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The Five

Are we about the see another global financial crisis?

This is a rush transcript from "The Five," August 24, 2015. This copy may not be in its final form and may be updated.

DANA PERINO, CO-HOST: Hello, everyone. I'm Dana Perino along with Kimberly Guilfoyle, Geraldo Rivera, Jesse Watters, and Tom Shillue. It's 5 o'clock in New York City and this is "The Five."

Another rocky day on Wall Street and on trading floor it is around the world, as markets took a major dive with investors skittish about China's slowing economy. The Dow plunged more than a thousand points, just minutes after the market opened. It did down -- it did managed to partially recovered during the day closing down 585 points. The White House says the president has been brief on the global turmoil and attempted to ease concerns about our own economy.

(BEGIN VIDEO CLIP)

JOSH EARNEST, WHITE HOUSE PRESS SECRETARY: There's no doubt that the global economy is more interconnected than it's ever been and there are a variety of reasons for that. Technology is not the least of them. But what I would encourage people to evaluate is the ongoing strengthen resilience of the U.S. economy.

(END VIDEO CLIP)

PERINO: Here now to help explain what this means for you is markets reporter, Trish Reagan. She hosts The Intelligence Report with Trish Reagan on the Fox Business Network at 2 p.m. eastern. And I'm so glad that you could join all of us today because we need to be -- I mean, we need an expert to help us walk us through this. This I wanted to ask you, it used to be that, there was a saying that if United States economy sneezed, then the world got a cold. Is that no long operable? Like if China is struck with the flu, is the rest of the world going to feel it?

TRISH REGAN, FOX BUSINESS NETWORK: China is pretty big. It's our third biggest trading partner, so China matters. That said the U.S. economy isn't doing so great. I mean, we're sort of (inaudible) about 2 percent growth, so we're not on very stable footing. You couple that with the fact that Europe's a mess, China's a mess, and all of a sudden you got people saying, "Uh-huh, maybe this stock market has been bid up too much and they start pulling money away." I mean, it's kind of funny because you said you know the market recovered. And we're saying recovered, it was down 585 points, my God. I mean, when you saw earlier today what a massive selloff it was so quickly, so fast, five minutes into trading, and we're down nearly 1100 points, it shows you that people are fearful right now.

JESSE WATTERS, GUEST CO-HOST: Very, very scary out there. I think the only thing keeping Obama afloat right now is the stock market to double under his tutelage. I mean, Wall Street done great, Main Street got slaughtered. You know the feds been juicing the market with you know, cheap money and little rates but, you know it gets to the point where when the bubble bursts and Main Street goes down as well as Wall Street, that's when people come out with the pitchforks and it can get painful around here. Right now, Trump's out there leading the pitchfork charge. He's out there saying, you know, China is you know, flooding the zone with cheap steel and they're stealing all the oil and they're stealing our jobs.

(CROSSTALK)

WATTERS: And I think a lot of Americans right now are saying, "The president is not doing enough to protect us." You know, they're stealing the secrets, they're stealing the jobs. Now they're stealing from the 401(k). Does the president have tools to protect the American worker when China heats up and melts us down with?

REGAN: The president does and the president is the leader of this nation. And the president could be doing a lot to try and bring both sides together and the put through policies that actually will make a difference in this economy. I mean, we've got a nation that has faced a government shutdown. We've got a nation that dealing with lots of regulation, corporate taxes highest in the world, all of these are economic policies that are hindrances for our economy right now. If the president should show some leadership and really tried to move the economy in the right direction through lower taxation et cetera, I think that would make a difference, but he's not gonna do that.

WATTERS: He's not and obviously not.

PERINO: K.G., do you have a question?

REGAN: And that's the only game in town, right? I mean (inaudible) out there saying, OK, we will just keep cutting rates and we will keep putting more money into this economy. And guess what? It's not working. All it is doing is creating an asset bubble in stocks.

KIMBERLY GUILFOYLE, CO-HOST: So what do you tell investors at home? People that are you know, average citizens and worried about their jobs, worried about their (inaudible) and I'll see this fluctuation in the Market. How does it impact them and what do you see the long-range impact?

REGAN: You know I think, you know, and I'm gonna on a limb (ph) here. Alan Greenspan said this to me the other day on the show that we could be facing an asset bubble. He's concerned potentially about a debt bubble. That's bubble are basically, what we saw in 2008, so that's certainly not good. I say, you know even, you look at the stock market right now it's hard to justify such high, high valuations when sales growth just is not that strong. I mean people aren't out there something, they don't feel confident in their jobs. They don't feel confident in the economic growth, so they're not buying. So -- looking at where the market has been over the last six- plus years, I don't think the economy and the markets have been aligned. So I'd tell people be cautious, I mean, watch very cautiously what's going on right now. And the reality is you've got to be invested for the long term, but it's questionable as to whether or not this market can keep moving higher given the lack of growth we have in our economy and the global economy.

GUILFOYLE: That's important right now.

TOM SHILLUE, GUEST CO-HOST: Why.

GERALDO RIVERA, CO-HOST: You know its funny how that story changed so much, so quickly, they were talking about Dow 20,000. You know I lost so much money today that I had to ask Jesse for lunch money.

(LAUGHTER)

WATTERS: There's no such thing as a free lunch.

RIVERA: You know I have to work till I'm 150.

GUILFOYLE: Yeah.

