but i'm going with ash. i think it is number two. stuart: i'm going with number one, 31,150. show me the reveal. oh, it is the last one. i deal in acreage, you would think i know that i don't. 43,560, a square piece of land that is 208 feet, 208 feet. >> we didn't look it up. stuart: first i heard of that one. mike, thanks for joining us for the hour even though you totally got that wrong with the rest of us. my time is up today, "coast to coast" is absolutely right now. neil: most americans for the time-being are not worried about a bank crisis. today neither are the markets. fox on top of what could come next a crucial hearing on capitol hill that might decide whether all bank depositors are protected like bad bank depositors. why montana republican senator steve daines says be careful what you wish for because you could end up paying for it. why crossmark chief investment

officer bob doll says this is the kind of stuff won't only determine banks futures but markets around the world as well. welcome, everybody, glad to have you, i'm neil cavuto. let's get right to it with bob doll. i have great respect for his views on the market. he was saying watch developments in the financial sector. we are. they seemed to cool down a little bit, bob. i wonder where you see things going from here? >> i think financials are good for a trade. i started buying them about a week ago, funding them with sales in technology. that has worked last couple days. i was a little early last week but i think we're out of the woods at least for now. i don't want to say all clear sign, neil, because you know

when the fed raises rates from zero to nearly five in a year, there are consequences. i think there are more consequences to come. maybe some bank issues. clearly a slowing economy. i still think a mild recession is in front of us. so it is nice to see green on the screen but i wouldn't bank own it forever. neil: obviously by hiking rates a quarter point at the latest meeting it is signaling maybe they're not going to do a lot more hiking the rest of the year. that seems to be consensus. always dangerous as you reminded me over the years. what if the data compels them to be a little bit more aggressive? how do you think, forget what happens, how do you think the markets would respond to that? >> first of all, five 1/2, 6% inflation, core and headline, that is not a victory. i know it is down from nine. five handle is better than a nine handle. we have a long way to go. i think the fed will be compelled to do something more at some point in time. i don't think the market would like it. as you point out, market saying maybe one more then cuts between now and end of the year. i don't see the cuts unless i'm

totally missing out on inflation. neil: part of the big debate in the banking hearing, there will be others down the road, how generous we allow the fdic to be. down the road there is sentiment we cannot allow a separate limitless, sort of fdic backstop for the depositors at bad banks and, if there are other banks that come along and are in need of the same support. so that is going to cost a great deal of money, whenever we get there i can't see it all translated into higher bank fees for banks. i mean it is passed along to us, isn't it? >> yes. i'm afraid you're right, neil. the authorities, that is the regulators, legislators would like not to have to deal with this. it is all about sentiment. if sentiment collapses which it almost did a couple weeks ago they will have no choice but to do that. otherwise we face a nasty recession, if not a depression. holding hands through this, trying to get through it makes

sense. you're right, the cost to banks, to bank customers and to taxpayers, somebody has got to pay for this. we're looking at each other. neil: have we avoided the threat of a contagion? is that off the table in your eyes or are we one step a way from a bank that comes out says uh-oh we have dough positters wondering that seemed to slow the move from smaller size banks to medium-sized banks, i wonder if we're past that storm? >> i think we're in a lull here and maybe we'll get through without contagion. look, we have to monitor very closely movements of deposits out of some of those banks that may have the liability asset mismatch that tripped up silicon valley bank. obviously the regulators around bankments are all over it having seen that collapse. so i'm hoping that with the passage of time, and some relief in the bond market as you know some of these problems can be

ameliorated. neil: i mean if you talk about how market rates have gone down, even as the fed, you know, controls the short-term rates, pushed them up, i'm wondering what you make of that? because the market in a weird sense if you look at it, bob, could arguably doing fed's work here. what do you think? >> i totally agree with that. i think, the bank problem, i will call it bank crisis, all that has come from that, has done at least 50 basis points worth of tightening for the fed. maybe 100. only time will tell. you're absolutely right. that bad outcome helped the fed in some ways. neil: i always learn a lot talking to you. thank you my friend. good seeing. >> you have a good day. neil: bob doll, crossmark chief investment officer. i want to go to chad pergram on capitol hill. they're trying to get the devil what happened to the banks and

