Subject: POLITICO Playbook, presented by Morgan Stanley: ONE YEAR since Donald Trump beat Hillary Clinton -- BUZZ: More Rs lining up to leave Congress -- DEMS SWEEP in Virginia and N.J. -- GOP congressman tells JMART and BURNS election was referendum on TRUMP
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Date: Wed, 08 Nov 2017 05:25:18 -0600
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Today's POLITICO Playbook presented by Morgan Stanley 
            
By ANNA PALMER ([email-masked]; @apalmerdc), JAKE SHERMAN ([email-masked]; @JakeSherman) and DANIEL LIPPMAN ([email-masked]; @dlippman)
        
Listen to today's Audio Briefing | Subscribe on Apple Podcasts | Visit the online home of Playbook
                  Driving the Day         
ONE YEAR AGO TODAY, Donald Trump beat Hillary Clinton. 

Happy Wednesday. WHAT WE'RE HEARING ... In the last 24 hours a pair of House Republicans retired: NEW JERSEY REP. FRANK LOBIONDO and TEXAS REP. TED POE. Several sources have told us there are likely to be more departures. Other lawmakers we hear could announce they will not seek reelection to their House seat: REP. BOB GOODLATTE, the Virginia Republican who is term limited atop the Judiciary Committee, and REP. MARTHA MCSALLY (R-ARIZ.), who is likely to run for a Senate seat. Goodlatte's office did not respond to a request for comment, and McSally's office did not have a comment.

THE BIG PICTURE -- BIG NIGHT FOR DEMOCRATS -- Democrats won the governor's mansions in New Jersey and Virginia. DAVE WASSERMAN (@redistrict) says that "raw votes cast" in Virginia were up 16% from 2013. Charlottesville was up 31%. Maine voted to expand Medicaid. Manchester, New Hampshire had its highest turnout this decade and elected a Democrat to its mayorship for the first time in 14 years.

PRESIDENT DONALD TRUMP's response to Republican Ed Gillespie's loss in Virginia? @realDonaldTrump at 8:40 p.m.: "Ed Gillespie worked hard but did not embrace me or what I stand for. Don't forget, Republicans won 4 out of 4 House seats, and with the economy doing record numbers, we will continue to win, even bigger than before!"

-- THE HOUSE SEATS that Republicans won were in all solidly red districts.

--THE MOOD: "Democrats euphoric after Tuesday election romp," by Gabe Debenedetti: "Jubilant Democrats struck a defiant tone after sweeping victories across the country on Tuesday night, led by Democrat Ralph Northam's surprise pummeling of Republican Ed Gillespie in Virginia's gubernatorial race. Surveying their first electoral sweep in half a decade after a soul-crushing 2016 campaign and a desultory start to the Donald Trump era, Democratic leaders reset their expectations for the 2018 midterms. 

"They're now expecting a fundraising and candidate recruitment surge, powered by grass-roots fury at the Trump administration. While most Democrats stopped short of predicting the party will take the House next year, they noted in Gillespie the failure of a candidate who tried balancing between Trump-style populism and establishment Republicanism." http://go.politicoemail.com/?qs=ef53b3e190508606ce13d1f05a235fe9f485af78ee9a948e3e2669009be4a1e3567f98c7bbee520480d34472068311f1 ... More from Kevin Robillard http://go.politicoemail.com/?qs=ef53b3e190508606dc61232797bab70f6a4509e33e39e92a1b70c22bcdd71f0d41b4e4d974bc1f21b67aae4f4d89b1fd

-- THE BIG PICTURE IN THE COMMONWEALTH: "Trumpism Without Trump: A Losing Formula in Swing-State Virginia," by NYT's Michael Tackett in Alexandria, Virginia: "For Ed Gillespie, Trumpism was an ill-fitting suit. His r&eacute;sum&eacute; was pure establishment -- national Republican Party chairman, counselor to President George W. Bush, well-connected K Street lobbyist. But the messaging of his campaign for governor of Virginia was that of a cultural flamethrower, emphasizing crimes by undocumented immigrants as well as monuments to Confederate heroes - and even suggesting that his opponent, a pediatric neurologist, supported child pornographers. As the Republican candidate, Mr. Gillespie
 tried to run in a very narrow lane by embracing some of the most divisive elements of President Trump's agenda while treating him like Voldemort and mostly refusing to utter his name." http://go.politicoemail.com/?qs=ef53b3e19050860626f8df161afe8c8f1982f26ea867d42476cb8be980f747109f82b50dc2bcc12c827959b462409cf7

