tv With All Due Respect MSNBC November 30, 2016 3:00pm-4:01pm PST
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pastpast o , little bit. it is fascinating. trump is appointing he is familiar with. the people he is familiar with, billionaires. we'll see if this changes going forward. "with all due respect" starts three seconds late. >> with all due respect to steven mnuchin, your name i.d. needs a little work. >> today trump is expected to speak not steve munchin. >> steve munchin. >> steve, nukin. >> steve nunchin. >> the former goldman sachs executive. >> among them, that steven munchkin as treasury secretary.
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>> we've got much, much, mnuchin to talk about. wasn't long ago that there was a television ad that they have ronald our working class. so naturally when it came time to pick nominees for top jobs, trump has turned to east coast educated billionaire buddies. one of whom cut his teeth at, you guessed it, goldman sachs. the billionaire world is still trying to understand the choices. both were early trump loyalists. they're both friends of his. but their resumes are causing some cognitive dissonance up against the message that trump preached out on the trail. take for instance, steve mnuchin.
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he was the finance chair. he is a yale man. goldman sachs partner, he founded his own hedge funds and once closed on tens of thousands of homeowners while his institution was still receiving government support. he has finance someday big hollywood blockbusters including avatar and others. >> and then there's first quarter ross. he bet bigly on struggling industries like steel, coal and textiles. did he help restructure one of trump's struggling companies. and they have benefited from the very free trade policy that's trump has promised to rein in. this morning, mnuchin and ross talked about what they wanted to accomplish in a trump administration. >> our number one priority is tax reform.
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this will be the largest tax change since reagan. we think by cutting corporate taxes, we will create huge economic growth and we'll have huge income. >> everybody talks aut tariffs the first thing. tariffs are the last thing. tariffs are, get rid of the tear and i have nontariff barriers. >> so looking at these picks, mr. ross, mr. munchkin, aka mnuchin, is it fair to ask, whatever happened to populist trump? >> very fair. he could have made bernie sanders treasury secretary. this symbolic stuff is almost ridiculous. what will matter is the policies. these two guys, they're not
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creatures of government. they're not long in washington. if they help 4 million economic policy that's help middle class, class jobs, nobody will care about these things to their resume but it does put more onus on trump to recognize, that biography is not necessarily destiny but it influences things. he will have to come one some populist thinking. i don't think it will come from these guys. >> we fwaukds trump has pout a lot of congress friendly people and he's considered putting in a lot more. there's that. then there is this. these goldman sachs harvard yale guys. we'll talk about mr. mnuchin in a second. i can't are imagine anything less looks like draining swamp or being a populist or being an outsider than series of picks that trump has made. and i think there's a lot of political peril ahead. if the people who elected him, because of their anger and ire
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at washington, d.c., business as usual, wall street, suddenly start to think donald trump is turning into another crony capitalist. that's what a lot of these appointments look like. i have more to say about mnuchin which is problematic. i think trump is courting real danger politically by thumbing his nose at the populist outrage that put him in office. >> as best i can sample opinion and talk radio, cable news, there is. so more outrage about mitt romney than there is about this. i do think, if you're giving trump the benefit of doubt that he is playing grand strategic game in a sbleming his government. i think it is important. if you're an outsider to sends signals to wall street. i don't have a good sense of whether these two giuys will rik wall street. if that was the goal of picking them, if he will pursue policy that's create jobs, then i think
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a short term hit. any president will want wall street to feel comfortable with the new administration and the reality of how power works in america. >> anyone will want the financial markets. that's different from wall street. people can, i think if you got bob rubin and larry summers and any of the past treasury secretaries and asked them whether they knew steve mnuchin, thought he was a reassuring signal, monetary policy, i'll pretty sure they would say no. we had these discussions when he was head of the finance committee. he didn't assure anyone then because no one knew him. >> one of the weaknesses romney had, he never explained how he felt personably what happened to people who lost their jobs or were hurt financially. i really home these guys are pressed by both parties. both are involved in things hurt
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consumers and workers. >> we have to say joust mnuchin. some people need on focus one west on. this bank out in california the man owned. he is accused of having improperly foreclosed on homeowners, red lining, a lot of bad stuff. we have to look into this more carefully. >> congress did you think during confirmation. he needs on explain how he feels about what happened. donald trump is doing a victory lap right now into tomorrow over a deal that he and the vice president elect had mike pence struck. it is the air conditioning b behemoth. they are going on keep the positions in i understand where pence is still the governor. trump and pence will travel to i understand annapolis tomorrow, they will travel to i understand annapolis tomorrow.
