tv MONEY With Melissa Francis FOX Business July 25, 2013 5:00pm-6:01pm EDT
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melissa: i'm melissa francis and here's what's "money" tonight. the feds throw down the gauntlet slapping sac capital with criminal charges. will a man many think is the greatest trader of all time end up in jail. first they were after your credit card and now they're after your cars? hackers discover a frightening way to shut down your brakes. how terrifying is that!? we'll tell you how the computer nerd figured this out and how to keep you save. a stock everyone basically wrote off a year ago. now the company he's ceo is laughing all the way to the bank? you don't know who i mean? stay with us to find out. even when they say it knows it
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is always about money. melissa: fbi investigators say there was quote, systemically insider trading for more than a decade at sac capital. will the firm survive the charges and what does this mean for cohen's reputation as one of the most brilliant traders wall street has ever seen? it is all the word on wall street today as all anybody is talking about. that's why we're joined bit "wall street journal's" ahead of the tape columnist spencer jacobs and jason weisberg from seaport securities. spencer, let me start with you. how strong do you think this cases and do you think stevie cohen faces criminal charges? >> so the fact that they indicted the firm and not him, they indicted individuals at firm and not him points to the weakness of the case specifically against him. otherwise they would have gone for him. melissa: i guess but there are at love people who are saying on the sidelines, they're holding
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their breath and waiting, that will be the last shoe to drop. you don't think so? >> they may go after him and may find stronger evidence against him or have people testify because there are people who made guilty please. there may be individuals who make guilty pleas and point the finger to give the government a strong enough case. that is a sign they don't have a strong enough one. by going affirms you're hurting other people. you're hurting complily innocent clients of the firm. melissa: jason, we heard a lot about the case today and it seems that, you know, basically it's about stevie cohen who was, you know, thought to be the greatest trader on wall street. he was somebody who was so good at this burst trading, something computers do now, algorithmic trading where you're trading technically ahead of the group and turned to event-driven trading because he had so much money under management he had to go to another strategy trying to outsmart the market. earnings are about to come out,
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we think we know what they will say than the street so we'll bet one way or another. he develop ad expert network and went out to get information. this is were the problems came according to the fed. they think the expert network was dealing at least in part in insider trading information. what do you think? >> first of all, i don't think we should lump up all fund and all money they're running as an event-driven fund. melissa: yes. >> it's a multistrategy platform. i'm not an sac expert but when you're running a multistrategy platform i'm sure some of the portfolios or pms were event driven. melissa: yes. >> there are loft things they do, take core positions in certain stocks with long term views and they trade around those positions. if the positions go against them they will do some fast money trades to capitalize on the beta in the stock or high volatility. i don't know that just, if they started it in a event-driven platform that defined the entire
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entirety of the fund. melissa: no, it absolutely didn't. it is just one way they were trying to manage the vast amount of money they had. they were doing 50% returns i understand until 2000 and then they saw the returns dip down to a lowly 21%. that is when they started trying to, in steve cohen's words, understand what these companies actually did. they had some people that were out doing these expert networks but it begs the question, how difficult is it for the fed to parse the difference between an expert network where you have people out gathering information. you're taking satellite photos of every wal-mart in the world and you're comparing them to the month before, to try and see, are they doing more or less business than something that currently takes a lot of manpower? in the case of mathew martoma that was alleged there, you're talking to a scientist doing drug deals before it is public information and he is saying those drugs trials didn't go well. that is insider information. how are the feds going to parse the difference tweens those two things and know what really
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happened? >> they think they know what happened because there is at love smoke so they think there's fire and there are some cases they feel very confident there was some wrongdoing but you're absolutely right, it's a gray area. for example if you speak to a doctor a specialist in an area but not privy to insider information about a drug trial then that's okay and he can give you some very useful data what is happening but not the most useful data in terms of negative reactions or a blockbuster, go buy. so it's becoming a very fine line when you engage these experts or you go do channel checks and things like that but they clearly think, at least in some cases sac went over the line and they have evidence that they think, that specific individuals but not cohen himself did go over the he line. melissa: jason, this is your field of play. this is your profession. stevie cohen has been a legend for a long time, for decades. do you think less of him? >> if he didn't break the law, i
