Rep. Collins: There's no reason to panic, it's important to follow protocol

This is a rush transcript from "The Story," March 11, 2020. This copy may not be in its final form and may be updated.

MARTHA MACCALLUM, ANCHOR: All right everybody, tonight the president will address the nation from the Oval Office. That's a big deal. It's only the second time that he has used that venue to speak to us and he will speak about the White House's response to COVID-19.

Tonight there are 1110 known cases in the country. 30 people have succumbed to the disease. Half of those were in this hospital in Kirkland, Washington. Here's the President earlier today discussing the economic impact of the virus and also potential travel restrictions to Europe.


PRESIDENT DONALD J. TRUMP: We're going to have to do something with respect to getting this - getting rid of this virus as quickly as possible and safely as possible. Our number one - our number one priority is the health of the people of our country.

REPORTER: What sort of travel restrictions on Europe are you thinking?

TRUMP: I'll be letting you know that a little bit later.


MACCALLUM: So we'll here that tonight it sounds like. Good evening everybody. I'm Martha MacCallum. The World Health Organization labeled the virus a pandemic today, not surprising, given the spread of this virus that we have all watched move around the globe.

And a top infectious disease doctor for the nation says that it is 10 times more lethal than the flu.


DR. ANTHONY FAUCI, DIRECTOR, NAID: We will see more cases and things will get worse than they are right now. Bottom line, it's going to get worse.


MACCALLUM: Dr. Fauci says that infections and deaths in this country are totally dependent on how we respond. At a separate closed door briefing, one expert said that most Americans may at one time or another be exposed to this virus. Another said that he thought that that estimate was too high.

German Chancellor Angela Merkel warns that 70 percent of her country's population, some 80 million people could contract the virus as calls here were louder for the President to step up in that piece by Michael Goodwin in the New York Post today.

So as for the Dow it is in bear market territory. It plummeted another 1400 points today. Self- quarantined congressman Doug Collins is standing by to talk to us tonight via Skype and Democratic congressman Eric Swalwell will tell us what Nancy Pelosi talked about and everything to her folks on the Democrat side tonight as well.

But first Trace Gallagher is here to sum up all the breaking details tonight from our L. A. bureau. Good evening, Trace.

TRACE GALLAGHER, FOX NEWS CORRESPONDENT: Good evening Martha. The reason up to now the World Health Organization resisted calling this a global pandemic is because it didn't want to give the impression the coronavirus was unstoppable.

So now the Director General of WHO is saying as loud as possible all countries can change the course of this disease. Coronavirus has down affected more than 120,000 people in 114 countries on six continents.

In this country more than 1100 cases in 40 states. In DC 31 people have now died. Today Dr. Tony Fauci director of the National Institutes of Allergy and Infectious Disease told lawmakers that things will get worse and then he was asked to give the public a realistic assessment. Watch.


FAUCI: If we are complacent and don't do really aggressive containment and mitigation, the number could go way up and be involved in many, many millions. If we talk to contain, we could flatten it so there's no number answer to your question until we act upon it.


GALLAGHER: Dr. Fauci also recommends there not be large crowds possibly including NBA games and the NBA has now told teams to prepare to play without fans and because the city of San Francisco has already implemented a moratorium on gatherings of more than 1000 people, tomorrow night's game between the Brooklyn Nets and Golden State Warriors will not have fans.

Today the NCAA president also announced that college games including March Madness will have limited fans quoting here, "I have made the decision to conduct our upcoming championship events, including the Division 1 Men's and Women's basketball tournaments with only essential staff and limited family attendance."

Washington State Governor Jay Inslee has closed Seattle schools and banned large gatherings in King, Snohomish and Pierce counties and finally the Grand Princess cruise ship is in Day 3 of disembarking passengers.

As of late last night more than 1400 had left the ship, that number has not been updated but it's certainly higher considering people were getting off throughout the day. The crew of course will quarantine on board and the port of Oakland will be fully decontaminated.

MACCALLUM: Well, I mean that's got to be a tough situation for that crew hanging in there. Thank you very much, Trace.


MACCALLUM: So here now via Skype Republican Congressman Doug Collins who is self-quarantined because he came in contact with someone who did contract the virus at CPAC this year? Congressman, good to see you tonight.

What do you make of that report that says that most Americans will likely be exposed to coronavirus as you were and are you still asymptomatic?

REP. DOUG COLLINS, R-GA.: Martha, it's good to be with you. Yes, I'm asymptomatic. I'm feeling fine. There's been no problems. In fact, I have carried on my normal workout routine in doing work from here at home and communicating with (inaudible) in DC especially we've been dealing with FISA and other things on - in Washing.

