guys omen the meantime, we will see whatou tomorrow >> i'm denn kneale in for melissa francis and here is what is money tonight. u.s. senate launchesn asult on apple's tax practice andbillions it has overseas. can tim cook and other ceos stop a t grab by congress? we got the world's most valuable brands. a look behind the go-plated labels. theirvalu cldhow what you is next for their stock prices. stick around for details. >> and who made money today? one party did and hedge fund billionairbill ackman is not happy about it. mo on tt coming up. even when they say it isn't, it is alys about money.

>> you chose not to bring those profits home and so $100 billion plus is now stashed away i these three irish companies. >> codn't one dr the concluon, that you and apple ha an unfair advantage ove mestic-based corporations and companies? in other words, smaller companies in this country? >> we got these corporations andou're the biggestne, that e to shift profits to places wherere and american companies dn't pay income tax on it. that's where we're at. nnis: that is where we're at. senators grilling apple ceo tim cook today on capitol hill. there is trage in d.c. over apple's use of entirely legal foreign subsidiaries to reduce theax bill and hold profits made abroad offshore rather than bring the money back to t u.s. and get hit with one of the highest corporate tax rates in the world. but apple will pay $7

billion in u.s. fedal taxethis year why don't senators thin that is enough? why single out apple for doing what all big companies do? joining me for more on this, cato institute director of tax policy studies, chris edwards and foxnews.m science and technology editor jeremy cap plan. jemy, it always makes great headlines to say, companies ar't paying enough in taxes andyet i feel how much is enough? don't we want to invest in companies that pay less money in taxes legally so they give us more money? >> that the really interesting thing about this th have done exactly nothing wrong but feels so incribly ridiculous. we're talking about tens of billionsf dollars, pu profit, they haven't paid anyone any tax on whatsoever. you have to think, maybe, maybe possibly shouldn't they be spending putting so of that back into the u.s., just a little bit of it. dennis: chris edwards, at cato, i that where we are, paying taxes is do-gooder patriotic duty and a company otherwise have to legally?

>> apple comported itself extremely well at the hearings today. they did not give an inch of ound to the senators who are franklyn a wild goose chase. apple is extremely good for e u.s. economy. 95% of i its r&d is here. st of its employees are re and pay as huge amount of taxes. it has don nothingrong. it has done nothing illegal here apparently. does what every u.s. multinational has to do these days. they have to do this complex tax planning becaus the 40% u.s. tax rate is highest in the world. so if anyone has anything to be embarraed about it is not apple, those senators sitting behind the podium who kept ourrates so absurdly high while every countrarnd the world has cut. so gd for apple for defending themselves. dennis: jeremy, don't we think those very senators grilling tim cook today hire their own accountants to pay as low a tax as they can? don't you out of your way to pay as low tax. >> i absolute do. i'm also not making 100of

billions of dolls overseas and not doing anything with it. s see both sides. on one hand products are maden taiwan pro parts build in taiwand told to sigh juanees people. at is the u.s. getting involved in thatway? ses on one hand ifpple has no obligatio whatsoever for that. dennis: and yet? >> and yet --. dennis: go ahead, chris. that's right. 60% of the apple's sales are abroad there is question here,why should the u.s. gnment ve any anything to do with grabbingome ofhose foreign profits? most high-income countries, germany, france, canada, have so-calle territorial systems where they essentially y, the foreign operations of their multinatiol companies are none of the country's busiss. so the united states has this weirdly aggressive system wheree try to track down u.s. companies and in all their reign, all their global operations and we try to tax it her that makes absolutely no sense. it is bad for the u.s. economy. apple is a hugexporr that is good fors.

so we shouldn't worry about the foreign profits. >> that is not good for us. we're not making anything off it. great for apple, not necessarily great for u.s.. dennis: why isn't good for the u.s.. >> sure it is. almost all their r&dis done here. sohat is high-income, high-wage jobs for united states. >> more than that, guys, apple is paying $7 billion in federal income taxe this year. it paid out pension funds that, are pensions for teachers and firefighters, 30 of them have apple asne of theop five holdings. pays out billions of dollars in dividends. this thought someh the profits apple makes belong to the government instead of bee to people who bought shares in apple, i can't believe i'm hearing this from a fox newsguy. >> you're saying 7 billion. that is large number. when you look as a percentage but i don't think necessarily is. dennis: if they're doing it legally what is wrong with it? the government is setting up a tax code that is ridiculously convoluted and they wrote in the loophos to allow companies to do this. >> i'm with you.

