The lower court has not scheduled hearings. What it does is leave many people in flux. David a huge disappointment to the president. A signature achievement of his tenure thus far. Where does things stand with that now, with his plan . Ellen it is all frozen at the moment. Or a lot of it is frozen. Taking it out of the political realm for a moment, for companies, it is a problem. They have employees who are here on visas and have immigration issues. They have trouble planning what to do with their talent. It is not just a social or political issue. It is a business issue as well. David it is a business issue as well in a lot of Global Economic news. A number of pieces in the magazine about it, including one by editorinchief john micklethwait. Ellen we have an entire section devoted to brexit. It is a huge deal. We have an interesting essay by john micklethwait, the editor in chief from Bloomberg News who writes about it from his personal point of view, since he is british. And we have a really interesting story also on internal u. K. Politics, which is a mess. David talk about johns piece which kicks off with him remembering his gap year. He was asked about the political turmoil in the u. K. Then. Ellen it is an incredibly charming story. He talks about meeting a guy named milton, who was asking him about the u. K. And asking him about the conditions in the u. K. And then tried to tell him how things would change under thatcher. It was only later he realized it was the eminent economist milton friedman, which is really a nice story. But he turned out to be right about what he thought about what thatcher would bring in. David it is a long essay. I dont mean to have you summarize all of it. What does john think about this vote . Ellen i think he thinks it is a setback. I think he thinks it is the end of classical liberalism that the u. K. Has enjoyed. I think he thinks it is a mistake. He sort of takes us through the history of the change in the u. K. Over time and what this means. It is a special perspective that we are happy to give. David and liberalism, he notes, has not been entirely great for the u. K. Ellen right. He says it has been better for people on the upper end of the economic spectrum rather than people who are less fortunate. David your economics editor looks at the referendum for significance. Peter coy takes a step back and says longterm, that may not be that big of an issue. Ellen peter says down the line, it may not be a total divorce. It will be something short of that. And he is a little more optimistic then some and basically says it is not over yet. David i sat with peter coy. Peter if i were a brit, but what is done is done. I would have voted to remain. It is not all bad. It is not extremely bad. ,irst of all you have to think britain was already not the core of the European Union. In the euro currency, which is supposed to be the be all and end all for the European Union. All countries are supposed to be going in that direction. Written had opted out from that. They kind of only had one foot in the water. Peter right. The other thing they did not go into is the schengen agreement. It allows for no border controls within the area. And they said it no. They did and still do have free movement, as long as they are in the European Union of member country people. But anybody from outside of the Schengen Area who gets in does not have immediate access to britain. So in those two ways, they are already out. And what we are talking about is another step back for them. To some further fringe of europe. One thing, as a plus for them as you wrote in your piece about david cameron, the Prime Minister pointed out that the u. K. Economy is doing ok. Peter they had a buffer. The funny thing about it is if it is true their economy is pretty decent, why did they pull out . To me, it is about two things. One is the fear of the big draws on their budget to finance and other problems. And then immigration, uncontrolled immigration. They worry about people from Eastern Europe coming in. So even though they could control the flow from, say, syria, they could not control the flow from, say, romania and poland and lithuania. So those two things. But if you think, if britain was a successful economy as you say, how about the countries that do not have successful economies . Or how about the countries like germany, which resemble britain in the sense that they are contributors to the eu. Two differentese sets of country in the eu, both seeing the brexit as precedent for why they should stay in the eu. Or why they would not want to be part of the eu. I can see them making the argument that the uks pretty wellpositioned and the economy is pretty strong, but in the near term, there is so much uncertainty. We have heard about that a time since the vote. How much will that flag the economy . Peter it hit the stock market really hard. It is going to probably put a crimp on investment for some time to come. That is why a lot of people are predict the a recession for britain. Goldman sachs, for example, is forecasting that now. But to me, that is not the big story. The bigger story is the longerterm impact. I mean, Something Like stepping out of the eu is not just one of these cyclical things for a story for a day or a week or a month. It could be in semipermanent new condition. So if you really care about, can britain and the eu find a new modus vivendi, where they may not be as tightly linked as before but still manage to trade. And have crossborder investment. Carol it is tricky. Other members of the eu who may be questioning, if the eu makes it too easy for the u. K. To kind of be out of the European Union but still have some liberties, it may make the other nations more inclined to leave as well. Peter it is true. Thatis interesting is germans have been surprisingly open to cutting some type of deal with the brits. German industrials see britain as a big export market. They do not want to give that up and so they may be putting that as