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tv   Bulls Bears  FOX Business  February 21, 2016 6:00am-6:31am EST

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john mcafee the founder of the anti-virus software. and austin petersen. all of them would make better presidents than hillary or donald. th yes, we[! can. >> politicians k' >> yes, we can! >> yes, we can. >> and people believe. >> w yes, we can!e[/]éh9 f means government, jj:3dpiih5ów> yes, we 8ñ >> no.u8?uf℠z!jh2wgvvc politicians can't. >> do youto) liberals live in az
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fa who thinks the tsa does a great job. >> to be >> to be subjected to such disgusting abusesz'p@ ofz2í pow creator from day one. >> we're going to create millions of new jobs. >> my job is to create jobs. >> they keep saying that, but does government create jobs p. >> absolutely. >> congressman keith ellison is co-chair of the congressional progressive caucus. >> the public sector and the private sector must be working together in order for the market to work properly. >> wouldn't it be nice if the wise men and women in washington
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could make the market work properly and create jobs? >> john, nobody can doubt that we have schools that are crumbling, that our parks need more attention. my own city of minneapolis, we saw a bridge fall into the mississippi river, man. >> but government doesn't have money of its own. it has to take money from the private sector to give too those pro >> you >> you have to take the money from somewhere. >> congressman illinoellisoelli claims it can create 2.2 million >> if >> if they can create 2 million jobs, why 5 million, 10 million? why are you soo cheap? spendz more. >> in needs to be balance. >> how do you know 2.2 million is the right balance of taking money from the private sector. >> no one ever does know the exactly right answer. >> i think this guy has the right answer. that's mark cuban, owner of the nba champion dallas mavericks. how many jobs have you create c
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>> i don't know. tens of thousands. >> when politicians take money from the private sector, they take it from job creators like >> gove >> government is just not very effective and very efficient at using money. >> when cuban was 24, he had no job himself and no prospects. >> you end up with billions of d >> and >> and a hot wife. what more can i ask for, right? >> in 1983, cuban started a software company. he grew it and sold it to come pew serve for millions. then -- >> my partner at the time came to me and said, you know, you're the geek. there's got to be a way to listen to indiana basketball over the internet. i'm like, that's a good idea. >> so cuban started another >> i p >> i put an isdn line in the second bedroom in hi house and i just worked. >> without a government program, mark cuban again created so >> >> i said, guys, when this is over, it's either going to be we're idiots and this is worth absolutely nothing and we'll know it right away, or we're all going to be rich. >> five years later they sold that company to yahoo! for $6
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>> to >> to me, the most patriotic thing you can do as an american is be filthy, filthy rich. you're creating jobs. you're creating opportunities. >> cuban used his billion dollars to hire more people and create more wealth. and he bought a lousy basketball >> y >> you took a team not expected to win. they became national champions. >> yeah. we sucked. >> did you have some idea nobody else had, or -- >> yeah. i walked in and i said, if you mention our win/loss record, you're fired. >> the attitude would spread, it's contagious. >> yeah. losing is contagious. we had a survival attitude as opposed to let's win attitude. that's what i had to change. if you don't think like winners i'm going to trade you, get right of you. it took us 12 years but we finally won a world championship last year. >> now cuban stars in a reality >> >> $500,000 for 45% of the c >> b >> but cuban says it would be hard for him to start his
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businesses today because government's gotten so much more intr >> a lot of these things now, there's so much paperwork and regulations, so many things that you have to sign up for, that you have a better chance of getting in trouble than you do of being successful. like, come on, guys. you want people to start businesses. why m why make it so hard? >> they make it hard because they want safety and fairness and think their rules provide they a they also make it hard because big government demands higher taxes. cuban cuban will survive that, but little guys get killed. >> that's right. two for the government, one two for two for the government. one for me. >> ed land bought a small farm in south carolina thinking -- >> how can the farm produce income, pay for itself? that's when we decided to go into the ag row tourism bu >> he >> he sells cattle and produce,
