tv Mornings With Maria Bartiromo FOX Business December 10, 2020 6:00am-9:00am EST
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seasons greetings to all. we'll be joined by parler ceo john matze tomorrow, electoral fraud whistle-blowers, patrick colbert and jessie morgan. you don't want to miss t maria: good thursday morning, everyone. thanks for joining us. i'm maria bartiromo and it is thursday december 10th, your top stories 6:00 a.m. on the east coast. more bombshell news. the former vice president's son revealing himself that he's under a federal investigation related to his business dealings in china while father was vice president. the very latest coming up. facebook in the had the seat, 48 states and territories plus fdc following new antitrust suit. we will follow all morning long.
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18 states banding together to follow texas' supreme court lawsuit suing four swing states over voting changes this as president trump says he will intervene in that case. texas attorney general ken paxton is leading the charge. he will join me this morning in 8:00 a.m. hour with the details of the blockbuster lawsuit. futures look like this at start of trading, gains in the dow industrials, nasdaq is lower, mixed story underway, dow industrials up 56 and s&p 500 right now up about 5 points. lawmakers still squabbling over relief negotiations while passing one-week extension to fund the government. dow industrials down 105. nasdaq taking a big hit down 243 points and s&p lowering by 30
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minutes. clearing his names papa john's john snashder, he will join me live. mornings with maria live right now. ♪ ♪ maria: let's check european markets this morning, european central bank ready to roll a stimulus package today. we are awaiting the latest out of kristin lagard's meeting this morning. we will give you the details.
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ftse 100 up 31 and dax index in germany higherrer -- higher by 20 points right now. now some of the top stories that we are watching this morning, the trump campaign and 18 additional states will join texas challenging the election results in battleground states. the lawsuit filed before the supreme court arguing that 62 electoral college votes in georgia, michigan, pennsylvania and wisconsin should be invalidated because the states acted unconstitutionally when expanding mail-in voting, they have until 3:00 o'clock today to file response to supreme court. kim paxton will join me live at 8:00 a.m. hour to go through the lawsuit and take a lack -- look at the election. the u.s. reporting more than
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3,000 deaths in a single day. health and human secretaries alex azar says they could start distributing the vaccine as early as next week pending approval of fda meeting today to discuss that. well, the united kingdom issuing a warning saying that two people have had severe allergic reactions to the vaccine including fever and muscle pain. experts say these types of reactions are rare and both people have a history of severe allergic reaction. facebook in hot seat, federal trade commission and 48 states and territories are suing facebook, accusing the technology giant of buying and freezing out small start-ups to choke competition. the lawsuit target two major acquisition instagram and whatsapp. they want facebook to get smaller and sell those units. the statement reads in part the
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gath now wants a do-over sending a chilling warning to american business that no sale is ever final says the general counsel at facebook. both companies say they will ban data brokerrer xmode from collecting location data services while asking app developers to remove software from products. this ties of government and allegations it provided user data for contractors for purposes of national security. markets this morning look like this. futures are mixed dow industrials are up 55 but nasdaq is down 8 and s&p 500 currently higher by 4. facebook, of course, one of the key stocks to watch this morning as the company is forced to fight a legal war, 48 state attorneys general and trade commission hit with antitrust
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lawsuit. facebook could be forced to sell instagram and whatsapp. joining me phil orlando and all morning long fox business dagen mcdowell. phil, great to see you this morning. thank you so much for being here. phil: thanks for having me back, maria. maria: first let me ask you about the tech lawsuits and the suits against facebook. there's sort of a creeping position, government getting bigger on the tech companies for a whole host of reasons. do you think we are looking at a new era in terms of these tech companies being forced to get smaller? >> i do and this to some degree is a bipartisan issue, you have folks on both sides of the aisle, democrats and republicans that are raising the same questions perhaps for different issues and as we roll into next year, we are not really sure what the make up of the administration looks like and what changes and the regulatory
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landscape we may be looking at but things could get tougher, if i'm a big technology conglomerate, i've got at least raise an eyebrow and pay attention to what appears to be a shifting tide here in washington. maria: you wonder if the shifting tide is sort of going on beth sides because this is one of the things that i think both sides of the i'll agree on that these companies have become too dominant, too powerful and they need to get smaller and -- and the antitrust issues around them, zeroing in on things like google has 90% of market share. phil: no question, and if gath excess back for a second bite at the apple despite the fact that they may have already approved regulations or acquisitions at various points in time can change the rules, essentially move the gull -- goal post, the
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stocks have done well and wouldn't be surprise profit taking that have led rally over the course -- over the last 9 months. maria: what's your take on the ipo's of the day, airbnb debuting today, the company selling stock at $68 a share, that's above the targeted range, door dash on first day of trading, closing around $189 a share again above the expectations in terms of going public. your reaction to what's going on in the ipo market and whether or not this tells us something about the broader market, phil. phil: no, i think it does and looking at this from the company's perspective, let's say door dash yesterday, why not go public. all right, they have been enjoying this covid-related surge and business, yet they
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still don't have any earnings. the stock markets are at record highs, door dash was going to originally bring the bill, north of 100. spiked more than 80%. from the investor's perspective, again it reminds me of the sock puppet back in the bursting of the technology bubble. do i i want to own a company tht doesn't have any earnings at $190 a share that may not have earnings when we get back to normal environment. maria: right. we were counting clicks to the website back in the 90's, weren't we phil. phil: absolutely. maria: the broader market, you still like stocks here, anything change from your standpoint in terms of a soft spot in the economy in terms of backdrop?
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phil: we had 3800 forecast and 4200 next year but there are near-term hiccups. we have the ongoing -- 900 billion-dollar stimulus and we have the two georgia runoffs on january 5th, we have hurdles here over the next couple of weeks, so, you know, maybe -- maybe we've got a little softness and profit-taking here until we get some resolution on some of the issues. maria: you make a great point. just a couple of things going on here that may very well lead this market and you could add on a contested election. phil: absolutely. maria: great to see you, phil orlando joining us this morning. we will see you soon. morning mover is tesla, the stock sliding nearly 1% yesterday. it's extending the decline this morning in premarket down another 2%, new street research
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downgrades the stock to neutral saying the stock is above the price target of 538, we know that the stock has been on fire last couple of years. we will slip in a short break, when we come back we are talking about hunter biden now officially under investigation. former whitewater white house independent counsel will join me next into joe biden's son and business dealings in china. next hour we are watching money, plus florida senator rick scott on his letter calling for one democratic lawmaker to be removed from house intel committee over risks to national security, yes, that would be eric swalswell and his dealings with china. what's next for small business? stay with us. plus fox business exclusive, founder and former ceo of papa
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john's on the investigation which cleared him of any racial bias conversation. in the 8:00 a.m. hour education secretary betsy devos is here to talk about democrats proposal to cancel student debt and when are all schools going to be open, texas attorney general paxton is here on state lawsuit challenging the election saying that the governors made changes that were unconstitutional, don't watch a moment of it. mornings with maria live on fox business. ♪
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counsel also yesterday that they're investigating my tax affairs, i take this matter seriously but i'm confident that a professional and objective review of the matters will demonstrate that i handled my affairs legally and appropriately including with the benefit of professional tax advisers. the biden-harris transition team released separate statement saying this, joe biden is deeply proud of his son who has fought through difficult challenges including the vicious personal attacks of recent months only to emerge stronger. we will talk with robert ray about this. we are talking about business dealings with foreign companies, he accepted money from a chinese company and was doing business with the chinese company which, of course, is tied to the chinese communist party. dagen: here is something that we
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also know and this is based on reporting. it's politico that has article that i was looking at but the federal investigation into joe biden's son, hunter, has been more extensive than the statement than hunter biden. you read part of his statement, but in addition to delaware, the security's fraud unit in the southern district of new york was also looking at hunter biden's finances as early as last year investigators in delaware and washington were also probing potential money laundering in hunter biden's foreign ties. they apparently one of the things that happened, federal authorities in western district of pennsylvania are also conducting a criminal investigation of a hospital business in which joe biden's bore james was -- brother, james was involved and were briefly
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looking into foreign payments into hunter biden last year as a possible money laundering investigation but backed off only after consulting with the u.s. attorneys office in delaware because that office was further ahead in that investigation. so this is as you pointed out a lot more than just taxes. maria: yeah, you know, dagen, we have talked a lot about china and how the chinese communist party has been able to get inside of institutions, inside of organizations so that they can get to individuals with power and that's what we are seeing over and over again. whether it'd be eric swalswell sleeping with the chinese communist party or kristin fang or getting into the houston embassy ensuring they have insider there or getting to somebody as powerful as the vice president's son to do business dealings with. so ultimately, you've got them
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right there that you can do bribery, blackmail, it's very important as we are talking about the potential for different policy with china, potential incoming administration changing the policy with china. we understand where the business dealings were and who was getting paid what with regard to the chinese communist party because the ccp has been very clear, they want to overtake the united states as the number 1 super power. dagen: right, is it too much to ask joe biden and that administration to say, hey, we are going to make sure that his son isn't at at a bare minimum getting access. one thing i will point out that the new york post story, it was
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censored and shut down on twitter, that the account was enactive for weeks and it turns out that basically everything the new york post said and everything that tony said was true. >> censorship of real news and stories. joining the conversation partner former whitewater independent counsel robert ray, thank you very much for being here this morning. i want to get your take on a number of legal stories that we are talking about. number 1 the hunter biden situation and number 2 a contested election. what's going on with texas and 18 states and number 3 we have the fdc suing facebook. first your reaction in terms of hunter biden being under investigation for his business dealings with foreign companies.
