ways. friday those jobing figures are what is expected. 240,000 non-farm jobs. 5.7% unemployment. that would be down a tick. if those figures are off could affect the markets in a big way. "the willis report" is next. gerri: hello everyone, i'm gerri willis and this is the "willis report." the show where consumers are our business. hacking may be the new norm but what if your financial advisor stole your? new details of a morgan stanley broker, who did just. that ripping off details of 350,000 clients posting it online an inside job. meet the new congress. republicans take control of both chambers on capitol hill for the first time in almost a decade. >> as speaker all i ask and frankly expect, that we disagree without being disagreeable. >> we look what the new congress wants to do first and what happens to the obama agenda. petco and petsmart, stop

selling pet treat made in china. the treats could make your pet sick and or even kill it. makes you wonder about all the chinese food about super market shelves for us. we'll ask tough questions. we're live at the consumer electronics expo in las vegas with a preview of all latest high-tech gadgets. panasonic is showing off the tv of the future. what makes it so special? we're going to find out. how much does your boss know about you? we're digging into background checks becoming more and more intrusive. it is all ahead on "the willis report" where consumers are our business. gerri: we begin tonight with an inside job to steal your customer data. a financial advisor from morgan stanley is accused of stealing hundreds of thousands of clients information and trying to sell it online to the highest bidder. with more, ed boo does ski managing partner at chatwood

investments -- butowsky. and justin bayer from "wall street journal" reporting on this story. talk about the some of the details you're unearthing. how did this happen? how did morgan stanley find out about it? >> first two real steps. first one is, nobody disputes this records of 350,000 clients ended up in the hand and in personal computers of that owned by a financial advisor there. gerri: this is a broker employed by morgan stanley and he is not supposed to do that? >> he is not supposed to do that. now there is a second half to this story a subset of that data found its way on to this file-sharing website on december 27th, that was, essentially a perfect match. it was a piece of this broader -- gerri: just to be clear here that website is called payspin. a lot of stolen information tend to show up here and sold to people who buy it illegally really right? >> right. i mean it is a place that, there is not a lot of there is stuff

in this case, morgan stanley was able to contact them and get them to take down this post but you can, you can essentially put up what you want and you can advertise in some cases obviously illicit stuff and -- gerri: right. it is shocking. ed i have to bring you in on this you were 18 years at morgan stanley. you know this company. >> i do. gerri: this is one in 10 of morgan stanley's brokerage clients. what is your take? >> justin, congratulations. this is very important subject. this one action by this bonehead, he was a fa not high level senior executive in the firm. he is somebody who gained access to very important information that is not readily available to him. here is the thing that this does this one action destroys the trust, bond, not just morgan stanley has with their client. you look at the client in the eye, trust me, i will take care of you, your information is secure your money is secure. not only at morgan stanley but

every financial advisor is having to answer to their client about the safety of their information. gerri: good point. good point. a real black eye for morgan stanley. it is violation of trust with clients. i have to think despite their comments to justin i think were pretty namby-pamby they have to be sweating to this one. justin, to you, as you look at this what are the next steps. they brought the fbi in this right? >> pretty much immediately. the next steps get to the bottom, how this stuff got online on this website. you know the fa's lawyer, former fa's lawyer believes that his client is innocent of that. gerri: the lawyer basically says, yes, he took the data but no, he didn't have an nefarious purposes in mind. >> correct correct. they dispute it was his client who put the information on this file-sharing website and made an offer to sell it to highest bidder. gerri: ed, i want to ask you about that very thing because is it credible, does it strain

credulity to say yes he stole it but what was he going to do? turn it into toilet paper or something? i mean you know -- >> yeah. gerri: what could he possibly do except use it in a way that would harm clients? >> i'll tell what you i think. first of all an sa doesn't have access this information. a typical sa has 300 400 clients on their own. they don't have access at their work station. he would have gone somewhere else in the building, gained access to the computer. what i think this person was doing, trying to leave morgan stanley trying to get as many client information to go someplace else to call the clients. that is what i thought he was doing. gerri: what is the point putting out publicly on a website if you're trying to start your own company? that doesn't make sense. >> looks like 900 were posted there, tell me if i've wrong justin there, are 350,000 records, so nine hundred is very small number. i don't know. what a fool this guy is and i

