green areas continued today pointing to a higher open. crude, a big green arrow. right now reaching highs at the overnight session of 1.7 or send. inventory report this morning. gold, no-space haven ahead of the feds announcing this this afternoon gold prices falling. time now for maria bartiromo and "mornings with maria" appeared maria: hello, sandra. see you in about an hour. it is wednesday, june 17th. with me jerry baker, wall street editor in chief, dagen mcdowell. first, your top stories. a fox business exclusive i learned that metlife is filing a new lawsuit last night against the financial stability oversight council. challenging its too big to fail status. in short, not like adding to its initial lawsuit first filed in january which said i've sat

acted as judge, jury and executioner in a too big to fail status and offered no avenue for life to obtain a full and fair hearing on the issue. more coming up on the heels of the hank greenberg ruling yesterday. people managing their pension lost profits on hedge funds. one of today's top stories in the turn of shows us the pensions that went with hedge funds likely miss the runoff in the market. in another story from this morning's "wall street journal," "wall street journal," within the company behind the wearable health tracking device had raised its range for the pricing. the prices tonight and it starts trading tomorrow. donald trump is running for president. the real estate mogul says he knows how to create jobs. >> i will be the greatest jobs president that god ever created. maria: donald's son eric joins me to talk about his father's

announced men. janet yellen wrapping things up today. whether the federal reserve will raise interest rates at 2:00 p.m. eastern. it is highly unlikely they will raise rates today. one of the most recognizable teams in baseball embroiled in a hacking scandal. investigating whether cardinals illegally accessed a computer database at the houston astros. they will talk with me about this later in the program. >> this season is now complete. the golden state warriors in the 2015th nba champions. their first title in 40 years. trained to the golden state warriors are the new nba champs beating the cleveland cavaliers last night 105 to 97, taking game six. let's check futures this morning. we're of course waiting on the federal reserve. at this pharmacy gave her broader averages six act in a higher opening for the stock market in the u.s.

german chancellor angela merkel wants an answer to the greeks that problem by tomorrow. markets pricing in on the imf loan. european markets under pressure right now. more on the markets coming. the aig ruling yesterday, metlife continues to challenge it to big to fail status. former cbo director douglas holtz akin works hard on the case. good to see you. thanks for joining us. >> good morning, maria. maria: i looked to the 70 day filing and they have a lot of great they should not be the systemically important financial. do you think of the ruling yesterday that we can be a change here? >> i think after they get designated in december and that life wasn't going to have a chance. they could file the suit that in the end they would end up as

they sifi. if you look to the filing, there's a lot of reasons that might be true. they listed 10 reasons it might be wrong. first of all they don't think they should've been there to begin with. the statute says you have to have 85% of revenues from financial services. they don't have the technical definition. we shouldn't have been in this to begin with. then they say that a someone ignored the process. someone didn't give us the information without we should have. there were 10 foia requests over object to it. if you read through, it reads like something that was that you said judge, jury and executioner. that life has a pretty good case. maria: they say without any reason basis and contrary to historical evidence, someone obtained the utter ineffectiveness of state regulators.

>> i am wondering, this is a big challenge. the financial institutions will be wondering whether or not we will watch the challenge closely and if they themselves because the process is arbitrary whether others might be exempted by fsoc from the sifi designation. do you think that is likely? they are very unhappy and they may challenge it. >> i don't think the bank holding has a great case. other insurers designated. aig. they will look at this closely. for better or worse, the fsoc has done things differently in every case. it doesn't mean the ruling covers over to other designations because processes aren't the same. maria: jury brings up an important point. after speaking with people outside the door has now become

open in terms of further debate. you've got the cause of what happened yesterday or this week with hank greenberg or the judge basically said the government did act illegally and acquiring a majority stake of aig that the conversation has shifted particularly pushing back on the designation. >> is absolutely right, maria. a lot of complaints on the substance. i look at metlife and i don't see the combination of leverage and relied on short-term funding that is the recipe for a problem institution. it is just not fair. that is the substance of the process is just as bad as the analysis of the substance. that gives people a lot of hope. dagen, what is the upside if they can jettison this designation? >> you end up with a higher level by the federal reserve. federal reserve. the entire capital standards, compliance cost, they would love to avoid this. we saw earlier ge capital say we

want out of this sifi designation. we would get rid of the entire business to avoid it. there's a lot of cost that comes with sifi designation. maria: date is such an important point you bring up. it is dictating balance sheets. what you just said about ge. >> this protest particularly to one of the reasons the sifi designation is limiting potential because they have still higher levels of capital which reduces the leverage they can have. they make less money. slightly different for insurers but the same principle applies with levels of regulatory capital and overregulation means it does restrain them for making the money they were making before. this is a case well worth winning because if they win they can end up being much higher earnings.

maria: the next catalyst on this, i know they are waiting for outside commentary to support their argument and then a hearing in the fall. >> my understanding is that i fixed x in 10 days or so for outside groups to file amicus briefs in support of that position. the judge could have a hearing on the the decision comes comes at the end of the year. maria: good to have you on the show today. douglas holtz-eakin and chief jerry baker. let's talk about the hedge fund bad pending patches. jeb is launching his presidential campaign monday in miami and with him were the people who helped him establish his professional and political career. the journal alpine presidential candidates political rise and then firms moving portfolios away from the market to reduce risk of missing out on the rally. the hedge fund bad hate pensions and breaks that down.

the third story is fake big pricing the ipo tonight. we will discuss a $3.7 billion valuation. top stories today. what about the jeb bush story. >> we took a look at the backwardness he launched his campaign on monday. starts out as a favorite for the republican nomination. we looked at his business back around in florida. he moved from texas and he was very successful. he had connections in some part to his father and family. but we track the connections in florida business before he became governor in 1998. he proved himself to be very successful businessman. he benefited from connections but he was quite successful, too. he has a record of being a conservative governor after 1998. he also has a record of having been successful in various business investments.

maria: we looked at the local yesterday. jeb! distancing himself from the bush name. will he be able to distance himself from gw who has been criticized? >> berea, i think it will be hard. you can't run away from the name. people still know what the last name is. it'll be hard to run away from that. the big challenge and where i think it is going to drag him down somewhat is that he is going to be compared with his brother and he will be asked all the time about things his brother dave. some would say his father, too, but more importantly his brother. the iraq dispute came out. what would he have done, but his brother did in iraq in 2003. he will be constantly asked things like that. things like expanding medicare. he will be constantly asked what he thinks about his brother's presidential administration.

they will constantly remind people what positions they took during the administration. some of the polls recently showed president george w. bush has become more popular as time has gone on. i think the issue of the fact he is running to succeed his brother is going to be a factor. >> clinton has the same issue. that is also a dynasty. let's talk about the hedge fund pensions. this is a big story. in terms of betting on putting hedge fund -- pension in a hedge fund is a risky bet in my opinion. >> what we talk about here is corporate pension funds. they have been very challenging the last 10 years low interest rates. many pension funds are not earning enough to meet obligations to the people they pay a pensions do. they diversify investment and then invoking to improve their

returns over the last few years invested in hedge funds whereas you know they take bigger risks and get generally bigger returns. and how things because adequate defense to do well and bonds have done so well over the last few years. hedge funds have underperformed most of the next these in the last few years. the corporate pension funds having gone into hedge fund investments have lost out and put their money to beckley state into a managed fund or something like that. they would have done better. they performed less well than they would have. dagen: can ask a question? in theory, mark can speak to this, for a better risk adjusted return, the roof is when you have a hideous market downturn how they do. so will they stick with these investments and are they getting a decent risk adjusted return for the amount of risk they are taking on? >> the important point is if you

look at hedge funds in the data, they are less risky on every measure of risk. lower volatility, lower downside volatility. maria: the fees are so much higher. >> the best person charges than those. if you care about your return. the problem in this case i believe is the pension funds piled into hedge funds after the down turn. so they did what human beings do really, really well. they bought what they would have out. so now we have the second problem. they will sell what they are about to me. if we are closer to the top and bottom, they want to be more hedged today. >> the point is a good one. the adjusted rate of return is better because they are taking higher risk. if they do pile up the funds now, they are clearly not going to benefit from the advantages if you stay with them. many of them will stay with the

hedge funds as expensive as the fees are. they may well end up doing better because they stayed within the downturn and they will do better as the hedge fund themselves. maria: is it a passive year or active year. i keep hearing an active year, yet the past that keeps on winning. we will be back with more. the fit a story up next when broker chris hill stays ata quinta and fires up free wi-fi, with a network that's now up to 5 times faster than before you know what he can do? let's see if he's ready. he can swim with the sharks! book your next stay at lq.com!

maria: welcome back. ö maria: welcome back. asian shares rebounded overnight. the policy statement later today. chinese state television reporter tracey chang lycoris in beijing. good morning to you, tracey. reporter: good morning to you, maria. asian market showing a mixed picture. the composite swung wildly before climbing 1.7% to finish the trading day. prices rallied after the bank of communications announced the approval of the ownership structure reform plan. hong kong markets recover on bargain hunting with the hang seng adding seven tenths of 1% before the vote on the electoral

reform package. moving to tokyo, japanese shares had a lack luster trading day. investors still waiting to hear from janet yellen on the latest meeting. in south korea, the kospi snapped a three-day street at three tenths of 1% mostly supported. back to you. maria: thank you so much. tracey chang in beijing. fit bit success driven strong demand for shares. one of the top stories in "the wall street journal." douglasfit bit ipo tracking eva. he raised a range of the pricing $17 to $19 this is one of the areas that is really a fire in terms of the marriage of health care and technology. >> they've been incredibly successful. other companies have done similar things. of course the app apple getting them at the apple watch in the ultimate wearable if you like.

