we have charlie gasparino, always enjoy having him. charles, you find this a bit of a pain? >> yeah, i got to blindfold people to bring them to the house. no -- >> neil: that must be an event. >> realistically, you know, this stuff is egregious. there's no doubt about it. but from the super committee's point of view from the taxpayer point of view, this is low hanging fruit. i want them to really get to the real issues here and for me, that would be finding a way, you know, i know we're talking euphemism, revenue raises and all that, cut the taxes for people who earn money, cut taxes for corporations and cut spending. all this other stuff is shocking and it's fantastic, it grabs the headlines but it gets us further away from actually hammering together a deal and the clock is ticking. >> neil: real quickly, charles, we're leading with this. so you know. >> it's important stuff, neil, no doubt about it, it's important stuff but the point is -- >> neil: why don't you just play along? >> ok. >> neil: he does raise a good point. the loophole part, there are a lot of purists amon

stocks are not the only thing taking a hit on wall street, charlie gasparino is learning that the presidents getting some big hits, as well. >>neil: what selling off faster than stocks on wall street? maybe for the president, support from wall street. charlie, what do you think? >>guest: i have never seen such a dramatic turn around in the executive suite. the executives at the major banks, if my sources are right, and they usually are right, will not be supporting president obama this time for president. we're talking about diamond, j.p. morgan, people at morgan stanley, and james gorman. and they are not quite public yet but they are telling people that they are likely to support romney if he is the winner. and this is a 180 from last year. this has been trick trickling out, but the evidence is more interesting than the money because the election has not begun yet. what we are seeing is a dramatic shift among the executives away from obama. >>neil: what happened? >>guest: dodd-frank and the rhetoric and demonizing. the president's support for occupy wall street put them over the top becau

charlie gasparino. >> the investors should be stressed because this hasn't been a problem saving peopleke less money. and you know, the banking business is in difficult shape right now. so mump regulation on it. if you are just an investor, we don't want a repeat of 2008. >> neil: what do they do? >> the first thing that the ned and treasury did was they wanted to check them out. everybody passed basically. they kind of set it up they should pass. this is different. a different regulatory environment. now we have increased capital, probably dodd-frank and a lot of tough going on that the banks have to comply with right now. now you get another stress. it's a stress test in a new regulatory environment. that is why it -- >> neil: do we have a plan if any of them fail? gest that is a problem. i wonder if citigroup has tens of billions of dollars of capital. would it matter? they have so much on the balance sheet at the time. the general consensus among regulators the more capital, the better. investors are saying right now it's going be more capital. banks have to keep. there will be stre

that's where we start with charlie gasparino of the fox business network. charlie, is this another lehman brothers? >> reporter: no, it's not, thank god. this is much smaller firm, much smaller balance sheet. did not have the interconnectedness with the financial community that lehman brothers did. this firm has assets of something like 45 billion. lehman had assets of over $500 billion. so you could see it is a big difference but it's an interesting story. the guy running the firm is a well-known figure on wall street and in washington, jon corzine, former governor of new jersey. former u.s. senator from new jersey. and it does encapsulate some of the problems of wall street. really aggressive, i would say idiotic risk-taking that took this firm down and took it down really quick. as soon as it was exposed to have losses tied to investments in sovereign bonds from europe the thing imploded and now comes the investigation. why did it happen? there's an issue of whether, they obviously did, coming fell some client funds. remember, they're a firm that deals wi

we're going to have more breaking news on what martha was just discussing, charlie gasparino joins us of the investment firm mf global, headed by jon corzine. >>> also conflicting reports on the effects of alcohol on our health. what are we to make of these drastically different findings? we'll talk with a sheriff, as well, who says forget the mace, ladies, go buy yourself a gun! >>> plus the giant trove of gold and relatives, discovered by an amateur treasure hunter. the mystery behind who put all these millions of dollars worth of jewels in the ground, straight ahead. bill. bill: send them our way! >> jon: i wish! wish i had them. bill: that's what i'm talking about! see you in ten minutes, jon. thanks. >>> there is more drama for casey anthony, stunning reflations and a whole new court issue for the woman found not guilty of found not guilty of murdering her daughter. so who ordered the cereal that can help lower olesterol and who ordered the yummy cereal? yummy. [ woman ] lower cholesterol. [ man 2 ] yummy. i got that wrong didn't i? [ male announcer ] want great taste and whole g

charlie gas gasparino joins us. things are not good for jon corzine tonight. >> no.ned they are negotiating with the house subcommittee and there's now a senate committee that's investigating this and they are negotiating his possible testimony. i'll be honest but, you are a lawyer, i'm not, but i can't see him if he does show up other than i plead the fifth because there's a lot of stuff going on. there's a criminal investigation going on. it involves that missing money. it could be as much as $1.2 billion. so this is a serious situation. >> in terms of this, quote, missing money, is it a sufficient pigs it was a really bad investment, trying to buy up the european sovereign debt and that sort of went belly up or is there suspicion somebody has stuffed it in their pockets and run. >> the bottom line, the last couple days of the firm's existence, they had to basically sell stuff to keep solvent. they had to pay people off, other counter parties on trades. the problem is that to do those operational things, what it looks like is that they dipped into money that should