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Speaker 1: Why from our nations this budget thing is going to

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Speaker 1: do nothing spaceports. I still think it's interesting President Trump

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Speaker 1: not playing his cards yet. Headlines Policy and politics colliding

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Speaker 1: sound on with Kevin's related the insiders, the influencers, the insides.

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Speaker 1: I would rather see a congressional solution. It's part of

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Speaker 1: my DNA. The Senate map in looks a lot different

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Speaker 1: than it looked in. You really have a divide within

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Speaker 1: Team Trump. The president has to do exactly what people

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Speaker 1: send him here to do, which is to get it done.

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Speaker 1: He's sound on with Kevin's. He related on Bloomberg one

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Speaker 1: two bottom are high political drama on Capitol Hill. The

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Speaker 1: Services Committee. I'll bring you my exclusive interview with House

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Speaker 1: Financial Services Committee Chairwoman Maxine Waters, the Democrat from California, says,

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Speaker 1: get ready for a quote unquote new day. Plus the

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Speaker 1: Fed minutes revealing that they that there are some flexibility

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Speaker 1: special guest with us in studio, Brian Hook. He is

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Speaker 1: a senior advisor to Secretary of State Mike Pompeo. He

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Speaker 1: what it means for the US withdrawal from the Iran

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Speaker 1: nuclear disarmament deal. I want to get to that exclusive interview,

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Speaker 1: but first let's get caught up to speed on what

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Speaker 1: we missed today from Nancy Lyons. Nancy, thanks Kevin. As

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Speaker 1: you mentioned, chief executives of the bank sometimes dubbed too

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Speaker 1: big to fail, defended their bigness today before the House

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Speaker 1: Financial Services Committee. Bloomberg ser of Chapman was there. The

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Speaker 1: bankers cited international competitiveness. Jamie Diamond of Jake B. Morgan

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Speaker 1: Chase JP. Morgan moves actually six trillion dollars around the

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Speaker 1: other large banks not based in the the United States from America.

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Speaker 1: James Garment of Morgan Stanley. We are responsible for about

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Speaker 1: me one of all equities trading around the world. Effective

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Speaker 1: markets depend upon institutions like us being able to make markets.

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Speaker 1: If we're not doing it, they'd be huge. The banker's

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Speaker 1: urgent regulations to be harmonized. The level of playing field

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Speaker 1: with big foreign banks on Capitol Hill or of Chapman

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Speaker 1: Bloomberg Radio. Attorney General William Barr was back on Capitol

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Speaker 1: Hill for a second day today, being grilled by lawmakers

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Speaker 1: about the Mueller findings. Congress is still waiting to see

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Speaker 1: the full Muller report. Democratic Senator Chris Coons of Delaware

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Speaker 1: says Bar dodged questions about how much of the report

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Speaker 1: the White House has seen. I think it's really striking

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Speaker 1: that Attorney General Barr had yet another opportunity to stay clearly,

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Speaker 1: I did not share this report with the White House.

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Speaker 1: to do so. Barr did tell lawmakers he does not

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Speaker 1: know if Robert Muller supported his conclusion that the Special

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Speaker 1: Council's report had insufficient and evidence to establish President Trump

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Speaker 1: obstructed justice. May Land Governor Larry Hogan's planned to toll

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Speaker 1: and widen the Beltway into seventy has dodged a potentially

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Speaker 1: long delay. Bloomberg's Martin Decarro with that story. Maryland Transportation

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Speaker 1: Secretary Pete Ron convinced state lawmakers to drop legislation that

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Speaker 1: We have to do something about traffic congestion, but opponents

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Speaker 1: say the state's moving too fast to get these massive

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Speaker 1: more public transit. Transit by itself cannot resolve this choking congestion.

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Speaker 1: Ron intends to solicit proposals from private road building companies

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Speaker 1: this spring before the necessary environmental studies are finished. Martin

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Speaker 1: Decarro Bloomberg one oh five point seven h D two

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Speaker 1: and unidentified gambler in Nevada is betting eighty five thousand

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Speaker 1: dollars on Tiger Woods to win the Masters, a wager

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Speaker 1: that would pay out one point two million if the

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Speaker 1: one time golf superstar takes his fifth green jacket this weekend.

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Speaker 1: The bed at four team to one odds represents the

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Speaker 1: largest liability for a single golf ticket and William Hill's

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Speaker 1: seven year history taking wagers in the US. You can,

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Speaker 1: by the way, catch full Masters coverage starting tomorrow right

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Speaker 1: here on Bloomberg. Whil'st time now for the Beltway. Business

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Speaker 1: report for that would go to Bloomberg's Larry Kovski Well Nancy.

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Speaker 1: Minutes from last month's Federal Reserve Policy meeting contained no

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Speaker 1: surprises for Wall Street, confirming the Fed's debbish policy tilled

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Speaker 1: a narrowly higher day on Wall Street that now Jones

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Speaker 1: Industrial Average added six, the SMP five hundred rows ten,

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Speaker 1: and as that composite gained fifty four. Turnaround efforts are

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Speaker 1: starting to pay off. At bed Bath and beyond. The

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Speaker 1: homegoods retailer offered a better than expected outlook, but there's

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Speaker 1: more to be done. Same store sales for its latest

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Speaker 1: quarter fell more than forecast, even his earnings beat estimates.

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Speaker 1: The tales have begun to emerge about what made the

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Speaker 1: look at detailed information about Uber as soon as tomorrow.

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Speaker 1: The sources Uber is seeking to raise about ten billion

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Speaker 1: dollars with its I p O. The Bloomberg on Washington,

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Speaker 1: d C Area stock index gained a tenth of a

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Speaker 1: percent Europe to date. On business from the Beltway to Baltimore.

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Speaker 1: I'm Larry Kowsky. This is Bloomberg one oh five point

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Speaker 1: seven f M H D two thanks Larry. Global News

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Speaker 1: twenty four hours a day on air and at TikTok

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Speaker 1: on Twitter, powered by more than twenty journalists and analyst

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Speaker 1: and more than a hundred and twenty countries. I'm Nancy Lions.

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Speaker 1: Now back to you, Kevin. Thank you, Nancy. It was

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Speaker 1: a remarkable day in the Rayburn House building. We're gonna

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Speaker 1: have much more reporting from the House Financial Services Committee,

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Speaker 1: from where House Financial Services Committee Chairwoman Maxine Waters convened

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Speaker 1: the largest bank CEOs, Jamie Diamond, David Solomon, all of them,

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Speaker 1: and for hours, hours were grilled one after the other. Uh,

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Speaker 1: the largest gathering of banks ceo since the Great Recession.

