in cyprus, they don't have bondholders. in other countries, thebacks collapse you take money from those who own the bonds. the reason they don't do it in cyprus, the banks don't have that so they steal from the depositors. that is a long explanation, i'm not sure will have an effect on the rest of europe. if i held an account in italy or spain i would be out of there in a minute. >> bret: juan, vote is tomorrow but it's pointing to the approval of it. >> i think willie sutton said, "i rob banks because that's where the money is." charles talk about normally you look at a tax on activities. manufacturing and financial activitiles but in this case, the banks have holdings eight times the size of the economy of cyprus. >> bret: russians have $30 billion. >> right. a quarter of it are russians. they say we will tax people who live here but have money deposited here, stashed here to protect it from russia and they see it as an easy out. easy way to get money to satisfy the imf. in response to the imf making an effort to bail the

cyprus president reportedly threatening to resign. among the details here getting fox so fox-- folks so upset. 25% on big depositors as well as a costly revamp of the troubled financial system. again, the deadline for this deal is supposed to be on monday. the banks are supposed to reopen on tuesday. believe it or not, by tuesday, they will have been closed here for ten days. the folks here are already worried about a run on banks. atm's that have cash and there are very few of those, are already putting a limit on how much cash they will put out. again, according to the experts, a failure here could be trouble throughout europe and of course, europe is a big trading partner and ally of the unite harris, back to you. >> harris: we'll get into more of that. now the part where americans begin to watch the clock and wall street set to open hours from now. senior correspondent, bulls and bears, brenda buttner joining me now. we're watching the futures ahead of the opening. our markets have been pretty resilient as of late. could this burs

here in cyprus are so upset. it was supposed to open today and it didn't. in fact the government decided to delay the re-opening of all banks here until at least thursday. by thursday, folks here will have had no access to banks, online banking, electronic transfers, for nearly two weeks. atms are working, if they have cash, and that is rare. the limit on withdrawals? 100 euros, $130. the reason for the delay, officials want to have restrictions in place. they're trying to prevent a run on the banks. that could still happen. all across the area there were protests, several thousand students were out. they're worried about their future. part of the bailout of the near bankrupt country worked out between cyprus and the european union could mean a slowdown in the economy and increase in unemployment. folks are also marching on the central bank here. people are worried about their money. they're concerned about the controversial approach to seize assets from private bank accounts to pay for the government rescue. ana

but what happened in cyprus is not that the government, which is a nanny government in cyprus, is insolvent. it's that the banks are insolvent. and the banks had sort of grown to about 6 or 7 times the size of the economy. with a lot of influx of russian money. what happened was the banks invested in greek bonds which went from 100 to essentially zero. the banks are wiped out. now, europe said we will help you out and that the beginning they made a fatal mistake. they said we will help you out if you steal money from all of your depositors. now, that caused sort of a revolution in cyprus. and it was stopped. but then they made what was the only wise decision. they decided that those people who have under 100,000 euros, which are insured, they have their money intact. but all the money that was put in beyond insurance -- it's like the fdic insurance we have here. is fair game. if you are in one of the two banks, you will probably lose it all. in the other bank, the bank of cyprus, you will probably lose about a quarter. but only the amount of money that is over the guarantee. and that, i thi

cyprus has been a haven not just for russian mobsters and russian officials. during kgb days, cyprus was a haven for russian money, and they doubled down in the 900s with a president thatees to moscow and a decision to become a haven for russian tycoons, who are not boy scouts, andles russian officials. >> shepard: they're laundering money or hiding it. >> that's right. this is something you think vladimir putin would be upset with. but he is more sun set that cyprus has been tampering with the accounts. >> shepard: which tells us a lot of things we already knew. here's what don't get. wonder why they didn't just tax people over 100,000 euro and that would be the russian mob. i don't understand it. >> that's right. there's a lot of wonder where this idea came from. just goes beyond simple keynesianism. and even though this plan to take money directly out of the accounts has been turned off, come monday there's going to be a bank run in cyprus, and this could lead to a broader crisis. really brought the european cries back to the fore. >> shepard: i doubt the r

so i think this is a long-term crisis for this country of cyprus, i don't think our banking system is anywhere near as bad as the situation is in a nation like cyprus, but the real lesson is, we want to avoid the contamination that's in cyprus and greece and the other european countries and the big mystery to me, sean, why are american politicians, including the guy in the white house continue to want to be like europe? >> and that's the 24 million dollar or billion dollar or trillion dollar question. >> right. >> sean: i think it's a good point. one related question on this, some people, for example, will put 240,000 in one account and the same amount in another account and maybe sold their house, whatever. now, each one of those accounts separately are fdic insured, correct? >> that's right the. you know, well, depends. there's limitations how much you can get insured on each individual deposit, sean and that, you know, every country has its own deposit insurance. >> sean: in this country it's 250,000. >> that's right. >> sean: nina, what do you think about this? should americans be

