tv With All Due Respect Bloomberg December 3, 2016 10:00am-11:01am EST
♪ >> it was the best of times, and now it is the last of times. welcome to this final edition of "best of with all due respect." we begin with donald trump, and how he prepares his team. >> it has been 23 days sent donald trump has become president-elect. become president-elect. but we have heard plenty from his twitter feed, we have not
seen much of him except until today. he had his first public event. he is kicking off his victory lap thank you toward this evening. the first of it took place this afternoon in indianapolis. he basked in the glow of the deal that he and mike pence created to keep jobs in the u.s.. there was no cell -- there was no lack of self aggrandizing, but his demeanor was called. he was optimistic about the nation's economic future. i just want to let the other companies know that we are going to do great things for business. your taxes are going to be on the low end. your unnecessary regulations are going to become. we need regulations for safety, environment, and things. most of the regulations are nonsense. these companies are not going to be leaving anymore. they are not good to be taking heartss hears out. --
out. >> mark, on the basis of what we have seen, what you think we will see from donald trump on the rest of this victory rally toward -- tour? mark: a pretty typical guy. self-aggrandizing, and emphasis on winning, mocking the media. it was very similar. he did not call her "cricket crooked-- cr -- hillary," but otherwise it was pretty similar to one of his rally events. i will say that the trump brand and the successful political brand has been emphasizing winning. this deal, for all of its flaws, is winning. this is it. this is the version of the
president we will get, january. if that is right, and the basis of the indianapolis event suggests we will see a lot of campaign style trump on the morery tour, it seems clear than ever that this tour is not so much about saying thank you. -- everyone will cringe when i say this, but it is really the first set of events for the 2020 campaign. donald trump managed to win the election in some ways that was completely predictable, and was in other ways completely shocking. he won the election off the blue wall. wisconsin, michigan, some of the places he is going to be going on this tour. he won indiana by a lot. he knows that it views going to be reelected, he needs to
maintain a strong basis or his strong basisort -- of political support in these places. i think in the next few days, he is already going to be looking for that support in the future election. mark: i say this without really , but thehe answer question is raised -- why did the current president do this? i think that was part of the victory lap. currentthink the president did not want to do what is about to happen. the reason the deal happened was because of tax policy. it is not about a lunch of small inducements back up laid out. this is a larger think that is going on with carrier's parent company. think barack obama
wanted to play that game. mark: let's talk about the merits of this deal. in exchange for keeping the jobs in indiana, the hoosier state is going to give the company $7 million in incentives over the next few years. 's parent company once to have some good standing with the incoming trump administration. the conglomerate is a major defense contractor in addition to creating air-conditioners. a lot of its business is with the federal government. it will benefit the fact that donald trump, if you can, will try to cut corporate taxes and regulations. he does that, they will benefit. a lot of people do not like this deal, including bernie sanders. he is very peeved. op-ed inhed a scathing
the washington post today. he went after donald trump for reversing a campaign promise. damnote, " instead of a tax, the company will be rewarded with a damn tax cut." john, what do you think? john: i was never a fan of tariffs. i was never a fan of donald trump's plan with carrier. just a few months ago, his plan was to make them pay a damn tax if they were going to move jobs overseas. regardless of where you stand, it is 180 degrees out from the deal he cut with carrier. the planet he would cut their taxes owing forward.
