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Speaker 2: You're listening to the Bloomberg Sound on podcast. Catch us

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Speaker 2: live weekdays at one Eastern on Bloomberg dot com, the

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Speaker 1: Kevin McCarthy is out. The race for Speaker begins again.

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Speaker 1: Welcome to the fastest show in politics. This day after

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Speaker 1: the Speaker of the House was ousted for the first

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Speaker 1: time ever in American history, and we're already naming names

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Speaker 1: on a possible replacement, with one week until the Speaker's

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Speaker 1: election and just about forty five days until a possible

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Speaker 1: government shut down. We are joined this hour by Congressman

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Speaker 1: French Hill, the Republican from Arkansas, still in the Capitol today,

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Speaker 1: and brings us his view on what happens next with

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Speaker 1: analysis from our signature panel. Bloomberg Politics contributors Rick Davis

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Speaker 1: and Genie Shanzano are with us for the hour. We're

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Speaker 1: live on the radio, on the satellites, and on YouTube,

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Speaker 1: where you search Bloomberg Global News to find us here

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Speaker 1: in studio. Welcome to this Wednesday edition of Sound On,

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Speaker 1: where we're hearing the term uncharted territory a lot again today.

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Speaker 3: On this vote, the Ya's are two sixteen, the nay's

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Speaker 3: are two ten. The resolution is adopted without objection. The

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Speaker 3: motion to reconsider is laid on the table. The office

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Speaker 3: of Speaker of the House of the United States House

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Speaker 3: of Representatives is hereby declared vacant.

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Speaker 1: How about it drops the gavel? Who never heard that before?

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Speaker 1: Happened late yesterday round four thirty in the afternoon Washington time.

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Speaker 1: It was later that evening that the ousted speaker made

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Speaker 1: clear his intentions not to try this again.

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Speaker 4: I will not run for speaker again. I'll have the

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Speaker 4: conference pick somebody else.

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Speaker 1: And that's where we begin with Congressman french Hill, a

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Speaker 1: Republican from Arkansas, joins us. Of course, we talk frequently

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Speaker 1: about financial matters as a member of the Financial Services Committee,

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Speaker 1: but congressmen were in a different world today, and I

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Speaker 1: sure would love your take on all of this. I

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Speaker 1: know that you were not a fan of what Congressman

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Speaker 1: mac Gates was up to. The language that you used

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Speaker 1: in an interaction with him was widely publicized. I know

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Speaker 1: that you wanted to keep Speaker McCarthy in place. But

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Speaker 1: now that this has happened, can your Republican conference coalesce

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Speaker 1: around another speaker in just a week's time.

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Speaker 5: Hey, Joe, it's great to be with you. That's essential

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Speaker 5: if we want to counter of the bad policies of

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Speaker 5: Joe Biden, if we want to be on equal footing

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Speaker 5: with Chuck Schumer's Democratic control Senate, we need to rally

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Speaker 5: behind a new leader in the House Republican Conference that

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Speaker 5: can lead us and represent us and represent the millions

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Speaker 5: of conservative voices that elected a Republican House in twenty

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Speaker 5: twenty two. And I know we'll do that. I think

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Speaker 5: there's hard days ahead of us, there's a lot of

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Speaker 5: work ahead of us, but I believe over the next

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Speaker 5: week the House Republicans will coalesce around a new leader

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Speaker 5: and be able to move forward, and we need to

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Speaker 5: move fast because of the forty five day period we

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Speaker 5: have before November seventeenth to try to complete a spending

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Speaker 5: deal with the Senate.

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Speaker 1: Well, what do you think we're in for here? Would

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Speaker 1: this next week long conversation that you're having within the

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Speaker 1: family prevent what we saw in January where it's fifteen

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Speaker 1: rounds the wild West on the floor? Is your intention

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Speaker 1: to coalesce around a speaker before it gets to voting.

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Speaker 6: Exactly.

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Speaker 5: I hope that members will reflect on what a terrible

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Speaker 5: day yesterday was where the wishes of ninety six percent

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Speaker 5: of the members of the House Republican Conference were not

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Speaker 5: honored by aid of their colleagues, and that we reflect

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Speaker 5: on what that's done to the strength of the conservative

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Speaker 5: movement in the House and leadership of House Republicans on

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Speaker 5: these issues, and come back together either Monday night or

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Speaker 5: Tuesday and begin a series of meetings that will allow

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Speaker 5: us to move forward with a new speaker.

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Speaker 1: Well, this is interesting, Congressman, because we are hearing named

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Speaker 1: Steve Scalise. Not a surprise to hear the Majority leader's

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Speaker 1: name floated. Jim Jordan also apparently is officially running now

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Speaker 1: for speaker. I spoke with him along with my colleague

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Speaker 1: Anne Marie, just two nights ago. This was Monday evening

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Speaker 1: on the balcony of the Cannon House office building right

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Speaker 1: where you are. Here is how this part of the

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Speaker 1: conversation went. Congressman, you're on a lot of short lists.

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Speaker 1: You went through this at the beginning of the year

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Speaker 1: when it was a fight for speaker. Of course, Kevin

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Speaker 1: McCarthy survived to believe it was fifteen rounds. Yeah, But

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Speaker 1: as long as you're on these short lists, would you

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Speaker 1: stand to be speaker if you want.

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Speaker 7: I don't want to.

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Speaker 8: I don't want to be speaker. I want I want

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Speaker 8: Kevin Artthy to be speaker. I want to focus on

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Speaker 8: the job.

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Speaker 9: If you were asked to serve your country in that role.

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Speaker 8: Well, I want to focus on the job I have.

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Speaker 8: I think I'm serving the folks in the fourth disc

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Speaker 8: of Ohio. That's my main job is to do what

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Speaker 8: I told them I was going to do when they

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Speaker 8: gave me the privilege to represent them, their families, their business,

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Speaker 8: our communities across West central and North central Ohio.

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Speaker 1: So Congressman Hill, if he didn't want the job, two

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Speaker 1: days ago. Do you trust his intentions? Now?

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Speaker 6: You know? I do.

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Speaker 5: Look, Jim Jordan's a very capable leader in Congress, cheering

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Speaker 5: the Judiciary Committee, chairing the Subcommittee, a special select committee

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Speaker 5: on the weaponization of the federal government. He's been a

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Speaker 5: great voice and leader in the conservative movement, not only

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Speaker 5: in the House but across the country. But he was

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Speaker 5: a firm supporter of Kevin McCarthy. He rejects what took

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Speaker 5: place on the House floor yesterday, and he gave a

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Speaker 5: tremendous speech in favor of Kevin yesterday. But yesterday was yesterday,

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Speaker 5: and we now need to think about the future.

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Speaker 1: Would you vote for him for speaker?

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Speaker 5: I think he's an eligible candidate for speaker. Personally, I'm

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Speaker 5: waiting over the next few days. I want to hear

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Speaker 5: from my colleagues. Talk to my colleagues, because we have

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Speaker 5: a tough decision to make. We need a leader to

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Speaker 5: carry us through the next election, which is a presidential election,

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Speaker 5: and counter this Joe Biden agenda and make sure all

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Speaker 5: the Republicans in the House are on the same page. Joe,

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Speaker 5: we have a lot of work to do, and we

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Speaker 5: don't have time for any more Shenanigans like we've had

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Speaker 5: this year.

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Speaker 1: Well, we heard some pretty flower language on the floor

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Speaker 1: yesterday when it came to describing the intentions motivations of

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Speaker 1: Congressman Matt Gates. Now that this has happened, there's been

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Speaker 1: talk of expelling him from the Republican Conference. I don't

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Speaker 1: know how exactly that would work. Congressman. What's going to

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Speaker 1: become of the gentleman from Florida? Now?

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Speaker 5: Well, I'm glad we're in a couple of day cooling

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Speaker 5: off period, Joe. I think members have gone home to

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Speaker 5: their families and to their districts to reflect on what's

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Speaker 5: happened over the past few weeks, and particularly yesterday. McCarthy

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Speaker 5: was a solid leader of the House Republicans. He scored

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Speaker 5: a lot of victories, led us to some major wins,

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Speaker 5: and the assertions made that he's not good on spending,

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Speaker 5: not good on the border, not good at negotiating with

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Speaker 5: Biden is all poppycock. Nobody buys that, and that's why

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Speaker 5: I had the support of ninety six percent of the

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Speaker 5: Republican Conference. So that's why I think you need to

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Speaker 5: have people reflecting over this weekend and coming back together

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Speaker 5: next Tuesday. For a family conversation about where to go forward.

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Speaker 1: Well, nothing would keep I'm assuming a Congressman Gates from

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Speaker 1: doing this again. If the next Speaker, for instance, were

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Speaker 1: to put up a cr and maybe get some Democratic votes,

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Speaker 1: I guess I'm just curious. Do you think he should

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Speaker 1: be in the family, Should he be serving on committees

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Speaker 1: as a Republican member.

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Speaker 5: I think this is for the conference to decide. Look,

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Speaker 5: if people say they want a speaker to lead us,

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Speaker 5: that they'll buy into and keep and pledge allegiance to

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Speaker 5: in the sense in the most positive sense, not in

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Speaker 5: a dictatorial way. But we'll work together to counter the

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Speaker 5: Biden agenda going into a present sidential election year and

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Speaker 5: let Speaker that woman or that man serve until after

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Speaker 5: the election in twenty twenty four. I think that would

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Speaker 5: give confidence to people to support a speaker. Let's lead

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Speaker 5: the charge, and then we can revisit who the Speaker

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Speaker 5: of the House is the Republican leader after the election

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Speaker 5: in twenty twenty four. We need some certainty here in

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Speaker 5: our leadership.

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Speaker 1: How about a speaker french Hill.

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Speaker 5: Gosh, I have a big job on the House Financial

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Speaker 5: Services Committee, the Foreign Affairs Committee, the Intelligence Committee, and

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Speaker 5: I love that work, and I'm going to stick with it.

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Speaker 1: Let's talk about the backdrop here, Congressman, and that's against

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Speaker 1: the potential government shutdown we were looking at November seventeenth. Here,

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Speaker 1: does this process does the ouster of Kevin McCarthy make

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Speaker 1: it more likely that we will shut down next month?

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Speaker 5: Boy, this is such a good question, Joe, a smart

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Speaker 5: question and a very troubling question for me. Let's assume

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Speaker 5: that the House Republicans can elect the speaker next Tuesday

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Speaker 5: or Wednesday.

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Speaker 6: We've lost five legislative.

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Speaker 5: Days of about sixteen legislative days that are scheduled left

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Speaker 5: to complete this work. One of the assertions by the

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Speaker 5: rebels in Matt Gates's corner where well we're not getting

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Speaker 5: these spending bills done on time.

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Speaker 6: Well, guess what.

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Speaker 5: Ejecting the speaker makes that even tougher, because you can't

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Speaker 5: go to the House floor and do any business of

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Speaker 5: the House without a speaker decided. So we're putting more

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Speaker 5: pressure on the process, weakening the hand in my view

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Speaker 5: of Republicans, because that November seventeenth date is charging at us.

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Speaker 5: This week, we would have done two appropriations bills, and

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Speaker 5: we would do two more the next week, and then

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Speaker 5: we would start conferencing these bills with the Senate. And

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Speaker 5: that's what we need to be doing in order to

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Speaker 5: get a good conservative spending position of the House, negotiating

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Speaker 5: with the Democrat control Senate.

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Speaker 1: Well, you stayed in town. Where'd everybody go, Congress when

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Speaker 1: you could be working on this right now?

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Speaker 5: Well that's why I'm in town, and I am working

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Speaker 5: on it right now.

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Speaker 6: And the whole I wish was here today, but they're not.

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Speaker 5: As you know, the Democrats were going out to California

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Speaker 5: to the Feinstein meeting. I mean, I'm sorry, I beg

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Speaker 5: your pardon, missus Feinstein's funeral, and a lot of the

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Speaker 5: House members were meeting today in preparation for that election

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Speaker 5: that we'll call for next week.

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Speaker 1: Well, let's push this forward a little bit. You and

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Speaker 1: I tend to talk about the economy when you're on

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Speaker 1: there's a great concern that the hard landing scenario is

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Speaker 1: looking a lot more likely as student loan payments resume,

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Speaker 1: as interest rates creep higher. Yeah, a government shut down

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Speaker 1: to that and an auto workers strike. Congressman, we could

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Speaker 1: be talking about a very different economy a couple of

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Speaker 1: months from now.

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Speaker 5: What's your view, you know, Joe, that's been my view.

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Speaker 5: I've never been a full soft landing person. The cause

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Speaker 5: of the steepness of the interest rate increases, that was

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Speaker 5: the largest most steep increase in short term rates since

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Speaker 5: nineteen eighty.

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Speaker 6: It has a lagging impact.

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Speaker 5: So I think we're just now feeling theer initious effects

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Speaker 5: from those monetary policy issues. And as you say, there's

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Speaker 5: some other consumer related issues and on the supply side,

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Speaker 5: particularly a UAW strike or more bad decisions regulatorily from

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Speaker 5: the Biden administration. So I'm very cautious about the economy

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Speaker 5: right now, and I think people have been lulled by that.

