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tv   Making Money With Charles Payne  FOX Business  June 12, 2017 6:00pm-7:01pm EDT

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thank you for having us in your homes. we had a lot of breaking news to cover there. gerri willis is in for charles payne tonight. gerri: the 9th circuit court of appeals is siding with a federal judge in hawaii and blocked president trump's executive order. reporter: all eyes on the u.s. supreme court trying to figure out the future of the president's travel ban. the administration wants the supreme court to reject several ruling which have halted the president's executive order. that order halted immigration and travel from people from iran, libya, sudan, syria,
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somalia and lebanon. it rules the president does have the power to control immigration but exceeded his authority given to him by congress. >> cases should be decide on the rule of law. when you look at the -- when you look at what the law is that allows the president to do this. that's what we were deciding on. any lawyer with their salt fully agrees the president is within his rights and responsibility to do what is necessary to protect the country. reporter: the u.s. supreme court is asked to throw out the injunctions and allow the travel ban to be implemented.
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and rule on the legality of the travel ban. if the court decides to hear arguments on the legality of the ban, those could take place in the fall. gerri: what does this mean for trump's efforts to ban this. >> there is nothing in this decision about tonight comments president-elect made, the rhetoric and comments as indicative of intent. the reason for that is they knew full well the 9th circuit that it's not at all clear such comments can be taken into account.
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and they reversed the district court, and you have got to go through the weeds to see this, and said the government can do internal investigation of the vetting process. very important. and you saw that. >> that was a change. if you take a look at this, what does it mean for the supreme court, in your view in. >> the 9th circuit reversed in part and also agreed in part with the lower court's ruling. what it basically said. it gave the united states supreme court two reasons why they should strike down president trump's ban. what they said was that the administration didn't provide a sufficient reason why banning the possibility of entry of these 180 people from these six
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particular countries would be particularly dangerous to national security. they said the administration can't just throw out the word and it would be talismanic. gerri: if this is true, how does the administration change its argument before the supreme court to get what they want? >> what they said is, the president didn't make sufficient showings. but that left open whether they might be able to make such showings. the other point i wanted to make is they didn't reach large constitutional question. there is a doctrine of law that says if you can decide the case on the statute, they didn't want to frame as a religious constitutional analysis, and
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they went on the immigration and nationalization act. gerri: it's okay by this court if you increase the number. but if you say i want fewer refugees coming in, it's a big no-no. that's con founding. how can you allow one way and not the other? >> it seems like the court is trying to rewrite the order. the 4th court made its decision based on discrimination. but now they are saying he violated the immigration and nationality act and discriminated on country of origin. that's not what the 9th circuit said here.
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gerri: when you look at this, tell me what you think will happen with the supreme court. look into your crystal ball. >> that's a great question. i'm one who believes purely on law, there are a couple technicalities that could trip up the opponents of the ban. standing. did the people who brought the case have standing? how can you have the case before somebody has been denied, and those were addressed in this opinion. but i think it will be extremely close. at the end of the day, i'm not hesitant in predicting there may be a reversal of the 9th circuit. gerri: troy, how do you think the supreme court is going to come down on this? >> the 9th circuit is the most reverses among all the circuits.
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that's why they are known among legal folks as the 9th circus. there is a big chance they could be reversed. the supreme court is not final because they are right. they are right because they are final. gerri: the political implications of this, ford, you know what everybody seems to ignore here, and by this i guess i mean the left pretty much and all the complaining about what trump is trying to accomplish. there is a lot of support publicly. rasmussen has a poll that shows 5% of americans say we like this evident the trump administration is making to put some controls for a temporary amount of time on immigration into this country. do they do that at their own peril?
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ford: being shut down by the 9th circuit is a victory for president trump. if you want to know what presidential authority is with respect to immigration and naturalization. what i do find interesting is the 9th circuit didn't claim it was a religious test, it's natural origin. theth circuit said he may be able to do it if he want to do it as diplomatic retaliation. the 9th circuit left the door open for president trump to make this work which i found interesting. gerri: i think americans are on the side of the president in this conversation. i think the left ignores that at their own peril. gillian: americans will perceive
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that as the court playing politics. but we have to look at how the president has undermined his own message saying this latest version is watered down and incorrect. i think he will face taken uphill battle at the supreme court, and it's largely of his own making. gerri: i'm concerned about the overall political implications of this. but at the end of the day, what's the line on this? ford: politically president trump is using all tools necessary to keep americans safe. what the democrat say is they throw feeling out there. this might be a religious test, this might be something else. but they you have a no solution to the problem. one of the things donald trump was elected to do was get things done.
