tv MSNBC Live With Ali Velshi MSNBC June 13, 2018 12:00pm-12:59pm PDT
three kps countries which have been involved in trade deals for a long time -- coe host something. i love the world cup. >> it brings cntries that are otherwise ut feuding together. i don't think that was the goal of da, mexico, and the united states. good afternoon, i'm ali very well she. fresh off his victory lap over north korea and that summit, president trump's singapore afterglow might be short-lived. the criminal investigaon ounding his long time lawyer michael cohen is back today. he was the lawyer who arranged that payment to stormy daniels and now there is an investigation into his businesses. a source close to cohen tells nbc news tha cohen is expecteto get a new lawyer. to add to that, a source tells vanity affair cohen is expecting an dime. what does this mean?
cohen hasn't flipped but quote he is sending up a smoke signal to trump, i need help. "vanity fair" is also reporting that the breakup was over a agreement over payment and how much the trump organization was expected to pay for cohen's legal defense. let's startith kennedy lanian a reporter for the nbc investigative unit. >> let me tell what you nbc news is reporting. we have confirmed t koik is essentially divorcing his plaurs who have been represent senltding him in this federal looking for new lawyers.hat's there is a lot of speculation whether that means he is looking to cut a deal with federal prosecutors. we are told that is premature. matter of fact he has not spoken to federal prosecutors and that, required to happen before any kind of deal is reached. a cooperative would come in and make an offer to outline what he knows and what he may give prosecutors without fear of
being charged. that hasn't happened. i spoke to someone close to mr. cohen today that it is possible, he may cooperate but it's premature. what is clear, he is facing high legal bills n the case where his lawyers are having to sift through million documents seized from his office. if he does cut deal, et cetera a bad news for donald trump. cohen has been a long time fixer for trump, he may know a lot about the president's business dealings. >> ken, stay on the story. i know there are developments coming out of this thing as we speaki. there is a lot dig into here. let's bring in ari melber, liz holtzman, and msnbc's legal analyst danny is a val owes. danny, the part of the storypeo
that some -- we don't know what portion but some of michael cohen's legal bills are being paid by the trump organization. is part of the reporting that "vanity fair" has is that this is a dispute over payment. that way for this to go south for donald trump. >> it is. this kind of arrangement isn't as unusual as youthink. often the test doesn't have money to pay legal bills and somebody else steps in to pay them. it could be mom or dad, could be in a corporate context if an employee may have committed a crime and the corporation is g up the defense. the attorney-client relationship rims with that part compliant and that defendant. it becomes thorny when the corporation or whoever is paying for it may be also involved in the investigation. so while this is not completely unheard of, it always raises a tricky issue when you have a potential conflict of interest between payor and the client for whom -- who is the beneficiary of the payments.
>> ari, the second part of this, and we reported on this with paul manafort is whether or not you like it, once the feds start investigating you or open up some investigation or legal proceedings against you, you ing a normal person this can be own orrous financially. >> as dappy mentioned these lawyers are being paid and that may be part of this. i don't know ieard the new jake cole album, on him he says don't hit my phone if it ain't about comas, comas being an indicator for a lot of money. they may not take kindly to their bills coming in and not being paid in a timely manner. the other possibility is if michael cohen wants to enterin the possibility of cooperating. if so that's against donald trump then obviously donald trump would not be expected to keep paying for legal services.