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Speaker 5: But when you combine economic worries and what I've seen

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Speaker 5: in the response to the deficit spending two trillion dollars

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Speaker 5: and no idea of how to get spending under control,

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Speaker 5: you see the ten year rate pushing five percent.

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Speaker 6: Those are concerning signs to me.

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Speaker 1: Well, that absolutely is the five percent handle here is

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Speaker 1: looking pretty scary for the stock markets, for all of

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Speaker 1: the markets. Congressman, does the Fed need to stop down

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Speaker 1: and take another look at this? Considering the lag effect

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Speaker 1: of these historic interest rate hikes, This idea of higher

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Speaker 1: for longer is spooking a lot of folks right out

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Speaker 1: of the market.

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Speaker 6: Right.

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Speaker 5: Well, we've got to be concerned about financial stability, bank health,

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Speaker 5: market reaction, but we're also concerned about getting inflation down

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Speaker 5: to the two percent target. I know where how cautious

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Speaker 5: and prudent the chairman pal is. But as I've said

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Speaker 5: on this show for over a year now, almost two years,

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Speaker 5: the activities of fiscal stimulus and runaway spending by Joe

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Speaker 5: Biden is making the attempt to rein in inflation tougher

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Speaker 5: for the Central Bank. They cannot do it together, Amity

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Speaker 5: schlays and I wrote an op ed of the Wall

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Speaker 5: Street Journal about that about.

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Speaker 6: A year ago, warning of this.

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Speaker 5: And so if we don't get spending under control, we've

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Speaker 5: got a fiscal crisis.

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Speaker 6: If we don't, as you say.

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Speaker 5: Watch the negative consequences of steep interest rate increases, we

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Speaker 5: may have some instability crisis in the market. So this

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Speaker 5: is a tough position for the Federal Reserve chairman, but

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Speaker 5: he's up to it, and I'm counting on him reading

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Speaker 5: the data and making the right recommendations.

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Speaker 1: Yeah, I know this week's jobs report is going to

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Speaker 1: play into the future here quite a bit. We've got

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Speaker 1: a breaking news headline. Congressman from punch Bowl, Steve Scalise,

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Speaker 1: says he will run for speaker. I'm guessing that you

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Speaker 1: heard this or maybe you expected this to be coming.

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Speaker 1: Weigh in on that as you choose, But looking forward

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Speaker 1: to next week's speaker election and considering the transition here,

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Speaker 1: what will be the future of Matt Gates's ethics investigation

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Speaker 1: under different leadership? If any.

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Speaker 5: Well, I'm not sure. I mean, that's really up to

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Speaker 5: the House Ethics Committee. They operate in a very independent manner,

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Speaker 5: independent of the views of individual members of Congress, to

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Speaker 5: assess any assertions or allegations there. But Steve Scalise, our

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Speaker 5: majority leader, has been in leadership now for years. He's

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Speaker 5: been a very capable whip. He's been a capable majority leader,

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Speaker 5: so it doesn't surprise me that he's tossed his hat

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Speaker 5: in the ring for speaker, and now you have two

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Speaker 5: to publicly address candidates that's got the talent and leadership

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Speaker 5: ability to be I think high quality leaders.

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Speaker 6: In the Republican Conference.

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Speaker 5: But we'll have to wait and see what our collective

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Speaker 5: members think is in the best judgment.

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Speaker 1: Of the House Lastly, Congressman, do you want to see

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Speaker 1: a rules change that might make it more difficult for

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Speaker 1: Matt Gates to tip over the cart all by himself

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Speaker 1: like yesterday.

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Speaker 5: You know, we've had that rule of vak the chair

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Speaker 5: with one member offering it for one hundred years. The

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Speaker 5: only Speaker who didn't face that constraint was the one

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Speaker 5: and only Nancy Pelosi. So there are a lot of

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Speaker 5: members that would stick with that tradition. But in a

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Speaker 5: modern world, I think that'll be the subject of strong

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Speaker 5: debate inside the conference and an important issue for candidates

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Speaker 5: running for speaker. What's their view on that? Should they

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Speaker 5: would they support a House rule change? And how would

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Speaker 5: the members vote on that? And would members be bound

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Speaker 5: by a vote on that? For example, you're not supposed

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Speaker 5: to offer a motion to vac without the approval of

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Speaker 5: the House Republican Conference, But I don't believe any of

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Speaker 5: the eight followed that House rule.

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Speaker 1: You know, we had a conversation with Mike Lawler, your

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Speaker 1: colleague from New York, a Republican lawmaker who won in

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Speaker 1: a Biden district. As were frequently reminded, he threatened to

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Speaker 1: take the gavel throw it at Matt Gates hid him

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Speaker 1: between the eyes. That comment has gone viral on social media,

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Speaker 1: and I wonder if you share the sentiment.

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Speaker 5: Well, I think my views on what happened last week

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Speaker 5: are pretty well known and pretty well covered. I don't

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Speaker 5: know that throwing gabbles is the way to build comedy

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Speaker 5: inside the House Republican Conference. We need to remember what

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Speaker 5: the mission is here. We need to be taking this

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Speaker 5: battle to the American people to end the Biden administration's

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Speaker 5: failed policies on the border, economically, in national security policy,

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Speaker 5: and elect a president that's a Republican and re elect

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Speaker 5: our House and good members like Mike Lawler and God

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Speaker 5: Willing reelect a Republican Senate. That's what we need to do.

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Speaker 5: We need to be focused on that, not throwing gavels

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Speaker 5: at each other.

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Speaker 1: Very diplomatics today, Congressman, I appreciate your time.

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Speaker 6: I'm doing the best.

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Speaker 5: I'm trying to earn a new place and also keep

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Speaker 5: the show a little more family friendly than last week.

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Speaker 1: Well, thank you, I appreciate that very much. Congressman Frenchhill,

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Speaker 1: Republican from Arkansas.

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Speaker 2: With us, you're listening to The Bloomberg sound on podcast.

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Speaker 2: Catch the program live weekdays at one Eastern on Bloomberg Radio,

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Speaker 2: the tune in alf Bloomberg dot Com, and the Bloomberg

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Speaker 2: Business app. You can also listen live on Amazon Alexa

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Speaker 2: Bloomberg eleven thirty.

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Speaker 1: You have two official announcements for Speaker, Jim Jordan, who

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Speaker 1: told us the other night he didn't want this job,

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Speaker 1: and Steve Scalise. They're both going for it. We have

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Speaker 1: a speaker's race, and we're joined now by Jeanie Schanzano

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Speaker 1: and Rick Davis, Bloomberg Politics contributors. Rick, the news has

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Speaker 1: been fast and furious. Around this time yesterday, we knew

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Speaker 1: that Democrats would not back Kevin McCarthy. He is no

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Speaker 1: longer Speaker. Patrick McHenry is in place as acting Speaker,

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Speaker 1: and we heard from french Hill a bit earlier this hour.

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Speaker 1: Looking ahead one week to a speaker's election, will Republicans

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Speaker 1: have coalesced around a candidate by then.

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Speaker 10: Well, I think that's one of the reasons you're seeing

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Speaker 10: people announce right now is because they're having a trouble

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Speaker 10: getting communications. People are en route back to their districts,

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Speaker 10: some stuck around Washington. They have these presentations today. Some

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Speaker 10: of the candidates are afforded time with the Texas delegation

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Speaker 10: twenty five members strong, probably the biggest single coalition Republicans

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Speaker 10: from any one state. And so the clock was taken.

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Speaker 10: And I think that Jim Jordan's a great example, told

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Speaker 10: you two days ago, you know that he didn't want

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Speaker 10: to be speaker. A day ago, right after the vote,

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Speaker 10: he said he's going to leave that to the caucus.

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Speaker 10: And today he announces he's a candidate for speaker, so

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Speaker 10: that other members know that he's actually interested in the job,

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Speaker 10: and he doesn't have to call him all individually to

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Speaker 10: tell him that. This is a difficult communications problem for

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Speaker 10: these people who want to run, because they've got four

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Speaker 10: days until they make a presentation to the caucus, and

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Speaker 10: none of them want that to be the reason that

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Speaker 10: they're going to win.

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Speaker 7: They want to already lined.

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Speaker 10: Up votes, and then Wednesday's the vote, so you know,

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Speaker 10: the clock is really ticking down to the eleventh hour already.

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Speaker 7: And you can see.

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Speaker 10: Why Congressman McHenry, the speaker pro tempt gambled everybody out

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Speaker 10: and said go home till Tuesday, because there literally would

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Speaker 10: have been no time if they'd gone right into a

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Speaker 10: speaker's election so well, caught us by surprise. Yesterday makes

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Speaker 10: some sense today.

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Speaker 1: Fascinating take from Rick Davis, Geenie, what did you make

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Speaker 1: of the president? First of all, he sounded exhausted. I

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Speaker 1: don't know if that had anything to do with the

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Speaker 1: events in the past twenty four hours, but the dysfunction

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Speaker 1: always concerns me. What would this mean for his agenda?

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Speaker 11: I think the President is going to continue to move

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Speaker 11: forward and focus on the business of the people, and

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Speaker 11: that's what he was talking about today. Student loan forgiveness.

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Speaker 11: I've just been doing some work on this. The phones

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Speaker 11: are jam packed for people who need to repay their

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Speaker 11: student loans. It is a very, very stressful time. So

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Speaker 11: while the chaos is consuming the Republicans in the House,

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Speaker 11: this is what millions and millions of Americans, families, parents,

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Speaker 11: former students, current students are deeply concerned about. And that's

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Speaker 11: what the President is going to be doing. And he

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Speaker 11: ended with a question on Ukraine. And there is a big,

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Speaker 11: big question looming over the speaker's fight, whether it is

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Speaker 11: Jim Jordan, whether it is Steve Scalise or somebody else

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Speaker 11: who and they're all vying for this position. Are they

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Speaker 11: going to make a concession on Ukraine funding which so many,

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Speaker 11: an increasing number of Republicans the House are gearing for it,

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Speaker 11: to tie it to the border security And if they

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Speaker 11: do that, what position does it leave Ukraine in? You

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Speaker 11: know who's happy about yesterday, Vladimir Putin and Moscow. We

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Speaker 11: are seeing Eastern Europe move away from support for Ukraine,

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Speaker 11: and we are seeing that in the US Congress. That

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Speaker 11: is an enormous, enormous concern for the United States, and

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Speaker 11: the President is going to need to do a lot

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Speaker 11: to shore up support for that, as are Republicans like

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Speaker 11: Mitch McConnell who truly support this funding.

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Speaker 1: Well, let's get into this a little bit. I do

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Speaker 1: want to ask you both about a little bit more

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Speaker 1: about the Speaker's election next week. But the view from

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Speaker 1: the White House is important here, Rick, the President couldn't

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Speaker 1: keep secret that he was planning a major address on this.

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Speaker 1: This is clearly what the conversation was in the room

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Speaker 1: before he walked out in front of reporters. But you've

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Speaker 1: made the case that a couple of people up here

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Speaker 1: who say, you know, not another dollar for Ukraine, do

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Speaker 1: not compare to the majority of Democrats and Republicans who

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Speaker 1: support this funding effort. How much of a challenge will

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Speaker 1: this be for Joe Biden.

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Speaker 10: Yeah, I think he's actually doing the right thing, and

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Speaker 10: I think the calculus that I'm hearing from this news

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Speaker 10: is that he's got to convince the American public to

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Speaker 10: be on his side, who then will help him convince

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Speaker 10: Congress to be on his side for Ukraine funding. Part

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Speaker 10: of what is happening in Congress is a realization that

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Speaker 10: there's less and less support amongst the American electorate and

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Speaker 10: that needs to change otherwise Ultimately that will undermine support

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Speaker 10: to Congress. And so going to a presidential speech, hopefully

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Speaker 10: prime time, hopefully he'll have a little bit more energy

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Speaker 10: in that speech that he just gave on student loans,

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Speaker 10: he can be a layout compelling reason why it's in

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Speaker 10: our national interests to see Ukraine victorious in this war

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Speaker 10: of Russian aggression. And that will in and out but

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Speaker 10: self add momentum to his effort for funding on Capitol Hill.

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Speaker 10: A part of its parliamentary maneuvering, the House has got

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Speaker 10: to figure out a way to operate on every issue,

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Speaker 10: not just Ukraine funding. But they do need to determine

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Speaker 10: whether or not they can get a fair vote, an

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Speaker 10: open vote for Republicans and Democrats who support this, an

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Speaker 10: overwhelming majority to allow this fundy to move forward.

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Speaker 1: If Joe Biden's going to do this, genie, he needs

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Speaker 1: to tear down this wall kind of speech. Is he

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Speaker 1: capable of doing that?

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Speaker 11: Yeah? I think he is. You know, he has surprised us.

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Speaker 11: It was not that long ago that many of us

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Speaker 11: were surprised by the way he maneuvered, for instance, in

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Speaker 11: the State of the Union to make Republicans agree that

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Speaker 11: they weren't going to touch Social Security, Medicare, and Medicaid,

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Speaker 11: and he did that publicly. So I do think he

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Speaker 11: is capable of doing it. But I also think this

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Speaker 11: is not just up to Joe Biden. Let's not forget again.