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Speaker 1: But what will come out of it? Not much if

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Speaker 1: you ask Republicans. But I'll bring you the latest on that.

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Speaker 1: But we are joined now by a very special guest

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Speaker 1: Brian Hook is with me in studio. We just got

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Speaker 1: off of Bloomberg Television and I'm thrilled to have him

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Speaker 1: advisor to Secretary of State Mike Pompeo and truly the

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Speaker 1: architect in the administration of US Iran policy. He's a

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Speaker 1: special representative for Iran UH and there was remarkable foreign

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Speaker 1: policy news blank and you'll miss it, especially with this

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Speaker 1: news flow earlier this week, because on Monday, UH the

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Speaker 1: US designated the Revolutionary Guards Courts, which is a military

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Speaker 1: that the administration, any administration, has taken a step like this.

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Speaker 1: Explain to me precisely how this decision came about and

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Speaker 1: what exactly it means. This is the first Sorry about that.

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Speaker 1: Your mic was off. Now you're on sound on. Yeah,

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Speaker 1: you're right, Kevin. This this is the first time that

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Speaker 1: the United States has designated part of another government as

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Speaker 1: a foreign terrorist organization. And the decision that Secretary Pompeio

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Speaker 1: made really underlines that the Iranian regime's use of terrorism

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Speaker 1: makes it fundamentally different from any other government. They use

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Speaker 1: terrorism as a tool of their foreign policy. It's an

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Speaker 1: essential element of what they do. So when we hear

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Speaker 1: about instability in the Middle East, typically Iran's Revolutionary Guard

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Speaker 1: Corps and its CUDS force are a or the principal

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Speaker 1: driver mind the terrorism. So with this particular step, in

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Speaker 1: addition to the US withdrawal from the j c p

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Speaker 1: on what what is the U s signaling to Iran?

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Speaker 1: The we are trying to deny the Iranian regime the

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Speaker 1: revenue that it needs to sustain its destabilizing foreign policy.

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Speaker 1: And that's where I want to take the conversation. But

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Speaker 1: because by labeling this terrorist organization, you're essentially saying you

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Speaker 1: can't do business with these folks. Yes, and the Revolutionary

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Speaker 1: Guard Corps controls up to half of Iran's economy and

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Speaker 1: half of the economy up to half, there's various estimates,

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Speaker 1: but the regime has put in place this Revolutionary Guard

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Speaker 1: core which is active across most sectors of the Iranian economy.

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Speaker 1: So when foreign direct investors do business in Iran, they

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Speaker 1: don't know whether they're facilitating commerce or terrorism. And it's

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Speaker 1: very often the case that a lot of the money

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Speaker 1: supporting Hamas. And we're trying to get at that revenue.

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Speaker 1: During the Iran nuclear deal, we suspended our oil sanctions

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Speaker 1: on Iran. We also suspended our banking sanctions. Getting out

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Speaker 1: of the deal has given US enormous economic and diplomatic

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Speaker 1: leverage to deter Iran's threats to peace and security. Brian

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Speaker 1: Hook is my guest with me in studio. He is

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Speaker 1: to Secretary of State Mike Pompeo. What's the ultimate end

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Speaker 1: goal with Iran? You write about this in your New

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Speaker 1: York Times op ed. I was reading it over the

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Speaker 1: the ultimate long term US goal for Iran, especially now

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Speaker 1: that we've withdrawn from the j c p o A.

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Speaker 1: We want the Iranian regime to behave more like a

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Speaker 1: the last revolutionary regime on earth, and the Revolutionary Guard

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Speaker 1: Corps is the instrument that it uses to export revolution.

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Speaker 1: For example, has Lebanese Hezbollah se of Hasbollah's budget comes

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Speaker 1: And you go around the region in Yemen where we

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Speaker 1: have a humanitarian catastrophe, the Hoothies have received hundreds of

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Speaker 1: millions of dollars from the Iranians to sustain their war

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Speaker 1: fighting effort against Saudi and the Emirates. So we are

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Speaker 1: trying to get Iran to pull back to its own borders.

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Speaker 1: And if we were to imagine in Iran that invested

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Speaker 1: in this adventurism around the Middle East, the Middle East

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Speaker 1: would look a lot more peaceful and a lot more stable.

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Speaker 1: And that's our goal. So I find this interesting, Bryan Hook,

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Speaker 1: State Mike Pompeo. Because it really is, especially in a

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Speaker 1: globalized economy, it's about stopping the access to capital from

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Speaker 1: the administration how do you, Brian Hook, how do you

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Speaker 1: strike that balance with adding sanctions against Iran but also

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Speaker 1: you know, not hurting US partners and US employers. It's true, Kevin,

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Speaker 1: You is a really good question. The regime's revenue comes

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Speaker 1: from oil exports, and a lot of those exporters are

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Speaker 1: around Asia, countries like China, India, Korea, Japan, Turkey, a

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Speaker 1: whole range of countries. We have taken over twenty countries

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Speaker 1: that used to be importing Irani and crewde to zero.

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Speaker 1: At the same time, we have avoided volatility in the

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Speaker 1: oil markets, and the President's direction last year when we

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Speaker 1: reimposed our oil sanctions was to impose as much economic

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Speaker 1: pressure as you can, but don't lift the price of oil. Now.

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Speaker 1: We had to do that at a time when we

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Speaker 1: a much better position to accelerate our goal of zero

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Speaker 1: imports of Iranian crude um. But so far we've been

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Speaker 1: able to successfully balance our national security objectives and our

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Speaker 1: economic interests. All coming up, Brian Hook stays, We've got

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Speaker 1: much more to talk about, especially in terms of where

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Speaker 1: ultimately US policy goes from here. And also there's this

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Speaker 1: Platz report I want to get your your take on

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Speaker 1: as well. Brian Hook stays he's the special representative for Iran,

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Speaker 1: the go to guy in President Trump's administration dictating and

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Speaker 1: crafting Middle East policy. Senior policy advisor to Secretary of

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Speaker 1: State Mike Pompeo. I'm Kevin SURRELLI you're listening to bloom Burge.

