Steve Forbes: Government is concerned about its own well-being


♪♪ LIZ: ALL RIGHT. GOVERNMENT SPENDING HITTING AN ALL-TIME RECORD HIGH, $2.57 TRILLION SPENT IN THE FIRST SEVEN MONTHS OF FISCAL 2019. REMEMBER WHEN BARACK OBAMA AND CONGRESS VOWED TO PAY FOR THE AFFORDABLE CARE ACT BY ROOTING OUT WASTE, FRAUD, TAXPAYER ABUSE FROM MEDICARE AND MEDICAID. IT WOULD HELP PAY FOR OBAMACARE. IT DIDN’T HAPPEN. LOOK AT THIS. 20 FEDERAL AGENCIES ADMIT SHELLING OUT $1.3 TRILLION IN IMPROPER OVERPAYMENTS SINCE 2004. THE WORST OFFENDERS, HHS, IRS, SOCIAL SECURITY, PENTAGON, MEDICAID, MEDICARE, SOCIAL SECURITY, JOBLESS BENEFITS AND EITC AND MORE. DEMOCRAT SOCIALIST MEMBER AND FORBES MEDIA CHAIRMAN STEVE FORBES. 2020 DEMOCRATS KEEP PUSHING TO RAISE TAXES. WHY DON’T THEY ALWAYS RAISE TAXES? WHY NOT FIX PROBLEM OF GOVERNMENT WASTE, IT IS EQUAL TO THE SIZE OF POLAND?>>SHOWS WHEN GOVERNMENT IS IN CHARGE, CALL IT SOCIALIST OR ANYTHING ELSE THERE IS NO CONSEQUENCES FOR THE KIND OF WASTE. PRIVATE SECTOR, CAPITALISM, FREE MARKETS, YOU HAVE THAT KIND OF WASTE YOU GO OUT OF BUSINESS. THIS HAS BEEN GOING ON FOR DECADES. BRITAIN AFTER WORLD WAR I, AS NAVY GOT SMALLER, THE AGENCY RUNNING THE NAVY GOT BIGGER. THERE ARE NO CONSEQUENCES TO THE KIND OF WASTE. IF YOU REDUCE BUDGET, YOU GET LESS NEXT YEAR. NO REAL INCENTIVES TO GUARD THE TAXPAYERS MONEY. LIZ: NOMIKI, REPUBLICAN JOHN KENNEDY, A NUMBER OF DEMOCRATS WANT A BIPARTISAN PUSH OF BOTH CHAMBERS TO STOP GOVERNMENT SENDING PAYMENTS TO DEAD PEOPLE, BILLION DOLLARS, AND PAYMENTS WHAT DO YOU THINK?>>OF COURSE THERE ARE INEFFICIENCIES. BERNIE SANDERS HIMSELF TALKED ABOUT HOW THE GOVERNMENT IS STRUCTURED IN A WAY THAT IS NOT EFFICIENT. PART OF THAT IS BECAUSE WE HAVE THIS DUAL PRIVATIZED AND FRANKLY SOCIALIZED GOVERNMENT IN WHICH IT IS FRANKLY NEOLIBERAL, NEOCON GOVERNMENT WHICH WE PRIVATIZED INDUSTRIES THAT SHOULD BE SOCIALIZED WHICH WOULD BE MUCH MORE EFFICIENT MADE IT FOR ALL. IF WE TAX THE RICHEST WE TALK ABOUT THE PRIVATE SECTOR WHICH MR. FORBES JUST MENTIONED, THE PRIVATE SECTOR IS ONLY CONCERNED ABOUT THE BOTTOM LINE. GOVERNMENT SHOULD NOT FUNCTION THAT WAY. WHEN GOVERNMENT IS FUNCTIONING THE WAY THAT IS CONCERNED ABOUT THE BOTTOM LINE PEOPLE NOT PAYING TAXES ARE THE ONES WHO ARE PRIORITIZED OVER WEEKING PEOPLE.>>GOVERNMENT IS ONLY CONCERNED ABOUT ITS OWN WELL BEING, ITS OWN POWER, NOT ABOUT THE PEOPLE F IT IS CONCERNED ABOUT THE PEOPLE YOU WOULDN’T SEE THE MASSIVE WASTE. IN THE PRIVATE SECTOR YOU SUCCEED BY MEETING THE NEEDS AND WANTS OF OTHER PEOPLE WHICH IS WHY CAPITALISM IS MORAL AND FREE MARKET, FREE MARKETS DON’T SUCCEED YOU DON’T PROVIDE SOMETHING DON’T WANT. WITHOUT PROFITS, YOU DON’T GET NEW BUSINESSES, EXPANDING BUSINESS BUSINESSES. YOU DON’T GET BREAK THREWS WE NEED. SOCIALIZED MEDICINE IN EUROPE CRUSHED INNOVATION. THAT IS ABSOLUTELY TRUE. GO BACK TO THE 1950S AND 1960S. EUROPE WAS GREAT FONT OF NEW PHARMACEUTICALS. TODAY, TODAY IT IS THE U.S. THAT IS THE FONT OF MOST NEW PHARMACEUTICALS. LIZ: NOMIKI, SIX 1/2 MILLION PEOPLE LISTED AT SOCIAL SECURITY BEING OLDER THAN 112 OF AGE. ONLY 40 PEOPLE IN THE ENTIRE WORLD AGED 112 AND OVER. THAT IS TOTALLY INEFFICIENT. THAT IS SOMETHING?>>THAT IS DIFFERENT THAN SOCIALIZED MEDICINE. LIZ: THAT IS SOCIAL DISABILITY INSURANCE PAYMENTS. GO AHEAD, FORGIVE ME.>>CLEAN UP, SO IF WE FUNDED OUR GOVERNMENT PROPERLY, IF RICHEST 1% ACTUALLY FUNDED THE GOVERNMENT RATHER THAN WORKING PEOPLE, WHO ALREADY STRETCHED WAY TOO THIN, GOING BROKE BECAUSE THEY BREAK THEIR ARM, GO BANKRUPT, AND ALREADY, YOU KNOW, THEIR WAGES ARE LOW, NOT PROTECTED BECAUSE UNIONS HAVE BEEN UNDER ATTACK BY THE KOCH BROTHERS IN STATES. THIS IS WHAT IS HAPPENING WITH THE WORKING CLASS. BECAUSE OF THAT, BECAUSE OF GOVERNMENT IS NOT FUNDED WE’RE NOT ABLE TO CLEAN UP THE WASTE. LIZ: WE GOT TO GO.>>GOVERNMENT HAS NEVER BEEN BIGGER, NEVER MORE INEFFICIENT. THAT IS WHAT HAPPENS, FREE MARKETS ARE NOT IN CHARGE. LIZ: MEDICARE IS GOING UPSIDE DOWN.>>GOVERNMENT ISN’T A FREE MARKET. LIZ: WHY THE WHOLE CONGRESS GO INTO THE VA, SINGLE-PAYER IS SO GREAT? HAVE POLITICIANS GET THEIR HEALTH CARE.>>EUROPE THEY RATION HEALTH CARE. WE DON’T WANT WANT THAT HERE.

