report with bret baier. he has the first interview congressman devin nunes tonight at 6:00 p.m. check it out. i'm dana perino. here's shep smith. >> shepard: its noon on the west coast. 3:00 in washington. we're finally getting a look at the memo. the republican memo on the russia investigation. the fbi had questioned its accuracy and noticed key facts. . trump approved the release. he said the russian investigation is biassed. >> it's terrible. it's a disgrace what is going on in this country. it's a disgrace. >> shepard: the man behind the memo, devin nunes claims that it shows serious violations of the public trust. democrats call it a sham. meant to undermine the investigation into team trump's ties with russia. we'll boil down with what the memo does and doesn't show and asked if it could affect robert

mueller's case. they a look at your paycheck. you should see changes from the new tax law. some folks might be getting short changed for now, some of you. we'll explain how to find out if the feds owe you money and goodness, we're watching wall street. the dow having its worst day since 2016. the worst week in two years. what is driving it down and how low can it go? let's get to it. the memo is out. the ones republican have been hyping as jaw-dropping and led the president to say when you look at it and see it, it's a disgrace what is going on in this country. that memo is about one thing, the surveillance of carter page. the former trump adviser who has been on the fbi's radar for weirdness since 2013. the russian document or the republican document reads like a press release. its authors accuse the feds of

abusing the authority to spy on a former trump campaign adviser in its investigation. the top democrat warns the memo leaves out the full picture and key pieces of evidence. context matters and it's missing. according to the memo, former fbi director or i should say deputy director andrew mccabe said that without the trump dossier, there would have been an investigation. mccabe testified in 2017 that no surveillance warrant would have been sought from the fisa without the steele dossier information. the political document leaves out the fact that page caught the attention of fbi officials way back in 2013 when the feds recorded a suspected russian spy saying he might be able to leverage the former trump adviser for information. democrats on house intelligence

committee released a statement after the release of the memo. in it, lawmakers address the evidence surrounding carter page. part of the statement reads in order to understand the context in which the fbi sought a fisa warrant for carter page, it's necessary to understand how the investigation began, what other information the fbi had about russia's efforts to interfere with our election and what the fbi knew about carter page prior to making application to the court including carter page's previous interactions with russia intelligence operatives. president trump says the contents of the memo are a disgrace. >> when you look at that and you see that and so many other things, what's going on, a lot of people should be ashamed of themselves and much worse than that. >> shepard: when you look at that, you see that and so many other things going on, a lot of people should be ashamed of themselves and so much worse than that. the debate over whether to release the memo has deepened

the divide between the white house and the intelligence community. president trump gave them the okay to release it even after fbi officials, democrats and some republicans warned against it. the fbi wrote in a rare public statement that the director and agents have grave concerns that key facts are missing from the document. democrats on the intelligence committee say republicans distorted information to make misleading claims. so americans will be less likely to trust the justice department investigation to protect the president. gop members also blocked democrats from releasing their own memo, which challenges the republican document. so who is behind the memo? well, the republican chairman of the house intelligence committee, devin nunes of california. that's who. the chairman staffers are said to have written the document. the gop lawmaker is a supporter of the president, obviously. served on his transition team, has been critical of the intelligence community. nunes recused himself from the committee's russia investigation

last year after word got out that he misled the public about documents that the trump administration leaked to him. he misled the public. nunes has dismissed the fbi objections as spurious. and robert mueller is looking into the president, whether he obstructed justice and anything is preventing from the past happening again. president trump has denied all the claims. we have team fox coverage. john roberts is live there with more on reaction from the president. first, let's go to the chief intelligence correspondent, catherine herridge live in washington. catherine? >> the new declassified memo states the former british spy that was paid by democrats put together the trump dossier had a personal animus towards donald trump. christopher steele was hired by fusion gps for the project in april 2016. five months later according to the republican investigators, he

