kind of erupted now into a bigger story. i think it's getting worse on college campuses, to be honest with you. >> i'm afraid to send my kids to college. maria: what happened to diversity on college campuses? diversity of thought? >> college is too expensive. >> i know we have to go. i will shut up. tomorrow. maria: stuart varney takes over right now. stuart: you surprised me. here i am. good morning, everyone. maxine waters just gavelled her financial services committee to order. you are about to see political theater at its worst. ms. waters has ordered the leaders of america's top banks to appear before her. she detests the banks which she now regulates. she says she will do to them what they did to us. she blames the banks for the crash a decade ago. now, the bankers themselves, they have done the equivalent of a perp walk even though they will say today the system is stronger now thanks to regulation. they passed the stress test and

they have much better capitalization. more money. the democrats on the committee not going to listen to this. they don't want to hear about the dynamic trump economy. they are out to embarrass capitalism. socialist alexandria ocasio-cortez will be doing the questioning today. one of many. just a couple of weeks ago, she tried to connect wells fargo to children in cages on the border. it may be instructive to look at what happened yesterday when ms. waters questioned the treasury secretary. watch this. >> i have here every single time jack liu and other people came here. there's never been anybody that's been here longer than three hours and 15 minutes. i've sat here for over three hours and 15 minutes. i told you i'll come back. i just don't believe we're sitting here negotiating when i come back. we will follow up with your office. how long would you like me to come back for next time? i've told you i will accommodate you. >> i appreciate that and i appreciate your reminding us of the length of time other secretaries have been here.

this is a new way and it's a new day. it's a new chair. i have the gavel at this point. if you wish to leave, you may. >> can you clarify that for me? >> yes. clarify if you wish to leave, you may. >> so we are dismissed, is that correct? >> if you wish to leave, you may leave. stuart: it went downhill from there. you can expect the same kind of hostility today and some of it, i repeat some of it you will see. president trump's on his way to texas. he's going to sign an executive order on drilling and pipelines. he wants to speed up oil production and get it out to the market with faster pipeline construction. good. rising oil prices have moved gas up more than 50 cents a gallon in just the last three months. okay. all right, everyone. we have news on uber. israel's election, and a record

night on "jeopardy." "varney & company" is about to begin. mr. sloan, why was the bank involved in the caging of children and financing the caging of children to begin with? >> i don't know how to answer that question, because we weren't. stuart: alexandria ocasio-cortez will be doing some questioning today. as you saw, that was an awkward moment between aoc and the wells fargo ceo on capitol hill just last month. the democrats will be at it again when they grill the big bank ceos. joining us, liz peek and james freeman. first to you, liz. i think there will be a lot of this hostility but the banks will not suffer. it won't affect the way the banks are run or bank stocks. am i right or wrong? >> you are totally right, because the banks are doing very

well and in fact, they are going to argue that they are much better capitalized, they have followed the new regulations, they are in very strong shape. they are not in jeopardy of being involved in the kind of crisis we had a decade ago. you know what, i was glad to see secretary mnuchin push back against maxine waters. the ethically challenged maxine waters. it is time that this administration began to stand on their two feet and say stop with the hostility. this is an administration, this is a white house, enough of this. anyway, the banks are not going to be probably quite so aggressive, but they are on high ground right now. brian moynihan set the bar higher for this hostility by raising the wages of bank tellers this past week, very seriously raising wages. stuart: $20 an hour. >> that's a great message. that's capitalism at work. you treat us well, we do well, we will share that with our workers. they are beginning this session on the high ground. stuart: james freeman, what do you think?

is it going to be political theater, i think of the worst sort. what do you say? >> it looks that way. i also was not involved in the caging of children. stuart: you will be connected. >> so you say. >> this political theater, this alleged point of this hearing is to look at the health of banks ten years after the financial crisis, what's changed. this is the memo chairwoman waters' staff sent around about the hearing. there is nothing in here about real estate, nothing in here about the mortgage crisis, nothing in here about what politicians did to force these banks or encourage these banks and encourage borrowers to overinvest in housing. that's how we got the financial crisis. there's also nothing in here about shrinking the taxpayer safety net and ending the phenomenon of too big to fail banking. political theater, yes. stuart: why is it that when i look across the media, whether it's television at night on the news or whether it's the "new

york times" or "washington post," whatever it is, i see nothing about this stellar economy. is the president not getting the message out of tax cuts work? >> certainly he's not gotten the message out that people got tax cuts. this is kind of amazing. i think a lot of it, you can blame on media coverage even though essentially, the vast majority of taxpayers got tax cuts. they don't seem to realize it. stuart: or the benefit of tax cuts. if they didn't get an actual tax cut themselves, the economy got a tax cut and it's growing rapidly, employment is way, way up and unemployment down. >> that part, people get. that's what's interesting. even though a lot of people seem not to realize they got tax cuts, they see the good economy, they see the jobs and that's where you see in polling, the president consistently has positive approval ratings on the economy. stuart: the headlines tomorrow morning, liz, will be all about the insults leveled at bankers, nothing about the successful economy. am i right?

>> totally right. look, in a recent battleground poll, battleground state poll, 58% of voters would-be voters say they approve of what trump is doing with the economy. that is very, very dangerous for democrats. the last thing the media wants to do and let's face it, the media has a point of view and they are on the side of the democrats, is to perpetuate the idea the economy is doing well. as james said, people know it's doing well. but the tax cuts was a serious messaging shortfall. stuart: maxine waters, you see on the left-hand side of the screen, has just said the banks are too big to manage themselves. what else did she say? and too big to serve their communities. okay. i think we know where we are coming from here. let's have a look at futures, see how we are going to open up this market. it's wednesday. i have been away for a couple of days. i have to get my clock back in order here. it is wednesday all day. we will open up 20 to 30 points on the dow industrials. check out delta airlines, please. they came out with a rosy forecast. they looked at the future and say it's going to be pretty good. that stock is up 3%.

look at boeing, however. two stories there. shareholders are suing over the 737 max jet crashes and they have had no commercial orders for the max jet throughout the month of march. that's the first month without a sale of the jet in almost seven years. the stock's at $368. first there was lyft, the lyft ipo. now rival uber just around the corner. what's going to be the value of uber when it hits the market? susan: $90 billion to $100 billion in valuation, higher than what they were valued at their last private fund-raising round, at $76 billion but much less than many had anticipated because they had their underwriters possibly value the company at $120 billion. they are still trading below their ipo price yesterday, just around $67 or so. they listed at $72. they are going to raise about $10 billion in cash. this is mostly new share

offerings as opposed to insiders and venture capitalists and early investors getting out. there will be a small portion of that available for investors but according to reuters, this is all being reported by reuters and their sources, it will start on april 29th. expect an early listing in early may but of course, it is subject to change depending on the market conditions and whether or not they get the fulfillment and interest they are looking for. stuart: but, they are selling shares and they will take in a lot of the cash, a lot of the $10 billion, they, uber, will take in. susan: second largest ipo since alibaba raised $14 billion back in 2014. this is a lot of cash at play. uber is a much bigger player than lyft, they operate in 70 countries with food delivery, freight, self-driving. this is a much bigger play. stuart: sure is. check futures. again, it's wednesday. we are going to be up 20 or 30 points for the dow. please remember we were down 190 yesterday, up maybe 30 this morning.

still well above 26,000. here's the headline for you. the acting defense secretary says war is coming to space and china is our likely opponent. how are the chinese weaponizing space? we have some ideas on that and will certainly tell you. benjamin netanyahu is on track to win his fifth term as israel's prime minister. did his hard line policies secure what looks like his victory? we will tell you that, too. we are waiting for president trump to leave the white house. he's heading to texas, where he will sign two executive orders related to energy. if he makes any comment as we always say, you will see it pronto. >> welcome back to the u.s. stuart: lost the use of my mouth recently. "varney & company" is just getting started. fely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer.

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stuart: to israel election. benjamin netanyahu secures a fifth term. joining us, mike huckabee. he knows a thing or two about

elections. governor, looks like netanyahu's hard line approach seems to have worked. would you draw a parallel between president trump and netanyahu? >> well, very much in a couple of ways. number one, they both strongly try to make sure that their country is secure first and foremost. they both built pretty remarkable coalitions with other nations and changed the relationships. one of the things that netanyahu has going for him is an extraordinary relationship that he had built with almost every world leader and across the spectrum, from putin to xi in china, then to trump and to european officials. it would have been a huge mistake for the israelis to abandon him right now because they need a strong, experienced hand in the cockpit to fly through the thunderstorms they are going through. stuart: it appears that he has won. it certainly looks that way. it's not a conclusive crushing victory but looks like he's won. you agree with that? >> absolutely.

and really, you've got to remember in a parliamentary election as you well know, it's not just the votes of his party, the likud or the blue and white on the other side, it's the coalition. his coalition of right wing parties clearly has an overwhelming majority of at least 65 votes of 120 member knesset. he's going to be in pretty solid shape to be able to form the government and move forward. actually, it's his best victory, better than his victory in 2003 and the best one he's ever had. he's solidly elected. stuart: i just got a quick warning. we may be cutting away, i may interrupt you, because of the swearing-in of the seven bankers before the house committee. let me ask you this question. >> well, my wife interrupts me all the time. i will be used to it. it will be okay. stuart: sounds good to me. attorney general william barr is turning the tables. he's investigating the investigators. do you think that we are finally going to get to grips with what the doj and fbi did back then?

sorry, governor. here we go. swearing-in has begun. here we go. >> do you solemnly swear or affirm that the testimony you will give before this committee in the matters now under consideration will be the truth, the whole truth, and nothing but the truth, so help you god? if you will respond by saying -- [ inaudible ]. >> thank you very much. let the record show the witnesses answered in the affirmative. please be seated. each of you will have five minutes. stuart: i've got to say, that looks like an attempt to make them into tobacco company executives, kind of a solid perp walk. let's get back to governor huckabee. i asked about the barr investigating the investigators. you think we're going to get to the bottom of it? >> well, i was going to say, by the way, i'm glad you don't swear in your guests so that we have to tell the truth absolutely before we speak. we would really be in trouble

then. mr. barr has to do this. he has to do it not just for the republicans, not for trump. has nothing to do with the politics of it. he has to do it because otherwise, we are always going to have questions about whether the highest levels of our government, including the highest levels of law enforcement, were dishonest, dirty, conspired to go against an election, and then after the election, conspired to basically create a coup against a sitting president. this is serious business. it absolutely demands that we know the answers to those questions. stuart: wouldn't it be ironic if there really was a conspiracy to undermine president trump, and no conspiracy to get help from the russians? i honestly think that's what will turn up. >> well, i think so. there's an old testament story about building gallows for mordecai. it ended up that hayman was hanged on the gallows.

we will see what happens but i think it will be very embarrassing to people in the previous administration when we find out exactly what they were doing on the government's dime, on the government's time which means on ours, and corrupting the nature of their jobs. that's a big deal. a big deal. stuart: a big deal indeed. governor, always a pleasure. thank you very much indeed. see you again soon. i want to quickly check the stock price of tesla. it's going to be up, this is premarket, up 2%, on a report that lawmakers plan to introduce a bill to boost electric car tax credits. that's very good news for electric car makers like tesla. futures pointing higher, not by much. we were down 190 yesterday, up maybe 20 at the opening bell today. now, one guy sets an all-time record for the biggest single game prize ever on "jeopardy." he's not done yet, by the way. he will be back on the show again tonight. wait until you hear how much money he's already won.

