Transcripts For FBC The Intelligence Report With Trish Regan 20171221

Isnt perfect a lot of things i wished for, lawmakers didnt bother to close all the fat cat loopholes, you know what . Im not surprised. Because these private equity guys are donates big bucks to lawmakers so washington wont go after them. Look how much money is at stake and how much both sides are getting from the fat cat donors effectively buying themselves a tax cut. That said there are a lot of good things. You know that Corporate Taxes lower. Means good things for the markets. New developments on a story weve been following closely on the intelligence report. Highly questionable uranium one deal. Attorney general Jeff Sessions is reviving a fbi investigation into Hillary Clintons ties to this deal and we have got the intel. First to connell mcshane, standing outside of a wells fargo bank, one Company Giving back to its employees because of tax reform. Connell, i love it reporter interesting, trish, because the corporate rate coming down from 35 to 21 that is really centerpiece, you know of this tax legislation. Helps Certain Companies more than others. Looking at banks, wells fargo, as an example, the effective rate wells fargo pays under the Current System is relatively high 31 , what is really pays. Gets it down to 21, that is a lot of money saved. The question is, what will you do with that . Wells fargo will raise the minimum wage. Pay certain hourly employees up to 15 bucks an hour. Fifth Third Bank Corp made same announcement as wells fargo. That is the kind of thing they love to hear at the white house. Watch. There is this idea that if you give American Companies more opportunity, they will then invest more in their workers. They will invest more like comcast in infrastructure. They will invest more in things that are important into growing our domestic economy. That is exactly why we did it. Reporter well, you heard tony sayegh there talk about comcast. To that point the 50 billion in infrastructure over five years is part of that. What comcast also says they will do hand out bonuses, 1000dollar, onetime bonuses. Weve seen that from a number of different companies. At t made a splash the announcement yesterday. Were talking to experts, they basically say thats fine, there is nothing wrong with but theyre more concerned about, more excited about companies raising wages, hiring workers over the long term. They say onetime bonuses again dont hurt at all. Certainly good company pr. Corporate pr, help workers getting them. But looking at the long term. To that point wells fargo is raising wages albeit the low end, but raising wages. Drugstore chain cvs plannings to hire 3,000 workers. Those are the kinds of things, trish, economists and experts look how effective the tax legislation can be rather than onetime payouts or stock buybacks. Nothing wrong with either but higher wages and hiring can really help. Already really good signs. Trish that would affect things. This is the frustration, right . They spent 30 years trying to get wages higher, are not adjusted for inflation budging so this could be a big deal. Connell, thank you so much. Joining me for more, forbes media editor chief and chairman, mr. Steve forbes himself. I havent talked to you since the whole thing went down. What do you think . This bill despite the democrats say will do more good than harm by a good margin. In the last few days before they passed the bill, the senate improved it. Took a lot of damaging junk. They have seven tax rates instead of house four, rates are lower for most people than the house had for the four tax rates. On that side, it is a good thing. Unless you make a real big high income, most people see their tax rates going down. Blue states with the salt, state and local Tax Deductions going away, that will hurt but not overcome the good of the bill. Trish im with you, steve, and well talk more about coming up what they could have done and should have done and still could do i you should point that out but overall you think what effect this will have on the economy, i mean 4 , 5 , gdp, is this in the cards . The answer is yes. The economy is already starting to pick up speed this year. Well have a Third Quarter or Fourth Quarter with 3 plus growth rates. Havent had that in a long, long time. You will see more Capital Expenditures starting next year. Trish is it that simple then . This is mr. Lower taxes, mr. Flat tax. You said lower taxes will unleash the prosperity but for whatever reason many in washington dont get that. Now they have a opportunity to understand that a little better. The democrats dont want to get it because they dont like donald trump. Their base is still foaming at the mouth about donald trump. Trish isnt that politically going to cost them, steve . Think about that. If you go back to your constituents, you are running based on you didnt want to offer a tax cut . That is not such