Theresa May misread the mood of the country: Nigel Farage


WE’RE COMING INTO THE BOTTOM OF THE HOUR. BRITISH PRIME MINISTER THERESA MAY ANNOUNCED SHE WILL BE RESIGNING JUNE 7TH IN AN EMOTIONAL ADDRESS. WATCH.>>IT IS AND WILL ALWAYS REMAIN A MATTER OF DEEP REGRET TO ME THAT I HAVE NOT BEEN ABLE TO DELIVER BREXIT. SUCH A CONSENSUS CAN ONLY BE REACHED IF THOSE ON ALL SIDES OF THE DEBATE ARE WILLING TO COMPROMISE. — DEPENDS ON COMPROMISE. ELIZABETH: JOINING ME NOW IS FOX NEWS CONTRIBUTOR AND MR. BREXIT HIMSELF, NIGEL FARAGE, THANK YOU FOR JOINING US.>>HELLO THERE. ELIZABETH: YOUR THOUGHTS ON MAY’S ADDRESS THIS MORNING? SHE STARTED CRYING AT THE END.>>WELL, ON A HUMAN LEVEL, OBVIOUSLY IT WAS A VERY DIFFICULT THING TO WATCH, PAINFUL, BUT POLITICALLY SHE MISREAD THE MOOD OF THE COUNTRY. SHE MISREAD THE MOOD OF HER OWN PARTY. A BREXIT BILL THAT WAS A HALF IN, HALF OUT BREXIT BILL. WE VOTED TO LEAVE. WE WANTED A CLEAR DECISIVE LET’S GET OUT FROM EUROPEAN UNION RULES SHE TRIED TO KEEP US TOO CLOSE. IN THE END, I’M AFRAID IT WAS HER OWN DOING. ELIZABETH: WILL CONSERVATIVE BORIS JOHNSON BE THE NEXT PRIME MINISTER? WHAT DO YOU THINK? WHO WOULD YOU PREFER?>>WELL, ON SUNDAY NIGHT WE GET THE RESULT OF YESTERDAY’S EUROPEAN ELECTIONS. EVERYBODY IN THE U.K. VOTED YESTERDAY. THE CONSERVATIVE PARTY, LESS THAN 10% OF THE VOTE. THE BREXIT PARTY WHICH I FOUNDED SIX WEEKS AGO BECAUSE I HAD TO REENTER THE FRAY IS DUE TO TOP THE POLLS AT 35%. SO WHOEVER THE CONSERVATIVES CHOOSE, WHETHER IT’S BORIS JOHNSON OR NOT, WITHOUT MY SUPPORT, THEY’RE NOT GOING TO WIN THE NEXT ELECTION. ELIZABETH: WHO DO YOU PREFER?>>WELL, ANYBODY. IT COULD BE BORIS. ANYBODY THAT SAYS WE ARE LEAVING THE EU PROMPTLY SO WE’RE FREE TO DO TRADE DEALS WITH AMERICA OR ANYBODY ELSE. BORIS AT THE MOMENT IS THE FRONT-RUNNER. LET’S WAIT AND SEE WHAT HIS PLATFORM IS. ELIZABETH: PRESIDENT TRUMP AND THE FIRST LADY WILL BE VISITING BRITAIN IN JUNE. NOW, ARE YOU PLANNING ON MEETING WITH THEM BECAUSE THERE’S LOTS OF TALK THAT THE PRESIDENT WANTS YOU U TO ATTEND THE STATE BANQUET IN HIS HONOR?>>WELL, IT IS A DIFFICULT QUESTION BECAUSE THE INVITATION COMES FROM THE QUEEN. IF THE PRESIDENT WOULD LIKE ME TO COME, THAT’S GREAT. BUT I’M NOT GOING TO PUSH IT TOO HARD BECAUSE I WOULD NEVER EVER WANT TO DO ANYTHING THAT INSULTS THE QUEEN. LET’S BE CLEAR. I KNOW PRESIDENT TRUMP WELL. HE’S A FRIEND OF MINE. HE WANTS BREXIT SO WE CAN GET AWAY FROM, YOU KNOW, THE UNELECTED EUROPEAN COMMISSION AND GET BRITAIN AND AMERICA BACK CLOSER AGAIN, SO YEAH, I HOPE TO SEE HIM. ELIZABETH: DO TRADE DEALS JUST LIKE NORWAY DOES WITH 150 OTHER COUNTRIES. THAT’S SORT OF A MODEL.>>ABSOLUTELY. ELIZABETH: THERE’S BEEN A LOT OF PUSHBACK ABOUT THE PRESIDENT’S VISIT. HOW WILL THE BRITISH PEOPLE REACT TO THE PRESIDENT AND FIRST LADY’S TRIP THERE?>>WELL, THERE’S ANTITRUMP MEDIA. THE TRUTH OF IT IS, TRUMP IS MUCH MORE POPULAR THAN IT WAS WHEN HE LAST CAME TO OUR COUNTRY. I THINK TO BE HONEST WITH YOU, HE’S COMING ABOVE ALL TO COMMEMORATE THE 75TH ANNIVERSARY OF D-DAY, THE DAY ON WHICH AMERICA AND THE U.K. AND CANADA, BETWEEN THEM, LIBERATED EUROPE, DEFEATED NAZIISM, BROUGHT DEMOCRACY BACK, AND I THINK TRUMP IS IN FOR A VERY GOOD VISIT. ELIZABETH: YOU KNOW, HERE’S THE THING, BRITISH PEOPLE IN PRIVATE HAVE SAID THAT THEY APPRECIATE A STRONG LEADER, LIKE PRESIDENT TRUMP, WHETHER YOU DISAGREE OR AGREE WITH HIS POLICIES, THEY APPRECIATE THAT HE LOVES HIS COUNTRY. WHAT IS YOUR TAKE ON THAT?>>ABSOLUTELY. AND I THINK, YOU KNOW, MAY WITH A SERIES OF PROMISES SHE NEVER DELIVERED. DONALD TRUMP LIKE HIM OR NOT WAS ELECTED, AND AS HE SAID THE OTHER WEEK HE’S KEPT MORE PROMISES THAT HE ACTUALLY MADE. TRUMP, LOVE HIM OR HATE HIM, HE’S DOING A GREAT JOB. THE ONE THING I KNOW FOR CERTAIN IS WE HAVE AN AMERICAN PRESIDENT WHO LOVES THE UNITED KINGDOM, RESPECTS OUR HISTORY AND I THINK WITH BREXIT, OUR TWO COUNTRIES HAVE GREAT FUTURE TOGETHER. ELIZABETH: YOU MEANT DEMOCRAT IN THE LOWER CASE D VERSION OF THE WORD; RIGHT, NIGEL?

