starting to ring behind me on new york stock exchange. [closing bell rings] dow loses another 257 points on back of a 600 point loss on friday. david, melissa, over to you. melissa: stocks getting slammed for the second straight session. the dow dropping another 259 points. it was a lot worse than that. i'm melissa francis. david: a lot worse overseas. this is david asman. this is "after the bell." we have you covered on big market movers. here is else we have for you. aftershocks reverberating all over the world after the historic uk vote to leave the european union. we're live in london and britain for an update. will there be chaos in republican convention in cleveland. anti-trump movement sending an advance team to the convention. polls showing donald trump slipping further behind hillary

clinton. erick erickson will join us with his take. new allegations of impropriety and fraud stemming from hillary clinton's time secretary of state. peter schweizer, wrote the book "clinton cash," donald trump is referencing. he will be here live to join us within the hour. melissa: stocks continue to plummet after wiping out record $2 trillion in global equities on friday. dow dropping 260 points today, for a total of 870 points over the past two days. phil flynn of price futures and fox business contributor is watching all the action in oil and gold from the cme. lori rothman on the floor of new york stock exchange. lori, losses began to accelerate this afternoon when s&p cut its debt rating on the uk that was the trigger. reporter: you said it but we came back a little it about, melissa. i saw you did quick addition. 870 points down on the dow in two sessions. could have been a lot worse. 18,000 we were talking about that, but now we're closer to

17,000. still off the february lows. s&p 500 bounced off a very key support level of 1991 at least three times, closing at even 2,000. the vix, the volatility index came in as well. a lot of traders, i don't want to say breathing a sigh of relief. that is too trite. we came back in the last 30 minutes. that is important. look at couple stocks that really suffered today, mcdonald's, credit suisse came out today. macro headwinds increase due to increasing exposure to the uk and european economies for its business. that is a look at mcdonald's. kroger interesting, kroger suing visa that their debit card fees are outrageous. visa was lower by 2.25% in over all market. back to you. david: lori, thank you very much. oil dropping again dropping down 3% to the lowest close in seven weeks. so phil, when we had the

"brexit" that made our dollar stronger which cheapens the price of oil. is that is what is going on here? >> that is a big part of it, dave. you know what? i'll tell you what, you know how bad oil is when you get a very bullish number from a private forecaster says supplies in the key delivery area of cushing, oklahoma fell by 1.3 billion merrill's and oil can't even get a bid off of that. that shows you how much the market changed focus. a few weeks ago it was supply tightening and production in the u.s. going down. now it is about "brexit," "brexit" and more "brexit." i feel sorry for gold today, dave. gold had an identity crisis. it really started to rally strong on a flight to quality thing but it was fighting against the dollar which was also rallying on a fight to -- it didn't know what to it pulled back from its high and strong close for gold. david: one moment where it was negative, where gold actually lost cash but ended up about 7 bucks. phil, thank you very much.

melissa? >> thank you. melissa: the hangover continues wall street selling off following the uk vote to leave th european. now s&p is stripping britain of its aaa credit rating. let's bring in today's panel. scott martin, fox news contributor. john petrides, point view wealth management and scott wren from wells fargo are all with us. scott, let me start with you, what do you think of the downgrade? >> not surprising. take downgrades for what they are, which isn't terribly much. some years ago, u.s. got downgraded and our debt was downgraded and our debt wept up in value. these rating agencies totally blew the financial crisis in 2008. to me i don't think really that is what market reaction is to. if you look financials and other things that tend to be rating agency related to me that it is yield curve. that interest rates around the world are negative or going down

and that is bad for banks. melissa: john what do you think? in all this i think there is opportunity. when i look at currencies, wow, there has to be a big opportunity there? >> this may be contrarian to say, investors should embrace the "brexit" vote because it helped push reset button on market had been a nice trajectory upward since mid-february. you get reset back on opportunities out there, individual stocks where companies trade really cheap cash flow and real great opportunity to buy for the long term. melissa: scott, that is interesting way to look at it. what do you think? do you agree with that? >> melissa, for s&p downgrade, s&p is es abouting. they have nothing solid. if you look back at it, less than a percent away from record high last week. we're 5% lower than where we were before. this happened fast. only 5% pullback. this is buying opportunity. we want to buy large cap u.s.