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you can question the wisdom of the travel ban, but at least he's out there doing something. gerri: treasury secretary mnuchin talks tough on the debt ceiling and national security next. will you be ready when the moment turns romantic?
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gerri: secretary mnuchin dropping the hammer on the debt ceiling. >> my preference would be that
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we address the debt ceiling as a debt ceiling increase and respond to budget decisions in a budget and through the appropriation process. the debt ceiling should not be a republican issue or democrat issue. it should be an across knowledgement that we have spent the money and need to fund the government. i'm comfortable saying we can fund the government through the beginning of september. gerri: gabby, the treasury secretary saying guess what? this isn't a republican or democratic issue. we have to have money to fund the government. we have already done the spending. will he be able to depoliticize spending in the budget? >> no, he won't. congressional republicans can't
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decide whether they want a clean debt ceiling hike. it's also a fight happening within the trump administration. you have secretary mnuchin saying he supports a clean debt ceiling hike that puts him and the president at odds with mick mulvaney. what we learned today in this hearing with secretary mnuchin is he's pushing congress to come to a decision before they leave for the august recess on whether there is going to be a raise in the debt ceiling. gerri: attorney general jeff sessions just released a statement on the 9th coast appeals decision on the travel ban. president trump's executive order is well within his lawful authority to keep the nation safe. we disagree with the 9th
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circuit's decision to block that authority. >> the administration has stood by in defense of that ban. it's important for jeff sessions especially to come out and make a defense of that travel ban. the president just recently attacked the justice department for the what he called the watered down version. i think jeff sessions will rise to the challenge every time it presents itself to make it clear the justice department is going to strongly pursue getting the *'s travel moratorium in place. gerri: no surprise there that he would be vocal and outspoken. lots of eyes on this administration. what do you see coming forward out of this as we go forward. >> the reaction we are hoping to see is president trump to this decision.
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last time something like this happened related to his travel ban which caused this administration a complete headache, he issued a series of tweets that caused him more headaches. we'll be watching to see whether he reacted to this 9th circuit court decision. the justice department already appealed to the supreme court. and they will defend this to the end even though the 9th circuit has been a thorn in the side of the administration from the get-go. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest
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gerri: attorney general jeff sessions just releasing a statement on the 9th circuit
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court of appeal blocking president trump's travel ban. he said we disagree with the 9th circuit's decision to block that authority. i read another statement from this because it's pretty compelling and takes on that 9th district coast appeals. he said what the administration is doing is based not on religion, but on a desire to keep the community and our nation safe. it's fascinating, hitting hard on this 9th circuit decision to block that authority. sessions writes the threat to our nation is immediate and real. we have to responsibly vet those seeking entry here. he's really punching hard at the 9th district. >> it's protecting the
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privileges and prerogative of the chief executive. this is about the president having the authority and ability to set priorities when it comes to people coming into our country. this is six majority muslim countries. and there are almost 50 muslim countries around the world. these are countries with a failing state and conditions on the ground our commander-in-chief deemed a threat to our country. gerri: what do you make of these comments? >> attorney general jeff sessions is absolutely correct. president trump has the presidential and constitutional authority to keep our nation safe and suspend immigration even temporarily from areas that could do us harm. let's not call this a muslim
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ban. fit was a muslim ban, he would have to ban 50 countries around the world. he's temporarily pausing 6 terror hotpots. we now it's difficult to vet the people coming in from places like syria because it's a war-torn country. isis has broadcast they have a fake passport making machine. it's very dangerous to bring in millions of refugees from areas where we can't properly vet them. president trump is doing us a favor by putting our safety and security critics say ts shows an anti-muslim bias. jeff sessions says it's not about religion it's about the safety for the american people.
