tv Risk and Reward With Deidre Bolton FOX Business May 19, 2016 5:00pm-6:01pm EDT
>> sounds like a lot to me. i'm not sure i relax that much. david: we hope you folks relaxing while you're watching. melissa: there you go. "risk & reward" starts right now. deirdre: france and egypt on high terror alert as flight between cairo and paris crashes into the mediterranean. this is "risk & reward," i'm deirdre bolton. new video coming in right now of a search that is underway. the story is changing and developing. what we know so far. in egypt, airplane with 56 passengers and 10 crew members went down, all presumed dead. egypt's aviation minister said more likely than the plane was downed because of a terrorist attack versus a technical error. you are looking right now at a simulation. obviously the plane was about 90 degrees off course. it rotated a full 360 degrees as it plunged from 30 --
37,000 feet to 15,000 feet and 9,000 feet before crashing into the sea. that is an animation. you're looking at rescue effort or debris search i should say, underway. with me, my colleague ashley webster, he has been with me since early, early this morning. what is the latest? reporter: as we look at the animation, deirdre, you have to wonder if the plane was still intact, why didn't the pilot or crew or someone put out some sort of emergency signal. if it was a technical problem, there was a fire, a failed motor, a jet or something going on, whatever it was, it was severe enough that the pilot could absolutely do nothing to alert authorities. that is why the growing suspicion throughout the day is that this was an act of terrorism. something that egypt air said they thought was more likely because they do not believe it was a technical problem. we don't know.
all of it was speculation. what caused the flight to go from 3thousand feet to 15,000 feet in quick fashion before off the radar into the east mediterranean. there is confusion because greek officials say the debris they found in the eastern mediterranean can not be identified as that belonging to flight 804. in fact the plane itself is blue and white in color. none of the debris found so far matched that. they have found some lifejackets but this is a part of the world we've seen a lot of migrants trying to get across to greece from turkey or from libya to italy and so the fact that you find lifejackets in the ocean, not that unusual. so, that adds to the confusion. it is middle of the night over there. first light comes tomorrow, i'm sure they will be back out there trying to figure it all out. meantime, egypt will lead the investigation. france sent three expert investigators to help them. the jets on this plane were
actually made in the united states by pratt & whitney. the question is, will any us air officials offer or be invited in to help in this investigation? probably not. there is a bit of tension between the u.s. and egypt when it comes to airline investigations. it all goes back to 1999 when an air egypt 990 flight went into the ocean off the northeast coast. u.s. investigators ultimately saying it was suicide by the autopilot, copilot taking off autopilot diving into the ocean. egypt never agreed with that. said it was technical problem with the plane. all that said, we hope to learn something tomorrow. it is confusing, deirdre, because you have number of countries involved. greece and egypt are not coordinating and making separate statements and that's why you have the confusion. deirdre: ashley webster, thank you very much. port port my pleasure.
deirdre: with on the crash, experts from military to aviation analysts. with me retired rare force lt. general tom mcinerney, terrorism expert, sebastian gorka, former commercial pilot, j.t. tresannii. sebastian, if it were one of the terrorist groups wouldn't they be bragging about it? bragging and destruction seem to go hand this in hand with the terrorist groups. >> if you look at jihadi groups they're very different from political terrorists from the 20th century. groups like the ira would almost immediately claim responsibility but what we've seen with al qaeda or even isis there is kind of a pregnant pause. there is a delay very often until they actually accept responsibility. we don't exactly know why. it could be a question of
measuring the response and getting to a point of crescendo where they can have the mass effect of accepting that responsibility after so many people want to know who is behind it. so, this, if this was a terrorist attack, it is not unusual for jihadi groups to wait some time until they claim responsibility. deirdre: sebastian, sadly that does make sense. i'm glad you brought this up. lt. general, egypt will have primary responsibility for conducting the probe. as my colleague ashley webster said, the french government is involved. the plane's manufacturer. greece is involved. french investigators are looking through surveillance footage at the paris airport. but how long before we can complete the puzzle? >> well it is going to take quite a bit of time, deirdre. but here is my assessment. i believe it was clearly a bomb put in the tail very similar to the russian aircraft last october.
