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tv   Bloomberg Markets Balance of Power  Bloomberg  February 25, 2019 12:00pm-1:00pm EST

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on the brief today, sarah mcgregor on u.s. china trade negotiations going into extra innings. tina davis on oil intervention. and teresa on prime minister may's pursuit of a brexit deal. we will start with sarah. tell us what is going on right now, they have postponed the deadline on friday. president, the postponed the deadline for a deal to be made in order to hold off on tariffs on chinese goods. we do not know how long the extension will last, he said as long as there is progress they will keep talking and he plans to meet president xi jinping at some point to finalize the agreement. donald trump told us that he thinks there has been substantial progress in the talks on the toughest issues, but we have no details on what that looks like and it has raised fears he might fall short
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on a promise for really tough changes to china's economy. david: we will come back and talk about the progress. in the meantime, we will talk about president trump decided to give advice to opec. >> it has been a few months since he tweeted about oil prices. the last time was in december, right before the meeting win they decided to disregard his advice and cut production for 2019. what was interesting about the tweets is they did affect prices. the last time it did not have much of an effect, but this time we saw the prices fall 2.5%. and what we have heard is the market was overbought and looking for an excuse to go down. david: that is what fascinates me, this came out while i was on the year, and i saw -- on the air, and i said, what is going on? is it somebody the president saying i want to talk it down? 23% fory are of about
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the year and we had our best january ever for the global and u.s. benchmark prices, so as i said i think it is a little bit of concern that we are going to high too fast, so this gave an excuse for anybody looking to get out of it to go ahead and sell good david: and global growth -- sell. david: and global growth because of this attitude, we will see. now, bring the abyss been on brexit, teresa. i saw theresa may saying we will steady on, but at the same time they have delayed the vote. teresa: that has been her message and nobody is buying it. in parliament there is a key vote on wednesday, where the mps will decide whether they will try to force her to delay brexit to extend article 50, so britain does not crash out without a deal. at the same time, the eu is telling her, if you cannot get approval from parliament, if
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there is no deal that you can pass, why not go for a long extension, like 21 months. that will strike fear into the heart of hardline brexiteers, who want to britain out as quickly as possible. david: it seems like her own people, her own ministers, are deserting her. it does not feel like her majority is getting stronger. hasesa: she is really, she told all sides for so long that she would deliver something for them, that even within her own government there is a lack of trust. and that is a kind of theme across the whole brexit negotiations right now. the labour party does not trust the conservatives or the eu, so that has become impossible for her to convince anyone she has this under control. her last-ditch attempt is sending her attorney general to brussels to try to agree on some kind of assurance that would be legally binding that she can
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bring back and say, this is the amendment, this is the concession you are looking for, now my deal should be good enough, so please pass it. a lot lies in the hands of her attorney general. david: when in doubt, said in the lawyers. thanks so much. now back to sarah mcgregor. we will play a little bit of what president trump said last night. take a listen. president trump: it looks like they will be coming back quickly again and we will have another summit. we will have a signing summit, which is even better, so hopefully we can get that completed. we are getting very close. i think that was this morning -- david: i think that was this morning. what would progress look like? we do not know what the progress is looking like, but what could it look like? they are really putting pen to paper to try to put the
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commitments that china has been making down on -- to have some sort of draft agreement and put it together for the presidents to sign. china has agreed to buy more american products, that would help with a trade deficit, but even if it agrees to high demands about intellectual property theft, forced technology transfers, the big piece of the puzzle is how will it be enforced. the administration wants a chinaism to ensure that will be punished if it does not live up to promises. and i think that that right now would be a tough one to agree to, because china will want to ensure it still has wiggle room to manage their economy. david: what is the process? two weeks ago we had discussions in beijing with top level delegations, last week in washington, are further discussions planned, because there must be something between here and a summit at mar-a-lago? sarah: they should not be lost on anyone that of course the
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latest round of talks that ended on sunday with a promise of progress happened the same week the president is going to speak with korea's leader in vietnam. a needs to reach conclusion there. we expect things to be on the back burner while he is out of washington, and will resume in full force when he has back. another few weeks, even if he meets president xi at the end of march, that is still a short amount of time to reach a deal on these hard issues. we are just waiting to hear when the next round will officially take place. david: thank you. no a check in the marketsw -- now a check of the markets. emma: u.s. equities right across the board. take a look at the three major indexes. the dow jones up 7/10 of 1%. as a divine hundred -- the s&p
