>> 466 and the nasdaq is saying this is going to cover that. they have some questions. given the fact its citadel and capital is leaning toward urging them to accept. four players here that lost money. four big players, two of them are telling the sec, let's take the money. two of them are unhappy. gerri: we have been all year. the settlement, $64 million, 63. exchange members are reminded that they may seek financial accommodation from nasdaq pursuant to nasdaq room number 4626. >> and other parts of this. emmy, you mentioned the fact that investors have obviously lost half their money, and that

had nothing to do with the nasdaq execution. this was an overpriced stock. gerri: you think it's overpriced right now. >> i think so. sixty times earnings when it came out, half the value, which means it 30 times earnings, and this is a company that has shown declining revenues and the first. if you're 60 times or even 30 times earnings are you better have a hockey stick of our revenue growth chart. this is a company that had declining revenue. gerri: out of the gate at 38. here is what they had to say. nasdaq proposal, facebook related claims to mostly inadequate. ubs on the same side of city. >> granted, you know, i think citadel and the other from that i mentioned to not lose nearly as much money. gerri: critical for small investors. is this putting a chilling

effect on professional investors' interest, not only internet ipo is, but stocks generally? >> yes. and one of the reasons is because social media stocks, ipos last year got way out of whack price wise. i think facebook was kind of the poster child of that. now the recent ipos coming out, they are not a successful. they're cheaper. so i think actually there's sanity would turn into that said the market. it did take long enough. this segment get really out of hand from the high side. gerri: comeback in any time. after being dumped by at&t verizon and limited wireless, the plan and making a comeback. start selling an unlimited data planned again on september 5th that will cost 20-$30 per month. the number three carrier already has an unlimited data plan. sprint's network is showing signs of congested. at&t and verizon both stopped

unlimited plans last year. both carriers offer the iphone which uses record amounts of data, and they cannot keep up with the promises of these plans. it will continue following the story. hard to miss the triple digit losses for the dow industrials. the market's down board is in a row house. that is the longest losing streak in three weeks. other markets correcting? >> first of all, it is confusing me. i have to say. you know, it is one thing to have stocks down. it is another thing to have it related to other markets. for example, if we see stocks down the generally looked set your first. if we look at the pattern of interest rates lower and stocks down cannot normally you see the euro down. i don't think they're related. and the other hand, with

interest rates lower and gold rising, perhaps we could say, well, maybe we are looking at that fed resurrecting quantitative easing, but then we would normally have seen stocks rise. so it seems not only are stocks reversing this course which is disturbing by itself, but they're doing it in no way that is not synchronized with the other markets that i usually find. gerri: none of the usual relationship sold right now is what you're saying, and it's confusing to professional investors to what this all the time. we had a decline of 9% in may. are we going back? >> i don't think so. the thing is, and left without any news, without any headlines, the market does appear to want to go higher, at least on, you know, relatively meager earnings , growth in revenues. analysts are expecting a little pick up.

i think at least fundamentally the trend is probably favorable. all this other stuff. well, you know, normally i would say it could be a scare with israel, what oil was down today. so it looks to me like the markets are starting to change course. i'm just not sure if this is the beginning of, you know, up cold streak for stocks right now. gerri: one of the big things coming up is this meeting in jackson all where bin bernanke will speak, and all eyes will be glued on him. big debate in the market over whether the fed will try to do more to help this economy. what does your crystal ball six? >> well, what that will likely do and what they should do are two different things. that needs to be off the table. let's not worry. we have had a rising energy prices, rising other commodity prices as a result of a drought. we are seeing a slight pickup.

interest rates are at, you know, an all-time low. i'm not sure that we need qe. in fact, what i would hope the fed would do is look to the european central banks and other central banks to take the lead. that said, you know, we saw minutes come out yesterday. perhaps central bankers, i mean the governors are in favor. and so there is a sense there going to do it anyway. gerri: why don't you like more stimulus to make everyone i know seems to be clamoring for more help. >> i think it is just, you know, really just sheer shock. it is like we're running a marathon on twinkies. it is not really -- it is not addressing the long-term issues. what it is doing is trying to solve the symptoms. as we know, the more twinkies we eat the worse things get. gerri: it's fun for a little while. you get that little rush, the sugar shock. great. thank you for coming on.

