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Speaker 1: Welcome to the Bloomberg Law Podcast. I'm June Grosso. Every

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Speaker 1: day we bring you insight and analysis into the most

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Speaker 1: important legal news of the day. You can find more

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Speaker 1: episodes of the Bloomberg Law Podcast on Apple Podcasts, SoundCloud,

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Speaker 1: and on Bloomberg dot com slash podcasts. The battle between

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Speaker 1: President Donald Trump and the leaders of the FBI and

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Speaker 1: Justice Department is escalating, as Trump declassified the controversial House

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Speaker 1: Intelligence memo and accused them of misconduct. House Republicans released

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Speaker 1: the memo a little over half an hour ago. It

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Speaker 1: argues the agency's misled of surveillance or fis a court

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Speaker 1: in October to obtain a warrant a spy on an

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Speaker 1: associate of the Trump campaign suspected of being a Russian spy.

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Speaker 1: Representative Adam Schiff, the top Democrat on the House committee,

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Speaker 1: says the memo is misleading and inaccurate. We don't cherry

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Speaker 1: pick class flight information and publish it to give the

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Speaker 1: country misleading impression to protect the president's hide. Joining me

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Speaker 1: is Bradley Moss, a partner at Mark, said, So, Brad,

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Speaker 1: I have been looking through this memo. Tell me what

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Speaker 1: you thought of it. Egregiously underwhelmed. This is not this

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Speaker 1: is this is a nothing burger. You gotta be kidding me.

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Speaker 1: The whole scandal is that carter Page, who the campaign

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Speaker 1: has told us was no one, was a volunteer that

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Speaker 1: did nothing, had no involvement in anyone ever talked Trump.

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Speaker 1: That carter Page had had a fie a warrant issued

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Speaker 1: against him after he left the campaign in October twenty sixteen,

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Speaker 1: weeks before election day. And that part of the application,

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Speaker 1: and these five application sins are about fifty to a

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Speaker 1: hundred pages long. That part of the application was the

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Speaker 1: Steel dossier allegations. That's it. You gotta be kidding me. Well,

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Speaker 1: Paige was interviewed by the FBI as early as ten

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Speaker 1: as part of an investigation into a Russian spy ring,

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Speaker 1: and last December, White House attorney Don Began wrote him

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Speaker 1: to immediately see saying he's a Trump advisor. Why based

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Speaker 1: declassifying uh, you know, memos and classified information and this

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Speaker 1: whole thing on carter Page. Well, and it's because, as

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Speaker 1: far as I'm concerned, this whole move is a little

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Speaker 1: more than a political hit job by some in the

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Speaker 1: in Congress and in the media to effectively block and

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Speaker 1: tackle for the president here to try to muddy the waters,

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Speaker 1: to try to make the Mueller investigation look discredited from

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Speaker 1: this outset, because this was part of the early stages

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Speaker 1: to try to save the president politically. As a legal matter,

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Speaker 1: the idea that this have failed to meet the Fourth

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Speaker 1: Amendment constitutional requirements is a joke. There's no way this

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Speaker 1: would get the grown out. This was fine. This is

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Speaker 1: all about politics. Let's talk a little bit about the

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Speaker 1: FISA courts because people don't know about them. It's rare

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Speaker 1: for a FISA court to deny a warrant application, although

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Speaker 1: it may send back for more information before the warrant

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Speaker 1: is granted. So do you assume that the FBI was

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Speaker 1: going to get this warrant one way or another? Yeah,

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Speaker 1: yes I do. And here are something to actually add

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Speaker 1: to that. Not only will the judge sometimes send it

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Speaker 1: back for more information, there are times that the staff

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Speaker 1: at the FBI the d o J will coordinate in

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Speaker 1: advance with the staff at the fire at the FIST

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Speaker 1: the Foreign tell them surveillance court to discuss how to

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Speaker 1: frame the application so that it will meet the requirements

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Speaker 1: of what the judge will have to see. Those applications

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Speaker 1: are very extensive. The people who put them together are

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Speaker 1: very senior level. They have to sign off on it.

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Speaker 1: They have a lot of experienced drafting them. They know

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Speaker 1: what the judges are going to require for something this sensitive,

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Speaker 1: in something this secret, Yeah, I need that. They just

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Speaker 1: through this together. Haphazard is something only spoken by people

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Speaker 1: who have no understanding FISA. Can the FBI release the

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Speaker 1: FISA application? Yes, yes, they absolutely could, in the sense

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Speaker 1: of they have the legal authority to do so. There's

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Speaker 1: nothing to stop them other than the President ordering them

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Speaker 1: not to do so. But as a simple legal matter, yes,

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Speaker 1: they can order it declassified and publish it. They alone

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Speaker 1: have that authority. Will they do that? My assumption is known.

