tv Cavuto Coast to Coast FOX Business October 5, 2017 12:00pm-2:00pm EDT
semi-automatic weapons. i'm glad we cleared that up. we hate to confuse the viewers. we have a whopping great big rally. as we speak, we're up the high of the day, 82 points up. 22,744. our time is up but neil, it is yours. neil: you're right. we have all the laws on the books, right? half the trouble, we don't enforce them. stuart: i wasn't sure of the exact terminology of the law from 1994, i didn't correct him on the air but correction was due. neil: i would never do it myself. i mean i would never correct myself. stuart: we know that. neil: thank you very much. we're following developments because we're these. stephen paddock switched rooms. he didn't end up in two ped room suite. he may have been scoping out a
suite in chicago as well. police the shooter planned to survive the latest incident. we know he did not. hillary vaughn in las vegas with latest developments. hey, hillary. reporter: neil, the police are getting a better idea how paddock prepared for this attack and if he had any other deadly plots in the works. we do now know, as you mentioned, paddock rent ad hotel room with bird's-eye view of one other major music festival in vegas called, life is beautiful. chicago police are looking into report that paddock booked another room in blackstone hotel in chicago, with bird's-eye view of a music festival happening in august, lalapalooza. we're expecting a statement from mayor rahm emanuel. sheriff lombardo says we do not know if they were dry runs on the deadly attack on sunday
night but police have evidence that paddock planned to survive after he gunned down hundreds of innocent people on festival grounds behind me. they are trying to figure out if he could have been planning more attacks. they say paddock had 50-pounds of explosive tanner right in the car at the hotel and 1600 rounds of ammo. he targeted two fuel yanks filled with jet fuel nearby the festival site. according to las vegas journal, two bullets penetrated the fuel tanks but they did not explode. police remain convinced that someone knew about the vegas shooter's plans or had an idea something was up. they also believe he had to have help. >> do you think this was all accomplished on his own, self-value, face value, you got to make the assumption he had to have some help at some point. maybe he is a super yahoo! that
was working out all this on his own, but, it would be hard for me to believe that. reporter: police are also looking for a mystery woman. they're calling a companion, that gambled with paddock the night before the attack. and also his girlfriend, marilou danley remains a person of interest following six-hour fbi interview yesterday, neil. neil: the night before this attack he was gambling with unidentified woman, so saturday night? reporter: right, they're calling her a companion, not person of interest. but they are looking for her. they do want to speak with her. neil: wow, interesting development. certainly security cams within the casino would pick that up and be able to see lots of stuff. thank you very much. back to the issue help paddock might or might not have had, fbi assistant director, ron hosco. this one 64-year-old guy lugging
a lot of stuff to the hotel room if we believe the reports switching to a different room when his original two-bedroom suite was not ready. not unusual to carry a lot of stuff room to room. usually get bellhops to help you with that. reports are he didn't. what do you make of that? >> neil, first i think the sheriff is exactly right in starting with the supposition that he had to have had help. as you know in terrorism incidents police are looking for follow-on attacks, coconspirators, aiders and abettores. that is the right starting position. that being said, i got back from vegas last night, in a major casino hotel, for me to fold up any number of ar-15s, put them in my suitcase, one or two, and drag them to my room would have not attracted any particular attention in that casino, even two, three days after this
attack. this is human beings coming and going in large numbers. certainly in las vegas where you have hundreds of hotel guests and visitors passing through. i don't think i would have attracted any particular notice, even making multiple trips with multiple bags. neil: we get all these different reports, ron, people who swear, when they were descending on the mandalay, they heard shots from other floors, even other hotels, other casinos. this sort of thing happens all the time where people will swear. i heard gunshots coming from multiple directions. so as a former fbi guy how do you go sort through that? ears can play tricks on you, but explain how that can happen. >> well, easily. i will go back to the dallas police shooting last year where the initial reports were, and, this is very common, it is more
common than it is not, where the initial reports are multiple shooters from multiple locations. in dallas, it was very evident because it was a parking structure. a lot of concrete. tall buildings. the echo of gunfire certainly will sound like it is multiple shooters. the same happened at the washington navy yard a few years ago, where the initial reports are often inaccurate. you're hearing. hearing echoes, reflect shuns of gun fire. that is not uncommon. first i want to say sheriff and law enforcement are doing a great job, getting in front of the media multiple times during the day, answer questions, tell what is known. that being said we know after any big events there will be conspiracy theories floating around. part of the sheriff's work is to defeat that i had a ride back to
the hotel the other night with a cab driver who was convinced there was a shooter in at least another location. we have to trust, depend on our law enforcement to get it right. certainly if there are rounds coming from another location, by now law enforcement would have seen from that, from trajectory, people were hit from where they were standing. it is important for the sheriff to make repeated appearances to tell us what is true. neil: but you're saying just to be clear, ron, given the amount of weaponry, the sophistication of that weaponry, whether he was firing shots alone, that he had to have had help just assimilating gathering all of this stuff? i don't want to misrepresent what you said? >> no, i think there is a great possibility he went out and acquired these weapons himself and brought the weapons to the
room for a period of time. he was in the room for several days. how hard would it be to bring in five ar-15s collapsed in a suitcase, ones or twice a day? neil: they're talking about he might not have done this alone, they're talking about the act itself then. are you? >> yeah, i'm talking about the act itself. going from window to window, firing a fully auto, a bump stock automatic weapon, dumping 30 rounds, 60 rounds from one gun, setting it down. neil that is act, 1:30 round magazine is an act that might take 20 seconds. go to the other window. fire the weapon. he did that for five minutes, using 18 or 19 guns. the guns would not be that overheated during that period of time. one person with basic familiarity with a ar-15 could do that fairly easily.
but they should look for coconspirators. >> i want to be clear. i'm a little slow but i thought that that is what i thought you said. peter cokonis joins us now. of the a lot of focus on the city, whether the assailant plotted something similar a month ago, six weeks ago in chicago. what do you think about so-called practice runs, attempted runs to do the same thing? >> if he would have been at the blackstone hotel across the way from where the lapalooza was, you have 80, 90,000 people, it takes entire grant park, if not more, this guy would have had a field day, a field day. he could have killed many more unfortunately than happened in las vegas. neil: why is that the larger
number? is that a larger crowd in chick for this? >> oh, yeah. we have festival that has 300, 400,000 people for the weekend. it is huge. he would have had, he is not aiming at anything. he is just firing indiscrimminantly. he could fire 30 round, five or six rounds from the guns. he was smart enough to know the guns would overheat. he had numerous amount of guns. is he in a hotel, which is one of the hardest things to stop. neil: let me ask you about height advantage he had. a lot of marksmen, sniper expert, snipers themselves told me, neil, when you're that high up, you can make up for not being a great sniper because, the height gives you a drink advantage. >> right. neil: maybe paddock enjoyed because of that. what do you think? >> right, i agree.
