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tv   The Situation Room With Wolf Blitzer  CNN  April 4, 2024 3:00pm-4:00pm PDT

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discovered region recently in the most recent solar eclipse. so this is a huge new opportunity to gather more data about the mysteries of our galaxy and communication down and here on our little blue marble, it's all right. >> bill, where in new york. thank you so much. cnn is calling this one eclipse across america and special coverage starts monday afternoon at 1:00 p.m. eastern. you can watch it here on cnn or streaming on macs until tomorrow. you can follow me on facebook, instagram x, formerly known as twitter, and on the tiktok, all of them under jake tapper, you can follow the show on x at the lead cnn, if you ever miss an episode of the lead, you can listen to the show once you get your podcasts all two hours, just sitting there like a big, big, big, big potato. let's call it that. the news continues on cnn. i'll see you tomorrow >> happening now >> breaking news a bit
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consequences how serious is this us threat to change its israel policy? i'll ask white house official john kirby. he studied by live also breaking donald trump loses his bid to documents.he judge's ruling included a heated response to the ecial counsel scathing criticism of how she's handng the case and trbling new details are emerging about the chaotic us withdrawal from afghanistan. cnn as exclusively obtained transcripts ofnterviews with state department officials that were kept under wraps until now welcome towein the united states and around the wod i'm lflitzer, a year in the situation room the
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skis cnn breaking >> news because that's good right to the breaking news on president biden making new demands of israel. the deadly strikes on aid workers in gaza apparently a tipping point for the biden administration ha speak with a key hi to us official john kirby in just a few minutes he's standing by, but first, let's go to c an a senior white house correspondent, kayla tausche, she's following all these developments for us. kayla, update our viewers at the very latest. >> well, for the first time since october 7 when hamas attacked israel, the white house appears ready willing to place conditions on has been mo
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as the civilian death toll rises, and it becomes an increasingly challenging political question for him. here at home with pro-palestinian protests erupting nationwide and in questions for him and his administration about why there haven't been consequences for israel so far, there were high stakes for the conversation that took place today. it lasted about 30 minutes during the middle of the day. >> and >> certainly there were high expectations to especially after israel had said that this is the type of attack that
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happens in war, calling it unintentional and launching its own preliminary investigation which concluded this week and a full investigation that will follow the us so far had said that it would reserve judgment on exactly how this happened until that full was not the first such concrete ande
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steps, or the eu to reconsider its position that we want to see more crossings opened up. we want to see more trucks getting in the mitigation of civilian harm particularly to humanitarian aid workers. but obviously all civilians, >> national security spokesman john kirby said, the us needs to see results soon or pursue a policy change, though without providing specifics. >> we don't see changes from their side. they'll have to be changes from our side. hope to see some announcements of changes here and coming hours and days. >> longtime biden allies, senator chris, who serves on the senate foreign relations committee, says this strike is
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different, and that biden's democratic supporting congress is starting to wane over israel. >> this particular targeted killing which is hard to explain or understand, i would vote to condition aid to israel joining a faction of lawmakers calling for biden to take a tougher line on the mideast ally even as cnn learns the white house is still greenlighting new arms sales, we cannot approve the sale of arms to a contrary that is in violation of our own laws >> israel now on guard for retaliation from iran days after striking and iranian government building and syria killing top irgc officials. >> they did talk about a very public and very viable real threat by iran. >> and despite its outrage and in the face of those continued threats, the biden administration making clear it's stamped with its closest mideast ally, president biden reaffirmed the united states
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strong support for israel in the face of these threats and our commitment to israel's security this evening. reporters shouting questions that president biden at a public event here at the white house, trying to get more detail about exactly what changes he's considering to israel policy. the president didn't answer. >> wolf, kayla tausche at the white house first. kayla, thank you very much as israel faces this growing pressure from the united states, we're getting new information about the investigation into the strike that killed those seven world central kitchen aid workers in gaza, seen as jeremy diamond is joining us live right now. he's in jerusalem. jeremy world central kitchen, founder of the chef jose andres accuses israel of systematically targeting his aid workers. israel says the deaths were unintentional when do we expect to get results from israel's investigation >> well, wolf, over the course of the last several days, the israeli military has been conducting an investigation into the exact circumstances that led to what the israeli
