no unsaturated fats. stuart: a jam-packed show, the president visiting the victims there in north carolina, and we have a dow industrials that are truly rallying. we're up nearly 200 points. and on that note, my time is up, but neil, it's yours. neil: thank you, stuart, very, very much. what's happening to the dow jones industrials, we are less than a couple hundred points from a record on the dow jones industrials. some of the other averages had hits in the last couple of months. go back to january the last time the dow 30 hit a record on. friday, january 26, 2018. this year. driven by the same stocks that can be very easily whipsawed within the dow like boeing and caterpillar. the latter stock inched above 200-day moving average, without getting too wonky about this, because, well, it gets boring. statistically significant development here and for people

following this a sign that the dow could follow the other averages in and out of records. in the case of some of them here a month or more, not even in the case of the russell 2000, last hitting a record the end of august, around the same time for the nasdaq, around the same time, for the s&p 500. but again, the dow right now about two-thirds of a percentage point away from a record. what's driving all of this? let's go to market watcher scott shellady. it is remarkable, with all the worries of the kavanaugh nomination, with all the worries where the money comes from, for example, on hurricane relief and all of that as we drag deeper into debt with the worries on the trade front and all of that we cmb and climb and climb. what do you make of that? >> i think the markets make what i make of it. it's going to come to a resolution, a good resolution, and the guys behind me and the trading desks around the world between, say, new york and london, more patently claire,

and steve bannon said this is the hill donald trump is going to die on. trying to align japan, the european union and the old nafta partners, canada, mexico and the u.s. together against china to disrupt the world order the way it's been happening until now and rewrite the trade history. that's what he's trying to do here. the question is, is it a general custer moment or because he's main of action and not a man of attrition, i think something happens and that's what the market thinks too. neil: so what's happening particularly on the dow, when you think of this, an average that is dominated by the global concerns that would be exposed to trade risks and the like, what are we to make of that, the comeback there? >> well, i think a few days ago we talked about dow theory, the transports were leading 8.5%. the dow had been lagging, hadn't set a record since january, where the other two.

the s&p and the nasdaq had all year long, and looks as though that's coming to fruition here, and the difference is the dow is worried how long it's going to go on. we've come to the agreement it's not going to go on forever, except jack ma says it's going for 20 years. the president is a man of action, not a man of attrition, were the bump we got after mexico came to the table, and ultimately there's going to be some good that comes out of this because president trump doesn't have a long attention span when it comes to the deals, he wants something done now, and that's what the market feels behind us, there is a positive reaction and don't want to miss it when it happens. the whole buy the dip thing cost guys money because we're not getting the dips. neil: do you wonder about as well when we wonder of the makeup of this latest surge,

technology is not playing a part, the fourth or fifth day, not a friendly month for technology stocks by and large, some of the premiere ones, amazon, alphabet, have fallen 2 to 4%, not a friendly month for them. what do you make of that or friendly leadership that we should be watching? >> i think american technology is always going to lead but might have to be different technology, right? we've had the big horses out in front and see how they hold up overtime. remember those type of technology companies have changed quickly. go back to 2000 and name the top three or four, and probably one still there. we still have an issue about how long the longevity of the tech companies but i definitely think of the american ingenuity. i was in stanford two years ago giving a speech and the kids are on fire. we're going to continually feed that pipeline with bigger and better and great ideas. wasn't that long ago we invented uber. that's the new thing there.

i think tech will lead but new tech and baby tech that grows into it and hopefully bolsters with apple, amazon and the like. i'm bullish with technology, just the new technology maybe not the old stalwarts. neil: my friend, thank you very much. you see the number, 26,448 for the dow, that puts it within 160 points of 26,616.71. normally i don't get too involve in the numbers unless we are close to a record. on the dow we are getting very close. i mentioned in the context what's going on in terms of drama to say nothing what's happening on the hurricane and all the financial effects of that. the back and forth on trade and the ratcheting up with sanctions and threatened tariffs and that, and then of course, the ongoing kavanaugh drama and whether he becomes a supreme court justice. increasingly looking back and forth on that. and here's where you stand. in the meantime, the president is out in the

carolinas with a five-stop tour that will include the particular areas hit by hurricane florence. later tropical storm florence. but before he left, he gave reporters an earful what he thinks is happening to his pick to get on the court. >> i would say this. i think he's an extraordinary man. i think he's a man of great intellect as i've been telling and you has an unblemished record. this is a very tough thing for him and his family, and we want to get it over with. at the same time, we want to give tremendous amounts of time. if she shows up, that would be wonderful. if she doesn't show up, that would be unfortunate. neil: all right, well, they still want to have the hearing as i understand on monday, if she does not show up, if christine blasey ford does not show up, the accuser, lawyers represented fbi investigation before they entertain that, and judge kavanaugh does show up to

answer charges from a woman who wasn't there, where is all of this going? i immediately put on speed dial chad pergram, our capitol hill reporter to get a gauge of things. chad, where is this going? and will the hearing still go on monday? reporter: we're in a gray area whether this will forge monday. chuck grassley indicated that he's willing to hear from christine blasey ford in any format, open hearing monday, closed transcribed interview, i heard they might consider sending committee staff to meet with her in person, any way to get her story out. the committee is trying to be deferential to christine blasey ford. if you look back what happened in 1991 with clarence thomas and anita hill, senators from both parties reviewed as accusatory and trying to play this very straight to give her every chance, we're in the me too era and don't want to seem

like they are stepping over bounds here. i will say one thing that is interesting. john cornyn indicated yesterday he didn't think any point of having a hearing if ford didn't show up. her counsel is saying she doesn't want to appear in any form until they have an fbi investigation, and the president, as you played just a few moments ago, indicated that's not going to happen. let's look at the time line, neil, this starts to get very interesting. they won't say when they might have a committee vote on this. we don't know what's going to happen monday. skid if they might have a committee vote monday, and i've been shooed away on that. whatever they get this out of committee, they have to wait a day before mitch mcconnell, the majority leader would file on capitol hill cloture, an effort to end debate, cut off a filibuster, let's say they did vote mondays, not saying they would, that filing would be on tuesday, according to senate

rules, you couldn't take that vote on that procedural matter to cut off the debate until thursday. it would ripen. you need a day in between. committee would vote monday, hypothetically file this tuesday, wednesday the intervening day, vote on thursday on the procedural vote and confirmation vote would happen if you do it by the book, 30 hours after that. if the voel by mitch mcconnell, the majority leader is to get kavanaugh to the court by the first monday in october. that is accelerated right now, to me, the scenario i just laid out, you might not see a floor vote until late next friday or perhaps saturday over the weekend, if the goal is to get him to the court by the first monday in october, mondays, october 1st, neil. neil: somewhere, forgive me, chad, i don't remember where democrats are considering passing on a vote if it's demanded by chuck grassley or mitch mcconnell that they're going to go ahead and vote

either in committee or refer this to the full senate. if they did that. could they do that, and, b, would a vote be valid if they did? >> nobody says they have to show up. as i reported throughout the process, 100 years ago or so ago, they didn't have committee votes like this. it's not written anywhere that you have to have a committee vote. we have had supreme court justices confirmed as recently as clarence thomas with no recommendation from the judiciary committee, what happened in 1991, went to the committee, went to the committee and went to the floor, didn't have a positive recommendation, they confirmed him. robert bork got a negative recommendation from the committee and was defeated. if the democrats protest, that wouldn't have much bearing, senators from connecticut and hawaii were asked whether or not they would show up at a hearing if ford was not there, and if kavanaugh was there? and hirono said we have to be there to have our say in what she termed a charade by

