pat toomey became a formidable congressman, then a pivotal outside player, and finally a masterful and essential senator. pat's led the charge for his fellow pennsylvanians on one front after another. in one instance, he responded to tragedy close to home with a solution for the entire cou country -- heinous buck passing on child abuse and public schools, known as passing the trash, had led an offender who abused a child in pennsylvania to proceed to strike again in west virginia. with the help of the senior senator from that state, pat spearheaded legislation that compels states to crack down on this abhorrent practice. another time, through sheer willpower, pat literally became a lifesaving legislative guardian angel for a young pennsylvanian battling cystic fibrosis. sarah myrnahau was 12 years old when outdated and tangled rules around lung transplants put her young life in serious peril. pat rallied a coalition of members. they relentlessly lobbied the executive branch. a federal judge weighed in, and long story short that young lady got her transplant and still is with us today.

visit bairddifference.com. ♪ >>> coming up, senator pat toomey he's here in person.ounder of the stablecoin tether reacting to sam bankman-fried's interview from the deal book conference. we're going to talk about it and count down to the november jobs report it's all straight ahead at 8:30. don't go anywhere. pat toomey right after this. >> announcer: time now for today's aflac trivia question. in honor of national bartender day, what is the top-selling tequila brand? the answer when cnbcsqwk x"onnues "ua ga-a-a-ap! oh... hi. what's this, a hospital bill? mm-hmm. for 1,100 bucks? ga-a-a-ap! looks like your wallet may need a sling too. tell me about it. did that goat say "gap"? he's talking about expenses that health insurance doesn't cover. eh-ehh-eh! well i'm talking about the money aflac pays to help close that gap. aflac, huh? aflac! ga-a-a-ap! aflac! gap... uh-oh! that duck can motor! get help with expenses health insurance doesn't cover at... aflac! ...dot com. you ok, man? the internet is telling me a million different ways i should be trading. look! what's up

guest: i work for a variety of senators from jeff sessions to pat toomey who gave his farewell addressast week in the united states senate. and mike lee, i was the executive director of the steering committee it was a great honor to work in that fabulous institution. host: part of your work is taking a look at the effects of congress. you wrote a piece taking a look at the lame-duck congress. you call it a threat to democracy. can you talk about what's for the song? guest: in the lead up to the election, there has been a lot of talk about election deniers and discussion about threats to americans democracy and is helpful for americans, regardless to be concerned about their government. they want to make it better however they may see fit. with regard to the lame-duck, it was concerning to me because we have a congress and the standard practice is to wait until after americans vote. wait until after they cast their ballots to make important decisions. congress intentionally waited until after the election so that it could make decisions with members who are retiring and not seeking to c

pat toomey brings incredible cri understanding of finance issues and the economy.hose all came to the house at the same time senator moran and senator boseman all came to the senate together from the house and all those that have been a part of my work life for a f long time. after 9/11 we saw a new terrorist threat and we were in the middle of that discussion of continuity of government the government could change and we didn't think about what would happen if it did. dick gephardt who was democraticha leader at the time come up with a structure for post- 9/11 compensation for victims that worked and that now follows with a number of tragedies but something i was able to be there as we put it together president bush said we bring our enemies to justice are bringing justice to our enemies and for presidents have followed that standard. legislative highlights would include if nih increasing by 50 percent of eight years and senator murray and the commitment we made to healthcare research and mentioned senator stab in our earlier but the changes we have seen the last

pat toomey joins me exclusively ahead. ♪ >>> hello.'m jake tapper in washington where the state of our union is thinking about whose stockings might deserve coal from santa this season. while many americans are focusing on last minute shopping and holiday gatherings, legislators are facing one of the busiest weeks in recent memory. tomorrow the january 6th committee to vote on whether to refer criminal charges on donald trump to the justice department. on wednesday the trump era immigration policy known as title 42 will expire which will certainly bring even more asylum-seekers to and across the southern border, exacerbating an already horrific humanitarian crisis there that too few in washington are prepared to tackle. and by friday, congress needs to pass a massive funding bill to keep the government from shutting down with so many important priorities from helping afghan allies to protecting consumers from big-tech monopolies hanging in the balance. this busy lame-duck holiday season, just over two weeks before a power shift in wash