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>> as you point out it's unfortunate that more media attention wasn't paid to this before the election and as i predicted before the election it was inevitable if joe biden was elected president that this was going to land right smack in the middle of biden justice department who will mean it'll be very important who the next attorney general is and also who the u.s. attorney, the new u.s. attorney is for delaware and i think you'll expect since there's certain amount of payback to go on here that they'll instantly be called for special counsel investigation in connection with this matter once the biden administration takes office in january. maria: i mean, can he come in and just say, look, my ag is going to shut this down? >> well, look, i have said for some time that the notion that there's a politically sensitive investigation that there's an
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immediate ask to ask for special counsel, it's not particularly wise. i didn't think that should have been the case with trump administration with attorney general jeff sessions. i don't think that he should have been in the position to have to recuse himself but that was the public pressure that was applied politically. i don't think it's anymore more applied here. look, you never know what -- what will happen. maria: hold on, robert. hold on with that thought, we will take a break and then we will continue this conversation as well as looking at the contested election, robert ray is with us this morning.
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is one. the other major story is this texas lawsuit and president trump said yesterday that his campaign will join the texas attorney general ken paxton's election lawsuit. he tweeted this. we will be intervening in the texas plus many other states case, this is a big one. our country needs a victory. robert, as you know 18 additional states have supported briefs in support of the texas lawsuit asking supreme court to overturn election results in georgia, michigan, pennsylvania and wisconsin. your reaction? >> 18 states is significant. there may be more. the president won approximately half of the states. that will certainly get the supreme court's attention for a second and this lawsuit has more chance to have getting reviewed because it invokes jurisdiction, meaning you bypass the federal
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district and federal appellate courts to go directly to the supreme court of the united states and third the president is attempting to join that lawsuit, so it will be, it's discretionary, the supreme court does not have to review it but certain amount of momentum involved where states and the administration are trying to weigh in on a lawsuit making it difficult for the supreme court to say no. maria: i see. that was my next question. could the supreme court say, no, we are not going to take this up? >> maria, it only takes 4 votes to get the court to review something. obviously 5 to carry a majority if they actually take the case. but only 4 have to say we want to review it and the question is are there four votes on the supreme court to say that we should take a look at this. i think that there's a pretty good chance to say that there are. maria: yeah, the merit of this case is basically saying, look,
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because of the pandemic, it may have been well intentioned to change everything but it was unconstitutional to change the way we vote in some cases 930 days before the election, john ratcliffe layed this all out with me on sunday, sunday morning futures. here is what he said about where we are today. >> here in the united states the pandemic influenced a lot about how people voted but also how they had to vote as a result of the pandemic, we saw state legislatures as little as 90 days adopting new voting procedures and universal mail-in ballot in a way we hadn't seen before good percentage of those by mail. that's about an 80% increase over anything we've ever seen before. so it's little wonder that we
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see what's happening around the country as a result with mail-in balloting and all of the questions and the questions that are being raised in lawsuits and by everyday americans about what happened in the election. maria: robert, as a result of that, the texas lawsuit says that there were ballots everywhere, you know, they were sending ballots to a parking lot and the ballot came back completed. >> look, it's election day for a reason, not next week or month or whenever you want to have a ballot to be recorded in an election and the constitutional point is that it is solely the prerogative of state legislatures to make that determination, not other officials within the state that all of a sudden changed the rules because they think it's a good idea in light of covid-19 and, third, the reason the other
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states may well have standing to challenge the result is to say, listen, if you're going to change the rules in other states that's unfair to us and that presents the same sort of equal protection argument that the supreme court previously found valid in 2000 in bush versus gore. maria: really, really fascinating stuff. robert, we have to talk about the facebook suit as well, we will do that next time. thank you very much, great to see you, robert ray joining us there. we will continue to tell you more about the lawsuit against facebook this morning. we will take a break and get back to that. stay with us and we will be right it's smarter trading technology for smarter trading decisions. back.
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futures indicating a gain but the nasdaq lower by 3 and the s&p 500 higher by 4, all this after the 3 major indices finished in the red yesterday, investors are reacting to stalled stimulus talks in capitol hill, the nasdaq down 243 points yesterday. almost 2%. s&p 500 weaker. european markets look like this, we are waiting on european industrial bank to discuss another rollout of another stimulus package today. we are waiting for the ecb's decision on interest rates, kristin lagard expected to discuss more stimulus at the meeting today. ftse 100 up 36, cac quarante up. delta airlines making it clear that it takes passengers' health very seriously, cheryl casone with the details, cheryl, good
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morning to you. cheryl: according to internal memo delta has banned over 700 flyers for violating mask policy beginning of the pandemic. they also announced that they are joining united american airlines to get rid of the change fees on international flights in a bid to encourage more people to travel. well, sony has agreed to buy streaming service for $1.17 billion, two of the world's largest collections of movies. the latest needs to cut loose in 5-year push in entertainment. it bought time warner and direct tv over the time period. pelaton is up in the lone star state. expanding the plano, texas plant
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thanks to demand. 1600 jobs to that area. last month peloton warned it was having trouble and frustrated customers that canceled bike orders. finally, holiday generosity still on top, paypal announced process record $185 million in worldwide donations during last week's giving tuesday which follows cybermonday. nearly 2 million customers across 198 markets donated to causes this year, 40% jump from last year. highest month they've ever began since they began, maria. maria: love it. hunter biden revealed in a statement that he's under federal investigation for possible tax fraud by top prosecutor in delaware. the probe is looking into hunter biden's deals, something that we
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have been telling you for time and that investigation reportedly began in 2018. joining me right now congressman elect alex, thank you very much for joining us. interesting turn of events. now we are understanding what has taken place with regard to investigating hunter biden's dealings with the foreign companies. we have been talking about the issues for some time even as the social media has been censoring this story. it underlining the issue of people in power getting paid by foreigners. >> well, maria, thanks for having me. good to see you again. you're absolutely right. if we remember 2 to 3 years the trump administration highlighted how dangerous the threat china was and tactics like influence operation so it's extremely alarming to know, to think that somebody in the very top position of our country has
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cozied up and very close with china. the other thing that's alarming is to know that during the election that media and social media would not let the story surface. we now know that it should have surfaced. it absolutely would have had an effect on the election. maria: yeah. it's pretty much the reason that i left twitter, you know. i'm there but i'm not -- i'm posting most of my scoops on parlor because i can't accept censorship. this was a real story during the election. now the blockbuster lawsuit in texas. let's talk about that. 18 states have sided with texas in this lawsuit against four swing states that they are saying changes to the state voting systems were unconstitutional, the supreme court telling pennsylvania, wisconsin, georgia and michigan to respond to texas lawsuit by this afternoon. in the 8:00 a.m. hour i will be speaking with texas attorney general ken paxton about the lawsuit. your reaction on where we are with this and whether or not we
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will see the supreme court take up this case where basically it says because of the pandemic it may have been well intentioned and all, but several states changed the way we vote unconstitutionally? >> well, 70 plus million americans have a question right now. it's the gold standard around the globe. our election system should be the gold standard around the globe. and so to think that there's any question about that and 18 states as other guests have mentioned is quite a number. so we will see what happens today but the original jurisdiction to the constitution lays out, it's very important. we need to get to the bottom of this and people need to have confidence in the system and who we elect. maria: yeah, don't forget, we know that china unlearned this virus on the world. they say it was accidental but we don't know if it was an intentional act or not. if the supreme court allows this
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to stay in some way, they are saying, china was able to do what it wanted to do, causing chaos, forcing states to change the way we vote and then there's this bombshell report of a chinese spy infiltrating american politics. now we spoke with dni john ratcliffe on sunday and he told me that the chinese communist party is trying to bribe members of congress. house intel committee members were not told about committee member eric swalswell and his relationship with a chinese national, kristin fang, reported attempted to gain access for politicians in the united states and raising money for eric swalswell, the first time in president's first term, eric was out saying that president trump colluded with russia and all the
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while spewing falsities that now we know were not true at all, it was a made up story while literally in bed with the chinese spy. >> outrageous that somebody on the intel committee, something that should be bipartisan that would have the best interest of our country in mind, that this doesn't come to light. and, you know, i think when you really look at it, the stories are all connected because, again, john ratcliffe rightfully establishes the fact that china is a threat and they use every means possible to win. they want to be the super power. they are playing a much different game and effectively so in order to get top officials either cozied up or to have influence on them. that's outrageous that somebody can sit on intel committee that is compromised by china. maria: congressman-elect, you are now the freshmen class in new congress. what are your priorities? >> first and foremost, we have to lack at our threats around
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the world to make sure that we keep the country safe. my district includes the permian basin, we spoke about it, the oil and gas industry is under attack, that's under attack, we need to make sure the workers have jobs and make sure the instrument of power that provides energy and raised billions of people out of poverty can continue. that's the number 1 priority. maria: yeah. all right, we will be watching your efforts, congress-elect, alex, good to speak with you this morning, thank you, sir. >> thank you very much. maria: watch interview this morning with texas attorney general ken paxton will be my guest live at 8:30 a.m. eastern and we will get into the texas lawsuit to stop and change the election results where 18 states have joined texas. first, though, coming up for free and fair election inside trump campaign's legal battle as they take their case right to the supreme court. plus tripping over kamala
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maria: welcome back, the fight for election integrity president trump announcing in a tweet that he will join the texas supreme court lawsuit aimed to delay the appointment of electors in georgia, pennsylvania, michigan and wisconsin saying that the election results are fraudulent this as 18 other states have joined the state of texas filing briefs with the supreme court to support this suit. joining me right now is reason senior editor robbie suaves, robbie, great to have you this morning, thanks very much for being here. your reaction to the texas lawsuit. >> yeah, it's very interesting lawsuit. i think the difficulty with it is that the supreme court is simply very unlikely to want to hear this kind of case. we are hearing a lot about original jurisdiction. this is the kind of case that goes directly to the supreme court. the issue is the court does not like to hear a lot of these cases, right, they like it when there's a lawer courts really ruling on these matters
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repeatedly and then the supreme court if it has to can come in and look at the procedural issues first. you neglect, they go to any length they cannot to really weigh in on the substantive matters, so in this case you do have, you know, obviously other courts are looking at these issues and have looked at the issues, so the idea that the supreme court is going to come in and agree to hear this, it's not impossible, but it seems unlikely to me given what we know about the supreme court's tendency to look at cases like this. maria: or -- or this is the most important case the supreme court has ever argued. there's that. robert ray just said moments ago that 18 states joining the state of texas is significant. if you have almost half of the states in the country saying, wait a minute, because of the pandemic these changed the way americans elect their leader,
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then they will have to take it. we will know pretty soon whether the supreme court takes this up. let me ask you about the coronavirus grim milestone. over 3,000 covid-19 deaths, with cases increases states pushing for more shutdowns. again, people are complaining that their rights are being crushed. it may be well intended but with these worries over covid-19, people are saying, look, you may have worked your whole life building this business, this is your livelihood but close down. >> yeah, i think we are going well past the limits of what people can possibly put up in terms of livelihoods and mental health being cooped up at home, by the way, the policies being
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implemented in so many states and so many jurisdictions don't necessarily follow the signs. even now in california and la telling people to never leave their homes, this is really horrible for people and doesn't actually follow the science. the schools remain close in many major cities, where i live in new york city is closed. even though dr. fauci, virtually all experts agree that you can safely reopen them. there's a little bit of theater and making people miserable, but the mitigation efforts are just, just really awful. maria: that's right. that is also speaking to what the texas lawsuit is all about. it may be well intended but it's completely changed anything about the way america chooses its leadership, it may be well
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intended but my kids can't go to school, robbie soave, good to see you, be sure to tune in at 8:00 a.m. hour because i will be speaking with secretary education betsy devos and texas attorney ken paxton on the state lawsuit. don't miss any of that, we will be right back. businesses today are looking to tomorrow.