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Speaker 11: Whoever runs for speaker needs two hundred and eighteen votes.

441
00:22:58,720 --> 00:22:59,480
Speaker 12: To get there.

442
00:23:00,000 --> 00:23:03,440
Speaker 11: Need to deal not with the majority of the Republican caucus,

443
00:23:03,760 --> 00:23:07,080
Speaker 11: but with the hardliners who are going to demand concessions

444
00:23:07,119 --> 00:23:11,879
Speaker 11: presumably again, and that will likely involve Ukraine funding. So

445
00:23:12,000 --> 00:23:14,840
Speaker 11: it is Republican leadership we need to see in the

446
00:23:14,920 --> 00:23:19,320
Speaker 11: House on Ukraine funding. And yes, it is critically important

447
00:23:19,359 --> 00:23:22,399
Speaker 11: that Joe Biden tell the American people why this is

448
00:23:22,440 --> 00:23:25,119
Speaker 11: in our interest and needs to say it over and

449
00:23:25,160 --> 00:23:28,760
Speaker 11: over again. But Republican leadership in the House needs to

450
00:23:28,840 --> 00:23:33,000
Speaker 11: stand up and say it as well. Kevin McCarthy said

451
00:23:33,040 --> 00:23:35,720
Speaker 11: it was critically important, and then what did he do.

452
00:23:36,000 --> 00:23:39,080
Speaker 11: He bent to the hardliners to keep his job. And

453
00:23:39,119 --> 00:23:41,800
Speaker 11: that is the fear as we move forward with another

454
00:23:41,920 --> 00:23:45,720
Speaker 11: concession out of whoever is the next speaker going you

455
00:23:45,760 --> 00:23:48,280
Speaker 11: know when this vote occurs next week or the week after.

456
00:23:50,160 --> 00:23:52,879
Speaker 1: Spending time with our panel, Genie Shanzano and Rick Davis,

457
00:23:52,880 --> 00:23:55,880
Speaker 1: I want to hear from you both on the future

458
00:23:55,960 --> 00:23:59,080
Speaker 1: of Matt Gates, and I'm going to just walk through

459
00:23:59,080 --> 00:24:01,600
Speaker 1: a couple of moments over the past twenty four hours

460
00:24:01,640 --> 00:24:05,240
Speaker 1: that might help us paint the picture here of what

461
00:24:05,440 --> 00:24:07,560
Speaker 1: he is now looking at. Of course, the motion to

462
00:24:07,640 --> 00:24:11,440
Speaker 1: vacate was successful. We'll start with Kevin McCarthy, the now

463
00:24:11,520 --> 00:24:15,760
Speaker 1: former Speaker, said this whole thing was personal, and he

464
00:24:15,800 --> 00:24:19,399
Speaker 1: makes a reference to the ethics investigation into Matt Gates.

465
00:24:19,480 --> 00:24:23,800
Speaker 4: Listen, look, you all know Matt Gates.

466
00:24:25,760 --> 00:24:26,800
Speaker 7: You know it was personal.

467
00:24:27,840 --> 00:24:31,119
Speaker 4: It had nothing to do about spending, It had nothing

468
00:24:31,160 --> 00:24:34,080
Speaker 4: to do about everything he accused somebody of he was

469
00:24:34,160 --> 00:24:38,760
Speaker 4: doing it. All was about getting attention from you. I mean,

470
00:24:38,960 --> 00:24:43,040
Speaker 4: we're getting email fundraisers from him as he's doing it.

471
00:24:43,800 --> 00:24:44,639
Speaker 1: Join in quickly.

472
00:24:46,080 --> 00:24:51,200
Speaker 4: That's not governing, that's not becoming of a member of Congress.

473
00:24:51,720 --> 00:24:54,480
Speaker 4: And regardless of what you think, I've seen the texts.

474
00:24:54,560 --> 00:24:57,600
Speaker 1: It was all about his ethics. But that's all right,

475
00:24:58,720 --> 00:25:02,840
Speaker 1: I've seen the text. Yes, it was all about his ethics.

476
00:25:04,119 --> 00:25:07,320
Speaker 1: Let's go to the floor. Congressman Garrett Graves, of course,

477
00:25:07,359 --> 00:25:10,840
Speaker 1: an ally of Speaker McCarthy, helped to negotiate the debt

478
00:25:10,840 --> 00:25:16,800
Speaker 1: ceiling deal. Outraged by Matt Gate's fundraising. What's going on in.

479
00:25:16,680 --> 00:25:19,200
Speaker 13: This country today, what's going on in this body where

480
00:25:19,200 --> 00:25:22,400
Speaker 13: you have Freedom Works, Heritage, shipbroy and Jim Jordan say

481
00:25:22,440 --> 00:25:25,800
Speaker 13: something's conservative and these folks say it's not, and they're right.

482
00:25:26,160 --> 00:25:28,879
Speaker 13: And all of a sudden, my phone keeps sending text messages,

483
00:25:31,920 --> 00:25:35,280
Speaker 13: text messages saying, hey, give me money. Oh look at that,

484
00:25:35,760 --> 00:25:37,639
Speaker 13: Oh look give me money. I filed the motion to

485
00:25:37,720 --> 00:25:42,960
Speaker 13: vacate using official actions, official actions to raise money.

486
00:25:43,040 --> 00:25:44,119
Speaker 1: It's disgusting.

487
00:25:44,320 --> 00:25:46,360
Speaker 13: It's what's disgusting about Washington.

488
00:25:47,480 --> 00:25:50,680
Speaker 1: It's what's disgusting. He's not holding back in this case,

489
00:25:50,680 --> 00:25:54,200
Speaker 1: and Matt Gates did answer to those charges.

490
00:25:54,280 --> 00:25:59,000
Speaker 14: Listen, I take no lecture on asking patriotic Americans to

491
00:25:59,080 --> 00:26:01,400
Speaker 14: weigh in and country tribute to this fight from those

492
00:26:01,400 --> 00:26:04,480
Speaker 14: who would grovel and bend mee for the lobbyists and

493
00:26:04,600 --> 00:26:08,560
Speaker 14: special interests who own our leadership, who have followed Boo

494
00:26:08,600 --> 00:26:11,399
Speaker 14: all you want, who have followed out this town and

495
00:26:11,480 --> 00:26:14,960
Speaker 14: have borrowed against the future of our future generations. I'll

496
00:26:15,000 --> 00:26:18,200
Speaker 14: be happy to fund my political operation through the work

497
00:26:18,359 --> 00:26:21,959
Speaker 14: of hardworking Americans ten and twenty and thirty dollars at

498
00:26:21,960 --> 00:26:23,760
Speaker 14: a time, and you all keep showing up at the

499
00:26:23,800 --> 00:26:25,960
Speaker 14: lobbyist fundraisers and see how that goes for you.

500
00:26:27,840 --> 00:26:31,280
Speaker 1: Okay, Rick Davis, what do you think of Matt Gates

501
00:26:31,320 --> 00:26:34,480
Speaker 1: here also being accused of preparing a run for governor

502
00:26:34,560 --> 00:26:38,120
Speaker 1: of Florida? How does this wash out? Is he expelled

503
00:26:38,119 --> 00:26:41,320
Speaker 1: from the conference? Can they do that? Will he lose

504
00:26:41,640 --> 00:26:43,720
Speaker 1: committee assignments? What's next?

505
00:26:45,840 --> 00:26:49,720
Speaker 10: Sounds like we need a GOP therapist for that caucus.

506
00:26:50,040 --> 00:26:52,399
Speaker 7: I mean, it has only gotten worse.

507
00:26:52,440 --> 00:26:55,720
Speaker 10: And I think that press conference you know last night

508
00:26:55,760 --> 00:27:00,240
Speaker 10: after the vote by Kevin McCarthy, now just Congressman McCarthy

509
00:27:00,960 --> 00:27:03,880
Speaker 10: was really telling, I mean really through all these eight

510
00:27:04,240 --> 00:27:07,960
Speaker 10: people who voted against him for the speakership under the

511
00:27:08,000 --> 00:27:13,040
Speaker 10: bus talked about actually running primaries against him and said

512
00:27:13,080 --> 00:27:15,200
Speaker 10: they are not conservatives. And if you want to talk

513
00:27:15,240 --> 00:27:17,800
Speaker 10: about people who just did business with the Democrats, it's

514
00:27:17,840 --> 00:27:20,520
Speaker 10: those eight people who just joined with the Democrats decide

515
00:27:20,920 --> 00:27:23,160
Speaker 10: who's going to be this next speaker. So, I mean,

516
00:27:23,680 --> 00:27:25,560
Speaker 10: I don't know how you put this all back together.

517
00:27:25,880 --> 00:27:27,960
Speaker 10: I mean, like you can't make these kinds of statements,

518
00:27:28,000 --> 00:27:31,480
Speaker 10: Garrett Graves. Uh, you know, Kevin McCarthy, I mean, you know,

519
00:27:31,720 --> 00:27:34,960
Speaker 10: you look at the reaction yesterday and it was hot,

520
00:27:35,400 --> 00:27:38,199
Speaker 10: and these are these are not relationships that are going

521
00:27:38,280 --> 00:27:41,960
Speaker 10: to get repaired anytime soon, and certainly not between now

522
00:27:42,080 --> 00:27:44,879
Speaker 10: and the next vote for speaker. So who in the

523
00:27:45,160 --> 00:27:48,480
Speaker 10: in the caucus is able to have a conversation with

524
00:27:48,600 --> 00:27:51,480
Speaker 10: these various factions in a way that is anything other

525
00:27:51,520 --> 00:27:54,359
Speaker 10: than going to ignite them into all out war like

526
00:27:54,400 --> 00:27:58,000
Speaker 10: they were in yesterday. So, uh, if Steven Scalize wants

527
00:27:58,040 --> 00:28:03,560
Speaker 10: to be the speaker, and evidently Matt Gates thinks he'd

528
00:28:03,680 --> 00:28:06,880
Speaker 10: be great, then the question is going to be if

529
00:28:06,920 --> 00:28:09,040
Speaker 10: you are going to do business with Matt Gates, then

530
00:28:10,080 --> 00:28:11,679
Speaker 10: how about the other two hundred and ten people who

531
00:28:11,760 --> 00:28:12,600
Speaker 10: disagree with them?

532
00:28:13,040 --> 00:28:15,040
Speaker 7: So, I mean, I think you're really stuck in a

533
00:28:15,080 --> 00:28:16,720
Speaker 7: bind in this caucus.

534
00:28:17,359 --> 00:28:20,639
Speaker 10: It will be seriously interesting to see who can prevail

535
00:28:20,840 --> 00:28:24,200
Speaker 10: and how many of those ballots we suffered through fifteen

536
00:28:24,280 --> 00:28:26,520
Speaker 10: with Kevin McCarthy. I mean, you better get out the

537
00:28:26,520 --> 00:28:29,440
Speaker 10: mattresses because next week could be a long week.

538
00:28:30,920 --> 00:28:34,320
Speaker 1: We're going to be going to the mattress's Genie talk

539
00:28:34,400 --> 00:28:38,000
Speaker 1: about the hot as Rick Davis puts it. Mike Lawler,

540
00:28:38,120 --> 00:28:41,280
Speaker 1: the congressman from New York, who was not happy about

541
00:28:41,280 --> 00:28:45,320
Speaker 1: this process and is obviously concerned about a difficult reelection.

542
00:28:45,400 --> 00:28:47,960
Speaker 1: He joined us on Balance of Power last evening on

543
00:28:47,960 --> 00:28:54,280
Speaker 1: Bloomberg TV, and I asked him about Patrick McHenry's slamming

544
00:28:54,320 --> 00:28:56,960
Speaker 1: of the gavel, which to me might be the enduring

545
00:28:57,040 --> 00:28:59,600
Speaker 1: image of yesterday. I mean, he put his back into

546
00:28:59,640 --> 00:29:02,200
Speaker 1: what I thought the gavel was going to break at

547
00:29:02,240 --> 00:29:05,239
Speaker 1: the end of the session, and Mike Lawler suggested that

548
00:29:05,280 --> 00:29:07,280
Speaker 1: he might have taken it a step further. If you're

549
00:29:07,320 --> 00:29:09,400
Speaker 1: with us on YouTube, look at that. My god, I'd

550
00:29:09,400 --> 00:29:11,600
Speaker 1: have to see a chiropractor after that. Here's Lawler.

551
00:29:12,080 --> 00:29:14,080
Speaker 15: The only thing that I would have done differently is

552
00:29:14,120 --> 00:29:19,360
Speaker 15: flung it in the direction of one person. Look, he

553
00:29:19,400 --> 00:29:26,719
Speaker 15: absolutely epitomized the frustrations of the conference and the American people.

554
00:29:27,080 --> 00:29:31,320
Speaker 15: This is not what they elected us to do, to squabble,

555
00:29:31,400 --> 00:29:35,280
Speaker 15: to fight amongst ourselves. They elected us to govern and

556
00:29:37,120 --> 00:29:39,760
Speaker 15: we need to get Oh yeah, I would have hit

557
00:29:39,800 --> 00:29:40,880
Speaker 15: him square between the eyes.