Rudy Giuliani is putting together a ‘counter-report’ to discredit Mueller


BUILDING A REPORT TO COUNTER AND QUESTION THE LEGITIMACY OF ROBERT MUELLER’S RUSSIA PROBE. INCLUDING WHETHER, QUOTE, THE INITIATION OF THE MUELLER PROBE WAS LEGITIMATE OR NOT. LET’S BRING IN HARVARD LAW PROFESSOR, AND HE IS THE AUTHOR OF THE BLOCKBUSTER BOOK “THE CASE AGAINST IMPEACHING TRUMP,” ALAN DERSHOWITZ. WHAT’S GOING ON?>>WELL, I THINK IT’S EXACTLY SYSTEM. THE MUELLER PROBE HAS ONLY HEARD ONE SIDE OF THE STORY. REMEMBER, GRAND JURIES DON’T SIDE OF THE STORY. AND IN AN ADVERSARIAL SYSTEM, BOTH SIDES OF THE STORY HAVE TO BE HEARD. SO I THINK IT’S A GOOD THING FOR AMERICA, IT’S A GOOD THING FOR JUSTICE, IT’S A GOOD THING FOR TRUTH FOR THE TRUMP TEAM TO BE BEARING THEIR SIDE OF THE STORY — BARING THEIR SIDE OF THE STORY, AND THEN THE COUNTRY REPORT IS IT’S ILLEGAL FOR MUELLER TO DISCLOSE GRAND JURY TESTIMONY. AND SO HE’S GOING TO HAVE TO WRITE A REPORT EITHER WITHOUT DISCLOSING WHAT HE HEARD IN THE GRAND JURY OR HIS PROSECUTORS HEARD IN THE GRAND JURY, OR HE’S GOING TO HAVE TO GET SPECIAL PERMISSION FROM THE COURT TO DISCLOSE THIS MATERIAL. AND THE REASON WE DON’T PERMIT DISCLOSURE OF GRAND JURY MATERIAL IS BECAUSE IT’S ALWAYS ONE-SIDED. AND SO IT WOULD BE UNFAIR TO RELY ON WHAT WENT ON IN A GRAND JURY AS THE WHOLE TRUTH. BE — AND YOU KNOW IT’S COMING — IS THAT THE WHITE HOUSE IS TRYING TO UNDERMINE THE INSTITUTIONS OF THE U.S. DEMOCRACY. THE INSTITUTIONS OF DEMOCRACY REQUIRE AN ADVERSARIAL SYSTEM. YOU CAN’T HAVE DEM CROSS WHEN YOU — DEMOCRACY WHEN YOU PRESENT JUST ONE SIDE. ELIZABETH: YOU THINK THE SPECIAL COUNSEL –>>EVEN IF I — ELIZABETH: YEAH, GO AHEAD. I DIDN’T APPROVE OF IT FOR CLINTON, I DON’T APPROVE OF IT NOW. EVEN IF THIS WAS AN ORDINARY LEGITIMACY OR TO CHALLENGE THE COVERAGE OF HOW WELL IT WAS DONE OR TO CHALLENGE THE TRUTH OF WHAT’S IN THE REPORT. THAT’S THE ESSENCE OF DEMOCRACY. IT WOULD BE EXACTLY THE OPPOSITE OF DEMOCRACY IF THE PEOPLE JUST TELEVISION NOW PEOPLE ARE CALLING TRUMP AN UNINDICTED A, THERE’S BEEN NO INDICTMENT THAT EVEN MENTIONS OR REFERS TO TRUMP. IT WAS AN INFORMATION, NOT AN INDICTMENT AGAINST COHEN. AND SECOND, WHAT COHEN HAS SAID HEARSAY. SO, YOU KNOW, WE HEAR ONE SIDE ALL THE TIME FROM MUELLER, AND NOW IT’S TIME TO HEAR THE OTHER SIDE. MAYBE MUELLER WILL BE MORE PERSUASIVE. IT’S A CLASH OF ADVERSARIES, THAT’S THE WAY THE SYSTEM SHOULD WORK. ELIZABETH: DO YOU THINK THE MUELLER PROBE IS ILLEGITIMATE?>>NO, I DON’T THINK IT’S THINK IT’S UNLAWFUL. THERE ARE SOME VERY, VERY RESPECTABLE SCHOLARS WHO BELIEVE THAT, BUT ON BALANCE I THINK IT’S LAWFUL. I JUST THINK IT’S ILL-ADVISED, AND I THINK THAT EVERYTHING THAT’S BEEN INVESTIGATED COULD INSPECTOR GENERAL, THROUGH EXISTING INSTITUTIONS. YOU DON’T NEED SPECIAL COUNSEL. ELIZABETH: YOU KNOW, GIULIANI’S REPORT COULD BE 100 PAGES PLUS. TAKE A LOOK AND SEE ON THAT. LET’S GET TO THIS STORY, REPUBLICANS NOW CRITICIZING PRESIDENT TRUMP’S COMMENTS AT A RALLY LAST NIGHT IN INDIANA LET’S TAKE A LOOK.>>BUT OUR JUSTICE DEPARTMENT AND OUR FBI HAVE TO START DOING THEIR JOB AND DOING IT RIGHT AND DOING IT NOW. [CHEERS AND APPLAUSE] BECAUSE PEOPLE ARE ANGRY. TO STAY OUT, BUT AT SOME POINT IF IT DOESN’T STRAIGHTEN OUT PROPERLY, I WILL GET INVOLVED, AND I’LL GET IN THERE IF I HAVE TO. YOU CAN HAVE THE BIGGEST STORY ABOUT HILLARY CLINTON, I MEAN, LOOK AT WHAT SHE’S GETTING AWAY IT. LET’S SEE. ELIZABETH: ALAN, REPUBLICANS ARE CRITICIZING THESE COMMENTS SAYING IF HILLARY OR OBAMA MADE THOSE SAME COMMENTS, THEY’D BE BLASTED FOR IT. YOUR TAKE ON THAT.>>WELL, I DON’T LIKE THE PRESIDENT SEEKING TO CRIMINALIZE THE CONDUCT OF HILLARY CLINTON. YOU KNOW, IF HILLARY CLINTON HAD BEEN ELECTED PRESIDENT AND THEY WERE TRYING TO IMPEACH OR INVESTIGATE HER, I’D HAVE WRITTEN THE SAME BOOK CALLED THE CASE AGAINST IMPEACHING CLINTON. I THINK IT’S A MISTAKE TACTICALLY, LEGALLY, MAKING CRIMES OUT OF POLITICAL DIFFERENCES. SO I’M VERY MUCH AGAINST EFFORTS TO TRY TO CRIMINALIZE THE CONDUCT OF HILLARY CLINTON — ELIZABETH: WELL, IT’S NOT POLITICAL DIFFERENCES, IT’S ABOUT THE E-MAILS, RIGHT? SO THAT’S WHAT THE PRESIDENT, I THINK, IS REFERRING TO, THE CLINTON FOUNDATION.>>OF COURSE. AND THE PEOPLE ON THE OTHER SIDE SAY IT’S ABOUT THINGS THAT TRUMP MAY HAVE DONE. EACH SIDE IS TRYING TO WEAPONIZE OPPONENTS — ELIZABETH: THAT’S THE POINT, YES.>>I WANT DISARM. I WANT TO SEE NO CRIMINALIZATION EXCEPT IF THE EVIDENCE IS OVERWHELMING THAT A CRIME OCCURRED. HILLARY CLINTON WAS CLEARED BY THE JUSTICE DEPARTMENT. HER CLEARING MAY HAVE COST HER THE ELECTION, BUT SHE WAS CLEARED, AND I WOULD NOT REOPEN

