1 00:00:00,760 --> 00:00:03,480 Speaker 1: Why from our nation's camera, this budget thing is going 2 00:00:03,520 --> 00:00:05,960 Speaker 1: to do nothing space forces. I still think it's interesting 3 00:00:06,000 --> 00:00:09,320 Speaker 1: President Trump not playing his cards yet headlines policy and 4 00:00:09,480 --> 00:00:15,760 Speaker 1: politics colliding sound with Kevin's Really the insiders speak influencers insides. 5 00:00:15,880 --> 00:00:18,119 Speaker 1: I would rather see a congressional solution. It's part of 6 00:00:18,120 --> 00:00:21,280 Speaker 1: my DNA. The Senate map in looks a lot different 7 00:00:21,320 --> 00:00:24,079 Speaker 1: than it looked in. You really have a divide within 8 00:00:24,320 --> 00:00:26,880 Speaker 1: Team Trump. The president has to do exactly what people 9 00:00:26,880 --> 00:00:29,440 Speaker 1: seven here to do, which is to get it done. 10 00:00:29,440 --> 00:00:34,000 Speaker 1: He's summed on with Kevin's really on Bloomberg one and 11 00:00:34,080 --> 00:00:36,720 Speaker 1: one oh five point seven a m h D two Baltimore. 12 00:00:37,960 --> 00:00:42,480 Speaker 1: Former Vice President Joe Biden makes it official. He's officially 13 00:00:42,640 --> 00:00:46,120 Speaker 1: running for president. But how our Democrats reacting this? As 14 00:00:46,159 --> 00:00:48,920 Speaker 1: Anita Hill remember her. She gave an interview to The 15 00:00:48,920 --> 00:00:52,680 Speaker 1: New York Times and ken the former vice president win 16 00:00:52,840 --> 00:00:57,080 Speaker 1: back the voters who candidate Donald Trump convinced to go 17 00:00:57,200 --> 00:01:01,400 Speaker 1: from Democrat to Republican, which take you to western Pennsylvania 18 00:01:01,440 --> 00:01:05,680 Speaker 1: and Ohio, key battleground portions of the electorate that Biden 19 00:01:05,680 --> 00:01:09,440 Speaker 1: will have to win if he can survive that Democratic primary. 20 00:01:09,480 --> 00:01:13,480 Speaker 1: First and breaking news tonight in Baltimore, where federal law 21 00:01:13,600 --> 00:01:19,160 Speaker 1: enforcement agents have descended upon the city, raiding City Hall, 22 00:01:19,280 --> 00:01:23,720 Speaker 1: as Mayor Katherine Peugh's house and other locations. There's an 23 00:01:23,720 --> 00:01:26,360 Speaker 1: investigation into her business dealing. Can she survive? We hear 24 00:01:26,400 --> 00:01:29,800 Speaker 1: from a reporter on the ground, but first reading now 25 00:01:29,880 --> 00:01:33,720 Speaker 1: from the reporting of Luke Broadwater, as well as his 26 00:01:33,800 --> 00:01:37,759 Speaker 1: colleague and Duncan reporting in the Baltimore Sun. Federal law 27 00:01:37,840 --> 00:01:42,000 Speaker 1: enforcement agents fanned out Thursday across Baltimore, raiding City Hall, 28 00:01:42,120 --> 00:01:45,559 Speaker 1: the home of embattled Mayor Katherine Peugh, and several other 29 00:01:45,680 --> 00:01:50,600 Speaker 1: locations as the investigation into the mayor's business dealings widened. 30 00:01:50,720 --> 00:01:53,600 Speaker 1: Joining me now on the telephone line from Baltimore is 31 00:01:54,080 --> 00:01:57,320 Speaker 1: Luke Broadwater. He has been all over this story and 32 00:01:57,360 --> 00:02:00,040 Speaker 1: we are thrilled that he is able to join. Know 33 00:02:00,320 --> 00:02:07,080 Speaker 1: what is the latest, ken Mayor Katherine Peugh hold on? Well, Uh, 34 00:02:07,440 --> 00:02:10,560 Speaker 1: pretty much everybody across the city is calling for her 35 00:02:10,600 --> 00:02:14,160 Speaker 1: to resign. The entire city council has called resigned, The 36 00:02:14,440 --> 00:02:19,200 Speaker 1: entire delegation to the House of Delegates from Baltimore has 37 00:02:19,240 --> 00:02:23,240 Speaker 1: called to resigned. The business community, the Governor of Maryland 38 00:02:23,320 --> 00:02:26,519 Speaker 1: today called her to resign. She has taken a leave 39 00:02:26,560 --> 00:02:28,880 Speaker 1: of absence. She's been on a leave of absence since 40 00:02:29,080 --> 00:02:33,200 Speaker 1: April one. UM, the city council president is acting against 41 00:02:33,280 --> 00:02:36,639 Speaker 1: mayor running the government. Um. She's largely than her house 42 00:02:36,680 --> 00:02:39,800 Speaker 1: the whole time. And she was there today as the 43 00:02:39,960 --> 00:02:44,960 Speaker 1: FBI came in and hauled out boxes and boxes of 44 00:02:45,080 --> 00:02:50,600 Speaker 1: her Healthy Holly books and other documents, UM and and 45 00:02:50,600 --> 00:02:53,600 Speaker 1: and took them away as part of their investigation. We 46 00:02:53,680 --> 00:02:57,920 Speaker 1: now know the investigation has gone federal. Before today, we 47 00:02:58,000 --> 00:03:01,280 Speaker 1: knew there was a state investigation and a local investigation. 48 00:03:01,360 --> 00:03:03,640 Speaker 1: Now we know the FEDS are involved as well. And 49 00:03:03,680 --> 00:03:06,720 Speaker 1: the FEDS were in and out of City Hall going through, um, 50 00:03:07,280 --> 00:03:11,800 Speaker 1: the Mayor's office and other in other rooms, retrieving documents. 51 00:03:11,840 --> 00:03:15,720 Speaker 1: So this is UM, this investigation continues to expand. I 52 00:03:15,720 --> 00:03:18,839 Speaker 1: mean this, this investigation is wild. I mean she's she's 53 00:03:18,840 --> 00:03:22,600 Speaker 1: the author of these books called Healthy Holly, and essentially 54 00:03:22,720 --> 00:03:28,200 Speaker 1: she's being accused of funneling this money to the University 55 00:03:28,280 --> 00:03:33,080 Speaker 1: of Maryland Medical Systems and while she was serving on 56 00:03:33,160 --> 00:03:36,080 Speaker 1: its border directors, and she was using this money to 57 00:03:36,080 --> 00:03:43,680 Speaker 1: to do what so UM, the she had an arrangement 58 00:03:43,720 --> 00:03:48,040 Speaker 1: with several entities that do business with the City of Baltimore. 59 00:03:48,280 --> 00:03:51,640 Speaker 1: To buy hundreds of thousands of dollars worth of her 60 00:03:51,760 --> 00:03:55,680 Speaker 1: self published children's books, UM, which you know, as John 61 00:03:55,680 --> 00:04:02,640 Speaker 1: Oliver pointed out, mispell the world vegetable. UM. Say, UM, 62 00:04:02,720 --> 00:04:05,200 Speaker 1: you know all we have tracked eight hundred at least 63 00:04:05,200 --> 00:04:07,880 Speaker 1: eight hundred thousand dollars worth of payments to her for 64 00:04:08,080 --> 00:04:11,040 Speaker 1: these books. And we know that many of the books 65 00:04:11,080 --> 00:04:14,520 Speaker 1: were never produced um from her time in office. So 66 00:04:14,680 --> 00:04:17,920 Speaker 1: she got eight hundred thousand while she was serving as mayor. 