can't stand when people do anything, even remotely like this. and i'm happy the fbi is involved and i hope they prosecute him. i hope he gets what is coming to him. gerri: justin, before you go, he has been fired. let's be clear. morgan stanley doesn't have a lot of patient with this. >> last friday he was terminated. >> guys, great job. ed justin, thank you so much. before i move on from this story i just want to say there is a certain business network in englewood cliff, new jersey, given short-shrift to this story. we covered it here at fox business all day long. why you might be asking yourself? because we're on your side. we're on your side in every trade. we want to make sure that your interests are represented in this market. now we want to know what you think. here is our question tonight, do you trust your financial advisor? log on to gerriwillis.com. vote on the right-hand side of the screen. i will share the results at the end of tonight's show. from the safety of your data

to the safety of your pet petco announcing today it is finally removing all chinese-made dog and cat streets from its shelves amid concerns the treats sickened pets since 2007, seven years. hear here to way in greg wall drop consumer federation of america. welcome back to the show. good to see you. what do you make of this move? >> it is a good move. it should have happened a long time ago. like you said the fda has known that these pet treats have been sickening thousands of animals and killed 1000 dogs since 2007. so this is something that i think these retailers should have acted on much sooner than they did but good at least they're doing it now. gerri: at least one of these food retailers will wait until march to get all of the stuff off the shelves. what do you make of that? why wouldn't they do it sooner? >> this is interesting. they announced back in may of last year they were going to take these steps. it has taken this long to get all the products off the shell. i don't know what the delay is.

these things should have been off the shelf years ago. gerri: seems to me that they're liable to pet owners in some cases and there should be some fear of suit or something else. but let's talk a little bit about chinese products and chinese food products because we have reported a lot on chinese food products for humans and how some substandard they are. this is now extended to pet food as well. what do individual consumers who may own pets, what should they be doing? >> it is difficult. consumers certainly should not be buying pet treats or pet food from china. unfortunately pet companies don't have to label all the ingredients in terms of where they're coming from. so companies still could be producing pet food that is made in america but does get some ingredients from china. one thing consumers should certainly do if their pets are exhibiting signs of illness or are many about sick, they should take them to the vet right away. if they have any food they fed them save that to be examined

and tested. if your pets are getting sick take them to the vet immediately. gerri: petco is saying now all treats are made in the u.s. or other places like netherlands new zealand, south america but how do we know people in other countries have standard we want? >> exactly. that is, i think a responsibility of these retailers to make sure that the suppliers they're purchasing from the food they're buying and selling to consumers and to the pets is safe and that those retailers have a good handle on their supply chain. they need to be doing audits. they need to go to the countries and make sure it is working. it works as expected and they're getting a safe product. gerri: chris before you go, is there any product you can recommend as safe? is there anything you can say you can be absolutely assured x y z product will not harm your pet? >> there is not good certi nation that i'm aware of but certainly i would avoid any products from china. gerri: well-said chris. thanks for coming on the show. >> thank you so much.

gerri: still a lot more to come this hour, including live coverage of the annual consumer electronics show from las vegas. next, oil continuing its dramatic slide while falling prices are clearly good consumers can stock investors handle the plunge? tweet knee @gerriwillisfbn or send an e-mail through our website gerriwillis.com. we'll be right back. 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. i've smoked a lot and quit a lot but ended up nowhere. now...i use this. the nicoderm cq patch with unique extended release technology helps prevent the urge to smoke all day. i want this time to be my last time. that's why i choose nicoderm cq.

[ high-pitched ] nailed it! [ normal voice ] you're right, that was really easy. i know, i told you so. on progressive.com you can compare our progressive direct rates with our competitors' rates, so shopping is easy. you don't sound like flo. [high-pitched] yeah, i do. [ clears throat ] who you talking to? [ normal voice ] what? what's on your hand? noth-- my wedding ring. [chuckles] symbol of our love and understanding. comparing rates for you. now that's progressive. [ high-pitched ] nailed it!

