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Quest Means Business

Vance Defends ICE Officer's Actions After Deadly Shooting; Deadly ICE Shooting Sparks Outrage, Protests in Minneapolis; U.S. Consultant to Lead Investor Business Trip to Venezuela; Law Enforcement Fire Pepper Balls at Minneapolis Protesters; Trump's Truth Social Posts Take Aim at Big Business; Concerns Grow in Greenland Over Trump Threats. Aired 4-5p ET

Aired January 08, 2026 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[16:00:13]

RICHARD QUEST, CNN INTERNATIONAL HOST, "QUEST MEANS BUSINESS": Closing bell ringing on Wall Street. Babcock & Wilcox ringing the closing bell. The Dow

has been up throughout the session, however, it doesn't tell the full story of the day on the market.

The Dow is up, but as you can see, the NASDAQ is lower as the rotation a bit out of -- oh dear! That was a very weak, very weak, feeble sort of

gavel to end trading on the day, but the day is over and indeed you see the S&P even at right at the end has gone just negative. So it is a bifurcated

day. Those are the markets and the events that we will chew over the hour.

In Minnesota, allegations the federal government is blocking the state counterparts from properly investigating yesterday's fatal shooting. U.S.

investors are already planning trips to Venezuela. The man leading the charge will be with us on our program tonight.

And someone made more than $400,000.00 betting on the capture of Nicolas Maduro. That's triggered calls for regulation of prediction markets.

We are live in New York, Thursday, January the 8th. I am Richard Quest. I mean business.

Good evening.

Tonight, on one side, the U.S. federal government, on the other, the officials in Minnesota, the state officials, both sides digging in after

the immigration officer shot the woman dead in Minneapolis yesterday.

Vice President J.D. Vance defended the officer involved in Wednesday's shooting. He told reporters at The White House the victim had threatened

the officer with her car.

(BEGIN VIDEO CLIP)

J.D. VANCE (R), VICE PRESIDENT OF THE UNITED STATES OF AMERICA: What I am certain of is that she violated the law. What I am certain of is that that

officer had every reason to think that he was under very serious threat for injury, or in fact, his life. What I am certain of is that she accelerated

in a way where she ran into the guy.

I don't know what was in her heart and what was in her head, but I know that she violated the law, and I know that that officer was acting in self-

defense.

(END VIDEO CLIP)

QUEST: That's the federal position. By the way, there has been no investigation so far for anyone to come to these conclusions. Minnesota

officials say they've now been blocked. The feds have blocked them from investigating.

The governor, Tim Walz, accused the feds of making up their minds even before the investigation has begun.

Tensions remain high in Minneapolis. The police clashed on Wednesday with protesters. They used pepper spray on some demonstrators near the city's

federal building. And more now, as we are getting details about the woman who was shot and killed.

Renee Nicole Good, a mother of three, a U.S. citizen, as well as the officer who shot her.

Ryan Young, is in Minneapolis.

Ryan, can you hear me? I hope it is because it is obviously noisy where you are. So I will battle on regardless.

But, Ryan, we know that this officer was not a rookie, not one of the newly recruited, but established --

RYAN YOUNG, CNN SENIOR NATIONAL CORRESPONDENT: Hold on one second. Look, Quest, these are some of the agents coming through. Look at some of these

folks chasing these cars with the agents in it. Every now and then this happens where you have people who are angry, they're upset, and then the

agents come through and then there is a surge.

We actually had that in the last hour as well. I am sorry to cut you off like that, but I wanted to show you what was going on as they came through.

In fact, in that car pool right there, there were agents who were using their video cameras to shoot the crowd, and I will step back this direction

so I can show you how this is being positioned.

This is a federal building. This is where there have been all located all day long. The protesters want to block these gates. So you see the gates

here? They want to block the gates to stop the agents from being able to get in here. And you can see this flanks of officers. They've been doing

this all day long.

This is actually a small contingent. At one point, we had over a couple hundred Border Patrol agents flooding the street. There were clashes, very

physical, people detained, pepper ball used in this to disperse the crowd. In fact, we will show you some video that we just shot in the last hour

where we saw them take two people into custody.

They used their bodies to just amass on top of them, tackle them to the ground, put handcuffs on these men that they were arresting. We are still

not sure why they did that.

This has repeated itself over and over again. Some very physical actions, and people are asking all sorts of questions about why this is happening

here. People thought they could stop these agents from leaving today and going out into the neighborhoods.

They didn't stop them. And at one point, Greg Bovino himself came out and marched along with the officers, talking to them.

[16:05:05]

The original protesters who were here left, and they left a small group behind. And these folks have been kind of pouring in all day long --

Richard.

QUEST: So how would you describe -- I mean, obviously the mood is very loud and restive, but does it feel like it is getting out of control?