weirdly nuanced. very strange situation and completely legal. good for them. good for them dennis: i don't see it as nuanced. i see it as washington refusing to cut spending and ing everything to turn apple upside dn an bang on the soles of the oe to knock all the coins out of the pockets. >> i'm frankly ale has so much operations in the united states given our high tax rate. canada has a federal rate of 16%. our rate in the states is 35. that is just crazy. our self-interest is to reduce our cporate tax rate, get more real investment here. get these companies shifting their profits into the united states and not out of the united states. dennis: jeremy, tech seco i was say i the government would learn the key lesson of the reagan era 30 years ag that when you tax something at lower rarates you get more of it, the we would have no cash flow problem. if the government would cut the 35% tax rate that we slap on overseas profits already pa taxes once to the local market, you cut that taxrate to 5% from 35,

finally companies would bring itome. job won chaers of cisco says we would have $800 billion private dolla stimulus plan. not tax dollars. private. yet people say if they're going to let them take home ca on lower tax you have to insist they spend the money certain way. no good to spend money on dividends. wait a minute. the cash bongs to shareholders. >> dennis i admit i'm not a tax expert. you clely know morabout it. i wtched entire hearing it was a listening to foreig language and it was boring and dry. i coululdn't undersnd half of it. i tell you one thing the sheer number, tens of billions of dollars they haven't paid taxe to anybody it. dennis: because they're following thlaw,uys. >> that is not --. dennis: we'll wrap it up. >> that is not what app says. apple actually says that the moneney they hold in this inteational holding company they have already paid one level of profits to foreign cotrie dennis: right. >> and they'reryin to avoid a section level of tangs onthese profits that is whatpple is saying.

dennis the bigger things is, guys, bigger thing for shareholders that money belongs to you. it doesn't belong to government. the heck with the u.s. senate for deciding $7 billion one of the highest corporate taxpayers in the country is not enough. thanks for being with us, both omen. >> thank you. dennis: turning to recovery efforts underwrway in the aftermath of the deadly tornadoat ripped through oklama yesteay, naons pourg in from a number of big companies with strong ties to oklahoma to aid the recovery. home depot set up a million doll fund toda fox business's rich edson has more on that. ri? >> dennis we'll start wth making the biggest dnor, 6'9" big, oklahoma city thunder, kevin durant. they will match up to a million dollars in donation, nba and players association are mahing. home depot is creati a million dowollar fund. parent company of oklahoma gas and electric committing half million dllars.

chesapeake corporaon headquarterein oklahoma city is donating a million dollars to the red cross. anothe energy company, phillips 66 says it is donati a millionollars tohe red cross. this is just a sam pnk as the american red cross receives significant contributions for disaster aid from the business community. >> if the notion of a panership, these are the true partners of the red cross. what we've seen in many of these corporations, they do the early investmentas part of annual disaster giving program. then they and their employees step up as well in times of disaster with additional donations to help those in need. they're motivated, both as, businessesmaking invests but alson rms of compassion when they see a disaster on the ground. >> dozens of american companies participate in the re cross's disaster-giving program. they involve donations and commitments from businesses on an annual basis that gives the red cross the ability to deploy into a disaster area immediately especially when give such little warning like in the case of a tornado. the red cross has also

gotten an over whelming response from kid individuals. you can be part of that. text red cross to 90999. texting red cross 90999. dennis? dennis: that was a good service there, thank you, rich edson. those coanies doing a really good thing even though i bet you congress would decide they're not paying enough taxes. >> next on "money," jamie dimon didn't just survive that sharehoer vote today as foes sought to strip him of the chairman's title he now looks stroer than ever. e dimon and jpmorgan really out of the rough? a trio of chase watchers are hear to weigh in. world m most valuable brands are named. beneath the glitz and glam could be more ney for stocks. "piles of money" coming up. ♪ .