gerri: you know more losses for stocks. the dow closed down 130 points after the market dropped are almost 300 points yesterday. oil prices dipped below briefly below $48 a barrel for the first time since 2009. great news for the market and

consumers but what about the stocks? steve moore is here. >> hi gerri. gerri: what do you make of this $48? will we go lower? what does the future hold for oil prices? >> who knows but i do know this a lot of panic investors i think are making the wrong call here, gerri. the lower the oil and gas price the better it is for the stock market very simple. energy is an input into everything that is produced. so yes when oil and gas prices fall it is bad for the energy sector but every other sector of the economy benefits. so for every loser from loyer oil and gas prices there are 100 winners. i don't get that then in this kind of environment when the market is falling. that is a good question. gerri: 330 points yesterday. another 130 points today my goodness. in terms of percentages it is not that big of a deal but the feeling for investors in their gut is not pleasant. >> it isn't. gerri: i don't understand why these investors are so upset about something that can really

give this economy a jolt? >> look at the sectors that are so highly benefited. i mean the restaurant industry is benefited. the transportation industry is benefited. the airline industry is benefited. manufacturers are benefited. as i said before, energy is a key input into everything that is produced. i say lower the price of oil and gas the better. you mentioned that this is good for consumers and clearly it is there is no doubt about. that we're talking about $100 billion extra money being put into the pockets of american consumers. but my point is, it is not just consumers more importantly. production costs across the board fall here. gerri: right. plastic, everything you can think of. >> yeah. when production costs fall, profits rise. and so that is kind of a mystery to me. that is where it is headedded. oil will stablize 50 to $57 a

barrel when all this is shake out -- $75. panic about the oil industry, fracking has gotten so much more refined, they can still make, most frackers can still make money as long as the price doesn't fall below say $40 a barrel. gerri: interesting question for the marketplace. to remind folks national average for gallon of gas $2.19. $3.31 this time last year. just a little check there. >> gerri i was in phoenix arizona, this weekend i paid $1.89 a gallon. you don't see a too many people frowning when when they see these low prices. >> you're not selling your stocks right now. i want to talk about keystone. the president already signaling through the white house pr folks that he is not going to approve keystone. to give you a reminder what the pipeline looks like, full screen of track of pipeline.

tell us why keystone remains important even though fast prices -- gas prices are now 2.19 a gallon. >> infrastructure to bring energy we're producing from all over the country to the market is absolutely vital. not only as jobs program and this would create about 10 or 15,000 jobs, these are for democrats listening to the show, those are mostly unionized workers who would get jobs, 60 to 80, $100,000 a year for the construction of that pipeline. gerri: nice. >> more importantly we need to start exporting our oil and gas. within five years or so, we could be an exporter. that saul more important reason why you get these pipelines. not just keystone. we need, there is about 10 to 15 pipelines that are being held up right now but obama administration and i think that is a real shame. and it is not in the reason they're doing this is because the green movement and i was just looking at a study, gerri really interesting and liberals should look at this. when you look at number of

accidents that happen, whether when it is a tanker, a truck or rail compared to pipelines pipelines are by far the most environmentally enhanced. gerri: that is irony here. you're killing the safest mode of delivery. >> that is exactly right. gerri: it is unbelievable. i want to talk to you about one other thing as long as you're here. congress restarting, right? now it is in republican hands hard for me to tell, other than the keystone pipeline what the real priority are. what should they be? what should grow this economy. >> clear letter corporate tax reform. how many times did we talk about companies threatening on leaving united states because of our high corporate tax rate. we better get the thing fixed or we'll have stories every week about these kind of things happening. i think republicans are doing right things in terms of picking apart the worst features of obamacare. there was a story today president obama is now talking about maybe vetoing a bill that would get rid of that 40-hour week rule takes place this

month. those things create jobs immediately. if i'm a republican send them to president obama and see what he does with these things. let's see how many democrats vote. i think on both those things i just mentioned gerri you will get a lot of democrats in the house and senate voting with republicans. gerri: the truth is a lot of supporters of obamacare especially in the senate no longer have jobs. >> well that is true too. that turned over. that's changed. a lot more to come. steve, thank you for coming on show, always great to have you here. >> happy new year. gerri: happy new year to you too. later on the show a showdown as the white house issues first veto threat of the new congress. president obama taking regulation nation to a whole new level with the cost of new regs topping $181 billion. the only man to talk about grover norquist, is with us after the break. ♪ these ally bank ira cds really do sound like a sure thing but i'm a bit skeptical of sure things.

