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  • 00:00From the world of politics to the world of business this is balance of power with David Westin. From Bloomberg World Headquarters in New York to our television and radio audiences worldwide. Welcome to Balance of Power. It is an historic day in the United States of America. The Supreme Court did what many thought might be unthinkable which is they overturned over 50 years of precedent in Roe vs. Wade as well as Casey. This morning with far reaching implications certainly for individual rights but also potentially for the economy and for business as well. To start off with opinion itself we turn now to our Supreme Court reporter. He is of course Greg Store in Washington. So Greg take us through exactly what happened here. Well what happened was basically the draft leaked opinion that we saw a month and a half ago. Justice Sam Alito for the court for five justices said that Roe vs. Wade was egregiously wrong was not based in the country's history or traditions. And he they voted to overturn that ruling. Chief Justice John Roberts joined the court in upholding the law before them a 15 week fan in Mississippi. But he said he would have taken that last step. So as you know so well Greg for your vast experience the Supreme Court typically these major decisions are not the last word in it. It actually often foments more litigation. What's the next question coming up. Is there any anticipation with the next challenge. Will be there will be all manner of next questions. The court gave us some clues about some of them. So for starters what does this mean for other rights. Justice Alito said it doesn't mean anything. It doesn't affect same sex marriage. It doesn't affect contraceptive rights. He said abortion is different because we're talking about a potential fetal life here. The dissenters are very skeptical that they are worried about where the court will go next. There are also some abortion related questions that we'll see. One of those is CAC State Bar somebody from traveling to another state to have an abortion. There have been proposals to do that. Justice Cabinet on what could be a key concurring opinion said that in his view a state cannot do that and that might be enough to doom those sorts of laws. But there will certainly be many many other questions that come along. OK well we're coming back to you on each and every one of them. Thank you so much Drugstore. He is Bloomberg Supreme Court reporter. Now to get a sense of what's going on actually at the Supreme Court itself. We turn to our Bloomberg Washington correspondent Joe Matthew. He's the host of course of sound on weekdays on Bloomberg Radio. Joe thank you so much. You're up at the Supreme Court. Give us a sense of what's going on up there. It's been quite a rambunctious scene here. David it started before in fact the ruling was even announced. Several hundred people had gathered outside activists on both sides of this issue. And the crowd has been building ever since. We've been here now for some time. And it looks like a couple of thousand people in fact are gathered in front of the Supreme Court. And as you might remember they erected a large barrier around the Supreme Court much like we saw around the Capitol following January 6th. As soon as that opinion draft was leaked the barriers remain. But the police presence here is significant. Capital police D.C. police and other agencies have even been bussed in here in some cases in terms of the U.S. Capitol Police to try to keep things under control. And so far they have been. But the people David behind me who have gathered in front of this court today represent the front lines of this issue pro-life and pro-choice. We've heard a lot of yelling. We haven't seen any shoving. We haven't seen any fighting break out but a lot of signs and a lot of passion here today. Joe I don't want to extrapolate too much from this but perhaps just for a moment you make a very important point. It's not just demonstrating on one side and that's something we've seen pretty much since Roe versus Wade was first decided. It was a divisive issue. Then a reminder it remains a very divisive issue today although a majority American may be in favor of permitting some form of abortion. It's a substantial plurality who are against it. That's absolutely right. And they are represented here today as well. You might be seeing and hearing a bit more at the moment from pro-choice activists who have been streaming in here from all directions. David right in front of me as the U.S. Capitol the Supreme Court behind me. And there have been bike racks set up all around this area to try to control crowds. So they're streaming in through some very narrow areas. But we've seen everything from celebration to tears on both sides today as people kind of exercise their emotions and sort of bring the passion here. The question is what's the president going to say a little bit later knowing that we heard earlier today that Gallup shows confidence in the U.S. Supreme Court among Americans has fallen to a more than 50 year low. David. Yeah Joe makes such an important point. We do expect to hear from the president of states Joe Biden about twelve thirty Eastern Time. But before that we're supposed to hear from Kevin McCarthy. He's the House minority leader. We'll bring you both of those as they occur. Joe thank you so much. That's Bloomberg's Joe Matthew once again host of Sound On. You can listen to him tonight at 5:00 p.m. Eastern Time on Bloomberg Radio. And now I want to turn to some of the politics of all this. And for that we turn to our political contributors. It's Rick Davis in St. Claude Capital. And Jeannie Shan Zeno of Iona College Virginia. I'll start with you as I said in the open. There was a time that we thought it was the unthinkable this would happen. Well that has happened. It has. And you know even though we had the draft opinion and most people thought this was coming down the pike I have to say myself working through this decision. It is a bit eerie to see it now in black and white. And I am still working through the decision. But you know one of the things that's very striking as you look at for instance Clarence Thomas's concurrence in this he does raise questions about some of these issues that Greg was talking about same sex marriage contraception and the like. He says we weren't asked to decide those today. But you know if we were we'd have to revisit that now. They don't have the votes at this point for that. But that is the concern you're hearing particularly on the left that this is something of a slippery slope. It was this right today and in the future with this conservative court something else could fall. And I think we're going to hear more of that as we move into the midterm and the 2014 election and reckless pick up on that. If we look at the more right of center part of the country if I can put it that way are they going to say we should be careful about going further. Or in fact is this just going to be a bit in their teeth as a practical matter in some of these particular state legislatures they're going to let Republicans. Well these state legislators as you mentioned have been legislating on these things for quite some time. Right there. They're passing trigger laws in advance of a decision like this around Roe. They're putting limitations on abortion access all the time. They are they are litigating cultural war issues like gay marriage and other issues all the time. So this is actually the normal course. What this does is give them a shot in the arm that they can actually legislate in these areas and actually know that they're not going to be found unconstitutional when it gets to the Supreme Court. Rick not to put too fine a point on it. Does this mean anything for the midterms you think. Sure. I think that that is all about intensity. You know who's going to show up on in November of 2022. And I think that there could be an argument either way. Right. I mean this is a huge plus for the pro-life Republican supporters out there. They're going to want to do a victory lap. They're going to want their people in powerful positions so that nothing can get done in Congress to overturn this. And of course it's going to electrify the the the pro-life pro-choice community because now they have had something taken away. Right now they're on defense and they're going to be angry and they're going to want to do something about it. And this ballot box is really the only thing they can do about it within the next six months. OK. Thank you so much. We're going to going back to Janice Manzano and Rick Davis throughout this two hour special coverage of the overturning of Roe vs. Wade. Coming up here to talk about today's Supreme Court decision with former head of Planned Parenthood Gloria Feldt. This is balance of power on Bloomberg television and on radio. This is balance of power on Bloomberg television and radio. I'm David Westin we are having two hours of special coverage on balance power today of that overturning of Roe vs. Wade. And we should be hearing from the House minority leader shortly. He is Kevin McCarthy of California. We'll bring you that when that happens. In the meantime we're going to turn to Gloria Feldt. She's the former CEO of Planned Parenthood and the current president of Take the Lead a nonprofit dedicated to achieving gender equity. So thank you so much Gloria for being with us. Give us a sense of what you think the practical effects will be for women and even more broadly for the workforce of this decision. Thank you David. Thank you for having me. The balance of power the name of this program is exactly the correct framing for this issue because this decision is not about abortion. It is about power and patriarchal control over women especially having a negative impact on poor women who can't travel to other states or other countries. And people of color for whom these consequences will fall most harshly. There is no doubt of that because we've seen that before. Some of us remembers some of us remember before. And so the next steps have to be that literally we start over again creating a new jurisprudence a new legislative basis for women's civil and human rights to make their own childbearing decisions. You I think mentioned that there there there is conversation in the opinion which I haven't read fully yet but I have been saying for years that if abortion is overturned then so is the right to contraception. So our LGBTQ rights including marriage equality and many other rights of that are not explicitly named in the constitution but that have been affirmed by prior courts. And so what we need to understand is that all civil rights are under threat. So it's not just women who will suffer. It is women their families. And also it is an economic issue as well. You know there is not a woman who is in a an executive position right now who could have been there a hundred years ago both because of law but also because there was no way for women to reliably be able to plan and space their childbearing. Well now there is and and it is huge. It will have huge implications economic implications for families and for companies. Gloria take us back through history if you would a bit. Not that you were there for it. I'm old enough to be. You're not. But one thing that strikes me is it's 50 years now since Roe vs. Wade. And yet the company the