golder, as people seek, adam, a safe haven which is the gold contract. >> we've had part of guests on fox business, talking about the strong dollar driving down the price of oil. greece playing into selloff in equities. [closing bell ringing] closing bells sounding on wall street. we'll let you know how we did. >> a lot of back and forth today, as we got all the new headlines coming out of greece. but as the prime minister spoke certainly the markets trended lower. let's get to trading floor. larry levin, joining us at the cme in chicago. we want to go first to nicole petallides at new york stock exchange. nicole, was the selloff overall from what you're hearing from traders fueled by greece? or was there another underlying theory for the market today? >> they tried to buy the dip early in the morning. it didn't work. as the headlines came out this

last hour, it only accelerated selling. chief technical levels some traders were watching on s&p 500. 2068, 2063, as we went below there we knew another leg was down. dow jones industrial average closing down 350 point with most economically sensitive sectors leading way lower. financials for example. safe haven ever bonds, down 2.33%. that is where we are in the 10-year bond. you have jitters and vix told you that story because that surged more than 30%. that is the biggest move we've seen in 11 months. >> larry is this because of greece? or because we're seeing a slowdown in china and people getting very nervous about the global economy? >> i think a combination of greece. i think combination of blowing through support levels as nicole talked about. 2063, 2075, we held those levels for a little while and people wanted to buy this market and feel, okay, this was a good

break or drop in the markets to buy. obviously those levels didn't hold and traders with hands turned outward selling pretty much all afternoon. below 2050 as we talk there. >> larry we've been asking a question all day on fox business, is there real aftereffect, side-effect to u.s. markets. seems to me the bond market fell ill effects of greece today. is that what you're seeing? >> for sure that is a big thing. we're watching interest rates and watching yields and we've seen big movement in that. no question about it. it has been a busy day on these floors today, that's for sure. >> you know what else is worth noting, chairman and adam, our banks here at home, they sold off one, 2%. abroad sold more so. credit suisse, deutsche bank, royal bank of scotland. names you know, barclays they sold off even more. the european banks are more volatile at this time. >> global connection with the banks. thank you very much.

nicole, larry, appreciate it much, guys. >> no pun intended a greek tragedy is playing out before your eyes. the country will default on roughly $1.7 billion payment to the imf according to greek official cited by "the wall street journal." they scramble to prevent the country's financial system boeing into total collapse. greece's prime minister take spoke speaking moments ago. >> translator: we will be alive and we shall vote. we shall opt for our future as a sovereign state. >> fox business correspondent ashley webster is in athens. you have the latest for us. what do the people you talk to, ashley. what are they saying? are they with tsipras or going to side with the eurozone? >> well, right now, adam, i don't know if you can still hear an anti-austerity rally going on behind me in front of the parliament building. they clearly believe that the no

vote will win on july 5th when the referendum is held. i think it is a case of the silent majority, adam. i think more people will vote yes, yes we will accept the austerity measures because we do not want to drop out of the euro. however, what we heard from the greek prime minister tonight, no big surprise, he is used words such as shameful and unrepentant. we shall show the rest of europe that the greek people are priedful and have dignity. all of this of course setting up the showdown. as you say, less than an hour now, greece technically will be in default on that payment to the imf. first developed economy to ever do such a thing. >> ashley, greek people lose either way, whether austerity or leaving the euro. >> yes. >> the people you talk to, if you're going to lose either way, isn't it better to be in control of your own destiny? >> well, yes and no, adam. that is the argument certainly

of the group that has been rallying tonight. they say we should in fact have a better say. we don't want to toe the line for germany and france and the e.u. creditors. however, adam, if this country falls out of the your roy, what they're experiencing now will be nothing compared to what they would experience if they went by themselves and printed up the drachma which would be masks sievely devalued. unemployment would go up. the con at this would start to contract even more. really the choice between horrible and downright terrible. i think they will take the horrible. at this point, 58% of people, 57, 58% would vote to stay in the euro saying yes to austerity measures this is greece. who knows what is going to happen but certainly is a drama and certainly a tragedy. >> ashley webster on the ground in athens. the u.s. treasury is weighing in on the situation in greece. peter barnes got off of a conference call with treasury.

