real fast. as for the stock market, a little caution there. who wants to go out on a limb right ahead after three-day weekend. deirdre, ashley, thanks for everything today. have a great weekend. neil, it's yours. neil: stuart, thank you very much. we're waiting for president of the united states. sometimes he talks to reporters on his way heading out to japan. this is scene of joint base andrews. he is still at the white house. not all the time, normally, most of the time president stops to talk to reporters on his way out to marine one. maybe he will update us on that, back and forth with nancy pelosi and crying chuck schumer. he might comment on the markets rebounding a little bit today, just a little bit. we're still looking at a fifth straight down week. something we've not seen in eight years. ben cars sons on democrats call for his saying for him to resign that he is ill-prepared to

handle housing-related issues. bet the read from white house from blake burman. president heads to the g20 summit in japan. back and forth on trade talks always out there. blake? reporter: as we stand on the north lawn we believe president trump and first lady melania trump are still inside the residence. they are expected to leave the white house any moment. those two are headed to japan over the holiday weekend. they're there to meet with the new japanese emperor, attend festivities related to that this will give president trump face time one of his biggest allies on the world stage, japanese prime minister shinzo abe. there are a host of mutually related interests those two talk about, china trade, north korea, et cetera. we do await as you mentioned to see whether or not president trump will stop to talk to the media gathered on the south lawn right now. there are a host of issues the president could be asked about. of course trade is certainly in

focus as the chinese today have some new comments out related to some comments that the secretary of state mike pompeo made yesterday as the secretary of state essentially said that there is a direct link between huawei and the government of china. today a spokesperson for china's foreign ministry said the following, reacting to that, quote, these american politicians continue to fabricate various assumptions of lies to try to mislead the american people and now they are trying to incite idealogical opposition. to be frank, this is totally illogical. gives you an idea right now where the president, maybe the u.s. and china stand on many issues as it relates to trade potentially. the president hit on that in the white house as well as it relates to huawei. watch. >> look what they have done from a security standpoint, military

standpoint it's very dangerous. it is possible huawei even would be included in some kind of a trade deal. if we made a deal i could imagine huawei being possibly included in some form of, or some part of a trade deal. reporter: that certainly is a change from the administration's point of view, neil. woe sit on the north lawn, waiting for president to talk to us, there will be questions about the new policy, allowing attorney general bill barr to declassify documents relating to the surveillance activities during the 2016 campaign that order came from the white house and the president yesterday. said that the intelligence community needs to cooperate into that matter. so no word he yet as to whether or not president will talk to us. we still await for him to step outside of the residence. neil: thank you very, very much. blake burman at the white house. i misstated. this is not a g20 meeting. that will happen later in january, in osaka. this will be the first meeting a

foreign dignitary will have with a new emperor. this is commemoration of the american-japanese relationship. the g20 meeting is set for osaka in the month of june. despite the uptick in the dow today, it is still staring at its fifth straight down week, something we haven't seen in eight years. market watchers with us, scott shellady and john layfield. we're still looking at a weak may unless a miraculous turn around in the next week. are you worried? >> i'm worried about the he escalation coming out from the trade war. in china 1949 when they formed the communist party, they said never again. they ended what they call the century of humiliation. they would never again give in to imperial powers, when you

hear them say we'll never surrender, we'll fight to the end, reminiscent how they feel about imperial powers going back into their history. this to me is so much more important on chinese on level of national pride than an economic argument. i think we underestimated how the chinese have resolve to fight what they deem as an imperial power that lends itself to no off-ramp coming up easy to get on and potential escalation could be bad. neil: apparently, scott, you can help me with this, the markets are more seizing on optimism maybe trade talks resume, president hinting as much they will in couple weeks. we haven't gotten confirmation to my knowledge from the chinese on that. but it is another reminder how closely the markets dictate their mood, based on progress on talks with china or the lack thereof, what do you think? >> you know the equity markets are trading differently than the other two. fixed income and interest rates

and commodity markets. both those markets are flashing yellow signs, right? look what happened to crude the other day? other issues with cotton. we're getting warning signals from the commodities and energy sector for sure. you want to take comfort in this trading market? that will not give you any either. 10-year dipped below 2.30 as well. equity markets are flying high, depending what you're looking at 4 to 5% off all-time high, on the back of the fact that the u.s. economy is doing very well. slowly but surely may 10th was a watershed moment. looks like john layfield is right. this will be longer than we thought. they will not be interested in doing a deal. they might take us to the next election f that is the case, this is what i've been really say, not just the trade war, your biggest customer is being forced to shop at the shop down the road. if it is two or three years later, you put the yes, sir we're open sign coming up, are they come back?

i think we'll lose soybean business forever and other businesses for very sort of exposure for long time. they might get better relationships, cheaper supplier. who knows. that is the real worry the stock market woke up to. neil: gentlemen, thank you very much. a few americans are focused on chill time. 43 million expected to travel for the memorial day weekend. jeff flock in chicago literally in the middle of that throng. jeff? reporter: we hope the booming economy continues, that is part of -- i am sorry i took my hands off the wheel. sometimes i talk with my hands. as we're in traffic this is going to be one of the all-time busy memorial days ever. look at traffic predicted by our friends at aaa. travel by road up 3 1/2%. 37 million people, wow. over 3 million people in the area. 5%, even rail traffic up 4% this

year. and, you know, that is partly because of this booming economy. by the way apparently on this memorial day i come to you from the eisenhower expressway in chicago, aptly named after general dwight eisenhower i would argue his biggest claim to fame was not being president. at any rate, you see the skyline out the other camera of our car of chicago. first let me get to gas prices. they have been going up. they have moderated a little bit over the last couple weeks or so. you talked to phil flynn about it. he is concerned that oil prices will go back up, but at the moment they're holding. so there you go as we hit traffic here by the way. speaking of traffic, speaking of chicago, where are the worst places to be traveling and driving this memorial day holiday? according to our friends at aaa, would be chicago, detroit, l.a.,

three places noted for lots of cars. right now we are stuck in a traffic jam on the eisenhower expressway. this happens a lot so there you go, neil, happy memorial day to you. neil: to you as well my friend, be safe. thank you very much. in the middle of all of that a lot of americans have to worry about more severe weather if we haven't had enough this week. let's get the read from fox meteorologist rick reichmuth. >> neil, sometimes you get in a pattern in weather and can't get out of that pattern very easily and that is what is going on now. three weather eight, not weather nine, i will show you a different map. show you where all the severe weather has been. right across the mid-atlantics north of ohio valley and north of central plains. what you notice down to the south, none of that, because that is our pattern. this is incredibly strong high pressure has been bringing temperatures into the triple digits. we've been blow you through records this time of year across

the south. it is incredibly hot. on the west side where the storm track goes. that pattern will persist with us over the weekend into the early part of next week. because of that we'll continue to see the storm track move right here across the plains, back up over towards the chicago area. here you go. we have a threat for severe weather, not as much of a tornado throat but we could see a little bit towards chicago, peoria, davenport, iowa, same spots we saw yesterday. going forward into the day on saturday, the same spot. you get the idea. because the severe weather is going towards the same spot, comes with the storms and with the rain. we had incredible amounts of rain here. we're talking about flooding likely blowing away a lot of records especially the arkansas river, really worried about catastrophic flooding over the weekend. when you look at this, all of those little green lines, those are rivers that are flooding right now. we'll be watching a lot more as

some spots, another five to six inches of rain over weekend. neil? neil: rick reichmuth, the fox weather center. we're learning that the president is indeed talking to reporters on the south lawn before hopping on marine one. we'll get the tape on a delayed basis. but we'll get it. talking about committing 1500 troops to the middle east. largely protection, mostly protect sieve uses. talked about british prime minister theresa may's imminent resignation. he will have a chance to meet with her on june third only days before she steps down. he says he feel bad for her. we'll have more after this.

