listen live show. we're on ery week day from:00 to 6:00. we'll he another great tv show are next week, in t t t t . thanks a lot, have a great weekend. gerri: hello, everybody. tonight on "the willis rort." the banks are at it again. they figured out another wayo squeeze you. at the atm. also, how do do that, the best way to travel with your pet. in fashion's night unique way for consumers to buy and give a little back as well. we are watching t fo you tonight on "the willis report." ♪ gerri: all tt and more coming up, but first our top story tonight, is recovery housing

market covering up a bubble? median home prices are searching up from the year bere, sales through the roof. this is certainly not helping curb fears hoing isrowing too big too quickly. finance professor at george son university, welcome back to the show, anthony. when the nationaassociation of realrsays prices are growing too quickly, that's a sigof 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 month which reminds me a lot of 2006, 2005, 2004. is this a bubble? >> let's take a look at this carefully. on the surface, yes. if you look at mortgage applications, still makes 95 levels which means they are in the doldrums. not coosumers buying 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. gerri: one of the issues at play here are rising interest rates and expectations rising rates couldill this boom. average 30-year fixed-rate mortgages across the country cruising just under 4% in many markets acss the country, you look at 3.95% on the east coast, 3.92 on the west cst, big differences by region, look at that. and thenou start to consider how much of these rtes are going to go high. the expection 4.5% early next week, mention what happens if they go to 7% suddenly all across the country these hous are not affordable inities like denver, los angel, san francisco, seattle, miami, washgton, new york city.

we a a long ways from that. do you think there are other elements making housing affordab? >> absolutely. there are two factors th his interest rates going up taking it less affordable and house prices are going up a lot faste% than you would think otherwise. the thing i want you to look at is may 2. look at any chart since may 2. that is when they lose control ofhe market, so stocks have come down. gerri: some ople say the fed has lost control. a week ago the fedcontrol is too much. can u have it both ways, really? >> no, absolutely not. for all the good intentions i come in peace, the fed has done me good. the fed has lowered intt rates and othe housing side have fannie mae, freddie mac,

fha, almost 100% domination of the housing market through the govement. what do we get? bubbles burst, bubbles burst. gerri: that is what i am worried about. i remember the last time we got into a housingubble 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 this way now. in places like palm springs, sacramento, california. we have web arch is going on from 4:00 a.m. to 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, the housing prices shooting up there i want to getn the bandwagon.

i thought i saw thisn 2004, and we are seeing inventory come back on the market, so i had to get into the housing market now. zero down paent if possible. we are repeating the same cycle. gerr i agree. we will watch this very carefully and i am sure you will help us. thank you for cong 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 ta it on thehin despite a rebound in the dow and s&p so how do you nage 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 thi what is happening as investors e making a lot more out of the move thawe hav seen because we have not even declined by 5%. hiorically we have a decline of five to 10% every year since world war ii so we are really just doing whawe normall do. gerri: i think people have lost their minds on it. you think about this thing all the time. market psychology, a lot of lines in the sa people say thin are crazy. somehow we decided a 4% mortgage rate, over that will kill the market, right? a yield on the 10-year tasury is insanity. what do you say about this psychology? >> say the reason you have that kind of panic is try telling an alcohol that there isn't going to be any alcohol ailabl for four hours or six hours. in other words when you a

drugged with free money and irrational interest rates that are artifiay low the idea of a pullback brings reality back li wait a seco, it has been a bubble. we have been addicted an dependent on government fixi the system and guess what, it get their pulses up, they get panicked. they should. gerri: government standing behind the federal reserve ben bernanke keeping the market loat for four years. we have the transition now to something else, how do wdo that as individual investors? >> thihink we as individual investors don't have a choice in the matter, we have to be dragged along and it depends on how we respond. gerri: i d'tant to be dragge wants to ad the charge and find the right way to do it. tell me how. >> you don't overreact. what the fed itrying to do is avoid a japan like inflationary

