>> yet another example of disability abuse. a new york cop proclaimed he couldn't work because of an arm injury, was arrested on fraud charges after it was discovered he was moonlighting, get this, as a punk rock singer. and flailing his arm around stage and you can see him in the video. he was arrested after collecting more than $31,000 in disability payments over a two year period. this follows the headlines that we brought you yesterday about social security disability. again, we pay americans $260 billion a year for entitlement, that's more than food stamps and welfare combined. and they claim back pain. a fraud investigator, you know, back pain is one of the things hard to prove.

how do you disprove someone, their back doesn't hurt? >> there's many tricks of the trade, but it's very difficult. i was reading this report earlier this morning and it's back pain, mental disorders, that are the cause of this. these programs are necessary for us to have, but it's really bleeding the government. charles: it is bleeding the government. here is the real deal. i know in certain neighborhoods in this country they call it the crazy check and they brag about it. you have grown men, 27, strong, built, ready to go, but they sit on the porch all day long and listen to music because the taxpayers are sending them a check two times a year they've got to walk to the office and say the economy is bad and driving me crazy. i can't think straight. >> i've got to believe that americans want to work. i have to believe that. >> but you're a fraud investigator so you know for a fact that a lot don't want to work. >> and some don't work, but i believe that most americans want to work. and i believe that if we didn't have a problem with the employment right now, there were more jobs available, that people would work.

>> in other words, you think that motivation for some of this fraud is just economic. it's not to say, hey, i'm getting over on the system. i'm lazy. it's the only alternative. >> for some they want to get over, absolutely. >> some people are saying this is the only thing i can do. >> and that's why the number is out of control. >> you talk about out of control. i think from 2011, the beginning of the year, only 1% of people who got on disability, went back to work. i mean, think about that number for a moment. 1%? >> you know what i find strange is, you know, unemployment is counted on a state level with disability on a federal level. so, you know, if there were more people on unemployment versus disability, then we wouldn't have the feel that the economy turned around, the jobs would be coming available and i think there's problem with jobs-- >> the overarching narrative things are getting better based on the numbers is skewed because we have a poor job of counting

how people aren't, they're not in the system and not counted, but human beings in america without a job and therefore, a lot of them feel the need to do this. so you sound conflicted with your job. you sound like you feel not necessarily sorry, but empathy for the people, but you're an investor-- >> our job is to find the bad guys, absolutely. charles: even if they're bad guys for the right reason. >> absolutely. charles: two years i had a friend and double date thing and new girlfriend showed up. as we were leaving, oh, i forgot my cane, what's up? she wasn't hurt, but says she was worried that someone might be watching her because she had been collecting disability for a long time. i mean, has it come to that? >> it has, but it's not a great way to live. you know, you don't want to look over your shoulder every day of your life, you know, could be guys in the bushes with a camera, all it takes when there's a problem. charles: that's not you, you get in the bushes? >> i get in the bushes. charles: climb a tree? you may have to be on

disability. you know, it's just, it really is sort of a conundrum because we're the most generous country in the world and yet, people who are out there working every day at jobs they don't like, that are underpaid, feel like, golly, something's not right when people are abusing the system, no matter how bad it is, now, people who should not be collecting these sort of entitlements, if they really don't deserve them. and that's really the problem, isn't it? because it feels like more and more people collect these without any guilt at all. just this notion that, hey, somehow it's owed to me. >> and i think there's a pride issue involved, too, people would prefer to be on disability even if they're frauding the system than to go on welfare because there's a stigma with the welfare issue, but we have complete towns that were just wiped out with the economy, and oil industry and-- i think they've he resorted to measures they typically wouldn't. charles: and sadly you're going to be a busy guy for a long time.

>> a good thing. charles: good for you, but bad for the economy. i appreciate it. >> thank you. charles: the s&p 500 i don't know if you were watching, came within a hair of the all-time high. we're going to be watching that today and someone who says what's happening in the banks in cyprus is already happening here. the opening bell is next.

