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tv   Varney Company  FOX Business  March 16, 2023 11:00am-12:00pm EDT

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look at google, microsoft and c3ai. >> all the the problems in the if banks that were caused by government are now being protected by government. i just call it an incestuous cesspool, and that's how we got to this point. >> i don't think the treasury's really handling this thing properly. if you want to blame people for the bank failures, if you want to try and really put the finger of blame on somebody, look at members of congress who have i routinely voted for all this deficit spending. >> there's a lot of businesses that have become dependent on this very, very cheap money, and now that's started to unravel. some business models is are to break, including some banks. ♪ i'm on top of the world, i'm on top of the world ♪ [laughter] if -- stuart: on top of the world. oh, imagine dragons. i keep saying maybe end ten years ago we had them on the show.
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yes, we did. imagine dragons. i'd never heard of them then -- lauren: did you like that? never heard of you, but welcome to the show. stuart: they were on the show, okay. it's 1 11:00 eastern time, thursday, march the 16th. to the markets, please. that's a turn-around, folks. the dow up 60, and the that is cac is up 108 -- nasdaq is up 108 points. it could be the news from "wall street journal" that jpmorgan, morgan stanley and others are in talks to what they say is bolster first are republic. that's one of those troubles regional banks. the idea that we might be sending some more help the those troubled banks, apparently, encourages the market and we've now just turned a little bit higher. this is helping too, the yield on the 10-year treasury. look at it go down. you're now back to 3.43%. that really helps big tech. i don't know whether it helps big banks or not, but they're doing quite well this morning. they're all up except for citi
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and goldman. bank of america, jp mayor ganger morgan stanley, they are on the upside. okay, now this. . vice president kamala harris cannot shake off the critics. it is endless. maybe she's brought it on herself, but there is a rising tide of, shall we say, concern about the veep's sand thing. here's the latest. she appeared with stephen colbert and delivered another of her easily-mocked world salad ises. watch this. >> was there any cushion the in the white house about -- discussion in the white house about what the blowback would be for approving the willow oil project? people have gotten quite upset about it. >> well, i think that the concerns are based on what we should all be concerned about, but the solutions have on and include what we are doing in terms of going forward, in terms of investments. stuart: okay. when she emerged from the studio after taping the show, she was greeted with shouts of lock her up, shades of trump's talk abouts at hillary clinton.
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remember? -- taunts at hillary clinton. diehard democrats are walking away from her. senator elizabeth warren will not say shing backs her for another run with biden, and gail collins writes about dropping harris from the ticket. the words kamala, removal are right there on the editorial page. this is not good for the country. we have an 80-year-old president, i hate to say it, but life expectancy comes into the equation and so does cognitive ability. if this president had to step down while in office, vice president harris becomes president harris. and given her performance so far, that would be a problem for all of us. third hour of "varney" starts now. ♪ ♪ stuart: jimmy failla joins us this morning. before we go to his commentary, which is going the to be the very good, i might add, i want
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everyone to watch second gentleman doug 'em of defending his wife from this hate-filled environment. roll tape. >> and that one woman who was saved in the holocaust in germany settled in ukraine and is now a refugee again back in berlin. hate is interconnected. you see it in the discourse in the country right now, you see it in the divide that we have. and just going to a school meeting, you see that the hate that is out there. we've got to step up and speak out, and we've got to call out the cowards out there. stuart: jimmy failla, sounds like he's calling parents hate-filled cowards. >> i'm pretty sure kamal and doug met on a dating app called okay stupid. stuart: careful, careful. >> no mart person compares any event in this country to the holocaust because they're the supposed to have the good sense to know they're denigrating the
