stuart: okay. how many living u.s. veterans are there? susan? >> 11. 19 million. 19 million. ash wily? let's go high, 3 million. stuart: i'm going with 23 million. okay, the real answer, 19 million. >> yeah, ed warred. stuart: first appearance in new york, he gets it right. high-fiving everybody all around. that's great. thanks, everybody, for a great week. susan, lauren -- [laughter] >> ashley. stuart: i got it. edward, you are all right, and that's a fact. >> thanks for having me. stuart: cheryl casone, it is yours. cheryl: thank you so much, sir. welcome to "cavuto coast to coast." i'm cheryl casone in for neil on this veterans day.

stocks are mixed right now a day after markets i saw their biggest gains in more than two years. we are going to dig into whether the markets can hand on to the green as big tech hands out thousands of pink slips. crucial states count votes. we have former georgia senator kelly leffler on what the gop needs to do to win the runoff in the peach state. we also have vivek ramaswamy on elon musk's foreign ties, and elaine parker on a judge blocking bidessen's student debt cancellation. and marcus molinaro. there is a lot to get to in the next two hours. let's get to it. we begin with the senate race in nevada where ballots are still being counted. the latest tally is showing adam laxalt's lead is beginning to shrink. fox news chief correspondent

jonathan hunt live in las vegas. jonathan. >> reporter: good morning from vegas, cheryl, and the counting does indeed continue here. it is slow, it is methodical, it is being done, according to election officials here, by the letter of the are election laws. it is frustrating for a lot of people, nobody more so than the two senate candidates themselves as they wait for this, for all the ballots to be counted. one of the reasons for the slowness here is mail-in ballots. they can be postmarked up to and including election day itself, and they have until tomorrow to get here and still is have to be legally counted. so the indications are that we will have a good idea by the latest tomorrow night as to which way this race is going. but the clark county registrar here -- remember, clark county is where 75% of nevada if's population lives -- says there is no way to make in any

quicker. listen here. >> i can tell you with a great deal of confidence that everything that we're doing here in clark county is moving those ballots through as quickly as we can. but i have to caution you in saying we don't want to move too fast. we want to make sure that we're being accurate in validating the signatures and the identity of folks. >> reporter: now, as for how the race stands right now, democratic incumbent senator cath catherine cortez masto less than 1 point behind her republican challenger, adam a laxalt but, obviously, you'd prefer to be ahead rather than behind, and laxalt believes he will pull out a victory. listen here. >> in clark county we did so much to make sure this was a secure election. we had lawyers everywhere, we we had election observers. >> reporter: interesting to hear laxalt there talking about having observers and lawyers everywhere. remember, cheryl, he was the

leading republican voice in making allegations of widespread fraud on behalf of president trump a after the 2020 election. he said there they had observers here this time, they had lawyers everywhere. he did not make any allegations of fraud this time. that may be significant, cheryl. cheryl: you've also got the race to the south of you, jonathan, in arizona where kari lake also making those allegations. we're watching that race as well right now. jonathan, thank you very much. for that live report from las vegas. now let's move to georgia. the countdown is on. just 25 days million the runoff election between democratic incumbent raphael warnock and republican challenger herschel walker. big money big name supporters are pouring in. fox news correspondent jonathaner is arely is live in atlanta. jonathan. >> reporter: hi there, cheryl. with the balance of power in washington at stake, millions of dollars are flowing into this

u.s. senate runoff taking place here in the state of georgia. herschel walker's campaign says it raised more than $7 million since wednesday, that's when state election officials confirmed the race was headed to a runoff. last night senator ted cruz joined walker in the small town of canton, 40 miles north of atlanta. >> i gotta tell you, there is no state in the union with a bigger divide between their senator and the values of the state. >> they said we're in overtime. [cheers and applause] we in overtime. that mean we got a runoff. hey, i was built for this. >> reporter: the democratic senate tile campaign committee is contributing to the campaign of rafael war, no trying to win some votes -- war warnock trying to win votes from moderates and independents. >> this is not a race about democrat and republican, it's

not a race of right versus the left. fundamentally, this is a race about right and wrong with. >> reporter: and republican governor brian kemp, who won re-election this week against democrat stacey abrams, he had a formid bl get out the vote operation. he is now loan aring the resources -- loaning the resources of that operation to a superpac, the senate leadership fund which is associated with mitch mcconnell, and that is the largest outside group that is supporting herschel walker. cheryl in. cheryl: jon that longer thank you very much for that live report. joining me now is former georgia senator, republican kelly leffler. it is great to have you here, and we have to start with the issue of governor kemp and the superpac. we just heard about this. the funds are now shifting over to herschel walker. can governor kemp's machine push herschel walker to the finish line? >> well, absolutely, cheryl.

