In front of congress. This is the second day today, today was the senate, yesterday was the house, and the fed chairman says theres always a chance at recession, and guess what . The fed isnt taking negative Interest Rates off the table. She likes that tool. Take a listen. Are you considering negative rates . I know you had that question yesterday. Yes or no . I wouldnt take those off the table, but we would have work to do to judge whether they would be workable here. Beyond the spreadsheets you have to ask yourself does the fed understand the true economy for the average person out there. Peter morici and jon hilsenrath. Lot of frustration on wall street with janet yellen. We didnt know there is double speak, shes a highwire act. What do you make of her testimony yesterday and today . Well, you know, shes in a tough spot because the markets are pushing back on the feds view that the economy is getting stronger and that theyre in a position to raise Interest Rates more and you know, she doesnt want to walk away from the forecast. If she walks away from the forecast as weve seen the last couple of days, makes the market more pessimistic about the outlook. Someone would say, jon, i hate to say this, the fact shes wedded to the forecast is pessimistic. December, notwithstanding, maybe we should not be telegraphing that were wedded to four more rate hikes . I think the message i took from the last couple of days is they are not at all wedded to those rate hikes. You know, theyve got a meeting in march, its highly unlikely given the way she talked and the way the markets behaved theyre going to move in march, you know what we have to look at is whether they revise the forecast down then, and whether the prospects for more rate increases later in the year get pushed off, too. Peter, last week we had the two members of the fomc. Esther george and Loretta Mester were really strong. Esther george telling wall street stop whining, and saying listen, were behind the curve, the december hike was late, and more or less theyre determined to continue down the path, those particular hawks are. I think thats right. Its a much more hawkish policy making committee these days and one that doesnt understand the full gravitas of whats going on in the Global Economy. China, japan, europe, thats 40 of the Global Economy is suffering from severe dysfunctions and strategy for dealing with it isnt just loose money, its cheap currency and completely underestimating the consequences of overvalued dollar for the u. S. Recovery, not just in the export sector, in manufacturing more broadly and comes to essentially investment as a whole. Right now the u. S. Economy is only being carried forward by consumers and they are starting to become hesitant. So i think that the fed is showing itself to be a rather Insular Group that looks only at the u. S. Economy and doesnt have a good understanding of whats going on in the world. On that note, jon, janet yellen did admit that the dollar was stronger than they thought and oil weaker than they thought. While i do admire those sort of revelations on a public stage, it doesnt engender a lot of confidence in the ability to forecast what their actions would lead up to. I dont think anyone could have confidence in the forecast. Theyve been saying ever since this expansion started that were going to be getting closer to 3 growth every year, and instead were getting something closer to 2 . Theyve been consistently wrong on growth and inflation, but you know, just to take their side for a second, whos forecasts have been right in this whole process . You know, you cant look at wall street and say theyve gotten it right. Look at the problems theyve gotten themselves into. Charles no doubt about that, but in is what i will say, john, its one of the things where earlier in the week, wholesale inventories come out. The third negative number in a row, and atlanta fed, their modeling shows gdp 2. 3 to 2. 5 , Goldman Sachs says 1. 7 from 1. 9 , diametrically opposite, how could the fed see good news from the point they hike the gdp estimate . Its all about the models and all got different input us that put into the models. The good news with the Goldman Sachs model and the atlanta fed model, we had 0. 7 growth rate in the fourth quarter, it looks, despite all this noise in the markets, it looks like growth this is not a fast growing economy, dont get me wrong, but looks like its picking up a little bit in the first quarter, so its not all dead. Charles i hope you are right, senator pat toomey asked janet yellen what it hurt small savers, she said it would not. Im not an economist, thats why you are on the show, seems like common sense that negative Interest Rates wouldnt help anyone particularly, particularly small savers and businesses. The low Interest Rates we already have have been hurting the elderly which rely on cds for sometime, and curtailing spending and forcing many back to the labor market. All the other demographics are working less, theyre working more this last decade. Also i think negative rates is really the desperate act of a drowning man. Theyre used in places where they refuse to address the underlying structural problems and this is where this fed comes up short. You know greenspan was not afraid to scold the congress about not taking on big issues. For example, its no small matter that the number of Small Businesses in america is shrinking and that people arent starting Small Businesses because of all the regulations that have