at chicago's teachers strike it's all about the kids and the students. anthony said to us, why do teachers strike during the school year? why can't they strike in july if it is really for the kids. that is it for us tonight. ending on a perfect question. good night york. neil: by now you have relive the day, just as you have every anniversary day since that day. the moment of silence at 8:46 a.m. for when the first plane hit the world trade center. seventeen minutes later, the second plane hit the south tower. a little more than a half-hour after that, silence again for the plane that hit the pentagon. still another moment of silence a half-hour after that, for the passengers and crewmembers aboard flight 93 when their plane crashed into a pennsylvania field. it is a timeline that we know all too well. a day even 11 years out we cannot forget.

welcome, everyone, this is neil cavuto. this very hour 11 years ago tonight, george w. bush was minutes away from addressing this nation and the unspeakable acts of terror. that we would stand together to win the war against terrorism. nothing would ever be the same that day. it would forever defined the bush presidency and this country that had not known an attack on its own soil in nearly one century. it was numbing. for an economy and our markets, it was humbling. trading would not resume for nearly another week. and when it did, in the bastion of american capitalism, hundreds of billions of dollars in capital loss. markets melting, stocks falling. the worst was yet to come. things got tough, the war on terror got tougher.

this economy, thought to be headed towards a depression, ended up defining a capitalism that is self defined. within months, the economy resounding in the consumer returning. markets recovering. in the end, an incredible testament to the sheer will of americans refuse to give up and a reminder to those 11 years later who say that this country's best days are gone. we refuse to believe that done. so i suspect these far less financial inflows that we face today should shake us now. the sons and daughters of the greatest generation. they shared their dna.

we share their dna. it is in our blood to be bold. we all went to those who sacrificed their blood not to be babies. they deserve better. so let's be better. let's do better. to the guy who got our markets up and running only days after those attacks, and refused to say we cannot, no, it's not possible -- former new york stock exchange chairman richard grasso. >> it is always special to be with you on this solemn day. let us pause for a moment and remember those 343 new york city firefighters, 23 new york city police officers, 37 port authority police officers, from whom as you stated, ran up the stairs. thirty-five to 40,000 people, so they could be able to go down

the stairs and be saved that day. we owed them the responsibility of making this a better country because of their sacrifice. neil: when we think about what was going on beyond this horrific loss of life, american capitalism was targeted and you were the guy in charge of trying to bring it back. you are the guy that told me that you're never your sense that a lot of folks were telling me 16 days later, we are not ready. why did you say we have to do this? >> the resumption of trading in all of our markets was a signal and assign, the terrorists had killed thousands of people. destroyed billions in property. but when that bell rang on monday the 17th of september, it basically said to them, you have failed.

the american way of life has overcome once again. neil: but you knew that we would be in a battering. up or down wasn't the issue, that you are up-and-coming? >> it was up and running. the pulse of americans economic engines had restarted and we were going to build from there, and remember, we were down 6% that day. significantly. but less than one third of what i experienced on the 19th of october 1987. we were a single unified industry never before and never since has there been two bloodsport competitors taking off their goldman sachs and morgan stanley jerseys and saying we are all americans. neil: i do remember there were a

lot of folks on the internet bubble was bursting and the recession was just taking hold. this was sort of going to be the knockout blow. and i remember saying at the time, i do not buy that. you are looking at the same stock prices i was looking at. so either dick grasso is smoking something or he is stepping back and seeing something i'm missing. what was the? >> let me say for the record that dick grasso was not smoking anything. okay. neil: were you drinking something? >> perhaps. [laughter] >> in my career, i experienced the dow at 574. and i experienced the dow up 13,000 the one thing that is so special about this country is the free market process and the allocation of capital to build

industries, companies, create, if you will, higher standards of living. not all comes from what happens at 11 wall street. 111 wall street stocks, we have to move heaven and earth to restarted. we had tens of thousands of people from horizon from the industry and we were all under water under their. >> that you are advised to delay it because maybe time would heal selling wounds and we could move on. you opted not -- and i've always wondered -- i know you touched on it. wouldn't that have been the wiser course for now? >> no, because the longer that you stay close, perhaps the greater the bubble and the greater me market reaction when you ring the bell to open. so you have to balance. listen, the morning of the 12th, i could've opened.

