in 2002, we had senator baucus. john was a staffer. we had nine democratic senators that we got to go along with medicare d and medicare advantage creation including senator kennedy. it took the sting out of it. it was partisan but it was far less partisan. it wasn't the knife fight for next six years. i think republicans are talking about it, they probably will repeal it to kind of create this cliff where we repeal it and you have to work to replace it. this is going to be my opinion, this is going to be not just repeal and replace. there is going to be a giant tax reform bill, trade issues, medicaid reform. they're probably going to do a giant first year reconciliation bill. they have to get a handful of democrats where or it's going to blow up. they have a lard time passing. there will be a lot of stuff in in polz wise. i think they will repeal it quickly because they spent six years screaming we hate obamacare. if they try to do replace plus all the other tax policies on a partisan basis, they're making a mistake. i doubt that will

in 2003 thank god we had senator baucus and those democratic senators of had to go along with medicare part d it took the sting out and it was far less partisan and it wasn't a knife fight so i do think they will repeal then you have to work to replace it but in my opinion not just dead giant tax reform bill but trade issues and medicaid reform into a giant first year legislation bill they will have to get democrats where that will blow up there was a lot of stuff in their policy why is. they will repeal quickly because they have today have spent six years yelling that they don't like it but to replace that tax policy on a partisan basis they're making a mistake and i doubt that will happen with those that work on the global tax reform that will take all year long i hope they do that it will be much more successful without will take all the edges off which is good in the long term. >> if you read the paper if you talk about what is the affordable care act, with guaranteed issue to eliminate the pre-existing condition, so what do you think are the two or three sort of things from the af

. >> jeff baucus is chief lebding officer at the local synergy bank.e remembers being very impressed. >> she's thought about this. she's thought about where she's wanting to go, how she's wanting to grow and expand. >> even though i was incredibly anxious, and i think that he had to have respected the fact that i was prepared. i knew what i wanted. i knew what i needed where, >> her key advantages were the fact that she was going with a franchise. she had a down payment that was suitable for the business type that she was going into. she had additional liquidity. she had some collateral to put up on the loan. >> my bank took a huge leap of faith with me. i'm fortunate to find the bank that i found. i applied to 25 banks before i got a yes. >> another factor may have been that it was a community banc. they were willing to meet her personally and factored in assets that larger national banks might have ignored. >> she had firsthand knowledge of the area and had a plan to go out and make her business successful that i don't believe would have come across

and gary locke, i have met him many times and max baucus is the outgoing, less contentious individualwhat money managers in the usa about terry branstad's appointment. concept of face and confusion dialogue is romantic but they can outwit you for a centur having someone who has been to that rodeo, who understands the program but has the stature and the prestige of the office i think is a brilliant move. i think it will be terrific. >> probably good news for iowa and the corn belt. number to export destination of iowa products after canada. cop, whohe is the good potentially plays the bad cop? >> trump, right? we do not know who will be secretary of state. his name has been and it about. you have to look at the treasury secretary and his pic is stephen minutes and -- mnuchin. trump declared china a currency manipulator. as head of treasury, he would be overseeing the committee so that could put mnuchin in the crosshairs of china. ramy: still to come, bloomberg markets asia is next. we have several more market opens in asia. yvonne: this is bloomberg. ♪ david: are we going to start just

. >> so one example of the sensitivity to hospitals with senator baucus in the jordan valley hospital, a cms regional administrator wanted to shut down in we talk to keep that hospital open they said if you shut down doc hospital level shutdown the regional office laugh laugh my point is members of congress use. [applause] [inaudible conversations] best. >> this morning i was encouraged by reports that after a number of its then starts fell was picked up on with continued conversations by russia and turkey to take place what we talked about using the same template that we created, there are individual cease-fire's worked out with the armed opposition group commanders and it appears for some period of time if it will hold or where it is, that i airstrikes have stopped and the cease-fire may be taking hold. i emphasize may. forces are beginning to move the of 21 buses and ambulances reached the checkpoint. this convoy a includes more than 1,000 people on their way to the turkish border. however, a big however, we have also heard reports a convoy of injured people was fired on by forces

when senator baucus was at cms, yet pretty bad. cms regional administrator one bed. they wanted to shut down. the regional office said bush had done the hospital. he showed them a hospital, i'm going to shut down the regional office. my point is members of congress, democratic chairman of the finance committee care a lot about their hospitals insist cms will also care a lot about hospitals. >> i met a former administrator. no one's asked me about the question, but i agree with tom that there's going to have to be some sort of consideration in for a massive hospitals will potentially incur greater amounts of incumbent baby care. if you look at the way in plan, reestablishing dish. potentially combining with medicaid dish covered the idea that ultimately it hospitals will be sharing pools of money where his referred medicare is this never-ending thing that could get greater and greater cannot think that that will ever happen again. it will be a shared pool. i'm mindful we're probably at a time and another additional questions but i have an obligation from the committee