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don't think, i don't think less of him at all. you know, he has a large group of people that are working for him, like over a thousand people and if people that work for him are under internal pressure to outperform other people i can't speak -- melissa: internal pressure from him? that's what they're saying. he promoted and condoned an environment where people, like the great wall street movie, the first one, where people felt pressured to come up with very valuable, unique information. they cross ad line in order to do it. >> if they did that, and it is alleged they have done that, and i don't want to convict anyone -- melissa: we don't know. >> would i say this. that 99% of the people that work on wall street in general abide by all the rules that are set forth by the federal -- melissa: 99 you think? >> yeah, i think. what we're seeing here and i don't know of anything wrongdoing happened or not. i'm not in a position to judge. i did read the indictment and it was pretty compelling that is one side of the story. you know, the government has
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really gone on a clean sweep in3 trying to, you know, i don't know -- melissa: they're trying their best. >> it's a scorched-earth policy and taking everyone with it. there is a lot of collateral damage. there are certain people that don't get looked at. why hasn't john corzine been looked at for what happened? melissa: that is another story. we'll get to that. but they really do have a vend today fa for this guy. do you think is reputation is forever damaged? spencer i give laws word. >> i think it is forever damaged i think his firm is failed even if the indictment doesn't go anywhere. no financial firm survived that. he has a lot of money. if they don't extract $10 billion or whatever they're seeking for the firm or can't be personally charged criminally or charge him criminally and don't succeed because there is not enough evidence his reputation is sullied by this whole episode. melissa: thanks a lot. to both of you. you pay a lot of money for technology in car.
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♪ melissa: more than 160 million credit card numbers were stolen in the largest data breach seem in u.s. history. hackers broke into the systems of huge names like jetblue, 7-eleven, visa and others. what should you do to see if you and your money whether among the victims of this enormous attack? we have a cybersecurity expert, cofounder of verico. the feds say this is the the bit hack attack in history. what happened? >> it is amazing what these guys were able to pull off. for a period of seven years from 2005 to 2007 they were extremely active, just these ffve individuals going after organization after organization, sometimes hitting the same
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organizations twice, and just showed that these companies didn't have adequate security and these guys knew how to break in. melissa: how do i know if i was a victim and what did i lose? >> well the names of the organizations that were compromised, you know, are in the federal indictments but it is not clear what information was lost from each company. you know, it kind of has a smorgasbord of -- smoring gas boring, of account information, credit cards. information used for credit card fraud? it is not here. we'll start to see what was lost for each organization and what consumers can do. melissa: we saw some of the names on the screen. i think i've done business with almost all of them. what should i look out for? i understand one of the main things i should do is look out for, identity fraud, check my credit are report. see if my identity was taken and check my bank account statements. >> that's right.
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the most important thing is to look at your, your credit report every year at least, to see if there is any accounts opened in your name. that is the number one way identity thieves work. and then always check your bank statements as to, are there any charges on there you didn't expect. you know, one of the things that they stole is debit card information. a lot of people don't really track what's being taken out of their debit card that well. melissa: absolutely. thanks for the warning, chris. we appreciate your time. >> thank you. melissa: so even more frightening than losing control of your credit card? losing control of your car. did you know that hackers can take charge of your steering wheel, turn off your headlights, disable your brakes? joining me now are two men who know how to do this because they have done it. chris handles security intelligence for io active. and charlie miller is a twitter security engineer. guys, this is terrifying. chris, tell me exactly how you do this. >> so there's kind of two pieces
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to this whole puzzle, right? initially you want a remote vector into the car. a lot of people do this through your bluetooth connection or say the telematics unit. we didn't pay attention to that part because it was proved by researchers at university that it was possible. instead we focused on what you could do inside of the car. and we connected our tools and our, your utilities to the odb-2 port which most people know that are used by mechanics to do diagnostics on the car. and then, wrote our own software and figured out how everything work and made the car do whatever we want to do. melissa: we're looking at a video. charlie, do you have to be physically inside the car and connect wires to the car in order to do this? >> well, as chris explains we did it that way but a real hacker wouldn't have to do that. a real attacker could compromise your bluetooth or tomax unit.
