that will do it for the opening bell. charles: good morning. i am charles payne. stuart will be back tomorrow. cyber crime. things are under attack. is your information safe? that is the topic on capitol hill. do not worry, we have it all. varney and company about to begin. ♪ >> let's get to the cyber

threat. we were off about 160 points. you could see opening down under pressure. stocks down. it seems like they are now trading in direct correlation with oil. we just added inventory numbers. inventory went up 1.5 billion barrels. this hour we have mary kissel from the "wall street journal." we talk about the benefits. there are some things to be worried about when oil starts to crash. you remember when you said you cannot just drill out our way to

lower gas prices. there are no quick fixes or silver bullets. i am seeing a lot of upside from this, charles. >> it was associated with massive pullbacks. this is different this time. the way america produces its oil and gas. this is a technological step up. this is something that will happen over a period of years. i am not saying that we will not see the price go back up, you will see that play out over a period of years.

charles: i got a report. it went down month over month. pulling back a little bit on this drilling miracle. this is where everyone in america is rejoicing. now to the federal government. they actually cut their prediction. this gets back to you. something we all can rejoice in. is there anything else that can compete? >> most of us are a commuting society. we are in our cars. it is not just terrific for commuters. it will lower the price of

everything that is transported and made in america. charles: to your point, as long as it keeps coming down -- i call it backwards prosperity. we need higher wages. that would be the ultimate one-two punch. higher wages are the affects of a healthier economy. if you get 300,000 jobs created in one month, you have 4.8 million job openings. maybe the next thing -- >> we had some good wage gains in the last job report. we have the prospect of a republican controlled congress that will not layer more taxes

on the heads of ceos. charles: it is sort of bipartisan. he took out the chance. the feeler, if you will. now would be a great time to change those. everyone has stories. what are we going to do about it? >> the obama administration spent how much? why weren't the bridges and roads developed then? charles? one thing they could do is pass spending measures individually in regular order. giving our politicians a chance to vote.

>> how about some accountability. let's talk again. first, i want to talk about this debate. big financial institutions. an executive with citigroup says the service sector is at war with cyber criminals. with 10 million hack attacks every single month, jpmorgan reported 76 million households. ceos of cyber response. these guys always seem to be a step ahead of you and everyone else. >> a proactive response at this point. we talked about how we can pro- act if we get one step ahead.

that is getting technology approved. you cannot show up to battle after the war has already started. you will have to start spending money now. to me, it is really getting everyone on the same page. getting proactive consultants out there involved. you would be surprised that company boards are still resistive and listening to the security guy. corporate america saying government should put something in there. it will take an absolute major disaster. people losing a whole lot more

than they have rad lost. until you get security leadership, that understands the proactive approach, this will be hard to convince to teach an old dog new tricks. no pun intended. it is a lot different world to manage. charles: a lot of people growing up with that don't have the credit cards. we really appreciate every time you are on the show. the fbi issuing a warning for state and local governments. this, of course after a day they released a report outlining interrogation techniques.

concerned veterans for american ceo. tell us now what we are looking at. >> and irresponsible and reckless action. there is now a new manifestations. their desire to find that sense of military members here in the united states. there is no reason why. a long-term ideological war. there are things that we are deep new and have change that frankly, when you look at other reports, they went a long way in helping us find those responsible for the attacks of

9/11. charles: everyone has probably already decided where they come down from this politically. we heard about all the marines that want to go on high alert around the world. here at home, if something happens and it is associated with this, some sympathizers reading this morning, who shall we hold responsible? >> folks that have politicized this very process. this is western guilt. the manifestation of a blame america first crowd. i will defend 99.9% of what our officials did to get that

intelligence they need to break these guys down. ultimately, these threats, they are never straight lines. they are dotted lines. they unpacked how al qaeda works. to politicize our intelligence. to craft narratives about the bush administration. these types of reports are dangerous. >> let's just pray that nothing happens because of this. i thought that it was you responsible, too. it could have, at a different time. thank you very much. charles: overturned the insider trading division. three judges say prosecutors

took too broad of a view on the law with their crack down with wall street. these two men, they were in the newspapers every day. these, this actually could be a major blow. we are going to go into a lot more of this. mary is shaking her head. obamacare architect. jonathan gruber. apologetic about calling americans stupid. he is still lawyering up. >> i apologize. it is never appropriate to make oneself seem more important or smarter by demeaning others. i knew better. i know better.