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Speaker 1: You're listening to Sound On with Kevin Surreally on Bloomberg

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Speaker 1: one and one oh five point seven F M h

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Speaker 1: D two, Baltimore. Welcome back. I'm Kevin Cirelli, Bloomberg News

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Speaker 1: Chief Washington correspondent for Bloomberg Television and Bloomberg Radio. We

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Speaker 1: are joined by a very special guest, Brian Hook. He

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Speaker 1: is the special representative for Iran and the senior policy

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Speaker 1: advisor to Secretary of State Mike Pompeo. We're talking about

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Speaker 1: Iran policy because there was this major development and we're

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Speaker 1: grateful to be able to dive into the policy specifics

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Speaker 1: of this. On Monday, the US and President Trump's administration

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Speaker 1: designated Iran's Relative Revolutionary Guard SCORE a terrorist organization. It's

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Speaker 1: really the first time it happened. And before we we

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Speaker 1: we went to break, we were talking about how to

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Speaker 1: to find that balance of adding sanctions on a rigion

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Speaker 1: geame like Iran, but also not disrupting global oil markets.

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Speaker 1: And so I'm curious whether or not, in particular the

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Speaker 1: US you think Brian is going to continue to grant

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Speaker 1: waivers that allow limited cooperation with Iran on nuclear issues.

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Speaker 1: The current policy administration is that we we certainly aren't

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Speaker 1: looking to grant any exceptions or waivers because when we do,

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Speaker 1: it weakens the impact of our campaign of maximum economic pressure.

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Speaker 1: And we've been able to take many billions of dollars

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Speaker 1: um we've denied it on a lot of revenue, not

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Speaker 1: only on the oil side, but on the banking side

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Speaker 1: and then other sectors. So we've been very successful and

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Speaker 1: very happy with Like the leader of Hezbollah, Hassan Azrala, recently,

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Speaker 1: for the first time in its history, had to make

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Speaker 1: a public appeal for donations because Iran is not able

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Speaker 1: to fund them at the historic level they've become accustomed to.

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Speaker 1: And that's because partly because of our sanctions and partly

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Speaker 1: because as the Iranian regime is a kleptocracy and it

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Speaker 1: mismanages its own economy. So we've been happy with with

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Speaker 1: the success we've had to date. There is a lot

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Speaker 1: more to come. We just did the i r g

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Speaker 1: C last week that is going to make those sectors

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Speaker 1: of the Iranian economy that are controlled or influenced by

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Speaker 1: the IRGC radioactive. It sounds like the door is shut,

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Speaker 1: but there's a crack open in terms of a waiver. Now,

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Speaker 1: I'm not going to preview the Secretary's uh may second

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Speaker 1: is when the the current set of waivers expire. And

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Speaker 1: and as I said, in the last year we had

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Speaker 1: we had a pretty tough oil market. This year, we

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Speaker 1: think things look a little bit better. Um. But there

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Speaker 1: I just want to mention you mention before we went

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Speaker 1: to the break that there was a plot story that

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Speaker 1: was out um, and I just we were a little

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Speaker 1: bit surprised to see that. We think those numbers are misleading. Um.

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Speaker 1: We have as I said earlier, there are over twenty

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Speaker 1: country over twenty countries who used to be importing Iranian

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Speaker 1: crewed that are now at zero. And Platts was reporting

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Speaker 1: that Iran is at pre sanctions levels. Iran used to

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Speaker 1: be at around two point seven. Um. We have taken

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Speaker 1: off one and a half million barrels just within the

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Speaker 1: last eleven months. I can't remember exactly the date, but

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Speaker 1: we've taken off a lot of oil. I think Platts

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Speaker 1: is counting cargoes that aren't going to buyers. And what

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Speaker 1: we see is those countries that have s R s

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Speaker 1: are importing at the negotiated levels of imports of Irani

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Speaker 1: and crude, and we're very happy with the kind of

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Speaker 1: I'll give you an example the impact we're having. The

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Speaker 1: i m F today, I think it was today or

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Speaker 1: yesterday revised its global forecast and has Iran's economy UM

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Speaker 1: at negative five or higher. And so Iran is very

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Speaker 1: clear in a recession now. And as I said, part

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Speaker 1: of that is because they mismanaged their economy, and part

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Speaker 1: of it's because of our sanctions are having an impact.

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Speaker 1: Brian Hook is the Special representative for Iran and a

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Speaker 1: senior policy advisor to Secretary of State Mike Pompeo. He's

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Speaker 1: with us here in studio. The President has spoken of

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Speaker 1: quote unquote maximum economic pressure campaign against Iran in terms

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Speaker 1: of if you are in your car driving home from work, UH,

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Speaker 1: and you're trying to figure out what the ultimate end

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Speaker 1: goal for for President Trump is. Is it to ultimately

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Speaker 1: in several years get Iran back to a nuclear disarmament deal.

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Speaker 1: Is it to work with the U N, is it

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Speaker 1: to go what is Obviously we were talking about this earlier.

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Speaker 1: Obviously President Trump and the U S would like to

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Speaker 1: see a nuclear disarmed Iran and for them to stop

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Speaker 1: doing missile testing and stop with with all of that.

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Speaker 1: But is the goal I think we sometimes lose sight

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Speaker 1: of the May second deadline and whatnot. Is the goal

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Speaker 1: of all of this to put so much pressure on

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Speaker 1: them that they have no choice but to get to

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Speaker 1: some type of a negotiation. Yes, Iran can either start

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Speaker 1: behaving like a normal nation or they can watch their

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Speaker 1: economy crumble. That's the choice that they face. You have

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Speaker 1: a national security cabinet, the president's national cabinet is committed

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Speaker 1: to this to this policy. In May of last year,

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Speaker 1: Secretary of State Pompeo gave a speech at the Heritage

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Speaker 1: Foundation where he laid out the twelve requirements for Iran

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Speaker 1: so that it starts looking more like a normal nation.

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Speaker 1: That continues to be our policy. Right now, we're denying

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Speaker 1: them the revenue they need to behave like an outlaw regime,

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Speaker 1: and that's going to continue. We would like to get

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Speaker 1: a new deal that replaces the Iran Nuclear Deal, that

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Speaker 1: covers the nuclear threats, the missile threats, and Iran's regional aggression,

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Speaker 1: and also the arbitrary detention of dual nationals, which includes Americans.

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Speaker 1: I would be totally remiss if I did not ask

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Speaker 1: you about your Hollywood background. It's my understanding, and I

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Speaker 1: can't believe that. Talk about a pivot. Tom Keene, if

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Speaker 1: you're listening, talk about a rough pivot. You were an

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Speaker 1: extra and Ferris Bueller's day Off in the in the

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Speaker 1: famous scene too, with the twist and shout scene. Yeah,

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Speaker 1: Kevin and I were talking about this before we went

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Speaker 1: on tv UM. Yeah. And when I was in high school,

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Speaker 1: I grew up in Bettendorf, Iowa, and I made a

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Speaker 1: trip to Chicago and happened to be walking downtown as

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Speaker 1: they were filming the parade float scene and Ferris Bueller's

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Speaker 1: Day Off, And so I ended up becoming an extra

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Speaker 1: on John Hugheses film when he's singing twist and shouts.