i believe it's a cookie cutter. i had unconfirmed reports it was islamic state agency, but i haven't confirmed that. if you look at what happened, that plane had a catastrophic explosion at flight level 370. 37,000. in my years of flying in air force, plying planes with bombs, et cetera, we never had a airplane at altitude explode catastrophically like that. i'm not saying it couldn't happen, but i think patterns of behavior we're looking at what went on in baghdad yesterday with isis, what, this is direct impact on president el-sisi and on the egyptian government. i believe when the tale came off, i believe the plane rotated. the model you showed had a tail on it.
the violent spinning and drifting was driven by airplane without a tail. the pilots were so overcome with the catastrophic event they did not have time to put out a mayday signal. all this puts into patterns of behavior i think are reasonable. >> lt. general makes sense. i will bring in one much your former, i should say, colleagues in the sky, commercial pilot jp jptresani. >> that partially. that is nice animation for sure, that could intact airplane coming down whether tail was off. that could have been explosive decompression, so violent it structurally damaged the aircraft and broke it apart or came down or that catastrophic event was caused by a bomb that went off in the aircraft. the answer would like to hear they have a radar return from 37,000 feet to 10,000 feet where
they say the radar return departed. what radar return? was it radar return from the transponder in the aircraft that was replying to att interrogation, or, was it debris coming down in pieces where primary radar, which is merely a scan and reflective bounce back, that tells me that there are pieces of an aircraft coming down? all the egyptian authorities have to tell me is, where did that radar return come from. are you getting it from a transponder, the secondary radar or getting it from a primary. deirdre: that would confirm to you personally whether this was a bomb, a bomb was planted on the plane. >> it would enhance the fact probably the destructive force of a bomb at 3 -- 37,000 feet with pressurized airplane and fully damaging which we had aircraft frames have survived. but the combination of a, for
instance, the buk missile strike of malaysian aircraft over the ukraine was double hit. proximity fuse of a missile hit an aircraft and aircraft both exploded from that and amount of press surization of that aircraft. deirdre: lt. general, i want to bring you back in, to jp's point, as far as the plane itself goes is what i want to delve into. the a320 is a commercial -- it is not a jetfighter, right? it is not meant to turn on a dime. this is sort of like a cadillac in the sky kind moved dell, right? >> yes. deirdre: okay, so in that sense the idea that it was a very quick turn, at least standards out from normal patterns. sebastian, in the two days before the disappearance of this plane, the plane had been in numerous other places. so brings sell, tunis, eritrea, that was all before paris -- brussels. can you draw any conclusion, i realize that is highly
speculative specificking out places on map but the plane was in numerous places before it left paris so tons of opportunities for bad actors, right? >> correct. it is not unusual for egypt air flight manifest to visit thisairports in north africa, europe, middle east in that short span of time. look at list. it is not just places like brussels or luxor. it is places likes eritrea as well. these include airports that do not have, simply do not have the level of security when it comes to the vetting of ground staff that we have in other western airports. even in western airports we have problems. look at the fact that we recently had a case in the united states of an individual who went to fly, went to fight with isis who is from minnesota and he used to work at an airport in minnesota cleaning the air frames. so this is, this is the black hole.
deirdre: i'm glad you mentioned that, sebastian. i rather that too. leading some to speculate this is truly inside job. >> yes, this is huge issue. we have all kind of federal intelligence vetting services and centers that go through the manifests of passengers in the united states or passengers on international commercial vessels coming to the united states from oconas outside the continental united states but we don't have the visibility on staff who have access to planes on the ground in the airports around the world. we know this is a huge issue in paris. one of my sources says it is a very serious possibility that this actually occurred in egypt. if this was terrorist incident, likelihood of an insider actor doing this on the tarmac in egypt is very, very high, before the plane left egypt to come back, it could have actually been put on the air frame at that point. deirdre: all right.
