FT News Briefing Thursday, December 19
Dec 19, 2019
The Bank of England faces scrutiny as high-speed traders eavesdrop on press conferences. In a surprising twist, a corporate corruption symbol gains early release from prison. Meanwhile, Fiat Chrysler and PSA unite to form a colossal automaker amid the electric vehicle revolution. Political tensions soar as the US House impeaches Donald Trump, with implications for his Senate trial and re-election chances. As divisions deepen within the Republican Party, the stakes for American democracy remain alarmingly high.
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Political Polarization in America
- Americans' political views have become deeply entrenched, hindering their ability to find common ground on important issues.
- This polarization is dangerous for U.S. policy, as it prevents the kind of unity seen during the Nixon era.
Impeachment Trial Procedures
- The Senate impeachment trial's rules are based on tradition, with Democrats seeking a longer trial with witnesses like Mick Mulvaney and John Bolton.
- Republicans, particularly Mitch McConnell, prefer a swift process, wary of potential breaks in party lines from senators like Mitt Romney.
Stakes for American Democracy
- Trump's impeachment centers on accusations of abuse of power, raising concerns about the separation of powers.
- Adam Schiff argues that failure to impeach sets a dangerous precedent, normalizing behavior that undermines U.S. democracy.