15 Burst results for "Patrick Toomey"
"patrick toomey" Discussed on The Crypto Overnighter
"Good evening and welcome to the crypto overnighter. I'm nicodemus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax and let's get started. And remember, none of this is financial advice. And it's 10 p.m. on a Saturday. May 13th, 2023, and welcome back to the crypto overnighter where we have no sponsors, no agenda, and no BS. And let's kick things off with our cover story for tonight. Binance announced on May 12th that it will withdraw from the Canadian market. The company cited new guidance from Canadian regulators as the reason for this decision. The Canadian securities administrators issued the new guidance in February. It requires cryptocurrency exchanges to register with the agency and to comply with specific investor protection measures. Binance said that it does not agree with this new guidance. So binance says that it's going to withdraw from Canada in order to quote protect our users and our business. Binance's decision to leave Canada is the latest in a series of setbacks for the country's cryptocurrency industry. Several other major exchanges, including okay X, DY DX, and paxos have also announced their withdrawal from Canada in recent months. The CSA's new guidance is part of a broader effort by Canadian regulators to bring the country's cryptocurrency industry into greater oversight. The regulators have expressed concerns about the risks of fraud and market manipulation in the cryptocurrency market. The withdrawal of binance and other crypto exchanges from Canada is a blow to the crypto industry. However, there are still many smaller crypto exchanges that still operate in Canada. It remains to be seen how the new regulatory environment will affect the future of the country's cryptocurrency industry. Meanwhile, binance U.S. and its founder Chang Peng zhao are trying to reduce his stake in the country. Specifically because of harsh scrutiny from U.S. regulators. CZ has been the majority owner of binance U.S. since 2019. In March of 2023, the CFTC sued binance and CZ for operating an illegal exchange with a quote sham compliance program. The CFTC accused binance of willfully evading U.S. law and of engaging in a quote calculated strategy of regulatory arbitrage. Binance has since denied those allegations. By Nancy U.S. bosses have reportedly been seeking ways to reduce both CC's stake and his influence over the company in response to the suit. They're worried that they may not be able to acquire some of the regulatory licenses as long as CZ remains the majority owner. The U.S. SEC has also kept an eye on binance U.S.. In February of 2023, the SEC suit paxos. Paxos was the issuer of binance's stablecoin BUSD. And we're going to be talking about some Democrats stablecoin legislation later on in the show. So the SEC's actions resulted in the end of minting BUSD. Meanwhile, they blocked approval of a binance U.S. bid for assets belonging to Voyager digital. The SEC explicitly targets American based crypto exchanges to bring them under the same stringent regulations as banks and stock brokerages. This is such an obscene misunderstanding of the situation it is almost comical. Almost, except these guys have influence over our financial futures. Their clownish behavior ain't so funny anymore. And as a result, many major crypto exchanges are considering moving offshore. I mean, look at coinbase, Gemini, ripple, galaxy digital. They're all eyeing move. Another major exchanges such as cracking and bit tricks have already fully or partially shuttered services in the United States. Coinbase started their offshore futures exchange. U.S. citizens? Not welcome. Thank you regulators. And speaking of clowns, as I said, the SEC is cracking down on the crypto industry. And now, a legal doctrine called the major questions doctrine could undermine the SEC's authority. This doctrine says federal agencies should not get ahead of Congress when regulating major economic issues. And we're going to be talking a bit more about coinbase and their legal situation here in a bit, but they've already cited this doctrine in their defense against the SEC. It also kraken, their chief legal officer, Marco sanctuary, he thinks it's a specially relevant as lawmakers begin to work on crypto oversight. Santori says the fact that Congress is taking up the issue of crypto regulation and that these two committees have held a joint hearing on it. Those are signs that this is a question that Congress should decide. Not the SEC. A major question you could say. He believes a court might agree with this assessment and strike down the SEC's authority to regulate crypto. The SEC and the CFTC must keep the major questions doctrine in mind as they decide how to regulate crypto. Sanatoria says these agencies ultimately will have to decide for themselves whether this is a major question. He believes that the evidence suggests that it is. Santori is hopeful that Congress will pass legislation that provides clear guidance on how crypto should be regulated. He says most lawmakers from both parties seem to think that this is necessary. However, he acknowledges that the Senate's view on the issue is uncertain. And thank you so much for tuning in tonight. I'm going to ask you to like follow and subscribe to the podcast to help bring this show to more people. So thank you. Now coinbase is forming a new advisory panel and filling it with former U.S. lawmakers. This panel will help coinbase navigate the complex and evolving landscape of the cryptocurrency industry. It will likely also capitalize on relationships built on Capitol Hill. It will also strengthen coinbase's relationships with other strategic stakeholders around the world. The initial members of the panel include former U.S. senator Patrick toomey and former U.S. congressman Tim Ryan. Now coinbase's forming this panel as it faces increasing regulatory scrutiny in the U.S.. The company's CEO, Ryan Armstrong, said he is exploring further overseas expansion. And we talked earlier about coinbase's overseas derivatives exchange. Coinbase also
"patrick toomey" Discussed on Bloomberg Radio New York
"Bloomberg radio. President Biden is helping to remember those who lost their lives to gun violence. He spoke at the tenth annual national vigil for all victims of gun violence in Washington, D.C.. Events like this are hard. Because it brings back the very moment that everything happened. No matter how many years pass, but your voices matter. The event was being held after numerous mass shootings this year, including in Buffalo, New York and Yuval, Texas. The nation is also set to mark the tenth anniversary of the Sandy Hook Elementary School shooting in Connecticut next week. House minority leader Kevin McCarthy is praising the end of the COVID-19 vaccine mandate for military members in a statement that California Republicans said the repeal of the mandate is a victory for military members and common sense. He added that he's told President Biden to rehire military members who were forced out. Other states are reporting targeted power outages similar to the one impacting thousands of North Carolina residents, a federal law enforcement memo obtained by news nation says Oregon and Washington experienced physical attacks on substations in response to an online call for strikes on critical infrastructure. The Supreme Court's conservative majority is skeptical about state lawmakers being able to set federal voting rules on their own. Lisa Taylor has more a North Carolina state court struck down Republican drawn congressional districts, North Carolina Republicans brought an appeal to the highest court asking it to enact the independent state legislature theory, which would make it possible to deny state courts of the power to do so. In Raleigh, I'm Lisa Taylor, Moscow police are looking for a white car that was seen in the area of the house where four university of Idaho students were murdered three weeks ago. The vehicle is a white 2011 to 2013 Hyundai elantra. However, police don't know the license plate. I'm Brian shook. The search for a missing pilot after a plane crash in Florida is being called off city of Venice officials say divers have completed search and recovery operations at the crash site after consulting with the coast guard, the search for missing pilot Christian cat has been discontinued. Kathy's wife misty and their 12 year old daughter lily were killed in Saturday night's crash in the waters off of Sarasota county. A New York woman and two others are suing