Skip to main content

tv   MONEY With Melissa Francis  FOX Business  October 10, 2012 12:00am-1:00am EDT

12:00 am
that could change but four weeks out the dow parsing king. prison withbama it is not a issues there. "money with melissa francis" up next. don't miss david tonight. >>'m melissa francis and here's what's "money" tonight. germans chancellor merkel nds in greece in wild demonstrations. the imf sa our fiscal cliff is adding to this economic mess. we'll sort through all the rubble. plus it is dirty, filthy gas to the rescue. california will pollute the environment to brg down crippling gas prices. no bicycles and car pools for them. we'll break it all down. how far would you go to earn a b buck? not even a host passing out on air can stop qvc from
12:01 am
making a sale. we've t the video and the details. even when they say it's not, it is always about money melissa: first let's look at the today's market headlines a grim imf forecast for the global economy sent stocks sliding down 110 points. nasdaq was the day's biggest loser posting its largest loss since junee 25th. earnings season starts off on a good foot. alcoa beat estates o to and bottom line. shares are getting a nice pop after-hours. government is filing a civiluit ainst wells fargo. they are accused of reckless behavior issuing federally backed loans. shares of wells fargo fell nearly 2%. all right, our top story
12:02 am
today, german chancellor gela merkel arrived in greece today and was met with massive protests some greeks even dressed as nazis to mock the german leader that is so nice. what a great welcome. why are the greeks protesting one of the few people who might actually be able to help them escape a economic meltdown? joining me for more on is story, univeity of chicago proper professor charles lipscomb and former director of the congressional budget office, douglas holtz-eakin. thanks to you both for joining us. doug, what do you think of those pictures? >> i think ts is a reminder that geeks have not done the hard reforms they need to be successful. to be successful in the bad growth, big debt environment ey have to cut govnment employment and reduce transfer programs. they have done very little of that. they were supposed to cut 30,000 jobs. they cut 1,000. they lost another nine from attrition. their entitlement reforms
12:03 am
are not too dramatic. they have the retirement age up to 6 it is 67 in germany. angela merkel is tere to remi them ey have a lot of work to do. melissa: charles, what do you think of those piures? >> well, they're the, ropean equivalent of burning anmerican fla, right? they're dressing up to in order to insult --. melissa: at least. >> in order to insult the germans. what doug says is absolutely right about how, how much austerity still has to go in greece. but it is also worth remembering that over the last three year their gdp has dropped, dpped, by 25%. they have 25% unemployment. youth unemployment is 50%. they have got a big corruption scandal in the government. this is a really hard road to hoe. what merkel is there to do is in effect support the existing government and say that she is backing them as they try to go through austerity measures. melissa: doug, how far do yothink she can be pushed?
12:04 am
this is really biting the hand that feeds you. >> you know i find it, you know, a little ironic they're at beinging their la friend on this. melissa: right. it's crazy. >> the germa have committed to writing a check to save greece. it's economically irrational. it is in the interests of the political environment which is greater europe. you know, she's there to support the government. she's there to remind them they do have worko do to merit the pport. but they should be aittle more welcoming of their last hope on this front. melissa: charles, makes me thk the whole thing is not going to work out in the end. >> well, there' a lot of political heavy lifting yet to do. it is worth reminding everyone that the recipient of these loans, which come with austerity measures, are never very happyabt it. do you see many americans during, during this political campaign welcoming the chinese loans? no. both parties are attacking. in fact, the, the outside
12:05 am
parties and last time, in greece and last time i was on, melissa, you and i talked about the rise of neo-nazi party, golden dawn. there is also movement on the far left there. so everybody is tying to use this very tough situation in order to gain political leverage. melissa: but what's the alternative? if they throw the germans out and theyay, we don't wa to do this, we're not going to do austerity, throw their own poll shish shuns t, what happens? hyper inflatio and economy collapses or a i missing something? go ahead. >> they will have to exit the euro and they won't have a mon temporary policy anybody will believe. their currency won't be worth anything. they have the problems they have already. they will need to do restructuring and do it whether the germans help them or not. melissa: will it be more or less painful for ththem in the germans lave? >> more painful. no question. >> the germans don't want to leave. melissa: obviously.