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500 up 6/10 of 1%. all close to their four-month highs. off of though somewhat now. the s&p 500 led by financials and technology. and it seems like investors and traders are liking the news that we are getting. you were discussing earlier about president trump postponing the date which it might boost tariffs on china, that is seen as progress, but no guarantee. i want to take a closer look at the dow jones. we should have a chart showing the dow jones since its record high, that was october 3. now at its highest since october 9, a couple percentage points away from the record high for the dow. still down just over 2% since then, but we only need a little rally to take us back to that record high. the dow has not had a down week since christmas. if the week carries on this way, we could be looking at a 10 week
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rally. and let's talk about tech bouncing on the trade news. one of the best-performing sectors in the s&p 500. chip having a big impact, philadelphia semiconductor index rising 1.6%, closer to 2% earlier in the session. every stock in the index in the green. amd, risingtal, between 2%-3%, almost 4% for western digital. this benchmark has risen 30% since christmas, this despite the worst quarter for sales in a decade. and finally, we want to take a look back at the story we ended the week on, the turmoil at kraft heinz. switching the board, you can see it is down 2% today, as are other food product companies like campbell soup, general mills, not getting a bounce. david: you are doing so well. ending on the red. coming up, the robert mueller report.
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how much of it will we see, and what will congress insist on seeing? we turn to our political roundtable, next. this is bloomberg. ♪
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david: this is "balance of power." i'm david westin. we turn onto mark crumpton for first word news. mark: in vietnam, officials are scrambling to finish preparations for a summit between kim jong-un and president trump. officials say they had about 10 days to prepare for the summit, much less than the two months they said singapore was given for the first meeting last year. still, they are promising to provide airtight security for the two leaders. in nigeria, supporters of the
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president and his main challenger claimed early successes in the general election. the president won the first two of 38 states, for which results were being announced. the vote was marred by delays and a sporadic violence. four years ago, the first opposition candidate was ever elected to the presidency. and the united nations secretary-general says human rights are losing ground around the world. speaking in geneva, he denounced what he called "a groundswell of xenophobia, racism and intolerance." expressed alarm at increased attacks against journalists and activists. more than 600,000 homes and businesses from michigan to virginia are in the dark today, after fears windstorms brought 75 mile per hour wind gusts. the powerful winds toppled power lines and grounded hundreds of flights.
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global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. david? david: thank you, mark. reports last week said that special counsel robert mueller's report would go to attorney general william barr this week. today, there are indications that it could come later. that has not stopped a healthy to the be done with a report once it is done, with the chairman of the house intelligence committee saying he will do everything in his power to make sure the report sees the light of day. >> we will obviously subpoena the report, we will bring robert mueller in to testify, and we will take it to court if necessary, and i think the department understands that they will have to make this public. david: ok, we welcome our political roundtable with a jen kerns, a former spokesperson for the republican party, and david goodfriend, president of the goodfriend group. and he is coming to us from
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washington. jan, this is one point that the congressman made, given what happened with the investigation of hillary clinton, a eventuallynd all of that stuff -- and eventually all that stuff went to capitol hill, isn't it fair that everything robert mueller has should be given to capitol hill? >> i think so. even though i am a republican, you would think i would want the attorney general to be in charge of it, i think the american people have been dragged through the mud. the american people deserve to see what is in the report. i think what is in the report is not going to be anywhere as damaging as the democrats have acclaimed it would be for the last two years. the senate intelligence committee has interviewed more than 200 witnesses, they have looked at 2 million pages of documents, that is unprecedented as far as i know in american history, and they have found no evidence of russian collusion. that is according to senate
