1 00:00:00,840 --> 00:00:05,600 Speaker 1: Why from our nation's camera. How do we reopen this economy? 2 00:00:05,680 --> 00:00:08,800 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,920 --> 00:00:11,920 Speaker 1: does this do for the United States relationship with China? 4 00:00:12,080 --> 00:00:17,000 Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're 5 00:00:17,040 --> 00:00:20,239 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:20,360 --> 00:00:23,919 Speaker 1: never before. We're looking at seventy kennidates for different vaccines. 7 00:00:23,960 --> 00:00:26,680 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:26,680 --> 00:00:30,760 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin 9 00:00:30,840 --> 00:00:35,120 Speaker 1: Surrel on Bloomberg and one oh five point seven f 10 00:00:35,280 --> 00:00:40,280 Speaker 1: m h D two. Remembering September eleven, what would what 11 00:00:40,360 --> 00:00:42,760 Speaker 1: would the foreign policy visions for both campaigns look like? 12 00:00:42,800 --> 00:00:45,800 Speaker 1: We're going to talk to an all star panel on that. 13 00:00:45,880 --> 00:00:49,440 Speaker 1: Plus new news out of the State's Department where Bahrain 14 00:00:49,560 --> 00:00:53,080 Speaker 1: and Israel have announced normalization of ties. I take it 15 00:00:53,120 --> 00:00:56,440 Speaker 1: to the State Department for an exclusive interview with Morrigan Ortegas. 16 00:00:56,480 --> 00:00:58,880 Speaker 1: So we have a lot to get through. Earlier today, 17 00:00:58,960 --> 00:01:02,480 Speaker 1: Bahrain into the administration, will become the second Gulf nation 18 00:01:02,520 --> 00:01:06,520 Speaker 1: to establish formal ties with Israel, joining the United Arab 19 00:01:06,640 --> 00:01:11,720 Speaker 1: Emiratis and normalizing relations with the Jewish state after years 20 00:01:11,720 --> 00:01:16,040 Speaker 1: of quiet security ties. The White House said so uh 21 00:01:16,280 --> 00:01:19,720 Speaker 1: a massive, massive joint statement coming from the U S, 22 00:01:19,760 --> 00:01:23,280 Speaker 1: Bahrain and Israel saying, quote, this is a historic breakthrough 23 00:01:23,600 --> 00:01:26,120 Speaker 1: to further peace in the Middle East end quote. I 24 00:01:26,200 --> 00:01:27,880 Speaker 1: was just at the State Department and I spoke with 25 00:01:28,160 --> 00:01:32,240 Speaker 1: Morgan Ortegas, who was the spokesperson for Secretary Pompeo. Take 26 00:01:32,240 --> 00:01:33,959 Speaker 1: a listen to what she told me about how the 27 00:01:33,959 --> 00:01:36,520 Speaker 1: deal came about. I just left the Oval Office with 28 00:01:36,600 --> 00:01:39,040 Speaker 1: President Trump um and his entire team, and I have 29 00:01:39,120 --> 00:01:42,120 Speaker 1: to say it was an incredibly historic moment. It was 30 00:01:42,160 --> 00:01:44,400 Speaker 1: one of those moments. I was staring at the painting 31 00:01:44,440 --> 00:01:47,120 Speaker 1: of Abraham Lincoln, as with those moments that you remember 32 00:01:47,160 --> 00:01:49,960 Speaker 1: for a lifetime. And on the call right before the 33 00:01:50,000 --> 00:01:52,800 Speaker 1: press came in, President Trump was talking to Prime Minister 34 00:01:52,880 --> 00:01:56,640 Speaker 1: net and Yahoo and King Hammad of Bahrain and Prime 35 00:01:56,680 --> 00:01:58,480 Speaker 1: Minister net Yah, who made the point that it took 36 00:01:58,520 --> 00:02:02,000 Speaker 1: twenty six years to it to uh An Arab Israel 37 00:02:02,280 --> 00:02:04,160 Speaker 1: peace that way haven't had one in twenty six years. 38 00:02:04,400 --> 00:02:07,960 Speaker 1: And within twenty nine days, this administration has had its 39 00:02:08,440 --> 00:02:13,640 Speaker 1: second historic recognition of Israel from a Gulf Arab state, 40 00:02:14,080 --> 00:02:15,760 Speaker 1: and we hope that there's more to come in the 41 00:02:15,800 --> 00:02:18,000 Speaker 1: Middle East. But I think that this is an amazing moment. 42 00:02:18,280 --> 00:02:20,560 Speaker 1: How did just happen? I think that's a great question 43 00:02:20,760 --> 00:02:23,320 Speaker 1: that you asked, Uh. This happens because at the very 44 00:02:23,400 --> 00:02:26,360 Speaker 1: beginning of this administration, the very first trip that President 45 00:02:26,400 --> 00:02:29,639 Speaker 1: Trump took overseas was to the Middle East, especially to 46 00:02:29,760 --> 00:02:31,639 Speaker 1: the Gulf, and then he went to Israel at the 47 00:02:31,760 --> 00:02:33,440 Speaker 1: end of the trip, and he made it clear that 48 00:02:33,600 --> 00:02:36,519 Speaker 1: his policy was going to be radically different for the 49 00:02:36,600 --> 00:02:39,919 Speaker 1: Middle East than that of the previous administration. His policy 50 00:02:40,000 --> 00:02:41,560 Speaker 1: that he said he was going to pursue was a 51 00:02:41,639 --> 00:02:44,120 Speaker 1: policy of peace, but it be it would be one 52 00:02:44,360 --> 00:02:48,480 Speaker 1: of of helping and emboldening our allies and friends, and 53 00:02:48,600 --> 00:02:50,640 Speaker 1: that means the Golf States and the State of Israel. 54 00:02:50,880 --> 00:02:53,760 Speaker 1: And that would mean not rewarding UH the State of Iran, 55 00:02:53,840 --> 00:02:56,880 Speaker 1: the Islamic Republic of Iran. So we've had two years, 56 00:02:56,960 --> 00:02:59,760 Speaker 1: two and a half years of a maximum economic pressure 57 00:02:59,800 --> 00:03:02,760 Speaker 1: camp pain against the State of Iran so that they 58 00:03:02,800 --> 00:03:05,880 Speaker 1: are unable to fund their terror network in the region. 59 00:03:05,960 --> 00:03:08,600 Speaker 1: And now you're seeing Arabs and Israelis come together. What's 60 00:03:08,639 --> 00:03:12,200 Speaker 1: in withdrawing from the Iran Deal signal to states like 61 00:03:12,600 --> 00:03:15,919 Speaker 1: Bahrain and and other and and other Arab states. That's 62 00:03:15,919 --> 00:03:18,400 Speaker 1: a great question. You know, people often ask about what 63 00:03:18,600 --> 00:03:22,480 Speaker 1: do our allies think about President Trump withdrawings from some 64 00:03:22,600 --> 00:03:25,600 Speaker 1: of these international deals. I can tell you obvious you 65 00:03:25,760 --> 00:03:27,920 Speaker 1: cover the Europeans, you know that they weren't thrilled. They 66 00:03:27,960 --> 00:03:30,840 Speaker 1: didn't agree with our decision, saying that it doesn't get 67 00:03:31,000 --> 00:03:35,440 Speaker 1: enough coverage. How betrayed our golf Arab allies felt about 68 00:03:35,480 --> 00:03:38,600 Speaker 1: this deal. They have been very concerned about the billions 69 00:03:38,640 --> 00:03:41,880 Speaker 1: of dollars that was given to the regime and sanctions 70 00:03:41,960 --> 00:03:44,320 Speaker 1: relief the regime in Tehran through the j c p 71 00:03:44,440 --> 00:03:46,760 Speaker 1: o A. And they were on the front lines of 72 00:03:47,200 --> 00:03:50,920 Speaker 1: the terror uh that was being exported from Tehran during 73 00:03:51,160 --> 00:03:54,640 Speaker 1: the j c POA before the sanctions were instituted. Again, 74 00:03:54,880 --> 00:03:59,240 Speaker 1: they've had tax on Saudi oil fields, attacks on their ships, 75 00:03:59,520 --> 00:04:04,200 Speaker 1: attack on civilian airports right throughout the region. And so 76 00:04:04,760 --> 00:04:07,360 Speaker 1: these are allies that and friends and partners that lived 77 00:04:07,440 --> 00:04:11,880 Speaker 1: next to Iran that understood that emboldening them and giving 78 00:04:11,960 --> 00:04:15,200 Speaker 1: them billions of dollars was not going to bring peace 79 00:04:15,240 --> 00:04:16,760 Speaker 1: to the Middle East. In fact, it was setting the 80 00:04:16,800 --> 00:04:19,840 Speaker 1: Middle East on fire from an economic standpoint. That was 81 00:04:19,880 --> 00:04:23,080 Speaker 1: also a really that has been a really crucial component 82 00:04:23,160 --> 00:04:28,239 Speaker 1: of all of these negotiations, not just typically the militaristic approach. 83 00:04:28,680 --> 00:04:32,120 Speaker 1: What economically did the administration push forward between the Israelis 84 00:04:32,120 --> 00:04:35,600 Speaker 1: and Bahrain. That's another fantastic question. And I think it's 85 00:04:35,640 --> 00:04:39,520 Speaker 1: important to remember, UH, that the benefits of the United 86 00:04:39,600 --> 00:04:42,960 Speaker 1: Arab Emirates and bah Haraem having this now recognition in 87 00:04:43,080 --> 00:04:46,120 Speaker 1: peace with Israel UM. And the importance of this of 88 00:04:46,200 --> 00:04:48,240 Speaker 1: this recognition is that you have you know, both you 89 00:04:48,360 --> 00:04:51,719 Speaker 1: a E and Israel and bah Haram as well. These 90 00:04:51,720 --> 00:04:55,520 Speaker 1: are all countries that are very technolog technologically advanced, UH. 91 00:04:55,760 --> 00:04:59,920 Speaker 1: They are countries that have diverse economies, especially you. Of course, 92 00:05:00,360 --> 00:05:02,680 Speaker 1: Israel has managed to make it in the region with 93 00:05:02,800 --> 00:05:05,800 Speaker 1: how oil and so they've had to be incredibly INGENUITYU. 94 00:05:06,000 --> 00:05:08,400 Speaker 1: So I think when it comes to UM, when it 95 00:05:08,480 --> 00:05:12,360 Speaker 1: comes to cybersecurity, when it comes to intellectual property, when 96 00:05:12,360 --> 00:05:15,120 Speaker 1: it comes to new tech developments, you're going to see 97 00:05:15,240 --> 00:05:19,000 Speaker 1: collaboration between the Gulf Arabs and Israel from an economic 98 00:05:19,080 --> 00:05:21,800 Speaker 1: perspective in ways that you've never dreamed before. You could 99 00:05:21,839 --> 00:05:24,560 Speaker 1: see it just by having commercial flights that now go 100 00:05:24,839 --> 00:05:29,560 Speaker 1: from Israel to Abu Dhabi that fly over Saudi Arabia. 101 00:05:29,600 --> 00:05:31,960 Speaker 1: So you're going to begin to see businessmen and women 102 00:05:32,400 --> 00:05:34,760 Speaker 1: uh in Israel and in Bahrain and and you a 103 00:05:34,880 --> 00:05:39,000 Speaker 1: e doing business together. And listen, everybody's economy post COVID 104 00:05:39,640 --> 00:05:41,560 Speaker 1: needs some sort of recovery. So this is the time 105 00:05:41,600 --> 00:05:47,039 Speaker 1: when you should be strengthening alliances, strengthening trade, strengthening economic ties. 106 00:05:47,120 --> 00:05:51,039 Speaker 1: And we think that this will be an economic incredibly 107 00:05:51,160 --> 00:05:56,159 Speaker 1: positive thing for these states Egypt, Jordan's, Bahrain. You there's 108 00:05:56,200 --> 00:05:57,800 Speaker 1: a lot of talk that there could be some other 109 00:05:57,880 --> 00:06:00,800 Speaker 1: states to follow. What signal does this send to Palestinians 110 00:06:01,200 --> 00:06:04,320 Speaker 1: right now is they're looking at now to Gulf Arab 111 00:06:04,400 --> 00:06:07,920 Speaker 1: states in a matter of weeks. Well, the Palestinians should 112 00:06:07,960 --> 00:06:10,360 Speaker 1: know that we want them to have a state, We 113 00:06:10,520 --> 00:06:13,400 Speaker 1: want them to have peace. I think the Palestinian people 114 00:06:13,480 --> 00:06:16,960 Speaker 1: have fallen victim for quite some time to a leadership 115 00:06:17,040 --> 00:06:20,080 Speaker 1: that is corrupt um and that does does not care 116 00:06:20,480 --> 00:06:24,160 Speaker 1: about peace, but instead about preserving their their own leadership. Uh. 117 00:06:24,240 --> 00:06:26,360 Speaker 1: You know, I'd asked the Palestinian people, what is this 118 00:06:26,480 --> 00:06:29,120 Speaker 1: leadership done for you? How have they advanced the cause 119 00:06:29,160 --> 00:06:32,040 Speaker 1: of peace? How how have they improved your economic security. 120 00:06:32,320 --> 00:06:36,360 Speaker 1: So remember under President Trump's UH Middle East Vision for 121 00:06:36,480 --> 00:06:39,800 Speaker 1: Peace that he laid out in February January February of 122 00:06:39,920 --> 00:06:43,200 Speaker 1: this year, we for the first time in this vision 123 00:06:43,279 --> 00:06:47,080 Speaker 1: for peace, God Israel to agree to a Palestinian state. 