a great message. What the republicans should do is say, instead of just say, this is a great historic tax, blah, blah, they should say this isdown payment for more tax cuts to come. Throw that out there this not one final thing. Every year, two years, well do more for you. Were the party that can deliver on tax cuts. They have now proven they can get a tax bill through. They have cred to go out to say we will do more if you keep us in. Trish you know the cbo scoring, i think it is kind of flawed. It is nonsense. Trish the kind of growth we could see out of this but will we be able to pay our bills because that is the fear . The only way you begin to pay bills if you have a vibrant economy. Assets growing in that economy that can sustain more borrowing we will very no matter what we do. The worst thing you can do about entitlements, raise taxes, hurts the economy, which will make it impossible to deal with it. Trish let me ask you this weve been talking a lot on this show about the imbalance between capital and labor. Capital is rewarded disproportionately rewarded in recent years, or at the expense of labor. Is this going to start to correct it . We get the news all these companies are giving bonuses, upping wages maybe hiring more, does the lower Corporate Tax environment catch up to labor and reward employees . What the lower rate does, not so much for Big Companies although they will benefit, but it is for newer companies can go out to start, not base this on onerous tax we have to bring in tax specialists from the beginning to figure out how to manuever. That is the a good thing. Psychology changes as well. For skilled workers there is shortage. Which means you have to pay more. Tough figure out how you train people to bring them back into the workforce. This isnt government programs. How do we participate in a growing economy. Private sector can get it done. Trish i want it to grow, steve, good to see you. Good to see you. Trish Merry Christmas. Merry christmas to you. Trish another breaking story, we have breaking news on the bombshell story we first blew open here on the intelligence report, that is, the failure of washington lawmakers to close the loophole in the tax code that enable as small percentage of wall street fat cats to make out like bandits, effectively paying half the income tax they actually should. It is known as the carried interest loophole and it allows people like this guy, Steve Schwarzman, made more than 400 million last year, pay less tax, less tax percentagewise than a new york city cop. How do you like that . Because mr. Schwartzman likes to call the income he earns from his labor an investment. Mr. Schwarzman, it is not but no one on capitol hill will tell you that or call you out because we can report today mr. Steve schwarzman fav more than three Million Dollars to, wait for it, Mitch Mcconnelllinked superpac fund in 2016. Private Equity Industry as a whole, donated to 79 of all senate seats, both sides, everyone. This is nonpartisan issue that year. Both sides of the aisle. So, effectively, what these guys are doing as congress didnt make it quote legal, would be and should be considered criminal. So you wonder why no one outside of our president , who at least, at one point in time cared about this issue, about this blatant inequality, why does no one bother to address it . Because their campaigns are bankrolled by the industry, meaning the swamp is a live and well. Ned ryun, ceo of american majority has been digging on this story. He joins us now. Ned, i dont want to, i dont want to take away from the good things in this package. It is very good for corporation. Thats right. Trish overall good for economic growth. All of that is good but i cant help but wonder why they didnt fix this, this one little loophole, that basically allows people making hundreds of millions of dollars to pay a lower Percentage Rate than you know, a fireman or a new york city cop . What happened . Well, i tell people, trish, if something doesnt make sense in d. C. , just follow the money. I say the swamp dwellers will never bite the hand that feeds them. Look at open secrets website, punch in private equity and Investment Sector for the 2016 cycle, you see this sector, private equity, gave over 14 million to incumbents in the 2016 cycle and they have been very good about, trish, spreading the money. 