tv Countdown to the Closing Bell With Liz Claman FOX Business November 13, 2015 3:00pm-4:01pm EST
from "the wall street journal" taking you into the 9 p.m.. just a tremendous evening all around. i want to point out next week i'm going to have jeb bush on the show. we're going to talk about some policy things with him as well as governor mike huckabee. you know, we talked earlier about how we had to cut some things out of the debate, i had to cut some of my questions for governor huckabee, well, guess what? now i get to ask him. liz, over to you. liz: trish, we've got a nightmare on wall street. it's not just it's friday the 13th. the dow down 189 points, just a few seconds ago we hit the lows of the session. i know, cover your eyes. we are heading back into the weekend, and what we look at is whether we're going to end on track to end the six-week-long rally, but it's also a very unlucky day for the islamic state. the united states playing a key role in the assault on the financial pipeline of the terrorist organization. isis propaganda leader jihadi john only part of it, he was targeted by a u.s. drone.
still not confirmed at this hour, we're waiting on that, but one u.s. official says he's 99% sure they got that beheader-in-chief. and u.s. bombers assisting an assault on the key city of sinjar. why does that matter? well, as the iraqi flag now flies over portions of the city once again, a crucial location at the center of the so-called caliphate breaking in half. a critical supply line that was supporting the black market sale of iraqi oil in syria. former undersecretary of state bob hormats on how much progress we're really make anything the fight against isis -- making in the fight against isis. and donald trump whipping out a new weapon today to be used against dr. ben carson in a new ad, calling him, quote, pathological for claiming he tried to stab a friend x he compared the doctor to child molesters? we're bringing in two congressmen who have fought tough election campaigns of their own. ted cruz's new immigration plan, and of course, this weekend the
democratic debate. congressman john garamendi, congressman lee zeldin, republican from new york, both join us here. jonessing for chicago-style pizza in jeff flock on some late breaking developments about a new tax that may be in place in chicago. it's breaking right now. and move over kanye. the latest internet sensation, fist pump guy and his fox business connection? hmm? we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: it is friday the 13th. [laughter] this is, like, karen black in burnt offerings or something. listen, while it may be a scary day for people who fear friday the 13th, it's a frightful day for the markets as well. we are looking at numbers just
off the lows of the session. what is sending chills up investors' spines? the retail rout. these names can't even see christmas on the horizon, there's so many clouds in their faces right now. names like fossil, down 35%, nordstrom getting crushed, down 16%, jcpenney, which beat on its numbers, down 17%. gamestop down 14%. why? well, perhaps at the heart of it is that october retail sales missed the halloween bump, up a measly one-tenth of a percent when the expectation was a gain of three-tenths of a percent. remember, part of this was the slowdown in auto sales which have been just incredible, so you might expect something like that. the overall markets are getting colored in red. the dow was down more than 200 points, now down 173. nike is a name that's struggling because that would make sense. consumer discretionary, people like to buy these things in advance of the holidays, right now they're getting hurt.