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sessions really here on the offensive against the 9th district and we'll have to be in front of the supreme court making their argument very soon. do you think the president is successful in rallying the american people behind his effort? >> we have data that shows the american people do support a temporarily halt, a pause until we can have a vetting system. going back to the issue of syria, james clapper and james comey both testified to county many impossible to vet refugees from syria thoroughly and properly. going back to it being about the commander-in-chief and his constitutional authority and powers. that's what jeff sessions will be arguing. gerri: thanks so much for coming on with us.
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breaking news from the treasury department. adam shapiro has the details. reporter: it's the first of four reports the president wanted from the treasury department about simplifying the financial regulatory system. it will make small and community bank operators pleased if they go into place. the way to do that, taylor the regulatory approach and require great regulatory reform and cooperation and align regulations to support liquidity investment and lending. the dodd-frank stress test. if you have $10 billion in total assets you are subject to that stress test. the treasury is willing to raise it to $50 billion.
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i'm going to read from the report. the cca our qualitative assessment is too transparent and should be eliminated as the sole objection. bottom line in english. one of the proposals is that stress test threshold from $10 billion to $50 billion, that would free up community and smaller banks to lend. gerri: the small banks are responsible for getting so much money to small business. adamaging, thank you so much. less than a week after former f.b.i. director james comey slammed the president before the senate intelligence committee. comey's former boss gets the chance to fire back.
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gerri: attorney general jeff sessions will testify tomorrow, in open session, following former fbi director james comey's testimony last week. sessions is expected to answer questioning regarding russia investigation, and comey's firing.
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welcome to you, great to have you here. ford, with you. i understand that sessions was asking for this to be public hearing. is that a smart strategy. >> he better bring his a-game, the democrats will have their knives out. i see this high-risk, low -reward situation. the democrats are never going to be satisfied. gerri: this is he was in senate for decades, he has a lot of experience, he is talking to people he knows well. could it be smart to get in front of them and speaks his mind. >> if the reward is keeping his job, then this is where he wants to be. there is talk president trump considered letting sessions go with some issues with travel ban. in general with the justice department.
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i think it would be his opportunity to defend himself and trump administration. at recommendation of rosenstein and sessions in part, comey was fired. now sessions will have to make the case strongly, why he wanted james comey to be fired . and fight back to james comey's attack last week. he has said in a statement he was not silent, we have to hear him being forceful, he is a mild mannered senator. gerri: emily. what is interesting about these investigations, they seem to go everywhere, you can't predict where they will go next. what is potential down side here for the administration? >> right, the biggest down side, i agree with ford the democrats are out for glad, the question is, is their grandstanding resonate. the down side tomorrow, there
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will be big questions of jeff sessions regarding a meeting he allegedly had at a reception at mayflower hotel with the russian ambassador that was not previously disclosed. it sounds like he had a nonprivate meeting where he greeted him in a reception line. the larger question is pattern. why do we keep finding that trump satellites had undisclosed meetings with russian ambassadors. that could go one of two ways, if he does a good job, he will have an opportunity to downplay it. gerri: ford, what do you make of that? you are raising questions about whether sessions could handle this audience. but, doesn't he stand to gain currency, he is talking to the public and the committee? >> on top of being a political strategist, i am also a lawyer, i know that 1 on 46 is not very good odds.
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there is no question that jeff sessions should be able to put this to rest. you have to realize they will ask him questions about other sthijs that ar things that are not even rationally related. my only worry is that jeff sessions is trying to make up for recusing himself, now he will put entire administration on his back and try to make a home run, i don't like those odds but i am rooting for him. gerri: stay right here, i want you to hear thoughts on this democratic senator diane feinstein, a member of senate judiciary and intelligence committees calling for a closer look to former attorney general loretta lynch. let's watch. >> i think we need to know about that. and there is one way to know about it, that is to have judiciary committee take a look at that. gerri: all right, vince, this
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is one of most amazing things in my view out of comey testimony. >> i think there is a screaming headline, a top democratic senator wants to establish a new investigation to behavior of loretta lynch, at the time she was head of justice department, and hillary clinton head of democratic party. was there collusion going on. and think aboutthis, loretta lynch does not get to place where she asks comey to change the word from investigation to matter, unless there is a lot more going on in the background. this is something that i think republicans will want to pursue, they should stick their foot firmly in the door while diane feinstein has it open for them. gerri: they will have, to i don't think that other democrats are climbing on board, do you?
