tv Varney Company FOX Business December 22, 2022 9:00am-10:00am EST
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the time got into one of these and it took a long time to get him out. you can't reach in and -- he just climbed right up and they had to wait till the operator of the machine came with a key. he was in there for a couple hours and be careful, it might look good and don't turn your eye on your kids. >> happens a lot apparently. >> my seven-year-old son is so good. we were on vacation and was like, daddy, do you want to ball? he comes back five minutes later with the ball and i was like thanks, where'd you get that? claw machine. go back to the hotel and there's six other balls. maria: dagen mcdowell, mark tepper, leigh, get to see you guys. "varney & co." begins now. david assmann in for stu. stu: good morning. i'm david in for stuart varney.
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bankman-fried is back in new york. meanwhile two of his associates, ftx cofounder gary wong and alameda research co-ceo caroline ellison both pleading guilty to federal charges. look at futures and doesn't look like a good start for the day and dow town 228 in premarket activity and look at nasdaq down at the bottom, over a one% fall again premarket and anything can happen and we follow it all. as congress is getting calls to account for an enormous $1.7 trillion, 4,000+ page spending package, it's loaded with pork and could hit a roadblock and cause a government shut down before the christmas. we have the details. we have congress till tomorrow night to pass the bill and meanwhile republicans and democrats at an impasse over title 42. we have all the details on all
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the developments inside the beltway and a possible bomb cyclone and arctic outbreak put 215 million americans under weather alerts. it's a good thing santa doesn't mind traveling in the cold. it is thursday, december 22, just three days, folks, before christmas. three days. "varney & co." is about to begin. ♪ david: sam bankman-fried is back on u.s. soil and his former partners are spilling the beans to prosecutors. good morning to lauren. sbf arrived in new york late
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last night. what's next? lauren: he was handed over to federal authorities in new york and he's going to make his first court appearance today and he's looking to be released on bail and his return to u.s. soil comes the same day as you noted, his ex-girlfriend caroline ellison and ftx cofounder gary wong pled guilty to fraud charges and agreed to cooperate with authorities in exchange for lighter sentences, the spilling the beans. david: charlie gasparino doesn't need anymore publicity, but he was spot on and saw she was in new york two weeks ago and said she's probably spilling beans and had good context with prosecutors. you heard it here first on fox business. thank you, your honor lauren -- lauren. gary, it was a few months ago that maxine waters, the chairwoman of the house financial committee had her arm around -- well his arm at least was around her shoulder. i mean, this story is just, i
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think that's the key to this story. not necessarily that there's a crook inside the financial business. i mean obviously that's not news. but the fact that you had the head of the financial services committee arm and arm with this guy is just disgraceful, is it not? >> well, look, i'm a big believer and i don't care which party it is when you see things like this, everything should be investigated and every dime taken by a politician should be automatically given back to the bankruptcy attorney to give back to whoever lost it and all i can tell you is they should throw away the key and these are people that made a decision to screw people and their lives. people lost their life savings and i can't imagine what they're going through. any politician that was neck deep in this was part of it. i'm not saying they weren't part of it but should be from soup to nuts in investigation and talking billions and billions and billions from this crook. and crooks. david: but that's chump change compared to what's happened
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inside the beltway with a spending bill, $1.7 trillion. we're talking disgrace with sbf. this seven more disgrace and look at all the pork inside this thing they were trying to slip right through and it's bipartisan by the way. you have senator shelby, he's got about 600 million worth of -- more than that. you have pat lehe, democrat, and republicans and democrats shelling out the pork we're all paying for. >> they don't care. they disrespect the taxpayer. this is all on our backs and let me give you a couple of numbers, david, the last year of bill clinton's whole federal budget was $1.8 trillion. we're going to need $6 trillion this year. i'd like to know where all this money is going. the amount of money spent over the last couple decades, 70, 80 trillion, that's federally and keep saying they need more and diverting to little places just to make their voters happy.