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it is the case that it includes some sort of pledge to work what the trump administration planned to work on. less administration and an overhaul of the tax code. the move though, of course, is not without its detractors. particularly those who think of it as corporate government policy. so clearly there is a big win for donald trump. even his detractors say so. is this a win for america? >> well, it is a drop in the bucket in terms of manufacturing jobs in the country and the kinds of transformation. if barack obama had done something like this, in the course of his eight years, republicans would be howling about picking winners, about industrial policy about, the intervention of government in the free market. and now donald trump will be hailed for having saved these jobs. i think it is bad economic policy. i think it is incredibly hypocritical for republicans to cheer this on when they would trash any democrat who tried to
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do the same thing. >> governors do stuff like the all the time. i think part of what trump has promised is for people to feel request about the country again. >> about jobs not going overseas. trump's basic claim is i can do industrial policy bauts i'll do it better. i will do it better for the market. we'll see the country needs to feel the possibility of job creation. long term, this is kinds of industrial policy that's not sensible. it will have every company in the country many trying to move to mexico. mark december 15. that's when donald trump and his family will make an announcement about how the president-elect and his family, maybe, just maybe, extricate himself from his company. he logged to his favorite phone app and posted this series of
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tweets. quote, i'll be holding a major news conference in new york city on december 15 to discuss that i'll be leaving my business ghb in total to fully focus running the country in order to make america great again. be i love when he uses the word hence. had hence, legal documents are being crafted which take me completely out of business operations. the presidency is a far more important task. having read that tweet storm, what are in your view, there have to be some. what are the most important had questions about how he will deal with his business? >> exactly how far away from the business is he getting? is he getting even close as something people would look at as a blinds trust some would his family have a role in
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government? i think he will say he is no longerer running the company, still benefitting from the company. still knowing what the assets are. i think this is headed into a place that will not be acceptable and i think a lot of republicans in:00 agree that it is not acceptable. >> the key phrase that a lot of government on experts are focusing on in those tweets, business operations. which is what you're referring to. that he will no longer be actively managing his businesses. big deal. if he continues to have a personal financial stake in those businesses and his kids are running them and there is nothing that resembles a blind trust, the conflict of interest problem there's remain and they will be as great as they are if he is running the coil. it is far from the maximum step and far from away from the problems raised here. >> it is so important that he do this right. my one glimmer of hope, he
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announced that he will announce this over two weeks in advance. there is still more time for people to influence his decision. for him the question is, whose ethical judgment accept using? they say he'll go every step he needs to. bla bla bla. they need to use someone's ethical judgment had is pristine. this is how far you need to go. even if it means giving up yourer personal and professional county for decades. >> let's be clear. the top ethics lawyer in the obama administration and the bush administration have come together in a bipartisan fashion which is liquidation and a blinds trust. the "wall street journal" editorial agrees. that's the standard i'm using. we'll talk about the leadership election democrats held today with an unsurprising result after these words from our sponsors. delicious. perfect.
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last week,er tim ryan told us that he had decided to challenge nancy pelosi as party leader because his party doesn't win anymore. the vote was this morning and the winner is -- nancy pelosi. she kept her post by pulling in 134 votes. a third of them cast votes for ryan. this is after another election day. what does decision to stick with nancy pelosi say about how seriously the democrats taking their moment of reckoning? >> look. if they had toppled pelosi, there would have been more disarray. while tim ryan has some strings, i don't think he could lead them to the promise lands. a lot of democrats so consumed with the problem there's. the soul searching should have begun a long time ago. during last eight years they've lost the house and the senate.
