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tv   Cavuto on Business  FOX News  January 23, 2010 10:30am-11:00am EST

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>> do you think because scott brown ended democrats agenda to spend your green is out, think go. quick reaction from my buddies, terrell pain and dagen mcdowell and the doctor. charles, i don't see a lot changing here. >> you know what? the president's going to regroup, no doubt about that. but we saw how much he hates business business. we felt the wrath when he talked about wall street. he's determined to get this done. you have tom harkin with a bill to get rid of filibusters. anyway, but here's the. >> a simple majority will do it. >> the point is they'll go back to the drawing board and if anyone thinks its dead they're
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out their minds. we're not going to see this completely die. >> friday the president seemed to be putting the pedal to the medal indicating there's no blame on his part that the long process of getting things done, special interests. aimed at exploiting fears. that's what go on, not just people fed up with him. >> their attitude is we're going to push ahead but now they need to get the republicans onboard in the senate. it's not filibuster free anymore. >> but it could be. you have a majority in healthcare, you could ram this through. >> but they don't want that because there's enough division in the democratic part. >> so you don't think they could get a simple majority? >> no. on certain things. to the point of the closed door which you highlighted, the republicans don't want to eat what they've been cooking regardless of how they gussy it
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up with parsley. >> not oregano, parsley. among many crack pot theories, the word has become radioactive. it has become the third rail. and even piecemeal efforts to guarantee coverage for preexisting conditions that both parties agree on but no one wants to touch for fear of going back to constituents that they voted on something regarding healthcare and it's bad. so this is dead. >> your crack pot theories are usually your best ones. i think you're right. >> that's a tragic commentary but go ahead. >> i'm sorry but i tell you when i disagree with you too. i think the politicians realize there's so much fear and uncertaintydy and doubt thrown up about the healthcare bill that their constituents began to hate it. the american people didn't like the bill.
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maybe they didn't know exactly why but they didn't. i think, however -- by the way, nancy pelosi said the republicans don't want merry christmas. that's largely true. having said that there's some that do want reform and legislators, who are professional legislators, will say what's in the two bills that it pal table in a bipartisan nature and pass a bill we can agree on. isn't that a good statement about our democracy if they could do that? >> i don't know. it's a statement something's change. bob you run businesses yourself and i don't know whether it's the pleasure, the honor or the scary past of reviewing people. if you correct someone and say you're doing this wrong, a lot of times people being reviewed, they get their shoulders back
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and they don't like the correction and won't own up to the fact this is a problem. and you can come up in repeated reviews. three to date have said this administration and congress, we don't like what you're doing. change it, we've given you this review and we don't like it and by the end of the week, the president is digging in her heels, nancy pelosi is digging in her heels. harry reid, i don't know what he's digging in. i wonder what that says. >> that's the initial knee-jerk reaction but they're going to get an ear you will from constituents because the story of the election in massachusetts, to your point, especially when connected to new jersey and virginia it's not just healthcare but the process to get it down. it's not just the issue itself but the back door deals happening. that's the message -- >> i think charles is right. i don't think they're going to
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change that. i think what they're going to do, whether it involves healthcare or stimulus or more aid, whether it involves whatever, from cap and trade to you name it, they're going to say maybe we have to be more vocal or explain to people what we're doing but they're still going to do it. >> one of the problems is you have a bunch of sycophants telling the president we didn't sell it right. even though every single day you were on television, the people didn't get the message. >> you don't see him having a clinton moment where -- >> absolutely not. friday he talked about the new jobs bill. it the first stimulus package a jobs bill? we know it wasn't. >> hold on a second. >> go ahead, adam. >> if we call people names, at the beginning of this process, the president and democratic leaders ship went to the republicans and said, healthcare's important. the president was elected on. let's do a bill. >> then they started --
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>> they shut the door. they shut the door. >> we're not interested in working on it. >> no they shut the door and made their own bill. >> let me finish. >> no i'm not, what you're saying is wrong. >> wait a minute, you're not the host. >> it's not wrong. they got to a point they weren't talking to each other. we want them to talk to each other. >> my only point, i want to bounce it off of you. i don't know if that lesson has been learned. when the president is saying essentially this is a result of partisan politics, armies of lobbyists and stupid people -- he didn't say that -- believing the partisan politicians and armies of lobbyist and not smart, average joes and joans saying hell with this, i don't know if that's registering. >> it's clearly not registering with nancy pelosi but what is it going to take? it's registering with the republicans. watch them vogt vote just in a line.