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dagen, can you relate to this mispronouncing any of these? dagen: some people get so upset when someone's name gets mispronounced. my name gets mispronounced my whole life. if you put those names up, i was trying to work on -- put the graphic up of the names again. yonas kumbo, i can mispronounce all of them and nevada is nevada and people in nevada get upset if you say nevada. just saying. maria: you're right, they do. how about elon musk's child, i don't know, xaa8. dagen: when you're that rich smart and a little crazy, it
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could have been worse for the child. maria: yeah. how about this cash concerns? new studies household income of over a hundred thousand dollars a year are fearful that they will never retire. you think a hundred thousand dollars sounds like a lot of money, here are tips, identify one expense to cut on, invest aggressively and alter retirement plans, mark tepper, what do you say? mark: i think this shows that absolutely nobody is insulated from the challenges. if you expect to retire and keep standard of living, number one, you have to pay yourself first, you have to be disciplined about saving. if you don't save, not even a miracle can save you. that 40% allocation towards bonds is going to be a headwind to performance. you need to rethink that.
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third thing change perspective. dagen: they don't want to retire, they like work. it's all made up. maria: yeah, yeah. i do, you do. quick break and then we have fox business exclusive on the other side of this. papa john's ceo founder and former ceo john schnatter. thank you for the good food... and the good karma. thank you for all the deliveries... especially this one. you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere,
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maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, december 10. your top stories, 7:00 a.m. on the east coast. we have more bombshell news this morning surrounding hunter biden. the former vice president's son revealing he is under a federal investigation, related to his business dealings in china. while his father was vice president. we are following this all morning long. facebook also in the hot seat this morning, 48 states and territories plus the federal trade commission filing an anti-trust suit against facebook saying the company should be forced to get smaller, sell
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instagram and what's app, everybody you need to know about the suit and its impact. the fight for a free and fair election deepens, 18 states have banded together to follow techss as' supreme court lawsuit, this as president trump says he will intervene and join in as well. ken paxton is here, he is leading the charge on this lawsuit. he will join me in the 8:00 a.m. hour. futures are mixed this morning. take a look at where we stand, we were expecting a higher opening this morning with the exception of the nasdaq, the dow industrials are up 57, nasdaq is down 14, and the s&p 500 currently higher by 3 points. this after all three major indices finished in the red yesterday. there was negative sentiment reacting to stalled stimulus talks on capitol hill. they did pass a one week extension to fund the government. government runs out of money this friday. dow industrials yesterday down
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105 while the nasdaq sold off to the tune of 240 of points. clearing his name, papa john's founder, john schnatter is here, he's been vin vindicate -- he'sn vindicated b. he will join me live in the next hour to discuss that and a lot more. don't miss this exclusive interview coming up. "mornings with maria" is live right now. european markets are higher, we are waiting on news out of the european central bank this morning, they will roll out a stimulus package we expect. we're awaiting the bank's latest decision on interest rates of course. we'll get the details from the ecb meeting at 7:45 a.m. eastern. the f100 us up 65 points, the dax index higher by 11 and two thirds. in asia you've got fractional moves across the board. as you can see. now some of the top stories we are watching this morning. the trump campaign and 18 states
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are backing a lawsuit filed by texas, texas is challenging the election results. the lawsuit filed before the supreme court is arguing that 62 electoral college votes in georgia, michigan, pennsylvania and wisconsin should be invalidated. texas attorney general ken paxton said the states acted unconstitutionally when they moved to expand mail-in voting saying only state ledg ledge lae -- legislatures can change elks laws. kayleigh mcenany reacted. >> it goes state by state, shows what happened, the unconstitutionalen action of the attorneys. maria: this is an active story. the states in question have until 3:00 today to file a response with the supreme court. texas attorney general ken paxton will join me in the next
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hour to discuss this and walk through the merits of the texas lawsuit. meanwhile, the covid-19 pandemic is hitting a sobering statistic this morning, the united states reporting more than 3,000 deaths in a single day. alex azar said they could start distributing the vaccine as early as next week pending approval by the fda. the fda will meet today to discuss the approval. the united kingdom issuing a warning, saying two people have had severe allergic reactions to the vaccine including fever and muscle pain. experts say these types of reactions are rare and both people have a history of severe allergic reactions. and now onto facebook, it is on the hot seat this morning. the federal trade commission along with 48 states and territories are suing facebook, accusing the technology giant of buying small competitors and freezing out small start-ups to choke out any competition.
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this targets instagram and what's app, saying they have to sell the units. facebook notes the ftc previously approved the deals. facebook released a statement saying this, in part. the government now wants a do-over, sending a chilling warning to american business that no sale is ever final. we'll keep watching this of course and the stock is down this morning in the face of this. google meanwhile and apple taking steps to protect users apparently both companies banning data broker x mode from collecting location services on their phones. this comes amid reports of x-mode's ties to the government and allegations it provided user data to contractors for purposes of national security. time for the word on wall street, top investors watching your money this week, how to allocate it. joining me now is ubs financial services private wealth adviser, allie mccartney, mark mattson and ceo mark tepper. great to see everybody this morning.
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thank you so much for being here. allie, kick us off on facebook. this is a big story about this lawsuit. facebook is forced to fight a legal war after 48 state attorneys general and the federal trade commission hit the company with an anti-trust lawsuit. facebook has to respond to the idea that it may have to sell instagram and what's app as a result. what's your take on this story and should investors be worried about what the impact is on the stocks? these have been the biggest winners in all of the market for a couple years now. >> yeah, maybe that's why they're drawing regulatory scrutiny right now, given their performance. i think also this is a little bit a response to the recent capitol hill hearing and very direct questioning of mark zuckerberg where he was asked to talk about who he viewed as the competition. he was asked by lawmakers repeatedly and although he did acknowledge there was competition, he shied away and
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refused to say who the competition was and this may come back to haunt him a little. if you look at the response of the market yesterday, the stock was down about 2% which is in line with the nasdaq and is down little today in the face of increasing levels of nasdaq. it is an arbiter of what the public is -- there's a little bit of a threat going on, it's a serious threat. the fact you have the ftc involved is definitely meaningful. it's not time to hit the panic button. it's time to be aware that regulatory head winds have been real and talked about since the beginning of those concerns coming to you true -- fruition. we think there's a way to get through this. if you look at the history of companies have been broken up, they've done really well and been able to create value going
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forward. regulatory head winds are real and let's see where we get from here. maria: there's a lot of had head winds coming. you know that the president wants to undo section 230 which gives these social media companies protection, liability protection. that may go away. we'll see about this. but there's this dominance issue. these companies are more powerful than they ever have been. i want to look at the ipos of the day, mark mattson, airbnb debuting today, will sell the shock at $68 a share, above the targeted price it was initially priced at. values the company at $47 billion. delivery company door dash soared on its first day of trading yesterday. pretty good move yesterday. it opened at $182 a share. it closed around $189 and all of that was above where it was priced as well. your reaction to these ip os, what it says about the broader markets and would you buy these stocks?