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they've lost a ton of state legislative seats. i think today is on balance because the alternative was probably better for the party because they need some stability and pelosi has fundraising and other strengths but man, they need some change and today did not bring it. >> i have a lot of sympathy for paul ryan. thor party needs to focus. i'm very sympathetic to his cause. i do agree with the arguments you just made. in the ends the legislative leader in the house is not the defining ideological figure in the party. it is someone who needs to be able to work the legislative levers to maximize the leverage the house has. there is no one better than that than nancy pelosi. she is a be huge albatross in some ways but she is probably
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the best person than running a floor fight which is what the democrats will be in a lot of if they will try to restrain donald trump and the republicans over the next two years. >> the question is where do stars come from? big ideas, star power, the ability, where do they come from? they come from the governors. maybe from a senator. er rarely does anybody come to that level from the house. it happens. >> paul ryan, newt gingrich. but the party right now needs ideas. and they need ideas that show that they work. as you sugds, somebody in the minority in the house won't be able to put forth ideas and say here's how they're changing the real lives of real people. the least important battle ground places where they need start advancing young leaders. the senate is important. governors, statewide office holders. >> i was struck when ryan was on the show. the arguments werer impressive
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steals the spotlight. i'm referring to michael steele. a man who likes to be seen whenever possible. chairman, welcome. >> what's up, man? how are you doing? >> you've been in public elected nofs maryland. the state national party chair. you have some establishment ties but a great feel for the grassroots. explain to me the mystery. why is the grassroots of the party, the populist wing, not rebelling at the notion of all these billionaires in check policy positions? >> there is a little quiet rebellion going on right now. folks are not happy. some of that has been articulated by kellyanne conway. we've seen how that has played out in a broader sense. there is some concern. that folks want to have a wait and see. th trust donald trump on a lot of this. they think that there's a method to his madness in regard to bringing in people who, some would perceive to be as part of making the swamp, the swamp and
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using them instead to help clean the swamp. so we'll see how that first 100 days goes. how the policies roll out. backing off certain things. people are raising their eyebrows a little bit. i think by and large donald trump is getting a greater pass on this than any other republican in his position would at this point. >> yeah. er they're selling access at the convention. gave million bucks, get access. this is swamp personified. the phrase, drain swamp was chanted, what do you thinker people thought that meant? >> good question. from what i understand, what i myself thought it meant was, we're not going to play in that swamp anymore. we're going to drain it the. we're not going to rely on the establishment types to get job done. we're not going to rely on those
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who are at the government. we're going to bring in new voices, new faces. men and women who are outside of this complex, if you will. and have them come in with this idea, the core idea of making america great that again across the board. now, you can argue that bringing in a lot of these folks, particularly those who have never had government service you understand their belt is a form of doing that. they happen to be billionaires. he didn't say that he wouldn't use billionaires to help drain the swamp. he quite along the way said that there were a lot of these guys that he wanted to bring to the table. because they had a real world experience that washington was missing. and i think that, mark, is where folks are beginning to trust him more on his instincts about what these individuals can do relevant to this idea of making america great again and cleaning the swamp at the same time. >> billionaires are good drainers.
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>> apparently. >> i'm looking it's a your incredible argyle sweater. i have an early christmas gift for you. it is my team bigly t-shirt. i'll give it to you next time i see you at christmas. you are on team bigly. you could be one of the co-captains. here's the question i want to ask you. you have, the goldman sachs, the billionaires. right? a bunch of members of congress who have been appointed already and a bunch of others considered. you have trump away from repealing obamacare on day one. you have maybe actual tariffs isn't what we want to do west don't want to slap big imports against foreign governments. what is the place where all of this signifies political peril? these are all -- there's a whole variety of things. what is the thing go that trump could do, do you think, that
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could actually turn his voters, his supporters away from him? what is the red line that he can't cross? >> you know, that's another good question. i don't think there is a singular red line. thinit is a culmination of everything you're saying. if the backing down off obamacare combined with the softer approach to immigration where the wall isn't ten feet, it is actually a foot and a half. those things in combination i think will do a lot of damage. there is a lot of buying into this idea that you're going to come in and shake this system. you're going to turn it out. the voters have mds, and you've talked about this and voted this. they controlled this. we got this. not the establishment. not the people who full levers from behind the scenes but we the people have this. that's why they struck with trump. when the never trump stuff
