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tv   Erin Burnett Out Front  CNN  February 24, 2020 4:00pm-5:01pm PST

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presidential town hall event live from charleston, south carolina. we'll hear tonight from seven, tonight and wednesday night, seven democratic presidential candidates over two nights. it all starts later tonight, 9:00 p.m. eastern. "outfront" starts right now. >> "outfront" next, sanders surge. the democratic front-runner going on all in south carolina, trying to knock out joe biden. his rise catching trump's attention. >> plus, prepare for the purge. the white house warning anyone who is disloyal to the president could soon be gone. how many people could be on trump's list. >> and the dow plunging more than 1,000 points. a trillion dollars gone in two days. the number of coronavirus cases spiking. is today's selloff just beginning? let's go "outfront." i'm erin burnett. "outfront" tonight, trump's biggest threat, bernie sanders. this from a republican senator. tim scott, says sanders has the best chance of defeating trump
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in november. scott, of course, is from south carolina, where sanders is now stepping up his efforts, trying to deliver a major blow. potentially a fatal one to his democratic opponents. that crucial primary is just now five days away, and tonight, president trump is taking notice of the man who could very well be his 2020 rival, telling reporters onboard air force one, quote, i actually think he would be tougher than most of the other candidates because he's like me, but i have a much bigger base. and marco rubio's former campaign manager actually agrees about the threat from sanders. i thought the way he put it at the top of his "wall street journal" op-ed was perfect today. he writes, sanders isn't trump's challenger so much as his sequel. here's the line, a bombastic september tujerian called out a rigged system to the cheering masses. he finished second in iowa, first in new hampshire and nevada, leads all the national polls while the establishment candidates wage all-out war on one another. that person, of course, was
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donald j. trump. jeff zeleny is "outfront" in south carolina. how confident is the sanders campaign right now about winning the nomination? >> well, erin, the sanders campaign and the senator himself are more confident than at any other point in the race so far. this is why. that 26-point victory in the nevada caucuses over the weekend shows he can and is expanding his coalition of supporters. now, all of his rivals are trying to take him down, but that is the problem. there are more candidates in the anti-sanders lane than sanders himself. for now at least, the next eight days are critical and the math is on senator sanders' side. >> they say, you know, bernie can't beat trump. so let's look at some of the polls out today. >> bernie sanders is on a roll. driven by his winning momentum and his campaign movement. >> in the key battleground states, michigan, wisconsin, pennsylvania -- >> a very trumpian move, calling
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out his own poll numbers. >> general elections, cbs, sanders, 47. trump, 44. >> it's setting up the most critical stretch of the democratic primary, with rivals scrambling to slow sanders from mounting an insurpassable lead in delegates. joe biden is hoping south carolina voters put the brakes on sanders' rise. telling us the self-described democratic socialist would doom the democratic ticket. >> it's not just can you beat donald trump. can you keep a democratic house of representatives in the congress and bring along a democratic senate? can you help people up and down the line? >> pete buttigieg making the same case. >> we had better make sure we have a nominee at the top of the ticket who can not just take back the white house but keep the house in the right hands and send mitch mcconnell packing. >> backing his argument up with tv ads here in south carolina. >> bernie sanders medicare for all would completely eliminate private insurance. instead of polarization,
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progress. >> with new urgency in the race, fresh scrutiny for sanders. tonight, he's facing backlash from his democratic rivals for his partial defense of fidel castro. >> very opposed to the authoritarian nature of cuba, but it's unfair to simply say everything is bad. when fidel castro came into office, you know what he did? he had a massive literacy program? is that a bad thing even though castro did it? >> florida democrats say yes, with donna shalala firing back, i'm hoping in the future, senator sanders will take time to speak to some of my constituents before he decides to sing the praises of a murderous tyrant like fidel castro. south carolina voters will weigh in first on saturday, followed by super tuesday. even some biden supporters are now unsure who is the strongest democrat to challenge trump. >> you think that vice president biden is the strongest democrat to beat president trump? >> i think it's a toss-up. i believe joe biden is the one
