1
00:00:00,400 --> 00:00:04,080
Speaker 1: You're listening to Bloomberg Business Week with Carol Messer on

2
00:00:04,200 --> 00:00:07,960
Speaker 1: Bloomberg Radio. All right, everybody, I'm Carol Masser along with

3
00:00:08,039 --> 00:00:11,200
Speaker 1: Kevin Siilli and June Grosso a Bloomberg. It is Friday.

4
00:00:11,240 --> 00:00:13,040
Speaker 1: I'm thinking about my pizza and wine. I've just got

5
00:00:13,039 --> 00:00:14,760
Speaker 1: to put it out there because it's been quite a

6
00:00:14,800 --> 00:00:18,920
Speaker 1: week everyone, and the headlines, uh, Kevin and June, I mean,

7
00:00:19,000 --> 00:00:21,840
Speaker 1: they continue to come. It's a little crazy. It's it's

8
00:00:21,880 --> 00:00:24,480
Speaker 1: you know, it's exciting, it's NonStop. But this is how

9
00:00:24,520 --> 00:00:29,080
Speaker 1: we live. Exhausting. Yeah, but no, June Grosso, you don't

10
00:00:29,080 --> 00:00:32,360
Speaker 1: get to see that. No, you've got more energy, and yeah,

11
00:00:32,440 --> 00:00:36,120
Speaker 1: I know you do. We're in this well, We've got

12
00:00:36,200 --> 00:00:38,960
Speaker 1: Joe Biden speaking in about eight p m. Easter tonight.

13
00:00:39,080 --> 00:00:41,199
Speaker 1: This is, of course, now there's this mounting sense of

14
00:00:41,200 --> 00:00:44,120
Speaker 1: pressure with regards to when is Pennsylvania going to be

15
00:00:44,159 --> 00:00:46,760
Speaker 1: called now that Biden has taken the vote tally total

16
00:00:46,880 --> 00:00:49,400
Speaker 1: in there. Meanwhile, I can tell you this headline just

17
00:00:49,479 --> 00:00:52,760
Speaker 1: across the Bloomberg terminal from Dal Jones, Biden sets a

18
00:00:52,840 --> 00:00:57,120
Speaker 1: top Gary Gensler as Wall Street oversight advisor. Carol, there's

19
00:00:57,160 --> 00:00:59,640
Speaker 1: a blast from the past and what's old is new again. Yeah,

20
00:00:59,680 --> 00:01:01,560
Speaker 1: it's fascinating and this is kind of going to be

21
00:01:01,600 --> 00:01:04,520
Speaker 1: interesting to watch in terms of, you know, kind of

22
00:01:04,560 --> 00:01:07,920
Speaker 1: the headlines that follow from this point on. And I

23
00:01:07,959 --> 00:01:10,920
Speaker 1: do I don't know, I've been thinking about I gotta say,

24
00:01:10,959 --> 00:01:12,760
Speaker 1: I've been thinking about who's gonna be part of the

25
00:01:12,800 --> 00:01:15,280
Speaker 1: transition team and all of these things, and what I

26
00:01:15,280 --> 00:01:17,840
Speaker 1: can tell you a little bit about this this morning.

27
00:01:17,920 --> 00:01:20,600
Speaker 1: I talked to some sources right after right, that was

28
00:01:20,640 --> 00:01:22,720
Speaker 1: a moment right as we as we say in the Beltway,

29
00:01:23,000 --> 00:01:26,080
Speaker 1: where you really felt this jelt of energy once from

30
00:01:26,120 --> 00:01:29,600
Speaker 1: both sides as an inflection point so to speak, when

31
00:01:29,840 --> 00:01:32,680
Speaker 1: the vote total changed in Pennsylvania, were Biden's or passed

32
00:01:32,680 --> 00:01:36,160
Speaker 1: Trump in the votes? And you know, in talking to

33
00:01:36,240 --> 00:01:39,280
Speaker 1: sources close to Senator Chris Coons, a Democrat from Delaware,

34
00:01:39,360 --> 00:01:43,120
Speaker 1: Joe Biden's Delaware, as well as in the Tony Blinkoln

35
00:01:43,600 --> 00:01:47,840
Speaker 1: national security political orbit, they've been having these transition meetings

36
00:01:48,000 --> 00:01:51,960
Speaker 1: June Grosso for quite some time. Well really, well, I'm

37
00:01:52,000 --> 00:01:54,600
Speaker 1: not surprised though, but I have to say one person

38
00:01:54,640 --> 00:01:57,680
Speaker 1: that I think is has been as already made sounds

39
00:01:57,760 --> 00:02:01,440
Speaker 1: about what he wants to do is our friend Bernie Sanders.

40
00:02:02,200 --> 00:02:07,960
Speaker 1: So he's been talking about ten secretary. That's so spot on.

41
00:02:08,000 --> 00:02:10,679
Speaker 1: Where they go, Carol is going to be remarkable, But

42
00:02:10,960 --> 00:02:13,760
Speaker 1: Warren Wing and whatnot? Absolutely? And who they draw upon?