great to be with you on this veterans day. i want to thank, first of all, all veterans, their families for keeping our country safe and secure. and you know who else supports veterans, it's hefer shell walker. he's been touring veterans' facilities, working with veterans for years and years. where we have the sharp contrast with raphael warnock who said you can't serve god and the military. and that's why governor kemp's support is so important, why it's so important for conservatives to stand with herschel walker. that's exactly what the governor's doing, that's what i'm doing to make sure that georgians understand this race is about us here in georgia. and the only thing i agree with warnock on is that this is about right and wrong, and he is wrong for georgia. he's voted against georgia values time and again in washington, voting 96% of the time with joe biden. and the ground game is so important. and that's what georgians need to know. that's why we have to have people on the ground, not just

on the airwaves, helping georgians understand the stakes of this election will focus right in on them. cheryl: well, speaking of help, former president donald trump has been in the herschel walker camp and has been pushing for him, obviously. but virginia lieutenant governor, kelly, winsome if sears, weighing in on support for former president trump for 2024. i immediate you to listen to what she -- need you to listen to what she told neil yesterday. neil: if the party wants to move on or some in the if party such as yourself, lieutenant governor youngkin feels the same way -- but donald trump still makes a speech next week that he wants to run for president, what would you think about that? >> i could not support him. i just couldn't. we have a clear mission, and it is time to move on. cheryl: kelly, is donald trump a liability for herschel walker? >> looking cheryl, we're the party of addition, not

subtraction or division. what we need here is for all conservatives to come together and stand with herschel. and that doesn't just mean giving money, although i please ask that you would give money at team herschel.com to support his effort because this is a red state being flooded by blue state money. we have to bring everyone together to get behind he shell because really the -- herschel because really the future of the country is on the line. and i say that because a warnock vote will be a vote for joe biden's divisive agenda for america. warnock would be the deciding vote for -- cheryl: kelly, i understand that. i understand those things, and there's a lot on the line, obviously, for the senate seat. it's the balance of power in the senate in washington, but again, let's go back. is donald trump a liability for herschel walker? you see what's happened in other races where the former president stepped in, and it did not go well for these other candidates; mehmet oz, kari lake is not

doing well in arizona. we've got to talk about this. >> we have seen president trump continue to have an important voice in the conservative movement, and we cannot be distracted binaritives that want to -- by narratives that a want to divide our party. so that's why it's so important that the conversation we have today is about herschel walker, the future of this country and it not being in the hands of radical progressives like raphael warnock who voted on the senate floor to put boys in girls' sports, who voted against american energy independence. and so i really want to focus on kitchen table issues, not palace intrigue, because the everyday american is hurting, and it's not because of what's going on, you know, in a media narrative. it's what's going on in their own families -- cheryl: just to be clear, this is not a narrative though. this is what the midterms showed the republican party on tuesday. and that was that maybe, maybe it's time to move on. let's put it another way,

maybe -- what about governor desantis the coming to georgia? what about governor youngkin coming to georgia? you mentioned mitch connell, senator cruz has already been there. is that the way to go? and also governor kemp. governor kemp could be a true asset for herschel walker right now. >> absolutely. and i'm thrilled that governor kemp has thrown his support behind herschel really from day one, and now he's throwing his ground game behind it, as are we. and the key here is that we want everyone to come in and support this effort, but this effort is about georgians, and i'm calling on georgians to support herschel at team herschel.com because we know what will happen, raphael warnock was joe biden's deciding vote, and he pushed divisive ideas like student loan forgiveness when two-thirds of the country doesn't have a college degree, but hard working americans are going to have to pay for liberal elites' college degree. that's what's at stake, on the ballot here in georgia on

december 6th. cheryl: well, all eyes, again, are going to be watching georgia. kelly, you've been there before. you're a very important voice in all of this, we really appreciate you coming on to kind of give us some color. certainly, we're going to be watching and this seat, again, is going to be for six years, so crucial kelly leffler, thank you very much. coming up, the s&p and the nasdaq having their best week since june. we are going to break down the market moves as wall street tries to build on its biggest one-day rally in two years. ♪ you got that james. dean day day dream look in your eye -- ♪ and i got that red lip, classic hinge that can you like. ♪ whenever we go crashing down, we come back every time -- ♪ we never go out of style, we never go out of style ♪ what if “just an idea”