been erected. But unfortunately, the fed excuse me for being political is chockful of good democrats right now and frankly a liberal democrat at the helm. They dont want to talk about the consequences of obamacare for restaurant hiring or excessive regulations on small manufacturers. Its not just the oil companies. Its a lot of people are suffering from this, and it costs money and keeps people from investing in america. Low Interest Rates dont help that just as negative Interest Rates are cured in europe theyre not going to cure it in the United States. Can i make a couple points related to that . First of all on the first point about structural problems in the economy, i frankly agree and was surprised that yellen didnt speak up more aggressively, even on Something Like fiscal policy. Ben bernanke used to go in front of and think say you have to address longrun fiscal problems in this economy. If the longrun deficit issues have been addressed they might have been able to do stimulus through the tax cuts or spending. Ideological blinders. Thats one point i would make. The other point about low Interest Rates is this, a lot of the events, the forces that are driving Interest Rates down are actually though we talked about the fed and rates all the time are out of the feds control. Heres evidence, every other central bank that tried to raise Interest Rates since the financial crisis of 2007 and 2009 has failed. They had to turn around and cut them again because economies have not been able to withstand small increases in Interest Rates. And this is exactly what the fed is worried its going through right now. Tried to do one little move in december, and might have to reverse themselves. Because there are larger economic forces pushing against efforts for the rates. Charles this is what peter was talking about, is it we have a country where the Federal Reserve, whoever is running the Federal Reserve and the white house have to be on the same page . Like Ronald Reagan and paul volcker who gave us seriously tough medicine, it was tough for a moment, we came out of it with the miraculous economic run that people dream about. Two points, first of all, the Reagan White House and the reagan treasury fought like cats and dogs with volcker. At one point he threatened to resign because of some of the problems he was having with reagan appointies. Shouldnt glorify the past too much. I think its important to point out that and the people out there listen who aring thinking about who theyre going to vote for in the next election need to think about this. What we need to do to get this economy going is to a large extent out of the feds hands. Its whos going to come up with the policies that best promote economic growth. That best promote productivity growth. That best encourage people to get back into the labor force if they dropped out . The fed doesnt control those things. It happens with other sets of policies. Charles peter, it feels like im not calling janet yellen a social justice warrior, per se, ive seen her slip a few times and say hey, i kind of does that influence her to the degree you agree she wasnt vocal enough this week, with the dangers of fiscal policy on the fiscal side from the administration . I think its in the water of the fed. They are on the same page with the administration. In order to have all the social programs. In order to have all the regulations, you essentially have to have very low Interest Rates to accommodate it. Unfortunately, thats only goes so far. Its not within the grasp of janet yellen to fully understand all of the consequences of all of the regulations that barack obama imposed. You know, look at what Bernie Sanders wants to do and look at what the control of the currency in the Bush Administration wanted to do. Break up the big banks. If you break up the big banks, for example, you dont have to have so many regulators on wall street watching them. Part of the problem is they are so large. But theres a genuine belief in washington and i believe at the fed that business is full of a bunch of cry babies, and push through the regulatory morass and its good medicine for them and it will do them some good. The reality is we are running this country like france, and the more we become like france, the more we grow like france. We dont have jobs for young people, productivity growth is low. The economy doesnt grow and simply rely on the Federal Reserve pumping out a lot of money, but only goes so far. Charles and quick guys, both of you, jon. The major selloff, peter brought up banks, Credit Suisse and society general. How concerned should we be with that, and how does that influence fed policy . You just mentioned two european banks and i think we should be a little worried about whats happening in europe. They have a lot of problems still lurking in their banking system, which never got resolved. You know, frankly when i look at the u. S. Banking system, you know what you can say, theyre not doing a lot of lending right now, but are stuffed with capital and liquidity is in a better position than it was in 2007, 2008, so it looks like that part of the system is more stable. In other words, like it could handle a shock. The problem is it might be able to handle a shock but not going to drive very fast growth. Charles got to leave it there. Were out of time. This is fantastic. Hope to get you back soon, under better circumstances. Thanks a lot. Today we had a major selloff in the market. Global equities markets. Were going to have a recap and talk about maybe where our support, is if that exists anymore . Well be right back. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. Help individualize our Cancer Treatment . 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Oil take a huge hit, it fell to lowest point since may of 2003. Finally settled above 26 and got above 27 in the aftermarket there. Maybe good news out of opec, well see. The question is how vulnerable are equities and where is the next level of support, if that exists. We brought in the old team. Hilary kramer, jim awad and paul sats. Hilary, been a long time, i used to tease you about your rosecolored glasses. How do you feel about the market . The action today and how we closeed . I continuing was very promising that we came back so sharply, that was simply because opec came out, the uae and said were going to try to support prices, venezuela wants to do the same. So hopefully we will see the market turn around and maybe should was a big washout, but it could be problematic. Charles the old school thing, jim, with the capitulation . Heres the thing i see different. Individual investors dont have nearly as many stocks or holdings that they used to at one point, and etfs and mutual funds buying emerging growth, selling stocks for over a year, its the funds, its the fund managers, can we have the classic capitulation or will it be the sort of water torture that were going through right now . It could happen either way. We dont know until we get there. The news is likely to continue to get worse. The economy will slow down, more bankruptcies and some point stocks will stop going down on that news, and that will be a confluence of individual stock pickers, stocks being washed out, valuations getting cheap just like in 08 and 09, the news is likely to get worse, stocks will go down until they stop going down. Charles you are saying when stocks go up on bad news, thats a telling thing. Last night expedia reported, missed by a mile and gave an upbeat Conference Call and the stock went through the roof. The people at disney are saying golly, why dont we do the same thing . This is certainly an unusual market. In the last seven years, we havent seen anything like it. If you remember in 08, and i do not believe this is 08. Absolutely do not believe. The price is following it early in the year, i dont think economically or systemically its 08. If you remember in 08, every time we had a piece of good news, stocks had a day and a half or vertical rally that failed. We need to stop having the spikes onned good news. Charles we havent had any, very few spikes, weve had a lot of bad days, far more than good days. Charles, theyve been intraday spikes. How many times are we going to fall with the same thing with opec . The third time in three weeks weve heard rumors. Charles paul whats the difference between now and 2008 and what degree of risk do you see in the market . First of all, our binks are sitting on 2 1 2 trillion of cash today with no levers to lending, they had nothing on the books and Balance Sheets were falling apart. Unless the banks completely collapse in this country, i give it a 1 chance, you could have a mild recession next year towards the end of this year, this is a cyclical, quick, multimonth bear market, its healthy, its normal, its routine. Ive never seen people people are so despondent and panicky now, this is the same decline we saw in 2011. Charles we have shortterm memories on a lot of things except losing money, okay . 2008 feels like december to most people and theyre afraid. Yeah, fear and greed, but there is a major difference, and thats we had financial armageddon, we had a meltdown. Charles why isnt this financial armageddon . Our banks in the United States are stronger. Charles why is it getting hammered . Why are some of our banks down 20 in the last week . Europe is a problem xerox to watch there. There is some similarity, i dont think its 08. Heres the later. We did it all over again in the credit markets. Last time around it was housing. This time with all the free money, you pushed fixed income investors out the risk curve to get a return, and that facilitated loans that shouldnt have been made, whether it be the energy companies, commodity compani companies but this particular bubble is nowhere near the other bubble. People are afraid its 08. You dont have the leverage in the system, though. Charles we got you, buddy, its extraordinarily painful and everything were seeing here, people were saying on tv back then, too. Fantastic getting the group back together. More on todays selloff later, and why theres no need to necessarily panic or put it this way. If you havent sold good stocks right now, you would be making a huge mistake if you sold right now. Weve been through these rocky times before. Well be right back. At ally bank, no branches equals great rates. Its a fact. 