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Citigroup Nears Settlement on Bad Mortgages; Interview with Sen. John Cornyn; President Asks for Emergency Border Funding; Interview with Director Rob Reiner
Aired July 9, 2014 - 08:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KATE BOLDUAN, CNN ANCHOR: Chief business correspondent Christine Romans is here. What is going on?
CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: Good morning, you guys.
Well, the big story this morning: Citigroup reportedly nearing a $7 -- $7 billion settlement over selling bad mortgages leading up to the financial crisis. The deal would include billions in help for borrowers, for homeowners. An aggressive stance from the Justice Department, squeezing out much more than anyone expected from Citi.
More good news on the jobs market. Job openings soared in May, 4.6 million job openings. That's the most since 2007. Here's the math. For every open job in America, there are about two people looking for work. That's a vast improvement from 2009, when there were seven unemployed people per job. And I can tell you more people are quitting their jobs. That's also good news. It shows confidence in the jobs market.
Some bad news about the most important meal of the day. Bacon, eggs and coffee -- oh, my -- getting more expensive.
BOLDUAN: Oh, no.
ROMANS: The hike is mainly affecting fresh ingredients. Your cereal and processed foods, boxed processed foods are safe for now. But the most important meal of day, you're going to pony up, boys and girls.
JOHN BERMAN, CNN ANCHOR: Fresh bacon, the price is going up.
BOLDUAN: And I have, like, two breakfasts.
ROMANS: The Pop Tarts are not affected.
BOLDUAN: Oh, good. Whew.
BOLDUAN: Thankfully. Thanks, Christine.
Coming up next on NEW DAY, President Obama and Governor Rick Perry of Texas, they're meeting to discuss immigration -- the immigration crisis today. We're going to talk to Texas Senator John Cornyn first. He's going to be joining us to us talk about what is on the table.
BERMAN: And Rob Reiner back in front of and behind the camera. The director of "When Harry Met Sally," "The Princess Bride," "This is Spinal Tap," almost every good movie ever made in America, he is joining us to talk about his latest film. That's ahead.
BOLDUAN: Welcome back to NEW DAY.
Today President Obama is heading to Texas. He's going to be meeting with the governor, Rick Perry, there in Dallas to discuss the immigration crisis along the U.S./Mexico border. This is after the White House has asked Congress now for nearly $4 billion in emergency funding to deal with the tens of thousands of illegal immigrant children and families who are seeking refuge in the United States.
But the question is, will the -- more money fix this problem? What will stem this surge?
Joining us now to discuss, No. 2 Republican in the Senate, John Cornyn of Texas.
Senator, good morning.
SEN. JOHN CORNYN (R), TEXAS: Good morning. Good to be with you.
BOLDUAN: Thank you very much. It's great to have you.
So the president is heading to Texas. You have been very critical that the president has not been planning to go to the border. I heard you say that he has -- he either doesn't understand the crisis or simply doesn't care. The White House has given no indication that he's going to go to the border, but if he would go to the border, what would that change?
CORNYN: Well, he would see what I saw and what other Democrat leaders in Congress have seen, and that is a humanitarian crisis that's unfolding, in part because of the perception that the president's not committed to enforcing the law. And so there's no deterrent for these children, many of them very young, from taking this long perilous journey up from Central American through Mexico, subject to the tender mercies of the cartels, who treat them as a commodity.
Many young people, women are assaulted; people are kidnapped. Some don't make it, because they're injured. This is a real crisis, and the president needs to treat it as such.
And I think traveling from Dallas to the border -- it's a 500-mile trip; that's not far to go on Air Force One -- would help him understand. You know, presidents sometimes live in a bubble, and I think right now the president's looking at this through more of a political lens rather than a policy lens. He knows what to do, and he should go to the border and show his commitment to solving the problem. BOLDUAN: Let's talk real quick about at least one of what people are
pointing to as the roots of this surge, the cause behind it. You mentioned the perception that he's -- he is not being strong enough on deportations. You wrote an op-ed kind of saying just that earlier this month in "The Dallas Morning News." It was headlined "Obama's Deferred Action Policy, Not Congress, Led to Illegal Crossings."