. >> the people of cyprus got the news they wanted but it will to be happy about. they have been saved from bankruptcy. one of the biggest banks will be shut down in part of a broader, economic slowdown here. >> it's too bad. >> bad. >> why? >> too bad. >> small depositors would be protected but people with bank account of $130,000 or more could see 40% or more seized by the both to pay for the bail-out. >> our deposits are not safe. >> european union officials defended the approach and called it the new template to handle future euro zone problems. stock markets said to fall in part op that news. european union says it cares. >> we will do everything possible. >> with the the merge european union funds assured some are set -- some banks set to reopen tuesday. they are going to try to prevent run on the bank but the two biggest bank won't open until thursday. europe is america's biggest rating partner. >> they said growth and stability is important to the u.s. >> to show how uncertain things are in the last few minutes we heard vie what the "associated press" news

the second biggest bank in cyprus. that bank gets the designation the bad bank it will be wound down. the tocks on deposits will be determined today. 40 percent of people's money could be taxed. it's interesting. this is like a tax the rich kind of thing going on there. >> all of the russian have their money parkd in cyprus. they had an opportunity to save cyprus, not so productive there. if you have less than 130,000 dollars in that bank it is okay. it is safe and it goes to the biggest bank in cyprus the bank of cyprus. >> the good news it won't hurt or markets. >> cyprus isn't out of the woods just yet. moody agency warning it is still at risk of default and it can exit the euro. that could see the euro zone through out the entire content. they will have painful consequences for cyprus. the gdp will be negative for quite sometime. right now there is how much money can be taken out of the atm 100 euros a day. there's panic over there. >> stars are going through and we don't want to have it here. >> it is time to take

now the question is ac, bc, before cyprus, after cyprus. if we realize the mistakes of the socialism that was created in europe and the consequences that come, and we take a hard right turn from there here in america, we may well save this cravened put us on the path of prosperity. >> i love you dearly but i'm not holding my breath. generally you do well as an investor defying the consensus and the media sort of -- the consensus view of they'll get through this, they're going to keep the european union together only to discover that maybe it wasn't a club worth keeping together, say it falls apart. what's the fallout? >> the fallout would be catastrophic. europe makes up 25% of the world's gdp so -- and 10% of our gdp is exports to europe so that would create problems for us. but neil, keep one thing in mind. if they had taken all this money out of the accounts, they would have fixed the problem. you have to remember they would have paid everything off. instead they kicked the can down the road. >> neil: that's right. >> that's what we've d

i would say it's headed the way of cyprus. if you start to confiscation people's money retroactively you have a problem on your hands. if you put it to the vote for people at stake, you get a result today in the parliament that nobody, not a member of the parliament supported the agreement to government itself proposed. the government party, not one of them voted yes. it obtained on a proposal it agreed to. >> bret: the state says affected taxpayers can request a waiver and hope they can struck a deal. we will follow this one. that is it for the panel. stay tuned to see the winner of the no respect award. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping

greg has the news in cyprus for us now. how are folks reacting to the deal where only the big money gets taxed? reporter: crazy stuff, shep. the president of cyprus was just on tv. he defended his actions and also asked the citizens of cyprus to stay calm. that could be difficult. they're grateful there in fact was a bailout put in place and bankruptcy was averted, but they're concerned about the high cost, not only that the banks shut down but a broader slowdown is feared, and the most worrying aspect of the deal, a seizure of private bank assets. it's true that the smaller depositors won't be touched, but when i talk to people in the streets, they're saying if the big guys can get hit. they will be hit next time. >> shepard: apparently not. the bank -- only the banks with big trouble are still shut town. when do they open? reporter: everything is closed down right now, shep. the word we're getting -- we had this confirmed -- many banks will open tomorrow. but there will be restrictions put in place. there is real fear of

live from cyprus. you know, if the collapse happens of the banks, tell force that country into bankruptcy and that will surely have a ripple effect on the markets around the world. not to mention, the president said the move to tax bank deposits. joining me, brenda buttner, anchor of bulls & bears. >> hey, jamie. >> jamie: i have heard a lot of people say, this is so novel and people in the united states are so concerned it could happen here. i would argue that it's already happening here. think about estate taxes, what happens when you pay taxes on money you earn and you leave it to your kids and it's taxed as high as 50%. what's the difference? >> very good point. that's part of the reason why the s&p fell for the first 9/11 four weeks last week. but it only fell 3/10 of 1%. cyprus is a very small country, very different from the united states in that we print money. they cannot. so investors have been thinking, you know, i don't think this is going to happen here. however tcould have an impact, tomo