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>> booger. >> how much did you wager? 38,314. a new one-day record. stuart: wow. how about that. how much was that? susan: who is james holtower. he has to answer in a question. he won $110,000 in one night. record-breaking. that tops the previous record of $77,000. who is james? he's a 34-year-old professional sports gambler from las vegas. stuart: really. susan: you have to know when to take the odds and make the right bet. strategy is involved. stuart: on your screen, you just saw jamie dimon, perhaps america's best known banker, testifying in front of the house financial services committee. i believe he just finished or just about to finish his opening statement. any fireworks, we will get right back to it. that's a promise. i want to get to the college admissions scandal. lori loughlin was indicted on an

additional charge of money laundering. that's a serious thing. didn't she turn down a plea deal? susan: reportedly she had a plea deal on the table, which the feds had offered her two years behind bars and lori loughlin, being a famous celebrity and her husband, they basically said no, we are going to fight this. now they are up against a more serious charge of money laundering on top of bribery and mail fraud. unlike felicity huffman, the "desperate housewives" actress, she pleaded out. expectation is she might get four to ten months, or they might negotiate that down to zero. with the more serious charge of money laundering with lori loughlin and her husband, people are thinking there might be some serious jail time. >> she spent half a million dollars to get her daughters into usc as oh piepposed to fel huffman who only spent $15,000. that also weighs into the calculation of her prison time. stuart: you think they will make an example of her and send her to jail? >> it seems very much like

that's possible. part of the problem is her attitude hasn't exactly been cooperative and humble. what everyone is saying is this isn't the oscars. you have to actually come in being sorry for what you did. susan: celebrities don't go to jail. stuart: bank executives testifying. they are saying the system is better off than it was before the crash. we open the market shortly up about 30 points. we'll be right back.

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stuart: ceos of the big banks are on capitol hill right now testifying before the house financial services committee. so far, all we've got is opening statements but joining us now is kevin froma. he represents the big banks and is at the hearing, just outside the hearing room. kevin, are you prepared to be insulted and harangued? i think that's all you're going to get. >> stuart, good morning. first of all, i think as you know, we have a $20 trillion economy in the united states which is the envy of the world, and these large institutions are key to serving that economy by partnering with businesses large and small, and consumers, millions of them, and we have a system that is far stronger than it was before the crisis and that is the purpose of this hearing. it's to allow these ceos to talk

about -- stuart: kevin, that's not what you are going to hear out of this hearing. that's not it, is it. tomorrow morning, the headlines will be out about how wicked these bankers are. that's what you are going to get. >> well, we have already heard some of the comments from members this morning and i have to tell you, many of them want to talk about where this system is and what these institutions do and their view of capital markets across the world. we are just opening up these markets in the united states. that is a big part of what they do. there are going to be other questions -- stuart: kevin, i've got to go. the market just opened. we will get that point of view in. that's a promise. thanks for being with us. i know you are busy today. check the big board. we have already opened up this wednesday morning. we have opened to the upside, a 40-pai 40-point gain as we speak. about two-thirds of the dow 30 in the green, up this wednesday morning. how about the s&p 500? a broader based -- yes, exactly the same percentage gain, .18%.

how about the nasdaq, the technology stocks? again, we've got a nice gain there. it's exactly the same as the dow and s&p, .19% gain. liz peek stays with us. shah golani joins us and susan li. there will be a lot of insults, there will be harangue, i don't think it will affect the way the banks are run or their stock price. what say you? >> i don't think it's going to have any effect on the banks in terms of the way they are run. the stock prices, possibly. i think the showcase for democrats to point to the banks as being bad guys, i think it's going to show what the democrats are going to do throughout the presidential run. all of the candidates are going to feed off of this particular hearing and all the comments that are made today, all the questions that will be made today and the answers. this is a problem for the banks in terms of the future. i think their stocks could be under a little bit of pressure from this. stuart: okay. susan? susan: banks have made a lot of money over the last ten years,

$780 billion. jpmorgan making $215 billion worth. it's a different world ten years later and they are benefiting. profit margins are going up with higher interest rates as well. it's a different world. stuart: that won't go down well with the socialist left. they will be attacked. that's the way it is. thanks for that big number. susan: big number. stuart: dow component boeing, couple problems or couple of items of news there. shareholders are suing the company over those crashes of the max jet and boeing has logged zero new orders of that 737 max jet for the month of march. shah, the stock was well over 400 bucks a share. that's not too long ago. now it's $367. you're not considering buying it yet, are you? >> no, not yet. i think $360 is an important level. i think if boeing cracks below 360 it could certainly get 340, 320, possibly 300. that's a big drop for a company that size. long-term, boeing is an absolute must-have in your portfolio.

i just think there will be a lot of pressure in the months ahead. this particular, this class action lawsuit claiming the shareholders were defrauded will be hard to prove but it portends other potential lawsuits. that's a problem for boeing. stuart: yes, a liability problem. when we know the dollar number, you are in a better position to judge the stock. we have disney holding an investor event tomorrow. ahead of that, cowan has upgraded the stock, i believe they are saying buy that, it will go well above this. this is all about the "star wars" stream? susan: that's right. the next "star wars." the stock has been upgraded, saying it will get to 131 because of that. also theme parks as well. they paid a lot for marvel, for "star wars" and they say this is probably a better product than you saw from apple which didn't even give you a price tag on their new streaming service. at least with disney you know what you are getting. you have a pipeline that will drive $3 billion at least from the movie front and who knows

how much streaming will bring in if you compare it to netflix. that might be a big number as well. stuart: what constantly amazes me is how much they charge for one day, for one adult. >> it really is expensive. stuart: outrageously expensive. >> we have a great consumer economy right now. they are doing well. stuart: you will never see that on the front page of the "new york times." you're right. we do. we are up 45 points in the very early going. that's where we are. 7.18%, almost 26,200. a rosy forecast coming in from delta airlines. that stock opened with a new 2% gain. more money flowing over the transom at levi's which is now public again. that stock is up 5% this morning. wd-40, bet you didn't know that was an independent company, not owned by a conglomerate. it's out there on its own, isn't it? yes. susan: apparently. stuart: yes, it is. down 4%. i want to get to this. gas prices. the national average is now

$2.76 per gallon. liz peek, that's up 53 cents in three months. isn't that a drag on the economy? >> well, yes and no. for every penny increase in the price of gasoline, that's about $1 billion taken out of consumer spending elsewhere. about 80% of that will not be spent, in other words, who gets hurt by this, mcdonald's gets hurt by it, presumably. stuart: hold on a second. go to the hearing, please. there is some heckling going on at the hearing. roll it. >> -- disruption -- would you please remove this gentleman from my committee? come on, officers. i don't have a lot of time. get him out of here.

thank you. mr. o'hanley, you are recognized. stuart: no one ever seems to get charged for disrupting a public hearing. there always are disruptions. nobody seems to get charged or fined or whatever. they just take them out. i guess that's it. all right. let's check tesla stock, please. up today on a report that there's going to be a bill to boost electric car tax credits. shah, $276 on tesla, will you ever buy it? >> no. i have never bought it. i am short it currently. this is good news obviously for the industry as a whole in terms of the ev industry, electric vehicle industry. tesla is facing so much competition, production numbers are down, they have the same kind of problems we have always spoken about, analysts have spoken about. they have managed to band-aid

them over and over and over. elon musk again facing scrutiny from the s.e.c. the company, yes, teflon tesla, absolutely. at some point i think it will reach a breaking point and it's going to be over. stuart: you have shorted it so you expect it to go down. susan: let me give you more on this. tesla is up 1.5% now. the bill driving america forward act, apparently the u.s. senators want to grant each automaker, including tesla, general motors, probably the main beneficiaries of this, remember that $7,000 tax credit you get for buying electric cars and environmentally friendly cars? instead of just capping at $200,000 and that fades away, that tax credit, they will expand it for an additional 400,000 cars on top of the existing 200,000 cars that are eligible for the $7500 green tax. >> it turns out it was incredibly instrumental to tesla's success. what's interesting is, yeah, as this thing has wound down, in tesla's case, they have really had a hard time selling cars. susan: the 200,000 mark was

going to be faded out over the past year. now they get another 400,000 cars. stuart: why do you need all these subsidies? why do you need them? >> because making electric cars is much more expensive than making cars with internal combustion engine. the problem is, so other cars can subsidize their electric vehicles by making internal combustion engine cars and basically withstanding the pressure on price, tesla can't do that. if they can't make money on these electric cars, they can't make money. stuart: the proposal is a rescue for tesla? >> absolutely. susan: u.s. senators are speaking of this proposal because president trump warned when general motors announced those job cuts, he would take that tax credit away. the fact they are looking to expand it, i'm really surprised. stuart: wonder if it actually goes through. okay. right now, we have the dow industrials up 34 points. i should tell everyone that at about 2:00 this afternoon, we are going to see the minutes from the previous fed meeting. that could move the market, it could move the bond market, i don't know which way it will go.

but 2:00 this afternoon, you could see some market moves at that point. i think it's that time where we have to say good-bye to shah and liz. look, thank you very much for being with us this morning. an interesting open to the market. okay. we are up now just 24 points for the dow industrials, 26,174. tease, it says there, so i better do that. here's what i'm teasing you with. at & t rolling out its 5g service to nearly two dozen cities. problem, there aren't any phones that can handle 5g at this moment. good story. president trump has been delayed but he is about to head to texas where he's going to sign an executive order on drilling and pipelines. he wants to speed up oil production. you will see him sign that executive order later today here on fox business. alexandria ocasio-cortez going after former homeland security secretary nielsen, says she doesn't deserve to have a new job. talk about a personal vendetta. we will tackle that one for you

in the next hour. the feds warning that war is coming to space and we will likely face off against china. i want to know how beijing is already weaponizing space. we've got an answer for you, too. now i'm thinking...i'd like to retire early. let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours.