And I think what's interesting is we can come in contact - one of the reasons that we're following the protocols set forth because I was exposed to someone who has tested positive is to make sure everybody follows these recommendations. As Dr. Fauci said, if we take control of this and we do what we're supposed to, we can make sure that this virus is relatively contained.

People can be exposed but not get the virus and I think I'm a living proof of that, if we do the right things, do our hand washing, if we're sick, go to doctor, those kind of things. And that's why, the message I'm trying to get out is the administration's working through as well is follow the protocols and we can make sure that we have this under control.

MACCALLUM: So you have several fellow members of Congress including Ted Cruz and Congressman Gosar also at home. Have any of them showed any signs of any symptoms at this point?

COLLINS: None that I'm worried about. Have spoken to Sen. Cruz. He and I have talked and I talked to Mark Meadows as well but others in as we just had conversations, we're moving right along and we're doing the protocols and I think that's the important part here.

- in the sense of doing the right thing but there's not a reason to be panicked and I think that's what they were trying to get across to you.

MACCALLUM: So there was a report that there was a very tense meeting on Monday between the President and his Treasury Secretary Steve Mnuchin. The President wants Jerome Powell at the Fed to be much more aggressive to stimulate the economy. Your thoughts on that and what we're going to see in terms of an economic program out of Congress?

COLLINS: Well, the President has always put our economy first. That's one of the reasons why he was elected and we've seen this happen before. One of the things we need to do is make sure that - if we do anything on Capitol Hill, it's directed in the right way.

My concern is like we have many times on Capitol Hill, we react only in emotion and feelings of moaning instead of the actual practicality so any economic issues that we deal with need to be directed at those who would benefit from it and not just simply a blanket pattern to cover what may be.

And so that is our concern. The President wants to see our common continue to do well. I think we're going to see that happen but we'll see how it works out on the Hill.

MACCALLUM: you know, just quickly before I let you go, I spoke to two New Jersey doctors today. One told me that there is access to test at one hospital. Another said they've been trying to get access to test. They can't get it. They've called you know agencies in New Jersey.

The local hospital doesn't have any tests and the lab you know companies is Quest LabCorp, they don't have tests. They can - they can read the test if it's sent to them but they don't have the test. So that - that seems like a
- like a pretty big problem.

COLLINS: Well, we're being told and I think this is an interesting issues and I would love to hear more about it but we've been told that anybody who needs a test is getting the test. And I think that's - in concern because if you're - if you have a doctor who has information who is symptomatic, who is showing signs, we have been told through CDC that those tests are available.

What they're not testing for is folks who are not symptomatic like myself and that might be the disconnect that we're looking at but if everybody has a test and the Vice President has also said today that they removed the calls from these tests, not just for Medicare, Medicaid but from all private insurance as well.

So everybody who needs to get tested, they need to go, get tested.

MACCALLUM: Well, it seems like there's some hiccups in that - that part of the plan and I think that's pretty important so hopefully that's going to be remedying shortly. Congressman, thank you very much, stay well, good to see you.

COLLINS: Thanks Martha. Take care.

MACCALLUM: You too. Joining me now Democratic Congressman Eric Swalwell who was in the briefing today will Speaker Pelosi. Congressman, good to have you back on the program.

REP. ERIC SWALWELL, D-CALIF.: Same here. Thanks Martha.

MACCALLUM: Do you think that there is an appetite in this country in dealing with this issue and I think we're going to hear some of this from the President tonight that pointing fingers at each other and you know in terms of - of how all this is being handled is just not particularly helpful at this time?

SWALWELL: Well, first, I want to say I'm glad to see my colleague Doug Collins is doing well. I hope to see him back on Capitol Hill. I think you saw last week Martha, that we worked in a bipartisan way to pass $8.3 billion package. We want the president to succeed.

I met with Vice President Pence with our caucus last week, and I thought he had a pretty good handle on how our government works. He's got relationships with governors that I think have been productive, he's been working with experts and he assured us every decision he makes we will be based on science.

I'm frankly most concerned about the president. I just saw a new story today that he's made 29 false claims about the coronavirus so it seems like you can have the best intentions, the best experts, everyone doing what we're supposed to do and then the person at the top could set us back with misinformation.

MACCALLUM: I don't even think that - I'm not sure that's particularly helpful either. I mean, I think there have been a lot of you know, I'm saying you know, whoever came up with a 29 claims, it's like, I think - we don't actually know - how this is going to evolve. So they're trying to keep people.

SWALWELL: I think that you know, his tweet that this is just like the flu like you just said it's not the flu.

