WEBVTT - Nashville Shooting Renews Assault Weapon Debate

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<v Speaker 1>Buy from the Bloomberg Interact day Burgers Studios. This is

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<v Speaker 1>Bloomberg day Break for Tuesday, March twenty eighth. Coming up today,

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<v Speaker 1>another deadly school shooting leads to a renewed plea from

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<v Speaker 1>President Biden have to do more. Top conviolence. Tension eases

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<v Speaker 1>in Israel as Benjamin net and Yahoo delays a gland

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<v Speaker 1>to weaken the judiciary, and bank hearings get underway on

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<v Speaker 1>the Capitol Hill. Your Jersey has taken over the police

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<v Speaker 1>department in one major city. Plus North Korea threatens nuclear

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<v Speaker 1>use at any time as a US aircraft carrier arvives.

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<v Speaker 1>Michael Barner. More ahead, I'm John Flashed, Aaron Sports, the

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<v Speaker 1>nixt beat the Rockets, the Islanders beat the Devils, and

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<v Speaker 1>the latest on the Jets attempt a get Aaron Rodgers.

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<v Speaker 1>That's all straight ahead on Bloomberg day Break. The business

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<v Speaker 1>news you need disturn your day in just one fifteen

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<v Speaker 1>minute podcast, each pointing on Apples, Spotify, The Bloomberg Business

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<v Speaker 1>Appen everywhere you get your podcasts. Good morning, I'm Nathan

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<v Speaker 1>Hagar and I'm Cameron Moscow. Here are the stories we're

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<v Speaker 1>following today. First, we begin with another mass shooting, this

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<v Speaker 1>time at an elementary school housed in a church. Police

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<v Speaker 1>in Nashville say a twenty eight year old woman shot

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<v Speaker 1>and killed three nine year olds and three adults at

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<v Speaker 1>the Covenant School before police killed her. And now President

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<v Speaker 1>Biden is renewing his call for an assault weapons ban.

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<v Speaker 1>We have to do more just top con violence. It's

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<v Speaker 1>ripping our communities apart, a soul of this nation, ripping

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<v Speaker 1>it's a very soul of the nation. But President Biden's

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<v Speaker 1>words are already getting a cold reception from Republicans, including

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<v Speaker 1>Tennessee Congressman Tim Burchett. The common thread is you've got

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<v Speaker 1>somebody who's mentally ill and evil, just gets a lot

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<v Speaker 1>evil in their art, and they're going to do something

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<v Speaker 1>no matter what. They're gonna do it with a knife,

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<v Speaker 1>he'll do it with whatever, or a bomb or fertilizer bomb.

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<v Speaker 1>Republican Tim Burchett of Tennessee. And in the interests of transparency,

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<v Speaker 1>we should note that Michael Bloomberg, the founder and majority

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<v Speaker 1>owner of Bloomberg Radio parent company Bloomberg LP, donates to

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<v Speaker 1>group that support gun control and Nathan. Another major story

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<v Speaker 1>that we're following involves the unrest in Israel tensions are

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<v Speaker 1>now easing after Prime Minister Benjamin Netanyah, who said he'll

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<v Speaker 1>delay a controversial plan to weaken the judiciary again. More

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<v Speaker 1>from Bloombery Tel Aviv Bureau chief Ethan Brauner, the precipitating

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<v Speaker 1>event was on a Sunday night when he fired the

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<v Speaker 1>defense minister. And by firing, you of gallant. This is

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<v Speaker 1>a guy who has been a nable commander, who's spent

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<v Speaker 1>his whole life in service to the country, and who

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<v Speaker 1>got on TV on Saturday night and said, listen, we

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<v Speaker 1>need to take a break from this. This country is

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<v Speaker 1>split and our enemies are laughing and taking advantage of it,

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<v Speaker 1>and I, in the name of national security, ask for

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<v Speaker 1>a break. And then he was fired twenty four hours later.

