pandemic. down you go. hard to stop that what have we got? susan: happy note. we have something new for you. the baby yoda electronic plush toy with squeeze. it is important. disney is heavyweight. stuart: five, four, three, two, one, neil, it's yours. neil: look forward to that, do i? see what i did there? basic cable. thanks very much. we're looking same about the timing. might be linked to the coronavirus fears that it is escalating and certainly some deaths are spreading around the world. richard clarida segments on cnbc this morning before the market opened where the former federal reserve vice-chair, seemed to say the anticipation of rate cuts is not a guarranty. that was enough to sort of dampen enthusiasm, as i stress here, charlie brady our stocks editor and i were talking about this, theres were a lot to

pounce on the remarks an hour after he made them seems like a little bit of a leap here. it mixed into the selling sauce. the markets don't need to hear much to sell or trigger something. if they don't know what is happening on the fed front and certainly don't know what is happening on the virus front. as i often say they sell first ask questions later. we'll see. jackie deangelis on the new york stock exchange. with the dow down 265 points. an update. jackie? reporter: we're off session lows. it was interesting around 11:30 the market dropped the first 100 points. people were scratching their heads, asking if there were any headlines crossing the tape, what was causing this and there wasn't a clear explanation. when the second 100 point drop came, one gentleman said there were rumors floating around, chatter, that the markets were too complacent when it came to the coronavirus. there were concerns china is not forthright with all the information. maybe the numbers are not

accurate. maybe this could be worse than expected? sort of fear building on that, it is spreading to other countries maybe more quickly than previously thought. the drops like this, you see market impacts here, when a rumor like that starts to circulate and algorithm starts to kick in, that is when the selling starts and that could explain what is happening here. there was commentary about the comments about the fed earlier. those came out earlier in the morning. it wouldn't explain a specific drop like this. all of sudden we saw a shift. the yield in the 10-year start to fall. money flowing into treasurys. that is why the yield dropped. the money is going into gold. a 12-dollar spike last time i checked. 1624 is where gold prices are trading. the stocks hit hardest are technology stocks which are coming back to the coronavirus. remember the supply chains are located in china. we have news earlier this week about apple, look, we're warning about revenue because our supply

chain is based there. that is what you seem to be seeing crossing the market here. the one thing i've always said about the virus, since this news started was that, it was going to cause extreme volatility. we've seen the knee-jerk reactions today. this is another example of thats a the dow trading down 300 points, neil. neil: crazy times, thank you, jack. good for oil, good for bonds, good for gold, good for silver. let's get the read on that from phil flynn at cme? >> tell you what, oil prices this morning looks like they had shaken off the coronavirus. forget about the virus. talk about inventory inventories. u.s. oil join tories came in lower than expected. refinery runs, are strong for gasoline and. those supplies are tighter than you think. if you look at oil, neil, we were going for eight days in a row of higher closes in the

brent crude contract. wti has been keeping pace as well. if you look at the markets it has been a story of the come back right now. a lot of concern that maybe the price of oil had priced in too much demand destruction from the coronavirus. things maybe weren't that bad. so the market started to price that in. they tarted to focus on things like libya where their oil exports had been shut down to basically zero because of concerns. they're looking at the fact that rosneft got hit with sanctions by the united states which could tighten supplies even more. they were looking very optimistic on this run. then coronavirus headlines started to talk. people started to get worried about the virus, the selling started to kick back in. we started to see the risk off situation, safe haven buying in the treasurys. we saw safe haven buying in gold and oil not so much. oil pulled back off those highs. oil is still higher on the day, neil.

gasoline prices are also still higher on the day but if those virus concerns come back and they think this is going to spread, they might start penciling in the potential for more demand destruction going forward. they were shaking that off, saying hey, it would not be that bad. now they're pricing in a possibility might get worse. neil: you and i talk about this so much, my friend, but think about it, the movements up and down based on the latest news we had on the china trade talks. now on the china virus situation. if that is not a reminder how much influence and weight this region of the world places on all the world's markets i think we've settled that? >> i think you're absolutely right. you know, especially when it comes to energy. because despite the fact that the u.s. is the biggest producer in the world, one of the biggest consumers, the growth factor has been in china. when they shut down all the factories neil, they're not running a lot of oil. it was interesting, early in the week, we kept hearing how bad

demand would be in china, the chinese refiners, when prices got low started to buy. if you look at actual futures market, even though pricing in bad demand destruction, if you go out a few months, they're pricing this that demand will come back, maybe very strong in the second half of the year. let's hope the back end of the traders are right, because if they are, that means there is life beyond the coronavirus and there will be a strong economy when this thing finally gets past us. neil: which might be the reason why the fed vice-chair was saying if you're expecting a rate cut, not sew fast? >> right, exactly. he may be right. i'll tell you what, opec, russia and opec, they're reluctant to cut production as well because they're saying, well, wait a second, we might overreact and do too much let's wait to see how this thing plays out. it might not be as bad. neil: nice job. thank you very much, phil flynn on the floor of the cme. to put it in perspective, a 300 point hit on the dow is nothing

to sneeze at. keep in mind it is about 1%. keep in mind people don't need. of an excuse when they get a little anxious to sell here, they have had some heady gains for nasdaq going into today, up 9 1/2% on the year. s&p up 5%. the dow close to 3%. to say nothing of all of those averages double-digit advances last year. so sometimes with very little reason or trigger, they get triggered. this is one of those moments where they, again, sell first, ask questions later. we'll see. meanwhile there is the roger stone sentencing to look at too. that too could be a market-moving development especially with the president already weighed in the fact of original talk ever sentencing up to nine years for essentially lying to congress was a bit severe. you know what cascaded the day after that. right now the judge in the case, judge amy berman-jackson is weighing in and will be handing down that sentence. edward lawrence at the united states district court with the very latest.

where do we stand, edward? reporter: yeah. the judge is right now going through those counts, sort of admonishing roger stone with this. here we are two hours into the sentencing hearing. it was only expected to last an hour but roger stone on the way in, sort of hopeful coming into this morning. we do have video of him coming into the courthouse but his defense team tried to basically say he really wasn't making any serious threats. the judge reading some of the text messages though allowed, including expletives. it was more than just playful banter on misleading congress. the judge said, mr. stone, you lied. adding this prosecution all started according to the judge, it arose because roger stone characteristically inserted himself smack in the middle of the most incendiary issues of the day. looks like edging towards stronger end of a sentence for roger stone. came out said in the face of the gag order when stone, sort of ignored the gag order on social

media, the judge said this, this is intolerable to the administration of justice and the court should not sit idly by, shrug its shoulders, that is roger being roger. the defense said he is a family man, expected to be a great-grandfather, does charitable work. it seems the judge will come down on the harsher side, when the sentence comes down. it is imminent as the judge is speaking inside of the courtroom. she said to the prosecution and the defense inside, the original sentencing guidelines seemed reasonable. that was seven to nine years. so she does seem like she is going for enhancements related to all of these counts. we will again have this sentence in minutes from now. back to you. neil: she is not taking up the issue of tamika hart, the jury foreperson who clearly had a gripe with the administration, donald trump, and roger stone, said a lot of things people were told not aware of at the time. there was a push to even throw

out the case as a result. no talk of that, right? reporter: no talk of that. she already said she will delay the execution of this sentence until that hearing can take place. the department of justice has until tuesday to file a brief related to that. so that hearing will take place. we will know the sentence and seems coming down on the harsher side. we'll wait and see. let me check. we have producers inside. bill mears is inside of the courtroom waiting for that. as soon as we get it we'll relay it to you. neil: thank you very much. the dow down about 315 points. this necessarily would not be a market moving event. there had been talk the sentence meted out today, might move to pardon roger stone. that could whipsaw the markets. never know. a lot of pundits and rest, say nothing of mr. stone whose future is up in the air. we'll have the latest on that.