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once they have code running in the car and can do kind of things we explored which is, put jamming on your brakes or tighten your seatbelt or turning your steering wheel. so pretty interesting stuff. melissa: chris, this is absolutely terrifying. who do you think would want to do something like this? i can imagine an ex-wife or an ex-husband being furious. i can imagine watching a movie and do this to the ceo of a company. they're trying to tank the stock of. there are a million different scenarios. what do you think? who would want to do something like this. >> i know charlie and i wanted to do it to each other's cars. that is one scenario. melissa: oh, my goodness. >> number we really didn't think about who wants to do this type of attack. we actually wanted to see what was possible. while a lot of people say, you know, yeah, it was easy or yeah you were connected to the car, we wanted to show what could actually happen in an event someone did attack your car. melissa: chris, what's the
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lesson? what's the takeaway? were you trying to tell car manufacturers maybe it is not great to have the car so automated? >> no. i think charlie and i wanted to open a discussion for all of this. i don't think there's a very big discussion right now with security in respect to the automotive world and charlie and i really wanted to do a real-world, hands-on experiment and research to show what someone like us could do. melissa: charlie, is there a way to protect yourself from this as a consumer if you have a car with bluetooth and gps and all the different computer systems inside of it? is anything i can do when i go outside to my car? >> that is the problem. no one really talks about this and there is not anything you can do as a consumer but hope manufacturers make more better secure cars. we wanted to get this out there the in open so we could try to convince them to make better cars for all of us because we all drive our cars. melissa: chris, has there been any response?
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now i'm terrified and you're telling me i can't do anything about it. as much as i hate city bus here in new york i might get one and go home and somebody can hack into my car and jam on the brakes. has there been any response from carmakers or anyone? >> we haven't heard much. i think after we do our talk at defcon next week and release tools an data, other people will be able to evaluate what we did and talk about some more. we can kind of go from there as researchers and automotive mervers we can have a discussion. melissa: i hope so. nothing i love like a scary story with no resolution. thanks for coming on. >> thanks for having us. melissa: money question of the day. these hackers disable ad car's brakes. does it make you want to buy a 197pinto? we heard from someone who owned a 72 pinto. he would rather die than do that again. there you go. follow me on twitter at melissaafrancis. it is fun, i promise.
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i am jealous. losing money, anyone long on corn. everyone's favorite summer vegetable taking a dive today. corn futures hitting a 2 1/2-year low. all things to favorable weather forecasts for u.s. crops. all right, india and china are about to shut out the lights on the whole planet! the latest forecast from the energy department shows energy consumption will grow a staggering 56% by 2040 due in large part to those two countries. that is a lot of juice. can the shale and practice fracking boom save us from a total blackout? congressman bill flores, a member of house natural resources committee. welcome to the show. >> glad to be with you, melissa. melissa: congressman, those numbers are as standing. do we have the production to keep up with it? >> we the capability to keep up with it. the ultimate result depend what happens here in washington. we have the ability to enable huge increases in domestic production and make america energy secure by 2020, or, we
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can dot opposite and cause to us have high energy prices and a weak economy. melissa: yeah. i mean the department of energy is predicting that while consumption goes up 56%, they think production in the same period could go up 61%. so we could stay a little bit ahead of it but so much of that depend on continuing with the fracking boom and the shale boom that we have seen. which way do you think the, would you feel the trend is going in terms of legislation and permitting? is it getting easier or harder right now? >> we, i would say that we still have mixed results overall. right here in the house we've been very active in trying to promote american energy solutions and i mean truly all of the above american energy solutions but we haven't had much luck getting those same pieces of legislation through the senate and then the president is going a different direction as well. his solution is all of the above as long as it is above the ground. we belief we need to tap all of
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america's abundant resources. >> if you look at the data, that is about a 30-year span we'll see it go up by 56%. if you look at 30 previous years, consumption grew by 85%. so the increase is actually slower than it's been. in a way the president is achieving the goal he wanted of slowing our growth in energy demand. i don't know if that is going to be enough for hill. how about the jobs that this would create, how important is that to our country? >> well it's huge. not only do we have the primary jobs that come from increased american energy activity, but more importantly this abundance of natural gas that we're producing affordably and safely and efficiently has put us into a position where america is now globally competitive with respect to the manufacturing base. i mean right in my own district i have a company called nucor steel that employs 400 people and they're globally competitive on steel they produce from
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recycled steel, recycled metal products, that has directly the result of cheaper natural gas prices. this is what we need here in america, is good manufacturing jobs. those are the jobs that build the middle class. melissa: we also need the jobs that go along with this energy boom all they we don't have enough people in this country trained as scientists and engineers in order to fill them. how do we fix that problem? >> what we need to do is convince young americans going into college that the energy business is a stable business. back when i got into the business over 30 years ago it went through booms and busts. as it went through those phases of ups and downs the volatility caused young people to say, hey, that volatility is not for me but if we can pass policies right here in washington that show we're in this for the long term, i think we'll have abundance of young people who say this is place where i can go and work my career and make a difference in this country.
