tv Mornings With Maria Bartiromo FOX Business February 17, 2016 6:00am-9:01am EST
it is not promotion. it is not marketing. it is hard. maria: more on that straightahead. the battle between privacy and national security. the government ordered an apple to hack into the encrypted iphone up one of the san bernardino attackers. apple is saying not so fast. tim caucus pushing back. he wrote that the companies being asked to build a backdoor to the iphone. the move would have implications far beyond the legal change again. the banking sector in minneapolis federal reserve president neel kashkari. >> i believe the act did not go far enough. the biggest banks are still too big to fail and continue to pose an ongoing large risk to our economy. date from the goldman sachs executive. bernie sanders was delighted by
neel kashkari's news. i'll talk about that when he joins me next hour. we're watching the oil. opec members to convince iran to agree with the production freeze. oil prices up another 2% putting firmness under equities as well. we are expecting another hire opening for broader averages after 220-point rally. dow industrials up 100 this morning. nasdaq higher by 20 points. this morning ppi which measures wholesale inflation. a couple of economic reports likely to set the tone. in europe this morning, markets post strong gains as stocks rise. they are up one point -- the dax and germany up almost 2%. in a shack, concerns about the oil output for its weight on some areas. the shanghai composite in china was up after the regulators much
to support financing for the real economy. the nikkei was down one and one 3%. hong kong also weaker. a new top dog cj. beating three dozen other dogs. >> i was rooting for the german shepherd. maria: more and not coming out. president obama weighing on the political fate of donald trump replayed or an abortion to be seen with the latest this morning. >> president obama continues to believe donald trump will not be his successor. the president was asked yesterday about the republican front-runner and said he feels there will eventually be a reality check. >> i have a lot of faith in the american people and i think they recognize being president is a serious job.
it is not hosting a talk show or reality show. it is not promotion. it is not marketing. it is hard. >> tribe responded last night at a campaign event in south carolina saying he was flattered by the president's dismissals. >> he has done such a lousy job is president. i have to say that actually is a great complement. reporter: a new cnn poll says trump could make it two in a row heading into south carolina. his lead at 38 "fbn:am" 22 over senator ted cruz. marco rubio, jeb bush, the only others. the quinnipiac poll a nationwide, just reading here and the top headline it to the one made nationwide if we were
taken to the numbers and get back coming up at 7:00. maria: blake burman does and ohio. good to see you. thanks for joining us. why did you think a president obama's comments about donald trump inserting himself into the race? >> what is he going to say? then it's a democratic president of president of the united states. donald trump is the leading republican candidate. of course he is going to his chances because he is on the wrong side of the ticket. i think that, you know, it is to be expected. maria: as a sitting president to get that involved to attack the front-runner, he has to not this process is the supporter of hillary clinton with bernie sanders heir. he seems to be beating down my. >> he has to be careful as well.
as we all know, people are feeling the burn and bernie sanders continues to build momentum. as a democrat, president obama has to be careful because the last thing he wants to do a sitting president of the united states and democrat is to come out for someone who may not become the nominee. >> i think donald trump will be building a bunch of tv ads around this presidential -- the president because this is a decision they have to make. do we want not only more of what was done in the last eight years, but even more aggressive government intervention in our lives and like them or not, this is red meat for his supporter. >> the super delegate story is really creating controversy. we are tracking double digits in new hampshire. superdelegates continue to support hillary clinton ahead of
the democratic national convention. when you think about that? the popular vote seems to be with her nape of political insiders sticking with hillary. >> i'm not a super delegate so i'll put that on the table. a lot of times super delegates are elected large donors and unlike republicans, the democratic superdelegates can go whichever way they want. they don't have to go with the momentum and no question hillary clinton is working these folks to try to build yet another firewall. she keeps seeming to lose the firewall and potentially south carolina and nevada and other places she was counting on. now she's got to break the game. frankly it is simple of named individuals that are bernie sanders supporters because the establishment is not listening to them and the establishment is ignoring the democratic process
and it is just i think playing into the hand of the bernie sanders asked to reply on this. >> that is what the word is on the street. it does seem rigged. >> it is rigged. by virtue of the way the system is structured, it is going to be rich. >> senator, why per person, a bronco, version 2.0 to challenge secretary clinton given her weakness as a candidate? >> that's a very good question and a lot of democrats are asking that question. why have we not been able to field a stronger claim like the gop has done with the democratic worker rubio type, for example. there has been such -- we've been resigned to the fact for the last several years and
people went to the sidelines and were not considering a run in 2016. as such we are in the situation with two individuals almost 70 and 74 years old leading which is not necessarily the place that any party in my belief wants to be. we need to be forward thinking, forward-looking and we are in a situation now where we are dealing with two folks that are basically 20th century leaders. maria: could have you on the program. thank you so much. don't miss our live coverage of the south carolina primary and the nevada caucuses at 6:00 a.m. eastern on the fox business network aired at 6:00 p.m., neil cavuto will pick things up and we'll be live from south carolina. a federal judge ordering apple to help the fbi break into an
iphone at launch one of the san bernardino shooters. the justice department has obtained a search word for the phone, but experts have so far been unable to lock the device. apple ceos fired back saying we oppose this order which has implications far beyond the legal case at hand. during the conversation, jo ling kent. there is a fine mind and now we see exactly what tim cook has been talking about that is asking them to pakistan. transfer basically apple is set in their engineers to work with the fbi and went to build a specific program to de-encrypt and get into the phone because apple believed it would create a dangerous precedent. the direct quote is refilling my speak up on what we see as an overreach by the u.s. government. this is a story that will have huge implications and the fact i've been reaching out to lawyers to see if they don't comply what happens next.
what is apple able to do and will they be limited and abilities to sell iphones or anything like that. >> this is a battle for the ages. i've read the whole apple letter and they go into great length saying how this is going to be dangerous. this is government overreach. this could open the door to force apple to build surveillance software to interceptor messages. the right now, apple looks set to go to smartphone for terrorists is but it looks like. apple would have to build -- you can't get into the phone. apple cannot get into it for turning back in 20 for team. you can't get into these phones because of the passcode. if you put too many attempts and come it destroys the data in the phone. however, only prior to 2014 apple could use an extraction tool that you could physically
plugged into a phone and get into the information so they are used to be that possibility until they were wrote the system. now they would have to create a backdoor and a different form of the operating system to date via the im their and the fbi is saying do it and so is the judge. maria: tim cook is famously create the backdoor, then there is a backdoor. and anyone could picture information. dagen: this is where they're trying to appeal to their strong base, especially younger people that opens the door for more government intervention. it is not just risking the phone. i will say this, rather than asking for legislative action for congress, fbi is proposing to use this from 1789. he's challenging the government
saying if you want us to do this you need to pass a law to do it. >> first of all, i think he had no choice to do that. he's fully looking to comply with the government they wanted to be on record that he is antigovernment because it's cold for the younger people to feel they are antigovernment. at the end of the day he is complying and it is sort of a wink, wink mr. government this is what we are going to do. >> you also cannot forget the business implications of the deal. google provides ensures information. use their product for free and give up data and it is accessible. apple has always prided itself on privacy and keeping information in the ecosystem. you pay a premium for the product. there is a serious business implication regardless of what happens. dagen: as they do agree to government, customers will say
wait a second, now i know my information is that safe. what am i paying for. >> i wonder what justice scalia would say. dagen: the 1789 all rights act. in this it seems like it isn't very explicit. and this letter, tim cook acts like they will fight it in the core. oppose the new yorkers not something we take lightly. maria: on the other hand, should we take this back to the initial writing of the law given the fact so much has changed in the world and in the system? >> this is exactly what the debate is going, maria. at the end of the day, the government will ultimately get what it wants. dagen: two years ago apple could've done this. now you can't. it begs the question why couldn't help the fbi get into it.
>> they have to take a tough stance because they realize the deal is unfair for them. if you look at the rest of the numbers, since the iranian sanctions have gone online, and they've increase production by 4 million barrels and every me and say wait a second up increase production levels here, we'll still be behind the curve. that is why iran is a special case and opec realizes it. that is what the meeting is all about. how will they bring iran into the deal but still above them to increase production. i would imagine that would give a cap that says you can produce this much oil but she can't go over the level. that is going to be an wait and see if iran will go for the deal. >> thank you so much. tensions in the south china sea. cheryl casone with the details. good morning to you. >> good morning, maria. an advanced surface to air missile system to the south china sea according to civilian satellite imagery by fox news.
this comes as president obama wrapped up in many of the 10 that have been in rancho mirage, california. meanwhile, donald trump rallied in south carolina tuesday and it was interrupted by a fan onstage. roll the tape. >> it was a little ac. i don't know. donald trump the best guys so far. >> they can do to make this stuff. the final story for you, maria. "the new york times" to pardon in the early stages of the above administration, the united states has developed a cyberattack planned on iran in case the diplomatic effort failed and led to a military conflict. the plan was code-named nitro susana aimed at the electrical
grid and communications services. it will be the subject of an upcoming documentary. that document would be big news coming up. maria: thank you so much. i had at the opening bell, take a look with the dow industrials to open up an hundred points. will sit down as ceo mark giusto coming up. you share his predictions on the biggest prize yet to come in 2016. find out how he is allocating capital next. we will be back in a minute.