stocks into weakness. melissa: scoot martin if you had to pick a place where you saw opportunity where would that be? we have become a safe haven in a lot of different ways. >> u.s. is definitely where you want to be. you don't go international. i still think, guys, sounds crazy, stocks are okay but i like bonds. bonds are pretty safe especially given u.s. 10-year is the strongest guy or girl at the beach. that is where i put money if i wanted safe haven. melissa: really? john petrides you think now is time it add to position in bonds? >> no, i wouldn't do that i think you can find large cap big multinationals with big dividends. companies that grow their dividends over time where you are picking up much more yield and stability than you would in the bond market. we have higher margin of safety because of this pullback than you do in the bond market today. >> guys, we're down 1000 points. david: hold on a second, scott. we'll get to real bargains on front lines of today's selloff.

united kingdom banks taking a big hit as investors fear more uncertainly in the market. financial sector seeing steepest two-day drop since 2011. look at that barclays down 20%. john you were talking about getting bargains. is this are with you look? the. >> no, i would let the financial sector, if you're long investor financials could be interesting. interest rates are not goings up anytime soon. european market you will get negative interest rates. i would focus on leisure sector, the cruise lines, the airlines. that to me looks like has been sold off way too much american airlines, carnival cruise, these stocks have been punished way too far. david: as donald trump mentioned the dollar gets stronger you can go overseas more easily and get more for your buck. scott martin, i wonder if bank like barclays or royal bank of scotland could go under, are they in that much danger right

now? >> i don't think right now, david, that there is contagion, party risk swimming around in the 2007 and 8 period. don't forget, takes outflows and disinterested investors or borrow es to leave a bank. that is something money can do on a whim. yes, that is something to keep in mind going forward. this is more issue getting used to what the new eu looks like. and new uk looks like and to me that is not a great place. david: it will change a lot in the coming years. scott wren, as banks get hit and some might go under, could it be the central banks of europe become lenders of last resort? if that happens, banks are holding awful stocks and bonds, some of which could drag it down? >> david, they would do that and i think they may have to in this particular case. we aren't there yet but certainly a bad idea for investors to step into these european banks right now.

we're even weight financials. as i think john said, interest rates are not going up anytime soon. global economy is not going to accelerate. financials, you shouldn't be looking for spots to get overweight or catch a falling knife. david: fitch is right with you. they downgraded the bank of england, the central bank of england. times will be tough. times are really going to get rough. fasten your seatbelts. melissa? melissa: flip side of that equation is u.s. airline stocks hitting new lows as investors worry about how the uk decision will impact transatlantic travel. scott martin, explain this to me. are people going to be flying a whole bunch less now? i don't get the logic necessarily? >> that is the beauty of the market, melissa. you get these areas that seemingly were distracted or disconnected rather from this big move in britain and then it is going to affect everything. in general there there will be e

sort of malaise that will wash over the eu. that may extrapolate people wouldn't travel as much or spend as much money. leisure exposure, in europe will especially bounce back especially if the euro is weak. melissa: john, let me throw stats to you. 16.2% of american's capacity touches you can, 5.3% for united, 2.7% delta. that is all that even touches it. even hammering those would assume that people are going to travel less as a result of this. what are you pricing in? an enormous economic slowdown? i don't know. seems like there is opportunity in there. >> you're right. i thought airlines were attractive industry to invest in prior tobrex system oil was rising. there was gasoline sensitivity there which brought the price of these stocks down. plus you have the zika virus and, throw in the "brexit." market requiring to translate what currency means to earning