country did not come together behind that decision. Unlike for single Brown vs. Board of Education 50 years after Brown vs. Board of Education ever it was pretty agreed it was the right decision. That didn't happen here. Why was that. It still seems to be just as divisive as it was on day one. I have been here for quite a bit of it David and but I will go back even further to 1873 when the first laws were passed outlawing contraception. The Comstock laws. It took one hundred years from that time till 1973 when Roe was was decided by the United States Supreme Court. So it has been a long trajectory. And the reason it has taken so long. And the reason there has been such pushback against it is precisely because the move toward gender equality is because it affects every single one of us. It is the most it is the most radical as it were. Movement for social justice in the country and really on the face of the earth. And for women to become first class citizens not second class citizens. The first thing you have to be able to do is to determine whether when and with whom to have children to have authority over your own bodies. So that's what that's why I said at the beginning understand this issue is not about abortion per say. It is about power and who will wield it how they will wield it and over whom and good. Taking your notion of sort of a battle a tug of war over gender equity in this country. What are the things the Supreme Court did today I dare say was move it more in the political branches away from the courts. What possible actions could be taken about the political branches to try to address some of the downsides you identify. We don't know yet what this particular court would do if there were federal legislation but that's the first thing that needs to happen. And when I was president of Planned Parenthood Federation of America we read we wrote a piece of legislation that essentially codifies not just Roe but codifies the right to make our own childbearing decisions. And that's the language of it without government interference as a human right as a civil right not not just as a gender issue but literally as a civil and human rights issue. So that is the first thing that needs to happen. Not not merely protecting clinics not merely protecting women. Those are very important things to do. But we need to have a core conversation in this country about is a woman a citizen. Did Abigail Adams you may recall asked her husband John when he was writing the Constitution to remember the ladies. And he didn't. He made fun of her and I. And we're still suffering from that. Even now we have not. America has not come to grips ever. It's making women full and equal citizens. And that's where we have to go. That is why I say you know the fact that Roe was cleanly overturned might end up giving us that opportunity to have that important conversation and to build an entirely new jurisprudence of reproductive rights. It's a really terrific perspective to have. Thank you for sharing with us. Gloria Feldt former head of Planned Parenthood. Coming up more on the Supreme Court's decision. We're gonna speak with Minnesota Senator Tina Smith. That's next. This is balance of power on Bloomberg television and radio. This is balance of power on Bloomberg television or radio. I'm David Westin we have two hours of special coverage of this decision from the Supreme Court today overturning Roe against Wade as well as Casey against Planned Parenthood. And to continue that coverage we turn now to Senator Tina Smith. She's Democrat of Minnesota. Senator thank you so much for being with us. To some extent what the Supreme Court did today was say you know what the courts aren't going to have the rules here. We're going to have more of the political entities do it both state and federal. Give us a sense of what is doable political in response to this decision. Well I think what the court said was very dramatically that 50 years of precedent in the United States Supreme Court don't matter. And that actually we don't believe that the right to abortion the freedom to make decisions about your own life in this way is guaranteed by the Constitution. And as you say then what that means is that pushes it back to state legislatures all across the country. I can't think of another example where the court has said this fundamental freedom is going to be determined based on where you live in this country which is now the reality that American women are going to be facing. And of course across the country that there are trigger laws in place. But that means is a law that says as soon as Roe vs. Wade is overturned which it has been as of today the right to abortion is gone in this state. I think about 26 states people's right to access to abortion care will be either dramatically reduced or gone altogether. So this is going to create a crisis for women all across the country. And it will also create a crisis then for four states where abortion will still be legal as folks try to figure out how to get access to the care that they need. They have control over their own lives. So what the Congress first where you serve up there there are people now calling for federal legislation to reinstate the protections of Roe versus Wade. Let's be honest. Might be something you would like. But is there any realistic prospect of that. No there isn't. In the United States Senate as you know it where you have to have 60 not 51 but 60 people to go along with any piece of legislation that passes. And we don't have 60 people in the in the Senate. It's also important to know that the Republican Party and the leader of the Republican Party in the Senate has said that he believes that the idea of a national ban on abortion would be on the table if Republicans were in control of the Senate. So so you're right. The debate over abortion and who gets to decide will continue in in Congress even as it gets played out in hundreds of different ways in state legislatures around the country. When you talk about a possible ban on abortion and we did hear I think was Mitch McConnell talked about it wasn't it as a practical matter. Does the filibuster work rule that has really defeated some efforts for the Democrats turn around the other way assuming in fact they get a majority but it's not enough to beat the filibuster. Well I think that that's true under the rules of the Senate as they stand right now. There would not be depending on who's in the Senate and all of the ins and outs of our process. You know I think that that's true but I think it's really important for people to understand this is a fundamental difference between the two parties in our country. And I think that there's just no doubt that my party is much more aligned with where Americans are. Americans believe that it should be people and not government. Who decides. Senator Smith it's so wonderful to have you with us. Thank you so much. Tina Smith from Minnesota. We're going to go now to Capitol Hill where the minority leader Kevin McCarthy is speaking. The people have won a victory. The right to life has been vindicated. The voiceless will finally have a voice. This great nation can now live up to its core principle that all are created equal not born equal created equal. Americans celebrate this historic victory because we know it will save the lives of millions of children and it will give families hope. But as encouraging as today's decision is our work is far from done. Americans remain one of only seven countries on Earth that allow elective abortions in the third trimester. Of those seven countries that Americans one of them. There's two others China North Korea that is radical. The House Democrats continue to support it against the wishes of the American people. This Congress every House Democrat has voted for extreme policies like taxpayer funded abortion on demand until the point of birth. But Democrats radical agenda does not have America's support. To the contrary America rejects it because they remain committed to our values and our principles. The Supreme Court was not bullied by the far left mob. Threats of violence against the justices did not win. And the truth is pro-life Americans are not planning a night of rage through your act. The reaction to this principle decision by the court. It must be peaceful. And the DOJ must step up to protect our justices their families churches and pro-life pregnancy centers from unprovoked violence. To the DOJ do not be silent. Do not stand back. And uphold the rule of law. We live in a country that is based on the dignity of all human life. With that we'll take some questions. Yes. Justice Thomas is part of this ruling said that he wants to revisit things like the Supreme Court's decision on gay marriage and contraception. What he was saying that the same Supreme Court is a different branch of government. They can look at whatever comes before them. I just knowing what we are doing and what we have today is that life matters. Would you have for so many years life stood up here. Would you all support the decisions being revisited. Supreme Court is a separate branch of government. They take their positions. If you were speaker and House Republicans win the majority what are some of the abortion bills that you would put on the floor. First and foremost I believe in saving every life possible. Look at what we have done. Hyde Amendment. But more importantly look at what the Democrats have done for decades. That was a bipartisan position. Why does this new radical agenda when the Democrats took the House the Senate and the White House even the President Biden who had supported that removed that. Look at Ann Wagner's. And when you look at what we can do we will continue to look wherever we can go to save as many lives as I can. Yeah. Peter you touched on this a little bit. Current laws are still in place right now where the attorney general was just not doing anything about playing politics. What would you want to tell. I would tell him in less than 140 days things are gonna change here. And he will have now a Congress that will call him up. He will now have the ability of Congress to have oversight. He will now have a Congress that will hold him accountable. Thank you all. And most importantly to America I've continued to pray one for the safety of everyone. But more importantly we now have a voice for all life. Thank you and God bless. And that was Minority Leader House Minority Leader Kevin McCarthy Republican of California at a news conference attended by quite a few other members of his leadership there on House Representatives applauding the decision. The Supreme Court earlier today to overturn Roe against Wade and Casey versus Planned Parenthood's referring to what the Democrats had done for many years as what he called a radical agenda. That now is going to returned and also warning the attorney general to make sure that they protected against possible violence and demonstrations against what has been done. Saying that in 140 days that there is going to a new sheriff in town. At least they're going to have. He thinks a majority in the House. And they will hold Merrick Garland to account for a summary now of where we are. We turn now to our Washington correspondent Joe Matthew. He is of course the host of Sound on every day this week at 5:00 p.m. Eastern Time. He's up at the Supreme Court United States. So what is the agenda of the Republicans now. Do they