1 00:00:00,720 --> 00:00:03,680 Speaker 1: Live from our nation's caral. All Talk here in Washington, 2 00:00:03,760 --> 00:00:07,880 Speaker 1: d C. Turns to President elect Joe Biden's administration. Historically speaking, 3 00:00:07,880 --> 00:00:10,320 Speaker 1: the markets have perform better when there is divided government. 4 00:00:10,440 --> 00:00:14,200 Speaker 1: The biggest pressure for physical stimulus is an off taking cases. 5 00:00:14,320 --> 00:00:19,320 Speaker 1: Bloomberg Sound on, the insiders, the influencers, the inside. Biden 6 00:00:19,400 --> 00:00:22,240 Speaker 1: has promised again and again they he will unite the 7 00:00:22,280 --> 00:00:25,759 Speaker 1: country's state government's control elections as in the Constitution. I 8 00:00:25,800 --> 00:00:29,720 Speaker 1: think that we can expect a smooth, thoughtful, methodical transition. 9 00:00:29,960 --> 00:00:34,520 Speaker 1: This is Bloomberg. Sound on with Kevin Shirley on Bloomberg 10 00:00:35,760 --> 00:00:37,800 Speaker 1: and one oh five point seven f m h D 11 00:00:37,920 --> 00:00:41,720 Speaker 1: two vaccine roll out. This as first Americans in the 12 00:00:41,800 --> 00:00:44,440 Speaker 1: United States are getting their vaccine. All of that, as 13 00:00:44,479 --> 00:00:49,640 Speaker 1: President elect Joe Biden getting the electoral votes. It's all beneficial. Meanwhile, 14 00:00:49,880 --> 00:00:54,440 Speaker 1: lawmakers on Capitol Hill unveil a bipartisan stimulus proposal. Lots 15 00:00:54,440 --> 00:00:56,560 Speaker 1: to get through. We begin tonight with the big story, 16 00:00:57,120 --> 00:01:00,240 Speaker 1: and that is, of course, talks of fiscal stimulus. Here 17 00:01:00,320 --> 00:01:03,920 Speaker 1: Sound on from st A Majority Leader Mitch McConnell. Earlier today, 18 00:01:04,080 --> 00:01:06,560 Speaker 1: I can speak for the Republican side. We want to 19 00:01:06,560 --> 00:01:10,039 Speaker 1: make a law to agree where we can and help 20 00:01:10,080 --> 00:01:12,800 Speaker 1: people who need it. I hope and believe that my 21 00:01:12,880 --> 00:01:15,720 Speaker 1: Democratic colleagues will feel the same way. It's about time 22 00:01:15,800 --> 00:01:20,200 Speaker 1: to get this done. Meanwhile, literally right now, on Capitol Hill, 23 00:01:20,240 --> 00:01:23,560 Speaker 1: we are carefully monitoring a bipartisan group of lawmakers who 24 00:01:23,640 --> 00:01:28,160 Speaker 1: are unveiling new COVID relief legislation. As the nation's first 25 00:01:28,280 --> 00:01:32,520 Speaker 1: vaccinations finally get into the US bloodstream. Take a listen 26 00:01:32,560 --> 00:01:36,040 Speaker 1: to Health Secretary Azar from over the weekend. Each Friday 27 00:01:36,080 --> 00:01:39,360 Speaker 1: from here on out, we will announce new weekly allocations 28 00:01:39,400 --> 00:01:43,480 Speaker 1: of vaccine. Josh that another vaccine may be authorized in 29 00:01:43,520 --> 00:01:47,600 Speaker 1: the coming days if it meets FDA's rigorous standards. Josh 30 00:01:47,600 --> 00:01:51,920 Speaker 1: Wingrove covers all things Bloomberg of politics at the White House. Josh, 31 00:01:51,960 --> 00:01:56,520 Speaker 1: I mean two major stories, vaccines getting into American people's lives, 32 00:01:56,720 --> 00:01:59,000 Speaker 1: and of course the talks of fiscal stimulus. How's the 33 00:01:59,000 --> 00:02:04,120 Speaker 1: White House reacting? Well, uh, think you to keep a 34 00:02:04,120 --> 00:02:06,560 Speaker 1: pretty low profile here. I mean, the President just released 35 00:02:06,560 --> 00:02:09,720 Speaker 1: the video. As you know, he's been celebrating the vaccine 36 00:02:09,720 --> 00:02:12,000 Speaker 1: and not really doing much else to sort of slow 37 00:02:12,160 --> 00:02:15,320 Speaker 1: the spread of the pandemic, and that has raised and 38 00:02:15,400 --> 00:02:18,560 Speaker 1: concerns because it's gonna be a while yet before people, 39 00:02:19,000 --> 00:02:22,840 Speaker 1: you know, average folks who don't have high risk profiles, 40 00:02:23,000 --> 00:02:24,960 Speaker 1: are able to get this vaccine. But you know this 41 00:02:25,040 --> 00:02:28,440 Speaker 1: is still you know, a watershed moment. Uh. You know 42 00:02:28,760 --> 00:02:33,079 Speaker 1: it will be followed, presumably by approvals of other vaccines, 43 00:02:33,720 --> 00:02:37,600 Speaker 1: namely madernas, perhaps as soon as next week. Uh. And 44 00:02:37,680 --> 00:02:39,560 Speaker 1: so you know, we could we could see these numbers 45 00:02:39,560 --> 00:02:41,720 Speaker 1: start to ramp up, but we're not out of the 46 00:02:41,720 --> 00:02:44,600 Speaker 1: woods yet. Uh. And you know we'll we'll see. As 47 00:02:44,600 --> 00:02:47,840 Speaker 1: for the stimulus package, I mean, we had this foray, 48 00:02:47,960 --> 00:02:50,760 Speaker 1: I guess you'd call it at the Treasury Secretary sort 49 00:02:50,760 --> 00:02:53,200 Speaker 1: of waltzing in last week to try to make a 50 00:02:53,240 --> 00:02:55,920 Speaker 1: new offer. It seems to basically have gone nowhere. You 51 00:02:55,960 --> 00:03:01,280 Speaker 1: mentioned this bipartisan group there, there's proposal is almost split. 52 00:03:01,440 --> 00:03:04,200 Speaker 1: They're trying to divide it into two bills, two chunks, 53 00:03:04,680 --> 00:03:06,520 Speaker 1: to try to see what is more palatable. It's not 54 00:03:06,560 --> 00:03:08,280 Speaker 1: clear that we're all that much further ahead than we 55 00:03:08,320 --> 00:03:10,960 Speaker 1: have been in a while, but there looks certainly they're 56 00:03:11,240 --> 00:03:13,320 Speaker 1: people are making noises about trying to get something done 57 00:03:13,320 --> 00:03:15,280 Speaker 1: before the holidays. Well we shouldn't know what I mean, 58 00:03:15,320 --> 00:03:18,120 Speaker 1: you rightfully called it a watershed moment. This is an 59 00:03:18,160 --> 00:03:21,000 Speaker 1: historic moment that a vaccine would be developed so quickly 60 00:03:21,040 --> 00:03:24,200 Speaker 1: in a matter of eight months. The politicization obviously coming 61 00:03:24,240 --> 00:03:27,560 Speaker 1: in an election year uh in which the current occupant 62 00:03:27,600 --> 00:03:29,560 Speaker 1: of the White House is now in his final weeks 63 00:03:30,120 --> 00:03:33,360 Speaker 1: until the new administration goes in. But in New York, 64 00:03:33,400 --> 00:03:37,040 Speaker 1: North Carolina, North Dakota, and across the United States, the 65 00:03:37,040 --> 00:03:40,920 Speaker 1: first COVID nineteen shots were ministers by hospitals all throughout 66 00:03:40,960 --> 00:03:43,560 Speaker 1: the day today. This is a massive initial step and 67 00:03:43,600 --> 00:03:46,520 Speaker 1: what is an historic drive to vaccinate millions of people 68 00:03:46,920 --> 00:03:50,240 Speaker 1: just this week alone in Queens, New York, for example, 69 00:03:50,320 --> 00:03:53,600 Speaker 1: critical care nurse Sandra Lindsay, I'm reading from the Bloomberg 70 00:03:53,680 --> 00:03:56,480 Speaker 1: Terminal received the first shot in the state. At Long 71 00:03:56,520 --> 00:04:00,480 Speaker 1: Island Jewish Medical Center and Charlotte, North Carolina. It was 72 00:04:00,560 --> 00:04:05,880 Speaker 1: Katie Parisetti, the medical director of infection Prevention at Atrium Health. 73 00:04:06,040 --> 00:04:08,480 Speaker 1: You know, I say all of this, folks, because we've 74 00:04:08,480 --> 00:04:11,480 Speaker 1: been waiting. We've been waiting some, I mean most have 75 00:04:11,520 --> 00:04:14,600 Speaker 1: been waiting patiently. I'll speak for myself. Some days I 76 00:04:14,680 --> 00:04:17,800 Speaker 1: was very impatient in terms of finally getting a vaccine. Well, 77 00:04:17,800 --> 00:04:20,640 Speaker 1: today we have it. Today is the beginning of the end. 78 00:04:20,960 --> 00:04:24,560 Speaker 1: The vaccine is here, it's going it's going to be 79 00:04:24,720 --> 00:04:28,440 Speaker 1: millions of the vaccines coming by this month. And then 80 00:04:28,480 --> 00:04:31,200 Speaker 1: you've got President elect Joe Biden promising for there to 81 00:04:31,279 --> 00:04:35,279 Speaker 1: be a hundred million vaccines within his first one hundred days. 82 00:04:35,720 --> 00:04:38,200 Speaker 1: The President Joshua grips with us he's at the White House, 83 00:04:38,279 --> 00:04:40,520 Speaker 1: or he covers the White House for us, the President 84 00:04:40,800 --> 00:04:43,760 Speaker 1: rightfully to some extent, doing a victory lap. I mean, 85 00:04:43,800 --> 00:04:47,160 Speaker 1: he's got the vaccine. Look, he's gonna be the politics 86 00:04:47,200 --> 00:04:48,800 Speaker 1: will keep out of it for a second. But this 87 00:04:48,880 --> 00:04:51,080 Speaker 1: is a watershed moment. So how did they market today? 88 00:04:51,120 --> 00:04:54,640 Speaker 1: Just the facts? Please? Yeah, well, we really haven't heard 89 00:04:54,640 --> 00:04:57,760 Speaker 1: from the president today. It's been a little unusual, I think, 90 00:04:57,800 --> 00:05:00,400 Speaker 1: you know, and you mentioned that hundred million. Number one 91 00:05:00,440 --> 00:05:02,760 Speaker 1: thing they have said is, look, Biden is actually pledging 92 00:05:03,279 --> 00:05:06,960 Speaker 1: a slower pace than the Trump administration. Is the Trump 93 00:05:06,960 --> 00:05:10,359 Speaker 1: administration things they can have a hundred million people vaccinated 94 00:05:10,360 --> 00:05:12,800 Speaker 1: by the end of February. Biden is saying that will 95 00:05:12,800 --> 00:05:15,039 Speaker 1: take me into April. Now, the difference there is the 96 00:05:15,040 --> 00:05:18,760 Speaker 1: Biden thinks that the Trump folks aren't being straightforward. They 97 00:05:18,760 --> 00:05:21,000 Speaker 1: think that they're overestimating how quickly you could do it. So, 98 00:05:21,400 --> 00:05:23,520 Speaker 1: you know what, I don't want to rain on every parade, 99 00:05:23,520 --> 00:05:25,680 Speaker 1: and then not if we could have parties, I wouldn't 100 00:05:25,680 --> 00:05:27,320 Speaker 1: be a very fun guest with them these days. But 101 00:05:28,240 --> 00:05:30,640 Speaker 1: Biden is sort of flashing a warning sign that things 102 00:05:30,720 --> 00:05:33,599 Speaker 1: might not go as quickly as we want now. Anthony 103 00:05:33,640 --> 00:05:37,960 Speaker 1: Fauci did an interview with our colleagues over at Bloomberg 104 00:05:38,080 --> 00:05:40,520 Speaker 1: Law today and he said that that one of the 105 00:05:40,640 --> 00:05:44,159 Speaker 1: key crosshoads were coming to is another vaccine candidate, Johnson 106 00:05:44,160 --> 00:05:46,800 Speaker 1: and Johnson. And the reason it's important is it's a 107 00:05:46,839 --> 00:05:50,359 Speaker 1: different kind of vaccine, a different design of vaccine, and 108 00:05:50,400 --> 00:05:53,760 Speaker 1: if it is good, if it shows the same progress 109 00:05:53,800 --> 00:05:55,600 Speaker 1: that the first to have, both of which are a 110 00:05:55,600 --> 00:05:58,480 Speaker 1: different kind of vaccine, then he's signaling that that will 111 00:05:58,480 --> 00:06:00,839 Speaker 1: be a really positive sign. That means that we're going 112 00:06:00,880 --> 00:06:02,720 Speaker 1: to have a lot of tools, you know, a lot 113 00:06:02,720 --> 00:06:04,560 Speaker 1: of vaccines that are gonna work. But if Johnson and 114 00:06:04,640 --> 00:06:07,600 Speaker 1: Johnson doesn't work out, then it's sort of shows that 115 00:06:07,640 --> 00:06:10,000 Speaker 1: our eggs are sort of in the basket. Advisor and 116 00:06:10,080 --> 00:06:13,240 Speaker 1: Maderna and that type of vaccine, which could be a 117 00:06:13,240 --> 00:06:16,000 Speaker 1: little trickier because those two require a couple of doses 118 00:06:16,600 --> 00:06:20,599 Speaker 1: and in certain storage conditions were really good job. Josh 119 00:06:20,680 --> 00:06:23,840 Speaker 1: is doing a really good job of being able to 120 00:06:24,000 --> 00:06:27,240 Speaker 1: really walk through all of the different scenarios that are here. 121 00:06:27,240 --> 00:06:29,600 Speaker 1: But I gotta say, I mean, you wake up today. 122 00:06:29,640 --> 00:06:31,920 Speaker 1: It was a great day. The Eagles one yesterday against 123 00:06:31,960 --> 00:06:34,640 Speaker 1: the Saints. The vaccines now in the Americans like guys, 124 00:06:35,080 --> 00:06:38,640 Speaker 1: and and this is optimism. I mean, regardless of what 125 00:06:38,680 --> 00:06:42,159 Speaker 1: Fauci says, regardless of what the politicians say, We're still 126 00:06:42,200 --> 00:06:44,680 Speaker 1: on track. No one is. No one is ending this 127 00:06:44,760 --> 00:06:46,800 Speaker 1: year saying that we don't have the vaccine. No one's 128 00:06:46,880 --> 00:06:49,080 Speaker 1: ending this year saying that things aren't going to return 129 00:06:49,480 --> 00:06:52,200 Speaker 1: to some type of normalcy beyond the third or fourth 130 00:06:52,240 --> 00:06:54,720 Speaker 1: quarter of next year. And so things are moving along. 