their number one priority and worrying somewhat less on the longterm repercussions. Carol up next, another scandal in britain. Its biggest Insider Trading case in history. David and the doctors allegedly bilking the u. S. Out of more than 100 billion. Carroll and what may be the okds biggest scientific breakthrough. David all that and more ahead n Bloomberg Businessweek. David welcome back to Bloomberg Businessweek. I am david gura. Carol i am carol massar. You can also find us on sirius fm at 119. David in this weeks features section, an investigation into the uks biggest insidertrading case. Carol i spoke to a reporter. Suzi the u. K. Regulator had not prosecuted anyone criminally prior to 2009. Insider trading was what they grabbed on to the show that they were a tough prosecutor, and that they were looking at institutions. This is one of the first investigations they opened in 2007. It took a while to come to fruition because of various Judicial Court issues and legal aid issues, but this is their landmark case. Around seven people arrested in 2010. In a series of raids that really took the city by surprise. This had never happened before. A number of these people were caught up in those raids. The recent outcome is what we have seen. Two convictions, three acquittals, a mixed result. Carol going through your story, i felt like you needed an organizational chart to understand how it played out. There was one man who was interesting was a man who went by the nickname of fatty or mad punter. Talk to us about him. Suzi iraj parvizi was a largerthanlife guy. What we saw in this case was a real multicrew of players. You had the bankers who were from prestigious firms, used to working m a deals. Dealing with established ceos. Then you have this underbelly of financers who were cutting their teeth on sort of have you heard this, have you heard that, and placing huge spreads effectively professional gamblers who were using stocks and shares as another outlet of what they do. Iraj parvizi describes himself as a professional gambler. He bent on horses, played poker. For him, stocks and shares was another way to gamble. Carol and he was quite a character in the courtroom. Suzi absolutely. He has this fascinating history. He is the son of an iranian diplomat. After the persian revolution, he was in england. He dropped out of school and started working dead end jobs. And a chance meeting put them in the business world, getting a sense of what it was to make real money. From there, he became a selfmade man. Opening restaurants, boutiques, buying thoroughbred horses, to become this huge largerthanlife character. Carol the u. S. Government is accusing hundreds of nurses and doctors out of scamming the government from billions. Peter this was the annual takedown, as they call it, by the department of justice and the office of inspector general. Every year, they save up some of the Health Care Fraud investigations they have been arking on and a time them for big june smash. This year was their biggest yet by far. They are getting more aggressive. There is more money being spent on Health Care Fraud investigations. They ranged all over the country. I think there were about 30 states involved. I think there are about 37 different judicial jurisdictions where cases have been filed. These are doctors, nurses, pharmacy executives. There is a lot of compound pain cream, pharmacy makers involved there and Pharmacy Companies have been involved in terms of investigating fraud. It ran the gamut. David this is an annual event. Things were different this year. We have seen a policy shift. You write about that. What has changed . Peter last september, the department of justice issued guidance to all of their lawyers, saying no more deals with individuals in investigations of large corporate fraud. Or even small corporate fraud. They will not make a deal that says ok, the company may have committed medicare fraud, you may have been writing prescriptions or housing nursing home patients or doing unnecessary things, bilking taxpayers for money, and letting off the executives or doctors or individuals culpable. In the past, that ability for so prosecutors to make deals in , these kinds of investigations led to a lot of settlements, and it was helpful. It provided leverage for the government to say, ok, we are going to let your seo walk, let the doctors want. Were may be evidence they involved, but you pay us x Million Dollars and agree to some sort of Corporate Compliance in the future, and no one will be charged. Well, the department of justice announced that will no longer be the case. Now it takes special permission from washington to do a deal that lets an executive or anyone else walk and just hold the corporation liable. They want to see individuals in the dock for medicare fraud. David up next, under armour reinvented its supply chain, and baltimore says thank you. Carol and how to spend happy hour. David that is ahead on bloomberg is this week. Carol welcome back. I am carol massar. David i am david gura. Carol in this weeks features section, how under armour is changing its supply chain. David in transforming its hometown of baltimore in the process. Carol we spoke to reporter rachel monroe. Rachel they are building a new club in baltimore, which is the heart of their new headquarters, which is a huge, new neighborhood that kevin plank is essentially building from scratc it is part of a 20 year plan to really reshape the company. And it reshape the city of baltimore at the same time. David talk a bit about the growth the company has seen the last two decades. It has gone from kevin plank literally driving up and down the east coast to a really big enterprise. Rachel i think he said he put 100,000 miles on his car that year. Firstjust running it out of his grandmothers basement. At this point, under armour has taken over adidas, so they are the second biggest Athletic Wear Company in the u. S. They are projected they had 4 billion in revenue last year. It