uy a bond for 1.5 yield? >> somebody from germany. getting .32 or negative rates. liz: todd horowitz, great to see you. thank you so much. david: "the willis report" is next. hope to see you back here tomorrow. ♪ >> hello, everybody, i'm gerri willis and this is "the willis report," the show where consumers are our business. congress investigates new problems with social security. billions of dollars lost through runaway fraud and abuse. hugh hope for millions of americans at risk of heart attack and stroke. a new class of cholesterol-busting drugs is set for approval. >> now we have the data to say, yes it lowers bad cholesterol and it decreases heart attack. gerri: also a consumers guide to ed lingo. what does all natural cage-free, all the other labels you see at the grocery store really mean? we're live at south by southwest in austin, texas, with the latest in entertainment. >> we're looking at huge

valuations snapchat, uber, pinterest i could go on and on. gerri: on "the willis report" where consumers are our business. ♪ congress today opening a new investigation into social security after a federal audit showed rampant fraud in the system, millions and millions of social security numbers being used by fraudsters who suck billions of dollars out of taxpayer coffins. with us "the weekly standard"'s fred barnes, guy benson senior political reporter for town hall and "national review"'s john fund. john i will start with you. why are these records such a mess? >> because the federal government hasn't really done what the private sector would do if they actually were dealing with real customers who gave them money voluntarily. they basically let the records go fallow. and, as a result, you can't trust them. i mean, six million people who apparently have wrong information attached to them? one social security number that

wasn't used by someone, has been used by 631 people to try to secure benefits. gerri: unbelievable. >> that is extreme outlyer several have been used hundreds of times. gerri: fred, to you, how do we fix this mess. >> the social security administration ought to be able to fix it on their own. what is their attitude faced with this? millions of social security cards for people potentially in the nail of people who have died and can be used for fraudulent reasons? oh, we can't be bothered with this. officials with the social security administration say. we have bert things to do. and, here is what is even worse. the fact is, i've always thought anyway that the one thing the federal government could do would be to get out the checks at the social security administration and medicare and sew on and there wouldn't be any big problem with fraud. these agencies are just as inefficient as the others. >> they're equal, unbelievable to me, the amount of malfeasance going on in some of these.

guy, to you, so apparently, all of this data is originally from paper social security card numbers, right? updating that apparently is very, very difficult. what do you say about this fraud and abuse? doesn't the responsibility of this rest on the government's shoulders? >> well, of course. these are government programs. you used the phrase, fraud and abuse. that is a cliche here in washington, waste, fraud and abuse. sometimes it is true. it absolutely exists. i think there are little examples of this that crop up all the time, which when you add them all up amount to billions of dollars every year being paid out by the government to gradsters or inappropriately to people who don't have the money. gerri: that is our money. >> don't have the money coming to them. that's our money. i think this is opportunity whenever it happens. this cost taxpayers billions of dollars every year, across the numerous agencies, whether it is medicare disability payments, improper tax credits, to make the point, conservatives should make the point, that the

solution on a macrolevel is to look at this out of control, unwieldy bureaucracy that can't handle problems, let's slow down shrink this a little bit. do what we're already doing, a little bit more efficiently. gerri: here is how bad it is. social security administration thinks there are 6.5 million people who are 11212 years of age. i don't think so. i think there are maybe a dozen. or couple of dozen. it is off the charts. move on to the debt ceiling. i want to get to this topic. here we are poised to lift the debt ceiling again. the president desperate to spend more money. john, your reaction. >> here we go again. this is perennial washington psycho drama. ultimately they will vote to raise the debt ceiling. ultimately this will be much sound and fury signifying nothing. gerri: fred to you though, last i checked republicans were still in charge of two houses of

congress. don't they have power to say enough is enough. let's curb it? >> there are problems in the senate. they don't enough to beat a democratic filibuster it. the president has his veto. the other problem spending money, what republicans want to do a mart majority of them want to do increase military spending which is cut so much because of sequester. what you have to do if you're raising one, cut some of the others. democrats will make hay out of that. >> complicated. >> harder than it looks. gerri: guy to you. i have to talk about hillary rodham clinton. we had a couple headlines on her email gate. "new york post" cover reports to barack obama and valerie jarrett as leaker in chief, giving out information on emails. what is your reaction to this. >> white house called it, i believe utter nonsense or utter baloney today. saying suggestion that valerie jarrett or obama people were

