even if steve mnuchin were to get an agreement we all know he doesn't have a vote in the senate. even if every republican agreed with him you still can't passable in the senate because it takes democrats working as well. the families we represent are much less concerned about whose side thinks they are right as they are about saying go in a room and work it out. it has been done before, not to be done this time and i would encourage between now and december 20th we don't have to wait until december 16th. i would hope those leaders on your side and the majority would go get with the leaders in the senate and come to an agreement and i am sure they will have conversations with the white house too banana minimum to get the house and senate to come to agreement, not complain about who passed bills into didn't. it never happened before in history of congress, you chose to do a partisan bill where there is a bipartisan bill to be had. and that was put on the side. there is a bipartisan way to do or a partisan way to do it and ultimately you are in the majority, you get to decide that.

and you know, you mentioned steve mnuchin, our treasury secretary.e struck a deal with the fdic after he got this failed bank called indimac where we actually paid him and his group more than $1 billion as they foreclosed on 100,000 people, including 23,000 seniors. now, we subsidize that. right? we subsidize this transfer of wealth and now, steve mnuchin, who benefitted from these subsidies, he is in charge of regulating every american bank. and that's something we need to be talking about. >> and you are, aaron. thank you. aaron glance is a senior reporter for the center for investigative reporting and the author of a new book "home wreckers" how a gang of wall street king pins, crooked banks, and vulture capitalists suckered millions out of their homes and demolished the american dream. coming up, turning to the constitution and one of our favorite experts on it explains how unprecedented impeachment and remove of the president could play out. you are watching msnbc. e presid could play out you are watching msnbc ♪ things are getting clearer, yeah

steve mnuchin did not go last year, he was there this year. but the chinese were there even more.it's clear, they are looking to fill a void they think that might happen between the chinese and the u.s. i'm getting a wrap. because why? liz: well, the face alone. am i wrong? as my son would say, am i right? >> i can't wait for the irishman. liz: we'll be right back. neither can i. . . liz: two minutes left in trade. we're looking records for nasdaq and s&p. for the week all green on the screen. our countdown closer, investors listen up. a lot changed in the last 24 hours. david waddle. president and ceo of waddle and associates. what changed? >> well, i mean we got three things in play here. the markets are right to rally. you got a rate cut from the fed. that is good news. the big news, they're committed to another trillion dollars of money printing and stimulus. that's huge. number two, you got really good number, a relative to where it has been out of china and the united states on the pmi reports. in the white new orders were up. new exports were up. employment numbers were up

steve: treasury secretary -- steve mooch -- mnuchin treasury secretary.one left peaceably. now charles payne. charles: thanks a lot, good afternoon, everyone, i'm charles payne. this is making money. dow, s&p, back at all-time highs. powered by strong corporate earnings and a massive epiphany on wall street that the good times could last well up to 2020. there is the usual china trade scuttlebutt. remember our economy is soaring, wages, homeownership, jobs, all soaring at the same time there are 360 billion in tariffs in effect. our experts are here to tell us where they think the trade talks are going to go and where you can see your best investment opportunities at this moment. presid

china's top negotiator, liu he, speaking with treasury secretary steve mnuchin and trade representativelighthizer overnight. according to china's ministry of commerce in a statement, china says both sides discussed resolving core issues of common concern and reached consensus on how to resolve related problems ahead of a phase one trade agreement. in hong kong, chief executive carrie lam making her first weekly briefing since this past weekend's elections, appearing to offer no new concessions to protesters, despite the overwhelming pro-democracy electoral victory over the weekend there. >>> and fed chairman jay powell speaking yesterday evening in rhode island, signaling that interest rates are unlikely to rise any time soon and that the bank remains committed to its 2 porti2% inflation target >> monetary policy is now well positioned to support a strong labor market and return inflation decisively to our 2% inflation objective. at this point in this long expansion, i see the glass as much more than half full with the right policies, we can fill it even further, building on the gains s

