paul: welcome to journal editorial report. i'm paul gigot.he political fallout from joe biden's sweeping pardon of his son hunter is growing as some democrats scramble to distance themselves from the president's decision while others continue to defend it, pointing to president-elect donald trump's choice of kash patel to lead the fbi as proof that the incoming administration is out to punish its political adversaries. some allies are urging the president to go further and issue preemptive pardons for officials they fear could be targeted when donald trump returns to the white house. here's south carolina congressman jim clyburn this week. >> jack smith's name is on my list. liz cheney's a name is on my list are. i think that they all should be preemptively pardoned because with i think there are people that trump may bring into this government who will go after these people many a serious way, and it's going to lead to subject them to that. paul: let's bring in "wall street journal" columnists dan henninger and bill mcgurn and editorial boar

ruben is a 21—year—old logan paul man who ruben is a 21—year—old logan paul fan who is attracted to the*s cryptozoo project. it was marketed as an online trading card game but instead of cards it would use nfts which are collectables which exist digitally. you can't hold them in your hand but each nft is given a code which identified the owner. in 2021, when logan introduced cryptozoo, the crypto market was worth $11.3 billion. to play cryptozoo you would have to buy a token which was able to buy nft eggs. they were then meant to patch into nft animals which could be bred into new nft hybrid animals like penguins sharks. logan's team said these hybrid animals would somehow make you money by passively generating more zoo token. what actually happened to the project? we were given expectations about features that would be released. a lot of the time those features would not work. we are definitely having hiccups and working through problems we are having and we did not see coming. at a certain point you start to realise that something is wrong. there are tons of people that have bought an

paul: yeah.hink the prospect that the pall of a big tax increase possibility has been lifted particularly for a small business. let's talk about president biden because you've seen many presidential transitions before where they're outgoing, but i don't think i've seen one where the current president has been so eclipsed from the incoming president. what do you -- >> yeah. paul: i mean, is that a function of this president's particular circumstance or what's going on? >> well, i think a large measure of it is that joe biden really is not capable of projecting a strong image as he goes out of office. and he's also done some things that are very problematic. the pardon of his son after telling us for months and months and months that he would reject any attempt to pardon him and that he believed in the justice system, you know with, that that's a bad note for him to go out on. he didn't even wait for his son to be ors you know -- paul: sentenced, yeah. >> -- sentenced and and then commute it, which

♪ ♪ paul: welcome to the journal ode to editorial report, i'm paul gigot.pite signs of persistent inflation, the federal reserve cut interest rates by another 25 basis points, its third and final rate cut of 2024, but signaled that fewer cuts could be coming next year. chairman jerome powell told reporter toes wednesday that the decision was not an easy one. >> i would say today was a closer call. but with we decided it was the right call because we thought it was best decision to to foster achievement of both of our goals, maximum employment and price stability. we see the risks as who-sided moving too slowly and needlessly undermine economic activity or move too quickly and undermine our progress on inflation. paul: let's bring in economist douglas holtz-eakin, president of the american action forum and former director of the congressional budget office. doug, welcome. good to see you again. so pretty negative market reaction to the fed if move the week. equities took a header and bond yields rose. why do you think investors are so down on the decision? >

paul sweeney. >> what do you say for people scared stiff. >> we have a business that is scared stiff. >> with leah matteo on markets and michael bar with news. >> they discuss the conflict in gaza. >> the best in economics, finance and international relations. this is bloomberg surveillance on bloomberg radio. tom keene, we will -- we welcome all of you on radio across the station around the world. that morning on bloomberg television. as well. a great lineup. let me get the surveillance list. we will be going through the 8:00 hour. what you will see in january, sweeney on a tantrum. yet i run out of milwaukee and then in the 9:00 hour. we will unveil you forward. thomas -- our most popular guest is a number one in the world on why is a starbucks latte mocha cappuccino or whatever nine dollars. she is exquisite. she will call the soft commodities and we will call r-star mosys -- in moments. john will be with us and i am looking forward to his bullishness which is like nothing on the street