302 house members got money from the sector. Pretty even split between democrats and republicans. Looks like 81 senators got the money as well. 38 democrats, 43 republicans, nice split to spread the wealth. More interesting as you alluded to, trish, Steve Schwarzman of blackstone gave over 3 million to Mitch Mcconnells Senate Leadership fund in the 2016 cycle along but gave money to the congressional leadership cycle in 2016 alone. Is it any mystery that the special interest loophole is not in the tax bill when it is done. The reason it is egregious, on on a low estimate, billions a year. Some put it closer to 180 billion over 10 years. Theyre giving millions and millions of dollars for congressional reelects, to look the other way while theyre profiting billions of dollars a year. Trish buying them themselves a tax cut that is what theyre doing here ned, call it like it is. Absolutely. Trish give 3 million to Mitch Mcconnells superpac. Suddenly Mitch Mcconnell doesnt care about taxing you on what should be taxed . Trish ive been making argument for years at some point the American People are going to wake up and understand that this system of government is rigged against them. It is run by a ruling class of Establishment Republicans and democrats, who are serving themselves and serving their special crony allies. I think this carried interest loophole is one of the most egregious examples. I will say this, trish it, appears to me, gary cohn was on tv. Saying oh, we tried 25 times to close the loopholei at i think i have good news for gary and those in the white house this, is based on irs opinion in early 90s, initially dealing with a Real Estate Investment, how do they deal with recognized events . If somebody held a Real Estate Investment more than a year it became Capital Gains. Guess what the irs did . They allowed that to also apply to hedge funds and private equity guys. Nobody asked for a new opinion. What donald trump can do, he can call treasury secretary steve mnuchin, who can then call the irs and ask for a new opinion on this carried interest loophole and literally overnight, trish, this thing can be closed. Donald trump does not need to deal with the swamp dwellers. Trish back up for a second, weve been hearing years and years, cant do anything about it, cant do anything about. They can. Trish even during the obama years donald trump, on the campaign trail said no wonder there is no interest because they are all basically getting their pockets lined by this but youre telling me that the president of the United States, all need to do is make a call to treasury and this could be done. This is not in the law, trish. This is not in the law. This is based off an irs opinion from about 25 years ago and based off the best research that ive been able to do, all it requires, because obama could have done this. Obama could have picked up the phone and called treasury and asked for a new opinion from the irs. Donald trump, to the best of my ability can pick up the phone and call secretary mnuchin and ask for him to ask the irs for a new opinion, should private equity, should this be considered Capital Gains or should it actually be considered real profit . Meaning it would go from essentially 20 rate to 37 . Trish right. That would save us, as much as 180 billion dollars, some estimates for 10 years. Thats right. Trish we may have found a way to deal with budget issue. But more importantly, trish trish what . This is about having a equitable and fair tax system for all the American People. If certain loopholes will be closed, for example the salt loophole, this should be addressed as well. I think the fix is a lot easier and doesnt have to go through congress. Trish i athree 1000 , why we have been reporting on the issue. As good as the tax cut is, they left this one little part out. Thats right. Trish good news, silver lining, maybe just means the president has to get on it and force his Treasury Department to do something about it. Ned ryun, thank you very much. Congress everyone, has until midnight tomorrow night to come up with a spending agreement or face a Government Shutdown. President trump is weighing in, tweeting, House Democrats want a shutdown for the holidays to distract from the very popular passed tax cut. House republican, dont let this happen. Pass the cr today, keep our government open. Our own adam shapiro is live on capitol hill with the very latest for you next. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Please give at cancer. Org. Trish lets look at the markets. Were up 95 points. Dow 25,000, were really close. In Washington Congress has until midnight tomorrow to avoid a Government Shutdown. Theyre debating a new spending bill as the deadline nears. Our own adam shapiro is on the hill with more. Adam, feels like every Holiday Season we come up on this too frequently shall we say were coming up on this. Here we are again. How serious is it . Reporter pretty serious. I lost my new years eve in 2012. Remember when we were on the cliff . Trish i remember. Reporter what about staying on a few extra hours. They will vote on the continuing resolution that will take us to january 19th. I dont want to call it a clean bill, but is missing dead on arrival in the senate, full year of Defense Department spending. One of the things they will do, roughly 2. 8 billion in chip funding to take us to march 31st. That is part of the 2. 