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tv   After the Bell  FOX Business  January 9, 2019 4:00pm-5:00pm EST

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lauren: there we have it. democratic side, republican side, both digging in their heels. the markets reacting. markets up 140 points before all of this. [closing bell rings] volatility continues. connell: close the market. connell: get out of here melissa: i'm melissa francis. connell: it didn't go well. i'm connell mcshane. this is after the bell. still higher. dow up 89. nasdaq higher by 60 points today. we'll have more on politics and
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big market movers. here is what is new at this hour. a total waste of time. negotiations unraveling as melissa said at the white house moments ago. president trump walked out of a meeting in the situation room with bipartisan lawmakers as house speaker nancy pelosi would not approve a border security plan that would include a wall or steel barrier. we're live at white house. both sides have done a lot of talking. democrats accused of the president meantime manufacturing a crisis. so what is it really happening at the border right now? we'll break through the rhetoric. we're on the ground in california, just north of u.s.-mention coborder. all coming up melissa: let's get pack to the
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markets. gerri willis on the floor. >> closing down 90 points higher. given with we've been through the last couple months we should be happy i suppose. look at big dow gainers. boeing higher. why trade? trade was a big thing today. semiconductor companies higher. boeing up almost a full percentage point. apple higher as well. despite the fact they're talking about production cuts. they have to offer bigger deals to apple iphone holders that want to trade in their phones. even so, apple higher. visa higher here. partnering with siriusxm. that was a big announcement. home depot, rbc raising the target price on that stock. they are all gaining here. good news here. let me tell you a little more about apple. they are up despite a nikkei report, that the company planned production for its three new iphone models of the january
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march quarter by how much? 10%. you would think that is bad news? no. traders are out and buying. we talked about the trade-in program. we want to let you know chips were a big segment today. everybody buying chip-makers especially micron, because these companies do well with sales from china. back to you guys. melissa: gerry, thank you for that. connell: the meeting that wasn't. president trump abruptly ended a meeting at white house last hour with congressional leadership after democrats refused to compromise and negotiate on his worder wall. so our market panel today, let's bring them in, capitalist pig hedge fund. todd horowitz, bubba trading show host. we talk about how the big issues are the market and china and the fed. this government shutdown shouldn't have much of an effect on trading, maybe this last hour of trading it might, if things continue and dysfunction kind of continues, right?
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>> it sure did, connell. as gerri willis pointed out. the market was flying high up until word, ultimately pressers what sounded like a pretty contentious meeting with the president and leaders from congress, the wall, whatever you call it. markets start to sell off. i have to tell you there is positive price action here. this is one of the first days in months, starting to see new 52-week highs outnumber three 52 week lows. market is trying to build a base. some of this action got thrown out at end of 2018, like energy, preferred stocks, like emerging markets. those are starting to make a bid. we ended off the high. bulls are trying to make a bid here, make a stand for the first time in months. connell: quick todd, last hour, what you took away from it? >> i just think it was natural selling at the end of the day, connell. when you have a market that has been up so much in the last few days, you will see some reason to take profit. maybe that was a reason to take some profit. i think we've had early money
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come in. i think it is normal selling. i wouldn't take anything away from it negatively. melissa: blake burman live at the white house, more what seems to be sort of chaos there, blake. port chaos is one way to describe it. i don't mean to laugh at all. president going up to capitol hill, having lunch with senate republicans. he came back here to the white house, met with congressional leadership. even though you have all the activity, it is safe to say there was no movement whatsoever at all today. it sounds like that meeting inside the situation room could not have money worse. this was president's tweet shortly after happened. quote, left a meeting with chuck and nancy. total waste of time. i asked what happens in 30 days if i quickly open things up, will you approve border security which includes a wall or steel barrier. nancy said no. i said, bye-bye nothing else works. as the president sent out that
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tweet, chuck schumer, nancy pelosi were at stakeout camera at north lawn. they gave the play-by-play. >> unfortunately the president got up and walked out. he asked us, speaker pelosi, will you agree to my wall. she said no. and he just got up and said we have nothing to discuss. he just walked out. again, we saw a temper tantrum. reporter: fitch's global head of sovereign rating says if the shutdown lasts million march 1st, if issues resolving debt ceiling not taken care of after that, the u.s. could be at stake losing a aaa rating. talking about march 1st is a bit premature here in the beginning stages of january. then again, both sides are dug in right now. and there is no clear sight at to how this thing untangles itself anytime soon. melissa: i don't know. i heard nancy pelosi talk about people's credit ratings and country's credit ratings afterwards. that you know, like that is one
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of those threats that doesn't sound, i know we're supposed to take that very seriously but when you have people's lives at risk and other thing -- reporter: immediate worry is friday, 800,000 people might not get a paycheck. melissa: all kinds of stuff going on. blake, thank you for that. jonathan, todd back with us. people walking out of the meeting, have completely different versions what went on in there. i mean, you know, mccarthy came out afterwards, he said they had shown all the difficult versions they had of different offers and different proposals and how we could get there. chuck and nancy said no to all of it. we want it open. that is when the president says, everybody agrees on this part, he said okay, if i open the government can we then discuss border security and nancy pelosi says no. they said meeting over. todd, i mean, this is about as stalemate as you possibly get.