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amy berman-jackson said the original recommended sentencing, the original recommended sentencing from prosecutors who were looking at seven to nine years, for his, among other things, lying to congress, and much more, seemed appropriate and acceptable range. this is the same sentence much guidelines ultimately got the justice department involved, intervened up to the bill barr level, some say all the way up to the president of the united states. it became a bigger event than normally would be the case. growing talk as well, if this does not go roger stone's way the president might intervene and pardon him today. no way of knowing. this guy knows all the stuff backwards and forwards, possibilities, judge senior judicial analyst judge andrew napolitano. what do you think, judge? >> well this case is really a mess and the judge is making a number of mistakes. she has before her a very serious challenge to the integrity of the conviction, namely one of jurors, the

foreperson, herself a lawyer, had prejudged the case and revealed her antipathy to donald trump, to donald trump supporters and to stone specifically in private tweets to friends, not in any platform where the government without hacking could have found out what she said. she didn't reveal this until after the conviction. in fact she revealed it within the minutes of the resignation of the four prosecutors. so the supreme court has said in criminal cases in america, state and federal, the defendant is entitled to a jury of 12 people who are quote, indifferent as to thecome. this woman was not indifferent as to the outcome. so stone is clearly entitled to a new trial and clearly entitled to this kind of analysis by the judge before she sentences him. but perhaps outrage that the president's intervention, perhaps perceiving the president's intervention as an attempt to intimidate her, it now appears the judge is going

to sentence first and address the integrity of the trial later and sentence on the high-end of the recommendation, even though she knows that the department of justice isn't even asking for numbers that high. neil: you know, she has promised a hearing to look into the foreperson comments and all. she seems to be kind of, having hoping, i'm addressing this, hearing will take testimonydo from the foreperson, questions like, you're a lawyer. we asked you if you had any bias and prejudice you said no. why didn't you tell us about these tweets? how did you expect us to put you on a jury where you have expressed prejudgment about the defendant and his colleagues? she is going to have to answer questions like that. she will say to the federal prosecutors, the four that resigned in the courtroom, did you guys know about this and not tell us? so the hearing could be quite

inflammatory but, neil, the things she said to roger stone, blaming him for causing the controversies that are surrounded all of this almost are tipping her hand that she is not too sanguine about this motion for a new trial and she should be because her job is to assure a fair trial. she can no more have a predetermined outcome in her mind than a juror can. neil: so whatever she does and there are different reports we're getting what is going on in the courtroom. reuters, for example, is reporting that the judge just said it is unnecessary to give president trump's long-time advisor roger stone seven to nine years in prison. you can read to that it is unnecessary to limit it to that, to go to that, leaving that aside, is it your sentence the president would intervene and just pardon the guy? >> yes. if she in my view goes anywhere above what the new

recommendation is, which is 36 months, i think the president is going to intervene. he may intervene anyway. i'm concluding that from the comments the president has made publicly about roger stone. the most recent of which was to retweet what our colleague tucker carlson said last night. the president literally retweeted tucker's monologue on his show last night, calling for the pardon. neil: i get that all the time. i'm wondering though, if he were to pardon him, he tends to pardon or do commutations in bunches. could you see similar treatment to pal manafort or general flynn, what do you think? >> there is a theory that the commutations and pardons that came down two days ago was to set the table for far more controversial ones. that those would include, stone, manafort and general flynn. i think there is an indication that is what the president's thinking is. manafort is serving seven to 14

years. general flynn has not yet been sentenced. his case is in abeyance. he asked to withdraw his guilty plea, a request previously been denied but he made it again and stone is within minutes finding out what his sentence is going to be, as david pointed out, our colleague in the courtroom, roger stone will walk out of the courtroom today no matter what she sentences him to. she, the judge has said that because she wouldn't execute the sentence until she resolves this issue whether or not he had a fair trial. neil: very interesting, judge. we're waiting like you are, on that. a lot of different ways to read comments judge is making whether she is leaning very, on a higher sentence, a longer sentence or just, you know, triggering something that could be just the opposite. we just don't know. we're watching that at the courthouse in washington. also watching the reaction the day after michael bloomberg. a lot of people were saying it is a good thing he can raise his own money because he would have a difficult time after the debate performance raising it

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neil: dow down about 300 points. we're keeping on top much it, a lot of it virus related, a lot fed related. did you see the debate last night? say the las vegas chips kind of hit the fan for michael bloomberg. >> are you willing to release all of those women from those non-disclosure agreements. >> none of them accused me of doing anything other than, maybe they didn't like a joke i told. >> he didn't get a whole lot done. he had stop-and-frisk. >> i have apologized. i asked for forgiveness. >> bloomberg owns more wealth than the bottom 125 million americans. >> i'm giving it all away. >> your campaign said you would eventually release your tax records. why should democratic voters have to wait. >> i can't go to turbotax. neil: all right. that is a problem.

he really can't go to turbotax, we understand that, but the way he said it, his deem mean nor, comportment or condescending or snotty, it didn't add up. good thing he is funding his own campaign, if he had to rely on donations after a performance like that. not sew many others who put in a good night, particularly elizabeth warren and bernie sanders. they raised $3 million each. marking the best postdebate day in their campaign. hillary vaughn has more. reporter: bloomberg making his democratic debate pay-per-view paid off for other candidates on stage. senator elizabeth warren and senator bernie sanders had the biggest debate night fund-raising haul ever. senator elizabeth warren bringing in $2.8 million. sanders bringing in 2.7 million. so a chance for these candidates to finally confront bloomberg face-to-face seems to have paid off. >> a billionaire who calls women

fat broads and horse-faced lesbians. no, i'm not talking about donald trump. i'm talking about mayor bloomberg. >> i don't think you look at donald trump say we need someone richer in the white house. >> we shouldn't have to choose between one candidate who wants to burn this party down and another candidate who wants to buy this party out. reporter: both former vice president joe biden and mayor pete buttigieg are being fact checked postdebate forelying on their tax plans, saying on the stage they would not rise taxes on small businesses. that is is not true. both biden and buttigieg are for corporate tax rate increases that apply to small businesses registered as corporations too. last night bloomberg challenged sanders and warren over some of their tax plan ideas including the wealth tax. >> the best known socialists in the country happens to be a millionaire with three houses. what did i miss here? >> you missed that i work in washington -- >> that is the first problem. >> live in burlington house two.

