somebody did not pay the bill. i will make use sorry for not paying this bill. [laughter] that is all the many today. we will see you back here tomorrow. >> tonight on "the willis report" public confidence in government rocked after the ira's scandal has america finally lost faith in the institution. new information on why america is a beazer dying at an alarming rate in what it means. and we have some of the best new sports cars for a test drive. we're on the case. "the willis report." gerri: our top story

moorhead's role at the irs a second high-ranking official is out and he was in charge of the division at the center of the current storm. so many scandals working with public confidence in our institution, financial and public have been shaken to the core. with us now former massachusetts senator scott brown and one of the most respected poll come on wall street teddy weisberg. welcome. we found an opinion poll on the irs to people trusted? unfavorable from 59%, up 21 percent favorable. are you surprised? >> it is a little higher than congress and that is 13%. [laughter] there is the expectation when you give the irs documents they will be held safe and secure in not transmitted were used for political or tactical advantage and they have preached the trust ironclad

the president has m decisions to get rid of these people and i think there's more coming within days to be a open dialogue and transparent analysis of what they are doing and why. gerri: this is in no fit people don't trust to begin with. this is a beloved institution falling on hard times but americans are wary of. what you say in how people on wall street regard it? >> no differently than main street america. nobody likes to pay taxes but we all do. but the fact that they targeted a group, quite frankly we're not surprised because we just assumed that was going on whether the current administration but they have the power to do it and said lead now we found out that they do. gerri: i don't think it is

just the irs witt they are losing trust and faith in all types of institutions. people were asked you have confidence in the military? seven 5% yes. small-business, a 63 percent yes. big business 21% yes. then you fall off the wagon. congress 13%. looking at congress, the big agencies people are losing faith. >> look at the fda and epa with the lack of certainty now the irs you throw in benghazi and the ap debacle and it is outrageous the president hopefully not or his underlings are using their political power to effectuate serious problems with american citizens and the public deserves better. gerri: they do.

a lot of famous hedge fund managers they all talk about how they don't believe in the fed and they think ben bernanke who runs the fed is on a dangerous course. they have been too loose and keeping rates too low for too long. to me that is another instance of people saying i don't believe in what we're doing. >> that well could be true but the fed is a complicated organization but i see it in the stock market. we run a brokerage firm we are on new highs in we have been on a great role and yet we see no uptick of the retail business. it frustrates us because of course, you want to be busy but why is the public not participating or showing any interest in the stock market? it gets plenty of publicity

every day from the financial press yet there is no uptick of activity and why is that? because there is no confidence? i suspect yes. but why? gerri: it does not seem like even playing field. easy traders who use machines to trade you get in front of everybody. we saw a couple from being great that shows 76 percent of people have no interest to invest in the stock is a different kind of america? >> going back to the basics looking at real estate and foreclosed properties thinking they can score a little bit. also starting their own businesses the old-fashioned way. they are nervous and they have not seen that this high and worried about the price of gold and they have seen the massive downturn of six and did points and don't want to be a part of that. we'll remember but

$17 trillion national debt? the fed is printing money all the time. >> are we on a deck of cards ? [laughter] >> you understand. it is your life and the average person who was to play in the stock market that has $5,000 to say i will invest in what i can control or touch it and feel it in no way will be tomorrow. gerri: i think the decline is part of this that said, the economy at all believe in it i want to be outside is this affecting in ways we don't understand? >> i think it is affecting all of us. i bring it back to the stock market but the government basically that they basically touchstone whole landscape of house stocks trade and and then they have become more opaque in the

public reacts. the whole area of electronic trading a few people with a lot of money and big computers at a know if they are controlling the market but it appears they are gaining the system and it has always been a risky business but it is so tilted away from the individual investor it is sad. >> we have to start looking out for the individuals and the institutional investors putting a drag on them i am not sure how to connect. that is your job. gerri: a flood in the conversation. we will have more on the irs scandal and at a hearing tomorrow i'll be joined by republican congress man from arkansas in 20 minutes hands what you think? had lost faith of america's biggest institution? boats on the right and side of the screen at

gerriwillis.com. just getting started including tips and how to get the most bang for your buck with college financial aid. in prison obama needs to call warren buffett quickly. we will explain. stay with us.

