i always appreciate your writing and editorial in your thoughts on banking and bank regulation. what do you make of what is going on? >> thank you, it's so good to be with you. if you are a bank, you depend on a government charter. if they come after you, practically speaking, you cannot write them. so it's the same kind of thing that happened and the government is now on a roll. in forcing banks to make ridiculously high settlements and if these were real problems, private parties that were supposed to be victims would be suing and winning in court. but you can see that it's only because of government having the power of the gun, that they are able to get this done. >> i love you brought that up. when you think about it, the watchdogs did not bark in the run-up to the crisis. but they had all of the regulatory powers all the way back to 1991. they have gone after the bad guys on wall street. this seems like enforcement theater that the general public is ignoring. so william douglas, he basically said, you know, the the, the watchdogs, they are behind the door and now it is turning into a super vacuum. >> i think that is true. the regulators have the banking business because there are laws that click with each other and you can't comply. so even if they can't get you on this issue, you know that they will be on something else and that somehow if you miraculously win a case like bank of america, they will get you on something else and therefore you really don't have a lot to do. liz: that's a very good point. we give it to you straight, we give me the information, we do the reporting and we do the journalism. when the justice department heads the banks up after the fact, kind of refereeing what is going on, the money goes back into the justice department and the justice department's annual budget is like 27 billion and they've gone beyond that right now with the fines. you have new york city with their department of finance, it's four times the new york state budget for that finance law enforcement agency. >> at the same kind of thing that you see with compensation by police, if someone's involved in this, the police talk about getting the money, but you have to care about the system here. the justice department gets the money and that works into salaries and benefits and the justice department. and so they have a two-man this incentive to implement these fine. in new york state have a long history of problems when they finally dead get this and they always lose. so that's very interesting. >> that is a good point. just to be clear, the cleanup of the financial crisis, instead of arresting the bad guys, they are hitting their banks up with fines and then keeping it for their own budgets and the money is not going back to taxpayers. >> that is right. in the end consumers pay for these fines and people don't get that and so the banks are barely making this because of all the regulatory stretches. so somehow they have to find a way to pass that along to their customers over time or they can't raise capital. >> negate pass through to somebody. liz: thank you so much for being with us. we appreciate you joining us. now we are going to hit up with our fox business all-stars. so what do you think? >> it's unbelievable.first of as just fantastic and he tells it like it is and this is turning into a $7 billion was fun. 4 billion going directly to the government and only 3 billion goes to either states or individuals who are allegedly her by the financial crisis. so this is exactly today that we had evidence with what the new hearings that the justice department was using irs records what you care about is you should. using them as their own database. not only are they taking billions of dollars, but then they are trolling through the irs personal liz: interesting. to that point we were talking today about bank of america and the mortgage problems with country ride and interesting with merrill lynch but we want more customer release more bar were relieved but they say no. with the $17 billion problem we want more cash out of that what you think of that? >> it is very interesting to see how this will is an end escalation to be victims of these problems across the banks because there is a lot of attention paid but how much does that actually benefit the individual? for a lot of people of fox business is where that matters or not at all and it is different than what some people would argue it is a slush fund that it is a creating a recent. >> where does the 4 billion go? 3 billion goes to the of victims'. >> the argument could be this is a way to deter banks from even in gauging. liz: and setting that aside but joe, what it is interesting i know that you are smoking a cigar. [laughter] here is the thing. we see a government bailout of banks with regulation that seems to be made moot with the bailout then they take the money is this the template we are working with because these guys in washington d.c. dell want to stand up to be the enforcers to stop the problem from the outset? >> this is from gambling all those years with a high risk mortgages now just like when you lose you have to pay the of bookie. they keep it. so this is the vigorous and i don't know about david but i am glad that the banks are attacking them for all these years they were giving it to us and created this. liz: but let