1 00:00:23,000 --> 00:00:26,480 Speaker 1: And hello, how are you welcome to the Big Podcast 2 00:00:27,160 --> 00:00:32,000 on this Wednesday, the twenty ninth day of April, year 3 00:00:32,159 --> 00:00:35,960 of Our Lord, twenty twenty six. My name is Tom Sullivan. 4 00:00:36,280 --> 00:00:42,479 And well, we have a lot of big personalities that 5 00:00:42,640 --> 00:00:48,679 are making headlines today. One of them is follow up 6 00:00:48,719 --> 00:00:54,799 more or follow up to Jimmy Kimmel and his situation. 7 00:00:55,439 --> 00:00:59,600 We've got James Comy. We told you yesterday, just before 8 00:00:59,679 --> 00:01:02,920 the we've finished recording yesterday that James Comy was being 9 00:01:03,640 --> 00:01:07,000 indicted and was going to be arrested. The Grand Jury 10 00:01:08,120 --> 00:01:11,000 has issued an arrest warrant, so he's back in the 11 00:01:11,040 --> 00:01:14,640 news today. And then today was supposed to be the 12 00:01:14,760 --> 00:01:20,519 last meeting of the FED having Jay Powell as the chairman. Well, 13 00:01:20,560 --> 00:01:23,879 I think that's going to remain, but there's news about 14 00:01:23,959 --> 00:01:26,959 Jay Powell. He's kind of sticking it in Trump's eye 15 00:01:27,480 --> 00:01:31,719 a little bit. So where do you want to start today? 16 00:01:31,799 --> 00:01:35,239 Let's just start with Kimmel. Let's follow up on Kimmel 17 00:01:35,359 --> 00:01:40,840 because I'm in the school. What bothers me is I 18 00:01:40,840 --> 00:01:44,959 don't like big government, and I don't like big government 19 00:01:45,760 --> 00:01:50,840 throwing their weight around, and I feel like that is 20 00:01:50,959 --> 00:01:55,400 what Brendan Carr the head of the Federal Communication Commission. 21 00:01:56,079 --> 00:02:02,200 Don't these people know about the first The first number 22 00:02:02,319 --> 00:02:06,159 in the bill wrights is free speech, yes, and so 23 00:02:06,799 --> 00:02:09,240 it's not only free speech, but it's also just the 24 00:02:09,360 --> 00:02:13,280 big boot of government stepping on anybody. I don't have 25 00:02:13,400 --> 00:02:16,120 to like. I don't care for Jimmy Kim. I don't 26 00:02:16,159 --> 00:02:19,199 know the man. All I know. I don't watch his show. 27 00:02:19,879 --> 00:02:23,199 Not many people do. His readings are terrible. But the 28 00:02:23,280 --> 00:02:27,159 more you insist that you fire somebody. And now Brendan 29 00:02:27,199 --> 00:02:30,960 Carr is going to go after all the licenses of ABC, 30 00:02:31,919 --> 00:02:34,840 and I'm going that's just the big voodhoo government throwing 31 00:02:34,879 --> 00:02:38,280 their weight around, there being big bullies, and I don't 32 00:02:38,360 --> 00:02:45,080 like it. I just don't. So a funny thing happening. 33 00:02:45,240 --> 00:02:48,039 Kimmel apparently played it on his show last night. Yesterday, 34 00:02:48,840 --> 00:02:52,759 with the King of England at the White House, the 35 00:02:52,800 --> 00:02:56,919 President was addressing the people on the South lawn to 36 00:02:56,960 --> 00:03:01,439 the White House, the King and the Queen consort and 37 00:03:01,520 --> 00:03:04,639 the assorted crowd that was there, and he brought up 38 00:03:04,680 --> 00:03:08,800 a story about the fact that he probably wasn't going 39 00:03:08,840 --> 00:03:12,000 to be able to live as long as the Queen 40 00:03:12,039 --> 00:03:17,639 of England and Prince Philip being married for a long Well, 41 00:03:17,680 --> 00:03:20,680 let me let the president tell the story. And then 42 00:03:20,719 --> 00:03:21,280 the reaction. 43 00:03:22,719 --> 00:03:28,919 Speaker 2: They were married for sixty three years, and excuse me 44 00:03:28,960 --> 00:03:32,039 if you don't mind, that's a record. We won't be 45 00:03:32,080 --> 00:03:35,120 able to match, Darling. I'm sorry, just not going to 46 00:03:35,199 --> 00:03:37,639 work out that way. We'll do well, but we're not 47 00:03:37,680 --> 00:03:41,039 going to do that well sixty three years. 48 00:03:41,560 --> 00:03:44,400 Speaker 1: Oh, it was funny. He turned to malowneys that we're 49 00:03:44,400 --> 00:03:46,800 not going to be able to be married sixty three years. 50 00:03:47,479 --> 00:03:51,280 And it brought up the fact that there is a 51 00:03:51,599 --> 00:03:56,360 twenty some year twenty four years I think, yeah, twenty 52 00:03:56,360 --> 00:04:00,400 four year age gap, and that he's going to be 53 00:04:00,439 --> 00:04:03,479 eighty here in just a couple of weeks. So he 54 00:04:03,520 --> 00:04:10,000 brought up all of our eventual demises and made it 55 00:04:10,120 --> 00:04:13,639 kind of funny. Well, Kimble picked up on it quickly. 56 00:04:14,159 --> 00:04:17,639 Speaker 3: Wait a minute, did he just make a joke about 57 00:04:17,680 --> 00:04:25,680 his death? You should be fired for that. 58 00:04:28,120 --> 00:04:31,519 Speaker 2: Only Donald Trump would demand I'd be fired for making 59 00:04:31,560 --> 00:04:33,079 a joke about his old age. 60 00:04:33,079 --> 00:04:34,959 Speaker 4: And then a day later go out and make a 61 00:04:35,040 --> 00:04:38,959 joke about his own old day. 62 00:04:39,199 --> 00:04:42,639 Speaker 1: Well, whatever you think about Donald Trump or Jimmy Kimmel, 63 00:04:43,319 --> 00:04:47,480 I thought that was the time, he was impeccable in 64 00:04:47,560 --> 00:04:52,240 any case. David Urban, who's a strategist on the Republican 65 00:04:52,360 --> 00:04:55,439 side of the aisle, weighed in on this whole controversy. 66 00:04:55,879 --> 00:04:59,519 Speaker 5: Yeah, look, I agree with Senator Cruz as despicable as 67 00:04:59,519 --> 00:05:01,959 I find this stuff, right, I mean, I'm not quite 68 00:05:02,040 --> 00:05:06,920 sure who finds people's deaths humorous or like widow jokes humorous. 69 00:05:06,920 --> 00:05:10,160 It's it's just it's in bad taste and just and 70 00:05:10,279 --> 00:05:14,120 just dumb. It's not funny. But I don't want the left. 71 00:05:14,160 --> 00:05:17,079 I don't want the Biden administration or some future Democratic 72 00:05:17,120 --> 00:05:21,560 administration policing speech on the right that they might find reprehensible. 73 00:05:21,959 --> 00:05:25,120 And I don't want the right to police speech that 74 00:05:25,199 --> 00:05:28,199 they find reprehensible on the left. There's loocause. You know, 75 00:05:28,680 --> 00:05:31,360 anyone who's been to law school, first year law student 76 00:05:31,360 --> 00:05:34,560 knows there's a difference between you know, there's certain things 77 00:05:34,639 --> 00:05:36,040 you can do and certain things you can't do. 78 00:05:36,160 --> 00:05:36,279 Speaker 6: Right. 