DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.
TECH COMPANIES CELEBRATE RULING AGAINST PRESIDENT TRUIMP'S TRAVEL ORDER
Mike Ozanian: The tech companies are looking out for their own self-interest. Increasingly over the years they've been using foreign labor to lower their cost thereby boosting their profits. That's what they're concerned about right now, their own bottom line.
Bruce Japsen: Well, listen the way this was executed was so ham-handed or in the case of Donald, small-handed that it sends a message to the countries, to Muslims, we don't want you here. We want the best talent and best products in this country and telling these folks, even setting the legalities of it aside the optics don't look good.
Steve Forbes That order was specifically for countries that weren't able to vet immigrants coming to this country. That's why it was those seven countries and not other Muslim countries like Indonesia. The real threat to high-tech is not this order, ham-handed though it may have been, a threat to national security. It allows people to recruit people overseas to do this work. That's the challenge, not this order.
Rich Karlgaard: Well, look, five out of the six most valuable companies on the face of the earth are American tech companies. They're located in two states, Washington and California, that happen to be blue states. Two of them are led by Indian immigrants. Of course, they're pro-immigration, and of course, they're sensitive to the largely liberal constituents they have at their company. I really reject this idea, David. When did conservatives start arguing that companies weren't able to act in their own self-interest and somehow that was un-American?
Elizabeth MacDonald: By the way, no one is for any ban of any religion. No one is talking about that, that should not be the issue. Even the head of the official of the UAE said it's not a Muslim ban. And chuck Schumer after the Paris attack said yes, we should do a refugee pause. I don't see how comments on the campaign trail or Rudy Giuliani, render under the Constitution they're saying that universities, and so forth. We get it, four out of the top ten tech companies, I think a lot of them are immigrants and we get that and understand this. What this is about is collapsed countries and no one-- no one trusts the vetting there.
John Tamny: Oh, idea that they're doing it to bring down their labor costs is laughable and I think that Mike knows that. The bigger picture, this is bad for all companies when the size and scope of government grows, it decreases our freedom and by extension, decreases economic growth. The idea then that some refugee ban is going to make us safer from terrorists defies common sense. They would always get around something as basic as that.
REPUBLICANS PROPOSE CUTTING FUNDS TO CONSUMER FINANCIAL PROTECTION BUREAU
Steve Forbes: Absolutely not. They're not account today anyone. They have an unlimited budget because the fed prints all the money they want ton they've done egregious things going off unpopular things, imposing fines and never revealing the faces behind the fines. It's running amok and deserves to go and the bucks are the least of it.
Bruce Japsen: Well, certainly, you could talk a little about the accountability, but the only thing monstrous the agency is doing, it's brought in $12 billion and returned to consumers. This agency was involved in the Wells Fargo case, that when Wells Fargo was setting up unauthorized accounts, and it also had a fine against the Naval Credit Union which was doing some unscrupulous things to veterans.
Elizabeth MacDonald: 11 billion in 2015 for-- you know, I hear what Bruce is saying, you want to protect consumers. I think it's unconstitutional. Basically this is a data mining operation. They've helped consumers, I get it, but when you treat the banks like a budget line item and that's how they treat the banking sector which takes money out of the bank that use for loans
John Tamny: Even if the CFPB were accountable, it still wouldn't be necessary. We should still abolish it. It doesn't take a genius to say that the marketplace is about protecting the consumer simply because if you do a bad job by that consumer, there's voluminous competition for your business. We don't need what is an accountable or unaccountable.
Mike Ozanian: Well, he's right, David. If you look at the salaries of these people at this agency, three, four times what the average person earns in the private sector, that's horrendous and done tremendous part as being part of dodd-frank, the bank rules a couple of years ago. It's killed small business lending, dodd-frank has. This agency should be abolished, as should dodd-frank.
Bill Baldwin: The fat salaries are the tip of the iceberg. The problem is they force the banks to hire tens of thousands of compliance officers and you pay for that nonsense every time you walk up to an atm.
NEW FALLOUT AS PRESIDENT TRUMP DEFENDS DAUGHTER IVANKA AFTER NORDSTROM DROPS HER BRAND
Steve Forbes: If Trump didn't defend his daughter in my mind, that would be an impeachable offense. I have five daughters. They dropped the line due to politics pure and simple.
Bill Baldwin: I think they'll come groveling back just like Carrier. And this president looks like Louie the 13th. And will have to release press releases flattering to the emperor.
Mike Ozanian: I don't know, man, where I sit a father's love for his daughter is a father's love for his daughter. There's nothing like it, I like to think I would do the same thing for my daughter that President Trump did.
Elizabeth MacDonald: You know what? I just don't know why we're politicizing clothes. I think it's just so weird.
Rich Karlgaard The supporter below I guess Harry could deliver a swift kick. Official Washington thought Truman went beyond the pale, but America loved him for the statement.
Bruce Japsen: I think so. I mean, it just comes across as looking like he's promoting-- using he and the family are using the white house for financial gain. For goodness sake, ivanka has been on television every day since through the campaign. I think that she can market her brand and defend herself.
STOCK PICKS
Bill Baldwin: NCL
Elizabeth MacDonald: FB
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