stuart: developing for you, bank hearings on capitol hill. left-hand side of the screen. mr. trump heading for texas from the white house, right-hand side of your screen. susan, do we have some information on what he might just have said? susan: yeah, we have rough notes in terms of what he was talking about. the economy, of course, doing very well. he says tax cuts are working well, job numbers have been great, he wants to congratulate benjamin netanyahu on his victory, and he talked a lot about his tax returns as well,

we have the irs subcommittee hearings yesterday. he says there is no law, if he is not under audit he would actually release his tax returns. he says i would love to give them but not under what happened right now which is the audit. remember when i got elected, people don't seem to care about my taxes, let's move on from it. mueller, he touched on that as well, saying hopefully that's where people are going right now, to investigating the investigators. and there were some bad people involved and there was an attempted coup of a president. stuart: he used that expression? susan: apparently he did. according to our notes. stuart: that's a developing story. i'm interested to hear that he's pushing up and promoting the economic, the economy's performance. susan: he should be talking up the economy. it's been fantastic. stuart: you don't hear it in the news. susan: no, you don't. not enough. stuart: good stuff. check the big board. no impact on stocks at this moment. remember we are waiting for the fed minutes at 2:00 eastern this afternoon. that could move the markets. now this. space. acting defense secretary patrick

shanahan giving a stern warning. roll tape. >> both china and russia have weaponized space with the intent to hold american space capabilities at risk. the threat is clear. we are in an era of great power competition and the next major conflict may be won or lost in space. stuart: okay. gordon chang is with us. what's this about china weaponizing space? what weapons do they have? >> china can shoot down our satellites and by the way, stuart, the united states does not have a deployed anti-satellite weapon. next year, china will be adding to its inventory with directed energy weapons. this means -- stuart: hold on, i'm sorry. i don't mean to interrupt you. you are in full flight here. directed energy weapons? >> lasers. stuart: sounds like a beam, a laser beam that goes up and knocks out a satellite? they've got that? >> they will have that deployed next year. the united states right now is behind. that means in the critical first

half hour of a war with china, they will be able to take down much of our assets in low earth orbit. we also have high earth orbit, 22,000 mile satellites, but the point is, china is well ahead of us right now. the question you might want to ask is, who do we blame. stuart: all right. i will ask the question. who do you blame? >> yeah. there's two people. their last names are bush and obama. president bush did not look at china as an adversary. president obama did not want to protect us in space. so we did not have conversations about protecting our assets in space and going after china's during the obama administration. president trump, thank god, is changing this because you heard the acting defense secretary talk about this. he said what war may be won or lost in space, i take out the word may. it's probably going to be won or lost in space. stuart: you don't think -- i mean, the likelihood of a war in

the immediate future or even the distant future is not there, is it? are we at the point where we can actually talk about war in space with china? surely not. >> history is littered with wars that everyone knew would not happen. i'm not saying there's going to be a war with anybody. russia, china, or whatever. the point is you've got to be prepared because if your adversary thinks they can blind you, they can take out all uf aur se your assets in the first half hour, they might be tempted to do a number of things. invade taiwan, take over big portions of india, who knows what they are going to do. we have to be prepared and deter them. the way to do it is to show them we can protect our assets in space and go after theirs. stuart: surely we have the technology to defend ourselves. we have got laser beams and energy directed beams, don't we? >> we don't have anything deployed. we can use cyber. perhaps. stuart: what does that mean? a beam in weapon form? >> yeah. we don't have a weapon. we have capabilities. those capabilities with a little

bit of time, that's the important point, a little bit of time, can be used. for instance, we have standard missiles on our destroyers and cruisers. those are really capable missiles. those can be used to shoot down satellites in space. but we need time to adapt those. we also have got cyber, of course. with cyber, you can do almost anything. we would like to be able to jam or disable or whatever china's satellites. the point is, china can do that to us as well. stuart: we always talk about what china can do to us, they can hack here and cyberattack there. i presume we've got the same capability but we just don't say anything. presumably? >> yeah. presumably, we've got the same capabilities but the point is, we are behind the chinese in these critical areas. so what we need to do is to put this emphasis on space which is what the administration is trying to do. we need one person in the pentagon accountable for space. we don't have that person right now. we've got space in a lot of different areas in the pentagon and it's the disjointed

response. that's been our problem. it's not that we don't have technology. it's not that we don't have money. we don't have the focus. stuart: gordon chang, thank you very much for joining us. we appreciate it. moments away from getting that tape from president trump as he emerged from the white house on his way to texas. he was a little delayed but he did make some comments. here we go. >> the economy is doing very, very well. we have numbers coming from companies that are beyond expectation. the tax cuts are working very, very well. so we're very proud of the economy. job numbers are as good as we have ever had and more people are working right now than ever worked in our country before. we're doing really well. i'd like to congratulate bibi netanyahu. it looks like that race has been won by him. it may be a little early but i'm

hearing he's won it and won it in good fashion, so he's been a great ally and he's a friend. i would like to congratulate him. that was a well thought out race, i can tell you. but it looks like bibi has won that race. go ahead. [ inaudible question ] >> say it? [ inaudible question ] >> so the fact that bibi won, i think we'll see some pretty good action in terms of peace. look, everyone said and i never made it a promise, but everybody said you can't have peace in the middle east with israel and the palestinians. i think we have a chance. i think we have now a better chance with bibi having won. yes. please, major. hold it. major. [ inaudible question ] >> no, there is no law. as you know, i got elected last time with the same issue and

while i'm under audit, i won't do it. if i'm not under audit, i would do it. i have no problem with it. but while i'm under audit i would not give my taxes. there's no law whatsoever. now, i will say this. i would love to give them but i'm not going to do it while i'm under audit. it's very difficult. remember, i got elected last time, the same exact issue, with the same intensity which wasn't very much, because frankly, the people don't care. what i have done is approximately a 104-page summary and really in great detail of assets and values and nobody wants to go over that because they're so good. i built a great company, one of the best companies, i have some of the greatest assets in the world, i did a good job, and now frankly, i don't care about them. i only care about the united states. but i have no obligation to do that while i'm under audit. and no lawyer would tell you to release your tax returns while

you're under audit. [ inaudible question ] >> i think that the whole asylum rules, laws and regulations have been taken advantage of by people that are very bad people in many cases. these are the people running the cartels. they are gaming the system, they have been for years. the only differences is our economy is now so strong that more people come up. we have done a great job at the border with bad laws. it's very important that the democrats in congress change these loopholes. if they don't change them, we're just going to be fighting. now, the other thing, we built a lot of wall, a lot of wall, and it's new wall. you know, when we rip down an old wall and then replace it, it's called a new wall. that's what we've done. a lot of wall is going up and every place we build a wall,

it's less and less. but the power of the economy, it's like a magnet. it's bringing more people than we've seen in a long time. major? [ inaudible question ] >> well, the mueller report's interesting. after $35 million, with 13 increased to 18 angry democrats, people that truly hated donald trump, truly hated trump, they found no collusion whatsoever with russia, but i could have told you that and so could most people, and so could have everybody that voted for me which was a lot of people. so after wasting all of this money and all of this time, with people that were haters, people that worked on the hillary clinton foundation, people that were absolutely haters of trump,

they found no collusion. what has been found during this period of time are the illegal acts of getting this whole phony investigation started, and hopefully that's where people are going now. that's where people are going. and it's very interesting. it was an illegal investigation. major, it was an illegal investigation. it was started illegally. everything about it was crooked. every single thing about it. there were dirty cops. these were bad people. you look at mccabe and comey and you look at lisa and peter strzok. these were bad people. and this was an attempted coup. this was an attempted take-down of a president. and we beat that. we beat that. so the mueller report, when they talk about obstruction, we fight back and you know why we fight

back? because i knew how illegal this whole thing was. it was a scam. what i'm most interested in -- excuse me, what i'm most interested in is getting started hopefully the attorney general, he mentioned it yesterday, he's doing a great job, getting started on going back to the origins of exactly where this all started, because this was an illegal witch hunt, and everybody knew it. and they knew it, too. and they got caught. and what they did was treason. what they did was terrible. what they did was against our constitution and everything we stand for. so hopefully, that will happen. there is a hunger for that to happen in this country like i have never seen before, including all of the millions of people that voted for me. what they did was disgraceful. there's never been anything like it in the history of our country.

[ inaudible question ] >> well, i like herman cain and herman will make that determination. herman is a wonderful man. he's been a supporter of mine for a long time. he actually ran a very good campaign. that's up to herman. herman is, you know, he's already sat on one of the fed boards and he's just somebody i like a lot. as to how he's doing in the process, that, i don't know. you go through a process. but herman's a great guy and i hope he does well. [ inaudible question ] >> no. steven is an excellent guy. he's a wonderful person. people don't know him. he's been with me from the beginning. he's a brilliant man and

frankly, there's only one person that's running it. you know who that is? it's me. reporter: has the white house been briefed on the mueller o report or have you seen it? >> i have not seen the mueller report. i have not read the mueller report. i won. no collusion, no obstruction. i won. everybody knows i won. and the pros knew it was illegally started. the whole thing was illegal. i have not read the mueller report. i haven't seen the mueller report. as far as i'm concerned, i don't care about the mueller report. i have been totally exonerated. no collusion, no obstruction and i'm also dealing with china, i'm also dealing with north korea, i'm also dealing with venezuela and all the problems in this world. i'm not worried about something that never, ever should have taken place. i did not see what happened.

i did not see what happened to candace owens. excuse me. i did not see what happened to candace owens. reporter: [inaudible] >> well i think that is a terrible thing. i think it's a terrible thing that he would do that. i find her to be a very, i know her. i think she is a fine person a fine young woman. and i think that is disgraceful that they could say that. reporter: [inaudible]. >> i don't hear you. reporter: -- southern district to steve miller -- [inaudible] >> i respect him. i like him. and he is somebody that you know i have a lot of regard for. [inaudible]. reporter: [inaudible]. >> my finances are very clean.

i don't think there is an investigation. if you say it i don't know but i think don't there is an investigation. my finances are very clean. reporter: [inaudible]. >> i like him a lot. he is doing a very good job. it could happen. we'll make a determination. reporter: are you looking at others -- [inaudible] >> we have others. right now set man. he is doing a great job. kevin,. thank you, see you in texas. [reporters shouting questions] stuart: that is the president right there, he was out of the white house, leaving to go to texas. he covered a lot of subjects there, including he called mueller, russia probe was an attempted coup. he said our strong economy is a magnet for people coming into our country illegally. he spent some time, pumping up the state of the economy. talking about it. what did he say, susan?

susan: job openings still above 7 million. close to the record highs, off the tax cuts. don't forget you're getting more back in your tax returns. tax cuts are working very well. that is filtering in through to the u.s. economy. he was asked about the tax returns he says he is under audit he can't release them right now. a lot of time spent on the mueller report. the president says he hasn't seen it but he won. stuart: i think the president is very concerned all the headlines in the newspapers, headlines in the evening news are negatives. it is about immigration. it is about illegal border crossing. it is always a negative. susan: not about the 12 to 15% you made in the s&p so far this year. best start since 1998. your 401(k)s are going up. retirement savings are higher. by the way, people are buying homes once again with lower interest rates. so there is a lot to talk about especially people finding jobs. wages are going up.

bank of america said they will raise wages to $20 an hour. target, may ses and the like. it goes on and on. stuart: president wants more publicity about it and he will continue to talk about it. susan: as he should. stuart: as president was speaking that, the hearing about bank ceos. maxine waters, her first question was about russia. listen to this. >> let me begin, i will take five minutes for questioning. much is been reported how deutsche bank is pathway for criminals, kleptocrats and allies of mr. putin to move illicit funds out of russia but recent information show some of your institutions have also been providing services for russian individuals or entities that may be engaging in questionable transactions. in particular i would like to ask bank of america, citibank, jpmorgan, and morgan stanley to answer the following questions. has your respective bank conducted any review to identify and assess russian-related

accounts? bank of america. mr. monihan. >> chair waters, we obviously comply with all sanctions required by the federal government so we review that on constant basis whether russian accounts. >> thank you very much. did you identify any suspicious accounts or transactions? >> not to my knowledge but we do regularly investigate all accounts. >> so you have no reason to have taken any actions as a result of your findings, is that right? >> not that i'm aware of. >> thank you. let me ask next of citibank. >> thank you, chairwoman. we take our responsibilities around aml very seriously. >> yes. but has your respective bank conducted any review to identify and assess russian-related accounts? >> we have conducted thorough investigations and can't comment on ongoing investigation. >> so did you identify -- you're

saying that as a result of your investigations you did identify, maybe, some suspicious accounts or transactions? >> can't comment on ongoing -- >> can't comment on that. so you have not taken any action as a result of your findings because you can't comment, that right? >> we take it very seriously and we're always -- >> okay, morgue morning what about you? has your respective bank conducted any review to identify and assess russian related accounts? >> we conduct regular reviews consistent with u.s. sanctions. >> very good. did you identify any suspicious accounts or transactions? >> not to my knowledge, chairwoman. >> you have not taken any action is that right? >> that's right. >> thank you very much. mr. corbett you mentioned you downsized somewhat. you eliminated some business lines. have you determined that helped to make management mored in your bank? >> in our bank we have downsized considerably since -- >> how many business lines did you downsize? >> 70. >> has it made management easier?