124 00:06:47,279 --> 00:06:49,440 Speaker 1: Never been able to do that before, right, So we 125 00:06:49,640 --> 00:06:52,560 Speaker 1: just need the Palestinians to come to the table. We 126 00:06:52,600 --> 00:06:55,279 Speaker 1: think the Palestinian people should put pressure on their leadership 127 00:06:55,320 --> 00:06:57,599 Speaker 1: to know it is a new day in the Middle East. 128 00:06:58,000 --> 00:07:00,520 Speaker 1: And just two quick topics. I know you're carefully monitoring this. 129 00:07:00,680 --> 00:07:02,640 Speaker 1: On the Afghan peace talks with the Taliban, can you 130 00:07:02,640 --> 00:07:04,880 Speaker 1: give us any update on where there's talk Stan? Yes, 131 00:07:04,960 --> 00:07:07,320 Speaker 1: So President Trump announced yesterday from the White House that 132 00:07:07,360 --> 00:07:10,720 Speaker 1: he was sending Secretary Mike Pompeo to Doha. What you'll 133 00:07:10,720 --> 00:07:14,400 Speaker 1: see tomorrow on all on the television is the opening 134 00:07:14,440 --> 00:07:19,080 Speaker 1: ceremonies of the intra Afghan negotiations UH and Secretary Pompeo 135 00:07:19,160 --> 00:07:22,280 Speaker 1: will be there with the Government of Afghanistan, with Taliban, 136 00:07:22,640 --> 00:07:26,200 Speaker 1: with civil society to kick off these negotiations. Listen, the 137 00:07:26,320 --> 00:07:28,920 Speaker 1: hardest thing that diplomats do, the hardest job that Mike 138 00:07:28,960 --> 00:07:33,360 Speaker 1: Pompeo and Zal Khalilazad have are are getting to peace 139 00:07:33,520 --> 00:07:35,160 Speaker 1: at the end of the war. Whenever you have had 140 00:07:35,320 --> 00:07:39,400 Speaker 1: nineteen years of Americans fighting the Taliban, of working we've 141 00:07:39,440 --> 00:07:42,840 Speaker 1: been working with the government of Afghanistan, the fightings continued. 142 00:07:42,960 --> 00:07:46,240 Speaker 1: Yeah since Nightila, Well, exactly a very poignant day for 143 00:07:46,280 --> 00:07:48,800 Speaker 1: you and I to be discussing this UH. So we 144 00:07:48,960 --> 00:07:50,720 Speaker 1: know that there is no way to fight your way 145 00:07:50,760 --> 00:07:53,800 Speaker 1: out of this UH problem in Afghanistan, that we have 146 00:07:53,960 --> 00:07:56,680 Speaker 1: to get all parties to the table to negotiate. Secretary 147 00:07:56,720 --> 00:07:58,880 Speaker 1: Pompeo is there and we'll be kicking this off. And 148 00:07:58,960 --> 00:08:03,080 Speaker 1: I think it's certainly historic days. And then lastly China 149 00:08:03,360 --> 00:08:05,400 Speaker 1: announcing that they were going to be taking some type 150 00:08:05,440 --> 00:08:09,040 Speaker 1: of diplomatic retaliatory measures. They're saying in terms of the 151 00:08:09,080 --> 00:08:11,280 Speaker 1: actions that the US that taken with diplomats here in 152 00:08:11,320 --> 00:08:15,720 Speaker 1: the US, it really does feel like another escalating tensions 153 00:08:15,800 --> 00:08:18,640 Speaker 1: between the Communist Party of China and the US. You know, 154 00:08:18,720 --> 00:08:21,600 Speaker 1: we're cool as a cucumber, right, We don't feel tensions 155 00:08:21,880 --> 00:08:24,440 Speaker 1: are escalating. In fact, just the opposite. What we have 156 00:08:24,560 --> 00:08:27,280 Speaker 1: done is made it very clear to the Chinese Communist 157 00:08:27,360 --> 00:08:30,600 Speaker 1: Party that we want a reciprocal relationship. So if our 158 00:08:30,680 --> 00:08:33,760 Speaker 1: diplomats in China are not allowed to meet with universities 159 00:08:33,800 --> 00:08:36,000 Speaker 1: and if they have to get permission in order to 160 00:08:36,040 --> 00:08:39,320 Speaker 1: have any sort of meetings or cultural events. UH, Chinese 161 00:08:39,360 --> 00:08:42,160 Speaker 1: diplomats in the US are going to have those same restrictions. Now, 162 00:08:42,240 --> 00:08:45,320 Speaker 1: what we would like is no restrictions on anyone's diplomats. 163 00:08:45,360 --> 00:08:48,480 Speaker 1: We would like Chinese diplomats to be able to move 164 00:08:48,520 --> 00:08:51,000 Speaker 1: around freely in the United States and allow our diplomats 165 00:08:51,040 --> 00:08:53,640 Speaker 1: in China to do so. So far, the Chinese Communist 166 00:08:53,679 --> 00:08:57,000 Speaker 1: Party have been unwilling to treat American diplomats in China 167 00:08:57,120 --> 00:08:59,319 Speaker 1: the same way we treat their diplomats here. So we 168 00:08:59,400 --> 00:09:02,960 Speaker 1: will continue you to have a fair and reciprocal relationship. UH. 169 00:09:03,040 --> 00:09:05,800 Speaker 1: If they want to get to zero right in the 170 00:09:05,920 --> 00:09:08,559 Speaker 1: sense of of letting everyone be open and free, we're 171 00:09:08,600 --> 00:09:10,319 Speaker 1: happy to get there. All they have to do is 172 00:09:10,360 --> 00:09:13,360 Speaker 1: say the word something tells me she's not gonna go 173 00:09:13,480 --> 00:09:17,439 Speaker 1: see Mulan. That was Morgan Ortegas, the spokesperson for Secretary 174 00:09:17,520 --> 00:09:22,000 Speaker 1: of State Mike Pompeo, talking about UH, China and the 175 00:09:22,280 --> 00:09:25,599 Speaker 1: upcoming Taliban peace talks with Afghanistan, and of course that 176 00:09:25,640 --> 00:09:29,439 Speaker 1: big announcement today Bahrain becoming the second Gulf nation to 177 00:09:29,640 --> 00:09:32,959 Speaker 1: establish formal ties with Israel. They have now joined the 178 00:09:33,040 --> 00:09:37,160 Speaker 1: United Arab Emirates and normalizing relations with the Jewish State 179 00:09:37,559 --> 00:09:42,000 Speaker 1: after years of quiet security ties. That of course coming 180 00:09:42,160 --> 00:09:47,040 Speaker 1: from the White House and all three nations announcing uh 181 00:09:47,120 --> 00:09:49,760 Speaker 1: and a joint statement. Quote this is a historic breakthrough 182 00:09:49,840 --> 00:09:52,800 Speaker 1: to further peace in the Middle East end quote. And 183 00:09:53,200 --> 00:09:55,959 Speaker 1: in a couple of days next week, September fift the 184 00:09:56,320 --> 00:10:00,360 Speaker 1: UAE the Marats are gonna be at the White House 185 00:10:01,080 --> 00:10:05,920 Speaker 1: with Israel to to have that ceremony. Signs so Israel 186 00:10:05,960 --> 00:10:09,760 Speaker 1: and the United Arab Everett's ceremony next week. Much more 187 00:10:09,840 --> 00:10:11,400 Speaker 1: coming up next, we got to check on the markets. 188 00:10:11,440 --> 00:10:14,320 Speaker 1: I'm Kevin Cereli, chief Washington correspondent FRO Bloomberg TV and Radio, 189 00:10:14,600 --> 00:10:23,360 Speaker 1: and you're listening to Bloomberg. You're listening to Bloomberg Sound 190 00:10:23,440 --> 00:10:27,440 Speaker 1: On with Kevin Surreley on Bloomberg and one oh five 191 00:10:27,480 --> 00:10:30,760 Speaker 1: point seven FM h D two. My name is Kevin Cereli. 192 00:10:30,800 --> 00:10:34,559 Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for 193 00:10:34,679 --> 00:10:39,000 Speaker 1: Bloomberg Radio. They silenced me. They silenced me in the 194 00:10:40,200 --> 00:10:44,000 Speaker 1: in the chat, in the chat, the producer chat I 195 00:10:44,040 --> 00:10:46,000 Speaker 1: don't know how. I don't get the technology. You know, 196 00:10:46,080 --> 00:10:48,680 Speaker 1: everyone has the zooms and the work from homes and everything. 197 00:10:49,040 --> 00:10:51,439 Speaker 1: We have one on silence. They can't hear me in 198 00:10:51,480 --> 00:10:55,800 Speaker 1: the brakes. All right, let's uh, let's talk stocks. Jeff 199 00:10:55,840 --> 00:10:58,000 Speaker 1: Pals on the line. He's a managing partner and chief 200 00:10:58,040 --> 00:11:02,480 Speaker 1: investment officer at Polaire's wealth at Issory Group in San Francisco. Uh, Jeff, 201 00:11:03,040 --> 00:11:05,960 Speaker 1: I'm looking at my terminal. The SMP five hundred has 202 00:11:06,000 --> 00:11:10,439 Speaker 1: strung together. It's two worst weeks since March. Wow, shattering 203 00:11:10,559 --> 00:11:15,160 Speaker 1: calm that had largely prevailed for five months. And then 204 00:11:15,200 --> 00:11:17,520 Speaker 1: a closer look at the market trends, particularly in the 205 00:11:17,559 --> 00:11:22,160 Speaker 1: ability to hold above levels that denote upward momentum. This suggests, Jeff, 206 00:11:22,400 --> 00:11:24,559 Speaker 1: and you know this, that what has happened can be 207 00:11:24,679 --> 00:11:28,079 Speaker 1: categorized as a correction to prevailing froth rather than a 208 00:11:28,160 --> 00:11:33,160 Speaker 1: full blown reordering of seven of sentiment. You know, it's 209 00:11:33,440 --> 00:11:38,920 Speaker 1: it's really remarkable because the SMP five hundred ended little change, 210 00:11:38,920 --> 00:11:41,640 Speaker 1: while the NASDAC one hundred fell for the fifth time 211 00:11:41,679 --> 00:11:44,800 Speaker 1: in seven days, decap its worst week since March. And 212 00:11:44,920 --> 00:11:47,040 Speaker 1: the tech heavy everyone's obsessed with the tech stocks this 213 00:11:47,120 --> 00:11:50,040 Speaker 1: week The Tech Heavy index traveled three percent from high 214 00:11:50,080 --> 00:11:54,640 Speaker 1: to low Friday and is eleven from its September two record. 215 00:11:55,240 --> 00:11:57,480 Speaker 1: I say this to you, Jeff, because then I I 216 00:11:57,720 --> 00:11:59,959 Speaker 1: what's happening in my neck of the woods here in Washington, 217 00:12:00,040 --> 00:12:04,640 Speaker 1: in d C. And Senator Richard Shelby, a Republican from Alabama, 218 00:12:05,160 --> 00:12:07,840 Speaker 1: one of the establishment folks, very in the know, very 219 00:12:07,960 --> 00:12:11,319 Speaker 1: in the know. It's old reporters today and it made 220 00:12:11,360 --> 00:12:15,959 Speaker 1: some headlines in the journal Politico. Bloomberg obviously on top 221 00:12:16,040 --> 00:12:19,559 Speaker 1: of it and said that that fiscal stimulus might not 222 00:12:19,640 --> 00:12:22,240 Speaker 1: be coming until after the election. Jeff, what do you 223 00:12:22,280 --> 00:12:27,280 Speaker 1: make of all this? I'm still I'm still laughing at 224 00:12:27,320 --> 00:12:29,160 Speaker 1: the fact that they cut you off of being able 225 00:12:29,200 --> 00:12:31,120 Speaker 1: to about the talk during the break, so you know, 226 00:12:31,720 --> 00:12:33,719 Speaker 1: it's I know, hey, Jeff, I hear you, and I 227 00:12:33,760 --> 00:12:35,640 Speaker 1: can't even complain about it in the next break because 228 00:12:35,640 --> 00:12:38,680 Speaker 1: they can't hear me. Go ahead, you're stuck with us. 229 00:12:38,800 --> 00:12:40,920 Speaker 1: But you know, it's funny because you were saying, you know, 230 00:12:41,240 --> 00:12:45,000 Speaker 1: about how the SMP had a bad week and then 231 00:12:45,040 --> 00:12:47,920 Speaker 1: Astac and so on. But I think that the thing 232 00:12:48,000 --> 00:12:51,480 Speaker 1: that's really truly the most remarkable thing of all is 233 00:12:51,559 --> 00:12:54,760 Speaker 1: just how much we've recovered from the lows, given everything 234 00:12:54,840 --> 00:12:57,760 Speaker 1: that we're really dealing with. I mean, if we were 235 00:12:57,800 --> 00:13:01,199 Speaker 1: sitting down today and we have seen the recovery, and 236 00:13:01,240 --> 00:13:04,840 Speaker 1: we were talking about how, uh, the GDP had dropped 237 00:13:04,960 --> 00:13:07,240 Speaker 1: its greatest amount that it ever had dropped in the 238 00:13:07,400 --> 00:13:10,960 Speaker 1: history of the stock market, that we've had unemployment, uh, 239 00:13:11,200 --> 00:13:15,680 Speaker 1: you know, while recovering from this low point hit seven levels, 240 00:13:16,400 --> 00:13:19,439 Speaker 1: that we had earnings that had been dropping dramatically from 241 00:13:19,480 --> 00:13:22,880 Speaker 1: the year before. Uh. And while predicted to to recover 242 00:13:23,600 --> 00:13:27,160 Speaker 1: still our fift off of what their highs were from 243 00:13:27,240 --> 00:13:30,560 Speaker 1: last year, we wouldn't be talking about making new time highs. 244 00:13:31,160 --> 00:13:33,679 Speaker 1: And yet here we are. And so a lot of it, 245 00:13:34,280 --> 00:13:36,880 Speaker 1: to me, is all based upon sentiment. It's based upon 246 00:13:36,920 --> 00:13:39,199 Speaker 1: the stimulus that you were talking about that already occurred 247 00:13:39,280 --> 00:13:41,880 Speaker 1: back in March. But it was also that there was 248 00:13:42,040 --> 00:13:45,800 Speaker 1: this next check coming be a trillion or three trillion. 249 00:13:45,880 --> 00:13:47,720 Speaker 1: I mean, what's the difference between a couple of trillion 250 00:13:47,760 --> 00:13:51,920 Speaker 1: amongst friends. But I mean, you're you're talking about stimulus 251 00:13:52,040 --> 00:13:55,040 Speaker 1: that's being tossed around. But unfortunately, given the pandemic in 252 00:13:55,240 --> 00:13:57,880 Speaker 1: the situation that we're dealing with, we don't have a 253 00:13:58,000 --> 00:14:03,079 Speaker 1: choice I mean, if it doesn't happen until after the election. Really, 254 00:14:03,240 --> 00:14:06,200 Speaker 1: I mean, if you look at where career politicians are 255 00:14:06,280 --> 00:14:10,040 Speaker 1: these days, everybody is out to start to reserve their 256 00:14:10,040 --> 00:14:12,079 Speaker 1: own shop in one way, shape, form or another. And 257 00:14:12,160 --> 00:14:17,320 Speaker 1: if if Republicans or Democrats, regardless of which way you lean, 258 00:14:17,760 --> 00:14:20,880 Speaker 1: are unwilling to put the American people first, they will 259 00:14:20,920 --> 00:14:25,360 Speaker 1: definitely be risking their future employment when it comes to elections. Well, 260 00:14:25,440 --> 00:14:28,360 Speaker 1: and you know, I think that that just captures the 261 00:14:28,640 --> 00:14:32,320 Speaker 1: sentiment perfectly because we obviously in the national media are 262 00:14:32,400 --> 00:14:35,120 Speaker 1: so focused on on the presidential but there's these down 263 00:14:35,200 --> 00:14:38,880 Speaker 1: ballot races that you know, so many of these folks 264 00:14:38,960 --> 00:14:41,560 Speaker 1: in Congress who are up for re election, whether it's 265 00:14:41,560 --> 00:14:43,920 Speaker 1: in November or in two years from now or in 266 00:14:43,960 --> 00:14:45,560 Speaker 1: a couple of years from now, that they're going to 267 00:14:45,680 --> 00:14:48,960 Speaker 1: have to be really thinking about, you know, can they 268 00:14:49,560 --> 00:14:53,120 Speaker 1: are they what's the return on investment for for their constituents. 