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to do it, me personally. i think that bernie sanders may have what it takes, but i think that joe biden has that history. he has that -- i believe that if he's the candidate chosen, that everyone will get behind him. >> now, one thing is clear when you talk to so many voters here. there is an age breakdown. older voters are still supporting the former vice president. some younger voters said, look, they like senator sanders. when senator sanders takes the stage at a town hamm here, the audiences coming in, he's going to see a spotlight shining brighter, the same at the debate tomorrow. michael bloomberg, his aides telling us the debate is going to be all about bernie sanders. we'll see how senator sanders weathers all of this. one thing that propelled him, he's done this before. the 2016 campaign provided a road map, but erin, he's never been on the cusp of winning the nomination like he is now. >> jeff, thank you very much. i want to go "outfront" to
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democratic congressman ro khanna, the chairman of bernie sanders' campaign. i appreciate you being back. south carolina, the firewall for joe biden. he was perceived to be the head and shoulders winner. a poll out today shows within five points of each other. do you think senator sanders will win south carolina? >> he's going to do very well. obviously, it's uphill. clyburn was very respected in the that, is likely to endorse joe biden. a lot of political establishment is behind joe biden, but bernie sanders is going to do better than anyone expected him to do in that state. >> you just heard biden and buttigieg slamming sanders. buttigieg also this weekend calling him inflexible. saying sanders' ideas for a revolution leave out most americans. you heard bloomberg, it's all about sanders tomorrow. last week, it was all about bloomberg for everybody. is bernie sanders ready for everyone for come at him tomorrow night? >> he is, because he has had
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consistent beliefs for 30 years. that's why he's doing well. he believes we need to complete the work of fdr and finish the new deal, that we need to give everyone in this country the right to health care, a decent education, child care. that we need to get out of endless wars. that's his message. he knows who he is, and he's going to say the same thing on the debate stage tomorrow night. >> senator sanders has come under fire from democrats and republicans for these comments he made last night on "60 minutes" about fidel castro. i want to replay them for you. here he is. >> sure. >> we're very opposed to the authoritarian nature of cuba, but it's unfair to simply say everything is bad. you know, when fidel castro came into office, you know what he did? he had a massive literacy program. is that a bad thing even though fidel castro did it? >> a lot of dissidents in prison did it? >> and we condemned them. >> now, some of your democratic colleagues from florida, which is obviously a crucial swing state, and these are democrats,
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slamming him. i find senator sanders' comments on castro's cuba unacceptable. and you heard donna shalala, she said that she hopes sanders will take time to speak to her constituents before he decides to sing the praises of a murderous tyrant like fidel castro. do you think that perhaps he went too far on castro? >> let me just say this. senator sanders clearly believes that fidel castro was a dictator, that he had massive human right abuses, that he engaged in mass shootings, and there's absolutely no apology for what he did. he did things that were heinous and human rights violations that were indefensible. but the point is that what senator sanders is saying is let's go back to obama's policy where obama was trying to have some normalization with cuba, and not support donald trump's policy, where donald trump has reversed everything obama did. and let me tell you, if you talk
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to president obama or anyone close to him, he would have carried florida in 2020. the young people were for him. all senator sanders is saying is let's go back to president obama's policy. >> so mike bloomberg campaign office in chicago was vandalized over the weekend, as you may have heard. the word oligarch was among the words spray painted. not the first time that word or similar language was used to vandalize a bloomberg campaign office. in a statement, the campaign chairman said, while we do not know who is directly responsible, we know bernie sanders and his campaign have repeatedly invoked this langu e language. his refusal to denounce these acts is a sign of his inability to lead and his willingness to condone trump like rhetoric. it has no place in our politics. do you think senator sanders needs to denounce these acts of vandalism. >> let me say i'm the co-chair of senator sanders' campaign. i unequivocally denounce these
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acts of vandalism. i don't condone anyone name calling any of the other opponents. we're not about that. we're about our positive vision, which is a grassroots campaign that is fueled by individual donors, and we're willing and eager to build a broad coalition. we welcome people who are supporting other candidates to look at our platform. i believe when they look at our platform, they're going to see that they agree with a lot of it. >> congressman, some of this language, though, it does come from the top. i understand you denounce -- he here's, though, bernie sanders talking about bloomberg in the last couple idays. >> today we say to mayor bloomberg, we are a democracy, not an oligarchy. you're not going to buy this election. anybody here worth $60 billion? you can run for president. and you can buy the airwaves. my friends, that is called oligarchy, not democracy.
