Down, along come the rebel populous traders to say not on our watch. How big does this get . Welcome. Im neil cavuto. This is your very well depending on the stocks, profitable world. Not so great for the conventional market which is taking it on the chin because namely washington will take its investigations to gamestop and a host of others and all of these others that have been jumping far and fast. Susan li on the end of week theatrics that i dont think are ending on this end of the week. Hey, neil. The gamestop readit frenzy has taken wall street to unchartered territory. We have never seen volumes like this before. Its making investors nervous. The dow jones breaking below 30,000 this afternoon for the dow and the s p finishing the first month of the year lower. While it was a major selloff, the gamestop rally was backed on and amc and express and cost. This after robinhood allowed their traders to trade again raising a billion in cash to ensure they have enough money to clear the huge volume of trades. The move also angered robinhood users of rigging the the app. The fcc said they will review actions like robinhood that made disadvantage investors or otherwise inhibit their ability to trade but also adding the sec will act to protect Retail Investors when the facts demonstrate abusive or manipulative trading activity. An investigation that Elizabeth Warren said she asked for. She treated casinolike swings of gamestop reflect wild levels of speculation that dont help gamestop workers or customers and could lead to market instability. The stock market sold off into the afternoon. Robinhood customers were only allowed to buy one share and five options contract. Thats not Free Market Capitalism at work there, neil. John yeah, i guess better than nothing. But its getting weird. Susan li, thanks. Very hard work today all around the clock following this development this asp. So much we dont know. This much we knew, the markets give and take right now. So all of these people are holding on to multimillion Dollar Fortunes in some cases given the runup in the stock. What happens if they want to get out . What happens when they all want to get out at the same time . That could be problematic. I have the two charles with us. Charles payne, of course. Charlie gasparino. Gentleman, welcome. Charles payne, the fact that the government is sniffing around and something that well rate with pat toomey of pennsylvania, what do you make of that . Theyre beginning to say wait a minute. We have to look into this. That always raise as red flag, right . And of course, in this environment, people are wondering, what part of this saga are you going to be sniffing around . Will it be the ability to short 140 of a company . Look at the top ten shorted stocks. Tootsie roll, those kind of names. 70, 60, 80 of a company. A lot of people universally believe something is wrong there. I would start there if i was congress. Listen, if robinhood is having trouble, they have to look back and understand how they seduce or wooed all of these customers and maybe figure that part out. So im worried about congress, but im not im glad the attention is reaching certain levels, that this is a mainstream story because if the underpinnings of this are mainstream in the sense that those that have not had a chance to participate, those that dont think they have a lot of money, those that think their forays in the market were crushed, they feel like maybe collectively they have a voice and being taken seriously. John you know, youre saying that maybe the best protection of all is recognizing that it sounds too good to be true or probably is and if youre getting too selfish, that is on you. Im getting a general sense of where you are on this. Not necessarily for washington intervening. It could cause more harm. Heres the bottom line with short selling. Heres why i worried. Short selling actually exposes so many frauds. Stock markets are much more filled with touters and people that pump up these stocks like gamestop. When was the last time you were in a mall or blackberry. Those stocks are being touted. Investors are getting in the stocks thinking that theyre great based on flimsy research. Guess what . The short sells come in and give you another side of this story. So if you think getting rid of short selling is a good thing, think again. It will lead to many more ripoffs. The problem on this, i dont think theres much washington can do. You can investigate market manipulation. Its almost possible to peel back. A lot of this Message Board Stuff is all anonymous. What is the difference between a tout and a real belief in something . You have to delineate that. The real thing i think is what is going on here is that when you have the Federal Reserve just putting having 0 Interest Rates forever, youll get gamestop, that is at 3 a share shoot up to 40 a share, which is when the shorts came in and said this aint worth it. It full of irrational exuberance. The big thing is, you want to add some reality to the markets . Add some Interest Rates and make sure you have to pay for money here. John all right. That could be a whole another phenomenon here. Having said that, Charles Payne, youve been saying we dont waste a nano second looking the other way when shorts and the big hedge funds are losing a lot of money here and we dont hold them accountable. God forbid the little guy make money and were zeroing in on him. Is it that way or just a sense that this is like a market event that were assigning values to comes that are way beyond the norm. I mean, something that we see happening to the small guys that are targeted because of the focus of shorts, they get a disproportionate amount of attention. What do you think . Its easy to say that tesla is not the same the last five, six, seven years. People have been saying