want more legislation on abortion. Is that what we're hearing from Mr. McCarthy. We didn't get much of an answer on that at least not in terms of specifics there David. But interesting he did talk about the effort to save every life possible and condemned the Democrats for what he called their support for abortion on demand. There could well be continued legislation that comes from what would be a Republican led House assuming they take the majority. Our own Greg store the Bloomberg Supreme Court reporter in fact was talking about the possibility of legislation that might control women's ability to travel outside of states that ban abortion to those that have legalized it. One of the things he pointed out interestingly David he said pro-life activists are not predicting a night of rage. That's not something that's gotten a lot of coverage but it's been getting a lot of talk here in the nation's capital with activists promising what they've called a night of rage or a purge. If in fact this ruling came down as it did White House Press Secretary Careen John Kerry was asked about that just in the last week or so. And the White House condemned any action of violence or vandalism that might follow this ruling. It's something David that law enforcement are keenly aware of as we head into the evening hours here later today in Washington. And Kevin because he specifically called out the need to make sure we protect the justices themselves as we have had some threats against them. So even though one individual who got fairly close to one justice's house at the same time I was struck by the fact that Mr. McCarthy was asked specifically about things like same sex marriage and contraception and he would not touch it with a ten foot pole. He's a legal firm phrase. Yes that's very true and that's been consistent since the draft first link that has been a refrain that we've heard from Speaker Nancy Pelosi saying this is just the beginning. This is the opening stage in what could be a much wider crackdown on liberties as they've pointed to same sex marriage to your point among others. But Kevin McCarthy has been very careful about this. This is a very delicate issue that's going to resonate on the campaign trail no matter what lawmakers say. And they want to try to channel that energy to their benefit the best they can. OK. Thank you so much once again to our very own Joe Matthew. He's always a sound on every day that we could. 5:00 p.m. Eastern you're going to want to hear that on Bloomberg Radio. But for that we'll have Joe back on here. Now let's turn back to our Bloomberg political contributors Rick Davis and Jeannie Manzano. So Jeannie I didn't get a chance to ask you actually what Joe was just talking about. Is this going to make a difference on the campaign trail come the midterms Judy. You know I think it will. I don't think that something like the import that people place on the economy and inflation is going to be superseded by this. But I do think if this turns out to be a base election as many midterms are this could play a role. But I think the role I would watch for is particularly at the state level. You know in your home state of Michigan for instance in states like Pennsylvania we are looking at gubernatorial races in which an abortion decision like this can play big potentially in those kinds of state and local races. So I would look at their first because to your previous guest point there's not a lot that the U.S. Congress is going to be able to do at this point to affect this decision. But there is a lot that can be done at the state level. So I think this is where the battle is going to play out as it pertains to the midterms. So Rick what's the danger of the Republicans overplaying their hand. You know look I mean I think you look at some of the numbers and you know the vast majority of the United States voters 60 percent plus did not want to see Roe overturned. But then when you drill down and you start talking about things like what Kevin McCarthy was just talking about which is support for third trimester abortion all that vanishes. So you're seeing a polarization right now in people's rhetoric. Democrats want to make this about not just abortion but every other civil a pretty that's been adjudicated by the court in the last 20 years. And Republicans want to make it all about the worst case scenario within an abortion and not even talk about that stuff. So so Republicans have the potential being drawn into a larger culture war. They're pretty experienced at this kind of stuff. And the last thing I want to do is play off of the field play that the Democrats paint. And Rick what about the question of things like same sex marriage and and contraception. Is that a bridge too far for Republicans or might some Republicans want to take down as well. Well I think that there's a short term and a long term point of view on the short term. No one's gonna want to talk about that stuff between now and November. On the Republican side because they think they've already got those voters and there's nothing they can actually tangibly do about it right now. And it would just potentially exacerbate the opposition that that is already going to be ginned up by the ROE decision. So that's why you see Kevin McCarthy ducking for cover when asked that question. Long term I think you start looking at the demographics of this country who's voting. And I think you're going to see there's not a lot of popular support to overturn these these popular issues. To these these issues came in with a wave of young voters that's only increased the millennial voters over 90 million of them. Look at these issues in a pretty enlightened light. So I think that that is a dangerous path to play because there is no actual legislative potential there. There aren't anywhere near the votes in the Senate to to make significant changes. So they're going to wait and see what the court does with those things. Jeannie thinking again about the midterm elections and then perhaps even your favorites every 20 24. What about the so-called suburban women. You know that's going to be critical because you know if you think about 2018 for instance a very different time. But Democrats did very well in the midterm election in part because they ran on health care and they were able to attract suburban women in particular. And there's a lot of talk in Democratic circles. Abortion is obviously a issue of health and it's an issue of concern that Democrats can use in this election. Now of course it's a very different time. It's a very bad year for Democrats and they do have the White House. But if there was anything that could turn the page for Democrats short of bringing down inflation and fixing the economy it would be a decision like this. So I do think we're going to hear a lot about it. And I would just say and I'm sorry if I'm reading here David. I think we're going to hear a lot from Judge Thomas's concurrence on this. He says and I quote In future cases we should reconsider the court's substantive due process precedents including Griswold Lawrence and Overflow. Those are the decisions that the Democrats are going to want to talk a lot about because to Rick's point while Republicans are going to want to avoid it Democrats want to say this is a slippery slope. Contraception same sex marriage the right to do what you want in your own bedroom. Those things are next. And I think we're going to hear awful lot about that in the coming months. So Rick we're going to hear a lot about it at the same time. I really wonder. I've read some things. You would know it far better than I do. Some talk that perhaps the Democrats have taken for granted some of the people of color particularly the Latino community. And I wonder how Latino committee is likely to respond to this because there is some with the Latino community or more conservative small C conservative from social values point of view. That's right. I had the benefit of working with John McCain for 25 years and he was one of the top vote getters within the Latino community both nationally and in the Arizona population. And the reality is Latinos have conservative values. They they they they. Brian Large in the state of Arizona for instance are Catholics say they they they they would be a pro-life community in in this context. And so Democrats have to tread lightly. I mean we've polarized R R R politics on this to the point where there are no pro choice Republicans anymore. And there used to be a bunch and there are no pro-life Democrats anymore. And there used to be a lot. So. So these parties have taken on the Pantene of this issue much of their detriment frankly. And and so I do think certainly in the Hispanic community and in those communities of faith that overlap minority communities are going to be looking that's going where they go in with us. OK. Thank you so much for Bloomberg considers Jihye Lee Zeno and Rick Davis who will be back with us later during this federal two hour broadcast. Coming up more on the Supreme Court's decision. We're going to speak with Radko Rao. She's UC Hastings professor of constitutional law and former clerk to Justice Blackman as well as Justice Marshall. This is balance of power on Bloomberg television and on radio. We're going straight to the White House. We're going to join him praise President Biden who is decrying the decision the Supreme Court today. National consensus and most Americans of faith and backgrounds found acceptable. That had been the law of the land for most in the lifetime of Americans today. And it was a constitutional principle upheld by justices appointed by Democrat and Republican presidents alike. Roe v. Wade was a 7 to 2 decision written by justice appointed by a Republican president Richard Nixon. In the five decades that followed Roe v. Wade justices appointed by Republican presidents from Eisenhower Nixon Reagan George W. Bush were among the justices who voted to uphold the principles set forth in Roe v. Wade. It was three justices named by one president Donald Trump were the core of today's decision to upend the scales of justice and eliminate a fundamental right for women in this country. Make no mistake this decision is a combination of a deliberate effort over decades to upset balance of our law. It's a realization of an extreme ideology and a tragic error by the Supreme Court in my view. The court has done what is never done before expressly take away a constitutional right that is so fundamental. So many Americans has already been recognized. The court's decision to do so will have real and immediate consequences. State laws banning abortion are automatically taking effect today. Jeopardizing the health of millions of women some without exceptions so extreme to the women can be punished for protecting her health. So extreme that women and girls are forced to bear their rapist's child. The child the consequence. It just it just stuns me. So extreme that doctors will be criminalized fulfilling their duty. Take care. Imagine having a young woman having a child carrying a child. Incest is a consequence of incest. No option. Too often the case. The poor women are going to be hit the hardest. It's cruel. In fact the court laid out state laws criminalizing abortion that go back to the eighteen hundreds as a rationale. The court literally taking America back 150 years. It's a sad day for the country in my view. But it doesn't mean the fights