republicans, but seems like republicans would be shying away from just having kavanaugh there. that might help in the optics department, neil, remember what i said in 1991, senators from both parties does not look good after the hearing with anita hill. if ford does not come out, that gives the committee reason not to go forward with a hearing and might help brett kavanaugh and might help republicans in the optics war. neil: the other way around, subjecting the judge to questions from accuser who isn't there, to make them herself. >> right. and this is why this is so unique, nobody really knows how this is going to play out. one of the questions is does this help these democratic senators from swing states who have competitive re-elections this year. does it give them an out to vote? no. some think if they were to vote no for kavanaugh because there's a reason that might hurt them in the swing states because they didn't vote for kavanaugh if christine blasey

ford doesn't come forward. neil: thank you very much. chad pergram following this well. there is a whole thought to the line, approach here that it also gives some of the senators who are in the big trump states up for re-election some cover that they don't have to vote for the justice or the judge. if they want to become a justice, their call, it provides it could be an excuse. it's a mess. you would think there would be confusion in washington and match the confusion at the corner of wall and broad. there is no confusion for the time being. the dow is racing close to a record, about 170 points away from one. after this.

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little effect as i said, we're following the dow jones industrials closely because it is the one average that didn't follow the others in record territory. it is make up for lost time now. about two-thirds of a percentage point, the last record achieved in january of this year. let's get the read on all of this from bush 43 brad blakeman and danielle mclaughlin. john, the market thing, we try to tie them to events and that's a stretch, but it is remarkable today climbing through all of this, why? >> yeah, maybe because it's enured to the chaos at this point in washington. kavanaugh dustup probably is less related to things that the market is concerned about anyways, right? they'll say that's the supreme court. big question is why isn't this market reacting more to or taking a negative view what's

happening on the tariff front. neil: what's that amazes me. >> me, too. maybe we haven't seen it yet, hasn't completely digested. we don't know the broader impact on industries, companies have to raise prices. consumers who may not be able to afford the raised prices. we haven't seen it play through the economy and maybe the market is standing by, we've got a great tax cut, earnings are up, we're rocking and rolling. neil: danielle, i have a theory on the trade thing, john is the expert, my crackpot theory is i prepared my parents for my report card when i was a kid. if they thought i was going to fail everything, that's how i telegraphed it. when they saw c's, dare i say b's, they thought i was in -- i mentioned there was a point. >> there always is. neil: that we were so factoring in bad news on trade and lo and behold we come to discover

within the chinese response that the tariffs 10%, not the 25% feared. that on our list of goods targeted, that the more onerous provisions don't go into effect until the end of the year. but i'm only mentioning it to say we grasp at good straws and trade accordingly, what do you say? >> that's probably true. to your point, once we get past friday, closer to christmas, once consumers stop worrying whether they can go to macy's, we might see something slightly different. your point about managing expectation says well taken. we have seen all sorts of chaos since the beginning of 2017, and all we've seen is the markets go up and up and up, i think there is some sort of -- they're immune to the political ups and downs of what's happening in washington. neil: the kavanaugh thing, while it's not such a

marketcentric event, he is a market friendly judge, if he doesn't make it to the court, we have to get a whole new person, i'm going the extreme route. dealing with a 4-4 court. i understand all. that but they'd rather see him in there than not, wouldn't they? >> they would, nine is great but eight works too. neil: the 4-4 decisions revert back to whatever the lower court ruled, right? >> that's true. to john's point, this president and congress is getting much more leeway from the business community and the consumer community, and they're giving time to see whether or not this is all going to work. neil: you worked with kavanaugh. >> i did. neil: in the bush white house? >> i did. does any of this ring true to you, potentially true. neil: no, it doesn't ring true to the person i know, the person i worked with. i know ashley quite well. i worked with her daily. i saw them socially. i saw them professionally and in my lawyer hat, looking at the complete allegations in the

letter. it doesn't ad up. doesn't add up to the person i know. neil: do you think he should go to the committee monday even if accuseer does not? >> no, i think brett kavanaugh's hearing should close if she does not show up. nothing kavanaugh can add to the questioning that has taken place. i think the opportunity is there. if she misses the opportunity, i think the hearing closes down and we move to a vote. >> here's what the markets might not be counting on and might do a better job of discounting or maybe already has. if this goes badly and the republicans are trying to choreograph this very carefully. they are so concerned about the college-educated woman voter, looking at this and saying that the professor didn't get a fair shake, or this wasn't properly examined, or the fbi should have been called in. maybe there is something to this and it affects the midterms, and you see -- neil: but given that republicans lose.

the president in new bern, north carolina doing the hurricane tour. finish up. >> it energizes the body of the electorate that was already energized and they were concerned about and further energizes them because they handled this badly. if that happens. then you have a midterm -- >> not doing an fbi investigation. then you have a midterm result that does affect the markets. neil: puts just as much galvanize republicans if this guy is ramrodded, right? >> it cuts both way. democratic women are the most motivated voters out there ahead of the polling. number one. there is a couple way of doing. that think about a woman from texas, a republican voter. number two, what if this is voter in garland, democrats need to be prepared for the idea that trump will cut bait and let judge kavanaugh go and provide someone who is less

favored by democrats. neil: that say waste, especially if the senate were to switch hands. he's got to stick with it. >> you know what i found in politics, if you just do the right thing, it always works out. when you overthink, when you overpoliticize, that's when things go terribly south. so i think republicans need to do the right thing. >> i totally agree. neil: jeff flake and susan collins were for giving her a chance to speak. she doesn't want to speak until the fbi investigation ensues. so that delays this quite some time. would they all of a sudden, chuck grassley says not doing that, i talked to mitch mcconnell, he's not doing that, then what? >> she's given every opportunity to what she requested prior to her switching her mind on bringing in the fbi. neil: that's going to look like republicans shut her down. >> i don't think so. the constitution is clear, the senate has jurisdiction. fbi doesn't have jurisdiction, the senate does, and the body of that judiciary committee has an obligation, a constitutional

obligation that shouldn't be subverted because somebody requests something different. >> the voter is not going to be looking at this as a process issue. the voter is looking at this as a fairness issue. >> right. >> that's what republicans on this committee are concerned about. >> right, and particularly because sexual assault not dissimilarly from domestic violence, these are crimes or alleged crimes where women can be abused twice. once in the actual act, and the second time around in the coming out of it. more women than we want to think about who have been victims of this kind of a thing whether it is alleged or actual. there is the humanity piece of this. there is the process piece of this, and there's also the political piece, and sometimes doing the right thing is not what political expedient for the republicans. >> my advice is do the right thing. stick by the rules, stick by the constitution and you won't

go wrong. there is no way can you overthink. this can you overestimate what the public will do, but the bottom line is, when politicians do the right thing, people see it for what it is and appreciate it. neil: thank you very much. i apologize for interrupting you, and i do want to keep our eyes what's going on in north carolina. the president part of a five-stop tour. we're not told all the stops ahead because of security reasons, he's going to be in the carolinas tonight and back to the white house. as we discuss the fate of judge kavanaugh, we're hearing from shannon bream, our legal correspondent that sources are relaying they are willing to send committee staff to dr. ford, the woman who charged judge kavanaugh as a teenager he assaulted her, that they go to california, if need be, wherever she would want to meet to get her side of the story versus quoting here, the bright lights of a national hearing. i repeatedly pushed whether this is in lieu of monday's

hearing, coming from shannon, or unclear, but the offer is on the table. so they want to make a point of getting to wherever she is. get her side of the story. share that with the judge who is scheduled to testify on monday, and reportedly with or without her there, but they are doing yeoman's work, they say, to make sure they do get that side of the story, they do hear her charges and raise them with the judge on monday. even though it's looking pretty clear she won't be there. more after this. world to stopg the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. . .

