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tv   The Intelligence Report With Trish Regan  FOX Business  February 11, 2016 2:00pm-3:01pm EST

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cold? >> it is pretty cold. neil: you had a chance to look out there, coats, anything like that, observation? >> coats. hands in pockets. neil: looking away from the window. how do you know? okay. thank you. that's latest from meteorologist matt. thank you, matt. trish regan here is how we treat our meteorologists on the show. trish: matt is making me cold looking at him. thanks so much, neil. breaking, everyone, major selloff underway on wall street. look at dow, off 340 points. you know what? the fed has nothing it can do to fix it. that is what is motivating this. we watch oil see a lot of volatility. dow jones industrial average off more than 2%. s&p off nearly 2%. nasdaq composite index off 1%. we're all over this. we're going in asking questions why markets are this challenged right now. we got the guy who has been
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pretty negative on this for quite some time. legendary investor mark faber. that is coming up. i am trish regan. welcome to "the intelligence report." back here from new hampshire in new york. gop candidates are stumping in south carolina. we're nine days away from the primary. marco rubio is licking his wounds from the saturday's debate. he is going on offense attacking donald trump. >> donald trump has zero foreign policy experience. negotiating hotel deal in another country is not foreign policy experience. trish: jeb bush, pulling in whole big family. so much for just jeb. moments ago, his brother, former president george w. bush announced he will be hitting the campaign trail too. jeb, his mom, now his brother. it is bush family affair. also breaking this hour, the state department ordering release of hillary clinton's e-mails by the end of the month. this comes as she is even more trouble. fox has learned exclusively her
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top aides were handling top secret info to secretive to be released and they were handling this through their personal email accounts. what does this mean for the frontrunner, as her opponent sanderss rides high and will her staff face potential indictments as well? we have all that covered. i first want to get back to the selloff. we look at near lowses of the session. off 351. i'm joined on set, jonas max ferris. ashley webster live on floor of new york stock exchange. ashley no war to hide except what? gold? >> gold, treasurys, trish. gold is up 54 bucks. up as much as 60 or more this morning. that tells you something. one od assets. treasury down to 1.60%.
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that is most scariest thing of all. it is not 2008 everyone tells me but sure feels like it of the global malaise beginning in china. we have concerns about the european financial sector. concerns how healthy it is. we have record low oil prices. we have economy here in the u.s. which is not exactly gangbusters. you put it all together, earnings have not been that great. outlook is weaker. you have the fed by all accounts, if you ask anyone around me here, they are clueless and out of arrows to do anything about it. then janet yellen yesterday goes to a house committee, says, i'm not so sure negative rates are legal. today she says negative rates are not off the table just by saying that. it adds another layer of anxiousness to market already skiddish. trish: understandably, ashley. people are worried she doesn't really fully grasp how difficult things are right now. the fact that she would move rates higher and they are somewhat of a dovish fed and she
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is certainly a dove had a lot of people scratching their heads early on. i want to go to jonas for a moment to talk about this is something more than just a market selloff. the fear is, right, this is some kind of systemic problem and selling will beget more selling. you have problems in the credit market? what is your take on that? >> that is definitely the fear that it is spreading in contagion fashion. not, china fell in their demand for commodities fell, the order of things was commodities started to fall first and hardest. trish: yes. >> then energy stocks and natural resource stocks. then all of sudden their debt became major distressed's set. now banks who lend money to energy companies to drill, pump pipelines, all the projects mothballed and shut down and defaults. not the spread -- trish: how exposed are the banks in your view? >> they are not as exposed banks were to mortgage debt. not that level of crisis but that spiral i'm describe something very similar how it start in subprime.
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all of sudden commercial mortgage debt and bank hand crowds, our banks are down. one of the worst sectors to be in. they have stronger balance sheets for variety of reasons. trish: they had to, right. >> they have only 5, 6% of their -- they can take the hit. doesn't mean you won't get panic selling. even negative quarter percent interest rate, giving people money to buy fuel. trish: not going to fix it. you're absolutely right. you're absolutely right. jonas, good to see you. ashley i will check in with you in a short while again. the question is today's selloff start of something deeper, something really a credit crisis of sorts as jonas referred to of the marc faber publisher of the boom gloom and doom reports, warning of a bubble for some time. he said we never got through 08. marc, good to see you, we never got to talk to you. how are you? >> i'm good.