over. Let me be very clear and unambiguous. The only way we can secure a woman's right to choose. The balance that existed is for Congress to restore the protections of Roe v. Wade as federal law. No executive action from the president can do that. And if Congress. As it appears likes to vote two votes to do that now. Voters need to make their voices heard. This fall. Must elect more senators representatives who codify a woman's right to choose and the federal law. Once again. Elect more state leaders to protect this right at the local level. We need to restore the protections of Roe as law of the land. We need to elect officials who will do that. This fall Rowe is on the ballot. Personal freedoms are on the ballot. The right to privacy liberty equality. They're all on the ballot. Until then I will do all in my power to protect a woman's right. In states where they will face the consequences of today's decision. Of course decision cast a dark shadow over large swaths of the land. Many states in this country still recognize a woman's right to choose. So if a woman lives in a state that restricts abortion. The Supreme Court's decision does not prevent her from traveling from her home state to the state that allows it does not prevent a doctor in that state. And that's safe from trading her. As the attorney general has made clear women must be made free to travel safely to another state to seek care. They need. My administration will defend that bedrock right. Any state or local official high or low tries to interfere with a woman's exercising her basic right to travel. I would do everything in my power to fight that deeply un-American attack. My administration will also protect a woman's access to medications. That are approved by the Food and Drug Administration the FDA contraception which is essential for preventative health care. The depressed tone. Which FDA approved 20 years ago to safely and early pregnancies and it's commonly used to treat miscarriages. Some states are saying that they'll try to ban or severely restrict access to these medications. But extremist governors and state legislators are looking to block the male. Or search a person's medicine cabinet or control a woman's actions by tracking data on her app she uses are wrong in extreme and out of touch with the majority of Americans. The American Medical Association. The American College of Obstetricians and Gynecologists wrote to me and Vice President Harris stressing that these laws are not based on are not based on evidence and asking us to act to protect access to care. They say by limiting access to these medicines maternal mortality will climb in America. That's what they say. Today I'm directing the Department of Health and Human Services to take steps. Through these critical medications are available to the fullest extent possible. And the politicians can not interfere in the decisions that should be made between a woman and her doctor. My administration remain vigilant. As the implications of this decision play out. I've warned about how this decision risk the broader right to privacy for everyone. That's because Roe recognize the fundamental right to privacy. That is served as the basis for so many more rights that have come to take. We've come to take for granted that are ingrained in the fabric of this country. The right to make the best decisions for health. The right to use birth control a married couple the privacy their bedroom for God's sake. The right to marry the person you love. Justice Thomas said as much today he explicitly call to reconsider the right to marriage equality the right of couples to make their choices on contraception. This is extreme and dangerous path. The court is now taking us on. Make close to two points. I call on everyone no matter how deeply they care about this decision to keep all protest peaceful peaceful peaceful peaceful no intimidation. Violence is never acceptable. Threats and Tim and intimidation are not speech. We must stand against violence in any form. Regardless your rationale. Second I know. So many of us are frustrated and disillusioned. The court has taken something away that's so fundamental. I know so many women are now going to face incredibly difficult situations. I hear you. I support you. I stand with you. Consequences. And the consensus. Of the American people. Core principles of equality. Liberty dignity and the stability of the rule of law demand that Roe should not have been overturned. With this decision. The conservative majority of the Supreme Court shows how extreme it is how far removed they are from the majority of this country. It made the United States an outlier among developed nations in the world. But this decision must not be the final word. My administration has all of its appropriate lawful powers. Congress must act. With your vote you can act. You can have the final word. This is not over. Thank you very much. More to say this in weeks to come. Thanks to. And we have been listening to and watching President Joe Biden from the White House addressing that decision this morning through court overturning Roe vs. Wade as well as Casey versus Planned Parenthood. He said it was a tragic error by the Supreme Court and it says there was a sad day for the court and for the country as well. But he said it does not mean that the fight is over. He specifically called on Congress to adopt a federal statute with the protections Roe against Wade admitting that it is now constituted. The Congress would not do that but therefore he said the voters must speak and the midterm elections. He also said he would use all his powers with his executive branch to make sure the right to travel was protected and also the right to receive medication approved by the FDA and contraceptives. So he is certainly is very steamed up about it. But he also said very importantly any protests need to be peaceful. This is no occasion for intimidation or threats or violence of any sort. Responding in a sense to minority leader husband ringleader leader Kevin McCarthy his earlier remarks on that subject. We welcome now for more on this Tina Davis. She's Bloomberg News executive editor. So Tina I thought it was interesting. He specifically invoked Clarence Thomas Justice Clarence Thomas's concurring opinion about subs of due process something that I know you focused on as well. Yeah I mean look I think that's one of the more interesting outcomes of this approach and this ruling today. So when the draft opinion leaked last month there was a lot of there was a lot of talk about what it meant for other four other freedoms essentially for gay marriage as the president mentioned for contraceptives for potentially you know anti sodomy laws striking down those. And the Alito draft opinion said quite clearly this does not affect those other rights. This has its different because it has to do with human life. And therefore you know it doesn't necessarily mean we upend the precedent behind those decisions that have already been made. However Clarence Thomas issued as you said a concurring opinion in which he was alone and saying look we need to look at all of these things. And that is actually directions directly in the dissent from the from the liberal justices that were against this ruling. We had the three liberal justices. We also had Justice Kavanaugh joined by Chief Justice Roberts concurring in the judgment not in the opinion. And if Clarence Thomas wanted to go farther both the Justice Kavanaugh and the chief justice didn't want to go as far. Yeah I mean this is interesting. I painted because you get to see a little bit of how the court is shaking out. As we as we see these new justices coming into their own including Carvin on merit. And of course such a not so much. But you know the three justices essentially that were put on the court by Donald Trump. We get to see what role they're playing. I think what's interesting what's politically interesting to me is looking at the role that Roberts played Roberts was joined the liberal minority in voting against overturning Roe v. Wade. And that's something that's going to make him I think a target for a lot of conservatives who feel like he's not actually that conservative as they thought it was going to be when he took over. He was obviously not appointed by Trump but he was appointed by Bush prior. But he you know he was an interesting vote I think in that. This is someone who's tried to lead the court in a very old fashioned way. He's very much an institutionalist. And the court seems to not necessarily be following him. Exactly. We talk about conservatives or liberals. He's sort of for the institution and appears in through a lot of his decision making. Thank you so much. Tina it's great to have you with us. That's Tina Davis of Bloomberg. And now we want to turn to an authority on the court in our custody law. She's radical rouse. She's UC Hastings professor of constitutional law. And she clerked in the past for Justice Blackmun as well as Justice Marshall. So Professor thank you so much for being with us. Let's pick up on just exactly what Tina was talking about and that is Chief Justice Roberts and his position here joining in the judgment not in the opinion joining the opinion instead of capital. What does this decision do you think mean about the institution of the Supreme Court. I think this decision is very revealing and it's actually a I agree with Biden it's a dark day a dark day for the court and a dark day for the country and for all of the women across the country. We're going to be affected. What does this decision mean specifically in terms of Roberts opinion. He does say that he would have taken a more measured course and he would only uphold this law but not overturn Roe. He essentially wants to bide his time and to wait until it's necessary before overturning Roe. But he's not really saying that he thinks that you know that that there is a constitutional right to an abortion only that the court should issue in more narrow ruling at this point. So Professor I'm curious both of you as a scholar of the Supreme Court. I ask you this. Roe vs. Wade was on the books for about 50 years or so. It strikes me that the country did not come together to support it. It feels as divided today as it was the day it was decided. Does that tell us something or decision. Bearing in mind that you did clerked for Justice Black when the author of Rogue Wade. Yes I do think that the decision is divisive but I actually think the court Justice Alito's opinion in Dobbs purports to suggest that overturning Roe is going to bring the country together. I think it's going to have exactly the opposite impact. We are already seeing the fallout of what you might call the inter jurisdictional abortion wars where the red states are getting redder and the blue states are getting bluer in the red states. They're trying to prohibit abortion not only within the state but really to limit the ability of women to travel to other states to seek abortion. And in the blue states we're seeing the attempt to immunize against prosecution their physicians who prescribe abortion medications for those in other states. So really this decision is leading us to even greater polarization even greater division professionals pick up on that because we just heard from President Biden saying that he's going to use the full force of his office to make sure that you can't interfere for example with