>> that's good. >> like thousands of others vermonters i have a summer camp. forgive me. with where is your home? which tax haven is your home? >> new york city, thank you very much. i pay all my taxes. reporter: neil, americans look to see all the taxes pretty soon because bloomberg will release his tax returns in a few weeks. he says the most important number in that is not how much money he makes but how much he gives away. we'll see if the voters buy that one. neil: hillary, thank you very much. tell my kids you don't get a second chance to make a first impression. usually roll their eyes, just give me the car keys. anyway former income city mayor had ha opportunity. did blow it? did he make a bad first impression he can never recover? "wall street journal" elies can collins joins us. what do you think? >> bloomberg got on the stage after much hype. he spent over $400 million on the race so far, just since getting in november. he saw his poll numbers rise. i think candidates were started

to feel threatened by him. we see them attack him more on his record in recent weeks. when he got on stage, there was a lot of energy around him. the other candidates were ready. it seems bloomberg was not quite prepared for all of the attacks that the other candidates had. neil: i was surprised that he wasn't. this was well-testify graphed. he is one of the most astute businessman i've known throughout my career. he is not a shlub. so what happened? >> he has been preparing. bloomberg has been off the trail in recent days. his aides were aware this is sort of a new environment for him. the last time he was in a debate was a decade ago when he was rain running for mayor. neil: right. >> they were aware this is a new layout. these are totally new candidates to go against. they were preparing him, also these other candidates were telegraphing their attacks. the things they talked about on the debate stage they have been talking about.

i traveled with bernie sanders around the country and he is bringing up bloomberg and his policies. this shouldn't be a blindside. neil: do you think it will hurt him? too early to tell on polls. he has been telling polls, i don't know how many polls have been out reflective of some of the tapes that have come out. he is holding up. what now? >> you know, i really have no idea. it is too early to tell. money helps. 400 million plus dollars in states that the other candidates have not been in. so bloomberg is not competing in the first four states where the other candidates are fighting, have been fighting, iowa, new hampshire, coming up in nevada, south carolina. he has been spending all of his money and time in the next set of states that vote in march. so that has given him a leg up but we'll see this is the first-time voters across the country were really introduced to him. neil: yeah they were. one image from which they can't extract themselves. eliza, great seeing you. >>, you too. neil: the irony, eliza got into this. nevada caucuses, big nevada

debate two different see rents, michael bloomberg is not even on the ballot in the caucuses. we'll cover them, nevertheless, "cavuto live," always special of course. looking at caucuses people head to the polls on the final day of this. remember they had early voting which got suspended yesterday. actual voting of course on saturday. they're expecting a very, very big turnout. maybe after what happened in the debate last night, as i stressed, even though michael bloomberg is not on the ballot, it will get even heavier. more after this.

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neil: 40 months in prison. the first prison hand count handed down by the judge in the roger stone case. there are seven count which she will be sentencing him. the first one obstruction. and there are, one, two, three -- they each carry prison sentence time. edward lawrence has far better details than i do on that. edward? reporter: these details are coming out as we speak. the judge went through a litany of things. she spent at least 45 minutes talking about how she will do this we're looking at, as you said, 40 months in prison. that is 3.3 years roughly in prison for stone. this is following his conviction on seven counts of witness tampering, obstruction of justice and official proceedings with making false statements. he is now, he remains free on

bond relating to that hearing this 40 months for the total seven counts we're hearing from our producer bill mears inside the courtroom here today. now stone will leave the courthouse here after the sentencing hearing. there will be another hearing related to a retrial, a possible retrial because of a biased foreman. that hearing will happen sometime next week, possibly on tuesday is when the department of justice has to have their brief in on their side of that case but again, roger stone, getting sentenced to 40 months in prison. that is 3.3 years in prison for the seven counts, obstruction of justice, witness tampering as well as lying to congress. back to you, neil. neil: so what it appears like right now, going through all of this edward, he got lighter sentence in the inwith all of these sort of grouped together. a little over three years, when there was talk it could be up to nine years. you know the kerfuffle that caused, right? reporter: it was very

interesting. it was very interesting. she went through, the judge in this case, judge jackson went through talking about enhancements that applied. she saw the enhancements applied to the charges. the seven to nine years was appropriate going forward but again, as you know the department of justice ended up with a lower recommendation. this sentence is within that. so she went through, very harshly against roger stone and then comes out with now 40 months at the lower end of the range that was the department of justice recommendation. neil: i'm wondering too now, we talked a little bit about how the president was weighing in on the case, thought about it was very, very unfair to roger stone, especially kicking around a sentence that could go up to nine years. prosecutors wanted something of that heft, seven to nine years, this is half of that, less, whether the president makes any move? >> you know, it is very interesting. however he has been hinting at this. you know, he pinned to the top of his twitter account, as you mentioned the monologue from

tucker carlson saying he should pardon stone. the president is stoking the fires on this a couple days ago when he was leaving for the west coast swing that he is on. the president said he hadn't really thought about it. retweeting things about possibly pardoning tone. he loves to stoke the fire in this case. no telling what he could be doing. we're hearing the last pardons did not quite follow the total normal process. the president could decide if he wanted to on twitter to pardon stone or not pardon stone. we'll see what happens today. he is at the lower end of the range. the upper end of the range there might be speculation that there could be pardon talk at the lower end of the range. we're talking 3 1/2 years. we'll see what the president does. neil: my friend, thank you very much. we're gleaning a little bit what the judge had to say in better than two-hour wait to mete out the sentence. one of the things she had to say was a last zinger at the

president saying stone was covering up for trump. the "new york post" editorial board member kelly jane torrence. fast moving developments, kelly jane, but what do you think of this? >> fascinating to listen to the judge speaking over half an hour before giving the information we all wanted to hear. you're right, she was tough on the president. she called his tweets about the case totally inappropriate and she noted that he had even been talking about her in the case. you know i think, this sentence is still a little surprising. i thought she might go a little easier. i've been talking to judge napolitano earlier. he thought the fair sentence would be something around a year or so. but what i thought was most interesting, neil, what judge amy berman-jackson was saying, not actually what she was saying but what the prosecutors were saying. you and i talked when the andrew mccabe decision not to prosecute him went down. we both thought it seemed like the justice department was really pushing back on the

president. they seemed to do that again today. they actually noted that the original recommendation for seven to nine years had not been withdrawn. that the justice department had simply filed another recommendation. and they aid that they still stood by that. these are the new prosecutors that took over after the four left the case. and they in fact said that they still thought, for example, that roger stone should get a tougher sentence because of the texts he had sent, you know, i can't repeat exactly what he said, but it was basically a death threat, that the recipient thought were a joke and roger being roger. the prosecution said they took them very seriously and urged the judge to give him a harsher sentence. she actually agreed. that is one of the things she said in the half hour, it took the case up to a new level. pushback from the doj on

president trump and accepted by the religion -- roger stone case. neil: to quote the judge amy berman jackson and roger stone, he was not prosecuted some complain standing up for the president. he was prosecuted for covering up for the president. that is something that will not go down well in the white house. so what does the guy in the white house do? after this. is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond.

