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maria: welcome back. good thursday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is thursday, january 16, 7:00 a.m. on the button on the east coast. time for the word on wall street, top investors watching your money. joining me is rmv menden financial services manager, anton shutz. also with me is mark tepper. i want to get your take on bank of america, reporting a double beat, saying investment bankers capitalized on a resurgence. morgan stanley is coming out later this hour. you say it's all about buybacks. last year was a huge year for buybacks, also increased dividends for the major banks

and m&a for regional bank. what do you make of the b of a quarter? what strikes you? >> it had a high bar to beat and it jumped across the bar. it's up again premarket. if you think about the entire space, credit is not the issue everybody was afraid of. it hasn't happened. most people forecast 2,000 banks to failed. we had none that failed. i think there's animal spirits out here. at the end of the day for all the banks, the net interest income was better than expected. the margin was better and that panic over deposits that happened after silicon valley is over. banks are well funded. what they're really waiting for next is loan growth. if loan growth doesn't materialize, they've got lots of capital, they're going to buy back a lot of stock, a lot of the regulations will be eased and smaller banks will be really engaged in a lot of mergers so the whole space is cheaper than the s&p 500, historical lows, and i think there's a lot of upside across the entire space, particularly in the smaller

names. maria: i know you liked b of a for a long time. where does the growth come from at b of a now? >> i mean, i think it comes from increased deal activity for sure. right. there's animal spirits out there, there's less regulation. you've got merger activity happening across all industries and capital raising will be there too once the rules are set. on the 20th of january the rules change. right. and what are the rules? what will tariffs look like? will there be the stimulation on the energy industry? will there be lots of pipe spills and transportation built to move oil? that's going to be an area of focus here. companies will merge. merciecas will be -- mergers will be improved. there's not the anti-growth rules anymore. the bank will be busy. they'll be issuing equity and debt. i do expect rates will end up being lower. i think inflation will come

down. particularly energy prices will come down as we produce more energy and our own energy, those prices will come down and that's a big factor in inflation. maria: that certainly is a priority of the incoming trump administration. and i guess mark, one of the issues here is that these companies have been under the weight of rules and regulations from the biden administration. the administration's rolling out new restrictions right now for chip makers, they're required to obtain licenses for transactions unless chipper form man's nails below a, quote, -- performance falls below a tech, technical threshold. i like the idea that biden and company appear to be coming a little tough on china but why did it take them so long, is that correct. mark?>> we have to protect our . interest. we want to be the world leader in a.i. we don't want china to have the same technology but at the same point in time when you start restricting the sale of these chips and it's not just china, it's 120 countries where we're

restricting the sale of our chips to, that presents a problem. i mean, jensen huang of nvidia said it's completely misguided and when this happens, when you start to hurt the nvidias of the world and their revenues that's going to hurt their profits, that's going to hurt their ability to continue to i innova, invest in r&d, so we can continue to be the world's frontrunner as relates to a.i. but this is nothing new out tough biden administration. the last month has been a complete disaster. take for example the fact that for three years and 11 months president biden didn't care about imposing sanctions on russian oil. all of a sudden he does because he understands that now high gas prices as a result of that will be president trump's problem. so it just seems like he's in total saboteur mode right now and trying to make life even more difficult for president trump as he enters office. maria: i wonder what goes on with tiktok.

tiktok's u.s. operation coughs be valued between 40 and $50 billion if bytedance decides to sell. president-elect trump is considering an executive order that suspends congress' ban on tiktok for 60 to 90 days, mark. your thoughts. >> this is important. we've come together as a country over the trump dance and the only way you learn the trump dance is on tiktok. you've got to keep it for that reason. but look, obviously president trump utilized tiktok and he was very successful utilizing that platform to help to win the election. much more impactful than kamala's, what she did on tiktok. we need to dccp tiktok and i don't know exactly how do that. i don't know if it's kevin o'leary and his group of investors. i heard maybe elon musk is in the mix. i also heard of this potential side step that tiktok could take. i don't know how well it would go over but they would essentially spin off the