MACCALLUM: You know, I'm just saying that I think you know, in order to you know sort of engender an atmosphere where we're working together, pulling together as a country, you know sort of you know enumerating things that - I just think it's very difficult to know where this thing is going and I - and I think that a lot of people say things on both sides that - that may not end up being true but at this point -

SWALWELL: I want the President to succeed.

MACCALLUM: Here's Gavin Newsom, the governor of San Francisco -

SWALWELL: I want him to succeed.

MACCALLUM: Just take a look at this.


GAVIN NEWSOM (D), GOVERNOR, CALIFORNIA: He said everything that I could have hoped for and we have a very long conversation and every single thing he said, they followed through on.


MACCALLUM: So that sounds like a pretty good assessment.

SWALWELL: That's good. Again, I want the president to succeed. His success is our health and so we need to work together and you're going to see tomorrow we will roll out a package to further assist you know the administration to make sure we're all healthy.

MACCALLUM: And what was Nancy Pelosi's stance on that. We're going to speak with Christine Pelosi in a little while. I'll - you know what is her big message to all of you right now.

SWALWELL: If you're sick, you should be able to get tested and it shouldn't cost you anything and right now as you pointed out with Mr. Collins, that's not the case so that's our top priority. We want first responders to have the protective gear that they need all across America.

If people are tested, it would be nice if they could be tested at an independent site rather than going to where people are already sick at hospitals. If you have lost hours at your job because of your of your sickness, we want you to be reimbursed through paid sick leave.

If you have lost your job because of the coronavirus, you should have unemployment insurance that covers that.

MACCALLUM: Sounds like those things are pretty much on the list, right?

SWALWELL: Yes. So that - that's you know broadly, that's what we're looking at. The package will be rolled out this evening but -

MACCALLUM: Are you in favor of a payroll tax cut?

SWALWELL: No, I'm in favor of helping people who are directly affected by this. Payroll tax cut would you know - there's no explanation as how we would pay for that and that would help some - a lot of people who aren't directly affected by that.

I'd rather help those who are affected. First responders, people who lose their hours, people who lose their jobs, let's start there and also, let's not forget, students Martha. I hope the next round considers how this has affected students who took out student loans and are not going to have this semester fulfilled but they're going to have to pay -

MACCALLUM: Yes, it's going to be a lot to work through, a lot to work through.

SWALWELL: That's right.

MACCALLUM: And health and safety first. Thank you very much.

SWALWELL: Of course, my pleasure.

MACCALLUM: Good to have here tonight. Thank you. So coming up next, it is looking more and more likely that Joe Biden will be the Democratic nominee. 
We don't know for sure yet but it looks that way at this point but Bernie Sanders is saying, he's not going anywhere at this point despite last night's losses, he is staying in this race.


SEN. BERNIE SANDERS, I-VT., PRESIDENTIAL CANDIDATE: I very much look forward to the debate in Arizona with my friend Joe Biden.



MACCALLUM: After another sweeping victory for Joe Biden last night, the former Vice President offered an olive branch of sorts to Bernie Sanders supporters.


JOE BIDEN, D-PRESIDENTIAL CANDIDATE: I want to thank Bernie Sanders and his supporters for their tireless energy and their passion. We share a common goal and together, we'll defeat Donald Trump. We'll defeat him together.


MACCALLUM: So that was the former Vice President but the advice from some of the pundits out there on cable news was a bit more direct.


UNIDENTIFIED MALE: Bernie Sanders, drop out.

UNIDENTIFIED MALE: Let's see does he show up at the debate.

UNIDENTIFIED MALE: Let's shut this puppy down and let's move on and worry about November.

UNIDENTIFIED MALE: I think it is time for us to shut this primary down, it's time for us to cancel the rest of these debates.


MACCALLUM: Last one there was James Clyburn, Congressman James Clyburn but today Bernie Sanders said, no way. No intention of dropping out. Sent this message to the front runner and the rest of the party.


SANDERS: Today I say to the Democratic establishment, in order to win in the future, you would need to win the voters who represent the future of our country and you must speak to the issues of concern to them.


MACCALLUM: Here now to respond Biden campaign Senior Adviser Symone Sanders. Symone, great to have you here tonight and congratulations on the big wins that you guys have had Super Tuesday and again, last night.

When you heard the Bernie Sanders is coming out at 1:00 PM today to speak in Burlington, Vermont and then you heard that he was going to say he was sticking with it, did your heart sink a little bit? Would you like to move on from this?

