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tv   After the Bell  FOX Business  October 20, 2017 4:00pm-5:01pm EDT

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right now looks like a win for all three major indices. i hope you have a terrific weekend. [closing bell rings] that will do it for the claman countdown. i will see you guys on monday. have a good one. david: it is another record. dow looks like closings up in the after-hours, 163 points. melissa: nice. david: and a 1/2. not bad for going into the weekend this is the fifth record close in a row. a new record for s&p as well. nasdaq could see one as well. we are really close on that one. i'm david asman. happy friday. melissa: yes, i'm melissa francis this is "after the bell." more on the big market movers. here is what else we're covering during this very busy hour. the white house now defending general john kelly's emotional response to the president's call with a gold star widow, as if you have to defend that, as the mainstream media continues to hammer away. more on a heated exchange at today's briefing.
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senate republicans passing a 4 trillion-dollar budget, clearing way for tax reform but there are still hurdles again. president trump showing the notion that there could be four, possibly five tax brackets in the plan. come on. more on this in interview with maria bartiromo. among our guests steve forbes, brad blakeman, lieutenant-general thomas mcinerney and gregg jarrett and "tmz" founder, harvey levin. david: what a week of records it has been. s&p and nasdaq closing at new record highs as well. let's go straight to nicole petallides on the nyse. futures showed downward arrow, all red. what happened? >> the momentum picked up throughout the day. ge a big laggard came off the lows. we're talking about what happened in washington.
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the financials climb on top of tabs reform once again. as they move forward, senate passed the budget as a step to move all of this forward. here is look at financials running up on this particular topic. names such as jpmorgan, bank of america, pnc, hitting new highs. goldman sachs, jpmorgan among leaders on the dow jones industrial average. to the financials certainly helped things along. i did mention ge, which in the morning was down over 8%. by the end of the day you wouldn't believe your own eyes. it hit a 52-week low in the morning at 2210. here at 23.83, ge up .25%. sixth week in a row for s&p and dow, six straight weeks of gains and record flows. watching nasdaq, that's a record as 6629, new record cse. youee acrosshe board how they did. we have earnings. ibm knocked it out of the park.
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en. travelers 5% gain. night the held, 7% gain. i had more in my 401(k) and ira six weeks in a row. back to you. david: that is not bad. ibm, 10% that is great. nicole, thank you. we have jack hough from "barron's" and happy friday, jack. financial stocks did well. but all stocks had red arrows before the market opened after we heard about the budget deal so what is going on here? >> look at banks in particular, they stand to be big winners if you get a tax reform package. not only benefit from lower rates, improves economy, helps lending. anything gets the economy going better could push interest rates higher which could relief some pressure on lending spreads. people are thinking, maybe there
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is a possibility after all of tax reform. i don't know how quickly it is going to happen frankly but folks seem optimistic at moment. david: but a possibility, carol, just a possibility was enough to move markets as they did today? >> i think so. you have so many things setting up the current situation for investors. you have low inflation. you have low interest rates. you're getting some nice earnings. you have growth increasing. then you have the possibility of tax reform. all of these possibilities, mixed with foundation of all things i just said is rearly a perfect situation for investors. the challenge becomes, at sometimes possibilities don't turn into realities. if we get this tax reform, things that could happen like the dollar going higher, could actually end up impacting the dow companies that have large international exposure. david: true. >> it could end up increasing interest rates. could end up increasing inflation. right now the market is loving the situation, but was we do get this. it becomes reality, it may
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actually turn in the other direction, david. david: jack, we're 240 days without a 3% or more correction in the s&p 500. that is one day short of a record. a lot of people think we're teetering at top, at least the s&p 500. what do you think? >> if we're talking about a correction, that could happen anytime with or without a good reason there. is no one on planet earth can predict one. with a bear market you need weaker economy than we have right now. david: good man. >> ibm, i see broader participation versus crusty old industrial companies that are reasonably priced but coming around. david: i love it. leave with optimism with both jack and carol. melissa. melissa: the trump administration moving forward with an array of decisions. white house press secretary sarah huckabee sanders answering questions on many of them this afternoon. our own blake burman was in the white house briefing room. blake, what can you tell us?