me push back. yes stick it to of the bank spent the day now in the fallout years later the taxpayers and consumers are still not helped it is the government that pockets the money. >> if you use my analogy of the bookie's system it doesn't say what? you will put $1,000? he does not care if you lose he will collect that is what the government is doing right now. liz: and the crash has investors fearing another crash and a sign that investors are shaking in their boots and politicians preparing the of crisis at the border for the holocaust? the of rage after this. >> inclination is to remember what happened with a ship full of jewish children to come to the united states in 1939 and the united states turned them away and many went to their death to the of not see concentration camps. really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. liz: well, a debate as to how to help legal children and feeding him. people are and what about american children in need remark taking a look at some of the statistics, government statistics, one in seven americans are living in poverty, one in four children are living in poverty and activist ted hayes lives in california and he says, we should be helping homeless american children first. so here is the thing and the issue is that we want to be compassionate and we want to be able to help children. but i think that this is, this debate is getting away from the problems that are at hand here in the united states. what is the reaction that remark. >> you are absolutely correct. how could we show love and compassion to children or others when we are ignoring our own children right here living in this streets in foster homes, oppressed and homeless, so how can we do that? it is immoral, and it is painful, actually. liz: the narrative that we are hearing is that we hear politicians say that these are children that we should be compassionate towards. americans are compassionate and generous by nature and we have thousands of people in detroit, for instance, their water is being shut off, we have south chicago in chaos. we have cities in your state of california that are incorrupt. so what is your reaction to that when you see what is going on in our cities, being the person that you are in your experience remark. >> the general population, while they are being hurt by this, i think the rest of this, the so-called african americans, this is really devastating to us. in los angeles, we are being as no racially cleansed by this population coming into our country without the permission of our government or the american people. so we are really catching it in los angeles. it's not fair to the legacy of our people. liz: getting back to the state of california, you see what is going on. california has, by some estimates, the most illegal children, the highest number among all of the states of homelessness. so how will this impact the cities and counties in your state reign. >> it's going to drive us further into debt because we are going to have to pay for these people as we are now and it's going to drive jobs away from communities and my folks up, they are needing gainful employment in los angeles. so it is causing chaos in our country. and they are using these poor children. liz: you so much for joining us. thank you again. well, democrats getting some heat for this. take a lesson. >> my inclination is to remember what happened when a ship full of jewish children try to come to the united states in 1939 in the united states turned them away and many went to their deaths in not the concentration camps. >> we look at the holocaust and the people who died, because we forgot our principles. >> so michael wilde says this comparison is unacceptable. he's a former federal prosecutor. what do you make of that? >> i'm a proud american and a proud jewish citizen. it's good for them to invoke the lessons and that is true. because children fleeing persecution was turned away from the u.s. shores and those children then met with their data. however, i think it is inflammatory when we don't know right now whether or not the children coming to our southern border are fleeing for financial persecution or better economy or actual political persecution. we have an established that there is incredible fear or if they're all the rumors of a free ticket into america is the one you like it could be dangerous to compare the holocaust in comparison. >> you're talking about when rockets are being shelled, born out of the destruction and devastation of world war ii. so i think the senator was well intended, but they are jumping to conclusions. when we use the word holocaust, it's an inappropriate word to use until the jury has spoken and we have those children honored and a process here. what's really disappointing is the dialogue has deteriorated so significantly that we are polarizing and taking offensive. that was a genocide and people were being destroyed. that's not what is happening here. liz: instead of just using an inside voice, this goes beyond the tedious self-righteousness. when you invoke the holocaust, that's bullying people to agree with what they want to do if people disagree with them. >> particularly when we don't have information. america should have a military presence in the border under control. we should be able to absorb people if there was a