Transcripts For FBC Making Money With Charles Payne 20171127

Transcripts For FBC Making Money With Charles Payne 20171127



remains optimistic he could support a bill if changes were made. it would be brought to the floor as early as thursday. the possibility of a government shutdown looms. here to discuss heater higgins, president and ceo of independent women's voice and ford o'connell and kayleigh macini. how many cornhusker kickback deals can be made between now and thursday? >> there will be a large bevy of amendments that will come forward. i think this bill continually gets better. but the differences are not irreconcilable. they believe in empowering the american people and keeping more of their wealth. charles: you send a lot of time in d.c. and new york so you understand this as well as anyone else. people are hard pressed to think that people would mess up tax reform but it happened with obamacare. >> there will be serious last-minute negotiations. but i think most of of them will improve the bill. charles: what is an improved bill? >> i think ron johnson and steve d air, nes if they can -- and steve daines, if they can take the pass-through rate and lower it, that will help. and the salt taxes will make senators in new york and california peel more comfortable -- feel more comfortable. senators like rand paul understand this is not the last tax bill that will come down the pike. after the senate healthcare bill the senate d got to watch their donations go through the floor. that brought awareness that if they don't pass something, they will be in hot water. you have got, mccain being a perpetual potential last-minute fly in the ointment. but i think you will see this pass. charles: this ointment doesn't have a lot of room for any more flies. ford: kentucky senator rand paul is an absolute yes. here is where we have a tug-of-war within the republican senate conference. between those with mounting debt concerns beyond the 10-year window and those like danees and johnson want to go make small business more competitive with corporations. the question with flake, corker and mccain. what back stop could we add as an amendment. if we are unable to achieve the revenues we say we can get. possibly we have a mechanical function. but i'm far more optimistic with this than i was with obamacare. charles: heather mentioned the republican fundraising functions. they have turned around the coffers are full. the party feeling good. particularly the rnc. it would see no one on the gop side would want to change this. but there is going to be some last-minute pressuring. we heard a week ago the idea that the individual mandate could be scuttled. i think that would be a mistake. i don't know how you find another $300 billion without that. if you could, walk us through how this will ultimately look. >> the individual mandate should stay. but what you are going to see as heather pointed out, changes on the salt, state and local taxation. perhaps benefits for small businesses. but would i push back on this idea that nors johnson and daines don't benefit under this, that's not the case. this is a good plan. every senator needs to step back and say does this bill leave people better off tomorrow than they were and the answer is absolutely yes. >> they are better off than they otherwise would be. to buy into the debt model is to bite cbo scoring model which has always been wrong. it's a time to ask give this the best we can do. charles: there is another element out there. that's that this hurts the middle class. that some of the different scorings out there show as you go further out, 2027, lower income folks and poor folks with a thanks increase. the 1%. is there any concern that. >> pact this even if the republicans aren't talking by the outwardly? >> i don't think it's going to. at the end of the day president trump prop is the middle class will have a thanks cut and we'll have better business growth. if we are able to hit 5% gdp, everything the media is talking about is budge because they are using liberal benchmarks in terms of what they perceive the goop to be going forward. >> we are on the cusp of the third consecutive quarter. that headline is going to be absolutely amazing. i think it will happen. we keep seeing economic evidence of that. beyond this thanks bill also looming large is the debt ceiling and government spending. could one of these things start to weigh on the other? could you start seeing horse trading with all three of these things? >> we have a busy month ahead. it's not christmas yet. but what i worry about with the budget and debt ceiling. democrats are being the obstructionists they once criticized. they criticized the republicans for shutting down the government. now the democrats are trying to tie the dream act to the debt ceiling. it's hypocritical. but i think we'll get it done because we have to. charles: it's a lot on their plate. can they get it through? the clock is ticking. >> they don't have to get it all done before christmas. but they have to get a lot of it done and i think they will. charles: president trump spend thanksgiving weekend blasting cnn and what he sees as fake news. they appear out of nowhere. my secret visitors. appearing next to me in