Subprime mortgage crisis again, and how would they force a bank to give a riskier borrower larry thats right. Youre exactly right. Theyre so stupid, theyre repeating the same mistakes. Elizabeth youre the best, larry kudlow. Were going to the take you through everything a that larry just talked about and what the media is not covering about hunter biden in court today and what theyre not covering about President Biden. But first this this is now hitting the white house. Third bank failure in just two months, were talking First Republic. Three of the four biggest failures in u. S. History happening since march, and where will the next shoe drop . Kelly to grady live in los angeles with the story. Kelly. Reporter its great to see you, liz. And, you know, with First Republic teetering on the brink for a couple of weeks now, remember at its last Earnings Call it announced it had lost over 40 to of deposits since that collapse of Silicon Valley bank and signature, that equated to over 100 billion, so in this morning. Are the big banks just getting bigger. For context, Jpmorgan Chase are taking over the majority of First Republics assets, all of their deposits both insured and uninsured, making a 10. 6 billion payment to the fdic. The banks, they woke up, customers were able to go, nothing really changes. But the president today made remarks, wanted to make sure everyone knew he felt that the Banking System is secure. Take a listen. Regulators have taken action to facilitate sale of First Republic bank to insure that all depositors are protected and the taxpayers are not on the hook. These actions are going to the make sure that the Banking System is safe and sound. Reporter now, if to you remember though, this isnt the first rescue attempt for First Republic. There was a group of banks back in martha funneled 30 billion in deposits amidst that crisis. Jpmorgan will have to repay all those deposits back to those banks under this takeover agreement. Now, this takeover by a big bank, it is the better than what happened with Silicon Valley bank, certainly less expensive for the government, but it does beg the question how the Federal Reserve react now that weve seen something else. Liz, a lot of folks are asking, or well, where were the regulators in all of this, and its timely. Svb and signature, the Federal Reserve just came out with a report last week saying they themselves were asleep at the wheel, and they were not looking into things enough. So certainly a lot of questions being asked around that with First Republic going down today. Elizabeth kelly ogrady, thank you so much. Lets welcome back to the show from house energy and commerce, congresswoman kat cammack, author of the upcoming book, you will own nothing, out july 18th. Preorders are open everywhere. Of carol roth is with us. Congresswoman, the white house is adding so much uncertainty to this economy. Is anyone many in keyes talking about more bank in d. C. Talking about more Bank Failures . Because fed is going to the raise Interest Rates this week for the tenth straight week to battle record inflation under biden. [laughter] well, good to see you, liz. I feel so much better now having heard that clip of President Biden, dont you . [laughter] i just, i dont know if theres enough sarcasm that i can muster for that statement. But this is business as usual. This is predictable. Not only are we seeing another rate increase, but then the announcement from the Biden Administration that people with good credit who have made tough choices and sacrificed and done everything right will now be subsidizing those who have not on their loans. So i feel like im having a bit of deja vu here. Youve got people who are getting into high interest loans who cannot afford them, who are being subsidized, and it doesnt seem like its going to play out very well. The Biden Economic plan is to basically trap people into these big programs that they cannot afford, and i think we see how this ends. Weve seen this production before. We have taken a nation of equal opportunity and turned it into with equal outcome, and were tuck paying the bill. Elizabeth so what the congresswoman just said, carol. The media has been saying, well, under the trump white house, Congress Weakened the oversight rules. Carol, you remember that debate. It was not about not doing a cookie cutter approach, having smaller regional banks answer to what the higher, bigger banks had in terms of oversight. It doesnt absolve federal regulators and the principal reserve from backing a off Federal Reserve from backing off of oversight. They still have to do their jobs, carol. Yeah. And i think that theres a lot of deflection because i dont think this was so much about inaction around the fed. I mean, if you think about it in the case of Silicon Valley bank, their ceo sat on the San Francisco fed. If you think about signature bank, barney frank was the granddaddy of all of the regulation and was sitting on the board. This is the not about regulatory inaction, it is about fed Monetary Policy action. And this is just deflection so that we dont talk about the fact that they are arsonists. Theyre ones that put too much money in the system for way too long. They held out Interest Rates for the greater part of 15 years, and then they changed on a dime and got everybody coming and going. When are we going to hold them accountable for being the great transferrer of wealth from main street to wall street . When are we going to stand up and