i am embarrassed and i am sorry. ♪

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i have $40,ney do you have in your pocket right now? $21. could something that small make an impact on something as big as your retirement? i don't think so. well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. ♪ charles: if it feels like yesterday, well, it is like

yesterday. time for your morning gold report. gold had a nice move yesterday. this might be the launching point that they are waiting for. the parents of taco bell and kfc. a big loser again today. >> they have to lower their full-year profit. there will cover he has not been as fast as mcdonald's. they did cut their full-year profit back. you had several analysts including barclays cutting their numbers. they underperformed what they expect it to do. you are seeing the stock down four and a half% at the moment. they have kfc, taco bell and also pizza hut. this company is given a weak

outlook. that is really the issue. it really is detriment to the numbers overall. >> these large restaurant with tentacles all over the world. thanks a lot, nicole. jonathan gruber has lawyered up. do not worry, everybody. he is sure he's sorry. let's take a look at the tape. >> are you apologizing because you said it or because you meant it? >> i was completely thoughtless and using inexcusable language. >> it tends to undercut the notion that you were sorry.

charles: he açai they got busted, but not for anything else. republicans did not really get any new information. mostly what you got from this was he said he was sorry. later in the hearing, it was nearly four hours long, they asked him explicitly if the comment he made in those videos, where they lies? he said they were not lies. whether or not he actually lied when he made those comments, he

said on at least two locations he did not why he just should not have been talking about things he did not know about. charles: the idea that you had to confuse the public about whether this was a tax or not. i kept coming back to that. it felt like to me, it was a predetermined outcome. everyone looked great. >> they do have a lot of questions. i do not know if they necessarily got any valuable information. in terms of the economic model, he kept saying, when it comes to the subsidies, he said any time i had a motto, i intended and

planned on it to the subsidies for the federal and state exchanges. >> they were pressing him on that trying to get more answers. charles: round two. the last chance to probably get anything of substance to your point. what does the gop go after? >> who did they speak to. they were asking specifically if gruber ever talked about the ceo. they kind of jumped to the question of who did you talk to in the administration. the reason why you saw yesterday , they were testifying and said both of them represented the main problem.

there has not been transparency and the passage. i do not think that they are going to let up on it now. >> thanks a lot. we really appreciate when you bring stories to us. it is christmas time. time to get out and shop. bill o'reilly's producer did just that. more on this next. >> look at that. you did not even see how much it cost. ♪

you never jim jam shabriver flab dry ris.o is, bliss pounds hazy dray? drywall sh-boop leaver - murray. hey, big bog panorama corn salabaty? dude, squibble bits. mareyayzee. mormal snap jebby rolban jebby deetle flosh. [laughter] eh. now's the time to get in the loop. just look for our fall tv picks with xfinity on demand. huh. quickly find the season's hottest shows, huh. quickly find the season's hottest shows, with a handpicked collection all in one place. only from xfinity.

. would break through 60 today, dragging on big oil names like chevron and exxon. you have among your screen absolutely slaughtered but other teams are down more. we have debated a lot whether or not consumers in america is starting to die but o'reilly's correspondence jesse waters wants to make sure doesn't happen. he caught up with some folks in costco and did his part to keep the buying alive. roll tape. >> throws those rights in fair.

>> tell them to pop the caller like me. i am not kidding. there you go. throw it on the part. you didn't see how much it costs. doesn't matter. >> we have been asking repeatedly on our face book and twitter pages with you are buying less this holiday season and here are your responses. sally says she is spending less, adding if parents are not getting better is better to spend time together it's than spending money on gifts and cocos says i am buying nothing. to forgo holiday shopping this year we all agree. i you taking that advice? >> you don't want anybody to spend beyond their means. we love our credit cards but we have credit limits and penalties for spending too much. i am spending frugally this year because like everybody else, we

are 2% economy. charles: why you afraid? are you doing this with the national movement, no more consumerism, frugality for all? >> i like to die gifts, i don't go overboard. charles: there is something interesting out there with respect -- consumer credit card, done to the peak. we have things like student loans through the roof but people have gone back to debt that, even in the last couple months is beginning to change. >> there are other ways to spend time and money. you can have a meal with your family, and give of your time at your local church and community center, you don't have to buy the biggest big screen tv all the love big screen tvs.

charles: a judge overturned insider-trading convictions putting others in play. it can change the way the justice department doesn't it with further investigation on wall street. all rise. the judge is next.

charles: check the big board, down another 20 points. we may test the lows of the day. oil might be the culprit, fresh new 5-year lows. the big question is when will it break $60 a barrel. gas is the positive sign, down another penny of the night. down $2.63 and get this, 47 states and the district of columbia have an average gas price under $3. new york is the lone holdout in the lower 48. the cheapest gas in the land is $1.98. thanks to lindsay for sending this photograph, and if we are almost there. that is that the local kroger. the greenys may be delaying keystone but oil pipelines may be coming out on top. jeff flock, where are you now?