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imus: >> well, we're just about a minute away from the opening bell and joining the company now from chicago, trey. and i want to say, we came within a hair of the s&p, and we need the catalyst, what would that be? >> to me, the way the market has been trading, all we need is time. seems every bit of news we've had had a skew to the negative side and i know i'm one person who has been a little skeptical. do i want to try to own equities with valuations here, with the idea that we've got to maintain 13, 14 or 15% earnings growth in order for stocks to be here? however, i'll respect the price action, it's been pretty good. maybe it's a matter of time before we push the old highs. charles: do you think that the buy on dips mentality has gone to such a level, one or two down days, so much money from the sidelines pour in and the other

things you worry about like fundamentals don't matter anymore? >> well, there are some financial sides of the story that are there, backing up a move higher here, but to me, what really, really bothers me is the news out of the europe. guess what that's the largest economic zone in the world and the news continues to get worse and that's going to have a negative impact here at some point. charles: before we let you go. we hear the bell ringing and the first ticks are to the down side. do you think once we clear the s&p 500 we'll continue to take off after the dow broke its all-time high? >> the market moving from here is a possibility. it's going to do it without me, i think we've got a 30% pullback coming, matters from where. might be from s&p up around 1600 before it happens so it might move higher, but without me for now. charles: 30% is a scary haircut. that's why we love you, you give it to us straight. and the opening bell, the big

board, down 50 points, a lot of anxiety beginning to set in here. and also, you think that the item at j.c. penney is on sale. think again. the company is bringing back it's a markup to mark down strategy. that's where t the prices are marked up initially and then put on sale. someone said that would never happen, i think it was ron johnson. wonder what he's saying now? let's find out how the stock is going. are we going to nicole now? >> i'm here. you know, charles, i must have woke up at a very empathetic mood this morning. i was on the treadmill, i was reading about ron johnson going back to the markup to the markdown and i almost said to myself, what is a guy supposed to do, right? he spent the last year trying to be honest and say, i don't want to give you the illusion that we're giving you discounted prices, instead, what he did, he tried to lower all the prices across the board and say, look, we're not going to do promotions, not doing coupons, just have low prices every day,

come to j.c. penney and now what? it was a complete flop. the stock is down 60% over the last year. so this morning he said now what? i'm going back it what everybody wanted, i'm going to mark everything up and then mark it dun and make you feel like you got the greatest discount of all time. and i feel badly for the guy a little. charles: i hear you, listen, this is america and we love the illusion. thanks a lot, nicole. now, we do have two more big names that we want you to know they're making news this morning. google, it's picked 8,000 people in the united states who are going to have a chance to wear the company's new internet connected glassers. the winners are going to have to pay $1500 for the privilege if they want to test the version of this product. google shares, by the way, are up 15% this year. and is apple starting to feel the heat from competition? maybe because the company is now offering free next-day shipping on all iphones and apple shares, well, they're down 13% this year and let's take a look where they are now.

and this is down 6 bucks, $455, and want to go back to nicole and talk about this crisis in cyprus. we talk about this every day to you, nicole, you're our insider on this and you have familiy there. >> and the latest, what the capital control will be, they're trying to avoid a run on the bank and people sticking $20,000 in the baby's diapers and crossing the border, what they're trying to avoid. 0 tomorrow is the day that the banks are due to open. no one believes it, because it was supposed to be on actuals. and my cousin irene, noted there are talks, will the system be able to handle that, and we'll see that and the contagion and now the economy has been hit there and the euro zone, the

other point, the euro is at a two month low again back to november 21st levels. it's interesting, the article in the article, a bank lost because of the bonds took a haircut on for greece. one hand trying to help the other hand and in the meantime, the cypriots feel betrayed and like guinea pigs. charles: they have been remarkably organized about this. we'll play an interview with your cousin, and it's touching as are all of your updates there from there. we'll talk to you later, okay? and since the crisis in cyprus began, we're asking here at "varney & company" could what's happening there actually happen here? our next guest says it's already happening and joining us now jonathan krugman. how do you make the case that, you know, the confiscation of people's savings is already happening in america? >> well, the federal reserve and the administration here would never be so blunt as to reach

out and take it and call it a tax. but for the last four years, individual savers, particularly the middle class and the poor, have been earning nothing on their savings accounts. the yields are zero to-- >> how is that the same as taking your savings account, taking the principal? >> well, it's sort of robbing you of your yield on your savings, right? so you're getting paid nothing at all to keep your money in the bank, which is sort of part of the american dream put a little bit away each paycheck and earn a little interest and at the end of the year you have more than you started with. you've been earning nothing and you, the individual have no access, basically to credit. the middle class. even the upper middle class, too, for that matter, but yet, the banks are making record profits, i don't have a problem with except for it's off the back of the saver. charles: jonathan, is the premise there's money always out there to be made and instead of us getting some of it in return for putting our money into the bank, it's being redirected to the banks themselves and to

