Tom Barrack On Trump Transition & Matt Gaetz for AG 11/14/24
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please. This is OK pot. I'm seen B, C. Producer z VC today on the podcast inside the unconventional disruptive road to a new White house, a surprising pick for a key cabinet sea our aim drivers from the florida transition.

I wonder how many republicans have the stomach to stand up to trump right now and .

stick their heads up out of their holes. And we'll hear from an insider to the president elect thinking 5a ng committed chairman tom bark with inside on trump two point owes management and hiring style。

All i'm saying is let him be him. Just let's all get behind him for a moment. Retribution is not what he's interested, his interested in medication.

plus the rest of today's news that got us squash and avatars at the anchor desk. Get ready for A I ross scan.

This stuff is coming to a theater near you soon.

If not now. It's thursday, november four. Teeth square t begins right now.

Stand back to buy and three, two, one cure, please.

Good morning, everybody, and welcome to school box right here on cnbc were alive from the national deck markets that in times square i'm back you quick along with joker n and Andrew ross sorkin.

Now let's talk about trump transition and what I think is raising a lot of eyebrows controversial pick in washington for the attorney general role aim java is with us, he said west palm beach, florida after the president had left washington where all those eyebrows are being raised this morning and yesterday and um even my guy who drove me this morning, I walked IT I got in the car and he looked at me and he said, mac gates that that was all that was said that was all that was said damon.

yeah you know there are a lot of people saying that gates down here beach fda as well Andrew, president elect trump h said wednesday he's gonna named the controversial florida republican congressmen to be his attorney general and had the department of justice now, gates says, fused with members of his own party in the house.

He's been investigated by the department of justice for sex trafficking and investigation that ended without charges, and he was investigated by the house ethics committee for allegedly showing members of congress nude photos of women on his phone while on the house floor. Still, trump called gates a champion of the constitution and the rule of law and said in a statement, matt will end web ize government, protect our borders, this mental criminal organizations, and restore americans badly shattered faith and confidence in the justice department. Gates is an economic populist and a supporter of at least some of the actions of biden, ftc chair linka.

Now gates filed a friend of the court brief in support of the biden ftc is move this year to ban most corporate non compete agreements and called that effort of vindication of economic freedom and free enterprise. The bite. Ftc had expected the trump D O J to drop the core battle over the non compete issue, but now a source there tells me that the mood is more optimistic that that measure at least will survive not another controversial nomination.

Wednesday, trump also announced former congress woman tosi garboard as this election for director of national intelligence. Gabord is a former democrats turned republican who was accused by senator mitt romney and others of parroting russian talking points in recent years. She's never worked in the intelligence world or served on a congressional intelligence committee. So that is another controversial choice. Guys.

back of you aim. So let's just talk about the implications of all of this and what this confirmation process may look like. We should probably also discussed that there was this report that was likely to .

come out to vote on whether to .

vote to come out, congress investigation, house ethics, ethics investigation, whether that was going to come out, whether this is going to be a way to prevent that from coming out. And what this does more broadly to the questions about what the president elect plans ultimately are the loyalty test that appear to be taking place.

Yeah, look, I mean, the president elect is installing loyalists at all of the top positions of power and washington, D. C. So what he's doing here is consolidating power, and he's forcing some racal, citrin republican senators to go along with him and vote for some of these nominees.

Now, the question I was texting back and forth with our Emily wilkens about this yesterday, you know, are there enough republican senators who would defect on some of these nominees, like peak hedge sef for the department of defense, you know, a television anchor who's never worked at the pentagon. Tosa Gabriel, controversial figure who has never worked in intelligence to run the director of national intelligence office. Or mad gates, somebody who's been under investigation by the deal to now run the D.

O. J. You know, those are lightning rodd selections. But what trump is doing here is pushing those republicans to back his vision for washington.