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>> are we really surprised what is going on with these guys? they have all dug in. and of course, i think that the democrats, they want to get it open. they want to start flushing more money through the system. they don't want to give money for the wall because they're anti-trump but want money flowing in so they all get paychecks, continue to spend, spend, make the deficit 25 trillion instead of 21 trillion. melissa: every single thing except the fence. todd's right. they want to spend on every single thing but do not want to spend money on border security, even though they said they wanted to spend money on border security, not the way the president does. they don't want to go give him that piece. at what point, i mean, it doesn't, they're not, they're not coming to the table at all as they're being given other things. i don't know how this plays out. and you know,. >> hard to tell how it plays out politically, melissa, i do think however, it could, fitch alluded
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to ratings cut potentially for the u.s. debt. i do think this could potentially start to impact us economically. if this exceed past friday, this will be the longest government shut down on record. i'll tell you one of the trends we've seen emerging last few days as this shutdown escalated is a weakening in the u.s. dollar against the canadian dollar, against the swiss franc, against the japanese yen. that could come back and bite americans as prices go up. add tariffs as well. i do think there is an economic element here. in addition to those not getting paid, if leaders cannot resolve this ongoing crisis. melissa: guys, thanks. connell. connell: we'll get to the other big story of the day. that would be unfinished business. no trade deal reached in beijing. progress is reportedly made, u.s. and chinese delegations are planning to meet again at higher level. january 22nd in washington. that certainly seemed to help stocks. edward lawrence from capitol
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hill with the latest. reporter: it went much better than the meeting at the white house. u.s. trade representatives office said success to moving things forward to the next step. the trade delegation is on the way back to the united states. again as you said, they will have the meeting, hoping to have the meeting. working setting it up for january 22nd. for that week. they're trying to get it done. in a statement released from the u.s. trade representatives office, quote, officials also discussed a need for any agreement to provide for complete implementation, subject to ongoing verification and effective enforcement. trade sources telling me two sides are very far apart. however, they are, chinese have not made any movement up to now, to actually change what they're doing, or change how they're doing things but they are talking about it. the white house believes they can still make a deal. >> yo the timing exactly what that will look like. i can be sure of we are moving a more towards balanced and
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reciprocal trade agreement with china. something that will benefit american workers. that is something the president will not back down on. >> also today the european trade commissioner here in washington, d.c., said she believes the administration will stick to their word. that no auto tariffs will be imposed as long as two sides are still talking. the two sides are talking on minister level. today u.s. trade representative robert lighthizer had a trilateral with the eu trade commissioner and japanese to talk about changes for the wto, specifically going after companies like, countries like china, that forced the transfer of intellectual property. this is the fifth such meeting the group has had. they are working towards an agreement how they change within the wto and other frameworks to stop other countries from doing that. back to you. connell: good summary, edward. i like you said that meeting about china went better than the white house. that went out on a him be.