peopler, what are they saying? >> well, adam, u.s. officials continue to push greece and its creditors to take difficult steps to find a compromise in the country's debt crisis. senior treasury officials telling us they are pushing both sides that would require greece to continue structural reforms to its economy while at the same time getting creditors to provide greece with some kind of relief on its more than $300 billion in debt. officials would not say what proposals they specifically endorse in debt relief but some of them circulating out there on debt relief include negotiating outright reductions in the value of debt itself, so-called negotiated haircuts. also lenthening the maturity of the debt or cutting interest rates on it to help make payments easier for greece. the u.s. favors a balanced approach with pragmatic engagement and pragmatic compromise to help get the greek economy growing again. adam? >> peter barnes in washington.

thank you. >> well the white house moving to calm contagion fears in the u.s. here today. >> the fact is that the u.s. exposure to greece is small in terms of our direct exposure. and for that reason, this is even true, sort of that the previous height of the greek crisis back in 2010, 2011. that greece is not posing major direct risk to our banking system. >> here now is austan goolsbee, former chairman of the white oust council of economic advisors. professor at university of the chicago. you better than anyone else know the cross-section of economy, politics and markets that intersect today. white house telling us don't worry about the connection to greece. markets did not like what they saw today, austan? >> i think everybody's right in that description. i think what josh earnest said is true, the direct impact on the u.s. financial system is

small. what is beginning to us from, as you would describe, market panics. the market didn't like what it saw. in some sense. i don't sigh there is a whole bunch of surprise here. even if the greeks vote yes, they're willing to take austerity, it will put off for six months, four months, however many months they agree on this exact same problem. greece does not have money to pay it back. without debt forgiveness or relief or something like that, we'll relive this groundhog day again and again. >> it is groundhog day. could this happen here. what are the parallels between the greek economy and u.s. economy? their unemployment rate is still 25%. youth unemployment is 50%. when you have people that don't have job, can't contribute to the economy. you have the pension system they have in place which they have not reformed. that is why merkel is so frustrated with them, this is where they end up.

we do have a lot of those issues here in the united states but -- >> yes and no. i think that is really misleading. to make annalgy to the u.s. financial situation is really misleading because greece already has very high taxes. greece has high welfare state obligations and spending that u.s. has. they have a fast aging population and they're not growing. the u.s. is growing. we have a lot of options. if you look at bond markets markets do not believe that the u.s. is anywhere near the debt capacity in the way these european countries are. >> what do you make of the political kind of fireworks we're seeing from tsipras? he said earlier today he basically accused imf and the e.u. of blackmail? he is there. >> he will yell at them, they yell at him. this is old soviet thing.

they pretend to pay us and we pretend to work. they don't have the money. and they have done a bunch of profligate things in the past. making them collect tax revenue, making them making them grind down wages and austerity will the no get greece growing. if they are not growing they can't pay the money. there is obvious way out of this. even if they agree to austerity they will be right back into the situation in now. >> if you run up the credit card you can't pay it, this is what happens. austan goolsbee, they're yelling at each other. we're watching it play out on our televisions. austans thank you very much. >> talking about running up credit cards and no way to repay, puerto rico's governor will address the commonwealth citizens in less than an hour in a speech that could impact the retirement of millions of america. he says puerto rico can not pay

back the $72 billion it owes creditors. some of the creditors are u.s. muni mutual funds that bought billions of dollars of bonds from puerto rico. "morningstar" says 50% of the american muni funds hold debt tied to puerto rico. tomorrow is the deadline to make a 500 million-dollar payment. they expect the governor will say it will be held back to force puerto rico's lenders to restructure and renegotiate the loans. >> like austan's question, is u.s. heading straight for another recession? we have a guest coming up who thinks so. we'll talk to the boom gloom and doom report, mastermind mark faber coming up next. >> a big win for energy industry and big loss for the obama administration. the latest fallout from the latest supreme court decision. >> the nightmare is finally