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>> not at all, the deaf ending silence -- deafening silence from everyone except feinstein. remember that loretta lynch privately met with bill clinton on the tarmac. these are talking points that were coming out of clinton campaign last summer. >> we're never going to get to the bottom of this, so i don't know who we're kidding. i will say, i think that james comey, threw this on the table to rehabilitate his reputation, to say, i am telling the truth. i'm throwing someone out there, it will be loretta lynch. we all know that the meadial say, hillary clinton is yesterday's news, we're on to donald trump. gerri: all right. thank you, great conversation. >> major shake up at general electric, ceo jeff immelt is
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gerri: temporary grounding of a lightning 2 aircraft, assigned to air force base in arizona over pilot oxygen concerns.
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gerri: general electric ceo jeff immelt stepping down after 16 years at helm, but he will remain on as chairman of the board this stock so interesting, right, in industrial company, ir immelt was successful but wall street did not accept it.
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looking at a chart of ge versus the broader market, it is not pretty, after the tumult in 2007, '08 and '09 there. what went wrong. >> he tried to pivot over to oil and gas after the tumultuous time in 2007-08, he decided to spinoff ge capital, one thing he has not done well is keep up with hi his peers, look at honeywell, and you look at this year, honeywell is up. that is a side they are trying to get into. the honeywell's aviation has
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done well, that is where they are trying to move and pivot to. and ge is still expensive, it is not a good sign with the ceo resigns and the stock goes up about 3.5%, the last time this happened when steve ballmer step aside from microsoft, that stock has been ever since. gerri: you look at some decisions that immelt has made identify time. baker hughes, and the expectation that oil prices would go up, it did not happen. that was a fiscalcasion. and. >> and you could see that nbc was in better hands once it went into comcast, they could not manage the properties, and not able to unlock the value, it was better somewhere else.
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looking at pivot with baker hughes, we know that u.s. will export about 1 million barrels a day overseas, there is an overhang. 45 to 55 are big margins, who knows what they will be able to do on ge side, best of luck to them. gerri: they have got another long-term ge player, plannery come -- flannery coming in, 30-year member of the team there. the beat may go on, we'll see, i want your thoughts on the market before you go. it looks like think it is taking it on the chin again, what do you make of it, where are techs going? >> right new there is a rebalances and refresh. when you see tech sector double returns than rest of market this year, everyone takes a breather, they are rebalancing going into laggards. that is why you see financial doing catch up, material and energy.
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but on a price to earnings growth, you need to be in tech, they are growing top and bottom line, they have the best balance sheets in the market, they can buyback their shares, they can increase their dividends. or implement them, one spot we're in the market right now, some companies are pulling back their buybacks because they are getting ready for next earnings seen, the companies are buying their own shares, there is an underlying bid, don't sell all your techs. >> i love it when people give you positive news, thank you kevin. >> thank you. gerri: coming up president trump slams obstructionist democrats, not many of them, right? at his first full cabinet meeting today, while the market and the economy keep on growing stronger. hi.