>> welcome back to "cavuto: coast to coast." i'm lauren simonetti on floor of the new york stock exchange. we're watching the financials, leading the market. the dow and s&p 500 on the dow, credit jpmorgan chase and goldman sachs. in fact if you look at kbw banking index, that is up almost 2% today. all 24 of the banks in that index to the upside. banks obviously beneficiaries of

higher interest rates. we do expect the fed to hike once again at its meeting one week from today. we're seeing the 10-year yield pop back up against 3% today. that is highest in about four months. bottom lining this for you guys, still gas left in the tank here amid prospect of higher interest rates and potential trade war with china. if we get both of them, maybe investors tap the breaks. we're not seeing that at least for the dow and s&p. neil, back to you. neil: lauren, thank you very much. we're watching s&p and dow, all averages here. tesla is getting sort of a raised highbrow look. this is not typically what you think would happen, a lot of people breathing down your back. or exactly what would happen. charlie gasparino with the latest. what is going on? >> stone called cavuto is your name now. that is your name, stone cold cavuto. neil: i have various names for you. not repeatable. what is going on here?

it is counterintuitive. >> it is counterintuitive, matches what we were reporting today. digest what we said on this show, claman's show about the nature of the doj probe. you might have made a few bucks because you thought it was overreaction. the bottom line, sec has serious civil investigation going on. as we first reported, they issued subpoenas. "the times" reported that it extended to wall street firms as well. we're waiting comment from wall street firms, goldman sachs and silver lake. representatives of tesla. that is the serious part of the investigation. more pro-forma part of the investigation is the potential criminal part. u.s. attorney for san francisco essentially did not, did not issue a subpoena but they basically put a call into tesla and made voluntary request for documents, piggybacking what is going on with the sec. neil: is that common? >> that is very common.

i seen it happened hundreds of times. irv now and then they don't. but, so i'm not saying it's a nothing burger. when you start putting into context the real rubber meets the road is on the civil side. if you like, if you're buying this stock, here's what i would say there is an issue with elon musk. he is acting irrational. he is smoking pot on tv, saying crazy stuff. he makes promises that he can't deliver on. the sec investigation is a threat to him. more of a threat is whether he can deliver on the promises of production and profits that he has been throwing out there. if he can, the stock will probably be okay. if he can't, it will underscore what the shorts are saying, that the emperor has no clothes. this thing is pumped up. what you really have here is a wrapper, a car wrapper around a battery that is probably not

worth $300 a share. neil: some suspect he can dodge -- he has a big mouth. he has said things, you know he is billionaire. you and i talked to many billionaires including guys in oval office, they say whatever they want. in his case it is unfettered, no unspoken thought. no criminal intent, just a big mouth where he should be more circumspect. >> you're absolutely right. if he can prove he felt he had funding secured, felt, spoke with enough people he can raise the money -- neil: financial genius in him would tell him to shut up. >> if he felt that way, there is a good chance a criminal probe washes away. the sec probe is a lower bar for intent. if he has to have reasonable basis to basically, on a civil case, to be making the, making the statement, funding secured, they will look at it a lot less stringently than the criminal case. while he is probably not going to jail, there is more than a theoretical chance he can be barred as ceo of the company based on that tweet.

that is a possibility. neil: they're making tesla vehicles. they're still producing not numbers he wanted, in other words they're still doing all of this. >> but you have to do it, you have to hit production goals. tough sell enough of them. neil: talk high and delivered low. >> you have to sell a lot of them. he has got competition. again the real question is -- neil: audi announcing yesterday, that is not only announcing competition, that is genuine rifle. >> they know how to produce cars. >> unclear with tesla and elon musk -- neil: would you drive an electric vehicle? >> i heard it's a phenomenal ride just so you know. neil: how do you get out to the connecticut compound? >> my compound, yes, so you know in whole foods there are like charging stations. electric car charging stations and basically -- neil: i didn't know that. >> there are no electric cars there. everybody parks there has regular car. i just wonder if this is, california, i guess the land ever the left, this, you know,

electric cars -- neil: this technology isn't going away. tesla is leading -- >> just because they're the first one out of the box, doesn't mean they can make it work right. when you have erratic ceo. someone told me, chris whalen told me how henry ford wasn't really genius behind ford. the real guys ran it, made sure he wasn't part of operational aspect of ford. he was much more of a genius. when he became the operational part of ford, the company hit the real skids, because he was a mad, crazy genius. he wasn't a good businessman operational guy. might say the same thing about elon musk which is why a lot of people's bankers are saying, please get someone to share responsibility with him. neil: real quickly, staff screaming at me. markets are up, crosscurrents, trade worries, judge kavanaugh worries, i heard climbing a wall of worry, but we're climbing a wall of worry here.

>> interest rates are going up, generally good for bank stocks and bank stocks are usually harbinger of the market. they helped propel the markets. a couple of hundred billion of tariffs we'll see if that has impact. if he goes nuts -- if he unwinds nafta, that will be really existential for the markets. this little tit-for-tat, small tit-for-tat thing is not. people look at it. neil: say what's a few bucks here, a few bucks there. neil: genius doesn't cover you. >> who? neil: genius doesn't cover it. >> stone cold cavuto. [laughter]. you would be a great wrestler. stone cold cavuto. [laughter] neil: we have a lot more coming up. we are watching the dow. we are watching the other market averages, the reason why the dow is getting disproportionate interest, one average really not field the parade. look at other averages that hit

records last month, the dow held back. technology stocks dominant theme in the dow not enough to deliver the goods. thanks to financial issues, multinationals like boeing and caterpillar, with a lot at stake in the trade war, the feeling they could dodge a bullet, all adding up to within the average. 170 points thereabouts on the record. keeping an eye on president of the united states. in north carolina, we go into south carolina as well. it's a five point stop we're told. not all stops are telegraphed. is fair and right for security reasons. the folks down there are happy to see him. any help is good help. more after this. you're still here? come on, denise. we're voya! we stay with you to and through retirement... with solutions to help provide income throughout. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. oh. so, that means no breakfast?

