Transcripts For FBC Sunday Morning Futures With Maria Bartiromo 20180205

Content he will join me along with Jim Kallstrom and Alan Dershowitz on that. And the sell off on wall street the worst week for stocks in two years whats behind the plunge what do things look like Going Forward House Financial Services chairman will join me live, and then the deadline looming for a shortterm spending bill are there any obsticles in the way a closer look at that right now as we look ahead on sunday morning futures. Now, the latest on that memo President Trump says that the gop memo released friday completely clears him in the special counsel mueller probe. The president tweeting yesterday on the top being saying that this, that memo alleges the fbi relied excessively on an antitrump dossier funded by democrats to spy on a Trump Campaign advisor. Joining me right now is congressman john rathcliff of texas a member of the House Judiciary Committee one of the only three lawmakers to have actually seen the intel behind the memo the underlying content also with me here is James Kallstrom stromb, a former assistant director of the fbi. Its good to have you both on the program thank you so much for joining us. Nice to be with you. Maria let me set out right off the bat that both of you having worked at the fbi with the fbi, is the experience of having experience with the fisa court, you were both so disappointed to actually learn what you have learned. Let me kick it off with you congressman because you saw the underlying data. Whats most important that we need to understand from this memo . The most important thing not just from the memo but from the underlying documents that i have seen is that full disclosures werent made to the fisa court and why thats so important, maria, the fisa court unlike any other court in america including the Supreme Court doesnt hear both sides. This is a court where the government comes forward and in this case they ask for surveillance on american citizens. Its up to the government to make full disclosure and in this case, in asking for a warrant against someone associated with the Trump Campaign disclosure was not made that that dossier that was the basis of it was paid for by Hillary Clintons campaign, and prepared by someone who has an expressed desire to keep donald trump from becoming president or that the fbi director himself called this unverified. Those are disclosures that had to be made that werent made. Maria so there were a handful of fbi leaders here that go and department of justice leadership , they go to the fisa court to get a warrant to spy on somebody and they dont tell the judge that in fact what they have as evidence which is this dossier which was largely based on getting that warrant they dont tell the judge that that dossier was paid for by the opponent . By Hillary Clinton . Thats right. And not just once, not just twice, not just three times but there were four different occasions for there to be full disclosure and again maria there isnt someone in there to fill in the blanks to give the other side of the argument to a fisa judge so when we give Law Enforcement these really powerful tools for Law Enforcement and Counter Intelligence purposes we trust that the government will use them fairly and fully disclose before they take this type of action and thats one of the things that i was most disappointed in as i reviewed the underlying source documents to all four fisa applications. Maria Jim Kallstrom we know the leadership of the fbi did not like donald trump during the election leading up to the election, peter strzok and his girlfriend lisa page back and forth with Text Messages saying hes this hes that we need an insurance policy should he win, lets get to the secret society. I mean crazy texts like they actually wanted to abuse their power and dictate an ending that they didnt, because they saw a different ending happening. Crazy on that but before i get to that point, johns 100 correct but in addition to that the information was bogus. Sure they didnt tell the judge but they also didnt tell the judge that the information was made up. It was phony. You know, this is a serious serious matter. Criminal contempt, false statements, conspiracy to lie to the court, denying civil rights under the color of law, perjury. I mean these are serious serious things. During my career i was involved in one way or another with literally hundreds of these types of orders, and the way it was looked at was meticulous, the chain of command, the number of people that youd have to sit down and do a mortar board to convince that you actually had a legitimate case to go to the judge and i think these people, that were around comey and the department of justice and elsewhere was so sure that Hillary Clinton had a 99. 