extraordinary clients, if you will? >> basically, yes, it's the rich, it's the banks and big corporations. ibm, disney, finance the long-term bonds and get a lower rate, but the average family of four making $70,000 in america can't refinance its mortgage and earning nothing on savings. charles: how does a bank stay open? forors i thought cash on a bank's balance sheet were considered a liability, not an asset, a liability. they're in business to lend money and to have cash flow from the interest. so how do banks keep this going? how do they live up to their historic obligation and business model without lending money to people? >> well, two things, i mean, first, their cost of goods, their biggest product is capital and their cost is zero. and so, everybody who has a credit card or an auto loan or a mortgage, the profit's basically

100% for them. they're borrowing from the fed, which the fed endorsed and shutting everybody out from taking on lower rate, that's why they're making-- >> before i let you go. this doesn't change until the fed raises rates. >> raise rates or loosen restrictions on middle class borrowers. >> maybe something goodwill come out of dodd frank. thank you. >> appreciate it. >> my pleasure. charles: could be the next bubble to burst. student loans, defaults up 36% and college tuition isn't getting cheaper. new the at 10, we'll layout the numbers and tell you why you should be worried, again, at the top of the hour. now, i have the honors of trying to find seven stocks that might be up with the dow down 100 points. monsanto had a great day yesterday, relatively unchanged, it had a big deal with dupont and they settled a long legal battle and going to get 1.7 million dollars. target this morning, morgan stanley had some positive

comments on target and they actually said the new target for them is 75. right now from-- >> mattress firm reported after the bell yesterday. this is period they missed on the top and bottom line. i thought guidance was sloppy, we were in for the stock and i was ready for a big loss raymond james said they liked it, a move. and neutral to buy at citi, and may see other people jump on it, an upgrade from credit suisse and they like dsw. and a lot of people are saying where is the yield stocks? this is one. pg and e. and j.p. morgan-- earlier this week, they got an approval for a drug viro pharma.

and isi says, it's too much, they put a strong buy on the stock this morning vmware. the market was up 100 points and now 98. it's going to be a tough, tough day. time is money so 60 seconds, what else we're going to be watching for you today. tiger woods, number one ranked golfer in the world again and nike, you can believe, is making the most of it it with the "in your face" ad. we'll be talking about it later this hour. and judge napolitano is going to join us for a handicap on how the court will rule. and the administrator in california makes $400,000 a year and will for life. well, wait until you hear some of the highlights. we're going to break down how she makes the money and an interview of her that we found. it's fascinating. well, president obama said his health care law would lower costs.

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>> got a shaky start this morning. you're looking at the big board right now. the dow jones industrial average off 91 points. all right, so you want more proof that obamacare will cost you more? well, here it is. a new report shows that the cost of insured claims under obamacare will jump 32% for

individual policies in california. the increases expected to meet 62% to 80% in ohio. the result, health insurers will likely pass the extra costs down to you and they'll call it the affordable care accurate. sprint is getting into the car business and during the new york auto show sprint is going to unveil new in-car technology that will read your e-mails and text messages outloud. here is tell us how it works, tim johnson from sprint. it's one of these things when we hear it, wow, this is what everybody's -- it's hard to see where anybody would be against something like this. it's a pretty big deal. >> it's great. we're excited and it boils down to connections, conversion for the customer. we're trying to take the best technology that we, the consumer electronics communication know how to do very well with the best the auto sector knows how to do well and converge it ultimately to our customers. charles: i look at technology companies a lot and reading in annual reports and presentations

and keep seeing more and more of them are talking about the car. ultimately, the car is going to be more pc communication device than something we'd get from place to place. >> we realize a lot of things going on in the car. the car is incredibly complicated technology and just the nature of assembling thousands of pieces and we on the wireless side know what it means to connect people and we're looking sensibly to work with the auto industry to bring those two together in the car so the driving experience is appropriate and pleasant and ever evolving. >> i'm sure you guys have tested. you know how people do the abbreviated text talk, my son can send me a text and every word is two letters or less. if someone sent me a text like that, would it say e, e, see you tomorrow? >> and part of our role of being a consumer electronics company who is the best and brightest

star of the technology enablers and partner to bring the right technologies to the car. charles: what about the idea, and there's a lot of-- a lot of people worried about we should not be communicating in our cars. we had the ban on using a cell phone and now texting while talking is a huge issue around this country. i could see perhaps where the argument is, this will make it, you know, less distracting, but others will say, this creates even a greater distraction, that the text messaging will never stop. that the cell phones will never stop. that the person driving, their ability to if he cuss on the road is going to be hampered dramatically. do you forsee some of this happening? >> i think the intent is to look at it strategically and in a purpose mindset so we're trying to stay ahead of the curve and avoid the issues that you discussed. >> all right. it sounds like it's going to be pretty exciting. so we appreciate it. >> thank you.

