tv Countdown to the Closing Bell With Liz Claman FOX Business March 23, 2016 3:00pm-4:01pm EDT
hold a meeting on march 31 to address security issues. specifically airline security issues in the wake, of course, of these attacks in brussels. we're going to continue updating you throughout the next hour, ashley webster is in for liz claman, and i'm sending you over to him now. >> trish, thank you very much. we appreciate it. and indeed, an international manhunt under way. more than 24 hours after the deadly terrorist attack in belgium as evidence grows that links the islamic state to the brussels attack and the paris attack last year. global authorities searching this hour for the man seen here on the right with the two terrorists who blew themselves up yesterday, killing 34, woungd more than 200. howard gutman is the former ambassador to belgium. he's in brussels as we speak. he'll tell us how isis terrorists were able to go undetected for so long? and general bob scales will tell us if this attack is different? global terror is a big
campaign trail issue as well. donald trump and hillary clinton won resounding victories in arizona yesterday, but does either candidate have an advantage when it comes to the war on terrorism? former senator byron dorgan, former congressman pete hoekstra and ted cruz's spokesman ron nehring will react to the latest on the campaign. the market at session lows. the dow off 80 points, as oil and gold tumble on this wednesday. less than an hour to the closing bell. i'm ashley webster in for liz claman. let's start the "countdown." welcome back to "countdown," markets trading near session lows as we head into the final hour of trade. dow off 93 points. it was down earlier 80 points, losing steam as we head to the closing bell.
energy wearing on markets, 4% below. names like devon energy, marathon oil, chesapeake energy, console energy bringing down the markets. gold names not seeing much glitter, future contracts falling to lowest levels in nearly a month. seabridge gold, all down by 8%. one name soaring, virgin america. why? moving high or reports it is exploring a possible sale of some or all of the company. that stock up 13.5%. we'll bring you details on that story as it develops. now to the very latest from the brussels terrorist attack. the state department saying moments ago about a dozen u.s. citizens were injured in yesterday's attack, and the number of other u.s. citizens including u.s. government and state department personnel and their families remain unaccounted for.
what we do know, three mormon missionaries from utah were seriously injured, one in a medically induced coma. there are two siblings from greece with ties to new york who are still missing. sasher and alexander were in the brussels airport at time of the attack, they have not been heard from since. as we speak, authorities searching for one terrorist believed to be on the run as the u.s. now joins the hunt. gerri willis joins me with the very latest on this obviously developing story. gerri? >> reporter: thanks for thamp the links between the terror in paris in november and the terror in brussels just this week becoming closer and closer. what we know now, the suspects in brussels and paris, both those attacks belong to the same cell linked to isis. isis has claimed responsibility for this most recent attack in brussels. and police, of course, the entire city, brussels shut
down, but police raiding multiple locations, they are continuing the dragnet looking for this fellow that you showed in the cream jacket, najim laachraoui. this fella built the bombs, the nail-packed suitcase were used in the tragedies just this week. police finding virtually a bomb making factory. 33 pounds of explosives in the homes of one of the suspects. this is the same type of explosive use in the paris attack. it is called tatp, an unstable hydrogen peroxide based explosive, and they found a ton of it in brussels. now, before i go here, the two brothers, khalid and brahim, the two fellas next to the fella in the cream jacket, attention turned to them as well. brahim left a note on the
laptop which he left in a trash can which read always on the run, not knowing what to do anymore. being looked for everywhere, not being safe any longer and that if he wants around any longer, he risks ending up next to the person in a cell. a little contorted, a little difficult to understand. questions about this, i'm sure we'll know more in coming days. one final note here, secretary of state kerry saying that the u.s. will join the manhunt. back to you. >> like putting pieces of a jigsaw puzzle together, not very easy. gerri willis thank you so much for the latest from brussels. europe very much on high alert as questions are asked about the ability of law enforcement to actually track terrorists and prevent future attacks. so what is the atmosphere like in brussels today and where do investigators go from here? joining me by phone is the former u.s. ambassador to belgium, howard gutman. ambassador, thank you so much for joining us. we're the day after these
horrible deadly attacks. how would you describe the atmosphere in brussels today? >> so it began to get back to normal, ashley. people making their way to work with some disruptions on the metro system. there were closures, but there is a general feeling of shock, feeling of depression, feeling perhaps that the government let them down a bit. it's sort of the closest thing i see to it is exactly how we felt on 9/11 when i was in washington. once you got over the fear that something was about to blow up again, a depression set in and a sadness, that's what's hitting belgium today. they canceled a national football game in brussels stadium because of security concerns, and just on everyone's mind. the security presence has been very high for months, but even higher, army trucks on my corner in belgium. we were on the block next to the parliament, and there are
