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tv   Cavuto Coast to Coast  FOX Business  June 17, 2016 12:00pm-2:01pm EDT

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stuart: we are still reeling from moments ago where tom angle a dealer in guns told us he sold 30,000ar-15's in a matter of days. extraordinary number. charles payne, it's your show. charles: have a great weekend, guys. dow add to go major volatility. what if i told you this is nothing compared to the whiplash investors could face next week? uncertainty over so many things. you've got the fed, you've got terror and then, of course, the big eu u vote that rocking stocs this week. fbn:am host, lauren simonetti. lauren: hi. charles: this is a pretty crazy week so far.
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>> yeah, you know it's funny, charles, you look at the dow, it's down like 100 or so. volatility is really not taking off. it's really the volatility traders, if you will, are waiting till next week. i think that's going to be a huge week, you mentioned all the things that could move the market, probably nothing bigger than the whole vote on the 23rd, i think that's going to swing the market big time, i think. it's going to be a buying opportunity if it swings a lot. charles: you're a technician, if we break those today or going into early next week, when does someone buy, you buy on the eve of the vote because the downside could be more painful near term? >> no, i think you buy -- i think you wait and see what happens with the vote. i mean, it could be that kind of thing the market gaps down in the morning and continues on down.
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who knows, maybe 300 points. i think the market is a little oversold. we might have another letdown. that could be your opportunity to get into the market. charles: yesterday gold broke out to 1300 early in the session, all of the defense trades have been up. yields have gone down dramatically. feels like this a dark cloud and nothing is working right now. >> yeah, nothing is working. gold mining stocks, that doesn't necessarily have to do with gold, vast the valuation and been on terror in the last six months. the market has been in a trading range since december 2013 of 16,000 to 18,000 but you have 95% of economist in europe believe that the market is going to be down some degree from 5% even into bare market territory. if britain does decide to exit the eu, i think short-term for sure european stocks are going to suffer.
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jpmorgan came out recently and said 25% of workforce there is going to be affected because if they're out of the eu, they have to move those to continental europe. there's going to be a lot of problems short-term if britaine. charles: on that note, we have that. i think people don't realize what they used to call the humphrey hawkins testimony by the fed. a lot of anxiety and a lot of unknowns. lauren: i think we have seen the fear trade play out with gold before today. up seven days in a row getting back up 1300. we have seen the fear trade and i think it's going to get a lot worse next week. unfortunately we are going to be trading based on what happens on thursday all week so it's an end of next week kind of big game that's going to effect things. charles: gary, beyond some of the other things, the market is essentially been sideways for a long time.
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we haven't had a new high this year. we did show some resolve but we have been range bound for so long. what do you think the market is looking for so make a decisive move either way? >> that's a very good question, charles. we've had everything from oil prices crashing, gold taking off, the fed raising, not raising rates. the market has everything thrown at it. as you point out correctly, it's moving sideways. personally i think it's waiting for who we vote in as president. maybe we don't see anything regardless of all the other things until, you know, that tuesday in november, maybe after that we get clarity. maybe then the markets starts to move. charles: that means a long five months, a long fun months. i think they held tim cook for a long time. the biggest on the dow today.
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they say designed similar to a chinese phone which is hard to believe. apple still selling phones there. lauren, what exactly is going on here? lauren: first of all, apple's phones even the ones in question, beijing does not want apple to sell in china and the reason is apple has decided to stay to order and flexing muscles with apple. if you want to do business with china it's very difficult to do so. china is a huge component of apple sales. that's one of the reasons sales fell in over 13 years. they've had other issues. remember the whole thing with the content, they shut down i tunes music and ibooks a couple of years. this is beijing flexing its
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muscle because it can. charles: particularly tim cook, he's not strong enough. it's the largest market for apple. john, it's not just apple, right? amazon is down 12 bucks. google is down. i mean, what's going on? >> no, they haven't, i think it's very -- i think they're great companies and decent valuations. i recently bought apple because of the valuation. 500billion-dollar market, 300 billion in cash and i have a decent yield. the company's valuation is compelling. they invested a billion dollars into a uber-type service in beijing, in china, kind of get on their side. a lot of the tech companies, they're going along with the economy, you know, the company is just along and that's what you're seeing with the big-tech companies. charles: what are you doing with the tech names particularly something like apple that by the way valuation with apple has
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been there for a long time and it's been a, quote, cheap stock for a long time. >> i'm not touching any of them, not because like john said because they're not great companies, i think they had the great run. the fang stocks, the facebook, et cetera, i think everyone now -- i think the market to be honest with you until there's clarity if we get that is playing defense. that's what i'm doing, i'm playing defense more or less on the sidelines. china doesn't bother me. what china does -- what would bother me the whole thing about china whether it's hillary or trump, they try to do something in retaliation to that, that would be horrible and send the whole kind of free trade down the rabbit hole. that would bother me.