1 billion in va choice funding. But full year of Defense Department funding not in this. There are some discussions going on how to handle 81 billion in Disaster Relief for places hit by hurricanes and wildfires in california. That might be a separate piece of legislation. Tie it all together in the senate, possibly very late tonight. Here is what were hearing from different members of the house of representatives on why they think this is a bad way to go forward and why they think this is a good way. First you are going to hear from the democrat from massachusetts, james mcgovern. Then you hear from the republican bob woodall. You will hear them talk about chip funding. Republican majority prioritizeds tax scam bill Community Health centers, helping dreamers, even funding our government. If we pass the continuing resolution today, that funding will continue. Lets disagree on those things we disagree about. Be honest with ourselves, about the legitimacy of those disagreements. Reporter i stand corrected. That was rob woodall, not bob. You can call him ray, dont call him jay. If you remember that old ad. Where are we headed . Expectation this goes to the senate very late this afternoon, to the senate tonight. We do expect it to pass in the senate. Fingers crossed, its a dicey situation. As you said we run out of money midnight tomorrow night. This only gets us to january 19th. Trish. Trish were watching it. I hope it doesnt happen again this Holiday Season. Thank you so much. Well take a quick break. Market moving higher. Were on 25k watch. See you right back here. Trish back on the top story, tax reform. Many companies announcing they give Big Christmas bonuses. Christmas bonuses saying as a result of the tax bill. White house has to like hearing that. A lot of people have to like hearing that. Republican congressman Chris Collins joins me now and he voted for it. What a victory lap for you guys. Representative, people were frustrated after the whole repeal and replace debacle. Now they have this, they get ready to go out on christmas vacation. How much in your view will this add to peoples pocketbooks and to our economy . Trish, this was great to be with the president yesterday on the south lawn. All of us, everyone smiling ear to ear. His cabinet was there. Certainly ivanka and jared was there. It was truly beyond a victory lap. It was a Big Christmas present for america, middleclass americans as donald trump called it. A middle class miracle. 98 of my con stents will have 100 to 150 per month in their paycheck next year. They will spend it. As we know theeople they spend with will spend itnd it multiplies withinheconomy. The best ns, at and other say they have such confidence, giving 1000 for 200,000 employees and extra billion dollar capex. This confirms what weve been saying. Flies in the face of nancy pelosi and Chuck Schumer has been saying this is good for america, and our children and grandchildren. Growing economy to live the american dream. Yesterday was a great day for america. Trish seven companies now citing this tax reform will be able to give back to employees this is awfully good news. Were there moments, congressman, biting your nails, that you dont know if this will happen because it felt like in the final day as little bit touchandgo . I mean, trish, youre right. I was more worried about the senate than the house. Trish right. We saw the giveandtake. We passed repeal and replace of obamacare in the house. A lot of folks have forgotten that, but we lost nine senators. We had 52 senators. We lost nine of them on repeal and replace of obamacare. We needed them, the fact it was unanimous coming out of the senate. That is all but unheard of. Yes we were on pins and needles because we heard various senators with their issues but we did what was good for america and what was also good for our party and coming together and i would say it was a very bad day for Chuck Schumer and nancy pelosi, who didnt see this coming. As we have now united, and today were getting a continuing resolution passed to fund the government through january 19th, maybe that is kick the can but were not shutting the government down, go home to be with our families at christmas. This shows a united republican party. The likes i dont think america has seen in decades. Trish there is a lot you guys can do together. There is a lot you can do to improve the economy. Weve already seen the president take on a lot of that getting rid of some regulations. You see that in part with results in the stock market. The question when will it catch up to wages . We get good news of seven companies handing out bonuses we certainly hope there is more to come. The democrats, i hate to say this, congressman, politically speaking for them it is not necessarily good if our economy grows as a result of lower taxes and that is unfortunate. Senator schumer is all politics all the time. He is not caring what is good for america. He wants desperately to be majority leader of