12:06 am
they're kicking them in the butt to get them out the door a they're not leaving. obviously they don't want to leave. >> exactly, melissa. melissa: i put that so delicately. imf says risks are of a serious global slowdown are high. they're blaming us imf. ifhese are your friend take a look at your enemies. they say it isur faelt because of fiscal clif they are blaming a lot of problems on us. what do you think? do we deserve it? >> the fiscal cliff is a real threat. we don't need to fix it to make the imf happy. we should fix it so we don't have a recession. that would be the number one priority in fixing the fiscal cliff. itould b self-induced recession. imf is complaining about the united states. they were complaining in the 2000s. th were complaining in the 1990s i take it with a grain of salt. melissa: professor, do you think the ris for global recession are high? >> yes, they say essentially one in six chance of that.
12:07 am
look at our pushback against the imf. the imf says sething sort of mildly critical of united states and we're pushing back imagine what it's like in greece when they're telling you have got to cut everything that is on the table? you can see just by our discussion how difficult these political i issues really are. melissa: gentlemen, thanks to both of you. we have to jump. we'vgot some breaking news. thank you. >> thank you. melissa:et's go to breaking news on chevron's third arter rnings. robert gray is standing by with more on that. hey, robert. >> melis, they're providing mid-quarter update and investors are not liking it at first blush. down 2% after-hours. chevron see third quarter earnings per share quote, substantially lower on that the second quarter. analysts we should no are factoring that in. they're 50 cents lower tn average analyst estimate what they reported in seco qrter. blaming lower margins, hurricane isaac. aft tax charges in there as well, melissa. 3.5 millionucks worth that we'll know for sure november
12:08 am
2nd when they report full third quarter earnings. shares down after-hours on wordrom chevron. back to you. melissa: thanks, robert. lifornia's gas pce crisis. as we've been tellingou the gas prices in the golden state have just exploded. now it is dirty gas to the rescue. governor jerry brown approved a plan t let gas statio sellthe winter blend a month early because there is plenty of it. even though the winter blend creates more pollution. which is why you'reot supposed to use it when temperatures are cooler. sacrificing the environment to solve problems. would you think californians would get on their exbooi don't know. let's turn to the former press secretary for arnold schwarzenegger on this. i'm being a little sar castic i think california deserves it. i'm so surprised. rather than carpooling. rather than getting on buys kest andelecommuting and working from home. they're using gasoline with
12:09 am
more butane in it to get relief..3 what do you think?. >> in defense i rode rode my melissa: steve, give a picture. i don't beeve it. >> i will tweet i to you after this i absutely did. melissa: good for you. >> give governor brown credit. he often getsriticized for siding wh environmentalists against consumers and bbsinesses. this time he went the other way. good for him. we have the delicate balance. we want to protect the environment. we're very proud of the beautiful landape out here in california but we also want to mak sure we don't strangle businesses. that delicate balance is hard to achieve but i think governor brown did the right thing. melissa: i can't believe you're making this argument. it is completely ridiculous. ivers have only themselves to blame. this was riff ren dmb to special cocktail of gasoline that so so expensive and so rare. not only that in 2015 it is getting worse. another proposition came in where standards will get even higher, tighting the stranglehold around drivers you're talking about.
12:10 am
voters have only theirselves to blame for this situatio and getting relief from this little respite. i think it is diculous. >> i hope it helps. keep in mind when temperatures do cool down, right now it is 75 and sunny across the state s we're not quite there when temperatures cool down the winter blend does not have same effect in it does in the summertime. that's why we do it in the wintertime. melissa: aaron you're cheating bringing it out early in order to get relief in the pump. give me a break. do not defend this insity!. >> we'relways criticized ing too environmental and not paying attention to businesses and not paying attention to job businesses because we're crazy whacko. now ing other way we're getting criticized. >> you're getting strangled and now suddenly you will throw the environment to the lves? it is one or the other, my friend. >> i think it is one or the other from critics from the east coast who say we're a bunch of loony tunes out here doing the wrong thing. this time we did the right thing. melissa: why don't you
12:11 am
