tv Risk and Reward With Deidre Bolton FOX Business May 18, 2016 5:00pm-6:01pm EDT
president obama's recent budget includes $70 billion of regulatory activities and staff of more than a quarter of a million full-time regulars. melissa: they will tell you french fries will make you fat. david: no? melissa: i know. david: that does it for us. "risk & reward" starts right now. >> i hear fearful voices calling for building walls and distancing people they label as others. instead of building walls, we help people build bridges. deirdre: a faceoff at facebook. you're looking at company's headquarters where there is a big meeting going on right now. this is "risk & reward." i'm deirdre bolton. tech blog gizmodo alleges that facebook has an anti-conservative bias on its news feed. founder, ceo, mark zuckerberg of facebook denying the claim, inviting conservatives to california for a discussion. so attendees include, tv radio show host, glenn beck, fox news dana perino, president of the american enterprise institute,
arthur brooks, donald trump's advisor, barry bennett. david: empty romney former digital director, zac move fat. and former senator jim demint. robert gray outside of this off the record session. robert, facebook has billion daily users. base took has to get the conversation right but i know a lost conservatives are skeptical. what are you hearing there? reporter: there is a lot of skepticism out there, deirdre, for sure. the meeting, sit-down starts officially in half an hour's time, across the street behind me in the headquarters there. some of the folks attending i would say, cautiously optimistic. they say facebook is at least addressing the problem head-on and taking the right step by having this sit-down. dana perino for one saying it is a fixable problem. mark zuckerberg as you mentioned is denying there is any human bias in here. one thing they will be finding out more about is the algorithm.
how do things trend on facebook? it was long believed there was simply an algorithm decided it by whatever was most popular in feeds. turns out according to allegations from unnamed former facebook employees, that indeed humans were deciding and opting out for some stories, suppressing some of them. allegedly more conservative viewpoints and some conservative commentates who would actually be on hand. we talked to dana perino a few minutes ago, deirdre, and she was talking a little more about the algorithm. >> just to understand the algorithm. i'm not a technical person. i always have to call tech support even just changing my password. there are a lot of great engineers here and hopefully they speak in my kind of language so i can understand it. there is this tension -- reporter: and that tension of course, coming from conservatives here in the u.s. she says facebook needs to address this. it can not afford to alienate half of the voting public out there. she also went on to say, you know, they would like more
transparency on the social standards policy, to find out exactly why some sites or posts are not permissible while others are. she says again it's a fixable problem. she says facebook should be concerned. they can not alienate half of the voting public out there. she went on to say it takes years to build trust. that can be lost in few seconds time. we talked to the editor-in-chief of the "daily signal." he reported they are seeing unusual traffic patterns with facebook feeds and facebook posts and amount of hits they're getting over the past year. he would like more transparency perhaps why that is. are they really not as popular as they were or something else is more popular? they want to get to the bottom of this. deirdre, we should point out as far as wall street goes, talking to analysts, not at this point that you don't see mass defect shuns. we'll wait and see. the stock outperformed the s&p
and nasdaq since allegations came out but not too far off the record highs. back to you. deirdre: very close to those. thanks for that context. robert gray with me there outside of facebook headquarters in california. so my next guest part of a group invited to that meeting but said no. the executive director of the american conservative union, dan schneider is with me now. dan, glad you're here. why did your group say no to the facebook invitation? >> well, deirdre, thank you for having me. look, the problems with facebook run deep and long, and simple meeting of one 90 minute meeting with 10 other people in a room, that is not the way to address a problem. we're happy to sit down with facebook. we tried to sit down with facebook in the past to address some of these problems. they have not been in talking to us in any meaningful way. we hope this will begin a dialogue where we can spend real time discussing real issues in a substantive way. deirdre: okay, so, dan, your group organize as well-known annual conference.
