tv Cavuto Coast to Coast FOX Business November 21, 2016 12:00pm-2:01pm EST
i think all of the major networks will be doing that. that is a good question. will they just leave the desk and go. it's can be on this program for a couple of hours. it's your show but i'm not invited. we have a lot going on here. when it kicks off. but what could be a problem for travel is even though it technically kicks off after the thanksgiving holiday weekend hundreds of workers at chicago's o'hare airport are set to strike. these will include the baggage handlers. they are the minimum wage. gerri willis has all the details. >> the big fear here is that they would interfere with skimming travel.
they want to disrupt the airport. they don't want to close the whole thing down. here are the new details. 500 workers voted to strike all but one was in favor of this. this is only 25% of airports support staff. there is a total of 2000 support people there. these are independent contractors as you said before. all of them. not pilots and not flight attendants and what they want this is the five for 15. they essentially want their wages doubled. big concerns about what this might mean for air travel. they've course have backed off doing it this week right in front of the big thanksgiving holiday weekend. you have to tell you were just
getting details in now. this is a big union that represents so many of these folks. i know a lot of people out there and they just want to get home for the holiday. and don't want to be disrupted by folks who are seeking a doubling of their wages. like i said is starting after the holiday. but just in preparation for that people scurry around and try to make alternative plans just in case. we have the very latest. >> another full day. this already have been a full day on the plate of the president elect.
after a weekend in new jersey. no intimate announcements that we know it. just a look at some of those names that you reference out of either made their way or will be making their way through here today. rick perry and congresswoman to talk about more her in a moment. the governor of oklahoma. and scott brown. he has been in and out. we saw him on his way around the tower. he has been reported for that cabinet post. for governor fallon governor fallon that's also been mentioned. one of the more intricate meetings that intriguing meetings that they take today because he's a democrat. maybe in some areas of agreement with trump however. they will watch what comes out of that. senator brown has talked already about his interest in the jobs and veteran affairs. he said he will be told whether not he gets or not he gets that job sometime after thanksgiving. speaking of thanksgiving this is already been a busy weekend
coming off of the past weekend. meeting with among others the government of new jersey. the former mayor of the city. and former governor of massachusetts. we know of them are being considered this coming weekend of course will be the thanksgiving weekend. we have learned from the trump transition officials that they will spend their thanks giving having the turkey and all of it. he is having me there. it's good to have a lot. you can kind of pick and choose your zip code. carl on what he makes on the coming and going. it is up parade of potential contenders. it is possible that chris christie and rudy giuliani don't get jobs over that
matter. even early loyalty well only get you so far. too early to tell. is that because it was looking like he woul't get one. i think it was more because he has a job that he would like to have. he's been talking about for a number of weeks which is sort of a white house staff position that would give him carte blanche to go in and review every agency and make recommendations for how to reform those. i'm not certain that that is something that they would be willing to tolerate. basically give him that. my suspicion is a lot of these
cabinet secretaries will want to take that job on themselves. how can he reform the va. it's a very odd time. people that are with you. and at the same time you want to have a government that is broadly representative of the country. it's been an exceptional step by president president-elect trump to be so magnanimous and invite others. it's also a sign that he's going for excellence. talking about jamie diamond for secretary. who would've thought that. on his part. and were about rdy to start. he will start rolling out the
policy teams. he is off to a fast start. what you think. it could be seen that way. people are gratified to have have their names mentioned even if they don't get their final post. it was abbreviated because of the conflict over florida. they obviously have a different style. looking yesterday. michelle the edge of the democrat education. the democrat mayor of sacramento. there they were talking with
donald trump about education. a ferocious advocate for school choice. they had been involved in this crusade for decades. they've done marvelous work all across the country. i don't know who ends up being the secretary of education. the openness and emphasis on quality. in his direction for that department. we are getting is that he is meeting at all of that major network executives. about what includes that. to set the record straight. and all that. would we make of that. i think it's important.
they are at the urging of kelly and conway. the president-elect does not have a good relationship with the press. didn't during the campaign he has every reason to be upset with the coverage particularly with some print organizations. they will cover him and he will need to accept it and deal with it. this is one of the two things that i have. what he's gonna do and what his neck and do. as representatives of the media. then fair and open coverage. i hope he stops tweeting at the members of the press. i was literally just can ask you that. >> name a communication director.
it is unseemly. i hope he does. let somebody else express his thoughts on his behalf. he has sent a marvelous job. and not too many days of that. the highest it's ever been. he desperately needs that to continue to get better. my opinion he may throw the hearts of the true believers but in terms of united the nation and putting them i don't think think it helps them that much. that he is can continue this.
i don't know if it's that easy for him to stop it. it allows him to speak directly to the american people. and what you want to do. don't be using it to try to settle scores. i wrote about it. i was appalled by what they wrote. and then lecturing in a condescending fashion let others do that. thank you my friend. it was a darn good one. all right in the meantime here we have some stock market development. is largely a lot of small stocks as well. the s&p 500 hitting new highs and get a load of this the doubt in an out of a new highs.
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that crew ask him -- owes him an apology. the democratic strategist. this development on top of the a and awards do you think it was a bit much. >> i thought they were more offensive actually. i think mike pence handled brilliantly. when they heard the first impression. we are really getting too far. if that have been done about michelle obama that would've been considered racist. i don't think it requires an apology. on a weekend where we heard that donald trump settled the fraud case for $25 million have jeff sessions appointment.
i think that's a problem for liberals. what he think the fallout will be. and then wayne in. i think the same americans are the same ones that will be so rolling their eyes it doesn't seem like they could just do that. broadway actors can just shut up and swing -- singh already. 60million voters said they wanted this man to be president. more people wanted hillary clinton than donald trump. >> they all subscribe to the same rules.
i hear this from so many. each of these candidates. would've campaigned very difficult -- differently. let's move on from that. one of the things that's come out of this is that that system that we knew going in was awarded to donald trump has a lot of hollywood types and stars on broadway and elsewhere looking like sore losers. hamilton is a political theme show. this should not be a surprise. here's what i say. that mike pence the vice president of the elect he wanted to get that. to build this man who won an election fair and square who is there with his family trying to take in a show and enjoy himself and then to have
this sanctimonious actor get up there and lecture him at the end of the show. for all the things of the democrats report to be of inclusive big tent and what's not. it shows their attitude and i think those actors should be ashamed of themselves for the way they acted. about this is a politically themed show. it's all based on colorblind loyalties. it would've been the slave owners role. very good show. what i find offensive though is that i'm taking advantage of that or leveraging the success of that show to lecture governor peds. they have avoided that with other politicians have come in usually from the left.