stop future bedeviled banks and fdic support, bank guidance, chad pergram has been all over that. >> reporter: the question who is at fault what sparked the run on deposits. the fed's michael barr told the senate that silicon valley bank was a textbook case in mismanage ments. >> that exposure led the firm to be highly vulnerable to a shock very belatedly attempted to adjust its liquidity position and reported losses on its available for sale securities that eventually on thursday sparked a depositor run. >> reporter: there are questions why regulators failed to catch problems ahead of time but there was concern earlier this month that other banks could fail fueled by additional runs on banks. >> i think the evidence suggested from the sequential failures of first so con valley and then signature there, was

significant risk of contagion to other -- >> reporter: customers with drew $42 billion from svb in just a few hours. republicans contend high inflation brought on by the biden administration added to the bank failures but there were other problems too. >> i hope to learn how the federal reserve could know about such risky practices more than a year and failed to take definitive, corrective action. by all accounts our regulators appear to have been asleep at the wheel. >> reporter: there is big debate about raising the amount covered from the federal tee deposit insurance corporation. lawmakers are leery protecting everybody. the fed will issue report on bank collapses by may 1st. neil: thank you, chad pergram. steve forbes is here on this. we learned more about the

rescues and cash infusions one thing struck me of first citizens buying assets of silicon valley bank they actually got it at 16nal about dollar discount. much was spurred by regulators trying to make it enticing as possible. multiply that out number of institutions whatever the incentives who is paying for that? i know the bank is technically paying for it. the under over goes to us, right? >> ought shoely. less banking for people with lower deposits. banks are putting on fees, 25, $30 a month, fall below 10,000, 20,000-dollar minimum. you will see more of that. they're shackling the banking sector. what will fill that void? tony soprano or other good organizations make these loans -- neil: you have something against tony soprano? >> as long as he stays away from me we're fine. neil: they don't. that it is unintended expectation here, what you do

for one you've got to do for others. so i cannot imagine in a series of troubled banks if it were to happen, hope it doesn't, we'll do the exact same thing? >> yeah. that gets to the whole question though of how do you prevent the federal government from becoming defacto owners of banks. neil: right. >> signature bank, one of the things held against that, involved in bitcoin, cryptocurrencies which regulators they want to make clear they want to run out of business. they don't like oil and gas. if the banks had been in texas we know what would have happened there. there are other industries they don't like. have them picking winners and losers. you see that in europe. one thing that will roil banks in europe they created these bonds the banks could issue after 2008-2009 to shore up the equity. turns out the swiss pulled the plug on bonds shocked people, i think they broke the law, so do others wiped out banks and bonds credit suisse. neil: bondholders are supposed to move to the front of line.

in this case they're out of the line. >> the stockholders came before the bondholders which is bizarre. european banks which are not as strong as u.s. banks, you may get some brac swans emergeing there or more. neil: i will ask you what i was asking bob doll earlier, steve, this notion are we over the worst of it, what does your gut tell you? i'm talking about the banks. >> i think we're over the worst of it. you will get some casualties there. the thing to watch out what companies are going to worry about companies borrowed for low interest rates forever. countries are in trouble. one of the things already come out now how china is using this crisis to get their claws in countries around the world like turkey and others saying we'll lend you, we'll lend you great rates, give us your ports, infrastructure exthis like that. so i'm sure our state department as usual asleep at the switch what china is doing in the situation and imf which is

supposed to take care of countries in trouble often prescribe the worst things, raising taxes, debasing your currency, devaluations and the like. we have to get our act together on all fronts, financial and diplomatic because china is moving in on those countries in trouble. that means leverage against us. neil: the backstop for all of this, the background for it is the strength of the consumer. consumer sentiment survey showed unusual optimism about where they stand and where they're going. never mind their personal views on what valued today, patriotism, religion, all that is out the window i guess. when it comes to money, a top concern, they're far more resilient than we thought. we're seeing it on packed airplanes, packed resorts, packed restaurants. i'm wondering what is keeping this going? >> well you have certain sections of the economy are still holding up. there are still some savings left in terms of what happened. remember people have been locked down two, three years.