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quarter earnings season shaping up to be the worst since 2009. the next guest at the major economies to slip into recession this year. capital management ceo and investment marquee giusto. >> they are bouncing in and out all over the place. maria: do you think the earnings story down 4% year-over-year and the last quarter is the driving factor pressuring the market or how do you see it? >> earnings clearly matter a lot. there is never been a time of year over year forward earnings have declined or haven't had a recession. it doesn't mean it can't happen. it hasn't happened before. the manufacturing index is contractionary. pmi dropped 12 of the last 13 months. a big negative sign. economic growth slows, profit growth slows, there is the threat arising. she's not going to raise rates any more.
the mac wouldn't we know more? >> we will see what happens. that is a surprise. everyone thinks she's going to do it, so the definition of surprise is something people are acting. maria: out of the markets react in that scenario? >> the markets told us in september that they don't like that because they think things are worse than we think. >> talking about a bazooka, where is the next thing they could use to devalue the end? >> what we said was he likes to surprise people. before the end of the fiscal year he would expand huge you read. we didn't think it was pointed at himself and shoot himself in the face. negative interest rates. going back to expanding cube qed
and buying more bonds and more ecs. although the problem is they on half of them already. if they don't weaken the end, three pillars start. >> what about immigration forum for japan? this is the main reason you have the deflation situation. >> there's a million people in japan that are non-japanese. we are talking about that, demographics and deflation. none of that will change in japan did japan is all play about asia. that is for other people are. they are putting it in asia in taking japanese capital and the banks and lending night to asia. they are saying come on ,-com,-com ma guys. you are under level.
blood money. dagen: you sound like japan where you have an aging demographic. i was talking about limiting immigration. deflation. >> just about everybody here is an endocrine of some sort. the whole immigration thing. i got your way before everyone else. by time and the grants came in 1100 a.d. maria: the relentless bear burkett in commodities comes to a head with the bankruptcy of one commodity trading company or more. the veto in the above group, you think one of those guys as they are. >> lots of rumors about this. when i presented the first time in florida, i got an e-mail the next day. i didn't say you were going bankrupt. i said a few days, the big rumor is credit sweeps over
$100 billion of exposure and that would be a problem. if you look at the banks in europe, they are telling us something is wrong. they are down 40, 50, the problem is all of these trading companies use commodities as collateral to borrow and lend against. good to see you. maria: a federal judge to further assist in the investigation into the san bernardino terror attacks. why is the technology giant pushing back? that is next. thank you, we'll c. evening, film noir, smoke, atmosphere... bob... you're a young farmhand and e*trade is your cow. milk it. e*trade is all about seizing opportunity.
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and nevada primary, donald trump holding on to his commanding lead on the republican side, 39%. undemocratic cited that he, hillary clinton and ricky sanders is a statistical tie within the margin of error right now for the democratic nomination. president obama attacking questions on the 2016 race yesterday afternoon on his plan to nominate a replacement factor the unexpected death of antonin scalia. >> the constitution is pretty clear about what is supposed to happen now. when there's a vacancy on the supreme court, the president of the united states is to nominate someone. the senate is to consider that nomination. >> new developments in the battle between privacy and national security the government ordering apple to hack into the increased iphone of one of the san bernardino attackers.
apple is a and not so fastness yield tim clark run that the company is being asked to, quote, build the iphone and the move would have implications beyond the legal case at hand. markets watching oil and looking higher, oil prices are 2.4%, of remembers to convince iran to agree to production increase. prices at $29.68 a barrel. that moving firm is under equities under a 220 dec rally yesterday. dow jones industrial average up 100 points today, nasdaq and s&p 500 former. housing starts and inflation, could set the tone for markets and america has a new top dog, this 3-year-old german surely haired pointer won best show at the westminster had kennel club beating 3,000 other dogs. the federal reserve's newest
regional president raising eyebrows on wall street saying the dodd-frank act did not go far enough. listen to this. >> i believe the act did not go far enough. i believe the biggest banks are still too big to fail land continue to pose an ongoing risk to the economy. maria: my next guest is former top aide to barney frank who co-authored dodd-frank etna heads the can in the financial association of america which represents smaller lenders. thanks for joining us. did dodd-frank go far enough? >> it is hard to say because we are not far enough along but i am dubious about pricing of the big banks. if you go back and look at nafta and beyond, you see a growth in banking that resembles what is happening internationally and therefore before we go breaking up the banks which would be a onetime act, not like we could reverse it, better look at the causes for the growth of the large banks and that research has yet to be done in many ways.
he is summoning us to look at the consequences of 2008. we would be better off going back further than that and assessing why these banks grew the way they did. maria: when you look at america today, weather is a large business or small business companies need in the case is complex financing sell a large bank is the only institution out there to be able to help with certain lending for america's largest companies. >> the world changed in the 90s in terms of trade and we are committed to it and that brings a number of issues that we did not face 20 years ago. many of them -- you have to remember we are in fact we have less large banks in the top-10 than we did a while ago so i think the dramatic step here, not the first step that should be taken and beyond that there is the question whether it really serves the interests of the united states to be doing that. >> give the head up to janet
yellen before he makes a speech like that. what does she think about that? is it a good idea? >> i am dubious that she thinks that. personal opinion, but my guess is most economists are for interim steps before we reached the point you are talking about breaking up the big banks. as with so many other things the unforeseen consequences of taking that action could be dramatic. maria: what about that? >> i am not sure you could go that far. maria: what is so reasonable? if you are going to look at this as the one time thing you need to go back to the 90s to assess what the banks are as big as they are? reasonable but how many people who are elected officials in this country understand the banking system? >> less than we would like and if it is reasonable it might have a hard time getting there. dagen: doesn't win votes.
and as to be unreasonable. >> populism and policy are now in the same equations. how do we get that out of the equation and focus on what is right versus what is left and right? >> realistically i don't think that is going to happen until after we have gone through this election cycle because we are seeing a wave of populism we have not seen in a presidential year in a long time if ever but you are right. it begins with a better attempt to educate people as to underlying economic principles and that is a long-term solution obviously but absolutely right, the policy and populism are on collision course right now and it is in our best interests to averred that collision. maria: i don't think jpmorgan would have been able to bailout the government and america back in 2008 by acquiring big stearns and all that it was able to acquire if it wasn't really big.
>> i would agree with that. you have to recognize there is a particularly public function to banking and in general and it is in not very different category than just corporations listed on the stock market and so forth. all of that being true, you want to be careful in regulating them, certainly starting with the proposition that we ought to break up the banks is not where the beginning step is. maria: thanks for your insights. at 7:30, right here on the fox business network. apple opposing a court order to help the fbi access thought i found of one of the san bernardino shooters. jo lin kent with the latest. jo lin: apple's ceo tim cook saying this morning the company will fight a court order that will force iphonemaker to build a master key for the fbi to access data on an incorrect
iphone owned by one of the san bernardino up shooters, syed farook. in the wrong hands this software which does not exist today would have the potential to unlock any iphone in someone's physical possession. kluck and we must speak up in the face of what we see as overreach by the u.s. government. the court wants apple to help the fbi get around the pass codes to access data on the iphone 5 to find out where the couple went before the shooting, who they talk to and their connection to terrorist groups. syed farook and his wife tashfeen malik killed 14 people before dying in a shootout with police in december. maria: he made a perfect and the right point when you said basically tim cook is partly show, has the pushback. he gets lawsuits, and got my information is safe. >> it is an anti-government, pro
ed snowden culture. for all those reasons it was a good pr situation, and -- >> it is posturing. maybe it is a lot of posturing here because he has nothing to lose by doing this. you will comply with the government but the left-leaning flank. dagen: he has a lot to lose. i think he has a lot to lose even with the response on twitter, people don't understand why apple is not stepping up to help fight terrorism. once you have a back door you have a back door. you had one before 2014 and now they changed the phone and saying we are not going to help the fbi. >> if this drags on you are going to be right and he will lose a big portion of the population but my prediction is team made his statement, it won't drag on and people will recognize that apple will be
working -- maria: the other deck is what you said earlier. do we want terrorists to know what the goal to phone is for private communication? make sure to go to the go to phone. dagen: and tim cook goes across a bridge in this letter. i encourage everybody to read it. if they do this, it apple does this for the fbi event it opens, the government extend breach of privacy and demand apple builds surveillance software to intercept a messages, healthcare records, financial data, come on. maria: next paul ryan making a major admission to me exclusively about the republican agenda in congress which will have serious implications in the republican primary. bake in a minute. i think it landed last tuesday.
