2410. really leading the selloff today. and it all started off in asia. that will do it for opening bell. charles payne filling in for stuart on "varney & company." charles: political theater. this is the big story. jonathan gruber says he is not the architect of obamacare. he apologized for calling you the voter stupid. he says he is embarrassed and sorry. are you stupid? more fireworks to come. sit back, grab a snack. more "varney & company" is about to begin. ♪

>> we are here today to beat up on jonathan gruber. stupid. absolutely stupid comments that he made over the past few years. >> i seriously apologize for conjecturing. it is never appropriate to make oneself seem more important or smarter by demeaning others. >> are you stupid? >> i do not think so. no. >> does mit employee stupid people? >> not to my knowledge. >> so you are a smart man that did some stupid things.

charles: let's listen in right now after he was caught on camera bragging about lying to us. let's go now to representative jim jordan. >> you are the key guy. the president of the united states throws you under the bus. that job to be was an advisor. that is what i was. howdy people have you enrolled thus far this enrollment? >> i do not have that number but for me. charles: representative turner, thank you for joining us.

you focused on the tax issue. you knew that they were selling a product that was attached. what is the ultimate reason for this? >> you are hitting the issue right on the head. gruber articulated what we all speculated. this is a tax. we construct it as a tax. even went on to say that the bill was written. we know that it went on to the u.s. supreme court. the issue we have now is, what will we do about it?

it is impacting our economy. there is a number of issues that need to be addressed with obamacare. the tax part of it, though, we know it is central to the ruling. will any of your colleagues try to unearth the truth? the professor really talked about his model several times. he seems to be pretty proud of his work. isn't it true, we can improve the general public can understand that it was deliberately designed in a way to get a predetermined outcome. >> absolutely. taking money from mothers.

increasing for everyone. this is not a plan for an end goal. i think given some insight into what this administration did which was in ask a very and sat there for obamacare plan. charles: a brief apology. it really seemed like the second round. the public rejection of this, not just because of popularity. but because people are no longer taking the bait. it can make a major change.

>> i think it certainly gives the emphasis to reconstruct this. how we can put in place real reform for healthcare. a member in his party wanted to go to a told government run. now that the country sees that it is not the way to go, it reserved in less healthcare, the consultation with the doctor. i think the country wants to go the other direction. charles: really cool, calm and collect it. you were pretty heated. i just want you to watch or listen to you leading gruber have it.

>> is that your purpose to recant obamacare as a tax? >> it is my purpose today to come forward and elaborate and straighten out the interpretation of the series of comments that i have made. >> he is obviously a pretty smart guy. did you get anything out of him that you were hoping for? >> he did agreed that he could not deny his statement. this is a guy who when caught telling the truth told of his american public. they were stupid to agree to this deal. he wants to appear reasonable and friendly. when i was asking him who in the administration told him these

things, he deferred and said he does not recall. this is a man that clearly wrote called. i think that truth we have now seen in those videos. it has certainly kept a new light on how the obama administration shed a light. charles: thanks a lot. we appreciate it. >> a huge down day for the market. you can see the dow off of a percent here. also, the bank stocks. making comments all morning. s&p 500 under a lot of pressure. apple porting iphone supplies.

we will talk to an out bulbul in the next hour. take a look at abercrombie and fitch. announcing his retirement this morning. he was best known for saying that people should just not be wearing their close. there is no place for ugly people in this company. i knew it was an ultimate disaster. a very arrogant guy. >> one of those ceos where you just know it is a bad apple. abercrombie is in a very competitive environment. not every teenager is under the weight. he also defended those cities

that he is trying to send as well. you know who is killing them right now? gap. old navy. who would have thought that the gap would be rocking. >> their last same-store sales number beat the street. they got so arrogant. some people saying it was pushing the envelope too much. billboard kept him for a longer period of time. have you ever seen this face? are you kidding me? he is calling somebody ugly. maybe he should be banned from his own stores. >> you probably need a lot of therapy. charles: it is not a household name, but it is a big winner today.

>> what they did is they found four people. they transplanted their product, the lengthy globin product. these patients had the most severe form of the disease. they live with it day in and day out doing lifelong this symptom management. the findings are unbelievable. you are talking about a one and done to work. this is a great job for the stock. the stock is up 67%. the ticker symbol is blue. all the analysts are jumping on board. analysts jumping in.

>> my god son has that. i cannot wait to share the news with him. lots of action down in d.c. today. obamacare architect jonathan gruber. he is still being drilled on capitol hill. after the break, the best news man in defeat. he is up and he is next. ♪

♪ the low point was down 200 points, i think. time now for your morning gold report. up $37. that is a huge move. it will keep spending big on players. down 5%. probably going to move all of that research abroad to different countries. mit professor testifying on capitol hill right now. he is being asked about his meetings at the white house. he has been to the white house at least 19 times.

