a watch that is going to come with it and it means that i am going to be wearing out the nike air maxes faster than in the ar and he did not give us the nike stock. >> bullish. >> happy labor day. well, what the hack going on? welcome, everybody. i'm neil cavuto and it is the weekend. do you know where your money is? don't ask your bank, because for the five big nest the kgest in , things got scary and i'm talking real scary. not just because jpmorgan and others were hacked or just because the russians were hacking them, but the way they were hacking them and how far they got hacking them. apparently, deep enough to delete and change bank records. i want you to think about that. think about someone getting into your bank account, maybe zeroing out your bank account, scary stuff, and it makes you wonder what could be next.

on that happy note, let's get right to it to ben stein, and charles fain and gerri willis and adam koshinski. and i want to remind you that it is still cavuto even though i was out last week. and okay. what do you make of this, charles payne, because we all hear the hack attacks, but this is serious of how far it attacked. >> and how sophisticated, and talking jpmorgan and because it was backed more or less by the russian government. >> and the russians are saying it isn't. >> and i trust putin. >> and we are listen etening t. if i were spearfishing i would let him go in front of me. and here is the thing, the electric grid is a big target, and the oil and gas industry is

getting hit all of the time and the banks, and i think that we should take it more seriously, because it is not the target hack, but this is ultimate red flag here. >> and why is this happening? >> well, it happens everyday. the attempts are everyday and it generally comes from three sources, and the banks are dealing with the threats from russia and the middle east and china. those are the sources. this is one of the downsides of having like five or six major banks out there controlling 70% of the assets, and you have to hack one place to cause damage. jpmorgan is the biggest bank in the country, and it does b business with every major corporation, and lot of consumers and i mean, you screw up jpmorgan and you are screwing up the u.s. economy and i will say one other thing that i was speaking with a bank ceo and he said that he spends 80% of 90% of minutia from the dodd-frank and dealing with the ridiculous

law. >> did the hacking come up? >> well, they are spending a little bit too much time, and before you laugh, ben, they are spending a little bit too much time on the volcker rule and not enough time on this. >> and it is interesting that it is side tracking them. and what do you make of that? >> well, they are trying to make us feel better saying it happens every single day, and that is not making me feel better. the good news is that we heard about it quickly. if you remember with target, we did not hear about it for weeks and weeks and weeks and of course, the big kahunah#(v is bank. with target, they are going to steal the credit card number and the street address, but the bank, as you showed at the beginning of the show, they are taking money right out of your accounts. >> well, they have progressed than prior hackings, and many have argued, ben, that it is setting up a practice run or dry run for something. and what do you think? >> well with, in all of the checks and the debits, and the kit kat club in california, i have been telling my wife that

it was russian hacking, and now she knows conclusively that itt is, and e&j entertainment, that is russian hacking. and it is a big problem and i don't know the solution to it, but surely some kid out there in san jose or santa cruz who has some program that can stop the hacking. i mean, we have paid billions for the games and the crushing little pieces of kcandy, why can't we spend some billions for the hacking defense. it is hard to believe it can't be done. >> and you know, adam, after the kids who do the hacking, and governments do the paying, to get them to do the hacking a lot of times that is the case, but how big is this going to be? how worse is this going to get, and are we just seeing the warmup act before the accounts are zeroed out, and all of the sudden, everybody is going to be going nuts? >> well, the bad news is that it is very bad and>nq businesses a government are taking it very seriously and to charlie, the three major sources are china, russia, and criminals generally,

right? kr criminals generally, and this is a big, big business for them. >> and why did you leave out the middle east? >> because the criminal element is to go along with the list of three. >> and adam talk to anybody about this, and know that terrorism is part of the equation? >> all right. let me get to the good news and that the cup half empty and serious, and the good news for consumers and bank depositors for example, you are insured, but it is a way bigger problem for jpmorgan than for us. >> and you are shaking the head there. little comfort? >> cold comfort. and so go fill out the form, and spend a week or two trying to get the attention of the right regulator to give you the money back and how long is that going to take? i want the guys to protect us right now. >> and you are following the financial crisis we have a huge law called dodd frank and you have brought it on the set how thick it is, and thousands and thousandings of edicts and the

cyber attacks and hacking is not part of any of the regulations and these guys are spending a lot of time on this. >> that is a different conversationmy friend sgrchlt you talk to the bank ceos and they are spending a lot of time them and their boards are spending a lot of time interpret ing the volcker rule, and -- >> what would happen with you and dodd and frank? i mean. >> well, i like mr. frank and mr. dodd. >> well, he was -- >> well, i know both of them, and they are very nice, but. >> and you know, people are looking at this, charles, and saying, you know, i don't believe that -- we hear it a lot, but i don't believe that we are are of how close this was close to nuclear. >> and adam, the idea that the banks have you covered, and wasn't that the -- the fdic, and that is by the way,our account that we showed at the beginnings. and also, these are dry runs. dry runs for something bigger. >> ultimately. >> and i know that. i believe that.