YOUNG: Great question. And so the original protest group that came here, very organized, they had meetups. They had e-mail chains and those folks

were here and left. There is another group that came in and they are a little more rambunctious. In fact, people have been watching this on news

media all day. They've been flowing in to sort of join the groups here.

We've actually seen counter-protesters here as well. But one thing they kept saying over and over, they didn't want this to turn into a George

Floyd situation where people from out of town -- oh, Richard, look, it is happening right now. They are trying to stop these cars from coming in and

they're firing their pepper balls as we speak.

So, as I told you, sometimes this happens when these agents try to come back in, these protesters try to block them. And then when they try to

physically block them, these officers come right in and try to block this off. So you can see them waving their flags, you can see them waving things

at, but right away these officers are using their pepper ball guns to spray in the area near the crowd. There's pushing and shoving right here. You can

see this happen. People use their physical body and this gets real violent pretty quick.

You can see this officer getting his agent ready right now. He is shaking the canister. And what they will do is they will hose part of the crowd.

This is getting ready to happen right now. You can see his finger on the trigger. And once he decides to spray it, it will be in their face. So you

can see that right there.

That irritant, it sticks with you for a very long time, as you know. But you saw how this happens. There was nothing going on and then there is a

flare up and these people become angry and upset. And there is a worry that more people will come into this area throughout the night, because there

are people from out of town now who are showing up and that's what some people are concerned about -- Richard.

QUEST: Ryan, as we watch these pictures, we are no closer in many ways to getting any definitive understanding of what happened yesterday. The feds

refusing to cooperate or let the state with the -- this is not getting any easier, is it?

YOUNG: Oh, here we go. They're firing the pepper balls. This has happened. But look, I will say this as we do this and they're firing this. I don't

think we are ever going to get closer to the answers that these people want. Now that the investigation is going to be just in the FBI hands,

people are going to be upset, and they're not going to think that this is going to be an independent investigation.

It is kind of sad for everyone who is involved, because there is a lot of people who want to know what happened that day. They want to know if

something can change, and I don't know if we will ever get those answers, and it is really a sad tale on what is going on right now.

QUEST: Ryan, I will let you get back to your newsgathering duties. Thank you, sir.

I am grateful for you joining us. Thank you.

So the core point that we've been saying, the state officials now say they've been excluded from the investigation into what happened.

Minnesota's Attorney General has told us he is working to get that reversed. He says it is a poor decision. And the state's governor, Tim Walz

says it may now be very difficult to get a fair outcome in the investigation.

(BEGIN VIDEO CLIP)

GOV. TIM WALZ (D-MN): People in positions of power have already passed judgment from the President to the Vice President to Kristi Noem have stood

and told you things that are verifiably false, verifiably inaccurate.

They have determined the character of a 37-year-old mom that they didn't even know -- don't know.

(END VIDEO CLIP)

QUEST: Joey is with me. Joey Jackson here, I want to take this at a slow pace to just clarify a couple of things as we go through the legal aspects

here, because the investigation is one thing, but the ability of the state prosecutors to prosecute the officer, that's another matter and how would

that come about?

JOEY JACKSON, CNN LEGAL ANALYST: Yes, Richard, good to be with you. I do not buy the fact at all that the state has to abdicate its role here

completely, because that's what the FBI wants. It is just not how it works.

The fact is, is that Minnesota has jurisdiction over it. Now, clearly, there would be an impediment to an investigation when you have the Federal

Bureau of Investigation that's collecting data and not sharing it.

[16:10:00]

That being said, the state has just as many tools with respect to going out and interviewing witnesses with regard to getting any surveillance, with

respect to gathering any cell phone data and anything else that they might need to make a determination. We've all seen the video.

And so, yes, it would be nice if there was a collective investigation involving the Federal Bureau of Investigations, our federal entity here,

which has vast resources and does an excellent job and the state, which is in Minnesota, the Bureau of Criminal Apprehension, that's not going to

happen.

And as we heard in that clip, the governor has noted that --

QUEST: Okay.

JACKSON: One second, Rich, the governor has noted that you have these high level officials, the President, the Vice President, and, of course, the

Secretary indicating that there is nothing to see here. So how can we get a fair investigation from the federal government when the officials in the

federal government are saying, hey, there is nothing to see, close it out.

And so that's why it is even more important to have the state involved, and for them to just say were withdrawing because they are not sharing our ball

with us is just not how the process works, should work, or will continue to work. I think they should be involved. They need to get back into the game.

QUEST: All right, Joey. Okay, so now, I assume that the state does, and I am pretty certain that the state's prosecutorial authorities will look at

all of this. Now, let's say they decide to prosecute the officer for some offense. Anything from murder downwards to the lowest levels of

manslaughter, whatever it might be.