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intelligence chair richard burr, a man with a very good reputation, who says there is no evidence of russian collusion. so doing the american people deserve to see it, i do. david: is it your worst nightmare, if the republicans say fine, take a look, because otherwise if they fight it could be years of them speculate in what is in there? jen for want to commend saying she believes it should be made public, that would restore american faith in the process, but i do think it is way too narrow to look at this as whether or not collusion has been determined. you look at the fact that roughly 30 people, including a white house chief of staff, including the former nsc director have been indicted. that is staggering. if activity would stop now, you would already have a
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breathtaking trail of guilt. paul manafort has been found to be a flight threat. these things are staggering. what the report will do, and the materials collected in the process of the investigation, what they will do is shed light on the reasoning for why these indictments have happened. there have been indictments and convictions, so what about that? i think the report and the analysis and documents that went into the interviews will shed light on that. it is narrowed to say that this is just about whether or not the theory of collusion has been proven. jen: the answer to his question, theythe indictments show, show that there was a deep state effort at the highest levels from andrew mccabe to rod rosenstein, talking about the 20 for the amendment, there was an effort to overthrow an elected president of the united states. and if you look at folks like
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paul manafort, he is in trouble for things he did a decade before president trump even decided to run for office, so not much evidence there that there was any ties to russian collusion, other than facebook ads and attempts from the russian government to metal. -- mettle. david: general flynn was indicted for things that were -- it is illegal or improper to discuss the question? jen: look at what happened in the law enforcement community, look at the piece of research that was paid for by the hillary clinton campaign and the dnc that made it into the bloodstream of the fbi, and the doj, that was improper and it should have been disclosed. that was the basis for the pfizer warrants, now under a great deal of question. there were a number of things
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that happened early on that shows that they could not believe the people of the u.s. chose to elect somebody like president trump, and they did everything in their power to rebut that. david: there is an investigation going into that with the fbi and misconduct associated with it. but talk about something we do e has that michael cohen, h now pleaded guilty to lying to congress and is about to testify again, and we will not know what he says because it is behind closed doors. david g.: the purview of congress to decide how to conduct an investigation, if they believe they get better answers and more truth in a closed door session, then i think that is a wise choice. i want to go back to something said earlier, we are a nation of laws and if the law has been broken or law enforcement suspects a law might be broken,
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it is appropriate for law-enforcement to conduct an investigation. when i worked for the clinton white house, i do not remember republicans complaining about investigating president clinton. what is most important going into this release, is that there is transparency, transparency for congress and the american people. let's see what was discovered along the way. we are talking about a legal element, the right of congress and congressional committees to subpoena documents and have witnesses come forward. that is a legal issue. but there is also a political issue, we are in the midst of an election cycle for 2020, and when you have congressional committees painstakingly going through the details of an investigation, that has led to convictions at a high level, that will be an uncomfortable position for the white house in any event. david: it has definitely led to convictions, it is stunning how many indictments there have been, but none have implicated the president directly, in
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fairness, and that was the original reason we have a special counsel, to look into the president and his cabinet. something like robert mueller is investigating organized crime, whether they do is get somebody like cohen, who is appearing today before the house committee, to turn state's witness, that is what these folks have done. it is no wonder why the administration, or the president, are trained to -- trying to badmouth the investigation, because they feel like this is closing in on the president. david: is your position other never should have been an investigation, or that it was mishandled? jen: if you look at the impetus for the investigation, it was based on this document -- the dossier. david: in part it was, but that was not the only basis as i understand the facts. jen: that was the basis for the warrant and the eavesdropping on
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the trump tower campaign. when it happened during the richard nixon administration and the dnc was broken into, it toppled a president, yet the intelligence community was doing that. itthe case of michael cohen, is one of those perry mason thriller moments, is he lying now or was he then? there are key figures in the investigation that have major credibility problems, one is michael cohen, who admitted that he lied to congress. and special counsel came out in a very rare turn and actually rebutted a report that said that michael cohen claimed that president trump asked him to lie to congress, he said that was not true. andrew mccabe, his own superiors, his own colleagues found him guilty of lying under oath. and i will leave that for his colleagues to address. david: i think we have to go back. many thanks to both of you.