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i don't even want to go with this. this deficit spending -- david: gary, we have to run but i have to give you two examples. patrick lehe retiring in the senate and richard shelby, the republican has something called the fbi red stone arsenal turned into the richard shell bernards healthcare center for -- shelby center for training and taxpayers around the country are paying hundreds of millions and it is a disgrace. gary, i know you're as upset about it as i am. good to see you, my friend. happy holidays. president zelensky met with president biden and addressed congress during his visit to washington. lauren, highlights. lauren: the joint meeting of congress as u.s. lawmakers are struggling to pass a new ukraine aid package. zelensky made it clear he wasn't
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addressing congress but the american people and taxpayer saying your money is not charity. it's an investment in democracy. he will continue to ask for more money, for more support and weapons. the u.s. now sending the patriot missile. that system, the first ever transfer is a defense system to another country and it'll take weeks to get there and weeks more to train the ukrainians on it and putin said this is especially kansas city chiefs la tour and biden call it had defensive and needed to shoot down russian missiles that keep come barding ukraine and -- bombarding ukraine and spending christmas by candle light. david: will we be putting u.s. trooping on ukrainian soil. lauren: and what message does that send? david: thank you, lauren. mitch mcconnell threw his entire support behind increasing said for ukraine. watch this. >> the most basic reasons for
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continuing to help ukraine degrade and defeat the russian invaders are cold hard practical american interest. helping our friends in eastern europe to win the war is also a direct investment in reducing putin's future capabilities. rather than slowing assistance, we should be speeding up international deliveries to ukraine. david: jason chaffetz joins me now. before we get into the weeds, what did you make of the whole zelensky show yesterday? >> i thought it was fascinating. i think it's good. any time world riders come -- leaders come, i've been on the floor when several leaders have been there and it's productivement but it does beg the -- productive but it does beg the details and i've blown through $50 billion and aid would be $110 billion. what kind of oversight are you going to get on that? what are you getting for that? and the money is not just these
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defensive weapons like patriot missiles, but supposedly goes to government funds and another way of saying it's going to go into somebody's pocket in a salary or bonus or something along the way. why should american taxpayer haves to pay for that stuff? david: absolutely. >> seems like we're de-footing all the bi bills and where is no and the other countries and why aren't they footing the bill? david: it's 12% of the entire military budget. does ukraine deserve that much of our military budget? >> i don't know. i think we've had very shallow discussion about that. with all due respect to senator mcconnell, he makes an impassioned plea but why not have more of a debate and talk through the details and where is it going to go. when this money is spent on american companies to ship the things but also begs the question with joe biden, why didn't we do this a long time
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ago. if you're going to shore up the defenses of ukraine and maybe you soul have done that before, before there was an invasion. david: jason, it was just a couple of months ago we were here and couldn't send patriot missiles because that system requires u.s. troops to be used. now, that's a very dangerous situation. are we going to be forced to put u.s. troops on the ground in ukraine in order to train the ukrainian troops to use the patriot system? >> i believe the president made the commitment that we were not going to put troops in there so again, another question that needs to be answered, and i don't think there's been those answers yet. that's the problem when you rush through the massive 4,000 page bills is you don't get answers to these types of questions. david: yeah, our 1.7 trillion -- next time we have to have you come on and talk about the 1.7. we hear that and after the cbo gets through it'll be $1.9 or
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$2 trillion so lord knows where that thing ends up. jason, good to see you my friend. have a great holiday. merry christmas. >> merry christmas. david: staying in ukraine, president biden has a task force to look into the use of american technology in iowa h iranian mae drones. lauren: drones down in ukraine that russia threw. 82% of the components in them for made by american companies. we have tough restrictions and sanctions that are supposed to prevent this, so how is a, iran getting our technology and giving to russia so the biden administration rightfully so launching a task force described as all hands on deck and members of defense, state justice, congress, treasury coordinating and starting by telling companies you're affected. your chips were found in the drones. monitor your supply chains and monitor china. what if they're making replicas of some of the american parts and selling to the iranians to
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use for russia. david: 82% american made. lauren: unbelievable story. david: lauren, thank you. check the futures, they were down but are worse this morning and dow was down in premarket activity by 210 points and nasdaq is really down, way over one%, about 1.25% down and 140 points. premarket activity and anything can change very quickly here. it is a holiday week. a few trades can make a big difference but we're on it. coming up, the border crisis getting worse and louisiana senator john kennedy never one that's short for words is calling out the white house, listen. >> the biden administration's position on title 42 on the remain in mexico program. anyone of the president's positions on this make any sense to me. david: is it calculated?