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>> that's a great question, maria. look, these ipos are extremely sexy. people like to -- they're almost a status symbol for people to buy. but the reality, if you look at the math and the science behind it, is that they make terrible long-term investments. on average, ipos, three years out from the date of issue trade at about 19% under the market. so they have very short-term high kind of a sexy appeal to people and then people kind of come to their senses and they trade in a different range. the other thing is that a lot of people only look at the up side for these things. for example, airbnb in scottsdale, paradise valley where i live, there's a movement against them because a lot of people rent those houses. they have big parties. they have very noisy and people locally don't want to have that in their neighborhoods. so they really have a hard time in some of these areas and they have head winds. so my message to investors is
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don't speculate. don't gamble. don't buy individual stocks. you're better off to buy a small micro cap index so you have 2,000 companies and don't get sucked in speculating and gambling with individual companies. we have had a lot of ipos, over 200ipos this year. that's really important. capitalism, free markets, enterprise, and entrepreneurs will take us out of this as soon as government's unhandcuff them through the future. maria: yeah. i mean, when you have a very strong ipo and capital markets business, it certainly shows you that you've got a healthy market. it's a positive. small caps, meanwhile, have been picking up. the russell 2000 was down yesterday after hitting an all-time high. mark tepper, let's talk small caps and whether or not they're going to outperform the s&p 500. i guess just recently seeing new life into a lot of the smaller names. are you a buyer?
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>> yeah, we are. so i mean, everything you hear right now day after day is dow 30,000, s&p 3 3700. you don't hear a lot of talk about small caps but they are outperforming, since about mid-september small caps have outperformed large caps by almost 15% and maria, here is the strategy for playing small caps and this leads to substantial outperformance over the next 12, 24, 36 months. so right now, 47% of small cap companies make no money. that's been going higher over the course of the last several years, from 30% to 40%, now up to 47%. it has peaked. historically, whenever that peaks and retreats, that's the time to buy small caps. so they outperform like i said over 12, 24, 36 month time frames. the next 24 months you're looking at 10% outperformance historically over large caps. maria: so then you want to try
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to have some exposure. allie, mark mattson, mark tepper, great to see you all. thanks for the word oven wall street. mark tepper, you're staying with us. we've got rick scott on the other side of this. stay with us. we'll get into it when we come back. turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪
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politicians in the united states. she was fund raising for him. scott writes that nobody that has access to our nation's confidential intelligence should be allowed to maintain contact with the chinese communist party. joining me right now, florida senator, member of the governmental affairs armed services budget committees, rick scott. great to have you this morning. thank you for being here. i understand the threat of china very well. and i know that china and the communist party has been able to infiltrate u.s. institutions from the inside. whether it be the embassy and getting information and working it out, the houston embassy, whether it be the chemistry professor at harvard or eric swalwell. tell me what you know took place here and why for three years was eric swalwell all over the media, saying that donald trump was colluding with russia when he was in fact sleeping with the
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chinese communist party. >> well, this doesn't make any sense. slawell is part of the russia disinformation campaign against trump. we know that the communist party of china is doing everything they can to kill our way of government and our way of life. and slawwell's got our most important secrets because he's on intelligence. so how can we -- i mean, this is so basic. nancy pelosi cannot allow him to stay on the intelligence committee and he's got to come clean with this. he won't tell us what his relationship was, if he still has a relationship. so let's get the facts. in the meantime, he needs to get off intelligence. he's got access to information that could hurt us and he's got a relationship with the communist party of china. it's as simple as that. maria: the same could be said for adam schiff. i mean, for four years adam schiff was all over the place, saying that donald trump colluded with russia and that it
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was in plain sight. he kept saying it's in plain sight. and now we know that schiff is refusing to disclose why he withheld details about swalwell's relationship with a chinese spy, he knew about the relationship. should adam schiff step down as well? >> absolutely. i mean, these guys knew what they were saying was inaccurate. complete lies. and so why are they in the same position, why are they in those positions? but with slawell this is pretty basic. he's in intelligence. you can't be in intelligence and be with the communist party of china. it doesn't matter what the facts are. you get the democrats, they'll just say things. i preside over the senate every week. i have to listen to democrat speeches. oh, we need to do something on covid relief. well, maybe they should stop blocking it.
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so it's just a bunch of complete lies up here and misinformation. maria: that's really a sad state of affairs for the american people who would like to trust the process and also like to trust the election, an election is the reason that our men and women lose their lives in battlefields across the world. i want to ask you about what took place here because the chinese communist party unleashed this virus on the world and in addition to killing hundreds of thousands of people, it also caused the states to change the way we vote and that is the basis of this texas suit. florida has joined 17 other states including arizona late last night, writing an amicus brief in support of the texas lawsuit, sent to the supreme court, calling on the high court to throw out election results in georgia, michigan, pennsylvania and wisconsin, because they changed the way we vote
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unconstitutionally. president trump announced yesterday that he has also personally filed a motion to intervene in this case. senator, what's at stake? >> well, what's at stake is the election. what's at stake is do we feel comfortable that we have free and fair election. right now, there are so many americans that are just fed up with what the democrats have done. they know the process has been set up, is not fair. when you don't have voter id, when you just mail out ballots to anybody and everybody. when you don't have signature matches. what do you think is happening here, when you don't let people watch when people open ballots, what do you think is happening here? the democrats have got to understand that we want free and fair elections. look, whoever wins in a free and fair election we're all going to accept the results but we're not going to be comfortable if we don't know how -- if we don't know if the process was fair. so i hope this is the lawsuit that gets people comfortable that we know exactly what happened here. that's what we want to know. i have a bill called the voter act. it will require us to do mail-in
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ballots like we do in florida where it works. we have to have voter id. your signatures have to match. your ballot has to be in on time. have you to be able to watch people open up ballots. it's pretty basic stuff. maria: senator, what kind of insanity is it that we would actually allow people to vote without an id? you need an id to get an alcoholic drink. it's outrageous. one more question on the supreme court situation. when are you expecting to hear from the supreme court on this texas lawsuit? >> i hope very quickly. we've got to get to the bottom of what happened here. we've got to get the american public comfortable that this election was free and fair or not, one way or the other. so i hope the supreme court makes their decision very quickly. i want to thank everybody that's trying to make sure all legal votes are counted, that we investigate fraud, and we make sure people feel comfortable that we're going to have free and fair elections, we just had one. we have one in georgia,
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january 5th and we have one going -- we have free and fair elections going forward. maria: yeah. i mean, this is just about the future as it is the past, for sure. senator, good to see you this morning many thank you, sir many senator rick scott joining us there in washington. we'll be right back. apps are used everywhere...
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a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. maria: welcome back. big tech and censorship, youtube is announcing they will remove videos disputing the results of the 2020 election. the google owned service tweeted this yesterday. yesterday was the safe harbor deadline. now that enough states certified their presidential election results, we'll remove any content published today or any time after that alleges widespread fraud or errors changed the 2020 u.s. presidential election outcome. youtube also says that they will make sure that the line
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between what is removed and what is allowed is drawn in the right place. dagen, we right now are waiting for a major lawsuit to be heard by the supreme court in the state of texas. where 18 states have joined the state of texas. but youtube is not thinking about that. they are just looking at the safe harbor date and making the decision on their own to remove any content they say about the contested election. i've got to tell you, we've been ahead of a lot of stories, dagen, on this program. you have. i have. the two of us together. this is probably one of the most important that we've been ahead and that is the dominance of big tech. dagen: indeed. and the censorship is incredibly widespread. we talked earlier about twitter censoring the new york post article about hunter biden and shutting down their twitter account, their twitter feed for
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literally weeks. alex baronson who is a former colleague on mine, a former new york times reporter wheat an op-ed in the journal this week titled covid and the new age of censorship and he said this is being encouraged, this censorship and suppression is being encouraged by technology giants and traditional media companies. since june, alex has written some booklets about covid and amazon has twice tried to suppress those self-published booklettings that he had written and the response to it. these booklets do not contain conspiracy theories, wrote alex. there's censorship of a book that was written by someone who also writes for the wall street journal, abigail shrie. r and matt tyebe, at the rolling stone, has written about this on substack but she had a book censored. and just when does it stop?
