tv Early Start with Christine Romans and Dave Briggs CNN November 27, 2017 2:00am-2:59am PST
have no influence on merry deaths operations. >> if anyone was interested in doing such a thing. "early start" continues right now. -- captions by vitac -- www.vitac.com >> one agency, two bosses. so who's in charge this morning at the bureau charged with keeping big banks in line? >> critical task for the president this week. can he win over republican senators and what's being done to get them on board. >> i'm just going to do my job, and i'm going to go forward. >> senator al franken contrite but moving forward, heading back to the senate this morning on the heels of groping allegations while another democratic accused of harassment is giving up, a top job in the house. >> good morning, everybody thanks for get ng an "early start" with us.
>> it is monday, november 27. it is 5:00 a.m. in the east. who, who is running the consumer protection financial bureau this morning. ? depends who you ask. president trump's choice, or is it leandra english, the hand pk picked successor to the outgoing chief, an obama appointee. >> last night english filed a lawsuit against the president. she's seeking to block mulvaney's appoint to run the agency. the suit argues the dodd-frank wall street reform law entitles her to the job. >> the white house says it gives the president the right to appoint mull vanny instead. for context, here's what mulvaney said about this agency. >> the place is a wonderful example of how a bureaucracy will function if it has no accountability to anybody. it turns up being a joke. what's that it has been, in a
sick, sad kind of way. >> the president named mulvaney acting head just after outgoing chief richard cord ray appointed english on friday. they call cordray's maneuverer a stunt. the course close to mulvaney tells cnn he is expecting a normal transition and not some kind of face off when he shows up at the bureau this morning. >> senator tom cotton a long time foe of the agency also backing the president. calls the bureau a rogue unconstitutional agency and adds english's lawsuit is just the latest lawless action by the organization. the president should fire her immediately and anyone who disobeys director mulvaney's orders should be fired summarily. >> it was created after the 2008 financial crisis. despite criticism from republicans, the bureau has had
its share of success. it ordered wells fargo to pay a $180 million fine and pay $5 million in refunds in the wake of the fake account scandal. they also got payouts from city bangen a bank. >> congress returns to washington this week with no major legislative achievement this year, it is crunch time. president trump already tweeting his support for tax cuts. adding senate republicans will hopefully come through for all of us. the gop with only afford to lose two, count them -- two votes. and several republican senators have already raised objections, including senator ron johnson who opposes the bill. gop leaders may increase the amount of income passed through business can deduct. one of several last mine changes to win votes according to "the
washington post." other possible adjustmentst, cutting state and local taxes. adding back the deduction for local property taxes. they find the current senate bill could actually hurt most americans especially loincome americans, people earning less than 30 grand a year will be worse off right away. by 2027 most americans will see a tax increase. meanwhile people earning $1 million or more will still get big tax cuts. >> joining us now from washington, phillip wakeland. thanks for coming on the program. >> we don't want to get to wonky on this who's the boss argument at the cfpb but broadly speaking, you've heard the argument from mulvaney and president trump over and over it's been terrible for big banks. big banks that are making record profits this year and in the last couple of years, what has
been the paharm they've caused? >> they've got a new boss but not certain if that's going to be the new boss permanently. mulvaney is going to stay in line when it comes to this agency. president trump's governing philosophy is loyalty. he's been a loyal spokesman for the administration. trump thinks i'll move him over to cfpb because of his loyalty. that sets up an ironic organization where mulvaney is going to head the organize he opposed when in congress. >> is it he going to head or gut the organization? because he is a stated foe as are many republicans and the president of all things dodd-frank. this is about helping wall street. the president and many of his policies have been about helping wall street. is this part of a plan not to
lead but to destroy? >> i think we saw early on that mulvaney is very interested in deregulating the market and making certain businesses can move forward. this is the sort of economics they constantly describing. i can see that definitely being in line with what he tries to achieve. this is a transitional period. there's going to be someone else who's going to come in later on. that's a debate i think both republicans and democrats are going to have to have because this is still a new organization. what is the nature of this agency long-term? that's a debate that needs to be had. meanwhile the big show down is tuesday when the president starts trying to sell this plan. right now just one senator has come out in opposition. that's johnson from wisconsin but some bad news on this plan from the cbo, from brookings, from pen warton. economists have not been pleased
with the model suggesting people would be worse off in the long run. >> the biggest obstacle is this really ugly count. you have a handful of senators rgs collins, worried about the way state local taxes, jobs, worried about the way small businesses are treated and john mccain who once wants regular o. chances are they have their pet problem with the bill. republicans can only lose a handful senators here. i think something will limp to the finish line. the republicans will call tax reform. what that looks like is really going to depend on the huddle that the trump has with congress leaders and what the republicans have the appetite to push. >> the deficit favoring big business over the middle class and small business. what it means for homeowners,
all of these things are going to have to work out. >> so the big story ahead of all this, really for the sunday shows are the sexual harassment scandals. the president continues to support roy moore for his candidaty in alabama, that election december 12. now what's happening with john conyers, nancy pelosi said this on stun before we heard he was stepping down. >> john conyers is an icon in our country. he's done a great deal to protect women. >> do you believe -- >> i don't know who they are. do you? they have not really come forward. that's for the ethics committee to review. but i believe he understands what's at stake here and he will do the right thing. >> whether it's pelosi on one side and the president on the other, is this political tribalism at its worst? when it's your team it's okay?
