Donald Trump Indicted: Here's What You Need To Know

and election interference, and we have complete team coverage. Straight ahead, the NYPD searches for those responsible for drugging robbery victims, plus protesters fact the Tennessee capital after the Nashville school shooting. I'm Michael barn Far ahead, I'm Dom statown Swards Opening Day wins with the Meds and Yankees, The Devil stopped

the Rangers. That Nick's play in Cleveland tonight. That's all straight ahead on Bloomberg day Break, The business news you need disturn your day, and just one fifteen minute podcast each pointing on Apples, Spotify, the Bloomberg Business app and everywhere you get your podcasts. Good morning, I'm Nathan Hager and I'm Cameron Moscow. Here are the stories we're following today. It is a historic moment in American politics and law. For the first time ever, a former US president is

facing criminal charges. A grand jury in Manhattan is going ahead with a case against Donald Trump over hush payments to a porn star during the twenty sixteen campaign. We have team coverage for you this morning, beginning with Bloomberg Politics contributor Jeanie she and Zano. She says this will add fuel to a twenty twenty four campaign for Trump

that is already driven by grievance. His message has always been not just that he's a victim, but that his supporters are a victim, that this is a witch hunt not just against him, but of them. And he always says, if they can do this to me, they'll do this to you. Bloomberg Politics contributor Geanie Sheanzano and former federal prosecutor Robert Mintz says this is a big political gamble

for Manhattan's District Attorney Alvin Bragg. As a prosecutor, you better have all your ducks lined up, all your facts, all your witnesses that into place before you bring that indictment. On the other hand, they are racing against the political clock because they are not unmindful of the fact that there is an election coming up. Robert mans with the law firm McCarter in English. Former President Trump's lawyer says

his client could be arraigned as early as Tuesday. Well, Nathan, just moments after the news broke, the former president came out with a statement blasting the indictment, and we get details from Bloomberg's Jeff Bellinger. The former president came out swinging when he learned of the indictment. Trump said Manhattan District Attorney Alvin Bragg is behind a political witch hunt, and he called the indictment quote political persecution and election

interference at the highest level in history. He went on to say, quoting again, the American people realize exactly what the radical left Democrats are doing here. Trump's attorney says the former president plans to appear before New York authorities. He has not been told about the specific charges. Jeff Bellinger, Bloomberg day Break, Thank you, Jeff, And already Mike Pence

is weighing in on the news. The former Vice president tells CNN he thinks the prosecution of former President Trump is politically motivated, and Bloomberg's d Baxter continues our team coverage. Penn says, Manhattan DA Alvin Bragg ran on prosecuting Donald Trump and a long time since I was in law school. But I remember the old saying, you can indict a ham Sandwich right the threshold. The burden of proof is very low. Prosecutors make decisions, discretionary decisions about what they

bring all the time. Pence also says he will decide on whether to testify on the classified document in January six investigations in the next few days. In San Francisco, I'm at Baxter Bloomberg Daybreak, all right, and thanks. So we're also getting reaction from Capitol Hill as lawmakers worry about the potential for violence in the wake of the indictment. Amy Morris continues our coverage from the Bloomberg ninety nine one newsroom in Washington. Senate Majority Leader Chuck Schumer is

calling for peace by both Trump's critics and supporters. California Democratic Congressman Eric Swalwell says the indictment is a somber day for a Mary Erica and urged quote, let us neither celebrate nor destroy Georgia. Republican Congresswoman Marjorie Taylor Greene tweeted, quote the gloves are off and that Trump is the only one standing in the way of tyrants. Former House Speaker Nancy Pelosi says she hopes former President Trump will

peacefully respect the justice system. Current House Speaker Kevin McCarthy tweeted, the American people will not tolerate this injustice in Washington. I'm Amy Morris Bloomberg Day Break. Thank you, Amy. So now that this highly anticipated indictment has come down, what are the next legal steps for the former president? Bloomberg legal analyst June Grosso has that angle as we continue our team coverage. In some respects, Trump will be treated

