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Today's Playbook Power Briefing presented by Morgan Stanley

By JAKE SHERMAN (sherman@politico.com; @JakeSherman), ANNA PALMER (anna@politico.com; @apalmerdc), DANIEL LIPPMAN (daniel@politico.com; @dlippman) and ZACH MONTELLARO (zmontellaro@politico.com; @ZachMontellaro)


WHAT THE PRESIDENT HAS BEEN UP TO ... He spoke with FRENCH PRESIDENT EMMANUEL MACRON ... White House readout: "Both leaders expressed support for the West's strong response to Russia's chemical weapons attack in Salisbury, United Kingdom, including the expulsion of numerous Russian intelligence officers on both sides of the Atlantic. President Trump stressed the need to intensify cooperation with Turkey with respect to shared strategic challenges in Syria. The two leaders also discussed trade practices between the United States and European Union and the next steps in addressing China's unfair trade practices."

-- TRUMP ALSO SPOKE WITH GERMAN CHANCELLOR ANGELA MERKEL: "Both leaders praised the joint announcements from North Atlantic Treaty Organization Allies, European Union member states, and other partners to expel undeclared Russian intelligence officers in solidarity with the United Kingdom and in response to Russia's reckless use of chemical weapons. The President and the Chancellor discussed joining forces to counter China's unfair economic practices and illegal acquisition of intellectual property. They also discussed leveling the playing field on tariffs and the crisis with North Korea."

Good Tuesday afternoon. HOW MITT ROMNEY IS POSITIONING HIMSELF ... per the Daily Herald in Provo: "Romney went so far as to say he's more conservative on certain issues than President Trump. 'For instance, I'm a deficit hawk ... That makes me more conservative than a lot of Republicans and a lot of Democrats. I'm also more of a hawk on immigration than even the president. My view was these DACA kids shouldn't all be allowed to stay in the country legally.' ...

"'(Trump) has endorsed me in this race,' Romney said. 'He respects people who speak their mind, because now and then, as you know, if he says something I think is wrong, I'll point it out. And if he disagrees with me, he points it out even harder.' ... 'There are times when the president may have said something that is either racist, or anti-woman, that is divisive,' Romney said. 'And if that happens, I'll call him out on it.'" http://go.politicoemail.com/?qs=d8b8d2d3213932acea18ac051395f9d71004ee13dc00979d70db67726ba525c932416c8184c5f47392b1156c7d453d3f

WE GOT A FLOOD of emails this morning when we mentioned that it might be tough for the Senate to confirm Pete Hegseth as VA secretary should the president fire David Shulkin.

-- ANOTHER REASON Hegseth isn't the favorite of top Senate Republicans -- consider this quote from Friday on Fox News: "This is a swamp budget. This is a Mitch McConnell special. The GOP is not the party of fiscal responsibility. Apparently it's the Democrats who control the process. If Nancy Pelosi and Chuck Schumer are happy, then the American people shouldn't be." This won't help him get quick consideration in Mitch McConnell's Senate.

POLITICO INVESTIGATION -- DANNY VINIK: "How Trump favored Texas over Puerto Rico": "A POLITICO review of public documents, newly obtained FEMA records and interviews with more than 50 people involved with disaster response indicates that the Trump administration -- and the president himself -- responded far more aggressively to Texas than to Puerto Rico. ...

"No two hurricanes are alike, and Harvey and Maria were vastly different storms that struck areas with vastly different financial, geographic and political situations. But a comparison of government statistics relating to the two recovery efforts strongly supports the views of disaster-recovery experts that FEMA and the Trump administration exerted a faster, and initially greater, effort in Texas, even though the damage in Puerto Rico exceeded that in Houston." http://go.politicoemail.com/?qs=d8b8d2d3213932ac40a2c0e1519563a96299185fa6069b08607beddc425adf795bfc251fb0464f019a290adc1807fc92

ELLIOTT BROIDY UPDATE: "Trump fundraiser turned to Foreign Affairs chair for help winning work in Romania," by McClatchy's Ben Wieder and Peter Stone: "Top Donald Trump fundraiser Elliott Broidy sought help last summer from the chair of the House Foreign Affairs Committee and lobbyist Rick Gates, a key figure in the Russia influence probe, as a Broidy defense company was trying to win business in Romania.