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real suffering in the holocaust, and there's no comparison to the america we're living in and what was going on many in nazi germany. i'm a parent. st it's not i cowardly to call up and stand up for your kid's right to evolve as a person. my son's 14. at the age of 12 the, he didn't like sports, didn't watch 'em, didn't play 'em, didn't care about 'em. now he's the biggest sports fan to the point i think he's gambling on the games like i was at 14, okay? why. he developed. when you start telling a kid at the age of 5 that they're trapped in the wrong body and we're going to commit you to the lifetime of surgery, medical treatments and drugs, that's cowardly to go along with that because you don't want the societal blowback of conditioning a kid his or her right to evolve. what the left is doing here, they're socially pressuring people into compliance. hey, here's a comparison to the nazis, so you're on that side. no, we're not. what are you talking about? and in no way were the nazis denying people that right, you know? they're terrible. i can't defend them on any point, but this wasn't a point
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of debate back then. it didn't exist. stuart: let's get back to the vice president, cam that harris, let's get back to that -- kamala are harris. i think the country's got a problem in her as vice president. i think the country has a problem. >> are you telling me they're not going to be inspired when she gets up to the podium and says it's time to get going to where we've got to go because we need to keep doing what -- stuart: i don't want to be sarcastic about it. >> me neither. i'm in on the joke, man. and do you know who tried to warn us? the democrats. for all the defenses of racism and sexism and republicans, kamala ran as a democrat, okay, and was polling behind isis when she drop out. she was at 1% in her home state of california, stu, so you can't tell me the democratic party was all in on this ball. we're not the problem -- on this gal. stuart: do does charles payne have anything to say about this at all? >> i will say this, as she was running in the primary, i was on
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a plane with her from d.c. to new york, and you know you recognize someone but you're not sure from where in and, you know, bad luck, i always get the last gate, so we had a long walk. she's jovial, but i had the feeling that she wanted someone to recognize her. i kind of felt bad because no one did. [laughter] finally, i was like, why don't you only come -- come on my show. what show is that again, remind me? >> making money with charles payne on fox business. and she went -- [laughter] stuart: really? >> it wasn't just -- it was anger. >> yeah, of course. >> and that's what ooh worries me about the modern democratic party. they are so angry. that's why they bring up naziism, why they always invoke the word hate. they are so infused with anger that i don't know that this country can be united for a long time. because you have to be willing to drop the anger to listen, to listen and hear someone. it's one thing to let someone talk and you wait for them to
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finish their turn so you can rebut without absorbing what they're saying. when she went -- it told me everything i needed to know. >> well, maybe she's seen the show. [laughter] stuart: that's cruel. >> that was a good one. [laughter] >> i've got to stand my ground. you're sitting next to the charles payne, he looks like a tv star. i look like i installed your tv. i resent this, varney. [laughter] stuart: thank you very much, indeed. we're going to get serious and talk money. we have to talk money. lauren: sharp turn. stuart: look at the markets, please. will you look at that? we turned around, we're going up on some of these stocks at least. the dow, s&p, nasdaq, they're all up on the upside. the dow's now up over 100 points. what to do you make of this movement towards helping first republic which seems to be putting some confidence into the system in. >> i tell you what's happening, i knew this was going to happen, this is all coming out of europe just like the pressures on
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credit suisse? the the ecb hiked rates 50 basis points this morning. that was what they said they would colast month. a little bit of wall street was like, maybe they'll bring. it was all up to christine lagarde, and she said everything mostly wall street wanted to hear, in other words, this might be their last rate hike. she is seeing the so-called lag effect impact their economy. they gave economic guidance that sees inflation going down, gdp going up, so it feels like the ecb is cone. it's giving us some sort of hope that maybe the federal reserve is also almost done. stuart: it's also giving some cover to the federal reserve to raise rates next week maybe 25 the points. they have got cover if the europeans are doing 50. >> absolutely. which is fine. 25 is fine. the key now is will they articulate this is the last one. very -- she now has set the template for jay powell to go in there during the press conference and hint, intimate, you know, things keep going the way they're going, we'll pause.