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melissa. melissa: oil topping $50 first time in 2019. settling up 5%. phil flynn, at cme oil on the way back. look at that. >> i love it. it is showing economic optimism. when we saw oil prices crash. we saw the global economy falling apart. all of sudden we're seeing optimism. this rally came as we got somewhat bearish report showed a big build in gasoline inventories. a big build in dissill latin inventories. they are focused on these fed minutes where the fed is saying hey, listen, we'll not be raising rates. we'll be open to be patient with interest rate increases. that caused the dollar to go down. it gave oil a rally. who knew the fed could rally oil. they did late in the session, along with a lot other commodities like gold, silver, palladium back near record highs. it has been amazing day for the
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commodities. melissa: phil flynn, thank you. connell: we have more on that heated meeting we've been covering between the president and congressional leaders at the white house. the commander-in-chief got up and left the room at one point. that ended the meeting. more on that coming up after the break. melissa: speaking of getting along well, dividing billions, jeff bezos and his wife are calling it quit, what could be the priciest split ever. connell: yeah. ♪ delivers the news around here. ♪ liberty mutual has just announced that they can customize your car insurance so that you only pay for what you need. this is phoebe buckley, on location. uh... thanks, phoebe. ♪ only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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simple. easy. awesome. click or visit a retail store today. melissa: stalemate continueses. no deal after president trump walked out after meeting with congressional leaders at the white house where they said they wouldn't fund border security, even if he opened the government. that is according to republicans. everybody has a different version what went on. joining me to discuss,
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republican congressman jody hice from florida. thank you so much for joining us. so, i mean, first of all, what is your impression what happened over at the white house because there are bunch of different versions coming out? >> bottom line, zero dollars is no compromise. that is what the issues is. the president is acting in good faith. he has been acting in good faith all weekend with meeting after meeting. again nancy pelosi and chuck schumer and company are absolutely refusing to come to the table. zero dollars is not a compromise. it is not negotiating at all. therein lies the problem. melissa: well it sounds like what he said, because their stance before was open the government, then we'll talk. so he said if i sign these appropriation bills, then will you talk about border funding which includes the fence? she said no. i mean that is according, that is what kevin mccarthy said when he walked out.
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if that is the case, where do you go from there? >> you have just got to understand, that is what we're dealing with, the hatred for this president is more significant to nancy pelosi and chuck schumer and, i'm afraid, they're spreading that throughout the entire democrat conference. their hatred for this president is greater than their desire to protect the american people and secure our borders. that is beyond offensive. that is inexcusable. melissa: what if you went over to the filing cabinet, dusted off things nancy pelosi voted for before, like get the 2006 secure fences act, which we all know said it would pay for 700 miles of fence along the border. lindsey graham says put deals on the table that make sense. go get something they voted yes on before? >> yeah. and that proves my point. they have voted for this thing in the past. everyone -- melissa: but challenge them to vote for it again. could you logistically could you get something and bring it out,
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say, here is exactly what you voted for before, let's do this? >> i'm sure we could, but they have dug their heels in the sand so much at this point, for them to vote for anything that builds a fence or any kind of barrier or even technology is going to be viewed by them as a loss. so i don't see them at this point changing their position, and that is what is so tragic in this thing. melissa: now what? >> look, nobody loses, when we have a secure border. nobody. that is good for everyone in this country when our borders are secure. we're stopping drugs. we're stopping crime. we're stopping criminals and on and on. melissa: what do you do from here? what kind of pressure are you facing from home? what is the gameplan? what will you do tomorrow? >> well i assure you they are going to be facing pressure. we're hearing it from people ourselves. we are beginning to hear rumblings of federal employees who want to go back to work but they're beginning to point fingers at democrats for
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refusing to negotiate. i think that type of pressure is really what it is going to take to get them to the come to the table. zero dollars is not negotiating. the entire country is seeing this. melissa: stand your ground, which in your mind, sitting at the table waiting for them to show up, meantime you're not opening government? >> we'll have to see. there will no doubt be meetings right now to discuss what is the next step what is the next plan of action, seeing that democrats are refusing to negotiate. but in the meantime, yes, i mean, what is more important than securing our borders? the president has been resolved on this issue. our conference is as well. and the american people are. we all know we've got to have secure borders. at some point the pressure is going to heat up on the democrats. they are at least going to have to be willing to negotiate. melissa: congressman, thank you. >> thank you. connell: all right. meantime today in the news, a very expensive divorce. the amazon founder jeff bezos and his wife mckenzie ending
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relationship after 25 years of marriage. the news was revealed on jeff bezos twitter feed. we're not sure if they have a free up in not disclosed. bezos we're sure is richest person on planet earth with net worth of $137 billion. melissa: pay for the wall? , no? connell: they could pay for the wall. solves everything. melissa: throwing out ideas because there don't seem to be a lot out there. connell: would be funny. jeff bezos and his wife. >> crucial deadline for sears. could a last minute effort keep the iconic store alive? or will this be the end of the retailer as we know it? plus, historic new york city building essential to the skyline is up for sale. are there any takers for this 77 story skyscraper.