The officer is going to claim he is immune under the Supremacy Clause and thereby try to get the whole matter shoved into the federal system, at

least to determine the force question. That's going to be difficult.

JACKSON: So it may -- there will be litigation here, aplenty. So let's just make that clear. But let's break down everything you said very briefly.

Yes, there is a role for the federal government here inasmuch as these are federal officials. Yes, they will claim that they have immunity because

they were acting in the scope of their capacity as ICE agents and that they were engaged in activities that they were federally allowed to engage in,

and they were acting in a necessary and proper way, and that they were authorized by law. They will claim all of that.

Now, let's take the other end, from a state perspective, you're the state, you have jurisdiction. There are certain rules to follow. Let's make very

clear, Richard, very clear. Number one, there is no absolute immunity for in the event an investigation determines that you acted in a way that was

unlawful, in a way that you acted, that was improper, in a way that you acted that wasn't in accordance to the rules, regulations and state laws.

There is no immunity for that.

QUEST: Right.

JACKSON: And there is no absolute immunity, because if there were absolute immunity, federal officials could just shoot anyone and say, hey, I did it.

Too bad, so sad. Not going to happen.

QUEST: Right. But Joey, at some point that immunity question is going to be considered by a court, a federal judge, to decide whether or not the

immunity and it may well go up through the appeals system as well. But the core question of that immunity is going to end up being -- I mean, we don't

know for a fact, but it seems highly likely one side will prosecute, the other side will try and claim the immunity.

JACKSON: So that is very fair. And I think what is going to happen is what you noted is that the federal government clearly doesn't want a prosecution

here.

QUEST: Right.

JACKSON: I think there is a lot on the line. I think they want to embolden ICE agents to go out throughout the country to do whatever they want to do

with impunity, and the event that they were held accountable, it would really impede ICE agents from being as forceful and aggressive, because now

we know where accountable is. The federal government doesn't want anything.

So to your point, Richard, which is an excellent one, the state does, because any state throughout the country and this happens to be Minnesota

has to protect their citizens. There will be, without question, in my view, a judicial decision by a federal judge as to whether there is immunity and

that is going to turn on very briefly, a very few critical points.

Number one, were you acting in accordance with federal law or outside of federal law? Now, the bottom line is that there is DOJ guidance, not

passing judgment, but that says, this DOJ guidance, not my guidance that says you don't shoot a moving vehicle, okay? You don't do it. You don't

shoot a vehicle that's trying to escape, and for a variety of reasons, number one, it could lose control. It can hit people on the sidewalk, a

number of things. So did you violate that federal law and directive.

Number two, there is constitutional law. That's our Constitution, Supreme Court, 40 years' worth of saying that you're not supposed to do it. Fleeing

felons, you're not justified in doing it. Now, there are exceptions.

So the criteria in which a judge will evaluate this is did you violate federal law? Number one, were you acting in the scope of your employment

with respect to doing ICE activities? Number two. Were the activities that you engaged in necessary and proper? Number three. Tactically, the

regulations say you're supposed to step out of the way. That's what they say, again, not me. This is what the rules say. Step out of the way of a

car or a truck or anything else. Did you do that?

And so a federal judge is going to have to use specific criteria. Not I am a Republican, you're a Democrat, but legal rules and authorities in this

country to arrive at a decision.

[16:15:11]

And there is no question, final thing, Richard, that to your point, a judge will rule. It is going to go to the next court, right, which is the

appellate court, and then it may end up in the Supreme Court as to whether or not if there is a prosecution here, can it withstand the scrutiny of our

judicial system? I think you're going to see the state emboldened to prosecute. I think you're going to see the feds trying to throw it out.

This is heading for a clash, to be clear into our system of justice. And very soon.

QUEST: And I am grateful, sir, because you've answered all the questions and I realize -- you know, I realize that we have speed dated the process

that's going to take weeks and months to get there, but I am grateful that tonight, we have at least shown this is what is likely to happen, rather

than just continue going over.

Thank you, Joey, I am grateful. Thank you.

JACKSON: Anytime. Thanks, Richard.

QUEST: Coming up, The White House says business executives are eager to invest in Venezuela. One of the leaders of the delegation that is going to

take down there, explore the opportunities, the bonanza, the opportunity. Who knows? Anyway, it will be after the break. QUEST MEANS BUSINESS.

(COMMERCIAL BREAK)

QUEST: President Trump says U.S. control over Venezuela could last for years. He was talking to "The New York Times" when he was asked if U.S.

oversight would last three months, six months, a year or longer. The President replied, "I would say much longer." So U.S. firms are now looking

to capitalize on potential investment opportunities.

My next guest is organizing a trip to the country with possible investors, and that trip will be, hopefully, March. He is Charles Myers. Mr. Myers

believes there is a massive opportunity for more sectors than just oil and gas. $500 billion worth at least over the next 10 years. Charles Myers is

the founder and chairman of the consulting firm, Signum Global Advisors, and there he is now joining us from Aspen, Colorado.