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stock can't hit a dollar on the nasdaq. as we told you that last night nasdaq warning the car battery company a123 systems that the price would be delisted if it does not go up to a dollar. the closing price, $0.30 per share. with more on this, environmental scientist and a ei scholar. what do you make of this? >> we have another great example of socialism. to a taxpayer dollars to cover risky venture by making super batteries for cars that people are going to buy. here, of course, the taxpayer is taking the hit where they're not going to get their money back. gerri: any way this company can get back above a dollar? >> i don't see it. and now wants to buy it for virtually nothing. actually does seem to have worked with to some are in the. gerri: that is there money, investment, proprietary knowledge. >> that is exactly right.

intelligence. the administration continues to claim that all these investments were perfectly fine and evaluated by career, the department of energy, no undue risks taken. this is really crazy. as i said cottages socialism. gerri: i love that phrase. the big winners have got to be the chinese. they get all the work and half-hearted to pay the money for it. they pay some, but obviously not what it cost. >> the chinese are going to scoop up the price year, assuming, of course, there is a future in electric vehicles. so they could just well be that china will buy and sell something that doesn't work very much, but only the future knows. gerri: the federal government seems to be good at picking losers. can we trust the federal government in this capacity? is there any way to have a good influence on r&d? >> they can if they are sticking to fundamental university level r&d and not picking favre

technologies. it's a looking for new ways to improve chymistry as opposed to a company that says we have a great technology. this juices the government r&d can do well the way. when you start trying to do the venture capitalists is developing individual industries cross over the development special the money gets lost. gerri: to you know what i find interesting? we're in the middle of an engine surge in this country, i guess, you name it. we are on fire. the you think a lot of these technologies we are spending so much time talking about, wind, solar, do you think it will go on the wayside? >> i do. unless the of criminalists and administration and manage step over regular to the law with a cycle the natural gas pump the economics you can't get over the

fact the blow or shine at the wrong time in comparison to when the action the the energy. gerri: appreciate time. the latest developments. another great energy disaster. recently the federal government approved a multimillion-dollar loan guarantee to a wind energy company in denmark. two days later that denmark company zaps two-thirds of its work force. the reports show the struggling company got $15 million from the state of arkansas. why is more taxpayer dollars. they celebrated successful partnership. anyone standing in the way of this industry frankly is unamerican. you know what is really an american? a danish company laying off 234 workers in an american plan

after getting american taxpayer money. that's right. coming up next, the new phase in prepaid debit cards. plus, more than just pretty faces. huge money makers. we will take a look at the wealthiest supermodels in the world. you should just keep this city. yes. the capital one cash rewards card gives you a 50% annual bonus. and everyone, but her... likes 50% more cash. but, i have an idea. do you want a princess dress? yes how about some cupcakes? yes lollipop? yes! do you want an etch a sketch? yes! do you want 50% more cash? no you got talent. [ male announcer ] the capital one cash rewards card. with a 50% annual cash bonus it's the card for people who like more cash. what's in your wallet? i usually say that.

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♪ gerri: well, high-priced,

marketed to sub prime borrowers, people without a lot of money. focus tonight, talking about that cards. now, slew of card issuers are marketing these consumer traps to the wealthy. here to break it down, consumer education president for smart credit. welcome back to the show. why sell these to overly wealthy people? >> well, it is a segment of the market that has been relatively untapped for prepaid debit cards. essentially what they're doing is going from the hon bank or under banks to the left -- less sophisticated and now the last piece hiding under the rock is the more fluent and savvy consumer that will make more money. gerri: had dirty little secret that americans love these things, but not for any good reason i can find. i guess if you're really wealthy and want to pay all those fees you can. i think you're starting to find that some of these cards they are being forced to drop he's. >> yeah. and the good news is, if you

want to call it good news. i guess it is more of a subtle lining and good news, but these things are coming out of the woodwork. every month some new card is being created in some celebrity is selling his soul to the devil and having his name associated with it. and what that does, jerry, you know, it creates competition. some of these newer cards, while they're still not good products, the pricing is definitely more competitive. had we had this conversation the year ago there would have been extreme overpricing. >> well, -- gerri: well, they must have a promotional budget for this that would fund the war in afghanistan for the next two years. no recurring fees. is that how you say it? adelle 95. the chase card has $4.95 feet. you know, do you think that people who are fluent are smart enough to see through this? >> i think you make a very good point not only about the marketing budget. the smells like a huge margin.

