charlie. breaking news. gasparino. furious they couldn't stop it white house officials are scrambling to down play the downgrade. ed henry on what's happening behind the scenes right now. already got one downgrade. is senator harry reid sort of asking for another while ronald reagan's top money man art laugher, is he worried, very, very worried and he is next. [ male announcer ] to the 5:00 a.m. scholar. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years, we've been inspired by you. and we've been honored to walk with you to help you get where you want to be ♪ because your moment is now. let nothing stand in your way. learn more at keller.edu. >> neil: white house correspondent on the phone with the latest. what are you hearing. >> you are right. there was a behind the scenes struggle yesterday afternoon and evening where the treasury department was as charlie was alluding to trying to point out to s&p you have a matt error here and overcounted $2 trillion in debt that the white hous

to charlie gasparino. >> why dwell on the negative. >> neil: like the big elephant in the room. >> bury the lead. this is the most telegraphed downgrade in the history of downgrades. i covered municipal bond market early in my career, corporate finance for a long time, i've seen how s&p and moody's deal with issuers of debt. they signaled they were going to downgrade this two weeks ago. they said cuts or else. >> neil: moody's said the same then backed away. >> moody's did not say the same thing. when these guys go out publicly and say with it a press guy on the record then you know they mean business. whether this has a market impact that is the big question. >> neil: when moody's early on they tried to walk it back. >> nobody was more adamant than s&p. >> s&p was in this box. you think had they made it four trillion, s&p would not have done this? >> yes. there's a little politics on this i think they boxed themselves in. they didn't want to do this. the fact they came out so heavily and said if you are trillion -- >> neil: you are right. we talked to david about in. >> everyone will p

>> neil: a ll >> neil: r as charlie gasparino reported all eyes monday morning on the u.s. markets. what will be remarkable the two markets we are watching. we focus on the stock market, as we rightly should. my next guest says there is another market to focus on. perhaps for your money far more important that would be the treasury security markets, interest rates are decided. former vice chair of goldman sachs joining us robert kaplan. you are looking for a bit of a dichotomy, right? >> i think in the treasury market people may be surprised how little reaction there is monday. the reason is people will still want to own treasuries we have a slowing economy which may drive rates down. >> neil: that's the best thing going for us. >> i'm afraid this downgrade may not have a market impact but it will have a psychological impact particularly on the household sector. if you are thinking about spending and you see the u.s. just got downgraded people are going to be inclined to wait. i think we still in the middle of as we talked last week, this revaluation of the stock market. we have to

charlie gasparino will be with us to explain it all.nd did congress in washington really make that debt ceiling deal to avoid a downgrade or was it to get re-elected? there's much more for you tonight on this special edition of "huckabee." glass you are with us tonight. let me say that after friday night's news that standard & poors had downgraded our credit rating for the first time ever, there had been a scramble to understand and interpret it. now the news came after the rather tepid jobs report that showed a slight down tick in the unemployment rate. gosh, even that was stained by revelations that it was largely because so many people have simply quit looking for a job. maybe that's not the entire story. i mean, in a week of bleak economic news, president obama celebrated his 50th birthday with a $35,800 a plate dinner in chicago. then he blew out the candles on the cake in the walls of the white house with a star-studded bash featuring stevie wonder, tom hanks and a lot of other a lifters from hollywood. given the hard times, and s

charlie gasparino reporter all eyes monday morning on the u.s. markets. actually it's tomorrow afternoon as you think about it take a look at future trading and trading in asia. but, what will be remarkable are the two markets we are watching. i know we focus on the stock market as we rightly should. my next guest says there is another market to focus on. perhaps for your money far far more important. that would be the treasury secretary markets, sort of interest rates ultimately decided. aren't they? the former vice chair of goldman sachs joining us now robert caplin. you are looking for more of a bit of a dichotomy. >> i think in the treasury market people may be surprised how little reaction there is on monday. the reason is people still will want to own treasuries and we have got a slowing economy which may tend to drive rates down. >> neil: that's the best thing going for us there. >> the reason rates are lower is a little disturbing. i'm afraid this downgrade may not have a market impact, but it will have a psychological impact, particularly on the

charlie gasparino from fox business network in our studio. he's coming to the curvy couch. >> outrage over arnold's outfit. does that shirt say i survived maria. what? [ male announcer ] heard this one? listen to this. three out of four americans don't get enough vegetables. so here's five bucks to help you buy v8 juice. five bucks. that's a lot of green. go to v8juice.com for coupons. you can count on us. not only kills fleas and tick it repels most ticks before they can attach and snk on us. frontline plus kills but doesn't repel. any tick that isn't repelled or killed may attach and make a meal of us. [ male announcer ] ask your veterinarian about k9 advantix ii. but i did. they said i couldn't fight above my weight class. but i did. they said i couldn't get elected to congress. but i did. ♪ smetimes when we touch ha ha! millions of hits! [ male announc ] flick, stack, and move between active apps seamlessly. only on the new hp touchpad with webos. >> welcome back, every one. 14 minutes after the top of the hour. yesterday as the dow dropp