>> that makes it interesting. if this is a trial balloon, michael cohen getting the message out there that i have got problems and this could go the wrong way, tell me how you see this playing out. because it has to be the worst news possible after donald trump crowin about his north korea summit that maybe michael cohen's considering flipping. l >> well, let's go to a number of different points here. one is trump sent out a signal a lot earlier when he said i don't see it that michael cohen is going to flip. he said that. that was a central. michael cohen, don't flip. >> don't flip. >> i mean president, chiefaw enforcement officer of the united states, takes oath of office to take care that the laws of the office are faithfully executed. don't flip. number one, that's a possibility that trump is signaling don't cooperate. the second thing is, we have the issue of pardons here. >> which he has been floeg
around. >> he has been throwing around. others have been throwing around a lot. but a lot of michaelcohen's problems may be state crimes. >> right. >> and that means no pardonon is going to help. so michael cohen has got a lot to worry about here. the feds are looking very closely at his business enterprises. we see a number of people he has been associated with have been convicted. parers and business lies have victed of crimes or pleaded gu so michael cohen is in big trouble. if michael cohen is in big trouble then the president in big trouble. not only that, stormy daniels and hush money that was paid either by him with trump's knowledge or not. but you also have the whole e of collusion with russia. there is a big question as to whether michael cohen went to prague. he denies i. the steele der says he was ther >> >> to help cover uphe trump collusion. if that's the case, then trump could be in really serious trouble. >> ari, what tree does it
matter? because the feds raided michael cohen's home and his residences and the hotel room he was staying in. his office in this very building. they got a lot of documents. there was a lot of back and forth what's admissible and what's attorney/client privilege and what's not. but the fact is they are in possession of and have seen a lot of documents. does it matter? what do they need out of michael cohen any way? >> what michael cohen says without evidence doe that much although it's certainly helpful to any federal case. what he says that'sy evidence, well, they have the paper records. this whole thing started as we recall with the president of the united states' lawyer's office being raided. that is notnormal. that is a huge deal. then cohen said we are doing to this out. most of it is the privileged. they have been losing that. that is the backdrop. if there is bad stuff, the feds have it. if there is stuff that isn't bad
or doesn't implicate the president there is not much to flip on. >> what we see from micha coalings andt's disclosed and all those companies he was getting money from who admitted not only that they paid him money or as or advice or whatever it was, but mueller about this, there are some people who look at this michael cohen stuff and say he is a sloppy lawyer. >> sloppy. that's adjective. there are many others. in the words of "saturday night live," he is ish. sort of a lawyerish. >> right. >> as far as the documents and whether or not privilege atta attaches -- i think once we learned there was a small a. documents that were actually privileged of those that were seized we are going to see a stark lesson in the difference between someone who fashions himself as aixer who which maybe the attorney/client privilege does not apply to someone who is an actual practicing lawyer and dispensing
true legal advice. there is a distinction. i think cohen is learning that the hard way. >> what liz holtzman is the best route for the president right now? we have to keep in context there is a lot going on for paul manafort. every time paul manafort reaches outside of the realm in which he is supposed to stay becau he is charged with federal crimes he g in trouble for it. he gets smacked. may have his bail revoked. the president h people who i think it's important to realize, paul manafort was in that all important meeting we are always talking about in trump tower. and michael cohen his attorney. these two guys between the two of them will know what was or wasn't happening with respect to russia. >> they will know a lot. one hopes for the president's sake that he has been telling the truth. if not, he could be in really deep trouble because they may have various issues with regard to michael cohen that coul cause him to flip, they meaning the feds, the prosecutors, that could cause him to flip, not only on -- well, cause him to flip on trump. and that's what trump has to worry about. he can flip on many, many
things, whether it's local crimes, or federal crimes, or collusion with russia. so trump has a lot to worry about. >> i would add, if the youant to give donald trump the benefit of the doubt, paul manafort did come out of the woodwork. they don't have a lon relationship. he did promise to wok for free. and he appeared to have, according to bob mull mueller's allegations proems that predated his relationshipith trump. that's all supported. michael cohen is not that guy. >> close guy. >> michael cohen has been cl as a family member by his own estimation. he has been doing this ten years plus. he is a trump organization executive. he knows all the secrets. he is the hive mind. he is the center, where all the links come together. he is much more carey -- that may account for some of donald trump's behavior. it's skparier to have someone that close in this kind of heat. >> donald trump has tried to separate himself from both of
them in statements but it's harder to do that with michael cohen because of their longer relationship are. what doy say to suggest to michael cohen to flip? >> it is a bilateral arrangement. sometime it is the defendant who floats the balloon whether he can come in for proffer a possibly cooperate. but this is how the federal confident investigates and prosecutes crimes. what we are seeing here is a textbook example this the cohen they begin their investigation. they enlist a lot of the resources into the investigation side of it so when they make a case, when they finally indict someone, that case is airtight in their minds. and a cooperating witness realizes, maybe at the beginning, he said, i'll never cooperate. i'll go to trial. i will fight this every step of incarcerated or detained pending legal. if they are paying their own legal bills, which in this case can be considerable. these are part of the war of