but way too attractive from valuation standpoint. melissa: scott wren, what do you think? >> i think they have always been trading stocks and not investments for the long term. i think there is plenty of opportunities to trade airline stocks. i would be looking at those technicals. melissa: scott martin, i can't remember the last time i got an an airplane there was empty seat anywhere. seems like these guys are at the very least on top of their game because they're filling to capacity. i mean maybe you could say pause there are some people in the airports all the time they could be running more flights and making more money. i don't know if the math works on that. seems like they're kind of doing a lot right right now. >> yeah and nor do you get a lot on your flight either, so profit margins in stuff they don't give you think more. i agree. i think airlines are running business well. don't forget impact of commodity prices especially crude oil f that falls that tends to help airline profits. >> gentlemen, thank you very much. >> thanks, melissa, good discussion. melissa: happy birthday, scott martin. sorry for that. scott martin's birthday.

david: forget the "brexit." all about scott martin. beginning to lay groundwork for leaving the european union. outgoing prime minister david cameron speaking to the british parliament earlier. saying move will be difficult and involving a lot of adjustments within the economy. fox business's team coverage of the decision. ashley webster on the ground in london and adam shapiro is in berlin. let's begin with ashley. go ahead, ash. reporter: yes, david, in fact, david cameron saying it wasn't what he believes to be the best outcome for the country but in parliament today he said that vote has to be respected and implemented. problem it appears the leave campaign didn't have a plan. about, they didn't have a plan a. there is a real political vacuum in westminster right now. many questions who will indeed negotiate the uk's out of the eu. that is the big question. earlier today, also john kerry, secretary of state, came to

london after visiting brussels and talking with eu officials there. he met with phillip hammond, the foreign secretary of the uk. he told them the special relationship is still very much alive and that the uk will play a key role with the united states in europe. take a listen. >> i personally will regret that britain is not going to be at the table when there is a u.s.-eu dialogue but i have no doubt that britain will be weighing in with us and critically involved with us on every single issue. reporter: certainly there is other talk, david, of perhaps a second referendum. that is just sour grapes from those that i think lost the first referendum. all sorts of rumors out there but bottom line it has been done. david cameron himself said prior to the vote, this is it. you jump out of the plane, you can't climb back into the cockpit. so we are facing a very messy divorce from a relationship frankly that was never really friendly over the last 40 years.

i think the eu leaders on the continent very nervous there could be contagion because other countries are saying you know what? that might be a good idea. see. back to you. david: we hear talk about regret-ixit you discount that. >> i do. melissa: you just wanted to say that. german chancellor angela merkel calling for unified european union today following her meeting with top european leaders hours ago. adam shapiro is on the ground in berlin with the very latest, adam. merkel emphasized there will be no formal exit talks until the uk makes it official and invoke that article 5089. reporter: yes they have to ask for the divorce essentially and let the european council, let the european union know they want out as if everyone doesn't know they want out but here's the deal. i think it was scott martin in the last ten minutes said what the new europe will look like.

well you saw a little bit of it today. angela merkel with two other largest economies now that the e.u. will not be number two. france and hollande was there and mr. renzi, italy was there. they want a quick divorce and process sped up and done with. merkel has been what you might call the voice of calm even though she says there are consequences for the uk, she said there are consequences for everybody. she also went on to say they would probably have a bit of time and hollande agreed, that september would be the time frame by which the eu would want to know what the uk intends to do to begin negotiations which have to conclude within two years for the actual divorce. so that meeting today was taking lace in preparation for tuesday and wednesday in brussels. eu leaders are gathering in brussels. they will have a big meeting on wednesday. and that's where that issue you were just touching upon, possible contagion. there is potential for

