office before pendulum swings back. >> i remember they will try to lie about it last week joe biden said the republicans are trying to defund police, we were all here, we remember what happened with democrats pushing for defunding of the police. >> so reckless about whole conversation about policing nobody takes time try to understand what policing is, how it effects public safety how you can't have knee-jerk policy reaction, you have to build up the capabilities the confidence of the public, that doesn't happen overnight you do see change no, not going to give you funding but no real plan that is incredibly reckless maria: no wondered resignationss, police officers new york city huge result of laws in place now, also, what is the respect for law enforcement going for why become a police officer? in an urban setting like this. >> ron desantis trying to get everybody to go to florida

they are going to florida right now next hour "mornings with maria" begins right now. . maria: good monday morning. thanks very much for joining us this morning i am maria bartiromo, monday, march, 20 first day of spring, happy spring, top stories 8:00 a.m. on the east coast a weekend panic details bailouts bank stress expanding to europe swiss regulatorsable enabling ubc acquire credit suisse, waiving rules to support cd credit is tanking in the premarket in u.s., on track for the biggest daily decline, ever. back in the united states, fdic announcing new york community bank will acquire much of signature bank, as fdic movers toward break up plan for silicon valley bank regionals urging regulators

massacre all did deposits at least two years we get into moments with our market panel markets, back-and-forth waiting on fed of course,dow industrials exactly where it closed friday, nasdaq down 2 points s&p lower a fraction ahead of fed two-day meeting, that happens tomorrow wednesday where we are expecting another hike in interest rates, take a look at rates plummeting two-year down 10 basis points 10-year down almost 6 a level 3.374%, european markets are trading higher take a look, ft 100 up 30 cac quarante up 56, dax higher by 87, asia overnight red across the board xi jinping is meeting with vladimir putin in moscow after putin visiting mariupol this weekend hang seng worst in asia down 2 2/3%, president trump says faces a possible indictment tomorrow, by

progressive maternity d.a. over stormy daniels, "mornings with maria" is live right now. . >> we are following breaking news in economy banking ubs takeover of credit suisse, of course, market action joining me right now strategic wealth partners investment strategist luke, thanks very much for being here markets, are back-and-forth all morning long, of course, credit suisse plummeting your reaction to ubacquiring credit suisse. >> i am glad another bank acquiring another bank not complete bailout from government perspective my worry that is the government intervention right now is completely ruining future what is to come government interventions never a good thing you see regional baifrngz asked for sure deposits next couple years, in my world if you are a bad player you get taken out or acquired for pennies like

credit suisse capitalism we live in socialistic world the problem bad players make politicians look bad incentivizes politicians government agencies short term figures with policies. maria: barry knapp why talking about potential for moral hazard the government is doing to secure deposits at regional banks. wasn't there a booir for silicone valley we expected pnc to come in journal reports they were willing. barry: i heard you reported on that sunday morninging. i heard on that saturday. the "the wall street journal" reported subsequent week they did have a buyer but fdic chairman vetoed it yellen powell were willing to go forward would be elegant to sell to another buyer whatever we thought about franchise inability to manage duration

risk pnc pretty good at it. >> what is the problem don't want -- >> they are antimergers going to, grandyism big bad not a consumer standard whether helps praises or markets, this idea the government can solve every problem would have been much better outcome to sell that bank if that was the case, than to try to find a government support for uninsured the depositors, uninsured deposits should have taken. >> it federal reserve sitting on massacre interest rates 15 years, thomas honor irg one dissenter said no, no the too much stimulus one dissenter, on debt ceiling right now, up 31.6 trillion another fight that is going to be another problem for the markets. >> ironically the situation would be worse were we not at

debt ceiling treasury would have been issuing quite a bit more debt, that would have put even more pressure on rates, and they -- who knows where two-year might have peaked where 10-year might have peaked losses could have been even worse. maria: i am saying the policy consequences have been stunning the five trillion dollars borrowing last two years, stunning. >> thank god the house, filmed last november you have a balance in power right now i served on house financial services for last six years in house of representatives most recently chairwoman maxine waters with pressure from her left on that committee had trouble delivering her own people for some votes, there was a desire, to engage in politics try to -- videos -- >> stop pnc from acquiring silicon valley bank. >> elizabeth warren has outsized influence with this caucus there might be a majority of democrats in the