they just want to get out period for their own sanity. for one of the things i hope -- neil: you would think by now that would be kind of addressed. >> i think you will see less of that in the future especially after the summer where you want to let loose. one of the things that will happen after 2024 will we put in policies that get the economy moving? back in the 1980s, energy, depression, agriculture depression, a lot of commercial real es spate in a depression but the economy was doing well with pro-growth policies. with anti-growth policies which make these troublesome areas even worse. neil: i know your views on the federal reserve. they're well-known among those who follow you closely as do i. but the feeling seems to be that the fed now has room to just cool it for a while on interest rates, if move at all the remainder of the year. maybe one hike down the road. consensus is never right as you remind me, steve. >> yes. neil: but that is a building view here but it still has

inflation to address. it is still running at a 6% clip. they want to get it down to 2% clip. what do you think? >> in terms of raising interest rates which simply trashes the economy i hope they do back off. some are calling for that for the wrong reasons but i think trashing the economy is not to cure inflation. key thing stablizing the value of the dollar starting to fluctuate. neil: there is plenty of competition to take on the dollar, right? backing china to be alternative currency, right? >> yeah the dollar is still in a very strong position internationally pause of the strength of the u.s. economy and uses in international trade but if we continue to debase the dollar, continue to make it unreliable as it goes up and down like a yo-yo you will see alternatives rise up. not good for good economic growth in the future. so go back to the early '80s. we got it right there, mid '90s, early '90s, great moderation. greenspan looked at the gold price, looked at commodity

prices tried to have some stability and it worked. neil: it did work. steve, thank you very, very much. >> thank you. neil: meantime did you hear the whole controversy, matt taibbi, irs agent going to his door the very same day he was testifying about twitter. i think to myself, dreading a letter from the irs, a representative from the irs at your door. i guess they save on postage. man, what was going on there? ♪. do you ever worry we'll live forever? no, it's literally never crossed my mind. what if we live to like 100? that's 35 years of being retired. i don't want to outlive our money. and i have been eating all these stupid chia seeds! i could totally live to be 100! why do i keep taking such good care of my- since we started working with empower, we're able to get all our financial questions answered,

so we don't have to worry. so you never- no. never. join 17 million people and take control of your financial future to empower what's next. start today at empower.com

>> where are you going? >> that would be great. >> take your hat off,. >> excuse me. >> they don't sell hotdogs here. they took bleachers out two years ago. >> it is my hat. i will wear it when i want. ♪. >> how are you doing?

neil: you know what made that classic scene so great. he didn't have to say anything. tony soprano, would be a god idea if the hat were to go away. that is sort of like, unintended sort of pressure that is very much intended. like, oh, i don't know an irs agent showing up at your door instead of sending a letter. matt taibbi, his family did, getting ready to testify on capitol hill. odd the timing all of that. kelly o'grady the implications of that, what we're learning about that, kelly. >> reporter: timing is right. it has us all service with tax season. unannounced house call already raises eyebrows. irs says most contact is initiate the through the mail but on top of that the timing has questioning real motive. visit would have taken place on march 9th, strangely in the middle of taibbi's testimony on alleged government censorship n a letter to house chairman jim

jordan journalist says irs left a note called four days later. his 20178 and 2020 tax returns were rejected over identity concerns. taibbi says the filing was rejected for years ago. it was rejected twice despite his accountant using irs pin number. they claim the inquiry is not monetary. critics are demanding answers. chairman jim jordan sending a letter last night to irs commission whatever fell. calling instances incredible. that the irs's history as a tool of government abuse, the irs's action could be interpreted as an attempt to intimidate a witness before congress. taibbi tweeting this, i have don't want to comment on the irs issue pending an answer to chairman jill jordan's letter. i'm not worried for myself.

i felt the committee should be aware of situation. select subcommittee demand irs hand over all communication with the h regarding house visit. the deadline is june 10th. some say this is not example of free speech being targeted. neil: it is odd to your point, thank you very much. grade grade thank you very much. brandon arnold, national taxpayers executive vice president. that was their tony soprano moment, just showing up at the guy's door, ostensibly maybe we had some identity theft going on here. wonder what is going on. it is weird, isn't it? >> it is extremely weird and you look at it, not just the timing of the hearing and the visit from the irs, the fact it was unannounced visit those are fairly rare. you will usually get a letter, at least a phone call notifying that the irs is coming to your door and the fact they're looking at 2018 tax returns, usually irs tells you keep tax returns all receipted information for three years. that is the window which they