>> the relationships that were in place. how is that possible. let's first talk about the fact that they will not put somebody into the room with the president. i think we have brett. is brett ready? for they are. let's talk about gruber. i am sure you were watching the testimony this morning. >> he has been lawyered up. very cautious in his responses.

the problem is he said it multiple times. i think you will hear a lot of efforts to try to get him to explain his thinking. if he becomes defiant. if he becomes the gruber that we saw, i think that that will be an interesting moment. >> he is already kind of contradicting himself. he did apologize. he did say i am not a politician. he said no one ever questioned my motto before. that might be the breaking point for him. >> yes. that is true. the number we have is roughly

$400,000 from the feds. millions from states implementing exchanges. >> we have peter barnes in d.c. with the cia torture report. 6800 page report. a condensed report of it. >> i am trying to download it. it is so big. these techniques failed to produce life-saving techniques. these techniques help lead to

the killing of osama bin laden. not any new information. releasing their own study as well today. i just got it downloaded now. right off the top, peter barnes mentioned this is from the democrats. let's talk about the politics of this. what is the purpose of this report?

>> it is a choice. it is a choice by the chair. she is facing a lot of republicans. a lot of inside the administration some concern did this will cause violence around the world. i think the greatness of this company is we can examine mistakes and remedy them. obviously, a lot of republicans pushing back on that. let me just point out one more thing. we call. we shorthand in the media. the cia says it was not torture. they say it was enhanced interrogation techniques.

determined by the department of justice to be lawful at the time. only a few detainees experience them. the cia say that they learn from their lessons. not everything was on the up and up and they made their mistakes. charles: i think that it is a pretty smart thing to think about. we appreciate it. thanks a lot. the eastern seaboard getting slammed. snow and ice expected for the next few days. janice dean's full forecast is next. ♪

twhat do i do?. you need to catch the 4:10 huh? the equipment tracking system will get you to the loading dock. ♪ there should be a truck leaving now. i got it. now jump off the bridge. what? in 3...2...1... are you kidding me? go. right on time. right now, over 20,000 trains are running reliably. we call that predictable. thrillingly predictable.

charles: citigroup. charles: citigroup, h you can se it right there. announcing it will take a charge $3.5 billion for ongoing legal costs and restructuring overseas. gold up about $40. this is a big-time gold play, a proxy on gold up 6%.

silver also having a really good day today. those are the best performers on the s&p. i don't know about you guys, but nasty, cold, wet temperatures in new york. first thing we have to ask is how much longer is this going to last. >> it seems every other week we talk about this nor'easter thing. lesson today, tomorrow and even into thursday. a slow-moving storm. a little too warm for snow right now, even into tomorrow and the cold air poll pulse southward, e storm getting along the coast. up toward boston indication of freezing rain or sleet. west of that the snow line and we could see even over a foot of snow. again, just west of there where

the temperatures are round the freezing mark we see the icy mixture. we could see some snow in new york, philadelphia and still dealing with very gusty wind 40-50 miles per hour. if you have the lace at the airport, mostly because of the wind. some places inches of rainfall along the coast and we could see a foot to even 2 feet of snow from this latest nor'easter, so the darker shades 18 inches plus especially into the mountainous terrain of new england. there is the winter storm warnings and winter storm advisories in the lighter shade of blue and of course he expected weather delays, the airport already laguardia,

philadelphia, jfk and newark, big delays, i wish i had better news. charles: i would rather have the snow than the stuff i almost slipped on leaving. i want your take on this. they came out and said the drought in california is not due to global warming. that was a serious blow. >> imagine a government agency actually coming out and saying it is not global warming, folks. prodi california have happened in the past many times. they have had their wet season, typically when i see most of their moisture, and quite a bit of rain in southern california over the next 24 hours. coming out and saying no, this

is actually what happens, a multi-year drought is not uncommon for this area. i was thinking just the other day, remember in the history books the big dustbowl, could you imagine if something like that happened now? the point blanket statement of global warming when anything extreme happens, and that is what i don't like. blaming anything extreme like we are getting all of this rainfall across maine. charles: if we had the same mentality, our economy would be one fifth of what it is today. >> we have to go back historically and say you know what, sometimes extreme weather happens. charles: to your point, not uncommon. obamacare architect jonathan gruber apologetic so far on

capitol hill but the republicans are not buying it. all rise, the judge is next. >> does mit employee stupid people? >> not to my knowledge. >> see you are a smart man said some stupid things.