>> you know, i think it's silly to compare us to cyprus, we're not cyprus and we're not going to have the problem, but we're going to have a fiscal reckoning in this country and we're going to have a reckoning in this country if everybody in washington doesn't -- if they keep doing their mr. mcgoo imitation and refuse to take a look the at long view. >> all right, thanks to you all. and especially thanks to steve for joining us. and the battle in light night comedy now including tax breaks. but whether the "tonight show" moves from l.a. to new york, we'll have you laughing all the way to the bank. [ anouncer ] ihop in time square to compare new griddle-melts to your usual breakfast sandwich. a lot more flavor. [ anouncer ] ihop's new griddle melts... made fresh and hot! hand crafted just for you. it's like a sexy sandwich. [ anouncer ] compare new griddle melts yourself. just $4. it's like a sexy sandwich. it's an epic breakfast sandwich. with google now, it automatically knows when you need to leave for the airport, how much traffic there is, and can have your boarding pass ready. th

what happened here is the banking system in cyprus is overloaded with both greek government and cyprus government debt. it's not that the banks are too big to save, they're to mismanaged to save. so right now at this hour the high hissing at two banks at cyprus are insolvent, and they could collapse on monday. at the same time, cyprus risks being ejected from the european zone which would be a stunning blow to the crowning achievement of europe, postworld war ii europe, to unify the warring countries in europe. there's a 14-year history of the eurozone. cyprus, if it's booted out, would be the first country to be ejected. at this hour brussels and berlin continue to reject plans to, basically, nationalize the state's pension system. also their reject -- they're rejecting plans in cyprus to use government bonds based on gas deposits in the country. so what they're talking about now is severe restrictions on money flooding out of cyprus via the banks there, meaning restrictses on cash deposits -- withdrawals, checking account withdrawals, electronic transfers have been frozen. so what th

cyprus operating with a liquidity lifeline. either you come up with the billions in the next couple of days or we're yanking our liquidity lifeline. i've got to go. >> the russians can take care of this in one minute. >> megyn: they know a guy, they know a guy. a heart warming act of kindness with a new spin on our troops. how one veteran made a difference for a soldier and his girlfriend. and the story all week. and grandma accused of killing her grandson? what did the jury rule. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. >> the >> a prank staged for youtube is getting attention today because

about other ways to store wealth. >> cyprus. this is at a 12-month low. you are supposed to buy low. >> buy the miners themselves, don't go into this fund. i don't like the expenses. >> your fund is odyssey aggressive growth. why are you aggressive. >> they are basically a big play. look at these. up 15, 20%. really low expenses as well. great holdings in this fund. >> you like it? >> yeah. this fund is showing great growth. several analysts have published reports showing that it might underperform this year. >> that's it for forbes on fox. have a great weekend. thanks for watching. keep it here. eric bowling and cashin in. >> confetti cake and candles, the birthday bash for obama care t president's health care law turning 3 years old. and the left couldn't be happier. >> it's helped us honor our promise of life, liberty and pursuit of happiness. >> but as democrats party we're unwrapping more costs hidden in the health care law, a gift now standing 67 inches high, taller than the president when you pile on all of the new regula

all something that cyprus residents never saw coming. until it did. just like we in this country try to reassure ourselves, oh, can't happen here. until it does. because it could very well happen in this country. we are going to be exploring it in detail tonight. 8:00 p.m. on fox business network. you don't get it -- >> demand it. your money depends on it. see you then. >> eric: hello, i'm eric bolling, kimberly guilfoyle, bob beckel, dana perino, greg gutfeld. it's 5:00 in new york city. this is "the five." >> eric: if you missed dr. ben carson's speech at cpac earned him more cred among conservatives. watch. >> when did we reach a point you to have a certain philosophy because of the color of your skin? when did that happen. a reporter once asked me why i didn't talk a lot about race. i said because i'm a neurosurgeon. they thought that was strange. i said you see when i take them to the operating room and cut the scalp and take off the bone slab, i'm operating on the thing that makes that person who they are. the cover doesn't make them who they ar

