Youre seeing money coming out of the bond market. The u. S. 10 year yield up about four basis points. The dollar is down for the first day in 11. That shows some of the dollar funding stress that was present in the market may be easing a bit. All of that should support this rally, but we have to wait and see if we get that stimulus. David we are promised daily, but they are saying today it is coming in just a matter of hours. We hope that that is true. How broadbased is this on the equities side . Kailey it is pretty much across the board. Everything is green, and what is interesting is it is the most beaten up sectors leading this rally. Energy is on pace for its best day since 2008, up about 10 . Abouttocks that have lost half their value are actually leading the charge, so you are seeing some buying of those dips, where evaluations are quite suppressed at this point. David on airlines, that could be tied to the bill because theres reportedly some help from the airlines, but energy is a bit different. I wonder if that has to do with anticipation of global demand, or whether it is things like chevron saying we are going to eliminate our Stock Buyback Program and cut by 50 or Something Like that. Going to cut were 4 billion from capex and their Stock Buyback Program. On ourgoing to pull back buybacks. That seems to be the status quo. I dont think it disrupts the market anymore because we do have the coronavirus out there. So a lot remains unclear at this point. David that is a rather good point. I will stay on the subject of that massive spending bill everyone is waiting for. Thus far, we havent had it. Welcome now from washington terry haines, founder of pangea policy. Thank you for joining us today. Give us some sense of what is between us and having that bill actually pass. [laughter] terry thanks for not holding me accountable, david. I think it is pretty much all over but the shouting. A lot of ministerial details to go. Speaker pelosis late incursion into this process added a little bit of time to it. Theres complete understanding that things need to happen as quickly as possible. I understand this morning in public, when push back upon whether you could get this done tonight, she didnt object to that. It is sort of a tuesday late, early wednesday at the absolute latest, that this thing gets done pretty quickly. David most people are saying just get it done as long as there is money coming our way, but have the republicans come her way some. There were a couple of basic categories, number one, are we helping the working people enough through things like Unemployment Insurance and things like that, and the other is strings on money going to corporations. Have republicans moved in her direction . Yes. i think they have, one of the things democrats and Speaker Pelosi have been saying is theres been more accountability and more oversight for that money. Congress has the validity to oversee what treasury does anyway, but they would like some additional oversight, and that is more of a ministerial detail than anything else. Republicans i think are quite willing to accept that. David the president himself said he would favor restrictions on stock buybacks. Senator Elizabeth Warren of massachusetts saying i want a separate body to oversee this rather than Trusting Congress to do this. Is it likely we will have Something Like that . Terry i think whatever misses warren might like probably waits for another day. The broad outlines of this have been clear for some days. What the House Democrats priority has been has been clear for the last 24 to 48 hours. I think anything more elaborate, if this gets set up in the end, may have to wait. I would look for separate bodies and things like that, i would look for strong Republican Opposition to that. They certainly are not going to let yet another end up in and body. David fairpoint. It is one thing for congress to pass a bill and the president sign it. Is it another thing it is another thing to get cash into peoples pockets. Do you have any idea what might get cash into the economy the fastest . Terry the rule of thumb i would use is the more direct the assistance, the faster it works. Secretary mnuchin has been saying for a week or more that his goal is been to get checks cut immediately, so i think that happens. Immediate assistance to a variety of industries happens. It will take a little bit longer, largely because there are hoops you have to jump through in order to get those. Be ans going to need to expedited application process and an expedited acceptance. That is going to add a few days to things. Onrybody has been focused trying to get the aid out of quickly as possible, which is exactly why the major stumbling block into b b bill itself. Stumbling block ends up being the bill itself. David everyone agrees this is necessary, but it is probably not sufficient in the end. Terry i think that is right. I would look for bill four. Things change. A week ago, i would have said seven to 10 days for this bill, and we are going a little faster than that. Forward a period of weeks. What they need to see is how quickly this third bill writes the checks. How quickly this third bill writes the ship. If you see congress coming back beginningly, from the , there has been bipartisan agreement in washington on doing whatever it takes, and i expect that to continue. David thank you so much for joining us. Always so good to have you with us. That is terry haines. We turned out to ritika gupta for bloomberg first word news. Ritika the tokyo summer olympics have been put on hold. Japans Prime Minister shinzo abe and the International Olympic committee have agreed to delay the games by a year due to the coronavirus outbreak. It was scheduled to begin july 24. The euro zone is sinking into the biggest economic crisis in its history. Efforts to contain the coronavirus pandemic have brought much of the Business World to a standstill. Private sector activity plunged to the lowest since the index started, more than two decades ago. The price of oil rallied for the second day in a row. Brent crude is approaching 28 a barrel. The trumpet ministration says an alliance with the saudi the Trump Administration an alliance with the saudis is one idea under consideration. Transportation will be allowed to resume in the city of wuhan on april 8, and residents will be able to leave the city and the surrounding province. Last week, the province reported that new infections had dropped to zero. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. David thanks so much. Coming up, hes the man at the center of a huge effort to get protective equip into Health Care Workers protective equipment to Health Care Workers. We will talk to mike roman, ceo of 3m. This is bloomberg. David this is balance of power. Im david westin. Personal protective equipment for healthcare workers, especially masks, or key to fighting the coronavirus. We welcome now michael roman, chairman and ceo of 3m, for an exclusive interview. Thank you for joining us. Lets get right to s, those n95 masks right to it, those n95 masks. How any of them are you producing . Mike, can you hear me . We were just on the phone with him. We are going to get mr. Roman back on. This happens in this new world of coronavirus. Later on, we will have an update on the markets. Stocks are rally and, as you know. This is bloomberg. David this is balance of power. Im david westin. We are back mike roman, ceo of 3m. Crucial toks are so our Health Care Workers. What is your capacity . How many can you produce . Mike thank you for having me on. That respirator is at the center of what we are focused on. Not just for the safety of our people, but the safety of the public is critical. We have a unique responsibility respiratorshose n95 to people on the front lines. We have accelerated to maximum production globally, including in the u. S. , beginning in january, and we are currently operating at that level. Monthuced 35 million each we produce 35 million each month out of our facilities in the u. S. We have prioritized those for the Health Care Workers on the front line. To thatontinue to add capacity. We are at 35 million today, and really delivering to the greatest needs around the u. S. David we are all becoming familiar with these numbers now. We hear them from the president and the vice president. If you need to increase production, because it sums like right now we cannot get enough of these things, how long will it take for you to increase above that 35 million range . Mike we are working with government partners, with other companies, looking to always increase our capacity. Been to keephas idle capacity available for times like this. We have brought all of that online. We are adding to that with additional investments in the pipeline, and we are working to continue to add capacity further out as we go through the year. It is kind of in stages. Near term, we can add some increment of capacity, working with other companies to look at alternatives to add even more than that. We are striving to add more each month, and later in the year, we think we can increase significantly with additional production lines that would come online for us. Mike give us a sense david give us a sense of your relation to put the government here. We have heard about 3m more than once. My understanding is mike pence went out and visited you at one point. Are they invoking the defense production act with respect to 3m . \ 3m . Ith perspective with respect to 3m . Mike we have been working very closely with the administration. The amendment which enabled us to deliver our industrial rep raters industrial respirators to healthcare workers on the front line, that was the first big step. The defense production act has really enable us to Work Together on making sure we are getting the respirators to the most critical needs around the country. Our teams are working together with fema, with health and Human Services, making sure we delivering where the needs are greatest. It is a partnership that has really been very effective as we have come through the month of march. David you are at the center of a true global crisis. What in your past experience may have prepared you for this, or prepared 3m for this Unprecedented Demand . Not just demand, but need for the health and safety of the mark in public . Coming through sars and h1n1, we are a critical provider of these, and need to be able to lead in times of crisis. We made the decision to invest in capacity that stayed idle under normal circumstances. Normally, a majority of our respirators go to industrial use, protecting workers in difficult environments. In times like this, we have to both surge capacity, and we have almost doubled our output since the beginning of the year as we came into the year expecting normal business demand, and then we are able to surge everywhere around the world. We manufacture in all regions of the world. The u. S. Was very important, and we have ramped that up to 35 million, but we have ramped up globally to 100 million per month, so we are surging everywhere around the world. David there is something i am learning about called the powered air purifying respirator, the papr. There was an announcement made with 3m, ford, and ge. Explain what these are and what the nature of this joint venture is. Mike this is a great example of how companies have stepped up and responded to the call to action to do everything they can to help serve the Public Safety and the needs of the Health Care Workers. Ford reached up to us to Work Together on anything that we could do to increase our capacity and the solutions we can bring to the market. This powered air purifier is an area that is an important product for use in some of the health care environments. Expertise, they can bring skills where it is needed most for us and help us increase production of those powered air purifiers. I am really pleased with fords response on the help they have been giving us. David are there other joint ventures you may be working on or looking at that may expand capacity for giving Protection Equipment to Health Care Workers . Mike