Skip to main content

tv   The Willis Report  FOX Business  November 5, 2012 9:00pm-10:00pm EST

9:00 pm
5:00 p.m. with stuart varney. we have lou dobbs and then me with all of these fine gentlemen and ladies throughout the night. sometime next year. >> off to columbus ohio and finally manchester new hampshire before heading back to ohio for tomorrow.
9:01 pm
meanwhile, rock legend bruce springsteen joining president obama at a rally in wisconsin. spending the final day of the presidential campaign travelling on air force one with the president. obama is going from madison, wisconsin to columbus, ohio where he will only be 7 miles away from romney. after that ousted the morning to my well before settling in illinois where you will sit out the election there with his family. he has no public events scheduled for tomorrow. with more on the last day of campaigning joining me now, doug holds egan, president of the american action form and former ceo director. coast of the five on fox news and ed rollins, but republican strategist and fox news into bitter. i want to start with you. you have so much experience with these campaigns. we have been watching all of these myriad polls which don't give us a clue as to who will win tomorrow. big question now, who has the momentum. who do you think has the
9:02 pm
momentum? >> and romney has it back. he lost last week when sandy came into our lives. governor christie put his arms around the president before we jump on an airplane and flew off to las vegas for a fund-raiser. i think it is kind of caught back up again and be looking hard at the four years and not for ours. moving toward them. gerri: we have an old saying on wall street. traders talk their buck. that is what is going on with the campaign when i talk to the media. they're all saying that the canada is going to win. it's not clear. can you believe a word coming out of the mouths of these people who work for the campaign's? they both can win. >> that is absolutely right. and i do sympathize with the press team a little bit because i used to do that job. remember having to go out, but
9:03 pm
under game face, make sure you look good, lipstick on. the only poll that matters is the one that happens tomorrow. i really do think that the romney people inside feel very, very good. think about this. his base is energized. his base has been energized. independence seemed to be breaking cramp. president obama has a problem with his base. that is what he has been focused on, making sure they turn out the way they did in 2008. to the obama campaign is a bit more nervous. take what they say with a triple helping of salt and may be what romney says with a single helping. gerri: but, you know, you listen to what the obama campaign was saying. they say that the fact that romney will stay on the campaign trail tomorrow, election day, signals weakness that they are worried. how do you read that? >> well, as you say, they are talking their buck. they, of course to have a big need to. they have lost the momentum. there was a good thing when sandy came through.
9:04 pm
every day the president is not talking about the economy, the debt, and his record is a good day for the president. we're back to those topics. we are seeing the map expand for governor romney late in the game. the fact that he is in pennsylvania. 30,000 people outside philadelphia, a lot of momentum. the same is true with minnesota. i don't think it is an act of weakness. i think it is an act of trying to lock down what will be a big upset when. gerri: you know, somebody today wrote that in the wake of san the new jersey and new york were a cold katrina. i believe that it was -- yes. i thought that was a fantastic ." but now, really, all eyes, and i want you to get to this, and ohio. everybody is wondering what will happen in ohio. people thinking seriously about where the southern part of the state will go, where the northern part of the state will go. can run the capture the areas that are largely coal producing? when you look at ohio, what
9:05 pm
counties will you be watching. >> well, rather than counties, three big cities in the counties around them. one is cleveland, which the democratic stronghold. obviously columbus and cincinnati, which is more republican. at the end of the day your this is a state that has a tendency to switch. you have to remember that governor casey won this in the closing days two years ago, the governorship. george w. bush won the presidency back again in 2004. it is the bellwether. it's not just -- everybody wants to say, no republican has ever won. well, no democrat either. kennedy lost an extent -- nixon in 1960, but otherwise it is a bellwether state. my sense is if romney is going to win the presidency he might as well start right there and do a quick. gerri: ohio, critically important. are there other states, other counties, other areas the you are watching intensively over the next 24 hours?