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charles: i think the american public want to see something. our companies not being shaken down on weekly basis like what's happening with apple. president obama today meeting with saudi arabia's deputy crown prince. the fight against isis is the backdrop. the tensions with the saudis has been escalating for some time. how do we amend the fences with the saudis? >> we need a current policy which we had not for years. look what we did in egypt, this is a perfect example of foreign policy. we back the overthrow of the government and you had democratic elected government. we just don't have a foreign policy that's any consistency whatsoever and that's what saudi arabia fears. they are calling them a sunni
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bomb that iran has potential to built because they are fearful of iran. we have taken them from a country that's behind the 8 ball, one of the richest countries in the world by lifting sanctioning that have taken decades to put in place and saudi arabia is very upset about that and i believe rightfully so. charles: lauren, having said that, many people say that our relationship with saudi arabia is the ultimate friend-mies. lauren: yeah. charles: they really haven't stepped up to the plate with respect to refugees. sometimes the enemy is my friend but this is a confusing situation. lauren: it's a really bad marriage. we don't love saudi arabia and they don't love us. right now saudi arabia needs our investors, their economy because low price of oil, what's going on there? i see this as saudi arabia trying to court our investment
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and i'm not sure investments will play this time around. charles: they finished last year with a 96 billion-dollar deficit. the largest in their history. a billion dollars on a weekly basis in fight in yemen that seems to be going no where. certainly an economic crunch but how do we exploit that and get better leverage rather than them all wining and dictating to us? >> i'm not sure, charles. lauren seemed to imply that they kind of need us. we need them. you know who the biggest buyer of military equipment, goods, services is? it's not south korea, it's not australia, it's not canada, is the saudis, they are the biggest buyers. you go where the money is. they need us and we need them. the military government complex we have. we have seen all the bad things they do in the movies, but they
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are powerful. they need our, you know, airplanes and rockets and all that stuff. whoever in the last segment said friendmie is the best description. [laughter] charles: again, i know that we have mutual relationships around the world and are complicated but we haven't exploited our advantages. where does this stop, john, because ultimately this has to come to a head? >> it stops when we rerealize we have four aces we don't have to fold. they are in more trouble than west texas drillers. they need to reinvest in infrastructure. that's one of the reasons they are going public with their old company. that's one of the reasons that they're changing mindset to make investments around the world because they have a huge budget
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short fall that they cannot cover. i think they flooded the market because the government is running massive deficit. they are having to sell equities. we hold a lot more cards, i believe, than they do. charles: i agree with you there. i'm not four aces but i think we have a better hand than they do. have a great weekend. we will talk to you soon. russian jets bombing u.s. forces in syria, not once, but twice. we are now learning a second wave of attacks after the u.s. and military called russia to tell them to stop. well, guess what? they kept attacking, should we be worrying, jack king is on that. he's next
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liberty mutual insurance. charles: breaking news, republican congressman david jolly dropping out of florida's senate race this in anticipation of marco rubio running for reelection. would rubio or won't he run? he's been signaling lately that he's ready to get back in. the decision of representative jolly is confirmation of that. the focus shifting to syria. dozen officials petitioning the white house to bomb assad, right now regime. this is as we are learning that the russians are bombing u.s. back forces in syria this after the u.s. asked them to stop. the timing of it is certainly interesting. we get 51 state department officials imploring president obama to take the fight to
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general assad's troops and, of course, our -- the forces that we are backing there are attacked not once by twice, general king. >> well, look at when the russians made the military intervention in the syria some months ago back in september, the first forces that they bombed even though they advertised to deal with isis, the first forces they bombed were, in fact, syrian that were backed by the cia, those are the ones that have been given antitanks weapons to that have been successful. we folded our hands right there, charles. what we should have done immediately then after they did that create it had runway that those airplanes are coming off and tell them if they do it again, we are going to take the airplanes down. the leaders during the cold war knew how to deal with the russians. this white house is paralyzed by the fear of adverse consequence and it stops them time and time
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again from doing anything. charles: general king there are some in the country that say it's a mistake to back these so-called moderates, we have gotten in trouble by this and leads us to nation building, let assad and russia led nation, they are bombing killing the scenes with the children and women. how does the administration deal with that pushback from public opinion? >> well, this administration isn't going to do anything, charles. we've had abysmal failure of our policy in syria which was to overthrow the assad regime. we passed up the opportunity to help syrian moderates which were vetted. he said, no, the war shifted to a stalemate as a result of it when this could certainly have made a difference. what we have now 500,000 syrians
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dead, 11 million displaced. 4million refugees outside of syria contribute to go problems obviously in europe and also to migration problems with isis infiltrating them. the problems in syria will be passed on to the new president, two problems, what are we going to do with assad and safe haven in syria. after orlando is stunning to me because the only way that isis stops attacking people in europe and in the united states is you must destroy the safe haven in syria. it is the center of gravity and we are not talking about -- we are not pushing president on the president, why isn't he going to do that, what he is telling the people, these are his words, the conditions for the destruction of isis, translation, the next administration would have full responsibility to do that, that he has no intention of doing whatever it takes to accomplish
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that mission. charles: and on that note, to take rocca the capital of isis and they are using christians ss human shields, air attacks have been smat effective but to ultimately take them out you need people -- boots on the ground. should those be american soldiers leading the way? can we effectively train and aid by air the locals? some are saying, let's go in there finally perhaps doctrine and get the job done? >> good question f we ended the against assad, then the syrian arabs who are fighting assad will be free to deal with isis. what do we do with isis in the meantime because they are still killing us. we go to arabs in the area who came to us, this was four years ago when isis first stood up and said, look, we are going to deal
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with them, we will put together a coalition, with e need you to participate in it, u.s. boots on the ground, not a majority force but a participating force and we want you to lead it because you have the experience. that will be on the table for a new president. this president is not going to do that. charles: general king, thank you very much, appreciate it. >> good talking to you, charles. charles: while we are looking at what can be done over there, syrian refugees are still heading over here. eingwhite house is escalating placed in the u.s. after the terror attack over the weekend. we will have the stunning new details for you at the top of the hour. to the war on guns, next what smith&wesson stocks say about the push. we have the latest in all of that right after this every day you read headlines about businesses being hacked
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charles: this just in golden state warriors, both have been fined $25,000 for separate incidents from thursday's game six of the nba finals. curry was fined for throwing mouthpiece after fouling out in the fourth quarter. that was the first ejection of his entire career. anyway, big game sunday. in the meantime speaking of big, it was a big quarter for smith&weson besting guidance after congress will crack down on gun sales. stock up 6%. big day today. peter barnes, if the law makers will address gun sales, peter
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feel that democrats have more win than ever before. >> that's right, charles, they are trying to put pressure on republican senators that are up for reelection, there's a lot more republicans up for reelection than democrats this year and so some -- some senators like pat tomey of pennsylvania and others are now talking about possibly going along with some additional gun control measures and all this could start to happen next week after the senate yesterday broke a dead lok over possible new gun control legislation. the democrats have been filibustering led by democratic connecticut. on monday the senate will start considering four pieces of legislation, two from the democrats and none appear to have enough votes to pass but that could change because they are negotiating proposal of terrorism watch list including
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the no-fly list which prevents certain people from boarding commercial aircraft to get on that list, about 50,000 people on that list. so for guns the legislation has been nicknamed no fly, no buy. charles. >> real quick, peter. donald trump meeting with the nra. there's some compromise in the air, do you think maybe that should really shift this whole thing? peter: donald trump is going to meet with the nra, that has given a push in the republican and the nra has come out in favor of limiting to gun sales of people in no fly list as long as there's due process provision and that's where the negotiations -- that's what the negotiations are circling around is trying to come up with some compromise in that area. charles: all right, peter barnes, thanks a lot, bud. peter: you bet.