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>> appears, melissa president trump narrowed down his decision who might end up leading the federal reserve. there are five candidates, five finalists we've been telling you about, but when asked by maria bartiromo in the white house interview when maria spoke with the president, president trump specifically singled out two. john taylor, current stanford economist and jerome powell and heaped praise on janet yellen this is remarkable turn of events as it relates to yellen, during the campaign trail president was critical of yellen, she is too political, should be a shamed of herself and essentially saying she was a political arm of president obama and hillary clinton. during the white house briefing i asked sanders as it relates to yellen what exactly has changed? >> them having opportunity to spend time directly communicating communicating with one another certainly through this process. beyond that i will not weigh any further into into this process,
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where we are, other than the fact the president will make announcement soon. reporter: meantime the white house continues to answer questions on the controversy involving the phone call between the president and the widow of sergeant david johnson killed in niger earlier this month. congresswoman frederica wilson listened to call and is sharply critical of the president's message. yesterday at the previousing john kelly called into wilson's characters, that she bragged securing funding for a building after named after two explain fbi officers. video showed that is not the case. wilson praised herself for fast tracking naming of the building. now is the white house's modified explanation. >> general kelly said she was stunned she made comments about herself and that was the point of what he said. that was, what took place here yesterday, and we still stand by those comments. reporter: wilson responded on
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twitter, posting definition of word proof. sanders did suggest that others can back up the series of events of kelly's initial claim. dade, melissa, back to you. melissa: can we let the whole thing go. david: i'm for that. melissa: blake, thank you. here now is brad blakeman, former senior staffer under president george w. bush. i will not ask about the last story. because i do not want to talk about that any longer. let me ask you instead, i thought the janet yellen piece was really interesting because he was really critical of janet yellen. he heaps praise on people one day and derides him the next. i'm not reading as much into this as some other people are. what do you think? >> i think the president is agent of change. that is what brought him to the white house. i happen to believe a change is probably in the offing with regard to the fed. the question who will it be? we already know he probably narrowed it down to two. he has given janet yellen respect of interview, getting to
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know her. the only thing that speaks in her favor, the fact the market is doing so well. melissa: yeah. the. >> economy is humming along under her stewardship but that doesn't mean it won't do better perhaps if there is a change. especially if we get generational tax reform. melissa: who do you think the two he narrowed it down to? >> we know powell is probably the most likely because because he is on the board of the fed already. he is somebody who i think market was react well to. melissa: what about kevin warsh? he has a lot of experience. he has a lot of great ideas. of course john taylor is the phenomenal in my humble opinion in the school of economics that i believe in. so i don't know, you don't think it would be either of those twice? >> it could be and the president in maria bartiromo's interview which will appear this sunday on fox -- melissa: i can't wait. >> she went in depth with the president who he has talked to. he was pretty candid on probably
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where his thinking is going to go. i happen to think that change is probably in order, to thank janet yellen for her service. we'll get somebody new. that would be a good compliment what will be coming down on tax reform. >> thank you, you segued so nicely. you're so professional. so you think tax reform is going to happen? yes i really do and here's why. the budget passed. only lost one republican hot president knew he would lose rand paul. the president is quick to say rand is with us on tax reform. that is important. there are democrats to be had. i was at the white house yesterday on background talking to the economic folks. one thing that really impressed me was the fact of their willingness to negotiate. we have the most transactional president we have ever had in modern history. i think if there is a deal to be made a deal will be had. melissa: not only had i bet he put couple things up top to give away. any good negotiator knows you have to give to get.
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we'll see what those things are. brad, thank you, very positive, very enlightening thank you. we loved you. david: he is always on top of things. we love brad. more harrassment accusations surfacing for harvey weinstein as the company he co-founded is struggling. "tmz" is instrumental in the breaking news on the weinstein scandal. harvey levin joins with us the latest. melissa: a startling warning about north korea. the head of cia saying the rogue regime is only months away from being able to launch a nuclear weapon at the u.s. we will get an update from the state department. david: meanwhile president trump is sitting down with our own maria bartiromo. we teased you a little bit what she said. what exactly he is saying now about a tax bracket, another one, for the top 1%. other details of the plan you haven't heard yet. steve forbes is here to respond. that's coming next. >> i want to get by the end of the year but i would be very disappointed if it took that long. ♪
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melissa: critical step towards tax reform. president trump gets a chance to advance his agenda after senate publics nearly voted to approve the 2018 budget, as we learn new details about the tax brackets of the gop plan from our own adam shapiro. he is live from d.c. with the latest. adam? reporter: good to see you, melissa. you know the key here now is what happens in the house and kevin brady. keep an eye on him. we have video of the big six they're often called. you have speaker paul ryan, mitch mcconnell, gary cohn, advisor to the president, steve mnuchin, secretary of the treasury and orrin hatch, senate finance committee chairman and kevin brady.
