there isn't competition. around then also reported that top five executives within your company earned a collective $292 million from 2011 to 2015, is that correct? >> sir, i think there -- >> is that correct? what is your salary? what was your salary last year? >> about 18 million. >> about 18 million. sound like you're doing pretty well on this. how does, how does your compensation compare to peers in your, in the industry? >> it is in the middle. >> it is in the middle. some with even bigger salaries? >> yes, sir. >> okay. were any of your payments or executive compensation packages tied to the result of epipen

sales? >> no, sir. epipens performance is a factor in mylan's overall performance but the board sets the compensation based on mylan's overall performance. >> my time is up but i have other questions i will submit to the witness. >> i thank the gentleman. gentleman's time has expired. i now recognize the gentlelady from the district of columbia, miss norton. >> thank you, mr. chairman. i appreciate this hearing. could i ask you miss bresch, after an avalanche of criticism, perhaps the worst, and that is really saying something, of any pharmaceutical in recent memory, will you reverse the increase in price of epipens? >> so, congresswoman, thank you. that we have by the introduction of a generic which is never been done before, i mean

unprecedented event for a brand to cannibalize their own. to $300. >> that you did in response to the criticism. it was, that was your response to the criticism you got from the public long before you came to this hearing. but nothing about the brand name product, is that right? >> because the way that we can make most immediate impact to the patient -- >> would be to reduce the price of the brand name product. >> but that would not be guaranteed to flow through to the patient. what we did was to give immediate and relief to the patients that fall under this -- >> that was your concern? this just might not go to the patient, so we will go immediately to the -- >> yes, our concern was absolutely that everyone who needs an epipen has one. so putting a generic into the market would, we believe, be the most effective and efficient way to make that happen. >> i asked staff, because it has

been, some responses from you about this being only one of your products how much, how substantial was epipen. i was amazed by the answer. i ask you to verify this. that, the land is 0.3 percent of the product, percent of the products. it would produce 10% of the revenue? >> epipen is less than 10%, a little less than 10% of our over you all -- >> but only about, three, .3 of the products you produce -- 3/100 of the products we

produce? >> we absolutely produce billions and billions of doses. you asked, 21 billion doses. >> this turns out to be a minute amount of the products you produce, yet, out of that comes 10% of the revenue. what bothers me, what we ought to do is compare you with others because you're certainly not the only one. the ranking member brought up the names of others who have become notorious. but even in that notorious grouping, mylan is 11th in revenue in the drug industry. can you confirm that? >> i'm not, no, i'm not sure. >> that is our information. unless you get back to us with different information, 11th in revenue in the entire drug industry? which is perhaps the most criticized sector of an economy

16th by market capitalization. and that mylan is paying its executives far more, for example. you have already testified that you earn $18 million. that's last year. i understand you earned $2.45 million in 2007. so you got a hefty increase. but, from 2.5, less than 10 years ago to it 18 million last year. that's the figure? >> i am blessed and fortunate to have not only financially but to have worked with this company for 25 years and to -- >> could ask you this, what have you done to certain a 671% increase? what have you done to earn that kind of increase? >> well, i believe mylan has

done a tremendous amount -- >> i'm asking what you have done. i'm interested in your compensation. what have you done to earn that kind of an increase, 671% increase in less than 10 years? >> i would say starting with saving the u.s. over the last 10 years, $180 billion. our products alone have saved this country $180 billion. >> i'm talking about, i'm talking about this product. >> talking about mylan but my compensation -- >> i'm talking about this product, miss bresch, this product, what have you done? is your compensation based on, what you have done with this product, which turns out to be the epicenter of your productions of many products you make. i'm trying to find out what you have done about this product that has earned such an increase? >> i would say having 700,000 free epipens across 66,000

schools across america could not be more proud about that. and hoped that we can get them in the other 65,000 -- >> which you will of course want another increase. thank you, mr. chairman. >> the gentlelady's time has expired. i now recognize the gentleman from tennessee. >> thank you very much, mr. chairman, and first of all i want to associate myself with opening remarks of both the chairman and the ranking member. and according to nbc, since it has been brought up by the previous questioner, according to nbc, miss bresch made 18,931,000 and $68 in 2015. i suppose when you get to salaries level you talk about, easy to forget an extra 931,000, but the degree is astounding, sickening, disgusting, almost any words that you can think of, not only by miss bresch but the

