tv Mornings With Maria Bartiromo FOX Business October 21, 2015 6:00am-9:01am EDT
that's 55 points. checking european stocks. mixed performances there. ruling the companies have to repay 3-$4 million in tax breaks. breaking news over night. syrian president bashar al-assad was in moscow for surprise visit. the meeting was to thank russian president vladimir putin for military support. western nations accuseed of using to attack antiassad forces . draftkings and fandual. fantasy sports amount to games and skills and not illegal gambling. fox business network a parent company 21st century fox has
investment in draftskings. >> that's up the middle. another hit, another first pitch win. one run scores. here comes orlando and it's 12-2 royals. >> maria: it's getting excited. two teams away from the world series. winning 14-2, game five is this afternoon and if the royals win they are in. same situation in new york. let's show it. new york mets beating the chicago cubs against last night. some people on this set are upset. daniel murphy hitting fifth home run as many game, playoff record. game four is tonight. anthony will be there. >> anthony: i'm going to be there.
>> maria: he will, in fact, run for house speaker but he has demands first. good morning, blake. >> blake: good morning to you as well. paul ryan announced that he has jumped into the speaker fray, he layed out his terms for becoming the next house speaker including reduced weekend travel to see family and eliminating the rule that led to the up rise and call for vote. >> if i told members, if you can agree to these requests and i can truly be a unifying figure, then i will gladly serve. and if i'm not unifying, that will be fine as well. >> blake: roughly 40-member house caucus are already expressing their doubts over stipulations and freedom caucus
daniel webster says he will still run. ryan needs about half of that group and the remainder to clear the 218-group hurdle. if he can't, it's anyone's guess as to who could and what might happen next. >> maria: this is good. blake, good info. >> well, i think that there's a lot of refreshing aspects to it. it's a funny thing, he would actually be the youngest elected speaker since 1875, james, being speaker of the house. that's a different approach. like marco rubio, it makes the gop a lot more relatable potentially, someone with an agenda, someone with positive ideas out there and frankly someone republicans can feel comfortable sending out to late
night shows and talking with people. i always felt embarrassed as someone who leans conservative having boehner out there and not making a convincing case as to why they should support free market. paul ryan would change that. >> maria: conservative then, you are recommending, supporting paul ryan then? >> i think we would say that he would be very good because i think he would reach more young people. >> maria: right. >> would bring more people into the movement. >> sandra: he is setting up for success. other republicans as well. i love what he said here. i came to the conclusion that this is a dire moment not just for congress, he said, not just for the republican party, i think the country is in desperate need of leadership. i think he's really striking a cord with not just republicans but with the country with words
like that and it shows that this most recent poll does show that republican primary voters, a majority of them would be comfortable with him as speaker. could be a very good move. good for paul ryan for setting the tone and letting them know what it's going to take for him to do that. >> maria: he has the leverage now, anthony. >> anthony: when you think about that he's a long-range thinker. i've seen him in action. i know him personally because of the romney campaign. he would put himself last for the benefit of the party and that party needs that anything more than anything else. >> maria: do you agree with that on economic issues, that's something that the entire party should get behind, right? >> well, i think absolutely. when you are looking towards who can save the country, the funny think the washington post
attacking he wouldn't be good for federal workers. federal workers are the ones who are in danger of losing everything if we have a deck crisis and the same thing with young people. why we need spending reform, why articulate person to dom and that. sometimes it's good to have debates. at least we will be having positive debates hopefully coming from both sides. i think it's a good start for that. >> maria: good to have you on the program today. joe biden enters the race, how does that change in your view? >> why did joe wait for now. do you think he would wait for hillary to falter during the debate. the only answer is because of benghazi testimony. he thinks that she'll fall and be able to step up in the plate. >> maria: that's a good point. >> thank you. >> maria: bring you a republican
presidential debate, focused squarely on the economy. takes place in milwaukee, wisconsin, you can only see it in the fox business network coming up on november 10. ferrari gearing up. fifty-two dollars a share. that was at the top-end of expectations. that's different than what we have been seeing differently. the stock set to begin trading later today under the symbol r.a.c.e., anthony, good news here, what do you think? would you be a buyer of the stock? >> anthony: i wouldn't be, maria. seven times earnings, bmw 9.8, it's a fantastic car. that's not the best stock. i don't think that's a racing stock, if you will. >> maria: albertsons pull the deal, first data came lower than expected and you have ferrari going above expectation, what's
up with that? >> anthony: they spent 20% of revenues of rnd. they have to dig in way more than their competitors to keep cars hot. >> sandra: i just wonder how this run in price is people who know the brand, it has to be spectacular stock. how many people are going to get themselves in trouble because of that? >> maria: they are not looking at the 38 times earnings. >> anthony: wow, i have this opportunity to buy the luxury grand. i'm going to buy the 37 or 52-dollar stock. this is not something that you want to old. >> maria: anything strike you, ibm once again earlier this week weaker than expected, that sort of the story for multinationals, right? >> anthony: we were having the conversation, if you look
across, it's not just the energy sector that's having a trouble. you have a problem across every sector. that's a sense of the economy slows down. they're manufacturing the earnings by buying in shares or laying people off or cutting costs, but each one of these companies is suffering from what we call top-line revenue growth. >> sandra: unexpected one that. was supposed to be the saving grace in time of trouble. oil prices came way back down. but people still buying opportunities when it comes to energy. >> anthony: they haven't fallen enough yet to make them appealing. last night we had dinner with larry summers. >> maria: how did that go? >> anthony: it is surprising, maria, we were sitting on the set a year ago, if you told me this is where oil prices would go, i would say we would have
consumer demand. people are saving the money. they'll go buy an extra six pack of pepsi, by in large, 65% of that money according to professors is being held in savings account. that's not helping the economy. >> maria: 5% right now. lego has been a start performer all year. toy maker warning problems in the bussiest time of the year. set to go launch a six and a third billion dollar capital increase. syrian president bashar al-assad visiting moscow and tiera -- yra banks to seek investors for a butte start-up. ♪ ♪ ♪ ♪
>> maria: welcome back, toyotaia announcing a massive recall. cheryl. >> cheryl: this is due to defect in power switch in several models in carrolla and camery. some children may not see their wishes fulfilled this year at least if they're hoping for legos, they may not be able to make enough plastic bricks to keep up with the demands. shut down the u.s. online poker industry four years ago, guess what, he is now sending his sight on daily fantasy sports business. his office is investigating draftcipgs and fandual violates
federal law. no comment yet, guys, we know about the fbi and doj, what is his role in this? why go after these guys? >> maria: money? >> anthony: he's known for that. this guy -- i mean, i'm not picking on the major, he did this in the 80's. he'll be in the mix. not my favorite guy. >> sandra: draftkings is saying and legal. things are changing. they got so much money so fast.
>> anthony: prey into the weaknesses. if they are doing something illegal, they should be shut down. he didn't get into the game because of now because of the publicity. >> cheryl: there are federal laws in place, okay, but they have to decide, all of the agencies together whether or not this type of gaming violates that. >> maria: skill. >> cheryl: the other question is the money side of this, by the way, parent company century fox has investment in draftkings, we have to say that. they have to get on board right now. >> maria: does anybody get in front of this -- [laughter] >> cheryl: yeah, people are afraid. >> anthony: people are afraid because the government has clamped down and they are afraid to speak up.
three to four of the cases have been overturned. that's embarrassing. he may not like me saying that. it's a free society. >> maria: you're right. >> anthony: nobody wants to say anything. they are trying to keep the mouths shut. this is wrong for the society long-term. i'm looking forward to my irs audit now that i just said that. [laughter] >> maria: now expecting to get audited. >> maria: now you're expected to get audited because you said something. shut up. >> anthony: we had dinner last night, a couple of guys --
and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. >> maria: still an issue for small and middle market businesses struggling to get from the banks. helping private companies raise capital by investing in leveraging loans. joining right now chris.
good to see you, thank you so much for joining us. >> thank you. well, basically we are looking to finance companies that earn between 3-$25 million, we see a lot of demand, a lot of interesting companies. the companies that we finance are necessary attached to the broader attached because they have their own niches. the economy can be going down or slow but they still have an opportunity. >> maria: the loan demand is there, you think? >> the number of acquisitions are down substantially year over year. >> maria: why? >> that's a good question. there's a lot of providers of capital and fewer bo-boworr orbing
>> we are very well prepared for that, all of our liabilities are fixed rate liabilities. our industry bbc industry, largely two-thirds of the loans are floating rates. it's not a problem for us. i think the real issue is why the rates are rising. >> anthony: will slow the the demand, you think? >> all sorts of macro effects. trying to buying less. if it's rising because the economy is getting stronger, i don't think that's a problem. >> anthony: real interest rates rises, nominal not so good for anyone. >> maria: traditional banks are not going to kind of lending that opens an opportunity for you.
>> i think the regulatory, washington is trying to strap the banks down really tight and keep them from making loans. it's very difficult to get loans specially for smaller businesses. banks are looking for hard collateral, short-term, structures, we are able to offer flesmable structures -- flexible structures without having mandated >> sandra: i'm trying to think of the right question that would speak more broadly. what are you seeing as far as most interesting way to invest in companies right now, what trends are you seeing? >> bdc. >> maria: business development company.