united states senate, the house financial services committee is under a chairman patrick mchenry night and day i hope conducting oversight it isn't knee-jerk bad policy you are heeding good advice from your guests this morning. >> most troubling about a annual budget outlook not that bumping up against debt ceiling might have a crisis it is the inflationary implications of 10-year budget, 5 to 6% deficits driven by transfer payments to individuals next decade that driven inflation is what caused the great inflation of 60s and 70s intractable part of inflation today. >> stunts everybody this spending in covid deficit -- the reduction act rapid introoetsdz in interest rates nobody saw this nobody said

wait a minute we have all inflation, now rate, increases not going to impact banks. >> here we are on doorstep of the fed meeting the fed two-day meeting kicking off tomorrow, tuesday and wednesday, you said earlier, going to be like back being and filling next couple days until we know what fed is going to do futures market pricing in a 60% chance that we will see 25 basis points hike quarter point a 40% chance no hike at all what do you expect? >> i think we are going to have 25 basis point hike, the federal reserve, has been and still is the scapegoat for failed fiscal policy by government, what you guys were talking about no matter what fed is going down as bad guys they posit lose credibility inflation remains high or destroy labor market catch companies on contingency, dominating knows fall both not good as economy deteriorates inflation on employment you will hear every xhat a blame it on federal reserve unfair

that political pressure got us here events doesn't change eyes in regarded to federal reserve perspective, 25 basis point hike to build back credibility system does not work without credibility if they pivot they lose everything they worked towards past year. >> how are you allocating capital you want to buy this market or stay on sidelines given we don't know where this headed in terms of macrostory. >> we're still being very conservative right now short term treasury bills unused cash think dominoes need to fall bailouts unlimited money qe can't last forever history repeats you take more excess out of the system i think what they are going to do. >> much more ahead coming up president trump says he is facing a possible indictment tomorrow, for a payment made to a film, a before her before his 20s 16 run for president all-star panel will react to that when we come right back

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go after him over alleged hush money payment made to stormy daniels seven years ago before 2016 election joining me for hot topics barry knapp michael, lee zeldin i talked about statute of limitations yearly obviously, beyond the statute of limitations, seven years ago your reaction to this. >> right all the other agencies that declined to go after this, we are talking earlier about the investigating what is in their jurisdictions department of justice all other delineations to prosecute you want to bring up -- clearly coming across to average american a political prosecution going to end up making president trump even stronger, than he would have been otherwise. >> elon musk said he is going

to win and in a landslide because of maga martyr. >> i think a lot of people are next level infuriates over this, it brings home it brings out, passion, emotion thought that on edge of the department of justice eitherched in stone when law ends tyranny begins there is a dire for rule of law belief our backbone is rule of law a prosecutor in manhattan refuses to prosecutor violent criminals wants to upgrade a misdemeanor to felony we are in divisive time in country we know that you are going to indict a former president of the united states, unprecedented, these types of charges you know what is going on in new york they are looking at how do you keep things secure, everyone has a right to protest, but right now we know there are

activists saying stir things up that is what they are worried about meeting since friday, to try to make sure they have a coordinated effort to make sure everything is nice -- >> playbook over and offer that we see with democrats something happens to corner them explaining to do, that is what happened with biden family bank records last week we saw 3-million-dollar check go to biden family partner, then next day, distributed to biden family members, so that happens thursday, then this weekend we find out trump is getting indicted tomorrow your thoughts? >> well, i -- i -- your commenting on biden family bank records but i keep thinking about banking crisis, the true juice that, too also is going back to policy. >> true cause inflation problem i keep railing on about being fiscally driven to me monstrous issues that affect everyone, so, trump indictment seems like total -- look the other way at shiny

object. >> central banks now have trade-off do you keep inflation raising rates even though creating a shock in business or do you go for financial stability get out of the away. >> that is the prb i mentioned earlier off the air four papers get prepared at jack jackson hole fourth inflation as a fiscal limit the costs fixing a physically driven problem are prohibit we are finding out bankrupting a numbers of our banks. >> the border more chinese nationals illegally entering united states paying big money to cross into america texas congressman michael mccaul will weigh in on this new element until the middle of this china provocation. back in a moment ♪ stay, stay -- i will be loving