i thank you all. sebastian gorka with us, terrorism analyst, general tomtom mcinerney, and jp is a former international pilot. donald trump is speaking shortly in new jersey. there are two events. governor chris christie will be there as well. connell mcshane is on the ground. connell, two fancy dinners, two very high price tags. are there taxpayer outrage? are you seeing it in local papers. christie cost taxpayers 10 million with "bridgegate" and his unsuccessful presidential bridge and these dinners are costing a lot. >> it is a lot of money. i don't call it taxpayer outrage but we've seen people examples of write upset what is happening on the ground. give you two concrete examples in the hours we've been here in new jersey, one on the ground, one in the air. starting by land.
a group of protesters garretted at many donald trump events. a group gathered across the street from this event. when we were over visiting with them, they were chanting, hey, hey, ho, ho, trump and christie got to go, that type of thing. up in the air kind of strange, had a small plane flying around, had a message on back of the plane, make new jersey great again, #dump christie and trump. we'll mark them down upset or not in favor of christie or trump. to the point you make about the money they will try to raise money doing it a little bit different way. $200 to get in. once you do get in it is like a traditional trump rally. that isn't often what happens. usually fund-raisers are stuff any sit-down dinners. they will raise money for christie presidential campaign. is reportedly $50,000 in debt. state republican party by the way is in debt to your point,
related to that bridge scandal. trump comes here to help someone who helped him, chris christie endorsed him for president. some think he may hip down the line. there is speculation he will be a running mate for donald trump. but to that point, quinnepiac put out new numbers that new jersey don't want him to be. 73% opposed to chris christie being donald trump running mate. that is funny because he is still sitting governor. deirdre: he is indeed. i'm sure you saw the sketch on "snl" where he is waiting to be asked. connell mcshane from lawrenceville, new jersey. trump senior advisor barry benefit will be me later in the show. i will ask him about the events and implications for general election in november. quick check on markets given today's news and travel stocks down in the wake of that tragic egypt airplane crash. stocks of american airlines, delta, continental, southwest, jetblue all closing lower by 2% or more.
all major indices down across the board. in fact if you look at s&p 500, it has erased all of its gains for the year so far. the dow ever so slightly hanging on to a year-to-date gain but only up around half a percent. new fox poll asked participants key questions including which candidate is more disliked, hillary clinton or donald trump? the results may surprise you. in silicon valley, facebook ceo mark zuckerberg criticized idea of building a wall between the u.s. and mexico. now amazon founder and ceo jeff bezos is weighing in on potential policy decisions. we'll tell you what he said after this. ♪ >> i hear fearful voices calling for building walls and distancing people they label as others. instead of building walls we can help people build bridges.
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deirdre: according to a "fox news poll," a record number of americans don't like either hillary clinton or donald trump. negative views on hillary clinton are worsening though. that is the headline. 61% of respondents don't like her. the same question got a 58% read in march. for donald trump, 56% of respondents hold unfavorable view but some people may be getting used to his style. his reading has improved from a record 65% two months ago. for their take on the numbers and some of the data points we bring in my political power panel. "lifezette" senior political
reporter, ashley pratte. we have a republican strategist, sara flores and democratic strategist basil smikel. welcome to you all. what does this imply for november since you're democratic voice? the fact hillary clinton, she is the presumptive nominee. people who believe in math think she will get it, but a lot of people are saying listen, senator sanders is almost like terrier at her heals and california may be a challenge for her. >> i think she wins california and i think she wins new jersey. she is only 90 delegates away from clinching the nomination. i'm fairly confident she goes into july, into our national convention with the delegates that she needs. look, once both republicans and democrats have their conventions we reset a little bit. i think her negatives will go down and particularly compared to trump, as she starts talking more about policy. deirdre: right now it seems like he is closing the gap. i mean i agree that it is not, right this second this is
unlikability contest, so both candidates have high unfavorables but as if people are getting used to him and really turning more negative on her. >> they're getting used to him in sort of the combative style that he has had and way that he sort of won this primary but i think as the nation turns to, okay, what policies are you going to actually put forth? when he goes up against hillary clinton i think, i think voters will get used to the style and then start to becomes dismissive of what he can actually offer. deirdre: ashley, there were other parts of this poll. respondents had to rate each candidate, strong leader, trustworthy and cares about me. so hillary clinton actually scored worse than donald trump in first two, essentially tying that third category. what is your take on that? >> when i think is interesting here, right, this is great news for the donald trump campaign in the sense that he has been the presumptive front-runner for a little over a week and his numbers already are starting to look a lot better.