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hour we will be speaking with the former fbi acting director andrew mccabe about his new book. still ahead, ge makes a down payment on a promise, and the stock soars on the news. our company in the crosshairs today, that is next. this is bloomberg. ♪
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david: you are watching "balance of power" on bloomberg television. ge, shares rise in the most in a decade before paring some of most in a decade before paring some of those gains. emma has more. investors like the announcement, $21.4 billion sale. emma: it is a big step forward in terms of larry coker -- in terms of delivering $121 billion worth of debt, selling its fast growing part of the business for $21.4 billion.
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and a little bit of intrigue in this, but the deal is expected to close by the end of the fourth quarter. take a look at the bloomberg, one thing that bond investors might like is it will help perhaps with a $22 billion bond payment that is coming due next year. and you can see that here. this is for 2019, and then you have 2020 there. i will switch it up here, because another nice thing that bond investors would like is that the cost to insure against default has fallen to its lowest in four months. and we really see that the new ceo is focusing on the balance sheet. david: he promised he would get leveraging down, and this is certainly a start in that direction. at the same time, this is a good day, he needs more. emma: that is right. look at ge over the past two years, investors lost $200
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billion and a lot has gone wrong over the last couple years, with a number of ceos. and they have cut dividends. but he is focusing on these asset sales. and he is really trying to cut costs and make changes. take a look on last time, this is heading for its first three-month rally since 2015. and investors are liking today. david: and the question is, what comes next? emma: we will see how it goes. david: coming up, the president making his way to hanoi for his second summit with kim jong-un, predicting great things. what are some real expectations? we will talk about it. this is bloomberg. ♪
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david: this is "balance of power" on bloomberg television. i'm david westin. now first word news with mark crumpton third mark: president trump -- with mark crumpton. mark: the president says he will
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have a signing agreement with the xi jinping and says he is very close to getting an agreement. he says there also is a chance it will not happen at all. delayed thet has friday deadline to increase tariffs on $200 billion worth of chinese goods. european council president donald tusk says the chances of a brexit deal being sealed are fading. speaking at a summit today, he said that he is urging the british prime minister theresa may to request that negotiations be prolonged. >> i believe that in this situation, an extension would be a good solution, but prime minister may still believes that she is able to avoid this scenario. mark: may says the delay will not solve anything and that "it is within our grasp to leave the eu on march 29." thousands more civilians fleeing
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syria, and evacuating from the last pokitdok -- pocket of territory held by the atomic state. an estimated 300 islamic state militants are in a small village near the iraqi border, penned in by the freddie's river and u.s. backed syrian democratic forces. near houston, search crews are looking for the black boxes from the boeing 767 cargo plane that crashed into a bay. three people on board were killed. the plane was operated by atlas air to haul packages for amazon. it was moments away from landing when it nosedived into the water. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. david? mark. thank you, president trump is on his way to hanoi for a summit with north
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korean leader kim jong-un, but before he left he gave a sense of what he is hoping will happen. president trump: we have a special feeling and i think it will lead to something good, maybe not, ultimately it will, but maybe not. i am not pushing for speed, but we are not removing sanctions. david: we welcome an expert in international affairs -- jane harman, the director, president, and ceo of the wilson center. and was a in congress ranking member of the house homeland security committee's intelligence subcommittee. nine terms in congress, 17 years. david: wow, i beg your pardon. atrt with north korea, start least with north korea. what is realistic to expect out of this summit? jane: um, well, no more missile testing, at lease for now. some aspirations for denuclearization, which is a good thing, and maybe
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aspirations about some u.s. concessions we might make having to do with the training exercises, or something like that, hopefully not the reduction of troops in south korea. but things of that kind. i doubt there will be in a thing to the iran agreement. which obama was able to strike, which donald trump said was an adequate, but that was a containment regime on the ground making sure iran lived up to it. david: this is the second summit between president trump and kim jong-un. out of the first, i think there was general language, but it felt more like atmospherics than specifics. can we expect specifics here? what do we need to move forward? jane: most people think that was a photo op. but the good news is donald trump is paying attention. and two, there is no testing,
