Bloomberg says he’d vote to convict Trump if he were a senator

Former New York City Mayor Michael Bloomberg would vote to convict President Donald Trump if he were a senator, he told Craig Melvin in an exclusive interview that aired on NBC’s “TODAY Show” Monday. “I’d have to swallow two or three times, but I would say I would vote to convict because there’s so much evidence that he acted inappropriately,” said Bloomberg, who’s running for the Democratic nomination. Bloomberg and Trump both hail from New York and have long known each other. On Friday, the pr


Former New York City Mayor Michael Bloomberg would vote to convict President Donald Trump if he were a senator, he told Craig Melvin in an exclusive interview that aired on NBC’s “TODAY Show” Monday.
“I’d have to swallow two or three times, but I would say I would vote to convict because there’s so much evidence that he acted inappropriately,” said Bloomberg, who’s running for the Democratic nomination.
Bloomberg and Trump both hail from New York and have long known each other.
On Friday, the pr
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Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: rachel elbaum
Keywords: news, cnbc, companies, vote, states, bloomberg, convict, staffers, theres, race, nomination, trump, hed, democratic, york, president, senator


Bloomberg says he'd vote to convict Trump if he were a senator

Former New York City Mayor Michael Bloomberg would vote to convict President Donald Trump if he were a senator, he told Craig Melvin in an exclusive interview that aired on NBC’s “TODAY Show” Monday.

“I’d have to swallow two or three times, but I would say I would vote to convict because there’s so much evidence that he acted inappropriately,” said Bloomberg, who’s running for the Democratic nomination.

However, Bloomberg called the impeachment process “not good,” and said that the country would be “much better off letting the voters decide who is president.”

Trump’s impeachment trial in the Senate starts Tuesday afternoon and his defense team is expected to include Ken Starr, the prosecutor whose investigation two decades ago led to the impeachment of President Bill Clinton, along with former Harvard law professor Alan Dershowitz, to his defense team.

Bloomberg and Trump both hail from New York and have long known each other. On Friday, the president criticized Bloomberg on Twitter, mocking his refusal to participate in the Democratic presidential debates.

Bloomberg spoke with NBC News during a campaign stop in Tulsa, Oklahoma, where he made a pitch to African American voters on Sunday, speaking about race-based economic inequality. He outlined a proposal aimed at increasing the number of black-owned homes and businesses, including a $70 billion investment in the nation’s most disadvantaged neighborhoods.

Bloomberg has been criticized for the stop-and-frisk policy he supported as mayor where New York City police officers made it a routine practice to stop and search multitudes of mostly black and Hispanic men to see if they were carrying weapons. He apologized for it in November, saying he got it wrong.

“When we did it, it got out of control. When I noticed it, we did a little test of seeing what happens if you stopped it. Everyone said crime would go up. It didn’t, so I said lets get rid of it,” he said in the interview.

“When I left office, 95 percent of it was gone, and I wished I had apologized earlier. Plain and simple,” he added.

The New York billionaire, who built his fortune through the financial information company he founded, only entered the race for the party’s nomination in November — a choice he made after looking at the other Democratic nominees.

“I looked, and I didn’t think any of them could beat Donald Trump. Some, in fact, would almost guarantee his re-election,” he said of the other Democratic nominees, though he declined to name specific contenders.

Spelling out why he feels Trump is so dangerous, Bloomberg said that his impetuous style was hazardous for the country.

“It’s his process and lack of inclusiveness and getting advice from people. I always joke there’s no ‘I’ in the word team. The way Donald spells it, there’s no T, E, A or M, and that’s not the way to accomplish things,” he said.

Bloomberg’s late entry into the nomination race meant that it was too late to build organizations in Iowa and New Hampshire and the other early states, he said. In the weeks since his entry, he has built a sizable campaign operation, with many hundreds of staffers in dozens of states. The first test of Bloomberg’s electoral strength will be on Super Tuesday on March 3.

If he loses the nomination, that army of staffers would go on to help the eventual nominee, he has said.

Since entering the race in November, Bloomberg has hired more than 800 staffers, including 500 field organizers and staff in more than 30 states and another 300 staffers in his campaign’s New York headquarters.

He’s already unleashed more than $100 million on advertising and is on track to have a dozen offices in Ohio, nine in Michigan and 17 in Florida, his campaign has said.

