join us. visit uso.org to learn how you can make a difference in the lives of our wounded warriors. the uso. until every one comes home. >> this is a fox bus special report. >> hello everyone and welcome i am jerry willis this is a fox business special report. global financial markets are selling off tonight. the first reaction to the u.s. credit downgrade bystander and pou -- by standard and pours. gold is soaring. we are covering it from all angels especially how it will effect the current economy and your money. this is a huge political story as well. the obama administration is firing back at standard & pours for the downgrade. we have the best with us

tonight. where me tonight is liz mcdonald sandra smith joins us from the business newsroom and live from the white house rich he hadson. and joining us on the phone jason sles singer and tokyo bureau chief. i want to start with you. what can we expect out of the market tomorrow morning? >> it is looking like we will see a big dropoff. futures indicate a sharp selloff. dow futures down 200 points we are seeing a 194 point drop there. we hadn't down nearly 300 points. we have come off of the lows of the overnight session. those are still nearly 2 percent losses across the board for the major averages. it points to a lower market together. oils right now trading down more than $2. it had been down $3 but still a significant selloff there trading around $84 a barrel

there. gold as well as silver precious medals attracting the save haven investor. gold hitting new records at 1690 an ounce. gold closing in on 1700 an ounce. right now stock index pointing to a larger open a sharp selloff as well as overseas markets in hong kong and tokyo we are seeing markets already down as well. >> it's going to be a dramatic day tomorrow morning that's for sure. rich, to you in washington what's the reaction to all of this? it has been a lot of people firing guns to each other people calling for geithner's resignation and on and on. what are you hearing? >> mostly it's the administration now against standard and pours a strong campaign by the white house and administration by what s & p has done here. u.s. has seen a downgrade in the

credit watch. they are pushing back strongly. tim geithner with an interview with nbc news said standard & pours showed a lack of knowledge when it comes to u.s. budgetary accounting. the white house also saying there was a major or in all of this on friday. s&p came to the white house according to those close came to the treasury department saying this is our accounting we are going to drown grade you you are off by $2 trillion. standard and pours came back brought that estimate up by the 2 trillion but still downgraded the u.s. anyway. you have gene sperlg type white house advisor saying the magnitude of the error despite the unwillingness to change on the spot says this is politically motivated. republicans are staying this shows an unwillingness by the administration to cut we need to continue to cut spending and

they refuse to raise taxes. democrats saying it's republicans in theory if you sayal to raise taxes on families earning more than 250,000 each year is the stumbling block in all of this and causes in effect tomorrow house democratic leader nancy pelosi is holding a forum to discuss democrat's commitment to protecting medicare, medicaid and social security. republicans say you have got to put the entitlements on the table if you are going to fix this problem. already as we know from the structure of what congress agreed to in this debt deal it cuts 900 billion off the bat and puts a trillion and a half at least to cutting deficits in the future to this super commission. the members haven't been named yet. already you have infighting with congress that you have seen for months if not years in washington, d.c. which makes the point s&p is making which in washington is going to solve this problem. >> s&p has something right from. there is gridlock in washington

that's allowing nothing to happen. let's bring in liz macdonald. you have covered the markets for a long time. you are knowledgeable you have been breaking news all weekend on this. i want to talk about hey what does this mean for 401 k, higher mortgage rates? are car loans going to be more expensive? how will it filter through to regular people on main street. >> the money fund market people are worried about that. the reserve fund the primary fund broke the buck during the 2008 crisis. he was holding leeman brother's piece of paper per. money funds tend to have a lot of short term debt. what's in trouble now is the united states long-term debt. that is what is at issue not the short term debt. i think the money funds you are not going to see royaling or turmoil there possibly. as for the knock down effects you worry whether or not it will

hurt mortgage rates not the fixed but the arms home equity loans credit card auto loans and student loans. if moodies and fitch follow along which we don't see that they reaffirmed the w day we ha the debt deal. they did drop on friday to 2.6 percent. people are more worried about what's going on in europe. european governments including france and russia and south korea are coming out in support of the u.s. big news big news federal reserve big t derivative cleari house is not changing the value of the treasuries and holdings for their clearing. >> the treasury is such an important part of the financial machinery of the planet. a lot of people don't understand this. the effects are wide ranging. sandra i want to go back to you. probably in the broker dealer houses all over new york city wall street investment banks they are probably doing a lot of

