ask wilbur.'s -- he has no hair. >> listen to you, you're yelling. >> is big hair therapeutically sound? >> i'm glad we're getting down to a serious biotechnology talk. i think that's going to take more time than we have this morning. but i will talk to you about that offline -- >> why are we talking about whether you're going to make an acquisition? why would it make sense for you to make an acquisition? are you a target yourself? >> any company in the industry has to consider that theoretically it's a target. just the nature of our industry certainly m&a is very big. there are certain discontinuities that are inherent in our industry. so for example when we're developing these drugs of tomorrow, these terrific new therapies, the average time that it takes is 12 to 15 years. and the average cost is about $1.4 billion now. that is not consistent with the public market environment in which fund managers, shareholders, are being marked to market every day. >> our earlier discussion about allergan a

you want to go, wilbur. hey, dave. >> you guys made it. >> it's a wild day. >> is this going to hurt my head? >> a lot of surprises. >> hold on tight. >> we head wildwile. get your shoes on, wilbur! >> this is a small city in southern california about halfway between los angeles and san francisco. a strong history in wine making, most visitors are here to see the vineyards, but not us. we're here to visit my good old buddy david jackson who operates an animal rescue center. he works hard teaching kids about wildlife conservation with his company, zoo to you. >> we had one of the

wilbur roth of the below graph. -- of wl roth.urdoch's 21st century fox try to buy time warner. ♪ >> you are watching "in the loop," streaming on your phone and bloomberg.com. i am betty liu. top headlines -- rupert murdoch's 21st century fox confirming it made a bid to buy time warner. they would be willing to pay more than 85 dollars a share. yahoo! shareholders will cash in when alibaba goes public. yahoo! plans to return at least half the cash it cap when the company goes public. the company has a 20 3% stake in alibaba. tesla will be coming out with an electric rival to bmw three. it will cost about $35,000 and have a range of 200,000 miles. the car will be on sale by 2017. almost 26 minutes past the hour, bloomberg is "on the markets." equity futures gaining, s&p futures up .5%. janet yellen continues her second day of testimony on the hill. her semiannual testimony on the economy. you heard her say the economy is improving but there are still a lot of concerns. she is more positive than she is negative on the outlook. centu

what is wilbur's revenge. >> wilbur's revenge is my competition barbecue team am i professionally competerbecue. i go out and defend barbecue. >> you're considered one of the best grille master in country. >> you know what, it's hard to lie when awards tell you the truth so -- >> i love that. i'm using that line. >> i did finish -- i got invited to the national championships at the american royal last year. >> is that an egg. >> that's a breakfast pizza mike. >> breakfast pizza. >> chorizo sausage big couldn't egg cheese. >> it doesn't have to be ground. >> i did this on a smoker on a pizza wheel environment a pizza roll here, a pepperoni roll, took please is a, put cheese interest pepperoni and i rolled it up in the circle laid it on the grille. >> look at this thing. >> look at the goo on the inside of that thing. it's like a calzone. >> what's the easiest thing to start off with. >> let's do nice crust on the grille. almost like a lavache bread. >> take this pizza dough and make a nice crusty dough. that's it. nice and easy. doesn't fall through the grille if it's hot. >> what are you

they caught up with wilbur robertson at his home and found four gallons of moon shine and a homemade hard liquor and 1500 bottles of liquor and beer. >>> emergency crews are repairing a broken gas main in new jersey after it was hit by a contractor yesterday. chopper 6 was over the scene. no one was evacuated. >> we were overreliant on casinos in atlantic city. what i would like to do is the transformation of atlantic city, to the destination we feel it can be. >> the store is slated to open next spring. >>> all right, time now to get a check of the traffic situation outside. >> lets go do matt pellman in the traffic center with an update. >> the ben franklin bridge is still a problem spot tonight. don't have to hunt for the problem spots but this is the biggy of the afternoon, an earlier overturned tractor trailer accident that left us with a spill, there is sand on the roadway, from the ben franklin eastbound headed into new jersey, sixth street traffic getting by in two lanes. if are you coming from ray street use the 5th street entrance to get to the ben. this is causing huge del

