Transcripts For FBC Varney Company 20171129

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$5.9 trillion. the tax package, the driver right now getting closer and closer to a done deal. in the senate committee will be procedural motions, then 20 hours of debate, then the tax cut vote should be by friday. believe it or not, it is possible senator mccain will pass the deciding vote. he killed obamacare repeal, will he kill tax cuts? we simply don't know. will claire mccaskill vote yes? that too is possible especially after president trump speaks in her home state of missouri today. he will say tax cuts, quote, poor rocket fuel on the economy. just let missouri voters want to hear. senator mccaskill is up for reelection. have we got a show for you, including nbc's matt lauer has been fired. "varney & company" is about to begin. ♪ this is truly a bomb show. nbc not lower its outcome is fired from the today show. here's the reaction from savanna guthrie in the morning show today. roll it. >> for the moment, all we can say is we are heartbroken. i'm heartbroken. matt is made dear, dear friend and partner and he's been loved by many people here and i'm heartbroken for the brave colleague who came forward to tell her story and many other women who have their own stories to tell. we are grappling with a dilemma that so many people have faced these past few weeks. how do you reconcile that her love for someone with the revelation that they have behaved badly and i don't know the answer to that. but i do know that this reckoning that so many organizations have been going through is important, long overdue and i must resolve and work places were all women, all people feel safe and respected. as painful as it is, this moment in our culture and this change had to happen. stuart: lives is following this story appeared was a lecturer done? liz: reporting a female nbc staffer monday night filed a complaint with nbc saying she was sexually assaulted by not lower. that is the reported term, during olympics coverage in 2014 paid the same staffer reportedly said she is more evidence of other women, plural, also being harassed or assaulted by matt lauer. he spent 20 years at the network, reportedly 25 million in compensation. now the franchise is in. we are tracking the complaint came in to h.r. monday night and they quickly moved to fire him. stuart: did nbc still say there will be more to come on and not lower case. transfer reason to believe it may not have been an isolated incident. train to a rapid up with that. this is looking good attacks are rising high and here's the president tribe just treated. consumer confidence. and the fiscal times. news economy economy is growing. tax cuts but distinctly possible. 24,000 on the dow today, tomorrow, friday. >> we are very close in this market is being fueled as president trump said by a host of factors, some of which do have to kind of beginning -- he has to give credit for. consumer confidence by the early two thousands. why is that? people are looking for to the tax cut, job growth is better, all the things donald trump campaigned on and by the way, we've seen this last week a very big move on the regulatory stranglehold on not just the financial year, but the story that will evolve because it's not as visible as tax reform. tranter comes down to john mccain on which way he may vote. >> one is mccain a detail of not going along with tax cuts. secondly he's obviously been a disrupter to the trump agenda because he doesn't like donald trump. third, "the new york times" and the democrats are terrified that this is going to happen. picturing john mccain from the point of view of "the new york times" has the potential savior of the american people by not allowing their skin is stepping in way of it, they are trying to feed his vanity and inclination to basically step in the way of trump. stuart: good stuff. stay there, please. president trump used senator schumer and nancy pelosi's absence of the congressional leadership reading yesterday as they fought a lot. watch this. >> chuck schumer and nancy pelosi did not show up for a meeting today. i'm not really that surprised. we have a lot of differences. they decided not to show what appear they've been all talk and no action and now it is even worse. now it's not even talk. so they are not showing up for the meeting. trade to keep out which is here with us in new york. why did mr. schumer and nancy pelosi why did they cancel? kind of looks like sour grapes. like nancy pelosi is claiming she canceled because president trump is issuing verbal abuse against her and is no longer -- he responded on twitter to the president photo op as he said his verbal abuse would no longer be tolerated. this is really about democrats always wanted the budget and taxes on their own terms despite losing elections. if you go back in history and look at the previous shutdowns that the government and the things chuck schumer and nancy pelosi has died, and it always warned about the extremism that comes for shutting down the government, the vast consequences, and so now that they can't get exactly what they want, they won't even show up to the table. stuart: with the republicans maintain their majority in the house in their 50, 51 votes in the senate, and they can push through a budget and a debt ceiling. >> that's questionable because they do need 60 votes to get it pushed through. because they only have 52 republicans, they need some democrats support and now i guess they are saying we are not going to show up unless we talk about this before him. mitch mcconnell made a good point yesterday. he did show up with paul ryan and he said i would have never imagined when we were in the minority. who doesn't show up for work. washington and that's pretty difficult. >> the question is who gets the blame if the government shuts down. >> usually republicans. however, i'm not so sure they are going to get the blame. either way, i want to make sure people understand when we say government shut down, it sounds extreme, really scary, but the essential function of the government still go out. social security checks tokelau. it's not an put on hold. not as extreme as everyone expects. stuart: who won the politics yesterday, mr. trump? >> the president won the politics of the visual of the empty chairs. the average american looks at that and those i showed up to work today. why aren't they showing up for a meeting at the white house? absolutely ridiculous. one week until the resolution expires. they have a lot of work to do. stuart: kittie pavlovich, welcome to new york. let's get to the north korean missile launch. the bottom line on this launch, liz, they can now hit americans. liz: that's correct. fallen in the standard tree, meaningtr saight,ot sho up into the air could've traveled 81 miles capable o hitting washington d., new york anywhere in e mainland, als entedre a car come anywhere in the world according to james mattis. stuart: stocks went down on the news of the launch. then bounce back up again because america didn't try to shoot the missile downed in mr. trump very calmly said it'll be dealt with. liz: and south korea launched a battery of missile tests right up to the time of the launch. stuart: there is the south korean response launching some of their own missiles, not at north korea. there was a defensive missile. check this out, please. look at this. very rare pink diamond. almost 15 carats, sold at christie's. we will tell you how much it went for. by the way, we are talking tens of millions of dollars. two congressmen introducing a bill to fight the opiate epidemic. to limit the number of pills you can get a prescription. jim renée c., mark meadows will lay out the plan in the 11:00 hour. drum terrace behind benghazi attack convicted on terrorism charges acquitted on murder charges. he might spend the rest of his life in prison but he does not fight the death penalty. the judge on that next. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor. stuart: at espn as a unit of disney and has announced 150 more layoffs. doesn't hurt the stock of 10373 at the fraction. chipotle, how is this responding to the founder stepping down as ceo responding very well, up four points 7%, $13 gain just shy of $300. founding ceo steps aside. amazon, cybermonday very big for all the online sellers. give me the big number, liz. stuart: at 81 million overall on cybermonday. 77 million black friday for the entire weekend, 174 million people shop. here's an interesting stat that we were talking how to avoid the political fight at the dinner table on thanksgiving. some people in my family would fight but the turkey if they could. one out of five started shopping online in the middle of dinner. >> placing an order, i love it. stuart: the holiday taken over. serious subject here. online shopping is very serious and so is this. cleared of murder in the 2012 benghazi attack or judge napolitano is here. a federal jury found him guilty of four of 18 counts or they didn't find him guilty of murder. was justice done in your opinion? >> in my opinion justice was done because they were very vague. the governments own evidence of the use of a cell phone shows he wasn't there at the time this happened. it arrived faster with in the principal witness who was brought from libya to washington d.c. to testify against him or build underwrote the government paid him to get this testimony $7 million of bribed testimony. absolutely outraged and offended the jury. it should be enough to send the prosecutors to become defendants themselves and affects prosecutions when you do something like this. stuart: you think justice was done? >> they have enough to lock him up for the rest of his life on other allegations, but not enough to show a planned, plotted intentional murder. stuart: you heard the news about matt lauer fired at nbc. is there a business angle here? >> yes there is. 25 million a year into an half years to go on his contract if he was literally fired, then they had then they had then they have to exercise a clause in the contract, which permits them to do it, a morals clause or a good conduct clause. the wording is different depending on who the employer is. often in cases like this, because he is huge in our industry, lawyers will say okay, you fired him. give us back then we won't sue you. x is something less than what he is sued, so often there is some sort of a financial deal for him to go away so nbc can bury this story. if he does sue them, i would have to be you didn't give me an opportunity to defend myself. this happened in 48 hours. did i not given due process, but they have to be basically fair. an allegation they have to investigate and ask them about it. stuart: the today show brings over $300 million a year now protecting revenue. that's my understanding an awful lot of of revenue and is leaving mesa showing chaos. stuart: will soon find out if that is the loss of advertising revenue. the guessing game has begun, which is who will replace him. i don't know who, but i've heard names. stuart: they will throw your hat into the ring. can you imagine them having me? [laughter] stuart: what a story. i find it hard to believe all this stuff coming out now. hold on, listen to this. we just got this tweet from president trump. now that matt lauer is gone, when will the fakeness cracked missionaries at nbc be terminated the contract both phil griffin and will they terminate low ratings joe scarborough based on the unsolved mystery that took place in florida years ago? investigate. there is a provocative street if ever i saw them. stuart: okay, move on from there. >> we won't talk about the unsolved mystery, but we know what was there also. stuart: let me move on, please. a picture of the trump administration. mick mulvaney, the president take two and a watchdog administration, the cfpb can keep his job. more "varney" after this. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. the pen where you don't have to see or handle a needle. and it works 24/7. trulicity is a once-weekly injectable medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. it should not be the first medicine to treat diabetes, or for people with type 1 diabetes or diabetic ketoacidosis. do not take trulicity if you have a personal or family history of medullary thyroid cancer, if you have multiple endocrine neoplasia syndrome type 2, or if you're allergic to trulicity. stop trulicity and call your doctor right away if you have a lump or swelling in your neck, severe stomach pain, or symptoms like itching, rash, or trouble breathing. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases your risk for low blood sugar. common side effects include nausea, diarrhea, vomiting, decreased appetite, and indigestion. some side effects can lead to dehydration, which may worsen kidney problems. to help lower my a1c i choose trulicity to activate my within. ask your doctor if once-weekly trulicity is right for you. ♪ ♪ or a little internet machine? [ phone rings ] it makes you wonder. shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. choose by the gig or unlimited. and ask how to get a $200 prepaid card when you buy any new samsung device with xfinity mobile. a new kind of network designed to save you money. click, call or visit today. stuart: look at this printer does getting awfully close to 24,000. could happen today or tomorrow. growing faster than we thought. but in the task a deal could be very close. oppose the market could stay right here you'll see your money grow. president trump called as senator elizabeth war in the middle of a celebration of navajo code talkers. he called her pocahontas. you've written about this and you say there is a direct link between senator warren and this mass at the cfpb. >> where we litigating value this consumer financial protection monday which is the brainchild of elizabeth worn and she is the biggest advocate. there is a massive sometimes to the seeming madness, which would basically take her down a peg by calling her pocahontas and reminding everybody that she did like about her native american ancestor and various forms, defer to her career, she said not, but already the conversation goes to that issue and controversy, which is sort of demeaning of elizabeth warren not to the value of the cfpb, which is not what value because it is yet another regulatory agency logged onto the top of seven other regulators of banks. it's a ridiculous story that watched it for years, really makes no sense. stuart: senator warren hates banks come to detest capitalism. she created this consumer financial whatever, cfpb. >> she doesn't trust banks and bankers. stuart: not accountable to anybody. she appoints, recommends the person is going to run it, richard cordray. she recommended the person to replace richard cordray urges apoplectic president has stepped in and said no mick mulvaney will run it. >> mick mulvaney did an excellent job of explaining the biggest flaws in the senate of the cfpb. if you are harmed, you have no recourse. you can go to congress, can't go to the white house. no other agency behaves this way. it's absurd. trade to totally unaccountable. back to the market because this is a market day and a half. wednesday morning and we are looking at a very significant gain again for the dow jones industrial average. right from the opening bell, we will be within striking distance of 24,000 on the dow industrials at a lot of things going for stocks today. significant jump in our growth rate in america in the third quarter of the year. significant progress towards getting a tax cut done and signed before christmas in statements from the federal reserve chair is not going to go after the banks. the overtime regulations. up to the bank stocks, up goes the dow. right now a gain of 86 points right from the get-go. stay right there. you will watch your money grow after this. ♪ eras. they're defined by accomplishments. by victories. by those with the resourcefulness, the ingenuity, and the grit to help ensure the next energy to power our dreams, will be american energy. stuart: one of those days when i just can't wait to see the market up and running because we are expecting again and again at the opening bell. yesterday we were up 255 points. we came within 160-yard points at 24,000. this morning we will open bb 80 points, maybe more. i will put us very much within striking distance of 24,000. who would've thought, let me were going to election day last year at 18,000. 24,000 here we go up and running. at 40, 50 points. does the listening on the radio 51.887. all-time high for the dow and the business with a gain of 50 points. thought it might be more? not yet did 53 points i've three points out. a lot of. a lot of green left inside of screen. the s&p 500 at an all-time high up nearly 1%. very significant gain there for a very broad-based indicator. show me the nasdaq leads. dodd is down. what the devil is going on? thank you, lives. that's a the fractional loss of the nasdaq is the dow powers ahead. 239, bottom right-hand corner of your screen. first time ever. price of oil, not sure that's factoring in very much today. however, amazon, where did it open down. $1188 per share. that's up 71. who's with me? a wonderful day. elizabeth mcdonald, elizabeth peek with us today. welcome back to the program. >> i think about 131 >> what i really like as we are laying the groundwork to take it to 26,000 next year. we are taking the bird of the government thanks to corporations by reducing taxes with less regulations and mr. trump did not overreact to this dictator will handle it appeared he didn't take the bait but it's going to be taken care of. >> 26,000 next year. >> we are laying the groundwork. >> thank you, david. i want to talk to you about buying on the news of a tax cut deal or so on the news. >> i think probably there's going to be enough drama about actually getting the full vote if you can have a little churning in the market as a look at that come together, the basically a positive on the market, the economy. the only thing that bothers me is all these republicans basically arguing against it and waffling about support of it. i don't think they understand the point of it. they keep questioning the deficit problem and now they want to impose this possible cap and rollback of taxes, hiking up taxes of revenues falling short beard are they kidding? a completely terrible idea. democrats who were for corporate tax reform. we've we've researched this. obama, john kerry, nancy pelosi, chuck schumer, and we need a fairer, better corporate tax system. even bernie sanders said replaced the amc with the last year. stuart: don't you love politicians? the all-time highs, home depot, mcdonald's all-time highs now. bank stocks, which are looking at are looking at is the big-name banks, the major banks of this country, all of them up again. up yesterday significantly appeared in particular yesterday the regional banks. why did they do so well? jerome powell at his testimony before congress said look, he's going to raise interest rates only very gradually. liz: bank regulations are final. >> even more critical. stuart: they were way up yesterday. look at them now. if we get tax cuts, tax reform this year, does not help the banks in particular? >> will be paying lower taxes because they actually pay taxes. unlike the companies that outsource profits to overseas, that the bigger thing yesterday was this idea that we are not going to be just hammering the banks in basically impeding their loan growth, which is what happened through this tightfisted regulation. stuart: elizabeth is a win for the banks. i better get back to this bombshell from nbc this morning. matt lauer is out at the today show. comcast owns nbc universal. the tweed from president trump about matt lauer. now that he is gone, when will the fake news practitioners that nbc be terminating contractor phil griffin. interject here, he runs msnbc and while they terminate joe scarborough based on the unsolved mystery that took place in florida years ago. that's provocative stuart: the comcast stock is actually out. nearly half a billion dollars enterprise. half a billion in ad revenue. this is chaos. the near post and not lower -- matt lauer is alleged to have sexually assaulted through the 2014 winter olympics and she is more evidence of other wedding being harassed. stuart: the word assault is in a different category from other forms of harassment. check the big board solidified with a gain of 72 points at 23909. 70 points out this morning. look at tiffany for a second. better profits. i'm told they are selling a lot more jewelry. fortunately is down 3%. apple patented a foldable smartphone. no impact on the stock whatsoever. how about chipotle. the founders stepping down as ceo. the market just love that 4.5%. just shy of $300 a share. defense stocks went up after north korean missile launch yesterday. the broader market went down a little bit, then went back up again. defense stocks as of this morning coming back in a little bit. what do you say? no real reaction to the nuclear launch. >> certainly north korea was and is part by dave -- provocative as it could've been. thermonuclear in the middle of the pacific. i thought they were more muted there, but the fact that mr. trump did not take the bait. he exhibited strength but didn't go too far, which would've run of the yesterday. stuart: would've shot the missile. we'll shoot it down next time around. the market would've had a different result. stuart: the national retail federation says a huge number for you. 81 million people shop online on one day. that would be cybermonday. 81 million people. that's a quarter of the entire united states population. everybody, did you buy online on thanksgiving day? >> now come i didn't. my wife plans to give to charity and giving to say that's enough for us. >> you are a good man. welcome to the show. the deal? >> i shocked actually on sunday night. i was feeling so underachieving that had not taken advantage of the 3000 e-mails offering special discounts that a bath and beauty products. i confess. i really couldn't stand not participating. i felt like it was un-american. stuart: amazon down 12 bucks at 1181. everyone was so stoked about it. >> i started shopping thanksgiving night at black friday. stuart: juice to put in mall? >> no. stuart: did you step foot in the mall, live speed? >> yes. i don't want to even go there. the whole thing was whatever. stuart: an important story, my mistake. i am not sure i really understand it. talking about bitcoin. it's really riding high. $10,000 as of this morning all because $11,000. david, are your clients asking you about bitcoin and why you didn't invest in an earlier? >> they are asking but only out of curiosity how does it work. in fairness, we are seeing the price skyrocketed not seen an increase in transactions. some people want to affect transactions having to pay a fee. that suggests to me that a currency should not just be a stored value but also exchanging and people are having trouble exchanging it. ashley: that's a great point. it's now more than four times the value of gold, bigger than the market value. looks like ibm, mcdonald's or disney, four times more expensive than the mania. stuart: that is a bubble. >> i'd be more interested in bitcoin if it hadn't gone up so fast that i think there is a utility to this product. goldman sachs has endorsed it on that basis. the futures contract coming out on the chicago board options pretty soon. that's all kind of exciting, but this kind of speculative spurt on the value makes it feel like it's very, very speculative and nervous. stuart: what was.com in the 1990s, globe.com? and it went through roof all of a sudden. >> it sounds like a homer simpson's stock. stuart: i'm sorry to say thank you very much indeed come a day it, lives on what could be an historic day because look at this. 23,906 as we speak. the gain of about 70 points. chevy out with a brand-new corvette. zero to 60 seconds -- zero to 60 miles an hour in three seconds. fastest corvette ever made. we will tell you how much it is going to cost. we will be with you on not next that next. vestors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. the uncertainties of hep c. wondering, what if? i let go of all those feelings. because i am cured with harvoni. harvoni is a revolutionary treatment for the most common type of chronic hepatitis c. it's been prescribed to more than a quarter