apple in a class action lawsuit, Jennifer Paul Sony reports. Two women, including a Brooklyn resident allege, apple's airtags are unreasonably dangerous products that can be used by stalkers. They say they're suing on behalf of all those who were tracked by airtags without consent asking the court to find Apple guilty of negligence, product liability, violating privacy rights and other consumer violations. Today is the 81st anniversary of the surprise Japanese attacks on Pearl Harbor, Michael kasner has more. December 7th, 1941, a date which will live in infamy. A day after the attack in 1941, president Franklin D. Roosevelt addressed a joint session of Congress and made that declaration on Tuesday, President Biden signed a proclamation declaring December 7th of 2022 national Pearl Harbor remembrance day. The proclamation urges all U.S. flags to fly at half staff today in honor of those American patriots who died as a result of their service at Pearl Harbor. I'm Michael kasner, a California startup is promising a flying car by 2025. Aleph aeronautics from the San Francisco Bay Area wants to start delivering its $300,000 model, a flying car to customers by the end of that year. ALF is already taking deposits from potential customers. It costs $150 to get on the waiting list and 1500 prisoner Bloomberg world headquarters in New York. Let's check this hour's top business stories and the markets Dutch officials are preparing new controls on exports of chip making equipment to China. We are told an agreement could come as soon as next month. These new controls as we understand could potentially align Dutch trade rules with those of the U.S. as a way of restricting Beijing's access to high end technology. Federal prosecutors are reportedly investigating whether FTX founder Sam bankman freed and his hedge fund executed trades in a way back in May that eventually led to the collapse of two cryptocurrencies. The New York Times says prosecutors in Manhattan are examining the possibility that bankman freed steered the prices of two interlinked currencies Terra USD and Luna to bent of it entities he controlled. Meantime U.S. senators sherrod Brown and Patrick toomey are seeking testimony from bankman freed at a hearing about cryptocurrencies, the I should say the collapse of FTX on December 14th. China is even easing COVID restrictions, although doubt seems to be creeping in to the market's view on the path forward earlier I spoke with Bloomberg Sophia horta at Costa for her view on what's happening. This is really the narrative dominating Chinese markets right now. It's the reopening story, but it's also the risks around reopening and that's why we saw such a dramatic drop yesterday. I mean, volatility will be the name of the game now. Obviously, everyone was waiting and expecting and really wanting to get signs out of China that it was going to roll back COVID zero because it was so economically damaging, but now obviously the concern is on the current is highly transmissible. What will be the on the ground impact of this and the uphill battle that China faces to really revive consumer sentiments and consumers spending. And get the economy going again. That's kind of those are the two things that the market kind of swings between. Yesterday, the volume in Hong Kong's equity market was incredibly high. So a lot of appetite to sell on the gain. November was an incredibly good month. And today it's quite low. So it shows that there isn't really much room higher today. I wouldn't be surprised if we see intraday pairing. That is Sophia horte Costa Bloomberg's chief China markets correspondent right now in Hong Kong. We've got a rally in equities with the hang seng up 2.8%. We check markets every 15 minutes here on Bloomberg in Tokyo. We've got the nikkei down 7 tenths of 1% on the Chinese mainland Shanghai composite better by a tenth of 1% in Seoul the Cosby, weaker by 6 tenths of 1% and in Sydney the ASX 200 down 6 tenths of 1% as well. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. This is Bloomberg. Hundred journalists and analysts in more than 120 countries. This is Bloomberg.
"patrick toomey" Discussed on Bloomberg Radio New York
"What about that phrase end of that targeted measures from the PBOC the medium term lending facility that wasn't there As a heist what do we think the stimulus levers will be Do you think it's MLS first And the prospect of a rate cut is now on the table for 2022 at a headline level It is on the table man It's more support is coming I think with the PV of C as you mentioned it probably will be a rate code They will pull out their levers to ensure there's enough liquidity in the banking system perhaps even as we saw today allowing the U one to soften a little bit But most of the official sector action is expected on the fiscal side Last week spoke about for example the need for tax cuts and tax breaks and tax offsets for business people in particular So clearly they're going to do a lot on the fiscal side and of course as I mentioned in terms of the data today we saw state led investment starting to pull away from the private sector south suggests more money will be spent on for example infrastructure infrastructure projects So it will be a mix of borrowing and spending along with the tax cuts most support coming from the fiscal side But either way there will be government support because otherwise mine is most economists say they will struggle to hit the growth target of about 5 and a half percent Okay and thank you very much and to Karen on the very latest on the China data To the U.S. democratic senator Joe Manchin says he won't back President Biden's nominee for fed vice chair supervision Sarah bloom Raskin Now to move that will likely doom her confirmation in the Senate Let's get to our global economics policy editor Kathleen Hayes Kathleen this is in some ways a political flesh wound for the president Why the hesitancy on mansion Well let's first of all let's think who Sarah bloom Raskin is She is a she's already been a member of the Federal Reserve board of governors 2010 to 2013 when president Obama asked her to be the deputy secretary She's an academic She's been a financial regulator in the state of Maryland You think she'd be perfect for this job of vice chair supervision Looking over the banks And who is Joe Manchin He's a powerful senator from the state of West Virginia This is a coal state He's a senator who wants to make sure that the energy transition moves slowly He'd like to see more oil and gas production right now Sarah bloom Raskin after she left the fed in her academic career and on all kinds of panels there's been a supporter of the fed looking more at the impact of climate change on U.S. banks for Joe Manchin that's a red flag just as it has been for other Republicans who are afraid that the fed wants to meddle in how capital is lent to oil and gas companies Pull them back if they're not falling in line with the climate change mandate So interesting Patrick toomey who is the ranking member of the Senate banking committee They are the ones who have to get these fed nominees through so they can be voted by the entire Senate and go to the president He was on our Bloomberg television balance of power show today when the news broke a mansion's opposition he was asked what it means for Raskin This is what he said It probably does as a practical matter I'm not aware of any Republican support for Israeli and I have not spoken with every last Republican colleagues So I'm not speaking for anybody but I'm just not aware of it In fact after a mansion spoke out Susan Collins a moderate Republican from the state of Maine says she does not see Raskin moving ahead and remember most important here it's divided Senate 50 Democrats 50 Republicans If you have even one Joe mansion not on board and all Republicans against Raskin she is not going to get confirmed So that's where things stand now And who knows what magic Biden and his team might be able to play but for now it looks like the other four nominees are actually not saying nominees Well I want to say Jay Powell for fed chair and Lil brainard for vice chair and two others are maybe going to be approved by a Republicans The fed will still be able to do his job but maybe Raskin won't be part of that team Okay Kathy as you say there's some caveats in that aren't there Some interesting caveats Thank you very much Kevin Hayes in New York for the very latest on fed talk Let's check in on the first word headlines from around the world Back to New York Ronny queer is with the team Bonnie.