>> yes it has. >> mr. dimon, what about you, have you eliminated any business lines? >> we every year look at what we call hobbies, small businesses things that cause problems, close them down, yes. >> how many business lines have you eliminated? >> if i remember correctly, 17. >> has it made management better? >> sure. >> what about you, mr. gorman? >> yes we have downsize ad number of different business. >> has it made management better? >> it certainly makes it organized. >> thank you. mr. monihan, have you downsized any business lines and stuck to your core business? >> yes we have. as i said -- >> has it made management easier and better? >> made it more focused. >> thank you. mr. hanley what is about you? >> yes we have. >> has it made management better? >> yes it has. >> mr. sharf, what about you. >> i'm not aware? >> you're not aware of what is happening in your bank. >> i'm not aware that we downsized or eliminated business. >> you have not reviewed and you don't know, is this something you think you think you need to

take a look at? >> chairwoman waters, i have reviewed the businesses that we're in and don't think that we should be eliminating businesses that we're in. to the best of my knowledge we didn't exit businesses since the crisis. >> mr. solomon? i can't hear you. >> i apologize. we eliminated a handful of businesses since the crisis. >> thank you. today there are more than 44 million americans that owe, student loan crisis is. 1.56 trillion in student loan debt. s that month this committee received testimony that last year 1 million student loan borrowers defaulted which is on top of the one million borrowers who defaulted the year before. what are you guys doing to help us with the student loan debt? who would like to answer first? mr. monihan? big bank. >> we stopped making student loans in 2007 or so. >> so you don't do it anymore? >> mr. corbyn? >> we exited student lending in 2009. >> mr. dimon? >> when the government took over student lending in 2010, we stopped doing all student

lenting. >> thank you. what about small business. you mentioned that you were making loans to small businesses. small business operators can't walk into bank get account. you shoved that off to community development organizations. who can say that you have made an important business line lending to small businesses? >> chair waters, as i said earlier we made $8 billion in loans to under million dollar size last year. we have operating accounts for about nine million small businesses. >> thank you. my time is up. the gentleman from north carol lane, ranking member, mr. mchenry is recognized for five minutes. stuart: that was interesting, was it not? it appeared to me that maxine waters, who chairs the house financial services committee, did not know that the government had nationalized student loans 10 years ago. i don't believe she knows that. she chairs a committee which regulates the banks. charles hurt, come on in,

please, i know you've been listening to this you're shaking your head. i was shaking my head when her first question was about russia. go ahead. >> yeah. you have got this woman here, here, you think about all the leaders of the big banks in this country. you know that is usually a rogues gallery of villains. they have a lot of money. they control a lot of money. everybody owes the banks something. they're not really most popular people usually but you want to make them look really popular? put maxine waters in there asking dopey, stupid questions, grilling them about student loans when of course the federal government drives everything when it comes to student loans. it is appalling. this is why people hate washington. it is why they have turned off everything, everything has turned off on washington. why donald trump is president. it is why donald trump i think will get reelected because of these bose sos in congress -- bozos in congress embraering

themselves every day. we saw it with jerry nadler and candace owen. seeing it today. different dynamic. these people you can't take them seriously. stuart: charles, tell us how you really feel next time. i want to bring in market watcher, michael o'keefe is with us. i want to ask if this kind of political theater intense and hostile theater does it, do you think it will make, in the future, any difference to the way these banks are run and any difference to the the bank's stock price? you're a market watcher. >> i'm a market watcher, and a longter optimist. the system is working, the whole idea is have different forums to question our laws. at the end of the day they're testifying. congress will look, gee, maybe we should tighten up the laws a little bit. that is our system is working. i'm very optimistic about it. how does it impact financials today? not so much in my opinion. the question is, are we seeing any new information at this

point? really anticipates to that is no. stuart: it is a gotcha hearing more than anything else. >> that's right. stuart: now, what about the strength of the economy. the president is going all out to talk up the strength of the economy. that is his strong political suit obviously. do you see a recession anytime in the future, like the next two years, for example? do you see a recession? >> we don't see a recession for the next 18 months. think about it as horizon we're watching looking for cracks in the data. as you talked about, data all net-in has been very positive. what you see in some headlines which send to go a little negative, little cracks are coming off of record numbers down to still a very positive number but not as good as the record. at the end of the day, we watch data things are very strong. stuart: you're looking 18 months out. that would take us to just before the elections of 2020. >> indeed. stuart: so you're saying that recession at the earliest comes then, at the earliest?

>> that's right. that's right. i again think the fed is very mindful. they're data dependent. they're watching. they will have a policy continue to support a strong economy at this point. stuart: michael, thank you very much for being with us on very important day. thank you. i want to bring back charles hurt. the president tweeted at you, as a matter of fact, i think you know this. i will tell our viewers. the reason the whole process seems so politicized democrats made up this complete lie about collusion and none of it happened. okay, charles, that was reference to what you were saying i believe either on this program or on fox news. tell me more. >> it is truly incredible and you're pointing out about maxine waters, her first question of the bankers has to do with russia, the exact same point. you have these people, they have, and when the whole collusion, russia collusion lie began i don't think, i don't know if they actually believed it or wondered it, certainly at

some point after two years of looking into things it became clear that it was absolutely not true. then you have people like adam schiff, and other democrats in important powerful positions in congress who are out there lying and claiming oh, but there is more evidence. i just can't tell you what it is. no there wasn't, there isn't, there hasn't been any. talk about collusion. the collusion is on the part of bad actors in the media, democrats in congress who made up this whole lie for two years. think of the actual damage that has been done to the country and done to the president because of this complete calculated lie on the part of politicians who are embarassed that they lost an election. i think, that, for people now, i think the president, i don't think the president wants to drop this stuff now. i think he wants to prosecute the political case that he was wronged. stuart: he was on the attack this morning. he called the russian probe an attempted coup. charles, thanks so much for joining us. big day. i'm moving on real fast. thank you, charles hurt.

i'm going to call it fireworks on capitol hill yesterday. turning point u ask. a's candace owens testifying about the rise of white nationalism on social media. the democrats tried to trap her. she fired back. you're going to see it all later this hour. alexandria ocasio-cortez going after chris tin nielsen. aoc says nielsen's role in separating families should is disqualify her from getting a press tin just new job. she has a personal vendetta. health officials warning about a deadly drug resistant fungus that is spreading through hospitals and it is i'm impossible to kill. dr. siegel will us all about that and i is next. ♪ with accident forgiveness they guarantee your rates won't go up

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stuart: okay. after the hearing where bank executives are getting grilled, the latest question was about wage disparity. the hearing is supposed to be about financial state of banks after the crash but they have gone everywhere from russia to now wage disparity. we'll keep you up to date with all the confrontations as they happen at that hearing. deadly fungal infection, resistant to major medications spreading globally. big deal. joining us now, dr. mark segal, medical correspondent. wrap this up for me. how bad is it? >> it's bad. it has been spreading around the world. it has been spreading to the united states. it is in new york, new jersey, illinois. it affect especially immunocompromised people. it is affected 600 people. it is living on respirator lines. it is due to overuse of anti-fungal drugs. it is due to being used in the soil. it is use of fungicides. the problem we don't have

effective way of treating it. we have a new fungal drug that came out seven years ago that works pretty well against it but not 100%. i'm particularly worried about nursing homes, by the way. in chicago, half the people in many nursing homes have this thing on their skin. if they get sick, this thing takes over. hardly even know it. you hardly even know it. you get muscle aches, fever, bang, 50% of the time you're dead within three months! stuart: really? >> 50% of the time within three months deadly. stuart: absolute killer? >> absolute killer. goes through the bloodstream. i don't want to scare people there. it's a bad bug. it is also symptomatic of fungus we hardly talk about, getting more and more resistant to basic treatments. big problem. stuart: is this like the antibiotics, not as effective as they used to be because we're using so much of it? >> a, we don't have incentives to develop new ones. drug companies don't make a lot of money on antibiotics. we don't disinfect the hospital

rooms. another headline in five seconds. you know the centers for disease control in order to get hospitals to play ball, reveal information to them they have a deal where state and local health departments don't have to announce which hospital oars nursing homes are the culprit. stuart: it would start a panic, wouldn't it? >> no one would go there. i'm not going to that hospital. it has the fungus in it. it is called candidorus. i'm worried about lack of disclosure. it you said why. makes it harder to tack and treat it. we don't know where people have it. stuart: i have to spend time on this mayor de blasio declared a public health emergency about the measles outbreak. he is talking about mandatory vaccinations. i don't know how that would work. how can you force someone or anybody to have vaccination. >> only time on this show you will ever hearing me agree with this mayor in my city, i agree with him totally.

here is how it works. in these communities, they have misinformation, propaganda that tells the vaccines are unsafe when they are huge lifesavers. 285 cases in new york city alone. down in williamsburg, orthodox jews where i am one have a problem not getting vaccinated. we need at least 90, 95% to vaccinate. here is how the mandate works, basically says if you come in contact with the measles prove you have been vaccinated. prove it. show you've been vaccinated. get a vaccine, or 1000-dollar fine. stuart: oh, it's a fine. >> no going to jail. a 1000-dollar fine if you can't prove you've been vaccinated or agree to the vaccinated. this is public health at it is finest. important to stop measles which hasn't taken hold since 2000 that we defend individual liberties. i know not everyone out there will agree with me. i'm a big proponent of personal liability better but public

health comes first. stuart: the mandatory vaccination, you do it, or you pay a fine? >> you do it or prove it or pay a fine. stuart: dr. segal, thank you. we'll keep in touch on that one. president trump is on the way to texas. when he is there he will sign two executive orders to lift regulations and make it easier to build pipelines. we're talking to a former trump epa official says that would be a very big deal in the energy business. how about this one? an american airlines flight attendant accidentally spill as tray of drinks all over a passenger. turns out the passenger was the american airlines ceo. what a story. we've got it for you. ♪ ♪

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stuart: it is pretty much a go nowhere stock market this wednesday morning that may change at 2:00 eastern time when we get the latest fed minutes. that could move the market. we'll see 2:00 eastern. a few moments ago i told you a story about american airlines flight attendant, tray of drinks and the company's ceo. what a story. this i think should be told by susan. susan: thank you. 28-year-old flight attendant, mattie peters was attending a flight from phoenix to dallas and one of the passengers ordered a drink. so she brought over the drinks. but instead of handing it over, she spilled the entire tray on to this passenger. but the passenger turned out to the be ceo of american airlines doug parker. now, doug parker was apparently supercool about it. this is what mattie says. he was supercool. he was a good sport. he came back, we chatted a bit.