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trish: markets not so good off 360 points on the dow. >> yes. trish: what is going on here in your view? >> well, it could be worst in the markets because i lived through the '87 crash during which stocks dropped 21% in one day. so what did we see here is just a mere appetizer of something larger. trish: appetizer. this is an appetizer of something bigger in your view. i mean don't forget, '87 we managed to recuperate pretty well. we didn't get the hangover we've had going on really since 2008. why is it, and before i actually say why is it, people are talking about a systemic crisis here, a debt crisis. debt crisis are far more difficult than an equities crisis to combat. do you think that's what we're in right now? >> well my sense is that many policies that were implemented in the particularly zero
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interest rates and the more recently negative interest rates are rather negative for asset markets than positive. they create a lot of uncertainty in investors minds. we have the statistics on all the countries that have introduced negative interest rates. and in all these countries actually, the savings rate went up. because if you tell me before, i have 6% interest on my deposit, and now i have to pay something to have the deposits with the banks, then i feel very insecure and therefore i may say it's more, rather than spend. so these policies may be actually counterproductive and as was just mentioned before, they are negative for banks earnings. trish: so you blame the fed? >> i'm not blaming only the fed. i'm blaming the fed, the bank of
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japan and ecb. trish: central banks. >> they basically talk to each other every day. they coordinate monetary policies and they come from the same neoconcerns sy ton interventionist culture to he believe they can do somethg for last 5000 years of recorded human history since the time of babylon we never had negative interest rates because the natural markets, i'll tell you, you can have today $100,000 or in five years $100,000, you will take the $100,000 today because you can use them for five years. trish: so -- >> to introduce negative interest rates -- trish: in your view, to help the viewers understand, not as though the central banks are basically not trying to ignore
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human instincts and in doing so have created a whole alternative set of problems, are these big problems? >> the central banks remind me of the movie, one flew over the cuckoo's nest where the doctors are the insane. where as the inmates are actually quite common people with common sense and normal. this is exactly what i think is happening today. trish: so where do we go from here? market is off 340 points. a lot of trepidation, a lot of volatility there, does that continue? >> my sense is that the markets has been weak for a year now. the average stock on the new york stock exchange is down 25%. and the markets near term is becoming a very oversold. we may still go somewhat he lower. but i would wait for a rebound
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to sell short or to sell my holdings. i think a rebound is over due. we get a spring rally, no new highs. and probably the worsening economic outlook. the stock market is telling you a recession is already here. trish: really? do you believe it's here? >> i beg your pardon? trish: do you believe it's here? >> i believe that the global economy is in recession already, yes. and i believe that political background in the u.s. is also going to create a lot of uncertainty. trish: yeah. >> because the two leading candidates are outside of the political establishment, bernie sanders and donald trump. and that may create further tensions within the financial service industry. trish: yeah. all right. well, on that note we'll turn to politics. marc faber, always good to talk to you, sir.