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Speaker 1: So that's got to be your favorite movie. Yeah, I

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Speaker 1: think my place in history is secure. I'm gonna leave

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Speaker 1: it there. Brian Hoke, special representative for Iran and Senior

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Speaker 1: policy advisor to Secretary of State Mike FROMPEO, thank you

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Speaker 1: for hanging out with us on Bloomberg Television and Bloomberg Radio.

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Speaker 1: You can check out his op ed in the New

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Speaker 1: York Times articulating the U S policy for Iran, and

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Speaker 1: of course all of the Administration's positions on US Iran policy.

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Speaker 1: Our thanks to Brian. You can download the sound On

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Speaker 1: podcast after the show on Apple iTunes, at Bloomberg dot com,

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Speaker 1: or by downloading the Bloomberg Business app. Check us out

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Speaker 1: on Radio dot com, I Heart Radio and Spotify. I'm

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Speaker 1: Kevin Surreally. You're listening to Bloomberg. You're listening to Sound

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Speaker 1: On with Kevin Surreally on Bloomberg one and one oh

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Speaker 1: seven f m h D two Baltimore. Did just see this?

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Speaker 1: The Fed minutes came out today. Federal Reserve policymakers last

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Speaker 1: month grappling with quote unquote significant uncertainties end quote. Do

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Speaker 1: you wonder what that is? Trade? And persistently low inflation

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Speaker 1: as they scrapped forecast for interest rate hikes in nineteen

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Speaker 1: even while voicing the needs to maintain policy flexibility. I'm

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Speaker 1: reading my colleagues report, Craig Torrez. You can read the

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Speaker 1: full full report over on the Bloomberg Terminal. Will have

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Speaker 1: much more on the economic front coming up, especially from

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Speaker 1: House Financial Services Committee Chairwoman Maxine Waters, Democrat from California.

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Speaker 1: She convened the largest gathering of big bank CEOs at

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Speaker 1: a Congressional hearing since the two thousand and eight Great Recession,

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Speaker 1: and it was high high political theater. Sometimes not good theater,

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Speaker 1: but theater. Nonetheless, much more on that front coming up,

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Speaker 1: But I do want to help break down our exclusive

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Speaker 1: interview today that we just heard from from Brian Hook.

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Speaker 1: Have you heard his name, because now you know it,

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Speaker 1: Brian Hook. He is the go to guy inside of

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Speaker 1: the Trump administration on Iran policy, really, the architect of

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Speaker 1: President Trump's Iran nuclear disarmament policy and decision really to

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Speaker 1: get out of the Obama administration's Iran deal j C.

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Speaker 1: P o A. He's a senior policy advisor to Secretary

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Speaker 1: of State Mike oh and a special representative for Iran.

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Speaker 1: Has been around national security conservative circles for decades. UH

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Speaker 1: and we are grateful that he came in studio for

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Speaker 1: Bloomberg TV and Bloomberg Radio. Huggar Kamali Uh is with

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Speaker 1: me now to help break all of that down. UH.

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Speaker 1: And she is the CEO of Greenwich Media Strategies. She

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Speaker 1: is a former Treasury spokesperson for Terrorism and Financial Intelligence

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Speaker 1: in the Obama administration and the former spokesperson for the

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Speaker 1: US mission to the U N You heard that interview,

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Speaker 1: What did you make of it? You know, it was

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Speaker 1: it was fascinating when it was a great interview. I

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Speaker 1: have a long history in sanctions in particular, so I

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Speaker 1: started my career, believe it or not, under President Bush

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Speaker 1: working in the Office of Terrorism and Financial Intelligence at

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Speaker 1: Treasury when we started in two thousand six the initial

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Speaker 1: sanctions on Iran and um. So, you know, the things

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Speaker 1: I found fascinating with his interview in particular, certainly the

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Speaker 1: financial aspect, which I want to dive into a little

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Speaker 1: bit more in a set in a second. But you know,

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Speaker 1: I thought his messaging on the question of deterring Iran

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Speaker 1: in terms of its support for terrorism and it's nefarious

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Speaker 1: behavior across the region and changing its behavior, I thought

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Speaker 1: that was interesting because he's trying to disabuse this belief

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Speaker 1: propagated by many right now that the administration is actually

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Speaker 1: trying to pursue regime change. So between that and his

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Speaker 1: op ed, which his op ed was essentially about that

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Speaker 1: topic as well, you know, changing Iran's behavior so that

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Speaker 1: the U s RON relationship could could be ignited. UM.

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Speaker 1: You know, I thought that was a really interesting point.

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Speaker 1: So do you agree with it? I mean, I think

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Speaker 1: I think that is I think it's the right goal.

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Speaker 1: I don't think regime change makes sense. It's not something

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Speaker 1: that the United States has ever done well. But I

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Speaker 1: want to ask you about a question, do you But

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Speaker 1: I mean, so you're saying that the US is pretty

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Speaker 1: clear here, the President Trump and Brian hook we're pretty

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Speaker 1: clear here that they're not pursuing regime change, trying to

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Speaker 1: get them to negotiate. And I was I was interested

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Speaker 1: in your perspective and in terms of this this idea

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Speaker 1: of of finding the balance between sanctions but making sure

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Speaker 1: the sanctions are and you know this making sure that

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Speaker 1: the sanctions aren't gonna you know, shoot the US and

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Speaker 1: the foot for lack of a better term, or hurt

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Speaker 1: US businesses totally. So I'm a complete sanctions nerd. I'm

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Speaker 1: so excited to talk about this part in particular. You know,

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Speaker 1: first of all, when it comes to sanctions, and Brian

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Speaker 1: Hooks said that part of the goal in listing the

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Speaker 1: i r g C on the Foreign Terrorist Organization list

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Speaker 1: on Monday, actually it takes place April fifteenth, but their

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Speaker 1: their announcement with the intent to designate them. That part

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Speaker 1: of it was to further financially isolate the Islamic Revolutionary

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Speaker 1: Guard Corps UM. The issue there is that you really

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Speaker 1: can't further isolate them. Then they've already been isolated because

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Speaker 1: they were sanctioned over ten years ago. So the i

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Speaker 1: r g C was sanctioned in October two thousand seven.