-- RICHMOND TIMES DISPATCH: "Democrats erase 32-seat GOP advantage in House; recounts likely to determine control" http://go.politicoemail.com/?qs=ef53b3e190508606fa43e6210ca2da127679906f3e52fb3f7b1f8b4786f4a0d835197ccb4312c59554d9b0d39c3fdd4a

JESSICA POST (@JessicaPost), executive director of the Democratic Legislative Campaign Committee: "Flipping 14 seats from red to blue in VA is the biggest Democratic pick-up since 1899."

QUOTE OF THE DAY, in NYT's JONATHAN MARTIN and ALEX BURNS' A1 PIECE: "Representative Scott Taylor, a Republican from Virginia Beach, said he considered the Democratic sweep in Virginia a repudiation of the White House. He faulted Mr. Trump's 'divisive rhetoric' for propelling the party to defeat, and said he believed traditionally Republican-leaning voters contributed to Mr. Northam's margin of victory.

"'I do believe that this is a referendum on this administration,' Mr. Taylor said of the elections. 'Democrats turned out tonight, but I'm pretty sure there were some Republicans who spoke loudly and clearly tonight as well.' Channeling the shock of Republicans across the state, Mr. Taylor voiced disbelief at the party's rout down ballot. 'I know folks that lost tonight who were going against candidates I'd never even heard of,' he said." http://go.politicoemail.com/?qs=27592e23888b7f06c7eb396a3355174bea0fc2c578925b623c9682ccd5a69af36ae9ca82990ef3b4f2f772c4b6507bc6 

-- ROMP IN NEW JERSEY -- STAR-LEDGER: "Phil Murphy beats Kim Guadagno to succeed Christie as N.J. governor": "As of about midnight, with 99 percent of districts reporting, Murphy led Guadagno by about 14 percentage points -- 56 percent to 42 percent, according to the Associated Press. Murphy was ahead by nearly 250,000 voters -- 1.12 million to 856,000." http://go.politicoemail.com/?qs=27592e23888b7f06ffdb23f866fb9f056a9877df5985e8d337185a79382e26d911bc08026613e2fe347c2d5525f1a876 

-- ... AND IN THE NORTHEAST... PORTLAND PRESS HERALD: "Maine becomes first state to approve Medicaid expansion by popular vote," by Edward D. Murphy: "Maine voters passed a measure to expand Medicaid on Tuesday, giving about 70,000 Mainers health care coverage and making the state the first in the nation to approve Medicaid expansion at the ballot box. With 75 percent of Maine precincts reporting, the measure was favored by 59 percent of the voters." http://go.politicoemail.com/?qs=27592e23888b7f065f8e7268d61cd842fbaec9f4ef994d373023428380debb0b1a21acd41d4a6f87c71b00d2cb327e03 

-- @mviser: "Good luck getting Susan Collins to ever vote to repeal Obamacare".

-- NEW HAMPSHIRE UNION LEADER: "History made in Manchester: Joyce Craig elected as Queen City's first female mayor," by Paul Feely: "Unofficial results from Tuesday's municipal election show Craig defeated incumbent Mayor Ted Gatsas by almost 1,500 votes to become the 48th mayor of Manchester. The largest turnout so far this decade helped Craig beat Gatsas, following her loss two years ago by just 64 votes. ... Craig is the first Democrat to be elected mayor of Manchester in 14 years." http://go.politicoemail.com/?qs=27592e23888b7f063cd804cb5973e389ffc05f6d50ead67d39b23241bff949afe1d0714c3d31fe48dc3026987f44b9ba 

-- BY THE NUMBERS: "Exit polls: This was a message to Trump," by Steven Shepard: "This one was for Donald Trump. Exit polls revealed an unmistakable anti-Trump backlash Tuesday, as Democrats won resounding victories in governors races in Virginia and New Jersey. Majorities of voters in both states disapproved of the job Trump is doing as president, with significant numbers of voters in each state saying Trump was a reason for their vote. And far more of those voters said they made their choice to oppose Trump than to support him. ... [W]hat is unusual about Tuesday night is the extent to which the two races were about Trump. And the stark results cast fresh doubt on the health of Republican
 majorities in the House and Senate, in addition to gubernatorial races in next year's midterm elections." http://go.politicoemail.com/?qs=27592e23888b7f0643116ee9b0de2374c827eb2682d9c8a70e31694ef50a2b59272256eb3ccd60836a7701f6cf1174f1

 CATCHING YOU UP ON TRUMP ABROAD ... 