we cover it here. it is known as cpac. and you say that facebook has admitted to suppressing content about the event. so first of all, how did you figure that out? when did it happen? >> well of course the gizmodo article quoted facebook staff who said they were specifically instructed to suppress cpac coverage. when we met with facebook people before cpac, we clearly got the signal that they didn't appreciate us very much and even used some language that characterized us in very unflattering ways. so none of this is a real surprise to us and we also see the kind of policies they advocate for in washington, d.c. those are also left-wing policies. so from top to bottom we understand that facebook is a liberal organization run by liberals and that's fine. they can run their company the way they see fit but we want to make sure there is transparency and american public --
deirdre: when you talk about transparency, that brings up a great point because i think at this point at least for the news feed division, it is essentially acting like a publisher, even "new york times," whatever you think of that magazine, they don't encourage bias. journalists are not allowed to make donations. that is not the case at facebook. do you think part of the conversation to the news feed, you're now a publisher, at least this branch. more a publisher than a tech company? >> i'm not interested in people telling facebook how to do its business but we do want transparency and honesty. we heard about this algorithm. it is basically a mathematical formula. it is not a sterile set of numbers. it is directing people to look for trends and they are specifically directed to look at liberal websites and liberal media outlets like "the washington post," "new york times," msnbc and stories running on those sites
or those media platforms, they're not going to trend on facebook. so, thisathematical formula is specifically designed, i don't know if it is intentionally designed this way but it is specifically designed to exclude liberal or exclude conservative coverage. deirdre: facebook's line, you know both sides, even if our viewers don't, people self-select their own filter but we're going to continue on with the conversation. meantime, dan, so glad you joined us. thank you for bringing your point of view. it is important to us. dan schneider, actually ask you one who are thing. white house logs showing google unrivaled access to the obama administration. google's director of public policy, the company's top lobby by it, visiting white house 128 times. other companies combined visited white house 124 times. come back, facebook, oracle,
verizon, all added together still do not match up to the access google had. so how do you see google versus facebook or any of the other companies you mentioned? >> the story is even deeper than that. former google employees now run the patent and trademark office. they used to run the science and technology policy office at the white house. google employees are throughout the administration. and the policy is the google corporation supports are again policies of the left. they, google wants to diminish the value of intellectual property so it is cheaper to acquire other people's patents and as an organization that supports concept of life, liberty and property, property of all kinds, we believe in a strong patent system. so that people's ideas and inventions are protected. google has a different business model. they have tried to use this administration to effect wait that plan.
the president does not like property rights very much either. so we need the restoration of intellectual property rights and a strong property system. deirdre: dan, let me ask you just to compare so we're not just focused on tech and telecom, oil companies, we have some stats to show our viewers as well as defense companies and people can read for themselves. essentially tech and telecom is outweighing all these other industries combined? is that a problem. >> yes. well, what's a problem is the left-wing bias of the representation coming into the white house. we need to have clear lines of communication from all perspectives, especially the traditional perspectives relate to property rights. without property rights and rule of law, our entire society will flounder. deirdre: dan, thank you very much. dan schneider with me there, american conservative union executive director. a group that declined facebook's invitation. with more on crossover
between silicon valley and see de, my next guest says he has a possible solution at least as far as facebook and conservatives go. jeffrey fowler. he writes about personal tech at "wall street journal." great to see you. what is ire facebook solution? >> i think facebook needs to give us a mix it up button. right now the news feed, the main thing we see when we look at facebook on our phone or the web it is kind of a black box, yet it has become such an important source of news for americans. 60% of the americans on facebook use it to get political news. liberals actually even more so and they rely on it extra heavily but we don't really know or have very many controls of what we're seeing in the news feed. to give you that point actually my colleagues here at journal made interactive, find it on our website, shows you two versions of facebook you probably never get to see together. one is a conservative feed and the other is a liberal feed. deirdre: i'm so glad you guys did that that is awesome. >> i recommend checking it out.
