tv The Intelligence Report With Trish Regan FOX Business October 8, 2015 2:00pm-3:01pm EDT
wall street is thinking this presumably gets worked out. unless we get real close to some crunch deadlines and it has not. trish regan after this. >> neil cavuto, thank you so much. lawmakers everyone, reportedly in state of shock as kevin mccarthy withdraws his name for speaker of the house. hello, everyone, i'm trish regan. this is "the intelligence report kevin mccarthy abs brutally withdraws from the job of speaker of the house. here is kevin mccarthy moments ago. >> i will stay on as majority leader. but one thing i found talking to everybody, if we're going to unite and be strong, we need a new face to help do that. >> the election for speaker of the house is being postponed. it is down to two. dan webster from florida, and jason chaffetz from utah, who just got into the running this past sunday. here is chaffetz addressing the
press moments ago, saying mccarthy's move is the right one. >> i think we have internal fracturing that has happened. we need to figure out a way to unite the party. that is what kevin mccarthy want to do. that is what i want to do. i think that is what john boehner wants to do. >> it is a dramatic day in washington and dramatic day for future of the republican party. drama began unfolding at three a.m., the three candidates. jason chaffetz, kevin mccarthy, picked themselves as speaker. sealed to be all systems go for kevin mccarthy. front page of newspapers predicted he would be house speaker and telling sources around him he would get the job. by 12 noon. official enclave of gop voters met and who they want. kevin mccarthy dropping out. saying he was not the guy. did he have the votes? is he too closely aligned with john boehner. who will get the job when
boehner leaves at end of the month. we have blake burman, d.c., steve moore. and republican strategist ford o'connell. blake, starting with you, what are lawmakers there in d.c. telling you about today's events? >> a lot of them are stunned, trish. nobody saw this coming. at noon there was supposed to be a meeting all 247 republican lawmakers got into the room. pretty much like an episode of "survivor," write down on sheet of paper who they want as next speaker. the question going forward. it was believed going into all of this, would kevin mccarthy get to 218. that is the magic number to become the next speaker nominee on republican side. it is believed he had it hundred or so because of house freedom
caucus, same group that pave john boehner his trouble, came out yesterday, 30 or 40 of them would vote in block for daniel webster. jason chaffetz, oversight committee launched his bid, when kevin mccarthy made the slip, gaffe, however you want to describe it about the benghazi committee. 2:30, the word comes out, he stood up at the meeting says i'm not the guy. shortly afterwards mccarthy took to the microphone. we need to unite. we don't need to get to 218. we need to get to 247. trish: i amazing how this came about. ford o'connell. what happened here. >> kevin mccarthy seemed to be pretty confident walking into the room. i do think the benghazi gaffe played a role. there might be something else. i wasn't a fly on the wall in that room. but i have to believe there had to be something more than just benghazi gaffe. he seemed pretty confident on
way in the door. trish: seemed pretty confident on the way in. it must have been, let's talk about the future of the republican party. steve moore, you've seen this splintering happening now for several years. you've got the tea party, sort of extreme right of the party that has had enough. folks like boehner and mccarthy as well who were trying to play ball. does this really bring it all to a head? can we not really have, we need somebody who can unite these two teams? >> this is kind of, flames of unrest are a result of the trump phenomenon, trish. that people feel like republicans in congress weren't doing things they were elected for. there is no question about it. the 40 freedom, house freedom members are the ones who brought down kevin mccarthy. not voting for him. just math. they couldn't get to 212 without them. the question who is uniter? who is the person to unite the conference? paul ryan would be natural person.