the s&p down about a full percent, so let's head to ashley webster on the floor of the new york stock exchange. i'm sure traders are telling you what's really at heart. why are we selling off? >> reporter: i think they're doing some howling down here as well not just because it's friday the 13th. you talked about a major factor that's casting a shadow over the markets, those retail sales numbers. all comes back to the consumer who continues to stay on the sideline. the belief that they're going to come back into the stores, start spending money again with, you know, gas prices cheaper, the unemployment rate down to 5%, we should be starting to see the economy starting to crank up, and we are just not seeing it. and we're starting to see that weakness and vulnerability in the markets that we saw back in august and september. and, of course, over all of this, what will the fed do? will they raise rates by 25 basis points next month? the belief is still that they will do it, but at the same time, janet yellen just recently started talking about negative
interest rates and even more qe. so more confusion on that end. there is the belief that the fed will, indeed, go ahead and raise rates, but the economic data not looking too good. liz: well, yeah. you have to wonder -- and today once again we heard another fedhead, she's not a voting member, but saying cut it out. stop looking at the markets as your guide, as your compass. we need to start tightening rates. ashley, thank you. just want to mention two names, kss which is cole's, and we -- coal's -- kohl's, and we also have dillards which is down about 8%. tough day for retailers. from money in the markets to cutting off the money line that isis has depended upon so dearly to extend its murderous tentacles, we begin with major developments in the fight to chop off the blood flow of money to the heart of the islamic state. in the past 48 hours, point one: that guy on your screen, a drone strike likely killing him. he's known as this infamous
jihadi john, but he's a coward. he always hid his face. he's an english-speaking voice, kuwaiti-born of isis, very much behind the recruitment arm of this, shown beheading u.s. journalists like james foley, steven satloff and others saying, come, join our wonderful organization. he, apparently, is gone. point two, the u.s. launching no less than 26 airstrikes, dropping crushing woman -- bombs all over isis' oilfields. point three, the u.s. helped kurdish forces crack in half this crucial supply line as they moved into a key iraqi city held by isis, raising the kurdish flag over sinjar today, and what do we have? president obama assuring the american people we are, indeed, this shows making progress against isis. listen. >> i don't think they're gaining strength. what is true is, is that from the start our goal has been, first, to contain, and we have
contained them. >> we are on the right track, and we are making gains, and we are clear about the road ahead. liz: what's next? is this a real foothold versus toe hold? bob hormats here in a fox business exclusive, served as undersecretary of state under hillary clinton. isis has spread like a sickening algae, in part fed by their oil money that they get from the black market. this map, and we can put it up, shows that the city of sinjar, which some americans may never have heard of, you can see how crucial it is. it's right between mosul and iraq where the oil came from and raqqa which is the syrian stronghold for isis. by inserting ourselves there and letting the kurds jump in, what does that do? >> well, it's extremely important, as you point out, because mosul is the second biggest city in iraq. there's a lot of oil in that area. and raqqa is, as you've said, the capital of isis. so they're getting money there, they're moving troops back and
forth, they're moving supplies back and forth. this is going to hurt them quite badly, because the roads there are terrible. this was the best among a lot of poor roads to disrupt this and not have the peshmerga on top of it and guarding that road is very important. and it was using american air force strikes to help support the peshmerga. liz: in fact, i was reading that the peshmerga and the other support areas here, the kurds and the yazidis, they put orange paint on top of their vehicles so that the u.s. air support would know, listen, we are, of course, on your side. so make sure not to -- this appears to be a success, finally. >> absolutely. liz: why didn't we do it before? >> we should have done it before, that is one of the problems. we are also benefited by the fact that we have very skilled special forces of the united states. they're helping these people. but you're right, they got together, and the yazidis -- who had been trounced by the isis people, and many of them were
killed -- they had a special vengeance in their heart to go after them. so they actually played a very key role. but peshmerga's critical because they're good fighters, and they came in numbers, and they were organized, and they're very tough. it was a real combination of american air power, american special forces, the yazidis and the peshmerga. liz: and we saw something that we haven't seen in a while, and that is members of isis deserting the scene. they were running away with, of course, a lot of the isis leaders saying we'll behead you if you desert. who cares? those people are so disgusting and horrifying, i think that we really need to focus on cutting off that money supply. but is this enough? because we're not, certainly, bombing the actual oil infrastructure. is that so that we keep something intact for a rehabilitated iraq or syria later on down the line? >> well, it may not be enough, and they were rerubbing about the -- reluctant to bomb the oil facilities. now we're doing that because we realize isis needs money, this
is their big source of money, and you're going to have to take some collateral damage which is to say the oil refineries and the wells get blown up. we'll have to restore them later. the key is stopping isis, killing as many people as possible to push them back. and as the president says, crush them. liz: of course, the drone strike that has ostensibly killed jihadi john, that horrifying creature of an individual, that is a propaganda win definitely psychologically. it's a huge bump, isn't it, for at least the allied forces? >> it's enormous. and i think that's really what you're going to have to do. i think that -- it's not so much that individuals are killed, although, obviously, the u.s. military went after them, but it's a morale factor that you can go identify people and take them out. very important. liz: you know, in your previous life you were a vice chair at goldman sachs. i'd be remiss if i didn't ask you about these markets. we are seeing a selloff, this is the second day in a row. a lot of confusion about what