9:06 pm
>> i will be watching my home state of pennsylvania to bucks county. where mitt romney was yesterday. a large district, suburban district. early on we will get the results from pennsylvania. hopefully first. see where the voters are breaking. three others i would watch for. to others, i'm sorry. enrico county in virginia is one that bush won by eight points in 2004. obama, it flipped for him. he won by 66 over mccain's 44. brown county in wisconsin, this one went for obama. previously voted president bush into president of this in 2000 and 2004. would county in ohio is the one that has picked a president since 1980. those are three others. gerri: i have to ask you a different question. the president on the campaign trail talking about his record on debt and deficit. really? i mean, i was shocked to hear
9:07 pm
this. a. >> well, it is shocking. his record is real clear. the first president to run four consecutive trillion dollar deficits. he put out for budgets in a row that did not attain the debt problem. so there was never a plan in place to put on the big spending programs, medicare, medicaid, and he added and new entitlement with the affordable care act. that is not a good place for him to go. he kicked aside the balsams and commission pretty famously. he does not have a big difference in that area. gerri: no kidding. i agree. we have the best panel in politics. stick around for another block. up next, how the nor'easter bring along the coast could be the october surprise for mitt romney. stay with us. these fellas used capital one venture miles
9:08 pm
9:09 pm
for a golf getaway. double miles you can actually use... but mr. single miles can't join his friends because he's getting hit with blackouts. shame on you. now he's stuck in a miniature nightmare. oh, thank you. but, with e capital one venture card... you can fly any airline, any flight, any time. double miles you can actually use. what's in your wallet? alec jr? it was a gift.
9:10 pm
with the fidelity stock screener, u can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stks you want to follow. i'm mark allen of fidely investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪
9:11 pm
♪ gerri: parts of the east coast pummeled last week by superstars sandy bracing for another potentially damaging storm. forecasters say it could bring winds up to 55 miles-per-hour ms and more coastal flooding.. the storm will also make voting tomorrow tricky in florida.for l let's bring in janice dean attem the fox weather center. great to have you with us with . >> thanks. i wish i could bring eat better news. just dealing with such an impact from sandy. millions without power. we are hopin that neighbors get together to really help the folks that are in need, because teeratures are below freezing tonight. we will be dealing with another storm. let's start off with election day. not much to talk about. the potential for showers, maybe some snow, just snow shows across the midwest. not an organized system, and then or watching the development of this nor'easter of the east
9:12 pm
coast, the southeast coast line. we will see light showers across georgia, south carolina, and north carolina. nothing to organized until we get into wednesday. election forecast looks good. you will watch this developing system that will eventually go up in effect is in the northeast. a few showers, and/or snow showers for the upper midwest and great lakes. west coast looks really good. we could see a few spattered showers across the northwest. otherwise no reason to get out and vote. less talk about this nor'easter. wednesday through thursday overnight were talking about rain heavier times. coastal flooding four very vulnerable areas. when the dust 60 miles-per-hour. snow for the mountains and interior sections and then beach erosion is. a lot of these parents have just been blown out to sea, so to speak. not a lot of protection. there is your future radar. starting to really wind up wednesday into thursday. just brushing along the coast. the worst of the weather coming
9:13 pm
wednesday evening into the overnight and into thursday. look at these wind gusts. one of our computer models as we go further out in time. forty, 50, 60 miles-per-hour battering this very vulerable coastline. the last thing these folks need to see heading into the midweek. back to you. gerri: thank you for that. it's going to be rushed if we have another big storm. thank you for that report. well, if the weather does get bad and it does get raining in the east coast, that could be good news for republican candidates. according to the journal of politics, for every 1 inch increase in rain above alexian than normal republin presidential candidates receive an extra two and a half percent of the low. it's totally scientific. all right. how big of a factor could weather play in the voter turnout? will superstar sandy be a fact? back with me now, former cbo director. co-host of the five. ed rollins, republin strategist. to you.