are you still sleeping? just wanted to check and make sure that we were on schedule.

the first tenology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. gerri: president obama is not, not a savvy investor at least if you look in his latest financial disclosure document. he is rich but if he wants to stay that way he could use tips from a good investment manager. listen up. this is for you. joining me now is rob morgan from fulcrum securities. day you know, i was shocked

basic rules of investing out the window completely ignored. he has a 30 year mortgage at five point* six% you to get one at 3.six today. >> he could save two percentage points and it definitely makes sense for him to refinance and there is no excuse other than he is in washington i guess he feels he has to be back in the state by he could save a lot of money by a brief panic -- refinancing. >> key has money in checking accounts that pay nothing 25,000 of a range of 500,000 the jpmorgan 15,000 and northern trust and was struck me was that is not like he needs walking around money not mckee is paying the mortgage we are doing that i am sorry your grandkids do that other

people pick up the check so why all this money on this side? would you do this? >> i would not. it is reflective of the average investor today that is still scared of stocks and hello, mr. president, we're now entering the fifth year of the bull market of stocks he should put that money to work in his defense there are a lot of investors just like him out there with a lot of cash on the side. gerri: i have been too harsh she is taking advantage of low-cost index fund and a lot of money in the band -- vanguard anywhere opportunity $50,000 that is his stock investments right there. >> he needs diversification. if he likes vanguard they offer small cap index funds

as well as international. he really needs to add that to his portfolio but i get it he is trying to be plain vanilla because he doesn't want to invest that his adversaries can say he invested in something bad. by being vanilla he keeps a low profile be is not diversified. gerri: that is why people put their money in a trust fund when they are president. i don't understand. this man has doubled down on treasury bonds. 1 million through 5 million t-bills. i am thinking this is the dress. >> i think so also. and it is reflective of what investors are thinking and are afraid of stocks with high cash and high treasury's.

some would say we are in a treasury bubble so this could turn against him. he is in the tax bracket where he should have tax-free income. so to diversify and sell some of the treasury's into stocks is a good thing or into municipal bonds is also probably a good thing. gerri: constitutional law expert and president but that doesn't mean your smart about your investments. >> i guess you are right. gerri: thank you for coming on. later we will tell you how easy it is to bring your i pad into the bathroom. it is called the commode caddie. how do you do that? the best way to boost your son's or daughter's financial aid before they had off this summer. stay with us. ♪ fferent; how we gethere is not.

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gerri: millions of dollars in financial aid go and spend every year and how to negotiate a better piece of the pie.

gerri: you know college tuition skyrocketing 570% increase over the past three decadessand to make matters worse experts say millions of dollars of financial aid money goes up and used every year because familiis don't get everything they are eligible for. how do you do that? my next guest joins me now. i was shocked in your notes to reach 53 percent of people who would be eligible never even fill out the forms. why is that?

>> it is extraordinary. they believe they will get the money which is not true they just have to fill out the fast of. >> the magic form is the fafsa free application for federal student aid and you can get on line and it is all done online it is not that difficult to fill out and what every college and school uses to determine how much financial aid you are eligible for. they take with the family can contribute and the difference between that and tuition is how they come up with the number for financial aid. if you don't feel without you don't know. gerri: great advice because free money is a good thing. but tuition discounts are going up and one of the few bright spots of this whole conversation is 45% is the

proportion of the freshmen that will get some kind of money attending private college. people have to get on the stick to get this money? >> yes. they have to be willing to speak to the school and not afraid to ask for the re-evaluation or appeal financial aid. finally, the schools are realizing students and families cannot afford the crazy tuition bills so they're looking to help students actually afford to school. gerri: fafsa is the first tip. then know your aid package. what you mean? does that mean negotiate? >> great point*. it does not mean negotiate. of all the financial aid officers say cringe over the word negotiate because they feel we are not negotiating

over a car is what you are eligible for. its is important when you look at your package to realize you need more money some things are not covered in the fafsa. if there is the hardship and your family or in between the time you applied and filled out the fafsa you lost a job that is the type of information the school wants to know and understand. but when you talk with them it is amazing how many people feel they need to bb aggressive or make up the sob story so they think the advisor will buy it and fall for it but the reality is they just want to know the real deal of what is going on. gerri: documentation and tell the real story and don't try to elaborate or tell the untruths and heee is something that i know full well is critically important.