but, you're right. i'm not sure how clever this was to spend a lot of dough going out to the more affluent and therefore the savvier spender and personal finance user. the issue with these cards is that they're not as good an alternative as even just a simple gift for that you can go by at the mall for dollar and that has no reoccurring fee. certainly credit cards, it's not your money. someone else's money. prepaid cards are your money, and i've heard what i think is probably the most disingenuous comment about why these cards are getting more popular by the american bankers association. they said -- i'm not going to get it exactly right. the momentum and driving force behind these products is that they are exciting. i could guarantee, there is not want to sylmar, there is not one consumer in this country that thinks that prepaid debit cards are exciting. that is a joke. i would have intimately more perspective the come out and say, the reason we are pushing

ahead of these is because they are enormously profitable, loaded with fees. we can market them, and there is no cap on interchange where there are dealing with that right now. gerri: is it also the fact that there would rather have fewer bank accounts? let's face it. it is really expensive for them to run all those accounts? >> that is a very good point. it is an alternative revenue source to the traditional relationships that we had with banks. all these new -- all the new rules and legislation, if you love it or hate it, it doesn't matter. the fact is, and they're right, it makes it more expensive to be a bank. they have to figure out otherwise it -- other ways to monetize the consumer. i am really scared what we will see in 12 months. gerri: wow. that means we have to have you back. thank you for lifting the curtains. always showing us what is going on in the background. we appreciate it. thank you. >> you bet. gerri: and speaking of wealthy, combine beauty and hard work and the money is sure to follow.

in tonight's top five, the wealthiest supermodels on the planet. coming in a number five, christie brinkley. nearly every major magazine covers. she has earned -- that has earned her an estimated net worth of $80 million. tayra banks, the first african-american to appear solo on sports illustrated swimsuit cover, and the master of all trades, worth an estimated 90 million. number three, cindy crawford, her iconic vanity fair cover and it appearance in playboy. this model left the runway in 2000. nash's work hundred millions. number two, victoria's secret angel and wife of the new england patriots quarterback tom brady is worth $250 million. that is one with the -- of the household. the number one wealthiest supermodel in the world is, did you think of that? kathy ireland. he probably did not. over 40 tv shows combined with

the billion dollar empire tapping the list were $350 million. you go, grope. we'll be right back with my "2 cents more" and our answer to the question of the date. as the electoral college outdated? stay with us. ♪ hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios [ male announcer ] to hold a patent that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. to hold over 80,000... well, that would make you... the creato of the 2012 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. ♪ join mercedes-benz usa on facebook for the best summer sweepstakes.

gerri: a new poll says that mitt romney will win with more than 300 electoral votes. these guys in their pool are bringing us to our question of the day. is the electoral college updated? it is totally outdated. just another way that the powers that be make sure that real voters don't matter.

another viewer agreed with him. get with the times already. jimmy writes the guesstimate the electoral college is outdated. we should vote by county is so they're not big cities could make decisions for states. we asked on gerriwillis.com. 46% said yes, and 54% said no. david from california says harry reid says the burden of proof is on mitt romney should sure that he paid his taxes. this is america, and that's what? you are innocent until proven guilty. that puts the burden of proof on harry reid and not mitt romney. and it doesn't the irs pursue federal employees that don't pay their taxes? will prosecutors not felt charges? my are these tax cheats allow to

continue employment? charlie from pennsylvania says i love that you take on republican hustlers as well as democrats. keep on the bipartisan persona red congress is intent and content incompetence and waste of our time. i thank you for that. send an e-mail to gerri@foxbussiness.com. we all know washington is a small town, but sometimes it seems tiny. according to the ap, wall street executive who performed an independent review exonerated the obama administration and their energy loan program, it is now a major obama campaign contributors. the former ceo of fannie mae testified before congress that the deal he was not at high risk in more than $23 million awarded the green companies. he testified that he was an independent watchdog. two weeks later, allison began giving money to the oba