committee that just -- a bus of house members, house minority leader's, house speaker nancy pelosi, max baucus was the senate finance chairman. chris dodd was the banking committee. and they sat around nancy pelosi's office and entire weekend, coming up with the legislation, $700 billion bailout, and a one point it was shelled diplomacy as the republicans were sitting in boehner' soffice, and schumer and rahm emanuel were sitting in a losey's office back and forth and hank paulson was the treasury secretary at a time, almost collapsed in the middle of the meeting because it was so exhausting. >> i want to take you back to september of 2008. particularly addressing the republican nominee at the time, senator john mccain. here's what that looked like. this cannot pass without strong bipartisan support. there will be some, at both parties will not vote for any plan. neither party has the majority, neither democrats were the majority party by a small margin, nor the republicans who are close to a majority. we will need broad bipartisan support, as many on each side of the aisle will just not vote

when we did that in 2003, we had senator baucus, john was a staffer. we had nine democratic senators we got to go along with medicare part "d" and medicare advantage creation, including senator kennedy. it took the sting out of it. it was partisan but far less partisan. it wasn't a knife fight. i think republicans probably will repeal it to create this cliff and you have to work with us to replace it. in my opinion, this is not going to be repeal and replace. it is going to be a giant tax reform bill, a lot of trade issues, medicaid reform. they are probably going to do like '97 and '90, a giant first reconciliation bill. they will have to have a handful of democrats. they will have a hard time passing it. i think they will repeal it quickly, because they spent six years screaming we hate obamacare. if they try to do replace plus these other tax prolicies, they are making a mistake. they will get a number of democrats that work on a global tax reform and budget, that will take all yaear long. it will moderate everything. it will take all the edges off

here's abc's danya baucus. >> reporter: questions growing if this tragedy could have been prevented. sunday the mayor saying they also want answers. o'mally, did activate a criminal investigation. that team is on the site and working in concert with our other law enforcement partners. >> reporter: the warehouse, known as an artist colony called ghostship, became an inferno friday night, killing a couple dozen people, including minors, even affecting first responders. >> this tragedy has hit very close to home for our agency. one of our deputies that we work >> reporter: and the agony is setting in for family and friends who are desperate to hear from their loved ones. >> i want to be there. give me some gloves. i got work shoes. i'm ready. let me find my brother. >> please just call us. we're all looking for you. your mom, your dad, everybody. your husband. please. can you just call any of us if you're around, something happened, we don't care, we just want to know if you're alive or they've been able to identify at least seven victims. the coroner's office here asking family members

i worked very hard with baucus, with wyden, and we did things to take care of some issues that they had. that's the first time it had ever been fully funded. cancellation indebtedness, that's a buzzword for people who would understand taxes a little better. but what happened is everything collapsed. they would try to get out of a debt they had. they couldn't because the i.r.s. would tax them at the value of it when they bought it. when things didn't work, it was unfair. and we got that changed. that was in the stimulus bill. we got that changed. let's talk about the economy a little bit. i know some of my democrat colleagues, why did you do that? here's what i did. i worked with republican senator don nickles from oklahoma, there was a republican president, okay? don and i talked about this. we knew that the administrations would change and it would affect every president, democrat and republican. it was called the congressional review act. what that said is the president promulgates a regulation, congress has a chance to look it over to see if it's too burdensome, too costly, too unfai

i worked very hard with baucus, with wyden, and we did things to take care of some issues that they had. that's the first time it had ever been fully funded. cancellation indebtedness, that's a buzzword for people who would understand taxes a little better. but what happened is everything collapsed. they would try to get out of a debt they had. they couldn't because the i.r.s. would tax them at the value of it when they bought it. when things didn't work, it was unfair. and we got that changed. that was in the stimulus bill. we got that changed. let's talk about the economy a little bit. i know some of my democrat colleagues, why did you do that? here's what i did. i worked with republican senator don nickles from oklahoma, there was a republican president, okay? don and i talked about this. we knew that the administrations would change and it would affect every president, democrat and republican. it was called the congressional review act. what that said is the president promulgates a regulation, congress has a chance to look it over to see if it's too burdensome, too costly, too unfai

leslie, prior to cms john served on the staff of the senate finance committee working for senator baucus and he served as vice president at ableer health before he joined cms. so thank you to distinguish pnl for change us. this is intended to being a dialogue. we have approximately 1:15, probably less at this stage and what i would like to do is start off with a few questions. i think there will be a lot of people interested in what's happening right now with the transition between the obama administration and the soon to take over trump administration in terms of transition policies. we have somebody who is the nominee for hhs secretary tom price. we have the nominee for cms administrator seema verma and so i'd like to start off the questions a little bit looking at transition policies and i think we'd like to move into more substance. but if any point in time anybody feels inspired to ask a question, raise a question, get it to microphone and we'll handle it that way. john, you were probably the most recent member of the panel to experience the transition to go through a transition fro

when we did part "d" in 2003, thank god we had senator baucus, john was a staffer, we had nine democratic senators we got to go along with medicare part "d" and advantage. including senator kennedy and it took the sting out of it and it was partisan but far less partisan so it just wasn't the knife fight to the next six years. >> i think they will repeal it to kind of create this cliff where rewe repeal it. but in my opinion, this is going to be not just repeal and replace. it will be a giant tax reform bill, a lot of trade issues, medicaid reform, they're probably going to try to do it the way they did in '97 and do a giant first year reconciliation bill. to do that they have to get a handful of democrats where or i blow up. so i think they will repeal it quickly because they have to because they spent six years screaming "we hate obamacare" and they're going to have a hard time not doing that but if they try to do replace plus other tax policies on a partisan basis it will be -- they're making a mistake and i doubt that will happen in the long run i think they'll pick off a number of de