a trained sniper, you have to allow for wind. you have to allow for gravity and allow for turning of the earth, for these long shots but this guy, he is firing down, so the bullets are going to fall with gravity. he just has to aim in the general direction and he is just going to hit somebody. i mean he had bump stocks which, you know, which we've now heard make it fully automatic. but you can go on internet to make a silencer out of an oil filter. there are too many things people are able to get. he disassembles the guns, brings them into the hotel, over three-day period. nobody would ever know. doesn't let anybody in the room. thank god for this hotel security guard. neil: now in chicago would there be any difference in the security that might or might not have picked up on what he was doing, how much lug an he was taking back to his room --
luggage, multiple trips or the same thing? >> people just, the door men, people at the hotel, security at hotels would make no notice, you have literally 1000 people coming in and out of a hotel. in mandalay bay, there had to be thousands and thousands of people coming in and out. you wouldn't even draw notice of this guy. he was just a non-assuming-looking guy. whether he had assistance -- neil: something in chicago, what do you think made him drop it? >> well, he would have had to drive here and bring the guns in a car, because he couldn't put them on an airplane. neil: that's true. >> he will come to las vegas, come to chicago, how is he going to get those weapons here? once the weapons are, you to -- care how you go through security, they will flag you having a weapon. neil: that is very obvious point. peter, thank you very much.
good see you. >> thank you, sir. neil: chicago mayor rahm emanuel might spell out what authorities learned from this, indications seem to be. neil: i stress seem to be, stephen paddock was planning an attack much like he pulled off in las vegas in chicago two months earlier. different venue. same people at an outdoor concert event. this for pop music than country music. a lot more people he could have picked off there. obviously he made changed his mine, made las vegas and country music festival the locale and the target. what happened, why it happened and what was going through his head? still so much we don't know after this.
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neil: all right, we're up in record territory yet again, paving the way for the latest increase might be the house approving what would be a tentative budget, a blueprint, would allow the tax cuts. senate has to do the same. remember you need that budget, you need that blueprint if you will to have so-called reconciliation to move forward where it take as simple majority in the senate. you need this done and house paving way presumably for the senate. sets the stage for that. this guy couldn't be happier,
former reagan economic advisor art laffer. it looks like it greases the skids but is it a slam dunk? where is this going? >> i am rely very excited. i wish the tax rate was 15, not 20, but a lot of things in the bill make it a good bill for stimulating economic growth. i think it will pass. it may not pass this year but the chance of it passing this year getting larger and larger. it is really needed. it will get the economy going the you will see all sorts of good policies following suit. neil: not surprisingly, you predicted this, there will be philosophical debate, cutting taxes for the well to do, which is still in doubt. there is talk of a fourth tax rate for the well to do, but "the new york times" and others compiling on you of all, people. >> how dare they do that. neil: where they said there is no proof that the cattism gets any less wide giving tax cuts to
the rich. in fact, it worsens the situation, and that that great idea thaw sketched out on a napkin at a diner so many decades ago, you know, set loose this fiction. what do you say. >> it was not started as a napkin in a diner, as you know. it was math and descriptions of modeling of economy. neil: there was a napkin involved somewhere? >> that was to describe -- neil: i know. >> i love it, they have their nickers in a twist. they're worried we're making progress. they are worried we will win because they are right, we will win. anyone, what type of iq does a person have to have to think taxes don't matter? if you tax people who work, pay people who don't work what does, writer for "the new york times" think will happen? neil: under bill clinton, you're quite right under bill clinton investments rates went down, markedly down, top rate went up.
but that environment things were good. what do you say. >> i voted for bill clinton twice. neil: you did. >> you pointed that out. the reason i voted for that twice because he was big tax cutter. there were a couple of taxes he raised. there were a couple that reagan raised too. the preponderance what clinton did was cut taxes. he cut government spending as share of gdp more than the four next peacetime presidents combined. he had the biggest capital-gains tax rate cut in nation's history. he got rid of retirement test on social security. he added welfare reform. all of these were wonderful. yes, he raised two highest tax brackets, yes. i wish he hadn't done that, i do but that wasn't enough to negate all the great stuff he did. neil: we forget that welfare to work and all that. but leaving that aside, i knew i would get you worked up. >> i love it. i just love it. neil: pick apart what they're picking apart right now. rand paul was quoted as saying if anyone's taxes in middle class going up i'm out, i'm not
supporting. i'm betting, i could be wrong here, art, he will not support the final tax package. i'm betting it's a good possibility john mccain will join him. so, i'm betting that the president's going to need a number of democrats, he might have them, to make up for that. he is going to need that won't he? >> you may be right. i really hope john mccain and rand paul don't do that but you know, they're their own people and they can do whatever they want and i think it is very bad vote record for them to do that but i think there are a lot of democrats who will vote for it. a lot of them like it. now question is whether they can cross that sort of political sort of hack line -- neil: to make that happen, art, the president seems to be, this could be my surmising, the president seems to entertain a fourth rate they're kicking around, make sure the rich don't, in their view get away with a big ol' tax cut if that is so horrendous. what do you make of that, the fact that republicans seem to
run on defense on this? they want a tax cut. they don't want to deem to caving to the monopoly guy, know what i'm saying? >> the president is taking the lead on this. amazing how he is taking the lead. i'm very pleased. when we did the tax cut in the 1980s, jack kemp and president took the lead. a lot of republicans don't believe in tax cuts. they believe in static revenue neutrality. they are not our allies. they are not ones we should be there with. but the democrats like claire mccaskill, how will she vote? heitkamp? what about this guy donaldson going to do? joe manchin of indiana. neil: donnelly. >> i said donnelly. neil: your view better some tax cut, no tax cut. could live with 15%. 20% would be a big drop. largely small business rate would hold, you hope. >> yeah. neil: is that enough to goose
the economy? >> it will surely help it. we have a goosed economy. deregulation president done with executive orders. no longer having obama kicking the economy every day of the week improved the economist. all these things are happening, this will give it a little whack to have it going faster. once this economy starts, neil, i hate -- once it is starts it is really hard to stop. growth rates of 4%, 5% for a period of time are not out of the question. under reagan and kennedy, growth rates were in the seven to 8% range for a year. this is really possible stuff. once it goes, everyone will want to climb on board. there is nothing more fun than a bull market and a good growth economy where americans like each other, rather than hate each other. i mean it gets rid of all these peripheral and side problems. it is really fun being in a bull economist. as you pointed out the stock market, up, 5 trillion, did you say? neil: it is a lot. >> a trillion dollars, a
trillion here, trillion there -- neil: you're talking serious dough. you're a big deal, decades after the famous pow wow they're still quoting you. >> are you surprised? what is matter with you, neil? i thought we were buds from '77? is it elder abuse going after me if i'm 77. they say all nasty things. neil: by the way you don't look a day over 75. >> thank you, neil. neil: art, thank you very, very much. >> you're the best, neil. thank you. neil: they still throw arrows at him. he still comes back stronger than ever. couple of things. we're honoring the las vegas press conference, they're getting more details on the shooter. expecting more details coming out of chicago where maybe, maybe there was something in the works there that, if the shooter didn't have this festival a week ago to go to, he was pondering another one in chicago just six weeks earlier. more after this.