why's that? look what daddy's got... ahhhhhhhhhh!!!!! growth you can count on from the bank where no branches equals great rates. i'm louis, and i quit smoking with chantix. quitting smoking is a challenge d it's a lot easier to go into fight when you've got somebody that's got your back. having chantix as a partner made it more successful. along with support, chantix (varenicline) is proven to help people quit smoking. chantix helped reduce my urge to smoke. some people had changes in behavior, thinking or mood hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix.

some people had seizures while taking chantix. if you have any of these stop chantix and call your doctor right away. tell your doctor about any history of mental health problems, which could get worse while taking chantix or history of seizures. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these stop chantix and see your doctor right away as some can be life-threatening. tell your doctor if you have a history of heart or blood vessel problems or develop new or worse symptoms. get medical help right away if you have symptoms of a heart attack or stroke. decrease alcohol use while taking chantix. use caution when driving or operating machinery. common side effects include nausea trouble sleeping and unusual dreams. chantix absolutely helped me quit smoking. ask your doctor if chantix is right for you. so ally bank really has no hidden fees on savings accounts? that's right. it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees from the bank where no branches equals great rates.

ah, got it. these wifi hotspots we get with our xfinity internet service are all over the place. hey you can stop looking. i found one. see? what do you think a wifi hotspot smells like? i'm thinking roast beef. want to get lunch? get the fastest wifi hotspots and more coverage on the go

than any other provider. xfinity, the future of awesome. gerri: $181 billion. that is the cost of all the red tape imposed by the obama administration in 2014 alone. we're talking over 79,000 pages of new rules new regulations. which agencies are the worst offenders? americans for tax reform president grover norquist is here with details. grover, put this number in context. we're not talking about costs to the government. we're talking about costs to average, everyday business, individuals. what these new rules will cost us? >> just the new hits will cost every adult over 18 -- $700. we're talking about millions of pages of regulations that have been put out and it's time, it's money.

300 coal plants have either been shut down already or have announced they're going to shut down because of the accumulation of these regulations. 300 plants -- gerri: let me stop you right there because this is something that really gets under my skin. so this clean power act that the administration has been so hot on this will raise electricity prices across the country this year by 6%. >> yeah. gerri: where is the sense in that? >> well, i mean this is what people need to keep in mind. remember obama promised he would never raise taxes on anyone who made less than $250,000 a year. he has imposed regulatory costs in the last couple of years about as much per year as he has raised taxes. and those regulatory costs the people in 300 power plants generating power plants, coal power plants, the people who lost their jobs had 100% tax on their income. those people are not making more

than $250,000 a year. gerri: no. >> the americans who will pay 6% more for energy here in d.c. it is cold and snowy today and we're reminded that in the winter here and in places north of washington, d.c. those kind of costs are very expensive. not in hawaii perhaps but in the northern part of the country. gerri: right. >> yes. so those costs every year in the future when you heat your home. gerri: epa rules department of energy rules, tell us about those. we're looking at something like $3.6 billion. >> yeah. there are 39 different rules that will cost at least a billion dollars each, more than a billion dollars. they're rolling out each of these rules. what i thought was interesting was the worst year for consumers in america was 2012 when the president put out even more regs

than this year, four fourth. but 2014 is a spike after the elections is over, when he was safely elected obama had his people, you want to know how politicized it was, this stuff didn't come out every day even-steven, lots of regulations, two on wednesday but two on friday. they were withheld for political reasons until after the president was reelected in 2012, until after 2014, when senators, when all the democratic senators lost the election, oh, forget that put out the regs after the election. he didn't put them out before. gerri: friday before christmas they released a ton of new regulations hoping nobody would notice. it would be all quiet, they wouldn't get any coverage. it is a tragedy. >> yeah. gerri: just to give people a sense here, i want to show the hardest hit states here and you can guess them. >> oh, yeah. gerri: california hit hard. surprisingly texas is on this list and ohio. what do you make of that? >> energy, energy and energy and

coal. coal in ohio and manufacturing. so it is very bad for manufacturing, very bad for energy production. we're doing better on energy production because fracking is largely out from under obama's ability to kill it but he has been doing a lot of damage other places unfortunately of the most transparent administration in history, we were promised, puts out these rules. if they were proud of them, if they believed they would help you and your neighbors and your family they would have been dancing around in front of the cameras before the election saying aren't we wonderful. gerri: didn't happen. >> look what we're doing. they're hiding this stuff. gerri: absolutely. before you go i just want to remind our viewers cost to you per voter, 692 bucks. 720 million each day the government is open. your government at work, charging you more money making sure you pay up. grover, thanks for coming on.

