tv Chris Jansing Reports MSNBC October 3, 2022 10:00am-11:00am PDT
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look how much it holds, and it still stays thin! it's the protection we deserve! think he's posting about all that ancient roman coinage? no, he's seizing the moment with merrill. moving his money into his investment account in real time and that's... how you collect coins. your money never stops working for you with merrill, a bank of america company. good day. i'm chris jansing live at msnbc headquarters in new york city. for millions of american in florida and the southern u.s., hurricane ian, the storm, has passed. but the misery, the heartache and the dangers persist. today search and rescue operations are ongoing particularly along florida's pairier islands as roads and neighborhoods all over the state
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remain flooded five days after the storm hit. the death toll now at 87. relief efforts also under way. but they're just barely making a dent for the thousands of people who have seen their homes damaged or destroyed and their lives changed forever. >> i've lost everything. everything. my life savings. my tools, everything. >> you hope for the best. >> yeah. but it's the worst. all the way to the ceilings. ceiling fans are down, walls gone. a half foot of mud everywhere. . >> nobody could get a hold of us. we couldn't get a hold of anyone else. it was just -- you felt like you were in, you know, you were the only person in the world. >> heartbreaking. plus, we're watching president biden, who is headed to puerto rico later this hour, to survey damage from hurricane fiona, which hit two weeks ago. he will travel to florida on wednesday. opening statements in a trial that could end up as a
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blueprint for prosecutions stemming from january 6th. stewart rhodes, the head of the far right group oath keepers is facing charges of seditious conspiracy, along with four top lieutenants. the charges are exceedingly rare. and so is the defense we're expecting. it is controversial and untested. we will go live to the courthouse in a moment. a different controversy after former president trump attacks mitch mcconnell online with comments criticized as having racist overtones and the conservative wall street journal editorial are reckless and an invitation to violence. are other republicans willing to stand up to a leader of their own party? we have a lot to get to. >> let's begin with desperate people trapped in the aftermath of ian and ongoing search and rescue in florida. guad van a gas and dasha burns
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is covering this in ft. myers beach. rescue missions are into the thousands already. what are officials telling you right now that they are up against? >> reporter: chris, we got a firsthand look at exactly what they're dealing with here. what you see behind me, this bit of damage here, multiple that over and over and over again. and that is what we witnessed when we imbedded with a fema team, florida task force 2, the same group, by the way, that was at surfside and that disaster. so this team has seen a lot. but this is a scale that even to them is overwhelming. we saw just how much they have to comb through to look for signs of life. also, chris, signs of death. it's something we saw as a team had to look for a potential deceased individual in one of the homes we watched them bring in what they call a human remains dog to try to narrow the area where they might be able to find this individual.
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heartbreaking, painstaking and painful task. chris, we also spent some time with the army corps of engineers who is here. i have to tell you, the scale and scope of this effort is just enormous. let me give you a couple of numbers here real quick from fema. they tell us this is their biggest effort yet. they have a total of 17 urban search and rescue forces out. 104 boat squads. more than 60 canines out in the field. and more than 1,200 personnel so far. that is likely going to keep growing. the army corps of engineers also has 800 people deployed across the state of florida. and there's the damage that you see, chris. and then there's the damage that you don't. and when we went out with the army corps of engineers brigadier general we went on a boat with his team to watch
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their appreciation as think did a hydrologic survey. it might sound wonky and technical but it is critical work. it didn't wreak havoc above ground but under water. debris, moving channels around. and think about the rescue efforts. sanibel island, right. you have to get boats to and from. you're bringing people, supplies. and you can't do that safely unless you know what's under the surface there. so take a listen to what brigadier general told me. >> it's interesting in a storm event like this the hazards and the problems you don't see. you don't necessarily see there's no electricity in an area. this is much the same case. where under water you don't know after a storm what ended up in the water. and our job in a federal channel is to go look under the water to make sure we can safely move traffic. >> reporter: they're using state-of-the-art sonar