>> amend it is reconnaissance if you will, and go and see what you can get. >> oh, no, i believe they are direct. >> and one thing is, and i have looked into this dodd frank, young man and i looked into the details and in one case, what they did is to get into the experiment of how you could make an account disappear and pull it back, and experiment again and pull it back. and experiment and pull it back again. >> that is the experience of hacking. because talk to adam out there in silicon valley. >> that is what is worrying me, that it is a warmup act for something. >> well, the department of anti-hacking. >> and i want to say that the corporations in particular and charlie, i talk to the board members and ceos and cyberterrorism, and cyber security is at the top of the list ofó!=w concern, and they a working hard at this. >> and adam, i have to stop you there, because the budgets don't say that. they need to spend a lot more money. >> they have more money on the compliance officers than stopping the attacks. >> 250 million households at s

risk here is the number of clients at jpmorgan chase customers. so you have the think that a lot of people have -- >> $2 trillion in deposits. that sin sane. >> and the fdic is going to be running. >> and yes, up to $200,000, right? >> well, up to $250,000. >> and you could use a variety of aliases. >> and neil cavuto. >> and ben? >> well, if this is really all that serious, why don't we have legislation? why don't we have government mandating that there is some kind of expenditure to prevent this? i mean, surely if we can -- >> i don't think that we can, ben. >> i think that on the move, and i agree that it seems normal, but when you talk to the folks, they say that every mousetrap that you build, they have a smarter rat to go around it. and it keeps happen iing. >> you know, that is spot on, ben. >> they can't deal with it. >> that is pot-on and what they are learning is that it is a lot more that you can't stop it, and

what you need is a plan for when it happens. >> okay. >> and that is where that is going. >> adam was complimenting. go ahead, adam. >> let the compliance officers invoke the volcker rule, and more computer programmers trying to stop the hackers. >> and everything is about big government with you. you are a hater. you are just a hater. >>e will come back here and the lawmakers have a beef with burger king, and you have aerd that, but maybe it is their buns that we should be kicking. we will hear some explaining in

what do we do? what do we do? >> if you think that they are loud, wait until they are kicking up the rage over the minimum wage, but are they asking to kick more jobs to the curb the more they do it? >> well, the more people who earn minimum wage in the country is less than 3%, and if you are obsessed you can't see the forest for the trees. the problem is job growth, and

people need jobs and we are not getting them, and why would you concentrate on the tiny sliver of people at the end, and instead of the real problem. >> well, they are loud and getting majors and other people hiking the minimum wage. >> and this is another form of the classic utopia welfare running to keep this ruse going. the fair society where you don't have to improve your skills. you don't have to become a better person. we'll give you the money. we will make sure you get paid something you don't deserve. burger king, 88%. you hike the minimum wage on a company like that from 7 to $15. you completely wipe them out and they're gone. >> you seem upset. gas bill? >> i think there are two stories there. a political story. >> dod frank. >> this guy can work.

>> the political story probably has to do with dod and frank.;(÷ where do you get your stamp of approval? you have to be for a hike in the minimum wage. that's why it resonates among a lot of pligss. all the way down the line. the economic story is totally different. it is about -- the economics are against raising the minimum wage. it hurt small businesses. it leads to less job creation. this is not just like conservative right wing nuts saying it. this is mainstream economic theory. we will tell you mainstream economis economists. >> midrom knee signed the minimum wage. not 13.25 as the la mayor wants to do. what do you make about that.

>> i any that minimum wage should be raised but i think the smartest argument came from charles payne who said if you are getting minimum wage it's your fault not mcdonald's. it's your fault. >> adam, i'm wondering those who advocate hiking the minimum wage point out that 12 states or so that have done it or look to do it. the job market has improved and they throw that back in republican's face to say look, we can do this. this can happen. but what's the limit? >> precisely where i was going to go. the good news is we have job growth whether or not we raise the minimum wage. however we want to define that. >> my gosh. if you can't -- it's a disaster. they do it in response to the

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>> all right. stocks set to make history in an already historic market. what have you got? >> i like strategists that go maybe $200 from here. >> adam? >> wells fargo. well run san francisco bank will benefit in a raising rate

environment. >> csx, i love railroads and this is a great railro. >> we finished a little too soon. here i say -- >> choose a system. >> fox news continues now. >> is the president about to get out his pen and strike a deal with the u.n.? >> we're push ing pushing the c climate change. >> now, some here say this latest end run around congress is going to put u.s. jobs on ice. are they right? welcome to forbes on fox. ruth, mike, and john, it would be