♪ judy: good evening. i'm judy woodruff. on "the newshour" tonight... widespread attacks -- russia conducts strikes across ukraine and an explosion is reported in a polish border town, raising fears among nato members and a host of questions. then... fighting for the gavel -- the various factions of the gop wrangle for influence as republicans prepare to take control of the u.s. house of representatives. and... making history -- democrat wes moore discusses his election win, setting him up to be the first black governor of maryland and flipping a republican seat in the process. all that and more on tonight's "pbs newshour."

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knight foundation, fostering informed and engaged communities. more at kf.org. ♪ ♪ >> this program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. judy: a deadly blast in poland is sending shockwaves across nato tonight. the u.s. and western allies say they are investigating reports

of an explosion in nato-member poland, whickilled two people. local media reported the explosion at a grain facility in an eastern village about 4 miles north of the border with ukraine. u.s. officials say they cannot confirm any details, while moscow denies striking targets in or near poland. president biden is in indonesia tonight and he spoke by phone with the president of poland a short time ago. he offered full u.s. support in assistance with the investigation and reaffirmed the u.s. commitment to nato. meantime across ukraine, russia unleashed destruction with missiles targeting infrastructure throughout the country. 80 percent of the power was knocked out in the western city of lviv, and rolling blackouts were ordered by ukraine energy authorities. president volodymyr zelenskyy spoke about all this in his nightly address to his people, and specifically about the blast

in poland. pres. zelenskyy: what we warned about for a long time happened today -- terror is not limited to our national borders. to strike nato territory with missiles is a russian strike on collective security. it's a significant escalation. action is required. terror will not break free people. judy: officials are exploring the possibility that the explosion was caused by a ukrainian air defense missile, but ukrainians deny that. late today, poland invoked article four of the nato treaty, asking for a meeting of the alliance to discuss a possible attack on a member state. for more on all of this, we turn to ivo daalder, who served as u.s. ambassador to nato during the obama administration. he's now the president of the chicago council on global affairs. welcome back. what do you make of everything you have heard so far tonight? ivo: well, in war, you live in a

fog, and we need to find all the information we possibly can. the latest report is the polish foreign minister has said indeed it is a russian missile and there were earlier reports it might be an air defense this'll the ukrainians were shooting. that they were defending their territory, there were almost 100 missiles russians shot at civilian locations in ukraine. we need to get some sense about whether this was deliberate against nato territory or a stray missile, but it also shows we are in a very dangerous situation. poland invoking article four, which says we need to consult because a member has perceived a threat to their security is the right thing to do. the meeting will take place tomorrow morning in brussels. they will talk about what do we know, and how do we respond? judy: we are hearing in the last moment or so polish officials

have also called in russia's ambassador to speak with polish leaders. they are moving on several fronts tonight. the possibilities at this point are several, that it could have been the russians, it could have been a mistake or a deliberate move by the russians, or it could have been the ukrainians, but the ukrainians deny that. ivo: yeah. it wouldn't have been the ukrainians shooting at poland, that makes no sense. but there are targets in western ukraine, including the city of lviv, which was bombed by rockets through the day. at the time this event occurred, sometime in the afternoon, the russians were shooting missiles in this area. a ukrainian air defense missile intercepting a russian missile could have been misfired or

possibly intercepted the russian missile and fragments falling on the territory of poland. that is a possibility. what we really have to find out is was this deliberate or not? if it was, that is an armed atta on a nato country and would lead to serious consequences. i doubt it was a deliberate attack, but that is the kind of thing we need to find out. judy: if it were deliberate, what would the serious consequences be? what would the west do? are we talking a militar response? ivo: if it was deliberate, it would be an armed attack on a nato ally and the nato allies would have to agree whether at that point to invoke article five, which says an armed attack against one is an armed attack against all. the response could be military, political, economic, a combination of the three. at the least i think what you

will see is more aid to ukraine, particularly air defense capabilities that the ukrainians have called for, and the allies have been trying to get to them as quickly as possible. and a beefing up of the defense of poland and the border, perhaps a plumbing of anti-rocket and -- perhaps of anti-rocket defense. and i will assume we will see more sanctions. specific sanctions on people responsible, ordering this attack, whether it was the attack that was deliberately targeting poland or not. that kind of thing. a direct military response i think at this point is unlikely. it is possible we might target the very unit from which this missile was coming from. i imagine in a day or two we will be able to find out where that unit is. whether it was shot from an airplane or from a ground launch