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technology. they're going back and forth through these channels to open up these lanes so that boats can safely bring people to and from and eventually, hopefully, get the commercial operations back up and running, get the ports back up and running so the economy can begin to recover here as well, chris. >> that really boggles the mind. guad, there may be people who still don't have the ability to reach neighbors, friends, family members. is that better now? what are you seeing and hearing on the ground? is guad able to hear us? >> reporter: okay. we had some communication issues. chris, i can hear you, yes. so just before i was on, dasha was talking about the efforts that are being made in these hardest hit areas. so that's the area where there is trouble with communication, where they are using search and rescue teams to evacuate people. i wanted to mention there's entire communities where people, you just asked me about communication. there's other communities just like those where they are having
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issues communicating. so, yes, there's a lot of people. i just met a man minutes ago. we were out in one of these communities. he is trying to figure out what the next step is. and i think the first thing he wanted to know is where he can go make a phone call. before we get into part of the interview we had with him, i wanted to mention these hard-hit areas, ft. myers beach, and the other islands dasha was talking about, this is where search and rescue teams are still recovering bodies. this is where they are evacuating some individuals. this is where the emergency continues to take place. but there's thousands of people in other areas where property perhaps was not destroyed, where the structure still stands but the flooding ruined everything inside. they have no power. they don't know what to do. and thousands of people are just trying to figure out what is the next step? we went to one of these communities with members of the urban search and rescue and we joined them as they met some of the individuals.
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they ask me what should i do? should i clear my house? i have no electric, no phone. a man rode the storm out as his place was flooding and doesn't really know what to do. >> all of a sudden i said, hey, my feet are getting wet. water coming up through the floor. and all of a sudden, boom. that was within two seconds. it. >> was up to my knees. >> so you weren't able to get out? it was too fast. . >> we have no cars. no transportation. where the hell are we going to go? this is our home. this is it. >> reporter: so i wanted to make sure -- we showed part of this conversation because, just like him, i have met a lot of people who are outside their home taking out what they can. but they don't know where to go. so the message from the search and rescue team is they are trying to make their way to them. but keep in mind they are focusing efforts on rescuing the
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people they can. they want people to know property is not as important as life. and please be patient. the help is coming. chris. >> guad and dasha, thank you for all of your reporting for these many days. >> now, to the january 6th related trial being viewed as the most important one yet. the head of the oath keepers stewart rhodes in court this morning charged along with four other defendants. we're just a few hours into opening arguments. joining me now from u.s. district court, kennedy lane yann and msnbc legal analyst glen kirscher in. i understand court is in a recess. they have another 20 minutes or so. that have we heard so far? >> well, chris, the prosecutor opened and tried to lay out significant implications of this case. he said we have a history of the peaceful transfer of power in this country. these defendants tried to
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interrupt history. it's the first time in three decades the justice department has charged a crime of seditious conspiracy. they are saying they weren't just people who got mad and ran into the capitol and committed violence like a lot that were arrested in the january 6th investigation. these people, the prosecution says, were an organized conspiracy with a mission, and they approached in military formation and played video of two stats they call them of oath keepers who went into the capitol, one of which had a mission to find house speaker nancy pelosi. now, they were unsuccessful. these people, interestingly enough, were not accused, for the most part, of assaulting police officers. they are accused of interfering with police officers. they said this was an incredibly organized enters that began shortly after the election. and their goal here was to stop the county electoral votes on january 6th. . >> glen, i think there are two ways to look at significant implications. obviously, it's about defending
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democracy and the integrity of an election and not letting it be overturned. the other implication is legal. i keep reading this will potentially set the stage for other prosecutions. talk, glen. if you want to jump in, ken, feel free to. why is this so important for cases moving forward, glen. >> yeah, chris. as ken said it is not off the federal prosecutors bring seditious conspiracy charges. the last time was about 12 years ago out in michigan. and the charges didn't even make it to the jury. that's not a good sign. the judge dismissed those charges. so this is a real test for the department of justice. based on the facts and the evidence they have. are they going to be able to prove that this group of five defendants on trial entered into an agreement to commit crimes, specifically to try to violently
