about oppression and the political stepping on toes down there that has been going on for years. charles: that was fox news's bret baier talking about u.s.-cuban relationships and president obama's next move. neil cavuto, your move. neil: thank you, buddy, very much. i want to show you the guy, my money is controlling all the world's money, you might like him, not like him, he is the socialist premiere, prime minister of greece, i'm telling you, alexis tsipras is controlling trillions of dollars in global wealth, it swings north and south on a minute-by-minute basis and this guy's on-again/off-again, for referendum, against the deal with creditors, for the deal with creditors, might be causing whiplash in the markets but that guy is controlling the course of the world's debt talk. add to that illinois, right now working without a budget, and essentially working with a dramatically stripped down

government. you've got chicago also in legal financial limbo land, and then there's puerto rico, staving off peter to pay paul. you add it all up, we get more and more examples of debt that doesn't go away and crises that seem to shift by the time zone. our dow is up north of 104 points, that could change very quickly, and a lot of this built on what's going on with the various debt crises. first and foremost in athens where ashley webster is standing by with the very, very latest. ashley? >> reporter: yeah. hi, neil. what a day. headlines, the markets up and down moving with the headlines. in the end, the greek prime minister alexis tsipras saking a very defiant stand and says no, i'm not going to be put to the test. do not put me under this kind of pressure, i'm going ahead with the referendum, i'm going to say to you, the greek people, should vote no. interesting.

the latest poll, neil, show the no vote has a lead of 57% to 39%. we're going to hear a lot more of the poll numbers as the days go by before july 5th. they are expected to narrow a little bit and could be very close at the end. a couple of issues could help swing the vote one way or the other. firstly, whether people really understand what the question is, how is it being interpreted? is it about a vote for economic reforms or is it a bigger vote about the future of the euro and greece's place in it. and also, who gets the blame for the capital controls? will it be the greek government or the european union? those are the kind of issues that could swing the vote either way, but very interesting, indeed, to follow the progress all day long. the germans from the beginning said we're not going to negotiate until you've had the referendum. there was a sense that maybe the referendum would be postponed, and as we know with the greek story, so many twists

and turns, neil, and still it's only wednesday after all. could be many more to go. neil: incredible, ashley, thank you very much, ashley webster in athens. all over the map here, the markets and the futures were up early this morning, about 200 points on hope that the greek tragedy would be put to rest. but as we've been telling you here easier said than done, and what other deal is cobbled together in greece, the betting is it will be a short-term deal, and really won't get the basic problems and the issues addressed. we're living in a world, my friends, where we have bills we cannot pay. the simple truth of it. and puerto rico is a good example of that. that nation's governor, commonwealth's governor, had the opportunity to say that a couple of days ago. bills we cannot pay, as lizzie mcdonald reports it's $72 billion worth, that's scary. >> reporter: that's right, neil, news breaking within the past hour or so.

what the fear in puerto rico was the first default would have come from power authority. that is the big electric company down there in puerto rico, but the power company there, they have made their debt payment. overall we're seeing 645 million bucks in a loan and separate from that, the 415 million dollars in the power electric authority bond payment came in today. that is good news coming out of puerto rico. good news for the muni bond investors in the united states. muni bond investors own about 60% of puerto rico's debt. oppenheimer funds, franklin templeton, american century, etfs are exposed to puerto rican debt. we're talking millions of dollars, neil. you're right. 72 billion bucks, a lot of debt is owned by muni bond investors here in the united states. but we got a positive sign out of bank of america's top

economists ethan harris, saying puerto rico is not a systemic or a bellwether event for muni bond investors. we'll watch this for you, neil. put it in perspective. $72 billion, it's 100 billion with the health care benefits sale. it's about the size of general mills stock market corporation. neil: we're getting closer and closer to home. started with greece, moved to puerto rico and the u.s. of a. now in chicago, the state of illinois, both in a heap of financial trouble. fiscal year just starting and illinois is without a budget. technically without a formal working regularly ordering government. you know, some emergency funding obviously continuing. chicago is part of that as well. jeff flock on both, jeff? >> reporter: i'll take your 72 billion in puerto rico and raise you another 100 billion to make it 172 billion which is what illinois is in debt.

i want to show you the numbers in a second. first to the governor, you said absolutely right, we have run out of money. today is the first day of the new fiscal year. governor bruce rauner says we're done, we're not going to run up any more debt. i'm going to make the buck stop right here. and so it's possible, the government will shut down, we know how that looks on a national level sometimes. it's not pretty. that's what's headed here, and why? take a look at snapshot of illinois where, we stand. the lowest credit rating in the nation. it has the highest amount of funding for -- the lowest amount of funding for public pensions of any state in the nation. and chicago junk bonds are now junk, so are illinois bonds by the way. yesterday chicago made a payment into the local chicago teachers pension fund which it had to make by law, but they had to borrow money to do that. i want to give you the numbers, i'll leave you with the

numbers, neil. 72 billion sounds like a lot in puerto rico. pensions in illinois, 111 billion in the hole. health care 56 billion in the hole, and unpaid bills another 5 billion. debt is swallowing things up everywhere we look. illinois may be the flash point. neil: buddy, you've been great on this. appreciate it. jeff flock. i don't care whether you are right or left on the issue, it's not a conservative or liberal issue. debt has been piling on congress that has largely ignored it. white house, various parties ignored it. are unfunded liabilitiesa the local, the city, the state level, the municipality level. fox has been on the years for almost 20 years now, it sounds like it's getting old. not me, i refuse to get old. point is this, it's money in, money out. we've got a lot more obligations going out than money coming in. and a lot of governments have to wrestle with that on all

levels and what they do is raise taxes, cut spending, cut benefits, try to do both. that's going in greeting. lauren simonetti looking on the u.s. debt pile-on. it's much bigger than we think. >> much bigger than we think. the numbers i'm about to give you make the numbers that emac and jeff flock give you ridiculous. it breaks down to $18 trillion total. 18 trillion and growing. per year, that's $855 billion. more than $2 billion a day. $98 million an hour, and $27,000 per second. pretty unbelievable numbers. and i've been going through a bunch of reports and it's amazing, if you look at greece 25 years ago, they had the same debt to gdp ratio that we have in the u.s. right now. 74%. there's a fear that the next decade, two decades, three decades from now, we could be greece with a debt to gdp level

topping 100%. neil: incredible. lauren, thank you very much. just to put this in perspective, you think, neil, you're such a numbers nerd, yes, i am, that didn't make me popular in school, but i was kind of smart. money in, money out, we are reaching a breaking point. remember when i had paul volcker here, the former federal reserve chairman who said the states' unfunded liabilities, despite the fact most of them have the balanced budget they have to do every year, they're playing fast and loose with the facts. chris christie in new jersey, a lot of other governors are playing fast and loose with the wink and nod promises that show a balanced budget but aren't. you add them, you're talking another 30, $30 trillion today. now we're up to $50 trillion. you could see where this goes. there's no endgame here. so the liabilities continue to pile up. and these which we pay for them