fit bit has been a successful company that will cut close to $4 billion valuation for this. everybody expects this to go very well. usually this is the kind of business people want to be in. how can technology. many more people are much more conscious of issues to do with their health and keep track in their held and their movement through the day. maria: we are monitoring our bodies. >> is doing even more interesting things. this really is very much a row sector. i would expect it to do well today. maria: basically changing the way you get blood. and pedophiles and must abide you do one and using that -- >> you can be tested for every name. it has said i've been writing in

california. one of the early investors in alibaba. would you buy a fit bit? >> absolutely. maria: do you own an in the private markets? >> we like the intersection of health care and to knowledge it. i was right with the guys that have an unlimited budget for health. i thought that really make sense because health is wealth. the healthier we are, the better we are long-term. the more we can get feedback can be reactive and proactive. >> driving down health insurance costs. more people monitor their health. the more fit they are, the better the outcomes will be, but also good for insurance companies. transfer at least they have the application i'm like the go pro stick because someone will get beaten with one of them. maria: how do you know fit bit is the name tobias opposed to others?

>> that is the one risk. you are right. there is a risk that apple will take over in a big way going forward. >> apple is doing so many days. apple watchers gotten off to a very good start. i think there may be a challenge for that. maria: major-league baseball rob with hacking claims.

water, some hundreds of gallons of drinking water. officials fear it is only a matter of time before it turns into a ghost town. the obama administration is ordering food companies to face out heart clogging trans fat over the next three years claiming they are a threat to public health. trans fats raise bad cholesterol and the lead to heart disease and strokes with the fda and says the cost of food companies will be 12 to $14 billion or $200,000 per product according to one estimate. it could be the biggest threat to the integrity of baseball since steroids. the fbi and justice department are investigating personnel from the st. louis cardinals for hacking into the computers of the houston astros to sell closely guarded information on scouting and player day. major league baseball says it is cooperating with investigators from the fbi and justice department. this began last year, the scouting the from the astros end

ed up on line, heard the team in the negotiation and the investigation began after that and we are just learning about it. maria: what is going on with the latest in baseball and what is going on with fifa, corruption in soccer, does it tell you anything in terms of the way sports is managed? >> going back to shoeless joe jackson. one of the things that changed the equation is the amount of money. you have a multibillion-dollar business. the sponsor shipwrights, so much money that this is serious business of the opportunity to cheat or bribe or they pay money you shouldn't be paying is there and the reward from it, and the

rewards for cheating or doing what you are doing come so much higher. >> going over to deflategate with the patriots. >> this is a crazy story with jetblue left off of the cardinals and the front office, did scouting and player management over after as, the cardinals were angry and use a similar password he used on the old database so he access the new database so didn't change that. >> how important data has become. it has always been important in sports and baseball in particular. people are trying to hack into other people's assistance and use so much data in the relationship between day and the outcomes in sports is so tight. dagen: both of these are number one in their division as of

midday yesterday. maria: a result of the investigation in the next couple weeks, this has been going on since last year so here we are with another sports scandal to deal with. tune in later on when i speak with former nld commissioner to get his take on this pack in baseball. they are against impossible terms and harsher deadlines, how greece's imminent that problems could soon become your problems. we will get through what is going on in europe and the implications of a greek default. back in a minute. here at the td ameritrade trader group, they work all the time. sup jj? working hard? working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much?

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maria: greece running out of time to strike a deal with european creditors with a deadline looming, greece will likely default on the debt. nicole: this continues to be a story front and center and the

pressure is mounting that greece to make a deal with its creditors. leaders from the struggling nations are set to meet with european finance ministers this thursday, could be a make or break deadline for athens to strike a deal before risking an exit from that euros zone. insurance policies on greek bonds have blown up in the past few months at the risk of a default as that his increased significantly, cost to insure greek-has gone up 456% since the start of 2015. implying there's a 75% probability of greece the faulting on its loans by the end of june. german chancellor angela merkel looks to avoid a greek accent but a wide gap remains in negotiations with the greek prime minister. we are watching all the latest developments throughout the week. and the austrian chancellor, getting some support.

they need to come together and seems everybody wanted to work out. wilbur ross has a big investment in this as well. they have to come to these terms and negotiate and get it right. >> never before have we seen a developed country like greece default. >> i did a presentation on this, the presentation, wrote abyss. the hotel california on gore, you can never leave. they can make noises. jeremy cannot afford to let greece exit. >> generally agree with you. this superstrategy has been to emphasize greece goes for the

euro zone. it doesn't really -- in the scheme of things. you can't let us go, with all the indications for the rest of the euro zone. the germans said no or we won't rescue you or do what you need to do in terms of austerity. home markets are siding with germany rather than greece. spanish and italian bond yields, still yielding very little more than u.s. treasuries of so far the germans are winning that and in the end, it doesn't matter. >> germany wants greece. maria: they also want them to follow the rules. before greece were to leave if

greece were to leave the euro the cyprus government has to be out. he is acting like he has a mandate not to follow rules. the e.u. has been clear about restructuring of the pension system and they want their taxes to go higher. he is pushing back on both of those. >> a politician, he is a politician. >> remains a non event and greece could default as you said. it is of big deal in economic history that is a big deal they could default that means nothing to the markets. it won't affect the way people view the euro or risk assets around the world. it is just greece. >> jack lew noting brought uncertainty for the global economy so that is where it comes from. >> ultimately a big risk. >> in terms of this domino affect, if greece were to get pushed out of the euro the others would say look at greece now. having to drop back to the drop pot they will see it is so isolated and that alone will

stop any domino affect of portugal, spain or france the next. >> greece cheated to get into the euro in the first place, they should never have been in, they cheated on their fiscal numbers, the germans went along with it and so did the french because of a political measure to keep the greeks inside. it was always a mistake. >> got this meeting thursday, to move from your standpoint that you had to allocate capital in the market are you watching this closely in terms of your decision making? >> each deadline has come and gone so this is another deadline that will come and go and the 30th is a big day. >> don't think they're looking to the thursday any more. the 30th. donald trump shake up the race for the republican nomination with an unscripted and prompted nearly hour-long off-the-cuff announcement yesterday on how he plans to win the race for the white house. >> the kind of thing, i would be

great easily. >> using my own money. or donors, i don't care. i am really rich. >> when was the last time anybody saw as being china in a trade deal, they kill us. >> i think china all the time, i am not saying they are stupid. i like china. i sell apartments, isil and apartment for $15 million to somebody from china. am i supposed to dislike them? >> i will be the greatest jobs president that god ever created. >> when do we beat mexico at the border? they are laughing at our stupidity. now they are beating us economically, they are not our friends, believe me. ladies and gentlemen, i am

officially running for president of the united states. bent we are going to make our country great again. >> trump for president. what does everybody think? >> at least from the embraces himself and is not afraid to embrace it. >> i completely agree with that. >> i am really rich and i like trump. the most important, he does have a point. don't worry about raising money and being wealthy donors, to spend his own money there. i am not sure that will work. >> i want him to debate all the candidates just once because doing the hand motions like you are lying, do business with china, do business with china.

>> he will get in the top ten in the polls to getting to the first fox news debate. >> he has been very vocal. the president's birth certificate issues that went on and on, he has a tendency to call women he doesn't like an attractive, he is out there and that will come back to hurt him. >> wall street want to win the presidency? >> so far, jab but i think it will be a tough race. i think hillary has a lot of people that support her particularly on the west coast, but wall street is leaning -- >> i also think it will be comfortable, most people speetwo on wall street say hillary versus jeb, they will take either of those, the current ad ministrations, they think they're basically centrist, they won't-business, won't raise a lot of regulations or taxes.

is going to take a more populist tone. >> just doing that. >> as long as christina is done it is the same thing. happy with one of the new -- >> a lot of good choice is. hillary is backed by wall street people. dagen: the biggest donor has been firm over the last several years. >> a ton of money on speeches and things. >> even if trump does not get into the league of real contenders he is playing a role and that role is to identify some of the things that are important to the right and business. >> from years ago, ross perot roll. >> one good thing about from this he is able to say anything.

controls and even in a republican primary, 15 candidates saying things to focus group tested and he will say what he wants. >> let it be a smack down. we talk exclusively with potential first son eric from later in the program and talk about what the family says about this and get a read on real-estate from eric trump coming the. coming that next, going toto in a screening battle, the details and will continue the conversation on facebook, facebook.com/mornings/maria. tell us what you want to see on the program and click the like button for the latest update on the program, we will be right back on a wednesday morning.

