tv Your World With Neil Cavuto FOX News November 4, 2019 1:00pm-2:00pm PST
"your world" with neil cavuto and all that market and news that comes with it is coming up next. stay with us. ♪ ♪ >> neil: you are looking live at the white house where the president will be departing for a big rally in lexington, kentucky. no doubt eager to crow about bigger market rally. not just one. try three records. the dow jones industrials join the s&p 500 to all-time highs today. forget about defying gravity. what is amazing is how investors continue to find tough headlines as well. welcome everyone. i'm neil cavuto and this is "your world." wall street loves to climb wall of worry.
news for the president's tax returns that could be going all the way to the u.s. supreme court. four white house witnesses called to testify about refusing to do so today. house democrats releasing transcripts of witnesses who already have. what a day. so many incredible days. john roberts at the white house with the very latest of this one. >> neil, good afternoon to you. not happy about a big loss in court today. the president's attorneys will be going to the supreme court of the united states to appeal a second circuit court of appeal ruling that the president's accounting firm has to turn over to the manhattan district attorney eight years of the president's tax returns. the president's attorney has argued that he is immune from such i of an investigation. the panel so that we conclude
only that presidential immunity does not bar the enforcement of a state grand jury subpoena directing the third party to produce nonparty materials even when the subject matter under investigation contained to the president. if they were transcripts of depositions taken on capitol hill released today. the former ambassador to the ukraine saying that ukrainian officials told her of rudy giuliani's efforts to have her recalled. she also recounted a conversation that she had with the director general of foreign service about her recalled saying she -- there was a lot of concern for me. i needed to be on the next plane home to washington. i was, like, what? what happened? this is about your security. you need to come home immediately. you need to come on the next plane. also suggested that the policy toward ukraine had become stronger under president trump.
i felt that in the three years that i was there partly because of my efforts but also the team and president trump's decision to provide lethal weapons to ukraine that are policy got stronger. the other transcript is a former top state department aide michael mckinley. he was planning to leave the state department anyway but moved up his exit date after he was upset by the recall of yovanovitch and after reading the transcript of that call between president trump. he sank to see the emerging information on the engagement of our missions to -- domestic purposes combined with the failure i saw in the building to provide support and particularly trying time, that is in reference to yovanovitch. i think the combination was a pretty good reason to decide that i had no longer had a useful role to play. republicans pushed back against mckinley. he did not have any first-hand
knowledge of anything that he talked about. he knew about yovanovitch, but that was common knowledge. he only found out what he learned about the call with zelensky through reading the transcript. later this week as the helicopter continues to whirl in the background, we will get some firsthand testimony for the ambassador to the eq as well as both of whom were intimately involved in the campaign, not only to get rid of yovanovitch, but to help giuliani get some information from the ukrainians on joe biden. >> neil: that helicopter has nothing on you, john. john roberts. democrats say that they are simply doing what they promised with this investigation. republicans feel unimpressed with what they have seen. he's a member member of the house judiciary committee. what do you think of what they are saying? we're meeting you guys more than halfway. >> they are still not picked they have not released all of
the transcripts. they're not allowing the president's counsel to cross-examine the witness. they did not show up because of their lawyers advising them not to show up. i still don't think that we are anywhere near where we were in both the clinton impeachment proceedings or the next man impeachment proceedings. they had the opportunity to talk witnesses. and it all happened before the americans, to view exactly for themselves what was going on. >> neil: i talked to a number of your republican colleagues on this issue of the phone call -- the infamous phone call with the leader of ukraine as to whether it was a quid pro quo or withheld or delayed because of that. they were saying that even if they were a quid pro quo, it is not impeachable. do you agree with that? >> go back to the transcript. all that you have to do is
release the transcript for the american people to decide for themselves. there was not anything in the transcript that was impeachable purity gave the aide. the aide was given to the ukraine. unlike the obama administration that sent the ukraine legates. the trump administration sent them bombs and munitions to defend themselves against the russians. it's very hypocritical for democrats to say, what about this added to the ukraine when obama refused to -- >> neil: understand that. but if it turns out that it was at the very least delayed, and maybe that's not what ultimately happened. maybe it was held up for other reasons or that it was held up for failure of the part of the ukrainian government to provide the information that the president's thoughts. do you as a u.s. congressman and someone that would weigh in on impeachment, if it came to that, find that to be a high crime or misdemeanor? if it was the case? >> again, the aide was given to