why target someone on the right. >> they are targeted mike pence is views. he came off as a marked reasonable one between him and donald trump. they would be targets of the cast that do that. the boeing may have happened. i don't know if the actors themselves would've said anything. there are views that he holds that we should support gay conversion therapy that gets talked about very. whatever the distances are. i don't think the venue for that is reading off of an index card. and we lost because of it.
the actor have a great opportunity to see and up there and straighten them out. for the new vice president-elect. they should've been honored i think it's great. here's the other thing that is so offensive to me a lot of the activity i found they were to go see it anyway. you just said you would see it i always stop and see a play. that they presume on me. it doesn't exist. that is a conversation we need to have. i totally agree. there is the bigotry that's out there that if you're conservative that somehow if you believe that donald trump who is good to be the next president of the united states is can take the country in a
♪ now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things we love. prudential. bring your challenges. he has taken on a giant. they want to take out nancy pelosi as a leader of the democratic house. he said it's time for a new generation of leadership. looking at the numbers he might have may have a point.
the average age was about 72. on what he makes with that in the argument is that you need. what he think. >> i think you do. i think this is a problem going on for the democrats right now. the damage that has been done to the lack of a bench in the democratic party which you have for barack obama since 2008. for instance it's made the democratic caucus far more leftists than it was. there is no middle there anymore. it is very politics oriented. same thing you head in the senate where you lost seats. particularly down in the house race.
it's night -- nancy pelosi. to a string of disasters. yet she is favored to win because of the ideological extremities in the house. they're talking about you need to go and appeal of the new democrats. the blue-collar voters. they don't want to hear about coalition. you have a man running for chairman. who is pretty extreme by many jewish organizations. for the total gun control. how does this help you need a new generation of leaders. it is suffering.
when you talk about making joe biden chairman of the democratic party former vice president you have a problem. see you think that that idea that there can be pushing for some of them they probably won't get it. and then what happens in the next few years. i think there will be some effort to in fact depending on what they have there will be an effort to get more. he would've been a better choice. the problem is you have a coalition's. they may just want to stay with them. yet discernible or later recognize that this is not
neil: all right, i think president obama just said i am so done with this, i'll be out of here on january 20th, so putting an end to fighting amnesty issues in court. former reagan economist diane on whether trump is better suited to deal with this. obviously, he will be the new president, and that's pretty much the message from the obama administration, it will be his issue, and it will hopefully be his issue to solve. what do you make of this? >> well, he's made it very clear on the campaign trail that he loves immigration, that he loves legal immigration, and he wants to have more expeditious legal immigration and less illegal immigration starting out with removing criminals who are here illegally in the country. and that had a wide, resounding success throughout the country. and he is, obviously, going to imelement what he said on the
campaign -- implement what he said on the campaign trail. neil: now, what will the fallout be? he's already dialed back some of the harshest terms he talked about on the campaign;s that is, shipping them all back, 11-15 million of them or deporting them in waves. i think now the largest number is 2-3 million of the so-called bad hombres as he put it, criminal backgrounds or done bad stuff while they've been here. do you think that's where he leaves it or what? >> well, president obama has also deported 2-3 million people, and mr. trump has made it very clear that he want to make it easier for people to come here legally, and i think he's going to look at on a case-to-case basis people who are here who are not, who are not criminals. but that remains to be seen, and what's most important is following the law. and it's congress who sets these laws. it's the president who enforces
them. and president obamas has not done that. -- president obama has not done that. he just lets people walk acrosses the border. we have isis setting up bases in mexico. it's just not safe to have that level of insecurity in the united states with people who want to kill us. neil: so if he's also talked about being flexible on the so-called wall, maybe part of it will be a fence, maybe this won't be a wall per se or one that the mexicans would pay for, but that we will and then demand payment from them later, are those mixed messages you think hurting him or just kind of redefining him on this issue? >> i think it's clear that he wants the security of the united states. he says he's going to start off with a wall, and mexicans are are going to pay for it through higher visa fees. he explains it very clearly in this book, "crippled america," that there are visa fees who can be charged.
nobel prize winner gary becker advocated auctioning off visas starting at $50,000 and then going upwards. so tre's clearly a substantial amount of revenue that could be gained from charging better prices for visas. and i don't think that mr. trump is stepping back on his central premise that we need to make america safer, that we need more legal immigration and that illegals who are criminals should not be in the country. neil: diane, real quickly while i have you here, he's obviously still meeting with lots of folks from lots of backgrounds including even some democrats for key administration positions in his cabinet or senior staff. but on the economic team, he has sent out signals that it might be a wall streeter that could be someone, you know, from that background. mixed messages and responses on that. what do you think? >> well, i think there plump is interviewing -- mr. trump is
interviewing a wide volume of people. he has a big mandate from the american people for change, and he's going to make that happen in the most efficient and effective way possible. neil: do you worry though that that it's a wall streeter? some populists have told me, the very ones who backed mr. trump to begin with, said that's not the kind of bern we want -- kind of person we want in there, we don't want someone whose loyalties might lie to wall street. do you think that's a silly argument or one that mr. trump should weigh? >> i think donald trump and mike pence are right now picking the most talented people, and experience on wall street should not be a disqualifier. if you're going to regulate the banking industry, you need someone who has experience in that industry. you don't just want to pull someone off the street who has no experience in banking to regulate banking. so they're going to pick very talented people, and i don't think anything should be a disqualifier. neil: you hope. thank you very much, diana, good
seeing you again. all right. it is unusual to see something like this, but the president-elect meeting with the powers that be in the media industry to talk about the media's access to the next white house, we're talking representatives from abc, cbs, nbc, cnn, fox news, fox business, you name it. they're all powwowing with the next leader of the free world. how's that going to go down, and what's going to come out of it? after this.