devastating hurricane and wait for southern border and the drug cartels are the ones profiting from this confusion of dixie dozen children. for people coming here lawfully, this is not good for our homeland security. >> some people want to immigrate lawfully. >> absolutely. it's not reflective of the greatest experiment in democracy in america where we are a land of immigrants were the rule of and a border is not prepared for something that we should take in stride. >> that is an interesting point. it's almost like a thermometer. and the fact that the border is not secure, the fact that we have immigrants trying to come here and they see this lawlessness and the fact that now has gone to and that is not that the debate at all. we have cities that are in trouble we had stayed and we have a balanced budget by law. >> and those humanitarians and we have to ferret out are these children here because they are actually being persecuted and are entitled to this interview or for better economic change? celeb me ask you, does the senator feel that this make it more inflammable by creating greater rumors and taking this dialog to another extreme? >> i am sorely disappointed. when the holocaust is invoked, disappointed at the way the administration and my leadership and party is handling this. >> i really appreciate you joining us. >> take a listen. >> this very serious influx has been brought about not to benefit the young immigrant children, but in order to benefit the democrats and the 2016 election. liz: coming up, another liz: coming up, another hollywood actor to speak out. c'mon, you want heartburn? when your favorite food starts a fight, fight back fast, with tums. heartburn relief that neutralizes acid on contact. and goes to work in seconds. ♪ tum, tum tum tum... tums! my motheit's delicious. toffee in the world. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. . earth justice defends that right in the courtroom. and we win. join our fight. earth justice. because the earth needs a good lawyer. ñ@ç@çpçpçpç÷ñoxmhmhyhyhyhyhy♪ i voted for culture... ...with a 'k.' how are you? i voted for plausible deniability. i didn't kill her, david. and i voted for decisive military action. ♪ xfinity presents the people's hotlist where you choose this summer's top 100 shows and movies. and all you have to do is watch with xfinity on demand. now through july 23rd. vote! when you're voting for this summer's top 100 shows and movies with xfinity on demand, beep, beep, beep... watch to vote for family values on family movie night. this message paid for and approved by xfinity's family hits. tell me the whole thing again, i wasn't listening. watch to vote with xfinity on demand. for this summer's top 100 shows and movies. and remember, the only thing to fear is fear itself, and spoilers for shows you haven't seen yet. global...pandemic. ♪ liz: is hollywood moving to the right? more actors speaking out against government my next guest says he's one of them he's been seen at over 130 feature films robert, you are a singer? >> yes, and i'm on amazon and itunes. i just got back from australia there. i invite everyone listening in the metropolitan area. liz: okay, let's talk about your column. what are you going to write this column and i have seen this frame and i think that our immigration policy is broken and we need to freeze it right now. the ins has a huge problem. so no. liz: what is the american cultural society? >> what i'm saying is they are traditional american values. and the pride of being an american we have a system that is flooding from the 60s on. >> when you go tellis island, from here to here, all of a sudden. so we need immigrants and all this came from our population, but you have to assimilate. i want them to say the pledge of allegiance to the flag and you have sections of england and other areas, there sharia law and they cannot go into that. but all of europe, that's happening to them. liz: the reaction to that is to be treated like a nationalist with looney tunes. and what you just said comes off like you are too far to the right, too far to the lat. >> it has nothing to do with this, but it america than it has to do with being able to assimilate into a country while maintaining my cultural roots. >> uk now at this column in iran in this well known situation. so is there one where people have acceptance of your viewpoint? >> i don't really know for sure, people speak and viewpoints. and you get this about anything. so, you know, whatever the flavor of the month might be. >> but to me, now, it's still very extreme and liberal. and i understand that and i understand what comes from. >> and is interested in it because we talked about this and through the years people have talked about how difficult it is >> you can say that there is a backlash against them. you may not get as many parties. but we care about being able to speak out whether someone agrees with it or not and we care about the certain traditional understandings and i think when you have the inability to put a christmas tree up in the town square because people think it's politically incorrect, that is offensive to me. >> we will come back right after this. thank you and thanks for coming again. coming up, the border crisis and another bank account crisis. we have the details after this. ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. but hurry, offers end july 31st. share your summer moments in your mercedes-benz with us. >> here's a question for you. our illegals coming here for citizenship payment or just to make money? reports showing some are taking the money that they make here and wiring a home and regulators are now cracking down on its wire transfers. banks are hiking rates. we have a chairman that is going to explain at all. he says this is giving banks like his huge headaches. >> government is concerned about terrorist activity, using the international money transfer system for money laundering. so regulators are cracking down and forcing banks to take on additional monitoring and costs and a high risk business and most don't want to be in the high risk business because it is a risk in terms of giving regulatory penalties and they're not making profits like they used to do. >> let set the stage for the lay of the land for the viewer. so last year, 5.5 million american immigrants, only 36% have chosen to become citizens. so what is going on? there's added pressure on an already stressed out money transfer system because the u.s. regulators are worried about the wire transfers being used for money laundering were for drug interactions. >> and if you look at the numbers in the dollar values, it is enormous. in 2013 the united states sends 35% of this and more than 50% went into new mexico. the omelettes go back into this. it lets talk about this with david and joe here. what do you make of this trend? >> you have to balance things out. tomlin said that there are no solutions, just trade outs. >> they are laundering the money in my now right now we are convinced that the rest of the terrorists and the drug dealers laundering of money outweigh the cost to the banks. but i'm not sure based on what you are saying that that still holds. >> joe, what do you make of that >> i will agree with david on this, but there's another aspect we might not be thinking about is that it's bad for our economy and you come here and it will help us in the long run. >> what is interesting here is you look at the broader landscape of how transfer and how does it impact individuals it may raise prices in which which they may be deterring and also what actually happens in terms of choice. >> you have to leave it there. >> if we started at home depot today in 2010 as opposed to 1978, we could never achieve what we did. >> coming up next, why you need to build a billion-dollar >> it's not really a fox business alert, growing businesses are facing these hurdles. but it's not just lawmakers making it tough. sometimes it's your own employees. and he lays it all out in his new book, how to build a billion-dollar company. sir, i read your book and it is terrific and that is to the point and it is clear. one chapter that really grabs me what i felt was so key, we have people trying to make their way in the world and start their own businesses, you had a chapter on what happens with your own workers and how your own workers could put your company at risk. can you tell us more about that? >> absolutely. there's a chapter on things they can go wrong. what i have seen in companies and most recently some of the companies i have worked with, they have employees that are stealing from them and have taken some kind of ownership of the company and they feel like they should take things like checks and products and they've actually been stolen checks. even though you have problems at higher levels as well. people in views things, and we find all kinds of things goingoo look at them. liz: wiki senator baucus so fascinating book is so fascinating. some of her greatest employees and greatest workers, guys and women who can really grow the company, they are the ones who have this entitlement syndrome that say, okay, the company owes me. and so they start to steal and very interesting levels, in my mind if you are a ceo, you go through a life lesson of what it means to deal with human beings. he said that people take home office supplies and she on expense reports, they lie about overtime, they basically damage your company while you're dealing with the government. >> and if you have thousands of employees, you can certainly imagine. we saw this in health care. people think nothing about taking home various products that they might pick up at work, pens, pencils, pads, staplers, whatever might be. and on top of that, lotions and different things that are clearly not theirs. if you have thousands of employees that are taking products in with them, every day taking it out of your business, or a period of time it can be large sums of money. so not only young entrepreneurs, but we are talking about people that have big companies throughout the ranks. people don't look at that necessarily as stealing. so there's a line there as to what is criminal and what is not. some questions need to be looked at and i think companies need to have systems in place, they have to set a call to. because over the period of time it can be large sums of money. liz: no kidding, you don't want to spend 20 or so in a company and have this happen. at the same time you're dealing with that, you're trying to build a company, you have to deal the government and have labor laws and compliance divisions in place and are dealing with so much at once. >> the government regulations, whether it's oh shut warhead by order new affordable health care, there are all kinds of regulations and it's an entire industry call compliance and one of the great companies that i'm looking at is a company that does nothing but offer companies solutions and compliance and i think it will be a billion-dollar industry. liz: well, the government does create jobs, so there you go. [laughter] i'm being facetious. they give her coming on the show. liz: coming up next, what happened in the ukraine has investors scratching their heads and fearing for their wallets.