"brexit"-like discussion in the netherlands and as well as in france. that is what they're trying to cope with and put a stop to. back to you. >> very complicated. adam shapiro, thank you so much. david? david: a lot of people were betting big on the british exit. it paid off for one of those investors. george soros and other gold bug, billionaire investor recently disclose ad 19 million-dollar stake in world's largest gold producer barrick gold, up 22% this month as people flock to the metal for safety. soros spokespeople claim that the he did not short the british pound before the vote, despite his negative remarks about it early next week. i don't know if there is any way you can prove that one way or the other. melissa: dire warnings from the rio governor. why he says next month's olympics may be a big fat failure. david: you scratch my back, i will scratch yours. new reports of impropriety and fraud stemming from hillary

clinton's time as secretary of state. coming up, peter schweizer, he is the author of "clinton cash," gives us his take. melissa: the never trump group not backing down. they are planning to stop trump's nomination in the convention in three weeks as more of the republican establishment decides to sit this one out. erick erickson will weigh in. >> i left it for the same reason i joined it in 1964 when i voted for barry goldwater. i joined it because i was conservative. i leave for the same reason, because i'm a conservative.

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melissa: a sharp shift on the campaign trail. hillary clinton gaining ground on donald trump leading presumptive gop nominee by 12 points, according to new "abc/washington post poll. former secretary of state only

leads trump by five percentage points according to new "wall street journal/nbc" poll. jeff flock live in chicago where clinton wrapped up peach. what is the news there? reporter: rainbow/p.u.s.h. women's lunch going behind me. no matter how you cut it for hillary clinton and polls, she campaigned today both in cincinnati as well as here in chicago. cheered bit deep dive into the numbers into the polls which found, according to the our read of it, 2/3 of people in the "abc news/washington post poll" found donald trump unqualified. said they were anxious about him. his comments about women and muslims and minorities showed unfair bias. at same time majority disapproved how clinton has been handling questions about her personal server while at the state department. she went about as for as she has so far today, melissa,

acknowledging the trust issues that her campaign has. >> a lot of people tell pollsters they don't trust me. now i don't like hearing that. yes, i could say that the reason i sometimes sound careful with my words is not that i'm hiding something, it is just that i'm careful with my words. reporter: in addition, trump will be campaigning also in the midwest this week in pennsylvania and in ohio tomorrow. the poll also finding a third of gop voters and gop leaners say they don't find trump qualified. so the problem is not so much just with the electorate in general but even in his own party. not good numbers for donald trump, melissa. melissa: all right. thank you so much for that. david: well the olympics are only five weeks away and there are still a lot of concerns whether rio de janeiro will be ready for them. the state's acting governor warning, the games may be a quote, big failure. the governor says he is worried

about security and mobility. the subway line, for example, the main venue still isn't finished. there is dwindling gas money for police patrols because there is a lot of crime down there. he says the state is waiting for 860 million-dollars payout from a federal government. but that federal government is practically bankrupt, melissa. melissa: wow. david: tough one. melissa: all right, the grand old divide is still standing. why republican donors are not handing over the dough to presumptive nominees. david: oh, boy, they have to figure that out. horrendous flooding in west virginia. deadly flooding. now the region bracing for even more rainfall. >> you see stuff like this happen all the time and never think it can happen to you. you thank god that your family is alive. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be.

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david: stocks getting slammed for the second straight session. dow dropping 870 points since the "brexit" vote on friday. liz claman on floor of new york stock exchange. talking to traders all day. don't get the sense. know 260 points ain't good but i didn't get a sense there was panic down there. >> not at all, you're absolutely right. i was trying to grab traders what about tomorrow. liz, get away with me. i'm done with you. i want to go home. this has been a tough two days as we showed you. a big chunk been knocked off the markets. however completely orderly down here at new york stock exchange. levels of sep 500, said three

times today, we hit the 1991 floor. closed above it atthousand. they feel, the -- 2,000. the one that wouldn't shove me out of his way, liz, we're setting up for rally. it looks like that, it looks like that but may take a day or two or three to look through that what particularly got hard. talked a lot about the financials. they have been ugly trades for entire year. look at so-called consumer discretionary names. toothpaste or shampoo. these are coaches and kors and tiffany's of the world. they got hit outsized way. down 2% for michael kors. tiffany down before that. that was new annual low. i believe airlines were also in trouble too because some of them have major exposure to the united kingdom. we thought, well let look at company that build planes for airline.