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stuart: your big worry is that the fed goes ahead and raises rates and we get a recession. >> yeah. my big worry from day one is jay powell's ham-fisted approach which, you know, has created a lot of problems already. you know, i just don't know, if you think inflation's going to take three or four years to get it where you want it to go, do you need to clobber the economy all at once? it doesn't make sense to me intuitively what they've done so far. so forget about whether you're arthur burns or paul volcker, right? we're living in the here and now, and you're hurting real, live people. you're crushing their dreams. stuart: yes. what's the alternative though? if you don't do that, maybe you just let inflation run, and that hurts -- >> when inflation started, he was the one who said it was transitory. every economist said what's the cure for inflation? high prices. naturally, they'll go down. here's the big asterisk, and there's never been one like this before, trillions of dollars have come into this economy. stuart,s going to the take
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years, years for that money to the dissipate. stuart: yeah. we're living with the outcome o- >> free money. free money. free money, yeah. we went from a chicken in every pot to the everybody could be a millionaire. stuart: all good stuff. very good story -- >> it wasn't as good as jim though. [laughter] oh, he left. he hit me in in the head with a club, and then he left. [laughter] stuart: we will be watching -- >> thank you very much. it's improved since he's seen it last. stuart: "making money" with charles payne, 2:00 eastern. aaron rodgers is ready the move on from the green bay packers, yes, he is. watch this. >> i made it clear that my intention was to play and that my intention was to the play for the new york jets. stuart: okay. i'm on again. [laughter] you know that barstool sports' dave portnoy, he's going to have a lot to say about this. i hope so, because he's on the show. branson, that would be sir is richard branson, pausing all
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operations effective immediately. they're report prod -- reportedly firing nearly all of their that staff, and they won't get paid. montana preparing to sue the administration, they want to stop a new executive order that expands background checks for gun owners. the attorney general of montana leading the charge, he's next. ♪ i say you want to be starting something -- ♪ you got to be starting something ♪ you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠.
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i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck.
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stuart: the markets, a rebound. will you look at that, the dow's now up 71. and look at the nasdaq, it is up 139 points. there must be some movers on this one. exxon, is it up or down? hour lauren it's down, but not as much.
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energy's the worst performing sector. the market did turn around. oil's down again today, 15-month lows or near them. it's quelled a little bit, they're still out there, fears of a banking crisis weighing on the command outlook, so oil is taking a hit. stuart: the upside is oil at $66 gives you much cheaper gasoline within a week, and if that's a fact. progressive, is that the insurance people? lauren: a double upgrade all the way to overweight. they're gaining market share in auto policy, and they say the market will reward solid, healthy companies like progressive during credit concerns. stuart: i like the ads. okay. car tree, down. -- dollar' the, down. not much. lauren: they're not selling eggs temporarily. they're not going to the sell eggs during easter, passover, the big command times when you kentucky the eggs. they say they'll restock the later this year. stuart: that's got nothing to do with the stock price, that's got to do with inflation,
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shortagings and all the rest. thanks, lauren. president biden issued an executive the order strengthening background checks for guns. the attorney general of the state of montana joins me now. your honor, what is the president rye thing to do, and why coyou -- trying to do, and why do you object? >> well, there's not a lot honorable about me, stuart, but i appreciate that. [laughter] he's trying to, he's trying to sell unicorns and blue sky here: i mean, largely this executive order is nothing. it's a lot of rainbows and fairy dust. a lot of it is quite meaningless. but there are some things that are quite concerning. he's trying to do as much as he can within his administrative state, but look, he's encouraging the atf to keep colluding with shippers to crack down and make business harder on firearm transfers. we've already seen that the with fedex and ups. you've seen my office and a lot of my colleagues crack down on that and go after those companies, and theying responded. in that's illegal collusion are. i've got concerns about red flag