secretly behind leaking email revelations about hillary to try to undermine her. i don't know. there are all anonymous sources in the story. i would say of course there is bad blood between clinton world and obama world going back a number of years at this point but she is the heiress apparent. there is no one else on the democratic side who could really run for president and win. i would be a little bit surprised if the obama team decided to try to kneecap the person who would carry on their legacy were she to win. gerri: well, peggy noonan this weekend expresses surprise as hillary's performance last week. >> it was terrible. gerri: want to get to a late-breaking story i think all of you have an interest in. this is from "usa today." they're saying that the white house is removing a federal regulation that subjects its office of administration to the freedom of information act. so, the office of administration at the white house, can't be subject to foia claims. that is what they're saying. they say they're cleaning up

foia regulations. and here is what that office does. this is the critical thing. here is what the office of administration does. record-keeping like what? archiving of emails. john fund to you, what do you say? >> well, technically they may have a point because some courts have ruled on this issue but talk about bad timing? this is an administration that came into office promising the greatest transparency ever, and as a result, we expect more from them. what we're get something almost nothing. we're getting transparency literally being, have a blanket thrown over it. gerri: go ahead. >> this is is outrageous. gerri: fred, your reaction to this. come on, the president said i will share everything. i'm wide open. most transparent administration in history. don't give us a foia request, no. we'll not respond. >> my reaction is they're not cleaning up. they're hiding something. why would they do that now? they realized that reporters and

other groups are really, filing many, many more claims now. they saw what happened with hillary and happening to her and, so we get this. >> guy? >> gerri, here is the key passage from the "usa today" story. this is just priceless. the timing of the move, by the administration raised eyebrows among transparency advocates coming on, get this, national freedom of information day. today is national freedom of information day, in the middle of sunshine week is what they call it. and they dropped this regulation today with all the hillary stuff as the backdrop. i mean set aside the transparency hypocrisy the time something extraordinarily stupid on this day of all days in this context but they have done it anyway because they don't care. gerri: ghei, explain to viewers here because viewers might think this is something urn generalnallists wanted. it doesn't really matter to us -- journalists. it does, right? >> this is who we find out about

scandals and our tax dollars are spent. the government will not tell us there are problems. we have to ask them under the freedom of information act for the records. if you hide records you bury the problems. gerri: bury problems. not tell anybody what is going on. fred to you? >> you know, that is what that is what happens. even if they do release a document or many documents they can black out or redact a lot of stuff. page after page after page if they want so. i mean, hate to say it, there is no freedom of information for this administration. gerri: one more story, guys. john before we go, netanyahu in a close race in his open country. what is your best information on this? >> there has been a complete shake-up in the opposition party this past few hours. they have broken apart as a deal they made to share power if they beat netanyahu. the key to the election, netanyahu may come in second to

his opposition. the key who gets enough seats to form coalition government to govern the country. i don't see netanyahu losing power because i don't think the opposition will enough seats for a coalition. you might get national unity government but i don't see netanyahu being forced out of office. >> yeah. gerri: fast tating. we'll follow that. great to have all three of you here. >> thanks gerri. >> we want to know what you think. here is our question tonight. will social security go bust? log on to gerriwillis.com and vote. i will share the results at the end of tonight's show. still a lot more to come this hour including the answer to a question we've all asked at grocery store, what is the difference between all of these eggs? cage-free organic, all natural what does it mean? we'll explain. new research raising hope new class of cholesterol drugs willower the risk of heart attacks. tweet me @gerriwillisfbn.

send us an email through our website gerriwillis.com. we'll be right back. when the moment's spontaneous,