pat toomey, of course, brings incbp understanding of finance -- incredible understanding of finance issues and the economy. the longest relationships of course are with my house colleagues, senator thune, senator moran and i all came to the house at the same time, along with senator stabenow. senator moran, senator boozman and i all came to the senate together from the house. senator cardin, senator graham, senator cassidy, senator blackburn, senator brown, senator wicker and others have been part of my work life for a long, long time. together we faced big challenges. after 9/11, we saw a new terrorist threat -- i was in the middle of that discussion of continuity of government, the sudden realization that our government could dramatically change and we hadn't thought about what might happen if it did change. dick gephardt and i came up with the structure for post-9/11 exception for victims that worked and unfortunately it's worked following now with a umin of tragedies, but it was something i was able to be there as we put it together. at the same time, president bush said we bring our e

. >> pat toomey offered a customer farewell address on capitol hill. he has served in the senate since 2011. he talked about gop accomplishments during his time in the senate. madam president. >> the senator from pennsylvania. >> madam president, i rise for the customary farewell address, and i'd like to begin by thanking our colleague, and our leader, mitch mcconnell, for his very, very kind words. i appreciate that, leader mcconnell. i would also like to say appreciate the confidence that you have repeatedly placed in me. your recollections brought back many memories. one was the super committee. i served on the super committee, but what most of you probably don't know is that leader mcconnell had greatreservations about putting me on the super committee. oh yeah. and he grilled me for what seems like it was hours over several occasions. but here's why. he grilled me because he wanted an outcome, and his concern was will this fire brand from the club for growth be willing to compromise, be willing to reach an agreement that couldn't possibly be exact

i heard a classic pat toomey story, where a young intern in his office was excitedly telling his friends about the prestigious ivory tower path he was aspiring to. apparently, his boss, the senator, climbed in with something to the effect of, yep, that sounds great. but have you ever considered opening up a small business? so while we're going to miss pat around these parts, none of us can claim surprise that family and free enterprise have teamed up to steal him back can since we're talking about an all-star senate dad, let me but the it this way -- pat, your colleagues and i aren't mad, we're just disappointed. you've achieved so much. you've done just what you hoped to. congratulations, and thank you. mr. toomey: madam president. the presiding officer: the senator from pennsylvania. mr. toomey: madam president, i rise for the customary farewell address, and i'd like to begin by thanking our colleague, and our leader, mitch mcconnell, for his very, very kind words. i appreciate that, leader mcconnell. i would also like to say appreciate the confidence that you have repeatedly placed in

he and his colleagues have been looking to get something passed and then there is senator pat toomey is the top republican on the senate banking committee. he said he bought into the hype, the craze and then he was impressed by ftx and sam bankman-fried but now he is saying that there is a small window of opportunity to get something passed by the end of the year. this would be attached to a spending bill so it is not a broad sweeping change that will take place but it would have measures that would include a regulatory framework, clarity around the definition of a crypto broker but also a tax reporting exemption on crypto transactions that are under $50. >> what about the cleanup at ftx? >> this is ledger x that is basically the derivatives arm of the u.s.. it really was the cornerstone of sam bankman-fried's efforts. it is considered one of the most valuable assets associated with ftx and it is one of the very few pieces that are left. what we are hearing from our sources is that this unit is now for sale and attracting some sizable interest. there are bigger crypto guys like block

