we thank you for watching. keep it right here. number one business block. cashin in with carol casone. there it is. forget the fire storm raging over the president's recessed appointment this week like the consumer agency. we need to send the entire agency to rest. i am cheryl casone. >> we have wayne rogers and yawn thon . tracey byrns and john layfield . christian dorsey. tracey, i want to start with you. best way to protect consumers is get wid of the new consumer protection agency. >> most things do these days and we are talking about power

hungry. >> and they are going to be passed on and look. ask corporate america and bank of america who tried to impose fees on the customer and they barked back and the fees are gone. >> wayne back in 2011, ha, ha. two weeks ago. the agency had come up with 21 rules. i am curious what they will do now they got it in place. you think hundred or two hundred rules? every time one of these agencies. this under the dodd frank reform act. no one knew what was in it when they voted on it it is a congress massive moronic statement . now come out and appoint a

czar to run this thing. it creates its own rules and 21 of them so far. anyway are out of control and they proliferates itself and appoints more and more people and you have massive regulation of which are at odds with each ther if you look at it it is impossible to comply. no way the federal government can continue we have to have a revolution in the country it is insane what is going on. >> christian, the goal under the president is to help protect the consumer from unscrupulous lending practice. do we need that much protection from the agency? >> yeah. i think 2007 and 8 shows us there is a clear need for an agency. reg haatory functions were spread over so many different government agencis and the fact we consolidate them into

one is efficient. this will help consumers and will prevent the abuse of practice that led to the incredible consequences of 2007 and 8. that's the best way to protect consumers. >> johnathon. predatory lending and feas that are hidden. is that a bad thing, johnathon in >> that's the theme of the president and he's echoing the theme that the president spouted since day one. unregulated financial markets killed the economy and financers are nefarous crooks. but they demonstrated. fred yefanny and bernie madoff. and christian, you are shaking your head. it was highly regulated coming in 2008. and tracey pointed out it is the regulation that makes it harder to detect. when the president stands up

and said we have a 1-800 number if you are not getting a fail deal on the mortgage it is a mockery. >> you can get foreclosed on for 80 cents . what do investors think about this. is it too much regulation thrown out against the consumer and that pulls them back from spending. >> you are seeing credit lines taken in. banks don't know what is happen. they sell a loan from freddie or fanny and they get the loan put back on them. the credit crisis. this has zero to do with the credit crisis in 08. you had the crisis but you had some person in a credit rating agency rate garbage and same as a treasury bond and it goes bankrupt a month later. this has nothing to do with financial institutions and

only affects a small group that is taking out loans on a two-week basis. and they argue about the huge interest rates. >> tracey. senator kay bailey hutchinson said this is an agency that has a lot of power and no accountability. does she have a point. >> she is describing every agency we have right now. i am dumb founded that christian used the word efficient and referring to the government. nothing they do is efficient. i get the notion some people might have the wool pulled over their eyes. it takes two titago. everyone else signed on the doted line and they should wake up and read the words above the doted line. you don't are need a government to dictate what you think. >> that's what the bureau was going to do. make sure the principle mission to make sure consumers

are educated. >> yeah, but you and i know that never happens. >> tracey, financial institutions should welcome it. quite frankly your legitimate financial institutions you make sure people understand what they are doing. >> you don't need an agency to do that. >> you don't? it happening already. >> no. >> we are living in a world where banks and other shadow banking industry are fair and up front about what they were charging. >> but, but. >> let christian finish. >> was that the way it was? it is not created in isolation. this is dealing with real life situation. >> and john lay field in all fairness. we had a financial crisis and the banks had their hand in that and fair point to have a back lash. but the concern they will go too far to the other part of

the spectrum is that a concern. >> christian, you are right about the bankings overstepping the bounds. did you have everything in your tool box to handle the crisis. they will tell you yes. but they did not enforce the regulation. this director is dealing with pay day lenders. that's where these people are. you take a loan out for two weeks and write them a post dated check and they charge 16 percent. and takes 20 million people. . >> wayne, you deal with that every day. is that a fair assessment? >> no. the problem is fundmental. and as i said it starts with the dodd-frank bill itself. it should be thrown out. you can't regulate and it should be competive. go back to the bill cancelled in 1999 and resurrect that and allow competition to control this, you wouldn't have the problem at all.

>> wayne, you are in the same boat as christian then. >> not better regulation. you need competition. not regulation. >> cheryl there is estimate that every federal regulator costs 70 private sector jobs. it doesn't come free and the economy pays the cost. >> guys great discussion on the issue. take a look at this. no, these overly excited people are not celebrating new years. they found out neil is recovering the primary in new hampshire. it is the biggest names in politics and don't miss fdn and only network giving you live reaction and america's most influential political players and neal is back at it on the 21st of the january .

the showdown in south carolina first here on fox news and watch it and profit. coming up next on this show. forcing kids to apply for college. how is this government plan threatening to send unemployment way up. and ready to flip over a new plan to rescue home prices. house flippers getting money to flip even more . it's a bit like asking if they want a big hat... ...'scuse me... ...or a big steak... ...or big hair... i think we have our answer. geico. fifteen minutes could save you fifteen percent or more on car insurance.