told the top justice department official that in september of 2016, christopher steele admitted to bruce ohr about his feelings about then candidate. he said that he was desperate that trump not get elected and passionate about him not being president. ohr was denoted over his contacts with steele and glen simpson whose research firm fusion gps' records showed that ohr and his wife worked for the clintons. they have to overcome a number of significant hurdles, shep. >> shepard: the dossier is part of this memo. >> that's correct. so in seeking the surveillance warrant for the trump campaign aide carter page, republican investigators said secret national -- the secret national security court was never told about the dossier's political roots. neither the initial fisa

application in october 2016 nor any of the renewals disclosed or referenced, the role of the dnc, clinton campaign or any party campaign, even though the political origins of the steele dossier were northern. the warrant was renewed mull time with sign-off according to the memo by fbi director james comey. his deputy, andrew mccabe. and then sally yates and by trump appointee, trump attorneyen general, rod rosenstein. many are taking issue saying the fisa process is more complex. many say that that the political motivations of steele are not accurate. in the last few minutes, fox news just learned that when the fisa applications were submitted, the dossier was like the top line item, shep, it was played up, it was not minimized.

>> shepard: catherine herridge in washington. thank you, cat. >> you're welcome. >> shepard: john roberts is live in the yard this afternoon. >> we heard from the president. he weighed on this after meeting with north korean defectors. this was after the memo was transmitted. listen to what the president said after reading the memo. >> i think it's terrible, if you want to know the truth. it's a disgrace what is going on in this country. the memo was sent to congress that was declassified. congress will do whatever they're going to do. i think it's a disgrace what is happening in our country. >> of course, what congress did was decided to release the memo, the republican side, the house intelligence committee did. a statement from sarah huckabee sanders, the press secretary a short time ago, going into a little bit more detail about the white house reaction and where we go from here. sarah huckabee sanders saying

the men random raises serious concerns about the integrity at the highest levels of the fbi and the department of justice. they used the most intrusive tools against american citizens. it also says minority members have drafted a separate men random. the administration stands ready to work with congress to accommodate oversight requests and including need to protect intelligence sources and methods. what she's referring to there is the competing memo drafted by democrats on the intelligence committee, which we understand we haven't seen yet and we don't know much about it may refute claims in the nunes memo. hearing from john mccain about this this afternoon. mccain in a statement saying the latest attacks on the fbi and dent of justice serve no american interest. the american people deserve to know all of the facts surrounding russia's ongoing efforts to subvert our

democracy, which is why mueller's investigation must proceed. our elected officials most tolooking a this through patrol ticks. if we continue to undermine our own rule of law, we're doing putin's job for him. obviously, shep, strong opinions on both sides of this issue this afternoon. >> shepard: fbi agents and the former director are speaking out as well. >> they are. we're hearing from james comey who since he decided that he was going to take to twitter on a frequent basis has made no attempt to hide his true feelings now. coney tweeting out, that's it? dishonest and misleading memo? destroy trust with intelligence community, damage relationship with fisa court and inexcusably expose classified investigation open an american citizen. for what? doj and fbi must keep doing their jobs. and then another statement today from the association that represents the fbi agents which

said -- >> now one of the big questions in this is, what is the fate and future of rod rosenstein who the memo said signed one of the fisa surveillance warrants on carter page. listen to what the president said when he was asked if he continues to have confidence in rosenstein. listen here. >> you figure that one out. >> the president asked, do you still have confidence in rosenstein? the president said you figure that out. if the president were to try to fire rosenstein, it looks like he's going to go -- he would

have to go through his attorney general, jeff sessions to do it. jeff sessions this afternoon voiced confidence in rosenstein and the number 3 at the justice department, rachel brand, saying that they represent the kind of quality and leadership that we want in the department. shep, there's no question that the release of this memo has fired passions on a lot of different sides. >> shepard: it has. thanks, john roberts. >> thank you. >> shepard: long before that dossier, trump campaign adviser carter page was on the fed's radar. context ahead with chris wallace. first, wowsa. downtown. wall street. not a great day. the worst one-day percentage job drop since brexit. there's a lot of volatility but down is the word for the day. it plunged after the opening bell. we'll keep an eye on the markets.