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Kind of like bill splitting equals nitpicking. But i only had a salad. It was a buffalo chicken salad. Salad. Charles make sure you stick with weak dollar investment strategies. That may mean gold and blue chip names. Okay, that was me last week, talking about one way to endure the rockenes in the market and, of course, gold having a huge week this week, but other ways, other strategies after that, can you use to ride through these things, make it more palatable. Hilary, jim and paul are back with me. You talked about the strategies before, i dont want to get too nuts with it with the average person, there are things people can do to weather the storm, right . Absolutely. On the equity side, whats kind of working, if anything is working now, its telecom, its staples, its utilities. Theyre almost dollar agnostic, and they play well in a slowing, weaker economy, nothing is going to play well if the economy crashes, those have decent yields and especially utilities, seeing utilities going crazy. I would not hop on gold here, thats crazy, the glds had a meteoric rise in volume. Historically this is where a pause is, the Slower Growth stuff and the sectors in the market you can certainly be rewarded in the short term. Charles heres the thing, guys, utilities, not only do you get the nice yields but the only s p sector up this year, having said that, consumer discretion, strong dollar, cheap gas, getting hammered every day, where is the disconnect here . The disconnect is everyone is looking for defense and looking to hide. So the place to do it, charles is in these really defensive names like the foods, whether it be hormel, bgf, canned beans, canned meats, go for companies that have also been thrown out, the mid caps, small caps that are value plays. Oln, 4 dividend yield, clean Balance Sheets, meaning theres no debt there to bring the company down and that free money that jim talked about, that has been the problem. Well, and you can add to that the large cap consumer nondurables, people are going to brush their teeth, theyre going to eat cookies, use soap, and those companies are global and have been hurt by the strong dollar, not only will the demand for the product continue to be okay in a recessionary or slow growth time but get the currency benefit. Charles im thinking the dollar is going to go down this year, its telegraphing, im not sure whether its policy related or whatever. I like the old blue chip names that have been crush. It doesnt make sense, the caterpillars of the world are going to have a good year, so thats what im looking at. Paul, do i sound nuts there . So i think that the weakness in the dollar, ill say this, its an intermediate term thing, i have projections to 120 in the dollar index, the dollar goes much, much higher in 2017 and 18. The name us that mentioned and the materials and the smokestack industrial stocks could get it big for a couple of months to a couple of quarters, i think theyre rentals, i dont think theyre owns at this point. Charles whats the worst case, hilary on the downside. 1560. Charles thats the s p . 1560, worstcase scenario. Where we were in 2000, in 2007. That would be the worst case, we would bounce back and come up. Charles probability of that happening on a scale of 110 . 2 . Charles jim, what do you think . Consumer starts to freeze up. Negative growth in the first and second quarter, corporate profits are down, theyll overshoot on the downside and you can get a 15 correction in stock prices. Charles from where we are now . Yeah, if you bought into it, a year and two and three from now, you will be happy. Charles were a little over a week away from the South Carolina gop primary, and the candidates there, most of them are there, hitting the ground, either theyre there, surrogates are there, the ground game is there, this thing aint over. We have a preview next. Ive spent less money than anybody else, and im number one; right . Nice. [cheers and applause] so ive spent less money and then you have other people like jeb who spent more money than anybody else, and hes down toward the bottom of the pack. Is that what you want as a president . Charles that was donald trump laying a little truth on jeb bush last night in South Carolina with only nine days left from that states primary. Donald trump obviously basking in this New Hampshire win. Jeb, though, continues to go on the attack and marco rubio, well, both he and the establishment are now dreaming of a broker convention. Plus donald trump has said no more negative ads. Pulled the ted cruz negative ad and in the meantime ted cruz brings in glenn beck. Who has the best tacts . The battling joining me now. Richard and carl. Katrina, start with you first. Congratulations first time weve spoken since New Hampshire. Thank you. Charles donald trump they say hes going to take this friendlier tactic now is that true . Well, yes, mr. Trump is actually leading by example. I mean as you mentioned he has spent the least amount of money. Mr. Trump does not have super packs smearing people, the one ad he did put up is ted cruzs own words and, yes, he pulled that down. He wants to run a positive campaign sending his message to america on how he wants to make America Great again. Charles sounds like that was richard laughing. I mean come on. He wants to run a positive campaign and he doesnt have attack ads . I mean katrina, come on seriously. We werent born last night. Yeah. Seriously. You cant say that with a straight face because then you look affordable. The simple fact is his entire campaign is negative and its not detailed. I agree with you hes doing great things because he has a whole bunch of help from the media. Hes not spending a lot of money, and hes on top. But you have to look at how this process goes. If donald trump doesnt start getting votes from other candidates as other candidates whittle down, and it becomes trump and somebody else, he could be in trouble if everybody rallies around the opposite vote of trump. Charles katrina. Well, absolutely but heres the thing. I can say that with a straight