nina, we just heard rich edson say this is basically a repackaged proposal.t does bring down the corporate tax rate. what is your problem with this proposal? >> well i think it's a good idea in general. we've got $2 trillion in cash sitting overseas. the idea of wrestling with policy, tax policy on how to bring that money back here, to invest in jobs, to invest in companies here in america, that's a good place to be and a good place to start. the problem with this proposal it goes beyond sort of revenue neutral cutting of the corporate tax rate which would help do that and bring some of that cash back. and it goes beyond that to say, let's couple this with a government increased government spending essentially. increased government spending on infrastructure. increased government spending on things like job training. by the way we already spend $18 billion a year on job training and the gao, general accounting office said this stuff doesn't work. why don't we go back and fix the programs that we're already spending money on? ashley: it is interesting. i was r

rich edson down in washington. take a look at this.resident obama's approval rating dropping to just 45%. ron christie is a former assistant to george w. bush joining us from george w. bush. no harm, no foul. >> i think that is right. the american people expect their president to lead. this president has spent his entire term in office blaming people. the american people have put in a representative to be responsive to them. dagen: what is happening now? his centerpiece legislation is coming apart at the seams. it is not working right now, particularly with the one-year delay. can the president do anything? i also point out again, cutting full-time workers or reducing people's hours below 30 hours so they do not have to worry about the mandate. this is a travesty. >> we need to pass the bill. we see it is crippling businesses. part-time work seems to be the norm. we have fewer people working today than when the president came in office. i think it is frankly disruptive to our economy rather than getting it back on track. i think republ

rich edson is following that story. jason is on the floor of the new york stock exchange.he floor of the cme. tell us of the middle east turmoil is impacting oil prices. first, over to you, jason, the floor of the new york stock exchange. was stuck out to you? >> you know, business as usual. you know, the trend is your long is the way to go. after the fed the spooked, it seems to be business as usual and we're continuing with this upward bias which is probably the right course. cheryl: does this mean that the fed is most likely going to taper? is that already priced into the market? >> i totally believe that is the case. again, what happened two weeks ago was really quite shocking. i'm sure to most people. telegraphing what will be happen for a minimum of 12 months. and it was actually quite disturbing to see how the market reacted. you get that. cheryl: okay. right now again we are close to session highs. the low. down 17. a little bit of volatility. low-volume. we were expecting that. let's set over to the cme off. the same thing to you. one of the things and we looked a

liz: rich edson, thank you very much. david: thanks, rich. a day of high drama.eholder vote, nobody expected, his michael dell's buyout deal dead? who is the winner and who is the loser? we have someone that advises dell share holders what to expect next and he will weigh in. liz: a heat wave brings scorching temperatures to every city in the nation. we have a ceo of one stock that is sizzling over the past year. we have pools corporation ceo and president. he joins news a fox business exclusive. has pool construction kept up with the housing market? she's always been able to brighten your day. it's just her way. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the me cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual act

dagen: thank you, rich edson, down in washington.ob mark, a 30-year aviation veteran, flight instructor, former supervisor, air traffic controller with the federal aviation administration, now the publisher of jetline.com joining us on the phone. rob, good of you to be here. my dad's a lifelong pilot, and i, of course, talked to him on the phone this morning, and the reaction from him and other people has been this looks like pilot error, and it looks like what would be a rookie mistake. what do you say? >> caller: i think your father's a smart man, as a matter of fact, dagen, and, you know, having been -- thank you for saying i've only been around for 30 years. it's been closer to 40. i appreciate that. dagen: you're welcome. >> caller: seriously, this is shaping up as pilot error issue, and i really predict this will be a big a water shed issue for pilot involvement in the, you know, in the cockpit as the air france crash was for just the technology alone because it -- there just doesn't seem to be any reason why this aircraft got

rich edson, thank you very much, good to see you, rich, appreciate it. >> thanks. to talk with the pilot in control of the air asiana flight as it crashed into san fransisco saturday. we dail -- we have details coming up in your fox news minute. we'll be right back. ♪ my mantra? always go the extra mile. to treat my low testosterone i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prtate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all dical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts;

rich edson. why are alaska air group passengers walking on air?, perhaps, the carrier has taken jd power and associates top spot for customer satisfaction among traditional carriers. and this for a remarkable sixth year in a row. but guess what? the shareholders are also walking on sunshine. alaska air group's ceo and president joining me now in a fox business exclusive live from seattle. good to see you, brad. honestly, so nice to start a story like this about airlines. yesterday we had spirit air, they've got a great story to tell, but you, you're adding routes, you're adding capacity, i'm assuming business is really good right now. >> business is good, liz, thank you for noticing. one of the things about alaska, we're a little smaller than most of the airlines, we're about 3.5% of the u.s. industry, but we have fantastic people, and we do try to operate reliably, and we're gratified by that recognition. liz: jd power, but you've also gotten all kinds of satisfaction reports, number one in on-time performance. the impression is, though, that cus