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<v Speaker 1>And I think that most people in this country felt

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<v Speaker 1>that that was a bad move, and they took to

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<v Speaker 1>the streets and he ended up having to listen to

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<v Speaker 1>them and Bloomber's Ethan Brauner and tel Aviv says Natanyah,

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<v Speaker 1>who is ready to talk with opponents in hopes of

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<v Speaker 1>reaching a compromise. Well, Karen rolls So. Seeing civil unrest

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<v Speaker 1>in France in the form of nationwide strikes, French unions

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<v Speaker 1>are trying to force President Emmanuel McCrone to reverse a

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<v Speaker 1>decision in acting unpopular pension reforms, and we get more

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<v Speaker 1>from Bloomberg's Caroline Conan in Paris. The anger in the

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<v Speaker 1>streets of Paris is still very much there. It is

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<v Speaker 1>the tenth day of the general strikes since the middle

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<v Speaker 1>of January, and the unions are hoping to better today

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<v Speaker 1>than last Thursday, when you heard about one point one

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<v Speaker 1>million people in the street. Bloomberg's Caroline Conan in Paris

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<v Speaker 1>says the backlash is centered on a proposal to raise

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<v Speaker 1>the minimum retirement age by two years to sixty four.

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<v Speaker 1>Well back here in the US, Nathan, turmoil in the

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<v Speaker 1>banking sector is in the spotlight. On Capitol Hill, the

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<v Speaker 1>Senate Banking Committee holds the first of several hearings on

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<v Speaker 1>the collapse of Silicon Valley Bank. Amy Morris has details

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<v Speaker 1>from our Bloomberg ninety nine one newsroom in Washington. It

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<v Speaker 1>will be an open hearing with FDIC Chair Martin Gruenberg,

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<v Speaker 1>Treasury Undersecretary Nellie Lang, and FED Vice Chair Michael Barr.

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<v Speaker 1>Terry Haynes is the founder of Pangaea Policy, and he

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<v Speaker 1>tells Bloomberg Daybreak. Markets want clarity and answers, but they're

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<v Speaker 1>not going to get those from these hearings. I will say, though,

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<v Speaker 1>the markets are already starting to see a path here.

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<v Speaker 1>You know, they see the regionals being relied upon, and

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<v Speaker 1>they see the means for targeted government support. And he says,

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<v Speaker 1>don't expect any new bills or regulations to come from

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<v Speaker 1>these hearings because lawmakers can't even agree on what caused

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<v Speaker 1>the crisis in Washington. I'm maybe Morris Bloomberg Daybreak, all right, Amy,

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<v Speaker 1>thank you. The banking turmoil is adding to the debate

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<v Speaker 1>on when the Fed should start cutting rates, and we

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<v Speaker 1>get the latest on that Live with Bloomberg's John Tucker.

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<v Speaker 1>John and ifan Jeff Gunlock has his finger on the

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<v Speaker 1>pulse of the economy, he says it's clearly weak. The

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<v Speaker 1>Double Line Capital founder tells CNBC recession will start in

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<v Speaker 1>a few months. He sees rate cuts this year. Well,

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<v Speaker 1>he's not the only one wighing in. Philip Jefferson, one

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<v Speaker 1>of the FED governors, took a much different line in

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<v Speaker 1>a speech yesterday. He said the inflation fight is going

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<v Speaker 1>to take some time, and they'll mention anywhere there of

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<v Speaker 1>rate cuts. Adding to the debate the recent banking turmboil

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<v Speaker 1>it may act as a de facto rate hike. Live

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<v Speaker 1>in New York, I'm John Tucker, Bloomberg Daybreak. All Right, John,

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<v Speaker 1>thanks well. In corporate news this morning, the job cuts

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<v Speaker 1>have a gun at Disney, and we get the latest

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<v Speaker 1>live at the Bloomberry. Steve Rappaport, Steve, good morning, Good morning,

