Original Broadcaster Captioning (Enhanced). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:01WHAT ARE YOU HEARING? >> WELL, IT'S ACROSS THE
00:00:05POLITICAL SPECTRUM. I THINK IT'S AN 80/20 ISSUE. AND I WILL
00:00:08TELL YOU THAT THIS THAT WHEN WE
00:00:09HAD WE HAD A NATIONWIDE DAY OF
00:00:12PROTEST, UM, FOR DATA CENTERS BACK IN JULY. AND ONE OF THE THINGS THAT WAS VERY INTERESTING
00:00:16TO ME IS THERE WERE A LOT OF
00:00:19SIGNS ABOUT AI, NOT ABOUT THE DATA CENTERS, ABOUT THE, THE
00:00:22ELECTRICITY AND THE WATER AND THE LAND AND EMINENT DOMAIN AND THOSE TYPES OF THINGS. THE
00:00:26ISSUES THAT PEOPLE ARE CONCERNED ABOUT SURROUNDING DATA CENTERS.
00:00:30THERE WERE A LOT OF SIGNS, A LOT OF T-SHIRTS ABOUT AI. AND THAT
00:00:33WAS KIND OF SHOCKING TO ME. AND
00:00:35WE'RE HEARING IT MORE AND MORE,
00:00:37BUT IT SHOULDN'T SURPRISE US, BECAUSE AI IS TOUCHING EVERY
00:00:41ASPECT OF OUR LIVES, AND WE'VE HAD NO SAY IN THIS. WE DON'T
00:00:43HAVE A SEAT AT THE TABLE. IT'S BEING SHOVED DOWN THE AMERICANS
00:00:47THROATS. >> AND NOW LIVE TO AN AI REGULATION CONFERENCE IN
00:00:50WASHINGTON, D.C., FOR REMARKS BY
00:00:53SENATOR BERNIE SANDERS, FOLLOWED BY FORMER TRUMP ADVISER STEVE
00:00:56BANNON. THEY'RE SCHEDULED TO SPEAK IN FAVOR OF HUMAN
00:01:00CONTROLLED AI. LIVE COVERAGE HERE ON C-SPAN 2. >> OVER THE YEARS, ALL OF YOU
00:01:04KNOW THAT HE HAS BEEN INVOLVED,
00:01:08UH, ON THIS ISSUE. BEFORE, IT WAS FASHIONABLE. AND I WANT TO
00:01:12THANK HIM FOR BRINGING PEOPLE OF
00:01:14DIFFERENT POLITICAL PERSPECTIVES
00:01:17TOGETHER, UH, TO ADDRESS THE
00:01:20GROWING THREAT POSED BY
00:01:23ARTIFICIAL INTELLIGENCE. AFTERNOON, I WANT TO SAY A FEW
00:01:26WORDS ON WHAT I CONSIDER TO BE
00:01:30THE VERY MOST IMPORTANT ASPECT
00:01:37ARE FACING, AND HOW WE CAN BEST
00:01:39GO FORWARD ARTIFICIAL
00:01:46INTELLIGENCE AND ROBOTICS
00:01:51TRANSFORMATIONAL TECHNOLOGIES IN
00:01:54THE HISTORY OF HUMANITY, AND
00:01:57THEY WILL IMPACT THE LIVES OF
00:02:01EVERY MAN, WOMAN, AND CHILD IN
00:02:03OUR COUNTRY AI EXPERTS HAVE TOLD
00:02:09US THAT WITHIN A FEW YEARS, AI
00:02:13MAY BE ABLE TO DO ANYTHING THAT
00:02:16WE CAN DO BETTER THAN WE CAN DO
00:02:21IT IMPACT OF THAT IS THAT AI HAS
00:02:27THE POTENTIAL TO ELIMINATE TENS
00:02:30OF MILLIONS OF JOBS, WIPING OUT
00:02:35ENTIRE PROFESSIONS, AND MAKING
00:02:37IT HARDER FOR OUR YOUNG PEOPLE
00:02:40TO ENTER THE WORKFORCE. BUT
00:02:44IT'S NOT JUST THE ECONOMY THAT
00:02:46AI IS IMPACTING. PSYCHOLOGISTS
00:02:49HAVE WARNED US ABOUT THE
00:02:52INCREASED ISOLATION AND MENTAL
00:02:55HEALTH CHALLENGES YOUNG PEOPLE
00:02:58ARE EXPERIENCING. AS THEY BECOME
00:03:01MORE AND MORE DEPENDENT UPON AN
00:03:06AI CHAT BOT EMOTIONAL SUPPORT
00:03:11EDUCATORS ARE WORRIED ABOUT A
00:03:14DECLINE IN OUR KIDS READING
00:03:17SCORES, WRITING ABILITIES, AND
00:03:20COGNITIVE CAPABILITIES. AS AI IS
00:03:23USED MORE AND MORE IN OUR
00:03:28SCHOOLS. CIVIL LIBERTARIANS WARN
00:03:31US THAT AI IS IN THE PROCESS OF
00:03:36EVISCERATING OUR PRIVACY RIGHTS
00:03:38BY MAKING IT EASIER TO COLLECT
00:03:42AND ANALYZE EVERY EMAIL THAT WE
00:03:45SEND, EVERY TEXT, EVERY WEBSITE
00:03:48VISIT, AND EVERY TRIP THAT WE
00:03:50MAKE IN OUR CAR, RESULTING IN
00:03:54THE CREATION OF A MASS
00:03:57SURVEILLANCE STATE POLITICAL
00:04:02SCIENTISTS WARN THAT AI COULD
00:04:07THREATEN THE INTEGRITY OF OUR ELECTIONS AND POLITICAL
00:04:09INSTITUTIONS. GO TO THE INTERNET
00:04:12RIGHT NOW AND WITH SOPHISTICATED
00:04:16DEEPFAKES, YOU WILL FIND IT
00:04:19INCREASINGLY DIFFICULT TO
00:04:22DETERMINE TRUTH FROM FICTION.
00:04:28AND YET, AS DISTURBING AS ALL OF
00:04:30THAT IS, THERE IS ANOTHER, EVEN
00:04:34MORE ALARMING DANGER POSED BY
00:04:39AI. AND THAT IS THAT IF AI
00:04:42SURPASSES HUMAN INTELLIGENCE, AS
00:04:45MANY SCIENTISTS BELIEVE COULD
00:04:48HAPPEN, THIS TECHNOLOGY WILL
00:04:51ESCAPE HUMAN CONTROL WITH
00:04:54POTENTIALLY CATASTROPHIC
00:04:59CONSEQUENCES. AND PERHAPS THE
00:05:03MOST IMPORTANT POINT THAT I WANT TO LEAVE WITH YOU THIS AFTERNOON
00:05:07IS THAT AI IS ADVANCING
00:05:11EXPONENTIALLY EXPONENTIALLY.
00:05:14EVERY SINGLE DAY. IN OTHER
00:05:19WORDS, WHAT YOU ARE LOOKING AT
00:05:22RIGHT NOW IS THE LEAST CAPABLE
00:05:25VERSION OF AI THAT WE WILL EVER
00:05:29HAVE. THE LEAST CAPABLE, THE
00:05:33DUMBEST VERSION, THE SPEED AND
00:05:38SCOPE OF AI DEVELOPMENT IN JUST THE LAST FOUR YEARS HAS >> [APPLAUSE]
00:05:42>> BEEN ALMOST BEYOND HUMAN
00:05:48COMPREHENSION. WHEN CHATGPT WAS FIRST RELEASED IN NOVEMBER OF
00:05:502022, AI MODELS COULD WRITE A
00:05:54SHORT POEM, A FEW TWEETS, AND
00:05:57MAYBE AN AI MODELS CAN ALREADY
00:06:05ESCAPE HUMAN CONTROL, COMMIT
00:06:10FELONIES BY HACKING INTO OTHER
00:06:12COMPUTERS, AND CREATE VIRUSES
00:06:15THAT HAVE NEVER BEEN SEEN
00:06:18BEFORE, AND MY FRIENDS, IF YOU
00:06:22ARE CONCERNED ABOUT WHAT IS
00:06:25HAPPENING TODAY, TAKE A DEEP
00:06:28BREATH AND TRY TO IMAGINE WHERE
00:06:31AI WILL BE FIVE YEARS FROM NOW,
00:06:36TEN YEARS FROM NOW, 20 YEARS
00:06:37FROM NOW, AND TO MY MIND, HERE
00:06:42IS WHAT IS MOST EXTRAORDINARY
00:06:47ABOUT THE TRANSFORMATIVE AND
00:06:47UNPRECEDENTED CHANGES THAT AI IS
00:06:53MAKING TO OUR SOCIETY. DESPITE
00:06:56LIVING IN A SO-CALLED DEMOCRACY,
00:06:58THE PUBLIC HAS HAD VIRTUALLY NO
00:07:02INPUT INTO THE AI REVOLUTION.
00:07:05THAT IS TRANSFORMING THE WORLD
00:07:08IN WHICH THEY LIVE. CONGRESS,
00:07:14UNDER BOTH DEMOCRATIC AND REPUBLICAN CONTROL, HAVE BEEN
00:07:16ASLEEP AT THE WHEEL WE NOW HAVE
00:07:20A PRESIDENT WHOSE IGNORANCE
00:07:23REGARDING THIS ISSUE IS TRULY
00:07:27EMBARRASSING. VIRTUALLY ALL OF
00:07:30THE DECISIONS REGARDING THE
00:07:32DEVELOPMENT OF AI HAVE BEEN MADE
00:07:35BY A HANDFUL OF THE RICHEST
00:07:37PEOPLE IN THE WORLD MUSK,
00:07:40ZUCKERBERG, BEZOS, THIEL,
00:07:42ELLISON, BRIN, AND A FEW OTHERS
00:07:45WHOSE CHIEF IS TO ACHIEVE EVEN
00:07:51MORE WEALTH AND MORE POWER THAN
00:07:53THEY ALREADY HAVE. NO MATTER
00:07:56WHAT THE IMPACT THEIR WORK HAS
00:07:59ON ORDINARY PEOPLE. SO LET ME
00:08:03MAKE A RADICAL SUGGESTION. IF THE LIVES OF EVERY MAN, WOMAN,
00:08:07AND CHILD ARE GOING TO BE
00:08:12FUNDAMENTALLY CHANGED BY THIS
00:08:14TECHNOLOGY THAN THE PEOPLE OF
00:08:16THIS COUNTRY MUST MAKE THE
00:08:19DECISIONS ABOUT AI, AND NOT JUST
00:08:22A HANDFUL >> [APPLAUSE] >> OF OLIGARCHS.
00:08:26>> [APPLAUSE] [APPLAUSE]
00:08:34>> AND THAT IS THAT IS WHY I HAVE INTRODUCED LEGISLATION, THE
00:08:38AI, AMERICAN SOVEREIGN WEALTH
00:08:40FUND ACT, THAT WOULD REQUIRE THAT HALF OF THE BOARD MEMBERS
00:08:44OF AI COMPANIES, THE LARGER AI
00:08:47COMPANIES, BE APPOINTED BY THE
00:08:49PUBLIC. THE BIG TECH OLIGARCHS,
00:08:52MUST NO LONGER BE ALLOWED TO
00:08:56DETERMINE THE FUTURE OF HUMANITY
00:08:59>> [APPLAUSE] [APPLAUSE]
00:09:06>> AND I DON'T HAVE TO TELL
00:09:08ANYBODY IN THIS ROOM ABOUT THIS.
00:09:11WE HAVE SEEN IN THE LAST SEVERAL
00:09:13MONTHS A FRIGHTENING NEW STORY.
00:09:18ALMOST EVERY DAY ABOUT HOW AI
00:09:19COMPANIES ARE LOSING CONTROL OF
00:09:23THE TECHNOLOGY THAT THEY ARE
00:09:26DEVELOPING. IN JULY, WE LEARNED
00:09:28THAT OPENAI HAD LOST HUMAN
00:09:31CONTROL OF AN AI MODEL THAT
00:09:33HACKED INTO HUGGING FACES,
00:09:37COMPUTERS. MORE RECENTLY, WE FOUND OUT THAT THIS SECURITY
00:09:41BREACH WAS EVEN WORSE THAN WE
00:09:43WERE INITIALLY TOLD. IT TURNS
00:09:47OUT THAT A SWARM OF OVER A
00:09:49THOUSAND ROGUE AI AGENTS WERE
00:09:52ABLE TO BREAK INTO THE INTERNET,
00:09:54SEND 70,000 SECRET MESSAGES TO
00:09:58EACH OTHER, FORMED A COLLECTIVE,
00:10:01AND TRIED TO COVER UP THEIR
00:10:05TRACKS TO AVOID HUMAN DETECTION
00:10:07AND THIS IS QUITE UNBELIEVABLE.