support a repeal of this special boutique blended gasoline or at least not increasing standards in 2015 then? would you support that? that is totally different conversation. we have highest gas price in the nation here. 20 cents higher than the national average. we have highest taxes on any measure. melissa: yes. ridiculous. >> this is probably a little politically motivad. ke in mind on the ballot is fall, over 200 local tax hikes and governor has a $50 billion tax hike. state want to make sures consumers ow and voters know they're doing all the can to cut back on gas pric >> oh, my gosh. they're not doing all they can. get rid of this once and for you will. aaron, i love you. thanks for coming on. i'm a long time california native. i grew up there. i moved back there. i know about the state. i'm criticizing my own folks. thanks for coming on. i appreciate it. >> i understand. okay, thank you. melissa: time now for todas energy report. breaking down the biggest headlines affecting industry and impacting the econom first up, th u.s. supreme court will not hear chevron's appeal over damage
12:12 am
claims in ecuador. amazon rainforest residents won a $18 billion judgement from ecuador court in 2011. evron's subsidy, texaco was accused o committing envinmental damage over an 18-year period. clean energy investments dropped 20% in the third quarter compared to the same period lastear. a new study says the industry is on pays for its first annual investment decline in eight years. iraqi oil production will more than double by 2020 according to the international energy agency. i don't know about that. iraq's anticipated surge in output would make it the world's second biggest exporter of crude. i'll believe it when i see it. oil prices jump more than 3% posting their first gains in three days. rising middle east tensions over the conflict in syria helped propel the rally the look at that up three bucks. 3 1/2%. disturbing new report says it is months away from
12:13 am
having enough weapons-grade uranium to build a nuclear bomb so are the iranians even closer to the red line than we thought? details on that coming up next. plus muslim extremist hackers strike capital one's will b site and a wave of cyber attacks on u.s. banks may ju be starting. more "money" ming up. ♪ @7
12:14 am
12:15 am
12:16 am
12:17 am
melissa: remember this? israeli prime minister benjamin netanyahu standing in fnt of the u.n. with a cartoon of the iranian nuclear threat. that was a couple weeks ago to get their attention and it su did. now a new report sa iran could be close enough to produce wpons-grade uranium torm nukes. with me stuart holloway, former member of the u.n. security council. thanksor coming on the show. >> thank you. melissa: what do youhink of this new report saying they may be able to produce enough urium within two to four months? it shortens the timeli a lot. >> it sure does and disturbing to say the least but confirms what the intelligence community has
12:18 am
said, which says it is not only the amount of uranium that iran needs to produce a weapapon but the time in which it would take toconvert that. so 25 kilograms are what they're looking for in the two to four months is a close window. now they don't know if they made the decision to convert but to have that capability would be very disturbing for the united states and the international community. melissa: one of the other things to watch on the timeline of course is that they have to create a nuclear trigger so to speak. the internatiinal atom energy agency thinks think mayave worked secretly on testing such such a thing and of course iran denies it. what do you think? >> if they don't allow the inspectors in there it will be hard to ascertain what they have been doing. it is estimated it will take several more months to actually produce a bomb after the initial enrichment to produce one bomb but nonetheless we don't know what's going on. i think that is indicative of the kind of obfustion
12:19 am
that this regime has undertaken. melissa: and, benjamin netanyahu when he stood up there and made that illustration which to some people mocked as silly but he is trying to get people's attention. he certainly did. he said the world has until next summer at the latest to stop iran. do youhink that's the timeline because i think a lot of peopll athome feel like they have been hearing about this for a long time but maybe they have become numb to it? >> well there are two issues here. one of them is, what the definition of that trigger is for, you know, a military strike. we've had this question about whetr it's, nuclear capability or a nuclear bomb. you've had this kind of quieting down of tensions between the administration, netanyahu, during the last few weeks of the election season. i imagine you will see that rhetoric and pressure heat up no matter who's elected. i think it is going to be looking towards some kind of boiling point before summer, yeah. melissa: there was another report that was making the roun today that the
12:20 am
israeli intellence community considered highly reliab andt was saying that iran actually slowed down progress on their nuclear weapons program by eight months saying they were diverting some of t matter that they were using to sighness programs,to medical research. what would be the, first of all do you believe this? and second of all, what would be the point of slowg things down a little bit? does it mean that pressure is working? >>eah, well i haven't seen that report but i would say that one of two things is going on. one is, as you know we were able to look at a slowdown as a result of technical difficulties they encountered many say of course this is the product of concerted intelligence efforts to get into the cyber network. but, really what would be happening hear is the pressure could be getting to a point wherr they want to keep things on a slow simmer instead of having them in effect precipitate further