system. there is also interest by nato not to escalate this further. we a not interested in starting world war iii, even if putin is conducting a war that is bringing us to the brink. judy: are you saying you do believe it will be possible to determine if this were annexed and the russians, a mistaken -- a missile that went off course, or if it was deliberate? how confident are you that determination can be made? ivo: i think we will find ways both from our intelligence services and looking at the trajectories of the attacks that were taking place to determine whether this was deliberately targeted on polish territory, or more likely, was a stray missile. we've also got to remember what the target was. it was a grain silo in a very small village right at the border. it seems to be an unlikely military target for delivered

attack. on the other hand, if putin is trying to test western resolve, he might be doing exactly that, hitting a target that is not necessarily strategic or militarily significant in order to see how the west would respond. at's what we need to do tomorrow when nato gets together and has this discussion. i think the important thing is nato needs to remain united, stand in solidarity the way that president biden has already done in his conversations with president duda and the entire line to stand united to make clear to vladimir putin, you will not break this alliance or stop us from helping ukraine. judy: thank you. ivo: my pleasure. ♪ judy: in the day's other news -- one week after election day,

republicans are on the verge of retaking control of the u.s. house of representatives with a slim majority. republican leader kevin mccarthy cleared the first hurdle to becoming house speaker, winning his party's nomination. the full house will vote in january. and on the senate side, "the pbs newshour" can confirm that florida republican rick scott will challenge minority leader mitch mcconnell for the senate republican leader post. we'll take a closer look at all this after the news summary. police say the four university of idaho students found dead sunday were targeted and killed with a knife or a similar edged weapon. authorities said it was an isolated incident and there's no imminent threat to the community. the search for a suspect is ongoing. investigators have yet to find the weapon. last night, we mistakenly reported that the victims were shot. we regret the error. meanwhile in charlottesville, virginia, the arraignment for

the man accused of killing three university of virginia football players has been postponed until tomorrow morning. christopher darnell jones junior is facing three counts of second-degree murder for sunday night's shootings. today, the team's head coach rememberedis players. coach elliott: you prepare for this job -- there's no chapter on a situation like this. and so i'm just trying to fige out step by step how to be strong for these young men. i think it's important that we all grieve. i mean, these are outstanding young men that we don't understand why they're gone so early. judy: classes at the university of virginia will resume tomorrow after being canceled for the first part of the week. the man accused of attacking u.s. house speaker nancy pelosi's husband paul last month pleaded not guilty today to federal charges. david depape was charged with trying to kidnap a federal official and assaulting their family member in a violent attack that left paul pelosi

hospitalized. depape also faces separate state charges. fbi director christopher wray sounded a warning today that the chinese-owned video-sharing app tiktok poses serious national security risks. wray testified before the house homeland security committee and said he's extremely concerned about the popular app's operations in the u.s. dir. wray: the chinese government could use it to control data collection on millions of users or control the recommendation algorithm which could be used for influence operations if they chose, or to control software on millions of devices. judy: at the same hearing, homeland security secretary alejandro mayorkas also reaffirmed his claim that the u.s. southern border is secure in spite of a record number of crossings. but he didn't weigh in on the resignation of the country's top border official last week. one of egypt's most prominent political prisoners -- alaa

abdel fattah -- has ended his seven-month long hunger strike. the announcement came in a letter to his family. abdel fattah has been jailed for most of the last decade. this month, he cut out food and water entirely to coincide with egypt's hosting of the cop27 global climate summit. the world's population hit the 8 billion mark today, according to the united nations. it estimates the global population will reach around 8.5 billion in 2030 and 9.7 billion by 2050. much of the population growth is coming from developing nations in africa. a judge has overturned the state of georgia's ban on abortion, which started around six weeks into a pregnancy. the ruling said the ban violated the u.s. constitution and u.s. supreme court precedent when it went into effect in july. the state's attorney general's office said it plans to appeal.

walmart has agreed to pay more than $3 billion dollars to settle opioid lawsuits nationwide for the company's role in fueling the crisis. but 43 states still need to approve the deal for it to take effect. walgreens and cvs health announced similar settlements earlier this month. and, stocks edged higher on wall street today. the dow jones industrial average gained 56 points to close at 33,593. the nasdaq rose 162 points. and the s&p 500 added 34. still to come on "the newshour"... republicans grapple with former president trump's role in the party... the collapse of one of cryptocurrency's biggest exchanges raises questions about the market's viability... a minnesota monastery invests in an increasingly rare form of craftsmanship by expanding its hand-crafted organ... plus much more.