170 million u.s. users, they would change the platform, change the name, basically mirror image app but they would rebrand it and maybe that is a way to dccp it. i don't know. but i think best case scenario you want to dccp it and keep it. if not, meta would benefit and alphabet would youtube shorts would benefit so those are kind of the two alternative plays here. maria: we'll hear news on this soon. the ban takes effect sunday. anton, great to see you. thank you so much. great word on wall street, thank you. we are just getting started this hour. quick break and then president biden an trump seeking credit for did cease fire deal in the middle east. what the new fox news polls are telling us about popularity for the presidents the other side of the break. don't miss that. you're watching "mornings with maria" live on fox business. we'll be right back. ♪

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maria: welcome back. time for the hot topic of the hour. president-elect trump is the most popular he's ever been according to new fox news polls while president biden sees his worst approval rating with four days left in the white house. trump is at 50% favor ability rating, biden's approval rating dropped to 40% favor ability versus 59% unfavorable. trump's approval is up 8 points since first entering the white house in january of 2017, 52% of registered voters say they approve of trump's handling of the presidental transition. 37% approved of the first transition. 54% of voters call trump's victory a rejection of biden and harris. a lot of numbers to parse here, your reaction. >> i don't think this is surprising when you're out and

talking to voters and talk to people, you get the sense that there's this renewed support for donald trump that is bigger and greater than it ever was before and just anecdotally, people who are asking are you going to the inauguration or more excited and open about their support for donald trump, i think it's really, really interesting that they also talk about how this was not just a vote for trump but against the biden administration and against democrats policy right now. this is a moment i think not just for donald trump but for republicans to win back the hearts and minds of americans. we're seeing that the republican party is growing. we're seeing that it is more popular than it ever has been or not ever has been but than it has been in a long time and they're the party that is seen as the party of every man, of the fighters, of the people who are going to come and make change that's going to benefit the people, not the party of elite. there's all kinds of polling on that as well. i think it's a very exciting moment and i think donald trump

is going in to office on monday from a position of strength. maria: and i know a lot of people are applauding his decision to go to california. he's got go to california. this is a big opportunity for him to take the lead and show leadership in this awful situation. president biden meanwhile giving his farewell speech from the oval office last night. one of the first thinks highlighted was the hamas cease fire deal. he took credit for all of it. watch. >> after eight months of nonstop negotiation, my administration, by my administration, the cease fire and hostage deal has been reached by israel and hamas. the elements of which i laid out in great detail in may of this year. this plan was developed and negotiated by my team and will be largely i'm employmented by the income -- implemented by the incoming administration. that's why i told my team to keep the incoming administration fully informed because that's how it should be, working together as americans.

maria: biden making this remark about what he thinks the real threat to the country is. watch this. >> i want to warn the country of some things that give me great concern. today an of oligarchy is taking shape in america that threatens our democracy. americans are buried under an avalanche of misinformation and didisinformation, enabling the abuse of power. the free press is crumbling. social media is giving up on fact checking. maria: wealth and disinformation are our biggest threats to the economy and our biggest threats for our civilization, not communist china, not terrorists. i mean, the disinformation, the misinformation was led by him by the way, mark, okay. he and his administration is the ones who told social media what to do and censoring americans' speech. >> and pot calling the kettle

black. you're worried about oligarchs and all that stuff. you give the presidential medal of freedom to soros? you're worried about billionaires running the country. maria: that's pretty funny. >> pretty wild. maria: he's worried about welt? why can't americans be wealthy? why can't we have aspirations ofofbeing wealthy. >> it raises everyone's standard of living. whatting thing we've seen over biden international space biden's term in office is a deterioration in quality of life. wages are up only 16%. when president trump was in office, real wages were up about 9% while he was in there so look, we have to -- we need to see wage growth exceed prices. that's one of the reasons that biden's been such a failure. maria: i love the way janet yellen is warning that we better not extend the tax cuts because it's going to add to the deficit, no mention of all of the forgiveness of student loan