conference calls right now trying to figure out what to do tomorrow morning. what are you hearing? >> i spoke to one trader in the new york stock exchange trading a few moments ago who said merrill lynch will be holding a conference phone conference this evening. the speculation would be that they are going to decide tonight what this means for their business or their clients. it is just a reminder while we watch the markets and the reaction right now as they open throughout the world there is still a lot to play out. in the morning we might hear how the big financial markets are going to advise clients going forward based on this downgrade. the indication is we are going to see lots of volatility as all of this continues to play out and as all of these big houses decide what this means for their business and what this means for their clients. there are going to be a lot of late nietsz for the

professionals in the business. i want to go back to you for a second and play sound for tim geithner who talked about s & p and the terrible judgment. here is the secretary treasury. >> s&p has shown terrible judgment and handled themselves poorly. i think they drew exactly the wrong conclusion. >> rich, to you really? is this a pr move by the administration just saying s&p has no idea what they are doing? they have been around for 20-years they must know something. >> it is a tough spot the administration is in. you are watching again the first credit downgrade this is the sitting administration right now. there is two real moves that the white house is going to make from here. the first is to try to say s&p isn't correct here they did get a budget deal it's not what they pushed for here at the white house. they have a budget deal and they are still in line to get this

thing fixed. secondly you look to see the president again made all of this talk for pushing the big deal but it was the republican's reluctance to get this done. it was gearing up in both parties for the 2012 election. the president came out with a budget then he gave a speech in which he outlined another budget in which independent analysis could cut 2 and a half trillion dollars. republicans want to cut some more. this is a budget fight we are going to have for the rest of the election season. this is something the white house didn't want to get into raise the budget ceiling keep it fixed not get into the election season. with this downgrade it's permanently a fix tour for the next few months if not the next year and a half. >> j jacob we have him on the phone -- sorry we do not have him tonight. one question i have from today, how could the administration be so blind sided by this? how could they not know it was coming?

>> that's part of the reason you are hearing from the administration as to why it may be political. standard and pours came on friday with all of this came with a set of numbers these numbers were incorrect and went ahead and changed the just tickcation. standard & pours say they were working with two different numbers telegraphed through the u.s. outlook it may be a possibility. you have seen folks from the credit agency s & p was asked about this idea that congress needed to cut 4 trillion in deficits over the next years to keep the u.s. triple a rating. standard & pours called it a good rating. the 100 billion off the front and 9.2 trillion if it doesn't recommend anything else. that's about half of what they were looking for. >> i understand we have you on the phone now. we saw it as the japanese market opened down. not dramatically so.

what do you expect in the days to come. tell us how japan cope withed a downgrade. >> it's down but not a lot. it has been stable since the opening. some were speculating you would see a sharp drop in the value of the dollar. that has held steady as well. as far as the days to come who knows? we were caught by surprise with some of the sharp drops last week. we were caught off guard. things are stable globally and there's a lot of nervousness and the s&p's timing was good because they put it out after all markets closed to give people 48 hours to digest it and give th . japan has been downgraded many

years and lived to tell the tale. we are still here. japan like the u.s. also protested at times some of the downgrades but didn't seem to cause any immediate damage. >> jacob thank you for henning us out. rich thank you. liz we are going to come right back to you. if you have questions for us tonight tweet me at jerri willis. please join the conversation. our panel is staying with us. we have more to get to including a former s&p official. stay with us. at bayer, we're re-inventing aspirin for pain relief. with new extra-strength bayer advanc aspirin.

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gerri. >> noble markets in turmoil tonight following the stunning s&p downgrade as the united states played fried night the markets were closed then. they are help now and there is heavy selling in stocks and oil. wall street said they will be sharply lower as well. sandra smith and liz of fox business still with us. senior vice president and director of credit analysis for herbert j. sims and company. i want to ask you what is going on in the markets right now. are you seeing any big changes oil, gold? >> in the last few minutes we

saw the selloff worsen a little bit. still not near the lows of the overnight session. we have been down as much as 300 points. we have lost about 30 points in the dow futures since we opened this show. as you can see that's just under a 2 percent drop there. nasdaq down 40 points s&p 500 down. oil is down 2 and a half dollars. we continue to see the flight to safety big buying in gold. we are $8 shy of hitting $1,700 and now we are up more than 40 bucks there. big buying in the precious meta metals. >> dick lar ken want to go to you right now. worked at s&p for a long time. treasury secretary saying s&p has terrible judgment incapable of managing the country's finances. >> s&p does a good job.