>> we are getting some very good rates, growing companies and we think that's a very good place to invest. >> maria: is there any specific growth that you're finding more opportunity other others or just very much across the board differences in terms of kinds of companies you're talking about? >> in the small companies there's lots of niches. you are investing in companies that provide advertising for hotels and things like that. the creativity and the type of businesses, are all over and so we are seeing a lot there. >> maria: good to have you on the show. >> thank you. >> maria: wall street continues to weigh in on uber public debut but the company says it may not be ready for ipo just yet. stay with us.? ♪ ♪
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maria: good wednesday morning, it is october 21st. with me is sandra smith and wall street week host anthony scar c scarmuc scarmucci. paul ryan is open to running for house speaker, however heaney's the support of his party across all caucuses. he is giving his colleagues until friday to express support before he confirmed his decision to run. >> we need to move from an opposition party to a proposition party. because we think the nation is on the wrong path we have a duty to show the right one. our next speaker has to be a visionary one. truly be a unifying figure had gladly serve. maria: initial public offering, at $52 a share, the stock will open today, that was valued at
$9.8 billion, and might open higher than that, stock will be sold under the ticker symbol race. earnings setting the tone for markets, general motors reporting earnings before the bell this morning, look at what we are seeing in terms of futures, indicating a higher opening for broader averages, dow industrials expected to open up better than 70 points, the nasdaq composite as well, checking your mixed performance there, take a look mostly to the upside, the isn't the 100 up 37 points, the cac around higher by 30 points and the dax index in germany continuing to recover all of 1%. breaking news every night, at syrian president bashar al-assad was in moscow for a surprise visit, meeting with vladimir putin for military support in the fight against islamist militants in syria. western nations have accused
this fight against isis as an excuse to attack anti bashar al-assad forces. looking into the business model, fantasy sports terms, the new new york office wants to know if these firms violate federal law. draft kings say fantasy sports amounted legal games of skill, not illegal gambling. fox business's parent company 21st century fox has an investment in drafting his. queen elizabeth meeting with the chinese president during his visit to britain yesterday. during a state banquet at buckingham palace, queen calling the visited the finding moment for the future of the relationship between the two companies. ♪ we got bad blood ♪ bad blood ♪ take a look at what you have done ♪ maybe now we got bad blood ♪
maria: check out martin o'malley. when your numbers in the polls are syncing and you have no where to turn there's always a mess left, democratic presidential candidate martin o'malley breaking into song during an appearance on but view. the maryland governor bringing out the charge, taylor swift -- >> i love you but you didn't break into song, you broken to misery. give you the news flash, stop singing. >> a rate increase, volatility in the market, is the economy too fragile for the federal reserve raise interest rates, bring in todd horowitz, jeffrey cleveland, good to see you guys, you think the economy is fine. >> but i forgot my guitar
offset. third quarter was weak, third quarter gdp numbers which we will get next week on the 29th could be a weak number that could send jitters through the market. maria: what is so fine about the economy? >> the sector looks good if you separate the economy, look at the durable side we see weakness in exports, weakness due to the stronger dollar, services at a ten year high and that will power -- >> auto sales are seasonally adjusted. maria: housing did well yesterday. >> where is housing doing well? maria: housing was up yesterday. >> who is buying them? the average guy can't borrow money. these hard to diagnose because there are traditional historical measures. economy looks ok but we were talking in the green room where the middle class and lower
middle class -- maria: haven't seen their wages move in a long time. >> larry summers said last night that average american has $0.09 less in their pocket per dollar. maria: how does he get to that? don't know where that number comes from. >> my question is we don't have the demand for big growth, we don't have enough wealthy individuals or governmental demand to push the gdp number north of 2.5%. >> 2.5% economy. >> not about being satisfied. if you have 2.5% growth, if the unemployment rate is 5.1%, the real unemployment rate at 10.1% down from 18 so it has fallen dramatically and moving lower the question is should you be at zero on the federal funds rate?
maria: we are not in any emergency situation anymore. >> we are not in any emergency situation. we are in a crisis. people can't live any more. the middle class is dying in this country because people say everything is ok and did is not our problem. it is the problem. as the average guy is not making money, get a job for $12 an hour and $8 an hour, you were making $60, get a job at schlumberger or walmart, that is the kind of thing. >> get a job at wal-mart or mcdonald's and they count it as two jobs. maria: where are you going with this? where should you be right now? just run for the exit? >> the first thing is the fed should stop -- they need to raise rates under any circumstances, let the weak flush. it is time. maria: even if it causes a great sell-off in the u.s. stock
market? >> who cares about the stock market? let's worry about the american people and not about a stock market. maria: i don't think we had the same coffee this morning. he had his wheaties. >> less about the market than the market cares about the fed. guys like larry summers, chairman ben bernanke are more concerned about housing starts, jobs data, net consumption growth. they're less concerned about the market. maria: larry summers advise the federal reserve not to raise interest rates, he basically said the economy is not strong enough. >> there's nothing going on on the fiscal side. we have a totally dysfunctional congress and they're not doing anything to help the fed, no extra pillar to support growth in the economy. >> should we talk about income? good news on income is it happens later in the cycle when you get less flacon the labor markets and we have the unemployment rate at 5.1%.
wage growth should start to pick up. >> where do you see wage growth? >> it is in the data. if you look at the atlanta fed track of wages which tries to track the median wage earner so it tracks a certain person through time which is different, takes the average wage is up 3% in the last 12 months. i would love to see -- maria: 3%. >> not just this anemic 2% or no with chris, we're seeing a bit of wage growth and in real terms factor out inflation. >> the economy. >> 3% growth consumer spending. maria: what do you recommend, with that notion, actionable call. >> all like 2011 in a way when people were worried we were on the cost of a more material slow down, a recession, that was not double dip recession. i can't get to that yet.
that doesn't make me concerned about equity markets. we still see value there. one of the areas that has been beat up lately, high-yield, corporate bond sector, still think there's opportunity there. too much pessimism has been built in and we may be due for swing in the direction. maria: hard to argue with some improvement but where is that? >> i am putting my money into commodities, i am buying into the beaten down sectors that i think are going to hit value when we come back. overall, walmart is down 30%, caterpillar down 30%, ibm might as well -- they have gone from the big great machine to they are lucky if they ever make numbers again. i want to know where the real growth we are going to see without mergers and acquisitions, without the sheet money, where are we going to see
growth? they are offering a ridiculous zero% financing which works out to 8% of the public so we are happy to make those deals all day long. when you look at the overall picture i would like to see where we are going to get it. when i go to the grocery store, x food and energy, we don't talk that. maria: stripping that out, good advice, good to see you. thank you so much. despite wall street wishes, it could be awhile before the company makes its public debut. nicole petallides on that story. nicole: that is right, telling the wall street journal, live conference despite the company's $50 billion valuation it as nowhere going public, they are maturing as a company but i still like a great as saying we
are in junior high and someone is telling us we need to go to the prom but it is a little early. give us a few years and little time. went on to say mark zuckerberg has urged him to go public, joking misery enjoys company so continues to grow as a company but saying they are not ready to go public just yet. maria: is the year they with nicole petallides and lauren weekdays and next week on the fox business network at 5:00 a.m. eastern right before "mornings with maria". i sat down with the ceo of novartis asking what was next, the answer may surprise you. >> gentlemen, we can rebuild him.
maria: novartis on the cutting edge of each drug care and development, but it pushed into the marriage of health care and technology, specifically biotech. the fox business network exclusive, where is the growth and what is on the horizon now? >> we focus the company on three big divisions that have global scale, pharmaceuticals, i care and generics and now we are right now in the process of
launching two potential blockbusters, a drug for heart failure and a drug for psoriasis. we are driving growth in developed markets and margin markets. maria: are you seeing margin pressure in the eye care business? what can you terms of in eyecare and it's really good pipeline? >> if you look at the fundamental demographic trends in eyecare their favorable because we have an aging population, we will see increased demand for eyecare for the next ten years. we have seen some competitive pressures in interocular lenses and a little bit of a slowdown in the emerging markets and so once we generate the kind of innovation in that division we have in other divisions we will see growth. maria: you have been innovative and announced a partnership with google when it comes to i wear, any particular contact lenses, tell us when you're trying to
do. are there actable sensors in the contact lens? >> we see biology and technology to solve the biggest medical problems and eye care is another example so we entered an agreement with google where we are developing contact lens that allows your eye to autofocus like a camera so there are sinceres, microprocessors in the lowlands and it is a good way to bring technology and biography together, google knows about technology. maria: you have a sensor in the contact lens telling you about the sugar, of blood sugar for diabetics. >> technologies, one would be a group that is monitoring and the second lens that is more of an auto focus lens, the sensor and looks at where it is focusing, if you are reading it will allow bought quince to correct the vision and if you look up and look at a distance in a millisecond allows your eye to
see the distance. maria: absolutely fascinating, important stuff. let me ask about this cassette, integration, the oncology asset, where are you in terms of integration and where do those assets fit in the overall picture at novartis? >> we close the deal where we acquired their oncology assets for $16 billion. what that has done is strengthen our position in oncology. we are number 2 so right now we are in a position of integrating assets into our business in 60 countries around the world. maria: where are we in the fight against cancer? >> we are making great progress, data is allowing us to manage the disease like we have never been able to before in terms of targeting, deep sequencing of the human genome has enabled us to look different tumors and genetic mutations that are implicated in different tumor types opening of new targets for
novartis joel is a great time for innovative medicine. maria: pretty extraordinary when you look at where we are in terms of what is in the pipeline for cancer as well andy mentioned the heart failure treatment, lung cancer treatment, want to ask about that as well. and this is a global story when you hear what is in the pipeline. >> it is the global story because we're seeing in emerging markets will willingness to pay for drugs if they offer a material benefit over existing drugs and if they extend life. that is key to the industry if we come up with innovative new drugs that are stepped change better than what is out there you will be okay. maria: do you read that the fir storm over prices for pharmaceuticals is going to create even more regulation, higher barriers for novartis and the entire industry as a result of what is going on?