— The Associated Press contributed to this report


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: rachel elbaum
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Trump urges Senate to reject impeachment as affront to US Constitution

President Donald Trump on Monday rejected the Democratic-led House of Representatives’ impeachment charges, describing the allegations that he had abused his power and obstructed Congress as affronts to the U.S. Constitution that must be rejected. “The Senate should speedily reject these deficient articles of impeachment and acquit the president,” an executive summary of the Republican president’s pre-trial brief said in Trump’s first comprehensive defense before the start of his Senate trial. T


President Donald Trump on Monday rejected the Democratic-led House of Representatives’ impeachment charges, describing the allegations that he had abused his power and obstructed Congress as affronts to the U.S. Constitution that must be rejected.
“The Senate should speedily reject these deficient articles of impeachment and acquit the president,” an executive summary of the Republican president’s pre-trial brief said in Trump’s first comprehensive defense before the start of his Senate trial.
T
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Trump urges Senate to reject impeachment as affront to US Constitution

US President Donald Trump gestures as he speaks during the Announcement of the Guidance on Constitutional Prayer in Public Schools, at the White House in Washington, DC, on January 16, 2020.

President Donald Trump on Monday rejected the Democratic-led House of Representatives’ impeachment charges, describing the allegations that he had abused his power and obstructed Congress as affronts to the U.S. Constitution that must be rejected.

“The Senate should speedily reject these deficient articles of impeachment and acquit the president,” an executive summary of the Republican president’s pre-trial brief said in Trump’s first comprehensive defense before the start of his Senate trial.

Trump, only the fourth of 45 American presidents to face the possibility of being ousted by impeachment, is charged with abusing the powers of his office by asking Ukraine to investigate a Democratic political rival, Joe Biden, and obstructing a congressional inquiry into his conduct.

The executive summary asserted that the “House Democrats theory of ‘abuse of power’ is not an impeachable offense.” It rejected the obstruction of Congress charge as frivolous and dangerous, saying the president exercised his legal rights by resisting congressional demands for information.

It accused the House Democrats of conducting a rigged process and said they succeeded in proving that Trump had done nothing wrong.

While the Republican-controlled Senate is highly unlikely to remove Trump from office, it is important for the Republican president to diminish the Democratic accusations as a partisan witch-hunt. He needs to limit the political damage to his re-election bid as he seeks a second term in November.

Trump’s legal team says he was well within his constitutional authority to press Ukraine President Volodymyr Zelenskiy last year to investigate Biden and his son Hunter as part of what Trump says was an anti-corruption drive. The Bidens deny any wrongdoing and Trump’s allegations have been widely debunked.

Democrats say Trump abused his power by withholding U.S. military assistance to Ukraine as part of a pressure campaign and obstructed Congress by refusing to hand over documents and barring administration officials from testifying, even when subpoenaed by House investigators.

Trump’s team says he is protected by the U.S. Constitution’s separation of powers provisions.

In a 111-page document filed before the Senate trial begins in earnest on Tuesday, Democratic lawmakers laid out their arguments against Trump, saying the president must be removed from office to protect national security and preserve the country’s system of government.

Seeking to show he is still conducting presidential business despite the trial, Trump is scheduled to depart late on Monday for Davos, Switzerland, to join global leaders at the World Economic Forum. Some advisers had argued against him making the trip.


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Macron and Trump declare a truce on digital tax dispute

President Donald Trump and France’s President Emmanuel Macron shake hands as they meet, ahead of the NATO summit in Watford, in London, Britain, December 3, 2019French President Emmanuel Macron said on Tuesday he had a “great discussion” with President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs. Macron and Trump agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said,


President Donald Trump and France’s President Emmanuel Macron shake hands as they meet, ahead of the NATO summit in Watford, in London, Britain, December 3, 2019French President Emmanuel Macron said on Tuesday he had a “great discussion” with President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs.
Macron and Trump agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said,
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Macron and Trump declare a truce on digital tax dispute

President Donald Trump and France’s President Emmanuel Macron shake hands as they meet, ahead of the NATO summit in Watford, in London, Britain, December 3, 2019

French President Emmanuel Macron said on Tuesday he had a “great discussion” with President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs.

Macron and Trump agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said, and continue negotiations at the OECD on the digital tax during that period.

“They agreed to give a chance to negotiations until the end of the year,” the source said. “During that time period, there won’t be successive tariffs.”

France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than $28 million in France and nearly $832 million worldwide. Washington has threatened to impose taxes on French products in response.

