the bold breakthrough the dow jones industrial average hit a new high wednesday topping twenty two thousand for the first time ever the record is just one in a series of highs since the election of president donald trump the question is are the market moves a direct result of the new president either his policy proposals or efforts to reduce financial regulation our next guest is ever most qualified to talk about this former u.s. trade commissioner bart chilton bar you have to admit since the election since it was known that president trump was going to be president the markets have been on a tear does he deserve some credit for that. i think he does i mean you're absolutely right it they've been up since the inaugural samone twenty one new records and thirteen of those thirteen of those since the inaugural twenty one cents since the election so yeah he deserves some credit but you know it depends upon what's going to happen in the future about whether or not this this can

continue or whether or not it's a bubble and that remains to be seen certainly at the beginning people were looking at his policy proposals which they thought could help fuel inject the economy and some of that is a little less certain at this time right i mean the policy certainly drove it as of november but in the months that he's been president we haven't really seen a lot get done let's talk about some of those policies though especially tax reform and infrastructure improvements if these measures passed that could really boost the economy what's the prognosis here. well if i gave you three pieces of paper i would be providing you two more pieces then the treasury department has given to congress on tax proposals that said with the death the seeming death at least of health care the senate and i think the house also will follow suit are really going to focus on tax reform now i don't think they can get it done this year and so i

think markets are becoming you know disconnected with the possibility it is going to be tax reform and therefore more money to invest in markets. but it remains to be seen so far what they've decided to do on the hill at least and on the senate side is go it alone like they did on health care and not in list the democrats to try and do something and i think that's the way they need to go that is to do it a bipartisan way the last time samone that there was tax reform was nine hundred eighty six one ronald reagan was president and that was a bipartisan endeavor. the democrats alike and my experience both it ministrations in working in the house and senate tells me that moderate approaches the use republican and democrat ideas are the ones that get done the best and they're the ones that are best for the country so i hope they move to that point as some period here as we're going forward but i don't look at tax reform to be completed this

year right but with health care seemingly off the table right now not being able to come to any terms on anything congressional members are looking to tax reform is kind of the next step there but there is one asset there are facet of his proposals that he's actually trying to bypass congress and that's with financial regulation rollback some say his efforts to reduce financial regulation rolling back the two thousand and ten dodd frank financial reform law that it's already helping the financial sector others of course fear that it will her regular americans by exposing them to the risks associated with the crash how do you see that one. well you know he's a big supporter of the wall street reform and consumer protection act which as you disappointed out known as dodd frank in two thousand and ten and not only work with congress to help pass the law but i helped write and vote for his sixty five rule so i'm a big supporter of it that said you know it was never my contention that we were

going to get it exactly right and that was because we were regulating these previously unregulated financial instruments called swaps of these over the counter swaps things that were used like baskets of mortgage loans called credit default swaps when they were really toxic and led some of the largest investment banks and even american international group insurance company to receive a billions and billions seven hundred plus billion dollars in a big bank bailout and so those things i don't think will be pulled back upon by the regulators within the. administration but there will be some tweaks to the volcker rule and perhaps to some other areas and i think that's appropriate no worries with doing that again we never said we were going to get it right as long as those fundamental markets that were not overseen that got us into the big economic mess don't resurface i think we're ok and we spoke about the volcker rule

and some changes that the treasury department wants to make this week on the show and i wanted to ask because he's clearly using the financial regulators to go about this as opposed to congress is that the way you see trump being able to kind of push forward some of his financial policy proposals. a little bit samone but there's only so much that he can do i mean the law is the law the law sets the broad parameters for what the regulators do and then the regulators you know put the meat on the bone to say exactly what it is that the laws usually are not very prescriptive and so there is some flexibility on the part of the. but they can't take the volcker rule and rip it up they can't take the reforms i was talking about with over the counter trading and rip it up it's going to exist so i think this talk about you know reducing regulation is a little bit more than it's really made it will be in reality and i don't think

that's what's spurring economic growth i think it's what we talked about that there was a bet that markets and traders were making up on tax reform and infrastructure also i for neglected to mention that earlier if i gave you seven pages i would give you one more page than the administration on infrastructure but they promised a trillion dollar infrastructure. bill which we desperately need both of those things are big things for the economy neither of those look like they're going anywhere fast i think right now markets are being driven by these reports that you've been expertly covering the last few days market it ended up today dow jones industrial average twenty two thousand and sixteen they closed and that's driven a lot by the tech stocks not just apple which had this great boom in profits are up twenty eight percent this year and even the i pads have made a resurgence and they're betting on this new iphone coming out in the next couple of months but the other tech stocks and facebook and boeing is doing great and

