thanks a lot, have a great weekd. gerri: hello, everybody. tonight on "the willis report." the banks are at it again. they figured out atheray to squeeze you. at the atm. also, how do you do that, the best way to avel with your pet. in fashion's night unique way for consumers to buy and give a little back as well. we are watching out for you tonight on "the willis report." ♪ gerri: all that and more coming up, but first our top story tonight, is recovery housing

market coving up a bubble? median home prices are searching up from the year before, sales through the roof. this is certainly not helping curb fears housing is growing too big too ickly. finance professor at george mason university, welcome back to the show, anthony. when the national association of realtors sa prices are growing too quickly, that's a sign of something. what do you say? absolutely. you really have got to pay closer attention to the data, and they are gerri: and 8% hike month to mont which reminds me a lot of 2006, 2005, 2004. is this a bubble? >> let's take a look at this carefully. on the surce, yes. if you look at mortgage applications, still makes 95 levels which means they are in the doldrums.

not coosumers buyi homes, these are investors and wall street, et cetera and paying cash. there is a bubble, absolutely and it is not going away anytime soon. gerr one of the issues at play here are rising interest rates and expectations rising rates could kill this boom. average 30-year fixed-rate mortgages across the country cruising just under 4% in many markets across the count, you look at 3.95% on the st coast, 3.92% on the west coast, big fferences by rion, look at that. and then you start to consider how much of these rates are going to go higher. the expectaon 4.5% early next week, mention what happens if they go to 7% suddenly all across the country these houses are not affordable in cities like denver, los angeles, san francisco, seattle, miami, washington, new yo city.

we are a long ways from that. do you thinkhere are other elements making hoing affordable? >> absolutely. there are two factors that his interest res going up taking it less affordable and house prices are going up a lot faste% than you would think otherwise. the thing i wantou to look at is may 2. ok at any chart since may 2. that is when they lose control of theart, so stks have come down. gerri: s some people say the fed has lost contl. a week ago the fed contro is too much. can you have it both ways, really? >> no, absolutely not. for all the good intentions i come in peace, the fed has don some good. the fed has lowered interest rates and on the housing side have fannie ma freddie mac,

fha, almost 100% domation of the housing market through e government. what do we get? bubbles burst, bubbles burst. gerri: that is what i am worried about. i remember the last time we t into a housing bubble i started looking at those little pieces of evidence something was awry and i found something about that in this market today. we look at the searches on the web for homes, everybody buys homes is way now. in places like palm springs, sacramento, california. we have web search is going on from 4:00 a.m. 10:00 a.m. in astonishing numbers. i find that to be a sign somehow the market might be ahead of itself. what do you think? >> everybody is saying the psychology bubble,he housing prices shooting up there i want

to get on the bandwagon. i thought i saw this in 2004, and we are seeing inventory come back on the market, so i had to get into the housing market now. zero down payment if possible. we are repeating the same cycle. gerri: i agree. we will watch this very carefully and i am sure you will he us. thank you for coming on. we're talking about market psychology of housing, right? some relief after the market got rocked for a second day after the fed shifted from a potential pullback. take a look at that screen rocking out. savings take it on the chin despite a rebound the dow and s&p how do you manage the fear in this marketplace. joining me now, psychologist from fox news to bitter i've known you a long time, wanting to talk market psychology here.

is it our professional investors losing it? >> i think what is happening as investors are making a lot more out of the move that we have seen because we have not even declined by 5%. historically we have a decline of five to 10% every year since world war ii so we are really just doing what we normally do. gerri: i think people have lost thr minds on it. you think about this thing all the time. market psychology, aotf lines in the sand pple say things are crazy. somehow we decided a 4% mortgage rate, over that will kill the market, right? a yield on the 10-year treasury is insaty. what do you say about this psychology? >> i say the reason you have th kind of panic is try telling an alcoholic that there n't going to be any alcohol available for four hours orix hours. in oth words when you are

