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Bloomberg: Biden Team In Touch With Warren Buffet; Major Central Banks Team Up To Keep U.S. Dollars Flowing; Sources; Georgia Prosecutors Weigh Racketeering Charges In Election Probe; Stephen Smith's Family Hopes To Exhume Body For Private Autopsy. Aired 3:30-4p ET

Aired March 20, 2023 - 15:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[15:30:00]

JESSICA DEAN, CNN HOST: Bloomberg is reporting Berkshire Hathaway's Warren Buffett has been in touch with the Biden administration in recent days. The calls have apparently focused on the regional banking crisis, like the collapse of Silicon Valley Bank. CNN has not independently confirmed these calls.

BORIS SANCHEZ, CNN HOST: We're joined by CNN's Matt Egan. Matt, tell us what you know about this. They obviously don't call him the "oracle" for nothing, right?

MATT EGAN, CNN REPORTER: That's right, Boris. Warren Buffett has a long history of betting on America including during times of stress. I mean, back in 2008, September 2008, he invested in Goldman Sachs. Then in 2011, he put a lot of money into Bank of America. Now Bloomberg is reporting that Buffett has been in touch with Biden officials for two reasons. One, is to provide some advice as they deal with this banking crisis but also to discuss the potential investment in regional banks.

And you know, we know Warren Buffett is no strange to the banking sector. I mean, his holding company, Berkshire Hathaway holds stakes in a series major financial companies including Citi and American Express, U.S. Bancorp, Bank of America, Visa.

[15:35:00]

Now we should note that neither the White House nor treasury are confirming this, we've reached out to Berkshire Hathaway, haven't heard back. But obviously, an investment from the Oracle of Omaha would be one way to restore confidence in the banking system.

Now if we could take a look at how regional banks are doing today, they've been mixed. Trying to rebound after last week's selloff. You can see First Republic Bank dropped down 48 percent. And you know, and the last few minutes a U.S. official briefed reporters on what is going on in the banking sector, and this official says that the stabilization of bank deposits at small and midsize banks that has continued not just through the end of last week, but including today.

And this official stresses that these swings that we're seeing in the stock market has been in no way correlated to what they're seeing in terms of bank deposits -- which is good news I would think. But this official also tells us about how uninsured deposit outflows they've either slowed or stopped or in some cases reversed. Basically all of the major banks that we've been talking about. So, I think all of this is encouraging, and we hope to see this trend continue because it would show that confidence is returning here.

DEAN: Yes, certainly a turn in the right direction. Matt Egan thanks so much for that reporting. We appreciate it.

And we're joined now by CNN contributor Evan Osnos. He's a staff writer for the "New Yorker" and author of "Joe Biden the Life, the Run and What Matters Now." Evan, great to see you. You've literally wrote the book on the president. It's not uncommon for business leaders to talk to the administration or even the president and then to have those kinds of conversations. That's happened a lot. But help us understand how President Biden -- how Joe Biden, the man, kind of takes in that sort of outside counsel.

EVAN OSNOS, CNN CONTRIBUTOR: Yes, I mean, there are business leaders and then there's also Warren Buffett. You know, he has, of course, Jessica, this kind of unique power to convey stability to the markets, to the public at large. I think if that report is true, that's a sign, one, they're going outside to get somebody whose advice is considered -- you know, he's not working for the bank. He's somebody who has stepped in, in the past to try to stabilize the situation in 2008, again in 2011. But he can also give them counsel that says, here's what it takes to make sure we don't make some of the same mistakes that have been made in the past. That's important too.

SANCHEZ: And Evan, not surprisingly, Republicans were quick to criticize the president not only for the instability in some of these smaller or regional banks but also for the response to them as well -- for intervening in banks that ultimately aren't essential to the whole banking system. How much exposure do you think this mini crisis might wind up creating for President Biden, if he decides to run for re- election?

OSNOS: Well, you know, as is often the case, Boris, with Joe Biden there's history here, right. He lived through 2008 and 2009, first as a Senator and then in 2009 when he was vice president. And he has a couple of things on his mind. One, is he's drawing a very clear distinction between, you know, quote, unquote, bailing out the banks. What you saw in 2008 that it was an effort to try to shore up banks that were in trouble.