we are looking all across the supply chain about working with a number of companies on how we can increase the output of our lines, how we can bring new put get that is one of the things we can do, get what would be a normally longer lead time to bring on new capacity. Companies are stepping into that. Theres also the logistics side. Normally the supply chain is very efficient, but it is times changing when we are daily our working environment. We are finding people to help us areas thatpedite to we need to expedite overnight orders that are criit has been e supply chain spectrum, and maybe most important, help all the way back to run materials has been very important in the Way Companies have stepped up. Give us a sense in who decides where these are going. We hear from Governor Cuomo here in new york daily about a shortage of these. Healthe are working with and Human Services and fema to make sure we are prioritizing where they see the needs are greatest. We work directly with the hospitals themselves and the health care providers, and we are working to deliver on the greatest need and urgency. Over the last week, we delivered one million respirators into new york city, responding to the urgent need. The weekendver product into Washington State and new york city that began arriving yesterday. It is really prioritizing where the needs are greatest, and getting help from every angle on it edifying that. On identifying that. Running a also are very Large Corporation with Something Like 96,000 employees. You said the First Priority is the health and safety of your own people, but also the health and safety of the American People. How are you balancing that at that moment . We need people many factoring these things, but they are taking some risk being outside their houses. Mike we are managing that in our operations. We have been like every other company, adapting as we have gone. Everyone who can work from home works from home. That is not practical in a factory where we are producing these critical safety products, so we have procedures and operations we have put in place. Planning robust process. We have processes where we are having our own workers using respirators. We are implementing cleaning and ng cycles, really supporting their safety in the factories. There is a standard operating process that we put in place. We have escalated to the most critical safety levels for that. That allows us to keep operating in those plants and other operations that are so important at this time. David you are trying to strike that balance between the protection of your people and manufacturing things we desperately need. We as a country are going through a version of that right now. We heard from larry kudlow this morning, saying that with think we have to start bringing some of the economy back online by the end of the month, which would be next week. What do you thing about that . Where do you strike that balance more broadly . Should we be letting people back out of their houses for the sake of the economy . Mike we put our focus on the safety of our people. Right now, we are following all of the guidance that we are hearing from and being directed by the government. That is both local, state and federal, and we have been able to manage our operations around that, and getting that balance is critical. , the unprecedented challenges we are facing, but it is something that, with these kind of procedures in place, protecting our workforce, the people in the plants, we will continue to do our best to operate in support of the needs out there. David mike, thank you so very much. We all wish you the best of luck. That is 3m ceo and chairman mike roman. Lets get a quick check on the markets. Kailey leinz is back with us. Kailey we are still in the green. Of course, things can change in the blink of an in this equity market. I would caution that one day of gains does not a recovery make. We are still down about 30 from the s p 500 peak until now, and we have not seen back to back gains since we had that record high on february 12. We will see how sustainable it is, if the market is as excited about the prospect of stimulus tomorrow as it is today, but today it is indeed excited. David is it sort of buy the rumor, sell the fact . Kailey we have seen it coming to matter how dramatic the reaction of monetary policy, throwing the kitchen sink and more at the market doesnt always have a sustainable rebound. We will see what happens here. David somebody said take whatever number you think it is, and double it, whether it is the federal congress, and it just isnt enough. Kailey when you cant quantify the impact of the coronavirus, what it is going to have on unemployment, jobless claims, on growth, we have seen some really drastic downward revisions for u. S. Growth. When you still dont have an understanding about that impact commode you dont understanding about the impact, need. Nt estimate the david up next, Neil Barofsky will be joining us right here. We will talk about what we need to do to make sure the money is spent correctly. Live from new york, this is bloomberg. These days you need faster internet that does all you expect and way more. Thats xfinity xfi. Get powerful wifi coverage that leaves no room behind with xfi pods. And now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device thats connected is protected. Thats a 72 a year value. No one else offers this. Faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. Can your internet do that . David from new york, this is balance of power. Mitch mcconnell says the senate is close to passing a stimulus bill. He describes it on being on the five yard line. Joining us is Laura Davidson of bloomberg news. We have heard this before. Is it new this time . Real it seems to be more than it has been in the past week. Speaker pelosi said she is optimistic they will get a deal. One of the sticking points all day yesterday was oversight for that 500 billion fund for loans to businesses as well as state and local governments. Version, there was not any mechanisms to see