-- AFTER THE WHITE HOUSE CALLED a trip to the DMZ clich&eacute; in Washington, Trump attempted to go with the South Korean president but was thwarted by bad weather. 

--HOW POOLER JULIE DAVIS REPORTED IT: "Your pool was summoned earlier than originally scheduled Wednesday morning and briefed by Press Secretary Sarah Huckabee Sanders about the president's surprise trip to the Demilitarized Zone. 'This is where we're going,' Ms. Sanders said, holding up a piece of notepaper on which the letters 'DMZ' were scrawled. She said that was the way she had been instructed to alert us to our destination. ... The pool boarded Chinook helicopters in a grassy field that had metal bleachers on one side. 

"A half-dozen camouflage-clad guys in tactical gear were seated at the back of your press pool's bird, closest the open back door. Wheels up at 7:43a. The skyscrapers and dense neighborhoods of Seoul were barely visible through thick fog as we lifted. At 8:01, your pool was informed there had been a bad weather call and at 8:08a we landed back at Yongsan. Sanders said we would wait 10-20 mins and try again, weather-permitting. After nearly an hour of holding, we boarded the motorcade."

-- TRUMP at the South Korean national assembly, per the White House: "Today, I hope I speak not only for our countries, but for all civilized nations, when I say to the North: Do not underestimate us, and do not try us. We will defend our common security, our shared prosperity, and our sacred liberty."

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THE PRESIDENT also congratulated Park Sung-hyun, who won the U.S. Women's Open this year at Trump National. "The Women's U.S. Open was held this year at Trump National Golf Club in Bedminster, New Jersey, and it just happened to be won by a great Korean golfer, Sung-hyun Park. An eighth of the top 10 players were from Korea. And the top four golfers -- one, two, three, four -- the top four were from Korea. Congratulations. (Applause.) Congratulations. And that's something. That is really something." 

THE WHITE HOUSE described this speech as historic to reporters on Air Force One, per poolers Mark Landler of the NYT and our own Andrew Restuccia. 

-- IN CHINA, Trump and Chinese President Xi Jinping toured the Forbidden City. Photo http://go.politicoemail.com/?qs=27592e23888b7f063840c0f822945e9e143bba52f5effd8aa4a10a5172dc83e0d80f1334118e484b02f2cb99ec8bbbe9 

--"Jumping children, soldiers greet Trump at Beijing airport" -- AP/Beijing: "The ceremony accompanying Trump's arrival at Beijing's airport on Wednesday afternoon was elaborate even by China's lavish standards. ... As he exited Air Force One, Trump and his wife, Melania, were met by Chinese and American dignitaries, soldiers standing stiffly at attention, a band playing martial music and smartly attired children waving miniature Chinese and American flags while chanting 'Welcome, welcome.' 

"As Trump's motorcade pulled away, the tempo increased, with children jumping up and down while they waved and chanted. The president and first lady appeared pleased, smiling and accepting flower bouquets, with Trump at one point throwing his arms open and appearing to exclaim 'Wow.'" http://go.politicoemail.com/?qs=27592e23888b7f06f49f4be62dc392fa0590ed2bf8f27d7da5da839b2d6b8d3707e857f5fbe7014eb3aa32c5ba8f6665 

--AP at 5:31 a.m.: "BEIJING (AP) - Chinese, U.S. companies sign deals the 2 sides say are worth $9 billion during Trump visit."