the ukraine. >> neil: it to fit turns out that it was a link. >> i don't see anything in that transcript that was a high crime or misdemeanor that would fall under a constitutional authori authority. >> neil: i'm sorry, for pounding the same point, but i want some clarity here. if it turns out that other information and testimony waiting for dissatisfied with the pace of the pace of the interviews and transcripts, i could understand. if there is something revealed there that shows a link and what would it be impeachable to you? >> again, i don't think that is impeachable conduct under the constitution. i does not commit a high crime or misdemeanor that is very clear in the constitution that it is a impeachable offense. i've read myself the transcript. i don't see anything impeachable in that phone call. if there is other evidence out there than they should release it. this has been years of the
democrats. first it was the russian collusion hoax. then it was obstruction. that did not end up being the case. now it is this whistleblower complaint. they have been trying to impeach the president ever since he took control of congress. >> he has a way of forcing the president out. republicans like a means of the campaign to end. mcmahon tells me that all of this is a fund-raising godsend. so this rally is the pace and the troops, but more than that, can you spell out what you are seeing? >> i can tell you what i saw from our fund-raising. that was when nancy pelosi announced that we were moving forward with this impeachment inquiry in the next seven days paid we raised $7 million. almost a million dollars a day. >> neil: what was it prior? >> a fraction of that. >> neil: he joins as well as republican strategists. add the numbers are out.
>> it is a juggernaut that they are building. the trump are building. they're on their way to raise 1.5 or $1.6 billion, breaking all records. already at records. i think not just the impeachment stuff that is fueling the flames here, but it's also elizabeth warren. the prospect among business people. wall street guys and anyone among corporate america. elizabeth warren is going to up into the economy the way that she says that she wants to do it. >> neil: it is a 1-2 fund-raising punch. what he think of that? >> it looks exactly right. [laughter] the trump campaign are raising lots and lots of money. it is because the democrats really are playing their hand here. impeachment is a nonstarter. i don't think that the democrats believe that they can truly be
to donald trump. they are resorting to this impeachment effort. i don't think that elizabeth warren or joe biden or any of these pretenders really have a chance against the president. if you can't beat him, they are looking to impeach him. >> neil: one of the things, we are going to rifle through. we are focused sometimes a bit too much. depending on who he is up against, he's a losing or losing a lot. and battlegrounds, he does much, much better. and now with joe biden. winning in a lot of cases against elizabeth warren. what are we to make of that? >> those numbers are getting better for the president. the truth is that nobody knows. starting tomorrow with elections, the elections that start tomorrow and go to next week, kentucky, mississippi, louisiana. the president and administration have placed a lot of stock. if the president does a lot, where the democrats are up in
the polls. that is a very good sign. >> neil: by the way, in virginia. a lot of legislative elections there. >> listen. last time -- trump does come to this election with some negatives. he does not match up that grade with joe biden. at the other ones better. the polls are better. the twitter page and people don't like him that much. he does have great likability. >> neil: he had a very clever ad. something to the point, not perfect, but better. compared to all of the other candidates that you might think of me is one thing, but when i'm delivering it enough to -- >> he's going to be able to show that with the money. so much money. >> the other thing is, neil, everyone has to ask themselves, am i better off than i was four years ago? the answers are going to be
resoundingly yes. for as long as that climate exists, for as long as those circumstances, this is a president that is not only going to win back, he's to win bigger. we went i took the wall street angle on that. if wall street were worried that that could all end, no matter what they think of this guy. wall street are green. they love money. they will make a lot of money under this president. bill clinton, the last president to be impeached, they made a lot of money with them. i think it saved the day. >> i don't think anyone should be overconfident. the numbers to remember, the 49 supporting the impeachment requiring. and the democrats that voted for the inquiry. those can include many from the red states -- >> neil: only two of those opted not to. >> i agree with you. here's the thing that trump has going for him. in the last election, how much does a tweet or something trump
says -- how much does that translate into ads? he did not have the money. you're talking millions of dollars every time he opened his mouth. now we will have his mouth, millions, plus $1.5 billion. that's going to be very hard -- for anybody else. >> in 2016, she raises a billion dollars. he does most of it through free media. eddie win there that's big. >> since 2016, the president had 20% of his crowd at his rally the other night. >> neil: i wonder why we bother. >> you are exactly right. do away with them. >> neil: all of those polls, do away with them. don't even bother. eggs are getting taxing for the president when it comes to his tax return. john roberts reporting that they've got to be handed over. could the nation's highest court settled this once and for all? only one thing's