charles: let's get back to the release of the cia intelligence report. speaking on the senate floor, peter barnes has more from d.c. >> she says the study of the post-9/11 torture techniques enhanced techniques by the cia in some cases amounted to torture, she uses the word torture as she was on to say conclusions from democrats on the senate intelligence committee, she is the chair. the cia enhanced techniques were not effective, cia provided extensive and accurate information about the program and effectiveness to policymakers and the public. the cia management was in the attic it and deeply flawed and the cia program was far more brutal than a represented to policymakers and american

public. cia directo director out with a statement saying the agency acknowledges that the program has shortcomings and the agency made mistakes early on in the program but review indicates interrogation of detainees did produce intelligence that helped thwart attack plans, captured ce terrorists and save lives. the president had a statement saying that this reinforces his long-held view the harsh methods were not only a consistent with the values as a nation, they did not serve the broader, terrorism efforts were national security interest but rather than another reason to refight old arguments i hope today's report can help us put these techniques where they belong, in the past, banning them in 2009 where he first came to office be at charles: judge, you may be against torture but you were for

the release of this information, which in some ways is ironic the present with sandy asked themselves endangered us and made the situation worse. doesn't information seemed to have done the exact same thing? >> even those who are recruiting for our enemies will know exactly what these techniques were. the people on whom the techniques were used numbers of times they were used. this is i think a cleansing procedure the senator is going through today, and in a free society as we claim to be, as we aspire to be, the public has a right to know what is being done in his name. the public also has a right to know the loss of the government of force against the rest of us one force against itself. charles: are there different circumstances when you are at war, allowance is made when the clock is ticking, when there are plots to kill civilians, certain

allowances that can legally be made o are probably should be made? >> i have heard those are is made by the very serious, well intended people who make a moral argument it is better that one probably guilty person should suffer than a great deal of innocent people should suffer. but legally there is no basis for torture against anyone at any time. all torture is all prohibited by treaty by which united states is a party, sass edition requires due process, jury trial and by federal law. if it is in the united states is prohibited by the law. >> we are talking about people out to murder americans. beheadings. it happened this week with two journalists killed in yemen. you tell me water boarding. we did not even take fingernails off these guys. the argument is we have to

protect ourselves. look at the amount of information we pulled from those detainees that led to several arrest of suspected terrorists. >> the 6000 page report which i haven't seen directly refutes with you just said, cheryl. it was prepared by investigators of the senate intelligence committee who are former cia agents themselves refuse the fact it was effective. charles: i can't wait for you to read it and come back. all 6000 pages, we will see you in 10 minutes, that is something for you. the big board is big news, no doubt about it. talk about getting hit. while at a fresh five-year low. the oil stocks are up a lot more

sense for some people trying to pick a bottom. gas down another penny overnight. $2.65, 46 states now and differendistrict of colombia hae average gas price under $3. connecticut and new york getting close, but not there just yet. the cheapest gas in united states $1.98 in oklahoma city, but we have a gas price battle going on. $1.99, we will talk to mary in the next hour and take a look at tesla. the stock getting hammered. iin september ironically with ol even though it is not necessarily an oil story, but back to the hearings, heated exchange a few moments ago. take a look at it, we can back the congressman jim jordan was asking questions and you have to take a listen to this.

>> we want to know how much he got from the taxpayer and made fun. >> i don't recall the total. >> mr. gruber, and a strange way i appreciate what you said in the video because for the first time somebody came clean and told the truth. charles: rich edson in d.c., another congressman really very upset when asked about a subpoena. what is this all about? >> they want gruber to state how much the state government paid him, thrown around $2.5 million. he said much of the grant money he had gotten went to his university, but he refuses to say how much government money he took for the economic modeling. for state health care in the mentation and state and basically saying i complied with

all of your disclosure request by this committee, you can talk to my lawyer. charles: it has been good so far and only getting better. let you go back and listen in. fannie mae and freddie mac bringing down your payment. 3% on a mortgage be at is that the bust the housing mortgage needs or another door to a big bubble? a big discussion after this. how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of r mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider

carefully before investing. and cialis for daily useor you. helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial.

nicole: i am nicole petallides. the dow jones industrial average down nearly 1%, 170 points. we took the cue from china and greece. we did start with down arrows. s&p 500 down 17, the nasdaq down 28 points right now. the dow losers including merck, verizon, at&t, telecom. boeing also. at&t down 3%, verizon down 5.2% good energy the week center 2014, and off the lows of oil bouncing back at least for today, diamond offshore and transocean also gaining. winners would be autozone and burlington. both of these names are hitting new highs up 3, 4% after coming

out with the latest numbers. to show how many years that amount might last. i was trying to like, pull it a little further got me to 70 years old i'm going to have to rethink this thing it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪ you don't need to think about the energy that makes our lives possible. because we do. we're exxonmobil and powering the world responsibly is our job. because boiling an egg... isn't as simple as just boiling an egg. life takes energy. energy lives here.

charles: all right, here we go again. and he and freddie are back, going to go back to mortgages at just 3% down. there are some restrictions, cheryl casone he watches real estate for us. the first thing you say is isn't this what got us in the mess in the first place? >> the truth is the housing

market needs this right now. offering 5% taking it down to 3%. this is targeted for first-time homebuyers which i have said needs to get into the housing market for a full recovery. habits he praises prizes mellow out, which we have but also low income buyers as well. credit scores, w we'll talk abot this. at least 20. remember back in the day 500 change. charles: if you had a pulse, you were good to go. >> you have to prove you have a job, job status, income and assets as well. the agencies requiring borrowers to receive homeownership counseling. that is a new one we haven't heard before coming from any government backed agency alone fannie and freddie. charles: there was some pushback by people thinking it was not fair.