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neil: so far so good for the budget passed. that may sound like gobbledygook that sets the stage for the senate to pass tax cuts which republicans insist can be done by the end of this year. adam shapiro for the latest. hey adam. reporter: to quote bill clinton this, is the first step but depends what your deaf is of is is. what the -- definition of is is. the senate committee will mark up the budget resolution. it will pass and come together to get a final budget resolution. things slow down in the senate. doesn't hold your breath but they are working toward it. what happened in the house is crucial. it is a $4.1 trillion spending plan, which cuts about five trillion in spending. here is what speaker ryan said was important about getting this passed to get tax reform but what the democrat ranking member
of the budget committee in the house why they should stop it. >> it paves the way for historic tax reform. it unlocks the reconciliation process. we need to pass this budget so we can deliver real relief for middle income families across this country. >> this is moving the ball forward so we can push through a massive tax cut to the wealthiest americans with 51 votes in the senate. that is what this day is about. that is what this process is about. reporter: neil to wrap this up, senate budget committee goes through the markup, what passed the house today, consider it like this. they made an apple pie but the senate will probably return a peach cake to them. it will be much different. neil: i like both. i don't know about you, adam. thank you very much, my friend. adam shapiro in washington. so this blueprint doesn't speed up tax cuts. a lot depends on the senate.
to wyoming republican senator, john barrasso. very good to have you. how does this look? >> it looks very good. the senate is marking up the bill right now. my colleague mike enzi shareses that committee. speaker ryan is right. this is the path to tax relief to, tax reductions, so a stronger, healthier economy and kind of economic growth american people haven't seen for the last eight years under the obama administration, we need to get back to over 3% economic growth. this is the way to do it. neil: all right. the one thing at that comes up in order to get right votes, senate is dicier position, because there are fewer of you, you will have to make allowances to bring democrats on board. they're not key all rich getting down to the 35% tax rate, so maybe a fourth rate closer to the one we already have, 39.6, how do you feel about that? >> i would love to do this in
bipartisan way. the kind of objections we're hearing from the democrats is entirely predictable. the american people know we need tax relief. they deserve it. they want more take-home pay in their own pockets. so what we're proposing doubling the standard deduction. people find that very popular. it matters a lot to them fewer tax brackets from seven to three. neil: what if it is four, senator, not three but four? still fewer than we had going on? >> more people in the 0% bracket that sort past it. we need to lower tax rates for businesses an american families. that is helpful to stimulate the economy and people have higher wages. neil: sorry to rush you on that, sounds like you are flexible on this, fourth rate, above the 35%
rate? it wouldn't be peachy keen, but you could deal with that as part of closing the deal? >> we want to make sure we get the budget passed, tax reform done. to get the economy growing, we need prosperity that american people are expecting one, and are demanding of us. i'm ready to vote to do that, sir, i would be remiss to washington rumors he rejected an offer to be the next health and human services secretary. that you didn't want anything to do with it. is that true? >> greatest honor of my life represent people of wyoming in the united states senate. i want to continue to do that. there are lots of capable people who can run health and human services. i can do the most to help president trump to help conservatives in the senate. neil: they did ask you and turned them down? >> i visited with members of the white house team by phone and, let's leave it the that. neil: that is position you relayed to them you're quite happy in the united states senate? >> i think i can do the best to help president trump and his
agenda in the senate. neil: it had nothing to do with president's often contentious relationship with his cabinet. >> i think i can help the people of wyoming and the president with our conserve views for america right here in the senate. neil: i told you i would be noxious, senator. get your take what is going on. 6th consecutive street of winning days, record likes we've not seen since 2013. again all i think, built on expectations i could be fairly wrong senator, rarely am, i think expect takes you will get the tax thing done by the end of the year. what do you think? >> i believe we will get this done by end of the year. i think there are expectations priced in. i will tell you, neil. you remember this, i think your viewers will too. i had a chance to meet with sir john templeton of the templeton funds. his daughter ann was surgeon worked with me in wyoming.
people have to hold the wealth in something. you can not hold it in nothing. around the world people still have the faith and confidence in the united states of america and money continues to move into our economy and into our stock market. neil: yeah, you don't mess with him because his name starts with a irs. quickly, bump stocks, the devices allow semiautomatic weapon to mimic an automatic one. some of your republican colleagues are open to stop sales of these devices used by stephen paddock used in the las vegas shooting. where do you stand on that? >> obviously still hearts and thoughts of people in this country are out to those involved in las vegas. with regard to this specific device i don't think many of us, strong second amendments advocates, people have a lost guns were even aware of these -- they were approved by the obama administration. i think that both, through their atf. atf will look at it. the senate will look at it.
we'll see where we go from here. neil: senator, thank you very much. good seeing you again. >> thanks for having me, neil. neil: a couple things we're following. a lot of press conferences doing with the one guy, stephen paddock, the shooter behind the attack in las vegas last sunday that killed 58 people, 59 if you include gunman himself, injuring over 500. police are talking about that. he might have had accomplices, what they are recovering from videotape and separately, mayor rahm emanuel in chicago will brief reporters shortly, what they discovered about the attacker's plans to do the same in chicago little more than six weeks prior. let's listen in. >> fire department, local community, local businesses, corporate community residents, participants, and of course our volunteers. for all of you that have played a role in the success over the 40 years, we thank you, we're
looking forward to a great day, and a lot of excitement. after months of training, runners of all abilities from all walks of life have come from across the country and around the world and will continue -- neil: obviously i thought he would introduce rahm emanuel. i'm wrong. when he does, he comes there we'll let you know but the gist is this. that paddock might have set his sights originally on lalapalooza event to be held in chicago in early august, i believe. that would have generated far bigger crowds over the course of the three-day festival, pop music and like, not so much country music, would have four times the number that showed up in three-day period in las vegas for this country music festival. he scoped out the scene. checked it out. might have been the case it was too far to drive with all the weapons he had but hard to say. officials should know very soon or spell out what they know. this much we know, there is a
neil: so much we still don't know. like the shooter, why he would bring 23 high-powered guns into his hotel room, hide it from folks. nobody apparently noticed. would keep a do not disturb sign on the door. couple times he got room service, there was couple occasions he took it himself from outside the hallway. metropolitan services ceo derek parks. several things we could raise your eyebrows, derrick, but at the time no one did. what do you look for. obviously the latest revelations security cams in the casino itself, not a surprise, he was gambling with her, at same table, whatever, but the cameras will tell stories.