But we do know when you're talking about the deferred action order in deporting young -- deporting young people, that was put in place in June 2012, and when you look at the numbers, the numbers were already surging years before that. How do you square that?
CORNYN: Well, it started, actually, with a memo written by the then director of Immigration and Customs Enforcement, John Morton. It's really been a progression of things, culminating, I think, with the deferred action announcement. But the irony here is that even the president has said the deferred action executive order would not apply to these children, and he himself has called for their return to their country of origin.
Really, I think the vulnerability that the cartels and other criminal organizations have figured out, because they're making big money off of transporting these kids up through Mexico from Central America, is the lack of detention pending a court hearing. And what's happened is these children are placed with family members in the United States and given a notice to appear for a later court hearing. Some have called this a notice to disappear, not a notice to appear, and 90 percent of them don't show up.
BOLDUAN: And that's getting to that 2008 law, that law that was passed by unanimous consent in the Senate under the Bush administration. Do you support -- I assume that you support changing that law.
CORNYN: Well, I think that needs to be changed so that these -- all people who enter the country illegally, whether they're adults or children, are detained pending a court hearing.
You know, really one of the benefits of a court hearing for these children is some of them may actually qualify for some benefit under our current immigration law, but if they don't show up, they are given a default order of deportation. But the problem is, ICE doesn't have the capacity to pursue them and return them to their country of origin, so there's no deterrent. So they're going to keep coming.
BOLDUAN: Part of the problem with that, I mean, if you look at the maybe unintended consequence of that law, was that this can go on for years, that children, young people are waiting to have this court appearance. Obviously, you change that law, it's giving more authority to speed up that deportation or speed up that process to get them before a judge.
I wonder, though, how quickly do you want to see young people deported, sent back, because the White House has been asked this, and they have not given a time limit. CORNYN: Well, the president himself has said that his policies would
require the return of these children to their families and their country of origin, but with what we need to do, I think we do need to have more resources, more immigration courts, and a faster process. But you can't release people to family members with no hope that they actually return for their court hearing. That's how 90 percent of them avoid their court hearing.
BOLDUAN: With that in mind, then, will you support the president's nearly $4 billion request?
CORNYN: Well I'm anxious to work with the president and the White House and Congress to try to find a solution to the problem. I do think that some money is warranted for increased detention facilities and to surge more resources to the border to deal with this humanitarian crisis; but the president has divorced the money request from any policy change to that 2008 law which would actually solve the problem, and I think that's disappointing, to say the least.
BOLDUAN: You know, Senator, my colleague John, he asked a Democratic congressman this question earlier in the show, and I think it's important to ask. You, yourself, are calling it a humanitarian crisis at the border. What -- it's one thing to talk about the numbers and say there's a surge of people that are coming over the border, and we need to send them back if they don't qualify for -- if they don't qualify to stay.
But what would you, if you're faced with one of these young kids, what do you tell a child who's been brought over here that they now need to be sent back?
CORNYN: Well, I met a young man, 13 years old, from Central America last week, when I was in McAllen. I wish the president would go meet children like that on his visit to the border. But when we asked him where his parents were, he said his parents were dead. And of course, that breaks your heart, to think that that child has made this trip up here, because some family members paid $5,000 to the cartel to smuggle him up here.
But he may, in fact, if he shows up for a court hearing, qualify for an immigration -- an immigration benefit. If you're a victim of sex trafficking, human trafficking, you can qualify for a T-visa, they call it, while the criminal investigation is ongoing.
But right now these children simply don't return for the court hearing, and there's no deterrence. And so the numbers we've seen since October, 52,000 so far, are going to double and triple unless a solution is found.