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>> do you think he needs to change his rhetoric or not? >> i think he's just pointing out facts that michael bloomberg is spending $300 million, $400 million in a magnitude that is at least ten times more the entire field, and he believes as does senator warren, as do many of the candidates, that's not fair for our democracy. that's a fair point to make in a democratic debate. here you have michael bloomberg calling bernie sanders a communist, which is patently false. >> i appreciate your time. good to talk to you again. >> tonight on cnn, don't miss the town hall, bernie sanders will we on at 9:00, pete buttigieg at 10:00, and tom steyer at 11:00. the town halls will continue on wednesday night. >> "outfront" next, mike bloomberg highlighting his ties to obama, but new audio uncovered by cnn is painting a much different picture.
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>> i wrote a great endorsement of obama. saying he thought i hadn't done the right thing. >> plus, joe biden about to face this do-or-die primary as his lead narrows, is biden's firewall about to crack because of bernie sanders? >> and guilty, one of the most powerful men in hollywood, harvey weinstein, convicted of rape in a criminal sex act. his accusers say this is just the beginning. he will spend his night in rikers prison. er] (son) no. (burke) seen it. covered it. at farmers insurance, we know a thing or two because we've seen a thing or two. so call 1-800 farmers to get a quote. ♪ we are farmers. bum-pa-dum, bum-bum-bum-bum ♪ ♪ ♪ ♪
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new tonight, audio from 2016 that we have obtained at cnn shows michael bloomberg downplaying his own endorsement of barack obama's re-election. bloomberg's campaign has tried to paint a close relationship between the two men, but listen to bloomberg suggesting not that obama earned his endorsement, but his opponent mitt romney lost it. listen in. >> i wrote a candid endorsement of obama saying i thought he hadn't done the right thing, hadn't been good at things that i could report, and romney would be a better person at doing that, but romney did not stick with the values that we had when he was governor of massachusetts. he was much more liberal, pro choice, pro immigration, things i care about, so i was going to vote for barack obama. i thought the democrats would throw it back in my face. they loved the endorsement. >> "outfront" now, tim o'brien,
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strategic adviser for bloomberg's presidential campaign. so, look, in terms of bloomberg and who he is as a political party, he was a democrat all of his life until he ran for mayor in 2001 as a republican. then he was a republican for two of his three terms. we have heard several pieces of audio recently and there are going to be more, which show that bloomberg is not delivering the sort of lines and the thoughts that's consistent with the democratic party now. are you concerned when you hear something like this? there's ads out showing them side by side and what he's saying is a backhanded endorsement. >> they both worked on urban outreach programs to vulnerable youths. they had jointly appeared in press conferences for some of those things. i think the top of the tape, mike is clearly making a joke to whoever is there about his view of the banks. as the tape goes on, he talks about income inequality, and he takes it seriously. in that audio, he's telling wall street, we need to take income
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inequality seriously. it affects us. i would point to where we are in the campaign. mike has the most progressive package of financial reforms any candidacy has other than bernie sanders, who is, you know, he would nationalize the banks, i think, if he had his way. >> so tomorrow night is crucial for bloomberg. obviously, especially in light of last week's performance. >> absolutely. >> which obviously was not good. how will this bloomberg tomorrow be different? >> i think mike bloomberg has to prove to voters he can stand toe to toe with bernie sanders and elizabeth warren and stands up for his ideals, stand up for the things he's fighting for in this election. he was taken aback last week by a number of things. i didn't think he expected it to be a circular firing squad. i didn't think he expected elizabeth warren and joe biden to make things up about him and his record. nonetheless, if you're on that stage and running for this office, you owe voters and the american public a strong performance. that's what we're going to see