269 00:14:53,200 --> 00:14:56,160 Speaker 1: Let me let me ask you, if what what does 270 00:14:56,240 --> 00:15:01,200 Speaker 1: fiscal stimulus mean for certainty in the marketplace? If it 271 00:15:01,400 --> 00:15:05,920 Speaker 1: weren't to come before before November three? Is this sort 272 00:15:05,960 --> 00:15:07,960 Speaker 1: of a given Now that the that the folks are 273 00:15:08,200 --> 00:15:11,760 Speaker 1: recalibrating their expectations that it's likely going to happen after 274 00:15:12,320 --> 00:15:17,720 Speaker 1: November three at the markets become become recalibrated to that. Jeff, 275 00:15:18,640 --> 00:15:21,200 Speaker 1: I don't think they're kind of sport at all. That 276 00:15:21,560 --> 00:15:25,000 Speaker 1: the more recent pullback that we've seen in the last 277 00:15:25,080 --> 00:15:29,080 Speaker 1: week is sort of a realization that perhaps it may 278 00:15:29,120 --> 00:15:30,720 Speaker 1: not be coming, or at the very at least that 279 00:15:30,800 --> 00:15:34,360 Speaker 1: it's delayed, and there's beginning to be some worry that's 280 00:15:34,440 --> 00:15:38,680 Speaker 1: being driven into the marketplace. Uh. You know again to me, 281 00:15:38,920 --> 00:15:41,480 Speaker 1: when you're looking at the original stimulus and really what's 282 00:15:41,520 --> 00:15:45,040 Speaker 1: being put out there, we really don't have a choice 283 00:15:45,160 --> 00:15:49,760 Speaker 1: given the fact that the situation we're in is completely 284 00:15:49,880 --> 00:15:53,560 Speaker 1: COVID related. If we're in a situation we don't have 285 00:15:53,680 --> 00:15:57,360 Speaker 1: a pandemic, then we're not in a situation. We're dealing 286 00:15:57,400 --> 00:16:00,680 Speaker 1: with unemployment and people who are going to make mortgage 287 00:16:00,720 --> 00:16:03,280 Speaker 1: payments or make their rents for you know, just to 288 00:16:03,400 --> 00:16:06,120 Speaker 1: keep their head above water. If you don't do it, 289 00:16:06,640 --> 00:16:10,240 Speaker 1: you've got a catastrophic situation your hands, where people aren't 290 00:16:10,440 --> 00:16:12,560 Speaker 1: you know, they're out on the street. You're dealing with 291 00:16:12,640 --> 00:16:16,240 Speaker 1: foreclosures and people that are being kicked out of their apartments, 292 00:16:16,320 --> 00:16:18,080 Speaker 1: and then the government's gonna have to pick up the 293 00:16:18,120 --> 00:16:21,720 Speaker 1: tab there anyway. So it's really kind of a luster 294 00:16:21,840 --> 00:16:25,360 Speaker 1: of evils. Do you keep people in their homes listability, 295 00:16:26,240 --> 00:16:29,160 Speaker 1: or do you let you know, nature's course take its 296 00:16:29,240 --> 00:16:31,400 Speaker 1: course and put them out on the street and they're 297 00:16:31,440 --> 00:16:33,920 Speaker 1: still going to have to have beds to sleep in 298 00:16:34,440 --> 00:16:37,520 Speaker 1: and eat, and the government would still be responsible for 299 00:16:37,600 --> 00:16:40,120 Speaker 1: before doing that one way or the other. So to me, 300 00:16:41,000 --> 00:16:45,000 Speaker 1: not having a complete disruption of our entire financial world 301 00:16:45,840 --> 00:16:48,680 Speaker 1: is the lesser of evils. Jeff Powell's online. Jeff is, 302 00:16:48,720 --> 00:16:51,240 Speaker 1: of course, the managing partner in chief investment officer at 303 00:16:51,280 --> 00:16:55,400 Speaker 1: Pilaris Weldvisory Group out in San Francisco. TikTok also back 304 00:16:55,480 --> 00:16:58,280 Speaker 1: in the news today. TikTok pushing forward with deal to 305 00:16:58,360 --> 00:17:02,960 Speaker 1: meet looming deadline um China's bike dance. UH is still 306 00:17:03,040 --> 00:17:06,800 Speaker 1: considering bids from two possible buyer's Oracle and Microsoft, which 307 00:17:06,840 --> 00:17:09,639 Speaker 1: have teamed up with Walmart. The president is saying that 308 00:17:09,720 --> 00:17:13,399 Speaker 1: that September fifteen deadline is still very much in play. 309 00:17:13,760 --> 00:17:16,960 Speaker 1: Just quickly, Jeff, while I have you, I mean, where 310 00:17:16,960 --> 00:17:20,560 Speaker 1: does China factor into the markets and US China attentions 311 00:17:20,960 --> 00:17:25,560 Speaker 1: UH factor into what we're seeing on the street. I mean, 312 00:17:26,080 --> 00:17:28,880 Speaker 1: it can every single time. It seems like it's kind 313 00:17:28,920 --> 00:17:31,240 Speaker 1: of disappeared. It's kind of like a game of lack 314 00:17:31,280 --> 00:17:33,360 Speaker 1: of male It seems like it wants to were ugly 315 00:17:33,359 --> 00:17:37,280 Speaker 1: ahead again for us, and and uh, you know, start 316 00:17:37,359 --> 00:17:39,440 Speaker 1: to start upon a little bit more. I mean, obviously 317 00:17:39,880 --> 00:17:42,719 Speaker 1: it was everything to do with last year's market. Uh. 318 00:17:42,800 --> 00:17:44,560 Speaker 1: And then just when we think that we've got enough 319 00:17:44,680 --> 00:17:49,520 Speaker 1: on our plates between pandemics and a you know, disastrous economy, 320 00:17:49,600 --> 00:17:52,000 Speaker 1: that we start having fights with our universe about things 321 00:17:52,080 --> 00:17:55,840 Speaker 1: like uh TikTok. And it seems pretty silly given the 322 00:17:55,840 --> 00:17:58,320 Speaker 1: bigger scheme of things of what we're dealing with, but 323 00:17:58,400 --> 00:18:01,600 Speaker 1: it's obviously a real thing. I mean, between the Chinese 324 00:18:01,680 --> 00:18:03,560 Speaker 1: coming out a few weeks ago and saying that they 325 00:18:03,640 --> 00:18:06,440 Speaker 1: wanted to actually become much less dependent upon the United 326 00:18:06,480 --> 00:18:10,280 Speaker 1: States with regard to chip manufacturing, well they actually didn't 327 00:18:10,359 --> 00:18:13,840 Speaker 1: name us directly, but they said foreigners of chip manufacturing, 328 00:18:13,880 --> 00:18:17,760 Speaker 1: which was obviously directed uh, directly at us. And it's 329 00:18:17,880 --> 00:18:21,760 Speaker 1: indirect relations to who want and TikTok and other things 330 00:18:21,840 --> 00:18:24,720 Speaker 1: that we seem to be wanting to mess with them about. 331 00:18:24,840 --> 00:18:28,960 Speaker 1: So as does it come into plane, absolutely, I mean again, 332 00:18:29,080 --> 00:18:31,960 Speaker 1: I think the Chinese look at that politics a little 333 00:18:31,960 --> 00:18:35,159 Speaker 1: bit differently than we do. When Premier she has a 334 00:18:35,320 --> 00:18:39,399 Speaker 1: life subscription in his position, where obviously all he has 335 00:18:39,440 --> 00:18:42,480 Speaker 1: to do is wait until November to see if Donald 336 00:18:42,480 --> 00:18:44,359 Speaker 1: Trump is still in office or not, and then to 337 00:18:44,440 --> 00:18:47,120 Speaker 1: see what we're going to see with the next president. 338 00:18:47,160 --> 00:18:49,439 Speaker 1: If he's not in office. I think that you're going 339 00:18:49,480 --> 00:18:52,000 Speaker 1: to see some some heating up. And that's why I 340 00:18:52,080 --> 00:18:53,720 Speaker 1: thought the front page of the Journal that I have 341 00:18:53,800 --> 00:18:56,080 Speaker 1: the right in my hand, Biden's pledge on China looks 342 00:18:56,080 --> 00:18:58,119 Speaker 1: a lot like Trump. Something tells me this is the 343 00:18:58,200 --> 00:19:02,359 Speaker 1: one area of agreement on national security between nominee Biden 344 00:19:02,560 --> 00:19:04,960 Speaker 1: and President Trump. Hey, Jeff, stay safe out there in 345 00:19:05,000 --> 00:19:07,080 Speaker 1: San Francisco with all the fires. Were thinking of everybody 346 00:19:07,119 --> 00:19:10,360 Speaker 1: out there. Jeff Powell, Managing Partner and chief investment Officer 347 00:19:10,600 --> 00:19:13,679 Speaker 1: at Pilaris Wealth Advisory Group in San Francisco. Coming up, 348 00:19:13,880 --> 00:19:16,840 Speaker 1: we talked more policy and politics. We've got an all 349 00:19:16,880 --> 00:19:20,080 Speaker 1: star panel. I'm also going to check in with Congresswoman 350 00:19:20,359 --> 00:19:23,800 Speaker 1: Caroline Maloney, Democrat from New York. Uh and we're gonna 351 00:19:23,840 --> 00:19:25,680 Speaker 1: remember nine eleven, and of course we're also going to 352 00:19:25,760 --> 00:19:30,200 Speaker 1: talk about geopolitics and politics of the day. Where's the stimulus? 353 00:19:30,359 --> 00:19:32,840 Speaker 1: Where's the stimulus? I gotta tell John Farris something to 354 00:19:32,960 --> 00:19:53,280 Speaker 1: one day you're listening to Bloomberg, Why from how do 355 00:19:53,400 --> 00:19:57,560 Speaker 1: we reopen this economy? The latest on how this pandemic 356 00:19:57,720 --> 00:20:00,520 Speaker 1: is impacting farmers? What does this do for the United 357 00:20:00,560 --> 00:20:06,040 Speaker 1: States relationship with China? Bloomberg Sound on the Insiders, the influencers, 358 00:20:06,160 --> 00:20:09,679 Speaker 1: the insides. We're responding to this crisis and manufacturers are 359 00:20:09,760 --> 00:20:13,120 Speaker 1: stepping up like never before. We're looking at seventy kennidates 360 00:20:13,200 --> 00:20:16,119 Speaker 1: for different vactines. How do we make sure a pandemic 361 00:20:16,280 --> 00:20:20,000 Speaker 1: of this scale never happens again? This is Bloomberg. Sound 362 00:20:20,080 --> 00:20:24,640 Speaker 1: on with Kevin Surrelate on Bloomberg and one oh five 363 00:20:24,720 --> 00:20:29,480 Speaker 1: point seven FM HD two fiscal stimulus talks Stall. Does 364 00:20:29,520 --> 00:20:32,840 Speaker 1: that mean we're not getting stimulus until after the election? 365 00:20:32,920 --> 00:20:36,520 Speaker 1: Plus all lies on that election? Bob Woodward's book sure 366 00:20:36,560 --> 00:20:40,440 Speaker 1: to dominate the sixty minutes conversation this weekend, and your 367 00:20:40,440 --> 00:20:43,119 Speaker 1: developments on the geopolitical front. And it's got back from 368 00:20:43,119 --> 00:20:45,879 Speaker 1: the State's Department and they are saying that Bahrain and 369 00:20:46,240 --> 00:20:50,320 Speaker 1: Israel have announced a normalization of ties. We've got jam packed, 370 00:20:50,920 --> 00:20:55,880 Speaker 1: jam packed political political, geopolitical hour. All of that, plus 371 00:20:56,000 --> 00:20:59,479 Speaker 1: Congresswoman Carolyn Maloney, a Democrat from New York, to help 372 00:20:59,600 --> 00:21:05,200 Speaker 1: us from member remember September eleven and also to talk 373 00:21:05,359 --> 00:21:09,200 Speaker 1: issues of the day. We remember today nineteen years ago 374 00:21:09,560 --> 00:21:15,800 Speaker 1: the September eleven attacks on our country, and we never forget. 