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Speaker 1: Well what Christopher Ray, It's on the record. He tried

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Speaker 1: to get the President and just not declassify this. He

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Speaker 1: warned against against declassifying it and said there were grave

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Speaker 1: concerns about material omissions. FBI issued a uh, never heard

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Speaker 1: of statement before. What is his position now? What what

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Speaker 1: can he do? It becomes difficult for him, and he's

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Speaker 1: in a bit of a difficult spot here. He wasn't

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Speaker 1: there when this was all put together. He came in

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Speaker 1: after the fact. He's trying to reorganize and trying to

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Speaker 1: steady the ship at the FBI, which was in turmoil

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Speaker 1: after the Comy firing. So he's put in a difficult

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Speaker 1: position here. Does he take the principal moral high ground

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Speaker 1: to try to resign here to express disappointment with the

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Speaker 1: step of the president took, or is he try to

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Speaker 1: stay on and basically push this off as a one,

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Speaker 1: you know, staying on the record and try to restore

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Speaker 1: some manner of cooperation between the FBI and the White House. Now,

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Speaker 1: Representative Adam Schiff is predicting that Trump will used the

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Speaker 1: memo as a pretext to dismiss Special Counsel Robert Mueller's boss,

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Speaker 1: Deputy Attorney General Rod Rosenstein, because he is mentioned in

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Speaker 1: this memo. Tell us what he did? Yeah, correct, Rod

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Speaker 1: Rosenstein signed off as in his role of the deput

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Speaker 1: Attorney General. And I believe the last and most recent

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Speaker 1: by the application, and since that would have at least

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Speaker 1: in part come along from this entire original thread, relying

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Speaker 1: on the Steel doff the allegations in some form, that's

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Speaker 1: certainly going to anger the President personally, So he could,

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Speaker 1: in theory, the Deputytorney General could be is a political pointee.

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Speaker 1: The president could fire him right now. But if he does,

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Speaker 1: the Attorney General remains recused from the Russia investigation and

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Speaker 1: overseeing the Mueller investigation. The authority of that would now

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Speaker 1: fall to Rachel Brand, who would be the next in line.

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Speaker 1: Now do we what do we know about Rachel Brand?

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Speaker 1: Would she stand up as Rod rosen Stein has stood up?

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Speaker 1: It's it's hard to say. We don't know what I mean.

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Speaker 1: Rachel Brand is certainly a very qualified individual in the

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Speaker 1: spot she serves. She certainly has a lot of experience

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Speaker 1: in there, but it's not really known how she would

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Speaker 1: view her role here in whether or not she would

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Speaker 1: uh sort of take the principal line in the principal

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Speaker 1: mechanisms pathway that Mr Rosenstein has taken. My assumption is

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Speaker 1: that she would follow in that same path. I don't

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Speaker 1: see her as being by any means a Trump acolyte

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Speaker 1: or loyalist, but you just don't know. Well, it's a

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Speaker 1: very tough position to be in. Now. If Rod Rosenstein

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Speaker 1: is fired, does that give more ammunition to Mueller's obstruction investigation?

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Speaker 1: It would? It would, It would in the circumstantial context

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Speaker 1: of corrupt intent, each time the president does one of

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Speaker 1: these various things that he might have the legal authority

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Speaker 1: to do, it nonetheless shows the indication of his personal mindset,

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Speaker 1: his intent, his bias in terms of how he used

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Speaker 1: this investigation. So if there are other actions, and we

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Speaker 1: know of a lot of what's going on, but there's

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Speaker 1: other actions that in their totality reflect the concept of obstruction.

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Speaker 1: These otherwise legal things that the president does, like says,

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Speaker 1: firing Rob Rosenstein, could service circumstantial evidence for corrupt intent,

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Speaker 1: which is a requirement for obstruction in about thirty seconds, Brad,

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Speaker 1: come Monday, after this has been talked about and talked

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Speaker 1: about on and every new show. What do you expect

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Speaker 1: will be the result? Will this be as you said,

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Speaker 1: nothing burger or will it be more added to it

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Speaker 1: by the Democrats. I think there's gonna be a lot.

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Speaker 1: It's gonna be certainly a lot of political. Hey, the

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Speaker 1: question is will the Democratic counter memo come out rather soon?