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charles: billionaire backer making sure clinton gets a run for her money it's more than a network and the cloud.
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charles: stock shooting up right now but up huge after our very own charlie reported a shake-up.
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i guess it was floating around here but it was amazing what happened yesterday. >> let's be clear, this has been going on for a long time, depending on who you believe is behind the move to force out the ceo of viacom, what happened yesterday was the first step in forcing him out of ceo, removing him from the board of directors, he and five other people, long-time independent director, prominent voices on that board, i will say this, charles, after they did that, demon and the independent board filed suit in delaware court to block it. no matter what comes out of this, and i'm getting this from people inside the company, loyal to demon, his days are numbered in that company, if the court comes back and says, okay, guys, stay execution, stays for now.
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charles: the writing is on the wall. because stocks shot up so much that wall street has weighed on in, demon, you haven't done a great job, we want you out of there? >> i don't -- you know, here is a thing. there's a long-term play here. what is the long-term play for viaocom? does the board have an understanding of what they face in terms of media? do they know what court cutting is going to do to the rest of their properties, mtv and other stuff? is it really -- should you hold on to the paramount studios that demont want to get rid of. charles: everyone knows what is at stake, argument like anything ills, but i want to ask you about donald trump, fundraising kicking off in texas, any updates because again i'm hearing folks in big d it's
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going to be big-time money. >> depends on who you talk to. i heard that they're still having a hard time raising money. i heard just about anybody and their uncle could get into these if you asked. there may be a lot of people showing up but not a lot of checks being written. charles: they should make you bring in your checkbook if you want to be a part of it. >> we wrote a story on fox business.com and we talked to the fundraisers down there and they're telling me they're having a hard time making a sale. there's two things, donald trump antics are hurting with fundraisers, there's the other side of the coins that a lot of republicans are scared to death of another third obama term. and that's going to play out. you know, listen, if donald's poll numbers come back, they are
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done after a pretty bad couple of weeks, maybe they will start raising money. monday is a key day, we are going to get update on the financial forms. let's see how much money they've raised. the trump campaign says money is pouring in. charles: they'll break it out? >> oh, yeah. we will see that. charles: thanks a lot. we want to get reaction for this big donor who is backing donald trump, media mogul. you are writing trump a big check? >> that's right. charles: can you tell us how big? how big is big? >> six figures. charles why do you think many fellow billionaires remain reluctant is it the tone of the campaign? >> well, i think a lot of people didn't get what they wanted.
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there's going to be more regulation and candidates think they are going to get a long way. whether i like donald trump or not he's the only choice i have and i'm a reallyist, i have to go with the best choice. i think he would pick a good supreme justice and would get rid of a lot of the regulations, a lot of the nonsense and i have to standby him and do everything to help him. charles: do you think it's a form of immaturity that he's not a pure conservative or is there any merit that, hey, whether he sit this one down based on principles and reload for 2020? >> first of all, i'm not going to call anybody immature. we might have disagreements.
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hopefully people will come around that we have two choices, one choice is more of the same and one choice is get rid of a lot of the nonsense and i don't think anybody is so stupid and say we will wait for the next election. this is today, this is 2016 and it's big decisions and we have to go with the person who is doing the best job for us. trump may turn out to be a great surprise in a positive way. charles: there's no doubt about it. it's interesting that you say that because it surprised people in a lot of issues so far. it's not sort of -- having said that, did donald trump approach you at all or is this just a decision that yaw made based on your correspondence and the fact that you want a probusiness president? >> he has not approached me. i remember when ronald reagan ran for president. no, he's not qualified, bologne.
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all you have to do is go in there and stop the nonsense. charles: maybe you will get a moment to talk to him. what role does he plan in trying to persuade some of these folks because some could be persuaded? >> well, i've had to persuade some people. who is going to select the supreme court justices? are we going to top regulations upon regulations? are we going to get somebody who may be a little off the wall but will get things done. charles: i read some where where the rnc gave a list to call and didn't call back. how much elbow grease should he put this as well? >> a lot of elbow grease.
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television will decide the election and the person who has the money get it is most television time. simple as that. charles: stanley, what do you make -- you have 60 members, gop house members don't say that they're going to back donald trump, you've got several who says 4 flat out that they won't and you've got governors almost every day, a new republican governor say he wouldn't back him, isn't that sort of an impediments when you have highly elected officials coming against with the candidate of the party? >> of course it is. smarten you have. we better get behind him and work together and win this election. charles: is there enough time between now and november even though it's late in the game to catch up on the money, catch up on the television and ride this ship? >> i would think so. charles: all right, well, stanley, thank you very much, i appreciate your time.