again, keeping cyprus out of bankruptcy was very important for cyprus but for the european union. they were worried about domino effect. because the european union is the number one trading partner for the u.s., trouble in europe is trouble for america. so maybe, just maybe a lot of people can breathe a little easier. we're not getting in confirmed but we won't see until tomorrow but maybe some daylight in this ongoing, quite intricate financial doings in cyprus. >> gregg: what an amazing series of events. greg, thanks very much. i guess my grandmother was right keep your money in a mattress. better return if you live in cyprus. >> arthel: coming up, we have breaking details about a murder case that has riveted the country. finding a link of colorado prison chief to a parolee who died in a wild shootout. >> president obama conveying a message of solidarity in israel saying america will always have its back. will his words reassure our closest ally in the middle east. >>> my main goal on this trip is to have an opportunity to speak directly to the israeli people at a time obviously

but i guess we are talking about cyprus. >> that's what i meant. >> cyprus, i think, unlike some other people, think this is a big deal. i don't think it's a big deal for the u.s. it will blow over and long term might be a positive. >> shepard: because it will get them to straighten the mess? >> no, just like the asian contagion, what it did was made the u.s. be the place that is the relative safe haven. you get a flight to quality. so when there's turmoil around the world, that's good for the u.s. >> shepard: that's what i was thinking from the beginning. if a country breaks their insurance, for instance, if they said your deposits are insured up to 100,000 euro and they took that, we have got a new game. they didn't do that. they went over what you are guaranteed is safe and then started worrying about the rest of europe. i'm thinking if i'm in europe with a bunch of euros, i'm about to make them greenbacks. >> absolutely. hopefully that won't happen to the degree talked about and it probably won't. >> shepard: there's a lesson to everyone about finding out something about the bank w

they're still going after it in cyprus. but since they're only going after rich bank accounts. no wore for us, says who? get ready because we have somebody who is predicting chaos, and is banking on it, literally. >> neil: this just in. tomorrow we will know whether cyprus residents who can finally get their hands on their cash, create a panic and drain a lot of the cash, because for the first time in more than a week, all but two banks in cyprus will re-open. but to make doubly sure folks don't create a panic, the government is capping just how much they can withdraw, and that's a measure that should largely leave most bankholders happy. the latest cyprus rescue package calls for hitting those with only 1 -- $130,000 in their bank. our money guy, charlie, has the former reagan money guy, art, here as well. charlie, play out tomorrow and how you think it's going to go. >> everybody is growing to try to get their money out and everyone will, except the drug dealers -- >> neil: you can't empty your account. >> but you'll get as much as you want. you know -- i remember -- it's not

europe's central bank has sed a monday deadline for cyprus to come up with a plan to save itself. otherwise, emergency funding gets cut off entirely. that could force cyprus to ditch the eurozone, and investors say change like that could trigger a broader market panic. greg is live for us. greg? reporter: we're standing in front of what is really a symbol of the problems here, an atm machine. i'll ask my cameraman to zoom in on it. this started working in the past hour. we talked to people who have been to 20-30 atms, have not found any cash. they're desperate. a few blocks from where we are the parliament is meeting, trying to come up with a new approach to the bailout plan, and also getting rid of a troubled bank and what is off the tables the nationalization of pension funds. that was even said to be too tough by german officials but the proposal to tap into bigger accounts over $130,000, but that has got to be stirring people up. we were with them outside the parliament, protesting. they're worried about their jobs, worried where they'll find money, worrying about businesses t

but russians launder their money in cyprus. but the people would are ticked off, the peek protesting, and they're raiding the banks. the government is changing their plan. instead of taxing at 6.75%, the will tax at 3%. >> shepard: this is a bank holiday in cyprus. they were going to open tomorrow. then they decided to wait until wednesday or thursday. now looks like friday. and along the way, there was a plan to tax large amounts of money at something close to 10%, and then every day folks at something less. that's the part you said they've taken down. >> that's the part they're concerned with. they know they're making the people who live there angry. if you woke up tomorrow and saw your account -- your mother's account was being impacted like this, you would be desperately unhappy. i can't imagine what kind of reaction we would get here in the u.s. >> the concern is that cyprus does this, you have problem in italy and spain. and then there's a run on their banks. >> you don't know the impact here. it's the rule of law. you're

the white house just reacting to this developing story in cyprus. protests are underway there at this moment. can you blame them? it's over a just-announced plan to seize up to 10% of people's private savings and the island nation tries to deal with its financial crisis. the white house says it's quote, monitoring the situation, as people rush to withdraw their money from banks which they've had to close to try to prevent a run of the banks so they're shutting down atm's and limiting withdrawals as well and jay carney went on to say that they need to deal with the fiscal crisis. greg palkot with more on this. >> reporter: megyn, force fi first time during the euro zone crisis, they have to pay off the bailout, around 10% of deposits, around 130,000 or over, and at least 7% of all deposits underneath that amount. you can imagine that this is not going over well in that island country. take a listen to one british ex-pat on cyprus. >> i plan to go to the bank and withdrawal all the money i have in there and have nothing left in there. you know? i can'

