Major funding for the pbs newshour has been provided by aj fathom travel. Carnival corporations small ship line. Offering seven day cruises to three cities in cuba. Exploring the culture, cuisine and Historic Sites through its people. More at fathom. Org. Lincoln financial committed to helping you take charge of your financial future. And with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. S ssoranio woodruff the days major headline in the president ial race came far from the campaigns front lines. As the candidates stumped for votes, the spotlight shifted to a man who insisted he wont join the hunt, now or later. I do not want, nor will ill accept the nomination for our party. The declaration came from House Speaker paul ryan, in washington hes not running for president , under anywa circumstances. Count me out. I simply believe that if you want to be the nominee forni our party, to be the president , you should actually run for it. I chose not to do this. Therefore i should not be considered. Period. End of story. Id. Woodruff even that may not end the talk of turning to ryan, especially with a contestedes convention looking likelier all the time. In upstate new york today, frontrunning donald trump pressed to make sure it doesnt come to that, first, by winning new york states g. O. P. Primary next week, where new polls show him with a wide lead. Trump is also keeping up his running criticism of delegate selection, charging the process is rigged, and that rival ted cruz is stealing delegates that are rightfully his. I have millions of votes more, but i also have hundreds of delegates more, but thats not the same thing to me. I think the vote is the thing that you count. Woodruff in turn, the texas senator says hes just betters organized than trump. And in in a radio interview today, he predicted a grassroots tsunami will send him to victory at them convention. Were seeing people who love this country coming out, and theyre crawling over broken glass. Its not for me. Its not about me. Its about the country. Its about the constitution. Woodruff for now, trump leads cruz by about 200 delegates, with john kasich well back in the count. But in new york city today, the Ohio Governor warned republicans, in a clear reference to trump. Some feed off of the fears and anger that is felt by some of us and exploit it and feed their own insatiable desires for fame or attention. That could drive america down into a ditch and not make us great again. Woodruff democrat bernieat sanders took on the republican frontrunner, too, at a rally in rochester. Non because when we stand together and we dont let thend trumps of the world divide us up when we stand together, there is nothing we cannot accomplish. Woodruff Hillary Clinton meanwhile campaigned in new york city, with a pitch for equal pay for women. Im very proud that new york and california have raised the minimum wage, because nearly twothirds of minimum wage workers are women. Woodruff back in washington, president obama appeared to boost clinton, at a new museum on womens equality. He said he wants future generations to be astonished there was a time when a woman had never been president. In the days other news, North Carolinas governor moved tor ease or change parts of a new law on gay, lesbian and transgender rights. Pat mccrory ordered protections for state employees, based on Sexual Orientation and gender. And, he asked North Carolina lawmakers to restore the right to sue over discrimination. He said it shows hes listening. There is a great deal of misinformation, misinterpretation, confusion, passion and frankly, selective outrage and hypocrisy, especially against the great state of North Carolina. But based upon this feedback, i am taking action to affirm and improve the states commitment to privacy and equality. Woodruff mccrory still supports a ban on letting transgender people select public bathrooms based on gender identity. The law has led to several major corporations canceling expansion plans in the state. In afghanistan, the taliban launched a spring offensive, and warned of largescale suicide bombings and assassinations. Hours earlier, the u. S. Embassy in kabul issued an emergency warning to americans. It cited a plot to attack aac major hotel in the capital. Police in belgium have charged two more men in connection with the brussels bombings. They allegedly helped rent aned apartment for one of the attackers who killed 32 peoplell last month. Prosecutors also announced three new arrests linked to novembero attacks in paris. A new warning today about the World Economy. In washington, the International Monetary fund downgraded its forecast for growth this year, again. The new target 3. 2 . Global Growth Continues but at an increasingly disappointing pace that leaves the World Economy more exposed to negative risks. Growth has been too slow for too long. Woodruff despite that report, wall street surgeded higher, as a jump in oil prices lifted energy stocks. A the Dow Jones Industrial average gained nearly 165 points to close at 17,721. The nasdaq rose 38 points, and the s p 500 added 19. A measure of help may be on thea way for the nations bees. Garden care giant ortho announced today it will stop using chemicals known as neonicotinoids by 2021. They attack insects nervous system, but its widely believed theyve also helped cause a dramatic decline in the beee population. Other companies are consideringn ending their use as well. And, russian billionaire investor yuri milner pledged 100 million today to send tiny spaceships to the stars. The goal is to hunt for life in alpha centauri, the star system closest to our solar system. Each probe will have a socalled light sail. Theyll capture energy from lasers on earth, and could travel at a fifth the speed of light far faster than any current craft. Still to come on the newshour the possibilities around a contested republican convention. The last