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cheryl: well, stocks are mixed right now after all three indices saw their best performance since 2020 yesterday. the s&p 500, the nasdaq both extending gains as the dow pulls back. geltrude and co. founder dan get trued -- dan geltrude joins me now. the dow is down 160, but the nasdaq9 and the s&p are higher

right now. >> yeah, they are, but i think yesterday was a head fake. i never understand why the market gets emotional, and i think that's what happened. we should listen to gordon gekko, don't get emotional -- [laughter] but, look, they saw the cpi number, 7.7% which, by the way, is lousy, but it's lesses lousy than they thought it would be. all of a sudden the market believes, wait a minute, maybe the fed will slow down. i don't think so. i think jerome powell is full steam ahead, and he plans to overshoot on interest rates -- cheryl: so you think we're going to get -- okay. are you in the 50 basis point camp for the december meeting? you're 75? >> i'm at 75 -- cheryl: really. >> i know people are saying 50 basis points, i think he's going to go 75 because, again, he is so concerned about missing. what happens if we only go 50 points, right, and inflation starts to inch back up again? he's going to be under enormous

scrutiny -- cheryl: but what would cause that, dan? if we're looking ahead to december, what would push that, like, cpi, ppi, pick your index. >> well, of course. i think that while they're going to be looking at employment numbers, right, and we're seeing how the heavy ares are coming. -- layoffs are coming. okay, that's the 50 basis point to say, all right, things are slowing down, we're killing off demand. however, i don't think that's going to kill inflation. why? because this is a supply-side problem, and interest rate hikes are not going to solve that problem. cheryl: interesting. okay, okay. so let's talk a little bit more about what we're seeing in washington. we just had a big discussion in the last part of the show, kelly leffler, georgia. obviously, the balance of power in is at stake, and we don't have any answers yet. but what we know about congress is if you look at the house of representatives, they control the pursestrings, and if that's a republican-led group, what because that mean for fiscal stimulus and financial stability

out of washington in 2023? i ask that because all go back to all that spending we had last year and this year urn democrats controlling everything -- under democrats controlling everything. that is one of the bigger blames we can put on the inflation story. >> no doubt about it. out of control spending, no doubt, was a big part of all this inflation, pain that we're feeling now. so if the republicans can pull this off even by a slim margin in the house, what does it mean? it means a lot less spend spending, it means no tax increases, right, and it really curtails a lot of bad policy that joe biden has been trying to put forth. that's really what it's about. cheryl: he's still going after oil and gas companies though, and i asked that are if a reason. cpi yesterday, the heating oil numbers, it was a double-digit increase month to month of about, if memory serves, i think it was 20 percent. it was 68% year-over-year. we're just now going into the

winter. americans are going to really be suffering. >> absolutely. cheryl: and we looked at the diesel story as well. that's also projected to go much, much higher. that is your grocery delivery truck that's running on diesel. >> yes, it is. and that's why i said supply-side problem with inflation, that relates a lot to, in my opinion, energy policy. if we're going to continue to be against fossil fuels at a every level even though we don't have an alternative, we're going to continue to feel the pain. everything that goes from point a to point b, goods and services is using fuel. if you're going to have fuel be more expensive, well, everything else gets more expensive. cheryl: it's interesting how the markets are reacting to that cpi report. i think you're right, head fake is a very good way to play it. dan, it's good to see you. >> same here, cheryl. cheryl: dan geltrude. cryptocurrency exchange ftx

