quite the winner today. [closing bell rings] as the closing bell rings, spiking quite after a quite a dramatic day, no doubt will change the conversation on wall street and on main street, about how information is disseminated to investors in the markets. that will do it for the claman countdown. melissa: strong profits driving the rally. the dow ending up 128 points as it shakes out. it is green for the s&p 500. nasdaq closing in positive territory for the sixth day in a row. it's a huge day. the longest winning streak in five months. wow, we have a lot to cover. i'm melissa francis is we haven't even begun to talk about tesla. i'm david asman, this is "after the bell." more on the market movers but here is what we're covering for you. we have a busy hour, folks. driving tesla off the market is that what is going on? ceo elon musk taking wall street on wild ride with rapid fire

tweets. they have not stopped. they're coming this hour as well, about the future of the company. is he going private? will he pay for it? the move that sent tesla shares soaring more than 12%. america is going to the polls in five key states. more on crucial races to watch all over the country and how they impact on the midterm elections. also on big issues that matter to you and your wallet. also we're moments away what could be a blockbuster report from disney. we're breaking down the big headlines that will be moving the markets tomorrow as soon as they come out right here. melissa: back to the markets the dow closing higher for the third day amid strong corporate profits and easing trade concerns. nicole petallides on the floor of the new york stock exchange. you have had a busy day, nicole. >> this is exciting one, melissa and david. you saw apple is the worst performer. that hit a high. if you own it, it higher highs. that is good news if you're bullish on the stock. here is a look at the dow up 127

points. it is getting closer to less than 1% away from the all-time high. boeing, caterpillar, 3m, from charlie brady, that is our senior editor. they account for almost half the dow's rally today. can we get to tesla? what exciting afternoon at least if you're watching the stock. not sure if you're short you're pretty excited. at 2:00 p.m., elon musk himself tweets out considering taking tesla private at $420. funding secured. that brought the whole trading floor in a tizzy. is this a bluff? is this a hack? is it legal the way he is putting it out? the stock was halted until 3:45 p.m. and opened, moved up 11%. the shorts got squeezed by about a billion dollars. the question is, does he have the funding and putting the

carriage before the host? there were reports that bankers close to tesla don't have information about the buyout. he is getting investors. wants them to stay on. this is the excitement of tesla. i'm sure we'll cover this plenty tomorrow. melissa: no doubt, nicole. thank you for more on this. today's market panel, gary kaltbaum, from kaltbaum capital management. lenore hawkins from themematica high, low? >> this is roughly 3 1/2 times the size when dell went private and that was enormous. that was a herculean effort. and this one to be so flippant about it, but i got to say i'm pretty sure the sales team at twitter sends musk and trump fruit baskets on a weekly basis. melissa: absolutely. gary, 420 may sound rich, but if the south did is are behind it

is a drop in the bucket. >> if he can get it, i take it before you say boo. my biggest question is, investor money is confirmed, but the stock is $40 below the 420-dollar price. we'll see. melissa: right. >> couple interesting facts. has bigger market cap than gm but gm has 10 times the sales and actually makes money. on top of that teslas has $10 billion in debt and would have trouble raising more debt. melissa: yeah. >> money-losing company, all of a sudden he comes out and states all of sudden they will will be profitable, then all of a sudden, oh, by the way we're going private. a little bit iffy on this, if he gets the 4020 i would be running for the hills -- 420. david: the first tweet he came out with said my fund something secure. his funding for going private is secure. at $420 a share. you add it up that comes up to a

market capitalization of $71 billion. how did he get secure funding for 71 billion? maybe lenore can talk to this point? he is overextended in terms of his debt. there is only so many billions of dollars that the saudis can chip in, unless they're going all cash, $71 billion, he is extended in terms of debt. how does he get that much money secured? >> that is an excellent question. i think the market is very skeptical given the price that he actually will be able to get that much of a premium. you look, what are the other options? he has been running out of money. he claims he will get cash flow positive. he was claiming that he would reach certain metrics on production. those all didn't exactly happen on time. it's a fascinating story. he is an incredible character. but as far as a business, this is really challenging. to get that kind of a premium, who really needs to pay that kind of a premium?