BOLDUAN: With so many things, but especially this issue, timing is of the essence. Real quick, what's your sense? You've been in the Senate a long time; you're the Republican whip. Will there be action on this emergency request from the president before the August recess?
CORNYN: I sure hope so. And we're working with the House to try to talk about how, what the package would look like. It's the presidents prerogative to make the request, but it's actually up to the Congress, the House and the Senate, to work together to try to pass not only a package that would deal with the humanitarian crisis but one that would solve the problem. The president didn't request that part of it, but we're going to add it; and we'll send it to his desk, I hope.
BOLDUAN: Senator John Cornyn. Senator, thank you for your time. It's great to see you.
CORNYN: Thank you very much.
BOLDUAN: Of course. John.
BERMAN: Next up for us on NEW DAY, he is the man who could handle the truth. He is the man who is left-handed after directing such classics as "The Princess Bride" and "A Few Good Men." Rob Reiner joins us right here to talk about his new film with Michael Douglas and Diane Keaton. It is a great one. Rob Reiner with us next.
(BEGIN VIDEO CLIP)
MICHAEL DOUGLAS, ACTOR: Last time I had sex, I tore my ACL.
DIANE KEATON, ACTRESS: Is this relevant to anything?
DOUGLAS: Well, I just thought it's some information that you should have.
KEATON: Is this, by any chance, some pathetic attempt at flirtation?
DOUGLAS: Well, when you put it that way, no.
(END VIDEO CLIP)
MICHAELA PEREIRA, CNN ANCHOR: Oh, my goodness, it's one of the great scenes out of Rob Reiner's new film. He's directed some of the most popular movies of the past few decades. That was a clip from his latest project, called "And So It Goes." He both directs and stars in the new romantic comedy, alongside Academy Award winners Michael Douglas and Diane Keaton.
In the film, Douglas portrays kind of a self-centered cranky realtor whose life is changed when he enlists the help of his neighbor, Diane Keaton, to help out with a family situation. Quite a situation that is.
Joining us now is the director, Rob Reiner. In case you need to be reminded, oh, movies like "When Harry Met Sally," "The Bucket List," and of course, the favorite of the morning news here, of NEW DAY...
BOLDUAN: "Princess Bride."
PEREIRA: "Princess Bride."
BERMAN: Inconceivable. BOLDUAN: Inconceivable.
I promised we wouldn't have -- the entire interview would not be about "The Princess Bride" like it was last time.
ROB REINER, FILM DIRECTOR/ACTOR: That's OK. That's all right.
PEREIRA: I love this film. I saw it the other day, and I'm not just saying it because I'm on national television and you're sitting in front of me. I love it because it's about people, regular people who happen to be of a certain age, and it's no big deal.
REINER: Yes. Yes, well, I mean, we found that that when we did "Bucket List," there's an audience out there for stories about people who are, you know, finding love later on in life. We made the joke all the time that, you know, in our core demographic, we had, like, 100 percent desire to see with, like, a 40 percent ability to get to the theater. So -- but the point is, if there's something there for them to see...
PEREIRA: Once they're there, they'll watch it.
REINER: ... they like -- we're the largest bulge of the population. The Baby Boomers.
BERMAN: Are you drawn personally more to these subject matters as you get older?
REINER: I am, actually. When I...
BOLDUAN: He just called you an old man.
REINER: I know, I know.
BERMAN: I implied it. I didn't say it. That was the magic.
REINER: When I turned 60 I recognized, at that point, that I was a very, very, very young old person, that it was like the beginning of being an old person. And when that happens, you start, you know, looking at your life and thinking about mortality and thinking about all those cliches that you remember hearing when you were young that life is precious, you've got to live every moment and embrace life; and then you start internalizing that.
BOLDUAN: I think I saw -- I read that you said a lot of your films you write that you write -- that you direct reflecting your life that you see at that period of time. What does this reflect?
REINER: Well, it does. I mean, you know, look, I've made a number of romantic comedies over the years, you know, and basically, I tell the same story, and it's told at a different vantage point at one point in my life.