Trump feels very strongly that the department of justice has been after him unfairly for years. And he wants to send somebody in there, as deep band saw yesterday, to nbc news, to take a blow toss to the place. And that's what that's what that gates is gonna. So but he couldn't find .

a loyalist who hasn't IT. I mean, he couldn't find the loyalist. We were talking about this before of camera. He couldn't find a oiles who wasn't being investigated for having sex with minors and paying them for.

well, i'll tell you what I mean, you you rescue somebody from something like that and IT in gender, even more loyalty, right? And you talk about the house ethics investigation that gates officially resigned from congress yesterday right after this announcement came out. So that ends the house ethics investigation. Typically, they don't release the materials from that investigation. A after a member of congress says resign, they just bury IT. The question here is whether there are enough members on the ethics committee who want to vote to release IT anyway or you know, whether somebody on the ethics committee, which usually doesn't leak the sides, in this case, they need to leak the material, whatever is they've discovered, because you've been investigating some very intense issues in the house of M.

I. T. At least one republican say, yeah, we we still need to see that .

from .

the house. This has got to be totally vented for step. But then I saw another or republican in the house, something was Thomas macy, ayman, said to someone, that is a recess appointment, is gonna be a tourney general deal with IT? That was a question.

is this going to be done to a recess appointment? I was looking to try to find out. I can only see one other example present, White eyes and hour putting. willing. Rogers apparently was a .

turn for a turny general.

I was looking for an a tiny general who was putting this. And this is a super powerful role. We were joking, not joking about Kevin mccarthy, and I was saying maybe he's going to move out of the country. I mean, literally, when you start to think about where this goes and IT does rate and look what what surprises me about this is for so much of the campaign present, electrum was saying that he thought the democrats had weaponized the system and that that's what he wanted to rid himself of. And and what I fear now is that they're gonna people who are going to look at this and say that he's weapon zing the system yeah look.

Andrew, I don't think you need to necessarily look to history for president for anything here. I mean, I think the trump team has been doing their research very carefully for four years about what the limits of executive power are, the extreme limits of executive power, and they're willing to push the envelope all the way there, even if it's unprecedented. Here's a hypothetical.

For example, one thing has never been tested in the U. S. Constitutional system is whether or not the present has the power to adjourn the congress and force a recess IT is in article two, section three of the constitution that the president has the power, in the case of a disagreement between the two two houses of congress, to force an adjournment and force effectively a recess.

but he has never been .

done before. The relation has been doing some research on that.

Yeah, if we might answer to go on with that to disagree with john.

I was amazing. yes.

And .

Johnson for speaker gated.

Some defenders know some of the usual suspects, they texas a. Turney, that can pack bio dollars. interesting.

What this comes down to is for me towards jeff sessions, that I was the first senator to backtrack from alabama, put him in as a tourney general for for almost two years, was furious that he accused the himself from the russian hook. And I think he still thinking about that. And and then I was back. C, I little man .

gates will do as this top right.

but others didn't. In john member, he went to jail. He went to prison. Finally, elliot Richardson had to resign during water gate as as ag.

so it's well. And then the most controversial pick prior to this would probably ly be J, F K.

Appointing his brother. And then I also thought, and IT doesn't mean that this is is gonna all the way in. And we have seen presence make some strange choices for really important positions.

And I I went back and looked at two thousand five George db. bush. Harry admires SHE was like a lawyer that I think it's work for him on his real estate nominated, heard the supreme court. Remember that last year I think twenty four eight he is actually White house council.

probably a very good lawyer.

but has never been just totally different era and .

IT was but i'm saying these control over the party that does not try.

right. But but to think that you can nominate someone to a position like that just because of whatever reason and then it's just so beyond the pale that did anyone's going to look at this and say, yeah, that seems Normal. I just remember I just had that you know, came in. I want many republicans .

have the stomach to stand up to trump right now and stick their heads up out of their holes in this situation. I mean, I just think trump has totally dominant Victory by electoral college. Totally dominant in the party, you know, has the senate.

He has the house. He has a very favorable supreme courts of any of this stuff gets chAllenge to the supreme. He's likely to survive there. He's got total legal immunity from the supreme court. I mean, he is as powerful to figure as we've ever seen in the White house in the united states of america.

And I will say this, I just want to repeat one thing that a very prominent CEO at me yesterday, which was, he said, you know, I don't know why you do this now, so early in the maybe so .

you don't look at any, the other ones suddenly peat heggs s and tom a like, no, no.

no. To heal the country, you got to show I to accomplish .

if he wants .

people to believe in the system, if he cares about his legacy of all the things that we talk.

if.