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maria: cheese alert, cheryl casone and and and other headlines. cheryl: sounds like i'm joking but i am not. this really is serious. parmesan cheese your sprinkler on your house the could contain would. parmesan sold at walmart, and could contain iron levels of cellulose which is the additive made of wood pulp. small cars on i 70 in western
colorado, the department of transportation shutting down traffic in both directions and forcing drivers into a 146 miles detours, 146 miles on this route for up to a month. closed interstate will reopen tomorrow at the earliest. this, uber agassi ito saying the company loses $1 billion a year in china do to competitors that are buying up market shares. he did stress uber is profitable in the u.s. into a china. >> paul ryan making a big admission on immigration reform. pope francis getting testy with a crowd in mexico which two hands-on pulling the pontiff into the crowd. the pope was unharmed but school onlookers for being selfish.
maria: immigration policy is a major issue in the 2016 presidential election and the halls of congress. paul ryan explaining on sunday that immigration reform will not be part of the house agenda, outside of securing the country's borders. >> we won't put immigration reform others then securing the border on the national security agenda. we think a key component is securing the border and that will be a component of that but what you are asking is different from that. i always supported moving from what people call a chain
migration system to an economic immigration system and that is not what we have. most countries choose how to give their visas based on what the economy needs. if there is work that is not being done, that is not what we do and we should change the immigration policy. maria: you have been vocal in terms of the pact is citizenship, and this is one of the central fundamental issues of the country. and to live in this country, work in this country and participate in that democracy so given the pushback from the voters and even from the candidates in terms of green cards issues, would you put a number of caps on green cards issues? >> we have a debate where that is said and what green cards we are giving out. and we give green cards based on who you are related to or based on what you contribute to the american economy. i would argue we should give
more green cards based on what you contribute to the economy. maria: is this issue central to that to because americans don't have the jobs they need to have partly because you have foreigners coming in taking their jobs so that is the central issue i am asking, do we want to keep open borders the way we have or do we want to have some level of cats? would you propose legislation that lowers the number of green cards issued? >> i won't get into what capps, we should have a cap on green cards of course and change the way we give green cards so the we economic visas. congress should work its will wear those caps should be adjusted and set but we should have a cap but none of this work if we don't have a secure border. that is what part of our five point agenda is national security, building the military, securing the border. and get people in this country
from welfare to work is really important. maria: the publisher of the federalist, good to see you, thanks for joining us. immigration one of the most important issues of the republican field. how will this play out and what is your take on this? >> this is a situation where republican leadership and the base of support we have seen for a lot of the candidates in this primary, have been at odds. and about 1/4 to 1/3 of the country when it comes to these issues so that is why you are seeing the success of donald trump, the success of bernie sanders whose policy on immigration is closer to trump than people think, and it is a factor in american politics for a long time. this time this cycle we're seeing it played out in the form of candidates taking the stand against what the elites and both parties are for. maria: this is the dividing issue because the fact is when
you look at some of the terrorists, the boston bombers, tashfeen malik, the son of immigrants, they came to this country on legalized immigration. they were given visas ats. dagen: i wanted to ask you this. what do you think this leads to in terms of greater controls over immigration? when somebody says on the campaign trail and what they do if they get elected to the highest office in the land are two different things and we don't have a congress that has moved on immigration reform and despite what president obama is trying to do the high court after the death of antonin scalia are expected to rule on this. >> one of the things we are going to see, i would never predict what president trump will actually do and immigration as opposed to what he is promising now. whenever you are dealing with someone whose primary function is negotiation, you can never take what stance they have
currently as anything they would actually do in office. what we are going to see an immigration going forward to deal with this problem, if you think about it as much as we talk about a border the real issue is these fees that overstateds that have been a significant u.s. have more to do with immigration from china and asia than it does with the kind of situation we see on the southern border. this will be an issue particularly given the level of security concerns we have on the border given all these different cartel situations are continuing to bubble up, the level of killings that are only a few hours away, that kind of thing is going to force this issue on the next president regardless which party take the white house. >> is very policy that reconciles the populist fears with what the economy would have light green cards? >> i don't think there's a single silver bullet policy but there are a number of steps you can take on immigration policies
that have nothing to do with the massive question of citizenship or have to legalization. people focus on lot on that but a whole slew of other issues related to security policy and economic needs that could be addressed in congress without having to touch that third rail which makes people so frustrated with the current system. the question is whether congress is going to have the will under the next president to adopt such a policy and that will require a heck of a lot of investment on the part of paul ryan and others to make this policy a priority. maria: interesting to see how divided the party is. next up, minneapolis says -- going to break up the big banks, raising eyebrows on wall street. we are back in a minute.
maria: it is wednesday's andy reid 17, i am maria bartiroma. whitney is dagen mcdowell, wall street week host, an cme executive and chairman terry duffy, good to see you. top stories at 7:00 a.m. on the east coast, where days from the republican primary, and the democratic caucus in nevada. donald trump and hillary clinton firmly in the lead, president obama facing questions on the 2016 race yesterday afternoon, he rammed that the rhetoric, and donald trump will not be president because i have faith in the american people. being president is a serious job.
it is not hosting a talk show or a reality show, it is not promotion, it is not marketing, it is hard. maria: more on this and latest polls straight ahead. the battle between privacy and national security, the government has ordered apple to hack into the encrypted iphone of one of the san bernardino attackers with apple says not so fast, ceo tim cook wrote in a scene in the company is asked to build a back door to the iphone and the move would have implications far beyond the legal case at hand with a warning shot to the banking sector from newly minted minneapolis federal reserve presidents. >> i believe the act did not go far enough. the biggest banks are still too big to fail and pose an ongoing large risk to our economy. maria: it is an unexpected critique from the goldman sachs executive and bernie sanders said he was elated by the news. i will ask about that when he
joins me later this hour. turning to markets, watching oil prices, opec members of been to convince iran to agree to a production freeze. oil prices are $21.71 a barrel, putting a bit under equities. futures ended a higher opening, and the 220 point rally yesterday. down industrials up and up 100, nasdaq and isn't the also, 2/3%. leader begets in the outrage on housing starts in inflation. in europe markets are higher, energy and making stocks leading the way with major averages in your. and the markets are low.
and this shorthaired pointer when besting in show last night. . blake berman in washington to breakdown the results. >> gay a new poll released this morning, a quinnipiac university survey shows 39% of republicans nationwide support the billionaire businessman. that is the eight points in two week and double as you see, marco rubio and ted cruz. president obama was asked yesterday about the republican front runner, he panned from predicting there will eventually be a reality check. >> i have a lot of faith in the american people. i think they recognize that being president is a serious job. it is not hosting a talk show or
reality show. it is not promotion. is not marketing. it is hard. >> trump respond at a campaign event in south carolina saying he was flattered by the president's dismissal. >> he has done such a lousy job as president. for him to say that is actually a great compliment. >> on democratic side look at this. hillary clinton talk to bernie sanders i just two points. i would note that is within the margin of error and is back-to-back national polls showing clinton's lead over sanders has shrunk to a couple of points and cnn has a pullout from nevada showing clinton a just one. back to you. maria: that lead is narrowing, every poll, more and more. blake berman. donald trump and jeb bush on the program yesterday, neither
pulling punches, trump went after ted cruz, jeb saved his harshest commentary for donald trump. >> ted cruz seriously has the mental problem. ted cruz is a liar, as a problem. >> look like donald is trying to use his business tactics of suing everybody to get his way to the political sphere which is not going to work. maria: we enjoyed having jeb bush and donald trump on the show. we bring in south carolina congressman dick multi --mulv e --mulvan --mulvaney. when you look at the south carolina voters going into the primary on saturday, give us your sense of what is most important to them and how this plays out. >> i'm just north of the border but spent a week in south carolina traveling the state meeting with as many candidates as i can because i am an undecided voter. that is the story that is not
getting out, trump is first place and smart money would have him winning saturday but almost everybody i talk to, random people at events 4 ben carson, folks who have not made up their minds, saturday is far from a foregone conclusion, smart money is on from but a lot of votes of not made up their mind. maria: you were endorsing rand paul. les supporting somebody? >> hoping to seek mr. bush today and john kasich, that would cover everybody. i am undecided and my guess is a lot of south carolinian have not made a decision until they walked into the booth on saturday. maria: terry duffy, what do you think in terms of what business wants? >> i think business wants an administration with people who have experience of the country can continue to flourish, it is not either party or the leader but the people the president
brings in to help guide the administration and the country along. but right now when you watch the rhetoric on both sides of the aisle, it is confusing to the congressman's point who you are going to support, on the republicans side it is nothing but a reality show and on the other side, it is mind-boggling that hillary clinton is only two points ahead of bernie sanders, he is a socialist and that is what it is. for this country to go down that attendees so close is mind-boggling. >> who do you think governor healy will endorse it anybody prior to the election on saturday? >> my guess is it is wednesday if i keep track properly, my guess is it is too late for her to endorse anybody. she was going to do it she would have done it by now. she may be undecided herself when people ask who you are going to endorse now that rand is out of the race, it is hard to endorse somebody when you
don't know who you are voting for and nicky's in the same boat as an individual in addition to being governor. >> you didn't mention marco rubio, you didn't talk about him. to me it seems like he is very polished when he is up there on the debate stage, too script or not but he looks presidential for lack of a better term when you look at the people on the debate stage. >> i did have a chance to go to a marco event in south carolina monday, spent 15 minutes talking with him and trey gowdy. he was great. it was old-fashioned retail politics, a group of 400 people, for questions at random from the crowd, did a good job. a lot of these men and women, carley when she was here, a really good old-fashioned politics, marco doing fine, i don't know where it will fall out. if i had to guess, trump in south carolina with a bitter battle for second place between ted cruz and marco rubio.