SYMONE SANDERS, BIDEN CAMPAIGN SENIOR ADVISER: Thanks for having me tonight Martha. Look, look, look, we are very much so looking forward to seeing Senator Sanders at the debate on the Sunday and the reality is look, we have long said that as a democratic nominee and the person who will be best positioned to take on and beat Donald Trump has to be able to enthuse voters, has to be able to get people turned out at the polls.

That person has to be able to build and expand on the Obama coalition and Vice President Biden has done that so look, there are some real policy differences between Sen. Sanders and Vice President Biden. At the end of the day, we all want the same things but on that debate stage on Sunday, you can expect Vice President Biden to articulate his bold, progressive vision for the American people and what he would do as president.

And we look forward to having that debate and that conversation.

MACCALLUM: You just talked about how stark their policy differences are so you know unless Joe Biden is willing to sort of say you know, I'm open to some of these ideas. I'm open to Medicare for all. I'm open to free college for everyone. How's he going to win over these voters that are so dug in for Sanders which you were at the last campaign actually?

SANDERS: Indeed. So look, Martha, what's important to know that voters across the country, from young voters to seasoned voters, they have said - the most - one of the most important things for them is that they can beat Donald Trump but also too that we can build on the progress that Donald Trump has halted.

We believe that voters actually don't want a revolution, they want results and that was reflected, I think in Super Tuesday. It was also reflected in yesterday evening when Vice President Biden won every single county Michigan, in Missouri, in Mississippi.

MACCALLUM: Yes, across the board and demographics as well.


MACCALLUM: And I think you're right, I think the most important thing we learned is that people want someone who they think can beat President Trump.

SANDERS: Yes, young people too though Martha. I know that's something Senator Sanders spoke to.


SANDERS: We won University of Michigan. We won Michigan State University. We - Michigan has the largest - our largest students for Biden chapter and so we believe that we have made real inroads with young voters. We do have additional work to do but we're confident we can close the gap, our campaign the campaign for everyone, Martha.

MACCALLUM: All right, not to run on the parade at all, but Byron York did in a piece that he wrote because he just looked at the statistics in terms of senators and vice presidents and how it tends to work for them. He says, "What does 36 years in the Senate say about a politician? It says he is a senator - not a president. A long career in Senate is simply not a foundation for a successful run for the White House. But the second reason Biden will not become president is that the record of vice presidents on that score is not encouraging."

He's not judging - he's not judging Joe Biden. He's simply looking at that the record and saying people who've been in the Senate that long don't tend to win when they run for president.

SANDERS: Well, I think we should look to the voters in South Carolina, voters in Super Tuesday states, voters that voted on Tuesday and we'll have to look to voters that will cast their ballots on March 17 and March 24 and beyond.

MACCALLUM: Absolutely.

SANDERS: Look, the voters have - democratic voters have emphatically spoken and said that they're actually responding to Vice President Biden's bold vision. One, they believe that he can take on Donald Trump but two, we're talking about the issues Martha. Healthcare, which is the most important issue for everyone across the country, regardless of where they sit on the political spectrum.

MACCALLUM: It was on our voter - as well.

SANDERS: Exactly.

MACCALLUM: I just got - I want to play this little - this sound bite for you. This is Jerry Wayne, this is the Detroit construction worker that Joe Biden had a bit of a run in with. Here's his reaction to what happened there. Watch this.


JERRY WAYNE, DETROIT CONSTRUCTION WORKER: I thought I was pretty articulate and respectful. I didn't try to try to raise any - any feathers and he kind of just went off the deep end.


MACCALLUM: He says he went off the deep end.

SANDERS: Loo, I was there for that interaction actually, Martha. We had a very good tour and interaction and meet and greet if you will with workers at the plant in Michigan and what I can tell you is this that there is some real misinformation going on as it relates to Vice President Biden's record when it comes to guns and gun safety and in America and the reality is no one has been more forceful and more effective in taking on the NRA than Joe Biden.

He has beaten them twice. The last time, assault weapons were banned in this country, Vice President Biden banned them and when - if and when he is elected president, I'll say when because we fully intend to win, he will ban them again and so the reality is what you saw was Vice President Biden responding to frankly a distortion of his record.

No one is against the second amendment. No one -

MACCALLUM: You know as we'll as I do, there's a lot of people out who own AR15s, who thinks it's their right to own them. I'm not here to say whether or not that's the right thing or not but they're not going to want to let go of those and you know, that's going to be an issue in the campaign so we'll see. Symone, thank you. Always good to have you here and good block the other night when you got that person off the stage, very impressive. 
Thank you so much. Good to see you.

SANDERS: Thank you.

MACCALLUM: So joining me now is Karl Rove, former deputy Chief of Staff to President George W. Bush and a Fox news contributor. Karl, as you look at you know, in hindsight all the way last night and what happened, how do you think this race is shaping up today and the fact that Sanders is not leaving?