i think bernie sanders is right to call this out as a perfect reversal from what his position was previously. as i said before, i am not for tariffs, but that is what he said he is going to do. he is doing the opposite. mark: there are a lot of flaws with this. i agree with critics that say that if democrats do this, it would have been heavily criticized. i will say this -- the notion of a president advocating for jobs, i think there is a positive there. people are going to say that other businesses will demand the same thing, but i do not think that is true. i think will be a culture of doing the right thing -- keeping jobs here, and trying to get a pr benefit on that even if you do not get the same level of tax incentives could -- incentives. john: i never thought i would -ish.you pollyanna
but there you go, for the first time in the show. anyway, donald trump courtship with capitol hill republicans is likely to be a political soap opera next year. for now, they are still in that week nothings phase. mike pence met with congressional republicans yesterday. they say they came up with plans for a more perfect, non-same-sex union in the coming months. during a press conference today, house speaker paul ryan addressed hot button issues with medicare. he also said he is not yet talked with the donald trump transition team of the move to privatize medicare. donald trump did not show much interest in that during the campaign. some other issues that could cause discord between donald
trump and capitol hill would involve immigration and the debt ceiling. so, is donald trump in congress a looming lovers quarrel? mark: i think it is very close. i think are some substantive issues. there is just a huge gap in what , andd trump pushed for what the traditional republican position is. there is a huge issue of whether or not to work with democrats or make accommodations to try and get a partisan support. -- get bipartisan support. is that eventually all right and mitch mcconnell will have to figure out how to accommodate themselves to donald trump. it is one step at a time. the current step towards tax reform and infrastructure and thatebt ceiling -- i think
will go relatively smoothly under the circumstances. we will see. john: i think that may be right on those issues where there is a lot of common ground. he said that mcconnell and ryan will see it as in the party's interest to give donald trump some wins. on the issue of medicare reform, we have spoken about this all year long. part of the reason that ryan and trump are not a match made in heaven is that they believe in fundamentally different things when it comes to domestic spending. medicare is the biggest. paul ryan has a long record of saying what he wants to do with medicare. donald trump want to do something completely different. the question is where do we go on that? mark: it comes to a head. it is so easy to say that we should repeal the affordable care act and try to figure out what to replace it with. you have to deal with medicare and medicaid. i think republicans in congress
would be reluctant to say that congressing to pass would be reluctant to say that we are going to pass this major piece of the deflation to get rid of the affordable care act -- piece of legislation to get rid of the affordable care act without dealing with them both. john: coming up, nancy pelosi holds onto her leadership post. what that means for the democratic party. coming up. ♪
in the moment -- in a moment who is a supporter. date free doubt at all about the fact that a third of the congress is against her? >> i think there is some frustration and surprised at the number of people that backed congressman tim ryan. i think it shows you that had someone else in willing to step , theyinst nancy pelosi might have actually begin -- beaten her. it shows legitimate problems for her. i think at the end of the day, it shows that nancy pelosi style of politics is what the democrats need in the house right now. they need some one who has that sort of "iron will." in the age of donald trump, houston cracks are going to in his to stamp -- stand way and make republicans make
difficult decisions on and like the debt ceiling. she has been in the trenches, and she knows how to do it. i think her allies feel that is what they need right now. on the flip side, it means they are not going to have any new faces. the average age of democratic leadership is 76 years old. it is under 50 years old on the republican side. that is an entire generation. i think that is part of the frustration you saw today. john: we spoke earlier about donald trump placeholder in dealing with his family business and potential conflicts of interest. my sense is that a lot of republican members of congress are very concerned about this right now. what is your sense of the temperature with republicans on the hill in related -- in relation to this issue? for now, they are saying that we should give donald trump half a minute to deal with this. in saying that, they are also saying that he needs to deal
with this. there has been some pressure. the difficulty day-to-day for people appear is to answer for every single one of the things that donald trump has or does. -- says or does. in this case of his conflicts of interest, the fact that he said that he will come out and make a statement has mollified somewhat for now. i think this general way of interacting will drive a lot of what we talk about for the next year or so. you areion, i think already seeing it play out in the cabinet picks. i had one republican say to me, us republicans really want to vote between general petraeus and rudy giuliani for secretary of state? that would put us in a very difficult position." so i think you are seeing a lot of difficulties rise up across the board. john: kasie, thank you.