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military has described as a grave mistake, misidentifying this convoy of humanitarian aid via goals as a threat and targeting them with several what appear to be precision a drone strikes the israeli military. i'm told, is now expected to release the findings of that investigation tomorrow morning. they have already begun briefing relevant parties on this, but i do think it is important to note just significant and how different this investigation is into the deaths of these aid workers than anything else that we have seen since the beginning of this war. we have seen tens of thousands of civilians palestinian civilians killed in this war since october. and yet this is the first time we have seen such a thorough comprehensive, and public accounting the deaths of civilians. there's no question that the fact that six out of the seven of these aid workers were foreigners is playing a factor not only in the israeli response, but also of course, and the international uproar jeremy diamond reporting for us, jeremy, thank you very much. let's get some more and all of these major developments
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joining us. now the white house national security communications adviser, retired admiral john kirby. john, thanks very much for joining us. first, you outlined earlier today the steps the united states wants to see from israel to better protect the villians in gaza, how exactly will you determine if israel is in fact taking enough action to do so? >> well, i think the proof will be in the pudding woven, not just the what accounts are going to do, but our assessment over time watching how they act on those announcements in those decisions, making. sure that we have to see a measurable increase, for instance, of trucks of aid getting in, we want to see additional crossings opened up and the ones that are already opened up increasing the flow. and we want to make sure that we can see real civilian harm mitigation measures put in place by the idf so that we can have a measure of security. and frankly aid organizations can have a measure of security that they can operate on the ground safely and they won't be targeted or they won't be accidentally struck. and then lastly, and i talked about this earlier, we need to see a pause
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in the fighting. we want to see a ceasefire tied to getting the hostages out so that not only can there be a relaxation on the ground of combat, but but that aid can flow much more unhindered than it already is. >> if israel john does not do enough to protect palestinian civilians in gaza in the coming days, what specific changes is the biden administration in the willing to make to move its policies forward? >> well, i'm not in a position position to preview the policy decisions that the president might make going forward but he was very clear and very direct with the prime minister that if we don't see changes on their side, there's going to be have to be some changes in our own policy towards gaza on our side but i don't want to close down his decision space and hopefully it won't come to that that there'll be able to execute and implement on these things that we've asked for, these things that they've committed to doing and we can make it safer for an workers on the ground and frankly, we can help start to make life better
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for, for innocent gazans. >> as you know, john, tens of thousands of palestinian civilians in gaza more than 200 aid workers. there, and 90 he, five journalists have already been killed in this war. dozens of hostages, as you know, there are still being held in gaza at the same time adjusted a israel struck a refugee camp in central gaza. why has it taken the president this long to get to this point of considering a major change in us policy think what you're seeing. >> certainly >> today is obviously what happened to the world central kitchen. that that event certainly was a catalyst for the call today certainly, you saw his outrage in his statement shortly after that strike, but i think it's important to remind that his frustration has been growing over recent weeks and months, over so the dangerous to the civilian population in gaza and to aid workers. this was the, this was if you will culminating event, i think but it but it really reflects a growing frustration by the
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president as you remember, the president, the referenced what he called a come to jesus moment with the tiny after his state of the union address last month. is >> that moment happening right now? >> all i can tell you is that the discussion today was very direct and it was very candid and the president was i'm sure footed in straight and stressing his concerns are deep concern over what happened to the world central kitchen, but even broader to the
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humanitarian situation in gaza. and he was very, very clear with the prime minister about what we need to see short of making policy decisions and changes on our own president biden says he is outraged by this attack, but why is it the expressing that on camera directly to the american people? >> well, here he has opportunities to talk to the press all the time, and he'll continue to do that. i think you'll continue to hear directly from the president and various forms and vehicles about what's going on and gaza and what we're trying gonna do to again, get a ceasefire in place, get those hostages home, get that humanitarian assistance in an increased volume, but you'll continue to hear from the president. >> but as you know, the president's still hasn't spoken about this latest israeli strike. he has done that on camera. he has said very little in fact, about his own frustrations with prime minister netanyahu in public.