>> will it come down to mark cohen -- retail politics more commercialized? >> i got six pieces of mail at montel saturday from various candidates. we threw them all away. the ads on tv are to the point there is such a diminishing return a one is paying attention. south carolinian is like thailand new hampshire are going out and want to look people in the eye and see who they decide for themselves is telling the truth and my guess is old-fashioned retail politics will prevail at the end of the day. dagen: president bush 43, beloved in south carolina, did it hurt donald trump ended it didn't why not? him calling the former president a liar and blaming 9/11 on him? >> it didn't hurt donald trump and what you see is south carolina is a bellwether for the rest of the country, one of the reasons we maintained the first in the south primary state, this is no longer the establishment. we stopped being establishment
in 2010. did not vote for mitt romney in 2012, and as beloved as george w. bush is in the state and he really is this state is really leading the country away from the establishment and that is why you are seeing george bush's visit be ineffective. i think mr. bush may finish as low as fifth. that may well be the end of his campaign. maria: what about the antonin scalia situation. what do you want to see a replacement for justice antonin scalia? >> any name i would come up with would not get nominated. the interesting thing is whether the president pick someone so far to the left that he knows won't get confirmed or tries to find somebody who might have bipartisan support. that would be interesting to see politically and jurisprudence perspective, i will be curious to see what the president does, i don't have insight one way or the other and this senate hasn't asked is because they don't care what the house things about
supreme court nominees. maria: do you think there are people out there that the president might nominate, that are good for the job, and the senate is not doing its job by delaying. >> the risk is the bork situation, many decades ago, clearly the most qualified person for the job, but was not able to get confirmed by the senate so the president does face turtles if he tries that. i don't pretend to understand what will happen and anybody who does is probably lying to you. maria: thanks so much. coming up, the federal judge ordering to help the fbi, the water has implications on the legal case at hand. ♪
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maria: chinese military deplane advanced surface-to-air missile system to maria: chinese military deplane advanced surface-to-air missile system to the contest island in the south china sea. cheryl casone with the story. cherface: according to a civili satellite imagery obtained by fox news china as well as taiwan and vietnam are claiming the islanders their territory but this missile strike is the biggest we. this comes as president obama just wrapped up a meeting with ten leaders from southwest -- that was just yesterday. we will follow this story for you. the u.s. purportedly had a plan to launch a major cyberattack on
iran according to the new york times in an upcoming documentary and interviews with missouri officials aimed at crippling iran's anew defense communications system and key parts of its electrical power grid but itbams put on hold after a nuclear deal was reached last year. finally a big story, apple challenging the federal government. ceo tim cook saying his company will fight a government order jack into an encrypted iphone belonging to one of the shooters in the san becheardino califocha ts cor attr this as silicon valley versus washington and we are seeing an e saercurrent of animosity between the two. silicon valley doesn't trust washington, shockingly and washinfuon wanrip access becaus they need to fight the war on terror. is not an easy solution but the fight is big and getting bigger. maria: tim cook does make a good
point. what do you think of this? if you have a back door anybody can isln bs y we have a situation and the cme where our firms are being required to reveal their source codes to commodity futures trading commission, there are hundreds of millions of dollars in the source codes and the wind passed a rule that we went your source code so the world of security in iphones have the same situation we have in our world. maria: as it relates to terrorism -- >> it relates to making sure no one is moving the markets are manipulating the market and suddenly they say you can do it for this but not fat.
dagen: apple is appealing to its customer base saying we are protecting you but it needs to step back and look at the slogan, we got your back, american people, go to hell. >> that is the way i see it. >> you want to be my campaign manager when it is time? dagen: responding to maria on this side of protecting the nation and going with the government. our viewers and followers on twitter -- what is the answer to that? they want to feel safe. dagen: they want to make sure they track down -- >> tim cook made a bad decision putting that letter route for his business? >> a lot bigger than the one i run but i do think this is a different issue than technology and iphones. this is an issue 330 million people in the united states are concerned about an should be concerned about because of what
is going on. i think he made a bad decision by not giving them something. doesn't have to give them everything. pecan give them something. maria: what are terrorists saying? let's talk on our apple phones? this is the go to phone. we won't be forced to have anybody follow us. cheryl: talk back and forth. that phone needs to be open. dagen: apple is daring congress to legislate this. >> will take him off the hook with people trying to recruit apple. >> last time we saw this microsoft on the government and didn't do very well. maria: this is a big issue. up next roger goodell raking in record money but will the recent nfl mishaps put a damper on his future projects? we're details in sports and newly minted minneapolis federal reserve president will join us with his plan to shake up the big banks.
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during 2014. it was his most challenging season and nine years as nfl commissioner but he came under fire for his handling of domestic abuse cases, child abuse with adrian peterson, he walked away with a salary few could comprehend. still, the figure is well in line with major ceos. in 2014 the nfl generated $11 billion, roger goodell got $34 million. cbs receive $57 million, there was revenue of $13.8 billion. yahoo!'s marissa meyer earned $42 million the same year, that is a million dollars more than roger goodell but yahoo generated less than half of the revenue. the nfl was qualified as a 50 one c 6 nonprofit. that is how we know salary figures but going forward it won't be the case. roger goodell said the nfl give up its tax-exempt status, $34 million seems unfathomable but when we consider the effect of the nfl and the united states
and globally the number seems fair, no? no? come on. maria: based on what the nfl makes in terms of profits and revenue, sure. >> i would say when you look at the nfl my understanding is from the first snap of the first play of the rest is gravy. they make money from there on in. there are 16 games, eight home games. anytime you have that kind of demand for a profit will make a lot of money. >> didn't will smith's a home today of the week? they own the day of the week, now they own thursday night. monday night. i don't know. i am a free-market person. nfl owners give him this salary, god bless them. maria: i see free market. >> where we all shop, a story we can relate to, how about last night. the winner crowned in the westminster kennel club in new
york city at the dog show, a 3-year-old german shorthaired pointer won best in show at the westminster kennel club to be al 2700 entries on the one 99 breeds. doesn't get excited to see these dogs and think of their other pets, we believe my guy could be there. dagen: mind cannot. they are both rescues. maria: there it is. >> just passed away. we got new ones. we got photos of the new guys. dagen: look how cute. you rescued gad's the. there are 9,000 adoptable dogs and cats euthanize everyday and. if you are going to get a dog or cat go rescue one. you can have a purebred but rescue one too. >> i was a dog in my last life.
lucky enough to have -- one of you guys. maria: they are cousins by the way. you have two dogs. >> i of two italian greyhounds. they are fast and good dogs. maria: one federal reserve president may be feeling the burn saying we should break a big banks and given back to the people, back in a minute. i think it landed last tuesday. one second it's there. then, woosh, it's gone. i swear i saw it swallow seven people. seven. i just wish one of those people could have been mrs. johnson.
