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tv   Maria Bartiromos Wall Street  FOX Business  March 26, 2023 10:30am-11:01am EDT

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we have a special farewell. maureen murphy, who has been our producer since the launch of this show is moving on from the television business. we are going to miss the reassuring sound of her voice in our ear every week, but we know she will be watching a separate when she goes to italy, a well-deserved trip and she can tape the show. thanks for making this show come together every single week. that is all for us, see you next week on "barron's sean: thank you so much. michelle thank you. >> from the fox studio in new york city. this is "maria bartiromo wall street". >> happy we can do all welcome to the program that analyzes the week that was in position to for the week ahead. i am maria bartiromo republican lawmakers are demanding more from answers as a grand jury of former president donald trump dragged into next week. key gop leaders are requesting alvin bradsher documented
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testimony related to a potential indictment of donald trump. brad is pushing back saying the letters request is unlawful into new york sovereignty in this type of inquiry appears to be unprecedented. the delay reason were question of the validity of the das case joining the house a administration committee chairman brian, it's great to see you. thank you for being here this weekend. you are one of three lawmakers demanding more from evidence. what do you want to see. >> we want to see documents and have a conversation directly related to a federal nexus to the case. i think there's three key things that we need in the american people deserve to know are the federal funds being used in the investigation a lot goes to the district attorney for actual public safety. those being used for partisan purposes. is he correlating with any federal agencies in particular the united states department of justice office support because the d.o.j. has chose not to
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prosecute in the case these are the questions that we need to know the answers to. maria: what do you think alvin bragg is up to, he just wants to stop trump? >> the whole thing gives you the hheebie-jeebies when you look at what's going on multiple prosecutors have looked at this and chosen not to prosecute pot like. i think there's reasons are federal resources being used is he correlating with the federal office and is he trying to take the role of enforcement of a federal action in this case federal campaign. maria: why we watch alvin bragg and what he's doing there is no focus as far as the democrats are concerned of the biden laptop and all the influence peddling evidence on it. where is outstanding. the fbi has been investigating hunter biden for five years and we know they taken money from communist china. >> i think there's a consistent concern amongst the american people we are watching the judicial system being
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politicized everyone should be treated equally under the law. when you see investigation into the former president of the united states you contrast that to the lack of investigation into this president and a lot of people are left scratching their heads. ultimately republicans in the house of representatives are going to have to do a lot of work to get to the answers. maria: there is a simple question rob walker was sent $3 million from the chinese partners, what was the money for. what were they paying for the fda got the 3 million-dollar check, the next day he sent a million dollars plus to the biden family members. what specifically were they being paid for. >> james comer in the oversight committee are digging into this. ultimately were getting into the answer. i think somebody people cross the border are asking the exact same questions and i look forward to the investigation report in the future. maria: all of this in the face of more worries about the economy. the banking sector once again
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under scrutiny. our look at deutsche bank in the first republic credit suisse doing a merger with ubs. all bailouts on the signature in silicon valley collapse. i know your committee the house financial committee is going to hold the first meeting on the failure of silicon valley with the head of the fdic the fed and treasury department, what do you want to get out of the hearing. you sit on the committee, what are you planning. >> we need to get the answers of who, what, where, when, why and how is occurred with the regulators asleep at the switch was the management in these banks particular doing anything inappropriate it sure seems like they were doing their job. ultimately what is driving this. at the end of the day we're going to walk away realizing the federal reserve has raised higher interest rates to tame inflation. the action that congress has to address. we have to bring inflation down in the policy of the biden
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administration of democratic control in the previous two years that led us to the inflation in the first place. maria: elizabeth warren is blaming roles that were rolled back, interest rates went up. the federal reserve raised this past week and it caused a shock to the banks that could not move fast enough. were expecting to continue on ordinary businesses some of them are rolling over the corporate debt in the good-faith higher interest rates, can they management? i don't know stomach there's no question that the democratic elizabeth warren and joe biden looking like a scapegoat, what they don't want to talk was democratic policies cause inflation in the first place. it was runaway spending, war on energy and the pain people not to work apparatus into an inflationary environment. looking for a scapegoat rather than addressing head on the underlying issue that is the inflation impacting 70 american families. maria: we have another revision