67 00:04:18,160 --> 00:04:20,479 Speaker 1: It started while she was a state senator and then 68 00:04:20,680 --> 00:04:23,320 Speaker 1: carried on into her term as mayor. And we also 69 00:04:23,360 --> 00:04:26,040 Speaker 1: know that thousands of the books are sitting in boxes, 70 00:04:26,160 --> 00:04:30,080 Speaker 1: unread in a warehouse. UM. So they were never distributed 71 00:04:30,160 --> 00:04:35,520 Speaker 1: to children at all. UM. So Uh, those are the 72 00:04:35,720 --> 00:04:39,960 Speaker 1: that's the crux of the investigation. Since then, UM, it 73 00:04:40,040 --> 00:04:44,680 Speaker 1: has spanned out into some other um, aspects of her 74 00:04:44,760 --> 00:04:49,599 Speaker 1: business dealings. She has quite a few different LLCs and 75 00:04:49,680 --> 00:04:54,000 Speaker 1: connections to some nonprofits. And so there's really no tailing 76 00:04:54,040 --> 00:04:56,320 Speaker 1: where it may go from where it starts and how 77 00:04:56,320 --> 00:04:59,600 Speaker 1: many people may be slept up in it. But um, 78 00:04:59,720 --> 00:05:04,920 Speaker 1: but the the origin of the state prosecutor's investigation was 79 00:05:04,960 --> 00:05:08,400 Speaker 1: this deal with the university Marian Medical System and the 80 00:05:08,440 --> 00:05:12,920 Speaker 1: mayor for uh one hundred thousand copies of her children's book. 81 00:05:13,120 --> 00:05:17,520 Speaker 1: Luke Broadwater, he has a political reporter for the Baltimore Son. 82 00:05:17,600 --> 00:05:19,839 Speaker 1: He has been all over this story into the embattled 83 00:05:19,839 --> 00:05:24,080 Speaker 1: Baltimore Mayor Catherine Pugh, who is facing calls for resignations 84 00:05:24,120 --> 00:05:29,760 Speaker 1: tonight from an intensifying group of Maryland lawmakers as the 85 00:05:29,880 --> 00:05:33,760 Speaker 1: investigation turned to the FBI into whether or not she 86 00:05:33,920 --> 00:05:40,039 Speaker 1: was using her self published children's book dubbed Healthy Holly 87 00:05:40,160 --> 00:05:43,440 Speaker 1: uh to to to make eight hundred thousand dollars worth 88 00:05:43,720 --> 00:05:47,960 Speaker 1: as an elected official, using the government to to take 89 00:05:48,040 --> 00:05:51,839 Speaker 1: this money to make purchases of this book, some of 90 00:05:51,839 --> 00:05:54,039 Speaker 1: which these books, as were learning through Luke and others 91 00:05:54,080 --> 00:05:57,799 Speaker 1: reportings didn't even make it into where they were ultimately 92 00:05:57,839 --> 00:06:00,080 Speaker 1: supposed to be. Up to Luke, before I let you go, 93 00:06:00,080 --> 00:06:01,560 Speaker 1: because I know you've got to get back to reporting. 94 00:06:01,720 --> 00:06:03,960 Speaker 1: But before it lets you go, what's next? Where? Where 95 00:06:03,960 --> 00:06:06,480 Speaker 1: does this story go? What's the next twenty four hours 96 00:06:06,560 --> 00:06:10,880 Speaker 1: look like for Mary Catherine or for Mayor Katherine Pew? Well, 97 00:06:10,960 --> 00:06:12,320 Speaker 1: it's it's it's like, we do have a couple of 98 00:06:12,360 --> 00:06:14,000 Speaker 1: stories about ready to publish, but I don't think I 99 00:06:14,040 --> 00:06:17,400 Speaker 1: can break them on the air, but sufficed to say 100 00:06:17,440 --> 00:06:20,440 Speaker 1: that that this is not going anywhere. Um, it is 101 00:06:21,400 --> 00:06:26,040 Speaker 1: just said, why not, okay, go ahead, it's um it's 102 00:06:26,120 --> 00:06:28,480 Speaker 1: it's not going anywhere. There's several more shoes to drop, 103 00:06:28,760 --> 00:06:32,000 Speaker 1: and it's going to continue for for months and months. 104 00:06:32,120 --> 00:06:36,960 Speaker 1: Um you know, we uh, you know, putting the investigation 105 00:06:37,040 --> 00:06:39,400 Speaker 1: aside for a moment. I mean, we have a you 106 00:06:39,440 --> 00:06:42,159 Speaker 1: know this, we have an acting mayor now running the city. 107 00:06:42,200 --> 00:06:44,680 Speaker 1: He's untested. We'll see how he does. There's an election 108 00:06:44,760 --> 00:06:47,600 Speaker 1: coming up. You know. Mayor Pew had been kind of 109 00:06:47,200 --> 00:06:50,279 Speaker 1: a very heavy favor to win reelection up until the 110 00:06:50,400 --> 00:06:52,360 Speaker 1: scandal broke, and now it's gonna be a wide open 111 00:06:52,480 --> 00:06:54,599 Speaker 1: field to see who's gonna run the city of Baltimore. 112 00:06:55,120 --> 00:06:58,040 Speaker 1: And um so there's a lot of political fallout and 113 00:06:58,320 --> 00:07:00,720 Speaker 1: the municipal fallout as well. A lot of people are 114 00:07:00,720 --> 00:07:04,120 Speaker 1: feeling uneasy and uncertain about the direction of the city 115 00:07:04,240 --> 00:07:07,480 Speaker 1: right now, and um so there's there's sort of a 116 00:07:07,640 --> 00:07:12,320 Speaker 1: civics fallout as well. Um that said, we stay tuned 117 00:07:12,360 --> 00:07:14,920 Speaker 1: and you're gonna see, uh, some more breaking news in 118 00:07:15,480 --> 00:07:18,920 Speaker 1: the coming hours. So look, I know, you gotta run 119 00:07:18,920 --> 00:07:20,440 Speaker 1: but make sure you stay in touch with our producer, 120 00:07:20,520 --> 00:07:22,960 Speaker 1: Christine Barada, because calling tomorrow, we want to follow this 121 00:07:23,000 --> 00:07:27,320 Speaker 1: story very carefully UH and we appreciate your time. Based 122 00:07:27,360 --> 00:07:30,880 Speaker 1: upon Luke's reporting, I do want to read this statement 123 00:07:31,000 --> 00:07:35,800 Speaker 1: from Mayor Pews attorney Stephen Silverman, who issued this statement, 124 00:07:35,880 --> 00:07:38,680 Speaker 1: which says, we will will quote, we will continue to 125 00:07:38,760 --> 00:07:41,640 Speaker 1: vigorously defend the mayor who is entitled to the presumption 126 00:07:42,120 --> 00:07:46,520 Speaker 1: of innocence and quote. This is just another example of 127 00:07:46,520 --> 00:07:51,720 Speaker 1: why local reporting, UH newspaper city reporting is so incredibly 128 00:07:51,760 --> 00:07:57,360 Speaker 1: crucial to transparency at every every level of UH of government. 129 00:07:57,600 --> 00:08:00,280 Speaker 1: Our thanks to our our our colleague is at the 130 00:08:00,280 --> 00:08:02,840 Speaker 1: Baltimore Sun, and of course to Luke Broadwater from making 131 00:08:02,880 --> 00:08:06,000 Speaker 1: the time coming up Joe Biden he enters into the 132 00:08:06,080 --> 00:08:08,400 Speaker 1: race an all star panel with me in studio to 133 00:08:08,480 --> 00:08:11,720 Speaker 1: break it down. Kristen haunts here a Democratic strategist and 134 00:08:11,800 --> 00:08:15,560 Speaker 1: Doug High, Republican strategist. You can download the sound on 135 00:08:15,720 --> 00:08:19,360 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by 136 00:08:19,400 --> 00:08:22,280 Speaker 1: downloading the Bloomberg Business app. You can check us out 137 00:08:22,320 --> 00:08:26,080 Speaker 1: on radio dot com, I Heart Radio and Spotify. I'm 138 00:08:26,160 --> 00:08:33,720 Speaker 1: Kevin Surreally you are listening to Bloomberg. You're listening to 139 00:08:34,000 --> 00:08:38,800 Speaker 1: sound On with Kevin Surreally on Bloomberg and one oh 140 00:08:38,880 --> 00:08:42,800 Speaker 1: five point seven F m h D two Baltimore. It's 141 00:08:42,800 --> 00:08:45,720 Speaker 1: always a good day with the Boss. The Boss is 142 00:08:45,840 --> 00:08:48,760 Speaker 1: releasing a new album for the first his first album, 143 00:08:48,760 --> 00:08:52,000 Speaker 1: Bruce spring Seens, first album in five years. I know 144 00:08:52,240 --> 00:08:54,719 Speaker 1: Doug High is ready for that. He, of course, is 145 00:08:54,760 --> 00:08:58,319 Speaker 1: a Republican strategist with me for the hour, former r 146 00:08:58,480 --> 00:09:02,120 Speaker 1: n C Communications to Rector and former Deputy Chief of 147 00:09:02,240 --> 00:09:05,640 Speaker 1: Staff to House Majority Leader Eric Canter. Are you ready 148 00:09:05,679 --> 00:09:07,760 Speaker 1: for Bruce? I am. I thought it was terrible that 149 00:09:07,840 --> 00:09:11,400 Speaker 1: Joe Biden would step all over the springs. Wow. Wow. 150 00:09:11,480 --> 00:09:15,479 Speaker 1: And also with us is Christen Hawn. She's a Democratic strategist, 151 00:09:15,960 --> 00:09:20,079 Speaker 1: also the former Blue Dog Coalition communications director right up 152 00:09:20,559 --> 00:09:26,000 Speaker 1: Biden's alley. She is a senior advisor at Rock Solutions. 153 00:09:26,080 --> 00:09:29,040 Speaker 1: And you just launched a new well not new, but 154 00:09:29,360 --> 00:09:32,480 Speaker 1: several months ago now ramping up a new events portion 155 00:09:32,559 --> 00:09:36,840 Speaker 1: of their portfolio, the Well News Dot cod We did, 156 00:09:36,880 --> 00:09:39,280 Speaker 1: and it's it's interesting. It's kind of where where business 157 00:09:39,320 --> 00:09:43,080 Speaker 1: meets Congress and where Republicans and Democrats are working together. 