drugged with free money and irratial interest rates that are artificially low the idea of a pullback brings reality back like wait a second, it has been a bubble. we have been addicted and dependent on government xing the system and guess what, it get their pulses up, they get panicked. they should. gerri: government snding behind the feral reserve ben bernanke keeping the market afloat for four years. we have the transition now to something else, how do we do that as individual investors? >> i think we as individual investors don't have a choice in the matter, we have to be dragged along and it depends on w we respond. gerri: i don't want to be dragged, wants to lead the charge and find the right way to do it. tell me how. >> you don't overreact. what the fed is trying to do is avoid a japan like inflationary

to firlike environment. so the interest rates are artificially l, they didn't hint, they told us the data continues to come in as iis, we will start the tapering program in the later part of this year and and by next year. we're just getng back to a non-stimulus environment. gerri: back to normal really. people feel like it is not back to norral, it is somethg new. how would you advise people to deal with what will be a volatile summer and fall? >> number one get expert advice you don't want to be your own psycatrist or your own financial planner unless you are the other thing is to say look, no kidding to sleep and not having nightmares o were wakingp in the middle of the night should meen you convey to your financial team or advisor the fact he wants to be

conservative, preserved your position, don't be subject to bipolar disorder which is what happens when you sever reality and let your mood float from high to low to high because of artificial government propping up of people, housing and industry you get to come down to ground level and i think people should be telling the financial advisors make a landing as easy asossiblbecause it's coming. gerri: whei think about this because i don't really make decisions based on what the market is doing with my retirement account and savings account. instead i'm always putting money in all the time. so i take out all that anxiety, it's possible i don't even look at it as much as i should. what do you tell people who know we shod not operate off their gut. >> they should be more like you, they should realize we have had clines five to 10% every year since worldar ii and have

months.back to breakeven in two 20 decnes of 10 to 20%, we've gotten back to breakeven in fo mohs. you're probably better off buying then you are bailing the only way you lose money is by selling at the bottom so would say don't let your emotions rule as the other guest was saying you are paying an advisor to hold your hand and tell you not sell at the worst possible time. gerri: last word, what wld you say? >> the last word is this, since weave seen the internet bubble bubble, whenhat first, that was not such a quick recovery, that ruin a lot of people. for the folks at manic high, looks, don't have irrational exuberance either. rain in yourself, plan for stmy weather to come and i agree with my co-guest. don't panic. gerri: keep your head when

others are losing theirs. they make a ton of dough in times like this, this what they live for, this is what they want. youudon't have to play that game, you can be smarterthan wall street and that is what we talk about here all the time. thank you so much for coming on, great advice and great facts. we want to know what you think. do you invest with your heart or your head? log onto gerrillis.com and i will share the results at the end of the ow. we have more to come up including tips on how to bring man's best friend with you on your summer vacation. we have dogs in the house coming to an atm near you, prepaid debit cards. next.

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any moves can haunter history for years to come. join me now with tips to boost your credit score, consumer education present for smart credits.com. lcome back to the show, always good to have you on. i want to start withhe credit scoring, it is a long time. if you have that information, how long is it? >> the crit industry is a self policing industry. when you miss payments w are you have accounts went to default or collections or most cently people going into foreclosure that is a seven ye penalty if youile bankrucy or have a tax en on your credit report or unpaid student loan those can stay longer up to 10 years and unpaid tax liens and defaulted student loan can stay indefinitely uil they are paid. gerri: why do i think the good stuff is away. just my intuition. >> it interesting you bring that up. the federal law that defis

when bad stuff has to be removed from your credit report doesn't adess good stuff, it is silent on good stuff so the credit reporting agencies could maintain good information on your credit reports for ever but theyon't, the bureaus have policies in place they will remove inactive old accounts after a decade which is probably not a big deal becse by then you have likely established other accounts, but there is no guarantee that your old great credit established when you were in your teens or 20s will hang out on your credit report forever. gerri: it doesn't surprise me in the least. what is your number one piece advice for improving the credit score? >> that is an easy one. pick something that is actionable. not a lot you can do about it except for weight. the number one way to improve your credit score v quickly iso pay off credit card debt. that does not mean take it from 20,000 down to zero overnight. if you can chip away at it, you