KARL ROVE, FOX NEWS CONTRIBUTOR: Well, first of all, it's Biden's to lose. If in the contest going forward, he needs to win only 49.9 percent of the delegates in order to get to a majority. Sanders would need of the remaining delegates to be elected, would need to re - need to get 55.9 percent in order to get to a majority, given where the two men are today.

So easier for Biden to get to where he needs to be than it is for Sanders but I think we've seen you know, we've seen that - normally what would happen now is somebody would say, you know what, I've lost - let me maybe give it another shot, at another week but if it doesn't turn out maybe I should fold my tent.

But Bernie Sanders is not the conventional politician who might be inclined to do that. He believes, he's leading a revolution to both transform the Democratic Party and then to fundamentally transform the United States of America.

So it struck me today that when he talked about the debate and he said, I'm going to ask these questions of Joe Biden that he was saying to his supporters, I'm still in this fight, may not be the nominee but I'm going to fight for these ideas. If he's not going to be the candidate, he wants to be able to write the platform and he's had great success in drawing the Democrats including Joe Biden to his direction.

Biden has endorsed some very unusual things that he would not as a traditional Democrat necessarily jumped out and endorsed you know, health care for illegal aliens, free healthcare, he endorsed the court framework of the Green New deal and at one point said even if that cost hundreds of thousands of manufacturing jobs, he was willing to do it.

MACCALLUM: He said charter school - no more charter schools. I mean, that's

ROVE: No more charter schools. I'm going to ban drilling on federal lands and in federal waters immediately. So there's lots of stuff, he's - he's been drawn to the left by Bernie Sanders and Sanders is leading a revolution is going to stay in the revolution as long as he's got resources, as long as he thinks it advantages what he wants to do, which is to transform the Democratic Party, have him endorse his socialist agenda, committed to transforming the country.

He's not the normal politician who cares about what James Carville with all due respect, my pal Jim and who Rep. Clyburn in fact, I think that's counterproductive. The more they do that, the more the Sanders people say the fix is in.

MACCALLUM: You don't think they should shut this puppy down?

ROVE: Yes. You need to shut this puppy down.

MACCALLUM: SO real quick, who is Biden's best for the election, his best VP pick in your mind?

ROVE: Well, I think there's going to be a lot of pressure to have a woman in particular woman of color. I'm going to write about this for the Wall Street journal next week, touching on it so I don't want to give away everything.

MACCALLUM: Don't give it away. We'll have you back.

ROVE: There's some good choices. There's some good choices and bad choices. 
The good choice is going to be somebody who's thoroughly vetted, the bad choice is going to be somebody who's not been thoroughly vetted on the national stage because that could cause him problems, being as old as he is, we're going to pay slightly more tension to the vice presidential nominee than we normally do.

MACCALLUM: OK, it makes me think back to some prior elections and some match ups that we might see some comparisons too in that piece. Karl, thank you very much. Good to see you tonight.

ROVE: Thank you. You bet.

MACCALLUM: So there was a lot of debate over which side won the impeachment narrative. Tonight we have some of the first hard data on that and it did not turn out well for Democrats. House Speaker Nancy Pelosi's daughter, Christine Pelosi, here to respond live to that and other things tonight, coming up next.


MACCALLUM:  So, the fallout from impeachment finally coming into view tonight, two months after the Senate trial cleared President Trump on both of those charges. Approval ratings, this is from Gallup, this is the Gallup poll are on the rise for congressional Republicans according to their polling.

And since October, Speaker Nancy Pelosi's unfavorable rating went from 50 up to 55 percent.

Here now to respond to that and a few other things tonight, Christine Pelosi, Speaker Pelosi's daughter and the author of "The Nancy Pelosi Way," and she's very involved and follows very closely all the Democratic politics, of course. Christine, good to see you tonight.


MACCALLUM:  So, obviously you don't want to see your unfavorable numbers take up 5 percent and Speaker Pelosi was reluctant admittedly so to go down the impeachment road, so what do you make of how these numbers are looking?

PELOSI:  Well, she far out pulls Mitch McConnell and the positives, I looked at the Gallup poll after we discussed it this afternoon. And basically, it looks like Republicans came home to the congressional Republicans giving them a bump, and about two-thirds of each party approves of their members and oddly Mitt Romney, or perhaps not oddly, Mitt Romney his ratings are about the same what he lost and Republicans who are mad at his impeachment vote, he gained in Democrats. So that --


MACCALLUM:  Yes, we have that Gallup poll, can you guys pop that up while she is discussing that? There we go. Go ahead. Sorry.