smiles. had a good laugh. you remember your first job, right or early on in your career you know, you made these kind of mistakes, you can laugh it off. it is called life experience. so mattie peters had a good one. stuart: i did actually spill something on the customers when i was a waiter in connecticut. susan: really? >> many a century ago. and i did. the customer was very gracious about it. still gave me a tip. susan: think she will still get a promotion? stuart: not get carried away. very good story. show me the stock price of boeing, please. they have got more headaches. number one, shareholders are suing the company over the 737 max jet crashes. the stock is down to 364 this week. they have another problem. what is that? susan: they have a shareholder revolt. a share hold he suing them for concealing the safety deficiencies. the company has lost $30 billion in stock value.

stuart: they have another problem? susan: deliveries of them as well. 737 max haven't sold one plane in the month of march. first time in seven years. sold 3,000 of them around the world. how many people will take delivery of these planes that the indonesia state carrier we don't want the rest of the 49 out of the 50. they cut supply chains and orders on the boeing max. stuart: look at that stock go down. challenging 360 now. it is at 364. i have very really interesting and stunning video from you from a frequent "varney & company" guest, pro golfer greg norman. he called the shark. well he lived up to his name. he related in a massive hammerhead shark. norman said it was about 14 feet long. it weighed in 1200 pounds. it actually towed his boat. look how powerful. look at sign of this thing. norman released it after he brought it in.

it ate a little and just swam away. that is pretty big. thank you, greg norman. thank you for thinking of us. big sports news indeed. magic johnson surprised everybody by resigning from the l.a. lakers. we have brian kilmeade on that one next. ♪

♪ ♪

our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. stuart: the hearing involving bankers on capitol hill is supposed to be about the financial health of banks now that we're 10 years past the crisis but it has veered off into all kind of directions. russia, student loans, wage disparity. watch this, congresswoman

velazquez grilling jamie dimon on income inequality. watch it. >> can't you see why so many americans find your income inequality comments disingenuous? can you see why that position strains credibility? >> yes but it is incorrect. the american government reduced tax rates on businesses to make america competitive. we have been sending trillions of dollars of capital overseas -- >> how can we make america, reclaiming my time. how can we make america competitive when there is large number of young people that are graduating and they see no future. >> this group pays all their employees quite well, including medical, retirement. minimum wage $18. $37,000 a year something like that. competitive business will drive wages and jobs over time. what we do on individual side is separate. in the same letter i supported expanding the earnings of the tax credit to help people --

>> i yield back my time. >> gentlelady yields back. stuart: i have to say the lack of knowledge on the part of some people on that committee is frankly stunning. they don't seem to know anything about capital and what it is good for and what it does for our society but that is my opinion. we'll get to more of lateer. we'll check the stock market. no impact on what is going on capitol hill at all. we're down 20 points. that's it. we have latest news on how much oil we've got in storage, how much oil we've been using, a lot of it recently. that pushed the price back up to $64 a barrel. >> we have a huge build on the week. 7.03 million barrels. stuart: the opposite of a big drawdown, the big use of oil. now we're building it back up again? susan: we were expecting something over 2.2 million. that is almost three times the amount we had expected in the month. so that is a big supply gap. stuart: that was supposed, you

would think if you got a lot more supply that you would therefore lower the price? susan: that's not the case. right now we're sitting five-month high for oil prices. the reason we have opec led output cuts. don't forget sanctions on iran, venezuela, is encrypting the global supply of oil. stuart: got it. 64 bucks a barrel as we speak on oil, susan, thank you. i want to bring in south dakota senator mike rounds. senator, you're on the senate banking committee. this hearing in the house is supposed to be on the financial health of banks but it has gone all over the place. this is my opinion, the lack of knowledge on the part of the questioners is frankly stunning. what do you make of it? >> well i haven't had the opportunity to listen to much of the discussion that is going on over there. on the senate side, we've been interested in housing reform actually, in trying to do something about taking care of that problem which is about 1/5

of our entire economy. the banks could be a great place to start talking about that. stuart: i'm somewhat exasperated, mr. senator, we heard the chair of the committee, maxine waters, who clearly did not know that the government nationalized student loans 10 years ago. i don't think she knew that. we have congresswoman velazquez asking about wage disparity, disputing with jamie dimon about wage inequality. what is going on here? >> i look i'm not going to try to defend the house committee. what i do know is some very, very sharp witnesses that are testifying here, they have a wealth of information and it would be very unfortunate if they weren't allowed to share some really good information that might very well help us make improvements within the banking system within the united states. these folks know what they're talking about. this would be, this could be time lost. that would be very unfortunate. stuart: let me move to something

of immediate importance here. disaster of supplemental appropriations bill which will give aid to the midwest, after terrible flooding there. it has been held up by senate democrats. this is all about puerto rico relief funding. can you explain what is going on? the money is not flowing to you as it should? >> that's correct. chairman shelby on the republican side has been working and making offers. he made two more offers to our democrat colleagues, trying to find middle ground. i think what you're find something growing pains among the democrat leadership in the house. a lot of these folks have not been in leadership before. they think that since they have the house that what they want to do should be, we make a demand. we simply sit back and wait until they accept our demands. in divided congress that is not the way it is going to work. you have to find compromise to move forward. we retained the presidency, we retained senate, they have to

respect some of the concerns we have as well as what the president suggested. there has to be a middle ground. so far our democrat colleagues don't seem to understand that part of the process. they made demands, so far according to the sources we've got, they haven't come off their original demands. stuart: can you give us any idea when you might get the money? because you desperately need the money, midwest in general? >> one nice thing about congress right now, if we were to make, to get an agreement today, it could be done before the end of the week. unfortunately if we don't get a deal done by the end of this week, it will be two weeks which would be very unfortunate. there is some money left in fema. there are some resource there is that can be drawn down but that doesn't speak very well about the work of the united states congress. we recognize that we've got a package out there. a lot of folks in the southeastern part of the united states that have suffered from real critical weather problems, lots of floods, tornadoes, real damage, real damages not just perceptions of economic damage

but real property damages. stuart: yeah. >> this is a case of where congress needs to find a way forward and the sooner the better. stuart: senator mike rounds, republican south dakota. we appreciate you joining us. sir. >> thank you. stuart: yes, sir. we'll move now to a live radio show, brian kilmeade. he is the host of the brian kilmeade radio show is with us now. straight to the top subject. what a shock. i learned this morning that magic johnson had resigned as head of the l.a. lakers. is that organization falling to pieces, brian? >> lebron james certainly didn't help. the best player of basketball coming off a season where he got to the finals for three straight time, you thought 34, beginning of free agents and maturing of young players. it didn't happen. lebron james basically tuned out the team. he was sitting away from the team when he was here in new york. he felt like the team wasn't worthy of him. magic johnson has been under

withering criticism. some say there was tension in the office. we know sometimes that leads to some other things. we saw other major players like isiah thomas have major problems with the knicks here. no coaches knew it. evidently management wasn't briefed. i'm no longer president of the team. i'm looking forward to being an ambassador to the nba. michael jordan hasn't gotten that team anywhere in charlotte. doesn't have much success. derek jeter, another superstar with the marlins. hasn't done much with the team he is early two years in. another megastar, that did great, larry bird in indiana. stuart: you made me understand what is going on in basketball these days. total change of subject. look at this, this is tweet from congresswoman alexandria ocasio-cortez about former dhs secretary nielsen. in stealing thousands of children, deporting their parents and refusing to provide info for reunification,

secretary nielsen oversaw one of the largest scale human rights violations in recent history. awarding her a lucrative deal or prestigious post is to legitimatize and celebrate that abuse. what is this, a personal vendetta to be carried on against anybody who had anything to do with trump? >> against somebody that gave us the brilliance of the green new deal? she actually did not take the time to understand what is happening at the border. and secretary nielsen separating kids from parents, parents from kids was unfortunate but it was going with a letter of the law. mark morgan admitted it happened, who was border patrol, running the border patrol during the obama years. he admitted this happened during his time. they absolutely if you could determine a parent actually was the parent, we wouldn't separate them if they were, if they were not related. it was convicted criminal. they didn't know anything about these parents t happened back then. those pictures that you see of kids in, with the so-called

cages, fences, was separated for their own good. it happened in 2014. and for nielsen to sit there have to deal with the flores rule and other border rules, they had to do things. the attorney general sessions. was one who said no tolerance, for her to personally attack somebody who gave their heart to the job for two years when she has been there three months, something par for the course with her. would really get my attention if she had a solution to the border patrol problem, except for climate change. stuart: i agree with you right there. she has solution to the border. let everybody in. open the border and no immigration enforcement. period. that is her solution. i think we should give it maximum publicity. americans want to go with that, you will see the end of our country as we know it. brian, i'm sorry, out time. i know you have to get back to the show. thanks for your time today, brian. >> go get em, stuart. stuart: we'll try. life look from capitol hill.

ceos from the big banks grilled by the house financial services committee. you're watching it now. next hour we're talking to a republican member of that committee. turning point usa's candace owens into it with democrats at the social media hearing yesterday. we will show you the exchange that made headlines after this. ♪ 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic.

we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )

stuart: story of the day thus far, bank executives being grilled on capitol hill. the empty seats because they are in recess right now. i should tell you that the banks themselves, minor losses. their executives are being grilled. there is some hostility, but minor losses for the banks stocks as we speak. when they come back in again, anymore confrontation you will see it real fast. talk about confrontation on capitol hill, listen to what

california congressman ted lieu said about turning point usa's candace owens at a hearing on big tech. roll tape. >> of all the people that the republicans could have selected they picked candace owens. i don't know miss owens. i'm not going to characterize her. i'm going to let her own words do the talking. i will lay for you the first 30 seconds after statement she made about adolf hitler. >> ai agree. i don't have any problems at all with the word nationalism. i think that it gets the definition gets poisoned by elitist that actually want globalism. global system what i don't want. when you say nationalism first thing people think about the afterloo in america is hitler. weigh as national socialist but if hitler just wanted to make germany great and have things run well, okay, fine. problem that he wanted he had dreams outside of germany. he wanted to globalize, he wanted everybody to be german, everybody speaking german.

stuart: you heard that. candace responded to the testimony. now listen to what she said. roll it. >> i think it is pretty apparent that mr. lieu believes black people are stupid will not pursue the full clip in its entirety. he will extract -- >> witness will suspend for a moment. it is not proper to refer to disparagingly or to a member of the committee. the witness will not do that again. witness may continue. >> sure. even though i was called despicable. >> the witness may not refer to member of committee as stupid. >> i didn't refer to him as stupid. that is not what i said. not what i said at all. you didn't listen to what i said. may i continue. >> please. >> as i said, he is assuming that black people will not go pursue the full two hour clip. and he purpose fully extracted, cut off and you didn't hear the question that was asked of me. reporter: okay. you heard it. what an exchange.