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>> so even on the little things on healthcare reform or stimulus -- they're going to say no, no, no. >> i believe that will happen and another thing -- >> we're proud of that? >> to your point, adam, you said republicans don't want healthcare reform. that's falls, they want the reform the american people want reduce costs which none of these democratic ideas have done. >> bob, do you think strategy -- if you're a republican and looking at that and you say we went a long way torpedoing their approach to healthcare, now is not the time to come up within alternative. they might wait out the clock. >> i think the issue is exactly that. i think it's going to be step back and gridlock is good and we're going to get nothing major coming from anything in washington. nothing dramatic. >> i don't know if in this case
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gridlock is good. you have to get past a lot of big problems. >> i think the way you get past that is cut costs and make it dramatic and a sense of urgency. i think with this, it will create a sense of urgency and force a decision. >> i think that's what we were discussing, it doesn't. that's your concern. there's no sense of urgency. >> there is from the president to resell this and blame it on everyone but himself. at some point i says to say i messed up, misread the public and -- >> never on earth. the power of making excuse us. i say its a thyroid condition. >> when we come back, a weight joke. stay with me because i'm not going to repeat this. scott brown's political rally about to become a jobs rally. how the new massachusetts senator will get americans working again coming up were. first, president obama's bank bashing plan is all about risk.
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should he be looking at risk takers a little closer to home? ♪
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the visit comes on the same date u.s. marine corps officially ended its mission in iraq handing over duties to the army. britain raising their threat level to severe meaning an attack is highly likely. july it was substantial, the change is coming days after the country's suspended direct flights to yemen where the alleged christmas bomber trained. there's no intelligence suggesting an attack is imminent. >> wall street taking billion dollars risks. that's not okay. washington taking billion dollars risk is fine. president obama calling for more rules to keep banks from taking more risk. dagen you find something hypocritical here. >> to quote a famous man, you, look in the mirror. these politicians and these leaders in washington, they only
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need to look out the window and see fannie mae and freddie mac, government created monstrosity that are not on you think sam's balance sheet. $5 trillion in mortgages we now have unlimited losses as american taxpayers quietly done on christmas eve. >> they got a pass. >> they get a pass and they got their sights on wall street. those are the bad guys. the bad guys are right where they eat, live, sleep and work n d.c. >> bob, it's a great case of reflecting and republicans do it too but this is the day after the election and you're zeroing in on banks. they're very convenient foil and very convenient gifted that keeps giving. >> it's a very populous approach as you said. everyone loves to hate wall street. the naturing part of this is me was about the size.
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no more can we have these banks, the financial institutions growing. as dagen said, my gosh, the budget deficit spiraling out of control, the size of government out of control and all of a sudden the government is telling financial institutions they can't get bigger. it's like i wouldn't throw that first stone. you might be living in a glass house instead of the white house. >> what do you think? >> we know the populism part but the argument they betrayed america is newspapers. if we talk about tarp, the president gave taxpayer money to failed auto businesses. i don't think americans want the that. he gave a blank check to fannie and freddie. i don't think americans wanted that. if anyone is betraying the american people, it's the president. >> do you think the american people wanted, regardless of the need at the time, the banks get
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blank check? >> they didn't. but one thing -- listen, the banks fulfilled their obligation. they got the money and paid it back with interest and we're saying they're the villains through recklessness but the really villains are the white house. the politics of division is keeping this country down from the only -- i would not have minded this as much if you were going to say what's good for the goose, i'm going to tax the gander and go after everybody. i'm going after fannie and freddie and we're all going to do this just as with healthcare. everyone will pay their share fair but when you say it's not business as usual and sound like business as usual, that is what piss americans off. >> well, i'll say it now and every week, i hate it when the president uses populous language and crafts these suggestions in punitive terms.
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there's no need to punish anybody. what we need is new regulation of the banking and nonbanking industry. we need it desperately and need it had for years. we should have good legislation to get good regulation. i point out we already have very good regular racing of the government. checks and balanceses among the branch of government and the voters. we saw it happen this week, we regulated the healthcare bill by aye eliminating the filibuster proof majority. they have the ability to regulate government, we need better ability to regulate the financial system. >> that assumes the government is listening. >> exactly. >> eventually they have to but they can be stubborn. >> that's a good thing that things don't happen immediately. >> all that politics two days after scott brown wins, the
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president changes tax and talks about financial reform and the stock market just tanked. >> the good thing about going after bankers is for a while they let up on fox. >> when we come back, conan o'brien fails and gets a $45 million parting gifted. imagine if conan were a banker. what if i told you, in a way, he is. not that long ago, many families were priced out of an overheated housing market. but the times have changed. get the facts at today, the dream of owning a home seems more attainable than ever. nobody sells more real estate than re/max. visit today.