"patrick toomey" Discussed on Bloomberg Radio New York
"Asian trading session is faring up with Bloomberg's prisoner Doug Hey Juliet I'll risk assets are in favor thanks to reduced tensions over Ukraine at least That's what we're expecting to learn A couple of threads on this story will get the latest when we check global news with Ed Baxter but certainly that was behind a rally in U.S. equities especially among high-tech stocks with the NASDAQ composite today up about two and a half percent And the theme of tech leadership carrying over into the Tokyo session we have information tech as a group up 3% right now and the nikkei rallying by about 1.3% It's 9 o'clock in the morning in Hong Kong The equity market will begin trading at the bottom of the hour We're also expecting to get the numbers for the mainland economy in terms of inflation CPI PPI do at a 9 30 local time We did have a big rally today in a lot of the ADRs listed here in New York that trade Chinese stocks the NASDAQ golden dragon China index was up about 4.7% consistent with this appetite for risk South Korea's economy added the most jobs last month since 2000 I'm talking about 1.135 million the 11th straight monthly gain if you look at the market in Seoul right now the cost is up One and a half percent In Sydney ASX 200 better by a half of 1% as well Tomorrow in the states the focus is going to shift to data on retail sales We also will have the fed minutes from the last meeting and earnings from Nvidia E mini futures now for the American market showing a little bit of weakness average loss here is about three tenths of 1% and in the bond market yields do remain elevated ten year treasury at 2.03% more on markets in 15 minutes Brian All right Doug thank you very much Republicans on the Senate banking committee blocking votes on President Biden's 5 picks for the Federal Reserve It stems from GOP opposition to the nomination of Sarah bloom Raskin as fed vice chair for supervision Senator Patrick toomey said that Raskin had not adequately addressed questions with regard to her role as a board member of a FinTech company and he and other GOP senators have also blasted Raskin's past comments that call for the fed to do more to address climate change Today GOP members the banking committee failed to attend an afternoon meeting and thus prevented a quorum Senate banking chair sherrod Brown sounded off on that move My Republican colleagues claim it's because they haven't gotten the information they've requested from one of the nominees Let me be clear miss broome Raskin has been the subject of an unrelenting smear campaign in fearmongering by the ranking member and Republicans something that's become all too common Brown said that he would reschedule votes on Raskin and the other fed nominees The Senate banking committee is also considering the nominations of Jerome Powell as chair lael brainard Lisa Cooke and Philip Jefferson Who will get the numbers on inflation for January retail inflation likely slowed mostly due to declines in food prices economists surveyed by Bloomberg expect the CPI to rise 1% year on year and this compares to a one and a half percent gain in December On the wholesale level China's factory gate prices also likely called given lower commodity prices economists forecasting a 9 and a half percent rise in PPI from a year earlier that is nearly a 1% drop from December The dotted Jew in about 25 minutes time that's 8 30 p.m. on Wall Street 9 30 a.m. in Beijing Well coming up in a few moments so we will be chatting with Chet and Seth who is Asia Pacific equity strategist at Nomura taking a look at the latest in the markets The time now just about 5 minutes past the hour it's time for world news.
"patrick toomey" Discussed on Bloomberg Radio New York
"Harden to Philadelphia with other players and draft picks involved I'm Dan schwarzman that your Bloomberg world sports op day Markets headlines and breaking news 24 hours a day At Bloomberg dot com the Bloomberg business out and at Bloomberg quick take This is a Bloomberg business launch Hi everybody 13 minutes before the top of the hour we update markets for you every 15 minutes here On Bloomberg radio Well let's take a look Asian stocks are up this morning There's a number of positive factors here looks like a little bit of a pullback in tensions between Russia and Ukraine And that is serving to power up sentiment across the region of futures had been higher The cash markets are now up we mentioned the nikkei of 1.8% the a 6 200 up a half a percent and the Cosby has rallied about 1.6% Tech is doing quite well We had a very strong day for Chinese shares in the United States the NASDAQ old and dragon index was up 4.7% Companies like Alibaba up pretty handsomely Baba gained 3.5% during the session and both China and Hangzhou index futures are higher We also had some word from a couple of other companies like Airbnb and Marriott that they beat on earnings both in revenue and profit Airbnb's earnings per share 8 cents compared with an estimate of just three cents and Marriott had a strong earnings two saying the demand for leisure travel was powering up the hotel business So that's all feeding through into markets Now it's only one day and we had three days of losses prior to this but at least for today we had the S&P 500 up 1.6% the NASDAQ two and a half percent the Dax up about 2% and as mentioned all the markets that we normally cover for you on this program in Asia are up this morning Bitcoin rallying as well 44,193 We had a big pullback in oil It was down about 4% or so WTI now $92 and 43 cents the yield on the ten year up to 2.03% in dollar yen one 1567 pullback in the havens and that is a check of markets Let's get to it Baxter with news and San Francisco Ed All right thank you very much Brian Yeah our president Xi Jinping China has weighed in now through a news report from Wayne Paul saying that Hong Kong should tackle COVID by all means that it is the most important thing right now We will have more details on what that could possibly mean at the top of the hour from Bloomberg's Emma O'Brien Hong Kong reporting out over 1600 new virus cases meanwhile with 4500 prelims So continuing to grow Yonhap is reporting that South Korea is reporting out 90,000 new COVID cases day to today Russia says it has pulled back some of its troops Ukraine border front but the U.S. says it is yet to see any evidence of that A Russian president Vladimir Putin says he needs assurances that Ukraine will not join NATO meanwhile president Joe Biden says Russia has 150,000 troops encircling Ukraine and Belarus and that an invasion remains distinctly possible Meetings today between Emmanuel Macron and Joe Biden and Olaf scholz and Vladimir Putin U.S. Secretary of State Antony Blinken and foreign minister of Russia Sergei Lavrov Biden reiterates of Russia invades Nord stream two will not operate Australia's prime minister Scott Morrison is asking China for help on the issue of easing tensions there And truckers in Ottawa have begun breaking down their encampments after the prime minister Trudeau threatened more severe punishments In San Francisco I'm Ed Baxter all right let's get you back to Brian Yeah I wanted to take a little bit of a closer look at this story about president Xi Jinping saying that the Hong Kong government has to take the main responsibility here It seems like there's a little bit of a handover of power here back to Beijing that may be going on Because the two newspapers the two pro China newspapers one way ball and also dog own Bao Both running stories here according to the South China morning post that emphasized the responsibility of the local government in Hong Kong But then also saying that central government is setting up a work mechanism to ensure anti pandemic coordination And this group is to be led by the State Council's Hong Kong and Macau affairs office that means Beijing officials And the national health commission also in China And that it would involve Beijing authorities and experts as well as the Guangdong and local governments so it may be that a very tough response is coming We don't know yet whether this means a full lockdown or whether or not Hong Kong governments plan to do partial lockdowns of buildings and public housing estates one at a time with these breakouts that we'll have to wait and see whether or not it extends to all Now contrast that with Germany is set to join other European countries now in phasing out COVID-19 restrictions in the coming weeks So it's really it's a very different strategy in Hong Kong and China are pursuing From the South China morning post that Moderna will open up a Hong Kong office and hire 1000 people to