>> this is "the pbs newshour" from weta studios in washington, and in the west from the walter cronkite school of journalism at arizona state university. judy: with all but a handful of races decided, next year's congress will be one of the most-evenly divided in the country's history. legislative leaders will wrangle with fragile coalitions thin and across parties, complicating even basic functions. but as congressional correspondent lisa desjardins explains, first those leaders will need to convince their colleagues to put them in charge. lisa: on the capitol steps, the election is taking human shape, with smiles from newly-elected house members here for orientation. but for current house republicans, strain. today voting on their leaders while waiting to learn if and by how much they will control the house chamber. a large group of races remain uncalled, mostly in california.

that puts leader kevin mccarthy on thin ice in his quest to become speaker. the party is reckoning with disappointing results ofhis year's midterms -- a far cry from the promised red wave. a large majority, 188 house republicans, today voted to back mccarthy as speaker against symbolic opposition from arizona's andy biggs. but that is 30 votes short of the 218 anyone needs to be speaker. to clinch the gavel, mccarthy will need to get those votes by january. speaker pelosi's leadership fate currently is up to her. as the next generation of house democratic leaders awaits her decision and eyes increased republican power, today they spoke of bipartisanship. rep. aguilar: the american people clearly want us to work together, they want us to solve problems. and that's the moment that w're in now. we have a chance to make continued progress if republicans are willing to work together. lisa: few are happier than senate democrats, who will keep their narrow majoritfor 2 more

years. pennsylvania senator-elect john fetterman suited up and stood with leader chuck scmer and fellow senator-elect peter welch of vermont. in the senate, schumer took aim at former president trump's hold on the gop. sen. schumer: after the failures, republican failures in elections in 2018, and 2020, and now in 2022. i hope the message is sinking in. if republicans continue to embrace maga radicalism, they're going to keep losing. lisa: it is a salient issue for senate republicans, whose leader mitch mcconnell welcomed their five new senators today. but who emerged from a tense republican luncheon with this to say about the election. sen. mcconnell: we underperformed among independents and moderates because their impression of many of the people in our party and leadership roles is that they're involved in chaos, negativity, excessive attacks.

and it frightened independent and moderate republican voters. i never predicted a red wave. we never saw that in any of our polling in the states that we were counting on to win, there wasn't a wave. lisa: the party is swimming in questions, including this blunt tweet from senator josh hawley over the weekend, writing that the old party is dead. as republicans contend with theiown direction, all of washington waits for the final numbers on the next congress. judy: and lisa is here now to dive into how these power dynamics will play into what does and does not get done on capitol hill in the coming months and years. hello, lisa. you have been literally running back and forth from house to senate coverg these leadership discussions. where does everything stand? lisa: we still don't have the majority for house republicans yet. these are the races called by the associated press at this moment. 206 democratic seats, 217

republican seats, that is one seat short of a majority. looking at the races remaining, i have five republicans are winning, so they would end with 220 two seats and it looks like that is coming but we don't know when. republicans are eager for that. today was a day of reflection and consternation, finger-pointing among republicans on both sides of the capital. let's start with house republicans. kevin mccarthy did come out from his leadership election and he does claim he will get the 218 votes he needs by january. however, republican matt gaetz of florida came out and said no, he will not get those votes, i don't think he can. it is a classic who is going to come out on top. mccarthy admitted he is negotiating over the rules, how much power he would have as speaker is on the table. he talked about that clearly. then i ran over to the senate side, where you had leader mitch mcconnell facing a leadership

challenge as well from senator rick scott of florida. is that a serious possibility he could lose his leadership role? no, i don't think the votes are there for mitch mcconnell to be ousted, but it is a sign of the divisions among the republican party on both sides. who do you blame for the election and who do you want in charge? judy: speaking of the republicans, we have an announcement apparently coming from former president trump tonight that he will run for reelection again in 2024. you talked to a lot of republicans, how do they c this? lisa: it's woven into the election, how much they blame president trump and how much they want to bet on him in the future. i was astounded today, asking republicans about a former president in their party if he runs for reelection, almost no one would say yes. most of them were saying something like it is early, let's see, that kind of thing. you heard from senate leader