the federal reserve might do october -- december 16th. that's the next decision day more rates. >> well, it's hard to make predictions about the fed because you're getting so many different signals. i was at the new york economic club yesterday. bill dudley -- liz: of new york. >> president of the new york fed be, very able guy, former economist at goldman, gave a very positive view on the growth prospects for the american economy and even relatively positive -- liz: well, then raise. >> but he also said at the same time that the inflationary numbers that they expected to see pick up really weren't picking up very much. you still have a lot of slack in the labor force. so i think he came up in sort of the middle of the road, and as many other fed governors have done. so my guess is that they are going to, but only by a slight margin. and their goal is really not so much to focus on markets, it's to focus on the economy. liz: yeah, well -- >> but the fact is when markets get all nervous as they are today, particularly because of
american consumers, then that naturally is something the fed governors are going to take into account. liz: bob hormats, thank you so much. we get a two-fer with you. [laughter] former secretary of state top man and then, of course, the goldman sachs connection. thank you so much. >> thank you. liz: and what do you see here? you see the dow down 180 points. it is a selloff right now, folks. it looks like we will end that six-week-long upside move for stocks. it's been a nice streak while it lasted. closing bell, we're 48 minutes away. are republicans taking a page out of henry vi? well shakespeare once wrote let's kill all the lawyers, but some of the republican presidential candidates put their own twist on that saying during tuesday night's debate on fox business vaporize the irs. that has one former irs commissioner yelling, ridiculous. he is up next. you've got to hear what he says. >> there are more words in the irs code than there are in the bible. and not a one of them is as
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. liz: we've got some breaking news here with the markets as we hit into the closing bell, we're about 44 minutes away from that. look at the s&p 500. at that level of 2026, it was just yesterday early in the morning that i was getting letters and notes from traders saying 2075 is sort of that support level.
hardly. we're now at 2026, so we've plummeted through several floors here, and we're looking at the russell 2000 which got hurt sort of outsized yesterday, bigger hit than everybody else, now down another half a percent. those are the small and mid-cap stocks. the chinese, though, till adore adore -- still adore colonel sanders. kfc has announced same-store sales at all of its restaurants in that region rose about 5% in october, the sock is jumping 3.5% right now -- the stock is jumping 3.5% right now. one big reason, that's right, kfc is booming the fried chicken. now in the u.s. yum is looking to cash in on the delivery craze by testing kfc delivery in the san francisco, los angeles and orange county areas. investors turning off the cameras, action camera maker gopro has hit a new low on wall street as its shares closed
below its ipo price yesterday, and then look at it today, another 8% to the downside. gopro now standing at $21.26 a share. what's going on here? analysts are slightly concerned over whether gopro can keep up with consumers who take most of their photos be videos on their smartphones. look at that little guy. hi. hi. the irs didn't have a podium on the fox business stage at tuesday's republican presidential debate. of course it didn't. but the agency still took a beating at the candidates vowed to put the irs on the chopping block. >> get rid of all the special interest deductions. i'll be able to fire a whole bunch of irs agents once we do that. >> we don't reduce the irs, we get rid of the irs. >> every american pays 10% across the board. this plan eliminates the payroll tax, eliminates the death tax, eliminates the corporate income tax, and it abolishes the irs. >> i want a government really,
really small, so small you can barely see it. liz: ah, playing to the populist message. we all love to hear, right? oh, put the tax man away. but the call to abolish the irs raised more than one eyebrow with mark iverson, former irs commissioner during the bush administration. mark is here in a fox business exclusive. good to see you, mark. >> thanks for having me, liz. liz: yeah. and you were also running for president on the republican side, but you certainly haven't ended the emotion that goes with it. when the candidates said i'm going to shut down the irs, your immediate thought was what? >> it's just happy talk, liz. a couple of key points here. first, it's very important that we address some of the shortfalls we've had in government at the irs, at the v.a. and the secret service. everybody has every right to be disappointed the way that government has been running. but to demonize it is really not healthy, and look at what's
happening with our police across the country. we need to have a certain respect for authority, and we need those revenues to come in. so just saying you're going to abolish something and demonizing the service, it doesn't help. we should have serious conversations about the policy, of course. but making these folks the boogiemen, it doesn't help. liz: well, exactly. and i think that people don't seem to realize that the irs when you take out the sort of feisty, negative profile that a lot of irs agents might have to the actual public, they actually make sure that the information people send in is verified, correct? be i mean, let's just talk basics here, mark. >> well, that's exactly right. there are a host of responsibilities. it's not just income taxes, it's payroll taxes, it's the very complicated corporate taxes, it touches many different things, not to mention the affordable care act which i think was unfortunate that it got intermixed with that. but look, liz, you need to reform the tax code.