wilbur. it's very cute. keep it here. >> so cute. so cute. wilbur.pd, but i don't want my breathing problems to get in the way of hosting my book club. that's why i asked my doctor about b-r-e-o. once-daily breo ellipta helps increase airflow from the lungs for a full 24 hours. and breo helps reduce symptom flare-ups that last several days and require oral steroids, antibiotics, or hospital stay. breo is not for asthma. breo contains a type of medicine that increases risk of death in people with asthma. it is not known if this risk is increased in copd. breo won't replace rescue inhalers for sudden copd symptoms and should not be used more than once a day. breo may increase your risk of pneumonia, thrush, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking breo. ask your doctor about b-r-e-o for copd. first prescription free at mybreo.com but now that we have the tempadjustable base,ile, it's even better. [alex] when i put my feet up on this bed, my stress just goes away. [evie] i g

it's a pig named wilbur. the homeowners association wants it gone. is therapy animal for their children. they say he provides emotional support to their boys who both have special needs but the homeowners association says residents are only loud to keep common household pets, not pigs. this dispute is apparently been going on for the past six mont months. >> you know, pigs are a lot mr. common as pets these days, and they're super smart. scott william, how goes the weather because it was great today? >>> yeah, you know, lucy, stepping outdoors for the dinner break, across our area looked pretty this evening much the humidity is down and yeah the clouds and also the showers. they are moving out. as we look at the satellite and radar, this is that pesky front that brought us all the severe weather the last several days it's out in the open waters and now we have the drier air moving in to the philadelphia area. showers and thunderstorms you can see back toward the four corners all moving into the panhandle of texas and oklahoma. so that's where the sev

how many of you heard of the william wilbur force trafficking victims protection act of 2008? i know that's a mouthful. but it all started with this guy. and he had help from the democrats to get this done. this is a picture of president george w. bush signing the law in december of 2008. what this law does is the law protects children from countries who don't share a border with the united states. think about that. it's not kids from mexico. it's kids from central america. nicaragua, colombia. the law requires, the law, the united states law, requires minors to be given an opportunity to appear in an immigration hearing. it's all about protecting kids. that's what this is. so when these kids come to the united states, they're underage, there is a law on the books signed by president bush, helped by the democrats and republicans to get this all done, it was bipartisan, to protect kids, to give them a process. well, we've gone so radical in america, we want to break the that you. the law technically applies only to unaccompanied minors. in or what will we come with them? they h

officials are worried the squirrels there wilbur owe into an undergrounds layer of clay which seals off a former dump. last night they passed a new ordinance making it illegal to feed those rodents at all city parks. violators could face fines up to $1,000 and even up to six months in jail. >>> wildlife experts spent the afternoon scouring a neighborhood in such of a wayward marmot and they found it. these are pictures taken by a potrero hill resident who spotted it. their natural habitat is the sierra. emergency services set several traps in backyards and were able to catch it late this afternoon and they want to send it home soon. >> it needs to be up in its home territory. it needs to be collecting its food for winter. the longer it's here, the less time it has to do that. >> wildlife experts think it hid inside a car that traveled to tahoe or yosemite. it will be checked out at the silicon valley wildlife center before it's taken back to the sierra. >>> the famously short memory span of gold fish may actually we a myth. canadian scientists have debunked the popular belief that fish

it is not an issue of the wilbur force bill. it is a question of detention facilities, as well the need for diplomatic interaction as we've done with the crisis and the leaders of guatemala, el salvador and honduras. they are in crisis. they are violent. i ask you about creating more processing centers, and as well, the senate passed about a 2 billion out of their labor hhs, is this what you need, about $2 billion to $3 billion to make sure we can respond to this? i also ask if someone would address the question, and i thank the border patrol for the work they've done, the suggestions that there have been some form of abuse. i think we should not run away from challenges that have been made regarding the treatment of these children. i think we should be open. we want to make sure they have facilities. i appreciate your response to those questions. >> congresswoman, i will answer quickly and ask my colleagues if they would like to supplement. in general in response to your question, we need to identify and create more processing