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started. when romney was doing his thing. all these people were piling on. they stayed true and gave him 14 million more votes than anybody had ever received as a republican nominee. so trump cannot lose sight of that. and i think if he starts in combination of looking like old washington, he is going to have a real rough time of it. >> let me ask you a question. pre tends like you're a democrat. if you were running the democratic party, would youer stris democrats to have the approach to trump that republicans, to oppose him on everything. or would you advise democrats to lay back ask let trumpism potentially collapse you understand the waeeight of its n contradictions? >> i think the latter. you cannot approach this with a broad brush. what will happen is when trump
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pushes back, you wind up sweeping too. off the table. what i was doing. knowing what they will walk into. party on the rbl. just lost a bruising election to a guy you're scratching your head saying, how the hell did this happen? what did i was figured out where the targets were, number one. what were the subject matters that would drive my base. once you can identify those, you bring the base in. if you do something too big, it winds up biting you. >> we have a million more questions but the time guys are saying we've got to go. we'll talk more where the democrats and what the house vote means after this. [burke] hot dog. seen it. covered it. we know a thing or two because we've seen a thing or two. ♪ we are farmers. bum-pa-dum, bum-bum-bum-bum ♪
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have you. >> fine, fine. >> nancy pelosi wins. she wins easily. and yet a third of the caucus votes against her. among friends, we'll have one on in a moment. do they feel like this was a real mandate for her? >> i think there was some frustration and some surprise at the number of people who backed congressman tim ryan. i think it shows that you had somebody actually, somebody else been willing to step up against nancy pelosi, say the congressman from new york, they might have actually beaten pelosi. that shows some legitimate problems for her. at the ends of the day, this is stale demonstration that her style of politics is what they
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need. they need somebody who mass iron will that she has become known for in an age of trump, that house democrats are going to serve more on, at least attempt to stand in his way to force republicans to make difficult decisions on say, the debt ceiling, some of the other issues. she's been there in the trenches. she knows how to do it. and i think her allies feel like that's what they need. they won't have any new faces. it is you understand 50 years old. i think the frustration that you saw today. >> so nancy pelosi will be in charge again. if all goes as planned for her to get every break. if they execute perfectly. what is her scenario for 2017 pass good year for house democrats? >> well, it is tricky as always.
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they have been bleeding ever since nancy pelosi ended her speakership. i think one of the key areas of real frustration for the people who opposed her is the chairmanship of the campaign committee charged with reelecting democrats. i think there is a real feeling that the focus and the strategy that pelosi has brought to that involves a lots of fundraising, messaging that really appeals to people on the coasts of the country but is missing out on the middle. i think the challenge for pelosi going into the next election psych sl to figure out. how do we balance the main message of the democratic party, what it has become. the people who actually voted in larger numbers for hillary clinton than donald trump in the popular vote, while still expandsing the number of seats that they have. that's a very tricky line to walk. and it is not clear to me yet how they plan on doing it.
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>> we talked earlier about trumpbl's place holder, trying to deal with his family business and the potential conflicts of interest. my sense is that a lots of republican members of congress are really concern birthdays this. what is your sense of it in republicans on the hill had. right now when i've talked to republicans, they've said let's give donald trump half a minute to deal with this. in saying that, they're saying he needs to deal with it. and i think there has been some, that. the reality is the difficulty day to day for the members here is having to answer for every single one of the things trump says or does or in this case, his conflicts of interest. he has said hey, i'm going to mick a statement. i think they will expect to see some action. i think this general way of a interacting will be something that drives a lot of what we
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talk about for the next year or so. this tension. i think you're seeing it play out in the cabinet picks, for example. i've had one cabinet person say does trump really want to make us vote for david petraeus or rudolph giuliani that would put us in a difficult position? you're already seeing the pressures ramp up. that's one good example. >> magnificent to see you. thank you. >> had thank you for having me. >> we'll now turn to the know democratic congressman, let me ask you this. be your woman won. nancy pelosi going to lead your party again but she lost a third of the caucus. what do you think she should take as the message from that long block of discenters from having her lead the caucus going forward?