i just had dinner mopped night and said then and today i don't want the job. i'm not so sure. trish: why do you think that is? it is a tough job to have, let's face it, given circumstances. >> he wants to be guy reforms entitlements and reforms the tax system, he thinks he can do that from the ways and means committee. i don't think it will be chaffetz or webster. trish: really. >> i think it will be someone else. trish: i want to hear them. >> jeb hensarling. jim jordan who runs the freedom caucus but well-liked by everyone is possibility as well. >> let me say one thing, trish. i do agree with stephen moore. will be completely fresh face. it will not be chaffetz or webster. there is a lot of folks out there. we just don't know. it will be a fresh face. question who can get to it 18. >> one thing about this. i lived through this before. denny hastert came out of nowhere. he became a consensus choice after newt had to leave.
could be that kind of situation, someone we're not even thinking about. >> the freedom caucus did not bring mccarthy down. mccarthy brought mccarthy down. it was worse than a gaffe. it was a blunder. that committee is about leaving dead ambassador on battlefield. it is not politics that disqualified him. to steve's point about a fresh face, taylor griffin, running for congress, former white house insider, knows capitol hill. he is talking to people out there, he says speaker of the house does not have to be member of the house. you could be speaker of the house. insiders talking about mitt romney as possible speaker. >> anything could happen. trish: i want to get back why this happened in the first place. we saw a shift. we saw a turn, really start to take place after those comments that mccarthy made to our very own sean hannity. let's role tape on that one. i want to get everybody's reaction. >> everybody thought hillary
clinton was unbeatable, right? but we put together a benghazi special committee, a select committee. what are her numbers today? her numbers are dropping. why? because she is untrustable. trish: we also had mccarthy being asked about those comments by a reporter today saying, is this what caused you to withdraw your candidacy? listen to his response. >> well that wasn't helpful. yeah, i mean i, i could have said it much better. trish: yeah. denise, let me go over to you, do you think this is the nail in the coffin so to speak, coming out saying something like that. trying to suggest that republicans were doing the benghazi committee, putting it together for political reasons as opposed to real reasons is what cost him? >> actually, i'm trying to focus looking forward and looking at the issue of governance. who do we have to govern this country right now in congress
because quite frankly -- trish: but, yeah, yeah. did this hurt them. >> let me finish. trish: i asked awe simple question. i asked you to come on, we're doing autopsy why this happened. i'm asking do you think this affected him? >> of course. he himself admits that. it did affect him. this could be death by a million paper cuts, 100 paper cuts for all i know. i was not, like ford said, we were not in the room, yes there is real crisis of confidence we will lead. the point i was trying to make earlier, we are running out of tile. that deadline, for example, that we have november 5th, will affect the full, faith and credit of the night because we have problem with the debt borrowing. so i am a little concerned, if we have, i hope gop gets organized fast enough to get a leader to bring them together because right now it seems like herding cats. trish: news crossing, john boehner announced, blake berman is still with us.
john boehner will not appear, tonight, breakings on "the tonight show." perhaps he might have got asked too many tough questions about all of this. saw a statement from him earlier, but didn't give us much in the way of clues that will happen next. >> maybe he has an extra glass of wine, trish, saying i will not do this anymore. he released a statement a little while ago, john boehner. i won't read it. it essentially said he is going to stay on through the transition period. here you go. i will read part of it. i will serve as speaker until the house votes to elect a new speaker. we'll announce the date for this election at a later date. i'm confident we will elect a new seeker in the coming weeks. here is why it is so important, not just to have john boehner at top or figurehead at top, the house can not take up any action period, unless there is a speaker of the house.