79 00:05:36,319 --> 00:05:39,120 Speaker 5: You can't go into crowded movie theater and yell fire. 80 00:05:39,279 --> 00:05:42,600 There's certain things that account classifies hate speech. But just 81 00:05:42,600 --> 00:05:47,079 because it's disgusting speech doesn't mean that you can't still 82 00:05:47,720 --> 00:05:52,240 say it. It's reprehensible it's dumb, Jimmy Kimmel's not funny, 83 00:05:52,759 --> 00:05:55,079 but it shouldn't be prohibited by the FCC. 84 00:05:55,240 --> 00:05:57,199 Speaker 1: And he made two really good points. One of them 85 00:05:57,279 --> 00:05:59,279 was there was a tweak that Ted Cruz put out. 86 00:05:59,519 --> 00:06:02,680 And he's a big constitutional guy, and he basically is 87 00:06:02,720 --> 00:06:06,680 saying that he was upset about the fact that the 88 00:06:06,720 --> 00:06:09,519 government is trying to stick their nose into what a 89 00:06:09,560 --> 00:06:13,759 comedian can say and cannot say. I'm with Ted Cruz 90 00:06:13,800 --> 00:06:16,720 on that. And then the second point he made was 91 00:06:17,439 --> 00:06:19,680 we're going to get into this tit for tat stuff 92 00:06:19,800 --> 00:06:23,240 back and forth. Well, the previous administration they did this 93 00:06:23,319 --> 00:06:25,040 to me, so I'm going to do this to them, 94 00:06:25,079 --> 00:06:27,399 and we're going to get back to where someday a 95 00:06:27,439 --> 00:06:30,759 Democrat will be elected president. And do you want them 96 00:06:30,800 --> 00:06:36,560 to come after your favorite conservative comedians. I don't. And 97 00:06:36,959 --> 00:06:41,680 besides that, we all have biases, every one of us. 98 00:06:42,480 --> 00:06:47,040 And I don't want the Federal Communication Commission to go 99 00:06:47,079 --> 00:06:49,079 in and tell Fox News that they have to be 100 00:06:49,199 --> 00:06:54,600 more liberal, nor do I want them to tell whatever 101 00:06:54,600 --> 00:06:57,279 they're called now MS now. I don't want them to 102 00:06:57,279 --> 00:07:00,040 tell them that they have to be more conservative. Do 103 00:07:00,079 --> 00:07:05,920 you decide by by your choices of turning on the 104 00:07:05,959 --> 00:07:09,519 television or turning on the radio, turning on the internet, 105 00:07:09,600 --> 00:07:13,120 and finding out what you want to listen to. That's 106 00:07:13,879 --> 00:07:16,839 more important than anything. So I told you the other 107 00:07:17,160 --> 00:07:22,560 personality today was James Comy. So yesterday we found out 108 00:07:22,639 --> 00:07:25,399 late in the day that there was a two count 109 00:07:25,439 --> 00:07:30,839 indictment on James Comy. Came from Grand Jury in North Carolina. 110 00:07:31,240 --> 00:07:35,439 The first of the felony counts, first of two, threatening 111 00:07:35,560 --> 00:07:40,439 the president of the United States and the second one 112 00:07:40,480 --> 00:07:46,199 transmitting a threat in interstate commerce. And they're related to 113 00:07:46,399 --> 00:07:51,240 the twenty twenty five Instagram photo of seashells that James 114 00:07:51,279 --> 00:07:53,680 Comy said he found on the beach arranged to say 115 00:07:54,240 --> 00:08:00,000 eighty six forty seven again, account one threatening the press 116 00:08:00,160 --> 00:08:02,680 an end of the United States and count two transmitting 117 00:08:02,759 --> 00:08:06,560 a threat in interstate commerce. All right, let's a lot 118 00:08:06,560 --> 00:08:09,680 of people have a variety of things to say about this. 119 00:08:09,800 --> 00:08:12,439 Let's start. Let's go back to David Urban find out 120 00:08:12,480 --> 00:08:13,720 what his take is on this. 121 00:08:14,879 --> 00:08:17,959 Speaker 5: Yeah, so listen. Jim Comby's another gentleman you'll find I 122 00:08:18,000 --> 00:08:22,040 think is incredibly reprehensible. He's a smart man. For him 123 00:08:22,079 --> 00:08:24,959 to say, oh, I didn't realize that forty six eighty 124 00:08:25,000 --> 00:08:28,879 seven might have excuse me, eighty six forty seven might 125 00:08:28,920 --> 00:08:34,080 have some negative connotations to it. Jim Comey is again 126 00:08:34,360 --> 00:08:40,279 similarly reprehensible, terrible, not funny. You don't joke about people's death. 127 00:08:40,639 --> 00:08:43,200 He's a very smart man. He knew exactly what he 128 00:08:43,279 --> 00:08:46,799 was doing. You know, you probably get these over, you know, 129 00:08:47,120 --> 00:08:52,080 emails and things. I get numerous numerous emails that skirt 130 00:08:52,120 --> 00:08:55,200 the border of threatening my life, that say, I hope 131 00:08:55,240 --> 00:08:58,240 you die a slow death, David Urban, I hope your 132 00:08:58,320 --> 00:09:01,799 family suffers. Know what they're doing. They don't cross the line. 133 00:09:01,799 --> 00:09:04,000 I do get some that say I'm gonna hunt you 134 00:09:04,039 --> 00:09:05,840 down and kill you, and those go to the FBI 135 00:09:05,919 --> 00:09:08,360 to be followed up. People are smart, they know what 136 00:09:08,399 --> 00:09:10,840 they can do and what's up, just up against the 137 00:09:10,879 --> 00:09:14,639 line of acceptable and not criminal. Jim Comey is in 138 00:09:14,639 --> 00:09:17,639 that camp of being reprehensible, going up to the line 139 00:09:17,639 --> 00:09:20,919 knowing what's it. Doesn't cross over the line. It doesn't 140 00:09:20,919 --> 00:09:23,879 mean it shouldn't be condemned. Doesn't mean Jimmy Kimmel shouldn't 141 00:09:23,879 --> 00:09:27,240 be condemned. But should it be prosecuted. No, I don't 142 00:09:27,279 --> 00:09:29,600 think it should be. It should be condemned wily by you, 143 00:09:29,720 --> 00:09:32,440 myself and others just like you know, back think about 144 00:09:32,519 --> 00:09:35,320 poor this all started to think. Remember when Sara Huckabee 145 00:09:35,320 --> 00:09:39,480 Sanders got shadowed out of the restaurant in suburban Virginia 146 00:09:39,519 --> 00:09:43,000 and then Maxine Waters said, wherever you see Trump people 147 00:09:43,080 --> 00:09:45,480 go up in former crowd, don't let them out, shout 148 00:09:45,519 --> 00:09:48,759 them out, scare them out. I mean, that's not acceptable. 149 00:09:48,799 --> 00:09:51,360 We shouldn't be doing that. There's a new GOV pull 150 00:09:51,399 --> 00:09:55,799 out recently early last year that says that under forty 151 00:09:55,840 --> 00:09:57,720 five year olds told me to finish forty five year 152 00:09:57,759 --> 00:10:00,159 olds and under on the left think that about twenty 153 00:10:00,200 --> 00:10:03,159 five percent of the thing that the political violence is acceptable. 