French authorities have repeatedly said that any international agreement on digital taxation reached within the OECD would immediately supercede the French tax.


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European stocks slightly lower as caution returns ahead of Davos

European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference . The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%. Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instabili


European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference .
The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.
Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instabili
European stocks slightly lower as caution returns ahead of Davos Cached Page below :
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European stocks slightly lower as caution returns ahead of Davos

European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference .

The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.

Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instability are also likely to be on the agenda.

Elsewhere, the People’s Bank of China kept its loan prime rate unchanged on Monday, sending Asian shares higher. The decision came after President Donald Trump and Chinese Vice Premier Liu He signed a long-awaited “phase one” trade deal on Wednesday, easing tensions between the world’s two largest economies.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
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Dershowitz: Trump shouldn’t be removed from office even if he is guilty of House charges

Famed defense attorney Alan Dershowitz, who recently signed on to assist President Donald Trump’s impeachment legal team, said Sunday that Trump should not be removed from office even if he is guilty of everything the House has accused him of in the articles of impeachment. In response, the White House said the two articles of impeachment against Trump are a “dangerous attack on the right of the American people to freely choose their President.” And on CBS’s “Face the Nation,” House Judiciary Co


Famed defense attorney Alan Dershowitz, who recently signed on to assist President Donald Trump’s impeachment legal team, said Sunday that Trump should not be removed from office even if he is guilty of everything the House has accused him of in the articles of impeachment.
In response, the White House said the two articles of impeachment against Trump are a “dangerous attack on the right of the American people to freely choose their President.”
And on CBS’s “Face the Nation,” House Judiciary Co
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Dershowitz: Trump shouldn't be removed from office even if he is guilty of House charges

Famed defense attorney Alan Dershowitz, who recently signed on to assist President Donald Trump’s impeachment legal team, said Sunday that Trump should not be removed from office even if he is guilty of everything the House has accused him of in the articles of impeachment.

“Congress was wrong in impeaching for these two articles,” he told ABC’s “This Week.” “They are not articles of impeachment. The articles of impeachment are two non-criminal actions.”

Host George Stephanopoulos then asked, “Is it your position that President Trump should not be impeached even if all the evidence and arguments laid out by the House are accepted as fact?”

Dershowitz responded, “When you have somebody who, for example, is indicted for a crime — let’s assume you have a lot of evidence — but the grand jury simply indicts for something that’s not a crime, and that’s what happened here, you have a lot of evidence, disputed evidence, that could go both ways, but the vote was to impeach on abuse of power, which is not within the constitutional criteria for impeachment, and obstruction of Congress.”

Dershowitz was then asked if he agreed with a brief filed by Trump’s attorneys on Saturday, which asserted the president did nothing wrong by pushing Ukraine to investigate former Vice President Joe Biden, his son Hunter Biden and Democrats.

“I didn’t sign that brief. I didn’t even see the brief until after it was filed. That’s not part of my mandate,” Dershowitz said. “My mandate is to determine what is a constitutionally authorized criteria for impeachment.”

Pressed again, Dershowitz said, “There’s a big difference between what’s OK — what’s OK determines … who you vote for.”

“I’m a liberal Democrat who’s been critical of many of the policies of the president,” he continued. “I’m here as a constitutional lawyer, a lawyer who’s taught for 50 years constitutional criminal procedure at Harvard, taught a course on impeachment, taught a course on constitutional litigation.”

The president has been steadfast in his insistence that he did nothing wrong with respect to Ukraine,

last week: “I JUST GOT IMPEACHED FOR MAKING A PERFECT PHONE CALL!”

Democratic House managers in a brief filed Saturday called the president’s behavior “the Framers’ worst nightmare” and a “danger to our democratic processes.” In response, the White House said the two articles of impeachment against Trump are a “dangerous attack on the right of the American people to freely choose their President.”

Asked about Dershowitz’s assessment, Sen. Richard Shelby, R-Ala., told “This Week” that he agrees with the Harvard law professor “at this point.”

“But I would still wait and hear the arguments,” Shelby said. “I haven’t focused on it. Professor Dershowitz is an esteemed scholar of constitutional law. And he’s followed this and he’s outspoken, and a lot of people follow him. We have a lot of respect for a lot of his opinions. But ultimately, we will make that decision in the Senate.”

Democrats had a different take on Dershowitz’s analysis.