filing for bankruptcy as ceo sam bankman-fried steps down. susan li's been following this breaking news. what's the latest? >> reporter: we're just getting a lot of commentary from a lot of individuals that a have been in government, that have been in big banks, and that includes larry summers, former treasury secretary, calling it a possible enron, in his words. other big investors saying they were duped by ftx which at its peak was one of the world's largest crypto exchanges. we sifted through the bankruptcy filing, voluntary -- i should remind our viewers, 130 subsidiaries being impacted and that includes the international ftx arm, also the u.s. trading arm as well. only ledger x, digital markets and australia are excluded in this bankruptcy filing. as i mentioned, at its peak it was worth $32 billion, sam bankman-fried himself was worth close to $20 billion, one of the richest in crypto and one of the

largest political donors around. now ftx needs to pay back 100,000 creditors liabilities and assets of $10-50 billion. they're exactly quality with, which is kind of why, of course, ftx is filing for bankruptcy because there's no extra cash. everybody, a savior of a lot of crypto companies, of course, three arrows which was that hedge fund that went under. crypto lender block by last night said e themselves they were shocked and dismayeded by the news regarding ftx and alameda, and they only found out about it like everybody else, on twitter x. they say until further clarity, they are limiting platform activity. also i want to note that there were 100,000 creditors, and that does include some of the gold-branded venture capital funds. sequoia has marked down their $213 million to 0. also tom brady, giselle bun

chen, celeb i think endorsers, steph curry appeared in commercials, larry david in that infamous super bowl add, but tom brady and giselle were paid through some equity in ftx. we don't have an exact figure or dollar amounts, but you can imagine that's probably not worth as much today. also ftx may be victim to the arena curse. ful they were paying $135 million to $190 million for that 19-year miami arena naming deal. miami-dade county sayings they are owed $5.5 million in payments from ftx in the next few months, so we'll see if they actually pony up and what happens to big flashing name, of course, in miami. cheryl: and a lot of crypto stories are going to be playing out in los angeles, to your point, as well. that's the arena curse, that's a good one. susan li, thank you very much for that live report. well, a federal court striking down president biden's student loan handout.

the case was brought by the job creators' network foundation. the president of that group, elaine parker, is here right after this. ♪ muck ♪ ♪

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no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. cheryl: the white house now planning to appeal a federal judge's ruling blocking president biden's student loan handout. fox business' grade city trimble joins me now. grady, the program was already facing challenges in the courts. >> reporter: it was, cheryl. so this ruling is another blow to president biden's plan to forgive student loan debt. it's now on hold, in fact, if you go to the government web site to apply for student debt relief, here's what you'll see. it says courts have issued orders blocking our student debt relief program. at a result, at this time we're

not accepting applications. we're seeking to overturn those orders from the courts. the biden administration's student debt relief plan faces a number of legal challenges. in the latest ruling, the trump-appointed district court judge in texas saysst it's unconstitutional. he argues the biden administration bypassed congress by creating the $400 billion plan under a 2003 law. the heroes act, the judge says, was intended to provide loan assistance to military personnel defending our nation. president biden made the case the pandemic is a national emergency that allows his administration to forgive as much as $20 the ,000 in student loans -- 20,000. the job creators' network, which filed the suit, had this reaction to the ruling: this attempted illegal student loan bailout would have done nothing to address the root cause of unaffordable tuition, greedy and bloated colleges that raise tuition far more than inflation year after year while sitting on

$700 billion in endowments. we hope that the court's decision today will lay the groundwork for real solutions to solve the student loan crisis. you mentioned white house press secretary karine jean-pierre sayings -- says that the9 department of justice will appeal this latest ruling, and the department of education, she says, will hold on to the application information of the 26 million people who have already applied for student loan debt forgiveness in case they are the victorious in court. cherylsome. cheryl: grady, i'm glad you mentioned elaine parker, because she joins me right now. we've got job creators' network foundation president, elaine parker. you're applauding the judge's decision and, obviously, that is key. but i want to ask you about wha. district judge mark pitman. i thought the argument was interesting in his decision. he said i understand the political climate is what it is right now, but the constitution gives us three branches of government, not one. your reaction to that line from