how do you grow heavy handed governments? >> it could if we don't address it. it is of the pharmaceutical industry to look at the value each of our new drugs is delivering to patients and priced responsibly. it is the new example of that where independent bodies looked at the price we set for heart failure drug and they said it is cost-effective. maria: my thanks to joe jimenez. they with us. investment approach remains. we ask questions here. look for risks there. and search for opportunity everywhere. global markets may be uncertain. but you can feel confident in our investment experience... ... around the world. call a t. rowe price investment specialist, or your advisor... ...and see how we can help you find global opportunity.
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the jedi. they are real. maria: looks great, we're month away but the force is strong with "star wars: the force awakens". twitter reporting more than 17,000es per minute for the full length failure, more than one million related tweets, facebook said more than one.3 million people had 2 million interactions related to star wars with in the first hour of the trailers screening, even mark zuckerberg weighed in posting his work amazing, i love star wars on of an age. meghan mcdowell. dagen: a billionaire, love star wars but neil cavuto can't. he hates star wars and did nothing but rep on it for two
hours. i have a clip that i will air next hour here. pretty funny. bose star wars trailer and free sales crashed the fanat dagen:bose site. maria: eight times the volume. maria: of the previous record holder. what is it about star wars? dagen: a m. see also set a record, ten times the volume of the previous record holder, more than a thousand shows sold out in 12 hours. dagen: it is like trying to explain why chocolate is delicious. i don't know how to begin. talking to you and in froming you and it is just lighting -- i have seen it 25,000 times. the john williams music reaches
into your soul land grabs you. >> i saw the movie when i was 13, now you can take your children to these movies in 2015. it is a cross generational appeal. the highest grows ever. dagen: something neil cavuto does not understand. maria: has watched them? maria: dagen: probably seen clips of them. i said to him -- >> he is -- from the austin powers and movies. maria: looking forward to that, we will see you and neil, next hour, bill mcnab is with us with his take on the markets and investor sentiment. we take a look at the world of white collar crime with richard and former quest ceo joe mott ceo. we will be right back.
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maria: happy wednesday, it is october 21st, i am maria bartiroma and with me is sandra smith and anthony scarmucci, all right is open to running for house speaker but needs to see the support of his party across all caucuses. he is giving his colleagues until friday to express their support before he decides whether to run. >> we need to move from an opposition party to a proposition party. because we think the nation is on the wrong path we have a duty to show the right one. our next speaker has to be a visionary one. truly be a unifying figure, i will gladly serve. maria: big story in the markets, ferrari price than initial public offering on top of expectations, $52 a share, it is
valued at $9.8 billion, the stock will be sold on the stock exchange today under the ticker symbol race. earnings and setting the tone for markets, general motors, boeing, coca-cola do before "the opening bell". as we await those numbers look at the market syndicating we expect to see a higher opening for the major averages, dow jones industrial average shot of the morning up 60 one points, nasdaq, isn't the 500 stronger. good story in europe, look at markets, what we are seeing across the board, the s&p 5 foot and up 1%. bashar al-assad in moscow for a surprise visit. the meeting was to thank vladimir putin for military support against isis in syria. western nations have accused russia of using this fight against isis as an excuse to attack and ty bashar al-assad forces. the u.s. attorney looking into
the business models behind fantasy force turns like a draft kings and fanned the will, the new york office want question of these companies violated federal law, draft kings say fantasy supports amount to legal games of skill, not illegal gambling. a famously shutdown the u.s. online poker industry four years ago. the parent company, 21st century fox has an investment in draft kings. >> that is up the middle, another hit, another first swing, one run scores, here comes orlando, two more runs on the board. maria: one game from the world city, the toronto blue jays winning 14-2, game 5 is this afternoon. if the royals win they are in. then there's a big low in new york, same situation for the new
york mets to be the chicago cubs, four -- can you say momentum? daniel murphy hitting the fifth home run in as many games signed a plan of record. historic wrigley field, to sandra. >> we can't dispute that. and announcement by paul ryan, the lawmaker says he will run for house speaker, blake berman with the latest in washington. >> reporter: this is far from a done deal, paul ryan announced last night he jumped into the speakershipped for a but after being courted by the republican establishment, he laid out terms, reduced weekend travel to see his family and a eliminating the rules of lead to the recent surprise against john boehner, the ability to call for a vote
to oust the speaker. >> if you can agree to these requests and if i can truly be a unifying figure than i will gladly serve. if i am not unifying that will be fine as well. >> several within a 40 member house freedom caucus from the conservative right are expressing stipulations. daniel webster has also said he will stay in the race. ryan needs half of that group and the remainder of the house republicans to clear the 218 vote hurdle. if he can't is anyone's guess who could. on top of that, what would potentially happen next? maria: a lot of open questions. joining us now is heritage distinguished visiting fellow steve more, good to see you. your take on all of this.
>> who could get -- i am thrilled by this. this is a business show, finance show. if you care about economic growth for our economy, who could be better than paul ryan? he is tax cut, pro entitlement reform, pro-growth, a fantastic choice. and talked up front, if he is going to be speaker he will probably be president someday, it is not the greatest launching pad for being president. that is something that crossed his mind. i personally think he is doing this out of a sense of patriotism. what is good for the country is good for the party, not his own self aggrandizement and that is the reason. maria: is a conservative going to support him? is the freedom caucus and the real conservatives all the way to the right, i they going to
put up a fight or finally come together with rest of the party? >> i am a conservative. i like a lot of the stuff of freedom caucus does. i worked closely with them but to say for anyone in the freedom caucus, paul ryan is not conservative enough, that is crazy. that is eating crazy bills lizzie has a whole history of being there for the conservative movement. on all these important issues. this guy, here's what is cool about this, if he is speaker of the house he is going to be in a central position to do tax reform, to do social security and medicare reform, the big boulders we have for 20 years in this country. maria: here is anthony. anthony: on the freedom caucus we know there has to be a consensus, we know there has to be a give and take. what do they give here at the
freedom caucus? >> here is what the freedom caucus wants and what i want as a conservative. not to expect the republicans are going to win all these fights, the debt ceiling coming up, at least republicans will fight for the kind of principles, that is important not just as a matter of policy but politics. donald trump phenomenon out there, voters are cranky, they are a angry, they feel republicans are not fighting obama, that is the fine line paul ryan is going to have to walk. will he fight obama on these things? we will see. that is one other thing. do you remember what paul became a national figure, it was remember when obama had economic summit right after his election and there was paul ryan and everyone is wow, this guy is amazing, he knows more about health care than barack obama. that is what we want to see.
maria: how unprecedented is it to have a politicians that could be the next speaker of the house to say you have to agree to let me have more family time? a lot of people are talking about that. we will talk about this on outnumbered. if a woman word to say this, the world would be talking about it. how impressive is it for politicians to say that? >> i agree, good for him. you are exactly right. this was a big factor for him. i remember when i talked about this to him which was exactly a week ago, i am not going to do it, i don't have time, i have a few young kids and i want to be there for the soccer game and birthday parties. being speaker of the house should not mean 24/7 job. this sets it up well for future
speakers as well but there is a lot coming up in the last few weeks, i'd mention the debt ceiling, there will be a big fight about the budget caps, just to name a few, immigration call all of these things and who is better to negotiate these and paul ryan? maria: on joe biden, if he comes in, how does the race to the white house change? >> it is a plea to person race because bernie sanders is not a serious candidate i don't believe. hillary is on a roll. her debate performance was excellent last week, breathe new life into her campaign, the polls are showing that. i think joe biden had much -- a big problem as a presidential candidate and he is attached to the head with barack obama and people don't want a third barack obama term. we want to change.
there is such that change fervor out there. how does joe biden run as a change agent? i don't see it happening. maria: who is best on the right to pick on hillary then? >> i think it is a four five prisoners, carly fiorina, donald trump, jeb bush. marco rubio. i would say if i had to put my money on somebody it would be -- if -- here is the thing. if he beats jeb bush in florida at he is done, marco rubio becomes a kind of consensus candidate. what a wonderful line up. marco rubio as president, carly fiorina as vice president and paul ryan as speaker of the house, doesn't get better than that. maria: could get stuff done in that combination, see you soon. the fox business network teaming up with the wall street journal in the next debate, we bring you republican presidential debate focused on the economy, and all things your money taking place
in milwaukee, wisconsin november 10th, you can only see it here on the fox business network, please join us for that debate, check out shares of chipotle down 10% in the pre-market, it will be one to watch, getting slammed on third quarter results, sales growth slowing sharply from a year earlier, the company's profit missed expectations, stock will open down sharply. the daily fantasy sports industry, success shutting down online gambling in the past, want to see where this leads, details next, back in a minute.