other executives and i am a very conservative, pro-business republican but i am really sickened by what i have heard here today and what i have read before bp this situation. i can tell you that in my opinion nobody can really earn or deserve $19 million a year, and lest anyone be misunderstanding, that free-market capitalism hasn't worked here, you don't have a free market, that is the problem. the true free market you have ease of entry. you certainly don't have that in the drug industry. you have a plenty of competition in a true free market. you don't have that here. it is primarily the fault of the fda. i have read article, after article for many years we let the food and drug administration become so big and so bureaucrat i can, it is become almost

impossible for a small company to get a drug or a medical device to market. and the costs of getting a drug or medical device to market on average become in many cases, most cases over a billion dollars to get a drug to market. and because of that, the drug industry has ended up in the hands of a few big giants. then i read article after article all these giant drug companies and pharmaceutical companies have hired many or most of the former fda commissioners and top level employees, just like the defense department, defense contractors have hired many so many retired admirals and generals. what they have done, in the drug industry, they have come in and they have manipulated the market. now, miss bresch, justifies all this saying that they only get $274 from the epipens. but this, these pens were

selling by this other company, this german company, by, for $100 in 2007. we only had, i think around 30% inflation in those years and yet they have almost tripled the price that this german company was paying. then congress with good intentions made the situation worse by giving incentives for these schools, and grants, in grants for to get these pens, and then i understand that the new york state attorney general is getting ready to investigate mylan because they have required, given these first pens out for he free as marketing device but required them to buy the next times they had to buy pens.

but what really concerns me, according to a story on npr, the fda had in july, 438 drugs waiting for approval. the time for fda to approve a generic is 47 months. that doesn't sound like very expedited to me, dr. throckmorton. in march, generic giant, teva pharmaceuticals, another giant, told investors its generic version of epipen was rejected by the if. da and it wouldn't be able to launch the generic at least until next year. another pharmaceutical company, adamus, i'm not sure if i am pronouncing that correctly, reported a similar rejection from the fda in june. that is two giant companies that have had, been turned down. dr. throckmorton, the fda needs to speed up its actions and it

needs to allow more competition, and it is not doing that now. and, and in the opinion i think of almost everybody here. and then it is all being done on the backs of sick children and it is shameful. mr. chairman, thank you. >> thanks the gentleman. my colleague, mr. clay, here for five minutes. >> thank you, mr. chairman. miss bresch, since i have a limited amount of time i want to ask you a series of yes and no questions. and then i will give you an opportunity to respond in more detail if you would like at the end. first, epinephrine is a essential life saving drug, correct? >> yes. >> the formulation of epinephrine, the active drug in the epipen has not changed since 2007, correct?

>> the pen has changed. the device has changed. but the epinephrine -- >> formulation of the drug has not. >> right. >> do you admit that you have raised the price of epipens by more than 400% since acquiring it in 2007? >> yes. the wholesale acquisition costs has increased. >> do you admit that mylan has spent millions and millions of dollars to expand the epipen market? >> yes. to expand access. >> and according to press others on september 17th, 2015, you stated at a conference and i quote, we are continuing to open up new markets and new access with public entity legislation that would allow restaurants and hotels, really anywhere you congregating there should be access to an epipen. did you make that statement? >> yes, sir. >> in 2012, a settlement

agreement was reached with teva pharmaceutical industries preventing it from putting a generic on the market until 2015, or earlier under certain circumstances, is that correct? is that correct? >> yes, sir. >> do you admit by delaying the entry of a generic drug into the marketplace, mylan has had less competition? do you admit that? that you had less competition by that delay? not you all delaying but having the delay? >> but we've had competition to epipen every year. >> okay. >> was the, "the new york times" reported that although mylan, and i quote, was once taking two 10% price increase as year, it has made two 15% increases annually starting in 2014 when

the generic competition seemed imminent. do you admit in anticipation of generic competition, mylan raised the price more sharply than it had in the past? >> not due to generic the, we did increase the wholesale acquisition costs but as, i have, as i have stated, we get 274 out of the 608. so over that time period we received an average of 8%. >> so raising the price, do you admit that these price increases were intended to generate even more significant revenues before generics entered into the market? was that the intent of raising the price, that you all receive additional revenues? >> we certainly received additional revenue but on 274, not just the 680.