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neil: roger stone will be going to prison for 40 months. he won't be going right away. the judge in the case will hold a separate hearing whether the jury foreperson in the case did not reveal enough of her bias against roger stone. calling some to say drop the entire case. we're waiting to hear from the president as well. there had been hints and signals maybe he was seeing roger stone

getting an unfair or unusually harsh sentence he might get involved, mite start pardoning him and others. jack brewer, foundation ceo joins us right now. jack, you're close with the president. you know his thinking. the judge in this case, i want to hit you with all the latest developments here had said pretty harsh things about the president, that stone covered up for the president. that normally invites donald trump response. at least a tweet response. what do you think he is going to do? >> i think he will hold back on this one. he had a little clash with ag barr but president trump is a fair guy and i think that is what he is trying to seek is fairness. you see the other side from mccabe and comey and all the other ones that have, done so many different things where there is lying to congress or kind of misfabricating information but they're not getting as harsh of penalties. that is what it comes down to for the president. neil: i think you're right. he indicated that. another thing he indicated, jack, when the first penalties

were kicked around and prosecutors left felt because they were strong-armed by the heads of the justice department saying nothing of the president, seven to nine years was too much for roger stone, so you got it a sentence like this, three years, three months, do you think that the president would feel then that he is won, that influenced a reduction in a sentence that might not have taken place had he not? >> you know what? i think down deep inside, these are the rare moments where he knows that the president as the chief executive of the country, that he has to ten in, asomething. you know, i think for the president it goes back again to fairness. i think down deep inside, you know, he should smile a little bit and know that he is trying to bring real justice. you saw he just now pardoned so many different americans of all shapes, sizes and colors a couple days ago. unfortunately the liberal media didn't show all of that. i had a good friend of mine who

called, jack, i only see white guys on the screen about being pardoned, what happened to the african-american women let off of their cases as well? you know the media just didn't show that. i think that message something unfortunate. i'm glad the president is stepping up. neil: how would you feel if he pardoned roger stone? >> you know what? i wouldn't be mad at him. you know, after all the back and forth, how, right now in our justice system one side of the aisle gets to do whatever they want and the other side, you know, is being, having their lives ruined. so i wouldn't be upset with the president for doing that. neil: jack, thank you very much. sorry to throw all the breaking news at you. you're so good at it. i have no doubt that you would. thank you very much. i appreciate it. >> thank you, i teach in prisons every week. i'm very familiar with it. neil: thank you very, very much. ken feinberg, he doesn't get involved in pardons but he does involve himself in on historic

settlements and dispenses the cash. the latest is trying to help out boeing dispense some of its cash for some crash victims and community causes. he is next. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.

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neil: boeing pledged $100 million to support families for those families that were affected by the 737 max crashing crashes that killed08 people. ken feinberg is here to distribute all that, part of the 100 million when all said and done. mr. feinberg is involved in many, many such cases. famous for 9/11 and many since. he joins us now. ken, good to see you. thank you for your time.

>> glad to be on again, neil, thanks. neil: how will this work and clarify what your role will be here because it goes beyond crashes and victims here. it is about community acts and restoration programs. could you explain that? >> that's right. my colleague and i camille biros who already distributed the first 50 million to the individual families. neil: that was each per person? >> $144,500 distributed to each of the 346 families. now boeing has come to us again and said, camille, ken, we want you to take the other 50 million and fund local community projects, local community programs, programs that are of interest to the families around the world and distribute those funds in the next few local levd that is what we'll bin doing

right now. neil: how do you know which is more effective, which has the biggest impact at the community level? >> ah, there is the rub, there's the challenge. first locating the right projects, the right programs. second, even if you have a program that that appears to be a good one, how do we know that the money will be wisely spent? how will we know it will have a real impact on an orphanage, on education programs, water treatment, food for the hungry? these are not only locating the programs in africa, asia, elsewhere, but making a determination, independently, kmele and i have the responsibility, that the money will be protected, it will be used for those purposes. it will not be wasted and it is going to be a challenge, no question. neil: how do you discern, i mean i think in the ethiopian crash

we had a number of united nations employees victims and they had their own causes. they were in charge of their own projects. how does that come into the mix? >> oh, you're asking a very good question. there is a ethiopian family association. there is a french, european association of families. there is a very effective united states association ever families who lost loved ones. reaching out to them, reaching out to the families themselves frankly asking the government in these countries what might be a good opportunity or a good program. we want to make sure that the families are heard on this because the families have projects and programs that they think will best memorial eyes the memory of the lost loved ones. we want to try and accommodate them if we can with programs

that will be safe and secure. neil: so, ken, the families who settle or funds were dispersed for victims of the plane crashes, is there separate litigation or suits pending from those same families for more? >> great question. this 100 million that boeing put up has nothing whatsoever to do with litigation against boeing. it is not like 9/11, neil, you remember, a 9/11 family in order to receive the money we offered them had to sign a release. i will not litigate against the world trade center. i will not litigate against united airlines or continental airlines or -- neil: there is none of that here? >> none of that. neil: that can continue? >> this boeing's attempt through independent evaluation by camille and myself to reach out to the families to try to do

something constructive, something that will improve not only the family's financial situation but the local community. and boeing deserves some credit for that i think. neil: let me ask you about, in other funds that you oversaw, whether it was the 9/11 victim compensation fund or the boston victim relief fund after the boston marathon attacks and bp oil spill, the gulf coast claims facility, and all of that, how were funds distributed? because you took a different approach after 9/11, not to equally distribute the funds but base them on the money lost for the families. an executive versus a fireman will be disparity in compensation. that was the case of disparity in rewards afterwards. >> that's right. neil: how has that been handled since? >> you to look at the program, 9/11, i was on with you, bp, general motors ignition switches, i was on your program. neil: right.

>> all of those programs were an alternative to litigation. so the stockbroker the banker, lawyer, accountant, they received more money than the waiter, the busboy, the soldier, cop, fireman. they earn more just like the legal system. boston marathon, boeing. the virginia tech shootings, the pulse nightclub shootings in orlando, florida, the terrorist attacks, those programs you could take that money as a gift. there was no requirement that you release your right to litigate. you could take that money to hire a lawyer if you wanted to. neil: all right. >> so boeing is very different from 9/11. the boeing company says to the individual families, and as to local community projects, there has nothing to do with litigation. you don't have to to sign a document. we have want to try with independent experts distribute the fund. neil: understood. thank you, my friend, very, very

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u.s. money reserve is one of the most dependable gold distributors in america. neil: all right. the market sell-off continues. not quite as bad as it was but a few eye-popping developments that surprised some folks. not the least of which, the fed vice chairman saying it's not a given we keep cutting rates. that was even before the market opened in an interview on cnbc. then there was this other development with the coronavirus, it's turning into a pandemic, there's worry that deaths are expanding beyond china. south korea, iran, you heard the deal. the markets reacting to this, gold moving higher to better than saa seven-year high. the ten-year, the lowest we have

seen since september. a lot of folks are sort of selling or getting crazy first, then justifying their actions later. we still have about three hours of trading day to go. with all this stuff, we understand roger stone stands to go to prison for a little more than three years, 40 months in total. there was talk it could go up to nine years. you know the hoopla that created. the judge in this case saying 40 months should cover it. she let him out on bond right now because she's taking up the separate issue about jury fairness. we will get into that later here. but he's free until that's settled. some say it could be settled with a presidential pardon. we don't know, but we do know at the white house, expect the unexpected. i think i summed up the world as it stands at the top of the hour. kathy arou is with us with bill mcgern and danny hughes. on the markets first and this