131 00:06:55,040 --> 00:06:57,479 Speaker 1: What else in terms of let's go back to politics now, 132 00:06:57,520 --> 00:07:00,080 Speaker 1: because we have to what's going on with Georgia the 133 00:07:00,080 --> 00:07:04,440 Speaker 1: White House? Well, we we don't know whether the president's 134 00:07:04,440 --> 00:07:05,960 Speaker 1: going to make another trip yet, we don't know whether 135 00:07:06,000 --> 00:07:08,919 Speaker 1: he's going down to Florida for the holidays yet. But 136 00:07:09,279 --> 00:07:11,560 Speaker 1: you know, they Republicans seemed to be a new guilty 137 00:07:11,560 --> 00:07:13,200 Speaker 1: hearing the same things gave and I'm sure that the 138 00:07:13,240 --> 00:07:16,360 Speaker 1: Republicans seemed pretty confident in those races. I have a 139 00:07:16,360 --> 00:07:19,280 Speaker 1: hard time finding Democrats that we'll stay with the straight 140 00:07:19,320 --> 00:07:23,080 Speaker 1: face if they feel good. Certainly both, but even one 141 00:07:23,280 --> 00:07:25,520 Speaker 1: of the two runoffs there. So you know, I think 142 00:07:25,520 --> 00:07:29,000 Speaker 1: things are baking in a particular direction. But time will tell. 143 00:07:29,040 --> 00:07:31,840 Speaker 1: We've been surprised before. We'll see. But you know, I think, 144 00:07:32,440 --> 00:07:35,200 Speaker 1: uh that might steer a lot of the steamless talks. 145 00:07:35,560 --> 00:07:38,480 Speaker 1: And you know, today we've got the Electoral College voting, 146 00:07:38,480 --> 00:07:40,440 Speaker 1: and we expect to hear from Biden in a few hours. 147 00:07:40,800 --> 00:07:43,280 Speaker 1: He's going to try to move past this saity. Electoral 148 00:07:43,280 --> 00:07:45,920 Speaker 1: College has spoken, let's move on. But I think I 149 00:07:45,920 --> 00:07:48,880 Speaker 1: think you and I both agree that the President Trump 150 00:07:48,880 --> 00:07:50,560 Speaker 1: isn't the type to sort of drop that. I think 151 00:07:50,560 --> 00:07:52,640 Speaker 1: we'll continue to see him sort of so doubt in 152 00:07:52,720 --> 00:07:56,760 Speaker 1: these results through to January afterwards. So this is interesting. 153 00:07:56,760 --> 00:07:58,800 Speaker 1: I just learned something. So how do you think that 154 00:07:58,880 --> 00:08:00,760 Speaker 1: the Josh win you're how do you think that the 155 00:08:00,800 --> 00:08:04,239 Speaker 1: results of the Georgia election could inform the fiscal stimulus talcks? 156 00:08:06,320 --> 00:08:07,840 Speaker 1: That's a good question. I mean, I think what we've 157 00:08:07,880 --> 00:08:11,040 Speaker 1: seen Pelosi come off, come off her position a little 158 00:08:11,040 --> 00:08:12,840 Speaker 1: bit when she got cut down a bit in the House. 159 00:08:12,880 --> 00:08:15,400 Speaker 1: I think that if Democrats, you know, dren't able to 160 00:08:15,400 --> 00:08:17,080 Speaker 1: break through in the Senate and they're going to have 161 00:08:17,120 --> 00:08:19,280 Speaker 1: to sort of choke down what McConnell wants. Of course, 162 00:08:19,280 --> 00:08:21,440 Speaker 1: if they do get a big breakthrough in the Senate, 163 00:08:21,520 --> 00:08:23,720 Speaker 1: and I think they could really you know, pursue some 164 00:08:23,760 --> 00:08:26,679 Speaker 1: of them more like blow the barn doors open type 165 00:08:26,760 --> 00:08:29,440 Speaker 1: scenarios that they want. But I don't know. We're hearing 166 00:08:29,440 --> 00:08:31,320 Speaker 1: from Congress and this bi partisan group. You know, not 167 00:08:31,360 --> 00:08:33,840 Speaker 1: a lot happened and watchington by partisan these days. You know, 168 00:08:33,880 --> 00:08:36,680 Speaker 1: they're saying, look, there's pain out there. People have lost 169 00:08:36,720 --> 00:08:38,920 Speaker 1: their jobs, that behind them their rent, if they aren't 170 00:08:38,920 --> 00:08:42,120 Speaker 1: already evicted. Congress needs to do something about it. It's 171 00:08:42,160 --> 00:08:44,520 Speaker 1: been months since they've done something about it. Many things 172 00:08:44,600 --> 00:08:47,360 Speaker 1: they have done has since expired. And you know, I 173 00:08:48,720 --> 00:08:51,200 Speaker 1: the President is basically neither standing in the way of it. 174 00:08:51,240 --> 00:08:53,280 Speaker 1: He's not thrunning a vito or anything like that, but 175 00:08:53,360 --> 00:08:55,559 Speaker 1: it's not really clear what position he's playing in terms 176 00:08:55,600 --> 00:08:57,559 Speaker 1: of getting to it. So you know, we'll see. But 177 00:08:57,679 --> 00:09:01,000 Speaker 1: right now it's McConnell Pelosi a little bit minution, and 178 00:09:01,040 --> 00:09:03,079 Speaker 1: we still don't really know whether that by part of 179 00:09:03,240 --> 00:09:05,920 Speaker 1: enterpresentators can help sort of plugging in the gaps a 180 00:09:06,000 --> 00:09:10,000 Speaker 1: little bit and get something. I think that, Yeah, I 181 00:09:10,040 --> 00:09:11,959 Speaker 1: think it's there's a lot of unknowns right now. And 182 00:09:12,000 --> 00:09:13,800 Speaker 1: again we're gonna try to check him with one of 183 00:09:13,840 --> 00:09:16,320 Speaker 1: the lawmakers who's at that press conference coming up in 184 00:09:16,360 --> 00:09:18,880 Speaker 1: the next hour, Congressman Tom Reid, if we can get 185 00:09:18,920 --> 00:09:21,640 Speaker 1: him to the to the phone from them from the 186 00:09:21,679 --> 00:09:24,080 Speaker 1: podium to the phone. Um my, thanks to Josh wing Grove, 187 00:09:24,200 --> 00:09:28,440 Speaker 1: he of course is the Bloomberg White House reporter. And again, folks, 188 00:09:28,440 --> 00:09:30,520 Speaker 1: I mean you know, coming up, I'm going to play 189 00:09:30,520 --> 00:09:34,480 Speaker 1: for you my interview with David Rubinstein, co founder and 190 00:09:34,520 --> 00:09:37,360 Speaker 1: co chairman of the Carlisle Group. UH. And he's got 191 00:09:37,400 --> 00:09:40,800 Speaker 1: some fascinating insights into the world of Dr Fauci on 192 00:09:40,840 --> 00:09:44,040 Speaker 1: such an historic day in which these vaccines are now 193 00:09:44,080 --> 00:09:48,160 Speaker 1: finally being administered to Americans here in the United States, 194 00:09:48,200 --> 00:09:50,080 Speaker 1: and he really goes into sort of the behind the 195 00:09:50,120 --> 00:09:53,080 Speaker 1: scenes of of crisis management for someone like a Dr 196 00:09:53,160 --> 00:09:56,880 Speaker 1: Anthony Faucci, who was, without question, uh going to be 197 00:09:56,960 --> 00:10:01,200 Speaker 1: such an illustration of this era, uh and this year 198 00:10:01,360 --> 00:10:04,080 Speaker 1: of much more. Coming up next, we check in with 199 00:10:04,080 --> 00:10:06,560 Speaker 1: Sarah pon check. I'm Kevin Cirelli. You're listening to Bloomberg 200 00:10:06,600 --> 00:10:29,679 Speaker 1: nine one. You're listening to Bloomberg Sound On with Kevin 201 00:10:29,679 --> 00:10:33,559 Speaker 1: Currel on Bloomberg and one oh five point seven F 202 00:10:33,760 --> 00:10:37,640 Speaker 1: M h D two. I'm Kevin Cirelli, Chief Washington correspondent 203 00:10:37,720 --> 00:10:40,599 Speaker 1: for Bloomberg Television and for Bloomberg Radio. Coming up, we 204 00:10:40,760 --> 00:10:43,720 Speaker 1: check in with David Rubinstein, who is the co chairman 205 00:10:43,760 --> 00:10:46,199 Speaker 1: and co founder of the Carlisle Group. He's the author 206 00:10:46,240 --> 00:10:48,040 Speaker 1: of one of my favorite new books of the year 207 00:10:48,480 --> 00:10:52,760 Speaker 1: called How to Lead. Lessons in Leadership from Oprah Winfrey 208 00:10:52,880 --> 00:10:58,120 Speaker 1: to Coach k Uh and Anthony Fauci, Dr Fauci. So 209 00:10:58,160 --> 00:11:01,600 Speaker 1: we'll talk about the historic day that was today with 210 00:11:01,640 --> 00:11:07,480 Speaker 1: the vaccine finally finally being administered to Americans beginning today 211 00:11:07,520 --> 00:11:09,920 Speaker 1: and millions hopefully by the end of the month. So 212 00:11:09,960 --> 00:11:13,200 Speaker 1: a lot of optimism, uh, in terms of we've turned 213 00:11:13,200 --> 00:11:16,080 Speaker 1: a corner. I mean, regardless of your politics, today is 214 00:11:16,160 --> 00:11:19,760 Speaker 1: without question the images of seeing people get the vaccine 215 00:11:19,800 --> 00:11:23,800 Speaker 1: in our country. That should make everyone, everyone feel just 216 00:11:23,840 --> 00:11:26,880 Speaker 1: a little better on what's an otherwise dreary day in 217 00:11:26,920 --> 00:11:30,160 Speaker 1: the nation's capital. Not to mention, not to mention I 218 00:11:30,160 --> 00:11:33,440 Speaker 1: think there's snow coming this week. Are you ready for 219 00:11:33,440 --> 00:11:36,560 Speaker 1: the snowfall? Uh? So, some optimism. Let's see if the 220 00:11:36,640 --> 00:11:39,280 Speaker 1: if the markets were optimistic. Today U S stocks fell 221 00:11:40,000 --> 00:11:43,280 Speaker 1: for a fourth day as investors assessed the prospects for 222 00:11:43,360 --> 00:11:46,559 Speaker 1: a federal spending package and the likelihood for further virus 223 00:11:46,600 --> 00:11:51,120 Speaker 1: related economic restrictions. The SMP five hundred index captive's longest 224 00:11:51,160 --> 00:11:55,040 Speaker 1: slide since September and as one point five percent below 225 00:11:55,120 --> 00:11:58,880 Speaker 1: it's December eight record. Drug makers lad the NASDAC one 226 00:11:58,960 --> 00:12:04,080 Speaker 1: hundred index high after Alexion Pharmaceuticals agreed to be bought 227 00:12:04,160 --> 00:12:09,240 Speaker 1: by Astra Zeneca, and energy producers tumbled after OPEC cut 228 00:12:09,280 --> 00:12:12,520 Speaker 1: its demand forecast. Joining us on the line, Sara pon check. 229 00:12:12,840 --> 00:12:16,120 Speaker 1: She is Bloomberg Markets reporters. Sarah, you know, I thought 230 00:12:16,160 --> 00:12:18,640 Speaker 1: the optimism from the vaccines would would give a boost 231 00:12:18,679 --> 00:12:22,760 Speaker 1: of the markets. What happened, right, So you're absolutely right. 232 00:12:22,840 --> 00:12:26,439 Speaker 1: The images of the vaccine finally being administered in the 233 00:12:26,520 --> 00:12:30,240 Speaker 1: United States. It gives everyone hope. However, when you think 234 00:12:30,240 --> 00:12:32,800 Speaker 1: about the stock market and financial markets as a whole, 235 00:12:32,880 --> 00:12:35,880 Speaker 1: you have to remember that they're forward looking, and the 236 00:12:35,960 --> 00:12:40,200 Speaker 1: reality is that it's possible that the vaccines has already 237 00:12:40,240 --> 00:12:42,480 Speaker 1: been priced into the stock market, and you really have 238 00:12:42,559 --> 00:12:46,040 Speaker 1: to put it into prospective. Just consider the quarter that 239 00:12:46,120 --> 00:12:48,720 Speaker 1: we have already seen in the stock market. The s 240 00:12:48,760 --> 00:12:51,959 Speaker 1: and P five hundred, for example, this quarter is up 241 00:12:51,960 --> 00:12:56,040 Speaker 1: close to nine. There are also eleven sectors that make 242 00:12:56,120 --> 00:12:59,040 Speaker 1: up the S and P five hundred, every single one 243 00:12:59,040 --> 00:13:02,160 Speaker 1: of them is higher. And when you talk about the 244 00:13:02,280 --> 00:13:05,200 Speaker 1: areas of the economy that are most likely to get 245 00:13:05,200 --> 00:13:08,600 Speaker 1: a boost or benefit really from the normalization of the 246 00:13:08,640 --> 00:13:12,199 Speaker 1: economy that being brought about from a vaccine, we're talking 247 00:13:12,240 --> 00:13:16,400 Speaker 1: the likes of energy, financials, industrial companies, energy shares a 248 00:13:16,520 --> 00:13:19,800 Speaker 1: thirty percentive quarter, of financials of more than sixteen percent, 249 00:13:19,880 --> 00:13:23,360 Speaker 1: industrials of fourteen percent. I mean, these are numbers that 250 00:13:23,480 --> 00:13:26,000 Speaker 1: you see in full years, numbers that you might see 251 00:13:26,000 --> 00:13:29,600 Speaker 1: in multiple years. So why you didn't we possibly see 252 00:13:29,640 --> 00:13:33,400 Speaker 1: boosts to the SMP five hundred today, Probably because much 253 00:13:33,440 --> 00:13:36,800 Speaker 1: of this positivity is optimism is really already priced into markets. 