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>> neil: we are a special place. i travel around the world a lot. it's different than a lot of other places. meanwhile, for richard nixon everything turned. he had to turn over his tapes. now the supreme court potentially front and center again as it could have to decide whether this president asked to turn over something else, his
tax returns. if it even gets that far, what do you think, my friend? >> that is the intermediate appeals court upheld the trial judge. the trial judge accepted a complaint from donald trump asking that a subpoena to trump's accountants -- he said no. three judges said no. donald trump indicated that they are going to ask the supreme court for a stated period of stopping of all of this until the court can decide whether or not to hear it. the person who has jurist's stick over applications for new york, justice ruth bader ginsburg. she may say yes, i will stay at, or no, i want to. and enforce the subpoena. what the court ruled today is because the subpoena sees documents of the president's behavior before he was the president, none of the privileges that protect the president applied. since the documents that they
want or not from him, they are from his accountants complying with this planet will not interfere with his performance of his presidential duties. a perfectly rational opinion. we will see if the supreme court agrees or even wants to take it. >> neil: if ruth bader ginsburg says no stay, what does that mean? >> it means that subpoenas will be enforced. we are ready to comply. >> neil: how quick they would they be turned over? >> i would think in a matter of hours. >> neil: the president would have no recourse. this is not a public revelation. i understand. >> this is an examination by investors for the manhattan district attorney. if they find evidence of a criminal act there, it will it to a grand jury. >> neil: from the very beginning, i remember a host of others saying that the real change or it the robert mueller
probe, it's what he was doing in the southern district. is that proving to be the case potentially? >> the court today say it that we do not rule on whether a sitting president can be prosecuted in a state court. we only ruled that he can be investigated in a state court. if i district attorney persuades her grand jury that donald trump come with a private citizen before he was president committed a crime and should be indicted, then we are in virgin territory. >> neil: with the committees investigating him want the same thing? would they be entitled to it? >> a federal court in d.c. has already ruled that they are entitled to his tax returns. maybe if the supreme court wants to hear it, they were here in a port. >> neil: let's say that the
highest court is considering taking this case. if it got that far, the court is taking this case. as much as it took a ruling on nixon and the tapes, how much would it rule? >> it is hard for me to say how they would rule. it's based exclusively on language from the united states versus nixon. that was a criminal case. it was a criminal prosecution by the special counsel. it was not an impeachment. and this is also a criminal prosecution at the very earliest stages. hard to say which way it will go. i think the logic in the decision today -- >> neil: that is a way of not answering my question. >> [laughs] >> neil: it is what makes you brilliant. >> these are rumors. >> neil: yeah, whatever. the president will be soon heading out to the bluegrass state. a lot of grain for a lot of states. he is taking questions, we are told. you know their growth.
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>> neil: today the trifecta at the dow, the nasdaq, all reaching high. whether he survives impeachment or growing confidence that the economy is doing so well, he wouldn't fear impeachment. and cody sanchez, we are set to get that tape in a matter of minutes. very quickly. here point on what the market is telling us right now about impeachment. >> i think the market is telling us that despite all of the news that we are hearing on impeachment, this is a market for the people and by the
people. as a consumer led market which makes sense. consumers drive 70% of our economy. they don't see a recession eminence. they are continuing to focus on the fact that jobs are plentiful. and that even those who are not in supervisory roles are seeing growth in their wages. as the first time he seen that in decades. >> i don't see the markets during any chances with impeachment. it would never happen in the senate. they like what is going on right now. what do you think? >> i think that is absolutely right. markets tell you that impeachment is certainly grabbing a lot of headlines. it's eating up a lot of airtime. investors look at that and think, i don't think that this is a risk that is really going to meaningfully limit a lot of the upside that we see. at the point is perfectly well taken. this is a consumer led economy. the president needs to recognize that he does face some challenges with ceo and cfo
confidence. ceo confidence remains very, very strong. >> neil: what could dissuade investors to that notion? >> i think when it comes to impeachment, we just have to get closer to actually coming to fruition if, in fact, we are going to. we are going to see some market moves of which i have no doubt. in our opinion, that would be up by an opportunity. we would continue to look to the real thing that matters which is not math. what is happening mathematically in the economy? i do get nervous of what's going to happen when we see the other candidates and who comes to the top of that candidate list. >> neil: we have access to them
now. am i correct? he's speaking of the south lawn. >> the people more. it's really great. >> president trump: today come out the stock market hit a new all-time high. all three. we had nasdaq, we had s&p, we had at dow.