plain sight. hallucinations and delusions. these are the unknown parts of living with parkinson's disease. what stories they tell. but for my ears only. what plots they unfold. but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. and these can worsen over time, making things even more challenging. but there are advances that have led to treatment options that can help. if someone you love has parkinson's and is experiencing hallucinations or delusions, talk to your parkinson's specialist. because there's more to parkinson's. my visitors should be the ones i want to see. learn more at moretoparkinsons.com yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. charles: president trump fighting back against the mainstream media and so-called fake news tweeting. fox news is more important than cnn but it's still a major source of fake news in the world and they represent our nation to the world very poorly. the outside world does not see the truth from them! charles: chris, president trump and his ongoing saga with the mainstream media, he doesn't take holidays off. he just went around the world again. you know go to the airports and these hotels and you see cnn is sort of the voice of america and not the voice speak for the majority of the country and those who voted for donald trump. >> you have got cnn and bbc. and you will not have the chance if you are donald trump to turn on your tv and see them saying anything positive. college students get their news from cnn. maybe there is a mystique about it being an international tbranlds and they trust it more, but the bbc has the same problems as cnn here. charles: the reporters go into war-torn areas. that's not what president trump was talking about. he's talking about domestic issues and opinions are articulated in way that do not reflect current america. >> that's right. you have president trump who won a national election. and you have a news organization that tree him entirely unfairly. everything is neck negative. don't take it from me. a harvard study looks at coverage over trump's first 180 days. ' cnn had 93% of negative on trump news. the numbers are there. if you want to be a credible news organization i would suggest approaching things if neutrally. >> a lot of president trump took the occasion to retweet a tweet about the joe scarborough show that was on the day after thanksgiving and it was presented as live. here is a tweet with scarborough responding to criticism. we have been making fun of the practice for years. it's also over the top to be obvious. they were acting like they just had -- like it was a live show the day after thanksgiving and they were stuffed and talking about thanksgiving by the was taped before thanksgiving. are they busted? >> they were talking about how good turkey was and how stuffed they were. my favorite part is fake news attacking fake news. "the washington post" assumed there was malice here. they astliewsmed was something evil with morning joe and mika making fun. joe said we were making jokes about the game. but if i was a viewer, and people viewing this were annoyed. charles: i was here on friday filling in for neil, so i know what it was like to have to get after thanksgiving and go to work. viewers in this fast-moving era of news. you had a major massacre in egypt and a lot of moves on the economy. mailing it in is one thing. but what about the dug-in positions the media has taken. any chance they can evolve or change? some people think it wouldn't be a bad idea for them to move closer to the middle. >> one would think when you have abysmal ratings, maybe you would reanalyze how you are doing things. but they are not. one would think after president trump won an election and you were entirely wrong every step of the way and you were wrong, you were bad at your job. one would think you would have a moment self reflection. but that hasn't happened. i don't hold out hope for it happening in the knew future. but the american people see through it. the majority of americans believe the media makes up news about trump. charles: let's call it a showdown at the consumer protection bureau. dueling parties. have you ever seen a bureaucrat tell the montana he' -- tell tht he's not in charge? we'll untangle the mess for you. >> the president made it clear wants to hear. since my names on the door now, i want to be here. i don't want anything coming out of here that it don't know about because it will be ultimately linked to me. charles: that was the cfpb director mick mulvaney. leandra english who was promoted to director is working to keep that tighting. gillian melchoir, and heather, it's been a long time. you are a legal eagle on this segment. what's going on here. are the rules so vague they left with us this mess? >> they are. you have two different statutes. i have a paper weight the clint gave me that says a good lawyer knows the law, a good lawyer know the judge. i do think that that judge is going to have a tough job deciding between one statute and another. charles: didn't the legal folks say the many mulvaney. you've should have the president appointing show wants for this administration's position. >> this is a symptom of a broader problem. this agency was constructed to be