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<v Speaker 1>Karen and Nathan. The purge of seven thousand employees as

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<v Speaker 1>part of Disney's plan for saving five and a half

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<v Speaker 1>billion dollars. CEO Bob Eiger, in a memo to employees yesterday,

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<v Speaker 1>said the first group to go will be notified over

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<v Speaker 1>the next four days. A second, larger round of cuts

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<v Speaker 1>will follow next month. Since retaking the rains at Disney,

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<v Speaker 1>Iger set out to improve the company's financial performance. He

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<v Speaker 1>also reshaped the structure at Disney's TV and movie businesses,

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<v Speaker 1>giving more control to creative leaders in those divisions. Live

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<v Speaker 1>in New York, I'm Steve Rappiport, Bloomberg Daybreak. Okay, Steve,

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<v Speaker 1>thanks a. Meta Platforms is making more moves affecting its

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<v Speaker 1>work force. The Wall Street Journal says the Facebook owner

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<v Speaker 1>plans to lower some bonus payouts and more frequently assess

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<v Speaker 1>employee performance. Earlier this month, Meta set it planned to

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<v Speaker 1>lay off about ten thousand employees and eliminate five thousand

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<v Speaker 1>open rolls, and was on top of eleven thousand job

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<v Speaker 1>cuts at Meta back in November. It's forty three degrees

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<v Speaker 1>in New York, Chanceford. Isolated early morning shower, otherwise mostly

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<v Speaker 1>cloudy in a high year fifty today. Partly cloudy tonight

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<v Speaker 1>with lows in the upper thirties. Coming out to take

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<v Speaker 1>a look at some of the other news making headlines

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<v Speaker 1>in New York and around the world with Bloomberg's Michael Bark.

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<v Speaker 1>Good morning, Michael, Good morning Nathan. The New York grand

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<v Speaker 1>Jerry weighing possible criminal charges against former President Trump heard

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<v Speaker 1>from an important witness. Former publisher of the National Inquirer

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<v Speaker 1>and a longtime friend of Donald Trump, David Pecker is

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<v Speaker 1>a key witness in the investigation into the hush money

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<v Speaker 1>payments Trump mate porn star Stormy Daniels. Surely before the

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<v Speaker 1>twenty sixteen election, Daniels had attempted to sell her story

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<v Speaker 1>about having an affair with Trump to The Inquirer instead

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<v Speaker 1>of buying it Pecker directed her to then Trump lawyer

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<v Speaker 1>Mike Cohen, who arranged the payoff at the heart of

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<v Speaker 1>the case. The police department in Patterson, New Jersey, is

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<v Speaker 1>getting taken over by the state after several controversies. State

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<v Speaker 1>Attorney General Matt Platkin says there's a crisis of confidence

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<v Speaker 1>in Patterson. This is the State of New Jersey coming

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<v Speaker 1>in to provide the support that this community needs, to

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<v Speaker 1>provide the resources that this community needs. Earlier this month,

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<v Speaker 1>anti violence activist Naji Seabrooks was fatally shot by Patterson

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<v Speaker 1>police during a mental health crisis. North Korean leader Kim

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<v Speaker 1>John Un has called for his nuclear scientists to increase

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<v Speaker 1>production of weapons grade material to make bombs to put

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<v Speaker 1>on his increasing range of weapons. North Korea's weapons test

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<v Speaker 1>and US South Korea military exercises have intensified in a

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<v Speaker 1>tit for tat cycle. Russia's Defense ministry says Moscow successfully

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<v Speaker 1>test fired missiles in the Sea of Japan. The ministry

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<v Speaker 1>set today that two boats launched a simulated missile attack

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<v Speaker 1>on a mock enemy warship about six miles away. The

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<v Speaker 1>Mosket Cruise missile is a supersonic anti ship cruise missile

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<v Speaker 1>that has a conventional and nuclear warhead capacity. The Red

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<v Speaker 1>Cross says storm recovery in Mississippi is going to take years.