we are now joined to democratic .ongressman eric swallow your woman won. reelection. won her still, it was against two thirds of the caucus. what you think this means for her going forward? >> our leader won. she won the trust of 68% of her colleagues. she said she came in a little bit higher than she expected. i think it is a good day for the kratz in unifying -- four going forward to unify around the change we have made. we want to craft a message that can relate to all americans going forward. congressman, i appreciate
the answer, but he did not really answer my question. -- you did not really answer my question. as the fact that she had still overwhelming support in her party. i think the people that voted against her will step up and help us in a all hands on deck effort to shape what is next. john: congressman, thank you for being on. can you think of any issues in which leader pelosi is more liberal than voting class -- working-class voters? >> they want an economy that is going to work for all of us. i think the work they did around wall street reform matters do working-class people. they just want a fair shot. right now, you are seeing donald trump putting out a plan to unravel dodd-frank. instead of draining the swamp, he is replacing it with recycled water. our message is going to connect
with voters. mark: are there any issues that you can name were you think she might be to the left of voters that helped donald trump get elected in those states? >> they are electing are presented as in their own community. this is not about one person representing every single part of the democratic party. i think she is going to rely on different people in our party to go across the country and carry that unifying message of an opportunity for all of us. so, i reject the idea that this is on one person's shoulders. she has given opportunities to people. "go talk to millennials about all the issues from people that have had the same issues." we created a group called "future form -- forum."
♪ john: we're going to have green party candidate jill stein with us. she has kicked up a political ruckus by calling for a recount. citing discrepancies in newspaper recounts where errors took place at polling places. she has raised money for this effort. dr. stein is joining us now from boston. paul ryan today said that your recount effort is a ridiculous, fundraising stunt. how do you respond? stein: what are you afraid
of? we have the right to vote. we have the right to assure that these voting machines that are used in wisconsin are not again used in california, because they are prone to error. quality voting systems in all of our states. the american people deserve to vote,onfidence in their especially coming out of this very divisive and better election. let's have some assurance that our votes are being counted securely and properly. john: there's not someone ever involved in recounts that thinks this recount will change the outcome. it is -- is this mainly in academic effort? i do not mean to belittle it in that sense, but are you trying
to restore faith in the system or find holes in the system? or is this an effort to actually overturn the outcome of the election? stein: it is not to overturn the results of the election. it is not to overturn one candidate for another. it is not about who won. it is about the process and assuring the american people that at a time of record cynicism and disappointment in our political system that we can be confident in our vote. it is not just an academic question. we have seen plenty of trouble with our voting machines when we had looked. looked. during the recount in ohio, 90,000 votes did not get counted in toledo. -- in the of toledo
communities of color, they felt like they were getting short changed. sure enough, they found that their votes were not getting counted as the machine was not properly calibrated. it was not capable of seeing that those votes were actually voted on. so these questions have been raised for long enough. there are additional red flags here. using voting equipment that was suspect in one way or another. other red flags like in michigan with her was a skyhigh number of blank votes. 80,000 blank votes. that is much higher than any prior election. there were warning signs here. the, the outcome was opposite of what had been anticipated. so, all of those factors taken together is why those three states were identified as areas in which we are most likely to find problems. what we really want here is a
voting system where we do not have to show that there was some major problem in order to have told in transparency and built inility -- have transparency and accountability in the system. for one thing, we should not be using faulty voting machines that have been proven to be error prone. we should not be using those machines in the first place. secondly, we should have built in audits. john: dr. stein, i appreciate you coming on and reviving confidence in the system. i have watched a time of your interviews over the past couple of days. i am completely baffled by this. how will recounts in the state restore people's confidence in the system? dr. stein: there are many
concerns about the system. however, this is a first that. mark: just tell me how over the next few weeks this plays out. coming the result that you would like to see that restores peopl e's fake incrementally in the system. dr. stein: i would like to see the system working flawlessly. based on prior performance of the machines, i do not expect that. do notother hand, i expect enough that we are going to overturn the results of the election. i think the issue has been raised. all i did was put out a test release and open up a webpage or people -- out a press release and created a webpage for people to donate. people reached out from all over the country. it is no secret that there is widespread cynicism and disappointment in our system. i think that we are seeing here is a groundswell to say that we the people can do better. mark: dr. stein, i am sorry.