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tomorrow night. >> so this isn't just an interesting sound bite we found. i wanted to give you a chance to respond. under a year ago, bloomberg explained why he would not be a presidential candidate, and we found this bite. here he is, mike bloomberg about a year ago. >> it's just not going to happen on a national level for somebody like me starting where i am, unless i was willing to change all my views and go on what cnn called an apology tour. joe biden went out and apologized for being male, over 50, white. >> so now, you have him reversing course on the nondisclosure agreements, the day after the debate. stop and frisk, apologizing. is he apologizing too much? >> well, so i don't think he revoersed course on the ndas. i think he decided he could release the ones he was directly involved in, which were only three over a 30-year period. he still doesn't believe he has the right to release other parties from those ndas, but he
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wanted to make it clear to the public that as elizabeth warren had insinuated, he is not a sexual predator and he's nothing like donald trump. i think he took a good, strong step on his own behalf on the ndas. i think about going on an apology tour, he clearly expected people would call him an oligarch. i thought it was interesting when ro khanna said bernie sanders wants to bring back the values of franklin d. roosevelt into the national spirit, which we embrace as well. but by their definition, franklin roosevelt is also an oligarch. he was a very wealthy man who decided to get into the political process. by that definition as well, so is george washington and john kennedy. so if suddenly ro khanna and bernie sanders have a rule that people with resources can't get into public life, then they're glamorizing people that they themselves are hoping up in front of people as totems of their own values. if it's good enough for franklin roosevelt, it's good enough for mike bloomberg. >> you're advising bloomberg,
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but you know donald trump well. you wrote a biography of trump in 2005. president trump was asked about bernie sanders' surge yesterday, and this is what he said. here he is. >> okay. >> i think bernie is looking more and more like he'll be the nominee. unless they cheat him out of it. >> you know them both. what's your reaction? >> i think donald trump would love bernie sanders to be the nominee. that's why he's pulling for bernie sanders. i think that's apparently why the russians have intervened in the election on bernie sanders' behalf. bernie sanders will not beat donald trump in the fall. bernie sanders tonight, the clips you play of him touting polls showing him ahead, are polls that are taken before bernie sanders is fully vetted. bernie sanders is yet to be fully vetted by the media. his opponents on the debate stage, or other democrats. and there's a lot to come utoon bernie sanders around immigration, gun violence, criminal justice. >> didn't come out in the whole campaign in 2016? >> did not come out. if it came out in 2016, what came out i think has been forgotten. it hasn't come out in 2019, and
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2020, in a muscular and robust way. voters will want to know about these things. i think it will shape the polls. if the democrats don't vet bernie sanders, donald trump will. that's why donald trump is thrilled at the prospect of bernie sanders running against him. i have also been out on the road, probably in 15 states now, down ballot democrats, both progressives and moderates, are frightened of bernie sanders being the top of the ticket. they know he will torch their chances. and i think democratic voters have to get their thinking cap on. >> tim, i appreciate your time. thank you very much. >> and next, we're less than an hour away from the start of the democratic presidential town halls in south carolina. as the calls grow for some 2020 democrats to drop out of the race. plus, the trump administration's warning to anyone who is not loyal to trump. >> if we find them, we'll take appropriate action. ♪
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tonight, nevada is about to award its final four delegates, and this matters. right now, you have bernie sanders leading 22 delegates in the state. joe biden next with seven. pete buttigieg with three.