Todd Schoenberger appearing on FOX Business Discussing Market Rally


FOR REAL. TOBIN SMITH, MARY ANN MARSH, MICHAEL REID AND TODD SHOWBURGER. THESE ARE NO MIRAGE.>>ONE DAY IS VOLATILITY AND A DOESN’T IMPRESS ME MUCH. THE CONVERSATIONS ARE STILL IN PLACE. IT IS NOT BRISK OR SLOW. CHINA TAKING THEIR FOOT OFF THE BRAKES. IT IS WHERE WE EXPECTED TO BE AND THE RUSSELL FORECAST IS FOR HIGH SINGLE DIGIT RETURNS IN 2010. WE ARE INCHING IN A VOLATILE WAY WITH AN AVERAGE RATE OF RETURN.>>WE SAW THE DOW LOOKING LIKE EVIL TONY POWELL ON HIS MOTORCYCLE AND HIS BUNGEE CARD. YOU GAVE A NEGATIVE FORECAST, YOU SAW DURABLE-GOODS ORDERS, GAVE A BEARISH CALL. I USED ALONG THAT?>>DEAD WRONG ON THE OVERALL CAPITAL, AND IF YOU LOOK AT IT, IT IS ALWAYS CORRELATED WITH IN OUR RESEARCH AND GDP GROWTH. WHAT IS WEIRD, SMART GUYS CAN, WE HAVE $30 BILLION IN EQUITY FUNDS OVER THE LAST 35 DAYS, 75% OF TRADING IS BLACK BOX GUYS SELLING TO EACH OTHER. HIGH CAN’T SAY I AM REALLY BEHIND THAT.>>YOU HAVE BEEN BEARISH. NOW ALL OF A SUDDEN WE ARE UP 9% ON THE S&P. IF YOU WERE NOT SELLING IN THE BEGINNING YOU ARE CERTAINLY SELLING AT THE END.>>ABSOLUTELY. YOU HAVE A ZERO RETAIL PARTICIPATION. YOU ARE NOT SEEING FLOWS IN TO THESE EQUITY FUNDS. WE HAVE A NET POSITIVE EQUITY FUND SINCE THE FIRST WEEK OF MAY. IF THERE’S ZERO PARTICIPATION FROM THERE. WHERE’S THE EVIDENCE? I HAVE RETAIL SALES NUMBERS AT 0.4% CANCELING EVERYTHING ELSE. NOBODY IS SPENDING ANY MONEY. FUNDAMENTALS AREN’T THERE. HOW CAN THIS CONTINUE? LIZ: MAYBE THEY WERE SCARY MAIN STREET. HERE IS THE KEY. BARKER IS CAPITAL CUTTING THEIR FORECAST FROM THE END OF THE YEAR WITH MERRILL LYNCH ALSO CUTTING THEIR S&P FORECAST. THEY ARE SAYING NO GO FOR ANY TAX DISCUSSION WHATSOEVER. THIS IS NOT A GOOD IDEA. THOSE TAX CUTS SHOULD HAVE BEEN TALKED ABOUT.>>THEY HAVE A TERRIFIC POLITICAL ISSUE. DEMOCRATS WILL ARGUE FOR THE MIDDLE CLASS AND SMALL-BUSINESS AND AND FOR THE WEALTHY AND WALL STREET, REPUBLICANS THINK THEY HAVE A GREAT ISSUE BECAUSE THEY WILL TALK ABOUT — THEY POINT TO THOSE NUMBERS. OF PERSONS PATTY MURRAY, THE SENATORS FROM WASHINGTON OR CALIFORNIA HAVE STARTED TO CAMPAIGN AGAINST WALL STREET. BOTH ARE SUBSTANTIALLY AHEAD OF THEIR REPUBLICAN OPPONENTS. DAVE: REPUBLICAN VICTORY WOULD BE GREAT FOR THE STOCK MARKET. ARE WE BRINGING THAT IT ALREADY? IS FETED DISAPPOINTMENT FOR THE MARKET?>>THERE HAS BEEN A CHANGE — YOU HAVE SEEN SIGNS OF THE OBAMA ADMINISTRATION REGARDLESS WHO TAKES THE HOUSE AND SENATE AND A SIGNAL THAT THERE WILL BE — THAT THEY WILL GET SOME MORE BUSINESS FRIENDLY PEOPLE. THE MARKET IS PRICEY IN SOME CORPORATE SPENDING WE HAVE SEEN IN THE SUMMER. WITH LARRY SUMMERS AND TIM GEITHNER LIKELY TO GO, THEY ARE VERY MUCH FEELING IN D.C. THAT THE MESSAGE THEY UNDERSTAND IS A POPULAR RHETORICAL THING THAT DIDN’T WORK. LIZ: HERE IS THE KEY POINT. IN THE PAST WHEN WE HAVE SEEN GRIDLOCK LIKE THIS WE HAVE SEEN A GREAT SECOND HALF FOR THE FIRST TERM OF THE PRESIDENCY BUT THAT IS WHEN THERE WAS ROOM TO MOVE AND OPEN LIQUIDITY PIPES EVEN MORE. THEY HAVE ALREADY OPENED THEM SO MUCH HOW MUCH MORE CAN THEY DO?>>THE FED IS GOING TO GET THEIR WAY NO MATTER WHAT THE MARKET THINKS. WE ARE IN QUANTITATIVE LIFE RIGHT NOW. THEY STAND FULLY READY AND ABLE TO SUPPORT THE HOUSING LABOR MARKET AND EQUITY MARKET AS WELL. I DON’T KNOW YOU ARE MAKING THE CASE FOR A RAGING BULL BY THE END OF THE YEAR BUT YOU ARE MAKING THE CASE THAT YOU ARE LOOKING AT EQUITIES AS BEING UNAVOIDABLE FOR A LOT OF PEOPLE. BUT THE TIME THE RETAIL INVESTOR GETS IN THIS IN A COMPETENT WAY THAT WILL BE CONTRARIAN. DAVE: WE HAVE 16 STOCKS THAT REPRESENT 90% OF THE PERFORMANCE. THAT IS THE SCARIEST THING. OVER THE LAST 30 DAYS, WE HAVE A LIMITED BOOST. DAVE: WE HAVE A BIG MONTH. WE DO APPRECIATE IT. [TALKING OVER EACH OTHER] DAVE: OUR NEXT GUEST SAYS YOU CAN FORGET THIS RALLY IF THE BUSH TAX CUTS ARE ALLOWED TO EXPIRE BY DYSFUNCTIONAL CONGRESS. LIZ: YOU WANT TO LISTEN TO THIS. CELTS CRAFT A TAX CUT UP FOR DEBATE. GEORGE W. BUSH, AND AUTHOR OF THE BOOK SEASONED DESTRUCTION. WHAT IS YOUR TAKE ON WHAT IS GOING ON?>>WE NEED TO EXTEND THE TAX CUTS UNTIL WE HAVE A SERIOUS CONVERSATION ABOUT HOW BIG GOVERNMENT IS. IF WE REALLY WANT THE GOVERNMENT — WE HAVE TO RAISE A LOT OF TAXES. EXTEND THE TAX CUTS UNTIL WE ARE READY TO TALK.