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does the president want an open border? we'll get into that. there's this, a dangerous winter storm is headed to the midwest and great lakes before it moves to the east coast. it's expected to bring powerful winds, bitter cold temperatures creating problems for folks getting ready to travel for the holidays. jeff flock with a report, next. ♪
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to finally lose 80 pounds and keep it off with golo is amazing. about co i've been maintaining. the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have a new lease on life. golo is the only thing that will let you lose weight and keep it off. who loses 138 pounds in nine months? i did! golo's a lifestyle change and you make the change and it stays off. (soft music) david: that's the jackson five but you're looking at upper
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peninsula of michigan. i tell you, folks, if you think where you are is cold, doesn't get colder in than the up in terms of the united states. in sioux saint marie, it's getting a lot colder. holiday travel is a nightmare to begin with and with the winter storm warning in place, things could get a lot worse. jeff flock, not too far away from sioux saint marie in milwaukee. i know that milwaukee is just about at the freezing level, 30, but it's going to get a lot colder in the next couple hours; right? >> exactly. i got to change coats because this one is -- this is a 30 degree coat. i got to get a minus 30 degree coat. this is overlooking the runway that perhaps you see at milwaukee mitchell international, and i don't know if chris can pan around to the left and maybe see snow fighting equipment being put into place staging this and they think snow could begin as early as three
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hours from now and it's hitting way out to the west. not pretty at all in places like minneapolis and cheyenne, wyoming. that's what's coming here and hoping it's not quite that bad but guess you never know. take a look at misery map, no misery in milwaukee at the moment and only had a couple of cancellations out here. they have a lot of experience with dealing with cold weather and snow in milwaukee but elsewhere around the country, i think denver has over 100 cancellations, chicago o'hare has over 100, midway has a lot, and detroit also preemptively, even though the weather is not there at all, they've got a number of cancellations as well. not going to be pretty over the next few days, david. wish you were here with me and we could co-his rate. it's okay. commiserate. david: am i looking at jeff flock without a hat on that has a cold right now? what are you doing?
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reporter: well, yeah, i just got covid. no big thing. so -- no. i don't think i have covid. i haven't tested but i have a cold. that's for dam sure, yes. david: maybe a bit too early to make the covid joke but the point is you need a hat, man. i hear a cold in there. it's going to get a lot colder. reporter: i still have hair, david. i like to show the hair. if i still have some, i want to show it. you're lucky, you got all your hair. you guys are lucky. david: still, you need a hat. take care, my friend. good to see you. thank you very much. bring in another jeff that we have following the weather, our travel guide jeff homan. jeff, anything that can be done to prepare for the travel nightmare that's coming? >> actually, david, there is. with that arctic blast and i love that term bomb cyclone, all the weather out there, there's been 750 total flights canceled today around the country, but there are a couple of tips that
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people can do. first of all, take the first flight out whatever day you're traveling, you're better off booking the first flight out for a couple of reasons. one, the planes are usually already there from the night before so you know your plane is not stuck somewhere and second, if it is stuck somewhere, chicago, denver, the airport where there's flights canceled, you know the night before so you can prepare. the other tip for our viewers is that all of the airline websites and other sites like flight aware and flight status, go and look and see where is your plane coming from and is it going to get there? a lot of people say there's no weather where i live, i'm in florida. but your plane is coming to you and connecting through chicago and denver and may not get there. check the airline flights and look where your incoming flight is coming from and book the first flight out in the morning. david: excellent advice. jeff, thank you so much. jeff hoffmann, we appreciate it. a child's letter to santa going viral on social media but,
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lauren, it's not exactly cute and dudley. lauren: i'm appalled by this story. the boy's name is justin, and wrote santa a letter asking -- i asked for two big items and only got one and santa responded well, justin, honey, they were expensive and santa did the best he could. this is how he hit back, watch. >> your threats don't scare me, i played your game and you did not deliver. this is not okay. i will give you one week and then you will pay. i do not like that stunt you pulled. you are on my naughty list and be afraid. you look slow and easy to kill. david: oh my goodness. lauren: the exchange has gone viral and some are laughing but i'm cringing. david: i liked till he used the kill word. you don't use that with santa claus. that's going too far.