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it comes as biden is getting ready to hold a campaign rally in charleston, south carolina, tonight. the former vice president needs a win in that state. a new poll from nbc news/marist shows the poll tightening. that's now within the margin of error. "outfront," van jones. gloria borger, and jonathan caught, executive director of the big tent project, raising millions against bernie sanders. van, you know what's amazing when you look at this situation in south carolina. it's now, how much does joe biden need to beat bernie sanders by for this to be what joe biden needed it to be? >> well, i mean, when you have a drom roll that lasts this long, oh, wait until i get to south carolina. the symbol crash needs to be very loud. a little dink, then what was all of this sort of hemming and haing about, saying i could do so well in these diverse states,
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and these non-diverse states don't count? bernie is pulling off something i think people thought was not going to be possible for him. in 2016, the black community did not know bernie sanders. you would talk about dr. king and marching 1,000 years ago. people say, where have you been? the last four years, he's been there. and so he's now a known commodity, and people are leaving the biden camp, headed toward bernie. i know a lot of african-americans who are doing that. biden has to do something special this week. >> and obviously, you know, they've got this debate tomorrow. gloria, i mean, it is pretty stunning to see. and how much of this comes down to people wanting to back a winner? and right now, the winner, the person who is without question, especially with that big nevada victory, is bernie sanders. >> right. nobody wants to back a loser. biden has looked weaker and weaker. and the biden campaign can complain that steyer, who is running for the president of south carolina, it seems, has millions of dollars of ads on tv
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and so is siphoning a lot of his african-american support, but biden thought that it was so firm and so clear cut that, as van was saying, for months and months, he's been saying this is going to be my firewall. when you look at what happened in nevada, and i was just looking at the numbers here. not only did he increase his african-american vote in nevada by over 5%, but 51% of hispanic voters supported sanders in nevada. and the democratic base is very diverse. and this is very important for sanders. not only that, people of all ages voted for him. joe biden tends to do really well with people over 65. but bernie sanders appeals to people across the board with all different kinds of education. and this is important as he heads into those super tuesday
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states beyond south carolina. >> so let me ask you, jonathan, i know you have brought in $2 million. you want to defeat bernie sanders. what do you think, though, when you look at the polls? right now, almost every national and swing state poll shows sanders tied with or beating president trump. you always hear from people saying bernie sanders is not the right guy, he can't beat trump. that's the reason, and therefore, he is not the one to pick. but now the polls seem to be showing sanders beating trump even in swing states like michigan and pennsylvania. do you buy it? >> no, i don't buy it. i think part of what the point of my group's efforts are is to make sure voters know exactly what his positions are. i think he's gotten away with not being vetted properly the way the other candidates have. i think elizabeth warren put out a detailed plan on her health care policy, how she would pay for it, how she would get it passed in the house, and it got examined up and down. bernie sanders shouts medicare for all and tells union members they won't lose their health care and that's it.
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i think once voters start understanding what his policy positions are and what they mean to them, they'll have a change of heart. i think last night, he did an interview and praised some policy that fidel castro had. i don't think that's really going to help any red-district democrats in florida. i also would point out that for years bernie sanders has been in the senate, been in the house. he hasn't been helping democrats win up and down the ballot at all. all of his endorsed candidates lost last time. >> van, you hear those arguments and then you look at the numbers. people who don't like bernie sanders say, look, he's winning, but more people don't want him than do want him. 40% isn't 51%. they'll make that argument and say look, if you could just knock out, pick whoever you want, get a couple out of the race, you could consolidate around one moderate and take down bernie sanders. that's the other argument. i see you starting to chuckle. >> first, it reminds me of 2016. we had the same conversation about trump. he's only getting 25%, 30%, but
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there's 400 other people and only getting 1%. so you can go ahead and get 30, 30, 30, and win. the other thing people don't seem to understand, and it's unbelievable. you have people who have a biden as their first choice and a sanders as their second choice. so the media is missing something, because we would say, well, biden is a moderate. >> what is the cross hp over appeal of bernie sanders? >> it's not as if all the moderates left, you have some klobuchar people who would have bernie as their second choice. i just think that we are in a very similar dynamic as we had in 2016 in the republican party where you have an insurgency, a very unorthodox candidate who is rolling up a bunch of victories, and you had super pacs trying to stop trump. the thing is, you can't just go and vote against bernie. who do you want people to vote for? if you can't answer that question, then it's the same thing you saw with trump. >> i was flipping my papers because i was looking for marco rubio's former campaign manager's first line in the