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>> shepard: backs to the top story. the republican intelligence committee releasing their declassified memo about the russian investigation which claims federal investigator as becaused their powers. fbi officials say the memo is not accurate because it's missing key pieces of information. context matters. the democrats are echoing that calling the memo misleading at

very least. let's bring in the "fox news sunday" anchor chris wallace. i thought your initial assessments were interesting. share them. >> gosh, i have to repeat what i said? >> shepard: you do you, man. it's perfect. >> look, there's some things about this memo that are very troubling. it's reveals that there was extensive use of the dossier to try to get the carter page warrant so that they could surveil him and also indications that bruce ohr, got money from the clinton campaign and the dnc to handle the warrant, that they were -- he was passing that information on and a lot of this, the fact that the democrats were behind the dossier, a lot of that wasn't shared with the court. that is troubling. on the other hand, there's

things that are missing here that make you question whether we're getting the full story. for instance, as you pointed out before you went to commercial, carter page, it's not like this is some blank slate and suddenly the fbi decided to come down on him. carter page had been involved with the russians in the 2000s. in 2013, he was recruited by a russian spy in the united states to be a russian agent. according to newspaper reports, he was the target of a fisa warrant in 2014. this was two years before any of this happened. the other thing that is interesting in the memo is the memo doesn't say that carter page was the focus in the beginning, the genesis of the trump investigation. at the end it said that papadopoulos information, the george papadopoulos got information from the russians. the papadopoulos information triggered the opening of an fbi counter intelligence investigation in late july 2016

by peter strzok, the very controversial fbi agent, the fisa warrant on carter page wasn't obtained until october of 2016. there's one other thing that is interesting, very damaging or very misleading. there's one statement here. deputy director mccabe, who has now been removed, he testified before the committee, the intelligence committee in december 2017 that no surveillance warrant would have been sought from the court without the steele dossier information. that would seem to indicate that without the dossier, you don't get the warrant and the dossier is questionable because of the fact that it was research from the democrats. it's not a quote. it's a summary. it's a paraphrase. that raises the question, is that what mccabe said or is that what republicans on the committee say mccabe said? it's be interesting to see that testimony. >> shepard: i'd be interested to

see the fisa judge, a court which reaches levels of importance in these united states almost with the supreme court. i haven't heard you say it, that a fisa judge would allow such a thing based on an unverified dossier. it sounds very nunes. >> that's an adjective? >> there's a history. you can't ignore history when talking about the president. you can't. >> i will say this: if they presented the dossier, this is why i think you have to be somewhere in the middle. you can't say man, the republicans are right or man, the democrats are right. let's just wait and see. clearly if they were presented the dossier without telling the judge that this was the fruit of democratic oppo research, that is troubling. on the other hand as you and i know, a fisa application by the fbi to get a wiretap is dozens of pages long. sometimes a thick stack. so the idea that this dossier

which barely mentioned carter page, a small fraction of the dossier, that that was the primary basis for getting this warrant. again, maybe true. but i have questions. >> shepard: four separate fisa judges signed off on it. every six months you have to sign off. what has happened, they have seen something. it's not like they're acting in a vacuum. it began with agents saying connections with russians. every six months to get to surveil him again, another judge signed off on it. it was four separate judges. >> and to add to that, you can't take the old fisa only case. >> shepard: you have to have new stuff. >> say it was good enough before. supposedly in the past 90 days, you've done surveillance. you have to show fruits from that to get it.