continue to winnow down. what happens? it's like the musical chair thing. eventually it stops and eventually everything hits the fan. that's like waiting for a financial goudeau and time is running short. john layfield, scott martin on the world spending object ha. john, that is the big problem right now, people do not appreciate, or maybe some of them do, the gravity of the situation that we've made promises we can't keep. look at greece. we've made wink and nod commitments to pensioners that we can't possibly realize, and on we go, what do you think? >> i think you're exactly right. it doesn't happen very often and takes a lot longer to happen. look at greece, people are saying greece is going to happen for five years, and finally starting to happen. same with puerto rico, they sold the $72 billion in bonds and people were buying the bonds, knowing that puerto rico didn't have the ability to pay those back, or they should have known. that have you events like this

that are so rare to happen, when they finally start happening, it can be a domino effect, it is surprising to people because politicians love to be chicken little, the other party, whoever is out of power, and say we got to put this in control, put us in power. people get tired of hearing it until the event happens. neil: scott, in the case of greece in particular right now, we are still up, our stock market is up on the belief that this will pass. eventually tsipras the socialist prime minister will come to his senses, on or the will of the people in the referendum that will forcibly make the issue and the painful cuts necessary, but they might be, you know, getting a little ahead of themselves here. there is precedent for countries going broke. i'm thinking of argentina. >> argentina. neil: plenty of examples of that, you know? >> it wasn't pretty, neil. the old saying fool me twice, fool me once, i don't know, greece is fooling us for the

sixth or seventh time here. the people of greece have been misled. they kicked out the syriza party, they put in tsipras with the agreement with europe, he has gone backwards. but the politicians are just out for thechlts they won't make concessions. we haven't had a deal here in illinois about the pensions for years now. thankfully the lights are still issue onning the street lights are working, how long is this going to go on to where the government doesn't serve people and has to pay the piper for the misdeeds they do and the government for running up the debt. neil: thank you very much, we will be going back to this just throughout the next two hours. i want to bring to you this realization. people say greece, what does it mean to me? look at the european union as a club, elite club, they cobble together the countries of disparate backgrounds and the clubs that includes the likes of france and italy and greece,

you know the only qualifying member is germany, germany is the only one that meets all the qualifications to be in the club. that would be like you trying to join a golf club, and you don't play golf, you can't afford the dues but want to be in the club because it's cool, and the club owner said you want to be in the club because we're cool but you can't pay the dues, you can't play golf, and the owners are saying, we don't want you to go, you start going, we don't have much of a club. do you want to be in that club? is that a club worth being in? probably not. the real saga with greece and the economist who says about greece let it go. ♪ let it go ♪ let it go

. neil: all right, back to greece here, you know, can it get much worse for the greeks? think about wanting to stay in the european club, is it really worth it? in other words, could things get so bad that they think twice about leaving? well, for a lot of greeks it's already bad, and can't imagine it getting worse, that's up to debate. but the former cypress central bank governor says, you know, greece success irresponsible, and maybe the better part would be for greece to get out of a club it had no business being in, in the first place. he joins us via skype. so you're saying not so much for the greeks but for those europeans trying to keep the greeks in the fold, it isn't worth it, right? >> well, first of all, thanks for having me on the show.

it's an incredibly difficult situation, i'm going to take issue with some of the characterizations you had earlier. it's a good idea to look at the europo as a club, you are right about that. but you are not right that germany is the only qualified member ever the club, and germany is actually behaving responsibly whereas greece isn't. if you go back five years ago when the crisis started, german banks were in dire trouble. the big reason why greece is in trouble right now is because germany five years ago engineered a so-called bailout for greece, that was really a bailout for german banks. this is how greece ended up having the debt they have right now, and they're in this mess. so it's a club where what you have is members getting at each others' throats, and on this occasion, the germans have

played the very nasty game much better than the greeks. neil: i was only basing it, i'm sure you are aware on debt to gdp, all the rates control the central banks in each country. that sort of thing. having said, that if the germans are being scoundrels in this, i get the impression that the germans are tight fisted. more indications out of the foreign minister there, angela merkel playing the equivalent of the bad cop. the french more like the good cop trying to go back and forth and work with greece. what happens to greece if it just falls out of the european union altogether. then what? >> yeah, right now, let me tell you there are no good outcomes for greece. unfortunately, i will agree with what you are saying before with how irresponsible the current greek government is. this guy took office six months ago and created an absolute mess out of the situation, so all of the outcomes for greece

are terrible. neil: when you say terrible, sir, and i know we have a site delay, i apologize for jumping on you, there. when you say terrible, are you saying things will get worse? >> yes. neil: we're talking about extremes, bread lines where people go hungry. >> i'm very worried about it. so let's take the scenario where the current government stays in power, and they try to take the country out of the euro. their bank system is bankrupt. the economy is not functioning, and the government is overspending. they're spending much more money than they have. what you have is an environment where the government will start printing its own money, high inflation. the public will be misery because their savings are gone from the banking system and the economy has collapsed and they cannot do anything. that's going to be a real disaster scenario for greece. my concern is that greece may turn into country who have

experienced disaster scenario, one that comes to find is venezuela. can you imagine greece becoming the next venezuela in europe, that's the scenario we're talking about. neil: fairly recent history. thank you mr. orphanidis, we appreciate it. if you take a former central bankers word for, it and he's a smart guy, things could get much worse. nevertheless, economist peter macy says it is time to let greece go. >> greece couldn't pay debts in 2010 after the germans engineered the bailout, he is correct. greece is saddled with so much debt, it is impossible. five years of austerity have done no good. 135% of gdp to 180. and angela merkel and christine lagarde want the same thing. neil: that means debts dwarf

whatever assets it has? >> yes, excuse me, debt to gdp is 180%. i know of no country able to dig itself out of such a hole. it is time to forgive greece's debt. now the germans are absolutely adamantly opposed, ever since tsipras came to power and began negotiations, there was a sentiment to do a workout and angela merkel said no. neil: they hate this guy, right? they think he's a socialist, they think has a kook, he doesn't wear a tie. they are trying to force the situation on him, get him out of there. get a pragmatic guy in and deal with this, we don't want to do anything that helps this lunatic out? >> the germans have been running the numbers and come to the conclusion it would be better for greece to leave. even if it means defaulting on some or all of its debt than the cost of keeping this going. they're starting to recognize themselves but refuse to admit it. the bailout, and the austerity

supposed to create growth and prosperity is take everything the other way. so the greeks take a big hit. adopt their own currency, period of adjustment, i don't agree with the minister from cypress, i think it's possible to do these things. central bankers think of the world through the rearview mirror. neil: maybe in esoteric terms, i think that's a greek word, too. it was a bad idea to begin with, taking nothing against the goal here, the ball of and economy, harder to go to war with each other. that was the key underpinning of this. the key version is the united states is we are a united states of america. we have a federal government. it didn't jibe on paper as well in europe. >> no, it doesn't. the europeans don't have a common language, they don't have a unified labor market. they don't have a unified social welfare system.

the europeans had a perfectly good and well-functioning economic community before the euro. the euro tries to force too many nations into a single monetary and fiscal policy that doesn't work. the reality is not greece needs to be rid of euro is half of europe needs to be rid of the euro. look how slowly and lethargic and arthritic european growth is. neil: good points as you usually make them. peter, all right. and another point i could have said about this from the very beginning, you can't unite countries where the driving standards are different. germany, terrific drivers, others awful drivers, this is why they're driving off the fiscal cliff. more after this.

