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tv   After the Bell  FOX Business  May 22, 2018 4:00pm-5:00pm EDT

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we've been friends a long time. good to see you. wish it were on a better day for the bulls. [closing bell rings] stocks ending near the lows of the session. the first down day for the dow jones out of three. that will do it for the "claman countdown." i will send it to "after the bell." david: return of very tough talk from president trump on china trade weighed on investors. the dow ending the day down about 178 points, near session lows. s&p 500, nasdaq also closing in negative territory. and the russell 2000 is in the red. which snaps a four-day record streak at that index. i'm david asman. glad you could join us. melissa: rhyme melissa francis. this is "after the bell." we have more on big market movers. this is what else we're covering in this very busy hour. setting the record straight, president trump sounding off this afternoon about status of on going trade talks with china and on going deal to lift sanctions on chinese telecom
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company zte. the president casting doubt on next month's historic meeting with north korean leader kim jong-un. why he says it may not happen three weeks from now. a group of house republicans calling for the attorney general to appoint another special counsel to investigate allegations of bias and abuse at the very top of the justice department. louie gohmert of texas among the congressman leading the charge. he will join us coming up. with us this hour, former federal prosecutor andrew mccarthy and james freeman, assistant editor of "the wall street journal" editorial page. david: that is a lineup i would like to see. the market falling more than 150 points. 178 it is settling in. shares of boeing and caterpillar weighing on the market. nicole pettalides on the floor of the new york stock exchange. i believe it is about trade. is that what you're hearing? >> it is always part of it. we had headlines whether or not
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we're talking to north korea. heat build up with china a little bit. the dow finish the down 3/4 of 1%, off the lows. had been down over 200. you can see selling across the board. as we showed the dow components, those laggards, a lot of industrials, which you mentioned, dave, such as boeing and also caterpillar, they're is a look. home depot down, dupont, 3m among other laggard. retail is really big story this week in particular. so far we're watching some of these. we look at autozone and advanced auto parts. autozone talked about higher costs for labor. after the quarterly numbers down 9 1/2% for autozone. that is laggard for s&p 500. look at rest of retailers, tj maxx, parent, tjx. up 3.3%. kohl's despite a beat. all of them are to the downside. nordstrom, jcpenney, and jcpenney has a story in its own,
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ceo marvin ellison is leaving. he is going over to loews. stock is down 6%. a quick piece of news right out of the new york stock exchange. a new president entering the helm there. that is stacy cunningham. she is the first female president of the new york stock exchange. 226 years. she is the -- 67th president. she will take over friday. she started a long time ago in 1994 down here. david: good for her. nicole, thank you very much. melissa. melissa: president trump saying he is not satisfied with recent trade talks between the u.s. and china. the president is responding to conflicting reports of a deal to lift sanctions on the chinese telecom company zte. he wardlaw recognize is following back and forth from washington. where do we stand with things right now? >> melissa, the president says he is unhappy with the framework announced for that china trade deal. the president saying that the
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framework, that the final deal will look very different from the framework. there is a also a long way to go with this. not talked about during trade talks last week, survival of zte, the chinese telecommunications firm. the u.s. slapped $1.2 billion in sanctions and banned u.s. technology going to the company for seven years because they sold u.s. technology to iran and north korea and then lied about it. president says that president xi asked him to look into this and he says as a personal favor he would look into the enforcement action but the president says, the company has to change. >> i envision a very large fine of more than a billion dollars. could be a billion three. i envision new management, a new board and very, very strict security rules. and i also envision that they will have to buy a big percentage of their parts and equipment from american companies. >> so the commerce secretary
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says enforcement actions and trade agreements are two very different things. the president can't just make an enforcement action go away. still democrats say they are worried. >> i am really concerned about the president's hemming and hawing over the last few days when it comes to china. i'm worried that president xi is crafting a much better deal than president trump. reporter: but the chinese, they took some action today. they actually lowered tariffs on automobiles coming into china. they went from 25% to 15%. they also standardized tariff for auto parts at 6%. it had fluctuated between 6 and 25%. possibly a good gesture a good-faith gesture with the talks that continue next week. melissa? melissa: edward, thank you so much. let's bring in today's panel. we have gary kaltbaum, from kaltbaum capital management, a fox news contributor, lenore hawkins, from thematic can