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we have to stand for the values of freedom. who's going to take care of the christians that are being eliminated in the middle east? but for the united states, who? who's going to stand up for the dissidents inside of iran that are brutalized each and every day? but for the united states, who? who's going to take care of israel and support them - our greatest ally in the middle east? but for the united states, no one - no one is capable of doing this. the united states has the capability of doing this, and it's in our economic and national security interest that we do it. i will be that kind of president and i hope you want that kind of president for our country going forward. announcer: right to rise usa is responsible for the content of this message. maria: welcome back, a new york city police officer shot and killed in the line of duty today, good morning.
cheryl: another police shooting in new york city, this time 33-year-old officer randolph holder was shot in the head pursuing a suspect in east harlem. this happened late last night. holder was brought to the hospital in critical condition where he died surrounded by his family. commissioner bill bratton saying this is, quote, as bad as it gets. uber is slamming brakes on ipo, the ceo of the company revealing the company not yet ready to go public. he also went on to say china is a big focal point for uber, that is a third of all uber take place in china. remember the new york federal prosecutor who shutdown of the u.s. online poker industry four years ago? now he has a site that the sports business, his office is investigating the business model behind fantasy force sperms, violates federal law,
investigation in early stages, the company's top they can operate in 45 states these two companies, some of those state on looking at whether or not they want to maybe go after draft kings. but jumping into the game. one thing that is not hurting is the business because you still see people participating in fantasy sports. >> growing every single quarter and fantasy participation. one thing charles payne said is it helps the local bookie, the pressure to put on these guys. i don't have the team because i am focused on stocks. maria: the thing with these sites is so popular but the money they are pumping into advertising not just for the television networks but also nba, nfl, 21st century fox, everyone wants to get into this
business of business has to fight back and say back off. maria: policy are ads for fan the will and draft kings, everywhere. anthony: it is not just odds but skill. that has everyone in taste. cheryl: the fbi and doj investigating is violating federal law. they won't come up with anything they can to go after -- regulate and restrict it. cheryl: maria: i know you have something about that. breaking the internet, a look at the social media's rays in reaction to the force coming back in a minute.
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built for business. maria: bb looking to strengthen operations in china, in a deal with asia's largest oil producer, china national petroleum. the cme group looking at energy. >> this is not coming without a lot of criticism. a lot of people saying why is bp doing business with china? a lot of human rights abuses. we saw china invest the biggest amount of money ever in the uk on their nuclear power projects and bp is trying to brush off the concerns about human rights abuses. the reason is the labor union leader of the u.k. did meet with china to embrace those issues and that does provide bp some cover. big deal for china, look for
them in africa, china and iraq. >> we know when it comes to saving for retirement the earlier you start the better off you are, the next few years can have a huge impact on retirement money. the head of wells fargo institutional investment and trust. you have the results of the annual wells fargo retirement study, you are overseeing or working with 5,000 retirement plans across corporate america. >> the study be rolled out there was a surprising gap of retirement savings for people on the doorstep of retirement with two age groups, 55 to 59-year-olds. and 60 plus save 50,000, there's a retirement gap on the doorstep every time. maria: why did older folks not save enough? i would have thought the
opposite. >> the 55 to 59, those that were 60 plus. the power, with savings done. maria: did you get into the 401(k)? >> that is somebody who stressed the importance, tipping them off on that. speaking of that, the millennial generation, those that are 19 to 35 years old are they getting it, are they saving it in a way that you will be happy with? >> they know this 401(k) thing is important so lot of designs, the good news is they are getting in the plan that younker age so they are getting the power of time and they will be in good shape. we look at 40 plus-year-olds in this survey, we found this thing called consistent saber, they
started saving from the first day on the job and when they do that they save 2.5 times more than those that didn't start. >> what advice do you give somebody they come to you and the 62 years old and are undersave, what do you say to those people? >> you are where you are, 62, you may have lost time or done the right thing so it is a step back and give you need to save more do a financial inventory and step up your savings. there are lots of ways to do that, hopefully at a higher income earning levels so take lid vantage of your 401(k) up to the limit and a match, exercise your contribution, another $6,000. >> one message is is never too late to save even at period where doesn't look good, don't give a. >> it is never too late. one of the other strategies is i am going to work longer, i wouldn't count on that, try to step up your savings as much as you can even in a short time horizon. maria: people don't really know
what is in it or what they should, how they should allocate money. you are dealing with 3.5 million employees, how do you advise those people of what the best portfolio is to have those 401(k)? >> two extremes, the younger generation, not as complicated so you can join the plan, save 10%, invest in a target date fund and call me in ten years because it is straightforward and simple, those that are nearer tyree yretairee you have managing manage risk and optimize their outcome. maria: we appreciate it. joe ready boring ready. with the president's hand-picked attorney general focusing on white-collar crime we will talk with two and to have done their
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i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. maria: welcome back good wednesday morning i am maria bartiromo it is wednesday october 21 top stories 7:30 on east coast, this morning, congressman paul ryan open to running for house speaker he needs to see the support of his party across all caucuses he says says he is getting colleagues until friday have to expresses support before he decides are whrnt who are not to reason i. >> we need to move from option party to a proposition party because we think the nation is on the wrong path, we have a duty to show the right one. our next speaker has to be a
visionary if i can to rule be a unfying figure i will gladly serve. >> health ferrari priced yip yip top of expectations last night priced at 52 dollars a share value ferrari 9.8 billion dollars, the stock will be sold on new york stock exchange today. under the ticket symbol raise rr-a-c-e. >> general motors boeing coca-cola out in moments time, we are looking at a firmer start to broader averages we have money in equities ahead of earnings, for the third quarter the dow jones industrial average pardon me are expected to open up 68 points in, europe similar story gains there as well across the board, for the ft100 up 30 points cac quarante in paris up 40 points dax in germany up almost 1% almost 100 points right here check out action in asia, big day for the shanghai composite, declining 3 1/2% worst performance since about september, for the shanghai u.s. attorney looking
into the business model behind daily of fantasy firms like draftkings fanduel says it wants to know if these changes violated federal law draftkings fan ordeal say fantasy sportings amount to legal giems of gill not illegal draj he should the down u.s. poker industry four years ago 20th centu1st century investment in draftkings. >> starbucks, car maker fiat repay up to 34 million dollars in tax breaks each offed all companies should pay fair share eu investigating practices in all 28 countries. >> the sony hak saga continues this morning company entertainment unit a estimate with current and former employees, agreeing to pay up to 8 million dollars, to
reimburse them for identity theft revolted losses credit card fraud losses legal fees segment stems from last year's incident hackers broke into servers released thousands of documents e-mails social security numbers. ch. >> wow -- >> when -- california, 4 clont 29 people wednesday october 21, 2015. >> 2015? >> we were in the future! . >> seems like a long time ago ahead back then, the future is finally here if the 1985 hit, back-to-the-future part two, stars marty mcfly doc brown traveling to keep marty's future children out of trouble the day they attractively to october 21, 2015. here we are, well we may not enjoy flying cars self-lacing shoes "jaws" 19 someing predictions became reality virtual reality headsets
videoconferencing possible chicago cubs world series championship -- going after fantasy sports watching launching a probe into model behind sports firms whether it violates the law joining us now for exclusive interview former qwest hadn't ceo joe naccio richard scrushy thanks for joining us. >> joe you served 6 years in prison convicted of charges insider trading your thoughts on the probe, and how this environment has changed. >> well maria i think today's probe is part of what is wrong with our federal criminal justice system, first of all, if people want to you know, gamble odor do their skill industry where is great harm this attorney general or our attorney general -- have not prosecuted a single person for violating
our rights, with universal surveillance they don't go after their own elitist political class there seems a war on business. so i think you know he is reeling from recent loss at the supreme court, on insider trading look to go grab headlines, i think that is exactly what is wrong with our criminal justice system it is politicized delegates power have to interpret create new law a legislative function. >> how do you see it you were convicted on multiple charges received a sentence close to search years in prison. >> i agree with joe, absolutely, i mean there is an opportunity here for there is -- they are successful, you got a business that is exploding in terms of growth, i mean why not be a target. a lot of glory for prosecutor to go after a target only go after you go after something successful that is an opportunity to make headlines there is an opportunity let's find out, before we go out and announce we think there might be something wrong to destroy strien destroy a company, to