“Well, that’s the argument I suppose you have to make if the facts are so dead set against you. If the president has admitted to the wrongdoing, his chief of staff has confessed to the wrongdoing, his European Union ambassador has confessed to the same quid pro quo, you have to rely on an argument that even if he abused his office in this horrendous way, that it’s not impeachable. You had to go so far out of the mainstream to find someone to make that argument, you had to leave the realm of constitutional law scholars and go to criminal defense lawyers,” House Intelligence Committee Adam Schiff, D-Calif., told “This Week,” adding that Dershowitz’s interpretation “would have appalled the founders.”

Sen. Cory Booker, D-N.J., called Dershowitz’s remarks “stunning.”

“And I don’t know what signal we’re sending to future presidents if that’s the new standard in America, where you can openly solicit foreign interference, where you can hold up taxpayer dollars that, in fact, the Government Accountability Office says was illegal to do so in order to extort, to leverage foreign interference in our elections,” he said. “This is preposterous that this would not be an impeachable offense, that this standard in America is now that presidents could abuse their power to help in elections.”

And on CBS’s “Face the Nation,” House Judiciary Committee Chairman Jerry Nadler, D-N.Y., said he was “surprised” to see Dershowitz’s assessment.

“That’s simply ignorance,” Nadler, a House impeachment manager, said.

Is it your position that President Trump should not be impeached even if all the evidence and arguments laid out by the House are accepted as fact?


Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: allan smith
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New evidence shows Nunes aide communicated with Parnas on Ukraine

New evidence released Friday by House Democrats shows Derek Harvey, a former White House official and top aide to GOP Rep. Devin Nunes, communicated extensively with Lev Parnas about both Ukraine aid and setting up Skype interviews with former Ukrainian prosecutors. That is two days before call records obtained by the House show Parnas and Nunes spoke for more than eight minutes. He also sends information about Yuriy Lutsenko, Shokin’s replacement, who also later made allegations about Biden and


New evidence released Friday by House Democrats shows Derek Harvey, a former White House official and top aide to GOP Rep. Devin Nunes, communicated extensively with Lev Parnas about both Ukraine aid and setting up Skype interviews with former Ukrainian prosecutors.
That is two days before call records obtained by the House show Parnas and Nunes spoke for more than eight minutes.
He also sends information about Yuriy Lutsenko, Shokin’s replacement, who also later made allegations about Biden and
New evidence shows Nunes aide communicated with Parnas on Ukraine Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: josh lederman, phil helsel
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New evidence shows Nunes aide communicated with Parnas on Ukraine

New evidence released Friday by House Democrats shows Derek Harvey, a former White House official and top aide to GOP Rep. Devin Nunes, communicated extensively with Lev Parnas about both Ukraine aid and setting up Skype interviews with former Ukrainian prosecutors.

The messages show that Harvey was far more involved than previously known in what appears to be a robust effort by Republicans on the House Intelligence Committee to investigate Ukraine-related matters.

The text messages between Harvey and Parnas — who is the indicted associate of President Donald Trump’s personal attorney Rudy Giuliani, and who has claimed that Trump and other administration officials were aware of an alleged plan to get Ukraine to announce investigations into former Vice President Joe Biden and his son — start in February 2019 and continue into May.

An alleged effort by Trump to seek the Ukrainian announcement of investigations is central to articles of impeachment filed against Trump, which allege the president abused the power of his office for personal political gain in the 2020 election.

The documents released Friday include messages between Parnas and Harvey arranging times to meet and to speak by phone, and sharing articles and tweets about Ambassador Marie Yovanovitch and alleged Ukrainian meddling in the 2016 election, claims that have been called an unfounded conspiracy theory.

Read more from NBC News:

Trump may discredit an impeachment trial designed to acquit him

Trump lawyer dismisses photos of the president with Lev Parnas, other evidence

L.A. teachers sue Delta after jet fuel spill over schools, playgrounds

On April 10, 2019, Harvey sent his boss Nunes’ contact information to Parnas, according to the documents released Friday. That is two days before call records obtained by the House show Parnas and Nunes spoke for more than eight minutes.

Also in April, Parnas sent Harvey websites with biographical information about former Prosecutor General Viktor Shokin, with the message: “This is the general prosecutor that got fired by Biden.” He also sends information about Yuriy Lutsenko, Shokin’s replacement, who also later made allegations about Biden and about Yovanovitch, according to the documents released Friday.