look at tax returns more scrutiny, run audits. we're looking back even further. the question is why? thankfully chairman jordan is looking into this matter because it raises so many questions. it is extremely fishy. especially at a time when the irs had this huge budget boost, $80 billion, it is getting more powerful and larger. neil: you know what i didn't know? maybe you can help me with this, an irs agent can go to your home and visit, in this case, oh, by the way about this thing you might have had identity theft going some years back. they can do that in a letter but, i have didn't know that their new powers include house visits? >> they do have the ability to make house visits. that was actually done in a more aggressive fashion before the taxpayer bill of rights was passed that reined in the irs abuse a little bit. they still do make house calls. again they typically proceed those house calls with announcement that usually comes in the u.s. mail. so you do get a head's up

they're coming. you know they're going to arrive in most circumstances. there are some criminal investigation and other reasons why that won't be the case though. neil: i'm ready for them, brandon. i have real tyrant of a britney span el. his bark makes up for his lack of bite. any irs agent dare steps on my doorstep, that won't end well. but that is a separate issue. let me ask you what we're learning about the refund front. refund are are a little bit smar than previous years. the reason people focus on this, that is the reason we see a lot of spending down the road. do you see that as an issue because, right now, the expectation was that we would have a lot more that americans could look forward to getting and we're not seeing it. >> we were a little spoiled during the pandemic years because we had the stimulus paints which some instances increased peoples tax refunds.

we also had a ramped up child tax credit. the child tax credit was $3,000. $3600 if you have younger children. that regressed back down to $2,000, set by the tax cuts and jobs act. for those reasons people are getting smaller refunds this is double-edged sword. we want people to have more money in their pocket, at a time inflation is still incredibly high, 6%, north of 6%, people spending refunds could help to ameliorate inflation a little bit. neil: that chart confused people. it is very accurate. i'm not here to second-guess it average refunds are $372 smaller than average expected this year. still early. we don't know how it will end up. neil saying one thing, showing another. let me get your sense about this added funding for the irs. on top of 80 billion that they have already been guaranteed as part of that last package, now they want what will be

essentially 15% boost in further funding presumably to go after tax cheats or maybe improve customer service. do we know how that money is going to be used? >> well we still don't have a full readout how they will spend the $80 billion they already got. they were supposed to do that weeks ago. the deadline passed, yellen said would be another few weeks. we still don't have those details. yet they're going to congress, requesting an additional 15% boost. now this news with mr. taibbi is very concerning because a lot of conservatives, myself included have said these enforcement actions will result in more in person visits, irs agents, other people knocking us on our doors, asking us questions. this looks like it is actual happening despite people on the left said we were even bonkers suggesting that might occur. i do think enforcement actions will increase. i think they will fill out our tax returns for us. that is incredibly concerning, that creates a huge conflict of

interest. we're looking at a ramped up supersized irs that doesn't stop growing. neil: good stuff, brandon. thank you, very good seeing you. brandon arnold following all of that we're following what is the 10th straight day of protests in france after you know, reining in the pensions became law there. remember emannuel macron forced this through. a lot of people say this might be good longer term to deal with growing entitlement costs in france but french are not liking it one bit, raising retirement age from to 64 from 62. a lot of people in france say no it won't happen. rail workers are not working at rails. garbage workers are not collecting garbage. this is a real mess. [shouting] and buying your starter home. or whatever this is. but the things that last a lifetime like happiness,

love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence.

♪. neil: all right, want to take you to france right now. is this live, melinda?

yes it is indeed live. look at this. this has gone on fore10 straight days. emanuel macron managed to fores through a measure that would combine a lot of state pensions in france, raise the retirement age from 62 to 64 over seven years. on paper it doesn't sound extremely generous but it is what it is. the french don't like it. the economy there has just been ground to a halt because garbage collectors are not collecting garbage. you don't see a lot of other public activity, libraries we're told, by and large closed or if you want to check out a book you're on your own. i don't know all the full details. it was enough for king charles not to visit, what would have been his first real foreign visit. that is not happening now. emannuel macron suggested this is not the best of times. maybe not the best of times for emannuel macron himself. get the read on all of this douglas murray, fox news contributor, war on the west,

