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Speaker 1: Now it's time for our daily Bloomberg Law Brief, exploring

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Speaker 1: legal issues in the news, and Today, Bloomberg Law host

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Speaker 1: Jun Grosso and Greg's Store discussed the Supreme Court's decision

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Speaker 1: forcing Texas to broaden its death penalty exemption for people

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Speaker 1: with intellectual disabilities. They speak with Virginia Sloan, president and

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Speaker 1: founder of the Constitution Project, and Robert Dunham, Executive director

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Speaker 1: of the Death Penalty Information Center. Rob let's start with you.

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Speaker 1: Just tell us, tell us who Bobby James Moore is,

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Speaker 1: in his background, and why we're even talking about whether

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Speaker 1: he is eligible for the death penalty. Bobby James Moore

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Speaker 1: is a Texas throw prisoner, and he he was sentenced

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Speaker 1: to death although there were serious questions about whether he

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Speaker 1: had intellectual disability. The United States Supreme Court ruled in

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Speaker 1: two thousand and two you can't execute people who have

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Speaker 1: intellectual disability, and the Texas Trial court, who heard Bobby

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Speaker 1: James Moore's claim apply the looked at the clinical definitions

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Speaker 1: of of intellectual disability and found that he had met them.

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Speaker 1: The Texas Court of Criminal Appeals UH instead of substituted

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Speaker 1: a set of standards called the brastinio factors, which are

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Speaker 1: an unscientific group of essentially laced artotypes. Uh and uh,

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Speaker 1: and said that he had not proven intellectual disability, so

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Speaker 1: the case came up to the United States the court

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Speaker 1: essentially decide whether he could be facing a despitally or not.

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Speaker 1: Jenny Justice Ruth Bader Ginsberg wrote the majority opinion. Tell

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Speaker 1: us what her reasoning was. Well, the reasoning was that

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Speaker 1: the Texas Court of Criminal Appeals had not relied on

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Speaker 1: the medical standards that were the latest and up to

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Speaker 1: date UM standards for determining when someone is intellectually disabled

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Speaker 1: and had in dead relied on outdated and judicially crafted

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Speaker 1: uh standards. Uh that just don't m mean anything. They're

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Speaker 1: not judicially significant, they're not legally significant, and uh they

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Speaker 1: don't determine whether anyone is intellectually disabled or not. That's

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Speaker 1: Virginia Sloan, president and founder of the Constitution Project, and

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Speaker 1: Robert Dunham, Executive director of the Death Penalty Information Center,

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Speaker 1: speaking with Bloomberg Lahouse, jum Grasso and Greg Store. You

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Speaker 1: can listen to Bloomberg Law Wait Days at one pm

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Speaker 1: Wall Street Time here on Bloomberg Radio and that's this

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Speaker 1: morning's Bloomberg Law Brief. You can find more legal news

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Speaker 1: at Bloomberg Law dot com and Bloomberg b NA dot com.

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Speaker 1: Attorneys will find exceptional legal research and business development tools

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Speaker 1: there as well. Visit Bloomberg Law dot com and Bloomberg

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Speaker 1: b and A dot com for more information. Well, as

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Speaker 1: we've been reporting this morning, the UK starts the clock

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Speaker 1: today on two years of negotiations to withdraw from the

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Speaker 1: European Union and thus ads into the unknown s and

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Speaker 1: p S Chief Rating Officer Warren's the UK's credit rating

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Speaker 1: could be at stake. What does Stephanie Flanders see ahead?

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Speaker 1: We're about to ask the UK based chief market strategist

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Speaker 1: for JP Morgan Asset Management joining us on the Spectrum

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Speaker 1: Enterprise phone line, Spectrum Enterprise nationwide fiber based network and

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Speaker 1: I T infrastructure solutions. Stephanie Flanders, good morning and welcome.

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Speaker 1: We've seen this coming for a long time. Right now

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Speaker 1: the markets up here calm. Is there anything that could

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Speaker 1: seriously upset that? Well? I think we are. Most of

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Speaker 1: the expectations around this particular moment have very much been

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Speaker 1: baked into markets for a while. But of course we'll

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Speaker 1: be listening to Prime Minister Theresa May when she which

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Speaker 1: she stands up and effectively says what was in that

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Speaker 1: letter that's been sent over to the European Commission um

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Speaker 1: this morning? And if there's any sign that her negotiating

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Speaker 1: position has changed, or that we might be looking at

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Speaker 1: a harder or softer version of Brexit, than that could

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Speaker 1: have an effect on markets. But at the moment, and

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Speaker 1: we're not anticipating that, and we are just realizing that