charles: gold broke under 1600 under a fair amount of pressure and from i understand it's down a little bit now. here we go. actually we're turning around 1600, that's a pivotal number. maybe it will cling to that for a little bit of time. speaking of clinging too something, tiger woods, he clings to the top spot for a long time and lost it. guess what? he's the number one golfer again. and according to nike, his main sponsor, all is for given. i wonder if sandra smith feels that way. she's joining me with david asman next. and the latest ad. i can't wait to hear what you have to say about this, sandra. ♪ your cheating heart ♪ ♪ will make you weak ♪ ♪ you'll cry and cry and try to sleep ♪ ♪

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>> rough start to the market this morning. dow jones industrial average off 94 points and we're below 14,500 for the moment. tiger woods, well, he just reclaimed the top spot in golf, but by winning the arnold palmer, nike comes out with the quote "winning takes care of

everything" talking about the well publicized extramarital affair and publicized divorce, sandra, what do you think? >> better than "just do it" took that too literally. and everything is not better. his marriage is still gone. charles: it's gone. >> his kids have to see him only on certain days of the week, everything is not all better and i think it's irresponsible of nike. >> it's a b-s phrase. winning didn't help pete rose get into the hall of fame, did it? if you screw up, lie, cheat, gamble and do things you shouldn't do, it doesn't take care of everything, doesn't help you get in the hall of fame and doesn't he help you long-term. maybe short-term it's fine, but long-term, no. charles: tiger woods didn't cheat at the golf game, in a country where marriages end in divorce-- >> the fact is he broke the rules and it's not going to help

him. he's not going to get in the hall of fame because of it. so just winning doesn't take care of everything. charles: if you make a mistake, anywhere that you forgive someone? if he's-- he went from 58th in the world in golf, overcame a major knee operation, tremendous public scrutiny and scorn to reclaim number one and those are huge, does he deserve any credit. >> sandy, is he contrite enough. there's no question he's number one, top in the world and unmatched by any other pga tour member at this moment. he's number one. his golf is on top. the connotation from this ad though, i have to say it has implications for his personal life and nike has to know that, but guess what, nike is the one sponsor that stood by his side through everything. and they're probably talking about themselves, too. winning takes care of everything. taking care of-- >> over the weekend i saw a lot of golf balls stop near the hole with a nike swish on it. they got a lot of free publicity.

>> oh, yeah. >> at some point you're separating your private life and personal life, you know, i think what he's done is amazing as a golfer. >> yes. >> it really is, now. >> when he's on, he's on. dropping 25-foot putts and chipping in. i mean, he's an amazing golfer, we're not taking away from that. charles: before we break here, do you think he'll cheat again? do you think that lindsey vonn, as a woman, what do you think. >> the whole photo shoot was so bogus and embarrassing for the two of them. . [laughter] so bad. >> they look lovy dovy there. >> and i bet the odds are high, it doesn't make it through. >> i think it was a crafty pr stunt. charles: thank a lot. and college loan debt is exploding. defaults are up 36% in the first two months of this year, that's huge. so, here is the question. could this be the next bubble to burst? it could be devastating on our economy, that's next and don't forget obesity, well, forget

about obesity. there's a nars sissism epidemic and we have the man, dr. keith ablow blames facebook and he's an outspoken critic of facebook, can't wait for that. a lot coming up for you now. >> nobody has problems on facebook, it's a recipe for not only other people to feel bad, but for people to be tremendously narcissistic because they're only getting positive feedback and pretending them hundreds, thousands of quotes, friends.

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read and consider it carefully before investing. risk includes possible loss of principal. charles: the next bubble to burst could very well be student loan debt. i am charles payne. banks are reporting $3 billion in student debt payments that have not called in. the cost of tuition has gone nowhere but up. it has created a mountain of debt from these loans. more students are deciding to go back to school and now piled up more debt. if they do not do that, they are unemployed or underemployed. everybody should be able to go to college. at what cost?