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gerri: possible game-changer for your heart. researchers are touting a new class of cholesterol-fighting drugs that could slash the risk of a heart attack or stroke by 50%. but questions remain. here to explain a cardiologist, dr. kevin campbell. dr. kevin, welcome back to the show. how do these things work and how is it they can reduce chances of having a heart attack or stroke? >> this is whole new class of drug. it actually works by blocking a protein or enzyme that handles cholesterol in our bodies. and it was discovered by happenstance. a family in paris had really, really high levels of this protein and lots of early heart

disease. they found another family that had undetectable levels of protein and no heart disease. so the drug companies started targeting this to make a way for a drug to lower cholesterol more significantly than statins. gerri: one of the downsize here you can't take it orally it has to be injected. will that create problems for people? >> i think it will be a challenge for some patients but injection is not an iv. it is sub cue tick cue lar? gerri: what does that mean? like an insulin shot? >> just like an insulin shot. so just under the skin. problem with any type of injectible, very, very expensive. may be between 7 to $12,000 per patient per year. incredibly expensive drug. gerri: will we be able to pay for this? at the end of the day will unsurers okay people using this drug? surely we can't afford it on our own? >> you know, i don't think this drug will be for every patient but for patients with terribly high cholesterols that we can't

lower with standard statin therapy i think that this may be a real game-changer like you said. in this study, it showed that we reduced events by almost 50%. the thing you have to remember this study was done for safety and efficacy. we need more study with tins of thousand of patients. >> that brings up the question i was going to ask. not that many people were tested for this and i wonder about the results. we know number of heart attacks and strokes that occur every year, 1.5 million people. so lots of folks could get helped ultimately by this. >> exactly. what we think of, you know, i just returned from the american college of cardiology meeting where this was presented in san diego. this gives us another you know, arrow in our quiver, another way to fight heart disease. i think when these studies are done. i think we'll have data by 2017, could be a huge extra way to treat patients with really bad cholesterol problems. gerri: do you know what side-effects are? >> what we've seen in this

preliminary studyies are minimal side-effects. it showed a little bit of memory loss. that can be a problem. a lot of patients in this demographic are older and may suffer from dementia and memory loss. we want to be careful about exploring that further. gerri: express scripts say it could cost 10,000 per patient. what is particular about this small group of people that are affected but a huge number of americans who could ultimately use this. how will we square that circle? >> i think this is going to be incredibly competitive market. there are three pharmaceuticals companies as you know being the first to market with this right now. you're talking about a multibillion-dollar business with just this one drug. gerri: maybe they will compete on price. dr. campbell, thanks for coming in. >> thanks for having me, gerri. gerri: later in the show, real estate heir robert durst arrested in the connection for the murder of his friend 15

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♪ >> there is no better start to the day than eggs for breakfast. let me have eggs with side of -- >> bacon. >> oh. hi. bacon. >> that's nice surprise, right? who could resize with a side of kevin bacon. actor becoming latest spokesman for industry touting nutritional value of benefits.

americans are biting, consuming $9 billion eggs every year with a big existential crisis for consumers is how to cost from all the different kinds. natural cage-free, you name it. here with the consumer's guide with all the egg labels chicago deputy bureau chief for "the wall street journal" i'm so glad you wrote this story because i have wondered about this for a long time. what is the deal with all these labels? do they have any real meaning? or just stuff people selling the eggs make up? >> well, some of them have meaning but this is a lightly-regulated area so, in many cases egg companies can say what they want about how the hens were raised and it is tough to know as a consumer how true everything is on that label. gerri: so, the one thing i have learned over the years is, all natural when it comes to foods is virtually meaningless right? >> yeah, that is definitely true in the case of eggs.

