let me begin with fisa. the three provisions that will expire on june 1 are first the roving wiretap authority. this provision enables the government to maintain surveillance on a target when he or she switches phone numbers or e-mail addresses without seeking a new court order. the second is the lone wolf authority, which enables the government to conduct surveillance of a non-united states person engaged in international terrorism without demonstrating that they are affiliated with a particular international terrorist group, such as isis or al qaeda. and the third is the business records authority, which carries with it section 215 of the national security administration. this enables the government to obtain a court order direct inging the production of, quote, any tangible thing, end quote, that's relevant to an authorized national security investigation. can you describe for us the importance of these three provisions and what would be the operational impact if the three were allowed to sunset in june?

really speaking to the passions of middle-class families, being willing to take on power, fisa little guy, that's what people need to hear. elizabeth moran has been a model for that. we hope hillary clinton steps in the right direction comes to full fruition, surrounding herself with people like elizabeth moran, dean baker sheila bair, and really embrace these policies. >> i know you have probably seen these -- you have a poll from moveon.org showing if the primary were held today among those voters, elizabeth ward would get 30%. bernie sanders would get 6%. look at the difference in iowa where senator warren is ahead of hillary clinton in that state where hillary clinton did not win the iowa caucuses. elizabeth warren, 31% and hillary clinton at 24% stop and this story -- once more, a new brand for clinton, focusing on how the clinton the visors are trying to rebrand the former secretary of state. they are introducing themselves and clinton is almost universally recognized, love her or lowther, potential voters know who she is after more than two decades in public life or, they think

on june 1, three provision of the foreign intelligence surveillance act, which we cause fisa, will expire. if these authorities sxhir, the intelligence community will lose key tools to identify terrorist groups and to protect the homeland. this includes nsa's metadata program as wet as the authority for domestic fbi investigations, but also other important authorities. i looked forward to your testimony, director, and again i thank you for the excellent work you are doing. it's my intern once the testimony has been received, we will go to five-minute questions based on the order of attendance. hopefully that's been shared with everybody, and we will at this time turned to the director for as much time as your testimony might take, nick. >> thank you, mr. chairman madam vice chairman, members of the committee. i have submitted for the record a much longer statement that is kind of gone around the world and discussed in some depth the threat picture as we see it. thank you, first, for inviting me to discuss the terror threat that united states is facing and the attempt to counter that threa

fisa has been trying to restructure. they are set to cut a deal by the end of march and complete the process in april. it is a key condition as shares failed to rival soon at -- sun ac. >> china was out with property -- percentagewise, it was less than they did in the previous month. christine is going to the numbers. where arewhat are people suggesting? >> the headline numbers that you just had suggest prices could be flattening out. we saw the government cut rates in november and they cut the reserve ratio recently and the central bank has been very active in liquid in into the bank. -- very active injecting liquidity into the bank. like i said, it is not really reflective of higher home prices overall. there is still a lot of excess inventory from before and developers are still trying to get rid of these unsold properties. they will even heavily discount them to move them. i just had a chance to look into those numbers city by city. we have some graphics for you here. the top cities are seeing modestly less declining

the winner was fisa ceo shane smith -- vice ceo shane smith. two of the hottest tech startups around -- snapchat raising more money -- they've been talking about raising funding revenue for a month. they are talking about $2.8 billion. heavy interest in this. snapchat has a valuation of between $16 billion in $19 billion. how can a photo disappearing at have such a whopping valuation? what does it tell us about what snapchat actually is? >> you know it as the smartphone app that lets you send photos to friends but then self-destruct within 10 seconds. founding in -- founded in 2011 -- at the start of this year snapchat is pushing the on those snaps. that is a team between cnn, vice and comedy central. the content is packaged in a cooler, hipper way that lists for 24 hours. facebook tried to buy snapchat for $3 billion in snapchat said no and raised $10 billion from investors all by itself. now snapchat seeks a new round of funding and the company could be a valued as high as $19 billion says one person with knowledge of the matter, making it th