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laws. we wants to increase red flag laws. those are pretty flagrantly unconstitutional when you're talking about deproving people of their personal -- depriving people of their personal property without due process. there are some things that are very concerning. stuart: and you're going to the sue on the grounds the president cannot make law, he can only respond to the law. that's your basic point here. >> that's exactly right. if there's anybody who should know how law is made, it's a guy who's been in the u.s. senate for decades. he knows he doesn't have the support in congress, and he knows he doesn't even have the support from a lot of his own party members in the u.s. senate. which is why this is largely a toothless executive order. and, look, there are some things in it that are just flagrantly silly, and their ignorance is really showing on this one. you know, wanting to go after this myth of undeeducate the bl firearms -- undetectable firearms, that hasn't been a thing since hollywood made it up back in the 1980s, but he's got it in this executive order. stuart: okay. next one, montana wants to ban
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tiktok. got a new bill that would fine app stores or tiktok $10,000 for each violation and an additional $10,000 each day violation continues. are you trying to ban tiktok outright across the entire state for everybody, and are you getting any pushback? >> yes and yes. we are trying to ban tiktok outright in montana. i, look, i'm all for private business, i'm all for free enterprise, but this this is a chinese communist party tool. they're not even hiding that fact anymore. we know tiktok is used to spy on americans. it's used to look at our eau -- locations, it's looked to find sensitive the intelligence that they can gather off of our pictures, it's used to take facial recognition data, biometric data. they're doing this. so that has got no business being in montana. we do have a bill moving, it's true our state senate. tiktok has finally gotten a little panicky, they've shown up with some chinese communist
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money to pay for some lobbyists here in helena as it moves through our statehouse of representatives. stuart: would you be happy if the chinese owners of tiktok were forced to sell? >> that would certainly make me feel a lot better. if this were a wholly-owned american company, at that point i think we'd probably stand down. but the fact that this is the owned and controlled bydance which is owned and -- by bytedance, yeah, that's a real problem for us here in montana. stuart: got it. austin can knudsen, the attorney general of montana, the only state i've never been to -- >> come visit us, we'd love to to have you. stuart: not, perhaps, in winter. >> you might want to wait. [laughter] stuart: thanks, sir. see you again soon, i hope. next case, pricewaterhousecoopers announced they are going to use a chat bot -- lauren: harvey. stuart: okay. what are they going to use it for? lauren: sounds like a lawyer, doesn't it? stuart: sounds like a rabbit in
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that jimmy stewart movie. before your i'm. ing. lauren: i have no idea what you're talking about. [laughter] artificial intelligence will do contract analysis, compliance work, due kill the generals, all the time consuming work to free up the lawyers. 4,000 of those pwc lawyers will be using this generative a.i. software. no advice from harvey. the hours give the advice. no lawyers are fired because of technology. they all keep their jobs. they're just going to be more available and have more information many in less time. that's the thinking. artificial intelligence is really bad at nuance, at least it is right now. you need a human being. so pwc wants to lead in the. they're going all in. they have this exclusive relationship with harvey, and we'll see how it works. stuart: yeah. i mean, look, i could seest the next big thing, let's see how it's being used. does it work? fine with me. lauren: definitely a human present. stuart: virgin orbit has paused
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all operations for a week at least. lauren: yes. stuart: i don't think the staff are being paid, are they? lauren: unpaid for a while although they could take an annual leave, that's basically what they're trying to work out. virgin orbit, this is richard branson's company, they paused almost all their operations and furloughed almost all their staff, as we noted, because they need to buy time. they need a financial lifeline. today had a failed rocket launch back in january. it was embarrassing, it was costly, and now this. the stock is down sharply today. stuart: elon musk and spacex just pour out ahead. -- power out ahead. texas taking over the school district. democrats say it's purely political. we've got the story. 60-70 million people will bet on march madness this year. barstool sports will get a piece of the action. they just launched a new sportsbook in massachusetts. barstool guy dave portnoy is
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next. ♪ ♪ i was born on the south side of chicago. it has been a long road, but now i'm working for schwab. i love to help people understand the world through their lens and invest accordingly. you can call us christmas eve at four o'clock in the morning. we're gonna always make sure that you have all of the financial tools and support to secure your financial future. that means a lot for my community and for every community.