Mr. Myers, I am grateful that you're joining us. As you get ready to go to Venezuela later in the year or early in the spring, what is your major

concern? What will you be looking -- what reassurances will you be looking for?

CHARLES MYERS, FOUNDER AND CHAIRMAN, SIGNUM GLOBAL ADVISORS: Well, I think just first to say thanks for having me on. We have huge interest in this

trip. We've got about 20 spots for clients. We have demand for about 50 seats. There is huge foreign investor interest in Venezuela given what has

just happened on Saturday with the removal of Maduro.

[16:20:10]

I think what investors need to see, whether its foreign direct or portfolio investors is first, is the government politically stable? Secondly, what is

the domestic security situation like? Is it safe to visit? And then third, some of the laws need to be rewritten, including the hydrocarbons law.

There needs to be a new framework -- legal framework in Venezuela for foreign investment. So it is still very early days. This is an early fact-

finding mission and a chance to get down there, meet the new government -- meet the government, the new president as well and try to identify

reconstruction opportunities early. But I think those are what investors need to see first.

QUEST: When you hear the President, as he did this morning, say to "The New York Times" that the United States will be there a lot longer. There is

clearly going to be no rush to leave, in a sense, from a commercial point of view, is that a positive for you?

MYERS: Yes, I think that, you know, given that the United States just militarily removed the head of state of Venezuela and has for the time

being allowed the installment of the vice president, as president, we are backing that government. The United States now is 2,000 percent invested in

the future of Venezuela, including the economic success. Central to that success is foreign investment.

But I agree with the President. I think the United States will be involved in controlling Venezuela for many years.

QUEST: Okay. If that is the case, this is a really weird situation because, I mean, and don't get me wrong, I am aware that previous regime change over

Iraq et cetera et cetera have ended very badly. But here, we have almost -- you have the previous regime in place minus the head of the snake, so to

speak. You have the U.S. ability to impose policies and economic forecast, if you will, and I am not sure where that leaves you and your investors,

because you could be dealing with a socialist/communist regime, who are taking at least direction from Washington. Very odd.

MYERS: Yes, it is unprecedented in modern history. And, you know, I think that as with many things with the Trump administration, we are in sort of

new territory, including in foreign policy and in this situation with Venezuela.

But just to say that the reason the United States is continuing and will keep the massive military presence off the coast of Venezuela is to ensure

that the new leadership, because it is not regime change, it is leadership change, but that the new government or new leadership continues to work

with, engage with, and do what the United States would like it to do.

I know that's not a very popular thing to say, but it is just factual and I think that the President has been very clear that from here forward, if the

government, the new president doesn't do what the U.S. wants, I think there will be further change at the top.

QUEST: Do you have any queasy feeling that what is taking place looks like old fashioned imperialism? It arguably could be regarded as old fashioned

plunder. And I know that's -- you know, I know that is a tricky area to discuss. But you are going there to invest and the critics will say the

U.S. is basically taking over another country.

MYERS: Yes. Look, I think, you know, U.S. foreign policy is fraught with all sorts of issues around the world. And I think on this one, the case

that The White House is making is that the Chavez government nationalized U.S. oil interests and U.S. assets. We should, at the very minimum, be you

know compensated for or reimbursed for those assets.

You know, at our firm, we don't take a political or moral position on whether what the United States did was right or wrong. Our job is to help

our clients find investment opportunities. So I will leave it at that, but we are in new territory.

QUEST: Right. Well --

MYERS: I do think it will succeed. And lastly, I would just say, I can't imagine any scenario in which Venezuela would be better off under Maduro.

So I think that if you look at the reaction of the Venezuelan people for the past four or five days, I think that speaks volumes.

QUEST: Last question and I want to talk about those opportunities. Forget oil and gas, forget hydrocarbons. I want to talk about the other areas that

you think offer great potential in the future.

MYERS: Yes. Absolutely. Well, you know, first and foremost, the easiest money has been made because the defaulted sovereign bonds and the PDVSA

bonds have all more than doubled in the last three months. But more broadly into the -- looking at other sectors outside of oil and gas, there are huge

opportunities in infrastructure, ports, hospitals, roads, schools, housing all needs to be upgraded and/or built.

[16:25:13]

There is very big opportunities in mining, in steel. There are also opportunities in the auto sector. I think, ultimately in tourism, so I

would say -- and even the Caracas Stock Exchange, you know, people forget, but Venezuela, the Caracas Stock Exchange used to be one of the most liquid

in Latin America pre Chavez.

This is a country coming out of 25 years of dictatorship. There are huge opportunities across multiple sectors. And I think U.S. companies will be

given preference or priority into and first look at those opportunities.