154 00:10:03,399 --> 00:10:07,600 It's never acceptable. We got to condemn it, always, always, okay. 155 00:10:07,639 --> 00:10:11,559 Speaker 1: So James Colemy got in front of the camera on 156 00:10:11,720 --> 00:10:15,879 his laptop or someplace and gave this response to this 157 00:10:16,559 --> 00:10:17,519 latest indictment. 158 00:10:18,120 --> 00:10:22,480 Speaker 7: Well, they're back, this time about a picture of seashells 159 00:10:22,600 --> 00:10:26,159 on a North Carolina beach a year ago. And this 160 00:10:26,200 --> 00:10:29,279 won't be the end of it. But nothing has changed 161 00:10:29,320 --> 00:10:33,759 with me. I'm still innocent, I'm still not afraid, and 162 00:10:33,799 --> 00:10:37,200 I still believe in the independent federal judiciary. So let's go. 163 00:10:38,639 --> 00:10:42,559 Speaker 1: Yeah, so he says they're back. Tom Dupree is a 164 00:10:42,600 --> 00:10:46,759 former US attorney. Let's see what this reaction is to 165 00:10:46,799 --> 00:10:47,200 all of this. 166 00:10:47,720 --> 00:10:50,000 Speaker 8: Well, it really depends on what Komy does. 167 00:10:50,159 --> 00:10:53,240 Speaker 9: In some cases, you'll see defendants go in very quietly, 168 00:10:53,399 --> 00:10:57,240 they'll submit, they'll sign paperwork, maybe get fingerprinted, and then 169 00:10:57,320 --> 00:11:00,320 leave quickly. On other cases, you'll see the defense want 170 00:11:00,320 --> 00:11:02,679 to make a public statement. Wouldn't surprise me if Comy 171 00:11:02,759 --> 00:11:05,120 used this as an opportunity to speak to the press 172 00:11:05,120 --> 00:11:07,320 along the lines of the statement that he issued overnight, 173 00:11:07,360 --> 00:11:10,120 again proclaiming his innocence, saying he thinks these are politically 174 00:11:10,200 --> 00:11:12,960 driven charges and he's confident that he will prevail. So 175 00:11:13,000 --> 00:11:15,440 Comy has the opportunity to speak to the public, but 176 00:11:15,519 --> 00:11:17,360 he doesn't necessarily have to do it today. 177 00:11:17,480 --> 00:11:20,600 Speaker 1: Well, he showed up at the US Courthouse in Alexandria, 178 00:11:20,679 --> 00:11:25,840 Virginia and went in quietly, did not no, no, They 179 00:11:25,840 --> 00:11:28,399 did not put handcuffs on him, they didn't make him 180 00:11:28,399 --> 00:11:30,519 go through a purp walk, and he didn't say anything. 181 00:11:30,559 --> 00:11:33,919 So it was done quietly in the bowels of the 182 00:11:34,039 --> 00:11:40,360 US Courthouse in Alexandria, Virginia. Todd Blanche, the acting U 183 00:11:40,919 --> 00:11:45,519 Attorney General before the media again today and they quizzed 184 00:11:45,600 --> 00:11:49,559 him on did you really want to prosecute James Comy 185 00:11:49,639 --> 00:11:54,240 on this? I mean, is this you being a soldier 186 00:11:54,399 --> 00:11:57,080 for President Trump because you know President Trump wants to 187 00:11:57,159 --> 00:12:00,279 go after James Comy? Is that what you're doing? And oh, 188 00:12:00,279 --> 00:12:06,240 by the way, this reporter found a case where somebody 189 00:12:06,440 --> 00:12:10,639 had put out all kinds of merchandise that was eighty 190 00:12:10,759 --> 00:12:14,919 six forty six, in other words, something that was about 191 00:12:15,000 --> 00:12:20,840 Joe Biden to eighty six forty six, and nobody was prosecuted. 192 00:12:20,879 --> 00:12:24,480 And they were selling all kinds of merchandise on eighty 193 00:12:24,559 --> 00:12:27,399 six forty six. So what are you going to do, 194 00:12:27,480 --> 00:12:28,159 Todd Blanche? 195 00:12:28,240 --> 00:12:31,320 Speaker 10: Will the Justice Department pursue that case? Because they sound 196 00:12:31,639 --> 00:12:35,679 very similar? That's just completely not true. That's not how 197 00:12:35,720 --> 00:12:38,039 a grand jury does this work. They don't just look 198 00:12:38,080 --> 00:12:40,919 at a single image and then say, okay, yes, well 199 00:12:40,960 --> 00:12:43,159 indict or okay, no, we won't indict it. 200 00:12:43,159 --> 00:12:44,240 Speaker 3: They do an investigation. 201 00:12:44,720 --> 00:12:48,360 Speaker 4: This conduct took place in May of last year, May fifteenth. 202 00:12:48,399 --> 00:12:49,720 Speaker 3: It has been almost a year. 203 00:12:50,080 --> 00:12:52,639 Speaker 4: I assure you, the FBI, the Secret Service, and the 204 00:12:52,720 --> 00:12:55,720 US Attorney's Office have not been sitting around doing nothing. 205 00:12:55,720 --> 00:12:58,840 They have been investigating. I have no idea whether there 206 00:12:58,879 --> 00:13:02,039 was an investigation into the other times that that post 207 00:13:02,039 --> 00:13:05,120 has been made, and whether that investigation yielded different results. 208 00:13:05,480 --> 00:13:09,879 This investigation that we undertook resulted in a two count indictment, 209 00:13:10,000 --> 00:13:13,000 so you cannot compare well what happened last time what 210 00:13:13,080 --> 00:13:13,840 happened this time. 211 00:13:13,919 --> 00:13:15,559 Speaker 3: Every investigation is different. 212 00:13:16,000 --> 00:13:18,600 Speaker 1: So the big investigation is going to be interesting to 213 00:13:18,600 --> 00:13:23,039 see because apparently the indictment was all of three pages long, 214 00:13:23,519 --> 00:13:28,039 so it's pretty thin. Don Bacon, former Air Force general 215 00:13:28,120 --> 00:13:32,120 now congressman from Nebraska, was asked about it today. 216 00:13:32,320 --> 00:13:35,559 Speaker 11: I think it's foolish. I don't defend Director Comy for 217 00:13:35,759 --> 00:13:38,080 putting that post out. I thought it was foolish in 218 00:13:38,120 --> 00:13:40,200 his own right for doing it. He took it off 219 00:13:40,279 --> 00:13:43,480 right away. But to prosecute a guy for putting that 220 00:13:43,559 --> 00:13:45,919 post out also seems foolish to me. 221 00:13:45,960 --> 00:13:46,600 Speaker 1: It's overreach. 222 00:13:46,960 --> 00:13:51,440 Speaker 11: I think most Americans we don't like seeing lawfare going 223 00:13:51,519 --> 00:13:54,000 after people's opponents, and I think we've seen it, not 224 00:13:54,080 --> 00:13:57,080 just this administration. We've seen it a few administrations now, 225 00:13:57,480 --> 00:13:59,960 and I just think it's it's not healthy for our country. 226 00:14:00,360 --> 00:14:02,480 Speaker 1: So I think this will be short lived. A judge 227 00:14:02,480 --> 00:14:03,120 will throw it out. 228 00:14:03,759 --> 00:14:07,759 Speaker 11: I'll see any jury do a guilty thing for a 229 00:14:07,799 --> 00:14:09,639 picture like that on our social media. 