i'm all for that. liz: of course. >> there are two problems with what's been going on. the first is the demonization of the government, if you will, which isn't healthy, and secondly is irresponsible tax proposals that come up trillions of dollars short. that doesn't make any sense. we're not being candid with the people. we need to be candid with the people. liz: well, then you have rand paul and mike huckabee talk about a value-added tax, although they don't call it that, they call it a business collection tax or something -- it's got some name, you know? i mean, people are looking at value-added taxes, that's what the europeans do. we know their fiscal situation isn't exactly very healthy over there. but putting that all aside, let's say americans went for that, they went for the flat tax. taxes cannot be collected without tax collectors, is that what you would say? >> i think that's pretty clear. that's -- look, tax collectors are biblical people. people have been complaining about tax collectors for millennia, so that's not going to change. grow need to get -- you need to get the revenues to run the government. liz: okay.
so what is the question you would have if you had a chris christie who said i'll put it on a postcard, again, simplifying the tax code is something that we need. there are thousands and thousands of pages of this, and it is outrageous that the american individual has to deal with that. carly fiorina has said i would only have a tax form that was three pages long. is there anything problematic with that? >> let me make two points here, liz. first, any proposal needs to be revenue-neutral. i worked in the reagan administration, the eight years of the reagan administration. the federal revenues average 17.5%, and that's exactly what they were as a percentage of gdp this last year. so the revenues are about where they've been historically. we can't afford to develop proposals that cut trillions out of the tax base unless we're going to end up like greece, and our debt is going to go even further into the drink. so that's one point. but i favor a tax framework that's been developed by a former bush 41 official -- liz: sure.
>> he's a professor at columbia. he would put in a consumption tax that everybody would pay, so that's easier to force compliance. and then anybody earning 50 or under or a couple earning 100 or under, they wouldn't have to pay income taxes at all. so you'd return the income tax to what it was a century ago just for the higher end, but at lower rates and, frankly, also the corporations would get lower rates. this would be a sensible proposal. it would get at that issue, you'd give the american people something they wouldn't have to deal with the bad old irs, so they get something out of it, the economy would get going again. i think that's a sensible approach. liz: we need rooted in reality approaches, but we need to aim high, higher than we've been aiming. mark, thank you very much, former irs commissioner and former presidential candidate saying when you hear these candidates come on and saying we're getting rid of the irs, it's ridiculous. those are his words. more business and politics monday when maria bartiromo talks to billionaire charles koch who, of course, everybody's
waiting to see who he would endorse. he's a big money guy behind the conservative movement, and he has yet to commit. watch mornings with maria, six a.m. eastern. be sure to connect with us on social media. 41,000 followers on twitter, we're trying to hit 50,000. just go @lizclaman. lots of ways to join us now, and we've not the dow jones -- got the dow jones industrials down 197 points right now. s&p swooning, down 22. you've got to see how these next 36 minutes play out. in the meantime, thinking about chicago for the holidays? watch out. travelers are the latest target of the cash-strapped city. jeff flock is at a -- oh, the drake! identify stayed there. -- i've stayed there. it going to cost me even more? >> reporter: you've been here. you can afford it, at least that's what they think here in chicago. why the famed drake may cost a little bit more after this
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liz: look at oil and, folks, this is the after market price right now. it is $40 and.82 -- 40.82, but anything near 40, this is a fascinating trend. the trend, oil which fell about 8% for the week during the regular session thanks to this growing glut of crude supplies and a forecast for slowdown in demand growth next year. this, by the way, was oil's lowest settlement since august '08. but we are oversupplied three billion barrels right now. don't need to worry about the supply at the moment, at least, but the price continues to go down. i have a question for you, would you like room service with that hotel tax? chicago taking aim at business travelers. the cook county, illinois, board voting on a proposal to raise the county's hotel rate from its current rate by more than 17%. that will make it the highest in
the nation. jeff flock at the drake, that's fancy pants, man, i'll tell you, so i can only imagine what the price means for that, bottom line. >> reporter: you know, liz, i was just listening to your interview. i'll tell you, we really immediate the former irs commissioner to set some folks straight, indeed. yeah. the drake, as you know, it's pricey, but it's going to get a lot more price i. take a look at the rates of major cities, the hotel tax rate. if this proposal goes through, and they're voting as we speak or meeting as we speak, chicago would have the highest of any major city in america, higher than new york, than miami, and already chicago makes a ton of dough from the hotel tax. take a look at the revenues from the hotel tax at major cities across the country right now. in chicago over $100 million a year taken in from tourists and business travelers second only to anaheim, california, that's a place where there is, of course, disneyland.