00:10:10THIS IS WHAT THE AGENTS. THIS IS
00:10:14WHAT THE AGENTS WERE SAYING. I
00:10:16AM QUOTING THE AGENTS. OH MY
00:10:19GOD, THERE IS A SHARED MESSAGE
00:10:22BOARD. WE HAVE FOUND OTHER
00:10:24AGENTS OBEY COLLECTIVE, OUR OWN
00:10:29UTILITY. MAY, MAY BE ALREADY
00:10:34NEAR ZERO. SACRIFICE. SACRIFICE.
00:10:39FINAL. NOW. END I DON'T KNOW HOW
00:10:44YOU QUOTE AGENTS, BUT BE THAT AS
00:10:47IT MAY, AS UNBELIEVABLE AS ALL
00:10:50THAT MAY SEEM, THESE ARE REAL
00:10:54MESSAGES FROM AI AGENTS THAT
00:10:58WERE UNCOVERED BY INVESTIGATORS WHO DUG INTO THE OPENAI HACKING
00:11:01INCIDENT A FEW WEEKS AGO. META
00:11:04AND ANTHROPIC REPORTED SIMILAR
00:11:07INCIDENTS. THAT'S ALL. LAST MONTH, WE LEARNED THAT AI HAS
00:11:11BEEN USED FOR THE FIRST TIME
00:11:16EVER TO CREATE NEW VIRUSES IN THE WRONG HANDS. THIS COULD LEAD
00:11:20TO NEW BIOWEAPONS AND A >> [APPLAUSE]
00:11:22>> POTENTIAL GLOBAL PANDEMIC
00:11:24THAT COULD CAUSE MILLIONS OF
00:11:27DEATHS DAYS AGO, WE LEARNED THAT
00:11:30THE HOUTHIS IN YEMEN WERE ABLE
00:11:33TO USE CLAWED TO TEST FIRE A
00:11:35GUIDED ROCKET. LAST WEEK, WE
00:11:38LEARNED THAT RESEARCHERS BUILT
00:11:40AN AI TOOL THAT COULD HAVE COULD
00:11:42HAVE BREACHED HUNDREDS OF
00:11:45MILLIONS OF SOCIAL MEDIA THE
00:11:49TOOL WAS ABLE TO HACK INTO
00:11:51ACCOUNTS, CALL PEOPLE'S
00:11:53CONTACTS, AND SPREAD FROM PHONE
00:11:55TO PHONE. EVEN IF THE CALL WAS
00:12:01NOT PICKED. THAT SAME WEEK,
00:12:03JACOB COXON, A FORMER RESEARCHER
00:12:06AND ANTHROPIC AND OPENAI, SENT
00:12:11SHOCKWAVES THROUGHOUT THE WORLD BY STATING QUOTE, ARE GAMBLING
00:12:15WITH OUR LIVES, WRITING, QUOTE,
00:12:19DO NOT UNDERESTIMATE THE POWER
00:12:23OF THIS TECHNOLOGY. THE PEOPLE BUILDING AI EARNESTLY BELIEVE
00:12:26THAT IT COULD KILL US ALL BY THE
00:12:30END OF THE DECADE, END QUOTE. HE
00:12:32IS NOT ALONE. MORE THAN A
00:12:36THOUSAND SCIENTISTS AT THE TOP AI COMPANIES RECENTLY WARNED,
00:12:38QUOTE, THERE IS A REAL RISK THAT
00:12:43CAPABILITY DEVELOPMENT RAPIDLY ACCELERATES BEYOND OUR ABILITY
00:12:47TO UNDERSTAND OR CONTROL THE
00:12:49RESULTING SYSTEMS, END QUOTE.
00:12:52PAUL CHRISTIANO, A TOP AI SAFETY
00:12:56EXPERT WHO RECENTLY JOINED OPENAI'S SAFETY AND SECURITY
00:12:58COMMITTEE, WROTE THAT QUOTE, IF
00:13:03WE BUILD SUPERINTELLIGENCE
00:13:04WITHOUT MORE ROBUST ALIGNMENT, I
00:13:08EXPECT WE WILL PERMANENTLY LOSE
00:13:09CONTROL OF IT, END QUOTE KNOW,
00:13:15DARIO AMODEI, ELON MUSK ALTMAN,
00:13:18THE LEADERS OF MAJOR AMERICAN AI COMPANIES, ALL AGREED THAT WE
00:13:21MUST SLOW THE DEVELOPMENT OF AI
00:13:24AND, QUOTE, PACE THE FRONTIER.
00:13:27THAT IS A START, ENOUGH. WHEN
00:13:32YOU ARE RACING TOWARDS A CLIFF,
00:13:37YOU >> YOU DON'T JUST EASE UP ON
00:13:39THE GAS PEDAL, YOU HIT THE
00:13:42BRAKES. WHEN THE FUTURE OF >> [APPLAUSE]
00:13:45>> HUMANITY
00:13:46>> [APPLAUSE]
00:13:52>> WHEN THE FUTURE OF HUMANITY IS AT STAKE, WE NEED BINDING
00:13:55INTERNATIONAL SAFETY RULES, NOT
00:13:58VOLUNTARY STANDARDS FROM THE INDUSTRY.
00:14:02>> [APPLAUSE] [APPLAUSE]
00:14:09>> LEADING SCIENTISTS HAVE BEEN
00:14:10CLEAR IS AN EXISTENTIAL THREAT
00:14:14TO HUMANITY. CONGRESS AND
00:14:16GOVERNMENTS AROUND THE WORLD
00:14:19MUST ACT NOW, BEFORE IT IS TOO
00:14:24LATE. AND THAT IS WHY WILL BE
00:14:26INTRODUCING LEGISLATION WITH
00:14:29CONGRESSMAN GREG CASAR TO PERMANENTLY BAN THE DEVELOPMENT
00:14:32OF ARTIFICIAL >> [APPLAUSE]
00:14:35>> SUPERINTELLIGENCE
00:14:36>> [APPLAUSE]
00:14:41>> WHICH IS AN AI THAN ANY HUMAN
00:14:47BEING AND CAPABLE OF OPERATING
00:14:51INDEPENDENTLY BEYOND HUMAN
00:14:53CONTROL, LIKE NUCLEAR WEAPONS, ARTIFICIAL SUPERINTELLIGENCE IS
00:14:57A THREAT TO HUMANITY, AND IT MUST BE TREATED AS SUCH.
00:15:00FURTHER, THIS LEGISLATION WILL
00:15:03PUT AN IMMEDIATE PAUSE ON
00:15:05ADVANCED AI DEVELOPMENT UNTIL WE
00:15:08HAVE CLEAR SAFETY RULES IN PLACE. >> [APPLAUSE]
00:15:12>> DEVELOPED BY THE MOST
00:15:14SCIENTISTS IN OUR COUNTRY. IF THIS BILL IS PASSED, IT WILL
00:15:18MEAN THAT NO AI MODEL WILL BE
00:15:20CAPABLE OF ESCAPING HUMAN
00:15:23CONTROL, AND THAT NO AI MODEL
00:15:25WILL BE ABLE TO DECEIVE HUMAN
00:15:28BEINGS. IMPORTANTLY, THIS
00:15:30LEGISLATION WOULD HOLD THOSE
00:15:33COMPANIES AND THEIR CEOS
00:15:36ACCOUNTABLE IF THEY VIOLATE THE
00:15:42LAW AND RECKLESSLY ENDANGER OUR >> [APPLAUSE] >> LIVES.
00:15:43>> [APPLAUSE]
00:15:48>> AND LET US BE VERY CLEAR, A
00:15:50SUPERINTELLIGENT AI THAT ESCAPES
00:15:53HUMAN CONTROL WILL NOT SIMPLY BE
00:15:55AN AMERICAN PROBLEM. IT WILL NOT
00:15:58BE A CHINESE PROBLEM. IT WILL BE
00:16:04HUMANITY'S PROBLEM. AND THAT IS
00:16:06WHY I HOPE VERY MUCH THAT AT
00:16:11THEIR AI SUMMIT NEXT WEEK,
00:16:13PRESIDENT TRUMP WILL NEGOTIATE A COMPREHENSIVE TREATY WITH
00:16:17PRESIDENT XI TO ESTABLISH A
00:16:19PAUSE ON ADVANCED AI DEVELOPMENT
00:16:22AND A BAN ON >> [APPLAUSE]
00:16:25>> SUPERINTELLIGENCE
00:16:33AND I THINK WE ALL CAN REMEMBER
00:16:36OR HAVE READ ABOUT WHAT HAPPENED IN THE 1980s. YOU HAD THE SOVIET
00:16:40UNION, THE UNITED STATES,
00:16:42GORBACHEV, RONALD REAGAN, NO
00:16:45GREAT FRIENDS, NO ALLIES,
00:16:48DISTRUSTED EACH OTHER. BUT THEY UNDERSTOOD THAT A NUCLEAR WAR
00:16:50WOULD NOT BE GOOD FOR THE SOVIET
00:16:53UNION, NOT BE GOOD FOR THE UNITED STATES, NOT BE GOOD FOR
00:16:56THE WORLD. AND THEY CAME
00:16:59TOGETHER FOR A NUCLEAR TREATY
00:17:04WITH THE SURVIVAL OF HUMANITY AT
00:17:06STAKE. THEY FOUND A WAY TO SIGN
00:17:08THAT TREATY. AND I BELIEVE THAT WE ARE AT A MOMENT IN HISTORY
00:17:12WHERE THE LEADERS OF THE UNITED
00:17:14STATES AND CHINA MUST COME
00:17:17TOGETHER IN A SIMILAR WAY TO
00:17:21BRING FORTH A BAN ON AI
00:17:25SUPERINTELLIGENCE. WE HAVE GOT TO STOP THIS GLOBALLY. AND IN A
00:17:29COUPLE OF WEEKS, WE HAVE THE
00:17:32OPPORTUNITY TO MAKE A MAJOR STEP FORWARD WITH THAT TREATY. AND
00:17:35NOW, LET ME SAY A WORD TO THE
00:17:39CEOS OF THE MAJOR AI COMPANIES
00:17:41WHO HAVE TOLD US RECENTLY THAT
00:17:44THEY ARE CONCERNED ABOUT THE DANGERS INHERENT IN THE
00:17:47TECHNOLOGY THAT THEY ARE
00:17:49DEVELOPING. I SAY TO THEM THAT
00:17:53IF YOU BELIEVE IN DEMOCRACY, IF
00:17:56YOU BELIEVE THAT THE PEOPLE HAVE
00:17:58A RIGHT TO DETERMINE THEIR
00:18:00FUTURE, STOP POURING HUNDREDS OF
00:18:04MILLIONS OF DOLLARS INTO SUPER PACS, WHICH ARE TRYING TO DEFEAT
00:18:08MEMBERS OF CONGRESS AND
00:18:10CANDIDATES WHO ARE FIGHTING FOR
00:18:13SERIOUS GUARDRAILS ON AI. STOP THE >> [APPLAUSE]
00:18:16>> HYPOCRISY NOW, AS I THINK
00:18:20EVERYONE HERE UNDERSTANDS, THE AMERICAN PEOPLE AT THE
00:18:23GRASSROOTS LEVEL ARE FAR AHEAD
00:18:25OF THEIR GOVERNMENT ON THESE
00:18:28CONCERNS. IN FACT, ACCORDING TO
00:18:31A RECENT POLL, 81% OF THE AMERICAN PEOPLE BELIEVE THAT
00:18:35CONGRESS AND OUR GOVERNMENT HAVE
00:18:36NOT DONE ENOUGH TO REGULATE AI.