insulting the intelligence of the buyer, but i think you are right. they have to get it at 40% to have a true healthy recovery. >> lending standards are still stretched for many banks even if they will back the loan, some banks, your neighborhood banks will be a little bit more nervous to do that loan. larger will be more apt to loan to these american buyers but we have to get them back into the market. i should also say under the program i would mortgage insurance which can be 80, $100 of your payment, once you get under 80% paid off on the loan, the private mortgage insurance, you can cancel that. they had this exact program in the early 1990s, and it worked. we did not get in the crisis until the early 2000s. the housing market was very strong.

good times. charles: i see your point, for irresponsible would be first-time homebuyer. a lot of people off the fence now. skyhigh rent in new york. >> we have a new rental record being paid in new york city as of today. it is the entire floor, the 39th floor. a tenant has just signed on the dotted line. all i know it' is it is an international buyer. fox business will get access next month, normally 30,000 per night for the floor. all they would say is interest from middle eastern buyers and people in europe, but on a tenth floor this person whoever it is or whatever also rented the getty suite on the tenth floor 150k for the month. more than 1000 feet plus the

terrace. six bedrooms, six and a half bath. the presidential suite. this person spends that for the month of december. in new york city for the holidays. half a million dollars for one month of the year. charles: these guys bring an entourage with them no matter what. always overseas money. this may be broken before the year is over. >> if they are going to let me walk around with cameras and talk to you they would like to see it rented once again for $5000 per month or more. january 1 it could be yours. we will see more and more residential records in new york city, more records set as money continues to flow in. charles: that is where all the big-time money is going to be now. right? >> yeah.

charles: you drive by, they should have made some sort of circular driveway for the taxes. 100 early in theç letters apartment and you can't get a cab because they didn't think about that part. >> the entrance and the hotel and little frustrating but i have to say we will see more and more of this. i'm interested in checking out, there is a carlisle. charles: speaking of fun, vice president joe biden at it again, wait until you get his latest, it is next. >> i was told chuck graham, the state senator is here. god love you, what am i talking about. you are making everybody else stand up. >> when barack obama and i were

sitting in a high-rise in chicago, beginning to plan how we would try to get this economy out of a ditch literally the first guy i called was jon corzine. not a joke. sheila! you see this ball control?

you see this right? it's 80% confidence and 64% knee brace. that's more... shh... i know that's more than 100%. but that's what winners give. now bicycle kick your old 401(k) into an ira. i know, i know. listen, just get td ameritrade's rollover consultants on the horn. they'll guide you through the whole process. it's simple. even she could do it. whatever, janet. for all the confidence you need. td ameritrade. you got this.

charles: breaking news from our friends at gas buddy. missouri joining oklahoma and texas, three states average price of gas under $2. market under pressure all day we were off 200 points, now between a branch of down 150 and down 190. it has come back a little bit. jonathan gruber facing tough questions on the house side of capitol hill. cia intelligence report on the senate side mostly democrat side of this, covering all of these stories for you. we had to take a little time out for vice president joe biden. he has made one or two gaffe in his lifetime. the latest is a doozy. >> you guys do understand by the way, at a single solitary thing a man can do that you can't do,

remember that. charles: sexist, condescending? you are just as good as any boy. >> he is so good at that. he should look at what is happening in the nation's colleges right now because if you look at it there are now more women enrolled in higher education than men and more graduates a four year colleges than men coming out get women are known to be better. charles: those ladies are learning to write computer code. i don't understand, i understand hhis old school and loosey-goosey, but at some point i kind of like him. i have a cd at home with his quotes. >> this is kind of rampant in that demographic, they don't realize how the younger generation has children now in college, kids and never new life

without the internet, so the fact it is a boy versus girl thing that comes technology is flat-out wrong. a lot of really and programmers and coders who are girls. charles: just as smart as the boys. a market selloff, charlie gasparino will join us with the company. and jonathan gruber getting slammed on capitol hill. he says talk to my lawyer. two minutes, we will be right back. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating,

or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor about spiriva handihaler.

charles: so much for dow 18,000. a couple of days ago we were just nine points away. that a big signing graphic, it was ready to go. now we have had our worst selloff in two months. big names that you know and probably own the don't tell me this is all about the fed. still plenty of time left to

talk about jonathan gruber and so-called apology for calling you stupid. here comes the second hour. ♪ >> are you stupid? >> i don't think so, no. >> does mit employee stupid people? >> not to my knowledge. >> see you are smart man who said some really stupid things. >> we want to know how much he got for the taxpayer and then got money and lied to them. mr. gruber, in a strange way, kind of appreciate what you said in the video because it seems to me for the first time somebody came clean and told the truth. he told people you are actually deceive us. it turns out it was the lie of the year. charles: some of the highlights from the first 90 minutes of the hearing. more on that in a minute, but