room service coming to his room, right? >> absolutely. unique thing about this scenario, the fact that this subject, did nothing unusual about his stay. he came into a hotel. had luggage. he came in a company of a young lady, ordered room service. he stayed a few days. so nothing really, that, no actions that he did was suspicious or would have drawn any level of attention that security officials or police officers would have really thought to investigate. neil: derrick, what is policy here in a hotel or casino, maybe, it is different. maybe the same, where after few days if you see a do not disturb or privacy sign outside of a door, you worry we have to check in anyway, because the person could be dead inside? neil: sure. >> at what point does it alert a hotel, maybe disrupted about request of room service, he
complained someone below him playing music too loud, maybe that settled issue of someone in there alive, but what is the rule of thumb security people at hotel, casino, anywhere would put on such an event? >> well, each hotel and, and, casino have their own policies about, you know, how often do they want to disturb room service. usually up to housekeeping and security to work in tandem to figure out, figure out which room to investigate any event rises to levels of suspicion. almost like you said, he ordered room service. >> right. >> he also made a complaint about someone having loud music. wasn't like maybe this guy is dead in the room or unusual circumstances. a lot of times people may take a room and get r&r, away from the world, just to relax for couple days at a time. so again, he, wasn't like he was in a room for a week and there
was absolutely no movement. neil: right. >> there was no phone calls or no activity. i mean he left his room. he came back. he ordered room service. he did a lot of things -- neil: this latest revelation it your point he was down in the casino in company of this woman. we don't know many details of that but you're quite right, he got around. they're privy to stuff we don't know, certainly i don't know, they looked at security cameras and probably looked at his own he set up in a room. that is a little alarming here. what do you think he was doing, with all the cameras, besides ones trained at door? i can weirdly understand but we're told he had cameras on the crowd outside, on himself? i don't know if it is true but a lot of cameras. what do you make of that? >> from what i gathered everything they found out so far about the suspect, the fact he did a lot of surveillance or a lot of recon, on what event he
wanted to attack and how he wanted to go about it. even going over, from what i understand, escape routes. i believe he was looking at maximum time he could probably inflict the maximum amount of casualties with the cameras, just monitoring crowd sizes. maybe, looking at egress ways for some victims, figuring out when would be the most plausible time to mount his attack. neil: how would he conceive possibility of escaping? i understand if you have 10 to 12 minutes of shooting, there was still another hour after that before they got to him, or he get to himself about they got to him. >> sure. neil: they were being very, very careful. they didn't know if he had a bomb. shooting had been stopped for an hour. >> right. neil: many talked about his planned escape route. what would it have been? >> you know, really hard to fathom what his actual escape route would have been, how successful he would have been
even executing it. he was in a hotel. i'm imagining that he probably would have suspected they would have took them quite a bit of time to find his location, but i really don't know. he did shoot and did sustained shooting for almost 15 minutes. and it didn't look like he really had an intent to kind of evacuate the, the building immediately or maybe they was able to find him prior to him thinking he was ready to leave. i'm not sure what his total plan was, how he was planning on to escape. neil: meantime, real quickly, a lot of hotels, casinos, not only vegas, pretty much everywhere rethinking whether they should check luggage of those that come in, magnetometers, whatever it takes, obviously increase wait time for those checking in but what do you think of that? >> well this is, this is going to be a really hard thing to
fathom, if you can almost contemplate every hotel checking through luggage, just checking people in? at a minimum, somewhere like las vegas, thousands and thousands of people occupy one hotel at a time. i think they're just going to have to really kind of, unless they set it up like tsa, really rethink how they're going to, how they're going to probably set up security measures against this kind of act in the future. neil: yeah, easier said than done. okay, derrick parks, metropolitan protective services. i appreciate it. >> thank you very much, neil. neil: couple things we're getting right now from mayor rahm emanuel presser going on in chicago. that officials triple-checked a lot of threats that they believed could have been posed by the vegas shooter who apparently had set his sights on city of chicago and lala -- la
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neil: all right. get used to this. tropical storm nate forming in the caribbean. exxon evacuating staff from the u.s. gulf platforms ahead of the storm. we have a trader at cme. is this something we should worry about, larry, what do you think? >> hard to know. i worry about everything. it is such an outlyer. hey, we've had 14 storms, third quarter of 2017, shaping up to be the costliest to the property and casualty insurers, like, about $100 billion. so right now, it doesn't seem to be a big deal, but, i wouldn't fade it. i also look at citrus markets, cotton markets, are both up a dollar each. so, yeah, by the weekend, we'll see what happens. but when you consider the fact that 20% of production and 25% of refinement comes from that gulf coast region, we do have reason to be worried. neil: sometimes they bid up the prices as soon as they hear it might be in the neighborhood of
the gulf. then they may readjust later. what do they do in this case? what are you seeing early on? >> well early on what i'm seeing, at least in the crude market, the market's up but i think a loot is due to the news overnight with saudi arabia and opec talking about continuing their deal for production. we had a real good eia report last night. the highlight was 1.9 million barrels a day are being exported. no wonder crude is up. gasoline a different story. the report last night was bearish but gas is up. people are taking cover. when the hurricane first hit, short-covering was expensive for lot of people. neil: larry, thank you very much. >> you're welcome. neil: that is the core price of just the gas. a lot say we're not paying that where i am. taxes are rolled into that, fees are rolled into that. that is the pure price we show before they tax you to death!
facebook, twitter, agreeing to testify in front of the senate intelligence panel on worries. deirdre bolton with much more. deirdre, it will be a busy time. reporter: it certainly is. congress wants more information. tech companies hesitant to give it, neil. november 1st senate intelligence committee wants top execs from facebook, google, twitter, to show up and testify. yesterday senator warren saying the initial briefing to the senate intelligence committee was quote, unquote, inadequate. the senate intelligence committee accepts the idea that russian actors used automated ad platforms in facebook's case to run 3,000 ads designed to sow discord into our presidential elections. over the summer, ceo facebook, mark zuckerberg, downplaying the idea that foreign countries used his company to sow discord. now zuckerberg changed his tune
and hired one this employees to serve as news editors. the question whether facebook will share russian-created ads with the public. so far the answer is know. instead facebook released a long list of changes to its political ad-buying systems which it says is sufficient self-regulation. we assume it does not want government regulation. congress still pushing, wants the american public to see these ads. we'll see if we get more information on november 1st, or not. one thing to note, facebook is scheduled to release its earnings on november 1st. maybe its execs will be too busy that day doing earnings to show up in d.c.? we'll see neil. back to you. neil: we'll see if they're saints. we'll have more aftern' this. they're affordable and fast... maybe "too affordable and fast." what if... "people" aren't buying these books online,
. neil: all right. they're still searching for a motive. why stephen paddock did it, and the growing realization, he seriously thought he was going to get out of there. a car filled with ammonium nitrate. 1600 rounds of ammunition that will explode and detonate. he had a lot of stuff that indicated he was planning to use it somewhere else. there was going to be life after this particular attack. so police are looking into whether he might have scouted out other locales, the interest in chicago, more on that in a second. they're looking into the presence of the mystery woman who was apparently seen in paddock's company on surveillance cams, i think on
the casino itself, the night before. to jeff flock following all of the fast moving developments. jeff? reporter: a whole bunch of them there,ny. none of them takes us closer to motive at this point. but, yes as you point out, in addition to having stuff in the car that potentially could have been used in future attacks, provided he got away, there were the cameras he placed out in the hallway to see if the coast was clear, that's what authorities are theororizing, to see if the coast was clear to get away, get down to the car and move on. and then, reports, we talked about the kind of deep premeditation that took place for this attack. well, i don't know if the other reports go to that or he planned attacks elsewhere as well. but in chicago, he booked a room overlooking the lollapalooza festival, attended by 400,000 people in grant park in chicago. he apparently surveyed boston
as well, with a hotel that overlooked fenway park. this level of premeditation is something that goes beyond anything that we thought before, and as i said, i think the bottom line neil is at this point, we still don't have any solid, clear motive. the interview yesterday with his girlfriend didn't take us anywhere. nobody seems to have been a friend of his out there. didn't have children, he is a connectionless fellow, and they're trying to find the connections but they don't seem to be there at the moment. neil: by now, we would have social media hint of what he was saying and ranting about. no indication of that, unless it's kept tight as a drum, you know? reporter: yeah, yeah, yeah, totally, yeah. neil: i don't know. buddy, thank you very, very much. jeff flock in las vegas. speaking of which, i talked to robin leech how his city has changed, particularly when it comes to outdoor events. look at this. what's the latest there in how
it's affecting the mood? forget about making casinos, going through luggage and magnetometers and all of that? >> you know, neil, it's far too early to be coming up with hard and concrete plans, but i don't think you're going to see another concert in those festival grounds. i don't think you're going to see live events happening on the strip. this whole business of tall buildings that face openly onto large public gatherings. not just here in las vegas by, the way, but other cities across america. this is a flaw in security. neil: a flaw in security. the cleveland police patrolman steve loomis on whether the type of outdoor venues are soft targets and risky as a result. what do you think, steve?