we also heard from the other side of the political spectrum, senator pat toomey spoke with bloomberghe is one of the people that bought the hype and the mania around ftx, and he is saying there is a chance they could get something passed before the end of the year. it will not be a broad, sweeping regulatory push, it could be attached to a spending bill. regulatory, and tax exception for crypto transactions under $50, and that means they could be used for small purchases. david: this still makes my head spin if i am honest. we haven't even talked about ftx and the cleanup ongoing. one of its units possibly -- and who would buy it? annabelle: actually, a few people could be interested. ledgerx, the derivative arms of ftx, the only business unit of ftx also regulated by the cftc. that was the cornerstone of sam bankman-fried's efforts and washington. we are hearing it could be up for sale. it is one of the few solvent pieces left in the collapse of the ftx empire. 10 businesses could be interested. some big investors as well. more around the valuation. that is still unclear. we know as

we also have to talk about the idea that the senate has already said, sherrod brown and pat toomey saidstatement that sam bankman-fried's counsel is unwilling to accept service of a su keenan. -- service of a subpoena. why he is testifying in one chamber as opposed to another is an interesting question. what he said today on his podcast is he wants to give a full account, rather than an incomplete account here. the point we've been making all day is why is he willing to give incomplete accounts to the media but not the lawmakers who are responsible for constituents and who have taken money from him in the form of political donations as well. caroline: just talking about media, this piece by the australian financial review about the inner circle powerhouse at ftx that were using i think it was telegram for communication, what did they call the name of the chat? >> allegedly wire fraud was the name of the chat with his inner circle. he responded on twitter and said if this is true, i wasn't a member of the inner circle, i'm quite sure it is false. he may be asked about this again. also on

joining us right now is senator pat toomey he's the lead republican on the banking committee.seemed like a very compelling witness. >> good morning, becky >> pretty thorough on things he took what a lot of people thought was going to be very complicated. he may not know where all of the money is, he very clearly laid out what happened. what more do you think you can learn from him today >> well, certainly we had hoped to have sam bankman-fried himself. i understand he's unavoidably detained so he will not be joining us, but, you know, i do hope to learn maybe a little bit more about how this went down, what was going on. we have kevin o'leary, who you've had on your show, he was an investor. the department of justice charges and the sec charges do allege fraud committed against investors. kevin also is in regular communication with sam bankman-fried so i do hope to learn some more about the specifics of what happened we're inevitably going to have a big conversation about where we go from here i think the testimony yesterday under scores a very, very important point. this real

republican side dominantly so the likes of the top republican on the senate banking committee, pat toomey says don't take this ftx collapse of emblematic of the risks in the broader industry. there is a lot of promise here and we don't necessarily need this regulation that has come back onto the table. >> there are technologies that show a lot of promise. just ahead we are talking india and when our next guest thinks about the global economic picture and why it is still fluid. our correspondent from mk global is going to be here. this is bloomberg. ♪ >> welcome back. it is about two minutes to the start of india's trading day. nifty's are under some pressure, in line with the rest of the region. the bilateral trade with china rose by one third. a setback for prime minister modi's drive to win the country off of cheap imports and promote a thriving domestic industry. let's discuss this with the lead economist at mk global. as much as he wants to wean the country off of china's imports, it gets addicted to cheap products at a time when inflation is a problem. >> i think one thing we noticed

they should be aware of getting roped into alliance with folks like mcconnell and the retiring pat toomey. the china chamber of commerce on issues that are going to come back to hump them, stay away from them as well. you want to campaign in middle america, you better stand for middle america. joining me as bob lighthizer, former trump trade representative. great to see you. what's the biggest problem with this reimagined tpp? >> let me say first of all, to your other point, the broader point. the republican party as the party of working people, period right now. big business is with the democrats. tech is with the democrats. the question that you save yourself, what can we do for working-class people that will create more jobs and raise wages for these people. you've got three things that a sensible republican can do. one, cut taxes. that will help jobs. cut taxes on business. not necessarily on individuals. working class people don't see that is in their interest. you can cut regulations which is also sensible and helpful. working class people don't see that is in their interest either.