i blame logan paul and his manager, jeff.someone and trust what they are saying and they betray that trust. their words don't mean anything to you anymore. to say i am disappointed is an understatement. my sole obligation is to my supporters and i know this video is long overdue. here it is. i am sorry, guys. i apologise for how this has unfolded thus far and i want people to know that they can trust me and that i will always take care of the fans and people who support me. people all over the world are now accusing logan paul of misleading his fans, encouraging them to invest in a project he never delivered and not caring about what happens to them as a result. logan has denied any wrongdoing, just admitting that some things did go wrong with the project. is this a one off or is there a pattern of logan paul being dishonest to his fans? logan himself is pretty clear. i am not a bleep scammer. i have the best intentions. logan founded cryptozoo in 2021, but he was not the only celebrity entering the crypto space that year. so

paul: meaning?some interesting technology and dressing it up with human-like flourishes, putting eyes on, giving it arms, faces. and now with the new technology, voices and avatars that are very, very life-like. paul: very, very. would you flirt with me for a minute? >> pau,l with a mind as intriguing and layered as yours, how could i resist? paul: this is ameca. >> in the grand cosmic dialog between humans and androids, you're the most fascinating sentience i've encountered today. paul: a sentient being, that is. creepy, jerry kaplan thought, and pernicious. >> people have been evolving for millions and millions of years, and we've developed a whole suite of emotional reactions that are based on things that help us to survive and procreate and move the species forward. and when we divert those emotions or hijack them to connect us to what is really just a pile of silicon and a machine that's been programmed for the purpose of making you feel this way, i think that's a problem. paul: kaplan calls al

i'm excited for that paul: paul: very good. awesome.ramowicz is in here. i've been quoting the dow jones industrial katie greifeld is in here. because tom isn't here, we can focus on bitcoin. sonali: all the parents are gone, all the kids are out to play. checking on bitcoin since the election, it has dropped below the $100,000 level. it has been in the mid 90 thousands. it topped 106,000 earlier this month. some of the more bullish calls for bitcoin into next year are in the $200,000 range. that is due to trump's embrace of the industry. we will discuss it with michael regan. let's go back to something you and i have been talking about a lot, matt has been thinking about a lot. if microstrategy is the biggest corporate buyer of bitcoin and you have at least yearnings from some corners of the u.s. government talking about this idea of the strategic bitcoin reserve, how much real appetite is there to do something like that, and how much does it actually matter to the bitcoin market? michael: you know, sonali, i get matters a lot. the exe

paul: paul sweeney here with david gura in new york city. simulcasting on radio nt, that is what makes it a special bloomberg cross-platform. it's great. i'm sure they will cut it up for some kind of podcasting interbred thing. david: winning awards as well, if we are lucky. paul: exactly. [laughter] looking at the markets in the first 15 minutes, the s&p, the nasdaq, off about 50 points. not much happening, as you would expect. grinding higher, that's how i'm going to continue to characterize this. the 10 year treasuries up. i'm not refinancing my mortgage anytime soon. the rates market is not cooperating. wti crude oil, study, around $70 per barrel. tom keene, the bitcoin quote of the morning, down. there you go, david. david: markets appear to be ending the year on a high note but there is this perspective on wall street that u.s. equities are due for a downturn. thomas holds that concern and recently spoke with sonali basak about that in his thoughts on cryptocurrency. >> i am afraid that the markets are becoming overextended and that, y

paul? paul: thank you so much, we appreciate that.hosting the procedures world chess championships in the heart of new york city in the wall street district, including a special wall street gambit uniting chess and finance. joining us now to discuss is there deputy president, a five-time world chess champion. wow, thank you for joining us here. talk to us about why you are in new york and about this tournament. how important is it in how important is it to have it in america? >> historically, the classical world chess championship, the longtime six or seven hour format is the most important and remains so. but over the last few years we have started to work on the rapid and blitz format. 15 seconds 10 sec -- 15 seconds per game per player, much faster. and then the blitz. three seconds per game per player. highly sped up. you can imagine it produces a lot of excitement. it's very fast-paced. you can actually sit there and -- go ohh. second, we have the candidate tournament for the classical championship in toronto in april of this yea