230 00:14:09,840 --> 00:14:15,519 Speaker 1: Finally, Andrew Turkowski, he's a defense lawyer in Washington, DC. 231 00:14:15,840 --> 00:14:20,000 He was asked all about the James Comby indictment. 232 00:14:20,080 --> 00:14:22,960 Speaker 12: So found probable cause and a grand jury returning an 233 00:14:22,960 --> 00:14:26,759 indictment is a significant and serious event in a criminal prosecution. 234 00:14:26,879 --> 00:14:30,120 But we all know that an indictment and a probable 235 00:14:30,159 --> 00:14:33,840 cause standing is a lot different than a proof beyond 236 00:14:33,879 --> 00:14:37,000 a reasonable doubt standard. And so here we have a 237 00:14:37,080 --> 00:14:42,360 statement eighty six forty seven. Some people interpret that term 238 00:14:42,440 --> 00:14:45,879 eighty six as a threat, a kill threat. Others, including 239 00:14:46,039 --> 00:14:50,399 Merriam Webster Dictionary, says that it isn't actually a violent threat. 240 00:14:51,399 --> 00:14:56,799 The standard here is whether James Comy recklessly disregarded the 241 00:14:56,840 --> 00:15:00,240 idea that this would be taken as a threat. The 242 00:15:00,759 --> 00:15:03,519 information with him is that he's I mean, he's so 243 00:15:03,679 --> 00:15:06,039 deep on the inside, and so did he receive some 244 00:15:06,080 --> 00:15:08,600 sort of briefing. Is there some sort of communication trail 245 00:15:08,879 --> 00:15:12,399 where he recognizes that eighty six has a very violent 246 00:15:12,559 --> 00:15:15,440 or threatening tone to it, where most people or some 247 00:15:15,480 --> 00:15:18,279 people might use that term one way he had that 248 00:15:18,360 --> 00:15:21,879 specific information. It's not in the indictment, it wasn't specifically 249 00:15:21,919 --> 00:15:24,480 said in the briefings that we received, But that I 250 00:15:24,519 --> 00:15:27,000 think is the is the key to saving this from 251 00:15:27,120 --> 00:15:30,440 a First Amendment claim that would essentially have this dismissed. 252 00:15:30,720 --> 00:15:32,200 Speaker 3: At one stage he's in courtant. 253 00:15:32,399 --> 00:15:34,919 Speaker 1: Yeah, there's going to be all kinds of motions to 254 00:15:34,960 --> 00:15:37,559 try to get this thing dismissed. And if it does 255 00:15:37,759 --> 00:15:41,519 have to go forward, it would be under the claim 256 00:15:41,679 --> 00:15:48,519 of free speech First Amendment. But I'm watching this. James 257 00:15:48,519 --> 00:15:53,000 call me two point zero the whether it's Letitia James, 258 00:15:53,799 --> 00:15:58,360 whether it's John Bolton, all these various perceived enemies of 259 00:15:58,399 --> 00:16:00,799 the president, and he's going at them. I told you 260 00:16:00,879 --> 00:16:03,559 yesterday he said when he was campaigning he was going 261 00:16:03,600 --> 00:16:08,519 to do retribution and hide it. He advertised it, and 262 00:16:08,559 --> 00:16:12,720 this is retribution. Now will these cases? None of them 263 00:16:12,759 --> 00:16:15,960 seem to hold water when they go to court. So 264 00:16:16,080 --> 00:16:19,159 what is Donald Trump doing? And I'm just going to 265 00:16:19,159 --> 00:16:22,600 take a wild guess, but I believe that what he's 266 00:16:22,639 --> 00:16:26,360 doing is he's taking all the people that put him 267 00:16:26,440 --> 00:16:31,840 through the legal grinder, had him hire lawyers and sit 268 00:16:31,919 --> 00:16:36,399 in courtrooms and testify or not testify whatever it might 269 00:16:36,480 --> 00:16:40,200 be that they made his life miserable, and all the 270 00:16:40,240 --> 00:16:43,799 people that made his life miserable, he's going to make 271 00:16:43,840 --> 00:16:46,440 their life miserable. So I don't know if he thinks 272 00:16:46,480 --> 00:16:50,399 they're actually going to get convicted of these crimes that 273 00:16:50,600 --> 00:16:53,960 are brought up against these various people. I think what 274 00:16:54,039 --> 00:16:55,919 he wants to do is just give them a taste 275 00:16:55,919 --> 00:16:59,440 of what he had to go through, make them hire lawyers, 276 00:16:59,519 --> 00:17:04,200 make them go through the stress of being indicted, make 277 00:17:04,240 --> 00:17:06,279 them go through all the same things he went through. 278 00:17:06,279 --> 00:17:08,799 And I think that's all he's looking for. I don't 279 00:17:08,839 --> 00:17:11,519 think he thinks these are good. Nobody thinks that these 280 00:17:11,519 --> 00:17:16,039 things are gonna hold water in the court. Very few 281 00:17:16,079 --> 00:17:19,319 people do. And I don't think Donald Trump thinks they're 282 00:17:19,319 --> 00:17:22,200 gonna hold water. I think he's just doing this to 283 00:17:22,319 --> 00:17:26,559 make them miserable because they made him miserable. That is 284 00:17:26,640 --> 00:17:30,880 a definition of retribution. All right. One more guy that 285 00:17:31,079 --> 00:17:34,680 the president's been on his back is Jay Powell. And 286 00:17:34,799 --> 00:17:40,319 today the Federal Reserve had their May meeting, and just 287 00:17:40,599 --> 00:17:45,680 to cut through the numbers, the Fed left interest rates 288 00:17:45,799 --> 00:17:49,279 unchanged three and a half percent, Federal funds rate three 289 00:17:49,319 --> 00:17:55,079 and a half to three point seventy five, talked about 290 00:17:55,880 --> 00:18:04,160 developments in Iran are expanding, uncertainty, the jobs market remains 291 00:18:04,599 --> 00:18:09,359 low as far as hiring goes. And it's the first 292 00:18:09,400 --> 00:18:15,200 time since October of nineteen ninety two that there were 293 00:18:15,400 --> 00:18:21,240 four descents on the Federal Reserve Open Market Committee. Four 294 00:18:21,480 --> 00:18:28,079 of the governors voted against, well three of them voted against. 295 00:18:29,400 --> 00:18:32,519 They wanted to maintain rates, They did not want to 296 00:18:32,640 --> 00:18:36,799 lower interest rates. That's three of them. Hammock, Cascari, and 297 00:18:36,880 --> 00:18:41,400 Logan and then Miriam who was appointed by Donald Trump 298 00:18:41,480 --> 00:18:44,599 last year. He has wanted to cut interest rates each 299 00:18:44,640 --> 00:18:47,079 and every meeting that he's been involved with, and there 300 00:18:47,160 --> 00:18:49,720 was no difference today. He wanted to cut rates by 301 00:18:50,200 --> 00:18:55,640 a quarter of a percent. It's interesting, but after the 302 00:18:55,720 --> 00:18:58,920 Fed had their meeting, Jay Powell came out and held 303 00:18:58,960 --> 00:19:03,359 his news conference, and in the news conference he surprised 304 00:19:03,440 --> 00:19:10,559 everybody because his term expires as chairman May fifteenth, so 305 00:19:10,680 --> 00:19:14,599 in two weeks he's out kind of, but there's a 306 00:19:14,720 --> 00:19:18,279 rule in the Federal Reserve that says the chairman can 307 00:19:18,319 --> 00:19:21,319 stay on as a governor of the Federal Reserve Board 308 00:19:21,880 --> 00:19:26,119 until his term expires, which would be January thirty, first 309 00:19:26,119 --> 00:19:29,839 of twenty twenty eight, so another year and a half 310 00:19:31,119 --> 00:19:35,519 and Jay Powell surprised everybody by most chairmen when they're 311 00:19:35,559 --> 00:19:38,920 done with being chairman, they step down. Not Jay Powell. 