lauren: 9 that we know of, one is republican senator pat toomey, a great example because he holds a couple thousand dollars worth, he says he's holding on for dear life even as he slammed the fallout of ftx and says it could have been mitigated if his fellow lawmakers got through a plan to regulate it. we know that one lawmaker sold their crypto holdings as congresswoman marie newman, volatility, and beyond capitol hill, hollywood. have you heard of michael key this, former agent who runs the vc fund the reportedly got $300 million? had ties to the clintons, the kardashians and elon musk and agents of stars like madonna. the new york post is reporting he promoted ftx to his circle of rich friends. if any of them are found to have been paid illegitimately by ftx or alameda that could be the court looks into this finds clawbacks to give back to duke investors. so it is getting more juicy. ashley: it will go on and on. fascinating, thank you. president biden admits there are problems with the inflation reduction act after french president emmanuel macron complained about it. >> president bide

pennsylvania republican pat toomey, and west virginia democrat joe manchin. >> we had a green on an amendment>> when the families traveled to washington, d. c., several times in 2013, to lobby for the bill. >> i carried pictures i've daniel, because i wanted them to look at is a little face. and to sit across for me. a dad whose child had just been murdered. i want people to know who my little daniel was. and it wasn't just a number in a statistic of another school shooting in america. >> and didn't penetrate? >> for some it did, for some it didn't, some people said that my constituents both understand -- >> a heart wrenching instead that right to my face. >> as parents were pushing for federal legislation in d. c., many were also calling for policy change back home in connecticut. . >> -- i met with all of the victims families, who asked to meet with me, i told them when i met with them, that i knew my job was to be their voice, do what they need me to do for them. >> assault weapons and large capacity magazines were really top of mind are the people who talk to me about some of the gun cont

with "a" ratings from the nra stepped forward to responser the initiative, pennsylvania republican pat toomey and west virginia democrat joe manchin. >> we have an agreement on an amendment. >> many of the families travelled to washington, d.c. several times in 2013 to lobby for the bill. >> i carried pictures of -- of daniel with me, because i wanted them to look at his little face and to sit across from me, a dad whose child just been murdered. i wanted people to know what my little daniel was, and he wasn't just a number and a statistic of another school shooting in america. >> and did it penetrate? >> for some it did. for some it didn't. some of them said, you know, my constituents won't understand it this way. and so some stood up and did the right thing. some not so much. some of them lied right to my face. >> as parents were pushing for federal legislation in d.c., many were also calling for policy change back home in connecticut. >> connecticut already had good gun laws in place, so this was a strengthening of a lot of them. >> at the time of the shooting, john mckinney was the republ

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the bushes, boehner, canter, liz cheyney, pat toomey and the list goes on and on and on. and this new proposal is no better than any of the others that crashed and burned. in fact, it's the worst because it comes at a time of unprecedented border crashing and whether we're in a recession now or will be certainly soon, that's terrible. and by the way, real wages are already falling in the united states. it's terrible timing. now they know you would vote against it if you could. yet they simply don't care. this cabal that hates the populous and hated the tea party knows where these immigration efforts will always end up if they're introduced in the regular legislative session. this is the reason for their hidden ball trick on amnesty right now. they know none of it's popular, that if they had to openly run on it it probably would have cost them the senate, the democrats. the democrats are hoping by the time 2024 rolls around you'll have forgotten all this run away spending immigration amnesty, eviscerating made in america, fast tracking pot use and ins slating the woke pent

pat toomey says the senate banking committee also wants to hear from bankman-fried the day after, significantd questions on how client funds were misappropriated, clients were blocked from withdrawing their money and orchestrated a cover-up. bankman-fried has been speaking in numerous interviews admitting to the transfer of funds from cryptoexchange to personal hedge fund. >> one phrasing would be to say alameda effectively sent those dollars from the ftx account to the user but that's electric transfer, of course. outside of that, the answer is they were wired to alameda. i can only speculate what happened after that. >> legal experts say it's illegal, violates terms of service. and saying that ftx u.s. was solvent, but not sure if that means the u.s. customers will get their money back. >> john: find out what congress has to say to him next week. >> sandra: second edition of the elon musk twitter files that dropped last night, the documents exposing how the social media giant used secret black lists to limit the visibility of tweets and even entire accounts of conservative users. our next g