attribution on suspects such that when the money is gone when you are thinking about your family and your children and you are looking at very harsh federal sentence under the sentencing guidelines that same pesche who may have said i'll never cooperate is now calling up.neys and asking for a proffer meeting so he can tell them all the goodie things that h knows about someone else they may be interested in, which in this case should or could be trump. >> very interesting conversation. we will cont to follow this very closely. thanks to the three you for your analysis. ari melber, elizabeth holtzman, and sanny is a val owes. catch the beat tonight. want t house, geoff bennett is moneyer toing for reaction there. jeff has anyone commented on this thing? this is a white house that has ied very hard to keep the message on north korea and the successes argued there. but the bottom line is they had a message to put out there and
this takes them off track. >>ert that. first, michael cohen, the president is silent so far at least on twitter. the white house isn't commenting. officials previously tried to create distance between cohen and the president for all of the obvious reasons. look, in the paz past president trump signalled that he underseriousness o cohen's legal exposure. you remember the in april, the president cabinet room surrounded by his military generals was asked about the raids on cohen's properties athe time. the president described that as an attack on the nation, said it was a disgraceful situation. so there is that. e other we are tracking here at the white house today of co is rea. the president trying to sell this agreement to the public to a skeptical congress. you heard the president at least on twitter earlier today say that north korea no longer pose as nuclear threat even though kim coming out of that summit did not dpre to timetable as to when or whether he might hand
over his nuclear weapons. but president is trying to sell this as a victory for a couple of reas one he thinks it's the a comp compelling pitch to make during the midterm elections. two he thinks it will help mitigate some of the risk he faces from tussia investigation if he gets the public on his side as a result of these talks with kim. and three, this is a man who is focused on his legacy. you heard him try to cast this agreement as something that no other administration could do. this all coming even as white house officials make clear that a diplomatic breakthrough is not the kin thing that comes from a one day summit. >> option two that you point out is meaningful. around the world in through history when leaders have been in trouble taking a tough stance or some sort foreign policy br shiny object does tend to help. donald trump's poll numbers as indicate that americans -- even with res
a lot of americans think tough talk is good talk. that's right. even as the administration talks about the potential for peace in that part of the world it's undeniable that domestic polics are a primary motivation here. >> jeff ben it for us at the white house. coming up, much more on the outcome of that singapore summit laid they are hour, including what it would actually take to confirm that north korea is no longer a nuclear thr let give you a hint. it's not tet. next, as president trump was heading back to the.s. primaries were underway in five states. what those results tell bus the republican party, its allegiance to the president and what one senior gop senator is take about his own party. a live look right now at washington, d.c. where hundreds of people are marching to demand an ep to trump's family separation policy. we will continue to monitor this and bring you developments. you are watching msnbc. no. with claim rateguard your rates won't go up
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lamenting today on the state of his own party, the republican party. corker has become one of president trump's biggest critics. he was an early supporter by way of donald trump. he is rat the end of this year. republican members of congress are finding out if you land in the president's cross hairs it could mean the end of your politil career. that was evident in yesterday's primary elections. steve kornacki wraeks it down for us. >> a couple of big results. let's break them down. south carolina, let's start there. mark sanford. the republican incumbent, out. defeated in the republican primary by a pro-trump surgency. a pro-trump backlash. sanford of course he overcame a scandal. resigned as governor, having an affair, talked about being on the am lashan trail when he was somewhere else. he made a comeback. along comes donald trump, and this. he criticized donald trump. opponents said he wasn't loyal
enough. trump weighed in with tweet. this isn't just a sanford story arc south carolina story. a week ago in alabama we watched republican member of congress, martha robie who had been critical of donald trump, denounced donald trump in 2016 challenged by someone who said she's not loyal enough to the president, republicans you need to get on board with me. that incumbent is now in a runoff. she 39% of the vote. she could lose her seat in a couple of weeks. that could be two incumbent republican members of congress ousted for not being loyal to the president in the eyes of the republican voters. that is a big story about the state of the republican party. and how the republican party really is becoming trump's party. the other notable thing to talk about last night. this with november implication. virginia. republican primary, u.s. senate, corey stewart. epublican nominee. i can tell you the republican establishment and some republican members of congress very nervous about this. why? stewart is going to run against tim kaine, the democratic