melissa: what would be worth the money to, the saudis. they're trying to make transition to anything that isn't oil. whether you look at it as a play to buy the technology or to undermine the technology, however you look at it, this is right in their space. they were looking at that public offering on saudi aramco. they have been looking at different things they want to do. that is supposedly still on but i will believe it when i see it. they have this project 2030 they're trying to change the economy. 70% of their population is under 30 years old. this is exactly the kind of business they would be trying to either develop and expand to exploit or, you know, to put on the backburner, because it is a threat. okay, hang on. we'll continue this discussion in one moment. in the meantime disney is reporting third quarter earnings and we want to bring you those breaking results right now. deirdre bolton is here with the numbers. >> hey, melissa, this is a beat, rather a miss, i'm sorry, a miss on the top and the bottom line.

i will take you through the numbers right now. disney missing earnings estimates, posting 187 per share. the estimate was for 1.58. revenue, disney missing as well. analysts looking for 15.34 billion. disney posting a 15.23. so beginning to go through the different areas where you have breakdowns here. you have the entertainment revenue, you have media, networks and you have revenue from parks and resorts. so if you look at studio entertainment revenue that right away is where you see at least one of the shortfalls. so you have 2.88 billion. and that falls short of 2.94 billion. i'm breaking down that one particular unit which is the overall studio entertainment revenue unit. so that at least is one source of disappointment. there were a lot of analysts saying prior to these figures coming out that "solo," a

"star wars" story, was disappointing movie. you had sales for incredible 2 and avengers infinity war outperformed at the box office. but "solo" was disappointing. as far as one unit is concerned, entertainment revenue explains or may have explained part of miss. just to repeat disney in fact lowering, disappointing investors if you like, missing on both the top and bottom line. 1.87 in revenue, versus 1.87 in earnings. melissa: bring in in the panel o talk about it. as we pour through details, david is scouring as well. david: yes, i am. melissa: john friedman, hunter college, stoneybrook media professor, gary and lenore with us. john, let me start with you, what do you think about the miss in terms of movies? are you surprised by that?

>> i'm surprised by that. movies is disney's culture. the youth movement and all properties they acquired last couple years. to miss is stark and worrisome for investors. melissa: yeah. lenore what do you think of that? >> well, media, they command taking over the fox assets about 40% of the box office. so yes, not real excited to see that. what i would also like to see though, here if they're getting more guidance on espn plus, they have been really quiet on that. that's been a long-time loser for them. they haven't been giving much metrics. i would like to see if we're getting anything there, the lack of metrics, indicates struggling part. melissa: gary, we're seeing studios and parks up 6%. what do you think of that number? >> well, first off the total earnings look up about almost 20%, so not that bad, obviously disney did not do a good job guiding. sales look up of or 7%.

being in orlando, the parks are packed. doing great there. prices keep going up. if it rains they sell ponchos. if it is too hot they sell fans with water coming out. they got you every which way they go. i have to see inside numbers. this is one of the great brand names of all time. i think it will continue to be. one bad quarter, all depends. david: park numbers are just coming in now, gary. looking pretty good. i also want to say something that doesn't have to do with the numbers. they say they're still enthusiastic about the purchase of 21st century fox properties. of course that has interest to us because 21st century fox is our parent company. so they are still interested apparently in that purchase. very interested according to them. go ahead, melissa. melissa: john, what is reaction to that? >> it is down to growth. disney has to keep showing growth. gary is right. phenomenal world class brand with great properties but where is the growth coming from? if the movies falter and espn is

not guaranteed, where is the growth coming from? the big question there always. melissa: could be their own streaming channel, the movies, that they will be putting out there online. everybody watches everything from home now. i go with my kids. we watch it in the theater. go home and buy it and watch it 100,000 more times, amazingly pay for it again and again. lenore that is where the growth comes from. >> absolutely. we've got, percentage of americans that actually have cable service is down to just 63% from 74% two years ago. more and more, if you look at younger demographics, even more dramatic. everything is going to that over the top, otc and with hbo having moved into the hbo now, that was done through bam tech. disney acquired bam tech recently. bam tech is really helping them move their forward with their own service. i think that is what we're really going to see growth. melissa: terrific, thanks guys.