375 00:21:15,920 --> 00:21:18,560 Speaker 1: I mean every time any of us drive past the 376 00:21:18,640 --> 00:21:24,800 Speaker 1: Pentagon on or see it, it's the heroism, hopefully, is 377 00:21:24,840 --> 00:21:28,400 Speaker 1: what we now first remember and not the horror that's 378 00:21:28,400 --> 00:21:31,280 Speaker 1: so dramatically reshaped our world. It's going to be a 379 00:21:31,359 --> 00:21:34,920 Speaker 1: theme throughout the next hour for us. I'm grateful to 380 00:21:34,960 --> 00:21:38,560 Speaker 1: welcome to the program to navigate through today. Boyd Matheson 381 00:21:38,640 --> 00:21:41,439 Speaker 1: he is a former chief of staff for Senator Mike Lee, 382 00:21:42,040 --> 00:21:45,280 Speaker 1: the Republican from Utah. He has also, of course the 383 00:21:45,440 --> 00:21:51,480 Speaker 1: opinion editor opinion editor for the Desirette News and Basil's 384 00:21:51,520 --> 00:21:55,320 Speaker 1: Michael who is a Democratic strategist and former executive director 385 00:21:55,720 --> 00:21:59,679 Speaker 1: of the New York State Democratic Party. Basil. I mean, 386 00:21:59,720 --> 00:22:04,560 Speaker 1: we're are you one? Oh? That's uh, It's a moment 387 00:22:04,640 --> 00:22:07,840 Speaker 1: I can't ever forget. I actually was voting in a 388 00:22:07,960 --> 00:22:12,000 Speaker 1: primary um as the first plane hit and a dear 389 00:22:12,119 --> 00:22:15,119 Speaker 1: friend of mine called me while I was still in 390 00:22:15,200 --> 00:22:18,120 Speaker 1: the voting booth, asked me if I had heard anything 391 00:22:18,200 --> 00:22:20,440 Speaker 1: on the news because there was an explosion at the 392 00:22:20,480 --> 00:22:24,600 Speaker 1: World Trade Center. He worked very close by and can 393 00:22:24,760 --> 00:22:28,520 Speaker 1: see people falling out of the building. Um. When I 394 00:22:28,600 --> 00:22:31,320 Speaker 1: got back to my apartment to turn on the news, 395 00:22:31,880 --> 00:22:35,880 Speaker 1: not only was I watching, UM the coverage of it unfold, 396 00:22:36,040 --> 00:22:38,320 Speaker 1: but I was working for Hillary Clinton in the Senate 397 00:22:38,359 --> 00:22:40,119 Speaker 1: at the time, and we were about to get on 398 00:22:40,720 --> 00:22:44,119 Speaker 1: our morning conference call. As we're in the middle of 399 00:22:44,200 --> 00:22:48,080 Speaker 1: that call, the second plane hit, and I just remember 400 00:22:48,200 --> 00:22:53,080 Speaker 1: how everyone was just startled and scared, and we just 401 00:22:53,280 --> 00:22:55,719 Speaker 1: agreed to hang up the phone very quickly and make 402 00:22:55,800 --> 00:22:59,120 Speaker 1: sure we found our staff wherever they were and our 403 00:22:59,200 --> 00:23:04,280 Speaker 1: loved ones. UM. And I remember just just an amazing woman. 404 00:23:04,320 --> 00:23:06,320 Speaker 1: I was married at the time also and couldn't find 405 00:23:06,359 --> 00:23:10,080 Speaker 1: my wife. That was a bit scary. But I remember 406 00:23:10,119 --> 00:23:12,919 Speaker 1: a clear as day and Vice President Mike pens as 407 00:23:12,960 --> 00:23:17,640 Speaker 1: well as UH Democratic presidential nominee Joe Biden and UH 408 00:23:17,680 --> 00:23:23,080 Speaker 1: others UH honoring the the ceremonies Earlier today, President Trump 409 00:23:23,160 --> 00:23:27,560 Speaker 1: as well acknowledging the ceremonies. Traveling to Shanksville, Pennsylvania, the 410 00:23:27,640 --> 00:23:30,920 Speaker 1: site of the third plane that had gone down. Boy Matthison, 411 00:23:30,920 --> 00:23:33,840 Speaker 1: where were you on nine eleven? I was actually living 412 00:23:33,920 --> 00:23:37,600 Speaker 1: in Oregon, just outside of Portland there in Beaverton, And 413 00:23:37,960 --> 00:23:41,280 Speaker 1: and that was actually with my my young daughters. Uh, 414 00:23:41,400 --> 00:23:44,000 Speaker 1: they're getting ready for the day to get rolling. And 415 00:23:44,560 --> 00:23:46,479 Speaker 1: it was one of I was working for a software company. 416 00:23:47,160 --> 00:23:49,399 Speaker 1: We had offices in New York and around the world, 417 00:23:49,520 --> 00:23:54,040 Speaker 1: and and of course everything stood still. And you know, 418 00:23:54,119 --> 00:23:57,760 Speaker 1: adn't get those who can remember back to that, those 419 00:23:57,960 --> 00:24:03,119 Speaker 1: those feelings, those motions of of understanding what was taking place, 420 00:24:03,280 --> 00:24:07,280 Speaker 1: understanding that things were going to be different, but also 421 00:24:07,359 --> 00:24:11,040 Speaker 1: that there were There's always that morning in America, there 422 00:24:11,200 --> 00:24:14,280 Speaker 1: is that next day, uh, and that's where we always 423 00:24:14,640 --> 00:24:18,000 Speaker 1: get that step forward, and Americans rise up and do 424 00:24:18,359 --> 00:24:21,240 Speaker 1: extraordinary things in the midst of a of a tragedy 425 00:24:21,680 --> 00:24:24,720 Speaker 1: and the morning after a tragedy. And to me, that's 426 00:24:24,760 --> 00:24:27,199 Speaker 1: what always gives me hope. And it reminds me too 427 00:24:27,359 --> 00:24:29,879 Speaker 1: that I think the word that we all need to 428 00:24:30,440 --> 00:24:32,840 Speaker 1: focus on a little bit more is the word remember. 429 00:24:32,960 --> 00:24:37,480 Speaker 1: I think our future depends on our ability to actually remember. 430 00:24:37,560 --> 00:24:40,320 Speaker 1: And I think the thing we should remember most is 431 00:24:40,400 --> 00:24:44,840 Speaker 1: that we honor best those who have gone before by 432 00:24:45,000 --> 00:24:48,600 Speaker 1: living our lives with excellence today. And that includes getting 433 00:24:48,680 --> 00:24:52,040 Speaker 1: rid of contempt. It includes treating each other, uh, not 434 00:24:52,280 --> 00:24:56,560 Speaker 1: as opposition, but as fellow citizens who may see things 435 00:24:56,560 --> 00:24:59,600 Speaker 1: a little differently. But we can elevate the conversation and 436 00:25:00,080 --> 00:25:02,960 Speaker 1: we can do the things that those who did passed away, 437 00:25:03,040 --> 00:25:07,320 Speaker 1: especially those in Pennsylvania who really gave that ultimate sacrifice 438 00:25:07,400 --> 00:25:11,080 Speaker 1: for I was struck by comments that uh the chairman 439 00:25:11,119 --> 00:25:13,640 Speaker 1: of the National Endowment for Humanities, John P. D. Maade, 440 00:25:13,680 --> 00:25:16,920 Speaker 1: earlier on this week on this program, when he discussed 441 00:25:16,960 --> 00:25:21,960 Speaker 1: about how when they were doing some remembering with veterans 442 00:25:22,119 --> 00:25:24,920 Speaker 1: in the military who have served in some horrible parts 443 00:25:25,040 --> 00:25:27,720 Speaker 1: all over the world fighting for freedom, UH and fighting 444 00:25:27,760 --> 00:25:30,840 Speaker 1: for Americans, and when they came back and they were 445 00:25:30,880 --> 00:25:34,960 Speaker 1: doing some writing programs to help the healing process for 446 00:25:35,040 --> 00:25:38,119 Speaker 1: these soldiers, they actually read them letters from the Civil 447 00:25:38,200 --> 00:25:41,200 Speaker 1: War of soldiers who wrote in the Civil War. And 448 00:25:41,400 --> 00:25:43,679 Speaker 1: I just said that thought today, I think of how 449 00:25:43,800 --> 00:25:48,600 Speaker 1: we remember that just all different sacrifices that have been 450 00:25:48,640 --> 00:25:51,479 Speaker 1: made is so incredibly important. I was all my way 451 00:25:51,520 --> 00:25:54,600 Speaker 1: to history class. I was the UH. I was in 452 00:25:54,680 --> 00:25:58,879 Speaker 1: the hallway at history class when students were uh Uh, 453 00:25:59,680 --> 00:26:02,920 Speaker 1: it's telling the news for lack of a better term, 454 00:26:03,640 --> 00:26:07,520 Speaker 1: that they had heard from from This was before cell 455 00:26:07,560 --> 00:26:10,440 Speaker 1: phones and whatnot in social media. So this was they 456 00:26:10,480 --> 00:26:13,359 Speaker 1: were hearing kids were getting pulled from class and so 457 00:26:13,520 --> 00:26:16,479 Speaker 1: that is how students had learned. And this was outside 458 00:26:16,480 --> 00:26:20,080 Speaker 1: of Philadelphia, but still a part where people do commute 459 00:26:20,119 --> 00:26:23,720 Speaker 1: to New York even even they're all right, now, let's 460 00:26:23,760 --> 00:26:26,720 Speaker 1: pivot to another big, big development today, and that of course, 461 00:26:26,920 --> 00:26:30,440 Speaker 1: is the fading chances of their being economic stimulus between 462 00:26:30,440 --> 00:26:33,600 Speaker 1: now and election day. This after yesterday the Senate failed 463 00:26:33,640 --> 00:26:36,600 Speaker 1: to pass UH the skinny version of the bill, and 464 00:26:36,680 --> 00:26:40,119 Speaker 1: now Senator Richard Shelby, a prominent Republican in the Senate 465 00:26:40,320 --> 00:26:44,399 Speaker 1: Senate of Alabama, has come out and said that, actually, folks, 466 00:26:44,480 --> 00:26:47,040 Speaker 1: that stimulus might not get done, might not get done 467 00:26:47,119 --> 00:26:50,040 Speaker 1: until after November three. Take a listen to what Larry 468 00:26:50,040 --> 00:26:54,280 Speaker 1: Cudlow had to say earlier today about the latest Senate 469 00:26:54,320 --> 00:26:57,639 Speaker 1: stimulus I see no reason why it couldn't have been passed, rankly, 470 00:26:57,960 --> 00:27:00,320 Speaker 1: because there's a lot of agreement on many of those issues. 471 00:27:01,080 --> 00:27:03,000 Speaker 1: So he says, there's a lot of agreement. Democrats, you're 472 00:27:03,000 --> 00:27:06,800 Speaker 1: saying there's not agreement boyd. I mean, is the stimulus needed? 473 00:27:06,840 --> 00:27:08,560 Speaker 1: I mean you you're out in the desert news. I 474 00:27:08,600 --> 00:27:10,399 Speaker 1: mean you've got your finger on the pulse of of 475 00:27:10,800 --> 00:27:14,520 Speaker 1: of where you know conservatives are outside of the cities. 476 00:27:15,160 --> 00:27:17,760 Speaker 1: Is it needed or is it will a skinny version 477 00:27:17,880 --> 00:27:23,000 Speaker 1: come after November three? Well, I don't see anything passing 478 00:27:23,119 --> 00:27:27,320 Speaker 1: before November three for for purely political purposes. And uh 479 00:27:27,440 --> 00:27:31,080 Speaker 1: and this is I'm gonna be an equal opportunity offender today. Uh. 480 00:27:31,240 --> 00:27:34,119 Speaker 1: This is a problem. This is a Democrat problem, this 481 00:27:34,240 --> 00:27:37,960 Speaker 1: is a Republican problem. Uh. And this is a classic 482 00:27:38,119 --> 00:27:41,800 Speaker 1: Washington d C. Fake fight and a false choice. Mitch 483 00:27:41,920 --> 00:27:44,320 Speaker 1: McConnell put forward a false choice of either we do 484 00:27:44,480 --> 00:27:46,879 Speaker 1: this or we don't care about small business and we 485 00:27:46,920 --> 00:27:49,119 Speaker 1: don't care about getting it out the Democrats in the 486 00:27:49,200 --> 00:27:51,560 Speaker 1: House that did the similar thing with the three trillion 487 00:27:51,640 --> 00:27:56,240 Speaker 1: dollar version. Uh, I can't understand why we keep doing 488 00:27:56,280 --> 00:27:58,320 Speaker 1: the same thing. And so this is also I'm gonna 489 00:27:58,680 --> 00:28:00,399 Speaker 1: I'm gonna really offend everybod. I'm gonna go to the 490 00:28:00,440 --> 00:28:03,680 Speaker 1: we the people uh that we keep we keep re 491 00:28:03,880 --> 00:28:08,640 Speaker 1: electing of incumbents are gonna win re election again this year. Uh. 492 00:28:08,840 --> 00:28:11,080 Speaker 1: And uh and I think that's the real thing. So 493 00:28:11,359 --> 00:28:13,040 Speaker 1: I think part of it is we have to reject 494 00:28:13,119 --> 00:28:15,920 Speaker 1: the fake fight and the false choice. I do think 495 00:28:16,000 --> 00:28:20,160 Speaker 1: doing things smaller, more laser focused is a good thing. 496 00:28:20,440 --> 00:28:22,119 Speaker 1: I think it's we need to get that as a 497 00:28:22,200 --> 00:28:25,080 Speaker 1: general rule in the House and the Senate that hey, 498 00:28:25,160 --> 00:28:28,760 Speaker 1: let's quit doing these big, comprehensive things. And let's remember 499 00:28:28,800 --> 00:28:31,919 Speaker 1: too that not all trillion dollars are created equal, uh, 500 00:28:32,000 --> 00:28:34,000 Speaker 1: and let's get to the things that actually matter, that 501 00:28:34,040 --> 00:28:36,679 Speaker 1: are germane to the bill or specific to the issue, 502 00:28:37,320 --> 00:28:39,200 Speaker 1: and let's do the right thing for the American people. 503 00:28:39,280 --> 00:28:41,400 Speaker 1: Nine eleven would have been a great day. Would have 504 00:28:41,440 --> 00:28:44,120 Speaker 1: been a great day for Mitch McConnell and Chuck Schumer 505 00:28:44,440 --> 00:28:48,840 Speaker 1: to stand on the steps and say, let's bring it together. Yeah. Hey, 506 00:28:48,960 --> 00:28:50,760 Speaker 1: you know, you talk about the one of the things 507 00:28:50,800 --> 00:28:52,360 Speaker 1: we didn't get to this week. It'll come up on 508 00:28:52,440 --> 00:28:54,880 Speaker 1: the show. But Ben Sass talking about term limit ideas. 