-- 608. >> have you ever witnessed an individual having an epileptic seizure? i grew up in 1960s and'70s, i had a friend who on couple occasions had a seizure. >> due to anaphylaxis? >> yes. >> no, sir. >> and it is not a pretty sight. look, modern medicine has advanced in a way that is beneficial to patients. but to have companies like yours take advantage of this situation, take advantage of these people who are really in need of this medication, i think it speaks to something that is,

that we are better than that. i would hope corporate america, that the pharmaceutical industry, is better than that. i mean, you know, look in the last few seconds tell me what, you know, how do we get to this point that we have a culture like this in corporate america that wants to stick it to consumers? >> and sir, all i can speak to is our -- neil: who wants to start? melissa and i listening to. to ask a question, isn't it true you raised prices to increase revenue? can a person ask that question to be familiar how the economy works? liz: i'm really rooting for no one. david: spent their entire existence lobbying people who are now grilling them for doing what they were lobbying them to do. liz: everyone's hand are dirty in this one.

all right. david: meanwhile the fed has spoken. we have a rally on our hands. nasdaq ending the day with a new record close. i'm david asman. melissa: i'm melissa francis. this is after the bell. we have a lot more coming up right after this break. when a moment turns romantic, why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. 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, or adempas for pulmonary hypertension, 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

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on your mobile device. switch to liberty mutual and you could save up to $509. call that's liberty stands with you™. liberty mutual insurance. melissa: markets rallying following federal reserve decision leaving rates unchanged. big shocker. we have fox team coverage. peter barnes at federal reserve. lori rothman on floor of new york stock exchange. phil flynn is watching action in oil and fold from the cme. let's start with peter. >> that's right, melt lissa. one of the -- melissa. one of the signals the fed wants

to raise rates before the end of the year, it has two more meetings left, the vote to keep them unchanged was 7-3. in other words, three members of the fed policy body wanted to approve higher rates today. they voted to raise rates today. that definitely set the table for another rate for, for another rate increase by end of the year, potentially as long as the economy and numbers continue to come in as fed wants them. but, janet yellen, the fed chair was asked in a press conference afterwards, about the politics around all of this. one of these meetings coming up is just a week before election day. she was asked whether or not because of politics and the upcoming election, that that might have an influence on fed decisions. here is what she said. >> well i think congress very wisely established the federal reserve as an independent agency in order to insulate monetary policy from short-term political pressures.

and i can say emphatically that partisan politics plays no role in our decisions about the appropriate stance of monetary policy. >> but, yellen said that in the debate today the discussion was not about whether or not the economy is getting strong enough to handle a rate increase but really about the timing of that increase. melissa? melissa: not before the election. they were never going to do it, peter. all right, thank you. david: lori, if anybody had any questions about whether the markets were hanging on this news, whether they respond postively to know rate change, they got it today. it bass proof positive the markets like like this decision. >> david, markets really like janet yellen, fed chief assessment of state of economy, rate of inflation, job market, it was all good news at least the way the market interpreted it.

look at nasdaq, that is a record close. dow not too shabby up 163 points. in terms of s&p, that was up as well. energy, utilities, basic material, technology, were among leading sectors. netflix was a big loser. some wall street analysts predicting slowing subscriber growth here in the united states. back to you. david: lori, thank you very much. >> phil, gold surging after of the fed's decision. they could read between the line, that's for sure, those traders? >> yeah, they sure can. tell you what. this is the forth time, we were supposed to raise rates four times this year was it? so far it has been zero? gold traders of course jumped on that. janet yellen and press conference came out and said we fully expect to raise rates at least once this year. it dipped fold for a little bit not that -- gold. a little bit but not that much. forget about the fed. it was about oil today! oy my goodness, did you see the biggest drop in oil inventories.

we've lost 20 million in three weeks. that is a lot of oil. melissa: that is a lot of oil, thanks for keeping an eye on that, phil. david. borrowing money for free. is that true, is there any truth to that at all janet yellen denies it. talking to our panel coming next.