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research and james freeman, from "the wall street journal" he is also a fox news contributor. i have to say that i felt completely vindicated about the idea, i always said the connection, david, too, between china trade and north korea existed. here is what president trump had to say earlier today. >> when i'm dealing on trade, i have many other things in mind also. when i think of trade with china, i'm also thinking about what they're doing to help us with peace. with north korea. melissa: james freeman, do you feel like david and i are completely vindicated and now have a track record to be right about everything forever? >> i think you have always been right about everything forever. melissa: thank you. [laughter]. david: only one answer. >> don't know if that is news but you do have to kind of wonder, if he is saying that the trade deal is linked to north korea and maybe this is why investors are a little concerned, at the same press conference he is suggesting
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maybe nothing is happening on north korea. maybe north korea is misleading us again, to say it politely and nothing will come of, does the president then turn around, say, hey, i want a better trade deal especially since some people said it wasn't the best he could have done letting this rogue outfit zte get off with something less than a death sentence. melissa: lenore, wasn't he saying china, i will hit you over the head on trade and if you don't get north korea to the deal and you are blowing up minority cree deal and i don't like it? that is the rough interpretation i got from the statement. >> i think you're right but he is also having to step back quite a bit because we had recently fbi director christopher wray talking about his concerns not citing zte specifically but citing any company largely backed with a government that does not align with our values and our priorities. having them access to our
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telecom infrastructure, that would be. his concern that could allow for undetectable espionage. very nervous when he saw trump tweeting out about zte last week, i don't really see our national security being something we ought to bargain with. melissa: gary, i kind of thought he would never let zte off the hook. that was sort of a bait, carrot situation, that we would never fully go for that. what do you think? >> i think everything is on the table at this point in time to get a deal. i think by him mentioning north korea, north korea can put the screws, excuse me, china can put the screws to north korea and really get north korea bowing down to what we need. as far as zte, look i'm just plain confused. the commerce department put something on them and now trump wants to back it off. so you can see both republicans and democrats are against what they're trying to do but i get it. i think trade is part of all of this and with the zte, it really
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does affect a bunch of u.s. companies. melissa: yeah, james, i don't feel like zte will get off the hook and get free rein. that seems like a bargaining position. >> could be. in his defense a lot of tariffs are not happening is great. it is great for us as consumers, great for us as exporters. if they really mean it and they're lowering barriers to our products going in there, that would be good. would you like to see improvement on the techside including with zte, though. melissa: lenore, do you think that is possible? >> i think we have a long road ahead of us. melissa: yeah. >> i think part of problem here was jumping ahead of gun thinking, oh, north korea will meet. i'm sure that will go great because north korea has a track record living up to its word. china, that will go really well, china has a history of bowing to america's desires. i think at end. day we'll get there. it will be a bumpy, long road. the market is nervous, because we keep getting conflicting
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reports. one day it is all good. the next day it is not. that makes every one a little bit nervous. melissa: that is how deals always go. it is on, it is off. then you just have to stay steady. thank you, guys. david. david: congressman barry loudermilk from the house financial services committee. congressman, let's talk about trade. we were talking about bank deregulation as well. you are about to vote on that. we have to remember how we got here. i went back to january 2017 just before the president was inaugurated, there was a spease in market watch, obama for years turning a blind eye what was happening with china. they're stealing our trade secrets. they're doing all kinds of things in terms of sponges and terrorists that were unacceptable. it couldn't go on any longer, right? >> right. one thing you have to realize, trump is a negotiator.