312 00:19:38,920 --> 00:19:40,079 Here's what he had to say. 313 00:19:40,519 --> 00:19:43,000 Speaker 8: It is extremely important not for the people who work 314 00:19:43,039 --> 00:19:45,119 at the FED at any given time, but for the 315 00:19:45,160 --> 00:19:47,640 people that we serve that the FED remain able to 316 00:19:47,640 --> 00:19:50,160 conduct monetary policy in a way that doesn't get pulled 317 00:19:50,160 --> 00:19:53,799 into politics trying to help or hurt any particular politician 318 00:19:53,880 --> 00:19:56,720 or political party. It's critical for the people that we serve. 319 00:19:57,279 --> 00:19:59,559 In terms of when I would leave, I will leave 320 00:19:59,599 --> 00:20:01,480 when I when I think is appropriate to do so. 321 00:20:02,200 --> 00:20:03,400 Was that all your questions or was it? 322 00:20:03,519 --> 00:20:03,599 Speaker 1: Well? 323 00:20:03,640 --> 00:20:05,599 Speaker 13: I just have a follow up, which is, what would 324 00:20:05,599 --> 00:20:08,519 you say to the criticism that by remaining on the board, 325 00:20:08,559 --> 00:20:12,519 you're actually taking a political act and denying President Trump 326 00:20:12,759 --> 00:20:15,000 the majority of the board, which as president he would 327 00:20:15,000 --> 00:20:16,119 have if you left. 328 00:20:16,599 --> 00:20:18,759 Speaker 8: I don't see that at all. And as I mentioned, 329 00:20:19,640 --> 00:20:22,079 you know, I'm literally staying because of the actions that 330 00:20:22,119 --> 00:20:25,359 have been taken. I had long planned to be retiring, 331 00:20:25,920 --> 00:20:28,440 and you know, the things that have happened really in 332 00:20:28,440 --> 00:20:30,960 the last three months of I think left me no 333 00:20:31,079 --> 00:20:33,200 choice but to stay until until I see them through 334 00:20:33,240 --> 00:20:34,039 at least that long. 335 00:20:34,880 --> 00:20:39,319 Speaker 1: So he is not leaving because he wanted to, but 336 00:20:39,519 --> 00:20:42,119 he's not going. He's going to dig his heels in. 337 00:20:42,440 --> 00:20:45,640 He's not leaving because Trump has been on his case 338 00:20:45,960 --> 00:20:50,279 for the last year and giving him really a hard time. 339 00:20:50,720 --> 00:20:55,880 So he's sticking his feet in the ground and holding on. 340 00:20:56,079 --> 00:20:59,079 According to the rules, he can stay until January thirty 341 00:20:59,119 --> 00:21:02,039 first of two thousand and twenty eight. So that was 342 00:21:03,319 --> 00:21:09,039 not a huge surprise, but it was. It's not the normal, 343 00:21:09,119 --> 00:21:11,400 let me put it that way. So he's basically given 344 00:21:11,839 --> 00:21:16,880 thumbing his nose at the president one last time. Kevin 345 00:21:16,920 --> 00:21:20,680 Walsh got approved by the Banking Committee, so now it 346 00:21:20,680 --> 00:21:22,640 needs to go to the full Senate. I'm sure he 347 00:21:22,720 --> 00:21:26,200 will be approved. But with the FOURD descents today, Kevin 348 00:21:26,240 --> 00:21:28,480 Walsh is going to take over a Federal Reserve Board, 349 00:21:28,799 --> 00:21:31,880 Federal Open Market Committee is what it's called. That is 350 00:21:31,960 --> 00:21:36,720 going to be. Usually they just go along with the chairman, 351 00:21:37,400 --> 00:21:39,119 and what they're saying is, no, we're not going to 352 00:21:39,200 --> 00:21:41,000 do that anymore. We are going to be our own 353 00:21:41,039 --> 00:21:46,480 independent Federal Open Market Committee board and so welcome as chairman, 354 00:21:46,559 --> 00:21:49,400 but you're going to have to work to get us 355 00:21:49,400 --> 00:21:52,519 to agree with whatever you want the Fed to do. 356 00:21:53,480 --> 00:21:56,799 But there's your three personalities today. You got Jimmy Kimmel, 357 00:21:56,880 --> 00:22:01,480 You've got James Comy, and then Jay Powell thumbing his 358 00:22:01,559 --> 00:22:07,680 nose at the president. Today. Let's talk about oil and gas, 359 00:22:07,720 --> 00:22:10,440 shall we? The price. I don't know if you've noticed 360 00:22:10,440 --> 00:22:14,759 the prices, but the price of gasoline has fightd I 361 00:22:14,799 --> 00:22:17,480 mean way up. It was. It was kind of topping 362 00:22:17,519 --> 00:22:20,000 out there for a little bit and going down a 363 00:22:20,000 --> 00:22:22,680 couple of cents here, a couple of cents there. Nope, 364 00:22:22,759 --> 00:22:26,920 not anymore. The average the from the Triple A, the 365 00:22:26,960 --> 00:22:30,480 average price for gasoline, the cheap stuff in this country 366 00:22:31,119 --> 00:22:34,119 is up to four dollars and twenty three cents. That's 367 00:22:34,200 --> 00:22:39,240 up a nickel from yesterday. Diesel was unchanged at five 368 00:22:39,319 --> 00:22:44,480 dollars forty six cents. The five states two three, yeah, 369 00:22:44,519 --> 00:22:48,680 five states that are above five dollars average, they're all 370 00:22:49,079 --> 00:22:52,920 on the West coast. State of Washington five dollars fifty 371 00:22:52,960 --> 00:22:56,400 four cents is the average for the cheap stuff. Oregon 372 00:22:56,519 --> 00:23:01,680 five dollars twelve. California is the granddaddy five dollars and 373 00:23:01,880 --> 00:23:07,599 ninety eight cents. That's yeap. Round it to six bucks. Nevada, 374 00:23:07,680 --> 00:23:10,559 you're at five dollars and ten cents. In Hawaii five 375 00:23:10,640 --> 00:23:13,839 dollars and sixty three cents. And I was looking at 376 00:23:13,839 --> 00:23:19,160 the California report by counties. If you're going to Yosemite, 377 00:23:19,759 --> 00:23:23,440 get gas before you go there, because that county that 378 00:23:23,559 --> 00:23:28,599 Yosemite is located in, it's a beautiful national park. Six 379 00:23:28,920 --> 00:23:33,960 dollars and eighty eight cents average price for the cheap 380 00:23:34,000 --> 00:23:39,720 stuff in that county where Yosemite is located. So gas 381 00:23:39,759 --> 00:23:45,759 price is going back up today. Joseph Amato, who is 382 00:23:46,480 --> 00:23:52,000 the top analyst at Newburger, was talking about the stock 383 00:23:52,079 --> 00:23:55,079 market and the oil and gas prices. 