. >> he's at one and i'm the two, and a lot of people are very par behind. neil: well, you know, he's right about that. say what you will donald trump

and separate the messenger from his message. i told you from the beginning when he entered the race, he is resonating in the polls, a lot of people when it comes to what he said on china, shafted on trade and how we're taken advantage of, all the stuff you know quite well from donald trump. it's resonating, nontraditional candidates are resonating. i want you to take a look at an iowa poll. ignore the fact that scott walker is in the lead. touche to him, his share of the vote has gone down in every single poll we made. focus on donald trump and ben carson. two guys with no elective office experience, they close to a fourth of that vote. those two alone. close to a quarter of that vote from nontraditional candidates, things can change, but that tells you all you need to know about the sentiment of voters is at this time. still early, vince, to your point. what do you make of that? >> we're to make that voters

appreciate candor. they don't like political correctness and all of the other guys who are practiced politicians have many years of experience shaping answers, coming up with new ones, trying to figure out a way not to tick off people all at the same time. ben carson makes presidential debut splashing president obama to his face about obamacare and donald trump the most politically incredible guy in the race, and they're saying pretty politically incorrect things, that's refreshing, a guy not willing to hide his opinion in order to satisfy anybody. neil: the argument against both of these gentlemen making it, and they are very, very different, people play around with the thought, that's kind of cool or this guy's kind of cool or go outside the political petri dish, but either something implodes or the candidate implodes or they get second thoughts or go back to comfortable date, and i'm

wondering if that's what happened to herman cain in the past. that's what happened to ross perot. you know, outside the box candidates who ended up getting kicked outside the box, what do you think? >> right, the assets of being a candidate who's plain spoken is the liability. donald trump's path of supporting democrats widely or future of saying something that ticks off the republicans he's actually going after, it's probably going to be his downfall, willingness to be so brash and a loud mouth, that will come back to by the him some point. if this is publicity stunt as is rumored. neil: i don't buy, it i've covered this guy for decades, yes, he's a great marketer and all that stuff, he's risking great financial pain to himself, macy's to say the latest, you're out of here, you're fired. >> nbc. neil: right.

these are great revenue makers for donald trump. but i will say, this even in light of the macy's firing, his poll numbers are better, attraction getting better. i think it's when people jive fox on the comedy show like jon stewart, should i check those guys out, or should check them out. >> what could be better for donald trump than nbc deciding it doesn't want a relationship with him because of his politics. among the primary voters, they're like i don't like nbc politics. neil: i didn't think of that. good thing. hope you have a happy and safe 4th. >> nice to see you, thank you. neil: word that iran has continued to comply on terms interim nuclear deal reached with world powers. this is the reason they're justifying extending the deal that's been given a few more days to cut together here. the growing indication seems to be after all the ranting and raving and the mullahs saying we're not going to let you

inspect or cooler heads prevail, it's all for show. the headline on this seems to be from no less than secretary of state kerry, we are making progress. we shall see. ♪ ♪ (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck? check your broker with brokercheck. usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price.

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. >> in the world stage, i think

they've been minimal. i think he's done some good things domestically, like the health programs and so forth. but on the world stage, just to be objective about it as i can, i can't think of many nations in the world where we have a better relationship now than we did when he took over. neil: wow. wow. that's jimmy carter saying you failed. not quite. but you get my gist here, a big backer and believer in barack obama when he was running for president said to open up a new era that would be a positive one for the world, saying on the world stage, no, things haven't changed much. mort zuckerman on that. it wasn't too long ago, that the president was saying under his stewardship, the united states regained prestige, and respect around the world and jimmy carter is saying no. >> well, i have to say on this particular issue, the facts are

with jimmy carter, not with president obama. we have lost a huge amount of support among our allies in europe just as a start. almost every one of them is appalled what we are doing or not doing vis-a-vis the develop of nuclear weapons with iran. they all come out in a different place. never mind in the middle east, we've lost the support of saudi arabia, egypt, jordan, all of our allies in the region, never mind israel, of course, which is put into the cross fire or crosshairs of iran who's going to have nuclear weapons. neil: we're apparently getting closer to a deal. >> that is a deal all right. it's a bad deal as far as i'm concerned. neil: and you donald trump are on the same page. >> we're not on the same page. if you saw the pages of the daily news, you would realize. neil: i watch that, and i wonder, you do get phone calls do you? >> they're all collect calls. [ laughter ] >> one thing i can't fathom

here, and maybe it's just something i'm missing, when the president normalized relations with cuba and says it's time to move o, et cetera. how do you feel things change as a result because this is part of this new globalization, the president has talked about, and stuff that jimmy carter once did as well, now i guess some of the other issues he parts company with the president. what do you make of that? >> look, i have no problem improving relationships with cuba. cuba is not an existential threat to the united states, nor to our major interests in the world. neil: yeah, the republicans are very against this. >> i understand everybody has their own schiffalous. when you talk about a country that's about to be a nuclear power that threatens allies in the region, that outraged allies in europe and one of the most radical muslim country, and you are sort of easing their way to developing nuclear

weapons, that makes absolutely no sense. neil: this stance about iran and the suspicions to do twist on "frozen," maybe you've got to let it go. isn't that the idea? if we never talk to iran, never engage them, we will never improve this? >> i have no problem with engaging in iran. the question is what terms do you agree? if you're talking about a country you're going to now in effect endorse their nuclear weapons and emerging as a nuclear power, and giving them all sorts of benefits in the way of, we had sanctions, which is a thing that made them come to the negotiating table, and we basically are walking away from the sanctions which is one point of leverage we had on iran. neil: do you know when we sign a deal do all the sanctions go away? is that the $60 billion bonus they talk about, the listed sanctions. >> yes, they're going to go away. neil: that's what the iranians are hot on. other stuff not so much. the sanctions go. >> we don't have the right

techniques and technology whether or not they stay with the agreements they makers whatever the agreements may be. what you're talking about is, it's the soviet union, we had to deal with the soviet union, we didn't want to go to war with them, they became a major worldwide counter to the united states and our basic, say, opponent. we try to deal with them on a realistic basis. now the soviet union is in a different place, but iran, iran is going to destroy our whole national interest in the middle east. never mind what it's going to do to one of our allies. just in terms of all of the countries we depend upon, they're uproared, outraged what the administration is doing. this makes no sense to me. neil: all on the same page now as jimmy carter. >> they are, they are, and a lot of people are too. neil: good seeing you, my friend. thank you very much. just when we feel good about how things are pick up, we talk to the guy behind

case-shiller and give us a major, major depressive headache. what he said about the run-up you're seeing now he argues simply ain't going to last. after this. a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene, available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too. remember, while your medication is doing you good, a dry mouth isn't. biotene, for people who suffer from a dry mouth. i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business...