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lauren: the small part of the exchange. he called the evaluation slaves and went on and on and on. justin should be on the naughty list. david: lauren, thank you very much. investors may be on the naughty list for today and dow down about 217 in premarket activity and look at that nasdaq, folks. it's down well over a percentage point. again, this is a holiday week and it was a bad couple of months that we've had here but it looked like we're getting a bit of santa claus rally. i know santa claus. i get letters from folks saying don't call this a santa claus rally if it gets positive because we had a bad month but nevertheless we seem to have one yesterday, not so today. we're going to get the opening bell coming next. stay tuned. ♪
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rally and people don't like that term and think about all the money lost for the full month. we give them credit there but the fact is that we were, you were hoping for a santa claus rally and apparently we didn't get it. >> david, great to see you and merry christmas. i was hoping for a santa claus rally and the fed put up stop to that and yesterday there was hope we could have gotten an end of the month rally. today looks like that's not likely because whatever the -- i think part is this bomb cyclone, flights being can delled and last couple -- canceled and last couple of days will be squashed and the holiday season done and sales not good and very little chance for a rally and might as well sell everything here and go take the rest of the week off. david: let me talk about what's happening inside the beltway and
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we'll have new spending bill waiting in the wings being delayed a bit and there's a lot of pushback from voters once they find out what's actually in it, but if that passes that means more inflation, that means higher rates, and what's all that going to do to the markets? >> it's going to take the bond market and that in turn will put a heck of a lot of pressure on the stock market that's already in a weakened condition. you have to understand that the fed raising rates and cost of raising debt for the u.s. government and treasury will increase and the more money they need to issue, who's going to buy that? the federal reserve isn't down on the buyer of first resort anymore and who bias that debt. that's a huge problem and congress doesn't understand that and it's going to create massive problems. david: by the way the answer to that question is depends how high the interest rates go and only way they'll be able to sell that debt is be having the interest rates go up a little more. i wonder, by the way, maya
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mcginness says every percentage point that goes up in interest rate means an extra 100 billion a year in payments by the government. we're going to go broke if this continues. >> we're on that path. we're not going to be able to pay the interest on the debt in the year or two. things are bad bad and congress is making a muck of everything else so this is -- it doesn't make any sense for me to be raising spending at this time. the economy has to go through this gut wrenching recession i think we're headed into. raising spending at this time, it's a bad policy period. david: aagree. 100% with you. shah gilani, i hope you're in a warm place when the bomb cyclone comes through. as the market opens, you see the clapping of hands and a couple more days before christmas and doesn't look like we're going to have at least today the santa rally. again, not a day-by-day thing and look at long trend and that trend has not been good over the
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past month, but we had somewhat of a santa claus rally yesterday, not so today. the dow looks like it's going to be trading down about 170 points right now. we're looking at the screen, we only have one green -- yeah, is that one? chevron is trading positively but the s&p is down about three quarters of a percentage point. if we can turn to nasdaq, that was really taking it on the chin in premarket activity and still is down 116 right now. that's over a percentage point lost for the big tech companies and here are some of the most popular, apple down, meta is down, microsoft down, alphabet down, amazon is down as well. micron has announced a round of layoffs and we're hearing more and more about this. how many people? susan: ten% of 48,000 that they employ so that's roughly 4800 jjobs that will be gone so the idaho-based chip maker has been doing well over the last few