he is very close to steve mnuchin. he was sort of put on details of the white house during tax reform to help them coordinate their messaging there. and within the white house tax reform, again, that passed it's seen as one of their big victories, one of the moments where they were all on message and they were able to herd congress together for sort of one purpose. he is very well liked by jared and ivanka, who push for his hiring. so the potential could be for him to come in and coordinate the communication staff and the messaging across the hill among tv surrogates, across different agencies who are coming on. that's the thinking there too. but the white house still lacks someone big picture who reports directly to the president, who has the broad view across agencies because of course omb is involved, the energy department is involved, who has relationships at a high level with members on the hill, who can communicate with them. they still lack essentially a quarterback to manage this. and that's why i think it soun

now what steve mnuchin and peter navarro said. of the seven chapters of the agreement has been more or less agreed to. that's what the president meant today when he said 60% of the deal is done with phase one. but the chinese have continued to resist. they noblized with secretary pompeo, used the term lobbyists for china. china lobbyists in washington, d.c. and american business have made it very difficult for to us come to terms with the level of hostility from china toward our country. lou: there is no reason for this administration, this administration to rationalize it further. this is an he an inescapable confrontation on the part of the chinese. they are reneging on the may withdrawal on what was perceived to be an agreement. and this is not an accident in has been no diminishment whatsoever of their cyber attacks, on their intellectual property theft, of their trade theft and espionage against this country during this process that was leading up to we had hoped and understandably so that would result in a deal with china. i

the kudlow comment which i'm surprised is coming from kudlow, not the trade representative, not steve mnuchinthe treasury secretary. but nonetheless, he's holding forth on concessions and whether there will be a deal. we are hearing a lot of comment from obviously chinese sources about a phase one agreement and they are speaking as if there is great certainty about it in the rollback of tariffs. including current tariffs as well as the december 15 imposition of further tariffs. >> i'm not sure, i didn't read that story. i didn't talk to larry today. there is no agreement at this time to remove any of the existing tariffs as a condition of the phase one deal. the only person who can make that decision is president donald j. trump. it's as simple as that. lou: it's as simple as that, and now seemingly more complicated. because we are watching u.s. news organizations reporting the chinese view in statements without response from the white house until by the way, just until you said what you did, and larry kudlow said what he did just moments ago apparently. the idea that we are watching news org

about what tariffs would do to their business not just here but in the states that is something steve mnuchinnd those in the u.s. have picked up on and applaud it. what they talked about today saying we don't know, we've looked to see. that is a reflection that europe just like china had to wait and see, often quite last minute the finance minister from the slovakian government, he thought as of right now he was more confident of the economy on the auto sector. he would be more optimistic now than he would be, say, a month ago. this is really not easy to answer but i hope that we are asking in the way that will avoid the tariffs but decisions are on both sides. the deal is always about the opinion of both sides but i am really, really confident that this would harm our trade relations that is not helping anybody in these wars and protectionism is bringing nothing to the economies of u.s. and economy of european union. >> president trump has implied, he won't look to move forward with broader tariffs anytime soon wilber ross also saying he doesn't think it will be necessary as members of the s

what steve mnuchin and peter navarro said i believe is correct. of the seven chapters have been agreed to. but the chinese have continued to resist. they mobilize with what secretary pompeo used the storms lobbyists for china, china lobbyists in washington, d.c., and american business have made it very difficult for to us come to terms with the level of hostility from china toward our country. lou: there is no reason for this administration, this president, his administrationing to rationalize it further. this an inescapable confrontation on the part of the chinese. it's not an accident they are reneging in the last moments of the may withdrawal from what is perceived to be an agreement. and this is not an accident. there has been no diminishment whatsoever of their cyber attacks, of their intellectual property theft and trade theft and espionage during this process leading up we had hoped and understandably so would result in a deal with china. it appears that deal is hanging by a thread, if you will. >> i think what you see if you examine vice p

