melissa: that is all the money we have today we will see you back here tomorrow. the oil report is next. >> hello everybody i and gerri willis. tonight, gaining the market the plan to put the brakes on high-speed traders in new warnings about the of bird float -- briefly as the death toll rises. sneaky packaging. >> don't get fooled by the labels. we're on the case tonight. the "willis report." gerri: all that and more coming at the first the machines are taking over the

market we reported a lot how the stock market has fundamentally changed from the original purpose now it is all about to commit the quickest buck and who has the fastest computer? individual investors and amir left in the decimal street journal reports how high-speed traders are exploiting a loophole in the commodity markets making millions in milliseconds before the rest of us even know what is going on but now a new plan has come out to hit the high-speed traders where it hurts and restore order and sanity to the market and joining us now the man with the plan the commissioner at the cftc. great to have you here. but first let's start with the story what did you make of this about the commodities market and these high-frequency traders? >> it is terribly troubling

speed is everything in these markets and it is the split-second they trade in the 1,000 of the second many times. it is putting retail investors at a disadvantage. if there is something against the law that has to be reviewed but definitely troubling. gerri: we have a graphic it is not obvious how this works so with the high frequency traders to issue two orders on either side of a trade. then when one is executed they buy or sell behind it they take advantage of the changes in price that they have initiated. so i have to ask you it is almost like they are manipulating the prices. >> first of all, you

explained it very well but manipulation has a detailed in common speak people would think it is manipulated i will not are arguing that but under the law in commodities has a certain test you have to meet the let me further explain. pat fate are doing it at the same time their trading in the market is a risk management market but if you buy and sell at the same time you are not taking on any risk so i am not so sure who your helping it seems you are skimming and as we talked about before the people they make the most money off is the smaller retail folks. gerri: and food to the market's belong to any way and wire they set up? at the end of the day people are trying to save for their

retirement and put their kids through school and they have to put up with the cheetah traders what is the right solution? >> i am not in favor of banning them because there are some attributes as people suggest there like the new floor traders everybody has to have a fast computer like they had a data trail and supposedly they will be smarter because they are trading on lots of information as opposed to the punch but i am not sure they're putting a lot of value that is helping the markets. >> what they have misinformation we don't have and not being shared as it should and do you believe these exchanges are incentive to fix this problem because the cheetah traders are giving them a

lot of dough. >> the changes do a good job in general and have the regulatory responsibility but they have a profit motive they make many of the volume one of the things we have to do as the primary regulator ensure there are no incentives or plans available for the traders to encourage them to be in the market to the point* where they may have a perverse impact. we have talked about that with a trade with themselves so right now that different plan they called them market maker programs those should be transparent. >> everything is for them but that is not what it feels like they get the affirmation and we're not and do city should be taxed? >> i suggested today for the

first time just a few hours ago whey a transaction fee this is the equal opportunity proposal in general that republican and democrat administrations have beach propose that the sec -- sec has of a transaction fee and all others except cftc have self funding from the agency but we have never had that. gerri: is this the way for you guys to get some money? i can hear you just wrote want to ride the backs of the free market traders who were keeping the markets liquid. >> we had up part of what we have to regulate our the over-the-counter transactions that god is into the mess people are feeling and we have more bad guys getting away on wall

street than ever before because we don't have enough cops on the beat by a fine of all taxpayers pay for the market that the people that are using the markets as the one armed bandits they have to step up and have responsibility. >> thank you for coming on high-frequency trading makes up 61% of u.s. futures market volume. you don't think that's a problem? i do. thank you for coming on. and happy birthday. [laughter] >> that is nice of you. gerri: to run my special guest will be dick grasso the former ceo of the stock exchange than the high-frequency trading problem also and i will talk to him about protecting investors and what do you think? have the machines taken over the stock market?