ñ liz: welcome back in our first business blitz, we had a tragic plane crash in the ukraine. is that making investors fear the markets? the malaysia plane had crashed and investors quickly move the money out of stocks in u.s. government debt which some say is a safer bet. we are back with our all-stars. what you make of this? >> this is a developing situation. what is most interesting is how the u.s. will end up responding right now. >> that is true. so here is the thing. i mean, we see the triple digit and we saw gold spiking. we've seen this happen before and investors tuning out the noise. and we do have a geopolitical crisis. >> the big question as to whether this is the black swan event or if this will override the bulls in the market who have, as you correctly said, have just ignored the problems and climbed all the walls. and it can be proved that this was shot down by a russian missile from russian territory. then that would mean war, otherwise it is a prolonged black swan. >> in 2001 it was a commercial airline over the ukrainian airspace in 2001 an accident and the ukrainians apologize and they said it was a terrible tragic accident. >> we are going to have a global outrage of what happened in the ukraine. and this includes a knee-jerk type of administration. they have been a reactive type and i think that our economy has regulated itself because i know the administration is not out in the forefront like previous administrations. so i think that investors will be cautious. >> next up this next topic. this is something that has been going on for years now. >> ones protesting atlantic city casinos, now they could be faltering. they are fighting to keep this open. at the brink of total collapse, the only thing that will make us rational is working with them. >> it's like fighting the weather, you just can't do it. if a company is losing money like a lot of these casinos are, a strike is not going to keep them open unless they can use their political power because unions have a lot of political power to get this. in the case of governor chris christie, do you really think that he's going to use the money to bail this out, i don't think so. liz: you're talking about the optics of it. okay. so why wait until the 11th hour? wouldn't you rather be rational by helping out the company? >> it may be the case that saving a casino in 2014 is very difficult to do and there's been a very huge migration of gambling that's very difficult, it's a tougher cover you to spend money. so from the union's perspective, perhaps they would say it is just about their jobs potentially going with and everyone blames this for taking cut. now, these guys have run this casino into the ground. >> see you talk about union leaders here? >> i'm talking about leaders of american casinos, any companies him and the first thing, what do they do? a pay people and they are making big money and flying around on planes. >> here's the thing, i hear what you're saying,. >> isn't it better to keep your union job at the reno two we know that atlantic city has been in trouble for years. be rational instead of waiting for them. >> because the union work most likely, living paycheck to paycheck, the casino executives making six and seven digit salaries and bonuses and here is why we push back. >> are companies moving overseas because of higher taxes? your answers after the break ♪ ♪ really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. >> time for tweets and phrase book posts, first up, are companies that move overseas unpatriotic, tim on facebook rights, this is not a matter of patriotism, and greg tweets, who does jack lew coul think he is? robin hood? are businesses not free to do what they want with their own money. and kb writes, jack lew, the worse political economic flat-earthy, instead of fixing the punish he proposeed to punish start folks. unbelievable. >> why they are leaving is what the government should resolve. and finally, a company must do what is in its best interest. and keep those tweets and facebook posts coming, use hash tag cavuto. and thank you for watching, pick up a copy of m book. i think grateful to it will you it is hit number one. i enjoyed writing the book, i hope you enjoy reading it, thank you for watching. john: a hundred years ago americans could travel without a passport, and we didn't have to show an i.d. when buying beer or checking into a hotel, taxes were low, and businesses relatively unregulateed, america became prosperous because of that. and without a minimum wage. ys saw their wages doubled. it seems like it is either pro heub i said or mandateed. -- prohibited or mandateed. do we live in a p police state? is big brother here? i don't know, but i'm here, with several thousand people. we're abo