Live from the NASAC market site in the heart of New York City's Times Square, this is

fast money. Here's what's on top tonight. Credit crunch. Heart companies from Capital One to

Amex dropping today on new calls for a fee cap. The impact it could have on the space and how likely

it is for the policy to pass. And the blowback to the indictment of Jerome Powell, how Congress

is reacting and what it means for the independence of the Fed. Plus, what is behind Baba's big bounce? A couple retail names get routed, and we start the reveal of the trader's 2026 acronyms. Can Guy outperform his tube? And what can replace Dan's Gen A.I. We'll find out later on this hour. I'm Melissa Lee. Come to you live from studio, Biazac on the desk tonight. Karen Feinerman, Dan Nathan, Guy Adami, and Julie Beal. We start off with the credit card companies getting scorched on Wall Street, synchrony financial, Capital One, American Express, Visa, and MasterCard, all dropping after President Trump called for a rate cap on interest rates.

The one year, the, excuse me, the one year 10% max would go into effect on January 20th.

Big Banks also getting caught up in the weakness.

But while Trump said any consumer credit company failing to cap rates would be, quote,

in violation of the law, Congress would actually have to approve a move to limit any

rates.

So we'll a proposal like this turn into policy and how will this play out for consumers

and the stocks.

I would think that you see what he, the direction he wants to go to, and companies might

be inclined to say, you know what, we're going to conceive something

in order to move towards that direction without having to get to 10%. Fair. And I think there's some

middle ground. I mean, 10% is probably a little draconian, but yeah, there is a middle ground. But

let's try to play it through the lens of the stock market. You know, Capital One sold off today,

it makes sense. It's not a valuation concern here, but I think 60 to 65 percent of their business is tied to exactly that. Where is this thing going to settle? Well, first of all, the unintended consequences, I believe, will be, okay, we'll ratchet back the rate, but then credit lending probably gets ratcheted down to commensurate with that. So I don't

think it's going to do what it's intended to do. But I also think this is going to be somewhat

short-lived. I think you buy the sell-off in these names just on valuation. The fact that I

understand that earnings are backward-looking, but they report on the 22nd, which is fast approaching,

and the quarter is going to be pretty good, I think. Yeah. Yeah. I agree with you that it seems somewhat overdone. It's a little bit like mini liberation day for these names, but I think that the unintended consequences are great. When you think about, all right, if we got a cap of 10 and we know we've had this sort of credit loss, where does that credit loss come from? That person's not going to be

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