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. >> people are not -- except in certain places, like san francisco. overall they're not really excited. maybe it's good reason not to be excited about prospects in the housing market. neil: those are big words from a guy whose like gospel on housing. when i started my career three or four decades ago, it used to be home sales. home sales then they went to existing home sales and started bifurcating with new home sales, mortgage applications, permits, all of that. we get seven or eight different housing stats. the most scrutinized is the case-shiller index which keeps track of home prices around the region. when the author starts saying

we have uptick but doesn't think it's going to last and doesn't think it's noteworthy and doesn't think this is the beginning of a housing boom, take note. david licken is excited about it. tim rude not so much. david, what do you make of what, of what shiller is saying here? don't get ahead of yourself. >> well, i think the number one thing is he makes good points. he's got a lot of data points. he has so much history, historical data. here's what's interesting, the market is not going to be exciting, i have not been excited the fact we have double digit price appreciation, that causes a lot of discouragement. the fact we're in the 4 hs range, if we get to the normal 3, 4% range, that is exciting, it is sustainable housing cycle. neil: no, no, it makes good sense, if you fear it's getting out of range for you or too frothy for you, or you can't leap on this, i see where

you're coming, tim, what do you think of that? >> hi, neil. i wouldn't working about robert shiller working suicide hot lines. neil: can you imagine that? i would finish this off if i were you. >> what i'm saying is it's uninspiring the next few years, that's not necessarily a bad thing. to david's point, you don't want 10% appreciation rates. we came out so hot. neil: i tell you why, as wacky as it sounds, we were so badly beaten down and so many properties yet to recoup their value from the last housing uptick, we would have to add to that for a number of years to get close to parity. what do you think? >> you are right. 10% off the bottom -- or 10% from the highs that we experienced two. things going on. one, there's no supply because of the 15 million properties underwater or have a little equity, but mostly in the 200,000 and below. those are the starter homes.

the good news is, the demand side, the millennials that have crawled their way out of parents' basements and are renting, they're not ready to buy. it's a good time to have the status, the 2% appreciation rate. when they come out two years from now and have robust jobs and have credit history, you're likely to see the demand come back. neil: david, there is the notion interest rates start moving up, home prices continue moving up, fence sitters get off the sense, that is bullish underpinning in the housing market. do you buy that? >> it's how quickly rates rise, neil, that are a key factor. he mentioned in his segment with you yesterday that there's a psychological factor. the psychological factor works to our advantage with a slight increase of interest rates. i think the feds keep this very much in mind. there's nothing the feds want to do to disturb the housing market and you put a bullet through the housing market and we're going to see housing

market hurt if we see two interest rate increases this year, that's why i say there is more rhetoric about that, and less action. we may see one, and i think there's increasing number of credible people saying we may not see that in spite of what the feds say. the psychological factor will weigh into this, if rates spike up, it's going to work negative psychological factor. neil: real quickly, tim, greece has taken a rate hike off the table, what do you think? >> for sure. as david mentioned. we learned about d.c., they don't have the stomach for mass defaults. there is only three ways out of the credit bubble. grow your way out. you can inflate your way out, which we are comfortable with or default. we demonstrated that is not going to happen. housing is 20% of the economy, i wouldn't expect policymakers to change their tune. they'll do anything to bail out the market. neil: thank you very much. go ahead and finish that point.

>> i was going to say, the default ratio, the sears defaults are the lowest since 2008. good news on the serious delinquency front. that's an added benefit to what's going on in housing. neil: good points all. thank you. you probably heard that jeb bush just released 33 years of tax returns. i've gone through each and every one. i can tell you this, his average tax rate -- i didn't go through each and every one. average tax rate is 36%. next time you hear the gazillionaires don't pay close to the top rate, he did. that either makes him a very good patriot or rich guys saw, you gavon, really? you are paying the top rate and you want to be president? cuts both ways, right? after this. you're driving along,

having a perfectly nice day,

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. neil: all right, take a look at this. crude oil off two bucks a barrel. the iaea -- whatever they call it, eieio. i'm sorry. the acronyms drive me nuts. >> eieio? neil: whatever, they keep track of the oil inventory. price comes down, you know the drill, less drilling going on, here's what i can tell you. they're also optimistic, we score an iran deal, a couple of million barrels more in the market. the guys have been wrong more often than i have been successful in diets. nevertheless, that's what they go on. to the aforementioned and one of my best buddies here, he's one of the best in the business, charlie gasparino, and we have jeb bush releasing 33 years, 33 years of tax returns. >> kind of like information overload. neil: my gosh. what do you make of what you've seen? >> couple things, he made more

money from wall street, lehman and barclays than any other single source of income. >> is that right? >> as an adviser? >> as an adviser, yet, it was barely mentioned in the report. if you read the introduction, one mention of barclays, he doesn't mention lehman. that was main source of lehman. neil: barclays took over. >> remember the one bank that went under, and barclays bought it out of bankruptcy. based on my reading, that was largest source of income since 2007. 14 million of the roughly 29 million he earned. neil: how many years was he with them? >> seven years, right? that's a lot of money. it's great he paid very high taxes. i think 2013 where he made the most money, $7 million. i believe he paid 40% tax rate. that's really good, considering how democrats went after mitt romney. neil: rich guys could say, my man, you have to get yourself a better accountant. >> or say he didn't want to be

greedy. he made enough money, he's a decent guy. jeb bush by all accounts is an honest, decent guy, he's going to have to answer for lehman and barclays. neil: why? >> first off, when you work for a wall street firm, as hillary clinton does stuff for wall street, people want to know what it is. these are firms that carry a lot of influence in washington. they destroyed the financial system in 2007. the firm he was part of was a big part of that. neil: here's the antithesis, i don't think it was a big deal for hillary clinton, despite she's arguing against them now. >> you're in the minority. neil: trailblazer. >> you're a trailblazer, but people care about how big companies influence. neil: was he supposed to be prescient to know that lehman would go under? . >> no, i'm not saying that. i'm saying we should know what he did there. he goes around for barclays and

lehman, meets client, gets them business, one of the meetings, one of the clients, a guy named andy redleaf runs whitebox partners in minnesota attacked him, started to criticize him because he didn't like his brother's presidency, he was pitching business for barclays. he tried to convince carlos slim, the mexican magnate billionaire, maybe the richest man in the world to help bail out lehman in 2008. these are things i think he should talk about. neil: he will, he will. you are still whining about it. >> it's like information overload. neil: i take back all the compliments. >> information overload. neil: you're on information overload. you didn't read it, i did. neil: yeah, i did, i read the headlines. >> you see how much money he lost in lehman stock? neil: what happened to the triple digit advance. charlie speaks, we lose it. that's what we need to know.