i understand it's the fisa court. and the judge says the fisa court is weird because it's secret. telling you it's weird because it exists. no other western democracy goes to a court to conduct espionage. when we're looking at this from nsa, it's a balance between secrecy needed for success and transparency needed for approval. we're saying this is authorized by the president, legislated by congress. overseen by the court. i'm sorry folks, that is the madisonian trifecta. >> thank you. [ applause ] i want to say thank you first of all and what a pleasure it is to be with judge napolitano. general hayden it's great to be with you. it's an honor. i would say if i may, general hayden, so long as we have men like yourselves and the judge contesting big issues and big ideas, in talking about this nation's interests, and our great constitution all, all men and women who appear here about be playing at home before cpac. thanks so much. >> -- find out what important issues of the day are, to cut through the clutter and communicate directly to the american people and be exposed to conserva

on june 1 3 provisions of the foreign intelligence surveillance act which we call fisa will expire. they are the business records authority, the roving wiretap and the lone wolf. if these authorities expire the intelligence community will lose key tools to identify terrorist groups and to protect the homeland. this includes nsa's fun metadata program as well as the authority for domestic fbi investigations but also other important authorities. so i look forward to your testimony director masters -- director rasmussen and again i thank you for the excellent work you are doing. thank you mr. chairman. >> thank you vice chairman and let me say for the purposes of members is my intent once testimony has been received that we will go to five-minute questions based on the order of attendance. hopefully that is being shared with everybody and we will at this time turned to the director for as much time as your testimony might take. >> thank you mr. chairman madam vice chairman remembers the committee and i have submitted for the record i longer statement and discussed in some depth the thr

which by the way the fisa appellate court has upheld saying we take as a given that the executive haserent constitutional authority to conduct electronic surveillance without a warrant for foreign intelligence purposes. so we are still basing this on a body of law. we have learned a lot from this program. i went and looked at some notes of the things we were able to show. when i was doing it. through my time at the agency, which is 2005. about 18 months ago the president ordered the closure of about three dozen american consulates and embassies throughout the middle east. and as smoo as a matter of record the president says to the clapper we got a north american nexus to this threat? this is only about the mideast? and jim because of this program. because we were tracking the program through phone numbers was able to jam those phone numbers up against the meta data program, came up emmettpty and said no we have no nexus here. it is useful for security. it is also very useful for liberty. because if the president was genuinely concerned it has a north american nexus what were his other

director i'm going to go right to the issue the vice chair raised with you and that's the three fisa provisions that are set to expire on the first of june. if we allow those to expire what would be the nctc's ability. >> it's important to reretain these capabilities that the ability to have insight into what our adversaries are doing, the connections they may have both internationally and potentially into the homeland is an essential part of the business of identifying individual terrorists and building out the picture of the networks in which the terrorists operate and so fundament alley, reauthorization is something that we're counting on in the intelligence community as an important part of our work. >> director earlier this week the administration announced the creation of a cyber threat intelligence integration center where they refer to it as ctec. the national center will reportedly be modeled after nctc and the national counter proliferation center which has struggled under the odni management. i'm hesitant to authorize the creation of a new center until some of these linger

'tis in group has -- fisa group -- thyssenkrupp, germany's largest steel maker, has been cutting costs. net income has come in at 50 million euros for the three months ending december 31. that is compared to a net 65 million euros a year earlier. in terms of the analysts estimate, adjusted earnings rose 21%, just short of the average of 10 analysts. slightly short, but some improving trends. they have been expanded their industrial component units because of weak steel prices. it is much more of a diversified industrial business than a steel business. >> the world's biggest cosmetics maker is getting a boost. l'oreal reported fourth-quarter earnings that beat estimates which helped on the rebound of its consumer-products business. caroline is live at l'oreal headquarters in paris, where she will speak exclusively to the chief executive later this morning. what is behind the beat? >> l'oreal benefited from a strong dollar. they do have half of their revenues in north america. they also benefited from the buyback of their nestlÉ shares. they got a $2 billion capital gain from that buybac

article about planes that were not expected well with batteries melting down and something with the fisaall southwest obviously, but why would anyone want to fly a plane now? >> i believe this led to 90 cancellations yesterday. overall i think i will go with checking the plane to make sure it is safe. >> is this an faa bank or -- as a a thing or a southwest thing? betty: i do not know other than -- my hunch would be it is a southwest thing. you wonder if it was that they were able to fly, and must not be that serious. a quick turn around here. coming up, the u.s. justice department investigating whether one of the world's biggest banks manipulated the prices of precious metals. we get to the issue with our children. he will be joining me and a moment. ♪ betty: we continue our countdown to the opening bell. it is time for our deep dive. number 5 -- price-fixing. u.s. regulators probing 10 banks as part of an investigation for me if you late in the prices of precious metals like gold and silver. that is one of many scandals. for example, there was an rating of a $300 trillion benchmark. th