Unless so the .

other thing .

you know who really aiming, you know who does the day to day Operations of the justice part is the deputy ag, so is going to be at in. But right? You trust things you can do with everyone once at this point is no doubt. No, there's no doubt after .

that might be right. That one point. Don't miss the idea that gates is a conservative, as in licht, the ftc, right? This is somebody who is very skeptical, al, in terms of anti trust policy where republicans have been in the past, I think a gate D O J would zoo american companies in a big way and force break ups and things that that you might expect from a republican .

ministration. I had not .

heard that term before. Conservatives, yeah, been gone around a while back. aim.

Java, thank you, sir. Be talking a lot more up to you. I am sure the .

FBI seized the phone of the founder and CEO of polymer, twenty six year old shame coplin. The market is the crypto based prediction market that was a popular platform for bets on the united states presidential election. Reports say that federal agents woke coupling up at his manhattan home early yesterday to Carry out that search. It's not immediately clear what prompted the rate. The company for its far is trying that searched to Polly markets track record in the recent election, saying in part this is obvious political retribution by the outgoing administration against Polly market for providing a market that correctly called the twenty twenty four president election couples made light of the seizure on his phone on twitter, saying, new phone, who is here's when he told us last thursday about his exchange predicting that election outcome.

People who were watching like the media hours later, we're like, oh, well, you know.

paly word has commonly so low.

We were in the office .

and we .

were looking at the odd employment .

and look like a done deal.

And if you were just watching TV, you would think it's snap.

So that was his first ever television interview we got to talk to about some of these things um and I guess we will see what what happened.

There is other news out. I don't have infirme right now that the whale made a lot more than people thought.

eighty seven .

million dollars.

But no, in france.

tail is his name or something.

But he was sure that trump, who is going, I don't know whether that means anything. They made even more than we thought, other than he had a pretty good idea what he believed. And like I was saying, yes, so I mean, betting on sports is almost impossible. If you had a pretty good idea, you can double your money. And if you were pretty sure of of atonal for whatever reason that you thought was going to happen, that doesn't mean illicit a reason that you thought that necessarily, although I think need I think it's going .

to get complicated of this is, is there a level at which the inside information actually becomes a real issue? Maybe now with the election in this way, you we don't know exactly what they want from his phone were the communications that he was having with others about where the thing, where the results were, maybe the other people I I don't know what judge, until we find that a lot.

let's IT was totally orchestrated along to make IT look like trump was favoured on the bedding out. Did that? Is that really what caused a Victory that big? I don't know. He had any influence necessarily.

The eventually outcome, you suggest that you would have some vel.

I but if IT was much closer .

than IT was.

IT would be obviously much concerned. There was a obviously movement of some sort in the country that that caused what was, you know, seven states, the popular vote house, that even some local legislature flipped. IT shouldn't flip. So I mean, IT was a was more than just a betting market saying the trump was gona win at all, said I don't. Do you think that influenced .

you know .

there were times where, no, I flip the couple times where shoes .

I think there's a lots of things that influence election. yes. I think to suggest that I I believe it's one component part, right?

And to suggest not a component part predicted a different thing. So he was still ahead, I think, the day before or two days before. So there IT wasn't even everywhere that the the trump s ahead and he had been ahead on Polly market handle ahead until the j events.

If you wanted to turn around and say that I didn't have an influence, you say that IT was actually wrong about popular vote.

Well, but when you say thirty percent, they're so likely said when you get on a plane that would had a seventy percent chance of landing, I mean, the thirty percent can come up a lot. I would not get on a plane that was seventy .

percent say keys will be next.

Still become tom bari, K, A financer and long time friend of president electric. He chaired the first inaugural in twenty and seventeen, faced criminal charges after that were, and he says, trump in twenty twenty four is in all new political athlete.

People, you say, why can't you just draw back to the middle? Why can't he reasoned that he can absolutely be reason. He can absolutely go to the middle, but as instincts are saying, that's not where amErica wants to be .

at the moment. Squad pod will be right back.

This is squat pod from C N, B, C.

Thank you very much, and politics .

is tough.

Thank you all.

Here's joe turnin.

Is mike here?

President electric, P. H. At the White house yesterday meeting with president biden or next gas, long time ally of president elect trump and shared the twenty sixteen, and not guo k years ago just joining us now and an exclusive interview is investor tom bark, colony capital founder. It's good to have you on .

and good to be back. Back is timeless and nothing changes.