knee-jerk corona reaction, we talked about it before, everything trades on china, whether it was trade with china, up when it looked promising, down when it didn't. now we move it over to the virus, up when it looks promising, down on a day like today when it wasn't. what do you think? >> it's minute by minute, really. it's news flash by news flash which is unusual. i think that just reflects the society we are in right now. but anything out of the fed, anything out of china, anything out of trade, those things are really going to affect the market. we saw that this afternoon when the market tumbled at least 250 points just on a couple of people -- not people, the virus and also the fed coming out and saying they're not going to cut rates. neil: do you buy that? there had been hope that later in the year, if things slowed down, i think jerome powell indicated as much or signaled. do you think that doesn't happen now? >> i think everything's on the table. i think it always has to be. the fed has had their foot on the gas pedal at all-time highs

which is highly unusual. we are in a new world. it remains to be seen, we've got the election coming up. there are so many things on the table and of course, the coronavirus which at every moment changes the dynamic of the entire world economy. neil: well put. bill, if i could go to the roger stone case. not necessarily as a market-moving development but what if the president were to pardon him, what if the president were to pardon manafort, general flynn, what do they do, roger stone now coming out of the courthouse. let's see if he talks to reporters. [ shouting ] [ chants of "lock him up" ] neil: you mig came up there. i really interrupted bill. he was not expected to say anything but you never know. the reason why i mention the

pardon or commutation is that the president is of the mindset to do that. i'm wondering would that unsettle markets if all of a sudden we added like, you know, a pardon-orama? >> it might have a political cost but remember the pardon is there not just for people who are innocent, but sometimes for people who are guilty but you think the punishment is excessive or there are other circumstances that warrant it. neil: 39 months here. >> i think a lot of people owe bill barr an apology. when he came out and said the original guidelines were too strict which is true, nine years is ridiculous for this, the judge who is no trump lackey basically ruled within what barr had recommended. much ado about nothing. >> i say one other thing. i think roger stone did everything he was accused of and prosecuted for. but i don't think he should have been prosecuted for this. i think there is a giant

question looming over the country now of fairness. on the one side, you have roger stone, paul manafort, george papadopolous, general flynn, and they get prosecuted. on the other side, you get all these immunity deals with hillary -- people see that. i'm not criminalizing the political process but it does seem to work one way. neil: politically, any fallout? one way or the other? >> from roger stone? well, everyone thought it was going to be eight years, nine years. now it's three years. neil: you think candidates pounce on it? >> they will pounce on it. of course. it's a political year. election year. of course they are going to pounce on it. news flash. [ speaking simultaneously ] neil: michael bloomberg, what did you think? >> well, he didn't have to be there. why the heck did he do it. at the end of the day, he said he believes in capitalism, right. that's what all the americans want to hear. they don't want to hear

socialism, communism. so he was the winner if he's saying he believes in capitalism because everyone loves capitalism. trump supporters love capitalism. neil: i thought he was a disaster. you didn't think he was a disaster? >> well, no, he was not a disaster. just let him just be quiet and run things like he ran new york, we will all be okay. we will be okay. neil: he has to talk eventually. >> no, he doesn't. no, he doesn't. [ speaking simultaneously ] >> he just doesn't have to talk. neil: i understand. >> yeah. yeah. neil: i just looked at it and thought he has the best consultants money can buy, more than enough money to have the best help and i'm thinking like did anyone prepare you for this? >> what happened? weren't they sitting across from you and saying okay, what are you going to say to this? i don't know. i do think that was a missed opportunity for him. but i do think -- neil: people were afraid to challenge him. what do you think, boss? >> i do think he's probably the biggest contender if he were to

be the democratic candidate versus trump. neil: is that less likely now? it's very early in the process. >> it's very early in the process. it's supposed to be 12 debates. i think we have three more left. again, anything goes. but what we did see highlighted were really the dichotomies that we're facing as a nation right now. capitalism and -- versus democracy, almost. we are seeing do we agree that the american dream is all about how much money you can make or is the american dream -- neil: well, he was the only one supporting it. >> yeah, but i would say he did a very weak -- i was looking for him to restore some common sense and so forth. first off, he had no answer on the non-disclosure agreement. you knew you would get mowed down on that. he couldn't defend himself on stop-and-frisk because he's already apologized for it. where he was -- i think what he should have done is he came out, he said yes, i made my billions

because the essence of capitalism is you don't get rich unless you make a product that people are willing to buy at the price that you set. all these guys are always saying, i'm the only one on this stage that did this and met with the mexican president. he should have said i'm the only one on this stage that created a lot of jobs and i know how to do it. like really crazy, not just jobs happened under my watch as mayor, but i started a company. that's a hard thing to do. i think we have not heard a single positive word about the private sector on the democratic stage until bloomberg spoke last night. >> bloomberg won last night. neil: we'll see what happens on that front. we are looking also as a proxy on what happened last night, donations to come in now. good thing for michael bloomberg that you don't need outside support because he would have probably a little trouble finding it today, but again, the candidates who are getting the money, two stand out. it's a lot of money. we will spell it out. a reminder, the nevada caucuses,

we are covering them live on my weekend show saturday, 10:00 a.m. eastern time. we will even provide the breakfast buffet. more after this. you met on an app. delete it. why? he's the one. awww. gesundheit. i see something else... a star... with three points. you're in a... mercedes. yeah, we wish. wish granted. with four models starting under 37 thousand, there could be a mercedes-benz in your near future.

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and if you call us today, you'll only pay $149-an over 50% savings. read it again, papa? sure. i've got plenty of time. life line screening. the power of prevention. call now to learn more. neil: all right. you know how you can tell it was a good night for some of the other candidates, not necessarily named michael bloomberg? bernie sanders and elizabeth warren in the hours after their debate performance taking in almost $3 million each. that's money they could obviously use. of course, it doesn't compare to the billions at hand for michael bloomberg. let's get the read from kathy, bill and dani. bill, that's not too bad a haul for those candidates. so it gives them a little bit of

pocket change going into obviously the caucuses and the campaigning ahead of them on saturday, then south carolina super tuesday. elizabeth warren needed that certainly more than sanders but sanders, small doe nominations, he's doing well. >> yeah, it's kind of the flipside to bloomberg. we have been very much against the citizens united backlash thinking money can be speech, right? and bloomberg would not be moving in the polls unless he were saying something that resounded with people. tom steyer spent tens of millions and didn't go anywhere. so it's interesting, compare that to bernie. i think what you want if you are a party and you want people running, you want to draw from as many possibilities, have as many different kind of competitors and bernie's pretty remarkable. he's raising substantial amounts of money in small donations. if i were running a party i would want to be open to all comers to find the best

candidate. neil: going back to bloomberg and all this, i'm wondering whether it's not just a billionaire thing. if you think about it, some of the party's greatest stalwarts have been john f. kennedy and franklin roosevelt, among the richest ever in that office, and at the time, among the richest families campaigning for that office but they didn't have the sort of grey poupon stigma bloomberg did. >> well, he ran new york so anybody who runs new york, you get a stink on you, unfortunately. this is a great city, full of all of america, but he did it very, very well. neil: i just wonder, they somehow appeal to the common man and woman -- >> why doesn't he. neil: why doesn't he. >> there's a couple reasons. he started a company called bloomberg which is giant. you have to have a bloomberg machine if you are a trading firm or any kind of broker dealer. but it's extremely expensive and you are tied to the umbilical