mcdonald's is doing great so i think it the markets are based upon the performance of some of these large companies and some of the economic indicators which are pretty powerful we just had a two point six or two point eight annualized growth reported last week g.d.p. up from one point two so that's a pretty big boon and not enough to maybe get up to three percent which is the low bar that the president and his people the ministration said they want to reach but it's getting close so there are good economic signs samone and good signs with some of the companies that's why i think markets are on a tear i think they're divorced now from the policy considerations and why. we're talking about are certainly things that wall street can react to on the short term we're talking about rolling back financial regulation that can take years and you actually just throw an op ed that was published this week about how the lack of financial regulators the commissioners at your former agency the commodity futures trading commission how they could actually hinder financial regulation first of all

explain what's going on why are we not able to fill these positions. sure and thanks for the question so the opinion in a trial i wrote was a about this by former agency the commodity futures trading commission which really impacts they have they have oversight for markets that impact just about everything that everybody purchases whether or not it's a student loan or a home mortgage or a car or a gallon of gas or a loaf of bread it makes sure that that regulatory agency tries to make sure that the markets operate efficiently and effectively and that it's the void of manipulation or fraud or abuse and here's what's going to happen there are currently two commissioners there and it should be five and one of them is going to leave which will leave only one and the office of general counsel at the agency has a pine that if that occurs and they're only down to one they will not be able to

enter into settlements with nefarious folks and they will not be able this is a big one so mome to issue subpoenas and if that happens what it means is that bad guys will get away that instead of issuing a subpoena to collect evidence people could be running to the paper shredder and destroying evidence and so justice will be either delayed or fortitude and that is a big huge hairy deal and so right now today or tomorrow the senate agriculture committee which approves of these nominees that the president has made will act on them but the full senate needs to act to simone. and you know their days are numbered before they go take off for their break right and so i'm really hopeful that they will act before they leave to approve these three commissioners and make the acting chairman a permanent chairman christian carlos' done a great job so that the the agency functions appropriately and ensures that these

markets operate not just for traders but for our economy in our country are we have about thirty seconds left but i wanted you real quick to just look into the future for us give us some insight what do you see happening with the president's nominees and really for the markets for the rest of the year now that we've reached this record. well i'd love to say that i think the senate will confirm the three that i've spoken about just now but i have my doubts hopefully they'll get done within the next month or so the war on end up in this really debilitating circumstance but they are proving watts they just approve the f.b.i. director so i do think that the log jam on nominees has been lifted and hopefully we'll see more of those people get into these key policy positions of the administration simone former u.s. trade commissioner bart chilton thanks so much for being on and in fact we're going to have you back tomorrow to discuss the jobs report thank you so much. time now for a quick break but stick around because when we return germany recalls a five million cars and porsche is forced to stop selling one of its s.u.v.s in the

emissions cheating scandal that will not quit. as. much as you see it on the lips only get you to talk a little. suddenly a shot at being that does not allow them to just tell you that outside of town like on the. by then got to essentially they're not there. but they just show stuff on. to not. listen it's going on more. certainly not so it. can be no secret was revealed to the pope multiple injuries among company to soak the kids a few look but the show's real yammers on the phone to the book and the movie will

become the focus of the say yes but in the book. of. my. own i'm a bit of nothing a. tough allowed me. something that. something outside of. us and the tunnels look not that i would like to now maybe i'm moving on moving forward after a. welcome to the twilight zone it would seem this is a place where debbie wasserman schultz resides works and even conspires she's at the center of a growing scandal that includes ethics violations fraud and gross mishandling a sensitive government documents and just what none of this is being blamed on

russia. it's seemed wrong when old rules just don't hold. any new world believes yet to shape our disdain becomes the adjective and it gains from it equals betrayal. when so many find themselves worlds apart we choose to look for common ground. if the shutdown showdown congress is heading to recess without a clear plan in place to pass a new budget and if it fails to agree on

a spending bill the lights could shut off just like it did in two thousand and thirteen the fact that congress and the white house have hardly demonstrated the ability to work together is concerning since a government shutdown can cost the taxpayers billions of dollars with congress out of commission for more than a month that leaves little time before the new fiscal year starts october first to address a spending plan and that's not all the u.s. will likely reach its debt limit the same month meaning lawmakers will need to get on the same page for two huge financial showdowns joining me to talk about it connor brantley executive director of america's youth pac connor two huge tasks just in time for recess a lot of people saying september when they come back is going to be a bear do you think that congress can tackle both wolsey i mean if health care is in the indication probably not but i think you know the real challenge for republicans now is to come together as a caucus to really find the consensus and what do they want to do they want to pass a clean spending bill or build like the treasury secretary wants or do they try and