158 00:09:43,120 --> 00:09:46,600 Speaker 1: And I know a show where we talked about that, 159 00:09:46,840 --> 00:09:49,640 Speaker 1: and I feel like I feel like this is the 160 00:09:49,720 --> 00:09:53,440 Speaker 1: perfect home. I believe, I believe so. Alright, So Joe Biden, 161 00:09:53,559 --> 00:09:57,440 Speaker 1: the former VP aviator, Joe, He's going to give a 162 00:09:57,440 --> 00:09:59,920 Speaker 1: big rally and a couple of weeks. Really, I mean, 163 00:10:00,120 --> 00:10:02,120 Speaker 1: May right, May eighth? Is this is this rally? And 164 00:10:02,160 --> 00:10:05,079 Speaker 1: Philly my neck of the woods? All right? How is 165 00:10:05,120 --> 00:10:09,000 Speaker 1: this rollout? I thought they've done a great job. You know, 166 00:10:09,360 --> 00:10:12,720 Speaker 1: he had a call with some some donors. You know, 167 00:10:12,800 --> 00:10:14,800 Speaker 1: I think that everything's going well. I think he's seeing 168 00:10:14,800 --> 00:10:17,200 Speaker 1: a lot of the criticisms well. And for me, as 169 00:10:17,240 --> 00:10:19,360 Speaker 1: a moderate, I'm excited to see somebody get into the 170 00:10:19,360 --> 00:10:23,000 Speaker 1: debate that is not pulling everybody, you know, far to 171 00:10:23,040 --> 00:10:25,080 Speaker 1: the left. So um, I think it's gonna be healthy. 172 00:10:25,080 --> 00:10:27,760 Speaker 1: I'm glad he's here. Doug. Yeah, I thought the video 173 00:10:27,880 --> 00:10:30,480 Speaker 1: was really interesting and emphasized what you might not have 174 00:10:30,520 --> 00:10:32,400 Speaker 1: expected him to. I thought it was a very smart 175 00:10:32,440 --> 00:10:36,440 Speaker 1: play for African American voters, specifically African American women, who 176 00:10:36,760 --> 00:10:39,840 Speaker 1: not only are broadly um a big deal, a big 177 00:10:39,880 --> 00:10:43,600 Speaker 1: part of the Democratic electorate, but specifically in South Carolina. 178 00:10:43,679 --> 00:10:45,520 Speaker 1: You know, you have to start and look at Okay, 179 00:10:45,520 --> 00:10:47,480 Speaker 1: where is he going to do well and maybe not 180 00:10:47,559 --> 00:10:50,200 Speaker 1: do well. South Carolina is an opportunity for him, and 181 00:10:50,240 --> 00:10:53,320 Speaker 1: I thought leading with the Charlottesville message was a smart 182 00:10:53,360 --> 00:10:55,800 Speaker 1: thing to do. Headline in the New York Times, however, 183 00:10:56,520 --> 00:11:00,760 Speaker 1: says Joe Biden express his regret to Nita Hill, but 184 00:11:00,840 --> 00:11:04,800 Speaker 1: she says I'm sorry is not enough reading the reporting 185 00:11:04,840 --> 00:11:08,640 Speaker 1: of j Mark, Jonathan Martin, and Cheryl Gay Stolberg. Quote. 186 00:11:08,640 --> 00:11:11,400 Speaker 1: Former Vice President Joe Biden called a Nita Hill earlier 187 00:11:11,440 --> 00:11:14,040 Speaker 1: this month to express his regret over what she endured 188 00:11:14,600 --> 00:11:18,920 Speaker 1: testifying against Justice Clarence Thomas Scotus hearings that put a 189 00:11:18,960 --> 00:11:23,000 Speaker 1: spotlight on sexual harassment that according to a Biden spokesperson, 190 00:11:23,080 --> 00:11:26,080 Speaker 1: but miss Hill, in an interview on Wednesday, said quote, 191 00:11:26,280 --> 00:11:29,520 Speaker 1: I cannot be satisfied by simply saying I'm sorry for 192 00:11:29,559 --> 00:11:32,200 Speaker 1: what happened to you. I will be satisfied when I 193 00:11:32,240 --> 00:11:35,360 Speaker 1: know there is real change and real accountability and real purpose. 194 00:11:35,400 --> 00:11:39,240 Speaker 1: End quote. All right, Christen, I mean he releases this video, 195 00:11:39,440 --> 00:11:42,680 Speaker 1: clearly making a play at what is perceived to be 196 00:11:42,720 --> 00:11:46,520 Speaker 1: a political liability. Then you've got this New York Times. 197 00:11:47,120 --> 00:11:49,400 Speaker 1: You know it is Joe Biden being held to a 198 00:11:49,440 --> 00:11:51,880 Speaker 1: different standard than some of these other candidates who have 199 00:11:52,040 --> 00:11:54,360 Speaker 1: entered into the race. I mean, I don't know. I think, 200 00:11:54,360 --> 00:11:57,280 Speaker 1: first of all, Joe Biden, and I think a lot 201 00:11:57,280 --> 00:11:59,160 Speaker 1: of the attacks on him speaking as a woman, and 202 00:11:59,200 --> 00:12:04,199 Speaker 1: I take I take, you know, allegations of sexual very seriously. Um. 203 00:12:04,240 --> 00:12:07,840 Speaker 1: You know, we're politically motivated, and we're you know, belowe 204 00:12:07,840 --> 00:12:10,360 Speaker 1: a little bit out of proportion. He's got fifty years 205 00:12:10,920 --> 00:12:13,600 Speaker 1: of of a career to defend and and that's that's 206 00:12:13,720 --> 00:12:16,480 Speaker 1: decades of progress. But he has been at the helm, 207 00:12:16,520 --> 00:12:19,480 Speaker 1: at the forefront of progress both in Congress and for 208 00:12:19,559 --> 00:12:22,800 Speaker 1: women's rights, um, you know, for years. So yes, I mean, 209 00:12:22,840 --> 00:12:25,800 Speaker 1: as it is a political liability, they clearly know that, um. 210 00:12:25,840 --> 00:12:28,320 Speaker 1: And he's addressed it, addressed it head on. All right, 211 00:12:28,400 --> 00:12:30,559 Speaker 1: let's talk policy, because he, as he mentioned, he's got 212 00:12:30,559 --> 00:12:33,240 Speaker 1: that record. He served on a host of different financial committees. 213 00:12:33,480 --> 00:12:37,640 Speaker 1: He was a senator from Delaware. This came back. Uh. 214 00:12:37,880 --> 00:12:39,240 Speaker 1: I don't want to say to haunt. I mean, it 215 00:12:39,240 --> 00:12:41,040 Speaker 1: really depends on which angle you're looking at it from. 216 00:12:41,080 --> 00:12:45,080 Speaker 1: But his record on financial services as well, just given 217 00:12:45,120 --> 00:12:49,720 Speaker 1: Delaware's prominence in the financial services industry, how is that 218 00:12:49,760 --> 00:12:52,959 Speaker 1: going to play dug against the likes of Senators Warren 219 00:12:52,960 --> 00:12:55,160 Speaker 1: and Sanders, yet not well. I think the worst thing 220 00:12:55,160 --> 00:12:58,600 Speaker 1: a politician can have, unfortunately as a record, and a 221 00:12:58,679 --> 00:13:00,480 Speaker 1: lot of that is from the nine in eighties and 222 00:13:00,679 --> 00:13:04,280 Speaker 1: nineteen nineties, where the Democratic Party and Joe Biden certainly 223 00:13:04,400 --> 00:13:06,280 Speaker 1: were at a very different place than they are now. 224 00:13:06,360 --> 00:13:10,960 Speaker 1: So Banks not popular in the Democrat exactly. Not popular 225 00:13:11,000 --> 00:13:14,240 Speaker 1: in the Democratic world unless you're from Delaware. Um, if 226 00:13:14,240 --> 00:13:18,160 Speaker 1: you look at the crime bill that was passed, where 227 00:13:18,320 --> 00:13:22,200 Speaker 1: Joe Biden joked that this would send everybody, this would 228 00:13:22,240 --> 00:13:25,480 Speaker 1: apply the definitely to everything, but jaywalking. Not popular with 229 00:13:25,480 --> 00:13:28,080 Speaker 1: where the Democratic Party is now, Anita Hill and the 230 00:13:28,120 --> 00:13:31,040 Speaker 1: Me Too movement same thing. This is going to be 231 00:13:31,120 --> 00:13:34,400 Speaker 1: a real problem for Biden moving forward and also makes 232 00:13:34,440 --> 00:13:36,000 Speaker 1: it hard for him to say that he's the candidate 233 00:13:36,000 --> 00:13:38,360 Speaker 1: for the future. Yeah, I mean, I agree, he's going 234 00:13:38,400 --> 00:13:41,679 Speaker 1: to have nobody else has. You've got these young you know, 235 00:13:42,040 --> 00:13:45,000 Speaker 1: the candidates that do not have don't have a record, um, 236 00:13:45,080 --> 00:13:47,760 Speaker 1: And it definitely is a liability for him, I think 237 00:13:47,760 --> 00:13:51,920 Speaker 1: going forward, particularly um where financial services concerned, he's still 238 00:13:52,040 --> 00:13:54,760 Speaker 1: without question the front runner. He's got access to the 239 00:13:54,800 --> 00:14:00,680 Speaker 1: Obama world donor class. He's also got uh, even beyond that, uh, 240 00:14:00,960 --> 00:14:04,040 Speaker 1: you know this name recognition and he's the front runner. 