>> i respectfully disagree. these events are soft targets, but i don't think the american people are going to live in fear and i think the concerts are and should continue in these large events here in cleveland. we have the playoff game. are we going to cancel the playoff games because it's a large gathering of people? absolutely not. neil: people are screened thoroughly going into the stadium, right? >> it's not going into the stadium, there's all those people around the stadium as well. neil: yeah yeah. >> i think that we need to take a step back. wait for the investigation to be completed and then we're going to look very carefully at the lessons to be learned, and there are lessons that are going to come out of this, and you know, overwatches maybe, increased security at high ground. we practice that here in the major cities already. fast alert teams that are standing by ready to go at a
moment's notice. those are things that are already in place, but i don't think the american people are going to allow themselves to be living in fear, and they'll go to the concerts and continue to go to the concerts. neil: you know what i worry about, steve, it's an understandable reaction, but it tends to be an overreaction. i remember with the shoe bomber, soon after that, everyone had to take off shoes. anyone had a liquid, you had to monitor how many liquids on board. a laptop and questioned electronic devices and on and on we go. i understand the impetus behind this and to rein it in, but that is until the next attack that has another creative wrinkle to it. there's only so much can you do, right? >> yeah, you can't plan for crazy. you can't defend against crazy. that's exactly what we're dealing with here in orlando and other places, other tragedies we've had in the country and across the world. you can't plan for that.
what you can do is you can get the best intelligence network going as possible and stop it before it occurs. certainly if you're just joe blow citizen and you see something that's odd to you, report it, and i guarantee the local police are going to get it to the right people, and it will be investigated. see something, say something. that applies here. and then we train and train to respond very, very rapidly to these things. that's exactly what happened in las vegas. an 11 or 12-minute response time, giving the magnitude of the size of the building and the size of the area was just miraculous that they responded. neil: no, i understand that. but he was shooting for 11 to 12 minutes too and did the damage, and an hour before they got -- believe me i'm not protecting the crazy and the world of the unknown, he did a lot of damage in the 10 to 12
minutes. he kept going forward. what is your advice to hotels, casinos, us as patrons. i know in new york they always say see something, say something, and i like to add in this city, almost anything i see would warrant saying something. what's your advice? >> well, you know, i think it's important to point out that he stopped fighting and took his own life because he knew that the security guards and the police were very, very close proximity. neil: right, right. >> he could have kept going for much longer amount of time if nobody came down that hallway. my advice is look for abnormalities. look for, you know, somebody is carrying in 12 pieces of luggage for a weekend? that's something that needs to be looked at and flagged. neil: but he did it in waves, we're told, so it wouldn't be as obvious, i guess. >> say again? neil: he did it in waves, he
made multiple trips. >> yeah, yeah, that's exactly what i mean. you cannot defend against crazy, and the citizens of this country are not going to respond well to metal detectors and being patted down before they go on vacation to a hotel. we have to do our due diligence with the intelligence gathering and dissemination across federal, state and local law enforcement gathering agencies and the local police, and keep in mind, it's usually the patrol guy that is the first guy on-scene. we have s.w.a.t. units, highly trained police officers in every major city in the country, but usually the first responder, the basic patrol guy, that has to deal with the situation, and they're trained to think on their feet and react very, very quickly, and in all these cases, orlando, that was basic patrol guys that went up and provided pressure
against that active shooter that allowed them to get him to draw their attention away from what he was doing to possibly saving his own life or take his own life in this case. neil: they didn't wait for s.w.a.t. in that case. >> no, they don't wait for s.w.a.t. we're trained not to anymore. just for this purpose. if you have to wait for a s.w.a.t. team to mount up, to get their equipment on and get to where they need to be, that could be 15 to 20 minutes here in cleveland. and a good case scenario. neil: don't have that time. >> you don't have that amount of time and the men and women of police departments are out there. i guarantee you ever first responder that heard the shots was thinking of a way to either protect people, help injured people or get that guy to stop shooting. i guarantee you that. and that's exactly what they did. they got up there very quickly and saved countless lives. neil: man, oh, man, could have been a lot worse.
steve loomis, cleveland police patrolman's association. thank you very much. i want to review what they're trying to look at here the notion that paddock was armed to the t. not only the weapons to the hotel room and more, various homes in the arizona area, but car was filled with ammonium nitrate. 1600 rounds of ammunition, lot of cases of explosive that detonates when it's shot at. that was just sort of some of the stuff he had. so clearly his intention was not to end in that hotel room. what else was he planning? what else were they looking at. former nypd detective gill alba on all of that. good to see you. >> thanks for having me. neil: what do you make of that? he obviously seemed to think he was going to get out. we don't have escape route, how he was plotting to escape. we know after the shooting, he had an hour before they stormed the door and he killed himself,
but in that period, it's safe to see he was looking for an out. what do you think he was cooking up? >> he has a history, chicago looking at the other places, a month before that in las vegas. one good thing about him, he's so comfortable going to las vegas and doing his stuff because he had been there all the time. that's why you don't notice him. he walks around casually, and i think he thought he could just walk out of the hotel room and walk out as a normal person. neil: interesting. >> because he's so comfortable with everything. bringing up ten bags, nobody spotted him. neil: a lot of people bring a lot of luggage and camera crews go there. people with conventions, put on shows and what have you. have a lot of stuff. now they're going to be more closely scrutinizing that stuff. how do you feel about that? >> because he brought up 10 and nobody stopped him and nobody cares, he thought he was safe. i'm pretty sure he thought he could get out thereof with the
ammunition and explosives and all that, i'm sure he was planning other things. and here he did the most damage. everybody was blocked in. so if you go to central park or someplace else, people can scatter all over the place. here nobody can move. i think he thought of everything at this point. just how long did it take for him to think of all this. a few years to develop this. neil: when you hear his brother said something to the effect, he snapped, clearly. but he might have. i'm no psychiatrist or psychologist here, but not to the point he didn't plan this all quite meticulously. so how does it fit the snap profile? >> it doesn't fit it at all. you know, this is years of planning and what in his head. he's hiding. nobody knows him. nothing had come out on him. neil: it wasn't just the aerial attack, he was obviously planning other stuff. >> wasn't he in chicago and looking other places? i think he's planned this for a period of time.