david: breaking news from inside the beltway. wilbur ross is under fire, commerce secretary is being accused stealing more than $120 million from business associates, according to an article in "forbes" magazine. the commerce department disputing the claims. edward lawrence has details surrounding what looks like a bombshell report. edward, what can you tell us? >> the "forbes" article outline as series of events and scams according to the article would make the secretary of commerce wilbur ross the greatest grifter in american history according to "forbes" magazine. it outlines a series of lawsuits and a scheme wilbur ross set up before he became secretary of commerce. those schemes he would take management fees on his equity or private equity firm and then those fees were supposed to be rebated back or portion of them rebated back to investors. instead the magazine says he kept, pocketed some of those fees, to the tune of $120 million.

the article outline as series of lawsuits settled when business associates and executives say that ross shorted them money, overcharged to the tune of $48 million or flat-out took the money. last years one of the business partners of ross settle ad lawsuit, that was supposed to go to trial. in a statement the commerce department says quote, the anonymously sourced "forbes" story is based on innuendo and unverifiable claims. the fact that no regulator made any accusations against the secretary. this rehash of old stories is clearly the result of a personal vendetta. the baseless claims in the story were well-publicized and not news. other democrats jumping on this, senator elizabeth warren, that he has shady ties to russia and china, business conflicts and cheating people out of their homes. what else is hiding? issues bubbled up last july.

this letter was sent out by the office of government ethics of secretary ross, he neglected to divest 10 to $50 million worth of stock in his company. the letter is saying this oversight could erode on public confidence. wilbur ross says this was oversight on his part. the "forbes" article is a personal vendetta from someone with an axe to grind. david: edward, thank you, we'll follow that one. melissa: voters going to the polls deciding whether to limit unpowers in the state. the latest details on this. we'll hear from businessman, former presidential candidate herman cain coming up. david: you love herman. five states total at the polls today. in ohio we're looking at a very tight congressional race that could shift momentum heading into the midterms. we're on the ground in the buckeye state taking pulse of the voters. >> president trump is out with a warning to the world, stand with the u.s., not with iran.

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melissa: a look at disney shares. down more than 2% after-hours, following a miss on the top line and bottom line. the company reporting 20% increase in studio entertainment revenues for the third quarter. we'll be monitoring the conference call which begins moments from now. we'll bring you any major headlines. >> we made it clear that our objective, particularly after the november sanctions kick in, is that no one should be buying oil from iran. i think governments all around the world and businesses should

be asking themselves, regardless of the nuclear deal, why do you want to do business with the world's largest financier of international terrorism? david: john bolton taking a hard-line on iran. the trump administration reinstating some economic sanctions, promising more in the coming months. president trump making the announcement this morning on twitter saying quote, the iran sanctions have been officially been cast. these are the most biting sanctions ever imposed. in november, they ratchet up to yet another level. anyone doing business with iran, will not do business with the united states. i'm asking for world peace, nothing less. here is nile gardiner, margaret thatcher for freedom, heritage foundation director. good to see you, nile. anyone doing business with iran will not do business with the united states. great britain, the rest of europe do a lot of business with the united states, not so much with iran. are they willing to risk cutting off the united states in order for that piddling business they

do with iran? >> firstly the trump administration is sending the right message. these sanctions will be devastating for the iranian regime. it will significantly weaken iran's ability to support terrorism, to support a number of wars across the middle east. david: in effect to stay in power because the people are against them right now. >> significantly weaken i think the iranian regime. also i think reality is, many in europe understand this, that at the end of the day, within a few months, practically every single european company will withdrawn from the iranian oil field. we're already seeing that today. we've seen 100 european companies indicate they are suspending operations in iran. some of the biggest european companies invested in iran. total, daimler-benz announced suspension of their operation. david: from germany. >> biggest financial entities in the eu starting to withdraw from