face because when mr. Trump does criticize his opponents its in public and not in private. Nothing has to be leaked. Hes very real with people charles well, heres the thing hes not running attack ads. He pulled the one thing down. Yeah. But whats the Public Private thing. Whats the difference between public and private . Charles well, let me bring in richard because what hes making is none of these are going to have enough delegates when they get to cleveland and this is going to be a brokered convention more and more reality if some of these establishment empathize move out of the way. What do you make of that . Is this a plot . The only way the establishment can stop a donald trump or is it a legitimate thing . So, charles, if you add up the vote to the quote establishment candidate to New Hampshire, they actually exceed not only the votes of donald trump but donald trump and cruz combine. Not that much but they do. The question is the establishment a real . And thats the question whether jeb or marco or kasich can emerge as a true contenter here or is it going to come down to a knockdown, dragout between cruz and trump . And i think in that case it depends on the conservative the Republican Party wants to be. Donald trump we know is on the typical witness test for conservative doesnt count out. And frankly no one has thrown a punch at him yet. Katrina and i share something. Plenty of people have thrown punches at him. Not really. Absolutely. When you look at ways in which his policies are ridiculous and laughable, his vo. Charles do you make of it, charl . Well, i think the thing to look at here is we have tried all the other people, tried all the other politicians on stage and nothing has gotten done. Hes created jobs, the only one on stage who has created jobs. Tens of thousands of jobs. You also know what hes playing to . Hes playing to the fact that people want a change. He more than doubled the guy right behind him. Charles let me ask you, though, carl what if someone said you could flip that around and say 75 of the voters in iowa did not vote for trump and 65 in New Hampshire didnt vote for trump. In other words, there is a viable there could be a viable alternative to donald trump if somehow they were able to emerge out of that crowded mess that there is. Well, a lot of people are saying that he didnt get that. If you play a poker game with six people and win 10 of the earnings, its not because 90 didnt go to you, it was distributed amongst other people. Charles you think the establishment is done . I think the establishment is really having a hard time with this no. No. Many. Charles, the fact of the matter is we have a whole bunch of people in this race. And thats what donald trump is doing well. Hes got a lot of people that are rallying to his idea that, you know, hes big and loud, and hes new. And i think theres always going to be a big a number of people that large amount of people that want to rally around that. But if we whittle this down and we all of a sudden just have one, two, or three people, the Donald Trump Campaign is going to have to prove that they know how to win over Chris Christie votes, Carly Fiorina votes. Charles right . But right now trump is benefiting from a field of, like, 17, 13, 11, 9, whatever it is. Charles were going to come back on that topic. The gop field did get whittled down this week. In the meantime big money backers are switching to different candidates and that may change the name of the game. Were going to tell you whos benefiting from all the dropouts and who is benefiting from getting new, fresh cash. Well be right back many people clean their dentures with toothpaste or plain water. And even though their dentures look clean, in reality theyre not. If a denture were to be put under a microscope, we can see all the bacteria that still exists on the denture, and that bacteria multiplies very rapidly. Thats why dentists recommend cleaning with polident everyday. Polidents unique micro clean formula works in just 3 minutes, killing 99. 99 of odor causing bacteria. For a cleaner, fresher, brighter denture every day. I thione second its there. Day. Then, woosh, its gone. I swear i saw it swallow seven people. Seven. I just wish one of those people could have been mrs. Johnson. [dog bark] trust me, were dealing with a higher intelligence here. The allnew audi q7 is here. Charles this dude may be a emotionally he knows how to raise cash. 7million and counting since New Hampshire but guess what . The guy theres a guy and a democrat the republican side, hes in the wall street well. Charles well, Bernie Sanders just at a windfall of cash since winning just 24 hours after the polls in New Hampshire. Hes over 2 million bucks the clinton camp theyre really starting to real. But heres the thing. They actually released this statement earlier quote we just cant allow our team to be outraised and spent like this. This team is bigger and more enthusiastic. Its time for us to show it. And then the other side of the aisle, ken has jumped ship was with Chris Christie and now on the kasich train. Richard, ive got to tell you something. I completely written off john kasich. A few debates ago, he looked like the crazy drunk uncle at thanksgiving. Now he looks like the guy who can be a peace maker, he looks like occasionally like the levelheaded guy and people are starting to listen to him and now hes starting to get cash. Youre talking to Richard Charles oh, im sorry. Oh, listened i think that john kasich is somebody