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neil: the president down south, north carolina. he will visit south carolina as well. kristina partsinevelos with us from whiteville north carolina, how folks are handling things there.

reporter: i'm 50 miles inland. president a few hours away, given amount of traffic and fact so many roads are blocked the president visited three locations already. he is speaking with officials. he is surveying damage. he says it is incredible damage. and that the federal government will come through with financial aid. listen in. >> we're getting all teed up for a lot of money coming down to the area. you're going to need it and which have it, we will be supplying it, and there will be nothing left undone. you will have everything you need. reporter: those are some very, strong words. you will have everything you need and what everything you need, the owner of this shop definitely need as lot because he was looted during this storm. we'll bring you to murph's pawn shop here. when looters did, when waters

came up, they took a kayak, took a kayak to the front of store, they broke through, because none of the electricity was working. the alarms didn't go off. the owner was here 30 minutes ago, very, very distraught. he had to pick up supplies, unfortunately i couldn't get him on camera. he said anywhere between 30 to 50 guns have been stolen. he is very concerned that they're on the street. literally picking up price tags of these guns. this one is for a 12 gauge, 349.95 for a tristar gun. so these are just some. guns. he hasn't done full inventory, but 30 to 50 guns have been stolen. he is very concerned about the store because he had asked for the police to come. there was miscommunication. so he is sat outside of this store when there was waters rising, surveying it, because word got out he got looted on saturday. other people found out. they started taking their kayaks, and their boats. he was on dry land further away, with his gun on a chair, telling

people don't go near my store or else. this is clearly an example. there are two stores here been looted during the floods in whiteville, north carolina, neil. neil: kristina, thank you very, very much. we do appreciate it. we'll follow the president's tour of the south also following what was going on 10 years ago this week. regular viewers of this show know of course it was a big old melt down. anything but that today. we're seeing stocks continue to move higher on optimism that kind of thing won't happen again. sheila bair, former chairman of the fdic on whether history repeats itself or has the nasty habit of rhyming after this. to rent a movie?

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neil: this is omnibus legislation they're kicking around, ma'am, going to include backup reserves for you or is that just understood? >> we already have backup reserves. that is not understood. neil: $43 billion figure, you're running out of money. >> we have a lot of backup reserves. for both working capital to cover losses. under any scenario believe me, the treasury will be there, if we have to borrow money we can borrow as much. people should not worry about that. neil: looking at that, she has not aged a day.

i have gotten far worse toupees. welcome back, everybody. 10 years ago in the middle of this meltdown, there it was the fdic chair, sheila bair, throughout the crisis, warning how we get out of the crisis, long and short we got out of crisis but she is back here to say history might not exactly repeat itself but it has a nasty habit of rhyming she addressed in couple years back, in a great book, bull by the horns. one of my favorite reads from the era. sheila bair. nice to see you. could it happen again. >> i won't say it couldn't happen again. we had a debt driven crisis in 2008. through low monetary policy, we basically used debt to engineer a recovery. neil: took out a big home equity loan? >> yes. government debt.

corporate debt. non-mortgage consumer debt at history highs. it is not sustainable. i do worry economic growth is driven too much by unsustainable debt driven consumer spending and corporate spending. neil: do you see any bubbles anywhere? a lot of people were saying, ahead of the last crisis, real estate was looking like five card monte. people were buying properties site unseens and selling them. any of that going on? >> well, i know, i don't think, things that egregious are going on. because of this extremely protracted period of low interest rates, asset valuations, i think a lot of other people's view are quite inflated. financial assets, stocks and bonds. neil: you think this is very rich here? >> i do. commercial real estate -- neil: not as rich as you would think in multiples? >> well you know, there are people with goodwill disagree on that but i do think as a general

rule, because of this protracted period of near zero interest rates assets across the board are overvalued. that does create problems for stability, especially the capital markets may be a little bit more resilient but banks with a lot of cohad of lateralized -- collateralized lending as they fell in 2008 we could have a problem in the banking system. neil: says now we don't rescue them. i can't imagine we wouldn't. >> i hope we don't. there are new powers under dodd-frank. they gave the fdic to resolve, put into government-run bankruptcy large financial institutions. we didn't have that during the crisis. we only had it for insured banks. so that's positive. there are limits on the fed's ability to provide one off support as they did with citigroup and others. that has been taken away. they could still provide broad-based support. there is truly systemwide problem they can provide general

access to their lending facilities. but if you have, you know, individually, poorly-managed institutions, they are supposed to go into title two which is a very harsh process. neil: i always think to your point, banks have more emergency funds on hand if in case everything goes kablooy, that is a technical term, in a market downdraft, all bets are off. i remember 10 years ago a lot of those stocks were cascading, losing their value, that was the means or currency. didn't matter how much capital on hand, couldn't reflect what they were losing in markets? >> that is very true. what we saw in 2008, is because large financial institutions were borrowing a lot themselves and borrowing very short term, they had all these mortgage exposures, a lot of them very es sew tearic structured products

ises. neil: there were words for them that i can't repeat but come up with these creative -- >> they do. lack of transparency hurts accountability. how well-capitalized are they? 5%, 10%? neil: getting package the securities details of which they still don't know i always think it's a different flavor, different decade. >> well it is. it is frustrating. i do think regulators and people in congress, those who are involved making financial regulatory policy need to understand wall street is in the business of making money. that is what they do. that interests not align with the public interests particularly with deposit insurance. they have access to fed lending. potential bailout tools available to them. neil: when bank of america and merrill lynch joined at hip, that worries you? >> yeah. the bigger the institution, greater likelihood they, which

we saw in 2018, blackmail the government. i think in 2018, we could have imposed a lot of accountability and losses on shareholders and unsecured bondholders that we didn't do. we just didn't have the political will to do. i'm hoping under the new dodd-frank framework will happen again. neil: i do find a lot of these guys, so hypocritical, i said it 10 years ago, saying it now. they will point their finger, you don't bail this group out. don't help this group out. like telling me eat a salad. people look at me once, neil, really. yet, these are the same guys doing that and they got the biggest bailouts of all. >> yeah. neil: i'm not here to question whether right thing or bad thing, it was precedent setting thing to a group beyond arrogance here. >> it's a precedent we don't want to repeat. that is why i get nervous calls to expand bailout authority. we have to expand bailout tools to happen again. i don't want it to happen again.

i want priority to be prevent it from happening again. that first and foremost means much stronger capital requirements. make sure -- neil: even much stronger -- >> i would make them stronger, absolutely. as you know in washington they're under assault. they're un-- he wants more bailout authority. congress passed a lot reducing capital in largest banks. it is incredible. short memories. very short memories. neil: sheila bair, thank you very much. she was one of the heroes of decade ago. got very little credit because she was calm and reason and thoughtful. she ticked off both side which instantly made her a hero. more after this. now that you know the truth, are you in good hands?

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neil: all right, we have the dow, by the way the s&p too approaching all-time highs. th dow is getting more attention because the last stragler to the party. january 26th of this year. all the other averages, most of them did their thing, last month, recently as last month. catch up time for the dow, it might come up with 160 points or so, driving that group. what is driving of late. a lot of pickup in trade sensitive shares getting hit now all of sudden are gaining some strength. the likes of boeing and caterpillar. caterpillar in and out of breaking through its 200 day average, gets a lot of technicians excited. financial issues doing quite

well. before you get into the weeds, uncertainties with the market climbing. the president blasting democrats on this whole letter and treatment of judge kavanaugh. listen. >> what i don't like is that senator feinstein has this -- has this letter for a period of like three months from july, maybe even before that, but from july. why didn't senator feinstein bring this up at her meeting with judge kavanaugh? why didn't these democrats a? they knew about the letter. they were showing it to democrats. why did they wait until everything was finished and then bring it up? that doesn't look good. neil: all right. how does this all go now? i mean they're going to have this monday meeting that is a judiciary committee will hold a special hearing. but we're told without the accuser, christine blasey ford will not be there we're told. her lawyer wants an fbi