million people. and is proven to cure up to 99% of patients who have had no prior treatment with 12 weeks. certain patients can be cured with just 8 weeks of harvoni. before starting harvoni, your doctor will test to see if you've ever had hepatitis b, which may flare up and cause serious liver problems during and after harvoni treatment. tell your doctor if you've ever had hepatitis b, a liver transplant, other liver or kidney problems, hiv or any other medical conditions and about all the medicines you take including herbal supplements. taking amiodarone with harvoni can cause a serious slowing of your heart rate. common side effects of harvoni include tiredness, headache and weakness. ready to let go of hep c? ask your hep c specialist about harvoni. stuart: we've got gm shares, chevrolet has priced a new super and superfast corvette. lori at the exchange, give me the number, how much? >> this will set you back $120,000. wait, there's more. the convertible version $124,000. that's a bargain compared to ferrari. a range of 188 to $400,000. gm shares up a little this morning. debuting this corvette so while the price is pretty hefty, the production goals are pretty low only planning to put 2 million on the road. stuart: not that many people with all that money to spare. by the way, gm about to reveal itself driving a fleet of cars. gm about to do that and helps the stock as well. wells fargo being dubbed a repeat offender. they face more heat from the government. what did they do? >> gretchen morgenstern, basically the office control of the current be saying they are weighing a cease and desist order against wells fargo taken across a number of unit zeroing in on the auto loan canada mortgage unit saying the customers there were forced to buy collision coverage they didn't need and they didn't know they had it according to some reports in their repossessing the commitment they had to pay fees for that was improper as well. cease and desist could mean regulatory fines and penalties against wells fargo. stuart: stock goes up. go figure. conservative leaders releasing a statement on tax reform. any senator is serious about delivering tax relief with all american businesses cannot in good conscience delay action on the tax cuts and jobs that. david mcintosh with us, club for growth president, you signed that statement and i think you aimed at the united states senate in wavering senators there. did you not? >> it's a tremendous tax bill, not perfect. lots of things we would like to see improved, but this would be a huge improvement and you also see as you point out the growth had a high for three years today. authority having an impact as the community and take the kate getting the job done. >> earlier this morning that government revealed we grew at an annual rate of 3.3% in the third quarter. that is a nice jump from any of the previous eight years. but tell me this. what kind of growth rate of the dead next year if we get the tax cut deal done? >> we see certainly sustained 3% for several quarters and i think you could reach 4% or even higher. the president has 4% will go even more than that. all of his advisers say yes, that is the president. honestly, we can be 3% to 4% easily for five, six quarters. stuart: it seems like we are moving towards resolution of the tax deal. audit the senate budget committee. we are going to start procedural debate or motions on the actual debate in the 20 hours of debate on the senate. this might happen by friday of this week. we are moving fast. >> they are moving fast through the first procedural debate will tell you if there is 50 republicans for this bill. they are negotiating all the fine points to get people online and the press reports are very positive. there are things talking about that are bad ideas, this trigger to get rid of this. i think they will realize that come a step back and say let's get a tax cut done if we have to adjust it later. frankly i'm telling them to a second one later for small businesses and pastors who don't get a very good deal and come back in a year or two and do a good job for them. once you've shown this one works. >> if they get the vote and say in the senate, goes to a house-senate conference committee and that doesn't take long to come up with some kind of deal that mashes the two and then they go to the president's desk. looks very doable before christmas at this point. would you say? >> it is very doable. one to watch for is the alabama election. it looks like roy moore is going to lose, one fewer democrat potentially and it will take a while for the new senator to be seated, but they have to get done before he would take office. stuart: thanks very much indeed. we do appreciate that. i will break in here from president trump. just treated this about north korea. just spoke to president she jinping of china concerning the provocative actions of north korea. additional major sanctions will be imposed on north korea today. this situation will be handled. >> this comes after they launched the icbm that the defense secretary could it anywhere in the u.s. and mainland including new york and washington d.c. could travel 8100 miles and had anywhere in the world. >> the president has responded in a calm fashion. the last line of the tweed was this will be handled. that is what the market wants to hear. they don't want off-the-cuff provocative treat at this point and that's why we've got the dial-up. >> south korea navy, army and air force launch test fire missiles that could hit the launch by north korea. stuart: up 100 points. there you go. the dow 30 of 100 points overall in the dow 30 shows an awful lot of grain, majority of upside dow stocks. senator rand paul sat down with their own doc siegel, first interview since he was attacked by his neighbor. you are going to see it after ♪ approaching medicare eligibility? 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senator paul was assaulted at his home by his neighbor and was seriously injured. roll tape. >> initially didn't know how bad it was hurt. i knew that it hurt to breathe and i was breathing very shallowly and i thought it probably had broken some lives. i didn't know how bad is going to be a bit cat scan showed not only with the long collapsing but it was getting the area where the breathing space had collapsed was becoming ammonia and getting bigger over time. i had six to eight weeks to heal. stuart: dr. siegel joins us here in new york. first of all, how did actually happen? >> such a severe injury, how it happened is that the neighbor was running down a big hill and launched himself from behind. rand paul had his earphones on, you didn't hear him coming and he flew into the air, and any call to like enough else. an injury, is now legal in the nfl by the way. he went flying through the air, 10 to 12 feet and a dozen gnocchi broke his ribs when he was initially hit around the impact of the second landing. and then he said of course the media then headed instead of being supportive and wishing them well, people were attacking senator paul. stuart: do you have any idea what motivated the attack and why did he do it? >> senator paul talked to me about that. he said no contact with this guy in 10 years and all this speculation about cutting them on infighting over property. he said they may have had some issues in the past, but nothing that would predispose this accepted the guy's mind and he believes and he told me he has an idea this could be political and related to hatred of president trump and his dislike of senator paul's obamacare positions or personal dislike. he doesn't know, but those are the things he brought up his possibilities. stuart: in the interview he said you will spend four to six weeks recovering from this recovering from this. is that a full recovery or what? >> he's had trouble breathing at night. he went back to the senate to vote for the tax reform and on the way found out he had 102-point by fever and had developed pneumonia. three ribs are displaced. he breathes into a breathing machine to re-extend the lungs. as physician to physician, dr. to dr., another four to six weeks for a complete recovery and you will see a complete recovery. he will heal but it's been an arduous process in our hearts have to go out to him. anyone that would criticize him or be glad that he was paid, that's really a disgrace. >> the worst thing to happen when politicians are attacked because of politics and that appears to be why. >> everyone is supportive of him. stuart: thank you very much. the final tax-cut push is underway. the senate could vote sometime this week. john mccain is still a holdout. we have three senators join us later to talk timeline on whether any democrat like claire mccaskill of missouri by about guests. the dow was up 106. we will be back. . . . . stuart: here is be a example of the gross abuse of power by the out of control consumer financial protection bureau, which by the way is the creation of senator elizabeth warren. the bureau was suspicious of car dealerships. they thought they might be guilty of racist lending practices. now, they're not allowed to regulate car dealers, so they went after banks that financed them. senator warren hates banks. they cooked up some extremely dodgy numbers to show people with black-sounding last names paid a higher interest rate on car loans than people with white-sounding names. they fined the banks and distributed some of the money to activist groups. doesn't that remind you of the notorious acorn group? it does, doesn't it? the banks can not appeal, neither can we. the cfpb sun touchable. the bureau is senator warren's radical government within the government. fortunately a judge just ruled her proteges no longer run it. the administration's mick mulvaney runs it now. think about this, though. someone way out there on the left, an arch anti-capitalist, creates an unaccountable agency that regulates capitalism. that is senator elizabeth warren. let's go back to the car dealers and searching for black or white-sounding names. can you imagine, it has come to this? of course you are a racist if you object. go back to senator warren. it was she who played the race card, falsely claiming to be a native-american to land a job at harvard university as a professor. we should all be thankful that a federal judge has stepped in to end senator warren's state within the state. the second hour of "varney & company" is about to begin. ♪ happening right now this hour, i should say, fed chair janet yellen testifying on capitol hill about the economist. don't worry, we're not going to make you listen to it. if anything exciting happens we will let you know. check the big board. there is the excitement. the dow industrials are up close to 102 points. 