express your desire to attend you have to tell these people you have a persooal connection to the school and described in detail. >> yes. absolutely. especially for the common application is so easy for students to apply for many schools that college and universities don't know who to lee want to go there. the financial aid divisor who is evaluating a package is much more willing to be favorable if they think he will really come to their school. gerri: tell us about your app. >> on i tunes called scholarship advisor and it has thousands of scholarships on there that is easy to apply it gives you the information to go directly to the of web site if you search for scholarships you will find it.

gerri: data for coming on. time to look at the stories you are clicking on ending down slighhly after another record close after the giant retailer blamed higher payroll taxes and delayed tax refunds for bad sales and appell says if more than 500 billion apps have been down loaded since started in 2008 and had 500 when it first opened now what has the headed to 2000 the 50 billion set down the road was a game for american airlines let them just call -- carry a personal item under the seat get to board first the does not include rolling suitcases they are trying to improve on-time performance and hoping it will allow flights to take off sooner and the power ball jackpot $550 million it

shot up after the latest drawing produced no winning tickets in the next ticket is saturday. those are some of the hot stories right now. the check-in with their jobs more and more people are taking their tablets to the bathroom of a get new accessories for the commode. ♪ we went out and ask people a simple question: how old 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 wl in their 90s. and that's a gat thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age.

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the irs scandal in a moment with a preview of the big hearing tomorrow. before that another big scandal obama says there is no there on benghazi the accountability review board offered a thorough investigation but as lou dobbs printed out that is distorting the truth. >> actually mr. president that review board did not looking into every element of benghazi but did examine the security matters before the attack it did not look into those responsible for the attack for the administration's response and pickering and mullin did not interview secretary of state clinton. i am sorry mr. president, but you knew better. you had to know better. there you are. [laughter] what are you talking about tonight? >> we are looking at the

mounting scandals and inconsistencies, misrepresen tation and scandals rocked the administration juss about everywhere you look there are people misstating the facts making for policy choices and sometimes both aggressively. what is this administration actually doing? they claim they don't know when they get caught whenever there is a problem. with the chalk talk i will lay out out this administration has become the ideal noah administration. [laughter] gerri: i love that. >> we're joined by two leading republican congressman talking about the scandals and the administration and the impact of immigration reform , a gun-control and the president's agenda joint by the house judiciary committee from virginia and

he will be with us to get answers about where this country is headed that is a crisis of credibility for this president. gerri: we will see you in 30 minutes. consumers are taking tech everywhere from shopping and business trips to doing their business. it is a little surprised that the new wave of accessories is where you need it the most. your toilet. we have a bathroom to accessories. everyone is laughing at me for doing this segment i also know they're writing down the names of the products at the same time. how did you get this story? >> being introduced -- introduced as the eye pied commode caddie it is a gizmo calls the ipad in place while you do your business and it helps with the toilet

paper holder on top of it. gerri: here is a picture. maybe for my 19th anniversary. but the reality is you don't read magazines anymore so what do you do? >> bathroom reading will never go away but the difference is what we're reading it on. this is the next-generation version. gerri: we did the hammer occurs lover project let's look at some more. >> this is not exclusively for the bathroom but you can and basically alloww you to put the eye passed on the wall opposite the toilet >> that would be good in the kitchen also for your child? >> that awkward stage of penetrating and get the kids

on the toilet one way is to put the ipad their. it combines a toilet seat and the ipad holder so your kid can be amused or watch a video or a training how to use the toilet. [laughter] this was a huge hit at the consumer electronics show. gerri: that child would never get up and me there all day long. [laughter] also a pedestal? >> it is gerri raped when i was researching i found these products are in response that people have been coming up with the homemade version. some people say i use the stepstool somebody said they include wood together and created the perfect stand so the marketplace is responding to the marketplace.