PELOSI:  Right. So, it looks like he -- it looks like basically this is based on impeachment, you know, Democrats did about what their party thought they would do, Republicans seemed very happy perhaps pleasantly surprised with what their party did to protect the president.

And again, what Romney lost among Republicans, he gained in Democrats. So that's your snapshot, I also think that frankly everybody's numbers are going to be really more into focus now as we look at the coronavirus response and how people respond to use their power now. Hopefully for the common good and the health and wellness of the American people.

MACCALLUM:  Yes. I mean, that's something that we all want to see. It will be interesting to see because we're so in the middle of this coronavirus moment which we certainly hope doesn't last very long -- but we are in it right now for sure and it sort of puts impeachment in the rearview mirror.

But you have to wonder if you accelerate through, you know, the summer when you get into the heat of the general election and the conventions, my guess is that hopefully we are past this virus moment and the impeachment thing comes back because it does appear that, you know, voters weren't really all that happy with the fact that it was pursued.

Has Speaker Pelosi, you know, sort of, has she talked about that? Does she think in the end that they shouldn't have gone down that road? That maybe it wasn't all that popular with the American people?

PELOSI:  Well, again, it was popular among people who felt that there was an abuse of power by the president and as we've discussed before, you don't base, you're doing the right thing and following the rule of law on a poll. 
The poll numbers tend to bounce around. I think that more Democrats and Republicans will come home as it were to their parties in the general election.

So, you'll also have to look at what those people who either disapprove of the president on the Republican side or disapprove of Democrats on the Democratic side due in a general election matchup, where now you have as it were impeachment at the polls or not. And I think that will be the question next October or earlier for our troops who start voting in September.

MACCALLUM:  All right. Christine Pelosi, we had a longer conversation on my podcast, the untold story, which you can -- I hope you'll tune in to and listen to. We talked about the upcoming debate and we talked about Biden versus Sanders, and potential V.P.s picks as well. So, tune in for that.

Christine, thanks, too. Thank you. Good to talk to you tonight. Thanks for being here.

PELOSI:  Likewise.

MACCALLUM:  So, some devastating news on Wall Street today as the longest bull run in U.S. history officially came to an end. So, what is the White House thinking tonight about potentially trying to turn this situation around? Ease things for the American economy.

We are waiting for a live prime time address from the president from the Oval Office, very important speech this evening. Stay tuned.


MACCALLUM:  So, not a great day in the market if you haven't -- if you haven't looked today, it plunged. And this number marks the end of the bull run of the U.S. stock market which has been going on for, I think 10 years. But I'm going to -- I'll get the correct number on that in a moment.

Investor anxiety continue to grow, of course, because there's such long tentacles to this coronavirus outbreak because all of these things are getting canceled.

President Trump met with bank CEOs as he now prepares to address the nation in about an hour and 20 minutes from right now.

So, Fox Business correspondent Susan Li has the latest on all of this, that meeting.


MACCALLUM:  This market. Tell us, Susan.

LI:  Well, when you see bank CEOs gather like that in an emergency meeting rightly or wrongly, it eerily reminds people of the global financial crisis.

MACCALLUM:  It certainly does.

LI:  But that was the message that the bank CEOs wanted to send from the White House today. This is not 2008, listen.


UNIDENTIFIED MALE:  This is not a financial crisis.

UNIDENTIFIED MALE:  We need to remind ourselves that part of getting through a challenge like this is about confidence and supporting each other.

UNIDENTIFIED MALE:  We are very strong in cap (Ph) place. We are in great position in terms of liquidity and capital and strength.


LI:  But it was ugly on Wall Street today, so we saw a really steep decline and this ends the longest bull market run in history. So, it was a great 11 years, two days, started on March 9th at the bottom of the financial crisis. You made over 500 percent, you made over $20 trillion, not bad but now we've fallen into what they call a bear market, so we are 20 percent down from recent highs.

And it's the fastest bear market in history, even faster than the Great Depression. And I know people always say that the stock market is not the economy but the stock market is a leading indicator as to where investors think the economy will be in six months' time.

And this type of price action is telling us that they expect a very steep economic decline because of the coronavirus. So, it really depends on what President Trump says tonight in his address, will we get some more stimulus in the form of tax deferments? maybe cash injections.


MACCALLUM:  But that's my question. if you cut the payroll tax, right, is not going to, in this moment.

LI:  Yes.

MACCALLUM:  It's not going to make people jump on airplanes and cruise ships --

LI:  Right.

MACCALLUM:  -- just because they have a little bit more money in their pocket. I mean, in terms of how the consumer responds to that, and what would make the consumer respond differently in this moment. I'm not sure there's a lot that you can do.