9:14 pm
pele make big, big issues out of the small things. whether really can play a role. i'm wondering what you think of say. how the people read the storm and the reaction to the storm? >> i don't think in the end this anti will have a big impact on the presidential election. people, think of us on the present doing his job. not much more. it did not move independence, and i don't think by and large this point to affect turnout, which is key. whether will matter, and the one place where sandy will matter, now that i think about it. there are a couple of districts, one in new yor one in new jersey where the coastal parts and the interior parts differ. in new york city is a very liberal coast with a more conservative interior. new jersey is the reverse. if you cannot go easily, places where sandy has badly damaged the coast, it could affect the outcome of those congressional races. gerri: to you agree? do you think weather we will
9:15 pm
play a role? are we overestimated the impact of any nor'easter that follows? >> weather in general, i think, does play a role. when you're working on the campaign if you're a republican enthusiasm is in your favor the kind of your little bit of rain dance because republican voters are known to show up at the polls. they get out in snow, hail, sleek. they're typically the ones that show up and vote. that would actually, i think, hurt president obama. he has been trying to give voters out, even on a perfectly sunny day. as far s&p, at the congressional races are the races at are going to be most affected, but nationally i don't think sandy play a role. it hit to lose states, but i don't think it will move the kneele. gerri: we talked a little bit earlier about momentum in the campaign. you has it. of course, the obama campaign says they have the momentum. they say they have a lead in early voting in many
9:16 pm
battlegroundstates. they put up this this afternoon. a leading in ohio. a 24-point lead where almost 30 percent of voters cast early ballots. now, can we hang our hat on that information? what would it mean for the race if it were true? >> it's going to mean nothing on wednesday when they have lost the state. at the end of the day, there are two formulas that both of these campaigns firmly believe that s there a formula to victory. one has to be wrong. both will argue, and no players on both sides. good operatives. but they are convinced they're both point to go over 300 electoral votes. one model is wrong. my sse is that the bama model, which is try and get a brand new voters out to vote or intensify the young voters who voted for him for years ago the law no longer intends is their model. our model is to give senior citizens, intends voters, republicans, the born-again
9:17 pm
christian element of our party, very intense. gone from being an anti obama voters to approve romney voter in theast 30 days,and that's much easier and much more intense. gerri: tweet talk abut every election being important. i've never heard anybody say a presidential election is not. it seems to me there is a lot stake. how important is this? >> from a purely policy matter this is a very important election. it is inevitable the next president will have to undertake fundamental tax reforms, a fundamental anti among reforms and put the united states on a sustainable budget trajectory or we will have a crisis that is worse, we went through in 2008. those are things the president must do, and there are very different visions for how that it's done. from the talks about a comprehensive tax reform on both the individual and corporate side that brings us into alignment with our international competitors. the president wants to raise taxes on individuals and has not said much about how corprate reform does not add up in the
9:18 pm
same weight entitlement reform, you know, romney and ryan have talked about medicare, medicaid. very specific plans. the president wants the status quo which will be sustainable. we don't rally know exactly where the president will be, but he has not put out any plan, and we know what governor romney will do. these are big issues. gerri: i'm not sure the president actually wants the status quo. i think he has bigger plans for bigger programs. i was looking at some numbers this afternoon. we have about $51,000 in debt for each taxpayer. median incomes are lower than that. we are clearly spending more than we're taking in when it comes to the federal government. how sustainable is this and how important is the selection? >> it is not sustainable and all. i would say that i think as far as cutting spending goes, someone like paul ryan, being in the white house, much better bet that having will have have the last four years.
9:19 pm
very serious. of course he and mitt romney but have to corral a congress that does not seem to agree on anything. as we know, both parties think that spending is very seductive, but they have to do something, and that think it is a better bet for mitt romney in paul ryan. i would say entitlements, whoever gets in, romney said he will repeal obamacare. also, don't forget supreme court appointments. we could have two justices stepping down. that would be a huge, huge response ability for the next president. gerri: e, i would give you the last word. what will we be watching for? what will be most telling about how the selection might go? >> early evening, having a lottery ticket. if romney was florida and virginia and north carolin, he's on his life. if he loses any of those three them there is a very long night and the probability is not great gerri: florida, virginia, north carolina. i have my list. abbey watching.