♪ charles: much more on this student loan bubble in just a moment. the crisis in cyprus says some depositors may see up to 80% of their money gone. 80% of their savings wiped out. we have to go to rich edson. he is in cyprus. rich: this is a huge community here. about an hour on the coast. you talk to these folks. some of them are concerned about their bank accounts. many of them will think twice about keeping their money here. >> potentially the people who have money here will probably leave for safer places to put their money.

there will confidence in the local economy to keep that going. in terms of international business, i think it will be difficult for companies that were based here to stay here. rich: charles, there is one other story line in all of this. large amounts of capital was leaving cyprus banks on the eve of the bailout. so much capital that they are not enough funding for this bailout. charles: thanks a lot, rich. we appreciate it. now, we want to bring in nicole petallides. she has a personal side to this story. her family lives there.

you interviewed your cousin yesterday on fox business. here is a little bit. >> we do not know what will happen on thursday if the banks do finally open. they have used us basically as a guinea pig. there are talks that the systems may crash. charles: it sounds like there is a lot of anxiety. and lot of uncertainty. nicole: you should just keep a note that she is a happy go lucky type of young lady. she is extremely worried. that is not her personality. it shows she really demonstrates how the people in cyprus are feeling. people will not part their money in cyprus. people i talked to said they will not park their money anywhere in the euro zone.

you will see people start to move their money out of the euro zone altogether. as far as moving the money out, we will see about that investigation. i heard something to that effect as well. we will see what happens. ultimately, it is a big mess. we will see if cyprus is a stepping stone of what is to come in the future. >> i have been impressed with the amazing restraint and cyprus. we do not see all top cocktails. we do not see people rushing the police. what do you think the tone would be? nicole: i feel torn.

ultimately, these people are all business people. many of them are highly educated. irene, for example, with my family and long island. the people that are there are big business people. they have the sense of we will survive. we have the faith. i do not think you will see the molotov cocktails and things like that. they will just move forward ultimately, what will they do? this is the kind of tone. they are very business friendly. sony companies have bases inside of cyprus and offices inside of cyprus. charles: you mentioned your cousin is happy go lucky. so are you. she is beautiful what you are

beautiful. nicole: i wish everyone would go to cyprus. i used to water ski every morning. it is a suitable place. charles: i hate to say this, but i think there may be some specials coming up. our best goes out to your family. nicole: thank you. charles: we were down 100 points at one point. maybe that mentality is out there. college, it keeps getting more expensive. more and more people just cannot afford it. the fault on student loans are. here is the question, are we seeing a student loan bubble that is beginning to burst? >> absolutely. remember when president obama said he would simplify things?

90% of student loans are now guaranteed by the government. sallie mae and the other private lenders that represent 10% of student loans require credit history. a lot of the credit is bad credit. investors were looking for some kind of yields. they are going into the subprime student loan. when they go pop, will we have another, will this be another subprime price with student loans instead of houses? >> the reason of this is because of the government getting overinvolved. they insist in providing all of the loans and letting everyone go to college. it inadvertently ran up the price of college. no one can get a job after they

graduate from college because of the unfriendly business environment in this country. charles: ultimately, taxpayers will pay for it. nothing is free. the it -- the administrator in california. later this hour, we will have details. an eye-opening interview that this lawmaker actually gave. wait until you here which he had to say. it is at 10:35 a.m. we are also amidst a narcissism epidemic. it rose just as much as obesity. our next guest says it is all about facebook. we will blame them.

>> everyone has problems on facebook. it is a recipe for people to feel bad and for people to be tremendously narcissistic. they are pretending that they have hundreds of "friends." charles: dr. keith ablow is here. we could put all the blame on social young for this? >> no. i do not think all the blame goes to social media. it is also with teachers, low standards, schools that have low standards for teachers, sports teams that give trophies to kids who have not excelled. we have dummied down achievements in the interest of popping up kids and their narcissism. facebook is public enemy number one in the narcissism epidemic.

charles: where do we draw the line? i kind of worry about the opposite. the kids that are afraid to go out there and look for a job and they just go hide out in the basement. >> i get you with that. the last thing we want to do is talk down the real abilities of our kids. there is another thing, charles, it is called reality. it is tough to make real friends. i have had young people tell me, listen, i do not want to pay attention to how many likes i get on facebook, but i cannot help it.