558
00:29:42,040 --> 00:29:43,880
Speaker 1: I would have hit him square between the eyes. We

559
00:29:43,960 --> 00:29:47,600
Speaker 1: talk about the cage match with Elon and Zuckerberg, Genie,

560
00:29:47,680 --> 00:29:52,000
Speaker 1: I mean Rick mentions a therapist. How about a fight club.

561
00:29:52,040 --> 00:29:53,640
Speaker 1: Where do we get the anger out here?

562
00:29:56,600 --> 00:30:00,400
Speaker 11: I don't know, but you know, Lawler is a really,

563
00:30:00,440 --> 00:30:04,360
Speaker 11: really interesting figure. He is from a Biden district. Of course,

564
00:30:04,400 --> 00:30:07,600
Speaker 11: he's worried about his own re election bid, and he

565
00:30:07,680 --> 00:30:11,400
Speaker 11: has been a voice of reason because from his perspective

566
00:30:11,440 --> 00:30:14,840
Speaker 11: and the perspective of most Republicans who want to win

567
00:30:14,960 --> 00:30:18,280
Speaker 11: and govern, this is the height of insanity. You know,

568
00:30:18,320 --> 00:30:21,560
Speaker 11: You've got a president with very low approval ratings and

569
00:30:21,640 --> 00:30:24,680
Speaker 11: what are you doing. You are showing that you cannot

570
00:30:24,720 --> 00:30:28,400
Speaker 11: be trusted with one third of the government to govern.

571
00:30:28,920 --> 00:30:31,719
Speaker 11: And so all Joe Biden has to sit back to

572
00:30:31,760 --> 00:30:35,920
Speaker 11: do is sit back and watch this chaos play out.

573
00:30:36,280 --> 00:30:39,360
Speaker 11: You know, people talk about Joe Biden's age, but when

574
00:30:39,360 --> 00:30:42,520
Speaker 11: you're looking at twenty twenty four and you are sitting

575
00:30:42,840 --> 00:30:47,280
Speaker 11: in a suburban district or you are trying to attract

576
00:30:47,320 --> 00:30:52,280
Speaker 11: independence and moderates and women, old is probably better than crazy.

577
00:30:52,320 --> 00:30:56,000
Speaker 11: And this has been crazy crazy. So for Lawler, he

578
00:30:56,160 --> 00:30:58,440
Speaker 11: knows where this is headed, and he has every right

579
00:30:58,520 --> 00:31:02,560
Speaker 11: to be frustrated. And I'm not recommending he engage in violence,

580
00:31:02,840 --> 00:31:05,400
Speaker 11: but I wish you had been on with him later

581
00:31:05,520 --> 00:31:08,800
Speaker 11: to ask him what he thinks about McHenry throwing this

582
00:31:09,000 --> 00:31:11,920
Speaker 11: former speaker out of her office while she is attending

583
00:31:12,040 --> 00:31:15,800
Speaker 11: the yeah for a senator. So you know, I'm not

584
00:31:15,880 --> 00:31:20,200
Speaker 11: sure that's what the American people elected them to do either. Petty, petty,

585
00:31:20,280 --> 00:31:23,120
Speaker 11: petty and crazy crazy crazy seems to rule to day.

586
00:31:24,240 --> 00:31:26,080
Speaker 1: I'm glad that you mentioned, by the way, the line

587
00:31:26,080 --> 00:31:29,080
Speaker 1: of the hour so far, Jeanie Shanzano, old is better

588
00:31:29,120 --> 00:31:30,760
Speaker 1: than crazy. I think we can put that on a

589
00:31:30,800 --> 00:31:33,480
Speaker 1: bumper sticker, Rick, But talk to me about the eviction.

590
00:31:33,560 --> 00:31:36,200
Speaker 1: I'm glad you mentioned this, Genie. The first move from

591
00:31:36,240 --> 00:31:39,440
Speaker 1: the acting speaker is to throw Nancy Pelosi out of

592
00:31:39,440 --> 00:31:42,360
Speaker 1: the so called hideaway. This is not her actual office,

593
00:31:42,360 --> 00:31:45,760
Speaker 1: but the hideaway, you know, prize real estate in the Capitol.

594
00:31:45,760 --> 00:31:48,840
Speaker 1: And Stenny Hoyer got booted as well. They're pulling the

595
00:31:48,880 --> 00:31:51,880
Speaker 1: furniture out of there while Nancy Pelosi is at a

596
00:31:51,920 --> 00:31:54,240
Speaker 1: funeral in California. Is that the right move?

597
00:31:57,800 --> 00:31:58,959
Speaker 7: You want me to answer that?

598
00:32:00,080 --> 00:32:04,680
Speaker 1: Yeah, honestly, right, maybe maybe internal politics say that is

599
00:32:04,720 --> 00:32:05,240
Speaker 1: a good move.

600
00:32:07,120 --> 00:32:09,880
Speaker 7: Now, I mean it was pretty random. Uh.

601
00:32:10,040 --> 00:32:12,240
Speaker 10: And and look, I mean this shows you just the

602
00:32:12,320 --> 00:32:16,640
Speaker 10: level of anger and uh that exists inside the Republican Caucus.

603
00:32:16,680 --> 00:32:19,440
Speaker 10: I mean, you know, McHenry was upset that his friend

604
00:32:19,560 --> 00:32:23,520
Speaker 10: Kevin McCarthy had been just posed, and and and and

605
00:32:23,640 --> 00:32:26,640
Speaker 10: Nancy Pelosi was piling on saying no way would she

606
00:32:26,680 --> 00:32:28,440
Speaker 10: ever allow the caucus to vote for this guy.

607
00:32:29,000 --> 00:32:30,680
Speaker 7: To some degree was the bet he made.

608
00:32:30,520 --> 00:32:34,280
Speaker 10: Himself, Kevin McCarthy, because he basically gave the message to

609
00:32:34,320 --> 00:32:35,840
Speaker 10: the Democrats that he didn't want their support.

610
00:32:35,960 --> 00:32:37,840
Speaker 7: So, I mean, it was a confusing day.

611
00:32:37,920 --> 00:32:42,440
Speaker 10: But the idea that you react to that by turning

612
00:32:42,440 --> 00:32:45,680
Speaker 10: on the Democrats and kicking Nancy Pelosi out, you know,

613
00:32:45,760 --> 00:32:49,080
Speaker 10: it's just a bad precedent. Uh. Former speakers have always

614
00:32:49,120 --> 00:32:53,720
Speaker 10: been afforded to hideaway. It's part of the gentilneus genteelness

615
00:32:53,800 --> 00:32:56,360
Speaker 10: of the House of Representatives. You don't want to see

616
00:32:56,360 --> 00:33:00,160
Speaker 10: that go away just because people are angry. I think

617
00:33:00,160 --> 00:33:03,520
Speaker 10: everybody needs to just calm down. And I'm glad Speaker

618
00:33:03,560 --> 00:33:07,360
Speaker 10: pro Tem McHenry actually told people to go home because

619
00:33:08,400 --> 00:33:09,880
Speaker 10: the last thing we want is any more of that

620
00:33:10,000 --> 00:33:11,320
Speaker 10: kind of thing happening today.

621
00:33:11,320 --> 00:33:15,240
Speaker 1: And well, I guess there's something to be said for it, though, Genie,

622
00:33:15,240 --> 00:33:17,640
Speaker 1: I have to admit, look at what happened to Liz

623
00:33:17,720 --> 00:33:20,920
Speaker 1: Cheney and Kevin McCarthy had a lot to do with that.

624
00:33:22,120 --> 00:33:24,600
Speaker 1: Thrown out of the House, thrown out of the Republican family,

625
00:33:25,880 --> 00:33:28,160
Speaker 1: and lost her job over it. Are we in a

626
00:33:28,200 --> 00:33:31,880
Speaker 1: world in which Liz Cheney is punished more severely for

627
00:33:31,960 --> 00:33:35,560
Speaker 1: what she did to stand up for the Constitution effectively

628
00:33:36,280 --> 00:33:40,040
Speaker 1: than Matt Gates is for what happened yesterday.

629
00:33:40,240 --> 00:33:43,240
Speaker 11: We certainly are. I mean, I don't think we see

630
00:33:43,240 --> 00:33:46,160
Speaker 11: any inkling at this point that Matt Gates will lose

631
00:33:46,240 --> 00:33:48,800
Speaker 11: his seat over what he has done. He may be

632
00:33:49,120 --> 00:33:52,000
Speaker 11: expelled from the conference. I don't see how they let

633
00:33:52,080 --> 00:33:54,440
Speaker 11: him into those conference meetings. Then he goes out and

634
00:33:54,480 --> 00:33:57,560
Speaker 11: he reveals all their secrets. So I do think it

635
00:33:57,640 --> 00:34:00,720
Speaker 11: is very possible that this is the moment that we

636
00:34:00,840 --> 00:34:03,720
Speaker 11: are in. And I think that is such an important point, Joe,

637
00:34:03,800 --> 00:34:07,440
Speaker 11: because what are we seeing. We are seeing populism run

638
00:34:07,480 --> 00:34:10,680
Speaker 11: amok in the Republican Party. It is run by the

639
00:34:10,760 --> 00:34:14,040
Speaker 11: Maga wing. And you know Jim Jordan saying to you

640
00:34:14,080 --> 00:34:16,160
Speaker 11: two days ago he doesn't want the job. Now he's

641
00:34:16,200 --> 00:34:19,640
Speaker 11: going forward. If he gets this job. It is another

642
00:34:19,920 --> 00:34:23,880
Speaker 11: nail in that coffin where MAGA is controlling this party,

643
00:34:24,239 --> 00:34:26,960
Speaker 11: and that is a problem. We've seen Mitt Romney leeve,

644
00:34:27,040 --> 00:34:30,840
Speaker 11: We've seen Liz Cheney leave, Mike Pence making really important

645
00:34:30,880 --> 00:34:35,040
Speaker 11: speeches against it has gotten no traction. And Matt Gates

646
00:34:35,120 --> 00:34:37,719
Speaker 11: is ruling this caucus even though it is against the

647
00:34:37,800 --> 00:34:40,719
Speaker 11: interests and the votes of ninety six percent of his

648
00:34:40,800 --> 00:34:45,440
Speaker 11: fellow party members. This is a very very dangerous moment

649
00:34:45,520 --> 00:34:48,080
Speaker 11: for the Republican Party, and because they have the majority

650
00:34:48,440 --> 00:34:51,400
Speaker 11: for all of us, and again it stretches around the

651
00:34:51,440 --> 00:34:55,280
Speaker 11: world to Ukraine, and that is the most troubling aspect

652
00:34:55,320 --> 00:34:55,839
Speaker 11: of all of this.

653
00:34:57,400 --> 00:35:00,800
Speaker 1: Something to think about. Rick Janey was kicked out of

654
00:35:00,840 --> 00:35:03,880
Speaker 1: the leadership and eventually lost her job. What will happen

655
00:35:03,880 --> 00:35:04,960
Speaker 1: to Matt Gates.

656
00:35:07,200 --> 00:35:08,600
Speaker 7: You know, it's hard to tell.

657
00:35:08,680 --> 00:35:12,279
Speaker 10: I mean, I believe Kevin McCarthy when he throws down

658
00:35:12,320 --> 00:35:15,000
Speaker 10: the gauntlet that the Ethics Committee is working on this,

659
00:35:15,800 --> 00:35:18,560
Speaker 10: But there is an investigation by the Ethics Committee into

660
00:35:18,600 --> 00:35:23,000
Speaker 10: mac Gates, and I suspect they're all the members of

661
00:35:23,000 --> 00:35:25,239
Speaker 10: that group are all under a lot of pressure to,

662
00:35:25,680 --> 00:35:29,839
Speaker 10: you know, get their job done. I would say all

663
00:35:29,880 --> 00:35:31,640
Speaker 10: of this may be mood a year from now, like

664
00:35:31,680 --> 00:35:34,440
Speaker 10: the next Speaker may have another very short tenure because

665
00:35:35,040 --> 00:35:38,319
Speaker 10: at the rate they're going, the Republicans in Congress are

666
00:35:38,400 --> 00:35:40,920
Speaker 10: going to convince the American people that they are crazy

667
00:35:41,840 --> 00:35:45,680
Speaker 10: and that nothing gets done on their watch, and that

668
00:35:45,880 --> 00:35:49,560
Speaker 10: they will be cast out like any good electorate would

669
00:35:49,560 --> 00:35:53,120
Speaker 10: do to a bunch of cowboys like this. And we

670
00:35:53,200 --> 00:35:55,840
Speaker 10: don't have to worry about Jim Jordan being Speaker anymore,

671
00:35:56,000 --> 00:35:59,200
Speaker 10: or Steven Scalize or anybody else, because it'll be a

672
00:35:59,280 --> 00:36:05,080
Speaker 10: dark day and you know, Washington before Republicans can claim

673
00:36:05,160 --> 00:36:11,160
Speaker 10: leadership of the House of Representatives by this kind of Conduct's.