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neil: all right. we do know now that behind that building there, the white house, what they call the south lawn, the president is speaking to reporters as we speak. when that tape comes in, of course we will play it back for you in something called tape playback. did i get that right? that's what we do. we hit the rewiped tape, play, what we know he is talking about 1500 troop force he is sending to the persian gulf region. it will be for protective purposes. he will spell out a little more detail. he is talking a little bit about

getting attorney general william barr the power to declassify a a lot of documents that go back to the 2016 surveillance of his campaign. "axios" reporter stef kight where this is going. the freedom to start looking at stuff goes back a number of years, where does all this lead? >> i think it's interesting, this is something that the president has often talked about, he feels that the start of the russian probe was done for political purposes an his concern that his campaign was spied on and we're really seeing action on this now. we're seeing the president giving the attorney general the power to declassify documents that could potentially relate to the way the russian probe began, the way that the intelligence agencies collected information from the trump campaign in 2016 and we're just going to see this issue continue into the future. after a the mueller report we're still going back to the 2016 russian probe and how things

shook out. we're still going back to where this all, where this russian mania began. so i think we'll continue to see this being an important issue. we'll see a lot of awkward tension between intelligence agencies and the doj. they're investigating their own people, which makes for an awkward situation. neil: what i'm curious whether there could be smoking guns discovered here. obviously there was a big to-do how distinct is it to separate surveillance from outright spying and people went through linguistic hoops to find out what they were doing at the time. there was a lot of concern about republicans this was targeted over the top investigation based on a false premise and those conducting it knew about it. with i'm wondering about wherever people are about this issue, it will drag on for a while. this at same time democratic

house is getting closer to impeachment proceedings, outright, it is separating two parties from getting anything done, right? >> we're certainly seeing both parties taking the mueller report, and taking this whole russian probe issue, launching into their own investigations that are going in two completely different directions. we're seeing democrats really finding fault with the way the president handled the investigation. republicans in congress who are allies the president and now the president himself are directing their attention to how the probe even started. they're focused on whether there was any wrongdoing on the parts of intelligence agencies who were beginning these probes. so i think you're right, we're going to see this drag on. we're going to see this politicization of this issue and i think it's interesting to see the lack of faith that our own government has in our own government and we're seeing, we're going to see this issue drag on for a long time i think.

neil: you might be right. always good seeing you. have a good weekend. >> you too. neil: stef kight. the president is still talking to reporters. he feels bad for british prime minister theresa may. how does the uk move now after this? >> i do so with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country i love. drive safely.. . with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands?

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>> i am announcing i will resign as leader of the conservative and unionist party on friday, the 7th of june, so a successor can be chosen. i will shortly leave the job that it has been honor of my life to hold. the second female prime minister but certainly not the last. i do so with no ill will but with enormous and enduring

gratitude to have had the opportunity to serve the country i love. neil: all right. theresa may, announcing that she will formally call it quits as prime minister and leader of her conservative party on june 7th. she was the second female leader of country. maskinggy thatcher being the first. maggie thatcher in office a tad longer. what will conservative party do, who will be the next leader of great britain? we have former ambassador tot eu, anthony gardner now. any bets on who takes her place? >> a lot of people are saying boris johnson is in the top number of places to replace her. the home secretary and foreign secretary, jeremy hunt, it is anyone's guess. boris johnson seems to be well-placed. it is hard not to feel a degree of sympathy for theresa may,

that was emotional statement. and i have been watching her for a long time, i think history judged her harshly. she showed a lack of leadership in many ways. she didn't reach across the aisle. this should have been a national project, not a project to the keep the tory party together. she misread the eu her red lines were also ill judged. she will go down unfortunately in history books as a failed prime minister. neil: as former ambassador to the eu, they have been giving britain a hard time with brexit, disconnect from the rest of the union. will they be in your sense any different with the new prime minister? >> no. you know, if it is boris johnson, i've known him for 33 years. we went to school together. he will go to brussels. he will make some requests which are probably out of the question because they're just not compatible with the e.u. rules and laws. they will say no, the deal is in fact the deal. they have been saying that for a

long time now. he will come back to london, say i tried and failed, now it is time to leave without a deal. i've spoken to him several times about this going back years and he thinks that leaving without a deal is absolutely fine. now that's only if you actually discard all of the studies that have been done including by goldman sachs, bank of england, by the government itself in the uk saying that leaving without a deal would be a terrible idea. it would have a hit to the economy that's, would be certainly the short, midterm serious. and would take off a number of points of gdp growth for this country going forward. so i think it is deeply irresponsible but you know, he is speaking to an important part of the party have convinced themselves that all of the experts are wrong. neil: well, all the experts were wrong about the vote, right? maybe that, they agreed on something a lot sooner, we're going on three years, right, that we could have avoided all of this. what is your sense of that?

>> well, of course experts have been wrong in the past but, you know, to say that there will be a hit to the economy from a no-deal brexit is extremely logical. if you lose access to your most important market, or frictionless access to be clear, frictionless access, to your most important market it, will be a hit. all the business community is united saying it's a terrible ideas. including american businesses who invested in the uk on the assumption they would have frictionless access to the eu, to the 27. neil: do you think ambassador, it could go the other way around, that the eu is concerned the sun might come up on britain after it leaves, it will tempt other countries that don't technically meet the qualifications to be within the european union, maybe italy or greece or portugal, they will follow suit and it is really the european union that is worried, not so much britain, what do you think? >> i disagree entirely.

there is zero chance of any country seriously thinking the eu following britain out the door. president trump thinks that is going to be case but it just isn't. italy you mentioned, the italians will never vote to leave the eu they can talk about leaving the euro, because they blame the euro for all the ills of economic miss management. neil: lira was a beautiful currency. coin was stunning. >> beautiful. they like, they like to deappreciate the currency every couple years. let's be serious. none of the 27 is going to follow the britains out the door. it is for a good reason because this has been such a botched process, that in fact it is opposite, the 27 look at this process, actually you know what? we kind of like the eu it actually provides us an important tent of security in many ways in turbulent word, right? look at polling numbers, in

fact, many people are feeling more positive about the e.u. than beforehand. so it has had the reverse effect. neil: if there were another vote, put this to the people again, i'm told much closer than i will ever be, that the brits would vote similarly to break away. >> it is possible. no doubt about it because there is now a lot of, unfortunately nationalist rhetoric going on here. even if it went the other way i agree with you, it probably wouldn't be dramatically different. neil: right. >> in fact one of reasons that would trouble me having a second vote is that if it is 52-48 to stay, you know that doesn't really solve anything. there will be certainly be clamor for a third referendum saying well, you know this time, it went the way the remainers want but we need a third vote. that clearly can't happen. so my reluctant conclusion is, that the uk is got to leave. i don't see how another vote can happen but i think it was a mistake. neil: ambassador, real pleasure.