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it will release your fat and it will release you. maria: welcome back, so fox news cameras captured this footage every chinese nationals illegally crossing southern border over the weekend 890 chinese nationals apprehended in one day last week according to border patrol, that is the most number the highest number, and

most single day encounter since 2010 border patrol now reporting a 920% increase in chinese migrant apprehensions compared to year ago rio grande valley 1700 since october these are numbers we know of okay? congressman, the chairman of the foreign affairs committee and texas congressman, chairman emeritus of house homeland security committee michael mccaul with us to talk become that thanks so much for being here this morning. >> thanks maria thanks for having me. >> you know as i have been covering communist china over the last -- 8or 10 years, i know that they have abused our visa process, getting students in here getting students to steal intellectual property send it back to communist china they don't need to enter america through the border do they? >>. no, they don't, normally

infiltrate educational system visa, espionage very good at there not quite sure why such uptick crossing the border illegally, perhaps covid, that they had in country, but any time you see a spike in foreign nationals other than mexico or central america, it is a concern because we're not sure who they are, and like you said we don't know who got in that we don't know about we do know the terror watch liz apprehensions have groan up dramatically as well a clear and present danger not united states our national security we don't have control over who is coming in, and i -- i am which i chaired homeland all time other than mexico who were coming from from say islamic countries, or other foreign adversary nations like china. maria: that is what i am saying we don't know what communist china is up to maybe directing people, to come into

america. to -- to set up shop for some reason for a later conflict what i think about police situations in america xhooument party why need the police force in new york exactly what they have, covid-19, and escape of deadly virus cover-up fentanyl in china what are we doing about recall there? is this a warning signal ccp is planning something in america later has people here? >> you know, it is just again, are would it knowing who they are we don't know who all these people are, it is hard to -- to -- figure that out you know i know purchasing land, in my home state texas there is a bill in my state legislature, to ban prc controlled individuals from buying property. maria: right.

near military bases, maybe agriculture, so you snow it is hard to tell they are very good at what they do very deceptive. >> the foreign nation adversary, with putin now in moscow about an hour, god knows what they are going to talk about they found a chinese drone was shot down in ukraine. they are very much joined at the hip on this effort, i know, pacific and europe i've never seen anything quite like it in lifetime a major threat to europe and pacific from two major foreign dictators we had tabletop exercise yesterday, in orlando on taiwan what would happen if say god forbid china invaded taiwan. it is not very pretty.

maria: well, michael gallagher mike gallagher head of the china select committee told me a couple weeks ago he think they are going to do so next year. in 2024. because we are going to be distracted on our own election taiwan has election do you agree with that? >> i think -- i feel very confident that they are going to try to influence, the taiwanese election next january. and, they are very good at this game they did it in hong kong without a shot fired that will be first plan, if they fail at that, i do think the -- the military invasion is very much on the table they would start with something like a blockade followed massive cyber tactic west coast of united states amphibious landing in taiwan we know taiwan is not prepared

for this, so signed up weapons three years ago they've get to go into country. >> unbelievable they -- we have know deterrents no jo jojo joint exercises with taiwan the question who will help them fight united states japan australia uk the quad? what is the plan here? >> have you gotten answers as far as why you signs off on that equipment and it still has not gone to taiwan? i mean, secretary of state blinken going to testify before highways foreign affairs committee this week i want to know whature planning there chinese president xi jinping in moscow you said there for three-day visit going to meet with putin in about an hour what are you planning, in terms of the foreign affairsk hearing with antony blinken. >> why? why is its taking so long to get weapons in country, when

