tv Risk and Reward With Deidre Bolton FOX Business May 26, 2016 5:00pm-6:01pm EDT
only boat reached end of lake. melissa: that is unbelievable! you don't actually believe it. david: i don't believe it just because, our kids are very cute but they can't do anything spectacular like that. melissa: spectacular is in eye of beholder. and risk and reward starts right now. >> i am officially running for president of the united states and we are going to make our country great again! [cheering] who is going to pay for the wall? >> mexico! >> donald j. trump is calling for total and complete shutdown of muslims entering the united states. our republican system is absolutely rigged. afghanistan is going to hell. just want to stay in the white house and work my ass off, make great deals, right? they're ripping the [bleep] out of the sea. crooked hillary clinton, we
can't let it happen. i was being hit by poke -- poke there is little rubio. lie lyin' ted cruz, ladies and gentlemen, "lyin' ted"! i started running nine months ago. who would have thought i would be in first place. it was 17 people, then 15, then 12. deirdre: donald trump reaches the official number, he has the 1237 delegates needed for the republican presidential nomination according to associated press. this is "risk & reward," i'm deirdre bolton. here is is just earlier. >> newsflash that donald trump had won the nomination. north dakota, you brought us over the line, folks. i will always remember that. deirdre: donald trump will avoid a contested convention in
cleveland this summer. someone who knows a lot about the process, former governor and presidential candidate mike huckabee, with me now. governor, great to see you back. >> thank you, deirdre. great to be with you. deirdre: so donald trump the nominee officially. >> yes. deirdre: we knew he was but he has the magic number now. on to vp picks. we spoke a him bit about this before, paul manafort the person running the campaign, if he pick as woman or minority it would be pandering. who should he pick. >> needs to pick the person he is most comfortable with. he needs a partner in government. this is not just about winning election. people don't pick for vice president to win or lose an election. could be detriment or slight help. he needs to find someone who help him lead the country, borrow a term make america great again. that ought to be the criteria. not gender. not race. not ethnicity. competence. that ought to be the criteria. deirdre: so governor, you have
endorsed him, but i want to ask you, paul manafort said, well, vp, implied the vp may have more to do in a trump administration than in another one. he said well, this person will have to do everything donald trump doesn't want to do. i don't know what is on that list but who looks good? >> that is frankly a smart move because a person who is vice president should be employed to do more than go to funerals of foreign dignitaries. bill clinton used al gore in a way somewhat unprecedented. dick cheneys was almost as some a people called him the shadow president. he had a lot to do with foreign policy and running and executing the war. so you have seen vice presidents use very effectively. i think that is a smart move on the that's what he does. deirdre: do names come to mind, you don't know if they're on the short list but that makes sense to you. >> there are a lot of names. i hear people talk about newt gingrich and host of different folks, jeff sessions and others who have been early
endorsers of trump. ultimately has to be a person he is comfortable with and helps and doesn't in any way hurt. more importantly that when he makes that decision, that it is something that he can just rare back and say, this is terrific, whether people all jump in on it or not, the one thing i will tell you, a lot of people are speculating that they know something. one maxim i've learned in politics, people who know don't talk. people who talk don't know. deirdre: that seems like a pretty fair assessment. so i want to ask you since we're talking about domestic politics here, president obama is doing the same thing from abroad. so here he is from the g7 summit. >> they are not sure how seriously to take some of his pronouncements but they're rattled by them and for good reason because a lot of the proposals that he has made display either ignorance of
world affairs, or a cavalier attitude or an interest in getting tweets and headlines instead of actually thinking through what it is that is required to keep america safe. deirdre: so as some say it is in poor taste for a significant president to comment on a candidate. trump responded. >> he is a man who shouldn't be really, you know, airing his difficulties and he shouldn't be airing what he is airing where he is right now and i think that you are going to he see it stop pretty soon. deirdre: so, governor, what do you make first and foremost of the fact that president obama is talking about the our race? i think you keep family fights private and there he is in japan talking about our process here. >> he has such a great history of past eight years apologizing for everything america has ever done including our election process. that is not a surprise.