people over there have an awful lot of integrity. >> is this a political move? could there be a lawsuit? seems like we are going to be in a major crisis because the president will not accept the numbers. >> s&p there may be political ramifications but they have no political gain to be gotten out of this. most important commodity is basically their reputation. if their reputation ever gets damaged they are out of business. s andz p is smart enough to not get involved in politics. politics is an important part of their company. >> they have a lot of respect to earn back. i don't know if this is going to do it but they got everybody's attention. >> you know what got my attention liz macdonald is china downgrading our debt first and saying we are basically dead beats. >> china has the worst rating

from s&p. they are at aa negative. their debt to g dpshg p ratios are not just worse than the united states but worse than insolvent portugal. that comes out of beijing based firm well respected called dragon omics. moodies had amount of bank debt in the system they found a lot of discrepancies as to reported debt in the system. we know china is littered with ghost towns where the done a lot of stimulus spending on their own. china's books have been about as transparent as a bucket of tar or mal la molasses. trying to finger wag us when they have been gunning their own printing presses to keep ulan cheap to make exports cheap so they can keep their population happy. they are the ones that are the most aggressive. they are the biggest foreign

holder in u.s. debt. we get it. united states gets it. when i say we i mean the united states. they can't unload or hurt their own holdings that's the issue. >> the point i was going to make is everything they say bad about s&p and our debt impacts them dramatically because they hold so much. >> absolutely. >> we have republican congressman reed ribl coauthor . congressman were you surprised do you think if we had cut cap and balance we would have avoided this downgrade? >> thanks for having me on. i was not surprised the downgrade. s&p has been talking about it for months. during the budget negotiations we met with the ratings agency just a few weeks ago before we wrote "cut cap and balance." we had a meeting with s&p we knew where they were at. cut cap and balance was specifically to address their concerns.

i don't believe we would have had a downgrade had cut, cap and balance been signed into law. >> you think cut, cap and balance would have keeped us from departmenting the downgr - us from the downgrade? >> i think if it wasn't a deal there would be downgrades this week absolutely. i thought once they got passed that and cash crisis was in the way i was surprised. i know they had warnings and a watch list. i think the thing that probably put them over the edge was the fact that congress and the president let it go down to the last second. >> going to have to take a break here. thank you liz sander. a lot more still ahead tonight as this fox business special report continues. we will check in on the latest market action as wall street gets set to open sharply lower tomorrow. we are standing by from tokyo, london and new york. how this is effecting your 401 k. what advice for tomorrow.

should you buy, sell or hold? who are the ratings agencies that hold so much power over the u.s. in i am going to break it down. don't go anywhere. a vacation on a budget with expedia. make it work. booking a flight by itself is an uh-oh. see if we can "stitch" together a better deal. that's a hint, antoine.

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anp. >> right about now you may be thinking why did a little company like standard & poors have suc our economy? s&p carry big weight with professional investors folks deciding whether or not to buy our nation's debt. they don't have the time to analyze the safety of every bond they buy they rely on ratings agencies like s&p to do it for them. it's probably good outsiders judge sovereign debt because you can image what the advice the countries themselves would give on the debt, buy it it's great. but the reputations of all of the big ratings agencies have been in at that timers after th taters after they failed to forecast what happened had the investment market. some companies say s&p is trying to get back the reputation after the downgrade.

our financial system is compromised our national debt $14 trillion the same as total economic output each year. s&p has that much right. we need to do something about our debt levels and soon. downing me matt mccall and james guillard chairman and reo of rabid ratings international which gives financial health ratings for thousands of countries worldwide. lee is still with us by telephone. i want to start with you. you have been sort of famously critical of the treasury secretary tim geithner calling him out at a house hearing one time on his numbers i recall that very well. what do you say tonight. people are saying tim geithner should leave office. >> i am not sure if he could leave office. that's a decision the administration has to make. it does start at the top the president needs to make

determinations there. this is the first president the first administration to deal with this in this country. >> you are in the business you compete with stand n po withsta. were they not looking at the markets this past week? what do you make of what they have done here? >> they weren't looking at 2 trillion of the numbers. there's a famous mistake they have made. they were looking at the numbers that were not well along the way is hard to say. clearly they had a predisposition towards a downgrade because they went ahead despite treasury pointing out the error they went ahead the same day and moved forward with the downgrade. to me that's an indication they really were inclined. all of the explanation was pol complee based. >> you think they go into