the same argument. Im not here to argue values. Two weeks out, i put out a list of shorts that people should buy. Most of them last week. The only one i took profits was spaced. They were all grand slams. Everybody that bought these at 50 will hold it until it goes back down to one is a farce. These are not dumb people. Human nature. A lot of people have made a lot of money. The main story here is that wall street, hedge funds, its just you think the stock is 100 and should be 80. They dont just go short. They put together 50page reports, they get to go on tv. They have their own networks, their own very powerful networks. They dont need a chat room and get people with 400. Theyll make two or three phone calls. The idea that the hedge funds are being disadvantaged here is a farce. Look at the short thesis on blackberry. The analysis on blackberry and the long thesis on blackberry. Let me tell you one thing, charlie. Let me tell you one thing. Look at the short thesis on gamestop. Charlie, let me tell you one thing. I bought blackberry in my own account a year almost a year ago. John let Charles Payne answer. Go ahead. Who cares about your thesis . Who are you . Who are you . Who cares about your thesis . Not all the money in there are smart people. Theyre people being letter straight. It happens every few years and guess who . People were led astray when they bought General Electric at 54. Guess what john there were a lot of people buying tesla. They the crowd that shorted tesla looked very wise. When retrospect, maybe not so much. Amazon for years was a stock that experts side dont buy. Heres the thing. I bought blackberry a year ago in my own account because of 5g technology. I just happened to see the Short Squeeze and take it. My broker said remember this . I told you a year ago what does that mean to you . I said i bought it a year ago. Theres people listen, i didnt want to do this with anybody else that wouldnt let me speak. One at a time. So youre saying people are grownups, they can invest in something and doesnt work out. But theres theyre qualified as a hedge funds im not judging qualifications. Im judging opportunity. Im saying who the hell is anybody out there to say, oh, you should stop being able to own oh. Nobody is saying that. I would love to be able to get more than three seconds nobody is saying that, charles. Heres the bottom line. Everyone has theses youre calling people stupid. The bottom example Rush Limbaugh and these lunatics are saying its a class warfare them. I tend to agree with rush on this. Its absurd excuse me. I would like to talk for more than one second, my man. Give me a chance. Im asking you to let me talk for a minute. Now, robinhood raised A Billion Dollars this morning. They could have raised that yesterday. They could have raised 10 billion. They want to go public. The insiders dont want to give up anymore equity they dont have neil, im out. I dont want to finish this. He keeps interrupting what kind of nonsense is this . I want to understand, are you real quickly. Are you for the government looking into this . No. Charles, youre a not. I want them to make sure you cant short 140 of a company. I want to make sure hedge funds cant shorting unlimited amount of stock because every short is a deliberate sale, a deliberate attempt to knock the stock down. Thats not a free market. All right. Okay. Guys, great having you on. We saved a lot of time talking over one another. That never gets old. Thank you. Go to neil cavuto saturday. Thanks fine. Senator pat toomey, one word for you. Help. Very good to have you, senator. Thanks for taking the time. Thanks for having me. Obviously this is like emotional, volatile. You can understand. Im curious because a lot of folks i know youll be leaving the senate. A lot of people are disappointed to hear that. Youve always been a voice of reason. Im wondering whether washington could get ahead of itself here. That is the fear of both sides. What do you think . Well, we shouldnt let that happen. I do have colleagues that have already been making noises about somehow the sec stepping in and new regulations and new laws. I see no case for that at this point. I do think we should understand why the brokers made the decision they made, several of them, including robinhood to limit the ability of people to buy stock. I think theres applausable explanation that has to do with the additional capitol required when stocks are volatile. Lets make sure we insurance that. Lets remember, neil, the technology, the innovation of some of these companies that have made a User Friendly app that allows you to trade stocks for free and including fractional shares of stocks, this is a wonderful innovation that is bringing Investment Opportunities to people of modest means who never would have had that opportunity before. This is a really good development. I dont want to do anything to damage the opportunity of individual folks, middle income, blue collar folks, to be able to participate in a big wealth generating machine, which is historically what the stock market has been. Thats what theyve been characterizing it, senator. A chance for the little guys to do what the big guys have done. The markets have sold off today. Part of the concern is the hedge funds that were very important in this whole process, big short players like melvin capital, citron, might be losing, you know, billions here. That was enough the case with melvin that big investors like ken griffin and steve cohen poured 2. 