is growing every year. Breathing down nikes neck. Carol talk to us about kevin plank. He is the force behind this. Free competitive spirit i think it is safe to say. He wont say, i think no one at the company will say nike, but he is looking to reinvent the supply chain. Rachel he is very passionate about the idea of how can he do things better. So that was the idea behind the company from the beginning. Making a better shirt rather that they and the soggy sweats Football Players were sweating in. He would do that with local to local manufacturing. The idea was to revamp products to bring in more technology. So the production moved more close to the point of sale, rather than having an 18 month supply chain and shipping things back and forth across the ocean. David he is opening a Innovation Center in baltimore, where under armour was based. He is a guy with a lot of affection for that place. You had an amusing anecdote in the piece about a call he makes to network news executives. Kind of amazing. Rachel he was watching the news one morning and realized that when they showed the weather on the today show or Something Like that, they were showing new york, d. C. , philadelphia, but not baltimore. And he was like, my city needs to be there. To docalled up and said whatever they had to do to get baltimore on the weather. He is always thinking like that. Always thinking about the brand. Not only of his company but the city where the company is based. They are very much and wind for him. They are very much and twined for him. Carol quickly, the company has been around 20 years. Is this a step for the next 20 years in the company . Rachel yes, i think they are thinking about how they can beat nike. And they are thinking big. Carol in this weeks etc. Section, we got a handy guide to happy hour areas. Bret there are a ton of things you can do with your coworkers, your family, by yourself. If you give it a little bit of thought, you can plan some pretty fun stuff. I mean there are Concert Series , all over the country. There is a great one in brooklyn and a great one in millennium park, actually in chicago as well. Sipping events of you want to have a little alcohol. You can go to houston and watch 250,000 bats fly. It is something different, something to switch up during the work week. Which, as you know, we can spend so much time. David and the happy hour can often lead to the work dinner, which usually takes place at the restaurant you probably would not elect to go to on your own. You are sitting outside as well. Bret right. When entertaining clients, you go to the steakhouse, it is what the client wants. Fine. But we previewed five restaurants that are known for al fresco dining. If you have to entertain clients, there are plenty of places to do it outside. David still ahead, happy hours alcohol. Carol and the geneediting company and their scientific breakthrough. We will talk about that next. Welcome back to Bloomberg Businessweek. Carol we are coming in from inside the magazine and others. David still ahead, the real cost of donald trump rallies to taxpayers. Kickstarter gets creative. A scientific breakthrough. Carol all of that is ahead on Bloomberg Businessweek. David we are with the policy editor. There are so many mustreads. Lets start in the finance section. Big news a few months ago about saudi arabia going public. There were plenty of people with a keen interest in how that is going to happen. And when it will happen. And many of them are Investment Bankers because the whole issue for them is if its passed Investment Banking around the world not having the strongest of years, so saudi arabia is talking about selling assets. And the possible ipo, which is valued at trillions of dollars. Saramco. So for investment banks, there is a whole lot of work to be done. And the whole idea of the crown prince who is a very important leader, is he wants to create the Worlds Largest fund, they will be doing that with investment. You have a lot of bankers visiting. David going in and out, i am sure. In the brexit section, you look at where Financial Firms might go if they leave london. A lot of banks are saying now that the United Kingdom is exiting, they might be able to areas. Other where could they go. Dublin is one of them. A place for taxes are more favorable. Ellen all of those bankers working in the city can speak the same language in dublin. That is a big plus. There is frankfurt, which is a big Financial Capital and it is important. That is another option. David negative marks for not having a very fun nightlife. Ellen it is no berlin. Frankfurt is not known for its nightlife. David paris is a city that is also being floated. There are people in these cities that they could actually recruit some of these banks. Ellen its a silver lining, but not for the u. K. David amsterdam . Ellen amsterdam is a short flight away from london. Luxembourg as well. Its a short flight away. It is convenient to city hop in europe and the food is great. And there are all of these cities that are willing to take advantage of what could be a big vacancy. David lets talk about the features section. On a new way of sort of changing the way that genes work. Ellen its a huge breakthrough. It involves using the way the body, or genes, naturally attack viruses and snip them out. It turns out, and i am sympathizing this a lot and i am simplifying this a lot, when you combine it with certain proteins, you can program this function to trim out pieces of dna that are irregular and put the dna back together or stitch it with another piece of dna. It uses a guiding piece of rna. Its really complicated. David we talked with the writer of that piece. It could revolutionize everything. It could be as big a deal as the transistor was decades ago. It is a foundational technology, a process that bacteria used to fight off viruses. But now scientists believe they can edit genes easily had cheaply. And we have been trying to edit genes for years. You know about the gen