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. . melissa: breaking news right now, bed bath & beyond reporting second quarter results. back to lori with the numbers. what do you have? >> reporter: not so great. this is a miss for bed bath & beyond, $1.11 per share, 3 billion in revenue, that was shy of expectations, as a result, shares are down here about 2%+ in the extended session. copper bowl sales down more than 1%, 1.2%.

company struggling with the same thing all the brick and mortars are, probably note to you, you can pick up at amazon.com these days. same-store sales are coming down, wage pressures, margins, the trend, the shift toward online shopping. having said, that part of this release, bed bath & beyond does plan to add more brick and mortar stores. not doing the macy's thing talking about closing stores, bed bath & beyond is expanding, back to you. melissa: thank you for that. back to the fed, bring in our market panel for reaction, james freeman, jack haugh and john lonski. the vast majority of americans are not benefitting from this current policy that the fed has zero interest rates and look at savers in particular, we put

together a chart. inflation riding above as you can see right here, inflation is the top line, that has been higher than interest rates for about eight years now, and the shaded area is the area where savers are losing. you're losing money if you're saving money. that should be an asset, not a deficit, shouldn't it? >> that's right. policy is really a tax on savers, while we celebrate when the market rises, we have remember this is basically mainly a benefit to wealthier people who tend to own stocks and a transfer of wealth to them essentially from lower and middle income-class people who keep their money in deposit accounts, savings accounts where they're not getting the return. maintaining the policy is not just rough for savers, it hasn't worked. david: hasn't worked for the small businesses either, because of course, they -- banks are reluctant to lend money at low or zero interest rates to small businesses that

might not pay them back. john lonski, i want to continue on the theme here for a second. trump's message to the people, and tell me if you think it's right or wrong. it is more important for the fed to please wall street and shouldn't expect to please the free spending politicians who can borrow at practically nothing. more important to please them than the average savers. >> average individual, average business is faced with the difficult choice. if they want to keep saving the low interest rates to meet a certain target, they probably have to save more money. that means less spending, that hurts the economy. the other problem, of course, is very low benchmark interest rates, encourage more in terms of risk taking. you might have individual savers move into corporate bonds. maybe junk bonds and equities, thinking they're going to be relatively safe investments. they're not. david: janet yellen talked about that a little bit. jack, she was asked two

questions, asked if decisions were political based? she denied that entirely, and asked if decisions were affected by wall street one way or the other. she focused on the political. is there any doubt in your mind that the fed is very much afraid how wall street might react to the decision, and that motivates their decisions to some extent? >> conscious of it to the extent the wealth effect created on wall street by higher share price is good for the economy. let's not get too conspiratorial and rule out simple incompetence on the part of the fed. [ laughter ] >> is that a compliment? >> confuse economics with physics as though we know all the rules, it's a linear one for one relationship, maybe there is a point of diminishing returns. maybe there is no stimulus and we're hurting the economy because as you said, savers are getting killed right now. david: james, you remember the days of paul volcker, he would do stuff he wasn't afraid of

tanking the economy. his policies led to a recession, and they did so in order to squeeze inflation out of the economy because he was focused on the value of the dollar. that is a secondary concern these days? >> he had credibility. and you look at the current fed, first of all, the chairman can't keep her within her committee, three votes against her this time, but as people look at this, the central bankers including the fed, they've driven bond yields to lowest levels in 5,000 years of recorded history, and it hasn'tt delivered even the inflation. i don't know why they want more inflation, they haven't achieved any of their goals. i think it's natural for anyone to say what are you doing and to question what they're doing? david: most people don't get beyond fields, if you're saving money, you are losing money. it shouldn't be. melissa? melissa: less than one week away from the first debate. what can we expect when hillary clinton and donald trump are facing off?

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. david: we have breaking news out of omaha, nebraska after the disastrous senate hearing for wells fargo ceo john stumpf practically nobody has come out to defend him, including the biggest shareholder warren buffett. the oracle of omaha spoke to fox business and would, quote, remain silent for now, and if i start commenting on that or anything else, it will lead

down too many paths. i'm going wait until november to speak about it, the election or any other subject. joining me is charlie gasparino, you are surprised he didn't come out to defend the guy? >> no, because part of the reason why liz got this story is we had a little scoop last night that we had sources telling us that buffett was extremely disappointed in mr. stumpf's performance, john stumpf, the ceo of wells fargo, very uneven performance at the senate committee hearings investigating claims that workers under his watch, nomly, he's at the top of the firm, other people in between, created two million or so fake accounts and billed people for these. banking or checking accounts and credit card accounts. here's the thing, he told liz he doesn't want to say anything, people are saying that is a tacit admission he's not happy with mr. stumpf.