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overthrow the government. and i will tell you watching jeff nessler's opening statement this morning, they have a really powerful case. i was impressed they are introducing the words of the defendants themselves. when they said things like, we are taking the capitol. and then after it was all over they said, we took the capitol. and seditious conspiracy can be proved if you seize the property of the united states. even if only temporarily without authority. so at least early on it seems to be a pretty compelling case for the prosecution. >> would you agree with that, ken? >> reporter: yeah, absolutely. now, the defense in this case, chris, is that they're going to argue they were an unofficial militia ready to be called by former president trump under the insurrection act. they believe this was a corruption of the election and that they were there to act in
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an official capacity under the insurrection act if president trump called them. they had weapons, by the way, stashed in hotels in virginia allegedly. but of course the -- that defense is undermined by the fact that there are recordings of stewart rhodes saying that that was going to be their story. and the overwhelming evidence that stewart rhodes and other defendants sought to destroy evidence once they realized the fbi was onto them and investigating this alleged enters. that is a powerful part of this case, chris. >> a key question folks have, glen, is when a case comes up around january 6th is weather it could open the door to new evidence about the former president donald trump's potential connection to the rioters. is that something we are likely to see here or no? >> i don't think we're likely to see it in this trial. we will see some cooperating witnesses. that is members of the oath
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keepers organization that pleaded guilty, flipped and are expected to testify. but i actually think even if the prosecution had evidence that more directly involve the white house or the president, i don't even know they would want to use it in this trial. why? because the president is not charged with a crime. and that could actually distract the jury from the issues they need to resolve, which those issues are that these five defendants commit the felony crimes with which they are charged. so i don't think we're going to hear much about former president trump in this trial. >> glenn kirscher in, ken dilan yann, i know you have to listen to what's going in in the courtroom. i'm sure we will hear from you throughout the day. were toer president trump is intensifying his attacks against the top-ranking republican. why he says mitch mcconnell must have a, quote, death wish, and
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how his fellow republicans are responding. back in business. concerns in a majority of americans now about the supreme court as it starts its term and the critical cases the court is going to hear. you're watching "chris jansing reports" only on msnbc. ports" oc ♪♪ subway's drafting 12 new subs for the all-new subway series menu the new monster has juicy steak and crispy bacon. but what about the new boss? it looks so good it makes me hangry! settle down there, big guy the new subway series. what's your pick? ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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"the wall street journal" editorial page adding to the growing number of critics condemning donald trump for appearing to incite violence against mitch mcconnell, saying he must have a death wish and used racist slurs against his wife. he has said nothing. the head of the republican senate committee, rick scott, was asked about trump's remarks in two separate sunday show appearances. >> you're a member of the senate gop leadership.
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are you okay with this? >> well, i can never talk about responding why anybody else says what they say. >> i quoted you saying mcconnell has a death wish. he said racist things about elaine chao. the language is what i'm talking about. suspect that>> i -- i think we figure out how do we start bringing people together and have a common goal to give every american the opportunity to get a great job, their kids to have an education, they believe they can be anything. >> i want to bring in founder of country over party and msnbc political analyst. he said it's never okay to say something racist. but mitch mcconnell has been a republican member of congress for 30 years, a leader in some way, shape or form since 2007. when you expect some republicans to stand up and say this is not okay? . >> well, chris, you know what,
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we have gotten so used to it the shocking statements that donald trump makes that sometimes it passes over when it shouldn't. and that's part of the problem. donald trump i think is very predictable in his outrageousness, coarseness, cruelty and the crazy things he says. but what i point out in this question and the beginning of this interview is the fact that no republicans are standing up against him. i think it is a reflection the fact that a majority opposes donald trump, a vast majority supports him and wants to hear from him. the first is kentucky republicans. you look at kentucky republicans and polls among them, mitch mcconnell in kentucky is far less popular than donald trump. and so i would expect these kind of things that he says, as "the wall street journal" no paragon of liberalism points out, is almost a death wish for, in his own words, for mitch mcconnell.