"Broidy, a Los Angeles-based investment manager and venture capitalist, attempted to use a visit by Rep. Ed Royce, R-Calif., who chairs the House panel, to Romania last August to help his defense firm Circinus and win points with some controversial political allies in Bucharest, according to emails and documents reviewed by McClatchy.

"Before Royce's trip, Broidy offered him some unsolicited advice, and documents suggest that the businessman himself was in Romania at about the same time as Royce. A spokesman for Royce confirmed that Broidy and Royce discussed the Romania trip, but said that Royce did not take his suggestions." http://go.politicoemail.com/?qs=d8b8d2d3213932ac469dd363d6b2578abc779f2b7bb404159355438452e4ef098973c71fccbedff568203022b53db3a0

READ TO THE BOTTOM -- DAILY BEAST'S BETSY WOODRUFF: "The Allegedly Murderous Oligarch, the Duped CIA Chief, and the Trumpkin: Who was behind a mysterious fake hearing in the basement of the U.S. Capitol?" http://go.politicoemail.com/?qs=d8b8d2d3213932acc0431089ddee8662744bc2aafb89ec0ca07f6d803cdac7decd16059a31cb6c83e2835485710438d6

TOP TALKER -- Former Supreme Court Justice JOHN PAUL STEVENS in NYT: "Repeal the Second Amendment": "In 2008, the Supreme Court overturned Chief Justice Burger's and others' long-settled understanding of the Second Amendment's limited reach by ruling, in District of Columbia v. Heller, that there was an individual right to bear arms. I was among the four dissenters.

"That decision -- which I remain convinced was wrong and certainly was debatable -- has provided the N.R.A. with a propaganda weapon of immense power. Overturning that decision via a constitutional amendment to get rid of the Second Amendment would be simple and would do more to weaken the N.R.A.'s ability to stymie legislative debate and block constructive gun control legislation than any other available option. That simple but dramatic action would move Saturday's marchers closer to their objective than any other possible reform." http://go.politicoemail.com/?qs=d8b8d2d3213932ac909f46034726471105bcb8c72ecfe67757d5e9f5a6c3ee7b9f46f9eebde82135db45da13d1315733

****** A message from Morgan Stanley: The long-anticipated return of volatility has arrived, shaking markets out of a relative calm. How bumpy will it get? An examination of past market sell-offs could help frame what happens next. Read more from Morgan Stanley. ******

VALLEY TALK -- ZUCKERBERG 'HAS COME TO TERMS' WITH TESTIFYING IN FRONT OF CONGRESS -- CNN'S DYLAN BYERS: "Facebook sources tell me the 33-year-old CEO has come to terms with the fact that he will have to testify before Congress within a matter of weeks, and Facebook is currently planning the strategy for his testimony. The pressure from lawmakers, the media and the public has become too intense to justify anything less." http://go.politicoemail.com/?qs=d8b8d2d3213932aca601c8e4199c96e2ce11e58107c8d1eb7e281280ae2f60794c6685b95825e55e68b62adb093f927a

MORE STEELE INTRIGUE -- "Christopher Steele's Other Report: A Murder In Washington," by BuzzFeed's Jason Leopold, Anthony Cormier, Heidi Blake, Tom Warren, Jane Bradley, Alex Campbell and Richard Holmes: "The FBI possesses a secret report asserting that Vladimir Putin's former media czar was beaten to death by hired thugs in Washington, D.C. -- directly contradicting the U.S. government's official finding that Mikhail Lesin died by accident.