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when do you think the president will start to speak in front of the american people about these concerns. >> well, i don't have anything on the calendar to speak to in terms of a press conference or a or an interview specifically about these events. but you will continue to hear from the president, i think his statement the other night about the world central kitchen strike was very, very clear, very, very strident. and you could see the frustration in that statement. you're going to again, continue to hear from him about this. >> all right. i want to play for you. what senator bernie sanders told are jake tapper just a few moments ago, listen to this israel should not be getting another nickel in military aid untold these policies are fundamentally changed. so if you know, my view is no more military aid to israel when children in gaza are starving so if the status quo continues, do you think president biden would be willing to condition military aid to israel? >> well, again, i don't want to get ahead of the president or closed down his decision space on national tv his statement today, the readout from his
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conversation with prime minister netanyahu was very clear that we will so make decisions about our policy in gaza based on our assessment of how they meet their commitments and changes that they're willing to make in the way they're prosecuting operations and protecting innocent civilians, including aid workers. so we're going to watch and see what they announced in what and how they act on those announcements that they make will monitor it very closely. closely. we're going to judge it by what they do, not just by what they say. i just don't want to get ahead of the president on this. >> you heard the secretary blinken earlier today, suggest he warned that there's a real risk. the way israel is waging its war in damage to civilian
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infrastructure, and now the potential impact on humanitarian organizations being fearful of moving into gaza so you maybe have all these crossings open, wolf, but if you don't have truck drivers who are brave craig, just enough to move that stuff into gaza because they're worried about being struck, then it doesn't matter. so everything has to be done in synchronization and that's what we want to see. >> the israeli magazine plus 972 is reporting that israel has been using artificial intelligence to help identify
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bombing targets in gaza, sometimes with only 20 seconds or less of human oversight. at the white house briefing earlier today, you said you weren't aware of this israeli magazine report, but that would you would study it. contributor,
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he tweeted this just a few moments ago. i read it to you, the israeli security cabinet approved the opening of the erez crossing with the gaza strip for the first time since october 7. in order to allow he minister earlier today. >> do you go very quickly? i want to get your reaction to
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these latest threats from iran to retaliate against israel for the israeli airstrike thank against the consular building in damascus killing some iranian already in the military types what's your reaction to that and how not just for gaza i mean, this is a small tree that has many enemies in the region and lots forbid into
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full-scale war, john kirby, as usual, thanks so much for joining us. yes, sir. >> just to have the political impact of president biden's tougher stance towards israel. will it ease the election year pushback within his own democratic party? and donald trump's new legal laws as the judge refuses to dismiss the classified documents case against him were breaking down the ruling and what it could mean for the eventual trial. >> if you work in spaceflight, this is the worst possible
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threatening to make dramatic changes to us policy toward israel how will this ultimatum play here at home? let's talk a little bit with our political experts audie corners. where do you think anything short of an immediate ceasefire that potentially could help ease some of the problems, potentially the president biden's having from within his own democratic coalition. >> i mean, another way to think of it is that what the concern is about how israel it was prosecuting his war has now gone way past any people here in there in the coalition. the most recent gallup research shows that 55% of americans they polled now believe that israel, it disapprove of how israel is going after the war. and so i think the question now is there's a wider swath of people who are concerned. >> and i'm >> kind of curious from kate and sarah what that means for policymakers. do they actually have more room to discuss things that's not in the binary of complete ceasefire or unconditional support at any cost
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>> i think the biden administration has tried to be in that space from the outset, and that's part of what has been politically challenging for them. this is obviously a nuanced and complicated situation. i think they have tried to navigate that in-between space of putting forth policy that is going to contain this and not allow this to spiral into a bigger crisis that is going to threaten american interests and potentially american >> and they really are found thank this. i think this what do you mean by that? his he had said in the past, say, okay, i'm going to talk to israel. we're going to do a ceasefire. we're going to drive 48 hour. nothing has happened. and i really think this is going to come down in his presence. so does he get reelected in november or not? and the younger generation are really upset? but one. of, the things that was interesting about the gallup poll is it was millennials, right? it's not gen z. they are looking at wide swaths of the population and independents who have moved since october. and this came out just a few weeks ago. it was before the aid workers. so the idea that there is a