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also feed my family at the same time. melissa: true, but congressman, how can you legislate that? how can you make that happen out of washington? it is true we do see the price of energy rise and fall, and you see investment, the rig count goes up and down in response t that. that is a valid complaint of people, maybe i don't want to get into this industry because if we see prices bottom out again because of this tremendous boom it will turn out it is not a great job. you can't legislate that away. >> we can't legislate away booms and busts you're exactly correct but we can eliminate the government interference that prevents stable increases in production because of technology that continually improves like hydraulic fracturing. for instance, today there is 10 different agencies in the federal government that are looking to try to find a way to restrict or regulate the use of hydraulic fracturing. and that's the tool that enables us to be here in this low cost energy environment we're in today. so if you want to really believe in a strong american energy
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future you would stop activities like that. stop activities like, like the overregulation of a particular facet of the industry is what i'm talking about. melissa: no, absolutely. congressman, thanks so much for coming on. we appreciate your time. >> great to be with you melissa. yes, ma'am. melissa: time for today's fuel gauge report. a natural gas rig in the gulf of mexico continues to burn out of control. the rig, which is owned by hercules offshore has been unmanned since tuesday morning. that is when a well it was drilling blew out and ignited. the cause there is still under investigation. canada's largest independent oil producer has been unable to stop a series of leaks from an underground well in alberta's oil sand region. according to canadian regulators, four separate leaks spread over at least 100-acres. while the amount of oil is small it represents a rare case where a producer has not been immediately able to identify the cause of a leak and go out an stop it. marathon oil notified
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libya's national oil company it is considering selling its stake in the country. recently marathon increased focus on shale assets here at home. we just were talking about that. of american imports from nigeria, algeria you angola dropped in recent months due to the shale boom here in the u.s. >> all right, money options are all laid out for the u.s. and sire why. what is the best bet for hard-earned tax dollars? if you checked your credit score before today's dinner are awe gold digger or one smart cookie? we have your love connection covered. "piles of money" and some dating advice coming right up. ♪ my mantra?