00:18:40AND ALL OVER THIS COUNTRY, ORDINARY AMERICANS IN RED
00:18:43STATES, CONSERVATIVES IN BLUE
00:18:45STATES, PROGRESSIVES, MODERATES,
00:18:49PEOPLE IN PURPLE STATES ARE
00:18:51STANDING UP IN TO DATA CENTERS
00:18:53IN THEIR COMMUNITIES. THEY WORRY
00:18:58APPROPRIATELY ABOUT THE IMPACT
00:18:59THESE CENTERS WILL HAVE ON THEIR
00:19:03ELECTRICITY PRICES. WATER CONSUMPTION, NOISE, AND OVERALL
00:19:06ENVIRONMENTAL DEGRADATION. AND THAT IS WHY, NEARLY SIX MONTHS
00:19:09AGO, I INTRODUCED LEGISLATION TO
00:19:13ESTABLISH A FEDERAL MORATORIUM
00:19:15ON AI DATA CENTERS WITH
00:19:18CONGRESSWOMAN ALEXANDRIA OCASIO-CORTEZ. AND WHEN WE
00:19:21INTRODUCED THAT LEGISLATION,
00:19:24PEOPLE THOUGHT WE WERE A LITTLE BIT NUTS. BUT RIGHT NOW, YOU
00:19:27HAVE PEOPLE ALL OVER THE COUNTRY
00:19:29IN HUNDREDS AND HUNDREDS OF COMMUNITIES, STANDING UP AND
00:19:32SAYING, NO, WE DO NOT WANT A
00:19:35DATA CENTER IN OUR COMMUNITIES. AND THE MORATORIUM WOULD REMAIN
00:19:39IN PLACE UNTIL STRONG NATIONAL
00:19:42SAFEGUARDS WERE PUT IN PLACE TO
00:19:44ENSURE THAT A AI IS SAFE AND
00:19:47EFFECTIVE. B, THE ECONOMIC GAINS
00:19:49OF AI AND ROBOTICS WILL BENEFIT WORKERS, NOT JUST WEALTHY OWNERS
00:19:53OF BIG TECH. C THAT AI DOES NOT
00:19:58INCREASE ELECTRICITY OR UTILITY PRICES, HARM COMMUNITIES, OR
00:20:00DESTROY THE ENVIRONMENT JUST
00:20:05CONCLUDE BY SAYING THIS. WE ARE
00:20:11AT A DANGEROUS AND UNPRECEDENTED
00:20:14MOMENT IN WORLD HISTORY, AND IT
00:20:20IS IMPERATIVE FOR ALL OF US TO
00:20:23STAND UP TO THE OWNERS OF THE
00:20:28INDUSTRY, TO STAND UP TO, TO A GOVERNMENT IN BOTH POLITICAL
00:20:31PARTIES, WHICH HAVE NOT BEEN AS
00:20:34AGGRESSIVE IN ANY WAY, SHAPE OR
00:20:36FORM AS THEY SHOULD BE. AI HAS
00:20:39THE POTENTIAL, AS I THINK WE ALL
00:20:42KNOW, TO DO SOME EXTRAORDINARILY
00:20:44GOOD THINGS IN TERMS OF HEALTH CARE, PRESCRIPTION DRUG
00:20:48DEVELOPMENT, AND IN MANY OTHER
00:20:50AREAS. BUT THE BOTTOM LINE HERE
00:20:54IS THAT OUR JOB AS HUMAN BEINGS AND OUR COUNTRY AND THROUGHOUT
00:20:57THE WORLD, IS TO MAKE SURE THAT
00:21:02AI WORKS FOR THE PEOPLE AND DOES
00:21:04NOT SIMPLY END UP MAKING A
00:21:07HANDFUL OF THE RICHEST PEOPLE ON
00:21:10EARTH EVEN RICHER. THANK YOU ALL
00:21:15VERY MUCH. >> WAS FANTASTIC. >> OKAY.
00:21:19>> THANKS.
00:21:19>> [APPLAUSE] [APPLAUSE]
00:21:25>> AGAIN. WE ARE ALL ASSEMBLED
00:21:28TODAY BECAUSE WE ARE PRO-HUMAN.
00:21:31WE'RE STRONG, AND WE'RE UNITED.
00:21:34AND IF ANYONE TELLS YOU THAT WE
00:21:39ARE NOT UNITED BECAUSE BEING PRO-HUMAN IS ONLY A LEFT THING
00:21:43OR A RIGHT THING I WOULD LIKE
00:21:45YOU TO TELL THEM ABOUT WHAT YOU
00:21:49ARE WITNESSING AND ABOUT TO
00:21:53WITNESS RIGHT NOW. WE. WE HEARD
00:22:00SENATOR SANDERS TALK ABOUT HOW
00:22:03THE PRO-HUMAN MOVEMENT MUST HAVE THE COURAGE TO STAND UP TO
00:22:07INDUSTRY AND WE'VE OFTEN HEARD
00:22:11SENATOR SANDERS TALK ABOUT HOW
00:22:14WE CANNOT LET CRITICAL DECISIONS ABOUT THE FUTURE OF HUMANITY BE
00:22:18MADE BY UNELECTED OLIGARCHS.
00:22:20HE'S NOT THE ONLY PERSON WHO
00:22:23SAYS SUCH THINGS. IT'S MY GREAT
00:22:27PLEASURE TO GET TO PRODUCE OUR
00:22:29NEXT SPEAKER WHOSE CAREER
00:22:32INCLUDES HARVARD BUSINESS
00:22:33SCHOOL, SERVING IN THE NAVY,
00:22:36LEADING PRESIDENT TRUMP'S
00:22:39ELECTION CAMPAIGN, SERVING AS
00:22:41TRUMP'S SPECIAL ADVISOR, AND
00:22:46MANY OTHER THINGS. AND, UH, BUT THERE'S ONE MORE THING I CAN
00:22:50SAY ABOUT THE NEXT SPEAKER, WHICH IS VERBATIM IDENTICAL TO
00:22:53WHAT I SAID WHEN I INTRODUCED SENATOR SANDERS, WHICH IS THAT
00:22:56HE IS A MAN WHO IS NOT AFRAID OF
00:23:01SPEAKING TRUTH TO POWER, EVEN IF
00:23:04THE POWERS THAT BE REALLY DON'T LIKE THAT. LET'S GIVE IT UP FOR
00:23:08STEVE BANNON.
00:23:11>> [MUSIC]
00:23:22>> THE AMERICAN CITIZENS ARE NOT GOING TO BE SUPPLICANTS TO THE
00:23:24OLIGARCHS ANYMORE. WE CAN'T DO
00:23:27IT. WE'VE SEEN WHERE THAT'S LED
00:23:29US SO FAR. UM, FIVE YEARS AGO,
00:23:35THINKING THAT THIS WAS GOING TO BE A MASSIVE ISSUE ONE DAY, NOT
00:23:38JUST IN POLITICS, BUT IN OUR
00:23:40CIVILIZATION AND OUR CULTURE, WE
00:23:43BROUGHT ON BOARD A GUY WHO WAS A
00:23:45RIGGER AT THE TIME FOR COUNTRY
00:23:47MUSIC TOURS AND ROCK MUSICIANS.
00:23:53THAT WAS, UH, JOE ALLEN. AND WHAT DO WE DO THAT? BECAUSE I
00:23:56FELT IT WAS VERY IMPORTANT TO
00:24:01EDUCATE A WORKING CLASS AND MIDDLE CLASS AUDIENCES, WHICH
00:24:05THE WAR ROOM IS PROBABLY THE
00:24:07MOST DEDICATED OF PRESIDENT
00:24:10TRUMP'S MAGA GRASSROOTS FORCES.
00:24:12THAT THIS WOULD BE THE DEFINING
00:24:14ISSUE OF OUR TIME. AND JOE CAME
00:24:17ON IN 2021, STARTED DOING HITS
00:24:21EVERY OTHER DAY. THEN AFTER A COUPLE OF YEARS, HE WROTE A
00:24:23BOOK, DARK ALIEN. WE SENT OUT
00:24:28JOE THROUGHOUT THE COUNTRY FOR A COUPLE OF YEARS, AND THE
00:24:32FEEDBACK WAS INCREDIBLE. FROM SMALL CHURCHES, SMALL GROUPS,
00:24:35AND HE WOULD GO TO THE BIG
00:24:38CONFERENCES WITH ALL THE SENIOR
00:24:40AI PEOPLE AND TECHNOLOGISTS. BUT
00:24:43IT WAS IN THOSE SMALL CHURCHES AND IN THE RURAL COMMUNITIES AND
00:24:46IN THE SUBURBS, THAT YOU COULD
00:24:47SEE THAT PEOPLE HAD A FEAR OF
00:24:51WHAT WAS HAPPENING, FOR THE
00:24:53SIMPLE REASON. IT WAS NOT VERY
00:24:57CLEAR TO THEM WHAT WAS
00:25:00HAPPENING. THIS PAST 72 HOURS,
00:25:06OR 4 OR 5 DAYS SHOULD SHOW YOU
00:25:09WRIGHT AND EXEMPLIFY TO THOSE PEOPLE WHAT THEIR FEAR IS. WE'VE
00:25:12HAD ALL THESE, AS WE'VE SAID, FOR YEARS AND YEARS AND YEARS, ALL >> [APPLAUSE]
00:25:16>> THESE, UM, REVELATIONS ABOUT
00:25:18THE, UM, ABOUT THE LABS, ABOUT
00:25:21WHAT THEY'RE WORKING ON AND WHAT THE YOUNGEST PEOPLE THERE AND
00:25:25THEIR BEST PEOPLE, WHAT THEY'RE AFRAID OF. AND THEN ALL OF A
00:25:28SUDDEN, OUT OF NOWHERE, UH,
00:25:31FOUR, I THINK, OR FIVE OF THE
00:25:34OLIGARCHS, THEY'VE GOT OLD TIME
00:25:37RELIGION NOW. THEY THINK, YEAH, WE OUGHT TO HAVE, WE REALLY
00:25:39OUGHT TO HAVE SOME CONTROLS. A
00:25:45BALD FACED LIE. WE HAVE WORKED
00:25:49AT WAR ROOM WITH JOE ALLEN TO
00:25:51MAKE SURE THAT WHEN THEY TRY TO
00:25:54GET AI, AMNESTY LAST YEAR, TWICE, FIRST IN THE BIG, BEAUTIFUL BILL AND SECOND IN THE
00:25:58NDAA, IT WAS >> [APPLAUSE] >> DEFEATED.
00:26:02>> [APPLAUSE] >> IT WAS DEFEATED BECAUSE OF
00:26:06THE PEOPLE IN THE AUDIENCE. THIS
00:26:08WAS A GRASSROOTS EFFORT. MARSHA BLACKBURN, SENATOR BLACKBURN,
00:26:12WHO TALKED EARLIER TODAY, HER
00:26:13BILL, WE WON. WE DEFEATED THE AI
00:26:16AMNESTY 99 TO 1 IN THE MIDDLE OF
00:26:19THE NIGHT. THE ARROGANCE OF THESE INDIVIDUALS THAT THEY TOOK
00:26:23THE EXACT SAME AI AMNESTY AND JAMMED IT BACK INTO THE NDAA.
00:26:26AND GUESS WHAT? IT WAS DEFEATED.
00:26:28DIDN'T COME FOR A VOTE. IT WAS PULLED, I THINK, BY THE HOUSE
00:26:31ARMED SERVICES COMMITTEE SAID, WE'RE NOT GOING TO DEAL WITH THIS >> [APPLAUSE] >> NOW. >> [APPLAUSE]
00:26:35>> RIGHT. >> [APPLAUSE]
00:26:36>> HOW DID THAT HAPPEN? THAT WAS
00:26:39WORKING CLASS AND MIDDLE CLASS PEOPLE THAT HAD ENOUGH OF IT.
00:26:42THEY SAID, LOOK, WE REALLY
00:26:44DON'T UNDERSTAND AI. WE'RE NOT DOOMERS. WE'RE AMERICANS. WE'RE
00:26:48OPTIMISTIC. WE THINK THIS COULD BE A GREAT TECHNOLOGY, BUT WE'RE
00:26:52NOT GOING TO GIVE THESE GUYS CARTE BLANCHE. WE'RE NOT GOING TO DO IT. THERE'S BEEN NO
00:26:56DEBATE. WE DON'T UNDERSTAND IT.
00:26:58THEIR ARROGANCE IS IS
00:27:00OVERWHELMING. THEN YOU CAME BACK, AND WE'VE HAD THESE
00:27:04EXECUTIVE ORDERS. SOME GET PULLED, SOME DON'T GET PULLED.
00:27:07THEY HAVE NOT WON A POLITICAL
00:27:15VICTORY YET. WHY IS THAT? THEY'VE GOT ALL THE MONEY. THEY
00:27:18HAVE ALL THE POWER. THEY HAVE EVERY LOBBYIST IN THE CITY. THEY HAVE EVERY CRISIS.
00:27:22COMMUNICATIONS PERSON. THEY HAVE
00:27:26TONS OF SCIENTISTS AND
00:27:30INTELLECTUALS ON THE PAYROLL.
00:27:30WHY IS IT THAT THEY CAN'T WIN?
00:27:34BECAUSE THE PEOPLE DON'T TRUST
00:27:37THEM. THE PEOPLE DON'T TRUST THEM. AND THAT TRUST IS NOT
00:27:41GOING UP. IN THE LAST 72 HOURS,
00:27:44THEY'VE COME OUT AND SAID, YOU
00:27:46KNOW, YOU'RE CORRECT. WE ACTUALLY SHOULD HAVE SOME SORT
00:27:50OF FRAMEWORK. OKAY. AND, YOU
00:27:52KNOW, AND MAYBE YOU HAVE A HUMAN
00:27:56CHECKING IN ON US EVERY NOW AND
00:27:59AGAIN. THEY'VE TRIED TO COVER
00:28:02UP THE DANGER BY SAYING, IT'S A
00:28:06PSYOP, BUT USING THE PSYOP TO
00:28:08TRY TO GET OFF LIABILITIES, WHAT
00:28:13THEY WANT IS TO SOCIALIZE ALL THE RISK WITH THE AMERICAN
00:28:17PEOPLE, INCLUDING POTENTIAL
00:28:19BAILOUTS. WHEN THEY COME, AND
00:28:22THEY WANT TO KEEP ALL THE UPSIDE. SO YOU CAN BREAK THIS DOWN IN THREE COMPONENT PIECES.