we had all-time highs. that's many, many days that we've had all-time highs in the administration. so it is very good. >> was she the target of a smear campaign by your
ally? was yovanovitch the target of a smear campaign? >> president trump: i really don't know her. if you look at the transcripts come out the president of the ukraine was not a fan of hers either. he did not exactly say glowing things. i'm sure that she's a very fine woman. i just don't know much about h her. >> she told lawmakers -- >> president trump: the president of ukraine was not verbally inclined. >> she said that she had concerns about giuliani's role. >> if you want to comment, comment. -- >> president trump: i think that the whistleblower gave a lot of false information. you have to see who the whistleblower is.
once i released a transcript, which was almost immediately, the whistleblower's report was very wrong. because as you know, the whistleblower covered mostly by transcript, my call, my call with the president of the ukraine. once i release that call, i released a very detailed version of that call. all of a sudden, the whistleblower's report was incorrect. and the whistleblower seems to has disappeared. i also wonder what happened to the second whistleblower. and what happened to the informant? they
all disappeared once i released a report. the fact is, nobody thought i was going to release the report. and in addition to the report, the ukrainian president made a very strong statement that there was no pressure. there was no anything. and the foreign minister from the ukraine made an equally strong statement that there was no pressure. look. nobody thought i was going to issue the report. and i hate to do it. i don't like to issue conversations with foreign leaders. it's not fair to them.
but we sought their approval. we got their approval. we issued it, and that is at. >> do you know who the whistleblower is? do you know who the whistleblower is? [inaudible] >> president trump: we are looking into that. we will see. go ahead. [inaudible] >> president trump: we are looking at arms control right now. we are dealing with china. we are dealing with russia. i think they would both like to do it, especially as we are talking about nuclear weapons. but we are looking at a major arms-control kind of an agreement right now with russia and china and maybe somebody else. thank you. i'm going to kentucky. >> era tax returns. your tax returns. [inaudible] >> president trump: watch.
>> release your tax returns.
your tax returns. we went all the right, the president. he will go on a little bit longer. he's heading to this big rally tonight in lexington, kentucky, on behalf of governor bevin. he was saying again and make a note of what we had at the top of the broadcast that all three major market averages, aside everything you hear about impeachment and witnesses that refused to testify, they all had regulars today. the dow, the nasdaq, the s&p 500. that is the backdrop. that is the rally that will matter at his rally tonight. more after this.
>> neil: just because you are doing a great job, it doesn't mean you can't be thrown out of a job. i'm not talking about a guard that is running the country. i'm talking about the guy that was running mcdonald's. numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.
>> neil: and shake up at mcdonald's is shaking the stock up today. ceo steve easterbrook is out after admitting to a consensual relationship with a subordinate. outside headquarters in chicago with the fast-moving developments. great. >> easterbrook is out. we learned that the head of hr is leaving as well. the company would not say whether that is related to easterbrook's departure.