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it seems like they're all in cahoots with one another. the large, traditional media companies and big tech. maria: yeah, it's the reason that i started dropping all my scoops on parler versus twitter. the other day, i had president trump on the show, first interview since the election. all i did was promote the interview on instagram, dagen, and my friend tried to forward it and look what she got. they actually skean soared and -- censored and put a disclaimer and black screen on top of my promo of president trump because they just didn't want me to promo it. you mentioned the new york times and the hunter biden story. where are the mea culpas from twitter. we know the hunter biden story is real, we knew it from the beginning on fox business. but we are getting the confirmation. twitter took it upon itself to say we're not going to show this and we're going to censor it, we're going to shut down the new york post's account. cabot dagen: it's really incredible
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that it's -- and what's -- the left used to be in favor of, well, freedom of speech, didn't they? but now this is the liberal left trying to silence half the country or more and if they think that this doesn't have at least slap back or boomerang on them at some point, they're delusional. maria: yeah. so throw away free speech as well. first they threw away the idea that you can get wiretapped being an innocent person, innocent until proven guilty. forget it, it's trump. let's throw that out. now they're throwing away free speech. it's absolutely outrageous and every american should be concerned about that. dagen: this is what matt tyebi tweeted. increasingly concentrated digital media has reversed the geography of speech controversies. instead of small town school boards, campaigns against books now begin in universities,
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newsrooms and the offices of companies like amazon and google. google and amazon are the two most powerful corporations in america. and if they want to shut you down and put you out of business, they can and they will. maria: yep. 230, section 230, we're watching that because it is likely going away. these companies will not have this protection, liability protection for the long term in my view. quick break and then we're going inside the paycheck protection program, u.s. small business administrator is here on what's true and not true about the ppp loans. you'll want to hear this. it's next. and then google's top trends, what people were searching for during a year unlike any other. it's making a buzz this morning. you're watching "mornings with maria" live on fox business. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology
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let's take a look at markets this mornings 7:33 a.m. on the east coast. we're looking at a mixed story at the opening of trading this morning, the dow industrials have turned negative now, down about 24 points. the nasdaq is the worst performing, down 73 right now, about two-thirds of 1%. the s&p 500 weaker by 9, after all three major indices finished in the red yesterday as well. investors reacting to stalled stimulus talks on capitol hill, as well as the new lockdowns, dow industrials were down 105t nasdaq yesterday, sharp selloff, almost 2%, down 244 points at the close on wall street yesterday. european markets meanwhile are higher, they are waiting on the european central bank expected to roll out another stimulus package today. we are awaiting the central bank's decision on interest rates, coming out any minute now. just looking at the dax index, that has reversed course. it's now negative, down 22. the ft100 us higher by 23, the cac is up 3 points. we'll likely hear from the
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president of the ecb, talking about new stimulus coming to europe. in asia markets were mostly lower. fractional moves across the board as you can see. and then there's this, disney super charging its streaming platform. cheryl casone with those details now. cheryl. cheryl: in a four hour investor meeting yesterday, the house of the mouse outlining its plans for the upcoming movie releases. some of which will go to theaters, others including by knock yow will go -- pinocchio will go to disney plus. disney plus has at least 74 million subscribers worldwide right now. take a look at the stock in the premarket, disney is moving higher, about a quarter percent right now. actually, that's at&t. never mind. at&t's my next story, that's how that stock is doing. at&t we told you last hour they were selling crunchy roll. but they're also taking bids for direct tv at more than $15 billion. that includes debt. top bidders include churchill
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capitol group and apollo global management. they they submitted a bid below the $15 billion mark. the option is in the late stages. a deal could be reached early next year. we showed you at&t in the premarket. let's talk about starbucks next. starbucks named investor melody hopson as the next chairwoman, making her among the most prominent black leaders of u.s. corporate boards. she will replace myron oldman, who is retiring in march. she has been on the coffee chain's board for the last 15 years, actually. let's take a look at starbucks in the premarket. the stock is up a little more than 3 and a quarter percent. finally, this. spacex's latest test of the star ship rocket ended in a fiery explosion. the suborbital launch meant to test gliding and landing capabilities took off yesterday after a scrubbed launch the day before. the spacex team called it a
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success, saying they got all of the data they needed all of the launch. the crash was named on low fuel pressure during the landing. those are some of your headlines. back to you. maria: all right, cheryl. thank you so much. paycheck protection in the united states, let's talk about it. small business administrator 1kwr5*u6. hillary5dadministrator outwith . this as the administration is tackling myths regarding the program and promoting the real help it provided to millions of americans during the pandemic. joining us right now is jovita carranza. thank you for joining us. tell us where the ppp program stands right now. >> good morning, maria. great to be on your show. and the ppp program as you know in august, exactly august 8th, the ppp program was closed.
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we have over $130 billion remaining in the fund and we're anxious for congress to be negligence other of yatesing another ppp -- negotiating another ppp program so our small businesses will be able to weather the storm. you know that the first ppp rollout really served as a lifeline to our 31 million small businesses and the 16 million employees they represent. maria: absolutely. and i think some of the myths happened because wall street wasn't sure who was getting how much money and what were the standards to receive the money. but let's go through some of these myths. you tell us why they're not true. the first one is that the paycheck protection program is filled with waste, fraud and abuse. jovita, what do you say? >> let's step back a minute maria and understand the intent of the ppp, the paycheck protection program, the
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president's paycheck protection program. it was to retain the employees at small businesses, employees and also to sustain small businesses. as we indicated earlier, they represent 16 million employees. it was essential to put this program up in six days which we did and leverage the lending community, which we did, all 5500 of them, to be able to disburse funds to the small businesses. you know, ther there -- they wen total demise, total shock with the covid pandemic and they needed support. so what we did was leverage the relationship with the lenders. we were enabling and facilitating delegation of very unique lenders, minority lenders, savings and loans, credit unions and as a result of that we were able to get to that employee through the small business and through the lender partnership the disbursements of those funds. so right now what we've done -- and we have had a system of
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oversight all along in the initial rollout of the ppp program. but we've augmented a system where we have a significant oversight. it's a three stage, it's an automated screening of the loans that we are processing, the forgiveness application as well as a manual review for select loans and then also a quality overview to make sure that there's consistency and compliance and the objective is to really maximize the integrity of the program. maria: yeah. i mean, one of the issues that was criticized was the fact that there were a lot of large companies that got money, jovita. you know that and some small companies that really needed the money weren't getting it. so i know this is one of the myths that you say you want to correct, that only large companies got this money but we know of a handful of situations where there were mistakes that companies got money and they certainly should not have. in fact, some of them actually gave the money back. >> yes, maria, we've spoken
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about that before. there were loan cancellations, there were also borrowers that initiated the loan application and that they withdraw, over $40 billion were returned to the paycheck protection program, enabling what we now have is over $130 billion in the fund. so let me tell you that no business, no zip code was compromised as it relates to a small business, was ignored or you avoided or ever refused. as you know, the small businesses apply through the lenders. the lenders made the loan and disbursed the funds. and we approve -- we're in the process of approving whether that particular business should receive the forgiveness funding. and so at this point we're going through the assessment process. but maria, of the small businesses or should i say of the ppp loans, the funds, 75% of
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those funds have been accepted by small businesses with less than nine employees. so this program is very successful and we feel very, very confident that small businesses were dealt with as well as large manufacturing companies. i have visited 21 states, maria, visited hundreds of small businesses. i visited with those employees that were retained. and in the eyes of the employees, they are -- they show gratitude and in the eyes of the small businesses, they have a sigh of relief. maria: which is your next point, that the ppp actually supported workers, jovita, because at the end of the day when a small business gets that in-flow of capital, obviously they're going to make a decision about employment. >> yes. as a matter of fact, when i met with many of the businesses, one of their concerns was that the
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particular unemployment benefits really precluded a lot of the employees of returning, but there were jobs available. many of the businesses i visited had to replace some of those employees and many have added employees. so the workers were protected. the president's objective as you know under the paycheck protection program was to retain employment and we accessed those employees through the businesses, whether they were small or medium sized businesses and the other approach was to make sure that the small businesses had liquidity through the partnerships that we had with the lenders. so the objectives and the focus, the laser focus was to retain those employees and their paychecks. which we accomplished. maria: all right. >> as a result of that, 345ly , that's why between may and october you realized 11.4 million employees that have been supported as a result of the paycheck protection program. we really attribute the
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significance of our -- success of our economy currently by the paycheck protection program. maria: it's a very good point in terms of the job spikes that we saw and of course the amount of stimulus thrown at the problem has been significant and the reason that we're seeing growth again. jovita, it's good to see you this morning of, thank you so much. check out jovita's op-ed on fox news.com, stay with us for a fox business exclusive coming up, papa john's pizza founder and former ceo john schnatter is here on the investigation which clears him of any racial bias during his time at the company. it was a tough time for him. he's going to come and discuss it with us next. stay with us. these days, we want sophisticated but simple. cutting edge made user friendly. in other words, we want a hybrid. and so do retailers. which is why they're going hybrid, with ibm. a hybrid cloud approach with watson ai helps manage supply chains while predicting demands with ease. from retail to healthcare,
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maria: welcome back. clearing his name, back in 2017 the founder of papa john's, john schnatter, stepped down as ceo of his company, the company he built, after making comments about nfl players' national anthem protests. a year later, he left his chairman after using a racial slur during a media training session, we were told. last year, schnatter's attorneys commissioned an investigation into these events and earlier this week released the results. here they are. former fbi director's report clears schnatter entirely of any racial bias saying his comments were construed incorrectly and inaccurately by the media. he shortness of breat corroborah
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african-americans and personal experiences and reputation. joining me now is the founder and former ceo and chairman of papa john's pizza, john schnatter. it's great to have you back with me on the program. while you've got to be feeling some vindication here, i know we talked during this entire spectacle after your call and after the calls for you to step down, tell me what took place. >> well, we did a report with lieu owlouie, an investigation, something that should have been done long ago and the report pretty well exonerated me of anything to deal with racism. i'm very thankful for that. i'm very pleased with that. it's a beautiful day. maria: so you made a remark on that call and the media react ad immediately. why do you say the media was the one to really put a spotlight on
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that comment and create this notion that you were racist? >> well, i think the fact that the company obviously wanted me out of the company and as a result they kind of set me up with all this. some of the board of directors and service set me up. they took it to forbes, reversed exactly what i said, forbes put out a false headline and the rest of the media in director frres' report, media fran. >> i, ran -- frenzi ran with the report and it was untruthful. maria: why did the company want you out? >> i think part of the directors went with the cancel culture. they panicked. they over-reacted. i think several directors violated their duty and had their self interest involved and wanted me out of the company for self interest reasons. maria: so it's another instance
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where we see an innocent person making a remark and the media running with it, following this cancel culture, and you're the guy handing -- holding the bag, having to deal with the impact. >> exactly. again, the great thing about director's report is it completely exonerates me and puts into focus that all the problems that the company has caused for the franchisees and for the employees was caused by the board of directors of papa john's international, not john schnatter. maria: i want to ask you about what it caused and get a sense of how this impacted your life, john. stay with us. we'll take a short break and continue talking this morning with john schnatter from papa john's. stay with us what if i sleep hot? ...or cold?