politically unaccountable. if you look at the abuse to what the office building costs and the fees it tried to impose. it's meant top be about consumer protection. the bureaucracy has run wild and no one can stop it. charles: a lot of debate is mick mulvaney's relationship with payday lenders. his criticism of the agency himself. and criticism that he may be looking out for the big banks. do you tbien that being a major concern? >> whether that is a concern or not isn't part of this argument. that can be poverty a broader argument if he's going to be confirmed for a permanent role. but the law is very clear. not only does the cfpd's general counsel say mulvaney is the acting director. the obama administration itself sued arguing this very same direction previously and tbhon tbhontth sir cut coast appeals over a similar issue of at a different agency. the president is the one who appoints directors urndle -- under the vacancy act. he appointed mick mulvaney and that's the ends of it. as of now, mick mulvaney is the acting director. and the lawsuit filed today is not feasible at all. charles: mick mulvaney talked. leandra not showing up for work. just moavments ago her attorney spoke. >> she was received by members of congress as the acting director. she is the acting director and we hope the federal courts will acknowledge that. >> 1,600 people showed up for work today not knowing who their boss was. know who you are work for. get theren do your job and stop wasting time and money. charles: what they they really done in the biggest scandal on wells fargo was discovered by the "l.a. times." >> one thing it agency has done well is intern career democrats as political operatives in the agency. some of the money was ending you have at obama fundraisers. this agency is character rides by what we don't like about washington. charles coming up. the clumsy effort of slamming the republican party while defending a quote american icon." can you say double standard? next. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >> i know that i've let a lot of people down. to all of you, i just want to, again, say i am sorry. i know there are no magic words that i can say to regain your trust, and i know that's going to take time. i'm going to start that process, and i know it starts with going back to work today. charles: al franken apologizing for alleged inappropriate behavior with multiple behavior but reducing to resign. this after democratic fellow, long time congressman john conyers is stepping down as the ranking member of the house judiciary committee amid multiple sexual misconduct allegations against him. although, he too reducing to resign. here now to discuss my panel heather higons and heather hanson. political analyst. amy, let me start with you. sorry you weren't heather today. we would have a trifecta. makes it clear he's not sure what he's apologizing for, and he's not going to step down. is there this double standard that has emerged in the last couple of weeks? this underscores all of it. >> well, there appears to be. and remember, with congressman conyers, there was actually a settlement based on his behavior and the allegation that he was walking around his office in his underwear. okay? you don't need a law or a policy to tell a congressman you don't get to take meetings in your underwear. this should be something shameful and require him to step down. and when it comes to the double standard, you hear this new talking point from democrats saying, oh, we shouldn't pleas our own because republicans don't do it. well, i have a name for you. bob livingston. he didn't even get to house speaker before he had to resign over a sex scandal. another name. mark foley. another republican larry craig. remember the tow tapping in the bathroom? he got out at the united states senate. so, in fact, republicans do police their own. charles: it's so interesting with conyers, not sure why i read it. but now like he showed up at a democratic event in his pajamas, and he has done these sort of things before as he has gotten up there in age. >> yeah. it's just making the entire conversation sound trite, and it's not trite. you know, many women have been the subject of this type of behavior, and women are coming forward and have the -- it takes bravery to come forward and to say these types of things. and to discount it as a joke and the object, it's not giving these women the true value of their voice. charles: one of the accountability acts, one of the worst named acts in history. along with affordable health care, but i won't go there. in addition to being intimidated by congresspeople, the process initially you report the incident, and you get 180 days for them to vet that. then you have mandatory counseling for 30 days. then you have mandatory mediation for 60 days, and then you have a mandatory, quote, unquote, cooling-off period for 90 days, and then you file a formal complaint. i mean, this sort of thing obviously, designed to discourage people from voicing these sort of atrocities. >> well, understand that the congress and the political parties are basically unions. they exist to protect their own. they exist to protect incumbents. the incumbents are paying large do you see to the different