first, senator dianne feinstein still speaking on the senate floor, the head of the senate intelligence committee. democrats on that committee released parts of the 6800 pages of intel about the cia techniques used and terror suspects after 9/11. we are waiting on the congressman but first rich edson to give us an update, what is going on? >> the hearing is still going on, charles, this is very much jonathan gruber first public remarks that the others have surface. we have seen an apology and a request to discuss some of this of questions attorney. he says i knew better, i'm embarrassed, i'm sorry the still doesn't change the underlining fact he said the law was passed with deception. he said he sincerely apologize for conjecturing the runway. but the tone of expertise and in such a disparaging fashion, but

lawmakers are trying to figure out what he meant by those comments, was the law passed in deception. really, square that with remarks made a couple of years ago. also on this lawmakers want to know how much the federal government paid jonathan gruber. one lawmaker says his evidence two and hal and a half million s with federal and state contracts. he says he has divulged as much to the committee as he's required to do so under disclosure forms that if they want to know anymore about how much he has been paid by federal government or state government they have to talk to his attorney, charles. charles: let's check the big board. off as much as 200 points. just sort of waffling. s&p 500 also getting hits today and of course oil hit a fresh five-year low but it has been trying to find a bottom with a lot of the oil stocks find rebound there this morning.

gas down a penny overnight. national average $2.55. charlie gasparino is here. the dow was off 182 points. china was off 5% overnight. some worries of the fed statement taking on considerable time or whatever that is >> isn't that absurd? there may be a hand, not the actual action, but they might have to marginally raise interest rates isil it shows you how much the fed has created this market. the market is like a crack or heroin addict. the pusher is the fed. when you come off the heroine he starts detoxing like this and this is classic detox. don't sell your stocks right now because a correction is nice and i think it is going to bounce

back. i think a lot of good things with the economy. the economy is doing better. we can use a little bit of correction, a detox, right? we went down with those in points i would like it. charles: that is a lot of points. giving some back is not inconceivable or even a bad thing. >> there is a political element here. he appointed her to replace ben bernanke, i don't think the president is going to want to roll the dice on this market. if they raise rates, they will have to raise rates. charles: i want you to think about this, they cannot raise them in 2016 for that reason you just mentioned. as go to the commerce men who joins us now. thank you for the time, i know it has been a busy morning for

you. first i want to get your reaction on gruber and secondly on the intelligence reports. but first, what are you making so far of his testimony and anything in there that can sort of give us greater insight into what actually went on? >> he came out of multiple different places 20 different spots and said here's what happened, hi here's how they did it, here is what they didn't here's how they many plate things. they got it done. today he says i am an economist, not in politics, out of my league, i shouldn't have done this, i said statements that were stupid the base we came out and said i knew nothing of what i was talking about. so they basically never should have rocked me because i didn't know anything about anything, i am sorry bid a bizarre series of apologies.

charles: he didn't get little bit defensive of his model. he said nobody questioned me about my model. is that a place we can find out deception? ever been no space put economic model you can tweak it to be a predetermined outcome if that is your goal. >> it was obvious he was the administration used and sold to all of the states recommending the states use that as well. if you create a model usually pay for your work on that that became the model everything was based on. yes, it is fair game trying to get predetermined results based on the model pushed out by the administration. charles: now to the intelligence report. what is your take on it which mark seems the cia acknowledge early on some initial problems but they're very offended by this. so are a lot of americans who feel this is putting us in greater danger.

>> let me say this quickly, have not gone through all the pages. i have not gone through all the report but i would say the first response that came out of the president was this is the reason we had a low standing in the world. the bush demonstration did this, gave us a low standing in the world. i am appalled six years and this white house they're still trying to say everything is because of george bush, he is ignoring things like benghazi, syria, iran, in ukraine, our position in the world is dramatically weekend not because the cia interrogations, but based on current policies right now are the problem in our position in the world. as far as with the cia, and said, they said in any way they misled the public or the congress, that needs to be fixed. that is a protocol that has to be resolved. everything i have seen was legal for them to do, we can determine appropriate or inappropriate in

the days ahead but giving false information is definitely wrong and shopping onto the market people. charles: thanks very much, they really appreciate it. get back and get some more. maybe we can get him to turn before the day is over. >> still a lot to get done. most transparent the administration history is proving to be not very transparent. charles: i wis was to have the e urgency. that is so excited to share with us and be transparent about it all. >> pretty tentative to put out any of their own issues. charles: blaming bush was played out a long time ago. cheapest gas in the country in oklahoma. a gallon of regular $1.98 at the food mart right there. but hot on their heels $1.99, joining us is oklahoma city mayor.