QUEST: Charles, I am very grateful to you, sir. Let's talk more as this process continues, if we may. We are very keen to follow and at least,

watch and see exactly how this -- as we both agree this extraordinary time and therefore it is worth talking more about it. Thank you for giving me

time tonight, sir. Very grateful.

MYERS: Yes. Thank you.

QUEST: As we continue, Iran is facing a nationwide internet blackout amid escalating protests across the country. Video from the capital shows large

crowds marching and chanting slogans against the regime. People also gathered in other major cities. Social media is showing fires inside the

regional government complex in northern parts of the country.

Demonstrations over economic hardships and the falling value of the currency. Jomana Karadsheh is following all this from London.

Two questions, let's start with the tricky one first.

Does this feel different to what you have seen before?

JOMANA KARADSHEH, CNN INTERNATIONAL CORRESPONDENT: You know, Richard, it seems like Iran is in this constant cycle of protests. Every few years,

something sparks these protests that end up turning into anti-regime demonstrations. This time, it was the state of the economy, and I don't

know if it is different yet. It is very hard to judge, but Iran is a different country to what it was when these protests were taking place

three years ago, after the death of Mahsa Jina Amini in the custody of the Morality Police, remember? And that turned into the Woman Life Freedom

Protest.

This is a very different Iran. This is an Iran that has been weakened after going to war with Israel, after strikes by the U.S., the state of its

economy, and at the same time losing its allies in the region, whether its Hezbollah, whether it is the Assad regime.

QUEST: Right.

KARADSHEH: And you also have the U.S.' actions recently.

President Trump, also threatening the Iranians that if they kill protesters, the U.S. will intervene. I mean, this is the third time we've

heard that from the President in the past few days.

QUEST: That's what I want to ask you about. First of all, it is a threat from the U.S. President that might be tricky to actually follow through. I

suppose you could always send some missiles across and blow up some areas without doing, you know, without sort of putting your own people at harms

risk, but that's a big difference.

It seems like the U.S. President is agitating to get involved.

KARADSHEH: Look, what the President is doing with these messages, with these signals that he has put out with these statements, is he has

certainly emboldened a lot of Iranians to take to the streets. I've been speaking with activists outside the country, as you know, there is a

communications blackout right now, and it is getting very difficult to get in touch with people inside Iran. Of course, it is risky for them to speak

with us as well.

But speaking with activists throughout the day today, you know, Day 12 of these protests and they're seeing these protests growing. What they tell

you, Richard, is the regime is in a very tricky position right now. If they do nothing about these protests, they don't intensify the crackdown, these

protests are only going to grow as we are seeing tonight from these images, stunning images coming out of the capital, Tehran.

And if they do crackdown, what is the U.S. President going to do? Do they really want to test his willingness to follow through on these threats?

That's the big question right now.

QUEST: I am grateful. Thank you. Keep watching those protests and please come back when there is more to discuss and report. I am grateful. Thank

you.

In a moment, back in Minnesota, new details from the deadly ICE shooting are emerging. It is QUEST MEANS BUSINESS and difficult days, but we are

always glad to have you with us.

(COMMERCIAL BREAK)

[16:32:32]

QUEST: It's QUEST MEANS BUSINESS. We have a lot more. We'll be talking to a Democratic lawmaker looking to rein in betting platforms like Polymarket

after suspicious activity. And did you know it's a -- what I thought was insider dealing, apparently in some cases it's not illegal. I'll tell you

about it.

The investor guru, Ken Fisher, going to be a difficult year. We'll need Ken to help us, but we'll only get to those after the headlines because this is

CNN and here, the news always comes first.

State officials in Minnesota say the FBI has blocked them from being part of the investigation into the death of the woman shot by an immigration

agent. A Homeland Security official is telling us, the officer that shot Renee Nicole Good has 10 years of experience. The 37-year-old victim was a

mother of three.

New demonstrations are taking place in Iran's capital tonight with the growing anger over the economy and the crackdown by security forces. The

authorities have cut the internet access and telephone lines. A human rights group says at least 45 people have been killed since the protests

began two weeks ago.

Huge power outages are hitting Ukraine after Russian drone strikes. Nearly half a million households have been left in the dark in two southeastern

regions, according to energy officials. President Zelenskyy says the near- total blackouts are aimed at breaking his country. He says Russia is stepping up winter attacks instead of working towards a ceasefire.

News to us in, just in, Minnesota Governor Tim Walz has authorized the state's National Guard to help support local law enforcement. It comes as

we're learning more about the immigration officer involved in Wednesday's deadly shooting at Minnesota. A senior Homeland Security official has told

us the officer had worked more than a decade for ICE. And we're told the officer was dragged by a vehicle last summer while trying to make an

arrest.

President -- Vice President Vance said the death of 37-year-old Renee Good was a tragedy of her own making.