mcconnell when he talked about the chaos and negativity, he is talking about president trump. he is pointing the finger. others i think are waiting and seeing what happens with ron desantis in florida. right now it is a big silence with a side of which way is the air blowing for republicans, especially on former president trump. judy: so the democrats, they are still in control of both houses the next few weeks. what is on their agenda? lisa: they hope to legislate and there are some big things we need to watch. first of all, funding government, the deadline coming up in december. president biden also would like more funding for ukraine and covid. also on the list, it is imrtant to look at same-sex marriage, which we will be talking about probably in the next day and othergenda items, including some related to january 6. there's a lot of stuff to talk about not just politics but

policy. i am wearing my one inch heels, not the bigger heels. judy: we need a video of you running in heels. lisa desjardins, thank you. meantime, questions over republican leadership extend far beyond congress with much of the debate focused on the influence former president donald trump still holds in the party. laura barron-lopez has more on the divide between republicans and what comes next. laura: last week's midterms brought mixed results for the former president and his endorsements. nearly all of trump's hand-picked candidates for governor and senate in key races were defeated, including candidates who centered their campaigns on trump's 2020 election lies. but even as votes for this election are still being counted, trump appears to be looking ahead to another run for the white house and is expected to announce his 2024 presidential bid in a primetime speech tonight. here to assess the state of the republican party and trump's role in it, i'm joined by barrett marson. he's a republican strategist based in phoenix. and daniel mccarthy, editor of

modern age: a conservative review. thank you so much for joining us. last night, the race for governor in arizona was called, democrat katie hobbs defeated trump-endorsed republican kari lake for governor. that follows a number of other republicans who lost statewide like blake masters and mark fincham. what is your take away from the results in arizona and nationally? barrett: absolutely the take away is arizona is a conservative state, it just is not a trump state. arizona still bleeds red, but trump has annoyed, disenfranchised, really turned off voters who are right-leaning independents, moderate republicans, and the john mccain republicans, who absolutely refuse to vote for kari lake and blake mkinch. a mndrsastelaura: daniel, you r

to the election, the republican party's embrace of apparently high risk candidates is a sign of confidence, not weakness. the party voters feel strongly enough about the populist pro-trump positioning they have supported those candidates over more experience and controversial figures. do you still stand by that assessment? daniel: i do, but my timeline was off. i think the populist right has made important gains. j.d. vance, even people who fell short like blake masters in arizona did well in an election year that has sent mostly incumbents back into austin -- into office. masters got within five points or so of knocking off an incumbent senator. i think the momentum is still on the populist right and donald trump, as well as a candidate like ron desantis can claim a victory. laura: daniel, trump is expected

to announce his bid or at least tease a run for the presidency tonit. at the same time, the former president has continued to lie about the 2020 election results and this year's election results, calling it rigged against candidates he supported. he could also potentially face criminal charges in the 2020 election. is he what is best for the republican party? daniel: donald trump was the first president in several administrations that did not get us into a new war, he was able to preside over a good economy until the covid pandemic, all of these show him as someone who should return to office. as for his belief about winning the 2020 election, he also believed he won the popular vote in 2016, so he has a different perception. that did not affect his role as president. i think if he got reelected he

would be very good and i think republicans right now need to have energy donald trump brought to them in 2016, in the need to focus on the issues donald trump highlighted in 2016 such as immigration, foreign policy and a trade policy good for the working class. i think donald trump is still the best champion for those issues. laura: just to be clear, do you think the continued spread of election lies by the former president is ultimately harmful to the country's democratic system? daniel: no, i think the democratic system is robust. you have candidates on both sides of both parties that like to complain about elections they lose. we have had democrats in the past challenge electoral counts in congress and we have had candidates like stacey abrams in georgia, democrats who lost elections, who nonetheless claim they have the election stolen from them. i think donald trump is a par for the course in american politics when you have a closely divided country. laura: one big difference is the former president's lies