509 00:28:55,040 --> 00:28:56,880 Speaker 1: We'll get to that. That's what you're talking about, term limits, 510 00:28:56,880 --> 00:28:59,680 Speaker 1: which are always popular and the polls. I'm Kevin Surreally here. 511 00:28:59,760 --> 00:29:15,600 Speaker 1: Listen in Bloomberg. This is Bloomberg Sound On with Kevin 512 00:29:15,720 --> 00:29:20,280 Speaker 1: Surle on Bloomberg and one or five point seven h 513 00:29:20,400 --> 00:29:24,960 Speaker 1: D two. I'm Kevin Surrel, chief Washington correspondent for Bloomberg 514 00:29:25,080 --> 00:29:28,280 Speaker 1: Television and from Bloomberg Radio. Ratings were down for the 515 00:29:28,400 --> 00:29:30,280 Speaker 1: NFL debut. I watched it and I stayed up and 516 00:29:30,320 --> 00:29:32,360 Speaker 1: watching Andy Raid couldn't win a Super Bowl with the 517 00:29:32,400 --> 00:29:35,200 Speaker 1: Eagles one one with the Kansas City Chiefs beat the 518 00:29:35,280 --> 00:29:39,320 Speaker 1: Houston Texans last night, but it was down. The ratings 519 00:29:39,360 --> 00:29:44,080 Speaker 1: were down. They attracted a far smaller TV audience than 520 00:29:44,160 --> 00:29:47,040 Speaker 1: a year ago. Held back, I'm reading from Jerry Smith 521 00:29:47,080 --> 00:29:49,960 Speaker 1: on the Bloomberg terminal, held back by a busy schedule 522 00:29:50,480 --> 00:29:53,480 Speaker 1: that included all major sports vying for viewers at the 523 00:29:53,560 --> 00:29:56,200 Speaker 1: same time because of the COVID nineteen to lay. Sixteen 524 00:29:56,240 --> 00:29:59,960 Speaker 1: point four million people watched last night's game between Andy 525 00:30:00,240 --> 00:30:05,760 Speaker 1: Chiefs and the Houston Texans on comcasts NBC Network, according 526 00:30:05,800 --> 00:30:10,120 Speaker 1: to the early Nielsen ratings. That's a sixteen percent dropped 527 00:30:10,160 --> 00:30:13,080 Speaker 1: from the opening game of last season. What was everybody 528 00:30:13,160 --> 00:30:16,640 Speaker 1: doing last night? What was what else was on? I'm 529 00:30:16,720 --> 00:30:19,680 Speaker 1: Kevin Cirelli, chief Washington correspondent f for Bloomberg Television and 530 00:30:19,760 --> 00:30:24,280 Speaker 1: from Bloomberg Radio. Boyd Matheson's with us our Republican insider, 531 00:30:24,880 --> 00:30:29,520 Speaker 1: Basil smigles with us. He is our Democratic insider. Basil, 532 00:30:29,600 --> 00:30:31,800 Speaker 1: I want to come back to this area of fiscal 533 00:30:31,880 --> 00:30:35,920 Speaker 1: stimulus just because it really increasingly looks like it's not 534 00:30:36,000 --> 00:30:40,640 Speaker 1: gonna happen between November three and now, but it could 535 00:30:40,760 --> 00:30:44,480 Speaker 1: happen in the lame Duck, just to walk us through 536 00:30:44,520 --> 00:30:47,320 Speaker 1: the process and not the politics of this, but the process. 537 00:30:49,520 --> 00:30:52,760 Speaker 1: Is it still likely that some fiscal stimulus will ultimately 538 00:30:52,840 --> 00:30:57,480 Speaker 1: get through? It is possible. I mean, I think that 539 00:30:58,360 --> 00:31:02,360 Speaker 1: both parties, you know and I in truth take board 540 00:31:02,600 --> 00:31:06,000 Speaker 1: points Um and and actually agree with what he's saying. 541 00:31:06,440 --> 00:31:10,080 Speaker 1: In terms of the politics around it. Uh, it's possible 542 00:31:10,160 --> 00:31:14,800 Speaker 1: that the politics could force Um some kind of decisions, 543 00:31:14,960 --> 00:31:18,280 Speaker 1: some kind of small as it says, something the skinny bill, 544 00:31:18,320 --> 00:31:21,760 Speaker 1: even though one a skinny or bill didn't ask, but 545 00:31:22,040 --> 00:31:31,800 Speaker 1: some small measure that provides voters Americans with some package 546 00:31:31,960 --> 00:31:39,280 Speaker 1: going into uh this fall, going into the election, It's possible. Uh, 547 00:31:39,480 --> 00:31:43,320 Speaker 1: there is going to be pressure put on on the leadership. 548 00:31:43,480 --> 00:31:46,920 Speaker 1: You know, Chuck Schumer talked about the package not being 549 00:31:46,960 --> 00:31:52,000 Speaker 1: able to support things like transportation and and other other 550 00:31:52,480 --> 00:31:54,960 Speaker 1: means that would be able to really get the economy 551 00:31:55,040 --> 00:31:58,560 Speaker 1: moving again. I take that. I get that some of 552 00:31:58,640 --> 00:32:02,920 Speaker 1: those issues may impacted other UH members of the Senate, 553 00:32:03,240 --> 00:32:05,880 Speaker 1: but the truth is I don't know that people outside 554 00:32:05,920 --> 00:32:07,760 Speaker 1: And to be honest with you, this kind of ties 555 00:32:07,840 --> 00:32:10,680 Speaker 1: into some points of its respect to the nine eleven 556 00:32:10,720 --> 00:32:13,760 Speaker 1: stimulus way back when, because there are a lot of 557 00:32:13,800 --> 00:32:16,360 Speaker 1: other folks outside of There are a lot of folks 558 00:32:16,400 --> 00:32:20,440 Speaker 1: outside of New York and areas that were directly affected 559 00:32:20,560 --> 00:32:25,120 Speaker 1: or most affected that may not understand why, you know, 560 00:32:25,920 --> 00:32:29,280 Speaker 1: our leaders are asking for the support and this money. Now, granted, 561 00:32:29,640 --> 00:32:33,680 Speaker 1: this pandemic has affected the entire country, but it clearly 562 00:32:33,720 --> 00:32:38,040 Speaker 1: affects certain geographies differently, and certain racial and ethnic groups differently. 563 00:32:38,280 --> 00:32:42,280 Speaker 1: And if and the part of the challenge is this 564 00:32:42,440 --> 00:32:44,959 Speaker 1: issue of incrementalism, which I just talked to my students 565 00:32:45,000 --> 00:32:48,760 Speaker 1: about on Wednesday. You know, we do not have this country. 566 00:32:49,040 --> 00:32:54,040 Speaker 1: Voters do not have tolerance for sweeping, radical pieces of legislation. 567 00:32:54,880 --> 00:32:58,080 Speaker 1: It's such a good point at if we can if 568 00:32:58,120 --> 00:33:01,560 Speaker 1: we can agree on some very small items to at 569 00:33:01,600 --> 00:33:04,360 Speaker 1: least get the ball moving, then I think we have 570 00:33:04,760 --> 00:33:08,080 Speaker 1: there's this ability to go back to voters and say 571 00:33:08,160 --> 00:33:11,480 Speaker 1: we did this, but right now, um, this even a 572 00:33:11,560 --> 00:33:16,400 Speaker 1: rejection of incrementalism is well. Even Ben Sass for a 573 00:33:16,560 --> 00:33:20,040 Speaker 1: Senator Ben Sass, Republican Nebraska. He writes this op ed 574 00:33:20,160 --> 00:33:23,719 Speaker 1: in the Journal earlier this week about proposing structural changes. 575 00:33:24,040 --> 00:33:26,840 Speaker 1: I mean the onsla they weren't even political. They were 576 00:33:26,880 --> 00:33:28,800 Speaker 1: just some ideas, you know, get rid of this, maybe 577 00:33:28,840 --> 00:33:31,200 Speaker 1: do this. There was you know, interesting things about term limits, 578 00:33:31,240 --> 00:33:35,760 Speaker 1: you know, and whatnot. But the onslaught of criticism that 579 00:33:35,920 --> 00:33:38,880 Speaker 1: the guy I Phace just for saying, trying to open 580 00:33:39,000 --> 00:33:43,440 Speaker 1: up a conversation, Boyd, I thought was remarkable. Uh, I 581 00:33:43,480 --> 00:33:45,520 Speaker 1: want to get your response to that before I take 582 00:33:45,640 --> 00:33:48,000 Speaker 1: us to the next topic. But this, but just to 583 00:33:48,360 --> 00:33:50,840 Speaker 1: that point that Bosl just made about incrementalism and a 584 00:33:50,920 --> 00:33:53,560 Speaker 1: theme that we've come on this show with is you know, 585 00:33:53,760 --> 00:33:56,640 Speaker 1: something like you know, China has the Communist Party of 586 00:33:56,760 --> 00:33:59,200 Speaker 1: China with their One Belt, one Road initiative. That's you know, 587 00:33:59,480 --> 00:34:02,720 Speaker 1: decades long. The US, of course, has been unable to 588 00:34:03,240 --> 00:34:07,560 Speaker 1: map out a nonpartisan, a political type of arrangement. Simply 589 00:34:07,680 --> 00:34:13,399 Speaker 1: to Basel's point, Boyd, about this issue pertaining to incrementalism. Yeah, 590 00:34:13,480 --> 00:34:17,000 Speaker 1: and Basil, now this right there in terms of how 591 00:34:17,120 --> 00:34:19,759 Speaker 1: we are approaching things, and now you have the extremes 592 00:34:19,840 --> 00:34:22,800 Speaker 1: on both the far right and the far left that 593 00:34:22,920 --> 00:34:25,120 Speaker 1: are preventing any kind of discussion. And this is the 594 00:34:25,200 --> 00:34:29,200 Speaker 1: interesting thing. When we get all the all said and done, 595 00:34:29,280 --> 00:34:31,240 Speaker 1: I think the group that's going to have the biggest 596 00:34:31,280 --> 00:34:33,960 Speaker 1: impact on what happens in November is going to be 597 00:34:34,040 --> 00:34:39,440 Speaker 1: this group. We're calling them the movable middle about they disconnected. 598 00:34:39,760 --> 00:34:43,399 Speaker 1: They've disconnected because they can't stand the polarization and all 599 00:34:43,560 --> 00:34:50,600 Speaker 1: the divisive rhetoric. Ye, no question, no question. And the 600 00:34:50,800 --> 00:34:53,480 Speaker 1: only thing that will get those voters to re engage 601 00:34:54,000 --> 00:34:59,440 Speaker 1: is to talk about community, compassion, self reliance, and opportunity 602 00:34:59,600 --> 00:35:03,160 Speaker 1: or upward mobility. And nobody's talking about that other than 603 00:35:03,200 --> 00:35:07,640 Speaker 1: Bozzel's talking about it in his class because he's got there. 604 00:35:07,880 --> 00:35:11,000 Speaker 1: But but but think about but think about that. I mean, 605 00:35:11,080 --> 00:35:12,520 Speaker 1: those are I happen to live in a place that 606 00:35:12,719 --> 00:35:14,480 Speaker 1: we do those things pretty well. We have a nice 607 00:35:14,560 --> 00:35:17,759 Speaker 1: free market economy and strong institutions of civil society, and 608 00:35:17,880 --> 00:35:21,040 Speaker 1: upward mobility is a real thing. Uh, people are involved 609 00:35:21,080 --> 00:35:26,040 Speaker 1: in the community and those are moving this. Yeah, you 610 00:35:26,120 --> 00:35:30,480 Speaker 1: should of those voters who I think will ultimately decided, 611 00:35:30,560 --> 00:35:32,920 Speaker 1: But neither party is talking to that, neither House of 612 00:35:32,960 --> 00:35:35,960 Speaker 1: Congress is talking to those issues. And if we get 613 00:35:36,000 --> 00:35:40,200 Speaker 1: an incrementalized bill like Bogel's talking about, UH, that would 614 00:35:40,200 --> 00:35:42,960 Speaker 1: get to those issues and those people would engage in 615 00:35:43,000 --> 00:35:45,840 Speaker 1: the political process again, and that would be good for 616 00:35:45,920 --> 00:35:47,680 Speaker 1: the country. All right, boy, And I know you've got 617 00:35:47,800 --> 00:35:49,680 Speaker 1: to run after, but I do want to just get 618 00:35:49,760 --> 00:35:51,360 Speaker 1: your thoughts on this, and I'm gonna come back to 619 00:35:51,440 --> 00:35:54,600 Speaker 1: it because coming up for checking in with Congressman Caroline Maloney, 620 00:35:54,640 --> 00:35:57,719 Speaker 1: a Democrat from New York, and important folks conversation on 621 00:35:57,960 --> 00:36:01,000 Speaker 1: US China attentions and UH and and where the fiscal 622 00:36:01,040 --> 00:36:04,960 Speaker 1: stimulus is headed. But you know, the California governor has 623 00:36:05,000 --> 00:36:09,160 Speaker 1: said this is a damn climate emergency, referring to the wildfires. 624 00:36:09,560 --> 00:36:12,800 Speaker 1: A thousand miles sheet of smoke is driving air quality 625 00:36:12,840 --> 00:36:15,600 Speaker 1: to dangerous levels, Gavin Newsom saying that this is a 626 00:36:15,800 --> 00:36:20,480 Speaker 1: damn climate emergency and it's real. The images that have 627 00:36:20,760 --> 00:36:24,440 Speaker 1: ravaged the social media and ricocheted across the front pages 628 00:36:24,760 --> 00:36:27,919 Speaker 1: of the nation's newspapers now as more than three point 629 00:36:28,040 --> 00:36:31,800 Speaker 1: one million acres in California and one point four million 630 00:36:31,920 --> 00:36:38,800 Speaker 1: acres in Washington and Oregon is really really horrible. Very quickly, 631 00:36:39,200 --> 00:36:42,120 Speaker 1: do you think Republicans. At some point, BOYD, are going 632 00:36:42,239 --> 00:36:44,640 Speaker 1: to have to to talk about this, and you only 633 00:36:44,719 --> 00:36:49,120 Speaker 1: have like fifteen seconds. Uh, the answer is yes, everybody's 634 00:36:49,160 --> 00:36:55,640 Speaker 1: got to talk about it, climate change, Boyd staying, Basil leaving, 635 00:36:55,680 --> 00:36:58,560 Speaker 1: Professor Basil has got to go back to teach its class. Basil, 636 00:36:59,040 --> 00:37:01,200 Speaker 1: thank you. Iologize. I would have given you the last 637 00:37:01,200 --> 00:37:03,360 Speaker 1: word there, but Boz will come back anytime. Bozzles Michael 638 00:37:03,680 --> 00:37:06,600 Speaker 1: uh More coming up next to Congresswoman Carolin Maloney. I'm 639 00:37:06,640 --> 00:37:12,759 Speaker 1: Kevin Sirley's Bloomberg ninety nine one. You're listening to Bloomberg 640 00:37:12,920 --> 00:37:16,960 Speaker 1: Sound On with Kevin Surrel on Bloomberg and one oh 641 00:37:17,080 --> 00:37:20,160 Speaker 1: five points seven m h D two. I'm Kevin CERELI. 