governments and push to take some kinds of action. aren't they supposed to be analysts in>> i don't know if they are pushing. i was testifying to the house of financial services over sight committee the word in the halls everyone was paying attention to what were mr. beers and chambers saying today? what kind of indication are we getting? what are our bogeys what do we need to do. it is clear s&p was not just an analyst but they were a part of the story. they got themselves pretty far across the line. >> they are part of the story now. s&p is going to have a conference call tomorrow morning. we might learn more about their decision making and what they are doing. who are you hearing from people in your district? with folks worried about tomorrow? are people freaking out? >> i don't think they are freaking out. what i am hearing is they are bothered by the fact the country

almost suffered a bit of humiliation here. that's a bit of concern. most of those who got a fair amount of money invested they think it's already priced enof the market because s&p and moodies have been talking about this for the past four or five months. we had an opportunity to be aggressive with cut cap and balance. there's disappointment the president wouldn't consider these options. >> i understand you have to go. appreciate you joining us by telephone. >> matt, i want to bring you in. we have talked about this for a long time. we have been covering it a long time. t a s&p their decision was no surprise. they telegraphed their hand. they said they wanted 12 trillion in cuts. >> it's a lack of confidence is what it comes down to. said constituents weren't that concerned. i saw clients for the last

24-48-hours and majority are extremely concerned. i have gotten two i mails outside of the studio. keep in mievend even though it might be pricing with the pull back we had last week people were selling because they are extremely panicked this adds to the panic right now. that's why we see the market down. people are selling first asking questions later. people don't want to buy homes or cars they don't want to spend money. now with the approval rating in congress at 18 percent what confidence do you have in our government to spend money? >> we have a twitter writer who says to ask this question you both can answer. think we ought to cash in stocks and go for cash and buy gold now? should i get rid of the investments dump them out and buy gold. >> i said the exact opposite. our large holding is gold $35 an ounce right now.

we are going to be looking for weaknesses and buying strong solid companies tomorrow morning. >> you see the uncertainty baking into the market. it's not just the professionals by conference call talking about -- talking about this worry and concern. >> i think they should be but i don't know what happened. futures took a hit they are up back a bit. right when we came into the studio. we are going to have a volatile few days we are coming off of a tough week last week. the timing wasn't spec tack yeah but we knee a bit of patience. >> when the market droched, the next day it went up. >> it happens all of the time. >> jat and james are sticking around with us. we are watching the markets we are watching the wallet and the

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with better car replacement, available only with berty mutual auto insurance, if your car is totaled, we give you the money for a ca one model year newer. to learn more, visit us today. responsibility. what's your policy? >> treasury secretary tim geithner said s&p showed terrible judgment in lowering the u.s. credit rating. really or was it the administration spending that showed terrible judgment? still with us is pen mccall and james of rapid rate international. marshall blackburn from tennessee is with us. first more global markets are opening at this moment. let's get the latest from standard smith. >> -- sandra smith. >> they are falling in correction territory many down 10 percent. hong kong hang seng opening out

of the gate. that index plunging by 2.7 percent. we saw the hang shy high composite open it over a percent. asia plunging on the set downgrade as well. as the markets open they are going lower. it is a nasty compilation of public policy and financial fiscal policy. tell us what you mean. >> for years we have had an environment that promoted the use of the big three rating agencies nis road nationally recognized fiscal rating organization. the government is now paying for that support that it has directly given to the big three rating agency given the undue amount of importance in the market. >> do you say the same thing? do they have it right?

>> a client called this afternoon what is s&p what do they do? really it's one person's opinion if you think about it one company's opinion on the u.s. debt. they are downgraded them twice in the last two months. it is one opinion. we have put so much into these big three credit agencies. >> one company a $14 trillion economy that's a lot of power. i want to bring in representative marsha blackburn republican from tennessee. welcome congresswoman. great to hear from you. >> good talking with you gerri. thank you. >> i want to talk to you. you were in favor of cut cap and balance. if we had put that in place do you think we wouldn't even be having this conversation today? >> well, i think that indeed had we put that in place we would not be interesting this

conversation because it met every bench mark we were told needed to be met. now, we knew that there were not 60 votes in the senate. we knew they were not going to call the bill up. what we did was to continue to have other provisions come forward. what we have on the books now are the basic under tin pinning of cutting spending putting spending discretionary caps and calling for an up or down vote on a balanced budget amendment. that is a good start. it is a foundationnal step. this should be a lesson to everyone in washington what we were saying about having some long-term system wide reforms is indeed necessary and what they want to sees spending reduced. that is at the center of it.