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>> all right, the air group is indicating that it is not going to do anything. anything at all until greece goes ahead of vote sunday on this referendum to swallow cuts that the european lenders have recommended here. this has been a touch and go situation with the greek prime minister first said we won't have the referendum but we'll have the referendum looks like he was closing a deal not close to a bill. on steroids. bottom line, europeans seem to be waiting on this referendum so nothing happens until at least next monday. on how markets everywhere responded. >> well greece defaults, the prime minister keeps job bounding no resolution in fight. grouse's future and apparel and markets are stable. the patience is gone, right trugs is gone but you have gains in european markets across the board up more than 2% in germany, here in the u.s., you see the exact same kind of story. you can take a look to get all

three major market gauges at moment but well off their highs looking at triple digit gains. not long ago and a the dow like take a quick look at your dow charts, because you can see where you see this dive, well, high of the day when alexis, prime minister of started talking if that is any impact also your financial is up today. goldman sachs morgan stanley, jeanine pirro morgan all raining but remember the sell you have on monday. so world didn't come to an end after a greek debt default and also maybe some resolution on horizon there. tenure treasury there and selling and no rush to safety. yield is up 6 basis points today. i have another theory about what is happening we have a jobs report out tomorrow. you have a federal reserve because of what is beginning on in greece could be on sidelines for longer than people expected so that is a perfect world for stocks, and economy here that keeps on growing, and a federal

reserve, that don't do anything. neil. >> interesting because of greece it just holds tight very, very interesting. now i want to go to ashley webster modest guy and you know because of a news guy flip around, follow on the jet of athens going to embarrass ashley to no end. you know why he gets the story on this? he doesn't inflate things. he doesn't start going nuts. he's very calm this is why people talk to him and don't throw things at him. because he's calmly telling the story of what is going on in athens second to none over there. so ashley, i hope you never get criticized my scottish accent, but -- [laughter] i will say young man, oustanding job, and i did want to your reaction to what the greeks are telling you about the mess they're in or whether they're just calmly as you've been reporting going through this hour by hour, day by day, what?

>> they -- neil they're numbed to all of this. they're worried don't get me wrong but there hasn't been any panic in the streets no masked rioting knock like that we've seen so far. oddly at the banks but they are concerned they're angry,ing angy with government and rest of europe they know it sold and back on track what doesn't seem it is beginning to happen at least not in the near future. we're literally across the street from the greek parliament building, the famous building that everybody should recognize by now. a short time ago we had -- a very small rally of the party who showed up unannounced walked down the street 150 of them. riot police responded to couple of bus loads jumped out and they stared at each other 5 minutes and then fizzled out. one of the organizers of that rally said to me that -- well, we're kind of a new group, and because we don't believe in the government, we probably shouldn't vote. we decided to go to vote with

the no side which is all sounds luke a sketch to be honest with you, neil but that probably lasted 15 minutes total as number 23 bus arrives behind me. life does go on as normal by the way in athens but certainly now that talk is about the vote. and i think we expect a lot of rallies in front of this government building both for european austerity and against. right now poll shows that no vote would win 59 to 39%. i suspect it is going to be a heck of a lot closer than that with the betting money. betting money is so the yes vote will win. we have to wait to see. >> ashley another edge he gives us python reference no other debt mark is used -- [laughter] thank you my friend. ashley turning now question of leslie mcdonald only the pilot going on here. now, you kind of touched on it.

this idea in and of it. greece is just part of it. i mean, it is a beg headline making part of it. but it is common. >> common around the world striking irony you know, people will say it should not be putting teachers and cops against creditors but continue to pay teasers and cops. well guess what teachers and cop retirees are retiree teachers cops via pension pungdz in the global crisis so this is a wakeup call around the world as you know, when we see the community saying debt is a really risky thing watch out banks, you have to really assess for it. and we see here in the united states, still percentage of gdp our debt has gone up. people are talking about i want to bring it back to the clinton era of 20%. around 24% that is not unreasonable. after five, six years of government spepgding neil we have a labor force participation rate that is lower than in 2008, so that -- that is all on top of what we're

going to see in the jobs report tomorrow whether we have more of the same. j i think a lot of people who were pointing fingers at greece and saying, you know, horrible at looking at your budget and what have you, they're in bad shape too. they have a little bit more leeway and respective countries, but it is wrong people finger pointing to me. >> spacial if you look greece is actually cut the equivalent of 16% of their economy. for gdp on fiscal side. they've made potential cuts over past few years. >> reporting. ampght good question they've been poor at selling their story and this is tendency to play in debt private public and not be between governments but greeks have done a lot. >> the lenders ones with the control of the first strings, they still demand the same confessions. >> there's no character. well that is right. >> because when they credited

understandably don't want to have debt write down. before you resolve any debt crisis you have to have a private debt, market haircut. forgive debt. >> that is good when we have honest enough to say you know, you have to recognize, have loss recognition, and actually probably save the u.s. financial sector as a result. >> you know what they fear about that, and i'm sure he's right, this notion that you start forgiving debt in one place, you really have to forgive it in lots of places. >> that is why spanish and portuguese is most hard lined about not letting in greeks -- >> right. >> l yeah. >> but in terms of fixing the debt problem, our politicians are just as bad in many ways. because you can point to puerto rico. puerto rico is a nation where she mentioned the flavor, labor force petition pace in this country what is it about 63%.

