Trump, Home Depot, Retail Sales, and Maui (Podcast)
Aug 15, 2023
auto_awesome
Former federal prosecutor Michael Zeldin and Bloomberg host Kailey Leinz discuss the fourth indictment of Donald Trump. Drew Reading breaks down Home Depot earnings. Amol Dhargalkar talks about US real yields and global economies amid China's slowdown. Paul Sweeney and Matt Miller host.
The indictment against Trump outlines a broad conspiracy to change election results, including allegations of fake elector plans and stealing election data.
Trump's legal challenges pose a significant problem as the evidence against him is extensive and detailed, and his playbook consists of dismissing it as a witch hunt and partisan attack.
If Trump is found to have attempted to tamper with witnesses or intimidate them, judges can reject claims of First Amendment protections, and the judge in DC has already warned him about his statements and social media posts.
Deep dives
Detailed indictment reveals broad conspiracy to overturn election results
The indictment from Georgia sets out 161 separate acts that were done as part of a broad conspiracy to change the election results. It includes allegations of fake elector plans and stealing election data. The evidence is extensive, including a taped phone call where Trump is heard saying 'go and find me 11,000 votes.' The indictment also links Trump's associates, lawyers, and even people in the Justice Department to the conspiracy. Trump's strategy is expected to be claiming it as a witch hunt and partisan attack on him.
Trump faces significant legal challenges with evidence-rich prosecutions
Trump's legal challenges pose a significant problem as the evidence against him is extensive and detailed. Trump has never faced prosecutions with this level of evidence, involving criminal charges in multiple venues. His playbook consists of calling it a witch hunt and partisan, while ignoring the rule of law. While his core supporters may remain loyal, the challenge lies in how moderate Republicans and independent voters perceive these legal issues. Trump is nervous but remains defiant, relying on the support of his core base.
Potential implications of witness tampering and intimidation by Trump
If Trump is found to have attempted to tamper with witnesses or intimidate them, judges can reject claims of First Amendment protections. Speech that is intended to bring about a crime is not protected by the First Amendment. The judge in DC has already warned Trump about his statements and social media posts, indicating that she will closely monitor his actions. Trump's attempts to intimidate witnesses could be seen as witness tampering, and the judge may take various measures, such as curtailing his outreach and expediting the trial. However, Trump's history suggests that he may not comply with any restrictions or warnings from the court.
Private lending is growing and posing challenges for banks
Private lending is a rapidly growing part of the lending industry. It offers new sources of liquidity for mid-market and large-cap firms, as well as infrastructure projects. The rise of private capital has changed the lending environment, leading to increased competition for banks. As the private lending business continues to expand, it remains to be seen how banks will adapt and compete in this changing landscape.
Challenges and limitations of private credit
While private credit offers certain advantages, there are challenges and limitations to consider. Private credit does not offer the same range of services as banks, particularly in terms of risk management and hedging options. Borrowers may face difficulties in hedging their risk effectively when borrowing from private debt funds. Furthermore, in a rising rate environment, private credit can lead to additional costs and risks that firms may not want to take on. As borrowers evaluate their debt and risk management strategies, these challenges could impact their decisions regarding private credit.
Michael Zeldin, former federal prosecutor with the Department of Justice, and Kailey Leinz, Bloomberg TV and Radio host, join to talk about the fourth indictment of Donald Trump. Drew Reading, Senior Home Builders Analyst with Bloomberg Intelligence, joins to break down Home Depot earnings. Amol Dhargalkar, global head of corporates at Chatham Financial, joins to discuss US real yields reaching a 14-year high and also talks about global economies amid a China slowdown and tightened conditions in the US. Michael Schumacher, Head of Rates and Macro Strategy at Wells Fargo, and Neil Grossman, former CIO at TKNG Capital, join to break down retail sales and Home Depot earnings and how it affects rate hikes for the Fed. Tim O’Brien, Senior Executive Editor with Bloomberg Opinion, and June Grasso, legal analyst with Bloomberg News and host of Bloomberg Law, join to talk about the Trump indictment. Andy Bischof, Utilities Strategist at Morningstar Research Services,discusses the future of Hawaiian Electric after the devastating Hawaii wildfires. Hosted by Paul Sweeney and Matt Miller.