neil: what about the stuff found in his car? >> explosives, i think he wanted to do as much damage as he possibly could, and he could hide in plain sight because right now, who the heck is he? why did he do this? we don't know that yet, that's why we're trying to find other people say give us something. neil: if he was looking at the lollapalooza, it wasn't a beef against country music, it was just a crowdcentric thing, he was going for crowds? >> i don't think he picked on individuals because las vegas had a rap show before that, and he couldn't get into that. neil: people were trying to assign political motives and going after a certain crowd. doesn't fit that pattern. >> the way he was packing up guns and everything else, he was doing as much damage as possible and make a name for himself, and i think that's another reason. who am i? now you know who i am. he had to have a lot of hate and anger and supersociopath to
do something like that. neil: obviously between security cams at the hotel, the casino, cameras everywhere, i bet you authorities there have a good record where he was, what he was doing, how long he was doing it, even in the casino the night before with the unidentified woman, they're already piecing together stuff. >> they are, you see how hard and how long it takes for this guy? nobody knows. neil: no social media record that we know of. >> right. neil: or one that's leaked out. we would know if something had. >> neighbors where he lived. saw him once in a while. when he gambled, he gambled on machines. neil: video poker. >> yeah, it was a whole different thing. what do we been him today? why did he do this? the reason we want to know why he did this is future reference. what can we do to stop something like this, you know how long and horrible this was. my thoughts and prayers go out to all the families and the victims, the first responders and especially the heroes. neil: first thing you worry
about is copycats. >> that's another thing, yankee stadium is packed and pretty good. everybody feels good. the first thing you have, everybody has to be involved. you can't go even as tourists or something, everybody has to be involved. don't let your guard down. neil: be cognizant and aware. >> be aware of everything that's going on. neil: good advice. gil alba, former nypd detective. knows his stuff. learning stuff when it comes to budgets and proceed with tax cuts. the house paving the way for the senate, presumably paving the way to get tax cuts done maybe by the end of the year, maybe why the dow is up into record territory yet again, and a streak we've not seen in the better part of four years. after this. who knew that phones would start doing everything?
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. >> you know the russians are still at it. russian hackers stealing nsa data on u.s. cyberdefense. removing classified material and put it on home computer. it could be among the most significant security breaches in recent years, you think? all of this at a time when the house is trying to move on with more immediate financial matters like a budget. this is going to get on senate where they're also working on setting aside money for tax cuts, i believe in the senate,
about 1.5 trillion over ten years. already the numbers coming out of the white house are more than that. back and forth, back and forth, back and forth, former minnesota governor tim pawlenty says it is important because republicans very control of washington hangs in the balance. governor, very good to have you. >> good to be with you, neil. neil: let's say they don't get this done till next year. still a problem or no? >> i think as long as they get it done within a reasonable amount of time before the 2018 elections, politically that will be fine. obviously, the sooner the better. country needs more economic growth, anemic gdp rate, we need tax simplification and middle-income americans need money in the pockets and a bill like this would accomplish all those objectives. >> i get the impression governor lot of republicansor defense over whether the tax cut thing is fair, so they're cooking up the possibility of a
fourth tax rate to go make sure that the upper income don't get a total free ride, that the democrats view it as that. so don't make it 35%, maybe close to what it is now, 39.6%. how do you feel about that? >> well, i would prefer that we have three rates and reductions on each level of rate, and what they had proposed would accomplish. that but as a matter of real politique keep a higher rate on higher income. this is a once in a generation opportunity, political holy grail for republicans for the last decade, and if they don't get it done particularly on the heels of the failure of repealing and replacing obamacare, they have heck to pay within their own party into the 2018 elections, that's why i'm confident they'll get something done and the details will be worked out. something significant will be done. neil: that was the same argument with getting the health care repeal done, there
were a few senators who didn't agree, and i'm hearing from rand paul, of course, indicating that if there's any hike in anyone's tax in the middle class, it's a no for him, and i would imagine, i'm predicting, just me, governor, that john mccain would be of the same mind. so then you get back to having to win over democrats. how doable is that? >> i would not presume that john mccain or any particular member doesn't support a tax bill in the end, so i think it's premature to go there. but the idea of getting some democrats is probably speculative unless you look at the democrats up for re-election in red states and running as democrats. so you think indiana, north dakota, wyoming, there's a reason the white house has been courting the democrats. there's an outside chance that a few of them could come on board. neil: you could realistically try to twist and that might make up for the one or two republicans you lose.
>> that's right. neil: if you had to forecast whether they're going to have to scale back the size and scope of the tax cuts to get it done, could you live with that? >> yeah, you know, at the margins, you don't want to be pennywise and pound foolish, if they get three quarters of a loaf as opposed to two-thirds of a loaf, it is a great talking point but isn't great for the country. some adjustments could be a matter of order if that's what it takes. >> any thoughts on how the president should handle, this governor? >> in order to pass this kind of epic reform, once in a generation reform, you need the president to use the bully pulpit to be promoting why this should happen. why it should happen, neil, is we have a country economically anemic as measured by the gdp growth. we need more people to complete taxes on one or two pages, a big post card as they like to say and focus on the middle
class, that's an important part of. this if it's sold or bought as giveaways to wealthy people, that's not going to go well. >> i think you are right about that. governor, thank you so much. >> all right, thank you. neil: tropical storm right now could be a hurricane later, all we know is that nate is causing a heck of a dustoff in the futures market as it gains steam in the caribbean. so much we don't know. this much we do. there's another storm coming. after this. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone
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it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. . neil: all right, we got another storm to tell you about. nate. and it is forms in the caribbean right now but could threaten the gulf coast, and we've got the weather company senior meteorologist sam leonard on that likely path. what do you think, dan? >> yeah, here we go again, neil. right? this is just amazing this season, i'll tell you what. but right now, nate is over land, northeast nicaragua and
track takes it offshore of landfall. so i think the good news here is that depending on where the track goes, i think it's going to track over the yucatan as well, that will keep it from intensifying rapidly. i don't think we're going to have the explosive development we have with harvey when it moved over the southwestern gulf of mexico and texas. the proximity once it moves over land and the yucatan peninsula, we're talking landfall sometime on saturday, louisiana, texas, somewhere in the strong tropical storm to category 1 level of a storm. neil: so as far as something like we've seen with maria or irma or harvey, nothing like that? >> no, and right so far, obviously, there's a lot of high-octane water and a lot can change rapidly. remember how fast harvey blew up before it came onshore in texas? that's always a possibility.