642 00:37:20,200 --> 00:37:22,920 Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for 643 00:37:23,000 --> 00:37:26,240 Speaker 1: Bloomberg Radio. My next guest friend of the program. Always 644 00:37:26,480 --> 00:37:28,719 Speaker 1: a privilege on a treat to talk to her, Congresswoman 645 00:37:28,760 --> 00:37:32,720 Speaker 1: Caroline Maloney, Democrat from New York. She represents New York's 646 00:37:32,719 --> 00:37:36,120 Speaker 1: twelfth Congressional district. Congresswoman, you know, on a day like 647 00:37:36,239 --> 00:37:40,800 Speaker 1: today when we remember nine eleven, I just what do 648 00:37:40,960 --> 00:37:44,400 Speaker 1: you what do you go through on nine eleven and 649 00:37:44,680 --> 00:37:48,719 Speaker 1: what what goes through your your memory during a day 650 00:37:48,760 --> 00:37:51,320 Speaker 1: like today, because I can remember pre COVID when I 651 00:37:51,400 --> 00:37:53,239 Speaker 1: would interview you in the halls of Congress and you 652 00:37:53,280 --> 00:37:57,680 Speaker 1: always have your f D N Y jacket on to 653 00:37:57,920 --> 00:38:01,120 Speaker 1: try to get some assistance for for the nine eleven 654 00:38:01,160 --> 00:38:03,279 Speaker 1: families and for the firefighters. And I know this is 655 00:38:03,400 --> 00:38:08,640 Speaker 1: literally a day that you wear on your sleeves every 656 00:38:08,680 --> 00:38:12,480 Speaker 1: single day. Well, and I had the fire code on 657 00:38:12,600 --> 00:38:16,200 Speaker 1: a gain as I went down to down to the site, 658 00:38:16,280 --> 00:38:19,719 Speaker 1: to the to the museum site, the memorial site. It 659 00:38:19,920 --> 00:38:26,920 Speaker 1: was a a form of remembering and showing respect and remembering. 660 00:38:27,040 --> 00:38:30,160 Speaker 1: It's a type of meeting. And I must tell you, Kevin, 661 00:38:30,840 --> 00:38:34,279 Speaker 1: everyone in political leadership in our great city and state 662 00:38:34,400 --> 00:38:38,400 Speaker 1: and even from New Jersey were there to uh really 663 00:38:38,520 --> 00:38:41,960 Speaker 1: show their respects as the names of the fallen we're 664 00:38:42,080 --> 00:38:46,600 Speaker 1: we're we're called uh. Mayor former Mayor Bloomberg was there 665 00:38:46,680 --> 00:38:50,560 Speaker 1: along with mare To Blasio and Governor Cuomo and and 666 00:38:51,120 --> 00:38:55,160 Speaker 1: a vice President Biden honored us with his presence with 667 00:38:55,360 --> 00:39:00,320 Speaker 1: his wife Jill, showing their respects and their remembrance, along 668 00:39:00,400 --> 00:39:04,480 Speaker 1: with practically every elected official from the city and state level. 669 00:39:04,960 --> 00:39:07,600 Speaker 1: But most moving of all was the families that were 670 00:39:07,680 --> 00:39:13,080 Speaker 1: there with photographs of their their their relatives, their brother 671 00:39:13,280 --> 00:39:16,800 Speaker 1: their their father. I was particularly moved by a woman 672 00:39:17,400 --> 00:39:20,200 Speaker 1: who had drawn a chair right up next to the 673 00:39:20,280 --> 00:39:24,719 Speaker 1: memorial and held a picture of her daughter and had 674 00:39:24,800 --> 00:39:28,080 Speaker 1: her name, had her hand on the name that was 675 00:39:28,760 --> 00:39:33,200 Speaker 1: written into the wall of remembrance, being close to her, 676 00:39:33,480 --> 00:39:37,440 Speaker 1: just holding onto her name. It was deeply, deeply moving. 677 00:39:37,880 --> 00:39:41,919 Speaker 1: It's always deeply moving. But I'm proud of the way 678 00:39:42,120 --> 00:39:45,040 Speaker 1: the city rebuilt, and I'm proud of the role that 679 00:39:45,239 --> 00:39:49,319 Speaker 1: I played and so many others did and making that happen. Uh. 680 00:39:49,840 --> 00:39:51,759 Speaker 1: One of the things that I'm working on now is 681 00:39:51,840 --> 00:39:57,760 Speaker 1: the pandemic risk insurance for business disruption for pandemics going forward. 682 00:39:58,440 --> 00:40:02,000 Speaker 1: But the idea came out of nine eleven. After nine eleven, 683 00:40:02,080 --> 00:40:06,840 Speaker 1: we couldn't rebuild terrorism insurance. And then and then we 684 00:40:06,960 --> 00:40:09,440 Speaker 1: finally got tree of the anti terrorism risk insurance that 685 00:40:09,560 --> 00:40:12,799 Speaker 1: allowed us to rebuild I mean, I mean, yeah, let 686 00:40:12,840 --> 00:40:14,520 Speaker 1: me let me pick up on this, because this is 687 00:40:14,680 --> 00:40:19,000 Speaker 1: so fascinating to me that the insurance for for so 688 00:40:19,120 --> 00:40:24,200 Speaker 1: many small businesses that have just been absolutely shuttered. Another 689 00:40:24,280 --> 00:40:27,200 Speaker 1: one that that really resonated here in Washington. Capital Lounge 690 00:40:27,600 --> 00:40:30,640 Speaker 1: just the restaurants and all these businesses having to close 691 00:40:30,719 --> 00:40:33,800 Speaker 1: their doors not being able to have pandemic insurance. And 692 00:40:33,920 --> 00:40:36,800 Speaker 1: that was something that was a huge conversation that didn't 693 00:40:36,840 --> 00:40:40,400 Speaker 1: exist prior to nine eleven. Terrorism risk insurance. Are you 694 00:40:40,640 --> 00:40:44,120 Speaker 1: are you bullish? Are you bullish that that this could 695 00:40:44,120 --> 00:40:46,960 Speaker 1: be created, that Republicans and Democrats can finally agree on 696 00:40:47,160 --> 00:40:49,720 Speaker 1: something to to help so many of these small bass 697 00:40:49,800 --> 00:40:53,560 Speaker 1: we did. We will come together on this because it's 698 00:40:53,640 --> 00:40:57,680 Speaker 1: needed and we can prepare for it. I would say 699 00:40:57,800 --> 00:41:00,880 Speaker 1: that if you have a national disaster light nine eleven 700 00:41:01,320 --> 00:41:03,480 Speaker 1: or the pandemic, of course government is going to come 701 00:41:03,520 --> 00:41:07,040 Speaker 1: in and help, but if you can formulate a plan 702 00:41:07,280 --> 00:41:11,040 Speaker 1: in advances, it just works better. It's fair. It's a 703 00:41:11,160 --> 00:41:15,960 Speaker 1: public private UH partnership. Um Tree. I think it's one 704 00:41:15,960 --> 00:41:18,640 Speaker 1: of the most important bills I've ever authored, and also 705 00:41:18,760 --> 00:41:22,080 Speaker 1: the remembrance of the nine eleven heroes. After nine eleven, 706 00:41:22,960 --> 00:41:25,920 Speaker 1: I've never seen our country more united and determined. We 707 00:41:26,040 --> 00:41:29,480 Speaker 1: passed a number of bills to protect our people and 708 00:41:29,920 --> 00:41:33,320 Speaker 1: to make us stronger and create his homeland security. We 709 00:41:33,400 --> 00:41:35,960 Speaker 1: did all kinds of things to make ourselves stronger, but 710 00:41:36,120 --> 00:41:40,520 Speaker 1: we did not cover the health benefits and compensations for 711 00:41:40,600 --> 00:41:44,160 Speaker 1: the heroes and heroines who rushed into burning buildings to 712 00:41:44,239 --> 00:41:47,080 Speaker 1: save the lives of other And I'll tell you, Kevin, 713 00:41:47,200 --> 00:41:51,640 Speaker 1: we lost almost three thousand people on nine eleven, but 714 00:41:52,040 --> 00:41:56,840 Speaker 1: we lost thousands and thousands more afterwards because they worked 715 00:41:56,920 --> 00:41:59,360 Speaker 1: on the pile. They were told it was safe. It 716 00:41:59,480 --> 00:42:02,719 Speaker 1: was not faith. Many of them have died, many are 717 00:42:02,840 --> 00:42:05,480 Speaker 1: sick and dying, and we have to be there and 718 00:42:05,560 --> 00:42:09,160 Speaker 1: give them the support they so justly deserve to be. 719 00:42:09,280 --> 00:42:12,840 Speaker 1: It's always an emotional day. Of course, during that time 720 00:42:13,760 --> 00:42:17,239 Speaker 1: it was very Uh. Every time I would go down there, 721 00:42:17,280 --> 00:42:19,719 Speaker 1: I'd end up in tears. And every time I think 722 00:42:19,760 --> 00:42:23,200 Speaker 1: I'm over it, I go back to another another anniversary 723 00:42:23,360 --> 00:42:28,040 Speaker 1: or remembrance and you can't help but for what happened well, 724 00:42:28,080 --> 00:42:31,560 Speaker 1: and I think that no outrageous, Kevin. Is all those 725 00:42:31,640 --> 00:42:33,680 Speaker 1: people that were killed, all they did was get up 726 00:42:33,719 --> 00:42:35,719 Speaker 1: and go to work, which we do every day, which 727 00:42:35,760 --> 00:42:38,880 Speaker 1: you did do today, and they do it just because 728 00:42:38,960 --> 00:42:43,040 Speaker 1: they were Americans. It's outrageous and uh. And the response 729 00:42:43,120 --> 00:42:45,560 Speaker 1: of our country to take care of them was so 730 00:42:45,840 --> 00:42:48,400 Speaker 1: greatly appreciated. And grief is not something that you can 731 00:42:48,440 --> 00:42:50,200 Speaker 1: just get over and put behind you. It's something that 732 00:42:50,280 --> 00:42:52,440 Speaker 1: you have to live with and you have to carry 733 00:42:52,520 --> 00:42:54,759 Speaker 1: it in different ways as you go through life. I mean, 734 00:42:55,120 --> 00:42:56,840 Speaker 1: and it's not something that you can just let go of. 735 00:42:57,040 --> 00:42:59,680 Speaker 1: You have to choose every day to shift it somewhere. 736 00:42:59,760 --> 00:43:01,680 Speaker 1: Kind are someone Caroline Maloney's on the line. She's a 737 00:43:01,719 --> 00:43:05,880 Speaker 1: Democrat from New York representing New York's twelfth congressional district. 738 00:43:06,160 --> 00:43:08,520 Speaker 1: I want to talk to you. You talk about just 739 00:43:08,600 --> 00:43:11,080 Speaker 1: the families of nine eleven and and all of us 740 00:43:11,120 --> 00:43:14,160 Speaker 1: are just so struck by the first the first responders 741 00:43:14,719 --> 00:43:17,279 Speaker 1: dealing with the pandemic. I mean, in so many of 742 00:43:17,360 --> 00:43:20,440 Speaker 1: our of our hospital workers are nurses and and you 743 00:43:20,520 --> 00:43:23,600 Speaker 1: know folks, delivery workers, you know, on the front lines 744 00:43:23,680 --> 00:43:27,520 Speaker 1: of human interaction and in in these uh places all 745 00:43:27,600 --> 00:43:30,600 Speaker 1: over the country. They didn't sign up for this, they 746 00:43:30,640 --> 00:43:32,600 Speaker 1: didn't sign up to to do this. And they're all 747 00:43:32,680 --> 00:43:35,279 Speaker 1: political stripes and not just you know, this isn't Democrats 748 00:43:35,360 --> 00:43:38,240 Speaker 1: or Republicans. I mean, this is people of all political stripes. 749 00:43:38,360 --> 00:43:41,439 Speaker 1: They didn't sign up for to not have the gear 750 00:43:41,520 --> 00:43:45,279 Speaker 1: and whatnot. So it's it's really I think important that 751 00:43:45,840 --> 00:43:49,160 Speaker 1: these structural conversations be having as it relates to insurance 752 00:43:49,600 --> 00:43:51,840 Speaker 1: and whatnot. I want to talk to you about a 753 00:43:51,880 --> 00:43:54,960 Speaker 1: story that I broke earlier this week, Congresswoman, about how 754 00:43:55,040 --> 00:43:58,720 Speaker 1: the State's Apartment was the the administration rather not necessarily 755 00:43:58,760 --> 00:44:01,759 Speaker 1: State Apartment the depart and of Homeland Security. More precisely, 756 00:44:02,040 --> 00:44:04,640 Speaker 1: let me be very precise, the Department of Homeland Security 757 00:44:05,160 --> 00:44:08,799 Speaker 1: is looking into restricting some cotton imports from the shin 758 00:44:08,920 --> 00:44:14,600 Speaker 1: Chang region. Fashion is an incredibly important industry in your district, 759 00:44:15,160 --> 00:44:18,160 Speaker 1: and China, of course always on your mind as well. 760 00:44:18,880 --> 00:44:21,680 Speaker 1: I'm curious what you think the right approach should be 761 00:44:22,280 --> 00:44:29,200 Speaker 1: in dealing with China, UH and and their rise. Well, 762 00:44:29,239 --> 00:44:33,239 Speaker 1: there's that's a big question. And I think that we 763 00:44:33,360 --> 00:44:38,640 Speaker 1: are stronger if we work together um as and as 764 00:44:38,719 --> 00:44:42,600 Speaker 1: we did after the financial crisis. China was a very 765 00:44:42,680 --> 00:44:47,440 Speaker 1: positive partner and helping us to stabilize our economy and 766 00:44:47,480 --> 00:44:50,759 Speaker 1: the world economy. But we can't let them take advantage 767 00:44:50,800 --> 00:44:53,759 Speaker 1: of us and trade deals. They have to be fair 768 00:44:53,920 --> 00:44:59,320 Speaker 1: to American workers and UH I support strong trade deals 769 00:44:59,520 --> 00:45:03,239 Speaker 1: that tech American workers in American rights. This is a 770 00:45:03,360 --> 00:45:06,160 Speaker 1: bigger issue. But I do want to come back to 771 00:45:06,280 --> 00:45:09,839 Speaker 1: your theme of of the essential workers. My favorite day 772 00:45:10,080 --> 00:45:12,600 Speaker 1: part of the days at seven o'clock when everybody starts 773 00:45:12,680 --> 00:45:20,000 Speaker 1: tapping for the front line workers for nine eleven, and 774 00:45:20,160 --> 00:45:22,480 Speaker 1: I've done an essential workers bill. I'd love to come 775 00:45:22,520 --> 00:45:29,160 Speaker 1: back on your program and talk about And I know, 776 00:45:29,480 --> 00:45:32,879 Speaker 1: if you have water, feel free to grab a cup 777 00:45:32,960 --> 00:45:35,920 Speaker 1: of water. But uh, but just to pick up on 778 00:45:36,040 --> 00:45:38,399 Speaker 1: this point, corners something Caroline Maloney's on with us. She's 779 00:45:38,400 --> 00:45:41,760 Speaker 1: a Democrat from New York. She represents New York's twelfth 780 00:45:42,160 --> 00:45:45,560 Speaker 1: congressional District DOT. And but go ahead, if you wanted 781 00:45:45,719 --> 00:45:48,960 Speaker 1: to to finish that thought, well, I just like I 782 00:45:49,000 --> 00:45:52,200 Speaker 1: did the nine eleven health compensation, I did one for 783 00:45:52,320 --> 00:45:56,799 Speaker 1: the essential workers that are on the front line. Whether 784 00:45:56,920 --> 00:46:02,360 Speaker 1: it's the healthcare workers or transportation workers, they're among the 785 00:46:02,440 --> 00:46:05,320 Speaker 1: ones that became the sickest, everybody on the front lines 786 00:46:05,480 --> 00:46:08,640 Speaker 1: that had to work to provide services to help all 787 00:46:08,680 --> 00:46:13,440 Speaker 1: of us through this pandemic. Also, remember the trouble we 788 00:46:13,600 --> 00:46:17,480 Speaker 1: had in getting a personal protective equipment. I put in 789 00:46:17,560 --> 00:46:19,920 Speaker 1: a bill and then we started making it. You talk 790 00:46:19,960 --> 00:46:23,280 Speaker 1: about fashion, and they are big employers in my district, 791 00:46:23,360 --> 00:46:26,200 Speaker 1: in our city, and this is fashion week. We're writing 792 00:46:26,280 --> 00:46:29,640 Speaker 1: it right now, and I have a fashion advisory committee. 