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the final revision of the gdp coming out in the week ahead. are you expecting a recession? what is your assessment of the economy right now. >> i'm very concerned aware rock, the federal reserve has a blunt force instrument to try to bring inflation down that is raising interest rates. that actually hurts people, congress and president biden have failed to address the underlying issues. we need to get on with the work of changing policy we can stop the reckless spending and unleash american energy and get workers back to work. if we do those things we can tame inflation and also help you american people. maria: in terms of catalyst in order to get us back after all this bad policy and the bad outcomes what is in your toolbox to make a difference. >> as we go into the debt ceiling debate i would like to see the president come to the table and address the underlying issues we could truly unleash american energy we saw joe biden
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vague for oil in saudi arabia and provide leases to venezuela. let's release american energy and bring prices down and help american jobs let's cut the reckless spending we can do a lot of stuff in congress. maria: thank you. will be watching all of that we appreciate your time. >> thank you brian stiles joining us what length will the federal government goin go to kp are money safe if another bank goes down your guess is good as mine if you we fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com
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difficulties we have seen that pose the risk of contagion. >> we have not considered or discuss anything having to do with blanket insurance or guarantees. we invoked a so-called systemic risk exception these are tools that we could use again for an institution of any size if we judge the failure would pose -- with all due respect. maria: joining with the chairman of o'leary o'leary adventures. cavalierly. she can bailout or not bailout the wall street journal writes this week who's on first she is aimed both things. >> she's taken tremendous heat, a lot of confusion in the market for the way it manifests in a pragmatic level i'm a good example over 50 portfolio companies that are private
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equity side of the business. i had to go to every single ceo and asked them, give me the lay of the land on the free liquid assets mainly our cash, where is it, what amounts do you have and we don't know from what her comments or whether she's guaranteed about 250 that seems to be off the table worth the bank fails regardless of where it is that she will bailout and any cost with the size of each deposit, what we've done we said we don't know we have to live in the real world everyday, let's diversify. most of these, some of have a billion dollars in cash. that's a problem we have to go to the money center banks for that, we can't take the risk of sticking it in a first republic or any bank that we don't know its status should it fail because we don't really care. whether it's physical location those days are gone think it is electronic. confidence has been shaken this
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week we saw credit suisse getting fired by ubs, with some effort to assure a first republic and at the end of the week it was deutsche bank which was in the crosshairs by investors and it seems like treasury secretary janet yellen is modeling the rules we don't know what the rules are she going to assure about 250,000 are not and how many other banks are there that could fail, what is your take on the number of banks that could be problematic? >> i think the hazard and you kneeled on the head. when you have a bank with idiot management and i don't mean to be rude i'm just saying you look at silicon valley bank and a combination of idiot management aboard this unqualified to oversee our negligence or both in the san francisco fed just missed it. is it my fault, directed pay for that as a taxpayer, credit suisse you referenced has been a zombie bank for 14 years. the average penalty for the
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management team over the last decade is half a billion a year. if that isn't idiot management you had us if you put your money into that place finally credit suisse had to clean it up on their own but everybody knows that story, deutsche bank same issue. as a taxpayer the question is why do i have to bailout idiots over and over again, let them fail and let the market clean it up, it's okay if they go to 0. maria: that is true. that's what you don't want the banks to think that they could do anything that they want there to be bailed out at the end of the day. kevin what i'm trained understand is the impact of the string of non- interest-rate hikes by the federal reserve. this week the fed basically said were coming close to the end because of the stress around banks that was after saying we thought we would have to raise more than we expected. it takes a year for the lab.
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we had the one-year mark since the fed started raising interest rates we seen serious impact since interest-rate like housing and auto but what about the rest of the market as a corporate debt is rolling over and rates are to be much different than what they expected. >> no question the floating-rate aspect of the last 15 years most corporate debt in much of it in real estate has been on the floating-rate basis anticipated rate hike this quickly. there is could be pressure on margins across a wide range of sectors. the one that can have the most impact remarkably is going to be financial services. you think about new regulation that's going to come from a result of investigation on silicon bank and signature in the first republic they will not be good for margins for regional banks, they will not help them make money. the entire sector is under pressure. if you look at the stock prices they have been crushed and i
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don't see them coming back. a lot of impact going to the system. there is one interesting narrative emerging over the last week. i don't of you for this you. the idea regional banks because 50 years ago you had differentiation twin economies of places like california, massachusetts, florida farming et cetera you needed regional bank specific to those industries, today not so much, and her portfolio auditing all of banks doubled in this situation. they had taken out a loan with the bank called the bank of north dakota. i did not know there was a bank of north dakota, now i'm educated it was formed in 1919 the only sovereign bank in america per state. it oversees the regional banks inside and it does not compete, that system is the example of what every state should've done.