9:20 pm
[talking over each other] gerri: thank you. a great panel. really appreciate your time. well, thank you. have a great night and tomorrow. now we want to know what you think. here is our question. will the presidential election be close or landslide? log on to gerriwillis.com, on the right-hand side of the screen announcing the results of the end of the show. coming up, voting problems already starting in battle ground states of florida. early voting with lines long and frustrating. details. mitt romney has vowed to start getting rid of obamacare on day one of his presidency. i'll ask one of his health care advisers will we should expect next. 4g lte is the fastest. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way,
9:21 pm
does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined. gerri: a flood of hidden regulations set to be an leas
9:22 pm
gerri: a flood of hidden
9:23 pm
and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again.
9:24 pm
♪ gerri: election day, one day away from the future of your health care hang in the balance. obamacare taxes and rules on least after election day, rules that will be permanent if obama wins a second term and will romney, if reelected, repeal obamacare on his first day in office? romney's health care adviser, at least one of them. senior fellow at the manhattan institute joins me now. great to have you on the show. i want to start with helping people understand what is a stake here. let's talk about obamacare by the numbers. first of all,he tax increases. >> hi. so, over $1 trillion in tax increases. overall, the law increases spending of the next ten years by almost $2 trillion according
9:25 pm
to the congressional budget office. cuts medicare by 716 billion, raises taxes by over 1 trillion. gerri: of course we were told that, you know, it would be a wash. in fact and obamacare would not cost taxpayers anything. what happened along the way? >> well, what they did claim was that they would try to make it so that it would not increase the deficit. the problem is, and you had dug holes in on your show who has written about this. the problem is, you know how it is with government programs. they spend more than the poject according to the bureaucrats, and the tax increases generally don't raise as much revenue as people expect. what ends up happening is even though the congressional budget office is projecting that they will raise 1 trillion in taxes and spend 2 trillion, over time what will happen is the spending is likely to be above what the government has projected and the tax renue will be below. gerri: i have never seen it
9:26 pm
happen the other way, where government spending is less than what they anticipated, so i think your on to something. romney's plan. a lot of confusion out there about what mt romney proposes for health care. we saw what he did in massachusetts. he seemed to be proud of it. what can we expect from candidate and president mitt romney if he were to win tomorrow? we will be repealed obamacare on day one? gerri: he will be able to repeal obamacare if he has majority in the senate. feed on the fifth republican senators is going to be a lot harder. that is the important thing. he will do everything he can. there is a lot he can do at the executive branch. setting of the health care exchange. the other thing you can do is have the secretary of health and human services who white is of
9:27 pm
some of the mandates and regulations that will urt businesses, particularly small businesses. make health insurance more expensive. there's a lot you can do, but you won't be able to repeal it with the stroke of a pen. you have to have a congress that will repeal the law. gerri: allowing students to be on their parents' health care. what he struck down some parts of it and t others? >> this has been one of the things that has been overblown. actually, if you talk to any of the insurance companies, they will say, and they said this around the time of the supreme court decision because a lot of people thought the law would go down. they said, if the law goes down to much we will continue to they make money slling these
9:28 pm
policies. clearly popular. families want to have plans were kids up to the age of 26 want to be on them, they will sell those policies. there in the business of selling products that consumers want. that is not a total nonissue. gerri: i appreciate your coming on. you have to come back nd talk to us about health care. i appreciate your time. gerri: my pleasure. of the weather is okay. i'm headed up there. gerri: we will look forward to seeing you there. thanks again. >> thank you for having me. gerri: our pleasure. help for those hit by a superstar and sandy could comee3 from your taxes. and one of the most pivotal states in the nation. one familiar with three counts. florida with attorney-general pam body for a look at how the sons and state is preparing for tomorrow. after already having a tough weekend. stay with us. [ abdul-rashid ] i've been working since i was about 16.