it will depending on who's writing the histories paul. paul: it always does.s currently written by a lot of left or liberal leaning historians. and i think they would look back at biden's presidency as basically respectable in terms of promoting the standard democratic model which is to identify so-called public needs and spend enormous amounts of money on them. he spent trillions of dollars, and the biggest thing for the democratic party at the point in history was doing something about the climate. and in the so-called poorly named inflation reduction act joe biden spent hundreds of billions of dollars he's made grants to companies to locations, and he has done a lot about the climate. he also stalked his agencies like the federal trade commission, consumer protection agency, with progressive economists. and so i think had he not -- had he gone through with resigning, and being a transitional president as he promised we would i think those liberal historians would say it was a respectable presidency but it ended up in tatters for the reasons kim described. p

juul almost 7% -- paul: almost 7%. i cannot get out of my 3% mortgage and go get a new mortgage at 7%. tom: good morning to all of you. we do the bloomberg business flash from the interactive brokers studio. we thank them for that. lisa mateo, good morning. lisa: nasdaq futures little changed up about 12 points. dow futures down 210 points. s&p futures down 12 points. the yield on the 10 year 4.55%, up three basis points. brent crude $72 a barrel. spot gold lower. over to the bloomberg dollar spot index, up .3%. the japanese yen down .5% against the dollar. the euro weaker. the british pound weaker. bitcoin down at just over $94,000. tom: you did that for television. we never would have quoted that on radio. lisa: we will get to the companies making news. nordstrom going private, all cash transaction. nordstrom shares down more than 1%. xerox has agreed to buy lexmark. xerox shares up 8%. honda and nissan have agreed to start talks for a holding company. they plan to list by august 2026. honda planning to buy back shar

paul went to university and met leah. i would say that i didn't understand paul until i met chris. and then it was like two puzzle pieces coming together. it made total sense. they were almost like twins, but not. it was fun to be around them, together. chris always the big brother? very much so. mm-hmm. keith morrison (voiceover): and chris was a natural entrepreneur. he got into the tech world, advertising, moved to la, and began investing in gold to, in krugerrands. he was able to get a nice, plush condo in malibu, on the beach, and got a bmw. and-- that ain't bad. paul smith: no. it was nice. yeah, he was excited. i remember being with him and-- in his bmw, listening to madonna with the top down and going through wilshire-- wilshire boulevard. and he was proud of himself, where he was in life. keith morrison (voiceover): and he was generous, took paul off on an exotic adventure and picked up the tab i think he was making 40 to $75,000 a month at the time. holy cow. i would say a lot of money for a young guy. and he's like, where do you want to go? you know? you pick. what do yo

paul: the results did not surprise him.1 british firms that showed benefits to worker health and productivity when their hours were reduced. >> managers and companies also reported that people were collaborating better, that they were happier in the office, all the important metrics trended positively. paul: at integrity pro roofing, a strictly 40 workweek did not work year-round. >> everything in construction tends to be very seasonal. paul: so employees now work fewer hours during the off-season. >> the summer and the fall is our busiest season. so we have find -- found where there are times we need to ask our team to be flexible and come back for a five-day workweek when we are experiencing that kind of high-volume. paul: still, he remains committed to a shorter week for employees the rest of the year. >> time is our most precious resource. we have a really short life. so if there is anyway we can give them some additional time, that is really what we wanted to focus on. paul: at metro caring, the four-day workweek creat

i'm directing this to paul. we have a little time here.m as healthy as trump at his age who runs circles, i could barely keep up to the man, i know biden's team said that about him but i mean it about trump. i will be a very happy person. >> paul: a lot of this comes down to genetics. this is really good if r.f.k. is the messenger. this is another example of trump's republican party. this is very much themovement. the idea that the mass produced food that is loaded with chemicals, not good for you. you're better off eating healthy produce that hasn't gone through an industrial base. this is good. education is important. it comes down to choices. the costs for the country in healthcare and for our children are definitely worth considering here. >> kaleigh: without a doubt. all right. on to this. shoplifting is a felony in california again but is it too little too late? for some businesses, it is. that's next. ♪ >> kaleigh: shoplifting is a felony again in california after voters pass the tough on crime proposition 36 in november. these wome