43
00:02:13,840 --> 00:02:15,400
Speaker 1: Is it more like an Obama white house? Is it

44
00:02:15,480 --> 00:02:17,919
Speaker 1: more like Hillary Clinton white house might have been? Um?

45
00:02:17,960 --> 00:02:22,839
Speaker 1: These are questions to be answered. Let's bring in our guest,

46
00:02:22,919 --> 00:02:25,800
Speaker 1: bringing the guests, and then we'll bring in AOC. Yeah,

47
00:02:25,919 --> 00:02:28,680
Speaker 1: let's get to our round table. Um. Maddie Doppler is

48
00:02:28,720 --> 00:02:31,320
Speaker 1: founder and president of Forward Strategy, Senior Fellow at the

49
00:02:31,400 --> 00:02:36,000
Speaker 1: National Taxpayers Union, former UH, former Coalitions director for the

50
00:02:36,000 --> 00:02:39,600
Speaker 1: House Republican Conference. She joins US alone with Fred Hackberg.

51
00:02:39,840 --> 00:02:41,799
Speaker 1: He is former chairman and president of the U S

52
00:02:41,880 --> 00:02:45,560
Speaker 1: Export Import Bank, spent two decades a CEO of Lillian Vernon.

53
00:02:45,560 --> 00:02:48,080
Speaker 1: He's also a Resident Fellow at the University of Chicago

54
00:02:48,200 --> 00:02:51,240
Speaker 1: Institute of Politics. So perfect round table, Fred, let me

55
00:02:51,280 --> 00:02:53,400
Speaker 1: start with you, and I want to start with actually

56
00:02:53,760 --> 00:02:57,440
Speaker 1: Joe Biden and the speech tonight, And I do wonder

57
00:02:57,560 --> 00:03:00,720
Speaker 1: Joe Biden has been very quiet after the election. He

58
00:03:00,760 --> 00:03:02,920
Speaker 1: certainly was yesterday in some of the comments that he

59
00:03:02,960 --> 00:03:05,440
Speaker 1: has made to the American public. What are your expectations

60
00:03:05,440 --> 00:03:10,119
Speaker 1: for this evening? Well, Uh, Jill Biden has been very

61
00:03:10,240 --> 00:03:13,800
Speaker 1: measured and careful and what he's been optimistic and upbeat,

62
00:03:14,200 --> 00:03:17,239
Speaker 1: but uh, you know, he has not been declared the

63
00:03:17,280 --> 00:03:19,760
Speaker 1: winning yet, so he's been very careful about that, and

64
00:03:19,800 --> 00:03:22,119
Speaker 1: I think he wants to make sure that he addresses

65
00:03:22,160 --> 00:03:25,040
Speaker 1: the nation. As we know, President Trump has been a

66
00:03:25,160 --> 00:03:30,639
Speaker 1: wildly ass nation twitters. Press conference is neated, so I

67
00:03:30,680 --> 00:03:34,080
Speaker 1: think it's important that we've all hear from Joe Biden

68
00:03:34,200 --> 00:03:38,520
Speaker 1: Kamala Rus at this point. But do you expect Joe

69
00:03:38,560 --> 00:03:42,960
Speaker 1: Biden to make a statement, a bold statement perhaps about

70
00:03:43,000 --> 00:03:47,000
Speaker 1: what responding to what President Trump said yesterday about the

71
00:03:47,040 --> 00:03:53,440
Speaker 1: fraudulent election and the continual lawsuits that he's promising. I'm

72
00:03:53,480 --> 00:03:57,040
Speaker 1: not going to expect on whats going to say and

73
00:03:57,120 --> 00:04:00,240
Speaker 1: then writers each Uh so I really I'm not in

74
00:04:00,280 --> 00:04:02,760
Speaker 1: the position to really speculating what he's gonna say, but

75
00:04:02,880 --> 00:04:10,280
Speaker 1: think it's important victory is uh it appears, Uh, it's right,

76
00:04:10,320 --> 00:04:13,680
Speaker 1: we be grass. We we're gonna carry in Michigan, We're

77
00:04:13,680 --> 00:04:17,160
Speaker 1: gonna carry Wisconsin and Pennsylvania by bigger margins than Trump did.