terrific damage around us to the telecommunications, data processing capabilities, but there was no physical damage to the new york stock exchange. the absolute primary goal, wednesday, thursday, and friday, was searched and hopefully rescue what we had originally believed hundreds and thousands of people. it dwindled and swindled. the morale was in a sinkhole. fortunately, the president came here and gave a stirring speech with the firemen under his arm. neil: why can't we get that tender spirit, by comparison, it is minor to what we were facing at the time. why can't we get that same thing back. >> partisanship over patriotism.

in this country we have got to come to a point and say to the people whom we sent to washington, knock it off. you are an american first, you are a democrat and a republican second. this country needs you to act in a patriotic and not a partisan way. neil: good call, sir. it was a pleasure covering you before all this and many are sense. >> thank you, neil. god bless god bless all the people we lost in all of our troops. >> he said at the time we should all keep this in mind. financial capital we can always get back. but the human capital we lost that day, we never will. people forget this day 11 years ago. but it was also starting out that way. rudy giuliani was also starting out. michael bloomberg was spending a lot of money to wake his way in. then the lame duck man became america's men and changed our definition of crisis leadership.

rudy giuliani here in 30 seconds. >> if want to try to crack it? yeah, that's the way to do it!

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neil: a new poll shows that people would rather have president obama over for dinner than mitt romney. dinner than mitt romney. the summit did we learn that small businesses are choking on regulations, saying that while the problem is that big government red tape. david asman says with all these regulations from the president might want to forget about these problems for small banks. >> book, the fact is, i think a lot of you are talking about polls. i think a lot of these polls are skewed right now towards the president. they are being put out there by those who want president obama to succeed. folks in government or those who

benefit from president obama and his overregulation of things. the fact is it's not a machiavelli. they live inside the beltway. you know how people are influenced in the ways by which they live. i grew up in washington and what they really believe, first of all, housing -- [talking over each other] [talking over each other] >> well, i think the president did get a little bit of a bounce, but i think it is overseer and saying that the bottom line, whether pollsters or reporters, due mostly live inside this fantasy world of the beltway where property prices have held their own and everybody has a job and everything -- everything that the president sees me doing is working inside the beltway. but they don't get outside the beltway often upgrade they don't talk to small businesses often enough. they don't talk to us about

these regulations before they implement. they really think that implementing regulations means that it will have an effect. for example, the president during the convention was talking about how now, because of new regulations, cars will get twice the mileage they did before. that is not necessarily true. they issued a regulation mandating the car seat is great but there is no proof that it will actually work. they have all these regulations about finances and financial regulation suggesting that these will prevent a financial crisis. anybody who covered financial markets doesn't think there will be another financial crisis remapped. neil: they have and are increasing rapidly under this president. >> of course they are because that's the way they think the world works best. they think that if you have enough regulations, you can make the world perfect. and you cannot. they live inside a community. washington dc, where it seems to be so. an artificial community pumped up by all those dollars. in the real world, they realize

that this one-size-fits-all approach to regulations, whether it is obamacare or work rules, it doesn't work. the beauty of america is the diversity of the business community. the diversity of the work world. these one-size-fits-all regulations don't solve all problems. but they think that they do. and that is, you know, that is their world, but it's not the real world. >> all right, it is a safe bet and you know, it could happen. neil: david asman, thank you very much. a smart guy. mr. president, i know the name of eight princesses. i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own.

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neil: are fox financial flash. only 3.7 million jobs were open in july. that is down from the prior month and it doesn't look like things are getting any better. most companies are not planning to add workers this year. they are blaming the gridlock in washington and uncertainty over the election. american airlines pilots will turn their song. starting to give apple ipods to pilots this month. the ipods will contain technical information like manuals and regulations. imagine if that puppy goes down. anyway, ipods are ready to take flight and the new iphone skirt takeover the economy. chief economists saying that apple could sell 8 million of

these if the economy is only growing about 2%, a the quarterback could be a big boost. a formal apple ceo says the company keeps soaring. >> is great to see you. neil: i couldn't believe those numbers when i saw them. it is doable. you sell that many phones, 400 or $500 a pop. >> well, you know, i'm on the board of at&t and that has been a strong program. we have been seeing some impressive numbers. neil: do you own apple stock? >> no, not anymore.