so when you hear, bill, a lot of people say, well, cyprus is cyprus and it's not us, and and you grew up as a young guy witnessing for yourself what can happen, any lesson that you want to pass on? >> yeah. all great points, neil. whence is listen to this, i didn't fully understand it. i do now. i think about in 2008 when all the -- the banks went from -- to $2,550,000 for insurance. when you have trust for an institution to take care of something that is lightfully yours, and when they change the rules on you, there's inherent unfairness about that. and you mentioned charles keating. i think the banks he bought into operated in arizona, and ironically he was from cincinnati, ohio. this is michigan that started in the mid-80s but did not wrap up until about 1992 or 1993, as i recall. >> that's right. another $124 billion 'by the taxpayers. thank you very much. >> i consider my parents lucky. they were able to get their money back. others, not. neil more right after this. he i. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servin

♪ ♪ ♪ ♪ >> greg: cyprus is mulling attack bank deposits in the country. the breakdown below $100,000 euros will be taxed at 6.57%. above that, taxed at 9-point #%. above 500,000 euros, taxed at 15%. the wholesale robbery has caused the citizen to rush to get the money out. the response, the banks close. how can a government assume it can get away with this? because they assume they can get away with it. they can own guns but it's a bear to get them. the government wonders of the populist, what are they going to do? shoot us? in america, yes, we will shoot you. gun control advocates have fun order to believe they protect us from the government tyranny. what if the government here tried to take over your bank account? war. it would be on. cyprus proved that joe biden's notion all you need is a shotgun is deeply flawed. sadly, though, the steal from the rich mentality is alive and well in america. remember occupy wall street? how different is the solution from the ret take demands your wealth is spread around? the defense against the toxic ideology isn't onl

greg palkot is in cyprus monitoring it all. >> reporter: that's right, folks here in cyprus are clearly worried, perhaps we should be as well. banks remain closed and atm's are running dry and cash is in short supply. and today, they have additional reason to be concerned. officials here are scrambling to come up with their portion of a bailout package to try and keep this place from going bankrupt. they're now looking in a controversial approach to seize assets from private bank accounts to help pay off maybe as much as 25% from big accounts, and imagine if that was happening to your bank account. and also, a smaller bite, perhaps, from smaller depositors. to give you an idea of what it is like to live here in cyprus right now, take a listen to a chat i had earlier with a fellow at the atm's we're standing at. take a listen. >> no money, i have my card. >> you have your card. is it worth anything? >> and have you been able to get any money? have you been able to get any money today? >> i have been around 20 now i have to go home because i waste my petrol. >> reporter: by the way, petro

cyprus is officially on the clock. european bankers have given cyprus four days to come up with a new plan to avoid bankruptcy. senior foreign affairs greg palkot tells us what the hurry is. >> anger outside of the cyprus parliament. bank employees are worried they will lose their job. the both would take measure to consolidate the troubled cypriot financial failure to protect the smaller deposito depositors, said to be part of plan "b" to contribute to multibillion dollar bail out by the country. >> there is only one tactic. to save our economy and our country. >> the original plan for cyprus to tap in private bank account. it was nixed by officials after widespread outrage. a new approach includes a solidarity fund reportedly based on state assets including pension funds. the european union is worried that problems will spread and cut support by monday if cyprus doesn't deliver. >> i think there is definitely a systemic risk and i think that the unrest of the last couple of days has proven this. >> the cypriot offici

you think about cyprus yes, a problem. italy now in the crosshairs, too. >> shepard: even with all of this drama in europe stocks are right at record territory. >> s&p 500 five points off the all time high set back on october 9th, 2007. can't seem quite to make it through that some day it will. we're short in trading week because of the holiday this week. i'm not sure if it's going to happen now. >> shepard: european flight to quality into our good situation. >> could happen treasury not stock. >> shepard: that's true. gerri willis, thank you. i mentioned cyprus and will continue to do so. there the banks are set to reopen in a few hours. most of them. residents can expect some really unbelievable restrictions when they try to get their money. think of this. folks will be able to deposit checks all they want, but they can't cash them. there is also a limit on how much money they can take out of the country itself. about the equivalent of $3,800 for each person. of course, officials are trying to prevent an immediate run on