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>> thank you. our leader won. she ernlds the trusted of 68% of her colleagues flag she said she had 66% so she came in a little higher than she expected. she can still count and she can still lead us forward. a good day for democrats, unifying. craft a message can stay connected with all americans going forward. >> i appreciate answer but you didn't answer my question. what should nancy pelosi take from a thirds of the caucus didn't vote for her. >> i look agent it as two-thirds voted for her. i think this was a healthy exercise for the caucus is that she still has overwhelming support from the party. i hope the people who voted against her will step up to shape had what's next. >> congressman. thank you for being on. can you think of any issues
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leader pelosi is more liberal than working class voters typically are in places like ohio, michigan? >> working class voters want an economy that will work for all of us. so on i think it really matters to working class people. they want a fair shot. you're seeing donald trump puts on a. . out a plan to unravel frank. he is refilling the swamp with from filling with it recycled water. i think our message will had connect. >> are there any issues you can name, name just e, where you think she might be to the left of the people who helped gln get elected? >> this is not about one person representing every part of the democratic party. i think she will rely on different people in our party to go across the country and carry
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that unifying message of all of us. i reject the idea that she was on one be person as shoulders. i came in with $100,000 of student loan debt. she said find people with those same issues. we she is trusting other members in our caucus to not just have her be the leader but for all of us to play a role. >> so let me ask you a question i asked michael steele sflt it your view the way democrats should approach donald trump and his agendas. which is to say cooperate with nothing on. pose with every quarter. or do you think she make common cause with trump where you can finds areas of agreement? >> well, first, i think we have
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to prog donald trump is a man who has no core set of principles. he is willing to say one thing and do another. it is very hazard to tell what he truly believes in. if he truly believes in reforming and upgrading our country's transportation infrastructure networks, then i think we can work with him. what he means is corporate tax breaks and no real investments from the federal government, i don't see being able to work with him. we can and should work him on that. all right. congressman, thank you for coming on the show. making your first experience and doing a pretty nice job. >> up next, more on that man named munchkin or mnuchin. whichever. had the if you happen to be
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writers, max, welcome. what kinds of guy is mnuchin? is he funny? stuffy? what is he like sf. >> if you're going on make up a book, write a novel about a guy who just had the perfect elite career where everything went his way, it would be steve mnuchin. yale, he was the writer of the news, he joined goldman sachs where his dad had been a partser in and so beloved that everyone called him coach. he made partner himself. then steven sgenlt ran hedge funds money for george soros. then he became a hollywood producer. then he bought a bank and sold that. now he will apparently be the next secretary of the treasury. >> is he ideological in any way? >> i think the question about what be steve mnuchin believes in, nobody knows. the thing that people associate him with, what is stounldsing is
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that correct he was at the top of goldman sachs and now he'll be joining steve bannon, former goldman sax colleague, and the trump transition team member, apparently he will have a trump job as well. >> yeah. so you know, hillary clinton, who donald trump excoriated for palling wraunlds goldman saxs. he paid a lot of money. does this not wreak of the most rank hypocrisy? >> i think if you were to list the reason ideas hillary clinton lost, the fact people just assumed that she was really close, not socially but also ideological with wall street. that has to be one of the top reasons. people were really suspicious the she made it to wall street, she would bring along her wall street friends. >> donald trump does too.
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er this morning i made some calls. and i said to hedge fund managers, do you think trump support here's loved it when he attacked wall street. do you think they'll be disappoint disappointed? their angry was like, please. they have no idea. i want to ask but steve mnuchin. one west. let's talk about that. has the mortgage lend per has been accused of foreclosing. it has been accused of red liningful there are housing activists up in arms. >> i think one of the most important questions. steve mnuchin told zack and i that he was sitting in his office in 2008 watching tv. i got this story confirmed by someone in the room with him at the time. summer 2008. he was watching tv, the news. and he sees people lined up to
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pull their money out of back called indy mac. and he said i've seen this before. we are going to make money on this. i'm going on buy you that bank. it was indy mac. it was a failed bank. i think it was one of the biggest bank failures in the history of the united states to that point. steve mnuchin bought with it john paulson. he bought with it george soros and he rebranded it. one west is what it is called now. and i think it was profitable within a few months. the fdic guaranteed after a certain rt point, they wouldn't to have eat up any of the losses. so they got a great deal on it. to be fair to steve mnuchin, you have to admire that he believed in trump when everyone else assumed he would lose. he bought this bank just at the bottom. things were terrible. so he had a good instinct.