the senate. The tears were real when he found out he would be minority leader again. He is not putting America First at all. That is why next year, he has been lying to america about them average americans paying for this big tax cut for the wealthy, which it isnt. Trish no, its not. I keep making the point, and the viewers heard me about the fat cat private Equity Investors but that is a separate issue, a separate issue entirely. I think Chuck Schumer and nancy ought to get their talking points straight, and the truth is, you know this, congressman, new york has heavy state tax, high earners in places like new york and california will help foot the bill for middle class getting the tax cut. Thats right. Trish let me ask you this, congressman, will you go back at it though . If the economy starts to do well, will you go back at it to offer more on individual side . What we want to do is make the individual side permanent. This is nuance of the Arcane Senate rules that we had to sunset technically the individual cuts in eight years in 2025. We do have to make that permanent. That will be our focus. It is not additional cuts, but to make that permanent. On the corporate side we did make those permanent which is huge. And you know, pretty much guaranties a growing economy. That is what we need. We need need to grow our way. Trish congressman, lots of good stuff in here. I have to always look at both sides. I congratulate you on getting it done. Congressman collins, thank you very much. Thank you. Trish nikki haley deliver as blistering speech on a resolution demanding that the United States rescind its decision to make jerusalem the capital of israel. Ambassador haley that United States will not be bullied by the u. N. Anymore. This administration is putting America First. We do what we need to do. Intel next. America will put our embassy in jerusalem, no vote in the United Nations will make any difference on that. But this vote will make a difference on how americans look at the u. N. , and how we look at countries who disrespect us in the u. N. And this vote will be remembered. We give you research and datavisualization tools to help identify potential opportunities. So, you can do it this way. Or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just 4. 95 per online u. S. Equity trade. Fidelity. Open an account today. Open an account today. When you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. We call that, the golden hour. Evaluating patients remotely, is where i think we have a potential to make a difference. We would save a lot of lives if we could bring the doctor to the patient. Verizon is racing to build the first and most powerful 5g network, with ultra lowlatency that will enable things like precision robotic surgery from thousands of miles away. As we get faster wireless connections, itll be possible to be able to operate on a patient in a way that was just not possible before. When i move my hand, the robot on the other side will mimic the movement, with almost no delay. Who knew a scalpel could work thousands of miles away . Trish breaking right now everyone, more 120 countries voting against the United States that doesnt recognize jerusalem as israels capital. Rick leventhal is with us. Hi, rick. Reporter trish, the u. S. Gives billions of dollars a year to members of the United Nations, including more than 21 billion to the nations that voted against the u. S. Here today. That includes 600 million to yemen this year and more than 150 million to turkey last year. Those are the two countries that introduced todays legislation opposing President Trump and the move of the israeli capital to jerusalem. Despite warnings from the administration, that money might dry up. Nearly every arab and muslim nation voted to oppose the u. S. And israel today, along with many others, south africa, bolivia, ecuador. Turkey was emphatic. This is bullying and this chamber will not vote to do that. It is unethical to think that the votes and dignity of memberstates is for sale. Let me put it this way. We will not be intimidated. You may be strong but this doesnt make you right. Reporter many argued that the palestinians have equal claim to jerusalem. This will hurt the Peace Process but now the ball is in the president s court. He said yesterday, let them vote against us. Well save a lot. We dont care. The question, will he follow through . The u. S. Ambassador to the u. N. Nikki haley made it clear a vote by the u. N. Wont stop the move of the u. S. Embassy from tel aviv to the holy city. It is our right and also our governments choice where and how to distribute financial assistance. Perhaps not surprisingly the strongest words we heard today most likely came from israeli ambassador to the u. N. Those who support todays resolution are like puppets. You are puppets pulled by the strings of your palestinian puppetmasters. You are like marionettes forced to dance