mark: it was not long ago that donald trump released a campaign --evision ad saying that when it came time to pick nominees, donald trump has turned to two east coast dedicated billionaire buddies, one of whom cut his teeth at goldman sachs prove the great, white world -- wide world is of theto make sense choices. loyalists andp friends of his. their resumes are causing cognitive dissidents up against the populist economic message
donald trump preached on the trail. --nuchen, --n m mnuchen . he is a yale man, goldman sachs partner, founded his own hedge fund and had a mortgage lender that foreclosed on tens of thousands of homeowners while his institution was receiving government support. he has also financed big hollywood blockbusters including "avatar" and a dozen of other movies. and then there is wilbur ross, a yell and harvard man. he did help rish structure one of trump's struggling casinos when donald trump was criticized for leaving average worker's and dry and his were to rehabilitate companies to overseas investors and if it from the free trade policy.
trump promised to rein in. mnuchiney, munchkin or went on to talk about what they want to accomplish. >> our number one priority is tax reform. this would be the largest tax change since reagan. by cutting corporate taxes we create huge economic growth and have huge income. >> everybody talks about tariffs as the first thing, they are the last thing. they are part of the negotiation. the real trick is going to be increase american exports. get rid of some of the tariff and nontariff barriers to american exports. john: so, mark, look at these picks. mr. ross and mr. munchkin a.k.a. mnuchin is it fair to ask the question what happened to populist donald trump? mark: very fair.
he could have gone a different way and made bernie sanders treasury secretary. this is symbolically almost ridiculous. what will matter is the policies and these two dyes are not preachers -- -- these two guys are not creatures of washington. if they formulate middle class working class jobs, nobody will care what is on their resume. onusts more honest on -- trump to recognize biography does not indicate destiny. he will have to get some populist thinking on the team. >> a story published -- fundraiser, steve payoff for hisig deal and was nominated treasury secretary priti joining us is one of the writers of the business week profile, max
abelson. what kind of guy is mnuchin ? is he funny or stuffy? if you were going to write a novel about someone who had the perfect elite career where everything went his way, it would be mnuchin. at yale he was the publisher of the news, his dad was a partner he was so beloved that everyone called him coach. he made partner at head -- and then he became a hollywood producer and he bought a bank with a bunch of billionaires and sold that and now he is going to be apparently the next secretary of the treasury. mark: is he ideological in anyway? max: i think the question about what stephen mnuchin believes in is something nobody knows. what is so astounding is that he
was sort of at the top of goldman sachs and now he will be joining steve bannon, former goldman sachs colleague, the current leader was at trump tower yesterday in anthony apparently will have a trump job as well. , howlinglary clinton around with goldman sachs, -- paoli -- paling -- you list theif reasons why hillary clinton lost, people assume she was ideologically and with wall street, people were six -- suspicious that she would bring all of her wall street friends. hillary clinton does have wall street friends. john: donald trump has a lot of wall street friends, too. max: this morning i made calls than i said to hedge fund
managers and bank executives, do you think trump supporters who loved it when he attacked wall street, do you think they will be disappointed? do you think they will be angry? their attitude was like please. john: let's talk about what i mentioned early in the show, a mortgage lender in california that has been accused of closing in a pernicious way on homeowners, accused of redlining. max: steve midocean -- steve mnuchin told us he was sitting in his office and got -- got the story confirmed by someone in the room within at the time, summer of 2008 watching tv in the news and he sees people lined up to pull their money out of the rank and he says to himself "i have seen this game before, we are going to make money on this and by this bank. indymac. that bank, i think it was one of the biggest bank failures in the history of the united states up
to that point. steve mnuchin bought it with george soros and he rebounded -- rebranded it. calledt is what it is now and i think it was profitable within a few months. the fdic guaranteed that after a certain point they were not going to have to eat up any of the losses, so they got a great deal on it. to be fair to stephen magician, in the same way you have to admire the fact that he made this that on donald trump, you also have to admire the bet he made on his bank. he bought this bank at the bottom. things were terrible. on the other hand, he sold it to cit for more than $3 billion and there are nonprofits that say that one west stands out for awful foreclosure practices. john: coming up, former governor talksmont, howard dean
♪ first guest, the former chair of the national committee. he is trying to go back and claim a job again, the former governor of vermont, the howard dean. dr. dean, thank you for joining us. people get asked all the time why did hillary clinton lose? why have democrats lost so many seats in the house, senate, and state legislatures over the past eight years? dr. dean: because they have not built a grassroots organization. i do not think this is a barack obama problem. every time we have a democratic president the dnc becomes the way of the reelect until the actual campaign starts.