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year withs remote work pc boom and now things have turned and they're suspended bonuses into 2023 and they'll lose twice as much money as wall street forecasts in the final three months of this year. the ceo said too much memory supply and not enough demand, which makes sense looking at higher inventory and pricing power and people aren't buying their pcs to outfit their home offices because they've done that . intel announcing layoffs this year and didn't say how much. it's across silicon valley, high-tech and the jobs recession and thousands of jobs are being cut at meta, amazon, tesla and twitter and snap. back to broader markets and noting it's down. we can't discount from one of the most influential investors on the market and david tepper and can't fight the quantitative tightening and raising interest rates and shedding balance sheet as well. david: check under armour if we
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can. trading down and a little over 1.5%. they named a new ceo. who is it? susan: took seven months and female leadership and it's a breath of fresh air. president stephanie lenard stepping in and take over as under armor's next ceo and looking for seven months and previous ceo surprised everybody by resigning in may all the sudden but the founder kevin plank said it's all about stephanie's digital experience he's interested in. under armour is in trouble and had lawsuit where they lost about $60 million to ucla cutting full year outlook with no demand and stock down about 50% this year but nike has the athletic apparel and people turning around in china. david: tesla is offering discounts on some models. this is the first i've heard of
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this. susan: it's double what they were offering a few weeks ago and now 7500 enough rebates to buyers in model threes and ys and two highest volume models they sell here in the u.s.. the catch is you have to buy before the end of this year and just mirrors the upcoming change in the tax credits to certain consumers that will be eligible. of course part of that inflation we duction act so they might as well offer it earlier to get people to buy some of those discount models. the stock is down 60% as i mentioned to you. tesla, elon musk with exxon on pace for the worst quarter, week, and year for the electric car company and demand issues be it china and the u.s. especially if offering incentives but production, it will be close to 50% higher levels from last year. so you can be looking at 1.4 million in cars per dues and 1 million off shanghai's production line. david: it's a tough year for cars and tough time for carmax. it's down quite a bit, about ten% right now.
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susan: wow, yeah. had a very disappointing quarter and worse than the analysts forecast. we're talking about they only made a third of the forecasted profit that wall street had anticipated. that is not good. you have comparable use vehicle sales down 22%, way worse than 16% forecast and the stock with the fact that the used car boom is over with the supply chains easing up and that's a problem for these type of companies. david: verizon, i use them on my little iphone here. what's on them? susan: looking at worst year on record for verizon. david: my subscription didn't help them at all. susan: apparently not, david. but down about a quarter for the year and some say that's better than most, especially staring down technology companies but seeing the lead to at&t and they started off this year by cutting
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their dues end and protected dividends and sold off warner bro discovery. david: too simple. i'm not that familiar with too simple but walking back reports they were going to cut 50% of their staff. susan: they're cutting about 25% of their work force so not 50 but 25 and staring down about 350 jobs that will be lost there. too simple, they have serious issues. they fired their ceo who was accused of stealing the company's own technology to use for his own startup in china. now, these jobs not only will be lost in china but think of san diego and texas. i want to talk about job losses at tyson. this is not a pleasant news story heading into the holidays. they're expected to lose hundreds of employees as they consolidate their corporate offices in alaska and they're going to close two offices in illinois and one in south dakota and when you have a chance to consolidate in the slowing economic times and higher interest rates, you'll find a
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way to cut head count and cash. david: weir going to see more of the -- we're going to see more of the job losses coming. susan, thank you. ten year trading up and two basis points but up to 3.68, about 3.7 if you round up and ticked up one more bit there. gold is down but it's still trading above 1800, it's 18080 be precise for an ounce of gold. we're taking a hit on bitcoin down about $100, 16,677. oil, it is up today, $78.67 for a barrel of oil. the average price for a gallon of regular is about $3.10. by the way in california, we always like to look at what's happening out there, it is $4.34 a gallon. that's an average. coming up, president biden vowing to keep supporting ukraine. roll tape.