the boehner set date of october 29th for election. october 30th, he goes home to retire after 25 years in congress and five years as speaker. now appears the timeline is most certainly in doubt but out the window. as your previous guest mentioned there there is a lot to do on capitol hill. three of most pressing among them, highway bill, comes up october 29th, debt ceiling november 5th. big battle that everybody here is awaiting to see is the long-term budget funding, december 11th. question is how many of those is boehner a part of. trish: republican party certainly faced challenges. democratic party has as well. look success of bernie sanders recently, socialist to see that the anointed one, hillary clinton, is certainly facing some challenges but as we look at the republican party and we look at the success of donald trump you can see a lot of people are not necessarily as
partisan as they once were. that is reflecting splintering on capitol hill. let me share a tweet we just got crossing from donald trump where he weighed in on this entire issue saying great. kevin mccarthy drops out of speaker race. we need a really smart around really tough person to take over this very important job. perhaps insinuating that kevin mccarthy is not smart enough or tough enough. ford o'connell, donald trump, he represents a lot to a lot of people including the tea party, feels as though the republicans have betrayed them. >> well, i absolutely agree with that. trump is certainly having an effect on the situation but you have to understand the house freedom caucus was having this debate with the establishment long before donald trump came in there. he helped push it over the top as did benghazi comments. what is going on here, the dems
want to republicans to hang themselves ahead of sift is. they see blood in the water. as long as we flail around they not only one presidency but want to take back the house. trish: we have congressman peter king joining us here right now. congressman king, people have a lot of questions right now. are you as shocked as many of the lawmakers we're hearing from? >> yes. anyone who says they were not shocked is not telling you the truth. i would added to the shock was sound system wasn't that good. people were only half paying attention. they thought it was to be routine introductory speech by kevin mccarthy, almost like a double and triple reaction people fully realized what he said. no one saw it coming. he was in the race. votes were lined up. no doubt he would have gotten 80, 85% of the votes in republican conference. trish: you think he would have enough? >> to get to 218?
i don't know anyone would get to 218. a small group of republicans, tiny, tiny minority blackmailing rest of the house. this is unprecedented. we can't allow it to happen. trish: can you fill us in potentially what might have happened behind the scenes? what influenced his decision, congressman? >> all i can think of is kevin decided could not get to 218. this would have been a protracted debate going on. there would have been no speaker. that is all i can think of. as of this morning he definitely intended to go. he was hoping to get to 218. again we never had this standard before where you have to get 218 votes in your own conference. not generally, always up to now, both parties abide by tadding whoever won majority of their conference would get votes on house floor. again, party is united. 85% of the people would have supported kevin mccarthy. now we have to find another candidate. trish: go back to the drawing board here. you have two in thnning,ne from florida, one from utah.
do you think same two are still in the running next week and as we get towards end of the month when john boehner is expected to step down? no i could not support daniel webster he said he would not support nominee the party. he is candidate of freedom caucus. which to me caused this dissension by blackmailing the house of representatives. jason chaffetz is friend of mine i would probably support someone like tom colatosti or -- tom cole or paul ryan. trish: why is so reluctant you think. >> probably saw what happened to john boehner. small group will try to undermine you. paul is a real thinker. he maybe thinks he can bet more done as chairman of the ways and means committee. he has a dream, trying to
rewrite the nation's tax code and bring supply side economics to the floor of the house. i have the greatest respect for paul ryan. i don't know if i would impose being speaker on anyone. i think paul is someone who could bring this together. tom cole of oklahoma. a solid conservative. basically not burned any bridges within the party conference. >> you mentioned not burning any bridges. what is it, what is that quality that someone needs to have in the speakership that can try to merge everyone and bring the extreme, the extreme part of the party more to the center? >> well, i don't know we never had this before, this situation where you had a small group threatening to in effect bring down the house. but i'm, as i think of someone who does, who could have the ability to do, to bring those extremes if you will or factions together, again, only go names i can think of right now would be paul ryan and tom cole. a lot of respect for jason
chaffetz but i think he would be too much identified the freedom caucus. you're focusing on group of 30. there is another group of 180, or 190 feel trying to impose their will on party. i wouldn't expect people from new york and new jersey to be able to control the party. i don't expect freedom caucus to do it either. the idea is to get consensus and go to the house floor. trish: congressman, peter king, thank you so much. >> trish, always a pleasure. trish: want to bring back my panel, everyone, blake, ford, steve, jim. you were shaking your head when he mentioned tom cole. >> tom cole is not liked by conservatives, the same people that brought down mccarthy. two big points. why did mccarthy lose. two reasons. number one who brought down boehner said wait a minute we're replacing one of the leaders with the other. this is no change at all. i think that hurt him. obviously the gap was the final nail in his problem. this is business show. be very clear on this for your viewers. the democrats are playing this
game, oh, my god, we'll shut down the government. we're going to default on debt ceiling. chances of that happening ladies and gentlemen is zero. that is not going to happen. democrats are playing a scare game. john boehner will be speaker until it gets resolved. may take a week, couple weeks. this idea we'll default on our debts is nonsense. shame on democrats trying to spook markets with that. trish: if people were worried about us defaulting on debt. >> it is not happening. >> stock market is actually up 43 points right now. >> but you will hear more of this, trish. but you will hear this. this is the drum beat by democrats next two weeks. oh, my god, armageddon will happen. trish: good thing investors are in to make money. they see through a lot of rhetoric, if you would. back to the idea who might be able to lead though, ford, i would like you to weigh in on idea of paul ryan. >> i think paul ryan would be fantastic but i also think paul ryan loves the current position and may one day actually run for president.