of the big banks settles over the financial crisis. Is it still too big to fail . A trip to the happiest nation on earth, and much more. Woodruff and we begin with politics tonight. As we just heard, the race for the white house is partly a battle for delegates, and Neither Party has a candidate with enough delegates yet to clinch the nomination. Democrats Hillary Clinton and Bernie Sanders are within a few hundred pledged delegates of one another. But add in superdelegates, and she has a commanding lead. For republicans, donald trump leads the delegate count, with ted cruz a few hundred behind, and john kasich well back. The g. O. P. Still has contests to come in 16 states, including new york, pennsylvania, andew california. For more on the republican delegate dance, were joined by ben ginsberg. Hes a partner in the law firm jones day, an nbc msnbc political analyst, and served as general counsel on mitt romneys 2012 campaign. And ben ginsberg, welcome to the newshour. Thank you. Rg t thank you for having me. Woodruff lets remind everybody first that this delegate process has two different steps to it. Ep it does. The first is the primaries that weve all been following on tuesday nights and saturday afternoons where candidates vie to get percentages of the vote. And the second part is the delegate selection process, which is now going on in state conventions and before state executive committees around the country. Woodruff so whats happening now is after the number of delegates is chosen based on how well these candidates do, decisions have tv be made about who the people are that fill those slots. And you were telling us earlier, it is different in virtually every state in how thats done. It is. Republicans practice a fierce federalism, which allows each state to do it the way that state wants to, and you have a variety of mechanisms for selecting who will be the actual people on the floor in cleveland. Woodruff and how are those decisions made . A lot of it is personal relationships, you were saying. Some of it is who is already in the Party Hierarchy in a more state. Yeah. St if its a state convention, then its a matter of the candidates getting enough of their supporters there to win their slate of delegates. There are other states where a state executive committee, intt other words the leaders of the state, will determine who the delegates are. Thats an instance of taking care of your political supporters and maybe your friends and family. There are a few states, about 10 of the delegates are chosen directly by the candidates, but in most instances, the delegates are not chosen directly by the candidates. Woodruff and right now as weve reported, donald trump iss a couple hundred delegates ahead, but ted cruz seems to be picking off delegates here and there. What is he doing that mr. Trump isnt . Well, the very granular process of winning state conventions is what he seems to have concentrated a great deal on. So the way republicans do it is there are often county conventions and then district conventions and then a state convention. So its a process of getting your supporters in each one of those and ultimately thats how you get people. Woodruff the ideal solution for any candidate is to get to the magic number of 1,237 before cleveland. Donald trump still has a chancee to do that. At yes, if he wins about 60 of the remaining delegates, perhaps 66 of the delegates who will be bound to a particular candidate, he can do that on first ballot. Woodruff but if he doesnt, what are the options then . Well, the options are about 70 of the delegates will become unbound for second ballot. Woodruff so theyre no longer committed to voting. G. To either mr. Trump or mr. Cruz or mr. Kasich or mr. Rubio or bush or carson or any of the candidates, correct. Woodruff that means thatt it then goes on to several. To ballots after that, and what could happen . Pe well, a number of things can happen. The convention can come to a decision on one of the candidates, mr. Trump or mr. Cruz. Ituz is possible that additional individuals can get their names put in nomination further downn the road. There is a process for doing that. Much of this will actually be determined, these rules of the road, by the Convention RulesCommittee Meeting on probably the friday before the convention starts. Woodruff so for us to be talking about it now, can we really know right now whats going to happen . No, i dont think so. On june 8th, the day after the last primaries, there will be a pretty set way to know what the first ballot vote will be like. Then there will be rules decisions made by delegates who have not yet even within been selected that will impact the way the proceedings of thegs convention go. Woodruff what a lot of people are talking about, ben ginsberg, is if donald trump is close but not there, if hes say at 1,100 rather than 1,237, what happens in that situation . Ua well, there are a number of delegates who are unbound. Somewhere between 160 and 200 probably who are not bound to a candidate. Woodruff at any point . At any point. Their states follow particular rules. So there will be 40 days of wooing as those unbound delegates get entreaties from many a candidate. Woodruff entreaties meaning . Well,me theyll have conversations about how the candidates are best qualified. There might be some sightseeing around the country. Gerald ford took people on rides on air force one. So there are any number of ways to develop a relationship with those delegates. Woodruff but if youre a delegate right now who is not bound to anybody, youre a pretty popular guy or girl. I think youre very popular and your popularity may only increase. Youre either going to have ao lot of currency on june 8th to july 18th, or you will be, gee, it was so close. Woodruff prediction, ben ginsberg, on how much suspense there will be going into this convention . Again, well know that on june 8th after the june 