i think two things i took away from obama's comments, number one, when he says foreign leaders are rattled. name me one. secondly, good, i'm glad they're rattled. they need to be rattled. time that america is strong again and donald trump represents something that ought to rattle the world and make them realize america is not going to be, you know, this woosey nation we've pretended we have been unobama. real quickly, deirdre, the second thing he talks about donald trump is ignore rant, gee look at your smart diplomacy and your smart policies. how has that worked out for us? it has been a diss ister. deirdre: people often say that about hillary clinton as well, having foreign policy experience is good thing if it is good solid foreign policy, but if it is bad go with the inknown, you will not lose out. >> absolutely, if you're wired wrong and as obama hillary both are in terms of their world view you can have a lost education, but there is difference between a person who is educated and a person who is smart.
both obama and hillary are very well-educated but when it comes to understanding how things really work, i would tell you, they're not smart. give me a smart person any day over somebody who just has a bunch degrees with enough degrees to be guilty of having a fever. i take that any day. deirdre: all right. that is our sound bite of the moment, thank you very much, governor huckabee. >> thank you. deirdre: thank you for the time. have a good holiday weekend. >> you too. deirdre: thank you very much. well speaking of divisions, senator sanders and donald trump may debate one another. here is what donald trump told jimmy kimmel last night. >> here's the question from bernie. he asked, hillary clinton backed out of, hillary clinton backed out of an agreement to debate me in california before the june 7th primary. >> right. >> are you prepared to debate major issues facing our largest state and country before the california primary? >> yes i am. how much is he going to pay me? when we did the republican debates, fox had 24 million
people. largest in the history of cable television. we would have such high ratings and i think i should give, take the money, give it to some worthy charity, okay? >> if it was done for charity, you would agree to do that? >> if we pay a nice sum for a charity i would love to do that. [cheers and applause] deirdre: sanders responded with this tweet. game on, i look forward to debating donald trump in california before the june 7th primary. former senior advisor to president reagan, pro-trump super-pac member ed rollins is with me now. also superstar. we have to put that under,. >> how are you doing. deirdre: what do you make of the fact that hillary clinton refused a debate one-on-one with senator sanders both in the same party which is a usual event before the california primary, but senator sanders is saying about trump, sure, let's do it? >> sanders is not afraid of anything. sanders is obviously the most popular democrat in the country today. runs very well against any of
our cast of characters. hillary doesn't. hillary has no momentum. basically she made the smart move from political perspective but she basically will not take advantage of another opportunity to debate the differences between two right before the california primary? she may lose the california primary. if she does, very close today in poll last night, 2-point differential. she will limp into the convention. she may be the nominee, is the nominee i'm sure, but at end of the day she has no momentum. deirdre: without passion. >> no passion. this was perfect opportunity for her to stand with senator sanders. here is the difference between the two of them. deirdre: you think donald trump and senator sanders it would make both of them look good. for example, if hillary refused and two gentlemen do a debate, she looks bad because she doesn't have a seat at table on the platform, it makes senator sanders elevated right? >> absolutely. and it will totally dominate the media for the week of the california pro primary.