>> it's hard to disagree with that assessment. human nature is universal. i think as a result we're going to see allegations of sexual harassment become bipartisan. this sort of triplism you see not just from president trump who's backing roy moore in alabama, despite those numerous allegations but also, now, minority leader nancy pelosi coming to bat for conyers, it really shows that both side, it seems, are more interested in keeping their guys in power rather than dealing with this problem. until we move past that, think that anyone looking at this controversy really has reason to be cynical. >> all right. >> i should mention al franken also back today says he is not resigning. >> nice to see you. come back in half an hour. tax plan. that will be the focus of the
next cnn debate. tomorrow night senator ted cruz and scott will square off tomorrow night. all right. breaking happy royal news this morning. word from london that prince harry has announced his wedding engagement. they are set to wed in the string of 2018. >> that's coming up. good morning, i will admit i have been following this relationship in the tabloiding and now it apparently is true and real. bring us up to speed. >> reporter: the whole speculation about when they were going to announce this. but they already are engaged. they got engaged apparently earlier this month. they've informed the whole royal family and megan markle's family as well. they're expecting a wedding in h the summer but actually it's in spring next year and we will get to see them in an official
photograph for the very first time this afternoon. we're going to do an appearance at the palace, i understand. those images will be blasted around the world. i think for many -- i don't know if it plays into a fairytale that prince harry met his princess over in america. she's an actress, of course and they've been together for about a year we understand and a huge amount of pressure on them. and prince harry doesn't react very well to media pressure so they have successfully kept this quiet. >> we watched her as she sort of unwound her career and her plbl, right? she's leaving the show she's on the markle debacle. thank you. the first american in the monarchy, right? >> i have no idea. >> i believe so.
>> we've got to go back i have no idea. >> a virginia mom facing felony charges after trying to protect her daughter from bullying. >> why are you working so hard to vil fi me instead of addressing the issue of why this even exists. >> what she did when her daughter told her she was being bullied at school. next. wake up to keurig. wakey! wakey! rise and shine! oh my gosh! how are you? well watch this. i pop that in there. press brew. that's it. look how much coffee's in here? fresh coffee. so rich. i love it. that's why you should be a keurig man! full-bodied. are you sure you're describing the coffee and not me? do you wear this every day? everyday. i'd never take it off. are you ready to say goodbye to it? go! go! ta da! a terrarium. that's it. we brewed the love, right guys? (all) yes.
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arlington police chief will johnson tweeting a photograph showing the suspect pointing the gun. >> a virginia mom faces 5 years in prison on a felony charge for pitting a recorder in her 9-year-old daughter's backpack after the child complained about being bullied. st sara sims saying they are daughter was being picked z on at ocean view elementary school. she said she called the school, e-mailed the school repeatedly but her messages, she says were ignored. >> she took matters into your own hands putting a digital recorder in the fourth grader's backpack. when the recorder was discovered. sims says her daughter was kicked out of class and a month later sims was a rested. >> if i'm not getting an answer from you, then what am i left to do? i don't even think surprise is the right word. i was mortified. i was terrified. next thing i know, i'm a felon.