cord. there's an amount of resentment that pervades wall street and maybe some other areas. the ubiquity of having that necessity. neil: i appem noticing some of successful presidents, ronald reagan, he wasn't billionaire rich, yet this guy initially appealed to the upper class for big tax cuts, won back-to-back landslides appealing to everybody. what lessons can we learn from that? to help -- >> from being rich? well, trump who is in office right now, is supposed to be very, very rich with the gold this and that -- neil: trump pulls it off. >> he pulls it off. he's that nascar driver in the beast and everyone can relate to him. bloomberg, this is his first debate. give him a break. these are all gladiators who have been in the ring for such a long time. he wasn't supposed to be in this

debate. he should have sat it out. he's not ready to be the gladiator in this setting. some more time, by the 30th debate he will be fabulous. he has to define himself right now and he doesn't have the right definition. but everyone else has had eight other debates to define themselves. you just walk in there thinking -- neil: you have to be comfortable in your own skin. i always felt when mitt romney was campaigning he was uncomfortable. >> right. i think there is also a snobbery. you mentioned fdr and jfk. the press likes people who inherit their wealth or marry into it like john. when you actually make it, you are sometimes treated like you are a grubby little business guy. neil: that's very, very interesting. >> famously, joseph kennedy said jack, i will pay for victory but not a landslide. he was watching his pennies. i think there is that. i was hoping michael bloomberg would take that on. i think we should honor people who have a successful business, have done it honestly. they are just offering their

services. his was wildly popular because he knew the people he was selling to and he fulfilled a need. that's why he made so much money. neil: i think what's changed is we look at wealth differently today. this party right now, it's suspicious of those with money. i don't know, this party could even nominate a john kennedy or fdr today. >> or somebody who comes from the scrappiness. we do see some scrappy people that have been at the podium but i don't know if they appeal in the same way of a grassroots kind of connotes something we don't want. >> bernie and elizabeth warren have said let's not trust him, he's a billionaire, look how he made it. they defined it in the first -- we knew he was going to be a threat because they have been worrying about him this whole entire time. the minute he stepped onstage he was defined by others. he didn't define himself. neil: they would have made it very difficult for jfk and fdr.

i think there would have been suspicion about the money, whether inherited -- >> i'm not so sure. when you inherit it, you are living off your dividends and so forth. businessmen making bad decisions, the way mitt romney accused of causing cancer in some woman and what's interesti interesting, like bloomberg, mitt romney didn't defend himself. sort of implicitly accepted the argument. i think there's still time. i think mike bloomberg should have iingo vigorously defend his business record. neil: or just say -- [ speaking simultaneously ] neil: i'm a very serious guy, i'm not a great debater. just embrace it. live it. >> amen. preaching to the choir. neil: sorry, ladies, this is it. all right. meanwhile, the world communities are looking to reap the benefits from 5g.

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neil: all right. we are learning more about that massive data breach at mgn resorts. susan li now taking sort of picking apart what happened. susan? susan: you see the celebrities, yes, justin bieber, some of the names that stayed at mgm resorts. over six millions dpefguests ha had their data exposed. mgm says this was not financial data, they are confident no financial payment card or password data was involved. what was exposed and what was found on some forums that had this data, phone numbers, full names, home addresses, e-mails, dates of birth. a lot of famous people of course have been to vegas, 42 million people visit the city each and every year, the second most visited city in america, and that does include a lot of famous people. celebrities including justin bieber, jack dorsey allegedly

had their addresses and some of their personal data posted on some of these forums, also tsa, dhs government officials and a lot of journalists stay at the mgm resorts as well. this is the most recent corporate hack. as we know, there have been multiple and it seems like every year we report new ones. for instance, marriott had 500 million guests' information stolen back in 2018. equifax, under 43 million, still paying out restitution for that hack. that happened in 2017. remember yahoo! had three billion of its users and the data exposed back in 2013. those are just the big ones because it seems like each and every year, we tell you about new ones that come up with food delivery and anything really that you put on the internet. so the experts say in this case, you just have to be careful, change your password and make sure that you're not putting data into suspicious websites. neil: wise advice. thank you. so forget a faster phone connection. could 5g technology fast-track a

new way to actually do business? fox news headlines 24/7 anchor brett larson on that. what do you think? >> everything changes with 5g. whenever it gets here. when we think about 5g, we think about streaming 4k video, virtual reality, everywhere we go. but it is virtually going to change everything we do in the world of business. 5g or the fifth generation of wireless the country and it's also an issue of national competitiveness. 5g will bring high speed internet connections to driverless cars, internet of things devices, even connect physicians with patients in rural areas. that could be a game changer and some of the early applications we're already seeing involve things like diabetic patients being able to be sensed remotely so if their vital signs go south, somebody could intervene quicker. and helping ensure remote communities get access to 5g, the fcc is using a strategy

called the 5g fast plan, which stands for facilitate america's superiority in 5g technology. >> i proposed a $9 billion 5g fund to make sure that all parts of this country are covered with this next generation of wireless connectivity. reporter: just like smartphones brought us the app store, 5g will bring us an unknown number of new ideas and technology solutions. >> we can't predict exactly how it's going to transform but we do know that every single industry is going to rely on 5g to some extent or the other and we want that innovation and investment to happen here on our shores. >> that was, speaking of on our shores, we asked the chairman about the huawei situation, how the white house has said no, no huawei infrastructure anywhere or none of their equipment in our u.s. infrastructure. the fcc stands by that 100%. it's interesting when you think about wireless technology, we think about, obviously when we think wireless technology we think cell phones but there are other things, driverless cars. the rural broadband stuff is

very interesting because there are still a lot of underserved communities in the u.s. that there's no business case to spend the money to bring fiber optic cable into a community where maybe there's 100 people living in 100 square miles. that would be really hard to wire that manually. but with 5g service, you can wirelessly beam high speed internet to them from a tower in a central location. whenever we get it. i think we are two years away from a total blanket of 5g. we will have it in pockets. we have it now in some places. but total coast-to-coast coverage -- neil: thank you, brett. brett larson follows this incredibly well. by the way, this back-and-forth between michael bloomberg and the president continues. you might have heard the president tweet early on i don't think there's any chance whatsoever senator sanders defeating president donald trump. mini mike bloomberg, even less chance, especially after watching your debate performance last night.

bloomberg responding shouldn't you be pardoning roger stone you carnival barking clown. somewhere george washington is rolling in his grave. more after this. every year, our analysts visit thousands of companies, in a multitude of countries, where we get to know the people that drive a company's growth and gain new perspectives. that's why we go beyond the numbers. t. rowe price. invest with confidence. that's why we go beyond the numbers. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose.