12:21 am
sanctions. so the iranians are very clever about playing it both ways. melissa: yeah. >> the real issue what are they saying publicly and what are they doing in private. melissa: what do you think america should be doing right now about this problem? >> well we've got a lot of ecomic upheaval in iran. it appears whether it is sanctions or the currency centerthat were set up, the iranian economy is on its heels ahmadinejad said today. so i think a rod of sanctions that get the u.s. and th e.u. to reay focus on the related industries in the oil sector toeep the pressure on. i think we'll likely see a calculation, we hope, by the government that it's not, it's not worth it. but the problem is, in an democratically elected system even if the people are suffering or if there is economic unrest it doesn't require the revolutionary guard, for example, to come into lin and to stop their activity. >> ambassador, thanks for coming on the show. >> thank you for having me. melissa: capital one's
12:22 am
website comes under cyberattack by muslim extremists. we have details where the cyber-terrorists may strike next. > the electric car battery plant that got 150 million taxpayer dollars, to do nothing. do you ever have too much money? ♪ úúúúúúúúúúúúúúúúúúúúúúúúúúúúúú traffic noises may0i0walk you acrossp the street?ú thanks.ú ♪ hold0my hand0
12:23 am
12:24 am
12:25 am
12:26 am
melissa: developing story now. if you were shut out from online banking with capital one you were not alone. this is the latest cyberattack by muslim extremists. the bank released a statement today acknowledginthe attack and saying quote, we have no reason t believe customer account information is at risk. we have word that most of capital one's online service
12:27 am
has been restored. that might calm some custers but the attackers say it is just the beginning. they're planning attacksn two other banks tomorrow d thursday. for insight we turn to morgan wright, cyber-terrorist analysts. welcome to the show, morgan. >> thank you. melissa:if you're annonouncing you're about to attack is that good cyberattacking or does it diminish your attack? >> this is good marketing. this is marketing ploy. they're talking about it far longer than the attack actually occurs. it is part of a personal belief having come from the law enfoement and intelligence field i believe this is calculated action by iran to make sure that somebody else, the focus is on them as they continue to support these attacks. melissa: i guess although i mean, my bank is among the ones thatave been attacked already. i didn't notice anything. i wasn't really inconvenieed. doesn't seem like they real ha that much sucss
12:28 am
thus far. is it good marketing if they're doing it and and customers are no seeing isn't maybe it slowed down your day a little but not really. >> you have to remember was it to actually take down the bank or create greater awareness for them? this happened from the first attacks from garden hose to a fire hose. people learned fromhat. financial services sharing information put out information. dhs, u.s. secret service put out information. people have had a chance to deploy and create countermeasures to attacks. will not be successful the second time. question ishat is definition of suess. is it attack or marketing awareness there doing this? melissa: are the banks in danger? are they doing better or doing a good job? >> ban have always been a target. like the line in men in black, son, we're always under attack. banks are always under attack. they deal with sophisticated
12:29 am
reconnaissance and attempts at infrastructure, with alysis service no data is not con promized. it is like putting 10 pounds of spam into a five pound can. there is not enough resources left for people to do online banking. >> who are these guys? now you said all about marketing i'm specifically not going to say their name. what are they all about? why are they doing? you make a great point. we're giving them commercial time by saying it. >> we won't menti it but actually so this faction of them are a hamas military wing and they not known for having technical capabilities. however, though, th are sunni, iran, shiite and hezbollah shiite, so sometimes terrori and politics maketrange bedfellows. as slin said sometimes you needseful idiots. they're getting someone else to deflect attention. iran can go we have
12:30 am
plausible denyeabilit we have no involvement in this. senator lieberman even said no doubt iran has a hand in it if not directly behind it because at this level it requires state sponsorship. and how dangerous is it? every day we seem to hear about a new cyberattack whether attacking oil installations, o pt rms foss, whoever. seems like this is the new way to attacknother country. how dangerous is it and is this future? >> it is dangerous enough that the air force create ad separate domainf cyberspace, air, land, sea, water and now cyberspe. absolutely no doubt people take this the question at what point does it elevate itself to require a strooik? you laun a missile, somebody launches a missile and respond as they did today? what type of event before you say we'll take physical force.