thank you for taking the time. >> thanks. neil: the president, we'll get that tape pretty soon. tape playback from the south lawn. this is right before he hopped up on marine one, to get it to joint base andrews for the trip to japan. he will be traveling quite a good deal over the next few weeks, not only for the trip to tokyo but later on in the month of june to osaka and the g20. the president a few minutes ago. >> we want to be very transparent. as you know i declassified everything, everything they want. i put it under the auspice of the attorney general. he is going to be in charge of it. he is a great gentleman and a highly-respected man. everything they need is declassified. they will be able to see how this hoax, how the hoax or witch-hunt started and why it started. it was a, an attempted coup or an attempted take-down of the president of the united states.

it should never ever happen to anybody else. so it is very important. now people have been asking me to declassify for a long period of time. i've decided to do it and, you are going to learn a lot. i hope it will be nice but perhaps it won't be. [reporters shouting questions] >> we want to have protection in the middle east. we'll be sending a relatively small number of troops, mostly protected. some very talented people are going to the middle east right now. we'll see how, and we'll see what happens. [reporters shouting questions] >> it will be about 1500 people. reporter: [inaudible] any legislation -- >> sure that is possible but i do believe you can't go down two tracks because if you look at judiciary, if you look what's going on, all they talk about in the house is this. i would like to talk about

lowering drug prices which i have done better than any president ever. we had a year, this year as you know, drug prices went down, first time in 51 years. i'd like to talk about because with congress i can get prices down 40 and 50% but i can't do that when all they do is want to try and to a redo of the mueller report. they were very unhappy with the mueller report. they want to do a redo of the mueller report. it's over. there is no redo. they lost. it was very clear, there was no collusion, no obstruction. so there is no redo. reporter: should doctors be forced to perform transgender reassignment surgery? >> we'll see. we'll see. reporter: [inaudible] >> i feel badly for theresa. i like her very much. she is a good woman. she worked very hard.

she is very strong. we decided to do something some people were surprised at. some people western. it is for the good of the country. in fact i will be seeing her in two weeks. david? reporter: why are you considering pardoning war criminals? does that ending danger our troops? >> we're looking at a lot of different pardons for a lot of different people. some of these soldiers are people that have fought hard, long, you know we teach them how to be great fighters and then when they fight styles they get really treated very unfairly. so we're going to take a look at it. i haven't done anything yet. i haven't made any decisions as -- two or three of them right now. it's a little bit controversial. it is very possible that i will let the trials go on and i will make my decision after the trials. reporter: fate of michael avenatti. >> i wish him a lot of luck. reporter: talk to theresa may about -- [inaudible]. >> i may very well talk to her

about that. yeah, the, there is word and rumor that the fbi and others were involved, cia were involved with the uk having to do with the russian hoax. and i may very well talk to her about that, yes. reporter: has your relationship with nancy pelosi soured to the point of being too personal and some of altered videos, being disseminated, that is going too far? >> i don't know about the videos. i can tell you what i'm here to help the country. that is why i did this. our country is doing unbelievably well. we have the best economy we probably ever had. we have the best job numbers we ever had. we have the best unemployment numbers we ever had. with all the things happening that is what i'm all about. i don't think they can go down two tracks. i want to get drug prices down. i want to get things, if you look at struck strug, others i want to get a lot of things done. i don't think they're capable of

going down two tracks. they can only do one thing or the other. let them finish the one. what i don't think it is right you do a redo. they were very unhappy with the mueller report, no collusion, no obstruction. they are very unhappy. they have to get over their anger, they have to get over their -- wait a minute. they have to get over their anger and they have to get into infrastructure, drug prices, things like that. they want to do a redo. even the fact they're asking bob mueller to come and testify. he just gave them a 434 page report which says no collusion, which leads to absolutely no obstruction. he just gave that report. why does he have to testify? it is ridiculous. they ought to get on to drug prices, lowering -- we can cut them by 50 or 60%. the one thing i'm very proud of also on drug prices, i brought

it down, first time in 51 years that drug prices went down but if i could work with congress we could cut 50% and more off drug prices. i want work with the speaker. sure i can work with the speaker. i can absolutely work. reporter: what do you hope to accomplish with your personal attacks on the speaker? >> excuse me. this just shows how fake you and the news are. when you say, when you say a personal attack, did you hear what she said about me long before me. did you hear? she made horrible statements. she knows they're not true. she said terrible things. so i just responded in kind. look, you think nancy is the same as she was. she is not. maybe we can all say that but i think, i think frankly, i think right now, we are, i'm only speaking for myself. i want to do what is good for the country. i think nancy pelosi is not

helping this country. i think the democrats are obstructionists. they're hurting our country, very, very badly. we can pass so many different bills right now but all they want to do is investigate because they failed with robert mueller and the mueller report. they want to try to get a do-over of the mueller report. it doesn't work that way. and just so you know, i was most transparent and am, transparent president in history. we gave 500 witnesses, i allowed attorneys to testify in front of bob mueller. 2500 subpoenas, one million 400,000 pages of, we gave it. i didn't have to give any of it. we gave it. then we get a great result and they say, oh, this is terrible. let's do it over again. you can't do it. our country doesn't have that kind of time. reporter: [inaudible]. what if the barr investigation does not turn out the way you

think it will? >> we're going to see. as you know, i declassified, i guess potentially millions of pages of documents. i don't know what it is. i have no idea. but i want to be transparent. everybody wanted me to declassify. i've done it. and you can almost say he is the trustee, he is highly-respected man, our attorney general, is in charge. we'll see what he finds. but we have, we have documents now that i have declassified for the purpose of the attorney general. he can then show them to the public, do whatever he wants to do with them, but you have to get down to what happened because what happened is a tremendous blight on our country. what happened, the investigation, they tried to do a take-down, and you can't do that. let me just tell you, this should never ever happen to another president again. [reporters shouting questions]

reporter: what message do you want to send to military families concerned about you sending troops to the middle east? >> i think its is going to be sending troops to the -- good to the middle east. when i first got here they were at 14 different locations fighting. right now, i don't think iran wants to fight. and i certainly don't think they want to fight with us. but they cannot have nuclear weapons and under the obama, horrible agreement, they would have had nuclear weapons within five or six years. they can't have nuclear weapons and they understand that. reporter: mr. president, why should people trust the attorney general to collect what he declassify? even robert mueller expressed concerns about the way he handled his findings. >> the question is so false and so phony. let me explain. let me explain to you something.

the attorney general is one of the most respected people in this country. and he has been for a long period of time. he is going to look at a lot of documents, some he might find interesting. maybe he will find none interesting. but for over a year people have asked me to declassify. so what i have done i have declassified everything. he can look. i hope he looks at the uk. i hope he looks at australia and i hope he looks at ukraine. hope he looks at everything. because there was hoax that was perpetrated on our country. it is the greatest hoax -- excuse me, excuse me. it is greatest hoax probably in the history of the our country. and somebody has to get to the bottom of it. we'll see. but for a long period of time they have wanted me to declassify and i did. reporter: [inaudible] what is it truly about? is it about getting payback for the two years? >> this is about finding out

what happened. i won an election, easily, 306-223. i won it pretty easily. this is all about what happened and when did it happen. this was an attempted take-down of the president of the night. we have to find out, why did somebody write a text message, the two lovers if she loses we have an insurance policy, an insurance policy to take down the president? we're going to find out what happened and why it happened. reporter: sounds like you want payback? >> i don't care about payback. i think it is important for our country to find out with what happened. reporter: are you worried these investigations are hurting your re-election chances? >> i don't know. my poll numbers are very good. you don't like to report them. we have 48 today, a 51. we have very good poll numbers considering.