9 chance of winning they just threw caution to the wind and they did all this crazy stuff and i dont think weve seen one or 2 what were about to see. We havent talked about the un masking the activity of obama S National Security counsel and uranium one and all this host of other things. Its bad stuff. Maria you bring up uranium one and its an important thing to bring up because the Hillary Clinton investigation seems to have been in even before they interviewed her, the fix was in congressman and i know youve spoken about this before because you actually interviewed james comey at the testimony last september, september 2016 when you were looking at all of the behavior at the fbi and coming up with this conclusion there should be no charges. Let me show this quick clip of you talking to james comey last september. Did you make the decision not to recommend criminal charges relating to classified information before or after Hillary Clinton was interviewed by the fbi on july 2 . After. Maria congressman, he said after. He lied to you. Well i want to give him the opportunity to come back and clarify his testimony, what he said, he said very clearly, what i know now is that he had written an exoneration memo before he gave that testimony saying that he wasnt going to charge her. Ive seen Text Messages, ive seen emails and i have received testimony from other witnesses that are all in consistent with that testimony that he gave to me under oath, so he needs to have the opportunity to come back and either clarify that testimony or assert his own fifth amendment rights. Maria congressman people want to know will there be charges here . Whose accountable for all of this . Well im not in the business any more of charging people but im in an oversight role and i think were very clearly demonstrating to the American People that were trying to restore faith and trust in the department of justice and the fbi. You know, james comey is tweet ing that republicans are attacking the fbi and the democrats are saying the same thing. Maria, before this memo was ever released, more than half the country believed that Hillary Clinton was not charged with mishandling classified information because her name was Hillary Clinton. More than half of the people in this country believed that they would be in the slammer right now if they had done the things she had done so were trying to restore faith and trust in the department of justice and its these types of investigations that can do that. Maria how tough is it to restore this to turn the ship around Jim Kallstrom . Well it has to be a strategy now by the president to in the new fbi director to really lens the fbi of these people that dont respect the rule of law, that have thrown the fbi under the bus, the 99 of agents out there every day risking their lives doing incredible things to look at all of the 300 different federal statutes from the Migratory Bird act to espionage. Maria those guys and gals theyve been let down and this trader bunch of people that basically just, you know look the other way from what their sworn duty was and its just pathetic and i think theyre in deep trouble. I think theres the possible obstruction of justice along with the perjury, the federal records about has been violated numerous times. On the Hillary Clinton case, i mean that was just a sham investigation. Comey brought all investigations on clinton, the clinton foundation, anything to do with the Obama Administration into headquarters, so the whole investigate ever fbi out there in the field offices were basically cutoff from these investigations, so they knew nothing of it and it was a small group of people that conducted this sham investigation and it wasnt a lot of people because they didnt do anything, yet there was so much evidence of Hillary Clintons violation about 12 federal statutes that you could fill up a pick up truck with what were just laying around. Maria so whats the clarity congressman in terms of charges . Give us more clarity in terms of whether we are going to see people being held accountable. First up are there more memos coming out . Are there more Text Messages that the American People need to see . There are more Text Messages that id like to see that we havent been provided yet. Weve requested documents and weve just received a fraction of them, so well continue to look at that. Theres more testimony to be received and these congressional investigations will continue. The Inspector General is continuing his investigation into the doj and fbi decisions that have been made and i do think theres a possibility for i know americans have a fatigue with respect to special counsel but there may need to be the need for the appointment of another special counsel to look into some of these issues. Chairman nunes on the House Intelligence Committee indicated there will be more memos coming out relating to actions of the state department so i know people want justice to move quickly but we have to make sure that we follow due process, and but at the end of the day im confident that we are going to be able to restore peoples faith and trust in these institutions that are vital. Maria im more proud of my association with the department of justice as an institution than i am congress as an institution. I dont want the doj and the fbi to suffer the public Approval Ratings congress has. Maria but talk about the department of justice. The number three guy there, bruce ohr, his wife worked for fusion gps. Did they all know his wife worked for fusion gps the firm that actually wrote what you called nonsense, the selacious dossier that was used for a warrant to spy on an american citizen . Well, thats what our investigations going to reveal. I can tell you that i have looked at the underlying source documents which include more revelations regarding bruce ohr and his wife nellie and the connection with gps. There was a direct pipeline into the doj essentially from the Democratic National committee and fusion gps that is troubling , more bad details are going to come out about that unfortunately who at the fbi was