674
00:36:09,320 --> 00:36:11,680
Speaker 1: Genie, right, Rick is old better than crazy.

675
00:36:14,920 --> 00:36:16,800
Speaker 7: I'd rather have a better set of choices.

676
00:36:17,440 --> 00:36:21,200
Speaker 10: You know, nobody loves crazy, no matter what age you're at.

677
00:36:22,400 --> 00:36:25,040
Speaker 1: Yeah, I guess that's right, man. This is why we

678
00:36:25,080 --> 00:36:28,080
Speaker 1: have Rick Davis and Jeanie Shanzeno. Rick and Jeannie. I'm

679
00:36:28,160 --> 00:36:34,160
Speaker 1: Joe Matthew. This is Bloomberg. You're listening to the Bloomberg

680
00:36:34,280 --> 00:36:38,360
Speaker 1: Sound on podcast. Catch us live weekdays at one Eastern.

681
00:36:38,080 --> 00:36:41,280
Speaker 2: On Bloomberg dot com, the iHeartRadio app and the Bloomberg

682
00:36:41,320 --> 00:36:44,719
Speaker 2: Business app, or listen on demand wherever you get your podcasts.

683
00:36:46,040 --> 00:36:48,520
Speaker 1: Here we are already with Kaylee Lines in Washington. Nice

684
00:36:48,560 --> 00:36:51,840
Speaker 1: to see you, as always, Welcome back to the Capitol.

685
00:36:52,239 --> 00:36:53,880
Speaker 1: You picked the perfect time to join us here. I

686
00:36:53,920 --> 00:36:56,880
Speaker 1: know you were up covering the trial in New York yesterday.

687
00:36:56,920 --> 00:36:59,160
Speaker 1: Not the Trump trial, we have to be specific about

688
00:36:59,160 --> 00:37:03,200
Speaker 1: this going down, but the Sam Bankman freed trial each other, Yeah,

689
00:37:03,200 --> 00:37:05,560
Speaker 1: which we'll have an opportunity to talk a lot more about.

690
00:37:05,560 --> 00:37:07,719
Speaker 1: But we needed you back here. This has been a

691
00:37:07,760 --> 00:37:11,680
Speaker 1: wild twenty four hours, wild seventy two hours. I guess

692
00:37:11,719 --> 00:37:13,520
Speaker 1: we thought that the government was going to shut down

693
00:37:13,520 --> 00:37:14,319
Speaker 1: a couple of days ago.

694
00:37:14,520 --> 00:37:16,880
Speaker 12: Yeah, and wild seems like it's almost under selling it.

695
00:37:17,320 --> 00:37:21,360
Speaker 12: Probably chaotic, yes, right, tumultuous, vitriolic could think of a

696
00:37:21,400 --> 00:37:25,120
Speaker 12: few other descriptors. But yeah, that's where we are, Joe.

697
00:37:25,160 --> 00:37:29,040
Speaker 1: Two grown men want this job. They want to go there.

698
00:37:30,400 --> 00:37:32,960
Speaker 1: Steve Scalise, whose name has floated every time you have

699
00:37:33,000 --> 00:37:36,040
Speaker 1: this conversation, a majority leader. He's been in Republican leadership

700
00:37:36,080 --> 00:37:37,800
Speaker 1: for a long time, but he's being treated for cancers,

701
00:37:37,800 --> 00:37:40,719
Speaker 1: going through chemotherapy at the same time as Speaker's race

702
00:37:40,760 --> 00:37:42,839
Speaker 1: is happening. I don't know how you do that. Then again,

703
00:37:42,840 --> 00:37:45,600
Speaker 1: we've seen him recover from a gunshot wound. And then

704
00:37:45,600 --> 00:37:48,520
Speaker 1: there's Jim Jordan, the Chairman of the Judiciary, who we

705
00:37:48,560 --> 00:37:49,680
Speaker 1: thought didn't want that job.

706
00:37:50,280 --> 00:37:51,799
Speaker 12: Isn't that what he told you?

707
00:37:51,880 --> 00:37:55,400
Speaker 1: Well, that's true, Anne, Marie and I talked to the

708
00:37:55,480 --> 00:37:58,600
Speaker 1: chairman two days ago. This was Monday, when everyone was

709
00:37:58,600 --> 00:38:00,359
Speaker 1: celebrating the government not closing.

710
00:38:00,040 --> 00:38:02,640
Speaker 12: Before the motion to vacate even had been That's correct.

711
00:38:02,760 --> 00:38:03,920
Speaker 9: You're on a lot of short lists.

712
00:38:03,920 --> 00:38:05,399
Speaker 1: You went through this at the beginning of the year

713
00:38:05,440 --> 00:38:06,760
Speaker 1: when it was a fight for speaker.

714
00:38:06,800 --> 00:38:10,000
Speaker 9: Of course, Kevin McCarthy survived. I believe it was fifteen rounds.

715
00:38:10,080 --> 00:38:12,040
Speaker 1: Yeah, but as long as you're on these short lists,

716
00:38:12,080 --> 00:38:14,319
Speaker 1: would you stand to be speaker if you don't want to?

717
00:38:14,520 --> 00:38:15,879
Speaker 8: I don't want to be speaker. I want I want

718
00:38:16,000 --> 00:38:17,759
Speaker 8: Kevin McCarthy to be speaker. I want to focus on

719
00:38:17,760 --> 00:38:18,040
Speaker 8: the job.

720
00:38:18,040 --> 00:38:19,560
Speaker 9: And if you were asked to serve your country in

721
00:38:19,560 --> 00:38:20,120
Speaker 9: that role.

722
00:38:20,000 --> 00:38:21,719
Speaker 8: Well, I want to focus on the job I have.

723
00:38:21,840 --> 00:38:23,320
Speaker 8: I think I'm serving the folks in the fourth this

724
00:38:23,480 --> 00:38:24,080
Speaker 8: reg of Ohio.

725
00:38:24,160 --> 00:38:26,960
Speaker 1: That's my main I don't want to be speaker, and

726
00:38:26,960 --> 00:38:29,560
Speaker 1: I guess that's what you say, though, when Kevin McCarthy

727
00:38:29,640 --> 00:38:33,360
Speaker 1: still has the job, they were allied. Did he know

728
00:38:33,520 --> 00:38:36,360
Speaker 1: he was going to do this in just two days.

729
00:38:36,760 --> 00:38:37,839
Speaker 1: There's no way we'll know that.

730
00:38:37,880 --> 00:38:40,280
Speaker 12: But you wonder, well, maybe he was hoping he wouldn't

731
00:38:40,320 --> 00:38:41,800
Speaker 12: be in a position where he could.

732
00:38:42,000 --> 00:38:42,920
Speaker 1: Everybody was gaming this.

733
00:38:43,200 --> 00:38:46,040
Speaker 12: Everything's conditional, right, Joe, I don't want to be speaker,

734
00:38:46,440 --> 00:38:50,640
Speaker 12: right if Kevin McCarthy is. If Kevin McCarthy is not speaker,

735
00:38:50,680 --> 00:38:53,960
Speaker 12: maybe you answer that question differently. Clearly, he is considering.

736
00:38:54,000 --> 00:38:55,799
Speaker 12: He is now in this race.

737
00:38:56,280 --> 00:38:58,520
Speaker 1: So we've got a week. I guess candidates will present

738
00:38:58,560 --> 00:39:00,920
Speaker 1: their positions next Tuesday. To Patrick McHenry.

739
00:39:01,040 --> 00:39:02,160
Speaker 12: YEP votes begin Wednesday.

740
00:39:02,239 --> 00:39:05,360
Speaker 1: Votes begin Wednesday, and boy, it's anyone's guest, I asked,

741
00:39:06,400 --> 00:39:09,960
Speaker 1: as french Hill the Congressman from Arkansas earlier if coalescing

742
00:39:09,960 --> 00:39:12,480
Speaker 1: around a candidate might prevent another fifteen rounds. And that's

743
00:39:12,520 --> 00:39:14,320
Speaker 1: their hope right now, is that what happens in the

744
00:39:14,360 --> 00:39:17,080
Speaker 1: next week makes this nice and clean on the floor

745
00:39:17,120 --> 00:39:19,680
Speaker 1: next Wednesday. But then there's reality.

746
00:39:19,920 --> 00:39:22,680
Speaker 12: Well, and there's the consideration that a lot of members

747
00:39:22,680 --> 00:39:25,640
Speaker 12: of Congress are going home if they haven't already. So

748
00:39:25,719 --> 00:39:28,279
Speaker 12: what are they going to be doing between now and

749
00:39:28,640 --> 00:39:30,399
Speaker 12: next week when they have to come back to vote?

750
00:39:30,400 --> 00:39:32,120
Speaker 12: And you know, there was a meeting with the Texas

751
00:39:32,160 --> 00:39:33,080
Speaker 12: Republican delegation.

752
00:39:33,200 --> 00:39:34,960
Speaker 1: Yeah, now you were down there for that. What'd you

753
00:39:34,960 --> 00:39:36,640
Speaker 1: get out of there? Anything? Did they run past you?

754
00:39:36,719 --> 00:39:40,840
Speaker 12: Well, all of the Texas delegates have representatives have decided

755
00:39:40,920 --> 00:39:42,960
Speaker 12: not at this time to say who they are supporting

756
00:39:42,960 --> 00:39:45,279
Speaker 12: for speaker. They agreed to that as a group. So

757
00:39:45,320 --> 00:39:47,840
Speaker 12: none of them were answering that question in the hallway.

758
00:39:47,840 --> 00:39:50,440
Speaker 12: But it was interesting. Congressman Michael McCall said that not

759
00:39:50,520 --> 00:39:53,239
Speaker 12: only Scalice and Jordan said that they were running that.

760
00:39:53,360 --> 00:39:55,600
Speaker 12: Kevin Hearn, the Congressman, told them that he was going

761
00:39:55,680 --> 00:39:56,480
Speaker 12: to get in there too.

762
00:39:56,760 --> 00:39:57,480
Speaker 1: Well, that's news.

763
00:39:57,520 --> 00:40:00,479
Speaker 12: We haven't actually gotten the letter to college.

764
00:40:00,520 --> 00:40:02,680
Speaker 1: It's not official official, but that's coming.

765
00:40:02,960 --> 00:40:06,000
Speaker 12: Apparently that's what was suggested, but really no real sign.

766
00:40:06,040 --> 00:40:08,279
Speaker 12: And I was speaking with Congressman Pete Sessions, of course

767
00:40:08,320 --> 00:40:10,440
Speaker 12: of Texas, and I said, as any of them, are

768
00:40:10,480 --> 00:40:11,719
Speaker 12: any of them going to be able to get two

769
00:40:11,840 --> 00:40:13,560
Speaker 12: hundred and eighteen votes? And he just looked me dead

770
00:40:13,560 --> 00:40:15,880
Speaker 12: in the eye and said, well, that's the question, isn't it.

771
00:40:15,960 --> 00:40:17,799
Speaker 1: That's why I still say I don't know. They would

772
00:40:17,840 --> 00:40:21,000
Speaker 1: be remarkable. After a round after out of that's not happening.

773
00:40:21,400 --> 00:40:24,959
Speaker 1: This guy named Kevin stands up this drafted they pull

774
00:40:25,120 --> 00:40:29,560
Speaker 1: me back in. I don't know, Terry Haynes, maybe I'm dreaming.

775
00:40:29,880 --> 00:40:32,800
Speaker 1: We were talking about this on the radio this morning.

776
00:40:33,280 --> 00:40:36,880
Speaker 1: Everybody says what they mean until they don't mean it anymore.

777
00:40:37,160 --> 00:40:39,560
Speaker 1: Are we actually ruling out I know he says he's

778
00:40:39,560 --> 00:40:41,319
Speaker 1: not going to run, but are we ruling out Kevin

779
00:40:41,360 --> 00:40:45,239
Speaker 1: McCarthy in a world in which no one else can

780
00:40:45,239 --> 00:40:46,080
Speaker 1: get to to eighteen?

781
00:40:48,239 --> 00:40:50,960
Speaker 16: Good afternoon to both of you. I'm glad Kayley's been

782
00:40:51,920 --> 00:40:55,920
Speaker 16: sprung from purgatory here and he was back in Washington

783
00:40:56,440 --> 00:40:59,839
Speaker 16: meetso particularly you know two things.

784
00:41:00,200 --> 00:41:00,319
Speaker 14: Thing.

785
00:41:00,520 --> 00:41:03,440
Speaker 16: I'll get to Henry in a second, but you know

786
00:41:03,920 --> 00:41:06,560
Speaker 16: they're gonna run because it's a loose analog to like

787
00:41:06,640 --> 00:41:09,560
Speaker 16: running for president, right, they're people that are actually credible

788
00:41:09,560 --> 00:41:12,279
Speaker 16: presidential candidates. There are people that want stuff, There are

789
00:41:12,280 --> 00:41:17,279
Speaker 16: people that want to be cabinet secretaries, and you know,

790
00:41:17,360 --> 00:41:20,840
Speaker 16: so people get in for all kinds of reasons. And

791
00:41:20,920 --> 00:41:23,840
Speaker 16: so you know, you know why Scalisee is in. I mean, Jordan,

792
00:41:24,160 --> 00:41:25,799
Speaker 16: I don't know, you know, I mean, I don't think

793
00:41:25,840 --> 00:41:29,239
Speaker 16: he can get there, but but you know he can.