happy new year. >> happy new year. gerri: coming up, harvard university changing its tune onare. and next we head to las vegas and the consumer electronics show as our liz claman brings us the latest and greatest gadgets. stay with us. ♪

you get sick 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. she inspires you. no question about that. but your erectile dysfunction - that could be a question of blood flow.

cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. 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. 3rd and 3. 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. gerri: welcome back to the willis report. in a moment, we'll head back to the consumer electronics show show in las vegas where our very own liz claman will show us the hottest gadgets. it's time for a look at other stories in case you missed it. former florida governor jeb bush forming a political action committee. he's laying the groundwork for a presidential campaign. several other presidential candidates to form similar pacs.

three suspect are being questioned for the shooting of officers. both officers are listed in stable condition. retailer urban outfitterrers is under fire for promoting the inner thigh gap. the store says using skinny models is common practice. much of the country getting its first snow including at the national zoo in washington dc, where some of these animals here including the up andappends saw their first snow ever. the great cats seals, and wolves also enjoyed the wintery weather. got to love that. great pictures there. those are some of the stories in the news tonight in case you missed it. (?) geeks and gadgets. it's like heaven for techies. the consumer electronics show going out right now in vegas. showcases what could be

the next big thing. we showed you the latest wearable technology. let's check in with liz claman. liz. liz: gerri, i'm checking with my polar wristband how many steps i've taken in the first day alone. 10,400 steps because this is 2 million square feet of space in a total of vegas 15 miles of show space. we want to show you some of the gadgets that we've actually picked up and seen and said this is cool. we think gerri would like this one. this is called the stella clutch. it looks like a clutch purse. has space for your lip gloss and mirror. why is this at the consumer electronics show? turn it around. it's a wireless speaker. see that. play whatever you want. it is bluetooth and $149. then this is called the ishower. do i need to explain what this is? it'sit's a device, goes in

your shower. it's bluetooth. hooks up to your phone. talk to people on the phone while you you're in the shower. it's $100. and finally, take a look at this, this is called the proton pronto. it turns your iphone into a universal remote control. four double a batteries. more than just entertainment. 3,000 entertainment devices have been programmed into here. so no matter how old your remote, it's probably able to link up to this thing. for you, gerri the iphone six cover. not to mention the ipad mini in the pebble gorgeous covers. the fashion area of wearables is a big deal. you would love it here especially with a consumer focus on your show. gerri: oh, love love love. liz, great stuff. thank you for bringing us that stuff. i am blown away. but tell me you've been talking to rappers and

hip-hop stars. even had the ceo of ford on. tell me what it's like to talking to all these people. liz: it's so interesting. anybody in business has to be here. ford is a car company. not anymore. they were the first to come here as a car company. that was 2007. now everybody is here. hund a,honda, they're all here. they want to be seen as the consumer electronic. but the rappers. we have rza of wu-tang clan. he's embedding his music into speakers. curtis 50-cent was here. the dr. dre thing, we get it. he's turning his into a fitness tracker. we just did gorilla glass. everything, all these things has to have glass that holds up. gorilla glass by corning, a company around for decades and

decade. they're coming up with new things every year. drop things from a meter. fascinating. tomorrow, i think it really is the tomorrow world. the drones. the 3d printers. we're going to do the most amazing thing. we're going to show how polar is showing their products by hiring an olympiaian athlete. he will do a full ironman here in las vegas. 6:00 a.m. jumping into the pool. go the mileage there he'll do a stationary bike. we'll catch up with him live on fox business on the treadmill doing a marathon. gerri: that is just fantastic. you know, i'm thinking with 10,000 steps today maybe they'll give you a golf cart tomorrow and you can just take it easy and ride around. liz: actually. actually tomorrow i need to win the journalists here are competing to see who does the most steps. whoever wins gets to donate money to charity.