would be surprised how quickly your score is going to improve because it does not have a memory media does not know you had more debt yesterday then you do today so the minute death goes down, the score is going to go up. gerri: big story today atms will issue prepaid dit cards. if you want to get one of those you have to go to your corner atm and pull it out. we have not been fans because of the fees are not banks charging big-time fees what you make of this move? >> it doest surprise me. eventually you kind of thought the atm machine was going to be used for more than just balance inquiries and taking cash out. the fact some big banks undisclosed at this point are essentially reworking the inner workings of the atm machine to give out a prepaid debit card in addition to cash is a variable

to you can pick and choose what you want doesn't surprise me, another way to monetize the atm machine which they haven't haa way to further monetize ttat machine, n they do. gerri: is means takinmoney out of my pocket and putting it in their pocket. we'rtalking about selling a product or we have toay to get access to mymoney. >> t only, you go to an atm machine unless you a in network you will pay a fee, likely pay a fee to o get ts card because y have activated, load funds onto it, things that cost tem money so they will subsidize it by charging you money. it does not mean that the parade has ended, you'll pay the same fees you pay on a prepaid debit card you purchase at a drugstore you got from your banker on the internet because you wanted to be like one of the pop stars who are selling them now. this is your money, aer-tax

money. now you are getting the bank tax on it to put it on a piece of plastic. gerri: some of the financial advisors as well. we have gotten a lot of attention. i don't want to pay that much for access to my money. >> i don't want to pay anything back. my money. gerri: you know what, it is yr money. >> we agree on that. gerri: have a great weekend. time now for the stories you are clicking on tonight on fox business.com. apparently enough is enough. after eight two-day plunge the market ended in the green today. maybe they won't get so spooked the next and the fed tks about ending stimulus measures. get ready to pay more for your latte. hiking prices by 1% nationally starting on tuesday.

that comes out to an increase of $0.10. for those who drink thosecomment will be more like $0.40. on to the auction block next week. th bidding starts at $300,000 but estimates have it going oser $500,000. 200 computers wereade, only 0 still exist. good nws for alec baldwin, government moving toward easing restrictions on the usof electronic devices during takeoffs and landings. it cou come as soon as september. thosof the hot stories right now on foxbusiness.com. coming up, the government once agaigetting involved in the housing market but are they going too far this time? and we answer the questionhow do you do that? we have doggies onset, people. stay with us. copd makes it hard to breathe...

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♪ gerri:l, d gerri: don't turn your next summer vacation into a guilt trip. leaving behind your furry friends to wreak havoc on your next vacation by bringing along fluffy and fido isn't so easy so how do you do that? joining me now, pet trend allergist. >> thank you for having us. that is hannah, a three-year-old golden retriever, and this is a

six-year-old english toy spaniel. gerri: i know so many people who wants take the dog on vacation, it is not the easiest in the world. >> you have to plan ahead, find a destination that is pet friendly and safe for your dog. gerri: what does that mean? where do you find them? >> start with aaa because aaa has theast book, geat representatives to plan a pet friendly vacation. some are chicago, san diego. there are baseball games in the summertime, a lot of activities, there the beach even in chicago, san diego this week having a surf dog competition, so lots of things to do. gerri: i am kind of reoccupied by the dogs because they are so pretty. wh do you need to do to get ready for the vacation?

>> you want to make sure your dog is accustomed to being in the crate over here or the standard bag which you want to fly with. your dog is protected in the car or flying on the plan. next stop,he end protection very important and i tell people to definitely go with something like triple protection because he wants to make sure he will not be bringing the fleas home soit prevents tics. we have food. food is reallymportant. it is a chicken food. we also like the fact it has meet because it is hydrating for your pets. when you get to a city, can be stressfuwhen you're traveling. your pet will get a protein boost, what food hydrates your pet. gerri: some hotels a very happy to have pets, very happy to have dogs. >> very happy to have pets.