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cheryl: today the worse day of the year for stocks. the dow, s&p 500 erasing all of the gains for 2015. stocks ending near the low of the session across the board. the dow diving 350 points. that is the biggest point drag on the dow, excuse me, these are the biggest point drags on the dow. these are the names you should be watching. looking at goldman sachs, boeing, 3m. s&p, nasdaq, russell down more than 2%. big names to watch. a couple of them big banks, adam. adam: a lot of people are

blaming greece for the selloff. greece is in free fall with default looming. puerto rico is warning it may be next. chinese stock markets are having one of the biggest down days in 10 years. is this when marc faber begins to tell us all, i told you so? the editor of the boom gloom and doom report is here. are we beginning of global recession caused by greece or is there something else at play here? >> i do not believe greece would cause a global recession but it may be a catalyst for a more serious market decline. that i just want to mention that actually the market has been weak for a long time because the transportation index, the dow transportation average, is already down 11% on the year. and flat over the last 12 months. on friday, they were 191 new

12-month lows on new york stock exchange. today they were over 320 new lows. so in other words, the markets internally have been weak but it was driven by very few stocks. principally, the higher technology stocks. but -- adam: mark, let me ask you real quick. is it because china is dramatically slowing down? the chinese seem to be taking extraordinary measures to boost their economy and it is not working. >> no it won't work because they are issues or problems that you can't solve with money printing. and i have to say this about greece. i greatly admire tsipras and the finance minister who have called what the bureaucrats in brussels are, namely essentially the mafia lends the money although

they precisely greece would never be able to pay the interest, nor repay the principal. and now the problem has become bigger. but basically, i think the best outcome would be for greece to leave the e.u. and to reintroduce the drachma. this will probably not happen for political reasons. eventually the e.u. and imf, all the clowns in the financial institutions will work out the deal. but even if it were a deal worked out i don't that that market will react that postively. adam: mark, we've got elections coming up in portugal in the fall. we've got elections coming up in spain. their economies are not much better performing than greece and they certainly do not like austerity. might this be the, you know, the water spilling over the dam and out they will go too? >> well i think that most people in europe have actually great

sympathy for the greeks for admitting that they can't pay. programs initiated by the e-jb and imf did not solve problems but postponed them. i think most people understand that. and i have to say, that greece called a referendum is actually a democratic way to address the issue but the finance minister, they essentially said no to a referendum because they said that the greeks are uneducated, can't vote on important issues which is the principle of a democracy. i'm not necessarily in favor of democracies but i'm just telling you can't accuse them for doing anything wrong. adam: mark, we appreciate you being here because not many people can call mario draghi or angela merkel clowns. you can do it and get away with it. all the best to you. >> yes.

i think that's what they are. cheryl: oh, gosh. my favorite. never minces words. a few other stories on our radar for you today. more americans signed contracts to purchase homes last month. pending sales climbed to the highest level in more than nine years. rising mortgage rates are fueling those purchases. pfizer, launching a new single dose packaging for viagra. first fda approved erectile dysfunction drug sold that way much like single doses for advil. the new packaging lays flat in shirt pocket or wallet. users still need a prescription for viagra. spacex is looking into the cause of a rocket explosion on the mission to the international space station. this came on founder elon musk's 44th birthday. this is big one for nasa which is counting on private industry and cargo and astronauts to the international space station. supreme court issuing a

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>> more breaking news. 35 minutes till default. greece prime minister finish ad live address to the country and a live interview on national television and he insists greece, and this is quote, is still at the negotiating table and never left. he wants to be prime minister forever, and wait for it, he more than a quote, loves power. cheryl: not shy. not shy.