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kevin brady is key to the prize. after the conference committee, we expect them to authorize the 2018 budget resolution, brady releases details of the 2018, 2017 tax reform, rather. paul ryan was hinting what some details would include which could be another tax bracket on top of what is already proposed for the super wealthy in the country, in order to protects cuts for the middle class. here is speaker paul ryan this morning. >> the fourth bracket and the president and others are talking about we're going to do, we're working on those numbers, now th we have a budget rolution from the sene, we want to ma suree get a final rolution between the house and senate. once we get the budget resolution, that tells us how our numbers will work. then we'll introduce the bill which will have the fourth bracket designed to make sure we don't have big drop in income tax rates for high income people. reporter: you hear that fourth bracket, you think, what, what? well, president trump speaking with maria bartiromo, actually referenced that, again about
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protecting middle class taxpayers. here is what the president said. >> that is really not done very well over the last long period of time. and so when paul mentions maybe one more category, which i would rather not have. it may not happen, but the only reason i would have, he does say this, he is very plain what he said, for any reason i feel the middle class is not being properly taken care of. reporter: so, maria, as we head into the weekend, next week, we'll have the conference committee. they are going to eventually, both chambers will approve the 2018 budget resolution. kevin brady, keep your eye on kevin brady. he is the man with the golden ticket. melissa: you said four, i said, what, what? i don't like the sign of that. reporter: like -- what, what, what? melissa: adam shapiro thank you. david: someone else who doesn't like the sound of that, steve forbes, forbes media chairman. steve at least the president said he would rather not have another tax bracket, but what is
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this deal, where did this idea of having a, special wealth tax which is what this amounts to, where did this idea come from? >> two things. trying to appeal to democrats and take away helping the rich thing. david: let me stop you right there because there is no way in hell they will get one democrat voting for anything, so why try to appeal to the democrats? >> because it is washington, and they don't get the real world. the other thing, they worship the congressional budget office estimate what is will happen in the next 10 years. the congressional budget office always assumes tax cuts don't much help the economy. we know from experience that is absolutely ridiculous. so this is a straitjacket the republicans put on themselves. they could go for massive middle class tax cut, across the board rate cut, without doing crazy thing to hurt the economy and investors. david: another thing we found year after year, administration after administration if we want growth we need tax incentives at every level.
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at bottom level, certainly you never know who at bottom will come up with idea or company that gross at the top level because they reinvest their money in new businesses and new jobs. >> that is why the republicans made a mistake saying they want 12% tax bracket. keep it at 10, guys. go for it. no mention of capital gains tax cuts. now we're almost at 24%. we know every time they reduce that tax, they immediately get more revenue, it helps the economy. david: they get more revenue. the other thing that happens, everybody is complaining bernie sanders on down, it is funny hearing a lot of republicans sound like a socialist, bernie sanders, talking about the wealth dysequalibrium between the rich and poor. when you have tax cuts at every level, we saw this in the reagan administration, not only does the top level do well, the richest 20%, but the poorest 20% did just as well. almost equal, 12% rise in their income. >> that is what happens when you have an economy with low tax
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rates. incentives for investors, that is how you get a higher standard of living. these people don't seem to get it. what they should always ask themselves, not what the congressional budget office wants which nobody cares about. what they should ask, how to get maximum growth for the economy now into the future. that means big rate cuts. means cutting capital-gains tax. no more pandering to class warfare democrats. go for it. david: if you care about class warfare, at very least, it is legitimate to care about the divide between richest and poorest. it shouldn't be growing. it should be narrowing somewhat, then you should be against progressive tax increases of the obama administration. we've seen over the past seven years that divide has grown, as we have increased taxes, not decreased them. >> yes. because who is hurt the most with a stagnant economy? those with the least. those trying to get ahead. so they should do it across the board. so those on the bottom have a chance to get to the top. we saw in the '60s, saw it in