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when i run for office, i am going to give you a call. [laughter] >> thank you. charles: see you soon. did apple just hit a big wall in china possibly halting iphones sales? i think they are being shaken down, we will discuss it next
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.. >> i am satisfied with your fox
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business brief. over 130-point still to the downside. dow jones industrial average and 76.817656. a one-year chart over 1%. worst performance on the job this week. these are down 4% pure coca-cola, apple, jpmorgan done 3% this week. retailers at the up arrow spirit macy's, nordstrom's, all gaining 3%. ms. is up 2.5%. calvin kline and tommy hilfiger. the ceo says their department store sales are doing well. looking at these over one year and their performance. turns out nordstrom down 51%. close on 44%. s&p down 2%. retailers getting hit hard. this is a big story here as the two could not come together and make a collaboration. we can enable a banker to travel to the most remote locations
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charles: beijing demanding apple halt iphone. still selling those funds mean it is appealing that decision. risk and reward host deirdre bolton. >> it is the biggest market outside of the u.s. this is really worrying for apple. i think some of these fears have been building since the first quarter results we spoke about. you remember back in april the company reported its first revenue decline in 13 years. the reason for that was a late iphone sales in china.
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so this just shows this power struggle between apple who very much wants to be there, what to sell products there in the chinese government may be same time you know what i'm either we have something else in the wings that is ours that's going to be a competing product so we don't really care where we want them to him. charles, last week or the week before last, you and i spoke about apple is one billion-dollar investment in the chinese can editor, which a lot of analysts said in a letter, this doesn't have a lot of crossover with apple's existing businesses. we think apple did this to curry favor with beijing. nice day this decision, you see the tension going back and forth if we can't overstate outside the u.s., the country apple cares the most about is china. charles: that's the one that is growing the fastest. the problem is when you pay ransom, which a lot of people look like this investment was, it doesn't go away. it gets worse.
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the idea that somehow apple ripped off the chinese company, i almost fell off my chair. >> this is the state of play. china sees an opportunity to attack apple, so it is. grassroot story. charles: tempo castigates effort. i feel like i'm echoing donald trump. tim pope, get tougher. >> i think that if the underlying question. how do you get tougher in a marketplace controlled by the government? it is not a level playing field. people have been doing business in china for decades. what apple has to do is come up with some new tricks. we were talking about this last week with the world developers conference and the fact they don't have a new gadget out. something we can hold in our hands that we really want. they are trying to services, trying to improve software. they need to come up with a new trick.
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full text is down 23% over the past 52 weeks. nasdaq only down 4%. investors are anxious about apple's potential inability to innovate quickly. charles: absolutely. i want to ask you about this report that reveals the fbi facial recognition system with over 400 million photos. much more -- previously disclosed. essentially privacy is gone. >> privacy is gone. and also our knowledge meant that the definition of privacy is seriously being challenged by the fact the government is okay, we have these 30 photos online. the fbi saying that. as it comes out, 400 million. in certain states, just going to read from this list here. illinois, michigan, texas, north carolina us in other states. your photo is in there. charles: we see the movies.
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no matter what the movie is, we say the fbi and they find someone in the most remarked warner of afghanistan getting in the limo. this seems far-fetched, but doesn't backfire when we see things like this that the fbi can't write simple crimes? >> or god forbid, even worse as we just saw, a murder in paris, france rightfully his officer, police sergeant was stabbed and it was light streamed on facebook. to your point, take all of our photos. they don't care. but then somebody is actually live streaming a murder? maybe that is a moment to get involved. charles: in the bad guys use technology better than the good guys, you've got a problem. we will watch the show tonight at the clock. nba finals game seven of why that means both teams lose. it sounds weird. we will try to explain it next.
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to help you keep rolling with confidence. go long™. ♪ charles: the nba finals headed into game seven. that means california is going to get their piece of the action if you will. big check to cleveland cavalier players subject to california's 13% tax on visiting teams. this is a tax. last fall california, believe it or not, california. that's curry is not happy today after being ejected from last nights game for throwing a mouthpiece that a fan. his wife quickly deleted this tweet, accusing the nba of being rigged for money or ratings. on the fallout from all of this. jim, i kind of halfway
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tongue-in-cheek set the nba would probably suspend a for the first three games of next season. $25,000 fine. but his assets are little bit shocking and someone in areas in. >> well, you shouldn't throw anything into the stands. that is permitted. there are three files last night called again and that should not have been called. having said that, that did not cause them to lose the game. steve pointed out it was not the reason. they were behind dirty went to a method with absolutely nothing to do with anyone's whistle. >> every time they got within eight or seven points, cleveland answered back. a typical basketball game back and forth via the braun showed up, absolute fantastic. these ratings have been through the roof. that's curry is the golden boy, one of the guys carrying this into the next generation. they can't be too happy with the actions of last night. >> well, the warriors can't be
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too happy that their main player was suspended for game five. they are up three to one and the nba change the election and competitive nature of the series prices ending in or that minor altercation with lebron james. so they changed the competitive balance and find themselves game seven which is great or disney, great for abc, pray for the cavaliers and lebron james is the best on the planet and has proven with 41 straight points with rebounds, ss. number one, lebron james isn't scoring in the series then up and down. the nba step into it when they did this. now they have people complaining the warriors are upset and at the right to be. it should not have happened. charles: to a degree, your feet into the sky of x, not skeptics, but conspiracy areas. to your point, everyone is going to make a lot more money now. >> i don't say deliberately, but it should not have happened.
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there is an error of judgment. i don't believe it is red. that is farcical. but they got it bad with the last night and they got a horrible break in the suspension of germ on green. it should not have happened and that is what's fueling this. it didn't feel suddenly touristy theories and the type of thing mrs. currie said. it is the actions of the nba. not the actions a player on the court. it is these coincidence is that our leading to it. charles: coincidence i will. before we go, we know these rats understand that the tape and what we've seen in sports is that they will come back and maybe overdo it for the other team. in other words, could receive the warriors is something of a referee advantage? >> well, now you are buying into that theory. >> as a human knee-jerk reaction.