♪ . dennis: love that. the votes are tallied. jpmorgan's chairman and ceo jamie dimon will keep both roles. 32.2% of the shareholders voti to split those jobs. but was this about al corporate reform? or was it about punishing jamie dimon for being kind of arrogant? joining us now we have to

bank analyst extraordinaire dick bove. great to see you, dick. my bigurprise, a year ago, 40% of the shareholders voted in favor of stripping titles. in time of this big campaign, big controvey and fewer -pvotes in favor of stripping the titles. what does that say? >> i think two things hhppened. jpmorgan made ts massive, if you will, attempt t get the votes in which they didn't do a year ago because they never thought it was possible. buti'm also assuming that maybe there's been a shift thinking about banking. every time you read about jpmorgan you hear about the whale, you hear about too big to manage, all this her stuff b this attack, ought out a lot of posive information that there are only three banks in the united states three companies in the united states in any industr that make more money than jpmorgan. the jpmorgan makes more money than any otr bank in the world except the chinese nk is guyas been having reco earnings, quarter after quarternd that he's turned around t banks so that they have gone from

beg i would say money-losers or troubled institutions to institutis that are doing extraordinarily well. i think tt all of sudden stararted to sink into people's pche a they said, why shou we get rid of this guy? dennis: when dimon's friends leaked, jamie told them if they trip me of chairman title i will quit as ceo i worried there would be a backlash, shareholders would go, younow what? don't threaten us. you quit. do you think the threat helped his vote in his favor? >> i d quite frankly if he lost this, what became a vote of confidence, not a vote on corporate governance, he would have had to leav because he would have lost the support of his shareholders base and i think he would have had to go. just the way ken lewis went when he lost the support of people from bank of ameri. dennis: right. >> i think the thought that he would leave and he's the guy whoreated jpmorgan chase to be what it is, you kno i think did frighten pple. it was a that, but i think it worked.

dennis: he is the only ceo who made true bank synergy work. these different huge smokestacks at jpm has are able to generate more business for other smokestacks unlike what citi was le to do. now that $6 billion whale loss, the trading loss we all ar about, everyone has their nickers in a twis about came in a quarter even after that loss, jpmorg earned more money than it ever had before in a quarter. a separate chairm had been in place the time, wod that have meant they didn't lose $6 blion? >> i think you have to plame him for e loss. dennis: i do bme him. i don't think a chairman would have fixed it. >> i agree. it would not probably be fid. he is a fallable human ing. not only did he do that wrong but he made a big bet on subprime mortgages a few yes ago which i thinkas another huge mistake, ght? he does make errors. but he does a lot of things that are correct. he keeps prices of his products very low. i mean it's a bank but he

still thinks he has to be the low cost producer. he innovates manement so management are very smart people. it's a very exciting place to work when you're working with him because he keeps it alive. he keeps changing the mix of his products. he allocates his resources to those areas which have the highest return. he contrs cts, you know, extraordinarily well. he doea very good job in terms of building capital. dennis: during his credit, during the bubble of '07 he wasn't doing wild cdo off-balanc sheettuffs as other banks. he was more conservative even as he was risky. i have another question for you. institutional shareholders rvic and glass,hatever it is, the guys that advise big pension fun investors, they came out and said, you should strip dimon of the chairman's title? thesesa companies don't think have t vote whye to get paid for share advice. >> you're absolutely right,

were should anybody pay anything for them. eight agencies of the united states suing jpmorgan chase. a couple of states are suing the company. there are thousands of individual lawsuits against the company. i think that there was a strongesire to get rid of them and i think iss and these other groups may have listened to strongly to that song. dennis: we gambled hundreds of billions of dollars of government money to bail out the banks. now in theftermath, safe and making money, we're draining billions dove lal, and transferring wealth from banks to people o didn't pay their mortgages. i don't quite get it. maybe you can explain it next time. dick bove one-third of shareholders smackdown jamie dimon to vo for someone to be his chap perrone. josh, let's start with you, what do you think of the vote today? >> wl i think the vote was, i think it was an

intesting vote. i think as dick bove pointed out, jamie dimon leaking that he would lea if he had to separate the roles really probably did turn out those last minuteotes in his favor. i think t vote is almost less important for the jamie dimon position than its for the board wher i do expect we're going to see significant chges, bothn the composition of the risk committee and in the overall composition of t board. dennis: was this vote today aimed truly at corporate reform or just pushing jamie dimon for being kind of arrogant and cocky? >> i don't think was punishnt but i do agree with josh, that, if you look at the number of directors that got,arely squeaked by with a sma majority of the vote that was kd of unuuual. i think it portends big changes on the risk committee, possibly the audit comttee and the board itself. dennis: josh, may i ask, what was the dissenting shareholders proem? jpmorgan's stock is up over 50% in the past year. why gripe about it?