794
00:41:29,560 --> 00:41:32,080
Speaker 16: He can get some stuff out of Scalisee or somebody

795
00:41:32,160 --> 00:41:35,280
Speaker 16: else or whoever's running. So you know, they're all jockeying

796
00:41:35,320 --> 00:41:38,200
Speaker 16: in that sort of way. Now, you know McHenry is

797
00:41:38,200 --> 00:41:42,439
Speaker 16: you and I talked this morning on daybreak. I think

798
00:41:42,520 --> 00:41:45,120
Speaker 16: McHenry is a real dark horse here. There are not

799
00:41:45,239 --> 00:41:47,560
Speaker 16: a lot of people who are trusted by both sides,

800
00:41:47,600 --> 00:41:52,880
Speaker 16: and he's got a he's got a real facility for

801
00:41:52,960 --> 00:41:55,439
Speaker 16: being able to listen and come up with good compromises.

802
00:41:55,480 --> 00:41:59,680
Speaker 16: He was McCarthy's lieutenant in the whole debt ceiling fight,

803
00:42:00,080 --> 00:42:03,719
Speaker 16: and you know he has the ability here and may

804
00:42:03,840 --> 00:42:09,920
Speaker 16: end up being the reluctant guy. So you know, we

805
00:42:09,960 --> 00:42:10,640
Speaker 16: had a ways to go.

806
00:42:10,760 --> 00:42:14,720
Speaker 12: Well, well, and Terry. Congressman Garrett Graves, who of course

807
00:42:14,800 --> 00:42:17,520
Speaker 12: is very close, was very close to McCarthy and along

808
00:42:17,520 --> 00:42:19,319
Speaker 12: with mckenry, was one of those key players in the

809
00:42:19,360 --> 00:42:22,359
Speaker 12: dead Sealing talk. Suggested to Bloomberg reporters earlier that mc

810
00:42:22,400 --> 00:42:24,560
Speaker 12: henry might be needing to stay in that seat through

811
00:42:24,640 --> 00:42:28,600
Speaker 12: November seventeenth, when that Continuing Resolution expires and we could

812
00:42:28,600 --> 00:42:31,840
Speaker 12: potentially be staring down the barrel of another government shutdown.

813
00:42:32,160 --> 00:42:34,640
Speaker 12: Does all of this just make that pretty much a

814
00:42:34,680 --> 00:42:36,520
Speaker 12: guarantee at this point.

815
00:42:37,800 --> 00:42:41,120
Speaker 16: I wouldn't say it's a guarantee there is, but I

816
00:42:41,160 --> 00:42:46,640
Speaker 16: see the logic, and mister Graves is a very savvy guy.

817
00:42:46,440 --> 00:42:51,319
Speaker 16: The thing is with the speakership is that and I say,

818
00:42:51,320 --> 00:42:53,400
Speaker 16: this is somebody that was involved in the continuity of

819
00:42:53,440 --> 00:42:56,600
Speaker 16: government plans twenty years ago and helped to set up

820
00:42:56,680 --> 00:43:01,960
Speaker 16: the system that we're now seeing. The temporary speaker existed,

821
00:43:01,960 --> 00:43:04,040
Speaker 16: you know, in case a bomb dropped on the Capitol,

822
00:43:04,160 --> 00:43:06,840
Speaker 16: or you know, there was you know, something else happened.

823
00:43:07,760 --> 00:43:10,839
Speaker 16: It wasn't really envisioned for situations like this, but what

824
00:43:10,920 --> 00:43:13,480
Speaker 16: it was envisioned to be was a it was a

825
00:43:13,520 --> 00:43:16,960
Speaker 16: temporary stopgap for as short a period of time as possible.

826
00:43:17,360 --> 00:43:19,800
Speaker 16: So you know, the onus has been in the Parliamentarians.

827
00:43:19,840 --> 00:43:23,200
Speaker 16: I think we'll tell the Republicans that. So the onus

828
00:43:23,280 --> 00:43:26,040
Speaker 16: is really on the Republicans to come up with a

829
00:43:26,280 --> 00:43:28,520
Speaker 16: with a real candidate that can get to two eighteen

830
00:43:28,960 --> 00:43:33,160
Speaker 16: as too, as soon as possible. And that's reflected in

831
00:43:33,320 --> 00:43:36,960
Speaker 16: McHenry's own time frame where he wants a He wants

832
00:43:36,960 --> 00:43:40,839
Speaker 16: to vote next Wednesday. Now all that said, you know

833
00:43:40,920 --> 00:43:43,719
Speaker 16: there might be a number of different candidates. McHenry may

834
00:43:43,760 --> 00:43:46,520
Speaker 16: want to be out out like not really do it,

835
00:43:46,560 --> 00:43:51,120
Speaker 16: and he really doesn't want to do it. So we're

836
00:43:51,160 --> 00:43:53,719
Speaker 16: in a situation, I think where where there could be

837
00:43:53,760 --> 00:43:56,200
Speaker 16: a prolonged period of time and if it and if

838
00:43:56,239 --> 00:43:58,319
Speaker 16: something doesn't happen within a week or two, at the

839
00:43:58,440 --> 00:44:03,360
Speaker 16: very outside, for stability purposes alone, you need somebody to

840
00:44:03,360 --> 00:44:04,920
Speaker 16: be in that seat. So it may end up being

841
00:44:05,000 --> 00:44:07,320
Speaker 16: McHenry through the November seventeenth.

842
00:44:07,440 --> 00:44:12,600
Speaker 1: Yes, fascinating. It's because you were a part of crafting

843
00:44:12,600 --> 00:44:15,520
Speaker 1: that continuity of government plan. That's in part why we

844
00:44:15,560 --> 00:44:18,840
Speaker 1: wanted to talk to you today, Terry. I just wonder

845
00:44:18,840 --> 00:44:21,719
Speaker 1: how much wiggle room there is in the powers of

846
00:44:21,960 --> 00:44:26,680
Speaker 1: this acting Speaker, this protempt speaker, particularly if this becomes

847
00:44:26,760 --> 00:44:29,560
Speaker 1: protracted as we consider the idea of a possible shutdown,

848
00:44:29,600 --> 00:44:33,120
Speaker 1: could there be an agreement between an acting speaker and

849
00:44:33,200 --> 00:44:37,960
Speaker 1: the Conference that would allow him to have more powers

850
00:44:38,000 --> 00:44:40,760
Speaker 1: to introduce legislation dectually act as a speaker.

851
00:44:42,200 --> 00:44:46,320
Speaker 16: I don't think the theoretically, yes, Joe. In reality, I

852
00:44:46,400 --> 00:44:50,759
Speaker 16: think that is almost impossible. The Speaker's powers are what

853
00:44:50,840 --> 00:44:54,360
Speaker 16: they are, including constitutional You know, the only the Speaker

854
00:44:54,360 --> 00:44:56,480
Speaker 16: of the House is the only constitutional officer in the

855
00:44:56,520 --> 00:45:00,640
Speaker 16: House and represents the entire House, so you've got that,

856
00:45:01,760 --> 00:45:04,840
Speaker 16: But you know they're not going to be in as

857
00:45:04,920 --> 00:45:08,880
Speaker 16: long as the speaker is the temporary speaker. The speaker

858
00:45:08,920 --> 00:45:14,120
Speaker 16: pro temporary formally is in that position. You know that

859
00:45:14,160 --> 00:45:18,279
Speaker 16: person has many of the powers of the speaker, but

860
00:45:18,880 --> 00:45:23,480
Speaker 16: due to his now his temporary status, he doesn't really

861
00:45:23,480 --> 00:45:27,000
Speaker 16: have the ability to compel much of anything. So I

862
00:45:27,000 --> 00:45:30,320
Speaker 16: think I think McHenry starts from a pretty weak position

863
00:45:31,200 --> 00:45:35,279
Speaker 16: and would find it difficult to impossible to build out

864
00:45:35,440 --> 00:45:40,000
Speaker 16: strengths as you suggest in order to in order to

865
00:45:40,080 --> 00:45:42,520
Speaker 16: expedite the work of the House. Not impossible, but I

866
00:45:42,520 --> 00:45:43,760
Speaker 16: think right now it's unlikely.

867
00:45:45,280 --> 00:45:47,160
Speaker 12: So on the subject of the work of the House

868
00:45:47,200 --> 00:45:49,640
Speaker 12: and when it realistically is going to be able to

869
00:45:49,640 --> 00:45:52,960
Speaker 12: get done, knowing we are up against that November seventeenth deadline,

870
00:45:53,640 --> 00:45:56,640
Speaker 12: Congressman Michael McCall, who, as I was mentioning to Joe

871
00:45:56,680 --> 00:45:58,920
Speaker 12: we caught up with in the hallway earlier, said he's

872
00:45:58,920 --> 00:46:00,800
Speaker 12: pretty worried about a shutdown, that this whole thing is

873
00:46:00,840 --> 00:46:02,959
Speaker 12: just going to get a lot harder now that Kevin

874
00:46:03,000 --> 00:46:06,120
Speaker 12: McCarthy is gone. Where do you put the probability of

875
00:46:06,160 --> 00:46:08,240
Speaker 12: a shutdown come November seventeenth.

876
00:46:07,920 --> 00:46:11,239
Speaker 16: Terry, I was, as both of you know, I was

877
00:46:12,120 --> 00:46:16,560
Speaker 16: early two months early in telling people that a shut

878
00:46:16,560 --> 00:46:21,000
Speaker 16: down with seventy percent likely, way before most people got there,

879
00:46:21,120 --> 00:46:27,440
Speaker 16: you know, the moment that McCarthy was vacated out of

880
00:46:27,480 --> 00:46:31,440
Speaker 16: his position, I told markets, I thought the shutdown likelihood

881
00:46:31,480 --> 00:46:36,759
Speaker 16: was eighty percent. The difficulty to me is, i'd say ministerial,

882
00:46:36,840 --> 00:46:39,799
Speaker 16: and I've said that, I've said that before, but is

883
00:46:40,440 --> 00:46:41,920
Speaker 16: you know, the House is not really going to It's

884
00:46:41,960 --> 00:46:43,840
Speaker 16: not going to be able to do its work as quickly.

885
00:46:44,400 --> 00:46:46,880
Speaker 16: They're going to find difficulties getting to the floor. Technically

886
00:46:46,920 --> 00:46:49,279
Speaker 16: they can get to the floor and pass rules to

887
00:46:49,760 --> 00:46:52,200
Speaker 16: put things together and all the rest, but they're going

888
00:46:52,239 --> 00:46:54,120
Speaker 16: to be in a practical sense, they're going to be

889
00:46:54,160 --> 00:46:56,960
Speaker 16: hamstrung by not having a speaker there. It's going to

890
00:46:56,960 --> 00:46:59,560
Speaker 16: make it that much more difficult to referee disputes and

891
00:46:59,600 --> 00:47:02,040
Speaker 16: get things to the floor and be successful on the floor.

892
00:47:02,440 --> 00:47:05,520
Speaker 16: So so you know, I think this this puts a

893
00:47:05,560 --> 00:47:09,200
Speaker 16: new weight W E I G H T on the

894
00:47:09,239 --> 00:47:11,799
Speaker 16: House's ability to do its business, and that alone, I

895
00:47:11,800 --> 00:47:17,360
Speaker 16: think justifies a ramped up and more negative look at it.

896
00:47:18,400 --> 00:47:22,000
Speaker 12: Also probably a wait, W A I T if this

897
00:47:22,080 --> 00:47:23,360
Speaker 12: is going to take a while for them.

898
00:47:23,239 --> 00:47:25,680
Speaker 1: To be able to do these guys, you guys work

899
00:47:25,719 --> 00:47:28,759
Speaker 1: that out in advanced very mode. We're very The headline,

900
00:47:29,680 --> 00:47:32,600
Speaker 1: I know you're amazing. The headline on your client note.

901
00:47:32,680 --> 00:47:36,879
Speaker 1: Yesterday this went out at five in the afternoon. Everyone's waiting,

902
00:47:36,920 --> 00:47:40,640
Speaker 1: what does Terry you think about this house speaker? Ouster

903
00:47:40,960 --> 00:47:46,200
Speaker 1: markets negative market c Washington incompetent to govern? Terry? Does

904
00:47:46,239 --> 00:47:47,960
Speaker 1: this ensure a downgrade from Moody's.