power up its Asia expansion From Dow Jones the SEC is examining the relationship between the U.S. arm of binance and two trading firms with ties to binance's founder And also shares of Hong Kong based global cord blood active in U.S. trading the stock was up about 30% at one point and then ended up falling but it seems to have there was a case in The Wall Street Journal that a case of a woman who appeared to have been cured of an HIV infection after getting stem cells from umbilical cord blood And that is the media Juliet and dug to you Thank you Brian Will Republicans on the Senate banking committee have blocked a vote on President Biden's 5 picks for the fed let's get more on this with delay her most and Bloomberg senior Washington correspondent and slay her it seems to be in a dispute over Sarah bloom Raskin's nomination for vice chair There are some questions about her role as a board member of a FinTech company tell us about why Republicans have blocked these bids and what they concerned about Yeah well senator Patrick toomey has been the leading voice among GOP senators who have blasted Ferro bloom Raskin's comments in the past where she has called for the Federal Reserve to do more to address climate change And that is what Powell or sorry senator toomey is complaining about that the Federal Reserve is not there to look at solving climate change and environmental crises and is there to set monetary policy So we know that the Senate is evenly divided Joe Manchin who is the democratic senator from West Virginia obviously very much concerned about any attempt to control the output of carbon dioxide into the atmosphere given that the West Virginia is very much a coal state Do you think that the Biden administration has to pivot now is this nomination of bloom Raskin Does it have to be reconsidered or is there a path forward All the Democrats need is one Republican to stand with them and they can get to a four vote for the package of 5 nominees which includes the current Central Bank fed chair J Powell for a reappointment So far The White House is adamant They will keep these nominees as a package but senator Truman was saying today that he wants Sara bloom Raskin removed from that package right now No one is blinking Let's see if Chuck Schumer can rally just one Republican senator to help him get this across the floor vote He has indicated that they can work this out Tell us about some of the other concerns there has been a little bit of questions about Lisa cook too Well with Lisa cook the Republican criticism has been that she doesn't have monetary policy experience at her experience comes on racial diversity on inequality and the economy and matters that are not directly linked to monetary policy I think the point that progressives senator bright senator Brown who has been very vocal in support of Lisa cook have been saying is that there needs to be a broader swath of thought diversity of thought on the fed board but Republicans are pushing up against that saying that you can't just name someone to the fed who wants to.
"patrick toomey" Discussed on Bloomberg Radio New York
"A 3 a.m. in Hong Kong and here in Singapore I'm Juliet sali And I'm Doug Chris and her at the Bloomberg interactive broker studio in New York We've got an appetite for risk right now in Japan the nikkei is higher by 2% and similarly to what transpired in the U.S. session information technology is out in front of this advance pretty powerful move Brian Curtis will be by momentarily to break it down for us right now Few of the sours top is in stories Jules Well Republicans on the Senate banking committee have blocked votes on President Biden's 5 picks for the fed It's due to GOP opposition to the nomination of Sarah bloom Raskin as fed vice chair for supervision Senator Patrick toomey said ruskin had an adequately addressed questions regarding her role as a board member of her FinTech company Senator Bill haggerty offered a similar view There are more than 35 questions where her answers provided were blanket I do not recall or I'm not aware In response to questions on this So we have not gotten to the bottom of this and we need more information And until we do I'm not prepared to vote on her Today GOP members of the banking committee failed to attend the afternoon meeting preventing a quorum Senate banking chair sherrod Brown said he would reschedule votes on Raskin and the other fed nominees I'm looking at chairs of Airbnb right now higher by 4% in the late U.S. session The company reported quarterly revenue and profit after the bell These numbers were above estimates we have more from Bloomberg's Denise Pellegrini One standout in Airbnb's earnings a 59% year on year jump at nights and experiences booked in the quarter to almost 74 million bookings that was less than some analysts expected But the massive jump still shows bookings defied gravity even during the omicron search And the company expects revenue for this quarter that's higher than some estimates Airbnb also says it's now letting people search for listings up to a year in advance and CEO Brian chesky says he's spending several months working remotely from Airbnb rentals himself Denise Pellegrini Bloomberg day vacation Volatility is going to stay higher for longer this according to JPMorgan asset management's Gabriela Santos She also says investment managers will be pushed harder to outperform benchmarks and Santos says investing in China will give managers an edge So China is a really important piece of this puzzle because you can add alpha in Chinese markets and you can also improve the sharp ratio of a portfolio by adding Chinese onshore assets So both stocks and bonds we project it for China to have the highest returns over the next decade double for Chinese a shares versus the U.S. and double for Chinese local currency government bonds versus U.S. treasuries Santos also says she sees a market switch from beta to what she calls the dawn of alpha broadly speaking beta takes on the same risks as most investors and ends up getting similar returns Alpha on the other hand aims to beat the market and achieve access returns Santos says China would help get an investor to alpha Yeah we had the NASDAQ golden dragon index higher by 4.7% here in New York takes us to market action we're at 33 past the hour Cross to LA Brian Curtis is there Looks like the sands are shifting when it comes to the situation on the virus in Hong Kong wouldn't you say Well you had those comments from president Xi being reported by the media and it's really tricky to know exactly what he means It's not easy to interpret but as you often find out which Xi Jinping it's best to go with exactly what he says and not read too much into it And if he says that Hong Kong has to tackle COVID-19 that probably means that some lockdowns are coming Now with the Hong Kong government is saying so far is limited lockdowns they'll lock down a building in a heartbeat but they have not wanted to lock the whole place down But with these comments from president Xi and you've got a line from the South China morning post as well as one way Beau talking about how by any means Hong Kong has to tackle COVID so I don't know what that bodes for Hong Kong stocks today There's so many positives in the market today Doug I know you guys just played the comments there from Gabriela Santos about China shares and also we had the Airbnb beat He also had Marriott International having earnings at beat expectations very solid demand at least from Marriott's point of view for leisure travel that is helping with the hotel recovery We had Intel agreeing to buy tower semiconductor that's kind of a positive I suppose Kieran holdings though is selling a stake in a Chinese beverage venture to partner China resources We'll tell you more about that a little bit later And of course the big news was that Russia announced a partial pullback of troops And we've also been at pains to tell you this hasn't been confirmed yet but it seems to be a little bit of a deescalation And in fact we had comments from Russian president Vladimir Putin that he still wants to pursue diplomacy and so that is cheering markets on So here are some of the numbers that 1.9% We do have Hanks and index futures up 6 tenths of a percent China futures are higher as well It costs these rallied 1.3% and the a 6 200 is up about a third of 1% That's a check of markets and let's get it back over to Juliet Thank you Brian 36 minutes past the hour time for global news Russia's president Vladimir Putin says he would like a diplomatic solution to the Ukraine border standoff let's get to air backstory in San Francisco with the latest it Yeah thank you expanding.