party organizations, and so that's why you find they work very hard to keep back challengers and to direct money to make sure that the incumbents remain in office. even if they're lousy candidates. somebody who may have some mentality issues lik like this. so it's essentially a means of protecting members more than about righting the wrongs. charles: so, amy, there's talk now let's blow this thing up. let's do this the right way. particularly if money is paid out. one form of opposition or question mark is should the people who receive settlements, payments, should those names also be made public, since this is taxpayer money? and the allegations are very serious. >> well, i think if we have transparency then, yes, that will be a part of the process. but what you just read about this accountability act or whatever it's called was -- actually treats the victim as if they're the person at fault for then making, you know, a complaint about behavior. i worked on capitol hill. i worked for the senate majority leader. i never heard of a groper slush fund using taxpayer dollars to cover up what is happening in people's offices. clearly, it needs to change and because we're taxpayers, there needs to be transparency and accountability. >> i work on making women become public. i think there should be complete transparency going forward. but women who made these agreements in the past should not be revictimized if they don't want to come forward. charles: what about in the future? because, obviously, if someone has worked at this job for 40 years, and they did not commit the atrocity, that's also pretty tough too. >> absolutely. and that's where this question of due process keeps coming up. what you just read is due process for the women who are making the accusation. i think we do need to have transparency, and we need to give the women and men who have been harassed so that they can come publicly. charles: right. they shouldn't be intimidated, that's for sure. real quick. is the due process now the voters in these states and these districts who will ultimately have a chance to reelect or elect some of the names in the headlines. is that what we're left with as far as due process? >> yes. in fact, i had a reporter saying, well, how come there's so much more accountability and entertainment in media? i said, well, because there's no boss to fire these guys; right? and so with the due process thing, it's very important to also remember that there's a fairly long history of accusations that are false; right? whether you're looking at duke lacrosse or martin preschool or various other things. so there has to be due process for both sides. but particularly for using federal money for this. there does need to be transparency. maybe they need to stop paying for it with the federal slush fund and the real problem with conyers is he was using taxpayer money to ferry in all of these women and be very explicit with employees that they had to put out or they were gone. >> right. and he was doing it in a sneaky way. >> one of the things i think you're going to see from the left now with a disproportionate amount from the left is they need to have an excuse now. so you're going to see the apology tours of the frankens. charles: of course, a month ago is everybody accused should quit. now it's, well, extenuating circumstances. ladies, we have to leave it there. all right. thank you, all very much. >> i think i should just date republicans. charles: coming up, the dow jones industrial average ending on a slightly higher note. but the bigger note, the housing recovery and some earnings after the close that are going to blow you away, and you should be in this stock. we'll be right back [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. charles: thousands of visitors have been left stranded on a island after the volcano has erupted and shut down the airport. the danger zone of the volcano affects 90,000 people charles: well, all the major industries hit all-time highs. even though economics coming into the session underscores my thesis that the american consumer is back. think about this. online numbers are very impressive on black friday. sales $5 billion up almost 17%. thanksgiving. sales of almost 3 billion. that's up 18%. and the holiday season, which begins from november 1st to november 24th up almost 18% and the guesstimate coming through the day cyber monday would be 16.6 billion. that would be a 17% improvement year over year. and shares of amazon to another all-time high and also roku, which has been one of the more popular items purchased last week. overall equity today boring. cyber currency is where all the action was. bitcoin made its fastest 1,000-point move in highest climbing to 161 billion overall. and there's a lot of other cryptocurrency names out there, and they're on fire as well. big moves. bitcoin up 68%. light coin up 65%. that's all in one single month. now, with the initial coin offers, icos, i'm trying to find the best names in this space and hopefully i'll have a special report for you on that real soon. new home sales for october up huge. more than 6%. but we see a decline of 6%. and they were driven by super strong growth in the northeast. your average price, $400,000 for your new home. that's an all-time record. 