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active testing right now, but all of our intelligence folks think that north korea still is developing nuclear -- its nuclear program, which is way more developed than iran's was. so there needs to be more specifics. some speculate maybe north korea will -- their most visible facility, but that is not denuclearization. and china is working with north korea on this. china wants containment, it does not want denuclearization and north korea as part of south korea. and we are dealing with china on a trade agreement, so there is linkage. david: we have been watching air force one taking off in washington as he heads to hanoi. perhaps president obama did not pay enough attention, but president trump has been assertive on this and has funny to watch
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people who have failed to lay me how to negotiate, but thanks anyway." does he have a point? jane: to be fair, obama was paying more attention to iran and he struck a deal. it was not a perfect deal, but i think the better move forward was to make it a better deal, and i think he would've had support from europe, where now he has no support when vice president mike pence is ascii europe to withdraw support for the deal. that denies us access to china and russia, who are also participants were parties to the iran deal. david: china for many years, we believed it was the pathway to getting to north korea, that they could assert pressure that indirectly. what is the role they are playing and how does our dispute over trade factor into that, is it helping or hurting? jane: the scholars at the wilson center think that china and north korea are not especially close, if you study the history,
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but they are neighbors and they share a long border, and north korean defectors have been going into china. by the way, china has been trading with north korea while saying it is inviting -- abiding by sections. they are working to strike a deal good for china. that factors into trade negotiations that are ongoing, that is a good thing. the markets will stay strong or go up, good for donald trump if he strikes a deal. what needs to be in the deal? there needs to be language about intellectual property. our companies cannot be required to give up their ip to do business with china. and also, it is unreasonable to think that china can continue this, to steal from us the intellectual property secrets, so if that changes that could be the basis for a deal that obama did not strike. that is "i win" for donald trump
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and will keep the markets high. david: whether it is north korea or china trade, many people think it will take time. talk about this, does it feel lk about one thing that cannot wait as long, venezuela. they have been trying to get food to the poor people of venezuela. mike pence is on his way right now. how is this going to be resolved, what is the right path forward for the united states? jane: well, most people think and i would agree that the nicolas maduro government has been dreadful for the country, that does not mean there should be a u.s. invasion or ground invasion tomorrow. i do not think our allies, the lima group, the south american nations except for mexico, support a new leader, or the eu would contribute to a ground force. so we better think long and hard before we threaten that. it would be great if somehow,
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sustainedgic and diplomacy, we strike a deal, which would open up the borders first to feed the starving folks. and then work out a political transition. that would be ideal. borders have been closed in yemen, from time to time in syria, and the borders have been weaponize against humanitarian aid. i wish the u.s. would speak out on those things. david: give us hope, because it was not long ago that everybody thought assad was on his way out, that he would be gone, it does not look that way now. how can we make sure that venezuela does not turn into a version of syria, going on and on? jane: syria has tribalism in a way that venezuela doesn't, it doesn't have the kurds, but it does have the overlay of geopolitics. russia and china do not want
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nicolas maduro government to fall. it has that overlay. it also seems to me that if we can get the whole neighborhood with us, it is a simpler problem to solve and in the way to solve it is transitioning to a more pluralistic leadership. david: is the administration handling this the right way? jane: mike pompeo and the vice president are focused on and mike pence is going down there now. mike pompeo is paying attention. and so is the neighborhood. there is a huge refugee problem and a humanitarian refugee problem. so basically, yes. does that mean it will get solved? not necessarily. and it is not helpful to have mexico and others in latin america offended by the ways we are treating migrants, who are coming up to the u.s. border. david: you have a very special
