1 00:00:00,040 --> 00:00:03,760 Speaker 1: Turn our attention now to the presidential election cycle, and 2 00:00:03,880 --> 00:00:06,480 Speaker 1: John Heilman joins us now. He is, of course, the 3 00:00:06,559 --> 00:00:09,920 Speaker 1: co host of With all due respect weeknights five pm 4 00:00:10,280 --> 00:00:15,240 Speaker 1: on Bloomberg Television and Bloomberg in Washington, d C. John, 5 00:00:15,280 --> 00:00:17,520 Speaker 1: thank you very much for being here. I want to 6 00:00:17,880 --> 00:00:21,520 Speaker 1: so pleased to be next you, like almost like to 7 00:00:21,560 --> 00:00:23,480 Speaker 1: be on the to be on this air, and then 8 00:00:23,480 --> 00:00:25,720 Speaker 1: to be so close to you in such physical proximity. 9 00:00:25,760 --> 00:00:27,680 Speaker 1: It's just it's made my day, or it's like I've 10 00:00:27,680 --> 00:00:29,200 Speaker 1: had a really good day, but this is the highlight 11 00:00:29,200 --> 00:00:31,200 Speaker 1: of it so far. I'm glad to hear that. I'm 12 00:00:31,200 --> 00:00:33,639 Speaker 1: wondering if you could tell us about the highlight perhaps 13 00:00:33,680 --> 00:00:39,600 Speaker 1: of Donald Trump's day yesterday and the fallout from the 14 00:00:39,640 --> 00:00:44,920 Speaker 1: realignment of his campaign manager. I guess Corey, what we 15 00:00:45,000 --> 00:00:47,239 Speaker 1: called the real we called getting fired at realignment, Well, 16 00:00:47,240 --> 00:00:49,720 Speaker 1: it was it was difficult to understand exactly whether he 17 00:00:49,880 --> 00:00:52,920 Speaker 1: was fired or whether he was That was not difficult. 18 00:00:53,120 --> 00:00:55,800 Speaker 1: It was when you're escorted from the building by by security, 19 00:00:56,240 --> 00:00:58,600 Speaker 1: you've been fired. Just in case the day when that 20 00:00:58,680 --> 00:01:00,680 Speaker 1: day comes for your PIM, you'll know, thank you when 21 00:01:00,680 --> 00:01:02,200 Speaker 1: the security shows up here and walks you out of 22 00:01:02,200 --> 00:01:04,480 Speaker 1: the building, frog marches you out of a Lexington Avenue. 23 00:01:04,680 --> 00:01:07,520 Speaker 1: That's the day you've been fired. Well, thanks, I appreciate that. 24 00:01:07,560 --> 00:01:10,200 Speaker 1: It's not problem just giving you a tip. So what 25 00:01:10,200 --> 00:01:11,720 Speaker 1: what kind of tips do you think people have been 26 00:01:11,720 --> 00:01:15,360 Speaker 1: giving Donald Trump lately? Well, you know, his his family, 27 00:01:16,120 --> 00:01:17,720 Speaker 1: who are who he to whom he with whom he 28 00:01:17,760 --> 00:01:19,479 Speaker 1: loves a great deal, and to whom he's very loyal. 29 00:01:20,120 --> 00:01:24,240 Speaker 1: His daughter Ivanka and her two brothers, Eric and and 30 00:01:24,319 --> 00:01:28,000 Speaker 1: Don Jr. Were all Um had had been opposed to 31 00:01:29,240 --> 00:01:34,720 Speaker 1: the UH, to the stuff management style and other UH 32 00:01:35,240 --> 00:01:39,399 Speaker 1: manifestations of Korey Lewandowski's leadership, um mettier as it were. 33 00:01:39,720 --> 00:01:41,440 Speaker 1: And they've been opposed to him for quite a long time. 34 00:01:41,480 --> 00:01:43,080 Speaker 1: And it had gotten to the point where the campaign, 35 00:01:43,360 --> 00:01:44,959 Speaker 1: to the extent there is a campaign, and we can 36 00:01:45,000 --> 00:01:47,600 Speaker 1: talk about that in more detail, but that the whatever 37 00:01:47,760 --> 00:01:51,520 Speaker 1: campaign exists, was totally dysfunctional and Um, they eventually went 38 00:01:51,520 --> 00:01:53,880 Speaker 1: to their father and said, you gotta go. Um, this 39 00:01:54,000 --> 00:01:56,320 Speaker 1: is we can't have two people insensibly running this