while the palestinian leadership looks on with glee. Reporter the ambassador pointed out that in addition to the nine votes in support of the u. S. , 35 abstained, and 21 didnt show up, which he took, trish, a good sign there is more support than people think for israel here at the u. N. Trish thanks so much. Rick leventhal. Joining me with analysis, fox news strategic analyst Lieutenant Colonel ralph peters. Good to see you, sir. Merry christmas trish, to you and the view years is this a game of chicken . We have the money here if you want to continue to be supported by us, youre going to let us do what we want . Well, preface by saying i think nikki haley may end up as our first female president. I fully support moving our embassy to jerusalem and god knows we can use a tougher line at the u. N. But i think we could have handled this case a little bit better. You have three rules from coal town bar fights. One, pick your fights, wisely. Two, pick fights you can win and three, dont make threats youre not prepared to carry out. In this case, this was not a important vote, a u. N. Tantrum, the kind of stuff they do all the time, politicallycorrect type of things. Two, no way any threats or anything else could make muslim countries vote with us on this because they have, they stirred up so much antiisrael hatred among their own people. And third, the threat was illadvised by cutting funding. We may cut some u. N. Funding. Well certainly not cut funding to countries like jordan or egypt at a critical time like this. Again, i fully support it emotionally but, man, you have to tactically and strategically good and i think we took a slight misstep but my heart is behind it. Trish your heart is behind it. Look, the u. N. , you certainly many times expressed your frustration with the u. N. Sure. Trish you want the u. N. To be able to do more. It is not right that we wind up footing bill to basically be the worlds policeman. That said, weve, you know, previously taken on that role to a certain extent and done that to much success. We say vacated position last eight years, we have the opportunity to come back. I imagine it is fraught with a lot of tensions, when you leave your post and come back, now you want things your way, it will not go so well or so easily. Youre absolutely right. In the obama years proved the limits of the u. N. We have to keep this in perspective. I have complaints with the un, it is useful to the United States. We got sanctions on north korea. Sanctions on the iran missile program. It is largely talk tag shop. Even though some peacekeeping missions although theyre costly, nonetheless better to have troops from togo or pakistan doing the work, to free up our troops to do more important things. So the u. N. Is very, deeply flawed, but were better with it than without it. My bottom line on this, gets back to the fundamentals. Yes, jerusalem is the capital of israel. Get over it, word. Trish thank you very much. By the way, on a personal note, i saw that colonel peters that news cross, i just went good. Thank you. I mean this is, something that to me is one of those obvious things. Why are we getting pushed around by the whole world when israel is our ally . We should be able to declare the capital of israel and have our offices there, regardless of what they think . Yeah, i think really in diplomacy, international relations, a very good rule is to talk less and do more. Just put the embassy in jerusalem. The world will have to live wit. I also think the israeli ambassador was right, that there is actually a far more sympathy with israel than can be publicly stated because the arab states have conditioned their people so much to hate israel and blame israel, that if they suddenly said, even admitted their back channel alliances they have with israel these days, their populations would be out in the street trying to overthrow the government. So they painted themselves in a corner. Lets pick fights that matter, pick fights we can win and sometimes we say throw your tantrum kids, well move on. Trish colonel peters, thank you. You too. Trish new developments, everyone in the uranium one controversy. Were talking about this a lot. There are reports that attorney general Jeff Sessions is reviving an fbi investigation into Hillary Clintons ties to that very controversial government approval of the uranium one deal. Why didnt they do this earlier . Better late than never. We have more on the developing story after this. Round business has been great. Theyre affordable and fast. Maybe too affordable and fast. What if. People arent buying these books online, but they are buying them to protect their secrets . . hi bill. If that is your real name. Its william actually. Hmph affordable, fast fedex ground. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Call 18004944357 today. Your contributions to the American Cancer Society fund valuable research. But thats just the beginning. A cancer diagnosis can kick off years of challenge. And thats where your donation truly shines. You help us fund free rides to treatment. A live 24 7 help line, free lodging near treatment centers. And even efforts to expand access to insurance. So, please donate today at cancer. Org and help attack cancer from every angle. Trish president speaking moments ago as he made his way to walter reed hospital. He spoke to reporters. Lets listen to what he had to say right now. [inaudible] want to say Merry Christmas to everybody. Im heading over right now to Walter Reed Military Medical Center to say hello to some of the bravest people anywhere in the world. Theyre great people. I will come back right after that. Well be over there for a while. But were just going to wish them a Merry Christmas, happy new year. We love those people. Thank you. [shouting questions] trish not taking any questions. I kind of thought he might, right . He has lot to talk about now, a lot to be happy with, with the tax cut getting through. It is not perfect. We know that, but it is very good, at least from the corporate side. Hopefully for the individual as well. We have a market that likes it. 24,812 on the dow. Turn gears here. I want to talk about a story weve been talking about quite a bit here. Remember uranium one . And the clinton fiasco. Justice department make rag renewed push to look at highly questionable 2010 uranium one deal. According to nbc news. They claim attorney general Jeff Sessions wants fbi evidence they found in dormant criminal investigation whether Hillary Clinton and her foundation had a hand in the dealmaking. Dont forget mrs. Clinton repeatedly said this story has been debunked. Really . Joining me to discuss, attorney and host on law and crime. Com, good to see you, jesse. Thank you for having me. Trish kind of seemed like they should have been looking into this. I mean all along, but, as i said, as we went to commercial break, perhaps better late than never. Do you, like me, have a lot questions here . I think everybody has a lot of questions about what this whole deal was about and what the clintons involvement was about. This is tremendous opportunity for the department of justice at the request of attorney general Jeff Sessions to look into this matter. Number one, investigate the fbi agents who dropped this matter. Why were no charges filed in connection with in . I think it is really important because their determination will ultimately see whether or not this is a further criminal investigation or whether a special counsel should be appointed. Lets not forget, the Justice Department was one of the nine agencies that approved this deal, and you need a special counsel in this kind of context. Trish im shocked that they did. It went through a committee. You mentioned the Justice Department, Hillary Clinton, treasury secretary geithner, everybody was somehow okay with this but youre talking about selling a very precious, important, resource to the russians and it is mindboggling it was right out there for everybody to see, and nobody said, hey, hey . In fact, jesse, went through at record pace. This deal went through faster than most. It went through the Nuclear Regulatory commission as well. They approved this. There were legitimate concerns brought to the attention of the state department, namely that the one apart of this, was backed by Russian Military intelligence. They knew they were wiping up all getting all these uranium fields, for what purpose, on american soil . I think there are legitimate concerns. How it went through all nine agencies and the Nuclear Regulatory commission, i think most of the people who hear this story have questions and dont understand how it made it through approved. Trish worstcase scenario there was actual paytoplay. I think a lot of people want that addressed, they wonder how on earth this all went through so easily. Nobody raised a hand to say, hey, hang on, maybe we shouldnt be selling uranium to the russians. I should point out the nrc, Nuclear Regulatory commission has said that that uranium did leave the United States of america, and it did leave canada and made its way to europe and made its way to asia. Anybody said there is no chance it leaves the United States. The nrc admitted in fact it had. So, when we talk about whats actually happening, what are they looking for here . Do they need a email . Who would it be, jesse, if the russians are paying your husband 500 grand per speech, if the russians are giving your foundation millions and millions of dollars, well maybe as secretary of state you dont see the russians as quite the threat that you should have and maybe youre telling all your buddies in the clinton administration, forgive me, the Obama Administration at that time, secretary of state, clinton, youre telling them, hey, the russians are good guys, theyre on our side . When you talk about corruption and specifically bribery youre looking at that nexus. Why did uranium ones chairman donate 2. 