"patrick toomey" Discussed on Bloomberg Radio New York
"Hong Kong and over a Singapore it is 6 30 p.m. on the Atlantic seaboard of the United States I'm Rashad salaman And I'm Brian Curtis trading is underway in Sydney and we do have a modest rally there with the a 6 200 up about a quarter of a percent We'll probably see it bouncing Hong Kong and China today We had the NASDAQ golden dragon index up 4.7% on Wall Street at normally augers pretty well for the start in Asia so we'll see we'll track the markets with Doug prisoner in a few moments But for now rich and I will take a look at the top stories Yeah having a look at Republicans in the Senate banking committee as they block votes on President Biden's 5 picks for the fed it's due to GOP opposition to the nomination of Sarah bloom Raskin as fed vice chair for supervision senator Patrick toomey saying that Raskin hadn't adequately addressed questions regarding her role as a board member of a FinTech company Senate minority leader Mitch McConnell urged President Biden to find a better more mainstream nominee More traveling still is President Biden's nominee to be to the extremely powerful position of vice chair for supervision This slot comes with major unilateral power But the president's nominee Sarah Blum ruskin has spent recent years pressuring the fed to stop being a neutral regulator and instead become an ideological left wing activist body Well earlier on GOP members of the banking committee failed to attend the afternoon meeting preventing a quorum Senate banking chair sherrod Brown said he would reschedule votes on Raskin and the other fed nominees The Paramount plus streaming service has top 32 million subscribers The media company appears to be benefiting from its investment in streaming Paramount generated $1.3 billion in streaming sales and that was up 48% from last year And Viacom CBS also announced its changing its name to Paramount Here's Bloomberg's Gita ranganathan I think it all comes down to where the content engines are and for them it's the Paramount TV studio as the Paramount film studio Those are the iconic properties for them And if you just kind of see it's right now it's just this content arms race in Hollywood and they know they've got some really valuable properties in those two studios and that's kind of driving the streaming service I think it kind of makes sense for them to really kind of have everything under the Paramount umbrella Viacom CBS now has 56 million subscribers across its services Let's have a look at shares of Airbnb They are up just shy of 4% in the late session that after the company came out with quarterly revenues that really beat estimates let's get over now to Bloomberg's Denny's Denise Pellegrini who has more One standout in Airbnb's earnings a 59% year on year jump in nights and experiences booked in the quarter to almost 74 million bookings that was less than some analysts expected But the massive jump still shows bookings defied gravity even during the omicron search And the company expects revenue for this quarter that's higher than some estimates Airbnb also says it's now letting people search for listings up to a year in advance and CEO Brian chesky says he's spending several months working remotely from Airbnb rentals himself Denise Pellegrini Bloomberg day vacation All right the time is 33 minutes past the hour Let's get a close up look at what's happening in financial markets Let's get over to Doug prisoner in New York Doug that's pretty amazing isn't it Viacom CBS becomes Paramount I think full circle doesn't it remind you of that It really does it takes us back to the Hollywood days and yeah you can't get away from Hollywood not at all Big hunger for risk assets here in the U.S. today given signs of reduced tensions over Ukraine will take a closer look at the many details on that story momentarily when Ed Baxter joins us with a look at global news Higher inflation and other trigger point for the market we had this reading on U.S. wholesale inflation hotter than forecasting In fact it was twice what the markets were looking for So we had to move up and yields across the curve ten year treasury above 2% now We were 2.04% trading will begin at the top of the hour in the Tokyo session for U.S. sovereign debt We'll also get Japanese equities moving and it looks like if you look at the Chicago niche futures contract we could see a big pop higher for the Japanese equity market We do have a weaker yen and that's going to be supportive right now trading around one 1565 Now even with the issue of higher rates we had a rally in U.S. equities particularly among information tech NASDAQ composite today climbing two and a half percent in the broader market the S&P higher by 1.6% the Dow pops about 1.2% And Brian alluded to this rally that we had in Chinese ADRs here in the New York session The NASDAQ golden dragon index with a gain of about 4.7% If there was weakness you have to go no further than the energy complex with a sharp pullback in crude oil today WTI down 3.6% right now we're trading 92 45 in the electronic session Right now in the early going in Sydney we've got the ASX 200 better by about four tenths of 1% Thailand on holiday today and later in China will get the numbers on inflation for the month of January We'll take another look at market action about 15 minutes from now Rish 25 minutes to the top of the hour.
"patrick toomey" Discussed on Bloomberg Radio New York
"Had to get there pretty good games there and as they got performing having a look at what was really dictating the price action let's get it over and out of Bloomberg's Doug Kris and I don't Guess you could call it a sigh of relief given signs of reduced tensions over Ukraine It's our top story we're going to be taking a closer look at that momentarily The other trigger point higher inflation we had this reading on U.S. wholesale inflation that was above forecast actually twice what the market was expecting So not surprisingly you're going to see a move up in long-term interest rates It's a ten year treasury now at 2.04% That two year hovering around one 57 will get trading in U.S. sovereign debt at the top of the hour in the Tokyo session gets underway Now even with those higher rates we had the equity market rallying and information tech out in front of that advance you write rich S&P 500 today up about 1.6% but the NASDAQ comp rallying two and a half percent the Russell 2000 today up by about 2.8% where the Tao was concerned we were up about 1.2% A lot of weakness in the energy complex given a sharp pullback in the price of crude oil That's again all about Ukraine WTI in New York down 3.6% right now we're trading 92 30 in the electronic session Also a pull pulled back I should say in some of those havens like the Japanese yen a little weaker here at one 1563 In the early going in Sydney we've got the ASX 200 higher by three tenths of 1% More on markets in 15 minutes Brian All right to the politics now Thanks very much Doug Republicans on the Senate banking committee are blocking votes on President Biden's 5 picks for the fed it stems from GOP opposition to the nomination of Sarah bloom Raskin has fed vice chair for supervision Senator Patrick toomey said that Raskin had not adequately addressed questions with regard to her role as a board member of a FinTech company And he and other GOP senators have blasted Raskin's past comments calling on the fed to do more to address climate change Today GOP members of the banking committee failed to attend an afternoon meeting and thus prevented a quorum Senate banking chair sherrod Brown sounded off on the move My Republican colleagues claim it's because they haven't gotten the information they've requested from one of the nominees Let me be clear miss broome Raskin has been the subject of unrelenting smear campaign in fearmongering by the ranking member and Republicans something that's become all too common Brown said that he would reschedule votes on Raskin and on the other fed nominees The Senate banking committee is considering as well the nominations of J Powell Leo brainard Lisa Cooke and Philip Jefferson Right let's turn to the economic front and have a look at what we got from China because we do get numbers on inflation for January retail inflation expected to slow down mostly down to declines in food prices Economists have advised that Bloomberg expecting the consumer price index to rise one point 1% exactly year on year and that would compare with the one and a half percent gain that was witnessing December On the wholesale level China's a factory gate prices are likely also seen some cooling there as well given the lower commodity prices out there economists looking for a 9 and a half percent rise in the PPI from a year ago and that would be a near 1% drop from December that data to you 8 30 p.m. Wall Street time 9 30 a.m. here in Hong Kong old Beijing All right 5 minutes past the hour It's time for global news Russia says it has pulled back some of its troops from the Ukraine border but the U.S. and the west say that they haven't seen any evidence of this yet at Baxter has.