>> well, look, one could argue that it could be a lot better than that. dennis: oh, common, man. >> listen, jpmorgan sce 2009 has paid out $8.5 llion in settlements. that is 12%. they have paid out $16 billn, that is 23% in net income since 09 in litigations expenses. operational --. dennis: that is tir fault? isn't that the the fault. government for draining all their money. >> there areoperational risk failures have gone on really happene over and over. they had as example, they rigged municipal bond market bids in 34 states. 93 times. they he had violations of weapon of mss destruction control sanctions. on and on and on. theree violations. reality it is a large organization. their ri controls can be strained. and that is part of responsibility of the board is to make sure that intern controls, operational oersight a up to snuff a they haven't been. dennis: you know, mosh, the

other way to look at it, we did some $11 billion settlement that i paying billions of dollars out to mortge-holders who stopped pang their mortgage on time. >> right. dennisthey defaulted. we're creating mal hazard among the people i will go ahead and orlevage anyway. aren't the bas being ripped off here? >> you know i think that is probably a question for another day but i do believe that the banks did get the short end. stick particularly in the case of jpmorgan and some dennis: ho on, hold on. >> jpmorgan has wrapped itlf in the american flag. they bought washington mutual aa favor tohe u.s. government. dennis: well they did. >> hold on, hold on. dennis: they were sued for what washingn mutual did. that was height of rudeness, was not? >> they acquired the put-back liabilities, regnized those in reserves fo most year and a half bere deciding that those liabilities belonged to the fdic. they're unnerreserv for those sk that come back to there is $10 billion that they're fighting with the fdic is petty clear if you

read theriginal purchase agreement belongs to jpmorgan. so let's actually be a little balanced in their, there's an obligationof the company to squeeze as much as it can on behalf of% shareholders. dennis: yeah. >> but they're doing that against the government in areas where really that is questionable. >> josh, think about this for a second. the average bank failure cost of alarge bank is 20% of assets. for washington mutual that would ha been $7 billion on 350 billion of assets. jpmorg paid the fdic $2 billion. there is $72 billion bid-ask there at i think you've got to recognize. >> no, no i think what you have to recognize the contractual terms f the acisition which were very clear. ey knew that they acquired them. and only a year, year-and-a-half later did they go back and s, those are the fdic's liability. >> the government pushed all mergers and complains about too bigto faile. the gornment phes to acquire troubled banks failinwithout them. jpmorgan doeit and turns around and gets sued by feds

and state attorneys general. a height of a lack of appreciation. i don't know why so many guys in finance out there don't like jpmorgrgan because let me tell you, they will go after jpmorgan first. but they'r goi after your firms ne. thanks for being with us tonight. gentlemen, i appreciate the spirited debate. have a gotvening. coming up on "money," the world's most valuable brands are named. they may prove ideal forecaster for a company's stocprice. we'll tell you who is at top. a top wall street lawyer says the irs targeting scandal. it is not a one-off event. it is the start of an imperial bureaucracy. he is here to explain why? did you ever he too much money? i sure don't. ♪ .

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dennis: no matter what time it is, "money"is alwayson the move. investors, the company named price waterhouse coopers comes after kate tmz esigned after questions about theirinances. herbalife its shares climbing almost 10 percent today. his wealth one of $22 million toda. ch to his chagrin, on the otheside of that trade. also making money, investors an clear wire, sprint, its offero acquire for a extra 14%. shareholders are expected to reject the previous offer, no matter it already owns the majority of the comny. more than 4%. who is trying to save money? espn laying off hundre of it staff. saying it is merely managing costs with the move disney has bee imposing division by

division cuts for the past mont as the ssock kes hitting all-time highs. we see companies being bought d so. today the annual list ofthe world's most liable branches out . no word brown ranks compies on their performance, consumer sentiment. perfect combination of big data ets actual and value. make come as no surprise that apple tops the list despite some pretty rocky stock performance. clearly brand is a lot about th company, including a forecast o the market's performance. ceo joining me now, thank you for starting in coming down. let's start with the top five brands. apple at $185 billion, up 1% from 2012 despite the big slide in stock prices. >> it is quite interesting. lost 30 percent of its market cap, but only 01% gain in brand value which shows you consumers are less fickle than investors.