Harvey suggests holding one of the interviews a day later to allow himself “to prep a staff lawyer to assist.” He asks Parnas for “suggested line of questions” for the interviewee.

At one point, on April 19, Harvey tells Parnas that he believes “we are best served by sending the official letter and receiving documentation before any more interviews.” Ultimately, both Lutsenko and Shokin were interviewed by Rudy Giuliani, including on his most recent trip to Europe, the documents state.

Harvey also refers repeatedly to former The Hill columnist John Solomon, asking Parnas, “Any documents for us or are you going to keep working through Solomon?” In an April 12 text, Harvey says, according tot he documents released Friday, that “Solomon needs to get me the material,” although it’s unclear what material he’s referring to.

It’s unclear exactly why Harvey was involved in the interviews, but during the House impeachment hearings, Nunes suggested that Republicans on the House Intelligence Committee had been pursuing their own investigation into Ukraine’s actions during the 2016 election.

In one of their first texts, in late March, Harvey floats a theory to Parnas, which Harvey says is based on State Department sources. He suggests that the Obama administration doubled aid to Ukraine from 2015 to 2016 because “their hunch” was that the money would “get grafted” by Ukrainian officials, who in turn would give money to the Clinton Foundation and other “social justice causes.” He mentions to Parnas “rumors” that Ukraine’s government coordinated with the Clinton campaign and the FBI “to dig up dirt on Manafort in 2016.”

“If the increase in aid is accurate, then there’s a threat to pull,” Harvey wrote to Parnas on March 29.

Harvey’s boss, Nunes, is the top Republican on the House Intelligence Committee. After House Democrats obtained phone records showing calls between him and Parnas, he initially said he didn’t remember speaking to Parnas and called it unlikely. But more recently Nunes has revised his story and says he does remember talking to Parnas, but says the call was “odd” and that he directed Parnas to talk to his staff.

Neither Nunes’ office nor Harvey responded Friday night to a request for comment.

Parnas and another Giuliani associate, Igor Fruman, have been charged with making $325,000 in illegal straw donations to a super PAC supporting President Donald Trump, as well as with giving $15,000 to a second committee, amid a flurry of political donations to help them advance the interests of a Ukrainian government official and a Russian national seeking to break into the cannabis industry. They have pleaded not guilty.


Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: josh lederman, phil helsel
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Trump lawyers slam impeachment as attempt to overturn election as House calls him ‘threat to nation’

Trump’s lawyers slammed impeachment as a “dangerous attack on the right of the American people to freely choose their president” ahead of the election this November. The House of Representatives, for its part, filed a brief Saturday outlining its case against Trump and called him an “ongoing threat to the nation.” “President Trump’s misconduct presents a danger to our democratic processes, our national security, and our commitment to the rule of law,” the House filing states. Trump is accused of


Trump’s lawyers slammed impeachment as a “dangerous attack on the right of the American people to freely choose their president” ahead of the election this November.
The House of Representatives, for its part, filed a brief Saturday outlining its case against Trump and called him an “ongoing threat to the nation.”
“President Trump’s misconduct presents a danger to our democratic processes, our national security, and our commitment to the rule of law,” the House filing states.
Trump is accused of
Trump lawyers slam impeachment as attempt to overturn election as House calls him ‘threat to nation’ Cached Page below :
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Trump lawyers slam impeachment as attempt to overturn election as House calls him 'threat to nation'

President Donald Trump’s legal team accused House Democrats of trying to overturn the results of the 2016 election in a filing that lays out the White House’s formal response to the two articles of impeachment passed last month.

Trump’s lawyers slammed impeachment as a “dangerous attack on the right of the American people to freely choose their president” ahead of the election this November.

“This is a brazen and unlawful attempt to overturn the results of the 2016 election and interfere with the 2020 election, now just months away,” the president’s legal team said in its filing Saturday.

The filing was a response to a formal summons issued by the Senate notifying Trump of his impending trial and the charges against him. Supreme Court Chief Justice John Roberts, who will preside over the trial, administered an oath to senators on Thursday to do “impartial justice” with proceedings set to get underway Tuesday.

The House of Representatives, for its part, filed a brief Saturday outlining its case against Trump and called him an “ongoing threat to the nation.” The brief accuses Trump of abandoning his oath to faithfully execute the nation’s laws and betraying the public’s trust.

“President Trump’s misconduct presents a danger to our democratic processes, our national security, and our commitment to the rule of law,” the House filing states. “He must be removed from office.”