5 million to keep them going. So the fear that others were exposed to the big hedge funds and might have to be rescued if it gets that people. People say theres something systemic going on here. Do you worry about that . Im not aware of any of it, that theres a Systemic Risk in the capitol markets. Our markets have been profitable. Weve had an amazing runup. The idea of giving back wouldnt be the least bit surprising to me. Its worth pointing out that look, this is a classic bubble. Lets just be honest. It had all the components, a number of events that has caused an unbelievable run up in a stock that is unsustainable. When this ends, this ends badly for the people that buy in late. Just as it went badly for the hedge funds that shorted early. The hedge funds need to live with the consequences. Thats life. Theyre big boys. John should individuals as well then, senator . We dont need to be neil, the individuals also have to live with the consequences of their decisions. I hope they have the good judgment to not make speculative investments of money they cant afford to lose. Thats their decision. We shouldnt regulate them out of the marketplace. Got it. Senator, very good. You didnt bring as much fire as the two charles did. I appreciate your being here just the same. Thanks for having me on. Very good. Press secretary talking about the pentagon is going to help out in Vaccine Distribution and the rest. But i feel tempted now to just ask him about gamestop. Not really. Hes next. Call 1800tmobile or go to tmobile. Com 55. Research shows people remember commercials with nostalgia. So to help you remember that Liberty Mutual customizes your Home Insurance, heres one thatll really take you back. Its customized Home Insurance from Liberty Mutual only pay for what you need. Liberty. Liberty. Liberty. Liberty. This is what Community Looks like. Caring for each other, protecting each other. And as the Covid Vaccine rolls out, well be ready to administer it. If these beautiful idaho potato recipes are just side dishes, then im not a real idaho potato farmer. Genuine idaho potatoes not just a side dish anymore. Always look for the Grown In Idaho seal. All right. Were not far away from lloyd austin on capitol hill. Hes talking about the National Guard commitment, how many guards will have to stay on hand in washington and for how long and where else they might be needed. So hes busy just having gotten approved and ready to go. John kirby, the Pentagon Press secretary. Had that role with barack obama. Good to have you. Thanks, neil. Great to be with you. John so what do you think of gamestop . Just joking. Let me talk about this National Guard troop commitment and how many troops will be required or likely to stay. Can you update us on that . Well, so right now, neil, theres a little bit more than 7,000 or so in the capitol region. I want to make it clear that is not that is not 7,000 on the street at any time. Theyre in shifts. A smaller number during the day. The numbers will go down over the next month or so as the commission itself the purpose for the mission declines. The health of the soldiers in general and dealing with the vaccining all over the country to speed up the process. Can you update us on that . We got a request from fema. Its being analyzed to use Department Of Defense capacity and capabilities not to distribute the vaccines, but to help administer the vaccines for the American People. And i wouldnt be able to get to the request itself but its going through the same process that in request for military forces that comes in from our commanders goes through. It will be sourced by the services and once we analyze it and determine the risk and whether that is resources to apply to it, well be out and about. Secretary austin has made it very clear that the Department Of Defense does have capability and capacity and he wants to make sure were leaning forward and leaning in to the larger federal Government Mission here. So could i switch gears here and talk about the middle east . The planned roll back and be eventual exit of our troops out of that area, out of that region, particularly in afghanistan. I know you have reported and mentioned as the secretary that the talibans refusal to meet commitments to reduce violence could inhibit or prevent that. Where do things stand now . What were doing is with our colleagues at the State Department, were reviewing the status of events in afghanistan. No decisions have been made about our Future Force Posture there. The Department Of Defense stands fully in support of the State Departments lead on trying to get a settlement. There has to be a political solution here bolstered by a cease fire. Thats where the Defense Department wants to help contribute. So right now Secretary Austin as he said in testimony, we want to take a look at the negotiations that have occurred between the taliban so we can better understand the nature of the commitments. Clearly violence has not stopped there. S that a real key component going forward. But i know you said and openly committed for a full troop withdrawal from the region. Seems this is making a leap, that its not going to be imminent. I dont want to get into hypotheticals, neil. Were going to review the status of the negotiations going on. We made no decisions about Future Force Posture. The secretary looks forward to speaking with commanders and get a better grip on what the troop level ought to be going forward. Weve been hearing initially anyway that the 2,500 troops that they have right now are commensurate with the missions that theyve been given. The secretary says he wants to get he wants to get a little more knowledge and context about the mission itself going forward. Were not making any commitments on Force Posture at this time. I know youre just settling in as a secretary. This happens at the beginning of every new administration. The chinese takes a provocative action in South China Sea where theyre building their presence and other matters. More bellicose regarding taiwan and the push for ends, something to them that is a nonstarter. The chinese. As a secretary, are you worried that china has emerged