implications. toil prices are higher because the equities. today, the dow is expected to open up at 100 points. we will get readings on how things start and tin tphraeugs out at 8:30 eastern this morning. the first global oil deal until 15 years. it could be decided today as opec members travel toll ran. we already signal that it plans to take a tough stance on the deal. this is the first time in to long, iran gets its oil on the the market now they are asking to freeze it. >> it was just today that they were sending this first shipment to europe. they are saying wait a minute, it's not fair when the rest of the opec cartel have raised production by over 4 million
barrels a day. maybe they are going to come up with some type of after compromise that will allow iran increase production to a certain level and make it more fair while other countries like iraq agree to freeze production it's the first step towards the production cut but they have to get through this hurd the to freeze first. >> today marks the 7th year anniversary of president obama sign the second stimulus bill into law. one of the men who led the first made comments. >> although two banks were not the sole cause of the recession there's no question that they are at the center contributed to the nag any tuesday of the crisis and the damage it has inflicted across the economy. now is the right time for congress to consider going further with bold solutions to
solve this problem once and for all. i believe the act did not far enough. i believe the biggest banks are still too big to fail and continue to pose a large risk to our economy. >> democratic presidential candidate bernie sanders said he is delighted with this comments. good to see you, sir. >> good to see you. >> this created a lot of conversation and debate online. what specifically would you like to see congress do when you u say we want them to go further? >> there are a number of solutions out there. everything from breaking up the banks to putting so much capital in them to taxes level leverage across the system. i think they took the transformational solutions off the table.
here we have seven years later and i'm saying the biggest banks are still too big to fail. we need to take action and we will bring experts together from around the country and the put all the the options on the table and give kopgs a chance to weigh in and hopefully go further. >> let me take you to the dark days in 2007, here we are in a situation where strong banks needed an enormous amount of capital like a morgan stanley. you have jp morgan, strong, powerful, big bank, too big to fail, jp morgan was able to the acquire bear sterns, washington mutual, basically it bailed out the government. is that a misstatement? >> i think that's a misstatement. some of the bigback banks said we were so strong we didn't need it. some of the banks were begging for help.
>> not jp morgan. >> if they had gone in to bankruptcy how would jp morgan be doing? >> the federal government and the taxpayer stepped in. we were always so strong but if all this counter parties were in bankruptcy. the only reason wall street survived is because the american stepped in. let's be honest with the american people we have not addressed all the the risks. the banks are stronger today than they were 8 years ago. they have more capital and t but have we taken the risk off the table? no. >> what about the large companies of the ibms of the world thapl need financing that only a large bank can deal with and that's what jamie diamond would push back out. he said we will not break up this bank because the country needs a large bank in order to the give solutions to some of these companies.
>> i don't find that purr swaeusive. big businesses do business in countries all around the world. you are telling me they can't manage a few more dozen banking relationships. we have 7,000 or 8,000 banks in america nape will fill some of the voids that need to be created. >> let me push back on another idea here. some of the asian banks today are among the biggest banks in the world. you have an hsbc, how sit possible that if you break up the banks in the u.s. they will not. at andice advantage to some of the asian banks right now that are bigger than the u.s. banks? doesn't all the the business go there? >> we have to focus on what we can control. i wish we could control everything around world, we can't. we are the united states we should start doing what's right for our country, our citizen, our economy and maybe we can get other countrys to follow.
if other countries want to take extreme risks with their financial systems that the's up to them. maybe we can thread world in a safer direction. >> he worked with barney frank, he said did neil check with janet yellen before he made the statement? >> the structure is the regional banks are independent of the board of governors. the idea that congress had a hundred years ago are the diversity of opinions. i am looking forward to get the opinion across the system. >> some people think she's not on the the same page with you. >> she sealed we made congress which i agree with but it's too soon to declare victory which i also agree with. i look forward to getting her feedback and working with her. >> what a fascinating position you have. how has your life changed? >> it's great. the minneapolis federal have
every bank is a terrific institution, a thousand employees a long history of leadership on addressing expertise. we have a great research department so it aos great environment. very spweg hrebg wally curious focused on issue. >> a major investor, he said any interest rate hike is off the table from the federal have every. is that correct? you hear us say that all over again and it's true. >> earnings are down 4% year over year when you look at the most recent quarter. >> we have a full t mandate. it's price and maximum employment. we will keep driving job creation and keep generating a lot of jobs and bring people back in to labor force nap will be a good thing for our country and hopefully we can get
inflation back up for our 2% target. we will watch the data and make the right call snap what did you think of bernie sanders being delighted about your comments. >> they we are not a non-political agency. i will threat pass. >> so you are not feeling the bern? >> i am watching thr*ebgs with great interest as all americans are and look forward seeing who the next president is. >> but you did run as a republican when you ran for president -- >> for governor. >> my political history is well known and that is what it is. >> anybody out there have your sense eublts? not that you are ru sorting it in terms of too big to fail in terms of where the economy right now? >> i think there are people on both sides of the aisle. i think we have to address the too big to fail issue. through this issue that we are launching through minneapolis that we can bring people together from both sides of the
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kwoepl back. republican presidential candidate jeb bush back after tweeting a picture of a gun. >> a lot of attention. jeb bush trying to fire up the struggling campaign tweeting this picture of a pistol. the guns that been engraveed with bush's name and the tweet has the single word caption, "america." also pope francis caught on camera many mexico losing his temper at a well-wisher who yanked his arm so hard that he stumbled over. he said several seconds with his chest press as some things happening there. donald trump rallies in south carolina tuesday and was interrupted bay big fan on the
stage. >> i'll tell you what, what you first have to do is -- i ain't going to lie. i don't know, donald trump is the best we got so far. >> the guy just jumped on the the stage. he was at the rally and just loveed the donald trump and had to get in front of the microphone and let tefr body know and back to you. >> thank you so much. with that, apple posing a court order this morning to help the fbi access the iphone of one of the san bernadino shooters. joe is here with more on that. >> reporter: good morning. apple ceo said the company this fight a court order that will force the iphone maker to build a master key on the e crypted 5c owned by one of the san bernadino shooters. he said in the wrong hands this soft ware would have the
potential to unlock t*eu phone in anyone's physical possession. we feel we must speak up in the face we see is an over reach by the u.s. government. the court wants apple to help the fbi get around the pass code to access the data on the phone to find out where the couple was before the shooting, who they talked taopbd any connection to terrorists groups. so what we have here is a major battle between the world's most valuable government and the u.s. government. >> they have to fight back. the point that you made earlier, if tim cook doesn't come out and say these are my customers and i am not going to let the government. >> on them then he would be upset. >> i agree with the government and he should side with the government and i understand the strategy because i have a son working for google. he has to recruit these engineers, recruit people from all over world so this message is good pr for them in the short-term.
>> it's all about their product in the end because they do tell tefr one who buys an iphone and ipad that your stuff is locked up and safe because you are paying a premium because google is free. >> so they are telling terrorist this is the phone for you. >> i think daegan is right. >> he will have to side with the government. >> after the san bernadino killers, remember mark zuckerberg said we are going to make sure to protect everyone's information. that was the first thing that mark zucker berg wanted to be tweet out about protecting everybody's information. we just had 14 murders. >> the tragedy in san bernadino to protect your information, every bank, every exchange, the pentagon, everybody has been hacked. why is apple in this security so much better than the the united states government and everybody
elses. everybody else has already been hacked. i think people are getting into these the iphones. >> they used to be able to get into them. >> how dow know further that they are still not getting in because they will not tell us tpwhaeus are protecting this clients. >> apple used to be able to access these phones. it only changed about two years a go. it started with the ios8 operating system. they can destein software to let the fbi look at this phone and they are choosing not to and suggesting that the government wants to take it a step further that if apple does this then the government will force them to turn over all the information, your health care information, they are trying to use the scare tactic. >> they are fighting a law firm, a very old office.
they didn't have *eup phones -- iphones then, how are these laws put in place and interpreted in 2016? >> we have been sticking to a law when the entire agency has changed so much. >> it's a fair question. >> they -- alright. the world is going to change and apple is on the the young side of it but they have to be there for their customers. >> so it's pr. >> short break then coming up, oil is higher, opec leaders meeting iran this morning. terry duffy will weigh in. back in a minute. we were born 100 years ago into a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation,
welcome back. the dow jones are now at the highs in the morning after 220 point rally yesterday. one issue we have been watching is with the u.s. economy is headed in to a recession this year. terry duffy is with us today and will talk about the oil. first let's get your take on the the broad economy right here. >> it's hard to know if we are going through a recession, we have been through so many in the years. the years recession scares people because they think of the depression. it wouldn't surprise me if they have a sell-off here. people don't have the money that the government believes they have. they want take their rates down to zero and force people to spend money that they don't have. we -p. we have a $11 trillion-dollars just with the consumer in the united states.