go to gerriwillis.com i will share the results at the end of the show for a roller-coaster rides to roll custer's and they are assigned ramping up to the busy season but then comes the element of real danger the first of its kind that says an easement park rides his injured thousands of kids every year. on average a child is treated every day because of injuries suffered on these rights and with us now is author of the coaster critic were you surprised by the numbers? >> figure for having me. i was not so surprised and nobody wants to hear about children being injured but when you think of the enormous number of rights given every year the 4400 is 2% so that is encouraging.

gerri: three-quarters of them all rides seem to be the problem when the kid falls off getting on or off? is that something you should avoid? >> i think in those cases the mall writing is a new term but they are referring to the smaller rides where the toddler or the young child may try to climb in themselves and maybe the parents are not as attentive because they're not at the amusement park then they let the child get in or out on their own and they fall and get hurt so i think that is what is driving those injuries. gerri: you are a lifelong fan of the ride to and from virginia have you ever gotten hurt? >> i haven't. i have never been injured and the chances of that are so small. gerri: how do i reduce the chance?

at the end of the day when i really want to know is how to lie avoid what potentially could be a horrible event for my child. >> first you always follow the directions and the rules and the height requirement the age and weight requirement and also know your child. and alleges they mature enough that maybe they will not sit still or wait to stop when the right stops moving the following the rules and knowing your child and looking at the health restrictions if there is some parts issue are backed issue we should not ride in those are common-sense ways to keep ourselves safer. gerri: what is the most dangerous or which and use the parks are the most dangerous? >> i am not sure if i could

pay one type of park or ride as more dangerous but i would say i tend to feel safer at the theme parks that have per minute rides i am more familiar with their process of inspecting that is every morning before the park open in. >> but those pop-up parks they are little anxiety producing. thank you for coming. we appreciate your time. gerri: more to come. including the latest on the deadly bird flu in china and we will tell you how to fix mistakes on your filing for taxes. don't go away. ♪

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gerri: concerns over bird flu all are rising and the virus poses a serious threat and it has affected 126 people in china killing two dozen in the past month and we have a host of health of the nation i see numbers here i almost don't believe. 20 percent of the people infected in china have died? tell us about the severity i think it is unlike anything i have seen. >> the problem with the flu is it is a peer avian flu. the flu in the up past the age one and one which was the swine flu was a combination of both kind and it was much more amenable to the vaccine it is gone now from the transmission of people to handle chin's people to people that is

what makes it dangerous than the fact we're not prepared we do not have the vaccine. gerri: we don't have the vaccine? how do we not have that? >> if same way we did not have vaccine for the h1n1. gerri: unbelievable isn't somebody working on this? >> i have no idea. i don't know. i would presume so but you are talking about the federal government. [laughter] gerri: this is frightening it to come to our country it anytime people traveling all over the world where we could find ourselves facing the threat and if no one is working on a vaccine may be we will find something maybe we won't, that is disturbing >> the issue is funding and politically there is a conundrum to find something ahead of time then face political backlash if nothing happens zero or is

something hatpins you are a hero? but frankly the congress and administration are to promote the general welfare and by not developing a vaccine i don't think they are fulfilling their constitutional obligations and. gerri: that is a big charge. our hearts go out to anybody in china who were dealing with this but what is the likelihood it comes to this country? >> i cannot give you the exact percentage of your on target when you say we have a global economy and people moving from point a to point b with jet transportation and there is a concern as we got ahead of the game to quarantine and catching it before it comes here, the issue is we're not prepared

if it does come here. that goes to the question of the vaccine being available. gerri: i am not an expert but it seems they get more severe all the time. is that true? >> this one is. i would not overplay its but because it is the peer flew it is pure ab and and what makes it even more difficult is the chickens to become affected don't really become sick by the time they do it is too late you cannot trace it back to the of the chicken and it is a problem. gerri: how will we find out if it does come to this country? will the government has something to say willoughby widely know there are cases of this? >> it is the question of

national security and whether the government wants us to know or not i would not say it would come here i think we are prepared to preventive but sometimes the best prevention is not enough. once there is a case and if it is human to human transmission then it becomes difficult if it is a pandemic then we will have travel restrictions and people will be evaluated and i think the federal government will do its job with that instance by your concerns are well placed. gerri: thank you dr. brooks for coming on tonight to tell us about this. later, a warning how not to be fooled by sneaky product packaging. how do do that? we have tips on fixing your tax return now that you have