there has to be new information. you can't say, well, we proved this last time, so here, you prove it again. >> shepard: it's a bomb shell, a smoking gun. look at it. it's a disgrace what is happening in this country. if you look at it and see it it's a disgrace. i don't see it. do you see it? >> i don't know. >> shepard: we'll know more soon. >> i wouldn't say it's worse than water gate. i wouldn't say it's nothing as some people have said. it's interesting. there's some troubling information in it. let's get the rest of the story. >> shepard: we'll know more and that will be helpful, whatever that is. chris, great to see you. i'm excited to be with the program this sunday. >> we have a great show. we're going to be talking to that gentleman there, eric swallell and chris stewart, members of the house intelligence committee. the questions that you asked me, i'll ask them. i don't know that we made a graphic. we do. leon panetta, former secretary of defense. we thought let's get a wise hand, something that is known his way around washington and ask him, is there in there there, what is conceivably important here, what are the questions he still has.

>> shepard: i love that. the great thing about "fox news sunday," it comes on the same day as the super bowl, which will be live from hard work stadium in miami february 2, 2020 on the big fox network. this weekend, it's on nbc. ♪ psoriatic arthritis tries to get in my way? watch me. ♪ i've tried lots of things for my joint pain. now? watch me. ♪ think i'd give up showing these guys how it's done? please. real people with active psoriatic arthritis are changing the way they fight it... they're moving forward with cosentyx®. it's a different kind of targeted biologic. it's proven to help people find less joint pain and clearer skin. don't use if you are allergic to cosentyx. before starting cosentyx you should be checked for tuberculosis. an increased risk of infections and lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms of an infection.

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>> shepard: more now on house republicans releasing their once classified memo about the russia investigation that accuses the fbi and justice department of abusing powers. fbi officials and democrats that have seen the intelligence on which this document is said to be based said the memo is missing context which makes its claims inaccurate. let's go to katelyn owens, a reporter for axios. good to see you. >> good to see you. >> shepard: the general argument is you don't know what you don't know and it's that unknown that gives this context. we can't know it because it's

classified. >> yeah, that's what i was going to say. the problem is we have this four-page memo released by one party on a completely partisan vote and the white house ordered it released. we have a statement from the fbi saying they omitted key facts. the democrats saying it's misleading. all we have is four pages that are circulating here. it's just hard to know what the full story is or even how big the story is without the other information. with all the lingering questions out there. >> shepard: the timing is interesting when a federal prosecutor is at your door, waiting to interview you, suddenly this memo of distraction comes out according to the fbi leaving out facts and because of that it's misleading to change the subject away from the special prosecutor is at the door, mr. president. that's where we are, isn't it? >> i can't speak to just the

intentions behind the timing and whatnot. >> shepard: i'm saying that's the context. >> yeah, it is. and i think -- it's no secret the president distrusts the fbi and law enforcement. it's been official after official that he's discredited publicly. he's asked to resign. he's asked for loyalty. he's asked who the person voted for. this president has been very involved to just completely unprecedented amount with law enforcement and the fbi and the justice department. it's not normal. it's clear that when they don't -- when he disagrees with them, when things are not going well, their motives are impugned. >> shepard: it's interesting to see even this memo says that this all began not with any dossier, but with papadopoulos. >> right. i mean, it's interesting that that is included in the memo. >> shepard: that's what i meant. you can put -- it's a political document. you can put whatever you want in

it. it reads like a press release. they put that in there. >> right. even if -- it seems like their argument is that since this was a biassed source, that it completely raises questions whether or not carter page's surveillance is appropriate or not or even legal. i think the thing is, that goes back to the russia investigation origins of it and the papadopoulos thing. just shows that this investigation was getting started way before the fisa court began authorizing the surveillance of carter page. so you know, i think it's -- if this motive is to undermine the russia investigation, it doesn't -- it almost undermines itself. >> shepard: there's more to learn. one thing we're positive of is we don't know about all of this stuff. it's bob mueller that has information and eventually we'll know it or we won't. we don't know it today. >> right. >> shepard: last thought. >> yeah, so we might get more information. i mean, you saw the white house

today saying it is supportive of democrats releasing their version. their separate memo. this house intelligence committee. we don't know again. there could be inappropriate behavior by the fbi and law enforcement. could be context that allows to us shed more light on it. i think the story is going to keep unfolding in front of us. >> shepard: we're not through with it. katelyn owens from axois. thank you. >> thank you. >> shepard: the government is about to run out of money obviously and shut down again. but the drama around the nunes memo was the main headline out of the republicans retreat this week. that is ahead. after some headlines. the dow off 558 on this session. we're watching it.