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and the racist terms for his wife who served in donald trump's cabinet. and i think i'm continually shocked not by what donald trump does but the fact that republicans, including mitch mcconnell himself about his own wife and himself, refuses to stand up against donald trump. and i think it's only politically dangerous for them not to do that. because, as these midterms approach, the more and more this is about donald trump, the more and more the majority will turn against the republicans. >> well incident to read the last part of the editorial from the wall street journal. here's what it says, matthew. five weeks from election day, mr. trump could be working and spending money. instead he is attacking mr. mcconnell and miss wife as a personal political vendetta and putting every republican candidate on the spot to respond to questions about the trump ramp. mr. trump always puts himself first. with this rhetoric he may put
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others at genuine risk of harm. what do you think the real harm is? and i guess i wonder, and this isn't the first time, that the wall street journal has come out against something that donald trump has said or done. but do you think that any of this has any impact because, to your point at the beginning, we have gotten used to it, haven't we? >> the more and more donald trump does these things, the more and more they turn and say, we're done with this chapter. what's the best way to turn away from this chapter? the only answer comes in five weeks, which is the midterm. which is, in the public's mind, to vote against republicans who they think represent donald trump. that's the fundamental answer, the public's desire, as i said earlier, to turn the chapter and move on from donald trump. i think the editorial raises a vastly important point, which is donald trump, when he looks at public service, it's never about
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service to the common good. it's about service to his own good. that has been the case since donald trump came down the escalator when he launched his presidential campaign seven years ago. it's never about service to the country as a whole. it's always about service to himself. and at some point in time republicans have to stand up for the common good and say, though our party supports this guy, he is not in the best interest of the majority of the country. . >> well, he is still playing a will he or won't he game for 2024. and governor nikki haley was on the "today" show today and she was asked about a potential run. here's what she said. >> you said last spring if your former boss, former president trump, if he does decide to run, you will sit this out and not run. why? . >> we'll see if he runs. he hasn't said he's going to run. so, you know, we'll make a decision after the first of next year and figure it out. >> would you ever run against him? . >> it's not something i think
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about. i was proud to serve with him in the administration. it's something i can tell you i'm thrilled with the accomplishments we did together. we had a great working relationship. but right now we'll see what he does. >> that wasn't a no. but, i mean, is that just more proof that the republican field is essentially frozen in place until trump decides? >> well, i think in people's mind, like nikki haley, it's frozen in place because her whole reason for being subservient to donald trump. i think if a republican wants to be elected in 2024 that is not donald trump, the best thing they can do is to take on donald trump and say i agree with donald trump on the issues. i disagree with his style of leadership and disagree with the way he does this. as discovered in 2016, when you avoid donald trump and you don't take him on, he wins. that's what happened to the other 10 candidates that ran against him. they didn't take him directly on until it was too late. if you're a gop candidate that's
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not named donald trump, you need to take on donald trump. >> matthew dowd, always good to see you. thank you. >> thank you, chris. it is day one of what we know will be a blockbuster session of the supreme court with a series of high profile and controversial cases that have widespread implications for americans's lives. and the court is facing a skeptical public. check this out. this new poll shows 60% think the court is out of touch with most americans. one major case, and its aggressive agenda, will look at whether alabama drew its match toen somer whether they will have one black member of congress for the next decade. and there is a challenge to college emissions cases at harvard and the university of north carolina. in a case involving lbgtq rights, a web designer who refused to create wedding websites for gay couples argues it goes against her christian beliefs. today the first case to be argued is an environmental
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dispute against the epa that could reduce the number of protective wetlands under the clean water act. for the first time since the pandemic began, members of public will be able to attend these oral arguments and see a court that still has a conservative majority and the first black woman justice, ketanji brown jackson. adding for the first time four justices are women. after a brutal market for housing, the dow up almost 700 points right now. but, according to experts, that trend might not condition continue. one morgan stanley strategist said without a pivot by the fed, stocks will continue to fall. we did see a major pivot in the uk today. new prime minister liz truss forced to abandon her plan to cuts for the wealthiest.
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coming up, a new victory in ukraine led to a big headline from a former top u.s. military officials. russia's army may be on the verge of collapse. the warning signs the world is watching for. you're watching "chris jansing reports" only on msnbc. jansing reports" only on msnbc what will you do? ♪ what will you change? ♪ will you make something better? ♪ will you create something entirely new? ♪ our dell technologies advisors provide you with the tools and expertise you need to do incredible things. because we believe there's an innovator in all of us. we need to start hiring freelancers. no, we need butts in seats. that's what jack would've said. stop worrying about what i would've said. i'm dead! [screams] all these old rules are made up. so why not make up something better?