so becoming speaker of the house is black mark from you. whoever from the establishment side will have to sit down with jim jordan and freedom caucus. give them plum committee positions and bring one of their own basically into leadership. what they want is seat at table. that is what they're tired of establishment blocking them out. that is why they hated john boehner. put his thumb on them drowned them. we're not backing down. we'll agree on someone if you give us a seat at head table. trish: we want to bring in congressman john radcliffe from texas. congressman, i was asking congressman king the same question. were you shocked? >> trish, good to be with you. i think everyone in the room was very surprised at kevin's announcement today. trish: very surprised. so what do you do now? who are you going to support? >> trish, for the last month i've been advocating that i think the best person to lead our conference going forward with be trey gowdy. i've been saying that publicly and privately.
i'm going to continue to encourage that. i was prepared to vote for trey today. and i'm going to continue to try to encourage trey to consider taking that leadership role going forward. trish: we have sort of two contenders at the moment. we've got jason chaffetz from utah. and we've got dan webster from florida. as we fast forward to the end of the month when john boehner steps down, do you think either of them will be speaker? >> i think they're both good guys. i know them well but this is unique opportunity. i'm looking for the best person. as i've been say i think trey gowdy is the best person. until that doesn't happen i'm not going to settle for anything less. trish, this is great opportunity today for republicans. i think we've really demonstrated to the american people that we're not about to status quo. we had a speaker step aside. we had majority leader very close to becoming leader step aside. today's event shows our party and our leaders are listening to
the american people. they are demonstrating -- trish:s awe heard congressman king point out it is a small part of the party. the majority of republicans are far more to the center, so to speak and it is really the extreme, sort of tea party foles that have caused this change. >> i don't know that -- trish: ultimately, sound like you're saying it helped? >> well i don't know that i agree with the characterization that it is, that it is tea party folks. i'm not big about labels anyway. but what i do know we listen to constituents, in my district includes all kinds of republicans they're not happy with the status quo. they want a change. principled, conservative leaders that have demonstrated that, i think trey gowdy done that on benghazi select committee. fortunately we have number of good folks in the conference fit the bill. for now, trey's my guy. trish: thank you, congressman ratcliff.
as we get back to the panel, one of the concerns about john boehner, jim, he was too close to president obama. he didn't stand up to him. he didn't fire back. you see this around america right now. americans want someone that can fight back, whether to vladmir putin or republican, want someone to stand up to the president. we need a little machismo when it comes to politics these days. >> right. trish: that could very well be, carly fiorina by the way. she has got that, if you would. but can we. do you think we'll see someone that is stronger when it comes to dealing with president obama in his final days in office? >> i think should look at donald trump, bernie sanders and what is going on in the house. there is a thread that connects them which is america is having a howard beale moment. they're not just angry, oh, i like this guy, that guy. they are upset.