people that said he can't do much worse, it is really starting to show, right? everything he have has said not hurt him yet but yet her numbers are getting worse. which tells you going into the general election and it is contested right now as far as, you know, she is the democratic front-runner but sanders still in the race. she will bo in tattered and torn while donald can start to build up his numbers. that is what is interesting. her untrustworthiness can only get higher. his unfavorables are starting to get lower. as he continues to work toward being nominee and she is still in a primary it is going to get a lot closer than we think. deirdre: sara, picking up there where ashley left off, i'm looking at new rasmussen poll showing trump's lead growing over hillary clinton. 42% would vote for donald trump over hillary clinton if the general election essentially were tomorrow. hillary clinton though, still seems stronger with a few key demographics, women,
african-americans and latinos. what is your take? >> well you dig into the gender gap numbers it becomes more fascinating. she is leading among women by 11 point but donald trump is leading among men by 22 points. so if you want to talk about a gender gap, hillary is the one with bigger problem right now. now we have a long way to november. as ashley was talking about her nomination isn't wrapped up yet. expect her numbers to rebound actually a little once sanders has been put out of the way but -- deirdre: her numbers are going quietly. democratic strategist, feel like he is truly hurting her campaign. >> he won't go away anytime soon. deirdre: we'll continue the conversation. ashley, sara, basil, stay with me. couple other topics to cover. we'll be back to continue the conversation. just want to let people know that walmart beat earnings forecasts, strong u.s. sales helping to power the retailer through the quarter. many of its competitors struggled with lower demand. if you look at the stock, it
popped on strong earnings report, closing up more than 9%. billionaire mark zuckerberg meeting with conservatives closed to press but trump campaign senior advisor barry bennett was in the room. he is going to join me to tell me what it was like behind closed doors. ♪ you both have a perfect driving record. until one of you clips a food truck. then your rates go through the roof. perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident.t. when a moment turns romantic why pause to take a pill?
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deirdre: facebook's ceo mark zuckerberg met with influential conservatives yesterday. tech site gizmo alleged that facebook censors conservative news. zuckerberg says that doesn't happen, but called a meeting to talk about. barry bennett was there as a conservative voice, not particularly a representative of the trump campaign, but he certainly is working for it. barry, you were there.
we weren't. what was it like? [laughter] >> you know, it was a very good meeting. facebook told us they were 100% committed to the platform being used for every voice. and to the extent that any kind of bias could be found in algorithms or in humans, they would work to eradicate it. and it was the beginning of a dialogue, not the end, but i felt really good about it. i think everybody in the room felt really good about it. deirdre: so net-net, you were satisfied by the outreach, by the conversation, and i'm assuming that mark zuckerberg talked about action steps. >> yeah. we talked about the investigation is still ongoing. it's not quite done. they're interviewing, you know, every employee that ever worked in that trending topic section where the allegations were made. i mean, it's a small, relatively new product for facebook where the problem allegations have been made. but, you know, i look forward to future dialogue with them, you know?