the funds being spent according to what the law was saying. Democrats that we want Oversight Panel in congress as well as Inspector General and treasury secretary Steven Mnuchin has agreed to that and that has allowed things to move forward today with a vote in the senate. David that is potentially a very large breakthrough. The other issue beside oversight or Strings Attached to corporations was is are we doing enough for the people who are the working class . Does it beef that up . Laura it has also been one of the issues they have been working on and nancy pelosi indicated the place the bill is now has enough to help workers and people who are unemployed. They have drastically expanded Unemployment Insurance, both the amount of the payments as well as how long those will go out. There is also direct payments going up to households in the most recent version that democrats were able to secure a change. In the initial version, very low income individuals would not get a check at all. 75,000t turning under we want checks for everyone earning under 75,000. There have been other issues they have come to agreement on. David that is bloombergs Laura Davidson. Something like this happen, there was a special Inspector General to monitor how the funds were being spent. Neil barofsky fill that role. We welcome him now over skype. Thank you for being with us. You have heard lauras report. It appears we will have an Oversight Panel. What are your warnings to congress about what needs to be done . What would you hope to see in the bill . Laura it is a remarkable amount of progress. Just yesterday there were virtually no oversight provisions. This is a lot of progress. A lot of the devil is always in the details. It does look like they will be empowering a special Inspector General, i think my old agency will be repurposed to oversee this. That is an experienced agency, so all of that is important. It is in the detail. Will they have the necessary access . Are there going to be components to make sure there is the necessary level of transparency . Before the idea is we would not know who the ballot recipients were for a period of six months. That would be kept secret. That is anathema to any degree of transparency if you want to avoid corruption and political favoritism, the things inherent in any bailout. A bailout is just picking winners and losers. You want to make sure you have an even Playing Field so the companies deserving of relief get it not because they have a political connection, not because they play golf with their member of congress or because their lobbyist are more powerful than their counterpart. You want this to be effective and have the biggest impact on the economy. There has to be a transparent level Playing Field, and most important, are there Strings Attached . One of the failures of last bailout was congress wanted in the administration announced the money would be used to increase lending and help homeowners, but when the contracts were written in the money was pushed out, there was no language in that that incentivize did. What happened . Those goals were abandoned. It is important that whatever the policy goals are of this congress and this administration , if it is to keep people at work, it has to be hardwired into the legislation itself and the loan agreements or whatever these things are. Otherwise it is not going to succeed. A slight difference with this one. That one was at the banks. This one is with employers. How do you do that without slowing down the whole process . You cannot say you can never let anybody go. Are there ways to do this that you can expedite it and protect why we are doing it . Neil there are a lot of different ideas floating around and i do not presume to be an expert on Employment Contracts nor do i purport to be one. It does not have to necessarily be compulsion all of the time. It can be baseline. You can continue your existing level within plus or minus certain percentages. You can incentivize. If it is the loan agreement, your Interest Rate on the loan maybe can go up and down based on your Employment Level compared to the baseline. There are a lot of ideas potentially out there. It is important. We saw this last time. Just because there is maybe not the perfect solution does not mean theres is not any solution. It needs to be creative. You cannot just walk away from these types of things. If that is what youre trying to do and what your stated policy goal is. If your stated policy goal is to save the banks at any cost, we do not care what happens to main street, then ok, be honest about that and you do not have to worry about restrictions. If the American People support that, great. If youre going to have aspirational goals, you have to hardwire them in on the one hand. You have to have oversight to make sure those rules are complied with, and third, you have to have a strong Law Enforcement effort that accompanies this from day one. You push out 500 billion worth of honey, you will draw a lot of criminal flies. If you do not have that in place to start thinking about antifraud provisions, conditions that will dissuade bad players from coming in, it will be a freeforall and hollow out the little faith American People have in their government. I inferred that one of the things you think did not work last time was having specific guidelines on what we are trying to accomplish. I would think it would be loaning money. What did work you would want to make sure was in this time as well . Neil oversight. It is one of the great successes. That is not just selfcongratulatory. It is selfcongratulatory, but if you look at some of the things that have to be part of this, for example there pushing of thellions of dollars treasury backstop of the federal reserve. Last time when that was originally to go out, it was not body trying to do harm, but they wanted to roll this out with no antifraud protection. The only protection being Credit Rating agencies as being the sole card the sole guard of what the fed was going to invest in. The oversight industry came in. Rating