she can not break through that i predict if sanders does it, does all right which is not easy against trump he may well end up winner in california. deirdre: you mentioned tight poll. show viewer statistics as far as clinton and sanders go. california does have progressive pockets. he could do it. it is unlikely it seems but he could do it. >> to be perfectly honest running his campaign originally calfornian would rather have him in his position than her. she is establishment candidate who is not doing very well. she doesn't have very passionate following. he has very passionate following. obviously california unique liberal state i think he can do very well. those are good numbers for him. i think he could win this thing. deirdre: what if, this is really x-factor oddball, became senator sanders versus donald trump in november, maybe something happens with the fbi investigation, with hillary's emails, just factor in an x-factor here, who would win,
sanders -- >> polls today indicate sanders would i don't believe that at all. first of all, you get sanders out and look at things he is for, very advanced tax system, a lot of very socialistic views that are kind of -- an opposition candidate at this point in time. when you look at him as serious candidate, put spotlight on him i think trump win crush him. deirdre: trump started out arguably as opposition candidate but he is working in, apparently he had a food phone call with house speaker paul ryan last night. so eventually -- >> this will be a party behind him 100%. i was there day he announced, being perfectly honest look many others i didn't think he had a chance. we had strong field including governor huckabee. week by week evolved to be pretty significant candidate and now nominee. i think he will be much stronger candidate in the fall than anybody anticipates. deirdre: good to see you. ed rollins. >> good to see you.
deirdre: ed rollins, former advisor to president reagan and member after pro-trump super-pac. later this hour, space going there may get easier and cheaper. at least part of elon musk's vision for his space transport company spacex. multiple attempts started startn january 2015. the company successfully landed two rockets in the atlantic last go months. five total this year. launch is expected to take place 30 minutes time. we'll bring it to you if it happens. there is new leakedded audio raising questions about katie couric's documentary, deceptive editing is what is being examined here as far as issue of gun control goes. when we come back, a progun guest interviewed by the person who leaked video. fox business, painting exclusive video of socialist venezuela unraveling. citizens pictured here. you can see raiding a truck, looking in garbage for food.
economist and author ben stein with me next. you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates... maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. liberty mutual insurance. ♪ ♪ (charge music)
deirdre: these are exclusive to fox business. these video clips, hair roying scenes from seeingist venezuela. there is food shortage, forcing hungry and impoverished venezuelans to raid trucks. you're looking at exclusive video. people are diving in dumpsters for trash looking for food. some hospitals are out of medicine. the president declared a state of emergency as the country faces social, political and economic collapse. author and noted economist ben stein is with me now. great to see you. >> glad to be here. deirdre: venezuela's socialist dream is collapsing. most medium, large companies
were seized, put into state hands, bureaucratic and inefficient at best. even businesses apparently left alone faced regulation every single step of their operation. to what extent is this regulation part a cautionary tale for the u.s.? >> it is all cautionary tale trying to interfere with the basic laws of supply and demand. countries with free enterprise and private persons and private corporations making decisions about supply and demand tend to do very well. those run by state fiat tend not to do very well. the real question, why did this happen in venezuela and not cuba which is run with even more of an iron hand, even more disregard for markets? and i think venezuela made the mistake of trying to institute dictatorial socialist economic policies without being willing to enforce a thorough going police state. deirdre: i'm glad you brought that up. venezuela before this particular moment, before essentially the leaders ruined it was a pretty
wealthy country. they have tons of oil. they were actually running prior to the past 10 years, pretty well on that energy resource. the u.s. is a big importer. >> venezuela was the most prosperous large country in south america t was marvel of progress. a giant monkey wrench was thrown in the spokes of bicycle by socialists and communists. cuba trying to make trouble every step of the way. turns out the whole thing will fall apart unless you have a iron dictatorial grip which venezuelans don't seem to be in the mood to have. their government is not tough enough and mean enough to have it. thank god for that. cautionary lesson for defying free enterprise and defying the laws of supply and demand. deirdre: i heard essentially they talk about economic warfare and building in cia conspiracy to blame for some or almost all of this but seems like a coup is
a possibility. i want to ask you though, speaking of government's relationship with business, some american ceos are blasting senator sanders. we all know that senator sanders describes himself as a democratic socialist but ge, verizon, goldman sachs, they are saying that socialist views will hurt the u.s. economy. in fact disney ceo bob iger, he made comments after sanders spoke. we want to play those and then i want to tell you about iger's facebook post. >> i'm probably only politician to come to anaheim and say this i use disney, not just to pick on disney but as an example of what we are talking about when we talk about a rigged economy. deirdre: so in a facebook post iger wrote back to bernie sanders, we created 11,000 new jobs at disneyland in the past decade. our company has created 18,000 in the u.s. in the last five
years. how many jobs have you created? what have you contributed to the u.s. economy? so, ben, what do you make of iger's comments? obviously he was annoyed and pushed back and with facts. >> he is totally right. disney has been a boom company. a company people are begging to work for. one of the main things that sanders said you pay your employees very poorly and yet you charge these enormous prices. yes, and eventually the people who work there and are paid poorly work their way up are paid quite well, enjoy their jobs very, very much and move into the executive suite at some point to make real money. meanwhile provides americans with a great deal of amusement and fund. it is interesting, no communist country has anything like disney world or disneyland or knott's berry farm or anything of those things. all the fun in life comes from capitalist countries because they better understand human psyche and understand what people want to see and do.