he is one of the biggest shareholders, owns a chunk of the company, he is out-front on corporate governance issues on wall street. it's odd he's not saying anything now. it would hurt his investment. but from what we hear behind the scenes he is not happy and at some point, according to one source who is close to buffett told me he's going to come down hard on stumpf. whether that will be in private or public, i don't know. clearly, this is not resonating very well with the oracle of omaha, and i will say this, his nondefense of him, david, speaks volumes here. the fact that he didn't come out and say, well, you know, lower level people did it, which is essentially mr. stumpf's line and agree with that, tells you that he ain't too happy. david: certainly cringe worthy that temperature, as was today's on the epipen. charlie thank you very much. melissa? melissa: hillary clinton and donald trump campaigning in key battleground states with the first debate only five days away, and the personal attacks

aren't slowing down head of the first face-off. listen. >> hillary clinton thinks hard working, patriotic americans like you are the problem. she doesn't get it. and she doesn't understand how democracy works, believe me. public servants are just that, they're there to serve you. but the only people clinton has ever served are the special interests and her donors. melissa: bret baier is the host of "special report," he is fox news chief political anchor. he joins me now. bret, i have to ask you straight up, what do you think is going to happen at this debate? we've seen different trumps. people forget there was a trump at some of the debates quiet and laid-back, do you think he'll go on the attack? do you think he's been given great advice to sit back? what do you think? >> i think it's going to be absolutely amazing. i think it's going to be the political super bowl, and i think that you could see more

than 90 million, 100 million people watching. i don't know what donald trump is going to do. from everything he's been talking about, melissa, he is going to react and play off how hillary clinton treats him and addresses him. i think that hillary clinton, according to the "wall street journal" and others, is preparing for two donald trumps. one who is aggressive and kind of the crooked hillary kind of pitch that he makes on the campaign trail, and one who's very reserved and held back on talking policy. and i think that dynamic is going to be fascinating to watch. melissa: is there a downside for her in attacking? i heard folks talking about this yesterday, saying that they think she could come off mean, if she is to attack him. it is hard for me to imagine because she's perceived, i think, as the weaker of the two and he's the bully. what do you think? is there a danger at him going

at her too hard? >> there could be. there could be. i think more likely than not, she may come off as a policy wonk who's running circles around him on specifics, on policy. i think that's where they want to be, the hillary clinton camp. they want to be vision, looking forward, specifics on policy. donald trump has to get over the bar that people can see the image of him being president, sitting behind the resolute desk in the oval office, and if he gets over that bar through this debate, you know, watch out. at 6:00 p.m. on fox news channel, we have some new state polls in north carolina and nevada and ohio. so tune in for those. i think you're going to see that this race is going to hinge on how these debates plan out. melissa: real quick, yes or no. do you personally believe he's not doing the traditional rehearsing where they stand

there and have somebody stand in? what do you think, bret? >> i don't, i don't buy it. melissa: you don't? >> i think he's going to the golf course sunday and has a setup. melissa: i think so, too. no, we're just guessing. >> but i believe that they've got preps going on, they want to downplay it. melissa: i totally agree. bret, thank you for coming on, always such a pleasure, thanks for your time. >> see you. david: even if he doesn't rehearse, everyone is watching, poor nfl, viewership will go down. usually does, we'll be right back.

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higher out-of-pocket costs and paying the wholesale acquisition cost which was not intended. the system wasn't intended for people to pay the wholesale acquisition cost. that's what's happening at alarming rising rate. we took the unprecedented step of putting the generic in to side step that and be able to lower the cost. >> you're doing everyone a favor by charging three times. you are trying to make us feel good about that, i just don't. do you have a guilty conscience over any of this? >> over that period of time, putting it in public places, giving 700,000 free epipens to 66,000 schools and wanting to get it in all of the public schools across america. >> if it costs 20 bucks they could afford to buy their own, you wouldn't have to give it to them. you chose to jack the prices up and want everyone to feel good about you by saying how much you do. david: you know, there's only one congressman who got it right, he said competition

would solve all this. one thing that congress has done is to end competition for this thing. that's why they had a monopoly and were able to raise prices the way they were. melissa: the perfect storm of every problem that could be out there. the health care insurance problem, lobbyists in washington, everything. david: they want to end competition in health care, the last persons who should talk about competition anyway. clinton's airwar against donald trump, why her failed attempts are leaving democrats on the edge? the microsoft cloud helps us