campaign, 40 00:01:56,320 --> 00:01:58,480 Speaker 1: the other being Paul Manifer, who's really the campaign manager 41 00:01:58,480 --> 00:02:01,920 Speaker 1: in fact, and the ash between Maniford and and Lewandowski 42 00:02:01,920 --> 00:02:04,240 Speaker 1: had been going on for now, for months, and finally 43 00:02:04,280 --> 00:02:06,120 Speaker 1: they just said, look, Dad, time for we gotta get 44 00:02:06,200 --> 00:02:08,160 Speaker 1: rid of this dude and and and be clear about 45 00:02:08,160 --> 00:02:10,520 Speaker 1: who's running the campaign and move forward from there. I mean, 46 00:02:10,919 --> 00:02:16,160 Speaker 1: it really is. Um, it's the most wretched campaign operation 47 00:02:16,280 --> 00:02:19,240 Speaker 1: at the presidential of the presidential nominee that I've ever seen. 48 00:02:19,680 --> 00:02:23,359 Speaker 1: And the fundraising numbers that came out overnight, UM give 49 00:02:23,360 --> 00:02:26,280 Speaker 1: a sense of exactly how messed up the entire operation is. There's, um, 50 00:02:26,360 --> 00:02:29,639 Speaker 1: there are currently four entities that I can think of 51 00:02:29,680 --> 00:02:32,520 Speaker 1: that have more cash on hand than Donald Trump's presidential campaign, 52 00:02:32,840 --> 00:02:35,160 Speaker 1: one of which is Hillary Clinton's campaign, another which is 53 00:02:35,280 --> 00:02:37,600 Speaker 1: Ted Cruiz's campaign, which no lover exists, another of which 54 00:02:37,639 --> 00:02:41,399 Speaker 1: is Bernie Sanders campaign. Also Ben Carson's campaign has more 55 00:02:41,440 --> 00:02:44,040 Speaker 1: cash on hand currently than Donald Trump's campaign. And and 56 00:02:44,120 --> 00:02:45,960 Speaker 1: those are four campaigns. Then there's you, Pim, and I 57 00:02:45,960 --> 00:02:48,000 Speaker 1: know you have more cash on hand also than Donald 58 00:02:48,000 --> 00:02:50,160 Speaker 1: Trump's one point three million dollars in cash on hand. 59 00:02:50,200 --> 00:02:52,440 Speaker 1: Hillary Clinton has about twenty five million dollars in cash 60 00:02:52,480 --> 00:02:55,520 Speaker 1: on hand. The Trump campaign raised. Um. Just I mean, 61 00:02:55,760 --> 00:02:58,640 Speaker 1: the month of May is a huge month for a 62 00:02:58,639 --> 00:03:01,360 Speaker 1: presidential nominee because you've opped up your nomination. In this case, 63 00:03:01,680 --> 00:03:03,840 Speaker 1: Hillary Clinton was still fighting with Bernie Sanders. It was 64 00:03:03,840 --> 00:03:05,760 Speaker 1: a huge, wide open field for Donald Trump had gotten 65 00:03:05,800 --> 00:03:07,920 Speaker 1: raised money get ready for the fall campaign, and they 66 00:03:08,000 --> 00:03:10,320 Speaker 1: raised virtually none. The campaign is bankrupt currently. If do 67 00:03:10,320 --> 00:03:12,080 Speaker 1: you think there are forty million dollars in the hole 68 00:03:12,160 --> 00:03:15,280 Speaker 1: on outstanding bills and have one point three million dollars 69 00:03:15,280 --> 00:03:17,360 Speaker 1: at one point eight one point three million on hand, 70 00:03:17,560 --> 00:03:21,560 Speaker 1: they are effectively bankrupt. So this is a moment where 71 00:03:21,760 --> 00:03:25,160 Speaker 1: Hillary Clinton is advertising, spending millions of dollars in battleground 72 00:03:25,200 --> 00:03:28,040 Speaker 1: states to define Donald Trump and define herself. The Trump 73 00:03:28,040 --> 00:03:30,720 Speaker 1: hampain is not in the air anywhere in the entire country. 