overall, it is 40% in puerto rico. 40%! you have a 50% higher number of people working age population on disability in that country. it is who is legending money to this nation? you know who is mutual fund investors they own -- and might not know but somebody wake up and know. i will point fingers. i will point fingers at governor mike huckabee who said and talks about social security. you can't touch those social security for people -- who are receiving it. because they have paid in an they deserve to get paid out what they've paid in. you know what they're taking more than they paid in. it is time for a wakeup call and nobody will do anything about the u.s. until we are flat on our backs. >> our congress man can retire at age a 50 after a five years with full pensions, right? >> they can. and we see that in newport beach it got life guards retiring with 90% of their pay. [laughter] >> i do want to just add this

next to the mix guys in the control room can do that, by puerto rico governor, i don't know what you're doing there but you've managed to stable up the crisis here and help with it. but you've heard what we were discussing here that puerto rico is part of a global problem here. and they thought they might be able to -- prevent a utility from going belly up or what have you. but only a matter of time. what do you say to people who are cynical about this? >> well, about it is not ewe, perhaps the problem in puerto rico is a little more quantitatively series but it is not fundamentally different that caused new york to go close to bankruptcy in 1975 a. now, not different from what is happening in illinois or new jersey. where politicians of both parties have the years borrowed money or sold assets to cover up

deficits that by deaf -- definition is not a sustainable course. >> do we go to that point and let them go or not help them out if they were up against the wall? >> puerto rico is a territory, people there are u.s. citizens. they are not currently entitled to use the protection of firing under the bankruptcy law its ass city of detroit or many cities in california or many cities to come to adjust the enormous, compelling, conflicting needs of one paying your debt, two meeting your promises to your employees, three maintaining a acceptable level of government services. so puerto rico is simply reaching the point where it has to restructure its debt and it has a chance to regrow its economy. >> easier said than done. marshall you know you can sell this for everybody is growth.

growth -- 3, 4%, something. >> solve a lot with that. >> you can solve a lot, and the shirts approach advocated by ims won't work. even if greeks vote yes would be a mistake but if they vote yes they have the same -- >> that would be a mistake? signing it for the more of the same? >> five more years of depression and e eliminate if they increase taxes. >> countinger to that to throw themselves into depression. >> i have news here that they have 60% unemployment, 25% of the economy is not working. but other point i wanted to make it to dick's point illinois, california, uses was currency sz is greece and fundamental decision to use currency if you use currency and also public an private. the problem in the u.s. for example, is not really one of profit -- that was a private bid which started interestingly enough in clinton years we got rid of

budget deficits and question of a private debt. >> but we have altitudes look at the news ouch in state of illinois. we're going to cut to state workers pay. but guess what state legislators will keep their full pay. so this is -- >> starting it. they don't have a budget technically they have a truncated government. >> so question of that for a reason and accountability in government. >> in terms of the u.s.'s ability to print money. which makes us different than the states municipality. people in this country look to japan an say we're 100% of that gdp japan is 150%. we have a long way to go. that is the attitude. >> that is scary. >> thank you. >> here, but it is still like how much of a debt burden can we shoulder? >> waiting for economic disaster to default japan. it hasn't happened yet i'm not sure they have to worry about

that. >> as long as you live at home and only buy nice handbag right that is nature of that. >> my daughter into this? [laughter] >> i'm kidding honey if you're watching. about me and my family. >> ashley has better hair -- >> he does indeed. >> you know from the bronx everybody thought he was british when we come back here if you feel tempted to drive yourself off a cliff. i have bad news for you it is beginning to cost you more because gas taxes they're going up. in your state, after this. you total your brand new car.

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dow up above 88 point but in six states gas taxes are going up in georgia, maryland, rhode island, nebraska, vermont, illinois biggest increase of them all. that state is looking at -- actually it is idaho i got it wrong 7% increase there per gallon all of this is to deal with cost of infrastructure, roads bring bridges, you know, score there. joins us julie. as our slight leading left guest here. you welcome us. >> i don't welcome the transportation trust fund going broke here in state of new jersey. you have bridges shut down because their transportation trust fund is broken. : governor shuts them down. >> when he want it is them and george washington bridge that is interstate bridge that is different. minor breakups. >> very bad joke. >> humor i appreciate that. >> but -- we have bridges shut down in minnesota we have a bridge collapse. because there's literally no money, feds aren't giving how do

you raise money for infrastructure? >> let's raise the point here. we have to raise gas tax that cost $50 billion a year. to pox this stuff i don't know who came up with that number. and getting 34 million off the tobacco tax. i understand that and i also understand what happened. and other fees, and state budget and exide taxes tucked into that supposed to go toward that. where is accounting on that? >> in some cases in maryland governor a knownsed they're lowering tolls good for taxpayers they're going to get tax hike but a little bit of a break during summer vacation which they need. one thing about the federal money, what was all of that surplus money supposed to go to. about are obama said we have to have this took almost a trillion dollars and we have to spend that supposed spob mainly on infrastructure. and only a very small percentage of it was. so i know, you know, there's different ways to budget in appropriations but for average american they're thinking about -- then where have that? on the hook for a trillion

dollars that were supposedly from feds for all of these projects you know some of states got to make the decision on where money went. so taxpayers -- >> more and more. my notes all went to me. all in my pocket right here. >> dpght go to this. >> should have. i think infrastructure projects under stimulus were underfund should not have given tax cuts to republicans to cut a deal to get those. they have three votes in order to get -- stimulus package. >> what i want to know is we've seen more money is the answer. and i'm hoping you can tell me in account for all of the money that we've spent through close to 100 million a year with everything that goes into this, between the tolls, between tax, between state surcharges and fees, you know on gas tax, if you could tell me that that is gone only to this and you still need more money, i would be first to say well, glad. but yeah get more money.

we don't account for that. >> i think that transportation trust fund in most states should be if they're not and ting they are segregated for a toll project persons they should be. roads are wear and tear. >> sol of the money is down to 20. >>fair to say it doesn't find is way. >> why get more? >> because i think despite the fact that a small percentage doesn't make its way to where it is supposed to go. >> a small percent because you have places that haven't raised gas tax in years to keep up inflation and meanwhile roads. >> we have a new lead inflation turns to surplus measure. >> surplus as we discussed -- >> chump change. >> does not approve enough money i agree with that. surplus appropriated money and money didn't go to that. they spent it on junk projects. they only have 10% of it even increase jobs supposed to create, it didn't go to where it was supposed to go. everybody had their hand in that one. and we know it and they wasted a

trillion dollars on most of the taxpayer money. now at the state level as wn the state has to balance their budget so feds don't have to. so second thing in grouse after pensions, everything else, transportation. infrastructure working like a charm an maybe they just polish for the they're on, or you know working on it and the fact is that that is great example of people pissing away money. >> cant analogize -- >> you could. you could. but it would be erroneous. central bank of greece does not exist they have to deal with central bank in europe. >> i can point you to the part to ignore it. pmpg here's the thing about gas price it is too. people see them going up or down. they drive by gas stations several tiles a day sort of that one thing they look at that is what they think the economy is doing. they notice a tenth of a cent makes difference per gallon so people are feeling it. in effect from six states now but a number of measures to expand states also federal lies.

we shall see. in the teen time i want to take a look at the dow jones industrial up about 94 points you heard the news that greeks are going to go ahead to vote on this referendum so whether they want to swallow big cuts that european lend rs are recommending and they seem to be ready for what will be a close vote even though we're told in polls that the no vote dwarfs sentiment this is greece by the way, not single poll i can remember has been accurate passed federal law. looking at athens greece right now. everyone indoors watching this show. we'll have more after this.