we sell you know, ally, or somebody like taiwan, or foreign military sale, these are weapons systems they need to did he have themselves why does it take three years why don't we have systems in country right now to provide deterrent to chairman xi from invading the fact is we don't. i don't think he can answer that other than to say defense industrial base system is broken we can't make weapons fast enough. ask why aren't they producing documents. maria: is joe biden stopping? >> no. i -- i -- i mean the fact is, we can't make these weapons fast enough. the new ones, i think that is part of the problem, that you know a little secret in washington maria, well kept secret we cannot make our weapons fast enough to protect the united states, or our

allies, that is just the truth. maria: skra great to see you this morning we so a appreciate your leadership time on all this thank you, sir. . >> thank you, maria thanks for having me. michael mccaul. we'll be right back. . ( ♪ ) the future is here. we've been creating it for more than 100 years, putting the most advanced technology into people's hands. generation after generation. tool after tool. again and again. bringing you the broadest and most reliable network of service dealers. always moving forward. we lead. others follow. - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya?

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. maria: welcome back. good monday morning. thanks very much for joining us this morning. monday, march 20 first day of spring take a look at markets in half an hour ahead of the opening bell rally underway fractional moves higher but reverse from earlier losses dow industrials up 19 nasdaq up 3 1/2 s&p higher 2 1/4 we want to look at first republic bank stock once again tanking in premarketing despite last week we had, 11 banks try to shore up deposits for 30 billion dollars, to depositors stock down 16.8% at 191915 european markets seeing fractional moves higher ft 100 up 28 cac quarante up 56 dax

higher 82 in asia overnight big weak spot hong kong, hang seng down two 2/3% starbucks ceo taking over roll earlier than expected. cheryl: just crossing, this morning maria, starbucks announcing assuming role ceo at coffee giant effective immediately exceeds no i former ceo howard schultz second time stepped down from leadership role at company came back. q. to kind of mix issues going on temporarily we knew starbucks higher a half percent premarket, the president of france facing no-confidence vote this morning after pushing through unpopular pension reform bill raising retirement age from 62 to 46, as the of protest violence across the country hundreds arrested french national assembly vote on two motions today could lead to

resignation of prime minister a pril crisis for the country as hole protesters have been successful in the past, a squashing new legislation like this we could say, back at home california governor gavin newsom, facing pressure to hand out billions in reparations to fate black residents california reparations task force urging governor give up 360,000 dollars per person to 1.8 million black californians who had ancestor enslaved cost 640 billion dollars. critics say it would be a disaster for the state's fragile budget they are already in a fiscal crunch in california. new york state, topping the liz of the 10 most expensive states to retire in. a new report from wallet hub states based on three, supportability quality of life healthcare, surprisingly california not in the top 10, golden state number 36. here are 10 most expensive

states, as you can see, new york, new jersey vermont massachusetts maryland, washington connecticut main illinois oregon all colder places i am voting for florida number two! of the best places to retire. maria: the best the best quality of life. cheryl: affordability healthcare virginia number one florida number two colorado number three. maria: virginia number one huh? cheryl: number one. >> i left new jersey to move to colorado. >> smart we are behind you. maria: you said new york most expensive more expensive raising taxes. >> a process of -- state budget by april 1, here, the governor proposed some new -- taxes, on payroll tax democrats responded by proposing their own new tax increase, so they don't understand why it is state

leading the country in migration people looking for places like florida, texas, the carolinas, tennessee, you had sarah on earlier are requirement money will go further feel safer. >> shocking about colorado we have a democratic governor wants to take income tax to zero, actually libertarian about -- l, -- libertarian. >> higher taxes worst quality of life let's stay in new york state don't for bet wide-open border, fentanyl. maria: good times. >> west virginia soccer player could give supreme court first shot at ruling on a transgender sports case, state attorney general patrick morrisey asking the highest court to step in allow a law banning male student alth lethals who identify present themselves as female from playing in he woman he's sports teams the west virginia