this afternoon were grateful to be joined by steve mnuchin, secretary jeans scalia and i heard you're doing a good job over there and labor is doing okay. your numbers are certainly doing very good. it's a good time to be the department of labor. >> thank you very much. secretary alex azar. thank you. an administrator steve, thank you very much. this is an unusual group all over the place. i want to welcome kevin brady, michael burks, they been so fantastic on getting us to a really good position with the taxes and will be doing a major middle income tax cut if we take back the house and will be talking about that sometime later but were going to be doing a very major middle income tax cut mostly devoted to middle income who have really been big beneficiaries of the tax cut which we did which was the largest in the history of our country. but were doing a major tax cut for the middle income and that will be subject to taking over the house because democrats like tax increases not tax cut. i also want to think our state leaders, we have a lot of state leaders at the highest level and i

lou: negotiations with robert light here is and steve mnuchin. >> there are decades of if there was pressured roll over. we just have to keep to it. lou: huawei a national security threat or not? this is as confusing matter. some companies are given waivers to do business with a national security threat as this administration has designated them. what is going on? there is so much ambiguity in cross purpose here when it comes to huawei. >> the chinese government is subsidizing huawei to set up 5g networks worldwide as part of a chinese global intelligence network. lou: china is roaring ahead with 5g. >> it is. but this advantage, this economic advantage is how china is getting this technology into countries worldwide not just to steal military and strayed secrets, but personal information worldwide. lou: i understand. but what i don't comprehend is how there can be so much ambiguity whether they are a national security threat with these waivers grant towvmentd s. companies doing business with them. it's as if to say the come any making money can continue to do so with them. but for everybody

a good and cordial meeting with federal reserve chairman jerome powell and treasury secretary steve mnuchinmeeting they said all decisions going forward will remain non-political. we'll try to figure out what that means. a remind tore listen to my reports three times a day on the salem radio network. house minority leader is demanding abc news turn over the information on the spiked jeffrey epstein report. they are requesting abc us in president provide an answer on why abc news refused to run a report on an alleged epstein victim. the congressman calling on abc to provide congress with the victim's interview that was spiked. "the hill" is reviewing john solomon's ukraine reporting. shell scrutinize that after -- shell scrutinize that after it came front and center with marie yovanovich. yovanovich disputing that she provide a do not prosecute list that includes yurks ri poroshenko. some moan said it won't be hard -- solomon said it won't be hard for "the hill" to review these since all my source documents are original interviews and are transparently linked for all to see. joining us, sit

this afternoon we're graltful to be joined by secretary steve mnuchin. secretary gene scalia. good time first base department of labor. >> a great story to tell. >> thank you very much. good. secretary alex azar, thank you, alex. and administrator sheena verna. they're spread all over the place. i also want to welcome kevin brady, michael bunch us and greg walden. they've been fantastic on getting us to a really good position with the taxes. we're going to do a major middle income tax cut if we take back the house. and we'll be talking about that sometime later, but we're going to be doing a very major middle income tax cut, mostly devoted to middle income who have really been big beneficiaries of the tax cut we did which was the largest in the history of our country, but we're doing a major tax cut for the middle income. and that will be subject obviously to taking over the house, because democrats like tax increases, not tax cuts. i also want to thank our state leaders. we have a lot of state leaders here today at the highest level. i want to thank them for being here, and a

steve mnuchin says they haven't i am. the trump administration certainly wants them out.e of the most nine era trade you can assess in washington these days if you are in the financial sector. if trump wins reelection, you should go long fannie and freddie. if you think he will not win reelection, you should short fannie and freddie. that thewinseven the timelines treasury has laid out, regulators have laid out, you are not going to see an ipo of their shares until 2021 at the earliest. that would carry into a second administration or perhaps a democratic administration. it is a democratic administration, all bets are off. a democratic president, particularly with the the directioneep, the way the party is going, they have a different vision for these companies. contenth warren may be keeping them as a government utility for the rest of eternity. very binary trade. david: you said the magic word, elizabeth warren. she is in the news on another financial regulatory issue, and the apple card and goldman sachs. she and sherrod brown have written asking, pay attention to what