you fisa of all i would like to -- first of all, i would like to say that i was a really moved by our excellent description of the failure of obama administration. i think if you become the president i think it will solve the national security problem of the united states. i notice that you haven't mentioned much about north korea. my concern is generally focused on that issue. i think that problem north korean problem as well can be solved by exerting pressure which obama administration is failing to do that because he is afraid of war like in crimea ukraine problem, when united states says that we don't want to war, war is too dangerous then the enemy with win without fewing a war at all. >> right. >> if we pressure north korea not afraid of war then that is a way to solve the problem. no war and win over north korea. the worst dictatorship. >> an important question. i didn't mean to slight north korea. i spent a lot of time worrying about the north korean problem and was duly insulted by the rulers of north korea in my time and still view it as quite an honor that they attacked me.

fisa home depot 42 stocks on the s&p 500 are hitting new highs.. they will have termination of some of their contracts. a possible joint venture there. also doing well on their latest numbers. more fox business coming up. ♪ stuart: we follow the price of gas very closely on this program. it has gone up again. straight up for 29 straight days, by the way. have you given up on your forecast that we would touch the low again for crude oil pushed mark have you given up on that? >> i have not given up on that at all. we do not have an economy that is firing on all cylinders. july at this time last year, we were trading at $50 a barrel. we still can't get the economy going? i think that is a real big worry >> they are not spending that money, are they. they are not getting out there and spending vigorously. this economy is not moving swiftly. >> no. they are all missing. at best, the consumer is less than that. our debt can situation is no better than it was in 2008. stuart: all right. you are on. thank you very much. the state department is, not sure i

with other forms of the fisa and assistance i want to get to the question because i am concerned about the situation occurred to we have had numerous meetings in which they have called repeatedly for a anti-tank weapons, artillery long-ran ge mortar, and that has not been done. as they saw around mosul what kind of leadership would be given and what types of air strikes? with the spotters on the ground maybe we can open with that. >> it is to separate questions. carving the kurds is the important issue in there are two elements. with what they need and the political ramifications. so one of the problems is keeping iraq together. the administration's position makes sense to give these weapons through the iraqi government. regis have to try harder. it is easy for a defensive weapons that is for counterinsurgency. even with the night vision goggles it could be used against isis' also in a conflict and would focus on better equipment to make sure they have the ammunition to move around the battlefield. i am not sure that is such a good idea is assuming they can hold the ground now with a d

director i will go right to the issue with the fisa provisions is to expire the first of june.at is the impact of the ability to discover? >> as reinstated the important capabilities the ability and to what the adversaries are doing. into the homeland in to build up the picture of the network to operate so fundamentally as important part of the work. >> the administration announced the creation of a cyberthreat center that day have to be modeled after the national counter proliferation and center the struggle under management. and tell some of the lingering manage with challenges not the least of which is the inability to fully higher. with the open vacancies by the end of the year. >> had believe i can. and i am happy to report over the last fivers six months have taken significant strides forward. from outside of the intelligence community to bring new blood into the center but they are detailed but as you know, it is part of the lifeblood from the fbi to see a our defense department where every member of the community. we had this discussion and one year ago i would give you

you fisa of all i would like to -- first of all, i would like to say that i was a really moved by our excellent description of the failure of obama administration. i think if you become the president i think it will solve the national security problem of ofthe united states. i notice that you haven't mentioned much about north korea. my concern is generally focused on that issue. i think that problem north korean problem as well can be solved by exerting pressure which obama administration is failing to do that because he is afraid of war like in crimea, ukraine problem when united states says that we don't want to war war is too dangerous then the enemy with win without fewing a war at all. >> right. >> if we pressure north korea not afraid of war then that is a way to solve the problem. no war and win over north korea. the worst dictatorship. >> an important question. i didn't mean to slight north korea. i spent a lot of time worrying about the north korean problem and was duly insulted by the rulers of north korea in my time and still view it as quite an honor that they attacked me