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the '80s, and '90s, when you have bow nine tax code good things happen. david: steve mnuchin seems to understand this. when he came out with the original tax plan with gary cohn in april. growth is the key. we don't have to worry about cbo analysis. it is stagnant, doesn't take into account the growth of economy. is being overruled inside beltway by politicians? >> i think now he is is. as they get into the end of the day with nitty-gritty passing something, they can weigh in, we want maximum growth. that is the bottom line. if you have 3 1/2 or 4% growth in the coming years, the deficit goes away for those worried about the deficit. the cbo always assumes, maybe we'll get it up to 2 1/2 or 2.6, something ridiculous. get over it, guys. look at history. look at real experience. better tax cut, more better for the economy. david: bottom line, steve
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forbes. catch steve and my every weekend. "forbes on fox" every saturday 11:00 a.m. eastern on fox news. sunday as 7:00 a.m. eastern on fbn. melissa. melissa: big bold tax cuts, big bold tax cuts, that is what we want. loretta lynch facing house intel committee today but were they able to get into the bottom of the infamous tarmac meeting with bill clinton? gregg jarrett joins us. college students reveal they're ecstatic about president trump's tax plan until they find out it is. the laughable bias. >> if you said it was trump, there would be more opposition to it. >> people once they hear trump or republican, they stop no matter what. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products
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david: former attorney general loretta lynch testifying today in front of the house intel committee over the controversial tarmac meeting with former president clinton back in 2016.
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and melissa has a guest on this subject. melissa: that's right, gregg jarrett here, former defense attorney and fox news anchor. first of all i would describe her as cold and crank sy on the way in. did you see our reporter peter doocy tried to ask her questions, she grunted at him. >> generally people with a lot to hide are cold and cranky. melissa: could be it too. >> could be it. melissa: can't hate doocy. >> if it doesn't benefit them but hurts them, no wonder she is a little cranky. melissa: how do woe we know what is going on behind closed doors? >> we don't. but sources tell us the general matter was supposed to be about russian meddling. some members were going to ask her very directly, what went on in infamous tarmac meeting 30 minutes on board her plane, with
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bill clinton james -- days before james comey announced no charges. comey was hard to believe they talked half hour about grandkids and summer vacation, what not, when bill clinton's wife's future is hanging in the balance here. she was in criminal jeopardy, clearly and also the democratic nominee and her fate was held squarely in the hands of loretta lynch, who owes her career to bill clinton, which is a glaring conflict of interest. melissa: yeah, that is one of those stories my kids would tell me, and i would go hmmm. speaking of hmmm, catherine herridge is standing by right now. she has more details. don't move. we'll analyze it afterwards. catherine what do you have. reporter: so lynch was up here to answer questions in the russia probes but she could not escape the clinton email case, and whether she had politicized
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it. >> attorney general lynch, did you direct director comey to call the clinton email investigation a matter? did you direct, attorney general lynch, did you seek permission from anyone within the white house before you took the meeting with bill clinton on the tarmac? attorney general lynch, can you address any of issues raised by director comey during his testimony and made before the senate intelligence committee? this video from june 27th shows the arizona tarmac where that meeting took place, and if you look in the far distance, you can see what appears to be a security detail with a tall man, white hair, we believe that to be bill clinton, moving towards loretta lynch's jet. a senior republican on the senate side wants to know whether lynch made that decision to meet with bill clinton on her own, or whether she sought counsel from the white house. >> do you know if there was a phone call between the former attorney general, miss lynch,
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and the white house regarding whether or not she should take a meeting with former president clinton on the tarmac? >> no. >> the inquiry could be probably directed to the deputy attorney general. >> i will do that. reporter: so the meeting behind closed doors in a secure facility behind me lasted nearly four hours. we didn't have any comment afterwards from republican or democratic staffers or the former attorney general. now i don't want to take too hard after turn here but there has been another big development this afternoon. the firm that is behind the controversial trump dossier, fusion gps, earlier this week, two of their employees took the fifth in testimony before the house intelligence committee and late this afternoon, their lawyers have gone to court to try and get a temporary injunction to prevent their bank, td bank, from providing records to the committee about their finances. that of course would likely reveal who paid for the dossier in the first place.