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we have some breaking news out of moscow. a court said october 25th as the date of appeal by wnba star brittany griner. she is serving a nine-year sentence, having been found guilty of carrying cannabis cartridges in her suitcase. they have been working to have a deal to release not just brittany griner but paul whalen as well. at this point the news is october 25th, the russian court will hear brittany griner's appeal on her drug possession charge. and ukraine is putting new pressure on vladimir putin. russian officials in kherson announced they recaptured
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multiple offense if's in the city. and on sunday, ukrainian soldiers raised their flag. this was a military as well as a symbolic victory. i want to bring in nbc correspondent jay gray and national security and intelligence agent. >> reporter: the counter offensive is making big moves. and it's not ukraine officials announcing this, it's the kremlin saying our troops have moved back, withdrawn. they won't say retreat but that's basically what happened. we have seen video of tanks leaving these areas and getting back out of where they had been occupied for months. it's been a strong move to the south and the east as well. they are closing in, inching closer to kherson.
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we know several settlements had been taken bibi ukraine forces and continued to push. the question on a lot of people's minds right now is what comes next? this comes days after you talk about the illegal annexation after, again,s vladimir putin warned of using strategic nuclear weapons to defend what he claims is now russian federation territory. but the kremlin, moscow has been unbelievably silent as all of this has unfolded. a lot of people waiting to see when is the shoe going to drop? who wh is something going to happen. we know the head of the chechnyan republic made for the first time the clear suggestion that they should impose a nuclear strike, the highest senior member of putin's government to outwardly say they should use nuclear weapons.
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a lot of people here now very worried about what repercussions will be. it is not flowing down the counter offensive at all. >> jay gray, thank you. mark, that is the critical question, what comes next? i have heard everything from we're looking at a long, cold weather that is essentially a standoff to former three-star general h.r. mcmaster who said we are at a precipice of a collapse of the russian army. what is your assessment? >> it's really interesting. there is a giant delta, difference between vladimir putin's rhetoric and this kind of pomp and circumstance we saw in moscow with the annexation of the four territories and the meeting of various officials. they are all clasping hands together and singing russia. there is a difference between that and on the ground where russia is losing and losing badly. it is quite clear there is a huge capability difference between what vladimir putin wants his military to do and ultimately what it can do.
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you know, on a good note, like the one entity that does not believe that they will have this frozen conflict in the winter is the ukrainian military who still has their foot on the gas pedal. and i credit the biden administration for not only continuing but advancing the provision of advanced weapons and intelligence support. because ukraine can win this thing. >> well, one of the fascinating things that i read over the weekend in the "new york times", they were speaking to ukrainian soldiers who said they actually went up against russians who were wearing flip-flops and were malnourished and barely had any water. they talk about them advancing on russians and the russians turning and running away, reports that we have heard before. where does that leave vladimir putin? >> well, you know, again, the russian military is on the verge of collapse. you know, for a lot of, you know, kind of the traditional conventional wisdom, first it was kyiv would fall in 36 hours.
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but incredible ukrainian resolve, advanced weapons and support from the united states are frankly kind of the mist we all had has led to the point of a potential russian military defeat. and i think that's where this ends, when vladimir putin has to withdraw. i don't really fall for this nuclear bluff of putin. i think the u.s. intelligence community, air, sea, and land base systems, the u.s. administration has been very clear they have not seen any movement of this. we will see disclosures. a lot of pressure will be put on china and india to have russian stand down. and very clear u.s. messages, they want to not do this. i see this ending sooner rather than later. and with a russian military defeat. >> who would have believed this eight months ago.