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Speaker 1: I was there at the Treasury Department. It was under

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Speaker 1: the Bush administration, UM under an authority for its support

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Speaker 1: for nuclear programs and and support for Iran's nuclear program. Right,

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Speaker 1: So that was the first. Then the vision of the IRGC,

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Speaker 1: known as the Kuts Force, which supports terroist activity in

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Speaker 1: the region, was sanctioned on the same day under the

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Speaker 1: terrorism authority. What does that mean? If you're driving from

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Speaker 1: work and you're like, all right, the US is adam

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Speaker 1: more sanctions on a wing of Iran's government. What does

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Speaker 1: that mean? Right? It means listen it. We've often sanctioned

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Speaker 1: elements of governments that have posed, that have engaged in

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Speaker 1: nefarious behavior, that pose objectionable that do objectionable things. Right,

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Speaker 1: That's that's not new. Um Brian Hook wasn't certainly wasn't

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Speaker 1: wrong in his explanation of the significance of this action

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Speaker 1: on Monday, that we have never labeled a division of

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Speaker 1: a government as a terrorist. Yeah, so that we haven't

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Speaker 1: done that. We have certainly sanctioned them under the terrorism authority.

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Speaker 1: What that means is that in two thousand seven, when

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00:25:48,800 --> 00:25:51,359
Speaker 1: we did that initially, um, and that was for the

432
00:25:51,400 --> 00:25:55,639
Speaker 1: IRGC kuts Force, right, the Trump administration then sanctioned the

433
00:25:55,680 --> 00:26:00,200
Speaker 1: IRGC not only under the Nuclear Authority, but or the

434
00:26:00,320 --> 00:26:03,720
Speaker 1: terrorism authority as well. Right. So it means and listen,

435
00:26:03,760 --> 00:26:05,920
Speaker 1: I hesitate to say this one sanctions with sanctions because

436
00:26:06,160 --> 00:26:09,360
Speaker 1: I I I always argue that sanctions are not symbolic,

437
00:26:09,840 --> 00:26:13,760
Speaker 1: that they have much greater use um. And listing an

438
00:26:13,960 --> 00:26:16,880
Speaker 1: element or a government agency on a foreign Terrorist Organization

439
00:26:16,960 --> 00:26:20,760
Speaker 1: list does have other legal implication implications not just related

440
00:26:20,760 --> 00:26:22,560
Speaker 1: to sanctions. But at the end of the day, this

441
00:26:22,680 --> 00:26:24,679
Speaker 1: was about the message. Let's be very clear about her.

442
00:26:24,720 --> 00:26:28,280
Speaker 1: Gar Kamali is CEO of Greenwich Greenwich Media Strategy. She's

443
00:26:28,320 --> 00:26:31,440
Speaker 1: a former Treasury spokesperson in the Obama Administration for Terrorism

444
00:26:31,760 --> 00:26:34,480
Speaker 1: and Financial Intelligence, as well as a former spokesperson for

445
00:26:34,520 --> 00:26:37,719
Speaker 1: the US mission to the u N Switch Gears. Venezuela

446
00:26:37,920 --> 00:26:42,720
Speaker 1: Oh yeah, okay, I mean it's Wang who when is

447
00:26:42,800 --> 00:26:44,520
Speaker 1: I don't even I can you get the question out

448
00:26:44,920 --> 00:26:48,680
Speaker 1: about whether, because how do you now sanction Venezuela while

449
00:26:48,720 --> 00:26:52,879
Speaker 1: we're recognizing Panguido? I mean, and Medoro is just like

450
00:26:53,040 --> 00:26:56,520
Speaker 1: clinging around. I mean, why do you make this is

451
00:26:56,600 --> 00:26:59,399
Speaker 1: such a broad question. But what additional sanctions for a

452
00:26:59,480 --> 00:27:03,720
Speaker 1: more precise question, Kevin's really when more precise sanctions against

453
00:27:03,800 --> 00:27:10,320
Speaker 1: Venezuela hurt or help the situation in Venezuela. So Venezuela

454
00:27:10,440 --> 00:27:12,920
Speaker 1: is an interesting case study, especially when you get to

455
00:27:13,000 --> 00:27:16,600
Speaker 1: the question of backlash on US businesses. But let's let's

456
00:27:16,640 --> 00:27:20,040
Speaker 1: get to that after. So when it comes to the

457
00:27:20,160 --> 00:27:23,280
Speaker 1: role of sanctions in Venezuela, the issue is that the

458
00:27:23,520 --> 00:27:28,600
Speaker 1: U S policy towards Venezuela is aimed at supporting Guido,

459
00:27:29,000 --> 00:27:32,480
Speaker 1: supporting an end goal of free and fair elections. This,

460
00:27:32,840 --> 00:27:35,920
Speaker 1: this policy, not only sanctions. Sanctions has to be part

461
00:27:35,960 --> 00:27:38,520
Speaker 1: and parcels of a broader strategy. Um. And when it

462
00:27:38,600 --> 00:27:40,359
Speaker 1: comes to Venezuela, I certainly hope that it is. I

463
00:27:40,440 --> 00:27:43,200
Speaker 1: think that it is. Um. You know that one is

464
00:27:43,240 --> 00:27:45,879
Speaker 1: about regime change, right. We want President Nicolas Monduro to

465
00:27:45,920 --> 00:27:48,080
Speaker 1: step down, we don't recognize him as a legitimate leader.

466
00:27:48,280 --> 00:27:54,119
Speaker 1: He's right, and you know absolutely, and I think bigger

467
00:27:54,200 --> 00:27:59,520
Speaker 1: Nancy Pelosi doesn't. Well, it's almost sixty countries have recognized

468
00:27:59,560 --> 00:28:03,439
Speaker 1: Guido as the legitimate leader of Venezuela, and most of them,

469
00:28:03,680 --> 00:28:06,480
Speaker 1: including us, with the condition that he pursued free and

470
00:28:06,520 --> 00:28:09,919
Speaker 1: fair elections. Right. The sanctions are there to help push

471
00:28:10,119 --> 00:28:13,560
Speaker 1: that along, but it's a situation that is already unfolding

472
00:28:13,600 --> 00:28:16,920
Speaker 1: in Venezuela. Whither without our sanctions. We're diving into the

473
00:28:17,040 --> 00:28:21,200
Speaker 1: geopolitics of sanctions in Venezuela and Iran. A very foreign

474
00:28:21,280 --> 00:28:24,480
Speaker 1: policy driven hour today, a special episode of Sound On

475
00:28:24,600 --> 00:28:27,880
Speaker 1: because of our exclusive interview with Brian Hook, special representative

476
00:28:27,880 --> 00:28:30,600
Speaker 1: for Iran and a senior policy advisor to UH the

477
00:28:30,680 --> 00:28:33,560
Speaker 1: Secretary of State Mike Pompeo. Coming up, we're getting back

478
00:28:33,600 --> 00:28:37,960
Speaker 1: to domestic politics and that remarkable hearing of the top

479
00:28:38,040 --> 00:28:40,680
Speaker 1: banking CEOs. I'm gonna play for you my interview coming

480
00:28:40,760 --> 00:28:45,000
Speaker 1: up with House Financial Services Committee Chairwoman Nancy Pelosi. You

481
00:28:45,120 --> 00:28:48,640
Speaker 1: can download the Sound On podcast on Apple iTunes, at

482
00:28:48,680 --> 00:28:52,120
Speaker 1: Bloomberg dot com or by downloading the Bloomberg Business app.