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maria: date 12 and the search continues for skate killers richard mack and david sweat. cheryl: new york state police are planning to expand the search area for richard mack and david as wet. 12 days after those histt and david as wet. 12 days after those his escape from a maximum-security prison, rain is sending police efforts that they believe they are near the prison, no reports of stolen cars in that area. national hurricane center

downgrading tropical storm bill into a tropical depression this morning but not before the storm made landfall in texas bringing heavy rain and widespread flooding to some areas along the coast. the storm packing winds of 40 miles an hour this morning, flash flood warnings, tornado watches in effect until later today for more than a dozen counties in bills have. watch out, ups and fedex, wall street journal reporting amazon is working on a mobile apps that would pay ordinary people to deliver your package is. amazon is looking for ways to save money. last your lunch shipping costs rose 31% year over year and when you are shipping 3 million packages a day the dollars that up. maria: thank you so much. talking about your 10 points, ten stories you identify every morning coming out shortly on line. ashley: in the next half-hour when i finish running it.

some of the stories we talked about, the big business stories of the day. father is a this weekend, an interesting story in a personal journal which is collider section with very interesting stories and interesting research, new research says you should let dads be dads, playful role exactly what kids need. sometimes we try to be too serious and focus harder and doing work but messing around, playing a round is psychologically at an early age what young children need. and interesting piece of research. >> what you are working on is the tv networks. >> frontpage of the wall street journal. taking a matt netflix, a partnership between 21st century fox, nbc, universal and disney.

kobe example was when it went to negotiate the rights for empire it went to netflix, netflix didn't like the fact that fox put the entire season on line at one time and fox went ok, we will go over here to hulu who paid more money, didn't have a problem with it. taking on netflix, cuts and sirius deals, the seinfeld deal was broken in april and got an eye on amazon prime instant video. how do you see this as an investor? you are investing in technology and there's a real revolution going on. >> we love netflix. it has been a great model and a disruptive technology. i think all of these things go to this convergence in the dieppe and making it more available but to me where there

is so much information and so little knowledge and synthesis anything that can get things to us more useful in a timely manner, a good summary is important. >> there are fundamental katie valuations. you were one of the investors in ali baba and you wrote that because that valuation kept going but now when you look at the private market, snap chat at $15 billion, uber, the worries are excessive? >> some are ahead of themselves. i like companies that make money, snap chat worries me a little bit, but uber is a fundamentally shifting technology, disruptive technology and transportation broadly. dagen: to young people snap chat is what twitter should be. >> there monetizing videos for snapped schatz, an amazing network. this is why facebook a huge amount of money and makes no money and net worth of know hundreds of millions of people

who use it. once you get into that network corporate content on there, it is bolden. >> take a photo on snap chat. originally identified the city you were in, now it is mcdonald's. that is how they are monetizing. when the company first said no to a $3 billion takeover offer i thought they were nuts and here we are $15 billion. >> i think they will monetize, like facebook, it fell 50%, people were worried, how to monetize, then they became the kings of modification. >> the point about the netflix and hulu story, it emphasizes the importance of content. netflix is a company that sent people dvds through the mail until they went to this streaming operation but those things that built netflix was when they went to content in particular house of cards. everybody wanted to sign up because they had great content. dagen: i will pay the dollars a

month for hulu or empire. >> that is what it is. content is king. >> a close look at technology and content on fox business. ♪ well this summer, stay with choice hotels twice and get a $50 gift card you can use for just about anything. go you always have a choice. book now at choicehotels.com

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in maria: we expect a higher open for the broader average. futures indicate strings on held gains in europe. big meeting thursday, euros zone finance ministers that big meeting for the market is today's. federal reserve will come out and discuss interest rates and monetary policy and press conference as well. you expect an interest-rate hike? >> no. i am in the camp that wouldn't

raise all year, maybe they could get something in september or december but i came here say nothing of this year. >> you said probably december. >> they want to get out of this box, they are in this box, not limiting their room for maneuver, we have another downturn which we might so we want to make sure the fed gives it more room for maneuver and another couple of months of good jobs numbers like the ones we had where a very good. the july numbers as well and i think you could see the fed move all little bit, not necessarily signaling a steady series of prices that they could move in september. maria: you have to be living under a rocket you don't expect the fed to be moving at some rate. >> long-term interest rates actually backed off on a little bit in recent days in the last week or so. i am watching for a decent potentially in the fed decision but the journal points out three fed decisions were unanimous, maybe not for that the light of

what is coming down the road. sounds like you are cautious on this. >> in the u.s. today we are going to look back three years from now range you will like being hedged. we are in mid 2000's, you had a bubble peak and tech valuations, not until september the market started down. we were up for september and finished down high single digits, the recession starts in 2001, markets down 11% or 12%. in 2002, this will go into a three year period of the economy slowing down, if they do raise rates that will exacerbate the problem and slowdown faster. i am getting more hedged, more selling yet. >> his fund that's did not work out. >> they didn't believe you said earlier they could work out over a longer time frame. looking at interest rates, long-term rates of gone up so the fed could raise rates. the market is anticipating this, the fed could raise rates later

this year without damaging the economic recovery or the market expecting it. maria: we will leave it there. we will see later on the show. thanks for joining us. great to see you as always. we will take a short break. back in a minute with more of "mornings with maria". my shoes? if your bladder is calling the shots ... you may have a medical condition called overactive bladder ... ...or oab you've got to be kidding me. i've had enough! it's time to talk to the doctor. ask your doctor how myrbetriq may help treat... ...oab symptoms of urgency, frequency, and leakage. which may mean fewer trips to the bathroom. myrbetriq (mirabegron) may increase your blood pressure. myrbetriq may increase your chances... ...of not being able to empty your bladder. tell your doctor right away if you have... ...trouble emptying your bladder or have a weak urine stream. myrbetriq may affect... ...or be affected by other medications... ...so tell your doctor about all the medicines you take. before taking myrbetriq, tell your doctor if you have liver or kidney problems. common side effects include

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maria: metlife challenging its too big to fail status, investigating hacking claims inside major league baseball. and donald trump bling republican field for president. >> from the fox business network in new york city year is maria bartiroma. maria: good wednesday morning. i am maria bartiroma, it is june 17th and with me this hour is rudy guiliani, and sandra smith. we will talk to our guests in a moment but first top stories in a fox business exclusive. i have learned met life is

filing a new suit against the financial stability of the site killed challenging its too big to fail status. metlife is adding to its initial losses first filed in january in which it said x box, judge jerry in executioner in determining too big to fail status and after it -- no revenue to obtain a fair and full hearing on the issue. more on this metlife story coming up. people managing your pension likely lost money on hedge fund bets. one of today's top stories in the wall street journal shows as tensions at hedge funds most likely miss the run-up in stocks. and another story from this morning's journal we learn the company behind where rebel tracking device has raised its range for ipo pricing, pricing is tonight, stock trades tomorrow. donald trump running for president, the real estate mogul says he knows how to create jobs. >> i will be the greatest jobs

president that god ever created. i tell you that. maria: donald's son eric joins me in our 8:00 a.m. eastern hour to discuss this announcement. janet yellen and company wrapping things up, federal reserve expected to tell us if it will raise interest rates when the statement is released at 2:15 eastern time. we are not expecting an increase in rates. one of the most successful teams in baseball embroiled in a hacking scandal. and whether the cardinals illegally access the database of the houston astros. baseball commissioner vincent talks to me about it in the program. >> the season is complete. the golden state warriors with 2015 nba champions, their first title in 40 years. maria: the golden state warriors are the new nba champs, the cleveland cavaliers last night 105-97 taking game 6. look at futures this morning, we

expect a higher open for stock prices with money moving into equities. it started in europe where stock gains are there, german chancellor angela merkel wants in answer to the greek debt problem by tomorrow, the pricing in a default by greece on the imf loan which is due at the end of june. more on those stories coming up. our top story out of the hills of the aig ruling where judge be letter shed, the government did act illegally by acquiring aig. metlife continued to challenge its too big to fail status. douglas holtz-eakin worked closely on the case. here is what he said in the last hour. >> the statute says you have that 80% of revenues or assets from financial services, they don't fit the technical definitions of their saying we should not have been in this to begin with, then they ignored the state insurance regulations and on top of that they have due process claim that didn't give the information we thought we

should have, the report requests that were rejected and new evidence at later rounds without knowing about it but if you redo it looks like something, judge, jury and executioner and that life has a good case. maria: you heard yesterday hate to greenberg will appeal the ruling, no damages even though the judge did rule the government was illegally. i'm joined by rudy giuliani and posed sandra smith and i went your take on fist. this metlife story and what happened earlier this week with a ig basically is changing the conversation in board rooms opening the door to debate about whether the pendulum has actually moved too far, the government has overreached. >> two problems the major company has challenging the government. one is if you challenge and win, it takes three years, your evaluation can get killed for the three year period. number 2, if you do it you

better win. up until now there was a feeling you couldn't win so hank sort of broke the mold. this sounds like a pretty good challenge to a board that ignored any form of due process and the courts have the sense the government is overreaching plus the insurance area is an area of heavy state regulation and what is the federal government coming in and regulating of her again? insurance companies traditionally for 200 years are regulated by our state so it will be a good challenge in federal court. maria: great reporting on this. fascinating to learn in these border and then the financial services, as you are reporting there's major push back known and because there is a sense the pendulum has swung too far and these financial institutions are being overregulated where is difficult to turn a profit and do business in america. i would be interested, we talked

about the unintended consequences of dodd-frank, interesting to see who else comes out after the hank greenberg ruling. maria: prudential is sort of wondering whether or not systemically important designation for them as well so you are getting a whole new open debate. >> willingness to go to trial the government has to be more careful bringing the case. if you get this spitzer approach, bring the case known matter what, and to beat him. prickly got into the lazy happen of bringing a case and settle and they settled. all of a sudden brings the case and they challenge and beat you and everybody having been a u.s. attorney i can tell you this for sure, we considered every case a case that would go to trial so before we brought it we were ready to win it.