>> from the fox business network, i'm ad am shapiro with your fox business brief. an increase in commodity prices is helping push the s&p 500 and nasdaq toward potential new closing records. the dow is up roughly 58 points, shy of 19,000 by 75 points. that increase in equities is too little, too late for the city of dallas, texas. the dallas police and fire pension system wants the city to inject $1.1 billion into its pension fund to keep it afloat. that figure is almost equivalent to the city's annual general fund budget. decades of bad investments, overly optimistic investment returns and the city council's failure to adequately fund the police and fire pensions have led to a debt load worse than any other city in the country except chicago. contributing to the problem, retirees who have yanked more than $200 million from the pension after administrators recommended closing the program that permitted large block withdrawals. more cavuto coast to coast right after this.
neil: all right, another icy little chat, a final meeting, if you will, between president obama and vladimir putin. former homeland security department official, douglas smith, he was in that role the first few years of the obama administration on what the new administration and relationship with russian leadership could mean. very good to have you. if looks could kill, obviously, they would tell a lot. but these two don't like each other and, obviously, tensions
have gotten even tougher. do you think it'll be any different under donald trump? >> i think tragically. no i think putin is a very, very talented sort of counterespionage officer. that's what he was first trained for, and that's what he's done his entire life. and i think it's going to be a real fight for president-elect trump. one of the big challenges is putin's back is up against the wall. with oil prices depressed, the things that drive the russian economy are down. i think right out of the gate he's going to have some serious fights on his hand whether it be cyber warfare be, syria, i mean, just today they announced deployment of more missiles within the baltic region to counter some of the nato shipping lanes. so i think president-elect trump's going to have his hands full with mr. putin. neil: he talks about the idea that he could have a very good relationship with him, and that wouldn't be, you know, at odds with being tough with him. do you agree with that? because it was george bush who
famously said i looked into his eyes and saw, paraphrasing here, the promise for working together, and it really didn't pan out. so what do you think? >> yeah. i think he's in for a real tough ride. i mean, you need to remember that when putin first graduated from the kgb academy, he was put in there to recruit diplomats, to try to turn them, to do counterintelligence espionage, and that's been his career path his entire, you know, time whether he was president, as a kgb officer. and be i think what, unfortunately, donald trump's going to discover is this isn't negotiating across a boardroom table. putin is not afraid to take the gloves off. we saw it during the election with the cyber hacking. the cyber is going to continue to go on. after china, i mean, russia is a close contender for who's going after our economy more than anybody else. i think putin is going to try to size trump up, figure out how he can play to his ego, pressure him, he's going to see who he
picks as secretary of state, homeland -- neil: let me ask you about that. one of the possibilities could be mitt romney who had warned that russia was the number one threat to our country, an argument that got dismissed by many. how would that jibe as secretary of state who has such a cynical, maybe realistic view of russia with a president who might not have quite a cynical a view as russia? >> right. well, i think the challenge for the incoming secretary of state is that to tackle russia isn't just to tackle it just as secretary of state. it's going to have to be a coalition between the nsa, the cia, the president's national security adviser working together, and i think that's going to be the real challenge on whoever the president-elect picks. they're going to need to be able to work across the inter-agency to create a unified approach on how they deal with russia. i think secretary rice saw that when she left the white house and went over to state. all of a sudden she was on the outs from a lot of the people that were within the wte house. and i think the challenge --
and, look, i think governor romney's a talented guy, and i'd actually rather see him at dhs than at a state. i think he's going to have his hands full both expersonally with russia and also the rest of the trump team and how they have a unified approach to take him on. neil: we'll watch closely. the whole world will, i'm sure it's safe to say. secretary, thank you. >> my pleasure. neil: we still have a ways to go here, but a lot of this has to do with growing optimism that the economy's going to pick up. one of the them, the anthem/cigna pairing that's already being opposed by the justice department, now making a pitch for why they should in court combine. we'll deal with that from charles payne after this. ♪ i know you're my financial advisor, but are you gonna bring up that stock again? well you need to think about selling some of it. my dad gave me those shares, you know.
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♪ ♪ neil: all right, they're taking their case to court. anthem singing the praises of its $48 billion deal, you know, and that's what it's wanting to do. the cigna deal, i'm talking about. the justice department's opposing this deal, but both of these are saying, you know what? it still makes good sense, and in the new environment, it makes even better sense. will it be a friendly environment for such mergers? controversial though some of them are? charles payne, what do you think? >> well, coming in, the new administration? neil: right. does it make any differencesome is that just outside noise when we're this far along in the process? >> i'm to not sure. but i do think it's an important case, because i really felt like the obama administration took it too far. neil: they didn't fold to the justice department here. they're fighting it. >> yeah. think about some of the mergers that may stopped. office depot and staples. they're getting crushed by the internet. neil: you're right. >> they're going to be the kings
of brick and mortar. it doesn't matter. neil: right. >> and some of, you know, they just sort of drew up this sort of arcane way that they would go against them, and i think it's more of an anti-capitalist, anti-business thing with them. i'm glad to see anthem and cigna going through this. it's going to be interesting to see what the courts say about this, because i'm not a big worrier about mergers. i don't worry too much about monopolies. i do believe, ultimately, the free markets have a way of creating the right kind of competition the knock off no knop byes who generally do -- monopolies who generally do get lax. neil: the dow in and out of all-time highs, a number of other averages at or near lifetime highs, what's going on here? because it hasn't slowed down going on. >> there's a couple of things. there are some factual things that have been happening that i think have been overshadowed by the political news. almost all the key things that i look at in the last two weeks have been phenomenal.