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>> the home team marty has an advantage because it's intimidating to be in front of 20,000 people hollering and screaming. that is why the home-court advantage in the ra 4.5 favorite after they look terrible in his last two games. they've got to make baskets. if they play the way they have played, they were when the game. if they play the way they played the last two games, we will be in for a barnburner in the cavaliers might win this. the one thing you have to say about all of this is that the nba now is front and center and the referee should go away. there shouldn't be any question as to who wins the game. let them play and whoever wins wins. charles: you are the best, my man. talk to you again real soon. another big drop in the market. down 83 points. i for one thing if you think this is a crazy week, next week will be absolutely wild. don't miss a moneymaking show tonight. we will cover of all for you right here on fox business. a bathroom?
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>> this is caputo coast-to-coast. stocks struggling as he finished his topsy-turvy week. even more which last -- whiplash. a lot of people worried, particularly banks over there. nicole petallides report that banks could be in trouble here. >> that's absolutely right. hi, charles. you have been mentioning stocks over there regarding names such as barclays and deutsche bank have been hovering around lows. this big heading to a new low. we have seen those things under pressure doing better today. i will note that the year to date are down about 30% of roughly. credits down 40%. then bring it right here at home, the u.s. watching the u.k. votes carefully start in on the 23rd reporting throughout the night and into the morning on
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the 24th. goldman sachs and jpmorgan chase with analysts on the exposure with the most exposure to the kingdom of 7.5 billion operating income in the united kingdom. they also noted that morgan stanley would be vulnerable if they would dare a bronze -- bear a brunt. those are names that could be volatile. i would anticipate the entire market as we heard from experts has appeared on fox business. that being said, you don't want to have any exposure to this. within the group such as state street are also northern trust. you are seeing those names today with a thorough strain to hold onto some very slight gains. those are the ones with the most minimal exposure to the united kingdom in particular overall
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when we talk about the british exit known as a possibility and a vote next week with so many factors. volatility, dollar, these are the things fluctuating in the entire community here and abroad. we will be watching closely. charles: nicole petallides, great staff. we need another excuse. certainly it to one guy saying we can actually. >> on the face of that, if you look at britain, they are not that big of an economy. they are the second largest. germany is about 20% larger. losing a couple% of growth is not such a big deal. but where it could become a massive deal, a massive deal is if there are geopolitical consequences. it represents a major victory
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for populism and that is spread throughout europe. charles: this is a culmination that began a decade ago. i had the guy from finland, the eurosceptic bear when it was no one really talked about it. here they almost won the election and all are recently. >> they are strong everywhere. spain, succession threat there. this is a potential existential threat. haiti is a fancy word. charles: they are same lesson of the nationalistic movement in the sense that these nations want a greater sense of control of their own futures. they want to preserve parts of their culture they feel are fading. what is wrong with that? >> i don't think there's anything wrong to be honest with you. but it signifies in today's world which is so interconnected is that you can't do this all at once without risk gain dominoes. and without risk in the whole
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eurozone falling apart. the most -- the euro. there is no more euro. look at what we have. all of a sudden a critical currency. this is almost giving the keys. i hate to say this, but this is almost giving the keys to china if the euro starts falling apart, if populism starts catching fire. charles: let's be honest, none of this works about reform. it is a giant utopia and non-of it is ever going to work if they don't never have the guts to fix it. >> you are absolutely right about what you just said. charles: this now is the biggest drag on the dow. we know beijing has ordered to halt sales of the iphone's picks. they say it is due to a copyright infringement. apple telling us models are available in china. they are appealing this right now. they also issued a quote saying
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we appeal an administrative order from a regional patent tribunal in beijing last month announced a result the order has a pending review by the beijing court. we know all of these over there and we got this score, backorder. a good old-fashioned shakedown. >> it's not coming from the president. the prime minister doesn't know anything about it. charles: regional shakedowns. it is nonsense. charles: they are following the lead of the country. >> absolutely this is coming from the top. apple is a little company, the largest company in the world. apple probably has five iphones himself and his child probably has three. this is all about paying a premium price for made in american products. they don't want it. they don't want the chinese citizens shelling out $1200. that is what you have to pay for
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the highest brand apple. charles: although they too manufactured. >> they do manufacture them there. you sometimes have to pay $1200 for their own brand. the price is six or $700. this is a strong message to consumer product companies in america. don't try and brand your company's with american names and expect to get premium prices. my guess, and this is just a guess. if apple is willing to come down in their pricing -- >> some of that is out of their hands. there is a line many blocks long and a lot of the chinese folks by as many as possible and ship them to china. >> this is exactly true. this is what the chinese don't want. charles: how can apple control that? apple just made a billion dollars investment in a
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ridesharing uber type company that seem so off message. >> yes. this is pr. this is what is called public relations or if you want to be blunt about it, ransom. they are doing everything they can to make nice with the chinese. charles, you are brave. the chinese to want the brand apple. apple is a magic brand. china doesn't want american brands to the magic and carry premium prices in china. they want their own cell phones to be the number one brand in china. apple can compete again. apple will compete in china, but they have to lower their prices. they just are. even for chinese shipping products over there. we've got to wake up to china, charles. i have been a mess. we have to. charles: if they acquiesced and lower prices, so we lose? >> it's not standing up. there are other things we can do
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to stand up to china. it is all just talk. we are fighting a war in afghanistan. charles: before you finish up this statement. there you go. >> we are fighting a war in afghanistan which is for china's benefit and we don't even know it. charles: thank you very much. we love you, buddy. the state department wrapping up this process to bring in searing refugees to this country. believe it or not, it will not have come in since the olinda shooting in the administration want 10,000. they were once more. former reagan advisor but farland is here with a warning. a lot of people will be shocked to know the number is 440 when searing refugees have come into america. the second-largest deposit has actually been to florida cynthia lando shooting. president obama dead set on bringing in a whole lot.