what it is a product that facebook never made for us, its users the something allows us to see competing views side by side because the news feed is something made back before facebook kind of was a source of news and was really, it is algorithm tuned to get us to click like on sunset selfies or cat videos and tuned to just show us what we think we already might like. it is not good for democracy i think. deirdre: could do i think facebook will take you up, i like your idea, jeff, opposing viewpoints button because at least that start as conversation? >> the journal is interactive based on some data facebook shared with researchers last year when it did a big study on this question, people call the filler bubble problem, the echo chamber problem of the fact my colleagues at journal take the data make a product of it, suggests that facebook could do a whole lot more. they have already done something i think is partial step there. if you click on a story on
facebook and you read it and go back to the news feed, you see underneath it, a collection of related links. right now those are just kind of a random assortment of things. facebook could use its data to actually then give us some choices. show me something kind of to the left, to the right or completely opposing point of view. that is the kind of thing they could use again, take some sort of responsibility for what they have become. i were saying it earlier. facebook now is a publisher. they're a major source of information for americans and that gives them a different set of responsibilities. deirdre: even, jeff, if we want to just talk about facebook's business model, the more its users are engaged, you love something, you hate something, that is still a win for facebook, right? >> that's right. now the question is do americans or people on facebook in general really want to be exposed to all points of view? i have herd from all sorts of readers. not everybody does. you think it might be better for democracy to have diversity of
opinions but not everybody does. facebook stands on high horse for all the good it does for the world ought to understand the value connecting people with different ideas as well. deirdre: jeffrey fowler, thank you so much. >> you bet. deirdre: so cool from the "wall street journal." with a pretty good solution if mark zuckerberg wants to hear him out. facebook's stock, we want to show you what it did today. slightly higher. fourth anniversary by the way of the social network as publicly-traded company. we'll have more on this later in the hour. talking about finding and investing in the next facebook. meantime billionaire elon musk, tesla you have the stock down of a hours. the electric can car company announcing a sale of $2 billion worth of shares. it is doing that to help fund ramp up of its model 3 cars. we'll bring you more on that in a minute. u.s. stocks closing mixed after the fed released minutes of april's meeting. central bank said it is
possibility rates could go higher if the economy improves of the dow closed ever so slightly lower. nasdaq be s&p 500, ever so slightly higher. new video shows former president bill clinton sounding a lot like donald trump on illegal immigration. we're going to show it to you. some supporters of senator sanders are making death threats over nevada's distribution of superdelegates. here is just one call. >> you are a fascist [bleep] fascist [bleep]
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and unruliness at his rallies. a recent rally in nevada turned violent. some are concerned that july's democratic convention will end in revolt. >> i just want to let you know people like you should be hung in public execution to show this world we woken stand for this sort of corruption. >> i'm interested in your dictatorship. had a few questions regarding how i need to vote for the dictator in november hillary. >> you're a fascist [bleep] fascist [bleep] deirdre: all right. clear points of view but ba whoo these mean for election in november. we have a political power panel. thank you all, one and all for being hire.
jessica, if hillary can't shake senator sanders now what does it mean for the general which we assume will be against donald trump? she has shaken him if he would pay attention to the what is going on. this bernie world they are living in and bernie sanders is living in himself when you heard him speak on tuesday night. decried violence a little bit in nevada and talked about how they will move on to the nomination. he doesn't have a path. he lost a superdelegate this week, one of his 39, flipped for clinton. said this is will of the people. she has over 3 million votes. 300 pledged delegates ahead. so it means that bernie sanders has a lot of work to do. he has to come back to reality and unify the party to beat donald trump in november. big responsibility and he has to get on board. deirdre: do you feel like sanders is hurting clinton which
will therefore strengthen donald trump in november? >> he is absolutely hurting hillary clinton. he needs to be doing is turning and pivoting into general election mode. her negatives are extraordinarily high as are trumps. as long as she is engaged in a primary fight against the grassroots of her own party, the worst it is for her. she really needs to be uniting her party, incorporating bernie sanders supporters into her coalition and pivoting to the general election fight against trump. the longer this goes on, the worse it is for her. who would have thought a republican primary that started with 17 candidates would have concluded before a democratic party primary most people thought hillary clinton had locked up. deirdre: so do you think she should offer to him to be vp? they seem like they don't like each other. >> i think that is unlikely. what is more important to incorporate his supporters into her coalition and to signal to