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stuart: time now for this day in history, american built. on this day, march 167, concern 16th, 1802 the, president thomas jefferson signed legislation establishing the united states military academy mt. at west point. now you know. don't forget to watch "american built," mondays, 99 p.m. eastern only on -- 9 p.m. eastern only on fox prime. i see a nice gain for the dow now, we're up 15 is 0 points for the dow, 170 for the nasdaq. of super's back taking a look at the regional banks. i want to know more about the big banks, what are they doing, bolstering first republic. susan: yeah. so first republic is still down around 27%, already halted several times on volatility. in fact, first republic is on track for a record low close. ing however, just in the past hour the journal reporting that jpmorgan and morgan stanley now among several with big banks discussing a deal with first republic including a capital
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raise, so providing money or a possible outright sale according to reports out there. so either jpmorgan or morgan stanley might even buy first republic. now, we know this was on the table since first republic was cut to junk status the yesterday by standard & poor's, and credit suisse, meantime, we can show you the international banking pressures here, now trading lower despite the fact they got that $54 billion lifeline from the swiss central bank. but the ecb going ahead e to raise rates by 50 basis points this morning because of high inflation. i think that really brought down credit suisse's stock. also that means the fed is probably going to raise at least 25 basis points next week which is a crag can on the markets. -- drag on the markets. i read a really smart note from goldman sachs on the economy and the strategy, and they now put recession risks at a 35% probability. most people on wall street say it's 60% probability. of a recession in the next 12
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months. but also just strategy, where does the capital flight go and what are the second and third order movements because of silicon valley bank's collapse and because of first republic. they're talking about custody banks, do you know what that is? stuart: no. susan: that means you can roll a 2-year, 5-year or 2-year t-bill that you can still access in a bank goes into bankruptcy. stuart: what's social media saying on tiktok? susan: because of a possible ban, users will go elsewhere. you do have meta, i saw snap was up 6.25%, also pinterest are, and d.c. threatening a tiktok ban unless they sell themselves to a u.s. owner. of doesn't this feel like 2020 the again? remember when president trump was forcing a tiktok sale, and they wanted a cut, a commission, you know, for government coffers, give me a percentage of that that sale. so microsoft and oracle stepped up. i'd be more curious to see, if there was a sale, who would step up this time, who has the deep
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projects and who the government will actually let get bigger. stuart: and how much will they charge. susan: tiktok is considered a $100 billion asset. especially with the trillion hours being stream on tiktok. stuart: who's going to step up for that? susan: $100 billion -- stuart: a couple of companies have got it -- susan: there's a company called microsoft. stuart: yes, there is, but if they have to borrow the money, they wouldn't want to do that at 3-4% interest. >> i think the people who have the fun on concern money on the balance sheets are google, apple, apple's not going to do it, that's not their m.o. stuart: susan, thank you very much, indeed. look who's here now, old ebb friend of the show, indeed, dave portnoy. we're anxious to hear what you want to say about svb, and we're going to ask you that after this. oh, sorry.
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i made a classic mistake, newcomer to; the, i'm very sorr- >> it's that old age, stuart, catching up to you. stuart: how old do you think i am? >> well -- [laughter] talk about putting me on the spot, i'm going to go 68. stuart: oh, you're a good man. you get as much time as you like. i'm going to be 7 a 5 in a couple of months -- 75. let's move on. what do you think about svb? >> you know, i don't pretend on the some bank expert, so i did the research on it. my thing is this, and i could be wrong if i understand what their doing. they were basically, you know, attracting risky companies, start-ups, crypto companies. that's their wheelhouse. and, you know, you have more risk when you coto that, right? so -- do that, right? so the way i understand it, i'm glad people are getting their deposits back because i don't think the average joe schmo
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knows what heir getting involved in, but it sounds like you're putting your money more so with the stock market, in a way. you're investing with a company that is taking high risk which i have no problem losing my money, but i like to know that where i'm putting my money or if i'm doing it, i'm investing in trying to make money. that's where i think the confusion is. this bank with thing when banks fail, you know, i really -- it's a tough one because, again, the average joe schmo, i want them to get their money back. but i don't think banks should necessarily be rescued because you're running a bad business. stuart: yeah, but if you let 'em go, if you let 'em go -- >> correct. stuart: -- you get a crash, a monumental crash. >> i agree with you, stuart. i don't pretend to have all the answers. yeah, i don't pretend to have all the answers. but then you look at it, what's going to stop these people -- this is just fundamentally, somebody was bad at their job, too much risk, too much out there. they're the only -- and i get what you're saying, you can't
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have this mass failure because the entire economy will go down. but the other side of it, it really does bother me that people are allowed to basically run bad businesses and then get rescued to a degree. that's not right. stuart: yeah, fair point. let's talk barstool sportsbook with. you just opened in massachusetts in time for march madness. do you think that's going to take business away from the if office brackets? >> uh, no. they're different things. the bracket people, those are little tom, dick andlys in their -- harry in their office pools who never watch a game, and they like uniforms. the gambling is for people who like to bet on the individual games. you can't, as far as i know, really fill out a bracket on any of the sportsbook. that's not legal. so the other stuff, no. two different types of gambling. stuart: okay. if i bet on march madness through barstool, your sportsbook, can i bet and place different bets during the game?