consumer confidence came in much higher than expected. what i think is intriguing with that, the survey was taken october 289th-november 8th, it will include the trump victory. i'm looking for that number to spike even higher. wages have been going up, we saw productivity, even mining coming on. so almost key areas that, you know, listen, they've just been lost out there. but i believe that we've got enough of a ripple that donald trump has the ability and a chance to turn into a tidal wave. one thing i tell people all the time, we know about low regulations, we know about low taxes. those are mechanical issues. the real issue of sparking a successful economy is that people have to believe it. i'm telling you, i don't care what your economic plan is, a large portion is self-fulfilling, and be i think right now we're at a point where americans believe. neil: you know, i think television peter morici -- i think it was peter morici talking to stuart varney, i'm paraphrasing, but the gist of it was he was telling stuart i
don't think the tax cuts will be of the magnitude that trump wants. that got me thinking that if you scale those back and they're not big, why do them at all? >> yeah, well, here's the thing, i don't think big business needs 15%, to be quite frank with you. i think 25% for big business, 15% for small business -- neil: but the assumption he was making, charles, is that it wants to get this through congress. wouldn't it automatically get through? >> that's been the wildcard. it's one of the main reasons we've got this market rally. almost anything donald trump wants to get through, he's going to get through. neil: let's say they do what you say there, it's not 15%, it might be 20-25, which is still a drop from the top range of 40%. >> sure. neil: how are people going to feel about that? >> i think the street can handle that, i do. first of all, i think consumers with more money in their pockets
will feel better. obviously, though, what's really -- i call that sort of backward prosperity, just like cheap oil. net-net you have more money, but we all want a fatter check. i think that comes as the economy grows, as demand grows. all the pieces are in place. now listen, the market could get ahead of itself, we know that's possible, and i've seen it in certain industries. but i think the overall gist and the message from the market right now is spot on and the idea that we can have some sort of sustained economic revival that's based on the fact that people believe. so when people believe, you're going to see household formation increase, business start-ups increase, you're going to see people spending money increase, business investment increase. those are the key components that have been lagging throughout this so-called recovery. neil: so it could be a self-fulfilling prophesy. real quick, this meeting going on at trump tower with all the media executives, our own included, cnn -- >> yeah, they're invited under
the nbc invite. neil: i understand. what do you make of that? obviously, donald trump -- and kellyanne conway was recommending this to get this straight with the media. donald trump has said the media's been unfair to him. they're all there talking to him now. >> they're all talking to him now. i think kellyanne conway, i saw her on four channels alone this morning, so she is certainly the diplomat here. it would be nice to see everyone get together talk about, perhaps, the rules of the road. i think a -- what you're going to hear is the media say it's a two-way street. give us a little leeway. but let's face it, the mainstream media is a liberal bastion, they're not going to change, and they are going to question -- listen, we're going to question donald trump -- neil: absolutely. if you're going after a broadway show, don't be so thin-skinned and don't punch down. >> yeah, yeah. i definitely wouldn't have punched down at hamilton. neil: you have bigger things to worry about.
>> listen, pay attention because barack obama's trying to tweak that iran nuclear deal. neil: that's a worry. [laughter] thank you very much. much more after this. ♪ ♪ ♪ how else do you think he gets around so fast? take the reins this holiday and get the mercedes-benz you've always wanted during the winter event. now lease the 2017 gle350 for $579 a month at your local mercedes-benz dealer. what powers the digital world? communication. like centurylink's broadband network that gives 35,000 fans a cutting edge game experience. or the network that keeps a leading hotel chain's guests connected at work, and at play. or the it platform that powers millions of ecards every day for one of the largest greeting card companies. businesses count on communication, and
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i am ready to be cured. are you ready? ask your hep c specialist if harvoni is right for you. neil: all right, we have the latest now on all these appointments, high-level appointments that are going on now at the trump tower. we have thatted media powwow -- that media powwow going on, networks speaking to the president-elect who's not been happy with the media, so we'll sort that out. charlie gasparino on what he's hearing on who could fill out that trump cabinet. sir. >> yeah, some of the latest stuff. we hear commerce secretary could be announced imminently, in the next couple of days. treasury secretary, over the next week possibly into the next week. barring a last minute change, it looks like commerce secretary is going to be wilbur ross, at least that's where trump right now is leaning towards. no final decision's made, so i always say until you see the press release, it's not a done deal.
but we're getting indications, he met with the president-elect this weekend. obviously, donald likes him. everybody in the cabinet likes him. he's an older gentleman, but commerce is not exactly the most highly taxing job. what do you do as commerce secretary? you essentially are a liaison to the business community, and you raise money for the business community going forward. i think that would be a good job for wilbur who's a billionaire, he doesn't need the money, and he knows everybody. neil: now, these powwows, or we sue him at the bedminster golf club, why does trump do it? only a fraction of them are going to get jobs, but it does look good. >> he's good at this. this is a high-level, high-stakes jobs fair. you come in to trump tower, you walk by the cameras, you come out, you say a couple words. by the way, it's trarnt -- transparent. you can't criticize donald,
completely transparent, you see everybody he's talking to -- neil: that's a very good point. it's a very -- >> they're making a big thing out of him meeting the indian businessman who he might do business. the only reason why they know that is it's before the camera9s. -- cameras. it's showing the american people how this business gets done. neil: but can you honestly see mitt romney in a secretary of state position given their bad blood? >> that's a great question. steve mnuchin, his campaign chief, finance chief, still in the pole position for treasury. a lot of people say hensarling, there's a theory -- neil: jeb hensarling, the congressman -- >> the head of the house finance committee might be his number two. neil: oh, that's interesting. >> and, yes, mitt romney -- here's what we understand. mitt romney has indicated he's interested in the job. the question, you know, listen, rudy giuliani, from what i understand, is still the odds-on favorite for the job internally. now, rudy's got some issues
regarding some of his private business issues. i don't think they're legal issues, they're just vetting issues. he has to explain who he got money from, did business, and there are some to -- neil: but no new administration that's coming in likes too much controversy. >> right. but look at it this way, when jack lew took treasury secretary, now, i know it's a different standard for republicans. you always get harsher vetting. he ran the mortgage department of citigroup before that which, by the way, imploded citigroup which probably caused the financial crash -- neil: very good point. >> we should also point out as we first reported, jpmorgan ceo jamie dimon indicates he's not interested in treasury -- neil: has he been ask? >> the asking, what i understood, was not like donald calling him up. the asking, from what i understood, was, you know, one person or two people within the transition team reached out and
said are you interested? he said, no, but i would help you as an adviser. neil: really? >> i think, listen, if donald -- there's something in donald where he's told people that he'd like dimon maybe for that job. i know that for a fact. if donald called up dimon, maybe jamie would relent and say yes, but that's a big if. he's telling him no. he's -- neil: but a call from the big cheese can make a difference, which brings me to my next question for you. in these announcement, charlie, unlike old days when president-elects have stood outside and announced themselves here's my choice for whomever, it's being done like this. >> yeah. and -- neil: and does that make a difference? >> from what i understand, it is a more formalized process when you get in to trump tower. neil: but he's not the one, you know, having a press announcement and coming out and doing it himself. like we've seen in the past from both parties. maybe not all the time, but enough of the time that that's my memory of this.