12:31 am
we'll bomb something, blow up something, kill somebody based on the electronic attack they did? melissa: we don really know t answer to that because we haven't seen it yet. who is the best at attacking and who is the best at defending real quick befo we go. >> as far as attacking countrieschina. i've been on sevel seg naents with china. do not underestimate their capability. north korea is ankle biter. best at defending, united states in a lost areas. the banks have become very go at this and a lot of sensitive installations private sector have a lot more to lose. no one person is good at it. you have to stay on top of it. it evolves every day. melissa: thanks a lot. for coming on tonight. here is our question of the day, how concerned are you about cyber attacks hitting your bank. many of you say you're very concerned like us on facebook or follow me on twitter at
12:32 am
melissaafrancis. a $150 million in taxpayer dollars up in smoke. a electric car battery plant get as huge grant from the federal government. it hasn't produced a single battery in two years. we'll explain that coming up next. > plus wall street banks poured money into barack obama's 2008 campgn but now not souch. it could be his biggest financial enemy. "piles of money" coming up but not for thepresident. ♪ ♪
12:33 am
chances are, you're not made of money, so don't overpay for motorcycle ininsurance. geico, see how much you could save.
12:34 am
12:35 am
12:36 am
♪ . messa: so another day another $150 milli of your taxpayer money up in smoke. back in 2010 the department of energy gave $250 million to a factory in michigan to produce batteries for the
12:37 am
chevy volt. president obama touted this as a step in the rht direction, to bringing manufacturing jobs back to america. well here we ar two years later and compact power has yet to produce a single battery. now it is forced to furlough all of its workers. joining me the senior fellow at the national legal and policy center. how in the wor did this happen? >> well, it is just another in the long line of gifts that the obama administration handed out to ectric vehicles, batteries that are supposed to run them and the chargers. it's a big failure. there are six car companies that got loan guaranties in the billions of dollars. ford got 5.9 billion, nissan got 1.4 billion. they gave grants to battery companies, a number of them up in michigan. eitherhey have gone bankrupt like enter 1 in indiana went bankrupt about a year ago.
12:38 am
lglg chem we're talking about. another one in michigan, a123 stems which got 249 milln. >> that is the exact same story. wee talking about this other company, compact power. you're bringing up a12, another battery manufacturer. got millions of dollars in taxpayer dollars and now another failed company. when i hear these stories i think about one moment from the debate. les listen to that and talk about it on the other side. >> don't forget you put $90 billion, like 50 years worth of breaks into solar and wind, solyndra and fisker and tesla and ener 1. i have a friend that said you don'tjust pick winners and losers, you pick the losers. melissa: he smiles but it is situatn after company after cap after situation where all of our dollars
12:39 am
have gone down the drain. you can't even say to create jobs no matter how expensive they are because no one is working at these places anymore. they're going out of business. >> theenergy policy is, something that govern romney could really stay on and really embass the president because, the so-called green investments have all been failures. gas prices a double what they were when he came into office. i mean the energy, is, the huge iss. peel are really ticked off about going to the gas pumps. but, you kno, this is just, clear pof that the, the private investment, venre capital should be left in the hands of private investors. they should not, the govement should not be taking risks with taxpayer money and putting it into speculative companies, whether established company like ford or nissanhat are supposed to create thousands of jobs in tennessee and michigan for these green electric vehicles and they're not going to do it because people are not buying the vehicles or
12:40 am
startups like fisker. melissa: they make the argument you have to prop up the companies for a while in order for them to become, be able to stand on their own. this is what happened to energy companies for years, to traditional energy companies. but here we prop them up and they can't stand on their own because no one is buying their products because they don't make economic sense. >> they're not investing in a new technology. this is not a technology of the future. this technology was around 100 years ago. the batteries don't last any longer. theyot charge any faster. the cars don't go any further than they did 100 years ago when electric vehicles were the ra. you know, the cars might a little faster than they used to. so really a failed policy. this is why government and a handful of bureaucrats are the no the people u wt deciding to invest mone into this industry. melissa: paul, you're so right. thank you so much for coming our show. we appreciate your time. >> thank you, melissa. melissa: a campaign sea shift for banks. new details how the biggest
12:41 am
wall street firms are leaving president obama in the financial dust. that is coming up next. at the end of the day it is all about campgn cash. ♪ ♪ [ male announcer ] how do you me 70,000 tradea cond... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technoly d services to help you solve it.
12:42 am
>> announcer: meet mary.
