WEBVTT - Single Best Idea with Tom Keene: Andreas Utermann & Patrick Murphy

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Single best idea the news slog continues. It's just absolutely extraordinary.

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<v Speaker 2>It's on a daily basis. It's exhausting. The way we

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<v Speaker 2>do this is an incredible team, starting with one tours

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<v Speaker 2>booking all the guests, saying that people know, I'm sorry

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<v Speaker 2>we have to cancel to other people where we can

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<v Speaker 2>book all sorts of quality voices, and you'll hear that

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<v Speaker 2>across the coming days of his war in the market

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<v Speaker 2>reaction that we see to it. What a joy today

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<v Speaker 2>to have Edward Yordnny with us to reaffirm his optimism

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<v Speaker 2>on the markets. But we did do a lot of

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<v Speaker 2>war coverage. Andreas Uderman is chairman of the board of

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<v Speaker 2>a toe Belle, hugely experienced within Continental Europe Dynamics. Andrea

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<v Speaker 2>Utdterman on the unknown unknowns.

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<v Speaker 3>I'm not smart enough to know the unknown unknowns, but

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<v Speaker 3>what i can tell you is I'm slightly less concerned

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<v Speaker 3>than I was, and I was concerned in two thousand

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<v Speaker 3>and seven, eight and nine, because ultimately the transmission mechanism

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<v Speaker 3>of this going wrong initially is going to be probably

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<v Speaker 3>consumers savers and not systemically into the banking system. Now,

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<v Speaker 3>as you say there might be unknown unknowns. I mean,

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<v Speaker 3>you know, one of our competitors in Switzerland had loans

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<v Speaker 3>on the balance sheet nobody knew about, and so that

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<v Speaker 3>was an unknown and who knows what banks have done

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<v Speaker 3>that nobody knows about. But right now there's no evidence

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<v Speaker 3>of that.

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<v Speaker 2>Too short a conversation with Andreas Uderin this morning that

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<v Speaker 2>was into the press conference. Thanks to our Washington team

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<v Speaker 2>for all their assistants and the Pentagon briefing of the

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<v Speaker 2>Secretary of Defense and the Chairman of the Joint Chiefs

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<v Speaker 2>of Staff. We got a briefing of huge quality from

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<v Speaker 2>the former Undersecretary of the Army. He has had public

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<v Speaker 2>service in the eighth Congressional District of Pennsylvania, Patrick Murphy.

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<v Speaker 4>Of hillco On the moment, great generals like General Colin

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<v Speaker 4>Powell is one of my role models who I get

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<v Speaker 4>to know. We followed after Vietnam what's called the Powell doctrine,

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<v Speaker 4>where you have a clear mission, you use overwhelming forced

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<v Speaker 4>accomplishment mission, and you have a clear extra strategy. There

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<v Speaker 4>is no extra strategy here. The mission is yep, let's

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<v Speaker 4>decimate the Iranian ballistic missiles, etc. I get it, but

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<v Speaker 4>you can't necessarily do that with just air power.

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<v Speaker 2>Patrick Murphy, with a Service to the Nation in Iraq

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<v Speaker 2>in the United States Army on podcasts on Apple, on Spotify,

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<v Speaker 2>on YouTube podcasts. It's single best idea