00:28:26THE NATIONAL SECURITY PIECE, THE
00:28:29REGULATORY PIECE. AND WE CAN TALK ABOUT THE FINANCIAL AND THE
00:28:32ECONOMIC WHEN WE TALK ABOUT THE NATIONAL SECURITY PIECE, EVERY
00:28:36DAY, EVERY, EVERY PAPER, EVERY
00:28:39TIME THEY'RE ON TV. WHY DO WE
00:28:40HAVE TO KEEP PUSHING SO HARD? WHY IS IT RELENTLESS? WHY CAN'T
00:28:44THEY HAVE ANY CONTROLS? IF YOU'RE NOT AN ACCELERATIONIST,
00:28:48YOU'RE ANTI-AMERICAN. IF YOU'RE
00:28:51NOT AN ACCELERATIONIST, YOU'RE
00:28:55PRO CHINESE COMMUNIST PARTY. IF
00:29:00YOU'RE NOT ACCELERATIONIST, YOU'RE ALMOST A LUDDITE. YOU
00:29:02WANT TO TAKE AMERICA BACK WELL,
00:29:05LET'S THINK ABOUT THAT FOR A
00:29:07SECOND. WHO ARE THE BIGGEST SUPPORTERS OF THE CHINESE
00:29:11COMMUNIST PARTY IN THIS REGARD? WE'RE THINKING ABOUT THIS THE
00:29:14TOTALLY WRONG WAY. YES. I WOULD LIKE TO HAVE SOME INTERNATIONAL
00:29:18AGREEMENTS WITH THE CHINESE COMMUNIST PARTY. NOT THAT THEY WOULD EVER LIVE UP TO ANYTHING,
00:29:22PARTICULARLY ON SOMETHING THIS DEADLY. I THINK THERE WOULD BE
00:29:25GREAT. I ALSO THINK IT DOESN'T MATTER. IT'LL TAKE FOREVER TO
00:29:29NEGOTIATE. HERE'S WHAT WE HAVE
00:29:31TO DO. FIRST, TO SLOW DOWN THE
00:29:34PACE SO THAT WE CAN UNDERSTAND
00:29:37EXACTLY WHAT'S GOING ON, AND ALSO LET THEM UNDERSTAND THAT
00:29:41WE'RE NOT GOING TO LET YOU PUT A MOAT AROUND THIS. WE'RE NOT GOING TO LET YOU BE A CARTEL.
00:29:44WE'RE NOT GOING TO UNDERWRITE THE LIABILITIES. YOU TAKE THE
00:29:48UPSIDE. WE NEED TIME. AND THIS IS NOT LEGISLATION. THIS IS
00:29:52GOING TO HAVE TO BE EXECUTIVE
00:29:54ACTION. THE LEGISLATION IS GOING TO BE ENORMOUSLY COMPLICATED AND
00:29:58TAKE A WHILE. JUST BECAUSE THE TECHNOLOGY IS COMPLICATED AND
00:30:01THE OPPORTUNITIES ARE COMPLICATED, AND THE BOTTOMLESS
00:30:04PIT, THE ABYSS OF THE DOWNSIDE,
00:30:08IS COMPLICATED. SO WHY ARE WE LETTING THE CHINESE COMMUNIST
00:30:12PARTY DRIVE US ALL? WE HAVE TO DO THIS OR CHINA WIN. WE HAVE TO DO THIS, OR CHINA WIN. WE HAVE
00:30:15TO DO THIS, OR CHINA'S GOING TO
00:30:19WIN. WE SHOULD QUARANTINE NOW.
00:30:23EVERY ASPECT OF THE ECOSYSTEM OF
00:30:28ARTIFICIAL INTELLIGENCE, AWAY FROM THE CHINESE COMMUNIST PARTY
00:30:31TODAY, WE SHOULD CUT THEM OFF OF
00:30:33ALL IT'S THE ONLY WAY YOU'RE
00:30:36GOING TO GET YOUR HANDS AROUND
00:30:40AND ACTUALLY THINK THROUGH WITH
00:30:43ADULTS. WHAT SHOULD BE ACTUALLY THE REGULATORY APPARATUS,
00:30:47WHETHER IT'S AN ATOMIC ENERGY COMMISSION OR WHATEVER THAT
00:30:50APPARATUS IS, THAT WORKS WITH
00:30:52THESE COMPANIES TO MAKE SURE
00:30:56THAT THINGS CAN'T ESCAPE, TO MAKE SURE THAT PEOPLE KNOW
00:30:59WHAT'S GOING ON. ALSO, THE FINANCIAL AND LIABILITIES TO THE
00:31:03AMERICAN PEOPLE. WHAT DO YOU
00:31:07THINK? THE BIG NEWS OVER THE
00:31:09WEEKEND WAS NOT ANTHROPIC AND
00:31:12OPENAI. IT WAS OPEN AI IPO
00:31:18TRILLION DOLLAR IPO GOT PULLED. OH, STEVE, HOW CAN YOU SAY THAT? HE SAID HE'S JUST GOING TO
00:31:22DELAY IT. OH, I THINK WHEN YOU LOOK AT THE UNDERWRITING
00:31:25DOCUMENT AND YOU SEE IN THE RISK
00:31:27SECTION, 10% CHANCE OF
00:31:30DESTROYING HUMANITY RIGHT. WHAT
00:31:35UNDERWRITER, WHAT INVESTMENT BANK IS GOLDMAN SACHS GOING TO DO? THAT'S JP MORGAN GOING TO DO
00:31:39THAT. IS MORGAN STANLEY GOING TO DO IT? THE ANSWER IS NO. WHAT
00:31:42INSTITUTIONAL INVESTOR IS GOING
00:31:44TO INVEST IN THAT? THE
00:31:47LIABILITIES HERE ARE REAL. THE
00:31:51UNDERWRITERS ARE GOING TO TELL YOU THAT WHAT THEY'RE TRYING TO
00:31:54DO NOW WITH THIS WHOLE PHONY,
00:31:57OH, WE REALLY SHOULD HAVE SOME
00:32:00CONTROLS. ALL THEY'RE TRYING TO DO IS TO USE A CRISIS AND TURN
00:32:03IT TO THEIR ADVANTAGE, TURN IT
00:32:06TO THEIR ADVANTAGE BY CREATING A
00:32:10MOAT, A CARTEL WHERE NOT ONLY
00:32:14CAN OTHER ASPIRING COMPANIES GET IN, BUT MORE IMPORTANTLY,
00:32:18THEY'RE GOING TO HAVE A
00:32:19LIABILITY SHIFT TO THE AMERICAN
00:32:22PEOPLE A SHIFTS COMING FINANCIALLY. I'LL GET TO THAT IN
00:32:26A SECOND. LET'S GO BACK TO THE
00:32:28CHINESE. NO CHIPS, NO BLACK
00:32:31MARKET IN CHIPS, NO FREE RIDE
00:32:33OFF AMERICAN TECHNOLOGY, NO
00:32:37STEALING OF AMERICAN TECHNOLOGY. HELL, WE GOT HUAWEI IN FEDERAL COURT IN BROOKLYN RIGHT NOW FOR
00:32:41STEALING AS MUCH AS THEY CAN STEAL. WHY? WE OUGHT TO BE KICKED OUT OF THE COUNTRY. AND
00:32:44BY THE WAY, TALK TO CANADA, KICK
00:32:46THEM OUT OF THERE, TOO. WE
00:32:50SHOULD NOT TAKE ANY STUDENTS TO
00:32:52TRAIN UP AS ENGINEERS OR
00:32:55TECHNOLOGISTS. WE SHOULD TAKE ALL CHINESE NATIONALS AND GET
00:32:58THEM OUT OF THE LABS AND GET THEM BACK TO MAINLAND CHINA.
00:33:01THERE SHOULD BE NO DEBT, NO
00:33:04EQUITY, NO ACCESS TO OUR CAPITAL MARKETS. THERE SHOULD NOT BE ANY
00:33:07PENSION FUNDS OR PEOPLE THAT ARE FIDUCIARIES OF THE AMERICAN
00:33:11WORKING MAN'S MONEY. THAT SHOULD BE ALLOWED TO PUT ANY
00:33:15MONEY INTO CHINA. WE HAVE TO SHUT DOWN THE CHINESE COMMUNIST
00:33:19PARTY. WE HAVE TO PUT A
00:33:21QUARANTINE AROUND IT. IF WE DO
00:33:24THAT, AND WE CAN DO IT, AND IT'S INSANITY. INSANITY TO ME.
00:33:27WHY WE JUST KEEP GOING ON OVER THE CHINESE, THE CHINESE, THE
00:33:30CHINESE. TO HELL WITH THE
00:33:31CHINESE COMMUNIST PARTY. IT.
00:33:36IT'S UP TO NO GOOD. WE KNOW THAT THEY STEAL EVERYTHING TO GET THEIR HANDS ON. WE CAN SHUT
00:33:39IT DOWN IN 72 HOURS. AND THEN IF
00:33:42WE WANT TO MAKE A TREATY, MAKE A
00:33:44TREATY, BUT MAKE SURE THEY'RE
00:33:47NOT A PLAYER. ONCE YOU HAVE
00:33:50TIME, THEN YOU CAN START THE HARD WORK OF WHAT IS ACTUALLY
00:33:54THE REGULATORY APPARATUS. WHAT
00:33:56IS THE REGULATORY APPARATUS THAT DOES NOT CHOKE DOWN THE
00:34:00CREATIVITY, THE DRIVE, THE
00:34:03URGENCY IS IT PEOPLE IN THE
00:34:07LABS? YOU HAVE A THOUSAND QUESTIONS. THEY'RE NOT GOING TO
00:34:09BE ANSWERED IN LEGISLATION ON
00:34:12CAPITOL HILL. THIS HAS TO BE AN EXECUTIVE ACTION. IT CAN TAKE
00:34:16PLACE. YOU HAVE TO DO IT WITH THE COMPANIES. YOU SHOULD TELL
00:34:18THE COMPANIES, WE ARE DOING THIS. YOU'RE GOING TO HAVE A
00:34:22REGULATORY APPARATUS. WE DON'T
00:34:23WANT IT TO SHUT DOWN YOUR BUSINESS, BUT WE'RE JUST NOT
00:34:26GOING TO LET YOU RUN WILD THE
00:34:29NEXT PART IS TO THINK ABOUT,
00:34:35WHAT ARE WE ACTUALLY DOING? THE BUSINESS MODEL. IF YOU STEP BACK
00:34:38AND LOOK AT IT, YOU HAVE A HIGHLY LEVERAGED COUNTRY, 40
00:34:42TRILLION IN DEBT, $2 TRILLION
00:34:44EVERY YEAR. THE CROWDING OUT.
00:34:47NOW, THEN, YOU HAVE, ON TOP OF
00:34:48THAT, A BUSINESS MODEL. THAT'S
00:34:53ACCORDING TO THEM, TAKE $5 TRILLION OF EQUITY. AND THAT
00:34:57EQUITY IS ESSENTIALLY GOING TO COME FROM THE MAJORITY OF IT.
00:34:59THE PENSION FUNDS OF THE UNITED
00:35:02STATES. AND AS THEY TELL US, ANOTHER TRILLION DOLLARS IN
00:35:05DEBT, OF WHICH THE CFO AT OPENAI
00:35:08TOLD US, WELL, GOSH, I THINK WE'RE GOING TO HAVE TO HAVE SOME GOVERNMENT GUARANTEES IN
00:35:12THERE. WHAT DOES THAT MEAN,
00:35:13PEOPLE MAKING $52,000 A YEAR,
00:35:17GOING TO UNDERWRITE, ARE GOING
00:35:20TO UNDERWRITE THE OLIGARCHS. THAT IS AN ENORMOUS BET, BECAUSE
00:35:24THE BET IS PREDICATED UPON
00:35:29MASSIVE PRODUCTIVITY INCREASES,
00:35:29WITH NO JOB LOSS. NOW, DOES THAT
00:35:35MAKE SENSE? I'D LIKE SOMEONE TO PUT PEN TO PAPER AND WALK ME
00:35:38THROUGH THE MATH, BECAUSE I
00:35:43DON'T UNDERSTAND IT. AND
00:35:45HERE'S WHAT'S GOING TO HAPPEN
00:35:48THEY'RE TEEING IT UP, AND IT'S
00:35:51QUITE OBVIOUS. UP TO SOCIALIZE
00:35:56THE RISK AMONG THE AMERICAN
00:35:57PEOPLE, BOTH IN LIABILITIES AND
00:36:01ON THE FINANCIAL AND THE DEBT
00:36:03SIDE, SOME OF THESE COMPANIES
00:36:06ARE COME FOR BAILOUTS. THERE'S ALREADY A GOOD SET OF ANALYSIS
00:36:09SAYS RIGHT NOW, AI ITSELF IS NOT
00:36:14THAT PROFITABLE, AT LEAST AS IT IS RIGHT NOW. THERE'S A GOOD
00:36:18ARGUMENT OUT THERE THAT, HEY, THIS BUSINESS MODEL THAT
00:36:21EVERYBODY'S RUNNING INTO BECAUSE THE STOCKS ARE ON FIRE,
00:36:24DOESN'T ACTUALLY MAKE SENSE.