investigation first into all this. republicans are countered they were happy to send committee members, staffers, researchers to wherever miss ford is, dr. ford and talk to her, to avoid the glare of tv lights. but again, as far as we know the hearing is still set for monday. and you're still going to have the judge getting questioned on charges from a woman who might not be there in person. connell mcshane on the white house. how all of that is going down. connell? reporter: the president made comment that you referenced before he left here for the trip he is on right now to north carolina, speaking to reporters on the south lawn at the white house. for a while he tried to play both sides, said sexual assault allegations against judge kavanaugh is unfair but he wants to hear from dr. christine blase ford. then offered up what appeared to defense of his supreme court nominee appeared to cast some doubt on allegations leveled by

dr. blasey ford when she and judge kavanaugh were both high school students. listen. >> if she shows up, makes a credible showing, that will be very interesting and have to make a decision but i can only say this, he is an outstanding man. very hard for me to haj anything happened. reporter: very hard for me to imagine anything happened, said the president. as for what happens next, neil, you were getting into this a little, that is difficult to imagine at this point as well. dr. blasey ford is the one who called fbi to investigate her allegations before she testifies, that our fox colleague john roberts citing highly placed law enforcement force, the fbi does not plan to open a criminal investigation, largely because there are no allegations of a federal crime. on capitol hill the judiciary chairman, charles grassley, said last night that he saw no reason to delay the planned hearing from monday. but he made additional comments today, saying he would basically

do everything he can to make dr. ford comfortable testifying, whether that is open session, closed session. maybe a private staff interview, a public staff interview. we even heard reports of staff flying out to california to meet with her. so things are very much up in the air, neil, what happens next. neil: connell, thank you very much, my friend. to connell's point, republicans are in a bind on the whole cavanagh situation. we're less than seven weeks away to the midterms. "weekly standard" executive editor fred barnes. it comes across as republicans are damned in they do, damned if they don't. trying to afford miss ford an opportunity to speak, but if her lawyers insist a fbi investigation conducted and finished first, they're between a rock and a hard place. what do they do? >> well they are. at some point they will have to take a tough vote. make a tough decision and live by it. otherwise they will get this delay tactic which is --

neil: would everyone go along with delayed vote? would a jeff flake a susan collins? would all of them go along? >> that is a big question. one, there is going to have to be a vote. and two, will republicans have enough of their own people to pass it? we don't know that, particularly with jeff flake. bob corker, senator from tennessee, sounds like he is on board to vote for kavanaugh. we don't know about flake of arizona or about collins. that is two. you really need to limit it to one losing vote. the -- neil: you could go to two. can't afford if you want the vice president role. that is a grenade right there, right? >> well, there are just a lot of them. neil: right. >> republicans will have to take a tough decision sometime because, look, if the fbi, if

the fbi comes in does an investigation some sort it will raise questions. and then, obviously the lawyers for dr. ford are going to say, oh, we have to get these questions answered on and on. this is the delay tactic that democrats have used from the beginning and right now they're using it pretty well. but republicans are going to have to, if they, go ahead and have a vote, and kavanaugh is confirmed then, the democrats will go crazy and feminists will and a lot of, a lot of others will say that look, oh, she didn't get a full hearing. it wasn't investigated enough. it was premature to have this vote and so on. it is, so republicans are going to suffer either way. neil: i want to bring erin in this, salon streets strategy partner. erin, the argument even if you get the judge into the supreme court by the october 1st start of the session,

republicans will have guaranteed more losses, more ticked off female voters than they were counting on. do you agree with that? >> yeah. i think in any way there are women voters throughout the country who are furious republicans, don't like they see go on with this particular nomination, how it has been handled. at one point i saw over the weekend the white house clearly made the calculation that the arizona senate seat and nevada senate seat are gone. there are democratic women running in both of those seats polling ahead of their republican open popes at this point. and you are seeing women who in republican women, moderate, centrist women coming out for democrats. this is tough road to hoe for the republicans because i think right now potentially democrats making a play for getting control of the senate here. neil: that is all the more

reason, erin if you're right about that, republican was rush this through, definition of rush through because they might not have this flexibility or, good judge candidate would go anywhere with a democratic senate. >> it's a tough calculation, either, either way you slice it really because if they go forward with this and don't give dr. ford appropriate concern, then i think you're going to tick off a lot more women. here is one thing i don't point out, neil, i don't think gotten a whole lot of attention last hour, lisa banks, her attorney, spoke to anderson cooper last night on cnn, look her life is been upended, had to relocate from her home. she is getting death threats, has to take care of her family first, isn't going to be ready on monday for a public hearing. i do think that we have to give dr. ford a little bit more respect on this, because you have a number of senators

saying, come and speak to us publicly in this big public spectacle on monday and she is trying to take care of her family and life first. neil: we'll see -- speaking with democratic senator right now. alabama democrat doug jones. he is calling for mark judge, the high school friend of brett kavanaugh to testify as well if it comes to that senator, thank you for taking the time. >> my pleasure, neil, thanks for having me. neil: how likely do you think that is? >> well, i don't know, there is certainly a history in all of the judicial committees or senate committees and house committees if you have reluck tan witnesses you issue a subpoena for them. that is routine. and, as i said before, clearly his, his refusal to come and stating why, will be entered into the record. but that needs to be tested as of right now. there are only three witnesses to this alleged incident. one says he is just not going to come. if we have public hearing, make

him come public to cross-examination, see how it goes. that is only way you can have a full investigation and hearing. neil: what kind of reaction have you gotten from republicans? have you talked to any republicans at all? >> we went out of session yesterday. i hope there is still discussions. this needs to be taken out of the political world. this is supposed to be an independent judiciary and nomination not supposed to be as tribal as this has come. we need to take a step back, let this play out. let the fbi do an investigation. the president, i heard him again to say today, to say that the fbi shouldn't do that. they do this. they do it all the time. it would not take long to get this investigation done, to hear the witnesses. hopefully publicly, if not at least get it behind closed doors but get them all under oath. neil: senator, if republicans go along with their plan to have this monday hearing with or

without dr. ford. there have been efforts, we're told and outreach to speak with her, even away from the glare of cameras at her california home, whatever, republicans are adamant about continuing hearing as planned, continuing a vote within committee on the judge's nomination, and a full senate vote, would you participate in all of that? >> well, when you say participate i'm not a member of the committee. if i'm called on to vote -- neil: full senate. >> if i'm called on to vote i will not give a protest vote abstention. i will not do that. my role as a senator is not to do things like that. neil: i want to be clear some of your colleagues has been bandied about, they would have a protest no show. >> that is certainly their prerogative. it is not the position i would take personally. but at the same time, i do think it would be incredibly unfortunate to go forward with this nomination on the floor, even in the committee without having a the ability to talk to

dr. ford. she, her life has been upended. you maybe mentioned doing something at her home. they can't do that because she had to move out of her home right now. we need to let this rest. we need to make sure we get the fbi to do that. you can't have full committee hearing without getting more facts. if we're just going to be a her statement without being tested ahead of time or looking at facts and judge kavanaugh's, that hearing could devolve into nothing but theatrics. neil: hasn't already, senator? do you worry the same respect might not be shown to the judge? this is unfair to him had and that this letter, from this woman, that dates back to the summer, dianne feinstein had in her hand, didn't do anything with it. there are a lot of reasons back and forth on that, do you think democrats on that committee, i know you're not on that committee handled this fairly? >> no. look, i think that we have to be