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all right yet another story of who's the boss. tennessee calling out its deal for a new head coach after protests from fans. >> roy wire has more. >> hi. according to reports an agreement was in the works for ohio state defensive coordinator greg schiano to become the next head coach but now the school reportedly backing out of the deal after backlash from fans upset about his link to the jerry sandusky scandal. schiano has been named in court documents as allegedly having known about the child abuse while both men were assistants at penn state. he has denied having any knowledge but that didn't stop
the protesting on campus last night. >> perhaps denver was throwing early holiday jewelry shopping yanking the chain off another playe player. a bhield scene ensuing. look at this. three players ejected including crabtree who would watch the rest the game from what appears to be a suite. this is the second time crabtree had the chain taken in less than 11 months. raiders won 21/14. >> here's the coach on the matter. >> i don't like it. it's unacceptable. we can't lose our best players because of personal battles. that's a personal battle. this is about the broncos, it's not negotiable. >> the 5 and 5 packers were in pittsburgh and took the steelers down to the wire.
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>> absolutely. >> that was a traffic game too. 56-yard game winning field goal. and julio jones and antonio brown, we are seeing some of the greatest plays. >> some of the most exciting football we've seen in a while. 250 yards for the third time in his career for julio jones. that's the most ever in nfl history. i credible. >> i could watch those two all day. drama could infold this morning at the consumer financial protection bureau. one boss apoiped by the president and by the outgoing chief. >> and weddings bells for prinsz harry. it is true. he's set to wed an american actress. details on the breaking news, we go to london next. moouts ♪ get the limited edition tempur-legacy queen mattress set for the best price ever.
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ask your doctor about xeljanz xr. an "unjection™". one agency, two bosses. of the who's in charge this morning of the bureau charged with keeping big banks in line? >> critical task for the president this week. can he win over enough republican senators to pass a big tax plan and what's being done to get them on board? >> big news for the royal family this morning, prince harry is engaged. an american actress set to join the royal family this spring. >> you love yourself some royals. >> i just kind of grew up watching those kids grow up. >> imagine the -- american divorced actress into the royal family. >> diana's kids changes the way
the monarchy works. >> who is running the consumer financial protection bureau. is that depends on whom you ask. the is it president trump's choice mulvaney, or leandra english, the hand picked successor to the outgoing chief. >> last night english filed a lawsuit against the president seeking to block mulvaney's appoint. her suit argues the dodd-frank wall street reform law infights her to the job. >> but the p white house said the federal vacancies reform act gives the president the right. in context. here's what mulvaney said in 2014 about the agency the president now wants him to lead. >> the place is just a wonderful example of how a bureaucracy will function if it has no accountability to anybody. it turns up being a joke. that's what the cfpb really has
been in a sick, sat sad kind of way. >> the president named mulvaney acting head just after outgoing chief cordray appointed english on friday. the administration calls cord dray's maneuverer a stunt that put his political ambition above the interest of consumers. >> should be interesting. senator tom cotton, a long time cfpb nemesis also backing the president in a statement he calls the agency unconstitution and the -- the president should fire her immediately and anyone who disobeys mull vinny's order should be fired summarily. >> this bureau was created after the final chrkr crisis.
the bureau has its share of success chl the bureau ordered wells if a rg go to pay $5 million in refunds in the wake of that fake account scandal. also got more than $700 million in payouts from city bank and bank of america. stemming from allegations the banks misled credit card customers. congress returns to washington this week with no major legislative achievement yet this year. it is crunch time. the last best chance is the tax bill. president trump already tweeting his support adding senate republicans will hopefully come through for all of us. however the senate bill faces a close vote. the gop can only afford to lose two votes. several have raised objections. including senator ron jonson. so gop leaders may increaseth amount of income pass-through
businesses can deduct. other possible adjustments to the bill, cutting state and local tax breaks for companies, corporations, adding back the deduction for local property taxes. that should help middle class families in high tax states. overall, the krchltd bo finds the current senate bill will actually hurt most americans. people earning less than 30 grand a year will be worse right away. but others will get a tax hike. those earning a million or more would still get big tax cuts. >> joining us live phillip. the president will meet with the senate on tuesday and try his sales pitch. how does that cbo number that christine just read impact the debate? >> reporter: is certainly doesn't have the president who's actually trying to get his own gop conference on board. the opposition for this bill is not coming necessarily from
democrats. they're universally opposed but republicans opposing their own president. collins and murkowski. the margins are so smale. right now it's going to be a tough sell. i think something they're going to slap a label of tax reform is eventually going to limp to the finish line before the end of the year but what that looks like it up for debate. >> there is this feeling among republicans that defeat is not an option. the democrats all hate it because they say this is really not middle class tax reform but a corporate tax cut and for the donor class. that's something that could hurt some republicans too if that is what the public feels about this and some of the polling is not very popular with in tax bill. can the president use his popularity to turn it around? >> well the president came into office promising to make deals and be a salesman, so that's his