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on the other hand, he sold to it cit. and there are nonprofit that's say that one west really stands out for sort of awful foreclosure practices. there is a group that accused them of foreclosing on something like 36,000 homes. i'm pretty sure it is more than 30,000. and more importantly, they accused them of not going into neighborhood that's are predominantly black and latino. they deny it. but he will be facing some pretty super just questions over the next few weeks. >> all right. thanks very much. appreciate it. we'll be right back. nominations and mike pence' trip to washington and more. i'm happy. it's medicare open enrollment. have you compared plans yet? it's easy at medicare.gov. or you can call 1-800-medicare. medicare open enrollment. you'll never know unless you go. i did it.
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the level of quality, the star power in this block, staggering. jacobs, my question to you. i just got an ploil from donald j. trump. it is about the thank you tour which gives the timing and the venue for the event in since since that we already knew about. what more do you know? >> what we know is it is not going to just swing states. it is going to states that mean something to donald trump and his campaign. we know the schedule. we were told it is for planning purposes only. i do know that one place they'll go is mobile, alabama. a place that is really special for trump and his campaign. they attracted about 30,000 people there last sumner august of will' 15. it was a symbolic moment when they realized they had a movement going on and they could take it somewhere.
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>> anybody that wants to go look at it can look at that rally. you're in washington, d.c. where mike pence was today. tell us about the role pence is playing in this transition. particularly in the capital. >> yeah. it has been really interesting to watchful look where mike pence has been. really important places and deals within the last 24 hours. all over that carrier deal. meeting with condoleezza rice. you can imagine it wovl more difficult with donald trump. we are looking at two twitter feeds. mike pence where he was talking about his good friend condi rice. her last tweet october 8 says enough. it is a link to a facebook page saying donald trump should not be president of the united states. so there you have it. in many ways, mike pence is, the offers for trump some version of what joe biden offered to
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president obama. bhau is an added twist. he has the governor experience as well as the congressional experience. you know, the reaching across the aisle part is maybe a little more difficult for mike pence given his ideological record. in terms of how he carries himself and longstanding alliances with policy thinkers, as well asser elected officials. he is a real asset to trump in the early days of the transition. >> all this focus personnel. what do we know about the policy development? is it that they are locked if and trying to start with the big things of tax reform and infrastructure? >> we got some hints today from steve mnuchin. he wants to do this middle class tax cut and not give a tax cut to the upper class which is a
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reversal during campaign trail said. and we are hearing things like anthony had scar moochy, one of the transition advisers, has given an interview talking about how tariffs won't be imposed, or only as a last ditch measure. we're getting little bits and pieces from trump advisers that they are coming together. creating ideas. i know the transition team has plan written up. whether trump goes with that plan is still up in the air. they are doing this subterranean effort of really plotting policy. getting ready to go. er the executive orders ready to go for the first couple days. >> margaret, we keep hearing about how the president obama is still talking on donald trump. still very much on track to help
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with the transition. the white house was in a little shock after election day. what is the sort of modus operandi in the final two months in office? >> there are a few things going on. for president obama himself, this was happening before hand anyway. it would have happened had had hillary clinton been the president-elect. president obama is trying to figure out how much time he can rest and how much time before he who is the reemerge. i think in a situation, it is really instructive for the white house. you saw a little irritation today in the white house believing josh enest was asked about it. and he said i'm going to paraphrase it. he said if he does it 804 times, he will have matched president obama. so president obama went around to plants trying to highlight
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that. i think partly frustratg, parting bewilledering and partly instructive to watch trump's early moves, and to try to guess, how long will it take before we see whether they succeed or fail or a little bit of both? so a represent the amount of calibration inside the white house as far as president obama himself and some of his key policy advisers. for the white house staff, i would say there is a tremendous amount of sadness and frustration and a lot for democrats in this town to figure out what jobs will be available for them in these coming weeks and months. >> we have very few seconds left. tom perez running for dnc chair? yes or no. >> i would say yes. why not? >> the next big appointment announced by trump in the cabinet? >> hopefully defense. >> all right. you were as awesome as i said you would be. fresher.
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find out what wall street is saying about the latest cabinet picks. right now. until tomorrow, we'll see you then. same bat time, same bat channel. coming up, "hardball" with chris matthews. >> stooping to conquer. let's play "hardball." a series of new announcements from the president-elect about his cabinet, his agendas, and not least of all, his sprawling business empire. last night mitt romney who is under consideration for secretary of state met with trump and be reince priebus over dinner eating frog legs and sc
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