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maria: welcome back. we are back with john schnatter, the founder of papa john's. you know, john, we pride ourselves on this program with making sure to stand up for what's right. that's what we've done with the media's treatment of a sitting president, president trump. failing to ignore his accomplishments. that's what we've done with carlos ghosn who was set up. that's what we've done with michael taylor, who is sitting in a jail cell because he helped carlos ghosn and now he's being threatened to be sent back to japan. i want to ask you about your story. you say you were set up. what was the set-up? >> the set-up was how do we get him to say something or do something and tape it and misconstrue it and paint him as a racist. maria, as we talked about on your first show, the only way to get rid of papa john's in papa john's pizza is to play the race card and they played it to the hilt. maria: unbelieveable. and you came on the program in
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the middle of the crisis and that's really was we wanted to talk about and you told our viewers the truth, what had taken place. do you feel this is behind you now and you can get onto other things? what are those things? are you going to be investing or buying up a new restaurant? or new ventures? >> absolutely. we're involved with a lot of things. some of my days i go how did i have time to run papa john's. i've got a lot of irons in the fire, a lot of great people. i think we're going to have a great future with some of these endeavors and i'm really excited about it and all of this forces you to do, maria, is adversity strips away the nonessentials and forces you to go back to the broom closet. your fundamental principles, what you believe in and what you want to stand up for and never give up and that persistence and at thiskey to get through sometf that.
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the freeh report exonerates me. i'm excited about my future. maria: and you have a right to have your voice like any other freedom-loving american. john schnatter, thank you very much for joining us this morning. we will be watching the developments. we've got betsy devos coming up. ♪ (teen) mom... it happened again. (vo) add some thrill to your wish list. at the season of audi sales event.
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. maria: we'll we'll good thursday morning. thanks for joining us. i'm maria bartiromo. thursday, december 10, top stories right now at 8:00 cam on the east coast, we have breaking news from the ecb we will get to, plus, breaking news, and bombshell news surrounding hunter biden ad valorem vice president's season relieving under a federal investigation, related to business dealings, in china. while his father was a silting vice president. we are following this all morning long, coming up, and facebook in the hot seat this morning 48 states and territories plus you the federal trade commission filing a new antitrust lawsuit
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against facebook, saying the company should be forced to sell instagram and whatsapp stock down about one percent, the fight for a free and fair election, is deepening 18 states, banding together to follow texas's supreme court lawsuit, suing four swaipg states over changes, to voting of american sis president trump says he he will also join in a case texas attorney general, ken paxton is here, leading he the charge we will join me live at 8:30 a.m. eastern this morning, markets meanwhile, like this we have breaking news from european central bank take a look at futures negative across the board. dow industrials now down 12, the nasdaq is down 71, the s&p 500, lower by nine points after three major indices in the red lawmaker squabbling over negotiations passing one week extension to fund the
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government runs out of money friday, nasdaq down 244 points yesterday, about 2%, the big business of sports betting i will speak with ceo of draftkings about rolling with changes, to the sports landscape in a year where everything changed "mornings with maria" is live right now. maria: let's check european markets here we are, looking at some changes, it bes ft 100 back in positive territory, up 24, the cac quarante up 3. the dax is negative by 23. just moments ago we had the breaking news out of union central bank ecb will take more action to help the economy increasing bond-buying program by 500 billion euros to 1.85 trillion euros the market was expecting additional stimulus plan announced at the meeting that is what we're getting in asia overnight markets mostly lower here just fractional movers pretty much across the board.
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the student debate debate continues chuck schumer pushing for the next administration, to cancel billions student loan extent. >> student debt is a huge burden on shoulders of millions new york students and tens of millions americans. we have come to the conclusion us that the president biden can undo this debt, can forgive 50,000 dollars debt, first day he becomes president. you don't need congress. all you need is a flick of a penn. >> joe biden cool youed for for giving 10,000 dollars for eligible borrow rs joining me u.s. education secretary, betsy devos, great to have you this morning thanks very much for joining us, trying to get this straight, if -- if the
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government is going to forgive student debate what about the rest of us had twoed on three jobs during school, to pay for school, are and, you know, those people did not have to have a lot of debt because they paid for their school as they were working three jobs while taking courses. what happens to that money? those people who don't get forgiveness. >> exactly, and this is the fundamental question i empathize with students who have taken on more debt, than they should have. and we have actually developed a number of tools for them to use want to talk about that in a maintain you absolutely nailed the point, that to ask taxpayers two out of three of whom have not gone to college, to help under wright forgiveness of those one in three that have, is fundamentally unfair. not to mention, all the students who have shopped for value saved worked, paid down
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student loans and have satisfied their debt, to then be he asked to under wright the write-off of other student loans, fundamentally in fair we've got to refocus this whole discussion, around colleges providing value for what they offer students giving tools to make good decisions some of the stuff we've taken to improve data available on college scorecards a student can go there compare programs at different schools how much it is going to cost, importantly, how much they are likely to earn, based on real data, in the first two years after they graduate. and so giving students more information and more tools, is going to help make better decisions and for students of that debt today there are many different repayment plans, that they can being avail themselves of. maria: i mean, that is right.
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and i guess it was secretary pompeo who did op-ed about this, not about education, but about americans ininalienable rights life, liberty pursuit of happiness what our rights are when did it become a right for people to get free college free housing free food free everything and how do you pay for this as a country. >> well the notion of free college, is a horrible idea period. because we know that anything that is free, becomes a automatically rationed it is a form of socialism america higher education system the envy of the world. the last thing we want to do is socialize higher education devalue everything higher education has to offer we know what will happen if free college becomes a reality it is a bad idea, instead, we
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have to refocus on value for what you are pursuing. maria: well, i want to get to the school closings because we have a lot of parents watching this program, right now, and they are at home, because their kids are at home they can't work. covid cases in the united states surpassing 15 million more cities, states, pushed for new lock doens say if at home orders many going to virtual learning in effort to stop spread as of november 30, 11 states district of columbia kapuerto rico have stay or parring in effect you said colleges envy of the world grammar schools are nort i think you would agree when you look at china other countries, they are ahead of us, and now our students are getting left behind again. because they are only learning through virtual, what is the answer here? and will we see our kids get
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back to school? i want to get your take on what their losing here, and how much income they are going to leave on the table because of this learning disadvantage the answer get kids back in school in person something president has been calling for as months as have i, and others the american xhee pediatrics late this spreerng said that best place for kids feedback is in school there is no excuse the only reason, kids are not back to school, in person, in too many i places because teaches unions have been standing in the way playing politics, with children's lives, kids are suffering across the country falling farther and faltering behind the ones most hurt are the ones who are most vulnerable, children with disabilities, children from low-income families, those are the ones who we profess to want to be able to help and ensure that they have equal opportunity and, yet, they are the ones that are suffering
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most. because their families don't have alternatives, it is a crime, and it has to change, we have got to empower parents to make those decisions for children the schools systems they are part of simply are not cutting it. >> this is very disturbing, and fits into what we're talking about, all morning, and that is how chinese communist party unleased horrific virus on the world and in doing so has scrambled the way we operate, has changed the way we vote, which arguably was unlawful and unconstitutional and also has scrambled the way we send kids to school while chinese students are winning, schools across america are reporting a surge in failing grades, amid this pandemic some districts seeing failure rates doubling, i tripling give assessment what with a students are
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losing how much income did they potentially lose in future years, talking about future income being left on the table, as a result of this? because we know, that china wants to be the number one superpower in the world overtake america doing a darned good job of it, just by hurling this virus at us you causing chaos and causing us to go against constitutional rights. >> there has been early data demonstrating that overall loss of you lifetime earnings is substantial, and growing, for every day that a child is not in school, or not learning, their long-term prospects look dimmer and dimmer. we know today again based on recent data that there are over three million children that are not even attending remote learning today, this is -- this is a -- a problem that is compounding daily, there is
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no excuse not having kids in full time so all chin can continue to develop one hundred percent our future we are failing them too many cases today. >> we certainly are i agree with that yet speaker pelosi wants money for school districts says we need money to open the schools, what are we paying for exactly secretary? are we paying the salaries of unionized teaches so should he stay home while kids are learning from home. >> that is a good request are we sending money to schools not open i would argue the thing we should be doing is sending those resources to families, so that they can find the right outlet for their children they can find a school that is going to be, the answer, they could group homeschoolers homeschool children whatever the answer
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is for them empowering families with resources not systems that in too many cases are simply not even open and operating. again, this is an issue, that the pandemic has laid bare our ku. 12 education system has been dysfunctional broken for many students for many years now is the time to change empower families to make the decisions for their children. >> that is right let me ask you this, secretary before you go, final question, a word on charter schools, because one of the reasons that president trump got such a record -- a record outpouring from black and hispanic community was his position on schools. and that community saying we all want the best school for our kids, why is it that the democrats say you can't have charter schools you can't you can, we are arguing over,