>> capitalism at its best. a figure for coming and it was a great segment and i hope people don't think we are going down the road. i knew there'd be jokes. turning to the latest developments there is a new irs chief obama tapping the office of management budget office to take the head of the agency but stephen miller is still scheduled to lew testify tomorrow the first on the scandal we have tim griffin from arkansas a member of that committee. first of all, tell me what you want to hear and what question will you be asking? >> i want to know did the irs target conservative groups in response to the letters it receives from

senator schumer and senator levin or did it do this on its own? what is the origin of this idea and also why after numerous questions to the officials at the irs and the forms of letters and hearings, why the irs did not update members of congress when they learned this was going on. gerri: lots of questions clearly. but i have asked a couple of senators wrote letters asking them to go after these groups was that the impetus for this chasing down of the tea party? >>.

>> look at what the irs was doing but it looks like they we're doing was senator levin asked them to do and senator schumer asked them to do. this is another reason why we need tax reform. if you take the complexity at of the tax code you will remove power from the irs. gerri: the acting commissioner has resigned under pressure he was going to be binge you in any way but does that take thh wind out of the sales? he will be testifying but he is not still in office. >> cozumel a we have to get to the facts if he is an

office or not and there are other still working at the irs who are in gauge and i was just reading a breaking story apparently the individual that was in charge of the tax-exempt section is now running the obamacare section of the irs. there is a lot more. gerri: those are abc news reports and fox has not confirmed that but that really adds an interesting edge to this conversation. thank you for coming on we will talk to after the hearing to find out if you got the answers you wanted. we appreciate your time. when we come back you will see me test drive some of the hottest luxury cars out there. , long for the ride. they buzz and they seeing a end endangered and in our greenroom and why honeybees

are dying off and buy a matters. in the green room right now. ♪

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to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours ifou have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, difficulty brthing or swallowing, stop taking cialis and get medical helpight away. ask your doctor about cialis for daily use and a 30-tablet free trial. gerri: the plight of the honeybee millions are dying and federal agencies are suggesting that the collapse as many culprits but do not have a clear strategy on how to fix the problem. with more on this founder of the new york city beekeepers association you are fourth generation beekeeper.

gerri: they are onset. so to talk about this issue it is not a light topics. >> not all. gerri: we could have a tragedy in the food industry of this isn't fixed we aree3 one bad winter away from a collapse of the food industry. >> it is true over the last three years 40 percent of our lives have succumbed to something and it died. that is a lot when you consider the honeybee, the muscle of the honeybee is responsible for one-third of the through the beach that is a lot to give up. gerri: they pollinate everything even though all mint harvest will be nowhere >> that is where it begins altman's all the way to zucchini the bees have a hand through their labor we have this food on a commercial level. gerri: what is going on and? >> kind i'd like poverty that there is not one cause

there are 20 each one has 20 so if you mention almond they are stuck for thousands of miles and put on to another source of food with one kind of nectar and if we eat cahill is good for us and would make us healthy but if we ate only that it would work. it would not work for the bees but then these that were healthy now the immune system is compromised and put on to the genetically modified crops with the pesticides and the sole purpose is to disrupt and kill insects. gerri: and the b is caught up in that? you could hardly help that. >> i have an uncle who was the beekeeper and they were in the family and it was

always a wonderful thing to have fresh honey in the household. tell us about bees and how important they are not just to the food-processing but also generally. >> bees are important because they pollinate the food that we eat but apart from that they are a part of agriculture in have been for hundreds of years we have had bees in this country over four centuries. when you grow by an sure you had sour with money it is beautiful only produced down there and even that is disappearing a sourwood honey and as there are fewer bees than the demand for bees increases of food supply shrinks and the price goes up. gerri: is their fate honey? >> synthetic honey has flooded the market. gerri: you have to be careful about what you are buying.

