the winner of the pun contest is steve forbes. he gets a free hamburger compliments much bill deblasio. >> i have no beef with that. david: thanks for watching "bulls and bears," we'll see you next time. president trump: we are going to be issuing an emergency order of prohibition to ground all flights of the 737 max 8 and 737 max 9. any plane in the air will go to its destination and be grounded. the safety of the american people and all people is our paramount concern. liz: president trump ground all 737 max airplanes. both the dow and boeing bounces

back at the end of the day. the faa says satellite data shows similar flight patterns between sunday's crash and the lion air flight out of indonesia. canada earlier today also grounding the boeing planes citing the satellite data as concerning. >> the day of high drama with the future of the u.k. hanging in the balance. the deadline to leave the e.u. is less than three weeks abay way. actress lori loughlin is apparently in court right now facing charges for a $25 million cheating scam. she was taken into ski this morning. we are going to bring you all the court action.

plus we are digging deep. shine be a light on the parade of horribles and the dirty business of college admissions. liz: let's get to edward lawrence from washington with the latest on the grounding of the 737 max planes. reporter: the faa issued an emergency order that grounded 737 max 8 and max 9 planes. the two crashes of the boeing 737 max 8, one in indonesia in october and the second in ethiopia had similar flight

movements. president trump talked to other countries and the airlines and that led to his decision to ground the planes. president trump: it's a difficult decision particularly with a company like boeing with a track record that is oh phenomenal. they want it solved quickly. they don't know the problem yet. they have to find the problem. reporter: a wave of countries around the globe are taking the plane out of service. all of them on the ground right now. the faa says the black boxes are too damaged for ethiopia to read, so they are on their way to france and will be read tomorrow. it will tell us what was happening in the cockpit and what data thensumentser

receiving. one fix is a software update the faa is testing. that update was created following the october crash but has yet to be put into planes. the faa administrator says he's confident the update will be dealing with a stall function. but they are not saying that is the cause of the crash. the 737 represents about 30% of boeing's revenue. the company will be keenly interested in fixing this issue. so far incidentally only one airline says they will give the bill to boeing. region air says they have 18

planes flying. they say the company will be asking for compensation since they are barred from using the planes. liz: norwegian airlines is demanding boeing compensate it. he was needed to make split-second decisions about air traffic command and control. why did it take the president to act? >> that is a question that everybody wants an answer to because, you know, as of last night, faa and boeing were both saying things were fine, they weren't going to change their strategy unless they had updated information. we don't know what that updated satellite information was exactly. but somehow they were convinced that it was time to do something except the message came from the white house, not from the faa.

liz: canada found the satellite tracking data was of concern as well. 346 people were killed in both those crashes in the past five months. what do you think necessity saw on the satellite images. >> that's another million dollar question. because all they could probably see was the same movements of the aircraft we saw on sunday say on the flight aware system that would tell us if the aircraft was pitching up, pitching nose up or down, what its air speed was, how quickly it was going up or down. i have been scratching my head for the last couple hours trying to figure out what they actually saw. if they saw something or if they were just getting pressure the white house to do something. liz: the pilots clear have had a hard time dealing with this plane. let's take youa to a live shot.

the flight attendants' union has been saying it's a problem. american airlines has 24 of these planes, southwest, 34. what should happen to these planessage the ones that have been ordered. >> i think they will find out what the problem is pretty quickly. grounding of a new airplane is not inprecedented. we went through this with the 787 because of battery problems. once they found out what the problem was, they fixed it and it's been fine since. we don't know if what brought count ethiopian airplane is the same as what brought down the indonesian airplane. liz: the last time the u.s. has seen an airplane crash was in 2009. it's because we are a safe-flying community. we have tough regulations and