travel interstate travel for the abortion. Does that raise further constitutional issues if a state does try to impede that. It does. It definitely raises issues about the constitutional right to travel. And one of the good things about this opinion is Justice Kavanaugh in his concurring opinion saying justice that he thought that there was in fact a constitutional right to travel. Some of those constitutional right to travel precedents however are a little bit murky and they really haven't been invoked. So the problem will be how many justices will actually sign on ultimately to a constitutional right to travel when the issue comes before the court. OK Professor really great to have you on today. Thank you very much for being as radical ROE of UC Hastings Law School which check out the Balance Power newsletter on the terminal and online. Coming up we're going to stay on the air for a second. Our Covid in BOVESPA on both TV and radio. The special coverage of the Supreme Court decision overturning Roe vs. Wade as well as Casey versus Planned Parenthood. This is balance of payment power on Bloomberg television and on radio. From the world of politics to the world of business this is a balance of power. With David Westin. From Bloomberg World Headquarters in New York to a television and radio audience worldwide. Welcome to our second hour about tapas. As we continue coverage of the Supreme Court's overturning of the Roe vs. Wade abortion rights ruling and for the first want to go to the place where it all began at 10:00 10:00 Eastern time this morning the Supreme Court the United States itself. When they handed down that momentous decision in the Dunn case overturning both Roe against Wade and Casey versus Planned Parenthood we go to our man on the scene. He's Washington correspondent Joe Matthew. He is of course the host of Sound On and joins us from outside the Supreme Court. So Joe I want to start actually with the important point we were talking about before which is we're hearing a lot from people who are very upset about this decision. I understand why they are we can sort of overlook the people that the fact that they're a friend or people who like it. Let's start actually by going back to what Kevin McCarthy the House minority leader said earlier today. This is where the voiceless will finally have a voice. This great nation can now live up to its core principle that all are created equal not born equal created equal. So Joe we listen to that together and we really have to bear in mind there are a lot of voters out there who feel pretty good about this isn't a law. In all likelihood. Oh absolutely and they're represented in the crowd behind me David. They're spend a lot of chanting a lot of yelling and a lot of singing over the last couple of hours in front of the Supreme Court. But you're right. Over the past hour we have heard both sides of this issue presented by both ends of Pennsylvania Avenue. Kevin McCarthy they're widely believed to be the next speaker of the House if Republicans take the majority delivering the lines that you just played for us. While President Biden called this a sad day for the court and a sad day for America. Remarkable as well to hear President Biden call out the former president by name saying it was three justices named by one president Donald Trump who were at the core of this decision. The president also calling for calm as there have been threats of violence and vandalism. Tonight a night of rage as some activists have called it. The White House has been consistent though David over the past couple of days that they will not tolerate violence in law enforcement here in the nation's capital. They say they are prepared. There's a massive fence a massive barrier that's been set up around the Supreme Court since that first draft opinion leaked. That was many weeks ago. It's still there although we have seen a very wide police presence since 10:00 this morning. Yeah it looks at least from the video it looks like it's a fairly tame sort fairly organized a group that grouping there. Thank you so much Louise Joe Matthew. He's host of Sound On You to catch that this afternoon at 5:00 p.m. Eastern Time on Bloomberg Radio. And now we go to Bloomberg Supreme Court reporter Greg Store. Greg you heard what the president say saying this basically has never happened before in history. The Supreme Court taking away a fundamental right. Is he right. More or less yes. Certainly no no right. As consequential as this. A right that transform the lives of millions of women and sparked this this decades long movement to to overturn it. It is unquestionably a historic day. Okay. Think. And as a practical matter what kind of divisions are there on the court from this. Because it was not really a 6 3 decision. It was 5 1 3. Right. There was no. I'm sorry. 2 3. Well at least what Chief Justice John Roberts is the one the one who said I would uphold this Mississippi law that bans abortion after 15 weeks. But I wouldn't go so far as to overturn Roe. And in fact he suggested that he might actually have upheld a much narrower right to terminate a pregnancy at least earlier in pregnancy. There's also a key opinion by Justice Brett Kavanaugh. He concurred. He joined the majority opinion voted to overturn Roe. But he also said for example that he would not vote to uphold a state that tried to restrict travel by somebody to a state where abortion is allowed. He also said he would not support retroactive punishment for people who had abortions. So he's probably a pivotal vote going forward as we battle over future restrictions. OK Greg thank you so much for all your coverage today which has not done yet I suspect the Greg story his Bloomberg Supreme Court reporter. Joining us now is Donald Air. He's former principal deputy solicitor general the Reagan administration and was deputy attorney general in the George administration of George Herbert Walker Bush. He's now an adjunct professor at Georgetown Law. So Don thank you so much for being with us. If you if you'll indulge me here I want to play something that we just heard from President Biden where he said that basically this is unprecedented with the Supreme Court said this is what President Biden just had to say. Today the Supreme Court of the United States expressly took away a constitutional right from the American people that it has already recognized. They didn't limit it. They simply took it away. That's never been done to a right so important to so many Americans but they did it. It's a sad day for the court and for the country. So Don talk about this just as a matter of Supreme Court history and precedent obviously overturning an important precedent of some 50 years is a big deal. It's not the first time the Supreme has ever done that. They did against in Browning his board of education. But is this the first time they did it in a way that took away a fundamental right. I believe it is. Yeah. And if you think in terms of our Bill of Rights and other ways that people's rights to engage in certain kinds of behavior or conduct this is the first instance I believe where the court has simply said and here after forty nine or so years there was a constitutional right recognized that existed. And we're taking it away. One of the things that I've been asked today at least is how could they do this when a majority of Americans according to polls at least do not favor taking away this. Right. It's something I don't know 60 65 percent say that there should be some right of abortion of some form. But on the other hand on the Supreme Court not there to reflect the will of the majority of people on a given day. Right. Well that's right. And I and I don't think anybody thinks that they should be there to purely reflect the will of the majority. But one of one of the important things that's occurred pretty graphically in the last two days with the gun case decided yesterday and they the leaked opinion and Dobbs having come out you know a few a couple months ago the court has now made it clear that they have a vision of their own nominations in terms of what the original what the founders meant to do and a sense of sort of an absolutist view of what the Constitution means. They've specifically said in this opinion and something pretty similar in the opinion yesterday that they're not going to be influenced by thinking about consequences consequences in the form of how people will react or in the context of the gun case yesterday consequences in the sense of weighing what's going to happen if a certain regulation is invalidated. They they appear to be ready to simply go off and follow their sense of what the founders wanted and just implement it and not really pay attention to where it went where that may take the country. I wonder where we're going next. I mean it's impossible to know but we can certainly speculate about it because there's a lot of talk about how far this decision may reach into things like contraception and same sex marriage. And we do have a concurring opinion from from Justice Thomas basic decision saying yeah those are on there. Those are on the list now. We're getting a hard look at that. Do we have any sense of how far the revocations of this opinion may go. No I don't. I don't think we do. And I you know I'm not I wouldn't predict that that's going to happen even though it's pretty clear that Justice Thomas. That's very clear from his opinion that he wouldn't go there. You know I think what is more ominous even than that is something that isn't really being very much talked about it. But this same court has a vision of certain other rights which it is ready to expand. It has expanded certain forms of First Amendment speech rights. It's expanded free exercise rights under the First Amendment that's expanded the takings clause. It's expanded a bunch of rights based on its sort of vision and sense of I guess the founders intention. I don't really know but in a way that has a common theme and that common theme is to impair and undermine the functioning of government. One good example of that are the cases that decided that invalidated local government restrictions for Covid safety purposes. But there is a lot more and there's a case coming up in the next day or two that's dealing with the Clean Air Act. And the court is pretty likely to take a narrow textual reading of that statute which may well lead us to a very narrow reading of the of the of the Clean Air Act and again impairing the function of government which I think is going to be the dominant theme of their upcoming jurisprudence. Dan you have a lot of experience in Washington a lot of experience in the Justice Department and specific. I'd like to draw upon your experience in the solicitor general's office solicitor general course which represents United States in the Supreme Court. You said a lot of time in that court. You argued cases. You know how it works. Is this going to generate a lot more litigation. Because already we're talking about things like maybe states restricting travel outside the state or restricting doctors things like that. Could we have a lot of abortion litigation following on from this. I think it's possible. And but I don't think you know to what degree the Supreme Court is going to participate in that. I think you know that the bigger concern that I have is that the court this five member majority now seems to be ready to act in what I would have to