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. >> pat toomey offered a customer farewell address on capitol hill. he has served in the senate since 2011. he talked about gop accomplishments during his time in the senate.

and retiring pennsylvania republican pat toomey saying walker's loss is another example that, quote,ession is very bad for republicans. trump defenders pushing back. >> if the answer to everything in town is it's trump's problem, then you're missing the boat. >> reporter: some directing the ire to senate gop leader mitch mcconnell for refusing to embrace an election year agenda. >> i believe we have a republican agenda and give people real purpose why to vote for us. >> reporter: yet many blame the senate campaign arm for staying out of gop primaries in 2022 with gop leaders now calling on the party to intervene in primaries thin 2024 cycle where democrats are defending 23 seats and republicans just 11. should jow have taken a more active role in trying to prop up the candidates who would have been more electable? even trump allies are saying the party has been damaged as he seeks re-election in 2024. >> i think he's in a good spot to get the dumination, but he's got to prove to people he can win. >> reporter: i asked rafael warnock whether donald trump actually helped him, he said h

senator pat toomey is somebody just as smart as anybody there. asking questions. he asked them, kevin, what do you think happened? ened he goes i will tell you exactly what happened. i talked to him right after and he said my stuff froze and i don't know what happened to the money. go back 24 months, what did you do? then he told everybody in the senate hearing what they did. and people actually gained from it instead of grandstanding like senator elizabeth warren. >> ainsley: the co-ceo ryan salemi there were only three people in the company could have pulled that money and transferred it to this alameda hedge fund three people sam and the co-founder and an engineer. that same guy, the co-ceo was praising sam bankman-fried on twitter back in august. he was saying it's an absolute honor working for this man. one of the most caring, humble, genuine people i have ever met. maybe he didn't know what was going on at that point. >> brian: right. deceptive. >> steve: the rap against crypto -- there are a lot of people in the deep web and elsewhere who

and pat toomey saying walker's loss is another example that quote, the trump obsession is very bad for republicans. trump defenders pushing back. >> no. i think we're losing close elections not because of donald trump. so if the answer to everything in town is it's trump's problem, you're missing the boat. >> some directing their anger at mitch mcconnell for refusing to embrace an election year agenda. >> no agenda. >> i believe we ought to have a republican agenda and give people a real purpose for why to vote for us. >> many blame rick scott's senate campaign arm for staying out of gop primaries in 2022 with gop leaders calling on the party to intervene in primaries in the 2024 cycle. but democrats are defepding 23 seats and republicans just 11. should you have taken a more active role and tried to prop up the candidates who have been more electable? >> i think you've got to rely on the voters and their states. i trust the voters. >> the additional seat now gives senate democrats more power to issue subpoenas and breathe room to confirm president biden's nominations. >> turn left, re

lauren: retired senator pat toomey of the state of pennsylvania. lost his influence. watch. >> first, i think his influence was waning, not as quickly as i had hoped it would but i think it was, but the election outcome from last month, i think, dramatically accelerates the waning and frankly, it's unbelievably terrible rollout of his re-election, well his election campaign is also not helping him. lauren: so since the mid-terms we've seen a number of republican candidates jump into the race, willing to take him on , and then sitting gop lawmakers also becoming vocally opposed to him, not just senator toomey. senator mike rounds, south dakota trump isn't attracting independents, and cynthia luumis of wyoming. she's pushing election fraud over and over again and that does not bring in your independents and moderate democrats that republicans need to win. david: got to look to the future can't focus on the past all the time. lauren, thank you very much. joe concha is here and i'll get you in just a second but first of all do you think senator toomey