oversight. it's striking the faa took so long and the president had to step in to act. we need to get the details of what needs to happen there, do you think? >> absolutely. there has been a lot of discussions online, and i have had on the phone with people that said all the other countries in the modern world are saying out of an abundance of caution we ought to ground this airplane. i think possibly they thought it might spur the investigation a little bit. but it didn't happen except we were the last ones to hold on. the fact that the faa and boeing held on so long, it makes it look like there was something else going on. it could be just coincidence, but course it's how it looks that's important. liz: estimates coming in from wall street, it could cost boeing $5 billion to ground

these planes for however long it will take. let's get to today's market action with gerri willis at the new york stock exchange. gerri: major averages all finishing in the green higher today. the nasdaq up 53. but it was almost not to be at the announcement about boeing at 3:18. the president saying the faa would ground the 737 max plane, the boeing plane that's the source of so much controversy. meanwhile, boeing which was on pace to have 8 straight days of losses turning around today finishing half a percent higher. united stock was higher today. the supply chain for boeing.

aeroparts suppliers and spirit air systems be their stock is lower today. liz: brexit breakdown. the british leaders voting to never leave the e.u. with an exit plan. we'll bring you the jaw dropping crazy you have got to be kidding me details with the largest ever college admissions cheating scandals. the ceos, the athletic photos. this is affirmative action for the wealthy. could other families file class action suits because their kids didn't get in? we'll have that story next.

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liz: a judge just ruling "full house" actress lori loughlin can be released after posting $1 million bond. it's the worst case of college admission scandals we have seen in this country. she can travel in the u.s. and british colombia where she is currently filming. let's take you through what happened here. it's the worst college emissions scandal ever prosecuted. this blows the lid off how sick our university system has

become. it gouges american families while lecturing the rest of us. it's selling gold chipped school pen and the. gillian, this was the jaw dropper. >> the details of this are hilarious. photo shopping your kid's face on an athlete's? when you get to the testing place try to be a little bit slow so you can buy some extra time. it gets to the heart of what's going on in education. it's not a merit-based system. you can have too much privilege and abuse it in this way. or we have affirmative action where student are playing off identity politics to get in. student who work really hard don't pull stuff like this.

liz: the families whose kid didn't get in could file class actions suits. the hallmark actress lori loughlin was in l.a. to answer the charges. i want to get to the nitty-gritty of some of the details going none this case. fake ringers paid to take s.a.t. tests. fake profiles with photo shops pictures. fake claims of learning disabilities. a scam ringer will step in and take the s.a.t. test. the under belly is they are operating on our nickel. >> they are saying this business getting yourself prestige. it's will turn out college activists.

but the kids who cheated to get in, they should have flunked out. that shows how non-rigorous the education process has become. liz: we had one kid set to be a basketball player. they put him down at 6 foot and he was 5'5". ifelicity upman's husband was on -- huffman's husband was on the phone but he wasn't charged. everybody knew if you gave your money to a university to get your name on a building, that was waffle, too. what can be done? i covered the irs and taxes for years. i always was baffled how

universities could build the gigantic endowments the size of hedge funds and not have skin in the game. what's your take on that? >> i think a good answer to this would be emphasizing merit. any system is going to have its weak spots that can be cheated and exploited. but we have a system that privileges the underprivileged. i don't think that's fair to anyone. liz: it's all about conferring legitimacy. do you need a blue chip pennant to get ahead in this world? >> two of the most of successful journalists i know don't have a college degree and never looked back. liz: and peter jennings, right? i don't know if congressional hearings will fix the problem. it's the tax exempt status of

these universities. >> you see the administration growing and growing. we providing mental health spaces and safe spaces to play with play doh and crayons. and it's starting to show. liz: a worldwide glitch hitting users of facebook in its apps including messenger. it blocked sending and receiving messages and made it impossible to post new content. reuters reporting pat pg & e will be spared criminal charges in the wild fires in wine country. pg & e potentially liable for damages. fiat chrysler recalling the

dodge journey, avenger and compass for failing to meet federal emissions standards. the crisis? venezuela. day 7 of the blackout. hospitals, many of them still out power. citizens desperate for medicine. food that is spoiling. water that is polluted, they are drinking it. coming up, we told you all the sordid details of the hollywood celebrities and wealthy parents in the country's biggest college emissions cheating scandal. beyond the salacious details there are serious implications. we'll break it down with a former federal pros cuter. law makers reject a no-deal brexit. that's coming up.