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the difference you see with the president is is negotiating out in public. you can't deny we're beginning to see results. i grew up in the construction industry. i understand construction people. if you want to get to the moon you shoot for mars. you really push hard for what you want. all of a sudden you may do a 180 turn to check your opponent to see where they are. maybe folks are getting used to his negotiating tactics which are for the most part being very successful. david: you bring up a great point, it does come with the territory that he came from but i'm looking spif at zte. this was not only a company that was stealing our intellectual property, but it was also trading with our enemies. trading with iran. the sanctions were there for reason. do they really deserve a second chance, even with a $1.3 billion fine? >> if you look at what the president is proposing he is saying look, we may consider this, if you get a new board of directors. basically he is dictating to
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them what you're going to do. paying a fine, new board of directors and with oversight possibly something we can do. north korea is the real prize here. every one understands china is the one going to make-or-break a deal there. his hard-line on north korea and his hard-line on china brought them to the table on more things than we ever -- david: we heard today, he announced one reason they are now balking north koreans, some. details of summit might be because the chinese told them too. look you chinese folks you invited the north korean leader to china. you talk to him. then he began giving us summit on this summit, you better shape up. >> this is the type of rhetoric you may say you get from the white house. look, one thing people are going to have to understand, he is going to negotiate, he is going to negotiate hard and do it in the public sphere. david: yeah. >> so i think the markets will have to stablize a little bit. look, computer trading has things more volatile but they
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recover quicker now. people are more sensitive. i think once they settle in and realize look, there will be tough talk on tariffs. he will back off as a result of his conversations. david: congressman, i have to ask you real quickly because we're running out of time. the banking regulation senate voted in favor of it. the house is about to this evening. critics say as you know it will lead to more consumer problems, more ponzi schemes that could lead to another financial crisis to which you say what? >> i say that is so far from the truth this helps the small guy, the small banks, credit unions devastated by dodd-frank. georgia lost more banks than any other states in the nation. we still have counties that don't have a bank branch. because they have been unable to recover and build new banks. this will provide significant regulatory relief for dodd-frank, which was designed for really large banks yet it applied across the board.
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i think you will see banks meet the needs of their customers now which they haven't been able to since dodd-frank. david: particularly the small ones, they have been going through a tough time. barry loudermilk, good to see you. >> thanks, david. melissa: historic talks between president trump and north korea's kim jong-un may not happen next month as scheduled. the president is suggesting that china might be to blame. live report from the white house, where things stand right now. david: president responding to reports of a potential fbi informant in his campaign. this as one of his campaign aides charges it wasn't just the fbi but there were multiple agencies and multiple informants working to entrap team trump. we'll speak with federal prosecutor andrew mccarthy about these latest accusations. >> a group of house republicans calling for the attorney general to appoint another special counsel to investigate allegations of bias and abuse at the very top of the justice department. louie gohmert of texas among the congressman leading the charge
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melissa: a special prosecutor to investigate the special prosecutor? my next guest along with 11 colleagues lookings for a investigation into the mueller probe suggesting the bias runs deep. >> making sure the public knew this was a just and proper action he would have gone out of his way to hire people who were not connected to the clintons, to the democratic party. that way people would know that
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is is a just an fair action. melissa: congressman louie gohmert is with us now. a lot of people in our audience understand your frustration but does it make sense to call this before the outcome of the special prosecutor? >> there were potential crimes committed by rosenstein, by mueller, by weissmann, they were part of russian original uranium investigation. they knew russia was attempting illegally to get potential of our uranium. they had a person inside of the operation helping them establish a case but rather than make a case, they squelched everything and that was when hillary clinton was trying to get approval and the counsel on foreign investments for the u.s.
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cfius, had to give approval of sale of our uranium or the sale doesn't go through. if the sale doesn't go through, $145 million doesn't appear in the clinton foundation covers, along with the clintons being enriched in apparent other ways. really they did the unthinkable, basically their informant to sign a non-disclosure agreement. those were people that should have been the last possible people in line to investigate anything to do with russia and the trump campaign because they had to keep the statute of limitations on themselves. melissa: okay but does putting another special prosecutor in place, does that solve that problem? because we're kind of proving that, you know, by virtue of putting somebody in this position of investigationing that it doesn't, you know, necessarily have the best investigation and best outcome?