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neil: president trump's economic team releasing its annual economic report today. these reports sometimes aren't worth what's written there in pencil. having said that, though, there are some findings here. blake burman has been looking at

it. blake. reporter: this is the annual report written by the president's top economic advisers called the economic report of the president. no surprise here in this case, part of what the president's team is trying to do is looking at the gains as they see it over the last three years, compared to the gains that were made during the obama economy. let me hit on some examples that they are trying to highlight in this report. for example, they say there are more manufacturing jobs in the trump economy than the obama economy. they say there are greater rates when it comes to labor force participation and the bottom half of earners have seen their wages rise more. the report authored by the cea chair thomas philipson. >> the bottom half has really gained an enormous amount of wealth under the trump economy and that wealth, if you want to benchmark it, is about $ .6 trillion, larger than all the three biggest anti-poverty programs we have. it's really been a boom to the

lower end of the distribution. reporter: this report is some 400 pages long. even more than that. when you look through it, there isn't anything in there touting the trillion dollar deficits year over year that the trump administration is racking up and has no worries doing so. overseas, the chief of staff to the president, mick mulvaney, he's been over there the last couple days. "the washington post" has a report out this morning saying mulvaney was giving a private speech and this is what he said in part. essentially saying that republicans are looking the other way on debts and deficits. quote, my party is very interested in deficits when there is a democrat in the white house. the worst thing in the whole world is deficits, when barack obama was the president. then donald trump became president and we're a lot less interested as a party. that from the chief of staff according to "the washington post." now, i asked the cea chair whether or not this republican administration is being hypocritical on debt and deficits as suggested by the

chief of staff. philipson told me earlier today quote, fiscal policy is voted on by congress. so in part, they are trying to shift the blame up to capitol hill. part of the argument that they are also making is that they say the tax cuts pay for themselves but as you know, when you look at the tax cuts, military spending, as they also like to point to, that is just a portion of the trillion dollar deficits that this white house is embracing and projecting. neil? neil: the president comes up with the deficit, i'm wondering is mulvaney packing his bags now, do we know? reporter: you know, it was interesting, this was in "the washington post." they say they obtained a tape recording and in that, the "post wt "says mulvaney was talking about how the job on average is about 18 months. i think he's been here 16 months. he was sort of laying the ground of if his time eventually comes, this is kind of the average point of it, though not to say we have any reporting saying

that that's happening any time soon. neil: he did, in other words, lump in republicans with that, right? reporter: yeah. he acknowledged there's some sort of timetable here. this is what the president's third chief of staff in three years. neil: thank you very, very much. reaction from our panel. kathy, bill, dani. he's made it obvious how many times over the years we talked about deficits and debt piling up under republican and democrat presidents alike. here's the chief of staff saying it's out of control, it's on all of us. >> right. it's evil when there's a democrat at the head and when there's a republican at the head, we're not even going to talk about it. it's not going to be in the state of the union. it's not a big deal. it's different this time. and it's a real big problem. when we are seeing it, it trickles down also so people are spending more, they are borrowing more because rates are at all-time lows --

neil: thank god for that. >> they are being told borrow against your house and put it in the stock market. that's what people are being told. this is bad advice, by the way. neil: it all plays into politics but you see democrats bemoaning the deficits now, republicans said the same thing when democrats were in charge. each side points the finger but bottom line, debt goes up, up, up, up. >> president trump is being a little disingenuous when he says it's congress. the president sets part of the agenda by making it, you know, using the bully pulpit. i think he was right to prioritize growth. you and i both live in the peoples republic of new jersey-stan and you can see -- neil: we are the only ones left. >> you are not going to get the spending brought under control by not having growth. growth is a big component. the problem is there's not a lot of reward for congressmen that want to cut. neil: absolutely. >> i would say this.

both sides are to blame. there is no one in the democratic party calling for spending restraint. you look at the proposals last night, i mean, they were criticizing bernie for whatever, $50 trillion in new spending, and even the moderate ones have huge increases. the only place where it is is among the republican party and they have been a minority in congress since -- neil: i think you're right. we have learned the paul ryan experience, you know, back years ago when he was pushing [ inaudible ] for trying to rein in the growth of medicare, medicaid, social security, more medicare, i should say, there's no reward for a politician who even wants to get near that third rail. >> it's amazing we are talking about the debt, but no one's talked about it for a long time. for a couple of months. neil: it's not on anyone's top ten issue. >> it's a $3 trillion debt in this country and no one mentioned it. so we have a great economy but

then we have this big debt but it's so cheap so are you going to buy a car, are you going to lease a car. neil: the government, whether under barack obama then, donald trump now, do you think either part gets serious about it? >> well, it's cheaper now. it's easier to have debt right now. we are actually making money off of our debt. we could just pay off our debt with more debt. it's this cycle now. there's no way out of this situation. neil: i have no idea what you just said. totally agree. all right. there's a republican mayor right now saying no to amazon. yo alexandria ocasio-cortez. it's spreading. but the reasons here are a tad different. i will explain after this. you've been hearing a lot about 5g. but there's 5g... and then there's verizon 5g. we're building the most powerful 5g experience for america. it's more than 10x faster than some other 5g networks. and it's rolling out in cities across the country so people can experience speeds that ultra wideband can deliver. 1.7 gigs here in houston. 1.8 gigs here in frigid omaha.

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grady trimble here to tell us why. reporter: about 75,000 people live in this chicago suburb but the mayor here is taking on a company with more than 750,000 employees. he says he doesn't want a fulfillment center at this site for a few reasons. number one, he says the village just can't handle the traffic. number two, he says the building itself would be unsightly. number three, he says 1500 workers making $15 an hour, well, he says that's just not a living wage even though it's well above the federal minimum wage, and higher than any state minimum wage. while many cities and towns across the country would bend over backwards to try to get amazon to come into their town, many have, he says he agrees with representative alexandria ocasio-cortez even though he's a pro-trump, pro-business mayor. listen. >> i watched him and wondered why. we want a diverse set of jobs throughout our community, where

people of all income levels, all kinds of jobs and salaries and so forth so they can shop in our great retail situations, eat in our restaurants. $30,000 a year job, 1500 of them, don't allow a lot of discretionary money for that kind of spending. reporter: of course, proponents of this type of development say it would expand the village's tax base and it would also attract other businesses. we reached out to amazon but so far, we haven't heard back from them. at least in this case, neil, this village and this mayor might have the final say because this property would have to be rezoned to allow for a fulfillment center. neil? neil: thank you, my friend. amazon's stock having very little to do with this development, down about $25 to $2144 a share. michael bloomberg says he cannot use turbo tax for his tax returns. he's actually right about that. there's an income limit. so who can? ♪ limu emu & doug