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it is not so often i get someone who can make the comparison between ""one flew over the cuckoo's nest"" and market. thank you. >> thank you. >> nine days to go before the next primary. this could be the one that cements the donald trump as nominee on republican ticket. he is tapping into this news curve, hitting hard on issues that voters consistently care about the most. big issue right now, the economy. accoan anyone in washington would let us believe. >> so you're reporting on the jobs numbers which are phony numbers because they were put up by politicians in order to look good. they don't talk about you will at people who can't find jobs. which are people unemployed. that is called unemployment. if you add up all the people that have looked for jobs and can not find them and now have given up looking, you're talking about a employment rate that could be as high as 25%. it is incredible. trish: hmmm. joining me right now republican
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strategist ford o'connell and democratic strategist chuck rocha. i bet both of you guys agree donald trump is on to something here, that unemployment is much worse than the 4.9% we hear about? chuck? >> well i would say he tapped into the frustration in america, that's for sure. that is why he won election in new hampshire, come in second in iowa. all polls show him ahead in all super tuesday states. lots of people out there, democrats, republicans, independents who feel frustration and donald trump i would even go as far as bernie sanders tapped into that. tapped into that frustration. people feel like now they have a an outlet. not the status quo and politician. they are liking him a lot. trish: do we think a poor economy actually plays straight into his hands, chuck? >> i do. i do think it plays in. i -- anytime people are frustrated and anytime people have not seen real wage growth in 20 years that's where it all stems from. trish: ford, you know, it is interesting because both these candidates, both the outsiders,
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bernie sanders and donald trump, they're both hitting on this economic issue. and we've seen from just all the poll data comes out that this is what matters to people right now. think want to feel secure in their economic futures and they just don't. so does this mean we could see potentially a donald trump, bernie sanders, kind of run? >> well you may very well see a donald trump nomination because honestly if field doesn't get any thinner he will win nomination with plurality of votes especially getting momentum in evangelical states coming up like south carolina but understand with bernie sanders. bernie sanders is never going to see the nomination because of the way the delegates are set up on the democratic side. the fix is in. frankly you know what? bernie sanders voters should stop feeling the bern. guess what they should do pay attention to the rules. because the fix is in and nothing democratic about the democratic party. to your point, one more thing, trish, previous guest said markets are scared about sanders
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and trump. guess what trumps want to do? he said if i become the nominee i will bring in somebody with political experience. i think that may well calm it down. i've been bullish on trump. trish: said that to neil cavuto. let's watch. play a quick clip. i want to show you something else. there you go. >> i'm not even you know, discussing it with you because you're asking to discuss it, because number one i want to win and after i win i can think about this because there are some really, really good people we know. i would think because of the fact while i'm very political i'm not a politician i would want to choose a politician. trish: he would want to choose a politician. here he is in new hampshire just the other day getting introduced by senator scott brown. watch this. >> vice president. hey. that sound like, hey, hey. [cheering] sounds good. you know what? he is central casting. look at that guy, central casting.
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trish: talking about scott brown being run out of central casting. i asked senator would you consider it? we haven't talked about that yet. anyway, who would be on the short list? ford, who could he benefit from? >> actually two people he could benefit from, one is florida senator marco rubio. tough win florida if you want to win white house. he has problem with hispanics. frankly you need marco rubio to take on univision jorge ramos. number two person, no trick, ohio governor john kasich. 18 years in the congress and two terms as governor, second most important state. i think britten out for -- written out for trump should he win the nomination. trish: john kasich, would that be something you advise him to be considering, chuck, if you were republican consultant today? >> if i was republican consultant my grandma come get me up out of the grave to be honest. if i was going to do this, ford brings up great point, call electoral college. if you have ohio or florida in
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your back pocket playing with people's money. you have times. you got things you can do. looking at strategy where to be at. at end about electoral college. only 15 state really in play. i call this biden effect. same thing happened with one barack obama. because he hadn't been in washington very long. bottom old gray hair to help him out who knew where bodies are buried. that is where uncle joe come. he needs somebody who knows his way around. >> i totally agree. unless there is recession, major war only seven states in play. donald trump wants to be next president of the united states. win, florida, ohio, virginia. really that simple. if democrats win any of those. republican out of the white house. >> i like when republican makes my point. trish: ford, chuck, appreciate it. everyone, market still off 344 points. we'll continue our coverage of that as people debate the r-term, recession. we have learned today, the number of sexual assaults on women in germany primarily by
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migrants, quadrupled during the country's carnival. now germany is tightening its border control. is european culture committing suicide by allowing in more than a million refugees? what does that mean for us? that's next. you both have a
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switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. trish: see we're off lows of the session but just barely. the market getting hammered off 375 points. we heard earlier in the show from famed market investor marc faber is usually negative but especially negative comparing this market to "one flew over the cuckoo's nest." that is this appetizer of more concerns to come. global recession, fears that
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central banks around the world basically have. negative rates. fears janet yellen doesn't quite know what she has gotten herself into. turn to another story. germany clamping down on borders for next three months due to high numbers of refugee arrival. decision comes one day after cologne police announced sexual assault complaints quadrupled in the carnival. they actually had to have safe zones for women. staffed with social workers and psychiatrists this is all in reaction to the roughly thousand sexual assaults that took place in germany on new year's eve. police have not released any information yet as to how many of these crimes were committed by migrants but the increase in sexual violence comes as europe is in the midst of a very dangerous culture clash due to the influx of migrants.