we will push the consumer to spend money when they don't have it. people depend on the energy market kets now it's a supplyish. there's too much supply out there. the exblowers that are -- exployers said they would create money in the the barrel. oil will have a difficult time going up. i argue it was money mental reason why the market while it was there. we have all this will oil that was here and produce 18 million-barrels. so the people in the middle east that want to sell oil can sell and if they can sell something else they have which is nothing. there no question they put pressure on the the market to
come down. this was an easy one to see. that's my take on it. >> so you think the soil from the supply issue from the saudis more than anything else stp. i think markets in the natural price right now. >> only because of the technology we have in this country and the availability in this oil. we turned down the keystone pipeline. >> so it's supply and not necessarily economically related. >> >> it's not a demand issue it's an over supplyish for sure. >> >> too too fail stph-l. >> it's not too big to fail. we act as the seller for rebuyer. we net everything out and on a zero sum game we margin every hour. >> . it mornings with maria is too
big to fail. >> it's opinion great having you this morning. >> >> terry duffty, president at the group. next up the retired general is with us and sam del for the hour next. [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. or building the best houses in town. or becoming the next highly-unlikely dotcom superstar. and us, we'll be right there with you, helping with the questions you need answered to get your brand new business started. we're legalzoom and we've already partnered
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good wednesday morning. welcome back. i'm maria bartiromo. sky bridge capital founder and equity group investment chairman sam del with us this morning. first your top stories at 8:00 tonight east coast. were days away from the republican primary in south carolina and the democratic caucus in nevada. it shows donald trump firmly in the lead. president obama facing questions yesterday afternoon. ramping up his rhetoric against the gop, specifically, donald trump. >> i continue believe that mr. trump will not be president. and the reason is because i have a will the of faith in the american people. and i think they recognize that
being president is a serious job. it's not hosting a talk show or a reality show. it's not promotion. it's not marketing. it's hard. >> new developments in the battle between national security. the government ordering apple to hack in the e crypted iphone. apple says not so fast. ceo tim cook pushed back. he wrote in a statement that the company is being asked to build a back door to the iphone and such a move would have implications far beyond the legal case at hand. >> >> opec members hoping to convince iran to agree to a production freeze. prices are up and have been moving up this morning and putting a bit under equity. futures indicateing a higher opening with the ddow set to open up better than a hundred points.
later this hour we will tkpw-rb we will see what the economic data says for market. america has a new top dog, cj, this 3-year-old german shepherd winning best in show beating 3,000 other dogs. >> that's sandra's smith's dog. she has one. >> not hers specifically. >> blake burrman is in washington, d.c. with the breakdown of the results. >> reporter: good morning. donald trump continues to lack the republican field according to a new poll this morning. a survey shows 39% of republicans nationwide support the billionaire businessman. than is up 8 points in just two weeks. as you can see double marco rubio and ted cruz. >> president obama was asked yesterday about the republican front runner. he panned trump predicting there will be a reality check.
>> i have a lot of faith in the american people. i think they recognize that being president is a serious job. it's not hosting a talk show or a reality show. it's not promotion. it's not marketing. it's hard. >> trump did not sit by idle, last night in south carolina he said he was flattered by the president's dismiss sals. >> he has done such a lousey job as president. for him to say that is a great compliment. >> on the democratic side hillary clinton topped bernie sanders in that poll by just 2 points and than is important here on a couple fronts it' within the margin of error and that is back-to-back national polls showing clinton's lead
over sanders has shrunk to just two points then you have this cnn poll from nevada showing her lead if that point up just one. closing just about everywhere you look. >> wow. that is such an unbelievable number there. thank you very much. joining us is clinton's strategic advisor. >> how worried is hillary clinton is the question? hillary is over in brooklyn. phrase is, brooklyn we have a problem. hillary is going to lose on saturday and that is going to be an issue. she is up 48-47 in nevada. it's a caucus state. we know that the clintons don't know how to caucus. they lost in 2008 in iowa. they barely won in nevada. >> then that set up coin toss. >> she will go in to south carolina having lost again and what happened last time is going
to happen, she loses her momentum and those leads start to evaporate and they are right in front of her. if we look at the social media data analysis, the same research and analytics that i use in the corporate world, we see that bernie sanders is the revolutionary and his people are coming on the facebook, creating community and they are taking her down. he is not the leader that trump is. trump is leading his troops on twitter. bernie sanders is do something different. he is the revolutionary leader through facebook and getting this. two different campaigns with the same results. >> when you look at some of these rallies that they have, a clinton rally and it's all older people behind her. when you look at bernie sanders it's all young people, ma lineals. what do you think is behind this? >> i think were in an early stage and i think that we are
seeing the same thing that we've seen before and that is the extreme that -- and we will see what happens. >> but hillary to be to be losing this much. >> i brought you some of the posters that the revolutionarys are using. they are called names and all over facebook. i brought you an example. i don't think you've seen them but the feel the bern is one of them. we have free college, free health care, free daycare, we are living more years. this is a humor of the millennials that is building his support. there are thousands, i brought you six of them, this is what's happening. >> after we back up your employer then we get your 52 weeks of vacation. >> he is not the leader that trump is. he is the revolutionary and they are all following behind him.
hillvy getting frustrated a -- hillary is getting frustrated if she doesn't understand the generational change. >> is that why she started barking yesterday? that was weird. >> she's starting to lose her composure and she has to go back to her roots. hillary understands how the political process works and right now she's losing. >> we are inside the war room with the clintons now, what's going on inside that war room? what are they saying? >> we have bill clinton who is pissed off and we can see this. he's upset so he's going in deep. they were talking about who will get fired. they are a mess rights now and they are looking at the states and don't know how to stop them. the solution the in front of them.
if we will speak to ma lineals, we have to talk about their issues and what's important and sanders has caught that. >> they have all this college debt. they want free college. >> i can take from some body else and send it to me. they have to understanding thousand economic system works. >> they are not as materialistic. it's not understanding socialism versus capitalisms. they understand purpose. it's not just about making money. the ma lineal generation is all of us know in marketing they have different values in the last generation. >> they might as well be scientologys pause it's all about -- because it's all about the sell. >> 92% of zero -- they are not making any money so none of the economics really matters.
>> they don't understand getting $675,000 to do those speeches. >> that's with goldman sachs. they don't know why they have hundreds of thousands of college debt. she talking to issues. >>ly ask you about this super delegate story. everything you are saying, bernie sanders, is running he has so many super $tkpwats and how did -- delegates and how can did she get those overnight? >> they are flakey and not committed. they are committed to her today but can change this mind all the way up to the convention. so just like she found out in 2008, don't count on the super $tkpwats, i looked up -- delegates, over 200 at large super delegates. they change with the wind. so, don't you think whole story
just smells up, it's like an under the table deal or something. oh all of a sudden, there's these people that say i'm in the corner. >> it looks like the system is rigged. the super delegates don't matter. they will follow the winner through. they will flip just like they flipped for president obama. >> i think sanders will win it. >> trump is president. >> that's why we have elections to find out. >> supposedly, sanders and trump by the candidates then i will step. this. so, right now -- michael bloomburg is running a poor pr campaign. if he's going to go in, then tell us he's going to run and declare and put it out there.
it's disingenerous to the process. >> the last was george wallace. i think bloomburg takes votes from hillary. >> absolutely. put we don't want someone doing the calculations. eithery u are running pause you are committed to be president or don't run. don't do the calculation that's disingenerous. >> last campaign is it's about a -- are you adh this time? uh, i am not a big hillary fan. >> anybody but hillary. >> last time was anybody but obama. >> i think a lot of people are looking at you saying you were right you said it from the get-go. thank you so much. tim cook is pushing back against a court order to unlock the
california shooters op iphone setting the internet on fire. i asked the tpweut twitter followers to weigh in on this issue. >> one said unpatriotic, another saying why wasn't it done already stph-r. >> >> urging apple not to give the software to the fbi. more after this. stay with us. ♪ in new york state, we believe tomorrow starts today. all across the state the economy is growing, with creative new business incentives, the lowest taxes in decades, and university partnerships, attracting the talent and companies of tomorrow.
air missile system to a cop tested island -- to a contested island in the south china sea. china, as well as tie wa*pb and vietnam -- taiwan and vietnam each claim the land is their territory. it features an angel in the colors of the sun set, wings out stretched and the sunshineing from its heart with the slogan, "follow the sun." >> america has to be the top dog this morning. cj the 3-year-old german shepherd took top honors beating out 3,000 other contestants. a south florida teenager is in jail after posing for a doctor for the second time in just over a year. the 18-year-old known as dr. robinson to his patients was arrested after he gave physical
exams and medicine to people including an under cover officer. he's the same teen pretending to be a doctor. he was peeking on the in medical exams at that time. still to come, opec putting pressure in iran to join the production freeze but with sanctions finally lifted will iran cooperate? that's next. as we head to a break, pope francis getting tesy with a crowd in mexico after they got two hands on and tried to to pull the pope in the crowd. pope was unharmed but scolded the onlookers for being selfish. pack in a minute. . we live in a pick and choose world.