charlie kirk is with us, turning point usa's founder and ceo. okay, charlie that was quite an exchange. >> i will say i'm so proud of candace owens. so difficult to do what she did. she was up there for a couple hours, defending the president, talking about her own personal experiences and it was a hearing on a lot of different things. it was hearing on hate crimes and the rise of white, aled rise of white nationalism in the country. candace had very pointed comments about that. but what i found to be despicable, a sitting member of congress, by the way always talking about, president trump is not presidential. is that congressional? play an edited clip like that is really doing justice for your constituents? i don't think so. stuart: that was ted lieu you're talking about. >> that is what i'm talking about, correct. stuart: what about jerrold nadler, you can't say that she didn't say that. >> not to mention other quick facts about the hearing. there were a lot of other witnesses that were called. none of their political ideology were described in introduction

except candace owens. they said this is conservative activist in front of a hearing on all these different issues. for 20 years, an individual sat on this hearing told congressman nadler this is one of the most despicable hearing he heard as far as introduction of candace owens. had contrarian point of view how to defend the president and how to articulate the success that the black community is enjoying because of his policies. gets unbelievable disrespect from the democrats on this committee. i for one so proud of way she handled herself, a lot of courage and clarity and conviction. stuart: chair of judiciary committee? >> the judiciary committee. also the one trying to get trump's taxes. stuart: investigating everything and anything. >> that's right. stuart: he mischaracterizes what candace owens said. i think it was, i don't know whether it was deliberate or not. but then he came back -- >> sure was sloppy though, wasn't it? stuart: that is nice word to use. he was deliberate hi going after her, deliberately going after

her. so was ted lieu. >> the most striking thing that congressman lieu plays this clip and does not give candace an opportunity to respond. so he goes on, without any, does not call the witness to talk. imagine that. isn't there similaritity, guilty until proven innocent threat on the left. not to allow the individual -- stuart: you guys must be used to this. been out there for some time. >> exactly. what we see on college campuses. what happens on campus will be in congress. similarity of two. behavior of the left is quite consistent. kudos to candace so hard to do especially on the stage to stand up for the democrats. stuart: enormous pressure to respond forcefully accurately. >> under oath. stuart: under oath. big deal. sorry so short. >> you bet. stuart: thank you, sir. more from aoc. she says climate change is the reason why we have a crisis at the border, really? we will deal with that. we'll deal with it next, promise

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stuart: how is this for breaking news? attorney general barr says he thinks spying occurred by u.s. intelligence agencies and it was

directed at the trump campaign in 2016. i think that is news. i also told lawmakers he not overruled mueller on redactions to the report or discussed possible redactions to the white house. the fact he is out there saying today, yes, u.s. intelligence agencies spied on the trump campaign in 2016. i think that is news. then we have congresswoman alexandria ocasio-cortez tweeting about immigration and climate change. here it is. the far right loves to drum up fear and resistance to immigrants but have you ever noticed they never talk about what is causing people flee their homes in the first place? perhaps that is because they'd be forced to confront one major pack tore fueling global migration, climate change. martha maccallum, host of the the story. where did she get this from. >> link.com has very entertaining video they put out, explains the theory between

climate change and what is going on with regard to central america. they point out wildfires in al alberta, hurricanes in puerto rico as examples why people leave where they are from because problems they believe are linked to climate change. it goes on with fancy graphics include people like president trump and some of the people who work in his administration and they're riding around in limousines. says the enemy doesn't arrive by boat with immigrants in it in the picture t -- it arrives by limousine. argues by accepting migrants into the united states we are paying the debt that we owe for climate change. there you go. stuart: that is a leap of faith. >> it's a great little video i encourage everybody to watch it. stuart: fascinating. >> that is where it comes from. crime, poverty, corruption, great scale is apparently irrelevant to the reasons why people are leaving although in every report that i looked at this morning just to refresh my

memory on all of this, every person that i saw interviewed heading this way cited those reasons for leaving their countries. stuart: i have got one more. don't go just yet, martha. i know you're a busy lady but i got this for you. california governor, gavin newsom, went to el salvador, told every not everyone in america is like president trump s that invitation, come on in, because we're all like him? was that a invitation to central america? >> it may be. it is always circumspect when you have an official from the united states traveling outside of the country and going against the agenda of the white house. we like to have those debates here at home. so that is typically unusual. however he is making the argument el salvador should not be grouped in with honduras and guatemala. he is meeting with the incoming

president in el salvador who would like many more americans to travel there on vacation on their beaches this. is much more going on with the governor of california. stuart: i will accept that. martha maccallum. thank you very much. >> thanks for having me. stuart: big hour coming up for you. scientists released first ever image of a black hole. 6.5 billion times more massive than the sun. we have to show it to you. bernie sanders unveiling his "medicare for all" plan today. we're talking to the centers for medicare, medicaid, bernie's plan is a threat to health care innovation. she will make her case. patriotic millionaires holding an event in d.c. it is literal called tax the rich conference. that is nothing but socialist propaganda. if the millionaires want to pay more, write a check to the treasury. my take on that next.

stuart: the tax the rich outrage machine fired up about an hour ago in d.c. it is literally the tax the rich conference, literally that is its name, tax the rich. it's staged by those patriotic billionaires. they are the people who have already made their pile but are determined to stop you from making yours. the socialists are running this conference. it's a set upfor their complete takeover of the democratic party. representati representatives lead the house progressive caucus. they are there. representative barbara lee will speak to a panel about the war of world views. randy winegarten leads a discussion on funding our future by taxing the rich. by the way, she took $194,188 for unused vacation and sick days in 2010 when she left her teachers union job. she made $600,000 that year.

a couple of the panels will be moderated by "the washington post" reporters. "the washington post" is owned by the richest capitalist of them all, amazon's jeff bezos. what are they doing there? check out some of the panels. trump's tax bill, the art of the steal. how the rich got richer. and learning to save america. personally, i would like to see america saved from the awfulness of socialism. remember, i have lived it. they haven't. this is what you are going to hear for the next two years. the deliberate ginning up of jealousy and division. the patriotic millionaires are just a convenient prop for the socialists. they will be used as dupes. this conference will conveniently ignore the success of president trump's capitalist economy. does anyone seriously believe that taxing the rich even more will help poor people? it will not. it is trump who has helped poor people. the lowest unemployment rate for minorities in decades. the fastest wage growth in

years. tax cuts did this, not tax hikes. what's this about the rich paying their fair share? they do already. and then some. the 1%ers who the socialists despise pay 43% of all federal income taxes and that's under the trump tax plan. come on. this conference is just socialist propaganda, patriotic millionaires? i don't think so. besides, if you think you should pay more in tax, you can. just write a check to the united states treasury and please put in the memo space, i'm guilty of success. the third hour of "varney & company" is about to begin. ♪ take the money and run go on take the money and run ♪ stuart: hats off to the producer. fine choice. take the money and run or maybe

take the patriotic millionaires' money and run with it. sounds good to me. i'm fired up. let's bring in lawrence jones, fox news contributor and ed cox, chair of the new york republican state committee. lawrence, to you first. nobody's stopping anybody from just writing more to the government. just do it. >> as you said, that was brilliant, by the way -- stuart: you like that? i'm trying to follow you, son. >> nice. the thing that bothers me the most is that for someone like myself who spent the majority of his life as a poor man, growing up in poverty and then you finally get a little bit of money, then the government says let's punish you for making something of yourself. that's essentially what these millionaires and billionaires are doing right now that are pushing this aoc socialist agenda, is that they really feel guilty for their success, when they should be -- nobody is stopping them from increasing the wages for their employees. chick-fil-a did it. we just found out bank of america is doing it as well. stuart: $20 an hour.

>> if you feel so guilty about it, put more money into your company, raise the wages for your company, don't allow government to do it for you, then you will see it go back into the work force. but -- stuart: right again, lawrence jones. stay there for a second. ed cox, your thoughts on what i just -- >> look, democratic socialist makes everyone equally poor. as maggie thatcher famously said, pretty soon you run out of other people's money and you end up like venezuela. i traveled through a lot of socialist countries in the '80s, eastern europe, soviet union, china. i got to tell you, they were very poor. you bring capitalism to china, look what happened to it. second largest economy in the world. everyone is getting richer. the middle class is rising, that's what happens. cut taxes, that's what you get. luckily we have larry kudlow in the white house. stuart: it does help, doesn't isn't it. >> we have been talking about this. there is a socialist agenda,

this happened on college campuses where these young people believe the government should be paying for all of these resources and that's just not the case. when you have new voters going into the voting bloc right now that believe that's the way, aoc may not catch fire right now, but in the next ten years, i can see us having a real socialist candidate. stuart: what you just said goes right into this. i want to talk about the new cnbc piece citing a study that says some millionaires are psychopaths. aoc, she agreed. she tweeted that a lack of empathy and dishonesty gave those people their wealth. your response to that? >> what gave them their wealth is they had new ideas, great ideas, the consumer and everyone in the country benefited from them and they were rewarded with wealth. stuart: sorry, lawrence -- i almost called you larry. that was unforgiveable. >> i'm sure the young lady from westchester really understands that well. look, she went through school.

she worked very hard. but she seems to forget there is this story that she's trying to manufacture herself that she lived in poverty, that she's from -- she's not from the bronx. everybody knows that. so it just shows you the guilt line is the new line for the progressive left. stuart: you agree with the inspirational message. >> i can honestly say i was poor but there is a brighter end to that tunnel, where at 26 i'm on fox news as a contributor. nobody wants to talk about that. they want to talk about when they were down in the dirt. stuart: you are a success, young man. yes, you are. okay. this is for you, ed. new york state legislators are trying to make it easier for congress to get the president's tax returns. are new york state legislators going to be successful? will they get his tax returns? >> no, they are not going to because judges will not let them do it. this is a piece of legislation aimed at only one man, the president of the united states,

to deprive him of the right of privacy of his new york state tax returns. stuart: they detest him. >> they detest him. trump derangement syndrome. stuart: should have a name for that. bernie sanders says he's going to release his tax returns monday. going to show that he's a millionaire. what do you make of that? >> oh, wow. he actually values capitalism. you know, with the progressives it's become abundantly clear, whether you are talking about the baltimore mayor with her corruption scandal, all these people, they want you to do as they say, not as they do. all of them are millionaires. all of their kids go to the same schools as the republicans do. the only difference is we are honest about us being capitalists. they pretend like they're not. again, look at their houses. i guarantee you they are not standing in the dump. like maxine waters, they don't stay in their district. they don't. they stay in million dollar homes which i have no problem with that. but don't pretend like you

guys -- who wants to stay in a dump? nobody wants to. it's the american dream to make it out and then come back and save your community, to get them out of the dump as well. stuart: you have a great future in television. just remember, i'm the guy that discovered you. don't ever forget that. lawrence, ed, thank you very much indeed. who just released their tax returns? senator elizabeth warren just -- reports are that she just -- that what was that, 500,000 what? income? $900,000 in income, was that? okay. we will fix this. okay. there are reports that elizabeth warren, presidential candidate, just released her tax return showing $900,000 in income. we will get more on that, i promise. big day for the big banks. their top executives, citigroup, morgan stanley, jpmorgan's jamie dimon, for example, all on the hill today. they are in recess right now. here's what happened earlier

when chair maxine waters asked about the banks' role in rising student loan debt. which they don't have a role in. roll tape. >> $1.56 trillion in student loan debt, last month this committee received testimony that last year, one million students' loans defaulted which is on top of the one million borrowers who defaulted the year before. what are you guys doing to help us with this student loan debt? who would like to answer first? mr. moynihan? >> we stopped making student loans in 2007 or so. >> you don't do it anymore. >> we stopped student lending in 2009. >> when the government took over student lending in 2010 or so we stopped doing all student lending. >> thank you. stuart: i have to point out maxine waters obviously did not know that our government had nationalized student loans in 2009 right around the time of the crash. i don't think she knew that. she chairs a committee which oversees the banks. now this. former goldman chief lloyd

blankfein tweeted this during the hearing. quote, boy, i really miss my old job. liz: sarcasm, right? stuart: on this occasion not a low form of wit. bernie sanders expected to release an updated version of his medicare for all plan. everyone would get health care and everything would be covered. the cost? possibly more than $25 trillion over the next decade. we will discuss it. next, we are talking to the head of the centers for medicare and medicaid services. she says medicare for all is the biggest threat to innovation in health care. i am also going to ask what is the administration's counter plan on health. meanwhile, president trump on his way to texas. going to sign an executive order on drilling and pipelines. he wants to speed up oil production to get it to market faster. we're talking to a former epa official. i want to know what's been the holdup? she will tell us. we will also be joined by this man.