RIVERA: To pay off all of these. I think that, you know, he -- because he - - that is his want, brings in President Obama and presidential policies and so forth, isn't it true Trish, that you had today is, you had China, which has been juicing its own stock market, feeding its own stock market, buying common stock to prop up its own stock market, and to spread that middle- class wealth and the world second biggest economy, our third biggest trading partner, but the world's second economy, China just went bust. I mean, it wasn't Obama's fault, it's the Chinese. The Chinese president is coming here shortly. I mean, we should ask the Chinese president, what the hell is going on with China? I mean are these companies for real or is the hosting just a big sham? I remember when Thailand and the Southeast Asian Tigers economy was everything. Then it was the Japanese were buying the yellow peril buying. You know, Rockefeller, now it's the Chinese. I mean, these other nations that we have very little control over, now at their peril have played the game of capitalism, and now they've been burned and they're going to scorch a lot of us in the process, aren't they?

REGAN: You know the tricky thing in all of this is it is going to make Chinese goods that much cheaper here in the U.S. They're going to be exporting more to us. So the good news is, when you go Christmas shopping for your kids this winter, you can get better deals, maybe on some of those Chinese toys coming in. The bad news is, is that what does it do to our industry if it is that much cheaper, again, to manufacture offshore and to bring in all of these goods from China. So it will feed into that argument that we are sending manufacturing. We are sending jobs over to China. As to whether or not the president can control what happens in the Chinese economy? No, of course he can't control it, but there are other things. I mean, we struggle with China in terms of hacking, in terms of privacy concerns for American corporation in terms of our own intellectual property. I mean, I have -- people I know that are saying, you know, maybe I'll do business in China. Maybe I'll start this thing over in China and then they say to themselves, if I do, I run the risk that my intellectual property, something I've created is gonna be stolen. I mean, this is something that American corporations are facing on a regular basis and this is something the president could do something about.

PERINO: Shillue.

SHILLUE: Why does it happen all at once? Why is the -- we've known about China for years. We keep talking about China how they fudging their numbers. Why does it just tumble all of a sudden?

REGAN: It's amazing. That's a very good point. And I think it's because selling to get selling. Investors, they tend to think in kind of a herd mentality. I mean, look at '08. We were warning forever that the market was a disaster before the bottom fell out. For other people were talking about subprime mortgages and why this could cause us.

PERINO: For years.

REGAN: That collapse. And nobody did anything because as long as the music keeps playing, everybody keeps dancing. As Chuck Prince, the former head of Citigroup once said. And that's exactly what happens. So I think today was a bit of wake-up call. You had a tough week last week. Today, people came back from the weekend and they said, "This is for real. This market is overvalued and I want out."

PERINO: And of course, politics is inevitable in all of this. We're in an election year. And let's take a look at a quick compilation of sound from some of the candidates today.

(BEGIN VIDEO CLIP)

CHRIS CHRISTIE, 2016 GOP CANDIDATES: Because this president has run up more debt than any president in American history that debt has been given to us in large measure by the Chinese. And so now, as the Chinese market tends to have a correction which they were doing right now, it's going to have an even greater effect.

DONALD TRUMP, 2016 GOP CANDIDATE: I've been telling everybody for a long time, China is taking our jobs. They're taking our money. Be careful, they're bringing us down. You have to know what you're doing. We have nobody that has a clue.

CARLY FIORINA, 2016 GOP CANDIDATES: I've been expecting a correction for some time now because the underlying fundamentals of the U.S. economy, are not that strong, 2 percent growth is pretty lackluster.

(END VIDEO CLIP)

PERINO: And then also this afternoon, Kimberly. Scott walker, the governor of Wisconsin who is a presidential candidate called for President Obama to rescind an invitation to the Chinese president to come to the White House, which I think was a little over the top.

RIVERA: Why he should just beat them up.

GUILFOYLE: Well that's just.

RIVERA: He should beat them up.

GUILFOYLE: Yeah, that falls into the unhelpful, you know category. What he should be doing is.

RIVERA: True.

GUILFOYLE: Start sitting with advisers and try to figure out how to strengthen the U.S. economy, so we're not tossed into the wind like a kite, every time there's a fluctuation with China or another country. So do we have a little bit more stability, and including -- encouraging people to do manufacturing everything here. So operating as an incentive, so we don't see what is gonna happen, which is Chinese markets and goods dropping in price. People are buying those, less opportunities for American companies and corporations to encourage that manufacturing here.

REGAN: Can I? Kimberly. There are not a lot of reasons other than you know this is a tremendous country. This is a wonderful country with the world's biggest economy, but if you're starting a new business and you look at for example, the tax structure that we have here. You know, you're going to say, "I don't know if it is worth starting there if the government is constantly gonna penalize me in a way that, say, other countries like even Canada won't." So there are things that this administration can be doing and suggesting to be more business friendly, but we have.

PERINO: But what about our own fed? I mean we've been.

RIVERA: Exactly.

PERINO: We've been at zero percent interest rates for years and now been inching towards -- increase in that. They were about to do and now going to have an excuse to not do it again.

REGAN: That is exactly right. I think this is a little bit of a temper tantrum to certain extent, as well from investors because now the fed sitting there and saying, "Oh gosh, if we raise in September, then the bottom could fall out from under us, it has it already. So that's a very important point in all of us too.

RIVERA: But you have $2 a gallon gas. Why can't people go out and start businesses based on the fact that transportation would be so inexpensive?

REGAN: People aren't spending, Geraldo.

RIVERA: And 2 percent growth maybe lackluster, a lot better than the rest of the world where there, you know they are going in to the toilet, in Europe for example.

REGAN: They aren't spending that money, so they've got extra money in their pocket this week.

RIVERA: So people are just saving it.

REGAN: They're saving. They're scared. They're fearful.

GUILFOYLE: They will feel confident.

WATTERS: Yeah.

REAGAN: That's it.

WATTERS: And I don't think we should be aiming for 2 percent growth, Geraldo.

RIVERA: I'm not.

WATTERS: And we say the president doesn't have any tools. The president did nothing when China re-racked the currency last week. He just played golf in the vineyard. So I think.