aware of that . Were still determining that. Maria and it feels like, Jim Kallstrom, were pursuing an investigation of potential collusion between trump and russia something that doesnt exist and were not investigat ing something that we know exists and that is this bias and this corruption at the top of the fbi which is why the congressmans comments are so important. When comey was fired, he applied soon after that to be the fbi director. Went to the white house with rosenstein i understand, was turned down for that job and then a day or two later, rosenstein appoints him as the special counsel when there was no predicate crime. Maria yeah. There was a conflict of interest as long as the jersey turnpike and speaking of rosenstein, he signs one of these orders. The Deputy Attorney general signs one of these fisa orders. Now, did he, is he claiming he did not know that this was bogus information . That he did not know the court was not giving the information about the whole, you know, the dnc and is he playing dumb to all this stuff . Maria meanwhile hes tweeting congressman. James comey sent out this tweet. All should appreciate the fbi speaking up. I wish more of our leaders would but take heart American History shows that in the long run, weasels and liars never hold a field, so long as good people stand up not a lot of schools or streets named after joe mccarthy is he kidding me all of this stuff happened on his watch. Hes the king weasel. Maria and they stonewalled you for a year. Youve been asking for documents they keep stonewalling you. What is he talking about with this tweet . I really dont know. Im at a loss to describe his actions, maria. Youre right. He was in charge. It was the Obama Administration as i said that has shaken people s faith and trust in this and if i were a guy that were under investigation by the Inspector General for hatch act violations i wouldnt be tweet ing about this. I dont know maybe its humor. Maria wow. All right. But you know comey and mccabe , sally yates, rosenstein these people all have exposure. These people have all in one way or another told a federal judge a bunch of nonsense. 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Not just airline purchases. yelling holy moly, thats a lot of miles shhhhh whats in your wallet . Man shhhh soi want you to pick a newr truck for your mom or dad, knowing that they could possibly pass it down to you one day. Oh. Cool. But before you decide, you should know that chevy silverados are the most dependable, longest lasting fullsize pickups on the road. Which means that ford f150s are not. giggles which truck would you pick . The chevy. There you go. Boom. That was obvious. Plus it looks cooler. No doubt about it. Now they know what to get me. Maria weeks and months of recordsetting gains coming to an end this past week the stock market taking its worst hit in two years on friday, dow industrials plummeting better than 600 points s p 500 and the nasdac also down on the day on friday, contributing to one of the worst weeks for this market in about a year. Investors are fearing a stronger than expected jobs report will lead to higher wages and Interest Rates higher and bring on inflation. Lets bring in texas congressman jeb henserling, chairman of the House Financial Services committee congressman good to see you. Good morning. Maria so do us a favor and just put together the backdrop for us we know that this market is up 8 trillion since the election, markets dont go straight up but we also know that the atlanta Federal Reserve came out with a prediction last week on friday looking for go gdp growth in the First Quarter of 5. 4 wow you havent heard that number in a long time, a good jobs number on friday 200,000 jobs and yet the market sells off 600 points whats going on congressman . Well, it certainly is counterintuitive for most of the American People to have such a strong underlying economy and all of a sudden see that the stock market reverses. I think part of whats going on here, maria is we know that the Federal Reserve has built up a huge bloated Balance Sheet and we know that at some point that has to unwind and that we cannot have artificially low Interest Rates so the good news is if there was any time to unwind this Balance Sheet, its now in the underlying economy and the fundamentals are so strong and i do remind people obviously theres a lot of volatility last week but i think the stock market is still up 27 for the trailing 12 months. Its still up in calendar year 2018 but in most importantly, we now averaging over 3 Economic Growth and as you well point out the atlanta Federal Reserve says were looking for a whole lot better. The tax cut and jobs act is working, Regulatory Reform is working, and i think the economy will be very strong but the feds got a tough job. Theyre going to have to balance it and ensure they can keep inflation in check and not put a wet blanket off a growing economy. Maria its a good point well ive been making the case this tax plan and the rollback in regulations have a long runway. Youve done a great job in terms of rolling back regulations of course this president that was one of his major priorities. Whats the impact and how long lasting will this economy sort of feel that in terms of the rollback . Because im trying to get a sense of a lot of parts of the economy havent even felt that rollback yet. Well no they havent. The truth is a year into the Trump