the law as william wilbur force reauthorization trafficking act, passed in 2008 that is against the law sorry, you're wrong. >> you can not. do you know the law you're speaking of. bill: make your point jessica. >> they have to go through due process. >> fine. >> you have now -- bill: jeh johnson homeland security secretary. just give me one moment here, okay? he said yesterday, on nbc that our border is not open for illegal immigration. we will stem the tide. and people are looking at these pictures, jessica, and they're going, how? when? what are you waiting for? final word. >> they're asking for additional powers from congress. they have to get the power from congress. they can not unilaterally do it. we have this argument all the time about executive actions and everything. the president has asked congress give jeh johnson additional powers so he can circumvent portions of the law causing delays here. >> the president unilaterally wants to act without congress. get the kids out of the cage and send them home. that is not right. bill: jessica, thank you. we'll talk about this again n

wilbur ross that and beazer. >>: and the draft tams of these elite to a tremendous above the normal >: happening now out of san francisco-- burglars managed to break inside a home in the castro district-- by breaking the mailbox and managing to unlock the doors. kron four's jackie sissel is at the morning amid 19 in hartford, the ford thousand block of 19th street. at about 130 someone starker antar mel slot on the door and opened the door gaining entrance to the apartment while people were in sight. dundas where they spotted the suspect, he had a suitcase in his hand and he ran out the door. the victims inside the home when not injured in any way. there is no indication that they found a suspect. the sheriff's deputy who shot and killed 13-year-old andy lopez last october has been cleared of wrongdoing. sonoma county deputy eric gelhaus will not face criminal he shot lopez 7 times when the teen was seen with a toy gun. witnesses say gelhaus yelled at lopez to drop the gun, and he did not. the d-a showed a picture of the replica gun lopez was holding, compared to a real ak-47. she say

like wilbur got caught in charlotte's web. [ cheers and applause ] >> jimmy: and finally, that is notecause all the best things come in threes, d.j. dead mouse visited the mayor this week. he is a famous deejay. he takes deejays out for coffee, but this time he took the mayor out for coffee. i shouldn't be surprised at the mayor's coffee order but somehow i still am. >> get i get an extra large double double. >> can i get five espressos in one cup? >> can i get an extra large double, double? >> yes, i got that. >> and five espressos in one cup. >> sorry? >> five espressos in one cup. >> one cup. what is that -- >> it's good, trust me. >> jimmy: five shots of espresso in one cup? i think it would be healthier if he went back on crack. i mean, really! five in one. you know, there are a lot of big summer blockbusters coming out right now. sometimes it is difficult to settle on which one to see. so as a service we enlisted the help of our resident film critic. a gentleman named yaya. he works as a handyman by day, but his true calling is getting his picture taken with celebrities. yaya ha

the law in question is called the william wilbur force children protection act of 2008. it was passed by congress unanimously and signed by president bush. it requires immigrant minors apprehended at the border may only be deported immediately if they are from mexico or canada. the rest must be turned over within three days to the department of health and human services to await deportation hearings. in the meantime the law says quote, they shall be placed in the least restrictive setting that is in the best interest of the child. with an estimated 50,000 such children having come here from central america this year you can imagine how much trouble hhs is having housing them. even then there are a range of legal possibilities that could keep them in this country indefinitely. politicians are fond of railing against human traffickers for spreading the rue horse that such immigrant kids can easily get into this country but it's not a rumor, it's the law. >> you heard the homeland security secretary jay johnson having a hard time answering that question from david gregory a

this is bigger than the wilbur force law. >> let me interrupt for just a second. but the procedures, the process is such that if you get yew feet on the ground, you get to stay and have a hearing. the average is, what, 556 days? >> that's for some classes. it's less than 100 for all of them, but it is a problem. we treat mexicans and canadians differently than anybody else in the world. if you're from mexico and canada and arrive in the united states, we can without an administrative hearing move you right back out of the country. everyone else gets a hearing. we need to have everyone in the world treed like we treat mexicans and canadians. they refer to the non-canadian and non-mexican as otms. >> why are we in the weeds on this? i think it's a leadership question. i think the president and speaker boehner -- the president will not stand for election again. a lot of people think boehner will not seek being speaker again. these two should be able to sit down and work something out. >> obama thinks this helps the case for comprehensive immigration reform. >> don't