to firlike environment. so the interest rates are artificially low, they didn't hint, they told us the data continues to come in ast is, we wilstart the tapering program in the later part of this year and and by next year. we're just getting back to non-stimulus environnt. gerri: back to normal really. people feel like it is not back to norral, it is something new. how would you advise people to deal with what will be a volatile summer and fall? >> number one to get expert vice you don't want to be your own psychiatrist 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, pserved your

position, don't be subject to bipolar disorder which is wha happens when you sever rlity and let your mood float from gh to low to high because of articial government propping up of people, housing and industry you get to come down to groundevel and i think people should be telling the financial advisors make a landing as eas as possible because it's coming. gerri: when i think about this because i don't really make decisions sed on what the market is doing with my retirement account and sangs account. instead i'm always putting money in all the time. so i take out all at anxiety, it's possible i don't even look at it as much as i should. what do you tell people who know we should not operate o their gut. >> they should be more like you, they should realize we have had declines of five to 10%very year since world war ii and have months.back to breakeven in two

20 declines of 10 to 20%, we've gotten bac to breakeven in four months. you're probably better off buyingng then you are bailing te onlyay you lose money is by selling at the bottom so i would say don't let your emotions ru as t other guestas saying you are paying an advisor to hold your hand and tell you not to sell at the worst possible time. gerri: lasword, what would you say? >> the last word is thi since we have seen the internet bubb bubble, when that first, that was not such a qui covery, that ruin a lot of people. for the folks at manic high, looks, don't have irrational exerance either. rain in yourself, plan for stormy weather to come a i agree with my co-guest. don't panic. gerri: keep your head when

hers are losing theirs. they make a ton of dou in times like this, this is what they live for, this is what they want. youudon't have to play that game, you can be smarter than wall street and that is what we talkbout here all the time. thank you so much for coming on, great advice and great facts. we want to know whatou think. do you iest with your heart or your head? log onto gerriwillis.com and i will share theesults at the end of the show. we have more to come up including tips 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. @í0x;

♪ gerri: we aki gerri: we are looking out for your credit score tonight. y moves can haunter history

for years tocome. join me now wi tips to boost yourredit score, consum education present for smart credits.com. welcome back to the showalways good to have you on. scoring, it is a long me.credit if you have that information, how long is it? >> the credit industry is a self policing industry. when you miss payments w are you have a accounts went to defat or collections or mosrecently people going into foreclosure that is a seven year penalty. if you fileankruptcy or have a talien on your credit report or unpaid student loan those can stay longer up to 10 years and unpaid tax liens and defaulted student lo can sy indefinitely until they are paid. rri: why do i k theood stuff is away. just my intuition. >> it is interesting you bring that up. the federal law that defines

when badtuffas to be removed from your credit report doesn't address good stuff, it is silent on good stuff so the credit reporting agencies could maintain good informion on your credit reports for ever but they don't, the bureaus have policies in place they will remove inactive old accounts after a decade which is probably not a big deal because bthen you have likely estabed other accounts, but there is no guarantee that ur old great credit established when you were in your teens or 20s will hang out on your credit report forever. gerri: it doesn't surpse me in the least. at is your number one piece of advice for improving the credit score? >> that is an easy one. ck something that is actionable. not a lot you can do about it except for weight. the number one way to improve your credit score very quickly is to pay off credit card debt. that does mean take it from 20 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 memoryedia 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 debit cards. if you want get one of those you ha to go to your corn atm and pull it out. we havnot been fans because of the fees are not banks charging big-time fees what you make of thisove? >> it doesn't surpri 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 atmache to give out a prepaid debit card in dition 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 had a way to further monetize ttat machine,ow they do. gerri: is means taking money out of my pocket and pti it in eir pocket. we're lking about selling a product or we have to pay to get access to my money. >> not only, u go to an atm machine unless you are in network you will pay a fee, likely pay a fee to get this card becauseou have activated, load funds onto it,hings that cost them money so they will subsidize it by chargingng you moy. it does not mean that the parade has ended, you'll pay the same fees you pay on prepai deb card you purchase at a drugstore you got fr yourbanker on the internet because you wanted to be like one ofhe pop stars who are selling them now. this is your mey, after-tax