even canine ambassadors. one of the most famous dogs ever that exists, is that is really, really important. you don't want to forget him. the dogs are hing a good ti. last but not least, people are afraid of carrying bed bugs home. lot of times it happens you have your crate where you have for example your bag people put tm on the hotel rug. i suggest you put the bag or the crate in the bathroom with your food and water bowl. this way the bed bugs wonon't go in your bag or your crate. also, bed dog spray it will not harm the dog and spray it on the bottom of your crate or your caier bag.

i don't thinmy husband would be happy if i came home without hannah. gerri: thank you so much for coming on, it has been a pleasure having all of you here. >> thank you for having me. gerri: coming up, don't fall for it, why you shouldn't pay somebody to take care of your student loans for you. and the stat state of california seizing mortgages claiming imminent domain. next. n ne tht. ♪ [ male announcer ] if you suffer from dry mouth then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that theack of saliva can also lead to tooth decay and bad breath? [ eales deeply ] [ male announcer ] well there is biotene. specially formulated with moisrizers and lubricants,

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now, instead of folks losi homes to foreclosure, they buy it an cut the loan principle to match the current property value so you pay the local government. is it legal? with us now the attorney dwien case, and liz weil. dwyaneings you say the point is there needs to be a way to force lenders to make decisions that are good for them. tell mewhat you mean by that. >> well, you know, some of the lenders, some of the hings are in a trust, and they can't write them back by law. if they follow the trust, they couldn't do it. there's got to be a way. they want to in a lot of cases write it back, and they can't it on their own so there needs to be a mechanism, and this just seems like a way to it. number one, the government started this mes and we have given -- rri: forcedd the finger of a ot of people, my friend. >> i have to become very clear with you, i don't like imminent domain, full disclosure because

generally the federal government comes in and takes your land, your property, your mall, whatever it is, because the need to build a road or do something, and they don't compensate you. gerri: it's the local government that wantsto run the program. >> it's worse. if local governmt runs it, how do we know what the caps and balanc are in the local government? i'm sorry, i don't trust the idea. gerri: dwyane, it's interesting because here's wat's going on here. in the name of helping people who are underwater, and i've read the, you know, in the local newspapers, the editorials where the writers say, yu know, look, we have to save the communities because other side they are going to go down the tubes. what do you think? >> well,nd they are going down the tubes, you know? you know, i got an example. i had a client that owed 1.5 million on his house, and he tried to settle it with tlen dore for a milli, which is the 500,000 that he paid the lender which was everybody breaks even and startover again, and the lender said, no, went into foreclosure, and the lnder lost

$250,000, ad the house set vacant in a community, a high end community for a year and a half, and kiled everybody else's property value. >> i'm sorry about that, and slippery slope argunt.re's the you allow imminen domain, which should be rarely used, in this context, thenthe next time, the next time, local governments and municipalities use as the federal governmentse add eminent domain, go in, and take your stuff. >> it's going to be supervised by court. the government just dent get to go in and do whatever they ant. they are goingto have to etup parameters and what qualifies. gerri: i have a real estate question here. supervid by courts does not make me feel better. talkabout real estate. the editorial said, look, these communities are going down the tubes because the people are underwater, andnow these particular programs are -- it's all being suggested by company called mortgage resolution partners. they are the people selling the

idea all over the country. what they say is, you know, t se communities will be better off. how are the communities going to be better off, wyane when at the end of the day you talk about people who have a very difficult time even affording the house. how do they maintain pooerties? net-net, this is not a benefit for the community, is it? >> oh, absolutely it's a beefit for the community. if they wri that mortgage back, now these people have flibility. they can sell their house. gerri: no, wait -- >> then they can downsize. >> the gernment coming in in a local municipality stage and taking people eats stuff, their house, is hat good for the government? >> they are not taking the house. wait a minute. you are way off. >> no, i'm not. >> they are not taking house, but t mortgageaway om the mortgage company. the mortgage. >> they are not taking anybody's house. yo get to keep the house, hen repacke it, drop it down to where you are not underwater, and sell it to the another mortgage company. you can sell the house when you