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"wall street journal" because i thought it said so much. he writes a bombastic septuagenarian finishes second in iowa, first in new hampshire and nevada. he leads all the national polls while the establishment candidates wage all-out war on one another. that candidate is donald trump, who is now the president of the united states. it does -- it does, and i'm not saying history is precedent, but certainly, that is, you know, exact. >> it has a familiar ring to it, doesn't it? of course, donald trump was out there saying we're going to build a wall and mexico is going to pay for it. not unlike medicare for all, and who's going to pay for it? we don't know. taxes, whatever. and it just shows you that voters are sometimes looking for something else. and if you maybe see donald trump as one side of a coin and bernie sanders as another, each of whom have very energized bases. if somebody else becomes the
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nominee in the democratic party, and i still believe that's a real possibility, the question is will those sanders supporters translate, will they go vote for whomever that nominee is? will they organize? will they work their hearts out? or is it just about bernie and will they stay home? >> so jonathan, you know, to gloria's point, maybe they're looking for something different. bernie sanders has been direct that his medicare for all plan will involve taxes for everybody. he doesn't lay out how and doesn't pretend to lay out how and says he doesn't know how much it will cost. voters don't seem to care. is it possible they don't care? they like the idea and don't care about the specifics. >> some voters don't care. donald trump said mexico is going to pay for the wall, and nobody seemed to press him on how it was possible since it was clearly not going to happen. we have to press bernie sanders on that. he sat down for an interview last night and had no idea how to pay for that and flippantly threw out a $30 trillion number. i done think that's acceptable.
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i think voters need to know what they're getting into, specifics on the policy before they go and vote for him. that's all we're trying to do, make sure they know what his policy positions are. i mean, let's not forget, this is also a guy that planned on primarying barack obama. >> thank you. well, that would be interesting if people care about that. the whole relationship with barack obama, it's dicy for many of them. >> next alarming new details about president trump's plan to purge anybody who doesn't have his back. >> plus, the dow suffering its third largest point decline ever. fears mounting that the coronavirus could be much bigger than previously thought. top analyst warns this could be just the beginning. he is my gesh. self. i love this place! made that myself, too. order up. fries on the side. right where i like 'em. don't forget the grease fire. burn, baby -- wait, what? -[ alarm beeping ] -i said grease fire. what are you doing on the counter?
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tonight, trump's loyalty list. cnn learned trump is asking his allies to make a list of staffers viewed as disloyal to him. instructing john mcintee to root out disloyal officials. white house deputy press secretary hogan gidley suggests the next step could be a purge. >> the federal government is massive with millions of people. there are a lot of folks out
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there working against this president. if we find them, we'll take appropriate action. >> "outfront" now, sean patrick maloney of new york and member of the house intelligence committee. congressman, how outside the norm is this? he's got the head of the personnel office compiling a list. >> i spent three years of my life in the white house. it's not the thing you do if you care about getting people's candid opinions. if you want to encourage a real debate, if you're intellectually curious. it's the kind of thing paranoid, small people do. it's reminiscent of richard nixon. we have seen where this leads and it's nowhere good. >> these lists have been generated over the last three years. do you have any idea how many people trump could be targeting? do you know anything about this? >> it's more all the time, i think. right? when you're at war with the truth, you're at war with a lot of different people who care about the truth. when you're at war with science, you're at war with your own weather people when the hurricane goes where you didn't
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say it went. when you're at war with the facts your own administration provides, you're at war with people like marie yovanovitch. what we have seen time and again, the enemy for the president is the truth. it's the evidence and facts that don't suit his preferred view of what the reality should be. that's just a very dangerous quality in a president. >> so now there's of course this book, anonymous, that came off from the person who wrote "the new york times" op-ed anonymously, who said basically, this person thinks trump is absolutely terrible and awful and crazy in every way, but there are good people in there working to preserve the presidency. that was sort of the tone of it. president trump claims he knows who this person is. here he is the other day. >> i know who it is. >> who is it? >> can't tell you that. >> why not? >> but i know who it is. i know all about anonymous. i know a lot about the leakers, too. we know a lot. >> do you think he really knows?