>> you also had a vetting process -- neil: absolutely. >> -- among the underlings. it's just a lot more transparent. neil: let's say charlie gasparino was an economic adviser pick -- >> you got me mixed up with another personality. [laughter] neil: i might. if they decided through the vetting process that gaspo's the guy, donald trump says, here's my guy. >> right. neil: here he's not doing it that way. people are making the announcement, and they move on to the next one. what do you make of that? >> i don't think it's that much difference, to be honest with you. the end result is the official announcement gets put on paper, and it says from donald trump. i think one of the things that you're going to see with trump, and this always -- this is why i was always suspicious of the dimon stuff, is that his economic advisers and all his advisers have to have some sort of likeness to his policies. they have to, you know, agree on certain level of some of the stuff that donald ran on -- neil: that's why the whole romney stuff would be so at odds.
>> well, that's personally at odds -- neil: no, no. i'm talking about his views of rush. >> versus trump's views, his views of what are the real global threats. it doesn't jibe, we've seen more unusual things. >> by the way, that's why dimon doesn't jibe. dimon's for big banks, he's for keeping dodd-frank, he's for higher taxes on the rich, he's for open borders, he gave a speech on it, i believe, in 2008 -- neil: i didn't know that. >> yeah. dimon is a liberal. he's a pro-business liberal more in the glint camp -- neil: and one who grew disenchanted with barack obama. >> because the democratic party went so far left, that's why. neil: thank, buddy. you're the best. you've heard it here, gasparino will turn down any cabinet positions -- >> my name is not eric. [laughter] neil: in the meantime, former virginia governor george allen on reports there's actually some division within the economic ranks when it comes to issues of trade and regulations, but
specifically potential trade wars. and that, i believe, governor, the concern is that donald trump might be very aggressive sort of building walls fig rah tiffly and literally to the detriment of reaching out economically globally. do you share that? >> well, first of all, happy victory monday, neil. good to be with you. neil: good to have you. >> i think that donald trump's going to, i think, try to keep the promises he made to the american people as far as, you know, securing and controlling our border. finish i think what he'll do as far as some of these trade agreements is look at specific chapters, say with the north american free trade agreement that may need to be amended. also because of nafta, a lot of our economies have been integrated, particularly with, say, auto chassises coming in from windsor, canada, to be built into automobiles in detroit, michigan. and so i think there's several things he'll do to say similar
to when i was governor. i wanted everyone to know in the world that virginia's open for business again. i think donald trump wants america to be winning again, domestically as well as -- neil: how far does he go with that, governor? you could argue that just talking tough enough to get kind of what you want. you could interpret one way or the other, you know, ford making a decision on its suvs, to keep building them here. that was never in doubt. but just to put out such an announcement in the face of, you know, donald trump criticizing them during the election for building small cars in mexico reminds people, as does apple's decision to look at maybe making a lot of those iphones in the u.s., the trump effect is on. >> well, and it's very good. because i think there's several things he wants to do. he wants to make america more competitive on tax policies. you and charles were talking earlier. it's the international average of taxes on business is around 20-25%. he also wants to repatriate the
billions or trillions overseas, bring them back into the u.s. so it's invested here. donald trump is very pro-energy. that gives us such a competitive advantage. our low natural gas prices for the manufacturing of metals and plastics and chemicals and fertilizers or and so forth. so if we have a productive energy policy in our country which means lower costs for electricity as well as for manufacturing, a competitive tax policy, he wants to rein in all this regulatory red tape which costs businesses, particularly small manufacturers, as much as $35,000 per year, per employee. all of those will matter a lot. and then uphold the rule of law. and if anyone's cheating in these trade deals, then they need to be called to account. you can't just get slapped around and let these folks get away with cheating on these agreements. and i think, ultimately, for a balance of trade our liquified natural gas could give our
friends in europe another choice of getting natural gas rather than being really a captive customer of russia. so there's a lot of leveraging that our energy policy toes could have for us -- policies could have for us as well as our allies around the world. neil: governor, thank you very much. governor george allen -- >> have a great thanksgiving, neil. neil: you too, my friend. be well. in the meantime, are celebrities so out of touch with voters when they keep complaining about an election that didn't go their way that they should just cease and desist or what? ♪ ♪ can i have a 2017 lexus lx 570... yeah! wish big... at the lexus december to remember sales event.
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>> i love my husband! [laughter] president barack obama. >> i love bruno mars. [laughter] i don't know what color he is, so i can't deport him. ♪ ♪ neil: we didn't even quote the hamilton broadway show there. so many opportunities but so little time. what to make of celebrities who are still not over an election that didn't go their way. media research center director, media analyst tim graham. what do you make of this, tim? >> yeah. it's more of the same. it's like the american people basically said we don't need lecturing from you wealthy celebrities and supermodels about which way to vote, and they're basically saying, hey, we're doubling down on this. we don't care if you don't like us. neil: you know what's odd though, i could almost see at a broadway show, offensive as it is targeting one person in the
audience to lecture them, but the other stars still going on and on about an election that didn't go their way. i always think be the it were reversed and it were trump loyalists doing this in the face of a hillary clinton victory, man, oh, man, you'd never hear the end of it and how they would be constitutional anarchists, sore losers, etc., etc. >> well, we can obviously imagine, you remember michelle obama going to a nascar race if one of the drivers took a mic and said let me tell you what's wrong with you and your husband? neil: very good point. >> i don't think the news media would respond well to that. but. neil: but the news media actually agrees with this. hence the disproportionate coverage it gets and then lecturing donald trump for making a big deal of it. now, they do raise the point as did karl rove that maybe donald trump shouldn't bother with this, maybe he shouldn't be
tweeting about it, it's analogous to punching down, but it should be mentioned and reflected on. i think, generally about how fair and right is that. >> it's funny how, yeah, obviously everybody's sort of saying to, you know, you're the incoming president, you probably shouldn't be on twitter, you know, you probably shouldn't punch down, this is the handbook, you know? but on some level i think everyone who voted for trump likes this and feels like he needs to, somebody needs to stand up for him. maybe you have your surrogates stand up for him, and i'm sure they do. but, you know, again, the american people are tired of multimillionaire supermodels and broadway stars telling them that they're in touch with the common people. earth to you people, you're not in touch. neil: you know, that's a good point. i mean, you think about it, if he feels the media -- donald trump -- is giving him a raw deal, i'm still wrestling with that issue on his part, but
having said that, in the middle of all of this, i'm hearing that howard dean has just called steve steve bannon a nazi. quoting here, he's a complicated guy. this is howard dean, tim. he appoints a reasonable person who's much more conservative than i am, but for somebody who could talk to as a chief of staff and then his senior adviser is a nazi. he's talking there about donald trump and the choosing bannon. what do you make of it? because i always think that nazis should be used for those who actually were nazis and leave it at that. >> well, it's howard dean, still screaming, still out of control. doesn't matter whether he's actually yelling or speaking calmly, he still sounds goofy. obviously, this is what politifact was supposed to be invented for. you know? they were supposed to pick out the facts and say that's at least half false. and again, this kind of wild
overstatement is absolutely accepted by the politifacts and the fact checkers, and then, you know, when we complain, we are the fake news people. neil: well, you're right. even "the new york times" talking about what happened at the hamilton show, that that it's just exercising the america that made donald trump. you know? that's their right. >> well, i mean, again, but it's -- that was not a dialogue. as larry o'connor said today on "hot air," it is a monologue, it is a lecture. that's not a debate. neil: you're right about that. >> that's the problem. neil: you start fingering people in the audience who don't maybe share your i view or you don't like, that's a slippery slope right there. thank you very much, tim. good seeing you again. >> thanks. neil: all right. meanwhile, president obama is more or less saying that, look, just because i'm kind of biting my tongue now, that guy next to me in the oval office last week, he keeps doing stuff i don't
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>> if there are issues that have less to do with the specifics of some legislative proposal or battle but go to core questions about our values and our ideals and if i think that it's necessary or helpful for me to defend those ideals, then i'll examine it when it comes. neil: in other words, he won't be too much like his predecessor in that regard. he will speak out if he feels president trump is doing things that he dislikes including unraveling his legacy. our read on that with morgan orr teg gas, fox news contributor lisa booth and democratic strategist michael feldman. michael, what did you make of that?