characterize as pretty. Extreme ways. If yesterday and today are any indication and I think that's going to invite a sea of litigation from people rubbing their hands together saying aha we have a court that will take our case on X issue because they're in sync with us. And I think you're going to see a lot more of that kind of litigation. And it worries me because I don't know what the limits of this court are going to be. And if they're not you know if what's happened so far is bad enough that it's going to undermine trust by a lot of people. And if they keep it up it's going to get worse and worse. Okay Don thank you so much for being with us appreciate it. That's Donald Air a true veteran of the Justice Department and now an adjunct professor at Georgetown Law. Coming up Barbara Perry professor and director of presidential studies at University of Virginia's Miller Center is going to join us. This is a special edition of Balance of Power on Bloomberg Television and on radio. This is a special edition of Balance of Power on Bloomberg television or radio. I'm David Westin and we are really focused today on the Supreme Court decision overturning Roe against Wade as well as Casey was a plan to end parenthood. But I must say I hadn't been paying attention to markets and they are up for our Bloomberg Markets you should know. Equity markets are all up over 2 percent right now. So continuing that little rally whether it's a bear market rally or not. In the meantime let's turn back to that decision. One of the important questions is how this decision in store decision everyone agrees fits into the history of the Supreme Court and what it does to it as an institution. For some answers on that we go to now to Barbara Perry. She's professor and director of presidential studies at University Miller's Virginia's Miller Center. She has served as a U.S. Supreme Court fellow and has worked for both Republican and Democratic members of the Senate. So Barbara thank you so much for being with us. Put this in historical context. Context. How does it fit. I've been studying the history of the court and the Constitution for over four decades now and I can't remember a case that had such impact across such a broad swath of of the American people. So I think that's the first thing to note it depending on what side the person's on. It doesn't really matter in this sense. These are matters of life and death literally. So I think we have to focus on that and then say what is the impact on the court. And that is that when it wades into these issues no pun intended on Roe v. Wade. But when it wades into these issues of life and death it means that it's going to generate a lot of emotion on both sides. So one of the things that we've heard said including by the president is states that this has never been done before. The Supreme Court is over taken back a fundamental right. At the same time one of the criticisms is that it was a 50 year precedent. And we do have starry decisis and we respect that at least try to whenever we can. But I wonder is that right. I mean Brown vs. Board of Education didn't take away a right. It gave a right but it overturned a much older precedent. Did it not. It did. It turned overturned one that was on some 50 some odd years old going all the way back to 1896 and the Plessy versus Ferguson case which allowed for public segregation in that case of transportation trains in particular. So yes we do have overturning of precedent on occasion. Usually people think in terms of progress being made when something is overturned. It also means that time marches on. Things change in society despite the fact that justices in this majority. Talk about being originalists and going back to the founders intentions as they wrote the Constitution and the amendments that have come since then. But at times do change. And sometimes the court keeps up with the times and sometimes it does not. But it strikes me that in Roe against way back in 1973 the court generated a lot of controversy in the country but for itself as well a controversy that really didn't die down much that I could tell over some 50 years. At the same time the court is right back into the controversy. Now what does that do to it as an institution its credibility with the populace. I've been thinking along those same lines David. Certainly all day. And it is the case that Justice Scalia on the conservative side used to say oh ever since Roe v. Wade we've been inundated with mail. And every anniversary in January Roe v. Wade thousands of pro-life marchers come and march around the court. So wouldn't it be great if we could put this aside in some fashion. In his case it would have been to overturn Roe v. Wade. But we see in their picture here on on screen that there are people out in front of the court. And it's very unusual to see those kinds of fences around the court. So I think again it shows the kind of emotion the notion of precedent that you mentioned previously. The reason courts have tended to want to hold on to precedent is that we don't want fundamental law to be changing every day or even every 50 years. It puts uncertainty into the law. So I think part and parcel of this along with the leak of this opinion a couple of months ago has led to the low approval ratings for the court. It's down around the 40 percent range and might go lower because a majority of Americans do support a right to access to abortion at least in the early stages of pregnancy. Barbara what does this decision do to the leadership of the chief justice. You talk about approval ratings. I'm not sure where his are right now but he's sort of in the middle joining in the judgment not in the opinion clearly is an institutionalist but. But is he really leading this court at this point or do blow would you. Is Clarence Thomas. I think Clarence Thomas and Justice Alito are leaving the court now and I think that Chief Justice Roberts who when he first came on the bench in 2005 said that he would hope to engage in a number of decisions and lead decisions that would not be unanimous at least be 6 7 or even 8 to 1. He's not saying that now. And so he's I think it also shows you how far to the right the court has moved given that he is now viewed as a centrist. Your old boss Justice Lewis Powell a great great justice I admired so much was viewed as the swing justice. And he truly was a moderate who tended to be in the middle between conservatives and liberals. But it shows you how far the court has moved to the right given that the chief justice is now viewed as being in the center. But he doesn't have control of that center as justice pounded. Well that's nice you said about justice but I certainly agree. He was a wonderful man a great justice in my opinion. And finally though I wonder also this Supreme Court doesn't issue decisions for popularity. At the same time if it issues a controversial decision and it doesn't get the country to get behind it sooner or later does it have a problem. Brown vs. Board of Education 50 years afterwards. Not too many people were saying it was a mistake. I'm not sure that you can say it about Roe vs. Wade. I don't think so again it's a majority chose. Maybe this will mold public opinion in a different way but I tend to doubt it. Another example of this that didn't really involve life versus death but the famous or infamous depending on one's you point. 1962 decision that banned a publicly written laws. But that ban that required prayer in public school and the prayer would be written by the state in that case New York. And that was hardly ever followed in public schools particularly in the Bible Belt. In those days. So sometimes the court has been ignored in this instance. It obviously has more of an impact on people's very lives. NIKKEI was always a treat to get to talk to you and particularly on something as important as this decision. That's Barbara Perry. She's professor and director of presidential studies at University of Virginia's Miller Center. Coming up more coverage of the U.S. Supreme Court overturning that historic abortion ruling. This is special edition of Balance of Power on Bloomberg Television and on radio. This is balance of power on Bloomberg Television Radio. I'm David Westin. We're continuing now with our special coverage of that Supreme Court decision today overturning Roe vs. Wade. And we are joined once again by Tina Davis our Bloomberg legal executive editor. So welcome back to you. Good to have you back. So we've heard now from President Biden. We actually interviewed Senator Smith Tina Smith from Minnesota about the possibility federal congressional statute. People don't think that's going to happen with this Congress. What else could happen in response to this. The question is what's the next shoe to drop particularly for those who are trying to preserve some right to an abortion. Right. Well aside from federal options this battle basically now moves to the states. So the individual states we've already seen the ACLU and Planned Parenthood talking about lawsuits. I believe one is already filed in Michigan. They're talking about a lawsuit in Ohio. What they're doing there is they're challenging any laws that may ban abortion as a result of this ruling. As you well know David when the Supreme Court issues these things that some they have to also issue the judgments that paperwork sometimes takes a while. So they're trying to take advantage of the lag time between this opinion and when it gets codified. And so into you know essentially statute to to basically say we want to make sure that individual states still have this power. Some states like New York are moving to put this in the constitution and other other efforts. But in Michigan we've seen an attorney general there who's been quite clear that she's not going to go forward with the laws that are on the books that would force her to make abortion illegal as a result of this ruling which may lead to a further division between the so-called red and so-called blue states where we have very two very different United States of America existing side by side when it comes to abortion. Well and even more than that I mean you've seen in Louisiana which has been very vocal about you know their trigger laws that come into effect. You know the district attorney of New Orleans has said that he does he's not going to enforce that law. And in the city. So you know it's not only a red versus blue state. It could be as much as you know what blocky live on in terms of whether or not the law enforcement agencies are going to move forward with the laws as written. So we have some possible workarounds at the state level in terms of governments but also we we're getting the private sector reacting. A number of companies now come on. Said what they're going to do in response. Yeah. We've had a few companies today that have responded. There have been companies previously. Certainly when the Texas law came into effect we saw some companies that were very vocal Uber and Citibank I believe both said look we're gonna offer our our employees the ability you know some support and some money if they need to travel out of state for this kind of healthcare that we will do that. Today we had J.P. Morgan came out with that CBS CBS and a few other companies that are basically saying it's in our best interest to make sure that our employees have access to all the health care they need and they're looking to even