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>> what i know is that is not a president of the united states. that's a little child. that is a foolish little person who is confused about what his job is. it is not to chase his tail looking under his mattress for a monster or trying to find everybody who might disagree with him. it's not to play these games with the press that amount to nothing. it's to focus on the real problems of the american people, and it's to bring people together, to solve common problems. so i'm just continually disappointed in the president's ability to become smaller every day. >> you're a member of the house intellgents committee. you were in the briefing meeting where you were told russia is interfering in the 2020 election. the original reporting had been that you were briefed that the goal was to help president trump be re-elected. the white house national security adviser, mr. o'brien, is saying leze. not seen any evidence to support that finding. he spoke out publicly. >> there's no briefing that i have received, that the president has received, that
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says that president putin is doing anything to try to influence the elections in favor of president trump. we haven't seen that intelligence. i have heard these rumens and leaks from adam schiff's committee but i have not seen them myself and i have seen no intelligence along those lines. >> you were actually in the room. i know you're limited on what you can say. but he's saying what we -- what came out of the broofing room in terms of the reports was not what he saw in the intelligence. what's your response to that? >> first, i would question that it was the house intelligence committee that was the source of those leaks, number one. particularly the majority side. i think it was sourced to the administration, just to clear that up. secondly, i'm obviously constrained by what i can say about the briefing, but none of us is in the dark about what has been known for at least three years. the unanimous consensus of the intelligence agencies that the russians interfered in our election, they favored the president, that they're continuing to do so. we have seen that testimony on the hill by senior administration officials. my goodness, vladimir putin said
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himself he preferred president trump in the last election. there's no real mystery about that. this is again an incidence of shooting the messenger from not wanted to hear the truth. all of us need to take seriously foreign interference in our election. >> "outfront" next, trump tweeting that the stock market looks good to him, after the coronavirus, fears spread to wall street. the dow plunging more than 1,000 points today. is the market prepared for whaum could become a global pandemic. my next guest says no. >> plus, harvey weinstein found guilty of two sex crimes. he was on his way to rikers island, but he's now at the hospital. he was diverted. why? what's next for him? today? [thunder] (son) no. (burke) seen it. covered it. at farmers insurance, we know a thing or two because we've seen a thing or two. so call 1-800 farmers to get a quote. ♪ we are farmers. bum-pa-dum, bum-bum-bum-bum ♪ uh, dad i - aw, psshaw, i thought i knew it all too.
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229 today. south korea announced another 231 new cases today. these numbers are stoking fears that the virus could contribute to a global economic slowdown. "outfront" now, scott menard, the global chief investment officer at goog enguggenheim pa. i appreciate you coming on. you have the gains for the entire year so far gone in a day, a trillion dollars gone from the american markets in two days. you have been raising the red flag about the coronavirus impact on the markets and the economy for weeks. how much worse do you think this gets? >> well, erin, it's interesting. i had said that i thought the market would pull back 5% to 10%, if things stabilized where we were about a week and a half ago. obviously, things i think we are just beginning to see the sell-off. i would expect we could go down maybe 20% from the highs. we're down only 5%. i think we have more down side
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risk. >> president trump tweeted today, his words, i'll read it to you, the coronavirus is very much under control in the usa. we are in contact with all relevant countries. stock markets are starting to look very good to me. obviously not. not something you agree with. >> right. i think it is in the world health organization and the cdc's interest to try to play down how bad this is. the reality, erin, we're not prepared to handle a pandemic. i think we're getting very close to if we're not already in pandemic. probably the best thing at this point is for policymakers to try to shore up confidence while they come to grips with what they'll have to do if things continue to get worse. >> pandemic obviously would be quite a scary thing for a lot of