9:29 pm
you know, one job or the other. the moment i could access the tirement plan, i just became firm about it -- you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪
9:30 pm
9:31 pm
9:32 pm
♪ gerri: welcome back to "the willis report," live from massachusetts. 2012 race for the white house could once again hands on the key swing state of florida. both romney and the president made their last campaign stops here in hopes of breaking in the polls. with razor close results, many fear 2012 could be a repeat of the 2003 count. florida attorney general, pam ghandi, joins me with the latest pam, welcome back to the show. great to have you. a lot of people asking some very serious questions tonight about early voting in florida. they say, it is a fiasco and it is raising questio about whether we will see another 2,000 yet again in florida. your response. >> you know what we are focused on?
9:33 pm
winning by a big enough margin where none of that is going to matter. and i have never seen such enthusiasm in my life as i have seen throughout florida. you know, i traveled florida with governor romney, and, paul ryan, and jeb bush has been a huge player, marco reveal is in our state. and i feel so good about flida. we are a red states. gerri: all right. let me ask you this question. just how serious are these early voting problems that people are describing? people want to know how it's going. is it a big issue? something we will have to come back and revisit? is it over blonde? >> well, i can tell you, we have poll watchers have been trained. attorneys are out everywhere. around the team, believe me, they are all over in the issues th could potentially happen. i know in orlando they had to extend the voting hours for more hours because there was a
9:34 pm
suspicious package, and that was fair. poehl said to be closed. other than some issues like that and we will be fine in florida. gerri: all right. everyone is watching early voting all over the place because obama is claiing that he is leading in many states, especially swing states. you say that you feel like florida has momentum for mitt romney, and you were with him just this weekend in west chester, ohio. i have to tell you, i spent many years in westchester. interesting to hear that you were there. what was the crowd like? >> it was unreal. i mean,. [talking over each other] rockpened for mitt romney. those folks were there. they were not there to see kid rock. there were there to see mitt romney. over 30,000 people standing out in the freezing cold weather. we were all there with him. john mccain i mean, , rick santorum, rick perry, rudy guiliani cockade bailey hutchison, derek , te
9:35 pm
champion and olympic skater, i mean, just a whole -- bob macdonald. the great governor of ohio. we just had a great event. the crowd was going -- they were going crazy. it was unbelievable, the support and standing out there and that whether to hear mitt romney. gerri: a critical state and a critical region for the candidate. absolutely true. i have -- i think one of the biggest surprise is the democratic party has done our seniors in florida. a recent poll shows romney with 57 percent of seniors in florida. obama 40% with something that you just could not have predicted because people thought that paul ryan's plan fo dicare, medicaid was going tax absolutely put of seniors. what happened? >> well, they have been spreading their message. all over florida. wonderful everywhere. a senior living in florida.
9:36 pm
$760 billion from the medicare system. and seniors are recognizing that. recognizing what is going to happen. small businesses are recognizing that. anso e are finally getting the true facts out there about how devastating obamacare is, not only to florida, but to the rest of the country. gerri: and i'm sure you will be back soon to talk with us about obamacare. what is going on there. thank you for coming on tonight. always a pleasure to have you on the show. thank you so much. >> thank you. gerri: with the race to the white house so close, tomorrow may not only be a long night, it could go down in history as one of the closest presidential elections of all time. that list is tonight's top five. number five, 1848, this election marks the first time every state in the union voted for presidents on the same date.