army trucks there, and uzis in lots of places. >> ambassador, you mentioned a feeling among citizens that the government let them down. there is growing criticism of the anti-terrorism efforts on behalf of belgium on behalf of brussels, those within the units admitted we don't have the resources, it's very difficult for us to track these people. are they overwhelmed? are they capable of preventing future attacks? >> well, let's remember, first of all, all of europe and america are overwhelmed because of the returnees from the middle east. probably 500 returnees from belgium that went to syria and came back. takes 10 people to monitor one. you need 5,000 people working to monitor them all. the reason this occurred in brussels is not because of the lack of security in brussels. that's like saying washington and new york were less safer
than philadelphia when we got hit on 9/11. that's not what happened. when you want to hit eu and the capital of europe just like the capital of america is washington, you will hit brussels. this could have just have easily happened in france or germany or the netherlands, each an hour from the site of where the attacks occurred. an hour tried do it in germany, france or the netherlands, but you want to do it in the heart of europe. there's no way to track the returnees and we know in this case, there was a failure of intelligence by two groups. one by belgium because the cell has been operative since before paris. known about it since paris and couldn't take it down. the other is global intelligence. the guy they're looking for now, spent 2013 in syria. he came back. shame on all of us if we have a returnee coming back from syria into bomb making and nobody can figure that out. >> yeah, very disturbing indeed. ambassador gutman, thank you
for taking the time to speak with us. >> my pleasure, all the best. >> thank you. how can the rest of europe and the u.s. learn from the mistakes made ahead of yesterday's attacks? for that, joining me is retired army major general and fox news military analyst bob scales. general, it is frustrating to try and capture and track these terrorists, but it feels to me as though we could have done or certainly the belgium authorities could do a better job when they're after one individual in particular, saula -- salah abdeslam walked past security officials. >> none of what you just said could happen by individuals. this is not a loern lone wolf. this isn't as depicted as a
hurricane or tornado, no. what this speaks to, to your point, is a community. is a network, is an intersecting group of radical muslims who co-opted parts of europe, whether it's paris or brussels or berlin or hamburg, it doesn't matter. more than just a war against individual terrorists, war against a community that could harbor terrorists for months. that could support the sophisticated cooking of bombs, that can move with the ratline, terrorists back and forth from syria to europe. no, it's a different world, ashley, what happened today acts as exclamation point to make the point. >> what we can assume is there are very likely other terrorist cells out there. what is the threat to the united states? do we have those cells here right now? >> that's a great -- that's sort of the big question here
in the united states, ashley. if the terrorists can build a community, several communities in europe that are so successful, what about the united states? are there, say, muslim communities in places that have high densities of muslims do the same thing in this country? if there were, given the current political conditions in this country, would we know about it? that's what makes americans uneasy. not the fact that there may or not be a community conspiracy in the united states, it's just that i don't think the american people have any confidence that if this sort of thing were going in this country, that they be told about it. >> all right, we'll continue to follow it. it is disturbing. general scales, thank you so much for your expertise in joining us today. appreciate it. take a look at market at session lows, nike not helping at all. dragging down the dow. the dow off about 84 points at this hour. nike down almost 4%.
the air let out of nike stockor. four brokerages cut the price target, reporting lower than expected third quarter revenue as a strong dollar hurt international sales. and the strength of under armour in the united states not helping either. donald trump and hillary clinton extend leads as front-runners after solid wins in arizona, but will tuesday's terror attacks turn the tide on the campaign trail? former senator byron dorgan and former congressman pete hoekstra answer that question and so many more next on "countdown." [alarm beeps]
♪ ♪ the intelligent, all-new audi a4 is here. ♪ ♪ ain't got time to make no apologies...♪ we ship everything you atcan imagine.n, and everything we ship has something in common. whether it's expedited overnight... ...or shipped around the globe, ...it's handled by od employees who know that delivering freight... ...means delivering promises. od. helping the world keep promises.
hii'm here to tell homeowners that are sixty-two and older about a great way to live a better retirement... it's called a reverse mortgage. call right now to receive your free dvd and booklet with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money... and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today, you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home and here's the best part... you still own your home. take control
of your retirement today! . ashley: from the sports world to breaking news, alex rodriguez planning to retire after the 2017 major league baseball season. the 20-year major league vet telling espn after his contract expires, he plans to go home and be a dad. a-rod, retiring in 2017. despite the terror attacks in brussels dominating the headlines yesterday, was a night of presidential primaries here in the u.s. donald trump and hillary clinton both adding arizona to their arsenal. this as terror has become a focal point of the 2016 election. i'm joined by former democratic senator and congressman from north dakota byron dorgan, and
former republican congressman from michigan peter hoekstra. thank you, gentlemen, for being here. byron, begin with you, hillary clinton wins arizona but bernie sanders won more delegates yesterday by winning utah and idaho. why can't hillary shake off bernie sanders. what does that say about her campaign, if anything? >> well, you know, bernie's drawing big crowds, and i assume he's going to go all the way to the convention. i think hillary is going to be the democratic candidate. she has a substantial delegate lead and will probably increase that lead. it's competitive and i don't think anybody expected that to be the case. i think hillary will be the democratic candidate for president. ashley: byron, because bernie sanders won't go away does, that push hillary further to the left to pick up supporters and ultimately hurt her if she goes onto become the democratic nominee for president? >> we'll see. competition always affects how
you reality to things. hillary clinton is a pretty well-known quantity. been in the public stage for a long, long time, spelled out position issue ones in a significant way already. democrats who are choosing their nominee know hillary clinton, know what she stands for and know what kind of president she would make. i think in the end, and look, bernie does a service i think. competition is always good but in the end, i think that hillary clinton is going to be nominated, and it will be our candidate for president. ashley: who shall we expect her to face? let's go to peter. peter, donald trump picking up arizona, a key state for him, but ted cruz did pick up utah fairly handily. donald trump needs to win 53% of the outstanding delegates to get to the 1237. do you think donald trump can do it? >> i think it's going to be -- he's got a difficult path. it's clearly easier than the path that ted cruz or john kasich has, but for donald
trump to get to the 1237 is going to be a challenge. we're going to be going into states where john kasich should be able to improve his numbers, and so there's a very good chance we'll get on something we haven't seen in a long time, which is a multiballot convention in cleveland in july. ashley: peter, to follow-up, does terror make donald trump say we need to take a strong stand? >> the continuation of fight against isis and the lack of progress plays into donald's hands, it says washington is broken, they can't win this war. it perhaps plays into the hands of john kasich, because john kasich is the candidate that has 18 years of experience on the armed services committee, and brings a depth of foreign policy, background and experience, so each of the candidates will try to stress
their strengths and foreign policy will move to the forefront and we'll see exactly how it plays out. ashley: do you think, byron, that the democrats relish a hillary-trump primary race for the president? >> you know, look, i don't know what's going to happen this year. i think hillary is going to be elected the next president in. the last 24 hours think of the words we heard. this morning from donald trump, ted, you're a liar, from ted, donald you're a coward. let's bring back torture they say. ban all muslims coming into the country now. i think that's shameful. that is not a thoughtful approach to good public and sound public policy dealing with america's security. so you know, what i hope is that we'll get two qualified candidates from -- one from each party and have a debate with serious people talking about real issues that are important to the american people. ashley: peter, respond to that. we saw ted cruz and donald
trump getting into an argument over their wives. there was an ad showing donald trump's wife from ten years ago, kind of a racy picture she did for a magazine, and then donald trump threatening to spill the beans on ted cruz's wife does. this help either candidate or are people turned off? >> doesn't help either candidate, and this is one show where you'll find republicans and democrats agreeing. we need a much higher level of debate. i agree with byron. this is a critical election. we need two very serious candidates, having a very serious discussion about the issues, both domestic and foreign policy so that the voters can go to the polls in november fully informed and make the decision that they feel is best. ashley: very quickly, peter. we're feeling the love today. jeb bush endorsing ted cruz today. make any difference? >> probably not, if endorms
made a difference, jeb bush would be the runaway nominee today, and it would be jeb bush versus hillary clinton. >> very, very interesting. gentlemen, thank you, both, former senator byron dorgan and former congressman pete hoekstra. keep it on fox business for the 2016 race. lou dobbs will talk to donald trump at 7:00 p.m. eastern, always interesting. don't miss "lou dobbs tonight." coming up next, president obama criticized for doing the cuban wave at a baseball game with raul castro as europe is dealing with the brussels attacks. what the president is dealing with after landing in argentina late last night? do you think the president did the right thing by going to the baseball game yesterday? leave a comment on our facebook page. "countdown" is coming right back.
ashley: welcome back, everyone. president obama speaking at a town hall with young argtinians, the topic is the relationship between u.s. and latin america, a young crowd he's speaking to and taking questions. two decades since the u.s. president visited argentina. in light of the brussels terror attacks, many are questioning the timing of the trip. obama did address the issue how the u.s. plans to handle isis. fox business' blake burman with that part of the story. blake? >> reporter: hi, there ashley. president obama did try to silence the critics in argentina. his response yesterday in cuba to the brussels attacks was underwhelming. you will remember in less than a minute the president spoke about brussels for six sentences, and then a couple hours right after that went to a baseball game. pressed by reporters at a news conference in buenos aires earlier this morning, at the news conference earlier this morning, the president left no doubt as to his priorities.
>> i understand why this is the top priority of the american people, and i want them to understand this is my top priority as well. it is the top priority of my national security team, the top priority of our military. the top priority of our intelligence officers. the top priority of our diplomats. >> reporter: during that news conference, the president took on ted cruz, the republican presidential contender reiterated earlier today he would carpet bomb isis into oblivion. that's the way he put it. president obama was asked about cruz's comments, he called them inhumane, contrary to our values and a recruiting tool for isis. ashley: may be the case but ted cruz tapping into what he's hearing on the campaign trail. blake burman, appreciate it. breaking tech stories making headlines today. adam shapiro with today's tech minute. adam? >> reporter: there's a report
that an israeli firm is helping the fbi unlock the san bernardino terrorist iphone. the company is called celebrate is a provider of mobile forensic software. the justice department was supposed to go to court against apple tuesday but the trial was postponed. the government backed off after they said they may have figured out a way to crack the phone without apple helping. celebrate officials declined comment. uber will pay you to hack into the software. they're asking hackers to find weaknesses in computer communications systems, in return cash bounties. the concept of bug bounties nothing new. how mainstream firms look to outside help hackers to protect the system. google's cloud business, home depot is moving data to the company's cloud. that's a victory for google as it tries to gain traction with more traditional firms. back to you. ashley: appreciate that.
another day of primaries come and gone. donald trump picking up a big win in arizona, but ted cruz running away with a victory in utah. senator cruz says he's the candidate that can unite the republican party, not donald trump. but is it too little too late? cruz campaign national spokesperson ron nehring is here to make the case for a cruz nomination. the man himself, ted cruz joined maria bartiromo to talk about his abilities to unite those voters. >> 65-70% of republicans nationwide recognize donald trump is not the best candidate to go head-to-head against hillary clinton. donald loses to hillary and i beat hillary. that's why we're seeing republicans coming together and unifying. it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network,
closing bell. the dow dropping off the session lows, not by much. all about oil, the inventories building more than expected. that's hurt the energy sector and brought down the dow, off 75 points at this hour. back to politics. senator ted cruz celebrating utah win and endorsement from former candidate jeb bush. >> donald's foreign policy is isolationism withdrawing from the world. we need to be standing with our friends in europe. we need to be standing with israel, not withdrawing and showing weakness and donald, you know, it is striking that donald's foreign policy is to the left of hillary clinton and barack obama. ashley: i'm joined now by cruz campaign national spokesman ron nehring. thank you so much for joining us. want to do math with you first, based on the outstanding
delegates, your man, ted cruz would have to win, almost 83% of the remaining delegates out there in order to get to the magical 1237. right now at 465. how is he going to do that? >> well, we're compete in every single state, coming on the heels of having a great victory in the state of utah yesterday. we saw donald trump go there, we saw john kasich spend a tremendous amount of money in utah trying to keep us under 50%. none of it worked. we walked away with 70% of the vote in that state. we're going to draw a contrast between donald trump and ted cruz. you saw yesterday when donald trump has indicated that the united states should reduce its role in nato and the like. these are just statements which show he's not serious to be the commander in chief of the united states, and not in a position to lead the fight against isis going forward. i think as we continue to focus
on the issues and focus on the contrasts between ted cruz and his outstanding qualifycations to be commander in chief and the president versus donald trump's erratic statements on one issue after another and continued consolidation of republicans behind our candidate. jeb bush coming on board. utah senator mike lee. this breadth of the republican party from jeb bush to mike levin and mike lee shows the consolidation that we like to see. ashley: your candidate has come under fire for patrolling muslim neighborhoods. how do you defend that? he's it pushback from muslim communities saying wait a minute, you shouldn't pick on innocent people? >> nobody should. with any immigrant community. my parents were immigrants from germany, they worked in a german food store. spent with other people who came from their own country. many of the communities, the first victims of bad elements in an immigrant community are
innocent people in the community, and they need to know that law enforcement is there, that there's a positive relationship that's built such as has been the case in new york city between the authorities, local authorities and people in that community policing and the like. that's the thing that senator ted cruz is referring to. it's common sense and workedectively in new york city. ashley: back to the race, ron. do you think john kasich should drop out because the sense that maybe ted cruz would pick up his support, his delegates, do you think that's a good idea? what do you say? >> i don't think there's any doubt that john kasich is a spoiler in this race. every time he loses we hear the same old story about the map going forward looks better, and goes onto get crushed. take a look at what happened in arizona. he finished fourth in a three man race, finished behind marco rubio who dropped out of the campaign. you can't become the republican
nominee after being defeated, 26, 27 times he's been defeated. he's only come out ahead in his own statement absolutely nowhere else. polling numbers are absolutely terrible. he claimed he was going to do well in michigan and other midwestern states. he got blown out there. he's an honorable man, but not in a position to win the nomination whatsoever, and probably can't point to a single state he would do well going forward. ashley: bouncing about a bit, ron. i want to ask but the spat that blew up over ted cruz's wife, donald trump's wife. trump responding to an ad that featured his wife in a modeling pose from some ten years ago. got upset and threatened by saying i'm going to spill the beans on your wife, ted cruz. i don't see how either candidate wins from this, and why is ted cruz engaging in responding to it? >> well, you know, senator cruz has every right to respond to donald trump's latest whacky
statement. donald trump knows what he's doing. he engages in the tweets to distract public attention and away from the substance of the fact, away from his, for example, recent comments about nato and misguided foreign policy and throws this out there. ashley: you're saying you had nothing to do with the ad that featured his wife saying this is who you want in the white house? >> everybody knows that was done by a super pac, which can have no coordination with the campaigns whatsoever. donald trump knows that very well. throwing this out there, irresponsibly in order to divert attention. he does it all the time. i think it's annole trick.ashle. ron nehring, great stuff as always. cruz campaign national spokesman. thank you for joining us. >> thank you. ashley: keep it on fox business for all the 2016 election news. charles payne will have brand new polls on the democrat and
gop races, don't miss "making money" at 6:00 p.m. eastern with charles payne. jeep unveiling new lines at the cherokee motor show. jeff flock is there live and has an interview with jeep's ceo about all the new features fans can expect. donald trump calling for end to the visa waiver program staying makes it easier for terrorists to travel and commit crimes here. but the former director of the problem says it's helping not hurting the war on terror. i'll have all the pros and cons next on the "countdown." so you evolve. you simplify. you haven't changed. you still help people live their best lives. and finally your new logo is ready, and you decide the perfect time to show the world is right... now. theno one surface...out there. no one speed... no one way of driving on each and every road. but there is one car that can conquer them all.
featuring eric burdon & the animals, micky dolenz, the monkees lead singer and cruise host, the 5th dimension, the lovin' spoonful, rare earth, spencer davis, three dog night, and many more! imagine enjoying all that great music on the fabulous celebrity summit, leaving fort lauderdale and making ports of call in jamaica and the bahamas. you'll be back in the days of bellbottoms, peace signs, and so much more, with special theme parties and 20 fun-filled celebrity interactive events. cabins are filling up fast, so come on, relive the era you remember so well. the flower power cruise, february 27th, 2017. let your freak flag fly. don't miss the grooviest trip at sea. you premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it?
if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no lim to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. . ashley: closing bell ringing just under 15 minutes now, as you can see the dow off 77. just had a note from stephen
guilgoyle, it's hang like a champ above the level of 2035. down about half a percent heading into the close otrack for second consecutive day of losses. the dow hasn't seen back to back declines since february 29th. with the world on high alert after this week's attacks in brussels, renewed focus on u.s. immigration policy whether it's too lacks. the vwp allows citizens from some 38 different countries who meet certain requirements to enter the u.s. for 90 days without a visa. one of the preferred countries is belgium. yesterday on "mornings with maria" gop presidential front-runner donald trump was asked by gerald baker if it is time to abolish the program in light of the recent terrorist attacks. >> one of the problems that people pointed to is that actually people can come into the country without a visa.
you don't have to have a visa waiver program, whether you are muslim, or christian or atheist, you don't have to go through the security checks to get a visa. is it time to stop that? >> yeah, time to stop that absolutely, gerri. we're having problems with the muslims and problems with muslims coming into the country, and we're seeing it whether it's califora where they killed the 14 people. the two, young married couple. she possibly radicalized him. >> and she was here on a fiancee visa. >> she came in on a fiancee visa. she came in. they say he wasn't radicalized but he was after he met her and they killed 14 co-workers. ashley: so is the united states doing everything it can to protect citizens with programs like this? joining me is mark fray, former department of homeland security visa program waiver director. you know all about this program, mark.
explain how it works and if we're missing somethinger. >> first of all, thank you for having me, i'm happy to do so. the clip you just played where the reporter asked the question, repeating the line someone can come here under the visa waiver program without security checks is simply wrong. the program has quite a number of robust security checks and that's what makes it a counterterrorism tool and national security tool for the united states. just very quickly, there are four main components of the visa waiver program that make it a security tool. the first is individualized screening, all visa waiver travelers are required to register online and information is vetted against the law enforcement and security databases as regular visa travelers. second, have you required information sharing can visa waiver programs on known and suspected terrorists and serious criminals. third, visa waiver program travelers are required to use
secure travel documents, electronic passports with a biometric chip that confirm identity. and fourth, one of the conditions of the visa waiver program is it permits the u.s. government led by the department of homeland security to conduct very comprehensive inspections of a country's law enforcement counterterrorism border and other security capabilities, and if flaws or gaps are identified, the united states can work closely with the government to fix the flaws. really the visa waiver program is a misnomer in that it does not waive any security requirements, it increases some. the only thing it truly waives is the brief consular interview for members of the citizens of the countries that participate. ashley: let me ask you this, we know for instance belgium is one of those, terrorists are clever. we know they have people who can forge documents very easily so they don't show up on some
sort of program, some alert on computer alert. it would be, i would assume, fairly easy to meet the requirements to get through and come into the united states without a visa, correct? >> well, i don't think it would be any easier than it would be for them to go through the visa process. i think the problem that we're faced with is one of intelligence more than anything else. visa waiver program -- ashley: with that in mind, marc, they can stay for 90 days, and, you know, in this world that we live in now, is it appropriate to do away with the visa portion of getting the documents to get to the country? only because i say yes, it's an intelligence issue rather than the visa waiver program, but in this day and age, like almost all bets are off. should we make it as hard as possible for those who want to do harm to us to want to come to this country? >> we should make it very hard
for those who want to do harm to us to come to this country. but keep in mind, the people who want to come for legitimate reasons. tourism, business purposes, visit relatives, et cetera. we have to understand the people who intend to do us harm are very, very small percentage and the visa waiver program facilitates secure travel, i want it emphasize secure travel for millions of people from countries that are close u.s. allies and with us and work with us to fight terrorism issues as well as work with us on geopolitical issues all over the globe. so i think there are both beyond the individual traveler, there are very significant diplomatic and economic consequences attached to the visa waiver program. including by the way, this is one of the things people don't mention, one of the requirements is reciprocal visa-free travel for american citizens. so if you remove the vwp,
everyone in the u.s. who wanted to travel to the 38 countries would find themselves having to go to embassy and apply for a visa which i don't think people want. ashley: marc frei, former director of visa's waiver program. coming up, why hedge fund workers may not be looking forward to summer vacation this year? charlie breaks it down next. and jeff flock at the jeep auto show where jeep has new models and upgrades. jeff? >> reporter: they have just unveiled the most capable grand cherokee ever made. i'm going to try to get this man who runs jeep to weigh in on the presidential campaign. see if he does. stand by. don't let dust and allergies get between you
(patrick 1) how about a 10% raise? (patrick 2) how about 20? (patrick 1) how about done? (patrick 2) that's the kind of control i like... ...and that's what they give me at national car rental. i can choose any car in the aisle i want- without having to ask anyone. who better to be the boss of you... (patrick 1)than me. i mean, you...us. (vo) go national. go like a pro. ashe arb jeep up veiled a surprise for grand cherokee love verse. jeff flock is there with jeep ceo mike manly.
>> trail hawk, maybe you heard that name before. you never seen one like this. i hope it has good brakes because it is perched precariously up on the stage here in javits center in new york. mike, this is the year of auto show of the suv. you have a lot of competition out there. >> for sure. suv segments around the world are among the fastest growing in the industry. i'm very pleased to be an suv brand. >> reporter: this is what it looks like that. is trail hawk there as well. most capable. tough request ask you this one. big issue has been trade in this presidential campaign. you famously are making jeeps now in china. somebody long ago said they will make jeeps in china and sell them in the u.s. donald trump says he will slap a tariff on anybody who brings vehicles back into the u.s. is that good policy? >> you're not getting me to step inside of that question in this particular era. i will tell you as global company it is important for us to trade on global basis.
let me. reporter: you build in china and sell in china. >> we build those in china to sell in china. we were very, very clear to that. prior to that that market was largely closed to us. the cherokee we build, renegade we launch in april, next step in our development, both made for china consumption. reporter: maybe this doesn't apply then. nice sidestep. >> no comment. reporter: no comment that surprises me. ashley: very smart, not getting involved in that. jeff flock, mr. manly, thank you very much. bill ackman of pershing square struggling this year with his fund down more than 25% but ackman certainly isn't the only one. in fact the entire industry not doing that great. fox business senior correspondent charlie gasparino has the details. >> if you're a college student, want to go into finance, i will give you reasons. ashley: this is the class by charlie.
>> maybe go into the hamburger business. ashley: what? >> go into the television business. ashley: there you go. >> hedge fund industry employs 50 to 100,000 people. laid off a lot of people last year. this is amid bank cuts. every bank is now cutting book. what we're hearing from major hedge fund executives expect another huge round of hedge fund cuts coming next couple months. ashley: business is that bad? >> they have two problems. not just bill ackman although he represents the extreme example. it's huge fees. hedge funds are paying, you have to pay two and 20. 2% management fee, 20% of any profits. people sitting there i can buy s&p 500 fund at vanguard for like nothing. ashley: right. >> that plus people get a load of that sort of incentive, those disincentives they're taking out money from hedge funds.is huge i
think june 15th. that is where you will see the rubber meet the road. the numbers are all over the place. i think i hear 10%. ashley: 10%. five to 10,000, based on 50 to bun hundred? >> a lot of people i it is a huge cut. every hedge fund. dan loeb is suffering losses. ashley: total return fund down 2%. >> some hedge funds are doing okay. steve cohen which is family office is doing okay but many more aren't. this is the problem particularly if you want to be in the financial business right now, the jobs are evaporating. wall street jobs going by the wayside. credit suisse announced 2,000, 3,000 cuts. european banks are taking it on the chin. they have real structural issues. the u.s. banks really aren't hiring. in the past private equity and hedge funds made up difference in employment. that is not happening particularly on the hedge fund side. my guess --
ashley: that is all very depressing, charlie, thanks. >> if you have mba from harvard, get a job on floor of the stock exchange. [closing bell rings] ashley: dow off session lows. oil down today which hasn't helped the proceedings at all. there we go. take it away, david and melissa. neil: thank you very much. stocks ending the day down following oil which fell more than 4% and ending the day below $40 a barrel. i'm david asman. melissa: i'm melissa francis and this is "after the bell." new at this hour -- neil: new information on the deadly terrorist attacks in brussels. a number of u.s. citizens currently remain unaccounted for in belgium including u.s. government and state department personnel. police discovering a suicide note on a laptop left in a garbage can believed to be written by one of the bombers. a desperate manhunt is underway for the man in white. authoritie