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<v Speaker 1>More than twenty people were killed and buildings were destroyed,

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<v Speaker 1>especially in the hard hit town of Rolling Fork. Old

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<v Speaker 1>Ridge Walker is Rolling Forks mayor and also the funeral director.

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<v Speaker 1>We got families that are living in with family members

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<v Speaker 1>who live outside of town. We got groups who are

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<v Speaker 1>living in hotels, so they're just staying in place until

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<v Speaker 1>they can get back home. At least fifteen tornadoes hit

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<v Speaker 1>across the South since Friday. Global News twenty four hours

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<v Speaker 1>a day, powered by more than twenty seven hundred journalists

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<v Speaker 1>an analysts in over one hundred twenty countries. I'm Michael Bard.

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<v Speaker 1>This is Bloomberg Nathan. Thanks Michael tim Out of the

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<v Speaker 1>Bloomberg Sports Update. For that, we bring in John Stash Howard, John,

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<v Speaker 1>Good morning. Nathan Nixon. Rockets at the Garden Houston, second

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<v Speaker 1>worst record in the NBA. So the Knicks did not

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<v Speaker 1>need Jalen Brunson, he sat out with an injured hand.

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<v Speaker 1>They also didn't need them because they had Emmanuel Quickly,

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<v Speaker 1>who in thirty minutes scored forty points. Added nine assists

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<v Speaker 1>Knicks over the Rockets one thirty seven, one fifteen. They'll

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<v Speaker 1>host Miami tomorrow at the UBS Arena. Islanders got a

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<v Speaker 1>pair of goals from the former Devil Kyle Palmary, beat

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<v Speaker 1>New Jersey five to one. The Rangers sit between the

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<v Speaker 1>two teams, but with six wins the last seven games,

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<v Speaker 1>the Rangers have moved within four points to the Devils.

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<v Speaker 1>As the Rangers played Columbus tonight at the Guarden, NCUBA

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<v Speaker 1>women's tourney has gone much more according to form than

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<v Speaker 1>the men. Top seed South Carolina and Virginia Tech both won.

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<v Speaker 1>They'll join LSU and IOA the final fourth. South Carolina

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<v Speaker 1>is thirty six, and oh Texas named Rodney Terry men's coach.

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<v Speaker 1>He had been the interim coach. Yankees' final exhibition game

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<v Speaker 1>is today. Mets have already wrapped up their great fruitlely

0:09:53.240 --> 0:09:56.560
<v Speaker 1>they're staying in Florida to open the season Thursday in Miami.

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<v Speaker 1>NFL owners are meeting in Arizona's A. Giants owner John Marra,

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<v Speaker 1>having locked up Daniel Jones long term, was asked about

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<v Speaker 1>sae Quon Barkley, and Mara said he wants Barkley to

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<v Speaker 1>be a Giant his entire career. As things stand now,

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<v Speaker 1>he's playing on the franchise Tack Jets GM. Joe Douglas

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<v Speaker 1>asked where things stand with the Jets acquiring Aaron Rodgers

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<v Speaker 1>from Green Bay. There's been some some productive conversations, and

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<v Speaker 1>you know, obviously we're now where we need to be yet,

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<v Speaker 1>and but I feel like we're in a good place.

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<v Speaker 1>Douglas added. There's not a ton of urgency as there's

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<v Speaker 1>no hard deadline of Jets coach Robert Sali said he's

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<v Speaker 1>confident Rogers will end up a jet did he dash down?

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<v Speaker 1>Bloomberg Sports Live from coast to coast, from New York

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<v Speaker 1>to San Francisco, Boston to Washington, d C. Nationwide on

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<v Speaker 1>Sirius XAM, the Bloomberg Business app, and Bloomberg dot Com.

0:10:49.480 --> 0:10:54.160
<v Speaker 1>This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Yet

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<v Speaker 1>another mass shooting in this country is leading to yet

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<v Speaker 1>more calls for action from the White House. The latest

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<v Speaker 1>scene of tragedy as a private Christian school in Nashville, Tennessee.