jeff: in pontiac, ill. at the head of the flanagan south pipeline, an exclusive tour of this. this is where the pipeline which began operation last week begins to pump oil south of chicago in pontiac. a fellow with me runs the whole pipeline. how many miles? >> 593. all the way to that hole but in crushing there's more construction going on. that is another pipeline being constructed as well. some may be on keystone winning that fight. the overall battle for pipelines arguably is moving forward. >> this is what we are touring later on fox business showing how this pipeline works. is an amazing system, 600,000 barrels of oil day. how big the pipeline is, these

are little separators that go in between the oil, various kind of oil, it is this big. that is how big the pipeline is. run all that way to oklahoma. pipeline business in operation. we will talk to mike and ask tough questions like our pipeline safe and what about that dirty canadian oil? that is the question you want an answer to, environmentalist that you are. charles: senator mary landrieu in her desperate attempt put it the best, 2 million miles of this stuff already. what is another cheap pipeline? of your pieces, see you again soon. huge news, federal appeals court in overturning insider-trading conviction. level global investor, and any sheson, judge andrew napolitano, author of suicide pact is with us. what does the ruling means for others insider-trading cases and

bills? judge napolitano: insider-trading is an area of the law with blurred edges. prosecutors like to keep extending the edges out so they can insnare as much commercial activity as they want and decide to persuaded jerry what is criminal and what isn't. these two gentlemen were convicted of providing inside information to others who traded on that information. the court today said that is not a crime unless they received some benefit for providing that insider information. without providing, without receiving a benefit there is no criminal activity. there is no evidence in this case of a benefit. it seems a little complex. it is huge because this makes insider trading cases infinitely more difficult for the government successfully to -- charles: think of these big-time cases we have had recently there a people in jail right now didn't benefit. they told a buddy who was a

hedge fund manager, no proof that they made any money. judge napolitano: if the court decides, this case is ambiguous on this point, if the court decides this decision is retroactive the united states attorney and southern district of new york in new york city will be the recipient of many profound appeals that he will probably lose including people that are everyday names in the commercial world. this court is the united states court of appeals for the second circuit, the second most important court in the country on commercial law. it governs new york and connecticut and the area around it. charles: you think insider-trading should be free-flowing information and should not decriminalize. would you think about the investment community? we had high-frequency trading which was a big deal this year and the average person watching this show already thinking the big time guys, big billionaires', traders on wall street have an edge. if they are allowed to buy this

information, tuesday's news on monday, how can they make money? >> mary may agree that she can speak for herself lycia is an expert on the economic aspect. the definition of crime versus -- for 600 years in great britain and here has been harm. where there is no harm there is no crime. the government cannot articulate who is harmed by this? >> the government doesn't want to articulate that because you have prosecutors who want to make a name politically for themselves. who would have thought? >> the reality is these are not bright lines, the government doesn't want there to be bright line so they can sue people and put them in mail. >> people watching this show think the game is rigged against them and if we say let's remove this part of it and these guys call each other up and know

about news coming up friday, load up on the stock, how does the average person getting? >> insider trading is not a crime because there is no victim like the judge said but in terms of the average retail trader, the market has developed since the 60s and 70s as it will in the future. you don't make money from trading individual stocks up and down unless you are a professional. the average investor is putting their money in mutual funds for low fees and doing well by that. judge napolitano: insider information is marketable, people will pick people like you to provide it to them and analyze it for the man you have competition and that keeps your price down and your competitors's price down. >> we have these firms to our expert firms that are paring investors on the field. is that illegal? charles: i already believe 90%

of news was already leaked even after all the rage. the stock trades and million shares on average, one day it trades 2 million shares and the next day there is big news. >> you want as much information. judge napolitano: if at&t is going to make a major investment tomorrow, why shouldn't i know that today before i buy the stock? why should i guess and rely on weeks rather event spurious hard-core information i would pay somebody like you to sell. >> ultimately the investor, the retail investor is taking a long-term view. they should be taking -- judge napolitano: why do prosecutors like to prosecute this? it is amorphous, they usually win and the bigger the stock on their pelts, the better known the defendant is, the more likely the prosecutor is to advance in his or her career. charles: this is low hanging fruit, wall street is unpopular with the public. any time you take down one of those nefarious people people

love it. >> the president has been denigrating wall street and the financial sector red lodge for six years. judge napolitano: this is an enormous case that should resonate all the way to the halls of congress. charles: i think it will. we are lucky to have you hanging around. judge napolitano: always happy to hang around especially when mary is here. charles: turning $10,000 into free hundred thousand dollars sounds too good to be true. believe it or not, that kid will come in and tell us how is done. it is his story and he tells it next. ♪ (holiday music is playing)