fair to judge kavanaugh. we have to be fair to dr. ford. i said that from the very beginning, neil. but only way to be fair to everyone is to let the fbi get engaged in this, to look at the facts. that is what they're trained to do. they do it all the time. that way when the senate does convene and judiciary committee convenience they will have more than just a statement and a denial. in that way they can do things appropriately. i would like to see both sides of the aisle just tamper down the theatrics. and right now, the problem we've got is that we seem to have colleagues on one side of aisle pushed this through. the colleagues on other side saying we need to wait. unfortunately looks like people already made up their mind. i don't think that is appropriate. i think -- neil: seems on both sides. you're trying to be very even-handed, sir, i mean the president just wonders about timing of all of this. you heard before what he had to say he went down to north carolina. that this process is not being

fair, democrats on committee, miss feinstein who he said had this letter in her hands didn't do anything about it, suddenly lo and behold did. he is angry. republicans locked into their position as you said. democrats locked into their position. i don't know of a single vote changes as a result. >> you may be correct about that, but the fact is we are where we are. i have said from the very beginning i have been concerned about this process. you know, chairman grassley asked for hundreds of thousands of documents that he said back in the summer were appropriate to get to review prior to a nomination being considered by the committee. those documents have not been all turned over. they can't be turned over until october. so there is a fundamental unfairness to both parties that has been on going. and whether or not this could have been done earlier is really beside the point at this stage of the proceedings. what we have to do is play the hand that we're dealt now. the hand we're dealt now is to be fair to both parties.

be fair to judge kavanaugh, to be fair to miss ford. let's go forward. let's see we get with investigation. it would not take long. nobody is saying put this back to the end of the year or so the first of next year. it would not take long for a very efficient fbi to update a background check based on what they have heard right now, let the committee review that and have the hearing as they see fit. neil: senator, your pick up was one of the more historic ones for democrats in red as you can get in alabama. now there are signs that some potential flips are in the works that could send the senate democrat and hence the rush on part of republicans we're told to try to get this nomination secured before any of that happens. what do you think of that? >> well i think we should, that is exactly what i was talking about, the problem with people talking about this in a political context. this is a supreme court nomination.

neil. this is not a political game. neil: but this nominee would go nowhere right? it wouldn't go anywhere with a democrat senate right? >> no i disagree with that i completely disagree with that. we have two years left on this administration. i disagree with that. what might half to happen is, the president actually talk to the senate and his advice and consent type role he has get advice doing that, not seeking advice from other, other interest groups that we have here. i think we have got to take the political bent out of this. this is problem. we're in a bad state of the country when a independent supreme court nomination like this turned into a political campaign. it's a republican versus democrat issue. that should not be. it is not always been that way. and we should get, try to figure out how to get back to the senate's constitutional role here. i know that sounds pollyannish, but it is really important that we try to do that. neil: sir, you've been very patient. my crew has, keep going long,

cavuto, shut up. but i can ask you this. this concerns behavior of two people in high school. if it merits the attention it is getting, i'm not saying it should or shouldn't, is that a new, is that a new precedent that worries you, we're going back further than we normally would in these sort of background checks? >> you know, neil i think that everybody is going to judge this on its own. if what happens, if what dr. ford said happened is true, it is a very serious criminal behavior. and if you couple that with continued denials, people are going to have to make their own assessments on a case-by-case basis. let me say this. which are talking about a lifetime appointment to the united states supreme court. i think the bar needs to be pretty high for those nominations. neil: senator, thank you very much. belated congratulations again. thank you. >> thank you, neil. appreciate it. neil: we're following all of that. dow up 200 points, getting oh so

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>> i'm ashley webster on the floor of the new york stock exchange. despite everything going on in the world, trade tensions with china, doesn't matter, money continues to pour into the market. look at dow jones industrial average, up another 200 points today, about 170, 180 points away from its all-time high. we've seen a little bit of a pull back on the nasdaq. what are stocks gaining ground? big winners because of the 10-year treasury yield above 3%, that is good for banks, right? more money back on the loans. that interest rate. jpmorgan, goldman sachs, up nicely today, 2 and 3/4%. caterpillar a big trade play up higher, ge up as well as 28 cents, 2% gain. looking at s&p winners today,

bwa, borgwarner. bracks air up 4 and a third. take a look at the nasdaq, moving slightly lower. big tech pulling back a little bit. jd.com. tesla, doesn't matter what is going on with founder elon musk, the stock up again today 293 bucks. can that carry on? we'll wait and see. neil cavuto, doesn't matter what is going on in the world, money comes pouring into wall street thanks to strong economy and corporate profits. back to you. neil: you and i often said, ashley, people bet with their money what they think it will happen it carry as little bit more cachet. they're betting with your money too. it is something to watch. thank you, my friend, very, very much. >> sure. neil: ashley webster, to his point if the markets are worried about what is happening with the trade front, tensions, obviously supreme court battlefront, how

many times i said it, have funny way of showing it. not always accurate or pressure end, they're betting these crises shall pass. all this at a time with tensions of canada growing for them to secure a deal. the canadians we're told is strongly urged to get to the table and do a deal that no deal is not better than a bad deal, which has been the position of prime minister trudeau. we've got fbn's edward lawrence with latest how back and forth is going. sir. reporter: neil this is a critical week for the renegotiation of nafta. two sticking points continue. the first the canadians would like some trade dispute resolution that leads to arbitration in a deal. they would also like protections for dairy industries continue. canadian's minister of foreign affairs says, she regardless of the building pressure will make a good deal for canada.

>> we said from the beginning i am paid in canadian dollars. u.s. legislators are paid in american dollars. it is my job to stand up for the national interests. that's we've done from day one. that is what we continue do. >> trade experts tell me canadians need a deal in principal so they write the deal to give it to congressional committees. that keeps it on the fast track process. president donald trump said he is fine moving on without canada. they have an agreement with mexico. canadian president justin trudeau, feeling internal pressure. politicians in canada, starting to say, no deal is better than a bad deal. some are saying they just need to get a deal because the economic damage would be worse if they don't sign on.

neil? neil: thank you, ed lawrence. very, very much. we have been hearing from the chinese on trade front there. we're already hearing chinese number two premier lee kwan, i hope i'm pronouncing that right. i apologize if i'm not. we are facing greatest difficults in years. that auto tariffs themselves could make vehicles more expensive on both sides. i'm paraphrasing there. read from former gush former economic council advisor, glenn hubbard. we suffered and no that. that is view he espouses in china,. he said first time we take it on the chin. that is not a good deal. what is your sense hearing out of china on this? >> there is a need on both sides to step back and ask strategic questions. for the u.s., china really has been a bad actor in some respects.

intellectual property, unfair trade practices. but the right answer is not tariffs. it is getting all the allies together to help put pressure on china. that would be a better strategy. tariffs will not make anybody better off. neil: meantime everyone seems to be talking about the effect this is going to have on prices in this country as soon as the holidays. that if it doesn't directly affect autos, for example, it will affect auto parts. how is that going to go down? >> well it certainly will raise prices, even more important perhaps, it will disrupt global supply chains for businesses built up over decade. these frictions between the united states and china can be fixed short of this, unfortunate way on both sides. neither one will come out as well. neil: people don't forget, governments don't pay the tariffs. average folks do. now the individual businesses can try to absorb cost of those

tariffs so it isn't necessarily paying 10% more for a washer or car or 25% more down the road. they will absorb as much as they can to ease the blow. how much of that do you suspect will be going on? or will they pass it along, hoping that they're not punished for . >> ultimately it will be punished for it. most companies operate in competitive markets. ultimately consumers will pay the price, or if you own shares in firms, you pay the price that way. it's not just individuals, all of us that would suffer. it's a number of small businesses and medium sized businesses that are exposed to trade. this is just not the best way to proceed. neil: how do you see this all ending, glen? >> well, you know, it could actually end well. we could actually get a situation where the u.s. and allies do pressure china for a better outcome, but i worry we could stumble into something

much worse, and time will tell. neil: i like that time will tell. it's an out that we always have, right? glen, always good seeing you, thank you very much. >> my pleasure. neil: time will tell applies to the kavanaugh allegations and what comes of him, his appointment to the supreme court, whether it comes to fruition. republicans are saying it might be delayed, won't be denied. a lot of democrats are saying you don't delay it, it will be denied. after this.