78
00:04:17,720 --> 00:04:19,839
Speaker 1: And when everything gets counted, I think that We're gonna

79
00:04:19,839 --> 00:04:24,440
Speaker 1: win in uh Georgia, Arizona, and Nevada. Pennsylvania going to

80
00:04:24,560 --> 00:04:27,560
Speaker 1: be a strong win. Fred, wherever you just moved, wherever

81
00:04:27,680 --> 00:04:32,000
Speaker 1: whatever fancy island drawn on this beautiful Friday, stay right there,

82
00:04:32,040 --> 00:04:38,719
Speaker 1: because your signal dramatically improved. Mattie Duppler. Well, something's going

83
00:04:38,760 --> 00:04:41,320
Speaker 1: on at the phone signal. Fred. All right, Maddi Duppler,

84
00:04:41,400 --> 00:04:43,280
Speaker 1: let me bring into this. Okay, So let's let's talk

85
00:04:43,279 --> 00:04:45,640
Speaker 1: about the Republican Party because you know this. I've been

86
00:04:45,680 --> 00:04:49,760
Speaker 1: talking to UH Report reporters, members of Congress all throughout

87
00:04:49,760 --> 00:04:52,680
Speaker 1: the day in the Republican Party, and Maddie, they're divided

88
00:04:52,760 --> 00:04:56,040
Speaker 1: about whether or not they think it's smart political strategy

89
00:04:56,240 --> 00:05:01,039
Speaker 1: for President Trump to pursue this legal fight. Yeah. So

90
00:05:01,440 --> 00:05:04,000
Speaker 1: this is the interesting question, and this is a question

91
00:05:04,040 --> 00:05:07,240
Speaker 1: I think most Republicans have been asking since, which is

92
00:05:07,279 --> 00:05:11,240
Speaker 1: what does the party look like post President Trump? Um?

93
00:05:11,279 --> 00:05:13,800
Speaker 1: You know, in some respect, I don't think that Republicans

94
00:05:13,880 --> 00:05:16,120
Speaker 1: need to be able to answer that question immediately, but

95
00:05:16,320 --> 00:05:18,880
Speaker 1: the they do need to answer what what they're going

96
00:05:18,920 --> 00:05:22,680
Speaker 1: to do if the President indeed decides to drag out

97
00:05:23,400 --> 00:05:27,440
Speaker 1: this election longer than really the numbers dictated should be

98
00:05:27,600 --> 00:05:29,840
Speaker 1: it should be drug out. So you know, I don't

99
00:05:29,880 --> 00:05:33,960
Speaker 1: know that the benefit falls too many congressional Republicans to

100
00:05:34,080 --> 00:05:36,720
Speaker 1: have this debate played out over and over again, Um,

101
00:05:36,760 --> 00:05:39,880
Speaker 1: particularly because when you're looking at what's happening in the Senate,

102
00:05:40,000 --> 00:05:42,000
Speaker 1: right we know at least one Georgia Senate seat as

103
00:05:42,000 --> 00:05:47,960
Speaker 1: tended to a runoff. Republican enthusiasm and uh in in

104
00:05:47,960 --> 00:05:51,960
Speaker 1: in an addition to that, Republican uh staith and confidence

105
00:05:52,000 --> 00:05:56,039
Speaker 1: in the system needs to remain high headed into that election,

106
00:05:56,120 --> 00:05:59,680
Speaker 1: which we won't know the results of for another month

107
00:05:59,800 --> 00:06:01,800
Speaker 1: 's one of the November fifth, so we won't know

108
00:06:01,839 --> 00:06:05,120
Speaker 1: the results of that. And you know, if if data

109
00:06:05,520 --> 00:06:08,039
Speaker 1: is able to pull off, here's the if that means

110
00:06:08,040 --> 00:06:09,599
Speaker 1: that I won't be the balance of the sentence, but

111
00:06:09,640 --> 00:06:13,880
Speaker 1: certainly the majority and what kind of strength the Republicans

112
00:06:13,920 --> 00:06:17,440
Speaker 1: have going into January. We'll be a part of that conversation. Fred,

113
00:06:17,440 --> 00:06:18,840
Speaker 1: We've got about a minute. We're gonna do some news

114
00:06:18,880 --> 00:06:20,880
Speaker 1: that will come back, but in the next minute, your

115
00:06:20,920 --> 00:06:24,880
Speaker 1: thoughts about what the election says about kind of longer

116
00:06:25,040 --> 00:06:28,200
Speaker 1: term the Republican and Democratic parties about that what how

117
00:06:28,240 --> 00:06:33,640
Speaker 1: the outcome was right? So, Um, you know, this was

118
00:06:33,680 --> 00:06:36,960
Speaker 1: clearly a repudiation of Donald Trump. It was not a

119
00:06:37,000 --> 00:06:41,200
Speaker 1: full repudiation of the entire Republican Party. UM, we don't

120
00:06:41,200 --> 00:06:42,800
Speaker 1: know how the sentence is going to look right now.

121
00:06:42,920 --> 00:06:46,120
Speaker 1: We did lose some ground in the House. We did

122
00:06:46,120 --> 00:06:51,360
Speaker 1: not pick up any state legislatures. So, UM, I think

123
00:06:51,360 --> 00:06:54,359
Speaker 1: we're gonna it's gonna take some time to truly navigate

124
00:06:54,400 --> 00:06:57,040
Speaker 1: and thread what the American people want. But one thing

125
00:06:57,160 --> 00:07:00,559
Speaker 1: is clear. People wanted to change in leadership, a change

126
00:07:00,560 --> 00:07:04,040
Speaker 1: in presidency, a change to deal with COVID, and am

127
00:07:04,080 --> 00:07:07,440
Speaker 1: more worker centered a government. And that's really what you'll

128
00:07:07,440 --> 00:07:09,880
Speaker 1: Biden was talking about as we're talking about for his

129
00:07:10,040 --> 00:07:12,960
Speaker 1: entire life and talked about this campaign. Maybe we'll unpack

130
00:07:13,000 --> 00:07:14,880
Speaker 1: that a little bit more, that worker centered government, because

131
00:07:14,880 --> 00:07:18,320
Speaker 1: I think that's interesting. You're listening to Bloomberg Business Week.