money. now you are gettg the bankax on it to put it on a piece of plastic. gerri: some of the fancial 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 wanto pay anythi back. my money. gerri: you know what, it is your money. >> we agree on that. gerri: have a great weekend. time now for the stories you are clicking on tonig on fobusiness.com. apparently enough is enough. after eightwo-day plunge the market ended in the gree today. maybe they won't get so spooked the next and the fed talks about ending stimulus measur. get ready to p more for your latte. hiki 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. the bidding starts at $300,000 but estimates have it going closer to $500,000. 200 computers were made, only 0 still exist. good news for alec baldwin, government moving toward easing restrictio on the use of electronic dvices during keoffs and landings. it could come as soon as september. those of the hot stories rig now on foxbusiness.com. coming up, the government once again getting involved in the housing market but are they going o far this time? and we answer the question, ho do you do that we have doggies onset, people. stay with us. [ larry ] unow throughout history,

folks have suffered from frequenteartburn but now, thas to treating with prilosec otc, we don't have to suffer like they used to. ♪ [ hse whinnies ] gettingeartburn and then treating day after day is thing of the past. block the ad with prilosec otc, and don't get heartbn in the first place. we've surcome aong y.

♪ [ le announcer ] one pill each mornin 24 hours. zero heartburn.

gerri: tveling with your 4-legged friend can be stressful.

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

six-year-old english toy spaniel. rri: i know so many people who wants to take thdog on vacation, it is not the easiest in the world. >> you have to plan ahead, find a destination that is t friendly and safe for your dog. gerri: what does that mean? where do you find them? >> start with aaa becauseaa has the past book, great represtatives to plan a pet friendly vacation. some are chicago, s san diego. there are baseball gamesn the summertime, a lot of activities, there is the beach even in chicago, san diego this week having a surf dog competition, so lots ofhings to do. gerri: i a kindf reoccupied by the dogs because they are so pretty. what do you need to do to get ready fo 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 t car or flying onhe plan. next stop, the end protection very iortant and i tell peopl to definitely go with mething like triple protection becau he wantso make sure he wl not be bringing the fleas home so it prevents tics. we have food. food is reallymportant. it is a chicken food. we also like the fact it has meet because iis hydrating for your pets. when you get to a city, can be stressful when you're traveling. your p will get a protein boost, what food hydrates your pe gerri: some hotels are very happy to have pets, very happy to have dogs. >> very happy to have pets.

even canine ambassadors. one of theost famous dogs ever that exists, is that is really, really important. you don't want to forget himim. thdogs are having a good time. last but not least, people are afraid carrying bed bugs me. lot of times it happens you have your crate whe you have for example your bag peop put them on the hotel rug. i suesyou put the bag or the crate in the bathroom with your food andater bowl. this way the bed buon't go in your bag or your crate. also, bed dog spray it will not harm the dog andnd spray it on e boom of your crate or your carrieag.

i don't think my husband would be happy if i came home without haah. gerri: thank you so much for coming on, it has been a pleasure having all of yo here. >> thank youor 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. ♪

from our fobusiness stiewdz in new york, here, again, is gerri willis. gerri: growing number of states are taking another look at using imminent domain to seize underwer morgages. now, instead of folks losing

homes to foreclosure, they buy it and cut the loan principle to match the current property value so you pay the ocal government. is it legal? wh 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 ecisions that are good for them. tell me what you mean by that. >> well, you know, some of the lenders, some of the things 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 do it on their own so there needs to be a mechanism, and this just seems like a way to do it. number oe, the government started this mess, and we hae given -- gerri: forced the finger of a lot 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 mes in and take your land, your proerty, your mall, whatever it is, ecause they need to build a road or do something, and they don't compensate you gerri: it's the local governme that wants to run theprogram. >> it's worse. if local goernm runs it, how do we now hat the caps and lances are in the local vernment? i'm sory, i don't trust the idea. gerri: dwyane, it's interesting beca here's what's going on here. inhe name of helping people who are nderwater, and i'v read the, you know, in the local newspapers, the editorials wher the writers say, you know, look, we have t save the communitie because other side they are going to go down the ubes. what do u think? >> well, and they are going down thetubes, ouknow? you know, i got an example. ihad a lint that owed1.5 million on his house, and he tried to settle it with thelen dore for a million, which is the 500,000 that he paid the lender which was everybody breaks even and start over again, and the lender said, no, went io foreclosurure, and he lender lot