>> you do. gerri: looking at these bees and you say they are worker bees? >> most of them. 99%. they are happy to be here. gerri: you brought them from home? >> they came from a rooftop apiary in chelsea. gerri: new york city? >> they are urban bees. gerri: how many times do you guess dong per week? >> it is often the nafta i am sure i deserve each and every one. [laughter] gerri: thank you for bringing them on i hope they find a solution soon. >> i hope so too. gerri: now this day in business history established in the midst of the great depression the first recipient was from rochester new york. federal spending on food stamps has rocketed

$85 billion in 2012 and the total amount of people on food stamps is almost 48 million which is more than the entire population of spain and all started when the first food stamps were issued today may 16, 74 years ago. my $0.2 on calling your nerves and "consumer reports" takes a look at top-rated luxury sports cars check it out. ♪

>> hitting the open road testing of the sports car on the market today.

gerri: welcome back to the show where "consumer reports" talking luxury sports cars i am here with geoff bartlett and is now a good time to buy? been a great time with selection because all the dishes are fully stocked and in terms of pricing you really want to look at the off season when the dealerships want to get rid of these cars. gerri: you can negotiate what types of trends are we seeing? >> a high level of refinement with packaging to make these sadder seasonal very livable like he did

steering wheels to give some warmth to extend the driving season. >> let's go for a drive. >> looking at the boxster take a look at these lines. >> a gorgeous car to the iconic 9/11 it looks fun and fast. >> this is the top of the list? >> it stood out with a score of 89 out of 100 because it is engaging and fine and fun to drive. gerri: technology is an important part but they tricked them now what does that have? >> it is not necessarily something new but it is neat the engine itself is midway within the car because that helps with the packaging that you have a trunk as well as storage up front but it also means applause the

center of weight low and central which gives the of great dynamics. gerri: they don't get a free pass them and nobody gets a free pass the seats are little snug and the ride could be little smoother smoother, the controls are a little bumpy. gerri:, why pay? >> $50,000 and this guy is the limit our test car was $60,000 and to show how rides the wheels alone added $3,000. >> can i take a ride? gerri: i like this why did it makes the list? >> not only stunning looking but very engaging to drive

and it has all the luxury amenities you would expect in a luxury sedan plus the benefit of the retractable hardtop to let the sun shine in it is a mechanical ballet just like the transformer it takes about 20 seconds. gerri: you told me about the next one? >> it is a clever way of a makers find to extend the open top sees in it blows warm air onto your neck with a heated sea and he did steering wheel you to get a few weeks or months of driving. >> anything that could be improved? >> there is always room for improvement but we found the mechanical nature was a little blotchy and the four-cylinder engine is a drop more than we would expect for the luxury car.

these really come down to personality. the boxer is a bit more engaging that is more fun for the weekend escape. but the other is maybe more livable day to day. gerri: i want to take a ride. ♪ gerri: i liked the boxster. i thought that was a great car. don't forget to attack another top-rated sports cars at consumer reports.com today is not good for drivers of small as to be only two out of 133are getting passing grades of crash test the 2014 subaru forster was the only vehicle to get a good reading and the mitsubishi outlander sport got acceptable. popular models honda crb and forges a banned jeep wrangler all got marginal or

poor ratings. it tested crash is only one quarter of the front end. we will be right back and the answer to the question of the day have you lost faith in america's biggest institution? stay with us. and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to meone who knows exactly how i trade. because i n't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience."

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in addition to us monitorinyour accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working aund the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female nouncer ] when people talk, great things happen. gerri: president obama is promising to work with congress to make sure that irs does not abuse its power, one of many news stories causing americans to lose faith in their institution, are you one of them? >> robert said nope, just the people occupying them, thank you. -> we also asked on gerriwillis.com, 90% said yes, 10% said no. log on to gerriwillis.com for our question every weekday. >> and do have you a fear of

flying, close to 50% of americans have some kind of phobia for air travel, you may want to start a pot -- spot fi play list. they say, music with a low beat per minute pared with deep breaths can make the flying or palatable, the longs someone like you, sail away. better together. buffalo soldier, and scar tissue, paradise by coldplay, as i lay me down. and inside out by britney spears. spaced oed on oddity di odd by g up tomorrow, we go inside of the pet luxury hotel.

catering tokai 90s -- canines. that is it for willis report, thank you for joining us, see you tomorrow. lou: good evening, who in this government can we trust? a series of scandals have enveloped the white house, and the administration is struggling to reassert its agenda and voice as probe's credibility has been -- president obama's credibility has been shredded. we will examine what part of government, and which leaders in particular, we can trust, and those we cannot. we will catalog the lies that have led the administration to this point, we begin had the