dennis: now, the number two brand value climbing 5%. which you used to not e advertising anywhere is advertising everywhere >> there gun ready businesses that were essential their mission. invested wisy things lilike android and media mobile which it was going tbe. dennis:bm down 3%, but still respectable 100 into a billion dollar brand value. >> a hundred year-oldbrand. it is an teresting contrast between apple and the global, which are relatively young and ibm is still areat brand and has real meaning in the busines to business community. what is hurting them is, perhaps , th rise in procurement . all of the brands took little bit of a pounding this year. dennis: now, let's look at the top five most luble brands, compared to their markets get because there are some interesting relationships year.

if you looked at mcdonald's if we do not have this wrong, mcdonald's near 90 billion, of course brand which has ft to their market cap of 102 billion. >>uper capital-intensive business and a huge amount of the value. he is e power of the bra. what mattel's tops out on is this salience. so top line, so easy to recall, and has been in the right place of the right time for this economy. dennis: we have branded value a a percentage of the total marke cap. apple, the top braniff 45%, mcdold's some as 90 perct of the market cap of that company is basically the value of that brand. is this because a lot of timbre are pretty much interchangeable? >> i don't think so much that but it has been aund so long and has such a firm position in consumers' minds. also, we supportheir brand more consistently than anyone.

dennis: we also have yahoo rejoing the top 100 list. >> our friend that we just talked about. it makes me pick -- back into the top 100. it is great news, and it is mostly on financial. i think the street has giv a big vote of confidence to morrison meyers, rve all of e board, a they're sitting on a ton of cash. dennis: in terms of the brain damage we have no idea what tha company stan for. the ad campaign in teheran a year or two ago ere they had guys and fantasy man and in dointhis and that, what was that? >> release final check bring some focus back to the brand that predaaes her, but financia values are being rewarded by competency andanagemen firm. dennis: you are awfully good at this. i know why you taking my chair. thank you for being with us. good job. appreciate it. up next, the senate gets its turn set rate irs officials are

verticals. they saythey don't know what led to the targeting of conservative grobut one of wa street's most prominent lawyers says it is just the sor of a new perial bureaucracy. it is not stosyou should be worried about but the bond market because it is about to implode. he is here to explain. po' of "money" coming up. we went out and asked people a simple question: how old is the oldesterso you've known? we gave pele a stier and had them shous. 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 much is the official retireme age. ♪ the question is how do you make sure you have the money you need to enjoy all of these year

>> i cannot say that inow that answswer. and six months -- >> you have some sense of e office. you've been commissioner for a good number of years. >> i am six months out of office . when i left the ig was looking into this together all of the facts. i've never had the benefit reading the report, and that is you know, the fullaccounting of acts that i have at this point. i don't think that i can answer that question. >> and kind a disappointed. you have had time to think abou this. you certainly had me bounce than tha deis: can you s of the station. facing tough quesestions today over theitargeting of conservative groups applyingor tax-exempt status. not getting any better for the agency. one tea party group says it wa started by the irs. taking matters into its own and

then suing the federal agency timing is dtitution right has beee violated. of the ira's is more trouble an additional losses frommthe part groups. t's ask why street lawyer mark alonso. what do you think of this lawsuit from the conservative group going after the irs? >> it is not unusual because yo get the right of selective enforcement of claims enjoyed b a lot of people. what is odd about this ishat bacallthis is r white the concept is white conservate groups used to be targeted merely for the fact that they belong to a group tha might have done something wrong. they have done lawsuits and tha is fundamentally against what most people believe should happ. thennocent and not subjt. dennis: just because of your political events. i thought you in most cases could not sue the federal