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maybe even better than you expected. it's allart of our goal to execute your trade in one secon i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reaso serious investors are choosing fidelity. now get 200 free trades when you open an account. melissa: violence is raging in syria where more than a hundred thousand are reported dead. assad's grim on power is tightening, and today, the regime is lashing out at the u.s. for providing arms to the rebels. chairman of the joint chiefs, general martin dempsey, is responding with five potential options for intervention but there's a multibillion price tag. here to break it down is the islamic forth up for democracy. the first option is basically to train and advise them with a
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price tag of half a billion dollars a year. what do you think of the option? >> well, i think it's something we've already started doing, and we need to do with a clearer strategy, and i think it's something we have to do because doing nothing has proven, melissa, to be the costliest thing to the american taxpayer. doing nothing empowered hezbollah and risking necessary sees tating the need for thousands of american troops in syria to protect those. we have to train the opposition and empower them and go into others which i would look more than options as simply stages of more engagement from the americans. melissa: yeah, walk through that forward audience. next level up is option two talking about conducting limited standoff strikes, the use of lethal force to strike targets enabling the regime to force hundreds of aircraft ships and submarines and other enablers. the impacts of this could be
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significant degradation of the regime. what do you think of this option with a price tag in the billions? >> they have to defend themselves, especially with antique tank weaponry and more arms, but after that, then what happens? a good example -- they took back the fact they had lost it because they were pounded from the air and or -- artillery and they took it back. we have to provide limited support in these ultimate -- from the weaponry that we have because we don't want to hand them, melissa, antiaircraft missiles and other things. if they are used, we have to use them ourselves from outside syria and protect the rebels. melissa: well, that's why option three is a step up from that talking about establishing a no-fly zone, but that comes with a price tag of a billion dollars a month. this would involve using lethal force to prevent the regime from
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using military aircraft to bomb and resupply and extending the air superiority over syria. what about this option? >> well, there's no. doubt that that option is very important to have because you need -- at some point, we have to protect the rebels from the air from the bombing and bombardment they are doing with helicopter gun ships, aircraft, ect.. others they social security not helpful because the civil war happening is on the ground. again, to protect the movement of chemical depots and others, they need air action like in bosnia, ect.. the longer it goes on, the more radicalized they are becoming. e.u. says syria is the largest group of terrorism from europeans going to syria and going to europe. this is something the no-fly zone, a billion dollars a month as said, is going to possibly short circuit the civil war to end it quicker and end the
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humanitarian costs costing us money. melissa: is it better for the price of a billion dollars a month to establish buffer zones, the fourth option? >> i think the buffer zone is important because, you know, one of the main complaints is, well, they are not unified, could be al-qaeda, ect.. the bottom line is the general said just yesterday they declare war on al-qaeda, but they need places to organize and be trained and those buffer zones allow them to do that. every time the free syria army comes together to strategize, they are bombed and separated. that's what the buffer zones allow. i've been disappointed not only general dempsey, but the president especially, has not laid out a strategy how they are not just options in a vacuum, but need to be looked in the context of an entire strategy for syria, and this administration -- melissa: you want all the things? >> exactly, one leads to the
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other. if we don't, the fifth, most expensive one of protecting the weapons, has to be done when hezbollah gets hands on it. the cheaper thing to do is have a bigger strategy and lay out for the american people what happened and the cost of doing nothing versus the cost of having a global strategy in syria regionally to protect israel, to protect the good people on the ground. melissa: looking at these, there's a huge price tag. what do you think is the cost of doing nothing? >> the cost of doing nothing is giving aaron the green light to say they are own syria giving iran the green light to mobilize hezbollah and do what they want and spread terror in lebanon an threaten israel and spheeling empowered to do that, and continuing to allow syria to be the biggest factory of terrorism around the world, and the cost of 3 million refugees in turkey, jordan, and generallily in syria. we'll pay for that because what's this america does. military component decreases the
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humanitarian cost also. melissa: tough choices. thank you so much. >> any time, melissa, thank you. melissa: what's your credit score? may not sound like a great pickup line, but it could be the secret to a great love connection. who better than chuck to explain. we'll be back. speaking of love connections, anthony wiener, toxic for my brand, but spirit air is using carlos danger to attract customers. will it work? at the end of the day, it's a -- it's all about "money." don't worry. ♪
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♪ melissa: listen up, singles. here's a dating deal breaker i bet you never saw coming. a surprisingly large number of people do not marry people with bad credit. it has nothing to do with being a gold diggerment financial responsibility ranks up there with career ambition and physical attraction. really?