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nicole: i am nicole petallides, ten points off of the lows of the day, the dow down 3/4%. energy is the big lagger in the s&p 500 down 16 and the tech heavy nasdaq down 27. look at the dow losers, and indeed the big loser today for chevron and exxon down 3.3% for chevron, exxon 2.3%, verizon and other laggers and materials industrials a big week, talking about energy look at some energy names in particular. neighbors industries down 4.5%,

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charles: we have breaking news for mcdonald's, it will begin to simplify its menus starting in january. a lot of negative articles in wall street, 120 one options, as they got where it can take 7 minutes to get a burger. what about getting back to basics? >> i do not go to mcdonald's to eat healthy food. i go for the flurries. and -- charles: jack and a box. >> we have a shocking number right now. at the americans first-year college students are underestimated, how much they hold. only one third of first-year students have an accurate idea what their student debt is. we talked about this, student

debt is at $1.3 trillion, a lot of people consider it a ticking time bomb. >> they go to college but also these students have no incentive to know what their debt load is when interest rates are where they are but that is basically free. the white house coming out and saying when you go to work in public-service we will forgive your desk after a certain times of what is the incentive for students to keep track of their debt burden. charles: feels like a lot of things. we will forgiving all at some point. >> they killed the private student loan market. we have natial th chaes: the ivatsect, ey d notive t a 0,00 for vanc bast waing. havsomee whdoest ha to wry aut thi is kid turned $10,000 in investment and penny-stock to

$300,000, and -- >> i started my first job my freshman year of high school. a busboy at a local barbecue restaurant. and a savings account, my dad and i teach me about fundamental investment, verizon, at&t, boring stuff that doesn't move. and in september of 2013, and a liquidated my account and after listening to a conference call, penny-stock, put money on that stock and by december it was over $90,000 profit. charles: why is this particular name hit you. a lot of stocks and penny-stock

out there, you sensed that it was a grand slam. >> they were trading at 0.3, 1/3 of a penny. in my mind it is a no-brainer, stocks go to a penny, $20,000 right there and stock continued to run and i was up on paper, $150,000. sell, sell, sell. isil did until december. thought i had a strategy figured out, i turned that 90 grand down to $52,000 in march of 2015 and i turned it up to $320,000. charles: how many -- are you actively trading right now? i you doing the same thing, trying to find these diamonds in the rough? >> actively trading. all the penny stocks and the sec starting to enforce some of them. i am trading a lot of these gold

miners, lot of these oil e t fs, 1900 trains from september of last year. charles: absolutely amazing. you are in the business of giving advice. >> i had a lot of people contact me, my stories are intriguing and my strategy, what i'd do is i teach my strategy and what i know, live videos, i explain my strategy every trade i make i record and post it. charles: what i like about you is you are not promising the moon. a lot of people making some promises. very reasonable about this but the bottom line is people with the right discipline can make a lot of money. >> my strategy is pretty basic. i am 17 years old. i am an average 17-year-old kid. the strategy works for me trading on my iphone. it could work for somebody in a

cubicle. >> did people have to pay for this? >> we charge $127 a month. after hanging out with you guys, something cheaper for fox viewers. >> going to double the price of services. charles: before we let you go, what is the one nugget you share with a lot of people, people sitting on the fence 17-70 wanting to get into this market and an amazing rally, don't trust the market. how you became brave enough to take this money and build a lot of money off of it. >> i'd do it because the market gives you the ability to turn a little bit of money into a lot of money and there are various investments you can do in terms of what i do, extremely risky at high reward, you can't expect to go from one level to another level without doing something different which is investing in the stock market. charles: congratulations. we appreciate having you here.