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>> that is because of who was put in place. rosenstein and mueller, if they had any ethical aspect to them at all, they would have said, rosenstein would have said, look, i've been going before the going before the fisa court and agreeing to look for things that were a fraud on the court. i'm not a good person to appoint a special counsel. they should never have been. there are potential crimes that may have occurred. unlike investigating the trump campaign where they couldn't specify a particular crime that may have occurred, there are specific criminal offenseses that appear to at least be worth investigating -- melissa: but before we run out of time, i want to ask you, there doesn't seem anybody who could do the investigation who wouldn't be accused of being political or doesn't have a dog in the fight. does that person exist that every one would accept the outcome of it and not say they
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had a vested interest? >> well, it would depend how they set up the committee. the way mueller set up his office it was very clear, he was on a political witch-hunt. he only wanted people that hated donald trump and that is what he got. people that loved hillary clinton and hated donald trump. so he established right away exactly what he was up to. it was a witch-hunt. it was a political hunt. melissa: okay. >> so, yeah, you can find those people that do vote in elections but they don't contribute to one side or another. they don't go out and condemn one candidate over another and they have a clean record and pursue justice and not just us in the department of justice. melissa: we'll see. congressman, thank you for joining us. we appreciate it. >> we need this we need it. david: i kind of like the fact as journalist we can't give money to political campaigns. gives us an excuse for people
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who are running. something really serious going on in hawaii. melissa: wow. david: it's bad but potential catastrophe is on the hunt here. officials in hawaii hoping to prevent an even bigger disaster as lava approaches a power plant. imagine what happens if the lava hit that? we have a live update from the big island coming up. also facebook's mark zuckerberg taking his apology tour to europe. the ceo getting grilled by all the european regulators this afternoon. melissa: that should be fun. david: right. over the company's data scandal. more on details from that and fallout coming next. >> but it also become clear over the last couple years we haven't done enough to prevent these tools are being used for harm as well. ♪ digging into the paint. two bulls were fighting, hit the truck. another ding, another scratch, another chapter in the story.
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my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. david: back in the hot seat. facebook ceo mark zuckerberg facing tough questions today from the european parliament on that cambridge analytica scandal
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and protecting user data. deirdre bolton is live in newsroom with the latest. deirdre, if he thought it was tough over here, they are much tougher over there, those regulators. reporter: they certainly are david. the stakes are high. facebook, if it does not follow the new european laws that will be put in place this friday could be forced to pay 4%, david of the company's annual revenue. due the math for facebook that means $1.6 billion for the year. obviously facebook will do absolutely everything, of course to avoid falling afoul of those rules. i want to make it clear. this is not just about facebook. every single u.s. tech firm is going to be facing a gdpr, these are essentially general rules and practices that the european regulators expect any tech company with users, even if it is an american company, any tech company must follow these
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guidelines. it has simple, kind of practical applications such as the right to be forgotten. maybe you post something, you regret it, you want to take it down, you do have the right to delete that material. so mark zuckerberg pretty much stuck to the same script, let's call it that, that he used when he testified in front of d.c. we remember that early in april. year-to-date, doesn't seem like investors are too worried about facebook's ability to handle regulators on both sides of the water. if you look the stock year-to-date is up 25%. look at s&p 500, that is up 2.5%. but, today was really interesting because you know the whole format was very different in europe and brussels than what we saw in d.c. mark zuckerberg, made these opening comments. and then, basically he just took notes the whole time that lawmakers were asking him questions. so it wasn't one-on-one back and forth we saw in d.c. as zuckerberg addressed bigger themes at the end.
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it was almost stilted. at the end there was a lot of fire works and you had some european members of parliament saying, i asked you four or five yes or no questions. you didn't answer any of them. actually some of those lawmakers had to be put back in a box so to speak by the person running that meeting. so long story short, i do think there is more to come for facebook, particularly from europe. david, back to you. david: some are hostile to business in general. you add that into the mix because there are legitimate complaints about facebook. reporter: sure. david: their natural propensity against business on top of that, they are a tough crowd. deirdre, thank you very much. good stuff. melissa. melissa: here is another look at markets. major averages ending lower on concerns about trade talks with china. the dow giving back most of yesterday's gains, closing back below 25,000. david: they are searching for answers. the governor of texas addressing
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gun safety after friday's shooting. the latest coming up. melissa: potential doubts of the meeting for north korea, why president trump says it is best interests of the rogue regime to come to the table. that's next. >> we're moving along and we'll see what happens. there are certain conditions we want. i think we get those conditions. if we don't, we don't have the meeting. what might seem like a small cough to you...