"The report, according to four sources who have read all or parts of it, was written by the former British intelligence agent Christopher Steele, who also wrote the famous dossier alleging that Russia had been 'cultivating, supporting and assisting' Donald Trump. The bureau received his report while it was helping the Washington, D.C., Metropolitan Police Department investigate the Russian media baron's death, the sources said." http://go.politicoemail.com/?qs=d8b8d2d3213932ac0435cae0f8eddf9237522cc72f5e794debda1808f6e8cc753ea2bb86953dc53b9f6853c6b63a1bc4

SPOTTED: Chris Matthews in first class on an American flight to Nashville this morning -- pic http://go.politicoemail.com/?qs=d8b8d2d3213932ace736687e50a3a20334a6404013e422fc553551d9af598b84e5e731849344411fcecc61a18207f9fb ... actor JK Simmons at Del Frisco's Grille on Monday "in a black hoodie and baseball cap sharing pizza with four people," per a tipster ... actor Adam Scott on Monday at Shake Shack on F St downtown with kids in tow. He was in town for the March for Our Lives (pic http://go.politicoemail.com/?qs=d8b8d2d3213932ac23197d2fa3f76dd1a6824c6597e43cc839fc3105c193a2efe94888bf0007b2269090ba1cd9f73470 -- pic of him at Shake Shack http://go.politicoemail.com/?qs=d8b8d2d3213932ac6f949dca4643ae55eed8fde208126ed0471c8499b005eb4e4dc4869016e455edc23543a350aab453

NICE JOB IF YOU CAN GET IT -- "Wall Street Bankers Get Biggest Raise in Four Years," by WSJ's Telis Demos: "The average banker bonus in New York City was $184,220 last year, the biggest annual haul for Wall Street employees since before the financial crisis. Those bonuses, which totaled $31.7 billion, up 17% from 2016, tracks with a broader rebound for bank stocks last year, boosted by the prospects of rising interest rates, faster growth and deregulation." http://go.politicoemail.com/?qs=d8b8d2d3213932acf56c52ced4071807cfa5d833f61fd9c1abc5c0db7c3f03377a2e80412c779c235cf0478bfbf78c78

FOOL ME ONCE... -- "Democrats Know Hackers Will Be Back In 2018. The Problem? Forcing Campaigns To Care," by BuzzFeed's Ruby Cramer and Kevin Collier: "Seven months from the next election, U.S. officials agree that hackers pose an imminent threat to 2018 campaigns. And yet [Shauna] Daly and other concerned operatives see a troubling pattern across the Democratic Party: While some campaigns have taken steps to shore up their security, far too many simply don't care enough to meaningfully change their practices. And, even more alarming to some, there's been no hardline effort by party committees like the DCCC to enforce its own recommendations on cybersecurity."
http://go.politicoemail.com/?qs=d8b8d2d3213932acec783273f3248720acda0aa97e1672f8c8ada2ee603c57a028ee41dd356dc48e7a6a1b6e555078e4

MEDIAWATCH -- FIRST IN PLAYBOOK -- The Atlantic hired Christi Parsons to lead its newly formed Talent Lab, which will focus on recruitment, retention and staff development. She was previously a White House correspondent for the Los Angeles Times and was the president of the White House Correspondents' Association president in 2015.

OBAMA ALUMNI: DAVID LITT, a former Obama speechwriter and author of "Thanks, Obama," has announced a new book coming out in 2020 with publisher Ecco. He tells us: "It's called 'Parties on the Fault Line: Adventures in a Troubled Democracy -- and Why Fixing it is Easier Than You Think.' It's going to be a combination travel book about the breakdown of American government and how-to guide to restoring democracy before it's too late. But fun."