news we're following state i hadside for all of you, the supreme court handing a major blow to the epa and the obama white house killing regulations on coal-fired power plants. is it too little too late for plants that spent big money to move away from coal? jeff flock at a power plant in milwaukee, wisconsin, with report there. jeff? >> reporter: speaking of coal, cheryl, do you see any thick smoke belching out of the power plant? no you do not. today is good news from the supreme court may not be so good news in a lot of places that already begun transition to either shut down, switch to natural gas or install those expensive scrubbers that they need to meet those epa requirements that now aren't requirements anymore. look at this reaction from the head of the national mining association. hall quinn talked to our neil cavuto said, reckless rule making ignores cost to consumers

is unreasonable and won't be tolerated. that is essentially what the supreme court said today, that epa needs to take into account what these rules will cost industries like the power companies. however, the sierra club heard for, heard from, take a look what they had to say. the today's decision won't revive fortunes of big coal. utilities made decisions how to meet the epa standard that is not the epa standard anymore. leave you, cheryl with a chart of arch coal. this is five-year, and even though bumped up about 4% today. over the course of the past five years. it has lost almost 100%. i e its value. i don't know that it is coming back. cheryl: the rules in place three years ago. that is the story. jeff flock, we appreciate it. adam: as for the question what it means for already battered coal industry? we have a editor at plat's coal trader. what does it mean? i thought industry was shifting to natural gas for power plants anyway without the epa.

does that continue or will coal survive. >> that will continue, adam. coal is not going away. 40% of the our u.s. power generation last year. epa, or excuse me, the eia, energy information administration expects coal generation will be 34% in 2040. coal is not going away but yes, the mats rule, it did impact coal generation in the country, 10, excuse me, of the 30 gigawatts coal-fired generation came off-line because of it. adam: andrew, what keeps epa starting over, saying we've done cost analysis and we'll still issue regulation based on cost analysis? >> they certainly could do that. some of the sources that we talked to maybe they don't even do it at all because of all retirements already happened. once you take a coal plant off-line it is hard to bring it back, so. adam: so if the epa is going to walk away from this issue, what can the coal industry expect

next from the obama administration? does it sit down and you know, take this lying down? do they wallop back? >> well, yeah, right. so you have the clean power plant coming out later this summer and what that impact is going to be is going to be, going to be up for debate, partly because, i think states an industry will be more galvanized to fight it based on this ruling n addition we also have low natural gas prices primarily due to the shale revolution. so that is also hanging out in the background. adam: andrew moore, thanks for joining you. cheryl: you saw numbers at top of the screen. u.s. stocks selling off today as greece flirts with default. how it will impact you and obviously your money. we're 32 minutes away from official default. adam: something closer to home, the prison break that could be taken from a movie. the remaining escapee, the one holdout breaks his silence. what he had to say and where they were really planning to go.

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adam: the worst day of the year for stocks. the dow, s&p 500, erasing all this year's gains. stocks ending near the low of sessions. dow dropping 350 points. the biggest drop in the dow. nasdaq, s&p 500 and russell down more than 2%.

cheryl: overwhelming uncertainty of greece which has been a huge piece of this market, fox business's ashley webster has been in athens all day with the latest. how are the crowds now that the prime minister finished his appearance on television tonight? >> reporter: well, even the protesters have to eat, cheryl. it is down to a very small crowd in front of the parliament building. it is small but very vocal crowd. the loud speakers are pumped up to 11 to quote spinal tap tap. it is interesting, technically we're told the country is in default at midnight. that is not really true when it comes to paying the payment to the imf because as the rules state, it would be by close of business. the question is, whose business. is it in the u.s. where the imf is based in washington, d.c.? is it the close of business in greek time? the independent newspaper in the u.k. had an interesting article where they called the greek embassy that very question and

they said, we really don't know. so the confusion goes on. so technically if it is the close of business tomorrow, cheryl, that would be midnight tomorrow greek time for them to come up with a deal and actually make that payment. the chance of that right now seems pretty low considering that no one has called the greek prime minister even though he said tonight on national television, my phone is turned on all the time. i'm always ready to pick it up to do a deal. no one is calling at this stage. we are now have the prospects of a july 5th referendum but as of tomorrow, if no payment is made by the end of business day, which would be midnight here, technically, they will be in default, the greeks. that would be the first developed economy ever to be in default to the imf. so, we'll continue to follow it but the confusion as always, reigns here in greece, cheryl. cheryl: you know that well. you've been there several time. ashley, thank you, sir. adam: for more reaction we want