35 million to the Clinton Foundation . Why did mr. Clinton receive 500,000 once it became known russia was going to acquire majority interest in this company . Trish they say coincidence, jesse. Just a coincidence. The problem is, only defense is timing of it. That not the only thing. As we say it is quid pro quo, if you receive money at a certain time, doesnt necessarily mean at later date youre not trying to return the favor and i think that is the big issue here. When we talked about, another associate of bill clinton who was part of the uranium one deal when uranium one is formed to what it is now, who is involved with mr. Clinton in acquiring mining rights in kazakhstan. A year later, a year later donated over 31 million to the Clinton Foundation. Raises a lot of questions. Trish a lot of questions. Good it is getting looked into. Fantastic it is getting looked into. Trish well take a quick break. Well be right back. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Ro pectus carefully at alpsfunds. Com amlp ro pectus carefully at trish the dow on pace for another record close as wall street celebrates the countrys big win on tax reform all this as the Commerce Department announces its final go gdp estimate, recording the economy grew at a pace of 3. 2 . Wouldnt you have longed for those kind of numbers a while back, 3 growth, thats good stuff. Joining me right now, ubs Wealth Management Senior Vice President jim lecamp. How are you, jim . Great, trish great to see you trish great to see you. , 821 on the dow do we get to 25 k this year . Market looks pretty strong here. First of all historically the market does do well at the second half of december, so you have the seasonality working in your favor here, but the market obviously likes the tax bill. Its like the idea of tax reform all year. Weve had a 35 corporate rate the highest in the world and now this new bill encourages industry to move money back domestically from overseas and it reduces the tax burden particularly on those small and Mediumsized Companies and thats why youre seeing small caps do really well in here. These are companies that have been spending money on lawyers and accountants to avoid this 35 rate. Now they can look to spend it on property, plant and equipment. I think its the long overdue and in fact the central bankers like ben bernanke and janet yellen have wanted fiscal reform this is good for the markets and should be good for the economy. Trish can we show that yeartodate chart again because this is fantastic jim and we had it up on the screen. Well show it to them in full because can we take the full chart . I dont know if we can do the whole thing on the screen but this is just amazing. Take a look at that everyone. What a win, right from the market, jim, and as you said this was in part because people were expecting tax reform to happen now its here so i guess my question at this point is how much further can you go, is it priced in, given the runup weve seen or if youre getting three, four, even 5 gdp in the coming years what does that mean for market valuations . We dont think it is priced in yet. First of all, the hidden story is that the economy, as you mentioned the economy is accelerating not only domestic ally but the Global Economy is accelerating and we sell a lot of stuff overseas. Secondly inflation remains low. Central banks are starting to raise Interest Rates but very slowly. Its a global but glacial rate hike that were pricing into the market here, so lower Interest Rates, low inflation, and growing economies. I think what we might see is that the earnings are really going to push the market higher where weve seen multiples push the higher valuations push the market higher before, now were starting to see profits push the market higher and i think that could accelerate particularly with lower tax rates for corporations. Trish jim i love talking to you and i certainly love hearing that. Thank you. Thank you, trish. Trish Merry Christmas. All right, markets moving higher up 98 points, jim lecamp saying this is just the beginning. Liz will take you through the close 25 k could be instore. Liz but more importantly, look at the s p, trish. Weve been watching it, it is exactly at an alltime record close. The number to watch would be 2690 oh, its at 2689 now almost there youve got to stay with me to watch that. Weve got Party Poopers on capitol hill at this hour here looking live at the house floor where congress right now is furiously debating the best way to keep the government running. Exactly 33 hours from now unless a deal is struck the proverbial lights go out, Congressional Republicans celebrating their historical 1. 5 trillion tax reform plan this morning but now that reality of a possible Government Shutdown is setting in. The race against the clock is on the path