attorney general, himself patrick morrisey ag welcome back good to see you tell us about this case. >> good to see you, maria, this is an incredible case an situation west virginia legislature, got in front of the curve did right thing anticipating a lot of what would happen issues with cleo thomas initiativecaa women's swimming championships west virginia said biological males should not compete in have women's shorts to, ensure women's sports could be advanced immediately challenged interestingly there was an injunction slapped against the law right away after we submitted 500 entries 3,000 pages entries district court judge, democrat appointed sided with us it went to fourth circuit reversed unfortunately injunction placed against law now we think this is a very clean case, because, one

common sense functionality fairns for women opportunities to advance in athletics i think consistent with the constitution and with title nine, we are hopeful the court will see it our way. democrats talking about supporting women, yet, when it comes to -- identifying actual women, they want it to be both, i mean -- i don't understand how we got here, but this will be the first case in front of the scotus, in this regard. >> it will. so, where we are we submitted a couple east coast ago, there has been response going back to court we've asked supreme court to lift injun shurn in place in fourth circuit i know technically view this as procedural issue as well we think we are dead right on merits very hopeful they are going to rule in our favor so we are very optimistic here at the same time we know a case,

that is going up there for the first time, so a lot of people are paying attention. maria: lee zeldin. >> ag morrisey, in bringing this case you are fighting on behalf so many women young girls, parents, i have 16-year-old girls at home, we've been waiting for across the country people in elected office with the courage to stand up and do something about it so i would imagine for you ag you month hearing from many people in home state wet virginia encouraging this with strong support in your home state; right? >> we are. but the real courage is people, young women participating in sports, and stepped up to file, intervenor in this case has spoken out so many, swimmer, we anticipate we could have dozens and dozens young women reaching

out supporting us with amicus brief because they know the importance of advancing women's sports this advancing women's opportunity not discrimination of anyone else. maria: that is you are talking about, just the competition man's body versus a woman's body. >> right. and maria when we submitted the material we showed the data that dictated advantage biologically males have over family even very young stage throughout puberty beyond this wasn't a difficult question for us, because we saw the differences in the data i think that is why you saw district court judge originally sided against us no favorable law, turn around, and issue a are summary judgment in our favor evidence speaks volumes i hope court will respond well, i thank young women standing by us

today an important issue for future of women's sports wum women's leadership. >> thank you for having me on. >> thanks very much i got to get your take on market reaction to all news of the day barry fdic extending the window to acquire assets of silicon valley bank bank credit suisse gets acquired by ubc shotgun wedding look at market dow industrials up 71. >> it is interesting there is also a big question about the et1 bonds of credit suisse bailin bounds swiss government decided to zero out created a rippling credit markets in europe as well, i think really is market starting to think fed is going to get the joke leave room not tighten this week, otherwise -- the developments are -- you know we're down a pretty dark path if we didn't have a fed meeting this week i think the

market would be under the couch i think probably down 3040, points. >> instead people say wait see with if fed gets it and stops raising rates. >> it is a fairly big stretch to think fomc committee very little actual practicable capital markets experience is going to understand, that financial stability is incredibly important here that they can -- monetary policy almost instantly was inflationary stock could turn into broad financial cries household sector in great shape banking system in aggregate good shape there are weak spots because of overlyaggressive monetary policy the way they tightened. there is a vulnerability here could cascade. we are going to brake when we come back being talking with one start-up ceo got money back from silicon valley bank,

after it collapsed, will tell us about his journey you are watching "mornings with maria" live on fox business. ♪ ♪ nges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you.