they have one of four charities. if you really win, you get to pick your own charity. i'll be picking building homes. >> thank you so much. we're cheering for you. and tomorrow, liz will have aol's chief tim armstrong. you'll want to see that blackberry ceo. and kevin plank. lots to come. a news alert for you now. a copyright message claiming to protect facebook's users has gone viral again. and once again it's a hoax. it has users claiming a copyright on their content such as photos. the same message circulated back in 2012. this is a hoax. do not take this seriously. facebook does not own users posts. anyone who uses facebook controls the content and information they post as stated in their terms. they control how that information is shared. that is their policy and

it always has been. just an update. a look at those mysterious employee background checks. next the republican congress has started working with the keystone pipeline being issue number one. will they be overcome by a veto challenge? live report coming up. here's your consumer gauge with the numbers that mean the most to you.

gerri: the other big story of the day a new congress convening with republicans in charge of both the house and the senate. leaders vowing to get to work today. will president obama stand in their way? peter barnes has more from d.c. >> the white house said that the president will veto two bills championed by republicans and some democrats in the new

congress. those veto threats issued as the new congress convened today. one would approve the keystone pipeline. and by nebraska case. the other bill will define a workweek as 40 hours under obamacare. larger firms this year have to provide health insurance coverage for employees that work 30 hours a week or the companies face fines. john boehner who was reelected as speaker of the house says the bills will help the economy and job creation. >> we'll begin our work on this common ground, taking up measures to develop north american energy, restore the hours of middle class workers and help small businesses hire more of our veterans. i'll invite the president to sign these into law. >> i'm confident there will be areas that we will disagree, and there will be some tense battles. i'm also confident that there are enormous areas of potential agreement

that we'll deliver for the american people. >> the house plans to work on a workweek legislation bill and its pipeline bill this week. the senate will vote on a pipeline bill next week. no word on how they'll define a workweek with legislation. gerri: my favorite story of the day, faculty members at harvard university furious they'll have to pay for more for their health insurance because of obamacare. they voted against changes of their plan which would increase their costs. is this harvard hypocrisy for the health care law they supported? here's rich lowery. you had a great column on this. really great well done. >> they're having to pay more money. they're having to pay money because so-called free benefits of

obamacare are, of course as all rational people would understand not free. someone has to pay the cost. they're paying some of the cost. not a lot being that make $200,000 a year. they're being asked to pay 250-dollar deductible, which is not a lot. still, they're wining whining and complaining. this is the most hilarious story of the year already. gerri: patients pay 10% of the cost for most services. fifteen-dollar out of -- 45 out of pocket for a family. 750 for a family. i'm sorry. but if you compare this to what people are paying under obamacare, it's completely commence rit. welcome to the real world. >> people who aren't in the blessed financial circumstances of harvard professors, who are told they are getting health care through obamacare

and then when it actually comes to the rubber hitting the road it's too expensive for them to afford. so it's true that insurance shouldn't pay for all health care costs. that's not insurance. just free health care. the way this plan is structured obama's structure makes no sense. people should have an element of choice so they're choosing what kind of plan makes sense for themselves. gerri: that's not the way obamacare works. it requires that all policies have the same coverage. for that reason, the coverage is really expensive. so i have to quote one of these professors because it's just too delicious. richard thomas who is a classics professor at harvard says that it's deplorable. a sign of the corporatization. they have cadillac plans. fancy expensive plans at the end of the day. and they're having to pick up part of the tab.

>> right. gerri: deplorable? regress iregressive. >> they're in the 1% many of them. this is a bunch of liberal elitists getting hoisted on their own petard, and it's hilarious. gerri: it is. we've waited for this a long time. there was a huge amount of support for this out of harvard. they helped write the law, they supported the law. i guess it's okay for you and me to have obamacare coverage but not okay for them. >> they never imagined that they would feel any negative consequences. maybe they're so idiotic, they actually believed the president when he said it would reduce family premiums. anything seems like a betrayal. gerri: he said it would be less than a cell phone bill. that's what the president said. wish that were true.

my favorite comment on twitter. karma is a preexisting condition. >> exactly. couldn't happen to a nicer group of people. gerri: thank you for bringing us that story. appreciate it. still to come my 2 cents more. how do you do that. we have advice on what employers look for when they conduct background checks and how can make yourself look your best. stay with us. ♪

♪ music ♪ ...the getaway vehicle!

for all the confidence you need. td ameritrade. you got this.