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it is raising a whole amount of concerns what could happen here when president obama fulfills his vow allowing 10,000 refugees into the united states this year? long time national security analyst and fox contributor judith miller joins me on set with more. nights to see you -- nice to see you. this is remarkable. this entire story is so disturbing that women in europe can no longer go outside their doors with confidence and feel like they can, you know he, walk home with their girlfriends at night for fear of assault by these migrants. that is what is has come to? >> especially in cologne which had such influx of these refugees. germany is trying to divide up refugees and migrants so they're not concentrated in one place. with you have 2 to 3,000 people arriving every day in europe and when you accepted 1.1 million as germany did last year, which
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makes them the largest recipient of such people, yes you will have cultural clashes in a country whose population is 80 million and dropping in terms of actual german citizens. trish: i showed these pamphlets over and over again on the air. i want to show them. >> right. trish: this is startling to think what you hand out to the migrants and discourage the men who culturally think it is okay if girl is there in short skirt and bikini you can just grab her. how do you combat this, judy, when psychologically they think, well, sure, why not? >> well he they have to become germans. they have to accept germans. now the germans during carnival have a tray digs which is basically -- tradition basically is kissing a woman on the cheek. pamphlets they printerred up in german, arabic, by the way this
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is consensual process. the woman has to agree to be kissed on the cheek. otherwise you can't do it. otherwise, no is no. this level of education and cultural assimulation has to occur. otherwise you have clashes and terrible political ramifications as well. trish: angela merkel i think her future is going to be doomed about this. we're not talking about economic consequences of this and how taxpayers fund refugee populations amid all challenges germany is facing economically. just knowing that the women there aren't safe, what was she thinking? 1.1 million refugees. >> what she is thinking as an east german, someone raised in a communist system, as someone who is very aware of germany's past, its fascist past, its nazi past, history of intolerance, germany has historic obligation to bend over backwards to be welcoming of people in distress. that is what she's thinking. unfortunately politically, it is
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playing very badly for her. that's why in cologne they made sure this year there were 2500 cops out on the streets. trish: still didn't help. >> still didn't help. trish: sexual assaults quadrupling. >> exactly. trish: judy, thank you very much. >> thank you, trish. trish: quick check on pandora. the stock was halted and reopened. trading up fairly big at 6%, a whopping 53 cents. chatter of a sale potentially for pandora. we'll have more on this after the break. plus, hillary clinton and those darn emails. turns out some of her staff actually may have been emailing back and forth from their personal accounts top secret information too. we have more coming up after this.
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at ally bank, no branches equals great rates. it's a fact. kind of like social media equals anti-social. hey guys, i want you to meet my fiancée, denise. hey. good to meet you dennis.