bring people down when you throw that out there, i am going to look into this going to do that okay now he you know you start making it look bad, now, that will hurt their business, because people will back off so they are actually this is a financial problem when you start attacking a company like this, and as joe said there is a real problem with this. maria: i think you both make a really good point the environment has changed i mean you got u.s. attorney general loretta lynch saying time to hold individuals accountable for white collar crimes that is what we saw forgive me saying this during days both of you walking that perp walk people wanted to see the big shots come down. >> absolutely, there was an shock and awe, 25 fbi agents would raid a company thought maybe there was something wrong, now, we went through a period of time where they literally did investigate, find out if there was someone should be a target, and worked out fine, to try to find solutions if companies were in
fact doing something wrong if someone is doing something wrong you find out they are, in fact guilt of that no problem with progress acuteing them dprobt destroy companies many times what happens the customers leave a company when under investigation. >> reputation is destroyed before you get a shot in court, because joe, who ever is calling fraud becomes the judge the jury and execution right there. >> public opinion. >> yeah. >> maria that is one great fallacies of system you get a day in court anybody through this process knows by time you get to trial if you go to trial remember 98% federal indictments end in appellee barring 2% that go to trial the government wins 98% system so stacked against you, it is impossible to win as richard was pointing out, an investigation or an indictment against a public corporation is a death sentence, because
you can't roll over debt you can't raise new money customers start fleeing long before you get to trial will take five years before you get there, you are going to go out of business we saw that with anderson, even though the supreme court overturned that conviction company went out of business 50,000 people got laid off i think it the is irresponsible for public announcements that they are going to look into a business model, where is the crime, have a crime before you prosecutor, don't go looking for one, remember we have 4800 criminal federal statutes, and 300,000 federal regulations, that can put you in prison. so if the government wants to look for something, they can fabricate it when you have universal surveillance by government on top of that you stand no chance, i mean this is a fundamental threat to our freedom and at a democracy what about former diamondback port followo manager neuman,
anthony chasen, do you agree. >> absolutely insider trading wars are some of the most ill defined laws on federal registrationter i applaud supreme court turning that one down i wish they had gone further we need dwafgs of what insider information really what is the standards for materiality then go into the wh and look at the abuses that justice department regularly does where they withhold exculpatory evidenintimidate witnesses the rule of law applies to everyone that means when the justice department abuses the law, their held responsible the prosecutors withheld critical exculpatory evidence nothing happened. >> to get your take both takes
requireard you had more than four billion dollars in republican treated more than 100,000 patients day not only united states but around the world you want toaway in on obamacare this morning. >> obviously, i think, you know great -- but the problem we've had is that the things were supposed to happen didn't happen things surprised us for example we are talking doubling now of the payments people to having pay for insurance monthly basis. >> not seeing the economy move because people may have saved money at pump but spending all money on affordable care. >> some policies gutted in terms of coverage huge deductibles very difficulty situation doctors dropping out of the program doctors saying i am not going to practice men anymore we have serious problems i don't think it is working like it was supposed to -- >> we will leave it there very good to have you your insights, thank you very much joe naccio richard scrushy we appreciate it fix in about at
massive recall. cheryl: good morning, toyota recalling 6.5 million of its cars worldwide, today, this is due to a defect in the power window switch several models including kor rolla camry, toyota says not aware of any crashes caused by this glitch we've got wild weather, here today is alert for you several rounds of storms are soaking markets of phoenix arizona area funnel cloud over ground 15 miles west of phoenix storms dropping more than an inch of rain caused flooding flight delays as you can see on screen stranded very scared drivers, national weather service issuing flash-flood warnings in parts of arizona continuing through today. >> earnings rolling in a rough third quarter where should you position yourself for the fourth quarter and beyond bill
mcnabb chairman ceo vanguard a company with nearly 3 trillion dollars under management certainly a leader in investing overly good to see. >> you great to be here. maria: thank you so much for joining us wow you've seen so much joining vanguard 1986 have seen so many changes in terms of investments we know it was tough third quarter can you characterize the investment landscape for us. >> first of all, as you probable not going to be surprised we don't spend too much time worrying about quarterlyly results try to get investors to think long term i think what you are seeing, played out all year is a lot more volatility, in the markets, and that tends to make investors more nervous, so our counsel to try to ignore the volatility, and really take a long we're term perspective. >> is that what you saw third quarter weren't seeing clients say look i want to get in this for the long term not worry or did they become risked a veers because of volatility we saw. >> we did not see changes in terms of cash flow patterns or investing patterns we didn't
see a lot of transactions moving from one asset create or to another people basically ignoring at least our investors ignored the news. >> you've got one of the largest etf i businesses indexing businesses obviously what are you seeing there? have agent has that been so sufficiently. >> i think two big factors driving the move to intexting, one istive management as overall category has not been able to outperform, index funds. >> under performing. >> pretty consistent 3 year 5 year 10 year numbers per cent of active funds that do outperform is very, very small hearted to pick them ahead of time the second thing that has been going on a lot of financial advisors changed the way they do business, you know in old days it was i am going to tell you what is to being to buy what fund is going to be best performing fund what you see now much more focus on asset allocation they
complement asset elaboration with low cost solutions leads to index funds. >> when you look at asset management i am going to turn to you in a moment because you are a fan of asset investing you've got a fund to fund when you see costs involved in that, average investor is saying why pay huge fees in a hedge fund when in fact etf indexing offers a much better solution because it is so much cheaper? >> that is right. >> i mean our view is fees er incredibly important, whether you are talking passive or active as you know we offer, by one trillion of three trillion under management is active but very low cost we think that actually gives the manager a tail windy in terms of of the ability to at least have a chance of out performing. >> anthony scaramucci weigh? >> i think room for beet in a poetry folio on hedge fund side, the reason why there's three trillion dollars in that space is that people have demonstrated the ability to reduce volatility in it
portfolio help meet costs. >> related to etf consultationly cooperman larry so manyers talking about etf the price and the undergo basket or disaggregating now, and it may say as a result of the volcker rule that means stock prices are fluctuating in a certain way that may not reflect the the price of the actual etf with you aggregate those stock prices are you worried about that do you think that is related to the volcker rule. >> we saw that -- you know august 24 was the day that i think everybody remembers, clearly, that is when you saw that it is widest. and i think there were a couple of things, going on there, on the equity side, what was happening, is that with all of the volatility that was in a sense imported from asia if you will over that weekend, in into monday morning new rules that are in place, around price movements for both etfs and individual stocks kicked in, and these were post flash crash rule i
don't think they worked quite the way everybody thought they were going to work, so what you saw for example, in some equity firms, is if -- the underlying the futures. weren't trading. hadn't. so the market makers couldn't hedge their position, and, therefore, they backed away, and which i, of course, caused spread to occur between -- >> we're going to experience in the future. maria: in a simplistic way, when you have this stock gap rule where a certain stock can't open you want etfs to open but stocks within etfs are not open. >> cause of extreme volatility. maria: exactly. >> i think what you are going to see is adjustments regulators are vai kuhned to this i will say i have very constructive talking about what went on how do we adjust the rules to take that into account. >> no inventory left commercial investment banks used to help liquidity is causing another problem. >> you know the other part of
your question was you know, around the volcker rule there is no question that reduced inventories are affecting the bond market in ways we still have yet to really see. maria: something jaime diamond had written about banks forced to hold capital then not having capital to -- >> no problem but we are to broaden out a bit since you are overseeing so much money what do you see as biggest obstacle for u.s. markets forward changing interest rate environment changing political environment with 2016 or regulation. >> or regulation? >> kind of. >> all the above. >> you know -- our biggest concern going forward you know next 10 years is if you look at where we are at today, from evaluation standpoint equities are pretty highly valued if you look where growth is likely to come in we are likely to see over the next 10 years, equity returns, several hundt basis points below long
term average, then we are in very low inflationary period some is separably but a classic 60/40 portfolio. >> 60% stocks 40% fixed income. >> our best guess you might earn a 5 1/2 or 6% on that, as opposed to 9 historically. >> expectations down. >> that i think is a real important message that people need you to know really embrace. >> good to have you on the show you the so much for joining us, big mcnabb chairman ceo vanguard 3 trillion under management we will be right back. trade with f. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor.
trailer aired monday night "monday night football" more than one million related tweets since then joining the conversation fox business network jedi, dagen mcdowell. dagen: i love you for saying that call me. >> not calling me -- >> yoda is a very -- we -- >> i think has to do with my height. dagen: right presale records fandango 8 times over amc. >> it crashed and still made hit all these records, and despite all that neil cavuto spent two hours yesterday, disparaging "star wars" fans ripping on franchise here was just part of our exchange. >> tell me you adopt love in. >> i love it how do you not have a personal even moral connection with this story. >> moral? >> it is the greatest tale in more than history good versus evil where you were you -- >> saber thing.