two-day chart for bowing. it has been two ugly sessions for boeing. another 3.80. annual lie is 150, david. some might say that is buying opportunity. david: good point. liz claman. melissa. melissa: gop donors sitting on sidelines. thousand of donors contribute to past republican presidential candidates have not donated to donald trump's campaign or pro-trump committees. this is according to "usa today." near is noelle nikpour, gop fund-raiser, ellis henican, news day columnist. thanks to both of you for joining us. noelle, you hear it both ways depending who you're talking to. he is having a hard time raising money, he is having a hard time. what is the truth? >> he is having a hard time raising money. look at reports. with that said there has been a pickup. i noticed that woody johnson -- melissa: republican donor. >> major republican donor, he was major team jeb bush when you walked into his office, he had a

huge jeb sign. he did a breakfast last week in the wednesday morning for donald trump. but noticed, i noticed that the ticket price, 500, 1,000, 5400 which tells me is really wanting to get people in at all levels. melissa: that is low. you're saying that is low? that is cheap. okay. eric trump obviously singing a different tune. listen to what he said. i will get you a different reaction. >> money is flying in. people are excited. amazing people talk about small donations but amount of small donations we're getting online is astronomical. melissa: he will is, that is different way to do that ticket prices is lower. but that is small donations. everybody is getting in there. one of the big problems you have to court people and you have to ask and he kind of just started doing that, right? >> that is right. donors want to be seduced that process has barely begun. but the other thing i think, a lot of these folks don't think he can win. if you will give big campaign

contributions it is money down the drain to give to losers. you want to give to the guy who can return the favor to get into office. that judgment is being made pretty broadly across the gop donor class. melissa: noelle, is that the problem? to get people to really feel like, other people are going to give, plus he has money. maybe he could do it. is that part of the problem. he talks so much about not needing money now that he asks for it? >> you can look at it two ways. number one he made the campaign -- lo he won the primary with half the big bank account the big cats had. scott walker started off with a lot. jeb bush was a huge machine. donald trump beat them all out in the primary by nod spending any money. he did it in the primary. can he do it in the general. he is getting a lot of tv time. he is in the news all the time. it is about getting your message and brand out. he is doing that that is why you raise money for the ads. where it will hurt is the rnc. these donors are not giving as

big as they did to the rnc. that will hurt a lot of other campaigns, not just trump. melissa: ellis, what about clinton side. she has more money than god. >> she has a lot of money. melissa: she is a atm machine. clintons know how to create money flowing in every direction. what is it she doing with her money that donald trump is missing out on because he doesn't have money. >> what she is spending it on? creating every single swing state. people on the ground, advertising, top people in there trying to get your votes. trump approach, really, it worked beautifully in the primary. god bless him if he thinks it will work again in the general. send out a lost -- lot of tweets. free form stream of consciousness gathering. >> you say she is getting people on the ground. you say ads he get as ton of tv time. >> it is different. tv time is not all flattering. a lot of people look at rallies, what a dope. this is not the same as having a

well thought-out media campaign. that is how the media make as living. let's be honest about it. melissa: noelle, i don't want to trash talk ads because they pay my salary. let me make it very clear right now but do ads work the way they did. a lot of people skip ads. they look at content inside of a show and look at analysis of people not being paid by campaign as opposed to ads, because they know they're paid for by the campaign. >> i still think a lot of people love the hillary clinton and those trump ads. a lot of people never thought trump drum would be our nominee and here he is. they're fascinating by this whole race. someone will write a very big book about the race. melissa: many books. david: did i hear ellis say god bless donald trump? i think i did. leaders of never trump movement are sending a prep team to get a start blocking trump for

nomination this is according to "politico." this is erick erickson. a leading voice of against the trump campaign and editor of the resurgent and are you part of the campaign going there early? >> no, i'm not a delegate. these are mostly delegates who are going. i will be there before the convention starts. the rules committee meets a week before the convention. a lot of these folks are going slightly before that to start lobbying the rules committee. david: who is behind it? is it bill krystal or karl rove, here. >> that is fascinating part. a bunch groups formed in the states. virginia delegates, colorado delegates, michigan delegates, ohio delegates. they have grown organically. they are starting to talk to each other. there hasn't been a leader per se of the effort. it has been groups coming together organically. david: comes on heels of couple of successes for donald, poll numbers don't look good for him.