"patrick toomey" Discussed on WBEZ Chicago
"You're being watched and recorded over the last two decades. Mass surveillance in the U. S has become almost a way of life. So how did 9 11 changed? How we balance safety and privacy today? And what lessons have we learned from the last 20 years? Joining me now is Patrick Toomey, senior staff attorney with the American Civil Liberties Union. Hi, Patrick. Welcome to the show. Hi. It's great to be on Also with us is Sharon Bradford Franklin. She's the co director of the Security and surveillance project at the Center for Democracy and Technology. That's a nonprofit that's based in Washington. Hi, Sharon. Thanks for being here. Thank you for having me. I'll turn to you first. Sharon, when we talk about surveillance, what are we talking about here? What's the scope of it? So when you talk about mass surveillance, we are generally distinguishing that from targeted surveillance, which is where the government has met a certain standard, leading them to appropriately focused on particular targets, such as having probable cause. To believe that a person has committed or is committing a crime. Um, but unfortunately that surveillance is not always targeted, and and then it can involve scooping up a large amount of information about people where they're not suspected of any wrongdoing or connection to wrongdoing. So are we talking about monitoring email, Social media post wiretaps. All of the above. All of the above. I mean, it's important to clarify that in recent years Congress has made clear that Folks surveillance or non targeted surveillance of Americans. Information is no longer permitted. But the intelligence agencies still claim the authority to conduct surveillance of information when it's directed at non Americans overseas, and if Americans are in communication with those people, their information can be collected as well. Patrick, when you look back 20 years ago. How do you think 9 11 changed how we approach surveillance? After 9 11 Congress rushed to pass the Patriot Act. And that really ushered in a new era of mass surveillance. Over the next decade, the surveillance state expanded dramatically, often in secret. Bush administration conducted warrantless, not surveillance programs in violation of the Constitution and our laws. And the Obama administration allowed many of these spying programmes to continue and grow. So I think in that period, especially the decade after 9 11, the story is really one about checks and balances. Failing. Who's most impacted here who's been the most impacted by the expansion of government surveillance. When when it comes to mass surveillance, really everyone's affected. One of the revelations that came out of the Snowden disclosures in 2013 look at the date for years have been Collecting in bulk, uh, the phone records of virtually every American and I think one of the one of the lessons that has come out of those revelations and what we've learned in the years since its How revealing and powerful even the government's collection of Information like metadata like who is who called whom, For? How long and when? How invasive. That type of information can be in the hands of the government exposing our association. Exposing sensitive medical information information about political and religious affiliations. And That that really affects everyone, But there's It's also certainly the case that uh many communities of color have been dramatically affected by surveillance and the actions of the government takes On the basis of its surveillance. Injecting people too. Also rest to further searches and scrutiny to, um you know, choosing who to stop at the airport. And so the effects of this surveillance are not shut the privacy invasions but all the intrusions that flow from it. Sharon remind us about the U. S Patriot Act and other surveillance and counter terrorism laws passed during the Bush administration. Sure. So, as Patrick already noted, shortly after six weeks after the September 11th terrorist attacks, Congress passed the Patriot Act, which vastly expanded the government. Statutory authorities took conducts surveillance. But the Bush administration also secretly claimed inherent executive authority to conduct even more extensive surveillance without any warrants or court orders or, in many cases to conduct. Uh, both rebels without having specific targets. And, um the public gradually learned about some of these acts, secret activities. So in 2000 and five we learned through news reporting about one program for warrantless surveillance of emails and phone calls. That the then Bush administration was conducting based on this claim inherent presidential authority. But after that disclosure, Congress ultimately passed the five amendments Act of 2000 and eight to codify that program in what became section 702 of FIEs us. So That authority doesn't permit the government to directly target Americans. But section 702 surveillance is ongoing and a clear area of expanded government authority. Sharon. There was a lot of rhetoric in the early years after 9 11, particularly from supporters of mass surveillance, some said. Well, if you've got nothing to hide, you have nothing to worry about. How effective was that in gaining public support and political support. Well for a long time. I think there was a lot of public support for that. It's very hard politically to be opposed to measure that's supposed to protect us from terrorism. But over the years as we've learned more and more about the extent and nature of government surveillance and intelligence practices, Americans understand more about the extent to which the information may be subject to collection. And we've also had public reports, including Inspector general reviews showing how legal authorities can be abused. So I think now, and we've had a recent poll just out from The Associated Press showing that Americans are much more concerned now about the extent of surveillance and no longer as supportive as they were. You're listening to reset. I'm Sasha and Simon's and we are talking about how the events of 9 11 shaped reshaped government surveillance and privacy here in the U. S with us to discuss our Patrick Toomey with the L. You and Sharon Franklin. With the center for Democracy and Technology coming up in about 10 minutes, wondering how to talk about 9 11 with your kids. We're going to get some tips on navigating those conversations. So stay with us for that Now, before I come back to you, Patrick, let's take a couple of calls all this hour. We've also been taking your calls on how 9 11 and its aftermath has affected you. First up. Let's go to Amy, who's waiting on the line in Irving Park. Hi,.