took that and they indicated they are willing to consider also adding a change to the 2008 law, the wilburce law and to enforce the idea that all of these unaccompanied children would get a hearing in seven days. why is that not enough? >> that wouldn't solve the problem. one of the things the obama administration is trying very hard to do is blame this crisis on the 2008 law. it's not complicated why. there's nothing the obama administration enjoys more than blaming problems on president george w. bush. since the '08 law was signed by bush they can blame it all on him. the problem with the theory when the law was passed in '08 we didn't see number of children skyrocket. it didn't skyrocket in '09, '10 or '11. the cause of the crisis was in june of 2012, president obama's granting amnesty. >> i under that argument. but what a lot of republicans even are saying is hey look without dealing with that, if we change the law, if we get more judges, if we get the seven day deadline, if we get more money for border patrols, if you want to throw -- you want to block that in effect you're perhaps th

and kirby wilbur, executive director of the national journalism center. [applause] although well known in his field, he was a pediatric brain surgeonh well known in his field, he was a pediatric brain surgeon at johns hopkins university. benjamin carson was not on the political radar until his keynote speech at last year's national prayer breakfast. with president obama -- [applause] with president obama, dr. carson spoke about the dangers facing the country. lack of education, the tax system, health care. he proposed a personal health savings account for everyone, and approach quite different from the affordable care act. some view the speech's rebuke of the president. it caught the eye of conservatives and led dr. carson to the nationals aged a weekly column in the "washington times." and now, some are encouraging him to run for the republican presidential nomination. [cheers and applause] while his views on social issues fit comfortably in the gop's right wing, he also advocates pragmatism. note the following from this column last week and i quote, if

it's called the william wilbur force trafficking victims protection reauthorization act, the law prohibitseportation for children from non-bordering countries, and requires they receive an opportunity before an immigration judge to determine their future status. >> could be anywhere from a yooer to a little more than a year before the kids end up going to immigration court and seeing a judge. they can have several hearings throughout their entire immigration court process, so really just depends on the child and the remedies and what's, if they have recommendation. >> it was intended to prevent child sex trafficking but the recent flood of migrants produced up intended consequences. the obama administration says the law is limiting its ability to deal with the crisis, and is asking congress for changes to help expedite the deportation process. the hearings will determine if it the children will qualify for humanitarian relief and be allowed to stay, but according to white house officials, most will not, so they will be deported, but that's not expected to be easy either. judge's deportatio

today, quote, the administration is considering changes to the william wilbur trafficking victims protectioneauthorization act of 2008. the name of the legislation. just last week, hillary clinton seemed to be open to changing the law herself. >> jeb bush out with an op-ed calling for comprehensive reform, as you do, but saying that the law his brother signed in the past when you were in the senate in 2008, ought to be changed to make it easier to send those other than the deserving few back their home countries in central america should that law be changed? >> i think it should be looked as part of an overall package. >> on friday, when hillary clinton was asked the same question, this time she took a definitive position whether the 2008 law should be changed. >> should we change that 2008 law? >> i think there has -- i don't agree we should change the law, no. i think that's why i'm advocating an appropriate procedure, well funded by the congress, which they are resisting doing, so that we can make individual decisions. >> republicans wasted no time in jumping all over what they considered

it's called the william wilbur force trafficking reauthorization act. the law prohibits a quick deportation for children from nonbordering countries and requires they receive an opportunity before an immigration judge to determine their future status. >> could be anywhere to a year to more than a year before the kids go see a judge. they can have several hearings throughout their entire immigration court process. really, just depends on the child and their remedies and if they have representation. >> it was intended to prevent child sex trafficking. but the recent flood of migrants have produced unintended consequences. the obama administration says the law is limiting its ability to deal with the crisis and is asking for change to help expedite the deportation crisis. the hearings will determine if the children will qualify for hue marine tan relief and be allowed to stay. according to white house officials, most will not, so they will be deported. but that's not expected to be easy either. a judge's deportation order must be carried out by immigration