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at ally bank, no branches equals great rates. it's a fact. kind of like grandkids equals free tech support. oh, look at you, so great to see you! none of this works. come on in. trish: okay. just before we went to break, we talked about pandora which had been halted, the largest music streaming service out there. it has since reopened and trading up big, there's talk of maybe pandora selling itself. ashley webster on floor of the
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nyse with more. >> reporter: yeah, this is interesting, it was halted for about five minutes while the news was digested, apparently morgan stanley helping the company to attract some buyers although they say there may not be a buyer out there. it's interesting, this is a company that peaked with about 81.5 million listeners or customers, users, whatever you want to call them, back in 2014. that number has started to drop. the company has been forced to spend a lot of money to try and attract new users, and that is not cheap. so the value of this company has gone from, let me see, it's gone from, wow, it was $7 billion two years ago, right now the market value is down to $1.8 billion. the question is, who would be interested in buying? a lot of scratching heads down here, we're not quite sure, but certainly a big impact on the stock. trish: thank you so much, ashley webster. turning now to my intel. you've got bernie sanders
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wanting us to be socialists. i'm guessing most of you know already that socialism doesn't work, but i kind of feel the need to explain this again given sanders' recent momentum. let's take denmark, for example. denmark already knows it can no longer afford its freebies, so it's looking at lower corporate tax rates and trying to wean people, the young and the old to, off government benefits. you see, taxes can only do so much, and they're high. 56% on the federal level there in denmark, and there's more. did you know the government slapped a 180% tax on cars? 180%. you're paying more for the tax than you are for the actual car. but, you know, there's all kinds of freebies that go along with these high taxes. not only is college free in denmark, but students receive a monthly stipend of about $1,000 every month while they're in school. so they get paid to go to school. of course, this may explain why students in denmark are in no
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hurry to graduate. dueck it takes -- do you know it takes an average of 6.1 years to complete coursework in denmark? there's a big uproar about it right now in the country. colleges and students are insisting that kids should never be able to -- or should be able to take however long they possibly need to finish their degrees. but you have the government saying this is becoming way too much of a drain. we just can't do it. now, what people don't realize is the role capitalism has actually historically played in sand knave ya. the solid -- scandinavia. the solid foundation that capitalism provided these countries going back. sweden -- another one of bernie's favorites, of course -- it started as a poor country in the late 19th century and then took off under a capitalist system in the middle of the 20th century. it had lower taxes than us here in the united states and the rest of europe. it wasn't until the early 1970s that sweden embraced its socialism and, boy, did it ever.
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you know, in some cases the effective marginal tax rate topped 70%. sweden even had a scheme to seize private corporate profits and hand them over to the labor unions. you can imagine how well that one went. economic performance plunged, entrepreneurship disappeared, job creation and wages went nowhere. that's socialism for you. you know, eventually scandinavia figured it out, but still it's not enough. let me share with you a line from "the new york times" published about a year and a half ago that illustrates the dilemma denmark now finds itself in. many experts, the times says, say a more basic problem is the proportion of deans who are not participating in the -- danes who are not participating at all, leaning on hefty government support. and therein, folks, lies the problem. welfare benefits -- while well intentioned -- they destroy incentives, and they create a culture of dependency.
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the majority of people are dependent on the government for these handouts while the few industrious, hard working members of society are stuck supporting the rest. is that the kind of country you want to live in? i don't think so. it is not who we are. that's today's intel. all right, we've got oil today closing down for the day, crude set to settle at its lowest price since 2003. what it means for your wallet and what it means for the markets as we watch a dow that's off 376 as we get closer to the final 80 minutes of trading. i'll see you right back here in two. ow was your first week? long. it'll get better. i'm at the edward jones office, like sue suggested. thanks for doing this, dad. so i thought it might be time to talk about a financial strategy. (laughing) you mean pay him back? knowing your future is about more than just you.
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trish: all right. oil right now closing out the day down significantly, trading there, settling out the day at 26.21, down 4.5%. i do want to also point out, everyone, we now have a market that is down more than 400 points, at the lows of the session right now, 406 points there on the dow, the s&p trading down 41. you get all these worries right now about the global economy, and that has people very concerned. it's been driving oil prices consistently lower, the idea being that you've got all this supply out there but not enough demand, and that is spilling over into the overall market. phil flynn is at the cme with more on oil's wild ride at $26, not good.