"patrick toomey" Discussed on WBZ NewsRadio 1030
"In ABC News passenger problems on board a flight this weekend, police say an unruly passenger assaulted Ah, flight attendant. This happened at a Delta flight coming into Boston from Atlanta on Sunday at happened while the plane was on route, so the FBI Has the jurisdiction and is now conducting the investigation. Police and medical personnel were there as the plane touched down at slogan A royal Sit down is coming with Oprah and this famous couple on the heels of Prince Harry and wife Meghan, announcing they're expecting his second child, CBS says announced that Oprah Winfrey will sit down with the pair for a prime time special next month. CBS says it will cover everything with Meghan Markle from stepping into life as a royal marriage, motherhood, philanthropy and, more later, Oprah and Meghan will be joined by Prince Harry as they speak about their recent move to the U. S and their future hopes and dreams. The 90 minutes Special air on CBS on Sunday March 7th. Back Piper CBS News 9 47 clouds, rain and fog here in Boston 36 degrees The impeachment trial of former President Trump may be in the books. But many lawmakers say the task of uncovering all of the facts from the day of the U. S Capitol attack has only just begun. In the letter trails. Democrat Speaker Nancy Pelosi says Congress will establish a 9 11 style commission to review the facts and causes that lead to the January 6th Capitol attack. She says The outside panel should also examine the response from law enforcement, including Capitol police, and the speaker says additional funding is warranted for the safety of lawmakers and the capital. Nicole Gillian CBS NEWS Capitol Hill, More than half of all Americans say former president Trump should have been convicted of inciting an insurrection on the U. S. Capitol. The ABC News poll finds 58% in favor of a guilty verdict. Senator Patrick Toomey could soon face censure by the Republican Party in Pennsylvania for voting to convict the former president in North Carolina Senator Richard Burr has been censured by his state's Republican Party for his impeachment vote, as well with some Republicans voting to impeach the former president. The party is being ripped apart, and CBS news correspondent Steve Futterman is looking at what it's going to take to find solidarity within the GOP. When this vote was cast to Romney, Mr Romney guilty, it put Utah's Mitt Romney in the crosshairs of Trump supporters. Now some GOP members in Utah want to censure Romney, other GOP senators who voted to convict Have already been centered in their states. As for former President Trump, some Republicans want to move past him. Others like Lindsey Graham, the Trump movement is alive and well seem to think it's still Mr Trump's party. Steve Futterman, CBS News supporters of former President Trump gather for a president's Day rally in West Palm Beach. CBS is help Healthy, says an unexpected visit was the highlight of their.
"patrick toomey" Discussed on WBZ NewsRadio 1030
"ABC News Flying the less than friendly skies, Police say an unruly passenger assaulted a flight attendant on a Delta flight headed from Atlanta to Boston over the long holiday weekend. It happened while the plane was in flight, so the FBI has jurisdiction and is conducting this investigation. Police and medical personnel were there as the plane landed the impeachment trial of former President Trump maybe in the history books. But many lawmakers say the task of uncovering all of the facts from the day of the Capitol attack has only just begun In the letter TALES. Democrats Speaker Nancy Pelosi says Congress will establish a 9 11 style commission to review the facts and causes that lead to the January 6th Capitol attack. She says The outside panel should also examine the response from law enforcement, including Capitol police, and the speaker says additional funding is warranted for the safety of lawmakers and the capital. Nicole Gillian CBS NEWS Capitol Hill New survey finds More than Half of all Americans say former President Trump should have been convicted of inciting an insurrection on the U. S. Capitol. The ABC News poll finds 58% in favor of a guilty verdict. Senator Patrick Toomey could soon face center by the Republican Party in Pennsylvania for voting to convict the former president. North Carolina Senator Richard Burr has already been censured by his state's Republican Party for his impeachment vote as well. And former Georgia Senator David Perdue is going to run again, this time for the state's other Senate seat produce as he will challenge freshman Senator Reverend Raphael Warnock next year. And with some Republicans voting to impeach the former president, CBS News correspondent Steve Futterman is looking at what it's going to take to find the solidarity again within the GOP when this vote was cast, Mr Romney, Mr Romney Guilty. It puts you transmit Romney in the crosshairs of Trump supporters. Now some GOP members in Utah want to censure Romney. Other GOP senators who voted to convict have already been centered in their states. As for former President Trump, some Republicans want to move past him. Others like Lindsey Graham, the Trump movement is alive and well seem to think it's still Mr Trump's party. Steve Futterman, CBS News supporters of former President Trump gathered for a president's Day rally in West Palm Beach. Florida. CBS is Al Pell Fee says an unexpected visit turned out to be the highlight for them, where.
"patrick toomey" Discussed on WBZ NewsRadio 1030
"In ABC News the impeachment trial of former President Trump maybe in the history books. But many lawmakers say the task of uncovering all of the facts from the day of the U. S Capitol attack has only just begun letter trails. Democrat Speaker Nancy Pelosi says Congress will establish a 9 11 style commission to review the facts and causes that lead to the January 6th Capitol attack. She says The outside panel should also examine the response from law enforcement, including Capitol police, and the speaker says additional funding is warranted for the safety of lawmakers and the capital. Nicole Gillian CBS NEWS Capitol Hill, More than half of all Americans say the former president should have been convicted of inciting an insurrection of the U. S. Capitol. The new ABC News poll finds 58% are in favor. Of a guilty verdict. Senator Patrick Toomey could soon face censure by the Republican Party in Pennsylvania for voting to convict the former president. North Carolina Senator Richard Burr has been censured by his state's Republican Party for his impeachment vote as well and with some Republicans voting to impeach the former president, CBS News correspondent Steve Futterman. Is looking at what it will take to find solidarity again within the GOP. When this vote was cast to Romney, Mr Romney guilty, it puts Utah's Mitt Romney in the crosshairs of Trump supporters. Now some GOP members in Utah want to censure Romney. Other GOP senators who voted to convict have already been centered in their states. As for former President Trump Some Republicans want to move past him. Others like Lindsey Graham, the Trump movement is alive and well seem to think it's still Mr Trump's party. Steve Futterman. CBS News. Meantime, supporters of the former president gather for a president's Day rally in West Palm Beach, Florida. CBS Is Al Healthy, says an unexpected visit was the highlight of the day.
"patrick toomey" Discussed on WBZ NewsRadio 1030
"Launched a rocket attack outside and international airport in Iraq. Latest now from CBS News correspondent Major Garrett. Several rockets were fired on Erbil, where some U. S forces are stationed. US service member and several American contractors were hurt. Ah foreign civilian contractor was killed. It is not clear who fired the rocket rocket attacks have frequently targeted the U. S presence. In Iraq trying to help out in Milford after the tradesmen pub burn down over the weekend to go fund me page is now exceeded $25,000. And there's lots of small help coming in the biggest donation just 1000 bucks. The place burned down on Saturday, forcing a dozen customers and other employees to run for their lives. 6 19, and it is above freezing now in Boston, just barely. But again that makes all the difference in the world. It is raining now, and all of the Isis now melted away. We're still dealing with slick conditions North and west of 4 95 this morning. True colors on display. WBC Suzanne Sauce Ville has more on a show of pride in Weymouth and Marie Reardon and her husband, Michael Jaworski, have a vision. Hundreds of rainbow pride flags displayed all over Weymouth during Pride Month in June, who tried to promote both understanding and awareness and support for the LGBT Cube community within win, and they're not alone. He got the idea from neighboring kingdom and say other towns on the South Shore are creating their own pride projects were hoping to change opinions, change attitudes change behavior so that people can be treated the same as anyone else. The project is just getting off the ground and over the next few months will be reaching out to local businesses to help raise money for all those flags. Suzanne Saz Ville WBZ Boston's news radio Senator Patrick Toomey could soon face censure by the Republican Party in Pennsylvania for voting to convict the former president. The head of the GOP tells a Pittsburgh radio station to me is not in Washington to quote do the right thing. Instead, he's there to represent Pennsylvanians. North Carolina Senator Richard Burr has been censured by his state's Republican Party for his impeachment vote. The senator is expected to retire after his third term on Capitol Hill is up, and former Georgia Senator David Perdue is going to run again. This time for the other Georgia Senate seat produce, says he will challenge freshman Senator Reverend Raphael Warnock in an election race next year. Note of caution for cheese lovers. The warning is about soft Mexican style cheeses sold in the U. S. The CDC says the listeria outbreak in four states has been linked to case so fresco. Okay, so Blanco And case open. Ella it is not brand specific. So far, there's no recall, but at least seven people have gotten sick. The CDC recommends pregnant women, anyone 65 or older or people with weakened immune systems, not eat the cheese. Deborah Rodriguez, CBS News looking.