cycle and promises to be a weight on them a drag on them going into 2024 what we see there with pat toomeyso maybe you see he's finally speaking the truth. there are folks who are going to be running for reelection who very much feel the same way and more of them are articulating it out now in public so it does seem, in a measurable way, that trump's grip on the republican party is loosening and that more every day republicans, not only politicians, but even that base are looking to other people. whether desantis, another governor, somebody ought to be the standard bearer instead of donald trump. this is a unique dynamic for him from when he first rose in 2015. he is not the same charismatic new kids on the block -- charming folks with his outsize personality in weird way of doing things and catching everybody's tension. he does seem to be fading in a measurable way. >> he is a disgraced grift or who is selling nfts cards. >> secretary castro, hugo, thank you both very much. coming up, what could elon musk do now? could the small fall of sam bankman-fried actually lead to better regulation

. >> pat toomey says, this trump obsession is bad for republicans. senator cornyn says, i think he's less relevant all the time and yet you hear lindsey graham going with the trump line which is, if my candidate wins, it's because of me. if they don't, it's not because of me. what do you make of that, and do you think that we now have to hear what mitch mcconnell says about this? >> i think mitch mcconnell is in a unique position to help be a tipping point. i think he pulled his punch in the impeachment, and probably regrets it. look. i think lindsey graham traded in a lot of his ceredibility as an independent actor after warning that backing donald trump would mean the senate would lose, and he still is afraid of donald trump, or afraid of the base, and i think that's what's motivatiing a lot of this. the problem with trump is i think people are getting a little bit quick. the fever is breaking. that's the good news, but if you have five people run for president and trump's got 30% of the republican primary base, he's going to win those winner take

break at the component parts of, this on the one, hand this particular incident seems to, be as pat toomeyhis morning, garden-variety fraud. the specific fraud at ftx was not so much about cryptocurrency, as much about bad business practices and essentially running a shell game. what congress has been trying to decide for years, now there is actually a bill that was brought up, a bipartisan bill, the senators lummis and gillibrand the summer to start regulating cryptocurrency. the congress can't even figure where they want to begin. do they want to treat it like a commodity? like pork futures or crude oil? or do they want to treat it like a security like stocks? it's very basic questions about how to regulate this industry. senator jon tester over the weekend on meet the press suggested banning outright. it is a very active debate. how likely deregulated? how do you keep this industry based in the united states and you can regulate it, so it's not just a casino? these are big, 30,000 foot level questions that have still yet to be answered by lawmakers. we have to get that stuff cleaned up

pat toomey retiring said it was the trump obsession is very bad for the party and mitt romney said it is a kiss of death to get the trump endorsement so a lot of blame going around but no unity on how to move forward. >> lisa, i think there are a number of ways to read the results from georgia. is the takeaway georgia is now a purple state? was it that republicans blew this or was this just a one-off? >> all of the above. it was quite the runoff as you saw these past four weeks and, yes, the win has georgia looking more purple. to add to the earlier report, lieutenant governor outgoing lieutenant governor geoff duncan is very angry, very outspoken as to what transpired in this latest runoff. he says all all republicans should be held accountable and hold donald trump accountable for endorsing herschel walker, someone who is not a viable candidate in his opinion and he says the party has just got it all wrong. all sorts of things happening here but who emerged the winner? it was senator raphael warnock. >> and the democrats who now have 51 votes in the senate, manu, that's a big deal.