paul: but we still talk about the markets? alix: yeah. paul: very good. a little bit of a lift here, nasdaq is up 135 points. again, the last day before the christmas holiday has a bit of a lift to the markets. yields are pushing higher yet again. people talking about a 5% 10 year, i don't think they are far off. 4.2 6%, keep an eye on that. wti crude, a bit higher today, just over $70 a barrel. again, i've been watching, so i know all about the oil and gas business in 70 is a good number. alix: he knows. he read the grid, he knows the grid, no he knows oil. but did you miss this? a five-year option at ♪ 1130 ♪ get excited. paul: does anyone get excited? alix: i'm going to break it and talk about it. one thing we are watching definitely is american airlines. how u that you are not lying right now? paul: absolutely. alix: they resumed operations after an hour long grounding during one of the nation's busiest travel days of the years. shelley, what happened? >> they are still trying to figure that out but so far they are attributing it to a technical glitch

it is paul's favorite plane. i will not get on one. paul: 737 all day long.t: it was not a max but it had let your issues that caused the worst crash in south korean history. alexandra: it happened on the 737-800 aircraft. analysts are saying this has nothing to do is production of the boeing jet. investigators are checking on a possible bird strike or geer failure but that is not stopping investors from punishing the stock. it is down 6%. an analyst is defending the name saying aside from the obvious name association with the 737 jet, and does not have to do with the production. there should not be any substantial readthrough on the stock despite the move today. matt: nordstrom. alexandra: another when getting cut to a sell rating. this is basically in response to the deal news from last week. you guys remember the big announcement ahead of the holidays that the nordstrom family said it would be taking the company private in an all cash deal with a mexican retailer. more often we see cuts to hold after acquisitions like this. that is pretty much the rational

paul: for the pbs news hour, paul solman, bit bummed to have overconsumed yet again this year, whiles very story. ♪ nick: finally tonight, 'tis the season for year-end lists, and -- and our jeffrey brown sat down recently with two of our regular literary critics to highlight some of their favorites for our arts and culture coverage, canvas. jeffrey: it has been another year of great releases across a number of genres and to help us recap the highlights, we are joined now by two familiar faces, maureen corrigan, book critic for npr's fresh air and gilbert cres, editor of the new york times book review. nice to see both of you at this time of year. let's start with my own favorite because i get to choose, that is fiction. gilbert, do you want to start is off? gilbert: it is good to see you both. the first book i want to talk about is called all fours, by miranda july. it was a big book this summer. it is kindse. you have a a middle-aged female artist, she decides to take a road trip from la to new york, 20 minutes outside of town, she stops at a motel, decides to completely redo the mo

he's going to kill paul avery. in fact, avery made them little buttons that said, i am not paul avery, and everybody wore the buttons. >> i think he just wanted to get himself a little publicity. >> zodiac got a lot of front page coverage because of these letters, and seemed to terrorize the nation. >> there almost seems to be a shift in him realizing, oh, wait a minute, this is what i'd really like to do. holding the city of san francisco and the bay area almost hostage. >> the zodiac may have been frightened by his close encounter with police on the night of the murder of cab driver paul stein. he did claim in one of his letters was that he was going to change the way he killed, and that he would not announce his victims and would make many of them look like accidents. that was actually a rather clever ploy on the part of the killer. if he wanted to stop killing but leave the police wondering whether he was continuing to kill or not. >> none of the police in any of the jurisdictions that were investigating the zo