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liz: the u.k. parliament stroaght rule out leaving the e.u. without a brexit deal. ashley webster tonight studio. >> it's the groundhog movie that goes on and on and on. parliament voted to take a no deal off the table. but it's not binding. it's purely symbolic. article 50 which is the divorce agreement is a no-deal exit. er reelsa may, they will -- theresa may will ask them to go to june 30. there could be one country out

of the 37 that said i don't like that she will come back to parliament and the deal she has had that has been heavily defeated twice in a row. she may put this back to parliament. saying sheer is the deal. you pass this and we'll get out. the fearing about the u.k. will still be trapped in the e.u. because it can't come teen agreement. then who knows. maybe a second referendum. liz: three years of meeting after meeting. and meetings into irrelevance. >> every time dream back there, they are very upset. they have given up on it. they are fed up, they don't

think they will get what they wanted. they just want it to be over. brexit fatigue. that's the problem. parliament doesn't want to leave the e.u., and it's not representing the people who voted to leave the e.u. and we have political deadlock from that. you know who's really fed up to ashley's points? nigel farage gave a withering speech on the floor of the parliament. he's on the phone with me now. tell me what you told parliament today. >> basically what's going on here, we are suffering from a complete betrail of our democratic vote. it was perfectly clear what we voted for. we literally have been detrayed. we now have a political class

not representing ordinary people. the whole thing is one of the saddest chapters in the national history of our nation. it's a disgrace. a parliament full of liars. liz: ashley said you gave a withering speech. >> i did. i said to them, the truth of it is, all of you, all of you here are members of a political class. you wanted to build the united states of urine. you want a european army that would destroy nato. maybe it would be better we did leave for everyone's points of view. liz: does u.k. need an executive action saying i'm leaving? the people much england said get out three years ago. >> the problem is, the fish rots

from the head down. theresa may is broken. she tried to find a middle path. abraham lincoln was right. you can't please all the people all the time. and she has failed completely and utterly. now we head to the next humiliating stage where she'll go to the european union and ask for an tension from the date we leave to extend it out 9 months to a year. this is a very, very bad moment for democracy, for trust, for faith. i never in my life met so many ordinary decent working people so angry and upset with what's going on. liz: nigel farage, thank you for coming on. house speaker nancy pelosi

getting pushback for saying she opposes impeaching president trump. but congressman adam schiff agrees with her. we'll take you back to the biggest college tuition scandal ever. rich parents bribing to get their children into elite schools. and the legal firestorm they are now facing. the debate on that coming up.

liz: a judge just ruling that actress lori loughlin can be

released after posting $1 million bond in the college bribery case. 761 families tbriebd get help for their kids to get into school. with me now is legal eagle former federal prosecutor. first your reaction when you heard the news about this story? >> this is the epitome of entitlement it's disgusting. liz: how serious are these charges? >> they range in seriousness with mr. singer, the leader of the operation to dozen of crimes in jail. the crimes from the parents' perspective a maximum of 20 years. but when you look at the federal guidelines they are looking

likely 15 month to 30-month range. that's where the maximum jail time will end up for the parents. liz: do you think the parents will see jail time? >> i don't think most of o -- of the parents will see jail time. it's largely dependent on the amount of money that was exchanged. there is a calculation to how much value was there to this fraud. if the judge considers it to be a high amount, then he's going to be obligate or she, obligate to give some jail time. liz: the parents bribed, and they got value back with their kid getting into the school. is that the present cities in. >> that's right.