483
00:28:52,240 --> 00:28:55,280
Speaker 1: Check us out on radio dot Com, I Heart Radio

484
00:28:55,440 --> 00:28:58,520
Speaker 1: and Spotify. I m F Week, I m F week

485
00:28:58,600 --> 00:29:02,400
Speaker 1: World Bank. David malpas Us his first comments, everybody's in town.

486
00:29:02,480 --> 00:29:04,800
Speaker 1: We are in the middle of it all. I'm Kevin

487
00:29:04,880 --> 00:29:11,280
Speaker 1: CURRELLI you're listening to Bloomberg. This is Sound On with

488
00:29:11,480 --> 00:29:16,120
Speaker 1: Kevins relate on Bloomberg one and one point seven of

489
00:29:16,280 --> 00:29:19,960
Speaker 1: m h D two Baltimore. Big day for big banks,

490
00:29:20,120 --> 00:29:24,360
Speaker 1: the largest convening of financial c e O s in

491
00:29:24,600 --> 00:29:28,280
Speaker 1: Congress since the Great Recession. I was at that hearing

492
00:29:28,320 --> 00:29:33,280
Speaker 1: in the House Rayburn Building. What a four hours hours?

493
00:29:33,280 --> 00:29:36,400
Speaker 1: What the past twenty four hours between in Rayburn for

494
00:29:36,440 --> 00:29:39,160
Speaker 1: the House Financial Services Committee? Let of course by Chairwoman

495
00:29:39,560 --> 00:29:42,959
Speaker 1: Maxine Waters. Take a listen to what I interviewed her

496
00:29:43,040 --> 00:29:47,480
Speaker 1: about earlier today. Here's the chairwoman of the Financial Services Committee.

497
00:29:48,200 --> 00:29:51,560
Speaker 1: I started out this morning asking them about their lines

498
00:29:51,600 --> 00:29:55,120
Speaker 1: of business and whether or not they were eliminating lines

499
00:29:55,320 --> 00:30:00,960
Speaker 1: of business that caused difficult problems in management. Surprise, eliminating

500
00:30:01,040 --> 00:30:04,280
Speaker 1: lines of businesses helped them to do better management. And

501
00:30:04,440 --> 00:30:06,760
Speaker 1: I wanted that on record. And what do you hope

502
00:30:06,800 --> 00:30:09,680
Speaker 1: to come out of this hearing as it moves forward?

503
00:30:09,760 --> 00:30:11,480
Speaker 1: Like what is the what is the hope for you

504
00:30:12,320 --> 00:30:14,520
Speaker 1: to get to the bottom of this once the hearing

505
00:30:14,600 --> 00:30:18,320
Speaker 1: reps well. My great hope is that the big banks,

506
00:30:18,520 --> 00:30:21,240
Speaker 1: who have had the power to influence the Congress for

507
00:30:21,360 --> 00:30:24,480
Speaker 1: so many years, will understand it is a new day

508
00:30:24,920 --> 00:30:27,240
Speaker 1: and it is a new way, and that they're going

509
00:30:27,320 --> 00:30:30,680
Speaker 1: to be held accountable. We're looking at their sizes, We're

510
00:30:30,720 --> 00:30:33,240
Speaker 1: looking at their lines of business. We're looking at whether

511
00:30:33,320 --> 00:30:37,400
Speaker 1: or not they're lending uh to homeowners who deserve to have,

512
00:30:37,880 --> 00:30:40,600
Speaker 1: you know, a mortgage. We're looking at what they're doing

513
00:30:40,720 --> 00:30:43,920
Speaker 1: for millennials. We're looking at whether or not these banks

514
00:30:44,240 --> 00:30:47,360
Speaker 1: are sent it on just making money for themselves and

515
00:30:47,440 --> 00:30:49,840
Speaker 1: big profits, or whether or not they're gonna use that

516
00:30:50,000 --> 00:30:54,040
Speaker 1: opportunity to help out our communities and with economic development.

517
00:30:54,080 --> 00:30:55,880
Speaker 1: And just one more question. I know you literally have

518
00:30:56,000 --> 00:30:58,480
Speaker 1: to go in there to gather, but while I'm here

519
00:30:58,520 --> 00:31:03,840
Speaker 1: and have you in terms of illuming another potential economic procession,

520
00:31:04,120 --> 00:31:06,560
Speaker 1: what steps need to be taken, share women, to prevent

521
00:31:07,200 --> 00:31:11,800
Speaker 1: another economic recession? Exactly what we're doing now. Legislators have

522
00:31:11,960 --> 00:31:16,080
Speaker 1: to step up to their responsibility and stop being you know,

523
00:31:16,240 --> 00:31:20,080
Speaker 1: puppets for the big banks of America and represent the

524
00:31:20,120 --> 00:31:23,240
Speaker 1: consumers and I want that to come out of this committee.

525
00:31:23,360 --> 00:31:26,600
Speaker 1: I want them to understand again that we are going

526
00:31:26,680 --> 00:31:29,720
Speaker 1: to do oversight, we are going to do investigation, we

527
00:31:29,840 --> 00:31:33,960
Speaker 1: are going to represent our consumers. That's House Financial Services

528
00:31:34,000 --> 00:31:37,880
Speaker 1: Committee Chairwoman Maxine Waters, a Democrat from California, speaking with

529
00:31:38,000 --> 00:31:41,480
Speaker 1: me earlier on Bloomberg Television. It was the first hearing

530
00:31:41,920 --> 00:31:44,320
Speaker 1: since two thousand and nine that the CEOs of the

531
00:31:44,400 --> 00:31:48,920
Speaker 1: top US banks testified together before Congress. Lawmakers from the

532
00:31:48,960 --> 00:31:52,840
Speaker 1: House Financial Services Committee question bank executives on a host

533
00:31:52,920 --> 00:31:56,920
Speaker 1: of different issues, including income inequality, financial stability, and their

534
00:31:57,000 --> 00:32:02,720
Speaker 1: ties to politically controversial UH industries and I. And from

535
00:32:02,720 --> 00:32:05,440
Speaker 1: the bank's perspective, they were putting out there that they

536
00:32:05,480 --> 00:32:09,480
Speaker 1: are stronger than the crash, They were grateful for the

537
00:32:09,600 --> 00:32:15,120
Speaker 1: support of the regulators to some extent, taxpayers to a

538
00:32:15,160 --> 00:32:18,240
Speaker 1: bigger extent since the two thousand and eight crash, and

539
00:32:18,360 --> 00:32:20,800
Speaker 1: that they have raised more capital, that they have tried

540
00:32:20,880 --> 00:32:24,200
Speaker 1: to boost their capital, have more access to liquidity and

541
00:32:24,560 --> 00:32:27,960
Speaker 1: share access to to a host of different financial services.