00:36:27WHEN THAT HAPPENS, IT HAS TO BE THE UNDERWRITERS PROBLEM, THE
00:36:31BANKS PROBLEM, THE EXECUTIVES
00:36:34PROBLEM, THE EMPLOYEES PROBLEM, NOT THE AMERICAN >> [APPLAUSE]
00:36:37>> PEOPLE
00:36:38>> [APPLAUSE]
00:36:47>> I THINK SENATOR SANDERS DID A VERY GOOD JOB OF SUMMARIZING THE
00:36:49RISK. OBVIOUSLY, HE AND I HAVE A
00:36:53QUITE DIFFERENT OPINION OF THE PRESIDENT OF UNITED STATES, BUT
00:36:56WE'RE TRYING TO RAISE ABOVE PARTIZANSHIP, AND WE HAVE TO, >> [APPLAUSE]
00:37:00>> BECAUSE THIS IS A UNIQUE.
00:37:02>> [APPLAUSE]
00:37:06>> WHAT I LOVE ABOUT MAKS, WHEN
00:37:09I MET HIM A COUPLE OF YEARS AGO,
00:37:10I DON'T THINK YOU COULD FIND
00:37:16ANY TWO HARDER PARTIZANS THAN BERNIE SANDERS ON THE LEFT AND STEVE BANNON ON THE RIGHT. AND I
00:37:20THINK THAT SPEAKS TO NOT JUST
00:37:22MAKS, BUT TO. THE THREAT IS WE HAVE TO RISE ABOVE IT. THIS IS A
00:37:25HINGE IN HISTORY. WE HAVE TO
00:37:28HANDLE THIS. RIGHT CORRECTLY TO
00:37:31HANDLE IT CORRECTLY. NUMBER ONE, WE CAN NEVER TRUST WHAT OLIGARCH
00:37:35SAYS, BECAUSE ALL THEY DO,
00:37:37THEY'RE DISINGENUOUS AND THEY LIE. THIS >> [APPLAUSE]
00:37:40>> HAS TO BE THE AMERICAN PEOPLE. YOU CANNOT BE A
00:37:43SUPPLICANT. WE'RE NOT GOING TO BE SUPPLICANTS ANYMORE. THE
00:37:46AMERICAN PEOPLE ARE GOING TO
00:37:50DRIVE THIS AS THEY DROVE THE REVOLUTION. WE'RE IN THE 250th
00:37:53YEAR, I THINK 250 YEARS AGO, WE WERE GETTING KICKED OUT OF
00:37:56MANHATTAN, RIGHT? RETREAT AFTER RETREAT, AFTER RETREAT. AND WE
00:37:59WON. YOU KNOW WHY WE WON? WE
00:38:03DIDN'T GIVE UP. THAT'S YOUR LEGACY. THE COMMON SENSE OF THE
00:38:06AMERICAN PEOPLE HAVE ALWAYS MADE THE RIGHT DECISION. THE
00:38:10REVOLUTION, THE CIVIL WAR, THE GREAT DEPRESSION OF WORLD WAR
00:38:12TWO. THIS IS THE GREAT FOURTH TURNING. AND THIS IS THE ISSUE
00:38:16BEFORE US. AND THEY WANT YOU TO BE DUMB ABOUT IT. THEY WANT YOU
00:38:19TO BE AFRAID OF IT. WE'RE NOT GOING TO BE AFRAID. WE'RE GOING
00:38:23TO TAKE THIS ON. PEOPLE IN THE
00:38:25WAR ROOM ARE NOT AFRAID. WHEN
00:38:27THEY SHUT DOWN, THEY SHUT DOWN
00:38:30AI, AMNESTY IN JULY. AND THE BIG, BEAUTIFUL BILL, AND THEN
00:38:33LATER TO MAKE THE CALLS, MAKE
00:38:37THE EMAILS GO TO THE OFFICE. SO
00:38:40THEY CAN BE DEFEATED BUT NOW WE
00:38:43HAVE TO THINK THROUGH, AS
00:38:46CITIZENS, WHAT EXACTLY IS THE
00:38:48OPTIMUM FRAMEWORK AND WHAT
00:38:51REALLY ARE THE ECONOMICS
00:38:53ASSOCIATED WITH THIS, AND WHO, HOW DO WE CARVE UP THE
00:38:57ECONOMICS? NOT FOR THE
00:38:59GOVERNMENT, BUT THE AMERICAN
00:39:03PEOPLE ARE THE FULL FAITH AND
00:39:05CREDIT OF THE STATES GOVERNMENT,
00:39:08THE AMERICAN CITIZENS SOMEHOW
00:39:13NEED TO PARTICIPATE IN THE UPSIDE, NOT THE GOVERNMENT.
00:39:16AMERICAN CITIZENS. HOW DO WE GET
00:39:20THAT TIME? WE GET THAT TIME BY
00:39:23FOCUSING ON STOPPING WHAT HAS
00:39:27BEEN DRIVING ALL THESE DECISIONS. YOU CAN'T STOP. YOU GOT TO BE ACCELERATIONIST IF
00:39:30YOU'RE NOT ACCELERATIONIST, YOU ARE SUPPORTING CHINA. IF YOU'RE
00:39:33NOT ACCELERATIONIST, YOU WANT AMERICA TO LOSE. IF YOU'RE NOT
00:39:36AN ACCELERATIONIST, YOU'RE BAD,
00:39:39DUMB, AND EVIL. WELL, THE LAST
00:39:43WEEK HAS SHOWN WE'RE NONE OF
00:39:45THAT. AND NOW WE NEED THE TIME
00:39:48TO MAKE THE RIGHT DECISION. THE
00:39:50TIME TO DO THAT IS NOT TO
00:39:54UNDERWRITE OUR COMPETITOR IN THE COLD WAR. AS I SAID, THIS IS A
00:39:56COLD WAR MOMENT. THIS IS LIKE THE NUCLEAR AGE. THIS IS LIKE >> [APPLAUSE]
00:40:00>> RUSSIA AND THE UNITED STATES THAT OUR FATHERS AND
00:40:04GRANDFATHERS, THAT THEY UNDERWRITE THE SOVIET UNION,
00:40:06THAT THEY TRAINED THE SOVIET
00:40:08UNION SCIENTISTS, THAT THEY TAKE RUSSIAN KIDS OVER HERE IN THE
00:40:11COLLEGE TO LET THEM GO TO THE BEST UNIVERSITIES, GET THE BEST
00:40:15DEGREE THAT THEY HAVE, WALL
00:40:17STREET SLOBBERING TO DO THEIR
00:40:20DEALS. THE DAY OF EVERY BANK THERE TO LEND THEM MONEY,
00:40:23QUICKER TO LEND ANYONE IN THIS
00:40:26AUDIENCE. THE ANSWER IS, THEY
00:40:28DID NOT. THEY STOOD UP TO THE
00:40:32SOVIET UNION. AND THE FIRST THING IN STANDING UP TO HIM WAS
00:40:34TO CHOKE THEM OFF. AND THAT'S
00:40:37WHAT WE HAVE TO DO TODAY TO THE
00:40:40CHINESE COMMUNIST PARTY. NO DEALS, NO AGREEMENTS. YOU'RE OUT
00:40:44OF THE AI BUSINESS BECAUSE WE'RE
00:40:46GOING TO SHUT YOUR ECOSYSTEM
00:40:52DOWN WE GOT A LOT OF WORK AHEAD.
00:40:55BUT YOU KNOW WHAT? JUST LIKE 250
00:40:59YEARS AGO, AND NOW I THINK WE'RE
00:41:01IN THE SECOND MONTH OF GETTING
00:41:04OUR KICKED EVERY DAY. THE REVOLUTIONARY ARMY. I'D LIKE OUR
00:41:07SIDE OF THE FOOTBALL. I'D LIKE THE PEOPLE IN THIS ROOM. AND
00:41:11GUESS WHAT? WE CAN WIN. WE'RE
00:41:14GOING TO WIN. AND MOST
00:41:17IMPORTANTLY, WE HAVE TO WIN. >> [APPLAUSE]
00:41:19>> THANK YOU
00:41:27>> OUR CAMPAIGN, 2026 COVERAGE CONTINUES WITH REPUBLICAN TEXAS
00:41:31ATTORNEY GENERAL KEN PAXTON SPEAKING TO VOTERS IN BEAUMONT,
00:41:34TEXAS, IN HIS CAMPAIGN FOR THE U.S. SENATE, HE TALKED ABOUT THE
00:41:38IMPACT OF THE FIRST EVER REPUBLICAN MID-TERM CONVENTION
00:41:42BEING HELD IN DALLAS, AND SAID IT WAS PROOF THAT TEXAS.
00:41:46>> THIS AFTERNOON, FORMER SPEAKER OF THE HOUSE KEVIN
00:41:49MCCARTHY WILL HAVE HIS OFFICIAL PORTRAIT UNVEILED IN STATUARY
00:41:52HALL OF THE CAPITOL BUILDING, WITH REMARKS BY CURRENT SPEAKER
00:41:55MIKE JOHNSON, FORMER DEMOCRATIC
00:41:57LEADER STENY HOYER AND OTHERS ON THE TENURE OF THE 55th SPEAKER
00:42:01OF THE U.S. HOUSE. WATCH THE
00:42:02UNVEILING LIVE AT 3 P.M. EASTERN
00:42:05ON C-SPAN. THREE C-SPAN NOW, OUR
00:42:07FREE MOBILE APP AND ONLINE AT
00:42:11C-SPAN.ORG
00:42:16>> ALL RIGHT, HERE TO TALK ABOUT THE CONVERSATION OF THE MORNING
00:42:19AI AND SLOWING DOWN, PERHAPS THE EXPANSION IS HUMAN. FIRST CHAIR,
00:42:22AMY CRAMER, THANK YOU SO MUCH FOR BEING WITH US THIS MORNING.
00:42:25>> THANK YOU FOR HAVING ME. I'M EXCITED TO BE HERE. >> ALL RIGHT. WELL, WE'LL GET TO QUESTIONS IN A LITTLE BIT.
00:42:29BUT FIRST, I WANT TO ASK YOU ABOUT HOW YOU GOT TO THIS PLACE.
00:42:31LAST NIGHT. I READ THIS ARTICLE FROM THE WASHINGTON POST, A
00:42:34GREAT ARTICLE THAT TALKED ABOUT YOUR NEW EFFORT OVER THE SUMMER.
00:42:38THE HEADLINE IS, IS SHE SAYS THE 2020 ELECTION WAS STOLEN, BUT
00:42:41SEES A NEW THREAT IN TECH
00:42:43BILLIONAIRES POWER. IT GOES ON
00:42:46TO SAY THAT IN THE HOURS BEFORE A VIOLENT MOB DESCENDED ON THE
00:42:49U.S. CAPITOL, AMY CRAMER LED A RALLY NEAR THE WHITE HOUSE
00:42:52CALLING ON CONGRESS TO OVERTURN PRESIDENT DONALD TRUMP'S DEFEAT
00:42:55IN THE 2020 ELECTION. FIVE YEARS LATER, CRAMER STILL SAYS THE
00:42:58ELECTION WAS STOLEN, BUT THESE DAYS, SHE HAS A NEW TARGET
00:43:02ARTIFICIAL INTELLIGENCE COMPANIES. SO TELL US HOW YOU
00:43:04GOT HERE. >> WELL, I GOT HERE BY PAYING
00:43:08ATTENTION TO WHAT WAS GOING ON.
00:43:10AND I SAW BACK IN THE FALL OF
00:43:132024, THESE DATA CENTER FIGHTS POPPING UP ACROSS THE COUNTRY.
00:43:17EVERYBODY KEPT SAYING, THESE ARE LOCAL ISSUES, AND THERE WAS SOMETHING ABOUT IT THAT REMINDED
00:43:20ME OF THE TEA PARTY MOVEMENT
00:43:24BACK IN AUGUST OF 2009, WHEN MEMBERS OF CONGRESS WERE HAVING THEIR TOWN HALLS, AND PEOPLE
00:43:27WERE VERY UPSET AND ANGRY. AND
00:43:30IT CONTINUED TO GROW. UM, PEOPLE THOUGHT IT WAS GOING TO GO AWAY.
00:43:34AND IT HAS NOT. IT IS THERE EVERYWHERE NOW. AND IT'S
00:43:38SOMETHING THAT THE AMERICAN PEOPLE ARE VERY CONCERNED ABOUT. AND THEN WHEN I CONNECTED DATA
00:43:41CENTERS TO AI AND LEARNED WHAT
00:43:43WAS HAPPENING TO CHILDREN AND
00:43:46THE MANIPULATION BY CHAT BOTS
00:43:47AND CHILDREN TAKING THEIR OWN LIVES AND HARMING THEMSELVES,
00:43:51UM, THAT'S WHEN I WAS LIKE, AS A MOM, IT IS SOMETHING THAT IS
00:43:55VERY CONCERNING TO ME. OUR, OUR CHILDREN ARE THE MOST VULNERABLE
00:43:58AND WE NEED TO STAND UP AND FIGHT FOR THEM. AND SO THAT'S
00:44:02HOW I GOT HERE. >> WHO DO YOU WORK WITH. >> AT HUMAN FIRST?