132
00:07:18,320 --> 00:07:22,200
Speaker 1: I'm Carol Masser along with Kevin Serially, Bloomberg News Chief

133
00:07:22,200 --> 00:07:26,080
Speaker 1: Washington correspondent, host of Bloomberg sound On on Bloomberg Radio,

134
00:07:26,160 --> 00:07:28,480
Speaker 1: joom Grosso legal analyst and host of Bloomberg Law on

135
00:07:28,520 --> 00:07:30,880
Speaker 1: Bloomberg Radio. I want to get back to a roundtable.

136
00:07:31,200 --> 00:07:34,600
Speaker 1: Maddie Doubler, She's found in president of Forward Strategies, former

137
00:07:34,600 --> 00:07:38,560
Speaker 1: Coalitions Director for the House Republican Conference. Fred Hackberg also

138
00:07:38,600 --> 00:07:40,920
Speaker 1: with US, former chairman and president of the U S

139
00:07:41,000 --> 00:07:43,320
Speaker 1: Export Import Bank. He joins us on the phone and

140
00:07:43,360 --> 00:07:46,400
Speaker 1: Greenwich Maddie in d C. I want to look forward

141
00:07:46,400 --> 00:07:48,320
Speaker 1: if I may, because I I like to think about

142
00:07:48,400 --> 00:07:50,440
Speaker 1: kind of where things are going and where things need

143
00:07:50,480 --> 00:07:53,760
Speaker 1: to be. Fred, what are your thoughts about president if

144
00:07:53,880 --> 00:07:57,320
Speaker 1: it is a President Biden, his ability to cross the

145
00:07:57,360 --> 00:07:59,760
Speaker 1: aisle and actually get some things done, whether it is

146
00:08:00,040 --> 00:08:04,040
Speaker 1: on infrastructure, whether it's on a stimulus package, whether it's

147
00:08:04,080 --> 00:08:07,800
Speaker 1: the necessary packages that we need on the global scale

148
00:08:08,000 --> 00:08:12,920
Speaker 1: climate change. What are your expectations. Well, Joe Biden is

149
00:08:13,000 --> 00:08:16,320
Speaker 1: a very experienced hand in working with the Congress and

150
00:08:16,360 --> 00:08:19,640
Speaker 1: where obviously from and from his many many years in

151
00:08:19,680 --> 00:08:23,400
Speaker 1: the Senate, and has a relationship with Mitch McConnell. Uh

152
00:08:23,440 --> 00:08:25,760
Speaker 1: if you want to make a deal, that requires both

153
00:08:25,800 --> 00:08:28,600
Speaker 1: parties to want to make a deal. And uh so

154
00:08:28,680 --> 00:08:32,480
Speaker 1: part of this does depend on to what extent um

155
00:08:32,480 --> 00:08:35,800
Speaker 1: someone uh Mitch McConnell sees this, and that of course

156
00:08:35,880 --> 00:08:38,480
Speaker 1: depends a lot of this also depends on the George

157
00:08:38,520 --> 00:08:41,320
Speaker 1: of Runolfs. So we're gonna see in January. So they're

158
00:08:41,360 --> 00:08:44,000
Speaker 1: just there're a lot of unknowns right now, so it's

159
00:08:44,000 --> 00:08:46,959
Speaker 1: it's not that easy to forecast. But one thing is clear.

160
00:08:47,400 --> 00:08:51,840
Speaker 1: Joe Biden is committed to workers, committed to infrastructure, committed

161
00:08:51,880 --> 00:08:55,280
Speaker 1: to making sure we skill train, we train people with

162
00:08:55,320 --> 00:08:58,520
Speaker 1: the skills they're gonna need over the next ten fifteen years.

163
00:08:58,800 --> 00:09:01,040
Speaker 1: He's committed to buy in a America, make it here

164
00:09:01,080 --> 00:09:03,120
Speaker 1: in the vade here. He's made that very clear in

165
00:09:03,160 --> 00:09:06,680
Speaker 1: the campaign trail, and he also has a lifelong record

166
00:09:07,000 --> 00:09:09,000
Speaker 1: that also back set up. This is not something he

167
00:09:09,120 --> 00:09:13,160
Speaker 1: just arrived at recently. So, Maddie, do you think that

168
00:09:13,280 --> 00:09:16,720
Speaker 1: Joe Buden will be able to, you know, go across

169
00:09:16,760 --> 00:09:18,840
Speaker 1: the aisle or are we going to end up seeing