ultimately resulted in a violent insurrection on the capital on january 6. barrett, do you have anything to add? barrett: daniel talked about some of the enthusiasm donald trump brings, but ron desantis brings the same enthusiasm without the baggage that donald trump brings. he is a viable alternative, and an exciting alternative to the trump brand. laura: barrett, as you noted, flora governor ron desantis, a republican, is looming large over tonight's announcement. a number of republican lawmakers have said they prefer he be the nominee potentially in 2024. do you see a difference other than what you just mentioned about baggage, in policy between desantis and trump? barrett: i don't think there's much difference between their policies. it is about personality. donald trump has gone 0-3 in

arizona. he won arizona was less than 50% of the vote in 2016. he lost arizona. kari lake has lost arizona. at no point did donald trump or his hand-picked gubernatorial candidate it over 50% in arizona. but i think ron desantis would get an outright victory by at least 10 points in arizona if the election were today. he excites people without baggage. laura: 10 points would be a lot in arizona. daniel, what do you make of ron desantis's potential support among the base of republicans nationally? daniel: he has a lotf support among a lentil lecture's and consultants and people who have an insider understanding of politics. what remains to be tested is how popular he is outside of florida among grassroots voters. we know that, trump packs and rallies, he h an enormous amount of personal chasma and voters who feel personally tied

to him. i think ron desantis starts from a strong position, but if he and trump go head-to-head, there is a chance for a certain amount of fratricide here. the candidates have a lot of similarities in terms of their issues and that will be a stressful circumstance for voters who may like both candidates, but if i go head-to-head, can only choose one. laura: i wanted to get your response to this clip from senator pat toomey, he is a retiring senator from pennsylvania and his seat just flipped blue. sen. toomey: candidates that were seen as ultra and all about the previous president and re-litigating the last election -- they went down in flames even in many cases where conventional republicans, including conservative republicans, were winning big. [17] laura: what is your response to senator toomey into do you think the republican base is still with former president trump? daniel: i think the republican

base is still very much with donald trump, although he's never been tasted by -- been tested by someone like ron desantis. as far as those remarks are concerned, you had incumbents of all ideological stripes, including populist ones like ron desantis, including conventional republicans, as well as a great many democrats. they all won reelection. it was a tough year for challengers. the fact that some trump challengers like j.d. vance succeeded, and others like kari lake did very well for candidates with no experience and are first-time contenders for office, think that shows quite a bit of momentum for the trump movement as a whole. laura: barrett, i wanted to ask, you mentioned arizona is not a trump state even though it is conservative. where does the republican in arizona go from here? barrett: that will be the question soon decided when the state party selects a new chairperson. kelli ward has been a disaster

for the arizona republican party. it is time to move beyond her and bring back winning style in arizona. that is just not a trump style. it is a conservative but reasonable mix in arizona where republicans get over the finish line. laura: thank you bh for joining the newshour. ♪ judy: one highlight for democrats this year was flipping three governor's mansions from red to blue. joining me now is one of those winners -- maryland governor elect wes moore. he's the state's first black governor, and will be the only sitting black governor nationwide. congratulations. thank you for joining us. your predecessor, governor larry

hogan, has already given you a tour of the state capil. tell us what shape is he leaving the state of maryland in for you? mr. moore: i am thankful that the governor has been great about making sure we are going to have an orderly and soth transition. and also the governor was clear from early days about what he felt would be the danger of this maga movement, this idea that election denying would be a political path forward. i think what we saw in this whole election, and when you look at the results of the election -- we were able to win, this has been the largest margin in the maryland governor's race in victory, in 40 years. we were able to win democrats, independents and a large truck -- large chunk of republicans because the state is ready to go fast, be bold, and frankly have

a governor's office that understands the priority should be a good idea rather than where it comes from. judy: you've talked about a long list of needs for maryland and put together an ambitious list you want to get done, including a greater expansion of free kindergarten in maryland on top of offering to compensate high school graduates for college if they take part in a service year. can you get it all done? mr. moore: i like getting into the weeds and details of this stuff, andhe reason we will get pre-k for every child in need in maryland done is not just because it sounds good, it's because that's where the data leads us. 80% of brain development happens in a child by the time theyre five years old so we've got to start earlier. we will have a service year option for every high school graduate -- they have an option of doing a year of service in the environment, education, serving veterans, it will be