They're not doing right now -- they're not putting taxpayer money into it. We've heard them say this over and over again. They want to make sure that there is an understanding that the money that is being used in this case is coming from other banks. Or it's coming from insurance premiums that banks themselves have paid to shore up depositors. So, if he's drawing that distinction to say we are trying to protect people who put their money into these banks.

But at the same time, they are calling for Congress to impose tougher rules on bank executives who mismanaged risks and makes mistakes. Try to claw back some of that income, maybe impose fines. So, there is a real effort to learn from the legacy of 2008 and not make the same mistakes politically that they have exposed Democrats the last time.

DEAN: And you know, Boris just alluded to a future potential run in 2024. I've got to tell you, Evan, anywhere I go, that's what everyone wants to know, is Joe Biden running. Is he going to run for re- election? I don't profess to have any -- you know, none of us have crystal balls, we certainly have reporting. And you again as the author of the book on him have a lot of insight on who he is as a person and how the family operates when they are making these decisions. As we sit here today now, what are your thoughts around that?

OSNOS: Well, you know, he and those around him, including Ron Klain in an interview with me not too long ago, has said every which way that he has the intention of running. We're not going to know until the very last minute, Joe Biden makes these decisions sometimes right down to the wire.

But I think it's not an accident you that heard from the Biden administration, the president starts talking about the fact that it was in fact deregulation under the Trump administration that contributed to this kind of frailty in the regional banks that we're seeing now. You know, that's taking a shot in advance at a potential opponent in the 2024 campaign.

[15:40:00]

They are not letting voters avoid the knowledge that in fact there were mistakes that were made under the previous president that might have prevented this crisis from emerging today.

SANCHEZ: Now perhaps also not a coincidence that we've seen this White House make moves recently that skew more towards the center like the D.C. crime bill and immigration and a number of other things. Evan Osnos, thank you so much for the time.

OSNOS: My pleasure.

DEAN: Just weeks after the double murder conviction of Alex Murdaugh, the family of the teen who was found dead near the former South Carolina attorney's property is now hoping to exhume his body for a private autopsy. What Murdaugh's only surviving son is saying about this. That's next.

[15:45:00]

(COMMERCIAL BREAK)

SANCHEZ: Sources tell CNN that Atlanta-area prosecutors are considering racketeering and conspiracy charges in connection to Donald Trump's effort to overturn Georgia's 2020 election results.

DEAN: CNN political correspondent Sara Murray is here with us. And Sara, these sources say prosecutors believe this is not just a homegrown effort but one that extends outside state lines. What evidence are Georgia prosecutors working with here? SARA MURRAY, CNN POLITICAL CORRESPONDENT: Well, look, they have a lot

of evidence they're sifting through. I mean, remember that special grand jury that was seated for months and months, heard from 75 witnesses, heard from a number of associates and allies of Donald Trump who were working not just in Georgia to push these claims of election fraud but were also working across a number of different states.

We also know there are at least three recording where Donald Trump is on tape pressuring Georgia officials around the 2020 election results. But I think, you know, one of the things the district attorney there is looking at, is whether you can build a case, essentially that Donald Trump and his allies are part of this criminal enterprise. That would be the potential racketeering case and really make the argument that this is something that originated from the top down, not the bottom up.

Again, no decisions have been made yet about who to bring charges against. Whether to bring charges against anyone. In January, the district attorney said those decisions were imminent. So, we're getting a sense of what imminent means, at least when it comes to a district attorney.

SANCHEZ: And Trump and his legal team, their attempt to have this all dismissed, the timing definitely not a coincidence with what's going on in Manhattan, Sara Murray, thank you so much.

The cast of "Ted Lasso" took biscuits with the boss to a whole new level today with President Biden. Details on their visit, straight ahead.