a little bit of disneyland perhaps thinking because, i'll tell you, business travelers may opt for something else. as we said, the finance committee of the cook county board is meeting as we speak, and we should have that news soon. liz: we're going to break in as soon as we get that, but i can't believe, the hotel industry must hate this. >> reporter: they do, and they have said that quite clearly because, i'll tell ya, business traveler magazines have already been writing up. chicago already has pricey hotels. it's not cheap to stay here already, and then you add this on top of it, it would be about $4 or $5 extra a night, that doesn't sound like much, but -- liz: don't try and hide the pizza place to the right. get me a slice and send me through the camera. >> reporter: coffee here too, there you go. you want your pizza in chicago -- liz: yeah, i like the deep dish.
pepperoni and jalapenos, please, thank you. [laughter] that's my order. closing bell, we're 29 minutes away on this friday the 13th. the knives are out at least in the political arena. donald trump playing jason, attacking ben carson over his childhood temper, even calling dr. carson "pathological." the 2016 campaign taking a turn. have the candidates already forgotten the talk about substance and policy from the record-setting fox business debate? obviously, that's what viewers and voters wanted to hear. we're going to bring this up with john garamendi and lee zeldin, california and new york, both sides of the coast represented. that that's next on "countdown," don't go away. it's more than the cloud.
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>> i tried to stab him in the abdomen. >> what? does it fit with the guy you knew? >> no. ♪ ♪ liz: honestly, in the beginning that looked like msnbc's jail show that they show, the prison thing? that was donald trump's ad. it's an assault on ben carson. came out just four hours ago, turning friday the 13th nightmare into that ad, as you saw, which he just released. and this comes on what happened last night, a nine-minute rant by trump last night in iowa, and most of it was on ben carson, his biggest competitor. he blasted carson's supposed violent past, carson calling -- involving ben carson who had called himself pathological in his book. here's where donald trump went to the point, some say, of no return. you decide. >> if you're a child molester, there's no cure. they can't stop you.