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>> it's not good. and it's really signaling, trish, what's wrong with the rest of these markets that we're seeing today. you know, it's not, you know, we can talk about supply and demand, we can talk about we have all this glut of supply, but what really it's saying right now is there's concern about global economic growth. and a lack of confidence. you know, oil prices would not be down here if we weren't worried about a global economic slowdown, but they are, and that's what the market's reflecting. trish: indeed. all right, lots of concerns about the overall global economy, about our economy, about oil. thank you, flynn. we're going to stay on this as we watch this selloff continue, now down roughly 400. new developments in hillary clinton's e-mail scandal to tell you about. it wasn't only her putting our national security at risk, as many as 30 of her top aides may have handled top secret information. that's next.
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♪ ♪ trish: all right. a check on these markets, if you dare. take a look at the dow, trading off triple digits, but we have sprung back. we were just literally minutes ago off more than 400 points, now we're down just -- dare i say just 320? pandora is in talks to be selling itself, the stock spiking after briefly being halted just moments ago, and walgreens announcing a plan despite the growing issue of heroin and substance abuse, it
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plans to introduce kiosks in more than 500 stores that would dispose opioids and other controlled substances, the program would also offer a drug use to treat heroin overdoses without a prescription in 35 states and washington d.c. again, the market off 335, a lot of this tied to fears of a global recession and the use of negative interest rates around the world amid concerns that janet yellen may be out of ammunition. intel will be right back.
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trish: breaking this hour, fox news has con firmed the clinton foundation was subpoenaed by state department investigators last fall. the subpoena was for documents about the foundation's projects that may have required approval from the state department during the time that hillary clinton was at the helm running the state department. and while her top aide, huma abedin, worked for both the foundation and the state department. conflict of interest? maybe. peter barnes joins me with these breaking details. >> reporter: hey, trish, that's right. the clinton foundation itself is now confirming that investigators for the inspector general of the state department issued this subpoena seeking documents about foundation projects during hillary clinton's term as secretary of state. now, the full scope and status of the probe are not clear, immediately clear, but this story confirms fox news reporting that the investigation
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into hillary clinton is on two tracks; one on possible violations of federal secrecy laws with her use of private e-mails and her private server, and then this piece on possible public corruption, influence peddling and trading favors. itial document request had been narrowed by the ig's office and that the foundation itself is not the focus of the probe. a state department ig spokesperson declined to comment to the washington post which first broke this story. representatives for the clinton campaign also declined to comment. but as hillary clinton runs for president, an inquiry into the relationship between the state department and her family charity, of course, could further complicate her run. trish? trish: all right. thank you so much, peter barnes. i want to stay with the topic of hillary clinton, even more damning information coming out about her today about her personal e-mail server.
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fox news has confirmed multiple aides of the former secretary of state handled e-mails labeled top secret. so top secret, in fact, the state department won't be releasing nearly two dozens of those e-mails because it would be damaging to national security. and so far there is no evidence any of those aides were cleared to receive or discuss such information. so why would they have been doing it? catherine herridge joins me from d.c. with more on her exclusive reporting. she broke this story, everyone. catherine, what can you tell us? >> reporter: well, thank you, trish. a u.s. government official says more than a dozen e-mail accounts handled that top secret, classified information that was found on mrs. clinton's unsecured server, and there's no evidence they were authorized to receive it. the officials said the accounts not only included mrs. clinton's, but also her closest aides as well as state department undersecretary for management, patrick kennedy. fox news pressed the state department yesterday on whether a damage assessment is being
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done. >> as to your broader question about concerns of spillage or leakage, obviously, those are concerns we take seriously, and going forward we'll take steps to address those concerns. >> reporter: the state department recently confirmed that the messages in question include the most sensitive kind of intelligence on january 29th, fox news first reported that some of the e-mails on clinton's server were too damaging to release in any form. the state department subsequently announced 22 top secret e-mails were being closed off. former special operations veteran who worked these special access programs says his current and former colleagues are watching closely. >> the concern was that there appears to be, clearly, a double standard. had this happened to someone everybodying in the government, their clearance would have been already been pulled and they'd certainly be under investigation depending on the level of disclosure. it's entirely possible they