350,000 a year ago. and i think it's going to continue to be upward pressure on prices month's supply dip to just 4.9 months. that's really low. it's huge news for the housing industry overall, and i think also a great proxy for main street. after the close, another great sign of economic strength. from the recreational vehicle maker thor industries. now, i was a keynote speaker at the main event this spring. i actually brought on the company ceo in june and my newsletter subscribers, you guys should all own the stock. i've been talking about this since 2016. you should own this stock. it should be in your portfolio right now. if it is, you're in luck. they just posted financial results. they crushed wall street expectations. we're talking about record sales of over $2 billion up 31%. record net income 128 million up 63%. earnings per share up 63%. now, for me, this is the ultimate consumer discretionary purchase. i'm talking about an rv. here's the thing. everybody's forking over the dough. baby boomers, genx. demographic trends that are expanding the rv buying base in high consumer confidence by positive employment trends and general economic conditions. the bottom line is there's there's a lot more room for consumer growth, and i'm going to have more details on that w street.com. you've got to check in. meanwhile, a legal battle is brewing at the consumer protection financial bureau over who really legally can operate that agency. and also, denzel washington taking some heat for being honest. we'll be right back >> she sent out an e-mail this morning purporting to be the active director, and i wanted to make it clear that we don't consider her to be the acting director. charles: to temporarily head to consumer financial protection bureau. and the white house says it's up to the president. he has the right to do that. name and interim leader. but outgoing director to acting director on friday. now english has filed a lawsuit saying trump's appointment is unlawful. the white house says english is still -- the deputy director under acting director mulvaney. so does english have a case? here to discuss fox news senior analyst judge andrew napolitano. judge, this thing is crazy. i never knew someone at an agency could tell the president of the united states, hey, you have no authority. this is like a rogue agency. >> this is the most unique agency in all the government because all the other agencies -- if congress doesn't like the way they're doing their job, they can give more money to do their job, or they can give them less money if they don't like the job they're doing. this agency is paid by the federal reserve. it's not paid by congress. it is the only entity in all of the government that has governmental power and is not paid by congress. congress can't control it. so one of the arguments that mrs. english's lawyers will make is that congress intended this to be. and i'll tell you why. there's two statutes conflictive. the president relies on a 1998 statute that says one is an agency, the president replaces the person temporarily until a nominee is concerned with the senate. there's nor statute, the one that created this dodd-frank, which is 2010, 12 years later, which says when there's a vacancy in the office of director, the acting director. so we have two statutes clashing. what do the courts do when two statutes disagree? they generally accept the more recent one. congress was aware of the statute when it wrote the new one, and it wanted to disregard it for this agency and this agency alone. charles: that's a dangerous path to go down. and starts to supersede when you have the majority house, senate, and the white house. someone argued that this was created in such a way that a republican president could not. >> that is the argument that mrs. english's lawyers will make, and they will make at around probably midnight tonight. it's unfolding as we speak. they will argue that this -- they wouldn't call it rogue as you and i might. a lot of people watching might and as the president has. they will say this is a unique agency intended to be immune from the very political pressure that donald trump is putting on it. the president will say, hey, wait a minute. this is a democracy. how can there be something in the government that nobody can control that fosters and furthers and reincepts itself? that's what the courts are did going to -- it really goes to the hearts of represented government. charles: so this is the ultimate form of obstructionism. you can argue it's a brilliant move on the last administration to obstruct, really, though, in a way they're obstructing the will of the people, though. >> well, -- charles: president trump won this election with an electoral college landslide. >> yes. you could make that argument and what you say is true. the lawyers for mrs. english will say and now you're getting briefs filed by speaker pelosi and former speaker pelosi and minority leader schumer saying this is what the congress intended. charles: let me ask you real quick because carpenter versus the united states is coming up perhaps this week at the supreme court. this is huge, huge news. it's going to be all over the newspapers