Administration maria theres still so many offices that hes not been able to get confirmed through the United States senate because democrats are dragging their feet, so really in some respects youre only seeing leading edge of the tax reform plan. Youre only seeing leading edge of the Regulatory Reform, but what i do know is when you measure regulatory burdens, by number of pages in the federal regulation six of the worst seven regulatory years in our history took place under the Obama Administration. Maria hold that thought right there. Congressman hold that thought. We want to take a short break and continue narrator evamarie smoked 12,000 packs of cigarettes over 15 years. She quit and now theres a new lung Cancer Screening that could save her life. You stopped smoking. Now start screening. No matter how much you smoked, Early Detection could save you. Talk to your doctor or learn more at savedbythescan. Org maria and were back with congressman jeb henserling, chairman of the House Financial Services committee and you were making an important point and that is under the Obama Administration one of the highest in terms of regulation. Explain that burden and why its so important to rollback those regulations because almost instantaneously as soon as the markets and the Business Community figured out that regulations were coming down they started spending again. They opened the Purse Strings and started investing looking for growth once again rather than sitting on cash as has been the case. Well, again, and as i said on your show before, it was once you stop the beatings, morale improved so all of the Trump Administration had to do was quit putting out regulations and strangling red tape on our American Business enterprises and they see that and then the Obama Administration, you know, i had one businessman tell me that my whole business depends upon what side of the bed a bureaucrat wakes up on. Its an erosion of the rule of law. People were having to actually calculate Political Risk in the United States of america and it was the cost. It was the complexity. It was the uncertainty of it all thats going away under the Trump Administration and the president has exceeded his own goal, its not just, you know, getting rid of two regulations for every one new one on the book. Its 20 for one. Maria real quick though congressman, are you worried about wage growth, 2. 9 wage growth in the last year from that jobs number on friday and rates are going higher these are the worries from the market not to mention there is worry about whats going on with nafta but thats a whole other conversation. Do you worry about higher rates and higher wages . Well the only thing i worry about right now is my teenage daughter getting her drivers license. Maria big trouble. Yes, it is, so wages do need to go up. We know that any time we finally have a strong economy, were going to have to deal with higher Interest Rates and the fed was going to have to manage a tough problem but again with the fundamentals of the economy so strong no its not something i worry about and i believe and hope this fed will be up to the challenge again, to unwind something that, you know previous fed really put together maria all right we will leave it there congressman good to see you sir thank you so much, joining us there, talk about the economy and that market selloff. Going into the midterm elections the republicans have two big stories better economy and abuse of power on the other side. Republicans release that memo accusing the fbi and the Justice Department of abusing their power, their surveillance power in investigating a former Trump Campaign advisor. Democrats are saying the memo is misleading and leaves out pertinent information my next guest says congress should create a nonpartisan commission , joining me is Alan Dershowitz harvard law professor and a Fox News Contributor alan always a pleasure your thoughts on what we know so far, based on this memo . Well we know a lot of things. We know that the fbi exaggerates the National Security threats when they refuse to declassify memos that might embarrass them and that has to stop. The public has the right to see material unless the National Security is in danger and we heard the phony argument recently to try to stop this memo there coming out now we see the memo and theres absolutely nothing in it that in any way affectS National Security thats number one. Number two we have to worry generally about the fbi when theyre getting fisa requests and warrants that they dont make full disclosure that because they have the right to get exparty warrants without the other side being involved they have a special obligation to make sure that they disclose everything, even the negative aspects of it and we no one thing for sure, they did not disclose that this dossier came from a bias source. They should have disclosed that. This is a systemic problem not just a problem in this particular case. What i worry is that this may reflect a general approach that the fbi takes when they get fisa warrants, disclosing only what they want to disclose and not telling the court about information that might lead into a different conclusion. Maria well congressman ratcliff is one of three members actually seeing underlying content and the intelligence here. He says theres more coming particularly were going to we may hear more about bruce ohr the number three department of justice official who his wife