job to sell this bill to the public. we're not seeing anything necessarily knew or novel. republicans haven't advocated before, but this tax bill will be white bread, republican orthodoxy. it's incredibly see how -- on top of that they have to deal with the omnibus bill and the daca immigration fix. and spending levels. this is the first time republicans have controlled both chambers and the white house frm for a deck tad. they need to show the voters they're actually getting bang for their buck. it's a litany of other issues as well. you may not be old enough to railroad the show who's the boss. we are. that's playing out in d.c. this morning as mulvaney expected to show up to head the cfpb and the
appointee from the richard cordray. back story there is big banks are making pre financial crisis profit levels. what will who runs this determine the future behavior another big banks? >> i'm going to have to go netflixss and catch up on that reference. i think we're really going to see two clashing ideology. english who is from the past administration and now mulvaney from two very different backgrounds. the argument the republicans are going to make is not one based on ideology, instead, they're going to say this is a stunt, going to point to the fact that the former administrator still had eight months in his term, and they're going to say that he turned his back -- he created this crisis for some sort of political bingksmanship. i think that on top of this
larger argument about the nature and purpose of the agency, you're also going to have republicans just kind of step to the side and say wait a minute. this is an unnecessary debate for us to have. it's a created crisis. >> let's talk about the sexual harassment scandal. really affecting so many different industries. john conyers stepping aside from an important post he had. stepping aside or forced out, if you read the tea leaves. but nancy pelosi calling him an icon and saying let the committees do their work here but not necessarily condemning him. what do you make of that twist to this story? >> well i think that you see that nancy pelosi in her defense is roughly equivalent to what president trump has done for roy moore. here you have an 88-year-old congressman with a very serious allegation and actually a settlement, already and yet
you're going to strip him of his ranking committee seat? that's a slap on the risk. what that signals really, i think that voks had one of the defining arguments on this. it shows that right now, this tribalism show that is raerls of whether you're on the right or left, for the political establishment is going to be with the identify caused, not the accuser. and that needs to change fwl by you're suggesting that her kolling him an icon is the equivalent of the president supporting an accused child molester? >> i think there are differences and degrees of the accusation. >> massive differences. >> im ear sorry? >> those aren't small differences, right? i mean they've calling for an ethics investigation into john conniers to determine exactly what happened there. >> absolutely. we need to be very careful. we can't lump allegations together. what i'm saying is there needing
thes to be a no tolerance policy. this is something that doesn't fly outside of d.c. and hollywood. the way you react, i need to be harsh and come down on this. stripping him of his ranking committee seat is really a slap on the wrist. >> another democrat, ala fra fr. he's back at work today. can he be effective? >> well, he's effective in writing the play book on how to deal with these allegations. what he's done is add it med z to en0ly so much as can be proven and said he feels very terrible and kind of biding time to see in anything else comes out. i think that what we've seen is that his presidential aspirations if real, i don't think there's any hope to those anymore. if he can continue to serve out the rest of his term, the people of minnesota certainly don't like him now. >> political tribalism
everywhere. thanks. the tax plan, by the way will be the focus of the next cnn debate tomorrow night. ted cruz and sim scott, bernie sanders and maria cantwel. we have happy news from london that prince harry has announced his engagement. kensington palace announcing they're set to wed in string of 2018. the let's bring in max fosterer from london. they were in i believe toronto earlier this year for a charity event that the prince is very well involve involved in h. we've seen them in public. presumably she's met the family and the queen must have been asked. what do we know? >> reporter: this has been such a closely guarded secret, not
really a secret. it did amount they were going out together. earlier in the year when. >> there was a lot of frustration about the media reaction. the images were there first official pictures in front of an organized media pack. that was a big moment, a big test for her, over in toronto. victor is a sporting event he's involved in. the afternoon they'll appear in public at kensington palace. they've been very careful people this private. prime minister saying she'd like to offer her warmest congratulations on the engagement. >> he is what? fifth in line to the throne, right? >> yup. he's about to go down an option. in the spring, in fact, when his new nephew or niece is being
born. he's no the -- that does give a lot more freedom in terms of how he wants this wedding to play out. he may not choose to have it at westminster abbey. he might v. it in l.a. he's not as high up the running order as it were. he's actually free to do what he wants. >> good for him. we want happiness. best tot happy couple. thank you, max. i'm sure we'll be talking about this more. thanks, max. >>. kcool story. >> a virginia mom is facing felony charges after trying to protect her daughter from bullies. >> why are you working so hard to vilify me instead of addressing the issue? >> what she did when her daughter told her she was being bullied at school. next.