LI:  Like instantly. Although if you do have more money in your pocket you will eventually spend that and as you know the U.S. economy --


LI:  -- is two-thirds powered by the U.S. consumer. But I want to point out to our viewers that we have seen the U.S. economy and stock markets have recovered from pandemics. For instance, the SARS in 2003.


LI:  We went up 14 percent in the six months after recovery from Ebola, zika, swine flu, so there is a bottom and recoveries are steep and sharp.

MACCALLUM:  We look forward to that.

LI:  Thank you.

MACCALLUM:  We're right in the middle of it right. So, hang on, everybody. 
And I think the bank CEO had a good point, you know, we have to have be confident in ourselves --

LI:  Yes.

MACCALLUM:  -- as a nation and as a people that we are going to get through this.

LI:  And this is not the financial crisis. Right?

MACCALLUM:  Susan, thank you.

LI:  Thank you.

MACCALLUM:  Susan Li, always great to have you with us.

So, after two bad Tuesdays, Bernie Sanders is sticking to his vow to stay in this race but can he keep his staff and his supporters from jumping ship?

Jesse Watters has some thoughts on all of this tonight and he's up next.



REP. ALEXANDRIA OCASIO-CORTEZ, D-N.Y.:  There's no sugar coating it, tonight is a tough night. Tonight, is a tough night for the movement overall.


MACCALLUM:  Alexandria Ocasio-Cortez admitting disappointment after her preferred candidate Bernie Sanders had another bad night. The question many are asking now if Joe Biden wins the nomination, will progressives like her be able to rally behind Joe Biden?

Here to break down the slowing momentum of the Sanders campaign, Jesse Watters, host of the Watters World and co-host of The Five. You're a big Bernie Sanders fan. Right?

JESSE WATTERS, FOX NEWS HOST:  Yes, I'm feeling the Bern.

MACCALLUM:  How are you feeling, you're a little upset for how --


WATTERS:  I'm just spawned it, Martha. But you know what, the revolution never dies, it just lives to fight another day and that day is Sunday where Bernie is going to beat Biden one-on-one at that debate. Biden has already knocked down his speeches to about seven minutes.


WATTERS:  They are pulling him back.

MACCALLUM:  And Bernie Sanders said that that was the only thing he said to us at the town hall, you know, we are trying to ask him about Biden. He said -- he said, you know, I go on for 45 minutes to an hour because I have a lot of issues I need to discuss. He only talks about seven minutes.

WATTERS:  He needs to hit him a little harder than that.


WATTERS:  And he can't just win on the cards, he needs a knock out so he has to go dirty. He has to, you know, Biden's brain needs to be fair game, his gaffes are on the table, his son, where is Hunter. That has to be on the table. And he has to chip away --


MACCALLUM:  You don't think Sanders is going to ask him where his son is.

WATTERS:  There are ways to talk about ethics without maybe --


WATTERS:  -- saying where is Hunter? So, you know, seniors, you got say he wants to slash social security. Black support, you got to say his crime bill was locking people up. For marijuana, for many, many years.


WATTERS:  So, he needs to change the trajectory of the race fast.

MACCALLUM:  Maybe you should go help him out, and help him prepare.

WATTERS:  Bernie, if you're listening, call me.

MACCALLUM:  I think he just gave you a long list of potential ways you can go. This Hillary documentary is fascinating to me. Here's a little piece of it and she's talking about why it was OK that she had the e-mails on that server. Watch this.


HILLARY CLINTON, FORMER UNITED STATES SECRETARY OF STATE:  There is no regulation against it, there is nothing against it. Everybody knew I was doing it because they were all e-mailing me.

I am the most investigated innocent person in America. And they just, you know, they are just -- see that's why -- that's why this is not just politics, it's deep cultural stuff.


WATTERS:  I would say Donald Trump is the most investigative person in America.

MACCALLUM:  I love -- I know. When I first heard this sound bite I thought, you know, it's so interesting because he would say the same exact thing.


MACCALLUM:  That she says I'm the most innocent investigated person, you know, and everybody is, you know, going to have their own opinions about all of that but she believes that for sure.

WATTERS:  Yes. You know, she says vast right-wing conspiracy --


WATTERS:  -- he says hoax, we'll let the audience decide what's worse. 
She's still talking about her e-mails.


WATTERS:  She can never get away from her e-mails.


MACCALLUM:  How long is this documentary? How long is it, guys? Four episodes of an hour or more. So, it's four hours. So, I mean, eventually --


WATTERS:  it's going to come off.