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perch at the wilson center, you get to look at the world. do some work for us, as you look around, what is the one thing that bothers you the most? jane: you know, it is a troubled world. it bothers me that governments are losing a lot of their andalistic and humanitarian hopeful aspects around the world, not just one government. that worries me. it worries me the u.s. is retreating. our leadership matters. not our military leadership, i mean our shining city on the hill, as ronald reagan called it, that leadership, setting an example for the world. and helping to build alliances, not destroy them, of like-minded folks who. quote further people when that goes, i think the
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world will be a dreary place, and i do not want to that for my grandchildren. david: thank you so much for being with us. jane harman, the director, president, and ceo of the wilson center. he served over 20 years in the fbi, rising to be acting director before the president abruptly fired him. andrew mccabe has written the story of his career and what led to tits end. that is coming up next. this is bloomberg. ♪
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david: this is "balance of power" on bloomberg television. i'm david westin. andrew mccabe started out in new york's filled office investigating organized crime and went on to work
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counterterrorism and rose to become the deputy director in washington. then his career took a turn, when president trump fired his boss jim comey and he was dressed into the spotlight of -- and he was thrust into the spotlight of politics. his new book is "the threat: how the fbi protects america in the age of terror and trump." we welcome him to bloomberg. we appreciate your time. tale, iell a harrowing will describe it that way, about what happened with the fbi and with president trump and jim comey, also robert mueller as the special prosecutor. one question i have is, whether one agrees with president trump on the merits or agrees with his way of approaching it, how does it, how does a president have some control over his fbi as a law enforcement agency, if he believes it is going off the rails? what can he do? mr. mccabe: it is a great question and not one we have talked about much. the president's, the place the
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president plugs into the fbi is through the department of justice. there is a policy that is very designed to is designed prohibit day-to-day contact between the borough -- bureau and the white house and it directs all communications from the white house, through the white house counsel's office to the attorney general's office at doj. so there is a pathway pathway established to make sure that those communicationsa re done -- are done in an appropriate way. heid: if president trump, if concluded that really the fbi was off the rails, forget about the purple prose, but maybe the fbi spending time on something not worth pursuing, would it have been appropriate for him to to say, doenstein not spend the time and money, would that have been
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appropriate? mr. mccabe: he can communicate anything he wants to the department of justice. and as the person responsible for the conduct of the administration, it is not inappropriate for him to have his thoughts on the work we are doing, the important thing is those communications take place in the way i described. i would argue, from my own personal perspective, that even though the president has the absolute privilege and right to fire the director of the fbi at any time, if the president is doing that in an effort to obstruct justice, in an effort to stop the fbi's work into looking into the possibility of russian meddling in the 2016 campaign, that would be a very educationd concerning -- execution of presidential authority, and one we should ask questions about. david: one question being posed in the robert mueller investigation, but we do not know many details about it. in deciding at the fbi to
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investigate the president, should there be a higher standard? you expressed in the book me go through different investigations and go through specifically according to the regulations what happens with each one, but for the president, and something considered treason, or for really serious crimes, should there be a higher standard than for a bank robber, for example? mr. mccabe: i would argue that the -- you should look at that from opposite perspective. today, the fbi is authorized and directed to look at the facts may have in their hands at any given time, and if the facts reach a threshold, in the case of an investigation, it is the basis that a federal crime has been committed, then the fbi is obligated to investigate. what you have, or what people have suggested with separate
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standards or separate thresholds for the president would actually put the borough -- bureau in a tough position of judging the issues differently from people to people. i believe that the investigators should apply the same consistent lawful standard to everyone, if the place for the sort of judgment and reconsideration that you are referring to, i would argue should be in the department of justice. in this case, that is exactly why i discussed the steps with rod rosenstein, and rod had a no objection to the steps we were taking. david: i think you would agree, many people would say there has been damage done to the fbi, perhaps the justice department as well, for whatever reason, you can blame anyone you want, but there is some sort of shadow cast over the fbi. what is one way to eliminate that? and let me raise the discussion of what is found.