>> do think it has had an uncanny and incredible too good for real run? >> if you look at the multiples, it is justified. the stock price is justified. candidly, i think they probably have four or five years of stuff in the pipeline and i think that that is no reason it will change for a while. >> i am curious, stepping back from it, perfection into this company. i'm wondering whether that is different than the apple that you left today is different than the apple that you will be five years from today. in regards to the phone, in this case, what do think? >> ultimately, people make

mistakes and businesses will make mistake. what i think apple has done differently since i started and steve succeeded me, it was staying focused. and the old days of apple, everyone had something different. and it was a nightmare. when i came in, i basically told them that are five things that i want to work on. if you're not working on those five things, stop and get working on that side of things. that broader focus to the company that is very critical in the ultimate turnaround. >> they become a vital part of your life. whether we are talking of the iphone or the ipad. neil: have or even steve jobs? >> we were different people, but we had mutual respect. i have to tell you that steve

was coming in and it was clear that he was going to be part of the team and so forth. it wasn't clear, in fact, i sort of had to have that figured out. he said in a private moment, he said what you have done in the last couple of years, it is something i couldn't have done. you did a great job. and i was totally surprised by that because that's not something steve usually said. and i turned around and said that i can't do the job you're going to do. and that was also true. i think there was a mutual respect, although we were two very different people. i am a phd scientist. i tend to be much more modest. i'm not a rock star. steve was all of the other things. i am conservative and steve is liberal. and so we had this. neil: would you have been aggressive at suing the same song company and all these others -- steve jobs was very

much concerned about companies ripping off a lot. >> i would have done the same thing. now, the unintended consequences, frankly, we have to protect intellectual property and invent new things. if we don't protect the value of their inventions, what does that say about the future of our business? america invents the future. the one thing we do not want to do is turn up. neil: thank you very much. what steve jobs did, it would not have been possible without getting things organized and getting it launched. that is a fact. meanwhile, 11 years after they used their own planes to kill us, do you think they can do it again? think again. >> there is no better way to honor the best in those that

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neil: full throttle. they still have this thing with planes. we are not over this. we have not beaten us. this whole terrorist thing trying to kill us. eleven years ago they didn't fail. let's not forget that. and let's not forget this.

let's make them afraid and make us afraid, afraid to fly airplanes. the countless cities that have seen for themselves. in london and madrid and mumbai and countless smaller cities in between. we often forget that because it is real and constant.

it is all about making sure that we don't die when we travel. well, very good to have you, sir. thank you. you tell me over the years about every time we were stopping a bad guy, you reminded me, how did the bad guy get guy get that far into it on a plane with the shoe in the underwear? what happens? could you first tell me what the fixation is with airplanes still? >> first of all, looking at the historical evidence. why did the united states have

another pearl harbor? we were fighting the battle. otherwise the japanese would have attacked in general and san diego. anything care for 9/11. neil: what you think of that? are we just emphasizing the wrong thing? >> the terrorists also look at our system of communication. we look at what is vulnerable. it will continue to be

airplanes. that doesn't mean they won't target metros or trains or other types of transportation. we have seen that we have been trying to look at other airplanes. >> they have looked at trains in madrid. we have looked at transportation beyond planes, but here, by and large, planes. do you fear that bad switches that? >> they are going to choose not always planes or trains, but wherever there is a large mass of passengers taking one kind of traveling system. neil: do think something along the magnitude of 9/11 could

happen again? >> i am not thinking that about a group of 19, 20, or 30 coming from abroad. i am concerned about homegrown jihadist. more inside the united states. something close to 9/11 but maybe not identical to the one thank you very much. we find it kind of scary, but a we find it kind of scary, but a reminder that it's history.