23,939. we're 61 1/2 points away from 24,000. the big tech stocks, they're not doing that well today. in fact all of them are down. facebook is down 2.7%. amazon, microsoft, alphabet, apple, all of them on the downside today, despite an overall big gain for the market. how about those financial stocks? well the big banks are doing well, very well again. they did well yesterday. so did the regional banks. they had favorable news from the new fed chair, favorable news about tax cuts, all kinds of good stuff happening for banks. they're up as a result. look at disney. espn has confirmed it is indeed cutting another 150 jobs. espn is a unit of walt disney. the market likes it. disney is up to 104. check comcast, they're the owner of nbc and matt lauer, let go, fired this morning. there is a bombshell for you. comcast stock is actually up. chipotle, its founder stepping down as ceo, the market likes that too. it is up 3%. up $9 at 295. the dow is up 102. let's get to tax reform. the senate could debate the bill today. there is chance the vote could come down again to john mccain. joining us senator john thune. first of all senator, give us timetable here. procedural motion, tell us about it. >> what we have to do, stuart get us on the bills first off. that takes affirmative vote. then we will have the under reconciliation procedure, which is the procedure we're using here in the senate to pass the bill, 20 hours of the debate. at end of the 20 hours, there is process called vote rama where any senator wants an amendment can get it voted on. that will run into the wee hours of friday morning. it will eventually play out. we'll get to a final vote and my home well have votes to pass tax reform, conference with the house of representatives and put a bill on president's desk to bring middle class tax relief to families and. stuart: this first vote is procedural motion, but the very first vote, that is very important, isn't it? i don't think republicans would call for a vote they were pretty sure they have the 50, 51 they need. am i correct? >> we have to get on the vote. that takes 51 or 50, plus the vice president. means we have all of our members on the team as we move forward and there have been a lot of conversations in the last day or two with individual members to try to get them to yes. i hope when we proceed we'll have the votes. at end of the process we have votes to pass the bill. this is good stuff. stuart: i have to ask you about senator mccain, it could come down to him in this first vote, couldn't it? >> senator mccain is, sort of a stickler for process. he would want to us follow regular order. we have done that. the finance committee markup a week ago, we disposed of, voting on almost 70 democrat amendments. everybody has had a chance to have voices heard in the process. we had of course, since i've been on the finance committee, 70 plus hearings on tax reform. this is a process going on for a long time. and, we're going to have an open process on the floor very transparent where people call for amendments, get votes. hopefully that is enough to get senator mccain on board. stuart: he is your friend and colleagues. i don't know about friendship but certainly your colleague in the senate. as of now, do you think it is possible that john mccain would kill tax cuts? >> i hope that isn't the case. i think on the merits of this bill, stuart, if you look at it what it does for middle income families, what it does for the economy, making america a attractive place to invest create better paying jobs and lift wages around the country that have been stagnant for so many years there are a lot of benefits in this bill for all americans and i hope senator mccain and all of our senators recognize that, that we need to get this across the finish line, put a bill on the president's desk that will bring much relief to middle income families, allow them to keep more what they earn and importantly get the economy growing at a faster rate. we had a couple of good quarters. we need to build on that. >> once you have spot the 50 votes, is it not likely, certainly possible, that some democrats come over? they wouldn't be deciders said yes we would have tax cuts but they would be help the majority. claire mccaskill i'm thinking. possible some democrats will come over to your side? >> that is possible, stuart, we have to demonstrate to deliver the votes. no democrat will give us vote number 50. they might give vote 52 or 53. but that is possible. there is good things for every state. stuart: then it would be bipartisan. >> that would be a big deal. stuart: senator thune, we know you're very busy. thank you for taking time out to help us today. you've helped us out enormously talking about tax cuts. and we appreciate it. >> stuart, always nice to be with you. stuart: we're on dow it 4,000 watch. so by the way is president trump. one of the tweets he has come out with this morning. looks like another great day for the stock market. consumer confidence at record high. somebody likes me. in parentheses that would be brackets. my policies. i'm not sure what that last about it means. jack hough with us, "barron's" senior editor. do you think we'll hit 24-k today? go ahead. >> if the market tanks next year how do we blame that on hillary clinton and barack obama. it is only trump when it is going up. it has to be somebody else when going down. stuart: i don't like the sound of that. >> in fairness to the president, you look at top gainers, when you look at some of those companies, i see companies make a lot of money domestically. these stocks are rising, because the chances of a tax package have greatly increased over the last couple of days. i think wall street is starting to price that in. i think it suggests could be more room to the upside for stocks. stuart: that is interesting. looks like we're off to the race. >> retailers are winning. health companies are winning. banks are winning. tech companies, that don't necessarily pay a lot in taxes are not following along. stuart: so much good news. good news for the banks, fed chair. tax cuts look very, very likely, et cetera, et cetera. we're very close to 24-k. however i want to ask you about bitcoin. this is something i honestly don't understand. the price actually hit almost, it did, it crossed 11,000 this morning. what do you make of this? >> you're doing the right analysis. if you don't understand it. what is it supposed to be? is it currency? how can i store my money in something that has a 10-fold change in price in a year. that is not doing good job as currency, that is what it is. that is purely speculative instrument. i think it is good proxy. this give as good sense how much speculative fever out there. stock market has not come unhinged. there is good fundamental basis for the run-up in share prices. if you see stocks run up and up and start to resemble the bitcoin chart, get very nervous about melt-up in the first quarter and good times going away but bitcoin, you could easily see another dramatic increase from here. there is no fundamental basis for this value. just a matter when everyone gets in. stuart: i will ask you a question. you may not know the answer. >> come on stuart. be more confident. stuart: if i got together $8,000 and last week, last week, mark you, $8,000, here it is in my hands and i give it to bitcoin and i get one bitcoin back, today, i want to cash in my bitcoin for $11,000. who gives me 11,000 u.s. dollars? >> someone who is more excited than but the product. wants to pay a higher price. stuart: i can get dollars out? >> you can cash in. people are still more energetic with the buying than selling. stuart: that was always my problem. i didn't know whether i could get dollars back or dollars? i want to make a profit in dollars, thank you very much. i want to spend those dollars. >> you can certainly get the money back. i don't know how it end for bitcoin. i make one more point on subject. has to do how the bitcoins are created. they use a price ses mining and using computers and high-powered chips. i want to companies like nvidia that make the chips in this process. nvidia has great progress in data centers and making money on bitcoin business. i wonder when the end comes, blowup for bitcoin i wonder what to nvidia stock. stuart: we watched past year. it doubled almost every day. i didn't know it was connected to bitcoin. >> are you connected as bitcoin owner? liz: no. >> when people sitting at the table own bit cone we're closer to the top -- bitcoin. stuart: check this out. this is 14-carat pink diamond auctioned in hong kong. it is called, pink promise. it sold for $32 million. christie's said it was the second highest price per carat for a pink diamond. went to unidentified phone bidder. emac, she did a lot of online shopping this weekend. that is a joke. liz: that is a joke. fine. stuart: show me your left hand? liz: it isn't here. stuart: coming up a federal judge steps in to end senator warren's control over the federal consumer agency she created. i say this is absolutely fabulous news and we're on it. much more on the tax bill in the senate. senator rob portman with us later this hour. you're watching second hour of "varney & company." ♪ [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. stuart: we were up 100, now we're up 77. how about the price of oil? it is down $57 a barrel. it too is down, pulling away from 1300 bucks an ounce. the latest quote is 1287. back to my take, editorial at top of the hour. the cfpb, senator warren's government within the government, that is what it is, they have been going after banks that make car loans, accusing them of racist lending practices. former wisconsin governor tommy thompson joins us now. governor thompson, this reminded me of the acorn fiasco where activist groups go after banks, take them for money and get the money themselves this is disgraceful. >> it absolutely is. it is government on to itself. the worst part about it, stuart, is that you don't have to have any proof. all you have to do is have a claim. then they publicize it. any bank or insurance company is afraid of adverse publicity, so they pay it. it doesn't make any sense at all. it is not a democracy and not what the united states of america is about and phony regulatory agency set up by elizabeth warren to promet her causes and liberal causes in america. stuart: now mick mulvaney taken over the agency. he will run it very, very differently. i see this as defeat for senator warren, a defeat for her radical policies. i think she has real problems if she will be the democrat contender for the 2020 election. >> she is so far to the left, even normal democrats who want to support their party, are very leery of elizabeth warren. she is an individual that has promoted herself, her liberal causes to an end i think really is not american. you know mick mulvaney is just a great guy. extremely bright, hard-working, i love the fact that he came in the first day and brought doughnuts. he says there is a new sheriff in town and we're going to change the direction of this agency. i couldn't be happier with omb's leadership and what he accomplished at omb and what he will accomplish in this agency. he will change it dramatically and make it a democratic organization. stuart: i have awful image in my head of an obama era appointee with doughnuts, they would be thrown out. sugary, fatty doughnuts, you can't do that. next question. >> too many calories, you can't do that. stuart: you can't do that, good lord. committee in the senate is considering alex azar to be the next secretary of health and human services. you knew him. azar was general counsel while you were hhs secretary. you know him. is the guy who can take down obamacare from the inside or do something about it from the inside? >> alex azar who was my general counsel, is extremely intelligent, very competent, and he is the type of individual that will read laws, rules, regulations and find ways to change them. obamacare can be completely demolished and absolutely taken apart by the rules and regulations and power that is in the law as it is. there were over 1000 shelves given to the department of health and human services and alex azar, i know him very well, i'm helping him get through the confirmation process. he will do an excellent job. he will dismantle obamacare but in the process of dismantling it he will rebuild it, make it more accountable and much more available for the individuals in america and he is going to do a great job as far as health care reform in america for the betterment of all citizens. stuart: great job your sell, tommy thompson. i hope you still watch the show on fairly regular basis. i won't press you. >> i always watch you. you are the best. stuart: that is what i was looking for. thank you very much, indeed, sir. see you again real soon. thanks. check this out, everybody. yesterday the demand for meghan markle's coat crashed the website of the canadian designer. now the designer has been officially named the designer of -- bless you. liz: i was overwhelmed. i sneezed. stuart: the coat is now named the meghan. liz: nothing to sneeze at. stuart: matt lauer, a fixture on "the today show" for two decades, he is out. we'll have details for you. ♪ >> he is my dear, dear friend and partner. he is beloved by many, many people here. i'm heartbroken for the brave colleague who came forward to tell their story and any other women who have their own stories to tell. we're grappling with what women faced for the last several weeks, how do you reconcile someone you love and how they behaved so badly. i don't know the answer to that this reckoning so many organizations are going through. it is important. its long overdue. stuart: that was savannah