793 00:46:29,680 --> 00:46:32,759 Speaker 1: We got together and decided we would just work on 794 00:46:33,640 --> 00:46:37,200 Speaker 1: uh sewing masks and gowns and foot gear and head 795 00:46:37,239 --> 00:46:39,920 Speaker 1: gear for our hospitals because he couldn't get it. And 796 00:46:40,040 --> 00:46:44,360 Speaker 1: I believe we should keep some of that work domestic, 797 00:46:44,520 --> 00:46:48,200 Speaker 1: We should produce it domestically. So I put in a 798 00:46:48,280 --> 00:46:53,200 Speaker 1: bill that of our strategic national spot pile should be 799 00:46:53,719 --> 00:46:57,000 Speaker 1: made in America so that we're never caught in that 800 00:46:57,160 --> 00:47:00,960 Speaker 1: situation again where our healthcare workers go to work with 801 00:47:01,080 --> 00:47:05,239 Speaker 1: garbage bags. It's yeah, it's it's just it's incredibly, incredibly 802 00:47:05,320 --> 00:47:09,040 Speaker 1: disheartening to see some of the conditions that folks were 803 00:47:09,080 --> 00:47:11,000 Speaker 1: having to work in. All Right, lastly, before I let 804 00:47:11,040 --> 00:47:12,759 Speaker 1: you go on this Friday and you get to enjoy 805 00:47:12,800 --> 00:47:15,120 Speaker 1: your weekend. First of all, thanks so much, Congressman Carolina Maloney. 806 00:47:15,360 --> 00:47:17,680 Speaker 1: But I know you are on the front lines of 807 00:47:17,719 --> 00:47:20,760 Speaker 1: the battle as it relates to the US Postal Service, 808 00:47:20,960 --> 00:47:24,200 Speaker 1: and UH lewis to joy and all of the hearings 809 00:47:24,280 --> 00:47:26,160 Speaker 1: that have been going on on that front. Are you 810 00:47:26,280 --> 00:47:29,320 Speaker 1: confident that the US Postal Service is going to be 811 00:47:29,600 --> 00:47:34,839 Speaker 1: adequately prepared for the increase in mail in ballots? Uh? 812 00:47:35,000 --> 00:47:37,239 Speaker 1: And are you confident that this is going to be 813 00:47:37,400 --> 00:47:42,480 Speaker 1: a free and fair election. Congresswoman, well, I don't know 814 00:47:42,600 --> 00:47:45,879 Speaker 1: of any fraud that has been exposed anywhere. They keep 815 00:47:45,920 --> 00:47:47,879 Speaker 1: saying it's there, but they never seem to be able 816 00:47:47,920 --> 00:47:50,319 Speaker 1: to find it. And we know that more people are 817 00:47:50,360 --> 00:47:54,480 Speaker 1: going to be voting by mail because of the COVID crisis. UM, 818 00:47:54,880 --> 00:47:58,760 Speaker 1: it's a very important that we prepare as much as possible. 819 00:47:59,360 --> 00:48:03,440 Speaker 1: I had all that I authored that would fund the 820 00:48:03,520 --> 00:48:06,239 Speaker 1: Post Office at b In, which is what the Board 821 00:48:06,239 --> 00:48:10,080 Speaker 1: of Governor says is needed, and to also reverse the 822 00:48:10,200 --> 00:48:14,400 Speaker 1: damaging actions that the Postmaster General de Joy has taken 823 00:48:14,840 --> 00:48:18,680 Speaker 1: to slow down the mail. We started getting all kinds 824 00:48:18,760 --> 00:48:21,399 Speaker 1: of report so that the mail was being slowed down. 825 00:48:21,480 --> 00:48:25,560 Speaker 1: We had a hearing and the speaker called back Congress. 826 00:48:25,600 --> 00:48:27,800 Speaker 1: It's I've never seen this in my life. Time happened. 827 00:48:28,160 --> 00:48:30,840 Speaker 1: Congress was called back in on a Saturday for an 828 00:48:30,880 --> 00:48:35,439 Speaker 1: emergency vote on my bill called Delivering for America, which 829 00:48:35,520 --> 00:48:39,480 Speaker 1: funded the Post Office and reversed the harmful actions that 830 00:48:39,600 --> 00:48:43,040 Speaker 1: he had taken to slow down the mail. It's particularly 831 00:48:43,160 --> 00:48:46,279 Speaker 1: horrible in the middle of a pandemic and and right 832 00:48:46,360 --> 00:48:50,239 Speaker 1: before an important election. So this would stop any of 833 00:48:50,360 --> 00:48:55,680 Speaker 1: those changes and restore the damage until after the election. Uh, 834 00:48:56,160 --> 00:49:00,280 Speaker 1: and after the COVID crisis, so out of that areing 835 00:49:00,400 --> 00:49:04,719 Speaker 1: came all kinds of allegations and other areas. And that's 836 00:49:04,719 --> 00:49:07,279 Speaker 1: another conversation for another day. I'd love to come back 837 00:49:07,360 --> 00:49:10,320 Speaker 1: on your show, Kevin, but I think tonight and today 838 00:49:10,960 --> 00:49:14,279 Speaker 1: we should remember the brave men and women and the 839 00:49:14,400 --> 00:49:18,360 Speaker 1: innocent of Americans. What struck me as Uh, it was 840 00:49:18,480 --> 00:49:22,120 Speaker 1: so cruel to think that all they did was go 841 00:49:22,239 --> 00:49:25,560 Speaker 1: to work and they were killed. All other attacks have 842 00:49:25,680 --> 00:49:29,200 Speaker 1: always been sort of military, military bases, you know, a war. 843 00:49:29,800 --> 00:49:34,480 Speaker 1: This was just murdering innocent Americans. It's just outrageous, beyond belief. 844 00:49:35,320 --> 00:49:39,640 Speaker 1: And uh, New York it was a month our finest hour. 845 00:49:39,920 --> 00:49:44,239 Speaker 1: I've never seen New Yorkers more determined and uh more 846 00:49:45,360 --> 00:49:49,799 Speaker 1: coming together uh and uh in support of helping each 847 00:49:49,840 --> 00:49:54,040 Speaker 1: other and helping to rebuild. Oh gosh, there's so many stories. 848 00:49:54,239 --> 00:49:58,000 Speaker 1: And to see the families there with the pictures of 849 00:49:58,080 --> 00:50:03,200 Speaker 1: their loved ones showing their respect and seeing the sacrifice 850 00:50:03,320 --> 00:50:07,799 Speaker 1: that their families have given because of this, and our 851 00:50:08,160 --> 00:50:13,839 Speaker 1: and our firefighters particularly we lost fire firefighters on that day. 852 00:50:14,640 --> 00:50:17,719 Speaker 1: And uh, and because they worked on the pile, they 853 00:50:17,840 --> 00:50:20,680 Speaker 1: have been among the thickest So that's why I always 854 00:50:20,719 --> 00:50:25,480 Speaker 1: wear the fire coat when I was always but I'm serious, 855 00:50:25,560 --> 00:50:27,760 Speaker 1: it's because even I mean, I was in middle school 856 00:50:27,840 --> 00:50:31,360 Speaker 1: when eleven happened, and and and just you know, the 857 00:50:32,480 --> 00:50:34,759 Speaker 1: New York really was a role model. It was the 858 00:50:34,840 --> 00:50:38,640 Speaker 1: leadership of New York of all political stripes, but it 859 00:50:38,840 --> 00:50:42,440 Speaker 1: was the public servants that that really were a role model. 860 00:50:42,520 --> 00:50:45,400 Speaker 1: And and obviously the firefighters and and what and and 861 00:50:45,840 --> 00:50:48,279 Speaker 1: that stays with you. So when you see someone as 862 00:50:48,320 --> 00:50:52,600 Speaker 1: a journalist, you know, an upstart just chasing someone you 863 00:50:52,680 --> 00:50:54,799 Speaker 1: know in the halls of Congress, and there's a congresswoman 864 00:50:54,840 --> 00:50:59,120 Speaker 1: with an f d N y UH jacket on, even 865 00:50:59,160 --> 00:51:02,160 Speaker 1: in the dog day the summer, You're thinking to yourself. 866 00:51:07,719 --> 00:51:09,560 Speaker 1: And I was honored they gave it to It is 867 00:51:09,680 --> 00:51:12,480 Speaker 1: my most prized possession. I love it. It's a symbol 868 00:51:12,600 --> 00:51:16,480 Speaker 1: of the unity we felt. But in a way during COVID, 869 00:51:16,520 --> 00:51:18,520 Speaker 1: I think New York was a leader to the nation. 870 00:51:18,680 --> 00:51:21,960 Speaker 1: We were the epicenter. We learned how to combat it 871 00:51:22,120 --> 00:51:25,200 Speaker 1: in many ways, and and we came out of it. 872 00:51:25,360 --> 00:51:28,640 Speaker 1: Now are our infection rate is the low one percent. 873 00:51:28,719 --> 00:51:31,600 Speaker 1: I'm proud of New York and I don't really I 874 00:51:31,640 --> 00:51:33,600 Speaker 1: don't think a lot of people people realize how much 875 00:51:34,560 --> 00:51:37,000 Speaker 1: how much research is taking place in New York because 876 00:51:37,040 --> 00:51:41,480 Speaker 1: we had so many hospitals and so many patients. This 877 00:51:41,760 --> 00:51:45,759 Speaker 1: research with vaccines and treatments are taking place right in 878 00:51:45,800 --> 00:51:48,279 Speaker 1: our great city. Well, and I hope and I hope 879 00:51:48,320 --> 00:51:52,719 Speaker 1: that that that the scientists, American scientists in particular, will 880 00:51:52,719 --> 00:51:55,640 Speaker 1: be celebrated for all of the contributions that they've made. 881 00:51:55,640 --> 00:51:57,799 Speaker 1: All right, congress Someone Carolin Maloney, I don't want your 882 00:51:57,800 --> 00:51:59,080 Speaker 1: stuff to get mad at me. I know I've kept 883 00:51:59,160 --> 00:52:01,799 Speaker 1: you way past time on a Friday. She, of course, 884 00:52:01,920 --> 00:52:04,960 Speaker 1: is the Democrat from New York representing New York's twelfth 885 00:52:05,120 --> 00:52:08,399 Speaker 1: congressional district. Just to reset here, my name is Kevin 886 00:52:08,480 --> 00:52:12,200 Speaker 1: CURRELLI I'm the chief Washington correspondent from Bloomberg Television and 887 00:52:12,440 --> 00:52:16,160 Speaker 1: for Bloomberg Radio. We're remembering, of course, nine eleven. I 888 00:52:16,239 --> 00:52:18,759 Speaker 1: want to welcome back to the program Boyd Matheson. He 889 00:52:18,880 --> 00:52:21,040 Speaker 1: is the former chief of staff for Senator Mike Lee. 890 00:52:21,080 --> 00:52:25,000 Speaker 1: He is an opinion editor of the Desirette News. Right now, Uh, 891 00:52:25,120 --> 00:52:28,000 Speaker 1: you know, Boyd, I want to get your your reactions. 892 00:52:28,160 --> 00:52:31,320 Speaker 1: It's a Congressman Maloney, because I didn't even think of 893 00:52:31,440 --> 00:52:34,800 Speaker 1: pandemic insurance, you know, I mean we're here at Bloomberg. 894 00:52:34,840 --> 00:52:36,600 Speaker 1: I mean, of course this is right up our alley. 