torn up the playbook. pushing back on press. pushing back on mainstream candidates. they're not getting traction they want. you seen one of those moments. i heard six names. chaffetz, hensarling, ford, ryan, gowdy and webster. so you have six names. that is not any kind of consensus. the freedom caucus -- trish: kind of like the republican field for president. >> freedom caucus would have voted for mccarthy in exchange for committee assignments, changes in rules. that was the deal in the making. mccarthy withdrew. there is the story there. the point is, the freedom caucus has list of demands. give them demands you need to elect speaker of the house, that will gum up works in debt ceiling. i think this is all connected. i don't think we're out of the woods on debt ceiling. trish: you don't think we're out of the woods. you don't think we're out of the woods or that it will hurt so much. we'll continue the conversation. jim rickards, thank you so much. we'll be back with you later in the hour.
again we'll continue following breaking news. what does it mean for gop. how will it affect the party's future. long-time republican supporter, billionaire boone pickens will weigh in. hillary clinton is stepping even further to the left, unveiling a new plan to go after wall street. we've got it for you. the consequences of it. stay with us. ♪
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trish: a lot going on now for you. donald trump is expected to speak any moment in las vegas. we'll go there live. kevin mccarthy stepping aside saying he is not the man for speaker of the house. we have analysis for you. other news breaking at top of the hour. the fed minutes are out. they think economy is almost ready to take hike with most
participants thinking rate hike may be at the end of year. were more on all of this, market reaction, ashley webster joins from us the floor of the nyse where investors and traders are trying to die guess news from the fed and news out of washington. ashley? >> absolutely, right, trish. what is interesting right at 2:00 when the fed released those minutes and people wanted to get in there and see what was thinking behind the no rate hike in september, the market jumped up 74 point. since then it kind of filtered back down. we're on upside. flat day as markets taking their breath. as you read what the fed said, you're absolutely right. they felt risks to the downside increased. that is basically why they did not want to raise rates at this time. they said it would be prudent to wait. they felt the problems in china, while very real, would only have a small impact on the u.s. economy, but they were split saying that if they felt that if
they raised rates too quickly, that could push inflation lower. but others say, wait a minute, if you wait too long, that could create buildup of inflation. what did they do? they did absolutely nothing. they say it could be prudent by end of the year to raise rates. we shall see. generally a dovish statement. market is moving slightly higher. very quickly, trish. have to mention oil, jumping significantly on news that iran, using cruise missiles against syria. four of those cruise missiles actually fell into iran. iran is not confirming this. but military officials are confirming to fox news they believe that this did happen. no reports on any damage or casualties. certainly adding to chaos going on in the middle east. as a result of that, we've seen oil spike quite considerably. we'll keep an eye on that. trish: russian missiles fired at syria have crashed in iran. >> four cruise missiles at last report. that's correct. trish: thank you very much,
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become next house speaker. >> speaker. >> i will stay on majority leader. if we are going to unite and be strong, we need a new face to help do that. >> joining us now is mike emanuel and adam goodwin. mike, beginning with you. have you talked with anyone that that they've seen this coming. >> absolutely not. kevin mccarthy said i am not your guy and dropped out of the speaker's race. absolutely stunned. some people were crying in the room. some thought that he was the next speaker of the house. nobody has seemed to see this coming. dropping a bombshell around noon. at this point, there is not an obvious choice.
paul ryan. a lot of people seem to think that he would be good. giving the leadership that is needed. an economist from heritage. he is saying, no way. no interest. thank you. adam, who do you think we may see throwing their hat in the ring? we know about webster from florida. a lot of people do not think that either one are going to get it. >> heaven knows what is going to happen. they have been helpful to danny webster. i tell you what americans are really looking for. washington is shocked. americans are hopeful that maybe this is the break that we needed. things were not getting done. they just were not getting done. if you look at the presidential race, the contenders, i think it
is about every one of them now. making progress because of that. maybe, just maybe this will be a very good thing for the party. it is not -- it is a declaration that we need to do more and better. >> adult, are you suggesting that it was the republicans fault? >> we had president obama in the white house. done everything he could to play politics. the reality is, let's talk more broadly, trish, but washington. integration and infrastructure. the new debate over planned parenthood. things just do not seem to be getting done. before we start talking about the name of the next leader, we should be talking about what the game of the next leader should he. moving things forward.