RIVERA: Why would do have to have him do?

WATTERS: Well I mean I wouldn't bow to him. I wouldn't let him dump cheap steel here. I wouldn't pivot to Asia.

RIVERA: That's like blaming George W. Bush for '08?

WATTERS: I wouldn't pivot to Asia and then get hacked.

RIVERA: Did you blame George W. Bush for '08?

WATTERS: I wouldn't let China steel the oil from Iraq because of the Iranians?

RIVERA: Let them.

WATTERS: There's a whole host of things you can do and the president has been in sleeping pill.

RIVERA: It's not going to save the market from what happened today.

WATTERS: Well it could -- it shields the investors from these meticulous wings.

RIVERA: If you think what happened today was political rather than financial panic is what it was. It was a bunch of lemming.

WATTERS: It's a long time coming, Geraldo.

RIVERA: A bunch of lemmings running in the same direction.

PERINO: We're going to let you fight this out during the commercial break.

SHILLUE: He does not gonna buy him lunch again.

PERINO: Not gonna buy him lunch. Can I just ask you Trish, wrap us up here and quickly, what do think -- what do you expect in the morning?

REGAN: I think it is going to be another volatile day. Buckle up. It's going to be pretty interesting.

WATTERS: To buy you lunch (inaudible).

REGAN: And I think there is a lot of emotion in all of this.

GUILFOYLE: It means you're broke again.

(CROSSTALK)

WATTERS: He has (inaudible).

(LAUGHTER)

REGAN: Not necessarily down.

RIVERA: Subway. I don't get the one foot. I get the little six inch.

PERINO: Al right, you heard it here from Trish Reagan.

GUILFOYLE: Oh God. Warp.

PERINO: Trish, thank you for joining us to let having you on The Five. Catch her on The Intelligence Report, weekdays on the Fox Business Network at 2:00 p.m. eastern.

Next, three American heroes are awarded France's highest honor after preventing a massacre on a European train. Hear them tell their incredible story, when The Five returns.

(COMMERCIAL BREAK)

GUILFOYLE: It was either you do something or die those words from one of the three American heroes who were able to subdue an armed gunman on a train in France on Friday. Here are Spencer Stone, Aleks Skarlatos and Anthony Sadler on the moment that was saved many live, including their own.

(BEGIN VIDEO CLIP)

SPENCER STONE, U.S. AIRMAN HELPED STOP TRAIN ATTACK: I kind of just woke up from the middle of a deep sleep and my friend Anthony -- I mean, Aleks was sitting to me. Anthony was across to my right side and I turned around and I saw he had -- what looked to be an AK-47 and he looked like it was jammed or it wasn't working and he was trying to charge the weapon. And Aleks just hit me on the shoulder and said, "Let's go." And ran down, tackled him. We got the ground. Aleks came up and grabbed the gun out of his hand while I put him in a chokehold. He seem like he was ready to fight to the end so -- so are we.

ALEKS SKARLATOS, HELPED STOP TRAIN ATTACK: We just kind of acted. There wasn't much thinking going on, at least on my end. I don't know about them. Spencer?

STONE: No, not at all.

(LAUGHTER)

ANTHONY SADLER, HELPED STOP TRAIN ATTACK: The gunman would have been successful if my friend Spencer had not gotten up, so I just want that lesson to be learned going forward in times of like terror like that to please do something. Don't just stand by and watch.

(END VIDEO CLIP)

GUILFOYLE: Amazing moment. Today, the three friends were awarded France's highest honor by President Hollande along with a British businessman. The suspect, a 26-year-old Moroccan is in custody. Investigators are looking into his ties to radical Islam. He had once been placed on a security watch list.

All right, so Geraldo, we're getting some more developing facts, information, you know about this scenario, but obviously incredible moment and it just shows the world again, once more that Americans always step up and answer the call.

RIVERA: It reminded me of 9/11 when the passengers rose up in mid flight and said, "Let's go." That's what American should do.

GUILFOYLE: No, let's roll.

RIVERA: That's what -- let's roll. That's what American should do. We should roll. We should never allow something like that to happen. Better to die trying to prevent something or save, you know your fellow innocents. The people who are perpetrating these actions take your surrender as incentive to commit more mayhem and murder. Inflict more pain and suffering. Never surrender. Keep fighting, fight to the end. I salute these three guys and everyone else who helped. I just wish I could have helped pummel them. Pummel that.

GUILFOYLE: Need one in on that, for sure. All right, Jesse.

WATTERS: That's very well said.

GUILFOYLE: Great moment.

WATTERS: It's not the first time Americans have saved the French, probably not the last time. And I'm just shocked. I thought the war on terror was over. Didn't the president say the war on terror was over? Surprised by this, surprised that the attacker was Muslim, really, really concerned. I wonder what motivated this guy.

PERINO: He said it was just a robber.

WATTERS: Yeah, just as robber -- you know, I guess we'll never know since we're not allowed to waterboard these guys anymore. And you know since Obama put the Iranian inspector of nukes sites, may be Obama want this guy interrogate himself. And if only this guy had a job, that's what these guys need, right? And the president said, (inaudible). If this guy had been employed, it would have been fine. And didn't Martin O'Malley.

GUILFOYLE: Who is out there.

WATTERS: To say climate change creates terrorism. So if we just reduce our carbon footprint, this guy.

(CROSSTALK)

RIVERA: And what about the American heroes, big show? What about the American heroes?

PERINO: It hasn't mean to Common Core (inaudible).

WATTERS: It wasn't -- American heroes, absolutely heroes. I'm surprised it wasn't the U.N. Peacekeeping force that stopped this guy. They are usually out there. Americans aren't the ones that cause terrorism, Geraldo. You know that the U.N. is the ones that bring peace in the Middle East.