incumbent. folks have been figuring that cain is in good shape to win re-election no matter what. it's not about the senate race. it's about the senate race being at the top of the ticket, top of the ballot statewide in virginia thflt race is is going to set the ton for the entire ballot potentially in virginia. corey stewart is somebody who made confederate battle monuments one of his pet issues, made political alliances with house leader anti-semitism. >> a republican hasn't won statewide election in virginia since 2009. joining me now to continue the coersation, host of kcdc. thank you for filling in for me while i was seas. what to you make of that. >> it has been an honor to fill in for you and work with your awesome team. this is a manifestation of what we have trying to explain to
viewers so many months. why are republicans continually standing with donald trump when it seems ashough sometimes critics believe they should be breaking with the president? the reality is republican, especially primary voters, are with this president. this is really president trump's party now. that is what mark sanford's opponent ran on. katie arrington said i am not going to go on cnn and attack the president i am goc to work for you. sanford convinced voters at the last second he votes with the president. that's true. his voting record lines up with what the president was asking the members of congress to vote with. but he was saying i think the president is is untrust worthy. he called on the president to release his tax returns. he said this president wasn't exercising tolerance. and he said i'm not afraid to go out there and criticize this president. voters clearly didn't like that. i asked paul ryan if others should take this as a warning. here's how he answered.
>> it was a very close election. some of our members have lost primaries. that's just what happe contested primaries. >> [ inaudible ]. >> everyycle people lose primaries. that happens. >> the reality ali is that the way -- if you look at how they are approaching major policy issues, it is with this electoral reality in mind. take immigration. this is one place the house speaker hasn't been willing to confront the president. he is saying i'm only going to pass a billresidentwill sign. they have been trying to avoid a situation where they might vote on a bill even though it would they wouldn't get the majority of republican votes because the white house wouldn't pass something like that. same thing, republican senate leaders quashed this chance to vote on an amendment that would sentially hit back at the president's tariffs on our
allies. leaders said we don't want to cross this president in an election year. bob corker is saying that's exactly how it's playing out. what happened to sanford, that's why. >> up on the left side of our screen we are showing protests going on in d.c. about immigration. i see a number of democratic members of congress there supporting those things. this is tricky for republicans. necks week they have a vote coming up on two bills, two republican bills. even a majority of the republican party supports finding some solution to the dreamers saga. how do republican candidates play this in the primaries and coming up to the election? >> absolutely true, ali. i think how republicans are going to approach this issue specifically will vary very much from district to district. there is a reason why you saw the ground swell on moderate side of the conference for this discharge petition we have been talking about. i have to tell you and i think it's relevant to the images you just showed the narratives and
the terribly distressing stories coming off the border, parents being separated from children, we haven't seen the implications as much yet from the change in policy on domestic violence victims seeking asylum but those changes in the emotional stories are making this issue much more difficult for republicans to grapple with for obvious reasons. there is question i tnk about this compromise bill that they are working on and whether it could actually become something real -- >> let me interrupt you. we have got breaking news from garrett and lee anne. this compromise immigration bill will address children separated at the border so theyent would be separated. jeff denham says the bill is going to include eliminating the diversity alert, border security. provisions so kids at the border can stay with one parent and no provisions for dreamers who are here now. we don't have deal on whether that means a pat to citizenship
or what it means because to different republicans this means different things. is that what you believed they were working on in a compromise bill. >> we have been chasing the story. i'm glad they have gotten to the point where they feel our sourcing is solid enough that this is reportable information. what we have been hearing is this is kpa would be in this something to address thebe families being separated at the border. i think the fact it's potentially in the compromise or at least they are discussing the contours of that really again tells you a lot about how politically difficult and franklym a human perspective -- i mean, it's hard for these members of congress to answer questions about this in the hallway if in theory they do agree with the policy. images and the stories are gut-wrenching. many of these members have children of their own and they all can kind of put themselves in those shoes. i think that that really speaks to the renewed urgency of this issue. part of this was there was that hard deadline for dreamers and a
lot of them were going to start getting dert poed. and the courts effectively punted that deadline. congress doesn't operate well without a deadline. it can be real, written on a calendar or it can be a plitt political crisis that gets to a boiling point. i think they really are feeling as though they need to do something about this, which has brought this issue back to the forefront alone with the push from moderate medicals to do something on the dreamer question. this is all taking place in the context of the speaker has said he is not going to run for reelection. he is not going object the speaker the next time around. the group of moderates who care about the issue, who want to move on it, they are potentially the ones who will suffer in the fall if in fact there is this blue wave. they have an interest in being loyal to ryan and trying to make his life easier before. >> but if he is not going to be there, this is not about making his life easy year. kasie hunt on capitol hill.