170
00:09:18,920 --> 00:09:21,760
Speaker 1: a lot of the executive orders, you know, government by

171
00:09:21,760 --> 00:09:26,520
Speaker 1: executive order, as we've been seeing during the Trump administration. Well,

172
00:09:26,559 --> 00:09:30,839
Speaker 1: I certainly think that the president of governing by executive

173
00:09:30,880 --> 00:09:33,839
Speaker 1: fiat is one that is very troubling and is not

174
00:09:34,360 --> 00:09:37,200
Speaker 1: exclusted to the Trump administration. But what I really think

175
00:09:37,240 --> 00:09:40,560
Speaker 1: will dictate what the next four years look like are

176
00:09:40,600 --> 00:09:42,400
Speaker 1: the next two years in the House of Representatives. And

177
00:09:42,440 --> 00:09:45,120
Speaker 1: I say this as someone who worked for the House

178
00:09:45,160 --> 00:09:48,840
Speaker 1: Republican Conference at a time when the House Freedom Caucus

179
00:09:48,960 --> 00:09:52,800
Speaker 1: was ascendant, uh and leadership, and I was trying to

180
00:09:52,840 --> 00:09:56,480
Speaker 1: figure out how you make the math work, how you

181
00:09:56,600 --> 00:09:59,920
Speaker 1: govern in a time when your conference, in your caucus

182
00:10:00,000 --> 00:10:03,079
Speaker 1: suits getting much more diverse. How Democrats right now are

183
00:10:03,080 --> 00:10:06,040
Speaker 1: facing that exact problem. You saw yesterday reports of their

184
00:10:06,080 --> 00:10:11,240
Speaker 1: caucus call being extremely volatile, with members from moderate portions

185
00:10:11,240 --> 00:10:13,920
Speaker 1: of the caucus saying that we need to move forward

186
00:10:13,960 --> 00:10:16,320
Speaker 1: and talk in the way that Joe Biden has talked

187
00:10:16,360 --> 00:10:20,040
Speaker 1: to primary voters the Democratic primary. UH. And of course

188
00:10:20,080 --> 00:10:22,360
Speaker 1: that's going to be intention with a lot of the

189
00:10:22,400 --> 00:10:24,920
Speaker 1: newer members in the conference. We really want to push

190
00:10:25,200 --> 00:10:27,760
Speaker 1: the caucus to the left. So I think how House

191
00:10:27,800 --> 00:10:32,840
Speaker 1: Democrats navigate that uh scenario is going to dictate how

192
00:10:32,960 --> 00:10:35,640
Speaker 1: much Joe Biden as president could get done in the

193
00:10:35,640 --> 00:10:39,520
Speaker 1: White House. You know, I think that's so incredibly spat on.

194
00:10:39,760 --> 00:10:42,280
Speaker 1: And both of you know this, but from your from

195
00:10:42,320 --> 00:10:45,240
Speaker 1: your boat, from your experience really in the political trenches,

196
00:10:45,280 --> 00:10:47,959
Speaker 1: so to speak, of policy, both of Mattie with the

197
00:10:48,000 --> 00:10:50,960
Speaker 1: Republicans and having to navigate the Tea Party versus the

198
00:10:50,960 --> 00:10:54,880
Speaker 1: old GOP establishment. UH. And of course a former chairman

199
00:10:54,960 --> 00:10:59,040
Speaker 1: Hawkburg with the Export Import Bank. And Fred, let me

200
00:10:59,080 --> 00:11:02,320
Speaker 1: come back to you, because Bloomberg has now matched this

201
00:11:02,320 --> 00:11:05,160
Speaker 1: this new development that dal Jones broke in the last hour.

202
00:11:05,440 --> 00:11:09,080
Speaker 1: Joe Biden sets a tap Gary Gensler as Wall Street

203
00:11:09,200 --> 00:11:13,280
Speaker 1: oversight advisor. You, of course, having a ran the Export

204
00:11:13,280 --> 00:11:16,040
Speaker 1: Import Bank, you know, Gary, what what what can we

205
00:11:16,120 --> 00:11:21,880
Speaker 1: glean from how Biden would navigate that tension between the

206
00:11:21,920 --> 00:11:26,719
Speaker 1: Sanders wing uh and and the more centrist wing from

207
00:11:26,720 --> 00:11:30,880
Speaker 1: a pick like Gary Gensler as a Wall Street advisor. Fred, Well,

208
00:11:30,920 --> 00:11:33,520
Speaker 1: I mean I've known Gary Gensler. We actually have sworn

209
00:11:33,520 --> 00:11:39,040
Speaker 1: in together on the same day. And you know, Gary

210
00:11:39,080 --> 00:11:45,199
Speaker 1: demonstrated his independence from simply the mainstream Wall Street thinking

211
00:11:45,840 --> 00:11:49,320
Speaker 1: when he was chair of the Commodities in Futures Exchange, um,

212
00:11:49,480 --> 00:11:52,600
Speaker 1: the Commission, excuse me. And so I think he's he

213
00:11:52,760 --> 00:11:56,120
Speaker 1: understands that world well and he also knows what a

214
00:11:56,200 --> 00:11:58,720
Speaker 1: democratic administration needs to do to make sure that we

215
00:11:58,840 --> 00:12:02,920
Speaker 1: protect workers an investor, So I think he's I've just

216
00:12:02,960 --> 00:12:04,559
Speaker 1: heard about it from you. I was looking on the

217
00:12:04,600 --> 00:12:09,200
Speaker 1: Bloomberg website. But he sounds like a really spot on choice.