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but he's been held back by gove >> and >> and i'm tired of them telling us what to do and how to live and how to do business, how to can a product. i ask them permission for everything i do in life. you want to control everything? then you come out here and run the damn thing. >> why does the government do that has ed this frustrated? >> this is just part of the regulations we have to deal with right here. they just are going on and on and they just keep growing. >> government regulations stopped him from canning and selling his crops. >> we missed an entire harvest because we couldn't get the kitchen certified in time. >> and they forced him to make tons of little changes to his buildin a a regulator told him -- >> you need to put another hand wash in the sink beside this sink. for for what? for for employees to wash their h w what's wrong with the other sink? the the sink on its own was not a big deal. it's the little things that keep massing together and make this big ball that, before long, i can't carry that ball. >> he's learned that bureaucrats keep their jobs by finding
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p >> >> let's say a building codes inspector comes out. if he doesn't find anything, then what good is he? he can't justify his position unless he says, boss, i found this and this and this. it just keeps rolling and r >> th >> that time and money he spends obey obeying government could have gone to create jobs. >> without the government deterring the growth of this business, we could hire ten more get out get out of our way and leave us alone, and we can create all the vob cans. >> but big government doesn't get out of the way. it keeps helping us. for example, are you disabled? politicians in there say they can help you find jobs. but, no, they can't. >> we must take strong action. >> remember this guy? >> young senator al gore helped convince democrats and republicans to overwhelmingly pass the americans with disabilities act. >> the point of the ada was to get people with disabilities employed, and it's had
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absolutely the reverse effect. >> a reverse effect. when the law was passed, 51% of disabled people were in the wor but but now it's just 33%. one reason is that the law makes employers see the disabled as a legal threat. if you fire a disabled person, he may sue you. in addition, politicians promised the ada would force businesses to accommodate handicapped people. sot law includes hundreds of pages of detailed rules. every new doorway must be 32 inches wide. every mirror no more than 40 inches above the floor. if they aren't, morris mare bond may sue you. he files hundreds of ada lawsuits every year. what would you do, john, if you were in a wheelchair, you couldn't move your leg snz don't you want something to protect you, to protect your rights? >> but, as usual, the politicians' protection did nachty things. now some businesses are sued by disabled people who have never even been in their stores.
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drive-byes, the lawyers call t a a disabled person or scout working for them drives up and down the street looking for businesses that might not be compliant. eric w eric wyatt was asked to do that. >> eric got an e-mail from his attorney, go to the following 19 businesses, get 19 business cards or receipts, and i'll pay you $1,000. >> just get a business card to prove he was there and the lawyer would find a reason to eric eric said no, but he could have made thousands of dollars a day. >> about 19,000 altogether. >> the disability rules are hundreds of pages so most every business violates some rule. >> it could be that a mirror is an inch too high, an unsecured floor mat, round doorknobs. >> a round doorknob is illegal? >> it could subject you to a l >> thi >> this man owns stores in san diego. his f his father was disabled and used a scooter to maneuver around the >> we >> we have a lot of disabled customers that never complained
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or anything. and we always felt we were in com but but if an attorney comes in and his or her motivation is to make money on noncompliance, i think they can be very creative. >> one person sued, claiming the store aisles were too narrow for his wheelchair. but they aren't. so we decided, let's look in our security cameras. well, lo and behold, we couldn't find him. he never was in the store. >> but the phony plaintiff's lawyer still demanded money. >> he would just go away for $1 >> >> so george paid, even though he had proof that the man was not in his store. in total, being sued cost him 6x $ >> th >> they're faced with these claims that, even when they're not true, they pay anyway because it would cost them much more to win? it's as simple as that. >> we know of a number of defendants who spent $100,000, $200,000, $500,000 dealing with these cases.