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gerri: you made the deadline to file but now you realize you've made a mistake and our financial experts breaks down how to fix them. 60 seconds.

gerri: you rush to get the tax is in now you realize you've made a mistake. you're not alone 2 million taxpayers made 3 million mistakes it turns a you can't fix them but how? twenty now was a managing director. rich, good to see you. what are the most common mistakes? >> not fighting with the

1099 or w-2 as lots of pieces of paper that you missed your 1099s corrected especially those people filing early by february to get the refund then months later that is the way life is you might have to amend. >> does the irs only really care about the hairs that give them the advantage for you to be a bigger check to them or do they pay attention to everything? >> it is not intentional but the irs domino's certain things and the things that are filed with them that 1099s nw twos. gerri: if imus a deduction they don't care. >> they may not know if you make a charitable deduction for medical expenses they will not know they don't

know what you give to charity. gerri: what is the deadline? >> when you amend the return you have three years from the time you file or two years when you make the payment, whichever is later so basically it is three years because the irs has three years to audit your return. >> this is the form if you make a mistake you need to find less tell me about the form that looks really complicated. >> i really it is simplistic and allows you to have three columns that shows the original documentation and numbers and income deductions and the corrected numbers in the second column in the third shows the differences so they have a very simplistic first page form they have to support

with documentation if you take certain deductions that is the attachment. gerri: and sounds like more work for my accountant and a higher bill for may. >> you can change your status where is my amended return and restocking federal anything you change on the federal return can affect the state return. gerri: i forgot about that. is there some errors you don't have to fix? >> grammatical you don't have to fix them or mathematical will be caught by the i.r.a. so they will send you a notice of any changes it said w-2 was not attached they are filed with the irs you will have to go to the amendment process. gerri: on your way to vacation still talking to apparently. [laughter] thank you.

time for a look at the stories you have been clicking on facebook the first quarter revenue just 38% year over year it said it earned $0.12 per share with the beat on the top and bottom the shares and up half a percent and closing in on $28 per share and the federal reserve stays the course saying the job market is showing improvement but not enough to raise interest rates will also continue with the monthly bond buying program all reporting double-digit sales increases the best month in six years in the sun also announcing it is cutting prices on seven models so it will hold police show up on more research into insights some

are as much as $4,000. mayday a winter storm bringing up to 2 feet of snow in colorado and wyoming so far no major travel delays so much for global warming use of the hot stories right now if you were thinking about sitting down to watch now afflicts it may not be there anymore. don't be fooled house niki and tricky packaging to have to buy things you don't need or want. [ lorenzo ] i'm lorenzo. i work for 47 different companies. well, technically i work for one. that company, the united states postal service®

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♪ gerri: welcome back to this

show. reread "consumer reports" testing facility command i am here was one of my favorite consumer reports people, top marks. we're talking about the claim that companies make on their products when you go to the gusher store. you say some of this may be to sell to consumers to have the wrong attitude with a walk into the store. >> when consumers walk into the supermarket there in a heightened state. they want to believe good things. they want to think they're making excellent choices when it comes to nutrition, when it comes to value. and they love to see pretty things, packaging, eye colors. it makes him feel good about the decision. gerri: here is that thing right here, and started 5% more. >> to win one more of anything, but when you look at it on paper it started 5% more than the 40 else detergent. it's a 50 of package. they're comparing it to a 40