>> where were you in 70s too busy with women throwing themselves at you couldn't go to movioccasionally. >> you gave it to him. >> i just -- >> that man. >> at a female attention -- leave it at that. >> neil i am with you neil. >> no you are not you don't hate it you justin haven't seen it. maria: that is true. >> watch that first movie with your kids you will be -- one -- >> it is mythology for all time around forever. >> you are right good versus evil. dagen: it is. maria: thank you dagen, former aig ceo hank greenberg and attorney david boies the latest news and reaction to former federal reserve chairman ben bernanke's book out they have issues with the
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. maria: good wednesday morning welcome back i am maria bartiromo. it is wednesday october 21, with me this morning fox business network sandra smith skybridge founder week host anthony scaramucci. >> boeing coca-cola gm releasing third quarter earnings boeing beat on top and the bottom lines, forcing adjusted profit 252 a share revenue 25.will billion dollars raising full year guidance revenue earnings and cash flow for the year, the stock is expected to open much higher that is a dow component coca-cola another dow component mixed results beating on earnings per share missing on revenue line posted earnings 50 cents a share, on revenue 11.54 billion dollars, as you can see coca-cola shares expected lower this morning, gm topped expectations with earnings auto unite reported earnings 1.50 a share revenue 38 pontiff 8 billion dollars,
that stock, is looking higher this morning, mixed markets but that certainly going to be a positive for the broader averages, paul ryan yes open to running for house speaker he needs however to see the support of his party across all caucuses he says giving his colleagues until this friday, to express their support, before he decided whether or not to run. >> we need to move from option party to being a proposition party. because we think the nation is on the wrong path, we have a duty to show the right one. our next speaker has to be a visionary one if i can truly be a unifying figure then i will gladly serve. maria: meanwhile, back onwrote ferrari a big detail prices ip initial public offering top of expectations 52 dollars share would value ferrari 9.8 billion dollars, the stock sold on new york stock exchange, today, under ticker race r-a-c-e futures
expecting a good open for the broader averages on upside dow jones industrial average near highs of the morning after those better-than-expected earnings reports we showed you, the dow off about 80 points right here nasdaq s&p 500 expected to open upside, in europe, similar story we've got markets there higher, take a look, between half a per cent, and 1% higher on ft100 cac quarante in paris dax index in germany, breaking news overnight syrian president bashar al-assad was in moscow for a surprise visit meeting to thank russian president vladimir putin, for his military support in the fight against islamist militants in syria western currency have accused russia of using this fight against isis as an excuse, to attack anti-assad forces get together with sir. >> u.s. attorney looking into business model hidden sports firms draftkings fanduel new york office says he wants to know if companies have violated federal law, both draftkings and fanduel say
fantasy sports amounts to legal games of skill not illegal gaming, he shut down u.s. online poker industry remember you four years ago fox business parent company 21st century fox has investment in draftkings. >> up the middle another hit another first pitch swing. one run scores. here comes orlando two more runs on the board! and it is 12-2 royals. >> then there is that two games both one game away from the world series the kansas city royals taking toronto blue jays to the woodshed last night, winning 14 to 2, game five is this afternoon royal win in, new york in studio new york mets -- [cheers and applause] beat out controlled substances last night by a score of 5-2, murphy hit fissile home run as many games tying a playoff for the record game four tonight, a historic wrigley's field got
momentum scaramucci going to be at that game. >> can't wait 2:00 flight at the wrigley. >>. dagen: we're really controlled substance fans. maria: you are a chicago girl how could you not --. >> they could turn things around there is time. maria: breaking news right now department of justice -- department of justice officials telecom companies hacked hillary clinton server the story that is huge story we got to get details on it tell us what is happening good morning to you. >> good morning to you maria that is right department of justice officials close to the matter tell fox business that they are concerned that foreign telecom breached hillary clinton e-mail server while visa on business, as secretary of state high on list of fees are china first indication, that federal officials close to matter are concerned about hacking by
workers at foreign telecom conjustice department official tells folks business her e-mails could have e-mails been hacked into by pelcom workers in these countries they got e-mails first and then routed them back through her home server, another official close to matter says that is telecom that foreign country could follow the trail of e-mails stacked at her server in the u.s. potentially break in that justice department officials used the word quote reckless, stunning, about unbelievable in discussing the controversy swirling around: 's use of home server personal devices while secretary of state. now as for the effort to designate e-mails classified or unclassified the justice department officials agree every e-mail she sent is classified because she hers is classified, as secretary of state and a former first lady. in addition, there is a growing release among cyber security experts that clinton's e-mails were in protected in the first three months of her tenure because
her home server did not have a digital certificate at that time and that is a necessary layer of security, during that time, mrs. clinton krafld as u.s. secretary of state to china, indonesia south korea japan just a minute palestine israel, belgium, switzerland turkey. maria: this is really -- a developing story bring in democratic candidate consultant doug shone thanks for joining us. >> great to be here. >> thoughts on that. >> look it is obviously extremely troubling, and sort of thing that can and probably will be continuing problem for secretary clinton what we don't see there, is any sense of intent on the secretary's part to allow this to happen. so i say that, the standard for progression is gross negligence it isn't cleef to me that rises to that level maria i would be not telling the truth if i didn't say that is very worrisome concerning
both as citizen, and as a political advisory. >> i mean the question, earlier in the week, about -- freedom of information act people felt she was trying to avoid that level of disclosure why are did not she say that is what i was trying to do the law is flawed why take superdefense tony deaf response. >> they didn't want to say that she was -- seeking secrecy when as the report just suggested she was actually doing the opposite, and putting us at risk so it got convoluted, story after story i don't think you need to be a democratically as i am or a republican as you are, to see that the story doesn't add up. >> trying to pick on trying to understand the facts. >> i think it is. >> not -- for me more of a -- >> i think she was trying to hide things i think premise of your question is radio it she was trying to hide things it went terribly wrong, she told a bunch of stories, that didn't prove have to be accurate, she did have the
right to do it, but it was clearly an ill-conceived judgment as i said, the standard for charges is was she grossly negligent there was no criminal intent for sure but that is what the justice department and fbi are now determining. >> we got the hearing on thursday she is headed to capitol hill churz to testify in fronts of benghazi committee will this hurt have in polls what are you expecting to tome out of meeting on thursday. >> i don't think this itself will hurt her i think she is only really going to be hurt now if there was a showing a, that national security was in fact compromised the definitive showing or we get a sense from 2 justice department the fbi that she or those close to her committed illegal acts. >> really question whether or not national security was compromised? i mean yeah, it was. >> well the president has said the opposite. she said the opposite, it remains an open question. >> just seems like left is
very successfully painting this as right wing conspiracy, and -- you know, are all just brought up on adale basis to bring her down in the polls that being stayed, i have to ask you because you are here great to see you about joe biden, i mean because this new poll out shows there is just not a huge appetite from democrats for him to enter this race despite what i think everybody was thinking the leading up to him potentially getting in. >> sandra you couldn't be more correct. two things, first, secretary clinton did extremely well in the democratic debate the polls and i think all neutral observes agree but second, joe biden candidatecy i think premises on the question that maria asked. which is is there cultability on part of secretary clinton or those close to her that would lead to serious questions being asked about her candidate 70 if so if joe biden gets in increasingly people are expecting he will, he is effectively setting himself up as the -- antonio
as we learn the remainder man if hillary's candidatecy crashes i don't think that is going to happen that is my hypothesis why he is doing. >> was he waiting for her to crash. >> yes, that is what i think. >> wieth for her to crash and ep was going to jump in, you know -- >> i think that is right i think that is. >> she did a great job on debate, she has success now he says to himself well -- >> he says let's wait for the hearing on thursday, see what happens, and then make a final decision, i think he will. >> there is one person in america can beat hillary rodham clinton you want to know who. >> hillary clinton. >> exactly when have you seen election to your point the legislated candidate biggest opponent is not the field, but herself and law enforcement. >> i think it has to do with sometimes wanting something too much or as athlete you get supertense and you forget to say things that you mean, and she certainly is guilty of that or make mislegitimizes
how you are going to handle things like e-mails comes back to haunt. >> you thanks for insight, uber ceo putting brakes on ipo speculation one big intelligent name urging him to reconsider one ipo happening ferrari to rev engines on wall street this morning we head to new york stock exchange for a sneak peak of the cars lined up do unthere on wall street, keep it right here on the fox business network. ♪ technology empowers us to achieve more.
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its models includes corolla camry 2.7 million affected vehicles are in north america. uber slamming the brakes on initial public offering rumors "the wall street journal" conference chief executive revealing not yet ready to go public, finally dog lovers listen to this story scientists in china are claiming to have produced the world's first genetically engineered dog. the test tube pup expected to have stronger running ability than other dogs of same breed the mad scientists say the primary goal to research medical applicants for human diseases and you canfying out what that means other groups could take, advantage of this commercializing pets as one of the possibilities in all of this, by the way, made a beagle if you are curiosity what type of dog they made, almost double the muscle. >> nothing to do with fast food want to make sure?