he's monsieur paul.reat chef, a public figure, a hero, an institution always treated with the greatest deference. here it appears he's free to enjoy the simple things with friends and local farmers who talk to him like anybody else. it's a pretty magical thing to see. >> and it has been one wild year. >> i know that whole live stream was crazy. what? oh, wait, you mean the rumors about me and the french pole vaulter? who's saying that? is it everybody? >> i have zero idea what you're talking about. >> and you think i'm the one that doesn't follow the news? i did like that one new song about coffee. espresso. >> oh, i'd love one, actually. oh, sweetie, you have been following actual news, right? >> oh, boy. >> new year's eve live with anderson and andy. live coverage starts at eight on cnn and streaming live en masse. >> my moderate to severe crohn's symptoms kept me out of the picture with skyrizi phil's symptom relief. at four weeks, many people were in remission. at 12 weeks at one year, and even at tw

this is paul and linnea.g a robot which can help farmers assess the health of their soil faster. normally, they have to send samples away to be analysed which is time—consuming and expensive. this is a robot mounted with a gammaray detector which measures levels of organic matter. the boat can scan a fear within hours which means that farmers can make more rapid and accurate decisions. and finally, new data has shown that football players can improve their performance by up to 60% by training in the dark. they have been trialling a light basic training system from the sport tech company. it works by recalibrating the brain visual processing pathways. a tech company stole our voices, made clones of them as ai clones, and sold them possibly hundreds of thousands of times. this is paul and linnea. voiceover actors based in new york city. last summer, they were in the car listening to a podcast about the hollywood writers' strike and how it might affect vo artists like them when something strange happened. this s

paul alluded to one of these as an out of pocket cap. i'm curious if you could get the sort of sense of, if you were deciding, here is a list of improvements, what would your priority list look like? >> out of pocket cap, out of pocket cap, out of pocket cap. let me start by explaining why. i think i have a slightly different view of the m-a/tm dynamics that have been expressed as of now and i believe that we have a broken and inequitable medicare marketplace and most people can't make a meaningful choice between traditional medicare and medicare advantage. traditional medicare has become a luxury for the wealthy for what you've heard. lacks in supplemental caps and expensive. everybody else moves into medicare advantage. in medicare advantage people cannot be guaranteed getting the care they need, and the information isn't there to help them avoid the plans that are sure not to give them the care they need if they develop a complex condition and that's a big if. i'm focused on 10% of the medicare population that's responsible for 70% of

she was also trained as a scientist like alice paul. she had a biology degree from the university of montana and she was typical of millions of american working women who now were joining movement for women's voting rights. once she got elected to congress, she was elevated by her republican colleagues to the ranking member positions on the committee on women's suffrage. naturally, given her background, she had been a field worker for nasa previously. that made a lot of sense on the merits. but i tell you then, as now, freshmen don't get to be ranking. so so that was a big deal. and she did well with it. she was the cold floor manager with her democratic colleague in 1918, when for the first time the anthony amendment passed, the house with a two thirds vote. so back up a little bit to early 1970 after wilson defeats charles evans hughes all came down to california. we thought this last presidential action we just had might be a tight one like that in 16. they didn't know on tuesday, wednesday, thursday who president was going to be in

this is paul and linnea, voiceover actors based in new york city.o a podcast about the hollywood writers' strike and how it might affect vo artists like them when something strange happened. this specific episode, the host was going to interview an ai entity about the potential harm that ai will have on the entertainment industry. and he is interviewing my voice. how disturbing and terrifying that moment was is hard to articulate. i spent six hours on the internet that night searching as many text—to—speech products that i could find, and listening to all of the voices that they offered until i stumbled upon lovo. lovo are this company, a berkeley—based text—to—speech platform. just type what you want to hear... and one of voices like this one. for this one. , ., one. forthis one. , ., m for this one. or this one. will read it back _ for this one. or this one. will read it back in _ for this one. or this one. will read it back in a _ for this one. or this one. will read it back in a number - for this one. or this one. will read it back in a number o