The House, after a three month investigation, voted on Dec. 18 largely along party lines to impeach Trump on charges of abuse of power and obstruction of Congress.

Trump is accused of abusing his power by soliciting the interference of a foreign nation in the 2020 presidential election. He allegedly did this by freezing foreign aid to Ukraine in order to pressure its government to open political investigations into former Vice President Joe Biden, a leading contender for the Democratic presidential nomination.

The president is also accused of obstructing Congress during its investigation by directing the White House to defy lawful subpoenas for witness testimony and documents. Witness testimony has become a major bone of partisan contention between the Democrat-led House, which has the power to impeach, and Republican-led Senate, which runs the trial.

Though Trump was impeached in December, House Speaker Nancy Pelosi waited weeks to transmit the two articles of impeachment to the Senate, as she sought to pressure Senate Majority Leader Mitch McConnell, R-Ky., to call additional witnesses during Trump’s trial. McConnell made no concessions, but several Republican senators have indicated that they are open to supporting further testimony.

Trump is the third president in U.S. history to face an impeachment trial. His defense team at the trial will include Ken Starr, who led the Whitewater investigation in the 1990s that resulted in the impeachment of President Bill Clinton in 1998.


Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: spencer kimball
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Trump’s Fed pick Judy Shelton faces obstacles to confirmation

Judy Shelton, U.S. executive director for the European Bank for Reconstruction and Development, speaks during an interview in Washington, D.C., May 29, 2019. The second, though, is a sticky legal question and centers around a provision in the Federal Reserve Act that prohibits two governors from the same district. ‘A perfect fit’ who faces headwindsOne strategy that could be employed is if Shelton had a residence elsewhere. A White House release Wednesday stated that she is from Virginia, though


Judy Shelton, U.S. executive director for the European Bank for Reconstruction and Development, speaks during an interview in Washington, D.C., May 29, 2019.
The second, though, is a sticky legal question and centers around a provision in the Federal Reserve Act that prohibits two governors from the same district.
‘A perfect fit’ who faces headwindsOne strategy that could be employed is if Shelton had a residence elsewhere.
A White House release Wednesday stated that she is from Virginia, though
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Trump's Fed pick Judy Shelton faces obstacles to confirmation

Judy Shelton, U.S. executive director for the European Bank for Reconstruction and Development, speaks during an interview in Washington, D.C., May 29, 2019. Andrew Harrer | Bloomberg | Getty Images

President Donald Trump’s intention to nominate economist Judy Shelton to the Federal Reserve comes with two pressing questions — whether she could be a future chair at the central bank, and if she even will be able to serve if confirmed. The first is largely a political question and would only come into play if Trump continues to be dissatisfied with Chairman Jerome Powell and chooses not to renominate him when his term expires in 2022. The second, though, is a sticky legal question and centers around a provision in the Federal Reserve Act that prohibits two governors from the same district. Governor Lael Brainard hails from the same Richmond region, though it’s not clear that there wouldn’t be a way around the rule. In an announcement Wednesday, the White House said Trump plans on sending Shelton’s name to the Senate, along with that of fellow economist Christopher Waller of Missouri, whose nomination is expected to face few obstacles.

“Legally, it’s absolutely correct that there is a stipulation that calls for the appointment of representatives from each of the districts and not having any two from the same district. So far, that looks like it poses a great constraint,” said George Selgin, director of the Cato Center for Monetary and Financial Alternatives, a libertarian think tank. “But in practice, for all kinds of reasons it hasn’t been a binding constraint.” Selgin pointed specifically to former governors Elizabeth Duke (2008-12) and Sarah Raskin (2010-14), both of whom also were from the Richmond district, which encompasses Washington, D.C. A Fed spokesman referred the issue to the White House, which declined comment. Shelton did not respond to a request for comment. The Federal Reserve Act states that “In selecting the members of the Board, not more than one of whom shall be selected from any one Federal Reserve district, the President shall have due regard to a fair representation of the financial, agricultural, industrial, and commercial interests, and geographical divisions of the country.”