i think we find the leader that matches that. we move forward. hopefully with not only confidence, but an attitude that we will get you started. >> can you just walk me through the timeline that we have to look for now? october 29. the expiration date on john boehner. they need to figure it out by then. >> releasing a statement saying he will stay on the job until a new person is elected. somebody gets 218 points. now we are starting from scratch. some people are talking about maybe a senior statesman. a caretaker through the 2016 election. a new congress. all options need to be on the table at this point. they are hoping that the colleagues will give them a closer look. >> thank you so much.
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paying a fight am pleading guilty. this ends a federal investigation. a legally sourced wood products. go pro sinking. analysts cut their profits for the company. consumer complaints. nearly double. the best on-time rate. the most complaints along with frontier airlines. okay. when we come back. boone pickens. he will tell us his take for president of the united states. we will be right back. ♪
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we had to have a trade agreement that would create good american jobs. raise wages and advance our national security. i believe that that is the high bar we have to meet. trying to learn as much as we can about the agreement. i am worried. >> this is an agreement that she was in support of. helping create secretary of state. i want to take you back to this comment that she made. >> we are high-tech. we have highly educated work forces. rising incomes. being smart about how we use our economy.
people all over the world back in 23rd team from washington, d.c. a very different tone. she sounds very supportive. a fresh attack on wall street. wanting to send anchors to jail. the trading floor. apparently a crime. we are not china. we should not be penalizing for trying to make money. is that what we want to become? democratic strategist. how do you defend her move here on tpp, the transpacific trade agreement. helping obama put this whole thing together. you heard her talking there. >> listen to the tape. there is no shift. she used the word could.
always been very, very, very clear about this. >> really? >> the 21st century. >> high spenders. clearly, to her estimation, this is not. she has been very clear about that. >> i will let forward way in. >> back and 13, 2013 saying we needed something like this. >> 2012. this is the political flip-flop of the 21st century. hillary clinton is putting us all on notice. this is about scaring joe biden out of there. she is in trouble and she wants to win. that is nonsense.
this is important enough. 100%. being supportive of those efforts. >> yes, you are. you are a free-trade guide. i am guessing you are in support of this agreement. the reason this is so important, by the way, bill clinton was a free trader. this is one of the things that defined him as a democrat. we had a lot of trade deals. this is a big moment. they knew that when was gone. hillary, we hoped she would went as a bill clinton new democrats feared she is running as a leftist -- >> has bernie sanders forced her there?
>> barack obama himself. this is his trade deal. she not only supported it. she helped enforce the deal. now she is running for president. >> president obama may start feeding that joe biden rumor just a little more. >> that is a great point. this may even make it a wider feud. >> you know, it is the big bad thinkers. they are the reason why. that sort of a mantra. the last time i checked, most employees had a shot of some type of corporate protection. by the way, you want to go after someone. those executives could be at fault for the death of 12,000 people.
she is trying to go after wall street. >> because guess who of all candidates in this race, more money than wall street. it is hillary. a perception problem. attacking the very same people. i take something. he has never even prosecuted. >> very good point. no pun intended. the role of wall street and her campaign. thank you very much. donald trump, everyone. expected to take the stage any minute now and las vegas. we will take you there live. stay with me. i also have boone's pickens coming up next. as ...that sound good? not being on this phone call sounds good. so
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>> kevin mccarthy. shocking washington with his decision to drop out. what it means for the future of the republican field. boone pickens. good to see you again. you are thinking about me for speaker of the house. >> oh. you tell it how it is. would you take the job? >> no. >> paul ryan. he said no. steve moore. i do not want it. a lot of people are thinking they do not want it right now. it is a challenging place to be. he said he did not want to do it. he said he did not want to do it. he is busy.