241 00:14:04,080 --> 00:14:06,840 Speaker 1: And he was asked about this earlier today in Wilmington, Delaware, 242 00:14:06,840 --> 00:14:09,600 Speaker 1: about being the front runner. Take a listen to this exchange. 243 00:14:10,000 --> 00:14:12,120 Speaker 1: It's real early I tell you what this is gonna be. 244 00:14:12,600 --> 00:14:16,560 Speaker 1: Who not only who can win this, but who's the 245 00:14:16,559 --> 00:14:19,040 Speaker 1: best person to lead the country. And that's what's gonna 246 00:14:19,080 --> 00:14:21,200 Speaker 1: be all about. And it's commuted from the voters to 247 00:14:21,200 --> 00:14:23,760 Speaker 1: decide that. It's gonna be for the voters to decide that. 248 00:14:23,800 --> 00:14:27,600 Speaker 1: I just gotta be candid here. I when I think 249 00:14:27,640 --> 00:14:30,520 Speaker 1: of former Vice President Joe Biden, I think of off 250 00:14:30,520 --> 00:14:34,040 Speaker 1: the cuff. I think a scratt in Pennsylvania. I think 251 00:14:34,040 --> 00:14:36,480 Speaker 1: of someone who wants to break out of the political 252 00:14:36,560 --> 00:14:40,240 Speaker 1: norms and be able to be unscripted. So I was 253 00:14:40,240 --> 00:14:42,720 Speaker 1: a little bit surprised. I was a little bit surprised 254 00:14:42,720 --> 00:14:46,320 Speaker 1: to see such a scripted video message. And I want 255 00:14:46,320 --> 00:14:47,720 Speaker 1: to hear from him. I want him to, you know, 256 00:14:47,800 --> 00:14:49,640 Speaker 1: be on the stuff. I don't even want to see 257 00:14:49,680 --> 00:14:52,320 Speaker 1: like a network interview. I want to hear from him. 258 00:14:52,360 --> 00:14:54,440 Speaker 1: I want to see him interacting with voters. I want 259 00:14:54,440 --> 00:14:56,080 Speaker 1: to say, I want to I want to I want 260 00:14:56,080 --> 00:14:58,000 Speaker 1: to like you will. Yeah, I think you will. I mean, 261 00:14:58,040 --> 00:14:59,880 Speaker 1: like anybody who's been to a Biden rally. I mean, 262 00:15:00,240 --> 00:15:02,240 Speaker 1: I mean I went to a couple when he I mean, 263 00:15:02,280 --> 00:15:04,000 Speaker 1: he was one of the we would invite him to 264 00:15:04,040 --> 00:15:06,120 Speaker 1: come to rallies for Blue Dogs and like our plus 265 00:15:06,120 --> 00:15:10,000 Speaker 1: districts and in in Pennsylvania, and it was amazing. He 266 00:15:10,040 --> 00:15:12,040 Speaker 1: could turn a crowd you know that didn't think they 267 00:15:12,040 --> 00:15:14,000 Speaker 1: liked him when he walked in. And he still has 268 00:15:14,040 --> 00:15:16,280 Speaker 1: that ability. He's not gonna get rid of that. And 269 00:15:16,360 --> 00:15:18,480 Speaker 1: just quickly coming up, we're gonna talk more about this. 270 00:15:18,520 --> 00:15:20,840 Speaker 1: We're also gonna dive into trade policy. But I thought 271 00:15:20,920 --> 00:15:24,920 Speaker 1: that the handling of the brash of headlines with the 272 00:15:25,000 --> 00:15:28,040 Speaker 1: smelling of the hair from from yester week, I thought 273 00:15:28,120 --> 00:15:31,880 Speaker 1: him joking about that. I thought was joking about that 274 00:15:31,960 --> 00:15:35,120 Speaker 1: in an audience of union workers. I thought showed a 275 00:15:35,200 --> 00:15:39,280 Speaker 1: savv nous about him and how he will use his 276 00:15:39,520 --> 00:15:43,360 Speaker 1: unscripted nature potentially to his advantage. I thought that that 277 00:15:43,480 --> 00:15:47,160 Speaker 1: showed that his political instincts are still very much in 278 00:15:47,240 --> 00:15:51,400 Speaker 1: tune with Scranton and Youngstown, Ohio, which we talked about 279 00:15:51,440 --> 00:15:53,720 Speaker 1: a lot on this show. Uh, And I'm going to 280 00:15:53,840 --> 00:15:56,080 Speaker 1: be interested to see how that place, especially when we 281 00:15:56,120 --> 00:15:59,960 Speaker 1: get it's still early but patients, Kevin, it's a marathon, 282 00:16:00,080 --> 00:16:02,960 Speaker 1: not a sprint. When we get more into this race 283 00:16:03,040 --> 00:16:07,000 Speaker 1: coming up, we dive into policy, particularly on trade panels 284 00:16:07,080 --> 00:16:10,360 Speaker 1: days Kristen Hahn, Doug High. You can download the Sound 285 00:16:10,440 --> 00:16:13,960 Speaker 1: On podcast on Apple iTunes, at Bloomberg dot com, or 286 00:16:14,040 --> 00:16:17,000 Speaker 1: by downloading the Bloomberg Business app. You can also find 287 00:16:17,080 --> 00:16:20,440 Speaker 1: us on Radio dot com, I Heart Radio and Spotify. 288 00:16:20,560 --> 00:16:28,080 Speaker 1: I'm Kevin Seilli and you are listening to Bloomberg. This 289 00:16:28,560 --> 00:16:33,320 Speaker 1: is Sound On with Givin's really on Bloomberg and one 290 00:16:33,360 --> 00:16:36,920 Speaker 1: oh five point seven m h D two Baltimore rough 291 00:16:37,040 --> 00:16:41,520 Speaker 1: day for the Baltimore mayor. Mayor Pew. Mayor Katherine Pew 292 00:16:41,600 --> 00:16:47,880 Speaker 1: of Baltimore. FBI officials rating her city council as well 293 00:16:47,920 --> 00:16:50,640 Speaker 1: as her home. It all comes down to her children's books. 294 00:16:50,640 --> 00:16:53,840 Speaker 1: Have you been following this story? It is wild now 295 00:16:53,840 --> 00:16:58,440 Speaker 1: this investigation goes federal national as everyone's calling on her 296 00:16:58,480 --> 00:17:02,360 Speaker 1: to resign. She had these books called Healthy Holly Children's Books, 297 00:17:02,400 --> 00:17:07,199 Speaker 1: and she was pushing them to government contracts in Maryland 298 00:17:07,640 --> 00:17:10,320 Speaker 1: eight hundred thousand dollars worth. We're gonna be following that 299 00:17:10,880 --> 00:17:14,000 Speaker 1: very carefully. She's been sick with pneumonia, calls out sick 300 00:17:14,040 --> 00:17:17,520 Speaker 1: for the last couple of weeks with pneumonia. She's denying 301 00:17:17,560 --> 00:17:20,080 Speaker 1: all of these accusations that are being made against her. 302 00:17:20,160 --> 00:17:23,880 Speaker 1: There's an acting mayor who's serving in Baltimore, but everybody, 303 00:17:23,920 --> 00:17:27,200 Speaker 1: including the governor, Larry Hogan, who may or maynight, may 304 00:17:27,320 --> 00:17:29,639 Speaker 1: or may not challenge Trump in a primary on the 305 00:17:29,680 --> 00:17:35,200 Speaker 1: Republican side. He's calling on her to resign. To fascinating story. 