how to prevail in the age of unreason. maybe we don't know how that could have applied to what is going on in france right now. douglas, great to see you. >> great to be back. neil: are you surprised, this is running 10 days running, nothing to say all the days and weeks running? >> this is the least surprising story at the moment. french pension reforms is always a huge issue in france. consecutive french presidents stumbled on this issue. worth remembering what the context is. this is talking about raising the retirement age from 62 to 64. average life expect tan at this in france is 82 thereabouts. higher than the united states. neil: is it really? with all of that cream sauerss everything? >> with all of that. everyone knows if you have average retirement of 20 years, you're going to have to have worked hard to have built up that pension pot and consecutive french presidents says it

doesn't exist in state pensions and others. 15 years ago nicholas sarkozy tried to raise retirement age. there were scenes not dissimilar to scenes like this in paris, french cities after 2000. after sarkozy a left-wing prime minister was elected. olan, he reversed, slowed down the pension reforms sarkozy had. this is typical thing in french politics. time incremental shift is made raising retirement age what i regard as realistic level, and as always, a certain number of french protesters take to the streets and produce the kind of scenes we see. neil: it held up despite the attempt to sort of get other parties together to take it down. it didn't but i still read in the english version of lemond, emannuel macron might not be long for this world as leader. he seems to survive it or risk

toppling? >> he is in trouble for this. i'm not sure it is toppling territory yet. it is not clear what alternative to macron would be. macron came to power broke the party system. he came right through the middle. didn't have a party when he won presidency, that's right. >> the french left and french right are completely broken. they're utterly splintered. so there is no kind of clear alternative to macron. i think we're seeing something here historical terms very familiar, not just pension reforms, but actually under each iteration of the french republic. historian of france once said french can be relied on always to vote for revolution and then resist all change, and that is exactly what we are seeing. voting for emannuel macron twice, the french public voted for revolution in french politics, complete change.

neil: when he was running earlier didn't he, prior effort had failed, he kind of tabled this. it sounded like he wasn't going toe pursue it again or at least to the degree he did. aren't a lot of people angry at him? you son of a, whatever? >> in power he has realized what all european leaders have to reckon with, the extraordinary welfare spending compared to the amount of global gdp europe produces. when she was chancellor of germany for almost 15 years angela merkel, this is 10 years now, angela merkel once said to the ft, a question nobody addressed since, she said if we in europe produce 12 1/2% of world's population, accountable for 25% of global gdp as it were then, 50% of global welfare spending, it's clear something is going to have to change to allow us the lifestyle we are used to. neil: france's numbers are out

of whack with that, rest of europe? >> exactly. this was a question merkel threw out more than a decade ago now. neil: we never see -- >> nobody addresses it. neil: tough time, proverbial third rail of politics. >> absolutely. neil: both parties are burned pursuing it. in this country, tip o'neill, democratic speak of the house, working with ronald reagan, republican president, they didn't guaranteed extended shelf life for social security. it is possible. >> it is possible and has to be possible. french economy when you make even minuscule reform of pensions, you have scenes like this. the president has to give in. it is crucial. neil: i how do you think it will end up? >> macron giving some suggestion he is compromising but he can't go back very far. neil: checks for ununion workers. that would negate what he is

doing for this. >> exactly. he can't roll back very far. the french economy could be going incredibly well. we see scenes like this. this is the norm. neil: amazing, they are non-stop with this. douglas murray, thank you very, very much. we're following all of this. it is crazy but it is what it is. a lot of people saying that could be a preview of coming attractions here. there is even no attempt of change there. say what you will of emannuel macron he forced through something we're not even attempting something like that here. steve daines of montana will join us. there is a push in this country to try to say to the banks, generous packages we allowed, fdic backstops, to say no matter what you have in the bank we'll protect you underwater. he is saying this is very slippery slope. be careful. he is next. ♪.

the future is here. we've been creating it for more than 100 years, putting the most advanced technology into people's hands. generation after generation. tool after tool. again and again. bringing you the broadest and most reliable network of service dealers. always moving forward. we lead. others follow. ♪ ♪ luxury exemplified. innovation electrified. with apple music seamlessly integrated.

the all-new, all-electric eqs suv from mercedes-benz. see your dealer for exceptional offers on mercedes-benz electric vehicles.