after the break, we will tell you what role russia is claiming it played in the agreement reached by president trump and north korean leader conservatorship. you are watching mbs. thing saysr like a beach trip, so let's promote our summer travel deal on choicehotels.com like this. surfs up. earn a $50 gift card when you stay just twice this summer. or, badda book. badda boom.
little thing like cross continental travel from sending a flurry of tweets this morning assuring all of us that north korea is no longer a nuclear threat. is it? let's look at kim jong-un's nuclear arsenal and what it would take to denuclearize it. north korea has about 60 bombs. we don't know the extent of kim jong-un's nuclear stockpile and there were no public disclosures of that at this week's summit. these bombs are a serious threat when coupled with north korea's advances in rocket technology. the latest missile technology could put washington, d.c. within range of an attack. what is the actual path to denuclearizing north korea? for the united states it's based on complete verifiable irreversible denuclearization. that would require the regime to reveal the details of its entire nuclear program including how many bombs it has and what facilities it has to make those bombs. allowing weapons inspectors in,
giving them access to the whole country and disabling all of its nuclear sites permanently. none of that is in the agreement. no steps are laid out. no conditions. not even an outline has been put forward. yet donald trump says there is no nuclear threat left. asor how long denuclearization could take, experts at stanford esmate take u to 15 years. the iran deal came about ten years to negotiate. and iran never had a nuclear weapon. north korea actually does. for more on the process of denuclearization and the outcome of the summit i'm joined by lacy healey, the founder and editor of ink stick media. she also hosts a podcast, things that go boom with p rirksor, and a partner at the truman national security project. lacy, i wanted to hold my fire on what came out of the summit. it was definitely historic. on monday we were watching kim
jong-un emerge from isolation onto the world stage thinking t jong-un and north korea. but maybe something will come of this. maybe something will come of it. you about when the president tweets that north korea is no longer a threat we have no now reassume the position th the president is to the being honest with the world. >> this is hard. as a nuclear analyst particularly, and as someone who followed the iran negotiations very closely. it's hard to see after one meeting a u.s. president return home and say deal's done, we finished it. they are no longer a threat. it's all going to be okay. well, still understanding that north korea still has everything that it yesterday. it still has all of its nuclear weapons. it still has its facilities. it still has the ability to manufacture more nuclear weapons and build more facilities. at this point we really haven't taken any steps along the road toward a better situationeranhe
deescalated tensions. i am with you there. >> that's good. >> very fair to say. >> that's not a bad thing. let's frame it as what it is. i g back to have nuclear weapons and it took ten years to work this out. in fairness when the made to got involved and negotiations were intense in the last two years that's when the heft lifting got done but these things are hard even if we were able to verify which we were able to do in iran. we knew what was there because of spying and intelligence. and they didn't actually have nuclear weapons. moving forward,he escalation of tensions -- what else we didn't see out of this meeting was a time li mike pompeo said they are going to work on it rt something the next week. what do you see? >> best case scenario and if pompeo is forthcoming and being truthful then they get started be great.gotiations, that would that would be good. because that's going to be a
long processand of its you corr iranl tk a very long time to negotiate. all of these sorts of deals, previous negotiations with north korea, we have been negotiating with north korea for years and years and years,decades, in we have signed similar agreements before. we will have to make sure that no g to to its commitments. we will have to come to that pointhere they do declare what they actually have. and do have a better look inside the country. then we have to get inspectors on the ground. we have to look at their facilities. there are so many steps along the way where it can break town. we really are only at the very beginning of that. as you said it could cake 15 years. >> something i found interesting in the last 48 hours is the degree to which russia injected themselves into this thing.they followed the road map imposed by russia and china earlier this year. russia is sdenly sbld in
staying relevant to t conversation. what's that about? >> it may actually be a g sign. it may be moving forward in a good direction. countries like russia and china want to make sure they are involved, that they maintain their relationship with north korea, a country which both have seen as if not a dirt ally, certainly a useful continued relationship. and so t are going to be now i think lobbying to remain involved in the negotiations and remain very relevant, an to sure that their own interests are protected along the way. i think that that's very important, parcularly when we are talking about even china, which will be worried about regional implications. >> a good conversation thank you for joining us. up next, at&t's merger with time warner could be final ayed just days fr now. what that mega deal could mean for you the consumer and other potential mergers that are in e work. e work. you are watching msnbc.