else. of course it's more. 40 ounces. a school kid knows that. i call that meaningless. gerri: this that's a good thing. >> with they don't tell you is what is some port and as they do to you. it does not tell you that there is partial hydrogenated fats in there. that is not so good for you. gerri: is one of my favorite things to talk about. the people who made cornstarch, why did they do this? they want to put things into products that are not supposed to be there in the first place. >> fortification and products is all over the place. yet selected the product is being put into. cornstarch, calcium, i guess

that's okay. to make a claim, let's be honest and likewise charges mostly used as a thickener. you're not going to a stupid up like a bowl of soup. you're going to get very little benefit. gerri: it -- gerri: i look biscuits. yo problem with this. >> better than crackers because there not fried, but there are not exactly a health food either. however, look at the label. you will see, may help reduce the risk of heart disease. we like that. it's like when you eat a diet of one particular type and serial. a, this could help your heart. first of all, very few people were doing that. the real thing is that they're trying to portray this night food and health food, and that's a little disingenuous. it may be better. what they're not telling you, again, six crackers contain 120 calories and 4 grams of fat. how many of us stop at six? gerri: i love what you said what these potatoes.

they're pretty darn good. >> they look good. what you see today is a lot of produce packers are actually doing the old kind of -- like all of the super model approach. it looks good on one side, but with the makeup does alex attractive. what we have seen demand recede is with things like grapefruits and lemons, on one side, the bag actually mimics the color of the product inside making it look beautiful, blemish rate, delicious. i want to take monday, but then when you flip the site ec the clear plastic and you see warts and all including potato eyes and all. you have to look to both sides of the story to find what you're getting. gerri: love it. bottom line will want to tell people is read the package. >> you have to read the labels. don't be put seduced, look for blaring claims. look at the nutrition facts on the side. read the details on the ingredients. don't fall for a pretty face. gerri: always good to see you. you're not just a pretty face. you are smart, too.

thank you. >> my pleasure. gerri: oh, my gosh. when we come back, temperatures return. the will tell you how to protect yourself this season. next netflix today the rice to thousands of movies and shows that may be a favorite. we will have the latest. we know a place where tossing and turning have

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♪ gerri: we have been talking a lot about the internet tv giant netflix. well, it is losing nearly 2,000 movies overnight. fox business reporter kate rogers joins me now with the latest. why are these movies going away? >> largely by choice. they are choosing to let these tiles expire because they're focusing more on developing their own original content like their series it house of cards. gerri: really? it is their decision?

at the decision of the movie makers? >> experts are saying why go into the licensing fight when netflix knows it's as is really great conflict -- content . they would rather have good quality shows. gerri: i'm going to say buy it themselves. >> paying for the filming in production, so they're focusing on that rather than content. gerri: house of cards. i am so addicted to this thing. they may have made the right bet, but i am wondering if other consumers will care. >> they have more original programming. they are releasing this new series, some type of sci-fi series. and then also they have new episodes of arrested development which was such a huge cold fan favorite in the early 2000's. picking of the series and releasing 12 new episodes. everyone can been janet. it has gotten a lot of buzz and consumers are excited. gerri: i am losing control of

the competitive landscape, starting to not understand it anymore. does this help? does it hurt ultimately that they don't have this in inventory? >> they're saying they have about 30 million u.s. domestic users. they surpassed hbo. there are the same price. netflix just as more and different content our original content. gerri: what is the price point? >> $7.909 per month. they will release a simultaneous streaming system that will be 1199 per month and the constraints that on four different laptops. and it amazon prime is different. that is a bundle system. today free shipping. one freed but a month, and then you can also stream their content on line, but they will not release this is trevor numbers. gerri: can i tell you that i