governnt. why is the lawsuit here allowed? >> the scope of the government' authority is embodied in the constitution. they forced the law unequally, which is not to say that they did because people in porsche's or mustang's or corvettes morally get picked up for speeding more, that doos not mean that they were not speedin it means that there were targeted as a rational basis fo the enforcement if. discrimination is their first a member ideas. if that was the reason comes to this investigaon and targeting of these groups. is not constitutional. dennis: you see this as part of the perial bureaucracy, kind of stepping passed wha congress wanted enduing matters into their own hands. >> tha is not right. the security the bureaucracy is not a bad thing and the reason is because it is such a complex system to 11, everythin from space, communications, it is all regulated. there is no guideboo to this maze. dennis: you're saying the regulators are the ones that deci? >> they know better than

congress. congress runs at least the people who wor within the government, the regulatory agencies have an idea, and the fa that they go back and forth to instry means that industry can sit there ago, reasonable certainty, we know how to act. the apple tax issue is a perfec example of this simple reason that apple utilized regulation in order not to pay taxes. it was designed. >> that's good bye to the irs for a moment because our government is criminalizing the groups and same erathreat to democracy, mr. investigating answered of groups. the epa, after cong refused to pass happens rate, this side that we're going to gulate carbon dioxide emissions which said never done d t clean air act of 1970's. i mean the agency going forward and ing things that congress would not pass the eck card, the nationalllabor relations board is installing. how was a good thing? >> there is a certainty. is like working with apple.

windows you can do anytng whicis give renotion. buthere is no certainty that you're not going to crest computer if you market up. however, with ape you know, if i follow these pathways i will have a good sult. there are people in business thatat dohat every day and want to me sure that their company's stock closed out. dennis: i know you pretty well, and i don't believe that you everave been in vor ofan imperial bureaucracy you reaching farther than it has been authorized. the reason you like his client have to hire you guys more to lp them navigate this imrial bureaucracy. paddng your bank account. >> the actually hire people tha work within the agency, and they're is a search and interes because they all want the syste to work. there are occasions the young political appointees the get into theystem, and that is where things go wrong because they take it, all this massive power. and everyone kowtows, every wen i say and do and we just target those people.

that happens everywhere. airport security, space. it is not unusual. however, the big problem with bureaucracy potentially is that is eyefuls because it only deal with that which it knows. when you sit there, i have a ne way to do it. dennis: the answer is usually . all right, mark alonso, defend of the imperial bureaucracy because'rmaking money ana, bet. thank you for being with us. wod about a bubble for stocks? top analysts say bonds are the real bubble about to burst. we will be ins next, and investors ought to press for that impact. at the end of thday it is all about "money". ♪ this is america.

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♪ dennis: the bond bubble and iited a fierce debate on wall street. th investment advisers predict that the coming nd market collapse he, ia real? is he right? and how should investo played? and here with uto pop the

bubb of his idea his a wealth manager at j. h. visor. welcome to the show. michael, let's start with you. you'rene of my favorite doomsayers. a new look, hot off the presses. build your case. bond market bubble off. >> the mos overpriced, over owned market in american history . 810-year note going bk 40 years average interest rate is just over 7% fee. are under %. dennis: that means the price is high. >> exactly. and how that try plows into bond funds began in december of 2007. talk about supply, the publicly traded, $7 trillion in five years. unbelievable. yet to let the credit risk in the currency risk, not jus the inflation. those are n at all refcted in this manipated market by mr. bernanke.

denn: okay. tell us why you think he is either wrong or just warily. well, as i look at it, his doomsday scenario mayor may not come to pass in the years ahead of us. you know, the graveyards and austria are filled with people who were ready to send. that was a wl reet jonal editor. relative the current rat the 10-yearwhich is today 19 reflecting more lesshe fundamtals of what is going on in the economy and the fed. and i just don't see a gbal oil by definition, is a multipl of where we would be right now d bond prices. it. >> okay. you would not argueith me that bond yields are ata record low, corrects? >> absolutely not. are within 30 basis points. >> where is the fed balance

sheet going from 800 billion to 4 trilon by the end of this year where is that reflected? i'm going to ask you a few questions and then you can answer please. where is it reflected that the u.s. has aecord amount of outandg debt? why do we deserve t have the -- dennis: let him answer. >> if you look at what bill dudley s which is 500 million , for ery 500 million quantitative easing, approximately 50 basis point lower, right now if you use that math on the 17 trillio we are now somethingn the order of a 4%-set bond rate. so when i looked at is the slac that that presents. in other words, in order to get back to norral fed fund rate in an environment like this that antitative easing has to be back out, andit will take years to get there, michael.