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welcome back. now opec members are in iran now. they are trying to negotiate the first oil deal in 15 years. e iran is pushing back saying it's illogical to join the opec oil freeze. >> the market is optimistic. so maybe the deal isn't in trouble. they sense that iran has a point. it isn't logical for all the other oil producers to lock in these higher level of productions while iran hasn't been able to increase production for the last couple of years. the market is optimistic. we are knocking on the door on $30 a barrel on optimism that maybe they get iran on board and the interesting thing is they probably have already been talking for close to an hour right now and haven't heard
anything negative so that's giving the market about. we this see if they get a deal. >> so thanks very much. let me transition from looking at oil to the broad economy. whole expectation that we go into a recession this year, what do you think about that? how does real estate feel to you today. >> i think that current environment suggests that we are already in a recession or that we're rapidly moving in a recession. world trade has slowed down, the currency issues continue to be all over place. they have china going one way and japan and the euro going the other way and the sun certaintys oh of the selection -- the uncertaintys the contribute to this. so when i look at the prospects, i keep looking all over the world and all over the united states for demand and the demand
is weak and openly, the recessions reflect falling. >> you have been so smart in the past by selling at the top, do you think markets are reflecting that and sit justify? ed do you think these markets keep showing decline and volatility? >> well, i think the answer is any day you are not a buyer you are a seller. so over the last year, we just looked at opportunities and said this is pretty frumpy and the financing that's been available and equity that's been available has pushed up asset prices. obviously the result -- so, from our perspective, we look at it and we say we have to balance both prospects and at the moment we are probably more a serial
than a buyer. >> -- were probably more a seller than a buyer. >> the asset inflation -- didn't have a lot of tools if we go in a recession. from a policy perspective if we get the data that says blank/blank recession. >> i don't know. if i knew, i would be rich. >> i think all our viewers saw that wink. >> i think answer is yes. i think the fed the doesn't have a lot of tools and think it will make it more problem mat call if we end up in a more difficult situation. i'm not predicting a repeat of the big financial crisis, the banking system is so much better today and i think the over all system has been in better shape. >> did would you break up the banks here? i think that's ridiculous. i think the idea that we are going to shrink our power in the
world -- >> and neil just made a whole case for it. >> i guess the question is, are you talking about what is economically best or what is politically best? i can't see any thesis in shrinking america's economic power is better off the u.s. or the rest of the world. >> what policy would you recommend here? let's say you get something fast through congress or something that the president would suggest. what would you to help tout economy? >> i think the single most important issue is the entire question of cost benefit. we talked about cost benefit for years, people have talked about, the cost versus -- the reality is congress has basically created an arena where they
pretend and like they extend if real estate and they are in the oil. they pretend that they are solving problems but they are not and so, we had -- part of the reason we have a 2% growth rate instead of a # 4% growth rate is because we have had regulation going crazy and extreme regulation and the fact that these regulation issues are ending up in front of the supreme court sr. -- is not an accolade to negotiate the by bipartisan world. >> they had plans to roll back regulation and implement tax reform. donald trump has been a face of real estate, have you done deals with him. >> i have never done a deal with him but i had significant interface with him. >> what you think about him as a candidate? >> my only candidacy would never under estimate donald trump and
although donald is presenting a different picture, i think he's out there testing his own limits and everybody else's limits. but he's not a dumb man. he's been very successful. he is willing to put himself out there and take extraordinary extreme positions. >> do you think he would follow through on those positions if he's elected? >> no. >> like the ban on muslims? >> the ban on muslims had been converted to a ban on muslims. what he said was stop. we don't know what's going on. take a time out. find out what we are doing and how were doing it. that's a lot different than the media's ban on muslims. >> okay 45% tariff on chinese goods. >> i think that's ridiculous and that would start an international trade war and i think the chances of anything
like that are nothing more -- very remote and i think these are political presentations just like you can keep your doctor if you want to. >> we will talk more about that. when we come back. new reports at the white house had a plan b for iran if the nuclear talks failed. we will talk to the marine corps general in a minute. back in a minute. and everything we ship has something in common. whether it's expedited overnight... ...or shipped around the globe, ...it's handled by od employees who know that delivering freight... ...means delivering promises. od. helping the world keep promises.
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they say you shouldn't spoil your kids. but your grandkids? how about front row seats to the best show in town? and that is why you invest. the best returns aren't just measured in dollars. td ameritrade®. maria: welcome back. a new report from "the new york times" says that the united states had a plan for an extensive cyberattack on iran just in case the deal to suspend the country's nuclear program failed. the plan was aimed crippling iran's air defense, key points of power grid. it was put on hold after nuclear deal was reached last year. joining me is retired marine corps general anthony zinni. thanks for joining us.
>> good to see you, maria. maria: what is reaction to plan b? >> that is an important component to any military action that would be taken. we shouldn't fool ourselves that is the panacea. that will be the sole military act we have to conduct to win a war or get iranians to submit. we should have learned from shock and awe and from the current approach of trying to use drones and special operations to win wars. there is no shortcut and at that is enabler. part of a process but it isn't the total answer. maria: i know that, i'm not saying that iran is our friend. i know we just did a deal with them and five other superpowers, but the fact this information has gone out, what do you think the reaction from iran is going to be. >> i'm sure they will react in some sort of a hostile way but they're realists. they understand we have the the capability. i'm sure they would like to have
the same level of capability. i'm sure they have some but it is a fact of life now. potential enemies as well as our own allies can have the capability to disrupt enyou my command-and-control and information communications through cyber is spa. just another element of conflict that's been added to the pile. >> general, that offensive, potential offensive move against iran begs the question, do we have defensive capabilities against those offensive moves from another nation if you will? >> that's a good question. we are obviously vulnerable. we see that every day. all our systems, our government systems no matter how highly classified seem to get penetrated. in the corporate world we find same problems. i want to emphasize. it is not just vulnerability to cyberattack. if you look at the most simplistic capabilities to have
sleeper cells around the world, simple thing like dowels, the fishing boats, iranians have can kick mines overboard in the straight of hormuz. imagine what that does to saudi oil tanker coming through. in regards to your show, maria, what it would do to the economies around the world. maria: what should the u.s. be doing with regard to the south china sea? do you think the u.s. should be doing something? >> we will assert freedom of navigation rights. planes and ships will go through water the lamed -- claimed by the chinese. i don't think either side wants to see miscalculation. this is more about asserting rights. it doesn't benefit either side to miscalculate in some way or escalate to a point where a miscalculation is possible. maria: right. here is dagen mcdowell. >> general, do we run the risk
our enemies take advantage of the rhetoric and vitriol they're hearing on the campaign trail and a lame duck president who is not really willing to act in his final year in office? do you worry they will take advantage of that? >> i'm sure that our potential enemies look for opportunity to leverage any kind of dissent or perceived separation that the american people might have but i think what you see mostly around the world is everybody's waiting for november and will adjust their strategies based on their assessment who wins that election. maria: i think from a corporate segment companies are sitting on cash waiting because they want to see change in regulatory environment. they want to see a change this environment. concerning national security and airstrikes in their 18th month, have they been effective and what do you think your the
plan should be in fighting isis? >> i think nato should invoke article v. nato will be attacked and and attacked again. this is high-risk gamble. we could be attacked while we're slowly trying to stop isis. we should put ground forces in supporting saudis and emiratis to enable them to commit ground forces. iraqis are standing up in very slow way. kurds need toe be armed better. we need to have a three-front war and take out isis in matter of weeks if we were willing to make commitment to ground forces. we look weak in this strategy. it is a high-risk strategy hoping we have the time and space before we end up with paris-like attack here or elsewhere where our nato allies might be vulnerable. maria: general, we so appreciate your comments and insights this morning. thank you for spending the time. >> sure, maria. maria: see you soon there. apple opposing a court order to
help the fbi access iphone of one of the san bernanadino shooters. jo ling kent on the story. >> good morning, maria. the san bernanadino shooting was more than two months ago, but now ceo of apple tim cook will fight a court order that calls on the phone-maker to give a master key on the encrypted iphone 5c owned by one of the shooters. they say this type of software which does not exist today would have the potential to unlock any iphone in someone's physical possession. cook goes on to say we feel we must speak up in the face of what we see as an overreach by u.s. government. the u.s. government wants apple to get around the pass codes, the four digits you punch into your iphone to find out where the couple was before the shooting, who they talked to and what their connection was to terrorists groups around the world.