"patrick toomey" Discussed on WCBM 680 AM
"Good faith approaching this. Would have to look at what happened with Democrats this time around as an extension. Of what they had already tried, which was the destruction of a presidency based on a phone call that led to nothing that broke no laws that did nothing. And if anything we know now was even more correct than we had initially. Anticipated. Some troubling things, though this is not over. I don't just mean the battle for The future of his country. I don't just mean Some of these specific Something specific constitutional issues in the way the Democrats are abusing them. I mean, It's not over, uh, for Donald Trump, either. In good ways and in bad ways. They have not given up on this yet. Mitch McConnell, who clearly despises Donald Trump. And is in many ways that the single biggest example of the establishment Uh, you know, establishment Republican. I mean, I would say right now, but guys, you know on the judges, he does some things. Well, I know right Right now, The most popular thing to say would be Mitch McConnell is awful on everything. He's bad on Trump. He's good on judges. Credit where it's due. Keep it real, even when I know some people gonna win, so I know I wins, too. But Mitch McConnell's not awful on everything. He's just not cocaine. Mitch did some good things. He hates Trump. And some people lost their patients with Trump because the guys Decision making, particularly about personnel. I mean, he says he hires the best people that's actually untrue. Now we can all say it right now. We're all family and listening to all across the country. Trump hires the worst people. Generally speaking, Trump has some of the worst instincts for who to put in positions of authority and power around him of any human being I've ever seen in my entire life, just the fact it's just obvious. But was he a fighter? Did he do a lot for the country just by exposing the crazy left? Was his presidency up until Cove ID a resounding success. And if he answers to all of that, or yes, Mitch McConnell, still very upset here is played 20. Or President Trump's actions preceded the riot or a disgraceful, disgraceful dereliction of duty. There's no question done their president Trump is practically and morally responsible for provoking the events of a day. No question about it. People to storm this building believed they were acting on the wishes and instructions of their president. And having that belief was a foreseeable consequence of the growing crescendo of false statements, conspiracy theories and reckless hyperbole, which the defeated president kept shouting into the largest megaphone. On planet Earth. He didn't take steps so federal law could be faithfully executed and order restored. No. Instead. According to public reports, You watch television happily happily. If President Trump were still in office, I would have carefully considered whether the House managers proved their specific charge. But in this case, the question is moot because former president Trump Trump Is constitutionally not eligible for conviction. So, Mitch phone back here on the process Argument. Which many were making all along. I also think the Democrats overreached. I really mean this. I mean, I mean everything I say, but this in particular Deserves emphasis that going for the incitement insurrection charge was Too far. But they did that for a reason, which I'll get you in a moment. Why were they overreaching and they had to know it at some level. But this is about more than trump. Why I'm still talking about this. This isn't over and I'll explain why But we had Cassidy Murkowski here. The people have voted for Her conviction. The Senate Susan Collins of Maine, Ben Sasse, of course of Nebraska, Richard Burr of North Carolina, Patrick Toomey of Pennsylvania. Murkowski of Alaska. Mitt Romney of Utah. I think I think I got him. So there you go. Seven of them voted to convict the president. Percent prevent him from running again. Um They're not done chasing Trump. You have to remember that even if he doesn't plan on running They went for the incitement to insurrection charge for a very specific reason. And it's to create a perception that we are all part of that. Anybody who supports Trump he's tainted by this effort at insurrection. That's really the bottom line here. That's actually what we see. That's why they went for that charge. Because it stays even after this trial is over. It's now a slander. It's it's a phrase that they will deploy against Trump supporters. And against the president himself. They've already brought up the possibility of a criminal trial for Donald Trump, now as a private citizen, which No, they'd love to do that. But it would be laughable in terms of how unlikely they were to get a conviction, a criminal trial and there's also the possibility that they would have a Civil suit against him. They want to continue this. And then there's the talk of a 9 11 style commission. Or maybe even a truth commission. Let's talk about what that will look like. Have you ever wanted to invest in real estate, But you don't have the time to do it. Look, I felt that way because until about a year ago, I always love the idea of real estate investment. But I didn't know how to invest in real estate while staying committed in my profession. Do five hours of original programming every day and conservative media How am I going to be good at investing in.
"patrick toomey" Discussed on KIRO Radio 97.3 FM
"Here, but He wasn't peace when he when he was president. It's number one. All right Number two. It is on record that Mitch McConnell refused to reconvene the Senate before January 19th so that the trumps impeachment trial could begin and we know the delay that happened with that. So in watching this, here's what? I'm my Amazon, Magda said. I'm not a lawyer. Anything like that. What? I'm troubled, and I really don't understand the Trump's team strategy in regards to trying to use that argument. When the best argument that I actually believe that they have. I truly believe that they have an argument. With the words that Trump used that day. How many times he used the word fight? And if he himself with his words incited the violence that happened on January 6th Ursula, That would be the argument, So that's the part that I don't understand when it comes to this, but neither here or there We are now going forward with the trial again. Like I told you before. I do not believe that Trump will be convicted of this. I don't think that, however, I do like to see the accountability I do like to see that 44 Republicans. 44 said. No, you know what? This isn't constitutional. You know what? Technically, you can't for If a president Ursula commits a crime, A sitting president commits a crime. He cannot be held responsible for that. So it's just unbelievable Your thoughts on what happened yesterday. So I want to say kudos to Bill Cassidy. And the five other so the six total Republicans, the reality is no matter how incriminating Yesterday's video Woz or the new video that we're gonna be seeing today or how damning today's opening statements are There's zero chance that 17 Republicans, they're going to join the Democrats to reach that two thirds threshold. No. So I want to give kudos to Bill Cassidy, who said, You know what? It's my responsible to walk in here and have an open mind and untrue and he'd really did. I mean, the others. Air Susan Collins of Maine, Lisa Murkowski of Alaska. I mean, these names that keep coming up Mitt Romney, Ben Sasse and Patrick Toomey of Pennsylvania. And I appreciate that They had the courage they don't care that it could mean that they don't get re elected. Yeah. My man Cassidy from from down there and Louisiana, her slip. He's at the very beginning of hiss. So he's got another six years. So I wonder if that was kind of his angle, But I wanna I wanna ask you I have a little bit of pushback on Cassidy. Just a little bit, huh? Hi..