we don't need anything changing. >> what you're saying is you're not at all concerned, and right %-that. bond mart rees with that is the definition a bubble. in 2007 no one was. >> no. he points out that everyone is now talkingng about abubble it' not a bubble because no always talking about a bubble of wedtech crash in 2000. more importantly, can there be bond market collapse, bubble burst if theefed and japan and the ropean central bk continued to buy bonds in this quantitatiie easing? >> let me answer your question. look how far japanese governmen bonds have increased in the pas week? >> i want to let tha. i want to answer. in the bond bubble burst? >> absolutely because if you look at what happened if greece italy, ireland, portugal, spain, all those bond mmrkets blew up and tre was not once major change in policy. >> let me tell you something cirque, america is no greece.

dennis: all right. thank you very much for being with us, gentlemen. up next on "money", it i the puttingechnique at helped win the masters. the british and u.s. open. so-called anchor putting gettin shelled by gulf officials. this outra and why you can never rich edson much "money". stay with us. ♪

♪ dennis: tie for fun with spare change. we have monica and blare. first off, golf banning a putting technique that's money, anchoring putting winning the masters and u.s. open, no longer allowed by the two groups that set the rules. wht do youthink? banned or not? >> well, i know nothing about golf so i'm the wrong person to pine about this, but what i know is that e pga tour ha opposed this ban so their last statement was they said they're going to look at this and possibly reassess. you could have a big conlict in the golf world if thhe pga says we're not going down wi this. dennis: it's a cat fight. >> i'm not a great golfer, but don't discredit champions who won the past fe years, but it's a good rule going forward

t pressure takes of with a putter to the stomach. it ca be helpful. dennis: when the win the tournament, the only guys usig that or everybody can? >> that's why i think it's grea going forward, great in the past, but going forward that, you know, this evens the playing eld for those who didn't have the opportunity to learn with the bell puter. >> golf is an equment thing, why men, thee love equipment, buy gear, and i think this forces them to buy more equipment. >> or learn how to play the game, which is what the argument was. we don't wat any crutches or strapped to the forrm, belll, whatever it mighbe,, that this is a free motion game. that's the rgument. >> really, only affects 2-4% of golfers. >> yes, but they are winners. >> in he tour, four out of six used that. %-a breakthrough technology from the teenager. 18-year-old wins the intel

intertional science and enginring fair with a tiny vice that charges a cell phone in 20-30seconds which would be nice. wha do you say? >> love it on so many levels. first of all, shes a girl. she kicks butt. beat auto1700 contest at that particular times from 70 countrs her at home in the u.s., and, by the way, i'm down with theinvention, to charge your cell phone in 20 seconds, and lord knows wat else we do, car batteries and so much more. dennis: googe is tryin to reach her, 50 grand, and off to harvard. >> i hope it goes to market or apple goes first and weplug in for longer. dennis: good for er, 1 years old, you had te tumblr guy, high school dropout, 27, i salute her the watch once lost, now found,

the james bond watch rom thunder ball up for auction in kristy's in londoo. it was expected to go for a hundred thousand dollars. blare, what do you think? >> a profit margin, 25 pounds-60,000 pounds and it makes it cooler, i'll fto london to get involve >> they only made one of these watches, only one prototype, and now here it is. it's literally one of a kind. dennis: blair, how can we be sure the wat isthe watch they say it is. >> i hink they ca lve that to te professionals there, and i think it goes for full 6 o despite the criticism. ennis: if you get the atch,

come back. thank you fobeing with us. that's all the money we have for you. melissa is back tomorrow, and "the willis report" is next. >> the following is a paid vertisement fostar vista entertainment and time life. >> ♪ i love how your eyes close ♪ ♪ whenever you kiss me ♪ and when i'm m away >> do you remember your first date? >> ♪ she wore blue... >> slow dancing. >> ♪ ...velvet >> and that very rst kiss. >> ♪ johnny angel ♪ how i love him >> it was a special time in your life. it was t teen years. >> ♪ they say that breaking is hard to do ♪ ♪ now i know, i know that 's true ♪