384 00:23:55,160 --> 00:23:57,359 Speaker 14: In Middle East politics one of them, or do you 385 00:23:57,400 --> 00:23:59,680 have I mean, say extracise. You have people that know 386 00:23:59,839 --> 00:24:03,359 be We have lots of resources within our firm for sure, right, 387 00:24:03,400 --> 00:24:07,559 and trying to understand how these situations will affect markets. Right, 388 00:24:07,559 --> 00:24:10,359 We're not opining about the political issue per se, but 389 00:24:10,440 --> 00:24:14,119 where it impacts markets is an important element. And what 390 00:24:14,119 --> 00:24:17,720 we've seen actually is earnings have been driving this market higher. 391 00:24:17,759 --> 00:24:19,480 So as much as people are scratching their head saying, 392 00:24:19,599 --> 00:24:22,039 I can't believe we're at all time highs. Well, earnings 393 00:24:22,079 --> 00:24:25,960 are at all time highs. Earnings pre conflict to now 394 00:24:26,000 --> 00:24:28,480 have actually been upgraded in the case of the SP 395 00:24:28,519 --> 00:24:30,559 five hundred, so it shouldn't be that big a surprise. 396 00:24:31,440 --> 00:24:33,279 We expect earnings to be in the double digits for 397 00:24:33,319 --> 00:24:35,920 this quarter and for this year, and even though. 398 00:24:35,759 --> 00:24:40,039 Speaker 1: It Yeah, so that's about stocks, But let's swing over 399 00:24:40,079 --> 00:24:42,559 to what do he thinks about the oil and gas markets? 400 00:24:42,599 --> 00:24:44,319 Are they going to get worse or better? What about 401 00:24:44,319 --> 00:24:46,799 one hundred and five extended one hundred and ten. 402 00:24:47,200 --> 00:24:49,880 Speaker 14: I think the first thing to appreciate is the global 403 00:24:49,920 --> 00:24:54,279 economy is we estimate fifty percent more less energy intensive 404 00:24:54,920 --> 00:24:57,519 than it was back in the early nineties. So that's 405 00:24:57,559 --> 00:24:59,519 an important element one of the reasons why oil is 406 00:24:59,519 --> 00:25:02,920 probably remain more under on the levels that that we 407 00:25:02,920 --> 00:25:04,359 would worry about. We think you have to get to 408 00:25:04,440 --> 00:25:08,359 one fifty to one seventy five for six months plus 409 00:25:08,400 --> 00:25:12,279 to start to see real demand destruction and GDP estimates, 410 00:25:12,279 --> 00:25:14,000 whether it be global or in the US, to come 411 00:25:14,039 --> 00:25:17,440 down a bit. It's again it wouldn't push into recession 412 00:25:17,559 --> 00:25:20,680 territory necessarily, but you'll see in the case of the US, 413 00:25:20,680 --> 00:25:23,200 we estimate probably half a point less GDP growth. 414 00:25:23,359 --> 00:25:25,720 Speaker 1: You're that's saying something you just said one fifty to 415 00:25:25,759 --> 00:25:28,880 one seventy five for six months and still no recession. 416 00:25:29,519 --> 00:25:33,839 He said, No demand destruction. No demand destruction. Demand destruction 417 00:25:34,039 --> 00:25:36,400 is when you pull into the gas station and you 418 00:25:36,480 --> 00:25:38,640 look at the price and you gasp and you say, 419 00:25:38,680 --> 00:25:42,160 that's it. I'm parking the car, we're not going to 420 00:25:42,240 --> 00:25:44,200 we're taking the bus to work, whatever it might be. 421 00:25:44,319 --> 00:25:48,400 You stop buying the product because the price has gotten 422 00:25:48,680 --> 00:25:54,240 so high. And what Joe Almato over at Newburger says 423 00:25:54,319 --> 00:25:58,599 is so far you're still paying the price. You're still 424 00:25:58,599 --> 00:26:02,279 paying those four five six stallar gallon gas prices. There's 425 00:26:02,319 --> 00:26:03,559 no demand destruction. 426 00:26:03,680 --> 00:26:07,759 Speaker 14: He goes on, likely, Yeah, partly because of the energy intensity, 427 00:26:07,799 --> 00:26:11,359 if you will, and and the resilience of the US companies. 428 00:26:11,559 --> 00:26:13,039 You know, they've had to deal with a lot, whether 429 00:26:13,079 --> 00:26:15,279 it's trists, whether it's COVID, companies have proven to be 430 00:26:15,279 --> 00:26:18,200 pretty resilient and have been able to adjust their cost 431 00:26:18,240 --> 00:26:22,880 bases to continue to drive earnings higher. Well, you have 432 00:26:22,880 --> 00:26:24,759 a bunch of central bank meetings this week, right, so 433 00:26:25,319 --> 00:26:29,319 you know, with the FED today, we expect no change. 434 00:26:29,480 --> 00:26:33,200 That's the consensus we do think there'll be a rate 435 00:26:33,240 --> 00:26:35,680 cut or two in the second half of the year 436 00:26:35,920 --> 00:26:38,599 as the labor market continues to grind a bit softer, 437 00:26:38,680 --> 00:26:40,240 where you know, it is shown to be a bit 438 00:26:40,279 --> 00:26:42,119 soft over the course of the last three to six months. 439 00:26:42,240 --> 00:26:44,599 Now the other central banks will tend to be a 440 00:26:44,599 --> 00:26:47,680 bit more hawkish as they're focused more on inflation, whether 441 00:26:47,680 --> 00:26:51,200 it be the BOJ the other day or ECB BOE. 442 00:26:51,599 --> 00:26:55,920 Speaker 1: So he's very bullish on the stock market and he's 443 00:26:56,000 --> 00:26:58,559 watching to see if anybody is going to stop buying 444 00:26:58,680 --> 00:27:03,200 gas at certain prices, but so far it's not happening. 445 00:27:04,359 --> 00:27:08,160 United Arab Emirates has been a member of OPEC forever, 446 00:27:08,319 --> 00:27:11,720 ever since they started back in the nineteen seventies, and 447 00:27:11,839 --> 00:27:16,200 Opek called up, I'm sorry, United Arab Emirates UAE. They 448 00:27:16,200 --> 00:27:19,720 picked up the phone and called Opek yesterday and said, 449 00:27:19,839 --> 00:27:22,759 guess what, we're out. We're going to do our own thing. 450 00:27:22,799 --> 00:27:26,200 We don't need to be part of this group. Amos Hockstein, 451 00:27:26,240 --> 00:27:30,160 who's a Middle East expert, commented on that and just 452 00:27:30,799 --> 00:27:32,079 the whole situation over there. 