INSIDE TRUMPWORLD -- "Tee times, smoothie diets, and fat paychecks: A look inside post-Trump life," by Josh Dawsey and Matt Nussbaum: "Steve Bannon now only flies by private plane - and has his own small security team that surrounds him 24 hours a day. Reince Priebus spends Friday afternoons at the swanky Belle Haven Country Club in Alexandria, sipping Heineken on the patio and trying to break 90 over 18 holes. He is charging at least $50,000 to give private talks about the White House to CEOs and carries a phone that seems to ring non-stop. ...

"There have been few constants in Trump's White House, but personnel churn has proven one. Much of his inner circle has turned over since he took office, a remarkable pace surpassing any other West Wing in decades. Among the departures are a dizzying array of names: Flynn, Priebus, Bannon, Sebastian Gorka, Michael Short, Marc Lotter, Anthony Scaramucci, Tom Price, Keith Schiller, George Gigicos, George Sifakis, Michael Dubke, Katie Walsh, Josh Pitcock, Ezra Cohen-Watnick and even the White House usher.

"Some are richer and cashing in on their work with the president. Some face significant legal risks. And some of them are just content to be out of the spotlight. But all of them seem happy about one thing: The morning tweets are no longer their problem." With mini profiles of Bannon, Priebus, Sean Spicer and Michael Flynn  http://go.politicoemail.com/?qs=27592e23888b7f0661273e154f97c7af699f538c25add6dcfd09400d5f2f894b527e38942d553b0e072b5bb8af1f3648

FOR THE RECORD BOOKS -- "Ryan breaks record for shutting down floor debate," by Rachael Bade: "Paul Ryan vowed an end to the much-despised, top-down approach of his predecessor when he took the speaker's gavel in 2015, promising a House that's 'more open, more inclusive, more deliberative, more participatory.' 'We're not going to bottle up the process so much and predetermine the outcome of everything around here,' he said in his first press conference as speaker. But two years later, the House Rules Committee, which is controlled by the speaker, just set a new record for the most closed rules in a session - barring lawmakers for the 49th time from offering amendments on a bill. Ryan has
 yet to allow a single piece of legislation to be governed by an open rule, which allows members to propose changes on the floor." http://go.politicoemail.com/?qs=27592e23888b7f062050f2c59c45e13ba4fbb0568f0d56dc722f20d577bef8a7e145d189e5d820ce4934e835579ecd8f

ON TAX REFORM -- "Trump, wooing Democrats, says he asked accountant how he'd be affected by GOP tax bill," by WaPo's Mike DeBonis and Ed O'Keefe: "President Trump on Tuesday made a personal appeal from across the globe to ask moderate Senate Democrats to support the emerging Republican tax plan, saying he has explored the impact of the plan on his personal finances and believes it won't help the rich. ... Trump pitched the plan as a benefit to the middle class that comes at the expense of the rich - an assessment at odds with independent tax experts who have analyzed the bill and concluded the bulk of its benefits go to corporations and the wealthy. 

"Trump told the senators that he has spoken to his own accountant about the tax plan and that he would be a 'big loser' if the deal is approved as written, according to multiple people in the room who heard the president on the phone. 'The deal is so bad for rich people, I had to throw in the estate tax just to give them something,' Trump said, according to the people, who spoke on the condition of anonymity to share details of the meeting." http://go.politicoemail.com/?qs=27592e23888b7f0660f81c1799fa32872606b6de1531b3038eedc6d19f60f25758e95eb863d1e239413f93f37ea94fdc

-- "Tax hike reports throw Republicans on political defensive," by Brian Faler: "House Republicans are on the defensive after a new analysis, the latest in a string, shows that some middle-income people would see tax increases under their plan to rewrite the tax code. While most taxpayers -- 61 percent -- would see their taxes fall in the next two years, almost one-fifth would pay higher taxes by 2027, the Joint Committee on Taxation said Tuesday. That year, 46 percent would get a tax cut while more than one-third would see only minimal changes in their tax bills, totaling less than $100. It promises to be an explosive issue, especially given President Donald Trump and other Republicans'
 promises to make the middle class the focus of their tax plans." http://go.politicoemail.com/?qs=27592e23888b7f0692bcfc5aa12c045f35ce25e55a75ad1a7b558aa944bf71133f1b0613449bb20c9755baaf8c52e342

-- IMPORTANT: "Senate GOP tax bill could delay corporate tax cut and make other major changes that break sharply with House plan," by WaPo's Damian Paletta, Mike DeBonis and Ed O'Keefe: "Senate Republicans on Tuesday were considering a starkly different approach to overhauling the tax code than their House colleagues, weighing a delay in the implementation of a major corporate tax cut and other measures to alter the cost and impact of the plan.