GUILFOYLE: Yeah, that was on the memo. Is that one, right?

RIVERA: Now we have that cleared up.

PERINO: I adore you. There's no issue you would never bring up.

RIVERA: Me?

GUILFOYLE: Jesse, well done because you boom, boom, ticked off that list without even looking down at his nose. Love it. Way to rant.

SHILLUE: They still they don't say they're heroes, though. They asked them, "Are you heroes?" They all say, "No, I'm not a hero." Why don't they -- why doesn't anyone say, "Yeah. Yeah, I was a hero." I mean.

PERINO: Well because they're Americans and Americans are humble. Americans are great.

SHILLUE: I know. I feel like I couldn't resist, though. I'll be like, yeah.

(LAUGHTER)

SHILLUE: Yeah.

(CROSSTALK)

WATTERS: Yeah, where did you put the medal?

SHILLUE: Exactly.

PERINO: Actually, it's interesting that the three of them happened to be there, OK? And that they were willing to get up and do something as long -- as well as the British citizen. Those four were named. There's a French citizen who also tackled the man in an incident who wants to remain anonymous.

RIVERA: His name cannot find like.

PERINO: No, there's a French-American -- well, I don't know if I have that one. There's a French- American also.

(CROSSTALK)

PERINO: That's a different person. They're still yet.

GUILFOYLE: Geraldo would him.

(LAUGHTER)

PERINO: Even if they don't want to be named and I.

GUILFOYLE: Right.

PERINO: I would wonder if (inaudible) because of humility or something else. The other thing I would point people to is, Charles Cooke of National Review wrote a piece today, reminding everybody that as soft targets increase in number, then civilians are increasingly going to have to take the lead in responding.

RIVERA: Definitely, definitely. You cannot let something like this go unanswered. You absolutely cannot. It just encourages them. It emboldens them. Bullies are always fueled by cowardice, by retreat. You know, you get in their face. You get in their face, you do it.

GUILFOYLE: And you know who I go of the sentiment? This is my favorite piece of sound. Best interview of the day. This is Emanuel Skarlatos. This is the father of one of these American heroes, and this is what he was dropping the knowledge on MSNBC, earlier today.

(BEGIN VIDEO CLIP)

EMANUEL SKARLATOS, FATHER OF ONE OF THE AMERICAN HEROES: It's better to die like a lion than be slaughtered like sheep. And this terrorist coward deserved what he got. And the PC crowd needs to recognize terrorism for what it is.

(END VIDEO CLIP)

GUILFOYLE: See, Jesse?

WATTERS: I mean.

GUILFOYLE: This is the truth.

WATTERS: That is the truth. I mean, Caitlyn Jenner is a hero, right? What does that make these guys? I mean, these guys are amazing. The New York Times has been attacking, the military attacking police. Next time, something like this happens, I mean, I don't -- I've never seen The New York Times editor stop a terrorist attack once in my life. So It's time to let's roll.

RIVERA: I mean, why can't this be about these three guys? Why does it have to be about everything else?

WATTERS: It is about these three guys, Gerald.

RIVERA: You know what.

WATTERS: These guys are amazing. They are heroes.

(CROSSTALK)

WATTERS: And you know what, if I was Obama, I would.

RIVERA: Answered the call. I mean, answered the call. Let's roll. They roll. They roll the terrorist suffered, that's the story.

WATTERS: I would make this a huge.

RIVERA: It's not about Obama. It's not about U.N.

WATTERS: Top again the victory and shove this right down the terrorists' throat and said.

RIVERA: Yes.

WATTERS: Three unarmed Americans took out.

(CROSSTALK)

WATTERS: A terrorist on a Paris train. There's nowhere to hide.

RIVERA: Nothing.

GUILFOYLE: Love it.

RIVERA: Took this down, smashed (ph) you.

GUILFOYLE: In case you're into a little bit of red meat, we got it on the show.

All right, Biden, 2016 watch is next. Some interesting new developments to tell you about, signs that he may be jumping into the race. What it would mean for Hillary Clinton, coming up. Stay with us.

(COMMERCIAL BREAK)

WATTERS: Is it another sign, Joe Biden maybe about to join the 2016 race? This weekend, the vice president met with influential democrat, Senator Elizabeth Warren in Washington, cutting short his vacation in Delaware. The Wall Street Journal reports they discussed economic policy, quoting a person familiar with the meeting. Meet the Press host, Chuck Todd is convinced it was 2016 related.

(BEGIN VIDEO CLIP)

CHUCK TODD, MEET THE PRESS HOST: If you're looking for a rationale, you don't do these things. You don't leak out the Elizabeth Warren meeting. You don't gather at all these meetings. He wants to run. He wants to find a rationale to run.

(END VIDEO CLIP)

WATTERS: Today, Biden announced he has a new communications director, one with campaign experience, Kate Bedingfield. Working on John Edwards 2008 bid. Josh Earnest was asked earlier whether the president would want Biden to be his successor. Here was his answer.

(BEGIN VIDEO CLIP)

EARNEST: The president has indicated his view that the decision that he made, I guess, seven years ago now, to add Joe Biden to the ticket as his running mate, was the smartest decision that he ever made in politics. And I think that should give you some sense of the president's view of Vice President Biden's aptitude for the top job.

UNIDENTIFIED MALE: I wouldn't rule out the possibility you could say, endorse Joe Biden or endorse Hilary Clinton?

EARNEST: I wouldn't allow the possibility of an endorsement to democratic primary.

(END VIDEO CLIP)

PERINO: Wow.

GUILFOYLE: Wow.

PERINO: Wow.