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david: all options on the table. president trump welcoming shut cree's leader to the white house where the president spoke about summit with north korea's dictator kim jong-un could have been stalled by his visit to china. take a listen. >> we are working on something. you know there is a chance it will work out. there is a chance, very substantial chance it won't work out. i don't want to waste a lot of time. i'm sure he doesn't want to waste a lot of time. there is very substantial chance it won't work out. that is okay. that doesn't mean it won't work out over a period of time but it may not work out for june 12th. i will guarranty his safety, yes. we will guarranty his safety. we've talked about that from the beginning. he will be safe. he will be happy. his country will be rich. his country will be hard-working and very prosperous. melissa: sounds good. here is harry cast yawn
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necessary, director of defense studies for the center of national interests. harry, thanks for joining us. what do you make of the back and forth today? >> just reading all the tea leaves here, melissa, the summit is dead. it is six feet under. melissa: really? >> it is toast, to be honest with you. we're fear getting something here, i think we got caught up in the optics and positive talk but there is one thing here that is not going to change, north korea will always be north korea. you're trying to negotiate with lucifer, michael corleone the devil all mixed into one here. they are going to lie, they are going to cheat, they will do whatever it takes to survive. they want to hold on to the nuclear weapons because that is the only ace card that they have. we have forgotten here a lot of statements north koreans put out they never made a firm pledge to denuclearize and give us specifics. i think that is what they're doing to the trump administration here. melissa: what do you think about the cite visit where they're blowing things up and having reporters there? >> it's a great horse and pony
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show. looks great on the surface. we have to remember the north koreans probably don't need to test nuclear weapons anymore. they tested about six. which is what india and pakistan actually did in the 1990s to get their nuclear deterrents. they probably don't even need to do it. if they wanted to test they could test one to two months. they are digging massive holes in the ground to test those weapons. that is not very hard thing to do. melissa: okay. defense secretary, i'm sorry secretary of state pompeo said this earlier today. i will get you to react. >> we are continuing to prepare both our team and the white house so that in the event that the summit takes place on june 12th, that we are fully prepared. with the mission statement having not changed at all. we are committed to achieving denuclearization. melissa: so you put no credence in that? >> no. there is a lot of hedging. i don't see any optimism in his words there. i think they really know this summit is dead. they're probably just waiting for president moon to get back
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into south korea. i wouldn't be shocked if on friday, say 3:00 p.m. right before we're already to head out to memorial day we get a text from president trump saying this is over. now there is a possibility it could get reconstituted. maybe the north koreans would come to the table with some sort of concrete measures where they would denuclearize. maybe the summit could be put back on but if they're not willing to give us specifics and just want president trump to come to have a summit, give them a photo-op you absolutely can't do it because you're legitimatizing them. melissa: friday, that must mean you will come back to join us on fridays? >> you want me, you got me, absolutely. we'll set a date. melissa: i am one ever people, you watch a deal, it falls apart and comes back together, falls apart and comes back together unless it is totally fake. to me this is what makes it look real because they are actually having this disagreements before they get there. if it had been smooth sailing right to the summit that would
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be a signal it isn't really a negotiation and not happening but i don't know, you don't buy that at all? >> it is possible. there is a path to get the north koreans to denuclearize. the deal is what mike pompeo and others are alluding to. it is a step by step approach. north korea gives up a few nuclear weapons. we take off some sanctions. they take off a few icbms, we take off sanctions. if they don't agree to that melissa, this is over. david: pessimistic assessment. texas governor greg abbott holding first of series of roundtable discussions to improve security in state schools this after the friday's deadly shooting in santa fe with which left eight students and two teachers dead. here with details is fox news correspondent casey stiegel.