"Senate leaders were exploring postponing the centerpiece of the effort -- an $845 billion corporate tax cut -- until 2019, according to four people familiar with a draft of the legislation. The move would make it easier to comply with Senate rules that aim to limit any legislation's impact on the debt.

"At the same time, Republican senators were planning to eliminate the state and local tax deduction, going further than the House, which retained part of the popular tax break, said the people familiar with the matter, speaking on the condition of anonymity because they were not authorized to discuss sensitive deliberations. Senators also were debating how to ensure that fewer of the plan's benefits flow to the wealthy and more flow to the middle class." http://go.politicoemail.com/?qs=27592e23888b7f06fae316b4770315110a30126371953f8190e5fecd3af3d883cab3d3637366320d1b9989bb2bf692b7 

-- IT'S WORTH NOTING: The corporate rate is sacrosanct for many House Republicans, and behind the scenes, President Trump has taken a very hard line on the 20-percent rate. Eliminating the state and local tax deduction would be a big problem for the Republican lawmakers from New York, New Jersey and California. Keep in mind that the high-tax states are represented by Democrats in the Senate. 

SOMETHING TO WATCH -- "Obamacare sign-ups surge despite Trump cuts," by Paul Demko: "Obamacare's open-enrollment season is off to a booming start despite widespread fears the Trump administration is seeking to sabotage the sign-up period. The number of individuals signing up for coverage through HealthCare.gov during the first week of open enrollment is 'roughly double' the pace of the previous year, according to an HHS source familiar with the enrollment data. It's way too early to determine whether more Americans will ultimately sign up for coverage this season. One big reason to treat the initial surge with caution: The enrollment period is just six weeks long, half the length of last
 year's sign-up period." http://go.politicoemail.com/?qs=27592e23888b7f06cae7a29372f6afffe4bb5bc8508e59a75d33b16db0c2b55f0d270e80fb2363b09472d65a74c8f3f2

TEXAS UPDATE -- "Texas church gunman escaped mental health facility in 2012 after threatening military superiors," by WaPo's Eli Rosenberg, Mark Berman and Wesley Lowery: "The gunman who killed more than two dozen people in a small church outside San Antonio on Sunday had a string of troubling episodes in recent years, including an escape from a mental health facility in 2012 after he was caught sneaking guns onto an Air Force base 'attempting to carry out death threats' against military superiors, according to a police report." http://go.politicoemail.com/?qs=27592e23888b7f062e33071528d0b517d32b540221688e27ee8d469372591831c4ff88e2a2cf7d5cd22cd96bb0796fb5

--"Air Force secretary says Texas shooter was a 'serious problem' in the Air Force" - CBS News: http://go.politicoemail.com/?qs=27592e23888b7f06f34b3a7851ad9cbcb145500184dc0e292118e3835150a25fe15e103952ff4f893164dd350a8ce52f 

-- "Senators look to bolster background check system after Texas shooting," by Seung Min Kim: "Senate Majority Whip John Cornyn (R-Texas) is speaking privately with at least three Democratic senators about legislation that would better ensure the criminal histories of potential gun buyers are properly transferred to the FBI's National Instant Criminal Background Check System. Separately, Sens. Jeff Flake (R-Ariz.) and Martin Heinrich (D-N.M.) said they are working on legislation meant to ensure all domestic violence convictions in the military are captured in the federal database." http://go.politicoemail.com/?qs=27592e23888b7f06e29a305a14a5539fdde26bd5f0f252294cc3ddfa28cf0f62b393079b774c5a735f87b43e107bc6b9

POLITICO GETS RESULTS -- "Congresswoman's top aide suspended after harassment claims," by Rachael Bade and Heather Caygle: "Rep. Brenda Lawrence has placed her chief of staff on leave following allegations of sexual harassment by former employees, her office confirmed to POLITICO. The Michigan Democrat suspended Dwayne Duron Marshall after POLITICO reported Tuesday on four former staffers' accounts of how Marshall treated women in the office. The aides said he made frequent comments about their looks and engaged in occasional unwanted touching - something Marshall firmly denied in a statement." http://go.politicoemail.com/?qs=27592e23888b7f06147b8460faae6f9b6b75b745e2536f98de77cc03e668b69c69e5e09b39908f83fb8fc1902b8d7791

VP MIKE PENCE is going to Texas today to visit victims of the shooting. Flying with the VP: Karen Pence, Attorney General Jeff Sessions, Reps. Will Hurd (R-Texas) and Henry Cuellar (D-Texas). Local law enforcement will brief the group, and they'll participate in a prayer vigil.