debt. >> tax receipts are an all time high despite the fact tax rates are lower. isn't that weird. >> so weird. thank the lord that monday's coming. >> biden's farewell address was so disappointing. he was so negative. that's why trump is more popular than ever. trump is rewarded for transparency, celebrating the successes of people like elon musk. he's giving press conferences, nearly every day, talking to the people answering questions by the press, and so i think that it's giving americans who voted against biden, not for trump, even more confidence in what a trump presidency is going to look like and it's making them feel more positive about where we're going at a country. maria: look at the bold ideas from trump and he hasn't even gotten in office. the external revenue service, gulf of america instead of gulf of mexico, looking at greenland, looking at the panama canal to try to stop china from dominating. these are real issues. >> president trump takes action

and gets things done. in biden's speech, he took responsibility for the deal between israel and hamas. let's assume for a second the biden team was the architect of that deal. maria: and they were. >> it didn't get done until the home builder came and actually built the house. maria: yeah. >> you bring in the muscle. it took one meeting with trump's team for that house to be built off of biden's architectural plans so let's be honest. biden and his team, maybe they could draft up some plans, some of them not good at all, some of them very bad, but they never could get anything valuable done for the country. maria: let's not forget how goa and the democrats try -- joe biden and the democrats tried to sway the israelis how to deal with this. they kept saying stop the fighting, don't go into rafah. when they had big wins they found the terrorists in rafah. >> interestingly enough, netanyahu gave credit to trump for this deal, by the way. maria: netanyahu did. and so did the state department. look, i agree, president biden

did write or his team did write the architecture of the deal. it wasn't until president trump said all hell will break loose and all hell will pay if the hostages are not released before i step into office. >> i think it was wise what we heard. he created the urgency that made this happen. joe biden said he wanted this to happen, he worked on the details, he created no urgency. there was no threat. the rest of the world fears donald trump. it's going to restore our standing in the world. when you look at people, how hopeful they are about foreign policy under donald trump, the polling is huge. it's not just 50% approval rate, gets much higher when talking about foreign policy, talking about the economy, when you're talking about immigration. these issues are really important to the american people. he will get the credit for this at the end of the day. joe biden has had a year. it didn't happen. he can get credit for trying. the end of the day, urgency happened in the last week. >> the results.

maria: the biden administration has been appeasing iran, enabling them to generate billions of dollars and then use that money for proxies. that's what they did when ignoring the sanctions. >> results matter. we know that trump led with peace through strength as president, none of this would have happened if trump was still president during that time. although i am very hopeful of a new trump administration. i think he is the most prepared president that we have ever seen in many generations because of all the work that has been done over the last four years and the comparison that the rest of the world and americans have seen between biden and trump, people are waiting for that peace through strength to return and the middle east is fearful of a trump presidency and that's why it's getting done now, that's why it's getting done right before trump takes over, his administration on monday and we're looking forward to peace in the middle east during the trump administration. maria: the democrats are also fearful of a trump administration. they know he's coming into this a second time much more informed

about what to expect and he's got the support of global leaders, of domestic leaders, corporate america, individuals, and it does appear knows where the land mines are. >> he had four years to debrief internally on what he could have done better in his first term and obviously we're seeing right now he's making some substantial changes and he's ready to come in and take action on day one, super excited about it. maria: for sure. quick break and then treasury secretary janet yellen is warning not to extend the trump tax cuts, even as a new study shows american jobs are at risk if those tax cuts expire. texas congressman, house small business committee chairman roger williams is here with more on that. you're watching "mornings with maria" live on fox business. stay with us. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me?