when there is some sort of mail fraud or wire fraud, the sentencing guidelines come down to how much money was part of the fraud. liz: the schools have not been charged. could that change? >> i don't think it could change for the schools. the u.s. attorney was clear there is no evidence that the schools themselves knew what was going on. liz: there were so many coaches at so many different schools. maybe this does run deeper. in other word there is something wrong culturally at these universities. >> i do think there is a real issue going on institutionally that this could have happened. the problem from a criminal perspective. and this goes back to a supreme court case connected to the

enron scandal. somebody has to be getting money out of the deal. if the schools don't know or aren't profiting knowledgeably of the fraud itself, there is no crime. liz: let's talk about the children or the parents of children. the children who do not get toib these schools. they were iced out. we know what this shows is how ugly the university system is. there are tax-exempt real estate models, giving spots to athletes but not academics. is that actionable? >> anything can be subject to a lawsuit. i think we all know that. the question is, is it going to be a winning lawsuit? i don't any delays legitimate chance for a lawsuit to be successful against the schools for the student iced out.

you had to show that the student was somehow damaged by the idea they didn't get in. >> some the student who got in did not deserve the spot, right? >> absolutely. they will be owb jected as they should to expulsion from these schools. liz: the irs will want answers as well. felicity huffman took that $15,000 bribe and it looks like she deducted it opening her tax return. could bill macy be at risk, too? >> were we have federal crimes like this. the question is was there some sort of tax fraud that occurred. with regard to william h. macy, there is not a good explanation as to why he wasn't charged. look at the transcript it

doesn't look like he was as involved as felicity huffman was. and there are issues regarding he haab to be specifically involved in the exchange of money to be the same crime as miss huffman is involved in. liz: one couple paid as a bribe about a quarter million in facebook stock. the level of detail of this is striking. the fact that it's going gone on since 2011. it's been going on for 8, 9 years. >> can you imagine the feeling of those involved in this who weren't charged yesterday. i think the american people hope the federal prosecutors don't stop with just the people yesterday. anybody doing this, that's a

criminal act and should be brought to court. liz: coming up, a battle royale happening in the democrat party. dems duking it out with fellow democrats. critics say they are spending more time dealing with inner turmoil than they are on policy for the road to 2020. increasingly high stakes between two top dems we haven't seen battle each other in public just yet. house intelligence committee share adam schiff says he's with speaker pelosi, supporting speaker pelosi not pursuing impeachment charges against the president. it doesn't mean he's taking his foot off the gas on the other things. we'll ex main what he's up to next.

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liz: president trump thanking nancy pelosi for saying impeachment is off the table. the moderate democrats gave her the gavel. if she does a partisan rush to

impeach the president, she'll lose the house. that's what the d.c. inside the beltway thinking is. she knows impeachment is a political process. not just a legal one. this is house intelligence committee chair adam schiff largely supports pelosi's position. he says impeachment is a possibility, but he's backing off for now. now he's talking about looking into russian money laundering as it per tan is to the trump organization. >> if there is insufficient evidence in the mueller report and we are not able to produce sufficient evidence in our own investigation, that ends the inquiry. there may be ground for removal from office or indictment after he leaves off that the congress discovers. one of the issues we are look at

is wither the russians were laundering money through the trump organization. liz: former trump campaign manager paul manafort was sentenced to an additional 43 months in prison. that brings his total sentence to 7.5 months in prison. he was hit with 16 new felony charges. they include residential mortgage fraud. falsifying business records. we'll get back to what adam schiff says. patrice, what is your reaction to what adam schiff is saying now? >> i'm not surprised. the writing is on the wall very likely the mueller investigation will couple with no evidence of collusion, and that's something the democrats hung their hats on and the freshmen campaigned on.