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charles: we all know flying has its share of headaches. recent flight from new york to south korea, cheryl casone is here with the story. >> you give the acts flight attendant the evil airplane story. this was at jfk to south korea flight, this executive whose father is the chairman of the conglomerate and earning a stake in this, basically she gets into a first-class, chiefly intendant goes to serve her nuts. he doesn't ask if she wants them. they pull away from the gate, she tells the pilot to go back to the gate, i want him off the flight. according to eyewitnesses she was in a rage.

the backlash in south korea huge. they are calling on the face book page, calling their nuts instead of korean air ended goes to the point this is a huge controversy in korea where these conglomerates are run like family dynasties. she and her father to kim jong un in north korea. this has become an outraged story. he did resign from the airline but she is with her father's company coming in. charles: this is a big thing. the president of south korea ran on a platform, the irony is her father helped put them together. he was murdered when he was president. after that ferried the accident when all the teenage kids died, there is an anti big business. . it was not on her part, no pun intended. >> politically there's no constituency in south korea arguing for free markets, supply-side economics. >> she is being called a national embarrassment bad this is a national issue to your

point that will continue to change south korean business and affect american business. charles: uconn argue they have more power in south korea than kim jong un does in north korea. thanks a lot. colonel ralph peters is next and there is never a shortage of strong opinions from him, he is ready to sound off on democrats jumping all the cia interrogation info in the public, new at 10:00. here is what happened last time he and i got together. >> i am sick and tired of big business telling me it is patriotic to pollute. i stand for america as a beautiful. we don't talk to fight everything. i think clean air is patriotic. how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry 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 our mutual funds beat

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you. this is the latest in the effort to shame capitalism. by the end of the year, the fec could put this rule into place. already planning for possible problems. it is going to fire up that uber liberal base. let's get our share. elizabeth warren. the voice of the progressive far left. the second hour starts right now. ♪ the income inequality fight probably will soon have lots of salaries made public. cheryl casone, where did this role come from?

cheryl: it actually was part of the mandate of dodd-frank in 2010. it could become the law and 2016 if that fec implements it. i will keep you posted. any public company would have to disclose the pay discrepancy between the ceo of the company. if you look at pay discrepancy in this company, believe it or not, the average ceo makes 331 times what the average worker makes. five and a half percent. also, what are investors going to do? shareholders? the ceo does not need to make this much. >> if you are the ceo of coke --

charles: elizabeth wore in. >> i am going to push back a minute. whole foods have been reporting the difference. there is no worker walkout over this. boo-hoo to the ceo that gets upset. >> more information for the market. >> it became a lot of bad. >> that story did not go anywhere. it died on the vine. who cares. charles: the thing that worries me is i do think that this will be the central issue of 2016.

we have this great american country. why are so many people not making money. elizabeth warner will run and, i think, she will beat hillary. the issue is, income inequality. how do you get there? could it be the regulatory dump truck? they don't more than 3000 new rules on companies? here is the thing on elizabeth warren. we want elizabeth warren to run. they have a grassroots infrastructure. this is a serious threat now to hillary clinton am. >> there are three lawmakers that have come out and they are fighting the fec on this rule.

this could be part of the political fight that we see 42015. we now have a senate that will be ran by the republicans. when you talk about the broad issue of income inequality, you have to factor in this. charles: there are a lot of people out there that only no on tng. certn pele a making this much and others are making this much. if you want to close that gap, close it this way. >> be fair in the reporting and count the government and worker benefits. you also have to count food stamps and unemployment benefits that people get in the lower bracket. >> yes. there is no doubt about it.

from a political point of view where some people want to take this country, i think it isprob. under pressure out of the gate. why oil. down almost $3. almost 5%. the good news for all the consumers out there, lower gas means more money in your pocket. i want you to take a look at this photo from karen johnson. $2.29 in texas. you guys should have the cheapest oil out there. bank executives saying that their industry is at war with hackers. up to 10 million attempted cyber attacks every single month. jpmorgan announced 76 million

households may have had their information stolen after a hack attack. all right, peter, can the government do anything about this? >> they will try to throw more money at the problem. it includes additional funding for some government agent to that might cyber crooks. one program is getting six and a half million more. the energy department getting 25 million more for cyber security despite more money. they are asking for more powers to fight cyber crime. they asked the legislation to increase information sharing between the private sector and government as well as new standards board data breaches. charles: the answer is no, but we will throw money at it.

the cyber attack at sony pictures. several big-budget films have been leaked online along with their personal information. they are now saying that sony will just do nothing. elizabeth macdonald here with more details. >> we have been working our law enforcement sources. what is happening now is north korea is still on the list of culprits. even if they are at fault here, what the workers are saying now is can they sue north korea? no. what we are seeing now is the level of detail about the worker's personal lives is astonishing. we are talking about medical records, health insurance policy numbers. the fbi is talking to sony workers today and friday. one on one meetings.