disneyland is not oppressive country. cuba is oppressive country. those are oppressive couldn'ttries. those are ones bernie sanders likes. disneyland is fun country. deirdre: bin, let me ask you the ceo of ge weighing in, jeff immelt, furious because sanders said ge is destroying the moral fabric of america. happens if senator sanders goes further somehow in the political process than we all anticipate that he will? how would even relate to businessmen? >> i don't even know understand what he is talking about when he says that, the moral fabric of america is based upon self-reliance and chance to make something of yourself, make something from your family by your hard work, creativity, imagination and discipline. what is he talking about? talking about more free stuff and the ability of students to repudiate their debts. he doesn't promise anything that will make america grow at all. all he promises take from the rich, take from people who have
been successful, give it to people who are unsuccessful. he is promoting another venezuela in the united states of america. i mean he is not a unique, interesting figure. he is an old socialist crank who you can see see see million of on the sidewalks in new york talking to themselves rummaging through the trash cans. he is not interesting figure, it is amazing got this car. deirdre: i think he will take offense at crank part. you will probably hear from him. >> he is not my friend anyway. deirdre: ben stein, i'm glad you're our friend. glad you are here. author and economist ben stein. >> thank you. deirdre: we want to let you you know how disney and ge closed. s&p five one closed lower. if you look at nasdaq, higher. disney just quick check, we're showing you year-to-date as well. you can see ge in fact, down. disney down as well.
those are year-to-date figures. there is new leaked audio raising questions about katie couric's documentary. deceptive editing is the charge. one of the progun guests that was interviewed by couric is with us. he release the full audio of the interview. we will play you both versions when we come back. ♪ i am benedict arnold, the infamous traitor. and i know a thing or two about trading. so i trade with e*trade, where true traders trade on a trademarked trade platform that has all the... get off the computer traitor! i won't. (cannon sound) mobility is very important to me. that's why i use e*trade mobile. it's on all my mobile devices, so it suits my mobile lifestyle
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. deirdre: news anchor katie couric was the host of a documentary about gun violence, she is also the executive producer, called under the gun. some say there is an edit at a pivotal moment that proves liberal media bias. we're going to show it to you. here is couric's question. >> if there are no background checks for gun purchasers, how do you prevent felons or terrorists from purchasing a
gun? . deirdre: as you just saushg the activist seems baffled by the question and unable to answer it. now an audio recording of the interview shows otherwise. we want you to hear it so here is the audio version. >> how do you prevent felons or terrorists from walking into, say, a licensed gun dealer and purchasing a gun? >> well, one, if you're not in jail, you should have your basic rights and be able to buy a gun . deirdre: we reached out to the film's team epics, the director
indicating that she, not couric, had editorial control. the director said, quote, there is a wide range of views expressed in the film, my intention was to provide a pause for the viewers to have a moment to consider this important question before presenting the facts on americans' opinions on background checks. i never intended to make anyone look bad, and i apologize if anyone felt that way. katie couric told us she supports the director and is proud of the film. with me someone who is interviewed in the film, philip van chief. he released the edited audio version. philip, we are glad to have you here, what made you want to release the audio version. >> i saw what she did. after i put the teeth in my head that she had the temerity to do something like that, i decided that we need to let the world know because that's unacceptable.