Love you down.

What of mine? I didn't leave you out. I just give you .

in of the time, I think one of the things we talked about off camera, were you more involved in the last trump run and and presidency that you have been this time? You i've always been long time friends, obviously with the president elect, but I don't think you've got involved this time, told just couple months ago. Is that a factor?

Yeah yeah. That absolutely. In the two thousand sixteen process, none of us knew exactly what we were doing. I am in the the prison elect was marching down a road.

I mean, think people say is a great political life, is just a great athlete to wander from business. And the politics with no background, no governing experience was tough and he did a great job. But I I was very involved with them and kind of just chipping away at the system.

I thought I was great to have a new warrior in the middle of just spring things up. And he did the best job be possibly could that that first term. Then we started this this process of what people are calling corruption of the of the justice.

I don't think it's not corrupt. These people are not correct. Mary garland is not corrupt. He's accomplished.

He's educated. He's pet greed. He's trying to do the right thing. But the system is corroded. So underneath, if you have ninety political appoint ties, who are U. S.

eternities? And by the way, these people are sensational, right? There are thirty to forty years old men, one come out of the elite law schools pedigree. It's like a rugby game.

So you you have a political appointed attorney general who says, I have ten thousand, fell any laws and going to enforce them in accord with my political belief from the present that I am. So that's like a rug begin. It's horrible.

It's it's rugger, but they're not corrupt. The system, the FBI reports to the D, O, J. Everybody CoOperates tes with everybody. And this is what present truth found himself in.

And I got frustrated watching IT after my, but my experience, when we talked about before, at the end of the day, the system works for all of us. But in moments, IT does IT. So you have to allow IT to play out.

In my case, after two years of serious litigation, a brick injury, who's not a fan of president trump, a brilliant judge, who every motion united for two years, I said, i'm going to go to sing, sing for for the years. This judge hates me. After two months of trial, one day comes back, completed, present truth, attacked.

Everybody tried to kill him, financially attacked, personally attacked, spiritually attacked. And the nation comes up with this incredible moment. So I came back to him because, honestly, what I learned is his instincts are so good. They really are. And all of us get frustrated because we have points of view around the edge that IT seems little bit harsh or IT seems printed on some of his appointments like.

yes, give us the the take on maket you said is instinctive you think are great. A lot of people raise in their eyebrows on the that gates piece of this, right.

right? But I mean, you know, you take the whole thing, who who is put in place until now tol y, by the way, you I know really well, is absolutely sensation. And you have a lot of people, you you rk now and cash patel and the huggy, all these great athlete still on my site to shake up the department of justice.

I just think about IT, that is, and unbeliever undertaking, because the civil servants. So you have thousands of thousands of FBI agents who also are not corrupt. But they see politicians come and go. So it's turn left, turn right, turn right.

turn right in terms of the trust or the discust right. I mean, part of the whole things about instill in trust in the system, let's stipulate, there's a lot of people who don't trust the system, in part because there was a worry that IT was being weaponized by politicians, right? And so if we don't want that, and then there's a man gage put in this place, the question is, is the perception right? If hf, the country or more distrusted, by the way, I think more because there's other people live in the public party who raise are right and say really the right person, other other people who could be loyal to the president, if you will, who might be more sensible and in still that someone of trust and still be able to do the things you're talking about in terms of rooting out that the corrosion.

absolutely. And your analysis exactly right. And you have to trust the president extends CS.

And I have this conversation with some living on either coast at halloween. I didn't have to put on a costume, right? I welcome to a room.

They freak out, right? There's nobody. I mean, you know how I was not well received.

Those in the circles and people, you say, why can't you just drawing back to the middle? Why can he be? Reason said, he can absolutely be reasonable.

He can absolutely go to the middle, but his instincts saying, that's not where amErica wants to be at the moment. He can draw back that it's the same with mat. He has a plan.

He has a reason. He has an overwhelming vote from the people to do what IT is that he think is right. And all i'm saying is let him be him. Just let's all get behind him for a moment. He's not going to be retribution is not what he's is interested in vindication.