gut think on "the today show," after announcing that long-time anchor matt lauer is out because ininappropriate sexual behavior. lauren simonetti has the story. lauren, the story please? reporter: stuart, good morning. matt lauer filed from nbc news after an employee filed a complaint monday night a little over 24 hours ago, about inappropriate sexual behavior in the work place. ceo andy lack, writing about the first complaint in 20 years at nbc news, we were also presented with reason to believe this may not have been an isolated incident. lawyer is 59, stuart. he is married, three children. he is a cornerstone, a fixture of "the today show," which quite frankly is, very popular and one of the most profitable american television franchises there is. in light of the environment and other allegations we've seen at other outlets, lawyer was already lauer was being investigated by other investigations. visibly shaken savannah guthrie told viewers on "the today show." we have few delays. the "new york post" is reporting that lauer allegedly assault ad female nbc staffer during the 2014 sochi winter olympics. we have not heard from matt lauer himself. we heard from president donald trump on twitter this morning. he said, wow, matt lauer fired from nbc for inappropriate sexual behavior in the work place. when will top executives from nbc and comcast be fired for putting out so much fake news. check out andy lack's past. as you know, trump was on the "apprentice" for years. stuart: thank you very much. we'll be right back. ♪ traders -- they're always looking for advantages. the smart ones look to fidelity to find them. we give you research and data-visualization 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. ♪ ♪ stuart: making my dreams come true. liz: hall & oates. stuart: hall & oates, thank you very much. if you're an investor your dreams are coming true. up 8points. by the way, house majority leader mccarthy believes the senate will get the tax bill passed. he alerted house republicans keep your schedules flexible. not going away to christmas break until the tax cuts are done. that sheping markets. weekly royal inventories. how much in storage. liz: bigger than expected drop. markets looking for 2.3 million-barrel drop. stuart: no effect. look at big tech names. normally see them going up. look at facebook. it is down 4%. that is whopping great big decline for a company like that. amazon is down two% all the way back to 1161. how about that? microsoft down. 2% down on google. apple down nearly 2%. big techs, money is coming out. there is a switch. tesla shipping company dhl, ordering 10 of their new electric semi-trucks. tesla is down to 309. that is down $8 a share. big drop there. riege ghoul entertainment, movie operator is discussing a buyout by uk's cineworld, valued at 3.6 billion. that is why regal is up. the house will debate and vote on sex harrassment training resolution this afternoon. this follows the sexual harrassment allegations all over capitol hill. also the settlements made to hush the complainers, that could be revealed. joining us now, iowa congressman rod blum. congressman, do you want to find out who did what in congress and reveal it? is that what your legislation is all about? >> first of all, good morning. the right honourable, mr. stuart. it is good to be back on your show again. as karl rove admonished us the way you should be addressed. so i am following his orders. stuart: okay. >> yeah, back in iowa over the thanksgiving break, traveling eastern iowa, people are absolutely outraged by what has happened with the sexual harrassment and over $17 million, stuart, of settlements paid out in absolutely those names should be made public. first of all. secondly, folks in iowa say this money should be paid backs to the taxpayers. i can't argue that. thirdly, this practice has to end. quite frankly we did a little digging into this, stuart. it is more than $17 million because many of these claims were settled with a, a going-away bonus, if you will, a termination clause, if you will and it was, those were not included in the settlement costs. so it is probably well above $17 million. stuart: so we are going to find out the true amount that was paid out? we'll find out who did what and what the allegations were and settlement terms, we're going to find out all of this? you think we'll do this. >> you you better. every cent comes from somebody's hard-earned paycheck. we darn well do that. there is legislation already drafted that i will be signing on that does sergeantly that. stuart: yes, sir. i want to bring this to your attention. kevin mccarthy just said, we think he said, you're not taking off the christmas break unless you get the tax deal done. is that your understanding of what he just said, you ain't going anywhere for christmas unless you get it done? >> absolutely. i'm on board with that. i don't think that is growing to be an issue. i tend to be optimistic guy from iowa, stuart. i think we have the ball rolling in the right direction. i believe the united states senate will do the right thing. in the house we say the senate is where good ideas go to die, but we actually think they will come through on the tax reform bill. and president will be signing this on christmas eve, i believe. stuart: whoa. it is all go, isn't it? you and i have and a finty because i went to the iowa state fair which is the greatest state fair in these here united states of america, and i flat-out loved it. that is why you and i get along so well. >> it is true. every possible food known to mankind is served deep fat fried on a stick at the iowa state fair. you know that to be true, stuart. stuart: heart attack in every bite. joking. >> stuart, if i could ask you a question, i want to know if you received your invitation for the royal wedding yet? stuart: believe me, congressman, i will not be invited. i am not popular in britain by the way. i'm really not. i support president trump's growth adenda and brits and most europeans do not see eye-to-eye with president trump. i will not be invited. maybe fox will send me maybe to give them a poke in the eye. who knows. >> isn't it amazing when beatings are dismissed, morale approved. regulatory beatings have been discontinued by president trump and third straight quarter of plus 3% gdp growth. stuart: got it. that is why we get along okay, congressman. you have to come back more off then. honorable congressman blunt. >> thank you. stuart: we have to get back to the matt lauer matter. he is out at nbc. allegations of sexual assault. lizzie. liz: dow jones is confirming that matt lauer was fired by nbc after harrassment complaints from a staffer at the sochi olympics with matt lauer in 2014. dow confirming report at "new york post." stuart: they said he was fired for sexual assault. liz: they used harrassment. same olympics venue in 2014. stuart: congressman jason chaffetz is with us this morning. jason, i don't know what to make of this. it's a bombshell. give us your take please. >> well it's a bombshell. i feel bad for the woman who had to go through this. it happened years ago. so why is it now playing out when it is a little bit more socially acceptable to talk about these things? i think if there is any good silver lining it is that i think these women are having to do difficult, hard things, and actually step forward. companies having this change in mind-set saying no, we'll not tolerate this. so if you know there will actually be a consequence, i think you have more victims willing to come forward. to that degree i think it's a good, healthy thing. stuart: i said look, i don't know what to make of it. well the first thing that struck me was, that the element of hypocrisy from some of the people being accused and having to step aside. many of these people were ardent supporters of all women's causes. they are liberal. they voted down the line liberal, and now it emerges that they were engaged or alleged they were engaged in sexual harrassment. did that strike you, jason, there is element of hp hypocrisy? >> it does. goes back to the time of bill clinton what he was doing as president of the united states in the oval office with an intern. everybody on that side of the aisle wanted to give him a pass, saying it is okay. it created this cultural situation that was very derogatory. it was very conducive to actually doing nefarious things. hopefully that tide has changed. some of us have been a pillar of this. we haven't changed our position on this we thought what bill clinton did was wrong and still think it is wrong today. you know, the tide is turning and these people pay a price from charlie rose to matt lauer, they earned it, they earned it. stuart: i want to switch subjects for a second, jason, and look at the big picture, the political movement we have in place at the moment. seems like president trump is getting things done. the economy is growing faster than we thought. the stock market is rallying like we've not seen in many a decade. we have the tax cut deal, looks likes we're going to get this thing done, maybe by christmas. it is all going towards president trump. i noticed that his approval rating is now back up, very close to 40%. okay, that is not great, but it is better than it was. what do you say? >> well, that, and combined with the fact that the democrats aren't even showing up to the discussions. they don't have any ideas. they have got, old, tired, leadership, singing the same old song. but i think optics yesterday of the senate minority leader, chuck schumer and nancy pelosi not even showing up for the discussion rubs america the wrong way. if they wanted to seat at the table, the president was giving them one. they chose not to show up. so good things are happening. donald trump will get a lot of credit what is happening here. republicans in the house and senate if they can push this over the finish line will get a lot of credit for actual rolling back regulation, putting tax cuts on top of that. >> amazing what is going on. it is a plethora of news. jason chaffetz, always a pleasure. >> thank you. stuart: now this. president trump speaks with china's president xi xinping about north korea and now the president is tweeting about north korea. what does he say? liz: he said that basically additional major sanctions will be imposed on north korea today. this situation will be handled. just a week ago the trump administration hit north korea with sanctions against 33 companies and vessels, including, 20 vessels included in there. so the president did give steve mnuchin, the treasury secretary more power to freeze assets of any individual or any company in the world that does any business with north korea. we don't know the nature of the sanctions but he did give the treasury secretary that power. stuart: if he has got that power, he will use it. liz: yes. stuart: the bottom line the president didn't overreact. he said it will be dealt with. he said that on camera. that is what the market wants it hear. the market approves of that kind of calm resolution. look at this. the dow is up 101 points. liz: that's true. stuart: north korea is a sidebar story. liz: it did go down yesterday on the news. it is geopolitical shock for markets. if interest rates go up at same time, you have an event in north korea that could be the black swan event everyone is talking about. who knows. stuart: i think you're right. check this out, everyone. apple launching official youtube channel with short how-to videos. offer tips how to change the wallpaper on your iphone. that is the background. liz: that's right. stuart: how to retouch a photo. got that? she just launched it. final tax push underway in the senate. seven senators, kind of on the fence but moving towards a yes. could it come down to john mccain? there's a question for you. back in a second. ♪ you start trading. >>yeah, 5 years already. 