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joining us right now one of those start-ups co-founder ceo, helps automate grocery store ordering your company had all cash in silicon valley bank, what happened. >> that is right all cash silicon valley bank shocking news over a week ago, that all of our money was lock up we aren't able to access it so it was, i would say last weekend was quite a trip, a wild ride but we got very good news a week ago we got access to all capital, so we are now in a position, where we have access to all of. >> it what do you do did you move another bank where is. >> it two things very interesting about this process first of all we did get access to it we opened a new bank

account moved on all money over to jpmorgan chase largest bank i consider receive a of the risk bank silicon valley bank is in a surprise kind of back up running trying to make it work, so they've got a new ceo, actually like fully functional at this point, quite a surprise, but, you know, many -- cash is in jpmorgan chase are you going to move back to silicon valley bank you say up and running going to withdrews the bank again? >> that is the big question a lot of people pushing silicon valley bank bank to come back come alive. i am not a big fan of that much more a fan of some other banks that have taken more responsible, approach to what they're doing, start-up may

thinks lmercury. >> elizabeth warren calling outs fed role in banking crisis what she said yesterday watch this. >> i am calling for independent investigation of the fed and the whole regulator system here fed doesn't just get to do its own investigation i am calling for fed right now to reverse its weakened regulations, and to bear down to look at banks with much more scrutiny also calling on congress as i rightfully say to roll back the ability of the fed to -- weaken regulations, and calling for ceos to be held accountable. >> she wants more rules in place for the midsized banks, quick barry this going to work? how does that impact things? no, i am calling on elizabeth warren to explain why thened

the exemption for cash and treasurys from supplementary leverage ratio ford jpmorgan bank of america to turn away deposits march of 2021 asset capital wells fargo drove ploen to silicone valley. >> as a consumer, as a client of the bank, when you were seeing all stories breaking, of the bank weighing in on esg some other social policies what was your thought the bank received criticism for, not being focused on, its customers as much, as you know, some of those social political positions with a was your opinion that have as consumer of the bank? >> puts a lots the into question, right because one of the amazing things about this country that it is an amazing place to build a business great place technique an entrepreneur, one of the key things you depend on is the

safe bank. you expect to have a bank where you can keep your ploen that is right place to do it. if we know bank is not functioning very well that is quite a worrisome process, and sounds, reports coming through right now that, you know, silicon valley bank bank was not operating very well not operating in a safe manner so there are a few things need to be resolved. >> got good marks from administration on diversity, and esg governance, so that is whereth their focus was, thank you stay with us. we'll be right back with final comments from this all-star panel. ♪

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out there, and appeal to everybody's heart a great purpose help people with blindness dogs are really, really important. maria: a dogs are so important to us you have a dog? >> have leonardo. >> i have a 13-year-old labrador retriever retired to colorado greatest place to live other than moose threat, loving life in the slow. >> raising puppies for blind. america's vet dogs, president george h.w. bush's dog from right here homegrown in new york. a lot of our veterans posttraumatic stress disorder, service animals providing love for dogs mutual. >> that dusty would be a great help so smart. tells me that every day, a

patriot. >> all right, let's look at markets two minutes before close of the show 30 minutes away from opening bell a rally underway dow industrials up 114 nasdaq up 25, s&p up 11, final thoughts, in this day of energy news out of fed meeting tomorrow, wednesday. >> the problem in banking system is totally of the fed making they being injected too much liquid i was writing it was counterproductive, the way that they had tightened policy, primarily focused on, policy rate opposed to unwinding balance sheet a curve inversion made the banking system less profitable than otherwise, created this problem. good news monetary policy can fix it they don't have assets impaired, like 2008, in could fix policy by cutting rates, and --

>> you don't think a cut. >> not cut but should not raise rates not provide any forward guidance. >> your thoughts. >> former colleagues in congress, be smart it is important to conduct oversight a lot of answers a lot of americans are looking for a push for new regulations new laws can overshoot target make things worse, history can repeat itself with what we saw after the crisis 14, 15 years ago, so i am glad continuation focused on it but the they have to act smart. >> called warren buffett like lehman disaster. >> we talked beforehand so many things going on have a context, you know banks, storm clouds, war on the horizon, all different issues, that yet going to do this thing with trump? >> indict trump tomorrow? two standards of justice stuart: good morning, maria, good morning, everyone. question of the day.

is the banking crisi