obviously, it would fly in the face of what president bush did which was, or i should stress, unusual. he didn't pipe up virtually at all through the eight years of the obama administration, and some republicans faulted him for that. but what do you think of when and how a former president obama should act? >> >> well, i will probably get in a lot of trouble with my colleagues, but i would say not at all. by custom and tradition, the outgoing president doesn't comment on the politics and transition in policies of the new president. but i believe president obama and his cohort really felt that this election was a personal repudiation. i would also point out that there are some serious internal discussions within the democratic party. we see challenges to house democratic leader nancy pelosi and my former boss, senator schumer, getting his legs under him as senate democratic leader. i think there he's also trying to lead the way with his democratic colleagues in terms of tone and message. so it's an internal
conversation. also really i think he's hurting. i think he's really stung not only by the election results, but the language that's come afterwards. neil: yeah, and i know he does not officially say to the public that it's a perm re-- personal repudiation. he himself remains very popular, so he thinks this is more the fault of a bad campaign. but what do you think of the posture he's going to speak up? it is in the tradition of presidents to do so sparingly. again, former president bush didn't do it virtually at all, but what is the right posture to take? >> i think it'll backfire. ultimately, he would be undermining a current sitting, and i think there's a reason why people like george w. bush and george h.w. bush and president reagan didn't speak up. they're not just average american citizens, they're former presidents, and they need to give their president the space to make their case. i also think if you look at politically, neil, the 2018 senate map is actually quite in favor of the republicans, and there's sitting democrats that
have to defend seats in florida and montana and west virginia and missouri where democrat incumbents are there now. it's going to be tough for them because trump won those states in 2016. so, therefore, if they've got president obama sniping at his heels and that backfires, they have to defend their seat and defend actions that a president's taking that would not, ultimately, be popular with the american people. neil: you know, lisa, he is still the most popular democrat out there, that is the president, and it is tempting for him to martial support for programs and initiatives he thinks are going to be up done by a president trump. so how does he do that, or should he not do it at allsome. >> well, he is personally popular, but you have to look that his policies have been rejected by historic margins. the democratic party holds the fewest state legislatures that they ever have in history. he has lost both the house and the senate by historic margins under president obama as well, and i think this past election
was also a referendum on president obama's policies. he was the one that said that his legacy was on ballot even though he was not, and i think it's fitting that president obama's laying the groundwork for being a critic of president-elect trump on foreign soil because he was the one that took the unprecedented steps of criticizing donald trump as a candidate on foreign soil. and this election, make no mistake, this was a repudiation of president obama. you even look internationally, and what did president obama do during his first hundred days in office? he went on an a apology tour, apologizing to three continents. donald trump ran an election on america first which is a direct repudiation of the increased globalization we saw under president obama. it's also a reselection of the issues -- rejection of the issues that donald trump talked about of unwinding from president obama like obamacare, like his immigration policies as well. yes, it is perm for president obama --
neil: i can understand that, michael, and there's also the difference -- a big one, i think -- that the president is only moving a few blocks north, i guess. so he will still be in washington, d.c., his youngest daughter will still be going to school, so he'll still be in the neighborhood, and there will be a temptation of the media which las vegases him, you know -- loves him, you know, to pepper him with questions, what do you think, and he's going to say something. so by almost design, his location will prompt comments, right? >> i think whether in washington or new york or l.a. or chicago, they'd find him, and he would be able to opine and weigh in on these things, but i through it's also an important distinction between opining on domestic policy and discussing foreign affairs which really the united states should be speaking only with one voice whether or not the outgoing president agrees with -- nile neil so it -- neil: so it sounds like you would be telling him to shut up. >> i would parse that a little bit and say express your
opinions locally and domestically and stay out of foreign affairs. neil: what do you think of that advice, morgan? >> i think he should take george w. bush's advice and be quiet. there's plenty of things he can do. i think this reflects a lack of leadership and a very, very thin bench in the democratic party. they're looking to him because they've got nobody coming up that can lead, no one that's inspiring. just a 74-year-old socialist who turned back to being an independent. neil: you're referring to bernie sanders. >> i am. [laughter] neil: thank you very much, guys. we'll see what happens, but i find it difficult to believe he will pass up an opportunity to say something. all right, the markets right now at or near records back and forth even with, even with the threat of so many bad things hitting them at once including now a loan crisis, a europe in disarray and now the next country that could take a hard right.