254 00:13:37,000 --> 00:13:39,080 Speaker 1: And also you have stickn to account to that. Yes, 255 00:13:39,160 --> 00:13:41,319 Speaker 1: we did the s CV SMP five hundred fall for 256 00:13:41,400 --> 00:13:44,600 Speaker 1: a fourth straight day, that is the longest streaks in September. However, 257 00:13:44,640 --> 00:13:47,800 Speaker 1: we've seen modest the clients today, the SMP down not 258 00:13:47,920 --> 00:13:51,400 Speaker 1: even half a percentage point, So these aren't massive moves 259 00:13:51,400 --> 00:13:54,360 Speaker 1: by any means. Well, I mean, and even so, I 260 00:13:54,400 --> 00:13:57,720 Speaker 1: mean so much uncertainty surrounding the issue of fiscal stimulus, 261 00:13:57,760 --> 00:13:59,040 Speaker 1: which I want to get to in a second, but 262 00:13:59,160 --> 00:14:01,600 Speaker 1: just bear with me in terms of the vaccine, because 263 00:14:01,880 --> 00:14:04,480 Speaker 1: that's so much driving the coverage here out of Washington, 264 00:14:04,559 --> 00:14:07,840 Speaker 1: d C. Today. Uh, even more so, dare I say 265 00:14:07,840 --> 00:14:10,240 Speaker 1: than the fiscal stimulus front, what are some of the 266 00:14:10,320 --> 00:14:14,040 Speaker 1: other signals or some of the other points data points 267 00:14:14,040 --> 00:14:15,880 Speaker 1: that are going to be coming up with administering the 268 00:14:15,960 --> 00:14:17,880 Speaker 1: vaccine that the markets are going to be paying careful 269 00:14:17,920 --> 00:14:20,920 Speaker 1: attention to. Well, right now, when we think about what 270 00:14:20,960 --> 00:14:23,200 Speaker 1: the market has really priced in, the market has priced 271 00:14:23,200 --> 00:14:28,640 Speaker 1: in the vaccine being administered relatively quickly and working, and 272 00:14:28,680 --> 00:14:32,320 Speaker 1: they're not being really many bumps in the road. So 273 00:14:32,720 --> 00:14:35,840 Speaker 1: certainly when we think about one, I mean, the vaccine 274 00:14:36,320 --> 00:14:39,720 Speaker 1: is going to be the story of next year. Can 275 00:14:39,960 --> 00:14:45,360 Speaker 1: be administered and rolled out quickly and smoothly, possibly by summer, 276 00:14:45,480 --> 00:14:47,840 Speaker 1: to the point where you are going to see an 277 00:14:47,840 --> 00:14:52,120 Speaker 1: economy that goes back to normal. And yes, we would 278 00:14:52,160 --> 00:14:54,000 Speaker 1: all like to think that this is going to be 279 00:14:54,040 --> 00:14:58,000 Speaker 1: the case. However, certainly, when you look at markets, many 280 00:14:58,040 --> 00:15:01,560 Speaker 1: investors right now are optimistic, maybe a bit too optimistic. 281 00:15:01,640 --> 00:15:03,680 Speaker 1: Everyone seems to be on the same side as the 282 00:15:03,760 --> 00:15:06,440 Speaker 1: coin right now, and you have to wonder about the 283 00:15:06,520 --> 00:15:10,160 Speaker 1: risks that really could come out as we do start 284 00:15:10,240 --> 00:15:12,280 Speaker 1: to see the rollout of this vaccine. Is it's going 285 00:15:12,360 --> 00:15:15,560 Speaker 1: to take longer than expected. Are people not going to 286 00:15:15,680 --> 00:15:17,680 Speaker 1: want to get the vaccine at a higher rate than 287 00:15:17,720 --> 00:15:20,280 Speaker 1: possibly expected, or as some of the worst surveys do 288 00:15:20,360 --> 00:15:22,400 Speaker 1: show that some people don't want to get the vaccine 289 00:15:22,480 --> 00:15:25,240 Speaker 1: right now? What does that mean for an economy and 290 00:15:25,280 --> 00:15:27,880 Speaker 1: businesses going back to normal? Does that mean that people 291 00:15:27,920 --> 00:15:31,120 Speaker 1: still aren't going to want to go on plane along cruses, 292 00:15:31,160 --> 00:15:32,960 Speaker 1: go up and go to the movies, go to a concert, 293 00:15:33,040 --> 00:15:35,960 Speaker 1: for example. There are still a lot of questions out 294 00:15:36,040 --> 00:15:39,280 Speaker 1: and about, and especially considering that these are the companies 295 00:15:39,320 --> 00:15:41,280 Speaker 1: that have really excelled in the stock market support, or 296 00:15:41,320 --> 00:15:44,280 Speaker 1: the cruise lines, the airlines Live Nation for example, putting 297 00:15:44,320 --> 00:15:47,720 Speaker 1: on live events, that if there are some bumps in 298 00:15:47,800 --> 00:15:51,560 Speaker 1: the road, then that could certainly be an issue. Meanwhile, 299 00:15:51,680 --> 00:15:54,640 Speaker 1: physical stimulus talks just getting the attention of so many 300 00:15:54,720 --> 00:15:56,840 Speaker 1: different people here in Washington, d C. Let's take a 301 00:15:56,880 --> 00:15:59,320 Speaker 1: listen to sentiment Arty Leader Chuck Humor maroufal on the 302 00:15:59,360 --> 00:16:01,720 Speaker 1: boards doing just such a great job for us, Murphall 303 00:16:01,760 --> 00:16:04,680 Speaker 1: on the boards. We've got Senate Minority Leader Chuck Schumer 304 00:16:05,000 --> 00:16:08,080 Speaker 1: speaking earlier today about the need for fiscal stimulus and 305 00:16:08,080 --> 00:16:12,760 Speaker 1: whether or not lawmakers should stay UH throughout the holiday recess. 306 00:16:12,880 --> 00:16:15,760 Speaker 1: Here's the sound on that if we don't come to agreement, 307 00:16:15,800 --> 00:16:18,400 Speaker 1: we should stay in the capital through Christmas and New 308 00:16:18,520 --> 00:16:21,520 Speaker 1: Year's because people are suffering. Congress should not go home 309 00:16:21,600 --> 00:16:24,400 Speaker 1: until we have an agreement. We hear this all the time. 310 00:16:24,480 --> 00:16:26,760 Speaker 1: Right earlier we heard from Leader McConnell. But the but 311 00:16:26,880 --> 00:16:31,840 Speaker 1: the general notion is is really UH continuing to intensify. 312 00:16:32,000 --> 00:16:33,880 Speaker 1: And just within the last half hour we've got the 313 00:16:33,920 --> 00:16:37,280 Speaker 1: problem Solvers Caucus and a gang of a handful of 314 00:16:37,400 --> 00:16:40,200 Speaker 1: senators both sides of the aisle, calling for there to 315 00:16:40,240 --> 00:16:43,200 Speaker 1: be some type of a fiscal stimulus agreement, the centrist 316 00:16:43,280 --> 00:16:45,840 Speaker 1: really uniting. What is what are the markets looking at 317 00:16:46,640 --> 00:16:50,840 Speaker 1: right that we have faced Kevin on the fiscal stimulus front, 318 00:16:50,880 --> 00:16:53,120 Speaker 1: and not just for days, not just for weeks, but 319 00:16:53,240 --> 00:17:00,720 Speaker 1: were months monthslievable with you listen to Philadelphia Eagles have 320 00:17:00,880 --> 00:17:03,120 Speaker 1: found a new quarterback in the time that it's taken 321 00:17:03,200 --> 00:17:05,680 Speaker 1: for these people to get a deal go ahead, Can 322 00:17:05,800 --> 00:17:09,040 Speaker 1: you believe it? But when it comes to market, it's 323 00:17:09,040 --> 00:17:12,879 Speaker 1: almost as if every day you can almost shut you 324 00:17:12,960 --> 00:17:14,520 Speaker 1: can draw that, you can draw the line, you can 325 00:17:14,600 --> 00:17:16,800 Speaker 1: draw the narrative. You can say that, sir, fiscal simulus 326 00:17:16,840 --> 00:17:18,960 Speaker 1: talks are going well, markets are up. Fiscal stimulus talks 327 00:17:19,000 --> 00:17:20,840 Speaker 1: aren't going well, markets are down. But the end all, 328 00:17:20,920 --> 00:17:23,840 Speaker 1: the all is that investors still seem optimistic at some 329 00:17:24,119 --> 00:17:27,320 Speaker 1: point that we will get a fiscal stimulus bill. That 330 00:17:27,440 --> 00:17:30,159 Speaker 1: doesn't mean that it has to be this year, but 331 00:17:30,359 --> 00:17:33,159 Speaker 1: the way that they are thinking in some portfolio managers 332 00:17:33,160 --> 00:17:36,840 Speaker 1: that I've spoken to as that comes once you get 333 00:17:36,880 --> 00:17:39,920 Speaker 1: a Biden presidency, once you get Janet Yellen as well 334 00:17:40,520 --> 00:17:44,320 Speaker 1: um in the Treasury, then you're going to have this 335 00:17:44,440 --> 00:17:48,359 Speaker 1: aligned effort in which you are likely going to see stimulus, 336 00:17:48,400 --> 00:17:52,120 Speaker 1: possibly by the trillions again. So again, markets are forward looking. 337 00:17:52,520 --> 00:17:55,360 Speaker 1: But I don't see how they do that, Sarah Coon 338 00:17:55,440 --> 00:17:57,040 Speaker 1: check But I mean, I don't see how they do. 339 00:17:57,200 --> 00:18:00,920 Speaker 1: I don't know how republic kids who are on the 340 00:18:01,040 --> 00:18:03,480 Speaker 1: cusp of I mean, here's and here's where I think 341 00:18:03,520 --> 00:18:05,840 Speaker 1: the markets are well. I don't know, I'm the but 342 00:18:06,640 --> 00:18:09,160 Speaker 1: Republicans right now are having in behind the scenes debate 343 00:18:09,200 --> 00:18:11,480 Speaker 1: about whether or not there's been too much government funding. 344 00:18:11,840 --> 00:18:14,520 Speaker 1: And it's why Leader McConnell has been unable to to 345 00:18:14,880 --> 00:18:19,000 Speaker 1: to allocate additional funds for for the state and local aid, 346 00:18:19,560 --> 00:18:22,080 Speaker 1: and and so the notion that all of a sudden 347 00:18:22,520 --> 00:18:25,440 Speaker 1: President electro Biden will take office and that Republicans will 348 00:18:25,480 --> 00:18:29,280 Speaker 1: abandon their their constituents and their argument in terms of 349 00:18:29,359 --> 00:18:32,600 Speaker 1: fiscal restraint, I just don't see it's there. I really, 350 00:18:32,680 --> 00:18:35,119 Speaker 1: I truly don't. We got a minute left. I'll keep 351 00:18:35,160 --> 00:18:36,920 Speaker 1: the quick. It's a it's a really great point, Kevin. 352 00:18:37,000 --> 00:18:38,639 Speaker 1: What you have on your side also is that I 353 00:18:38,720 --> 00:18:42,280 Speaker 1: have been hearing from investors all year long. I'm talking 354 00:18:42,359 --> 00:18:44,720 Speaker 1: now for months that we were going to get a 355 00:18:44,720 --> 00:18:47,200 Speaker 1: fiscal spinulius package. And it's months later and we still 356 00:18:47,240 --> 00:18:49,679 Speaker 1: have not got it, and yet markets still remain optimistic. 357 00:18:49,880 --> 00:18:53,240 Speaker 1: So you're absolutely right, thanks could fall apart. Investors have 358 00:18:53,280 --> 00:18:55,320 Speaker 1: an optimistic and had a fistical package for months now, 359 00:18:55,400 --> 00:18:57,440 Speaker 1: we still don't have one, and yet they still seem 360 00:18:57,480 --> 00:19:00,160 Speaker 1: to be optimistic that it will come one day. What's 361 00:19:00,200 --> 00:19:02,879 Speaker 1: that poem when things fall apart? The center holds, who 362 00:19:02,960 --> 00:19:05,120 Speaker 1: wrote that? I should know this? I'm trying to read 363 00:19:05,200 --> 00:19:07,600 Speaker 1: more things fall apart? The center holds. I'll tell you 364 00:19:07,680 --> 00:19:10,840 Speaker 1: after the jump. Sarah Pon checked Bloomberg Markets Reporter, thank 365 00:19:10,880 --> 00:19:13,640 Speaker 1: you so much for breaking all of that down. Download 366 00:19:13,680 --> 00:19:18,439 Speaker 1: the Bloomberg sound On podcast on Apple iTunes, at by 367 00:19:18,480 --> 00:19:22,280 Speaker 1: downloading the Bloomberg Business app, or on radio dot com. 368 00:19:22,640 --> 00:19:25,640 Speaker 1: Uh and uh, We've got a lot more coming up next. 369 00:19:25,680 --> 00:19:28,560 Speaker 1: I'm Kevin's really Chief Washington correspondent fro Blomberg TV and Radio. 370 00:19:28,840 --> 00:19:58,840 Speaker 1: You're listening to Bloomberg. I'll talk here in Washington. D 371 00:19:58,920 --> 00:20:02,879 Speaker 1: C turns to President Intellect Joe Biden's administration, Historically speaking, 372 00:20:02,920 --> 00:20:05,320 Speaker 1: the markets that performed better when there is divided government. 373 00:20:05,480 --> 00:20:09,240 Speaker 1: The biggest pressure for physical stimulus is an off taking cases. 374 00:20:09,320 --> 00:20:14,359 Speaker 1: Bloomberg sound On the insiders, the influencers, the inside siding 375 00:20:14,440 --> 00:20:17,800 Speaker 1: has promised again and again the will unite the country's 376 00:20:17,880 --> 00:20:20,960 Speaker 1: state government's control elections US in the constitution. I think 377 00:20:21,040 --> 00:20:25,040 Speaker 1: that we can expect a smooth, thoughtful, methodical transition. This 378 00:20:25,560 --> 00:20:30,720 Speaker 1: is Bloomberg Sound On with Kevin Shirley on Bloomberg Woman 379 00:20:30,800 --> 00:20:33,720 Speaker 1: and one oh five point seven f MHD two. The 380 00:20:33,840 --> 00:20:39,040 Speaker 1: vaccines are now in the US public a full report 381 00:20:39,119 --> 00:20:42,600 Speaker 1: on the vaccination front, plus fiscal simulus talks continuing, a 382 00:20:42,640 --> 00:20:45,879 Speaker 1: bipartisan group of lawmakers just nailing a new proposed We 383 00:20:46,000 --> 00:20:49,640 Speaker 1: begin tonight with the big story, and that is vaccinations. 