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>> the united states is committed to ensuring the brave ukrainian people can continue, continue to defend their country against russian aggressions as long as it takes. david: as long as it takes, does that mean endless aid? we're going to be asking that question from some experts coming up. and the fbi is blasting the twitter files. they say that the journalist posting the information are "conspiracy the theo theorists"n though there's a lot of everyday on their lines. what happened to the investments and a customer that has a few hundred bucks worth of digital token in his ftx account. might not sound like much but it's money to him. ♪
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david: the markets have taken a downturn around 200 on the dow before the market opened and now down 312 points on the dow and the nasdaq really way down, 184 points. that's a one and three quarter percent drop for nasdaq. so we'll be following them very closely over the next couple hours. meanwhile sam bankman-fried is back in the u.s. and he'll be making his first federal court appearance this week. connell mcshane is outside u.s. district courts and what's the latest? >> well, we expect that appearance to happen some point today, david, we expect him to appear in court and two of his top lieutenants turned on him essentially pleading guilty to criminal charges and pledging to cooperate with investigators here in new york. the first is 28-year-old caroline ellison. she'd been running almeida reservice connected and have the trading -- research and the firm connected to ftx and pleaded
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guilty to seven counts including wire fraud and conspiracy to commit fraud and gary wong and the former chief technology officer pleading guilty to four counts including wire fraud. all this at a warning last night from u.s. attorney damien williams. >> if you participated in misconduct at ftx or alameda, now is the time to get ahead of it. we're moving quickly and our patience is not eternal. samuel bankman-fried is now in u.s. custody and will be transported to the southern district of new york and will appear before a judge in this court as soon as possible in this district. reporter: bankman-fried was extradited from the bahamas and saw him at the airport last night where he was turned over to the fbi. federal agents flying with him to new york and our cameras were there at west chester airport north of the city last night when a private plane landed believed to have been carrying bankman-fried from the bahamas
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and our understanding is he spent the night in prison here in new york city and a short time ago, a woman who we believe was the stanford law professor barbara fried, sam's mom was seen walking into the courthouse and we wait for sbf's initial appearance and facing eight charges and if you look at the charges as we've been reporting throughout the week, they're quite similar to the charges that his colleagues have now pleaded guilty to. so we'll see how this goes in court today. bankman-fried and his team have been hoping and we've been expecting that he will indeed be freed on bail and deal worked out between his team and prosecutors but, david, as we've been saying throughout the week that's up to the judge so we'll find out more later today. david: i would imagine he's quite a flight risk all though at the same time you'd have to wondered who would not know who the guy is and what he's done and the whole world knows. connell, thank you.
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dara, you were an investor and lost money in the collapse. when you take a look at sbf, what are you thinking? >> i'm thinking he's probably guilty if his colleagues are both admitting to, you know, the fraud wire charges. i mean, caroline ellison, 110 years in prison. that is not nothing. if what connell says as we were hearing earlier, there are similar charges and he's very much likely on the line for this. david: it doesn't sound like you're that bitter though. some people would say, geez, i want him to spend 200 in jail. the guy here. it doesn't sound like there's that much bitterness in your voice. >> i also realize that he did mean well but very much screwed
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up and the way they were keeping track of the accounting and double counting of the accounting. david: you say he meant well. i mean, if you're lying to your customers about what is happening to their coins when in fact they're investing it, that's not meaning well. that's being -- doing something very bad. >> yeah, 100%. but i mean, in terms of intent, this is probably something the judge has to figure out. he for sure screwed up and definitely does himself a very big hole. i think the effective altruism is at least for me, i heard him talk about how it was in the sense a cover. that it was something to feed the media, the woke folks so that, you know, they'd be less suspecting of his -- more potentially nefarious activities but there's also a part of me that, you know, wants to believe in this effective altruism.