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whether or not chart schools are good when in fact we have seen performance already. >> parents want choices school choice is the answer, and it is imperative families get empowered to make those choices. >> secretary good to have you on the program this morning. thank you so much we covered a lot we appreciate your same secretary betsy devos joining us a wreak fighting for the constitution texas attorney general ken paxton is here to talk about the texas lawsuit questioning he the constitutionality of changing the way we vote in four states 90 days before the election, covid, robot to terminate coronavirus making a buzz joining the conversation all morning long dagen mcdowell, mark tepper going to get back to them in a few moments when we come back you are watching "mornings with maria" live on fox business. ♪ ♪ baby, baby ♪ ♪ i know we only met ♪
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chinese foreign ministry announcing they will target white house officials members of congress along with immediate families they also plan to revoke visa free access to hong kong and macau for u.s. passport holders after u.s. sanctioned 14 members monday amid rising concerns about beijing actions toward hong kong we know dagen mcdowell no secret, what the chinese communist party has done. and now they think that they are going to target, congress and white house individuals they want to target those people who are against the ccp with senator cotton senator marco rubio among others want to encourage cozy up to congressmen and congresswoman who support favorable laws to china. dagen: right also as we found out but theoretic swalwell
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story, that china is sending honey traps targeting political officials to infiltrate their operations if you will, i think some might have to do with -- to ask the question follow the developments in coming weeks what if china tried to do how is china trying to test joe biden. and the people in his incoming administration that is assuming whatever happened with the court cases, but we have to keep a close eye because this is a a test, is it not? and we know, now even more, about the investigation of hunter biden, by the way, i want to point out i think james roseanne former colleague of ours broke that story in october. it got no coverage; right? he broke justice department official con if you remembered you remember in 2019 fbi opened criminal investigation into hunter biden and
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associates focused he on allegations of money laundering totally ignored, because there was an election coming up. maria: are unbelievable, and more than just ignored as you mentioned earlier, twitter decided to just stomp out "new york post" twitter handle close twitter handle refused to report anything or allow the reporting or the coverage of anything surrounding hunter biden, i have been asking the question will the chinese communist party use that that hunter biden the laptop as leverage to blackmail joe biden, into passing laws or executive orders that favor china, it is no secret mark tepper the chinese communist party wants to return china to the number one superpower of the world, and that means economically technologically militarily they already have largest navy building military to overtake united states as number one sur power whole
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world should be worried about this having community country being dominant player on the world stage. >> this they've made it very clear they want to be superpower not a secret, in president trump did a great job standing touch them obviously, right now they are retaliating against all of trump does it make sense for us as a country to help china accomplish that if they want to accomplish that they have to do it solo we need to focus on america first >>. maria: the wall streets executives have not gotten the memo they are attempting to make money selling to 1.4 billion chinese consumers why they are all in helping china to grow and expand, we are taking a look at chinese threat on college campuses as well here with secretary of state mike pompeo had to say
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the we have to find just nosomething else.it. good luck! what does that mean? we are doomed. [laughter] that's it. i figured it out! we're going to give togetherness. that sounds dumb. we're going to take all those family moments and package them. hmm. [laughing] that works. introducing the new sleep number 360 smart bed. now temperature balancing, so you can sleep better together.
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can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable can it help with snoring? i've never heard snoring. exactly. no problem. and... done. so you can really promise better sleep? not promise. prove. and now, save up to $700 on new sleep number 360 smart beds. plus, 0% interest for 48 months on all smart beds. only for a limited time. . maria: welcome back, the chinese threat on college campuses secretary of state mike pompeo beginning of a warning about danger china poses to security and free he speech in american higher education. >> americans must know how the chinese chinese is poisoning the well of higher education institutions, for its own end, and how those actions degrade our freedoms in have american national security, if we don't educate ourselves if we are not honest about what is taking place, we will get
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schooled by beijing. maria: and we are getting schooled by beijing, in a big way mark tepper we talked a lot about the confucius centers, and the ability china chinese has had to insert their own lobbyists within university whether it be in confucius centers, or paying people identifying people at university level to send data back to the ccp, that is the story that we learned earlier this year. of the head of the chemistry department at harvard getting paid for send progress pry pro pry tarry dedicate from the harvard to ccp. >> ccp continue to send their students, to spy and professors to spy steal american i.t., and you know they are trying to gain influence in the democratic party by sending a lot of
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these students professors to more left-leaning colleges that teach more of this anti-american narrative, right? like we've already talked about look without a doubt i think both parties democrats and republicans can agree, that china is at the largest threat to national security, in the 21st century, while mostly economic and military focus, education matters too, and we would be foolish to ignore this we have to pay attention to it. the last thing i want to say here, maria let's remember that most of these chinese students they are not members of the ccp they are just normal people; right? so it is ccp that is really at fault here. maria: , of course. this is not about chinese people, this is about the chinese communist party, but ccp has used things like the 10,000 talents program, other programs that that u.s. has where it takes chinese students into the united states ccp exploited that to get people to send data back
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and get china a legislate up on america, we are fighting for the constitution on this program, we are going to talk about texas attorney general ken paxton coming up on the texas lawsuit that is arguing certain changes to the way we voted in this election were unconstitutional you are watching "mornings with maria" live on fox business. to all the businesses that helped us make it through 2020... thank you for going the extra mile... and for the extra pump of caramel. thank you for the good food... and the good karma. thank you for all the deliveries... especially this one. you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere, from all of us at comcast business.
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maria: welcome back, good thursday morning. thanks for joining us. i'm maria bartiromo, thursday, december 10, it is w8 am east an hour away from the opening bell, we are standing by, for initial jobless claims going to come out any second 725,000 americans expected to have filed for unemployment this week we are also getting the s consumer price next futures are lower going into numbers dow industrials down 24, nasdaq down 59 s&p 500 down 8 1/4 numbers hit the tape right to cheryl casone we go. cheryl: right, let's take a look first at initial claims this is coming, in if higher
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than we expected, i think this has to do with thanksgiving kind of a typically glitch labor defendant initial claims 853, expectation was only 725, this is the week endings dedz 5, again piece is thanksgiving holiday continuing claims, this is the week ending november 28 this is also coming in hotter than expected the estimate 5.335 million, we came in at 5.757 million for continuing claims again this is related to shutdowns related to more restrictions, increase in cases, as well, i want to go through look at the cpi, this is the course cpi number month-over-month for november came in no bottom line estimate .1% we came in .2%, send it back to you i want to give you quick the rest of the core cpi month over meppoo .2 worse than expected, cpi overover year
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1.2%, core, for november .2% expectation 11, core year-over-year cpi, of course, excluded food and energy came in one point -- one point six data at once got it all in sending it back to you. maria: all right. a little hotter than we would have liked on inflation data, a little more than we would have liked on unemployment benefits, still no real change to market this morning, in face of all this cheryl, thank you cheryl casone with economic data with dow industrials right now down about 25 points. let's talk about this election, and this major lawsuit in texas, one of the major legal stories following 18 states, including arizona late last night writing amicus brief in support of texas lautz attorney general ken paxton's supreme court suit calls upon the supreme court to throw out election results in georgia michigan, pennsylvania wisconsin
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president trump also announced that he will also personally join this, filing a motion, to intervene as well joining me right now to discuss the suit, is the attorney general himself, texas ag ken paxton mr. ag thanks very much for being here, good to have you, first explain the genesis of this suit. maria: so i think. >> the general gives came out the last 6 to 8 months texas we are defending against lawsuits, change our laws by judges by local officials whatever -- mail-in ballots related to signature verification won 12 lawsuits won them all protected our elections so we in texas didn't end up with same type of a situation that georgia wisconsin ended up with, but then seems my voters are now disfranchised in national election where other states didn't follow state law. >> in other words, you have a china virus unleashed on the
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world including america, that sowed chaos caused several states change if way we vote the director national intelligence john ratcliffe laid it out on "sunday morning futures" listen to this. >> here in the united states pandemic influenced a lot about how people voted, but also how they had to vote. as a result of the pandemic we saw state legislatures as little as 90 days before election adopting new voting procedures essentially we had universal mail-in balloting cross this country, in a way that we had about the seen before to that point, almost, 73% of the american people this year, voted before election day, a good percentage of those by mail, that is about an 80% increase over anything we have seen before. so, it -- little wonder we see what is happening around the you can result mail-in balloting all the questions, and the questions that are
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being raised, in lawsuits and by every day americans, about what happened in the election. maria: does that description encapsulate what you are referring to ag? >> yeah, i think it does, just that some states irrev rent state legislature changed rules okay they are allowed to do that the problem we have is states like pennsylvania wisconsin, where it wasn't uniform it was an under the constitution when you are doing a federal election it is up to state legislature to make the rules as it relates to statewide elections, in this case states had different rules in can i have counties favoring one of candidate over another we don't know now how credible those mail-in ballots were, one, there were so many the system overwhelmed, two, a lot of those states eliminated signature verification the only check you have on the are credibility of those ballots >> chills, unconstitutional,