out any inequities based on where an employee is based. Yeah of course that leaves out people who aren't fortunate to work at JP Morgan or I think has done that Disney's heads of thing as well. Yeah. I mean it's going to be I think the larger companies the companies that obviously can afford to take on this extra amount of cost. But you know in an era like we have now where you know the unemployment is so low and there is such a battle for for the workforce you know it's might be another thing that you could use to try to make yourself attractive to a thing. Thank you so much for all your work on this today which is not finished I'm afraid. Tina that's Tina Davis of Bloomberg. Coming up we're going to talk with Laurence Tribe professor of constitutional law at Harvard Law School and consider one of the nation's leading constitutional scholars. That's coming up next. This is a special edition of Balance of Power. I'm Bloomberg Television and on radio. This is a special edition of Balance of Power on Bloomberg Television Radio and David Westin it's high time we got to check the markets because we have a nice rally going on equities and Abigail Doolittle is here to tell us all about it. A very nice rally indeed. David on the day we had the major indexes up more than 2 percent that S & P 500 right now near session highs up two point four percent. The tech heavy Nasdaq up about an equal amount up two and a half percent. Perhaps the bigger picture is on the week we have the S & P 500 up about 6 percent the first up week and for the best week since the end of May. Of course the big question is what's behind this rally. I would argue it has to do with the fact that investors are digesting the FOMC decision from last week that it's this Goldilocks tightening with this Goldilocks balance right now between inflation and a recession along with data. The fact that data isn't too strong but it's not too bad either puts us right in that scenario as well. So a bit of a Goldilocks scenario here. The question is is it a bear market rally or is it the start of a bounce. I stick with the bear market rally but I feel like this when I said this the other day I feel like this one could be pretty convincing. It may not just be a week or two. It could actually be a little bit longer. You did say that. I'll agree with that. That's exactly right. Thank you so much. Abigail Doolittle for that report on the markets. In the meantime we want to continue the story of that Supreme Court decision came down at 10:00 10:00 Eastern time today. Go back up to the Supreme Court itself where we have Joe Matthews Washington correspondent and host of Sound on every day of the week on Bloomberg Radio. So Joe first of all just give a brief update on the demonstration or the gathering up there. What are you seeing. It's this crowd has been hanging around for a couple of hours now. David it was a little bit bigger in the moments after the ruling was announced. So we saw lines of people streaming up to Capitol Hill and to the Supreme Court behind me. But I'll tell you those who remain are very vocal. There are signs that I could not read on the air this being a family program. There are also chants that might be familiar from events like these. No justice no peace. We've heard music playing. We've heard songs singing. And this represents both sides. We need to be clear. There are pro-choice and pro-life activists who have gathered outside the Supreme Court in the hundreds and even thousands at various points of the day. And of course that brings about the issue of security capital. Police have really lined themselves up around this whole area between the Supreme Court and the U.S. capital. And we've of course we know that the justices are being protected at their homes as well. It was just last week the president signed into law this legislation that gives justices families the opportunity to enjoy the same protection if the marshal of the Supreme Court suggested and that's exactly what we have seen since the attempts on Justice Cavanaugh's life or at least the arrests believing that was the case up in Maryland. So things have been. I won't use the word calm but certainly secure so far David. So so I'm gonna you a curve ball but it's one you can certainly hit out of the park because as you were talking we got word that the House is now passed that bipartisan gun safety bill and it's headed to the president's desk. I mean there's so much news coming out of Washington right now. It's not a big surprise but it is a big development. Well that's true. As a matter of fact the Senate got this done in very quick time. The vote last night to pass this on a bipartisan level and it was expected that the House would follow. But you know we're talking about this ruling being significant over the last 50 years of history and this legislation is significant over the last 30 years of history. There've been a number of attempts following mass shootings in this country but never until we've seen this following the shootings in you Valda and Buffalo have we seen something come together into legislation with bipartisan support that actually got to the floor and passed. Remembering that John Cornyn the Republican from Texas and Mitch McConnell himself the minority leader in the Senate signed off on these talks. They got things together with Democrats. And here we are with an incentive for states to pass red flag laws and expanded background checks for people under 21. The president's expected to sign that imminently. David a whole lot of history may mean made not a wash right now. Thank you so much. Taylor Riggs Joe Matthew host of Sound. And you can listen him tonight at 5:00 p.m. Eastern Time on Bloomberg Radio. Want to turn back to that decision the Supreme Court and bring in one of the true constitutional law experts of his generation. Laurence Tribe. He's professor of constitutional law at Harvard. He's a leading constitutional scholar who has argued 35 cases. The U.S. Supreme Court during career and I will say is the author of the definitive text on the subject. So Professor Tribe thank you so much for being with us. Let me start with maybe the most basic but for me maybe more important questions. A lot of people today who disagree with this decision say it's unprincipled it may be wrong and that may be mistaken but is it unprincipled. But it strikes me as profoundly unprincipled because the Supreme Court has long said that decisions. Of great durability on the basis of which people have reshaped their lives should not be overruled in the absence of some extraordinary change other than the mere personnel of the court. Nothing has happened other than essentially the Trump packing of the court. The addition of three justices selected by Donald Trump. Nothing has changed since Roe v. Wade and Casey to justify suddenly and for the first time in the court's history. Taking away a fundamental personal right now I say it's unprincipled and I think I would feel that way even if I were strongly pro-choice because this decision does not simply. Overturn the right to abortion. It overturns people's control over their own bodies. In the Casey decision in 1992 in a very much overlooked passage the court said that if we tell women that we can force them to remain pregnant. Then it follows We might be able to force some women to have abortions. If for example for eugenic reasons we think that the babies to. Whom they will give birth are not going to live very long or will live severely crippled lives. Or if we think they made an unwise decision and becoming pregnant at a very young age and their parents want them to abort we can force abortions on them. I wrote an article in The Atlantic just a few weeks ago saying don't be mistaken. Don't think just because you might be pro-choice and anti abortion that this decision is definitely going to protect your freedom. This decision takes power away from people over their own bodies and lives and intimate choices and gives that power to government. That's the basic thing it does. And the principle of an anti tyrannical constitution that principle is one that is now being shaken by the Supreme Court without any real justification. That's why I call it unprincipled. If I can ask it this way what went wrong. It's been on the books for almost 50 years now. Roe vs. Wade has. And with other major changes in custody law such as for example Brown vs. Board of Education I daresay the country came toward the decision even if it wasn't there at the beginning. The country didn't come toward this decision. We seem as divided today as we were then. What went wrong. Well I think Democrats were not as effective at the political game as Republicans were. They've played a long game. Half a century long gradually putting on the courts people who were committed to a certain view on particular substantive issues guns abortion school prayer a number of substantive issues. And gradually they did it. And those of us who kept telling Democrats in our own party. You've got to put more emphasis on the importance of electing people who share your constitutional values and will not confirm justices to the Supreme Court who have a completely different view of the Constitution. People did didn't listen. We didn't work as hard as the other side did and you know it's a cliche that elections have consequences but they do. And it was the election of 2016 more than anything else that had this consequence because when Trump was elected he told everybody what he's going to do. He was going to put justices on the court. Who would. He was confident. Vote to overrule Roe v. Wade. He did exactly that. And it was the election of Donald Trump that did this. You know we could go back and find other causes but this is a direct political consequence and it's a consequence that really represents the tyranny of the minority because it is a minority of the people who elected Donald Trump the justices who made this difference. The three were all confirmed by this group of senators who were elected by a dramatic minority of the American people. The mal distribution of votes in the Senate is part of the sort of hard wired into our system. But when you add it all up this is the consequence of a purely political shift not a shift in understanding of basic rights or anything of the sort. Professor you are of course a scholar but you're also you've spent a career as a strategist if I can put it that way at the Supreme Court and doing oral arguments planning oral arguments. We now have a concurring opinion from Justice Thomas talking about substantive due process rights going well beyond abortion involving things like contraception things like same sex marriage. If you were planning the defense of those despite the way that this decision came out what would you do rely. I would perhaps consider a different career. But being serious I think we have to make political changes. I don't think there is any path in the current court. I think Thomas was kept admirably candid more so than than Alito. Alito pretends that those other rights like the right to contraception the right to same sex marriage the right to personal intimacy with the person of your choice in the privacy of your home. He pretends that those are not on the chopping block. Well they are. And Thomas made it very explicit. He's basically inviting challenges. The court cannot prevent the. Elimination of a fundamental pillar of its