are done. >> it's the concement of imminent doe domain, a frightening thing for people. >> i agree 100%. rri: very fright ping. to my way of thinking, if the government takes myouse, i can't think of anything scrier, but here, dwyane, is a problem. here's one of the probles. so we have seen a number of federal programs to try to help out people who ar behind on mortgages, underwater, who can't y, don't wt to pay, they have not wored. they have been a stunning lack of success in that category. why would this be any different? >>well, it probably won't. i'm a free market person myself. i think free markets oht to take over this burks the problem is e have gone way pas allowing the free market to work. gerri: a-plus for effort. >> we have to do something to help these people. gerri: do we? >> no, no not with the government. gerri: can't the market work its way through, i mean, really. >> let's just let all the

foreclosures go and start another cycle of-- >> it doesn't start another cycle, but ends the od, doesn't it? >> a-plus for effort gerri: dwyane, you have been patient with us. thank you for arguing the pro side on this network. i appreciate it. >> two against one. gerri: it's tough, i know. okay, thanks for coming on tonight. happy weekends t both of you. here's a question that i thought of. do you love your job? i do, but most of us, well, they don't. a recent gallup poll shows a third are completely satisfied at work, but some cities have more happy workers than others. that list is tonight's top five, number five, washington, d.c.. they may be satisfied with the jobs, but they are not doing them. wi budget cuts, nearly 7500 employers are hiring. number four, salt lake city. the health care workers in the city are the most satisfied. number three, more than 4,000 employers in seattle hire, and

zillow is the best to work for. you know them. san fransisco, residents always seem to be happy. i lived here. i as. u have to drive an hour south to get the number one city with the st saisfied workrs, san jose, californrnia. it's hard not to be happy when the biggest employers in the city are stanford university and google. bottom line, if you want to be happy at the job, move west or get elected to congress, i guess. still to come, tw crepts more and warning for grads and as well asm da well asm da don'go away atd, wtevebusiss y're inthat theusins wee in with premium service like one of the best on-time delivery records and a low claims ratio, we dood. helping the world make your bukeep promises.iness.

how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a 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 retirement age. ♪ the question is how do you make sure you have the money u need ♪ the question is how do you make sure you have the money u need if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. you ow, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powderours. does not replace fast-acting inhalers for sudden symptoms.

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♪ gerri: scamming borrowing struggling to repay student loans. that's what a new report from consumer watchdog is charging to firms offering debt relief. some frms reportedly charging customers initial fees of up to 1600 bucks for servis they could get for free. with more op this, senio vice president and publishers of

e-advisers.com. mark, thank you for coming back on the show. you kw, i look at this, and i think here we go again. you know, we've seen these scammers just generally targeting people who have trouble with debt, but now they are smart enough to know students have accumulated a trillion dollars in debt going after those folks. what do you think of it >> >> it's outrageous. they charge a fee for something the goernment provides for free, and the overnment provides consolidation, income-based repayment, rehabilation of defaulted loans all for free. gerri: well, let's look at what some of the folks are doing because they are charging high fees for programs that are free, as you say, selling a one-size fits all approach, the same answer for everybody, provide inaccurate information telling you things about the government prrams that are not true, discouraging borowers from handling their open cas, and focusing op sales, not counseling. w did the, i guess you would say companies, typically approach students and people withtudt loan debts? >> well, some advertise on tv

@%th names that are similar to the federal governent's direct loan program. u hear these advertisements for services tha the government offers,but it's as though these outfits provide the services instead of simply giving you the federal government income based repayment plan. gerri: do you have an example of a name? >> just try googling consolidation loans or debt relief, and you'll find dozens of them. they started popping up n the last few years. gerri: unbelievable. you knw, we try to avoid not talking about scams that, you know, you'd have to be stupid to fall for, but this may not be anything that -- this may be a scam people could fall for because when you talk about students and debt, they ften don't know what to do. what government programs are there out there for people who are in over their heads? >> well, first of all, there's deferments and forbearances,