542
00:32:28,080 --> 00:32:31,800
Speaker 1: But as sign at the times, really an illustration UH

543
00:32:31,880 --> 00:32:35,520
Speaker 1: and a moment at data point, should there no one

544
00:32:35,600 --> 00:32:38,600
Speaker 1: wants it? But should there be another economic recession as

545
00:32:38,720 --> 00:32:43,840
Speaker 1: some keywords some economists are predicting. Really a key data

546
00:32:43,920 --> 00:32:47,160
Speaker 1: point in that conversation, and at a time when Democratic

547
00:32:47,200 --> 00:32:54,520
Speaker 1: presidential candidates are making the populist issues issues of the day,

548
00:32:54,920 --> 00:32:58,320
Speaker 1: a lot of power in that Rayburn House building, Uh,

549
00:32:58,440 --> 00:33:03,200
Speaker 1: not just those sitting uh testifying before Congress, but also

550
00:33:03,680 --> 00:33:06,120
Speaker 1: including new voices such as the twenty nine year old

551
00:33:06,520 --> 00:33:10,200
Speaker 1: from congresswoman freshman congresswoman from New York. Of course I'm

552
00:33:10,240 --> 00:33:15,160
Speaker 1: talking about Congresswoman Alexandria Acasio Cortez. Reverend Jesse Jackson was there.

553
00:33:15,520 --> 00:33:20,040
Speaker 1: I asked him if if AOC was being underestimated, and

554
00:33:20,400 --> 00:33:23,280
Speaker 1: he told me yes, she is. All right, let's switch

555
00:33:23,320 --> 00:33:27,080
Speaker 1: back to foreign policy because we've got uh some great

556
00:33:27,960 --> 00:33:33,760
Speaker 1: guests joining us in studio. We have Huggar Camali uh

557
00:33:34,040 --> 00:33:39,360
Speaker 1: and my colleague, a legendary your first time on. I'm so,

558
00:33:39,720 --> 00:33:42,400
Speaker 1: what did you make of of my big interview with

559
00:33:42,720 --> 00:33:45,160
Speaker 1: not my what do you make of the interview with

560
00:33:45,200 --> 00:33:48,240
Speaker 1: Brian Hark? I thought, what was most interesting to me

561
00:33:48,480 --> 00:33:51,960
Speaker 1: is what what Brian seemed to want to go out

562
00:33:52,000 --> 00:33:55,640
Speaker 1: of his way not to say, which is uh that Um,

563
00:33:56,160 --> 00:33:58,000
Speaker 1: they really do not want to tip their hand on

564
00:33:58,200 --> 00:34:00,920
Speaker 1: on whether they're going to issue new waivers for uh

565
00:34:01,480 --> 00:34:05,040
Speaker 1: Iran to export oil. And in part that's because there's

566
00:34:05,080 --> 00:34:07,680
Speaker 1: this huge fight going on right now in the administration

567
00:34:07,720 --> 00:34:11,400
Speaker 1: where you have the hard liners like Pompeo up against

568
00:34:11,480 --> 00:34:15,000
Speaker 1: the harder liners John Bolton and folks at the NSC

569
00:34:15,200 --> 00:34:18,880
Speaker 1: who really want to bring uh just absolutely crushed the

570
00:34:18,960 --> 00:34:22,960
Speaker 1: Iranian economy, bring oil waivers to zero. And um, you know,

571
00:34:23,040 --> 00:34:24,959
Speaker 1: Brian Hook has a lot of other things to think about,

572
00:34:25,040 --> 00:34:28,200
Speaker 1: chiefly the president who does not want oil above seventy

573
00:34:28,320 --> 00:34:30,880
Speaker 1: dollars a barrel because of the effect that that may

574
00:34:30,920 --> 00:34:33,040
Speaker 1: have on US gas prices. And right now oil is

575
00:34:33,120 --> 00:34:35,200
Speaker 1: at seventy dollars a barrel, so he's got a lot

576
00:34:35,239 --> 00:34:37,759
Speaker 1: on his mind. Nick, you you're being modest because you

577
00:34:37,960 --> 00:34:41,640
Speaker 1: broke the story about there's waivers in particular UH and

578
00:34:41,800 --> 00:34:43,840
Speaker 1: and and who was going to get access to those waivers?

579
00:34:44,960 --> 00:34:46,839
Speaker 1: I mean, he did, wouldn't say one way or the other,

580
00:34:46,840 --> 00:34:48,640
Speaker 1: and we're gonna find out on May second. But do

581
00:34:48,800 --> 00:34:51,480
Speaker 1: you think what or what did you glean from from

582
00:34:51,600 --> 00:34:54,960
Speaker 1: his responses? I think they will give waivers. Um. I

583
00:34:55,040 --> 00:34:57,560
Speaker 1: think that definitely will happen. And you know that what

584
00:34:57,760 --> 00:34:59,920
Speaker 1: was interesting though to me about what he said to you.