>>I READ SOMETHING ABOUT YOUR BOOK. FOUR MAJOR STRUCTURAL IMBALANCES, OVERS OF A CONSUMPTION, EXCESS GOVERNMENT SPENDING AND CHRONIC DAVE DEFICITS. WHY IS IT EVERYDAY WE HEAR COMPLETELY DIFFERENT SIDES OF THIS ECONOMIC DEBATE. SOME SAY YOU HAVE TO SPEND MORE. WHY DO I HEAR SUCH DIFFERENT THOUGHTS ON THIS?>>WHAT WAS THE PROBLEM IN THE FIRST PLACE? THIS DIDN’T BEGIN WITH THE FINANCIAL CRISIS. WE HAD IMBALANCES FOR SOME TIME. WE CAN’T EXPECT QUICK FIXES. WE NEED TO INVEST MORE. IF WE DO SO GRADUALLY WE CAN DO SO WITHOUT MUCH PAIN. SOME QUICK STIMULUS IS WHAT THE ECONOMY NEEDS. LIZ: THIS IS THE ISSUE. ARE WE PAPERING OVER THE PROBLEM? ARE WE DIAGNOSING THE SYMPTOMS AND NOT THE ROOT CAUSE? WE ARE HORRENDOUS, WE DON’T HAVE AN INDUSTRIAL POLICY. WE ARE NOT MAKING PRODUCTS WE USE TO IN THE PAST. L. ARE THESE BANKS BEING COERCED, ASKED NICELY TO DO THE SECOND LOOKS?>>THEY ALL HAVE ADMINISTRATORS. EVERY BANK HAS ONE OR TWO REGULATORS, EXCUSE ME, MY TIE IS ASKEW. I DON’T KNOW HOW YOU LET ME ON. CHRIS: YOU LOOK GOOD, ANYWAY.>>BANKS HAVE SEEN SECOND LOOK PROGRAMS, GO BACK TO YOUR BOOK OF BUSINESS, DID WE TURN SOMEBODY DOWN A YEAR AGO AND DID THEIR SITUATION IMPROVE TO A POINT WHERE WE MAKE THE LOAN? THE ARTICLES I READ ON THE ISSUE WERE MORE ABOUT COMMERCIAL LOANS AND NOT SO MUCH ABOUT COMMERCIAL LOANS. ON THE COMMERCIAL SIDE, AS ABSOLUTELY IT MAKES SENSE TO GO BACK AND LOOK. I ALSO HEARD THE RUMOR. LIZ: WHY?>>BUSINESS IS IMPROVED. A LOT OF THESE GUYS WERE NOT CREDIT WORTHY 12 MONTHS AGO AND THEY ARE CREDIT WORTHY NOW. PART OF THIS STORY SAYS THE FEDS WILL BUY THE LOANS. NOTHING I SEE CAN SUB STAND THAT. LIZ: MICHAEL, A LOT OF LOANS STARTED BY COMMERCIAL REGIONAL PLAYERS STILL ON A STRETCHER. CAN THEY AFFORD THEM?>>I DON’T THINK THEY CAN AFFORD NOT TO. AT SOME POINT BANKS INTO TO GET BACK TO LETTING CAPITAL FLOW. THE BANKS HAVE CLEARLY MOVED FROM THE LOOSE RISK MANAGEMENT TO OVERLY TIGHT RISK MANAGEMENT THAT GOES ACROSS THE SPECTRUM FROM SMALL BUSINESS TO, AUTO LOANS TO MORTGAGES. AT SOME POINT IF THE BANKING SYSTEM DOESN’T START TO WORK IN TERMS OF, THEY HAVE TO TAKE A BIT OF RISK. I UNDERSTAND THERE IS UNCERTAIN MARKET. BANKS DON’T MAKE MONEY IF THEY’RE NOT LENDING MONEY. AT SOME POINT THEY HAVE TO START LOOSENING THAT RISK. THEY HAVE TO DO IT IN LEGITIMATE WAY.>>ESPECIALLY IF THEY’RE NOT PAYING ANYTHING FOR THEIR MONEY. THEY’RE DOING PRETTY GOOD. CHRIS: WILL THIS WORK, JPMORGAN CHASE, PNC, REALLY BIG BANKS BUYING INTO SECOND LOOK PROGRAMS. IS IT GOING TO BE ENOUGH?>>RIGHT. WELL A COUPLE OF THINGS HERE THOUGH. WHAT WERE THEY DOING ALL ALONG? YES THEY DO NEED TO MAKE LOANS TO MAKE MONEY. WHY WEREN’T THEY MAKING LOANS ALL ALONG OVER THE PAST, WHAT YEAR, YEAR-AND-A-HALF? WE’VE GONE THROUGH STRESS TESTS. WE HAD A BANKING SITUATION. WE HAD SUBPRIME BORROWERS BRING ITS TO ITS KNEES. WHITE HOUSE INFLUENCING BANKS, YEAH, WHY DON’T YOU HAVE A SECOND LOOK AT LOANS YOU TURNED DOWN. THIS DOESN’T MAKE ANY SENSE. THE BANKS ALL ALONG SHOULD HAVE BEEN DOING WHAT THEY SHOULD HAVE BEEN DOING AS FAR AS LOOKING AT CREDIBILITY. AS FAR AS SEEING IF THESE LOANS ARE LEGIT. NOW ALL OF SUDDEN, MAYBE WE DIDN’T DOT THIS I OR CROSS THIS T A DIFFERENT WAY AND WE’LL GIVE YOU THE LOAN. IT JUST DOESN’T ADD UP. LIZ: MARY ANN YOU ARE A SHARP ANALYST. YOU’VE GOT YOUR EAR TO THE GROUND IN D.C. ARE BANK REGULATORS PUTTING ARM ON THEM LIKE CHRIS COTTER VASE?>>THEY’RE NOT DOING ANYTHING THAN WHAT PRESIDENT OBAMA DID TO BP. I DOUBT BP WOULD HAVE COME UP WITH $20 BILLION IN CLEANUP FUND DOWN ON THE COAST UNLESS THE PRESIDENT ENCOURAGED THEM. THE ECONOMY WILL NOT GET BACK ON TRACK. PEOPLE AREN’T GOING TO GET BACK TO WORK UNTIL LENDING IS DONE TO QUALIFIED BUSINESSES. THIS IS WHY VOTERS ARE UPSET. THEY WENT ALONG WITH BAILOUTS BECAUSE IT WAS GOOD FOR THE COUNTRY. NOW THEY FEEL LIKE CHUMPS IT TURNED OUT TO BE GOOD FOR EVERYBODY BUT THEM.>>THIS IS END ARE ISSUE. LET’S KEEP THAT IN. THIS IS NOT ACCESS TO CREDIT ISSUE FOR SMALL BUSINESSES. THIS IS ACCESS TO SALES RIGHT NOW AND PEOPLE ARE NOT SPENDING ANY MONEY.>>YOU’RE RIGHT. BUT CLEARLY THERE ARE COMPANIES ABLE TO TAKE CREDIT ON LITERALLY HAD A CREDIT LINE OF, THREE YEARS AGO AND HAVE ONE MILLION CREDIT LINE. THEIR BUSINESS HASN’T GONE DOWN 90%. THAT’S WHAT THEY’RE LOOKING AT.>>THAT’S RIGHT. LIZ: LET ME TELL YOU ABOUT ANOTHER CROWD WHOSE BUSINESS IS LOOKING PRETTY GOOD TODAY. TIME FOR WHO MADE MONEY TODAY. YOU, YOU, YOU. YOU MADE MONEY. DID YOU LIKE THAT?