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connell: crucial deadline for sears. you might remember we started to
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talk about this story yesterday but today is the day. big deadline. chairman eddie lampert trying one last time to save the struggling retailer. deirdre bolton in the newsroom with latest on this. >> a bankruptcy judge threw a lifeline to sears holdings chairman eddie lampert. so lampert has another chance to buy the retailer out of bankruptcy. he had to make a good faith deposit today. by about 20 minutes ago. i am waiting for word to hear whether that happened. the good faith deposit was $120 million. the judge threw lampert a lifeline because without the extension, sears would have already begun to liquidate. what we do know in late december, as we've been covering on this network, sears really narrowly averted liquidation, after lampert made 4.5 bid through hess hedge fund buy the company. after 126 years in business, sears filed for bankruptcy in
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october. this retailer was once the walmart, amazon of its day, was less profitable in 2010. it has been struggling more than a few years. the independent board, sears creditors, wants to wind down the retailer significantly i will say because they want to make sure they get paid. hedge fund manager turned ceo, wants to keep 425 sears and kmart stores open. he thinks he can save 50,000 jobs at the process. most creditors want to sell off assets, raise as much cash as possible, reduce pretty much $5 billion of debt sears has right now. i will go over some of the brands, analysts say if they were going to get money here is where they get it from, kenmoore appliances, die-hard batteries, wrangler jeans. those are the three that keep coming up but what i will say the sears agreed to license the die-hard, kenmoore brand via
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amazon. in many respects consumers can go to the brands they really like. the next plan is january 14th, if lampert made the 120 million payment on time for today, january 14th become as live auction for some of the sales. back to you. connell: fair enough. let us know if you hear anything. we're 2minutes past the deadline. -- 27 minutes. deirdre bolton. melissa: iconic new york city chrysler build something up for sale. now we know what bezos could do with the money. they hired a real estate firm to market the skyscaper once the world's tallest building until 1931. abu dhabi investment council paid $930 million for 90% stake in the property back in 2018. connell: when you think of new york, the empire state building and chrysler building just in terms -- melissa: will you buy it? connell: leave it up to mrs. bezos in the settlement. that could be a direction to move. the president sounded the alarm
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but what is happening at the actual border? we'll give you a first-hand look north of tijuana as we come back. president trump is urging, trying to get support for his worder wall. things apparently didn't go well in a meeting today. we'll talk to doug schoen who joined the conversation on this showdown in just a moment. >> i don't care politically. i'm doing what is great for the country. i'm telling it is a very bad political issue for the democrats. that i can tell you. ♪ i treat my mbc with everyday verzenio, the only one of its kind that can be taken every day. verzenio is the only cdk4 & 6 inhibitor approved with hormonal therapy that can be taken every day for post menopausal women with hr+, her2 negative mbc. verzenio plus an ai helped women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai.