think we have all of that in my household. i am so embarrassed. we are total media junkies. thank you for coming up tonight. appreciate your time. earlier we told you about a new consumer reports study on sneaky packaging. also today they can now with a shocking new report on smart phone security. listen to this, more than half of adults in this country have one from my farm stand or it's a buy perry's. last year, more than 7 million of these users of the loss, broke, are headed stolen along with all their private information. there are simple steps you can take. that list is tonight's top five. number five, install and anti virus application. 15% to people have one. last year one and 5 million smart phone users had text messages sent or accounts access without them even knowing bubble because a malicious software. and before, learn how to remotely like your phone. according to consumer reports, only 8 percent of users know how

to do this if the device gets stolen. i learned all about this. number three, download a find my phone application. only 25 percent of users have this. number two, back up your data. we always backup work on computers. the same should go for your phone. less than one-third of people do that. the number one thing you can do to keep your smart phones safe, locker screen. learn how to do it. it seems obvious but only 36 percent of smart phone users put up password lock on their phone. it's a no-brainer. and meanwhile, president obama arguing obamacare is benefiting most americans, even if they don't know about it. the numbers don't lie. we took a look at the president's signature law and last night's choctaw, and here's what you found. >> according to a new kaiser family foundation poll 35 percent, 35 percent of americans favor obamacare.

that is pretty lousy support. they say they have somewhat favorable view for a favorable view, but that is down eight. well as 61. >> caller: 12 percent of americans. this is mind boggling devito percent of those surveyed, 12 percent of those surveyed think the law was already repealed by congress. 7%, 7% say the supreme court overturned a. gerri: he joins me now with some strong words and, frankly, embarrassing facture the president. what issue are you talking about tonight? >> it is a lot of fun to watch what people do think about all of these laws that have been passed, but particularly the signature law. tonight i am talking about the single biggest problem in washington today, the lack of

leaders, the numbers of home ownership released today and to my goodness, people started just plucking about those being the lowest since 1995. while some people may see that as a huge problem in and of itself, maybe they should be thinking more about their homes rather than their houses. i see all of this as a symptom of a president who has not focused on what should have been his number one issue all along, growing this economy, putting people back to work. living -- moving straight ahead to an era of prosperity instead of this dour town that he is said, what remains of what i think is now a lame duck administration. gerri: i could not agree with you more on housing. tonight you will be talking to the lawyer or at least one benghazi whistle-blower. what do you expect to learn? >> well, the attorney for one of

the potential whistleblowers. the stone wall that the administration has put around the entire subject looks like it is breaking. her client has something that the house oversight committee wants to know, and the administration obviously is very concerned about the american public learning. we will be talking about that. of course, bring you all of the latest news at the top of the hour, just minutes away. gerri: thank you so much. good to see you. still to come, my "2 cents more" on a strange new bill making its way to the house. and next, they're back. if you thought potatoes were the only problem, think again. the latest on the return of the bed bug. ♪ @

♪ gerri: coming up, the return of

bedbugs. this time in hospitals, schools, and taxes. what you need to know to avoid this pesky outbreak

gerri: the warmer weather may be luring you're outside, but it is also luring bedbugs into your home. take a look at these pictures. spring and summer seasons are prime bedbug time. here on what you need to know, the entomology department at the american museum of natural history which is a great museum. thank you for coming in. you have actual real bedbugs year. they are live. >> yes. gerri: thank you. appreciate it. thank you bring into the set. damaging just sitting here. what you will one of those us a book and see them. >> that might not even see much in this one. more adults in this one.

gerri: let's talk a little bit about them. what are they? why can't people get rid of them? and always hearing stories about how they go somewhere and no one can get rid of them. >> people have success in getting rid of them. they're to be vigilant to see where they are and get either do it yourself work were ideally a company that does have to do bedbug work. gerri: why beds? >> not necessarily bad estimate cuts is common shares, wherever they happen to stay alive. yourself, be invested. gerri: they travel with you. that is the big thing. >> people put their luggage on the bed. gerri: the really scary thing, you have fed these bedbug