pathological, there's no cure. now, he said he was pathological. liz: okay. a, c comes to b? that's what trump seemed to be saying. trump likening carson to a child molester. has he finally gone overboard? let's bring in two congressmen who have fought tough races themselves. congressman john garamendi, a democrat from california, and congressman lee zeldinen, republican from new york. we can take this one by one, and i'll start with you, congressman zeldin, this kind of thing helpful or unhelpful to get back the republican presidency? >> i don't think it's helpful at all. i think the american public wants to hear a vigorous debate on details of solutions. they want to know what the leadership style is on whoever will be our next president, whoever will be our next commander or in chief. but there are a lot of challenges facing americans right now, and they want details. so any opportunity to grab earned media, hopefully, will be with giving more clarity as to
what a vision is for how to move america in a better direction. liz: and you also have to know your audience and to whom you're speaking. he said to that audience standing behind him -- in iowa, by the way, fort dodge, central community college, very small town -- are iowans really that stupid that they're supporting ben carson? you saw some of their faces fall. you've been in teeny towns in california, you don't really mock them for being farmers, do you? >> you certainly shouldn't. but this is much beyond that. this is a whole new level of attack that's going on, and we have some friends from europe, we were having dinner with them a while back, and they said, whoa, what is happening? is this reality television? be is this really the united states of america choosing its leader? it is out of hand and, frankly, in many ways it's an embarrassment. liz: i'm wondering if the establishment, congressman zeldin, isn't finally getting together behind closed doors and
stepping in because john kasich just landed a whole panoply of endorsements. you've got former u.s. senator ben nighthorse, former u.s. senator be alfonse demat toe, john sununu, gordon humphrey, they're all jumping in now. i'm not sure this means that kasich is the guy, but the firepower's there at least behind legitimate candidates or what some would perceive to be legitimate candidates. >> well, i think what's important to note, though, is there are a lot of different establishment candidates getting a lot of endorsements, so if you fast forward to when the primaries start, people start going to the polls, you know, marco rubio, jeb bush, john kasich, chris kristy. if they're -- chris christie, if they're all whacking up delegates, that creates more of an opportunity for an alternative from the conservative end. now on the flip side of that, if they're able to narrow the field down amongst the establishment,
then if you still have trump, carson, fiorina, cruz and they're all whacking up candidates, that might provide that opportunity for that establishment candidate. so the real question is, what exactly does this field look like when people start heading to the polls? liz: yeah. it's a little clearer on the democratic side, congressman garamendi, tomorrow night we've got a democratic debate on cbs. hillary clinton, when you poll democrats, a huge percentage are behind her. i believe more than 80%. but also people who look favorably, at least on the democratic side, and i believe bernie sanders has about 50 or some odd percent. but then when you talk about the unfavorable part of it, there is a tinge that seems to be surrounding hillary clinton whether it's the e-mail situation or the questions that surround that. what happens with this group of people who are running on the democratic side? >> well, it's becoming increasingly clear that the candidate that i'm supporting, hillary clinton, is really pulling ahead.
she's had a very, very good fall. the first debate be, then the benghazi hearing and then the forto rum that took place a week -- forum that took place a week ago. all of those things are cementing once again in people's mind that this is an exceptional woman who is perfectly aware of what the task of the presidency is all about and prepared to do it in a way that we haven't seen for a long, long time with experience and with capability. and i must say with extraordinary patience. eleven hours of questioning by the benghazi hearing only resulted in her coming out a whole lot stronger. liz: it's going to be a long road here, but we're committed to covering it. we've got steel-belted tires here at fox business, so we'll be along every step of the way. congressman garamendi and congressman zellen, and new york, great to have you together on fox business. thank you. >> thank you, liz. liz: 18 minutes before the closing bell ringings. the dow down 176 points. look at oil, getting closer and
closer to the $40 even level. we'll be watching that. it's been quite an amazing week for fox business, and there is a fox business connection. we're going to explain coming up. and charlie gasparino coming on down to the set to tell us why some think warren buffett, the oracle of omaha, may be losing his midas touch as the world's greatest investor. we want to hear what charlie says. he's breaking it next. ♪ ♪ the future belongs to the fast. and to help you accelerate, we've created a new company... one totally focused on what's next for your business. the true partnership where people,technology and ideas
push everyone forward. accelerating innovation. accelerating transformation. accelerating next. hewlett packard enterprise. jeb bush: leadership means it's not about yappin'.. it's not about talking. it's about doing. i know how to do this because i was privileged to serve in florida for eight years. and we turned the systems upside down that weren't working. 1.3 million new jobs were created. we cut taxes every year. income rose in people's pockets. people were lifted out of poverty. children started to learn. as president of the united states, i pledge to you that i will solve problems. announcer: right to rise usa is responsible for the content of this message.