218
00:12:09,200 --> 00:12:12,240
Speaker 1: He's an old handed government. He worked in the Clinton administration.

219
00:12:12,720 --> 00:12:14,800
Speaker 1: I don't want to say old, but that's what Gary

220
00:12:14,800 --> 00:12:20,199
Speaker 1: and I met, and then administration. So I'm kidding. Way

221
00:12:20,240 --> 00:12:22,680
Speaker 1: around Washington, he knows the way around Wolf Street. All right,

222
00:12:23,080 --> 00:12:24,679
Speaker 1: you got like a minute left here, but keep it

223
00:12:24,760 --> 00:12:27,240
Speaker 1: quick because you know that tension, you know, Maddie, that

224
00:12:27,320 --> 00:12:30,440
Speaker 1: Republicans are gonna say, oh, they're moving too far to

225
00:12:30,480 --> 00:12:31,800
Speaker 1: the left. He said he was going to run as

226
00:12:31,840 --> 00:12:36,320
Speaker 1: a coalition, but he's talking too much to the AOC crowds. Yeah,

227
00:12:36,360 --> 00:12:38,720
Speaker 1: I'm having a little PTSD watching some of these reports

228
00:12:38,720 --> 00:12:43,319
Speaker 1: of via Democratic Cocke. But you know, I know, right,

229
00:12:43,840 --> 00:12:46,480
Speaker 1: Fred has has really narrated on what Democrats need to do.

230
00:12:46,520 --> 00:12:48,360
Speaker 1: They need to talk about workers. Look at what happened

231
00:12:48,400 --> 00:12:52,080
Speaker 1: in November on ballot initias across the country. Huge income tax,

232
00:12:52,160 --> 00:12:55,200
Speaker 1: Progressive Income Tact went down in Illinois, huge property task

233
00:12:55,240 --> 00:12:57,760
Speaker 1: went down in California. The thing that survives that it

234
00:12:57,800 --> 00:13:00,840
Speaker 1: is on the progressive while wish list minimum tax in

235
00:13:00,960 --> 00:13:04,720
Speaker 1: red state of Florida. So I think if Democrats were wise,

236
00:13:04,840 --> 00:13:06,920
Speaker 1: they would get away from kind of this very far

237
00:13:07,000 --> 00:13:09,880
Speaker 1: left messaging and they would really focus on policy that

238
00:13:09,920 --> 00:13:13,400
Speaker 1: actually has an impact on how workers can continue to

239
00:13:13,480 --> 00:13:16,600
Speaker 1: thrive in this economy. You are listening to Bloomberg Business Week.

240
00:13:16,640 --> 00:13:18,400
Speaker 1: We're getting ready to wrap up our day and wrap

241
00:13:18,520 --> 00:13:21,200
Speaker 1: up our election week, although the election has yet to

242
00:13:21,280 --> 00:13:24,080
Speaker 1: be wrapped up completely. Still with us is, of course,

243
00:13:24,120 --> 00:13:27,240
Speaker 1: my co host Kevin Cerilli, Bloomberg News Chief Washington correspondent,

244
00:13:27,360 --> 00:13:29,679
Speaker 1: Bloomberg Radio and TV host of Bloomberg Sound on June

245
00:13:29,720 --> 00:13:33,200
Speaker 1: Grasso Legal Alliston, host of Bloomberg Blow Bloomberg Radio, and

246
00:13:33,240 --> 00:13:36,520
Speaker 1: a round table to wrap up our broadcast on this Friday,

247
00:13:36,520 --> 00:13:40,359
Speaker 1: Maddie Doubler, founder and president of Forward Strategies, former Coalitions

248
00:13:40,400 --> 00:13:44,040
Speaker 1: director for the House Republican Conference. Fred Hockburg, former chairman

249
00:13:44,080 --> 00:13:47,160
Speaker 1: and President of the US Export Import Bank. So, Fred,

250
00:13:47,280 --> 00:13:49,560
Speaker 1: I mean, I don't know what should we all be

251
00:13:49,640 --> 00:14:00,240
Speaker 1: taking away from election, and it was for exchange and

252
00:14:00,360 --> 00:14:03,200
Speaker 1: Joe Biden is just what people were looking for and

253
00:14:03,600 --> 00:14:08,440
Speaker 1: uh generated more votes than any other presidential candidates in

254
00:14:08,480 --> 00:14:11,920
Speaker 1: the history of our Fred, Fred, hang on for a second.