be they said all the right things. deirdre: they said all the right things and, actually, from a statement that i read that subyou are berg put out, he said the reality is -- i'm quoting him here -- conservatives and republicans have always been an important part of facebook. donald trump has more fanses on facebook than any other presidential candidate, fox news drive cans more interactions on its facebook page than any other news outlet in the world. it's not even close. so you on your side admitted facebook's reach of a billion plus daily users, but it seems that they are not immune to conservative voices, so i'm glad you went out there, glad you were invited. [laughter] i want to ask you, though, as we continue to look at this intersection between tech and politics, amazon founder and ceo jeff bezos swinging at trump earlier after trump criticized his ownership of "the washington post." here's the comment, i just want to get your reaction. >> okay. >> back in february donald trump said this about amazon: believe
me, if i become president, oh, do they have problems. they're going to have such problems. how do you react to that? [laughter] >> well, you know, my initial reaction to something like that is to take it very lightly. but, you know, when -- if you reflect on it in the context of what i've just been saying, my view is that's not an appropriate way for a presidential candidate to behave. deirdre: so as someone who is working, barry, with donald trump on his campaign more president, what's your take? >> well, i mean, this whole battle is over the washington post hiring an alleged 20 reporters to dig through every little secret in donald trump's life to try to dig up some dirt on him. which, you know, i would love to see some reports about people in pain and some of the best solutions across america and something that actually furthers
political dialogue and ideas instead of the politics of personal destruction. deirdre: that is a fair point, indeed, barry bennett. we invite you for clarity, we are never disappointed. donald trump's senior campaign adviser with me there. well, last weekend's nevada democratic convention was rough. now media outlets, even far-left ones, are turning their backs on bernie sand's. my -- sanders. my political power panel is back to weigh in on the democratic field. >> it can do the right thing and open its doors and welcome into the party people who are prepared to fight for real economic and social change. [cheers and applause] ♪ ♪ the pursuit of healthier. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness.
>> i just wanted to let you know that people like you should be hung in a public execution to show this world that we won't stand for this sort of corruption. >> i was interested in your dictatorship, just had a few questions regarding how i need to vote for the dictator in november, hillary. >> you are a fascist [bleep] fascist [bleep] deirdre: threatening voicemails from anonymous callers. last weekend's democratic convention in nevada erupting boo chaos.
senator sanders' supporters taking a violent tone. liberal media outlets are now turning on him. so mother jones, talking points memo, daily cause just a few examples. with me now, my political power panel, ashley, sara and basil. welcome back to you all. so, basil, what is at stake here for senator sanders? most people say if you believe in math, you understand that hillary clinton has it, love her or hate her. >> well, i think she does have it. but, you know, senator sanders, we spend a lot of time talking about delegates, but the truth is in all of these successive primaries, he's also picking up individuals that he could put on committees, things like the platform committee. so i do think that as long as he's staying in, he has more of an ability to sort of make his mark at the national convention. so i think for him this is -- deirdre: he can contribute to the platform, he has a voice,
and he can affect the party, that's what you're saying. >> that's what i'm saying. deirdre: so, ashley, which convention is going to be spicier? [laughter] >> oh, man, had you asked me this maybe three months ago, i would have said the republican primary, the convention, because at that point it was wild. it started with 16, 17 candidates, right? and now it's one. and we've actually been able to make it to the point that we have one presumptive nominee. at this point she's the front-runner, but sanders is winning states this late in the primary, and they're going all the way to california. and her e-mails right now to supporters are pretty desperate saying, essentially, this isn't over, and she's admitting it knowing that she needs a lot more steam to get her through to the nomination and then on to the general election. so this is really interesting. i think the democrats are really going to have a fascinating convention, because we're going to see them tilt way to the left if sanders gets his way at the convention by swaying the progressive agenda there. deirdre: and, sara, we touched
on this earlier, california is a huge prize. it has lots of progressive pockets. sanders hoping for a win there, maybe that's optimistic, but it's enough to keep being, as another analyst told us one day, the skunk at the party. [laughter] what does this mean for the general election in november? >> well, there's no question as long as sanders continues to stay in, he's the more likable, fun guy to watch on tv, and that hurts hillary in comparison. so as long as he's the spoiler, whatever you want to call it, in the race it allows democrats in particular to see an alternative to hillary. and what we see in the polling numbers is what we talked about earlier, which is that her likability numbers tank particularly with men. >> well, but if i can add, it's hard to see sanders as an alternative to hillary when she's at three million or more votes than he's gotten in this primary cycle. while i do think you could