$2,000, and the house set vacant in a community, a high end community for a year and a half, and killedeverybody else's property valu >> i'm sorry about that, and slippery slope argument.'s he you allow immint domain, whih shld b rarely usd, in this conxtn the next time, he next time, local governments and municipalities use as the federal government use add eminent omain, go in, and take your stuff. >> it's ing to be supervised by court. the government just dent get to go in and do whatev they want. they are going to have to et up paramete and wt qualifies. gerri: i have a real estate question here. supervised by courts does not make feel better. talk about ral estate. the editorial said, look, these communities are going down the tubes because the people are underwater, nd now these particular programs are -- it's all being suggested by a company called ortgage resolution partners. they are the people selling the

idea all over the country. what ey say is, you knw, this will save those people, and the communities will be better off. how are the communities gointo be better off, dwyane when at the end o the day you tak about people who have a very difficulttime even affording the hous how do they maintain rooerties? net-net, this isnot a benefit for the community, is i >> oh, absolutely it's a benefit for the community. if they write that mortgage back, now these peo have exibility. they can sell their house. gerri: no, wait -- >> then they can downsize. >> the government coming i in a local munipaty stage and taking people eats stuff, their hous is that good for the government? >> they are not taking the house. wait a minute. you are way off. >> no, i'm not. >> th a not taking house, bu the ortgage away from the mortgage c company. >> the mortgage. >> they are not taking anybody's house. you get toeep the house, then repackage it, drop it dow to where u ar not underwater, and se it to the another mortgage company. you can sell the house when you

are done. >> it's the con cement f imminent doe domain, a frightening thing for people. >> i agree 100%. gerri: very fright ping. to way of thinking, if te government takes my house, i can't think of anything scarier, but hee, dyane, is a roblem. here's one o the problems. so we have seen a number of federal programs totry to help out people who are behind on mortgages, underwater, who can't pay, don't want to pay, they have not worked. the have been a stunning lack of success in that cegy. why would this be ay different? >> well, it probably won't. i'm a free market person myself. i think free markets ought to take over this burks the prblem is we have gone way past allowing the free marketo work. gerri: a-plus for effort. >> we have to do something to help these peopl gerri:do we? >> no, no, not with the govement. ger: 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 cyc, but ends the old, doesn't it? >> a-plus for effort gerri: dwyan you have ee patient with us thank you for arguing he pro ide on this network. i appreciate it. >> two against one. gerri: it's tough, i know. okay,thanks for cming on tonight. hahappy wekends to both ofyou. here's a qestion that i thought of. do you love ur job? i do, but most of us, well, they don't. a recent gallup poll shows a third are cmpletely satisfied at work, but some cities have re happy workers than others. that list is tonight's top five, number five, washington, d.c.. they may besatisfied with the jobs, buthey are not doing them. with budge cuts, near 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 towork fr. you know them. san fransisco, residents always seem to be happy. i lived there. i was. you have to drive an our south to get the number onecity with the most satisfied workers, san jose, california. it's hard not to be hppy when the biggest employers in the city are stanford university and googl bottom line, if you wat to be hay at the jo, me west or get elected to congress, i guess. still tocome, tw crepts more and warning for grad and as well as mom and dad.