and frankly, cyprus is flat out of money. it's then possible that the russians will come in and say, you can have a bailout. we'll give you the money, but you give us your oil and gas drilling rights off the island of cyprus. so, there's international intrigue coming into this all over the place. it is a really messy situation, but the point is, megyn, you put your finger on it, it's an important breach of principle. how safe is your money in your bank account if the cypriots do this? >> it's the equivalent of your leader sneaking into your house in the middle of the night, slicing over your mattress and taking out 10% of what you have in there. >> that's right. i can say i don't think it's going to happen in the united states. >> megyn: no. >> because we can print our own money. >> megyn: and there would be a full-on revolution in the united states. you try telling my friend in staten island, 10% of their account is going to the federal government. thank you. and there's a description of retirement crisis, barely prepared to

greg palkot live in cyprus outside the parliament there. greg? >> reporter: yeah, that's right, that's right, megyn. the folks here in cyprus are breathing a sigh of relief, their country is not going bankrupt, but the price paid could be high for the people here and around the world. and with the european union to cough up its share of the money will be tough. one bank here will shut down, that will cost a lot of jobs. and most important, money in uninsured deposit accounts, about $130,000 or more will be freezed and that amount 40% and more of all depositors will-- small depositors will be spared, but they'll suffer in other ways in the country. and now, the president of cyprus is set to go on tv just about now. his government has been blamed for a lot. the country has become a bit of a tax haven for rich russians. some banks, we are told now, will reopen on tuesday, but restrictions will be in place. there was real fear there will be a run on those banks when they do reopen and in fact, we have just learned that the two biggest and most troubl

unlike cyprus we can print money. that's screwed up. if you think most hybrids are a bit under sized then this will be a nice surprise. meet the 5-passenger ford c-max hybrid. c-max come. c-max go. c-max give a ride to everyone it knows. c max has more passenger volume than competitor prius v and we haven't even mentioned... c-max also gets better mpg. say hi to the super fuel efficient ford c-max hybrid. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards. just a click away with the geico mobile app. >> neil: this just in. it capture happen here. one after another top u.s. officials commenting on the growing chorus op on cypress, there's a difference between an island nation going bust and the world's richest nation doing the same. the world's richest can always print money. that's not exactly reassuring to me. they're saying

we are live in cyprus. the latest on a missing vial. a vial which scientists say is filled with a deadly virus. and did you hear about tiger woods? he is back on top. back on top for the first time in more than a year we'll show you what happened today. as we approach the bottom of the hour and the top of the news as fox reports live tonight. your chance to ri. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. ( crowd chatters and groans ) hunger creeping up on you ? stash a ritz crackerfuls. made with real cheese and whole grain. don't get caught hungry. ritz crackerfuls. after florld gulf coast university add vaptioned to the sweet 16. the first time a 15th seed has ever accomplished that feat. you go fort meyers. earlier this weekend the ninth seed wichita state took down top seed

in front of the central bank of cyprus. gates of parliament including thousands of teenagers. >> they made the wrong choic choices. >> for cypriot, more unanswered question. how much will they seize from the uninsured account to fund the bail-out? will this lead the country deeper to recession? john? >> rich edison for us in cyprus. thank you so much. at home, the market shrugged at the crisis. the dow added 112 points closing to another new high. the s&p 500 is up 12. nasdaq gained 17. still ahead, au treaty with second amendment advocates crying foul. first, south africa is decades from apartheid. but the economic troubles remain. >> john: 13 south african soldiers part of a mult million national army died fighting rebels in a central african-american republic. the heavily vit sized intervention is one of the myriad problems facing the former home of apartheid. senior former affairs correspondent greg palkot has that story. >> reporter: south-kay the, the biggest economy in africa. gleaming downtown. stadium from the succ

anyway, the banks re-opened here in cyprus -- not materialized. that's not to say there is a lot of pushing and pulling in the crowd. we were right in the middle of it. here's a little bit of what it looked like. >> after nearly two weeks this bank branch is finally opening up 25 minutes late. at it touch and go surety guards keeping people back, allowing only maybe about four customers inside, and those outside upset. once you get inside you can't do much. there's limits on cash withdrawals. restriction on credit card use, checks, and moving money out of the country. the security guard trying to avoid a stampede on the bank. right now a lot of people angry and anxious. >> gate get your money out? >> 300 euro. >> your maximum? >> yes. >> you wish you got more? >> yes, because my personal opinion, the financial system will collapse. >> i feel a bitter, angry, frustrated, but in the meantime, i think we have to work hard and recover what we have lost. >> shepard: they're working on that, greg reporting on cyprus. some technical issues with greg's li