9:37 pm
zachary taylor won the popular vote by nearly 5%, but only 36 electoral votes. number four, 2004, the winner was not determined until the followindate when john kerry conceded george w. bush's when. the popular vote by nearly two and a half%. number three, all the way back to 1916. on the brink of world war one, woodrow wilson b. charles use by 23 electoral votes. mo than 3 percent of the popular vote. it is an election most of us will never forget. we remember it well. the election beecher every count votes in florida, as we were just mentioning, and a turn at the supreme court before george w. bush was declared the winner over vice-president al gore. just five electoral votes. gore did when the popular vote by half a percent, and the number one closest presidential race inhistory, you're not pointing guess this from 1876. this was like election 2000,
9:38 pm
only more so. recounts in three states. florida, louisiana, and south carolina. a huge split in th popular vote as samuel tilden, yes, samuel tilden won by 3% of lost the lead for college by one vote to rutherford hayes. remember that? i don't either. let's take a look at the pros and cons. held for those hardest hit by the superstar. they could come in the form of tax deductions. but is this the case with the irs? a lot involved in getting your money. tips on what to do next. gecko (clearing throat)
9:39 pm
9:40 pm
9:41 pm
thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company,
9:42 pm
or geico...as most of you know it. i'm talking hundreds here... and efurthermore.. newcaster: breaking news. the gecko is demanding free pudding. andwith cake! and presents!are actual parties! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. ♪ gerri: residents bracing for yet another storm. many in the new york and new jersey area are still shivering and cleaning up after superstore sandy. more than 100people in ten states have died from the effects of the start, and nearly one-and-a-half million people still without power. the big story continues to be the record -- lines and stations across the region. in new york governor andrew cuomo in an attempt to relieve anxiety over gas shortages announced a plan to give gas away for free.
9:43 pm
but that created the very panicky was trying to discourage lines stretched for miles to get the free gas, and the national guard had to turn people way, even as the emergency response is lacked the resources they needed. the giveaway was canceled. even with rationing put in place in new york and new jersey, you would have to go back to the 70's and the oil embargo to see lines aslong. officials say, once power is restored, the lines will be shorter. at least drivers are not paying too much more for gas. prices have risen $0.3 in new york and $0.7 in new jersey. a small price to pay. disaster relief from the irs. if you or someone you know suffered damages to a home as a result of hurricane sandy, you or they could be eligible for a tax break. for more on a catastrophic tax deduction and joined by managing director of wealth held financial planning. all right. i have heard a big tax deduction for health reasons. if you have a ig hospital bill,
9:44 pm
i mean big. i have never heard of this. what is it into is eligible? >> hi. nice to see you. it's a casualty loss. something that under the irs code, specifically 165 allows you to take an itemized deduction for losses that are incurred as a result of damage or destruction from an event like hurricane sandy. there is a rule, though, that you have to meet with respect to the loss itself. it's only for itemized deductions, those who itemize, not people who take the standard deduction. and so that is one of the limits of. gerri: how big is your loss have to be? i assume they will let me claim it for some small amount. >> it has to be in excess of 10 percent of your adjusted gross income. so far, for instance if your adjusted gross income is $100,000, 10 percent of that is $10,000. your loss is to be in excess, and you only get to write off the loss in excess of that and%. there is a limitation. one thing i think that is
9:45 pm
important, though, is that in the past there have been under disaster relief situations, situations under katrina, wilma, rijeka or that has gone away. they have been able to allow the loss deduction, even if eight is not over 10 percent of your ag i. that has not happened yet. we need legislation, but we might be seen at down the rad. gerri: no doubt abo that. i have to tell you, the thing that i wonder about do when you take this deduction, is it a big red flag to the irs? well, we definitely have to look at this person because does make sure it is everything it should be. well i get audited because i take the deduction? >> in this situation, i am in hoboken. this whole area, i think most of the area has been a disaster area, confirmed by the government. with the amount of filing that will be going in, i don't really think so. we have to make sure that we are not being a pig, not taking the
9:46 pm
loss that is inclusive of the insurance that you will ge for coverage because, of course, the loss will not be inclusive of the insurance. you have to reduce it by the amount received. gerri: you really need to be in an area that has been declare a disaster zone. number one, if you're even thinking about taking this deduction, you have to be able to prove their you deserved it. >> absolutely. you have to be able to production, but in this case, you know, even if you are not in an area considered a disaster under fema, the reality is this is a provision within the tax code that allows you take that loss. test make sure you document. of 44684 whereby you calculate and report a loss. this is not a credit, so it is not a dollar for dollar reduction in taes. it's a reduction. gerri: exactly right. but trying to prove that, obviously i will need some kind of, you know, be able to prove that i had to replace a part of
9:47 pm
my house or might arise or another structure on my property. is it worthwhile to take pictures? >> absolutely. taking pictures is really important. if you have any old receipts @%ke sure you get those. >> taking pictures important. keep resee thees emaybe you can go to company where you purchased the things you lost. maybe refinance, you have a or the gang refinancing the appraisal. if you have taken deducts, maybe that evidenc prior years, priors tax returns from irs. returns from the irs. but absolutely look taken parable's sales. look to real letters. gerri: but they're is a variety sources to go. rich, i have to tell you that is valuable advice for our viewers
9:48 pm
who are in the path of this storm, and could be if the path of the in addition, storm the nexttorm coming this next wk week. details next. seems they haven't been moving much lately. but things are starting to turn around because of business people like you. and regions is here to help. with the experience and service to keep things rolling. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together.