we had responses and that film intentionally made it look like there was no answer, that we on the pro gunfight had no answer to that question, there were plenty of answers to it. deirdre: you made the decision, you watched it, you were surprised and thought this is the right thing to do. nobody else pressured to you release it? >> not at all. as the past the organization, i do quite a few things like that, if i feel comfortable, i'll take care of it. deirdre: so did the epics production team essentially know that you had your own audio copy? >> i don't know. i have no idea. they do now. >> i was going to say, have you heard from them? >> no! no. it's been very quiet. before this happened, communicate off and on with katie's second-in-command, and she asked it's coming out next week? but unfortunately an interview we did with you is all on the cutting room floor, but the group, we have some of that,
and she said let me know what you think. once i saw it, i let her know what i thought and the communication dried up after that. deirdre: so another moment of feedback, if you like, that you've had is you said you were stunned at the lack of time given to the pro gun side versus the opposition. this editing issue aside, what other ways did you think it was skewed? >> some of the questions, you could even, you don't have time to play that whole interview. we posted the entire interview with the group from one end to the other. it's a two-hour thing. one of the questions in there, this one, i was surprised the very beginning of it she says how do you keep felons -- look, i know how you're going to answer, this how do you keep felons, and she went on. it was things like this that it was clear -- >> you felt it was slanted? >> yes, on the other hand, i had no reason to think she
wouldn't be fair. if she doesn't like our point of view, i don't care, don't change my words, don't change our words as a group. present what we said. if it's something stupid, you are free to play it. don't change what we've said, that's not professional. that is against all principles of journalism, and it was harmful, i think. people definitely, including one of the reviewers that reviews movies thought again he said, well, the virginia citizens defense league didn't have an answer to a very basic question. deirdre: i've seen the "washington post" said that editing call was a fault. so you also have plenty of support philip. and we thank you for the time for telling us your story, with me there, virginia citizens defense league president. thanks, philip. >> thank you. deirdre: later this hour, we may be able to show you a rocket launch. elon musk's space transport company spacex is supposed to launch and reland the same rockets all starting in 30
minutes' time. the idea here, if the company perfects being able to reland, rockets can be reused and space travel cheaper and easier. a scathing inspector general's report shows hillary clinton violated state department e-mail policy. she is doubling down that she followed the rules. comments she made in context from a few moments ago. one of the men behind the organization suing to find out the truth under the freedom of information act is with me next. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support. with centurylink as your trusted technology partner, you're free to focus on growing your business. centurylink. your link to what's next.