MACCALLUM:  It's going to come off.

WATTERS:  Martha, why is she doing a documentary right now? She's doing this right in the middle of the Democratic primary.


WATTERS:  Why does it always have to be about Hillary?

MACCALLUM:  I don't think she wants to, you know, she doesn't want to fall out of the dialogue at all.

WATTERS:  She needs attention, she's going on tour with her husband, she's got a book, she's got a book with her daughter.

MACCALLUM:  But she didn't go there right?

WATTERS:  No. The tour, they had to slash ticket prices, no one showed. It was like, the coronavirus, they were all for ratings socially.

MACCALLUM:  OK. I'm not going to make a joke about that.

WATTERS:  Don't, I'll handle it.

MACCALLUM:  OK. Thank you, Jesse.


VAUSE:  Always good to see you.

WATTERS:  You, too.

VAUSE:  Coming up next, the story of World War II hero, a young combat pilot who went into battle with very little training, he shares his very vivid memories of fighting for our country, next.


MACCALLUM:  So, while doing the research for "Unknown Valor" I was humbled reading so many stories of sacrifice during World War II. Many young men who volunteered to serve in the war with little to no experience whatsoever, including this man, including this man, Sam Folsom who as far as he knows is the last living World War II Marine combat pilot. He is 99 and he remembers every detail of those fights. Watch this.


SAM FOLSOM, PURPLE HEART RECIPIENT:  I was honored to be able to serve in Guadalcanal and in Okinawa and in Korea and flight test airplanes. I was a test pilot for two and a half years. I was an incident the navy on active duty, resigned my commission, went to flight school and came out as a marine.

Flight training was not available. Airplanes were constantly being rebuilt to be seen overseas. So, the pilots kept fly training once in a while. I was sent overseas as a fighter pilot with no experience, none of us had any experience at that time.

When I say no experience, I had a total of something like 15 hours in the airplane. Went I went overseas over a period of three months so that's nothing. When I first got into combat, I flew my first mission with an oxygen mask at 28,000 or 29,000 never having worn and oxygen mask before, never having fired my gun in the air and with a total of someplace between
13 and 14 hours flight training.

No time to be scared. That doesn't mean that down deep inside I wasn't jumpy but I had no real knowledge of fright. I was so busy saving my own hide. I think I'm safe in saying none of us had any gunnery training in the air. We had all fired our guns at ground targets but we had never flown in combat. We have never fired our guns in the air.

I got shot up several times. When I say shot up, I was flying around and the Japanese shot me in my airplane. We didn't know what we're doing. None of us had ever fired at an aerial target. None of us had fired our guns at another target until we fired at Japanese planes at high altitude.

We simply went up there and put their sights on something and fired. In all my flights where I was in combat, I used up every bit of my ammunition. 
There was none of this sitting and figuring somebody out and shoot them down. You get up there and you fired.

So, on several occasions, I got rid of Japanese on my tail shooting me up, and I had no ammunition. All I could do is dodge. Some of the war is still right there. I remember being shot up and shot down. Terrible things that happen stay in your mind.

I was in combat long before I should have been. If one lives long enough having been in the service, one becomes a hero. I certainly was in some very hot spots. I can remember every detail of every one of those flights. 
I was happy to had the, in retrospect, happy to have had the experience. I was honored to be able to serve. I had innumerable, wonderful experiences that will stay with me.


MACCALLUM:  Amazing, amazing, amazing stories. Sam Folsom, 99 years old. 
And says the war is all still up here in his head. And boy, is it, what an amazing, descriptive events he describes to us there. We thank him for his service. During the interview we asked him how long he'd been married to his wife Barbara. Watch what he says.


FOLSOM:  I don't remember. Time went -- time has flown with my wife.


FOLSOM:  It doesn't seem like that long.

UNIDENTIFIED MALE:  Sixty-eight years.

UNIDENTIFIED FEMALE:  Sixty-eight years.

FOLSOM:  Sixteen years, all right.


FOLSOM:  How much?


FOLSOM:  Sixty-eight, that's right. Excuse me. I'm sorry.


MACCALLUM:  So, time flies when you're having fun. They've been married for 69 years. It's a beautiful story. Sam is going to be featured in a documentary called marine pilot. And we thank him for his time and I thank Kelly Meyer (Ph) our producer for doing a beautiful job with that.

And that is the story of Wednesday, Marth 11, 2020. But as always, the story goes on. So, we will see you back here tomorrow night at 7 o'clock, and of course the president will be speaking about an hour from now from the Oval Office and we all want to watch that. So, we'll get the latest update on the coronavirus. Be well, everybody. We'll see you back here tomorrow.

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