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hillary wants even more. >> charles, we are an immigrant country. it is part of what has made this such an innovative country. and yet, you really have to be able to discern here in the government trained immigrants who are paid nine, well-meaning and a real boost to our economy and those who really pose a problem. based on track record, you look at the obama administration's ability to discern between good guys and bad guys, it hasn't been very promising. think back syria, five years ago. even trying to find who were the good guys, the opposition that might as help desk prevent the civil war and the deaths of 400,000 people. the obama administration couldn't figure out the people we should have been backing and those we should oppose. trying to imagine we will be able to figure out and got thoroughly and properly 10,000 people come in right now.
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there is also the issue of cost. couldn't we spend a quarter of a million dollars per family, which is what they are budgeting for this, better in the middle east and get a lot more bang for the buck by funding and helping to support refugee camps in jordan or turkey? you would get a lot better care, a lot less turmoil and a lot less threat of bad guys sneaking through the systems. charles: the administration's retort would be, you know, talking about the terror we have seen in this country. most of it has been homegrown. people who are american citizens born in this country. it is hard to point to a searing refugees under president obama. of course you alluded to the notion that america has always had open arms for immigrants, you know, the statue of liberty says give me your wretched and so forth.
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what you say to the people who say that should be the driving force behind our policies with respect to these refugees? >> again, immigration has been a bedrock of the ball at the united states throughout its history and it ought to continue. you've got to be able to have a vetting process that can enable you to know who poses a risk and who doesn't. we can do that. and further, we can do a lot more good for above are refugees if we put that same amount of money to use in turkey cams webcams in jordan. it can be done. charles: can we keep those people safe over there for a start to establish these camps? turkey would be a problem. >> well, we can do it. it will take very focused attention providing the kind of services including security, but it can be done. we have done it before. i look at what we did in dirt
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countries when the vietnam war ended in the philippines and other southeast asian countries. it worked and it can work again. we've just got to have a little bit of focus, scale, professionalism. that is the right way to go. charles: you know, the saudi prince that met with president obama. i've seen photographs of literally acres and acres of these great times with air conditioning and just amazing facilities to temporarily house a refugee and they have been accepted, to my knowledge, even when searing refugees. how come our allies are playing more of a role in this? >> well, they should play a larger role. there are countries in the gcc, the gulf countries, qatar, the emirate who are hosting refugees. they ought to be hosting more. it can be done and we ought to work with them in identifying ways to grow those camps with
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proper security and services and we can spend the money of this proposal a lot better over there. charles: thank you for a much. really appreciate it. >> always a pleasure. charles: new information on the orlando killer's use of face that during the attack. here are the details of the senator pushing for answers to facebook. get ready for the rio olympic games
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by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra.
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i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. charles: more details on how they are lando shooter --
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orlando shooter search to see if massacre was trending while he was actually in the act of committing this whole terror event. senator ron johnson is questioning facebook's role in stopping terror nature is made by phone. senator, thank you for taking the time. as the news continues to come out from this, it's extraordinarily more shocking and horrific. the role his wife played, but also social media. you have reached out to facebook did what exactly are you trying to achieve and what is the company said thus far? >> first of all, let me point out that facebook is doing a number of very innovative things, using their social media platform to counter the message of these islamic terrorists. i fully expect them to cooperate. they've indicated they will. we are trying to gather the facts. we have a number of oversight letters.
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they gathered the facts herein are lando. san bernardino, ford had, texas and even these plots in milwaukee, wisconsin. we want to find out what we could possibly do, but lost to help prevent these things in the future. charles: is there any resistance is the first amendment been brought up? i sort of protecting the rights of these people who posted things on facebook and/or twitter been brought up because that's always the obstacle with these sort of things. >> listen, we will be sensitive to facebook's business model in people's personal privacy. but we've got a dead terrorist here. find out exactly what this terrorist was searching and how he's using social media and even more importantly, what extent
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were law enforcement officials aware of this? what decisions did they make based on the information they had? i realize this is monday morning quarterbacking. hindsight is 100% perfect. that is my job and the job of secretary jeh johnson and everybody who is concerned about this. we'll find out what we can do in the future. charles: it is not about hindsight. it is about prevention. i see where they seized and pages of islamic terrorists cap more active on the eve of these attacks. it is out there. is that out there in the lab or something like this will happen is always out there. ultimately, do you think you'll get enough cooperation from facebook and twitter of the world to thwart some of these things before they happen? >> i hope so. again, no normal human being wants to see this kind of slaughter. we all want to prevent these things in the future.
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it is a matter of how we use this information going forward. charles: senator ron johnson, thank you for your time. >> have a great day. charles: take a look at also bet shares, following analyst comments. of course that is the that is the parent of google working towards now a seven week low. also, the viacom shakeup continues. breaking news on the fallout next. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪
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♪jake reese, "day to feel alive"♪
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charles: more breaking news. bought from the viacom shakeup. liz claman and charlie sub and reporting on countdown to the closing bell at 3:00 p.m. we've got something so important. what is it right now? something fresh going on at this very moment. >> still the huge battle for control of the top of viacom. bran shorts broke the story
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yesterday about the board shakeup. here's what i cannot. the next ceo were pushed out, may have been decided. a lot of names have been floated, but there are unlikely choices so far. you've heard about peter german, having so much fun doing planet of the apes. making a lot of money, doing great. he's running dreamworks animation at the left would not make a lot of optic sense to move over to another big media giant. chase carey is one. the decision may come down to a man whose name is not really been out there yet. chief operating viacom, tom dooley. dooley has been involved in enough since 1980. by the way, he's been on the board for 16 years, longer than the current ceo has been on. he was not one of the names that sumner redstone and company move to boot up the viacom board yesterday.