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that is information they profused to provide any congressional committees. melissa: catherine, thank you very much. i apologize, i said steve doocy was chasing him down, it was peter doocy. it was you. reporter: it was me. melissa: you were the tough one. that was great. she was not shabby. catherine herridge, great reporting as always. reporter: worth a try. david: she is intrepid reporter. melissa: actually i would run from catherine if she was chasing me down, because she is very tough. she only goes after people who are in trouble. if she was chasing me i would just sprint. but she did say that fusion gps story, so yesterday they were in front of a house intel. they pled the fifth and didn't say anything. what does that mean? >> i used to tell my clients if you don't have anything to hide, don't hide. melissa: yeah. >> and, generally people take the fifth if they might be in legal jeopardy. that is the reason. now the other reason here is,
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the lawyers may be trying to position their clients for an immunity deal of some sort. melissa: yeah. >> give us immunity from anything and everything that we did wrong. and we'll tell you the truth of what happened, so that, could eventually occur. melissa: the second piece what she talked about, is that is the thing that is very interesting because she said they want bank records. they want to look to try to see who paid them for that ridiculous dossier on president trump, that said he is in the hotel. >> right. melissa: all that bananas stuff came out. buzzfeed published. >> was it rush that funded this? democrats who funded this? originally may have been started by a republican donor who was anti-trump. melissa: maybe. >> you need to get to the bottom of that. that would speak volumes about motivations and content. also did the fbi offer to pay and pay $50,000 as one reporter suggested, christopher steele, the british spy who composed this. melissa: yeah.
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>> now look, they took the fifth as to their verbal testimony. generally you can't utilize the fifth to protect document unless the documents are testimonial in nature and generally financial records are not. there is no protection. melissa: interesting. >> yep. >> all right. gregg jarrett, you're fantastic. thank you. >> thank you. melissa: good stuff. david. david: fascinating to know. meantime the weinstein company in financial quicksand. they are sinking very quickly. how the reputation of the disgraced cofounder could leave the company stranded without any kind of lifeline. we'll get inside scoop from "tmz" founder harvey levin coming up. melissa: hitting a new low. critics using general john kelly's emotional defense of the president's phone call to slam the administration. how the white house is fighting back. >> it stuns me a member of congress would listen in on that conversation, absolutely stuns me. and i thought, at least that was sacred.
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♪i'm living that yacht life, life, life top speed fifty knots life on the caribbean seas it's a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany♪ ♪watch this don't get mad (bell mnemonic) get e*trade and get invested melissa: what a week for the markets. all three major averages closing at record highs. here is how they ended the week. the dow up 6%, about a six weeks gains in a row -- up 2%. >> if you never worn a uniform, if you have never been in combat, you can't even imagine how to make that call, but i think very bravely does make the
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calls. i was stunned when i came to work yesterday morning and broken-hearted what i saw a member of congress doing. david: general john kelly with his breathtaking comments yesterday about honor, sacrifice, and how difficult it toys call the family of a fallen soldier saying that he advised president trump on what to say, but, congresswoman frederica wilson, is doubling down today, slamming the president for his phone call to the family of sergeant la david johnson. take a listen. >> there is nothing to misinterpret it. he said what he said. i just don't agree with it. i don't agree that is what you should say, to a grieving family. david: here lieutenant-general thomas mcinerney. i would rather focus on general kelley if i can, general, for obvious reasons. if you were hearing what he had to say, i have a son in the military, but i have never been
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in the military. i would imagine you have had to make the kind ever calls, and visits to gold star families that he was talking about. what was going through your mind in your heart at that moment? >> when i heard general kelly, david, i was immensely impressed in a dignified way to discuss there, very professional, with a lot of class. and that is what you would expect out after general officer. to hear what happened on the other side, and congressman wilson and undignified, the way she handled that, took a sacred process, and put it in the gutter was absolutely, i just can't express how bad it was, that she could say what she said, and continues and persists to say the same things. general kelly did the nation and the president the president a great favor, when he laid out process how we pay homage to our