iranian economy. david: put it in context. great britain alone, with the united states is 56 billion. we export 56 billion to great britain. we import $53 billion. there are the numbers. it is greater when you look at germany. germany actually exports to the united states over $100 billion worth of stuff. to give up the united states for the sake of 20 billion in total, the whole trading of europe and uk is $20 billion with iran, it is no contest. >> yeah. david: yes, you give up iran for the united states, right? >> absolutely. there is tough talk coming from the european union right now, especially from the european commission, from the french or germans in particular. the reality is, i think that europe is going to quickly understand that it is not worth it to stay invested in iran itself and so despite all the sabre-rattling coming from the european commission in brussels

these sanctions will steamroll over any eu investment in iran. david: there is a lot of hot air coming from this side of the pond too. nancy pelosi came out with a tweet essentially saying the iran deal has been successful. it would be a shame to get rid of it right now. do you think that holds any water with anybody, suggesting that iran deal was successful? >> i think the iran deal has been an absolute disaster. president trump is 100% right to withdraw the united states from the iran deal. within europe there are deep divisions over the iran nuclear agreement. there are some european leaders who do not wholeheartedly support the eu position on this. without a doubt the iran deal, greatly strengthened the position of iranian regime, the world's largest state sponsor of terrorism. president trump laid down the gauntlet to europe. you stand with the united states in face of barbaric brutal iranian regime or continue to appease the iranian regime.

david: to put bottom line, all the rhetoric from the europe and uk they're standing by iran deal, they will not stand by it? >> i think the "brexit" era will break away from e.u. positions on this and i think the iran nuclear deal is dead in the water. it can not be revived. david: nile gardiner, great to see you. thank you so much. melissa? melissa: moving further to the left. progressive candidates are riling up the bases pushing for medicare for all. "wall street journal" james freeman fills us in on the negative impact from these ideas. that's coming up. plus california wildfires ripping through the state, one now the largest in california history. we'll bring you the latest on the fight to contain the flames. that's next. >> i've been waiting four days for this to happen. when it is coming from both sides, i started crying but i was still doing my thing when i was crying, god, please no. ♪

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david: we got some breaking news on snap. the shares soaring double digits of after-hours, on revenue boosted by small business advertisers. the company reported a quarterly drop of users for the very first time. melissa. melissa: devastating wildfires raging across california, with two combining to form the largest blaze in california history, burning over 4 a square miles, roughly the size of the city of los angeles. firefighters are battling 15 blazes throughout the golden state. jonathan hunt has the latest. reporter: melissa, more and more of california is burning and fire records are being shattered. mendocino fire went from fourth largest in history 36 hours ago to the largest ever.

it is still growing at 450 square miles. firefighters say they're aweek away from being able to fully contain it. the number of homes is relatively small at 75, but makes it no less devastating for those who have been affected. >> what can you say? it makes you sick to your stomach. everything they have worked for all their life gone in a heartbeat. >> devastating, it is really devastating to see. and some people lost their homes in the back. there was nine homes here in the pack. then obviously it is hit-and-miss now. reporter: here in southern california the holly fire is ripping through parts of the cleveland national forest in orange county, burning 4,000-acres. it is just one of 17 major fires now gripping the state as we face yet another day of triple-digit temperatures and high fire danger.

president trump weighed in on what seemed to be longer and stronger fire seasons, seeming to dismiss the role of climate change in saying in tweets, quote, california wildfires are being magnified and made so much worse by the bad environmental laws which aren't allowing massive amounts of readily available water to be properly utilized. it is being diverted into the pacific ocean. must also tree clear to stop fire from spreading. calfire responded to that by saying it is not about water flow, adding in a statement, quote, there is nothing to release. there are no specifics to the tweets. we have plenty of water to fight these fires. the current weather is causing more severe and destructive fires. melissa, within the last hour or so, our producer caught up with senator dianne feinstein at an event in tahoe. she described the president's tweets as quote, nonsense.