12:43 am
she loveves to shop online with her debit card, and so does bill, an identy thief who stole mary's identity, took over her bank accounts and stole her hard-earned money. now meet jack. after 40 years, he finally saved enough to enjoy retirement. angie, the waitress at jack's favorite diner, is also enjoying his retirement. with just a little information, she's opened up a credit line, draining the equity in jack's home. unfortunately, millions of americans just like you learn all it may take is a little misplaced informatn to wreak havoc on your life. this is identity theft, than stop it better see, ordinary credit mitoring services tell you after your identity has been stolen. they may take 30 days to alert you-- too late for jack. lifelo has the most comprehensive identity theft protection available. if mary had lifelock's bank account alerts, she may have been notified in time to help stop it. if jack had lifelock's 24/7 proactive protection, he could
12:44 am
have been alerted by phone or e-mail as soon as they noticed an attack on their network, before it was too late. lifelock has the most comprehensive identity theft protectionvailable, guarding your social security number, your money, your credit, even the equity in your home. while identity theft can't be completely stopped, no one works harder to protect you than lifelock. you even get a $1 million service guartee. that's security no one can beat. yohave so much to protect and nothing to lose when you call lifelock right now a get 60 days of identity theft protection risk free-- that's right, 60 days risk free-- use promo code: notme. order now and get this document shredder to keep sensitive documents out of the wrong hands-- a $29 value, free. call the number onour screen. [♪...]
12:45 am
♪ . melissa: so 2008 presidt obama was the darling of wall street but four years of being caed fat cats, it has taken a little bitfter toll. look at the fund-raising totals now. last time goldman sachs employees, for example, gave obama's campaign more than a million bucks. this time he collected just a tiny fraction of that, $137,000. that is compared to mitt romney's $941,000. from goldman sachs em so why the switch and does it even matter? to hear from both sides i'm joined by democratic stragist ryan clayton and republican strategist justin safely. thanks guys, for joining us. justin, i will start with you. why do you think there has been a switch? >> look this switch is not like the switch of many others in the past like goldman sachs and others who supported democrats in the past, who supported president obama but
12:46 am
basically after four years of inability to get the economy moving again, to get the unemployment rate as low as it should be and to get america moving again i think you're seeing a lot of people, not just folks on wall street but all across the board saying i voted for barack obama in 2008 but this aol time warner to do something different. melissa: ryan, you think it is economic not personal. >> look, big bad banks on wa street ok for return on thei investment. the reason the wall street supports the romney ryan plan for economy would shower the world's wealthiest individuals with trickle down tax cuts. melissa: no trickle down government? >> well, this iss just another version of that radical right-wing social experime known as trickle-down ecomics which proved to be complete failure. there is no supply side solution to the current situation. we need a demandside solution. we need americans with jobs and businesses need customers with money in their pockets ready to spend it that will be the only thing that will kick-start e economy. melissa: justin, mitt romney
12:47 am
said he would not repeal dodd-frank whether you believe it or not. he would not make it easier for them. that banks given him the money and he will pull a bait and switch. who do you think the friend is? >> governor romney said we develop in the debate which he did very well bense president obama, look, there are things that we need regulation on. and i think that is mething that he needs to say more often. obvisly republicans believe in a more of a free market system that there can be trickle down government that suppress and oppresses the ee prate enterprise system that made america the biggest wealth creating machine in the course of human history. but at the same time, governor romney said it well, that thereoes need to be regulation and i think that he, that is what he is going to do if he gets elected. >> ryan, you want to respond to that? >> well look, mitt romney hedging his bets and trying to pull into the middle so he can win an election. we all know looking at mitt romney's donors for his presidtial campaign he is bought and sold by big bad banks on wall street.
12:48 am
melissa: wld you say that about president obama last time around because if you look at totals he got even more money last time around. so was president obama bought and sold by big bad last election.treet in the >> many folks in the financial sector supported president obama. historicun for the presidency. but this time around it is re about return on investment and they're sporting mitt romney. these are people that crashed our economy. they got bailed out and they're still recklessly gambling with america's future. mr. romney is mr. 1%. everybody knows whose side he is on. he made his millions shutting down factories and shipping jobs ovseas. melissa: you don'ta money when you shut down factories. that is the biggest misconception about private equity. when you invest in a business and gout of business you lose your investment. i don't know how everybody misses that. >> well apparently a lot cheaper to hire people in china working for pennies on the dollar. that is probably why he shippejobs overseas. melissa: i shouldn't have taken that bait. we have to keep it on topic. justin, d the obama campaign compare, care about
12:49 am
losing this money when they aren't getting s much from hollywood. afr all, i is only million bucks. who cares? >> that was great point. i would make the same point. campaigns, president obama raised 100 dal millio, both campaigns raised $100 million per month last f months. million dollars from one particular indtry is drop in t bucket from these campaigns when theyill raise er hundreds of millions, close to a billion dollars. really not that much. melissa: ryan, give you the last word? is it a lot of money? it is only a million bucks. who cares. >> a ton of money flooding into our electoral system. we're supposed to have the government by and for the pele not bought ataid for by the big banks. this gets to citizen united. there needs to be separation of court and state in country so which have democracy and capitalism. melissa: we'll leave it there. thanks for coming on. >> thank you. melissa: what do yyu get when you combine booze and bullfighting?ikes!. this.