(BEGIN VIDEO CLIP)

J.D. VANCE, VICE PRESIDENT OF THE UNITED STATES: You have a woman who aimed her car at a law enforcement officer and pressed on the accelerator. Nobody

debates that. I can believe that her death is a tragedy, while also recognizing that it's a tragedy of her own making and a tragedy of the far-

left who has marshaled an entire movement, a lunatic fringe against our law enforcement officers.

(END VIDEO CLIP)

[16:35:07]

QUEST: Minnesota has been through some things like this before. Wednesday's shooting took place only a mile from where George Floyd was killed by a

police officer in 2020. On that occasion, his death sparked national and international outrage. Last month, President Trump denounced Minnesota's

sizable Somali community and senior officials in the administration have accused them of welfare fraud. They have been followed by an immigration

crackdown.

Laura Coates is in Minneapolis.

You're not just in Minneapolis, Laura, you grew up in Saint Paul's, the other part of the Twin Cities. You went to law school there. You are now

well and truly the best person to give me an assessment of how things are. Go ahead.

LAURA COATES, CNN ANCHOR AND CHIEF LEGAL ANALYST: Tense is the way to describe this agitated state of affairs. I'm telling you, people here, not

only have you outlined just some of the most recent tragedies that have befallen Minneapolis, but the national attention that has been given to

them, the punishment about the child care, about the fraud. All things, the statements made by the president of United States. That is all culminated

in many of the frustrations we're seeing here to yesterday's death.

There is huge anger, a huge amount of anger about the competing narratives, one issued by Kristi Noem, secretary of Homeland Security, who says that

the officer was totally justified in an act of self-defense. And then you've got the other story that the people in the community certainly

believe, which is that it was an unjustified killing.

We're seeing them coming -- OK. Hold on. We're hearing -- they're coming towards us. Tear gas has been deployed again. Tear gas again in the area.

This is the second time in less than 30 minutes. We've had tear gas deployed once again. That's happening right now. You've got the agent --

excuse me.

QUEST: Whatever you need to, Laura, throw back. If you're having difficulty --

COATES: They're coming towards us -- no, they're racing. They're going, they're going, they're going. Follow me!

QUEST: You stay with Laura while she's --

COATES: They're running after somebody in particular. They're running -- they're running after somebody. Let's go. They're already in the parking

lot. They're running toward -- it's got someone on the ground. An ICE agent on the ground. Guys, I'm back up, I'm back up. Let's go. I've got people.

I've got someone on the ground. Three agents surrounding him. Let's go. There's a man on the ground. We're backing up right now.

You see, there's someone on the ground right now. They took off running. I'm not sure why all of a sudden -- they have someone on the ground right

now. This is somebody who actually just passed by the crowd in his car and gave -- I think it's the car that I saw earlier who's driving by.

QUEST: Not sure if you can hear me, Laura. Are you OK? Are you OK?

COATES: I can -- I'm fine. I'm safe. I'm safe. They're running right now. I have my camera. Can you see them? There's somebody who's been brought to

the ground. Wait. I have agents coming behind us right now. It has escalated. Someone is on the ground. They are being arrested right now.

He's on the ground. I'm coming back.

QUEST: It's not clear. It's not clear what he did. Is it?

COATES: It's not clear what he's done. They took off running all of a sudden. He is on the ground right now. We can't --

QUEST: All right.

COATES: Ryan can't get close. Here you go.

QUEST: It's a very tense environment. The atmosphere is incredibly tense. I can feel it through the pictures.

COATES: It's very tense right now. People are wondering what's going on. They're watching right now.

QUEST: Right.

COATES: The arrest is being effectuated right now. Not sure what's happening. You can see, however, the coordinated effort to get the guy on

the ground as well and Ice agents standing by waiting for more instruction -- Richard.

QUEST: Thank you, Laura. I'll let you -- well, we'll just stay with you with these pictures while he's being taken away.

COATES: Here we go.

QUEST: Yes.

COATES: I'm hearing someone in the crowd mention a Gatorade bottle. I hear more whistles. Whistles are an indication of ICE's presence. People are

demanding that they take their masks off. We're falling back where they are right now. He appears to be taken into custody. Notice the badges and the -

- ICE, HSI as well. He's being taken right now. We're being told to back up. You can still feel the presence of tear gas and what it does to your

lungs.

QUEST: I will let you recover yourself, Laura, and sort yourselves out. Thank you. You brought us truly the moment of what's taking place there.

Thank you for joining us, Laura Coates, who is, as you can see, she's fine. Somebody has been arrested.

[16:40:01]

And the incident, we don't know what happened there or why, but it's what I think you've now got is an extremely good idea of the tense nature and the

way in which this can all get out of hand and of course become extremely dangerous.