>>YOU GO GIRL. LIZ: THIS IS WHY WE’RE TALKING ABOUT WHY YOU MADE MONEY. PRESIDENT OBAMA IS READY TO SIGN LEGISLATION INTO LAW THAT STRIPS THE SEC FROM FREEDOM OF INFORMATION ACT VIOLATIONS AND EXEMPTIONS. EXEMPTIONS. I SCREWED THAT UP. THAT’S WHAT I MEANT. PROVISION WAS TUCKED INTO THE FINANCIAL REGULATORY BILL. A STORY FIRST BROUGHT TO LIGHT BUT US HERE AT FOX BUSINESS. WE WORKED TIRELESSLY TO BRING ATTENTION TO THE PROVISION AND HELP INSURE GOVERNMENT ACCOUNTABILITY TO THE PEOPLE, NOT THE OTHER WAY AROUND. WE’RE NOR THE PEOPLE. WE’RE FOR YOU THE VIEWER. NEXT UP, MEMBERS OF THE FEDERATION OF INTERNATIONAL ROBO SOCCER ASSOCIATION –>>COTTER. THIS IS YOU RIGHT HERE. LIZ: ROBO SOCCER. THIS IS YOU IN THE MIDDLE. MORE THAN 50 TEAMS ARE GATHERING IN INDIA FOR THE 15th AND WALL ROBOT CUP.>>15 TEAMS AND ONE WOMAN. LIZ: NOW THE SOCCER PLAYING AND DROIDS NOT EXACTLY READY TO TAKE ON RINALDI. THAT IS NOT LEAVING THEIR ENGINEERS FROM DREAMING BIG. THE CREATORS SAY THEIR ULTIMATE GOAL IS DEVELOP A TEAM OF FULLY AUTONOMOUS HUMANOID ROBOTS BY YEAR 2050 NOT ONLY COMPETE AGAINST HUMAN PLAYERS BUT WIN. THEY WANT TO WIN THE WORLD CUP.>>THEY HAD THAT 1985. REMEMBER JOHNNY FIVE?>>ENGLISH TEAM WILL GET THEM. LIZ: ENGINEERS NEXT PROJECT GETTING FULLY HUMAN GIRLFRIENDS.>>EXACTLY. LIZ: EXACTLY.>>JUST START GETTING ONE DATE. THAT IS WHERE I WOULD GO. ROBOT THAT CAN’T SAY NO. LIZ: NEXT UP, WHO LOST MONEY TODAY, FAILED TELEVISION EXECUTIVES. THAT’S RIGHT. A BIG MEDIA SHAKE-UP TODAY. CNN PRESIDENT JOHN KLEIN AND NBC UNIVERSAL CEO JEFF ZUCKER BOTH FAILING TO GET THEIR JOBS PICKED UP FOR ANOTHER SEASON. KLEIN’S JOB –>>HARD TO BELIEVE. LIZ: AFTER SIX YEARS AS HEAD OF CNN ONCE NUMBER ONE CABLE NETWORK HAS BEEN PLAGUED BY STEEP DECLINE IN RATINGS. MANAGING TO BE DEAD LAST IN THE CABLE NEWS RATINGS GAME EVEN BEHIND THE FOX COOKING SHOW.>>COME ON. LIZ: ZUCKER AT NBC TOOK OVER WHEN THE NETWORK, MUST-SEE TV. NOW NO ONE SEES NBC.>>DO THE “SEINFELD” IMITATION. DOESN’T MATTER DOESN’T MATTER. WE’RE GETTING OUR BUTTS KICKED EVERYWHERE. LIZ: NOW-INFAMOUS CONAN AND LENO MESS?>>CRYBABY CONAN, YEAH. LIZ: CHARLIE GASPARINO SAYS HE COULD LEAVE A $20 MILLION PAY DAY. THAT IS JEFF ZUCKER. IMAGINE WHAT ZUCKER WOULD HAVE RECEIVED IF HE WASN’T A COMPLETE DISASTER.>>TECHNICALLY HE DIDN’T LOSE MONEY. LIZ: 20 MILLION BUCKS. FINALLY SLACKING WORKERS AT CHRYSLER’S JEFFERSON NORTH PLANT IN DETROIT. LOOK AT THIS. THESE EMPLOYEES ARE KICKING BACK WITH SOME BUD. NOT JUST A BEER. LOOK AT THIS. WHOA! OF COURSE, OF COURSE, OUR INTREPID LOCAL FOX TV CREW KILLING THE WORKERS.>>IS THAT LINDSAY LOHAN?>>LOOKS A LOT LIKE MY OFFICE PARKING LOT WHICH IS WEIRD. LIZ: LOOK AT THIS GOING ON.>>THESE GUYS HAD A HALF HOUR. HALF HOUR BREAK. THEY’RE POUNDING 40 OUNCES IN A HALF HOUR TO GET BACK TO WORK. LIZ: LIKE COLT 45.>>NOTHING LIKE, EXACTLY, GOOD CALL THE COLT 45 BY THE WAY. LIZ: LOOK WHAT HAPPENS TO THEM. CHRYSLER ANNOUNCING THE WORKERS HAVE BEEN SUSPENDED PENDING REVIEW. BUT UAW MEAN WHILE LET TO LET THEIR JOBS GO UP IN SMOKE. THEY OPPOSE DRUG AND ALCOHOL USE FOR SURE. HEAR IS THE KEY PHRASE. ON THE JOB. THEY SAY THEY WEREN’T ON THE JOB DOING IT.>>SOBER UP IN THE 15 MINUTES TO GET BACK TO WORK? LIZ: WHERE IS THE BOON’S FARM.>>OLD ENGLISH 800. I HAVE THREE WORDS FOR YOU. CHRIS: GREAT SEGUE THERE. CONGRESS FINDING A BRAND NEW WAY TO WASTE YOUR MONEY. LIZ: A BRAND NEW WAY? A BRAND NEW WAY? CHRIS: NO. BUMP THE HEARING ALL THE WAY UP TO C-SPAN 1. LIZ: THEY INVITED A COMEDIAN TO A HEARING AND SHOCKED HE ACTED LIKE A COMEDIAN. THESE ARE THE SAME FOLKS IN CHARGE OF OUR MONEY. ARE WE TRULY DOOMED? THAT’S NEXT

China can earn its way out of Trump’s tariffs: Michael Pillsbury


JERRY IS DETAINED RIGHT NOW. WE WANT TO GET RIGHT TO MICHAEL MISSST PILLSBURY FOR WHAT IS GOING ON WITH CHINA. HE IS ONE OF THE WORLD’S LEADING EXPERTS ON CHINA. IS THIS TOUGH LINE THE PRESIDENT IS TAKING, IS THAT THE WAY TO GO, SIR?