the usda considers all shell eggs to be naturally produced really usda sets no standards for living conditions of those hens that lay those eggs. gerri: all right. so let's just bang through these. let's start with organic eggs. does organic mean anything at all when it comes to eggs? >> organic does. usda has a certified organic program. the hens that lay these eggs they don't have cages. and, they get organic feed. they do get some outdoor access. gerri: okay. >> not always clear how much time-out doors they get. gerri: how different from that is cage-free. >> so big difference there with cage-free, that one's not really regulated. so, unless the company has gotten certification from a third party, you don't know absolutely for sure about how those egg, the hens were raises. generally cage-free means there were no cages that the hens were

in but they generally don't get any outdoor access. gerri: okay. which is different from free range? this is byzantine. how am i supposed to understand that? how does free range mean? do chickens walk a long way? >> that is a great question. free range is generally what it means the hens are not put in cages and they get some time outdoors so they get to roam freely in the barn get some time outdoors. what is not clear with a lot of labels, how much time and what the conditions of their outdoor recreation. >> am i horrible person i don't really care? is this mostly just about, i mean is this mostly about being nice to chickens? or are there health benefits for people who eat these chickens from hens who get to run around a lot? >> that's a great question. generally they're not seen as having tremendous nutritional differences between these qualities. there is some debate about this.

but really does in the industry coming down to pressure from some animal welfare advocates who really feel that the nation's hens need to be given more space. and there is, a lot of consumers that agree with that. gerri: feel the same way. >> see yeah, they feel the same way. more than 90% of the eggs the hens producing eggs in the united states are in pretty small cages. they have relatively little room to move. and so increasingly the egg industry feels pressure to shift and give more space to hens. there is a law in california that says shell eggs now have to be from hens that have space to be able to spread their wings and turn in a circle. gerri: spread your wings. but that is as much as you get. nestle, starbuck, a lot of companies getting on the bandwagon. answer a few more questions for me. i thought this was a great

story. pasture-raised eggs. what does that mean? >> what it means the hens are generally, they're on a pasture range. so they're eating grass. they can eat worms, bugs. they can roam and they can forage. they get a lot of outdoor time. but consumers should know this, there is no definition from the usda what that means, what pasture-raised means. gerri: not regulated. >> system could vary quite a bit and not completely you're getting each time. gerri: different from vegetarian right? >> right. and then there is the vegetarian -fed hens. so the vegetarian ones get all vegetarian feed which means there are no animal by-products in their feed. that does signal they're not getting team outdoors, because if they were, they could eat bugs and other products that were non-vegetarian.

gerri: so, omega 3 is the one we see so much they put in additional omega 3 fatty acids through feed basically. which of these do you eat david? >> i generally am eating caged-free variety, organic. generally what we have in our home. but, you know, i think i'm eating a lot of conventionally raised eggs as well when i go to restaurants. gerri: thanks for the help tonight, david. appreciate your time. >> thanks for having me. >> coming up tonight on an all-new "strange inheritance," jamie colby travels to small town pennsylvania where a man leave as struggling downtown movie theater and a emotional last request. >> he thought he was going to run the theater forever. wouldn't just say renee, can you run things. he asked me what am i going to do? how am i going to keep this place open? his dying words were, angela, don't let the theater go.

gerri: very emotional. also, tonight, another amazing story about a man who inherit as rare map of texas. he has no idea how valuable it could be. find out what happens on two all-new episodes of strange inheritance tonight at 9:00 p.m. midnight eastern time. coming up we're live from south by southwest with the latest in high-tech consumer gadgets. eccentric real estate heir robert durst shocking everybody, caught on tape saying he killed them all. the latest on the case coming up.

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every truck can tow a boat. every truck can climb a hill. every truck can haul a trailer. but not everyone can say they're the fastest-growing truck brand in america. guts. glory. ram. >> gerri: welcome back. the unbelievable drama surrounding extensive -- eccentric real-estate air. federal investigators say they're closing in on hackers to gain taxes -- access to e-mail addresses to mood jpmorgan chase

customers 83 million households say it was breached in the investigation and is moving quickly. stocks ending in the green after being hit hard last week. the market comes off three weeks in the red as traders watched the fed meeting for insight on interest rates. the price of oil is at its six year low. as forecasters expect the ohio river to remain above flood stage yesterday it reached the highest level in decades thanks to heavy rainfall and melting snow. finally hitting the record the city had 108.6 inches for the season topping the record by a full inch. a great to be extradited to

lot to angeles to fight -- to face a murder charge of his friends back in 2000 adam shapiro joins us with the new evidence coming to light. he has been linked to several murders of which one is tied to now? >> the friend susan his wife disappeared in 1982 and never found her body the zero charges. the one to investigate but susan is killed but then there is a note sent to the police with a very important address it says the cadaver at this address addressed to beverly hills. with all they spell that. there is a personal letter for mr. durst where beverly is also misspelled.