the chinese vice premier in discussions with steve mnuchin and lighthizer. and they talked about the central concerns for both sides. we know in the last few weeks they have been working on the details around things like agricultural purchases, commitments from china in terms of time frames and amounts and intellectual property, how to put that framework in place, what will satisfy the u.s. and the chinese side. make sure there is relief in terms of partial tariff rollback. we know those issues have been discussed the last few weeks. seems the discussion over the weekend may have move things forward a little bit. it also comes down to the fact that in the final stages, often they are the most contentious, and they are often where they break down. so that is the risk i guess looking at these trade talks. and of course president trump has not made it clear where he stands in terms of how much progress has been made. we heard from him earlier this month saying he could be willing to put substantial additional tariffs in place on china if they do not get a deal

steve mnuchin. steve mnuchin is in his cabinet. you talk about black people being on the bus? what about in his cabinet? his cabinet is the wealthiest, whitest cabinet in america. the key to it is when i talk about 98 of those judges were quite in one african-american and one hispanic, and you are telling me, he got, we got this host: got your point. guest: that is food for thought. i will have to research that and see how right you are on that. i can say this, you can google billionaires and their support. you will see in the last election the billionaires supported the democratic party 20-1, every former president voted for the democratic party. the establishment was overwhelmingly democrat. 419 newspaper endorsements from 19 for george w. bush. all of hollywood totally supported. when donald trump became president and announced a gdp of 3%, he was scorned by every major economist in the world. 100%. there wasn't one who broke and said i think he can do it. 100% against it. and it worked. and he did it. so the growth of the economy is good for all of us, regardless of our ra

trade representative, and treasury secretary steve mnuchin are getting on the phone today again the lou he -- with liu he, top chinese negotiator. the goal is to hash things out. the two sides have been working on this mid-november target, which initially was linked to the apec summit in chile that was due to take place this weekend. that is where the two leaders were going to sign this thing. that is not taking place anymore. they are still searching for a signing venue. that's a lot that could go wrong here. we had false starts before. but right now, all signals are that we are in that end game. guy: is the biggest risk to a phase i deal what is happening in hong kong? a big that is definitely risk. the risk there is what happens in the u.s. congress as a response to that. there's a lot of senators on the republican side getting anxious about passing a bill that would allow the u.s. to review hong kong's special trade status. it is clear that a lot of trump's conservative base is following what is happening in hong kong incredibly closely. there's a lot of china hawks in his administr

trade representative's robert lighthizer and steve mnuchin to return to china for more talks.tion has not been excepted yet. a new confrontation between the two countries could put the trade deal in jeopardy. president trump is expected to sign legislation supporting hong kong protesters. china calls the measures "a grave violation of international law." there's a sign that the u.s. labor market may be softer than previously thought. filing for unemployment benefits on excitedly held last week at the highest level since june. jobless claims were unchanged at 200 when he 7000. in india, premised are narendra the economy back on center stage. the indian government is selling its stake in the company's , andst shipping company has approved a proposal to cut its stakes below 51% in other companies. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm berdych a gupta. this is bloomberg -- i'm ritika gupta. this is bloomberg. guy: let's get more from the bloomberg new economy forum in beijing. b

reporter: what we know there was a phone call between robert lighthizer, steve mnuchin and counterpart liu he and his associates from china and the u.s. trade representatives office described the phone call as quote, constructive. this was part of a readout the u.s. provided afterward, quote, the negotiators achieve progress in a variety of areas and are in the process of resolving outstanding issues. the readout from china was a bit different. there was consensus in principle but one source i spoke with familiar with the elections, the readout from china, buyer beware. as the phone call, larry kudlow, the president's top economic advisor says that the deal, the phase one agreement is virtually completed as it relates to agriculture, financial services and currency manipulation but he also acknowledged that some of the thornier issues still need to be tackketted. >> enormous progress has been made on intellectual property theft issues. that was not completed. there is lots of progress. forced transfer of technology. there is some progress. that will probably slip into phase two. report