definitely hear his voice through the rest of the cycle and at the dnc, she is going to be the nominee. i don't think she's going to be as bruised and battered -- deirdre: she has the machine behind her including the super delegates which is why senator sanders has said the system is rigged, and donald trump has even said i do not support senator sanders, but the system is rigged. >> yeah. but he actually is doing better existence donald trump than she is. so -- against donald trump than she is. i'd be interested to see basil's take on that because of the fact he is more popular, more likable, and he seems to be the stronger candidate for democrats in the general election. this is the year of the outsider, and she's very much an insider, and donald trump can paint her that way. >> well, he will certainly try. i will tell you, look, they're both saying similar things, but the system is not rigged in favor of hillary clinton. >> yes, it is. >> listen, we could have a very long conversation about why i disagree with that. but she's been out this talking about issues in a way that is
far more conversant than anybody else in this race. i think as we approach general election, definitely after our convention, when you start to see that matchup, first debate, that's what i'm really looking forward to. deirdre: oh, yes. you'll all be with me then. ashley, sara, basil, thank you for the time, appreciate it. >> thanks. deirdre: supreme court allowing 9/11 victims to go after iran's $2 billion in frozen assets. now iran is demanding the u.s. pay $50 billion for what they say is 63 years of spiritual and material damage caused by the u.s. former house majority leader tom delaware lay with me next -- delay with me next on this very topic. >> there is nothing that ben or the president or i or anybody who was involved in explaining the iran deal to the american public said that wasn't factually correct. ♪ ♪ and i quit smoking with chantix. i decided to take chantix to shut everybody else up
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deirdre: iran is demanding $50 billion from the u.s. to pay for what it says is 63 years of spiritual and material damage. the iranian parliament cited examples of u.s. hostile action towards tehran. on the list, alleged u.s. support for a 1953 military coup and support for iraq in its war with iran in the 1980s. with me now, former house majority leader tom delay. congressman, welcome. is this typical negotiating tactics? that is to say, the u.s. seeks retribution on one account, and then the natural counter is to demand something so outrageous? >> well -- [laughter] i guess this is what we're going to see for the rest of the obama administration, the next few months, where our enemies are going to push the envelope the see how far they can push us. obviously, this is a political ploy that helps them back home
to rant and rave against the great satan. but we've sent them signals. the iran nuclear deal is a huge signal that we'll give in you'll just be nice to us. and they'll continue to push us. i mean, this is a country that's the largest supporter of terrorism that are still holding americans hostage, that have killed americans, that have sent weapons to our enemies, al-qaeda and taliban and actually killed americans, and we're winning to pay attention to this -- we're going to pay attention to this? i wouldn't be surprised, though, if john kerry announced he's going to go back into negotiations with the iranians. deirdre: what is the best possible reset? i hear what you're saying. i never actually spoke with one person who thought that that nuclear deal with iran last summer was a good idea. but it's here. now what? >> well, now what, we'll have to
wait for a new president. hopefully, it's a president that has promised to shred that deal the minute he gets into office. and if you want to reset, you can reset, but i wouldn't reset. i would go avenue iran where everything that we've -- go after iran with everything that we've got as far as sanctions and putting more pressure on them. i mean or, we were just really hurting them, that's why they came to the negotiation table -- deirdre: and we gave them too much. >> yeah. and then we take our foot off their neck. it's just crazy. hopefully, a new administration will put us on the right track. deirdre: congressman, i want to ask you about this tragic air crash that we have been following, it is still a developing situation, but there are numerous countries that need to be involved in figuring out what happened. egypt is one, greece is another to, france is another. we have a role to play, obviously. what is the best way forward for
the u.s. in securing its own air space? >> well, we've got to quit playing defense. after 9/11 george w. bush instinct ily knew that we were -- instinctively knew that we were at war and the only way we were going to protect the american citizens is to go after those that are plotting to kill americans. and look what happened. we were able to keep americans safe for a are long time. now -- for a very long time. now it's leaked into europe and others. hopefully, we can pull together. i doubt it with this administration. but if we can just wait a few months, we can understand that we're at war, pull the international community together and go after the bad guys, clean them out. that's how you stop these kinds of actions and keep the innocent people safe. deirdre: yeah. and to your point, the bad actors are very fragmented which makes them harder to fight.