if you get into that habit of getting too many agreements, you get lazy about it. maria: this segment is dictating balance sheets. cheese selling ge capital. donald trump shaking up the nomination with an unprompted nearly hour-long announcement of how he plans to win the race for the white house. >> when was the last time anybody saw us beating let's say china in a trade deal? they kill us. i beat china all the time. i am not saying they are stupid. i like to remind. isil apartments, isil that apartment for $15 million to somebody from china. am i supposed to dislike from? i will be the greatest jobs president the guy never created. i tell you that.

when do we beat mexico at the border? they're laughing at us to, at our stupidity, now they're beating us economically, they are not our friends believe me. ladies and gentlemen, i am officially running for president of the united states. and we are going to make our country great again. maria: got to love donald trump, a potential first son eric trump coming up in the broadcast. the new york post headline, trump, and i will make the white house mine. what do you think? >> i will tell you my personal conversation with him, stranger

things have happened. this is a strange year with lots of candidates, he rises above the field with bush and maybe marco rubio, not really. donald has more name recognition than marco rubio. who would have predicted barack obama a year-and-a-half before the over hillary clinton? who would have predicted jimmy carter going way back, governor that came out of nowhere, who would have predicted bill clinton? he doesn't have political background. this may be a year with that feeling. he thinks it does and that is why he emphasized politicians get nothing done, and i got a little bit -- the reality is he brings a kind of attention to the republican race that it didn't have before with hillary being sort of the stock power. and give these other people in chance to shine, people who can stand up to him and debate if

one of them gets the nomination, will be a heck of a candidate liz is possible. maria: the media likes to make fun of that. >> the daily news headline is disgusting, did discount a man for president before he has a chance to make his case with every point he made is a serious point. we have visions with mexico, offering solutions, not as if the campaign is relevant to what is going on now. >> donald trump shook things up with that announcement. why -- i can't stop watching it. >> he was reading an entertaining but to your point he presented actionable ideas. the problem, what i'm going to

do, the economy is a mess, i will fix it here is how. that sort of gusto and confidence of lot of people feel we are lacking in our leaders in this country so he may have found a niche. >> he will inject the race with a lot of passion and enthusiasm. and a lot of attention. a lot of people will watch these debates who would not have otherwise watch them because donald trump is going to be there. >> isn't it extraordinary the current administration does not put growth as a priority? if growth were the priority we would seem much different policy, we would seem much different action out of the government. >> bush makes the same point but doesn't make it in flamboyance daniel, aiming for 4% growth. after the recession we had it should be above 5% range, should be the 1% to 2% range constantly worrying about are we growing or falling back? he has pointed that out and some people said he wasn't specific

enough. he was as specific as any candidate and more specific and hillary clinton. >> may be coincidence but when donald announced his run for the presidency did that happen to hit highs of the session. following that. something we noted, not altogether connected but the new market indicator. >> get your take on this. and the federal government sending the atf to work side-by-side with the nypd on troubling gun violence in new york city. ray kelly joined as yesterday blaming rising crime partially on the left wing's and i police rhetoric. >> i think you see a hesitancy on the part of police officers to engage in what i call laura lot of people called proactive policeing. over two decades new york city has been made savor as a result of proactive police, police using their own initiative. all signals that are being given

to police officers don't get involved, don't engage in this type of practice. >> exactly right. anomaly for of new york but other countries. i travel all over the country, i have a close relationship with the police and they come up to me and talked to me every place i am and this is when they tell me, exact what rate kelly said. the rhetoric that has been going on for over a year. police officers have families and children to support. if they make a mistake they know the politicians are going to king from out to dry and that means no income for their families. obviously they will be more cautious, more careful and what that means is i get a call there is a shooting, i can't get right there as fast as the lone ranger or i can wait a little, tinkle longer and just write down what happened and then look, they are human beings, some are super

heroes, some are heroes, some are average and some are regular guys. that is happening right now. and kelly was a terrific police commissioner. mary that we will take a short break. we are back in a minute, stay with us.

maria: the initial public offering tonight, jo lin kent is on the story. >> this is all about the competition, on its way to $3.7 billion valuation after raising its rate to $17 to $19 a share. the wearable devicemaker raise the number of shares to $34 million. this would make it the fifth biggest ipo of the year. going into the pricing tonight, strong numbers in 2013-14, doubled to 11 million and revenue almost tripled. the apple watch with its and tracking technology and ecosystem and as more devices

shifted, a real problem continuing to grow as fast and survive the competition, also facing lawsuits from rival jobless. >> we could see the company raise the pricing again. >> definitely could. we had a whole day ahead of us and that is definitely a the leader in the space right now but also a huge estimates on the apple watch. the main difference i would like to point out is a cheaper product, $250, the apple watch, 350 is the starting price but apple brings their prices down over time to meet with the customer wants. maria: there will be gadgets, over saturated, the market is getting crowded. can't have that many devices. what i like most about this. >> it is a lot to keep track of. what apple is going for, at

least it will do with the things i need to do. >> it also measures your sleep. i could go to sleep and wake up and say i got six hours quality sleep and only one hour not quality sleep. keep the bracelet on, go to sleep and it tells you how many hours you slept that how many is not. that is what i like about it. >> that is all happening, and calories which is so good. >> sleep is important to us. >> will be acquired by insurance companies that log health data or will it be acquired by another tech companies of these are questions we will ask james r.y, the ceo. maria: one thing this opens up a pandora's box. and who owns all the data at the

end of the day? the ceo of under our merced he is making shirts with sensors in there and the shares are measuring, whose date is that? and their armored data. under armor owns the data. >> it should be released with your approval. and governing health care information. >> have you -- a different company has the access. >> just like everything else. and they are selling it. >> for that purpose. almost considering a hospital.

>> the regulations -- >> that is part of technology above the law. maria: thank you so much. we are back with more "mornings with maria". stay with us.

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maria: strong demand following u.s. stockpiles push oil prices higher, crude is up, and that the cme in chicago. >> demand is full word, focus on supply side. they forgot the demand side which has been surging especially if you look at u.s. gasoline demand in the u.s.. we are seeing the tightest supply demand cover in the gasoline market but we have seen in a lot of years.

why is that happening? despite the fact that refiners are refining gasoline at the highest level in almost ten years, we have seen a 10 million barrel drawdown in that inventory and was tropical storm bill slowing operations those supplies will tighten even more so we are seeing a bounce up in gasoline and oil prices are up as well so it will be a big day. looking for a drawdown in crude supplies, once again we could continue higher. maria: we will be watching, thank you so much. six hours until the federal reserve board june statement, feels like we have been talking about a possible june rate increase for months now but it is expected to hold lot in terms of raising rates today and again anything could happen. we will find that at 2:00 p.m. eastern with black rod global chief investment strategist russ hostage joining us, mayor rudy guiliani and sandra smith, thank you for joining us. what do you expect from the fed today? >> we are not expecting much in

terms of rate hikes the we are getting closer and when you think of recent economic data, non-farm payroll, retail sales plan, concerns about soft data are starting to abate and the fed will l.a. the groundwork for a hike sometime this fall. maria: i wonder if today's announcement is more about setting the stage for september. setting the stage for expectations the economy is improving. >> the market pricing september rate hike, and that being said, one rate hike. and the second one before the end of the year. what are markets price, what have they priced in already? >> the market is looking for that call hike. this is a very gradual cycle. and we will not see every

quarter point hike. the market is expecting something more episodic. also a tightening cycle that aims at a lower deck in previous cycles and that is a big difference. >> now is a joy and environment. >> it is ancient history. >> time for a long time. and across the world now. primarily people who never experienced. >> what is interesting, not even on the trade desk but a lot of individual investors, seven eight years, going into bond funds. many of those investors haven't seen tightening, one of the questions in this investors' behavior in the environment starts to shift. >> they make a quarter of a

point raised, up really no real impact. >> it is psychological, quite right from the perspective of the fed a tightening cycle as you point out, going from a very low pace, it goes to the psychological response of investors, the changes we have seen or structural changes over the last five or ten years. maria: liquidity issues are front and center so you are obviously the managing director and global chief investment strategist at black rock, $5 trillion in assets under management. what do you tell investors to do when the fed meets? >> first thing to say as when the fed does start to hike this is not the end of the world. i king at a low level and the reality is there a very few if any instances, bull market ending with the first fed hike. that will be more violent

environment. certainly want to own stocks of bonds. a better value than you had seen in the bond market after five or six years of the marginal buyer being a central bank and driving valuations higher. maria: we will leave it there. thank you so much. complete coverage of the fed decision on the fox business network. all begins at 2:00 p.m. eastern time. we will have the decision and the press conference live when it happens. the 2016 race for president officially receiving its front runner and a potential showstopper. my next guest says watch out for the dark horse. and exclusive next in a minute. when broker chris hill stays at laquinta he fires up the free wifi, with a network that's now up to 5 times faster than before! so he can rapidly prepare his presentation.