And you don't think that, that if markets is in, that role is super powerful role way you live through litigation of your own. I don't even know what that cost you, but you know, IT was funny. I was having obvious to my song last night. We were talking about this and my sense of, well, if the justice system works, we shouldn't have to worry, shouldn't shouted worry about this kind of thing and I said, true, but you also don't want prosecutors unfairly prosecuting people because the cost is real. And I don't you probably spend hundreds of about .

millions of people speak about what's already .

happened or what you're worried about happening .

now that that's from full reason .

for picking in to that out.

you double.

Dt, and and that's the question I think about this piece.

but you're so right. And by the way, it's it's million and this the sad right as I say, the system works. IT works for people who have resources by by god's Grace, by the way, we can say god, that's another fantastic thing at work, right? But by god's Grace, my family had the resources to allow me to get through this.

But Normal people who are facing a fell ony a federal felling, the conviction rate is ninety nine point seven percent. They have to flip, right, which is this whole system, all they want. You think they wanted me.

What do they care about some lebanese financial wire that was in private equity, right? It's it's not interesting to them. So you're exactly right. But I think sending a shock wave through that system, and I don't know, I do can't speak for the president. What I what I can say is he's not using that as political capital.

You think it's going to be a recess point. You think gate is gonna yeah, he's gonna be attorney.

You well, I know i'm not to do the .

important time. He thinks per and and the third places .

is even more important because you need somebody understands the planning, right? You when you go through all of the the processes of how the FBI, special investigators and classified information works, prosecutors have the grand jury. The grand jury can endre a ham sandwich, is they always? The defendants have no right. But the process of what you do with the civil service, I mean, it's it's the civil service.

I mean, I think about IT, if you really wanted to do weapon zed things and make sure that people weren't worried about such things, you almost think president trump saying, okay, we're going to part in hunter biden, right, shut things down and in the process. And it's not that there aren't things that you can definitely go after him for that he's probably guilty of the questions in which cases .

do you pick in which do not absolutely a thousand and we're already to have IT over right and Price, by the way, present by I I know him personally.

I boring.

I'm sad for everything that happened. In the greatest event besides the present trumping elected was seeing present elect trump and present biden shaking hands with real smiles on the this.

wow. That was a lot of people tried about how real president died. The smile was, i've never seen him really. That was beautiful.

Things are not out of happy. It's not the question.

Be sure he voted for .

because he was not not .

i'm so curious as a business leader yourself and somebody who has been watching all of this sort of what role you think he's ultimately going to have, what role he's had thus far in terms of maybe even being bigger than we know. There was a line and story yesterday that said he was almost the quality co president. How much influenced is going to want to have in the sort of blue rib in committee through either executive waters and like? But then on the flip side, obviously, is going to be a lot of, I imagine, bigger issues that will have to get dealt with by congress in the senate of the life.

Yeah, absolutely. I look at IT as A A championed lion and a champion sheet coming together. right? Elon musk is, outside of the political rain, are probably the most important innovator, creator, manufacturer, protective or think if if you if you take tesla of batteries, satellites, links in your brain, right?

I mean, he's single handily did more than nica could do in twenty years. So he's thinking in a generation, in a way that has to take us from bricks to bits. That's not the president likes main area.

So in saying we have to move everybody's cheese, which she's done, how do these guys they build a data and of the takes four years and eighteen days. So I think that focus, and I call presidents cy, nobody call presidents with this president. We've learned that, right? I mean, it's it's his road. It's his path.

And you think they will be pals at the end of the four years?

Yes, I do. I do. I think, I think they respect each .

other in their own way. OK, who do you want for treasury?

Who do you want for treasury? That, I mean, you great canal, you you have you got the saw. You have a whole kid. You have bill herrity that can do IT himself.

Tom.

thank you very much.

Thank you.

Next on squad pod artificial Andrew, an A I A R S, on stage at A C, N, B C event.

I went on this A, I journey with somebody else, somebody else that I work with and look up to and that you all know my good friend David favor there is.

And what that means for trust in what you see.

They can now do this with just about anybody.

Welcome back to square d cnbc. S annual investor event delivering alpha was held in new york yesterday and featured an artificially created avatar of our own andersen and cnc colleague, David favor and the impact well, hear IT for yourself.

hi. It's me, Andrew.

and i'm David, but don't call me dave.

Good point. And never ever call me andy.

Point taken.

So this is us now. Avatars, artificial intelligence. Aime is almost as good as squad box me.