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chuck, the former host of "the love connection," and just an all-around dating guru, by the way, and john, a credit expert at smartcredit.com. a pleasure to have you both. chuck, starting with you. >> thank you, nice to be here. melissa: what does the credit score tell you about someone? >> well, it tells you whether they are responsible or not, obviously. for men, you know, let me get to this real quick because when you are dealing with a relationship, you're not talking about anything that has to do with reason. you're talking about emotion primarily. melissa: that's true. >> men don't care what a woman's credit score is unless they are trying to mooch off them or score a deal, but they care whether she's hot or not and whether they perceive her hot or not. they don't care. women, on the other hand, older women, not younger women. what are you laughing at? melissa: i think there are guys out there marriage-minded -- >> there are some -- melissa: they say do i want to to be the mother of my children
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and running the household if she didn't pay the represent? she's a flake. >> the point is those guys have, like, those pen things and glasses with tape wrapped around them. melissa: what's wrong with that? >> nothing, if that's what you are looking for. that's not the average guy. the average guy doesn't care. he really doesn't care until it's down the line. now, somewhere down the line he'll pay a price for it, for not caring, and that's the truth. women are sensitive to this. women's first idea is can he take care of me? is he responsible? don't get mad at me, you feminists. melissa: i'm furious with you. >> women are independent and concernedded about their money and that's why this is coming up. they are the ones concerned. can you provide for me, and are we going to be compatible, responsible with money? it's what more people get divorced over more than anything else. >> i love chuck to death, buffet
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i'm disagreeing here. it's important to both sides. i don't know, i may be telling a lot about myself because i like nerdy guys. what can i say? john, what diewfng it sells someone without the potential spouse, why should it matter? >> i think it's brilliant to get an understanding of someone's credit report and score before you go too far down the road with them, for a couple reasons. that three digit number tells you from the amount of debt they carry to how they manage it to whether or not just overall fiscally responsible. it doesn't make a lot of sense to find out about someone's financial attitudes and perspective on your honey moon because that's something you have to -- like chuck said, that's going to follow you down the road for many years to come, and half the people who dwet married get divorced, and one of the most important thing to do is demingle yourself from
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someone with bad credit. melissa: that's true. chuck, is there a romantic way to ask about the credit score? >> no. there absolutely is no romantic way. we have a country that's $17 # trillion in debt, and that doesn't bother us that much. i agree that this is very, very important, that you can learn a lot about a person, find out how compatible you are as far as money is concerned because it becomes a very interesting point of contention in a relationship, and also in a marriage; however, most people don't go into it caring. they dn asking that's not saying that they should, but they don't. it's emotion. it's emotion over reason. it's the same way we do politics. it's the same way we do everything in our lives. we, i mean, she is hot, i don't care if she's got a dime. really? that's true. melissa: john, there is a match making website called
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creditscoredating.com using scores -- they are self-reported, though. the cynic says you can write whatever the heck you want. >> yeah. melissa: if i want to know what the credit score of somebody i'm dating is, is there a way to do it? it's important. it shows how responsible someone is. >> yeah, and those websites where you self-report your credit score are not different from the websites where you put a picture and choose the one from high school, but now you're 45 and fat. there's a variety of places where you can get a free credit report and score, annualcreditreport.com, credittheft.com is a good choice. free, print it off, and if they are not happy, -- >> every time i dated, i gave a woman at least 850, at the lowest seven. so, you know -- [laughter] melissa: all right. i think we'll end on that note. thanks to both of you. >> really? melissa: that was a lot of money. yes, i don't know where to go from there.
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[laughter] check the credit scoree >> you got an 850, i'm sure. melissa: well, i don't know. i don't know where to go with that. anthony wiener is where i'll go. the latest fall from grace has an airline flying high. i can't believe we used that picture. bagging plastic ush herbed in a wave of shoplifters across the country. i knew banning plastic was evil. you can never have too much "money" or plastic bags. ♪ you make a great team.
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♪ [laughter] melissa: we're already having fun with "spare change" here, glad you are joining us. we are joined by julie and david. did you hear the segment about the credit score? good idea; right? >> app di wiener -- trying to lead into the segment. >> poor, poor name. >> carlos danger. melissa: his credit score, a good one? >> the greatest credit score. who would have known? >> i would have known because i knew him in dc because he was sketch back then too. melissa: well, okay. >> did you say that back then? >> always. melissa: well, there you go. speaking of anthony wiener, spirit airlines is offering, in honor, it's wiener rises again vacation package, and get $24 discounts to mexico.