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like we want to believe in the good guys so i'm holding out that maybe he just really screwed up despite the fact that he was in jean street trading, he was mit, got a physics degree. i mean, by all accounts, he's a smart guy. david: he's a smart guy but a lot of smart guys do bad stuff. that's the bottom line. we've seen that on wall street. i'm just wondering if you're finished with crypto? >> oh, gosh, no. i mean the fundamentals of cryptocurrency have really only gotten better since i got in in 2018. there's more use cases than ever and more geopolitics that are going to be more reliant on crypto currencies to bypass sanctions and stuff like that. david: you are a crypto -- you are definitely a crypto die hard? i mean there's no question about it. you lost money with ftx but you're going full board.
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even if i lost money with ftx, i believe in crypto or the block chain technology but i tell ya -- >> it's a tuition. it's a tuition. david: yeah, all right. >> you're not into it at all i take t david. ? david: i'm not at all. i'm too old for crypto. i have to admit it right up front. you're nice and young. darrah grove-white, good to see you and glad you're not bitter about the whole thing too. good stuff. >> life's too short. david: life is too short. you're right on that one. we're getting insight into what sam bankman-fried's prison stay was like in the bahamas and doesn't sound too cozy, is it, lauren? lauren: it wasn't that bad according to the reports and was in fox hell for eight days and got perks and was kept away from the general population in the sick wing. he had air conditioning, he had cable tv, his own cot, running water and a toilet and apparently they gave humvee vegan food and came to examine
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him two time as day. david: he was screaming and claiming he couldn't live like this anymore. lauren: he wasn't used to it. remember his luxurious digs? david: thank you very much. cosming up, there seems to have been bad blood between president biden and vp harris. a new book out says biden called harris a "work in progress and was annoyed that the first gentleman complained about her assignments". we have the details coming up. ♪
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it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about. it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. psoriasis really messes with you. try. hope. fail. no one should suffer like that. i started cosentyx®. five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis.
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an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist david: madison alworth is in boston and how are officials preparing to keep the power on when the storms hit? reporter: david we'll hear from the mayor of boston in a short while about what the city is doing when it comes to energy companies, they're calling back staff and hiring additional staff to deal with what they say will be a bad storm. in the bid west we have -- midwest we have snow and cold temps and in the northeast we have rain and high winds and power outages will be widespread.
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taking a look here in massachusetts, they expect a thousand damage locations across the state in the 24 to 36 hour period and that's all happening before christmas. that's why they tell us that they actually had to cancel vacations for their employees to make sure that they were here and they also had to bring in additional linemen and staff. but all of these obstacles have made it harder to hire outside companies and it's really create add perfect storm. take a listen. >> when you have a big event like this and it affects a large area, those crews are at a premium. they're hard to get when you have big events but given this is the holiday weekend, it made it even harder. reporter: if that weren't enough, a surge of arctic rare will likely follow all this delivering another blow to an area that's really just coming off a major storm, which knocked out power to tens of thousands of homes and with air traffic already being impacted, more americans might take to the road
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to try and get where they're going. nearly 113 million people -- or let me put it this way, one-third of the entire u.s. population is going to travel 50 miles or more during this year end period. of course many of them will be driving and here in the northeast, that wind and that rain is also going to impact those on the roads so even if you take to the streets, they're saying to be very careful driving through these conditions. david. david: unbelievable. that's a third of the country. extraordinary. madison, thank you. we have a busy show, liz peak is here and new york congresswoman nicole malliotakis and david webb and the third hour of "varney & co." is next. ♪ ..ur
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