>> there are so many wrong ways this could go. >> i am -- >> i don't like what is your take i don't like it. >> i don't recognize ittet, only one -- just saying. >> thank you -- >> my -- >> i mean, really, would you -- >> [laughter] >> nothing better than the inperfection why name anabella came from my bus and i picked her up listening to ella legitimacy fertilized name ella bella jazz. >> ella bella jazz. >> there you go. >> you guys -- >> i am kind of an asca type gallon want o go to a shelter adopt would i be supportive of that i know a lot of people feel specific breeds of dogs, and cats as well.
somebody in this billed has 2000 dollar cat you can proceed cats as we-- you can breed cats as well as dogs genetically make yes your dog the thinking dogs good for hunting for military. and -- >> that much stronger. >> that much stronger isn't going away. >> anthony -- >> artificial intelligence and the manufacturing of genetics got to be worried. >> thank you. >> you bet we will think about that coming up bad news for elon musk a leader consumer watchdogs pulled endorsement of the model s, what that means for tesla's future back in a moment. ♪ ♪ keeps on turning,
. . . maria: welcome back, shares sell-off from yesterday after consumer reports reliability raised concerns about the company model s, spar jo ling kent with the story. >> tesla stock tanked yesterday after reports it no longer can recommend the model sedan because it has quote too many problems, car received a worst than average score in consumer reports 2015 auto reliability survey magazine said main problems all over the car, drive train power equipment charging equipment tablet centered consul looks like a giant ipad also squeaking, rattling and leaks, although issues are covered by the four year bump bump warranty it has provided glowing reviewers of the model
civility, in the past telling new york times proactively addresses issues through over the air software updates strives to make owning the car painless, stock changed yesterday as much as 11% in midday trading, closed down by about 6.6% this is not bodeing well for suv coming to market trying to lower the price 130 grand, wow. >> have did we ask how they stop leaking with software updates that is something would i like to know if it car is leektsdz aking it is leaking. >> investors owners everything, and seems unwilling to overlook the small stuff sailing elon let's go get this car completely powered so worth all this money, 5 grand 100 grand for this car. >> that is the thing at that price you've got really high standards in terms of these of what you are looking for you know, any issues. >> competition lots of competition.
>> complicated vehicle some pointed out a lot of engineering, and technology that goes into it so it is may be harder to maintain. >> i don't think anybody big that car is taking that as an skews a mess sounds like a mess. >> you have to situation expecting a cheaper car by 2017 all adds up. >> got to do. >> americans look to go consumer reports rely on it. >> coming up former aig ceo hank greenberg attorney david boys join me on latest on the lawsuit talk business day ferrari heads to wrote a what can we expect from automakers debut a ton of cars lined up outside the incorrigible incorrigible we will take there "mornings with maria" on the fox business network.
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taken over goldman sachs morgan stanley under pressure and we had to go i remember taking -- secretary paulson went to caulk to going on aig explained to them what we were going to do, and we were basically told well congress is not supporting this this is your choice, this is your decision, you are responsibility, and it was very, very tough. maria: and he held the bag for them former federal reserve chairman ben bernanke telling me about tuftest time as headed of the bank in 2007 in book fighting words for aig executives are joining me fox business network exclusive are former aig chairman ceo hank greenberg, and chairman david boies, bernanke there talking about 2008, from your standpoint, hank one of the biggest stories of the finance minister crisis, is how the government acquired aig and charging the company 14% interest rates. >> yeah. >> tell us about that.
>> it was outrageous i was out of the company then. maria: right. >> out ragous to, overreach the way they did. that the only do they charge 14 and one half% interest but acquired 79.9% of the equity, that is where we challenged subsequently, because there was simply wrong it was against all all the rules. maria: are and i challenged it david, and you won, the judge agreed with you that yes this was government overreaching you didn't get any damages for the tens of thousands of shareholders that hank green beg wberg was representing. >> congress passed this law allows looseness during the great depression 1930s, and it was designed to help companies and individuals who were in trouble because of financial crisis, and what congress said you can charge an interest rate that sets -- with a view
xardz towards coming congress and business you can't confiscate the equity that was beyond power given in any democratically enacted legislation. >> ben bernanke was pushed back you are appealing this decision correct. >> we are appealing -- what we are appealing is lack of damages. maria: right. >> we agree with principal the most important. >> of course, you agree with principles he agreed with you -- >> exactly, exactly. maria: you are appealing no damages. >> exactly what are you look to go get. >> what the government made 24 billion dollars, profit, and we're seeking between 17 and 24 billion dollars. we are not taking back interest rate just seeking back the profit they made can when they so will stock they illegally confiscated. >> ben brnkey would push back i think he did in studio a couple weeks ago said we had no options, we were looking at the lights going out for ge
the company was claepgs collapsing, what with with options. >> nobody said they couldn't give the loan this is not a question of did they have option of giving a loan or not congress had given them power indeed the responsibility to make loans in these circumstances the question is not whether they should have acted to provide liquidity to aig, the question is whether they had right to confiscate the shareholders' equity as part of that that is what this is about, people try to make this into a question about should, they have acted, are we limiting the power of the government to act in a crisis. that isn't at all the issue here, the issue here is simple question of can they confiscate a company equity without any congressional authorization, of course. >>, of course, we all believe no, that is not according to our constitutional. >> exactly, that is the first time 75 years, that the law was in effect that the government took equity in a company. maria: i mean hank you know you've been fighting this fight for a long time. at this point, do you think
that the public sentiment on this is with you? i mean do you think that this idea of government overreach has gotten worse. >> it has gotten worse there is no question, i think the beginning of the case, the pb was not for us. they thought that the government helped bailout aig, and here we are now suing the government. that changed during the trial. when the facts came out, as to what the government did, how they did overreach way beyond any power that they had. >> you had principals basically saying it on -- on in trial, bernanke geithner hank paulson. >> that is right. >> number wuchone of the things they said intentionally maid aig political scapegoat not our wourdz that is secretary paulson's words er and bernanke geithner sent out to make aig a political scapegoat tried to blame everything on aig to escape the blame that
they had, for creating the -- >> it works okay. >> it works. >> plays with upon lupopulous i terms of candidates what hillary clinton is doing, bernie sanders what do you want to say i saw recently you decided to back jeb bush. >>e i can't well i have known him a long time i thought he did a great job as governor. in florida. i think he would be good president has a lot of experience. >> what do you want to say, specifically regarding this, government overreach, big government, and all free stuff has become common place, corners of politics in marker from bernie sanders tell knee what you would like to see from candidacy as it relates to government overreach. >> well, i think they got to put back into focus what the framers of constitution believe they have a lot of wisdom, and it working for many, many years, suddenly
now, we are discarding everything that they believe in, and going to a whole new -- government position, that doesn't make any sense. i mean, this country has been very successful, up until now. and now what we have is a more centralization in the executive branch -- and it changed the changed our country it is very dangerous we are living in a very dangerous world we got to have that balance. >> we don't have it. >> a slippery slope. >> yes. >> once you go down this road this is a really important case for you, david, because this is much bigger than just aig. >> absolutely. >> the shareholders. >> absolutely that hank greenberg is -- >> that is right this really is not about aig not even about bailout, it is about whether the executive branch can self-decide what powers it is going to have, whether its powers, limited government only has powers first the constitution gives it and second, the congress decides
to give it constitution says congress makes the laws, executive branch carries them out. here congress made the law, but the executive branch took upon itself the idea we're going first time in history going to confiscate a company equity they have no right to do that no power to do that the federal judge at the trial ruled they had no power to do that. maria: because we were at a moment in time where the economy was vulnerable, and the public saw their home value declining stock prices -- >> they not yeah they are bad guys and government should get bigger. >> they set out to make aig the bad guy i can't -- say too often when you set out when government sets out to make one of its citizens one of its companies, a political scapegoat there is something one very, very tru interruptibl believe government is part of the solution we need
government, but just because we need government, doesn't mean that the executive branch gets to determine what its power is that is for congress that is democratically elected represents of the people to decide. >> switching gears of about you go hank i want to ask about support for jeb bush the broad economy you attractively all over the world trying to figure out what is going to move the neil on job creation tax reform you think jeb bush has right ideas. >> i think he does i think jeb bush will do a good job, he is balanced. i is not going off half-cocked. he understands this country what makes it go. >> why not resonating you see donald trump in the lead, you see jeb bush pobs numbers going down basically, sort of -- i mean donald trump is setting him up every day, and he is falling into it. >> i talked to him about that. >> yeah? >> very canned ddidly he has to take him on. >> always on defense. >> when he is attacked that
way, he's got to come out of the woodwork i believe he will. >> to go there and use a whole interview to talk about donald trump, rather than talking about what he is going to do, is indicative of where jeb bush's head is at does he than us. >> yes i think he does now. >> i believe that -- i believe that you will see a different jeb bush, in the next debate. and if he doesn't it is going to be his fault. >> a debate fox business network november 10 i will speak with him looking forward to that quick on regulatory environmentalist obamacare dodd-frank epa based on my conversations with managers of businesses are basically stifling the economy right now. >> i think there is a lot of overregulation. i think a lot of regulations that are important to have. i think if we had better regulations, before the financial crisis, we could have gone regulated the financial crisis i think if youn't at artificially low interest rates the government
developed private financial crazy won't have hat severe financial crisis we had i think there is a lot of improvement that can be made, that key part is people talk about regulation of antiregulation that is not the right. >> it is not. >> regulation -- we have too many regulation, and we have too many wrong regulations. >> part of the issue with global economy has been china, is it as weak as everybody paints it to be. >> -- >> i think china is going to be fine, going through some changes, but look, what they have accomplished, in a brief period of time. i mean, here second largest economy in the world. when they get in other consumer part of the economy, cheer working on, it is going to grow like a wede. i have confidence china is going to be fine. >> you do you believe at 6.9% growth people are questioning the numbers. >> but who knows? >> yeah, thank greenberg good to see you as you so much for
than an inch of rain and causing flight delays. as you can see on your screen, a water rescue in the middle of phoenix, by the way, yesterday. remember the new york federal prosecutor who shut down the u.s. on-line poker industry years ago. he now has the sights set on the daily fantasy sports business. they were investigating whether firms like draft kings and fanduel violates federal law. and mcdonald's seeing if a jolt of caffeine can look at monster energy drinks in about 20 of the u.s. restaurants. they're still up more than 10%, the stock is for the year. doing great in the dow. more importantly i've never tried one of the energy drinks and i got one, would anybody like a hit of caffeine. maria: yeah, i'll have some, ye yeah. >> have you ever tried these? >> i just want a sip.