you have one heck of a nice price war going on down there. >> good for consumers, that is for sure. under $2 per gallon, who would have thought that a few months ago. charles: i remember when they were taken down cities and iraqi soldiers taking up uniforms and running and we were talking oil, 150, 200, how did it come down this quickly? >> it used to be disturbances in the middle east made our gasoline prices go up, you cannot say things are very stable in the region now and our gas prices are very low. locally we have low cost of living, low gas taxes in general. you have a little bit of a price war going on in some intersections. all contributing to strea extrea low price right now. i cannot imagine it will hold forever. charles: maybe something like the keystone pipeline? if this had occurred this sort of shock, manipulation from the

middle east or whatever, we were always at their mercy. now we can really go for complete american independence when it comes to our fuel. >> we ought to have a national policy that tries to wean us off of middle eastern oil for we have the resources to do it, the energy companies, expertise and technology heading that direction. many are headquartered right in oklahoma city. we just need a federal policy in place to move in that direction. charles: are you hopeful with the newcomers next year maybe some compromises, keystone, explore crude oil, more liquid natural gas facilities and support natural resource? >> i think that would help but we have to continue to invest in the technology that will wean us off of this. we cannot be quickly concerned with what goes on the other parts of the world and have to make political decisions based on the price of energy and our ability to get oil and natural

gas. we have plenty domestically and we have to make sure that is our long-term goal and lon long-term plan. i am just not seeing it at the federal level. charles: this has been a godsend for most americans, but there are pockets of the country that have been booming because of this. oil keeps going down, would you guys have to sing your basketball team back to seattle? >> we are buffered a little bit. we are in the corporate headquarters of large energy companies and when the stock prices take a hit, there is a grander scale to look at for our greater economy. overall we probably prefer the price of a barrel of oil you little bit higher but you can't deny it is good for people who live in oklahoma city. charles: thank you for taking a timeout, we appreciate it. we have to stars from youtube.

the bryan brothers golf trick shot extraordinary. they will be live on the set, and another star, benson making good money with his partnership with youtube. and amazon and the plan for drone delivery. regulators hammering out the rules that will make them take this elsewhere. perfecting it outside of america. these stories and the lot more coming up. so,as my personal financial psychic,

i'm sure you know what this meeting is about. yes, a raise.

i'm letting you go. i knew that. you see, this is my amerivest managed... balances. no. portfolio. and if doesn't perform well for two consecutive gold. quarters. quarters...yup. then amerivest gives me back their advisory... stocks. fees. fees. fees for those quarters. yeah. so, i'm confident i'm in good hands. for all the confidence you need. td ameritrade. you got this.

charles: the fbi says no evidence north korea is involved in the massive hacking attack on sony pictures. initial reports pointed to the new movie "the interview," he calmly about two journalists enacted by the cia to kill the north korean leader. next, deirdre bolton has an interview with james franco who happens to be the star of that movie. at 2:00 p.m. melissa francis talks another guy, dennis rodm rodman, he is a fox business exclusive. a heck of a lineup today. back to the market, apple down again, apple under lot of pressure lately.

>> the dow down 168 points right now. don't forget, apple has been a stellar performer this year, high hopes for the holiday season going forward opening any research site in japan where they have a great market share. iphone at 48% of the market. and look at tesla be at another winner of 48%. today down $4.57. that could be in part they had been cautious, gas prices low, suv sales have been doing very well, so tesla has been out of favor as of late. back to you. charles: thanks a lot, we will be back with you shortly. bob wright cofounded the charity

autism speaks in 2005 after his man on mack grandson was diagnosed with the disorder. today he is with us for a major announcement and partners with google. first tell us about it. >> "missing" potentially misspelled. with 10,000 individuals and family members of autism that we have collected over the many years and this is $50 million project being done by autism speaks, done by autism speaks canada as well as united states, canadian government and with help from google. charles: google, one of the founders i think one of his kids has disorder. they have been involved in projects completely off the

high-technology radar but they are serious about this kind of human health issues. >> yes. i think there's a lot going on there. but he knows parkinson's too. they determined they have the scientific ability to make a big difference in medical and scientific research by husbanding this data ability that they have and directing it for a day not a search but at a whole genome sequence the involving trillions of pieces of data, where the first ones are doing this with, autism is very tough so they picked us as we need the baseline but if we go through this there is a wall. when this happens, it will affect other conditions and

diseases never positive manner because some they will have looking through this incredible wall where biological science cannot get past today. charles: i remember 20 years ago where sequencing the genome was all the rage. it sort of seems a got all down. this is sort of reigniting the feeling this could lead to mind-boggling things for a decade to ago. >> there were two other organizations that have come on the scene. one is the mayo clinic now providing whole genome sequencing for cancer patients, and up in boston institute with it prominent cancer research institute doing it with current patients, but there are two issues. the cost of the genome sequencing was so expensive the

federal government doesn't do it, it isn't possible. that has really gone down. and after you get trillions of pieces of information, how do you compare the samples? that is where google comes in. they will store it, build a scientific portal on the cloud platform for scientists all over the world to see this and they will try to break down all of this data and make it so it can effect only be used for research purposes would lead to treatment and possibly lead to a cure. it will open up for autism in a way we could never do. >> it is the benefit here. >> the line will be long when we get through this this portal should be open in the first two quarters, maybe by june 2015 and scientists anywhere in the world can get on. they have to work inside the

google platform. the don't have tools to do it other than that. charles: how surprised are you that your logo on it started appearing the puzzle piece, people did not know what it was ththat popped up everywhere. the public embracing of this in my mind has been absolutely phenomenal. has it blown you away? >> people didn't understand the head no help, they all have health care, these people are not unemployed. they take a medical card and go to the hospital, they take it to doctors offices, we don't treat autism children. the company doesn't have an exception for autism, how can this be. people have recognized probably 3 million people in united states with autism just from diagnosed two adults, that is unbelievable.