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so what you say. it may come down to something that happened in march they barely made a ripple in the entertainment world, but may well make sense now. dooley's contract was renewed in march and it is handed a small little provision. i'm joking. it's not that small. it's about to become one of the most expensive wine and in the history of executive contracts. if viacom chief operating officer duly does not get the nod, he could choose to depart and in his contract says he could get 60 plus million dollars in a payout. the chief operating officer gets $60 million payout. also with the board were moved around are changed, which is exactly what was attempted yesterday. i did get in touch with the viacom spokesperson. we can put up what he told me. he didn't want to comment on anything more than this. it is factual or contract would
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pay a 60 plus million should the courts decide that it was fair to alter the board. dooley could decide to walk and get paid out. separately we have sources very close to the matter are telling me duly has showed no interest so far either way in getting the ceo job. i am also getting told very few people want to run a company lawyer doug at the red zone families specifically daughter sherry. one of the court hearings counted 22 separate lawyers for the redstone family. that of course is something that nobody is it incoming ceo wants to eventually deal w with tiered charles: not showing interest in the y would that be in the contract in the first place if they had to discuss it some degree? >> exactly. he's been on the board 16 years who were shown great loyalty to the company. that would be tom dooley. he got that in his contract. good for him.
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cbs execs have that in their contract. that's a lot of money. to the people who are supporting him -- the question is what they really want to pay out $60 million not give this guy the job? charles: we'll find out soon. great stuff. thank you very much. donald trump facing donor assistance as he continues his fund-raising or texas today. more on his daughter battles and efforts to win over union workers next. every day you read headlines about businesses being hacked and intellectual property being stolen. that is cyber-crime. and it affects each and every one of us. microsoft created the digital crimes unit to fight cyber-crime. we use the microsoft cloud to visualize information so we can track down the criminals. when it comes to the cloud, trust and security are paramount. we're building what we learn back into the cloud
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kennetthis afternoon closinfor auditions? what's on that piece of paper? oh, miss maroney, your forehead! should not be doing anything. i just had botox. i know exactly what's happening! ah! whoa! this is a bad streaming experience. "the girlie show" is a real fun lady show. (vo) don't let bad streaming ruin a good show. don't look at me! (vo) only verizon has the largest, most reliable 4g lte network. can your network say that? switch now, buy two samsung phones
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and get a free tv, plus up to $650 back. only on america's best network. >> a lifetime with donald trump. i am a realist. i have to go with the best choice. i think he picked a good supreme court justice. i have do stand by and do what i can to help him. charles: that was tony and their backers stanley hubbard. fundraising at this very moment and taxes. john, what was the move there? >> good afternoon, charles. the mood was great. it was very festive. very positive. mr. trump having a one-year anniversary of his campaign.
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no greater place to have it than the state of texas. a very successful evening last night in north texas. he is in south texas. central texas. in terms of san antonio. he will also be in houston this evening. >> you started a company that has become very successful. you have an amazing network of corporate ties. you are the man, so to speak. has it been easy for you? i would like you to compare it to past efforts. have you met to a certain degree with resistance? >> i appreciate the kind words. i certainly am not the man. >> let's talk about the man. the man being the great one. charlie gasparino. i will take a little different
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approach from charlie. a lot of challenges in raising support for mister trump. i have found that to be the opposite. if you go into the traditional rnc donor network, if you will, those that supported resident bush or senator mccain or governor romney, you may not have everybody in that pool that is donating, but, mr. trump has really changed the dynamic. under a lot of new donors that are coming to the party here at just like he brought a lot of new voters to the party. it is different. maybe not the traditional ones, but, you know, even today, there are a lot of folks where the event down in san antonio, mccain backers are hosting that
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event. the event in houston was governor carries backers. they are starting to come together. not getting the hard-core never trump. not going to get the romney folks, but, you know, listen, if they want to win and politics like life is a team sport, and we have to work together to win. they want to cry and take their ball and go home and pout, then, you know, they will not win. just like last night's basketball game. charles: the gop a long time ago. john. thanks a lot. appreciate it. see you again soon. >> thank you. charles: i think some of the gop voters want to do more than just give a technical. thanks a lot. we always kind of know.
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this cycle not all union members seem to be flocking to hillary clinton. andrew sullivan said that trump is making major headwind. andrew, what is the message that donald trump is saying? particularly to members of the union. ignore your bosses and say i am going with this type. >> first of all, thank you for having me, charlie. there is this dramatic drop to trump. employed tens of thousands of union workers. union workers do not forget that. especially new yorkers. i know right now a lot of members are not going by what their leaders are telling them to do. everything that trump is saying, that is all blue collared union speak. they want a wall at the border. they want strict immigration. they want tough dealings
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economically when it comes to these global deals. especially like nafta and fast-track. we know that all of these fields are very empathetic is when it comes to the blue-collar worker. charles: the union bosses have their way of imposing their will on the rank and file members. they take these monies and spend it the way they want to spend it. often times asking how you feel about it. over 90% of this goes to democrats. i think that the last election cycle, they took out loans to back up president obama. just how much independence will the actual union have or does it matter? >> every johnny lunchpail and sally housecoat are all trump. all of those union households in the most reliable voter is an angry voter. they are angry. they will vote with mister
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trump. >> the other part is unions are great for getting out the votes. do you think if they get an order, today we will go out and mobilize the neighborhood. try to push for hillary clinton. do you think that johnny lunchbox is so angry he will say no? i am so angry, forget about it. >> i absolutely bet you that a will. right now, mr. trump has a golden opportunity to and this feud returning the gop and organized labor. if he does that, those blue-collar workers will be his path to the white house. >> higher minimum wage. there are certain parts of the union that don't make construction money. we know that the fdi you has been pushing a higher minimum wage. i do not think that the republicans will go for higher minimum wage and things like that.
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is there ever a way to reconcile the gop push a mark. >> absolutely. i believe that the gop absolutely participated. they would stop concentrating so much on workmen's comp. that is where our margins are getting crushed. everybody runs to workmen.com compensation. that is not where the money is being spent. it is guy rocketing each year. this is where the margins start to shrink. that is why the pressure is on the employees. >> that was great stuff. think the lot. really appreciate it. >> the white house scrambling. elizabeth macdonald on the white house urgent fate to resist. >> this is a top-down move. the reports are out that the white house wants $22 million.