i have to tell you if you people would give straight news i would be at 70. i would be maybe at 75. but you don't give straight news. you give fake news. with fake news i'm still winning the election. but if you gave serious, good news the way you're supposed to, i would probably be at 70 or 75, based on the economy alone. reporter: mr. president -- >> go ahead. reporter: [inaudible]. >> go ahead. reporter: [inaudible] >> i spoke to prime minister modi, i gave him my warmest regards and congratulations. reporter: [inaudible]. >> i just spoke to prime minister modi, minutes ago and i just conveyed congratulations on behalf of our country and myself. he had a great election. he is a friend of mine. we have a great relationship with india.

reporter: william barr, you always -- >> i just want somebody that is going to be fair. i think william barr ask the most respected man, one of the most respected men doing what he does in our whole country. i just want him to be fair. i don't want him for me or anybody else. i just want him to be fair. that is what he is. we'll find out what this yields. but i will tell you, declassifying, people have wanted me to do it for a long time. i think it was very important to do. basically what are we doing? we're exposing everything. we're being, a word that you like transparent. we're being ultimately, we're being transparent. that is what it is about. again, again, this should never ever happen in our country again. thank you very much. [reporters shouting questions] neil: all right, the president meeting with reporters briefly, a few minutes ago on his way to marine one, on his way to joint base andrews, air force one, departing for a trip for japan.

a couple of footnotes, despite back and forth with nancy pelosi, he still hopeful that he can talk more with her. let's listen in again. >> [inaudible]. >> what? now he is walking again. neil: all right. i violated my own rule, when i didn't see him in camera range, i started talking. that was my bad. again, president of the united states on the south lawn, talking about this 1500 troop contingent, he is bringing to the persian gulf. they will be largely protective in nature. mentioned nancy pelosi at the outset, that the back and forth notwithstanding he thinks he can

very much on issues, she started it with the tacky comment led to him, making similar comment about her. in the middle of all of that, i want to pass along a item concerning jerry nadler, house judiciary committee chairman, had a fainting spell at press conference going on upper west side of manhattan. he is all right. he was standing next to mayor bill de blasio. he whispered something. de blasio immediately asked something for assistance. nadler's office says he appears dehigh crate greated. -- dehydrated. he is responsive and is having a checkup. we'll have more after this. iremu want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family

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♪ neil: here is something which both parties overwhelmingly can agree even when they're throwing names at each other, at least the president and speaker are. they agree overwhelmingly changing 401(k) plans, making them more available to more americans. eliminating maximum age which you can keep contributing, keep it going. a lot more to it, "barron's" publisher, best-selling author jack otter, what it can me for you when you approach your golden years. what do you think? >> there is a ton of stuff in this bill. one i really like, makes it easier for small businesses to get together to have their own 401(k)s. it is pretty expensive for small businesses to do 401(k)s. they take a hit or get a lousy plan for that i employees. through economies of scale, if they offer a better plan, that is really important. more people need to save for retirement. this makes it easier. neil: this was overwhelmingly passed in the house.

fewer than half a dozen voted against it. similarly well-received in the senate. >> president will sign it. neil: what are the bullet points for people who already have 401(k)s? >> if you already have one it doesn't affect you too much until you retire. at that point so-called required minimum distribution get as little higher. at the moment you start taking money out at age 70 1/2, you face a massive penalty. bumping that up to 72 1/2 and reducing the penalty. i understand why you want to force people finally pay taxes on all the money. neil: right. >> but the penalty was really harsh. it was their money. you shouldn't take that much. neil: also can contribute more? >> you can contribute more as increased catchup provision when over age 50. you can now contribute an extra 10 grand to the accounts. so that's good. i mean, for anybody who can afford another $10,000 a year, that is not the population -- neil: another 10,000? 6,000 now, right? >> another 10,000 on top of.

neil: on top of that? >> no. another 10,000 on top of the 19 that everyone can contribute. neil: got it. got it. now, for individuals who are not not 401(k) now, and let's say you worked for a smaller, how do you know whether your small or medium company will be interested in doing this? >> i think you should tell your small or medium company to get interested, unless you have a great retirement plan another way, which you do not. neil: what about annuity feature? people like that for guaranteed income? >> 401(k) plans will be able to offer annuities, i hope only way allowed to offer them for people upon retirement. because if you have been successful and you have this pile of money, waiting for you, that is good news, except it is really hard to figure out a way, called d.a. accumulation stage, how to pay yourself a stream of income. if you retire at 65, you could have easily 30 years of life ahead of you, to make the money

last is tricky. an annuity is one way to make it last. give it to the annuity company. they pay you that money back over the years. but it is tricky. a lot of them are bad deals with high fees. there are some good once, tiaa cref vanguard, are good ones. a lot of them are just not good for the user. they are 400 page disclosure. who will read that? neil: i always worry, whether you give a lump money to someone, good, medium, pristine, not, getting it to come back, you're doing that realizing that small possibility, depending on the company they could go out of business, then what? >> states offer insurance, up to $250,000 per, per annuity account. if you do have more than that you want to a annuityize, make sure you put up amounts.

you want to hire fee only advisor to scan the contract or can set up income stream with nice mix of stocks and bonds. that is what annuity companies are doing. neil: what if my company, not fox would never do this, hook up the wrong insurance company offering wrong annuity, can i sue my company? >> in a lot of cases no. that is scary to people and they should be worried about that. you have to do very good due diligence, your company choosing the partner and individual should as well. one interesting factor about annuities though, as we live longer, they call it longevity risk, that you outlive your money, it is actuaries at insurance company think you're going to die earlier than you are, then you actually got a great deal for annuity. you keep on living getting income stream even though they didn't think your money would last you that long. but, so all of these are

factors. health is very important consideration. family history, when thinking about annuity. neil: real quickly, wasn't that long ago they were talking about junking 401(k)s or reining them in. now they're going zooming up? >> it is crazy. so the 401(k) was originally intended a supplemental thing to help out a bit. it is now the defacto national savings plan. >> right. >> they are inadequate in a lot of ways but it is all we got right now. so i think this is the right baby step towards doing it, really it's a slow-burning crisis. this country has to figure out a better plan for helping people save for retirement. i want to point people towards tomorrow's "barron's." we have section on personal finance, including dangers of annuities for young people. can be great for old people. not great for old people. neil: locking them in early. >> when you're young you need growth. that is all you need. neil: got it. look forward to that, jack

otter, "barron's" publisher. learning more about jerry nadler, that he lost unconsciousness. someone brought over a glass of water. the chairman looked very pale. they appeared to take him to a hospital in an ambulance. this was a new york event with mayor bill de blasio. i guess he is going to be fine but it was a close call. more after this. ♪ [spanish recording] so again, using "para",