306 00:17:35,200 --> 00:17:38,919 Speaker 1: Fascinating story. I'm hooked on it. Another big number of 307 00:17:38,960 --> 00:17:42,600 Speaker 1: the day, Uber. Have you followed Uber? They're aiming for 308 00:17:42,640 --> 00:17:47,000 Speaker 1: an I p O valuation for as much as ninety 309 00:17:47,040 --> 00:17:51,399 Speaker 1: billion dollars, according to people familiar with the matter. That 310 00:17:51,560 --> 00:17:57,040 Speaker 1: headline crossing the Bloomberg terminal by my colleagues Olivia Zeleski 311 00:17:57,160 --> 00:18:01,320 Speaker 1: and Eric Newcomer. I'm Kevin Cerelich, chief Washington correspondent for 312 00:18:01,359 --> 00:18:05,600 Speaker 1: Bloomberg Television and Bloomberg Radio. I'm joined in studio here 313 00:18:05,640 --> 00:18:09,160 Speaker 1: in Washington, d C. By an all star panel. Kristin Han, 314 00:18:09,320 --> 00:18:14,160 Speaker 1: democratic strategist, former Blue Dog Coalition communications director. Now she's 315 00:18:14,200 --> 00:18:18,600 Speaker 1: a senior advisor at Rock Solutions and Doug High. He 316 00:18:18,720 --> 00:18:22,440 Speaker 1: is a Republican strategist, former r n C communications director, 317 00:18:22,920 --> 00:18:26,600 Speaker 1: and former deputy chief of staff to the former House 318 00:18:26,760 --> 00:18:29,440 Speaker 1: Majority Leader Eric Cancer. Thank you both for being here. 319 00:18:29,480 --> 00:18:32,879 Speaker 1: We were talking about how former Vice President Joe Biden's 320 00:18:32,920 --> 00:18:37,240 Speaker 1: re entry into the race resets the crowded Democratic field, 321 00:18:37,840 --> 00:18:41,600 Speaker 1: and on issues pertaining to his financial record. He's largely 322 00:18:41,640 --> 00:18:44,480 Speaker 1: seen as more of a centrist, but how will he 323 00:18:44,560 --> 00:18:49,879 Speaker 1: compete for that populous vote in this populous era, especially 324 00:18:49,920 --> 00:18:53,000 Speaker 1: against the likes of Senator Bernie Sanders. Take a listen 325 00:18:53,080 --> 00:18:56,679 Speaker 1: to what Senator Sanders had to say about President Trump 326 00:18:56,720 --> 00:19:01,640 Speaker 1: as well as his Democratic presidential challenger, Joe Biden. Joe 327 00:19:01,680 --> 00:19:05,200 Speaker 1: Biden is a friend of mine. Joe and I disagree 328 00:19:05,320 --> 00:19:09,480 Speaker 1: on many, many major issues. I look forward to a 329 00:19:10,240 --> 00:19:14,560 Speaker 1: issue oriented campaign where we discuss the important issues facing 330 00:19:14,680 --> 00:19:18,080 Speaker 1: the American people. But this I am confident though, is 331 00:19:18,119 --> 00:19:20,480 Speaker 1: that at the end of the Democratic primary, whether I win, 332 00:19:20,560 --> 00:19:23,640 Speaker 1: whether Joe Winson with anybody else wins, we're gonna see 333 00:19:23,640 --> 00:19:27,840 Speaker 1: Democrats come together to defeat the most dangerous president in 334 00:19:27,880 --> 00:19:30,520 Speaker 1: the modern history of this country, which is President Trump. 335 00:19:31,000 --> 00:19:35,040 Speaker 1: So that was Bernie Sanders. Christen, he's playing nice when 336 00:19:35,040 --> 00:19:38,359 Speaker 1: did the gloves come off shortly? You know, the biggest 337 00:19:38,359 --> 00:19:42,399 Speaker 1: difference between Bernie Sanders and Joe Biden the fact that 338 00:19:42,440 --> 00:19:44,760 Speaker 1: Bernie Sanders been sent it for how many years and 339 00:19:44,760 --> 00:19:49,679 Speaker 1: it's never accomplished. People would disagree his supporters, I can, 340 00:19:49,800 --> 00:19:51,840 Speaker 1: they're driving off the road, they are driving off the 341 00:19:51,960 --> 00:19:57,960 Speaker 1: rocking horns. He's pure, he's ideological. It's because he's never compromised. 342 00:19:58,000 --> 00:20:00,720 Speaker 1: It's very easy to sit in your ideological corner and 343 00:20:00,760 --> 00:20:02,760 Speaker 1: not do anything. And what Joe Biden has done in 344 00:20:02,840 --> 00:20:05,480 Speaker 1: the exact opposite. He's actually worked with people across the aisle, 345 00:20:05,480 --> 00:20:08,639 Speaker 1: work with people in his own party to actually move 346 00:20:09,080 --> 00:20:12,280 Speaker 1: progressive policies forward. Yeah. Look, I think this is part 347 00:20:12,320 --> 00:20:15,240 Speaker 1: of the divide that Republicans have had basically to to determine, 348 00:20:15,520 --> 00:20:17,960 Speaker 1: you know, what is principle and what is attitude. And 349 00:20:18,119 --> 00:20:20,760 Speaker 1: well we resolved that three years ago to two years 350 00:20:20,760 --> 00:20:23,680 Speaker 1: ago by saying, well, this is attitude. Um, that's part 351 00:20:23,720 --> 00:20:25,600 Speaker 1: of the that's part of the fight that Democrats are 352 00:20:25,600 --> 00:20:28,240 Speaker 1: going to continue to have, whether it's Congress with their 353 00:20:28,240 --> 00:20:31,320 Speaker 1: own kind of House Democratic Freedom Caucus. Uh, that's going 354 00:20:31,359 --> 00:20:34,040 Speaker 1: to make more and more news talk, more noise talk, 355 00:20:34,160 --> 00:20:36,800 Speaker 1: more and more about impeachment, which isn't really about legislative 356 00:20:36,800 --> 00:20:39,760 Speaker 1: solutions to issues per se. That's going to spill into 357 00:20:40,280 --> 00:20:44,320 Speaker 1: the presidential election as well, and and that's where we'll 358 00:20:44,359 --> 00:20:46,840 Speaker 1: find out whether Democrats want to be pure or whether 359 00:20:46,920 --> 00:20:49,320 Speaker 1: or not they want to win. And you know those 360 00:20:49,359 --> 00:20:52,160 Speaker 1: two may very much be mutually exclusive. You know, we're 361 00:20:52,200 --> 00:20:56,000 Speaker 1: on the even the milk and conference next week where 362 00:20:56,080 --> 00:21:00,520 Speaker 1: virtually everyone from the economic circles that all of us 363 00:21:01,320 --> 00:21:05,480 Speaker 1: UH discussed with and engage in discourse with. And we're 364 00:21:05,520 --> 00:21:08,200 Speaker 1: also on the eve next week of Secretary Elaine Chow 365 00:21:08,440 --> 00:21:12,119 Speaker 1: as well as UH President Trump and House Speaker Nancy 366 00:21:12,119 --> 00:21:16,960 Speaker 1: Pelosi getting together behind the scenes to discuss infrastructure. Now, 367 00:21:17,000 --> 00:21:18,919 Speaker 1: I don't think really anybody believes that there's going to 368 00:21:18,960 --> 00:21:24,000 Speaker 1: be a major infrastructure package on during this Democratic primary space, 369 00:21:24,760 --> 00:21:29,720 Speaker 1: especially when arguably one of the former Vice President Biden's 370 00:21:30,040 --> 00:21:35,080 Speaker 1: key ideas will be infrastructure. No Christian Well, I I 371 00:21:35,600 --> 00:21:37,520 Speaker 1: think that I'm not sure something is going to get done. 372 00:21:37,520 --> 00:21:40,640 Speaker 1: But if there is, If there is one area that 373 00:21:40,800 --> 00:21:42,960 Speaker 1: I think that the House and the Senate could work 374 00:21:42,960 --> 00:21:44,960 Speaker 1: with this White House, it's on in the next year. 375 00:21:45,000 --> 00:21:47,480 Speaker 1: It's infrastructure. What on a package on a on a 376 00:21:47,520 --> 00:21:50,879 Speaker 1: major economic stimulus package. If not that, then you can 377 00:21:50,880 --> 00:21:52,560 Speaker 1: break it up into pieces. But I have to tell 378 00:21:52,600 --> 00:21:55,200 Speaker 1: you a lot of these, these these members that won 379 00:21:55,480 --> 00:21:58,280 Speaker 1: in these Democratic these centrist Democrats for the most of 380 00:21:58,320 --> 00:22:01,199 Speaker 1: the caucus um that they gave the House back to 381 00:22:01,280 --> 00:22:03,919 Speaker 1: the to the Democrats, excuse me. They they are the 382 00:22:03,920 --> 00:22:07,520 Speaker 1: ones who need to deliver for their constituents, and infrastructure 383 00:22:07,520 --> 00:22:09,040 Speaker 1: is something that they a lot of them talked about. 384 00:22:09,080 --> 00:22:10,720 Speaker 1: So they haven't incentive to work with the White House. 