what happens is the committee gets hollowed out, the 50 states strategy pretty much died without a lot of attention paid to the local parties and there has not been a lot of attention paid to what the republicans have done very well, which is school board members, city counselors, mayors, those of the things that drive the party. we have a branch of the democratic -- the democratic legislative counsel, but we do not fund it, so we have some strong reorganization that has to be done here. mark: that is a pretty long list . you like straight talk and accountability, name two people who share part of the blame for the dynamics you just described. dr. dean: not going there. i appreciate the ask, though. what is the point? mark: how do you have accountability? if you are not willing to say
this person did not do it right, how is there any accountability? if it were republicans who made mistakes, you would say this republican rest this up and why won't you name names within your own party? dr. dean: because i am in the business of trying to keep the party together. one of the things i try to avoid is the fight for -- for example between the bernie sanders supporters and a hillary clinton supporters over this chairmanship and a nomination. looking backwards and blaming people, everyone has people they will blame. what is the point of me getting in that game? a smart guy wrote an interesting story in "the new york times" and talked about areas where the democratic party -- if theyivably wanted to and part -- thought it was part of the solution, moved to the central particularly on cultural issues may be problematic for the party.
do you think that is part of what the party needs to do to try to make inroads with that constituency that trump did well with that used to be a core part of the democratic coalition? dr. dean: no. first of all, think we have to start -- stop talking about white, working-class people and talk about working-class people. if you do not like identity politics, we should not be talking about white working-class people. all working-class people face the same problems, we need to be a broad party that appeals to people on economic ground, which means all working-class people who have gotten screwed and they will get screwed again by trump. thousands forest a few hundred jobs, that is a he hasr deal after gotten president, but no governor in the country knows --
every governor knows that is not sustainable. i think we just have to organize better, reach out and on economic grounds show the working-class that we are the party of people who are going to help people like that who are struggling. mark: you did an interview the other day with canadian ctv news where you are for two steve bannon as a nazi. i am curious if you genuinely believe that? a word i that is not use without thinking about it carefully. let's look at breitbart news. they are anti-somatic and it have been very blunt about that. they are certainly misogynistic, very blunt about that. supremacists. i think that is a fair word to describe that attitude. understand those are critical comments and a lot of them are fair when it comes to
breitbart news, but you are saying steve bannon is a nazi. i want to make sure that is what you actually believe. dr. dean: steve bannon ran breitbart news, he was the one who published it, it was his baby after breitbart passed away . he is responsible for the compact -- content of breitbart and i think he owes america an apology and an explanation. >> i want to move to a different the phraseyou used before reportedly in an interview, are you standing by it or just saying he is responsible for breitbart? nazi a knotty -- is he a in your view? who fits he is someone what i just said and i will not back down for any of it. coming months, a lot of democrats would like to see new, young people emerge as faces of the party, leaders. who are two or three young
democrats you think have the knowledge and the vision to become part of the mosaic face of the democratic party? dr. dean: i think there are a ton, so far three are running for the dnc, not including me because i am old. i like the idea of new blood. so far, the only candidate that fits the bill is jamie harrison. i do not think we can have a 2 chair dnc. we tried that for eight years. i certainly do not think we can have a sitting congressperson as the chair. i want to see younger people run the dnc. i am very happy to help you it has got to be done right. if we do not focus on mechanics and we run around giving's ages without doing groundwork -- giving speeches without doing groundwork, we will not be any better off than we are now. we should raise money from anybody that we can raise money