them they have a place in the clinton coalition than to offer him a position that think he would be unlikely probably to accept. deirdre: kirsten, when you step back and look at both parties what do you see? because there was a rumor, we have to call it that, mitt romney might be considering a third party. he squashed that. vp joe biden making a statement right this minute, saying in fact senator sanders should denounce the violence and discourage his supporters from speaking in those terms. but, which convention is going to be livelier? >> well i think at this point i think we can assume that the democratic convention will definitely be the one to watch but really taking a global view of this, you're seeing millions of people across this country who are just fed up with the status quo on both sides. that is what drew the energy to donald trump. that is what is drawing energies from these people and they're not driven by ideology per se. not that they're extremely conservative or they're
extremely liberal. they are driven by the socialist message of bernie's campaign. they want someone who will go in there to upset the applecart. that is really what is driving this. as far as bringing bernie's people into the hillary cam. i don't think you will do that you have as many never hillary people as never trump voters. what we're seeing in the election who isn't going to turn out. more people who will never vote for donald trump or more people never voting for hillary. either way bernie needs to come out to condemn this. stop using word revolution, because that has violent context in history of liberal movements. deirdre: hang tight with me. meantime, senator sanders today accepting fox news invitation to debate hillary clinton in california right before the state's june 7th primary. 546 dem delegates are up for grabs in the state. fox has yet to hear from hillary clinton. take a look where oil
closed. it was lower today but context wall point. today's average22.24 per gallon up -- 2.24 per gallon. new video emerges that shows former president bill clinton sounding lot like donald trump about illegal immigration. >> and who is going to pay for the wall? >> who is going to pay for the wall? >> mexico. >> who is going to pay for the wall? >> mexico! ♪ there are two billion people who don't have access to basic banking, but that is changing.
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inthe protection of our border. >> we'll build a wall. >> we're in precinct border control -- increasing border control by 15%. >> it will a real boarder. >> we're increasing inspections to prevent hiring of illegal immigrants tonight i announce i will sign an executive order to deny federal contract to businesses that hire illegal immigrants. deirdre: that was bill clinton talking about illegal immigration in 1996. and donald trump. pennsylvania congressman tom moreno has endorsed donald trump, he is with me now. welcome back. >> thank you. deirdre: do trump's ideas on illegal immigration sound similar to you from former president clinton from a different era? >> i brought that up sometime ago to my staff, i know i heard president clinton respond to this. very similar. deirdre: what does that mean
to you as we look at a general election in november. >> it might -- in my district in state of pennsylvania, trump took every county overwhelmingly, people want the border security. that is one themes among others that i hear, secure the borders. i was a prosecutor for 18 years, i saw what was coming in and the dangers this cost. deirdre: that is why so many people listen particularly when you speak, is because you have actually seen the consequences up front of the failing system. the obama administration is spending millions of dollars to find summer jobs for refugees. there is a white house fact sheet shows 200 million of summertion will be set aside to help 400 revenue students in utica, new york, what is your take.
>> this obama administration, the president does not care or does not know or he is delirious. i think it all 3, every time you important around he -- turn around he is doing something to cause problems here in the united states, but that is playing to the republican advantage. because hillary said she will do what obama has been doing. find let him continue to talk that way. deirdre: i want to ask you, you have endorsed donald trump, he did release names peeve people of -- names people he would like to consider for supreme court could we heard them say every single name on there is a nonstarter? >> when donald trump becomes president, he certainly will put those names or some of those names forward. i know the background of these people, first of all they believe in the rule of law. they are second amendment
people, they are pro life people, and they are separations of power judges that we need on the bench. we don't need legislators on the bench, we need judges that follow the law and follow constitution. these names that i saw, these people would do that. >> they are goldwater-reagan era kind of picks. >> right. deirdre: all right, congressman thank you. we love when you are hear. >> always welcome. deirdre: congressman tom moreno joining me here, he has endorsed donald trump. >> feds with possibility of a june rate hike if the economy continues to strong en -- strengthen, you had the dollar up on that, and gold lower if traveling to europe this summer it closing its gap with the euro, goal down more than 1%. -- gold down more than 1%. >> hillary clinton releases
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deirdre: senator sanders critical of hillary clinton's speaking fees, financial documents show in 2015 she earned $1.5 million, she slowed her paid speaking evens before run for president, one month before she netted highest speech price $315,000 for one speech from ebay. documents revealed that bill clinton made $5 million from speeches last year alone. my power political panel is bac back. thank you for staying with me, jessica, this is a lot of money for speeches, george w. bush has given 200 paid, receiving $175 thousand per appearance, at these prices some critics say this is not just about a speech but it is