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has 12 candidates after adopted donndonald trump jumped in rick santorum. >> great do have you on the program welcome. >> well maria an honor but, introduce youing me as billionaire last dime my wife squarely -- squirrelling money away still brwanna-be. >> you are getting there i'm seeing about that remember ask but 20 sf race who you believe has the goods, to win the general election. >> well, it is extremely exciting to see i say the lows probably 16, some have not announced practice an impressive crowd i would love anyone to be neighbor or family member reliablyio 43 experienced people two hispanics a fellow from indian descent a woman a black diversity democrats fooilg a woman who will be in 70s if

elected basically part of the one percent, so maybe the republicans can throw 1z percent thing at the democrats for all her wealth my favorite is because it is ability to win i think guy the best chance of winning is rick santorum people forget that he won two senatorial races outnumbered by one million more democratic registering voters yet won twice i think because of appeal he gave in introduction speech where he talks about the republicans the speech about job createors to 5% of the population a pitch how democrats and republicans rally behind to help 74% americans who have not graduated from college i think that is probably yes is going to do very well as the primary process starts weeding people out. >> may be in step with what the country needs right now but is he as well-known as some of the others let's take

for example trump that is a household name this moint what is your take on donald trump's entrance yesterday? >> i love donald trump i love his chutzpah char isa the fact that he gets things done i remember, i think he built some builds record time we just put up a school in jackson hole we had company bama construction from grand rapids blult 11200-square foot house i'm sorry a school, in four months he is that kind of of can-do guy i am excited about -- about hes entry. maria: will rick santorum be able to distance himself from the other ideas i mean one criticism that there are too many maybe the beach is deep all of the candidates have something to add to the conversation, but are there too many gop candidates right now. >> heavens no your guest i was hoping he he would toss a big fan. >> lot of people are let me ask him rudy you want to break

news right now come on do it. >> i think the primary process would not -- be terrible generous to a pro-choice pro-gay rights candidate all of them if you notice i think with no exceptions are somewhat more to the right than imp on social issues, national security would i be the. >> have this keeps dogging the gop party, i mean do you think that the republican party has to reassess who they believe america is in terms of -- >> i always thought republican party if it wants to be a majority party we have loss the particular vote four out of last five presidential elections if you want to be a presidential majority party we have to go back to big tent ronald reagan idea new york pennsylvania california, states like that have to come

into play i think it is asocial issues keeping those states out of play -- rudy -- >> i cannot disagree with you more rudy doesn't make any sense at all. maria: why? >> well, because if you look at the science now with the ultrasound machines i think our country is more pro-life than it has ever been i am grateful you point out almost all republicans have the same exact issues, are on social issues as ronald reagan. >> ronald reagan was -- a very much on the same social issues as rick santorum every candidate ring as you point you the out a republican there is no way there is no way someone can win, in at a republican primary by being pro-choice, so you are stuck with the fact that you are gonna have a pro right candidate whether you like it or not, i think. >> i think foster is right realities i am a realist. my view of the republican party is that since it has

emphasized so-called social values, it has manipulatemized as presidential cart maximized as congressal party we have lost it is particular vote have out of last 5 times with pro-life candidate on the ticket,if you go to places like montgomery county pennsylvania -- west chesser county new york used to be big ronald reagan republican council ronald reagan didn't emphasize that position ronald reagan signed first abortion bill as governor of california. what about that. >> i think the -- the more important point is that who is emphasizeing the social issues is it the candidacy i don't know of any candidates, emphasizing social issues the reality is it is a media that is emphasizing social issues what about -- most people have no idea the rick santorum

authored original bill accountability act so far ahead of everybody else in terms of assessing our throat the throat is global jihadist moment of not war on terror. >> is he able to raise money to really go up against folks like hillary clinton. >> let's how much money is required, you all have forgotten. maria: you tell us. >> john mccain you forgot that john mccain shows up in new hampshire carrying his suitcase, let me -- let me agree with foster on think campaigned for rick in several of his campaigns, including the one that he lost the end. -- is an extremely smart very substantive candidate probably the top tir terms of islamic fund list triple even though we disagree on social issues i am a republican because i consider the economic and national security issues much more important, and on those issues rick santorum is a

very, very good candidate. >> especially on his point he makes a comment that the republican parties has honed beautifully, beautifully this message about job creators, speaks to 5% the popping beating the drum for can what about 74% of the americans are fellow manneamericans not gradud from college donald trump apparently said every republican ought to read resigning's book blue collar conservative rick as all three reagan legs on stool we know the same stool as reagan had on social issues points out, but basically very strong on a the biggest threat our country faces, rudy pointed out also he is very strong on economic issues, where people you know, he is a blue collar kind of a guy grandfather, 72 dad ran veterans administration hospital when they asked about

taxes at it kadebate he said i have to go home still working on. >> it would you be counsel with him as running mate who would i like to see his partner on ticket. >> well, everyone of those guys you look eights person by person carley fiorina sharp as i can get, rand paul,just every one of them, i think, you have to admire so that is what i think people are going to gravitate to the republican party, remember we cannot win with the told war horses we did not win with dole didn't win with romney with mccain the democrats didn't win with kerry, who wins the democrats bring these people from out of nowhere carter out of nowhere, clinton from out of nowhere obama comes from beyond nowhere. >> what about hillary, that is he scandal around her impacted

her p polls numbers i think there idea e-mails people getting free telephones and food stamps they have no clue about e-mails, they are going to that democratic vote rb there regardless, but i think, what is going to be appealing is the republican party a message of positive school choice, and health savings accounts, and. maria: jobs. >> yeah well here is another thing rick santorum gaining millage he talks about apparently meet the press he knocked out of the park said why is the democratic party had this antiworker stance, and the fact that the democrats bringing in all these immigrants illegally, undercuts wages of everyday americans here what is resonating i don't know if you realize but when 80, 90,000 kids arrived on the border in in january our government had

a proposal for someone to consort -- accompany children most people don't know that. maria: goods to have you on the show thanks so much. >> i love being here maria i just congratulate you on your career path you are real talent god bless you rudy keep up what you are doing, and love being on the show with you. maria: thank you please come back we hope you come back soon, and god bless you as well, joining us. first deflate gate now tea latest scandal has cheated become rampant in american sports we will talk about it what do you think tell us on facebook go to facebook.com/mornings maria what you would like to see we will do it hit the button get the latest updates, back in a minute. ♪ averages.

>>. . . maria: jufrts in time for vacation airlines he raising farreceptively what else is knew cheryl casone. >> no kidding good morning, airlines are starting off the by these center travel season raising prices 10 dollars per round trip this time it is different, i have the is he everyone raising prices at once, this one starting off solely with jetblue raving prices followed by southwest airlines then everybody else decided to join the party so how can you save as consumer. >> wait until late august to

travel take 25% or travel on tuesday, wednesday, or saturday, good luck flying. the economy is on the rebound, more people having babies, the u.s. birthrate more women is a to 44 picked up one percent between 2013 and 2014. that is the first increase since the start of the great recession, all according to the national center for health statistics. and it could be biggest throat to the integrity of baseball since steroids fbi justice department investigating front office personnel from the st. louis cardinals for hacking into interests of astros to steal information on scouting activity, and player data, maria back to you. maria: what a story cheryl thank you don't forget next hour i will speak with former commissioner faye is veryent his take at any the baseball hack mayor giuliani's take on story you are a huge baseball fan. >> very -- disturbing story if

true. >> given all that happened in baseball the fact baseball starting to reboibd from the steroid thing, to have this -- these are federal crimes, it is if they are true. >> we come right back after the break back in a minute. omer. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep them all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. with at&t get up to $400 dollars in total savings on tools to manage your business. two trains leave st. louis for albuquerque at the same time.. same cargo, same size, same power. which one arrives first? hint: it's not the one on the left. the speedy guy on the right is part of an intelligent system that creates the optimal trip profile for all trains on the line.

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. maria: welcome back, hacking in baseball mayor giuliani biggest stlaet since steroids talk about this portable hacking. >> who would have thought this would have happened looks like a fellow, who set up the system for the cardinals, then went over to the astros, people at the cardinals knew some of his passwords, codes, changing not enough -- and the allegation is that the

cardinals it was shocked me for the car cars nalz could be except for my new york yankees class yvt organization in baseball. >> one more world series next the yankees. >> they have the best like winning percentage yankees won most. >> number one legal. >>f what the true what does it do. >> a challenge for the commissioner following steroids sort of taken them out of steroids things now all of a sudden we are going to have this the question becomes if they did it, if -- under lined who else does it. >> what about sports deflate gate fifa now this, i mean is there something that changed or going a wry or just one-off nothing new. >> maybe going on for years always that alleges about bobby thompson's home run, in the 1951 playoff, that they were a camera sending signals in that you ralph -- was going to throw -- i know if true or not but for years, people have

been stealing signals, i remember the 1986- 7 you super bowl bill parcels took giants to a secret place to train he was afraid denver broken koez wi -- broncos with spying. >> in politics did not come out in the past. >> the only reason that may be won't hurt baseball is because it is a one-off, if they can if that is all it is -- >> don -- sending somebody to stadium sanity crime thisn't a . >> strategic service meerkat for -- tour. dagen: part of each show on the tour starting in late may, they are going to live stream at least part of the concert, via meerkat live video onstage by a fan in the concert venue on a screen, and also over the

meerkat app, has got lots of attention when it launched, itself in march of quickly periscope by twitter came along boom it is not over and out but has to figure out, well its direction, some bands already use meerkat so that you can -- when on tour, like one republic using it rascal flatts i hate rascal flatts as much as i hate baseball -- laufr laufr. >> come on! . >> but i he i can't get on, maybe i am old, but i can't get onboard with some live video streaming apps pr application in mayweather-pacquiao fight, people were live streaming the fight so people didn't have to watch on pay per view. >> questions if that was worth it. >> i know people watched it on periscope -- >> you came back from france. >> yes.

maria: tells us about your trip. >> with the international iranian dissident, resistance group government in exile for iran in existence 30 years. thousands of actually -- there is a book request 100,000 people that have been killed by iranian regime they are far feared was source of information from 03 to 06 that iran was cheating last time we had this kind of agreement with them, they were not going to enrich yuranium like playing poker with guy cheated last time you played it. they had 100,000 people there. maria: you had a bipartisan. >> howard deen and me, ed rendell dhakt national committee mike, john bolton republicans, democrats we believe there is an

alternative to this government and we the united states government should be talking to them. >> thanks so much. >> thank you. >> great insight there theel take a short break a lot to come going to talk with eric trump next hour, stay with us.