7th primaries are done. I think there will be a lot of maneuvering. This will be an historically close delegate count, one way or another, and the rules fights in the week before the convention can actually have a determining effect on the outcome the following week. Woodruff all eyes on cleveland. Yes, indeed. Woodruff mo doubt about it. Ben ginsberg, great to see you. G thanks, judy. Woodruff now to our occasional series of conversations about whether some banks and firms are too big to fail, and whether they pose a risk to the countrys financial health. John yang has our latestla installment. Yang eight years after the housing bubble exploded, Investment BankGoldman Sachs this week became the last big institution to settle with the government for its role in selling bundles of bad loans to investors, which led to thech financial crisis. In this election year, there is a lot of talk about whether too many firms remain too big to fail and whether the doddfrankw law is working. Lynn stout is a Cornell University law professor who now serves on the treasury departments financial researchr advisory committee. She has been very critical of doddfrank, and she joins us now from ithaca, new york. Professor stout, thanks for being with us. Lets start off with that Goldman Sachs settlement this week. They have agreed to pay as much as 5 billion in this settlement with the government. What does this say about accountability now among the big Financial Institutions after the financial crisis . Im afraid the settlement confirms something that weve suspected for quite a long time, which is that it looks like fraudulent practices were hard baked into the Banking Sector during 2008, and unfortunately although 5 billion sounds likek a lot of money, the settlement is actually relatively small. Its certainly small compared to the damage that was done by these fraudulent practices, and its relatively small compared to some of the settlements by some of the other banks, by citibank and by bank of america. So as large as the figure may seem, im afraid it creates the risk that this could be business as usual, that at the end of the day, Goldman Sachs may have found these sorts of fraudulent practices to beud profitable evb in light of the fines. Yang business as usual. Doddfrank was supposed to address all of this, the response to this financial crisis and what brought it on. You say doddfrank isnt working. Is why not . What about it isnt working . The basic problem with doddfrank is that it created the appearance of congress doing something without that appearance being backed up by reality. What the doddfrank act did mostly was direct various regulators at the federal reserve, the fcc, the cfcc to draft regulations that were supposed to rein in the banks, but doddfrank itself doesnt impose many hard and fast rules, and whats happened in all the years since is that the financial industry through lobbying, campaign contribution, behindthescene actions hasas been very effective at stymieing regulators from doing anything that really crimps their style and reins them in. Yang well, the banks say they are being reined in. The banks say their profits are down, that doddfrank has changed the way they do business, theyre holding more capital, they say. Theyre being more closely regulated. There are things they cant do. And they say thats cutting into their profits, they say. What do you say to that . Well, its true that bank profits are down, but i think we need to be realistic. One of the primary reasons is that the banks basically lost the faith of their customers. They damaged their own reputations and destroyed muchd of their own customer base. Now, some regulation does pray pray play a role. Right now regulators are watching the banks pretty closely, twu rules are still pretty flexible. We have to be concerned that in years coming in the future, the regulators will take their eye off the balance and well be back to some of the same problems in terms of concentration of risk and highly speculative activity that led to the 2008 collapse in the first place. Yang what do you think should be done . Its actually very straightforward. Up until around the year 2000, we had a bunch of banking regulations in place, including glasssteagall and rules against speculative Derivatives Trading that had proven timetested at keeping banks from taking on excessive risks and had been very effective at keeping the Financial Sector stable and sound. And most of those laws were eliminated in whats turned out to be a very misbegotten profit of socalled deregulation. I think that if we put those rules back in place, experiencee and history suggest theres no reason why we cant have a safe, sound Banking Sector. Its just very hard without some of the original regulatory firee walls we used to have. Yang glasssteagall came out of the depression and said you couldnt. You had to separate commercial banking and Investment Banking. The critics of that, of your assessment say that a lot of what happened in the financial crisis had nothing to do with that. It had to do with a pure Investment Bank like Goldman Sachs. It had to do not with the mixing of the two. Whats your response . Oh, thats true, to some extent, but glasssteagall wasnt the only rule that was changed. We also legalized overthecounter driftives forri the first time, and we even gave a derivatives contracts priority in bankruptcy. There were lots and lots of financial rules that were changed in favor of the financial industry through a steady process of the application of Campaign Contributions and lobbying power. And if were going to have a stable system, i think we needee to find a way to get past this problem of lack of a political will to effectively regulate Financial Institutions. Yang we had barney frank on in a conversation about this, the barney frank of doddfrank, he said that even if an institution were to get into trouble, the way th