the wilbur force act here was to deal with sex trafficking. you work for the new york attorney general. you work for senator clinton. if you're going to craft a policy that's durable for all these crises, it has to deal with this in flow of these requests. it's striking that the president and senator mccain have both said, well, maybe we need to move more of these requests back further away from our border. i think that's an interesting idea, but do you think it creates a risk of making it even easier to locally seek an asylum that's the genesis of the overflow we have right now? >> that's a very interesting concern. one of the things the white house is saying, that they will hold to the number of refugees that we have now, they're going to hold to that same number. the idea is to make this a bit easier and to prevent this flow of people coming through the border. it's very dangerous to travel through mexico. that's one of the big parts of this. if you have offices set up in honduras -- by the way, if it works in honduras, they might set this

and the law of unintended consequences seemed to flow from that wilbur force law that was passed in 2008what frustrates me is that i don't hear much conversation and substantive dialogue about that law and are we really about to change it? because it seems like the federal government is hamstrung. and you know, i look at the way that this is being presented on both the left and the right, and i think it bears very little resemblance to reality, and both sides are using it for their political advantage and caught in the crosshairs are 50,000 kids. >> yep. and growing. michael, thank you so much. you're right about that 2008 law, but they are talking about it on capitol hill. let's see if they can figure out what to do about it, if anything. i know you're going to dig deeper on the crisis this weekend on "smerconish oi." talk to one of the congressmen who wrote the law. catch it all saturday at 9:00 a.m. eastern. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. but with pamprin, a period means sgo!! pain relievers onl

that's when the william wilbur force trafficking victims protection reauthorization act of 2008 was passed. steve, hold on here because i want to get your take on how much that's contributed to this problem. the obama administration says it's a big factor. first, we have chris jansing back on the line. she's with the president and awaiting his remarks. chris, chime in on this subject of the origin point of these problems in the view of the administration? >> yeah, i think it's important that you go back to the 2008 law. i've spent a lot of time talking with top administration officials who are dealing with this law firsthand who are down on the border, who are the people who have studied it. let me just make a couple of quick points here. one is that this was passed by voice vote unanimously as an anti-trafficking law. so the kinds of problems we're seeing, fleeing violence, are not the kind of problems that they first made this law to deal with. and when you talk to the people who sponsored the law, the co-sponsors of the law will tell you they never in a million years imagined that it wo

answer to what is at its core a humanitarian crisis we'll talk about that and more tonight sloan wilbur on the right after the break. do you want to be a t.v. star and talk to me face to face and e-mail me your video questions and comments to your take my take at gmail dot com we'll air them live every thursday night it's easy put your phone in video mode hold it sideways and record your selfie video and e-mail us your take my take g.-mail you can also tweet your question or comment to me at underscore harben sure to use the hash tag. on marinated in the financial world. act series to moments i mean not stopping c.d.'s only takes no demand to trade is not going to get any economic benefit in life there are jews. look much. the same in the washington well as the misleading is being suppressed to add to the list of numbers and the media candidates for the prophecy of current issues are actually back to and doesn't do too much for ad revenue in biotech agriculture giant teeth on a seventy six year old american farmer east india fallout do you think this is going to create for the cia do yo

wilbur ross on m&a, banking. it :00 a.m. this morning. "in the loop" with betty liu.ank of america earnings and about 45 minutes. >> another transaction. more like a partnership. shares of apple and ibm are both trading higher. the longtime rivals are joining forces. the goal is to expand the business market for mobile devices. we have david kirkpatrick and the founder and ceo of tech onomy. bring your own device? employees insist they use that device for everything. >> it is like the employees over the will of the cio pulled apple into the enterprise. that is the world we are in. useybody has wanted to apple in this enterprise for some time. a lot of people. for a five years ago, i moderated a panel and the guy was telling me he had helped a major media company give ipads to its senior leadership and it was the first time in all of his work as a cio that he had ever seen true enthusiasm among the tech clients inside the company. when you give them an ipad, they light up. >> the security is not as tight as say a blackberry or other devices. >> it needs to get tighter.