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>> neil: down 50%, 45 million
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bucks. sign me up and fire me. conan o'brien's run on the "tonight show" ending and he is collecting. the comic andties staff getting a golden parachute that would make a fallen c.e.o. blush. not bad for someone who cut the show's ratings in half. general electric which owns nbc got backup help from the federal government during the financial crisis, so dr. bob, in a way, this is rewarding a beneficiary of federal large ess. >> two set of standards. politician and washington, d.c. love to hate wall street. this happened on wall street, the outrage and call for congressional hearings would be all over the place but they love to love the celebrities. they love the movie stars, the tv personalities so look the other way. >> neil: maybe but not the fox
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tv personalities but most the time you're right from the outrages part is thing of the money we pay these people. they're reading a script someone else wrote. >> what do you mean we. you don't pay them a dime. >> we pay all this money to people -- keep going. [ laughter ] >> all right. >> neil: charles, it is what it is. no outraged. >> maybe the c.e.o.s were funny they would get more. >> to bob's point, conan a cool. somebody working at aig or goldman sachs managing a few billion dollars with 100, 200 people under them and multinational deals, they're generally crooks. listen, the president goes to the basketball games and watches the wizardings. this week he says the obscene amounts much money wall street makes adds no value to the
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economy. when you get those sort of statements -- i understand why the average person might have kin ship. you feel good about someone who came from a hard neighborhood and made it but there's a double standard. >> neil: i hate it when you have done it because you become a primo competitor to me. dagen, this is a valid point. >> there's a double standard and short memory and people forget ge is ge capital which was to the tune of tense of billion dollars, that debt backed up by us. >> ge says we didn't get a bailout, we had our money backed up but it was taxpayer money. >> we fdic'd them. >> absolutely. they might not be in business today. >> if which didn't get them insurance they would --
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>> they raised a lot of money. >> adam, what do you make of that. don't start trying out for a conan tv guest appearance. >> ge goes bankrupt, and now conan's a credit for in bankruptcy court. you're -- it's almost as if we're espousing that subsidiaries of companies not honor contracts. i'm aren't outrage. people with contracts should be paid. >> even banks rescued by the government. >> i think so. i'm -- we'll have the opportunity to -- >> you're a conundrum. >> i'm against the -- >> we're happy we're not making outrage about the conan thing because we're happy he's off the air for a while. >> but if he comes to fox, all bets are off.
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thank you very much. very good perspective on all this and of course charles won't be a guest on that show anytime soon. this guy shocked massachusetts and capitol hill. now our gang has the ultimate underdog stocks that give you shocking profits.
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just like scott brown, our gang says thee dog stocks will make money for you. amd? >> western digital disk drive
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manufacturers are always underdogs, benefiting from a quiet but real pc upgrade cycle. c gate had a shocker earning surprise last week and western digital will have a similar benefit. >> we're forcing the scott brown analogy but it's okay. charles? >> just like adam, i love this space. if somebody told me not to buy stocks near the highs, this is one is closer to the highs than sea gate. >> this is me you're talking about. >> what are you doing? >> i like xerox, the american success story with good earnings this week. this is a 40, 50% move this dreary dr. bob? >> like charles, i just don't like this stock. the reason they have earnings is their manufacturer. it's layoff and cost cutting anddown sizing. i'm not happy with this but charles and i are great friends. i like him. >> at least ben stein doesn't
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say -- he says i don't even like him. he adds insult to injury. >> i got the one that used to be the top dog and now the biggest underdog. citigroup. very simple, we're getting a steepening of the curve. the high end goes here because of a boom in the global economy. anyone can make money playing the spread. >> what are you talking about? >> even citigroup can make money in that environment. >> adam, i don't know what he's talking about but something that structurally saves the day. >> every dog his its day and that dog had a long time ago. big bank are not favorite in this environment and this is the worst of the big banks. >> neil: you don't even know. i know the princes saying it is the year, you either get it done


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