[15:50:00]

(COMMERCIAL BREAK)

DEAN: New today, the only surviving son of convicted murderer Alex Murdaugh is speaking out for the first time on the death of his former high school classmate Stephen Smith. Buster Murdaugh is slamming what he calls, quote, baseless rumors that he was involved with the 19- year-old's death back in 2015.

SANCHEZ: The lawyers for Smith's family are hoping to have the body exhumed for a private autopsy. Those lawyers and Smith's mom are also speaking out today. CNN's Dianne Gallagher has been following all the latest details for us from Charlotte, North Carolina. Dianne, there's so much happening today with this case. But I'm wondering, after all of these years, why the push now to exhume Smith's body?

DIANNE GALLAGHER, CNN NATIONAL CORRESPONDENT: So, I think that Sandy Smith, the mother of Stephen Smith, would say that she would have done this years ago if she knew it were possible and if she had the money to do so. And part of the reason why she's able to try for this right now and, look, her attorneys still have to petition a judge to get permission to exhume his body, is because of roughly $70,000 worth of donations she's been given through her GoFundMe. Much of them coming from the those who followed the Murdaugh double murder trial online. Millions of people watch that of course unfold.

Alex Murdaugh was convicted in the murders of his wife and his son earlier this month. And look, there is no direct connection between Buster Murdaugh and Stephen Smith. Aside from the fact they went to high school together. But there's been a lot of innuendos, there are a lot rumors that have been included on documentaries and podcasts, on social media.

And much of that stems from a 2021 announcement from the State Law Enforcement Division when they announced they were opening an investigation into Stephen Smith's 2015 death, quote, based upon information gathered during the course of the double murder investigation of Maggie and Paul Murdaugh.

Now, look, Smith's death remains unsolved. Investigators have never revealed what that information was that they gathered. But Buster Murdaugh speaking out for the very first time today saying that he had remained silent about -- in his words -- these vicious rumors because he was going through his father as trial and grieving the death of his mother and his brother.

But said today: These baseless rumors of my involvement with Stephen and his death are false. I unequivocally deny any involvement in his death and my heart goes out to the Smith family.

Now, Stephen Smith's mother and attorneys speaking today about this new investigation -- private investigation -- going forward saying they're going to go wherever it leads them.

DEAN: All right.

(BEGIN VIDEOTAPE)

ERIC BLAND, LAWYER FOR THE SMITH FAMILY: We're going to hire experts who are going to come into this case with a fresh set of eyes, with an open mind, without any preconceived conclusions, being objective and wherever the facts go, that's where the investigation will go.

SANDY SMITH, STEPHEN SMITH'S MOTHER: I just love my son. And since I couldn't protect him, I'm going to fight for him. I want to thank everyone who's donated and supported us from the beginning. And but I hope to find the real reason for Stephen's death. And the real why.

(END VIDEOTAPE)

GALLAGHER: And of course, they initially said that his death was a result of a hit-and-run. But investigators on scene, Boris and Jessica, said that his death and the scene itself did not match with that of a hit-and-run or even being hit by a vehicle.

[15:55:00]

This private investigation is concurrent to SLED's investigation going on into this. We asked them this weekend how that was going. SLED said that they have made progress in the death investigation of Stephen Smith, but they said that it remains active and ongoing. DEAN: All right, more to come, Dianne Gallagher, and Charlotte, North

Carolina. Thanks so much for that update.

We've got just minutes left in the first trading day of the week. Stocks are well in positive territory after UBS said it would buy embattled Credit Suisse. We've got more on that just ahead.

(COMMERCIAL BREAK)

[16:00:00]

SANCHEZ: TV's fictional soccer coach Ted Lasso played by actor Jason Sudeikis is taking some time off the pitch. The entire cast dropping in on today's White House press briefing.

They're also going to meet with the president and first lady to discuss the importance of addressing mental health.

SANCHEZ: Ted Lasso is a good-natured coach who seeks therapy after grappling with panic attacks.

Hey Jessica, this was fun today. We should do it again maybe this entire week.

DEAN: I think we shall. We should. We shall. We well. All right, Boris thanks so much. I'm Jessica Dean along with Boris Sanchez, "THE LEAD" with Jake Tapper starts right now.