255
00:14:11,920 --> 00:14:13,520
Speaker 1: Your line is a little messy, So I'm going to

256
00:14:13,559 --> 00:14:15,360
Speaker 1: see if my my guys can clean it up, because

257
00:14:15,400 --> 00:14:17,400
Speaker 1: we certainly do want to hear, and I know our

258
00:14:17,400 --> 00:14:19,280
Speaker 1: listeners want to hear what you have to say. Maddie.

259
00:14:19,280 --> 00:14:22,160
Speaker 1: In the meantime, your thoughts on kind of what should

260
00:14:22,160 --> 00:14:26,200
Speaker 1: we take away from what we saw this election time around? Well,

261
00:14:26,360 --> 00:14:29,240
Speaker 1: so far, I am most interested in seeing what those

262
00:14:29,280 --> 00:14:32,040
Speaker 1: final vote talies are, not for red or blue, but

263
00:14:32,200 --> 00:14:34,800
Speaker 1: the people who showed up and voted either by mail

264
00:14:34,840 --> 00:14:37,760
Speaker 1: and ballot, by absinty ballot, are by going to the fold.

265
00:14:37,960 --> 00:14:41,720
Speaker 1: I'm a millennial. We have been constantly plagued by this

266
00:14:41,800 --> 00:14:44,400
Speaker 1: notion that my generation and the generations beyond us do

267
00:14:44,480 --> 00:14:49,640
Speaker 1: not vote. My hope is that this and this election

268
00:14:50,040 --> 00:14:53,960
Speaker 1: was an inflection point for that criticism, and from now on,

269
00:14:54,040 --> 00:14:58,000
Speaker 1: hopefully younger generations are more engaged, are more involved, and

270
00:14:58,120 --> 00:14:59,680
Speaker 1: make sure that their voices are heard of the polls.

271
00:14:59,680 --> 00:15:02,200
Speaker 1: I think it would be a huge step forward, regardless

272
00:15:02,200 --> 00:15:04,400
Speaker 1: of your politics, for where the country could go in

273
00:15:04,400 --> 00:15:08,160
Speaker 1: the future. All right, all right, you know what I

274
00:15:08,200 --> 00:15:09,880
Speaker 1: think we should do. I think we should do. Uh

275
00:15:10,120 --> 00:15:12,320
Speaker 1: have some a little bit of Friday Radar edition. And

276
00:15:14,040 --> 00:15:16,000
Speaker 1: I gotta say, first of all, let me let me

277
00:15:16,040 --> 00:15:18,560
Speaker 1: do it flug because because Joe Biden's going to speak

278
00:15:18,600 --> 00:15:20,080
Speaker 1: in a schedule to speak in the a p m.

279
00:15:20,120 --> 00:15:22,720
Speaker 1: Eastern hour, and after this I'm gonna go prep for that.

280
00:15:22,880 --> 00:15:25,240
Speaker 1: You can watch your simulcast on Bloomberg Television and on

281
00:15:25,280 --> 00:15:28,320
Speaker 1: Bloomberg Radio later this evening, and David Wessel will be

282
00:15:28,360 --> 00:15:31,680
Speaker 1: in as well. But but a huge moment in this

283
00:15:31,800 --> 00:15:35,480
Speaker 1: race in Joe Biden's uh some Friday night lights, so

284
00:15:35,520 --> 00:15:38,360
Speaker 1: to speak, in that regard. But I gotta say, June

285
00:15:38,400 --> 00:15:41,160
Speaker 1: and Carol, thank you so much for letting me crash

286
00:15:41,160 --> 00:15:43,920
Speaker 1: your party the past two days. Oh gosh, well now

287
00:15:43,920 --> 00:15:49,560
Speaker 1: it's Carol, you made it a party party and oh yeah,

288
00:15:49,680 --> 00:15:52,680
Speaker 1: now I'm waiting for my party gift. Okay, well, here's

289
00:15:52,720 --> 00:15:56,440
Speaker 1: the gift. Here's the gift, because we well, I'm gonna

290
00:15:56,520 --> 00:15:59,120
Speaker 1: do the gift right now. We do this thing on

291
00:15:59,120 --> 00:16:02,400
Speaker 1: on Bloomberg Radio of sounds on in our last block

292
00:16:02,400 --> 00:16:05,280
Speaker 1: where we do what's on the panel's radar? So let's

293
00:16:05,320 --> 00:16:10,120
Speaker 1: do that. Maddie Duppler, what's on your radar? Did we

294
00:16:10,160 --> 00:16:12,560
Speaker 1: lose Maddie? Did we lose Maddie? Guys, it's just and

295
00:16:12,600 --> 00:16:16,880
Speaker 1: then there were three. It's like, did we lose her?

296
00:16:16,960 --> 00:16:20,960
Speaker 1: Or did she hang up? Can you guys still hear me?

297
00:16:22,240 --> 00:16:26,320
Speaker 1: You're back in loud? Lad? What's on your radar? Party?