charles: congratulations, we wish you well. >> you might se say we just announced a program with twitter people dropping the vowels from their names flashing around a lot of sports figures are doing this. and we had a chance to get with the pope two weeks ago and he did three-day symposium for autism at the vatican next to his chambers three days. spectacular. charles: thank you a lot, really. tgi friday's began using drones indoors to fly mistletoe and stuff over customers. the outcome not too pretty. we will explain it next. ♪

here's a question for you: if every driver in the u.s. kept their car's tires properly inflated, how many gallons of fuel could america save each year? up to 2 billion gallons? 4 billion? 6 billion? the answer is... up to 4 billion gallons. by keeping your tires properly inflated, you can increase your car's fuel economy and reduce its co2 emissions. take the energy quiz -- round 2. energy lives here.

charles: check out the big board, the biggest selloff in two months returns the market, it is the dow off 177 points. now here is from the stupid files. tgi friday's i was a good idea to fly drones indoors around the restaurant hanging mistletoe or

sound like a lot of fun to spread holiday cheer but all went wrong for one customer at a brooklyn restaurant, and loss control while flying and hit her in the air, caught her in the face, her face got cut up, it could have been a whole lot worse. tgi friday's says it will longer do this sort of promotion. what do you think? >> i was having a drink with george and one of those came over me. >> for some maybe the holiday festive way to break the ice. that is what holidays are all about. >> some people get to creative with this stuff. i remember many pitch to fox business we should have a monkey throwing dirt at a board of stock prices and seafood win, a monk your jim cramer. i was shot down immediately

because you never know, never want to do live events with animals, with wild animals. i think this falls in that same category. charles: amazon, let's check the price of amazon. up a little bit holding 300. they are prepared to launch a one hours delivery service. good old-school bicycles. it is going to launch in new york city because the rules are so much the company is threatening to shut down the hall drone fleets and take this elegtechnology and advancementsf it from the country to someplace someplace, he will welcome it. >> this is a good use of drones. part of technology, he will not put the genie back in the bottle.

the stupid thing is we have to take it overseas. charles: there has to be a way you can start small town, and little bigger towns, you don't have to start in manhattan. >> keep it away from manhattan for a while. but start in oklahoma. charles: obamacare consultant consultants/architect jonathan gruber getting drilled on capitol hill. we will go back to washington, d.c., after the break. and millions of views on his webpage so how much money does he get for a clip like this? he is up next. >> as soon as i land it is like let's go out. going to take the flight first. >> are you talking to me? >> no, i am on the phone. sorry.

you can't breathe through your nose, suddenly, you're a mouth breather. a mouth breather! well, put on a breathe right strip and shut your mouth. cold medicines open your nose over time, but add a breathe right strip and pow, it opens your nose up to 38% more. so you can breathe and do the one thing you want to do, sleep. add breathe right to your cold medicine shut your mouth and sleep right. breathe right. and look for the calming scent of new breathe right lavender, in the sleep aisle. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity

across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500, its yield is doing a lot better... if you've had to become your own investment expert, maybe it's time for bny mellon, a different kind of wealth manager ...and black swans are unpredictable.

charles: let's check on the big board. off about 170 points right now. bluebird by oh.

the ceo retires effect if immediately. investors love that this guy is out of there. he was a real jerk. making something of a reversal. maybe it is making a stand here. can it hold above 60? >> that is what the saudis say. here we sit, let's not get upset about these lower oil and gas prices. they equate to a higher gdp. it is not really happening anymore. all of those people out there

that think these lower gas prices will fall through, not so fast. charles: more highlights for you. listen to this from congressman from north carolina. >> the president said would you like your plan, you can keep it, turns out it was the lie of the year. i appreciate your honesty. i think it is horrific that you participated in some level in securing the truth from the american people in order to pass this on the hill.

>> this is the first time that jonathan gruber has spoke. >> i want to ask you, are you sorry? when did you realize that these comments were inappropriate? it took you about one year to apologize when did you realize that these comments were indefensible and inappropriate? >> i honestly did not remember making them. >> you do not remember saying that? >> i do not. they were thoughtless comments

that i made. >> professor gruber, let me just say what it looks like from this vantage point, you thought that they were really funny until the video showed up. and then even then, it took you a little while to apologize. >> the hearing is still ongoing. joining us now is congressman paul. it has been a very heated morning. but it does not feel like we have necessarily learned a lot. there have been some contradictions with respect to gruber's testimony. do think we will have a subsequent follow-through?