about access and horse trading? >> i see it as the clintons are really great speakers, they have been in positions of power for decades, people like to have powerful people speak. former president bush powerful, but clinton foundation is up and running. that -- >> but double. >> i understand that it is double but until there is evidence that there was a quid pro quo, any of that, these are rumors swirling but it does hurt her, this is strongest attack that bernie sanders has against her, and donald trump will use it as well, he will say it's okay for me because i am a business person, you are in the world of politics, i think it does hurt them, i don't think anything illegal happened but yes, it hurts. >> kristen, i took these notes, virginia governor bob mcdonald and his wife more reason may go -- maurine may. >> to jail, they were found
for accepting more than $150,000 in gifts from a businessman while the governor was in office. it reads, clintons are aiming for white house. >> people who cialis inthere are people going for jail for less. >> i think difference is that virginia governor and his wife were in office while the speeches were after hillary clinton left office, but, what is interesting. someone pointed out that bill clinton speeches, like 11 of 13 speeches, he gave, after hillary clinton became secretary of state were each for over $500,000. there was some kind of hey, he is close to hillary clinton there must be access to state department, like jessica said it does not look good. but what is interesting, is that most of hillary clinton's income after she left her position at secretary of state, came from royalty, and speaking fees, and donald trump for example, his speaking fees are about .02 of
1% of his total income, this has been their livelihood. deirdre:alian a want to bring you in. theap reporting that almost all of the groups that paid for or sponsored clinton speeches, have actively sought to sway the government, some even contacting hillary clinton while at state department, to what, tent would should -- who extent would this shape the conversation? >> i think we can say, only difference between the clintons and the mcdonalds is that clintons were smarter about it and this is already had a tremendous impact on the 2016 conversation, it is this the appearance of profiting from having been in office, from political fame and being in office. but the grassroots are so angry and fed up, it is fueling bernie sanders' campaign, and fueling donald trump's campaign, people are sick of it. and bill clinton -- and
hillary clinton as secretary of state, gives appearance of inprinpriority. deirdre: thank you. >> small business owner will be with us shorty, seeing that administration cannot keep adding laws without congress' consent, his issue, government is granting overtime to millions of workers, that will hurt his business and others like it. >> i have a pen. and i have a phone. >> i have a pen to take executive actions where congress won't. and i have a telephone. >> i've got a pen, and i've got a phone. asthma... potential hospital visit. so now thanks to optum, this asthma thing's under control.
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working beyond 40 hour week. until you reach a salary of $47, 500 you have to be paid for that time, this is about stability. social and political stability. deirdre: vice president joe biden boasting about administration's new overtime rule that will affect millions of americans, but especially small be owners, fox business gerri willis with >> president wants to find a cure for stagnant wages, he wants to extend overtime pay to 4.2 million workers, they will double the maximum annual income a salaried worker can earn. so, administration saying that over next 10 years, an
additional 12 billion in overtime payments will be made because of rule change, they say it will be revisited every three years. people in private sector, small businesses are complaining this is going to put a big burden on them, national federation of independent services said that entry level management positions will disappear and those employees will fall become to hourly jobs, small businesses everywhere will be affected. this the 195th time we had a new rule from the president since the beginning of the year. deirdre: trying to get them all in before november. karen merrick is with me now, you are a small be business owner, you vist, how do you see this? >> i think, the rules did need to be updated, it had been 10 years burke they have over
engineered this. these new rates will hurt working mothers and millennial who want flexibility. deirdre: can you take us through that. >> let's say you are a working mom, you say, i will work an extra day, to take a day off later, because my son has a school play or if you are a millennial, they have said, in surveys, number one thing they want at work is flexibility. so i think that it can hurt and backfire 92 as a business owner, a founder as an investor, this just means more bad news, it sounds like for you. >> it is really difficult for a small business owner to come up with all capital they need to pay their employees, to invest in research and development for new products. every time you have more compliance, often time you talk about losing a productive
job to comply with all of the rules, there have been over 190 of them this year this is a real burden. deirdre: we're seeing that this campaign, this all about jobs, right? love them or hate them trump and sanders are talking about this. >> people are super angry, especially about wages since president took office, median incomes have not risen, conservatives and republican say not the right way, because, it will lead to fewer higherings and job in automation. >> original facebook investors made a lot of money before the company went public. average investors were not allowed in at that time, but rules are changing. you can invest in start ups, even if you have a lower than average net income. giving you more details.