you try not to participate, you feel as if you have to. you know it is bad for you, but you do it anyhow. these sites are infecting our people. they say they do not want any part of it. charles: something else that is skyrocketing. we've been talking about disability. less than 1% of the people who went on disability have actually come back to the workforce. is there a culture of entitlement here and the pride in that entitlement where people break about the idea that they are over the system. >> there absolutely is. because of all the entitlements offered by this administration in because the administration has not tackled late the job

market, people are now telling me the number of entitlement to access. almost as if you would have reported a promotion. this is not necessarily by any means the majority of the folks that i talk to. however, there are a lot of people out there that are being told stay home. we will give you enough without working. that is the most horrific kind of handout you can give someone. it encourages them to be weak. charles: dr. keith ablow. we love it when you are on the show. maybe next time we will see you in studio. thanks a lot. we are going to go back to nicole. nicole: this is a big deal.

obviously, now, you are talking about another series that could be popular and profitable for netflix. up 2%, as you can see. 194.67. it has been a real winner over the last few weeks. the matrix was huge in its popularity. charles: when it was freefalling, i am glad we did not put it on deathwatch. it made one heck of a reversal. nicole: we will have to teach this to work. charles: all right. it is unofficial. google has taken the first 8000 people to get the new google asses.

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♪ charles: apple announced today ill start to offer next-day shipping for all of its iphones. apple is getting some attention. the shares are down eight points today. t-mobile is finally getting into the game. this comes as t-mobile

restructures the pricing plan to not require customers to sign long-term contracts. the contest winners have to shell out $1500. they will have to go to new york, san francisco or l.a. to pick them up. privacy will be a huge problem with google class. that is next. ♪

doublemoco ♪ charles: this song won a disabled man $8000 in court. he was stuck on a disney ride for a half-hour and stuff to listen to that song on repeat. he claims he was the only passenger not rescued when the ride failed. the company is changing the look of its american icon. the jeep cherokee. they are making it more european. google class has not hit stores shelves yet.

joining us now is an expert that is not buying all of the negativism. >> i do not buy it at all. we heard the same thing when smart phones came out. now, everybody carries them in their pocket and nobody talks about it. space -- charles: i would be a little upset if they pointed it at me. can we see some of that initially? >> you will see that and people will suspect that. how many people walk around like this with their phones in front of them? i think it is much to do about

nothing. you will see people wearing fake ones and you will not know. i think it will be great for the reality show industry. charles: big brother is already watching everywhere you go. anywhere you go in new york city big brother is already watching. >> the people they care about our young consumers. they are already on facebook telling people what they aree3 doing and where they are. if you put a frog in water and turn the heat up, when the water

gets hot enough, the frog hops out. you know what, first of all, that is not true. who wants a boiled frog anyway? people have been doing this with phones for years now. >> i am just curious if anyone will even want to wear these classes to begin with. we were just forced to go buy all these phones in tablets. >> people will wear these wires. when i pods came out, you could sell those white headphones. these will be very hip.

charles: i have to tell you, there is no dow the hip factor will play a roof. it will be interesting to see how google handles all of this. >> i hope they do. charles: see you later. all the headlines from this week in the supreme court are about gay marriage. they are also hearing cases on other issues that are vital to our freedom. judge napolitano is fired up about one of them he is up next. ♪

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charles: it is a check at the markets. the big boards are down. it opens down and find a way to crawl factor in the middle of the session. gay marriage is getting on the headlines. there are other cases that are also getting a lot of buzz. all rise. judge andrew napolitano is here.

>> you cannot enter a human being's body without a search warrant. it involves stomach pumping. they took a man to his hospital against his will and entered his body cavity. the supreme court says you cannot do that. that is far more interested in a simple blood draw. now, this issue arises before the supreme court, does the federal constitution prohibit taking a blood from a visit? there are arguments on both sides. if the constitution protects anything, it will protect you from the government.

charles: you always bring us both sides, but then you bring us the constitution. >> the constitution has been interpreted. it requires a warrant before taking thing from inside your body. blood and alcohol is very interesting. police often argue we need the alcohol right away. the amount of alcohol in your blood continues to increase depending upon your body weight, how much you drank and when you drink it. it reaches a plateau and then it goes down. it is not always evanescent.