>> two weeks ago he was gung ho ready to go. >> what do you think happened today with mccarthy? >> i do not know. i heard what he said. >> he said to sean hannity that the republicans put together a committee. do we have that fight? can we take it and play it for folks? no. the republicans put together a committee to investigate benghazi. now look at where she is in the pool. now suggesting it was politically motivated. >> i spoke with him before that. that is when i saw him. he was gung ho. then that came up. everything seems to have gone downhill and out the window. i do not know. respond to it, he is out.
why do we spend any time talking to him. he is not a fact her. now, who is. >> do you have any candidates? >> utah. >> and then you have the guy from florida. webster. a lot of people are saying neither one of them will be able to get it. more on the two-party edge. they will not be able to get the left of the votes. you have to get the to 18. >> i do not know. i kind of thought that that is why -- he told me he had 218, i think at that point. i said, are you in home free? he said, well, not exactly. and so i do not know. >> there may ultimately be a bottom names in there.
we will see as this progresses. turning to the republican field. you have been if i plot republican. what was the first race you voted in? >> i never voted for a democrat for president. the first one i voted for was a blanket. [laughter] >> you are not that old. >> i have money on jeb bush. i have money on carly. i just saw ben carson had a long talk with him right here in the green room. a few minutes ago. you would not believe what i found out on that. no, i am not going to tell you. >> would you think of trump? trump. >> you have it all taped in the green room. >> what you think of trump. >> he will not make it. he will never hear the starters. he will not hear on your mark,
get set, go. thing. he will be finished. >> you will stay with me. we will talk more. we will share that with our viewers tomorrow. boone pickens, everyone. hillary clinton is starting a war on wall street. this one is more about appearances. she cannot hit too hard. she needs all that wall street money. like ed i will explain after this. ♪ eddie's retirement, and start planning your own.
just like eddie, the first step to reaching your retirement goals is to visualize them. then, let the principal help you get there. join us as we celebrate eddie's retirement, and start planning your own. >> the laws were not as strong as they needed to be to hold individuals accountable, so i will do everything i can to make sure that individuals are held responsible, and if we need to change the laws, we'll change the laws. trish: all right. that was hillary clinton going after wall street in an attempt to appeal to her base earlier this week ahead of tonight's speech from her. i want you to think about something. despite all her tough talk on those big, bad bankers, she's failing to bring back the very thing that many believe should stop another 2008 from happening.
you see, back in the 1930s in the throes of the great depression after all the bank runs, the glass steigel act was put into place in 1933. it separated commercial banking from investment banking during the great depression and for years after. and the thinking was, you know, taxpayers shouldn't be on the hook for the risks that investment banks take and, thus, keeping the banking businesses separate could and should prevent that, and it did for years. hillary clinton's husband, bill clinton, however, repealed it during his administration, and his move is widely seen as being a big contributor to the 2008 crisis that we later faced. bill clinton gave birth, effectively, to the modern-day supermarket big banks, citibank, bank of america. they can all thank uncle bill. well, in her plan today she's not looking to reinstate glass siegel in any way, shape or form. why? aside from making bill look bad, her ties to wall street are too significant and wouldn't allow
it. take a look at these numbers, everyone. money from these banks' employees, owners and those individuals' immediate families have given to hillary's campaign so far in 2015. big, big, big numbers. so combine this with her refusal to support tpp, a plan she helped to create as a member of the obama administration, and you've got to wonder who is hillary clinton? liz, over to you. liz: trish, we've just hit the highs of the session two seconds ago. the dow is spiking as we have drama on capitol hill and on the 2016 campaign trail, but it's not frightening. the bulls are waking up the bears at this hour on wall street. the dow jones industrials, check it, up 111 points, going for five consecutive gains in a row. it is up above 17,000 now, 170,23. the s&p is partying as well. this is the longest winning streak if we close out to the upside this entire year. the markets actually got goosed around 12:30 p.m. eastern time.
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