the fear now is that sony itself could get sued, charles. california has a really tough privacy law for workers. even if there is no direct damage. charles: i heard yesterday that this thing will cost sony 100 million. >> i do not know how they arrived at that. the profit is in the hundreds of million dollars. this would be a big hit for the company. >> you have to wonder if this is an inside job. one disgruntled employee. they are questioning how safe they are. charles: bottom line, they should have protected their employees. a lot of corporate america in

general. major backlash. listen to what former cia director had to say about it. >> what if you had to undergo some of the treatments we are reading about in this report. >> i think that my concern or outrage would be somewhat muted. charles: lieutenant colonel ralph peters is with us. i thought that the question was out of line, myself. i loved the answer. >> it was a cheap question. no surprise. how many of his family are terrorist. that is just absolutely

disgraceful. the only thing anybody has to pay attention to in his bias, dishonest situation is the little clause that says no further legal action shall be taken. that tells you that these defenders of freedom know that none of their claims, their bogus lies would stand up in court and senator feinstein does not want to be called to court to testify under oath about what they knew. it is all a tissue of lies. >> that tissue has been spread around the military community. now, a lot of our men and women are put in harms way. even locally, we are hearing about state and local officials to be on alert for a prize owes because of this report.

>> it was not only unnecessary, it was malicious. to do not give me blabber about our commitment to justice. what practical good for american security was achieved by releasing it? none. quite the contrary. future captives will be treated much more badly. they are all endangered for no good purpose except for senator feinstein. charles, i come out of the intelligence world. i do not know a single person in the intelligence world who believes that those interrogations did not result in terrific intelligence.

we are hearing a lot of lies and distortions about how intelligence works. you do not waterboard and have someone pop up and say bin laden will be at a certain place tomorrow night. you get bits and pieces. everything that was done in the wake of 9/11 was done to keep us safe. everything that was done by the cia, every single thing that was approved. >> we have 30 seconds left. what do you make of the notion that we had to do this because we wanted the world to appreciate us. is this part of that bowing thing? >> it is total bull. we betrayed our allies by

releasing this report. while the terrorist respect us for admitting we did something wrong? no. they have lost the will to defend themselves. the american people have not lost out well, but leaders have just lost the will to win. they are more worried about our good manners banned the feeding the terrorist. charles: you put it so much more eloquently than i could. thank you. at the break, tv star launching a clothing line. he is here on set and he is next. stay with us. double local

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charles: if you don't know am from beverly hills and 9021 oh, then you definitely recognize him from this. >> get out of the way. move. ♪ charles: he got a big jump start to his career. now, he is working on another sequel. in the meantime, he has his own line of clothing. this whole thing is just absolutely amazing. you will not let the momentum die out. you are going to take it for all it's worth. >> you just don't let it go to

sleep. sci-fi, they are bringing shark made 02 television screens next summer. i have been busy working on the apprentice. getting my mba from trump university. all that experience has really created a lot of personal growth for me. i realized that i was capable of focusing on other things besides show business. when i put my mind to it and find other capable people that can help facilitate what my goals are and are like-minded, we work together in creating things. my business has just taken a huge upbringing. charles: did you have the beep if any? >> i was talking about what

build a strong brand. it needs to be something that you can identify with. the chainsaw, i was a immersed with it at the time. it is a tool that will help you break through. this is a line of chainsaw brand clothing line. it is not just regular clothing. i have a signature line with all the tags assigned. something that is really a collectible or something that people can just use. in the gym, keeping it trim to stay in safe. wanting to marry what i am passionate about with what is in my wheelhouse already. a brand of activewear. it is very quickly turning into apparel and accessories. we are online right now.

as brand awareness increases, we will take it to department stores and things like that. >> a lot of on-the-job learning for you. how are you making this work out like this? you have to be somewhat fearless at this. >> if it is to be, it is up to me. no one has given me anything. if i am going to provide for my family, it is up to me to make that happen. i have been able to really execute on my entrepreneur world dreams. >> why go into business. >> i look at my celebrity capital. i could spend that capital on something that is shallow like

trying to get front row seats or i could use it to help others that are less fortunate. the signature line, there is a tremendous amount of the proceeds that will go to a charity. for me, that is really what propels me. to do something that is greater. >> our producer, she actually went to halloween in a sharknado costume. she put effort into that. >> she sure did. happy birthday, nancy. congratulations. what you are doing is really smart and it is brilliant. you control your own destiny, why not do everything that you can. do you have a double x? >> i do. it is for you.

charles: we will play all of them for you next. ♪

charles: and is a fake name and you certainly know it. green mountain is a big winner

today. we saw a lot of fireworks on capitol hill yesterday as lawmakers grilled jonathan gruber. here are some of the very best moments. >> i was very frustrated. it was stupid. absolutely stupid comments that he made over the past few years. >> thoughtless and sometimes downright insulting comments. >> incredibly disrespectful. did not exist in reality. >> my own unspeakable arrogance is not a flaw in the affordable care act. >> are you stupid? >> i do not think so. no. >> does mit employee stupid people? >> not to my knowledge.