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. >> it seems that the fbi doesn't do that. they've investigated -- they've investigated about six times before, and seems they don't do that. the fbi has been very involved with respect to justice kavanaugh, they know justice kavanaugh very well. they've investigated him i guess six times and investigated him for this hearing. neil: do you think democrats, on that committee, i know you're not on that committee,

handle this fairly? >> no, look, i think we have to be fair to judge kavanaugh. we have to be fair to dr. ford. i said that from the very beginning, neil, but the only way to be fair to everyone is to let the fbi get engaged in this, to look at the facts. that's what they're trained to do and do it all the time. that way when the senate does convene and the judiciary committee convenes, they're going to have more than a statement and denial. that way they can do things appropriately. neil: all right, being favor obviously is in the eye of the beholder and heated political times, getting word from the chairman of the judiciary committee, chuck grassley saying that brett kavanaugh's accuser must submit prepared testimony by 10:00 a.m. on friday if she intends to testify at the monday hearing. as for an fbi investigation, he goes onto say, the fbi does not make a credibility assessment of any information it receives with respect to a nominee. nor is it tasked with investigating a matter simply

because the committee deems it important. bring in the judge, judge andrew napolitano, is he right, judge? >> he's a dear friend of mine, i know him and love him, but i have a different view of. this there's an agreement between the fbi and the senate judiciary committee, and whenever the chair, speaking for the majority, wants a nominee investigated or reinvestigated, the fbi will do it. the president of course can do it with a stroke of a pen. now, we're talking about opening up a background check. we're not talking about a criminal investigation of an event that happened 36 years ago, that would be absurd because there is no statute of limitations still available for any criminal prosecution. so the purpose of the fbi investigation would be as a service to the members of the senate judiciary committee. we interviewed dr. ford for four hours, here's what she told us. as a result of what she told us, we interviewed this person, that person, that person, and

in our opinion, this person is consistent with her, that person is not. here's the raw data. that's what they do. that's what happened when anita hill, she didn't file a complaint, but made it known to the senate judiciary committee that she had personal information, she said, about then-judge clarence thomas and didn't want her name to be known. chair of the senate judiciary committee spent many hours with her persuading her to go public and to authorize an fbi interrogation of her, which she eventually did. the chair of the committee was then-senator and eventually vice president joe biden. neil: that was anita hill. >> right. neil: let me get your take on this. they have offered to go to christine blasey ford's home, wherever she is in california. send those away from the lights to tell her story.

because they want to do that before a monday hearing, rather than have the judge answering questions without the person who raises them there. >> i think it would be unwise and exquisitely unfair to judge kavanaugh, for him to answer allegations lobbed in the public domain through an interview in the "washington post." that is not the appropriate way to do it. he is basically responding to hearsay, what the reporter says, the reporter heard, the complainant tell the reporter. she, dr. ford, decided, perhaps reluctantly, she wanted the world to know information about his qualifications for the court. she has the moral duty to present what she says she knows in an appropriate forum and under a system, that forum is the senate judiciary committee. she can also present one other person to corroborate what she said. then judge kavanaugh can be respond. he would be unwise to respond to allegations that did not come out of the mouth of the

accuser. neil: in the fbi investigation itself, how long would it take? >> well, the anita hill one took about a week, i would say this would take two weeks because of the other people involved. they can't just interview dr. ford, they have to interview her husband when she had the revelation of repressed memory. the therapist who was there, and apparently she told somebody else about this after the therapy session but before president trump was president. neil: how will they be able to discern telling the truth? someone said something that is deemed later on not to be true, have they perjured themselves talking to the fbi? >> well, lying to the fbi, when it's conducting an official interrogation is a crime. it's a crime martha stewart went to jail for. she was not under oath and not a public hearing, it was a private meeting with the fbi. neil: each side is going to stick to their story. the judge is going to say it

didn't happen. >> he can't deny something until he hears what it is, otherwise it's like playing catch with jell-o, it is exquisitely unfair. he and his advisers have to be able to get their hands around what these allegations are, and that can only happen if she makes them in public. neil: if the republicans rush to vote now, it would come back to bite them? >> i think it would, it would be the perception they are mistreating this woman, who might be a victim unfairly, and there will be a taint on judge kavanaugh that will never go away until the public actually has the opportunity to hear the two of them. not at the same time, but -- neil: clarence thomas still became a supreme court justice. >> yes, he did. the committee chose not to recommend him and not to not recommend him. they sent it to the senate floor. senate controlled by the democrats, confirmed him 52-48. neil: legally, if democrats some, have expressed concern that they find the process of mockery, a sham, they have not

participated, may not vote at all. then what? >> i think they would seriously demean and reject their constitutional role of advising and consenting, if they don't vote at all. you know what started all this? is a nonvote. the way the republican senate treated president obama's nomination of merrick garland. the democrats have not gotten over it and fighting that battle. they feel the seat that went to now justice gorsuch was stolen by -- doing air quotes -- to emphasize the use of their word by mitch mcconnell, who refused the senate to allow a vote on merrick garland and haven't gotten over it. they may be participating in something just as violative of the senate's role. neil: if a democrat gets in power and back and forth and back and forth. >> doug jones, senator jones who you just interviewed is right. this is not the way the framers

intended for the president to nominate and the senate to advise and consent to members of the court. neil: well put. judge, thank you so much. >> welcome. neil: let's get the political read on all of this to real clear politics co-founder tom blevin. where is this going? delayed? denied? cap oot? what? >> seems the hearing on monday, she lost leverage, you've seen republicans come back. senator corker, senator flake and others say if she's not going to testify, we have to move forward. you think it's actual leashing once that happened, the leverage moved back in favor of republicans, and looks like they're going to go ahead with this vote. if they can't get any sort of testimony, they're not just going to delay this hearing indefinitely.

neil: we interviewed senator jones and obviously heard from the judge, the most you talk about is delay of two weeks to go through fbi investigation, i don't know how long these things take, what would be the harm in that? >> well, i think -- look, again, i think part of this is the way that the democrats have handled this, the way that feinstein had this allegation for weeks and months, never brought it up, even in private conversations with kavanaugh. didn't have to disclose. her excuse was she wanted to protect this person's anonymity. she could have raised the issues with kavanaugh privately or publicly without using dr. ford's name and got a response, but they didn't do it that way. seems 11th hour, last minute partisan stunt, and while republicans want to be, and chairman grassley handled this very, very well, to go out of his way to try to accommodate her, make sure she was heard, and was able to testify.