453 00:27:32,119 --> 00:27:35,480 Speaker 15: Look, it was definitely a huge move by the United 454 00:27:35,480 --> 00:27:39,680 Ab Emirates and it's not a blow to opic in 455 00:27:39,720 --> 00:27:42,000 the sense that will it be able to control right 456 00:27:42,039 --> 00:27:45,519 now the price of oil. It has no effect on 457 00:27:46,079 --> 00:27:50,440 prices today. It is a big deal because it's more 458 00:27:50,440 --> 00:27:54,599 of a political decision and it's a consequence of this war. 459 00:27:55,039 --> 00:27:59,799 The UAE and other Gulf countries are recalibrating their alliances, 460 00:28:00,359 --> 00:28:05,480 their defense postures, their diplomatic relations, and the UA has 461 00:28:05,519 --> 00:28:08,119 been made it very clear we now want to go 462 00:28:08,200 --> 00:28:11,640 to loan. We want to make decisions for ourselves on everything, 463 00:28:12,000 --> 00:28:15,319 how we defend ourselves, who we align with, what our 464 00:28:15,319 --> 00:28:19,559 political decisions are. We're not going to coordinate with others 465 00:28:19,920 --> 00:28:23,440 in a way that restricts our right to move. Because 466 00:28:23,480 --> 00:28:26,839 oil prices are so high and because the straits are closed, 467 00:28:27,400 --> 00:28:30,079 it doesn't actually change anything in the day to day, 468 00:28:30,559 --> 00:28:34,359 but it does have an impact on understanding the future 469 00:28:34,440 --> 00:28:35,839 of the Gulfs well. 470 00:28:35,880 --> 00:28:39,000 Speaker 1: Back at home here in the US Supreme Court came 471 00:28:39,039 --> 00:28:42,400 out today with a decision involving a case out of 472 00:28:42,480 --> 00:28:49,839 Louisiana regarding gerrymandering the redistricting map in Louisiana, and the Court, 473 00:28:50,240 --> 00:28:54,519 on a six to three decision, ruled that the map 474 00:28:54,559 --> 00:29:00,359 that Louisiana had drawn up was unconstitutional. The problem was 475 00:29:00,400 --> 00:29:03,880 the Constitution versus the Voting Rights Act. Voting Rights Act 476 00:29:04,000 --> 00:29:09,000 was passed in nineteen sixty five, with Civil Rights Act 477 00:29:09,079 --> 00:29:12,680 in sixty four, Voting Rights Act in sixty five. Lyndon 478 00:29:12,759 --> 00:29:17,119 Johnson signed it. So it's sixty some years ago they 479 00:29:17,240 --> 00:29:22,039 passed this, and what it said was hey, and mostly 480 00:29:22,079 --> 00:29:26,279 it applied to a handful of Southern states, saying you 481 00:29:26,359 --> 00:29:30,680 have been discriminating against blacks, and you can't do that anymore. 482 00:29:31,119 --> 00:29:34,160 In fact, we're going to have federal monitors monitoring the 483 00:29:34,200 --> 00:29:38,400 way you run your votes in your states. So over 484 00:29:38,440 --> 00:29:42,160 the last sixty five years that has dwindled down to 485 00:29:42,200 --> 00:29:45,880 where they I'm not sure they're even monitoring any states anymore. 486 00:29:46,720 --> 00:29:51,920 But this case, what Louisiana did was they wanted to 487 00:29:52,039 --> 00:29:56,759 make sure that there were at least two congressional districts 488 00:29:56,759 --> 00:30:04,200 in Louisiana that were minority majority districts. In other words, 489 00:30:04,240 --> 00:30:08,880 they were a majority of African Americans that lived in 490 00:30:08,920 --> 00:30:12,519 those districts, so that the African Americans in those districts 491 00:30:12,559 --> 00:30:16,000 would have a better chance of electing an African American. 492 00:30:16,920 --> 00:30:19,559 So that's what they did, and they went back and 493 00:30:19,599 --> 00:30:22,279 they got in trouble for it before they changed it again. 494 00:30:23,039 --> 00:30:27,960 There's about fifteen to twenty other congressional districts besides these 495 00:30:28,000 --> 00:30:32,240 two in Louisiana. The others they're all mostly in the South. 496 00:30:33,200 --> 00:30:39,240 But they wanted to protect the black vote in Louisiana. 497 00:30:40,000 --> 00:30:45,039 And the reason for it is Louisiana has six congressional districts. 498 00:30:46,279 --> 00:30:51,680 The population of Louisiana is thirty three percent black. So 499 00:30:51,720 --> 00:30:54,319 they said, let's see thirty three percent of the six, 500 00:30:54,359 --> 00:30:57,599 that'd be two, so two four six. And they said, well, 501 00:30:57,640 --> 00:31:01,640 let's make sure that two of the districts represent Black 502 00:31:01,680 --> 00:31:08,519 Americans in Louisiana. And the court said, no, you can't 503 00:31:08,559 --> 00:31:12,039 do that, because what you're doing is your drawing lines 504 00:31:12,240 --> 00:31:17,240 based on race, and that's not right. You can't, for example, 505 00:31:17,279 --> 00:31:20,880 go draw a district up that would be all white. 506 00:31:21,079 --> 00:31:23,440 So they shot it down, and a lot of people 507 00:31:23,440 --> 00:31:28,240 are gasping because that basically throws the protections of the 508 00:31:28,359 --> 00:31:32,039 Voting Rights Act as far as some people think. But 509 00:31:32,160 --> 00:31:37,599 I mean, they were trying to get equal representation in 510 00:31:37,720 --> 00:31:40,640 the state of Louisiana and instead they did it based 511 00:31:40,720 --> 00:31:43,920 upon race, and the court said you can't do that. 512 00:31:44,519 --> 00:31:46,960 Here's Shannon Bream talking about it. 513 00:31:47,160 --> 00:31:49,599 Speaker 16: Okay, So this at first plush here is a win 514 00:31:49,720 --> 00:31:52,559 for the plaintiffs who were not black plaintiffs. They were 515 00:31:52,599 --> 00:31:57,359 non minority voters who challenged this decision. These two districts 516 00:31:57,359 --> 00:32:01,480 that were minority majority. Essentially, louis had drawn up districts 517 00:32:01,480 --> 00:32:03,599 and then they were told in a legal battle that 518 00:32:03,680 --> 00:32:07,359 they had not represented black and minority voters sufficiently. They 519 00:32:07,400 --> 00:32:09,480 went back and drew a second district, so they had 520 00:32:09,519 --> 00:32:12,960 two of these minority majority districts. Well, then non black 521 00:32:13,079 --> 00:32:16,400 voters sued and said, this is now violating our rates, 522 00:32:16,599 --> 00:32:17,960 our rights on the basis of race. 523 00:32:18,000 --> 00:32:19,720 Speaker 5: So it looks like this is a six' to three. 524 00:32:19,759 --> 00:32:22,160 Speaker 16: Decision there is one concurrence, here but it looks like 525 00:32:22,359 --> 00:32:27,640 the descent sticks together With Justices, Kagan, sodomayor And. Jackson 526 00:32:27,839 --> 00:32:30,079 but here's what the majority. Says they insane and some 527 00:32:30,119 --> 00:32:33,400 because The Voting Rights act did not Require louisiana to 528 00:32:33,440 --> 00:32:38,680 create an additional majority minority, district no compelling interests justified 529 00:32:38,680 --> 00:32:41,039 the state's use of race and CREATING sb, eight that. 530 00:32:41,079 --> 00:32:41,960 Speaker 3: Was those two new. 531 00:32:42,000 --> 00:32:46,839 Speaker 16: Districts that map is an unconstitutional jerrymander and its use 532 00:32:46,839 --> 00:32:48,839 would violate the plaintiff's constitutional. 