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could even be in pretrial confinement, for that matter. >> reporter: just for some more context, we had a second source who was not authorized to speak on the record because of the sensitivity of the issue here say that as many as 30 accounts may have handled that top secret information. the state department told us yesterday that they see this as a very serious issue, but they couldn't speak to what steps are being taken to try and contain any damage, or as intel people like to say, get the cat back in the box. trish. trish: wow. really unbelievable. thank you so much, catherine herridge. >> reporter: you're welcome. trish trish it was a huge week for my home state of new hampshire, and as the candidates head south now, we're taking a look here back at the first in the nation primary. ♪ ♪ trish: welcome, everyone, to a special edition of "the intelligence report," i am trish regan, and we are here in manchester, new hampshire. it is the law. it's the law that new hampshire holds the first in the nation
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primary. >> other states don't really want to be among the first because it does create a certain amount of division between the party regulars on both the republican and democratic sides. it's going to take a while to pull people together. >> you know this state. in fact, you were former miss new hampshire. trish: you are right, i was. >> they're tired of business as usual in washington. they look at our deficits, and who better than someone who's actually created jobs and knows how to negotiate jobs? also can bring in amazingly gifted people to deal with our financial problems? trish: you're a brave man with no coat. >> well, this is better than yesterday. trish: this is the live free or die state. we have no sales tax, no income tax, and all of a sudden a guy who's a socialist is catching on with voters here. >> we're now picking a president. we're not picking a reality tv star. >> one, can they win and, two, are they substantive on the big issues that affect us, and, three, can you govern? i think you're going to see two
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people beating expectations. the one is going to be jeb bush, and the other is john kasich. i'm a demagogue's demagogue. i don't like him as a political individual. i do think bernie's going to win, i think trump's going to win on our side. trish: what is it he doesn't understand? >> he'll have the same -- he's running to big business. the private sector experience he has is not translatable. trish: americans are frustrated by the washington process. we watched another shutdown recently, they're, you know, they're frankly fed up with what they've seen over the last eight years. >> sure. and the answer is pick somebody who hasn't been in washington, but has the experience to do it. >> this is a guy who's failed. trump airlines failed, four real estate fails, trump mortgage failed, three trump magazines failed, trump university not only failed, but the attorney general in new york state called it a huge scam. you think that's qualifications to be president? come on. neil: you and i chatted about this outside where it's a lot
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colder, i might point out. trish didn't seem to mind. i did. [laughter] trish: you know what they have in common, they're both outside the box, they're both mavericks, and you are in the live free or die state. it is the 100th anniversary of the new hampshire state primary. aw, it was good to be home, and i got the full-on effect of the snow and everything. very interesting race there. and, again, we're going to be watching south carolina very carefully right now. okay, stocks in selloff mode, however, let me point out, paring losses here. we had just been down, moments ago, been down 400 and change, now just 237. are we staging some kind of comeback? in the final 70 minutes of trading? stay with me, i'll be right back. the microsoft cloud allows us to
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points, literally just about seven minutes ago, but take a look at this, everyone. we are now trading down just 209. just, i mean, hey, it sure beats 400, right? all right. let's get some breaking analysis as to what's driving this selloff and, by the way, this sudden jump. this tells it all, this intraday chart. you can see the low there, and just moments ago we had it, and we are spiking forward -- hey, maybe, who knows? the day is young. we have got an hour to go. we could end in the green for all we know. gary culpa here, charles payne, host of "making money," i'm nicknaming you charlie, do you ever get that? >> oh, sure. [laughter] trish: and ashley webster live from the floor of the nyse. what's going on? >> reporter: yeah, fascinating to watch with. someone said this isn't human trading, it's all computers and algorithms. we did hear from an official with the united arab emirates that country is ready to take