384 00:20:49,800 --> 00:20:53,080 Speaker 1: We should note that in New York, North Carolina, North Dakota, 385 00:20:53,480 --> 00:20:56,600 Speaker 1: and across the United States, the first COVID nineteen shots 386 00:20:56,920 --> 00:21:00,600 Speaker 1: were administered by hospitals all throughout the day, the initial 387 00:21:00,680 --> 00:21:04,720 Speaker 1: step and an historic drive to vaccinate millions of people. 388 00:21:05,320 --> 00:21:10,480 Speaker 1: This week in Queen's individuals were vaccinated. In Charlotte, North Carolina, 389 00:21:10,880 --> 00:21:17,360 Speaker 1: americans vaccinated, and in Fargo, North Dakota, others vaccinated as well. 390 00:21:17,720 --> 00:21:20,879 Speaker 1: So they're here, folks. After months of waiting, the arrival 391 00:21:20,920 --> 00:21:24,159 Speaker 1: of the Fiser and BioNTech vaccine offers a glimmer of 392 00:21:24,280 --> 00:21:27,960 Speaker 1: hope amid a pandemic that has already seen three hundred 393 00:21:28,040 --> 00:21:32,480 Speaker 1: thousand Americans die. According to Johns Hopkins University data, about 394 00:21:32,560 --> 00:21:35,560 Speaker 1: two hundred thousand people are testing positive for the virus 395 00:21:35,920 --> 00:21:40,280 Speaker 1: every single day, in the nations nation's worst surge to date. 396 00:21:40,359 --> 00:21:43,080 Speaker 1: The government plans to distribute at least two point nine 397 00:21:43,640 --> 00:21:48,560 Speaker 1: million doses to US states during the week ahead. UH. 398 00:21:49,000 --> 00:21:53,120 Speaker 1: We begin also with sounds on the fiscal negotiations, as 399 00:21:53,240 --> 00:21:57,359 Speaker 1: the intensifying effort on Capitol Hill to get to some type, 400 00:21:57,960 --> 00:22:03,120 Speaker 1: some type of deal on the fiscal stimulus front still 401 00:22:03,280 --> 00:22:06,639 Speaker 1: continues to elude lawmakers. Take a listen to send a 402 00:22:06,680 --> 00:22:11,600 Speaker 1: Majority Leader Mitch McConnell earlier today, it's upt off. We 403 00:22:11,760 --> 00:22:15,879 Speaker 1: decide this is entirely within our control. I can speak 404 00:22:15,920 --> 00:22:18,120 Speaker 1: for the Republican side. We want to make a law 405 00:22:18,880 --> 00:22:22,879 Speaker 1: degree where we can and help people who need it. 406 00:22:23,200 --> 00:22:25,560 Speaker 1: I hope and believe that my Democratic colleagues will feel 407 00:22:25,600 --> 00:22:28,200 Speaker 1: the same way. It's about time to get this done. 408 00:22:29,400 --> 00:22:33,359 Speaker 1: Senate Minority Leader Chuck Schumer says that Democrats and Republicans 409 00:22:33,359 --> 00:22:36,040 Speaker 1: should stay through the holiday recess if they can't get 410 00:22:36,080 --> 00:22:38,879 Speaker 1: a deal. If we don't come to agreement, we should 411 00:22:38,920 --> 00:22:41,760 Speaker 1: stay in the capital through Christmas in New Year's because 412 00:22:41,760 --> 00:22:44,720 Speaker 1: people are suffering. Congress should not go home until we 413 00:22:44,840 --> 00:22:47,760 Speaker 1: have an agreement. Patrick Murphy is with us. He is 414 00:22:47,760 --> 00:22:52,240 Speaker 1: a former congressman, Democratic Congressman from Florida. UH, and so 415 00:22:52,640 --> 00:22:57,640 Speaker 1: is Lester Munson. Lester is principle of government relations firm 416 00:22:58,000 --> 00:23:01,800 Speaker 1: b GR Group, and he also has previously served Senator 417 00:23:01,880 --> 00:23:04,479 Speaker 1: Bob Corker. Thank you both for being with me. Patrick, 418 00:23:04,520 --> 00:23:07,000 Speaker 1: I'll start with you. I mean, I thought it was 419 00:23:07,040 --> 00:23:09,080 Speaker 1: a pretty good day to have the vaccine in the 420 00:23:09,520 --> 00:23:11,800 Speaker 1: in the in the US front. But it looks like 421 00:23:12,200 --> 00:23:15,120 Speaker 1: that getting a fiscal stimulus deal is still very much 422 00:23:15,160 --> 00:23:21,040 Speaker 1: eluding Republicans and Democrats. Yeah, hey, Kevin, how you doing? Um? 423 00:23:21,600 --> 00:23:24,639 Speaker 1: It does this has been a tougher deal than I 424 00:23:24,680 --> 00:23:27,920 Speaker 1: would have imagined a couple of months ago. Um And 425 00:23:28,440 --> 00:23:30,560 Speaker 1: you know what we're seeing now with the sort of 426 00:23:30,640 --> 00:23:33,760 Speaker 1: game of six gang of eight more of moderate senators 427 00:23:33,800 --> 00:23:36,720 Speaker 1: getting together, might be a little glimpse of the future, 428 00:23:37,800 --> 00:23:40,080 Speaker 1: but I'm not overly optimistic it's actually gonna get over 429 00:23:40,119 --> 00:23:43,600 Speaker 1: the finish line based on the personalities there, you know, Lester, 430 00:23:43,840 --> 00:23:46,800 Speaker 1: It's it's remarkable just within the last half hour, the 431 00:23:46,880 --> 00:23:51,320 Speaker 1: Problem Solvers Caucus, a bipartisan group of Republicans and Democrats. 432 00:23:51,400 --> 00:23:54,360 Speaker 1: They went inside of the Capitol, they gave a press conference, 433 00:23:54,440 --> 00:23:57,040 Speaker 1: no new details around the nine hundred and eight billion 434 00:23:57,119 --> 00:23:59,960 Speaker 1: dollars plan. And and now we've got this emerging threat 435 00:24:00,000 --> 00:24:03,080 Speaker 1: and of whether or not Centrists will get behind a 436 00:24:03,160 --> 00:24:06,800 Speaker 1: seven hundred and fifty billion dollar proposal versus a hundred 437 00:24:06,800 --> 00:24:09,800 Speaker 1: and sixty billion dollars for state need So they would 438 00:24:09,800 --> 00:24:12,760 Speaker 1: try to do a two tier approach here. But it 439 00:24:12,880 --> 00:24:15,719 Speaker 1: just seems like they're throwing throwing anything they can up 440 00:24:15,720 --> 00:24:19,680 Speaker 1: against the wall and seeing if it'll stick. Yeah, there's 441 00:24:19,880 --> 00:24:23,320 Speaker 1: there's there's too many. I think the structural issue that 442 00:24:23,520 --> 00:24:26,480 Speaker 1: the Hill is facing right now is they don't know 443 00:24:26,520 --> 00:24:28,520 Speaker 1: who's going to be in charge of the Senate next year, 444 00:24:28,720 --> 00:24:31,840 Speaker 1: right until January five, presumably, when we have the results 445 00:24:31,880 --> 00:24:36,000 Speaker 1: from the two races in Georgia. It's it's this huge 446 00:24:36,160 --> 00:24:39,720 Speaker 1: variable that's out there, and and neither Republicans nor Democrats 447 00:24:39,800 --> 00:24:42,120 Speaker 1: know how to position themselves until they have a sense 448 00:24:42,240 --> 00:24:44,600 Speaker 1: of who's going to be running the Senate next year. 449 00:24:44,640 --> 00:24:48,119 Speaker 1: And the other thing, frankly, is that the in my opinion, 450 00:24:48,280 --> 00:24:50,760 Speaker 1: at least, President Trump and his White House have not 451 00:24:50,880 --> 00:24:54,119 Speaker 1: done a good job of coordinating with Hill Republicans on 452 00:24:54,160 --> 00:24:57,879 Speaker 1: their negotiating strategy. The President has been erratic, he's been 453 00:24:57,880 --> 00:24:59,919 Speaker 1: overly focused on n d A a where he's mad 454 00:25:00,000 --> 00:25:03,200 Speaker 1: in some statements frankly that no one really understands and 455 00:25:03,359 --> 00:25:07,119 Speaker 1: so it makes it very difficult for his negotiators to 456 00:25:07,520 --> 00:25:11,520 Speaker 1: reach some sort of compromise with UH. With politicians on 457 00:25:11,560 --> 00:25:16,600 Speaker 1: the hill. You know, Patrick, I don't understand how a 458 00:25:16,720 --> 00:25:20,879 Speaker 1: Speaker Pelosi, or Leader McConnell, or any even of the 459 00:25:21,000 --> 00:25:24,920 Speaker 1: centrist I don't understand how they can wait for Georgia, 460 00:25:25,400 --> 00:25:28,080 Speaker 1: which which based upon all the conversations that that you 461 00:25:28,200 --> 00:25:31,040 Speaker 1: guys are having, that I'm having, that our colleagues are having, 462 00:25:32,359 --> 00:25:35,480 Speaker 1: that George is going to inform whether or not people 463 00:25:35,560 --> 00:25:39,240 Speaker 1: get economic relief right now. I think that's a foreign 464 00:25:39,440 --> 00:25:42,760 Speaker 1: concept to anyone outside of Washington, d C. And And 465 00:25:42,880 --> 00:25:45,520 Speaker 1: it doesn't it's it's a it's a circle that I 466 00:25:45,640 --> 00:25:50,840 Speaker 1: cannot square. Yeah, and you're right, people should be disgusted 467 00:25:51,040 --> 00:25:54,119 Speaker 1: by the premise of that, But I don't disagree that 468 00:25:54,240 --> 00:25:58,280 Speaker 1: that is playing in to the decision making process of leadership. 469 00:25:59,240 --> 00:26:02,560 Speaker 1: Far too many people in DC are continuing to put 470 00:26:02,680 --> 00:26:05,400 Speaker 1: their party and their party's power in front of what's 471 00:26:05,440 --> 00:26:08,479 Speaker 1: best for the American people and so many that are struggling. UH. 472 00:26:08,560 --> 00:26:10,240 Speaker 1: And And you know, I think you see that in 473 00:26:10,280 --> 00:26:14,560 Speaker 1: the approval ratings of Congress UH and political leaders at large, 474 00:26:14,680 --> 00:26:18,560 Speaker 1: because whether they know the invent outs of what's happening. 475 00:26:18,600 --> 00:26:20,760 Speaker 1: They know it's not working and Comminston's things are not 476 00:26:20,840 --> 00:26:23,600 Speaker 1: getting past, and it just speaks, you know, really more 477 00:26:23,680 --> 00:26:28,080 Speaker 1: to the bigger it's a problem of the incentives and 478 00:26:28,160 --> 00:26:31,960 Speaker 1: the structural problems that have forced really both parties to 479 00:26:32,040 --> 00:26:35,520 Speaker 1: be more incentivized to go to their extreme political base, 480 00:26:36,160 --> 00:26:40,199 Speaker 1: right because of the money, because of the jerrymandering, because 481 00:26:40,720 --> 00:26:43,720 Speaker 1: of the media, you know, getting more and more attention 482 00:26:44,119 --> 00:26:47,080 Speaker 1: on more extreme channels. And I don't mean you, Kevin, 483 00:26:47,119 --> 00:26:50,520 Speaker 1: and this of course in Bloomberg, but appreciate it. Appreciated. 484 00:26:51,480 --> 00:26:53,440 Speaker 1: When I talk about the Eagles, I get a little 485 00:26:53,520 --> 00:26:57,400 Speaker 1: extreme executive, got a rain of town. But I will 486 00:26:57,480 --> 00:27:00,480 Speaker 1: say we beat the Saints. Go ahead. Uh, I was 487 00:27:01,160 --> 00:27:03,720 Speaker 1: glad that held on there, but held on it was 488 00:27:03,800 --> 00:27:06,600 Speaker 1: the biggest upset of the season with a backup quarterback. Okay, 489 00:27:06,760 --> 00:27:18,199 Speaker 1: see what's happening already rails of leadership here, and they 490 00:27:18,240 --> 00:27:20,040 Speaker 1: don't want to necessarily make a deal. They want to 491 00:27:20,080 --> 00:27:23,399 Speaker 1: appeal to their political peach And you know, Republicans, they 492 00:27:23,440 --> 00:27:25,520 Speaker 1: are still stuck in a bit of a quandary with 493 00:27:25,640 --> 00:27:28,920 Speaker 1: trump Stone leadership, wondering what he's gonna do match and 494 00:27:29,040 --> 00:27:30,760 Speaker 1: is he going to be running for president and you 495 00:27:30,840 --> 00:27:33,840 Speaker 1: know a couple of months already, uh and hurting them 496 00:27:33,880 --> 00:27:36,639 Speaker 1: in their own primaries. Uh So there's just a lot 497 00:27:36,720 --> 00:27:39,160 Speaker 1: of uncertainty, and it all comes down to the mala 498 00:27:39,240 --> 00:27:41,719 Speaker 1: line in centence where people putting them their own political 499 00:27:41,840 --> 00:27:44,240 Speaker 1: career or party in front of the best for the country. 