difference this time around is water temps are a little cooler, little later in the season, and also the forward speed of the storm is a lot more than, say, harvey was. harvey took two days to come onshore to texas and nate is only going to take one day. that's not enough time to get going. worst-case scenario is cat 1 into louisiana. neil: dan leonard, weather company senior meteorologist. good seeing. >> you too. neil: talk about an area buffeted by storms, puerto rico and looking at a financial disaster. certainly investors are, bond holders hold upwards of $74 billion worth of debt to puerto rico. charlie gasparino was the first to report it and now looking more likely. where do we stand with this? >> should point out that puerto rico was in dire financial straits long before this. this has been a slow burn. i remember when i was at brand
x business network across the river, what is the place? neil: cnbc! >> yeah, in 2006, reporting how puerto rico was budget was a mess and could be an issue, it was a slow burn, and fast-forward, four years ago and other place is nearly bankrupt and the bonds are trading at pennies on the dollar. this is like an added wish that, on top of that you have storm damage. here's what we have, bond holders are going to take it on the chin here. there's about $70 billion of bonds, three or four different classes, everywhere from go's at the top of the spectrum to all the other stuff it's like word soup, it's crazy names. neil: are they all buffeted by the same selling pressure. >> the geodes are the top of the french aim, they're trading at 38 cents on the dollar, not 100 cents on the dollar. 38 cents.
the betting is if they pay off, if there's any money going to them, it will be only pennies on the dollar. some people bought them at 29 cents on the dollar. after donald trump came out with the statement. it was -- the bonds fell to 29 cents on the dollar. neil: you have to let go or -- >> here's the rub. if you are a retail investor, you can buy this stuff. that's who the average viewer, is the average guy on the street that goes to a broker, the broker will tell you to buy at depressed level, donald trump has nothing to do with it, can't screw him over, can't willy-nilly pay it. the federal government played roles in multiple municipal bankruptcies. new york's bankruptcy, ford and gm dropped dead. they did loan guaranties to get the state back. the question is can he go in there and immediately say stop the payment to bond holders and you know, depending on how this
aid comes out, he might be able to do it. i've been told that they do loans, forgivable loans or low interest loans, that money won't flow to bond holders. you get screwed mr. and mrs. bond holder. neil: i thought they were the first in line. >> doesn't matter, how the money is structured. if it's a loan, the loan gets paid first before the go bond holders. they're on stop of them. it's a loan. if it's a grant, a loan -- neil: even if all the debts were forgiven or written off, future investors are well aware of that. >> that's the problem, if you totally cram down the investors, go's and everyone else where nobody gets anything, you prevent them -- they have to come back to the market, you have to issue debt. people think you don't need debt. every company others debt. if our company doesn't issue
short-term debt, you and i don't get paid. guess what? the revenues from cable subscriptions don't get paid all at once, same with municipal governments, you need access to financial markets. that's why by saying wiping out the debt, donald trump made a bad situation even worse, he's basically put -- neil: isn't he stating the obvious here? that could be hard, but there's no way in hell they're in a position to remotely deal with that, and now with the hurricane aftermath, i'm not saying it's justified, that they have that to fall back on. >> neil, here's the thing, they need the capital markets more than ever. neil: i know, i know. >> you can't say wipe them out. this has to be a workout situation. maybe the federal government doesn't have to be involved in the workout. to wipe them out could be preventing puerto rico from coming back to the markets which it will have to to rebuild. neil: don't you worthese, is where i know, this sounds callous, let's say for hurricane relief, you want to
help out. just like people raised money for haiti, they want to help out. and yet we see the same thugs who get the money, i'm not comparing the two. but not going to help the people who need it. >> donald trump was on firm ground when he attacked the government of puerto rico by being mismanaging a lot of stuff. puerto rico is in the financial straits that it's in prethe storm. neil: how many mayors? >> 70 mayors to monitor or to govern 3.5 million people. think about that. that's insane. so they've issued a lot of debt. they have poor infrastructure, the place is a mess, we got that. but to say wipe out the bond holders. neil: be careful what you wish for. switching gears, this market, six days running, quite a streak here. what's going on? >> here's the bottom line and i said it again and again on your show. certain stocks fall out of favor, other stocks go up. broadly, the investor sentiment
is positive on the donald trump, for the simple reason is he's not hillary clinton. we're not going to see massive regulation. we're probably going to see net net some tax relief or nothing at all. not more taxes on businesses. neil: so even if he doesn't get the tax cuts through, forget about this year any, year, you argue that there's more to the rally than the taxes? >> yes, it all depends on corporate earnings. corporate earnings have been pretty good. not looking to screw companies like barack obama was. neil: the corporate tax the price earnings, multiples make the market look even more affordable? >> if you can bet a real corporate tax -- listen, just say i will a real corporate tax rate between 15 and 20, not with nil deductions so it actually is 30. neil: apples to apples. >> real corporate tax cut that takes down the real rate, 27% down to a real rate of 20% or
15. neil: that's significant. >> the market would have to be positive on that. because i don't think that -- neil: suddenly the market doesn't look pricy. people say it's not pricey now. >> people are saying if that happens, i'm not saying it's going to happen, if it does happen, there's a 20% bump in the market. neil: wow. all right. you're the best young man. >> thank you. neil: i don't care if you don't wear a tie. that's your call. >> are you mad i didn't wear a tie. you wouldn't have brought up that. neil: it's interesting, that's all. you are so powerful. >> would you like to see my gold chains. neil: no, it drags our people down. there we go, there is something to look forward to, kid. all on basic cable. more after this. the dow up 101.