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all right. he economy must be good because americans have a lot of money to be spent and spending a lot on line. it's a story you hear black friday's digital sales hit record numbers, today is cyber monday and that could be even bigger. adobe predicts americans will spend millions. meanwhile, fewer americans are actually setting food t in stor. foot traffic decreasing about
2%. a boom in h on line shopping is familiar to brick and mortar stor stores. they offered deep discounts on things like big apply yanss. good news for retailers, signaling a strong start to the holiday season. americans are expected to spend $1 trillion this year. >> you'll spend what portion of that? nothing yet i don't think. you've been pretty chill. >> i was actually was overwhelming by all of the things in my inbox. a rule of thumb i always have is if it's no the 40% or 50% off, don't do it. >> alice son cam remember rot ta joining us. >> high, guys, how was thanksgiving? >> wonderful. how was yours? >> mine was graeat, dave. i've deep fried my turkey. i still do it. i know you would appreciate that. so listen. what's going to
happen in two hours at the consumer financial protection bureau with two bosses show up, one possibly with a restraining order against him. how's that going to play out? that will be on our watch. we will be covering that for you. and also, why is president trump now telling people it may not have been him on that access hollywood tape? huh? what does that heen mean? we have all of the newest reporting threads on that as well as the developments in the world of sexual harassment against our various lawmakers. >> i thought it was locker talk. but -- >> we see him getting off the bus with the audio, but anyway, we will dive into why he says that may not have been him. >> lisa bloom who's defending one of the accusers. thanks. all right the virginia mom facing five years in prison on a felony charge for putting a recorder in her 9-year-old
daughter's backpack. her zaugter told her she was being picked z on at ocean view elementary school. sims says she called and e-mail the the school repeatedly but her messages were ignored. >> so she took matters into your own hands putting a digital recorder in the backpack to catch the bullying when the recorder was discovered, her daughter was kilked out of class and a month later sims was arrested. >> if i'm not getting an answer from you, then what am i left to do? i don't even think surprise is the right word. i was mortified. i was terrified. next thing i know, i'm a felon. felony charges and a misdemeanor. i'm trying to look out for my kid. what do you do? >> the norfolk school district says electronic devices are prohibited.
charges sim's attorney believes will not hold up in court. bad news nor mace's. an electronic glitch. details on cnn money treatment next. indulges hair with moisture. for luminous shine. garnier whole blends argan & camellia oils. find every blend at walmart. pain from a headache whcan make this...ld, ...feel like this. all-in-one cold symptom relief from tylenol®, the #1 doctor recommended pain relief brand. tylenol®. ...has grown into an enterprise. that's why i switched to the spark cash card from capital one. now, i'm earning unlimited 2% cash back on every purchase i make. everything. what's in your wallet?
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volcanic eruptions on the indonesian resort island of bali. thick ash shooting more than five miles in the air. shutting down the island's main airport standing about 59,000 domestic and international passengers. they've raised the aviation alert notice to red signaling a larger eruption may be imminent. any public activities within five to six miles. let's get a check on cnn "money" stream. friday was a short day but enough to push both the s&p 500 and nasdaq to record highs. s&p ended 2600 for the first
time in history. amazon rose on strong black friday sales and stocks for physical retailers also. but traffic slowed as expected but held up a little bit better than feared. macy's stock closed at noon on friday before its credit card system struggled to perform transactions. macy's acknowledged the issue but customers took to social media to complain. it comes at an inopportunity moment. new owners for time inc. people, sports illustrated and fortune magazines to the roster. meredith publishes shape, and better homes and gardens. the two companies are wufly
worth the same to to help fund the deal 250 million were offered. in a statement, meredith says the brothers will have no influence on the editorial operations but clearly a new era for time inc. there. >> on a rerated note you turned down to be the person of the year, didn't want to do the photo shoot. >> not enough time. thanks for joining us. >> "new day" starts right now. see you tomorrow. and english filed a lawsuit. she is seeking to block mulva y mulvaney's appointment to run the agency. >> i think the president is on good ground here. >> this is a way to sabotage the agency. >> john conyers is an icon in our country. >> congressman conyers announced he will be stepping down as