385 00:22:10,720 --> 00:22:14,320 Speaker 1: They want to. Yeah, the challenges. It's very hard in 386 00:22:14,320 --> 00:22:17,360 Speaker 1: Washington to get big things done anyways, but it's certainly 387 00:22:17,359 --> 00:22:19,399 Speaker 1: hard when you have divided government. There's a reason when 388 00:22:19,440 --> 00:22:21,720 Speaker 1: the opposition party saying that they're debating whether or not 389 00:22:21,760 --> 00:22:24,399 Speaker 1: to impeach the president exactly. There there's a reason that 390 00:22:24,480 --> 00:22:27,760 Speaker 1: it took a Republican Congress to pass tax reform, there's 391 00:22:27,760 --> 00:22:31,600 Speaker 1: a reason that it took a Democratic Congress to pass Obamacare. Um. 392 00:22:31,680 --> 00:22:33,520 Speaker 1: And then you then you put in Donald Trump, who 393 00:22:33,600 --> 00:22:35,439 Speaker 1: some days wants to be a great deal maker, the 394 00:22:35,440 --> 00:22:38,520 Speaker 1: next day may not because he's name calling. I think 395 00:22:38,520 --> 00:22:41,399 Speaker 1: it's it's a very tall order that maybe should have 396 00:22:41,440 --> 00:22:45,639 Speaker 1: been tried two years ago, But at this point very hard. Well, 397 00:22:45,920 --> 00:22:47,720 Speaker 1: and I agree. I mean when we said a c 398 00:22:47,920 --> 00:22:50,960 Speaker 1: A we had um, the Democrats controlled everything. The same 399 00:22:50,960 --> 00:22:53,520 Speaker 1: thing with tax reform. Um. But I think that there 400 00:22:53,560 --> 00:22:55,600 Speaker 1: are small incremental things that actually can get done, that 401 00:22:55,640 --> 00:22:57,440 Speaker 1: are getting done. I mean, you look at the prison 402 00:22:57,480 --> 00:22:59,840 Speaker 1: reform and that was actually a huge deal. Um. And 403 00:23:00,000 --> 00:23:02,240 Speaker 1: that's where Dick Durban, one of the most liberal members 404 00:23:02,320 --> 00:23:04,320 Speaker 1: in the leadership in the Senate side work with Jerry 405 00:23:04,359 --> 00:23:06,600 Speaker 1: Kushner and went down to the floor and praised him 406 00:23:06,760 --> 00:23:08,959 Speaker 1: for his work on prison board. So I I am 407 00:23:09,000 --> 00:23:11,200 Speaker 1: a skeptical as you are belieing me. But but there 408 00:23:11,200 --> 00:23:13,560 Speaker 1: are there are incremental things. And you've got a new 409 00:23:13,640 --> 00:23:17,080 Speaker 1: website where folks can follow some of those more policy areas. 410 00:23:17,119 --> 00:23:19,399 Speaker 1: What is it yet the well News dot com just 411 00:23:19,440 --> 00:23:22,119 Speaker 1: where business come of intersects with Congress alright, coming up, 412 00:23:22,160 --> 00:23:25,960 Speaker 1: we talk trade policy. Japanese Prime Minister Shinzo Abe is 413 00:23:26,000 --> 00:23:28,440 Speaker 1: set to be at the White House tomorrow. This is 414 00:23:28,520 --> 00:23:31,960 Speaker 1: China's President shi jing Ping makes an economic pitch of 415 00:23:32,000 --> 00:23:35,320 Speaker 1: his own back in Beijing. You can download the sound 416 00:23:35,359 --> 00:23:38,280 Speaker 1: on podcast on Apple iTunes, at Bloomberg dot Com, or 417 00:23:38,320 --> 00:23:41,120 Speaker 1: by downloading the Bloomberg Business app. You can also find 418 00:23:41,160 --> 00:23:44,359 Speaker 1: us on radio dot Com, I Heart Radio, and Spotify. 419 00:23:44,680 --> 00:23:49,040 Speaker 1: Panel stays Kristen Han, Doug High, I'm Kevin Surreally you're 420 00:23:49,080 --> 00:23:54,480 Speaker 1: listening to Bloomberg. This is Sound On with Kevin's you 421 00:23:54,600 --> 00:23:58,879 Speaker 1: related on Bloomberg and one O five seven A M 422 00:23:59,000 --> 00:24:03,000 Speaker 1: H D two bullsom all born to run. No not 423 00:24:03,280 --> 00:24:07,800 Speaker 1: Beto O'Rourke. Former Vice President Joe Biden. He's hoping that 424 00:24:07,840 --> 00:24:10,480 Speaker 1: the third time is the charm. He formally announced that 425 00:24:10,560 --> 00:24:14,159 Speaker 1: he is entering into your mics. Are on panel, entering 426 00:24:14,200 --> 00:24:20,000 Speaker 1: into the entering into presidential race. Our panel always they're 427 00:24:20,080 --> 00:24:23,520 Speaker 1: they're still talking politics. Doug High is a Republican strategist, 428 00:24:23,600 --> 00:24:27,200 Speaker 1: former r n C communications director and former deputy chief 429 00:24:27,200 --> 00:24:29,840 Speaker 1: of staff to Eric Cantor. Christ And Hant is a 430 00:24:29,840 --> 00:24:34,160 Speaker 1: Democratic strategist, a senior advisor at Rock Solutions, the former 431 00:24:34,160 --> 00:24:38,040 Speaker 1: Blue Dog Coalition communications director. We were talking about a 432 00:24:38,160 --> 00:24:41,720 Speaker 1: Senator Bernie Sanders and the contrast between former Vice President 433 00:24:41,800 --> 00:24:45,520 Speaker 1: Joe Biden his rollout and all of that. But I 434 00:24:45,520 --> 00:24:47,879 Speaker 1: do want to bring it back to policy for a minute, 435 00:24:47,880 --> 00:24:51,439 Speaker 1: because tomorrow President Donald Trump is set to meet with 436 00:24:51,560 --> 00:24:55,240 Speaker 1: Japanese Prime Minister Shinzo Abe they are going to be 437 00:24:55,280 --> 00:24:59,040 Speaker 1: talking about trade, they're going to be talking about national security. 438 00:24:59,400 --> 00:25:02,560 Speaker 1: And it all comes in the midst of intensifying trade 439 00:25:02,560 --> 00:25:06,760 Speaker 1: talks on multiple fronts for the United States, the U 440 00:25:06,840 --> 00:25:10,600 Speaker 1: S and China. Of course, Treasury Secretary Steve Amolution as 441 00:25:10,600 --> 00:25:13,639 Speaker 1: well as US Trade Representative Bob Lightheiser, they're headed over 442 00:25:13,720 --> 00:25:17,800 Speaker 1: to China next week to meet with Vice Premier leja. 443 00:25:18,200 --> 00:25:22,240 Speaker 1: In fact, Treasury Secretary Monution was supposed to be at 444 00:25:22,280 --> 00:25:25,919 Speaker 1: milk In but he bailed and bailed. He just you know, 445 00:25:26,000 --> 00:25:30,000 Speaker 1: pulled out because the trade talks with what China are 446 00:25:30,040 --> 00:25:35,119 Speaker 1: are are quickly intensifying. So Doug High, when you look 447 00:25:35,200 --> 00:25:38,800 Speaker 1: at the trade talks and how they are going, what 448 00:25:39,000 --> 00:25:42,800 Speaker 1: specifically do you think the administration is ultimately going to 449 00:25:42,840 --> 00:25:46,120 Speaker 1: try to get out of the Japanese tomorrow. Uh, It's 450 00:25:46,160 --> 00:25:48,200 Speaker 1: it's hard to say because this is one of those 451 00:25:48,280 --> 00:25:52,159 Speaker 1: areas where the administration isn't entirely predictable. Their rhetoric is 452 00:25:52,200 --> 00:25:55,159 Speaker 1: often predictable. Um not so much on the Japanese as 453 00:25:55,160 --> 00:25:58,320 Speaker 1: say the Chinese, but there's a tough talk that sometimes 454 00:25:58,359 --> 00:26:02,240 Speaker 1: gets followed through, sometimes doesn't get followed through. And Trump 455 00:26:02,320 --> 00:26:05,879 Speaker 1: does employ this kind of chaos theory, Madman theory of 456 00:26:06,359 --> 00:26:10,159 Speaker 1: keep people guessing, which I don't always necessarily disagree with, 457 00:26:10,680 --> 00:26:13,760 Speaker 1: But it's hard to determine where there's a strategy and 458 00:26:13,760 --> 00:26:16,120 Speaker 1: where where there's not. It's really hard to make firm 459 00:26:16,160 --> 00:26:19,280 Speaker 1: predictions here. Yeah, I mean I think that um, the 460 00:26:19,320 --> 00:26:21,280 Speaker 1: Prime Minister is going to be talking about you know, 461 00:26:21,320 --> 00:26:26,880 Speaker 1: he's he's concerned about this increasing protectionalism, you know, isolationism 462 00:26:26,880 --> 00:26:28,919 Speaker 1: that's it's kind of not just in the United States 463 00:26:28,920 --> 00:26:32,040 Speaker 1: but all across um, in countries across the world. So 464 00:26:32,160 --> 00:26:36,120 Speaker 1: you know, like Duck said, he's he's unpredictable. UM, I don't. 465 00:26:36,160 --> 00:26:38,640 Speaker 1: I don't think you know, I'm not ever sure if 466 00:26:38,680 --> 00:26:42,280 Speaker 1: they does the president ever go into these these conversations 467 00:26:42,400 --> 00:26:45,000 Speaker 1: with a with a clear intent and what they want 468 00:26:45,040 --> 00:26:46,960 Speaker 1: out of the at the end. I'm just not sure 469 00:26:47,000 --> 00:26:49,159 Speaker 1: that's ever the case. Yeah. And we're also we've got 470 00:26:49,200 --> 00:26:51,160 Speaker 1: politics coming up here, which is going to be very 471 00:26:51,160 --> 00:26:53,520 Speaker 1: important to Trump, you know, as he's as he's talked, 472 00:26:53,520 --> 00:26:57,040 Speaker 1: a tough game. Um. And and I would say again, 473 00:26:57,119 --> 00:26:59,840 Speaker 1: put put some tough tactics in place, especially with China. 