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the bullet hit another girl in the rest and the boy in the head. doctors say he will survive. january was one of the deadliest months in puerto rican history. that's according to officials there that said there were nearly 80 killings last month. 500,000 americans are still living without power after hurricane maria slammed the u.s. territory in september. robert wagner a person of interest in the 1981 drowning death of his wife natalie wood. that is the word from investigators in southern california. they say they have a new witness that has come forward saying that that witness heard yelling and crashing and saw a man arguing with a woman on a boat. no word yet from number 2. for m

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democrats are saying and some republicans. you have the democrats leadership like nancy pelosi and chuck schumer sending a letter to the president, warning him about potentially firing rod rosenstein at the fbi or the investigator in this, mr. mueller. here's what they said. then you get steny hoyer sending a letter to republican speaker of the house, paul ryan saying -- >> the altering of a class fade memo after the committee's vote is dishonest violates house rules and demonstrates the lengths the chairman he is going to in order to protect the

president. then you get an op-ed in "the washington post" from representative will heard who is a former cia agent and served there nine years. he said essentially -- >> shepard: democrats wrote a counter memo. they said they wanted to scrub it or something. they could have released them at the same time. obviously they didn't. it's a political memo. >> they can't just release it. the committee would have to vote for the release and be scrubbed of potential national security issues. the white house has said in their statement that they might be open to this being released and then you have paul ryan who said "i am glad that this memo helps to provide greater

transparency and i reiterate my support for the similar release of the minority's memo once it's scrubbed of all intelligence sources and methods." adam schiff had a phone conference with reporters about what would happen, when this memo comes out. here's what he said. >> it will have to go to the white house and the president in theory could veto its release, in that case the house would have to override that veto. i think the president would be hard-pressed to try to suppress this memo, particularly since they claim they're releasing the gop memo in interest of transparency. >> shepard, sometimes you don't like what you see. back to you. >> shepard: sometimes you tonight get the whole picture like today. good to see you. the republican memo a big topic

of the gop retreat in west virginia. republicans saying that were meeting to talk about the agenda. but they got questions from reporters on the document that their own party produced. peter doocy is live in white sulfur springs. how are you, peter? >> i'm doing all right, shep. a lot of questions about the memo. the handful of republican lawmakers that took shuttle buses from their meeting, party meeting at the greenbrier resort across the street to the conference room where reporters were camped out wanted to talk about things like their breakfast with the defense secretary or infrastructure or immigration. but a very large percentage of questions from reporters wound up being about the news of the day, which was this nunes memo that some of the lawmakers from the house had seen and none of the senators who were here had seen. a big party of these retreats is about getting lawmakers on message regarding big ticket

items on the horizon. the elected officials kept trying to get to their left field talking points with limited success. at one point during a press conference with paul ryan and mitch mcconnell where almost all the questions were about this memo, a reporter at the end as this thing was wrapping up stood up and shouted out, some of us have questions that are not about the memo! ryan and mcconnell exited the stage left anyway. >> shepard: how big a factor are the upcoming mid-terms in the decisions they're making there? >> very big, shep. that is why infrastructure was such a focus, especially on if first day of this retreat. that is because republicans think that a infrastructure package will be popular with republican and democratic lawmakers and voters. recent polls show republicans trailing democratic mid-term candidates on a generic ballot. but they're here laying out a plan to highlight what they see as the positive impact on the

recent tax reform package. they think tax reform will be the winner in the mid-terms much more than what they can do with daca and a border wall if anything. shep? >> shepard: peter, have a great weekend. thank you. lawyers for the former trump campaign aide facing criminal charges in the russia investigation are asking to quit the case. analysts say that could mean that rick gates is trying to cut a plea deal. it could. what could that mean for his co-defendant, paul manafort? we'll talk to a federal prosecutor about this. you take care of business. let office depot® officemax take care of you. this week all dell pcs are up to twenty five percent off! save even more when you purchase a dell monitor.