SPOTTED at the National Museum of African American History and Culture for a presentation of National Geographic's "The Race Issue": Lonnie G. Bunch III, Robert F. Smith, Gary Knell, Susan Goldberg, Colin Powell, Colorado Gov. John Hickenlooper, Haris Lalacos, Debra Adams Simmons, Eric Motley, Paula Schneider, David Thomas, Will Shafroth, Hugh Fierce, Pam Horowitz, Blake Hounshell, Kevin Merida, Michael Fletcher, Nathalie Applewhite, Donna Walker, Mike Ulica, Clint Smith III, Wayne Lawrence, Alan Fleischmann and Wendi Thomas.

REMEMBERING DAVID ARTHUR KUROKAWA - Per a friend of his: "He was a former intelligence analyst at the Pentagon, brother to Nicki Neily (president of D.C. organization Speech First), and brother in law of Cato Institute VP Clark Neily. He was laid to rest Monday at Arlington Cemetery. David, an Iraq war veteran and former army sergeant, was beloved by many in the D.C. policy community."

TRANSITIONS -- Melissa Brown started on Monday as press secretary and digital director for Rep. Paul Gosar (R-Ariz.). She previously was the press secretary for Rep. Ted Budd (R-N.C.) and is an alum of FP1 Strategies and the ACU. ... Alex Dease is rejoining Team Scalise as external affairs coordinator, where she will oversee digital fundraising efforts and political press. She most recently worked in the press office of the U.S. Trade Representative.

ENGAGED -- Will Neitzel, senior policy advisor to Wisconsin Gov. Scott Walker, proposed to Stephanie Malchine, former executive assistant to Wisconsin First Lady Tonette Walker and a University of Maryland Law School JD student. Both are from Wisconsin. They got engaged at Magic Kingdom in Disney World. Pics http://go.politicoemail.com/?qs=d8b8d2d3213932ac8d49c35963ec66c6551ca43b12a40d8cad3b82586d30a240741817c164fcda1fdeb5135c070ceff2 ... http://go.politicoemail.com/?qs=d8b8d2d3213932acd511180caba022d214f1aa1f490117d3d9025528310909c18bafc6156ed1062e5e98c9ebbed4d6b7

WEEKEND WEDDINGS -- Walter Mullon, senior manager of government affairs at Seyfarth Shaw and a U.S. Chamber alum, on Saturday married Taylor Harber, director of fundraising and investor acquisition at GOPAC and an RNC alum, in a ceremony at the Meridian House. The couple "met at Capitol Lounge following a Nats game in 2015. The wedding, which included many references to their dog, Pat, was officiated by Tyler Threadgill, chief of staff to Rep. David Kustoff. Following the beautiful outdoor wedding guests enjoyed dinner, dancing and a late night visit from the Chick-Fil-A truck." Pic http://go.politicoemail.com/?qs=d8b8d2d3213932ac167369998168404d4648527ad6ff4126f28b94853be8f249bdf337c8fab984705a181dc457c44e84

SPOTTED: Scott Binkley, Hunter Carpenter, Kathryn Gunter, Ellie and Charlie Hockenbury, Ted Prill, Kiley Smith and Emily Threadgill.

-- Katharine Nasielski, national security legislative correspondent for Sen. Bob Casey (D-Pa.), married Ben Kurland, 3L at Georgetown Law School and a DOJ alum, at the Philadelphia Academy of Fine Arts.

****** A message from Morgan Stanley: The long-anticipated return of volatility has arrived, shaking markets out of a relative calm. How bumpy will it get? An examination of past market sell-offs could help frame what happens next. Morgan Stanley analysts are tracking measures of volatility closely for signals. In previous sell-offs within this bull market (and since 2009, there have been a few), volatility tends to peak before stocks ultimately find a bottom. This happened in August 2011, August 2015, June 2016, and over time, it will become clear whether this pattern could apply again today. The takeaway for investors? Sharp declines often set up better-than-average 12-month returns. But
investors need to be ready to weather increased volatility, and choppy markets, in the immediate aftermath. These lessons seem especially relevant considering how excessively calm financial markets have been in recent months. Read more from Morgan Stanley. ******

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