>> you would not deny today that in these statements you made -- this one of those parts pass, mr. gruber? >> there are some passing, yes. you were starting to say that the bill is convoluted. you agree that it is a complicated statue. >> that was really critical to get it to pass. basic exploitation of the last economic understanding of bilbo. >> when did you notice that these were unacceptable. >> i honestly did not remember waking them. >> you are the only person that cares about the uninsured. you do not remember saying that?

>> i do not. they were really thoughtless comments that i made. >> they have direct consequences for real american people. the mac i apologize. >> it took you a little while to apologize. what i am struggling with is whether your apology is because you said it or because you meant it. >> for the first time, someone came clean and told the truth. >> i will have to live with that. >> apr gifts. you did a great job. you wrapped it up with a bow. charles: what a perfect way to tease our own doctor ablow. he will be fired up on that.

first, income inequality starting to become a battle cry for democrats in 2016. herman cain is next. >> i am definitely say do not do it. did you get back to that job, if you have a job to come back to after this proposed walkout, you might have a robot thing, do you want fries with that? ♪

charles: checking that the board. the dow is starting to break down. it is really starting to give way. there are some winners, though. nike accusing a tray designer. $10 million in damages. i am not sure that is why the stock is up, but it is. you guys remember, $107. gas down more than a penny overnight. forty-seven states in the district of columbia have a gas prices of under $3. you love it. the cheapest gas is $1.98 in oklahoma city.

two big insider-trading convictions were overcharged today. three judges deciding to review the lot during their crap down on wall street. this will have major implications for other cases. >> it is huge. this makes insider-trading case is infinitely more difficult. charles: charlie gasparino with a lot more on this. >> if there was one case that could change the whole outlook not normally trading on nonpublic information. you have to know that the material was kind of stolen. you should not have it. you also have to confer some benefit. criminals do not work for free.

in the past, the u.s. attorney attorney office and the courts have said, really low barriers to prove that you knew it was insider-trading. sometimes they say, well, you should have known. if you are just friends with somebody, that may be a benefit. you have to know if it is really insider trading, where it came from and you have to prove that a real benefit was confirmed. it was payment, not just friendship. i would bet my pinky that he walks. many other convictions will be overturned. i was always dubious about this whole insider trading crap down. they went too far. they took people to jail who should not have gone. charles: two parties.

this person did not get any financial gain. >> no. the person who gave the information. yeah, sometimes they do go to jail. this person has to know that this person is actually stealing the information. that is a basic bedrock of criminal law. >> after the financial collapse, the senate focusing on accounting fraud. they went after it. eighty-two insider-trading cases that he has brought in the past five years. >> he has lost a couple of cases. i will say this, though. you cannot lay it all on him. they have always wanted to wipe out insider-trading. they have got in their rear ends kicked. charles: thank you, charlie.

a federal law. how much the top boss makes? herman cain is with us. how would you have felt if everybody at the company, all your employees knew how much money you were making. >> well, first of all, that information is already available. some people are just too lazy to go and dig it out and do the simple calculation on their own. good grief. they are simply trying to stoke the flames of class warfare. you know how useful knowing that comparison between the boss and the media, that is like half of an egg. i give you another analogy talking about a bull. what are they going to do with that metric?

absolutely nothing except for stoke the flames of class warfare. charles: that is really where we are going with this. we know that these are not regular workers. they are being orchestrated. none of that had anything to do with eric varner. this is part and parcel of a very sophisticated program. dismantling what we are and what we have to calm. >> the american dream is still alive. 150 colleges and universities over the past year i have said this. the students are glad to hear somebody from minding them of that. the liberal media wants the reception to be the reality. any time they can stoke the

flames of class warfare and raise welfare, that is what they are trying to do in order to promote a reception that simply is not realistic. liz: so good to be with you again. what creates income inequality in this country. >> first of all, there is no income inequality. it is a false narrative and here is why. they have studied and, over decades. a lot of people, they move up. in fact, 5% of the people have moved from the lowest to the top. this income inequality is a false narrative that they are using because they know that my listeners may not understand the actual math.

charles: the same 1% now. they are just sporting more money. let's talk about somebody on your website. john lester. the guy figured out, this is ridiculous. tell us about this. lester had a choice between going to a california team or the cubs. when he did the math, it turns out a $10 million difference, charles. i asked you and elizabeth this question. if you had a $10 million difference, how long would it take you to find out which one was financially lucrative. they are driving people out of the state because of the high

taxes. low taxes are just like water. they will find that lowest point. he is exercising his choice to choose where taxes are better. illinois and california are no comparison here and. charles: they all lost a million people in the last decade. thanks a lot. we appreciate you taking the time. >> charles, your program, making money, i have a line for you. make money. no pain no gain. [laughter] charles: thank you. doctor ablow is next. he is in studio. he put jonathan gruber on the couch. ♪ (vo) rush hour around here

starts at 6:30 a.m. - on the nose. but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours.