But let's be honest, squad box you isn't nearly as good as squared box me. Those were the golden years of school.

David, even your avatar is cut throat.

But here's the real question. Could A I Andrew cover for you the next time you oversleep?

I hope management isn't watching IT could be fun to trick them. Check this out you or no sale. That was what you just saw, folks.

IT was all A I, so there was no voice track. The video was not made. We didn't make this for this.

So David and I, the company called synthesia. There are you. The companies called sinnes. Sia o, it's a unicorn, a big investors including video in the company. They are working with corporations, but sixty percent of fortune five hundred companies are now clients of theirs. They are working with companies to create powerful ets and other things. If you're CEO, for example, and you want to give a speech er all hands to a global a audience, you would record yourself once a potentially and then they would do IT in different languages, could possibly not even record yourself once you could even type out your script.

never even show up and do IT so .

you guys didn't type script in case what we did was David and we did separately. We weren't next each other um we we went to a studio. They filmed us looking up and looking down looking. They recorded our voice.

So I had to read, uh all are two different things I to read sound sad and sound happy and sound this and sound that and they did the same thing with David and then um the script and then no the script we then there was all typed and then IT just did that all by itself. There was no producers, there was no human intervention. And so you literally, if you just, did you want to me to read the news right now? I I could be not me right now talking to you. And this could all be typed though right now, that's not what happened.

Does this concern you like IT does me like just the idea that they can now do this with just about anybody you what David.

I was joking that IT for us, we had actually signed releases about um you know your lightnings for our particular use case. I've hoping we were both saying we hope that our voice in our lights, when they will be used in a different way.

but they may just find paperwork .

that said that but but the point was that yeah once I mean, I think if you if you were using the service, you would have to you have to allow the service to be able to use .

all of your but what happens if that gets out thinking of a CEO, then that get out and then the CEO is something that make market .

tank on the what so fast IT the technology review for that to look as good as that did, you had to do IT in the studio. But the future of this, these guys are working on stuff .

where you could be done, filmed on a phone, but what .

CEO would sign off on saying, okay, even been crazy year or two. They can just take the video .

of you on .

this has nothing to do.

nothing to do. This is like primitive compared to what it's going to be in a year.

This right? That's the point. And it's also required like whether you sign a release not is almost besides the point because you'd be able to take a picture.

There's now I can very well them the terrible things that .

there's an amazing AI tool that you can play with online right now, where you can take an old picture. I actually did IT with my grandfather old a photograph. And we will animate the photograph.

You will make the photograph come to life. So a person who you may have never in always something, and IT was so real. So this stuff is coming to a theater near you soon.

If not now. It's plica placation. what? What happened during the election?

You totally can't wait to see you endorse ing like .

j events in .

the there's diamond .

way we were just discussing last week with the the legal team. There is a video of me. I know if I am selling gold or i'm selling big coin or i'm selling something there's some social media company that using and I look like i'm doing looks like we're here at school no, and i'm selling I don't .

know what I be di, you be selling.

you tell those folks whoever created this but that's yeah well, all that's the danger of IT. The cool part should be that when you're late.

we can have you here .

and that too. And hopefully that our show could be broadcast around the world in all sorts of languages, and we could be talking to everybody.

but they don't really time once you sign off and tape and say, okay, we ve captured this bad bye.

we're done with us to the member mics at the ethics and they pay for his voice. And so then there's a whole separate question about whether in combat brands win because people will buy into those grants that they know now and whether there will be harder for, for Younger folks to get into the business. I mean.

they're doing this llyw ood Green close a few years ago. Talk to us about IT on the show too. Just saying how in hollywood, that's a really frightening thing. You no longer control yourself. They control you.

They don't need you. I would you be OK with sitting at home and not doing anything. You're getting the same picture.

getting the same picture, but they are not going to pay you the same when that happens.

To see video of A I ros scan, check out the uncanny valley with your own eyes. Go to our feed on x. We are at school.

C, N, B, C. You could find video clips there every day. Thank you for listening to squad pod or daily podcast, taking you behind the sounds of C N B C morning show. Squad box is hosted by joe turnin, Becky k and Andrew ross sorin tune in weekday mornings on C N B C at sixty turn and follow school pod. Wherever you get your podcast, we ll meet you back here tomorrow.

We are .

clear.

Thanks, guys.