he could have called steve mnuchin said give give me the list of corrupt players in ukraine.to the president about it. . the only thing he cites a a favor is crowd strike server biden. >> you've seen a select curated group of witnesses and haven't seen the transcripts. we don't know what they said. we have seen the fripts zboo of the opening statements. >> we have seen the transcript of the president's phone call he says a favor for us. the favor is servers and another one biden. >> we get to see in this process -- you get to see all the information will be all laid out. >> let me tell you honestly what irnl. i think urine credibly smart guy. >> thank you as a compliment. >> i'm not saying that. and i respect your positions. but i think you believe you got to circle the wagons just like after the "access hollywood" tape either with us or against us. >> you're so single. >> it's not. >> here is the thing. >> i think you overlook. >> this is the thing no, no. >> he is doing good things in your mind and you support him. >> aerz anderson. >> why can't people argue that i understa

treasury secretary steve mnuchin and robert lighthouser requested the conversation with their chinesenterparts and both parties agree to stay in close contact. reuters reported that the trump administration is expected to once more extend the ability of u.s. companies that do business with chinese telecom violent huawei they placed the tech company on an economic blacklist due to concerns over national security. our colleagues will join us live in the chinese studio. you spoke to huawei's chairman just a few hours ago how did he react to those reports? >> yeah. fascinating, willem. he was really down playing any potential impact from either the trade deal or an extension of licenses to u.s. companies selling technology to huawei the message largely seemed to be nancy, it's not going to affect us hugely. >> they would say that right they want to take advantage of their home market which is stoet be the largest 5g market in the world. so of course that's the message we have been hearing from huawei for quite some time. but i was equity surprised when you asked the chairman to what exten

plus we've just learned treasure secretary steve mnuchin had a phone call hours with the chinese viceremier. the u.s./china trade war. does this mean they're making progress? we'll have more. at leaf blowers. you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading commission free today. d♪ and you wrapped your arms aaround me for days ♪ after being a part of millions of love stories... ♪ ...at kay, we've learned the most important love story... will always be your own. every yes. oh my gosh, yes. begins with kay. get zero down special financing with the kay jewelers long live love credit card. too many after-parties. new neutrogena® bright boost with dullness-fighting neoglucosamine. boosts cell turnover by 10 times for instantly brighter skin. bright boost neutrogena®. you may have gingivi

almost as though the trade hawks in the white house believe that those like larry kudlow and steve mnuchin. president trump is not ruling out a deal and he said we're close so no reason to get discouraged. but then the third category. the glass totally full camp. they saw larry kudlow standing at the president's side and say, wow, the president respects larry to repeatedly referring to him at this luncheon and makes them think a deal might be imminent when larry spoke to cnbc later in the afternoon he talked about agreement with the chinese government allowing financial firms in china and made it sound like a matter of time when we're close to a deal and then it rallied and when it went back down and we heard the tariffs might be boosted, it looks like it could go really low but then it bounced again and once tuesday full crowd started chiming in i think the optimism is unhinged but clearly money managers believe that this is not nearly as good as this. let me give you another example. automation just a second. this is a really important cute card that is showing you exactly what kind of c

but at that big investment conference, steve mnuchin, the treasury secretary was there.ean, it's really outrageous, don't you think? that corporate america can't hold itself to a -- liz: it's horrible. it's horrible. and, you know, sir richard branson didn't take saudi money. >> listen, i get they have a lot of money, i get they're rich, but do you really have to kiss their rear end that much? liz: charlie, thank you. the dow, as i said, flipping back and forth across the flat line. we're now down nine points. another nail-biter. we're only four minutes away from the closing countdown. don't go away. ♪ . . ♪. liz: two minutes to go. it will be a photo finish for the dow jones industrials as the index swings between red and green. the s&p on pace for all-time record close. any gain there, if the dow can make it green, that is all-time record too. we're joined by pacer etf distributors president, sean o'hara. we're getting spoiled here. this is unbelievable. >> -- doesn't it, liz. this is all good news. liz: just as it looks easy, makes us wonder what if things get more ch