>> is tim geithner the person to lead that? do you think the administration can do it? >> i think you and i talked a year ago. i was told for geithner to be removed a year or so ago. i sent out a notice yesterday a comment that i think he needs to go. for this to have occurred and for the president to say the secretary of treasury has his confidence, i think that tsz the time for him to step aside. >> you know this weekend dave axle rod who works with the president very closely he calls this a tea party downgrade. do you agree? >> no. i am pleased tea partyyers and conservatives and individuals who who love this country dearly have said washington doesn't have a problem it has a spending

problem. they have put this nation on the track to those principles. they are saying look the spending is out of control. we see it every day. we know that it is there. when you are borrowing 42 krentsz of every dollar you spend you know you don't have your fiscal house in order. the awareness level right now is enormous. people expect something to be done and rightfully so. >> i want to go to james geller. you are in this industry. you are in the downgrade upgrade industry. did david axle rod have it right? is it really the tea party downgrade? >> i think there is plenty of blame to go around. s&p was very unhappy with the stalemate in washington. the fact that washington was ultimately playing a game of chicken with a default right down to the wire is -- was one of the motivating factors here.

whether it was tea party or anybody else -- >> they would be blamed. >> how did the administration not know this was coming? they got blind sided? they go on the attack. isn't it obvious to any one watching this we have a huge debt problem? >> one of the biggest stories is they got downgraded geithner and obama say what, everything is fine. they won't admit they have a spending issue. if i were americans sitting down there, we got downgraded we are going to go in the right path now. the government continues to refuse to say they spend too much. that is what concerns me. let me give you a good example of this. every year i have been in congress i read bills who want a 5 percent across the board spending cut.

this past week when we had the energy appropriations bill i get the high water mark on my 1 percent across the board cut. this is how difficult it is to cut. this is why we have needed some spending caps. this is why we need a balanced budget amendment. every economist you have read have said the problem is on the spenteding side of the ledger the spending and the size and scope of the federal government has to be reduced. washington congress has to get serious to do that. i agree with that. >> families know how to do this the federal government doesn't. family members know how to balance that you are budget. they could learn a thing or 2 from main street. matt, james, congressman blackburn thank you for helping us out. h a lot more still ahead tonight

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>> u.s. futures sharply lower at this hour. another down dade f day for thes

tomorrow. joining me in the studio is financial rank the nation's number one independent financial advisor you are looking at him right now and harry bent financial news writer and author of "the great crash ahead" strategies for a world turned upside down. san trau smith has an update from the fox business newsroom. >> investors blocking to gold right now. we are seeing big buying. gold is now hitting an all-time high just a less than $4 $4 awa from hitting $1,700 an ounce. $44 that's nearly a 3 percent gain there. quick look at the stocks index futures still down significantly about 1 and a half percent losses across the board there. we are looking at dow futures 181 points. >> i want to to go harry dent now. you are a well-known bear. you don't have a positive view of what's coming next.

tell me harry what do you see coming in the market tomorrow morning and what are you going to tell your clients? >> the baby boom d generation peaked in the long-term spending cycle. that is why stimulus programs are not working. people are aging saving more kids are getting out of school. they don't have money to spend. they are not going to spend it on housing. that is a different scenario. the stimulus will keep failing and we are going to keep seeing the markets be disappointed. tomorrow morning the markets are going to be down. they are not going much lower. investors should not panic here. there will be a correction like this in the late stages that makes everybody their has been a

pop and there will be a rallying high. october at the earliest but we do see a major crash in the next few years when the stimulus plan finally fails. there is a surge of spending coming first which may surprise the markets in the fourth quarter. >> rick to you, you and i have talked a lot about this topic about what happens with a downgrade. what do you think coming and what do you think you have by your clients? >> clients are asking what is the s&p and what gives them the ability and authority to issue such a downgrade. you have had other guests talk about that this evening why do they have such power over the market? they have questions about basic understanding and education which is what consumers need to be doing ignore the prognosticator and those who say it will be happening this week this month this year. nobody knows nobody can predict.