so this is important piece of advice, piece of evidence. they do believe it contains some of the most important content to solving what actually happened. maria? maria: jo, thanks very much. jo ling kent. we have to ask about latest interest rates and housing. latest news on housing, january housing down 8.3%. can you characterize housing and real estate market today? >> if you deal with the single family market for 20 years we built over a million houses a year. we now had this terrific recovery and we're building five or 600,000 house as year. more -- mortgages are still very difficult to get. i think i mentioned before that there was a recent article where the average fico scores were materially above what existed, you know, five years ago. maria: so in other words harder and harder to get a mortgage? >> yeah.
it is harder and harder for particularly, on the starter side, to create demand. they have a lot of other obligations and then millenials themselves are pretty averse to commitment. maria: what about the federal reserve, do you think they will move this year or no more rate hikes. >> i don't know whether we have no more rate hikes but clearly i think the fed waited too long. i think the raise they made looked likes an afterthought and looked like a response to pressure from the street as opposed to an appropriate and measured pace. it's hard for me to imagine based on what i see today that we're going to see interest rates going up. now the other side of the coin is the multifamily sector continues to be very strong. and there's nothing on the horizon that would suggest that in effect that continued
strength will not continue. maybe there's been some moderation in the rate of rise but there's still enormous demand national occupancies are at higher records. >> rental rates will continue to go up the way they have and take a disproportionate share of cpi? >> i think the answer is yeah, i think rental rates will continue to go up. keep in mind, anthony, that the u.s. has been the cheapest housing market in the world for 75 years. >> post-world war ii. >> and continues to be the cheapest market in the world and, you know, if you took a average german and average american and compared their houses, the german houses materially more expensive. >> we have all this land to put new properties on, right? there is almost endless supply of homes here potentially.
>> there is lots of land in europe too despite protestations. >> refinancings homes where interest rates are, tell viewers what you said during the break. >> the answer is it is not about the rate. it is about the availability. getting a mortgage today is materially more difficult than it was four for five years ago. >> that put as crimp on future disposable income from the average -- >> there is a reason why we're building half the number of single-family houses we built before. maria: hasn't lightsenned up a little bit last two years? people are saying based on signs of 2006 coming back to roost last two years. >> i don't -- maria: you don't think so? >> think back to '06, '07, '05. there was extraordinary mortgage fraud and extraordinary loose conditions. i see nothing like that.
if anything like that i think conditions have failed to return to normal. >> but is that wise in some way with the government still controlling fannie mae and freddie mac? like you would expect them to be more reasonable, wouldn't you? >> you know you have spent the last, 25 minutes talking about too big to fail. >> right. >> the government is scared to death of a repeat of 2006, 2007, and the government doesn't move in nuances. the government moves like a plodding rhino and so the result is, that you know, we now have, backlash, which is we're not going to make too many mortgages. we're not going to take too much risk. we're going to have highest fico scores ever. >> which is decreasing risk of a slowdown and possible recession? >> certainly in the past housing has been a enormous contributor to the economy. it has, and we have seen a lot
the supreme court. >> the constitution is pretty clear about what is supposed to happen now. when there is a vacancy on the supreme court the president of the united states is to nominate someone. the senate is to consider that nomination. maria: there you go. joining us right now senior congressional correspondent for the "washington examiner" david drucker. david, good to see you. thanks for joining us. >> good morning. maria: will president obama get his nominee through? >> no, he won't. maria: why? >> i think it is very telling that mitch mcconnell so scoon after scalia's death. one, conservative and republican base have been upset by the conservative majority because they haven't delivered on anything. hard for senate republicans to make voters understand all the things they blocked or opposed by being there. this is something tangible they can deliver.
look at the fact time and time again the president obama gone around congress and in opinion of republicans he has done so in a way is extra constitutional. his arguments about the constitution and what the senate is supposed to do about its vacancy are very true but will not sway republicans who feel like the president gone around them and gone around the law whenever it suited them. maria: sam zell in the studio. what do you say, sam? >> all of sudden he is standing on constitution says, constitution says, he spent the last seven years trying to go around the constitution. >> he block ad couple of bush's nominations. >> let's not forget that. sam alito. he tried to. >> yep. >> so this is more political hypocrisy. >> imagine that, there is political hypocrisy out there. >> i think the press is spending way too much time on this i think the press basically created this issue and
unfortunate you know, justice scalia died and you know, politics are going to go on like they did when harry reid ran the senate. harry reid refused to create a budget. maria: they still haven't had a budget. >> was the press screaming at harry reid, where is your budget? maria: how come no one ever said anything about that? i have been asking, excuse me. i'm asking the questions. >> all i know is, your voice is smaller. maria: i guess so. >> if you were communications director for the republican party would you come out with a statement several hours after justice scalia's death? >> i would have said zero. i didn't see any reason for anybody to say anything. i think that this is probably more gotcha journalism than it is an issue that needed to be vetted in the public 26 hours after his death. maria: david, why didn't they just shut up, be quiet? the fact that they came out so soon after scalia's death looks like republicans will block
anybody, even if the person is qualified? >> well the republicans were going to block anybody even ifer this qualified because you have a 4-4 split court. you're losing scalia who wasn't just sort of deciding vote to help tilt the court conservative or republican if you will, he was a conservative, legal giant and a thinker who really influenced the direction of the supreme court. in terms of conservative thinking. this was a really big deal. given this is what they were going to do, i think mcconnell decided to seize on it. i think you need to understand something about mcconnell as well, in addition to being majority leader of senate, someone very keenly interested in the supreme court. pushed a lot of free speech issues through the supreme court. this is that matters to him quite a bit. i think if mcconnell hadn't have moved there would be argument in the republican party where the senate republicans, why aren't they standing up, why are they backing down, why are they being wishy-washy. maria: we know the plan.
>> that was going to be their plan anyway. no mystery bit. the president will play his cards and may turn out to be the better cards but this is case where i don't think you can say one side clearly benefits or doesn't benefit based on strategy, both bases are interested in this. maria: david, great insight from you. david drucker. we'll be right back.
>> i'm adam shapiro live on floor of new york stock exchange. futures looking up as we head to the opening bell roughly 9:30 this morning. t-mobile out with earnings that wall street liked this morning, up 5% in the premarket. they added 2.1 million new customers in the last quarter that makes it 11 months in a row they added one million or more
customers. t-mobile on a roll. when compared to year to date compared to competitors like at&t and verizon, at&t up 6.5%. verizon up 8.%. t-mobile down 8.6%. priceline, wow up 11% in premarket. beat on earnings estimates. more "mornings with maria" right after this. [woodworker] i live in the fine details.
maria: welcome back. back with sam zell this morning. sam, you said probably continue to see volatility in markets. you're still a little worried where things are. categorize where we are with the presidential election here. what are your observations? >> obviously we're dealing with a very unusual situation. as we just talked a few minutes ago during the break i think it's very possible we will go into republican convention without a designated candidate. and, i think that, uncertainty is not terrific but, that add as
level of excitement that's been missing from political conventions for a long time. as far as the economy is concerned, you know, we have to focus on growth. i think that that the country done itself a great disservice. we had a lot of political leadership talked about the disparities and wealth redistribution but the basic essence is wealth redistribution and growth are incompatable and the society has to make a decision whether growth is important. and if it is, there is a price to pay for it. part of that price is some of the disparity in incomes but that also, you know, disparities of income also create opportunity. and that's what america is and should be about. maria: sure is. sam, great having you on the show. thank you so much. sam zell, anthony scaramucci, dagen mcdowell, always a
pleasure. that will do it for us today. big show tomorrow. join us on 6:00 a.m. on "mornings with maria." time for "varney & company." stuart have a good show. stuart: thank you very much, maria. it doesn't matter what he says, doesn't matter what he does, donald trump keeps his big lead. doesn't matter what she says or does, hillary clinton heads deeper into trouble. good morning, everyone. there is a lot to go at. start first thing this morning when quinnepiac released it is new poll. trump 20 points out front. hillary statistically tied with bernie sanders. this is national poll just like a presidential election. wait until you see the full results. the fbi says to apple, unlock the san bernanadino terrorists iphone. no, says tim cook, not going to do it. it is safety versus privacy argument playing out in real time with a real terrorist attack.