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Speaker 1: I understand Speaker Ryan is spoken in favor of being released.

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Speaker 1: Of course, the president still has to be classify that

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Speaker 1: um or also the House would have to vote to

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Speaker 1: override the president's objection. We have no idea how the

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Speaker 1: White House would come down on that front. And we

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Speaker 1: don't know what the FBI will do. They're allegedly going

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Speaker 1: to submit a public rebuttal. We have no idea what

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Speaker 1: that will consist of and how much they provide in

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Speaker 1: terms of details for that. All right, it's pretty much

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Speaker 1: where we stand. Thank you, brad More to come. That's

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Speaker 1: Bradley Moss a part of it it. Mark Sade, are you

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Speaker 1: betting on Sunday Super Bowl game? Maybe you're in an

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Speaker 1: office pool and your name is in a box tied

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Speaker 1: to the score. It's not really gambling, is it? And

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Speaker 1: soon it may not matter. The Supreme Court Justice and

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Speaker 1: suggested they may strike down the federal law that bars

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Speaker 1: sports betting. In the meantime, there's wind View, which is

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Speaker 1: pushing the boundaries further than the daily fantasy industry. Bloomberg

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Speaker 1: News sports business reporter Evan nov Williams joins me, thanks

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Speaker 1: so much for being here, Evan, on this very important

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Speaker 1: day for you, the before the Super Bowl. Um, what this?

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Speaker 1: What is this app? Yeah? So win View has been

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Speaker 1: around for a while. What they're doing now for the

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Speaker 1: first time in January, and the Super Bowl is one

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Speaker 1: of their first is they're offering cash games, and what

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Speaker 1: it is is betters out there would know them as

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Speaker 1: prop bets. Uh, they proposed questions to you say, well,

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Speaker 1: the Patriots have three first downs on this drive, Well

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Speaker 1: the Eagles have a sack? Will there be a turnover?

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Speaker 1: And you answer them yes or no? Um, and the

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Speaker 1: when in your success and answering those questions put you

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Speaker 1: in a pool against others and you can win money

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Speaker 1: based on being good at predicting whether certain things are

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Speaker 1: going to happen in the game. Have you tried it?

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Speaker 1: I asked it because I wanted to know how how

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Speaker 1: hard it is? Not? Yeah, no, I've I've played the

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Speaker 1: free games before. Um, they're fun. I mean it's the

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Speaker 1: way it's built is it's to be a second screen.

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Speaker 1: You know, as you're watching the game, what's going to

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Speaker 1: keep you interested? Oh? This might keep you interested, really

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Speaker 1: rooting for that pick you made, that the last play

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Speaker 1: of the third quarter is going to be a running

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Speaker 1: play and other passing play, things like that. So how

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Speaker 1: is is this we view getting ready for what legal

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Speaker 1: experts say, maybe a spring decision that will legalize Yeah,

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Speaker 1: it's funny. There's gonna be four point four point six

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Speaker 1: billion dollars wagered on the Super Bowl this year in America,

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Speaker 1: and and and four point four billion of that so

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Speaker 1: over that happens illegally, just by virtue of the way

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Speaker 1: that the US laws are and this could probably gonna

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Speaker 1: be possibly going to be the last Super Bowl where

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Speaker 1: your average American can't legally place a bet nearby or online.

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Speaker 1: Um and for that reason, apps like win View, apps

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Speaker 1: like the Daily Fantasy, folks like Draft Kings and FanDuel,

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Speaker 1: they're kind of pushing the envelopes of what's legal. You know,

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Speaker 1: there was a gray area that Daily Fantasy kind of

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Speaker 1: carved its way out of. Win View is using that

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Speaker 1: same kind of carve out that game of skill carve out.

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Speaker 1: They're they're pushing the boundaries. And one of the reasons

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Speaker 1: they're doing that is that they want to know who

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Speaker 1: the Americans are out there that are most likely to

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Speaker 1: jump on this industry once it becomes legalized. And if

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Speaker 1: your customer win View or Draft Kings, for example, they're

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Speaker 1: banking on if they can offer sports gambling in the future,

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Speaker 1: you'll probably be a customer for that too. And is

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Speaker 1: anyone really investigating them anymore? I mean, you know, years

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Speaker 1: ago the A g s were investigating them. But now

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Speaker 1: that we have the Supreme Court UH decision in the

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Speaker 1: off thing, are they being investigating DraftKings and Fandoel have

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Speaker 1: have spent a long time in the past, there a

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Speaker 1: lot of money in the past couple of years on

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Speaker 1: lobbying UH specific state sentence to get their games explicitly legalized.