was working for fusion gps the whole time, and fusion gps wrote the dossier. What we need is an objective assessment of what the public is entitled to see. The fbi should not be making that assessment because theyre bias in favor of protecting themselves. Maria are we going to see charges, explain the process here. How is the American People going taphole like theres accountability here . I mean obviously there was a massive abuse of power at the top of the fbi. We know that now to be true. We have to see the entire dossier. We have to see the entire application, so we can make a judgment about whether think was an abuse. See i dont believe distinguished what a lot of your guests do this was necessarily partisan sure guys like strzok care deeply about trump losing and clinton winning. I think for the most part, its overzealous prosecution that transcends partisanship and thats why every american, liberal, conservative, democrat republican has a stake in making sure that the fbi remains accountable and follows the law and follows the constitution. Thats why ive suggested from the very beginning a non partisan commission that could stand for and represent all of the American People not the partisan bickering that grow s out of committees when the republicans release part of wont release the democratic part of the report. We have to make sure non partisanship protects all of the American People. Maria well its not just the fbi by the way we would like to see that at the irs as well but i seem to remember targeting of conservatives at the irs as well a couple years ago. How far up the chain do you think this goes, alan . I mean obviously when you consider the unmasking when you consider this fisa warrant that they were able to get even though the evidence that they were presenting was completely bogus, does this go up to president obama . Well, we have probable cause now. Thats all we have is probable cause because we havent seen all of the documents for believ ing that there may have been some partisanship or overzealousness. Probable cause means there should be further investigation and it should not be by congressional committees because we get two truths. The congressional committees produce a republican truth and democrat truth. Maria and by the way the special counsel, alan, are we ever going to hear from mueller in terms of this evidence of collusion . Is he going to look at all of this stuff as well . How long can this investigation go on with no evidence of suppose ed collusion . Hes going to come out with no indictments of anybody important, certainly not of the president but then hes going to try to issue a report to congress in which he doesnt come to conclusion, he just lays out all the evidence and lets congress decide, thats not good enough. Again, we need a nonpartisan commission to make sure what the russians did in this past election is never repeated, this is not about whether the russian s wanted a particular person to be elected president. Its about the russians trying to destabilize the american elections. Maria this is the stuff of banana public. Alan dershowitz thank you for after a dvt blood clot. I sure had a lot on my mind. My 30year marriage. My 3month old business. Plus. What if this happened again . I was given warfarin in the hospital, but wondered, was this the best treatment for me . So i made a point to talk to my doctor. He told me about eliquis. Eliquis treats dvt and pe blood clots and reduces the risk of them happening again. 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I was wondering if an electric toothbrusthan a manual. S better and my hygienist says it does but theyre not all the same. Who knew . I had no idea. So she said, look for one thats shaped like a dental tool with a round brush head. Go pro with oralb. Oralbs rounded brush head surrounds each tooth to gently remove more plaque. And unlike sonicare, oralb is the only electric toothbrush brand accepted by the American Dental Association for its effectiveness and safety. My mouth feels so clean. Ill only use an oralb. Oralb. Brush like a pro. Livin in this crazy world so caught up in the confusion nothin is makin sense for me and you maybe we can find a way theres got to be solutions how to make a brighter day what do we do . Weve got to give a little love have a little hope make this world a little better try a little more harder than before maria welcome back the declassified fisa memo firing up heated debate in washington. The memo shows the top Law Enforcement officials misused surveillance tools to spy on a trump aid. If the report does prove abuse at the fbi and the doj what is the next step . My guest new york congressman peter king says open hearings. Hes the chairman of the subcommittee on counterterrorism and intelligence and sits on the Homeland Security committee. Congressman always a pleasure to see you thanks for joining us. Thank you, maria. Maria what do you want to see take place here . People want to see accountability were well aware of what took place at the top of the fbi around the election. Well the Intelligence Committee we have to finish our investigation of the hough collusion issue and i can tell you right now as far as im concerned theres been no evidence of any collusion whatsoever. We still have several witnesses to go through. We will have to issue a report on that. We also will be doing a report at least analysis of the cia and the Intelligence