that we should take seriously. I think a lot of people on the democratic side would tell you that hes a person in the general election who could really wage a real campaign. But the fact of the matter is what weve seen so far is that money has not really kind of been parlayed into votes; right . Donald trump made it. The point the beginning of your last segment and jeb bush is making the point in the contrary; right . All he spent. So the question but i think the challenge for kasich its money, yes, but can you take that cash . And literally turn it around into troops on the ground not just in South Carolina and nevada but the 13 super tuesday safe, which are going to come up boom, boom, boom, and i just dont know that you can put the money in the bank and hire people as effectively as you might when this kind of little lead time. Charles you know, richard, we were talking about well, let me ask you this, katrina because i sent you one before we went tore break on this notion that donald trump has hit his feeling, and i wanted you two to address that. Obviously strong but he always gets this 30, 34 thing. Is there some worry in his camp about breaking through that ceiling . No. Not at all. I mean when you look at when Carly Fiorina dropped in the polls, he picked up some of that support. Theres a lot of people that prefer someone that is a known job creator and someone that is known to have been able to, you know, to make good deals if you will. And theres a lot of push for that. People are really truly tired of the career politicians. The bought and paid for wall street politicians and donald trump is going to pick up a lot of that support. Charles richard, theres no arguing with that. People hate washington d. C. Yeah. No, i think thats the best message. People are really tired of washington failing and having an outsider come in and somebody like donald trump who has been very successful in the private sector. I think its very appealing when he talks about the economy and job creation, its very appealing. Im not always having a problem with his policies, but i just think that his tactics, his demeaning people, his constantly flying off the handle sends a message that hes unstable. And i think if you put the keys to all of the weaponry that the United States has to offer into the commanderinchiefs hands, you need to be able to demonstrate that you are a calming individual charles real quick, carl, what do you make of that . It sounds like you like donald trump but there are a lot of people saying, listen, why does he have to be so heavy handed with people to make you know, is there a way he can make everyone whether youre black, hispanic, a woman, as enthusiastic about him as those crowds that we see to show up. If you look in the crowds, mr. Trump doesnt see. Did charles im just saying if were being honest the crowds are 98 white. Yeah. Charles but what is it about his message that there arent more people showing up of other nationalities. I think whats happening now is trump is igniting a huge base of people that are angry like you said in the last debate and to katrinas point everybody worries about trump. Oh, trump hit a ceiling, they said at at 5, 10, 15, 25 , and he keeps breaking the ceilings so i dont think we have to worry about him hitting a ceiling. Hes on his way up and not going to be able to stop him. He may not see he spots mexicans and muslims pretty darn well. Something about him charles well come back and discuss that. Weve got goth to go to a break right now and also i want you to know we do have breaking news on Hillary Clinton on her email situation. Not only the foundation but all those other emails weve got the best on this fox news Catherine Herridge is going to help us out with the details. Next at ally bank, no branches equals great rates. Its a fact. Kind of like social media equals antisocial. Hey guys, i want you to meet my fiancee, denise. Hey. Good to meet you dennis. Charles well, the scanned always continue to swirl around Hillary Clinton as investigators have discovered a subpoena that was issued last fall for the clintons issued rather a subpoena to the Clinton Foundation. Meanwhile theres a federal judge that has ordered the state department to make four additional releases of Hillary Clintons emails between saturday and the end of february. Catherine herridge chief correspondent joins us. The hits dont stop coming. Well, there have been a lot of developments in the last 48 hours in addition, charles beware u. S. Official confirms to fox news that more than a dozen email accounts handled the top secret classified information found on mrs. Clintons unsecured receiver and no evidence that they were authorized to receive it. They include not only mrs. Clinton but also her closest aides, as well as state department under secretary for management patrick kennedy. Fox news is pressing the Statement Department on whether a assessment is being done. As your broader question about concerns of spillage or leakage obviously those are concerns that we take seriously and Going Forward well take steps to address those concerns. The department recently confirmed that the messages in question include the most sensitive kinds of intelligence. Fox news first reported some emails on the server were just too damaging to release in any form and the state department consequently announced that the 22 top secret emails were being withheld in full and these were the messages being handled by more than a dozen accounts. A former