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reporter: more on the roundtables for you in a moment. let me set the scene. students are gradually let inside to santa fe only to retrieve valuables and cell phones left behind in the middle of the chaos that was friday morning's shooting. large areas campus are a crime scene and off limits but officers escorting students one-on-one. no cameras, no cell phones can be brought in. as this happens here, up in austin earlier today, at the texas state capital governor greg abbott convening special roundtable discussions. a mix of both republican and democratic lawmakers, educators, supporters of the second amendment even, top brainstorming sessions to develop what abbott calls swift solutions for making sure this is not repeated at any other
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texas schools. 10 were killed here on friday, two teachers, eight students, 13 more hurt. among them christian riley garcia, whose parents have been told their son put his own life ahead of others when the shooting started. >> he is an incredible young man. he was a great kid. he loved the outdoors. he loved people, compassionate, caring, concerning. reporter: out of 13 people injured, one remains in critical condition. that is officer john barnes. one of the school resource officers credited with helping stop the attack by engaging the shooter. he was shot in the arm while doing so. we understand a lot of damage done to blood vessels. he lost a significant amount of blood. family officials say it is touch and go. again he remains critical at this hour. david: our prayers go out to his
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family. casey stiegel. thank you very much. melissa. melissa: new demand for a second special counsel. new calls amid new revelations that an fbi informant inside the trump campaign may not have acted alone. next, andy mccarthy, a former assistant u.s. attorney sound off. >> this should be brought to the floor, we should vote on it. we should tell the doj we are sick and tired of the run around we get from you guys. if this fact pattern doesn't warrant a special counsel, somebody tell me what does. ♪ this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.
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but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. and these can worsen over time, making things even more challenging. but there are advances that have led to treatment options that can help. if someone you love has parkinson's and is experiencing hallucinations or delusions, talk to your parkinson's specialist. because there's more to parkinson's. my visitors should be the ones i want to see. learn more at moretoparkinsons.com >> let me tell you something i know for a fact this informant, this person they planted, tried to plant into the campaign and even into the administration if you believe axios, he is not the only person that came with the campaign and the fbi is not the only obama agency that came with the campaign. i know because they came at me. i'm looking for clearance from my attorney to reveal this to the public. this is just the beginning.
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david: president trump's former campaign adviser claiming the obama administration had multiple sources and agencies embedded in the trump campaign. here is react is andy mccarthy, "national review" contributing editor and former u.s. district attorney for the southern district of new york. these are pretty disturbing charges, andy, and do you take them seriously? >> i do take them seriously, david. my view from the start once you know they went to the fisa court, to me as a former prosecutor who worked on wiretaps with informants, it is a much bigger deal to go to a court to get a warrant than it is to use an informant. david: well, it does look, from what we know now, from what people have told us about the way in which these informants or agents, whatever you want to call them were working with suspects, people in the trump campaign, it looks like people were targeted with the attempt to bait them into saying
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something about the russians even if there was nothing to say about the russians? >> well, that is a pretty common thing with informant cases. that is why in so many of them you get an entrapment claim. there is always a big to-do about whether the person was predisposed to engage in whatever the behavior is that the agents were -- david: from what you have heard so far, do you sense entrapment here? >> i think there is a difference between legal entrapment which is very difficult to make out and equitable entrapment which is when the agents are pushing really hard but it looks to me -- two things to remember about this, dade. number one, this is a counterintelligence investigation. so in theory they're not trying to make a criminal case. but, are they trying to feed them things to get them to say that trump is somehow complicit with russia? if that was what they were convinced was the truth, agents have been known to do that sort of thing. david: then you have the case of fusion gps which was working
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with this russian spy. she is a self-admitted russian spy. they were paid millions of dollars by the democratic national committee. they met, fusion gps, the right arm of the smear campaign of the hillary campaign, was meeting with russian spy before and after her meeting with donald trump, jr. i mean that just reeks, does it not? >> part of the reason they were meeting before because they were engaged in a case together, but that doesn't really help them a whole lot because they were working for, basically an outfit that is expected to the kremlin. so -- david: they were, but at same time, andy, you know how these groups operate. they try to piggyback one client over another. i'm sure they thought there was something could learn would help the hillary campaign work from what the russian spy was doing with donald trump, jr.? >> i think david, there is no question what went on here was