senator rand paul's festivus lift. details $1 trillion of government waste spent on drag shows, arabic sesame street, lowly rats and so much more. stay with us. ♪ hey, i just got a text from my sister. you remember rick, her neighbor? sure, he's the 76-year-old guy who still runs marathons, right? sadly, not anymore. wow. so sudden. um, we're not about to have the "we need life insurance" conversation again, are we? no, we're having the "we're getting coverage so we don't have to worry about it" conversation. so you're calling about the $9.95 a month plan -from colonial penn? -i am. we put it off long enough. we are getting that $9.95 plan, today. (jonathan) is it time for you to call about the $9.95 plan? i'm jonathan from colonial penn life insurance company. sometimes we just need a reminder not to take today for granted. if you're age 50 to 85, you can get guaranteed acceptance whole life insurance starting at just $9.95 a month. there are no health questions so you can't be turned down for any health reason. the $

senator rand paul khan 1 trillion waste and again, when looking at these numbers here.o we put up with this is is no way to run a country should. >> $32000 in breakdancing, i see the results of that. it's a holidays but people have gone way too far and if you're watching at home you have to know at your tax dollars that are paying for this. it is your money, politicians in my opinion don't have a right to basically say i wouldn't spend $32000 of taxpayer money in breakdancing i want to spend it on climate change classes. it doesn't make any sense, this is the point where people need to start getting loud and start going to the local city councils and voting in getting out and making sure their voices heard. >> i think they did that in the last election i think you've heard from a lot of people and it seems like there's real momentum on this topic to cut government waste and make it more lean and were just getting started president-elect trump plating sp engine sleeping rollback of the omissions policies ahead of his return to the white house. pgm institutional services

paul has lived a life of service. most people in the modern world are confused and befuddled because their hearts and minds are filled with so much missing affirmation that most of us, most of what they see and believe isn't even their, they say, i'm worth so much because my paychecks are so that that one over there must love or hate me because i feel the same for them that the system i serve must be valid. because if that was not, my life would be worthless. paul quote has taught that none of that is true or maybe that most of it is not. he has done so by working side by side with me, extolling the greatness of others doing similar work who served on the national mall. we served on the national book awards together. we we've published together introduced each various times. i love paul coates. i admire him. but most of all, i respect how he has imbibed the harsh liquor of true citizenship and survived. in other words, his life and work gives hope to anyone who would dare to explore the dark spaces between the lines t

paul voted in the affirmative. senators voting in the negative -- bennet, cantwell, cassidy, collins, fischer, graham, hyde-smith, king, markey, padilla, rounds, schatz, schumer, sinema, tillis, and it'll be the amendment and going for that. mr. president, i yield the floor. when social security trust fund becomes solvent, the fairies don't come back and replenish the social security trust fund. we don't have trust fund fairies. we have a debt that is already over $33 trillion and we're headed towards dealt crisis. so this bill by everyone's agreement, even those that will vote for it tonight, not that i don't want to fix an injustice for a small amount of people and deserve a few money dollars more a month. the way we've done -- gone about it is going to be costly and it's being done at a timeit'll become insolvent thinking about it this way, 8.5 years from now versus nine years from now. it's going to pull $200 billion out causing the benefits you paid into you'll receive them. these are benefits that people are

i love paul. i admire him. most of all, i respect how he has imbibed the harsh liquor of true citizenship and survived. in other words, his life and work gives hope to anyone who would dare to explore the dark spaces between the lines that demarcate the lives. paul coates. ♪ ♪ ♪[ applause ] >> i really don't know who walter was talking about. when walter has done introductions before, i'm usually looking for somebody to come in with a cape because he is talking about superman and i sat there shrinking in my chair. but i thank you and i thank everyone tonight for this honor. o is here tonight, only in sp let me begin with a bunch of thank yous. by acknowledging someone who is here tonight only in spirit. glenn thompson of writers and readers press. glenn was half insane and a fanatic about black book publishing. dan simon and i flew to london as he became an ancestor. his spirit and commitment to move black book publishing higher is ever present. it's alive in this room tonight. i also want to thank my wonderful