what was the alcohol at the time of the accident? >> does this cover cases where the government forces you to do things? >> yes. that is one of the reasons this has become a big deal. it could either stop all of that or become the gateway to save the state money. charles: that could be a problem for people's religious beliefs as well. >> or when people are dying because they will not take blood transfusions. charles: the huge story of the week. the supreme court hearing arguments on gay marriage in america. and lots of opinions on this. >> the defense of marriage act. it permits states to the client to recognize same-sex marriages

performed in other states. they may or they may not. it forbids the federal government from recognizing same-sex marriages anywhere. whethhr in states where they are lawful or they are not lawful. the case arises here in new york where a couple of to got married in canada. one of the female couples died and left her estate to her why. the federal government assessed a tax bill on that estate. she challenged this. the lower federal court here in new york invalidated that portion. the federal law should follow the state law. they chose to live in new york. they never expected to pay a tax

like that. charles: do you think it is too early. >> i think it will be five-four. this is not invalidating rights of states to decide whether or not they want same-sex marriage. justice kennedy could as easily go the other way. charles: judge, thank you so much. we appreciate it. half a million dollars a year and retirement. you will not believe what this woman has to say about leadership. that is next. ♪ friday night, buddy.

you are gonna need a wingman. and my cash back keeps the party going.

but my airline miles take it worldwide. [ le announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. charles: we have more proof of ways of inefficiency in washington. they spend about $8 million to maintain properties.

officials say there is too much risk to get rid of the properties. it is nearly impossible to know how any properties of government owns. there is no precise inventory. it has never been taking. >> there is a specific reason this is happening. back in 1987, congress passed a law saying any unused federal building had to be offered to girl agencies and then state agencies. as a last resort, it had to be used as a homeless shelter before it could be sold off it has not been revised. charles: it is not. we are talking about the money that would bail out papers. >> this is government waste. there was a building sitting in

washington in the georgetown neighborhood. once it was put on the market, it was put on the market for ten years. it sold for $95 million. for ten years, we were maintaining that. that money was coming out of our pockets. charles: could you imagine how much all of those holdings are worth. we have another example of crazy spending. in california. an administrator will make $423,000 a year. she is the highest-paid administrator in california. here is what she said in an interview about leadership. "one of the principles i like to follow is leading by example. " management is doing the right thing while leadership is doing the right things."

this has to be a real big-time story out in california. this makes people so angry. the notion that so-called public servants are living this lavishly off our time. >> we are not a right to work state. by the way, $88 million deficit last year. the county officials there were thrilled because it was significantly lower than the 138 deficit they posted the year before. this will make it a $54,000 a year for working for the county. $24,000 bump because she has equity pay. she is guaranteed to make 10% more than anyone else working or the county. charles: that 54 grand kind of hit me hard.

she is getting a bonus because she had a job. she gets a bonus because she had a job. she gets paid equity. >> here is the thing that is really doling and chose the disconnect. they always try to justify making this kind of money because they say this is the only way we can attract the best and the brightest. i know a lot of smart people that would work for a third of this. charles: it is so disingenuous. the workers of the private sector -- listen. we know it is hard for anyone in the government to ever get fired. people in the private sector get fired all the time. they do not have guaranteed retirement. this is entirely different. we used to call them public servants. the fact of the matter is, it is

apples and oranges. >> i could not agree with you more, charles. the problem is, there has been a sea change of mentality where you have people who are originally went in thinking they would be part of public service, but then were told that this is a guaranteed golden ticket or the rest of your life. that is where the majority of these bureaucrats come into public service. we have cities and counties filing for bankruptcy. we are told we had to cut essential services. charles: this kind of story, though, it feels like nothing could ruffle feathers out in california. at some point, do you think the public will say, okay, we have drawn the line.

this is too much for one person to make off the backs of taxpayers. >> i think it will get there eventually. there are stories like this coming out on a continual basis. i think that the best way to think about this is if some mind is the best of fact then i think weedkiller is the best. charles: we appreciate it. boxing is a big business. there is a huge fight coming up. one of the fighters is joining the company. that is next. ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold styling, unsurpassed luxury and nearly 1,000 improvements.