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american heroes when they're killed in combat. david: it's a sacred moment. i think that is what he got through, that it is a sacred moment. and frankly, as we have heard from him and others in the military, i'm sure you have this experience, everybody, the families respond in different ways. some are understanding. some are very angry. i mean, i imagine you get the whole range of emotions and feedback from those families you're talking to, but it is a sacred moment, no? >> it is very sacred, david. the way you described, a different emotions, how it impacts different people is absolutely correct. and you have to adjust. and it is very difficult. the president did it very courageous thing. i am kind of like general kelly. i would not recommend he do it, because it is very difficult thing to do. and so, but general kelly laid out how it was explained to him. i was a casualty officer for my brother. i'm a gold star brother, when he
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was killed in vietnam. the fact is, it is a difficult thing, even when you're a family member. but, general kelly could not have described it better. it's a sacred moment for a great nation. david: we have only very short period of time but we are investigating what happened in niger, in the battle that led to his death, and, there is going to be a full investigation the some people say we're spread too thin all over the world. we have 60, to 80 operations going on like the one that happened in niger. are we spread too thin, quickly? >> we are spread too thin, that will be speculation. isis or radical islamic elements laid this on. they were meeting with elders, so the intelligence wasn't good. intelligence told them there was no threat. i would be speculating, how that would come out. we got caught. we were surprised. david: general mcinerney, i don't say this enough, thank you for your service and your
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family's service as well. i didn't know you came from a gold star family. god bless. thank you. >> thanks, david. david: appreciate it. melissa: on the cusp of nuclear goal, cia's director's warning about north korea. details are next. ♪ he's green money, for spending today. makes it easy to tell you apart. that, and i am better looking. i heard that. when it's time to get organized for retirement, it's time to get voya. ththe next energyngs toto power our dreams,re will be american energy.
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missile to deliver to the united states. >> they are closer now than they were five years ago. i suspect they will be closer five months than they are today, absent a global effort to push back against them. reporter: secretary tillerson will travel to pakistan, india, and cat katar. qatar denies that. qatar is willing to engage and it believes it and it allies must be willing to do the same. david: thank you. melissa: amazon wooing their second headquarters in to new york, even turning skyscrapers orange. new york mayor bill de blasio blasting the company at a town hall. it says amazon is disrupting communities, encouraging people to shop local. which one is it?
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if case you don't hear he won't celebrating new york yankees just one win away from the world series because he is red sox fan. david: it is insane this guy will win. he is he red sox fan. increased budget 25% in three years. i had to take to subway, i walked to work, all the money can't spend into the subways. getting free bikes for everybody. melissa: how can the mayor of new york not root for the yankees? if enough people knew about that, he would have to lose the elections. david: speaking of elections, how about mark cuban for presidency in 2020. the billionaire speaking out on possible future in politics. what he is now saying about his run for the white house, what may be. fallout for the weinstein company. why a potential buyer is getting cold feet. we'll hear from the man who is breaking all of the details behind the story that rocked
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hollywood. my wife's favorite tv correspondent, "tmz" founder, harvey levin. melissa: wait a minute. you're not her favorite? david: no. box mentioned a tip a pro gave her. no. yep. did it help? it completely ruined my game. well, the truth is, that advice was never meant for you. i like you. you want to show me your swing? it's too soon. get advice that's right for you. investment management services from td ameritrade.