he's saying if the investigation does jtd come up with anything we'll investigate the president for something else. that drags out the undermining of the president and everything he's trying to accomplish. >> what will be necessary to make an impeachment in a bipartisan process? sit would have to be extraordinarily clear and compelling. i don't propose the possibility that the mueller investigation will produce that or our own will. but the speaker is right. in its absence impeachment becomes a partisan exercise doomed for failure. i see nothing to be gained to put the country through that wrenching experience. liz: he also said nothing is worse than a failed impeachment

proceeding. he said sit would be horrible and traumatic for the country. >> it's like the slow leaking of air out of a balloon. democrats have an inflated balloon. they believed they were going to find collusion and take down president trump. now that balloon is collapsing. they are recognizing, there is nothing there. >> we don't have the mueller report just yet. >> we don't, by the seems like they are expecting there not to be anything the mueller report. nancy pelosi said in the washington post article this week, she reads puck sentiment. public sentiment is where it's at. 59% of americans say congress should not impeach president trump. i think democrats are recognizing if they push forward with impeachment without public sentiment behind their backs and with no evidence, then they are going to be up a creek without a

battle come 2020. liz: slow walk these democrat probes to damage the president in his reelection chances. is that what you see the democrat party lining up to do? slow walk it. >> absolutely. absolutely. what better way to grab headlines than to say we are investigating president trump or everyone in his orbit for x, y and z. that distracts americans from the headlines around the economy, around the workforce. nose are the things the president is likely to run on and conservatives are likely to point to. it's a distraction tactic. they told us they were going to do this. liz: i wanted to fix something i said earlier. manafort is facing a total of 7 years in prison.

not 7 months. i misspoke there. democrat cross democrat. alexandria ocasio-cortez versus nancy pelosi, ilhan omar versus barack obama. but the main event hasn't happened yet. it could be the mother of all fights. we'll tell you what it is. cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.

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has not gone down yet. i'm talking abbernie sanders versus joe bidessen. they're neck in neck. let's bring in vince ko. the middle of the road moderate or corrate tool joe biden. this looks like the bernie sanders' camp is taking on joad biden. what's your response on this? >> when you're seeing headlines attacking him as not sufficiently progressive enough meaning joe biden, you can suggest it's bernie sanders' camp planting the stories. he's trying to divide himself. they want to convince, the sanders' camp does, the democratic base that joe biden is insufficiently progressive and not qualified to be in a presidential race. this is gearing up to be a blood bath and it could very well work to the benefit of the current president of the united states who is going to take advantage of all of this chaos. >> joe biden has been around since the nixon era.

joe biden is well aware. and now he has not officially announced his running yet. he's hinting at it. do you think bernie sanders gets put in the back seat if joe biden comes out? >> i don't think so. not quite yet. first of all, they have high name id. they're at the top of the field for the moment but that's not going to last very long. they're both similar in some important ways. they're old white men. and the democratic party has an appetite for something very different right now than someone who looks like joe biden and bernie sanders. even bernie sanders himself tried to get out ahead of this saying we don't need to look at somebody's race when considering somebody for president were or somebody's age. it's going to be very hard for either of the men to be at the top of the field. >> behind the scenes they don't

like each other's positions at all. certainly senator elizabeth warren has taken objection to joe biden's position on bankruptcy for consumers. joe biden pushed back against that, in delaware, the credit card company. keung they'rdo you think they'ro at it once this fires up in the summer? >> yes, i think that do. they're try to prime each other in a variety of hypocrites. you'll see elizabeth warren attacking joe biden for that. you'll see her attacking db they'll be going back and forth over the iraq war certainly. you're see attacks on joe biden. the anita hill hearings, on and on. an elizabeth warren hap has demonstrated hypocrisy all over the place. >> so i jus since you've been g.

thank you so much for coming on. thank you for having us in your homes. thank you for watching. "lou dobbs" is next right here on the fox business network. have a good night. ♪ ♪ lou: good evening, everybody. the red storm has arrived. china carrying out acts of espionage and war. aggressively targeting the u.s. military and defense contractors in massive cyberattacks over the past five years. and without cyber counter attacks from the united states. without any response whatsoever, it appears. our intelligence agents asleep, perhaps helpless as the world's largest nation is at this very moment steal some of our most secret sensitive technology. threatening america's status as the world's only supow