500 00:27:46,040 --> 00:27:48,960 Speaker 1: I mean, it's it's really really remarkable. I mean, and 501 00:27:49,080 --> 00:27:52,320 Speaker 1: even it's on a day like today in which the 502 00:27:52,480 --> 00:27:56,520 Speaker 1: science community comes out with a vaccine, people are getting 503 00:27:56,560 --> 00:27:59,040 Speaker 1: the vaccine. I mean, you would think and I don't know, 504 00:27:59,400 --> 00:28:02,440 Speaker 1: Patrick been in office, Lester, You've worked with you know, 505 00:28:02,680 --> 00:28:06,240 Speaker 1: the senators and elected officials. But I don't know. I 506 00:28:06,280 --> 00:28:08,560 Speaker 1: don't think you have to be a political rocket scientist 507 00:28:09,040 --> 00:28:12,040 Speaker 1: to think that maybe it would be a good idea 508 00:28:12,240 --> 00:28:15,280 Speaker 1: to get to a deal on the day the vaccine 509 00:28:15,880 --> 00:28:20,080 Speaker 1: goes into effects. I don't know, Lester, I mean, am 510 00:28:20,119 --> 00:28:23,320 Speaker 1: I missing something? It's like they both sides here, it's 511 00:28:23,400 --> 00:28:25,560 Speaker 1: just you know, opinion out of it. But it's just 512 00:28:26,080 --> 00:28:31,040 Speaker 1: this appears to be such a a stepping over themselves 513 00:28:31,240 --> 00:28:36,480 Speaker 1: both parties. I totally think you're correct, Kevin Um and 514 00:28:36,840 --> 00:28:39,320 Speaker 1: I think there's you know, I hesitate to save US 515 00:28:39,320 --> 00:28:41,840 Speaker 1: as a Republican. But I think there's a huge opportunity 516 00:28:42,160 --> 00:28:45,440 Speaker 1: for President elect Biden to show some leadership here. He's 517 00:28:45,480 --> 00:28:48,400 Speaker 1: been But I but I have to interrup. Let me 518 00:28:48,440 --> 00:28:50,040 Speaker 1: press you on this because I have sixty seconds that 519 00:28:50,080 --> 00:28:52,239 Speaker 1: I want to get this in the notion that all 520 00:28:52,280 --> 00:28:55,200 Speaker 1: of a sudden President Elect Biden takes office and then 521 00:28:55,280 --> 00:28:58,160 Speaker 1: Republicans give up their concerns about spending more money, I 522 00:28:58,280 --> 00:29:00,760 Speaker 1: don't see that that doesn't square with my circle either. 523 00:29:00,840 --> 00:29:04,160 Speaker 1: Go ahead, No, I don't think he can influence Republicans, 524 00:29:04,240 --> 00:29:06,120 Speaker 1: but he can push his party to be a little 525 00:29:06,160 --> 00:29:08,880 Speaker 1: more forward leaning and at least being a posture of 526 00:29:09,680 --> 00:29:12,160 Speaker 1: looking like they're conference they were willing to compromise to 527 00:29:12,200 --> 00:29:14,480 Speaker 1: get a deal, and that puts more pressure on Republicans. 528 00:29:14,800 --> 00:29:18,240 Speaker 1: All right, and yeah, and Joe Biden has been, you know, 529 00:29:18,360 --> 00:29:20,440 Speaker 1: kind of playing it low key to his credit and 530 00:29:20,560 --> 00:29:22,600 Speaker 1: that it worked for me won the election that way. 531 00:29:23,240 --> 00:29:24,680 Speaker 1: Maybe not as the time to turn up the gas 532 00:29:24,720 --> 00:29:27,200 Speaker 1: a little bit interesting, Alright, panel stays, I'm Kevin cur 533 00:29:27,200 --> 00:29:50,680 Speaker 1: Really you're listening to Bloomberg nine. You're listening to Bloomberg 534 00:29:50,800 --> 00:29:54,840 Speaker 1: Sound On with Kevin sirelate on Bloomberg and one or 535 00:29:54,960 --> 00:29:58,200 Speaker 1: five point seven f M h D two Kevin Cereli, 536 00:29:58,680 --> 00:30:02,600 Speaker 1: Chief Washington corresponding for Bloomberg Television and from Bloomberg Radio. 537 00:30:02,680 --> 00:30:05,480 Speaker 1: Coming up, we check in with David Rubinstein, co chairman 538 00:30:05,520 --> 00:30:08,200 Speaker 1: and co founder of the Carlisle Group. I asked him 539 00:30:08,240 --> 00:30:10,560 Speaker 1: about his new book. Of course, it's called How to Lead, 540 00:30:11,040 --> 00:30:13,360 Speaker 1: but we do it through the lens of Dr Anthony Fauci, 541 00:30:13,440 --> 00:30:16,680 Speaker 1: who he devotes of one chapter in his book. Four Uh, 542 00:30:16,920 --> 00:30:18,800 Speaker 1: you don't want to miss it. It was a conversation 543 00:30:18,880 --> 00:30:22,280 Speaker 1: I did earlier today, on such an historic day on 544 00:30:22,360 --> 00:30:25,000 Speaker 1: the vaccination front. I say this, Look, I don't care 545 00:30:25,080 --> 00:30:28,600 Speaker 1: what party you're in, I really don't. Everyone should be 546 00:30:28,640 --> 00:30:31,440 Speaker 1: feeling just a little bit of of of lightness, of 547 00:30:31,720 --> 00:30:37,160 Speaker 1: of of gratitude, of optimism. I honestly think hope is 548 00:30:37,200 --> 00:30:39,280 Speaker 1: the best word to describe it. Because here we are 549 00:30:39,840 --> 00:30:42,600 Speaker 1: as we head in to the holiday season. Some of 550 00:30:42,680 --> 00:30:46,840 Speaker 1: us are already celebrating the holiday season, and we have 551 00:30:47,160 --> 00:30:50,240 Speaker 1: a vaccine. If that's not something to be thankful for, 552 00:30:50,360 --> 00:30:52,880 Speaker 1: then I don't know what is. And they're ministering it 553 00:30:53,040 --> 00:30:57,320 Speaker 1: across the country. Um, and we're there. You know, it's 554 00:30:57,360 --> 00:31:00,719 Speaker 1: been a tough year of rough year. But here we are, uh, 555 00:31:00,920 --> 00:31:05,400 Speaker 1: and Republicans and Democrats and the scientific community are all 556 00:31:05,520 --> 00:31:09,040 Speaker 1: saying that this could be behind us by next summer 557 00:31:09,240 --> 00:31:11,520 Speaker 1: or the fall. So keep keep your head down, keep 558 00:31:11,560 --> 00:31:14,320 Speaker 1: grinding it out. As my dad always tells me, keep focus. 559 00:31:14,440 --> 00:31:17,040 Speaker 1: We're gonna get through it. We're gonna get through it. 560 00:31:17,160 --> 00:31:19,000 Speaker 1: And you know what I'm gonna get through this hour? 561 00:31:19,440 --> 00:31:24,440 Speaker 1: I am Christine with um Lester Munson Principle of Government 562 00:31:24,520 --> 00:31:28,840 Speaker 1: Relations from b GR Group and former Florida Congressman Patrick Murphy. 563 00:31:29,120 --> 00:31:35,960 Speaker 1: He represented Florida's eighteenth congressional district from seventeen. He's a Democrat, Uh, Lester. 564 00:31:36,600 --> 00:31:40,240 Speaker 1: You know, the Electoral College members and all six battleground 565 00:31:40,280 --> 00:31:43,960 Speaker 1: states where President Trump most fiercely contested the results cast 566 00:31:44,040 --> 00:31:49,000 Speaker 1: their ballots for Democrat Joe Biden, effectively cutting off the 567 00:31:49,080 --> 00:31:53,440 Speaker 1: president's paths the overturning the election. Meanwhile, just within the 568 00:31:53,560 --> 00:31:57,240 Speaker 1: last ten minutes or so, headline crossing my Bloomberg terminal, 569 00:31:57,280 --> 00:32:02,200 Speaker 1: Senator John Cornyn recognizes Biden as president elect, as Republican 570 00:32:02,320 --> 00:32:07,280 Speaker 1: leaders still remain silent on the Electoral College voting. All right, 571 00:32:07,880 --> 00:32:12,200 Speaker 1: science seal delivered? Is it done? I think it's done. 572 00:32:12,320 --> 00:32:15,600 Speaker 1: That doesn't mean we're not done shouting about it though. Um, 573 00:32:17,520 --> 00:32:21,840 Speaker 1: we're still We've still got what We've got five more 574 00:32:21,880 --> 00:32:25,360 Speaker 1: weeks of programming to sell up for the Trump shows. 575 00:32:26,880 --> 00:32:29,640 Speaker 1: I know, but I but but but from your perspective 576 00:32:29,680 --> 00:32:32,000 Speaker 1: in the conversations that you have with Republicans, I mean, 577 00:32:32,920 --> 00:32:34,720 Speaker 1: is this just is it a little more than that 578 00:32:34,840 --> 00:32:37,160 Speaker 1: a show? I mean, is this just pure politics at 579 00:32:37,200 --> 00:32:39,920 Speaker 1: this point? And and you know we've been reporting on 580 00:32:40,040 --> 00:32:42,479 Speaker 1: that for quite some time, but even on a day 581 00:32:42,560 --> 00:32:47,960 Speaker 1: like today, an electoral college vote, a vaccine administered, still 582 00:32:48,040 --> 00:32:51,000 Speaker 1: no physical stimulus front, but on the electoral college front. 583 00:32:51,360 --> 00:32:53,400 Speaker 1: I was struck by this. You and I had conversations 584 00:32:53,440 --> 00:32:56,840 Speaker 1: about this over the summer, that it would somehow go 585 00:32:57,880 --> 00:33:00,360 Speaker 1: that it would that would that the president's cheeks of 586 00:33:00,400 --> 00:33:03,400 Speaker 1: it would diminish the role of the electoral electoral college. 587 00:33:03,400 --> 00:33:06,920 Speaker 1: And that just didn't happen. No, And I think, you know, 588 00:33:07,040 --> 00:33:09,680 Speaker 1: I think somewhere inside all of us we knew this 589 00:33:09,880 --> 00:33:12,040 Speaker 1: was this was the outcome, you know, with all of 590 00:33:12,120 --> 00:33:16,480 Speaker 1: the shouting since the election from from the president and 591 00:33:16,680 --> 00:33:19,640 Speaker 1: his and his minions, we knew this was going to 592 00:33:19,760 --> 00:33:23,760 Speaker 1: happen the whole time. And uh, because the lawsuits really 593 00:33:23,960 --> 00:33:26,640 Speaker 1: had no merit, they had no facts, they didn't even 594 00:33:26,680 --> 00:33:31,160 Speaker 1: really have coherent theory behind them. And the idea that 595 00:33:31,240 --> 00:33:35,960 Speaker 1: you're going to get electors to change their votes because 596 00:33:36,040 --> 00:33:38,360 Speaker 1: of a bunch of brow beating is bananas, you know, 597 00:33:38,760 --> 00:33:40,880 Speaker 1: in a in a much different way. It happened four 598 00:33:40,960 --> 00:33:45,000 Speaker 1: years ago. Uh, some Democrats were urging electors to vote 599 00:33:45,040 --> 00:33:47,640 Speaker 1: different so that Trump couldn't get an office. That didn't happen. 600 00:33:48,040 --> 00:33:52,840 Speaker 1: This didn't happen. Our democracy is not really under siege. 601 00:33:53,480 --> 00:33:56,680 Speaker 1: Our systems work very well. We should be thankful for them. 602 00:33:56,720 --> 00:33:58,920 Speaker 1: We're blessed to have them. We are the luckiest country 603 00:33:58,960 --> 00:34:01,600 Speaker 1: in the world. And let me get just shows you 604 00:34:01,680 --> 00:34:04,160 Speaker 1: that our system is pretty good. Patrick Murphy, you come 605 00:34:04,200 --> 00:34:10,680 Speaker 1: in here, I would say, our democracy laugh at my 606 00:34:10,800 --> 00:34:12,440 Speaker 1: questions when I asked them. By the way, I know 607 00:34:12,560 --> 00:34:16,040 Speaker 1: Patrick very much, and it's like he's surprised that I 608 00:34:16,120 --> 00:34:23,040 Speaker 1: go ahead, go ahead, fueler. I believe our democracy is 609 00:34:23,040 --> 00:34:25,839 Speaker 1: a bit more fragile than that. Maybe it's because I'm 610 00:34:25,880 --> 00:34:27,840 Speaker 1: on the other side of the aisle than Lester. And 611 00:34:28,360 --> 00:34:30,279 Speaker 1: you know, I do applaud the fact that it has 612 00:34:30,800 --> 00:34:34,320 Speaker 1: held out but certainly embarrassed away so many of my 613 00:34:34,480 --> 00:34:38,120 Speaker 1: former colleagues, the decided out have behaved in their lack 614 00:34:38,360 --> 00:34:43,239 Speaker 1: of character, dignity. I think this will be frowned on, 615 00:34:44,040 --> 00:34:46,520 Speaker 1: you know, in the history books, and maybe not even 616 00:34:46,600 --> 00:34:50,359 Speaker 1: that long from now. Um, for so few people having 617 00:34:50,440 --> 00:34:53,520 Speaker 1: the moral fortitude to stand up for democracy, I forget 618 00:34:53,600 --> 00:34:57,680 Speaker 1: who one lost, like this is our democracy and these 619 00:34:57,680 --> 00:35:01,640 Speaker 1: were frivolous lawsuits, this was a joke, Um, what was happening? 620 00:35:01,760 --> 00:35:05,320 Speaker 1: And still so few you know, folks in the Senate 621 00:35:05,400 --> 00:35:08,760 Speaker 1: and Republicans in the House stood up to stay President 622 00:35:08,840 --> 00:35:13,600 Speaker 1: Lactic called him, um, you know, to congratulate president like Biden, etcetera. 