Committees assessment last year about russia and the Trump Campaign and i think the American People are going to see that really this has been 15 months of a sustained attack on President Trump by certain people in the Intelligence Community certain people in the fbi and what their motives are im not going to jump to that conclusion yet but certainly its been very improper conduct, very bias conduct, whether theyre aware of the bias or theyre just living in an echochamber i dont know but whats happened to the president of the United States a duly elected president should never happen again so well go forward with that. Ive said the other day i think right now since most of our work in the Intelligence Committee is done behind closed doors i think the house jew dish your it committee should certainly look into all of the allegations and all i believe the solid Fact Foundation we have in the memo that we released the other day. Maria and we just heard from congressman ratcliff on the Judiciary Committee who basically said the investigation of Hillary Clintons emails it was the fix was in, and joel actually admitted later that he began to write the exoneration memo before he actually interviewed him and yet, we continue to hear from joel here is his latest tweet, congressman look at this. He said this is after the memo was released. Thats it . Dishonest and misleading memo wrecked the house intel committee, destroyed trust with Intelligence Committee and exposed classified investigation of an american citizen, for what doj and fbi must keep doing their jobs. Can we just pick apart this tweet for a second . Destroys trust within the Intelligence Community . Hes been stole walling congress for a year, unwilling to give up the documents that actually prove that there was, that there was abuse at the top of the fbi and then he says in excusable exposed classified investigation of an american citizen . Um, didnt this from the guy who actually leaked classified information to his friend who is a profess o with the whole intent of getting a special prosecutor. Is he serious with these tweets . Yeah, maria since december of 2016 weve had constant leaks coming from the Intelligence Community coming from the Justice Department coming from the fbi, they usually go to the Washington Post and the New York Times revealing classified information and these criminal activities being carried out by people in the government. Nobody is investigating it nobody looks into anything after joel im always defended him but what hes doing here is totally wrong but by us putting out a memo which did not reveal any classified information which did not reveal sources or methods to say that somehow were compromising National Security or were putting credibility to the Justice Department and the fbi at risk when he was there as head of the fbi and stuff was appearing all over the place whether it was from him, his office, the Justice Department coming from secret investigation s being carried out and the testimony and facts are going out often they were misleading, they were out of context or totally wrong. All this was being done to hurt President Trump and now, when we come back with an honest assessment somehow hes saying were the ones creating the issue . Im very disappoints in jim comey and i thought that tweet coming from a guy who was a smart lawyer who knows what hes doing and sounded like a handout from the Democratic National committee. Maria its incredible actually. Where will the accountability be , congressman . Tell us how you see this playing out in terms of actual charges. Again, i think we have to have a congressional investigation. I like what Alan Dershowitz says that we can have a commission come and also to Jim Kallstrom. This, again, this is full scale investigation of President Trump for collusion. So far nothings come up and we want to Start Connecting dots about collusion against the Trump Campaign, theyre out there and whether or not this is criminal, whether or not what was done should have been done. I think certainly violates procedures and definitely unethical and could well if a prosecutor wants to find crime i think it can be there but i dont want to jump to conclusions like they have against President Trump but i think we have to have congress fully investigate and i think the Justice Department should look at did people in the fbi did people in the Justice Department intentionally withhold necessary evidence to the fisa court and continue, continue that nonsense through one plus three, four total fisa applications here. Maria because basically the people who brought the warrant and asked for the warrant from the fisa court, they knew that the democrats paid for the research right . They knew it and also, you know its not just they didnt tell a judge. They may have said it was political motive but it was not paid for by the Democratic National committee or the Hillary Clinton campaign was involved and also the only real fact that ive been able to track down in the dossier is that Donald Trumps lawyer Michael Cohen was supposed to have met with a russian agent in the czech republic. That totally untrue. Michael cohen has never been in the chuck republic so Everything Else from there is slandering. Maria right before you go congressman look its pretty clear that the democrats just do not like this president. They hate this president frankly , and they want to regain power so that they can