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people especially for the markets when you start to see emptier airports and things not coming from china, amazon. coronavirus, though, is just one of the red flags you've been warning about, scott. you recently published a note you wrote about the markets and your quote overall was this will eventually end badly. i have never in my career seen anything as crazy as what's going on right now. i have said before we've entered the silly season. i stand corrected. we are in the ludicrous season. explain what you mean. >> well, erin, when you look at all the uncertainty in the world and events like the coronavirus and you see stocks are at an all-time high, their market values are similar by some measures as to where we were in the internet bubble back in 2000. when you look at corporate bonds and high yield bonds, their spread or incremental yield to
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u.s. treasuries is sitting near their historic lows. so it seems odd to me that at a moment where we have so much uncertainty out there, whether it's in trade policy or it's the coronavirus or whatever else you would like to think, that we continue to see these risk assets go up in value. i think a large part of this is being created by the central banks who are committed to keeping interest rates low with nearly $17 trillion worth of debt in the world having negative interest rates and the federal reserve committed to keep putting in liquidity. i think we're inflating assets and we're going to be very vulnerable if we get another shock to the system. >> scott, i appreciate your time. a very sobering analysis, but nonetheless important to hear and i appreciate it. thank you. >> thank you, erin. and next film producer harvey weinstein at the hospital after he was found guilty of two sex crimes. he was on his way to rikers
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harvey weinstein has been rerouted from the notorious rikers island jail to the hospital hours after the disgraced movie mogul was found guilty of two sex crimes. he is facing as many as 29 years in prison. erica hill is out front. >> reporter: harvey weinstein, once one of the most powerful men in hollywood, now a convicted rapist. >> weinstein with his manipulation, his resources, his attorneys, his publicist and his spies did everything he could to silence the survivors. but they refused to be silenced. they spoke from their hearts and they were heard. >> reporter: at least 100 women have now publicly accused weinstein of actions ranging from unwanted sexual advances to rape. he has denied all allegations of nonconsensual sex. six of those women testified at his new york trial over the past month. on monday a manhattan jury found
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weinstein guilty on two counts, committing a criminal sex act and third-degree rape, charges based on testimony from miriam haley and jessica mann. haley told the court weinstein forced her into a sex act in 2006, while mann testified he raped her in 2013 during an abusive relationship. the 67-year-old was acquitted on more serious charges of predatory sexual assault against both women and first-degree rape against mann. immediately taken into custody, weinstein faces 5 to 25 years in prison for the criminal sex act charge, and a maximum of four years for the rape charge. ashley judd in a bombshell "new york times" story published two years ago tweeting for the women who testified in this case and walked through traumatic hell, you did a public service to girls and women everywhere, thank you.
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gratitude to the brave women who testified and the jury for seeing through the dirty tactics of the defense. arquette publicly accused weinstein of sexual misconduct in a separate story for "the new yorker." in response to the verdict lauding the women who came forward at great personal cost and risk. please keep those women in your thoughts today, he wrote. weinstein's attorneys who plan to appeal also tell cnn they don't think he could get a fair trial in part because of the intense media coverage. they also believe the d.a. wanted to make an example of him. >> the district attorney's office wanted to shame mr. weinstein and they wanted to get him on all counts. >> i think clearly throughout the course of this trial, through the cross-examination, through the evidence we put forward, there was a reasonable doubt, a grave reasonable doubt as to whether or not these crimes were proven. >> reporter: we're also learning more about why he was taken to bellevue, rerouted there, erin.
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we're learning from his attorney he was feeling chest pains, having heart palpitations and high blood pressure. we can also tell you cnn learned harvey weinstein hired a prison consultant. his sentencing is march 11. these are not the only charges. he faces criminal charges in l.a. stemming from accusations of rape and assault in 2013. erin? >> thank you so very much. thank you for joining us. "ac 360" starts now. good evening. we're just an hour away from the first of three cnn town halls tonight. bernie sanders, pete buttigieg and tom steyer taking questions from voters in south carolina. michael bloomberg postponed his appearance tonight opting instead to prep more for tomorrow night's debate which could be crucial given his performance his first time out. reports he appears to be positioning himself to to focus his attacks on bernie sanders. then there's joe biden trying to make south carolina the spark to revive his campaign, about to receive the endorsement of