623 00:35:13,760 --> 00:35:16,680 Speaker 1: So I'm glad it's held up. But I hope this 624 00:35:16,840 --> 00:35:18,800 Speaker 1: is a wake up call to both sides the aisle 625 00:35:19,239 --> 00:35:22,600 Speaker 1: that things uh should be looked at, such as the 626 00:35:22,640 --> 00:35:26,800 Speaker 1: electoral college uh and addressed. I'm not really optimistic or 627 00:35:26,920 --> 00:35:30,440 Speaker 1: naive to think that's going to change, but um, you know, 628 00:35:30,520 --> 00:35:33,520 Speaker 1: it's awfully Um, it's awfully compelling when you look at 629 00:35:33,560 --> 00:35:36,200 Speaker 1: the math, when you know Secretary Clinton one by what 630 00:35:36,400 --> 00:35:41,360 Speaker 1: three million votes and Biden one by seven million votes, 631 00:35:41,680 --> 00:35:44,440 Speaker 1: And you know, if it weren't for tens of thousands 632 00:35:44,520 --> 00:35:47,759 Speaker 1: of people in a few states, this could have gone 633 00:35:47,840 --> 00:35:51,000 Speaker 1: towards Trump. Um. So you add all that up and 634 00:35:51,320 --> 00:35:53,960 Speaker 1: I think it's certainly gotta gotta gotta take a long 635 00:35:54,040 --> 00:35:56,360 Speaker 1: look at it. So where is this? Where is this 636 00:35:56,440 --> 00:35:59,319 Speaker 1: set up? The conversation though, because you and I both 637 00:35:59,400 --> 00:36:01,960 Speaker 1: know this, patch Rick, once the new Congress, this warning, 638 00:36:01,960 --> 00:36:05,680 Speaker 1: whether it's your Republican controlled Senate or a shrinking Democratic 639 00:36:05,760 --> 00:36:09,280 Speaker 1: majority in the House. The call and the poll suggests 640 00:36:09,360 --> 00:36:12,759 Speaker 1: that the president's message did resonate with Republicans. There are 641 00:36:12,840 --> 00:36:17,400 Speaker 1: Republicans who feel that there needs to be investigations into 642 00:36:18,440 --> 00:36:23,360 Speaker 1: how votes are are conducted. Where does it lead the 643 00:36:23,520 --> 00:36:27,480 Speaker 1: future of the Congress. I mean, especially Republicans control the Senate, Patrick, 644 00:36:27,920 --> 00:36:33,040 Speaker 1: These investigations are only going to continue. Yeah, And I 645 00:36:33,120 --> 00:36:36,080 Speaker 1: think you know, bigger picture, I think the tightening of 646 00:36:36,200 --> 00:36:39,200 Speaker 1: the House should be a warning signal across the bow 647 00:36:39,719 --> 00:36:43,640 Speaker 1: to UH, to leader Polos, to speak to Pelosi that 648 00:36:43,920 --> 00:36:47,600 Speaker 1: that this was a bit of a referendum on Trump perhaps, 649 00:36:48,080 --> 00:36:51,920 Speaker 1: but wasn't a full fledged support of the Democratic messaging. Um. 650 00:36:52,239 --> 00:36:56,040 Speaker 1: Both parties are clearly having their own civil wars right now. Um, 651 00:36:56,520 --> 00:36:59,080 Speaker 1: and I think those are going to be exacerbated by 652 00:36:59,239 --> 00:37:02,200 Speaker 1: some of these foundational problems we have that I just 653 00:37:02,280 --> 00:37:07,080 Speaker 1: mentioned earlier, UM, and I think whether it's the investigations 654 00:37:07,120 --> 00:37:10,520 Speaker 1: into the way votes were cast, or someone's tax records, 655 00:37:10,600 --> 00:37:12,960 Speaker 1: or you name it, the investigations are going to be 656 00:37:13,040 --> 00:37:16,560 Speaker 1: a tool to try to uncover, uh, whatever it might 657 00:37:16,600 --> 00:37:18,879 Speaker 1: be for political gain. Right that that's the game that's 658 00:37:18,920 --> 00:37:21,239 Speaker 1: being played. Find something negative to make the other party 659 00:37:21,280 --> 00:37:23,799 Speaker 1: look bad so you can play all right. Coming up next, 660 00:37:23,840 --> 00:37:25,800 Speaker 1: we check in with David Driven. Signed. I'm Kevin Surili. 661 00:37:25,840 --> 00:37:51,160 Speaker 1: You're listening to Bloomberg N one. This is Bloomberg Sound 662 00:37:51,280 --> 00:37:55,799 Speaker 1: On with Kevin Surrel on Bloomberg and one oh five 663 00:37:55,840 --> 00:37:59,680 Speaker 1: point seven f m h D two. I'm Kevin Surreally, 664 00:37:59,760 --> 00:38:02,799 Speaker 1: Chief Washington correspondent from Bloomberg Television and from Bloomberg Radio. 665 00:38:02,960 --> 00:38:07,000 Speaker 1: On a historic day, and historic day, truly, folks. As 666 00:38:07,080 --> 00:38:11,120 Speaker 1: the first COVID nineteen shots were administered by US hospitals 667 00:38:11,480 --> 00:38:15,360 Speaker 1: earlier today. This is the initial step in an historic 668 00:38:15,520 --> 00:38:19,600 Speaker 1: drive to help vaccinate millions of people this week, as 669 00:38:19,680 --> 00:38:24,239 Speaker 1: the Fiser vaccine is distributed nationwide. I want to bring 670 00:38:24,360 --> 00:38:28,759 Speaker 1: in to this conversation, Mr David Rubinstein, the Carlisle Group 671 00:38:28,800 --> 00:38:31,600 Speaker 1: co chairman and co founder, host of Peer to Peer 672 00:38:31,719 --> 00:38:36,359 Speaker 1: conversations with David Rubinstein on Bloomberg Television and radio, as 673 00:38:36,440 --> 00:38:39,720 Speaker 1: well as the author of How To Lead And and David, 674 00:38:39,800 --> 00:38:42,640 Speaker 1: I'm thrilled to have you back on the program. Your 675 00:38:42,719 --> 00:38:46,960 Speaker 1: new book, How to Lead, you write an incredible chapter 676 00:38:47,560 --> 00:38:52,239 Speaker 1: on Dr Anthony Fauci, reflecting on crisis management during a 677 00:38:52,320 --> 00:38:56,680 Speaker 1: global pandemic. And I want to get your take as 678 00:38:56,760 --> 00:39:00,360 Speaker 1: you followed and had conversations with these American lead leaders 679 00:39:00,800 --> 00:39:05,960 Speaker 1: like Dr Fauci throughout the past year, what do you 680 00:39:06,160 --> 00:39:09,360 Speaker 1: think a day like today means to someone like a 681 00:39:09,480 --> 00:39:13,880 Speaker 1: Dr Fauci. Well, obviously he's heartened because he's been vilified 682 00:39:14,040 --> 00:39:17,320 Speaker 1: by some unfortunately. And I think he's done an heroic 683 00:39:17,440 --> 00:39:19,879 Speaker 1: job of helping UH to get us to the point 684 00:39:19,920 --> 00:39:22,600 Speaker 1: where we have this vaccine. He wasn't in charge of 685 00:39:22,600 --> 00:39:25,600 Speaker 1: the vaccine manufacturing, that was somebody else, but he certainly 686 00:39:25,680 --> 00:39:28,520 Speaker 1: was involved in many of the parts of the information 687 00:39:28,560 --> 00:39:31,080 Speaker 1: that led to the vaccine and and and he's my 688 00:39:31,239 --> 00:39:34,000 Speaker 1: view of hero for America. UM, I think, when you 689 00:39:34,080 --> 00:39:37,760 Speaker 1: think about it, no vaccine has ever been produced so quickly. 690 00:39:38,600 --> 00:39:41,040 Speaker 1: Historically it takes about four to seven year for a 691 00:39:41,120 --> 00:39:43,359 Speaker 1: vaccine to be developed. Here, we produced one in less 692 00:39:43,360 --> 00:39:45,600 Speaker 1: than a year, and so we now have to go 693 00:39:45,719 --> 00:39:49,200 Speaker 1: through the massive vaccination process. We've never tried to vaccinate 694 00:39:49,239 --> 00:39:52,600 Speaker 1: the entire country so quickly, so that's another logistical challenge 695 00:39:52,640 --> 00:39:54,840 Speaker 1: we have to get through. I think Dr Faucci deserves 696 00:39:54,840 --> 00:39:56,680 Speaker 1: a lot of credit as long as as well as 697 00:39:56,760 --> 00:39:58,760 Speaker 1: all the other people have involved in the healthcare process, 698 00:39:58,760 --> 00:40:01,399 Speaker 1: in the vaccination process. In the last two weeks, I've 699 00:40:01,440 --> 00:40:03,960 Speaker 1: spoken with sources and lawmakers up on Capitol Hill and 700 00:40:04,000 --> 00:40:07,080 Speaker 1: they tell me that they're trying to work together to 701 00:40:07,400 --> 00:40:09,920 Speaker 1: push some type of funding. They'd like to see it 702 00:40:09,960 --> 00:40:12,560 Speaker 1: attached in the omnibus to it's a fund from the 703 00:40:12,880 --> 00:40:17,440 Speaker 1: UH from from a national advertising campaign, so to speak. 704 00:40:17,719 --> 00:40:22,080 Speaker 1: That would help de politicize getting the vaccine. But take 705 00:40:22,200 --> 00:40:24,160 Speaker 1: us behind the scenes. When you sit down with someone 706 00:40:24,239 --> 00:40:28,480 Speaker 1: like Dr Fauci and he's reflecting on crisis management, for example. 707 00:40:28,560 --> 00:40:30,480 Speaker 1: We all see the public side of him and the 708 00:40:30,560 --> 00:40:33,760 Speaker 1: interviews that you do on Pier to Pier for example, 709 00:40:33,880 --> 00:40:37,200 Speaker 1: But what did you glean in your interviews with him 710 00:40:37,360 --> 00:40:42,440 Speaker 1: about how he handles crisis management. Well, he's been through 711 00:40:42,520 --> 00:40:46,319 Speaker 1: many crises before Ebola, HIV or two well known ones, 712 00:40:46,400 --> 00:40:49,080 Speaker 1: but this one he was you know, fighting a rearguard 713 00:40:49,120 --> 00:40:52,160 Speaker 1: action to some extent. So he was being criticized for 714 00:40:52,640 --> 00:40:54,719 Speaker 1: various things, and so he had to deal with that 715 00:40:54,840 --> 00:40:57,440 Speaker 1: public criticism as well as trying to solve the medical problem. 716 00:40:57,760 --> 00:40:59,600 Speaker 1: But I talked to him at one point and said, 717 00:41:00,000 --> 00:41:01,600 Speaker 1: are you thinking of quitting? And he said, no, My 718 00:41:01,760 --> 00:41:04,200 Speaker 1: job is to save lives, and quitting isn't going to 719 00:41:04,280 --> 00:41:06,880 Speaker 1: save lives. So he's also a person that has no 720 00:41:07,040 --> 00:41:09,520 Speaker 1: interest in making money. He could go out tomorrow and 721 00:41:09,680 --> 00:41:12,680 Speaker 1: become a multi multi millionaire just making speeches, but he 722 00:41:12,719 --> 00:41:14,439 Speaker 1: doesn't want to do that. He doesn't care about money. 723 00:41:14,480 --> 00:41:17,640 Speaker 1: He cares about saving lives. Really admirable person. Where do 724 00:41:17,719 --> 00:41:19,759 Speaker 1: you think that comes from? I mean where when you 725 00:41:19,880 --> 00:41:21,279 Speaker 1: when you sit with him, and where does it as 726 00:41:21,320 --> 00:41:23,000 Speaker 1: it come from his childhood? Does it come from earlier 727 00:41:23,040 --> 00:41:25,840 Speaker 1: in his career, is at a higher calling? Well, I 728 00:41:25,920 --> 00:41:28,440 Speaker 1: think he's uh was as a young man. He went 729 00:41:28,520 --> 00:41:29,879 Speaker 1: to work at the n I H And just fell 730 00:41:29,920 --> 00:41:32,800 Speaker 1: in love with infectious disease research. And it just that 731 00:41:33,160 --> 00:41:35,640 Speaker 1: the money doesn't mean anything to him. You know, he's 732 00:41:35,680 --> 00:41:38,000 Speaker 1: had he has three daughters and I think you know, 733 00:41:38,040 --> 00:41:40,520 Speaker 1: I had to borrow some money to put them through college. 734 00:41:40,600 --> 00:41:43,040 Speaker 1: But that's not what he cares about. He cares about 735 00:41:43,239 --> 00:41:45,640 Speaker 1: the fact that that he can save lives in the 736 00:41:45,719 --> 00:41:47,520 Speaker 1: job he has. So he's now eighty years old, he's 737 00:41:47,560 --> 00:41:49,840 Speaker 1: been doing a job for thirty six years, and the 738 00:41:49,880 --> 00:41:52,560 Speaker 1: head of ni H division, And you know, these kind 739 00:41:52,600 --> 00:41:55,759 Speaker 1: of people we should look up to. I think David 740 00:41:55,800 --> 00:41:59,879 Speaker 1: Drubends signs with us. He is, of course, the coach, 741 00:42:00,000 --> 00:42:02,120 Speaker 1: founder and co chairman of the Carlisle Group and the 742 00:42:02,160 --> 00:42:05,600 Speaker 1: host of Peer to Peer Conversations with David Rubinstein on 743 00:42:05,640 --> 00:42:08,360 Speaker 1: Bloomberg Television and Bloomberg Radio, and the author of the 744 00:42:08,400 --> 00:42:10,800 Speaker 1: book How to Lead. We've interviewed him before about this, 745 00:42:11,000 --> 00:42:15,960 Speaker 1: but on such an incredibly important and historic day in 746 00:42:16,040 --> 00:42:20,239 Speaker 1: which the vaccines are finally being pushed into the into 747 00:42:20,280 --> 00:42:23,960 Speaker 1: the marketplace, let me ask you, David, from before we 748 00:42:24,000 --> 00:42:26,000 Speaker 1: get back to the book, but from from a private 749 00:42:26,080 --> 00:42:30,520 Speaker 1: sector uh perspective. You look at all of the pharmaceutical 750 00:42:30,600 --> 00:42:34,200 Speaker 1: companies who are developing these vaccines. Now they're being uh 751 00:42:35,160 --> 00:42:38,440 Speaker 1: entered into the marketplace. Really is a public and a 752 00:42:38,520 --> 00:42:42,760 Speaker 1: private partnership like we've never seen before in modern times. 