charlie gasparino. alal as charlie mentioned as the dow started dropping president obama took to the microphone to address the nation for a bit of a pep talk. >> markets will rise and fall, but this is the united states of america. no matter what some agency may say, we always have been and always will be a aaa country. alisyn: well, that speech did not have the intended effect, when the president spoke at around 2:00 p.m. eastern, the dow plummeted even further. so was it something the president said or did not say that sent the market diving? we're going to talk about that with our financial experts throughout this hour. bill: meanwhile, overnight, watching europe and asia, doubling down on this global selloff, hong kong's hang seng tumbling about 6 percent, tokyo's nike cea, average, falling about 2 percent in markets overnight. >> it's a complete meltdown, it's like the financial crisis or the financial tsunami. there is a complete loss of confidence. bill: economists blame ago double whammy on the d

we'll hear from neil cavuto, charlie gasparino and gerri willis throughout our show to help us understand this. bill: and all of this a very unhappy birthday president for president obama. how did the white house react to what happened yesterday? here's the press secretary, jay carney, well before the 500-point close when the dow was at this point when the question was asked, the dow was down about 300 points. >> stock market took a steep dive today which, i'm sure, you saw. any reaction to that? >> well, no. i don't have a specific reaction to the market. markets go up and down. bill: all right. now, president obama was going to -- well, he'll speak later this morning. in all likelihood, he will address the jobs picture, the economic picture, the jobs report that came out. is the white house doing enough? how many more bullets does it have in its gun to fire at this economy? our political panel weighs in on all of that. a great debate coming up for you, fair and balanced w a great team here on "america's newsroom." alisyn: is this double dip recession we've been fearing? some economists

charlie gasparino, charlie -- sandra smith, thank you very much. bill: i love it when they disagree. alisyn: you're in the right place. bill: i don't like when they say you're right about that because the mix of opinion is reflected in what we've seen in the past week. you asked them about the politics of the economy and last night debate, who do you think won last night? and 3000 votes in 30 minutes, at the moment, online, fox news.com/america's room, 50 percent of of you say newt gingrich won, ron paul, mitt romney, running second and third. you have all eight online, cast your vote. we want to remind you, this is not a scientific survey. we're just trying to get a measure about what you're feeling out there. you know, we can be spammed by some of these campaigns. alisyn: we can, but it also is a good measure of today, a snapshot of this morning, how you're feeling. bill: anecdotally speaking. alisyn: we look forward to hearing more. >>> their crime spree finally cashed out but not before four bandits led police on a high speed chase that ended w

we're about to tell you. >> fox business network correspondent charlie gasparino is here.ood morning, charlie. where are we going with this? we were talking before. is this going to be a long, long ride in terms of up and down, up and down? >> yes, i think so. if you combine the fact that you have european problems and we'll give you an idea of why that hit markets here, combine that with the fact that the u.s. economy is not doing very well. the fed put out a report the other day that said it's not going to do well for the next two years, put that together and the markets are clearly on edge and they're trading off of every single headline which is really interesting. >> so you've been studying this for decades. >> thank you. >> not that i -- >> and i would say the same thing about me with other things, ok, we're all in that age bracket but because of that experience that you have, has the economy become more global recent or has it always been that way? why are we affected by it? >> i mean, it's much more now of a global integrated economy and it's a great econoquestion

he's opening up to charlie gasparino on fox and telling him he's working with business. >> business ethicse crazy claims that madoff is making. he's known charlrl for years. he interviewed him when he was a prominent businessman but charlie was surprised when he received a collect phone call from the federal penitentiary. >> his voice is the most amazing soothing voice you -- >> really. >> you feel like you're talking to your uncle. your nice rich uncle who is a nice guy and, you know, you don't feel like you're talking to an arch criminal. >> so began a six-week-long process. an occasional phone call and he says he was trapped into the greed of others and wall street corruption is an everyday occurrence. >> this side of the story is pretty simple. it's, listen, i was kind of victimized too. i was part of a racket which is wall street. and, by the way, my clients all knew i was ripping people off and, by the way, they were forcing plea to do because they had such high expectations. i'm kipdz of a victim too. >> what is his state of mind. >> it's got to be delusional. he says things so pate

fox business senior correspondent charlie gasparino is here. >> i'm starting to agree with obama, i can'tt. where are you going to put your money? which nation has a debate about the debt cap? what nation is going to make the decision in the couple of months or next year and decide we're going to go either way. we're going to raise taxes to pay this off or cut stuff. it's either going to be republican or democrat and we'll have a clear direction and you look at the alternatives, there ain't much there and you know the president is right. when you think of safe havens and think of one place in the world, the strongest army with tremendous wealth, people forget. this country has tremendous wealth. we have problems. we have to deal with those problems. we can pay this down. this is not an intractable problem. right now, we have gridlock in terms of fiscal policy in washington. it looks messy. sausage is made, it always looks bad. >> true. we had this debt problem for a long time. he makes a good point. you cannot be triple a when you have $4 trillion in spending but $2 trillion in revenue. h

you have other people charlie gasparino coming up later, this sun precedented, we don't real little know, can't say definitively that everything is going to be okay, that the markets are braced for this. what do you think about that. >> rumors were flying around in the market on friday. we have been seeing a real downdraft. we lost 1.8 trillion in market stock value, you know, since this plunge started. so, you know, will it rock the markets more? we have got the watch the asian markets and how they open tonight which will be covered live on 9 to 11 on fox business. >> what s&p is, john chambers is the man we have heard the most from. he spoke to neil cavuto. is he speaking out for the most part. who is this man? we have a look at his background. >> he looks like a serious guy, don't. >> you not an economic professor by any means. he is a graduate. we're not tearing apart anyone's college but college in iowa. b.a. in literature and philosophy. i find that interesting. not a business guy. had a masters from very great school columbia in english literature. why is this man, why is s&p qual