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neil: you know, all this time i thought it was the kids that were the victims of the chicago teachers strike. leave it to "the new york times", specifically the teachers unions, the times headline says it all in the latest scandal. unions under siege.

that even had to get your attention. >> it did, it did two. neil: do you think they are under siege? >> they are not popular in america today. my difficulty with this strike in chicago is i think it is not the right strike and that's not the right side of the right time. and i think it's going to do more damage for a lot of unions but it's going to do good. >> richard trumka, the ceo, talk to him at the convention. one of the things he did tell me was we have to pick and choose our battles carefully. i don't think you are. i think you have a policy that is hurting. >> i thought the interview was interesting and i saw it. that is exactly the problem. you know that i am a supporter of the concept of unions.

>> you have a great sense of humor. you are very smart. >> listen, there is a lot of rehabilitation has to be done. i think that richard trumka knows that. i even think that the president of the parent unit of this union knows that. >> i think rahm emanuel notes that and explain this to his advantage in chicago. >> rahm emanuel wants good education in chicago. the teachers have some grievances. there is no question. nothing ever goes smoothly. but you have to pick these fights at the right time. >> do you think this is their sister soldier moment to take on a vital base and be willing to risk taking them all? >> well, where else are they going to go? look at what the job is. he is the mayor of chicago.

neil: andrew, was in new york, trying to get tough. >> i think he is not being a democrat. he is not being a politician. he is being a parent in chicago who wants to see a good education. >> i do believe that, absolutely. >> we all want that. now, you are saying that the end result of this would be what? play the scenario out and the union wanted everything at once. >> so from there, what what happens? >> my fears at the end result could be very serious across the country. as i said, unions are very much under attack. this is a public employee union. we know that this is not very popular right now. the private union sector is almost nonexistent. the only thing left is the public employee unions. what the teachers union has to do is clean our house, queen of some of the problems that they

have, get rid of these things were teachers get to stay even though nobody likes them. i don't care what you are, nobody likes that. they have to solve these problems themselves. when they do that, they will be in the position to stand up and get the support of the american public. they are not in a position right now. neil: always very good to see you, my friend. there was a time we had more important details of life. time for rudy giuliani to bring us all back to

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neil: we have former mayor rudy giuliani. on september 11, everything changed. not only the remaining days you're in office, but what you can do and who you can help and what a difference you can make while you're in that office. eleven years ago, rudy giuliani forever proved that you can do and you can help a lot. the man who instantly became a america's mayor. mayor, thank you. >> good to be with you. neil: our crew was talking about you when remembering that day. and i just remember how calm you say. i know that reporting it i

wasn't even calm. how did you do that? >> is in excess of well. you say to yourself, i'm not going to do this and let these things get to me. i'm going to remain calm and cool. my father taught me the if you're ever in a fire, become calm. if you're not calm, pretend you're calm. the only way you will see yourself through it is by remaining calm. i have been through a lot of emergencies up to that point. nothing like that, but a lot of plane crashes and train derailment in hostage situations so i had an experience with it. and this really challenged it. particularly finding out about my good friend being told that my friend doug was that. >> we were trapped for 20 or 25 minutes in the building. when we got out, we weren't sure.

debris was coming down all around us. i just kept saying to myself, when they said that father judge was dead, that's your first victim that was discovered -- i just said, i'm all alone now. he was the one who helped me explain it. then i said, well, i didn't think about that now, have to think about father james tonight. i can't think about him at this minute. as those things hit me, where if i was just a normal person and you call me up and told me that my good friend just died, i would spend the next two weeks going to the wake. and i didn't have the luxury to do that. >> you can see yourself as above and how you get home tonight. this is all you are concerned

and all your worry. so i'm going to act like a big elder statesman here and have these people tell you where to go and what to do. he took over at all. >> one of the criticisms is that i was a micromanager. >> that is the only way i could do it. i think the mayor has to be hands on. a mayor is different than governor or president. i was in jerusalem once. there was a big demonstration going on. maybe it was part of the priest process or whatever. this is after a bombing in israel. he and i just laughed at each other. neil: everyday something would be changing. you have to lock down the city, something you have to do later on, there was a milder lockdown and another threat. there was a legitimate concern about everyone wanting to get out. there were people really feeling