WATTERS: OK, so that should tell you about Obama adding Biden to the ticket was the smartest political move he ever made. We could just let that one sit there for a second. So Biden looks like he's taking this pretty seriously and Biden doesn't take a lot seriously. He had a meeting with Elizabeth Warren. She refers to it as a powwow. Shouldn't.

(LAUGHTER)

RIVERA: That's funny thing you ever said.

WATTERS: What do you think.

RIVERA: This is funny as Gutfeld.

(CROSSTALK)

WATTERS: Kimberly, what do you think happen to this -- Dana, between Warren.

(CROSSTALK)

GUILFOYLE: It's like the 16th isn't she?

WATTERS: Yeah, the 16th.

GUILFOYLE: 116th.

RIVERA: 32nd. It's 32nd.

WATTERS: You can't trust the white man.

GUILFOYLE: It is 132nd?

RIVERA: In 1964.

WATTERS: It's enough.

GUILFOYLE: It's enough.

WATTERS: What went down at the meeting, do you think, in your opinion?

GUILFOYLE: Listen. I mean, I don't know, maybe like (inaudible) to see whose gonna get and go after and leg sweep. HRC, I don't know. I mean, it might be kind of interesting, though, to see. I mean, personally, I would much, much rather see Biden get in. Don't put me next to Elizabeth Warren, please. Pull that off.

(LAUGHTER)

GUILFOYLE: (inaudible) with her picture. I much rather have Biden in it. You know why to? And I always said this. I actually -- I think Joe Biden personally is a nice guy, OK? And I think he is, you know different in many respects.

RIVERA: Whose gonna (inaudible)?

GUILFOYLE: I'm not talking about that. I'm just telling you that I -- by the way, in some of these head to head, he matchups with Hillary.

WATTERS: Yeah.

GUILFOYLE: He actually does better in some of states. So you could say all you want.

WATTERS: Campaign.

GUILFOYLE: He is. And he's much more likable. I mean, she's just like, you know, frightening people when she goes out. She's so mean, and the electric, you know, rope to keep everyone away.

RIVERA: Don't you think the strongest -- the strongest asset Hillary Clinton has, aside from...

GUILFOYLE: Was Bill Clinton.

RIVERA: ... aside from him, is the fact that it is history in the making, the first female? That's what motivates my wife and her friends and her mom. They think about Hillary Clinton coming in. Finally, we get this woman who should have been the nominee in 2008. Her turn then but now...

GUILFOYLE: Her time was 2008.

WATTERS: You're saying the Biden is sexist, running against Hillary?

(CROSSTALK)

RIVERA: I'm saying that Biden has no chance. No chance. Everybody wants to be president. I want to run for president. I've got to get money (ph).

WATTERS: OK. No one would vote for you.

SHILLUE: She's in trouble.

WATTERS: She is in trouble.

SHILLUE: She's in trouble. And so he's -- he'd be foolish not to start getting in there now.

WATTERS: That's true. We're going to have to go to Hillary now. I'd love to talk about Elizabeth Warren more with you, Dana Perino.

Now, Hillary Clinton, Howard Dean, the best surrogate you could ever ask for as a Democrat, was asked about the whole e-mail server thing?

RIVERA: What do you mean? I'm going to campaign in Ohio!

GUILFOYLE: Oh, my God.

(BEGIN VIDEO CLIP)

HOWARD DEAN, FORMER CHAIR, DNC: I actually don't think the answers are evolving. I think they're steady as she goes. Look, this is, in fact, manufactured partly by a press that's bored and partly by the Republicans. I look at this as the usual press frenzy. The pack journalism. And I think it will go away, because there's no substance to it.

(END VIDEO CLIP)

WATTERS: So the press is bored by Donald Trump and all this craziness. This seems like the press...

PERINO: When you actually have the FBI involved, that actually -- that is a news story.

I like what the former attorney general, Michael Mukasey, said. That when the FBI is looking into a matter, they're not looking at the machine...

WATTERS: Right.

PERINO: ... or at the computer. The computer is not under investigation. The person that had the clearance, the person that had the access to the account, the person who was doing the e-mailing, receiving it or sending it, whatever it was that they're investigating, that's the person that's under investigation. That is news.

WATTERS: Maybe President Trump has to pardon Hillary Clinton. Maybe it's gotten that bad, Geraldo. I mean, this sounds...

GUILFOYLE: He won't pardon her unless he has a couple of other weddings that he needs...

WATTERS: That's right. To keep her around.

RIVERA: You didn't opine on whether or not Biden is in or not.

PERINO: I think -- I think that he's definitely in. What Chuck Todd was saying very politely was that you don't just have, like, an event like this, a meeting with Elizabeth Warren, on a weekend in August, and the press finds out about it. I mean, that's -- it's not a leak. That is strategic.

WATTERS: You said last week that when Obama golfed with Bill Clinton, that was a huge diss.

PERINO: I said yes. Who was hardest hit? Joe Biden. So what did he do this week? He's like, "Oh, yes? I'll go have a meeting with Elizabeth Warren," who a lot of people on the left wanted to run anyway.

WATTERS: Yes. That was a huge counter play.

PERINO: I think it was smart. And I also think that the White House is making a bit of a mistake, because they cannot help themselves by getting involved in the politics of 2016.

Biden getting in would be the best gift to President Obama and his legacy, because that would mean that he would have to stop -- they wouldn't have to defend Hillary Clinton every week. They could say, "You know what? we're staying out of this. You can call the FBI. Call the campaign. Call Biden. Call Hillary Clinton. We're focused on the president being the president of the United States. He's going to finish this strong. We're focusing on that. We're not going to talk about politics."

Instead he says, Joe Biden has the aptitude enough. It sounded like, "You're nice enough, Hillary," and it also said...