those are looking in rear view mirror, when he was talking about the so-called mexican judge and other things that hurt him badly. on friday he, his timing was impeccable. before the president could seek, before hillary clinton could send out these sort of meaningless tweets, there you had donald trump in scotland. >> right. opening up golf course. david: exactly why the british people voted against european union. i think he did a pretty good job. don't you? >> you know i think he spent too much time talking about his golf course actually. david: oh, please, eric, wouldn't expect that out of you. he made one brief, silly mention of it. that was it. >> he spent most of his time on the golf course meeting one-on-one with the press who were trying to drill him on "brexit" and he wanted to talk about golf. david: erick, that is not true. he spoke very, at great length about what "brexit" was, what it meant. yes he was there for his kids to sell the golf course. >> right. david: but he did speak before

the president, before hillary clinton about why he british people did what they did. >> yes he did. david: and i think he gave a pretty good explanation. >> but here is the problem. i don't know that an election in britain on a national referendum actually imposes anything on the united states. commentators say hillary clinton needs to do this now or donald trump needs to do this it is very american for us to look at british election to say this will impact our election. i'm not so sure that it will. david: one thing i don't think will impact the election is george will's announcement he will leave the gop. do you think that will have any effect on anything? >> no. remember, george is a friend of mine. he didn't vote for ken cuccinelli in virginia cube gubernatorial race in 2015. he didn't vote for trump. i will not vote for trump. what matters 30% of the republicans saying they don't want to vote for him and 77% of the women saying they don't want to vote for him. he has a lot of upside. david: by the way are you

willing to go one step further as some republicans like hank paulson has you would rather have hillary clinton in the white house -- >> , dear god, no. i would rather have botulism than either one in the white house. david: we'll leave it at that erick erickson. melissa: very colorful. i like that. the uk vote shocking the globe but what happens next. a former ambassador here to weigh in. deadly fires working across acres in california. >> i have never seen anything like this in my entire life. you see it on tv. you see floods and stuff but fire take out a whole neighborhood? this is crazy.

melissa: millions of people bracing for more dangerous weather in west virginia where floodwaters have killed at least 23 people. weather service issuing severe warnings across the state. fox news's garrett 10 any live

in clendenin, west virginia, with the latest. garrett? reporter: melissa, we're here outside of the advent christian church in clendenin. this is lot what was inside when flooding covered this entire area within 10 feet. you can see their oven, the refrigerator, their tables, their counters, completely devastated. this is what we're seeing all across this town as well as many other areas in west virginia. look at this picture. this was just a few days ago when this entire area was covered by the elk river when it reached 14 feet over flood stage. now, folks, a lot of them were at home. i want to introduce you to one of them. lisa rollins. she is like some others. she couldn't get out. she had to move up into the second floor. she had to move up into the attic. all she had with her two dogs

and she took ironing board and to have something to sit on. she called for seven hours, 911 waiting to see if anyone would come and rescue them. >> when you're sitting in attic and watching water rise and can go no farther and get out it is absolutely gut-wrenching. i counted my blessings every five minutes. i probably talked more to god in the loose two days than i have in the last 45, 46 years. reporter: lisa, like some people here, majority of them do not have flood insurance which will only make the recovery effort that much more difficult. the governor was here a couple hours ago. he told us this area was already struggling economically due to the depression and he said, this is not going to help because these small businesses, really what was keeping this area alive. so many of those, they will have