dicey. >> i think one of the things people don't remember is from the moment it happened, one of the great concerns was what is the next step. we were first told there were seven planes unaccounted for. i expected one or two more would hit new york city. we tried to get the police to that area and we tried to make sure that we have air support. neil: would he think were the other targets? >> we had an entire list. the number one target at the time was the stock exchange. probably on our priority list that was number one. the statue of liberty, the empire state building, grand central station, so we started worrying about those places. and we thought maybe there would be a group of suicide bombers and this was a trigger to a lot of islamic extremist agents so we close down. my police commissioner at the

time close down the tunnels. he wouldn't allow any more people in washington dc. we did one more terrorist taking in. whatever we had in new york city, we wanted to contain. we didn't want any more sinking in. a lot of the concerns was what is going to happen next. and then when anthrax happened, almost a month later, we were sure it was another terrorist attack. neil: did you think that we were at war? >> the pentagon, did you think this is out of control? >> as i was rushing down to the scene, i passed st. vincent hospital. before i even knew about the second plane. i saw all the doctors and nurses on the street and the stretchers out on the street. it looked like a war zone to for me. it looked like what happens near a battle when you set up a field hospital. and i said, my god, it's like we

are at war. then the second plane hit and with the first building coming down, i thought i was in the middle of an atomic war. this was like a white cloud going through the streets, carrying debris, and we were at war. they declared war on us long before september 11. it took us september 11 to figure out we were at war. then, some parts of our country or government think that the war is over. this is news for them. nobody told the terrorists that. neil: people forget how patient he says that. >> they are at war with us. we have to recognize it that and we have to be alert to it. you know, in some ways, we are safer now and in some ways we are not -- like in iran, we could be worse. >> the $40 billion we spent on homeland security.

$40 billion. >> since i don't get to analyze how we spend it, if you are asking me should we spend a lot of money on homeland security, the answer is yes. always and in every part of it correctly, i think we have improved our airport security really very well. that is a little bit of where we are always playing up the last attack. we are very worried about the ports. we don't think we have done a good job with the ports. we have had 40 times the least because of good intelligence in a couple cases, we have done while. we stopped the one on christmas day a few years ago. so i really worry about something like that happening. my biggest worry is what keeps me up is iran becoming nuclear.

and it is not just missiles, which is what we keep writing and arguing about. they're going to attack saudi arabia, whatever. my worry is they are going to hand nuclear material off the terrorists, they are presently supplying. they are presently the biggest state sponsor of terrorists. we know and we fear that they are supplying façade bashar al-assad to kill all those people. if they are supplying armaments now and they have nuclear material, why not give some of us to the terrorists heard attack new york and los angeles and then just lie about it. neil: rudy giuliani, thank you for coming. we are in a lot better shape because of this man. what

4g lte has the fastest speeds. so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.

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you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman. [ male announcer ] humana. neil: 11 years. it is hard to believe. 11 years. reading the names. stark images played again. each year we go through this and i am reminded by this. nearly 3,000 people who never made it who missed out. think about that. 11 christmas mornings and they never saw. thanksgiving dinners they never shared. summers they could not see their kids play baseball.

the mom never made her son's high school graduation or what he learned from her and about victorian speech. the brother who never got to see the yankees win the world series with his brother. this sudden who never knew his dad. the dad who never at saw his seven. celebrating 11 birthdays without a parent. 11 seasons without a coach. precious memories that never were for so many families. we forget to in a moment it is not the moment but the moments that are steeled. a daughter's first visit in the tooth fairy and the

first acceptance letter from a college. hearing your son say daddy for the first time and the other one say can i borrow the car keys. little things are big things when you realize it is almost everything. and you tried to get by. 11 years later you are not quite there. never forget what these families are without. their only fault was showing up for work or grabbing a bite. it makes it so senseless. 11 years later socs the need for so many.