greg palkot with the news live in cyprus. i should say in the capitol of cyprus. what's the latest there, greg? >> hey, shep. it is a small island nation making some big waves. protesters were very busy outside of parliament while a plan b for a bailout was prepared. lawmakers voting to break up one troubled bank. mortgage off church assets on the island. yes, they would look again at that controversial idea to seize money help pay for it all. even some from some small depositors who thought they were insured. this as it got even harder for everyone to get their we saw it firsthand. people we spoke with were desperate. the banks are supposed to reopen here on tuesday. they are already preparing for and expecting a run on the banks. when that happens, shep. it could be a stampede. felt and heard around the world. back to you. bill. >> shepard: greg palkot live in cyprus tonight. plenty of homeland security snipers knew about the fast and furious gun sting. they did nothing to stop it. fast and furious was meant to follow guns from the u.s. to mexican drug cartels.

, first of all, half the team were cyprus, where, what? why do i care? it's a little island nation and they've got some issues and i don't know shall the russians are laundering money there, why do i care and discussion of moral hazard and whether there's a precedent being set because the united states of america doesn't have its balance sheet all that shored up either and certainly our friends in europe are in greater trouble than we are in today. so now we see, after people dismiss this, as you know, it's cyprus, not to worry. the head of the euro zone comes out and says, i think it's great. and actually, now the number two guy is saying, i don't exactly agree, hold on, because the market started tanking. >> well, that tells you everything, because of the market. and you're right. everything you say is right. it's an outrage and look at this. try with someone small and insignificant and then it gets to you quickly and that's another example of this. who cares about cyprus and then it could be spain, italy, germany. everywhere else. >> no

cyprus cannot print the euros. and what the cypriots did with the idea of stealing people's private money put the fear into bank accounts the world over. >> sean: we have the solution right before our very eyes. it's in north dakota, unemployment at 3%, they're building schools and hospita hospitals. people are getting six-figure jobs that know nothing about the oil industry. >> that's a great point. what was the solution that the russians offered, give us the exploration rights to your natural gas and we'll fix the problem. we can fix our own problems, right. >> all america wants to do is get the resources which are ours, and if it went gung-ho for the oil and gas under our own territory, you could have 4, 5, 6% growth for the american economy and a long way toward solving the debt problem. >> sean: here is the new world order as relates to fossil fuels. we have more oil, fossil fuel energy than iraq, iran and saudi arabia combined. we have it all. especially with the new technology. that means what's happening in

. >> banks reopening today in cash strapped cyprus. good luck taking money out because a host of restrictions now all of the money there in the bank. rich he hadson is live with more. good morning, rich. >> good morning, ainsley. for the first time in about a couple weeks banks are opening in cyprus in less than 15 minutes here. those restrictions you just mentioned are probably why there aren't that many folks waiting in line. there is still a line. 2 dozen folks only started lining up about a half hour ago from here. that is probably because of these pretty strict capital restrictions that are in place. take a look here. you can only take out about 300 euros a day for the next week. that comes out to almost $400. you can't cash any checks. there's a 3,000 euro limit on cash leaving the country and credit and debit charges are taxed at 5,000 euros. central bank says they will keep it in place until they get the bailouts finalized. the banks of cyprus says it is part of the deal that calls recap tallize. they have their fingers crossed

the worst case is that cyprus could get booted out of the eurozone. by the way, jenna, euro officials are talking as well today. they say on the one hand this sort of seizing of assets could not happen in any other country in europe. that is the fear. another official saying deposit insurance which exists here in europe only covers depositors in case of a bank failure. >> jenna: interesting disclaimer there. getting back to cyprus, tiny country but a whole lot of big talk about russianings. where do the russians fit in here, why are people talking about the russians when it comes to cyprus? >> reporter: this adds another new, intriguing element to this whole story. russians play a big part of the story. that's because rich russians are big depositors, big investors in russia. lax banking regulations on the island said to be a factor, and that's maybe a factor the european union doesn't want to help too much in the bailout for cyprus. for its part russia is saying that if these levies are imposed on depositors -- many of them russians -- it might yank

we're live in cyprus. check out those lines at the atms. we'll have all the details for you coming up here on "happening now." the new guy is loaded with protein! i'll believe it when i--- [ both ] oooooh... [ female announcer ] as you get older, protein is an important part of staying active and strong. ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. [ major nutrition ] ensure! nutrition in charge! jon: new information now on some crime stories we're following. volunteers handing over items in the search for kira trevino. no word on what minnesota police collected or what evidence they may provide. she is missing for weeks and presumed dead. her husband is charged with her murder. >> fbi joins the search for a brown university student missing for a week. investigators say the 22-year-old left his apartment without his wallet and cell phone. >>> two georgia teens charged with murdering a toddler are due in court today. the boys stand accused of shooting the 1-month-old baby in his strol