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and i think we're actually winning. david: hillary clinton certainly dominating the airwaves, maybe not by the 50-1 number that trump cited. the democratic nominee is outspending trump on television advertising by a 5-1 ratio. it is true trump has been gaining on clinton precisely as she is blanketing the airwaves. why are clinton's ads not working, hillary tift and david, it's a problem with the ads nowadays, may be a problem with the candidate, right? >> well, at the end of the day it's about the candidate's message and appeal. i would say we don't know that our ads are not working. she's weathered scandals, low approval ratings, if she wins on election day, no one is going to give donald trump a

trophy for coming in second. david: precisely the timing, she was spending a fortune in august compared to donald trump anyway, doubling the amount of spending he was on television ads and yet that's precisely the time she was losing her lead against him? >> right, and there's got to be a combination between the ads spent, the effectiveness of it but being seen on the campaign trail. she substituted being seen by placing ads. it's not how much money you have, it's how you spend it. clearly her ad campaign has been a disaster so far. the question is how effective will it be going forward? >> what's happening is donald trump earned media campaign has been more effective than her campaign. david: what are they thinking about the clinton camp? do they have the wrong kind of ads, doing it not in the right places or what? >> we're seeing a shift in messaging, very strong this week, starting with the convention, but this week in particular coming out with positive on clinton.

look, the thing that is -- so much different about this campaign, but people feel they know the candidates and feel they've known them for a long time. most campaigns you are introducing new things about the campaign and things to get into people's heads, people feel they know them already and have ideas set about them. the clinton camp is increasing the negatives about trump, his attitude, children should be afraid, very effective ads that they put out. with us starting to focus on what people have been calling for is positives on her. people don't know her and don't know her record. david: i don't know how effective the anti-trump ads were, while they were saying this guy is the most dangerous man in the world, that's the point he began his turn of going to mexico, looking presidential in mexico, of toning down his rhetoric from the campaign stump, and the ads didn't match where trump was going? >> right.

david: david, go ahead, david. >> if you look at the internals of the polling, what we find is that that is a lot of voters' opinion of trump, he doesn't have the right temperament, he's not qualified. but i think what we have to understand is we're dealing with two very unpopular candidates that are almost in many ways equally unpopular, so it's not a simple matter of these ads aren't working or ads, this candidate is doing fine despite not being outspent. we don't know trump's numbers might not be better without her ads or numbers might be worse with her ads. david: quickly, brad, when is trump spending his money? i know he's taking in a lot less than hillary clinton but isn't spending a lot. is he saving it up for right before the election? . >> yeah, but to david's point, what good is spending money and coming in a second to hillary clinton? look, i think the debates are going to hold a lot to the key of how much money is going to be spent and when it will be spent. david: all comes down to the debates. >> everything trump says, the

bar is so low for trump. >> i think the bar is low, period, emily. you could have said the bar is low. >> people think he's so presidential, he's doing a great job. david: thank you very much. >> thank you. melissa: the breakup that shocked hollywood. how brad pitt and angelina jolie will survive their fame and fortune?

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melissa: brangelina split is breaking the bank. they are mourning her and brad pitt's divorce. they are talking about how they divide the fortune. david: what a fortune. the pair, earn ad combined total of 550 million bucks according to "forbes" magazine. that is not a misprint. experts say highly likely they signed prenuptial agreement. melissa, besides all the money there is this. the cover of "new york post." can you get a close-up?

melissa: jennifer aniston laughing hysterically, brad pitt was married to her when he met angelina jolie on the set and cheated on her with angelina. brad in theory is romancing another woman. once a cheater, always a cheater david: "risk & reward" starts right now. liz: after four separate domestic terror attacks the administration doubling down that the war on terror is a really a war of words. this is "risk & reward." i'm elizabeth macdonald in for deirdre bolton. according to them another narrative war. another spokesperson from the state department is joining in. >> what it comes to isil we are in a fight a narrative fight with them. a narrative battle. >> what we do have to worry about, what is a serious concern, this isil inspired narrative that actually attracts people to self-radicalize, for whatever reason. liz: before we get to that, some breaking news.