REINER: I mean, if you look at, you know, "Flipped" is 12-year-olds. Or "The Sure Thing" is college kids. "When Harry Met Sally" is, you know, young adults. Now with "And So It Goes," it's older adults. But essentially, it's the way I view this weird dance that we have between men and women.
Women are like, my view, they're more evolved. They're more connected to their feelings. They're more...
BOLDUAN: Keep going. Keep going.
REINER: Now, it's true.
BERMAN: You're sucking up. There's two of them and one of me.
REINER: I'm not sucking up. It's two against two, but men basically are idiots. We run around trying to figure out...
BOLDUAN: Sound bite, sound bite.
REINER: ... what to do until we meet a woman who is going to tell us what's important.
BERMAN: That's where I went wrong all this time. Now I understand. Where were you 20 years ago?
BOLDUAN: You clearly don't understand.
PEREIRA: ... to the fact, too, that you update this to bring in some really current issues of things that people are struggling with, and in fact, almost painfully reminding us of Michael Douglas's own situation.
PEREIRA: Wanted to ask you about that. He in the movie is dealing with, without giving away the -- you have to go see it. He has to deal with a child that is dealing with addiction.
PEREIRA: Was that written in? Or was it...
REINER: Well, here's the interesting thing. The script was designed before Michael Douglas was even thought of to play the part. And it does have, you know, a son that he's, you know, has to go to jail, and when Michael -- I was nervous when Michael read it, because I thought...
BOLDUAN: Because you're good friends.
REINER: We are good friends. We're very close. I thought, you know, this is going to be tough for him. But he read it. He said no, no, just leave it in there, and we'll go with it. And so, you know, they're very tough issues. But you know, when he plays those scenes he doesn't have to go too far.
BOLDUAN: Is it true that Michael Douglas and Diane Keaton have never been on the screen together?
REINER: Never been on, these two great Academy Award winners.
PEREIRA: We've been missing out.
REINER: Yes, and they've always wanted to work with each other. I've never worked with Diane, and I loved it. I mean, she works the same way as I do: very instinctive, improvisational.
BOLDUAN: Is that where the toupee came from?
REINER: Wait a second, you really -- you think that was a toupe?
BOLDUAN: I read about it.
BERMAN: It's character acting.
PEREIRA: As evidenced.
REINER: I thought it was undetectable.
BOLDUAN: You said I was more evolved. A lovely hair hat.
REINER: Yes, a cat died on the set, and we tried to honor it by putting -- burying it on my head.
BERMAN: Well, listen, it is interesting, though, because you did act in this film, as well, and you don't appear in a lot of your own films. Look, you were in "This is Spinal Tap," which I think is genius.
REINER: Thank you.
BERMAN: But how do you choose?
REINER: Well, you know, in this case I wanted Mark Shaiman, who's the guy who composes all my music and Paul Schaffer, who, you know, was the band leader for "Letterman," who actually played piano, because in this I'm a pianist. But they weren't available. So I have a very small budget. I have to find an actor who will work for scale, and I looked around and found myself.
BOLDUAN: No one else in the room but me.
PEREIRA: We talked about another scene-stealer is this young gal. This 9-year-old in this film is -- I fell in love with her, Sterling Jenkins. How did you find her?
REINER: Well, she just came in and read.
REINER: Yes, she was 9 years old.
BOLDUAN: That still happens? REINER: Yes. No, no. She had -- I found out later that she played
Brad Pitt's daughter in "World War Z," but I didn't know. She came in; she was, like, full blown. I've never seen a young actress be that complete an actress at that point. I mean, she had to cry on cue when she says good-bye to her father. She did three, four times. Every time, it was, like, astounding.
BERMAN: Are kids different now to direct than they were when you did, "Stand by Me," for instance?
REINER: No, no. Kids are kids, you know. I mean, some kids have more -- like this kid, like, had incredible craft already. Most kids are just, you know, raw. They have instincts, and they don't have any bad habits; but they don't have much craft.