those who pretended are probably going to be wrong. we are getting a lot of questions on twitter. as he mentioned people don't understand what's going on. even the pros don't understand what the markets are going to do tomorrow. the question is this what effect will the s&p downgrade have on the average person's ability to obtain a mortgage not mortgage interest rates but getting a mortgage? >> it will make it a little harder in the months ahead. it will tend to push interest rates up at first. at some point when these interest rate rises hurt the economy and the economy goes down eventually the interest rates will go lower. we see a big play in maybe the next six months for investors to start to buy long-term treasury bonds again as rates will come down. they will go up first as people start to realize the stimulus plan is going to fail.

so if a tricky environment near term mortgage rate is up 2-3 years from now they are going to be even lower. >> quick question for you. there has been a lot of debate questions about what is going to happen to fund managers who are supposedly required to hold aaa rated security? this includes money market managers bond managers. do you think there will be a selloff of the security? >> not at all. >> why nonot? >> the reason the prospectives are said for decades they were required to hold aaa securities it's a synonym for u.s. treasuries. aaa and treasuries were synonymous. instead of selling off those treasuries to conform with the rules we will rewrite their perspectives and charter so they are allowed to continue to own in treasuries. treasuries are today as safe as they were on thursday as shakespeare says arose would smell as sweet by any other name.

>> stay with us. we have a lot more to get to. coming up tomorrow on the fox business network we will have continuing coverage of the world's market's reactions starting at 5:00 a.m. eastern. you are really going to want to start early with us. tune into the report tomorrow night as we continue our look at the how the downgrade impacts your investment. stay with us. you could save a bundle with geico's multi-policy discount. geico, saving people money on more than just car insurance. ♪ geico, saving people money on more than just car insurance.

>> last week the bank of new york had a very interesting announcement. they said for their biggest client they wanted them to pay them for keeping their money. if you were a client with 50 million and you wanted to park that money with the bank you would have to pay fort privilege. is this something that will catch on do regular investors have to worry about this? >> the same with treasury bills you get paid nothing to have safety. this is a volatile time and

things are in question. they are in question. again we are telling people here people are run to go gold and silver for the same reasons for safety. gold and silver will the biggest bubble you have seen. silver had a bubble where it went from $5-50 and crashed right back to $5. that's what you have to be careful of. you want to be safe you should be in t bills and save assets and wait for all of the volatility to sort out. we do not think stocks are going a lot lower here. we think they are going to go higher year end and then we see a big crash. people have to be careful here. the volatility is trying to get to you do the wrong thing. >> let's go to sandra for a second. see what gold is doing right now. it has been very volatile. you get the point. it is the precious metals getting the safe haven. up 35 bucks and we are closing

in on the big psychological numbers. something to watch. silver up by more than 4 percent as well. >> thank you for that. when you look at the commodities and precious metals are you recommending this to your clients? >> we are telling people gold and precious medals are having a massive bubble that will burst soon. credit downgrade from aaa to aa plus do that mean treasuries are riskyer shouldn't you demand more interest from them why is it they are willing to take 0 as a rate of return. treasuries are the safest investments of the world i don't care what the rating is. this is a buying opportunity. this is the best buying opportunity we have had in hoar than a year. >> precious metals all of it has

done is gone up? isn't it hard to make that decision? >> the only reason they are buying gold is they don't like everything else. the demand for gold will go away and gold will crater and capital identifies on itself like a snowball rolling downhill. it will drop and drop big. >> harry is it a snowball? >> yes, it is. we have seen bubble after bubble tech stocks real estate emerging market and oil. we saw the great depression ahead precious metals would be the last bubble before all of the bubbles burst. one of the things we have never seen in our lifetime as we started to see in 2008 when the stimulus fails next year particularly we are going to see everything go down real estate stocks, gold silver commodities. they will be nowhere to hide except short term treasury bills at first. when treasury bonds fight which they usually do in a crisis then

you buy treasury bonds. >> we have to leave it there. harry i wish you were happier we have to give you valium or something. >> we have to run a lot more ahead tonight. we are covering the u.s. downgrade from all angels as fox business special report continues. stay with us. so i was the guy who was never going to have the heart attack. i thought i was invincible. i'm on an aspirin regimen now because i never want to feel that helplessness again. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. talk to your doctor, and take care of what you have to take care of.

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