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widespread concern, i think is going to become a morning mainstream concept and you have even trump talking about that. >> but that's i was just going to say. but what's the alternative here? the alternative for these voters is donald trump, who is not exactly somebody who has said, i don't agree but the alternative is they don't vote. well, that is a huge problem, or they don't. a difference in the policies. well, but i think what you have donald trump out saying things like the idf needs to go go into gaza and finish the problem. i mean, this is he's not somebody who's articulating concern for palestinian citizens, for gazans. so for people who are frustrated, upset angry about what they're seeing in terms of innocent loss of life. donald trump is not a viable option now, of course, you're right. is there the potential is there the potential fences stay home issue? of course so i'm a good base is going to turn out. so i think well, yes, but the maga base is not enough to get donald trump re-elected pressure. >> you send me that >> you're speaking of trump. he said earlier today. he said israel needs to finish what they started because israel is losing support. the longer this
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war goes on, why do you think he's saying that? >> because he's first one is close to that day who i went that's been obvious for the beginning and they do need to end this. i mean, we need to get this over with so we can move on. so i'm not surprised that trump said that frankly. >> well, but again, there's a very practical choice here for voters in november. and so i think yes. is there widespread frustration, outrage about what we're seeing on the ground? is their with their outrage over the attack this week on the world central kitchen aid workers, of course of course. but i also think that people want to see majority of people in this country do support israel want to see the united states continued to support israel. and so i think for the biden administration, they have to chart a course here that maintain that contains the conflict in a way that doesn't have it spiraling out of control. and if we put it in a political contacts in the mughal out of it or not >> support. and whether it's unconditional and we had senator bernie sanders speaking
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to jake tapper today and he very much made it clear. he also supports israel, but that he was also talking about the idea of conditions and also benchmarks. what is excess in a scenario with this much civilian loss of life? well, and i think you heard the white house signal today that they may be open to conditions. i made my own head well because they are trying to make rational policy decisions and not not box themselves into a corner on what to do here. but i think yes, there is certainly going to be continued pressure here. i think it is going to be tricky for the white house to navigate this for the coming. let me get your thoughts on another important issue. no labels announced today that they're documented field a third party ticket, essentially a bidding the statement that they couldn't get anyone serious to be there. they're candidate for a third party, no labels ticket. what does that say about the stakes of this election now? >> well, this is a great thing for the biden campaign over there's no question that no labels were they able to field a significant candidate that that would have been a threat to the biden campaign and i
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campaign that is going to be very close. there's gonna be one when i'm lost in the margins and battleground states. but i think it also shows that there is support for biden's candidacy. it shows that, yes. have we seen in the polls that there's fatigue across the board with both leading candidates. yes, we've seen that. but i think at the end of the day, you had a lot of very ambitious people take a look at trying to do this third-party run and come away with the belief that it was not going to do anything but potentially throw the election to donald trump. they didn't want to be a part of that. i >> assume you, sarah, to jump in because she's been following the law. i will this is good news for the biden campaign that no labels was not going to fish and it's good news for the trump campaign, but really, did we ever think that they were going to have legitimate candidate? no. i mean, this has been months. they've raised a lot of money on it, but the reality is a third party doesn't work. you cannot win a third party even though the country's doesn't want biden or trump or party candidate can take do they do they can say, what, what do they do with the money now that will be untrusted? so they've