You know, yesterday was an example of that at the most extreme levels. But today you also just get a feeling of how it only takes one bit of activity.

And suddenly the situation becomes deadly and changes.

We'll take a break and be back with you in just a moment. This is, of course, CNN.

(COMMERCIAL BREAK)

QUEST: Shares of defense companies rallied after President Trump said he plans to increase military spending by 50 percent. The stocks had fallen on

Wednesday after the president criticized their production. He then threatened to block companies from buying back shares or paying dividends.

The president also vowed to stop private equity from buying single family homes, a subject he'll bring up, he says, at Davos, where we'll all be week

after next.

Donald Trump has a load of pro-business policies. And now, of course, the questions are raised about what he's going to do in the future.

Ken Fisher is the founder and executive chair of Fisher Investments. He joins me now.

Ken, it is good to see you in California. Always good to see you there. Now, this is interesting because it is the way in which the markets have to

make sense of this shifting economic policy or corporate policy in terms of companies' dividends and how the government may restrict them.

KEN FISHER, FOUNDER AND EXECUTIVE CHAIR, FISHER INVESTMENTS: So, said simply, President Trump, unlike any president we've had before, and he

definitely an original, says so many things so often that no other president would have ever said that capital markets have learned to largely

discount that. And the fact of the matter is, if you think of everything he says, you can't remember a lot of what it was that was jarring just a

couple of weeks ago because there's all the new ones since. And these will be no different.

QUEST: Right. But at some point we have to try to distill if there is a policy coming. I'll give you an example of tariffs, for example. Yes, there

was a lot of talk before, but eventually something did happen and tariffs did go up. So if we're talking about putting pressure on dividends or

executive pay or buybacks or whatever, I agree. I take your point. It's well founded. It may be some time, but you can't ignore it either.

[16:45:10]

FISHER: Well, you can and you can't. Let's take your tariffs example. And you know, I was on your show numbers of times during 2025 talking about

tariffs.

QUEST: Yes.

FISHER: The fact of the matter is markets got used to that really quickly. And yet today as we speak, were less than 24 hours from when the Supreme

Court of the United States should be making its ruling on tariffs. That can have big effects. Probably will. Betting markets and capital markets think

that they'll reject the tariffs. President Trump has said there's abundant other ways he can impose the tariffs. What are they? Who knows?

I'm going to tell you the only thing that I know, and I've said this many times before in public, the only thing that I know that goes on in

President Trump's head is that Big Macs go into it and Whoppers come out of it.

QUEST: Let's talk about -- I must remember that one with suitable attribution to yourself. And on this question of the markets, are we seeing

a rotation? And are we seeing a little bit of lack of love of the Mag Seven? Is this shifting at all? What's the underlying firmament?

FISHER: Let me be real clear about that because almost everyone seems to get this wrong. You just take 2025, you cite the Mag Seven, and a lot of

people have said it's only the Mag Seven that have made the market go up. Let me make the following points. Five of the seven Mag Seven

underperformed the S&P 500 last year, and the S&P 500 underperformed the world.

Said another way, of the 47 countries in the MSCI All World Index, 35 of them hit new all-time highs and most all the rest had returns over 20

percent in local currency. The fact is, few of them have technology much at all. That tells you it was a value led world, not a growth led world. Not

particularly a tech world, and certainly not a Mag Seven world.

QUEST: So in this new environment where you saw that tweet, you know, our hemisphere, the more muscular policy, whether it's Greenland, Venezuela,

doesn't matter what. Do you -- does this new muscular policy or implementation and execution, is this good for the U.S. market and less

good for global markets? Because the thinking, as you rightly say, has been perhaps shift portfolio balance outside the U.S.

FISHER: So I think that's exactly backwards. These policies mostly, now not all, but mostly are not good for the U.S. Anytime you try to mess with the

free market, you tend to create mostly suboptimal results. The fact is, as per this data that I cited a moment ago, last year was better outside of

America than in versus the prior few years of '23, '24 and '22 better in America than outside of America.

This is a world where the world's doing business around America, and sometimes in America, but the rest of the world is what's leading the

capital markets, not the United States.

QUEST: And do you expect that to be the general trend for next year? Or sorry, for this year now were in '26.

FISHER: It is this year now. And oh, by the way, yes, I do. I think the trend that started last year with the United States not leading, not doing

badly, but not leading, and the non-U.S. world strong, strength within the Eurozone, countries that have no tech at all, like Italy and Spain, up

hugely, Germany doing much better than America. A world where people don't expect much, they'll slight outperformance is a huge excess of

expectations. All of that should continue this year. Longer than that, I don't know.

QUEST: OK. But then, is this idea of a massive correction in U.S. equities, is that now old hat, do you think or is there still a worry about that from

what you're hearing?