. maria: insurance giant metlife challenging its too big to fail status greece central bank warning failure to reach deal could lead the country into uncontrollable crisis donald trump into the republican race for president this is "mornings with maria". . >> announcer: from the fox business headquarters in new york city here is maria bartiromo. maria: good wednesday morning i am maria bartiromo wednesday june 17th with me this hour fox news contributor monica crowley and sandra smith first top stories in fox business exclusive i have learned metlife filing again a new suit against a financial

stability oversight council challenging too big to fail status adding to lawsuit from january saying they acted as judge jury executioner determining a too big to fail status avocado no avenue for metlife to obtain fair and full hearing on the issue we will talk about that former -- director worked on this case what he told me earlier. >> if you read through it reads like something as you said judge jury executioner i think metlife has a pretty good case. maria: people managing pension most likely lowest money on hedge funds betts one top story in the "the wall street journal" today, shows us,ing that pensions that went with hedge funds most likely missed the run-up in the stock market. the company behind wearable health tracking twice raised ipo range for pricing in a pricing happens tonight it will go public form. >> donald trump pulling no punches the real estate mogul says he knows how to create

jobs. >> i will be the greatest jobs president that god every created i tell you. >> eric trump will join me to discuss his father's announcement janet yellen and company wrapping things up the federal reserve expected to tell us whether it wiwill raise rates when statement is released few expect a hike day one of the morecognized daem comroild in a hacking keeped whether cardinals illegally being a accessed the computer base. >> the season is now complete the golden state warriors the 20 is a nba champions, their first title in 40 years. maria: and the golden state warriors the new nba champs

beati beating cavs 105-97 took game six at any markets higher opening for broader averages turning mixed this point and things have come off of their highs of the morning, we are all waiting for the federal reserve and what the fed says about the economy, at 2:00, that is going to set the tone for markets, at this point though early on, we are expecting a mixed opening for the broader averages started in europe we saw gains there as well angela merkel wants an answer to the greek death problem by tomorrow markets pricing into did he fault by greece on imf loan due the end of june more on that, coming up. the pressure is mounting on greece to stick a dreel with creditors leaders from sulling nation to meet with european finance minister tofrm assurance policies the blown up if past knew months the cost has risen 456 pie% since

start of the year a 75% probability of greece defaulting on loans by the end of june with fox news krshth on mr. ka, sandra smith do you think wall street is losing confidence in greece at this point we were talking about this this morning. sandra: the market is also just getting, you know, sort of tired i guess you could say of trying to guess and predict what it means if greek does did he fault i mean up had guest on yaerl said nobody really knows what all this means for global markets, has it priced in a greek default or not, the for one thing for sure when you look at the insurance policies on greek bonds, you know the cost to inspire againensure is sky relocateing there is prediction they are going to day he fault. >> people are thinking it is not that big of a detail. >> that is right i think there is building sense of of fatigue greek debt a growing

sense of let's rip the band-aid off, yes you might see cataclysms, it is expected to he do fault they don't want to go into down the road glands interest from creditors like germany you have to go down this road greece says we don't want to have the pay for all decades of circumstantialism circumstantia i the markets say weigh might have a crisis might have to exit eurozone that is not necessarily in true, but geopolitically when you look at the broader picture, russia is dying for them to exit, because russia wants to save the day and be able to exercise all kinds of leverage over greece. >> there is aub in of predictions in its morning notes i am looking at from desks this morning looking for any news out of the meeting tomorrow, with eurozone sfn ministers one thing the eurozone wants a he reform of the pension system they want

taxes higher like vat tax the greek officials pecuniary back we ranting a realistic program they said. >> that is -- people elected issue about socialist prime minister promised no more austerity that is not how economics works corrode torz saying you have to go down this road or not getting money the tension i think about to explode tomorrow is do-or-die, we saw markets in europe as you can see, the european industries turned lower and that has taken some of the seem to out of the indices in u.s. a mixed showing at best for broader averages to open all about the fed. >> all about the fed, and this u.s. dollar can tie both together the u.s. dollar in face of greek debt uncertainty diagram continued to rise against global occurency.

>> strengths u.s. dollar so many implications dposh obviously imports and exports in the united states business in general, but that greenback continues to strengthen. >> by the way, then federal extraterrestrial and/or being a -- and oracle after the will be. >> fitbit a big initial public offering, joe good morning to you. >> good morning, good to see you fitbit seeing that strong demand headed for 3.7 billion dollars valuation when it goes public, tomorrow, after raising range to 17 to 19 dollars a share, earlier this week, yesterday the device maker raised number of shares selling to 4 and a had a 1/2 million 34 1/2 million going into pricing strong numbers from 2013 to 2014, they doubled the number of devices sold to 11 million and revenue almost tripled, but the he will fabricating he will fabric

tracking technology, facing two louts in rival jawbone over employees intellectual property the company has very famous fans including president obama, he was seen wearing a fitbit that retails for 250 dollars, he was wearing that at a basketball game has worn in white house, so he is tracking his steps in sleep. >> what do i think about fitbit going public if in fact the 3.7 billion dollars valuation is justified. >> i don't know if i want a device telling me i got only 3 hours of valuable sleep. >> sure -- >> definitely a need for this in the market, consumers are more and more health conscious they want no know what is happening with bodies, nutrition great accept i don't know if there is room in the marketing isn't that big thing there is a lot of competitors apple,the apple watch would do so much more, than just what this device does. >> i don't have one yet but i

have seen it, it does so many other things, plus it looks so sleek, and if you are going to wear something, right you want it to look good. >> instead of the big black you know -- >> the apple watch has. >> date of create or. >> totally different price create or frank three fwaul right now fitbit dominates 86% of the market remember laps to blackberry when i went public innovation that followed from pa there is concern there, but the demanded is strong right now, the innovation, is there, and analysts like the management team inside the company so maybe it will do better than breaker's fate has been challenging is in a jawbone as well crowded space there, thank you, tomorrow morning, catch the first subsist with fitbit ceo right here on fox business that happens 10:30 a.m. earn after rings the bell goes public at new york stock exchange. >> are we losing to china donald trump sure thinks so -- >> it is like take new england

patriots to many brady play your louis football team that is the difference between china's leaders and our leaders. they are ripping us. maria: coming up exclusive interview with potential first son eric trump on his father's bid for the white house back in a minute stay with us on mornings.

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story president obama telling fast company magazine he wants to open a pipeline of temporary help from technology companies to modernize the infrastructure stewart varney

here host of varney and company joining us right now your show is top of the hour what do you think about this presiden president obama? >> glad you asked here you have a president who is deeply in trouble with the bureaucracy and computerize operation irs refunds mass chinese hack rollout of obamacare in deep trouble with technology, says hey you in private sector maybe you he could help out come on over. we need some help, but -- if you come on over, you better do this you've got to develop a culture of service. to change people's attitudes about government in other words, come and join is -- >> big -- >> culture service, yes, will they have to join a union? when they become a government bureaucrat punch a clock one minute after 5:00 they deserve overtime conform to bureaucrat

rules. >> give a up paycheck orchestrate work for government fix technology what about updapatriotic innovate achieve greet success. >> what about understanding that government all the time, is very bad for the country, government is always bureaucrinfest am i right or am i right. >> the reminds me when president obama, vice president biden so many others from the left talked about paying higher taxes, they talked about it as duty to pay higher tax the government is all enputting the screws to them doing duty, all of the guys women silicon valley working hard paying taxes, paying taxes, to support all of the left wing programs, like obamacare you mentioned,

right? >> says technical worksers silicon valley can afford it come over o for a couple years. >> remember when president obama said some point he made enough money, maybe that is his attitude about silicon valley, that all of these individuals and companies they have made their money they made enough and now it is time for them to give back. >>, by the way, they probably -- >> -- of course, they do, of course, not -- >> the chair of google did a fine job for president obama, organizing his digital reelection that is politics not bureaucracy of government, that is politics. as a profession game reelection campaign well with that. >> how can they get it so wrong on technology irs web site obamacare web site. >> -- if you are in private enterprise as you know, looking for a profit. individual self-improvement climb that chain in government

the exact opposite. >> healthcare.gov, all the technology everybody to web site, it failed they don't care because it is like it is if that doesn't work spend more make it go to someone else. >> have a green initiative -- spending money on that. >> have part of the problem. >> do you remember if you drive a green bus that is a green job if you are green lobbyist that is a green job. we're going to -- >> they've got wow, taxpay shg, socially here inning into the economic sector it turns out a disaster usually taxpayer ends up footing the billing as always. >> we will like that? you know that. >> as always, stewart catch stau artiso stay artist 9 a.m. see you in who minutes thank you so much

stuart on at 9:00. >> a town on brink of running on empty california drought escalates more on that next back in a minute. .