to bring in today's panel. steve moore, heritage foundation , jonathan hoenig, from capitalist pig fund and dan shaffer from shaffer asset management. dan, let me start with you. we hear stories about people hoarding food and gasoline. how does the economy hit and recover after they hit the -- >> they are in survival mode when they need heat, food, energy and air-conditioning. without currency, there will be bartering going on. there also very much in unknown land of, if they're even going to stay in the euro or going back to their original currency, the drawingma. it is very unstable. when you get unstable, you get people who are ruthless and things start to happen. this could be the beginning. adam: steve, i have to ask you, seems we're in fantasy land. what am i missing here? seems to me that tsipras is

leading his people to a really horrid outcome? >> well, look, this has been five years in the making. everything that greece has done, everything the imf has done, everything the euroland has done to try to avert this financial crisis has only dug the hole deeper and it has put off the dave of reckoning. looks like it is pretty close to being here. it feels like you read stories in greece where people can't take money out of the savings accounts. my goodness, that sounds like circa usa 1929, october, when people, lined up to get their money out of the banks. this can only be resolved when greece starts to rein in incredible entitlement programs and pension programs and none of the bailouts will matter. the fundamental problem is greece is living way, way beyond its means. adam: jonathan, is that accurate? or the fact that the greek economy is such shambles that there is nothing nick can do to get back on track.

>> the greek economy is in shambles is because of what steve alluded to. the entilement system bled the country dry. this led to bank run, panic. we saw that with atms emptying. i really i see contagion developing. when elephants are dancing mice get trampled. we're seeing financial elephants. adam: spain, italy and portugal or someone else. >> i'm talking world contagion. so many high credit markets like junk bonds, leveraged loans, reits here in the united states hitting six month or 52-week lows. so that tells me at least the credit concern isn't just in greece and europe. it is right here at home as well. that to me is called contagion. adam: dan, do you buy that? is it september 15th, 2008, all over again? >> absolutely i buy that. this is the tip of the iceberg what is happening. adam, that whole euro experiment is crumbling. all you need is one country to crumble.

you've got two or three others right behind them. because we're in a global society today, that we're all interrelated between the banking system and our currency system. if you're a traveler going to greece today, you're a target, visitor, because you're a target, you will be bringing cash. this is very dangerous thing. i think this is the beginning with everything else we're hearing in the news over the last 24 hours. adam: steve moore, jonathan hoenig, dan shaffer, thank you very much for joining us. >> thank you. cheryl: we are getting some more breaking news out of europe right now. just crossing right now, portugal's prime minister, says no country is immune to consequences of a potential greek exit from the eurozone. also saying, quote, it is crucial that the eurozone reinforce its cooperation to avoid contagion in the financial markets. why is this important, these comments? we already told you portugal, that economy is very fragile. there has been worries about portugal and spain going down

the same road what we saw the greeks go down. adam: we saw borrowing costs shoot up for portugal and spain. the question how does the eurozone respond to that or will they head the same way. cheryl: those comments making people nervous. other news, secretary of state john kerry holding last minute meetings ahead of tomorrow's deadline to reach a nuclear deal with iran. also this. happening on our coastline. just off the coast of north carolina. beachgoers terrified to go in the water. another shark attack, number six. more details coming up after a quick break. ♪

cheryl: well with hours to hours to go before the iran nuclear deal, both sides admit talks will go beyond tomorrow. there are worries that it will end up with a bad deal for the united states and its allies. joining me now, judy miller from the manhattan institute.