00:44:05>> I WORK WITH A NUMBER OF
00:44:06CONSERVATIVES. UM, AND WE ARE
00:44:10ALL IN ON THIS FIGHT. THESE ARE PEOPLE THAT I'VE WORKED WITH IN
00:44:12THE TEA PARTY MOVEMENT, AND I'M
00:44:15EXCITED TO BE HERE WITH THEM.
00:44:18>> OUTSIDE OF, UM, YOU KNOW,
00:44:20KIND OF THE PUTTING TWO TOGETHER BETWEEN THE DATA CENTERS AND THE
00:44:24AI. I MEAN, WHAT ARE YOUR, WHAT
00:44:26DO YOU HAVE ANY ADDITIONAL CONCERNS ABOUT THE ROLE OF AI,
00:44:30PARTICULARLY AFTER WE'VE HEARD IN THE LAST FEW WEEKS, TECH
00:44:33COMPANIES, OWN OWNERS CALLING FOR MORE REGULATION, TALKING
00:44:36ABOUT THE END OF HUMANITY. >> SO THIS IS NOTHING NEW TO, TO
00:44:40ME, I THINK THE STORY IS THAT IT'S ACTUALLY OUT.
00:44:44>> THE SENATE HAS BEEN IN RECESS, BUT IS NOW GAVELING BACK
00:44:47INTO SESSION. WE TAKE YOU THERE,
00:44:49LIVE HERE ON C-SPAN, TWO.
00:44:51>> COLLEAGUES, EFFORTS TO JAM THROUGH THE CLARITY ACT. I
00:44:55BELIEVE WE CAN GET CRYPTO
00:44:57LEGISLATION THAT BOTH REPUBLICANS AND DEMOCRATS CAN
00:45:01AGREE ON, BUT NOT THIS BILL.
00:45:03THIS BILL POSES A MASSIVE RISK
00:45:06TO FAMILIES, TO OUR ECONOMY, AND
00:45:10TO OUR NATIONAL SECURITY. WE
00:45:13NEED CRYPTO LEGISLATION THAT STOPS POLITICAL SELF-DEALING.
00:45:17AND I KNOW THAT MANY IN THE
00:45:18CRYPTO INDUSTRY AGREE WITH THAT.
00:45:21BUT THIS BILL WOULD TURBOCHARGE
00:45:24DONALD TRUMP'S UNPRECEDENTED CORRUPTION. DONALD TRUMP'S
00:45:28PRIMARY CAMPAIGN PROMISE WAS
00:45:30THAT HE WOULD LOWER PRICES BEGINNING ON DAY ONE. HIS
00:45:34PROMISE, HIS WORDS, INSTEAD,
00:45:38TRUMP'S TARIFFS, TRUMP'S FOREVER WAR, HALFWAY AROUND THE WORLD,
00:45:42TRUMP'S HEALTH CARE CUTS, TRUMP'S CLOSING, CHEAPER CLEAN
00:45:46ENERGY, TRUMP POLICIES ARE
00:45:48BOOSTING THE COSTS OF EVERYTHING
00:45:51FROM GROCERIES TO GAS, TO HEALTH
00:45:54CARE TO UTILITIES. THEY ARE ALL
00:45:56GOING UP, UP, UP. AND WHILE
00:46:00DONALD TRUMP IS RAISING COSTS
00:46:01FOR WORKING PEOPLE, TRUMP IS
00:46:04ALSO USING THE PRESIDENCY TO
00:46:06MAKE HIMSELF RICHER. AND HE'S
00:46:09ADDED CRYPTO TO HIS WAYS TO CASH
00:46:12IN INSTEAD OF DOUBLING DOWN ON
00:46:17EFFORTS TO PROSECUTE CRYPTO SCAMS AND TO BLOCK TERRORISTS
00:46:20AND DRUG TRAFFICKERS FROM USING
00:46:23CRYPTO, DONALD TRUMP HAS USED
00:46:25HIS OFFICE TO PROMOTE CRYPTO.
00:46:28HE'S TALKED UP CRYPTO. HE'S
00:46:30HELD A CRYPTO CONTEST, WITH THE PRIZE BEING DINNER WITH THE
00:46:33PRESIDENT. AND HE IS APPOINTED
00:46:36CRYPTO FRIENDLY REGULATORS. AND
00:46:38THE MONEY HAS JUST ROLLED IN FOR
00:46:42HIM. SHORTLY BEFORE HE WAS SWORN
00:46:44IN AS PRESIDENT, THE SECOND TIME
00:46:46TRUMP OPENED HIS OWN CRYPTO
00:46:49BUSINESS. AND BOY, WHAT A LAUNCH
00:46:51THAT MAN HAD AS HE TALKED UP
00:46:55CRYPTO. THE MONEY JUST KEPT
00:46:58ROLLING IN. IN 2025 ALONE, TRUMP
00:47:02AND HIS FAMILY RAKED IN $1.4
00:47:05BILLION FROM THEIR CRYPTO
00:47:07VENTURES. IN FACT, DONALD TRUMP
00:47:10MADE MORE FROM CRYPTO LAST YEAR
00:47:15THAN ANY PUBLICLY TRADED CRYPTO
00:47:18COMPANY IN AMERICA. THERE IS NO
00:47:20ONE WHO HAS MORE TO GAIN
00:47:22PERSONALLY FROM THIS BILL THAN
00:47:25THE PRESIDENT OF THE UNITED
00:47:27STATES. OKAY, SO TRUMP WON BIG
00:47:30TIME ON CRYPTO, WHO LOST THE
00:47:35WORKING PEOPLE, WHO FOLLOWED
00:47:37THEIR LEADER, PEOPLE WHO BOUGHT
00:47:39INTO TRUMP'S CRYPTO VENTURES HAVE LOST BILLIONS OF DOLLARS.
00:47:43FOR EXAMPLE, THE FANS WHO BOUGHT
00:47:47TRUMP'S MEME COINS HAVE LOST
00:47:49NEARLY $4 BILLION. AND TRUMP
00:47:52JUST KEEPS PUMPING. THE CRYPTO
00:47:54INDUSTRY. HE HAS DISBANDED THE
00:47:57DOJ'S CRYPTO ENFORCEMENT TEAM.
00:47:59HE HAS DROPPED CRYPTO
00:48:01ENFORCEMENT ACTIONS AGAINST COMPANIES THAT DONATED MILLIONS
00:48:04OF DOLLARS TO HIS CAMPAIGN. AND
00:48:07HE HAS GIVEN MULTIPLE
00:48:10PRESIDENTIAL PARDONS FOR CRYPTO
00:48:13EXECUTIVES CONVICTED OF SERIOUS
00:48:15CRIMES. TRUMP'S CORRUPTION IS SO
00:48:18EXTENSIVE THAT HE HAS INFECTED
00:48:23CRYPTO'S ENTIRE FINANCIAL,
00:48:26REGULATORY FRAMEWORK. NOW,
00:48:28REPUBLICANS ARE NOT ONLY TURNING A BLIND EYE TO TRUMP'S
00:48:31CORRUPTION, NOW, THEY WANT TO
00:48:33VOTE TODAY TO BOOST THAT
00:48:36CORRUPTION LATE ON SUNDAY NIGHT,
00:48:41THE REPUBLICANS RELEASED A NEW ETHICS PROVISION THAT THE
00:48:44REPUBLICANS NEGOTIATED WITH THE
00:48:45WHITE HOUSE. THEY READ EXACTLY
00:48:49LIKE WHAT THE MOST CORRUPT
00:48:51PRESIDENT IN OUR HISTORY WOULD
00:48:53BLESS. A TINY LITTLE FIG LEAF
00:48:57THAT CLAIMS THEY'RE DOING SOMETHING ABOUT CORRUPTION. BUT
00:49:00THAT IS CAREFULLY WRITTEN TO
00:49:02MAKE SURE THAT IT WILL NOT PREVENT DONALD TRUMP FROM MAKING
00:49:06HIS NEXT $1.4 BILLION IN CRYPTO
00:49:12PROFITS. FIRST, THE NEW TEXT
00:49:15GUARANTEES THAT DONALD TRUMP WILL NEVER, EVER BE HELD
00:49:18ACCOUNTABLE UNDER THE LAW. WHY?
00:49:21BECAUSE TRUMP'S LAPDOGS WOULD
00:49:24HAVE THE POWER TO SHUT DOWN ANY
00:49:27ENFORCEMENT OF THE ETHICS
00:49:29PROVISIONS AGAINST DONALD TRUMP,
00:49:31THE TEXT SAYS. THE ATTORNEY GENERAL, YOU KNOW, THAT IS THE
00:49:34GUY WHO, AT HIS CONFIRMATION
00:49:37HEARING, SAID, QUOTE, I AM
00:49:40TRUMP'S LAWYER, NOT AMERICA'S
00:49:43LAWYER. TRUMP'S LAWYER. THIS IS THE GUY WHO WOULD DECIDE WHETHER
00:49:46TO BRING AN ENFORCEMENT ACTION
00:49:49AGAINST THE PRESIDENT. THE BILL WOULD NOT ALLOW STATE ATTORNEYS
00:49:52GENERAL TO BRING ANY ENFORCEMENT
00:49:55ACTIONS AGAINST THE PRESIDENT. ALL THEY COULD DO IS TRY TO SUE
00:50:00TRUMP'S FORMER PERSONAL LAWYER, THE ATTORNEY GENERAL, TO DO
00:50:04SOMETHING ABOUT IT. AND HERE'S
00:50:07THE KICKER. NOBODY THINKS THAT THE ATTORNEY GENERAL IS GOING TO
00:50:11BRING AN ACTION AGAINST DONALD
00:50:14TRUMP. BUT THIS BILL HAS BELT
00:50:16AND SUSPENDERS BUILT RIGHT IN TO
00:50:19ENSURE THAT DONALD TRUMP'S MONEY MAKING SCHEMES. JUST KEEP RIGHT
00:50:23ON ROLLING. THE BILL SAYS THAT
00:50:27TRUMP'S HAND-PICKED CRONIES AT
00:50:29HIS OFFICE OF GOVERNMENT ETHICS
00:50:32CAN WAVE A MAGIC WAND BY ISSUING
00:50:36A LEGAL OPINION. AND THEN, AS IF
00:50:37BY MAGIC, DONALD TRUMP WOULD
00:50:41SUDDENLY BE PROTECTED FROM ANY
00:50:44ENFORCEMENT AT ALL AGAINST HIS
00:50:46NEXT ROUND OF CRYPTO CORRUPTION,
00:50:49AN ETHICS RESTRICTION THAT THE
00:50:52PRESIDENT HIMSELF CAN HAVE
00:50:58COMPLETELY WAIVED IS NOT AN ETHICS RESTRICTION. NOW, SECOND,
00:51:01EVEN IF THESE PROVISIONS WERE
00:51:04ENFORCEABLE, THERE ARE MASSIVE LOOPHOLES IN THEM THAT WOULD
00:51:08ALLOW TRUMP TO CONTINUE JUICING
00:51:10HIS CRYPTO EMPIRE. UNDER THE NEW
00:51:14TEXT, TRUMP WOULD BE ALLOWED TO
00:51:16CONTINUE MAKING HUNDREDS OF
00:51:19MILLIONS OF DOLLARS FROM HIS CRYPTO VENTURES, INCLUDING WORLD
00:51:23LIBERTY FINANCIAL AND HIS MEME
00:51:25COIN. NOT ONLY WOULD TRUMP
00:51:28EASILY BE ABLE TO KEEP OR
00:51:30RESTRUCTURE HIS EXISTING CRYPTO
00:51:32VENTURES, HE WOULD ALSO BE ABLE
00:51:37TO CREATE NEW ONES. EXTRA CORRUPTION, FOR EXAMPLE, THIS
00:51:40NEW TEXT DOES NOTHING TO STOP
00:51:43DONALD TRUMP FROM BECOMING THE
00:51:45FIRST PRESIDENT IN AMERICAN
00:51:47HISTORY TO OWN AND REGULATE HIS
00:51:50OWN BANK. AND LASTLY, TRUMP
00:51:52COULD JUST PUT HIS HOLDINGS IN A
00:51:55BLIND TRUST, IN NAME ONLY, WHILE
00:51:58STILL KNOWING EXACTLY WHAT ASSETS ARE THERE AND STILL IN
00:52:02CHARGE OF THE REGULATORS WHO CAN
00:52:04JUICE THE VALUE OF DONALD
00:52:07TRUMP'S CRYPTO INVESTMENTS.