>> >> call it force. edation . a new bill in the district of columbia require all to apply to college before they graduate. it is supposed to give them a leg up. critics of the plan say we need skilled labor workers.

getag a job in the labor market doesn't require a college degree or graduate degree. it requires that you study or skilled in something that is useful in the economy. the days of just having a college edcadings and that making you well suited to a job is gone. we have needs for workerings who have areas of proficiency in expertise. and telling them to go get a degree is not necessarily e path to success. and there is going to be a need for people who have skills and abilities that you don't get in challenge whether master electricians or people with certain technical skills. this goal or this plan to force everybody to go to college is misguide will not help the labor market at all. john, unemployment if you

don't have a degree who will hire. >> those under 24 with a college education and it is three times as high. you can tell people with generational issues. poverty and low income. you have to break the cycle miles per hour and that is options. these kids don't know they have options. this forces kid toz apply to college. i disagree with that. christian, you are right. idea is good and execution is poor. making these kids have to take the s.a.t. and act, that is the only way you break crime. >> some schools require that. and they will be reevaluate force them to go to school makes them better themselves a bit. >> i don't think forcing anybody to do anything ever works. you have to make it

invitational and attractive. you need kids. kids who don't necessarily need to go to college to get an education about something. steve jobs, you know suddenly go to a graduate school. you have to force people to do things? number one that is bad and number two, the need for certain kinds of educational processes is not necessarily generated in college. there is start up nation about israel and how israel get to what it has done. that is a good guideline of what we should do. >> it is a great book, i read it as well. >> tracey, the councilman is the first to come up with this. does it apply while you are in high school? is that so bad to apply in college? >> you know what, maybe i have three who are in school at the same time. having them pay for it. you have an application clause it is not free to apply to

college. you have to pay to go to college . maybe it is society's fault and our fault that we make the harvard grad seem to be smart yer better and productive person than a person who has a skill that did something. last i heard harvard grads come out as liberals and bashing the economy. maybe we need more steel workers and make them feel that they are actually adding to society. >> johnathon, on fox and friends we talk about jobs. a lot of them are engineer it and software development and that is a specific field of training. that point could be made here. >> of course, and i think to the panel's point, there is a massive misperception that the college degree is a value everyone needs to pursue. what about steve jobs or

president andrew jackson didn't go to challenge. rockefeller didn't go to college . halle berry didn't go to college. >> that is a good example. >> i think she is successful. >> she is hot. >> and let me make a moral point which is correct. freedom ends when force begins a burrcratic official say i am forcing you to go to college. check out their own high school with a 43 percent graduation rate. that is disgusting. >> johnathon, you are talking about them going to college. a program in bermuda. >> john. that is not true. >> we talk to them and help them plan a career. they are stuck in generational levels of low income and stuck in levels and they are stuck if you don't help them out. >> there is your entitlement

speech. >> all right. you have to start before you get to the college application process. it comes from educating people from the early stages. >> parents as well. coming up everybody. they were partly to blame for the financial collapse and now government backed loans will help property flippers. we may all be flipping over thisem ♪ flipper. faster than lightning. no one you see. one-on-one guidance to help me choose my investments. not just with my savings plan here at work. they help me with all of my financial goals. looking good, irene. thanks to fidelity, i can stay on topof my fi? good one. why, thank you. whether it's saving for retirement,

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>> hello eeverybody. il am uma in washington. republican presidential hopefuls prepare for back to back debates in new hampshire it is safe to say the candidates will clock out front runner mitt romney off of his pedestal. and penn state replaced jopaterno who came under fire after an assistant coach was accused of assaulting children . a texas teen back with her family after she was mistakenly deported to columbia. she is not columbia and does not speak spanish. she lied about being an illegal and later deported. we'll hear from her family on america's news headquarters and your headlines coming your

way. stay with us. trying to flip our way out of the housing crisis. they will give them government backed loans. critics say it is a bad idea. why do you like this? >> it is simple. you have a rim defense. simple western st. -- there is a problem with it. and anything to incent vise people to have the homes. and this workings. somebody is taking that home and refurbishing and rebuilding it and back on the market place.

this is inventory off of the market. >> flipping has a bad conotation from the early 2000s when we were in a housing bubble and flipping was making prices far exceed the homes valley. we are in the middle of a severe housing crisis and you can get homes that are sitting there abandon blighting communitis and get them to be attractive to sellers and buyers it is a wonderful thing for the economy. >> is it a message that is deceptive. >> christian cracks me up. he's against speculation unless he want to boost up the value that are too cheap. >> it is not speculation when the asset is sitting idel, johnathon. >> i will make the point that in a free market system the free market is the incentive. you don't need another government program to get

people to act in a manner in which they will not normally do. we need the government out of it. >> tracey what you do. >> it is removing the government program . getting them. christian is right here. >> and incent vising. let them flip all of the power get in and get out and back on the markets for regular consumer. >> wayne and christian are right. if you canny sell it. government insures it by fan yefreddie. they have spent 151 billion. it makes more government exposure. >> 42,000 loans, guys. christian dorsey, thank you for joining us. >> coming up gender and jobs. more and more men now filling positions normally held by women. why is the female saying it is great news for women and america.

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>> taking the yobs. and are working again. >> i don't think i want some man helping me in the brastore. >> he's right. i have applied to several and never taken me. i don't know why. to heck with morals about gambling. they are starting to have on line poker and next on line gambling. it is a big reward.