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. >> how can they say it was allowed. was it an error of judgment? >> it was allowed, the rules have been clarified since i left about the practice. having said that, i have said many times it was a mistake, and if i could go back, i would do it differently. deirdre: hillary clinton is doubling down on her defense of her personal e-mail server use, this comes after the inspector general's report that shows that hillary failed to follow the rules or inform key department staff of the server. director of research and investigations for judicial watch chris farrell is with me now. chris, welcome, what do you make of hillary's response to the inspector general's report. are you shocked she's digging in deeper? >> desperate people do
desperate things. the inspector general report detected a violation of law, title 18 of the section code the mishandling of national defense information, for each and every instance it's 10 years and $10,000. she's in grave danger, it's a national security crime investigation and she's trying to do everything she can to frantically flail around and distract from that, but that ig report yesterday was very damning, and she can't get away from it. deirdre: so chris, let me ask you, i'm going play a comment from hillary clinton's spokesperson, brian fallon, he defended her decision to block the state department inspector general's request for questioning. here's that comment. >> to our mind, it made sense to prioritize the review being conducted by the justice department and so accordingly, hillary clinton has said since last august that she'll be happy to sit with them at whatever point they approach
her, which has not happened yet, and similarly encouraged aides to cooperate with the justice department review. deirdre: so what do you make of those comments? >> it's more nonsense. she and her circle around her refuse to cooperate with the inspector general, and she did so because she's in, i believe, great legal jeopardy with respect to violation of the handling of national defense information, and she's not going to make statements that can then be used against her with an fbi inquiry. she's in jeopardy so she's in damage control mode. deirdre: chris, to your point, we have judge andrew napolitano on with us often, and he said very clearly as you did that she has refused to answer questions but always said i can't wait to answer questions but her actions are very different than her words. chris farrell, we thank you, joining us from judicial watch. in 20 years, going to space
may be just as easy as getting on an airplane, that is if elon musk's space transport company spacex meets its goals. it is about to launch the fifth rocket this year. the company successfully landed two rockets in the atlantic in two months. if the launch goes off as planned, we will show it to you. in the meantime, it has been an exciting day for elon musk. one of his biggest ventures tesla soared in the market. up almost 3%, offering new public stock offering, raising a billion dollars to finance the production of the new model three. a report says clinton ally and virginia governor terry mcauliffe has extensive ties to the chinese government and a former soviet official. person with the evidence joins me next. it's true what they say. technology moves faster than ever. the all-new audi a4, with apple carplay integration.
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rocket of the year. the company aims to make traveling to and from space like flying across country. if the rocket lands in the atlantic without a hitch, it will be the third success for the company this year. we're monitoring it for you, we will bring you there as soon as it happens. clinton family friend and former campaign chairman, virginia governor terry mcauliffe is the subject of a federal investigation. alleged campaign finance violations is the topic. one wealthy chinese businessman's contribution to mcauliffe's campaign are being examined. illegal for foreign nationals to donate any money to any u.s. election. mcauliffe maintains that the chinese billionaire has a green card. a new report from the capital research center that finds mcauliffe has extensive ties to former soviet official. the question is whether he exploited the controversial connections for personal gain. with me is the chief
investigative officer steven allen. steven, welcome. how does hillary clinton's brother, anthony rodham, how is he linked to mcauliffe to the questionable russian tie? >> well, terry mcauliffe ran for governor in 2009 and successfully the second time in 2013. he was trying to burnish his credential as a businessman and didn't have business experience except he was the largest fund-raiser in history at the time for the clintons in the 90s. so he was involved in this company, green tech automotive, the ceo of the company, and this was supposedly to build these vehicles that were kind of like golf carts, that would help solve our energy problems and protect the environment. $5 million subsidy from the taxpayers in mississippi, and supposed to produce lots of jobs and didn't. he was partners in this with anthony rodham, who is hillary rodham clinton's brother, also
the exson-in-law of senator barbara boxer and the business partner and the godfather of the grandson of a former soviet georgian official who was dethroned, deposed in 2004 and fled to moscow under charges he it stolen $57 million and had murdered a deputy. so they have this business that is basically two sister companies, green tech automotive is one, also known as wm green tech automotive and gulf coast financial management, and those two companies run what is essentially a scheme to get people eb 5 visas. deirdre: which means essentially, if you come here with a certain amount of money, it's in the millions, you can stay, right? >> right.
in fact, it's lower than that. it's a million dollars generally, but if you're in a rural area, investing in a rural area or high-unemployment area it's $35,000. there are chinese who have gotten green cards, essentially bought them by doing the investments. deirdre: somebody told me there is a lot of cities, miami being one of them, almost the entire real estate market has been supported by the eb 1 visas. >> the eb 5, yes. and it's open for abuse of all sorts, including the fact that one chinese intelligence agent was among those that got into the country as a result of terry mcauliffe and anthony rodham's operation. deirdre: steve, it's a pretty complicated spiderweb, we're glad we have to you take us through the connection. steve allen, thank you very much, chief investigative officer crc. see you soon, steve.