gerri: before being hired or even promoted for a job many employers depend on information revealed in a background check. 80% of employers have done some sort of check

on applicants. what you need to know, this man is our employment expert and our star. how to find a job and the online site, the job solution.com. tell us, what are these employers looking for? >> well, they're looking for all kinds of things that could give them an indication of how you might perform in their job. they look for credit. they look for liens against you. (?) tax liens. dwis. bankruptcies. credit problems. education problems. anything along that line that might give them information about how you're going to perform not only personally, but as a professional. gerri: so can any employer look at your credit? >> yeah. it's public information and most of the time, they hire an organization to dig into your credit. bankruptcies dwis,

background checks themselves are public information. employers use them because when they are public information and they can get to them. many individuals can't keep those from the employer. gerri: you have no control over it as a candidate. you have to make sure you have the best foot forward in all those reports obviously. but this could keep you from getting a job or a promotion. right? >> oh, yeah. at least once a month -- twice a month in our recruitment firm we have a background check or a credit check stand in the way of someone getting hired. gerri: all right. how do i put my best foot forward? these days they're not just looking at the official records. they're also looking on facebook and checking out what kind of photographs you're putting online. >> yeah. oh yeah. we -- we estimate that 40% of the time that an employer checks somebody's facebook or even linkedin for that

matter, they don't hire the candidate based on what they found. here's some of the things you can do, do your own background check on yourself. do a credit check on yourself. you absolutely have to know what that employer is going to find out. every once in a while you'll run into a situation where there's an identity theft or you get confused with somebody else another gerri willis out there that maybe is not as stellar as you might be. and then most importantly knowing what's on there so when you go into the interviewing situation should you get that far with the employer, you need to explain to the employer, look, when you do a background check you'll find a bankruptcy or you'll find a felony or you'll find a few dwis. you need to know. here's what i've done to rectify. gerri: a friend of mine john evans. really common name. how many people have that name.

lots of bad guys have that name. you have to make sure you're not being confused with someone else. that's absolutely true. a lot of young candidates out there their entire lives are online. what would you say to young people out there? >> you know what mama said about being on the front pages of the paper. don't put it anywhere if you don't want it on the front page. we don't have many papers but mama was right. don't say anybody about anybody, about yourself about anything that you wouldn't want mama to be proud of because somebody will find it and you won't get hired because of it. gerri: great advice. and tony's website is called the job jobsearchsolution.com. the rules for 521 savings plan. we got news they're changing. you can make changes to

your holdings twice a year. that's thanks to a new law signed by president obama. so this allows for parents and grandparents to adjust to market volatility. you may not want to do it. joseph hurley says 529 plans aren't designed for those -- they are for those who like to ship their investments quickly. the wall street george wall street journal as the beneficiary gets closer to college age. it's better to keep looking at the bigger picture than reacting to the ups and downs of wall street. these changes are more for psychological peace of mind. not necessarily for practical reasons we'll be right back with my "2 cents more." do you trusting your financial advisor? stay with us.

gerri: a morgan stanley employee stole information on three 150,000 clients and posted that info online. are you worried? this is a widespread problem. do you trust your financial advisor? most of you say, no, i don't. 51%. unbelievable. and finally, i couldn't get enough of the harvard professor story today crying a river because they have to pay a few hundred dollars more for health care coverage. this is the legacy of obamacare. higher costs for everybody even coddled ivy league professors. bill gross' forecast for the markets for 2015. he's not upbeat. even though the average estimate of gains among wall street strategists is 8.2%. the bond manager says not a chance of achieving that. asset prices, he believes are headed south. i'd like to see stocks climb to the moon frankly wall street

pundits they're rarely right this time of year. look out below. that's my "2 cents more." that's it for tonight's willis report. don't forget to dvr the show if you can't catch us live. "making money" with charles payne is next. charles: i'm charles payne. you're watching "making money." hold on to your hat. close your eyes. this rollercoaster stock market ride continues. dow down 230 points at one time today. oil continues to crash closing at 47.55 a barrel. taking your stocks along for the ride. buckle up. it's all about the long-term. i continue to say don't panic. you can change your life and you do want to be rich. let's go to nicole petallides on the floor of the new york stock exchange. what a ride today. >> absolutely, charles. the extras on wall street would agree with you. don't panic. i talk with steve and