‘A perfect fit’ who faces headwinds

One strategy that could be employed is if Shelton had a residence elsewhere. A White House release Wednesday stated that she is from Virginia, though she could be named to represent another district. On the political issue, speculation has been growing that Shelton would be a strong contender for the chair position should Trump not renominate Powell. The president has been a fierce critic of Powell for the chairman’s lead in raising interest rates four times in 2018 and for rolling back the trillions of dollars in asset purchases instituted by his predecessors. Shelton’s record on interest rates is somewhat complicated — she has criticized both the near-zero rates instituted during and for several years after the financial crisis, and the more recent moves to raise rates. Trump has pushed the Fed to cut rates and even urged the central bank to look at the negative rates pervasive in parts of Europe. Shelton also has spoken in favor of returning to the gold standard that backs the issuance of U.S. dollars, and opposes the practice of paying interest on reserves that banks store at the Fed.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: jeff cox
Keywords: news, cnbc, companies, district, pick, powell, judy, fed, shelton, trumps, confirmation, trump, faces, federal, reserve, interest, obstacles, house, rates, white


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Op-Ed: New York’s bail reform disaster is about to become a major election issue

That issue is the controversial bail reform law pushed through the New York State legislature by Governor Andrew Cuomo late last year. That’s even true for New York’s Democrat Governor Andrew Cuomo, who was most responsible for the bail reform bill passing last year. That’s a dramatic about-face for a party that celebrated the bail reform law it passed just 10 months ago as a paragon of economic and racial equality. The good news for the Democratic presidential candidates is that none of them ca


That issue is the controversial bail reform law pushed through the New York State legislature by Governor Andrew Cuomo late last year.
That’s even true for New York’s Democrat Governor Andrew Cuomo, who was most responsible for the bail reform bill passing last year.
That’s a dramatic about-face for a party that celebrated the bail reform law it passed just 10 months ago as a paragon of economic and racial equality.
The good news for the Democratic presidential candidates is that none of them ca
Op-Ed: New York’s bail reform disaster is about to become a major election issue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: jake novak
Keywords: news, cnbc, companies, disaster, law, york, presidential, issue, yorks, democratic, violent, trump, perfect, bail, major, oped, election, reform


Op-Ed: New York's bail reform disaster is about to become a major election issue

Now the story has become national news , and it’s a perfect example of the kind of easy-to-understand and emotionally charged issue that can become a major factor in a national election.

Making matters worse, some of the repeat offenders have been arrested for committing acts of anti-semitic assault and harassment just as New York is seeing a disturbing spike in those crimes.

In what’s becoming an almost hourly stream of depressing updates, New York’s newspapers, local TV news shows, and news sites are posting story after story about violent crimes being committed by people instantly released after arrests because of bail reform.

Less than three weeks after the law went into effect, it sure looks like the naysayers were right.

But critics of the law have been warning for months that eliminating bail was sure to put too many criminals with violent tendencies back on streets, even if they weren’t currently under arrest for very violent crimes.

That issue is the controversial bail reform law pushed through the New York State legislature by Governor Andrew Cuomo late last year. The law eliminates cash bail on the argument that cash bail discriminates against poorer defendants.

A story that’s beginning to boil over in New York is about to become a major issue in the 2020 election.

Crime stories also have a rare ability to energize otherwise non-politically active Americans. Ask anyone who lived through the urban crime waves of the late 1960s through the 1980s to confirm that.

In case you need to be convinced how big a political issue this could become, remember that violent crime stories are visceral in many ways. They often involve life and death, and can be easily painted in terms of “good guys” and “bad guys” with very little gray areas in between.

Crime stories also have a rare ability to energize otherwise non-politically active Americans. Ask anyone who lived through the urban crime waves of the late 1960s through the 1980s to confirm that.

If all of this sounds like something tailor-made for President Trump to take advantage of, you’re right. While he hasn’t commented on any of the crimes committed by any of the released offenders this year, he did preview the situation in a tweet last November:

Remember that Trump has already made a wedge issue out of sanctuary city policies and crimes committed by illegal immigrants. His decision to pinpoint those issues as a candidate helped him win over Republican voters in the 2016 primaries. But Trump could find even more bipartisan support by highlighting these no bail-related crime stories, which are already affecting Democratic elected leaders and their voters.

That’s even true for New York’s Democrat Governor Andrew Cuomo, who was most responsible for the bail reform bill passing last year. He stated earlier this week that he thinks some changes should be made to the law. But he didn’t say how or when. On the much more urgent side of that fence are six Democratic state senators from suburban Long Island, who now say they’ve made changing the bail reform laws their top legislative priority for the upcoming session. That’s a dramatic about-face for a party that celebrated the bail reform law it passed just 10 months ago as a paragon of economic and racial equality.