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what is the timing on this when are you expecting to hear back from the supreme court. >> severe hopeful going to be quick we've got the court order response by -- states today i think 3:00 hoping moves quickly given elect torz are meeting on the 14th. >> do we know the supreme court will definitely take this up now you've got 18 states, joining your lawsuit, in the same argument does that make it more likely that the supreme court takes it up? or not? how do you know whether or not the supreme court will look at it? >> that is such a great question we are in unique position this is a state versus state lawsuit only place we can go is u.s. supreme court, that is the only sort of place we can have our harm heard, so, i think the supreme court should hear it they have discretionary review according to their own rules but if they don't hear our case there is i literally we can't about the file in
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district court so i am certainly hopeful given how important this issue is not just for this election, this -- this is about, how we are going to do future elections, is this allowed if it is may have different elections forever i think superimportant for supreme court to address this, because of the interest of the entire country. >> so what specifically are you asking from the supreme court? >> so unfortunately, you can't put genie back in the bottle in my state protected system as legislature set it up we didn't let gene out of the bottle we can verify results did it the way legislature intended, in other states where you have you know ballots that that came in, and you had some counties say you don't have to verify signatures, now the original signature that was filed application, when they filed ballots separated the ballot from signature you in a put on ballot there is no way to go back and look at 2.5 million
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ballots in pennsylvania to know whether fraud that o remedy is virtually impossible if not impossible we are asking the court put back in the hands of state legislature to fix their electors as done for years by certain state legislatures. >> what happens when you have states choosing their own elector. >> they choose whoever they want they go meet december 14 or at if court says later at a time go and meet, vote is as legislature intends them to swloet joe biden or donald trump. >> and, in terms of those electoral votes, that have already been talked about, as for joe biden, what happens to those electoral votes? are you asking to have those votes null and void from those states? >> o not null and void i am
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asking for a different process, given that the process occurred in states that a we see, is not credible there is no way to know whether any of those .5 million ballots in pennsylvania with legit could have all been or half of them we don't know we can't know what election result was so it is now up to the elected representatives of that state to pick their electors. >> and how were those people of texas, wronged in this? now the people of the other 18 states? >> so -- because we follow the constitutionals provisions for electing electors other states did not that my voters are now disfranchised because we faught so hard to follow state law make sure our elections were legitimate, these states changed all the rules, by people that didn't have authority to change the rules, by state law or by federal law. so that harm in a national
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election affects all of us not just for the presidential election even for some senate elections, because if the senate changes because of this, in georgia then, my state is affected. .z. >> exactly, and i have been saying that this is so he important, because this is the reason, that our young memo go and fight on battlefields across the world some cases lose lives they believe their vote matters as much as your vote matters as ag, if that is not true, we have a major problem, in america, not just for this presidential election but for future elections so have you trying to set precedent or underlying precedent for future elections. >> i think you just asked most important question made most important point about what we're trying to accomplish this is one election we can live with even if there was the wrong person being elected
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we can live with one time that happened what we want live with, that is i difficult enough. but we can't live with the future where we want trust elections and know right person is being elected, so whether when dob don or joe biden i want to make sure right person is elected based on what voters did in the country otherwise we can't trust, elections going forward a real problem for democracy. >> do you think you will hear from supreme court by the end of this week. >> i certainly think we will i am certainly hopeful i think they realized, as more states filed with us this is a monumental issue only they can address, literally true a fact only they can address this when we can't go to state court can't go to federal court we have one place, they have the responsibility per the constitutional, we are asking for them to hear the case. maria: all right.
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we will wait for those results, and see how the supreme court weighs in, on this incredibly important issue, for america. attorney general ken paxton thanks very much we will be watching the developments. >> thank you, maria tanks. >> we will see you soon the big business of sports betting i will talk about ceo of draftkings on rise of sports gaming durk the coronavirus some new partnerships don't miss it meet the covid nator robot, you are watching "mornings with maria" live on fox business. it of an issue with our neighbors fencing. neighbor 1: allez! (sound from wind chimes) neighbor 2: (laughing) at least geico makes bundling our home and car insurance easy. which helps us save even more. neighbor 2: hey, sarah, hey, peter! neighbor 1: touché. neighbor 2: ahhh! neighbor 1: pret! neighbor 2: en garde!
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maria: welcome back, we have breaking news from the president of the european central bank christine lagarde warning eurozone economy will likely kra in fourth quarter as coronavirus continues to pose serious risks we had announcement ecb will increase bond-buying program 500 billion euros to 1.58 trillion euros as you see the markets higher earlier, looks like the markets are reactoring, to her negative stance on where the eurozone is in terms of that contraction, in the fourth quarter we are getting back to betting on it as many casinos stay closed online sports betting a significant increase 25 states could have legal sports betdzing by end next year could be a boon for state revenue grady trimble in illinois this morning, with more on that grady good
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morning to you. >> of a good morning casinos closed in illinois people managing to wager a record amount in online sports breathing 305 million dollars bet in month of september alone, across the country americans legally wagered nearly 6 billion dollars in the third quarter amount bet up 48% in the first 10 months of 2020. this, of course, is an industry that is experiencing massive growth right now, and those in the industry expect states to capitalize on that, expanding online sports betting online casino gaming we spoke to chairman of rush street interactive operates sports both for rivers casino as well as various sports books in other states pointing out many states struggling to balance budgets might in my opinioned extra tax revenue from online gambling irresistible. >> more states considering if
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they don't have sports betting adding it if they need money there is talk about them potentially allowingto casino gambling online. >> illinois governor's office protects online gambling industry could pump as much as 100 million dollars into state coffers each year. >> thank you so much grady trimble with the latest there we just are looking at sports embeding is it during coronavirus pandemic, draftkings up 357%, very strong move for draftkings leader in the business joining me right now is ceo of draftkings jason robins, jason great to have you this morning thanks for joining us he, congrats on leadership role, access the situation for us, where do you see the growth coming from in sports betting let's call it the next three years. many. maria: well, first and
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foremost is you know we are hopefully will be many new states adopting legislation regulatory framework to bring this activity into a legal safe environment just this year launched three new states online sports betting -- december 30th last year launched two new states for igaming hopeful more states take action more population able to access draftkings sports betting. >> yeah i think this is a really important point, and people are wondering if in fact the expectations of the regulatory environment changing will in fact pan out. the bulls pointing to strong revenue as a guide in terms of relateive of better core market growth opportunity but then you've got skeptic i guess talking about, the --
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declining gross margins modest subsequently wager growth an issue in established market talking about limited upside is there a plan bto ensure that you can in fact see that growth take place, regardless of what is happening in the regulatory framework? >> absolutely i mean states we have been operating in longest new jersey, third nfl season growing triple digits overl year-over-year by no means slowing down even in states that launched even on the basis of states we have leached we have said we expect higher revenue next year than previously thought expect substantial growth i think any additional states take it from high growth to hyper growth but we are expecting 40 is mr. percent new growth in even abs of new states launching. >> draftkings announced this week that you made a deal with national predators to become
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the official daily fantasy sports sprooir in operator, tell me about that, because i think, this business is fairly sticky right, once a bettor decides on platform where they are going tooib often stay there a so-called quote/unquote sticky business right. >> that is right predators a great story captures hearts minds of the town we are expedited to be a part of this you are right a sticky product, i know you are among leaders you have competition at heels, entertainment increasing in fanduel do you see more a decision, and what about the competitors? >> ♪ it's a thirteen-hour flight, that's not a weekend trip.
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maria: welcome back. of them okay top of the morning buzz meet the covidnator a robot to fight the virus that upended the whole world, at northwest community hospital arlington heights in illinois meeting the robot named dorian, jeff? >> you don't want to get too close to dorian especially if you are coronavirus, because he will kill ya, the covidnator the light strike robot, and northwest community health care employing these before you had covid. >> we had two increased fleet by two when covid hit use in covid rooms that are segregated. >> we can't be. >> i had while on if we go ahead and open the door there it will turn off i just want
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to show maria what it looks like there it goes it is off it can hurt eyes if you look at it what am i looking at -- what does that do. >> ultraviolet light so bright it breaks down the pathogens, dna can't reproduce. >> special does this and more powerful fashion. >> correct, correct, and the path jen can't reproduce rendered useless call it dorian this is -- all they consider this part of team health care and covid fighting team. these are deployed around the country in fact all around the world, maria. gentleman that is great that is a robot i want to see more of. jeff thank you so much jeff flock, more "mornings with maria" right after this live on fox business. reliable. reliable. we want both -
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maria: think you, dagen mcdowell and mark. great to see you this morning have a wonderful day and we will be waiting for any answers from the supreme court today on the texas lawsuit. this is a big one. we will talk about it more tomorrow. "varney & co." is up next. take it away, stu. stuart: good morning. it all comes together today, vaccine approval, a huge ipo in the creation of new billionaires as they are all linked. right about now the fda needs to consider emergency approval of pfizer's vaccine and if it is go at inoculation again, 20 million could be protected in the next three weeks. a half hour from now airbnb offers a shares to the public for the first time with another opportunity to invest in a new industry. it's a 12-year old company now what worked and $40 vaccines, ipos, what brings them together?
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