so, it is kind of like wilbur -- uber, but so much more. >> a taxi booking app is going to add some carsits range. it is actually launching a new site. it is a slick website. it looks a little bit similar to the uber website. it is going to offer bmw series and aars, the audi, buick, all very slick cars. what it wants to do is basically game.n uber at its own >> i notice all the western faces on the website. that is a very interesting marketing play. but isn't uber already in china? don't they already offer luxury cars? >> they do. been saying, no one is really finding us until there arebecause other taxi booking apps in china. one is backed by alibaba. lift,are other ones like like easy taxi. they are already battling in the regular arena. luxury, head to head with uber, with wi-fi in cars. chargers, a luxury car service. everybody wants to get around town, if you are a well-heeled traveler. that it isge is already very popular. it has already something like 100 million users. the service is called something different, but it is linked to that name, and people already recognize it in ch

you have to -- wilbur force, requires. you have to process people coming in from central american countries not from mexico. others say the president disregarded law in so many other areas, why does he feel he has to enforce it precisely to the letter of the law in this particular instance? it is because he wants to. bill: back to governor perry. he will be a focus for the next several days. he went on sunday talk television and said, i wrote a letter in 2010, never heard a word. wrote a letter in 2014, never heard a word. what he says the white house is either inept or does not have the will to change anything. strong language. >> very strong language but i think actually gives us a window how badly mishandled this entire immigration issue has been by president obama and his allies. governor rick perry is not a restrictionist on immigration. remember during the 2012 presidential election he was often viewed as sort of the most welcoming, the most left-leaning on immigration issues broadly. he was beat up by fellow republi

much of this discussion in the congress and in the country has overlooked the fact that the wi wilbur force act is about human trafficking. if we eliminate the protections in that act what we will be saying is we win countenance the victims of trafficking being returned to their traffickers. i will say this, that we did make an exception for the children from contiguous countries and we have learned much to our sorrow that those exemptions need to be revisited because the united nations at our request has reviewed our processes and found that children from contiguous countries who have been trafficked are, in fact, being returned to their traffickers. with that, mr. chairman, i look forward to this hearing and i yield back. >> without objection all other opening statements will be made part of the record. we thank our only witness for joining us today. director rodriguez, if you would please rise, i will begin swearing you in. do you swear that the testimony that you are about to give shall be the truth, the whole truth and nothing but the truth, so help you god? >> i do. >> thank you

that reminds you of nervous time from david tepper, and wilbur ross has been in the cellar this year. >> it's not a market year, i don't think. there's certain stocks in certain segments doing incredible. oil and gas doing incredibly well. biotech with a big comeback, but the idea you trade the market is not a terrific idea. what i i want to be careful of, go back to teper, it's nervous times. unless certain events occur. that's not just idle chatter. events occurred, and he got bull ir. i wish people say, okay, what's it make you to like things again? a 10 % decline? bigger earnings? that's the thing that makes it so it's more valuable for our viewers at home. >> yeah. >> well, yesterday, of course, to the extent that people are nervous, they seized on portuguese bank that's having real issues. >> yes. >> and then wondered whether yet again we talk about contaigon and revisit the idea. it seemed like a one off, and then throughout the day the market repaired itself from the damage that took place, but it begs to question, a reexamination of portugal's gdp, debt to gdp and spain is no

by jeffreys from a hold to a buy on valuation, clearly not helping the majors, and i was struck by wilburs on "squawk," how much he bought versus selling. sold six times what they bought in 20 14, and ross, a wizard in disstress, debt and equity -- not surprising in his words given the market at these highs. >> down 140 points right now. you wonder on big drop days, what it means, what's next, the long term perspective at the open, look, the direction is higher, earnings better, and the fed is not in a hurry to raise rates. >> does not feel like we'll revisit the period where all we did every morning was looking to europe until the old ltro. you reminded me of that, came along, and then suddenly, everybody get better about the ability of the banks in europe. we came a long way over the years. >> draghi put action behind words. >> and banks repaired balance sheets to a large extent, this one in portugal not as much. >> get a taste of u.s. bank earnings in the next few days f sure. let's get to bob on the floor. good morning, bob. >> morning, guys, volume heavier than usual. small caps wors