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oh. i don't actually talk. though i'm smart enough to. i'm the new sleep number 360 smart bed. let's meet at a sleep number store. >> a billio billion dollars a year of private money to develop a skilled workforce, we're trying to measure is outcome. gerri: that was labor secretary alan acosta addressing the workforce development plan, president trump continues to taut stock market rally. let's look at some of these key factors, don't forget, since the election, s& s&p
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500 up more than 12%. that is right in your 401(k). unemployment reached 16 year low. and economic growth is expected to reach 2.3%, more robust growth than .1 6% in 2016. joining me now, vince, emily and amy. welcome to you all, vince, president can't seem to get any credit. for what is an improving economy. why is that? >> well, for one he has a recalcitrant congress. but, economic optimism has reined since the election of donald trump, and continues. i think that risk of even new regulations seems to below with a trump administration, economic prosperity reins. gerri: not new regulations,
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president is up doing old ones . 3.6 trillion dollars worth of regulation are being ripped away. i was listen to that pressure and questions from reporters, it was remarkably how many welcome le rediculously, stupid questions were asked. >> tha that is a problem in journalism world from a larger stand point, what was so interesting to me, this is a breath of fresh air, something that went unnoticed last week, bureau of labor service announce there is a record number of jobs avai available and skills gap contributing to those that can't be filled. people of my age have not been
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taught to value a lot of these jobs. and there are a lot of people my age were not taught to value those jobs, high school direct people toward college, without valuing other opportunities, this is a serious problem. >> let me tell you, once you own a home, you value those trades. my plumber is one of the wealthest in people that i know. donald trump, himself addressed this issue, who gets credit for what. >> greatest bill in the history of the world, on health care, we would not get one vote on it from the democrats, because, they are obstructionists, that is what they want to do, that is the game, that is their best political game, it is sad. gerri: it is sad, democrats are obstructionists, what do you make of it. >> i would agree with the president, it is a shame, president obama, it took 14 months to get his version passed. when a democratic house,
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senate. everyone needs to take a step back, let the republicans put their final bill together they can then submit it to cbo, come back a couple weeks later then decide and vote. gerri: take a vote, vince, we talk about this economy and the president and focus on things that you know look at the end of the day, if it is not about taxes or rewriting the tax code or helping people with health care, why are we focused on it? are know peopln 't people tired of hear this rhetoric. >> americans are sick of the bitterness in washington. they allow that to consume them. they need to go back to the table, and say where, do we agree.
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producagree. >> this is a sad state of affairs in washington. gerri: two sides talking past each other. thank you so much. >> thank you. gerri: and president trump sets to give an update on fight against isis, one law enforcement leader said that attacks in u.s. could be imminent. details coming up. at angie's lie
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appointments available now. gerri: president trump to announce plans for america's fight against isis in a news conference in the coming weeks on heels of former nypd commissioner bill bratton warning that types of attacks that we've seen in europe could happen here in u.s., here is discuss, michael bal
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bony and ralph peters, michael, president meeting in a couple weeks, in a pressure to talk about terrorism. >> as we know isis group their whole mantra of caliphate in middle east, has been weaken and diminished, they have to establish a digital caliphate, their time table has accelerated to promote their mission. we have an asse an act -- accelerated time table for the rest of us, what we've seen in europe, it can be done anywhere, people are looking for ideas as to how the united states will take its homeland security mission and make it stronger right here. gerri: well, i was just in london, i have to tell you, brits there, you could tell they are anxious, they are nervous, and worried. and colonel, those comments from bill bratton about it
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hack happeit -- could happen in u.s., do you agree? what should we be doing. >> i think we will see more of these common usage attacks where lone wolves or small groups use every day items, automobiles and knives to kill americans. but at the same time, we're very fortunate that we have a different problem than europe or a smaller problem. europe's problem is order of magnitude larger looking at demographics, most of immigrant to u.s., with many exceptions, are better educated, higher skilled, family, and older, and ambitious, europe on the other hand, that got overwhelmingly this latest wave of immigration, unattached young males, illiterate, unskilled looking for handouts, they have had work more problem than us, they will have far more problem than we will have.
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and nonetheless, we must be vigilant, we need legislators to give our law enforcement officials the correct tools to fight in the digital able. gerri: well, you know, you talk about isis weaker. i have to tell you during ramadan, estimated death toll 63 individuals, in 5 confirmed attacks. michael to you, that is not nothing. what do you say? >> yes, not nothing. but we're trying to gear against is what happened with everything in boston marathon, san bernardino, the pulse nightclub shootin and we'll see bombings, we look for those, we fight the last battle, and we need to do is what colonel said, get out, get the messaging right, we've not done a good job doing that. gerri: all right, guys thank youy is much for coming on, it was great to have you, thank
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you for watching lou dobbs is coming up next, right here, on fox business. lou: good evening, partisan witch-hunt known add russia investigation, now has a special counsel joining the circus created by the house and senate intelligence committees, and the recusal of the attorney general, and in all of thises venal madness of the dems and deep state worsens and grows more troubling by the day, only now close relationship between special counsel robert mueller and fired fbi director james comey is drawing greater scrutiny even as republican leaders on capitol hill have been complicit in mueller's


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