agencies is what got us into a lot of this trouble. We work out a program that had strong antifraud provisions and also have a Law Enforcement task force to scare away the bad players. When you look at that program, it was a success. It has zero losses due to fraud. You can take these ideas, but you have to pair them with smart oversight and tripwires and deterrence and that is how they will be most effective. What will not work is hiding everything from the American People for six months. That is an invitation for corruption, for selfhealing great you can for self dealing and you can close out good ideas. When the government listens to the oversight agencies, the programs got better, they became more effective, they became safer. It was not always easy, but they did. That is another important part, to have that transparency so that the administration, congress, the media, it is exactly what is going on. David really appreciate that Historical Perspective that is particularly applicable right now. That is Neil Barofsky, a former special Inspector General of the United States treasury under tar. For first word news we go now to ritika gupta. Ritika nancy pelosi said she is optimistic that congress will reach a deal on a massive stimulus measure. The Trump Administration has given in on a key democratic demand and agreed to independent oversight of a fund to support companies. Italy is considering imposing fines of up to 3200 for those who violate the nationwide lockdown orders. Police may also seize the vehicles of anyone caught violating the restrictions. The Prime Minister has banned movement inside the country and shut down almost all industrial production. The current price of violation is 220. New numbers show how hard the Airline Industry has been hit. Passenger traffic is down 86 from a year ago. The Major Airlines in the u. S. Scrapped several thousand daily flights and more are likely to be canceled. Capping itsrs is revolving credit line. The automaker plans to bring out billions of dollars and is suspending its guidance this year because of the coronavirus pandemic. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Am ritika gupta this is bloomberg. Up, with lawmakers on the break of a historic 2 trillion spending plan, we will get the view from capitol hill with senator mike braun, republican, indiana. This is bloomberg. David this is balance of power. I am david westin. We continue to look for the historic spending way spending bill making its way through capitol hill. We are joined by senator mike braun, a republican from indiana. Thank you for being back with us. Want to talk you about bringing the economy back. Lets talk about this historic spending bill. What is your sense of its magnitude, whether it will come through, and when . Magnitude two major points. They should have been done on sunday when Speaker Pelosi got back in town. She might have tried to commandeer the package. Bipartisanlievable taskforces where we all thought it was done on sunday evening. Then we started to see the laundry list. I think that was a mistake on the democrats part. If we had been holding this up for full transparency on the most important piece, the emergency stabilization fund, in this day and age, you need full transparency. I heard that just got across the finish line. Our side, maybe secretary mnuchin was working too hard for that. Yesterday i got together with four or five democrats, and at that level there were three issues. State and local government support, the hospitals, the first line of defense, and the transparency piece. Most of us main street republicans would be ok with all of them. David the transparency is quite important, as you suggest. The last time with tarp there was a lot of secondguessing after the fact that we do not know where the money is going. Sen. Braun we should be fully transparent in the business of government, especially here on everything you do, and just because it is on your side, something you want to do, transparency is the key to everything working right to where you get held accountable. David as we have talked about before, you are a business guy from indiana. If this thing does get through and the president signs in the next 24 hours, how fast will the money get into the economy and where will we see at first . Sen. Braun this is a difficult conversation because all along i have said you have to tamp the disease down. I have also been the first republican and a floor speech to say that on day 15 we need to take all of the things weve learned about the disease itself and the Economic Impact and then start to tailor our approach. That is why it is so important to get this across the finish line, because that would threaten what we do next monday on having the flexibility to lighten up a little bit in places where we can do that. We cannot systematically shut the economy down. We have to make sure we flatten the disease without flattening , and that is a tricky model and a tricky balance from the get go. I feel good we will make the right decisions. David you and i talked about that last week after you gave the speech on the floor and you said we have to be careful we do not kill the patient to save the patient. We are now hearing that from the president. We heard from larry kudlow this morning. What is your sense . I guess it is the president ial guidelines he is backing off on sometime next week. Sen. Braun we have learned a lot about the reasons this nation has high anxiety. You have the tickertape of the coronavirus in the corner. We have never seen anything like it. It came out early with the 3 to 4 mortality rate. Said it would be under 1 . If you take all of the real cases we have, it will probably be closer to the flu. It is very contagious. We have to take it seriously. On the other hand, there will be air reversible damage if we keep cascading and economic shutdown. Youll probably need it in new york and areas of population density until you get further down the trail. And a lot of the country, you want to take a different approach. Be entrepreneurial