74 00:03:30,720 --> 00:03:32,200 Speaker 1: They have not run a single ad yet in the 75 00:03:32,200 --> 00:03:35,040 Speaker 1: general election. Um So, I think it's fair to say 76 00:03:35,080 --> 00:03:38,200 Speaker 1: that the Trump campaign is a mess. And what will 77 00:03:38,200 --> 00:03:40,560 Speaker 1: happen now going forward is to what it's think can 78 00:03:40,560 --> 00:03:43,320 Speaker 1: they demessify themselves and what effect it can have or 79 00:03:43,360 --> 00:03:45,400 Speaker 1: will it be too late? Well, you know, John, last 80 00:03:45,400 --> 00:03:46,680 Speaker 1: time you're on the show, I believe last week you 81 00:03:46,800 --> 00:03:50,120 Speaker 1: pointed out very eloquently that there was no infrastructure. This 82 00:03:50,280 --> 00:03:53,880 Speaker 1: was anything but a real campaign in terms of the organization. 83 00:03:54,360 --> 00:03:57,240 Speaker 1: Is So, what have you heard the kids said, Dad, 84 00:03:57,280 --> 00:03:59,160 Speaker 1: you've got to make this change. What are the kids 85 00:03:59,160 --> 00:04:01,720 Speaker 1: telling him now? What are he need to do? Well? 86 00:04:01,760 --> 00:04:03,920 Speaker 1: I think there there is a you know, there's a 87 00:04:04,080 --> 00:04:06,560 Speaker 1: huge number of things that need to happen now um. 88 00:04:06,640 --> 00:04:08,920 Speaker 1: And again the question is whether it's too late to start. 89 00:04:09,080 --> 00:04:11,200 Speaker 1: You know, Paul Manifer has already made clear he plans 90 00:04:11,200 --> 00:04:14,600 Speaker 1: to start hiring um a lot of people fast um 91 00:04:14,680 --> 00:04:16,560 Speaker 1: and and try to get the show on that road. 92 00:04:16,640 --> 00:04:19,160 Speaker 1: Part of the problem with doing that, obviously, is when 93 00:04:19,160 --> 00:04:20,840 Speaker 1: you have one point three million dollars in cash on hand, 94 00:04:20,880 --> 00:04:23,200 Speaker 1: don't have a lot of money um to not only 95 00:04:23,360 --> 00:04:25,120 Speaker 1: there's a reason why there's no ads on the air 96 00:04:25,160 --> 00:04:27,480 Speaker 1: we now know, which is that they can't afford them um. 97 00:04:27,560 --> 00:04:29,160 Speaker 1: And you can't really hire a lot of people when 98 00:04:29,160 --> 00:04:30,640 Speaker 1: you have that little money. So you gotta build a 99 00:04:30,640 --> 00:04:33,599 Speaker 1: fundraising operation fast um. You've gotta build up a campaign 100 00:04:33,600 --> 00:04:36,320 Speaker 1: infrastructure fast um. To the at least they're never gonna 101 00:04:36,360 --> 00:04:38,520 Speaker 1: catch up to the Clinton campaign, but they have to 102 00:04:38,600 --> 00:04:41,640 Speaker 1: try to get together at least a provisional kind of 103 00:04:41,640 --> 00:04:43,680 Speaker 1: bare bones operation that allows them to do some of 104 00:04:43,680 --> 00:04:45,640 Speaker 1: the basic blocking and tackling of politics. And I think 105 00:04:45,680 --> 00:04:49,200 Speaker 1: that's where they're going to try to go alright. John Harman, 106 00:04:49,240 --> 00:04:52,000 Speaker 1: thank you so much for joining us. He is the 107 00:04:52,040 --> 00:04:55,560 Speaker 1: host of Bloomberg Televisions, with all due respect. You can 108 00:04:55,800 --> 00:05:01,720 Speaker 1: watch live week days at five pm Eastern time right 109 00:05:01,760 --> 00:05:04,480 Speaker 1: here on soon you're right there on Bloombrig Television, also 110 00:05:04,560 --> 00:05:09,760 Speaker 1: on Bloomberg One in Washington, d C. So we're going 111 00:05:09,800 --> 00:05:12,039 Speaker 1: to take another look at Janet Yellen. There were some 112 00:05:12,120 --> 00:05:15,400 Speaker 1: definitely some political issues raised or her testimony to the 113 00:05:15,440 --> 00:05:18,680 Speaker 1: Senate Banking Committee today. The most important though, when does 114 00:05:18,720 --> 00:05:21,320 Speaker 1: the Fed raise rates again? This is taking stock on 115 00:05:21,360 --> 00:05:22,120 Speaker 1: bloom Brig Radio.