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>> i think we're going into a time where you need somebody who can connect to people and relate to people. i think i qualify on each of those. now whether or not i will do it, that is a big decision. >> you sound like a candidate. >> i'm a concerned american citizen. >> so am i. i'm not a candidate. >> i wouldn't run unless i have solutions. if i have solutions, then i have something to offer. melissa: mark cuban revealing potential political aspirations to "tmz"'s harvey levin in an interview that airs this sunday. will the billionaire entrepreneur throw his hat into the 2020 race? here is now harvey levin, "tmz"
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founder and "objectified" host. i have is a fantastic show i have to say. cuban says he can relate, is it team ownership, billionaire, or to the ladies what helps him relate to common man. >> mark cuban connects and fires on all cylinders with the common man and woman. mark cuban grew up struggling. mark cuban had no money. mark cuban had debt and mark cuban was evicted. that is one of reasons he is successful in multiple businesses. this guy dominated the computer business. he dominated sports. he completely changed the nba, and understood fans in a way no other owner did. i got to tell i think mark cuban is a triple threat in a presidential election. melissa: i believe you. what was the moats surprising thing about him real quick? >> well i mean the thing that i,
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look, i think he is going to run. melissa: yeah. >> you will see the interview. he tells me which party he will run. melissa: ooh. >> i know. that is a big deal. you think about it, will he challenge donald trump in the primaries or is he going to run against him in the general. he answers it. melissa: i bet he is a democrat. i want to move on it to that story you have been just killing the scandal rocking hollywood. equity firm colony capital getting cold feet we're hearing about buying the weinstein company because of their finances an reputation of cofounder harvey weinstein. this is according to your own "tmz" reporting. is that true? he was sort of a magician making money rain. i know many people on wall street and financiers who invested in films and different vehicles that he put together, mainly because they wanted to be invited to stuff. seems like he was very savvy in terms of making his company and himself super loaded. >> well they're not super
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loaded. they're not close to being super-loaded. as a matter of fact, we have sources connected with this whole thing with colony capital and the weinstein company and the word i'm getting back they're broke, and that this stock that harvey and bob weinstein have is virtually worthless. the only division that seems to have real hope is the television decision. people are bailing left and right. companies are bailing left and right. what colony capital thought they could do, and they're still not sure, what they thought they could do, rename it, get a new partner. they say they have a number of suitors, mgm, caa. william morris, and get a new company and recast the whole thing and put humpty-dumpty together again. what i'm told there is such a taint right now, colony capital isn't sure they can do that with changing everything. they're not sure that they will go through with the sale. if it doesn't happen with colony capital they are in trouble in terms of survival. melissa: does he own the library
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of hits that he has made or is it what you're buying is future production of films in the pipeline? what are you really buying? >> well that is a good question and what i'm told, both, but here's the problem. i'm told that the film library is leveraged to hilt. melissa: oh. >> union bank has claws in the film library, to it is really not worth that much. it is really the television division, they thought they could make $60 million this year. if they made 15, that would be ended up being good but now everybody is bailing. so the question can you reinvigorate it? that is what interested colony capital. they're just not sure anymore. >> other problem, a lot of people think he is the one had a good eye picking projection. >> that's true. melissa: if he is out of it, that is lot of value. quentin tarantino saying he knew enough, should have done more. that is brave admission, rather than saying i didn't know,
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anything else i say is hollow, i should have done something. >> i couldn't guarranty more. quentin tarantino is one few people are being honest. melissa: yeah. >> what harvey weinstein did is despicable and horrible beyond words but hollywood knew about this. melissa: right. >> this was on television. look what seth mcfarland did, announcing oscar nominees for best actress in 2013, and he said it. tina fey said it on "30 rock." melissa: right. >> courtney love said it in 2005 on television. melissa: everybody knew. >> it was all over the city. but everybody is kind of acting like, oh, my god i can't believe it. either they knew specifics because some people were talking, or they knew generally what was going on. you know, just the way hollywood works is, you kind of just close your eyes to it. melissa: they were all afraid of him. there you go. harvey, thank you. good luck with your show. we'll be watching. thank you. >> thanks so much. david: who is next? i want to know who is next?
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we could have harvey back to answer that question. melissa: yeah. david: finding common ground with president trump. what happens when liberal college students think they're approving of a bernie sanders plan, when it is really the president's tax cut. tape. you will not♪ believe it. ...
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>> melissa: what would happen if college students were told that president trump's tax plan was actually bernie sanders plan? >> david: campus reform went to george washington d.c. to find out. >> first it's to enhance the child tax credit. positive or negative? >> positive. >> i was a social worker but i understand how important tax credits like that are. >> next up eliminating the death tax. i say more positive. >> i think i agree with that. >> bernie is lowering the small business tax rate to a maximum of 25% positive or negative? >> definitely positive. >> he's pretty good like definitely better than whatever trump has proposed, i would make
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that leap right there. >> what if i told you this actually is donald trump's tax plan not bernies? >> you've got me. >> david: 68, 275 a year that's how much parents pay for this. risk & rewards starts now. >> liz: white house chief of staff general john kelly getting attacked by democrats in the media after emotional and deeply personal defense of president trump and the democrat's congress woman claims that the president was insensitive to a soldier's widow during a call. also, with us tonight, a special guest lineup, retired general jack keane, representative andy biggs, ever in jackson, and gold star mother debbie lee all here to react. welcome to risk & reward i'm elizabeth macdonald. first to your money the market

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