FISHER: So remember, we had almost a bear market size correction in the early spring of 2025 associated with so-called liberation day.

QUEST: Sure.

FISHER: And that came fast, went fast. The fact of the matter is, a correction like that can come at any time, for any reason or no reason at

all, just tied to fear. It tends not to, however, have a changing of the guard as to bull market, bear market. The fears, for example, of an AI

bubble.

[16:50:02]

I'm just going to tell you, because I've studied bubbles before, I predicted the internet bubble long, long time ago. The fact of the matter

is, when you have a real bubble, most people don't think it's a bubble and you don't hear the ubiquitous fears, the fears of -- in and of themselves

are assigned to not be so fearful of it. We're clearly moving into a period where we've moved.

John Templeton famously said, bull markets are born on skepticism, pessimism, grow on skepticism, mature on optimism and die on euphoria.

We've clearly moved into fairly strong optimism. But this year we may get the beginning, for example, of mega IPOs led by SpaceX, but also ones like

Anthropic or Stripe or Databricks or Kraken, more. I don't really know. But if we get a big effect there, that'll be the sign we are moving into

euphoria and we are coming toward the end of the bull market. And that's where the risk would come in.

QUEST: I'm so grateful. Gosh, excellent to have you with us tonight. Well, it's always good to have you with us. But particularly in these difficult

days. Thank you, sir. Enjoy. Thank you very much.

FISHER: Thanks, Richard. You're the best.

QUEST: Thank you.

Now, as we continue tonight on QUEST MEANS BUSINESS, on the ground in Greenland, reaction to the idea that the United States says we must have

Greenland come what may.

(COMMERCIAL BREAK)

QUEST: Vice President Vance says Europe should take Greenland security seriously, or else the United States will act. Mr. Vance didn't clarify

what that action might be saying that was up to the president.

CNN's Nic Robertson in Greenland's capital reports.

(BEGIN VIDEOTAPE)

NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: Everyone here in Greenland is worried about President Trump's threats for national security

reasons to take control of Greenland. They're worried that he could do it by military force. The vast majority of people here, the last polling, only

6 percent said they wanted the United States to take control. The vast majority of people here do want independence, but eventually not

necessarily right now.

I'm just speaking to one person after we arrived here, he said to me, President Trump thinks he's a big man, but we don't see him that way. We

think of him as a small person. They like their life here, he tells me. They're worried that it's going to change irreversibly if the United States

takes control.

[16:55:01]

Danish politicians are worried. Greenland politicians are worried. We know that the foreign minister from Greenland is expecting to meet, along with

the foreign minister of Denmark, expecting to meet with Secretary of State Marco Rubio next week. The Danish foreign minister asked for that meeting.

He said it's necessary because we need to get nuance into the conversation.

They feel that the United States doesn't understand what Denmark offers, what Greenland has on tap for them already in terms of resources and

potential troop deployments. The foreign minister of Denmark also said that we need to bring the rhetoric down, tone it down. But the Danish prime

minister has used even stronger language and said, look, President Trump takes this area by force, Greenland, then that's the end of NATO and the

European Union is standing lockstep behind Denmark and Greenland right now.

(END VIDEOTAPE)

QUEST: Nic Robertson reporting.

You and I will be together in a second or three for a "Profitable Moment."

(COMMERCIAL BREAK)

QUEST: Tonight's "Profitable Moment." It's very tempting to get stuck into the threat and accusation and counter-accusation in between Minnesota state

and the feds over the shooting. But let me give you an idea as we heard tonight from Joey Jackson of what's actually going to happen. The way on

the legal front it's likely to follow. Well, the state is probably at some point going to try and bring some form of proceedings against -- criminal

proceedings against the officer involved.

He will claim that he was acting within the scope of his duty, and he's immune under the Supremacy Clause. A federal judge will then have to decide

whether he was immune. In other words, did the amount of force that he used, was that reasonable? Only then, on a variety of other factors, will

it be determined if the officer can be prosecuted in state court.

Why do I tell you all of this? Because it's going to be very easy over the next few weeks and months to get sucked into the political shouting and the

threats and the violence and the aggressiveness. But at the end of the day, this legal case is really straightforward. There's nothing difficult about

it. And the way the law will proceed is with great precedent. It's all been done before. He did this. Was it too much? Did it make him immune? Does his

immunity stand?

The judge will decide and everything flows from that. And that's what I urge you to look at as the whole proceedings continue over the weeks and

months ahead. Keep your eye on the legal proceedings because that's going to tell you. It won't tell you the politics of who's going to win in the

next election, but it will tell you the rights and wrongs of what happened in Minnesota.

And that's QUEST MEANS BUSINESS for tonight. I'm Richard Quest in New York. Whatever you're up to in the hours ahead -- well, I'll have another one. I

hope it's profitable. Tomorrow we'll be together again.

END