895 00:52:36,640 --> 00:52:40,640 Speaker 1: But from a business angle perspective, it's it would be 896 00:52:40,719 --> 00:52:43,400 Speaker 1: on heard of not to have TRIA these days. Terrorism 897 00:52:43,520 --> 00:52:46,800 Speaker 1: Risk Insurance Act TRIA. You know that that of course, 898 00:52:46,880 --> 00:52:51,200 Speaker 1: has been so incredibly important to not just to two 899 00:52:51,280 --> 00:52:54,520 Speaker 1: cities and skyscrapers, but you think of stadiums across the 900 00:52:54,600 --> 00:52:57,880 Speaker 1: country and whatnot, and the liability that comes with that 901 00:52:58,040 --> 00:53:01,080 Speaker 1: type of insurance. Think of how how many businesses could 902 00:53:01,120 --> 00:53:03,759 Speaker 1: have been saved. Think of the financial fiscal mess that 903 00:53:03,840 --> 00:53:05,719 Speaker 1: we might have been able to just a fraction have 904 00:53:05,800 --> 00:53:11,279 Speaker 1: avoided if there was some pandemic insurance market in the marketplace, 905 00:53:11,360 --> 00:53:15,200 Speaker 1: that public private partnership. Boyd. Yeah, And I think you 906 00:53:15,320 --> 00:53:17,040 Speaker 1: hit it right at the end there. It's the it's 907 00:53:17,080 --> 00:53:19,920 Speaker 1: the public private partnership. It's the key to to all 908 00:53:20,000 --> 00:53:23,520 Speaker 1: of that. And yeah, you look especially at those small businesses, 909 00:53:23,600 --> 00:53:27,360 Speaker 1: the medium sized businesses that really took the brunt of 910 00:53:27,760 --> 00:53:30,600 Speaker 1: so much of the pandemic. If they had had something, 911 00:53:30,960 --> 00:53:34,320 Speaker 1: then the interesting thing about that is they would have 912 00:53:34,440 --> 00:53:38,920 Speaker 1: prevented everyone hanging on Congress to do the right thing 913 00:53:39,000 --> 00:53:41,560 Speaker 1: at the right time, and so I would much I 914 00:53:41,600 --> 00:53:43,920 Speaker 1: would have much more trust and confidence that hey, I've 915 00:53:43,960 --> 00:53:47,240 Speaker 1: got this kind of insurance for my business. The market's 916 00:53:47,280 --> 00:53:48,600 Speaker 1: going to take care of that, and that's going to 917 00:53:48,680 --> 00:53:50,360 Speaker 1: be in place for me. So I'm good to go 918 00:53:50,560 --> 00:53:53,600 Speaker 1: as opposed to, you know, worrying about whether the you know, 919 00:53:53,680 --> 00:53:58,200 Speaker 1: the four person law firm of Pelosi, McConnell, McCarthy and 920 00:53:58,360 --> 00:54:00,600 Speaker 1: Schumer are going to get the job and in the end, 921 00:54:01,400 --> 00:54:05,600 Speaker 1: and I'd take the private sector their six ways to Sunday. Well, 922 00:54:05,760 --> 00:54:08,560 Speaker 1: that well, what I don't understand is in terms of this, 923 00:54:08,680 --> 00:54:11,160 Speaker 1: to come back to this this notion I mean, and 924 00:54:11,239 --> 00:54:15,200 Speaker 1: there's even an insurance market for the wildfires and and 925 00:54:15,360 --> 00:54:18,280 Speaker 1: and and whatnot. But to come back to this notion 926 00:54:18,400 --> 00:54:22,080 Speaker 1: of of just a massive fiscal stimulus bill being the 927 00:54:22,239 --> 00:54:26,000 Speaker 1: only solution on the table to avoid the pandemic, we 928 00:54:26,120 --> 00:54:29,200 Speaker 1: and the media have done a job I won't use 929 00:54:29,200 --> 00:54:33,359 Speaker 1: an adjective, but a job of of describing, oh, well, 930 00:54:33,440 --> 00:54:35,960 Speaker 1: coming out of Washington is only going to be fiscal stimulus. Well, 931 00:54:36,000 --> 00:54:39,600 Speaker 1: what I just learned from Congress Siman Maloney is, well, 932 00:54:39,640 --> 00:54:42,840 Speaker 1: what about an insurance marketplace for pandemic? What about some 933 00:54:43,040 --> 00:54:46,359 Speaker 1: preventative measures so that if we, unfortunately were to ever 934 00:54:46,480 --> 00:54:49,720 Speaker 1: find ourselves in this situation, it wouldn't it wouldn't happen. 935 00:54:49,840 --> 00:54:53,160 Speaker 1: So do how do how do lawmakers kind of crack 936 00:54:53,520 --> 00:54:57,000 Speaker 1: that code, so to speak, to to make it less 937 00:54:57,040 --> 00:55:00,160 Speaker 1: about the dollar signs and the amount of money on 938 00:55:00,280 --> 00:55:06,000 Speaker 1: the fiscal stimulus and actually the policy substantial policy ideas. Yeah. 939 00:55:06,239 --> 00:55:08,480 Speaker 1: They unfortunately they had to do it over and over 940 00:55:08,640 --> 00:55:11,480 Speaker 1: and over again to prove that they can actually do it. Uh. 941 00:55:11,560 --> 00:55:15,040 Speaker 1: And the biggest problem is under both Republicans and Democrats, 942 00:55:15,160 --> 00:55:18,439 Speaker 1: the Senate in particular has not functioned as a great 943 00:55:18,520 --> 00:55:22,759 Speaker 1: deliberative body. Uh. They do very little. Uh. They come in, 944 00:55:22,920 --> 00:55:26,160 Speaker 1: they vote on a few uh you know, post office 945 00:55:26,280 --> 00:55:30,279 Speaker 1: names and uh and you know, are out by Thursday afternoon. Uh. 946 00:55:30,440 --> 00:55:33,880 Speaker 1: And they're they're not doing real debating and amending of 947 00:55:33,960 --> 00:55:36,800 Speaker 1: bills in front of the American people. Everything is crafted 948 00:55:36,880 --> 00:55:39,839 Speaker 1: behind closed doors. Everything is an all or nothing vote. 949 00:55:40,640 --> 00:55:44,120 Speaker 1: I would love I would love to see debated on 950 00:55:44,239 --> 00:55:46,800 Speaker 1: the floor of the U. S. Senate this very issue. 951 00:55:46,880 --> 00:55:49,800 Speaker 1: Let's let's talk about this kind of pandemic insurance. What 952 00:55:49,880 --> 00:55:52,440 Speaker 1: does that look like? What should that be? And it 953 00:55:52,440 --> 00:55:54,800 Speaker 1: should be done in front of the American people. But 954 00:55:55,080 --> 00:55:57,160 Speaker 1: most of the time, you know, when I was Chief 955 00:55:57,200 --> 00:55:59,920 Speaker 1: of Staff and just amazed me. Some of the greatest 956 00:56:00,000 --> 00:56:03,800 Speaker 1: speech is given by both Democrats and Republican were to 957 00:56:03,920 --> 00:56:09,160 Speaker 1: an empty chamber. I can't so I used to Actually 958 00:56:09,880 --> 00:56:12,080 Speaker 1: I'm embarrassed to say this. I'll probably get in trouble. 959 00:56:12,080 --> 00:56:14,320 Speaker 1: It's Friday, so maybe I won't. But I would go 960 00:56:14,520 --> 00:56:18,439 Speaker 1: in to the chamber whenever I would need to not nap, 961 00:56:18,520 --> 00:56:20,560 Speaker 1: but whenever I would need a moment to just catch 962 00:56:20,680 --> 00:56:24,359 Speaker 1: my breath because no one's in there. Well, I would, 963 00:56:24,600 --> 00:56:26,680 Speaker 1: because you know, you're in the halls of Congress and 964 00:56:26,800 --> 00:56:29,440 Speaker 1: there's all you know, it's just like chaos. Everyone you know, 965 00:56:29,520 --> 00:56:31,719 Speaker 1: get this scoop, like get this game, be tweeted out, 966 00:56:31,800 --> 00:56:33,880 Speaker 1: put it on Instagram, you know, the whole nine yards. 967 00:56:34,480 --> 00:56:35,960 Speaker 1: And then I'm like, you know, where is there a 968 00:56:36,040 --> 00:56:38,399 Speaker 1: moment of pause, and then I go in and then 969 00:56:38,480 --> 00:56:40,680 Speaker 1: you have like but it is. It's a privilege to 970 00:56:40,800 --> 00:56:42,120 Speaker 1: be able to do it because you got to observe 971 00:56:42,239 --> 00:56:44,719 Speaker 1: the way that lawmakers and their staff, everyone from the 972 00:56:44,840 --> 00:56:47,160 Speaker 1: from the Senate pages up to the people like yourself, 973 00:56:47,200 --> 00:56:49,399 Speaker 1: the chief of staff too. Of course, the principles. It's 974 00:56:49,400 --> 00:56:51,360 Speaker 1: really remarkable. All Right, Before I let you go, we 975 00:56:51,440 --> 00:56:52,800 Speaker 1: got a couple more minutes. I got to ask you 976 00:56:52,840 --> 00:56:54,680 Speaker 1: about your old boss, Senator Mike Lee, because he and 977 00:56:54,760 --> 00:56:57,719 Speaker 1: his brother, Mike Lee and Thomas Lee are on the 978 00:56:57,800 --> 00:57:01,480 Speaker 1: shortlist for the Supreme Court that President put out on 979 00:57:01,719 --> 00:57:04,480 Speaker 1: a list of potential Supreme Court picks. Now, Senator Lea 980 00:57:04,520 --> 00:57:07,480 Speaker 1: said he doesn't necessarily want this. I didn't recognize that 981 00:57:07,680 --> 00:57:10,560 Speaker 1: Thomas Lee, his brother, is also a legal tour to 982 00:57:10,640 --> 00:57:14,440 Speaker 1: force uh in conservative circles, and so I'm curious. I mean, 983 00:57:14,719 --> 00:57:20,040 Speaker 1: how will Scotus picks play. Yeah, it h it will 984 00:57:20,040 --> 00:57:23,320 Speaker 1: be a big deal as it was in and either 985 00:57:23,400 --> 00:57:26,240 Speaker 1: of those Lee brothers would be a great asset to 986 00:57:26,280 --> 00:57:29,160 Speaker 1: the court. Thomas Lee, he's on the Supreme Court here 987 00:57:29,200 --> 00:57:31,200 Speaker 1: in the state of Utah, and that he was a 988 00:57:31,360 --> 00:57:35,280 Speaker 1: clerk for Justice Thomas and then of course Cerally was 989 00:57:35,920 --> 00:57:38,360 Speaker 1: a clerk for Justice Alito. So there's there's a lot 990 00:57:38,440 --> 00:57:40,840 Speaker 1: of firepower there. And of course their father was the 991 00:57:40,960 --> 00:57:44,680 Speaker 1: Solicitor General for Ronald Reagan, so they know their way 992 00:57:44,720 --> 00:57:46,800 Speaker 1: around the court. But I'll tell you the one thing 993 00:57:46,880 --> 00:57:49,800 Speaker 1: that most people don't realize about both of the Lee 994 00:57:49,920 --> 00:57:53,520 Speaker 1: brothers is that their greatest skill is not in their oratory, 995 00:57:53,680 --> 00:57:56,240 Speaker 1: it's in there listening. Uh. They are two of the 996 00:57:56,400 --> 00:57:59,560 Speaker 1: best listeners, and they got this from their dad. Every 997 00:57:59,680 --> 00:58:02,520 Speaker 1: picture or you will ever see of Rex Lee is 998 00:58:02,600 --> 00:58:05,640 Speaker 1: of him listening. Even though he argued more cases in 999 00:58:05,680 --> 00:58:08,120 Speaker 1: front of the Supreme Court than anybody in history to 1000 00:58:08,240 --> 00:58:10,800 Speaker 1: that point, every picture of him, whether it was with 1001 00:58:10,920 --> 00:58:14,160 Speaker 1: President Reagan or before the Court, was always him in 1002 00:58:14,320 --> 00:58:17,200 Speaker 1: a pose of listening. And that both of them are 1003 00:58:17,280 --> 00:58:20,360 Speaker 1: intense listeners in the court could use either one of them. 1004 00:58:20,920 --> 00:58:23,040 Speaker 1: All right, what's on your radar? Before I let you go? 1005 00:58:24,720 --> 00:58:27,320 Speaker 1: Oh man, what's on my radar? I wish we would 1006 00:58:27,360 --> 00:58:29,360 Speaker 1: get something going here for the American people, I think 1007 00:58:29,480 --> 00:58:32,240 Speaker 1: is I think as we do move into election cycle, 1008 00:58:32,880 --> 00:58:35,720 Speaker 1: I do think it's important for vote voters to to 1009 00:58:35,880 --> 00:58:39,240 Speaker 1: recognize that, Hey, it's not just about you know, asking 1010 00:58:39,360 --> 00:58:41,560 Speaker 1: questions of candidates. Most of us don't get a chance 1011 00:58:41,600 --> 00:58:43,600 Speaker 1: to sit down with a candidate that way, especially in 1012 00:58:43,640 --> 00:58:45,560 Speaker 1: a pandemic. But there are a lot of questions we 1013 00:58:45,640 --> 00:58:50,200 Speaker 1: got to ask ourselves about candidates before we cast votes 1014 00:58:50,320 --> 00:58:52,160 Speaker 1: this fall. And I think that's a big deal we 1015 00:58:52,200 --> 00:58:54,440 Speaker 1: should ask ourselves. You know, is this person in a 1016 00:58:54,520 --> 00:58:57,840 Speaker 1: position to show political courage. What are they for? We 1017 00:58:57,920 --> 00:59:00,280 Speaker 1: know it, they're again that's that's what we always here 1018 00:59:00,320 --> 00:59:02,960 Speaker 1: in terms of being against our opponent. But tell me 1019 00:59:03,040 --> 00:59:05,480 Speaker 1: what you're for? What's the vision? What do I do? 1020 00:59:05,600 --> 00:59:07,600 Speaker 1: What do I think about when I listened to this candidate? 1021 00:59:08,200 --> 00:59:10,120 Speaker 1: Am I thinking about them in office? Or do I 1022 00:59:10,200 --> 00:59:11,960 Speaker 1: find myself saying, oh, hey, that will be helpful to 1023 00:59:12,040 --> 00:59:15,800 Speaker 1: my family or to my neighborhood or community. Uh. And ultimately, 1024 00:59:15,840 --> 00:59:18,600 Speaker 1: I think we need to remember that while we will 1025 00:59:18,640 --> 00:59:20,480 Speaker 1: hear this over and over, this is a battle for 1026 00:59:20,560 --> 00:59:23,160 Speaker 1: the heart and soul of the nation. Uh. That is 1027 00:59:23,240 --> 00:59:26,120 Speaker 1: just wrong. We need to reject it because to accept that, 1028 00:59:26,320 --> 00:59:28,280 Speaker 1: you'd have to accept that the heart and soul of 1029 00:59:28,320 --> 00:59:31,720 Speaker 1: the nation is found in a political office. The only 1030 00:59:31,760 --> 00:59:34,200 Speaker 1: place you can find the heart and soul of America 1031 00:59:34,600 --> 00:59:36,640 Speaker 1: is in the heart and soul of the American people. 1032 00:59:37,000 --> 00:59:39,200 Speaker 1: And we all need to remember that, especially Here's it's all, 1033 00:59:39,280 --> 00:59:42,160 Speaker 1: my radar. Here's it's all my radar. Boy matheson uh 1034 00:59:42,400 --> 00:59:45,440 Speaker 1: Game three of the two thousand and one World Series 1035 00:59:45,840 --> 00:59:48,000 Speaker 1: a Yankee Stadium, when the heart and soul of the 1036 00:59:48,080 --> 00:59:52,040 Speaker 1: nation was on a baseball field, When former President Bush 1037 00:59:52,080 --> 00:59:55,120 Speaker 1: through the first pitch the memory I will never ever 1038 00:59:55,240 --> 00:59:58,920 Speaker 1: forget watching. Thank you for listening. We leave the gratitude 1039 00:59:58,960 --> 01:00:02,320 Speaker 1: for all of those, and even Number eleven. I'm Kevin Sarelli. 1040 01:00:02,400 --> 01:00:17,120 Speaker 1: You're listening to Woomberg nine. Number M