pitman. >> well, look, i mean, this program literally torpedoed the three branches of government, the separation of powers in our checks and balances. he also went on to say that this was the largest exercise of legislative power without congressional authority in the history of the united states. and he equated joe biden's action with the very definition of tyranny. but, cheryl, that doesn't mean that we don't think there's a crisis here. we feel sorry for these students that are being crushed by this student loan debt, we just disagree with holding taxpayers accountable for this crisis. we actually think that these colleges that are sitting on $700 billion in endowments, they are increasing their tuition every year, far faster than the rate of inflation. they pay their presidents and their football coaches tens of millions of dollars a year, all the while they're selling these students on degree programs that they, that will not provide a

return on investment to pay back these loans that they continue to take out. and we need to hold these colleges accountable for that. if they're so confident in the having of these degree programs, maybe they should cosign on these loans. i mean, the president calls out the oil companies every time they raise the price of gas by 3 cents, but he never, ever calls out these presidents of universities who continue to sell these students a bill of goods. cheryl: well, elaine, explain to me then how your lawsuit addresses specifically the problem that you're bringing to our attention, which i agree with, you know? you've got colleges, football teams, i agree with everything that you've said. but how does your lawsuit actually deal with that side of the problem? because what you're fighting up against here is the president of the united states. >> well, look, this lawsuit is about a good governance. this is unconstitutional. you know, the president has

bypassed congress not once, not twice, not three times, but now four times. and four times a court has told him that he doesn't have the authority to make these sweeping changes through executive order, and that's what we're pushing back against. also this is a $400 billion program that the9 president claims he has the authority to spend when we know that congress is the one who has the power of the purse. and all this is going to do at the worst time when we're deal with 40 year -- dealing with 40 year high inflation is create more inflation for this economy and hurt everyday, ordinary americans. again, these students, they deserve relief. we empathize and sympathize with them, we just disagree with the i solution. i mean, where is aoc on this? why isn't she calling out the heads of these colleges that pay multimillion dollar salaries somewhere's elizabeth warn calling -- elizabeth karen calling on some of these

students? -- on some of these colleges? none of these people in congress, democrats, the biden administration, are calling out universities in any way, and they need to be held accountable. cheryl: one of the things that was interesting in the ruling from judge pitman, and i want to ask you about this. he wrote that the heroes act that was relied upon by the president to enact this plan, did not authorize the $400 billion that you mentioned. how much hope does that give you that the do to j's appeal is going to be thrown out?? -- the doj's appeal is going to be thrown out? >> absolutely. congress never foresaw there would be a program set up with over $400 billion under executive order just by order of the president, $400 billion payout without with even putting it through notice in common. i mean, under the administrative procedures act if a regulatory

agency is require proked to put out an order of -- required to put out an a notice so every american has a chance to be heard. in this case they went into a back room, and they came up with an arbitrary rule. some people got more, some people got less, and they came out with this rule, and if nobody had any input on it. that's the purpose of our notice and comment, so that americans can still be heard to unelected bureaucrats. cheryl: elaine, thank you very much for coming on. big day for you, for your group. obviously, there's many legal challenges. we will see what happens with the next step of this case. please come back and keep us updated. >> thank you. cheryl: thank you, elaine. all right, we've got a hot e -- a lot more coming up. honoring our heros. we bring you the story of a veteran-owned business that's become one of the fastest growing companies in the united states chg -- in the united states. that's next. ♪ oh, yeah, all right, take the

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cheryl: american manufacturing is a i live and well on this veterans day. and one fast i growing apparel and fitness company has made helping veterans a key part of their business. fox business' ad addisonal worth is live -- madison alworth is live with that story. hey, madison. >> reporter: hey, cheryl. origin, the company here, is completely american made. they source everything from america and make everything in america. and this company is not only seeing successing with their customers, they've been able to grow immensely. i want to bring in the cofounder, jacques coe will ink. in the last three years, you guys have grown over 700%. what do you attribute to that

immense growth? >> well, there's a lot of different factors, but the primary driving force, in my opinion, is patriot itch. americans love -- patriotism. americans love buying american products, and that's what we're making here. >> reporter: you make jeans, boots, supplements, energy drinks. when we were in the height of the supply chain issues, you guys were an easy source because everything was here. you weren't held up by ships stuck out at sea. now it's better, but why do you see customers turning to you? >> i think americans recognize being beholden to foreign products is a bad move not just for the economy, but for who we are as a nation. that's why i think we're moving in the right direction. >> guest: thank you -- >> reporter: thank you so much, jacques coe, really appreciate it. i want to bring in the cofounder as well, pete roberts. you guys are business to consumer, but you call it f to c, factory to consumer.