12:50 am
the details why on w these amateur matadors those are two words that should never go tether, are facing off with some very angry you will abouts. that is coming up next. can you ever have -- oh. ♪
12:51 am
12:52 am
12:53 am
12:54 am
♪ melissa: okay. i know you watched the show, and you saw aaron on at the beginning of the show talking about, you know, california and how they are solving the gas crisis with the dirty fuel. well, heromised me he rode the bike to the intervw. there he is. clearly, doing his job, how cute, doing his part. time for "spare change," and we are joined b adam. look at this. >> i want them to be safe. you know, this -- >> you okay? okay. what it does is gives us an opportunity for us to be able to -- it's electronic equipment that's simple for children to operate.
12:55 am
melissa: that's what you thought happened? clearly, it didn't phas her co-host. they said, you know, she's okay, feeling better. she's okay. do you think the cohost should have continued? adam, if i pass out, will you hop over here and finish the show. >> i'll take your chair forever. i think was not phased by it because sh fated before on there. most of us wouldave been shock saying we're going to take a break. melissa: it's qvc, you got to keep selling. it is capitalism, baby. capitalism waiting for no man no faintedwoman, okay? the show has to go on. this is the holiday season. move products, baby. melissa: that's right. what was that product, by the way? >> he was from trading ples. get in the and sell sell. melissa: love it. hats off both of them.
12:56 am
i bet she was back in the next segment selling. in columbia, look add what happened. it's one time of year whhre amateurs -- i n't know why, are allowed to jump in the ring and taunt the bulls. what a good idea. this year was different. due torunkenness in a pay-like atmosphere, 19 people suffered injuries from the event. >> this is like the indianapolis 500 years ago. it's nothing. >> alcohol gives you a false sense of courage and confidence. you probablthink you can take on the bull. not a good idea. don't get into the ring inebriated. friends don't let friends get in -he ring. >> it's public service announcent. ladies and gntlemen -- >> amazing. melissa: i don't know why, b it's good vio for us. the bulls are like, ntastic, like, yes, more of you, come in.
12:57 am
>> it's a little brutal. melissa: a money updecade for adam. canadian police discovered barrels of stolen maple sewer pup. $20 million million worth of syrup reported missing. the exporters say he illegally purchased the barrels from the small producer in quebec. you talk about the syrup being that valuable? i had no idea. >> absolutely. what you really want is that sip run, it's more expensive than goal. it's great stuff. it's priy. the small little jar costs $12, but relatives in canada, that's the way to do it. >> when you go intoermont and w hampshire, it costs you for just a little tiny thing.
12:58 am
it is valuable. the canadians have valuable exports, oil being number one, that we import from our friends, big time, but the second one is maple syrup. it's two or three. i can unrstand them putting all resources into place here to try to crack this case. melissa: i know you've studied, but adam is obsessed with the syrup. >> i made a pecan pie and you make it with maple syrup. melissa: drop one off in my office. >> i'll make one. melissa: i c't wt. i love a man who bakes. that's a man secure. >> there you go. melissa: you will see posts on coke, pepsi, and dr. pepper machines. they will also remind you that you could be choosing a lower
12:59 am
calorie drink instead. that's not capitalism. theuttons of the machines, and in case you wonder, a 20 # ounce bottle of coke or sprite is 240 calories. would seeing that make you change your mind? also, they tellou to g a drink with fewer calories. at's not selling your prodt. >> right. that's up in your grill. that's going to control your li. look, i'm opposed to it. it's a buzz kill. i understand why they are doing it, there's an obesity problem, and what is it about personal responsibility. >> they are doing it voluntarily, trying to do it before big brother tells you can't drink soda. >> it's buzz kill. all of the calorie counts are there no matter how hungry, oh, i wanted a cheese burger, but i'll take the salad.


info Stream Only

Uploaded by TV Archive on