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we're awaiting president biden to arrive in puerto rico. he will speak there in the next hour. we will be there live. i'll also talk the a fema official about the massive search and rescue operation happening in florida as we speak. you're watching "chris jansing reports" on msnbc. reports" on msnbc. this is the moment. for a treatment for moderate-to-severe eczema. cibinqo — fda approved. 100% steroid free. not an injection, cibinqo is a once-daily pill for adults who didn't respond to previous treatments. and cibinqo helps provide clearer skin and less itch. cibinqo can lower your ability to fight infections, including tb. before and during treatment, your doctor should check for infections and do blood tests. tell your doctor if you've had hepatitis b or c, have flu-like symptoms, or are prone to infections. do not take with medicines that prevent blood clots. serious, sometimes fatal infections, lymphoma, lung, skin and other cancers, serious heart-related events,
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by the end of this hour, president biden will be touching down in puerto rico nearly two weeks after hurricane fiona wiped out power to the entire island. 93% of customers do have their electricity restored. that still means thousands are in the dark. this will mark biden's first time during his presidency where he is expected to commit $60 million in aid and where many felt left behind in other devastating storms. >> i'm going to puerto rico because they haven't been taken care of. i want to see the state of
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affairs today and make sure we. >> and gabe gutierrez is in san german where biden is expected to speak. gabe, what is needed there as you continue? you've been there for a while. and how far are officials telling you $60 million could go in helping folks on the island. >> well, chris, it might not go a very long way considering the stepped of destruction here not just from hurricane fiona but hurricane maria five years ago. this is one of the many washed out roads here in this part of puerto rico. the southwestern part of the island. as you mentioned, 93% of this island had power restored. but these are the towns that have not had the power restored. and we just spoke with a resident here just a short time ago who described being without power for 16 days now. she said her insulin is damaged. she said she is desperate and does not know where to turn and sat on hold trying to talk to
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fema for hours. and that is what president biden will hear as he arrives here in ponce in just a short time. he is set to speak and take part in a community event packing supplies for some of these hardest hit regions. the southwest side of the island there is an urgent effort to restore power. we spent the modern with crews from the private company that took over power transmission on the island. they were trying to restore power to neighborhoods in ponce. it's these rural areas in the mountains that are having a very difficult time more than two weeks after the storm, chris >> gabe gutierrez, thank you for that. and i want to bring in the fema assistant administrator for field operations. let me start with what we just heard. two weeks after the hurricane hit in puerto rico and the president acknowledged they haven't been paid enough attention to. people are desperate, on the phone, waiting and waiting and
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waiting and can't get through to fema. are you doing enough? what are you looking at in terms of making sure the folks get the help they need >> thanks for having me today. i think it's important to understand that the situation on the ground continues to evolve in puerto rico. our administrator will be there with the president to see firsthand the ongoing response of recovery operations. for those people who are having access problems and need assistance, i would really encourage them to not just to try the phone number at 800-621-fema but download the fema app or go to disasterassistance.gov to register for assistance >> they may not have access to a computer or phone given what they have been through. >> sure. sometimes power -- >> cell phone, obviously. >> right. right, of course. i would absolutely recommend that those people seek help from their local officials in making
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sure they can communicate what their needs are. fema and local and state officials are going door to door to make sure we get assistance to those who need it the most. i can assure you we will absolutely make sure the people get the help they need. >> and wednesday the president is going to see firsthand the magsive devastation in florida. some of those areas are simply unrecognizable. senior rubio said ft. myers beach no longer exists after hurricane ian. talk about the biggest challenge your team is seeing, are seeing on the ground right now. >> you know, there are major challenges after any disaster of this size in any community. our number one priority today continues to be life safety and life sustainment. that includes conducting search and rescue operations in those hardest hit communities to make sure we are getting people to safety. but in addition to that, for the
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people who are still in their homes or who need access to resources, we pre-positioned millions of gallons of water and millions of meals to make sure we can get those resources to people. and, again, we're going door to door to make sure we're able to register people for assistance, make sure that they are brought to safety if necessary. and if they do need additional assistance, again, that disasterassistance.gov is a good place to go to register for assistance. it really is an ongoing process. we are trying to make sure we are meeting people where they are and providing that access to resources that they need. >> and administrator chris well said the u.s. is prepared to spend an unprecedented amount of federal disaster aid post ian. we also recognize fema is managing storm responses in florida, north carolina, south carolina and puerto rico. how far can federal aid go?