what does that mean, and what difference does that make with your products and the people buying them? >> one part of that factory to consumer process is happening right here live with the american hands making hard things together. but it doesn't end with american muscle making denim blue jeans in the u.s.. you've got to trace it all the way back, and that u.s. supply chain, when i say if you trace your product back, all the way back, you follow the truck, you're going to end up in a field talking to a farmer. that's factory to consumer. >> reporter: love it. we're in front of a motorcycle. you guys haven't made this, but tell me about this bike and what you guys are doing this weekend. >> well, today and throughout the weekend any purchase on our web site is going to be entered into a sweepstakes to win this bike that actually shouldn't exist. it is ridiculous. it's american super bike made by a marine veteran, took him four years, edge mered and designed, and we're going to give it away. >> reporter: and how does someone get entered? >> on our web site. any product you purchase

automatically enters you into the sweepstakes. >> reporter: awesome. thank you so much. cheryl, the it's amazing to see the growth of this company. like i said, over 30% growth. and in the time -- $300%. -- 300% growth. you know, it's great in theory to see a company doing american made, but then in practice you see that it's working, that they have immense growth, and heavy grown their company from 12 employees up to 500 and still growing. cheryl, back to you. cheryl: well, if you've got jocko on your side, you're already winning. tell him we say hello from here. madison, thank you very much. all right. our next guest is a veteran himself who served 26 years in the u.s. navy and 22 years as zeal team commander. he is -- seal team commander. he is now helping members of the special forces transition to civilian life. math stevens joins me now. matt, happy veterans to you, sir. >> thank you very much for having me.

cheryl: we thank you for your service, but i want to thank you for what you're doing now, helping these men and women transition. we're now seeing that post-9/11 military man or woman now coming out into the civilian work force, civilian life. tell us what you're seeing out there as you work with these brave heroes. >> well, the honor foundation's a national nonprofit, and we provide best in class transition assistance to the men and women of the special ops community. they are high caliber people, and they are going to do extremely well in the private sector when they transition out. what we do is help them figure out their purpose on the planet when they take off the uniform, give them the tools to effectively do it, expose them to the art of the possible and help them find full imment -- fulfillment, whatever that means for them. cheryl: are companies still embracing our veterans? there were so many programs that were debuted, in particular from, like, 2010-2020.

are the companies still supporting our herosesome. >> i believe they are. some give it lip service, but most of them who understand the value of a veteran, they get it right away. we're talking tireless work earth chick, leadership -- ethic, problem solvers, people who showing up on time is not even part of the issue. they're going to do really well for the businesses. so the businesses that get it really thrive. cheryl: that's good to hear. and, of course, they are a major asset to any corporation because of what they learn in the military which is, obviously, whether it's to be on time, to show is up on time, but also to do a job well done, pride in your work, all those things the military teaches you. but the military now is facing this growing recruiting crisis. you've got the army in particular falling short of their recruitment goal, i think it was by 25% for 2022. that's a big chunk. what's going on? what are you seeing out there?

>> well, the first thing i would say is that we absolutely can never lower the standards is, period. the special ops community has never lowered the standards, and you'll always have a pool of talented people to enter the work force. businesses should make a concerted effort9 to hire them not because it's the right thing to do, but because it's going to be great for them and the economy x. that's what we get after at the honor foundation. cheryl: but, again, i think that recruitment goal, what could you say to someone right now, because one of the things actually that they were kind of pointing out was the fact that the younger generations, there's problems with obesity and some of the health standards for those tests that they need to do. that's just being in the military. forget being a navy seal, that's a whole other level of being tough and strong, and that's what you did. but what do you say to those people who are nest about combat or facing, whatever their fears are about facing the military, what would you say to them to get them to maybe enlist?

>> i would say serving a cause greater than yourself is always a great place to start. 9 and the military has so many options and opportunities that whether you do four years or forty years, it gives you those basic tools that will set you on a path to success for the rest of your life. cheryl: all right. we're going to leave this with go out, hire a veteran. that is the message from this. matt, thank you so much for your service to our country. >> thanks for having me. really appreciate it. cheryl: well, switching gears, president biden says that elon musk's foreign ties are worth looking at. but what about china's relationship with the banks, u.s. banks? vivek ramaswamy takes that on after a quick break.. (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique.