move to impeach him and theyre not doing anything in terms of messaging or in terms of doing or having a plan to the American People. It feels like this president has just put the left in a box with this immigration plan because hes actually offering more than what theyve asked for the dream ers if they say no to this, its obviously going to just be well we just want to resist because hes just offering what they wanted. He offered three times more than what they wanted. Maria right. So will we see a deal on immigration, tell us about daca and immigration and what is to come in the coming weeks. I certainly hope there should be a deal get this off the table take care of young people and again if the democrats are turning down it should be an issue against them in the campaign. Were trying to get it resolved. The president wants to resolve it and Chuck Schumer said he would put money to the wall if the president gave a form of status to the dreamers. He was talking about 800,000 dreamers, now President Trump says he will give it to 1. 8 million dreamers. Maria right. And Chuck Schumer says no because he cant pay for the wall so they box themselves in i believe and its important for republicans to stay on this and address it in an intelligent way maria well see. The president leading the way maria this is going to be an important test to see how Chuck Schumer and nancy pelosi respond , since its much more of them what they wanted actually. Peter king thank you, sir. Always a pleasure to see you. U. S. Stocks taking a serious tumble after a strong jobs report our panel is up next with all of the above. Were looking ahead right here on sunday morning futures stay with us. How do you win at business . Stay at la quinta. Where were changing with stylish makeovers. Then at your next meeting, set your seat height to its maximum level. Bravo, tall meeting man. Start winning today. Book now at lq. Com start winning today. The great emperor trekking a hundred miles inland to their breeding grounds. Except for these two fellows. 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We learned that some things do scare investors higher Interest Rates, inflation, higher wages, a report showed economy added 200,000 new jobs in the month of january and that wages are up 2. 9 yearoveryear that sparked Inflation Fears the dow fell on one of its worst days in two years, down 666 points on the dow lets bring in mary kissel of the wall street journal and lee carter, great to see you both. Thanks for having us. Maria so whats your take. All good news and yet we have one of the worst days for the stock market. Well the stock market is different from the economy, think about the obama era, maria where we had trillion dollar annual deficits red tape higher taxes higher healthcare costs and stock markets went up because the fed was pumping up the stock market. Look, this is a different kind of market wages rising as you just said, job creation, more Business Investment so, you know , i think what theyre worried about is that the fed is going to raise rates too fast and kill this off but you know what . If donald trump had won in an independentminded Federal Reserve chairman he would have picked a guy like john taylor and he picked jerome powell. This is an easy money guy somebody the white house can control. I surveillances those easy money policies will continue but also on the other hand that well see real growth generated from tax cuts and Regulatory Reform. Im not too worried about this. Maria im not either because youre actually seeing relatively low rates even with the little bit of a move that we saw, and this is all happening for the reasons you wanted it to be happening that wages are finally going up. Thats right one of the things i think everybody is talking about the number but were not talking about the percentage of the fall as much of that and its 2. 6 . Weve had 2. 6 fall the day after a state of the Union Address by both bill clinton and obama. This isnt that big of a correction, so i think we have to keep that in mind percentage wise. I also think that theres a number of factors that people arent talking about it could be the fact the Pension Funds re balanced and started and are shifting elsewhere, but i dont think that and i think people are panicking so lets look how the asian markets open and see if its really a continuing trend. Maria yeah, i mean by the way, youre seeing a market still up in the trillions since the election. 8 trillion in market value gains since the election so markets dont go straight up. Yeah, but look markets go up and markets go down so lets be careful here too. Donald trump has also imposed some policies, trade policies that could bring that market down. Weve also got a treasury secretary talking down the u. S. Dollar so there is also stuff that can go wrong here and i just want to be sure that we say that. Maria there are risks for sure, higher rates is one of them but if we have some kind of a trade war and on friday there was a headline that said just in Justin Trudeau is not afraid to walk away from nafta talks i think that accelerated things ive got to get your take on the memo and whats going on at the fbi the panel deals with that when we come right back and look ahead on sunday morning futures stay with us. Nick was born to move. 3 toddlers wont stop him. And neither will lower back pain. Because at a dr. Scholls kiosk he got a recommendation for our custom fit orthotic to relieve his foot, knee, or lower back pain, from being on his feet. Dr. Scholls. Born to move. You or joints. Something for your heart. 