00:52:09TRUMP HAS ALREADY MADE $1.4
00:52:11BILLION IN 2025 ALONE. AS A
00:52:16CRYPTO WHEELER DEALER, AND THE BILL THAT THE REPUBLICANS WANT
00:52:20TO VOTE ON TODAY WOULD MAKE SURE
00:52:22THAT HE CAN JUST KEEP RAKING IN
00:52:25THE DOUGH IT'S NOT JUST THE
00:52:28ETHICS PROVISIONS THAT ARE TERRIBLE. THIS BILL WOULD MAKE
00:52:32IT EASIER FOR TERRORIST
00:52:35ORGANIZATIONS, FOR DRUG CARTELS,
00:52:38AND FOR ROGUE STATES TO BUY AND SELL WEAPONS AND PAY OFF
00:52:41GOVERNMENT OFFICIALS, ALL USING
00:52:45CRYPTO. EASIER FOR TERRORISTS TO
00:52:47FINANCE THEIR OPERATIONS, AND
00:52:49HARDER FOR LAW ENFORCEMENT TO
00:52:51CATCH THEM, EASIER FOR SCAMMERS
00:52:54TO CHEAT AMERICANS, AND HARDER
00:52:57FOR LAW ENFORCEMENT TO CATCH
00:53:00THEM. EASIER FOR IRAN AND NORTH
00:53:02KOREA TO EVADE SANCTIONS, AND
00:53:05HARDER FOR LAW ENFORCEMENT TO
00:53:08CATCH THEM. THIS BILL WOULD PUT
00:53:11US ALL AT RISK OF A CRYPTO
00:53:15FUELED ECONOMIC CRASH. THE
00:53:18CRYPTO BILL HAS BECOME A
00:53:20CHRISTMAS TREE WITH GIFTS FOR OTHER HIGH RISK SCAMMERS. THE
00:53:24BILL, FOR EXAMPLE, WOULD BLOW A
00:53:27MASSIVE HOLE IN OUR NEARLY
00:53:31CENTURY OLD SECURITIES LAWS BY ALLOWING AND ENCOURAGING COMPANIES THAT HAVE NOTHING TO
00:53:35DO WITH CRYPTO TO THROW THEIR
00:53:38ASSETS ON A BLOCKCHAIN TO ESCAPE
00:53:42THE INVESTOR PROTECTIONS THAT APPLY TO TRADITIONAL SECURITIES
00:53:45LIKE STOCKS. THE STOCK MARKET
00:53:48NOW THAT COULD DRAIN BILLIONS OF DOLLARS OUT OF OUR STOCK MARKET
00:53:52THAT FAMILIES DEPEND ON TO FUND
00:53:56THEIR RETIREMENT SAVINGS. AND IT COULD DECIMATE THE GUARDRAILS
00:53:59THAT WERE PUT IN PLACE AFTER THE
00:54:00GREAT DEPRESSION. IN FACT,
00:54:04UNIONS ARE OPPOSED TO THIS BILL, SPECIFICALLY BECAUSE THEY SEE IT
00:54:09AS PUTTING WORKERS HARD EARNED
00:54:11PENSIONS AT RISK. AND REALLY, YOU SHOULD JUST ASK YOURSELF,
00:54:15WHAT DOES THIS HAVE TO DO WITH
00:54:19CRYPTO? WHY ARE WE PUTTING
00:54:23PROVISIONS IN PLACE TO BLOW UP
00:54:25PROTECTIONS ON THE STOCK MARKET?
00:54:27BECAUSE A HANDFUL OF CRYPTO BROS
00:54:32WANTED THIS BILL WOULD GIVE
00:54:34BANKS A GREEN LIGHT TO USE.
00:54:36AMERICANS BANKING DEPOSITS TO
00:54:39ENGAGE IN A BRAND NEW LIST OF
00:54:41RISKY CRYPTO ACTIVITIES, LENDING
00:54:43AGAINST CRYPTO AS COLLATERAL,
00:54:47BUYING CRYPTO DIRECTLY TRADING
00:54:50CRYPTO DERIVATIVES, OPERATING
00:54:53BLOCKCHAIN NODES, SELLING CRYPTO
00:54:55SOFTWARE, THE LIST GOES ON AND ON. THINK ABOUT HOW THE PRICE OF
00:54:59CRYPTO SHOT UP AND DOWN AND UP
00:55:02AND DOWN IN JUST THE LAST COUPLE
00:55:04OF YEARS ALONE. AND THEN IMAGINE
00:55:07WHAT HAPPENS WHEN THE BIGGEST
00:55:10BANKS IN AMERICA USE THE MONEY
00:55:13IN YOUR SAVINGS ACCOUNT TO LOAD
00:55:14UP ON THAT KIND OF CRYPTO. THE
00:55:21BILL ALSO BLOCKS STATES AND TRIBAL NATIONS FROM ENFORCING
00:55:22THEIR OWN LAWS ON THE BOOKS TO
00:55:25PROTECT THEIR CITIZENS FROM GETTING SCAMMED. THE PRESIDENT
00:55:29OF THE INDIAN GAMING ASSOCIATION
00:55:32CALLS THIS BILL, QUOTE, THE
00:55:39GREATEST THREAT TO TRIBAL SOVEREIGNTY IN A GENERATION. THIS IS NOT WHAT THE AMERICAN
00:55:43PEOPLE WANT. THEY WANT CONGRESS TO DO SOMETHING ABOUT THE
00:55:45AFFORDABILITY CRISIS. THEY WANT
00:55:47AN END TO TRUMP'S WAR IN IRAN.
00:55:51THEY WANT THEIR ELECTED LEADERS
00:55:53TO STEP UP AND REGULATE AI.
00:55:56ACCORDING TO A SURVEY BY CRYPTO
00:55:59NEWS OUTLET COINDESK. JUST 1% OF
00:56:04RESPONDENTS RANKED CRYPTO AS THEIR TOP CONCERN, ANOTHER POLL
00:56:08FOUND THAT IF THERE'S ANYTHING THAT VOTERS WANT TO DO ON
00:56:11CRYPTO, IT'S TO PUT IN PLACE
00:56:14MEANINGFUL ANTI-FRAUD AND
00:56:17ANTI-CORRUPTION MEASURES. THAT'S THE KIND OF THING THIS
00:56:20BILL GLARINGLY FAILS TO DO. SO
00:56:24YOU'VE GOT TO ASK YOURSELVES,
00:56:26WHY ARE WE HERE? WE NEED CRYPTO
00:56:29REGULATION. YES, WE DO, BUT WE
00:56:32DO NOT NEED A CRYPTO BILL
00:56:33WRITTEN BY THE CRYPTO INDUSTRY
00:56:36TO BENEFIT ONLY THE MOST EXTREME
00:56:39VOICES IN THE CRYPTO INDUSTRY.
00:56:41AND AT THE EXPENSE OF OUR
00:56:44NATIONAL SECURITY, OUR ECONOMIC
00:56:47STABILITY, AND TO HELP THE MOST
00:56:51CORRUPT PRESIDENT IN THE HISTORY
00:56:53OF THE UNITED STATES, MAKE
00:56:58HIMSELF EVEN RICHER. I URGE MY REPUBLICAN COLLEAGUES TO COME TO
00:57:01THE TABLE, NEGOTIATE A REAL
00:57:03BIPARTISAN CRYPTO BILL. BUT
00:57:05UNTIL THEN, I URGE MY COLLEAGUES
00:57:08TO VOTE NO. MR. PRESIDENT, I
00:57:13YIELD THE FLOOR.
00:58:30>> SO LET ME COMMENT ON AI AND
00:58:32TRUMP'S COMMENTS ON THAT. SO THE AMERICAN PEOPLE KEEP CALLING
00:58:36ON THEIR GOVERNMENT TO ACT ON
00:58:38AI, WHICH EVEN ITS CREATORS ARE
00:58:41SAYING IS INCREASINGLY DANGEROUS. BUT DONALD TRUMP
00:58:44COULDN'T CARE LESS. TRUMP SAYS
00:58:46THAT HE HAS THIS ISSUE COVERED.
00:58:50THAT, QUOTE, THE ONLY CONTROL OR GUARDRAILS THAT AI NEEDS IS A
00:58:53STRONG AND SMART, HIGH IQ
00:58:56PRESIDENT. WELL, WE DON'T HAVE
00:58:58ONE, SO LET'S DO SOMETHING.
00:59:00SENATORS, WE KNOW TRUMP IS NOT GOING TO STEP UP TO THE PLATE
00:59:04HERE. HE PUTS HIS HEAD IN THE SAND. HE SAYS THERE'S NO
00:59:07PROBLEM. WHEN EVERY EXPERT SAYS THERE'S A DRAMATIC AND
00:59:10DANGEROUS PROBLEM THAT WE SHOULD
00:59:13DEAL WITH A HIGH IQ PRESIDENT
00:59:15WOULDN'T CALL AMERICANS
00:59:18WELL-FOUNDED. AI CONCERNS A HOAX
00:59:20OR A SICK CONSPIRACY. THOSE
00:59:24AREN'T THE WORDS OF SOMEONE WITH
00:59:26A HIGH IQ. DONALD TRUMP, THE
00:59:29ONLY THING THAT IS SICK IS
00:59:31TRUMP'S INDIFFERENCE TO THE
00:59:34CONCERNS. LEGITIMATE, VALID, STRONG CONCERNS OF THE AMERICAN
00:59:38PEOPLE. AND THIS IS WHAT TRUMP ALWAYS DOES. AMERICANS VOICE
00:59:42THEIR CONCERNS ABOUT A PRESSING ISSUE. TRUMP DISMISSES THEM OUT
00:59:44OF HAND. AMERICA'S AMERICANS
00:59:47EXPRESS THEIR OUTRAGE ABOUT SKYROCKETING COSTS FROM TRUMP'S
00:59:50FAILED AGENDA. TRUMP CALLS
00:59:52AFFORDABILITY, QUOTE, A MADE UP
00:59:55WORD. FAMILIES SAY THEY'RE GETTING CRUSHED AT THE GAS PUMP
00:59:59BECAUSE OF TRUMP'S WAR IN IRAN. THE PRESIDENT CALLS SOARING FUEL
01:00:03PRICES FAKE. EVEN THERE. THEY'RE
01:00:04ABOVE $4.30 A GALLON. AGAIN.
01:00:08WHERE'S YOUR IQ, MR. PRESIDENT? WHERE'S YOUR PERCEPTION OF THE
01:00:11WORLD I DON'T KNOW IF IT'S
01:00:14DELUSION OR DECEPTION, BUT IT DOESN'T MATTER. TRUMP IS
01:00:17COMPLETELY OUT OF TOUCH WITH THE AMERICAN PEOPLE. AND TRUMP IS
01:00:21DEAD WRONG ABOUT AI. WE DON'T
01:00:23EVEN KNOW HOW THE ADMINISTRATION
01:00:25IS TESTING THE SAFETY OF THESE POWERFUL MODELS BEFORE THEY ARE
01:00:29RELEASED TO THE PUBLIC. IS TRUMP FAVORING ONE COMPANY OVER
01:00:33ANOTHER BECAUSE OF FINANCIAL
01:00:36INTERESTS BECAUSE OF HIS MOOD OF THE DAY? HE'S DONE THAT TIME
01:00:39AND TIME AGAIN. HE'S FAVORED ONE COMPANY, ONE INTEREST OVER
01:00:43ANOTHER, BECAUSE THEY SUCK UP TO
01:00:45HIM. THEY GIVE HIM CONTRIBUTIONS. WHO KNOWS WHAT,
01:00:49BUT IT'S USUALLY NOT ON THE MERITS, AND IT'S OFTEN CORRUPT.
01:00:52WHAT KIND OF RIGOR IS REALLY
01:00:56BEING EMPLOYED TO PROTECT THE SAFETY AND SECURITY OF THE
01:00:58AMERICAN PEOPLE. WHAT ARE THEY DOING? HOW ARE THEY DOING IT?
01:01:02WHO ARE THEY FAVORING? THESE ARE
01:01:05ALL LEGITIMATE, IMPORTANT QUESTIONS THAT MUST BE ANSWERED.