the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

♪ neil: what is that old line, be careful what you wishing for, you might get it? there is new sort of a push to improve, extend, really add to the regulations on banks. as you know by now there are a lot of regulations on them but the issue becomes whether they're good at following them, or regulators themselves are good at policing them. senator steve daines of montana joins us, sits on senate finance committee, senate banking committee. kind enough to be with us. senator, always good seeing you. you're concerned about, you know, good intentions here, right, including extending fdic protection, limitless protection to depositors everywhere, right? >> well, neil, i just came from the banking hearing. we have had basically one of the top regulators of the fed who was before the bank committee.

we were pressing him around what happened at silicon valley bank. why did the bank fail? you think about banking, banking is about managing risk. it is true if a bank make as loan. it is also true in terms of bank management, regulators looking at assets and vulnerabilities. remember back in the first quarter of 2021, the democrats on a purely partisan vote here, passed a $1.9 trillion spending package, opposed by every republican, supported by every democrat, signed by president biden that would add inflationary pressure to the economy. lawrence summers said that clearly, clinton's former secretary of treasury made that clear. he was warning democrats don't do this. it creates inflation. we have 40-year high inflation. we have federal reserve making significant moves upward in interest rates. what happens? it creates great risk for these banks. they have got to manage that much more effectively. i will tell you if you look what happened in san francisco, the

san francisco regulators were focused on climate change. in fact we went right to their website. they said what is top of mind for our work in the 12th district, that is the san francisco district, this is october of last year. it said financial risks from climate change. they were asleep at the wheel. you compare that to the richmond district, that is the fifth district of the federal reserve. they said rising rates and interest rates need to be focused on in terms of risk management. what you had hear, a woke san francisco group of regulators working with woke corporate executives at the silicon valley bank. this was the perfect storm to take their eye off the ball of the real risk which was rising interest rates, decrease in bond values, and liquidity challenges. neil: you know the one thing you do learn even before the whole woke thing though, senator, how often regulators missed some of

the chicanery right beneath their noses. it is legendary the years they were unaware of bernie madoff's abuses and sec again and again was warned repeatedly about those abuses, not looking at even charges and revelations coming to light, over as i say, over a course of years. there were the mortgage derivatives popular among institutions that early regulations strictly forbid at the time but were being ignored. then portfolio insurance, something that brought on the '87 cash. with each and every occurrence we've had more regulations slapped on and to little avail. you know they say that history doesn't repeat itself but it sure does rhyme and there are new rhymes, new crises. i'm wondering what the answer is? apparently to janet yellen potentially answer could be a remedy, costly one, to provide

liltless fdic protection to all depositors. what do you think of that? >> first you have to go back to see what actually happened, develop the timeline, get the facts. it is analogous to a plane crash investigation where the ntsb goes in, develops a timeline. decisions are made. look what exactly caused the collapse of that bank. let's get the facts first. the liberals always jump toward bigger government, more regulations. i have not seen any evidence to suggest that is one of the solutions. we need to hold the executives accountable at silicon valley bank. we need to hold the regulators accountable for not regulating basic what is is already in place. if you take a look where they were focused, they were focused on climate change being the biggest risk. it is right there in the october memo they published last year. the biggest risk other regulators identified in other parts of our country, said it is about rising interest rates. i'm not a banker neil, but that

is pretty basic. i think you will see massive negligence and failures of executives at silicon valley bank and regulators in the san francisco district. focus on that before a knee-jerk reactions coming out of washington d.c. neil: i don't know a lot about the woke stuff. whether that was a catalyst for this. i do know that you can't control all of a sudden an exodus of investors when you were buying bonds at their height, trying to get rid of them at their lows. i don't know whether anything can be addressed on that front but it does make you fear that contagion is always possible. do you think one is still coming? >> well you know, you hope and pray that is not the case. i think this got the attention of everybody. banks are reexamining their portfolios as they should but i tell you, we were questioning secretary yellen of this last year about the priorities that were going on in treasury and the fed. they had this myopic focus on

climate change as the biggest risk. look, neil, when we were having that debate california was under a massive drought. they now have 50 feet of snow across much of california. so guess what, neil? there was climate change. suddenly it started to snow and rain again and it is going to heal up the drought in california nicely the natural cycles produce that. neil: you make sure the fix doesn't put you in a bigger fix. senator, thank you. >> thanks, neil. neil: we're 12 minutes away from the big money show. taylor riggs with what is coming up. taylor: arkansas governor all over the border crisis, the fentanyl crisis, all at 1:00. i have a good one for you, does knowing your fellow workers salary motivate you and fire you up? we'll have a debate coming up at 1:00 oak on. more "coast to coast" next.