temporary suspensions of the obligation to repay the debt. y ca consolidate with the direct loan program at loanconsolidioned.gov where the monhly payment is based on income opposed to the amount you owe. if you happened to have defaulted, there's loan rehabilitationprograms and opportunity to settle for less an the amount you owe. all available for free from th fedeal government. >> all available for free from the federal gornment. you kn, a lot of people wh watch this show don't likehe programs because at the end of the day peole on't repay debt owedded to the federal government, but for goodness sakes, don't get taken by a scammer; right? >> absolutely, and th -- i fault the federal government for not advertising the programs more. i mean, there's room for the scams to exist simply because the government doesn't tell borrowers about all the options that are available. gerri: thanks for coming on and explaningthat to our viewers

mark, and we'll put the e websis on our website, gerriwillis.com so people know where to go. thank you. tnk you. gerri: on to this day in business history. in 2003, the fifth harry potter book, "harry potter and order of the phoenix" was published, and amazon shipped out more than 1 millioion copies, the largest distribution day of a single item in e-commerce history. wow. with 38 chapters long, it's the longest book of the eries, total of 55 million copies sold, and in 2007, the film opened to a wrldwide five-day opening of 333 # million dollars raking in close to a billion dollars in all. the fifth harry potter book, "harry potter order of the phoenix" published today, june 21st, that is, just ten years ago. think longer. two cents more and fashion friday. loong at the new line of clothes designed for little girls and theirbi imagitions. stay with us.

♪ ♪ ♪ there a pursuit we all share. a better life for your famil a better opportunity for your business, a better legacy to leave the world. we havalways believed in this pursuit, striving to bring insight to every investment, and integrity to every plan. we are morgan stanley. and we're ready to work for you.

gerr in fashion with owner of online shop helping girls express individuality and helping a gogógógógógógó

♪ gerri: in fashion tonight, kidswear with a twist. the online sop, polka dot, what? allows kids to design thir own leggings with their own

personality. we have the ceo of polka dot what. whht is it? >> well, it is a lekkings line for girls ages 2-10 years old, and what we do is aim to empower creativity ad instill self-esteem and give back at n earlyge. gerri: they are so cute. >> thank you. gerri: different colors, one leg is one color, the other leg another color, it's sweet, and the kids pick what they want; r; right? >> yes, we offer a template for kids to go online and pick from a selection of styles and colors and print and ll the colors and prints are given empowering names and personality taits so they can choose on it based on who thy think they are. rri: started this at two years ago now? >> yes. gerri: on like right now, but the big success, your breakthrough is getting these dudsn the bodies of celebrity kids. >> exactly.

gerri: if i learned one thing from the fashion segment, it's getting to celebrities is key to success for fashion designers. how did you do it? >> definitely. i workedded with a wonderful pr copany in l.a. called good karma studios able to see my products to all the celebrities, and just by luck,i got a google alert that halle berry, her daughter was wearing our unique and sweet leggings, and lou was wearing our awesome and sweet leggings here. just by luck got lucky, and it was wonderful. >> reporter: your background's in advertising, but what surprised you about running a business that maybe you had not encountered before? >> what was challenging is i started this alone. i, you know, did evrything my myself. i didn't have a team or partner to start with. it as me running to factories, fulfilling all the orders, and doing all the finances and fixing web errors on the ite if there were any, handling customers, and so it was

challenging doing this on my own, but i have ateam now to rely on and work with on a day-to-day basis. gerri: that startup is difficult. you were doing something interesting making goods overseas, and nex year, everything is going to return to the u.s. for manufacture here. why? >> we really believe in made in america prduct, and, you know, obviously, spporting job growth in the u.s. as well. the great thing about it, you know, the first two collections were done in the u.s., and at i loved about that was the fact i we to the factory throughout the whole process, touch, feel the fabrics and correct things as we go. youknow, it was tough dealing with international factories with the laguage and the time diference and ll that, so this is great. gerri: ou need to be right there and know exactly everything that's happening. >> exactly. gerri: another interesting thing is lunchbox. >> sure, 10% of the profits go to lunchx fund, a noprofit organization based in south africa and provide daily meals