much of this discussion in the congress and in the country has overlooked the fact that the wi wilburcking. if we eliminate the protections in that act what we will be saying is we win countenance the victims of trafficking being returned to their traffickers. i will say this, that we did make an exception for the children from contiguous countries and we have learned much to our sorrow that those exemptions need to be revisited because the united nations at our request has reviewed our processes and found that children from contiguous countries who have been trafficked are, in fact, being returned to their traffickers. with that, mr. chairman, i look forward to this hearing and i yield back. >> without objection all other opening statements will be made part of the record. we thank our only witness for joining us today. director rodriguez, if you would please rise, i will begin swearing you in. do you swear that the testimony that you are about to give shall be the truth, the whole truth and nothing but the truth, so help you god? >> i do. >> thank you. let the record reflect directo

. >> it's called the william wilbur force trafficking victims protection reoutization act of 2008, signednto law by george w. bush less than a month before he left office. named for a 19th century abolitionist, the law broadened legal protection for migrants, thanks to bipartisan support and strong backing from evangelical groups, the house and senate passed it unanimously. it said only children from mexico and canada can immediately be turned around and sent home. the rest like the thousands now coming from central america get a chance to tell an immigration judge whether they were the victims of abuse or a crime. during the process, they have to be held in the least restrictive setting available and if possible, reunited with a family member. the white house and it allies say this law combined to soaring violence in central america, not lax border enforcement are the roots of the problem. they say it has tied their hands dealing with the current wave of children. according to government records, published in the los angeles times, deportation of minors peeked in 2008, and plummet the of

the cloud cover all but wilbur of but after anticipates a loss sunshine and with high pressure in placet like we will see some of the warmest temperatures of the week. could see trouble the is this afternoon will continue to swap its monday and tuesday looks like zero little extra morning fog and cooler conditions into the afternoon firefighters battling another wildfire around like a very a stock more tangible signs since friday night. the story briskly about yesterday morning hellfire says but whats of the tel fire charred 7,000 a. of fire at them and heavy smoke forced partial closure at 128. prompted a several homes and campgrounds in the area. ls support 30 percent contained several fires from the state. croissant's scene said the fire has been fuelled by pot dry conditions >> : for the july celebration oakland got out of control now one man is dead as of this is called the 89th part street early saturday morning it after a power line him down all employees will not confirm how the land came down 1/4 tells me is that all men was firing ak-47 into the sky embolus cut wide parle and

first was wilbur ross, of course, the great financial investor, saying he is now selling six times thee's actually buying right now. so, he's a net seller in this environment. i thought that was interesting. and jack bogle wrote in the "wall street journal" that when there's a difference between perception and reality, reality always catches up. and i just think that there's so much irreality right now when it comes to risk pricing and asset pricing. i just think the wealthy right now feel like that's eventually going to catch up, probably sooner rather than later. >> irreality, is that a word? >> it's a robert frank word. >> now it is. >> he should trademark it. >> yeah, you've got that going. steve grasso, was that your point? >> yes. it's exactly my point. no one wants to rush in and buy the market at all-time highs, unless they know it's a sure thing. and we know the markets never bring with it sure things. but the problem is, there's been so many funds that have been underinvested, so they had to chase equities. and we know how that all ends. so, most of the smart guys, most of th

the also -- yesterday was sitting here with wilbur who is so smart, willler ross and just looking at story, looking at where rates are and 1.36 we both just said why is that thing at $1.36. can you tell me? >> the problem with the euro in terms of why it doesn't go down is they have a very large current account surplus. so there's a lot of capital inflows -- >> so it's not destined. it's not doomed to go down? >> i think it will go down. i think we're set up for a stronger dollar environment. the fed is going to be tightening monetary policy before the other major central banks. you've got both europe and japan with extremely easy monetary policies. and the u.s. will be done with its bond buying purchases in october. >> what's your big macro call? >> i think the dollar being stronger is an obvious macro call that we can make. >> can i ask you about something and you know we have delivering alpha next week and everybody's still wants to know about the fed. and the argument about the fed is whether at this point they stayed at the party, just too long given that things aren't that bad