533 00:32:48,920 --> 00:32:49,559 Speaker 5: Rights, now this. 534 00:32:50,079 --> 00:32:52,599 Speaker 16: Opinion is almost one hundred pages, long so we're going 535 00:32:52,640 --> 00:32:54,640 three to see if it says something more broadly about 536 00:32:54,640 --> 00:32:56,720 The Voting Rights. Act that had been the fear on 537 00:32:56,759 --> 00:33:00,640 the left that somehow this, decision if it was favorable 538 00:33:00,839 --> 00:33:02,960 for those challenging these, maps that it would somehow do 539 00:33:03,160 --> 00:33:05,640 a big chunk out of The Voting Rights. Act haven't 540 00:33:05,640 --> 00:33:08,160 gotten to language that suggests that. Yet it sounds like 541 00:33:08,240 --> 00:33:11,839 this decision is primarily about what happened In. Louisiana so 542 00:33:11,880 --> 00:33:13,880 we'll keep digging through, this but for right, now it's 543 00:33:13,880 --> 00:33:17,319 a win for those who were challenging these two minority majority. 544 00:33:17,319 --> 00:33:20,039 Speaker 1: Districts so, well let's go To Joey, jackson an old 545 00:33:20,039 --> 00:33:23,839 friend of. Mine he is An African american defense lawyer 546 00:33:24,359 --> 00:33:27,480 here In New York, city AND i wanted to get 547 00:33:27,799 --> 00:33:30,240 the comments From joey and what he thought about. 548 00:33:30,279 --> 00:33:31,359 Speaker 3: This this is. 549 00:33:31,359 --> 00:33:34,960 Speaker 6: A collision between The Voting Rights act and The, constitution 550 00:33:35,000 --> 00:33:38,480 the fourteenth and Fifteenth amendment non discrimination. Clause so there's 551 00:33:38,519 --> 00:33:40,119 a little bit of history here that people need to. 552 00:33:40,200 --> 00:33:43,599 Understand So, louisiana As joey, said has six congressional districts 553 00:33:43,720 --> 00:33:46,599 and about one third of the state's population is. Black, 554 00:33:46,680 --> 00:33:51,119 now after the twenty twenty, Census louisiana drafted a new 555 00:33:51,359 --> 00:33:55,000 congressional map that had one majority black. 556 00:33:55,079 --> 00:33:57,559 Speaker 3: District, now that was challenged under The Voting Rights. 557 00:33:57,559 --> 00:34:00,000 Speaker 6: Act, basically those plaintifs, said, well there should be two 558 00:34:00,200 --> 00:34:02,519 because it's one third of the. State that then went 559 00:34:02,599 --> 00:34:05,039 up and was challenged in the courts and was struck. 560 00:34:05,119 --> 00:34:08,800 Down after, That louisiana went back to the drawing board 561 00:34:08,960 --> 00:34:11,480 and came up with a map that had two majority 562 00:34:11,519 --> 00:34:14,039 black districts and an effort to remedy that that was 563 00:34:14,079 --> 00:34:17,239 then challenged by a different group of. Plaintiffs and now 564 00:34:17,239 --> 00:34:18,199 it ends up at The Supreme. 565 00:34:18,239 --> 00:34:19,440 Speaker 3: Court so which is it going to? 566 00:34:19,480 --> 00:34:22,199 Speaker 6: Be and The Supreme court tells us now that this 567 00:34:22,599 --> 00:34:26,920 two majority black district map is. Unconstitutional it is an 568 00:34:27,039 --> 00:34:33,239 unconstitutional discrimination against based on race In. Louisiana, now this 569 00:34:33,280 --> 00:34:36,199 decision is a six to three. Opinion it is something 570 00:34:36,199 --> 00:34:39,280 we've seen. Before it's the six conservatives in the, majority 571 00:34:39,360 --> 00:34:43,880 it's the three Liberals, Kagan, sotomayora And jackson. Dissenting and 572 00:34:43,880 --> 00:34:46,800 the fundamental question, is, well what happens when you have 573 00:34:46,840 --> 00:34:49,559 a situation like? This The Voting Rights act says you 574 00:34:49,639 --> 00:34:53,599 cannot deny or dilute the votes of any given, Person 575 00:34:53,760 --> 00:34:56,599 but the fourteenth and Fifteen amendments say you cannot discriminate 576 00:34:56,679 --> 00:34:58,840 on the basis of. Race so where you have this 577 00:34:58,960 --> 00:35:01,440 second map Where louise has gone out of its way 578 00:35:01,440 --> 00:35:04,760 to try to draw two of the six districts as 579 00:35:04,800 --> 00:35:07,840 being majority, black is that constitutional or? Not and the 580 00:35:07,880 --> 00:35:11,880 answer is, no it is not constitutional because it discriminates 581 00:35:11,960 --> 00:35:14,239 on the basis of. Race so in that collision between 582 00:35:14,239 --> 00:35:16,760 The Voting Rights act and the fourteenth and Fifteenth, amendment 583 00:35:16,880 --> 00:35:19,360 according to this, decision the fourteenth and Fifteenth amendment do. 584 00:35:19,480 --> 00:35:24,079 Speaker 1: Prevail so here we are almost In, may and like 585 00:35:24,239 --> 00:35:27,760 primaries are underway and there's going to be a bunch 586 00:35:27,800 --> 00:35:30,880 of them coming. Up so what will be the, Impact 587 00:35:30,920 --> 00:35:33,519 LIKE i, said fifteen to twenty maybe twenty five other 588 00:35:33,559 --> 00:35:39,360 congressional districts In southern states mostly will be impacted by this, 589 00:35:39,480 --> 00:35:42,480 decision and so they're going to have to scramble to draw. 590 00:35:42,559 --> 00:35:46,039 Lines in, meantime people running For congress are trying to 591 00:35:46,039 --> 00:35:51,440 figure out what their congressional district even looks. Like so it's, 592 00:35:51,519 --> 00:35:55,239 late but it's going to create all kinds of questions 593 00:35:55,239 --> 00:35:59,440 for Politicians Wall street, Today, well it was a mixed. 594 00:35:59,519 --> 00:36:03,719 Market The dow finished lower by two hundred and eighty 595 00:36:04,159 --> 00:36:07,639 down to forty eight thousand and eight sixty. ONE smb 596 00:36:07,760 --> 00:36:12,559 also down, lower down three. POINTS nasdac did, fine up 597 00:36:12,599 --> 00:36:16,320 a little more than. Nine the price of gold down 598 00:36:16,400 --> 00:36:19,320 fifty bucks to four thousand and five point fifty, seven 599 00:36:19,519 --> 00:36:23,079 and the price of oil once, again it just keeps going, 600 00:36:23,239 --> 00:36:28,519 higher up eight dollars For West Texas. Intermediate that price 601 00:36:28,599 --> 00:36:31,079 for a barrel of oil is now one hundred and 602 00:36:31,360 --> 00:36:35,159 eight dollars a. Barrel that's it for. Today thank you 603 00:36:35,320 --> 00:36:38,119 for coming. By we will be back again tomorrow AND 604 00:36:38,119 --> 00:36:39,159 i hope to see you that