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train hotel staff right now recognize gun cases, suspicious behavior by guests, of course in places like las vegas where different folks from all over the world come and congregate. that might be easier said than done. to manny gomez on all of this. manny, what do you think? we saw at the case of the wynn it's adding the long lines, and most seem to be open and accepting to it, but i wonder for how long? what do you think? >> well, i think the hotel industry, after this tragic event, is going to shore up its security protocols and add more security to their staff. that being said, i don't think we're going to see airport-type security in hotels, i don't think the industry is ready for that, budgetwise and more importantly, the guests really don't want to see that. at the same time, the nypd training the hotel staff to be
able to detect the potential person with a firearm or a potential individual that may be lurking about to cause trouble or obviously in the las vegas case to be an active shooter. they do an excellent job. the city shield program, the intelligence department in the nypd is the best of the world, they're always looking at the best practices and for them to be training hotel staff is a step in the right direction. neil: you know, manny, i always wond wonder, if you think about casinos, they have a lot of cameras on every floors, they have the potential to monitor a lot of folks here. i guess the thing that would change is if they had to advance into checking into luggage, you don't think that's realistic? >> i don't think it's realistic. many states including las
vegas, they specifically have gun conventions, it would defeat the purpose if you're looking for guns, when in fact you have events held in las vegas, held in many other states where there are actually gun shows. i don't think that we're going to see an obtrusive type of security where bags are going to be checked, this and. that i think it's more of a profiling of individuals and having security trained where they, if they see something suspicious, then they could react and try to be more proactive in protocols. neil: you know what's interesting in stephen paddock's case here, the alleged shooter, manny, he didn't have a social media profile. they might discover otherwise or we're not learning that. nothing would have telegraphed none of the troubles. no memorable fight with a neighbor. he was considered to be rude, blunt, but nothing that would telegraph any of this. that makes it harder, doesn't it? >> absolutely.
by all accounts, this individual was off of everybody's radar. neil: right. >> which makes it more troublesome for law enforcement to try to react or be proactive to the next potential attack. we need to find out what the motive was. obviously, this was preplanned for weeks if not months ahead of time. neil: what if we got it wrong thinking it was preplanned for a country music event when six weeks, seven weeks ago he was apparently staking out what was to be lollapalooza event, largely rock, pop music event in chicago. this wasn't partial to the music as much as it was large crowds and the only reason he turned back chicago, the long ride with a lot of guns. >> right, you're absolutely right, neil. this was preplanned, but again week need to get to the motive. why did this person want to do this? neil: what do you think? >> i think the investigation is
still ongoing. obviously, this person is mentally disturbed. nobody in their right mind does something like this. the question is -- and we have to find out. you have the hipaa laws, et cetera, that are difficult to circumvent to get to potential medical condition, a psychiatric condition. by all accounts, including his live-in girlfriend. he had not snapped. he had not changed. he had not acted different in any way. so this is really troublesome to law enforcement because without a motive, we can't try to prevent the next one and, of course the concern is that there could be a copycat out there thinking about doing the same thing. neil: that's what you worry about. manny, thank you very much. good seeing. >> you always a pleasure. neil: we're also keeping an eye on the dow, haven't lost track of that. the fact we're looking at another record or the streak is the longest since 2013.
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all of those worries and look at this buying. sixth straight day. well into record territory. a lot of other market averages going along with the dow. what's happening? >> what's happening, still the only place you can put your money to earn a yield. there are fixed yields in the debt market and nothing can you find that's spooking people. you've got a pro business administration that fundamentally makes people and entrepreneurs like me feel good about the environment. so from that aspect, and i think there is one last thing, neil, that the effects of technology and the internet have been it allowed companies like mine to start more easily with less capital and allowed bigger companies to cut blocks of expenses out powering the earnings. through this phase of the technological revolution, it's been good news for the market. whether that holds or not is a different question. neil: people say the tax cuts go through this multiple on the market, which isn't obscenely
rich, north of the average, goes way down. the market is cheaper, affordable, has a lot more room to grow. do you concur? >> i don't know, i think as we've discussed before a lot of that is baked in, some expectation whether or not it is or not. >> you are not in the crowd that says this is a tax cut inspired rally? >> yeah, i think it could have bumps, juice to that. neil: if it does, it will happen. >> juiced out, but there's not going to be wailing and gnashing of teeth on wall street if that happens. neil: the house made the blueprint effort, a lot of this is arcane stuff but sets the stage for tax cuts. so so far, so good, right? >> so far, so good. my reaction when the plan or framework of a plan came out was with the exception of the corporate cut which i realize is a big mover, it's not something you would feel rippling through the society. so -- neil: that's a good point.
>> it's math as opposed to emotion and consumer sentiment, because there is nobody's needle that that thing is going to move on main street. neil: a lot of your investors are very rich, right? one percenters, do they know it's unlikely they're going to get a cut? >> yes. neil: they're okay with that? >> i definitely think so. neil: what do they say? >> wealth generators are not so much focused i.e. entrepreneurs, they are not so much focused on what did i earn on investment portfolio. they're focused on what kind of environment. i can generate wealth, a run a business. i'm a plumbing contractor, a wealth manager, i run a business, i can generate my wealth if you give me the runway. if you want to shave me a point or give me a point there, doesn't come into decision-making calculus. neil: really? if they stay at the 39.6%, can't get the 35% party, they might not be able to take
advantage of the pass through, the 25% if that ever comes. they're okay with that? >> in my opinion, the number of people whose needle would move, how many hours i work or take the risk on a 4% marginal tax cut, zero. neil: interesting point. so bottom line something for them is going to be better than nothing for anyone, right? >> that's right. happy to take it, but mostly, my belief is, you leave me this environment where i know you're not like the obama administration coming to hunt me down because i didn't build this, you give me run way and a playing field and leave me alone, shave me on the back end, i'm okay with that. just don't screw up my runway. neil: people are drawn to smaller stocks, the russell is running to records and the pace has been faster if that's possible than the big aggregates. is that the unsung story for the quarter for the next year, what do you think? >> could be, the information
ubiqty makes it easier and easier for competitors and harder and harder for brands and traditional things to hold onto what they've got. they had a huge information advantage. they had the ability to spend big amounts of capital to get things down. now can you do things incrementally. we've turned into an economy of ankle biters and it's okay unless it's your ankles. so smaller stocks, in my opinion -- neil: what do you like as a group or invest in or looks keener to you than others? >> i fear that if you are a big brand company, if you rely on your brand, and i don't care whether that's apple or procter & gamble or some kind of -- some kind of technology company who's relied on the brand, that is in danger, it's harder and harder in a world of transparency and reviews, harder to say trust me, my product is better because i have the magic brand. neil: would you buy a market
aggregate, a dow, an s&p, a nasdaq? >> i would not be thrilled about it. neil: really? so not a lot of run to room here. >> or a lot of room to run. neil: that's it. [ laughter ] >> there's a reason why he doesn't wear a time. he doesn't have to. he's that smart. not like a gasparino situation. minutes away from a white house briefing that might get into the thing with the markets and everything else, how close they are to finding out about the guy behind the shooting in las vegas. they're discovering weird stuff. very, very weird stuff. we're on it after this. the smart ones look to fidelity to find them. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪
neil: market will not quit. this might come up at the white house briefing. zare sanders doing honors. hey trish. trish: we may learn new details about the sunday's massacres with we learn from the white house now. all this as vegas police are on the hunt for any possible accomplices. the sheriff saying this guy may have had help. all this as we learn he may have been targeting other cities as well. let's take a look at the markets that are up 100 points. not bad there, another record day on wall street. i'm trish regan. welcome to "the intelligence report." a lot of questions, more than answers today about who this gunman really was. las vegas police say the guy was living a secret life. we may never know anything about