their choice. don't because it sounds good, but because the data continues to show it will address the college affordability crisis. i am a big believer in experiential learning. and because service is sticky. those who serve together generally stay together. i saw that in the military. i have people i served with in afghanistan who were doorknocking. many of them were not marylanders or even democrats, and they were knocking on doors assaying it let me tell you who i served with. service is sticky and maryland will lead. judy: you also talked about a so-called baby bonds program that will act like a trust fund for newborns of poor families. how would this work? mr. moore: we've got to address child poverty. there is no reason for a state as affluent and wealthy as ours to still be dealing with the challenge of child poverty, especially in a case where the destinies of our children are being determined before they even have a say. we he to make sure it's not just about policies, that give

people the opportunity to go from one place to another, where opportunity and ambition can meet each other. judy: you've talked about a number of other things, including affordable housing. how do you pay for this? you've talked about cutting taxes, but isn't it more likely you would have to raise taxes to pay for everything? mr. moore: it is not. one of the things that i went into this campaign with the course -- a core understanding of, i have been a public all my life. i run a successful small business, iran a poverty service organization, and we know how to leverage capital. if you look at the state of maryland, we have a structural surplus. we have billions of dollars earmarked from the federal government that are specifically targeted toward these types of issues. info structure, education, $3.9 billion earmarked toward this cautionary spending.

we have new forms of capital coming on board, everything from cannabis sports betting. we have new utilizations of capital we have to put to use. in addition to leveraging private capital. judy: we mentioned you will be the state's first black governor and you will be the nations fourth only black governor. we know a lot of candidates did not make it this year running for senator or governor. stacey abrams, cheri beasley, mandela barnes. as the democratic party doing enough for black candidates right now? mr. moore: i'm thankful because last tuesday, the state of maryland sent a message. let's be clear, this is a state that is the state of frederick douglass and harriet tubman and thurgood marshall. but it is also a state that understands progress is not inevitable, but progress is possible.

when i think about what happened last tuesday, i am grateful -- not only did we win, but it is how we won. if you look at every demographic, if you look that we won areas in maryland that were urban, rural, suburban, western maryland and the eastern shore, i think it's because in this moment, this state was ready. judy: in terms of the other candidates i mentioned who did not make it this year, does it say some thing about where we are as a country? mr. moore: i think we know that the history of this country, it has been a journey, but it has been an uneven journey. you don't have to look any further than the state of maryland to understand the competition's official history. what i do know is as a state and as we saw in the state of maryland was we had to be unafraid to approach it, unafraid to talk about it, but also unafraid to know that if we are going to move forward as a collective in the future, we

could not be constrained by the past. we had to invest in those, making sure peop have the right to vot but also making sure we are giving people something to vote for. and as a party, yes, it means we have to be able to support candidates who are coming up who might come from different and diverse backgrounds. judy: you have said you will support president biden if he runs for reelection, but if he doesn't, your name is already out there as one of the people, the names being mentioned. would you think about it? mr. moore: i would not. i'm excited to support the president in his reelection. the importance of having a strong partnership between maryland and washington, d.c. will be crucial. this will be maryland's decade, this is maryland's time to lead, to grow and compete. to do that we need strong partners in washington and i am excited to have six more years of the biden administration to do just that. judy: governor-elect wes moore,

congratulations again and thank you. mr. moore: thank you, judy. ♪ judy: the fallout keeps growing for the crypto-currency industry after an unexpected bankruptcy. it involved one of the largest and most well known exchanges for buying and selling cryptocurrencies such as bitcoin. as amna nawaz explains, there are now major questions about how this happened and what it may signal about the larger world of crypto finance. amna: judy, that crypto exchange , ftx, was founded by sam bankman-fried in 2019. and it had more than a million users. the bankruptcy came just days after a published report raised questions about whether ftx had adequate capital. investors pulled out in what amounted to a bank run on ftx. now, ftx's downfall has renewed

concerns about the safety and credibility of many cryptocurrencies. their values have plunged as well. roben farzad follows this as the host of the podcast, full disclosure and joins ne mow. ,welcome back and thank you for joining us. this is complicated stuff. you have this crypto exchange, ftx, and it goes from being a cryptocurrency empire one week to bankruptcy the next. how does that happen? roben: it should have been simple stuff. if you have an exchange, it is capturing a spread between the bid and ask, kind of a market maker and depository for people to put crypto assets in. it is a total keeper in effect. the market got wind that other things were in play, namely that it was funneling money to a related hedge fund, alameda capital, and its underlying