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odd the transition process is that mitt romney and donald trump got together in a room, we're told about a key role for the republican nominee to play in a trump administration, secretary of state. former romney policy advisor is with us right now. sara, what did you think of that? not so much donald trump inviting mr. romney to come but romney coming, going there, talking to him, weighing a cabinet appointment? >> initially it was surprising. his march 3rd this past year was tough on donald trump. he talked about trickle down racism. neil: right. >> he talked about donald trump as being a phony and a fraud but then again i think romney is a public servant at heart and duty is very important to him and i think, you know the foreign policy space is something that he just eats up. he loves it. while i was surprised i also understood if the president-elect calls you go and take the meeting out of respect.
neil: why, why do you do that? why do you do that? if you call the guy invited awe fraud and a phony don't you like like a little worm going to see him. >> so i thought about this a lot this weekend. on the one hand again he is the president-elect and he could have said, you know, i respectfully decline. neil: i got laundry to do. i got to take the garbage out. >> i got things to do, right. if he is concerned about the way the administration is shaping up and if he thinks he can offer something to the table, that he can offer global credibility and he can calm the fears some moderate and establishment republicans and democrats make he was taking into that into consideration as well. neil: you could be right. i'm amazed governor romney more to the point, given what he said i see donald trump given the good judgment, time to bury the
hatchet with a lot of folks and invite him to see him but this one blew me away. also on policy matters themselves, not romney if he were to be secretary of state russia is a big problem. four years ago he got laughed at correctly citing it is the biggest global threat out there. i don't think he is changed his views on that. donald trump thinks he can work with vladmir putin, maybe he can but on a key issue they're already ad odds. >> hugely far apart. romney as you mentioned in 2012 said russia was our number one geopolitical foe. neil: he was right, dead on right. >> you can go back to romney's a book, no apology, putin, putin saw the dissolution as soviet union as number uncatastrophe of the 20th century. this man wrote himself into the constitution. their nuclear arsenal is much larger than ours. they increased their annual military budget by 600% over the
last decade annually. we have major issues here with russia. and trump's been very clear he thinks it would be interesting to try to work with putin. they're so far apart. i don't know, could governor romney swallow it and just, you know, take orders of the president to engage in that manner? i don't know. neil: i don't know. it is weird but it maybe i'm only one who finds it so weird but you have raised eyebrow reaction yourself. former romney advisor. great seeing you again. >> thank you. neil: i want to take you to trump tower we're getting a little too serious about this. little's all celebrate the naked cowboy. there is the naked truth. sit back and listen to a little music and think about the future of america.
>> very good afternoon live on the floor of the new york stock exchange. i'm lori rothman with your fox business brief. all right, we've got record highs. three benchmarks averages, on wall street, call it the trump rally continuing. dow, levels we haven't seen before, 69 points. 18,093. want to look at energy prices because bitter cold swept into the northeast. many commodities, look at natural gas up 2.%. heating oil much higher today. heating oil up better than 4 1/2%.
now the price of crude oil is also higher today, about a 4% jump for crude. that is it really what's powering the stock market today as energy related stocks are among the best gainers here on wall street. now speaking of all of these energy stocks, have a quick look at the national average price of gas, actually down. second cheapest price at 2014 a gallon since 2008.
neil: by the way, i know it's monday and you don't want to thing of horrible things the thanksgiving week but we could have a new financial crisis on the way a student loan crisis. charlie gasparino with some of the details. charlie? the. >> interesting. as you know, neil, we bailed out the financial sector. we bailed out, we had auto bailout back in the '70s, but when i talk to a lot of wall street guys they talk about a student loan bailout. these are the interesting numbers on stats. default rate stands at 11.3%. that is pretty high considering the mortgage default rate before the financial crisis was something like 8%. that is $121 billion in defaults. now that is less than half of what it took to bail out fannie and freddie, the dimensions are different. this is the crisis a lot of people on wall street are talking about, donald trump may inherit in the years to come. if these, if these default rates keep rising, if kids come out of college still, can't get jobs
and they walk away from these loans, federal government will be on the hook for big bucks and it will be, i should say the u.s. taxpayer on the hooks because 11% default rate is pretty hefty. like i said during the mortgage crisis it was something like 8%. we're talking different dimensions. 121 billion. i can tell you fannie and freddie, when they went under, that was the big mortgage insurers, the federal entity that basically helped get mortgages to people and it was trouble because a lot of people defaulted on the mortgages, it needed something like a $200 billion bailout. that is one entity, just as twice as much as what the current liability for the federal government but you can see how these numbers add up. $121 billion, if it rises to $200 billion is not something to sneeze at. this according to my wall street sources is coming down the pike. back to you, neil. neil: charlie, i, i want you to
stay there. i bring in gary kaltbaum. what about the new president donald trump takes over and facing something of this magnitude? >> we have enormous problem, if you look at what the level of debt, about 1.3 trillion in total, and if you look at the average amount owed, you've got roughly 30% of the working population is having to pay $350 every month on student loans. that's a huge headwind to the economy because that is money they can't spend on buying a car, on buying a house, on growing their future and maybe being an entrepreneur because they don't have the ability to take risks they would like to take to say start that company. we're seeing that in what is happening with the lack of innovation. it is a very big problem outside of just the fact that there is potential he defaults coming down. neil: you know, gary, when you hear something like this, obviously donald trump has been opposed to the auto bailouts but
he massaged it a little bit during the campaign to say it was issue of bad management and all of this. but that he was very leery of a federal government having a role as big as it ended up being. but that's a tricky tightrope for him, is it not? >> once you become president, if all heck breaks loose you have to take some action, and look, in this case when you take out auto loan and don't pay it, they will repossess your car. when they take out a student loan and don't pay it, what will they repossess the little refrigerator in the dorm? they have no collateral this is too much easy money and ability to get it, causes institutions and colleges to raise tuition infinitum so many years, if you compare cargoing up in price, the average car would be $75,000. bad thing all the way around. it is not close to where the mortgage market is. expect if this continues, because there are 40%
delinquencies, if it continues something will give and somebody will be paying for it and it will be us. neil: charlie, what do you think of that, people fear just that. >> i said 11% default rate. delinquency is not in default but that is huge at 40%. not necessary hely bad to go into debt. to borrow to get a college education where you pay back that debt, actually is positive for the economy long term. it doesn't matter how many people are in debt. the notion, the problem here when you can't pay it back because we don't have an economy producing jobs. this puts the onus not just to figure out this problem for donald trump but also get the economy going. i think one of the positive things here is that he does have a pro-growth agenda. needs to be hashed out exactly how we go there, whether the infrastructure rout which i think is incredibly inefficient. up barack obama tried that and didn't work.