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i ha a lifetime of experience. so i know how important that is. ♪ with expedia you could book a flight, hotel, car and activity all in one place. in a move that really is going to reshape the media industry, at&t and time warner will merge, as early as next week, after a federal judge rejected the trump k the $85 billion deal and placed no restrictions whatsoever on the acquisition. the government had claim that a merger would stifle competition and lead to higher cable bills. at&t argued that it had to grow to survive. trump had vowed to block this merger not on its merits but
when it was announced weeks before the 2016 election. >> at&t is buying time warner, and thus cnn. a deal we wi not approve in my administration becauses too much concentration of power in the hands of too few. >> all right. the president isn't always concerned about media concentration of power. thankfully, the courts don't always have to listen to what the president has to say. out concentration of powe story at&t i going to become a power house. it owns directv, the equity largest wireless carries and one of the largest internet providers it's going to inherent ownership and distributorship of some of the mlar content tv channels, time warner owns cnn, hbo, and this could lead to a battle ben disney and comcast, the parent of nbc news
over which company gets to buy most of 21st century fox. joining me, roger mcnanny. really good that the courts don't have to listen to what the administration or the president says. that's a victory for the courts. on the other hand it's puzzling that an $85 billion merger of this sequence got approved with zero conditions? >> unbelievable. from amer's perspective this is a brutal week. first the end of net neutrality. it's unclear exactly how that will play out. then this decion here allowing a massi vertical integration in telecommunications and media, which essentially suggests that as a consumer, you don't know where the higher price is going to come in. what you know is you got the pointy end of the stick. >> right. this is interesting because we traditionally as traditional consumers of cable or internet we think about prices going up.
the issue here might be much more serious. there may be instances where prices go down but your access to things is different. >> yeah. my gut instinct is whatou are going to see is prices are going to be stable and access is going to go down. >> right. >> i also thi what you will see is more merger activity, more consolidation. it's not crazy to imagine a google or a facebook or an apple taking advantage of this decision, taking advantage of what is essentially a no rules environment. >> right. we want a healthy federal trade commission and a healthy federal communications commission and a healthy department of justice that looks at these comprehensively and imposes some regulations. what this administration did is itook a political decision that it didn't want cnn involved a decision that says the rt take president can't make a political decision about the merger.
nobody was regulating it. >> nobody was worried about the consumer. this was a political battle between the executive branch and the judicial branch over what was a completely inappropriate political activity by the president. >> correct. we can all agree on that. where is the regulation? who is supposed to have looked at a deal of this magnitude and said hold on, what is the actual outcome and the effect on the consume center it's great you and i are having this discussion. but none of us regulate anything. >> i'm hopeful the newly reconstituted federal trade commission under joe simons will rebuild it is regulatory infrastructure. it has a need. e consumer is on the wrong end of every single decision going on in business right now. whether it shows up in price, whether it shows upn invasions of privacy, whether it shows up in changes of what you are offered, whether it's manipulated behavior by messing with the human psychology because the systems have become
so powerful -- we have 5g coming, you are going to have the enter northwest things. these people are going to have this stuff everywhere. they will be listening. they will beaging all of these emts elements in your environment and there is literally no one today looking at that. my hope is the ftc -- >> it puts meat on the the bonee remains abstract. now you have a perfect example of a company -- cam cost and nbc universal merged. we are the product of a merge. i am not anti-merger. but i am anti-there being no rules. there were rules on the comcast and nbc universal. if they weren't going to be great corporate citizens -- they claim they won't do this but they could say your at&t content will be cheaper, your hbo will be faster, your cnn will be free on ourservice, but other thing will be charged for. >> i don't think we have any
idea. the answer is of course, all of those things are possible. >> or t. >> and about a hundred other thing are possible testimony witness thing that you know is whatever they do will favor the large companies and be at the expense of the consumer. the challenge that we fac now is that tecology is not part of our entertainment system. it is part of the central nervous system of people's lives. >> correct. >> it's part of their business life their home life, everything. so these companies have an extraordinary amount of control. there is nothing inherently wrong with the mergers except that it is reducing competition, reducing the amount of choices and the pressure -- >> that is the role of government to preserve. >> exactly. you know, we are not setting up 5g to create any new admonition. >> right. >> so all of this to me looks like a necessary loss for consumers. >> roger i'm glad to talk to you about this. i know you changed your flight to be able to do this. roger mcnamee. cofounder of roger elevation parters in.