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<v Speaker 1>President Biden says it is the latest sign of the

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<v Speaker 1>danger from easy access to guns. A shooter in this

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<v Speaker 1>situation reporter, we had two assault weapons in a pistol

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<v Speaker 1>to a Katy seven. So I call on Congress again

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<v Speaker 1>to pass my assault weapons ban. It's about time that

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<v Speaker 1>we began to make some more progress. When that was

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<v Speaker 1>President Biden at the White House yesterday following the shooting

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<v Speaker 1>at the Covenants School in Nashville. This morning, we're joined

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<v Speaker 1>live by Greg Valier, chief US policy strategist at AGF Investments. Greg,

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<v Speaker 1>good morning. You can almost hear the resignation in President

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<v Speaker 1>Biden's voices. He makes that call once again for action

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<v Speaker 1>on assault weapons. Where does the debate stand in Washington

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<v Speaker 1>when it comes to gun policy in this country? Well,

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<v Speaker 1>I wish I could tell you, Nathan that things are

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<v Speaker 1>looking more upbeat to get some serious gun legislation, but

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<v Speaker 1>they're not. I don't see happening. I think the House is,

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<v Speaker 1>as you know, more conservative with Kevin McCarthy as the speaker.

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<v Speaker 1>I don't see the House agreeing to anything on gun.

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<v Speaker 1>So once again, a horrible incident in a lot of

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<v Speaker 1>hot air, but no real action. I know we've seen

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<v Speaker 1>mass shootings at elementary schools before, obviously the Sandy Hook shooting,

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<v Speaker 1>and now this time at a religious school. In Nashville, Tennessee.

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<v Speaker 1>I wonder whether it makes a difference the setting of

0:12:29.600 --> 0:12:33.720
<v Speaker 1>these types of tragedies where they occur, and whether that

0:12:33.800 --> 0:12:37.320
<v Speaker 1>could shift the debate in some way. I don't think so.

0:12:37.480 --> 0:12:39.439
<v Speaker 1>I mean, there's been you know, the Sandy Hook was

0:12:39.520 --> 0:12:42.880
<v Speaker 1>New England. We had a horrible massacre in Texas a

0:12:42.960 --> 0:12:46.360
<v Speaker 1>year or so ago. It seems to be endemic across

0:12:46.400 --> 0:12:50.160
<v Speaker 1>the country. And I just don't see the votes there.

0:12:50.200 --> 0:12:55.080
<v Speaker 1>I mean, I'm basically follow economic legislation, and my mantra

0:12:55.280 --> 0:12:58.480
<v Speaker 1>is always do they have the votes? It applies here

0:12:58.520 --> 0:13:01.280
<v Speaker 1>as well. They don't have the votes for any meaningful

0:13:01.400 --> 0:13:04.920
<v Speaker 1>gun control. And it seems like we hear the same

0:13:05.720 --> 0:13:09.240
<v Speaker 1>lines of debate over and over again. When these types

0:13:09.280 --> 0:13:13.880
<v Speaker 1>of things happen. For Democrats, they call for more controls

0:13:14.000 --> 0:13:17.160
<v Speaker 1>on access to firearms. For Republicans, it seems as though

0:13:17.200 --> 0:13:20.480
<v Speaker 1>the debate centers around mental health, that sort of thing.