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you get it, because of carlos danger? do you think it's a profitable marketing campaign? >> i thought it was a joke. melissa: no. >> it's for real. >> it's a real thing. melissa: yes. >> this is great. melissa: pile on. >> make a joke out of the guy, the better as far as i'm concerned. the danger, of course, is that that -- and there's no way you can talk about it without it becoming a joke. >> the danger is that he actually becomes mayor. >> and he would not only be a joke for new yorkers, but a joke for the world because new york is a part of the world. >> am i the only one that anthony wiener is a better sext name than carlos danger. >> we have the wiener and as man together. melissa: you didn't say that. >> i did. he didn't think it was funny, didn't get the reference. >> making me lamer than i thought. melissa: don't joke on the back of that. that's tough to follow.
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>> can't top that. >> we could have had a show together. melissa: wow. towns across the country are banning these with unintended consequences, grocery stores have a rise in shoplifting thanks to plastic bag bans because customers stash items in the reusable bags and leaving without paying. see, what do you think it's worth? stealing or not recycling? >> not recycling? come on, one out of a billion? >> you're the ones who did, didn't you? >> this guy, james devine, who shoplifted a bag of lettuce and shampoo and protein powder -- melissa: allegedly. >> he did. what was the point? what's the combination? shampoo, head of lettuce, what do you do? >> bottom line, recycling, like electric cars, they cost more and pollute more money than they save. i have seen this time and time
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again. it's a great piece in the "new york times" of all placings years ago proving recycling costs more than it saves. melissa: serious angle. >> might cost more, but better for the environment. >> no, in the end, it's not. it cost r more to recycle and use the energy to do that than you save as a result of that. >> the starbucks cup says -- >> makes you feel good, but it doesn't work. melissa: stealing is good for the environment. that's my take away. i'm getting a t-shirt that says that. remember this guy? well, we'll show him. turns out, he's a phony. this guy. the man is really a town crier, but he didn't have an official role in the royal baby's birth, nothing. instead, a british journalist tipped him off that the duchess gave birth. he ran out in full costume with that role, what a party crasher. can you believe this? he's a town crier, but not in
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london, came in, and got -- i mean, how many millions of -- >> i think it's appropriate. the whole idea of royalty is phoney. the idea that some people are born royal more than others? i've known more poor people with dig dignity. >> you know a lot of royal people? >> a few. >> a buzz kill. >> royalty is a buzz kill for me. that's wire founders started america. >> kick your butt right now. i'm surprised martha didn't dress up because she was so excitedded about the baby. melissa: she was there for a long time. she lost -- >> i think she was waiting. like she was in labor -- she was -- >> do we know the name? >> george. >> it is george? melissa: where have you been? >> i really don't care about the royals in any way, shape, or form. i like when babies are born, but that's as far as i'll go. >> look at how cute the baby is,
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adorable. >> you just see the top of the head, you can't see it. >> a good looking couple. you're a buzz kill. >> i see the little royal wave, already into it. >> taught kate middleton to do the wave. >> she had a class for that, a seminar. the new face to grace the ten pound note, speaking of england, jeep austin, the pride and president author will be there 20 # 17. austin is not the only author, shakespeare and dickens have been on them too. do you think we're going to see jk rowling someday? >> where's the women on the u.s. bank notes? melissa: i don't know. >> susan b. anthony, i'm a buzz kill, but this is great. i'd much rather have people like her and others than politicians. although -- melissa: there we go! that's all the "money" we have
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for you today. see you tomorrow. watch charles payne's special, "making your market," that's tonight at 8 p.m. eastern, tune in. it will be awesome. >> how can you not love him? melissa: the "willis report" is next. dennis: i'm dennis kneale in for gerri willis. is america the land of inequal opportunity as president obama proclaims? he says that's holding the economy back, and i'll set the president straight. also, this guy's been call the al capone of wall street, and, today, the feds took him down, or the firm, but does the federal government have a solid case against steve cohen, or is it a witch hunt? who is next to fall? consumer reports rates the chevy impala the best sedan of 2014, the first time an american-made car got that distinction in 20 years. consumer reports is here to say what's hot about this hot rod. all that and
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