RIVERA: Would you be mad? Would you be mad? If you were Hillary, would you be mad at what Josh Earnest said?

PERINO: No. No. If I were Hillary or Biden, I would say, "Wow, they're trying to split us." Because when Josh Earnest says, "I wouldn't be surprised -- I wouldn't rule out." He says, "I would not rule out an endorsement from the president of the United States in the primary," that is a huge deal. That is getting involved to a level that you want to be there, when actually, I think the best thing that could happen to them is him getting in. That way they can pull out.

WATTERS: That's true. Watching Hillary and Biden debate a socialist is just great television.

GUILFOYLE: Yes.

RIVERA: You'd watch that.

WATTERS: Next, Jeb Bush made a trip to the border today to talk about immigration with local leaders. Donald Trump chimed in on the visit. It's coming up on "The Five."

(COMMERCIAL BREAK)

RIVERA: Donald Trump flamboyantly visited the Mexican border a couple of weeks ago. Today, a dollar late, a day short, or the other way around, Jeb Bush made the trip to the border also. Trump offered this backhanded compliment to his competitor on "FOX and Friends" this morning.

(BEGIN VIDEO CLIP)

DONALD TRUMP (R), PRESIDENTIAL CANDIDATE (via phone): I think it is great that he's going to the border, because I think he'll now find out that it is not an act of love. When he says that people crossing are crossing as an act of love, which came back to haunt him, he will find out it's not an act of love. I was down on the border. It's rough, tough, stuff.

(END VIDEO CLIP)

RIVERA: Jeb responded after the meeting with local leaders in Texas. Here's the former Florida governor.

(BEGIN VIDEO CLIP)

JEB BUSH (R), PRESIDENTIAL CANDIDATE: Mr. Trump's plans are not grounded in conservative principles. It would cost hundreds of billions of dollars. It's not realistic. It won't be implemented.

I welcome Mr. Trump into the debate. I think that's great. He's a -- you know, he's a serious candidate, and he ought to be held to what serious candidates need to be held to. He needs to be held to account for his views.

(END VIDEO CLIP)

RIVERA: Kimberly, aside from the fact that it was too bad for Jeb Bush that went to the border on a day the market was crashing, and all attention was focused on Wall Street. It would have been a lot better during the furor of the immigration debate stirred up by Donald Trump. But I still thought that Governor Bush was pretty elegant on the border. He spoke Spanish very fluently.

GUILFOYLE: I loved it. Yes.

RIVERA: He -- he was the kind of moderate Republican reaching out to the Latino vote and constituency. I thought within the long run helped the Republicans.

GUILFOYLE: I think that it was a strong moment for him. I think it showed leadership and someone that was thinking, you know, intelligently and specifically about what we can do here with immigration and with the border crisis.

And also, I think people really see that he is authentic in terms of his connection and ability to also represent all Americans and the Latino- American community. I really like that, because I think that's one of his strong suits, and he really showed it well.

RIVERA: And what kind of hammer are you going to hit Jeb with?

WATTERS: Well, I agree. I think Jeb is elegant. I just don't think Republican primary voters want elegant right now. They want tough and energized. I think Trump's attacks against the former governor have been sticking. He's saying he's boring, and he's tired. And I think the country wants someone who's a little more passionate right now.

I don't know if I was Jeb, I'd do the Trump Contrast Tour. I think going down to the border, what, was he going to say, "I'm going to -- I'm going to tear the border wall down"? I mean, that's...

RIVERA: Interesting you mention the wall.

(CROSSTALK)

WATTERS: ... that he's not a conservative and it's an expensive proposition. I would stay there.

RIVERA: Expensive. Expensive. What do they say? It's going to be -- the wall, according to one CNBC estimate, will cost the American taxpayer between 739 and $935 billion.

WATTERS: That's a legitimate line of attack. And I thought...

RIVERA: Billions. That's almost a trillion dollars. How bad do you want the wall?

GUILFOYLE: Mexico is going to pay for it.

WATTERS: I mean, like you said he got...

(CROSSTALK)

WATTERS: That's right. Listen, the market goes away soon, you might have to go down there and build it too.

RIVERA: I thought that the Spanish, and again, to use the word "elegant," I thought that -- and to bring up the fact that his children, Dana, are Hispanic, I thought that that was the kind of outreach that Ronald Reagan would be proud of.

PERINO: Well, I don't know. I think the word "elegant" fits, but I think "eloquent" might also fit. Right?

So here's something interesting. In the state of Nevada, there's a huge Senate race this year. Whoever wins the presidency is probably going to have the Senate. So if it goes Democrat for president, you'd probably have a Democratic Senate. Same on if it's a Republican.

Nevada has, I think, three electoral votes. Republicans need to win 45 percent of the Latino vote in Nevada in order to win in Nevada this year. The Electoral College vote is going to be so close on election night it could come down to as many as three electoral votes.

So yes, I think it's smart in the long run.

The other thing I would say is I kind of feel like...

RIVERA: Don't you agree with Jesse -- I don't meant to interrupt you -- that yes, that's the long run, but what about the primary season?

PERINO: I don't know. Actually, I was...

WATTERS: Of course she agrees with Jesse. Stop it.

PERINO: Obviously. Jesse and I are one, people. Believe me.

RIVERA: One mismatched couple.

PERINO: Because Jeb was having a hard time making -- breaking through the news while Trump was dominating, one of the things that they've been able to do, both of them, is they're actually -- the backhanded compliment or the gentle jabs back and forth is actually pretty entertaining. It's kind of good politics on both sides. And it's better. I think they've both been better in the last couple of weeks than they were in the past couple of months.

GUILFOYLE: But these are the only two people we're talking about, really. You know, to be honest. Right?