5 years, hmm. you ever call your broker for help? >>once, when volatility spiked... and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle your toughest questions right away- with volatility, it's all about your risk distribution. good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch. help from real traders. only with td ameritrade. liz: the senate could vote on the tax bill as early as friday this week. club for growth president david macintosh that the senate should vote now and come back in year or two to adjust it. roll the tape. >> that will tell you if there are 50 republicans for this bill. they're negotiating all the fine points to get people online. and the press reports are very positive. you know, there are some things talked about that are bad ideas. this trigger to get rid of them. stuart: oh, yeah. >> they will realize that, step back and say get a real tax cut done. if we have to adjust later. i'm telling them do a second one later for small businesses and pass-throughs don't get a very good deal. come back in a year or two and do the good job for them. ♪ stuart: domino's pizza got an upgrade. that means an investment firm says you get out there to buy that thing and it is going up and it is. dominoes up $11 a share, up 1.84. now this the tax reform bill they could start preliminary debate on the senate floor as early as today. joining us now is ohio senator robert portman. senator, welcome to the program. >> stuart, great to be on with you. i always love watching you. stuart: you do? >> i do. stuart: you just saw my -- >> you're spirited. stuart: wait a second. you just saw the interview with iowa congressman mr. blum, who also watches the show. i went out of my way to say thanks for watching, right? >> i didn't hear that but you somehow make business much more interesting. that is all i can say. stuart: thank you, mr. senator. i will take that to the bank. thank you very much indeed, sir. now what is the timetable here? we reported you could in the senate start debating the procedural motions today. take me through the timetable to get through the senate. >> yeah. we have a pretty ambitious timetable. who knows what happens in the united states senate. sometimes things get delayed. the timetable to try to move today which is the first vote, procedural vote to get on the bill and begin debate. there is 30 hours set aside for debate. which is good. i want to have a lot of debate. i think that is important. people can offer amendments. anybody can offer amendment. that formally takes a couple days, stuart. they call it voter-rama, people offer whatever they want and goes into the weekend and there would be a vote. stuart: you wouldn't schedule any kind of vote today unless you knew you got 50, 51 votes in the united states senate, right? >> well, sometimes that is logical by the way but sometimes you just don't know until you actually call the vote and look, we have 52 republicans. 90% those republicans are strongly on board. they think this is the right thing to do for business productivity and investment. but there are five members still uncertain and so -- stuart: there is a lot of speculation, mr. senator, and you know this, that it could come down to senator john mccain, it could, couldn't it? and you don't know which way he could go, do you? >> i don't. and you have to talk to john directly. i tell you two things about john mccain. he will do what is right and not affected by politics of any of this. two, when he ran for president in 2008, really his whole career, he believes in pro-growth tax reform. he believes lowering rates and broadening base is good idea. this bill in structure is similar to what he supported in the past. i would hope in this case we would be able to get his support, frankly the support of others who have specific concerns but overpaul think that the bill is directionally correct. i would put in that category folks that want to do something on the state and local property tax deduction and do something to help pass-through companies more. they still think this bill is basically sound. stuart: okay, once you have got the 50 votes, once you tallied the 50 votes, do you think it is possible some democrats will come over and join in with the yes, sir votes? i'm thinking claire mccaskill of missouri? the president goes there today. do you think others are possible? once you got the 50, you're sure you're in, some democrats may join, that is possible, isn't it? >> i do think that is possible. i think it is possible, if you look what the bill really does it, provides significant tax relief to middle-class americans and there are many families in these states and in those districts and house side who will benefit directly. on average, someone will get about $2,000 tax cut. in ohio, the median family income tax relief is about $2400. as you and i talked about in the past, business side of this will generate more jobs and higher wages because of the increased investment and productivity comes in with that. that will benefit families in my view more than the direct tax relief. why i think at end of the day there are a lot of democrats who will look at this, say, it will be good for people that i represent. i don't know how many will vote our way. but after you get to 50, there is probably as you say a handful of members on other side of the aisle who would be willing to support it. stuart: senator rob portman, don't be such a strange stranger to the show if you like it so much. take care. >> thank you. stuart: stuart. stuart: i have not read this script beforehand. i'm reading it cold. here we go. a new study find that using mouthwash could put people at risk for diabetes. universities of alabama researchers say using mouthwash that could destroy good bacteria in the mouth that regulate ensue lynn levels. i saw the word mouthwash on the script t worked out. liz: you made it. stuart: president trump headed to missouri pushing tax cuts but he could be pushing a democrat senator to vote yes, the lady on the right. more "varney" after this. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. or a little internet machine? [ phone rings ] it makes you wonder. shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. choose by the gig or unlimited. and ask how to get a $200 prepaid card when you buy any new samsung device with xfinity mobile. a new kind of network designed to save you money. click, call or visit today. liz: president donald trump selling the republican tax plan in missouri today. that is the backyard of democrat senator claire mccaskill who faces re-election in the midterms next year. let's take you to jeff flock. he is in st. charles with a preview. jeff? reporter: that's true, maybe a little pressure on moderate democrats like claire mccaskill to sell it to americas. people asked if they like a tax cut, everybody likes that only 25% in recent polls like the republican plan. so it needs selling. president is expected to tout middle class tax relief, even though some analyses of the bill, find some in the middle class don't get it. simpler code, everybody supports that. bringing back jobs on main street. he is doing it here in st. charles, because of st. charles' vibrant main street. he is touting low post jobless rate in 17 years. in 13 states they have lowest jobless rate in history as well as what we've been reporting on markets. treasury secretary mnuchin and linda mcmahon, head of small business administration and politicians from missouri. about 1000 people. this is not one of the president's rallies. this is a speech. will be about 1000 people. we will have it live here on the fox business network. liz: linda mcmahon tomorrow 9:00 on "varney & company"? great. stay with us. we do have a third hour of "varney" coming up. don't go away. don't touch that dial. owed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor. stuart: things are moving fast, the trump growth agenda showing results in the tax package is close to being a done deal. in the senate they are teeing up the big debate, procedural motions with a minimum of 20 hours debate and the vote should be done by friday. the deal goes to a senate house committee to final tinkering in the president at desk for signature. it looks like it is done by christmas. donald trump flies to st. charles, missouri, barnstorming on main street, the tax plan will, i am quoting him now, poor rocket fuel on the economy, that will not be lost on democratic senator claire mccaskill who faces reelection in a statement going going on your trump country. could she become a democrat on tax cuts? may be. the economy is growing, 3.3% at an annual rate, and tax, spend, borrow and regulate era. democrats are in distress, they know things are moving in the president's direction so they fall back on name-calling and make bogus claims about the impact of tax cuts. it won't work. things are indeed moving very quickly. the president is on the verge of a very big win. the third hour of "varney and company" is about to begin. ♪ ♪ together right now ♪ over me ♪ stuart: can the senate come together? don't you like it? coming together both sides. the dow industrials up 86 points, more winners and losers in the 30 dow stocks. and the price is near $60 a barrel. and it is down slightly. the price, 249, national average, and and the president travels to missouri barnstorming on tax reform and perhaps speaking to an audience of one, that will be democrat senator claire mccaskill. joining us now is missouri state treasurer eric schmidt. senator mccaskill is not going to be there, she is attending to senate business in dc but she has got to be listening to the president's message. do you think it will sway her in the final vote of the text cut in the senate? >> i hope she sides with hard-working missourians but we are used to her siding with chuck schumer and harry reid before them, a long time since claire mccaskill sided with hard-working missourians, and election year, doing folksy routine, we hope she will vote for a tax cut for hard-working folks and are prepared to be disappointed. stuart: you are a republican, a little pejorative about across the aisle. in the senate come the vote republicans have 50 votes, it is there. at that point senators like claire mccaskill could come across the aisle and say you got the votes, i am adding one. that could happen, couldn't it? >> that is not the indication from what we are hearing, how she is posturing. she is relying on the old tired playbook of class warfare pitting people against one another, those arguments jump the shark. people deserve more take-home pay, higher wages and we are on the cusp of that. we did that at the state level lowering income taxes for hard-working folks in small businesses and hope federal government does the same. stuart: missouri is low unemployment rate, is that accurate? >> doing well, seeing more jobs being created, we had the statewide elections, new generation of conservative leadership. there is an agenda we are moving forward and lower taxes, first tax-cut in 100 years being phased in. we hope we get some relief from the federal tax code. mike tyson was heavyweight champion of the world and the a team was still a show on television last time there was broad-based tax relief and historically was jfk, ronald reagan, expansion in the economy, growth, more opportunity and we hope they get it done in congress. stuart: you are eric schmidt, not to be confused with the eric schmidt google guy. the treasurer of the great state of missouri. >> that is correct, not by our bank accounts, we could never be confused. stuart: will you meet the president today? >> i will be there and visit with him before he gives a speech and point out the president opened up this agenda in springfield, missouri, a few months ago so missouri is front and center in this debate when it opened up and hopefully entering the closing stretch. hard-working folks have more take-home pay in st. charles, missouri is main street america, emblematic of what is happening in congress. stuart: missouri's eric schmidt, we appreciate it. i am staying on tax reform, i want to bring in the congressman on the house ways and means committee and mark meadows of the freedom caucus. we are going to talk about opioids in a second. i want to talk about cutting taxes. we are on the fast track at the moment, certainly through the house, you think we can get it through the senate by christmas? >> my friend mark meadows to talk about tax reform and opioids, something we have to get done. mark and i agree we need tax cuts, we agree we don't have to worry about paying