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>> federal aid is a part of the story. we work very closely with our state and local partners to understand what the needs are in every impacted community. fema is built for this. we're built to help the state and local communities respond and recover from disaster. so every situation and every disaster is absolutely unique. and we really focus on making sure we are providing the state with what they need. and we'll be there as long as it takes. >> leilani, thank you for being with us. kim kardashian charged by the sec. you're watching "chris jansing reports" only on msnbc. "chris jsiag reports" only on msnbc (bridget vo) with thyroid eye disease... i hid from the camera. and i wanted to hide from the world. for years, i thought my t.e.d was beyond help... ...but then i asked my doctor about tepezza.
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million. for more, let's bring in nbc's tom costello. so give us some background on this case. what exactly are we talking about here, tom? >> back in june of 2021, when she, to her 330 million instagram followers, put out a message in which she says are you into crypto? she says this is not a financial advice, but sharing what my friends told me. now, at the very bottom, look at the very bottom. hashtag ad, the very last thing. the s.e.c. says that is not good enough. first of all, what's interesting here is that the s.e.c. is saying that you now, they will now treat these cryptocurrencies as a security, in other words as a stock or a bond and that means they will follow, fall under the same regulations, and the regulations say that if you're going to tout some security like this one, you have to disclose not just that it is an ad, but how much you are making to push that particular product. now, i'll tell you, that is a little built of the fine print,
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but a lot of people didn't know about, and i got to tell you, i covered wall street for many years, at cnbc, i didn't know you had to say how much you're getting paid, i talked to andrew ross sorkin today at cnbc, he didn't know either. could you expect that she knew or didn't know that she had to disclose how much she was making? $250,000 to push this particular security. now, i'll tell you that she has been sued, along with a lot of other people, for pushing cryptocurrencies that have since essentially crashed in value. people have lost a fortune, nonetheless the same thing here is this is a shot across the bow, the s.e.c. is using her as an example, to anybody else out there, pushing these very speculative securities, cryptocurrencies, if you're pushing that, you better subscribe to and adhere to the s.e.c. rules on full disclosure. >> so the lawyer said she quote wanted to get this matter behind her to aside void a
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protracted -- avoid a protracted dispute and sends a percentage and as you say a lot of people may not have known about this and maybe their lawyers didn't. >> let this be very clear. this is the equivalent of a traffic ticket for her, right? she is worth about $1.8 billion. she has to pay $1.2 million. she won't even feel it. it is like pennies to her. but the point really is, others have also been caught up in this. we've seen former boxer floyd merriweth her to pay a fine, steven seagall had to pay a fine and what about somebody like elon musk who comes out and pushes hard on cryptocurrency, in that case doge coin and he is an investor and should he disclose how much he's actually owning, what his financial stake is, when he comes out and makes these kinds of statements, and then what about if you make these statements, on national television, and in a super bowl ad, should those people have to
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disclose matt damon, how much he made for promoting cryptocurrencies, so this is really new ground, as the s.e.c. moves forward, trading currencies under the same rules that it would treat a security, a stock or a bond. >> tom, thank you. >> you bet. that will do it for us this hour. make sure to join us for "chris jan sing reports" everybody weekday at 1:00 and president biden expected to speak next hour live from puerto rico. "katy tur reports" right after this short break. s" right after this short break with merrill. moving his money into his investment account in real time and that's... how you collect coins. your money never stops working for you with merrill, a bank of america company. (vo the new iphone 14 pro is here. and right now business ownersg can get it on us at t-mobile. apple business essentials with apple care+ is included so you can easily manage your team's devices,
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book now at bestwestern.com. good afternoon. i'm katy tur. six days since ian swallowed the western coast of florida. six days of what feefls like the end of the world to survivors of that hurricane. just look at what's left. 600,000 people still do not have power. even more don't have running water. and with every hour, the worries continue to grow. and veteran search and rescue, we will speak to in a moment. the good news is that 1600 survivors have so far been taken to safety. many of them by helicopter as you just saw on those cut-off barrier islands. the bad news is that there are serious worries that others are still trapped
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