298
00:16:26,360 --> 00:16:33,880
Speaker 1: Prematurely on the Irish goodbye. Exactly, It's it's Friday, It's

299
00:16:33,960 --> 00:16:36,960
Speaker 1: jobs Friday. You know what's on my radar, that is

300
00:16:37,000 --> 00:16:41,800
Speaker 1: the job. Uh So, you know, yesterday we had unemployment

301
00:16:41,800 --> 00:16:44,040
Speaker 1: claims that seen the level off on the initial claims

302
00:16:44,080 --> 00:16:47,160
Speaker 1: for the first time in quite some time, and then

303
00:16:47,200 --> 00:16:49,960
Speaker 1: today we got a pretty strong jobs number for October.

304
00:16:50,040 --> 00:16:52,680
Speaker 1: To me, to demonstrate that a couple of things. One,

305
00:16:52,800 --> 00:16:57,320
Speaker 1: the American economy is incredibly resilient beyond just the summer.

306
00:16:57,400 --> 00:16:59,760
Speaker 1: Going into the fall, I thought for sure we would

307
00:16:59,800 --> 00:17:03,480
Speaker 1: see a lot more difficult data in the employment landscape,

308
00:17:03,520 --> 00:17:05,800
Speaker 1: and that has not yet materialized. I'm so worried about

309
00:17:05,800 --> 00:17:08,439
Speaker 1: winter and what that's gonna do to commercial activity. You know,

310
00:17:08,480 --> 00:17:11,240
Speaker 1: we can't dine outside the way we've been doing all summer,

311
00:17:11,560 --> 00:17:14,720
Speaker 1: but certainly, adding six thirty eight thousand jobs in October,

312
00:17:14,880 --> 00:17:17,439
Speaker 1: bringing the unemployment right down to six point nine percent,

313
00:17:17,600 --> 00:17:20,879
Speaker 1: is a much better position than we anticipated being in

314
00:17:21,200 --> 00:17:24,200
Speaker 1: at the beginning of the coronavirus shutdown. So my hope

315
00:17:24,240 --> 00:17:27,439
Speaker 1: is that moving forward we can get some fiscal relief

316
00:17:27,520 --> 00:17:30,560
Speaker 1: still passed by Congress and signed into laws of businesses

317
00:17:30,600 --> 00:17:34,000
Speaker 1: have more certainty heading into those uncertain winter months. Uh.

318
00:17:34,000 --> 00:17:37,000
Speaker 1: In the American economy and the workers who are really

319
00:17:37,040 --> 00:17:39,760
Speaker 1: struggling to get through these difficult times. We'll be able

320
00:17:39,760 --> 00:17:41,560
Speaker 1: to feel like doing a funnel and hopefully we can

321
00:17:41,600 --> 00:17:43,320
Speaker 1: turn a corner on this thing, both from a public

322
00:17:43,359 --> 00:17:46,600
Speaker 1: health perspective and from an economic perspective. Yeah, important initiative,

323
00:17:46,640 --> 00:17:48,840
Speaker 1: spred Hackberg, I know we've got you back. You know

324
00:17:49,119 --> 00:17:51,399
Speaker 1: what what is on your radar as we wrap up

325
00:17:51,400 --> 00:17:54,960
Speaker 1: this election week? Well, what's gonna be on our radar?

326
00:17:55,040 --> 00:17:56,840
Speaker 1: First of all, obviously is gonna be what does the

327
00:17:56,840 --> 00:17:59,440
Speaker 1: Seneca look like. We're not gonna do that until January

328
00:17:59,440 --> 00:18:03,480
Speaker 1: shift because that will have an impact on who Vice

329
00:18:03,520 --> 00:18:08,440
Speaker 1: President and Kamala Harris can choose as as cabinet members.

330
00:18:08,800 --> 00:18:10,640
Speaker 1: I would have a lot to do with the agenda

331
00:18:10,720 --> 00:18:14,120
Speaker 1: moving forward in terms of the number of the election

332
00:18:14,240 --> 00:18:17,320
Speaker 1: reforms and other reforms that are that are desperately needed

333
00:18:17,560 --> 00:18:21,600
Speaker 1: by American workers, and so that will change the entire

334
00:18:21,680 --> 00:18:23,320
Speaker 1: tenn of what the next four years is going to

335
00:18:23,400 --> 00:18:26,280
Speaker 1: look like. Will in somewhat be the chairman on General

336
00:18:26,280 --> 00:18:29,720
Speaker 1: EFFI all right, really appreciate that. Of course. That's Fred Hakburg,

337
00:18:30,000 --> 00:18:32,440
Speaker 1: former chairman and President of the U S. Export Import Bank,

338
00:18:32,480 --> 00:18:35,240
Speaker 1: Mattie Doppler, former and President founder, I should say in

339
00:18:35,240 --> 00:18:38,320
Speaker 1: President of Forward Strategies, former Coalitions director for the House

340
00:18:38,359 --> 00:18:39,240
Speaker 1: Republican Conference,