474 00:27:00,359 --> 00:27:02,720 Speaker 1: That resonates with the base, It resonates in certain part 475 00:27:02,720 --> 00:27:06,359 Speaker 1: of the countries of the country, unfortunately terrorists adults. But 476 00:27:06,400 --> 00:27:09,800 Speaker 1: he hasn't made President shi Jing paying a boogeyman. I mean, 477 00:27:09,800 --> 00:27:12,560 Speaker 1: he's he's literally tried to make Speaker Pelosi more of 478 00:27:12,160 --> 00:27:17,520 Speaker 1: a political boogeyman than than President she sure, um. But 479 00:27:17,840 --> 00:27:19,359 Speaker 1: what I'm what I'm talking about is just how he 480 00:27:19,440 --> 00:27:21,199 Speaker 1: and you know, he says it in a certain way too. 481 00:27:21,240 --> 00:27:24,840 Speaker 1: He doesn't just say Chinese as China um, China as 482 00:27:24,880 --> 00:27:27,480 Speaker 1: if you you hear the word China and then you 483 00:27:27,480 --> 00:27:30,119 Speaker 1: you immediately, you know, get it. And and certainly on 484 00:27:30,160 --> 00:27:32,440 Speaker 1: the Republican side, you're not gonna go wrong being too 485 00:27:32,440 --> 00:27:35,480 Speaker 1: tough on on China, get regardless of whether you're playing 486 00:27:35,480 --> 00:27:38,359 Speaker 1: a carrot and stick game with the country visa via 487 00:27:38,400 --> 00:27:42,880 Speaker 1: the leader. But the politics of this and how um, 488 00:27:42,920 --> 00:27:45,800 Speaker 1: how terrorifts are going to really begin and have begun 489 00:27:46,320 --> 00:27:48,800 Speaker 1: impacting the Trump voters who support him to be tough 490 00:27:48,840 --> 00:27:51,959 Speaker 1: on China and are now facing the repercussions of it. 491 00:27:52,320 --> 00:27:54,680 Speaker 1: That's a that's a strange place for this administration to base. 492 00:27:54,800 --> 00:27:57,560 Speaker 1: Such a good point, and it's one that really taps 493 00:27:57,560 --> 00:28:00,480 Speaker 1: into the populace debate that's being had right now. My 494 00:28:00,560 --> 00:28:03,280 Speaker 1: colleague David Wayner has a great story up on the 495 00:28:03,280 --> 00:28:06,520 Speaker 1: Bloomberg terminal. He went to the conference at the UH 496 00:28:07,160 --> 00:28:11,760 Speaker 1: at the St. Regis Hotel in Manhattan, great hotel, nice hotel, 497 00:28:12,200 --> 00:28:14,760 Speaker 1: right by Trump Tower actually as well. I guess who 498 00:28:14,760 --> 00:28:18,320 Speaker 1: was at this conference Steve Bannon. Steve Bannon was at 499 00:28:18,320 --> 00:28:22,359 Speaker 1: this conference. Steve Bannon at the conference Thursday at st 500 00:28:22,200 --> 00:28:25,639 Speaker 1: at the St. Regis in Manhattan, and he says, quote 501 00:28:25,640 --> 00:28:29,080 Speaker 1: to your point, Doug, quote, Corporate America is the lobbying 502 00:28:29,280 --> 00:28:32,800 Speaker 1: arm for the Chinese Communist Party, and Wall Street is 503 00:28:32,840 --> 00:28:36,200 Speaker 1: the investor relations department. I think we gotta walk away 504 00:28:36,200 --> 00:28:41,080 Speaker 1: from this right now. We gotta start playing hardball smash mouth. Wow. 505 00:28:41,520 --> 00:28:45,760 Speaker 1: So Steve Bannon is essentially saying, hey, go tough on, 506 00:28:46,560 --> 00:28:49,360 Speaker 1: go tough on China. Listen to Peter Navarro, President Trump, 507 00:28:49,400 --> 00:28:53,200 Speaker 1: and don't listen to Secretary monution. But to Dougs point 508 00:28:53,280 --> 00:28:58,000 Speaker 1: Christen about how uh the tariffs, the business community is 509 00:28:58,040 --> 00:29:01,320 Speaker 1: so anti tariff as it in. Trump says he's tariff man. 510 00:29:01,760 --> 00:29:05,200 Speaker 1: Steve Bannon likes that he's tariff man. Uh. I mean, 511 00:29:05,280 --> 00:29:09,480 Speaker 1: this is a very interesting predicament. The president find themselves 512 00:29:09,720 --> 00:29:13,560 Speaker 1: it is, and you know, to begin with trade, really didn't. Ever. 513 00:29:14,040 --> 00:29:16,360 Speaker 1: It's it's more fall down on regional lines, you know, 514 00:29:16,440 --> 00:29:18,720 Speaker 1: not than political lines, you know. And that's always the 515 00:29:18,760 --> 00:29:20,720 Speaker 1: way it's been. So you know, he comes in just 516 00:29:20,840 --> 00:29:23,280 Speaker 1: like everything else and mixes it all up. UM. And 517 00:29:23,320 --> 00:29:25,880 Speaker 1: so you've got the you know, the business community, UM, 518 00:29:26,200 --> 00:29:29,400 Speaker 1: in their in their you know, interests. But then you've 519 00:29:29,400 --> 00:29:31,440 Speaker 1: also got the politics and like Doug said, I mean 520 00:29:31,480 --> 00:29:33,960 Speaker 1: we're gonna we're about to go into a major election, 521 00:29:34,560 --> 00:29:37,160 Speaker 1: and in their farmers out there that are hurting right now. 522 00:29:37,360 --> 00:29:39,520 Speaker 1: And if if you look at commodities, corn is up today, 523 00:29:39,560 --> 00:29:43,880 Speaker 1: soybeans are up today. UM. These are massively important commodities 524 00:29:43,920 --> 00:29:46,720 Speaker 1: that um, that generate a lot of money. UM. And 525 00:29:46,800 --> 00:29:51,280 Speaker 1: every relatively speaking, every corn farmer in Iowa, every soybean 526 00:29:51,280 --> 00:29:55,560 Speaker 1: farmer in Iowa or from North Carolina, sweet potata farmer UM, 527 00:29:55,600 --> 00:29:58,320 Speaker 1: by and large supports Donald Trump. What they don't support 528 00:29:58,600 --> 00:30:00,760 Speaker 1: is their pocketbook getting hit. And they've gotten to hit 529 00:30:00,760 --> 00:30:03,480 Speaker 1: a little bit. It hasn't been too bad yet, UM, 530 00:30:03,480 --> 00:30:05,840 Speaker 1: But that's where they're nervous. They want to support this president. 531 00:30:05,840 --> 00:30:07,920 Speaker 1: They love tough talk on China. They don't think China 532 00:30:07,960 --> 00:30:10,760 Speaker 1: has been fair or you can talk about autos, you know, 533 00:30:10,800 --> 00:30:14,000 Speaker 1: and Mexico and so forth. Um, but it's then the 534 00:30:14,040 --> 00:30:16,200 Speaker 1: impact that they feel, and let's take it to let's 535 00:30:16,200 --> 00:30:18,640 Speaker 1: take it to autos. I mean, unless forecast this out 536 00:30:18,640 --> 00:30:21,480 Speaker 1: a little bit, do you think I mean, the timeline 537 00:30:21,520 --> 00:30:24,400 Speaker 1: in terms of the calendar is that President she and 538 00:30:24,400 --> 00:30:26,360 Speaker 1: President Trump would have to have this one off meeting 539 00:30:26,840 --> 00:30:29,120 Speaker 1: before June if they're if they're going to do it, 540 00:30:29,280 --> 00:30:30,840 Speaker 1: which would mean that they would have to get to 541 00:30:30,920 --> 00:30:33,320 Speaker 1: some type of an agreement in the coming weeks, because 542 00:30:33,320 --> 00:30:34,800 Speaker 1: the White House has signaled that they're not going to 543 00:30:34,880 --> 00:30:37,320 Speaker 1: put President Trump in a situation where he storms out 544 00:30:37,320 --> 00:30:40,520 Speaker 1: of a meeting with the with the leader of the 545 00:30:40,520 --> 00:30:44,920 Speaker 1: the other largest world economy of that is China. So 546 00:30:45,240 --> 00:30:47,520 Speaker 1: do you think yes or no to both? Do you 547 00:30:47,560 --> 00:30:50,959 Speaker 1: think that we get this agreement with China before June? Christen? 