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neil: all right. stocks down today on the week here. in fact, if things go as they appear to be going, we could be looking at our fifth straight decline in stocks for the week. i think that's the first time in years we've seen a pace like that. we will see how it all sorts out. the optimism today seems to be built on growing talk they will start talking again in a couple weeks. the president says we got no confirmation of the chinese if that's the case. regardless of that lack of detail, that was enough to propel stocks today and the fact that huawei could be part of the discussions when we do resume talks and that surprised a lot of people yesterday when the president said it. hillary vaughn is in d.c. on that. gerri willis with the response to that at the new york stock exchange. in a little bit we will talk to housing and urban development secretary ben carson on all the cross-currents in d.c. first to hillary vaughn on the president's trade comments. hey, hillary. reporter: president trump hinting that a huawei crackdown could be a part of trade

negotiations with china. >> huawei is something that's very dangerous. you look at what they've done from a security standpoint, from a military standpoint, it's very dangerous. so it's possible that huawei even would be included in some kind of a trade deal. reporter: that is a change in tune from what the administration signaled in january, when treasury secretary steven mnuchin told maria bartiromo that huawei and trade would be two entirely separate conversations with china. but now the president is signaling that he might consider lumping in a tech crackdown with trade tensions as part of this discussion with china. china's foreign ministry of foreign affairs spokesperson reacting to the president's comments yesterday, saying quote, certain u.s. politicians have recently kept spreading all kinds of rumors about huawei without giving any evidence as required by various countries so huawei is really taking this from all sides, from countries

around the world, but they are in the process of working on their own operating system to kind of shield themselves from any type of tech crackdown coming from the u.s. neil: thank you very, very much. all we know at the corner of wall and broad, they like what they're hearing. the details don't matter or the fact some of the details might not ever come to fruition. gerri willis with more on that and the big board. gerri: that's right, neil. apple is the worst performing dow component this week. shares today are higher after wedbush analyst dan ives said negative sentiment on the stock overdone. he said the iphone sales in china could decline from just 3% to 5%, from chinese nationalist sentiment after washington's blacklisting huawei. that's a level he called contained. wall street has been watching apple for some time as a barometer of concern about chinese tariffs. ives writes it's the biggest threat currently to the company, retaliatory tariffs from china which he says could cut 2020 earnings of about $13 a share by

anywhere from 50 cents to $1.30. the current apple share price he says is estimating that in fact, 20% to 30%. his optimism is also based on apple's role in china's economy. the company em mroploys 1.4 wor and is a major strategic player in china's technology ecosystem. meanwhile, the dow experiencing, as you said, its longest weekly losing streak in eight years after a rally this morning, the index fell, then came back and it's all on trade fears, trade concerns, trade rumors. other poor performers this week are dow, cisco and nike. the standout for the week, merck. health care doing well. merck up 3.2% for the week. neil: gerri, thank you very, very much. with huawei part of a potential deal here, does it make it easier now to see a deal? lot of people concerned about that because huawei does spy on people and companies and they have been forbidden from dealing with our telecom concerns

precisely because it's been caught doing so. connell mcshane joins us with deirdre bolton and brett larson. on this, there are pros and cons, obviously huawei in the mix, it might help make for deals but it will raise eyebrows. >> it will raise eyebrows. one of the side angles is huawei is cheaper than some of the other carriers like the european carriers. you actually have a lot of rural communities in the u.s. who have already told the u.s. government we actually can't afford to be using the european carriers. we actually have to use huawei or you have to subsidize us. this is just one side issue that is playing a role. i was surprised for what it's worth by the president's comments. then of course what we heard from steve bannon is killing huawei is the most important, more important than the tariffs, more important than anything else, sort of choking off china's supply to our capital markets is another goal of his. >> i always think of gary

kaltbaum when the president makes a comment like he did last night even though it was after the closing of trading, gary will argue what's really happening here is the market is having a tough time, as it was yesterday. the president makes a comment like he did about huawei and today we're up. i don't know if there's anything to that but the timing is interesting. to deirdre's point, it seemed to kind of come out of the blue. to listen to bob lighthizer and others throughout this entire discussion, they are all separate. they would say trade's on one track, national security's on another track. chris wray made a tough speech to the council on foreign relations. it's really interesting that that came up in the questioning yesterday. neil: it sounds to me like they have discovered, when you go after huawei for whatever justification, it's a tangled web. it's $10 billion in business worldwide and most of that business is coming to american companies back and forth. >> right. they get a supply of chips from the u.s., which is interesting.

one of the stories i was reading today was they were clearly prepared for this. huawei was clearly prepared to get into a ground game. >> they were stockpiling. >> they were ready and are ready now. >> and are saying now we can keep this up for six months in one aspect of our business and in the aspect of the towers and all the equipment necessary there, we can go for up to a year. >> yeah. they named 30 american companies as core suppliers. just as you said, they have been stockpiling. >> with their own operating system. >> i'm not sure that's going to work out for them. operating systems are a very complicated thing. neil: you touched on it. >> i don't think we know. every time we talked about trade for the last year and a half or so, i have always said just based on the president's past comments, if you are kind of betting over/under on all this, i said listen, take the over. people say it's going to be a deal soon because he has a history of talking tough on trade but this is a little bit different. i'm not sure how he feels about the national security component of it.

he's always made comments like the u.s. is getting ripped off, it's always financial comments. i don't know how serious he is about the steve bannon side of this. >> the security thing is weird in the sense the uk and germany have said we know huawei listens and like okay, that's just part of having cheap telecom equipment in our country and we are going to put in our own systems in place. they are almost saying we know it's there and we know how to monitor it. so we are okay with it. >> yeah. encryption, it's very easy to do encryption, end-to-end encryption has become sort of the standard on all of our online communications, at least most of our online communications, so it would be pretty easy to still use their equipment, still use their router -- neil: everyone is going in wide awake knowing they do this. >> yeah. as long as you are encrypting the data that's going through it and doing it with a level that's high enough that it would really take, you know, massive amounts of -- neil: if you go after huawei, you are going to delay 5g.

>> absolutely 5g is going to be delayed by this. we are already a little bit behind on where we are with 5g. that has to do a little bit with huawei, a little bit with local communities saying we don't want all these towers to be put up. it also has to do with -- neil: why do you need all these towers? >> because of the way the 5g networks work. they have a very short wavelength, the millimeter wave, so you need more towers in more places. 5g won't really do well with what's called building penetration, when the signals can actually get into the building. those fancy 5g phones we will pay thousands of dollars for -- >> when you are sitting on your porch. >> they are not going to work once you get inside your house. deirdre brought up a good point regarding cost. the other thing huawei is able to do is provide low cost smartphones. >> cheap. >> cheap smartphones. more of what we do in our day to day life is relying on a smartphone. >> that's where the story is. they just make stuff cheaper. there's a lot of places that just want to use cheap equipment but the 5g point of course, i think that's really important to

the president. he's been talking about that, like we have to be ahead with 5g, we have to be ahead with 5g which is another story why i think the trump administration may let qualcomm get away with a little bit of funny business, because qualcomm is actually also helping to build out american 5g infrastructure. i have heard president trump as we all have saying numerous times 5g is really important. >> right. but on the american side of it in terms of infrastructure buildup there's no alternative. european countries, it's nokia and erickson. this is a huge deal in terms of how the administration sees this. think about how much commentary and articles have been written over the last week that this is much more than a trade back and forth or trade war, it's either a tech war, some people say it's some kind of new cold war. that's really the case. then going after huawei and other chinese companies on the national security grounds is something that you can't really give in on. if it's not, if it's just a bargaining chip, that's a completely different conversation going back to the first point. >> you can't say you are a

threat to national security, then say just kidding, you're not. >> that's my point. neil: they have a new feature in their contracts, this is true apparently with huawei, we won't spy on you. >> okay. that's a funny thing to read. neil: well now, okay. >> another funny side effect we are reading chinese state-run media is saying it's considered an embarrassment in china to use an iphone because of this ongoing trade war. >> not funny to apple, by the way. >> it is not. that is a huge market for them. neil: all right. thank you all very, very much. also finding out a little more about jerry nadler. he had a fainting episode or near fainting episode in new york. getting different views whether he was rushed to a hospital and was just dehydrated or something more serious. we are told he is okay. of course, the house judiciary chairman has been busy over the past week subpoenaing the president and anyone around him to testify before his committee. this all happened before or after the president spoke to

reporters before boarding marine one. he's on a trip to japan. the president of course will be busy in that country later on in the same month, in the month of june. he will be in osaka for the g-20 summit, this is a separate meeting, in between which he will squeeze in a last visit with the bright tish pritish pr. stay with us. 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.