9:49 pm
heartburn symptoms causedelieve by acid reflux disease. osteoporosis-related bone fractures and low magnesium levels ve been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. gerri: it has been one year since
9:50 pm
9:51 pm
>> the one year anniversary of bank transfer day, when when
9:52 pm
bank of america said they would charge customers a $5 fee to access their own money with their debit card, here of my response. >> i'm going to show bank of america just what i think of their fees. i know you are mad too. gerri: bank of america was not only bank that thought about changing such a fee, because much so much public backlash it never went into effect, bank transfer day, soon resulted. but how successful was it let's ask bill cheney, ceo of the credit union nion association, welcome back, how successful was your effort. how many people signed on with credit unions? >> it is great to be with you again. thank you so much, 2.2 million
9:53 pm
people over 12 month period, the latest numbers are for june of 2012, so, it includes time before and after bank transfer day, 2.2 million net new members. gerri: is that more than usual? >> absolutely. to put in perspective average over last 10 years with 1 million a year, 2. who million is mor than double that and the year prior to, that ending june of 2011, 550,000, it is 4 times growth we saw the year before, something happened with bank transfer day and it continues. gerri: i want to show our viewers difference in fees and interests paid between a bank and credit union, we have numbers here, it second tensive, you have noninterest checking, the fees for that minimum balances, on and on. how is this that credit conditions can give consumers,
9:54 pm
in manyases, a better deal than some of the biggest banks in the world it seems kind of, not intuitive that would be the case. >> well we're family different, and -- fundamentally different in a number of different respects but primarily, a credited union is owned by its members and banks are owned by shareholders. we can return our profits to members in form of higher rates on savings, lower rates and loans and lower fees, we estimate that -- >> all right, let me -- we don't have a lot of time, i do want to get to some of the issues that i know our viewers have looking at credit unions, they are worried they will not be able to find a place to go to bank.
9:55 pm
they are concerned about level of technology and support, do i have robust on-line web site like at a big bank. >> i understand that is one of the miless about credit -- myths about credit unions most of part of a national atm network there are several large set of co-op, 30,000 surcharge free across the country. that is more atms than bank of america has, and more than chase has, so, and in additiono that we have 4,000 shared branching locations, your credit union may not have 30,000 atms but have you a access to them surchange free, if you are the member of a credit union, they have on-line banking and on-line bill payment, and at credit unions it is really free, not only free if have you huge balances but free
9:56 pm
for everyone. lou: thank you for coming obill, keep us up-to-date on it. gerri: we're very interested in this topic, thank you so much. >> we will thank you. gerri: we'll be right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we havongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need . it's anotheason more investors are saying... [ all ] i'm with scottrade.
9:57 pm
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. email marketing from constant contact reaches people in a place they're checking every day -- their inbox.
9:58 pm
and it gives youou the tools reate custom emails that drive business. it's just one of the ways constant contact can help you grow your small business. sign up for your free trial today at constantcontact.com/try.
9:59 pm
gerri: finally, get out and vote. it is your solemn duty as an american citizen to vote in a presidential election, and you can't complain later about the winner if you did not bother to cast your bal on the, seriously this may be the most purpose of our lifetime, we are at brink of debt crises that is

174 Views

info Stream Only

Uploaded by TV Archive on