meanwhile, easterbrook is not leaving empty-handed. his severance package includes six months of pay in cash which amounts to $675. it will also be able to cash out on a huge chunk of company stock worth around $37 million according to bloomberg. as part of that severance package, he will not be able to work for competitors for two years. easterbrook acknowledge that he made a mistake in an email to mcdonald's employees. he admits to having a consensual relationship with a fellow employee. mcdonald's would not say which ruled that he broke. employees cannot have a relationship with another employee who reports to them either directly or indirectly. mcdonald's reiterated that this decision was not related to the financial performance of the company. in fact, it has done quite well under easterbrook. the stock doubled while he was the ceo. he started back in 2015. his replacement has already been
named. he was previously in charge of all u.s. operations for mcdonald's. >> neil: thank you very much. essentially it comes down to this. kicked in the bonds even though he sold a record number of bonds and lots of other stuff at mcdonald's. for steve easterbrook, it is over. in the form of mcdonald's, it spelled out in the company is handled. >> any time a severe officer of the company is dating a subordinate has a adverse effect everybody around them. other people in the company say, as that person getting an advantage because of the relationship with the boss or what is going on? it is just and appropriate. in this day and age, it is unthinkable that anybody would do that. everybody gets hurt. the stockholders got hurt today. the employees got hurt. the reputation got hurt. >> neil: this type of policy is listed on most of the
fortune 500 company handbooks. market watcher scott martin. and heather. heather come out this is standard corporate policy. obviously people fall in love in the workplace all the time. but this is in the policy book. it's a big no-no. what you think of it? >> it is in the policy about, and maybe it's be in the policy book for 20 years. if there was a consequence for mr. easterbrook -- if this was consensual, in my opinion, there should also be a consequence for the female employee as well. >> neil: we do not know the full story as they are. scott martin obviously, great success with the company does not really matter. if something like this comes up. his successor is going to implement many of the same things that easterbrook has implemented. it does not change in that regard. would you make of it? >> it might be tough, neil, with
respect with what mr. easterbrook did. it might be hard. eight it was revolutionary. all day breakfast. they have frozen coca-cola adult auto mcdonald's nowadays. one of the best drinks on the planet. he was so good at his job. >> neil: may be in the movement, none of that matters. i would be remiss if the company i'm reporting now. it doesn't matter. this stuff does, right? >> it is fraught with too much political peril. the past couple of years in congress, they have implemented rules barring relationships with subordinates. it does not matter if it is consensual or something that both feel is a positive. if you're doing it, and strong. corporate america, there's so much focus on an advertising perspective and a public perspective on the inter-workings of what corporate executives and their subordinates are doing.
it is too dangerous in a sense for corporations to ignore even when somebody like mr. easterbrook is doing his job so well. >> neil: the argument that you had in the past with politicians who run of this sort of thing. by and large, they can survive it. it's a little harder for those in corporate america. and not all the time. >> i hear you. and corporate culture, things are changing. i am writing a book on the very topic. and it is making it tougher. married couples according to business news daily, 22% of people who are married matt in the workplace. when you spend so much time with people you work with, it is hard. 58% was another statistic saying that there's office where employees have had an office romance in the workplace. how do you nip that in the body? you have a lot of successful
marriages that have resulted from workplace relationships. >> neil: it works both ways. he had to resign in the same type of situation. not here, while taking advantage potentially. of male colleagues. if the #metoo has both sexes -- >> it is consensual. >> that is true, how they. not that i know about these things, but there are a lot of things where you can find people to date or hook up or maybe even mary. to say that this is something that only occurs in the workplace, let's face it. there are people looking to get married to people all the time. you do need to find him sitting across the cube from them. >> neil: maybe you can add some reason to want scott just said. >> it is hard to legislate from where i am. it's hard to legislate human behavior. it's hard to create rules that
are going to police human behavior. you were close to somebody politically and tend to develop bonds and relationships. sometimes these run afoul of the rules. i think in the age of which we are living and working in, people are going to have to make adjustments of which job they hold and how important these relationships are. politicians and rule makers are simply too fearful of the blowback that could happen if they look past something because they think it is innocent enough and it turns out that it was a big problem. >> that is the bottom line. even if it is consensual, you can't date anybody you work with. >> neil: look at the time heather. thank you very much. we will never get to the bottom of this. we will keep repeating this. i see it all the time. good medicare for all kill off liz warren's chances once and for all? to our military service members at home and abroad for all their hard work and sacrifice. we all sleep easier knowing you're out there