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did what many people expected and announced a quarter percentage point rate hike to a range of 1.75 to 2%. the fed also hinted that two more hikes are coming before the end of the year. that's more than we expected. all of this is a sign of the fed's confidence in the economy. the unemployment rate is low. wagesre slowly ticking up, as is inflation. that's what the fed does when those things happened. i'm joined by my friend from cnbc sue herera. what do you make of this? >> this fed is being very transparent and indicating that the economy as you just mentioned is strong enough to withstand more interest rate hikes than perhaps wall street was expecting. and in addition, they're saying that they're going to hold a news conference sororityers can ask them questions and they can address those key issues after every meeting, which found one of the most remarkable things about this particular news conference. but i donk, to your point,
it means that the economy is strong enough to take these interest rate hikes and it means that inflation, which for a long time was almost nonexistent, is creeping back into the economy again. so, i think net-net it's a positive. recessions come and go. there have been more than just the big one that we saw eight-plus years ago. >> right. >> that was eight-plus years ago. there are some including the fed chief who have suggested we can't forget that they don't still happen. >> exactly. >> as the fed raises rates, on one hand that gives them tools in case t economy slows down, they can lower those rates. did they talk about any fea of a slow down in the economy? >> they did talk a little bit about that, and they also talked about what is called leverage, which is, which is how some institutions use debt and use other instruments to basically make their returns a littleit better. and they're watching it very carefully. not in financial institutions, but some other institutions out
there. so, they're worried a little bit about that and they're watching oil prices very, very carefully. two-week high settlement on oil today, ali. sue, always great to see you. cnbc's sue herera. amid all these tariff talks and clash between the u.s. and canada and mexico, there's this. soccer. the three countries are sharing host duties for the 2026 world cup. in a bit of unexpect the irony, the games are being branded as united 2026. i figure they came up with that before all this trade talk started. it remains to be seen how united north america is going to be in eight years especially after the g7 summit. the last world cup in the uni states was in 1994 and despite claims that soccer isn't popular here, that tournament had the highest average attendance of any world cup. the only issue for the u.s. is that now that soccer -- now that our soccer team needs to qualify, typically host countries are given an automatic bid but it will be up to fifa if
all three nations will get a birth. as for this year's world cup, telemundo is your home for every goal. the 2018 fifa world cup begins live from russia and you can watch every match in spanish on telemundo. you can also watch it in english if you want to. we'll take a quick break. we'll be right back. already wit. because my body can still make its own insulin. and once-weekly trulicity activates my body to release it. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medullary thyroid cancer, you're allergic to trulicity, or have multiple endocrine neopsia syndrome type 2. stop trulicity and call your doctor right away
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day can i give you a goodeason for what happened in the markets. midday they started to go down. look what happened in the last hour. some of this is the federal reserve raising rates as expected, but also saying that there is going to extra interest rate hike this year and some comments were not asish ons what you're seeing here. a give up of about half a percent on the dow, 115 points. that's it for me. "deadline white house" with nicolle wallace starts right now. >> hi, everyone. it's 4:00 in new york. is trump's fixer thinking about flipping? that's the question of the hour after news broke today that michael cohen is parting ways with the lawyers representing him and what "the new york times" describes as a potentially damaging and wide ranging federal investigation in his business dealings. the times also writes that mr. cohen has not yet been contacted by the prosecutors who are conducting the inquiry. but as the investigation widens and with mr. cohen's legal team in tu