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towards the state review board. the states are the one that get to approve or reject health insurance rate increases. watch this. family foundation came out with saying 11% increases in 13 states and d.c. 11% rate increases for insurers. that is double the growth of last year. what does the white house do. why are they doing this. seeing health insurance go up. a lot of people in this country will get notified. their insurance rates are going up. >> that is that sticker shock. forget about the other stuff. cheap gas. it did not work. it cost so much now. healthcare, it should have been higher. >> here is the play on the part
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of the white house. it will be we try to stop the rate increases. we see that your rates are going up and you are getting notified before the presidential election. basically, acknowledging the underlying economic problems. now, we have some states with just one insurer in there. >> it has been a disaster. the entire russian track and field team is hard from the real olympics. participating and is extremely disappointed. may be the beginning. maybe it's gets worse. more cavuto coast-to-coast next. ♪
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stop taking cialis and get medical help right away. ask your doctor about cialis for daily use. insurance coverage has expanded nationally and you may now be covered. contact your health plan for the latest information. >> i am cheryl casone with your fox business brief. we are live for the estate sale of joan rivers. this, the auctioning starting at about $2200. one of the most expensive pieces. this'll probably go for thousands of dollars. right behind me are the addresses. five-$2000. the estate of joan rivers on sale. actually died two years ago. worth about $152 million.
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this option going through next wednesday. it was tough to part with some of these items. a lot of the money will be going for charity. joan rivers. i am cheryl casone casone. more after the break. ♪
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charles: fannie mae make sure housing borrowers are checked. should it be checking itself out? dagen mcdowell is here. obviously, it is a slap in the face for taxpayers. >> why am i laughing? it is so absurd. is it ever against these government agencies. >> inspector jones report. the house financing agency. oversees fannie mae and freddie mac. the cost of construction of this facility has gone up. in the last year and a half, the cost has gone up to north of $150 million. here are some of the problems.
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the ig report took particular aim at three -right-curly-bracket is on the property. totaling about $15 million. fannie mae saying we will bear the cost to construct that. all told it is going to, fannie mae is arguing that it will top $770 million over 15 years. fannie mae argued back. we are saving taxpayers $330 million over 13 years. here is where it gets real dicey. you will love this mr. payne. the agencies select the more expensive energy efficient elements such as leds instead of for rent that lights. mechanical shades up front while lower energy costs. it costs more money.
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>> a moneymaking machine. following the charlie gasparino shareholders. they will not release it. payback the bailout. such a hunting pot of cash. i do not even know why they are not writing a check for the whole thing it sells. >> arguing the cost of the bridges. >> this is not. why are the taxpayers, where does the revolt? [laughter] this is one of the newest ones. we throw all the money at the screen.
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the officials that spend our money and they are never accountable for anything. >> that is why choose individuals making decisions for themselves. not the government. whether it is healthcare. charles: a lot now about facebook's role in the terror fight. ron johnson telling me he is demanding answers from facebook right now. >> there should not be any prior. searching and how he was using social media. law-enforcement officials, were they aware of this? what did they based on the information they had? charles: he said, you know, facebook was cooperative. they are putting measures in place.
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he wanted to be sensitive to the privacy issues. although -- there is a balancing act here. how we get this information. preventing the measures. >> the bigger question is future terrorist. or people that may commit crimes here in the united states. they spoke at that horrible terror attack in france where that police officer and his partner were killed. the video got taken down in about an hour. facebook is trying to figure out how we track this kind of live activity. i want to point out a story that will make you mad. yesterday, in that testimony that cia chief ran in gave, he confirmed, he did not deny, he
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confirmed the following story. feeding a breeding ground for terrorists. cutting off u.s. intelligence agencies with access to a service. the social media postings. an independent service. 5% owned by twitter. for a couple of years, the intelligence forces right here in the united dates were using it to find unfolding terrorist attacks and weed out potential terrorists. twitter shut it off because they were worried about the optics of it. it was shot off to intelligence communities because they're worried about the way it looks. getting creamed by political correctness. charles: i want to take a quick look at the big ordered.
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>> it is a question of the hour. should they stay or should they go. stocks, a lot of anxiety. some angst about next week's uk vote. european correspondent suzanne lynch. every day we see the pendulum between back and forth. one side you have polls that show momentum for leads. on the other side, well-known betting establishments. gaining a little bit of momentum.
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this is a country very, very divided on the question of eu membership. talking about different people. calming down pretty much 50-50. you are seeing a conflict between two ideas. people are being told there are many, many risks. on the other hand, issues of immigration. it is worth this may be. taking on the economic risk. one will win out in this referendum. changing in the last 24 hours because of the tragic and shocking murder. i think all of the campaigners are taking a step back. campaigning has been effectively canceled for the next few days.
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it is quite difficult to read political implications. murder of another member of our lament. it was avid on the referendum debate. charles: talking about joe cox. a rising superstar. thank you very much. we really appreciate it. thanks. the tan face of it all. the housing crisis. reportedly, he is off the hook. a country not moving ahead. we will have more after this. ♪
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the call just came in. she's about to arrive. and with her, a flood of potential patients. a deluge of digital records. x-rays, mris. ..
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charles: a rocky weekend where does it end? tune in to making money at 6:00 pm eastern time. a lot to go over with.
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here is trish regan taking it to the next hour. trish: 51 state department officials breaking ranks with the president and objecting to the administration's strategy in syria, one of the worst terror hotspots on the planet after the president's own cia director revealed isis is expanding. are we losing the fight? i am trish regan, welcome to "the intelligence report". state officials insist the us needs to lunch military strikes against the syrian regime. the administration has said it won't launch attacks because that would antagonize russia and iran. we are sitting syria out while isis grow stronger because we don't want to make russia and iran mad? this despite news the russia has bombed some cia trained rebels in syria. vladimir putin sums his nose at us again aga

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