>> absolutely, charles. he said he did not live. he was all about the detail. once again, it is a shame. that is exactly what this individual thought of this process. apparently, everyone knew that it was a tax. then, the modeling. it seems like the model was pretty interesting. >> absolutely. the third one is the subsidy issue. they do not allow for those subsidies and a federal

exchange. charles: representative, we appreciate you taking time out. thank you very much. youtube says it will keep paying big money. they want to keep the stars. in part, they said that they created them. you have a contract with you to. this must be great for you. >> i have a standard contract that i have always had with you to. >> it has been a great deal for me. what is your deal with them? >> i managed to get about 5 million to 10 million views a month.

the ones that continue to get the millions of views and continue to get the business. that is basically how it works. youtube is available to anyone. it could become a viral hit. it is not quite as easy as it sounds. charles: what about grumpy cat? you have to step it up here a little bit. [laughter] there are all sorts of things that people watch on youtube. it is pretty remarkable.

>> what kim kardashian could not do, youtube video did. thank you. your stuff is fantastic. >> college football. how'd do the people cash in on it? we will have answers from the man running it. next. ♪

nicole: i have your fox business brief. the dow is down three quarters of 1%. the nasdaq down six. some of the names, telecom. particularly weak. at&t down 3%. the fear index jumping again. mike jeffries stepping down. retiring officially immediately. last but not least, amazon trying to get you your packages fast. how that is affecting regulators. amazon up 1% right now. more "varney & company" coming up. ♪

that makes our lives possible. because we do. we're exxonmobil and powering the world responsibly is our job. because boiling an egg... isn't as simple as just boiling an egg. life takes energy. energy lives here.

charles: looking a little bit better. apple apparently hoarding all the inventory. we know you love apple. is this good for their bottom line? >> yes. i still like the company as a

buy. setting a record for the iphone launch recently. i think that they will have a great christmas. charles: luxury cars have been going through the roof. >> it is on weak technical problems. this company has a lot going on in 2015. people do not go down to the dealership because they think that oil prices will go up. they are not factoring in whether they will pay $4 or 454 to 75.

charles: people are not buying mcdonald's at all. do you think that it is getting there? >> no. i have it as a cell. look, i like the margins. i think that there are better stocks out there to get. they know that they have problems. they are trying to hit a moving dartboard. i think that they have a little bit of work. i have it as a cell for a little while. >> just so fat greasy food that

people like. [laughter] >> good to see you, charles. charles: they will play in the rose bowl and the sugar bowl. big-time money for the team and sponsors. congratulations. this is a big-time game. that means a lot to a lot of people. i think it has a lot of people excited about college football. >> it does. the elevation has made college football the second favorite sport in this country. only behind the nfl. >> you are creating new

rivalries. now, you know, it is different. the south versus the north. >> most definitely. the number one defense in the country of gives against the number two offense in the country. these games are very important to college football. very important to espn. very important to the sponsors like chick-fil-a. very important to the fans. >> it has feel under seems like it has changed exponentially. >> we went out and recruited the high school football college hall of fame. very interactive in atlanta. we started to take off games.

now, we have the new college football playoffs at the end of the year. charles: gerri, let's talk about the money. what kind of money are we talking about for the whole thing? >> there is 38 bowl games. charles: -- >> there are more teams eligible right now. you have to be six and six. charles: a lot of people a little unsatisfied. will they expand the playoff system? >> there is a contract for 12 years.

the regular season is worth something now. i think that bills all throughout the year. very important to say that the regular season means something. charles: adolphe thrift shop. wildly popular on the internet. we have these two men. they are brothers. they are up next. ♪

charles: breaking news. the irs made $14.5 billion in wrong payments in earned income tax credits. it includes fraudulent and erroneous claims. about one quarter of the total amount paid out by that program. you may know our next guest from their youtube videos. their names are helping you improve your golf game. you did not bring clubs or anything.

i thought maybe we would have george over here blindfolded and you would show us something. >> it can be pretty dangerous when you are in a studio. [laughter] everyone is talking about these youtube sensations. $100 million in two years. i do not believe it. i think it was 99. there is something you may want to can better. >> yes. i think that that is the plan. we just want to keep growing. charles: you guys both inspire to be professional golfers. >> we are basically just paying them any two words. you pay your entry feed. charles: when i was a kid, i would go see the harlem globetrotters. what is stopping them?

you have to be just about right there. >> it is a work in progress. we are just trying to get better. a decline in participation of golf. our audience is definitely targeted towards the younger generation. as long as they see us having fun with golf clubs in our hands, hopefully that will drive them to it themselves. charles: we love watching your stuff. keep it up. good luck with everything. the cleveland brown's say johnny mandell will start the game on sunday against the bengals. we will see what he's got this sunday. more varney next. ♪

charles: now to deirdre bolton. >> a big media show. how worried he is about the sony hack. >> watching my money every day. other than that, definitely. adam: teen a new reality show from a somewhat unusual show. tim draper on what he is looking for. president obama showed up on the colbert report last night. >> media cable ratings. deirdre: private equity titan is our guest in just a few