>>YES, IT IS. THE PRESIDENT IS REACTING TO TWO DIFFERENT THINGS, LIZ. ONE IS THE RENEGING, HE USED THE WORD IN HIS TWEET, RENEGOTIATE BY CHINA. THIS IS BAD FAITH IN NEGOTIATION TO GIVE UP SOMETHING, AGREE TO IT AND COME BACK AND REVISIT THE WHOLE THING. THAT’S ONE THING HE MADE CLEAR IN HIS TWEET ON SUNDAY. THERE’S A SECOND PART OF IT, WHICH I ADDRESSED THIS MORNING IN A LONG ARTICLE ABOUT WHY THE TARIFFS ARE A GOOD THING FOR A TEMPORARY PERIOD. THERE’S A FEAR THAT CHINA IS GOING TO CHEAT ON THE TRADE AGREEMENT, THAT THEY HAVE NO REAL INCENTIVES NOT TO CHEAT, TO GO STRAIGHT, IF YOU WILL. SO TARIFFS GIVE THE OPPORTUNITY TO CHINA TO EARN THEIR WAY OUT OF THE TARIFFS BY COMPLYING WITH COMMITMENTS THEY’VE MADE. THIS IS AN UNUSUAL NEW IDEA PRESIDENT TRUMP IS USING. IT’S NOT THE OLD KIND OF TARIFFS THAT ALEXANDERS HAMILTON PROPOSED TO PROTECT THE AMERICAN INDUSTRY, HAVE TARIFFS FOR 100 YEARS. IT’S NOT A TARIFF THAT’S DESIGNED TO PROTECT STEEL OR ALUMINUM. CHINA CAN EARN ITS WAY OUT OF TARIFFS FAIRLY QUICKLY. THIS IS A WAY TO GET CHINA’S ATTENTION. AND I WAS VERY PLEASED THAT THEY’RE COMING, THE TALKS WILL BE HELD ON THURSDAY AND FRIDAY. THE MARKET, YOU KNOW — THE IDEA OF BUYING ON A DIP COULD PAY OFFHAND SOMELY IF THE OFFHANDSOOMELY IF THE OFFHANDSOMEELY IF THE OFFHANDSOMELYY IF THE OFFHANDSOMELY AIF THE OFFHANDSOMELY AND THEN THE MARKE OFFHANDSOMELY AND THEN THE MARKT COMPENSATES AND JUMPS UP 500 POINTS OR MORE. LIZ: HAS CHINA BEEN — I THINK YOU POINTED OUT. HAS CHINA BEEN BUSY IN THESE LAST THREE WEEKS TRYING TO WEAKEN THE DEAL?>>THOSE WHO SAY THAT I THINK ARE REFERRING CORRECTLY TO CHINESE ACTIVITIES THAT HAVE STARTED BACK IN EARLY MARCH ACTUALLY, MORE THAN TWO MONTHS AGO. TO NOT HAVE THE CONCESSIONS THEY MADE BE FINAL AND NOT HAVE THEM VERY WELL KNOWN. THESE TALKS ARE SECRET AS YOU KNOW. 150-PAGE TEXT. NOT ONE WORD HAS LEAKED. ON THE CHINESE SIDE IT’S POSSIBLE THAT THE HAWKS DIDN’T REALLY UNDERSTAND THE DEGREE OF CONCESSIONS THAT HAD BEEN MADE. AND SO THEY GOT A HOLD OF THE WHOLE 150 PAGES INSTEAD OF A SUMMARY AND THEY BEGAN TO REALIZE THAT THESE ARE SERIOUS CONCESSIONS PRESIDENT TRUMP HAS GOT OUT OF CHINA. SO MAYBE THEY GOT A CHANCE TO TAKE THEM BACK RECENTLY. NOW THEY’VE SEEN THAT THE PUNISHMENT PRESIDENT TRUMP IS GIVING THEM MEANS DON’T DO THIS AGAIN. IF YOU MAKE A CONCESSION, STICK BY IT. THE AMERICAN SIDE MADE CONCESSIONS TOO. ONE CAN BE OPTIMISTIC ABOUT THE TALKS BUT BOTH SIDES ARE PRACTICED, TOUGH NEGOTIATORS. I THINK PRESIDENT TRUMP IS BETTER. BUT THE CHINESE ARE NO SLACKERS WHEN IT COMES TO TOUGH NEGOTIATING TACTICS. LIZ: WILL CHINA GIVE UP THE HACKING AND ESPIONAGE. I THINK YOU POINTED OUT THAT ECONOMIC CRIME REALLY DOES PAY WELL.>>THEY ARE ONLY GOING TOIVE GET UP IF THERE ARE STRONG INCENTIVES LIKE TARIFFS TO BE TAKEN OFF. THE CHINESE BUILT A MODEL I’VE WRITTEN A BOOK ABOUT THAT’S UNIQUE IN THE WORLD. THEY’RE STILL A STATE-CONTROLLED ECONOMY. MANY PEOPLE THINK THEY HAVE GROWN SO MUCH IN HO YEARS, THEY MUST HAVE A FREE MARKET. THAT’S SIMPLY NOT CORRECT. THEY NEED THESE PRACTICES, THE THEFT, THE ESPIONAGE, SUBSIDIES, THEY NEED IT FOR THEY MODEL. SOME REFORMERS WANT TO CHANGE THAT AND THAT’S WHAT PRESIDENT TRUMP IS WORKING ON. THAT’S WHERE LIGHTHIZER MADE IT CLEAR IN ITS TESTIMONY. LIZ: SHOULD WE NAME THEME LIZ: SHOULD WE NAME THEM A MANIPULATOR? WILL THAT GET IT DONE?>>IT’S CONTROVERSIAL IN OUR SYSTEM. YOU NAME A COUNTRY A MANIPULATOR OF SURGEON WE CERTAIN STIPULATIONS CAN BE PUT ON THEM. SOME PEOPLE DON’T WANT TO GO ALL THE WAY AND CALL THEM THE MA LIP MANIPULATOR. THERE’S AN ISSUE THEY CAN EARN THEIR WAY OUT OF THAT TOO. WE NAME THEM A MANIPULATOR, THEY STOP AND WE TAKE IT AWAY. THIS IS THE DYNAMIC THAT PRESIDENT TRUMP IS TRYING TO PURSUE TO GET AT CHINA. HE WROTE A BOOK AND USED A

Ocasio-Cortez takes aim at GOP “trolls” in fiery tweet


IT GOES TO VOTE TOMORROW. THE CONTROVERSY AROUND CORTES’S FINANCES. SHE CLAIMS REPUBLICAN TROLLS ARE SLAMMING HER WITH BOGUS COMPLAINTS. IT’S ON TOP OF A BUNCH OTHER COMPLAINTS. INCLUDING THAT HER CHIEF OF STAFF DIVERTED $1 MILLION IN CAMPAIGN DONATIONS TO SHELL COMPANIES HE AND CORTEZ CONTROLLED. AND HER TEAM MAY HAVE ILLEGALLY PAID HER LIVE-IN BOYFRIEND FOR CONSULTING SERVICES EVEN THOUGH HE DID LITTLE TO KNOW CAMPAIGN WORK. ALSO SHE GOT A CONGRESSIONAL EMAIL ACCOUNT FOR HER BOYFRIEND, EVEN THOUGH THEY ARE NOT MARRIED. YOUR TAKE ON ALL THIS?>>THE TAX ISSUE IS THE LATEST FOR THE CONGRESSWOMAN. SHE ADVOCATES MORE TAXES AND HIGHER REGULATORY BURDEN ON AMERICANS GENERALLY AND SHE HAS SUPPORTED MORE REGULATION OF FREE SPEECH, AND THE MONEY IT TAKES TO RUN A CAMPAIGN. YET NOW SHE FINDS HERSELF EVEN SNARED IN A TAX AND REGULATORY SNAFU. I THINK THESE MAY RISE TO A LEVEL OF SERIOUS VIOLATIONS, AND I THINK SHE IS GOING TO GET A GOOD DOSE OF EDUCATION IN WASHINGTON, D.C. ABOUT THE BURDENS THAT COME WITH TAXES AND REGULATION.>>SHE IS GOING AFTER THE PEOPLE FILING THE COMPLAINTS. CALLING HIM A TROLL. SHE IS PERSONALLY ATTACKING HIM. WHY DO YOU SAY THIS COULD BODE ILL FOR OCASIO-CORTEZ.