look at cyprus, and they're having small and large depositors write down their debt. anything that makes investors run away faster it's that. people should feel pretty good about the government. >> brenda: john, i've got to let you take that on quickly. >> what happens in cyprus mainly dictated by the eu and driving at lot of liquidity to the united states. i think that's a -- that the we're a safe haven. >> brenda: thanks, guys, that's got to be the last word. so, just as gas prices are starting to come down, are american drivers abouto get slapped with an extra $1.40 a gallon tax. wait until you hear what the money is going to be used for. neil's gang is fueling up. when teachers cry about school closing, ask really about kids or them? some say the real reason the union protesters are shutting down streets is because cutbacks are costing them jobs. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that

we are waiting word on a possible bailout deal in cyprus. the country is facing a monday deadline to avoid financial collapse that threatens to throw another monkey wrench into the world economic recovery. now officials there reportedly agreeing on the elements of a possible deal. greg palkot is live for us from cyprus with the latest on this possible deal. greg? >> yeah, heather. it seems like we could be closer to a deal here in cyprus to avoid this country from going under. of course, it will be good news for cyprus, as well as europe and the united states. angry protesters kept up their vigil outside of government offices today. inside, reports are that officials agreed with others to tap into the accounts of big depositors of the biggest -- by as much as 20%. small depositors would be spared. so reportedly would be pension funds. the hitch is, a broader plan to seize assets was nixed here earlier this weeks. we're waiting to see if this will require some more attention. the plan now, though, is for the whole package to be reviewed sunda

the tiny little country of cyprus is now getting a bailout. euro zone finance managers are doing it by ceasing people's bank account. lauren simonetti joins us to explain. all of the citizens there were trying to draw their money from the atm's. >> it's a small your pee an nation of cyprus making the 59 need bailout. the terms of this rescue are much different than the other ones. their bank deposits will be taxed. if you have over 100,000 euros in the bank 9.9 percent levy. less than, 6 and three quarters percent. many nervous people tapped out the atm. a lot of russians have money in cyprus. it is up for a parliamentary vote this afternoon. it can be changed and amended to penalize the smaller for less. the good news is markets in cyprus are closed today for holiday. futures are reacting very negative. >> that's scary the government. nabbing your money like that. people at the office notice younger people can be i am mature. >> appearance punkality and honesty all matter in the workplace. a survey of 400 human resources say a third of the hi

cyprus is a partner in the euro zone. atms are running out of cash. bank holiday on monday the earliest banks will reopen is tuesday. when they do there will be limits op withdrawals to try to avoid panic. >> we want to take -- they want to take our money. >> late today, top official in cyprus said the government there would come up with a solution. the details of that solution are still not known. there are some busy and nervous days ahead. bret? >> greg palkot in london. thank you. >> the supreme court ruled the rupoff from logging is not industrial pollution. does not require a permit. the decision reverses an appeals court ruling. still ahead. we catch up with up with of the first americans to go to war in iraq in 2003. has the president and democrats conceded the gup control fight? ♪ male anner ] were you more interesting in your twenties, or now? when you we starting out? or after a few dedes working in some well-worn character? experience makes you wiser for the wear. and now come the richer possibilities. [ children laughing ] aarp. an ally

it's happening in cyprus, but this could be us. let me explain. the government there wants to tax people's bank account up to 10% of what they have in the bank account. say ten grand there, say goodbye to 1,000 bucks. wham, bam, no thank you, ma'am. it's already caused such

greg is live in see if produce. -- cyprus. reporter: the folks in cyprus are still short of funds. if the banks re-open on thursday, and that is according to officials not a done deal -- cypriots will have been without banking for nearly two weeks. atms are limiting withdrawals to 100 euros. officials want to have firmly in place restrictions that try to prevent a run on the banks. according to the folks here this could still happen. among those protesting today, several thousand students. they're worried about their future. austerity moves could be the slower economy, an increase in unemployment. folks were also marching on the central bank and we were there with them. people are worried about their money. they're concerned, as are many people elsewhere, about the controversial approached uses in the bailout, to seize assets from private bank accounts to help pay for a government rescue. today europeandown union officials claimed this tactic was unique. analysts are not sure about that. uncertainty again in the noble economy. >> shepard: adc cop has a lot of explaining to do. a th