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Speaker 1: So instead of being a carve out or kind of

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Speaker 1: a loophole and a law to have explicit daily fantasy

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Speaker 1: is legal bills and they've they've passed those in in

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Speaker 1: more than a dozen states at this point. They're still

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Speaker 1: working on that. UM. I don't think anybody thinks that

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Speaker 1: the Supreme Court thing is going to be a panacea.

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Speaker 1: It's going to be a way tangled web of individual

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Speaker 1: states that want to do it this way versus that way,

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Speaker 1: want to tax five, want to tax ten percent. The

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Speaker 1: federal government could and possibly will at some point get

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Speaker 1: involved as well. No one really knows how this is

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Speaker 1: going to pan out, So they are still going the

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Speaker 1: legalization route on their end. UM. But there's no question

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Speaker 1: that change is coming UH, and that's because almost all

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Speaker 1: the stakeholders want to you know, casinos have been arguing

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Speaker 1: for this for a while, but we're seeing leagues now.

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Speaker 1: The NBA has been probably the most active in saying, hey,

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Speaker 1: we're ready for this, we want it to happen, we

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Speaker 1: want it to happen in a specific way. But there's

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Speaker 1: a ton of profit for the NFL, for the NBA,

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Speaker 1: for baseball, for hockey, for soccer in this happening. Uh

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Speaker 1: So they're kind of all aline now and also in

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Speaker 1: getting their ratings up, especially for the absolutely. Yeah. I mean,

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Speaker 1: if you look at the struggles, the NFL is struggling

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Speaker 1: ratings wise, and yet their Thursday Night package. Fox just

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Speaker 1: agreed to pay more than anyone ever has for the

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Speaker 1: Thursday Night package. And you know, it's not hard to

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Speaker 1: connect the dots to that, you know, And it's a

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Speaker 1: five year deal, and by the end of that deal,

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Speaker 1: Americans will be gambling legally on on football nationwide and

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Speaker 1: that will lead to probably better ratings and more interest

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Speaker 1: in the games, whether it's the Patriots first, the Eagles,

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Speaker 1: or if it's you know, the Jacksonville Jaguars versus the

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Speaker 1: Minnesota Vikings Jacksonville jaguarths. I'm not sure, but is anyone

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Speaker 1: betting on the on the on the Eagles, Yeah, there are.

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Speaker 1: It's funny. The So the Patriots are three and a

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Speaker 1: half point favorite right now, four point favorite, depending on

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Speaker 1: on where you where you look in Vegas. But a

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Speaker 1: lot of the biggest bets are coming in on the Eagles.

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Speaker 1: You know, people that are betting high hundred thousand dollar

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Speaker 1: bets to win over a million dollars if the Eagles

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Speaker 1: do win, so they have money to lose them. So yeah, so,

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Speaker 1: I mean they're trying to balance the books, and the

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Speaker 1: majority of the bets I think are on the Patriots,

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Speaker 1: just because if you're an average NFL fan, you think,

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Speaker 1: oh my, the Patriots always win, so they're gonna win again.

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Speaker 1: But there are definitely some sharp betters out there that

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Speaker 1: are that are favoring the Eagles. So about thirty seconds here,

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Speaker 1: what does this win view have on tap for the

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Speaker 1: Super Bowl? Yeah, sure, so they're doing it. They have

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Speaker 1: a twenty five thousand dollar promo. If you answer all

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Speaker 1: the questions right in a single quarter, which is around

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Speaker 1: twenty questions or so, you can win. That sounds, I think,

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Speaker 1: a lot easier than it actually is. The odds on

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Speaker 1: that are are very slim, but that's just kind of

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Speaker 1: one of those promotions that are geared at geared to

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Speaker 1: getting more people onto their platform, and they're betting that

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Speaker 1: once you try it, whether you're winning or you're winning

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Speaker 1: two dollars or maybe you're losing a little bit of money,

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Speaker 1: that you'll keep coming back and playing. It sounds like

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Speaker 1: an interesting idea in a way to do something besides

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Speaker 1: candy crush during the game. Thank you so much, Evan.

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Speaker 1: That's Bloomberg News sports business reporter Evan Nobi Williams. Thanks

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Speaker 1: for listening to the Bloomberg Law Podcast. You can subscribe

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Speaker 1: and listen to the show on Apple podcast, SoundCloud, and

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Speaker 1: on Bloomberg dot com slash podcast. I'm June Brolso this

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Speaker 1: is Bloomberg. Yeah,