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look, i often go to the a bar and watch my friends bet on premier league soccer, and you can bet who scores the next goal. was that offside or not, you can do that kind of thing. will you be able to do the same thing in basketball with barstool sports? >> yeah, absolutely. that's the beauty of the online. you have your phone, you can bet if one team falls behind, they'll come back, you can bet who's going to score the first 10 points. the spread is constantly changing. live gambling, you can do it 24/7. by the way, stuart, i am a -- [inaudible] fan, i want him out. stuart: tottenham? >> exactly. you just said you're a premier league guy. did i go to too fast for you? stuart: it's old danger, dave -- age, dave. who's going to win, arsenal or man city? >> i hate both those teams. the arsenal fans, they're disgusting. this guy, troops, is one of the worst with humans you'll ever
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see. i hope man city gets past them, but i don't know that they're going to. arsenal's had a good run, unfortunately. stuart: very interesting to see dave portnoy following premier league soccer so closely. you do well. good stuff. i've got to talk to you about, what's his name, aaron roj to jers. says he intends to the pray for the new york -- play for the new york jets next season. do you think that's the right move for rodgers? >> no. the jets, listen, the jets are going to stink no matter who's there there. they've stunk for the last hundred years. aaron rodgers, who, you know, i like is it's one thing to play against the bears and the lions every week. you come into the afc east, you're going up against bill bell check, the greatest -- bill belichick, the greatest coach of all time. i wish him luck, but he's going to get his brain kicked in. stuart: do you think tom brady will unretire again? >> no. he commented on it, there were rumors about that. no, i think it's deaf the
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anytime this time. stuart: okay. real fast, i want to talk to you about the comments made by don lemon. he said nikki haley was, quote, not in her prime. what do you think would happen to you if you said that? >> my hands would be behind my back, i'd have cuffs on me, and they'd throw me off the side of a mountain if i said something like that. those are crazy comments. but, yeah, if anybody perceived as conservative said that, it's world war iii. he did get some grief for it, but what an idiotic thing to say. whatever, just a really dumb comment. and it was, i mean, he got in a little trouble, but if that was said on this network, fox, forget about it. that would not go over well. stuart: i could, of course, put it down to old age, but i wouldn't say it in the first place. hey, portnoy, you are all right. we will see you again soon. >> all right, always fun. stuart: thanks, man. we've got a restaurant's job posting, and it's getting a lot
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of attention. watch this. >> please do not apply if you have no sense of humor or can't handle skillful sarcasm. you accidentally got on the plane to vegas, you haven't surfed in a while and you have a headache after going to too many garage sales. stuart: don't use those excuses. the ad also warned people not to apply if they have big egos or bad attitudes. san francisco's reparations plan getting unanimous support from the city's board of supervisors. it would give $5 million to every black resident. leo derell thinks that's a terrible idea. leo is next. ♪ she's right on the money ♪
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nigerian. i got a lot of this from you. the more you learn the more you want to know, and then it just fuels that fire. it filled my soul to be honest.