♪ ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (woman 1) i just switched to verizon business unlimited. it's just right for my little business. unlimited premium data. unlimited hotspot data. (woman 2) you know it's from the most reliable 5g network in america? (vo) when it comes to your business, not all bars are created equal. so switch to verizon business unlimited today.

everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network. only from xfinity. the future starts now. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network, with no line activation fees or term contracts...

saving you up to 75% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities™. these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today. ♪. neil: all right, you know this might be the equivalent of at&t breaking itself into the seven baby bells. remember that in the early 1980s? the argument for breaking up at&t at the time it would be

worth so much more in pieces than it would be as a whole. for a while that was very much the case. alibaba, the big, you know, high-tech chinese conglomerate wants to sort of spin off into six different little conglomerates if you will, six different units, each exploring their own initial public offerings. one of with jack ma coming back from japan, self-imposed time to think about where he is going in the world, where china is going in the world. he has been welcomed back as the returning, the saving son and this is getting a good deal of attention with alibaba stock up about 13% as we speak. gordon chang, "the coming collapse of china, what he makes this, the great u.s.-china tech war. i want to allowed to that. if you think about it, gordon, what jack march -- ma is saying the piece of my company is worth more than the whole. he is not the first ceo to envision that.

he is among the first to do something like this, so many chopped up pieces but what do you think? >> well, certainly jack ma would be right if he were saying that. i think though this is xi xinping, the chinese ruler saying alibaba has gotten too big, jack ma has got too powerful and what we're going to do is break up alibaba. remember he has gone after jack ma with ant group, because it was too big, too powerful. neil: that's right. >> i think essentially you will see tencent or some other companies also go under this breakup process but you know you're absolutely right, these companies are worth a lot more in pieces than they are together. neil: i have always had a tough time of wrestling with the notion of china trying to put its thumb on commerce. these are the guys who make china an international lure, right? if you police them to the degree, i have no idea whether the breakup will do what jack ma hopes it will do, to your point what the government thinks it will do. he is very successful what he

did, what he founded, everything else. there are many like him there, but not too many. i would imagine that the government's hands on role is still a bit oppressive? >> well, yes. and you know, jack ma coming back, people saying that is an opening up again. you know china's gone through these periods of regression and liberalization and opening and closing but right now these cycles are becoming shorter and the general trend is towards closing up because we got to remember that while jack ma is running around china, at least a free person, we've got fon, at least a important figure as he is, china renaissance financeer to tech companies, he has been disappeared since the middle of february. neil: meanwhile very, very quickly, tim cook is quickly making overtures, some would say trying to keep china on his good side, what do you think of that. >> tim cook will say whatever beijing wants him to say and

what timothies will work. clearly they're going after apple, they're going after tesla and other companies and tim cook understands that he needs to say those right things. neil: are there a lot of ceos in this country just like him and just not as obvious? >> well, i think that the ceos in this country are reacting more to the market. in china the ceos, foreign and domestic, are reacting to xi xinping. so it's different scenario. neil: got it. gordon, thank you very much. we'll watch this one closely. alibaba planning to split itself six units, six different companies. picture of chinese baby bells with breakup of at&t. can you believe that is 40 years ago? i'm old enough to remember covering it. yikes! more after this ogs, 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 justin baker: across the globe, the vast majority of children with cancer will die. those children deserve so much better. the thing we are called to do is to make sure that those children are surrounded by people who know how to provide the very best care possible.

century lithium is advancing their clayton valley project towards production, with the goal of becoming a domestic lithium producer for the growing electric vehicle market. nevada's lithium is the key to america's green future. century lithium

all right, sir toipght take you paris again protest continues 10th straight day they don't like the idea of having to be retiring at 64 and 7 rather than 62 right now, and no matter how long this it drags on, it continues to get heated. we're on it taylor riggs on "the big money show." >> it is pushing 67 right -- >> ridiculous i can't figure it out but it is what it is. a mess. taylor: there you go i'm taylor riggs. >> i'm brian brenberg. >> and i'm jackie deangelis welcome to the big money show.