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cheryl: president biden saying that elon musk's foreign business dealings should be looked at. the question, whether this is even constitutional. david spunt is live at the justice the department. david. >> reporter: hi, cheryl. well, we don't know if it's constitutional or not, it's more could it be a political crisis for the president if he gets involved in something like this. he was asked directly earlier this week at the white houses if elon musk is a national security threat. watch this. >> elon musk's cooperation

and/or technical relationships with other countries is worthy of being looked at. >> reporter: a savvy billionaire, cheryl, has a large financial stake, almost $2 billion, in twitter prompting that question from the white house press corps. the president, though, suggesting going after a free speech entrity like twitter -- entity like twitter raises even more questions. i asked the press secretary to explain. what does that mean? it's raising some questions. >> the national security adviser, jake sullivan, just answered that question. i'm not going to go beyond that. he is, as you know, the adviser to the national security council. i'm just not going to go beyond that. and as the president said and as i i have said many i'ms, we jusu

to the committee -- >> reporter: well, jake sullivan mentioned cfius with, a board made up of treasury, commerce, state department and doj officials, so the very suggestion that musk's relationship should be looked at looks in a way that president biden is essentially telling the department of justice what to do even though he says the white house is separate from the doj. in october 20 2021 the president was asked if he thought doj should investigate those who died the january 6th subpoenas -- defied, he said, i do, yes. no comment from doj after this recent suggestion by the president, cheryl. cheryl: i have to add the prince has had a stake in twitter since 2011, so -- because elon musk takes over twitter, now it's an issue? just, you know, there's a lot of questions here. david spunt, thank you. >> reporter: there are. cheryl: thank you for that report. let's get reaction from executive chairman and nation of victims' author vivek ramaswamy.

taking that to you. the prince has had that stake in twitter since 2011. he's now the second largest shareholder in twitter behind elon musk, but what exactly changed here as far as the prince's stake in the company? >> so, look, nothing's actually changed in substance, but the problem is there are two very different, real issues here. do i believe that other countries, china in particular, use multi-national companies headquartered in the u.s. to advance their geopolitical goals here? they absolutely do. many financial institutions and other companies fall into this trap. but that is different from applying asemimet reu78 rick -- asymmetric scrutiny to a company like twitter where a saw aty influence on twitter would not even make the list of the top ten of operations going through american companies. precisely because elon musk has signaled that the government is not going to be able to control

what speech gets taken down on twitter, that's a threat to president biden, and so they're using a statute, cfius, that may have had good reasons to scrutinize chinese wiz relationships, but to advance a political objective. cheryl: we should say that we we learned from mark zuckerberg on joe rogan's podcast of all places that the biden administration had reached out to them as far as watching out for things being said on their platform. so obviously, twitter -- obviously, the biden administration has at lot of concerns about what they're seeing on social media, sure. elon musk says, and this is reportedly, that there could be a bankruptcy filing at twitter, and he's got executives that are leaving, executives he's pushed out. what do you make of that? again, there's a report that that was something he mentioned yesterday. >> so, look, i think there's little doubt that twitter is in financial trouble. what elon said at the start of this process, and i take him at his word, this was not a

principally financially-motivated bet for him. he wanted to turn it into a free speech network and the functioning of them can crass. i personally think there are ways out of his challenges. at the end of the day, if you transition away from an advertise ther-dependent business model, that goes hand in glove with the plan that i think he needs to implement. no viewpoint-based discrimination on the platform period. no government coordinate nation -- coordination, period. if you're going to take down downfalls speech, the the company has the burden of proving that it's false, and when in doubt, give the power back to the users to decide what they do and don't get to see on the site rather than making those decisions centrally. the good news is that model could cost a lot less, make a much more effective free speech platform, and most importantly, if you give power back to the user, you can charge them so even if advertisers boycott

yoked you, you're not as hurt from a business standpoint. i don't think this is in any way destined for failure, there are paths to success, but it's up to elon to recognize it. cheryl: okay, all right. thank you so much for your perspective. we are watching the markets. we're going to talk about thismd rally, lag on the dow. we'll be right back. ty. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign,

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