find reasonable spending cuts so they try. to get a new resolution they have to figure out what they're going to do and so far we haven't really had any direction from them and this is it's about to go in recess the house already is so it's going to be an interesting few months here well no direction from congress but finally we're having a few things cleared up as least as far as the white house is concerned regarding the debt ceiling bill first it sounded like the white house wanted to add some sort of amendments spending reforms to it and then treasury secretary stephen minucci. put his foot down he said no i want to clean bill nothing at all attached let's make this as easy as possible to push that through so what does that do that that direct approach will i mean i think it's going to be tough because look i mean we know for a fact that there are going to be republicans hard line republicans who are not going to vote for a clean bill that's that's just a fact they didn't do it back when president obama was in the white house and speaker boehner was in charge they're not going to do it now the president trumps

in the white house so i think the clean bill itself is probably knock ever going to happen i think that for much off the table so i think now republicans have to figure out like i just said what angle they're going to take and i think the bigger question is what is president trump going to do and what are his priorities on the campaign trail where does he want to cut. assuming there are probably won't be any new revenue increases so it's going to be a balancing act and wolf to see where does the responsibility lie when it comes to the white house wanting one thing congress wanting another it seems pretty ludicrous at this point that you have a republican white house republican held house and republican held senate and you can't get on the same page to get anything done so if the white house is saying we want one thing where do the republican leaders from congress come together and say let's make this happen where's the holdup shirt so i think i really think you'll see paul ryan and mitch mcconnell try to work together to hash something out i think that will most likely have the white house's blessings i'm not quite sure how in the policy president trump in the administration will be so i think you'll see

them after the break come up with something come up with a proposal because the fact of the matter is this has to come before tax reform and it has to come before health care even though the white house is saying that no votes will be allowed to take place i'm not sure where they drive the story but that's what they're saying you know and so health care gets done so believing this is so pressing that it has to be done and if they really think that they're going to be able to present something and then have the unified caucus around the next day as they did with health care they might as well look at their past mistakes so the current debt limit is nineteen point eight trillion dollars that was set in march the. congressional budget office as i mentioned when we were first bringing in this interview things were going to run out early to mid october you wanted the congress to vote on it before they left that's obviously not happening so we were talking about paul ryan image mcconnell stepping up and trying to come up with a cohesive plan but do you think that the conservatives in the house and in the senate will demand spending reform attached to it absolutely i do i really do i think people like ted cruz and rand paul are never going to vote for something it's

just a clean bill and there you have two votes already in the senate you only need three to take it down so and i mean and then there are a lot of other republicans in the senate caucus who i'm sure feel the same way and same thing with the house i mean you have the freedom caucus who i'm assuming is probably going to be in a blog as well as additional republicans because the difference between this and health care is that lowering spending cutting spending is a pillar of the republican platform this is a myth they've been running on since the beginning of the republican party the modern day republican party so i think it would be a betrayal of their voters to vote for a clean bill so however they want to explain that we'll see but i think it's going to be is going to a real fight and i really do predict people like ted cruz and rand paul are going to be leading the charge on the far right side as they've done before well let's move on to the spending bills we have twelve to pass the last time that congress was able to pass all twelve before the end of september before its deadline was more than a decade ago and then we've seen it congressional leaders like mccain he's been

calling out rallying against the rest of congress for not having any progress what is congress need to do to get ready for those twelve and do they have the time to do it so it was going to be tough and we do not have a lot of time as i previously stated i think that they can but what they have to do over this break is paul ryan and mitch mcconnell have to come together and hash out a plan and then they have to start talking to people in their own caucus they have to start talking the democrats as well i mean where do they go from here because this is the problem is that we can sit here and debate what they should or shouldn't do what they might not do but we have no. after all it's at the end of the day it's up to them so we have no direction from them we have no guidance from them we have very little guidance from the white house we have something from steve but that's really about it i mean that's not a framework in which you can really move forward with anything substantive so i think it's possible but they really have to get their act together and i would actually pay attention to john kelly right now and see if he's able to get the white house in line with these able to sue advance the president's agenda in