recognize that theyre the ones that are burning down the houses here and take away their powers . Elizabeth yeah. So what carol just said. Congresswoman, record inflation. U. S. Energy independence getting ruined. All that is called progress in this upside down world. Dis, you know, weve got nbc, cbs polls, democrats are saying president should not run again because of his age. Were going to talk now about this, the media wont coffer this. Watch the striking difference between thensenator biden, watch him talking about gop, what the gop is now talking about in terms of policy and then watch President Biden now. Watch this. I introduced a concept of work fare in 1986. I remember being pily lied by my pilaried by my colleagues on the democratic side for suggesting mandatory work requirement for anyone receiving welfare. Put them to work and make them want to go to work and make it reasonable. When i argued that we should freeze federal spending, i meant Social Security as well. [inaudible conversations] [inaudible] my first two years we cut the deficit 1. 7 billion trillion, trillion. [applause] trillion dollars. Not billion, trillion dollars. Inless than in less than two years. Your mark is going to be the blue one to the left. How yall doing . You got a blue mark. Thats okay. Ill stay on my blue mark. In a lot of ways, this dinner sums up my first two years in office. Ill talk for 10 minutes, take 0 questions and cheerfully walk away. Elizabeth so thats the strategy, congresswomansome. Man, that just breaks my heart for our country. It used to be we could chuckle and laugh a little bit, but thats devastating its the unbelievable that you have a president today whos refusing to negotiate for the sake of our country. And hes going to have to explain to the American People why all the things he said for the last 40 years no longer hold true. Hes going of some explaining to do when the u. S. Defaults. Elizabeth yeah. The news coming in the treasury secretary, carol, said that could happen, the u. S. Could run out of money june 1st. Theyre risking that. But this president still refuses to negotiate. Your final word. Yeah, and that we are seeing in those clips that you played a degradation of policy, were seeing a degradation in the person and, unfortunately, we have fiscal runaway train. We need to stop it before it completely derails. Elizabeth got it. Thanks for joining us. Okay, hunter biden in court in arkansas today in that paternity lawsuit. The mother of hunters child which the president wont acknowledge or has not acknowledged alleging that he is refusing to turn over financial records. Fox news david spunt live at the courthouse in batesville, arkansas, just north of little rock. David. Reporter yeah, hi, liz. Hunter biden here for if about two hours. This was a hearing about Child Support payments, but were learning a little bit more about his finances in the sense that his attorney the, abby lowell, told the court today in public that hunter biden is paying london roberts, the mother of their 4yearold daughter, 20,000 a month. Though hes not involved physically in her life. We do have video of hunter biden leaving the courthouse late this morning after spending about two hours inside. Court fight between biden and london roberts has spanned several years. She says shes not holding up to his end of the bargain. The two have that 4yearold daughter together, but as i said, hes not involved. Today we also learned that that her attorneys want more information about his art value. We know that he paints, but they want an actual price tag on those. They want to find this out before the next hearing many just a few weeks. His salary, his employment if from the past five years, also his documents related to a business with a chinese firm. His finances also a primary focus of the federal investigation back in washington, in delaware, that has really ebb gulfed him for the engulfed him for the past five years. Hunters were at Justice Department headquarters last wednesday in washington, liz, to get a status update. That closed door ooh meeting was requested by his attorneys several weeks ago, could signal possible plea negotiations, a possible charges or president ial arely hunter biden may not face anything at all. Something else we learned is that london roberts did testify, liz, before a delaware grand jury early last year linking a local case here in arkansas to the federal probe against hunter biden. Liz . Elizabeth david, that is, that part is also big news. Thank you, david spunt, great reporting. New york columnist jon levine. You heard all of this this, right . Its striking that the president refuses to acknowledge his granddaughter, its striking that hunter biden was forced to the acknowledge the his daughter after a dna test. So london roberts testifies to the doj, david weiss and that case. Theres four alleged charges against hunter including tax evasion. The judge orders him to testify under oath about his financials. So lawyer for london roberts, jon, they want his salary information, how much money he made in the last five years, how much money he got paid in foreign deals including his business with chinese firm cesc. What do you think, jon . Its very significant. History may show that london roberts attorneys are more successful at getting more information than the justice county. We havent seen so many developments there. My big takeaway is this is such a sad story. Over the years weve seen that there was never an