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some of the most bullish people i know have been hoping for a real pullback. right now, it's down 0.69%. it just ain't a real pullback. even that friday when the dow was off 600 points, i think we were off 3.7% for the year, and you've got two competing areas of anxiety. the folks who missed this rally and continue to miss it, and those who are worried that, you know, it may pull back or may have a real pullback and that pendulum swings back and forth. the first thing i did with all these different conflicting headlines and speculation, i listened to the world health organization press conference, because that's the only way for me to navigate these markets, beca reporting, there's a lot of anxiety and a lot of natural fear. we are coming off again, all-time highs. you made that point. at some point we are going to have -- here's the thing. i don't like using coronavirus fears, we are down half of 1%. if the fear really emerges, the

word fear really emerges, brace yourself for a 2,000 point down day on the dow. i'm not saying that's out of the realm of possibility. i try to keep my head about me and try to dig a little deeper to see what's nudging the anxiety, what's moving this pendulum. neil: you know where it gets dicey for a lot of folks, they have been fortunate to, you know, drive up with the market, say originally at 10,000, all of a sudden now it's worth 100,000, a 10% hit or 20% bear market hit, that's a big difference on 10,000 bucks versus 100,000 or more bucks. so it changes the worry level a lot for people who want to keep those gains. what do you think? charles: it does. it's a tough game because they were smart enough to hold throughout a whole bunch of periods of anxiety over the last few years. constitutional crisis, we dealt with talk of recession on more than one occasion, the trade war stuff. there were so many opportunities to get out of this market. so people who didn't feel like

man, i did okay. but they are anxious. guess what, throughout history we have hit peaks and pulled back. some pullback is inevitable. we do deal with that anxiety because the psychology, you know, if we lost a buck, a dollar, and we made a dollar, we would feel twice as b investing and the psychology of human beings. we are definitely at a real sensitive point for this market where we need obvious catalysts to take us higher from here, or every day we are sort of like hey, i have been smart, i have been great, but, and it's easy. it's easy to sort of nudge that and trigger some selling in this market. neil: looking at these comments from the fed vice chair, kind of saying i think, look, i know a lot of people are counting or pricing in a rate cut, i'm getting this, i want to make sure i get the big picture view, he was more or less saying it's not a guarantee. that wasn't news to me.

i didn't see why that would be so jarring. he hasn't said anything that most people were thinking yeah, there's a backstop where the fed could potentially cut rates later in the year, but it's not a given. why did the market react not just solely to that, but why would people freak out over that? charles: there's a lot of different ways of tracking, you know, what wall street thinks and for instance, the cme fed tracker is one. it's been indicating two rate cuts this year. so you know, wall street, they bank on that stuff. many people, we talked about that anxiety and what keeps you in this market. that's one of the things that keeps you in this market and if you think maybe that goes away, also, he's the vice chair, he's very influential and he's considered a centrist. so if this was a bear or hawk, you would take that differently but he's a centrist. his word matters as much as anyone else outside of jerome powell. neil: all right, thank you, my friend. look forward to seeing you in about nine minutes. in the meantime, michael bloomberg is facing a lot more

criticism over releasing his tax returns. take a look. >> your campaign has said that you would eventually release your tax records. >> yes. >> when it comes to transparency but people are already voting now. why should democratic voters have to wait? >> it just takes us a long time. unfortunately or fortunately -- >> can i comment on that? >> fortunately, i make a lot of money and we do business all around the world, and we are preparing it -- the number of pages will probably be thousands of pages. i can't go to turbo tax. neil: all right. to many it struck them as condescending but the fact of the matter is, there is a limit to the number of people and the income they can claim to continue to use turbo tax. let's say if you have operations all over the world and it's in the tens of billions of dollars, you cannot. maybe it's just the way it's presented that ticked off people. to accountant and tax free wealth author, tom wheelrite. he's right on what he said but the manner in which he said it didn't come off right. what do you think?

>> well, obviously, turbo tax is great for amy klobuchars of the world who have a w-2 and 1099 and a couple other things like that, but mike bloomberg's taxes, i'm sure he has a whole team of cpas that does nothing but his taxes all year. neil: i believe turbo tax stops at $10 million. if you have more, you can't use it. he's worth considerably more than that. having said that, he kind of stumbled on his pitch for capitalism, where the second half of the debate, he was making a little bit more sense. i'm wondering if that fell on deaf ears to the crowd listening, that they have already said anyone who is, you know, capitalism, our system of government the way it is, it's not flying. what did you make of that? >> well, you know, here's the thing. it seems like today, we are in a place where making money and capitalism isn't a good thing.

you know the tax law is meant for capitalism. the way the tax law is built is for capitalism and it is complex, but it's built so that people can create more employment and they can create more jobs and more real estate and goose the economy. neil: i'm probably giving away my age here, but there was a time where being a wealthy capitalist wasn't such a negative. obviously john kennedy carried it off, ronald reagan wasn't a billionaire, of course, but a multi-millionaire, he was able to carry it off. obviously donald trump carried it off four years ago. appealing to the common man even though he was anyone but. why is that? >> well, it's this whole move towards socialism that we're seeing, you know, from bernie sanders to liz warren and this whole idea that it's somehow bad to be successful. and that's why all the democrats

are proposing these huge tax hikes, it's because they want -- they say look, it's immoral, right, immoral to be successful. neil: so if it's immoral to be successful and michael bloomberg's living proof of the american dream succeeding, whether he comes across effectively in a debate or not, i think last night he did not, is he doomed? is the candidate arguing in that party for the virtues of capitalism, even wanting in his case to hike taxes on the well-to-do like himself, what's going to happen? >> i think he's got a real uphill battle because the party has gone, has moved left and he's saying he's a centrist, he's saying he can beat donald trump, but the reality is a lot of people and america still believes in capitalism, they still believe that successful people should be rewarded and i think he's got a tough road to hoe with the democratic party for sure. neil: it's a different view of

the country but certainly in that party for the time being. we'll see what happens. tom, thank you very much. i appreciate it. >> thank you. neil: all right. we have the dow down a little more than 200 points here. a lot of that money as i have been telling you going into gold, which is in and out of seven-year highs and into treasuries, where the yield is on track to settle the lowest it's been since september. around 1.52%. stay with us. you are watching fox business. i'm your 70lb st. bernard puppy, and my lack of impulse control, is about to become your problem. ahh no, come on. i saw you eating poop earlier. my focus is on the road, and that's saving me cash with drivewise. the business of hard work... ...hustle... ...and high fives. modernized comfort inn's and suites have been refreshed because our business is you. . . (announcer) carvana's had a lot of firsts.

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♪. neil: well, if you got it spend it. we knew that michael bloomberg was rich and we knew he was spending a lot of money on the campaign. we just didn't have any idea he was spending this much on the campaign. this is from his fec report right you no, the latest showing since he launched his presidential quest he has forked over better than $463 million. now of course a lot of that is leaving out some further

commitments to come for super tuesday in less than two weeks when you're going to have better than 1300 delegates at stake. to say nothing the remaining part of the race where you have 20 other primaries and caucuses comprising another 2,000 delegates at stake. you can imagine the spending spree he will be on. whether that will be affected by the performance at last night's debate of course he doesn't depend on anyone else's money but his own. whether that would dry up personal funding from others he doesn't need it. he doesn't have to have it. other candidates do need it, do get it, have a good debate performance like elizabeth warren and bernie sanders, each of them since their debate last night got an additional close top $3 million each in funds, just for a good debate performance. if you do well, you do very well, very well. i leave you with the dow down

207 points. no reaction yet from the president on roger stone, his chief confidante, who likely headed to prison for upwards up to 40 months but you never know what the president can do on that. a lot less than he thought he would be serving. to charles payne now. charles: neil, thank you very much, once again. good afternoon, everyone, i'm charles payne. this is "making money" t was a debate night takedown. >> talk about who we're running against, a billionaire who calls women fat broads and horsefaced lesbians. i'm talking about mayor bloomberg. charles: bloomberg trying to pick up the pieces after what president trump called the worst debate performance ever. we'll get react hundred from the other billionaire in the race tom steyer in five minutes. stocks falling despite a monster manufacturing report. more good news for president trump but investors are on edge. i will highlight companies once written off at that took huge gambles. they are paying off, work the look for