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david: the road to the midterms, five states with key races washington, michigan, ohio, kansas and missouri. kristin fisher is live in newark, ohio, with latest on the 12th district special election that could have big impact on the midterms. tell us why, kristen. reporter: david, first let me set the stage for you because this is where the republican candidate, troy balderson is hoping to deliver a victory speech later tonight. you know most of the republican operatives in the state i have spoken to, they say they're cautiously optimistic he will squeak out a win over democrat danny o'connor but this race is still very close, too close for a republican in a district that president trump won by double digits. that is why president trump came to the district on saturday to

hold that big rally. he really wanted to remind his supporters that a vote for balderson is a vote for the trump agenda but some in the state like republican governor, john kasich, they worry that strategy could backfire. i heard from both sides while speaking with voters throughout ohio's 12th district today. >> i'm going to vote for balderson. >> why? >> because he is republican and i think trump needs more republicans in washington, the kind of cleanup the swamp. >> i'm an -- angry republican. i have to vote democrat this round. >> why are you so angry? >> i think he embarrassed us in front of the international community? >> president trump? >> president trump has, has embarrassed us in the international community. reporter: both sides believe that the president's support will have an impact but the question is, which side will it help the most? the president's support rally his base around republican troy

balderson, as it has for 11 gop primary winners he endorsed since june? or will it encourage democrats to vote against him even more? we'll begin to find out in about three hours. polls close here at 7:30. david, turnout in the special election expected to be very high, especially for a special election in the dead of summer. david? david: we have it covered here on fox business. kristin fisher, thank you very much. melissa. melissa: voters in missouri going to the polls to decide if unions can keep forcing unions to pay dues. jeff flock has the details on the proposition. jeff. reporter: proposition a they call it in missouri, melissa. it is good, this is not about personality, but about policy. voters getting a chance to weigh in on right-to-work states. there are 27. missouri would be the 28th. they call it not right to work

but free riders essentially. if we get benefits or pay increases to workers we have to pass those along to non-union members, they should pay a little bit for the cost of the negotiation. there are arguments on both sides. if you look at manufacturing jobs and how many have been created over the course of the past five years, you find out in right-to-work states, actually much better, up 5.5%. non-right-to-work states, up less than 2%. there is the wage argument. according to the economic policy institute in non-right-to-work states the pay, wages are about 3% or so less. regardless of which side you're on, no question unions are weighing in heavily on this. every union you could possibly think of from the afl-cio to the teamsters, steelworkers, international union of operating engineers, i could go on and on, bricklayers and the rest, they all contributed about $15 million to this effort to block proposition a. and the folks on the right to

work side have only spent about $3 million. so if it is determined on that, that would be one way to go, but, i would point out as you well know, tv ads, yard signs do not vote. people vote. and they will be voting for another three hours or so. polls close at 7:00 central in missouri. melissa. melissa: jeff, thank you. david: fox news contributor, former republican presidential candidate, herman cain. my friend, herman cain, good to see you, sir. how are you? >> david, happy to be with you. david: talk about the right-to-work laws. unions call to pay for a union to free riders. i call them free americans. what do you think? >> i call them free americans also. here is what the unions are not telling people in their narrative. the companies that employ people that are in right-to-work states, they get, they provide other benefits that the unions are in denial of, but the

biggest point is, the voters in those states, are going to be voting for workers to have the freedom to decide for themselves. all you have to do is look at wisconsin. they had a very similar issue in wisconsin. when they no longer had to be a member of the union by edict, 40% of the people decided, they didn't even want to be a member of the unions. so i think that the election is going to be very telling as you pointed out, but i think that the only good thing in this is that the people get a chance to decide. david: well, herman, let's broaden this a little bit because what's clear we're involved in an economic boom right now. the private sector just taking off like wildfire. we've got red number of jobs available to americans, more jobs than people looking for them. trump economic policies, a lot of people think there is a direct relationship, i mean not coincidental, that you lower tax rates, you lower regulations,