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with a proven management team and board, a tight share structure, and a solid cash balance, u.s. gold's portfolio of world-class assets are creating american growth and homegrown strategic metals as the us moves towards an electrified future. u.s. gold corp. permex petroleum is leading the charge in the prolific permian basin with an attractive portfolio of oil, natural gas, and royalty assets. with expanding drilling operations and plans to uplist to the nyse, permex petroleum is poised for growth. stuart: silicon valley bank donated a lot of money to black lives matter over the years.
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how much? lauren: over $73 million -- stuart: what? lauren: -- to the social justice causes. to social justice causes. that was in the wake of the george floyd protests, and the company bragged, you know, top-down, two-thirds of their work force including their board met these diversity criteria. i'm not surprised, california bank, socially popular. the problem is now they're in business trouble, and the question is were they distracted. were executives too concerned about diversity, gender, climate that they missedded the financial problem. stuart: what the devil is a bank doing, $73 million, to social -- lauren: they were encouraged ooh. would it surprise you that signature bank put almost a million collars into similar cause -- dollars into similar causes? stuart: no, not at all. thank you. san francisco's board of supervisors expressed unanimous support for a slavery reparations program. one proposal would give black residents $5 million each.
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leo terrell joins us now. seems we are negotiating a price here rather than debate the principle of whether for the it should paid or not. they're starting at 5 million. sounds like that's their opening bid in a negotiation. what do you say? >> i say this, i say this is pandering to black democrats in san francisco and if throughout the country if gavin newsom runs for president. of stu, there is no calculations to come up with this number of $5 million. and just because of skin color you are going to get a check for a 5 million? stu, the mayor of san francisco's black. how is she a victim of slavery? if there is never been slavery in san francisco, how can you have victims? how? st the impossible. stuart: $5 million is their opening bid. i'm suretail come down from there, but -- they'll come down from there, but should they get anything? >> here's the long answer, no.
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and i'm telling you on your program, i would be the first lawyer filing a lawsuit. it's unconstitutional. it violates equal protection. it's racist. it's discrimination against every non-black san franciscan. i would be filing a lawsuit. i'm a civil rights attorney. this is gym that story -- discriminatory, it's racist, and met me tell you on your show, t it will never pass. stuart: it's also vote-buying, in my personal opinion. do you agree with that? >> absolutely. targeted for gavin newsom and his presidential run. the democratic party is losing black men. they're leaving the democratic party such as leo terrell. i left the democratic party or two years ago. stuart: okay. you're a former teacher, so what do you make of this one? the state of texas has taken over houston's schools after very poor achievement by their students. this is a republican state government take over a heavily democrat city. what's your reaction to that? >> oh, oh, bravo. bravo. [applause] let me tell you why.
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there's a pattern and practice, stu, of chem do contact cities -- democratic cities, los angeles, chicago, philadelphia, baltimore and houston where they, these schools are poorly run, and is they're run by people of color. and the problem is simply this, the teachers' union is more important than the students in these school districts. and i applaud the governor. let's have school choice. let's break up these teachers' unions. these school districts cater to teachers' unions. why? because they're democratic agents of the democratic party. these kids, people of color, do not learn in democratic school districts. and education, stu, is the key to break the poverty cycle. stuart: minority kids are falling behind in new york, chicago, philadelphia, los angeles, etc., etc., etc., but you'll never get a state takeover in those areas because they're democrat, they're run by democrats. never happen. >> yes, absolutely. stuart: so our children, all of us, will have continuing low
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achievement in school. and we're not doing the much about it. >> i'll tell you, stu, the reason why i'm on your program right now is because my parents pushed education. i recall a time when public education was a great way to get a good job, and i'm proud of my public education. but that was 30 years ago. but i'm telling you now that the public education system in democratic cities suck. tear horrible. they're absolutely horrible, and they cater to the unions. stuart: we know how you really feel, leo terrell, and i'm glad you came on this program to express it. big smile. you're all right and thank you very much for being with us, we appreciate it. >> thank you very much, stu. stuart: on your screens now, the dow 30 stocks' state of play. well, the buyers are back. look at that, about two-thirds of the dow 30 are in the green, and the cow itself is up -- dow itself is up above the 3 2,000 level again, up 136 points. a pancake house in new orleans struggling to keep the doors open, and it's not just because of inflation. crime scaring away the regulars
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and the tourists. the owner joins me next. ♪ everybody's got a hungry heart, everybody's got a hungry heart. ♪ lay down your money and you play your part -- ♪ everybody's got a hungry heart ♪ detect this: living with hiv, i learned i can stay undetectable with fewer medicines. that's why i switched to dovato. dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. detect this: no other complete hiv pill uses fewer medicines to help keep you undetectable than dovato. detect this: most hiv pills contain
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ask your doctor about switching to dovato. everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network. only from xfinity. the future starts now.