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Speaker 1: the clock has now started taking on those very difficult negotiations. Yeah,

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Speaker 1: she She's done a lot to try to telegraph to

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Speaker 1: the market, so you know what's ahead. Do you do

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Speaker 1: you think that that's going to be the course she's

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Speaker 1: going to take? Yeah? I mean I think we've had

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Speaker 1: an interesting approach taken by stories and maybe you know,

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Speaker 1: someone who had previously campaign to stay in the European Union,

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Speaker 1: since being in this position and having accepted the decision

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Speaker 1: of the referendum, has almost acted as if there were

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Speaker 1: no downsides to this, and that we could achieve a

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Speaker 1: fantastic trade deal in a very short time and also

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Speaker 1: have the extra advantages of freedoms that come from being

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Speaker 1: outside the U. I think there are a lot of

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Speaker 1: people who worry that that's expect setting expectations, public expectations

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Speaker 1: pretty high. You know, people in the markets have not

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Speaker 1: been have been more skeptical of that view, and we've

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Speaker 1: seen the pound affected by concerns around the economic impact

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Speaker 1: of a harder version of Brexit. But you know, we've

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Speaker 1: yet to see really what that's going to look like

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Speaker 1: and how difficult these negotiations are. So maybe we'll have

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Speaker 1: a bit of sense of that from her, but we

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Speaker 1: haven't so far. Now we expect that in this letter

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Speaker 1: is is sort of the pathway to what Britain is

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Speaker 1: going to need out of these negotiations. Are what does

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Speaker 1: Britain need, Well, we want to have all the advantages

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Speaker 1: that we currently have of being in the European Union,

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Speaker 1: but none of what we consider to be the disadvantages,

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Speaker 1: for example, the fact that we can't prevent other European

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Speaker 1: citizens from coming living in the k Uk, which several

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Speaker 1: million people have, and that's one of the political issues

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Speaker 1: that's been around Brexit. Now. Of course the other twenty

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Speaker 1: seven are going to have their view, and one of

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Speaker 1: the views of many in the European Unions, we can't

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Speaker 1: have this leaving option look too great at the time

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Speaker 1: when there's a lot of populist pressures and criticism of

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Speaker 1: the European Union within Europe itself. So, you know, this

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Speaker 1: is the issue. We've had a lot of debate in

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Speaker 1: the UK around the UK position, but now we have

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Speaker 1: to counter in you know what twenty seven other countries

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Speaker 1: think and their own domestic political considerations which could which

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Speaker 1: could really make negotiations hard. They always do. I mean,

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Speaker 1: trade deals are difficult. You know that in the States

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Speaker 1: how hard it is to get one of these things

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Speaker 1: through through Congress, let alone negotiated. So are we looking

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Speaker 1: at two years of volatility as as the negotiations go

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Speaker 1: from hard to progress too hard again? Well, I think

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Speaker 1: there'll be a quiet period for the next six months

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Speaker 1: or so because the timing of this is a bit awkward.

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Speaker 1: As you know, we have a big French election, we

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Speaker 1: have a big German election. They're the two most important

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Speaker 1: countries in Europe. They're not going to be the only

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Speaker 1: ones who have to say. But I think most people

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Speaker 1: think that the serious decisions are not going to be

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Speaker 1: taken on the shape of Brexit until we have new

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Speaker 1: leadership in Germany and France, which will be in six

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Speaker 1: only in the autumn um, so before that we will

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Speaker 1: have sort of more maneuvering on the sidelines and the

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Speaker 1: negotiators sitting around and talking to each other. But I

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Speaker 1: don't think in terms of market moving events, we're going

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Speaker 1: to have that much until we get to the end

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Speaker 1: of the year and the first half of eighteen. That's

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Speaker 1: when we're really going to have to start seeing a

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Speaker 1: shape of a deal if we've got any chance of

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Speaker 1: meeting this two time frame very quickly. How concerned are

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Speaker 1: you that Scotland could complicate matters here with its referendum demands.

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Speaker 1: I think in the long term it could complicate it

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Speaker 1: a lot. I think the Prime Minister is going to

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Speaker 1: stick with her argument that this is no time to

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Speaker 1: have another referendum, so I'm not sure the schottarsh are

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Speaker 1: going to win in their desire to have one before

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Speaker 1: Britain leaves the EU, but certainly down the road this

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Speaker 1: could make for a very difficult negotiations around the future

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Speaker 1: of the United Kingdom itself. Stephanie Flanders, thank you very

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Speaker 1: much for joining US Chief Market Strategies for JP Morgan

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Speaker 1: Asset Management in London.