jurisprudence from having fallout consequences and those fallout consequences are very serious and they can be changed only at the ballot box if we get a Congress and a Senate that is willing for example to consider expanding the court by adding four seats. That's a possibility. Even short of that Congress could pass. If we had a very different Senate Congress could pass a national codification of the right of personal reproductive choice. The House has already passed such a bill. The current Senate wouldn't even consider debating it. But if we are serious as the president just said a few minutes ago that Roe is on the ballot this November. That's where I would put my energy. I would not put my energy at clever brief writing because that's not going to make the key difference. A professor finally you I know have real respect for the institution the Supreme Court. As do I. What does this do potentially to the institution itself. And we talk about starry decisis not because we just want people to stay with what they've said in the past but also as I understand it it's cabin's the extraordinary powers of this non elected branch of government. Are we substantially undermining stare decisis with this decision. I think without any doubt the justices talk a good game when they say that we believe in the power of precedent. But when push comes to shove and the rubber hits the road precedent takes the hindmost. It seems to me that the latest poll which showed that the courts respect as an institution has fallen to 25 percent the lowest in American history. I bet after today it'll be dropping to 15 percent. I think that's a shame because I think although the court throughout the course of our history has had more power than I think it's appropriate for a net majority Shery Ahn body to have. And apart from the brief period the Warren Court the court really hasn't protected voting rights or minorities in the way that the myth would have it. Nonetheless it's important to have an institution that can stand up against tyranny in a way that this court can. And when that institution itself loses respect because it is so obviously being driven by a change in personnel. Then I think the country is in danger. And that danger is compounded by the kind of danger we saw in the nearly successful coup and the insurrection of January 6th. So the country is really at the cliff's edge with all of its institutions and in a very fragile condition. OK Professor thank you so much. Really a treat to have you with us today as Laurence Tribe. He's professor of constitutional law at Harvard. Coming up Doug Heye former communications director of the Republican National Committee weighs in on this important decision. This is a special edition of Balance of Power. A Bloomberg Television ad on radio. This is balance of power on Bloomberg television and radio. I'm David Westin we have special coverage for two hours today of that new decision for the Supreme Court out this morning overturning Roe against Wade with a lot of consequences for a lot of people for the economy for women and yes for politics as well. To give us a sense from the Republican point of view. We welcome now Doug Heye. He's a Republican strategist and former RNC communications director. Mr. Hai also served as deputy chief of staff for Eric Cantor. Mr. Cantor was the House majority leader. So welcome. It's great to have you here Doug. We heard earlier from the current minority leader Kevin McCarthy with his initial take on what this meant for Republicans. He seems to think it means something pretty good. What do you think. Yeah. For most Republicans it means delivering on a promise that has been long held. You know I used to work in the Senate for Senator Richard Burr. And when I did he met with then nominee Roberts then nominee Alito. And when we're going through that process I wouldn't have told you in 2005 2006 that that's what we would experience you know. So so many years later this is the culmination for Republicans of what they've campaigned on. And I think if we if we do political winners and losers here after two weeks of Donald Trump frankly getting his head kicked in by the January 6 committee he's now able to go to his base and say I've delivered for you. And that'll be a big message for him if he decides to run or not run or whatever he decides to do. It's immense a big part of his legacy. Is he going to make a difference really in the midterms. It will in some ways but I would tell you beware people on television saying that whatever happens in politics is great news for their side. They are. It is wishful thinking with sometimes the intellectual honesty of a professional wrestling referee. What we know is that this is going to be an important issue to a lot of voters but we don't know how much it really ranks on the issues of what they're looking at. So when you when we talk about moving from banning abortion in theory to in practice what does that do. Four months from now as people are still paying crazy bills for gas food everything that they're spending money on and where do they rank those issues. So what I do is I'd look at specific races where you might have an impact. I'd start in Missouri with the Senate primary where Eric Greitens was just endorsed by Right to Life. But Eric Schmidt the attorney general in Missouri has already put out a picture of him signing in the trigger laws now. So he's basically saying well you might have gotten the endorsement. I'm actually getting things done. So that will have an important hold on that Senate race. I'd look at governors races as well. Pennsylvania and Georgia being a good example in the Pennsylvania Senate race. John Fetterman was out with a statement. We haven't seen him in a long time. But he put a statement out immediately. Doug one of the questions I was have when something this dramatic happens is what's the danger of overplaying it from either side. I could say Republicans going too far and perhaps anything. For example suburban women on the other hand maybe Democrats going too far and maybe alienating particularly some of the Latino population. Yeah overreach is always a problem in politics or a potential problem to be to be concerned of. NIKKEI is one of the reasons potentially that Mitch McConnell was so keen on getting the gun deal done. And he had said we have a problem with suburban voters. This is one way that they can go and address this especially with today's news. But clearly there's got to be a lot of money raised about on this. There's going to be a lot of voter enthusiasm that's impacted by this. What we don't know is Democrats will be more excited Republicans will be more excited at least some and what impact that has. But as these laws are being enacted in state after state there is a real risk of a political backlash especially as we're now talking about you know things like the overfilled decision and Griswold of where real issues of privacy you know further can be drawn into this. You know it takes us to the Clarence Thomas to concurring opinion. Thank you so much Doug. It's really always a treat to have you with us. That's Doug Heye his Republican strategist and former RNC communications director. Coming up we're going to have some more coverage on that Supreme Court decision. This is a special edition of Balance of Power on Bloomberg Television and on radio. This is balance of power on Bloomberg Television Radio. I'm David Westin we're just wrapping up two hours of special coverage of that Supreme Court decision from this morning 10:00 Eastern Time overturning Roe vs. Wade. And to wrap it up with us we go once again to our Washington correspondent Joe Matthew up at the Supreme Court. He of course is the host of Sound Down. He's at the site the Supreme Court. And I hope by 5:00 p.m. this evening here we back in the radio studio with your program Joe. So tell us what's going on right now. Supreme Court. It's getting pretty loud again. I have to admit David we saw a little bit of a lull in the crowd for a while there after they had been demonstrating for. On both sides for the better part of a couple of hours. But AOC showed up. ALEXANDRA Castillo Cortez was here to rally pro-choice supporters a short time ago and people really keyed off of that. Just as that was happening a couple more bus loads of Capitol Police showed up just off the camera to the side here. There is a very large group of them all wearing reflector vests. It looks like they're almost as many police as protesters from this angle to be honest. They're staying off to the side presumably in case any kind of aggressive activity breaks out here. There are police as well scattered throughout the crowd. But we now have a very large number of officers just off to the side here on the lawn between the Supreme Court and the U.S. Capitol. This could be a long day. We have no idea how long these protesters are going to be there. David reminding everyone that hundreds were there even before the ruling was announced this morning at 10:00 10:00 a.m. Washington time. So so Joe let me ask you have you seen any arrests at this point. Is it the peach pictures we have seen we're seeing right now. Look pretty peaceful. It has been peaceful. It's important to note that things get loud. There's been screaming there's been some crying there's been laughing and singing. But people have responded to the police fairly well. Every moment I've seen a police officer try to take someone off a bench awful wall tell them to calm down. They've actually been accommodating and hopefully it stays that way. There are concerns about what happens after nightfall tonight David and I suspect that's why police are beginning to gather here in the second half of the day. Joe we've had a lot of drama today and you've really covered it magnificently I must say. You've got a long long way to go. We're going to have a lot of follow on in the coming days weeks and months. I dare say at the same time to remind us there's one story that is still out there we don't know the into and that's the investigation of the leak. It turns out that leaked opinion was basically a feeling we got. So it was right. That is correct. And it's still unknown even if this was a clerk if it came from a liberal or a conservative justice. The court has been remarkably tight about this quiet about this. Keeping leaks from getting into the mainstream media here. And look David you spent time in this organization. This is a very tightly knit group. After that leak they circled the wagons and they are trying to take care of this with the direction of the marshal on their own here. And at some point presumably the chief justice will tell us what they found. But that is absolutely right as justices in many cases hunker down in their homes with their families with federal protection here in the District of Columbia in Virginia and Maryland. There is a very important investigation happening inside that building. Joe I can't thank you enough for all your great work through that these last two hours as Bloomberg's Joe Matthew hosts a sound on and listen at 5:00 p.m. this afternoon. And this is Bloomberg with special coverage of the Supreme Court.
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A two hour special of Bloomberg’s ‘Balance of Power’ with David Westin, covering the Supreme Court overturn of the Roe v. Wade case. (Source: Bloomberg)


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