from. >> there is a story on cnn today about keith talking about something in the public record --record, his long defense .efending the nation of islam this is coming up in the context of him running for the job that you are running for. do you think this history that allison has --ellison has? dr. dean: i like keith a lot and i campaigned with him because i thought it was important that he is in congress representing american muslims. i think people evolve and the remarks he made in 2010 may not be appropriate today. keithot think -- i think
q-tip showed up for an extended conversation. we talked about his appearance on "saturday night live" where dave chapelle said he was willing to give trump a chance. i asked tip is that if he was willing to give trump a chance, too. >> i guess we have no choice because he is the president. is a lot of it meantened this allusion with him because -- heightened disillusionment because he has banned a heightened figure for years. i think the platform he ran on is very scary. it is extremely polarizing. it is divisive and not necessarily inclusive. it is dangerous and one that brings about an almost absolute fear. i would not want to give someone like that a chance, per se, but the actuality is -- of the
situation is that he is the president and people voted for him -- i did not vote for him. he is the incumbent and he is my president now. >> you guys were capped in over the course of the -- were tapped in to the fear that a lot of non-white americans feel right it, you were tapped into early and there is expression of it in the course of the record. are you afraid right now of the incoming administration that they are tolerant of racism and that things will get ugly and bad for communities of color? what you want to do about it? --q-tip: therel will be a lot of voters who voted for trump that if he does not come through on what he ran on, that group will be very there is already a
group here that is the antithesis of everything he ran for who are scared. you have fear and anger. i think that is a cocktail that if it is not settled and help with in transparent -- settled and dealt with in transparency and truth, it will continue to stoke the flame and it will wind up blowing up. i think it will be a promise. -- do ior the people feel for the people? no, i think that people are so at the edge of their emotions that any kind of reservations gone.ave are kind of long incumbent and his
team has a lot on their hands and this is going to be interesting to watch. ♪ >> we are back with part 2 of our conversation with q-tip from "a tribe called quest." i want to ask you about kanye because he is on the record. you thought maybe he was going to be more on the record my reporting tells me. he now canceled his tour and was hospitalized for exhaustion and went on to say that he would have voted for trump. he is a friend of yours? yeah, he is my brother. it is difficult because i love him. that is my brother and i reached out to him and i am hoping that we just get to talk.
i just probably would leave it there because i really care about that dude, but his remarks were something that requires he and i having a serious discussion. john: i want to go back to fife. this record -- obviously you had a reunion. you came together after a lot of years of discord and now it is incredibly successful. and it is made in his memory and his honor in some respects. is this enough in some way to have paid tribute to him or is there something else you are looking for? does this record have to do something else to get there or are you satisfied you played -- paid tribute to your brother? satisfied. totally in a personal sense come i think i will always crusade for him
just because that is my boy and that is what you are supposed to do. do you know what i mean? i am just so ecstatic about everything and the way that it unfolded. i remember looking at that picture. i remember that night, i think and he was 18 and jarobi was 17 and i just had a birthday because the album had just come out. just thinking thoughts like that come in a friend sense and a brother sense. i am definitely happy, it is like a coed it justice. justice. john: does it saddened you that
he is not here? q-tip: definitely, the selfish part of me. i do not know. john: make some news for me here. q-tip: it is hard to tackle that, that is my guy and he wouldn't be there. how do we approach it? john: be sure to check out bloombergpolitics.com and tune into the radio at 99.1 fm. also, thank you to tyler kendall, she is the best for producing this every week. ♪
♪ emily: i'm emily chang in this is "the best of bloomberg technology," where we bring you top interviews from the week in tech. coming up, our exclusive interview with one of the richest men in the world, carlos slim. we will catch up with him in mexico city. plus, bloomberg's weeklong focus on energy, we catch up with the sun run ceo, aaron levie, on what a trump presidency means for the solar industry. and we get our hands on snap spectacles.