be bundled with reform requiring some minimal level of transparences and major decisions from the fisa court and in a democracy we believe there is no such thing as secret law, let alone a body of secret common law. we may not know about the state of the union as the fbi and the nsa do but we should at the very least know what the state of the law is. thank you. [ applause ] >>> hi everybody. thanks for sticking around. i'm going to speak about something that is a little less scary than what julian just described but important nonetheless. the state of u.s. trade policy is probably closer to the libertarian model or ideal than any other policy, not because the government is not encroaching in trade policy or that because it is particularly libertarian, is that government encroaches more in these other spheres of our public lives. so we're still a long way from the libertarian ideal in trade policy and that ideal would be free trade. the free flow of goods and services across borders without tafrs -- tariffs or discriminatory restrictions the free flow of investment across borders in an

be bundled with reform requiring some minimal level of transparences and major decisions from the fisa court. and in a democracy we believe there is no such thing as secret law, let alone a body of secret common law. we may not ever know as much about the state of our union as the f.b.i. and the n.s.a. do but we should at the very least know what the state of the law is. thank you. [applause] >> hi, everybody. thanks for sticking around. i'm going to speak to you about something that is a little less scary than what julian just described but important nonetheless. the state of u.s. trade policy is probably closer to the libertarian model or ideal than any other policy, not because the government is not encroaching in trade policy or that because it is particularly libertarian. it's that government encroaches more in these other spheres of our public lives. so we're still a long way from the libertarian ideal in trade policy and that ideal would be free trade. the free flow of goods and services across borders without tariffs, without quantitative restrictions or discriminatory restrict

american system for unique system of oversight as well that dates back to the original passage of the fisa foreign intelligence surveillance act where it's not just the executive branch but the involvement of the court system and these are the same judges that appeared as a prosecutor that are giving in addition to the regular duties they sit on the foreign intelligence surveillance court. and we set up a unique structure in terms of having the intelligence committees in the hill in their response and abuse that was set up and regularly so where they were needing to be briefed on every single activity and you see the national debate as to whether the involvement of the intelligence committee and foreign intelligence surveillance court and restrictions in the executive branch is sufficient or whether we should change that structure. and you've had a different version of the house and senate and the president endorsed different proposals to change the current structure. but i would make some sense perhaps from someone who oversees the point that there isn't another country in the world that

want to make a brief comment to senator widen's comments that we'll have a spirited debate on the fisa issue. i do think there are challenges as we've discussed before both privacy and security related around holding data at the telcos and that will be the subject of ongoing conversations. . i want to raise isil and focus on most of your testimony. i would -- i would like to hear before the group when we were all at that moment astonished by the actions of boko haram in nigeria seizing 300 girls in the school and 200 of which are still missing and subsequent actions of the united states and sending troops and advisers to that region. we've seen since that time 1.5 million people displaced, more than 3,000 killed in 2014 and a coalition arrives most recently nigeria joined with chad and cameroon for a force. could you give us an assessment whether these countries have the capability, whether the tide is swaying, obviously and nigeria has postponed their collections. first question can be can they take on boko haram? it's remarkable with the atrocities they commit are still pushed off th

us about three weeks ago, and he told those that american ground troops as part of this battle of fisa would not be a good idea, in his view. yesterday we had a meeting with the the near of qatar. he said american ground troops are a bad idea because it would convert the perception of the battle against isil the u.s. or west against isil, rather than we are engaging in a battle to clean up our own rachel extremists. and we want america's help on that but they both offered us advice that american ground troops would be problematic because it would enable from a propaganda standpoint is being positioned as american or western occupation and that america is a spear against this terror threat here at his report that to you and would be curious to your reactions to those comments from trusted allies. >> i have had similar discussions with the team and -- with the king. he is a staunch opponent of the people in the region have to take this on and have to lead. you know, u.s. the meantime we show up someplace, we are by definition occupiers. he recognizes as did many others that at some point

on june 1 3 provisions of the foreign intelligence surveillance act which we call fisa will expire.re the business record authority, the wiretap and the lone wolf. if these authorities expire, the intelligence community will lose key tools to identify terrorist groups and to protect the homeland. this includes the phone metadata program as well as the authority for domestic fbi investigations. but also other important authorities. i look forward to your testimony, director rasmussen and again thank you for the excellent work that you are giving. and you mr. chairman. >> let me say for the purpose of the members it is my intent once the testimony has been received that we will go to five-minute questions based upon the order of attendance and hopefully that has been shared with everybody and we will act this time turned to the director for as much time as your testimony might take. >> thank you mr. chairman, members of the committee, and i have that for the record a much longer statement that has gone around the world discussed in some depth of that picture as we see it. but thank yo