BERMAN: My kids.
REINER: I don't know your kids. Do they want to act?
BOLDUAN: Rob, I've got to tell you, I was also reading about you that your father, you've still -- you've got good genes, by the way.
BOLDUAN: Great jeans on today. You're a very young, young, young, young, young old person.
BOLDUAN: What is next for you? Because you've got a whole lot left.
REINER: Yes, I know. And that's one of the things we try to focus in on, in "And So It Goes," is that in film, Diane Keaton plays a person who's becoming a singer at age 65.
BOLDUAN: Second or third act.
REINER: Which my mother did at age 65, and she lived 'til 94. So we can -- I mean, we are living longer, and we do, can have second and third careers. So...
BOLDUAN: Fourth and fifth.
REINER: Yes. What are you on?
PEREIRA: Ooh, I don't know. I've lost count.
Give me another -- can I point this out, we've got to go. July 21st marks the 25th anniversary.
REINER: Oh, I thought you were plugging the film.
PEREIRA: No, 25th -- the 25th anniversary of "When Harry Met Sally"?
REINER: Oh, yes.
PEREIRA: Holy cannoli.
REINER: Twenty-five years. "I'll have what she's having."
BERMAN: And this movie opens on?
PEREIRA: July 25th.
REINER: July 25th.
PEREIRA: It's called "And So It Goes." Please do yourself a favor: go see the film. You'll laugh. You might tear up. It's just so much fun. It's a delightful film.
BOLDUAN: You are so much fun. Thank you.
PEREIRA: We love when you come to visit. Come back soon.
REINER: Thank you.
BOLDUAN: Absotutely [SIC]. I'm not even using English words now.
REINER: Absotutely [SIC] is OK.
BOLDUAN: Coming -- you like it?
BOLDUAN: Rob wrote it.
Coming up on NEW DAY, one determined 2-year-old taking his first steps on YouTube. He's a sensation online, and we had the chance to meet him. He melted our hearts. It's "The Good Stuff," and it's coming up.
(BEGIN VIDEO CLIP)
KAYDEN KINCKLE, AMPUTEE: I got it.
UNIDENTIFIED FEMALE: You do?
KINCKLE: I got it. I got it.
(END VIDEO CLIP)
BOLDUAN: I got it. If you didn't see this amazing little fellow earlier in the show, we want you to meet Kayden Kinckle, the star of that video.
PEREIRA: In today's "Good Stuff." Kayden was born with a medical condition that forced doctors to amputate his right foot and his left leg. In this remarkable video, this determined little one takes his first steps with his prosthetics with the aid of a walker.
Earlier today, though, we had the pleasure of meeting Kayden and his mom, Nicky. Kayden showed us just how comfortable he's gotten using his new legs. Check it out. He was a little sleepy, just woke up.
BOLDUAN: A little grumpy.
PEREIRA: He was his same curious self, took off across the studio, heading straight for mommy-to-be Kate.
BOLDUAN: Sorry, I had to.
PEREIRA: You had to and, once again, reassuring his mom that he got it. Then he made a beeline for the anchor desk. He was coming at you, Berman.
BERMAN: He can have it (ph).
PEREIRA: His agility on his new legs, both impressing [SIC] and inspiring to all of us, Kayden. You are today's "Good Stuff." Thank you so much for sharing your story and those really special moments.
BOLDUAN: It was absolutely beautiful.
UNIDENTIFIED FEMALE: He went straight for you.
BOLDUAN: He really -- he was like -- it's fun today, but a lot of news to cover. Let's get you over to the NEWSROOM with Brianna Keilar in for Carol Costello.
BRIANNA KEILAR, CNN ANCHOR/CORRESPONDENT: Oh that video is so great. He's just so adorable. Guys, have a great day.
BOLDUAN: You, too.
KEILAR: "NEWSROOM" starts now.