for tax cuts, it is good to see the senate moving forward. >> before we get to opioids, i will guarantee that. i want to know this. of the tax package goes through as is do paychecks go up on january 1st for those people who pay federal income tax. >> you might have to change your deductions but they should go up and we will see the average family close to the middle income, close to $200 more in their paycheck. that is a good thing but the other point is about getting it done. we will go to conference. we go to conference over the next couple weeks but it will be on the president's desk by december 21st to sign into law, that should be good news for all americans coast-to-coast. stuart: i want to talk about the opioid crisis, swept aside by tax reform and the state of the economy. you got a bill before congress, the with the opioid crisis, what are you doing? what is the solution? how are you dealing with this? >> posits things, put some reforms in when it comes to prescriptions, 80% of heroin addicts end of getting there start with opioids. some kind of standard, let's look at our policies to put in and this place. the 7 day prescription is not the answer but asked the fda for other things that could be done. it is a broad solution, ohio number one state broker and addiction. stuart: terrible story, mark meadows, any provision in this legislation for paying for getting people off opioids. >> we haven't concentrated as much, that is one component of overall legislation we are looking at. one thing jim was talking about was prescription for those first-time opioid users, what we don't want to do is take them out of their hands. to make sure it is between a doctor and the patient and at the same time using gao fda and going beyond looking at reimbursement for other types of pain relievers that are not covered under obamacare and medicare and medicaid. jim has been thoughtful on this. we know we have to act now. not only the president has put this is an epidemic with our community as well. i'm optimistic if we can move this through it will be a good first step in addressing this crisis. stuart: a few months ago we use to have you on the show when we talked about obamacare repealed and there was never a smile. >> smiling on tax reform. >> good to see you in a good mood. let me read this to you. we talked about the staggering online sales numbers for cybermonday. that is one day. 81 million people shop online or on their phones, shopped online, that is a record and that was one day, cybermonday. i'm astonished by that. bigger fish areas amazon. look at the stock this morning. down $40 a share all the way back to 1152. i am not sure, that could be on the run up and so on the news. >> i love the stuff that one in 5 people shopped in the middle of thanksgiving dinner online, avoid the politics and fighting. stuart: air b&b letting you split the cost of a rental with 16 people. one person had to pay the entire bill up front and you can make restaurant regulations through its apps. air b&b plans to build its own apartment building in kissimmee, florida, early next year. chevy is unveiling its fastest corvette ever happening at the la auto show and you will see it first on "varney and company," 15 minutes from now, a bombshell development at nbc, matt lauer fired, donald trump tweeting about it, full details on that in just a moment. ♪ >> bombshell news fall, matt lauer out at the nbc, the today show, donald am tweeting about it, provocative stuff, inappropriate sexual behavior in the workplace. when will they be fired for putting out so much fake news, check out andy lack's past. that is provided indeed. the president tweeted the more about matt lauer. >> he was the entire operator nbc gone. here is the quote. and phil griffin at nbc, and terminate joe scarborough based on the, quote, unsolved mystery that took place in florida years ago. stuart: provocative because when you are using names and putting them out to 40 million followers, it is brazen stuff, down to taxes, that is the big story. two senators, ron johnson spoke to donald trump about his concerns and here is what he said after the meeting. >> i wouldn't call it a warning, it was a good exchange. i was able to exchange my views, we have to pass tax reform, and going to fix it -- >> looks like he is a yes vote, the full senate vote on the tax-cut package. joining us now is the small business majority found her john ahrens meyer. senator johnson said he relies on the president to fix it, that small businesses find themselves in, elected benefit from taxable many big corporations. how do you think it could be fixed, in your direction, to benefit you a bit more? >> the problem right now is they are fiddling around with making changes at the top end of the income spectrum which is not where most small businesses are. if you want to fix the problem instead of adjusting what can be adducted at upper rates, 13% of 87% of small business, not going to be affected by that. we propose giving a flat automatic deduction of $20,000 -- >> you are not going to get that. i don't think you can get that. you will not get such a big shift like that. >> it is rushed through in a matter of weeks, ideas like ours considered. everyone talked about this 30 years ago, took two years to put the ideas together, months of hearings. i would agree with you it is not likely many things that should be changed will happen in the next couple days but that is exactly part of the problem with this process. stuart: if you were a republican senator at this moment would you say no? would you reject the tax package as it stands now? would you say no? >> yes i would. stuart: then you will never get any kind of tax cut, you will never get the president's growth agenda going again and republicans will be toast next year. >> this isn't about partisan politics but doing what is best for small businesses and right now the way the law is written the vast majority of benefits will go to hedge funds, real estate investment trust and others at the top end of the income spectrum, and mainstreet small businesses. it is not a question of partisan politics but doing what is best for the american economy. right now passing a bill that will blow $1.5 trillion whole in the deficit when we have -- stuart: you don't believe in dynamic scoring? >> the scoring that is come out so far shows $1.5 trillion whole. there is no -- >> dynamic scoring, you don't? >> there are many different opinions on this but there's very little evidence giving tax cuts to the very wealthy are going to trickle down and produce dramatic economic growth commensurate with the hit to the deficit. stuart: i'm surprised to hear this. i would've thought tax cuts to businesses, big and small, tax cuts for individuals, would stimulate the economy and a great benefit to small businesses. now you say you have a problem with $.5 trillion worth of deficits, it won't be $1.5 billion worth of deficits over the next we 10 years. >> there a way to pay for it by limiting productions that are there right now. the one trillion dollar cost of allowing offshore income to be deferred, we could 6 that. there is no reason for that provision to be in here and all the cuts you are talking about, the vast majority are targeted to very large pass-through entities and wealthy individuals. 70% of the benefits, you want to talk about stimulating the economy, we need to have a tax cut that is targeted to the middle-class and targeted to ordinary mainstreet, small business owners and that will put more money in the economy. not what is written right now. stuart: we will bring you back later on because i have a disagreement with you, i you are totally wrong but there's room for debate on this show. welcome back to the show, see you again soon, appreciate it. a judge rules make mulvaney can remain and be head of the consumer financial protection bureau. it is a victory for donald trump, one op-ed writer in the wall street journal called the events leading up to this a coup attempt. judge andrew napolitano on that. next, chevy unveiled its fastest corvette ever, the first time you will see it on tv. we will head to the la auto show for the big reveal. ♪ let's go ♪ let's go ♪ let's go ♪ let's go ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. stuart: you are about to see the fastest car, corvette, ever revealed. it is being revealed at the los angeles auto show and we are there. hillary von is standing next and will show it to us. >> reporter: right next to the fastest corvette ever, they are calling it the king of all supercars, his maximum speed of 212 mph, go 0 to 60 in under 3 seconds, not just the fastest of its kind but the most drivable, carbon fiber events are fully functional, letting the car breathe at top speed making it more aerodynamic, the rear wing design is a big deal for performance, 50% more down force, 1000 pounds of weight on the car helping it stick to the road. also they have this new convertible they rolled out last night, no one was expecting it. it will cost a little more but if you want to feel the wind in your hair at 200 miles an hour this is the model for you. stuart: this is the model for me, good stuff. the tesla roadster go 0 to 60 in 1.9 seconds with a top speed of 250 mile an hour. we will be right back. are you on medicare? 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>> we are not there yet and it is important to put this on the historical perspective. go back to john f. kennedy who saw the importance of lowering taxes, ronald reagan in 1986, 31 years ago, this is a moment that comes along once every 20 or 30 years and that -- my dad taught me growing up in construction let's measure twice and cut once. we are getting close, not there yet and it is important to fight on behalf of mainstreet businesses. 55% of private sector jobs are mainstreet businesses. stuart: your colleague, ron johnson, republican wisconsin raised a similar issue, he wants more benefits going to small businesses. he hasn't got what he wants, a yes vote. will you say that for us. and the mainstreet businesses with better parity. >> if you don't get what you want are you going to be the senator who says no to tax cuts and thinks the growth agenda and the republican party next year? >> the importance of getting the bill passed is not lost on any of us but we are called the greatest deliberative body in the world, not sure we always live up to that reputation but we should be able to deliberate and debate and talk about what is right for the mainstream businesses. the problem, the large corporations have plenty of lobbyists on wall street but it is important to be the voice of mainstreet business, i was on the phone the last couple days with the potatoes armor in montana, baker, baked goods company in montana, construction company in montana. these are the engines of our economy, 55% of private sector jobs, two third of the job growth have come from the music mainstreet businesses. i'm awful reducing taxes. let's get it right for mainstreet businesses, we are getting close, not there yet. stuart: can you see voting no? >> if we can't get better treatment for mainstreet businesses i can see voting no. i want to see the package that we have got to get close, have great discussions. the conversation this weekend with donald trump and mike pence, gary cohen actively engaged, it could help, talk about the numbers, healthy dialogue, that is what we should have on capitol hill. stuart: if you don't get everything you want you are a no vote? >> i won't everything i want, a lot of things i do want that i'm not going to get but on behalf of the mainstreet businesses, small businesses across america, that is the fight we are battling for. not there yet. stuart: they bargain hard in montana. >> out west. stuart: i don't say that kind of thing which montana is the only state i have never been to. if you vote yes i might pay a visit. >> delicious montana steak on my grill if we get this past. it is on me. stuart: thanks for joining us. the consumer financial protection board, senator warren's government with government going after banks make car loans accusing them of racist lending practices. judge andrew napolitano is with us, you saw this, and article in the wall street