to decide they are going to rebuild now. melissa: garrett, amazing story. really heartwrenching. thank you so much for that. david: you think you have problems, listen to her story. wildfires continue to rage in california. at least two people are dead and over 60,000-acres are scorched. more than 4,000 firefighters are battling six blazes. battle from the northern california to the mexican border near san diego. melissa: amazing. all right, the voting is finished and the uk has decided but what happens next? two former u.s. ambassadors to the eu, kristin silverburg is here, with the next steps for the u.k. sorry about that. we garbled that introduction to you. we appreciate you coming on. what happens next? there is so much talk about the idea that now there are no trade agreements in place. that the uk basically has to hammer out new trade agreements with everybody, or abide bit wto rules which are onerous in and

of themselves? where do you go from here? >> the first step for the conservative party to elect a new leader sometimes before the party conference in october. that person is likely to go to the parliament to k fo support invoking article 50 which of course is the provision of the lisbon treaty that governs withdrawals from the european union. a majority of mps support remaining in the european union. that could be very interesting debate politically. that will kick off a two-year negotiation with the eu over terms of uk withdrawal. at some point in the process the uk will start negotiating with the eu over the terms of its new relationship. which won't even get to the question of what that relationship starting to look like for sometime. there will be extended period of uncertainty for the uk's economy and possibly for our own. melissa: so that, i mean that is what happens between the uk and the eu. but what about thetic and rest of the world as they're not part

of the eu? >> depends in part what relationship they negotiate with the eu. so one option is the norwegian model which gives them access to eu single market and lots of other things but but it requires their agreement to open immigration from the eu. alternatively, if they go with something like a free-trade agreement with the eu, they would be forced to separately negotiate free-trade agreements with everyone else, with the u.s. possibly, with canada, australia, china, india, and so on. melissa: right. >> in part it depends what arrangement they work out with the eu of the as i say we'll not get to that negotiation for some time. melissa: there are people around the world, whether in the uk or outside will say, oh, my good ness this is disaster and some say there is a good opportunity here. kt mcfarland says this is chance

for the u.s. to step up to say, let's form a even closer relationship. let's move together in this process. we want to be there for you and easier for you, to really step in, as opposed to before president obama stood at the news conference said you will have to get in the back of the queue, now since it happened isn't there opportunity for america to forge a very powerful alliance with our most natural ally? >> i think we should do that absolutely. that is very important especially in light of the financial services relationship between the u.s. and the uk. i think it is really important we insure that we have very close trade investment relationship with them. but, i think we have to be realistic about the costs we're paying as well. we are going to miss the uk's voice in brussels, there is no question about it, on issues where we were relying on kind of strong uk advocacy like the iran sanctions, for example. we won't have the uk as an ally

anymore. on some regulatory and economic questions they were among our most like-minded in terms of making brussels, sort of more classically liberal, more free market. and so i think we'll have to be realistic about the fact that the debate in brussels is going to be tougher on us without the uk there. melissa: interesting point of view. kristin, thank you so much, ambassador. we appreciate your time. david? david: the more you hair about this the more you hear how many bureaucrats there are in europe involved with eu. you can understand why perhaps the brits got out of it. donald trump stepping up attacks against hillary clinton. he is referencing one book in particular, the author of that book, peter schweizer,'s "clinton cash." joins us next. ong kong, to visit this company that makes smart phones, used by this vice president,

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melissa: we have breaking news right now. sources to reuters say the volkswagen u.s. diesel emissions settlement you remember that will reach nearly $15 billion. the deadline to officially announce the settlement is tomorrow. keep an eye on that. david. david: interesting agreement. meanwhile donald trump's attacks against hillary clinton oven refer to hillary clinton's conflicts when she was secretary of state. joining me peter schweizer, author of the book "clinton cash." i guess any pubty is good publicity unless they get the name right of the book, peter. let's get to the heart of the issue. it vols something actually hillary clinton was involved with when she was secretary of state, she kind of codified rules against bribery, the oecd, one of these international rules committee, put together that --