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would have trouble meeting emergency expenses of just $400. in addition, the fed found that 22% of american workers were juggling two or more jobs. 33% of americans say they have no retirement, no pension. with me now, my power panel, conservative commentator gina louden, republican strategist mark serrano and harlen hill. the middle class is being hit hard, what does the next president have to do? >> well, everything that hillary is saying she's not going to do or everything other than what hillary thinks she is going to do. remember, this is the person who committed to destroy well-paying jobs, the coal industry, while pushing a $15-an-hour minimum wage that will invariably destroy jobs, and she knows this. and have you her pushing for free education and things like that and the stem jobs, the
science, technology, eication and math jobs, until they grant 200,000 h1-b visas to foreign workers to keep those kinds of paying jobs down. deirdre, what it comes down to is this administration and hillary's administration will be all about turning workers over to the public sector because they don't like private sector jobs. deirdre: mark, let me bring you in on this, we had an investor, marc faber saying americans are hurting this is why trump is doing well and this is why sanders is doing well, whatever you think of the politics, those are the candidates talking most about jobs. is this the most important issue for the election? >> no doubt. and deirdre, the polling, the exit polls show that repeatedly, jobs and the economy outpace all the interests for sure. look, these stats you talk about the festering wounds of obama economic policies for the past seven years.
you take a look at the numbers, additional numbers, between 2007, 2009, one sixth of all workers were laid off. today, still of those people, 14 million people are still looking for work or have settled for part-time jobs which is why our labor participation rate is so bad. deirdre: lowest since the 70s. >> this is called economic scarring that the figures show. deirdre: all right, harlan, i'm coming to you, we want to take a quick break. from the white house to a mansion, that is president obama's next move. to my next guest it rings as false, he says the president is renting while the government is pushing everybody else to buy homes even if they can't afford them.
deirdre: a trump rally expected to start in minute in montana. a police presence is expected after riots that happened earlier in the week. since the mid-60s the government has been subsidizing lending. one critic says the government pushes people to buy homes if if they can't afford them and taxpayers picked up the check for those mistakes. wells far go offering mort gainings with only 3% down. it's a decision that some say could spark the next housing crisis. what do you make of this? the overarching images. president obama getting ready to leave the white house. he's going to be renting a mansion for two years. people say the president is
renting and the government is pushing thousands of people who can't afford housing to buy. >> i wonder if we are at the bottom or top of the market. some friend find have nice houses 100% financing. this is the speculative dangerous behavior that got us into trouble 10 years ago. deir of the house the obamas will be renting the next two years until their daughter finishes high school. but this is why people tend to overextend themselves and taxpayers pick up the check. what do you think of this? >> you know, i guess i think that homeownership in general is a good thing because generally speak when people have families and a mort game and
responsibility, they tend to become more conservative and fiscally responsible. but there are dangers we have to watch. i find it particularly interesting a president who supposedly only makes $200,000 a year is getting ready to own a house is renting a house that costs upward of $30,000 a year. deirdre: it's more than 10,000 square feet. >> the president makes $450,000 a year. >> this is troubling. the standard should be higher so people who enter the marketplace for the first time have the confidence themselves that they know they can afford what they are being put into. this happened during the clinton administration when they opened the floodgates for people to
have good measure and the government has to help the people achieve the american dream. that's not how it works. you save, you earn, you get a good credit score and that's how it should stay. deirdre: thank you for the conversation. thank you for watching us on "risk and reward." "making money" with charles payne starts now. charles: after strong back-to-back sessionsages today were mixed. after the obama administration admonishes hillary clinton on her emails, many are wondering if bernie sanders will finally use it as a knockout blow in his quest to win the nomination. it costs the government $1 billion a year just to approve food stamps for people.