pam bondi, the former florida attorney general, and tony sayegh, who was steve mnuchin's chief spokespersonuc and sort o led the communication or helped lead at least the communication strategy on tax reform, which the white house views as a success. it's probably going to be several weeks before both of them are there and up and running. so on the congressional side the republicans in the senate are en talking about trying to fill in that void. but, again, as you saw that messageas coming from lindsey graham, this idea that they're too confused, too incompetent to pull offen a quid pro quo, thats probably not a line of defense that is going to be very effective. so there's still -- yeah, they're searching for this message. it's been weeks now. and this is probably going to b over with by the time they come up with. >> we've talked about the various lines of defense that have come up. there is trump was fighting corruption. there is the he wanted europe to put more money into it. there's the it was a quid pro quo but it's not illegal. the lindsey graham defense, this is new and interesting. t

treasury secretary steve mnuchin talked by phone with the chinese vice premier today. call according to the u.s. was constructive and they made progress in a variety of areas as they are in the process of resolving outstanding issues. now the chinese read on the call similar but adding that they reach consensus on principles. that last part is exactly what president donald trump sat back on october 11th. the bottom line is that progress was made today. white house economic advisor larry kudlow said the two sides are almost finished on the agriculture section. he says the financial services section almost finished were american companies will now be for us to partner with chinese companies. kudlow said the current manipulation section almost finished. one big thing hangs out there. >> enormous progress has been made on the intellectual property theft issues, that one is not completed but there's lots of progress. speak of the forced transfer of technology section will be in phase two, the deputy level calls will continue to get that lynn good right. >> neil: all right m

also in the room, treasury secretary steve mnuchin. i'm told larry kudlow was a part of that meeting as well. in a statement the fed said that the president invited powell over here to the white house. the two talked about the about economy, employment, growth, inflation. afterwards president trump provided his own readout of the meeting, took to twitter. said quote, just finished a very good and cordial meeting at white house with jay powell of the federal reserve. everything was discuss, i had concluding interest rates, negative interest, low inflation, easing, dollar strength and the effect on manufacturing, trade with china, eu and others. interesting the president said this was cordial, there is arguably no bigger target for the president than powell. for example, last week at the economic club of new york the president said the fed has suppressed stock market records. >> if we had a federal reserve that worked with us, you could have added 25% to each one of those numbers, i guarranty you that. that doesn't happen. [applause] but

trade representative lighthizer, steve mnuchin and liu he discussed core issues in a phase one trade deal jonathan fenby with ts lombard speaking of phase one, i think most people forget that the reason talks fell apart earlier this year was over enforcement because the chinese side didn't want to write into law any of these binding commitments. how will they actually enact enforceability this time around if china still are being reluctant on that front? >> well, and they put off a lot of those kind of thorny issues, too, a potential phase two, which may never, of course, come to pass. i mean, the enforcement is the big issue. we had china saying it will increase penalties for intellectual property infringement, but how is that going to be enforced is it going to be by chinese courts, which the americans might not have much faith in that remains really a black box, an open question. >> actually, i want to ask you about that, because there is announcement on sunday saying that the chinese government were introducing a document to call for the protection of intellectual property. do yo

reporting, during a meeting last thursday, between speaker nancy pelosi, pelosi, treasury secretary steve mnuchin appropriators, the two sides agreed to set aside the border wall stalemate for the moment and move forward with other spending bills. the house is voting later today on the agreement which would last until december 20. >> the current stop-gap expires this thursday night. >>> let's bring in meteorologist bill karins for a quick check of the weather forecast a lot of rain in the northeast yesterday. >> yes, not even thanksgiving yet and i'm asking myself why i'm living in the northeast. >> that usually coming in january or february. >> a little early this year. i'm sure i'm not alone. look out the window in the hudson and theed a r adirondack the snow has moved it. it is not heavy but slippery spots especially at the higher elevations that will move out pretty quickly throughout the day. the morning commutes are about as ugly as they get, boston, mass pike, to portland, rainy and wet and dry for you. and the snow in the northwest. it is not a big event. dewould have winter weather warni