about it, take all of the information we have learned about the disease, and i hope we do start getting the economy back to normal. Many people want to do that. That is where we need to go as a country. We need to tamp the disease down as well. David there are differences region by region. We just had Governor Cuomo giving a News Conference and he said we are doubling the rate in new york city every few days. This is not a federal government call, is in it up to the state . Sen. Braun i think like everything, some have asked for mobilizing on a national basis. There needs to be direction from here. My observation is things always get done better and more efficiently when youre doing it at a lower level of government. Governor cuomo has been doing it just right for new york. That is ground zero, it is where 40 of our cases are. Emphasis onabsolute tamping the disease down. In indiana, we have had relatively few cases. Maybe indianapolis. Our governor to do a statewide shutdown for two weeks, and next monday all of that needs to be reevaluated across the country. Be smart about what we have learned from the disease point of view and not killing the economy. David thank you very much for your time. That is senator mike braun, republican of indiana. Sidell hear from the other of the capital and the other side of the aisle with congressmen and 11 of michigan. With congressmen and 11 of michigan. David this is balance of power. I am david westin. Andy levin of michigan called for the president to invoke the defense production act. We welcome congressman levin over the phone. Are you satisfied the president is doing what needs to be done with the defense production act . Rep. Levin not yet. I am encouraging him in a bipartisan way to use the full power of the defense production in a patriotic effort to produce the ventilators, the respirators, the grounds, everything we need in a Testing Capacity to get this pandemic under control much better. I think a lot of our companies are eager to pitch in. This is a case were nothing but coordination at the highest level will suffice. This is a flatout emergency. We have hospitals in my area that are already using almost every ventilator they have. If our cases keep doubling every few days, i do not want to see doctors deciding who lives and who dies among people gasping for air. That is unacceptable and we have to act quickly. David absolutely. You have a sense of where the private sector might not be stepping up enough. We just had the chairman of 3m on. It sounds like he is doing everything as he can. Do have a sense of where the chokepoints are . You levin the problem is need to set National Goals and timelines. We need to make a decision as a sks wey how many m95 ma need and buy when and then Companies Like 3m can say we can produce this many and we can get additional capacity to produce more. The same with other ventilators and certainly Testing Capacity. One thing people need to understand is even if we failed in the first instance to have enough testing and theres been a lot of community spread, we will come to the end of this first big wave and the question of whether we will be able to fully ramp up the economy will depend on whether we can have weeksesting in the coming so we do not have to shut everything down to prevent another huge wave of virus outbreaks. We need on testing, on protection, and treatment, we need a National Response right now. David turning from those three areas over to the economy, we are told we are likely to get a massive spending package out of capitol hill as early as today. Is this sufficient for now . Rep. Levin not as far as i am concerned. I have to wait and see what the agreement is. Housek super hard in the that thegether a bill speaker produced. It is a 2. 5 trillion bill. Weeks ago we cannot believe we would have Something Like that, that it is a new world. It does much more for small business, does much more for students, does much more for local governments, does much more for public hospitals, community clinics, all of the groups, andnprofits especially the people being hurt by this. We need to get the money right now. Bill is more targeted and more generous and i hope Something Like that is what emerges from these talks. David let me talk about something specifically you know. You have a Union Organizing background. Are we doing enough on the employment front . Post economists are desperately concerned about what will happen with unemployment. Rep. Levin we are not. I know we have been pushing with the senate bill to not just beef up it is not just about how much money, it is about doing it in the right way that gets it to people. You need to increase the amount of money through the Unemployment Insurance system, but so many workers in todays economy have many parttime jobs, of gigs, are not even eligible for that. You have to put money out there in a way that gets everybody. Risk ofre at grave losing their homes their businesses, everything. David a lot of work to be done. I hope we will see that final draft today because i hope you will be passing it. Many thanks to andy levin, a democrat from michigan. Coming up, balance of power continues on the radio. Well continue the discussion about what is being done for the workers. This is bloomberg. Guy live from london, im guy johnson vonnie quinn in new york. We are counting you down to the european close on bloomberg markets. Lets take a look at where European Equity markets are. We are searching strongly. Anticipating what is about to come out of washington driving equity markets. This despite disappointing data out of the euro zone and u. K. In terms of the pmi data we saw earlier in the session. We see similar numbers stateside. The stoxx 600 is up nearly 7 . With stocksp 8. 5 like volkswagen bouncing back. We have the cable strongly bid. A 1. 18 handle. Crude is up 1. 3 . That is not great, but relative to where we were earlier we are at least in positive territory. Earlier we are higher and we are continuing to see th
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