dinneen borelli, conservative review chief correspondent. they are both fox contributors. we have the project accountability founder and president. judy, if you look at criticisms of obama administration, they're saying the ayatollah, they agreed supposedly to these sanctions and these, beginning of sanctions back in switzerland. now they're saying you can't access the scientists. you can't come into our facilities but they want the sanctions lifted an we're still at the table with these guys. >> yes we are, because the ayatollah's red lines, the new conditions he put on this agreement which was, by the way, we had two different versions of the agreement to begin with, their version and our version, but the ayatollah now set new red lines and the americans are scrambling to try to figure out a way around those conditions. cheryl: but you're shaking your head in agreement this is kind of what is happening. do you think the u.s. needs to walk away? >> no, i don't think the u.s. needs to walk away. there are some signals they're

willing to budge a little bit. for instance, with the sanctions, the ayatollah signaled through his foreign minister that they can phase out the sanctions which give us a little bit more time to build an our provisions to the agreement which include the snap-back provision, basically if they violate the terms of the agreement on the sanctions, then china and russia do not have a vote in the u.n. for us to come back and say we're pulling out. cheryl: yet the russians are involved. we should be clear here. that is another scary side to this story. at the same time, you had israeli prime minister benjamin netanyahu screaming over the weekend who said i told you this would happen. you can not trust iran. they will develop a nuclear weapon and we'll suffer, right. how can you trust iran when they're screaming death to america whenever chance. our enemies don't fear is and our allies don't trust us. cheryl: why is kerry at the table?

>> they're all flip-flopping. they know obama is weak. the red line as judy mentioned, the jv team. listen they know that obama is weak and they keep playing the clock, running the clock on us. and here we are, the time has expired. cheryl: judy, why would we risk security of our middle east allies to strike this deal? why are we so committed to iranians when the ayatollah has completely backpedaled. >> i'm not sure, the question in the minds of the negotiators, that is our side, and it is not just us, remember. it is the p5 plus 1. it is the u.k. and france and germany, et cetera, et cetera, and russia yes, but the question is the ayatollah's bottom line, is that just kind of a tactical bluff to get us to back down and -- cheryl: is he really in power? many say he is. >> no one knows the answer to this question. we will know when we see what the agreement, if there is one, looks like.

>> they, sanctions should not be lifted until citizens come out in the street to protest. cheryl: it will drive them in the the economy is in sham else about. another deadline going through the doors. adam, to you, sir. adam: cheryl, we have the latest on 2016 presidential race. nbc universal fired donald trump after negative comments he made about late teens knows. nbc safes the annual miss usa and miss universe pageants are joint venture with trump will no longer air on nbc he will not be pardon ming in the "celebrity apprentice" on nbc. that is licensed through mark brunette's media group. that relationship h relationship will continue. ohio governor john kasich is expected to join the crowded gop presidential field july 21st, plans to announce from his alma mater, ohio state university.

fellow governor chris christie launched his campaign website and video ahead after formal announcement scheduled, with announcement, and this is a quote, telling it like it is. cheryl? cheryl: he does that very well. adam, thank you very much. another shark attack off the coast of north carolina. why would you go swimming off the coast of north carolina. a teenage boy is the sixth person bitten by a shark in just two weeks. the 18-year-old was upgraded from critical to serious condition. he bitten on the outer banks. a lot of accidents happened there. this is latest string of attacks including two children swimming on a beach about 60 miles away. both children lost an arm in those attacks. three other attacks appear to be non-life-threatening, adam. adam: part "shawshank redemption," part "cool hand luke." the latest on the prisoner escapee as one of the workers that helped them bust out goes before a judge. going downswing and taking

the global economy wit. greece's prime says he is still is at the negotiating table with hours left until a possible default. ♪ if you're taking multiple medications, does your mouth often feel dry? a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene, available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too. remember, while your medication is doing you good, a dry mouth isn't. biotene, for people who suffer from a dry mouth.