congress then i think the very interesting we'll see if that kelly area is the new era for the white house connor brantley executive director of america's youth pack thank you so much. a number of factory workers itching for a union just sent a list of demands to the company's board the group is calling itself the tassel workers organizing committee and the letter focused on three issues workplace injuries and paths to promotions and fear of retaliation for speaking out about wanting to unionize the letter reads we are facing a set of challenges challenges that are holding us back from working as affectively and efficiently as we would like we have raised these issues repeatedly but they remain unresolved the workers involved are asking independent board members to step in and pressure management including c.e.o. even musk to address their concerns once and for all it's unclear how many

employees are behind the effort it's not the first time tesla workers have talked about unions the chatter first started in february when an employee went public about poor working conditions with claims of low pay and long hours at the time back in an e-mail calling the claims untrue including a point by point rebuttal no word yet on how tesla or the board will react to this latest letter. it's hard to ignore amazon's growing presence in the world it's become one of the most powerful forces in retail and electronics and has even successfully expanded into the media streaming space seemingly unstoppable it's made its mark as the ultimate disruptor to talk more about this we're joined now by boom bust bianca sheeny who is in baltimore for an amazon jobs day event. by the end of the day amazon will have hired fifty thousand part and full time employees across the u.s.

for amazon jobs day here in baltimore thousands of applicants are applying for a coveted twelve hundred positions and amazon is thrilled to be expanding its presence in local communities it's not the biggest employer in the u.s. but you might assume otherwise after tending one of its job fairs at amazon jobs day nationwide in twelve locations people are lining up for hours just to apply for open positions and we're really excited to see this kind of turnout because across the country we're looking to fill more than fifty thousand roles here in the city and county in baltimore and in the region we're looking for about twelve hundred rolls for context that's nearly a quarter of the jobs added to the u.s. workforce in june alone some of the jobs filled will be part time at amazon sortation centers but a majority will be full time at the film and centers like the one here in baltimore and those full time gigs mean benefits this is

a great opportunity it's not to me companies that you can walk into a you already shareholder from day one offering your a very good benefits pakistan including your for one k. and a competitive race. is a good opportunity that means a lot to job seekers and baltimore that up until only recently dealt with years of stubborn unemployment post recession compared to its competitors and even major u.s. employers amazon offers more benefits than most the benefits that come with jobs that amazon has worked as a way. to attract members of the working age population but it's also been a good way to attract younger members of the generation especially as the price of college tour is and way to raise taxes for many young americans a job that pays full time with benefits beyond just medical is a better deal than tens of thousands of dollars in student debt it also allows them to get a head start on saving which is why some people at the job fair were in attendance

with their kids so this is a great start for him this is a great opportunity and it gives him a chance to move up in a van you know so that they feel like you. have to make you feel as amazon's labor force grows so does its global presence and buying power and it's making other companies nervous in fact an analysis by bloomberg shows that amazon was mentioned more in earnings calls than anything else including trump wages or trade amazon's recent purchase of whole foods even earned a response from the c.e.o. of mcdonald's given its new threat to companies in the food industry at the same time amazon has its downfalls too like other tech companies it's having trouble navigating sales abroad especially in china it also isn't exactly loved by president trump but overall amazon is certainly expanding its presence in baltimore . r.t. . as you mentioned president trump is not paul and of amazon has he

made any mention of this jobs fair. you know simone he hasn't which is odd because you know whenever an american company or an international company announces that they're going to add jobs in the u.s. or maybe they're going to open a new plant we immediately fair comment from the president from usually a positive one sometimes associating them with the policies of his administration but he is it's radio silence from the trump administration on amazon jobs a which is on specifically because of how many jobs they added today fifty thousand but the . then we can all assume that he has stayed silent on amazon jobs day is because he has a lot of issues with its owner jeff bays. few weeks ago or actually rather last week in a tweet he accused of the washington post which jeff bezos owns as well quote lobbying congress to protect amazon from paying more taxes because he sees the washington post as a very anti trump publication so they're pushing all these anti trump stories in

a way i guess helps out congress which i guess he also sees as anti trump and then protects them from paying more in taxes now it's important to point out that amazon does in fact pay taxes both back and forth. but. right to pay last corporate tax even though trump himself has said that he believes in that field so we're kind of talking in circles but it's a complicated relationship between the two things bianca reporting from baltimore and that'll do it for us for now check out the show on you tube thanks for watching the next time. you know. much as the students. get you to tell you.

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we will find you we will investigate you we will prosecute you to the fullest extent of the law. you will not be happy with the result of us is arrogantly addressing leaks from the white house as transcripts of promised calls with world leaders are released by the media raising fears over national security. meanwhile washington blames russia for escalating the diplomatic crisis between the two countries while donald trump accuses congress of summering the ties with new sanctions. and the opposition in venezuela says it will defy the needed.