i will talk to pennsylvania republican senator pat toomey and the lessons he has learned. leave the floor. stand by on that. you are watching "andrea mitchell reports." chuck schumer said the senators have to stay in place. we'll be right back. casey: these kids, they don't deserve to have to go through this. my beautiful little redheaded girl has cancer. you don't know what's going to happen. narrator: please call or go online and become a st. jude partner in hope for only $19 a month. christen: i think it's the most worthwhile place to put your money, when it comes to childhood cancer. (woman) oh. oh! hi there. you're jonathan, right? the 995 plan! yes, from colonial penn. your 995 plan fits my budget just right. excuse me? aren't you jonathan from tv, that 995 plan? yes, from colonial penn. i love your lifetime rate lock. that's what sold me. she thinks you're jonathan, with the 995 plan. -are you? -yes, from colonial penn. we were concerned we couldn't get coverage, but it was easy with the 995 plan. -thank you. -you're welcome. i'm jonathan for colonial penn life insu

pat toomey was on my show on sunday saying that he thinks donald trump is losing his grip on the republican again, as we know, we've discussed this many times, the party is not just a monolithic republican party. there is, as i would call it, the ride or die trumpers, folks who aren't giving up no matter what. and 30%, 35%, i don't think this has any impact. this is purely white noise for them. what happened today is just as politically, just as any of the impeachments, the mueller investigation. i think they hear it just the same way, static, like the old charlie brown, wonk-wonk, they don't hear anything else. it's somewhat disturbing to me, because maybe if the democrats hadn't gone after the first when democracy was in jeopardy, they would have taken it more seriously. >> the second one was. >> i understand. but i'm saying the first, the mueller, the very long -- you know, we had adam schiff coming on every day saying it's the end of democracy, so him as the spokesperson doesn't help among republicans. >> there were new findings in the hearings that we haven't heard in the previous tele

and look who's been forced outbh of politics sincese the bushies boehner, cantor, liz cheney, pat toomey. and the list goelists on and ond on . >> and this new proposal is no better than the others thatcaus crashed and burned.e in fact, it's the worst because unprs at a time of unprecedented border crashing. >> and whether we're in a recession now or will be certain certainly soon, that's e terrible. and by the way, real wages are already falling in the united states . it's terrible timing. now, they know you wouldt vote against it if you could, c if they simply don't care. tea this cabal that hateswhere the populace and hated the tea party knowths these immigration efforts will always end up ifn h they're introduced in the regular legislative session. this is the reason for theirno their hidden ball trick k on amnesty. right now, they know nonnoe. o r it's popular that if they had to openly run on it, it probably would have cost them the senate, the democrats. so the democrats aree hopingcr thatar by the time 2020 four rolls around, you'll have forgotten what they did to raml through al

that common sense provision was blocked from the finals bloc version when republicanstor senator pat toomey opposed it.t i mean, this is beyondthis is shameful, but where some federal politicians are failing, republican state leaders are stepping up to fill the void today. the governor christie noem of sh dakota called for immediate review of her state'setermi investments to determine if taxpayer dollars are beingne investedtaxpng in companies thae a threat to our national security, like those, of course, in communist of course . republican south dakota governor kristi noem joins us now.. e fact tha governor . the fact that senator toomey would oppose this provision and the defense authorization act, i mean, just your reaction to tha reactiont before we get to whatk you're trying to do? i think it's alarming. he uni amer clear thatet china is an enemy of the united states of america. they hatate e us and that we shd be doing everything we canzens to protect the citizens of this country. ois from them and their actions. our so today in our state, i called on south dakota investment council t

when i ran for senate people pointed to your campaign and said you can run a campaign as well as pat toomey you'll make it to the united states senate. your time in a tame of growth, all these experiences here in washington i feel have left an indelible mark. i think about how you've been a leading force and staunch advocate for conservative economic policies that have always sought to make our economy, the american economy, the strongest and most competitive in the world. you have made a tremendous mark. you've demonstrated principled, intellectual leadership on this committee. you helped us navigate through some very uncertain time, particularly these past two years as we have come into recession. we've seen inflation like we've never seen. challenges to the economy that have been absolutely enormous. and your steady hand and voice of reason have made a tremendous difference. your expertise has been critical in instances where political pressures have attempted to steer this body perhaps in a way where financial markets shouldn't land. you've been strong in terms of making certain that th