like other high profile defendants. The Manhattan DA's office will work out a day and time for his surrender with his attorneys. Trump will be booked and fingerprinted, and his mug shot will be taken like any other defendant. He'll then be escorted to the courtroom for his arraignment. But remember, unlike other defendants, Trump will have a secret service can tingent with him at all times, and there'll be no

need to discuss bail. Bloomberg's June Grosso reports officials have been in contact with Trump's attorney to coordinate his surrender for arraignment. Well, Nathan, this historic case will not be an easy one for the judge who's eventually assigned to it. We spoke with former federal prosecutor Michael Zelden. Well, it'll be a big issue for the judge to make sure that the jury's selection process is fair to the defendant and fair to the prosecution, and I expect that'll take

a long time. Michael Zelden is a former federal prosecutor and served as special counselor to Robert Muller at the Justice Department. Zelden points out that Shrump's announced run for president could complicate proceedings in this case. Now, of course, Karen, this case isn't the only potential legal woe for Donald Trump Bloomberg. Steve Rappaport joins US Live in New York with the details on that, Steve, that's right, Nathan and Karen.

The numerous legal actions pending against the former president include criminal investigations by a prosecutor in Georgia and the Justice Partment regarding efforts to overturn the twenty twenty election. DJ is also probing whether Trump broke the law by storing

classified records at his Moralago home. On the civil side, there's a defamation charge from a woman who claims Trump raped her, the New York Attorney generals suing Trump and his company, and lawsuits from Capitol police officers injured in the January sixth riot. Live in New York. I'm Steve Rappaport Bloomberg Daybreak. It's thirty nine degrees in New York. It's going to turn cloudy today, Showers developing by late afternoon on a way in your fifty five. Temperatures will

rise overnight as showers continue. Take a look at some of the other stories making news in New York and around the world. For that, we're joined by Bloomberg's Michael bar Good morning, Michael, Good morning, Nathan. The fallout continues from Russia's detainment of an American journalist. Secretary of State Anthony B. Lincoln is confirming his office is in touch with The Wall Street Journal, where American journalist Evan Gerskovich

is employed. Russian authorities detained Gerskovich, accusing him of spying. Why How's Press Secretary Kerin Jean Pierre all the espionage charges ridiculous. We condemned the detention of mister Gerskovich in the strongest in the strongest terms. We also condemned the Russian government's continued targeting and repression of journalists. State Department officials are now urging US citizens residing or traveling in

Russia to depart immediately, citing numerous safety risks. Authorities are looking for the people responsible for more than forty druggings linked to robberies around Manhattan clubs. Seven of the druggings, dating back to September or twenty twenty one, were fatal. Prosecutors believe at least six people are connected. So far, no one has been arrested for the crimes, including second

degree murder. Angry over the deadly schools shooting in Nashville, hundreds of protesters packed into the Tennessee capital to demand action from lawmakers. The demonstrators demanded new gun safety legislation, including red flag laws and background checks. People are heartbroken and angry. The sense of powerlessness is really really strong because our legislature generally tries to ignore the stuff, so we had to get in our faces. Six people, including

three children, were killed in Monday's mass shooting. Officials vowed to ramp up defense against cyber threats toward the United States at the Advancing Technology summoned in Washington, Homeland Security Secretary Alejandro Majorcas says, we know we must do more to protect vulnerable groups. We will extend our ongoing cybersecurity work to communities at heightened risk of targeting by sophisticated

cyber threat actors. Secretary Mayorcus and other officials say digital repression and manipulation are means for authoritarian governments to manipulate the information and their citizens. Absorbed Global News twenty four hours a day, powered by more than twenty seven hundred journalists and analysts and over one hundred twenty countries. I'm Michael bar This is Bloomberg, Nathan. Thank you, Michael. Time now for Bloomberg Sports Update on the morning after predecent