special operations veteran was 45 years of combined service who worked these special Access Programs says his current and former colleagues are watching closely. That there appears to be clearly a double standard. Had this happened to someone serving in the government their clearance would have already been pulled and they certainly would be under investigation depending on the level of disclosure. Its entirely possible they could even be pretrial confinement for that matter. And on that ruling from the federal judge they basically have given the state department until the end of the month to release the remaining 3700 emails. This group is particularly problematic because many of these emails we understand contain intelligence from multiple agencies and each agency had to review the document and then give their own decision on the classification i anticipate that will go up over 2,000 classified emails by the time this is all over and the state department will also have to confirm that there are more beyond the 22 top secret that are just too sensitive to release in any form, charles. Charles and how does that impact the investigation . Because apparently so few people vein access or can look at or read them. What does that mean . Does it drag this thing out perhaps even beyond november . Well, thats a great question. If there are 22 top secret emails that can never be released in any form and there may very well be more that we learn about in the next two weeks, they really couldnt be used if there was ever a criminal prosecution brought in this case because the defendant always has a right to review the evidence against them. But you have now over 1,600 emails containing classified information of a much lesser level that could be admissible in court and the other Important Development today was the confirmation from the Clinton Foundation that they were issued a subpoena by the state department inspectors general. Thats their internal watch dog over this intersection between government contracts and the fundraising of the Clinton Foundation specifically this clinton aide. This is interesting to us because you probably recall just about a month ago we first reported here at fox based on our on going work that the fbi investigation now had two tracks. Classified email track and then also this public corruption track. At the time mrs. Clinton dismissed this as sort of irresponsible unsourced reporting. But even the Washington Post today that broke the subpoena story cited that. Work and seem to cast on you the on her claims at that time, charles. Charles congratulations, katherine, youve been all over this, and i have to tell you it it is getting worse and worse for Hillary Clinton. Thank you very much. Really appreciate it. Youre welcome. Charles speaking of things getting worse. That selloff was absolutely amazing. Im going to give you my thoughts on it, though. Particularly now a lot of people emailing me, tweeting, wondering if they should sell everything. Ill be right back oh im not a security guard, im a security monitor. I only notify people if there is a robbery. Theres a robbery. Why monitor a problem if you dont fix it . Thats why lifelock does more than free credit monitoring to protect you from identity theft. We not only alert you to identity threats, if you have a problem, well spend up to a Million Dollars on lawyers and experts to fix it. Lifelock. Join starting at 9. 99 a month. Well, theres a Global Crisis of confidence and it all gets back to the idea that leaders must somehow provide prosperity to citizens athe any cost. And im telling you whether its socialist natures of europe, the communist nation of china and the supposedly capitalist nation of america. Where manipulation can take those nations and their economies. Especially when such manipulation is funded through higher taxes, fees, regulations that ironically enough choke off actual sources of prosperity. Its the idea that somehow people wont tolerate hard landing so the levers have to be pulled, money has to be printed, we have to soften the blow. The problem is, though, theres always temporary solutions. The reality is that the powers arent trying to help folks but retain their positions of power. Wevetated hard medicine feathery show i talked about Ronald Reagan they turned around that carter and it wasnt easy. So the market right now is over sold listen, theres no clue about the banks but i still think this is all about confidence that the Federal Reserve in particular. Now, there are a lot of stocks that are sober, so you can start to anybody he will at them if you have the temperatement to do that. But one thing you dont want to do if you just want to stay, make sure you dont sell Good Companies just because the market is getting hammered. That is an ultimate, ultimate mistake. Dont want you guys to make it. Thank you so much for watching tonight. And of course lou dobbs is next on fox business. Good evening, everybody, im lou dobbs. The republican establishment tonight is in complete chaos over the prospect of donald trump as their president ial nominee. Trump dominated New Hampshire and polls suggest he will do exactly the same in South Carolina. The first in the south primary taking place nine days from tonight. But so far neither John Kasich Marco Rubio or jeb bush have succeeded in winning the establishments confidence as the best hope against trump. Trump himself is making sure jeb bushs Campaign Continues to struggle. The last thing we need is another bush