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part in some sort of coordinated part in a cut of production of oil. saudi arabia leads the pack, they've said they're not interested in cutting production, but just the hints of that did bring the market back, and we see oil trading slightly higher after hours. if your looking for a headline, that could be it. trish: all right. do we have a gold chart we can show, folks? even with the market just being down 196 right now, you have seen a real flight to safety. gold intraday there just really, really moving higher. charles payne's on set with me, and charles, you called it. do we have a clip of charles talking about gold? this was about a week ago, folks. watch this. >> you stick with weak dollar investment strategies, i mean, gold and some blue chip names. trish: all right. you would have made some money, that's why the show is called "making money with charles payne." >> yeah. i still think it's still a good place to be because of the chaotic nature of this market and the big confusion and big
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question marks. there's so many question marks, and they only got worse with janet yellen's testimony these last couple years. last august i started doing gold and tlt which is a play on bold bond yieldings. both have gone through the roof in the last couple weeks. janet yellen, it was interesting today, trish, because she admitted that the fed had no idea the dollar was going to get as strong as it did or oil would go down as far as it did. i love the fact that she admitted that, but a lot of people already didn't have faith many this fed to begin with. trish: so it doesn't help. >> and then it's all about this december rate hike, she's still okay with that. and then the concept of negative interest rates, that is scaring the hell out of people. trish: let's talk about that. you know, gary, negative interest rates, we've seen other parts of the world employ this. what would that -- what does it mean, number one, and what would it mean for us if we're actually in that state that we need to do it? >> well, let's just go with precedent. japan did it, germany did it,
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and both their markets crashed. so if we do it, i suspect the same thing would happen. it would just show another act of desperation, and i've got to tell you, i watched three minutes of janet yellen today before i had to, you know, shut it down. i don't think she even knows who won the super bowl in the last week, that's how bad they are as far as what the economy's doing. and i've got to tell you, the questioners, i think, were worse than janet yellen in answering the questions. and as far as today, i heard opec finally said the magic words, maybe some production cuts, and you just had a major short squeeze on oil as far as the market here. but just keep in mind the dow is down 2800 points from the highs. it is way overdue to have one of these vicious bear market rallies. but i think after that's over and done, we're going to head lower again. >> well, there's no doubt it's overdue. i did like some of the questions e, pat toomey, out of pennsylvania, was asking her about negative rates. what bothered me is she said it
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wouldn't hurt small savers. trish: oh, come on. zero interest rate policy has killed mom and pop savers. >> right. imagine negative -- trish: so i give you $10, you're the bank -- >> i hold on to it, and i give you back $9.90. [laughter] because you think your money is, you know -- trish: yeah. >> you could pay me to hold onto it. >> trish, ben bernanke used to say zero percent interest rates will not hurt savers because they'll make it up in the economy. that is the most asinine statement i have ever heard in my lifetime. these savers do not make it up in the economy, and basically these zero percents have crowded them out. and for an administration that talks about how they're for the poor and the middle class, it directly affects and hurts, and that's been a bad -- trish: it's pushed everybody further and further and further out on the risk curve. you've got mom and pop suddenly buying puerto rican debt, right? [laughter] >> you got it. trish: they're searching for yield because they can't get any
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if they go to the local bank. >> and they can't get a loan. trish: when she says stuff like i don't think it's really -- is it a spin? is anybody going to believe her? >> i agree with gary, stop off at a hot dog stand every once in a while and find out -- >> you're right. >> when you start to talk about the selloff in the market, and this is her words, the cost was not mainly because of their policies -- the cause was not mainly because of their policies, i think the fed boxed themselves into a difficult position. that rate hike in december was ill-advised. she's a dove, i think she wanted to prove she didn't always have to be the dove. trish: wow. just be who you are and do what you think is right. >> just remember something -- trish: yes, gary. >> ben bernanke put her in this box. >> no doubt. box. without him we wouldn't be in this spot. i give her credit for rolling back the printed money and trying. the problem is this data dependency will wait for the news to coming and is crazy, you
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would think somebody at the fed would have enough stuff that they would know what is going on before. charles: i will blame it on gary. >> make sure you watch making money with charles payne. liz claman, over to you. liz: doesn't know if janet yellen won the superbowl, looks confused, certainly confused the markets, we are watching some mixed moves on the stock exchange, never a dull moment here. and stocks open to correction territory, a major come back in oil but we are watching at the moment, 7 minutes ago this headline across at here is the


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