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>> shepard: a former donald trump campaign adviser facing criminal charges is apparently losing a few of his lawyers. analysts say this is another sign that he may be cooperating with the special counsel, robert mueller. three attorneys for rick gates are asking a federal judge to let them leave the case.

they say they will explain their reasons in a court filing, but that's in secret. it's just the latest legal shakeup for gates after he dropped his original attorney. he reportedly recently added a prominent attorney that specialized in white color crime to his team. a man whose colleagues were spotted going into the building where the special counsel works. the judge in the case says the trial will not start until after at least september. gates and his co-defendant paul manafort have pleaded not guilty. they face a decades behind bars if convicted. let's go to jeffery cramer, former u.s. assistant turn. big picture, what does this tell you? >> we can infer a few things. mr. gates has gone through attorneys beforehand. looks like there's a seed change

here with a handful of lawyers leaving and more coming in and perhaps he's trying to reach an agreement with mr. mueller. >> shepard: remind us what the beef is with gates. >> sure. in a nutshell, with gates and manafort, it's money laundering. mr. manafort was active overseas along with collecting money in the ukraine and other parts of the caucus states. set up companies overseas. the money was deposited in the companies and brought to the u.s. in the forms of property transactions and buying luxury items: there's a tax allegation that he didn't declare it. >> it's interesting the investigators have hired a number of prosecutors who specialize in money laundering. >> that's not a coincidence certainly. these guys have been down this road before. if you look at this case, the

mueller team moved very quickly, this is a somewhat complicated case to put together. you have to get records from overseas. normally not an easy thing to do. you need to tie various companies to mr. manafort and mr. gates, which they did. you then need to follow the money to the u.s. and the property records in which that i did and did it very quickly. if you look at this case, it was done in a matter of months and they have a pretty rock solid case against mr. manafort and mr. gates. >> shepard: you would cooperate if prosecutors offered you a deal to give you less trouble than you would otherwise have in exchange for giving information on someone more important than you to them. right? the question is, would turning states evidence if that's what you want to call it, potentially affect donald trump in some way? >> here we have to connect a few dots. if you look at the manafort gates case by itself, which has

nothing to do with the russian contacts on the white house, just that case, certainly mr. gates can flip on mr. manafort. that's where it gets interesting. now you put the squeeze on someone like mr. manafort who has nowhere to turn. he's 68 years old. he's looking at a decade in prison. that's not something that he wants to take the full road and try to go to court. so at that point, you're seeing what mr. manafort can talk to you about. you have him cold on money laundering. you might see what he might know is where the russian and the white house. that's where the nexus gets made. >> shepard: it's a fascinating case. jeffery cramer, former a six and the u.s. attorney and now managing directly at berkeley r. group. great to see you. >> thank you. >> shepard: coming up, back to capitol hill where democrats are pushing to release a memo of their own. we'll see how that fight could unfold. this is not a good day for your 401(k). would you look at that? the dow is off 645 points. 2.48%.

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>> shepard: it's kinds of a shocker to see the numbers. the stock market is by points, we're down a lot. 645 points. that's a lot of points. that's the most points since 2008 when the house voted down the tarp and we were in the middle of cataclysmic changes. it's only -- it's not 2.5%. so it's a big number. yes. it's a very big number. but the dow is so big that it's -- the dow is like astronomical. since the president took office, the biggest percent drop since brexit, which was june of 2016.