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ratings as moderator at the debate tuesday with maria and, of course, the wall street journal. on wednesday he helped fox business get the highest ratings ever for our business news coverage. and then last night, oh, look how comfy he is on the late night couch with seth meyers. he talked about what it was like moderating tuesday night's republican presidential debate. here's neil. >> everyone felt like the cnbc debate had gone off the rails. afterwards the candidates certainly seemed happy with the job you did, donald trump called it an elegant debate. >> elegant and my be name have never been together. [laughter] my wife heard that, did i hear that right? did he call you elegant? >> neil could be sitting on the other side of that. liz: he's so funny. the momentum for this network, you and i have been here for years now fighting this battle, right? the momentum continued monday with the second episode of the new season of strange inheritance.
jamie colby talked to a texas man who's inherited an entire civil war fort and his friend who was handed down hundreds of early american firearms. listen. ♪ >> everybody said you cannot do this. you are not qualified to do this. >> what do you say to your beautiful bride? i love you, sweetheart, but i forgot to tell you we're going to rebuild a fort? two strange inheritance stories come together. >> it was almost like a celebrity not conducting interviews. he never let 'em see the whole story. >> he most certainly never shares the combinations to those safes. >> i think that was his, one of his final practical jokes on me -- >> fire! [gunfire] liz: the most valuable thing i have in my basement is a burberry barbie or something. >> you know, i worry about jamie with some of these people -- liz: she can handle it. [laughter] don't miss the episode of strange inheritance, monday, 9 p.m. eastern on the fox business network. oh, yes, and we even take it to
thursday night football, rec ryan and his -- >> why is that good? liz: but the real star wasn't on the field. after the bell, that guy! you see that? that's going viral. >> who is he? >> we're going to introduce you to the latest internet sensation, question fist pump guy and his connection to the fox business network. the top of the hour, "after the bell," you're going to meet him. boy, does he have a good story. and the underbite. i like that. okay, punches have been thrown between activist investor billionaire bill ackman and berkshire hathaway leaders warren buffett and charlie munger over the morality of their respective investments, and this from a guy who wants to be warren buffett. yes. most recently, bill ackman, after saying he wanted to be like buffett, has criticized the oracle of omaha's massive holdings in coca-cola. so does warren buffett have an image problem?
charlie gasparino thinks so. the debate is on, because i think it's ackman who might have an image problem. >> i'm to not going to defend bill ackman here, but i think what's going on with warren buffett right now is after, you know, decades of great investment success, i think what he did in the last, i would say since president obama's become president, has gotten way too political. and now, i mean, i don't think you can with a straight face go out there and advocate higher taxes -- and this is what he's done -- on small businesses and turn around and take most of your, take most of your income in capital gains and get taxed at a lower rate. i think that's underscoring a sort of contempt on wall street for him on all these different issues. i mean, people think he's a pony. when he goes out -- or charlie munger in this case, his number two -- criticizes valeant, which is owned by bill ackman -- bill ackman owns a huge chunk of, and as you know, valeant's under
pressure right now, ackman goes out and says, okay, look at all the garbage that you own, incluing coca-cola which, by the way, cribs to obesity -- contributes to obesity. soda's not exactly a health food. and as much as i have problems with stuff that bill ackman does, he has kind of a point. now say you. liz: oh. i'm just listening to you because this is manager that anybody who's -- something that anybody who's ever covered buffett hears constantly, that his folksy image belies the sharp elbows, but wall street thinks he's a phony? he saved goldman sachs. he gave them -- >> he didn't save them. liz: he gave a lot of companies -- >> how much money did he make out of that? liz: more than 500 billion. >> okay, so he didn't do it -- no, you had the best quote from warren buffett ever. he madsomething hike that? liz: yeah, something like that. >> so that ooh's not really saving, he made a killer of an investment. liz: hey, when no bank will lend
to you and buffett lends -- >> at extortionary rates. so you think he's a good guy. he's okay, right? liz: he's made his investors money. >> you like him personally. liz: very much so. he's pretty much a very interesting guy x anybody who dislikes imhim, if you met him -- >> every time i criticize him, ben stein, you know, the economist who's a contributor to fox, always says what a great guy he is. liz: charlie gasparino, thank you very much. we are coming right back. the dow is now down nearly 200 points. we're in the red, folks, stay tuned. seven minutes left, you can't miss it. just wanted to touch base. we came to manage over $800 billion in assets, through face time when you really need it. it's how edward jones makes sense of investing. ♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes,