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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 19, 2016 3:00pm-4:01pm EDT

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:00 pm eastern on the foxbusiness network. i will be there, maria, neil, david, the whole gang. and my facebook page, let me know your thoughts on today's show. we love hearing from you, liz: it is early but there is steady turnout and lots of reports that it is growing steadier by the minute on this primary day in the empire state. voters across new york casting ballots in a presidential nomination process that has been anything but routine. the two front runners, both new yorkers, donald trump and hillary clinton expect to end the evening victorious, but the exact outcomes could be vastly different. the billionaire businessman way ahead in recent polls and if trump gets more than 50% of the vote there is even the possibility that he could sweep the state's 95 delegates keeping on track to nab the magical
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number of 1237 delegates needed for the nomination but the democratic race could be closer. former new york senator taking nothing for granted. a los it in her home state could be devastating for clinton's campaign. it is hard to ignore the massive crowds bernie sanders has been attracting. two new york congress and joining us live to tell us what they and their constituents want from the next president. steve israel and lee sheldon join us with top-notch political panel at rollins and julie rich in ski. on wall street you see the market still up but struggling to hold tao 18,000 for the second day in a row, dow jones industrial average seeing a move up 22 points, we will show you the one fame that could ruin the tao's chances, less then an hour to the closing bell, let's start the countdown.
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18,026, the tao is holding about 18,000, but one major blue chip name holding it back, another big-name pushing the nasdaq lower, the s&p 500 as we look at it at 2097 is three points away from 2100. it reached that today but we are looking at that level. the tao was up 99 points added high but as ibm gets the blame for shaving off 65 points at this hour, the tao after reporting its worst revenue in 14 years, everyone keeps piling like warren buffett, piling into this thing, i hope, i believe, it has been quarter after quarter of real problems for big blue. shoving investors out the door at ibm the worry that results from the cloud and mobile computing divisions were not upsetting any declines in traditional businesses, looking at shares of big blue down about 5, nearly 6% at this hour, we are watching it because it is
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coloring what might have been a much brighter green on the dow jones industrial just slightly lighter. to the nasdaq and netflix, the best performer of last year plunging the most in 18 months at this hour is investors dump shares right and left, netflix down 12-numb one/3%, we are watching that stock closely. to politics, we are at a new york state of mind as voters flood the polling stations. team foxbusiness coverage for the battle for new york, connell mcshane live in trump tower where the republican front-runner is expecting a big night and molly line up state with voters who feel politicians are focusing too much on where connell mcshane is, the big apple. as we look at the new york primaries, the big apple showdown, call it a tale of two candidate, donald trump and hillary clinton both voting in new york today, and in the
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empire state, rival senators bernie sanders and ted cruz along with governor john kasich are out of sight out of mind. candidates nowhere to be found in new york, looking ahead to pennsylvania, bernie sanders who has campaigned heavily in new york state, quote, if voter turnout is high, i will do well. connell mcshane live in midtown manhattan, on the republican side specifically this is trump territory. in this battle for delegates is the sense that it is trump by a landslide? that is what he really wants right now. >> reporter: exactly. 's supporters are confident they can do that. the battle for delegates, rather than vote is the battle worth watching this evening as we watch results coming. you mentioned at the top of your broadcast 95%, only 14 of those delegates are statewide so can trump top 50%? if so only 14, there are 81 more
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that will be battled out within the individual congressional district. if trump can get above 50%, and he is coming and as we look at the delegate count, 756 for trump, 144 for ohio governor john kasich. to get to that magic number, 1237 maximizing in new york is very important to the trump campaign. earlier today trump left his residence behind and going up the street to vote, a local synagogue, trump's polling place in new york city, we heard a little from the candidate when he was there. >> it was a great honor. who would have thought? it was a great honor and a great honor for new york. new york is a special place. make america great again. connell: the famous saying back america great at home. at home for donald trump, watch the results come in with family and friends this evening and see
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how those delegates are adding a. he is the front runner, home state candidate, his two opponents are not even in the state tonight, when new york, the primary is all about donald trump, back to you. trish: there is a gucci right behind you just so you know. so you can go in and shop. connell: there are a lot of things beyond me. the crowd of people as you might imagine. trish: only in new york. new york city typically grabs an outsized amount of attention during statewide voting, politicians have left nothing to chance. a lot of trips up state and other regions outside the city, long island, everywhere in an effort to court new voters in what is truly a diverse state. molly line standing by in an upstate polling station taking the pulse of local voters. what is on their minds as they stand in line? >> reporter: undoubtedly we are hearing a lot about the economy
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appear and a steady stream of voters, upstate new york is not being left behind in this election or being marginalized, being courted by both sides of the political aisle in this election cycle pouring out to the polls, white house hopefuls made stops from rochester to rome to syracuse courting these residents, more rural areas according to blue collar areas the economy critical, donald trump touting his home state advantage, kicked off multiple upstate rallies talking about job losses, manufacturing losses, promising he can turn things around with better trade deals, economic revitalization, ted cruz giving the cold shoulder in the bronx but getting a warm reception to the north and john kasich promising a town hall event that he is in it for the working people, secretary hillary clinton and bernie sanders certainly focused on democratic strongholds to the south, they have not ignored the northern territory. they made stops in buffalo and syracuse courting these voters,
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bernie sanders focusing on his mantra about a rigged economy. voters talking about healthcare, talking about international issues but what they are really focused on our pocketbook issues. take a listen. >> i voted for bernie sanders, the same number of issues, i look for job creation, we have a lot of unemployed, low wages. >> i voted for donald trump to help kill isis, get our economy back together, a lot of reasons i like trump. he speaks his mind. the democrats and the republicans can't get along, they want to shut down the government every time there is an argument, not going to happen with the donald. trish: donald trump invested in upstate new york. the question is upstate voters, get him the votes he needs to walk away with all the delegates. the polls closing at 9:00 pm tonight. trish: liz: the fact they both mentioned the economy, as a
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business network we knew this all along, thank you. we need to tell everybody bernie sanders just wrapped up a feisty rally in erie, pennsylvania, taking a love look at the cold crowd that is still there. bernie sanders has had a lot of crowds in a lot of states but in new york where he was born in brooklyn, and important point to mention that he is in vermont but he has gathered a lot of attention. he looks ahead to next week's states, a battle uphill for him, sanders needs 68% of all the remaining delegates to score the nomination, 68%. did he do enough to get the secretary of state athlete, he can use a lot of new york delegates here but let's bring in clinton supported democratic congressman from new york steve israel. as we watch what is happening with bernie sanders clearly she is well ahead in new york but on a national scale bernie sanders
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is getting a lot of attention. what does she need to do to become that person where people say she is the one who can beat any republicans at this point. >> thanks for having me on. on a national scale hillary clinton has 2.5 million more popular votes than bernie sanders and is ahead by 700 delegates. on the issue of what counts, getting more votes and having more delegates she is doing very well. we have a real old-fashioned political brawl going on in my home state of new york today. i can't tell you what the percentage is going to be. hillary clinton is going to win, she is going to expand her popular vote, she is going to expand her delegate count, it becomes a real uphill path for bernie sanders at this point. trish: liz: she has a real uphill path of representatives, it is almost stunning that she and donald trump getting all the exigent,
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much of it, are the ones with the highest unfavorables was considering we are pretty deep into the process has and she worked harder to turn that around? >> this happened in a primary. politicians don't like primaries because they know they will be attacked, commercials against them, they will be dragged down and that is the effect of a primary, donald trump starts with a 67% disapproval rating. it doesn't bother him. he has made the assumption that after the convention he will be able to heal, hillary clinton who is well known to americans, will also be able to heal and that is why -- hillary clinton, a much more effective candidate to independent voters, moderate voters throughout the country. liz: everyone is talking about new york state, all the candidates running around trying to glean more votes, ted cruz and john kasich going to lots of factories, big jewish contingent in this state and hillary clinton going on radio stations talking about being more
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likable. this is a more serious situation going on in the middle east, bringing up israel, a big supporter of the state of israel, look at what happened yesterday. another bus bombing. it seemed as if nobody is looking at these eventss and says here is what i will do, hard and fast ideas here. as you, looking at hillary clinton, also look at bernie sanders, the only jewish candidate in the race, he said some things, we need to be more evenhanded with the palestinians, how does that go over with someone like you? >> didn't go over well at all, nor did donald trump saying we need to be evenhanded. i just came back from the middle east, i had a 90 minute meeting with benjamin at yahoo, for two days, was in iraq two days, traveled throughout the persian gulf, landed on the harry s truman carrier and visited with a new york crew and you couldn't have a more vivid contrast
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between bernie sanders and hillary clinton. bernie sanders said when the rockets fly from terrorist organizations against innocent israelis he will be an impartial mediator. hillary clinton said she would stand by israel, one of the major reasons i am working so hard on her behalf. liz: thank you so much, and extremely busy day for you, we appreciate you being here. congressman steve israel, democrat of new york, coming up we will look at the other half of the constituent in the empire state, republican new york congressman joining us live at the bottom of the hour. you need to see that interview and watch what we are looking at now. a lot of green on the screen with closing bell 40 minutes away. goldman sachs leading the charge on the tao 30, despite the fact earnings and profits came down for the fourth straight quarter. goldman sachs jumping $3.33, no tylenol leader today, johnson & johnson hitting new lifetime
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highs after boosting its guidance for the year, the healthcare giant reporting better than expected results for the first quarter. we have our cameras trained live on the tarmac in maryland where president obama is expected to hop on air force one for a trip to saudi arabia. how much time in the kingdom will be spent talking about the glut of oil versus the broiling hot controversy right now over the saudi's alleged role in the 9/11 attack, traders on the floor so and more next on countdown. if you're going to make a statement... make sure it's an intelligent one.
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call today at see car insurance in a whole new light. liberty mutual insurance. liz: 18,044 points is where we stand. i have my button on the confetti cam and will be stay above it? the tao hit a 2016 high today but reversed later in the session turning negative at one point. everyone is focused on the price of oil and what is going on with stocks we wanted to point this out, look at silver, it is the silent seen steeler hitting a 10 month high. this is the intraday picture but if you back up to half a year or anything else you would see it has been languishing, not doing
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well, suddenly spiking 4%. where should we putting your money? you want to be ahead of the game, not behind. i will begin with you, oil, such a big story, you have the disaster for opec, not a consumer in the united states but looking at oil's behavior what does this tell you? >> it didn't panic and fall. there was news of a strike in kuwait driving the price of oil up and actually that is not the case at all. to be honest what oil has done today and the last week or so is baffling to me. i am always a big seller but here as we approach $42, you take another look at it and unless you topple that and give it room to run i don't see it going higher but $42 i would temper my selling. trish: liz: we are at 4103 at the second. the behavior yesterday was
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interesting, we jumped up above a couple points, we continue to move higher, clear sailing here? earnings were pushed down by so many analysts, companies beating lowered expectations and everyone says the bear is dancing. >> what we have here in stocks, central bank is handcuffed by the macro, they can't move, we have high short interest levels but high cash levels, starting to soar through the short interest but we are not there yet so the impetus, the momentum is to the upside, we haven't gotten 2106 on the s&p which is a level we have to get over and hold in order to move on but we are comfortable, we have moved sideways, nice digestion day, i thought we might crack and go lower but we didn't. here we are back at 2099. liz: here we are 2099 exactly. we will see the level you are looking at 2100, the dollar got
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really weak today and you started to see commodities like oil and silver move better but what does that tell you about big names, j and j are not hurt by this and that is one of the big names, holding the part folio, heard by a stronger dollar, the dollar steadies. what does this mean for the current quarter? >> the fed is making a real attempt to keep the dixie around 95, you saw them remain hawkish last night even with macros kind of week so there is an attempt around 93 to push back the 95, also bring out the doves, janet yellen has a big hammer around 98, 99, there is an effort to stabilize the dollar here. liz: we will watch it and that affects oil. good to see both of you, thanks so much. 39 minutes before the closing bell rings, it may be the stanley cup playoffs season and hockey lens but the apple versus
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the fbi facing off against each other on capitol hill. the argument over privacy versus safety taking center ice. jo ling kent has the latebreaking details in our tech minute. countdown coming right back. these guys represent blood cells. if you have afib not caused by a heart valve problem,
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liz: breaking news, there you see president obama, live pictures of joint base andrews where the president is departing for a six-day, three-nation trip. the president is schedule today visit saudi arabia, the u.k. and germany. three very important overseas allies. first stop will be saudi arabia, a country that just on sunday refused to engage in an oil output freeze at the opec meeting in doha. the president also dismissing the idea of suing the middle eastern kingdom over a rumored role in 9/11, saying he would veto any bill that calls for the u.s. to do that. the president now shutting the door, getting onboard air force one. let's get to apple.
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apple is putting out a new project, did you hear about that? as the battle against the fbi heats up on capitol hill, jo ling kent with more. >> reporter: lawmakers are looking for a solution, but apple and the fbi are offering no solutionings. at a hear before the house energy and commerce subcommittee, bruce sewall testified any vulnerabilities built into products would harm all users worldwide also adding that the chinese government has requested apple turn over source code, but apple has refused to do that. a separate panel later on, the fbi defending the justice department's decision to use a third party to hack into the iphone, saying the agency did not ve the higy spialized expertise it needed to do the work. separately apple unveiling a new mac book today, a faster processer, a longer battery live and rode gold which really is a pink finish.
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the mac book will be available starting tuesday and starts at $1300, apple stock right now down about .6% there, liz. liz: rose gold? i think i need that, jo. >> reporter: you and bemoat. [laughter] liz: thank you very much, jo ling kent. keep it here, we've got breaking news after the bell, jo ling kent is going to have all the info on yahoo! and intel. both of these mega-names are reporting earnings at the top of the hour. closing bell, 32 minutes away. dow jones industrials up 43 points. donald trump cast his vote already today, and if the polls are right, many new yorkers will be hopping on the trump train before the day is done. so why is one new york the donald, but from all three of the candidates left in the gop race? well, we'll have representative lee zeldin himself, he's next live on "countdown." stand by, congressman. ♪
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♪ ♪ liz: new york voters have taken to the polls. with about five and a half hours until polls close, you're looking at a live picture of utica where people are voting steadily. will gop front-runner donald trump succeed in sweeping all 95 new york republican delegates, and if he does, what could that mean for the rnc convention in julying? let's bring in republican congressman representing the first district of new york, lee zeldin. welcome, congressman, and what about that? donald trump seems to be doing extremely well here in the state of new york. what's your prediction? >> well, the real question is how close to a sweep duds he get. liz: yeah. >> there's little doubt he's going to do great today, tonight as results are coming in.
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i don't know if he's going to sweep all of it, but he looks like he's going to come close. liz: you have not committed to any candidate. why not? >> first off, we see neil cavuto on the sixth ballot at a contested convention -- [laughter] putting that aside, i'm probably too plain spoken to become anyone's surrogate. if i endorse somebody today and tomorrow, they took a position, they said something i disagreed with, i would take them on even though i endorsed them. liz: okay. >> right now with all the personality conflict going back and forth, i'm sticking to the policy and focusing on my district. liz: well, i'm glad you used the conflict word. conflict, high anxiety, that's what people are starting to talking talk about for the cleveland convention, and that becomes a major issue for a lot of people wondering does it have to come to that? in the chatter in the halls behind you, what are republican congressmen from all states anticipating for that cleveland convention if donald trump doesn't hit the magical 1237 delegates?
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>> there's the first question, you hit it, how close does he get? does he get to 1237, does he come close to it? if he doesn't get there, what that -- liz: what if he gets within, say, 30. let's just say he gets within 30. can you really -- and i'm not saying you, i'm saying the provery y'all you -- can you in the rnc really sit there and take that away from the guy who has way more votes than ted cruz and john kasich and just missed it by that much? >> i don't think so. not at all. i mean, i talk to a lot of trump supporters. if they see trump get that close to 1237 and he doesn't leave cleveland with the nomination, there is going to be a huge issue that will result in a loss of a lot of votes in november. so even if trump comes really close to 1237, i would see him getting the nomination. >> you sit on the house foreign affairs committee. president obama's air force one is just now taxiing to leave joint base andrews in maryland.
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this is a live picture. representative, he's heading, of course, to speak with the germans, the saudis. this is a big, important trip at a very testy time. you served in operation iraqi freedom. representative zeldin was on the 82nd airborne, you're also a lawyer. you've done a lot in your life, but what do you think needs to come of this particular trip that the president is taking? >> you know, i -- it's really hard with the president's foreign policy. i mean, just last night you have joe biden speaking right after a bus attack in jerusalem seriously injuring 21 people, you have joe biden criticizing prime minister benjamin netanyahu for taking israel in the wrong direction. we're seeing the president's foreign policy whether it's to europe, the middle east, russia and china, north korea, he is just so off base on so many different levels, i don't know what exactly we should hope for
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on this trip consistent with this president's foreign policy. it seems like every time that he's scoring a victory for himself, it is adverse to the best interests of american security. liz: you're the only jewish republican congressman, and i just as we watch him take off, that was an unbelievable moment where vice president joe biden was ripping benjamin netanyahu. netanyahu's trying to keep his nation alive. he's surrounded by many hostile nations, and now with the iran nuclear deal which i'm sure you can't be happy with, which candidate has the best plan to protect and support israel from where you stand? >> all three candidates have been strong with regards to their policy. i will say i've known senator cruz for a very long time. he has been rock solid for many years on his policy as it relates to israel. and i think that mr. trump has evolved his position a little bit. you know, he made a statement
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that i was concerned about regarding neutrality. i mean, we just saw it last night. when you have innocent israelis getting terrorized, you can't play it neutral. liz: yeah, exactly. how can you be neutral in that type of situation? hillary clinton has been a staunch supporter of israel. and as secretary of state, she's made a lot of statements about those kinds of things. i know it's hard for you to cross the line, but are you okay with where she stands on this? >> no, i'm not. the fact is i do not have faith -- she was secretary of state during a lot of challenges during president obama's first term as it relates to israel. i don't know really where she would stand if hamas launched 50,000 rockets from gaza or hezbollah launched 50,000 rockets from lebanon. and israel, with the inherent right to self-defense, defends herself, and you have a lot of loss of innocent lives. i don't know what hillary clinton is planning on doing regarding the palestinian authority rewarding criminals with cash payments.
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so there's a lot of conflict right now in and around israel that hillary has been unclear with. but her term p as secretary of state leaves a lot more questions than answers. liz: representative lee zeldin, thank you very much for joining us. it's a busy day, and question -- and we appreciate it. >> thank you, liz. liz: exxonmobil is apparently sending employees home from its campus north of houston because of that, what is on your screen. worries that rain could cause massive flooding that's already happening in texas and that the surrounding roads will prevent employees from leaving or entering at normal times safely. you can see we have cars that are submerged where people thought it wasn't that deep, and guess what? they got in big trouble. lots of rescue events. this is a terrible situation going on in texas. exxonmobil at this point is telling employees they've got to go home from that new campus north of houston. exxonmobil stock up at the moment up about half a percent. closing bell, 20 minutes away.
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up next, as voters turn out in record numbers for donald trump and birny sanders, it's the delegates that still hold the key to a presidential nomination. from free flights to fancy hotels to stays in the white house, let's just say it's good to be a delegate. we're going to examine the delegate dash and just how far some candidates are willing to go and have gone in past elections to secure the delegate votes come convention time. "countdown" coming right back. they say that in life, we shouldn't sweat the small stuff. but when you're building a mercedes-benz, there really is no small stuff. every decision... every component... is an integral part of what makes the 2016 c-class one of our most sophisticated cars ever.
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because if donald trump fails to secure the nomination on the first ballot, many of the delegates will then be free to vote however they please, and that's where the bidding and the wooing comes in. candidates are reported arely allowed -- it's legal -- to pay a delegate's convention expenses, including airfare and hotel. but it could go a lot further than that. trump says it's a game he is not going to play. >> you basically are saying, delegate, listen, we're going to send you to mar rah lag go on a boeing 757. you're going to use the spa, you're going to this, you're going to that, we want your vote. that's a corrupt system. wait a minute, that has nothing to do with democracy. liz: let's bring in ed roll lynx and julie roginsky, democratic strategist and fox news contributor. in your experience, ed, what kind of wooing have you seen? give us some anecdotal evidence.
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>> the most famous was the reagan/ford battle. ford was the president. he put five people in the oval office, he invited them to state dinners, and he took the chairman of the mississippi delegation, basically took him and put him next to the queen at a state dipper. he pledged --en dinner. he pledged his support to reagan, and basically flipped. liz: the queen was probably saying -- >> you imagine, this guy from mississippi -- [laughter] clark reid, and he lived famously as the most hated guy by the reagan administration. >> not that you have a long memory or anything. >> not at all. [laughter] liz: looking9 at all of you, does donald trump have a point here, or is this just the way it is and you okay with it? >> i'm not okay with it. it's just the way it is. there are a lot of people who don't have a lot of money, they will be welcome for that. but most people take it very,
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very seriously, and you're down to in that particular case reagan lost by 117 votes. i doubt that that'll be much of a difference this time. so you really, president ford gave sewer grants, i mean, he had the power. no one has that kind of power. of but trump has a lot of gifts. may not fly on a 747, but you can fly down on trump one. liz: julie, what do you think happens come the cleveland convention? >> that's a great question, i don't think anybody knows. it really comes down to, i think, indiana assuming trump garners most of the delegates today -- liz: not california? >> he needs to do well as well, but if he doesn't really clean up in indiana and if cruz is allowed to win in indiana, which he's positioned to do well in indiana, there's no way trump is going to the convention with the requisite number of votes, andce number of votes. and you have deal making of the kind we've never seen.
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liz: i'll ask you what i asked congressman lee zeldin, the republican from new york, and that is can you really if trump comes within spitting difference, say 30 delegates short of it, can you really take it away from him -- >> well, you won't have to. if he gets within 30 delegates, he'll get it. within 200 delegates, he's going to have a real battle because a lot of these delegates have pledged to go for cruz on the second ballot. that's where the cruz team has been more effective. would you vote for our guy because he's a real conservative republican on the second ballot. liz: let me get to the mitt romney issue here because he's suddenly making a lot of noise again. do you think, julie, he's trying to insert himself if there is a con protested convention? >> i understand the bid for relevance, but where's he going? he had a shot twice to try to become president, he failed both times. there's not going to be a knight in shining or armor. i can't imagine if you're a republican voter of any kind why you would actually think your
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vote was relevant, why some party guys in the back room are going to nominate somebody who didn't receive a vote this entire cycle. that's a horrible message to send to voters. liz: bernie sanders has been quite an interesting candidate here in new york, wading into huge crowds, high-fiving people. he's become a little bit of a rock star. he walked through the verizon workers' picket lines, walking through the streets of new york city today, ed. any chance for him? in no, but because we're the same age, and i'm happy to see him out there. [laughter] it's an amazing campaign. he's pushed her hard, and he's got a lot of supporters. i think the long-term problems for the democratic party, just like we're going to have problems, getting these young voters, this is their first vote. it'd be like mccarthy back in 1968. people get attached to these candidates. liz: trump and hillary win on either side tonight? >> i think so. the question is how big.
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trump, does he get over 15 congressional districts, 27 in new york? hillary, does she win by double digits? she needs to. i've said this before, it's about the math. there's a mathematical impossibility for bernie sanders to win this right now. it is becoming increasingly more difficult to win this nomination. >> trump has a giant win. this is going to be his biggest win of the campaign without spending any money. he really is a bigger than life player in new york. liz: great to see both of you. ed rollins, julie roginsky. keep it right here on fox business for all of your coverage for the battle of the big apple and new york state. neil cavuto and the fox business all-stars kick off coverage, 7 p.m. eastern. dow jones industrials up 45 points, about 49 points above 18,000. up next, the former wall street leader who says it isn't wall street who voters should be offended by, it's the 2016 candidates and what they aren't
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i'm going to be even better about saving. you can do it, it helps in the long run. prudential bring your challenges ♪ liz: closing bell ringing in six minutes. take a look at markets, nasdaq has been down all day. down 22 points on weakness from netflix. look at dow. still above 18,000 at 18,040. s&p is at it -- 2099. lori rothman at. >> we're waiting for yahoo! and intel. both shares not doing a whole lot ahead of the report. here is what to expect nonetheless. big from yahoo!, update on
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bidding., yellow and verizon coming through as main bidders. everybody is getting ready to walk up to the balcony for the closing bell. chinese assets, alibaba not even been spun off yet. this will be a whole lot of news here coming out on yahoo!, in terms of numbers, seven cents a share. that would be down from 12 cents a year ago. intel shares down 8 1/2% year to it today. challenging of shrinking pc market and smartphone industry. liz? liz: intel has been stuck in the range about 38 years. i'm exaggerating. thank you very much, lori. >> the new york primary is also called the wall street primary. "new york times" actually called it that today. of course we're the financial capital of the world voting today. a lot of candidates in effort to garner hot votes are bashing
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wall street. let's bring in former wall street honcho, bothered by something else. joe grand know, former head of ubs-painewebber. you're not bothered when they rip wall street bankers, are you? >> revisionist history because government is not taking any responsibility. they started this by imposing restrictions, excuse me, letting people buy homes they couldn't afford. that started with clinton in 1999. liz: putting that history aside, there is something else that does bother you, that you really get concerned about that you believe the candidates are not scratching the surface of. let's talk about that. >> i think it is leadership. 307 million people in the united states and look at our choices right now. i think number one, close to the priority of a president is to coalesce the country. all i see is divisiveness. all idealogical positions takes place, not only with the president and congress and candidates it is the wrong message.
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the american people deserve better in my opinion. liz: there is lot of bickering about insignificant things. >> yes. liz: there is lot of pandering you would expect that. president is going to saudi arabia and germany. the economy is growing albeit slowly. what is number one thing we need to tackle right now, to have candidate talk about they aren't talking about? >> from my perspective i think we will have to deal with the $19 trillion in national debt. taub being about too big to fail. only institution is too big to fail is the u.s. government. we've gone 18 trillion, to 19 trillion last several years. that is not sustainable. liz: score all the tax cut and budget plans on the republican side, all add to the deficit 10 years. >> if you listen to bernie sanders he will spend $15 trillion more. >> liz: exactly. >> it is impossible.
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we need balanced budget or candidate for president that want to support that. liz: are you one of these guys that believe, many candidates do, cut taxes magically revenues will grow and job will increase. >> that is supply side argument. liz: right. >> i think you need a balance. affluent people would accept five points in tax rate as long as government reduced spending by five points. and not use new taxes for additional entitlements. use it to get the national debt down. i think people would lock in arm and arm to get that done. liz: from your experience we're looking at market very close to all-time highs. the s&p came what, 30 points shy of record of all-time high earlier today. does that worry you? do you feel this is appropriate response to companies starting to grow once again? >> i think the economy is anemic and i think some of the stats are a bit of a head fake. look at revenue line, very few
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corporations are hitting revenue line. they're hitting most cases earnings lines. that is coming two ways. zero cost of money, stock buybacks and productivity they gain with layoffs. that is not sustainable situation. 6% of the s&p earnings are outside of the united states. you have a worldwide recession going on. we'll not be impervious to that. liz: i need to ask, because it is your business, encryption. all the worries about hacking? >> yes. liz: would that inspire job creation if the government steps in to pump up a little bit of that? >> well, it is a specialty profession. you really need to be trained. as a matter of fact the achilles' heel in corporate america today. my ceo at ubs was never trained in cyber. look what happened to jpmorgan chase. despite spending $300 million it got exploited. it is major step to the united states today. not boots on the ground.
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taking down energy grid but taking down dtc for instance. liz: joe grano. former ubs chief. [closing bell rings] the dow, 18,048. how about that? melissa francis and david asman take it here with five hours before the polls close. melissa: the dow ending mixed. dow managed to stay above. i'm melissa francis. david: i'm david asman. this is "after the bell." at this hour, voting underway way now in new york. it has been nearly 30 years since the empire state played such a big role in the race for the white house. the heat is on for the front-runners. both need a huge win to take back momentum. for donald trump it is imperative for him to grab every delegate possible. we're hours away from the first results. >> donald trump eyeing the victory in new york but it will


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