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we are bringing our message directly to the american people and that is a message of putting the wellbeing and the interests of the american people first and foremost, ahead of partisan interests, ahead of corporate interests. neil: all right. hawaii congresswoman tulsi gabbard just on fox business a short time ago talking about how she will distinguish herself from a crowded field, nearly two dozen people right now, talking about fund-raising, where she will accept money, where she will not. charlie gasparino has been focusing on that very very closely and joins us right now. >> she is bringing her message directly to the american people on wall street, we should point out, in the next coming weeks. we should point out -- i mean, she's not the only democrat that has taken wall street money as they are basically saying they are not going to take corporate money but they are flooding wall street right now, from what i understand, with requests for donations. here's what we know. tulsi gabbard will be meeting with wall street executives for fund-raising. she will hold her first new york

city fund-raiser from what i understand the first week in june and she will be focusing on wall street executives. we should point out again, not the only one. on wednesday, mayor pete, how do you say his name? buttigieg? he held a new york city fund-raiser. we should also point out -- neil: wall street? >> wall street guys here in new york city, i'm sorry. left that part out. now, here's something interesting. there's been some reports that joe biden's going to have a new york city fund-raiser, that jim cheynos, the legendary short seller, might attend. so might andrew cuomo, governor of new york state. from what i understand, sources are telling me that biden's going to hold his first new york city fund-raiser next month. it's going to be hosted by the short seller, legendary hedge fund manager. one of the best investors i know in the markets. so you know, i will say this. the democrats, i get biden out of it because he really has not

been pounding the class warfare stuff like ignoring corporate -- he may not take wall street donors -- he may not take corporate donors -- neil: wall street donors are the guys themselves, not the firm giving the money. >> well, sometimes it will be the firm. neil: in this case, you know whether it is? >> these are individuals. they're not just wall street. these are hedge funds. i'm just saying, take biden out of it because i don't think he's being hypocritical about this. the other ones as you have seen from tulsi gabbard, they talk a good game about not taking these corporate donations but they are flooding the street, wall street, with requests. like i said, pete buttigieg out there. cory booker out there. i know a lot of wall street guys that won't give to him. people that used to like him on school choice stuff, they don't. they think he's moving too far left. kamala harris is out there. the only ones i think that are not out there, who i know are not out there, it's bernie sanders, the socialist, and elizabeth warren. those are the only two that are not directly soliciting wall street. neil: reason why i was trying to make the distinction between the

wall street guys and the firms, that is sort of a loophole for these guys to say we're not accepting it from the firms. >> yeah. yeah. yeah and it remains to be seen if they say well, we're not accepting their pac money but we may take a firm donation. we should also point out a lot of these firms, like we are saying banks, distinguished from hedge funds which are made up of individuals, a lot of these banks have cut back dramatically on the corporate giving. they will give through their pacs and whatever. but they won't give individually. but individuals will give. what we know now is, these guys are lining up for wall street and it's going to hit hard in june and tulsi's out there, we know biden is ready to do it with mr. chanos. neil: aloha. that means hello and good-bye. isn't that weird? until next week. >> hola. gracias. neil: news you can use.

meanwhile, president trump is supporting his next move to get bill barr to dig into what started an investigation a few minutes ago. >> we have documents now that i have declassified for the purpose of the attorney general. he can then show them to the public, whatever he wants to do with them, but you have to get down to what happened, because what happened is a tremendous blight on our country. neil: all right. former justice department official james trusty on all of this. it's easy to play politics with this. i do find it interesting, a number of people who are criticizing getting everything out there are the same people who were critical of the mueller probe and redactions and not getting everything out there. leaving that aside, i'm wondering about where this is going and what free rein the attorney general will have in going through all this now declassified material.

>> i think it's not just the attorney general. the interesting part to all this from my perspective is actually john durham, the very well-established prosecutor, very exceptional prosecutor, who has been assigned to look at the probes. he's shadowing already the inspector general investigation. now he's going to get access to a whole bunch of more documents that relate to the origination of the trump investigation and that's the guy to keep your eye on, because he's not shy. he is not a rookie. and he's going to be looking very hard at some very legitimate questions no matter what your political flavor when it comes to how this thing got started. neil: all right. if it confirms suspicions that a lot of it was based on the now sort of disputed and ridiculed, fictitious dossier, it would have to go beyond even that, wouldn't it? >> yeah. look, i think it's already pretty much understood that the dossier's at least not accurate. it could be completely malicious. it could be completely politically motivated. looks like it might be. but the reality is the people that used it had obligations to

use it either not at all or very carefully, disclosing the problems with the credibility of that dossier. that's where he's going to be looking at the fisa court application, most importantly the reapplications to figure out at what point did the fbi know this thing was suspect and not let the court know. neil: now, what obligation would the fbi have had, james, to give a heads-up to the campaign at the time? i understand you don't want to give away something that is an investigation ensuing that might involve the very people to whom you're talking, but at what point do they let the higher-ups know wait a minute, something fishy is going on here and we want you to be apprised of it? >> there's some discretion there. it's not like there's a black letter rule that says whenever you get to this quantum of proof, you have to go let the target know what's going on. but it's certainly interesting that in a highly politicized atmosphere they chose not to give a defensive briefing which would certainly be something you could see them doing, if they didn't think trump himself was committing crimes, but the people around him might be and

more importantly, if the russians were trying to. neil: peter strzok, lisa page, the lovers at the time who were talking about insurance policies to make sure worst case scenario he got elected, and we're not fans, would that come out? in other words, would that be revealed in any of the classified stuff that wait a minute, they knew they were pursuing something where there was no there, there. >> i think that's the stuff that durham is going to be just digging into, which is to figure out whether this whole bias infected things. it's one thing for prosecutors and agents to have their own political mindset. you're allowed to do that. but on the most sensitive type of public corruption probe, you want people to be acting the right way, being professional and objective and consistent across the probes. so durham might have a pretty broad look at this stuff which would include insurance policies, fisa abuse, bruce ohr meeting with christopher steele after he's been fired. a lot of stuff from the beginning all of us should want the answers to. neil: thank you very much, my friend. have a good weekend.

we are getting news out of united airlines that it's canceling boeing 737 max purchases by another month, now through august 3rd. that makes it about 40 to 45 daily canceled flights as a result. no indication if they will make up with existing jets, but yet another airline saying push it back. more after this. you wouldn't accept an incomplete job

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we're going to be sending a relatively small number of troops, mostly protective, and some very talented people are going to the middle east right now, and we'll see how -- and we'll see what happens. [ inaudible question ] >> it will be about 1500 people. neil: all right. 1500 largely protective troops, we're told, heading out to the middle east.