♪ nicole: i have your fox business brief. the dow jones industrial average down 155 points. a loss of more than three quarters of 1%.

the s&p 500 down 16. the tech heavy nasdaq down 33 points. all under pressure today. take a look at some of the lagers. dan berry resources is down about seven right now. airlines once again doing well. united continental up about 5%. buyer clays with positive comments today. revenue growth hoping that one. land and pulling back.

charles: back to your money. oil and gas prices are tumbling big-time. how do our viewers make money on this. first and foremost, they have to be careful about some of the less well cash and allies producers. i think that they will get hit really hard. it is the widows and orphans dividend player. pretty solid. it is terrific. i think it is one of the safest places to be in. charles: it feels like there is

bad news every week out on them. >> the banks have done very well. i think that they pay their fines and go back to business as usual. i like wells fargo. they do not have the trading death in the spreading out of different markers. i think that their deposit base is huge. charles: this has been the best performer of all the banks and now it has the best market cap. our people chasing it? >> i think it is a great bank. >> thanks a lot. obamacare architect, jonathan gruber, the guy that called you stupid, he took a very positive tone yesterday.

the map i apologize for conjecturing with the tone of expertise. it is never appropriate to make oneself seem more appropriate for smarter by demeaning others. i am embarrassed and i am sorry. charles: gruber threw himself under the bus. i think he is probably going to retire his tongue for a while. that was a good one. dr. keith ablow is here. first day of her most, do you get a feeling that gruber was being sent here? >> not at all. he is not credible at all in presenting his thoughts

thereafter. he is saying i am a narcissist. i really should have been more humble. how do we get to that issue. we did not accuse him of arrogance. we accused him of being a liar. he is saying things like i do not even remember saying those things. that is a clear and utter lie. charles: he became more arrogant yesterday. to your point, nothing was sincere. he has protected his ego a little bit when he talked about the model. this is what we have. here is a transparency.

let us see the models. >> psychologically, he is very thin. if you tell people something and you attempt to sound credible, they will believe it. he did it with obamacare. he was able to get the legislation adopted. he thinks that he can keep doing it. this was really very much debated. telling the cbo howling to set up the policies. what is so devious about this is he is talking about wiping out employer-provided benefits.

he bragged about lying to the american public. >> were the man my patient, he is not or he would be doing better, when he ran into trouble i would say let's look at your life history. when were you asked to believe all these lives in your life? you become a compulsive liar. let's look at your life and find out. we have a hint about how to remake the man. his pathology is infecting the rest of us. >> we are calling it a second

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charles: first it was a gas price battle, now cell phone bill battle. t-mobile offering limited to talk and text on two lines for

$100. is this second stimulus? >> and on data. unlimited. when there is competition, that is great for retailers. now giving two lines, $100 giving on them to plan. we do know cell phone bills since 2007 are up 50%. it is expensive. now they will be rolling back a little bit. but take a look at gas prices be at last year the real average price $3.40. this year it is about $3.39. that is a savings of $120 per year for the average household. that is not a lot. this is where you will see the

real stimulus next year. gas is going down to $2.60 for the average in 2015. guess what that savings is for the average family. $948. add that to every other place you are saving money. pocket the money. if you feel confident in the recovery, you will go out and spend the money. charles: may be particularly going into next year they will start to spend some of this money. >> first time home buyers, come on. charles: some people don't like that. more "varney" after this.

charles: let's check out the big board. down 150 and still down 150.

this is how i hand off the show to deirdre bolton. deirdre: thank you very much regular changing the way would be users function. it is an issue front and center on capitol hill today. amazon, google, others paying close attention. a first on fox business, the best places to work in the industry for the year 2015. we will bring you the short list and hbo getting help from mlb advanced media. more on what it means from the time warner standout. san francisco and los angeles are suing uber. saying they are not doing enough to protect passengers. jo ling kent with me. now legal problems. >> the list goes on and on.