he's from tarrant county, texas, one of the few counties with a population of over a million that voted for trump. he visits the border frequently. i want to know what he's seeing on a daily basis. we will be joined by the white house deputy press secretary, hogan gidley. i'm going to ask him about the shakeup at the white house. barr's fbi probe. and the economy. can the administration get anything done with the democrats in the house? a lot to go at today. stay with us. jam-packed hour for you. (nationwide jingle) you see brad, songs are really about big life moments. baby shower here. big. life. moment. what is in here? ohh! oh, i hope it's a life insurance policy. what? it's a sensible gift.

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stuart: we talked about this moments ago. senator warren releasing her 2018 tax return. it shows an income of between her and her husband, of

$900,000. warren and her husband paid around $200,000 of that in taxes on that $900,000 income. what have you got to add? liz: her effective rate is a low 27%. she takes a whopping great amount of deductions, local newspapers of massachusetts have questioned her charitable donations for inflating them in the past. we will be looking through her deductions on this return. stuart: you make $900,000, your effective tax rate is 27%. liz: that's correct. stuart: thank you, mr. president. i don't think she will say that. busy day on the hill. any minute now, congressman jim jordan, mark meadows and kevin mccarthy, on the house oversight committee, they will hold a news conference now on what's next for michael cohen. we will be sure to keep you update order that d if and when some news. bernie sanders unveiling his medicare for all plan. seema, thanks for being with us. i know that you say this

medicare for all quote, is the greatest threat to innovation in health care. spell it out. make your case. >> thank you. thanks for inviting me this morning. you know, as head of the program, head of the medicare program, i can tell you these proposals are deeply concerning to me. the reality is that medicare is a program that our seniors have paid into their entire lives and what we're talking about is the complete government takeover of our health care system. this would mean adding 180 million people to the medicare program. with a government takeover, we can see from other countries that we are going to have long wait times and rationing of health care. i think our seniors deserve better and all americans deserve better than a $32 trillion price tag. stuart: why would it interfere with medical innovation? >> so you know, if we look at what works in the medicare program, that's medicare advantage, where our private health plans are competing on the basis of cost and quality,

and when there's competition, there's innovation. we can only look at the v.a. to see what happens when there's a government takeover. there's no competition in the v.a. system. unfortunately, our veterans that deserve better are experiencing long wait times, provider shortages and poor customer service. that's what we can expect with a government takeover of our health care system. stuart: speaker pelosi says, now, she's not going to sign on to bernie's plan. she wants to stick with obamacare. do you think that that is a better option? >> obamacare is not working and i think that's why we're hearing calls for medicare for all, because there's an agreement that obamacare isn't working. if we look at what's happened to america since obamacare was implemented, we have seen rates go up by over 100% and in about a third of counties in america, they only have one choice of insuror. the reality is people can't afford these very high cost premiums and so we have had over

a million people just leave the individual market because they can't afford coverage. simply put, obamacare is not working. stuart: seema, we are very short on time but we want to bring you back when we find out what the republican plan for health care is. you can go through that with a fine tooth comb. thanks for joining us. always appreciate it. >> my pleasure. thank you. stuart: couple of stocks, want to check them. first of all, lyft, that's a new low. $63 per share. remember a couple of weeks ago it went public at $72. now it's $63. we are waiting for the bank ceo hearing to resume on capitol hill. we have had some confrontations already. when it comes back, aoc, alexandria ocasio-cortez, she is among the democrats who will be asking questions. stay tuned for that. check this out. first ever images of a black hole located in a very far-away galaxy. three million times the size of the earth. larger than our entire solar

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stuart: an update on the woman who seemingly strolled into the president's mar-a-lago resort, she had passports, she had malware. do we have her picture? liz: yeah, we have for the first time a picture of her. she's 33 years old. what strikes me about this, she had a ten-year visa that she's been in and out of the united states since 2016 on this temporary visa, where you can come here for things like business conferences or medical procedures. on top of the things she had on her that could pick up hidden cameras in her area. this mystery deepens. we don't know why she was here -- stuart: hold on. she had this detector so she could walk into a room,

supposedly, and find out if she was on camera? liz: that's correct. stuart: she could find out? liz: that's correct. stuart: that's important. liz: that is important. stuart: if you want to plant something, it's nice to know that you're not on camera. liz: that's a great point. stuart: we don't know who she was working for, if anybody. liz: the authorities keep saying she never tells the truth so it's very difficult to get to the truth with her. she also had reportedly $8,000 in cash in her hotel room. she said she wanted to use the pool when she didn't have a bathing suit on her at mar-a-lago. this mystery deepens and calls into question security at that hotel. stuart: that is absolutely -- wonder if we will ever get to the bottom of that one. there will always be questions. president trump is en route to texas. he's going to sign two executive orders which lift regulations and make it easier to build pipelines and drill for oil as well. next, we will be talking to a former trump epa official who says this is a very big deal. we are also talking to the white house deputy press secretary about the attorney general, william barr's

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stuart: it really is a go nowhere stock market today. it may change at 2:00 eastern time, when we get the fed minutes about interest rates and the future. we'll see what happens at 2:00 eastern. all right. now this. president trump on his way to houston, texas, where he's going to sign a couple of executive orders aimed at streamlining the process for getting pipelines built. with us, former epa official. manny, first off, what's been holding up construction of these pipelines? >> well, needless delay has been holding up the construction of these pipelines and if you ask a bureaucrat today what is their worst fear it's having to make a decision. what president trump is doing through his executive order is doing away with varied decision making authority through the extensive and complicated bureaucratic process, pulling that out and saying hey, you

need to build out our energy infrastructure because it's good for the american economy, it's good for jobs, and it's good for the voters that put him here, as the businessman in chief, not the bureaucrat in chief like we saw in the last administration. stuart: will this work, if you cut this red tape as you have described, will that really clear the decks for construction? because i know especially in texas, around the permian basin, they have all this oil but they can't get it out. they drill for it, they pumped it up to the sfurface but they can't get it out because of lack of pipelines. >> yes, encouraging energy infrastructure development will absolutely work. that's what the president's executive order is aimed at doing. the pipeline infrastructure is the safest, most efficient way to move american energy and we need to build that out. that's exactly what the president's executive order is aimed at doing. stuart: you know the greens will go immediately to court. >> of course.

they try to abuse the process and they try to use courts and many of the court systems that are packed with obama-era appointees that want nothing more than to destroy the successes of president trump. but president trump is fighting back against that as we would all expect and he's trying to cut through the red tape and the inappropriate behavior by some in the judiciary branch. you are exactly right. the greens are going to go to the courts and try to plead their case. but their case flies in the face of the statutes on the books and this executive order that the president will be signing today in texas surrounded by the engineers and the multiple people that will benefit from this good decision, they will be reaping the benefits of that and trying to cut through the bureaucratic problems and barriers that have been put up by the last administration. stuart: look, i agree entirely. this is exactly what one wants to see. one wants to see america's energy dominance just be

extended. we want it. we want to produce our own energy. we want to be energy-independent. but i've got to put it to you, every single time in the past whenever something has gone against the greens, whenever it's gone against them, they go straight to court and they almost always either win or delay forever. are you really telling me that an executive order can cut through any court decision which goes against it? really? >> well, it's not about undercutting the role of the courts. what it's about is directing the agencies to provide clarifying regulation, rules and guidance that the courts will ultimately look to in building out a record of support. when the courts are looking at cases that the greens challenge with regard to infrastructure projects or pending permit decisions, they look at the record before them and what the president's executive order does is it directs the agencies to

clarify what is required so that when the court is looking at something, they can make a very clear decision. so it's not to say, i don't want to mislead people to say that this is the fix everything type action, but it certainly set in motion a more honest discussion that the agencies will be laying out and will be presented to the courts that will lend itself the a stronger energy dominance agenda which has lent itself to the united states being for the first time ever, the number one energy exporter. stuart: is it number one energy export, not quite yet, i don't think. the saudis still are there, maybe the russians, too. >> net energy exporter. net. stuart: okay. we are drilling up more oil now than we have since like 1969 or something. we all support that. at least i do. mandy, thank you very much for being with us. great stuff, as usual. thank you. an update on the israeli prime minister and the election there. benjamin netanyahu came away, he

won, by the way. president trump extending his congratulations with a phone call to the prime minister. they are great allies. president trump called him and netanyahu a strong leader, saying america has no better friend and ally than him. liz: and the president said he's working now, watch this, he's saying bibi's victory puts a path forward for peace with palestine and israel. that's what the president has his sights on now, a peace deal between israel and palestine. stuart: that would be remarkable, would it not? thank you. check bed, bath & beyond. bank of america merrill lynch raising its price target on that stock. they originally thought it would go to 21, now they think it will go to 25. it's now at 18.89. bed, bath & beyond. okay. momentarily, we will be joined by sheriff bill wayborn from tarrant county, texas. one of the few counties where the population of more than a

million people voted for president trump. he visits the border frequently. i want to know what he's seeing on a daily basis. first, we will talk to the white house. what's with the shakeup at the department of homeland security? i will put it to the white house people, are they doing a good enough job of getting the economic message out there? plenty more to go on a jam-packed day. stay with us, please. ♪