you encourage carbon production in the united states and you get an economic boom. other people, "the new york times" had a piece out today saying, large clouds darken trump's sunny economic view, suggesting that the tax cuts were bad for the economy. who do you think the voters are going to believe? >> "the new york times" is dead wrong, period. it is unfortunate that they have some people who have been reading "the new york times" for years and they write all of this malarkey thinking that people are going to believe it. look, i was in business for 50 years. i watched what tax cuts could do. it helped to boost the economy. whether it was local or whether it was national. i experienced what too much regulations did to my businesses, and what donald trump has done is to roll back regulations, lead the effort to lower taxes. it is working so when you hear from publications like

"the new york times," they are simply desperate for message that is not resonating with a lot of people. that is the problem i have with what they're saying. david: look at somebody's track record to decide whether you believe what they're saying about the future, you look at paul krugman, the chief economist for "the new york times," on election night say the market would crash. it is up seven thousand points on the dow since the election. nancy pelosi saying that in fact we'll have a economic apocalypse as a result of the tax cuts. you see the economic boom afterwards. are voters going to look at what works as opposed to what has been said that doesn't work? >> voters are going to look at what works. the only reason that the "new york times" can get away with writing garbage like that is that the people who read it haven't taken the time to cancel their subscriptions. that is all it is. every day americans, they don't read "the new york times" because they know "the new york times" is trying to feed them a bunch of a

malarkey. david: yeah. >> so the people still reading it are probably business people looking to the stork market, looking at their p&l statement, looking at their business plans, they will not believe that stuff. but they haven't had time to cancel their subscriptions. david: herman, less than 30 seconds. i got to ask, should the president forget about everything else on the campaign tours, focus on economy, simple reaganesque question, are you better off now than you were two years ago? i think most americans would say yes to that. >> i think that would be a excellent strategy but i also believe it is good that he is taking his message of accomplishments directly to the people. david: herman cain, great to see you, my friend, thank you very much. >> thank you, david. melissa: papa john's shares dropping more than 8% after-hours, nolling miss on earnings and revenue, lowering the outlook for the rest of the

year. the ousted ceo john schnatter remains under fire for using a racial slur during a conference call. david: we should have talked to herman about that. he knows a little bit about pizza. melissa: there you go. david: the headlines you need to know about before the opening bell tomorrow. stay tuned. ♪

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david: breaking news from snap. parent company of snapchat jumping 6% after a beat on quarterly revenue. citing pins alwaleed acquire ad 2.3% stake in snapchat. the stake is worth just about $250 million. melissa. melissa: disney shares trading lower after releasing lower third quarter results. deirdre, what are you hearing on the conference call? >> ceo of disney, bob iger talking about how enthusiastic he is about as we know the

purchase of fox entertainment assets and bob iger is speaking to this, this acquisition how it will really help disney's global growth strategy, talking about the fact that fox entertainment has properties in 170 countries. he particularly, mr. eiger calling out star india, has 120 million viewers per month. pretty much guaranteed. he is making a reference to what we're seeing in a larger media trend which is smaller, digital bundles are showing great success. he spoke about the fox entertainment properties of fx and natgeo contributing to that part of disney's business in the future, and saying that he finds it is going to allow disney to compete with netflix and amazon. he is also giving details, not as fun, when i left the call about espn plus, a lot of analysts want to know four months postlaunch how many paying subscribers.

analysts looking for more than 100,000 paying subscribers. i will stay on the call, bring you updates. melissa: thank you,. david: tonight's results could tell us if socialism is the really the future of the democratic party. james freeman from the "wall street journal" is sounding off. ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross,