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stuart: a new job posting for a restaurant server getting a lot of criticism online. people are calling it unrealistic. take me through it. lauren: i love it. i think it's dead honest, and it cuts to the chase. there's a woman in arizona, she's looking for a job on craig's list, and this is what she comes across. >> please do not apply if you have no sense of humor, have no alarm clock, oversleep, have a cell phone battery that dies constantly preventing us from contacting us, have to give friends rides to work later than we have to work. you woke up in a good mood and didn't want to ruin it. you've been at the casino all night and still have money to play with. lauren: i feel bad for that restaurant other than. stuart: are those the excuses that she's been hearing? lauren: it sounds like it it sounds like they keep trying and trying and trying to hire people
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who aren't are working to out. stuart: it's very tough running a business in a big city these days. betsy's pancake house has been a staple in new orleans for 35 years. inflation and crime making it almost impossible to the stay in business. mary more cock is the owner of betsy's -- murdoch is the owner of betsy's, and she joins me now. are you close to closing, betsy? >> yes. yes, sir. stuart: how much longer can you hang on, do you think? >> i have no idea. we just make it day by day. stuart: okay. are workers afraid to come to work? >> we are having trouble keeping people working, yes. stuart: is crime the problem? >> crime is one of the problems. people are scared to come into new orleans, and i have no idea what happened to all the workers that used to work. they just are not here. stuart: what about tourists? are they not coming to the city?
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>> yes. the tourists are coming, but we do not usually advertise to the tourists. we've always been a local business. stuart: okay. >> [inaudible] stuart: i believe that crime is personal to you. would you mind sharing your story? >> yes,es. stuart: share your story, please. >> yes. in 2008 someone broke into my mom's home, and they beat her to death. they tried to get into a safe, and she kept telling them she didn't know how to open it, and she really didn't, or she did not have the combination to it, and my stepfather was deceased. stuart: we want to thank you very much for coming on the show. we understand the problems of running a business in a crime-ridden city. mary murdoch, we wish you the best of luck and hope to see you again.
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>> okay. thank you very much. stuart: you've got it. it's thursday and time for the trivia question. heres. when kid the the color -- did the the color green become officially associated with st. patrick's day? when was it? the answer after this. ♪ treasure burger and fries... soup and salad. thank you! like your workplace benefits and retirement savings. with voya, considering all your financial choices together... can help you make smarter decisions. for a more confident financial future. hey, a tandem bicycle. you can't do that by yourself. voya. well planned. well invested. well protected.
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what causes a curve down there? who can treat this? stop typing, and start talking. it could be a medical condition called peyronie's disease, or pd. you're not alone, there is hope. find a specialized urologist who can diagnose and treat pd. visit today. stuart: when did the color green become officially associated with st. patrick's day? the years on the screen. what are you picking?
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>> 1688? stuart: i go with 1643 i haven't got a clue. totally wrong. 1798. green became popular during irish rebellion. the green clover was symbol of nationalism. before green, the color was blue. this is turn around, folks. main investors feel the crisis, bank crisis has been contained by the swiss over there and by the authorities here in america. maybe. dow is up 200. don't forget to send in the "friday feedback." email us at varney viewers at foxx dot-com. that is it for me. that's it for varney and company. guess what, "coast to coast" starts right now. ♪. neil: meltdown, smelt down, banks looking shaky but european banks are no


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