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got a lot of it. good discussion. thank you to everyone right now. we're coming up. the judge, had donald trump's classified documents case hits back at the special counsel what their dispute could mean for the prosecution of the former president's standby there's new ally in the fight against climate change. >> this is new car business blue carbon. we just need to protect nature will do the rest in carbon >> cnn film sunday, april 21 at nine. >> good data cough. oh, no >> bob, i call later chest congestion hello, 12 hours of relief >> wow >> knock offering it, but moving past acts, joe not coffee mucinex, dm, 12-hour doesn't just quiet coughs. it treats coughs caused by excess mucus at the source and controls them for 12 hours. it coming back season stubborn chest congestion, dry mucinex
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dismiss this case. and so in this one, judge, aileen cannon says that the presidential records act, which has to former president has been claiming gave him the authority to possess these documents, to take these documents when he left the white house? that that is not relevant, at least at this stage. she is, however, allowing him to continue to continue to present this perhaps even at and so that is something that is a bit of a conflict with what the special counsel counsel jack smith is pushing her to do. i'll read you just a part of her ruling which was a very short just over two pages, in which she said, to the extent that the special counsel demands an anticipatory final, families is finalization of jury instructions prior to trial, prior to a charged conference and prior to the presentation of trial hello. defenses and evidence, the court declines that demand as unprecedented and unjust. you see her there pushing back on jack smith, who was really trying to force the judge to make a decision on
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whether trump will be able to use the presidential records act as part of his defense wall evan. perez with the latest on this front, very important information. thanks very much. i want to break it all down with our legal experts and i'm crushed. khardori is with us here, former federal prosecutor. what do you make of judge aileen cannon's decision to push back so strenuously against the special counsel, jack smith calling his latest filing as we just heard unprecedented and unjust. >> well, she appears to be somewhat buckling under the pressure. i think i think she's not enjoying all the attention that her orders are getting an a negative reaction that they're getting. and i think this is probably a symptom of that. i would just say on the merits that calling jack smith's requests on precedent and unjust, it's very strange. she is the one who started this process of finalizing our drafting jury instructions before even setting a trial date. the whole thing is bizarre to begin with but she lacks experience to manage a case like this at this level of complexity insignificance, and it's been showing for awhile this was a
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lot of experts are suggesting, what do you think andrew >> no, i totally agree. i think what we're seeing here is a combination of a lack of experience. i think a lack of confidence many of her orders in this case, there's only been a few there's a lot of outstanding motions that could use orders and decisions, but we haven't seen those yet, but many of them do indicate a sort of lack of a inclination to issue decisive final orders. she usually takes a solid monic split the baby approach. i'll deny it now, but you can kind of bring it up later, which paints the prosecution in a very, very tough corner, because when those issues come up later, it could be beyond the point at which the prosecutors could take get any sort of an appealing jack smith, the special counsel, is going to try to get her dismissed from this case and how difficult would that be? >> it's exceedingly difficult if he's going to do it. i think this latest response to her response he filed two days ago is maybe the first step down that path, but there's a much longer path go through to
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actually get the get a get an issue up in front of the appellate court that would compel the court to essentially assign the case to a different judge. very rare, and i wouldn't count on it in this case on kush, what do you think? >> i shared the same analysis. so there will be a very heavy lift. be hard to succeed. but we are seeing frustration in now the prosecutors filings here and they have suggested that this is a route that they might take. and i think part of that quote that we just read is a response to that, right? i think she understands that there's a little light threat being thrown in her direction, not unreasonably in my estimation but it would be hard for them to do it. >> let me get your thoughts on another legal issue. the new york civil we'll fraud case, as you know, the judge has now set a hearing to discuss the underwriter for trump's hundred and $75 bond, walk us through what this all means. >> yeah. this is a new one for me to say. i mean trump generates these interesting like legal controversies so evidently the attorney general's office has raised some questions about the
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company that is backing this bond. it's based in an outside of new york. so the attorney general's office has said, well, we can't do the ordinary financial background checking that we might do with the new york state-based company will check with our department of financial services all that they don't have that information. so they've asked the judge to insist on full fully degree of transparency to understand that this company can actually back the bond. so i imagine it, we're going to see some filings potentially in that the hearing the judge is going to ask some questions about it, but i don't think he's going to be particularly well positioned to do much to sort undo this or question at beyond legal stuff going on on chris khardori. thank you very much. andrew mccabe. thanks to you as well. we'll just add will have the latest on the urgent effort right now to free hundreds of people still stranded in taiwan after a very powerful earthquake, you'll have a live report from the epicenter that's coming up get your viewing glasses ready, and experience so rare, it won't happen again for another two decades. joint cnn for life i'd coverage around the country of the spectacle in the