to school children in at-risk areaa in south afric what, you know, how it works is five meals are proded to these kids in these schools in south africa for evey ppair of leggings that are sold. gerri: that's fan ta now, what is, you know, the next stage for the company? are you goong to make tops now? we have leggings, hat's next? >> well, we starte th leggings only as you can see, and now with the great reesponse received from parents and children and celebrities, we are going to be expanding to tops and dresses as o next year, spring/summer 2014 #, expanding into the retail market and hopelly do some retail overseas in south africa, again, where the charity is based,and personally expanding the polka dot web family. gerri: you are pregnant. congratulations. >> thank you so much. gerri: on your company, and good luck with the family. >> thank you so much. gerri: fun to see what you are

doing. people will get a kick out of it p > definitely, thank you, appreciate it. gerri: thank you. we'll be right back with my two cents more and answer to the question of the day, do you invest with your head or your heart? ith yr head or your heart ♪ wi the spark miles car [ male announcer ] the mercedes-benz summer event is here. n get the unmiakable thrill and the incredible rush of e mercedesenz you've always wanted. ♪ [ tires screech ] but you better get here fast. [ girl ] hey, daddy's here. here you go, honey. thank you. [ male announcer ] because a good thing like this won't last forever. mmm. [ male announcer ] see your authorized dealefor an iredible offeon the exhilarating c250 sport sedan. but hurry. offers end soon. from capital one... boris earns unlimited rewards for his small business. can i get the smith coract, ease? thank you. that's three new paper shredders. [ boris ] put 'em on my spark card. [ garth ] boris'mall business earns 2% cash back

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gerri: a fox business alert for you now. the food network announcing it will not renew paula deens contract amid the controversy surrounding the admission of using racial slurs in the past. the announcement coming about an hour after deen posted online the first of two videotaped apologies to try to repair that damage. it all came ot as a result f court documents for discrimination lawsuit filed last year by a former employee revealing deen admitted to using the "n" word saying, yes, course, b it's been a very long time. the contract with he network airing three shows featuring the

66-year-o's ief expires at the end of the month. well, after a two-day stock plunge, stocks are much more stable today moving between small gains and losses, so do you invest with your hear or like yesterday with your head likeoday. we asked the question on gerriwillis.com, and 9 said heart, 91 said heart, huh, okay, i believe you. california wries just discovered your show, keep up the great work, an i'll continue to watch. thank you, wade. haik from new york says to solve the overdraft free, don't overdraft. use a credit car a small balance in the checking account, and as you write checks, transfer that to your savings. simple, he say david from pennsylvania agrees. eaiest way to aid fees on the debit card, have the bank set the account so if you attemptto use the debit card without the money in the account to cover transactions, the transaction is denied. wouldn't that be great? just do it that way.

once i did that, i never had the fee again. we loveheari from you. e-mail me. finally, you may be breathing a sigh of relief after the dow industrials ended higer tonight. wel 40 points higher, pain ma only be beginning, and that's because the yield on the ten-year treasury was p 40 points this week, a lot. that is a biggest rise since 2003 a decadeago. the bond story may well be the bigger issue for most of us consumers. you know, we can sitout the noiso stock gyrations, leave the worry to professional traders, the ones who make the money on the gyrations, but you and i, we can't gore higher mortgage rates. whether you are underwater or eager to buy, highr rates could hurt the housing recovery helping the broader economy. one report this week had individual investors throwing in the ttwel on 17 # billion in bond fund investments. before you giv in, remember this, the high education ever mortgage rates acording to

freddie mack back in early october of 81. 18.6%. hey, things could be worse. that's my two cents more. that's all for toight's willis report. hahave a grea >> who do you trust from the leader you a supposed to trus may be can't he trusted? president obama: when it comes to telephone calls nobody's listening to your telepho calls. that is not for this program is about. charles: tonight the proof the government i listening in and that's exactly what the nsa ogram is all about. welcome, everybody, i'm charles payne in for neil cavuto. the documents show the nsa is listening in on phone calls and collecting e-mails from ornary americans and worse yet it is holding onto these recordings for five years. reason magazine says it is tough