RIVERA: As I said, Scott Walker standing in his mind about what time it is (ph).

But Tom, do you -- do you think that Trump is maybe not so invincible?

SHILLUE: Well, I think that he's -- he's going to be able to pick on Bush with this "act of love thing," but Senator Rick Santorum said, "I feel bad for someone who robs to feed their family." He compared illegal immigrants to that. So he said, "Of course, I can have compassion for illegal immigrants, but it's still against the law." So he said, you know, "Robbing a bank is against the law. It doesn't mean I don't have compassion for someone who..."

RIVERA: I don't want to talk about illegal immigration. I'm talking about Jeb Bush and Donald Trump.

PERINO: I think that's the point.

SHILLUE: That Jeb Bush is going to be able to keep the compassionate angle, and he's going to be for enforcing the law, as well. He just needs to -- you know, he needs to be able to sell that. Because right now...

RIVERA: As opposed to the wall and kick them all out.

SHILLUE: Yea, and Trump is hammering him as the softy. But he's -- he's not, really. When you look at his immigration plan, he's not for amnesty. He has a very nuanced plan.

WATTERS: He's for earned citizenship. What a huge difference.

SHILLUE: Yes. Yes.

PERINO: What are you for, deportation?

WATTERS: I told you: I'd set them down...

RIVERA: Strip them right out of their mama's arms. Get them out of here.

SHILLUE: I'm just glad that Bush says he's not for amnesty. He's not for a path to citizenship. He's a path to legality.

RIVERA: Ahead, for all those singles out there looking to make a love connection -- of course, Tom would be the one -- but a list of first date tips you'll want to stay tuned for.

(COMMERCIAL BREAK)

SHILLUE: If you've got a first date coming up, and it involves sitting down for a meal, grab a pen and paper and commit this to memory. According to a new survey, a quarter of singles have been turned off by their date, based on their food selection.

PERINO: Wow.

SHILLUE: A tip for guys: Don't order a salad. A fifth of women think that means you're boring.

GUILFOYLE: Oh, my gosh.

SHILLUE: Nine percent of men say they would be turned on by a woman who ordered messy food like burgers and ribs.

GUILFOYLE: That's why I do so well.

PERINO: That's why you're successful!

GUILFOYLE: I'd kill it. It's not the lip gloss.

SHILLUE: You like the messy food?

GUILFOYLE: I like to eat. And I have no problem -- yes, chicken wings.

PERINO: Lamb chops.

GUILFOYLE: Lamb chops.

RIVERA: Do you wear a bib?

GUILFOYLE: No.

PERINO: No.

GUILFOYLE: No, no, no.

RIVERA: Not what you think.

SHILLUE: All right. Guys like women. They like their women...

GUILFOYLE: Guys do like women, yes.

SHILLUE: They like them, you know, eating...

RIVERA: Not all guys.

SHILLUE: They like women -- ask them any quality of a woman: what happens if a woman's shoe gets stuck in a subway grate? "I love it. I love it."

WATTERS: That is hot.

SHILLUE: They love that.

GUILFOYLE: You mean they just love anything women do?

SHILLUE: Yes, they asked them, "Would you be turned on by a woman eating sloppy food?" They're going to say yes. But ask them if, you know...

PERINO: Sloppy food, but eaten unsloppily. Right?

WATTERS: No, we like it when it gets all over you.

GUILFOYLE: You can get a little bit here, but you don't want to get it all over your clothes.

WATTERS: It depends what it is.

RIVERA: The biggest turnoff is when the guy doesn't pick up the whole check. That's the biggest turnoff.

GUILFOYLE: That happens to you a lot?

RIVERA: "OK, we'll split it." And thought this -- wait, you owe me 69.

WATTERS: I have an admission to make. When I went out with the first date with my wife, she paid.

RIVERA: She paid?

GUILFOYLE: I remember this story. Yes.

WATTERS: I've told this story before, and...

RIVERA: Why is that? Why?

WATTERS: I don't know. I don't know. I made her pay, maybe. I forgot my wallet.

GUILFOYLE: Wow.

WATTERS: I don't remember. She paid.

RIVERA: She does. Ask her.

GUILFOYLE: And your wife is so nice.

WATTERS: I know.

GUILFOYLE: She's such a winner.

WATTERS: I know. You know what else it says here? The ideal price for the meal on the first date is $40.

GUILFOYLE: Where?

WATTERS: Kimberly knows, if anybody gets a $40 meal, the night is ending early.

GUILFOYLE: Per person.

WATTERS: Per entree.

SHILLUE: Dana, why do women always want you to try their food? "Do you want to try this?" Like, I don't want to try your food.

PERINO: Maybe it's biology. Like, maybe they're thinking, "I want to see what he likes." Maybe there's, like, a deeper thing. Like it's way back programmed. I want to see what kind of food he likes to see if I can make it.

SHILLUE: You know what I...

GUILFOYLE: Men like to taste your food.

PERINO: The other thing is, is because maybe what I really want to order is a salad, but I want to impress a person, so I order the chicken wings. But then I, like, give you some so it looks like I ate more than I really did.

SHILLUE: Yes. It's trying to get you involved somehow.

WATTERS: I found out that, when you're with a woman on a date, you're supposed to order dessert. You know she's not going to order dessert. The guy is supposed to order the dessert and then you're supposed to say, "Have some."

PERINO: Same with French fries.

WATTERS: Yes, French fries, too.

PERINO: I always get the French fries.

RIVERA: And don't order the most expensive thing on the menu.

GUILFOYLE: Can I tell you something? In my life, why...

WATTERS: Why not?

(CROSSTALK)

GUILFOYLE: Why do you have to give advice about a salad?

RIVERA: What's that?