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>> new treasury analysis estimates that extending these provisions and reversing additional business razors that were enacted in the tcga which some have called for would cost more than $5 trillion through 2035. such policies could undermine our country's strength from the resilience of the treasury market to the value of the

dollar even provoking a debt crisis in the future. such misguiding economic policy making would not just affect the economy of the next few years or the next decade, rather, the burden would fall heavily on the next generation saddling them with high tax rates and reduced services much treasury secretary janet yellen warning against republicans' plans to extend the trump tax cuts but a new study from the national association of manufacturers shows nearly 6 million american jobs are at stake if the tax cuts expire. it estimates the u.s. economy could face $540 billion in lost wages, $1 trillion in gdp short physical. joining us now is texas congressman roger williams, member of the house financial services committee. good to see you this morning. thank you for being here. janet yellen conveniently left out the fact that joe biden has been forgiving all of the student loan debt and of course

has to have been adding to the deficit but she doesn't want those tax cuts extended for the average person out there. give us your sense of what the impact would be on small business. >> well, first of all, small business is excited about what's going to happen. you need to cut taxes. when you c cut taxes, you create more taxpayers, create more cash flow and create opportunities and more employers and employees. the tax kits are needed. janet yellen everything she said was going to happen happened under their watch and doesn't work. we need to cut tax, cut regulation, let small business breathe again where you can start a business, take risks and get rewards like we used to. maria: the house freedom caucus is floating a corporate tax hikes on many companies in exchange for easing the salt tax deduction for individuals and families. we know this has been a major topic for you and your colleagues. will you put an increase to the

cap on state and local taxes in your upcoming reconciliation plans? fox news digital reporter elizabeth elkine reports the caucus will drop a two track reconciliation proposal today which includes $4 trillion, two year debt limit increase, and steep spending cuts. your reaction and where do you think this is going, sir? >> we had the debate over one beautiful bill or two beautiful bills. i'm fine either way as far as we make sure we have tax cuts in there. you talk about the salt and eastern states want the salt and where i come in in texas they don't think we should be paying for other people's high taxes so we have that debate going on but we have to -- it's important we get out fast and give president trump an opportunity to do what he says he would do. that's why i propose -- support having tax cuts immediately because people will see in main street, they'll see their check bigger, more money in their pocket, they'll see more opportunity and when they see that you expand your business,

you take risks and you attempt to get reward, realize the american dream. we'll see what happens. we're going to have the debate today. we'll see what comes out. we need to act very soon to get president trump an opportunity to get out what he said he would. maria: mike lawler had a bill to lift this cap which is currently $10,000 all the way up to $100,000. and then he met with trump over the weekend last weekend and he sort of talked about a number closer to 60,000. i wonder what your take is in terms of where that should be. here's mike lawler, new york congressman with me over the weekend. watch. >> here's the reality. if we don't pass a tax bill, the cap on salt expires completely and we go back to unlimited. the problem is that it would be associated with the largest tax increase in american history, the rates would go up, the alternative minimum tax would come back. so there's reason for all of us to negotiate in good faith. the fact is that if you lift it to, say, $60,000 for an

individual, it covers most everybody. so we're working through this. maria: the cap is 10,000 right now. what's your number? what does your gut say? >> look, i introduced legislation to lift it to 100,000 for individuals, 200,000 for married couples. we will work through this negotiation with the president, with our leadership, and come up with a number that works as part of the overall tax bill. maria: what do you think, congressman? what should the number be? >> em not really sure but i think if there's going to be a number i wouldn't be surprised if they said it was somewhere in the middle, the number 60 was mentioned. i'm not sure. i'm telling you, we've got to make sure we come up with a solution on this and get this tax bill and get the border bill and get everything out so we can show the people that we can react quickly and we're ready to get it done. maria: what about the border? southern border communities are regaining a sense of normalcy we're told ahead of the trump

inaugeration, kenny county sheriff told fox news digital the pend limb has gone from total k chaosing back to where it's more peaceful and everybody's a little more relaxed. you have a bill to reinstate trump's remain in mexico policy. tell me about that. do you think that's part of the president's executive orders. he said he will have 100 executive orders on day one, monday. >> the stay in mexico policy is pretty simple. you're familiar with it. we know it works. it says if you're going to try to get over here illegally we're going to keep you in mexico, we'll give you due process and a court date but you're not going to come over here and expect you to come back. that's what the biden administration is doing. that's one reason we've got 20 million people in here we don't know who they are. they can get a court date in the united states. we expect them to come back. they never came back. 5% is what i heard. they're behind up to eight, nine, 1 10 years.