0:13:21.000 --> 0:13:24.280
<v Speaker 1>Why do you think it is that the positions on

0:13:24.320 --> 0:13:29.200
<v Speaker 1>this debate have become so entrenched. Well, it's the packs,

0:13:29.200 --> 0:13:35.120
<v Speaker 1>the political action committees that influenced so much legislation. It's

0:13:35.120 --> 0:13:38.000
<v Speaker 1>a fear I think the part of many members of

0:13:38.080 --> 0:13:41.080
<v Speaker 1>Congress that if they voted for tough gun control, they

0:13:41.080 --> 0:13:44.520
<v Speaker 1>would lose their next election, and sadly they would rather

0:13:44.520 --> 0:13:48.280
<v Speaker 1>win their next election than do anything. We did have

0:13:48.360 --> 0:13:53.200
<v Speaker 1>the Bipartisan Safer Communities Act past last year. President Biden

0:13:53.240 --> 0:13:56.679
<v Speaker 1>has signed executive orders since then as well. I mean,

0:13:56.800 --> 0:13:59.280
<v Speaker 1>is that as far as it goes at this point?

0:13:59.320 --> 0:14:04.520
<v Speaker 1>Greg Oh, I think so. It's a miracle we got that.

0:14:04.520 --> 0:14:08.200
<v Speaker 1>That was a tough fight, but getting anything more aggressive

0:14:08.720 --> 0:14:12.600
<v Speaker 1>right now, to me is quite unlikely. Well, what do

0:14:12.640 --> 0:14:15.760
<v Speaker 1>you think would have to change to move the debate

0:14:15.960 --> 0:14:18.760
<v Speaker 1>one way or the other? I mean, is there any

0:14:18.880 --> 0:14:25.200
<v Speaker 1>glimmer of light that could come forth from this? Not

0:14:25.240 --> 0:14:27.480
<v Speaker 1>that I can see. I mean, I suppose if there's

0:14:27.480 --> 0:14:32.080
<v Speaker 1>a real upsurge in gun violence that could even more

0:14:32.080 --> 0:14:35.240
<v Speaker 1>than we have now, that that could maybe sways some voters.

0:14:35.320 --> 0:14:38.080
<v Speaker 1>But I don't barring that, I don't think that the

0:14:38.160 --> 0:14:42.920
<v Speaker 1>voters in Congress are persuadable. Now we are waiting for

0:14:42.960 --> 0:14:46.960
<v Speaker 1>a President Biden to kick off something of a campaign

0:14:47.720 --> 0:14:52.120
<v Speaker 1>later today focused on his economic accomplishments. He's heading down

0:14:52.160 --> 0:14:56.960
<v Speaker 1>to North Carolina later on today. I wonder whether this

0:14:57.280 --> 0:15:01.400
<v Speaker 1>latest incident is going to overshadow this plan that the

0:15:01.480 --> 0:15:03.840
<v Speaker 1>President and his cabinet have over the next few weeks

0:15:03.840 --> 0:15:07.880
<v Speaker 1>to sort of blitz the country touting their economic accomplishments

0:15:07.920 --> 0:15:11.440
<v Speaker 1>ahead of what we're expecting to be a reelection announcement

0:15:11.480 --> 0:15:15.960
<v Speaker 1>from the President. Great. Yeah, I think Nathan, that we're

0:15:15.960 --> 0:15:18.120
<v Speaker 1>going to see the President go all out in the

0:15:18.160 --> 0:15:22.080
<v Speaker 1>next few weeks talking about his economic agenda. But at

0:15:22.120 --> 0:15:25.120
<v Speaker 1>the same time, there's going to be hearings on Capitol

0:15:25.200 --> 0:15:28.120
<v Speaker 1>Hill about how the Federal Reserve could be so lax

0:15:28.520 --> 0:15:32.040
<v Speaker 1>in their regulation and their supervision. So I think the

0:15:32.120 --> 0:15:37.080
<v Speaker 1>message from Biden will have some positive response, but you know,

0:15:37.240 --> 0:15:40.880
<v Speaker 1>there's still an awful lot that voters are concerned about,

0:15:40.960 --> 0:15:46.520
<v Speaker 1>starting with inflation. This is Bloomberg Daybreak Today, your morning

0:15:46.520 --> 0:15:49.160
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<v Speaker 1>I'm Nathan Hager and I'm Karen Moscow. Join us again

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