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david: more breaking news. new details on proposed tariffs on $16 billion worth of chinese goods. edward lawrence has a list of products that will be affected. this is the second traunch of a two-part process. go ahead, edward. reporter: exactly. u.s. announced on june 15th there would be $50 billion worth of goods. 34 billion went in effect

august 1st. now tariffs starting in august, on august 23rd, the end of this month. the finalized list has been released. that list, only five items came off the list. there are 279 items on the list. mainly a lot of them machinery related this list was put into place pause according to the u.s. trade representative's office the chinese had discriminatory and unfair practices related to intellectual property stealing, among other things, and their practices going forward. but again on august 25th, no, august 20 third excuse me, august 23rd. this is the second half of the 34 billion that already went in, to make it total of 50 billion. moving forward on the tariffs, the administration not backing down. now there is a date when the 50 billion the president announced in june and that date will be august 23rd. david: thank you, edward. melissa. melissa: democrats are vowing to

give some form of free single-payer health care at the state level, including democrat abdul al syed running in tonight's michigan primary. here is james freeman, "wall street journal" editorial page editor. he is a fox news contributor, author of the brand new fantastic book, "borrowed time." right there that you bought with us. >> yes. melissa: what do you think of this push, medicaid for all? they couch it in moral terms. i mean if you are a good person, you're obviously in favor of this, and if you're evil you're against it? >> this is one more test tonight how many democrats want to march over this cliff with bernie sanders who is, as far as i know, not actually become a democrat, but he is offering the full socialized medicine and we should point out, when they say medicare for all, they actually destroy medicare along with every other form of insurance. so this is changing medicine for every single person in america. it is a radical step.

no way to afford it. patient care will decline. melissa: why would, for our viewers out there, why would their insurance they have right now not be available if we went to medicaid for all? >> i suppose we would ask bernie, but in his legislation he specifically gets rid of other forms of insurance. i think that is probably because socialism never works when it is voluntary, right? you need to force everyone into the system so the government can ration care. we are seeing these sort of weekly or monthly horror stories coming out of the uk where they had socialized medicine for decade now and, i think it is interesting in michigan, swing state, the party there as well will go for gubernatorial candidate that is this radical. melissa: hard to quantify in terms of price, some estimates i would see, you would have to double every individual, every viewer, your taxes would be doubled, and every business your taxes would be doubled and still

wouldn't pay for medicare for all. >> look at the experience of other countries and i think the uk is a good example. talk about the horror that is venezuela, no, we'll keep our society cool but just the medical part is going to be socialized but the uk, what you get is long lines. you get rationing. you get people who can't get treatments they need when they need them. so i think -- melissa: get rich people buying what they really need somewhere else, right? >> yeah. i think that is what people hope but there is no guarranty that escape hatch is there. melissa: your book talks about another industry where government help is not so helpful. basically explain for anyone out there who wants to understand or be able to reiterate the argument how government regulation doesn't make banks better. you kind of make it in there. >> this is kind of for anyone who is familiar with the 2018 bailouts, we look -- 2008 bailouts, citigroup in the first century it was basically a free

market bank, supported by the government, very healthy, very stable most of the time. whereas in the century backed by the government, one problem after another culminating in 2008. melissa: really helps you understand the problem overall and stokes the outrage and gives elizabeth warren something to chew on. >> really rebuts her argument of the we have a new document in here, we were able to pry out of the fdic with a foia request, the problems were in the regulated banks in large part. melissa: david. james freeman, thank you very much. david: business owners warning of a staffing crisis, but new york not making any easier for businesses. wait until you hear the new work place policy being considered by the empire state. you won't believe it. ♪

melissa: new york lawmakers approving a bill to give employees 3 month paid

bereavement leave. david: the bill now awaits signature of governor andrew cuomo, i wonder if taxpayers realize where their money is going in the state. melissa: amazing, "evening edit" starts right now. >> on iran. currency is going through the floor, much in the past 90 days. >> trump appears to be threatening any country that did you business with iran. >> in the spring, we lost the support we had, hard to achieve from russia and china. and the eu. >> why do you want to do business with world's largest financier of international terrorism. do your shareholders feel good that you are doing business with a terrorist regime, that is the thing that everyone needs to ask. liz: pressure on, president trump warning european companies, you do business with iran, you will not do