maria: welcome back, heavy land fall in texas heavy rains possible tornados to parts of the state cheryl casone with top stories. >> good morning bill haslaned national hurricane center downgrading tropical storm bill into a trp depression not before land fall in texas heavy rains widespread sflood to go areas packing winds 40 miles per hour, this morning, former baltimore revenues

chaer leader pleading guilt to raping a boy last summer sentenced august 2 s faces up to 15 years in prison. mountain house california east of san francisco, days away from running out of water after state can you tell off its source the water supply cut off friday phasing city managers to search for a new supplier to make it through end of the year residents hoarding hundreds of gals of water you may say is a,000 who car is about this town there is 10,000 acres of farm landed that part of california the farmers are freaking out. >> more of the story of this incredible squeeze in terms of running out of drinking water. we know that water is -- so precious, so many people around the world have no access to clean water. >> it is i know we take it for granted but in california they

are squeezeed part due to national causes sort of you know they have been through drought many times over many, many decades, part of that is just natural the natural occurrence, but a lot of this is social engineering, and the environment, tover california the squeeze on farmers and other the water resources that this is the logical consequence of what they've done. >> you know what they are doing they are actually fining farmers water supplies if you give someone else water, they are fining you up to 1,000 bucks a day if you divert water to a neighbor trying to heb out. >> a lot of the celebrities who live in southern california beverly hills watering lawns and not paying attention to the restrictions, and now the government is having to step in and fine these people and they are freaking out barbara streisand, wearing her santa barbara property like crazy they came in said now can't be

doing this so she apologized -- individuals -- waters lawn -- i evian i don't know. >> agriculture is a real one, that when you start to talk about our food supply that is -- a serious conversation. >> i like my cheaper strawberries. >> cheryl thank you the donald shook up the president race yesterday up next his son will be telling us how he his father plans to fix america. >> i will be the greatest jobs president that god ever created i tell you that. i will bring back our jobs bring back our money. you probably know xerox

as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. with xerox, you're ready for real business.

>> they're taking money out of our system. they're taking our jobs. they're taking our money.

they're taking our manufacturing. they're manipulating our currency. of course he will say that, melissa. what will he say, we're killing them? we have incompetent people in our country. we have incompetent president. he doesn't know what is happening. we're being ripped off by the chinese. maria: newly declared presidential candidate donald trump doubling dunn on harsh criticism of china and president obama sun willing or unable to counter the communist company. we have fox business exclusive, eric trump, executive vice president of development and acquisitions of the trump organization. your dad was on "fox & friends." good to have you on the show. >> thank you. maria: i want to talk about some of the statements your father said, in terms i will be the best job creator that god has ever seen. i'm really rich. one-liners that now everybody is talking about in the press. how does he get beyond this

perception of, well, he is saying that everybody wants him to say that we all belief but he is not a traditional candidate and he is coming across as sort of very new york or something like that? how does he get beyond that? >> his platform is from nontraditional candidate. traditional candidates put us in the problem we have. we have 18 trillion-dollars worth of debt. we have three or four skyscrapers in new york by comparison. that is astronomical. we have isis. we have failed educational system. we have serious problems. he says i don't want to be a traditional candidate. i took a small company out of brooklyn-queens, took it to multinational company around the world and i want to do the same with the united states. maria: he really did. that is the essence about great things about america. being able to build a company and grow it like your father did. when you look at something like,

for example, the media, "the daily news" today, basically making fun of donald trump for running for president. that is really what i'm getting at. i think what he is saying are all very important issues for voters to be thinking about and yet, you know the media sort of blows it off like with we saw on "the daily news" cover. how do you get away from that. >> they make fun of success which is anti-american. maria: absolutely. >> embraces success. candidates run away from success. he has done amazing job. look at jefferson, amazing presidents, they were suck sellsful guys with great state ture. they became president of the united states. we don't have that anymore. people have been in office their whole lives. they need to be in office. my father doesn't need to be in office. he has amazing life. he has amazing company. he has amazing company. we're growing all over the world. he doesn't need to be in office.

maria: that is very good point. >> he opens "the wall street journal," fox, sees $18 trillion and ceases isis and failing educational system and bad trade deals and nuclear weapons. we're effectively at war on every continent of the world. if you look what is happening with russia and what is happening in the middle east and what is happening in china. it is very sad thing. one thing about my father he is patriot. he loves america more than you can imagine. maria: you make important point in terms of wealth. when we saw mitt romney for example, couple years ago, he tried to stance himself from his wealth. your father is embracing it all-in, yeah, i'm really rich. deal with it. >> sure. he has done a great job. he has built a hell of ap k he has done unbelievable job. he should embrace that. that is part of the american dream. that is what he strives to do. people on this channel they're wanting to make millions, wanting to be successful, want the best for our kids. it is very sad day if the next generation might not live the

same quality of life as a former. we want better for our kids than we want for ourselves. given debt levels and problems around the world, we might not see that for the next generation. maria: very nice when your dad yesterday introduced everybody in the family. the family was sort of offstage. he named everybody there. and you have, seems a very close-knit family. tell us how this decision was made. tell us something we don't know in terms of how the family weighed in in terms of his decision to run for president? >> we are incredibly close. my father is my best friend. my mentor. i sit across daily basis from a boardroom. he is great negotiator. i can see i will build. his frustration with politics build. people say things. they, always talking about these promises. they never actually deliver. one thing i say about my father, see this building buildings all over the world, when he says he will do something he does it. when it was falling apart he

saved for the city. ferry point, great golf course, couldn't be built, he came in, saved it. gets things done. he has inate ability to do that. he cuts red tape. he doesn't think about little minor details. he thinks very, very large about the big picture about getting things done. talks about the infrastructure of this country, right. we're bleeding all this money, but yes yet you've got airports like laguardia tall falling apart. walk through the terminals with acoustical tile ceilings crumbling and bathrooms you don't want to walk into. they're disgusting. i travel overseas for various jobs. you go to dubai, the terminals are marble with chandeliers. that is not how he wants america represented. maria: did anyone push back from the family. you're living in fishbowl. now you're in fishbowl where the media, everybody will scrutinize everything you said. did anybody push back, what about the siblings, say this is

not a good idea. >> truthfully not we think he would be phenomenal. we have inate perspective doing what we do. he is man that raised us. he is amazing. maria: how does the business background translate running free world. >> talk about spending, right? cebridges being built. tent 5, 6, billion dollars on a bridge he could build a for a third of that. bring a level of practicality. when you used to dealing with your own money. you're much more cautious with money. dealing with tons and tons of euros at the end. number you stop caring. when last time anybody talked about national deficit. $18 trillion. doesn't happen. no one even speaks about it. they don't care about balancing budgets. it is absolutely contrary to the normal business world. maria: before you go, eric, tell us your take on real estate right now in new york and across the world. what are you seeing out there? >> listen in new york obviously prices have gone tremendously

high. will be interesting to see what happens with russia. they're delivering less money. oil prices taken a big it h look at china, softer economy. on very high-end you will see a slow down in those 100 million-dollar plus apartments. florida they'ring very well. tax incentive. all of central and south america wants to be in miami. see 300-dollar market in 2009 and 10 is now 1500-dollar market. some markets are doing great and some markets never pulled out of recession. we'll watch your dad's campaign. >> thank you. maria: forget the steroid scandal. cheating in the major league baseball moved from the syringe to the keyboard according to allegations. former commissioner fay vincent will join us next. back in a minute. ♪

you maria: welcome back. major league baseball doing major damage control on word of cheating allegations against one of its most venner rated teams. adam shapiro is live outside mlb headquarters with the latest. adam, good morning to you. >> good morning, maria. what we're talking about here is possibly the first case of corporate espionage involving a major league sports franchise. that is the st. louis cardinals.

according to "the new york times" which broke this story and now confirmed. the fbi is investigating a hack of the houston astros team database which took place in 2013. some. information was posted to the internet. what they discovered the hack originated from a house in which cardinals players had once rented. so that is part of what is going on here. major league baseball issuing a statement which they have said they have been aware of and fully cooperating with the federal investigation into the illegal breach of the astros baseball operations database. what is the key in all of this? general manager of the astros, mr. loon know, appierce he worked for cardinal. create ad database successful for the cardinals. went to the astros in 2011 as general manager. that seems when the problems occurred. might have been some sort of vendetta against him. nobody is saying who might be involved from the cardinals but the fbi is investigating.