the largest single day drop since 2008 and the financial crisis. so it's big, but gerri willis is here from the fox business network. the idea is this is a reset? >> well, look, 2.52%. if i called you up on the phone and said oh, a big move in the dow, you said calm down. >> shepard: i have a show to watch. >> yeah. it's important and we're watching this. 657 is nothing to laugh it. but what is going on. there's a big fundamental change in what is going on in the markets. it's not in the stock markets. it's in the bond markets. people demand from the federal government in terms of interest to buy the debt of the federal government is rising. okay? it's going up. hitting new highs all the time. >> more expensive to borrow. >> more expensive to borrow. the ten-year yield on the ten-year treasury is what look at and what people pay attention to. it's going like, this people are

unnerved. >> when is the last time the ten-year bond went up? >> it's going up slowly. the low was 1.36 in 2016. do you know what the high was? >> shepard: no. >> 15% in 1981. we've been in a period of falling rates ever since. that what everybody is used to. that's the world we know. the world we know is a world of low interest rates. mortgage rates low. credit card rates lowish. >> shepard: that is when i was in high school. >> not anymore. >> shepard: a mortgage would be 17, 18%. so we planned to build this house. 17, 18% for a mortgage? that's what everybody paid. you can't believe it now. >> you can't convince millennials. yeah, it happened. ander with having a turn around in interest rates and it's affecting the stock market big time. let me tell you, last friday we had a record in all three major indexes. we were at record highs. january has been the biggest

month for stocks on record just this january. it's been amazing what has happened. we've hit 1,000 point games nine times since the election. the fact that some people are saying i've had enough of this makes sense now. doesn't it? >> shepard: it's volatile. >> it goes up and down. >> shepard: it's weird how that works. good to see you. >> good to see you. >> shepard: have a great weekend. we're watching the fallout after republicans release the memo on the russia investigation. let's bring in chad pergram. are they a buzz up there? >> not many people here but republicans should be rolling back into town momentarily. 3/4 been in west virginia at their retreat and coming in back by bus. the big question right now, shep, the democrats and their effort to release their memo. remember the house intelligence committee voted against doing so side by side on monday night when they released the republican memo. adam schiff, the top democrat said in a conference call that was on about 1 1/2 hours ago, he thought the house would release the memo. the administration has suggested

that they think they will. paul ryan has said that he's in favor as well. what this will come down to is a vote in committee. since the committee voted against doing so earlier in the week, there would have to be a change of heart. something else that adam schiff is worried about, what changes might be made because you need the classified information. you could have a situation where the house committee wants to release it and maybe the administration doesn't and in that case they would convene a secret session of the house. they have not done that since 2008. ironically enough on fisa. there's been six such secret sessions in the history of the republic. >> shepard: wow. thanks, chad. >> any time. >> shepard: we'll be back with a look at when congress came up with a new way to take care of its troops. it happened on this day in history.

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>> shepard: on this day way back in 1901, congress passed legislation to create the army's dental corps. in the early days of the u.s. army, it was soldier's responsibility to take care of their own teeth. that wasn't always possible, really, when they were at war, as it turns out. they needed to have enough teeth intact to bite off the ends of cartridges in order to load their guns. not even kidding. later some troops started setting up their own dental units. after u.s. troops went to foreign soil, the surgeon general took steps to hire an official tooth care team. team teeth care. born 117 years ago today. don't be hating on dentists. hate on money managers. this is their fault. it's really about the 30-year treasury. but today it just means we're down 673. close to 700 points off on the

session. 2.5 percentage points. a big number. when i need context and perspective on the market, i tune to the man, neil cavuto. your timing is impeccable. here he is. >> neil: thank you, shepard. the memo and the mulling. you're watching "your world." i'm neil cavuto. man, the two were not connected, but they happened on a day when everything were falling out of dodge, a memo release that republicans say was long overdue and a sell-off that by the way, a lot of analysts say was long overdue. first, the sell-off and a backup in interest rates and built on the best of reasons. things are improving. the economy is really stimulating. that should be good news. today for very different reasons, it was not. let's go to deidra bolton who sort of picks apart everything going