>>SO FAR THERE HAVE BEEN TWO COME RAINS IN THE FILED AGAINST THIS SCHEME. THREE ENTITIES. TWO POLITICAL ACTION COMMITTEES, AND AN LLC TO SUBSIDIZE NACE SNRKS T CAMPAIGNS OF THEIR PREFERRED CANDIDATES. SHE MAY HAVE CIRCUMVENTED THE PERSONAL USE VIOLATION. ANOTHER COMPLAINTS CLAIMS THAT THEY SPENT SO MUCH MONEY THROUGH AN LLC IN ORDER TO OBSCURE HOW THEY ACTUALLY DISBURSED THE FUNDS. I THINK THE VIOLATION IS OF DIMENSIONS OF $3 MILLION. THE END PRIZE OF TWO POLITICAL ACTION COMMITTEES AND LLC PROVIDED CAMPAIGN SUPPORT AT A DEFICIT. THAT IS, THEY SPENT ABOUT $3.3 MILLION TO SUPPORT THE CAMPAIGN OF THE CONGRESSWOMAN AND OTHERS, YET THEY CHARGED THE CAMPAIGN ONLY $300,000. THAT LOOKS LIKE A POTENTIAL $3 MILLION SUBSIDY TO THE CAMPAIGNS THEY SUPPORTED, INCLUDING THE CONGRESSWOMAN’S BECAUSE SHE PAID $60,000 FOR THE SERVICES SHE RECEIVED FROM THIS ENTERPRISE. LIZ: IT’S AS BLACK BOX. THAT’S WHY CAMPAIGN LAWS ARE SO DETAILED. YOU CAN’T DO THINGS LIKE THIS. SHE IS PAID $2,000 IN TAXES FOR A COMPANY SHE FOUND? 2012. THIS IS INTERESTING WHEN YOU DIG IN DEEP TO OCASIO-CORTEZ’S FINANCES. THERE ARE A LOT OF PROBLEMS THERE.>>SHE WAS INVOLVED IN SETTING UP THIS ENTERPRISE OF THE THREE ORGANIZATIONS. HER NAME APPEARS AS A DIRECTOR. HER BOYFRIEND WORKED FOR THIS ENTERPRISE, AND SHE BENEFITED FROM THE SUBSIDY THAT THEY PROVIDED THE VARIOUS CAMPAIGNS. SO I THINK THAT SHE IS IN FOR A

Sheriff thanks Trump for trying to fix immigration problem


LIZ: WATCH PRESIDENT TRUMP FLIP THE SCRIPT ON DEMOCRATS LAST NIGHT.>>I’M STARTING TO LIKE MEXICO A LOT. THEY DO MORE FOR US THAN THE DEMOCRATS DO.>>HE SAID IT BEFORE. JOINING US NOW IS SHERIFF MARK DANIELS. THE PRESIDENT IS GETTING PUSHBACK ON THAT. WHAT’S YOUR REACTION TO WHAT THE PRESIDENT SAID. I THINK THE PRESIDENT IS FRUSTRATED IN THIS WHOLE PROCESS. ON BEHALF OF LAW ENFORCEMENT ON OUR SOUTHERN BORDER THANK YOU TO OUR PRESIDENT FOR STEPPING UP TRYING TO FIX THIS IMMIGRATION PROBLEM AND BORDER SECURITY. AND THE CRITICS AND PEOPLE THAT STAND AGAINST HIM ARE AMAZING TO ALL OF US THAT YOU HAVE GOT A COUNTRY, MEXICO STEPPING UP TO DO THEIR PART TO HELP SECURE THIS BORDER TO MAKE OUR COMMUNITY SAFE. I FEEL THE FRUSTRATION OF OUR PRESIDENT. HE’S FRUSTRATED WITH THE LOTTERY SYSTEM. HE’S BLAMING SENATOR HUMAN WERE OVER THAT ONE. PRESIDENT TRUMP: THIS IS CHUCK SCHUMER. THE COUNTRY PUTS THE NAME IN THE BASKET AND PICK PEOPLE OUT OF THE LOTTERY. THIS ONE IS A MURDERER. THIS ONE ROBBED. THIS ONE I BETTER NOT SAY. LOOK AT THE PEOPLE THEY PUT INTO THESE LOTTERIES. IT’S A DISGRACE. HOW WE HAVE DONE THIS FOR SO MANY YEARS. IT’S AN IMMIGRATION SYSTEM THAT TOTALLY BROKEN. WE’LL WIN THE SENATE AND WIN THE PRESIDENCY AND DO A MERIT-BASED IMMIGRATION SYSTEM. LIZ: CRITICS SAY HE WENT TOO FAR HERE. THAT FOREIGN COUNTRIES DO NOT ENTER PEOPLE INTO THE LOTTERY SYSTEM. DID HE GO TOO FAR? WHAT’S YOUR TAKE ON ALL OF THIS?>>ONE THING THE PRESIDENT DOES VERY WELL, THE PROCESS HAS BEEN FRACTURED FOR A LONG TIME. THE PEOPLE WHO COME INTO OUR COMMUNITY. WE WANTS PEOPLE WHO ARE PRODUCTIVE AND BUILD THAT QUALITY OF LIFE. WHAT THIS PRESIDENT IS SAYING WHEN YOU HAVE MURDERERS, VIE LENGTH PEOPLE IN THE LOTTERY SYSTEM THAT COME TO ANY COMMUNITY IN OUR COUNTRY. THAT’S A BROKEN SYSTEM AND I WOULD AGREE.>>THE SURGE OF MIGRANTS IS EXPECTED THIS FALL AS THE SUMMER MONTHS GO AWAY. REPORTS COMING IN THE WHITE HOUSE IS PREPARING A BATTLE PLAN FOR THE FALL, A RECORD SURGE OF ILLEGALS WITH POTENTIALLY MORE COURT FIGHTS. DO YOU GEAR UP FOR THE FALL? WHAT’S THE STORY HERE?>>THE WAY IT’S BEEN GOING, FIRST OF ALL, THE PEOPLE ARRESTED ON OUR BORDER IS 40%. A LOT OF WHAT THE DEPARTMENT OF HOMELAND SECURITY AND THE LOCAL LAW ENFORCEMENT AND SHERIFFS, IT’S WORK. WE ARE DOING A LOT OF GOOD THINGS. BUT THIS IS WHERE IT BREAKS DOWN. WHEN THE CARTEL HAS STRONGER WILL THAN THOSE IN THIS COUNTRY WHO BELIEVE WE HAVE OPEN BORDERS TO LET THEM ALL COME IN. WE HAVE FOCUSED THE ATTENTION FROM BORDER SECURITY TO HUMANITARIAN EFFORTS. NOT THAT WE DON’T CARE ABOUT HUMANS. WE DO. BUT WE HAVE TO GET BACK TO THIS BORDER BEING SECURED. LIZ: ARE PEOPLE BEING PULLED OFF TO HANDLE DETENTION FACILITIES? ARE THEY BEING PULLED AWAY FROM BORDER SECURITY?>>THEY ARE. A BIG ISSUE, THE HUMANITARIAN ISSUE. THE BORDER IS BEING LEFT OPEN. IT’S AN ISSUE. WE DON’T SEE THE BORDER LIKE WE DID BEFORE BECAUSE THEY ARE ADDRESSING THE HUMANITARIAN. YOU HAVE TO ASK, WHO IS WINNING THIS BORDER SECURITY ISSUE.