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>> any time you are talking about changing 20% of the american economy, which is what health care is and having an entirely new system for everybody, you are talking a lot of assumptions. i don't think that we need to change everything in society in order to drive down the cost of health care for everybody and make sure that every american has a right to affordable health care. >> neil: all right. that was a 2020 democratic candidates saying that elizabeth warren's plan is not workable. telling me that uprooting the health care system is not worth it. campaigning in iowa today trying to convince voters otherwise. >> elizabeth warren is trying to help caucus goers with a $52 trillion question. how do you pay with medicare for all without raising taxes on the
middle class? >> here, it is 100%. it does not raise taxes for anybody but billionaires. billionaires can afford it. that's where it works. not paying a penny more. that's exactly right. >> none of the other democrats in the field are buying that. bernie sanders has been saying for years -- and for months during the cycle that middle-class taxes will go up to pay for medicare for all. and now joe biden's campaign is chiming in as well. raising taxes on the middle-class and ending employer-sponsored insurance even for those who want to keep their coverage make the plan a drag on the middle class and up and down. at the a few minutes ago here in the spencer, iowa, i asked whether or not he thinks the issue that is consuming the entire field and drawing a clear divide among the candidates come up medicare for all is going to
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>> neil: or class, two more. microsoft testing on a four-day workweek getting shocking results. productivity increasing 40%. could this be the life of the future? and frances newton stacy. what do you think? >> i love this. 40% is huge. as investors, we want a 40% return. i think it is a fantastic idea. i'm surprised about the results. if it works, go with it. i think it helps with overwhelmed. i wish i had more time for self-improvement by itself. >> neil: i'm not buying it. microsoft does this experiment in japan for a while. 40% improvement knocking off 20% of your workweek. i don't know. >> i'm guessing when they had five days, they did not have enough work to mark i don't understand it. personally, for some jobs that
might work. and you might have that extra day. but for other jobs like mine, i have to be thinking about the news all the time and what i write about all the time. it is always on my mind. it will never be that for me. >> neil: if you think about it, there has been a push to rethink the traditional 40 hour workweek and others that have experimented with 35 hour work weeks. there's something here that's going on. i don't know where it is going, francis. the experiment worldwide is going on. it's being experimented, they are not firing on all cylinders either. >> i can relate. when i'm not looking at the u.s. stock market, i'm looking at the asian market. my job feels like it is 24/7. i think it's how they spend at the time off. if it increases productivity and efficiency -- if they can improve in some other area and become more creative, and the
ping-pong table if it works, it works. it's hard to imagine. >> neil: the issue becomes, what are you going to do with that free time? >> some people do great. if they to the gym. they lift. they meal prop. those are not things that i've ever done no matter how much free time i have. i usually use it to make my life worse, you might say. working as much as possible is a good thing for me. if you're someone that uses that time to go hiking and climb mountains and whatever you do, then good on you, i guess. not everyone is like that. i'm with you. >> neil: think about what you are saying here. one thing you can immediately say is not the hours you work but what you do with the hours. if this becomes a standard practice, a lot of people will say that i will produce more. >> it's very much along the
lines of the younger generation of what they desire. the younger generation, i have nieces and sisters that are ten years younger than i am. they want to travel. if they value these experiences. we want to work. we are sliding into that. >> you are not even retired. >> i don't ever want to retire. i'm going to be 100 years old. you will have to drag me out of the building. i will never quit. >> neil: thank you both very, very much. kentucky has a big election for governor. yes you stopping by to help tonight. so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar?
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speed of the incumbent republican is neck and neck with the and he said since he is the only incumbent republican on the ballot this time around, the selection is a proxy for all things in national politics. the attorney general, the son of the previous governor steve bashir in the a state trump carried by 30 points, he also says bevin is too nasty to deserve four more years. >> you are the hunter biden of kentucky. >> wow. >> everything you've ever gotten your father handed to you. >> you can insult somebody and asked them to sit at the table and get something done. >> the bashir team has a bus tour going on. turnout is expected to go around 30%. >> neil: a flash of the markets today, the president
will bring that up today. a record for the dow, s&p 500, and record for the nasdaq. that's the backdrop that people felt like the president reminds boats, republicans in power deliver that to you. here comes "the five." >> jesse: i am jesse watters along with emily compagno, juan williams, dana perino, and greg, this is "the five." the battle over impeachment heating up as shifty schiff and house democrats finally release the first transcripts from the closed door investigation. schiff tightness of the narrative saying they are damaging to the president. trump hitting hard against the impeachment bush, going after the whistle-blower. >> i think the whistle-blower gave a lot of false informati