585
00:35:00,000 --> 00:35:02,400
Speaker 1: As he said they're going they are able to accelerate

586
00:35:02,480 --> 00:35:05,759
Speaker 1: their path to zero on waivers, So that that kind

587
00:35:05,800 --> 00:35:09,040
Speaker 1: of language, what he's doing there is signaling to the

588
00:35:09,200 --> 00:35:11,880
Speaker 1: harder liners, to the folks the NFC and and people

589
00:35:11,960 --> 00:35:15,320
Speaker 1: like that, that they are doing all they can really

590
00:35:15,400 --> 00:35:17,319
Speaker 1: to get around to zero. But you know, we've still

591
00:35:17,440 --> 00:35:19,840
Speaker 1: got a couple of weeks before before he has to

592
00:35:19,920 --> 00:35:22,800
Speaker 1: make that decision. So so while he wants to appease

593
00:35:22,880 --> 00:35:24,680
Speaker 1: those guys, he's also got to make sure the oil

594
00:35:24,719 --> 00:35:27,239
Speaker 1: market remains calm because what happened last time before the

595
00:35:27,280 --> 00:35:30,000
Speaker 1: waivers was they were really previewing that they were going

596
00:35:30,080 --> 00:35:32,120
Speaker 1: to go to zero and the oil market spiked. That

597
00:35:32,239 --> 00:35:34,560
Speaker 1: created a lot of panic. They've learned their lessons now

598
00:35:34,680 --> 00:35:37,319
Speaker 1: he's being very cautious. He does not want to tip

599
00:35:37,440 --> 00:35:39,719
Speaker 1: his hand ahead of a second. Nick Wadhams, a State

600
00:35:39,760 --> 00:35:42,880
Speaker 1: Department reporter for Bloomberg News. UH, really the go to

601
00:35:43,000 --> 00:35:45,080
Speaker 1: I'm not even saying this, like the go to State

602
00:35:45,120 --> 00:35:48,640
Speaker 1: Department reporter on the beat. Huggar Komali is CEO of

603
00:35:48,719 --> 00:35:51,960
Speaker 1: Greenwich Media Strategies, worked in the Obama administration at the

604
00:35:51,960 --> 00:35:56,040
Speaker 1: State Department. Uh and was always butchered this other title

605
00:35:56,080 --> 00:35:58,759
Speaker 1: on your resume, Haggard, and I apologize, but the spokeswoman

606
00:35:58,920 --> 00:36:02,160
Speaker 1: for the U US and Void to the U n Yes,

607
00:36:02,239 --> 00:36:05,040
Speaker 1: So I was at this spokesperson for Terrorism and Financial

608
00:36:05,120 --> 00:36:08,920
Speaker 1: Challenges at Treasury and spokesperson and constrector at the US

609
00:36:08,960 --> 00:36:11,120
Speaker 1: Mission to the United Nations. I want to talk Venezuela

610
00:36:11,160 --> 00:36:12,840
Speaker 1: and I want to watch you too, kind of. So

611
00:36:13,080 --> 00:36:15,239
Speaker 1: in terms of Venezuela, what are you going to be

612
00:36:15,280 --> 00:36:16,840
Speaker 1: looking for? We only have about two minutes lapt but

613
00:36:16,840 --> 00:36:18,399
Speaker 1: what are you going to be looking for? For next

614
00:36:18,440 --> 00:36:21,200
Speaker 1: steps for US? And that as well well, I could

615
00:36:21,280 --> 00:36:24,200
Speaker 1: see I could see some additional sanctions. But sanctions, as

616
00:36:24,239 --> 00:36:25,840
Speaker 1: we know, are not the silver bullet, right, I mean,

617
00:36:25,880 --> 00:36:27,560
Speaker 1: they have to be part and parcel of a broader

618
00:36:27,600 --> 00:36:30,319
Speaker 1: policy strategy. And so I think the next step really,

619
00:36:30,400 --> 00:36:33,040
Speaker 1: I mean the sanctions as far I've been strong, especially Pavesa,

620
00:36:33,440 --> 00:36:36,239
Speaker 1: they need to be now focused on rallying the other

621
00:36:36,719 --> 00:36:40,880
Speaker 1: foreign partners to increase pressure on Maduro. My big question

622
00:36:41,080 --> 00:36:43,840
Speaker 1: also is that that the administration when it when it

623
00:36:43,960 --> 00:36:47,520
Speaker 1: came out and recognized the interim president Janguido, it seemed

624
00:36:47,560 --> 00:36:49,320
Speaker 1: like they thought this was all going to unravel in

625
00:36:49,400 --> 00:36:52,320
Speaker 1: Moduro was going to come out very quickly, but that

626
00:36:52,480 --> 00:36:54,879
Speaker 1: was in January. We're now in April. Do you get

627
00:36:54,920 --> 00:36:57,120
Speaker 1: the sense that like this hasn't happened as quickly as

628
00:36:57,160 --> 00:36:59,879
Speaker 1: they wanted, you know, probably on their on their watch.

629
00:37:00,040 --> 00:37:02,120
Speaker 1: But I can tell you I handled Syria at the

630
00:37:02,160 --> 00:37:04,200
Speaker 1: National Security Council at the beginning of the Arab Spring,

631
00:37:04,280 --> 00:37:06,600
Speaker 1: and I can tell you that the assumption they have,

632
00:37:06,680 --> 00:37:08,960
Speaker 1: this assumption that the military was going to defect and

633
00:37:09,040 --> 00:37:10,879
Speaker 1: that it would be mass and that it would under

634
00:37:10,880 --> 00:37:13,920
Speaker 1: mine Maduro, just as it had from a Barak in Egypt.

635
00:37:14,320 --> 00:37:17,200
Speaker 1: Having handled Syria and making that same false assumption when

636
00:37:17,239 --> 00:37:19,080
Speaker 1: we were at the White House, I can tell you

637
00:37:19,200 --> 00:37:21,520
Speaker 1: that they may assume that it's going to go fast,

638
00:37:21,960 --> 00:37:24,520
Speaker 1: but these things take years, and it's normal for it

639
00:37:24,600 --> 00:37:26,520
Speaker 1: to take years. It's also normal for the military not

640
00:37:26,600 --> 00:37:29,320
Speaker 1: to defect on masks, So you're not worried about that,

641
00:37:29,719 --> 00:37:32,839
Speaker 1: like time horizon seeming to slip, because that's just how

642
00:37:32,880 --> 00:37:34,680
Speaker 1: it goes. To me, it seems normal. All right, We're

643
00:37:34,680 --> 00:37:36,320
Speaker 1: gonna have to leave it there. It's I M f Or.

644
00:37:36,360 --> 00:37:39,759
Speaker 1: Thanks to Nick Wadham's the State Department reporter for Bloomberg News,

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Speaker 1: and of course to Huggard Camali, front of the program,

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Speaker 1: former Treasury official in the Obama administrations, and to Brian

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Speaker 1: hook A, the senior advisor to Secretary of State Mike Pompeo.

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Speaker 1: Happy I m F week, Tom Keane isn't route to

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Speaker 1: d C. I'll be on with them tomorrow morning on

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Speaker 1: Bloomberg Surveillance. You can download the sound on podcasts on

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Speaker 1: Apple iTunes. Check us out on Spotify radio dot com

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Speaker 1: and I heart Radio and the Bloomberg Business app. I'm

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Speaker 1: Kevin SURRELLI you're listening to Bloomberg