or corporate tax cuts, less regulation route which a lot of his advisors want that would go a long way getting economy going and getting kids job. >> let's not forget politics of it. there has been certain politicians out there talking oh, it being free and being forgiven. >> that's a problem. >> when you tell students and free, may be he forgiven, oh, terrific, let me take out more that is the type of attitude that gets things going the wrong way. neil: good news, to gary's point, lenore what i worry about is president trump could come in say, look this is something i inherited from the other guy. i have to do something about this which would hint of some sort of a rescue and he would argue, look, this dropped in lap and i just can't ignore it. >> the problem we're not focusing on the real problem here. the problem, yes, there is not a problem with taking out a loan if you're going to create something of value, but the problem kids are paying way too much for education today and
they're not getting a value that is commensurate with -- neil: that would feed that beast, wouldn't it, charlie? bailout perpetuates the same behavior. >> called moral hazard. listen, here is the bottom line, kids go to school, if they go out for fine arts degree and put themselves $200 million, $200,000 in debt, guess what, it will be really hard to pay that back. some relies on individual. they shouldn't make the same mistakes during the mortgage crisis, but the lot line, guys, whether you like it or not is the economy. the economy is not producing jobs for these kids to repay these loans. it is not. neil: lenore, go ahead. >> it is, charles, that is just like the predatory lending we saw with the mortgage. >> come on. >> predatory lending? >> made no sense for people to take down, to 2% down on home. >> that is not the lenders fault necessarily. that is the individual's fault. that is a big problem. >> these are kids. these are 17 kids.
>> learn how to add. learn how to add. neil: i know what your views are of young people. gary, lenore does raise a point here bears watching. if kids were duped, some of them were stupid, but if they were duped and they are stupid do we have an obligation to, you know wave our finger say, just this one time but we'll never do it again? because we keep doing it again, right? >> if you give them one out, they will want a second out and a third out and a fourth out. there has to be a point in time where we go backwards, wait a minute students, used to pay back their loans much better than what they're doing right now. charlie makes a great point. there is a vicious cycle right now. neil: this is very high. >> very high. neil: lenore. >> in 1971, if you went to harvard in 1971 it costs about 13 weeks worth of median household income. today it is not 13 weeks, it is
52 weeks. >> don't go to harvard. neil: there is that. >> i mean there in lies the vicious cycle. >> you can get a good education at state school and not pay the harvard rates. you can do it, if you're smart and you request get through it. i could have went to columbia j-school and went to missouri. neil: look what happened to you. >> i ended up here. >> case proved. neil: exactly. seriously. it is interesting. see what happens. if there is some thinking here because we're at that pressure point. a lot more right after this.
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new rules will prevent everything from golden parachutes to the bank's lending practices going forward period. gerri willis with all the details. what is going on? >> neil, this is amazing. officer of the comptroller of currency, so-called occ, regulator of banks, tightening screws on wells fargo. they announced this late friday hoping everybodyould miss it. the bank can notssue a golden parachute to executives. that is out of the question. make it harder to get people in the front door to take the top level jobs. if they want to fire senior executives or hire senior executives they have to talk to regulators. imagine that, calling washington for something like that? any change to their business plan. so let's say they want to close some bank branches. well they have to call the occ and tell them about this. this is government putting its hand right into the business of a major lender in this country and look, yes, the bank did a lot of things wrong. they signed a 185 million-dollar
settlement with the occ because of scandal around sales tactics and selling 2.1 million bank accounts that were bogus, but i have to tell you, they have already had that settlement. now they have reopened it for these extra things, other gimmicks and penalties i described. a lot of people say it is just too much. this company, wells fargo is paying the hard way, that is because consumers are walking away from it. checking account openings down 27% month to month in october. 44% year-over-year. so, look, at the end of the day i guess, they're taking some small comfort from the fact that their stock price has been doing pretty well. 52 and change as you just showed. they got a big boost from donald trump, when he took office. but, i know a lot of people out there asking questions, why would the occ reopen a settlement signed by everybody to make these kinds of changes. neil?
neil: what i wonder about, gerri, the changes you do for one will you institute for others? in other words the sins of one player you make the punishment for all? we've seen that with mortgage lenders in the past and we've seen it with a host of other industryies, under the guise we're protecting average folks. i don't know. >> well you couldn't be more right but reality is you already had a signed agreement. now this company needs to go forward, solve its problems but it is hard to do that with the government with its hand right in the middle of this busine and i got to think that this is something they would like to do to all banks as you just said, get right in the middle of business operations. a lot of people in washington want to break them up. this is one way to go about it. neil: using this, the problems that they had as the lightning rod for change. gerri willis, thank you very, very much. >> thank you. neil: a look at market averages,
to gerry's point, if the markets are panicked about this funny way of showing it. since election day up 3%. s&p 500, little more than 2%. nasdaq 3%. this is market continues not bracing itself anymore for a president trump but looking forward to that. the fallout on that and what it could mean after this.
neil: all right. remember this house revolt that's going on on the sidelines here to unseat nancy pelosi and the that it's really going nowhere, to hear nancy pelosi. i want you to meet the guy, congressman tim ryan from ohio, who is trying to orchestrate that. he'll be my guest at 4 p.m. on fox news. if you keep on having losing seasons, you need to get a new coach. that was, of course, a sports reasons to which i was familiar. [laughter] which, of course, if you're having a bad time and you losing
games or whatever, what is it, maybe you got a new coach, is what you get. [laughter] so i'll explore that metaphor a little bit more in a couple of hours. now to trish regan to take you through the next busy hour. trish: we've got a lot going on, neil. president-elect donald trump meeting with top television executives at trump tower right now. he is said to have called this impromptu meeting with the help of kellyanne conway. what's he doing? what are they discussing there? we have all the intel for you with. welcome, everyone, to "the intelligence report." trump meeting with journalists right now as the mainstream media continues its all-out assault on his presidency. there's george stephanopoulos from abc news, we also understand lester holt is there from nbc news. again, some anchors of the mainstay evening news programs along with some of the top executives at these various news networks. the meeting comes on the heels