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connell: negotiations at the white house just totally breaking down over the last hour 1/2 or so. the meeting that took place in the situation room between president trump and bipartisan lawmakers came to an bankrupt end. the president walked out of the meeting after house speaker nancy pelosi would not agree to even negotiate on a border wall. so in a new op-ed came out today on foxnews.com, our next guest says we need compromise, not political posturing. that was before the meeting. doug schoen, former clinton pollster, fox news contributor. good luck with that, doug. >> thanks, connell. as he said we need compromise not political posturing. connell: we have enough political posturing. >> that's for sure. connell: it was a good piece that you wrote. your suggestion is noted, duly noted but we're not getting that anytime soon? >> sure. connell: what is the next stop? which party moves next? >> two moves will happen. one quick the other not so
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quick. the quick move i think the president is moving towards the national emergency and is going to say he is going to fund the wall on his own. big question, whether he can. whether it is constitutional. but i think we're moving in that direction. i think that is why he had the meeting today. that is why there was the speech last night. the democrats are waiting for defections from the republicans why i say, slow-move, for reopening government, rendering moot the issue of the wall at least. connell: idea, you may be right about the national emergency. the judge was here yesterday on the legal argument. >> sure. connell: let's leave that aside for a moment because you're making a political argument it sounds like, that is the move the president has left. not because it will work but because it would get the issue off the table, right? he could say i tried my best? >> i did everything i could. i took it to the supreme court. it is the court. it is the democrats. it is not me. it's a political solution for the president. connell: sorry to interrupt,
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speaking to his base again? >> precisely. i was about to say that, connell that is exactly to the point. he is playing to the 40, 45% who approve of him, theory of the case is, with that he can hold his support and ultimately win the next election. connell: to that point, about the 47% of the fox voter analysis after the midterms approved for the wall. which is important to point out that the wall is underwater so to speak in terms of support for the national audience, it is 53-47 disapprove. how does that play into advising the president on this? >> if it were me i would be opting for wall plus the dreamers. the president is taking a more narrow posture, trying to get 47 with them, figuring in a campaign there will be defections from the other side on other issues, negative campaigning as he did against hillary, but, that i think is his theory. connell: don't you think the democrats could get a little more out of him? could they get a dreamer deal if he wanted it now? >> i would hope so.
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connell: why not negotiate? >> because we have a liberal base, even more liberal progressive base, democratic party that doesn't want to negotiate with trump and that doesn't want to build a wall. to me, pretty simple. you build a wall, a fence, barrier. you do the dreamers. then say we'll move on to the 10 or 11 million illegals that are here, you got a god deal. connell: right. >> but that is too rationale for far left democrats and far-right republican is. connell: both side are dug in. seems obviously obvious, look at deal for daca and wall. >> right. connell: you're explaining politics of it. there is pressure on both sides. if so, how quickly does that impact how quickly he moves in. >> the polls are not with him on this issue and not with him on republicans. he feels pressure from cory gardner, susan collins, murkowski, i ask, mr. president, we can't sustain a shutdown. he knows a shutdown is tough to
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sustain when people don't get paychecks. they don't get refunds from the irs and the like. so i think he is is trying to move decisively quickly. the democrats playing a longer game. connell: set-up for the emergency declaration. >> correct. connell: says doug schoen. we'll see if you're correct. melissa. melissa: president trump urging action what he calls a growing humanitarian crisis on the border. the president is accusing the president of misinformation and malice. what is it actually like on the ground right now? fox news jonathan hunt in san yesterday sid drove, california with more. reporter: good afternoon to you. thousands of migrants from the central america caravan still camped outlined us across the border in two shelters in tijuana and they were among the very interested viewers of the president's oval office address last night. and despite the president very deliberately changing his language from calling the
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situation on the border just a security crisis to terming it a humanitarian and security crisis, those migrants didn't hear much that gave them real hope. listen here. >> we are usa we need to help our people first. i think they need to be helped but to ask the county for money, if they want to do it, open up their homes to these people that come into their homes. >> to see if the county putting in some effort to provide some compassion and humanity to those here seeking refuge, it is refreshing. reporter: obviously was completely the wrong sound. those are american citizens, not migrants. those are citizens who were attending a meeting of the san diego county supervisor's board where the plight of migrants who have already crossed have started asylum process, they are now waiting in the san diego area was being discussed. now let's see if we have the sound from the migrants actually