yourself today. tell us about that. >> i invert these files over my hand and a fee for about ten minutes to much of the minutes and then there fall. gerri: i don't react badly. some people think they are roaches. they don't know what to do. it think this prefer roaches. gerri: i understand that the places they are now, hotels was a big thing. but the dorms and nursing homes, assisted living. i mean, i did not hear a thing about this kind of but five years ago, ten years ago. not many people even realize. people were not on alert to look for these things. gerri: are they carrying disease? >> they actually don't. except in some people they cause

a very bad reaction. some people even go through posttraumatic stress syndrome if they are so interested bedbug infestation. i have been somewhere there are hundreds of dozens of bedbugs in the home and they're calling all over the walls. gerri: sanders of thousands. >> because they have gone on for years and a person was oblivious gerri: how can you be oblivious? >> sometimes all the people dulce well. sometimes judges could use to it because it does not bother them. if they're in their apartment the neighbors. go through conduits. gerri: thank you for coming in. always a pleasure. when you leave, you please take care bedbugs with you? >> okay. gerri: thank you. appreciated. thank you. there they go. >> actually high numbers in june, spring and summer. it's all year round.

all year round. gerri: that's a nice thought. thank you. >> abcaeight. gerri: on to this business today in history. back in 1962 the very first target opened in minneapolis. in a burst of red and white inspiration's stewart and his staff came up with target and immediately envisioned a classic bulls eye logo. their reasoning because their goal is to hit the bull's-eye, the new store will do the same thing was retelling price. when 1979 annual sales reached 1 billion. today with more than a dozen locations in the u.s. and a $70 billion revenue, it's the second largest discount retailer in the u.s. after walmart. the very first opened today, may 1st, 51 years ago. no bedbugs. it will be right back with my "2 cents more" in the answer to our question of the dayy have the machines taken over? stay with us. ♪ girl vo: i'm pretty conservative.

very logical thinker. (laughs)

i'm telling you right now, the girl back at home would absolutely not have taken a zip line in the jungle. (screams) i'm really glad that girl stayed at home. vo: expedia hes 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours.

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. ♪

gerri: the chicago mercantile exchange admit that high-frequency trader seven edge over everyone else as computers make trades before the rest of the market sees certain data. have the machines taken over the stock market? here is with some of your posting. the way the market's swings before one can react leaves me to believe that the playing field is at an incline. in the past they say that humans take over if there's an error. there was, and no one took control. it seems as if the stock market is a game for the race that has far reaching effects on assault. we'll also ask the question on gerriwillis.com. 91 percent of you said yes. the machines a taken over. here's some of your e-mails. how is testing a success if the average citizen cannot afford to buy one? our government subsidized it, but only people like leonardo dicaprio can buy one. audrey from florida, my husband and i still enjoy your show. keep up the good work.

sydney in the melt. gerri@foxbusiness.com. finally tonight, can you imagine this from an economy with no one in london rate, not no unemployment, but no unemployment rate. the gdp numbers, no economic data at all. jeff duncan wants that to become a reality. proposing a bill to prevent the census bureau from conducting any survey. he said the government's economic numbers cannot be trusted and the market should move -- should not move so much on the status. as much as i fear the famous words of from the government and i'm here to help, and sick of congress wasting time on those going nowhere. that's my "2 cents more." coming up tomorrow, the business of travel, the industry generating about $2 trillion annually. he will tell you how it can work better for you. that's it for tonight on "the willis report." thank you for joining us. don't forget to record the show if you can't get his life.at nil

see right back here tomorrow. ♪ with this did. ♪ lou: good evening, everybody, stunning developments in the boston marathon bombing. three college friends of the surviving terrorist tsarnaev, charged with trying to cover up evidence that tsarnaev participated in a terrorist attack. two of the three young men are from cassocks and detained more than a week ago on immigration charges and charged now with conspiring to construct justice. you can see them in this picture here. the picture believed to have been taken last year. at third man not picture there is charged with lying to federal investigators. attorneys for t