what do you think? >> yes. what they're doing, neil, secretary of defense shanahan mentioned it this morning, too, after the briefings, these are force protection people. in other words, these are folks who are building up and beefing up the protection for forces that are already in theater. so it's a self-defense measure. they are just stepping it up. that's all. neil: all right. the earlier talk, the president then properly did say in retrospect fake news, sending more than 100,000 troops, that's not in the offing, nor do you think it should be? >> no. absolutely not. what is taking place in iran right now, the threat was from credible intelligence of a credible threat against u.s. forces and interests in the region, so therefore, the battle group was surged into the gulf a little bit ahead of schedule. we beefed up the forces. there are 1500 more, as we have

just been discussing. but what's happening inside of nuclear deal was signed, their currency was 32,000 to the dollar. today it's 148,000 to the dollar. the average person there who has any savings at all, it's getting wiped out. so there's tremendous pressure on the mullahs to settle this thing with the united states and instead, what they're doing is provoking the united states and the arab countries in the region by stepping up their support of terrorist organizations. and oh, by the way, let me mention this, too. that decrease in their buying power has now hamas and hezbollah, which they have funded, they're terrorist organizations sthechthemselves, are now saying we cannot fund you as much and they're not doing bake sales yet but hezbollah is sending out on the

internet solicitations for people to donate to them. neil: chuck nash, thank you very, very much. to chuck's point, if this is rattling our oil markets, it has a funny way of showing it. jackie deangelis has been following oil and so far, sort of it's shrugging its shoulders, right? >> absolutely. we thought the same thing with the crisis in venezuela as well. five years ago, if either of these situations would have come up on our plate, we would have seen oil prices spike. that's how investors and traders tend to react. but you can see oil is under $60 a barrel. there was three main reasons for it. the first one is really coming down to supply and demand, economics, right? supply in the united states, 12.2 million barrels a day, that's the daily production figure. in saudi arabia right now, just about 9.7 million so that gives you a sense of how much oil we are pumping here. the dynamics of this business are completely different as a result of the shale boom and also as a result of fracking. second piece to this is china trade fears, right. people are looking at the stock market, they are worried that if the trade situation is not

resolved with china, you are going to see demand trail off. we have all this excess supply, you need the demand to absorb it. the final reason is the infrastructure deal. people were hoping to see that deal come through and thinking that would spur demand as well. right now it looks like those talks at least for the moment have stalled. so right now, supply outstripping demand at this point. you can see as we are going into memorial day, the average price of gasoline according to aaa, $2.85. that's 11 cents lower than it was at this time last year. the peak of the season tends to be the start of memorial day through to the fourth of july. you can actually see oil prices moving lower. this is really in some senses defying gravity and to the point of your guest before, you know, when you look at the middle east and iran, you think of the strait of hormuz and that's where the oil travels. that's what everybody gets nervous about when there's conflict in that region. but the dynamics here are just different and the iranians don't

have the kind of power when it comes to oil supply that they once had. that's why the president's strategies have been effective. neil: all right. jackie, thank you very much. have a good weekend. jackie deangelis following all of this very, very closely. when we come back, dr. ben carson, when you hear his name, of course, respected world-renowned surgeon, you also think of a guy who is extremely calm, who rarely gets upset. in fact, i have never seen him get upset. never agitated. that's even the case now, after a controversial hearing before the house. so controversial, one of the congresspeople talking to him want him to resign. dr. ben carson, next. drive safely.. . with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that.

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can you assure the committee you will not make any -- that hud does not have any current or future plans to eliminate the equal access rule in rule making? >> i'm not going to say what we will do in the future, about

anything. we don't know what we're going to do in the future. >> are you currently anticipating doing that? >> i'm not currently anticipating changing the rule. neil: all right. here is why that congresswoman questioning the hud secretary ben carson about all of this is the very next day hud did indeed propose a rule that would allow shelters to refuse to admit people on religious ground, force transgenders to use men's bathrooms, whathave you and she claimed the secretary lied to her. we thought it would be a good idea to talk to him about that and what he has to say in response. i'm happy to say ben carson is on the show with us right now, the secretary with us from washington. i believe he's in florida, west palm beach today. good to have you. thank you for coming. >> thank you, neil. neil: she says you lied, secretary. what do you say? >> i don't think so. the rule from 2012 is not in any

way being altered. the rule for 2016 has had some additions made to it. but it appeared to me that she was asking whether we were going to eliminate the prohibitions against discrimination against lgbtq community and we would never do that. i wonder what she would say if she knew how much i've had to resist people who wanted the rule taken out all together. neil: so maybe you can just -- it went into a relatively arcane area to many who follow hud policies, this was deemed to be -- can you just answer, how do you describe it? >> the rule is to prevent discrimination against lgbtq and of course, we would never take that down. or i would not during the time

that i'm here. even though there is a lot of pressure to do so. i think we have to be fair to everybody. but being fair to everybody means exactly that. it doesn't mean that you take one group and let their rights supersede other groups. so we try to be extraordinarily fair and you know, that's why we are opening things up to public comment, we are looking at having a forum at hud where we invite the various stake holders in lgbtq community as well as shelter providers as well as people who take advantage of the shelters and a whole group of others, and i want all of them to be able to express to each other what their concerns are before we make any definitive rule alterations. neil: you were described, sir, as having difficulty hearing during the back and forth with

some congressional members at one point. the word r.e.o. which one of the congresspeople questioning you were saying it was r.e.o., which stands for real estate owned and you said you misheard her. she's not buying it, that you were ill-prepared for it. this is jennifer wexton saying that the secretary lied to me and to congress, lied again when he called me to clarify his testimony, proving himself to be deceitful and inept as hud secretary. he should resign. what did you think of that? >> i think we have reached a very sad point in our country. a hearing that is supposed to be about what the policies are becomes, you know, just attack, attack, attack. not really being very interested in what the answers are. i hope we can move beyond that and really deal with the issues.

as far as r.e.o. is concerned, it used to be a very common thing, we used to have over 65,000 properties about ten years ago. we are down to 6500. i can honestly say no one has ever used that term since i have been at hud but i know what they are just from having grown up in detroit which there are a lot of properties -- neil: was she trying to trap you, is that what you're saying? >> i'm not sure what she was trying to do but if she wanted an answer in terms of why the rates are somewhat higher for fha properties than they are with the gses, that's because they take on higher risk customers. neil: let me get your -- you know, when you took on this job, there was a sentiment, obviously you are a world-renowned surgeon, people who don't know your past, impeccable credentials. you have done unprecedented surgeries, you know, separating

conjoined twins, that has put you in the history books. when your basic intelligence is being questioned at some level, that's got to tick you off. >> well, it probably would, but you know, for me, it's really not about me. it's about what we're called to do. i want to change this agency from one that just, you know, harbors people to one that puts people on a trajectory to success, recognizing that our people are our most valuable resource and if we don't develop them appropriately we will not be able to compete in the world in the future. so you know, i know that i'm going to be attacked a lot just because i'm in this administration and i'm with trump, and i know people won't look back over your life and the things that you've done, they just want to destroy but that's okay. i expected that. i fully expected that, knew that was coming. i probably should be a little

more prepared in these hearings for hostility and attacks. my general modus operandis is be nice and respectful to them, they will be nice and respectful to you back. obviously it doesn't work in this setting. maybe some adjustments need to be made. but look, i will always continue to try to do what is right for the people. neil: finally, secretary, cynics read when it comes to hud and this department, that republicans view it as just big government run amok, good intentions run afoul, and you came in to start taking it down. how do you respond to that? >> i came in to change it. there's no question about that. and it would be nice, you know, if we didn't need it but we do need it. jesus said the poor, you will always have with you and we will

always have elderly and disabled people and we need to find the most efficient way to take care of those. then for the ones who are work-able, we need to utilize the powers that we have to put them on the trajectory for success. and that's what we're trying to do. we are trying to do it in an efficient way, changing it from a gigantic bureaucracy to more of a business model. we have hired a cfo now finally, eight and a half years we had no cfo with billions of dollars flowing through. now we have some financial structures in place which will alleviate a lot of the problems that existed long term. you know, given for instance, you know, the dining room set that became so famous. nobody, none of the previous administrations, did any of those things that were supposedly to be done. that's because the system that was in place was inappropriate. those kinds of things have been corrected throughout the organization. the material defects have been cut almost in half. a lot of things have changed.