maria. maria: thanks very much. adam shapiro. for more on baseball's shocking new scandal i want to bring in former nfl commissioner faye vincent on the fox business wire. thank you so much for calling in. >> thank you for having me. good morning, maria. maria: give me your observation here. >> i think these are allegations are serious. you and i have been around long enough to know we ought to wait and see exactly what the facts are. i have great respect for the cardinals. bill dewitt, who is the principal owner, is a man with long baseball history. my guess is that he had no part of it. think what we've got probably some younger people with bad judgment who think that all is fair in love and war when you and i know some things are illegal. maria: i mean the st. louis cardinals. one of the most successful teams in baseball over what, two decades. this is really hard for the fans to swallow. >> yeah, i don't think the fans should get terribly upset. i think baseball will handle it with the fbi.

my guess it will blow over very quickly of. the cardinals are very well-run, they're popular. they're successful. i think this is behavior at a level where some young people, my guess is very young people, exercised very bad judgment. maria: what should, what should the current commissioner be doing now in light of all this. >> i think he is doing the right thing. it is not his place to investigate. let the fbi do it. when the fbi is close to finishing they will call him. they will give him a briefing and, you know i hope he puts down some very harsh punishment. i think this is, as one of your people said a first. i think the commissioner will come down very hard on the miscreants. you have to teach some of these people when they make a mistake they pay a very heavy price. maria: what would be the punishment to fit the crime here? are you talking about taking guys out? >> i think you would have to look at the facts and how much people knew and what advice they had. you know, i think that's a case

where you want to wait and see what the real details are of who did what but i think the punishment ought to fit what happened. these are serious acts of bad judgment and probably illegality. maria: we know that the competition is fierce in baseball and throughout sports but can you give us a sense how things changed over the years? basically if you see more fierce and competitive, even hostile sort of mentality than ever before to sort of lead to something like this? >> well, i -- put your finger on it. seems to me what is going on here there is an awful lot of money at stake. when i left baseball in '92 or three, baseball was, now more than a $12 billion business. there is awful lot of money sloshing around. people are competitive, aggressive. they want bonuses. they want to be successful. they want to be a hero and they

cross lines they shouldn't cross. i think money is the root of this. it is everywhere. and it seems to me baseball has to get things in perspective. maria: all at a time that actually baseball has been left behind in terms of advancing. this is the one sport that you've got an older demographic. not as much technology usage as others like, you know, the nfl or you know, hockey. so what is baseball need to do in addition to if, in fact these allegations are true, clean up its act in terms of getting baseball to the next step in that money game, in terms of getting viewers in their seats at the stadium. >> well i think they are related. i think baseball has to stand for things. one of the great things about baseball history it always had a sense of its own integrity. it cared how baseball presented itself. it has been the national pastime. it seems to me that baseball has

to gets it values in line with some of the current activities, the computers at the heart of the new baseball. baseball is making a fortune off mlb.com and other things like that. and here you have technology that can be used in a way that's competitively corrosive. so baseball will have to stand for its principles. when it does that it always gets fans to agree with it. the fact that baseball is so revered is a consequence of baseball having done a lost right things. and, it goes back to baseball's stance on gambling, baseball's stance on steroids. a variety of things where baseball may have wandered around but they eventually get it. i think they will get it right this time. maria: i'm with colleagues on set, sandra smith, monica crowley. i know you're a chicago die-hard. do you think something like this will turn off fans? >>depends on how hard mlb comes

down on them. in the case of the nfl, i think the general public saw that the nfl was reluctant to come down hard on first engaging in activity that was frowned upon. i think same thing goes here. how hard could mmlb come down on these guys if this comes to prue wigs if it comes true? >> they could put them out of baseball for life and make it stick. one of the things like baseball, gambling deterrent. when we got pete rose out of baseball and said it was for life we mean it. that is strong deterrent. you don't see gambling in baseball. everybody knows if you touch the third rail you're gone. steroids is a case where baseball stumbled around. when it eventually got the steroid issue. a-rod was out for a year because of misbehavior. there are consequences to misbehavior.

maria: before i let you go have to ask one thing. go ahead, monica. >> that is great point fey raised. we live in culture where we win at any cost. tom brady, debate gate. couple years before they were caught cheating against the new york jets. there have to be consequences. win at any cost culture if there aren't consequences or potentially illegal behavior it will continue. maria: that is what you're saying faye. get your thoughts. on all kansas city royals all-star team. think it is fun and kind of silly in a way because the all-star game is now important. gives home field advantage in the world series. when you let the fans control it, i mean, to vote 35 times, why is that? why is it 35 and not 38. why is it 35 and not 30. the whole thing seems a little bit -- because it does determine the world series advantage. maria: so, who picks the number?

why the different number. >> i have no idea. that is part of the problem. the number doesn't make any sense. my own, my own view, they ought to let managers, people in baseball who know who is doing well, pick the players. let the fans have a minor role but if you're going to have it be an important game, as it is, you have to let it be determined who is doing the best job on the field. the players and the managers know that. and the fans get confused. maria: how much is this issue creating noise around the players ability to do what you're saying and just play a good game, do the job? >> the players, they go out and they play because it is their lifetime and it is their livelihood and their records are important to their income. but the fans voting 35 times for a kansas city catcher, even though he is a great catcher, distort this whole process. seems to me it is very confusing

to the public. why can you vote 35 times? doesn't make sense. maria: yep. good to have you on the show. fay, thank you very much for weighing in. >> thanks for having me. maria: former commissioner fay vincent there. want to look for extra cash? amazon may have you deliver their packages for pay. we'll tell you what amazon is doing next on "mornings with maria." ♪ here at td ameritrade, they love innovating.

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maria: welcome back. in its seesless effort to speed its delivery service amazon now turning to the american public for help. dagen mcdowell on this one. good story. >> good news here, human beings before drones apparently. maria: that is good news. amazon in the

"wall street journal" says it developing a app to pay regular folks like-ups or fedex to deliver packages to other destinations. service is called on my way. they would pay brick-and-mortar retailers to store the packages. amazon shipping costs last year up 31%. that is faster than revenue growth. tough talk about the reliability of it. people are used to getting things on time, like amazon has all these delivery options now. one-hour delivery. they use bike mentioners in some cities for that. using delivery firms for groceries. they have lockers in parking garages and 7-eleven for package drop off and pickup. i have used, we can talk about this i have used instacart which is a delivery service. i absolutely hate it. they have never gotten anything -- maria: i love it. >> crowd sources. maria: anything i can get dropped off at my doorstep. got off maternity leave, got my

groceries. instacart. it is app and shows up at my door. >> regular people basically shopping, going and doing your shopping for you. maria: how do you know your packages will not be pest messed with? if somebody else is delivering my package how do i know -- >> you have to have a little faith, maria. >> trying to use the uber model to deliver packages there are a couple of big concerns apart from economics. maria: uber is doing it. >> customer privacy. >> getting in a car with total stranger. maria: uber wants to deliver stuff too. >> here is me. i'm standing on the curb. i'm not walking that extra 100 feet. i'm chucking package right to your door. maria: that's hilarious. doesn't sound like you will be going to offer your services? >> no, you do not want me delivering anything for you. maria: i would like dagen to be delivering. who would not want to see dagen at your doorstep. there is your package, bud. >> you're hilarious.

maria: 30 minutes from the open. we'll look at futures right now. show you what the market will do at opening of trading. we're expecting a higher opening for the broader averages. europe turned lower. u.s. is strong. waiting on the fed at 2:00. back in a minute. [dad]i wear a dozen different hats

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[passenger] i work for me. and so does quickbooks. it estimates my taxes,so i know how much stays in my pocket. and that's how i own it. [announcer]stay in the flow with quickbooks self-employed. start your free,thirty-day trial today at join-self-employed-dot-com. ♪ maria: welcome back. we're 30 minutes away from the opening bell. monica, you're keeping close eye on hillary clinton. >> yes. every day there is a new clinton scandal with regard to clinton cash. both bill and hillary hillary clinton ton have spoken at major non-profit organizations like boys & girls club, one particularly in california. traditionally you take the fee and dedicated fee back to the charity so you're not taking money. maria: sure. >> in hillary's case she took $200,000 from the boys & girls club of long beach, california.

did not return money. took the money. not that, didn't spend anytime with the disadvantaged kids. gave her speech, took the money and left. maria: condi rice spoke to the group. >> she did. charged $60,000 for the speech. returned money back to the charity around spent a good deal of times with the kids. bill clinton has taken money for himself, not just the foundation. gone to speak to charities -- he has taken the money for himself. >> he has got to pay the bills, monica, apparently. >> there is always money to be made. this gets to their political character and their personal character. i think pretty much every week going into this election they will have to answer questions like this. maria: she is not answering any questions. she will stick to the issues. >> well the issues are, are you greedy and you're taking money from disadvantaged children for your own self. maria: we'll watch that one. great talking to you girls today. >> thank you so much. >> we'll see you tomorrow, sandra, on "fbn:am" and once again on this program. come back soon.

monica crowley. stuart varney is next. we're expecting higher open for the averages today. we're all awaiting on if he ral preserve. we'll get press conference at 2:00 and answers at 2:30. stuart, over to you. have a fantastic show. stuart: i will take it, maria. love him or hate him, america is paying attention to the donald trump. the left calls him a clown, a buffoon. the right worries about what he is going to say next. either way, politics is suddenly very interesting, isn't it? there is an ill-disguised cry for help from president obama. wants to draft silicon valley techies to fix the government's computer mess. private sector computer guys toiling away in a government bureaucracy. that is culture clash. there is new cheating scandal in baseball. no, it is not hacking.