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charles: boeing started test flights on its 7873 minerd this week after the faa grounded the planes because of the battery problems. the faa says it may temporarily limit the distance they can fly. shares of boeing are down a buck on the news. shares of jcpenney's has a new way to boost profits. jcpenney reporting a 25% drop in sales. shares are down a little bit. the second worst performers this year already. pepsi announced it will release

a new. oh that is supposed to taste like the taco. good? anyway, it will hit the shelves next month. ♪ but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.

charles: we do have breaking news for you out of cyprus. when banks reopen tomorrow, there will be a ban on cashing

checks. it is also reported that fit and credit cards will be limited to 5000 euros a month and they can only take out 3000 euros in cash abroad. they will be in effect for at least one week. i want to go to the call now and talk about target. nicole: last two i went to target. i went to minneapolis. we spoke with the ceo at that time. he talked about an expansion in canada. today, you are seeing the shares hit a new annual all-time high. this comes on the heels of morgan stanley saying the rollout in canada is on track. the firm actually raised their estimates to move the shares higher. they have an overweight rating. obviously, wells fargo has been speaking with people in toronto.

it has been received quite well in the prices. charles: absolutely. morgan stanley also opt their target on them this morning. time to check in on your money. ones that are of huge. u-haul, temper ketek. some of the disappointing one so far: all analyst chasers. i am blanking on rack space. i think i got to to you on that one. i will close that out. our next guest is a boxer with an amazing personal story. he has a huge fight coming up

with floyd mayweather. robert joins us right now. congratulations on this. how are you feeling? >> i am feeling great. it is what i have been working on since i was nine years old. gerri: did you ever think that one day you would be a champ at this? >> that was the dream. watching fights growing up, that was the dream to become a world champion. charles: in your division, there has been a lot going on. one of the most popular fighters in the world, a couple of losses. the last one very devastating. a lot of people consider you to be a real good guy. can you share a little bit of your story. >> about seven years ago, my wife got diagnosed with

leukemia. she has been battling that. now she is going on three years cancer free. i think guy for that. it is just roughed in and out of the rings trying to be by her side all the time. her going through chemo treatments and bone marrow transplants. it is overwhelming. charles: yet, you still get in that ring and you still fight the most intense fight in the world. you have taken some serious punishment. >> yes. definitely. charles: how do you deal with that? i know sandra smith is going to really beat me up. the idea that you are putting your life in your hands. that is extraordinary. >> doing it so many years, you

get used to it. you get used to the training and the preparation. you go in there all the time that you will do a great job. you have good trainers on your side that will always look out for you and managers that will look for your best interest. >> it takes such extraordinary concentration. when you have these personal issues that must be weighing on you and pulling at your brain all the time, how do you keep your concentration? >> i am a big believer in god. charles: good luck. >> is a your birthday today, by the way? >> yes. charles: happy birthday. i want you to take a look at this. it is the new redesigned jeep

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charles: all right. do you recognize that song? the singer filing bankruptcy. she owes $10 million backed their taxes. the new jeep cherokee design. the critics are going nuts. they say this new jeep looks more european. jeff flock is at auto show. jeff: they really want to prove that this is a real jeep. this is the torture track that they will work the new jeep cherokee of over two kind of proof we can still go over boulders. the fact is it is built on an italic and platform. we will have the unveil later for you. released video and pictures of it already.

it is a software design. this does not look like your grandpa's jeep. maybe this is what people want these days. chrysler is on a really great role. we will see. next hour, if you tuned into the fox news channel, they will give you a sneak peak at about 11:30 a.m. charles: drive up 48th street on the westside highway. that is a torture track. more varney & company next. ♪ 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's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years.

♪

you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. charles: we have to take you back to this breaking news on the situation in cyprus. when the banks reopen tomorrow there'll be a ban on cashing checks, debit and credit cards will be limited to 5000 euro per month ago i take 3000 euro for cash.

this according to reuters. a week and a half for your bank opening this is the news. david: you had a sense something like this would happen. it is impossible to isolate a little thinking community particularly one as small as we thought cyprus was. it is international banking system, branches all over the world, they will get the branch office in france and so forth and pull the money out. charles: we still have to hear about what we're going to do, how much can i take out. sandra: they are all terrified, tons of uncertainty. look at the stock market, this news has been the only thing that has really caused a break in the astronomical rally we have seen so far this year. the only thing throwing a wrench into the system.

charles: is throwing a wrench into the sense our savings are always safe. how are you doing? dagen: i have connell tied up back here. the capital controls are still in place five years later so we will see how long they last in cyprus. thank you, charles, great stuff all around. i am dagen mcdowell. new controls and people are on the edge of their seats in cyprus waiting for the banks to open. and the cyprus situation, take money from the rich. judge andrew napolitano on this they should be allowed to dip their hands into your bank account. the cyber threats turning to the department of homeland security to bring home a checks. the government is hiring hackers by the hundreds. more ethanol into gasoline