opening Day. John stash Hour, Nathan, It's something that happened sixty two times last year, and it happened again. Pitches swing on and hit and are to center field in d macgoes just Strumpet on the track at the wall. She is done. Unbelievable. Aaron Judge in his first at batt of the year. It's a home run to dead center. Dude is a judge and blood that's of course. John stirleing w Fan judgees first swing of the season, Glabor Torres later a patented Yankee Stadium right field homer. Game

of the man on. Yanks won the opener five to nothing over the Giants, a game where both teams struck out sixteen times. Garrett Cole fanned eleven and six innings, most ever by a Yankee and an opener. Ron Marinaccio pitched the last two. Anthony Volpe called it the most fun day of his only twenty one year old life, as the new Yankee shortstop made his big league debut. Mets in Miami led three nothing sixth inning Mexers Or

was cruising. The Marlins tied the game of the Mets got a two run double in the seventh from Grand Nimo and won five to three. Shots Or the winner, and David Robertson got the save. He's now the closer with the season long injury to Edwin Diaz and another Met injury not nearly as serious, but Justin Verlander begins the season on the injured list muscles strained near his shoulder.

Verlander said if this was the postseason, he would pitch Julius Randall as the sprained ankle won't play the last five games of the next regular season, starting tonight in Cleveland, with almost certainly a playoff preview, as was the game last night in Newark, Devil's two goals in the first period and up for a two one win over the Rangers, who just gave twenty three year old Philipedal four year

contract extension. John Stashedward Bloomberg Sports Live from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on Sirius XAM, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. The twenty twenty four presidential race is now moving into uncharted territory. For the first time, a former US president,

Donald Trump is facing a criminal indictment. Of course, Trump is the first president to be impeached twice, and now this legal issue comes as the former president is seeking reelection in a campaign already driven by grievance and shadowed by multiple legal challenges. For more on where this goes from here and the impact on the campaigns, where you are joined by a couple top Washington analysts, Terry Haynes the founder of Pangaea Policy and Greg Valier, chief US

policy strategist at AGF Investments. Gentlemen, it's good to speak with you both. I'll start with you, Terry, to get your reaction to this indictment and what it means for the presidential race. Good morning, Nathan. Three points at the top. First, I think this is sad for the country, which deserves a lot better than endless bread and circuses. But both Trump is providing and in this case, legal profession is providing. You can't have bread and circass without but without bakers

and cooks, so let's not forget that. Secondly, sad for the legal profession. I mean what you've got here is I think politicized justice with a fairly weak case. That's not good for the how the legal profession is viewed in the country. Finally, I'll say it's non consensus on the politics. I think the conventional wisdom is that the strengthens Trump in primaries makes it weaker with Biden and

all the rest. I think it's likelier to cause more Trump fatigue, and since Trump fatigue is a key part of the Santus's pitch, I think it's likelier to help the Santus. Finally, it's you know, the country sees straight through this as politicized. Sixty percent is politically motivated in sixty seven percent think Trump's payment was a personal expense. So yeah, this may play well in Manhattan, it doesn't play well in the country, and it's not good for

the country. Greg, is that how you see it as well? Is that possible that we could see Trump weekend by this indictment In the longer term, Well, good morning. I'm struck by how much we don't know yet. We don't know what's in the sealed document. Is it's just hush money? Is it obstruction of justice? So there's a lot more to come out, And I'd say the big takeaway from me is that this is just the ordure. This is

just the beginning of these cases. There's a very strong case, I think in Georgia of Trump trying to obstruct and deny the election result there. I think there's obviously a case involved with January sixth, what did Trump do? And finally, I think that the whole issue of the top secret documents that wound up in Marlago who could lead to an indictment as well. So this is just the beginning.