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reacting to president trump's address. let's see if we can play it here? it appears we have lost that all together. so what those migrants were saying, melissa is that they are not criminals as president trump has termed many of them of course. and this they simply want to seek a better life. the president obviously and supporters do not believe that. they continue to say among those migrants seeking asylum there are many criminals and worse. back to you. melissa: jonathan, sorry about that. our apologies on the sound. thank you, thanks for happening in there. connell: more news on the way with the race for disney's newly acquired regional sports networks from the fox deal, that is now getting a lot more interesting. charlie gasparino has been covering it from the get-go with inside details ahead on the surprising new bidder at the gate and the big media name they hope will join forces to pull
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out a win. charlie breaks that next. ♪
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connell: one of the hip-hop world's making a play for regional sports networks set for auction after disney-21st century fox merger? charlie gasparino has been all over the story. he learned the answer to that and has some other surprises. tell us about it. >> this is my first story involving ice cube as opposed to ice-t. ice cube is rapper, entrepreneur. he started a basketball league, big three, three on three playground basketball league. it features former nfl stars. what we understand he will make a major push, he is looking to main make a major push to buy 22 fox rsns, regional sports network with the auction by
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allen and company and jpmorgan. here is what we know. he recently held discussions with viacom, big media company sheri redstone. he has talks with viacom's bonn backish, to place a bid, helping him join him in a bid for 22 networks. we don't know the size of what he is is looking to buy. we know at the moment we're told by viacom they are not interested, though we understand that could change at some later point. but we do know that ice-t, excuse my, ice cube will discuss where he sits with this bid. he has approached viacom. from what we understand. he is looking for others. don't be surprised if you hear something about this in the next 24 hours because from my understanding he is moving fast. this has not been reported before, his interest, his talks with viacom have not been reported before. he did do a i believe a rolling stone interview he wants to bid
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on the sports networks. i will have write-up on foxbusiness.com. the fact he had serious discussions with viacom moves that forward. connell: interesting. ice cube, not ice-t. no involvement from vanilla ice. >> we're all laughing at this. melissa: no, no. >> i want to say this guy is serious dude. melissa: we know that. >> he is is an entrepreneur. he is a producer, in the rock and roll hall of fame. connell: that three on three thing i was skeptical about that. fox sports carries that. it is good tough v. old nba guys. >> here is one thing i told you tweeted out calling him a rapper. retweeted me moments ago i'm more than a rapper. i'm not kidding. look it up. connell: you're more than just a tweeter. >> i'm just correcting the record with you guys. he is a lot bigger than vanilla ice, let me tell you. connell: that goes without saying. that is interesting.
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charlie gasparino on ice cube. melissa: very cool. the commander-in-chief walking out of a bipartisan meeting in the white house. what happened inside of the situation room according to both sides of the aisle. that is next. >> the president literally called the question, he said, if i opened up the government quickly, would you agree to border security and a wall? the speaker of the house said no. and at that point president thought there was no longer any reason to be talking at this meeting. ♪ amazon prime video is now on xfinity x1.
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>> okay, nancy, if we open the government up in 30 days, could we have border security? she raised her hand and said no, not at all. the president calmly said, i guess you're still not wanting
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to deal with the problem. >> unfortunately the president just got up and walked out. he asked speaker pelosi, will you agree to my wall? she said no. he got up, said we have nothing to discuss. he walked out. again we saw a temper tantrum. melissa: did me, or did those two stories not match each other? tensions reaching a boiling point at the white house just about an hour ago. bring in joe concha, media reporter for "the hill." why you need cameras in the courtroom or in the white house as you said, because they are you wan see the threat how those people were talking in the same room, but there are very critical differences between what they said they said. democrats have been saying all along, mr. president, open the government, then we'll sit down and talk. don't hold government workers as hostage. from what kevin mccarthy says, he said, okay, if i open it,
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then in 30 days can we sit down and talk about funding border security? not a wall. but border security. and they said no. if that is the case, if that version of the story is true, where do you go from here? >> i don't know where you go, melissa, to be honest with you, we're all tribal, in safe spaces right and left, hard to see who is winning the messaging war. are independents in the middle? >> i don't know. boeing -- both sides seem dug in. trump, not talking 3 billion, 4 billion, we'll put one billion towards more troops at border or more guard at the border, right? agents i should say. i don't see anything. melissa: your first point is really, really good. last night there was all this discussion about they will both go up there to make this plea. and you want to see, you know, to who?