currency, its own token was being sold left and right, that left the doors open for investors to demand money back from ftx. as you called it, a run on the bank. it is difficult to ask plain this in normal terms because by its nature, it is decentralized, there isn't a central bank, there isn'a federal reserve stress test. they are based in the bahamas. we are untangling this in real time and it seems like every day , another new revelation drops about what was going on behind the scenes. amna: we should mention the hedge fund, alameda, was run by sam bankm-fried, that is the connection. the damage is not just limited to ftx. what does the collapse mean for the broader cryptocurrency market right now? roben: it is a bad look for all of crypto. people face margin calls, people had tokens and had to sell them, they thought it was a

diversification scheme. we were told crypto was supposed to prevent something like this, it was a distributed letter, that block chain does not require regulators out there with microscopes and magnifying glasses looking at this because it is self restricted and it is impossible to live. in truth, behind the scenes, it is still open to have messy financial controls for people to funnel money to a closely related bank. imagine if bank of america was behind-the-scenes funneling money to merrill lynch, customer depositsas i think the most egregious thing. when customers caught wind of that, they demanded money back, and it was a r on the bank. they did not have the collateral, no capital requirements, no regulation. it has been a catastrophe and it has rippled to all manner of crypto assets. amna: outside of crypto assets, is there institutional exposure? if you have never bought or sold or held cryptocurrency, could you be impacted by this massive

collapse? roben: i think that is keeping certain regulators up at night. when this jumps the pond from the crypto west world into regulated banks, the too big to fail banks, j.p. morgan, citi. a smaller bank in paris went off the reservation. these banks have been subject to stress tests since the financial crisis and which off the reservation, if you will. regulators at least in the united states demand they keep cash on their balance sheets and they are there in case a run like this happens. it is not as fungible as saying i have a ton of these tokens, it is cash like. regulators have looked at that, they've said you have to have a firm balance sheet, and crypto is something you can dabble i it could not be a bedrock asset on your balance sheet. it remains to be seen if there are some thing we don't know about. amna: you have mentioned that crypto is decentralized and unregulated by design.

what does this mean for future regulation? roben: does the fed want to intervene? did you guys want this? you wanted to be decentralized and exotic and have outsized gains. bitcoin went from a couple pennies to $60,000, fell back to $15,000, and that excited people. you saw the breathless super bowl ads. do you want to call it a security? and if it is, are you open to the transparency into closure demands, being accountable to the sec, federal reserve stress tests? i think it harsh is the mellow of crypto for a lot of players who would be less inclined to dabble in the asset class. judy: we know the sec and just apartment -- justice department are looking into this. what questions do we still have about what went wrong here? roben: how can you take customer assets and use them to fund

risky bets in a related hedge fund? how could there not be internal controls at the cfo and board level, that you just have -- i think on a rising tide, you don't worry about these things, but something as basic as a skeptical report on arrival outlet caused a run on this bank. it shows you how flimsy the foundation is, and you have to look at other changes and currencies, the other institutions that say we are good for the money, when the money is actually a token built on faith and credit and what? where is the cash? you have to be backstopped by heart capital. that's the biggest question for me and there are trillions involved. amna: thank you so much. roben: my pleasure, thank you. ♪ judy: pipe organs have a storied history throughout western

civilization, but demand for the king of instruments has seen a steady decline in recent decades. special correspondent fred de sam lazaro reports on one attempt to change that. his report, from collegeville, minnesota, is part of our arts and culture series, canvas. [bells tolling] fred: the bells harold a new day at st. john's, a monastic and college community nestled on 3000 acres of lake and forest in central minnesota. but on this september day, the attention was on sounds coming from inside the abbey church. [organ music] >> it is really, really stunning.