former house majority leader, tom delay, thank you always for the time. >> thank you. deirdre: phil mickelson to pay back almost a million dollars to the sec, securities and exchange commission. we will bring you the details on the charges of insider trading against him. also, a new poll says two-thirds of americans would have a difficult time covering a $1,000 emergency fee. my next guest says rumors of an economic recovery have been greatly exaggerated. >> anyone claiming that america's economy is in decline is peddling fiction. ♪ ♪ we asked a group of young people when they thought they should start saving for retirement. then we asked some older people when they actually did start saving. this gap between when we should start saving and when we actually do is one of the reasons why too many of us aren't prepared for retirement. just start as early as you can. it's going to pay off in the future. if we all start saving a little more today,
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so the securities and exchange commission said that mickelson logged illegal trading profits of nearly a million dollars on an insider stock tip. the sec wants the golfer to turn the money over to the entity. he has complied. two others were involved in the trade. they have been charged. sports gambler billy walters and the former chairman of dean foods, thomas davis. so according to the complaint, walters had information from davis about an upcoming spin-off. walters then advised mickelson to buy the stock. with me now, my market's panel, jason ratman and craig smith. welcome to you both. jason, one person gets off slightly easier than the other two. why is that? >> you know, i'm trying to figure that out myself. i mean, when i look at various financial professionals, you know, steve cohn, raj rajaratnam, rajaratnam's in jail right now for doing, essentially, the same thing. maybe on a much larger scale.
mickelson, i'm baffledful all mickelson has to do with pay back the money from the trading, and then that's it? he gets to go home with his family? i think he should stick with golf, and i think the sec should hand down a much harsher punishment. deirdre: i was going to say, clearly a slap on the wrist to him. craig, insider trading, believe it or not, is somewhat hard to prove. you have to prove that you got a specific piece of information that no one else has with the intent of trading on it. it can't just even be something that's passing in conversation. why would mickelson do this? he certainly earns a very good living as a pro golfer and through endorsements. >> well, i -- first off, i can answer your question, and jason's right, it should have been punished way more. the reason it wasn't is mr. mickelson has an incredible attorney by the name of greg craig who worked for the obama administration as a white house lawyer. so, i mean, it doesn't surprise me. and if you looked at the reaction during the press
conference, you can clearly tell that greg craig cut mr. mickelson an incredible deal. now, you're right, it's hard to prove insider trading but, deirdre, think about this. this is such a simple one. davis tells walters, walters tells mr. mickelson, hey, you should buy this stock. mr. mickelson owes mr. walters money on bets according to the allegations. he goes out and buys $2.4 million worth of the stock when he's got $250,000 in his stock account, and all of a sudden he makes a million dollars. and all he gets is to have to give the profits back? jason is right. he should not only have to give the profits back, but he should have to pay a penalty. this is -- [inaudible] greg craig, and it's just my opinion -- deirdre: it sounds like a pretty solid one. [laughter] >> well, it's just, i mean, think about it. he works for, he worked for the obama administration. he knows all these people. and, i mean, what else can explain it? i know jason is scratching his
head like i am. if you or i or jason had done this, we'd be in orange jump suits right now. deirdre: i was just going to say, somebody would be making us cakes with files. come back both of you, in the meantime, we thank you both, craig smith and jason rotman. student protesters are swarming california state university to barricade the entrances where he was speaking, conservative commentator ben shapiro suing the administrators. our own adam shapiro with me next on free speech. ♪
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young americans for freedom. cal state university los angeles campus invited shapiro to speak in february. they made the yaf post $620 as a security fee. they don't charge that to every group. they only do that at the discretion of the administration. that's the basis of the first amendment suit. according to the lawsuit, professors at cal state university l.a. encouraged students to prohibit the speech from taking place. so shapiro and students who were members of the club that invited him say their the free speech first amendment rights were violated. the defendants are the university president, also and professor, molina abdulla who put out facebook and tweeted to
students, go stop the speech. deirdre: "making money" with charles payne starts next. charles: egyptair place 804 disappears on its way to cairo. officials are saying the cause is most likely terrorism. joining me now, carl higbie, mercedes schlapp. and captain nash, let me go to you first. a lot of speculation about what's going on here. fill us in on what we do know. >> an a320 took out en route to