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adam: it took 22 days for people in upstate new york to sleep easier. we're learning new details where david sweat and richard matt originally wanted to go when they escaped from prison before their master plan fell apart. at this hour a second prison guard is facing a judge for helping those go killers escape. prosecutors say gene palmer smuggled tools to david sweat and richard matt. fox news correspondent rick leventhal live in new york with the latest. we want to start with new details about the escape and what have you learned? >> reporter: despite being shot twice when he was captured,

david sweat is apparently talking to investigators according to new york governor andrew cuomo confirming he and richard mat were relying on civilian prison employee joyce mitchell to pick them up when they climbed out of the pipe in dannemora and kill her husband and live in mexico and live happily ever after. but she never showed up and sweat split up with matt five days before matt was killed because matt was slowing him down. sweat almost got to canada. jogging down a road, just a mile 1/2 from the border in a town of constable, when new york state police sergeant jay cook spotted him, recognized him, chased him and shot him two times in the torso when he appeared that the dangerous escaped felon might make it to a tree line. >> our intention, law enforcement was to bring him in without having to use force. sometimes, as in the case of matt, where he was armed and he presented a threat, sometimes

force is necessary. it's a dangerous job that our law enforcement officers do. >> reporter: sweat is now recovering at albany medical center. he doesn't need more surgery. they say he will be there a few more days before he is returned back to a prison cell, adam. adam: what about the corrections officer accused of helping the pair in court, not mitchell but this other one? >> right. gene palmer, a 27 year veteran at clinton correctional institute was here in plattsburgh behind us for a preliminary hearing. they waived right to felony hearing. he remains free on bail. his case will be presented to a grand jury sometime three to four weeks from now. he is accused of getting too chummy with the two inmates, matt and sweat. gave them a screwdriver and needle nosed driver and access to catwalk area behind their cells to tweak a breaker box to give more power in their cells to cook meat. he allegedly gave emthis ground beef with hacksaw blades inside it.

he said he didn't know the blades were there when he handed them the meat. he is not being charged with that but being charged with accessory to their escape and could face serious prison time if convicted. adam: a lot of people in upstate new york breathing a sigh of relief. rick leventhal, thank you very much. >> reporter: absolutely. cheryl: bill daley, former fbi investigator. rod wheeler, bill daley. i have to start with you, we're just learning fox news confirming that the fbi will investigate the clinton correctional facility for corruption, potential drug trafficking. that is a statement we're getting from the fbi, bill. are you surprised by the allegations against the facility coming to light in these last few moments? >> certainly surprise and and i would say certainly disappointed. disappointing when you hear anyone in law enforcement and people responsible for keeping convicted inmates where they should be. when you hear of this going on, with regard to the further investigation, it is suggesting

that the protocals, the laws, internal rules and regulations broke down. that is quite evident what we hear from both joyce mitchell was involved in as well as second guard. cheryl: sure. >> apparently turned a blind eye. not just turned a blind eye but complicit. cheryl: how common is it, rod wheeler? have relationships in prison and is this type of felony happening at prisons across the country? >> this isn't the first time, probably not the last time something like this happens. as a matter of fact last year in the baltimore prison here in baltimore, maryland, 14 correctional officers were criminally charged being involved with prisoners of the not first time. not unusual but i think the prison administrators have to do better job in terms of vetting out their employees, making sure they're on top of those kind of things. cheryl: bill, i have 30 seconds left, how big of a story do you think this is? how big of a slap against governor cuomo this will be when it comes to light you have all the issues at facility?

>> i think it is an ongoing story. i hope it calls for a look-see at other prisons, if not, actual investigations. certainly call to arms to the people to be on their toes. be sure they're following procedures not to let this happen again. cheryl: do your job. don't get involved with prisoners. thanks to both of you. news breaking in the last few moments. thank you, guys. adam: heading for the greeks sit. what it could mean for you an your money next. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck.

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things excuse me going on in greece and bad for u.s. markets. adam: keep in mind, we have ashley webster live in athens covering what is happening on the ground in greece. >> that deadline in iran and couple of prisoners talk. jo ling kent. fox business, "risk & reward" starts now. >> welcome to "risk & reward." i'm jo ling kent in for deirdre bolton. this hour a brutal day on the markets. markets selling off nearly 400 points as they reach the deadline for default. greece prime minister said they will survive. latest on that. how a greece default could affect your 401(k). first ruling against the epa curbing merck cure re eye mission. we'll show you the impact -- mercury. "risk & reward" starts right now.