GUILFOYLE: What self-respecting man would order a salad on a date? That, it would be like a no-go.

(CROSSTALK)

RIVERA: I would never do that.

WATTERS: John Kerry.

GUILFOYLE: John Kerry, yes.

WATTERS: Big salad guy.

GUILFOYLE: Bicyclist.

SHILLUE: All right. "One More Thing" is up next.

(COMMERCIAL BREAK)

PERINO: It's time now for "One More Thing." Kimberly, kick us off.

GUILFOYLE: I'm so excited to have this "One More Thing" today, because I love this. This is a family that's smart, that's prepared. Familiar with firearms in a very safe and good way. So 14-year-old Andrew Mason is a big hero, because he actually saved his two little twin siblings that were 6 years old from home invaders that were breaking down the door. Take a listen to this.

(BEGIN VIDEO CLIP)

ANTHONY MASON, SAVED SIBLINGS FROM HOME INVADER: Grabbed my brother, and I told him to hide in the closet. I grabbed a cell phone off my dad's dresser, grabbed my rifle, hid in the closet with my brother. Had my gun loaded and ready to shoot, but when he saw me, he just took off running.

(END VIDEO CLIP)

WATTERS: Wow.

GUILFOYLE: I mean, that was almost perfect. Except if he'd...

PERINO: Pretty interesting.

GUILFOYLE: ... blasted him.

RIVERA: You would have preferred he shot him?

GUILFOYLE: I wouldn't -- I wouldn't have grounded him, put it that way. You know what I'm saying?

RIVERA: Atta boy.

GUILFOYLE: Raising the allowance.

PERINO: Tom.

SHILLUE: Well, the lead in my barbershop quartet is having a difficult summer. The -- you heard about his finger -- his finger injury. And he -- he just chipped his tooth trying to open a tube of scar-tissue repair gel that he was going to put on his finger. Look at this chipped teeth. He looks like Alfred E. Newman there. But they're going to fix up the tooth.

GUILFOYLE: You mean Jimmy Fallon?

SHILLUE: Jimmy Fallon, yes.

GUILFOYLE: I know, but it's a little funny, right?

SHILLUE: I don't know. I should.

GUILFOYLE: And you -- you led the (UNINTELLIGIBLE)

PERINO: If you had to sing right now, could you? Or are you...

SHILLUE: Actually, have you noticed I'm a little hoarse today?

PERINO: Yes.

SHILLUE: Did you guys notice that?

WATTERS: No, not at all.

PERINO: You're like a pony.

SHILLUE: Someone just tweeted, "Did Tom Shillue spend the weekend yelling at his kids?"

WATTERS: You sound like Al Green.

PERINO: OK, well, parents of children, please indulge me for a second, because you know I don't have children. I just have a dog. His name is Jasper. America's dog.

And for months, he's had this favorite toy. It is a sock monkey. I'm sure lots of people have sock monkeys. This toy has been everywhere. I think we have some pictures. We've been taking him on trips with us. That was this weekend in Long Beach Island.

Well, then it got a big rip in it after several months. I found him sleeping on the sock monkey. And finally, I had to sneak it out. And I told him that the sock monkey went to live in a zoo.

SHILLUE: Aw.

PERINO: There's another sock monkey on the way. And the reason I have that as my "One More Thing" is because people that have videos of great things, you should just give us permission to use them, because then we wouldn't have to talk about my dog all the time.

I could write a blog post on that. All right, Jesse.

WATTERS: "When I Ripped My Sock Monkey."

All right.

GUILFOYLE: Oh, my God.

WATTERS: Oh, how the mighty have fallen. Jon Stewart, unemployed now, but he resurfaced. Take a look.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Jon Stewart has no business being in there. None. It's a world championship match. Get him out of there.

UNIDENTIFIED MALE: I can't believe this.

UNIDENTIFIED MALE: Come on! What the hell did he do that for?

(END VIDEO CLIP)

WATTERS: There he is, still deceiving audiences.

GUILFOYLE: Oh, my God.

WATTERS: Going from fake news to fake sports. Perfect transition.

PERINO: Looks like the people loved it, though.

WATTERS: Doing what he does best, taking cheap shots. Great job.

GUILFOYLE: That's not fair. He can't fight back.

PERINO: Is there anyone driving (UNINTELLIGIBLE) today?

WATTERS: No. You're next, Dana.

PERINO: Your mom is really not going to be happy with that. Geraldo, you're next.

RIVERA: You know, we love veterans around here and G.I.s and those who come home, especially who having sacrificed. You know, to those who -- they're survivors, those veterans who are wounded in action, there's a great, great program now that combines some wonderful things. Scuba diving, which is one of my great passions, and taking the wounded vets, putting them in scuba outfits, getting them underwater.

PERINO: Wow.

RIVERA: The charity is called S.U.D.S., S-U-D-S. Stands for Soldiers Undertaking Disabled Scuba.

PERINO: Wow.

RIVERA: Soldiers Undertaking Disabled Scuba. It's run -- a small nonprofit run by a guy named John Thompson. And the one who hipped us to it, Tim Cofran, worked with me at 20/20. Great underwater cameraman and producer. But he is part of this. He loves these guys at S.U.D.S.

And I'm telling you, if you've never scuba dived, I have the experience of a lifetime. Historic experience. I went Scuba -- that's me riding on the back of a 45-ton humpback whale.

GUILFOYLE: Looks like you're fighting him.

RIVERA: No.

WATTERS: Looks like the whale liked it.

RIVERA: He flipped me. He loved it. He loved it. We're going steady.

PERINO: That's an amazing organization.

RIVERA: I ordered salad instead on the first date, kelp.

PERINO: All right. Set your DVRs so you never miss an episode of "The Five." That's it for us. "Special Report" is next.

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