It would be a wise move for the Democratic Party’s national leaders to take a cue from those Long Island state senators. We’re just a Trump tweet away from New York’s bail problem from becoming something the entire party and its remaining presidential candidates will have to bear.

The good news for the Democratic presidential candidates is that none of them can be personally connected to the bail reform law the way the George H.W. Bush campaign successfully saddled then-Massachusetts Governor Michael Dukakis with prison furlough programs in the infamous Willie Horton ad. But the danger to the party as a whole is real. This is an issue that’s resonating in the suburbs, where polls show Trump’s support has been weakening.

The even better news is that some Democrats running could take almost as much advantage of this issue as Trump. That is, if they want to stand out from the still-crowded primary field. If Joe Biden resumes his push to present himself as the more moderate candidate, these crimes in New York would be a perfect trend for him to decry publicly. Strongly criticizing the no bail law would also be a perfect stance for Mike Bloomberg to take based on his strong anti-crime track record as New York City’s former mayor.

Of course it won’t be that easy. The Democratic presidential candidates on the campaign trail have so far mirrored the overall leftward shift of the party. That includes Bloomberg, who previewed his official entry into the presidential race by apologizing for the NYPD’s “Stop and Frisk” policy that left wing groups strongly opposed during his time in office.

In the American election game, it comes down to which candidate is the most persuasive. Right now, this bail issue is a perfect “jump ball” opportunity for any of the remaining presidential candidates to prove just how persuasive they can be. It’s likely that Trump and at least one of the Democrats running will grab hold of this issue. The only question is who will do it first.

Jake Novak is a political and economic analyst at Jake Novak News and former CNBC TV producer. You can follow him on Twitter @jakejakeny.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: jake novak
Keywords: news, cnbc, companies, disaster, law, york, presidential, issue, yorks, democratic, violent, trump, perfect, bail, major, oped, election, reform


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China to stick to ‘phase one’ commitments, holding trade deal through US election, TS Lombard says

China will likely do its part to uphold commitments in the “phase one” trade deal with the U.S., according to a report by London-based consultancy TS Lombard. In particular, Olcott said China “is willing and able to stick to” boosting imports from the U.S. and keeping the Chinese yuan stable. She added that this will ensure the deal holds until the U.S. presidential election in November. U.S. President Donald Trump and Chinese Vice Premier Liu He signed the partial deal on Wednesday in Washingto


China will likely do its part to uphold commitments in the “phase one” trade deal with the U.S., according to a report by London-based consultancy TS Lombard.
In particular, Olcott said China “is willing and able to stick to” boosting imports from the U.S. and keeping the Chinese yuan stable.
She added that this will ensure the deal holds until the U.S. presidential election in November.
U.S. President Donald Trump and Chinese Vice Premier Liu He signed the partial deal on Wednesday in Washingto
China to stick to ‘phase one’ commitments, holding trade deal through US election, TS Lombard says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: yen nee lee
Keywords: news, cnbc, companies, holding, chinese, phase, premier, trump, commitments, washington, president, china, deal, olcott, stick, vice, lombard, trade, election


China to stick to 'phase one' commitments, holding trade deal through US election, TS Lombard says

Chinese Vice Premier Liu He shakes hands with US President Donald Trump during a signing ceremony for trade agreement between the US and China in the East Room of the White House in Washington, DC, January 15, 2020.

China will likely do its part to uphold commitments in the “phase one” trade deal with the U.S., according to a report by London-based consultancy TS Lombard.

“Beijing is invested in the deal insofar as it helps the leadership’s drive to stabilize the economy and boost market confidence; at the same time, it is hoping for further tariff rollbacks in due course,” Eleanor Olcott, China policy analyst at the firm, wrote in a Thursday report.

In particular, Olcott said China “is willing and able to stick to” boosting imports from the U.S. and keeping the Chinese yuan stable. She added that this will ensure the deal holds until the U.S. presidential election in November.

U.S. President Donald Trump and Chinese Vice Premier Liu He signed the partial deal on Wednesday in Washington. That came after a trade war that lasted more than two years, during which the countries slapped elevated tariffs on each other.

The deal includes China increasing its purchase of U.S. goods and services by at least $200 billion over two years. Beijing must also “refrain from competitive devaluations” of its currency, according to the official document.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: yen nee lee
Keywords: news, cnbc, companies, holding, chinese, phase, premier, trump, commitments, washington, president, china, deal, olcott, stick, vice, lombard, trade, election


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