it's a disaster. we will introduce this thing and we want it to be law because the stay in mexico policy is something everybody understands. maria: can president trump do much of that through executive order. you need to agree on a number for the border as well. and what is that? is that $150 billion in terms of covering the deportations and housing the migrants before sending them back? is there a debate about that right now? >> well, there is. i mean, one side will say if you try deport all these people it's going to cost all this money but what costs money is having people here illegally that are stretching you out in your hospitals, your schools and your law enforcement and crime and so you can't even put a price on that so look, people have got to be returned, if they want to come in the united states they've got to do it legally, come through the ports of entry and they can realize the american dream but don't try to stampede across here and break the laws.

we are a land of law. maria: we need to remind them, you're right. good to see you this morning, thank you, sir. roger williams joining us. stay with us. we've got morgan stanley earnings coming up. you're watching "mornings with maria" live on fox business and we'll be right back. ♪

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maria: welcome back. morgan stanley earnings are out. let's get to cheryl with the numbers. >> investment banking again a strong double beat for morgan stanley, the company coming in 222 on earnings per share, street was looking for $1.70. this is well above a 100% profit jump year over year for this

bank. it was the wealth management business. fees for the bank jumping 25%. 7.336 7.36 billion coming in one wealth management business, the core of morgan stanley's business, equities trading, fixed income trading, both strong numbers, 7.9 trillion in assets. provision for credit losses, 115 million, the market recovery, we're waiting on the forecast, that may come up in the call. at this point another strong bank earnings report to send over to you. maria: and we've seen deals start to pick up at the end of last year but the expectation is that that's going to continue throughout '25 which of course is also a positive for these stocks. morgan stanley shares up almost 2%. thanks, cheryl. los angeles firefighters making more progress to contain the flames as the dangerous santa ana winds are easing. the region not out of the woods

yet. three fires bigger than 300 acres are still burning as they approach containment. at least 25 people are confirmed dead. more than two dozen remain missing. police arrested at least 58 people for crimes including looting and curfew violations. more than 12,000 structures have been destroyed by these flames and a new fox news investigation finds a budget cut made by mayor karen bass may have directly impacted firefighters ability to fight the flames. joining me is syndicated radio talk show host, gi gubernatorial candidate, larry elder. give us your reaction to what's taken place in your home state. >> i suppose in a tragedy like this it's never a good time to say i told you so, but i told you so. i wrote a book about how mismanaged california is. the priorities are whacky. we've not done the forest thinning we should be doing.

the previous governor jerry brown left a plan to clear 500,000 acres of forestry. gavin knew some says he cleared 90,000 acres. he lied by a foo factor of eigh. our water infrastructure is set to help 20 million people. the voters in 2014 go and pass a bond measure called proposition one to spend $7 billion for water infrastructure. virtually nothing has been done. we have plenty of time to do things like setting up panels for reb reparations we spent $20 billion on illegal aliens alone. maria: it's true, and i wonder why the policies have been such to actually enable these wildfires to get worse. i spoke with devin nunes sunday, a long-time california congressman who entered politics

because of his knowledge of farming. here's what he said. watch. >> it's pretty simple. it's water. it's grazing. it's logging. those industries have all been hampered. if you look at agriculture, we're down in land that's being farmed because of lack of water. this means when farms don't get water, guess what, the la basin also doesn't get water. as you're building out and adding people and add homes in the los angeles basin, if you don't have an adequate abundant water supply and you're rationing water, the people building the homes, the city planners are not putting in green areas, they're not building fire breaks. if you run the farmers and ranchers out of the state of california, you don't have the animals to sit there and graze. so a combination of the proper land management would solve all of this problem. now, what's going to happen? they're going to -- just like they've done for the last 20 years, california is going to run to the federal government and they're going to ask for

money. and i think this time hopefully i think president trump and the republicans in congress will say look, we're just not going to keep doing the same thing again so california is going to need a lot of money. maria: what about that, larry? what do you say the fires could have been preventable by? i mean, devin nunes is talking about those three issues, farming, grazing, logging and water. >> he's right. and those industries have all been chased out by the environmentalists, environmentalists have stopped any kind of water project and look, this is very important to establish this. this cannot be put at the feet of republicans. a republican has not held office in call important ya statewide -- california statewide in 20 years. the members of the los angeles city council, every one of them is a democrat. democrats control the state senate. the last republican mayor in los angeles left in 2001. this is a one party state.