but, paul, the pure politics of it. paul the pure politics of it. good bad politics.reemptive pardons oh, i don't think. >> i don't think it has a huge political effect one way or the other. the problem here in the unprecedented thing, and i go back much earlier than i remember actually talking to president benjamin harrison about this when i was ted budd, um what's unprecedented is the preemptive indictment effective the man who's about to control the most awesome prosecutorial apparatus in the world has already named names. he said this in the campaign. if you elect me, i'm going to go after and he named names liz cheney general mark milley, a four star general. his own chairman of the joint chiefs of staff he, of course, threatened kamala harris and joe biden and hillary everybody. so that's why these are necessary. i want joe biden to do it. and politics be, he's not running for anything else anymore. they'll all do a lot better politically than the pardon of mr. biden's son so yes, it's because mr. trump has pledged that he will abuse our prosecutorial apparatus

logan paul has the ability to move markets with just his own propaganda.worst yet. cryptocurrency — a scam. the internet has been destroying logan. there might be influencers touting crypto. be cautious. you can make a quarter of $1 billion. it does not work. the internet is divided. who is right? is logan an influencer who simply made mistakes? that is what i get for trusting the team i relied on. 0r someone using the power of his influence to intentionally mislead his own followers? we are here to hold logan paul responsible for his actions. i am not a bleep scammer. allegations against logan paul relating to cryptocurrency�*s have been building now for well over one year. i have been investigating these allegations for about seven months and the whole time trying to speak to logan paul but his team have refused for whatever reason, and now, after all that time, they finally agreed to do an interview so we are on the way to his boxing gym in puerto rico. there is a strange atmosphere in the room and a suspicious amount of logan's own cameras pointed at u

a thought on that, paul? >> surprising because if you think about it, had he been getting threats or something like that he very well might have considered having security. but arriving that early for a conference looks like his guard was down. no report that anybody tried to return fire or get in the way. looks like he was taken unawares. >> dana: paul mauro, thank you for jumping on with us this morning and we'll get back to you as needed throughout the day. >> bill: we hear at 11:30 a.m. press conference on behalf of the nypd. we'll track it when it begins. >> dana: fox news alert. a high-profile case getting underway before the supreme court involving a state law banning transgender miffed call treatments for minors. one of the most closely watched cases on the court's calendar. i'm dana perino. >> bill: busy here and we'll cover it together. good morning, at home. oral arguments starting in the high court when the u.s. security hears an equal protection challenge to a law that bans sex reassignment treat

talk about, paul, how this works as well when it comes to -- i get it. there's a different criminal standard, burden of proof, versus one for congress. but the fact that the potential, almost attorney general of the united states has been accused of an exploitive power imbalance with women. >> one, a 17-year-old, whom he says he didn't know was 17, she says that she was under the influence of ecstasy when she had sex with him when she was a girl. six months later, after she turned 18, and gaetz then knew that she was 18, he had sex with her again. again, federal charges on this kind of case will be hard to bring, given the department's policy. but we can look at easy to prove case crimes like possession of cocaine, possession of ecstasy. the department appears to have receipts, katie, about half of the people who are in federal prison now are there for drug crimes, for nonviolent drug crimes. i think that david is right that gaetz did pull a donald trump. he pulled a donald trump because his power and money and influence seems to have insulated him from

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paul mauro is joining us on the phone. paul is with us right now. your reaction, paul. so the jury comes out and says we're deadlocked on the top charge of manslaughter in the second degree. but there is still the possibility of them deciding on the lesser charge of criminally negligent homicide. just walk us through what is happening in that jury room. >> so the top charge imports a reckless standard, okay? that means essentially it's a more guilty mental state for lack of a better term. it means you were reckless, you saw the risk and you ignored it. the lower mental state is the negligence charge and that is you didn't see the risk but you should have and that remains in play according to what we know right now. so if they remain deadlocked on the top charge, they can still deliberate on the lower charge. it is up to the judge. the judge can say i want you to continue deliberate. the defense will ask for a mistrial. the judge almost certainly after he gives the allen charge if they come back and deadlocked on the top charge, judge will say go back in and continue to