          Playbook Reads         

PHOTO DU JOUR: Virginia Governor-elect Ralph Northam celebrates his campaign victory with Dorothy McAuliffe, wife of Virginia Gov. Terry McAuliffe (left), and his daughter and wife Aubrey and Pam (right), at the Northam for Governor election night party at George Mason University in Fairfax, Va., on Nov. 7. | Cliff Owen/AP Photo

FIRST PERSON - "I Dined With Alwaleed in the Desert Days Before His Arrest: Watching soccer, talking politics, with the billionaire Saudi prince," by Bloomberg's Erik Schatzker: "On my first trip to Saudi Arabia in 2010, Alwaleed gave me a five-day tour of his business interests, properties and lifestyle. ... The prince let me explore his palace, with its 400-odd rooms, and we visited his apartment on a high floor of Riyadh's Kingdom Tower, the 'resort' overlooking a canyon on the outskirts of the city and his old desert camp. 

"We ate meals together, played with his grandchildren, went on a bicycle ride and shot pool in his outdoor living room. We even got caught in a sandstorm. The prince depended on a staff that numbered in the hundreds: chefs, florists, travel coordinators, personal security, pilots and more. He didn't have one private jet; he had several, including a gold-trimmed Boeing 747." http://go.politicoemail.com/?qs=27592e23888b7f06f205bb7c9f65d91483ed02e2dd420585def1c23456b4fb0d9a45d711eedbb03078ea7f3d27118e04

-- "Saudi Crackdown Targets Up to $800 Billion in Assets," by WSJ's Margherita Stancati in Beirut and Summer Said in Dubai: "The Saudi government is aiming to confiscate cash and other assets worth as much as $800 billion in its broadening crackdown on alleged corruption among the kingdom's elite, according to people familiar with the matter. ... The crackdown could also help replenish state coffers. The government has said that assets accumulated through corruption will become state property, and people familiar with the matter say the government estimates the value of assets it can reclaim at up to 3 trillion Saudi riyal, or $800 billion." http://go.politicoemail.com/?qs=27592e23888b7f0620de71b7fc9d943c9a36766d01380e5a1976322086dd51d12e0b796135bda995ecad35a762c96ca5

NEW WOMEN RULE PODCAST -- What Actually Did Happen? -- 365 days later, POLITICO Editor Carrie Budoff Brown looks at Election Day 2016 through the perspectives of five women who worked for different presidential candidates. In this exclusive POLITICO Women Rule podcast, Symone Sanders, Pam Bondi, Jennifer Palmieri, Catherine Frazier and Jessica Ennis share their experiences, memories and takeaways from inside the campaigns and outline what they think the next woman who runs for president needs to do to win. Tune in http://go.politicoemail.com/?qs=27592e23888b7f0650c1b28e934ac1a3ee5676f8c9df3570658951260cda20b884dc374c25088dac7421b06032ec7d38

OBAMAWORLD -- "Barack Obama is building a library -- and grappling again with Chicago politics," by WaPo's Krissah Thompson in Chicago: "When the Barack Obama Presidential Center opens in 2021, it will sprawl across 20 acres on this city's densely packed South Side. A museum will occupy one towerlike building; another, dubbed 'The Forum,' will house a test kitchen, recording studio and auditorium. The library itself won't literally house his papers, since they plan to digitize everything, but will feature a rooftop park to complement the complex's community garden, sledding hill and playground. The 44th president says he wants it to serve not as a monument to himself but to bigger ideals --
 democracy, citizenship, civic engagement. Still, Chicago Sun-Times columnist Lynn Sweet spoke for many when she predicted that the complex will one day be known around here as 'Obamaland.'" http://go.politicoemail.com/?qs=27592e23888b7f066b1ef86ec42009f428ff864d5a0574506cc3532d13bfe4ff106dafb3a27c536ec0fb4b7ff9085794