♪ gerri: scamming borrowing struggling to repay student loans. that's what a new report from consumer watchdogs charging to firms offering debt relief. some firms repordly chargin customers initial fees of p to 1600 bucks fo sevices they could get for free. with morep tis, senior vice president and pubishers of e-advisers.com.

mark, thank you for coming back on the show. you know, i look atthis, and i think here we goagain. you know, we've seen thes scammers just geerally targeting people who have trouble with debt, but now thy are smart enough to now students have accumulated a trillion dollar in d going after those folks. at do you think of it >> > it's outrageous. they chrge a fee for sometng the government provides for free, and the government provides conolidation, income-based repayment, rehabilitation of defaulted loans ll for free. gerri: well, let's lk at what some of the folks are doing because th are charging high fees for programs that are free, as you say,selling a one-size fits all approach, the same answer for verybody, provide inaccurate information telling you things aboute government programs that are not true, discoaging borrors from handling their open cases, and focusing op sales, not counseling. how did these, i guess you would say comanies, typically approach students and people with student loan ebts? well, some advertise on tv @%th names th are similar to

the federalgovernment's direct loan program. you her these advertisements for ervices that the government offers, but it's as though these outfits provide the services instead of simp giving you the federal government income based repayment plan. gerri: do you have an example of a name? >> just try gogling consolidation loans or debt relief, and you'll find dzens o them. th started popping up in the last few years. gerri: unbelievable. you know, we try to avoid not talking about scamsthat, ou know, you'dhave to be stupid to fall for but this may not be anything that -- this may be a scam people could all for because en you talk about students and debt, they often don't know what to do. what government programsare there out there for people who are in over their heads? >> well, first of all, ther's deferments and forbearces, temporary suspensions of the

obligation to epay the debt. y can consolidate with the directoan program at loanconsolidationed.gov where the monthly payment is based on income opposed to the amou you owe. if you happened to have defaulted, there's loa rehabilitation programs and opportunity to settle for less an the amount you owe. all available for free from the federal government. >> all available for freefrom the federal government. you know, a lotof people wh watch this show on't like the programs because at the end of the day peole don't repay debt owedded to the feral government, but for goodness sakes, don't get taken by a scammer; right? >> absolutely, and the -- i fault the feral government for t advertising the programs more. i mean, there's room for the scams to exist simply because the government desn't tell borwers about all the otions that are available. gerri: thanks for coming on and explanining that to our viewers

mark, and we'll put the websites on our wbsite, gerriwillis.com so people know where to go. thank you. >> tnk you. gerri: onto this day in business htory. in 2003, the fifth harry potter book, "harry potter and order of the phoenix"was publshed, and amazon shipd out more than 1 million copie the largest stribution day of a singl item in e-commerce history. wow. with 38 cchapters long, it's the longest book of the series, total of 55 milllion copies soo, and in 2007,the fim openedtto a worldwide fie-day opening of 3 # million dollars raking in close to a billn dollars in all. the fifth hrry potter book, "harry potter orderf the phoenix" published today, june 21st, that i, just ten yea ago. think onger. two cents more and fashion friday. looking at the new line of clothes designed for ltle girls and ther big imaginations. stay with us.

♪ ♪

gerri: in fashion with owner of an online shop helping girls express individuality and helng ago

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

personality. weave the ceoof polka dot what. whht is it? >> well, it is a lekkings line for girls ages 2-10 ye old, anwhat we do is aim to empower creativity and instill self-esteem and give back at an early age. gerri: they are so cute. >> thank you. gerri: differentcolors, one leg is one color, the other leg another color, its sweet, and the kids pick what they want; r; right? >> yes, we offer a template for kids to go online and pick from selection of styles and colors and prints,and all the cos and prints are given empowering names and personality traits so they can choe on it based on who they think they are. gerri: started ths at two years ago now? >> yes. gerri: on like rght now, but the big success, your breakthrough is getting these duds on te bodies of celebrity kids. >> xactly. gerri: if i learned one thing

fr the fashion egment, it's getting to celebrities is key to success for fashion dsigners. how did yodo it? >> definitely. i workedded with wonderful r company in l.a. called ood karma stdios able to see my products to all the clebrities, and just by luck, got a google alert that halle berry, her dauger was wearing our unique and sweet leggings,and lou was wearing our awesome and sweet leggings here. just by luck got lcky, and it was wonderful. >> reporter: your backgrouns in advertising, but what surprised you about running a biness that maybe you hadnot encontered before? >> what as chllenging is i started this alone. i, you know, did everything my myself. i didn't have a team or partner to start with. it was me running to factories, fulfilling all the orders, and doing all the finances and fixing web errors on the site if there were an, hndli customers, and so it was challenging doing this on my