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enjoy 20% sen. off plus free shipping on your first-order. >> i'm sunlen serfaty in washington and this is cnn >> in taiwan, the death toll from the island's most powerful earthquake in 25 years
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is on the rise, at least ten people now confirmed dead as crews raced to find victims in the rubble before it's too late, are senior international correspondent, ivan watson has bore a daring mountain rescue one day after taiwanese pummeled by a powerful earthquake emergency workers struggle climbing over treacherous landslide, trying and to bring victim's home among those initially stranded dozens of miners and to remote quarries on thursday authorities announced they're successful rescue. some chopper to safety there were too many rocks falling like bullets from above. this minor says, we didn't know where to run the aftermath of some landslides visible from a moving train >> many >> paved roads to the disaster zone are still blocked. but on thursday, the railways resumed
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service. it has only been a day since this powerful, deadly earthquake rocked taiwan and already this train to the epicenter is running on time in the small city of hualien, residents still coming to grips with the earthquakes damage though there are some scenes of real destruction, it also feels like this earthquake community is quickly bouncing back the city government set up this temporary shelter in an elementary school. >> this is your home, maybe room. >> there's a hole in the wall along mei fen ease camping out here with her husband and mother. do you feel safe staying in hualien >> i'm now afraid. i was born here >> among those here, the mayor of hualien, who was injured in the quake. what happened >> equate to a cabinet >> fell on me. he says he attributes the relatively low death toll in his city to advanced preparation from when
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it's almost altai of fabienne here in hualien, we grew up with earthquakes, are teachers and relatives always taught us how to react when earthquake strike. so if known about this, since we were kids, this ruined building is a terrifying example of the power of wednesday morning, 7.4 magnitude earthquake but look down the road here and you see that most of hualien is not damaged. it is a up intact and very active amid these scars and impressive display of community resilience >> now, we'll taiwan's national fire association, it says that one of its priorities today will be to search for a missing family of five, two adults, and three children. their last known location was one one of these hiking trails in the national park that's about an hour drive. hours drive from here. there are total of 15 people still missing now, some almost 48 hours after the earthquake that
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brought this building down i know there's still plenty of concern about aftershocks. i've been watson on the scene for us. thank you very much coming up exclusive new cnn reporting, shedding new details on the us's chaotic withdrawal from afghanistan, why some senior us officials are saying they created the plan from scratch so which like are we operating? >> asking the right question can greatly impact your future? >> share your north of >> specially when it comes to your finances, us certified financial planner, i'm a cfp professional cop professionals are committed to acting in your best interest. that's why it's gotta be a cia. >> do you want to close out >> should i? hi normally i'd >> hold but taking the gains of smart here right >> feel more competent. what's dog ratings from jpmorgan analysts in the chase app when you've got a decision to make, the answer is jpmorgan wealth management
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deal dash.com right now and see how much you can save spatial colombia, the final flight premieres sunday at nine on cnn >> nato, a cnn exclusive report, us official telling congressional investigators that plans to withdraw americans from afghanistan had to be created from scratch as the taliban swept across the country and region it turned to power, cnn's kylie atwood has details new transcripts exclusively obtained by cnn show the chaos on the ground as the us withdrawal from afghanistan mirror the chaos behind the scenes at the state department, the department had no working emergency evacuation plan. that is it's the stork testimony from three state department officials to the house foreign affairs committee. and those three officials were rushed into kabul in the days surrounding the taliban's takeover with