>> iran is going to destroy our whole national interest in the middle east. nevermind what it is going to do with one of our allies but in materials of the countries that we depend upon are -- an uproar they're what this administration is doing. this makes no sense to me. >> all right that was the big

publishing real estate magnet saying that, you know, he's not really looking forward to this deal but he still thinks we'll probably get dawn he's not happy about it. talking about iran, nuclear deal that deadline for which has been extended days now. kerry indicating that we're close to something here. that this tentative agreement we've had in place that includes iran opening if itself up to inspections so fans and that is a promising sign and no mother saying something crazy. so all good news to hear these guys say it not more. but administration types continue the negotiations. next fellow not convinced that republican congressman saying this will also affect our safety at a home if we go through it. you're a concerned congressman is we should just stop and we've heard enough out of the iranians to give us pause, right? >> yes, the agreement itself is plea with many, many concerns. because i have sat down with him in vienna, greatly restrict

where had they can go. nowhere else in the country unless 17 limited to go to. and they do not have that access, so -- >> we know that for sure congressman? because it is still early in this and administration says we haven't told you where those access points are about, how wou know what you're accepting. you're saying if anything is off as a it was in the case of north korea we know that ended up, not good. >> yes, sir, the iranians have said they accept manage access that means they can invite in at their discretion looks clean, pretty and there's no evidence -- >> to move stuff around. they can hide stuff hide and seek. >> absolutely at their discretion when we come in. other issue is nuclear enrichment but we started this conversation with them and not be any enrichment after confession after confession change that now it is how much did they get? and you know university of texas

analysis came out and said three months away from this breakout that doesn't make sense either. you look at the five analyst advisors to prison road just last week -- general petraeus. cartwright dennis and others saying this agreement will not stop iran from getting a nuclear capacity. >> where are we? >> you know, what you're closer to the deal and know details more than yods. i always look at when free agents or football players and negotiating contracts i always follow those with intrigue because i always say what is the single biggest issue let's say player always wants or more money. wants more money and amount doesn't want to give them that much money if they can avoid it. now in this negotiation what i've come to discover is we're very hot on verifying that paramus keeping the deal. and, obviously, administration knows that is what concerned

about. you know iranians seem to be hot on one thing. the 350 to 60 billion dollars of the sanctions taking off to have that money right away. so they want the money right away. >> that much. >> that is interesting i think. >> given them 12 billion and 700 million a month which has helped sustain their economy. >> oil become on the market 2 million birl a day comes to pass. a lot of change. >> general said disagreement is wish l thinking we have a defense intelligence agency. you know, neil this agreement did not include icdm's that left off the table. they demanded it upfront. that means they can work with north korea today, and going intercontinental ballistic missiles to launch the united states. what we have today is hitler with nuclear arms. we have a capacity to develop nuclear weapons and the reach from icbm to reach the united

states this is very serious. and really demands that we assess this. you know, when we address the soviet union, we kept the squeeze on them. economically, militarily, diplomatically. we put voice of america into their country from radio free europe, the city union collapsed without firing a shot. what we've done is lift the pressure off iran. i spoke to this last month that peace -- democracy rather in paris 120,000 people there for peace and democracy in iran incredible meeting. : we'll see. i don't know. i don't know i hear, i hear ya. wish we had more time. i don't know if everything and could have gone administration -- but your fears are rampant i've heard others express begun this deal has been extended. all right, in the meenl time in the middle of all of this

getting word out of the nsa that fight calls to sort of ease up and quit invading people's privacy. silently, very slengtly it has been resuming the bulk data collection that was a source of all of these problems. really?

>> you know, you don't watch james bond movies without being jaded or cynical but this will sound that way. i always think spies do whatever the heck they want whether to justify it or rained in or not. they continue doing -- whatever they want to do no matter what politicians say. then along comes information that the nsa has been quietly resuming its data collection. i don't know who its bulk dataing or who is its target or where and how it is being able to do this. but i do know that it is a concern to freedom works joining us right now. first of all who gave them permission to do this? >> so the administration claims that they have permission and the courts which are nonadversarial courts continue to do this even though another court the second circuit said this was patently illegal under patriot act.

>> brought it up to speed where essentially if you really have to try to find someone and you have to run to a judge. get an order. now we don't. >> we never have because it's a pizic court but that is part of the fundamental problem with the government's policy of going after all of our data regardless of whether or not -- >> know that ahead when this all started that there were going to be exceptions to this like in the court. >> people don't know ahead of time and that is the challenge that we have. >> what do you think is whatting back to take 120 million americans phone records, what? >> so they, you know, patriot act expired one day because of rand paul's filibuster, and now usa freedom act allows them to continue the practice for the next six months. they've decided to do that. there was a challenge to that given the ability that this other court said this is illegal guys, but they've said --

screw you basically. we're going to coop keep doing it. >> wind at the back is the terror concern. : that is wind at their back all of these claims without this we can't protect the american people. but they've never produced any evidence that election of phone data has prevented any act of terror. and this is -- this cycle we go through. >> now you're rand paul left freedom work. for the foundation you founded to i guess make his presidential dreams a reality. are you disturbed by poll numbers that show that they're looking more like dreams? >> no, i think rand has tremendous traction particularly in states like iowa, nevada, new hampshire places where very crowded field is going to allow someone with a plurality vote -- >> that is moving target. >> it is remarkable that he's

competitive this early. not raise the money like jeb bush is going to raise. he's going to appeal to that swing independent voter constitutional conservative, libertarian that may or may not show up depending whether or not there's authentic candidate and rand is that guy. >> were you surprised ted cruz and his book will cool out i thought these guys were on same page they don't seem to like each other. >> result of presidential primarilies you see guys may be as close together as possible potential take shots at each other. i hope they don't do that. bad guys are republican establishment going to ron bob dole one more tim and be surprised day after election when bob dole loses in this election that is jeb bush. >>include chris christie. >> i think so. i don't think christie brings something new to the table. his window was in 2012 and department -- didn't attack the chance then. >> trish regan has been looking

at markets, i think front and center now because of the holiday week. what do you got? >> they're coming forward on friday, you know economists neil are looking for about $230 jobs added and employment down to 5.4% encouraged but let's also keep in mind you know, 20,000 jobs, it is not enough to really fuel this economy in a meaningful way not to mention that enough these jobs have been especially well-paying which you have talked about before. >> i want -- to think about it. it is the pace of the high paying jobs. we need better paying jobs, that is going to be crucial for housing which we've gotten into it. you've gotten into for retailers, for markets themselves because well we have seen steady of the jobs they've not been gang buster. tmpleg they haven't been gang buster. you look at wages what are you -- same as we remember 20 years ago

when you adjust for inflation we haven't budged so as much as administration want to go out there and tout jobs plus 200,000 every month i would counter with what kind of jobs are these neil and enough to take care of their families on? they are not, and you know what, a lot of the policies that we've seen put forward are not helping this at all. you think about what was just put forward yesterday by the administration, the president intends to change the overtime situation so that more people are getting paid overtime. well guess who that is going thowrt. a lot of those people, because small business owners are not beginning to go for that 41 hours. you look at the latest adp report out today, majority of jobs were created overwhelming majority by small business own rs. so we need small business to do well and right kind of policies in place to help them. >> all right thank you always good talking trish see you at the top of course referring to

service sector jobs, of this economy, right? meanwhile look attthis market up about 95 points. and you get a question made and what it looks like greeks have essentially risked financial armageddon again. rolling dice for referendum that all but guarantees we're told. that separates from lenders now that is what polls say. polls are normally wrong but indication early on that maybe we're getting tired of greek taj did tragedy maybe really tired, after this.