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clint eastwood was one of them. >> eastwood runs this hotel restaur he he has a handicap accessible bathroom, but a woman sued him because she claimed she was directed to a regular bathroom. eastwood is rich enough to say, go ahead, make my day. he fought back in court and won. usually business owners just pay the lawyer a few thousand dollars to go away. >> it's just extortion, but it's >> >> it sure feel that's way. it's an ugly, ugly process, but it works. >> you sue about all kinds of trivial stuff. >> well, it's trivial to you because you're arrogant, and you don't see the point of view of someone -- >> you're parasites. you're freeloading off productive people. >> if it wasn'tor for people like me, thousands and thousands of businesses would not be kmriechbt with the ada right if yo if you want to call it a racket, it's a racket written into the legal system. >> yeah, it's legal extortion. >> well, the entire legal system is driven by money. >> yes. and by politicians who say --
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>> yes, we can! >> yes, we can! >> yes, we can. coming up -- >> the first thing you're struck by is our jungle lobby. >> did you know you helped pay >> did you know you helped pay for this? i am benedict arnold, the infamous traitor. and i know a thing or two about trading. so i trade with e*trade, where true traders trade on a trademarked trade platform that has all the... get off the computer traitor! i won't. (cannon sound) lots of vitamins a&c, i won't. and, only 50 calories a serving... good morning, indeed. v8. veggies for all. we danced in a german dance group. i wore when i first got on ancestry i was really surprised that i wasn't finding all of these germans in my tree.
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want to go to college? it's expensive. a year at harvard now costs more than $50,000. state schools often cost $ >> the >> the politicians in there say, we can make college affordable for everyone. but, no, they can't. they've tried. federal spending and college aid has doubled, then doubled again. but as government aid grew, so did tuition. over the past 30 years inflation was 160%. we're upset that health care costs grew more, 400%. but college tuition rose 750%. >> the first thin you're struck by is our jungle lobby, ban 81 trees, all the trappings of a jungle retreat. >> one place your money goes is to luxuries that entice students and their money. this is the rec center at the university of missouri. >> from there, you'll find yourself in the jungle gym, complete with the torches to welcome you into our cardio g not not to be outdone by tiger lair.
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that's our spinning studio. it is outstanding, especially with its mural work done by that international artist lampo. then zoo life, our in-house day >> i >> it haes no surprise that tuition is high. >> we just keep feeding the >> >> naomi riley wrote a book about how colleges waste money. >> however colleges decide to hike their prices, the federal government says, okay, we'll contribute a little bit more. >> today almost half of college students get federal aid. >> we've got to make sure that education is affordable and available to everybody who wants to go. >> people are looking to the government to help them out of this mess, but the government got them into this mess. >> because the government pays for everything. >> yes. yes. the c the cost of college is not just this number that comes out of thin air. colleges know that they can keep increasing the cost because the government says, we will keep paying for it. so if the government said, we are not going to keep making up the difference no matter what you add to your costs, the cost would start to stop or start to go down. >> but progressives say
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government should spend more. >> there's no evidence that college loans or any type of student aid increases tuition at public universities. >> oh, come on. if you give people money, tuition goes up. >> it doesn't actually. >> tamra drought wasorks for a think tank president obama helped found. >> colleges have been forced to really cut to the bone. if you look at what has happened -- >> cut to the bone? >> absolutely. state funding has been steadily and pretty aggressively cut. >> what do you mean cut? it's gone up from 55 billion to almost $80 billion. up isn't a cut. >> it has gone up in absolute terms because there are aloft more students being educated. >> but it's -- do you liberals live in fantasyland? >> there are a lot more students, john. >> not enough to make up with the money you're throwing at >> pe >> per student amount of financial aid particularly -- >> it's up. today students get an average $12,000 in federal and state aid, up from $7,000 in 1987.
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>> good morning, mr. vice pre >> at >> at least vice president biden understands that subsidies raise >> how >> how do you feel about the idea that government subsidies by artificially increasing the availability of student loans is at least partially responsible for rising tuition costs? >> government subsidies have impacted upon rising tuition costs, and it's a conundrum >> it >> it sure is. colleges now advertise lobster dinners and expensive dorms with luxury pools. >> pools and spas and fancy gym facilities and sushi for lunch. isn't that where you want to take your next vacation? every college you go to, you say, why do you spend so much money on this? well, we have to compete with the college down the street. >> a terrific climbing tower, 42 feet, with a variety of lights on it so we can simulate different times of the day. >> so the administrator says, good, i'll build a new rock >> i >> i would love to know where all of these rock walls are. >> okay, i'll show you.