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stuart: as we said, a go nowhere day for the dow industrials. that may change at 2:00 eastern when we get the fed minutes. i twhoohink we've got time for big tech names. look at apple, just shy of $200 a share. alphabet, amazon and microsoft,

all up. look at microsoft reaching $120 per share. i've got a little tiny piece of it. i'm a happy guy. to the border crisis. what a week for the department of homeland security. secretary kirstjen nielsen out, replaced by border protection chief kevin mcaleenan, and the acting deputy -- acting dhs deputy secretary also out as well as head of the secret service. i think we better bring in hogan gidley, white house deputy press secretary. what's behind this shakeup? can you tell us? >> listen, obviously secretary nielsen thought it was time for her to depart the department of homeland security. she obviously resigned and now we have kevin mcaleenan in place and the president has the right to have the team in there he wants to implement his policies. kevin mcaleenan is an expert. i sat with him on the plane over to calexico last week. we had great conversations. not only is he knowledgeable but he's been doing this for the better part of 20 years. stuart: hogan, it's a major shakeup of a very significant

department. was this -- is this what president trump wanted? did he push for these resignations and changes? >> well, what he wants is a solution to the problem, the crisis we face along the southern border. he's got to have the people in place to enact his policies. we believe kevin's going to do a great job. stuart: did kirstjen nielsen fail, then? is that why he pushed her out? >> she's a career public servant. we appreciate her service but it's time to move on to the next phase. she resigned and everyone wants to continue to talk about exactly how that happened and the tick-tock. it's not about that. what we need to talk about is the crisis on the border. the surge numbers are 76,000 plus people in february, more than 100,000 last month. i mean, this is reaching a level that no one even thought possible. what's so damaging and dangerous about this is it's children and women coming up to this country for the first time making these dangerous journeys but not just on their own. they are being used by human traffickers and child smugglers and drug cartels. this is a horrific situation.

democrats have to come to the table -- stuart: you are right. i'm just going to ask this. the director of the secret service, randolph alles, he's out. does his ouster have anything to do with the security incident at mar-a-lago? >> no. in fact, this was in talks for a couple of weeks. it has nothing to do with that whatsoever. he served well also in that position and we are putting someone else in that spot, too. look, there are a few changes we're making here, obviously, but we've got to do something to fix the border crisis, as i said. stuart: i'm just going the read this tweet from congresswoman alexandria ocasio-cortez on kirstjen nielsen. i want your response to it. i'm sure you have seen it. just for our audience. in stealing thousands of children, deporting their parents and refusing to provide info for reunification, secretary nielsen oversaw one of the largest scale human rights violations in recent history. awarding her a lucrative deal or prestigious post is to legitimize and celebrate that

abuse. in aoc's eyes, nielsen should be unemployed for the rest of her life. it's like a personal vendetta. what's your response to what she was actually saying there in that tweet? >> i just wonder if ocasio-cortez has ever met a job she didn't want to kill. let's see what she did, her own district, when she refused to let amazon locate there to employ several thousand people. she put forth a green new deal that everyone says they supported, but no one voted for, that would absolutely destroy our economy, give people who don't want to work not only salaries but paid vacations, and now she's saying kirstjen nielsen shouldn't have a job, either. i guess the only job acceptable to ocasio-cortez is a government job so she can then dictate to everyone else what jobs they can and cannot have. by the way, her information is just factually incorrect. not only did barack obama separate families along the southern border, so many of those children come to this country through self-separation from their country of origin when their parents send them on

this journey, when child smugglers i just mentioned take them and steal them and use them to get into this country. it's such a dangerous situation down there that often when children get here in those family units, we find out they're not actually members of those families, they are just being used and abused. so you've got to separate that to protect the child. it's just ridiculous what she's talking about. stuart: i think big news was made on capitol hill just a few moments ago. attorney general william barr is testifying. listen to what he said about spying on the trump campaign 2016. roll it. >> spying on a political campaign is a big deal. >> you're not suggesting, though, that spying occurred? >> i think spying did occur, yes. i think spying did occur. the question is whether it was predicated, adequately predicated. i'm not suggesting it wasn't adequately predicated but i need to explore that. stuart: that is a very big deal. spying did occur. the trump campaign 2016 was spied upon by u.s. intelligence

agencies. what do you make of this? go at it. >> it's absolutely incredible. the president addressed this just moments ago before he got on to the helicopter on the south lawn. the american people should be quite concerned about what's going on in the federal government here. we have talked about this for a long time and now after 2,800 subpoenas, 500 witnesses, 500 warrants, 40 fbi agents, 19 attorneys, we find what everyone already knew, no collusion, no obstruction, no corroboration with a foreign power, a complete and total exoneration for this president, and now we are finding out even more. how did we get to this point in the first place? the president alluded to it there and so did attorney general barr. people were wiretapped. people were looked into and spied upon. that should be a serious question that the american people should demand answers for. quite frankly, so should congress. they won't even accept the findings that there was no collusion and no corruption. but they're not even asking for how did we get here in the first place. they used a fisa warrant that

has now been proven to be debunked and bought and paid for by a campaign. people need answers and they deserve answers because if your government can spy on any person in this country, based on a political grievance, that's a dangerous place for us to be. stuart: i notice that the president, before he left for texas, was talking about the strong economy. i expect him to be pounding the table on the economy when he gets to texas later on today. i'm sure you're encouraging that, aren't you? >> absolutely. look, we are in record-setting territory with the economy and it's all because of this president. think about where we were. 1.9% gdp was supposed to be the new normal under barack obama. never would you expect manufacturing jobs to come back. people like paul krugman said this president would irrevocably damage the economy. instead we are seeing pro growth. this agenda of cutting taxes and regulation has brought jobs back to this country that we were

told would never come back, or never happen again here. this is an amazing occurrence. it's all because of this president's policies. he's going to go to texas today and talk about energy and how we are now the world's largest energy producer as well. this is going gangbusters for this president. we expect that to continue up to and including the next six years. stuart: i have to leave you but i do want to share this with you. even "the washington post" says that it is a quote, startling assertion by the nation's top law enforcement official that spying did take place on the trump campaign. that's "the washington post," for heaven's sakes. >> that will be the news today because that is serious and there were questions about that before this investigation was over. now we know. stuart: you're wrong. you're wrong. it will not be the news today. you're not going to see much about this on the evening news or the "new york times." you're not going to see much. >> if we don't, then it's a shame. that's a dereliction of duty on

journalists all across this country. stuart: well said. next, sheriff bill wayborn is down there near the border and says immigration is the number one issue for residents there. he will give us a status report. he's next. am car. it turns out, they want me to start next month. she can stay with you to finish her senior year. things will be tight but, we can make this work. ♪ now... grandpa, what about your dream car? this is my dream now. principal we can help you plan for that .

stuart: president trump will be landing in san antonio, texas in about an hour. he's going to sign those pipeline executive orders. the border crisis is still very much on his mind. here's what he had to say as he headed to marine one earlier this morning. roll tape. >> i think that the whole asylum rules, laws and regulations have been taken advantage of by people that are very bad people in many cases, these are the people running the cartels. they are gaming the system, they have been for years. the only difference is our economy is now so strong that more people come up. we have done a great job at the border with bad laws. stuart: okay. come in, please, sheriff bill wayborn, tarrant county, texas

sheriff. welcome to the program. good to see you, sir. >> it's an honor to be here with you. thank you for having me. stuart: i wonder if you would be a scene setter for us. we hear about migrants pouring across the border but what's it like in your county? set the scene. do you see them on the streets? >> oh, yes, sir. we are in tarrant county, greater ft. worth area. we are several hundred miles away from the border but we deal with border issues every day. an incredible transportation system, the narcotics, traffic, we are the hub. we know what comes up to us. we know we have cartel families making decisions in tarrant county. it's flooding in and we have a ji jail population in our county of about 4,000. on any given day, 7% to 8% of that population is going to be felonious illegal aliens meaning they have violated our laws and end up in jail. several of them are cartel members. several of them work for the

cartels. stuart: we have had video from the el paso area about a week ago where -- and from arizona, too, where you could see the migrants who have come across the border and have just been caught and released immediately. they are sleeping on the streets. there are tent encampments we have seen. is that true in your county? >> we haven't quite seen that here yet. but it's coming to us. we know it's coming to us. we missouri tknow the migrant c homeland security is looking for shelter for them in the area. we know it's coming up. it will be on all of our infrastructure, our schools, medical, law enforcement, all those things will be affected. i was at the border a couple weeks ago and i saw exactly that. i saw all those people coming across the border but they are not staying on the border. they are going to go in country somewhere. they basically have got this pass with a court date four or five years into the future.

not anywhere near the time that they come across. it's also worthy of noting while i was there, 93% of the people coming across that border were not from mexico. they represented 44 other countries around the world. a lot of it was chinese, bangladesh, middle eastern. those people are there, they are coming across that border every day. stuart: what do local people think about this? can you give us an assessment of what the people of tarrant county, texas, what do they feel about this? >> the people of tarrant county in a recent poll indicated that that was the number one issue, is sealing that border up and redoing our immigration laws. as the president, i just heard him speak, he's spot-on with his intel that we confirm that on a local level. everything he said, we have confirmed on a local level that they are gaming the system right now and the people of tarrant county know it. we are seeing people that, you know, we have cartel members in our jail that were murderers and we have ms-13. we have all those things. if they feel like the border is

the number one priority in these polls. stuart: sheriff, we appreciate you being with us today, sir. great stuff. >> thank you for having us. if i may add before we go, if our army and military receive the support from that leadership of congress that the border patrol's receiving, i would be very fearful for our volunteer army. we have a leadership crisis in washington and they are called congress. stuart: thanks for joining us. we appreciate it. >> thank you. stuart: got to go back to that hearing, the bank hearing on capitol hill. here's what happened earlier when chair maxine waters asked about the banks' role in the rising student loan debt crisis. watch this. >> $1.56 trillion in student loan debt. last month this committee received testimony that last year, one million students' loan borrowers defaulted which is on top of the one million borrowers who defaulted the year before. what are you guys doing to help us with this student loan debt?

who would like to answer first? >> we stopped making student loans in 2007 or so. >> you don't do it anymore. >> we actually did student lending in 2009. >> mr. dimon? >> when the government took over student lending in 2010 or so, we stopped doing all student lending. >> thank you. stuart: i'm sorry, i have to say that is astonishing. the chair of the house financial services committee which regulates banks, the chair, maxine waters, did not know that ten years ago the government nationalized student loans. that those bankers she was haranguing have nothing to do with student loans. they don't make student loans. the chair did not know that. i find that extraordinary. absolutely. what a show. we're not done. more "varney" after this. i'm working to keep the fire going

for another 150 years. ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ . .

stuart: the most important story of the day thus far has nothing to do with the bank hearings or the justice department, the fact that the attorney general of the united states of america confirmed on capitol hill this morning yes, spying took place by u.s. intelligence agencies of the trump campaign in 2016. they were spying on a presidential campaign. i find that astonishing. liz: bombshell. really certainly shake the d.c. establishment. it will rattle democrat cages down there. the issue here is the obama administration. started under that. that is what the allegation is. the way william barr presented his, what he said, that it did, in his opinion happen, he brought up the vietnam war protesters being spied upon by the government. he lived through that. he said that's dangerous when a government does that. so he positioned it that way.

irrefutable that was wrong for vietnam war protesters to be spied upon. david: american government did that in 2016. that in my opinion a bombshell. my time's up. david asman in for neil today. david, it is yours. david: good to see you back, thank you very much, stuart. fox on top of capitalism on fire. bank ceos facing financial services committee for the first time under packs even waters leadership. and things are getting heated. welcome to "cavuto: coast to coast." i'm david asman in for neil cavuto. we have congressman kevin brady, former louisiana governor bobby jindal and former cke restaurant ceo, andy puzder. first deirdre bolton on the latest on the bank backlash. deirdre. reporter: that is right, david. very good to be with you. i'm here on capital hill. there are panel of ceos seven is of them from large