>> i'm megyn. macy's and donald trump calling quits. department store is pulling trump brand merchandise from its stores, the latest company to sever ties with trump after his controversial comments about mexican immigrants. trump claims it was his idea to end the relationship with macy's after mounting pressure on the clothing company in a statement macy's says it, quote, stands for diversity and no tolerance for discrimination. macy's carries variety of brand attire including cuff link appeared in macey commercials. last week uni vision cancel

newscast owned by trump. now suing for half a billion dollarss, nbc cutting ties with them. we'll see how it continues to fallout, "cavuto: coast to coast" will be become in a minute.

: all right we're getting word of what appears to be or could

be a 7th shark attack from north carolina coast. hyde county ems officials say a call came in for what was a bite from marine life on the island hoping i'm pronouncing that correctly a small island southern end of the outer banks. again if true this is 7th such attack in last four weeks off the coast of north carolina. so those worries are building up. in the meenl time worries about our market as well. whether this uptick can last and following closely it is not just a greek thing. this market has been kind of inflated for a while u now, and is due for a little bit of a calm down. explain, bob. >> i think one of the big reasons is we haven't been printing much money. money printing markets absolutely vulnerable to a downturn but it has caused by greece or china whatever.

we're absolutely -- on thinner ice without that money precincting that is very important. >> what does that say right -- that propelled this market what has been sort of the healing for it has been all that money precincting printing at a low rate. justified to whether to sort of the gap for all of this. you see that going away, right? i see it gong away. we lost gains on the dow. >> not become to where we were when all of this started are we? >> yeah, but that is it not much movement. you think it is beginning down and fed will come in and do a form and print if we're down 15, 20% problems with that as well. >> talk about quantitative easying, it can to keep the ship afloat. but i'm wondering whether greece could be like that per verbal

like that big market selloff or retrospect is excuse for selloff. what do you think? >> i think it could be. let's face it. even if there's a resolution to the bailout crisis, that is no solution to underlying debt crisis. so we're not sure weft a deal or anything like that. and let's also face it they have shut down their banks, that is huge. think about it or when they reopen banks is everybody going to be calm? i don't think so. >> so what you would do is try to take as much cash as you could. >> exactly. exactly. >> so -- i think we have a continuing issue there, and that is one "black swan" clearly china it was up and then down 5% in one hour. there's some things out there. >> so -- a lot of what you say about always is. we'll watch closely thank you very, very much. >> thank you. >> now by now you know that hillary clinton released a lot of e-mails they're not all of

the e-mails that republicans wanted. but if republicans thought that this was going to hurt her, or hurt her fundraising, well ain't happening. at least not happening yet. more after this. you total your brand new car.

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>> all right, republicans might be glad that hillary clinton is releasing a lot of e-mails and not out but good many are out and they think that this will at least in political terms chip away. but so far it is not in terms of her fundraising. she's expected to hit 45 million bucks with a quarts just a quarter. i don't know what that means but i know charlie gasparino does and have been following. >> money, money, show me the money she's -- >> really the most you can offer

here show me the money? >> that dr. evil voice. >> what i'm saying -- >> needed money man. [laughter] >> one million dollars. actually, anyway she has most effective fundraising apparatus out there. maybe you know -- probably better than jebs jeb is formidable yeah she has people at every wall street firm. not hurting her. saying that it is god good an clinton foundation is slush fund. >> that that is not fair. >> no, no didn't do anything legal but -- what you do you take it from the clinton foundation and you call all of the same people you called. >> 90% of these donations were 100 or less the 45 million. >> yes. and 42 million is what president

obama raise it had in his first quarter fund razz ling. >> fun to me during the company. >> you know what she's doing with e-mails ignore, ignore, igging mother. and it is working. >> and e-mails reminding me of jeb bush tax returns you haven't read them, but i have. overload you with information and a he says a.m. the northeast transparent guy in the world and that is the same thing with e-mails 99.9 -- >> the real risky ones in 2011 to 2012 they're not out. >> yeah. but that is whole thing to continue to overload you. >> with good information. >> going to take whoever, maybe the eventual republican nominee then to go back where you're going to go back a year and then start going through this. and using whatever is come out. >> badly in polls because

sanders has been gaining that she would change that posture. >> i don't think so. he's -- gaining a little bit in the polls. but in reality you don't hear much. she's ahead of him by a gazillion points. >> in new hampshire, iowa, and crowds huge for him. he's 8 point in new hampshire. i know. a long way to go. >> a lot goes in new hampshire a lot of liberals up there. [inaudible] >> yesterday. >> i have no lead. >> in new hampshire. >> i wish you would go to switzerland. [laughter] do you think something to this notion that it will chip away or do you think media loves her? >> it has to be something that captures the imagination. and that really captures the attention, for example, donald trump and the comment about mexican immigrants that makes headlines, and everybody in the country will pay attention to

that because of who it is and what he said. she isn't there yet. there's a lot that has happened with her. a lot of dirt. but none of it right now is sticking. >> same for donald helps how to frame issues. everybody there were out there early on but talking about his birth certificate and it is a big issue. >> not gaining tractions in the polls thank you very much. dow now is up over 102. so become and forth. much more after this.

. neil: all right, we're getting word right now that the justice department, this is coming via associated press, is set to investigate whether airlines are colluding on prices to keep prices high by trying to rig the slower pace of travel. in other words, that that is how they're doing it, to be

undetected to keep prices as high as they are. this comes on the heels of jetblue announcing it's going to charge you for luggage. southwest standing out. not part of this. but setting sights on that, via the justice department, whether airlines are deliberately gouging you. trish regan right now. trish: thank you so much. we are monitoring the situation in greece, looking at our markets at home, up 83 points off the highs of the session. optimism, hope that maybe in fact in the 11th hour some deal might be reached. the prime ministers telling the masses of people to vote no in the sunday election. he was elected he would vote no to austerity, encourage no to austerity. that is what he is sticking to. people may call it irresponsible. he's being political domestically, we'll see what it means for the vote sunday. calling eurozone chiefs