BEN WHITE talks with LARRY SUMMERS in Brookline, Mass., for his latest POLITICO Money podcast: "Larry Summers thinks it's 'crazy' that President Donald Trump spends so much time bragging about how great he's been for the stock market. The former Treasury secretary and current Harvard professor argues that Trump, who tweets regularly about new stock market records, is setting himself up for a crushing blow if markets tumble. 'It's crazy for a president to wrap himself in the stock market,' Summers said in an interview for the POLITICO Money podcast from his home in this leafy Boston suburb. 'The market goes up and the market goes down and if you take credit when the market goes up, I don't
 see how you can avoid taking responsibility when the market goes down.'" http://go.politicoemail.com/?qs=27592e23888b7f0623d921a26d78e3da39f2603788dcf367f17f42d203ffcb54d3b51e6c6471827e1b98a0dcb985449d ... Listen to the podcast http://go.politicoemail.com/?qs=27592e23888b7f06b8c5d78bf8afb9edb3bb264ae65953b4405ce009840c3ca0a7a1230420e1d2d1f7073186eb7e70b5

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THE NEW GILDED AGE -- NYT A1, "How Business Titans, Pop Stars and Royals Hide Their Wealth: Records from an offshore hideaway show how an American billionaire grew one of the world's largest trusts and another owned part of a company accused of exploiting the poor," by Scott Shane, Spencer Woodman and Michael Forsyth: "Appleby had 31,000 American clients, the most common nationality by far. The firm's files include a who's who of the nation's wealthiest citizens: prominent Democrats like George Soros, the financier and philanthropist, and Penny Pritzker, commerce secretary in the Obama administration; and high-profile Republican supporters of President Trump, including Sheldon Adelson, the
 casino magnate, and Carl Icahn, the private equity investor." http://go.politicoemail.com/?qs=27592e23888b7f06f9ba667a1ebcedb36ccd37e3e6b4837555fcdbd60f61357faac99e50868349493fe7f7673ad681b2 

HMM -- "Senator Menendez Juror Asks Trial Judge: 'What Is a Senator?'" by Bloomberg's David Voreacos and Neil Weinberg: "U.S. District Judge William Walls declined to answer the question, and he refused that juror's request for a transcript of Monday's closing argument by Menendez's attorney, Abbe Lowell. The panel had returned to the Newark, New Jersey, federal courthouse Tuesday after spending about 75 minutes deliberating the day before. Walls told jurors that they should rely on their individual and collective memories to determine how to define a senator." http://go.politicoemail.com/?qs=27592e23888b7f062a5b8705836d2279a2b19047378296ad92ae8341d64f46bf088a1bbf34fa595993ccf2a91bb7006e

MEDIAWATCH -- @mlcalderone: "NYT terminates relationship with David Boies over his 'reprehensible' work for Weinstein to spy on paper's reporters" http://go.politicoemail.com/?qs=27592e23888b7f0648ac1e8ab9c1b188a52071c47094b5294cb3ac2d4d039f0c55f2812226a2887cfa1d2de164c466df

-- REMEMBERING SARAH PORTLOCK - WSJ editor Gerry Baker emails the staff: "I'm deeply saddened to tell you that Sarah Portlock, our colleague who suffered a brain injury in March while pregnant with her daughter, died suddenly [Monday]. Our thoughts and prayers are with her husband, Sam, and daughter, Aviva ... Sarah will be remembered by colleagues in Washington and New York as a warm and kind colleague ... the organizer of cards and gifts when someone had a new baby or got married; the planner of team-building happy hours; and the cheerleader of friends and colleagues when they landed a big scoop, finished a big project or received some recognition for work well done. ... Sarah joined The
 Wall Street Journal in June 2012 as an economics reporter, where she developed deep friendships with a number of colleagues." How to support her family http://go.politicoemail.com/?qs=27592e23888b7f0626988fb05cd5626afd83771a59f8523d33d815d77387bf6120b63b3c0e717e92ed3640ea2f863f16 