own, but i have a team nw to rely on and work with on a day-to-day basis. gerri: that startup s difficult. you were doingomeing interesting making goods overseas, d next year, everything is goingo return to the .s. for manufacture here. why? >> we really believe in made in america product, and, you know, obviously,suporting job growth in the u.s. as well. the great thing about it, you know, th first two collections were done in the us., and what i loved about that was the act i went to the factry throughout the whole process, ouh, feel e fabrics and correct things as we go. you know,t was tough deali with international factories th the language and the time difference and all that, so this is great. gerri: you need to be right the and knowxactly everything that's happening. >> exactly. gerri: another interesting thing is unx. >> sure, 10% of the profits go to lunchbox fund, a nonprofit organization based in south aica andprovide daily meals to school children in at-risk

areaa in south africa. what, you know how it woks is five meal are provided to these kids in these schools in south africa for every pr of leggings that are sold. gerri: that's fan tas pick. now, what is, you know, the next stage for the company? are you goong to make topsnow we have legings, what's next? >> well, we started with eggings only as you can see, and now with the great response received from parnts and children and celrities, we are going to be expanding to tops d dresses as of next year, spring/summer 014 #, expanding into the retal market and hopefully do some retail overseas in south africa, again, whe the carity is based, and personally xpandi the polka dot web family. gerri: youare prenant. congratulations. >> thank you so much. gerri: on your company, and good luck with e family. >> thank you so much. gerri: fun to see what ou 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 eson of the day, do you invest with your head or your heart? ith yr head or your heart ♪

gerri: a fox business alert for you now. the food network announcit wi not rnew paula deen's contract amid the cntroversy surroundg the admission of using racial slurs in the past. t announcement coming abt an hour after deen posted online the firstf two videotaped apoloes to try to repair that damage. it all came out as a result of court documents for scrimination lawsuit filed last year by a former employee revealing deen admitted to using the n" word saying, yes, of course, but it's been a very long time. the contract with he network airing three shows featuring the 66-year-old's chi expirat

the end of the month well, after a woday stok plun, stocks re uch more stable today moving between small gains and losse o do you invest with you heartlike yd like today asked the question on gerwillis.com, and 9 said heart, 91% said heart, huh, okay, i believe you. california writes just discovered your show keep up the great work, and i'll continue to watch. thank you, wade. haik from new york says tosolve the overdraf free, don't overdraft. use a creditcard, a small balance inthe chcking account, and as you write checks, transfer thatto your savings. simple, he says, david fro pennsylvania agees. easiest w to avoid fees on the debit card, have the bank set the account so if you attempt to use te debit card without th money in aount to cover transactions, the transaction is denied. woldn't that be great? justo it that way. once i did that,i never had the

fee again. we love hearing fromyou. e-mail me. finally, you may be breathing a sigh of relief after th dow industrials ended higher tonight. well, 40 points higher, pain may only be beginning, and that's because the yield on the ten-year treasurywas p 40 points this week, a lot. that is a biggest rise since 2003 a decade go. the bond story maywell be the bigger issue for most of us consumers. you know, we can sitou the noise on stock grations, leave the worry to professional traders, the ones who make the money on the gyrations, but you and i, we can't ignore higher mortgage rates. whether you are underwater or eager to buy, higher rates could hurt the housing recovery helping the broader economy. one report this week had individual investors throwing in the ttel on 17 # billion in bond fund investmes. before you give in, remember this, the high education ever mortgage rates according to freddie mack back in early

october of 81. 18.6%. heyey, things could be worse. that's my two cents more. that's all for tonight's willis report. have a great ♪ >>om: many of us are not happy with the governmen scooping up all our information but the snoops s they only check on foreigners and not citizens. is that true? can we trust them? we're talking how data flows flew thenternet and at iormaon they are really storing right here, right now. >> tom: thanks for joining us. he at the top of the stack. amount of da flowing through the pipes that make up the internet is tremendous. the compaint after 9/11 ere was too much informationor our government to follow and they did not connect the dots and hence the attack. now t