There's a long process to go. Yeah. I do want to get to more on those cases as well, but we've already gotten a reaction as statement from the former president when it comes to this looming indictment. He's calling it political persecution and election interference at the highest level

in American history. That's part of a lengthy statement that he put out last night, and we talked about it earlier with Bloomberg Politics contributor Jeanie she and Zano about how former President Trump might try to capitalize on this

particular indictment. Here's what Genie had to say. He is going to use it, he says, to make the case that he is the victim of political persecution, the victim of election interference, that this has been a plan by Democrats, and he uses these sort of tropes that he talks about in these statements about Alvin Bragg, the Manhattan DIA and others that are xenophobic and racist. He's used them and tried to use them to his advantage. And of course, his numbers, by the way, in the last month have

double digit gone up. Yeah, until your point, Terry, you are saying that this is sort of a non consensus view that this weekends Trump longer term. But what about that? I mean, he has in the past been able to galvanize his base, particularly when he's been able to sort of grab onto these grievance issues and use them to

his advantage. Now that's absolutely so. You know, people forget in twenty sixteen that Trump had a kind of a nugget of a base of about thirty or forty percent, and then you know, and ended up being coming the nominee in part because there were so many other nominees carving up the sixty to seventy percent majority. So that's

that's certainly still possible. My only comment is that twenty sixteen in twenty twenty four, two very different situations here, and there's always going to be a nugget of support for Trump. The bigger question doesn't have much to do with these prosecutions, and you know, and you know, the prosecution frankly validates the Trump's point of view. So I think, unfortunately,

so there we are. But you know, twenty twenty four, there's there's a rising there's also a rising feeling in the party number one, and there's a rising feeling among the swing voters that tend to determine presidential elections, that there's a very substantial case of enough is enough, you know, regardless. You know, we've seen the act before, we've been living it for the past eight or nine years, and enough already.

And my view is very simply that everybody focuses on the Trump base and they're not thinking enough about the enough already folks, which are much more numerous. Really curious to hear what you think, Greg about the idea of enough already voters being out there. It seems like views on the former president have pretty much calcified for a lot of people. Well, are there many swing voters left when it comes to former President Trump? I think there was some that can be moved. Nathan, Just to follow

up on what Terry said, enough is enough? I wonder what Mitch McConnell is thinking this morning. I mean, he was looking at an election that would revolve around issues that would help the Republicans, the uncertainty over the economy,

crime problems at the border, with the illegal immigration. The Republicans have a long list of issues that I think are quite potent, but they're going to get bogged down once again on Donald Trump, And there was a Pavlovian reaction yesterday from Kevin McCarthy and all the Republicans rushing to Trump's defense after the second or third indictment. With these other cases that loom, I think a lot of Republicans may have to regret all of the wonderful things

they said about Donald Trump last night. The reason interesting point there, and I think back to after the second impeachment when Senator McConnell came to the Senate floor to explain his vote to acquit the now former president, saying that he could face potential prosecution over some of these issues as a private citizen. Terry, what about some of these other cases that are coming over the president? Now?

We are getting closer to a twenty twenty four race where it might get more difficult to pursue some of these pretty heavy cases against the former president, couldn't it? Yeah? Absolutely, you know, and those cases are not without peril for Democrats as well. You have, in addition to the New York case, you've got this Georgia election case where the law may be stronger, but I think I think the facts are relatively weak, and you know, that'll take some

time time to get moving. And finally you have the whole Marilago documents issue, and that looked that looked one way in October and looked another way in November after we find after we found out that President Biden had

a generally similar issue withholding documents. And you can you can slice and dice the differences between those all day, but in the end, what you're going to have as a Justice Department saying, look, we have to be real short, it has to be you know, real big, and you know, I think they'll faff around with that for quite a bit and then figure out that they might not want to pursue that, not only because the law isn't there.