905
00:47:49,760 --> 00:47:53,400
Speaker 16: I don't think insure as I think my gut is

906
00:47:53,440 --> 00:47:57,040
Speaker 16: they'd probably wait until November seventeenth. The way they put it,

907
00:47:57,040 --> 00:47:59,759
Speaker 16: the way Moodies put it out there was that they

908
00:47:59,800 --> 00:48:04,520
Speaker 16: saw downgrade possibility should there be a shutdown. So assuming

909
00:48:04,600 --> 00:48:07,000
Speaker 16: they think the same, and I have no reason to

910
00:48:07,120 --> 00:48:10,000
Speaker 16: know what they think right now, but assuming they think

911
00:48:10,040 --> 00:48:12,440
Speaker 16: the same, well then you know, should there be a shutdown,

912
00:48:12,520 --> 00:48:16,160
Speaker 16: then uh then you know, I think that's probably likely

913
00:48:16,280 --> 00:48:18,360
Speaker 16: er than not. Yeah, I mean, because they've already telegraphed

914
00:48:18,360 --> 00:48:21,799
Speaker 16: that very short, very shortly. I mean, you know what

915
00:48:21,840 --> 00:48:25,080
Speaker 16: I've said all along is that you know, it's it's

916
00:48:25,160 --> 00:48:27,839
Speaker 16: this is kind of interesting Washington small ball, but what

917
00:48:27,920 --> 00:48:31,000
Speaker 16: markets see is very different. What markets are already spooked

918
00:48:31,040 --> 00:48:35,480
Speaker 16: by is out of control fiscal Uh no, no sense

919
00:48:35,680 --> 00:48:38,560
Speaker 16: of when there when the Washington's going to deal with

920
00:48:38,640 --> 00:48:41,520
Speaker 16: debt and deficit. And now you know that that's ramped

921
00:48:41,640 --> 00:48:45,440
Speaker 16: up even more and uh, you know, so that's a danger.

922
00:48:45,840 --> 00:48:49,120
Speaker 16: And compounded with that is is the idea that you know,

923
00:48:49,160 --> 00:48:51,840
Speaker 16: I mean, French hill Aside and who's a very astute

924
00:48:51,840 --> 00:48:56,440
Speaker 16: guy and gets it. Somebody like French Aside though uh,

925
00:48:56,960 --> 00:49:00,360
Speaker 16: Washington's oblivious to everything that I just said, get it

926
00:49:00,400 --> 00:49:04,920
Speaker 16: at all. And and you know, the John Farah was

927
00:49:04,960 --> 00:49:08,640
Speaker 16: asking me yesterday about something that French said to surveillance,

928
00:49:08,680 --> 00:49:11,680
Speaker 16: which was you know that the you know, kind of

929
00:49:11,680 --> 00:49:13,120
Speaker 16: the right to be I think the right to be

930
00:49:13,200 --> 00:49:16,600
Speaker 16: reckless or you know, had gone. And you know, did

931
00:49:16,640 --> 00:49:18,640
Speaker 16: I think that was the case? And I said absolutely,

932
00:49:18,680 --> 00:49:21,040
Speaker 16: you know, but Washington has, you know, for a generation,

933
00:49:21,840 --> 00:49:23,520
Speaker 16: lived in this world where they can deal you know,

934
00:49:23,560 --> 00:49:26,000
Speaker 16: they can deal with fiscal things kind of recklessly because

935
00:49:26,000 --> 00:49:28,680
Speaker 16: there's no consequence well you know, coming down the pike,

936
00:49:28,760 --> 00:49:33,600
Speaker 16: our potential real consequences, and those consequences are being stoked

937
00:49:33,880 --> 00:49:35,279
Speaker 16: by what they're doing right now.

938
00:49:36,880 --> 00:49:38,839
Speaker 12: Well, Terry, speaking of what's happening right now, I want

939
00:49:38,840 --> 00:49:40,560
Speaker 12: to get your take on a headline that just crossed

940
00:49:40,600 --> 00:49:43,399
Speaker 12: the bloomberg. The minority leader in the Senate, Senator Mitch

941
00:49:43,480 --> 00:49:45,640
Speaker 12: McConnell is speaking to reporters and he said the next

942
00:49:45,640 --> 00:49:48,560
Speaker 12: speaker needs to ditch the motion to vacate. There's been

943
00:49:48,560 --> 00:49:50,239
Speaker 12: a lot of talk in the last twenty four hours

944
00:49:50,239 --> 00:49:52,560
Speaker 12: about maybe needing to change this rule where any one

945
00:49:52,600 --> 00:49:55,759
Speaker 12: individual can trigger this. Do you think there's a real

946
00:49:55,880 --> 00:49:59,239
Speaker 12: probability of that happening or could we be, say a

947
00:49:59,280 --> 00:50:01,680
Speaker 12: couple of months from now, talking about ousting another speaker,

948
00:50:01,719 --> 00:50:02,560
Speaker 12: whoever that may be.

949
00:50:03,760 --> 00:50:06,640
Speaker 16: I think in the I think in the next congress, uh,

950
00:50:06,719 --> 00:50:09,560
Speaker 16: dealing with that differently is likely. I think in this congress,

951
00:50:09,560 --> 00:50:13,080
Speaker 16: it's very unlikely. In this situation, it's very unlikely. And

952
00:50:13,120 --> 00:50:15,400
Speaker 16: the reason is it really comes down to hubris.

953
00:50:15,960 --> 00:50:16,280
Speaker 13: Uh.

954
00:50:16,640 --> 00:50:18,680
Speaker 16: You know, the Gates faction.

955
00:50:19,320 --> 00:50:19,560
Speaker 11: Uh.

956
00:50:19,840 --> 00:50:22,000
Speaker 16: You know, it has a lot of hubris going right now.

957
00:50:22,200 --> 00:50:25,920
Speaker 16: And I'll look forward to the five o'clock interview and

958
00:50:26,040 --> 00:50:27,120
Speaker 16: watch that very closely.

959
00:50:27,680 --> 00:50:29,399
Speaker 14: But the.

960
00:50:30,920 --> 00:50:33,600
Speaker 16: But you know, I know you're waiting for it too, Joe,

961
00:50:33,960 --> 00:50:38,160
Speaker 16: But the uh, the situation is, I keep going, I

962
00:50:38,239 --> 00:50:40,120
Speaker 16: keep thinking about how Anne Marie is going to handle this.

963
00:50:40,280 --> 00:50:41,680
Speaker 16: I know how you're going to handle it. But it's

964
00:50:41,680 --> 00:50:45,600
Speaker 16: like you know, and real dig right and as you will.

965
00:50:46,480 --> 00:50:48,799
Speaker 12: Different the best tease of all time.

966
00:50:52,200 --> 00:50:54,160
Speaker 16: You know, I'm very much looking forward to seeing it.

967
00:50:54,200 --> 00:50:57,320
Speaker 16: But the uh and see how he justifies himself this time.

968
00:50:57,719 --> 00:50:59,960
Speaker 16: But you know, the hubris at this point will be

969
00:51:00,200 --> 00:51:03,919
Speaker 16: such that, you know, any news speaker won't have any

970
00:51:04,000 --> 00:51:07,719
Speaker 16: more rope than the old speaker did. And for a

971
00:51:07,719 --> 00:51:10,080
Speaker 16: couple of reasons. One is they feel, like you know,

972
00:51:10,120 --> 00:51:13,360
Speaker 16: that maximizes their leverage. And secondly, to the extent that

973
00:51:13,400 --> 00:51:16,799
Speaker 16: this is personal between Gates and McCarthy and my moone

974
00:51:16,840 --> 00:51:18,960
Speaker 16: of you is that it is what you get is

975
00:51:19,000 --> 00:51:21,359
Speaker 16: a situation where they back off and all the same

976
00:51:21,400 --> 00:51:24,880
Speaker 16: they back off the single vote nakate, then it looks

977
00:51:24,880 --> 00:51:27,839
Speaker 16: like it actually was. It's an additional additional proof.

978
00:51:28,080 --> 00:51:31,560
Speaker 1: Terry Haynes. Email me your questions from Matt Gates from

979
00:51:31,600 --> 00:51:44,840
Speaker 1: Pangaea Policy. Terry Haynes on Bloomberg you're listening to The

980
00:51:44,840 --> 00:51:49,040
Speaker 1: Bloomberg Sound on podcast. Catch the program live weekdays at

981
00:51:49,040 --> 00:51:52,560
Speaker 1: one Eastern on Bloomberg Radio, the tune in app, Bloomberg

982
00:51:52,600 --> 00:51:54,720
Speaker 1: dot Com, and the Bloomberg Business App.

983
00:51:54,840 --> 00:51:57,719
Speaker 2: You can also listen live on Amazon Alexa from our

984
00:51:57,719 --> 00:51:58,959
Speaker 2: flagship New York station.

985
00:51:59,440 --> 00:52:05,719
Speaker 1: Just say play Bloomberg eleven. As we feel our way

986
00:52:05,719 --> 00:52:09,200
Speaker 1: through the woods here, uncharted territory is what I keep hearing,

987
00:52:09,719 --> 00:52:12,000
Speaker 1: and I'd say that's fair. After all, it was the

988
00:52:12,040 --> 00:52:15,320
Speaker 1: first time in history a speaker of the House was ousted.

989
00:52:15,440 --> 00:52:18,839
Speaker 1: Kaylee lyons, we've got one week to figure out potentially

990
00:52:19,400 --> 00:52:21,200
Speaker 1: who the next speaker is, or at least what the

991
00:52:21,239 --> 00:52:23,239
Speaker 1: field looks like. Maybe that's a better way to put it,

992
00:52:23,560 --> 00:52:26,120
Speaker 1: having gone through what we did in January with fifteen rounds,

993
00:52:26,160 --> 00:52:29,440
Speaker 1: remembering people can be drafted or nominated right there on

994
00:52:29,480 --> 00:52:31,239
Speaker 1: the floor. That's how Donald Trump got in the mix

995
00:52:31,320 --> 00:52:31,799
Speaker 1: last time.

996
00:52:32,040 --> 00:52:34,760
Speaker 12: It's very true. And I do have that question about

997
00:52:35,360 --> 00:52:38,239
Speaker 12: Kevin McCarthy because he said he's not going to run.

998
00:52:38,360 --> 00:52:42,840
Speaker 12: That's right, But could that mean that people still nominate

999
00:52:42,920 --> 00:52:45,200
Speaker 12: him even if he's not, like Jim Jordan and Steve's

1000
00:52:45,200 --> 00:52:47,440
Speaker 12: glee saying I'm actively running for this. I'm going to

1001
00:52:47,480 --> 00:52:50,680
Speaker 12: pursue it. They could just you know, it's like a shove.

1002
00:52:50,960 --> 00:52:52,920
Speaker 1: I threw this up in the air earlier today. It

1003
00:52:53,040 --> 00:52:55,279
Speaker 1: was it was batted down. But I'm glad that you're

1004
00:52:55,320 --> 00:52:57,880
Speaker 1: open to this idea because if we go through, you know,

1005
00:52:58,000 --> 00:53:00,640
Speaker 1: fifteen ballots, nobody can get to two eight. And Kevin's

1006
00:53:00,640 --> 00:53:02,359
Speaker 1: sitting back there. I know he said this.

1007
00:53:02,480 --> 00:53:06,280
Speaker 4: Will not run for speaker again. I'll have the conference

1008
00:53:06,280 --> 00:53:07,120
Speaker 4: pick somebody else.

1009
00:53:08,160 --> 00:53:10,560
Speaker 1: But imagine the cameras zooming in on him watching all

1010
00:53:10,600 --> 00:53:15,719
Speaker 1: of this, the sentimental music starts playing, somebody nominates him.

1011
00:53:16,200 --> 00:53:18,759
Speaker 1: I don't know. It's entirely possible, isn't it.

1012
00:53:19,120 --> 00:53:21,520
Speaker 12: But could even he get to eighteen if there's eight.

1013
00:53:21,400 --> 00:53:24,640
Speaker 1: Who votes, Well, there's a fair point. Maybe no one can.

1014
00:53:25,080 --> 00:53:26,480
Speaker 1: We'll just operates a.

1015
00:53:26,560 --> 00:53:27,759
Speaker 12: Very real probability.

1016
00:53:28,480 --> 00:53:30,960
Speaker 1: Can we do that for a while? Lester Munson is

1017
00:53:31,000 --> 00:53:33,080
Speaker 1: with us now, of course, co head of the international

1018
00:53:33,120 --> 00:53:35,279
Speaker 1: practice at BGR Group, but it's spent quite a bit

1019
00:53:35,320 --> 00:53:37,960
Speaker 1: of time on Capitol Hill, in both the House and

1020
00:53:38,000 --> 00:53:40,359
Speaker 1: the Senate. Lester, it's good to have you talk us

1021
00:53:40,400 --> 00:53:43,520
Speaker 1: off the ledge here. Kevin McCarthy says he's not going

1022
00:53:43,600 --> 00:53:45,440
Speaker 1: to run. Do we have our field? Is this going

1023
00:53:45,520 --> 00:53:47,760
Speaker 1: to be Jim Jordan versus Steve Scalise?

1024
00:53:49,160 --> 00:53:52,200
Speaker 17: It seems like it's Jordan versus Scales to me. But

1025
00:53:52,560 --> 00:53:56,160
Speaker 17: what if they can't get to the requisite number of votes?