548 00:30:52,720 --> 00:30:55,080 Speaker 1: I think it's hard to say. I think that we're 549 00:30:55,120 --> 00:30:57,200 Speaker 1: in a tough spot. He knows he's in a tough spot, 550 00:30:57,200 --> 00:30:58,960 Speaker 1: which is why I think he hasn't been playing hard, 551 00:30:59,080 --> 00:31:02,160 Speaker 1: you know, hardball. I think Trump wants a good picture, 552 00:31:02,200 --> 00:31:04,640 Speaker 1: a picture of a handshaken smiles. A deal is a 553 00:31:04,960 --> 00:31:07,560 Speaker 1: different issue. Do you think that Congress rotted the same question. 554 00:31:07,600 --> 00:31:09,480 Speaker 1: Do you think Congress ratifies U S M C A 555 00:31:09,560 --> 00:31:11,959 Speaker 1: not the two points out Christen, I think you do. 556 00:31:12,680 --> 00:31:16,440 Speaker 1: You know, you think Democrats are gonnacrats to get on board, 557 00:31:16,480 --> 00:31:18,680 Speaker 1: and that could be the rare by partisan moment for 558 00:31:18,720 --> 00:31:21,920 Speaker 1: this Congress working with the White House. Doff Yep, all right, 559 00:31:21,960 --> 00:31:23,920 Speaker 1: So did you see this because this is another forecast 560 00:31:23,920 --> 00:31:25,720 Speaker 1: that has been delayed as a result of the election, 561 00:31:26,360 --> 00:31:29,520 Speaker 1: which is the President is pushing offshore oil expansion to 562 00:31:29,640 --> 00:31:34,400 Speaker 1: after the Trump administration is delaying its bid to expand 563 00:31:34,440 --> 00:31:39,320 Speaker 1: oil drilling to new US waters until after the election. Wow, 564 00:31:40,000 --> 00:31:42,360 Speaker 1: I think that's kind of a big deal, Doug. It is. Look, 565 00:31:42,520 --> 00:31:45,240 Speaker 1: it's it's Obamacare, you know, just another version of it. 566 00:31:45,360 --> 00:31:47,960 Speaker 1: Of we think this is a great idea. We know 567 00:31:48,040 --> 00:31:50,400 Speaker 1: it's not popular, so the effects won't really be done 568 00:31:50,480 --> 00:31:52,600 Speaker 1: until after the election. And then you have the fact 569 00:31:52,600 --> 00:31:55,120 Speaker 1: that Rick Scott has a massive, massive voice in this 570 00:31:55,360 --> 00:31:59,440 Speaker 1: both as you know, former governor now Senator of Florida. 571 00:31:59,560 --> 00:32:02,240 Speaker 1: Administer Lord, it might be important to the election, maybe 572 00:32:02,480 --> 00:32:03,920 Speaker 1: is it a little bit? It's a little bit, a 573 00:32:03,960 --> 00:32:05,440 Speaker 1: little bit, all right, So what else is on your 574 00:32:05,520 --> 00:32:09,800 Speaker 1: radar we've got in terms of the congressional landscape. I mean, 575 00:32:10,120 --> 00:32:14,480 Speaker 1: there's there's the ever evolving debate over Medicare for all. 576 00:32:14,560 --> 00:32:16,320 Speaker 1: But but what I'll say is that if you're going 577 00:32:16,400 --> 00:32:18,720 Speaker 1: if you but it's going nowhere. But if you drill 578 00:32:18,800 --> 00:32:21,320 Speaker 1: down on this debate just a little bit more, you're 579 00:32:21,320 --> 00:32:25,520 Speaker 1: looking at bills like Medicare X, Medicare buying. These are 580 00:32:25,800 --> 00:32:28,920 Speaker 1: these are very real things, particularly in the House, and 581 00:32:28,960 --> 00:32:32,000 Speaker 1: I think that they have very real impacts on business 582 00:32:32,040 --> 00:32:34,520 Speaker 1: across the board in the healthcare industry. Yeah. Look, I 583 00:32:34,560 --> 00:32:36,320 Speaker 1: agree with I agree with Chris, and those are things 584 00:32:36,360 --> 00:32:38,360 Speaker 1: that can pass the House. They die in the Senate. 585 00:32:39,160 --> 00:32:42,720 Speaker 1: So we're not Medicare for all that can't pass the House. Yeah. Yeah, 586 00:32:43,200 --> 00:32:45,600 Speaker 1: when you're talking smaller bills, they go nowhere in the center. 587 00:32:45,920 --> 00:32:47,560 Speaker 1: But do you think that like, like do you think 588 00:32:47,600 --> 00:32:51,360 Speaker 1: that the megaphone of presidential races is just really gonna 589 00:32:51,400 --> 00:32:54,880 Speaker 1: like kind of make this even more political toxicity for 590 00:32:54,920 --> 00:32:58,720 Speaker 1: any Republicans to really emerge as sort of a consensus leader. 591 00:32:59,280 --> 00:33:02,360 Speaker 1: Oh sure, sure, But but I think also when you're 592 00:33:02,400 --> 00:33:06,120 Speaker 1: looking at members, not the presidential but the members in 593 00:33:06,120 --> 00:33:07,760 Speaker 1: the House and senator who have to go a little 594 00:33:07,800 --> 00:33:10,880 Speaker 1: bit more local in their races if they want to win. Um, 595 00:33:10,960 --> 00:33:13,360 Speaker 1: you know, they are looking for bipartisan wins a lot 596 00:33:13,360 --> 00:33:15,360 Speaker 1: of mars. So there are things that they can do 597 00:33:15,560 --> 00:33:17,200 Speaker 1: here and there. I do agree that, you know what, 598 00:33:17,360 --> 00:33:20,320 Speaker 1: what Ms McCall said, he was going to be uh 599 00:33:20,480 --> 00:33:23,440 Speaker 1: the Darth Vader or whatever anything that came over there 600 00:33:23,560 --> 00:33:28,120 Speaker 1: was gonna of all socialist bills. But ultimately, and I 601 00:33:28,200 --> 00:33:31,800 Speaker 1: mean that's that's what he was taking. Ultimately, there's all 602 00:33:31,880 --> 00:33:34,000 Speaker 1: We also need to be mindful it happens this year 603 00:33:34,120 --> 00:33:36,360 Speaker 1: or it doesn't happen for two years. There's nothing of 604 00:33:36,400 --> 00:33:38,720 Speaker 1: any substance that's going to get done in Washington in 605 00:33:38,720 --> 00:33:41,720 Speaker 1: a presidential election year, especially one that is Donald Trump 606 00:33:41,800 --> 00:33:44,720 Speaker 1: versus pick your cast of characters where that's WrestleMania and 607 00:33:44,800 --> 00:33:51,640 Speaker 1: it's wrestled Mania. Wow. You know, you know, wow, I 608 00:33:51,640 --> 00:33:54,320 Speaker 1: remember wrestle Mania. It is recess. I hope folks are 609 00:33:54,480 --> 00:33:57,040 Speaker 1: enjoying their recess. I was talking with the former aid 610 00:33:57,120 --> 00:33:59,960 Speaker 1: in the White House. You've got out of the wrest 611 00:34:00,000 --> 00:34:01,719 Speaker 1: Solmania and the White House if you want to call 612 00:34:01,760 --> 00:34:03,640 Speaker 1: it that, And he said to me, I got I 613 00:34:03,640 --> 00:34:05,680 Speaker 1: had to get my tux fixed because he's going to 614 00:34:05,680 --> 00:34:08,200 Speaker 1: the White House Correspondence Center now that he's allowed to go, 615 00:34:08,400 --> 00:34:12,279 Speaker 1: since he doesn't work within the White House anymore, now 616 00:34:12,320 --> 00:34:15,359 Speaker 1: that he has left the administration. Because the Trump administration, 617 00:34:16,880 --> 00:34:20,040 Speaker 1: they're not allowed. How ironic though, the more they talk 618 00:34:20,040 --> 00:34:21,520 Speaker 1: about fake news, the more they want to go to 619 00:34:21,560 --> 00:34:24,759 Speaker 1: those dinners. We'll leave it there, Candell, thank you so much, Doug, Hi, 620 00:34:24,920 --> 00:34:27,520 Speaker 1: Kristen Han appreciate it. That's it for me. I'm Kevin Creli. 621 00:34:27,760 --> 00:34:28,880 Speaker 1: You're listening to Bloomberg