they ought to look in the mirror and the voters ought to look in the mirror and rethink their assumptions. maria: karen bass is facing backlash for taking the trip to guana as the wildfire crisis was occurring. she was said to be at an embassy cocktail party as the fires were erupting. she told the new york times in 2021 she would not travel abroad. recall campaigns for her and governor gavin newsom have launched, larry. your thoughts on these two politically. >> well, i think at least if there's a silver lining and it's kind of a hard thing to say to the 12,000 buildings that have been lost, 300,000 people evacuated, 25 people died, gavin newsom's chances of getting the nomination are probably dead in the water. karen bass cut $20 million from the firefighter budget.

there was a leaked memo that said she wanted to cut an additional 43 million from the budget. the left wants to change climate change. it didn't cause the fire hydrants to run dry, it didn't cause the reservoir in the pacific p palisades to be bone y because of a tear in the tarp, it didn't cause the man power shortages, a couple hundred firefighters were let go because they refused to take the vaccine. when the mandate was lifted not all of them came back. it is at the hands of mismanagement done by the democrats. i want to warn the voters in california to rethink their actions. maria: these people have lost everything. and you don't hear any mea culpa from either of them in terms of the policy failures. >> never. for example, gavin newsom signed a bill to jack up the minimum wage for fast food workers. as soon as he signed the bill,

before it went into effect, pizza hut laid off 12,000 workers, between now and then fast food workers have lost their jobs. have any of the politicians said maybe i went too far, maybe i strangled the next fast food owners and as a result i caused a lot of people to lose their jobs, many of them the black and brown workers that the left purport to care about. not a single one of them have said mea culpa. not a one. maria: it's incredible to me that president trump wa called this. he told gavin newsom years ago, he said you need to manage these forests. >> there's always the tweet. thank goodness for president trump, the things knows about, such a variety of issues. we shouldn't be surprised. he's so well read. he hardly ever sleeps. it's known across the country even my home state of florida, land management are incredibly

important, subscribed burns are incredibly important. if you're not distracted by dei and time wai wasting activities, there's not just an impact on the culture, there's a distraction taking place and you're not taking care of the primary things which is keeping citizens safe and keeping homes safe and businesses safe. maria: you know, larry, it's hard to talk about aid for california and include ideas like, well, there has to be conditions and, well, there's going to be limitations to how much you get because of these policy failures but how else do you change the scenario, larry, without promises that the policies will change? everyone -- all the lawmakers i've spoken with say yeah, sure, we are going to agree on aid but we need to have policy commitments of change. >> well, i agree with all of that but good luck in changing gavin newsom, good luck in changing karen bass. they're blaming all of this on climate change.

what gavin newsom called it was a climate damn emergency, so they think they've done fine. they're perfectly okay with all of the aid to illegal aliens, perfectly okay setting up a panel to recommend reparations for black decedents of slaves, perfectly okay mandating ethnic studies for everybody to graduate from high school, mandating if you're a large retailer you must have a gender neutral aisle in your toy store. this is what they're about. they're not going anywhere. maria: great to see you. thanks so much. larry elder. stay with us. we'll be right back. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management

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let's go boys. the way that i approach work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family,

we're building an integrated in-home wifi solution for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ maria: welcome back. well, chinese hackers gained access to top treasury official files including janet yellen's files. >> more than 3,000 files including some belonging to yellen were part of the breach. the attack came through a third party vendor, targeted agencies like the committee on foreign inveinvestment wall street jourl says china makes up 27% of the world's goods when it comes to exports. we shall see and production.

