Trump’s Ukraine call memo does him no favors

[Bloomberg]( Today’s Agenda - Trump’s Ukraine [call summary is damning]( enough to impeach. - Boris Johnson [needs to enact Plan B](. - Greta Thunberg heralds a [generation increasingly angry]( about climate. - Netflix [gains “Seinfeld,” loses market]( share. Trump’s Memorandum Mori Well, that didn’t go as planned. President Donald Trump, battling impeachment, today released a [memorandum]( summing up a phone call with Ukraine President Volodymyr Zelenskiy (pictured above) on July 25. He promised this “transcript” would refute reports he’d pressured Zelenskiy to help dig up dirt on Joe Biden. Democrats assumed it would be massaged to cast the president in the best possible light. And maybe it was. But still it [showed]( … Trump pressuring Zelenskiy to help dig up dirt on Joe Biden. And that alone appears to be a crime, and [certainly is an abuse of his office and an impeachable offense](, writes Noah Feldman. Afterward, Trump tweeted that Democrats owed him an apology because the call memo was so exculpatory. Some Republicans echoed his comments almost to the letter. It turns out that’s because the White House had given them a script – which it also [accidentally]( sent to Speaker Nancy Pelosi and other House Democrats. One of those talking points was that there was no “quid pro quo” discussed in the call. And that is true in the sense that Trump did not explicitly say, “Now I would like to discuss the quid pro quo with you.” But the call gets awfully close to that, Noah writes, with Trump asking for “a favor” right after he and Zelenskiy discuss all the wonderful aid Ukraine could get from the U.S. Anyway, you don’t need a giant honking admitted quid pro quo to [convict somebody of violating extortion laws](, Noah writes in a second column. This call memo – which only accounts for a fraction of the whole call and of a whistleblower complaint nobody has seen yet – makes impeachment likelier. Pelosi and other Dems have [resisted]( it because it doesn’t poll well and because Bill Clinton’s approval ratings rose after the GOP’s failed impeachment of him in 1998. But [Clinton was popular, while Trump is deeply unpopular](, notes Ramesh Ponnuru. Plus, it’ll be hard for Dems to argue Trump is corrupt if they don’t impeach him first. Doing the right thing constitutionally might also be the right thing politically. And anyway, impeachment probably [won’t have much affect on the election]( one way or another (assuming Trump is acquitted), argues Jonathan Bernstein. Voter memories are shorter than ever. Further Impeachment Reading: - Democracy [seems to be functioning]( well for now. – Jonathan Bernstein - This scandal makes it [harder for Ukraine to win U.S. support]( for ending its war with Russia. – Leonid Bershidsky - Impeachment could [boost the market and economy]( if a distracted Trump ends his trade war with China. – Conor Sen - [Dems have weaknesses]( Trump can use against them. – Eli Lake BoJo’s Next Moves Fresh off a stinging loss in the U.K. Supreme Court, Boris Johnson returned to a reconvened Parliament and dared it to give his government a vote of no-confidence – which tells you just how well things are going for him. [Johnson’s high-pressure Brexit strategy has plainly failed](, Bloomberg’s editorial board writes. To avoid a no-deal Brexit disaster on Oct. 31, he must accept a deadline extension and a new election, though it’s not clear either will solve anything. What Britain really needs is a second referendum. The high court’s holding that Johnson suspended Parliament illegally [marks a radical leap](, writes Noah Feldman: It’s the first time Britain’s judiciary has taken precedence over parliament to decide what’s constitutional. This is an epochal change. It’s going to make the [U.K.’s Supreme Court more like America’s](, writes Francis Hoar – and that’s not a good thing. Climate Anger Rises With Temperatures The United Nations General Assembly continued today, but world leaders may have struggled to hear each other, what with Greta Thunberg’s blistering condemnation on climate still ringing in their ears. They [should heed Thunberg’s anger](, Leonid Bershidsky writes. It suggests a new generation won’t let them get away with half-measures for long. Ah, but what measures will work? A struggling U.K. nuclear power project is a reminder [new nuclear plants won’t save us]( from climate change, Chris Bryant writes. And every economist loves carbon taxes, and they are good, but [not nearly enough to fend off]( the worst warming scenarios, writes Noah Smith. We’re going to need some of everything. Telltale Charts Netflix Inc. is about to be hit with a flood of streaming competitors, who are [taking away some of its most-valuable content]( to boot, writes Tara Lachapelle. You think Tesla Inc. burns cash? [Get a look at China’s supposed Tesla-killer NIO](, writes David Fickling. EBay Inc.’s new CEO must figure out [how to cash in]( on changing online shopping trends, writes Shira Ovide. Further Reading Schools spend [tons of money on classroom tech](, but it’s not clear it helps. – Bloomberg’s editorial board Credit Suisse’s [weird spy scandal]( highlights how tough it is for wealth managers these days. – Elisa Martinuzzi JPMorgan Chase & Co. loaned WeWork lots of money in its early days and won the “prize” of leading its IPO. [Now it’s on the hook]( for helping the struggling startup solve its problems. – Shuli Ren The end of merger talks with Philip Morris International Inc. is the latest sign [Altria Group Inc.’s investment in e-cigarette]( upstart Juul Labs Inc. is coming back to burn it. – Sarah Halzack If Trump truly cares about global corruption, then he [should have a look at Egypt](. – Bobby Ghosh Financial markets may [not be able to handle the repo market](’s next disruption. – Narayana Kocherlakota ICYMI Here’s what the [day after a no-deal Brexit]( would look like. Polypropylene plastic can [finally be recycled](. Employer health plans are getting [pricier and skimpier](. Kickers Fancy tea bags may [expose drinkers to microplastics](. Scientists observe an exotic physics phenomenon [involving time reversal](. Unconscious area man's Apple [Watch calls 911]( for him. How [Danny DeVito became]( a pan-generational icon. Note: Please send polypropylene and complaints to Mark Gongloff at mgongloff1@bloomberg.net. New to Bloomberg Opinion Today? [Sign up here]( and follow us on [Twitter]( and [Facebook](. [FOLLOW US [Facebook Share]]( [Twitter Share]( SEND TO A FRIEND [Share with a friend] You received this message because you are subscribed to Bloomberg's Bloomberg Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022