once the refusal came, and the idea that somehow they're demanding an fbi investigation before she's willing to toy. first it was we got to have a hearing, and grassley says we'll have a hearing, no, no, no, we can't have a hearing until we have the fbi investigation. i think politically that speaks to the weakness of the case, and that's why i think republicans are going to move forward, if they can't get her to come forward and testify either publicly or privately, there's not much to do other than to move forward with the vote. neil: so crass politically, whose voters are jazzed or angry about this? democrats who feel republicans are stomping all over them and don't care? or republicans say wait a minute, this process is taken advantage of and democrats are doing it? we are going to go to the polls to put a stop to that kind of stuff? >> that's a great question, we don't have data because it just happened. democrats are energized around the nomination.

we saw that at the hearings. there's plenty of data to support that and republicans, this is the reason, trump referenced this, this is the reason he was elected in the first place, and people like the gorsuch appointment. they are well behind kavanaugh as well, so the way that kavanaugh is treated is energizing republicans where. it actually comes out, if it motivates one party or the other on election day is hard to tell. both parties are feeling aggrieved and energized by the whole process. neil: tom, good talking with you, tom bevan, real clear politics. so much coming up. people are saying, we got the inflation thing to worry about, but helping bank stocks, financial issues on the belief that improved economic activity, that's a good thing, and for financial issues that this unfortunate role in the

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region, damage by hurricane florence, tropical storm florence, the president is promising all the support they need in that state, in those states. keep you posted on. that mean while keeping a very good eye what's happening at the corner of wall and broad with the dow about 160 points away from one. the s&p is not far away. in the face of this, higher interest rates, which you say wait a minute, doesn't make sense but helping big bank shares and all this uncertainty around judge kavanaugh and around trade, it's not adding to any angst in the financial community, they're buying thinking this too shall pass. will it? let's go to susan li, adam layfield and ben phillips. ben, what is driving this, that everything else you would think that the markets are out of touch, or maybe they're just accurate? >> i think you're seeing such

strong u.s. growth where, people are looking through this trade right now. we still think it's the biggest risk, a strong consumer, strong gdp growth and industrial activity. only thing we're seeing is pullback in imports, that is something we watched in august, we're concerned about that. not giving the market angst, giving me angst, someone as a portfolio manager to determine where the market is going, it's going higher and higher. neil: what do you tell investors, don't worry, obviously we can stay happy? >> we say watch trade closely. neil: trade is the biggest issue. >> the biggest risk for markets in our opinion. neil: is it still, john? >> yes, it is. i worry about trade policy. not a thought-through policy but small percentage. we imported $2.9 trillion. when you add the $200 billion of extra tariffs at 10%, less than 10% of total imports which is a fraction of total gdp. a fraction of a fraction. this is not that big right now. it could escalate that as a

concern, the market is looking at it as this is not a big deal. neil: susan you lived through the and can attest to the mood and china number two, the premiere goes on record saying we're getting worried, i'm paraphrasing here. is that a preview to blinking? >> i feel like it's conciliatory. that's what i heard at the world economic forum in tianjen. shouldn't we be encouraged there is rotation taking place. all the names of technology that took all the names for the year, the rotation out of them, dividend payers, yields like telecoms, utilities, and we have more breadth in the market. i'm encouraged, actually. >> the apples, the alphabets, the amazons are sucking wind in september, all the other boring names, we call them boring because they are not that flashy are the ones carrying the load. >> that's right.

we've been investing in boring names and finding the opportunity. neil: they are boring. >> the portfolio is 25% health care, sorry 21% health care. >> is that right? >> still aca tailwind. this is a long-term policy tailwind. we're only in the first year of tax reform. that's driving stocks in the portfolio. >> yields are up at 3%. banks are having best in two months. >> our financials haven't had the best year, starting to pick up, and the nontraditional lenders, seeing the deregulation from cfpb, they're seeing the biggest deregulation. neil: i was talking to her during the meltdown ten years ago this week, concern then is the same now oddly enough, don't let these guys get away with murder. however better capitalized they are, they're not ready, and we shouldn't be ready to rescue them if they're not ready. what did you make of that? >> too big to fill.

i don't think anything has changed. i don't think dodd-frank changed. neil: if citior bank of america, we wouldn't let them go. >> we didn't deal with the problem of derivatives. >> by the way, all that extra capital wouldn't save you in the middle of a meltdown. >> jpm has 2 $1/2 trillion of assets in management, that was 1.3 million impenetrable balance sheet by jpmorgan and jamie dimon. banks are bigger now, maybe they're bigger to fail. neil: did you ever think we would lose 5 trillion in financials on a day. >> they are the ones who didn't see it. so it is impossible for them to fix it. talking about derivatives of derivatives. they don't understand this. two people in the market, dod and frank missed it, and you

put dodd and frank in charge to fix, it they didn't fix it. >> we're in the era of living wills. wouldn't you think the banking system is safer? >> all the risk from the private sector to the public sector balance sheet. not seeing a derisking of the global economy. neil: we patched debt problem with debt, right? >> we're going to have trillions in debt. neil: do you worry about that? how it looks for your generation? >> absolutely. debt is pulling forward future consumption. that's the biggest risk. neil: we get variations of different crashes at different times. what would be the next thing that you worry about? >> i worry about a bond market blowup potentially. a question of governments and sovereigns balance sheets, even the u.s., when the debt is so high, when you look at gdp, people have issue with that. when you look at leverage in the economy in the u.s., it is

unsustainable and growing at unsustainable clip as we get to one trillion dollar deficits. >> i think i'm dodging the bullet agewise, but i don't really care. is it your sense this san imminent issue? >> it's an issue, there's no difference between the guys. the debt doubled under president bush and president obama and now back to trillion dollars. there is no difference in fiscal responsibility between either party. neil: going address it? >> none whatsoever. everybody is kick the can down the road, it's not imminent but we have a problem with inflation were to kick, in rates have to go up. we could be a problem with our government. >> the president says you can grow out of it. >> you have to grow out of it. all the debt is like an interest rate hike. >> the fed is going 3.5 trillion and ramp up to 600 billion annual run rate. it's going to take five years to get the balance sheet to a normal level.

>> at least. neil: the economy is going at a good clip. moot point. that's what the president is saying. >> let's see where the economy is in a year or two. we're going to have a pullback. >> no politician can take a trillion dollars out of the economy and get re-elected. some of the best funding out there as far as people's jobs. neil: a trillion is chump change these days. we have a lot more coming up here. interest rates at a four-month high. the dow close to an all-time high. more after this. some say the oldest living thing east of the mississippi. it's weathered countless storms. battered, but never broken, it stands for the resilience within us all. ♪ . . . .

neil: we might be obsessed in the media about all these cost currents going on but investors on wall and broad are not. the dow racing along with broader market averages. trish regan is here. trish: thank you, neil. president trump is in south carolina meeting flood victims. the president promising folks there that they are not alone. together as a country we'll get through all of this. all this happens as we have a big rally going on, up nearly 200 points on the dow jones industrial average. nasdaq a little bit lower. take a look at the upside on the dow, 26,443. i am trish regan. welcome, everyone to "the intelligence report." ♪ also breaking today,