capital one facing a lawsuit from the consumer financial protection bureau, claiming the bank cheated customers out of 2 billion in interest, the suit claims the financial firm promised top savings rates but failed to tell customers about better higher yield options, some accounts frozen at 0.3% rate as new accounts saw offers above 4%. capital one is denying the allegations. taking a look at the stock this morning, slightly higher. macy's is sticking with its luxury brands, bloomingdales and blue mercury despite investors calling for a spinoff of the brands. the ceo says the brands are growth engines and benefit from being connected on shared operations land strategies. investors think the brands could be worth more independently. macy's has a new plan, they're going to upgrade flagship stores but they're closing a lot of less productive locations. shares of macy's slightly higher.

and then maria, in the immediate days after the devastating california wildfires, governor gavin newsom issued an executive order that bars unsolicited undervalued offers to purchase properties in specific zip codes in la county for three months. but the editorial board of the wall street journal says wait a minute, they're asking why not ease regulations, environmental regulations for all projects if these rules are such a barrier to development. and then now we're getting reports of homeowners taking matters into their own homes, trying to protect therty trying to defend the property against not just fires springing up and buried embers even though his wife said you need to leave e he wouldn't. residents say this is the wild,y can't stay on their properties because there's worries about toxins and unstable structures. lapd is stretched thin right now. a lot of these folks are armed, maria. they're holding weapons and trying to protect their

properties. one more issue i want to bring up with is the concern about predatory real estate investors and buyers preying on vulnerable people in these neighborhoods. and you may be sitting on $500 million lot. if you know you can't afford to rebuild you're going to have to probably sell the lot. now they're saying, newsom did this last friday, he called the governor of hawaii, remember in maui when we heard reports of predatory lenders trying to snatch up beach front property on the cheap, the governor of hawaii stepped in to block it. newsom is working on the same thing there. might be legal issues with this. maria: you've got to expect fraudsters are going to try to take advantage of a crisis. that's what we're seeing once again in los angeles. >> which is never good. one of the things in this executive order i'm assuming this is correct, i'm reading it here, $500,000 loss or million

dollar lot you're sitting on where you can't live in a house on that lot, gavin newsom is going to allow the property taxes to accrue and compound while you don't have a house there. maria: oh, my god. >> and if you don't pay that, california will seize that property and they will build there. typical gavin newsom for you. >> no. and the other thing i have to point out here too, i interviewed josh flag, he's on million dollar listing in la, this is last friday. he said here's the other problem the folks will have which is unfortunate. say you've got $5 million lot that was worth 5 million two weeks ago. now when you have 30 lots that are all worth 5 million, those values are going to go down, the sales prices are going to go down. so they're going to also lose in that regard as well. >> you have to allow that to occur. we see this happen after hurricanes in my home state of florida all the time. i understand trying to protect your residents from predators. you can do that through education, letting them 2340e

what their properties are worth. there are people who want the cash, they want to move out of california, many of them, especially after something like this and these types of executive orders stop people from being able to cash out on their property and we have to -- you can't over regulate. you have to inform your residents, protect them but not necessarily block them from being able to get out when they want to. maria: we will leave it there. great reporting, cheryl. firefighters are working around the clock to contain the deadly california wildfires, fox weather meteorologist craig herrera now with an update there. craig. >> maria, good morning to you. the offshore winds we had and the windstorm, the winds are dying down today. we'll start to see an on shore push. i'm getting the question constantly. the off shore is the wind coming off of the land going out to the ocean, brings the humidity down, dry, gusty winds. that changes later today through tomorrow. the winds come off the pacific, give us nor the way of relative humidity, you hear of a marine layer. we'll probably see a thin layer of that close to the coast which will help with the fire fighting efforts from the ground and air

attack as well as we continue to watch the fires burn. 21% contained in the palisades fire. containment means they put the line around the fire. they have to work to put the fire out at this point. it's going to be a long process and a lot of this is hilly community and we'll continue to watch this area. maria: we need that, craig, thank you. craig herrera. stay with us. a lot to come. we have a big hour coming up right here. you're watching "mornings with maria" live on fox business. we'll be right back. ♪

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