gerri: the rating looks exactly the same. >> they show these letters to mr. durst but then later after the interview he is in the bathroom the camera is rolling and here is what he says. >>. >> on the microphone off-camera he says what the hell did i do? kill them all of course, . so today in new orleans he was arrested with a gun he waived extradition meeting he will not put a block where he will be charged with first-degree murder for the murder of susan but the authorities are holding up the extradition because they

might file charges against him. within the last hour and i've there was a statement released saying bob durst did not kill susan reed came to court to face extradition to get the case tried in the courts he is anxious to prove his innocence -- innocents wherever local authorities say they may file charges said new orleans that could delay the way to delete -- to delay the extradition. gerri: day almost might have missed that. >> out is a family reacting? to read a have tried to distance themselves for many years because he was charged with murder and acquitted 2003 but today the family says the durst organization is a buildup - - billion dollar company they all

operate many skyscrapers we are relieved and grateful to everyone who assisted in the arrest of mr. durst we hope he is finally held accountable for all he has done. that is from his family. >> how did he get away with this for so long? to ricky was acquitted by a jury of his peers when he was brought up on charges and said it was an accident but apparently the authorities in moscow angeles never felt they had the direct evidence they would need like those envelopes to charge him that now appears they might. gerri: date you for this story. war footage so companies jump into a the business but is this right for individual a visor's? we have been getting exclusive of interviews with consumer technology refers to reassure consumers gauge.

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you got this. gerri: our robo with visors of a good idea it is like putting your portfolio on autopilot and then they built a portfolio for you progress first now retail investing giants are jumping into the robo game. great to see you. d like robo advisors? is it a good idea? >> i think it's fantastic to put the focus on what are you hiring a financial advisor to do? many to up their game. there are good ones in there. doing exactly what an investor wants to assess the

time period and to build portfolios according to the questionnaires but they don't need you to go out to lunch then overcharge hero. gerri: if they have the robo advisors why do they need you? >> exactly. this is what i do for a living. i am building my own but we have to prove our value and most cannot do it. i love this. but along -- a lot of the big firms don't want a smaller clients so this is exactly what we want to settle be surprised if one of the big firms does not come out with one as well. gerri: if you were young it is a great way to get launched by 40 percent of americans are not investing right now. is this a way to get people

to trust the market? >> i don't think so. if not dave may not trust him and think there -- she ended their money over but the insurance firms, a cpa and a lot of banks got into the investment business in the knowledge went downhill because there's so many people who didn't have the proper training but most investment firms don't trade advisers on how to construct a portfolio to measure risk. this does it for you. this is the wave of the future and it is necessary because people will pay a lot less to have their money it doesn't make me happy but number two it will force people to do a better job for their plans. gerri: talk about the fees at charles schwab says they do it for free but largely they don't charge for the service. but at 33 with 15 basis

points or have a basis points or maybe 1% federally cuts cost and we know what most of beck's small investors is the fees they pay for management. >> it is negative so definitely takes away and all people in my industry feel that. we make 70 percent less than redid ted years ago with these. for years rereleases competing against merrill lynch but now we compete against computers it is amazing. i cannot bad mouth the computer now. [laughter] it is simply a lot of the industry has changed but it something people should take notice of. i'd like a lot. gerri: what will turn the market around? we have seen some negative stalling are we just waiting for the federal reserve to make up its mind? what is holding things up?