against bribery. i will quote from that she kind of laid the groundwork or they said, individuals and companies can be prosecuted when third parties are involved in bribe transactions including a family member, business partner, or, a favorite charity of the official. of course we all know about the clinton foundation. did hillary clinton, according to you now, and work you've done, did she ever use her influence as secretary of state to favor a family member or a favorite charity? >> oh, i think there is no question that there were entities that donated to the clinton foundation and hillary clinton ended up taking positions that were beneficial to those people. david: what is the most, give us a specific here. what is the most troubling example of that that you found? >> yeah. i david, i would say of course the pattern itself is troubling. that there are just too many cases not to be coincidences. the most startling is the russian uranium deal where bill and hillary clinton help ad

small group of canadian investors obtain these lucrative uranium concessions. they acquired uranium concessions in united states. these canadian investors wanted to sell their company to the russian government which required hillary clinton's state department to sign off on that deal. and the clinton foundation got $145 million from nine shareholders involved with that company. that i think demands investigation. david: other news organizations have used your book, kind of as a guide, as a map, if you will to look into investigations on their own. one found that the clinton foundation had actually had a swedish, sort of version of the clinton foundation even the irs didn't know about. at one point the swedish lottery contributed about $20 million to that branch of the clinton foundation. at the same time that the secretary of state was investigating some swedish companies that were dealing illegally with iran. is that another example that

bothers you? >> that's a great example. you can add to that, by the way, that the swedish telecom company that was the heart of that investigation, erickson, paid bill clinton at the time the investigation was going on, $750,000 for a single speech. mind you, dade, they have never sponsored a speech by bill clinton before. they weren't interested. now they did. seven days after he got paid, hillary clinton's state department issued a statement said we'll ask the company to police themselves. we'll not take further action. david: you as you well know are in the cross-hairs of mainstream media says a lot of details in the book are either wrong or discredited. donald trump has been using your book, announcing that he is using your book to go after hillary. one of his charges he announced last week, and i'm going to quote from it. he said as secretary of state hillary clinton lawn dered money to bill clinton through lawyer rhett education, a for-profit

education group while bill clinton was honorary chairman of the group. clinton's state department provided $55.2 million in grants to laureate from 2010 to 2012. laureate thanked bill for providing unbelievable access to the secretary of state paying him off $16.5 million. "the washington post" looked into all the charges, gave it four pinocchios, they couldn't find any truth to it. there were a lot of facts wrong about what donald trump said. who is right in this, donald trump or "the washington post"? >> well, i could tell you what we reported and that is that the state department sent $55 million, not necessarily to the laureate education but to a non-profit that was run by the chairman of laureate, a guy named doug becker. that non-profit that got the state department money was running programs through his for-profit and that bill clinton at this time was being paid $16.5 million. so there is no question about

the flow of money, who was getting money, when they were getting money. you know it is kind of funny because "the washington post" in their fact check says at one point they even went to the clinton foundation and they went to laureate to see if there was anything to this story as if those two entities will say of course there is, this is what happened. in terms of flow of money. david: very quickly, peter we're running out of time. >> "the washington post" confirms all the flow of money. david: peter schweizer, author of clinton cash, a book you might want to pick up and read. thank you very much for being here. appreciate it. melissa: time to celebrate more than just a golf tournament. billy hurlry shocking the crowd with his pga tour win. you have to hear this story.

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melissa: this is amazing and scary story.

naval academy grad, billy hurry earns his first pga win. bully hurley. david: he ranked 607th in the world. that was 15th hole. he have went on to win 1 to in$24 million. had a tough year. melissa: never won money before. amazing. "risk & reward." take it away. >> the establishment not just conservative and labour parties in britain. not just the bank of england but president obama, the imf, the oecd. everyone telling us dreadful things would happen to us if we independent did stay part of a political union in brussels, the little people, ordinary people, decent people said no. to be honest i am so happy i can scarcely believe it. deidre: british conservative leader nigel