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because, who isn't decided, who isn't on one side? and is engaged, isn't so deeply enmeshed in their own family's problems, they're not focused on this any way, they have other things to be doing but anyone who has the capacity, spare brain to work on this, has already chosen a team, don't you think? >> right. they choose a team and for different reasons. on the democratic side, maybe they don't believe in a wall. or, maybe they know if they defeat president trump here, if he somehow has to give in, maybe the irs can't send back tax returns anymore if this goes long enough? you start hearing stories of people not getting paid, he loses that part of his base, loses that base, no way he wins in 20206789 -- 2020. we are already in the 2020 election cycle. elizabeth warren is drinking beers. 25 to 30 democrats will declare as well. political aspect makes this
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impossible to negotiate. democrats say they have most of the media on their side. if you're a republican, good news, influence of media is fraction what it used to be. we saw media coverage last night of the address just go off the rails because they think they, set it up that the president was going to lie. they had to fact check him in real time. the address was actually given, there was nothing to fact check. everything basically checked out. we saw fact checks, i don't know if you saw "the washington post," it was hilarious. president trump said 266,000 illegal aliens were arrested over last two years, their response and fact check was, i'm quoting now, the number is right but it is misleading. they go on to say, basically, well you're including reentry and entry. how can you include that? a crime is a crime. that so on and so on. so the democrats are relying on fact that media has their bach. president trump is backed up for lack of a better term a wall.
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he has to get this done, i know it's a long time away in 2020. melissa: you pull back to 3,000 feet, bigger picture tell us how it is playing? very hard to tell us here from new york and inside of a studio, what the broader, how everybody else is taking in what's going on? what is your take on that? >> i don't think people are really engaged in this particular story yet because people at home are not really being affected by this shutdown. melissa: right. >> federal workers are obviously. the garbage is still being picked up. the lights still turn red and green. schools and buses are running. all the things we depend on government as regular people, we haven't seen any effect. when the effect gets to irs tax returns not coming back. you will see the public engaged. it affects them directly, melissa. melissa: joe concha. good to see you again.
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connell: california is put on notice. president trump reviving a threat to cut funds for wildfire relief for the golden state. there is fallout as you might suspect. we have that next i landed.
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are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. this is a stern warning for the state of california. president trump ordering fema to withhold the state's wildfire relief funds unless it improves its forest management. we are on this from l.a. what's the latest? >> well, to give you a little bit of a recap of why this is such a big deal, californians spent over 1 billion dollars just to put out fires that tore through the state in 2018, and accuweather's latest estimate says the total economic loss for the state from 2018 fires will hit 400 billion dollars. you also have pacific gas and electric the state's energy company at the center of several lawsuits over how these fires started. they are reportedly mulling bankruptcy. california has looked to the white house for relief and
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federal aid from fema, but right now, that may not be an option. the president saying he isn't convinced that california is managing its forests properly. tweeting today, quote, billions of dollars are sent to the state of california for forest fire that with proper forest management would never happen unless they get their act together which is unlikely, i have ordered fema to send no more money. it is a disgraceful situation in lives and money. the newly sworn-in governor of california gavin newsom admitting that the state does need to make some changes and work on wildfire prevention, tweeting back at the president, saying mr. president, just yesterday oregon governor brown and i sent a letter asking the federal government to work with us in taking on these unprecedented wildfires. we have been put in office by voters to get things done, not play games with lives. he also says that he's already taking action to quote modernize and manage our forest and emergency responses. the people in california should not be victims to partisan
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bickering. federal funds have already gone to the state to help fire relief efforts. the president issued a disaster declaration during the camp fire this fall. that freed up some federal money. california has also passed legislation to modernize their firefighting -- or forest management efforts, but the president today doesn't seem convinced that the state is really doing enough to justify billions more dollars in federal funds. connell? >> when he talks about getting their act together, it's not exactly clear what that would mean; right? >> right we're not sure with his twitter feed. it's pretty obvious the president has had discussions with the governor and look agent the forest management issues here and -- and looking at the forest management issues here and he doesn't think they are doing enough. >> we will continue to follow it. thank you. meanwhile we keep watching this shutdown in washington -- partial shutdown government stand off wall disaster --
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>> i know, it is not fun. >> disaster, you hit on it. doug schoen might be right, the emergency declaration might be the play politically. we will see if that happens. >> in the meantime maybe they will sort it out on bulls & bears which starts right now. david: the shutdown showdown reaching a boiling point on day 19, fireworks in key meeting with president and top congressional leaders of both parties. we are live at the white house with the very latest. i'm david asman thanks for joining us today. joining me is the panel today. well, the president apparently walking out of a bipartisan meeting this afternoon with top congressional leaders. let's go straight to edward lawrence at the white house. what happened >> it was a tale of two views of this same meeting. president donald trump did walk out of the meeting that he had called with house and senate

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