>> you will have a short-term move with the fed but the only move the discount rate and the fed fund rate of those moving up isn't a big deal that moving the market higher would be increased earnings and over during the earnings from was projected. i am not a big fan of the market right now. gerri: come back and tell us about that. sxsw the annual festival in austin texas is now heading for the first time a massive trade churro introducing the latest earnings tact and digital every year there was an exclusive interview. >> sxsw has a lot of success but we have an awesome success story. i get here with the

co-founder with the company that sells porter royal charters it -- chargers result bonds. you started your chicago tried to? to read correct. just to drive and a dream and then it just took off. we have led to the portable chargers but we're starting with the all been in line of chargers. it is a blush but it's also a charger. this is $34. >> how long does it take to charge the i don't? >> is the better quality battery ban on the lithium ion it will go about one

hour 15 minutes from zero through 100 percent. we do have the juice box here if you're though it is out of juice then filling up. >> you have competitors some better selling:amazon you do direct sales so how to manage the strategy? to review is one to succeed by being different we are small fish in a big pond but we really stand out so different package did or different capacity that is what sxsw is all about. >> what you want to do to take your next company -- a company to the next level? where do you go next? >> it is almost wireless charging and also doing rapid charging people cannot

survive without being connected summer to get it faster than anybody else is key for the future. >> sxsw has an upbeat attitude. >> with our small business we feel the pay of middle america. it is very affordable we're not over charging so maybe it will be 25% more where with the margins of just getting by we need them. not really price gouging. >> sova talk about mobile or wireless what about the frontier? obviously you do well with the u.s. beat.

>> it is pretty much everything that you need it a small compact space it is up our bank -- power bank and of the bluetooth speaker last entire began on a single charge. about $50. >> what about sxsw in general? you have been here a few days so what about what people want or what they're consuming? >> they definitely want how are you see people plugging into a the walls just trying to live off of their faults we need portable power.

young america is of the:. >> eight you for your time. it is about mobility here. tomorrow we have amazing lineup back to you. gerri: i like the lipstick charger. still to come one of the biggest names in rental cars make a controversial move putting cameras and cars is a good business or going too far? stay with us.

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gerri: next time you're in a rental car think twice about singing along with the radio. hertz is facing the wrath of the angry customers

reporting customer -- cameras in their vehicles. we have the former chief information officer for the white house and founder of quarter of these solutions why do they put cameras inside the car? >> they say it is customer service but i believe there of a stepping stone to become a third party marketing database it is a treasure trove of data. gerri: how did they tell people they would use the camera in the first place? >> is customer service if you have an emergency they would like to see inside the vehicle if your and conscience to have the audio or video cassettes the situation with that it's also like dropping a a caveat that the candy shop to say don't touch the candy gerri: to think it is invasion of privacy?

>> it is that they don't disclose it the right way. the ftc has been very specific with the rental tv you have to disclose customer service they say that called may be recorded you have to disclose and not in a small contract with 6.font. gerri: data on the kiver by pushing a button there are no plans cover no plans to activate the camera but don't we know they troll for data as because they could sell it to the third-party? >> absolutely. but the other piece that concerns me is how are we protecting the video and audio that are recorded? it is all packable if you are a person of influence somebody wants to hack into your feed to listen to merger and acquisition conversations or worse so

there is a lot of unanswered questions and it starts with disclosure then what are you exactly going to do and what are the controls? gerri: what is so valuable? is aware i am driving? for the business is the iron frequenting? >> they have a new dimension they did not have. they had your location, said the speed and when you stopped but now with video and audio they know what songs you're listening to or what brand of granola you eat that could be turned into third-party marketing data. gerri: that is a winnowing. will other car rental companies:one board? prevent i think if they find a way to do this successfully without a lot of blow back the others will be scrambling to be second. gerri: unbelievable.

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gerri: according to inspector general social security administration paid more than $friend million$14 million in benefits to dead people. bog on to jerry wit gerriwillis.com for our on-line question every weekday. >> disney's live action fairytale, debuting with more than $7 $770 million. moviegoers flocked to the theaters the liam neeson thriller run all night was

second. that is tonight's willis report, thank you for joining us. "making money" with charles payne is coming right up, have a great night. see you here tomorrow. >> i am in for charles payne you are watching "making money," stocks taking off week in green three straight weeks of losses, do you closing up 228 points, can you say volatility? today's gains helping the dow and s&p plow their way back in to positive territory for the year. but news was noty is good for oil, what seems to be a never ending death spiral for crude by end of this year was able to even slowdown investoral at all oil prices plungeing into a n