>> what are the calories on this? >> they banned this for kids 18 and under, they've jacked up the heart rate. maria: okay, sold to you. >> they're pretty strong. maria: very sweet, very sweet. >> an egg mcmuffin and an energy drink? i don't know. >> i don't know. maria: more sugar for the kids. >> sugar and caffeine. sandra: is this part of the problem for mcdonald's, the menus are long and the strategy-- >> it's too sweet. >> you think it is. sandra: for me. >> i think it's a home run for them given their target market. >> who owns this, coca-cola. maria: i don't like stuff like that, taking a drink to get
excited and go racing. >> i like it. sandra: it's not horrible tasting. >> we needed something, right the early hours. maria: i'll take the coffee. i'll stick to donuts. thank you. >> you bet. >> you're hurting your friends out there. thinking you're going to bed at midnight. maria: no, i'm not. taking a look back at some of our best moments from today's show. >> and now, you're expecting to get audited. maria: careful, a lot of my buddies, we had dinner last night a couple of my buddies might have been outspoken. we're in a crisis. and people aren't making enough money, and people can't live anymore, the middle class is dying in this countries. >> we're talking to you and introing you and looking at dagen's face. >> you've probably seen it
25,000 times. >> it's the john williams music, it reaches in your soul. >> i love you for saying that. >> and called self-conscious about that. >> we are tea talking about this. >> i think it has to do with my height, dagen. maria: sandra, you're a chicago girl. how could you not root for the cubs. sandra: they could still turn things around. there's still time. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought.
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we have the ferrari ipo today. the long awaited ipo, the ticker symbol race, high end of 62 bucks and sergio marchionne is here. and they put out 9% the company, very limited to get the stock itself. if you can't afford a ferrari, maybe you can get the stock at 52 bucks. i spoke to an analyst and he said that the brand is what this is about. this is not an automobile stock. this is a luxury stock. in fact, they made 40 copy, a limited edition of 40 ferraris, 3 million apiece, and called around to ferrari owners and sold them all in a matter of days and he says that's what this company is about. it's valued at roughly $10 billion, taking the debt from fiat 12 million and we have the la ferrari, a hot one $1.6 million and that's here as well. everybody is lining up and
demand is hot for the new ipo. a-c-is t ticr syol. itinfor at e oping ll. ria:hankso mh. n't rgeto stt yo weekday every moing with nicole, she's on before mornings with maria, giving us the first look at the global markets. and the first conversation, dagen mcdowell, you're a southern girl who loves nascar, your thoughts on the ferrari. dagen: i understand the lure of the ferrari. i have a feeling that people buying in are ones who own a ferrari or would love to or the nuts that own the trossa that has the matching luggage. ferrari is exempt from u.s. fuel economy rules, as long as it sells less than 10,000 cars
a year, they sell 7300 and they want to go to 9,000 cars by 2019, but they will neve be a massive growing company. in china, clearly a problem and here, what's going to make up the seattles, u.s., maybe, but we're not looking so rocketship great guns for now. maria: it's really an expensive car. >> and only thing more expensive is the tesla in the automobile category. dagen: much cheaper on valuation are bmw, even luxury goods companies like caring, which owns gucci much cheaper. sandra: but for someone who loves the drive fast cars, ferrari is in it. they're competitive as far as the collectors who own the cars. dagen: people who love ferraris and-- it's kind of german versus italian, you either are a porsche lover or-- >> most people love italians, dagen. [laughter] maria and i discovered that through our lifetime, most
people love italian. dagen: of course. >> even nascar lovers love italian. dagen: yes, it's extremely popular car and the older models hold their value ap these are record-setting cars. sandra: ferrari is more a car of the formula win. dagen: yes. maria: and we'll tell you where deals are. we'll be right back. buddy- nice place, nice car what happened?
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>> and this ball is drilled to right center field. it is deep, man, alive! daniel murphy has homered for the fifth straight post-season game. >> there you go. the new york mets winning game three of the national league championship last night. big cheers in the studio and now remain just one game away from the world series. the matchup might be onset, check it out. get ready to rumble. [laughter] never give up. >> okay, i have a size 13 head
so i'm getting a headache right now, but i'm very happy wearing this and i'll be at wrigley field and not cheering for your team, sandra. maria: they're still in it. sandra: 2004, they were in the same position. >> a true fan would not worry about a hat head. and i've got someone fixing my hair before i leave. sandra: the flat brim trend has got to-- you bent yours. maria: you're going to the game. >> bringing my brother, one of my best friends, my wife. maria: you're going to get there get to the gamen fellas, we've got to get a suite. sandra: rivalry aside, enjoy wrigley field. maria: it's iconic. sandra: we have the organ there still. >> did you throw a strike there, maria.
maria: i threw a strike at yankee stadium when i threw the first pitch in 2006. wrigley field wasn't as good. and it's a blooper. i was travelling to russia that night and they had raining and put the pad on the field and-- i have the excuses. >> aim at the head of the umpire. maria: what a thrill to throw the pitch out at wrigley field. sandra: i think everybody secretly wants the cubs to win. maria: no, they don't-- >> in 2016, marty mcfly, you missed it for the cubs, it's the mets this year. sandra: they predicted that in "back to the future," the year of the cubs. >> 2016. maria: minutes to the opening bell, pointing to a higher opening when we get back with sandra and anthony. let me ask you this, i want
your final thoughts on you on markets. the whole discussion, passive versus active. >> i think the earnings, maria, have been stronger than expected on the industrial side, boeing and gm, it's hard to listen to their guidance on the calls and press release and think we're going into recession. so, i think that's going to bode well for the markets and put some pressure on the fed going into the first quarter of next year. but in general, i like the market. your large cap stocks are probably going to do well over the next 12 months leading into the election. maria: we'll see about that. what are you looking at. sandra: i'm looking at the top guests, with the billions on the show the past three hours, maria. if you're a long-term investor and concerned about your retirement count, bradley speaking, this is a market that's going to continue to be higher, you don't not want to be in the u.s. stock market. is the political market, regulatory environment going to
change, yes, but historically speaking, anthony, back me up. >> these large companies will have some price moving on their goods and services, if you get that inflation, the bond market is going to get hammered, this is going to be the only haven for investors. maria: what about the global story, we're talking about china and certain things that we can't control. sandra: china is still growing. >> i'm going to give you the silver lining about china. it's growing at a slower pace and much bigger base than ten years ago. so if you look at the old compare sons growth. off the 2007, 8, nine numbers. let's say that number has been artificially upside, maybe 5%, it's still on a bigger base, maria so there's really not super risk in the story, other than geopolitical risk which none of us can forsee. maria: of course. >> that's exogenous shocks to the market and they're
typically short-term. sandra: and also i'm looking at beaten down sectors, energy and-- >> it's been a pleasure. >> get long stocks and the mets. sandra: cubs, come on, turn things around! . maria: before we go i want to thank my executive director, pete frangi. sandra: oh pete. >>. [applause] >> i owe you everything, producing my first show the opening bell and this program seamlessly and we wish you, jill and the kids the best in st. louis. >> love you, you've been fantastic, and i'm going to miss you terribly, but, thank you. maria: go, pete. raising the roof for pete, that's what i'm saying here. [cheers and applause] >> thank you, maria, going to miss you.
maria: that's going to do it, everybody. stuart, over to you. stuart: we will take it, maria. thank you very much. well, a picture tells a thousand words. make that a million. wake up this morning to see a smiling syrian tyrant. welcomed in moscow by vladimir putin. good morning, everyone. that picture tells the story. a sa assad smiles, why not? iranian troops pushed america out of the middle east and assad and putin perfect together and winning. more on that coming up. trump, he's winning. reached a new level of support and an abc news poll shows him at 32%. and then you have those polls believe he would be the strongest leaderment of -- leader. what he had to say about closing mosques made headlines. tesla, chipotle and yahoo! watch it play out on the