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more than 600 colleges now have rock walls. >> what's important to any leisure resort and what's important to any red-blooded american college student? spring break. give our tigers spring break every time they step into the student recreation complex. >> when you go on a tour here, they definitely throw that in your face. >> students will come to us and say, this is what seals the it use it used to be reading writing and arithmetic. we're the fourth l, recreation. >> pretty much every parent i have on my tour is like, i want to be back in school. >> we are putting colleges on notice. >> >> now even progressives are upset about the rising costs of c >> we >> we can't just keep on subsidizing skyrocketing tu >> >> but in that exact same speech, the president also said -- >> my administration is increasing federal student aid so more students can afford
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what in the world is happening on wall street? >> customers are freaked out, waiting to see how low the dow will go. >> when the housing bubble burst and markets fell, people intuitively felt someone must do s >> the >> the politicians in there said, we know what to do. senator dodd and congressman frank will write more rules to make sure it never happens again. and and so they wrote. and wrote. hundreds of pages. they say this will create a new financial system. >> one that is innovative, creative, competitive, and far less prone to panic and c >> why >> why is dodd/frank a good
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>> >> well, consumer protection. an agency that is dedicated to make sure that financial products like mortgages, credit cards have simple contract that's are easy to understand, transparency is a good thing. >> is dodd/frank simple? did you read it? >> absolutely. >> did you understand this? this whole thing? you understand these? >> yes, i stayed up and read that thing. and let me tell you, running a bank is complicated. >> but banks already had to follow these thousands of pages of complex rules even before dod if you if you wantveñk to open a bank, you've got to obey all these regul economi economist richard ron is a former bank regulator. >> again, i think most people had trouble remembering the ten commandments let alone 10,000 pages of something. >> ron used to work in the cayman islands. the cayman islands. sound familiar? >> you have assets hidden in the cayman islands. >> we're not going to beat barack obama with some guy who
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has swiss bank accounts, cayman island accounts. >> oh, yes, the caymans are the caribbean islands where mitt romney supposedly hides his >> >> you know the reputation of the cayman islands. >> people keep telling us it's where rich people go to cheat on >> >> here's a little building down in the cayman islands. >> over 12,000 businesses claim this building as their headqu >> it >> it's monkey business. >> either this is the largest building in the world or the largest tax scam. >> i mean, you hear it all over the news, well, about the whole tax season foolishness. i mean, it really isn't true. >> she's right. look at this gao report. the irs says cameman officials require all requested information in a timely manner. >> mitt romney pays taxes on all the money earned from the came man entities. >> i would think it would be like pirate heaven, some pirate would go and steal all the >> we >> well, that actual live
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doesn't happen because the rules are understandable. >> our laws are so complex, even regulators don't understand the the s.e.c. investigated bernie madoff six times but didn't stop >> ber >> bernie madoff could never have gotten away in cayman what he got away with here in the u.s. >> >> america's complex laws only pretend to stop fraud. remember the solution after the enron scandal? >> with the tough new law, we will act against those who have shaken confidence in our m >> tha >> that gave us a law called sur veins oxley which cox americans billions in paperwork but didn't prevent madoff's fraud or the next bubble. >> the economy in crisis. big banks in a death spiral. >> banks made bad decisions. it makes sense that you should have a rule to stop that. >> no. >> but what about that cayman building? doesn doesn't it suggest tax fraud? thousands of companies are registered here. >> it has nothing to do with in in delaware, there's buildings
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that have ten times or a hundred times as many registered com >> >> it's true. companies register themselves in delaware because delaware has simpler rules. i wubs started a business there, and in just one week -- fox t-shirts? fax hats? -- i could have registered my stand even faster in the >> wha >> what i set out to do was to design a system that was market responsive and fast. >> john seymour helped create the simple rules. it takes just ten pages to register a hedge fund. and the simple rules work. >> look at our track record. just in the past decade we've been through the crisis of 2000, 2004, and the most severe crisis being 2008. and no cayman financial institution needed any kind of government intervention or needed any bailout. >> simple rules also created
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pros >> to >> today we have the highest standard of living in the world. >> we can't complain. >> jobs are always opening up. the businesses are booming out of nowhere. buildings are coming up. hotels are being built. >> simple rules has been good for people. >> yes. >> it's counterintuitive. people's reaction is, we protect people with more rules. >> i go back to the ten commandments. you you know, the bible said you needed ten. they didn't say you needed coming up -- do you hate the [[otsa? >> that's disgusting abuses of power! >> but >> but good news. there's something better. >> people here are friendly and willing to help. >> that's next.


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