journal. judge napolitano: had there not been this conflagration over who was heading this i wonder if the american public would know this is almost literally a government with the government, guaranteed funding not from the taxpayers, virtually immune from congressional or judicial interference. they regulate areas they are prohibited from regulating and supposed to regulate banks, not car dealers and get this, regulated car dealers, the way last name sounds. this is name sound like an ethnic or minority name. stuart: they went to the banks to the car dealerships, we don't like lending practices a, we can prove that you charge a higher rate to people with black sounding names and they find the banks, no appeal, none whatsoever, some of the money went to activist groups. judge napolitano: was this the intention of congress, to frustrate all of barack obama's successors, even one like the president who was elected on a program of deregulating, not accelerating it and if that is the case, how could that be constitutional, whatever reason, he hasn't given reasons yet, judge kelly, a brand-new judge, i remember when i was in a judge gave for ruling in favor, ruling against mrs. english and her application in joining the president from putting mick maldini in. whatever the reasons it should have a happy ending and that will be the person most recently chosen to be the president of the united states will get to choose the head of this monstrous agency and he will dial it back. stuart: not only dale it back to change the nature of this agency, he should be accountable. you cannot have a government with the government and accountable to anybody. judge napolitano: that would take a vote in congress and it will take 60 votes in the senate to get this out from under the federal reserve and put it where all the other agencies are. of congress doesn't like what the epa does because it is overregulated it can add money to the budget or take money away. congress cannot do anything to regulate or control or interfere with what this does. stuart: senator elizabeth warren's creation of this agency. judge napolitano: she ran it before she was senator warren, law professor warren. stuart: how did she become -- how did she -- judge napolitano: what did she say about herself? let's not go there. stuart: it is fun. thank you for joining us. a very serious subject, very upsetting subject. a libyan militant cleared of murder in the 2012 benghazi attack. he was found guilty on terror charges. chris is the man who was there in benghazi when all this went down. i want your reaction to the news that that man was not found guilty, he was found innocent i guess of the murder charges. >> should never have gone into a criminal court. it is not a criminal issue, this is a war, this is murder. during a war, wartime operation or during a combat operation, the best thing that should have happened to this guy in his case should have been a military tribunal, the worst thing or the best case in my scenario would be that extraction team actually putting a bullet in his head and not bringing him back over. you're setting a bad precedent. stuart: the problem in the courtroom for the jury was our government had spent $7 million on a guy who informed on him and he was a paid informer that ratted him out. he could have pointed finger at anybody. that was the fault in the case, the prosecutors ran a very bad case here. >> you are wasting money and that is why you don't do this, how do you give a terrorist due process, how do you give a terrorist protection in constitutional law? you interrogate him and put him in gitmo, that is what you do or you eliminate him, there needs to be done to terrorists, by putting him into criminal court this is what happens and it becomes a complete sideshow. stuart: no doubt in your mind he was the mastermind behind this. >> he wasn't the mastermind. he was there, he did fire his weapon, the mastermind term was set by the old administration and they are trying to find a scapegoat, to get this thing quieted down. the obama administration saying this guy is a mastermind and we got them, the problem goes away, that is what they are trying to do. he is there, took part in it and he is a terrorist, he was part of the killing of ambassador stephen and sean smith but to say he was a mastermind, that is not. stuart: i only have 30 seconds. how do you take it personally, what was your personal reaction to that verdict? >> my personal reaction was discussed. the beltway, the beltway needs an enema. the politicians and attorneys get involved with terrorist activities and this is what happens. you see complete injustice and it showed our weakness to the terrorist community. stuart: always a pleasure, thank you for being with us and we honor this. much more ahead on matt lauer. he is out at nbc. the latest case of sexual misconduct in the workplace. is this just the tip of the iceberg, not just in media but any industry? 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[heartbeat] stuart: a bombshell story that broke early this morning. today show host matt lauer fired for alleged sexual misconduct on the jobless national syndicated talkshow host larry elder. what is your take on this? there's an awful lot of talk this was the tip of the iceberg. i don't want you to speculate but you know what is going wrong out there. >> i do but after the harvey weinstein story broke i said this is going to be the tip of the iceberg not just in the entertainment industry but all over america and you are seeing this, you saw the part of charlie rose at cbs at fox the departure of eric bowling and the big guy, bill o'reilly and now you see matt lauer. who is next? the biggest loser is billy bush. the guy who got fired for tagging trump on. that is all he was doing and trump goes to the white house, billy bush in line to take matt lauer's job but both are out of work. what nbc did by having the bar at that low by getting rid of billy bush, matt lauer had 0 chance to survive. if you get rid of somebody for merely egging donald trump on the locker room language, this behavior matt lauer allegedly engaged in and apparently not only one incident, he had to go, there was no choice. this happened last night, very swift and matt lauer put out a statement defending himself, whatever it was was bad. stuart: extraordinary. i'm having a hard time to bring up with this to be honest. i want to move to the nfl ratings, football ratings thanksgiving day, way down. each game was down double-digit compared to last year. this is thanksgiving, turkey, football, people did not -- we have numbers on the screen, way down, double digits. here is my take, football went straight up in terms of popularity, tv ratings, i think it has peaked. i don't know if it crashes but it is on the downside. >> someone who agrees with you is the ceo of papa john's, who in an earnings call blamed the nfl protests on declining sales because not enough people were at home ordering pizza. he got hammered by think progress, the website set up by george soros, the headline read papa john's ceo blames black players were disappointing pizza sales, end of quote. that how crazy this is, you can't even complain about it with and call a big it. stuart: how do you feel about it? black football players, they are taking the knee in very large numbers keeping it going, how do you feel about it? >> the whole thing is bogus. the whole thing began because michael brown saying hand up, don't shoot, a complete and total like him affect his police shootings against blacks according to the cdc are down 75% in the last 45 years. there are two persuasive studies, one by harvard black economist who said the police are more hesitant, more reluctant to use deadly force on blacks than on whites. if you look at black men who have been killed in last year there were 17. you were more likely as a black person to be injured by lightning than to be killed as an unarmed black man by the cops. 500 whites recalled not all of them unarmed. couldn't name a single one. it is getting people killed, the police are becoming more passive in chicago and st. louis and baltimore, crime have gone up and police are more passive. executions of cops by people agitated by the black lives matter argument. two cops in new york, were murdered by a guy who was angered by the proliferation of police brutality and 5 cops were killed in dallas by a man who felt the same way. people are dying because of this idiotic protest, it is offensive, it is dumb and the whole premise of it is bogus. ruth bader ginsburg referred to the protest, is dumb and disrespectful. nobody called her racist. stuart: thank you very much. >> the most suspenseful business model and you are right, details go down, and patriotism. stuart: we will see you again soon. at a big discount part of the fallout from the massive hack how companies defend themselves, can they? is this a phone? or a little internet machine? [ phone rings ] it makes you wonder. shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. choose by the gig or unlimited. and ask how to get a $200 prepaid card when you buy any new samsung device with xfinity mobile. a new kind of network designed to save you money. click, call or visit today. stuart: first i bring you this news, senator orin hatch, senate finance committee chair says a vote on tax reform will happen thursday or friday. this week for sure. now this. huber hacked, 57 million people lost their personal information, they tried to cover it up, delayed for about a year and releasing details of this hack, how is that for a response to a dreadful situation on your company? the ceo of a data protection service, welcome back. the value of huber dropped 30% because of this hack. what did they do wrong in response to the hack? >> that the great question and 30% might be just the beginning. we should take a moment and focus on the new regime at huber. there has been a lot of focus on a lot of the cover-up around ip issues with google but if you just take a look at this hack and the fact that the new ceo had two months to disclose the information to the public and essentially dumped the information before thanksgiving in the hope congress wasn't going to focus. stuart: that was his mistake? >> a huge mistake when trying to change the culture of the company and in the future you are asking the public to trust you to essentially go into self driving cars. stuart: what should he have done? >> he had a moral and legal responsibility to immediately disclose the information with you had the ftc on the inside at huber taking a hard look at the 2014 hack and data disclosure laws where you can't protect against a hacker. everyone is being -- >> exactly right. you have got to assume as a ceo that the bad guys are already income you have to identify your most sensitive assets and the most sensitive data of your customers. that is your response ability. stuart: sorry to cut this short but you know how things go. active newsday. very much. there will be more varney after this. . . . . stuart: well look at this. the rally has faded. now we're up just 48 points. more importantly, look at those big tech companies, way, way down. what is happening, liz? liz: dropping like a rock. taking a breather. they were up so dramatically year-to-date. mutual funds, other funds are doing basically rebalancing of their portfolios to hit performance targets. rotation into financials as there is a pause in the vote to see if the senate tax cut vote goes through. stuart: money in big tech, take it out and put it in something going up. neil, it is yours. neil: thank you, stuart. the rally petered out a little bit here. a lot might have to do as lizzie said the timing of the vote itself, when they get into this debate athon and argument back and forth there. is a clock that is going to start. we don't know when that is going to start. that is weighing on investors right now. the wait to get to 24,000, these milestones, 1000 point markers, to step back and say wow. if this were to happen today, even intraday, would be the fourth, fifth such 1000 point climb we've seen this year. it would be the sixth since the president was elected, if you

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