on wednesday and thursday no matter what the decision is. >> in every -- holding up my iphone. in every cell phone, there's a computer chip. and the computer chip records where the cell phone is. but police downloaded the wireless transmissions of the location of a cell phone without a search warrant, and it showed that a burglar was, in fact, casing a joint that was convicted of robbing because the court admitted that evidence. so the supreme court now has to decide can the police do this without a warrant? if they can do this without a warrant, then nothing is safe. your medical records, your legal records, your banking records, your browsing habits can all be downloaded by the police on a when i am without any suspicion whatsoever. and as we know there are good people in government and there are not so good people. charles: carpenter versus u.s. judge, you bring a great view. thank you. >> pleasure, charles. charles: we have breaking news for you. u.s. defense officials telling fox news that a russian fighter jet buzzed a navy plane this weekend. conducting a routine control in international airspace over the black sea when a russian jet crossed 50 feet in front of it on full afterburner causing violent turbulence. we're going to get the details on that when we get them. meanwhile, denzel washington under fire for comments. hear my take. next. i just finished months of chemo. but i don't want to talk about months. i want to talk about years. treatments have gotten better, so... i'm hoping for good years ahead. that's thanks to research funded by the american cancer society. the same folks giving me free rides to treatment, insurance advice,and a place to stay during chemo. i need that stuff like you don't know. and now that you do, please give at cancer.org >> while pr promoting his latest film, denzel washington of asked. his comments were sliced and diced and spread throughout media, the line that became main focus is, it starts with how you raise your children, if a young man did you not have a father figure, he will have a father figure, i cannot blame the system, it unfortunate we make it easy for them. i took it, you make yourself an easier target. and washington added -- he said we have highest incarceration rate than any place in the world, it is not racially equal, and not social economically equal. and saying that comments made, they had a different headline, said that denzel washington said black communities need strong family units to create change, that did not matter to a lot of folks as avalanche of insults rained down. it is amazing we fought so hard to be judged on our character of individuals there no race in america where every single member must think the same way or face the wrath of fellow brothers and sisters, there must be some understandings of short comings to become better, we demand of this our nation and people that represent us, it not unreasonable to ask a person, with me to discuss, amy holmes, the message board on social media went crazy, calling denzel washington every racial epitaph under the sun, it so sad. you look at words and pain inflicted with them, they have resurfaced, a lot of times it is blacks leveling it at other blacks,s specially the conservatives. >> this is an emotional charged issue, and with united states having a history of slavery, jim crow, racial oppression and discrimination as hands of police officers and criminal justice system, they are thorny issues, but mr. washington of getting at something we know, we have researched thoroughly, children. especially boys from single households have a far higher chance of going to jail than kids in two-parent homes. charles: you are right, proven across color lined. if you graduate and wait until you have children, it is unlikely you will face jail time, why the anger and animosity that he put it out there? is it because it was public consumption or a mind set that when you say things like that, you give fuel, i don't know ammunition to people who may be racist? >> i think that is part of it, which is you know, don't let them have one more thing to use as a club again the black community. but i would say that we need a constructive conversation because we don't want young men going to prison at higher rates than other groups of people because of joyces that ar choigs that are -- because of choices that are made socially, there are reasons for that if we're trying to improve conditions, i think we need to be a little bit more open and critical, and introspect. >> i can tell you, it is -- >> tough going. charles: you know it, i've experienced it. everything that i say about black community is out of love, and hope we get better, speaking of which, lou dobbs the best on business. lou: good evening, breaking tonight, what may b may become a constitutional conover proper leader of president trump appointed mulvan mulvaney to th, and obama left over, deep stater is now suing trump administration seeking to usurp the president's executive power and in effect overturn part of the government of the united states and takeover the consumer financial protect bureau, she is doing it with full support of democratic party leaders and

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