[organ music] fred: world-renowned organist stephen carr was rehearsing for the inaugural concert on an instrument that has been newly expanded to flood this sanctuary. >> is a surprise for people who perhaps have never heard an organ recital and wonder where all of the sound and color is coming from, because you cannot see it. most of what you will hear is behind this red scrim. i've never seen anything like it. fred: i got a chance to peek behind the screen thanks to casey maren. >> all of this below the level of the second floor is the original organ. it works beautifully for what it was built to do. it just wasn't quite powerful enough for this room. fred: a st. john's graduate and organ builder himself, he has maintained this one for 45 years. >> you can tell that is in tune.

we ended up preserving the old instrument and building upon it. the new organ tops it off and gives it the extra power it needed. [organ sounds] fred: many instruments use mechanical pumps to send air through pipes but this one uses electronic signals. to tune it, he uses a phone app. >> on the control side, things were up currently with the technology. on the sound side, we were back centuries. fred: the pipe organ dates back to ancient greece and its industrial scale evolution came long before the industrial revolution. >> in its earliest incarnations, it made more noise than pretty much anything before gunpowder. fred: michael baroni is a leading historian on the organ and host of a radio program,

pipe dreams. >> certainly someone who lives in the countryside, a farmer come into a gothic cathedral, and hearing the oan sound, nothing has been comparable in their life. it is astonishing. fred: it is godlike. >> indeed, it it has been thought to represent the voice of god. fred: the more hefty the sound, the heftier the voice of god and better. they went from three keyboards to four, and from 3000 pipes to about 6000 >> the organ is like a small city of 6000 people. 6000 pipes. half of them were kind of homesteaders when the church was built and the other half came in in the last couple years. fred: thousands of pipes, everyone handcrafted by a team led by martin. >> scrape off the paint. fred: he has worked for three

decades out of a converted schoolhouse near tacoma, washington. the larger base or lower end pipes are milled from hardwoods. some as tall as 32 feet and weigh up to 850 pounds. up the treble scale with tin and lead pipes, rolled, soldered and tapered by hand. >> now i have it ready to go on the voicing machine. fred: he relies on electronics to confirm what his ear is telling him, that the pipe is sounding the right no. the typical organ like the one at st. john's takes up to two years to build, ship and reassemble in its permanent home. an exacting, increasingly rare craft. only a few builders remain in business in america, most of them older, like martin, who trained in his native austria before immigrating to the u.s.

four decades ago. it was while he was installing the organ at saint martins -- st. john's, he had time for reflection, at about age 60, who would succeed him. the idea, why not move the whole eration to st. john's abbey? he is in his hopes on a campus of thousands of students with a history of woodworking. most of the organ is crafted from sustainable forests. fred: -- >> people will come up and that makes all of the difference, they have skill with their hands but also the attitude. fred: a passion for the instrument? >> yes, a passion for the instrument, a passion for the work people do with their hands. fred: sometime next year, he and his fellow craftsmen wl move into a newly expanded were

working -- woodworking shop. for one of the monks, it is a silken glove fit. >> our commitment to music and communal singing, communal using making, is an embrace of what the monastic tradition has offered for many centuries, and hopefully sustains us into the future. >> are you ready to play? >> as long as i am here. >> ladies and gentlemen, welcome to nights -- tonight's featured tist. [organ music] fred: this concert was a kickoff event into that future. [singing] in a nod to the benedictine

tradition of gregorian chants, he recruited a trio of monks. through the ening, he brought out the impressive range and capability of the new organ. [organ music] in a building that defied church tradition, on an instrument that is arousing embrace of it. for the pbs newshour, this is fred de sam lazaro in minnesota. judy: you have to be in awe of what they are doing. thank you. fred's reporting is a partnership with the undertold stories project at the university of st. thomas, in minnesota. ♪ and that's "the newshour" for tonight. i'm judy woodruff. join us online and again here tomorrow evening.

for all us at "the pbs newshour," thank you, please st safe and we'll see you soon. >> major funding for "the pbs newshour" has been provided by -- >> architect. beekeeper. mentor. a raymond james financial advisor tailors advice to help you live your life. life, well planned. ♪ >> carnegie corporation of new york. supporting innovations in education, democratic engagement and the advancement of international peace and security. at carnegie.org. the target foundation, committed to advancing racial equity and creating the change required to shift systems and accelerate equitable economic opportunity. and with the ongoing support of these institutions -- ♪

this program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. ♪ [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy.]

. hello,eryone. welcome to "amanpour and company." here is what is come ing up. >> volodymyr zelenskyy is there the end of war. >> i want to be clear with xi jiing i mean what i say and i say what i mean. high stakes, reasonable expectations as biden and xi meet face-to-face in bali. where does the super charged u.s. china relationship go now? i ask two former government officials. victor from beijing and michael

beckly from the