what is interesting there as well is he mentions the top ranking member, senator pat toomey, the topepublican on the banking committee, so it does suggest there is bipartisan support for something to happen here. but it is also something the house is facing given that sam bankman-fried also has not said if he will attend that hearing on tuesday. and we have that tweet from maxine waters yesterday where she said, because there was cnbc reporting that she was not going to compel him to do so, it was going to be voluntary and she said actually, a subpoena is definitely on the table, so stay tuned. in terms of witnesses, we know in the last 15 minutes or so that the acting ceo who is overseeing issues at ftx now, he will be appearing before the house on tuesday. rishaad: where are we with the investigation? you got us up to speed with so much of it. >> this is exclusive reporting, so essentially, what we understand from our sources is the new management team at ftx, including legal counsel as well as outside legal counsel, had met with a group of manhattan federal prosecutors, so this is

i this is for pat toomey. two questions. i just there was something i to say in my comments which i just wanted to point out, phil keeps suggesting and will's questions do too is where does phil's outcomes up with the court's current jurisprudence where the court's going so phil that's is very principle. i think justice you come closest to is just a scalia right with this kind of not you know courts should generally out of the business of creating exemptions for law and also the later scalia in terms of the establishment clause should stop striking things on down on the have established clause for. scalia this is but it's an interesting difference for. scalia and for a i think as a whole it was skepticism about the judicial role to make these choices for you. it's a very different reason you i think your view is rooted more and political philosophy rather than any of discussion of the competence courts versus the executive or, the legislature. but i want to say that this is a very interesting part of phil's book. there's a w

i this is for pat toomey. two questions. i just there was something i to say in my comments which i just wanted to point out, phil keeps suggesting and will's questions do too is where does phil's outcomes up with the court's current jurisprudence where the court's going so phil that's is very principle. i think justice you come closest to is just a scalia right with this kind of not you know courts should generally out of the business of creating exemptions for law and also the later scalia in terms of the establishment clause should stop striking things on down on the have established clause for. scalia this is but it's an interesting difference for. scalia and for a i think as a whole it was skepticism about the judicial role to make these choices for you. it's a very different reason you i think your view is rooted more and political philosophy rather than any of discussion of the competence courts versus the executive or, the legislature. but i want to say that this is a very interesting part of phil's book. there's a w

saying him and his colleagues are working every day to get this done, and we also heard from senator pat toomeytop ranked republican on the senate banking committee. and he is someone himself who said he bought the story in the past, the hype, the enigma that is sam bankman-fried, but he is saying now there is an opening coming up in congress to make something happen before the end of the year. in terms of the context and scale of this, it will not be quite as big as what would have been helped by some in the sector, because it will be attached if it happens to a larger spending deal, but a regulatory framework for stablecoins is one of the measures that could come into play, clarity around the definition of a crypto broker and a tax reporting exemption for crypto transactions under the value of $50, and that would enable them to be used in smaller good sales. kathleen: it mostly looks like cleaning up the mess, one of its units possibly for sale? annabelle: that is right, this is ledger x, the derivatives arm of ftx, and it was the sole entity regularly by the ftc. it was a cornerstone for sam

senators joe manchin and pat toomey moments ago revealing a much-awaited partisan deal on background a background check. >> i don't consider background checks to be gun control. i think it's just common sense. >> we are optimistic that this can pass. it's just going to take a little work. that's why gabby and i are here. >> we have a former member of congress here, gabby giffords, who's going to give a brief message. >> miss giffords. >> thank you for inviting me here today. speaking is difficult, but i need to say something important. violence is a big problem. too many children are dying. too many children. we must do something. it will be hard. but the time is now. be bold, be courageous. americans are counting on you. thank you. >> nobody could have been more compelling than gabby was that day. gun legislation was always difficult. but i thought a classroom full of 6-year-olds getting slaughtered, surely that will prompt a change. >> the bipartisan compromise to expand background checks on guns just failed to break a republican filibuster. the vote was 54-46. so six votes short o