there is steve mnuchin there as well. he is taking the process how it is built in the facility.re showing three different locations, two others to to show how the expensive computers are put together this is about american jobs and american enterprise. we know apple has broken ground on their one billion dollar austin facility this morning. they are set to employ 15,000. largest employer in austin. they have a burgeoning friendship. a discussion, understanding discussions at least, global trade and finance. apple is one of the largest employers across america. they want to invest $250 billion up until 2023 back into u.s. economy and take the headcount above 100,000. there is lot of incentive to have a relationship. melissa: thanks, susan. i would ask people in the booth if there is natural sound. we would love hear the ambient noise. connell: we're just hearing camera clicks. it's a pool feed. it is not one of our cameras inside. of it is just a camera, picking up conversation the camera itself a bit away would pick up. the president speaks farley loudly. melissa: when he was up

he could have called up steve mnuchin and said give me a list of the most corrupt players in ukraine. didn't. the only thing he sites is a favor as cloudstrike serve, biden. >> you've seen a select curated group of witness, and you haven't seen the transcripts. well don't know what they said. >> we've seen the transcript. >> of their opening statements. >> we see in the transcript of the president's phone call and it says a favor for us. the favor is server, and another one, biden. >> we're going to get in this process, you're going get to see all the information. it will all be laid out. >> let me tell you honestly what i believe. i think you're an incredibly smart guy. >> that's not a compliment. >> no, and i respect your positions, but i think you believe you got to circle the wagons, just like the "access hollywood" tape. you're either with us or against us. >> you're so cynical. >> but it's not. >> here is the thing. >> i think overlooks -- lies so easily. he is doing good things in your mind and you support him. >> anderson. >> why can't people argue that? that people understand

but the treasury secretary, you saw pictures of him with the president, steve mnuchin has said we're not giving these to you because you don't have a legitimate need. congress has a legitimate need if it's legislating. so you don't meet the terms of the statute. the government basically says, number one, this is not an issue for the courts. the court should bug out. this is a fight between two branches of government and the court should just stand aside and let them work this out. give us a chance to accommodate the house request is what the government says here, although it doesn't show much signs of a accommodating. but it also says the roots of this are political, that the democrats in the house have been talking about wanting to get their mites on the president's tax returns since the day he was elected. for all those reasons it should be rejected. the house has the law on its side, so we'll see what the judge says. >> pete, keep us posted. thank you. appreciate it. >>> coming up after the break, we're talking more about election results and what they may show about the suburban

don't know if the president will side with the free trading technocrats in his own administration steve mnuchinry kudlow, or if he'll side with the populists led by trade adviser peter navarro. we don't know because the president is using the doves as characters and increasingly i think he sides with the hawks. they're confusing resolve and hard bargaining their style with the style of the populist. from let's bag the ornithology for a second mnuchin and kudlow represent the old style technocrats. they they believe in free trade. people like henry kissinger or goldman sachs along the henry paulson who happens to be the former treasury secretary and same with john thornton. they stand with free china, happy warriors the populists don't buy that line of thinking for one second. they think the technocrats are only doing what's good for big business, for the wealthy, the elites not that's nestle what's good for america. let's take it one step further the populists in the trump administration, they don't want more trade they want china to make seven major concession navarro calls them the seven dead

the vice premier spoke with steve mnuchin in a call that came at washington's request.g into their final stages. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in 120 countries. i am su keenan. this is bloomberg. shery: we have breaking news. we have heard that a line of the will be -- that deal done through a share swap. they will become a joint company . sharend is the holdings z holdings shares have been suspended. they had been looking to merge. we are finally hearing about the merger plan, which could be signed in december. we have heard from local media z holdings will be the parent of yahoo! and line and will be held by the current z holdings ceo. we are getting the merger plan, which will be done through a share swap. in the meantime, let's get a check on markets that have been trading for about half an hour. what are you seeing? >> the aussie dollar just yields on while aussie are continuing to dip for the fifth straight session. i want to highlight shares that after a boost to earnings guidance. on