753 00:42:43,040 --> 00:42:44,680 Speaker 1: What do you think some of the lessons will be 754 00:42:44,960 --> 00:42:49,320 Speaker 1: of that public private partnership as we all anxiously await 755 00:42:50,000 --> 00:42:53,800 Speaker 1: getting out of this pandemic. Well, a public private partnership 756 00:42:53,840 --> 00:42:57,080 Speaker 1: shows uh that when you have combined forces, you can 757 00:42:57,200 --> 00:42:59,520 Speaker 1: get a lot of things done very quickly. And so 758 00:42:59,680 --> 00:43:01,600 Speaker 1: here you had a fair amount of money to put 759 00:43:01,719 --> 00:43:03,960 Speaker 1: it into the problem, but you have the cooperation of 760 00:43:04,000 --> 00:43:07,480 Speaker 1: the government and the cooperation of the private sector. It's 761 00:43:07,520 --> 00:43:11,040 Speaker 1: kind of a domestic uh Manhattan Project in some sense. Uh. 762 00:43:11,280 --> 00:43:13,200 Speaker 1: You know, the Manhattan Project was done in secrecy. This 763 00:43:13,320 --> 00:43:16,720 Speaker 1: was done publicly, but it was combined forces of science 764 00:43:16,800 --> 00:43:19,240 Speaker 1: and and uh in the private sector to put together 765 00:43:19,800 --> 00:43:21,439 Speaker 1: and the best minds in the country to put together 766 00:43:21,520 --> 00:43:24,799 Speaker 1: the solution. Now that's this is not the easy part. 767 00:43:24,840 --> 00:43:27,399 Speaker 1: It's hard to get this vaccine, But the really hard 768 00:43:27,480 --> 00:43:29,800 Speaker 1: part is going to get everybody to take it. A 769 00:43:29,880 --> 00:43:31,840 Speaker 1: lot of people do not want to take the vaccine. 770 00:43:31,880 --> 00:43:34,320 Speaker 1: Some people don't believe in vaccines, some people are afraid 771 00:43:34,400 --> 00:43:36,960 Speaker 1: this one has been politicized, and some people just want 772 00:43:37,000 --> 00:43:38,640 Speaker 1: to see what other people do first and see what 773 00:43:38,680 --> 00:43:40,960 Speaker 1: the reaction is. So it's going to be not until 774 00:43:41,040 --> 00:43:43,320 Speaker 1: the end of the third quarter. I suspect maybe in 775 00:43:43,360 --> 00:43:48,080 Speaker 1: the fourth quarter before we have somewhere close to fifties vaccinated. 776 00:43:48,320 --> 00:43:49,839 Speaker 1: And I gotta be honest. I mean, that's the question 777 00:43:49,840 --> 00:43:51,880 Speaker 1: I get from people all the time, is can they 778 00:43:51,880 --> 00:43:54,400 Speaker 1: trust the vaccine? I mean what, I'm the scientist, but 779 00:43:54,480 --> 00:43:56,759 Speaker 1: based upon my reporting, when I talked to lawmakers, when 780 00:43:56,760 --> 00:43:58,600 Speaker 1: I talked to the experts, what they tell me is 781 00:43:58,880 --> 00:44:01,480 Speaker 1: they've been studying this strand of the virus even before 782 00:44:01,640 --> 00:44:04,319 Speaker 1: COVID nineteen. So it's not like they had to build 783 00:44:04,400 --> 00:44:06,719 Speaker 1: this science upon nothing. It's a building block. And so 784 00:44:07,520 --> 00:44:10,280 Speaker 1: obviously this is in record time and there are heroes 785 00:44:10,360 --> 00:44:14,080 Speaker 1: on the front lines and the scientific community, but uh, 786 00:44:14,360 --> 00:44:16,440 Speaker 1: I mean, folks, this is not this is this has 787 00:44:16,480 --> 00:44:19,640 Speaker 1: been a building block type of science. David Reuben Science 788 00:44:19,719 --> 00:44:22,319 Speaker 1: with US. The government plans to distribute at least two 789 00:44:22,440 --> 00:44:26,440 Speaker 1: point nine million doses to US states during the week ahead. 790 00:44:26,840 --> 00:44:29,880 Speaker 1: The Centers for Disease Control and Prevention recommended that the 791 00:44:29,960 --> 00:44:32,959 Speaker 1: first shots go to healthcare workers and those in long 792 00:44:33,280 --> 00:44:37,760 Speaker 1: term care facilities, including the nation's hard hit nursing homes. 793 00:44:37,800 --> 00:44:40,760 Speaker 1: President Electjoe Biden saying last week he plans to issue 794 00:44:41,239 --> 00:44:45,040 Speaker 1: one hundred million vaccines in his first one hundred days. 795 00:44:45,280 --> 00:44:50,480 Speaker 1: From a historical perspective, David Rubinstein, just how much of 796 00:44:50,560 --> 00:44:54,360 Speaker 1: the vaccine rollout is going to be uh the backdrop 797 00:44:54,480 --> 00:44:59,320 Speaker 1: really to the incoming administration. Well, the incoming administration is 798 00:44:59,360 --> 00:45:01,120 Speaker 1: going to try to build on what has been done 799 00:45:01,480 --> 00:45:04,880 Speaker 1: by the outgoing administration. It would be uh, you know, 800 00:45:05,080 --> 00:45:07,920 Speaker 1: full party to overlook all the scientific achievements that the 801 00:45:08,560 --> 00:45:11,120 Speaker 1: the outgoing administration has done to get this vaccine to 802 00:45:11,200 --> 00:45:13,879 Speaker 1: this point. The big challenge now is to convince people 803 00:45:13,920 --> 00:45:16,160 Speaker 1: to take it. To convince people to take it. It's 804 00:45:16,160 --> 00:45:18,239 Speaker 1: one thing to have a vaccine, but people don't take it, 805 00:45:18,280 --> 00:45:20,200 Speaker 1: it's not gonna have the effect we need. So it 806 00:45:20,320 --> 00:45:23,640 Speaker 1: has to be enormous education effort to get people willing 807 00:45:23,680 --> 00:45:26,400 Speaker 1: to take it, in a gigantic logistical effort to get 808 00:45:26,520 --> 00:45:28,720 Speaker 1: get it available to people in all parts of the country, 809 00:45:28,840 --> 00:45:32,480 Speaker 1: remote parts of the country particularly precisely. And then and 810 00:45:32,560 --> 00:45:35,719 Speaker 1: then how businesses deal with that, and how of all 811 00:45:35,800 --> 00:45:38,279 Speaker 1: of the different companies deal with that is going to 812 00:45:38,360 --> 00:45:41,120 Speaker 1: be so crucial. Final question for you, David Rubinstein. Everyone 813 00:45:41,200 --> 00:45:44,560 Speaker 1: knows you in Washington, d C. Obviously in terms of 814 00:45:45,040 --> 00:45:48,120 Speaker 1: being such a force in the in the country. When 815 00:45:48,239 --> 00:45:52,200 Speaker 1: where did you find the time to write the book? Well, 816 00:45:52,719 --> 00:45:55,320 Speaker 1: on weekends, I don't play golf, so that saves a 817 00:45:55,360 --> 00:45:58,040 Speaker 1: lot of time. I don't drink alcohol, so that saves 818 00:45:58,040 --> 00:46:01,000 Speaker 1: a lot of time. And you know, at the moment, 819 00:46:01,560 --> 00:46:04,200 Speaker 1: you know, I generally regard my weekends as weekdays, so I'm, 820 00:46:04,640 --> 00:46:07,400 Speaker 1: you know, able to work during the weekends. And uh, 821 00:46:07,640 --> 00:46:09,080 Speaker 1: you know, if I was a great golfer or a 822 00:46:09,080 --> 00:46:12,200 Speaker 1: great athlete or at other outside interests, maybe I wouldn't 823 00:46:12,200 --> 00:46:14,200 Speaker 1: have been to have the time. But it's actually a 824 00:46:14,280 --> 00:46:17,000 Speaker 1: pleasure to do it. So I was really rereading and 825 00:46:17,320 --> 00:46:19,360 Speaker 1: editing the interviews had already done, and I enjoyed doing it. 826 00:46:19,480 --> 00:46:22,600 Speaker 1: So not a problem at all, David Rubinstein, pleasure was 827 00:46:22,640 --> 00:46:24,400 Speaker 1: all mine. Thank you so much, sir for giving me 828 00:46:24,480 --> 00:46:28,279 Speaker 1: the time for the second. That's David Rubinstein and his 829 00:46:28,400 --> 00:46:30,680 Speaker 1: new book is called How to Lead Wisdom from the 830 00:46:30,719 --> 00:46:34,600 Speaker 1: World's Greatest CEOs, Founders and Game Changers. He is the 831 00:46:34,920 --> 00:46:38,120 Speaker 1: co chairman and co founder of the Carlisle Group and 832 00:46:38,200 --> 00:46:41,200 Speaker 1: the host appear to Peer Conversations with David Rubenstein Wich 833 00:46:41,200 --> 00:46:46,320 Speaker 1: airs on Bloomberg Television and on Bloomberg Radio. Meanwhile, breaking 834 00:46:46,400 --> 00:46:50,200 Speaker 1: news headline crossing the Bloomberg terminal right now, Attorney General 835 00:46:50,280 --> 00:46:53,160 Speaker 1: William Barr has is going to leave the Department of 836 00:46:53,280 --> 00:46:57,040 Speaker 1: Justice by Christmas. Again. President Trump just tweeting out moments 837 00:46:57,080 --> 00:47:00,279 Speaker 1: ago that Attorney General William Barr will leave eve the 838 00:47:00,320 --> 00:47:04,040 Speaker 1: Department of Justice by Christmas. He tweeted out, just had 839 00:47:04,080 --> 00:47:06,200 Speaker 1: a very nice meeting with Attorney General Bill Barr at 840 00:47:06,239 --> 00:47:08,920 Speaker 1: the White House. Our relationship has been a very good one. 841 00:47:09,280 --> 00:47:12,239 Speaker 1: He has done an outstanding job. As per letter, Bill 842 00:47:12,280 --> 00:47:16,400 Speaker 1: will be leaving just before Christmas to spend the holidays 843 00:47:16,840 --> 00:47:21,800 Speaker 1: with his family. So again, a remarkable headline crossing the 844 00:47:21,800 --> 00:47:25,520 Speaker 1: Bloomberg terminal redheadline for that matter, that President Trump has 845 00:47:25,560 --> 00:47:28,600 Speaker 1: said Attorney General William Barr is going to leave the 846 00:47:28,680 --> 00:47:33,200 Speaker 1: Department of Justice by Christmas and just more than a week. Um, 847 00:47:33,600 --> 00:47:36,080 Speaker 1: we'll get panel reaction on this. Download the Bloomberg Sound 848 00:47:36,160 --> 00:47:39,040 Speaker 1: On podcast on Apple iTunes, at Bloomberg dot com, or 849 00:47:39,120 --> 00:47:41,680 Speaker 1: by downloading the Bloomberg Business App. You can also find 850 00:47:41,719 --> 00:47:44,280 Speaker 1: me on Radio dot com, I Heart Radio, and Spotify. 851 00:47:44,440 --> 00:47:47,440 Speaker 1: My name is Kevin CURRELLI I'm the chief Washington correspondent 852 00:47:47,480 --> 00:47:51,600 Speaker 1: for Bloomberg Television and for Bloomberg Radio. Bill bars out, 853 00:47:52,200 --> 00:48:25,320 Speaker 1: you're listening to Bloomberg. This is Bloomberg's Sound On with 854 00:48:25,560 --> 00:48:29,959 Speaker 1: Kevin Surreley on Bloomberg and one oh five point seven 855 00:48:30,080 --> 00:48:33,319 Speaker 1: FM HD two. I'm Kevin CURRELI Chief Washington correspondent from 856 00:48:33,320 --> 00:48:36,160 Speaker 1: Bloomberg TV and Radio breaking news. Just within the last 857 00:48:36,200 --> 00:48:40,320 Speaker 1: couple of minutes, Attorney General William Barr is going to 858 00:48:41,160 --> 00:48:45,680 Speaker 1: be out as a g by Christmas again. President Trump 859 00:48:45,719 --> 00:48:48,080 Speaker 1: says Attorney General Bill Barr to leave the Department of 860 00:48:48,160 --> 00:48:52,320 Speaker 1: Justice by Christmas. This means that the Deputy Attorney General, 861 00:48:52,400 --> 00:48:57,319 Speaker 1: Jeff Rosen will become the acting Attorney General, just five 862 00:48:57,440 --> 00:49:02,400 Speaker 1: weeks left in the Trump administer ration. Here for complete reaction. 863 00:49:02,840 --> 00:49:06,560 Speaker 1: Patrick Murphy, former Florida congressman, a Democrat from Florida. Lesser 864 00:49:06,640 --> 00:49:10,399 Speaker 1: months in principle at government relations firm b GR Group. Wow, 865 00:49:10,719 --> 00:49:12,920 Speaker 1: never a dull moment. Who I think Lesser at the 866 00:49:12,960 --> 00:49:15,759 Speaker 1: top of the hour said that this was the Trump Show. 867 00:49:15,920 --> 00:49:22,320 Speaker 1: So I mean Bill bars out? Wow Lesser, Yeah, I 868 00:49:22,360 --> 00:49:24,360 Speaker 1: mean that's all I got. I mean, have a question, reaction, 869 00:49:24,440 --> 00:49:28,640 Speaker 1: I need reaction like, well, well, it's hard to tell, right, 870 00:49:29,120 --> 00:49:31,000 Speaker 1: we have a little bit of information. It seems like 871 00:49:31,080 --> 00:49:34,600 Speaker 1: a positive tweet from the President about Bill Barr. Meanwhile, 872 00:49:35,280 --> 00:49:38,520 Speaker 1: the president spokesperson was saying very critical things of the 873 00:49:38,600 --> 00:49:43,520 Speaker 1: Attorney General over the weekend regarding the Hunter Biden investigation. 