1026
00:53:56,280 --> 00:53:58,879
Speaker 17: That opens it back up. I don't think you can

1027
00:53:58,920 --> 00:54:01,640
Speaker 17: really rule out any thing at this point. I don't

1028
00:54:01,640 --> 00:54:03,359
Speaker 17: know if that keeps you on the ledge or gets

1029
00:54:03,360 --> 00:54:06,520
Speaker 17: you off the ledge, but I think we're in for

1030
00:54:06,560 --> 00:54:08,720
Speaker 17: a lot of chaos in the near future.

1031
00:54:09,920 --> 00:54:12,280
Speaker 12: Well, Lester, as we talk about the requisite number of votes,

1032
00:54:12,320 --> 00:54:15,400
Speaker 12: is anyone who can get support of some of these hardliners,

1033
00:54:15,400 --> 00:54:18,600
Speaker 12: some of which Austin McCarthy, even those that didn't vote

1034
00:54:18,600 --> 00:54:21,640
Speaker 12: to oust him still had voiced a lot of disappointment

1035
00:54:21,719 --> 00:54:24,960
Speaker 12: with him in not advancing the conservative policies that they wanted.

1036
00:54:24,960 --> 00:54:28,080
Speaker 12: Can you get those people and also get the moderates?

1037
00:54:28,160 --> 00:54:30,200
Speaker 12: Is this even really, really possible.

1038
00:54:32,000 --> 00:54:34,360
Speaker 17: You know, I think some of this stuff is so

1039
00:54:34,920 --> 00:54:40,240
Speaker 17: personal and so idiosyncratic, going member my member, they almost

1040
00:54:40,320 --> 00:54:43,280
Speaker 17: have each one has different reasons for doing what they're doing,

1041
00:54:43,400 --> 00:54:47,120
Speaker 17: and so can Scalice be the person who rises above

1042
00:54:47,160 --> 00:54:50,799
Speaker 17: all of that stuff and get enough support from the

1043
00:54:50,920 --> 00:54:55,160
Speaker 17: Republican Conference to become speaker? Maybe can Jordan do it?

1044
00:54:55,520 --> 00:54:57,560
Speaker 17: I do think it's less likely Jordan can do it,

1045
00:54:57,560 --> 00:54:58,960
Speaker 17: but I wouldn't rule it out.

1046
00:55:00,840 --> 00:55:01,040
Speaker 2: This.

1047
00:55:01,280 --> 00:55:04,960
Speaker 17: You know, Kevin McCarthy did some amazing stuff in just

1048
00:55:05,040 --> 00:55:06,799
Speaker 17: the few months he was speaker, a lot of things

1049
00:55:06,840 --> 00:55:09,960
Speaker 17: people didn't think he could do, but we all kind

1050
00:55:09,960 --> 00:55:12,640
Speaker 17: of knew that he was going to this judgment day

1051
00:55:12,760 --> 00:55:16,160
Speaker 17: was coming based on the number of people who were

1052
00:55:16,200 --> 00:55:19,040
Speaker 17: skeptical of his speakership and how thin a majority he

1053
00:55:19,120 --> 00:55:21,600
Speaker 17: had at the end of the day. The reason Republicans

1054
00:55:21,640 --> 00:55:24,000
Speaker 17: are in this position is because they have such a

1055
00:55:24,120 --> 00:55:27,799
Speaker 17: small majority. If that doesn't change this, this is just

1056
00:55:27,840 --> 00:55:28,840
Speaker 17: going to keep ongoing.

1057
00:55:30,880 --> 00:55:32,799
Speaker 1: The closer you get to the sun here, though, when

1058
00:55:32,800 --> 00:55:36,399
Speaker 1: it comes to allies of Kevin McCarthy, the more problematic

1059
00:55:37,000 --> 00:55:39,200
Speaker 1: this could be next week, right, I mean, Steve Scalise

1060
00:55:39,400 --> 00:55:43,319
Speaker 1: is not too many shades away from Kevin McCarthy when

1061
00:55:43,320 --> 00:55:46,280
Speaker 1: it comes to policy, and he's certainly been an avid

1062
00:55:46,320 --> 00:55:50,239
Speaker 1: supporter or was of Kevin McCarthy as speaker. So if

1063
00:55:50,239 --> 00:55:52,480
Speaker 1: you're a Matt Gates, are one of these ten Republicans

1064
00:55:52,480 --> 00:55:54,720
Speaker 1: who didn't like McCarthy, would you like Scalise?

1065
00:55:55,440 --> 00:55:55,560
Speaker 5: Well?

1066
00:55:55,560 --> 00:55:58,480
Speaker 17: I think I think Gates has specifically said he would

1067
00:55:58,760 --> 00:56:02,000
Speaker 17: he would think favorably about scalise candidacy. But but does

1068
00:56:02,040 --> 00:56:04,680
Speaker 17: that matter to the other voices or are there other

1069
00:56:04,800 --> 00:56:08,920
Speaker 17: voices within the conference that that don't like Congressman Scalise.

1070
00:56:09,040 --> 00:56:13,520
Speaker 17: There it just takes five really to oppose the nominee

1071
00:56:13,600 --> 00:56:16,440
Speaker 17: for that nominee to not become speaker, and then we're

1072
00:56:16,480 --> 00:56:19,880
Speaker 17: back where we were in January, where no one member

1073
00:56:19,920 --> 00:56:23,680
Speaker 17: can get a majority of the votes of those who

1074
00:56:23,760 --> 00:56:26,520
Speaker 17: are present on the floor at that time, and so

1075
00:56:26,560 --> 00:56:28,319
Speaker 17: we're going to all be going back to doing math.

1076
00:56:28,440 --> 00:56:32,000
Speaker 17: So who can who can get you know, the Republican

1077
00:56:32,120 --> 00:56:35,960
Speaker 17: Conference enough enough of those votes only lose two or

1078
00:56:35,960 --> 00:56:38,960
Speaker 17: three votes and get to be speaker. I don't think

1079
00:56:39,000 --> 00:56:42,000
Speaker 17: we know yet, and it's it's not it may take

1080
00:56:42,080 --> 00:56:45,080
Speaker 17: a few a few turns, you know, times around the

1081
00:56:45,080 --> 00:56:47,760
Speaker 17: block to figure out who's going to prevail. Here, this

1082
00:56:47,760 --> 00:56:49,600
Speaker 17: this could drag on for a few days.

1083
00:56:51,440 --> 00:56:53,719
Speaker 12: Well, we've seen it drag on for a few days

1084
00:56:53,719 --> 00:56:56,200
Speaker 12: back in January when it was Speaker McCarthy trying to

1085
00:56:56,200 --> 00:56:58,239
Speaker 12: get this done. It took four days, fifteen rounds, as

1086
00:56:58,280 --> 00:57:00,560
Speaker 12: we all know quite well. And no knowing that this

1087
00:57:00,600 --> 00:57:03,080
Speaker 12: fight is going to go down within just weeks of

1088
00:57:03,640 --> 00:57:07,760
Speaker 12: November seventeenth, when government funding is going to expire, Lester,

1089
00:57:08,560 --> 00:57:10,440
Speaker 12: is the House going to be so focused on its

1090
00:57:10,480 --> 00:57:13,840
Speaker 12: own internal dynamics that the regular business just does not

1091
00:57:14,000 --> 00:57:14,680
Speaker 12: get done.

1092
00:57:15,520 --> 00:57:19,000
Speaker 17: Well, like, yeah, for a long time. Yeah, Because because

1093
00:57:19,000 --> 00:57:21,200
Speaker 17: you can't do anything on the floor until you have

1094
00:57:21,280 --> 00:57:25,200
Speaker 17: an elected speaker. So the demands of the kind of

1095
00:57:25,240 --> 00:57:29,400
Speaker 17: the chaos caucus here, which is we want votes on

1096
00:57:29,440 --> 00:57:31,760
Speaker 17: the individual appropriation spills, which by the way, is kind

1097
00:57:31,760 --> 00:57:37,240
Speaker 17: of a sensible thing. Strangely, you can't do that until

1098
00:57:37,280 --> 00:57:41,320
Speaker 17: you have a speaker. So the longer time they spend

1099
00:57:41,480 --> 00:57:43,400
Speaker 17: on picking a speaker, the less time they have to

1100
00:57:43,400 --> 00:57:45,440
Speaker 17: do the things they say they want to do on

1101
00:57:45,480 --> 00:57:49,120
Speaker 17: the floor before we run into the time limit on

1102
00:57:49,160 --> 00:57:51,160
Speaker 17: the currency area and the other kind of tick and

1103
00:57:51,160 --> 00:57:54,320
Speaker 17: time bomb here is ad Ukraine. At a certain point,

1104
00:57:54,320 --> 00:57:56,600
Speaker 17: we're we're going to see a date emerge where we

1105
00:57:56,640 --> 00:57:58,560
Speaker 17: really where Congress is really going to need to act

1106
00:57:59,040 --> 00:58:02,040
Speaker 17: or to keep that pipe line of assistance going to

1107
00:58:02,200 --> 00:58:05,360
Speaker 17: Ukraine to sustain the effort against Russia. And so there's

1108
00:58:05,520 --> 00:58:09,240
Speaker 17: there are multiple complicating factors here, and the more time

1109
00:58:09,280 --> 00:58:12,360
Speaker 17: they spend on selecting the speaker, the harder those other

1110
00:58:12,400 --> 00:58:13,200
Speaker 17: things are going to become.

1111
00:58:14,600 --> 00:58:16,640
Speaker 1: We're going to be spending some time with Congressman Matt

1112
00:58:16,680 --> 00:58:20,479
Speaker 1: Gats a little bit later on today, Lester, what would

1113
00:58:20,480 --> 00:58:23,600
Speaker 1: you ask him?

1114
00:58:25,960 --> 00:58:30,560
Speaker 17: Well, I think I think you might want to ask him,

1115
00:58:31,480 --> 00:58:35,600
Speaker 17: how does he is he willing to compromise on any

1116
00:58:35,680 --> 00:58:38,040
Speaker 17: of his issues in order to get done the things

1117
00:58:38,040 --> 00:58:40,680
Speaker 17: he wants to get done? In other words, at a

1118
00:58:40,680 --> 00:58:43,200
Speaker 17: certain point, don't you have to trade? Don't you have

1119
00:58:43,360 --> 00:58:47,520
Speaker 17: to go for the good, good solution rather than the

1120
00:58:47,520 --> 00:58:51,040
Speaker 17: perfect solution. Are you willing to support a candidate for

1121
00:58:51,200 --> 00:58:53,600
Speaker 17: speaker who will do the things that you say you

1122
00:58:53,640 --> 00:58:55,720
Speaker 17: want to have done, even if you don't agree with

1123
00:58:55,760 --> 00:58:57,880
Speaker 17: that person on every single thing? Like, is there any

1124
00:58:57,920 --> 00:59:00,680
Speaker 17: compromising you at all on these issues? Because if you

1125
00:59:00,760 --> 00:59:03,320
Speaker 17: keep insisting on the one thing, you're not going to

1126
00:59:03,400 --> 00:59:05,400
Speaker 17: get the other thing. So at what point does that

1127
00:59:06,000 --> 00:59:08,000
Speaker 17: are you willing to compromise to balance out the things

1128
00:59:08,000 --> 00:59:08,880
Speaker 17: that you're asking for.

1129
00:59:11,640 --> 00:59:15,240
Speaker 12: I look forward to seeing how he answers that question. Lester.

1130
00:59:15,440 --> 00:59:17,720
Speaker 12: Just finally, because if you're watching on YouTube, you see

1131
00:59:17,760 --> 00:59:21,320
Speaker 12: Lester has a Chicago Bears pillow in the background. Lester,

1132
00:59:21,360 --> 00:59:24,200
Speaker 12: I'm a Broncos fan, good and I think last weekend

1133
00:59:24,200 --> 00:59:27,160
Speaker 12: maybe the only game we will win this season potentially.

1134
00:59:27,240 --> 00:59:28,920
Speaker 12: But he did beat you, guys. I'm very sorry for

1135
00:59:28,960 --> 00:59:29,480
Speaker 12: your loss.

1136
00:59:30,680 --> 00:59:32,680
Speaker 17: It's hard to be a Bears fan today. It's also

1137
00:59:32,880 --> 00:59:35,360
Speaker 17: hard to be a Republican these days. But you know

1138
00:59:35,400 --> 00:59:38,920
Speaker 17: we will. We will soldier on.

1139
00:59:38,920 --> 00:59:42,440
Speaker 1: Only Lester could get out of that so smoothly, Lester

1140
00:59:42,560 --> 00:59:47,800
Speaker 1: Munson with apologies, Kayley Lines, well done. I'm Joe Matthew

1141
00:59:47,800 --> 00:59:52,040
Speaker 1: in Washington. Thanks for listening to the sound On podcast.

1142
00:59:52,120 --> 00:59:55,240
Speaker 1: Make sure to subscribe if you haven't already, at Apple, Spotify,

1143
00:59:55,280 --> 00:59:57,720
Speaker 1: and anywhere else you get your podcasts, and you can

1144
00:59:57,760 --> 01:00:00,600
Speaker 1: find us live every weekday from Washington, d C. At

1145
01:00:00,600 --> 01:00:05,320
Speaker 1: one pm Eastern time at Bloomberg dot com.