PETER HAMBY writing for Vanity Fair's Hive: "HOW TRUMP BROUGHT THE POLITICAL MEDIA CLASS TO ITS KNEES": http://go.politicoemail.com/?qs=27592e23888b7f068d9105a7afb9982251807b467af087251045f99ad7a53c894d5dbe413101e55dcfea29a2caebe5eb

                  Playbookers         
SPOTTED: Sen. Rob Portman (R-Ohio) with his wife Jane at Cava last night in Eastern Market ... Max Scherzer having lunch yesterday with Sen. Jeff Flake (R-Ariz.) at Bistro Bis ... former Rep. Patrick Murphy (D-Fla.) talking at DCA with Alex Castellanos after Castellanos deplaned on an American flight from Miami to Washington and Murphy waited to board.

TRANSITIONS -- Erin Collins has joined the NRCC as deputy press secretary. She previously worked for Rep. Bruce Poliquin (R-Maine).

BIRTHDAY OF THE DAY: "ABC World News Tonight" anchor David Muir is 44. He "celebrated over the weekend with some close friends at [NYC Vietnamese-French restaurant] Indochine. One of my favorite spots. And Kelly Ripa promised me a cake tonight. I'm not kidding." A fun fact about David: "I wear jeans every night at the desk. It's not a fun fact, but it's a comfortable one." Read his Playbook Plus Q&A: http://go.politicoemail.com/?qs=27592e23888b7f0632fa907bea8c9e0e5bd241739129f3c72f4c4d711d11929549beee9a2a3854bd2f0941b558444bbc 

BIRTHDAYS: Shushannah Walshe, deputy political director at ABC News ... Bush 43 alum Michael "Brownie" Brown, now a talk show host in Denver ... Richard Socarides ... Casey Hernandez (h/t fianc&eacute; Paul Rosen) ... Jill Shatzen Kerr ... Anthony Reedy ... Leon Fresco, partner in global immigration law and policy at Holland & Knight ... Wayne Berman, Blackstone senior advisor for global government affairs (h/t Lisa Lyttle) ... Ira Magaziner, vice chairman and CEO of the Clinton Health Access Initiative, is 7-0 (h/ts Jewish Insider) ... Politico's Roger Jeannotte ... Erin Cohan, director of state and local affairs at CAP, celebrating in Isla Mujeres, Mexico ... Carolyn Walser, director of
 scheduling for Sen. Baldwin, who "celebrated this weekend with many bottles of ros&eacute; at Maxwell" (h/ts Allison Preiss, filing from Mexico) ... Peter Kadzik (h/t wife Amy Weiss) ... Frank Jimenez ...

... WaPo's Tory Newmyer (h/t Tim Burger) ... Erin Galloway ... Lucy Bradlow, VP of GPG, "celebrating at Anthem with Grizzly Bear (the band, not the vicious animal)" (h/t Sean Kennedy) ... Politico Europe's Ivo Da Rocha Oliveira ... Courtney Stamm ... Karen Sherman (h/t Jon Haber) ... Nicholas Swails ... Tom Connors ... Charlie Posner, a CAP alum now an MBA candidate at Yale ... Samantha Sher ... Christopher Martin, an attorney at Cooley in DC, is 36 ... Gail Shea Nardi ... Karen Fragala Smith ... Bob Jones, partner at Alston Bird ... Marissa Rauch ... Carolyn Walser ... Rich Taylor (h/t Dan Hewitt) ... Laurie Moskowitz ... George Twigg ... Beth Bernard ... Bill Wimmer (h/ts Teresa Vilmain)

****** A message from Morgan Stanley: It has become commonplace for consumers to see new footwear styles online and shop for them instantly-followed by speedy delivery. For the world's largest athletic brands, the shift toward "new and now" poses both a challenge and an opportunity. Revamping the lengthy design and manufacture process for footwear can be arduous, while streamlining the process to incorporate new technology for creating prototypes and 3D printing can speed production of key materials. These and other innovations could boost revenues, improve margins, reduce operational risk, and finally, win more market share in an already booming category. Since 2007, global sales of
 athletic wear have increased 61%, and faster supply chains can help sustain that growth for years to come. As brands shift investments toward digital design and automated manufacturing, digitization could have a significant impact on supply chains. Read more. ******

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