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the overseen state bank make sure the smaller ones don't fa fail. that i like. >> that's an interesting approach i was not aware of that. it's great to have you, thank you very much for weighing in. will watch next week at the gdp in pce will see if that is market movers as well, good to see you. >> take care. maria: tehran's aggression in syria raising alarm bells following the collapse of the iran nuclear deal the u.s. policy on foreign policy put to the test on multiple - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™?
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failing the united states of america it's increasing energy prices and putting our soldiers and sailors and airmen not risking a friend to israel and enormous peerless as a ring and moves down the path to a nuclear weapon program. we had it right and put real pressure on the regime and i'm told the president those of the things that america can do, israel will be our friend in our security partner, the gulf states will see that and they won't engage in hedging behavior with the chinese or the iranians america can get this right we can make the middle east more stable and prosperous and reduce risk at home the biden administration has a completely backwards. maria: you did do that in you travel the world doing it as your time is secretary of state not to mention what you've done with the cia as well but i want to get your take on this a administrations response it seems everything that happens, this administrations is the same thing were not looking for
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conflict. russia just downs whatever drones and we say were not looking for conflict. china sends a surveillance balloon traveling across the country and were not looking for conflict. the covid-19 no investigation into the one lab were not looking for conflict. now xi jinping is positioning himself as a powerbroker he's inviting the prime minister of spain to visit next week to discuss the ongoing war with ukraine. i find this troubling, now he's going into western europe as well to look like a powerbroker, he just returned from a three day summit with lottery put in and they ended with the two pledging to shape a new world order. what you make of the new world order? >> maria you just nailed it the more the president of the united states repeats were not looking for conflict the more conflict we're going to find. it will confine test this is deterrence one-on-one. when you say a minor incursion in afghanistan, into ukraine might be okay the russians
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notice when you flee afghanistan to get 13 americans killed the chinese communist party notices when you let the balloon travel for five days these guys watch how america responds. they will push and push until they meet steel and today the biden administration has shown all they talk about were afraid were to provoke someone. you provoke through weakness and i wish they would figure this out, until they figure this out the wheels are going to keep coming, really see whether the iranians and the north koreans are firing more missiles every day these are the kinds of things of the bad guys will put together and they put every american family at risk. maria: so disturbing i'm just wondering if this is also what's behind the constant investigating of your former partner, president trump. you have new york's district attorney alvin bragg investigating donald trump. were all waiting to see if a former president is going to get indicted. we understand the grand jury is
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going to reconvene next week. is this all about look over here not overhear the failings of this administration? >> i think the da bragg is a political hack. i think is prosecuting the claim that would be prosecuted in any other context but this one. the real risk is not about any individual. the real risk is to our democracy and the american people in our primary institution like prosecutors to just get right. when 70 riots, prosecute them. when sylvia classified information when they shouldn't, hold them accountable. all these things are things we should do regardless of party politics we can see in new york that is not happening today. this will further undermine and further erode the make and people's confidence in the rule of law basic understanding of how we proceed america, there's an awful lot of risk to our republic and we continue down this path. we saw the d.o.j. and fbi and we saw the russia hoax during our time.
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these are the things undermine the important institutions in america and none of us can let that happen. >> we need real leadership mr. secretary are you going to be announcing your presidency soon? >> were getting close to decision, my wife is working close to decision will make it in the next handful of weeks and then we will stay in this fight these are things that been working on my entire adult life we can stay at it you can rest assure. >> you been working on it your entire adult life and we've been watching your leadership. >> thank you, bless you. >> did you ever stress about us having three kids? no, that was always part of the plan. three kids?! this was never part of the plan! these kids order the lobster mac 'n cheese! what if she wants to play golf? we're going to have to outlaw golf. absolutely no golf in this house! not under my roof! since we started working with empower, all of our financial questions have been answered, so we don't have to worry. so you never- nope. always part of the plan.
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can expect to pay more for food as well with the price of beer and hot dogs up dramatically from last year that does not include the crackerjack but it's a fun time at the ballpark. i'll see you this week and on "sunday morning futures" on the fox news channel jointly lied and said what he teaches on 10:00 a.m. eastern extrusive interview with ron johnson, congresswoman anna paulina luna, alan dershowitz and acting attorney general matthew whitaker, jointly live on fox news, that will do it for us on fox business have a great rest of joining us and i'll see you again next time. ♪. gerry: hello, welcome to the "wall street journal at large". the speaker prosecution for donald trump is a looming indictment of the former president a grotesque injustice or a political gift to him or maybe both. with the manhattan district

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