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jonas, is this a good idea? at one point you had to show you were worth a million dollars outside of the value of your home, you were secure before you invested in start ups, now it is for everyone. >> what could go wrong? you had to be an acredited investor that already of a low bar with millions of cases of people losing money. the -- i want to like this more, i like the space where crowd funding of a have a new watch idea, you get a product, consumers can understand what they get, once you make an investment out of it, it gets touchy, a lot of problem with this. we're seeing first wave was peer-to-peer lending that has problems issue those stocks are down, returns are probably questionable. as for this specifically,
problem here is there is so much venture capital, that deals that be available to average person will never be the facebooks. deirdre: that is a great point, i just want to under line that, you are not going to get a hot deal if you put in $1,000 issue piecer deal with a billion plus will get that access. >> if it was a dried up market like in '02, you could make the case there needs to be more capital. problem if you have a good idea, you will skip this. some ideas are not going to be unicorns. maybe this may work, but still, i raise money for invest oars, it is tough. you have to do right placement, check people out, have you shareholders and they have ideas, that is not a picnic. this is not a recessio a regulatory freefall.
this is just a little bit of an easy of the rules, hopefully the start ups in this area, the people trying to put together the networks, that will be next pee peer-to-peer lending platform, but for most people i don't think thats returns will work out. deirdre: most angel investors are a third, a third, and a third. jonas thank you very much. >> with me there. a new invention may be able to help significantly overweight patients, one company inventing gastric bypass surgery in a pill form, dr. mark siegel with me next. anything worth pursuing hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird.
burning of diabetic nerve pain, these feet were the first in my family to graduate from college and trained as a nurse. but i couldn't bear my diabetic nerve pain any longer. so i talked to my doctor and he prescribed lyrica. lyrica may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. or swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling or blurry vision. common side effects are dizziness, sleepiness, weight gain and swelling of hands, legs, and feet. don't drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more likely to misuse lyrica. now i have less diabetic nerve pain. ask your doctor about lyrica.
deirdre: losing weight should be as simple as swallowing a pill. it's like gastric bypass surgery without the surgery. the device stays in the body for four nos, deflates, and is passed out of the body. >> i'm concerns that i have to deal with patients with diabetes and high blood pressure and heart disease as at result of being overweight. if diet and exercise aren't working and you are way overweight, you have to prevent
the bands we put around the stomach are less invasive. this is a pill, it's really non-invasive. i think it's extremely promising. deirdre: the device is being used in europe. >> by 2017 it will be approved for sure. it's a pill called eclipse. deirdre: what else do you see that falls under the category of the future of medicine. there is let cutting into people and more sleight of hand. >> i think personalized medicine is the wave of the future. who needs these things? i can say to a patient in the office five years from now, you are trying but genetically i can
see why you can't do it. everybody has a different metabolism. it's better to know who is going to need these pills and who isn't. deirdre: a study found 45% of people who have heart attacks have what they call a silent variety. they think they have a strained muscle. >> diabetics, people that are obese. they may not have typical symptoms. maybe fatigue, sweating, not feeling yourself, and you could be having a heart attack. we are talking about 100,000 people a year. women tend to die from this more. men get more of it. that's the amazing thing the study showed. men have more silent symptoms
because men have bigger coronary arteries. but you have to look for vague symptoms, fatigue, just not feeling like yourself. deirdre: thank you for joining us on risk and reward. "making money" with charles payne starts now. charles: a brand-new fox news poll has donald trump topping hillary clinton nationally by 3 points. clinton is ahead by 14 points among women, but trump lead by 22 points among men. and a bombshell. favorability poll, clinton's negatives surpassed donald trump's they view hillary negative and still for donald