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And now, get a 200 prepaid card when you buy an iphone. Its a new kind of network designed to save you money. Call, visit, or go to xfnitymobile. Com. Maria welcome back lets end on our top story President Trump says a newly declassified memo vindicates him when it comes to the russia investigation were back with our panel mary kissel and one of the really Different Things from this memo was the fact that we have learned that when they went the fbi went to try to get the warrant to spy on an american citizen, they did not tell the judge that one of the major pieces of evidence, the dossier, was paid for by the Hillary Clinton campaign in the dnc. Look maria that is a material omission. That in and of itself is the story here. Everything else is just smoke but look, i dont think the media in mesh has even read the steele dossier were talking about just the fact that the fbi used that and submitted it to a court, its garbage, maria, that they used that to establish probable cause is cause for concern, then you add in the fact that you had Everything Else going on with the fbi, comey, the way that he treated the clinton aids. Weve had six top officials now. Maria the fix was in. The fix was in. It will be a lot of distraction here and the media wants you to think about other things but just focus on the fact that the court was mislead, that is a great problem that signals a big problem with the fbi. Maria well we have six doj or fbi people that have been fired or reassigned. Thats right. Maria this is real stuff. Theyve obviously been reassigned as a result of the Inspector Generals work. Thats right and i think one of the biggest surprises to me is when i looked at it im outraged but when you talk to the American People theyre not sure what to believe. You talk to republicans they are saying this is the worst thing ever and if you talk to democrat s theyre saying the republicans are trying to undermine the fbi and everybody in the middle is saying where do i get the facts because all im hearing is one side or the other and what people need to focus on is here are the facts. And just as you were saying this is paid for by the democrats, before that it was paid for by Opposition Research against donald trump and you can not ignore that. Maria but i mean going into the 2018 midterm elections the republicans have two story lines number one a good economy because obviously we see these bonuses were talking about 5. 5 Economic Growth and then you have abuse of power on the other side. These are the two things thats why the numbers have changed. They absolutely have changed and significantly. Were looking at where it was sure the democrats had much higher favorability the republicans are with no question about it and last two months weve seen that gap close to just 2 so the democrats are really confident they will sweep these midterm elections i would not be so sure. They have no method to their madness. Thats true maria you can get the news from the wall street journal editorial page or this show. The fbi mislead a federal court. That is the story here. Again, Everything Else is just smoking mirrors. Maria you want to be able to and you and i have spoken about this before you have to have trust in the federal agency whether its the fbi or the irs they have an independent look. Otherwise why do we say we live in a free country. And the other thing too we learned from the memo this steel ex fellow, he leaked to yahoo news and the fbi used that story in its submission to the court, so there are a lot of questions here. Maria and they kept submitting right . And they also fired him and did not notify the court. Maria and youre supposed to have new information when you go for renewal of the fisa warrant. Incredible. Ladies thank you. Thank you so much. Maria both have a great sunday everybody ill see you tomorrow morning on the Fox Business Network mornings with maria 6 00 9 00 a. M. Eastern join us tomorrow Morning Bright and early first here is fox news and early first here is fox news and mediabuzz today, innovation in the finger lakes is helping build the new new york. Once home to the worlds image center, new york state is now a leader in optics, photonics and imaging. Fueled by strong university partnerships, providing the worlds best talent. And supported with Workforce Development to create even more opportunities. All across new york state, were building the new new york. To grow your business with us in new york state, visit esd. Ny. Gov. To grow your business with us in new york state, you may reveal. And the reign continues. Oooh. As the earl of sandwich, i dub thee. The sandwich gasps brilliant well played my lord there was a time when the next big thing in food was stuff between bread. Now, the next big thing is the Capital One Savor card. Earn 3 cash back on dining, 2 on groceries, and 1 on all other purchases. Whats in your wallet . Tonight on war stories the red menace was on the move against south korea. It was the first battle of the cold war. Striking where no one expected. It was like sending this a Grammar School Football Team against the nfl. They were butchering civilians. Pretty soon it became every man for himself. The battle for the perimeter. Thats next on war stories