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adam schiff was talking yesterday and this is what he said about that. >> we will subpoena the report, we will bring bob mueller in to testify, we will take it to court if necessary, and i think the department understands that they will have to make a public. said, some light is the best disinfectant, woul you put itd all -- would you put it all on the record? mr. mccabe: i would. i do believe the fbi has been damaged. i think it has been damaged by these unrelenting attacks, the creation of false narratives about corruption and things that do not exist. and so i believe the way to counteract that is to talk about what actually happened, what information did we have, how did we make the decisions we made, on what basis did we make the decisions -- those are things i
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tried to address in the book. as for robert mueller's report, i do believe that he should report and will report the full and complete conclusions he has drawn throughout the course of the investigation to the attorney general. i would like to see that report turned over in its broadest and most robust sense to the hill, so elected representatives can consider it for their oversight purposes. and finally to be shared with the american public, in the broadest way they can. we understand that there are things that could limit the amount of information shared with the public, there are issues classified, issues that are sensitive, sources and methods and things of that nature, but we have addressed things like this before, with the assessment of whether or not the russians actually meddled with the election, we took a classified document and we were able to boil it down to an unclassified product. so i think that is the path they
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should take. david: do you trust william barr? you must have worked with him before, do you trust him and his judgment in how to handle this? mr. mccabe: i do not know the attorney general, i am very familiar with his work and his contributions to the department of justice and i give him the benefit of the doubt. i have no reason to believe the attorney general will not approach his very important decisions with honesty and he will work through those issues in the best way he can. david: i really appreciate your time today. andrew mccabe, the former acting fbi director and author of "the threat: how the fbi protects america in the age of terror and trump." good luck with the book. from new york, this is bloomberg. ♪
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david: this is "balance of
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power." i'm david westin. the oscars are no stranger to politics. elected leaders have been known to trade pennsylvania avenue for hollywood boulevard, and one of our best known presidents spent his early career as a screen actor. last night, john lewis made an appearance, garnering a standing ovation before introducing "the green book," which would go on to win best picture. [applause] david: the acceptance speeches have long been a platform for stars to take political stand on equal pay t the iraq waro. last night was no exception, the only difference was a president who had once been a red carpet staple himself was now watching it on tv. after five nominations, spike lee away with his first academy award and he marked the occasion with choice words about the 2020 election. spike lee: let's all be on the right side of history. make the moral choice between
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love versus hate. let's do the right thing. you know i had to get that in there. [applause] speech maye lee's not have mentioned president trump by name, but the president took it personally, tweeting "it would be nice if he could read his notes, or not have to use them at all when doing his racist hit on your president, who has done more for african-americans, lowest unemployment numbers in history, than almost any other prez!" he is not the first a list or to find himself a target of the president's twitter feed, he has taken aim at everyone from robert de niro to meryl streep to the ceremony itself. he has just criticized others, he has offered suggestions on how to improve the show, saying just that --t, just that
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just to shake things up." mr. president, there is always next year. sign up for the newsletter at bloomberg politics.com, and get the latest on global politics in your inbox every single day. coming up, the ceo of freddie mac joins bloomberg markets at 2:00 p.m., we will discuss the latest efforts to take it out of government conservatorship. and take a look at the charts on gtv browse charts to catch up on key analysis and to save charts for future reference. live from new york, this is bloomberg. ♪
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pres. trump: ger
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i'm mark crumpton with bloomberg's first word news. vice president pence is asking a coalition of mostly south american nations to freeze assets of venezuela's state oil company. bogota, colombia today
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following a weekend of violent clashes in venezuela over blocked humanitarian aid. he told venezuelan juan guaido and colombian president ivan do care efforts by president nicolas maduro to block the aid has only "steeled the resolve of the u.s. against the regime." president trump oil prices are getting too high. in a tweet, he told opec to "relax and take it easy." he added the world cannot take a price hike. the price of oil is near a three-month high. goldman sachs said crude could in the near future. a former worker of president trump's 2016 campaign has filed a federal lawsuit claiming mr. trump abruptly grabbed her and kissed her. she says the encounter happened during a campaign meeting in august of 2016 in tampa, florida.

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