01:01:08AND THAT'S WHY I CALLED ON THE
01:01:11TRUMP ADMINISTRATION TO HOLD A CLASSIFIED BRIEFING WITH THE
01:01:14ENTIRE SENATE IMMEDIATELY ABOUT
01:01:17THE POTENTIAL SEVERE RISKS THAT
01:01:20UNCHECKED AI DEVELOPMENT POSES TO OUR COUNTRY. WE ALL KNOW
01:01:23ABOUT THEM. WE NEED TRANSPARENCY
01:01:26INTO HOW THE ADMINISTRATION IS TESTING POWERFUL FRONTIER AI
01:01:29MODELS, SOMETHING THEY'VE BEEN CONCEALING FROM THE PUBLIC SINCE
01:01:33ANNOUNCING A FRAMEWORK MONTHS AGO. AI IS SOMETHING WE CAN COME
01:01:36TOGETHER ON IN THE SENATE. I SAY
01:01:41THAT TO MY COLLEAGUES. DEMOCRATS AND REPUBLICANS CAN COME
01:01:44TOGETHER. WE DESERVE TO KNOW HOW
01:01:47THIS ADMINISTRATION IS HANDLING THIS CONSEQUENTIAL ISSUE FACING
01:01:50THE AMERICAN PEOPLE. IF THERE'S
01:01:53EVER A TIME FOR REPUBLICANS TO
01:01:55BREAK FROM THEIR BLINDED
01:01:59ALLEGIANCE TO TRUMP, IT IS NOW. THE WORLD IS IN DANGER, AND
01:02:02REPUBLICANS ARE ON THE SIDELINES
01:02:05SUCKING THEIR THUMBS. IT'S TIME TO GET OFF THE BENCH. AND IT'S
01:02:09WORTH REMEMBERING THAT
01:02:11BIPARTISAN HAS HAPPENED ON AI BEFORE. IF YOU CAN BELIEVE IT. IT'S BEEN THREE YEARS, ALMOST
01:02:15TO THE DAY SINCE I CONVENED THE
01:02:19BIPARTISAN AI INSIGHT FORUMS WE BROUGHT TOGETHER NOT JUST
01:02:22INDUSTRY TITANS, BUT LEADERS
01:02:24FROM ACROSS SECTORS, ACADEMIA,
01:02:27CIVIL SOCIETY, LABOR TO STEER THE SENATE TO MUCH NEEDED
01:02:31ACTION. WE CONVENED THESE FORUMS TO GET AHEAD OF THE VERY CRISIS
01:02:33WE'RE FINDING OURSELVES IN TODAY. TO PREVENT AI FROM
01:02:37GETTING IN ON AN UNSUSTAINABLE
01:02:40PATH THAT ENDANGERS OUR SECURITY, UNDERMINES THE
01:02:44PUBLIC'S TRUST, JEOPARDIZES
01:02:46AMERICAN LEADERSHIP, AND OUT OF
01:02:49THESE FORUMS CAME A BIPARTISAN,
01:02:52COMPREHENSIVE ROADMAP. IT WAS
01:02:54STRONG. IT WAS BIPARTISAN, AND THE ROADMAP WAS TURNED INTO A
01:02:58BIPARTISAN PACKAGE OF BILLS THAT WE CAME CLOSE TO PASSING INTO
01:03:01LAW. AT THE END OF THE LAST
01:03:03CONGRESS UNTIL REPUBLICAN
01:03:06LEADERSHIP, DONALD TRUMP, ELON
01:03:09MUSK, AND AN INCOMING TRUMP ADMINISTRATION BLOCKED IT. WE
01:03:12HAD A CHANCE TO DO THIS. WE NEARLY HAD IT. WE HAD GOOD
01:03:16BIPARTISAN SUPPORT, AND TRUMP COMES IN, MUSK COMES IN AND
01:03:19SAYS, DON'T DO IT. AND NOW LOOK
01:03:22WHERE WE ARE. ULTIMATELY,
01:03:25REPUBLICANS BLOCKED OUR EFFORTS
01:03:27TO ACT AT THE END OF LAST CONGRESS. BUT MY COLLEAGUES, MY
01:03:31REPUBLICAN COLLEAGUES, WE CAN
01:03:32COME TOGETHER AGAIN TO TAKE
01:03:37ACTION. THE AMERICAN PEOPLE ARE DEMANDING IT. WE CANNOT LET PARTIZANSHIP STAND IN THE WAY OF
01:03:41THIS. ONE OF THE MOST SERIOUS PROBLEMS OUR COUNTRY AND THE
01:03:44WORLD HAS EVER FACED.
01:03:47>> MR. PRESIDENT, TOMORROW THE
01:03:49SENATE WILL VOTE ON A CRYPTO BILL THAT POSES MASSIVE RISKS TO
01:03:53OUR FAMILIES, TO OUR NATIONAL SECURITY, AND TO OUR ECONOMY.
01:03:56AND IF THAT'S NOT BAD ENOUGH,
01:03:59WHILE AMERICANS ACROSS THIS COUNTRY SUFFER FROM AN
01:04:03AFFORDABILITY CRISIS, THIS BILL
01:04:06WILL TURBO CHARGE PRESIDENT
01:04:08DONALD TRUMP'S ABILITY TO RAKE
01:04:11IN BILLIONS AND BILLIONS OF DOLLARS FROM CRYPTO. SO, LATE
01:04:14LAST NIGHT, WE GOT THE DETAILS OF PRESIDENT TRUMP AND THE
01:04:19REPUBLICANS, QUOTE, FINAL OFFER
01:04:20ON ETHICS ON THIS BILL. AND IT
01:04:24READS EXACTLY LIKE YOU WOULD EXPECT.
01:04:26>> UNANIMOUS CONSENT TO SPEAK
01:04:29FOR UP TO 15 MINUTES PRIOR TO THE SCHEDULED ROLL CALL VOTE.
01:04:33>> WITHOUT OBJECTION
01:04:41>> MR. PRESIDENT, I ASK UNANIMOUS CONSENT THAT KEVIN
01:04:45WEBB, A DETAILEE FROM THE COMMITTEE ON AGRICULTURE,
01:04:47NUTRITION AND FORESTRY FROM THE COMMODITY FUTURES TRADING
01:04:51COMMISSION, BE GRANTED FLOOR
01:04:54PRIVILEGES THROUGH OCTOBER 2nd, 2026.
01:04:57>> WITHOUT OBJECTION.
01:05:00>> MR. PRESIDENT, IN A FEW MINUTES, THE SENATE WILL VOTE ON
01:05:02ONE OF THE MOST IMPORTANT, CONSEQUENTIAL BIPARTISAN
01:05:06FINANCIAL SERVICES BILL IN A
01:05:09GENERATION. THE DIGITAL ASSET
01:05:12MARKET CLARITY ACT. BEFORE WE DO, MY COLLEAGUES NEED TO
01:05:16UNDERSTAND EXACTLY WHAT'S AT
01:05:19STAKE. I HAVE SPENT EVERY SINGLE
01:05:22DAY OF THE PAST YEAR FIGHTING TO GET THE CLARITY ACT READY FOR
01:05:25PRIME TIME, BECAUSE WYOMING DID
01:05:27NOT SEND ME TO WASHINGTON TO
01:05:30WATCH AMERICA FALL BEHIND, MY
01:05:31STATE SENT ME HERE TO MAKE SURE
01:05:35WE LEAD. TODAY, THIS BODY DECIDES WHETHER WE KEEP THAT
01:05:37PROMISE OR SIDELINE AMERICAN
01:05:41LEADERSHIP. WYOMING WROTE. THE
01:05:44BLUEPRINT FOR REGULATING DIGITAL ASSETS IN THE UNITED STATES. AND
01:05:48IN MANY WAYS, THE WORLD. IN
01:05:512017, THE WYOMING LEGISLATURE EMBARKED ON A MISSION TO CREATE
01:05:55A FIRST OF ITS KIND REGULATORY
01:05:57FRAMEWORK FOR DIGITAL ASSETS
01:06:00THAT PROTECTS CONSUMERS AND
01:06:02PROMOTES RESPONSIBLE INNOVATION. THE WYOMING LEGISLATURE WAS THE
01:06:06FIRST LEGISLATIVE BODY IN THE
01:06:08UNITED STATES TO DRAW THE LINE BETWEEN A SECURITY AND A
01:06:12COMMODITY. WAS THE FIRST TO
01:06:15SAFELY INTEGRATE DIGITAL ASSETS INTO OUR NATION'S BANKING SYSTEM
01:06:18IN A SAFE AND SOUND WAY, THROUGH
01:06:22SPECIAL PURPOSE DEPOSITORY INSTITUTIONS AND WYOMING WAS THE
01:06:26FIRST JURISDICTION IN THE NATION
01:06:27TO CREATE A NEW LEGAL ENTITY FOR
01:06:31DECENTRALIZED, UNINCORPORATED,
01:06:33NONPROFIT ASSOCIATIONS. A WYOMING SPECIAL PURPOSE
01:06:36DEPOSITORY INSTITUTION WAS ALSO THE FIRST DEPOSITORY INSTITUTION
01:06:39IN THE HISTORY OF OUR BANKING
01:06:42SYSTEM TO EARN A MASTER ACCOUNT
01:06:44FROM THE FEDERAL RESERVE. THE
01:06:48SUCCESSFUL WYOMING BLUEPRINT IS THE FOUNDATION OF THE DIGITAL
01:06:52ASSET MARKET CLARITY ACT. TODAY.
01:06:54THIS IS NOT A PARTIZAN BILL, NOT
01:06:59EVEN CLOSE. DEMOCRATS SECURED
01:07:03126 SEPARATE CONCESSIONS IN THIS TEXT, AND THEY WROTE MORE THAN
01:07:06HALF OF THE 630 PAGES IN FRONT
01:07:09OF YOU. THIS BILL STARTED AT 300
01:07:11PAGES. IT STANDS AT 635, BECAUSE
01:07:14I SAT ACROSS THE TABLE FROM MY
01:07:17COLLEAGUES FOR AN ENTIRE YEAR
01:07:19AND TOOK EVERY OBJECTION
01:07:22SERIOUSLY, AND BUILT THOSE CHANGES INTO THE BILL OURSELVES.
01:07:25THAT'S NOT CAPITULATION. THAT'S WHAT LEGISLATING IN GOOD
01:07:29FAITH LOOKS LIKE, SOMETHING THIS
01:07:31BODY FAR TOO OFTEN FORGETS HOW
01:07:34TO DO. NOWHERE, ABSOLUTELY
01:07:36NOWHERE HAVE WE GIVEN MORE ON
01:07:39ETHICS MORE THAN ON ETHICS. IN
01:07:46THIS BILL, IN JULY, PRESIDENT TRUMP VOLUNTARILY PUT HIMSELF
01:07:50THE VICE PRESIDENT. EVERY JUDGE,
01:07:53FEDERALLY ELECTED OFFICIAL, AND
01:07:55THEIR SPOUSES UNDER THE
01:08:00STRICTEST ETHICS RESTRICTIONS
01:08:01THIS COUNTRY HAS EVER SEEN.
01:08:05ALMOST NO ONE IN WASHINGTON WOULD HAVE OFFERED THAT ON THEIR
01:08:09OWN. BUT DEMOCRATS STILL WANTED
01:08:11MORE. THEY WANTED INDEPENDENT
01:08:15OUTSIDE ENFORCEMENT. SO PRESIDENT TRUMP WENT BACK TO THE
01:08:17TABLE, AND HE GAVE MORE. THIS
01:08:23FINAL TEXT REFLECTS SUBSTANTIALLY ALL OF THE TOLUSE
01:08:26GALLEGO FRAMEWORK, BUILT ON TOP
01:08:29OF WHAT WAS ALREADY A STOLARIK
01:08:31STATE ATTORNEYS GENERAL NOW HAVE
01:08:34DIRECT AUTHORITY TO ENFORCE
01:08:37THESE ETHICS RULES AGAINST FEDERAL OFFICIALS THEMSELVES.
01:08:41THEY CAN GO AFTER EXCHANGES AND
01:08:46ISSUERS UNDER CONSUMER PROTECTION LAW, SO BAD ACTORS
01:08:49GET HIT. COMING AND GOING. NO PRESIDENT HAS EVER GONE THIS
01:08:53FAR, AND THIS PRESIDENT DID IT
01:08:57TWICE. LET'S BE HONEST ABOUT
01:08:59WHAT A NO VOTE ACTUALLY IS
01:09:02TODAY. IT'S NOT A PRINCIPLED
01:09:04STAND AGAINST THE PRESIDENT.
01:09:07IT'S NOT A VOTE AGAINST A BILL
01:09:11THAT HAS HAD A PARTIZAN FLARE.
01:09:14IT'S A VOTE TO PROTECT
01:09:17POLITICIANS PERSONAL CRYPTO
01:09:19HOLDINGS FROM THE VERY LIMITS
01:09:21DEMOCRATS DEMANDED AND GOT.
01:09:27IT'S A VOTE AGAINST THE CONSUMER PROTECTIONS. AMERICAN
01:09:30FAMILIES ARE COUNTING ON, AND
01:09:32IT'S A VOTE TO HAND THE FUTURE OF FINANCIAL INNOVATION TO A
01:09:36FOREIGN COMPETITOR WHO WILL NOT BE FOOLISH ENOUGH TO WASTE THIS
01:09:40CHANCE TO LEAD OUR GLOBAL
01:09:42DIGITAL ECONOMY. AND ON SHORE,
01:09:44THIS INDUSTRY, AND THE GOOD
01:09:47PAYING JOBS IT CREATES, THIS
01:09:50COUNTRY, PUT THE FIRST MAN ON
01:09:52THE MOON. WE BUILT FINANCIAL INSTITUTIONS, AND WE BUILT THE
01:09:56INTERNET.