if you really want to find out what's been going on, go to hud.gov and look under the accomplishment section. i think you will be quite amazed. neil: well, we should have balance in all our reporting. i don't believe in your case, you have gotten that. dr. ben carson, very good having you, secretary. be well. >> thank you very much. neil: all right. president trump, nancy pelosi, you know they are at it again, right? let's just say it's escalating again. you probably know that. >> she's not the same person. she's lost it. >> i wish that his family or his administration or his staff would have an intervention. did you know with vanishing deductible, you can earn $100 off your deductible for every year of safe driving? sing that. ♪ vanishing deductible, you can... ♪ ♪ earn $100... ♪ earn $100 off... ♪ off your deductible. ♪ deductible. ♪ for every year of safe driving. ♪ ♪ for every-- for every-- ♪ ♪ for every year of safe driving. ♪ what are you-- what key are you in? "e." no, no, go to "g." "g" will be too high. not for me.

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walked into the cabinet room, you had the group, cryin' chuck, crazy nancy. i tell you what, i've been watching her and i have been watching her for long period of time. she's not the same person. she's lost it. >> this is not behavior that is -- rises to the dignity of the office of president of the united states. >> she's a mess. look, let's face it. she doesn't understand it and they sort of feel she's disintegrating before their eyes. she does not understand it. >> again, i pray for the president of the united states. i wish that his family or his administration or his staff would have an intervention for

the good of the country. neil: all right. it seems to be going well, the feud between the president and speaker of the house only seems to be getting worse, doesn't it? right now, we forget, though, that there was a point in history where there were great political divides between the speaker of the house and president of the united states, ronald reagan, tip o'neill come to mind and somehow stuff got done. "washington examiner" senior editor, founder and executive director of the foundation for liberty and american greatness and nick adams, democratic strategi strategist. you know, my only issue here is that we think it's different now. there's always been nastiness between opposing party leaders, speaker in this case, the president of the united states. tip o'neill originally came in with ronald reagan very critical of the new president and then solidified a very successful presidency and speakership for him. what's happened? >> that's a good question, neil.

i do think things have changed. what's happened? i think the democrats would claim what happened is donald trump. they think he's unprecedented in the history of american politics. i don't think that's the case. tip o'neill came in and actually said we are going to cooperate with the president. it's america first and party second. very nice words but of course, there was a strategy behind it. he believed that the country was, as he was right, the country was doing very poorly when ronald reagan came in in 1980. stagflation, energy crisis, there was a reason jimmy carter was booted out of office. he thought let's let the president have his chance, that's what the american people want. he didn't think the president would be successful and he thought then the president would be hoist by his own petard in a way. the strategy worked to some degree. in 1982 the democrats won a lot of seats in office but they ended up working together. the 1986 tax reform, that's kind of, you can't even imagine -- neil: no, no, you're right about that. i can't imagine it although

history can prove strange bedfellows in time. i'm wondering is that what's going on here. there was no secret tip o'neill was no fan of fellow democrat jimmy carter, thought he was self-righteous, a disaster, all of that. the two almost couldn't talk to each other, it was that bad. it changed with ronald reagan but it took a little while. i'm wondering here whether the same could happen, and your sense is that these two could put aside their differences and the friction in the middle of, you know, a campaign and let bygones be bygones. what do you think? >> they did it once before not that long ago when the republicans had a stalemate on the temporary spending bill, nancy pelosi and president trump sat down and got that done. i was hoping, neil, i was sitting here today and this disaster relief bill, i could point to that as having passed as some indication that maybe we can start working together across party aisles to get stuff

done but now i'm sort of questioning what's exactly going on. but like i said, nancy pelosi and president trump did it once before. let's hope for the good of all americans they can put their big boy panties and big girl panties on and get it done, neil. neil: don't hold your breath for the time being. nick adams, one of the things that amazes me, people are surprised that the president cut that meeting as short as he did. now, they point to the fact that democrats had already been talking increasingly about the "i" word, impeachment, but what did change that morning, i think people forget, is that nancy pelosi started saying with no corresponding evidence that the president was covering things up, that it was about a cover-up. a president-led cover-up. well, that changes everything going into a meeting, doesn't it? >> it does. and i'm sure that that had a lot to do with how the president decided to conduct himself in that meeting and end it early but you're right, there has always been political -- great political divides but there has

never been a patriotic divide. i think that's the difference that we see now. the reality is that tip o'neill and the democrats in the 1980s were representing america's best interests. they wanted america to succeed. they wanted the best to happen for americans. i don't think the same can be said of speaker pelosi and a lot of those who were elected at the end of last year. there's no consensus anymore on basic things. is america a great country. i think many of the elected democrats would have a different answer to 99.9% of the republicans that are there. so things have changed dramatically. there isn't a consensus on what it means to be an american. the values that the democrats want for america are more european. neil: you might be right on that. robin, if you don't mind, i do want to get your thoughts, too, on maybe nancy pelosi after that meeting with democrats she

called for yesterday morning, was shocked to see the vehemence and vituperativeness that was building and she had to walk a fine line and maybe she walked too far, especially with the cover-up allegation but she's kind of hostage to them. >> i think honestly, she baited him with that. she wanted him to come off unhinged and she's for all -- i have been a huge critic of hers but she is a masterful legislator. i don't always agree with her. neil: you mentioned that, too, she's walking a tightrope. >> she is. you've got all these people in her caucus that want impeachment and she knows that that is not popular with the american public. they want to decide who is president. they had their vote a couple years ago. they are going to have a vote in fewer than two years. but one thing i find interesting is that as soon as donald trump was elected, nancy pelosi mentioned infrastructure and said let's get something done on this. it's been over two years. so far, no deal.

neil: hope springs eternal, like professional wrestling they come out, love you, brother. they get that little wrestling reference there. more after this. i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪ to make each journey more elegant. at adp we're designing a better way to work, so you can achieve what you're working for. . . 24 hours, zero heartburn.

neil: all right, the dow is up about 97 points right now. we're still looking at at fifth straight down week. i should also posit as no doubt my friend and colleague charles payne would remind us we're

still up on the year for the major market averages a long way from the december hits around christmastime. remember that? everyone said we were in for a long bear market. they were wrong then. everyone snickered when charles payne said they were wrong. they are not snickering now. charles: thank you, neil. have a great afternoon. the market tries to rebound from a very steep loss yesterday. today's rise picks up from a late rally yesterday after president trump appeared to soften his stance on huawei. we'll be all over the markets on the show. also president trump stepping up his effort to investigate the investigators. this as he gives sweeping new powers to attorney general barr. theresa may throwing in the towel, saying she will step down next month, all but guarantying a hard brexit. what will that look like? that and so much more on making money. ♪