874 00:49:44,080 --> 00:49:45,920 Speaker 1: So it seems like there's there's going to be more 875 00:49:46,080 --> 00:49:50,040 Speaker 1: rhetoric to come, more narrative shaping to come. Does this 876 00:49:50,200 --> 00:49:52,360 Speaker 1: play a role in how the president is going to 877 00:49:52,440 --> 00:49:54,920 Speaker 1: explain why he lost or didn't win a second term? 878 00:49:55,120 --> 00:49:58,480 Speaker 1: I suspect it will. So I guess we see what 879 00:49:58,560 --> 00:50:00,799 Speaker 1: the next five weeks are going to be about. I mean, 880 00:50:01,160 --> 00:50:05,520 Speaker 1: Patrick Murphy. There's been so much palace intrigue about Bill 881 00:50:05,600 --> 00:50:10,560 Speaker 1: Barr's relationship with regards to the president. The Wall Street 882 00:50:10,600 --> 00:50:13,840 Speaker 1: Journal reported earlier this morning that bar kept Hunter Biden 883 00:50:13,880 --> 00:50:17,680 Speaker 1: probes from public to avoid election politics. I mean Hunter 884 00:50:17,840 --> 00:50:21,440 Speaker 1: Biden and this whole story. Uh, Bill barrs wrapped up 885 00:50:21,480 --> 00:50:26,279 Speaker 1: in in it. I mean. But the tweet correctly, as 886 00:50:26,320 --> 00:50:28,920 Speaker 1: Lesser points out, as positive. But there's so much intrigue 887 00:50:29,280 --> 00:50:32,800 Speaker 1: now into what actually went down with now the fire, 888 00:50:33,000 --> 00:50:35,280 Speaker 1: I don't we can't call it a firing with according 889 00:50:35,320 --> 00:50:38,160 Speaker 1: to the tweet, a resignation letter that was submitted to 890 00:50:38,400 --> 00:50:43,960 Speaker 1: to President Trump, Patrick Murphy. It's probably mutually assured destruction. Uh, 891 00:50:44,840 --> 00:50:47,160 Speaker 1: you know, I can't help the speculate there's more to it. 892 00:50:47,440 --> 00:50:53,080 Speaker 1: And more trustrations on President Trump's and towards the alturning 893 00:50:53,120 --> 00:50:57,040 Speaker 1: General bar As two information or the cases that weren't 894 00:50:57,080 --> 00:51:01,359 Speaker 1: released and then not pursued. Um and and perhaps bar 895 00:51:01,520 --> 00:51:02,880 Speaker 1: just saying I've had enough of it. I don't want 896 00:51:02,920 --> 00:51:04,840 Speaker 1: to deal with it anymore. And I'm gonna leave on 897 00:51:04,880 --> 00:51:06,880 Speaker 1: this note. I'm not going to continue these fights. UM. 898 00:51:07,000 --> 00:51:10,000 Speaker 1: I probably can't blame him for that. Um. But I 899 00:51:10,200 --> 00:51:11,960 Speaker 1: imagine we will have some weeks on this. In the 900 00:51:12,040 --> 00:51:13,840 Speaker 1: next couple of weeks. Do you think we'll have a 901 00:51:13,920 --> 00:51:15,960 Speaker 1: book on it? Do you think we'll get some of it? 902 00:51:16,760 --> 00:51:18,000 Speaker 1: Do you know what I mean? No, I mean, do 903 00:51:18,080 --> 00:51:20,359 Speaker 1: you think Bill what does Bill bar do next? I mean, 904 00:51:20,400 --> 00:51:23,480 Speaker 1: does he does he? What? What do you think? I mean? 905 00:51:23,520 --> 00:51:25,640 Speaker 1: Give us, give us his options, Patrick Purphy and then less. 906 00:51:25,640 --> 00:51:28,800 Speaker 1: They're the same question to you. Yeah, I wish I 907 00:51:28,840 --> 00:51:30,800 Speaker 1: could speak more. I don't know enough about his background 908 00:51:30,880 --> 00:51:35,600 Speaker 1: and financial circumstances, but uh, you know, he's certainly entered 909 00:51:36,080 --> 00:51:38,440 Speaker 1: this administration with a lot of high hopes, and I 910 00:51:38,520 --> 00:51:42,200 Speaker 1: think Republican Democrats were I think hopeful that he would 911 00:51:42,200 --> 00:51:44,520 Speaker 1: be an honest broker. Um. You know, I guess I'm 912 00:51:44,920 --> 00:51:47,839 Speaker 1: perhaps partisan on this one. But I do not think 913 00:51:48,440 --> 00:51:52,080 Speaker 1: he served in any sort of uh typical attorney general 914 00:51:52,200 --> 00:51:55,600 Speaker 1: role and being an honest broker for the country. So 915 00:51:55,800 --> 00:51:58,080 Speaker 1: I think very disappointing. I think that limits his options. 916 00:51:58,280 --> 00:52:03,960 Speaker 1: But of course, so why not write a book? Why 917 00:52:04,000 --> 00:52:07,400 Speaker 1: not going to speaking towards you know, That's what I 918 00:52:07,520 --> 00:52:10,160 Speaker 1: learned today when I spoke to David Rubinstein. I said, 919 00:52:10,160 --> 00:52:13,440 Speaker 1: if David Rubinstein can have find the time, David signs 920 00:52:13,480 --> 00:52:19,239 Speaker 1: the biggest busiest parts, busiest person like ever. He's like, 921 00:52:19,719 --> 00:52:22,239 Speaker 1: he's a total workforce. He's toward a force. If he 922 00:52:22,280 --> 00:52:23,879 Speaker 1: can find the time to write a book, and then 923 00:52:24,239 --> 00:52:26,960 Speaker 1: you know that other people should be able to as well. 924 00:52:27,080 --> 00:52:32,040 Speaker 1: Lester Munson, do you think we'll get a Bill bar book? Uh? 925 00:52:32,200 --> 00:52:35,360 Speaker 1: You know, I I'd read it. I do destrove with 926 00:52:35,440 --> 00:52:38,680 Speaker 1: Patrick a little bit. I think Bildbar did do a 927 00:52:38,719 --> 00:52:41,160 Speaker 1: good job. I may not have agreed with everything he did, 928 00:52:41,320 --> 00:52:45,880 Speaker 1: but he vigorously defended the president when he felt it 929 00:52:45,960 --> 00:52:48,720 Speaker 1: was appropriate, and he didn't when he felt it wasn't appropriate. 930 00:52:48,840 --> 00:52:51,560 Speaker 1: And I think he made some some tough decisions. I 931 00:52:51,760 --> 00:52:54,360 Speaker 1: liked him in the Bush the first Bush administration. I 932 00:52:54,520 --> 00:52:57,480 Speaker 1: thought he did a stand up job. This time he 933 00:52:57,600 --> 00:53:00,440 Speaker 1: drew the line a lot of times when other people wouldn't. 934 00:53:01,520 --> 00:53:03,600 Speaker 1: I think he'll go down, and you know, there's there 935 00:53:03,680 --> 00:53:05,160 Speaker 1: still needs to be a story to be told here 936 00:53:05,200 --> 00:53:09,360 Speaker 1: about why he's departing clearly, but I suspect he'll be 937 00:53:09,520 --> 00:53:13,560 Speaker 1: viewed well, uh once once we get through the current madness. 938 00:53:14,040 --> 00:53:15,920 Speaker 1: Um and if you know, if nothing else, you know, 939 00:53:16,080 --> 00:53:18,600 Speaker 1: in my day job, I'm a lobbyist. It'd be a 940 00:53:18,640 --> 00:53:21,480 Speaker 1: pretty good lobbyist. Maybe I can convince them to join 941 00:53:21,560 --> 00:53:24,960 Speaker 1: our firm. What you heard it here first? Alright time 942 00:53:24,960 --> 00:53:26,560 Speaker 1: now for my favorite part of the program. What's on 943 00:53:26,600 --> 00:53:29,839 Speaker 1: the panel's radar? Uh, Patrick Murphy, what is on your radar? 944 00:53:31,400 --> 00:53:33,520 Speaker 1: You know, on the heels of the straight news about 945 00:53:33,560 --> 00:53:37,759 Speaker 1: the vaccine being deployed today. I'm curious what's next, you know. 946 00:53:37,800 --> 00:53:40,480 Speaker 1: I started to read some articles about the technology and 947 00:53:40,719 --> 00:53:44,520 Speaker 1: and uh, there's RNA that's behind this vaccine, um and 948 00:53:44,640 --> 00:53:46,520 Speaker 1: what does that mean for heart disease? What that means 949 00:53:46,560 --> 00:53:50,320 Speaker 1: for Canton. I'm very excited to see where this goes. 950 00:53:50,440 --> 00:53:53,239 Speaker 1: And and and great day for America, right day for 951 00:53:53,280 --> 00:53:55,839 Speaker 1: the world. Well, and I thought I thought David Rubinstein 952 00:53:56,600 --> 00:53:59,000 Speaker 1: actually put it well when he said this is in 953 00:53:59,080 --> 00:54:03,719 Speaker 1: many ways Manhattan Project moment for for the Western hemisphere, 954 00:54:03,800 --> 00:54:05,279 Speaker 1: I mean in the side, and that's what I just 955 00:54:06,400 --> 00:54:08,360 Speaker 1: I guess as as a journalist, I'm a little bit 956 00:54:08,400 --> 00:54:13,319 Speaker 1: disappointed that that this wasn't as I mean, it was magnified, 957 00:54:13,440 --> 00:54:15,839 Speaker 1: but I mean just the optimism that we should all 958 00:54:15,880 --> 00:54:17,960 Speaker 1: be feeling today, Patrick, that I think you're tapping into 959 00:54:18,400 --> 00:54:21,759 Speaker 1: about the breakthrough and the magnitude of this moment, that 960 00:54:21,880 --> 00:54:24,160 Speaker 1: that it's here, you know, and that we were able 961 00:54:24,200 --> 00:54:26,520 Speaker 1: to develop not we, but the scientists were able to 962 00:54:26,600 --> 00:54:30,719 Speaker 1: develop this vaccine and in a couple of months. I mean, 963 00:54:30,840 --> 00:54:33,480 Speaker 1: what that will show and what that will do for 964 00:54:33,920 --> 00:54:38,880 Speaker 1: for ending future pandemics is really something to be you know, 965 00:54:39,040 --> 00:54:49,480 Speaker 1: marveled at. Patrick, and I just uh, you know, celebrations 966 00:54:49,480 --> 00:54:52,480 Speaker 1: in the street quite frankly, considering what people have been 967 00:54:52,480 --> 00:54:55,400 Speaker 1: going through last nine months or so. Um So, you know, 968 00:54:55,520 --> 00:54:57,040 Speaker 1: I think maybe that takes a little bit of time. 969 00:54:57,400 --> 00:54:59,719 Speaker 1: There is, of course, conspiracy theories about a vaccine and 970 00:54:59,800 --> 00:55:01,759 Speaker 1: all at maybe that's part of the problem right now. 971 00:55:01,880 --> 00:55:05,040 Speaker 1: But again, I think we're gonna look back at this 972 00:55:05,120 --> 00:55:11,919 Speaker 1: as a big achievement for her civilizations. Like frankly, yeah, exactly, exactly, okay, 973 00:55:11,960 --> 00:55:16,799 Speaker 1: Lesser Munson, What is on your radar? Two things. One, 974 00:55:16,960 --> 00:55:20,440 Speaker 1: I'm watching Western Sahara, which the US is now saying, 975 00:55:20,600 --> 00:55:23,840 Speaker 1: since Morocco's peace deal with Israel, that we're going to 976 00:55:24,200 --> 00:55:26,920 Speaker 1: recognize Moroccan sovereignty there. It's an issue I've been tracking 977 00:55:27,000 --> 00:55:28,960 Speaker 1: for a long time. It's a little bit obscure. I 978 00:55:29,080 --> 00:55:31,759 Speaker 1: know it like keep an eye on North Africa. Could 979 00:55:31,800 --> 00:55:33,960 Speaker 1: be could be a little bit more disruptive than we 980 00:55:34,120 --> 00:55:37,839 Speaker 1: originally thought. And I'm also watching the conversation on Twitter 981 00:55:37,920 --> 00:55:41,000 Speaker 1: and elsewhere about the possibility of Julian massage or even 982 00:55:41,120 --> 00:55:44,200 Speaker 1: Edward Snowden getting a pardon from the president could cause 983 00:55:44,239 --> 00:55:48,000 Speaker 1: a real breach inside the Republican Party where national security 984 00:55:48,480 --> 00:55:51,800 Speaker 1: conservatives would become much more critical of the president, and 985 00:55:51,920 --> 00:55:55,160 Speaker 1: that would really have implications with regards to the President's 986 00:55:55,560 --> 00:56:00,359 Speaker 1: future political ambitions. Even if that does include, no doubt, 987 00:56:00,400 --> 00:56:03,120 Speaker 1: that will be something that we will all be watching for. 988 00:56:03,640 --> 00:56:06,240 Speaker 1: Um here's what's on my radar. And and it remains 989 00:56:06,520 --> 00:56:10,040 Speaker 1: very obvious, but it's a vaccine. I think it bears repeating. 990 00:56:10,600 --> 00:56:13,880 Speaker 1: The vaccine is out, It is slowly now going to 991 00:56:14,000 --> 00:56:18,000 Speaker 1: be administered throughout the country to frontline workers. And to 992 00:56:18,400 --> 00:56:21,920 Speaker 1: everyone on the front lines and as well as healthcare 993 00:56:21,960 --> 00:56:26,920 Speaker 1: professionals and senior citizens, retirement centers and look, we've all 994 00:56:26,960 --> 00:56:29,319 Speaker 1: been looking forward to it since March. So it's here. 995 00:56:29,400 --> 00:56:32,239 Speaker 1: It's a day that I've been waiting for personally. Uh 996 00:56:32,480 --> 00:56:34,320 Speaker 1: And I don't know, I think it. I think it 997 00:56:34,400 --> 00:56:37,560 Speaker 1: bears repeating that we got we got to this day. Uh. 998 00:56:37,640 --> 00:56:39,439 Speaker 1: And it's it's a day that was difficult for many 999 00:56:39,480 --> 00:56:42,759 Speaker 1: people to get to. So congrats, pat yourself on the back. 1000 00:56:43,320 --> 00:56:47,200 Speaker 1: My thanks to Lester Monthson, My thanks to Patrick Murphy. Patrick, 1001 00:56:47,280 --> 00:56:50,879 Speaker 1: are you on a boat? I'm not on the boat. 1002 00:56:51,120 --> 00:56:53,120 Speaker 1: I was over the weekend. I was an efficient tournament. 1003 00:56:53,239 --> 00:56:58,799 Speaker 1: So did you win? I'm sorry, you know it. Guess 1004 00:56:58,800 --> 00:57:02,279 Speaker 1: who won the Philadelphia Eagles. That's who won. Download the 1005 00:57:02,280 --> 00:57:05,520 Speaker 1: Bloomberg Sound on podcast on Apple iTunes, a Bloomberg dot Com, 1006 00:57:05,640 --> 00:57:08,160 Speaker 1: or by downloading the Bloomberg Business app. You can also 1007 00:57:08,200 --> 00:57:11,520 Speaker 1: find me on Radio dot com, I Heart Radio, and Spotify. Tomorrow, 1008 00:57:11,560 --> 00:57:14,160 Speaker 1: I check in with Congressman Josh Gottheimer, chairman of the 1009 00:57:14,200 --> 00:57:17,360 Speaker 1: Problem Solvers Caucus, about that new policy proposal on the 1010 00:57:17,440 --> 00:57:20,080 Speaker 1: fiscal stimulus front. Are they going to get to a deal? 1011 00:57:20,480 --> 00:57:23,360 Speaker 1: Maybe they should bring in jail and hurts. I'm Kevin CURRELLI, 1012 00:57:23,560 --> 00:57:26,160 Speaker 1: Chief Washington correspondent from Bloomberg TV and Radio. You're listening 1013 00:57:26,200 --> 00:57:26,720 Speaker 1: to Bloomberg