oligarch, a foreign oligarch or a Business Partner that couldnt have a meeting with hunter biden or joe biden whether it be in the white house, on the golf course, fancy restaurants in d. C. , and here is joe bidens grandchild, 4 years old, and he wont acknowledge her. Hunter biden has no role in her life, and shes not a rich person, shes not a powerful person. Shes just someone whos trying to make sure that her child is provided for, and hes doing everything he can to not do that. Elizabeth this is really striking that the first family is now involved in basically having first son, hunter biden, being accused of being a deadbeat dad. His laptop is coming into play. This is whats key, the immediate medias not reporting this. Hunter biden emails on the laptop show he he reached out to high ranking obama officials like Antony Blinken. Antony blinken was in the obama state department. He was then deputy secretary of state. Jon, question is what was hunter talking to Antony Blinken about hen . Were they talking about the foreign lobbying law that the biden team and obama used to go after trumps team like general Michael Flynn . They used offbalance sheet Shell Companies reportedly to hide and bury the money flows from their overseas deals in china and russia to avoid registering as porn agents. What was he as Foreign Agents. What was he abe with Antony Blinken . Thats a very good question. We do know increasingly the hunter biden scandal doesnt involve just joe biden anymore. Antony blinken was the person who instigated the letter from the former Intelligence Agency officials, that infamous letter from 51 former intelligence chiefs saying the hard drive is misinformation, its russian, its b. S. , dont believe it, and that came from Antony Blinken. The real question i want to the ask him if hes ever under oath is who asked you to reach out to those officials . Elizabeth right. But bury the laptop that has the information about Antony Blinken talking to hunter biden. Was hunter biden talking about how the biden family wanted to make money in overseas deals with our adversaries in china and russia . Was Antony Blinken talking to hunter biden about fara, the foreign lobbying laws . Registering as a foreign lobbyist or Foreign Agent would have put a spotlight on how the widen family was biden family was making money, cashing in on then the Vice President s government job. Right. Youre not allowed to act on behalf of foreign governments unless you register, and people go to jail for many, many years for acting on behalf of foreign governments and not registering. So if hunter was doing in this, and theres a tremendous amount of evidence that he was, it raises very serious elizabeth and james biden and the other brother. You know, so lets stay on this for just one more second. So thenvice President Biden knew what their a family was doing all along. Thats what reports are indicating, a that he did the know about Hunter Bidens business deals. But then hes getting the Obama White House to go after trumps team for foreign lobbying violations. And threatening them with jail. This is a bullying of the biden team repeatedly bullying the media, telling them not to cover stories like this including the New York Post, you know . Bullying people with lawsuits, taking people to court in counts around the nation. Courts around the nation. This is the strategy of this this biden team and the Obama White House. Right. I mean, accuse your enemy of what you yourself are guilty of. What i am struck by is the combativeness and aggressiveness of Hunter Bidens legal team because there was this case was reopened when hunter asked to renegotiate what he was paying london roberts. If he had just kept his original payments, that wouldnt have occurred. And theres such a tremendous potential for discovery and new information to come out right in the middle of the 2024 president ial campaign which i know no one on joe bidens team is eager to see. Elizabeth e elizabeth this is a rolling Dumpster Fire inside a train wreck. Jon levine, thanks for joining us. We warned you this was coming, california just outlawed diesel trucks to force everyone to go electric. Is this Biden White House now going to slam the supply chain . Will voters also see through this, will the media a fall for this . This is bidens 2024 strategy, 30hour workweeks, no rallies, 40 no pressers, but try to blame maga for everything as he changes the u. S. Economy with the stroke of a pen. And now 27 the states are revolting against bidens disastrous mortgage rule portioning good credit borrowers to pay more to to subsidize riskier borrows. Are they trying to bring back the 2008 crisis . Plus, we have the wall street journal reporters taking us behind their bombshell report that bidens cia chief and Obamas White House counsel met with sex offender Jeffrey Epstein after epstein was convicted of sex crimes with minors. Where are the next shoes to drop here . Thats coming up on the evening edit. Allergies dont have to be scary. screaming defeat allergy headaches fast with new flonase headache and allergy relief two pills relieve allergy headache pain . And the congestion that causes it flonase headache and allergy relief. Psst psst all good hey, man. You could save hundreds for safe driving with liberty mutual. They customize your car insurance. So you only pay for what you need whoo we gotta go again. Only pay for what you need. Liberty. Liberty. Liberty. 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