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virtually no time to prepare the biden administration's failure to plan for their withdrawal threaten the safety and security of us personnel in country. the >> interviews are part of an ongoing investigation led by the committee's republican chairman, mike mecole, into the chaotic evacuation that resulted in the deaths of 13 us service members in a terrorist attack outside of the kabul therefore, one official testifying quote, we had to create from scratch tactical operations that would get our priority people into the airport. he added, we were roughly as effective as we could be under the circumstances another saying, he was never briefed on an established evacuation plan because quote, we were already in the midst of executing an evacuation that substantially exceeded the scope and scale of what had been contemplated. the top us military generals suggested that the damage could have been mitigated if the state department had called for
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earlier noncombatant evacuation >> it is my assessment that that decision came too late. we >> struggled to gain access to that plan and work with them over months of july until we finally got a decision to execute >> those accusations have been disputed by the state department. >> the us did not want to publicly announce planning for or the start of a neo so as to not weaken the position of the venn afghan government potentially signaling a potential lack of faith. >> another state official testified to the setbacks on the ground due to a bleak reality, the taliban would largely in control. >> quote, >> it was, what will the taliban allow? will they let people move through and how will they do it? and as someone who's worked in afghanistan for 19 years, it's a little bit wild to tell people that you can trust the taliban. hold up your american passport, but it did kind of work those descriptions a far cry. hi, from what the department said at the time, my understanding
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is that things are moving quite efficiently at this hour at the airport at the airport now now, wolff, the committee investigators tell us that they're working to put together a fulsome report of all of the interviews >> that they have carried out later this year. of course, these voices of state department officials are critical for the public to be able to see. but there is also a political motive here. this is the top republican on the house foreign affairs committee who is leading this investigation. you talk to biden administration officials. they believe that the committee wants put this report out around the time of the elections to focus on this damning aspect of biden's foreign policy legacy >> will kylie atwood reporting? thank you. coming up, why a potential financial boon for donald trump is download looking more like a bust. the truth about truth, social, that's next >> home yes focus on an
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brian todd is taking a closer look. >> truth, social which is hot. >> donald trump defending his embattled social media company, the former president, posted on truth social today that the platform is quote, very solid, having over 200 million in cash and zero debt very good for a startup and growing fast on truth, i have 7 million followers, but for tiny audience compared to what he had on twitter, almost 90 million followers. >> this as trump media and technology group, the parent company of truth social, has lost all of its gains on wall street since going public last week in just one day, its stock price plummeted more than 21%, causing trump himself to lose more than $1 billion of personal wealth, just on that day, the stock price of trump media and technology group had soared on the de it went public, initially propelling trump's net worth to more than $7 he owns more than half the stock analysts say the problem is that the valuation of trump media and technology group is
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more than 1,000 times higher than its annual revenue. >> both the advertising revenue and the number of some paying subscribers are basically flat, which really difficult to come up with a $6 billion valuation for a tiny money losing company that's not growing. >> i mean, it's just not a business, it's a billboard of some sort, i guess a billboard for him, but it's a very expensive one >> then there are the legal entanglements, trump media and technology group filed a lawsuit against two of the companies co-founders, demanding that they hand over their shares in the company andy litinsky and wes moss had been failed contestants on trump's nbc show, the apprentice, when they botched several challenges, including a redesign of the pepsi bottle, who came up with the overall concept of the can i said, we did that conversation andy, you're fired. >> west. we'll fireball litinsky and moss had previously filed a lawsuit of their own against trump there
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are also concerns tonight that if trump gets elected president and still holds onto his ownership of that media company, there would be a serious conflict of interest. he'd be vulnerable to influence peddlers black mailers, and when his government has to actually regulate other social media companies, he's expected to deal with laws and regulations and government policies on social media. >> we'll >> always be asking, did he make those regulatory decisions on social media to protect his own pocketbook >> some analysts say its current turbulent run does not mean it's game over for trump's social media company, but that it will have to grow a lot to compete with its rivals. they point out the truth, social has just the tiny fraction of the monthly users that x and facebook have. wolf. very interesting. brian todd reporting for us, brian, thanks very much to our viewers, thanks very much for watching. i'm wolf blitzer in this room. the

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