Excuse me, the law and the facts aren't there, that because it will also make the Justice Department itself look very politicized. So you know, I think we've got in the end with these prosecutions. As much as anti Trump people are salivating this morning, I think we've got a lot more sizzled than stake. We're speaking with Terry Haynes, the founder of Pangaea Policy by phone, joining us on Bloomberg Daybreak, and Greg Valier, at Chief US policy strategist

for AGF investments with us via zoom. Greg, I want to ask you about how this could potentially affect policy making in Washington. We have gotten a lot of reaction, as we would come to expect from lawmakers on Capitol Hill in terms of the politics of this case against former President Trump. But as you mentioned, we have a debt ceiling fight to come, we have fights over spending to come, and a very divided government, very different points

of view between Republicans and President Biden. When you have former president facing a criminal prosecution, does that put some of those policy issues, things that need to get done in Washington on hold. Well, I'm not sure we could get any more polarized than we already are. So I don't know that this makes, for example, getting a death ceiling deal easier or tougher, because that's still going to dominate.

Let me make this point, Nathan, for the markets, and we talk to a lot of people, all three of us in the markets. I think for the markets, this is not a big deal. Futures are up this morning. The big story for the markets today is not Donald Trump. It's that we get the Personal Consumption Expenditure Rounder and we get to see what the inflation data is the FED pays a lot of attention to that number. So in many respects, the markets will just go on looking

at economic data, looking at earnings. This story will not have a big impact. However, You've got to say from a political standpoint, it does complicate things here in Washington. Yeah. Absolutely, And Terry, what do you think can government walk and chew gum at the same time when it comes to dealing with the politics of a prosecution against the former president and getting policy done in Washington? The reaction from Republicans will be that it's more important than ever to

walk in chew gum at the same time. Uh. You know, they had they had a good week politically with the with the energy bill for example. They had a good week both Democrats and Republicans on the banking scandal hearings, which I think actually marginally helped markets in a lot of different ways by showing people that drawing lines under the idea that this is not a systemic event. Uh. And they will want to continue to push on that, and they will want to continue to carve out identity. Frankly,

that is that's very distinct from Trump. You know, the people on Washington, people in New York. The national types, Uh, always think about election through a national prison, when in fact, you know, these people represent states and districts, and it's important to them to have a record for their state district to talk about and to go back on. They got elected on something they've been pushing up to depth on today, saying that they want to accomplish certain things.

They'll build double down and want to accomplish those even more. They do not want to have their political fates tied to Trump one way or the other. Greg, How does this affect President Biden's political fate. We're still waiting for him to make the formal announcement that he's running for reelection. You have to imagine that the White House is going to face questions about the former president's indictment. How does President Biden deal with this? It's a really good question.

I think that he will stay fairly subdued on this, You won't pile on. I think that, yeah, he probably feels that he has to run for a second term because there's no logical sussessor in the Democratic Party and that he's got to run. So I think that Biden will wait as long as possible before announcing he will focus on issues. But my sense is that they're not going to go after Trump super aggressively. What's the all saying? If your enemy is self destructing, you know, there's no

need to pile on right now? Do you agree with that, Terry? And what as well? What does this mean for potential Republican contenders against former President Trump? Are waiting for a number of them to make their announcements as well. Sure, I think I think Grigg's right that the White House itself remains subdued. But you know, they democrats, generally national democrats,

think they're getting the scenario they want. Remember the great uh you know, remember there was a great Ala Obrook line and all the presidents meant and I'm not drawing water date comparisons here, but you know, like you know, they wanted against you know, they wanted to run against

me governed. Look, or they're running against you know, like they want to run against Trump, look or they're running against and uh, and you're in a situation where, uh, you know, they want the situation where you know, as Biden's talking points are always maga Republicans, Maga Republicans, they want the situation where they can say for the next two years it's me or or it's me or or you know, bad Orange Man, and uh, you know they

think today they're getting that. This is frankly one reason why I point out that the alternative, the DeSantis business, where Trump fatigue kicks in, I think is actually the more likely scenario. Yeah Terry Hayes, the founder of Yeah Greg Real quickly, real quick point. If Trump is weakened and DeSantis hasn't done that well lately, there is still another avenue for one more candidate. I think that other

candidate is going to be blend yuncan. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts.

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