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politically-motivated. i think if you go back to the beginning of the fbi's investigation, where it really got jump-started was when some of these people who had russian connections like manafort and page, entered the trump campaign. i really think, we'll learn that was the kicking off point. they may have had legitimate concerns about the backgrounds of some of these people but there is a real political overlay to this. david: well i don't like to quote people who i have on as guests, quote their own work but in this case you spoke in an article you wrote for "national review" -- >> i'm sure it's right then. david: i'm sure you will agree with your own words. i want to put it up on the screen because it is very salient what we're talking about. it is about abuse of power. if counterintelligence authorities were exploited to spy on a political campaign in the absence of strong evidence that the political campaign was in a traitorous conspiracy with a hostile foreign power, that
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would be a major abuse of power. is there evidence that abuse of power took place? >> i think there is evidence of abuse of power. i think in the end we'll argue about, if there was strong evidence it would have been irresponsible not to conduct an investigation, but if they don't have strong evidence they have to know better than going after a political campaign. david: so the president ordered a further investigation. we heard about it yesterday afternoon. the critics say, well this is political interphones in law enforcement matter. that is not right, to which you say what? >> i say two things, number one the president is in charge of the executive branch. if there was misconduct in the executive branch, it is the president's duty to find out about it. so they answer to him. and the other thing here that is very important, david, is, this was a counterintelligence investigation. i know i'm like a broken record saying that but, we don't want political interference in law
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enforcement proceedings. it is true that we don't want the politicians deciding who gets indicted. david: counterintel is whole another ballgame. >> it is done for the president, for president's mission. david: absolutely. andrew mccarthy, there is a reason why they call you the best. good to have you on. >> thanks, david. melissa: emergency workers in hawaii are racing against the clock. lava from the kilauea volcano is near a geothermal plant on the big island. raising concerns about potential release of dangerous gases. we have a live report from the grand next. [music playing] (vo) from day one,
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melissa: scrambling to prevent a catastrophe, lava from hawaii's kilauea volcano is heading near
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a power facility and officials fear it could trigger a release of toxic gas. jeff is near the island and how damaging could this be? reporter: there are real concerns with the lava getting close to the geothermal plant. there could be release of toxins and explosions. the hawaii national guard has black hawk helicopters on stand by, ready to go, should anyone become stranded and need rescuing. this plant we've been talking about, harnesses energy from the volcano and uses steam and hot liquid captured in underground wells. they are working to clear the rest of the property by filling up wells with cold water. lava is still flowing from many of the nearby fissures in much faster rate. in one spot it is getting close to a school. we asked geologists what this all means and if there is any signs of this volcanic activity slowing down soon? >> i have to say no.
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this is still the early part of the eruption, especially this second phase, which very fluid stuff. and usually an eruption, two or three days the eruption rate is quite high and it will then tail off. reporter: just the threat of this volcano has hit the local economy pretty hard. $222 million in lost revenue so far when you include funds that normally go to the national park and 2,000 jobs indirectly impacted. cruise ships canceled their visits to the big island. tourism authorities say bookings for month of may and july dropped by 50%. now the county's mayor tells us this island and hawaii in general is open for business. in fact, not too long ago we were at a nearby restaurant and one of owners said, tell your viewers this volcano is only impacting a very small percentage of the island. we count on people coming here. the beaches are still open. the weather as you know in hawaii, still beautiful. melissa. melissa: wow.
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when it is all over a lot of people will want to see it too. jeff paul, thank you for that report. david: what a terrific job he has been doing by the way. melissa: those pictures are just astonishing when you see the lava flowing. wow. david: amazing. if your invitation to the royal wedding got lost in the mail -- melissa: mine did. david: you went to much better one. melissa: i did. david: you have a chance to own a piece of royal history for a big price. wait until you hear. ♪ so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. if his denture can cope with... a steak. luckily for him, he uses super poligrip. it helps give him 65% more chewing power. .
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your company is and the decisions you make have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights. so you and your company are ready for today. . >> your own royal flag for a few thousand dollars. official gift bags were given to the guests at the wedding of prince harry and meghan markle. now sold on ebay with one bag reaching $28,000. that's insane. >> the party favors were given to all the guests who attended the wedding. of course there were several hundred local members of the community who were given tickets. it's suspected they may be the
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ones. a tote bag with the initials hm. a bottle of water. refrigerator magnet, chocolate coin and 20% voucher for windsor castle gift shop. >> you are given a voucher for the gift shop. "the evening edit" now. >> we're working on something, there's a chance, a substantial chance it won't work out. i don't want to waste a lot of time and i'm sure he doesn't want to waste a lot of time. there's a substantial chance it won't work out. and that's okay. that doesn't mean it won't work out over a period of time. but may not work out for june 12th. there's a good chance we'll have the meeting. liz: president trump talking in realtime telling you what is going on with that historic summit with the north korean leader kim jong-un. it may be delayed. we'll dig into the story and show you the deal-making in the works. this as

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