liz: okay, thank you very much, rich edson. david: thank you, rich.book continues its pop after-hours, it is now up 20% after-hours at $31.60, visa has reported. jo ling has details. go ahead, jo. >> we have solid beat. beating $1.79 for eps. it clocked in at $3 billion in revenue beating the $2.8 billion revenue. what is interesting in the earnings report, second quarter net revenue was up 11% which is very solid. they cited strong international transactions particularly where they're trying to grow in emerging economies. the payment volume growth, dave, was up 13%. and their service revenue was up 7%, toso good news for visa. they continued their, their stock is up actually about 2.5% right now. and looking towards the end of the year, dave, the financial outlook is 13% for the rest of 2013 for their revenue growth. david: very good. jo ling, thank you very much. >>> so why did chinese censors dislike tiny little minions of despicable me? one of a series of moves -- movies getting a thumbs down from chinese officials. can tinseltown survive without

jon hilsenrath with "the wall street journal" and fox business's very own rich edson.hould say you have so many breaking stories on this issue all the time and they're always on point. let's get right to the leadership here and are we right to say, because all the articles say it is either janet yellen or larry summers are we missing somebody? let me come out on that one first. >> that is a really good question. this story has gotten so hot this week. there is a possibility that the two blow each other up and some third candidate comes in and gets the job. when we've been write about this we've been talking about there are other people potentially on the list. one guy to look out for is tim geithner. another guy names roger ferguson who used to be the number two at the fed. right now it is really yellin and summers i think we have to keep an eye on. david: isn't the summers pick kind after feint, jon? seems janet yellen is so much more obamaesque in her extreme dovishness. larry summers kind of queasy about the whole idea of continuing qe much longer. he is known as so

rich edson from dc with more on that. what's the deal, rich?another layer of confusion to the economy with workers and what they post on line about the jobs. the national labor relations board general counsel's office is examining a case involving giant, a grocery store chain. they established rules against workers posting pictures of the company's logos and other information. the general council's office fines, quote, the rule prohibiting employees from posting information regarding the employer that could be deemed confidential or nonpublic is unlawful. the term is so vague that employees reasonably construe it to include subjects including working conditions, and now businesses have a difficult balance to strike. >> if the employee is bashing his supervisor in front of hundreds of thousands of individuals including co-workers because of the way he's treated at work, the nlrb says that's protected, and you can't fire that employee. if, on the other hand, the employee is bashing the product advising people in the public not to purchase that pr

liz: rich edson joins from us washington, d.c. for the late left. not enough for the people to say, you have to stop the cyberattacks, right, rich? >> the big economic news, perhaps a way forward for more american companies to sell more american goods in china. the announcement of a beginning of negotiations on bilateral trade treaty. jack lew was announcing a few moments ago a bilateral treaty for the united states is priority and opening markets for fair competition. the commitment made today, stands to be a significant breakthrough and marks the first time china has agreed to negotiate a bilateral investment treaty to include all sectors and stagings of investments with another country. now they have not agreed to that they have agreed to begin negotiations on that treaty and that should be beginning sometime soon. when you look at cyber theft, though, the u.s. says china basically began to make the case, when you look at revelations of nsa spying program, china tried to tie the two, comes to cyber theft and stealing of intellectual property. u.s

>> shepard: rich edson in d.c.r convicted of killing michael jackson has now warned the pop star's family and his former concert promoter that he will drop a bombshell about the singer if they continue to try to get him to testify in jackson's wrongful death trial. that's according to the reporting of tmz. the site reports dr. conrad murray gave that warning in a scathing voice mail he left for a friend. remember, jackson's family is suing the convert promoter agency live for $5 billion in damages over michael jackson's death in 2009. tmz is reporting in that voice mail murray says, in part, consider this an imminent nuclear warning, enough is enough. i have no further tolerance for lies, your deception, nor your insosolenc if your calumny persists none of you will have to guess who is coming to dinner. this time the courthouse. it's time to tell the truth. be honest. michael had severed all relations with exmembers of his extend ited family before he passed and explain the reasons for this action i bet you won't d

rich edson is in washington with latest?ial defending the administration's move, delaying one year the obamacare employer mandate. it requires at least businesses with at least 50 employees working at least 30 hours a week to offer health insurance. if not they pay a penalty. the republicans say the government should expand the obamacare delay and push back the individual mandate that is a provision requiring almost over american to have health insurance. they say it is a matter of fairness. >> in less than a year individuals who fail to purchase government approved health insurance will be forced to pay higher taxes. it isn't right, mr. speaker, to deny american families the same relief available to american businesss. >> this vote is a nullity. does nothing as a matter of law the fact of the matter we're filling up more time here. >> this afternoon the house will vote to delay these obamacare mandates for a year. they're expected to pass though this legislative effort likely ends there. democrats control the senate and the

lori: rich edson, always a pleasure, thank you. speaking of fed presidents, our own peter barnes has the first television interview with esther george, but more famous for being a dissenter as of late to mr. ben bernanke. don't miss that exclusive here on fox business. the s&p 500 headed forward 20th record close this year, but the next guest is raising cash, he says, for the first time this year, and says you should, too, ahead of what could be a 12% pullback coming soon. jeff, chief investment strategist joins us now, and, jeff, great to have you on the program. you're pin pointing this, why is that? >> i'm talked about target dates, deriving quantitatively and timing models for the last month. i targeted a timing point for july 19th, sticking with that. there's a lot of things coming to the from a backdrop that could be the trigger event, the fed speak on the 17th and 18th, and you got, what i think, will be a disappointing revenue season with second quarter revenues and earnings coming out and you'll hear before the congress ad

we have rich edson in washington covering this. we also have greg in cairo. >> hello.armored personnel. we have heard gunfire in the past couple hours. we have heard the wail of sirens. violence, violence once again in the heart of cairo leaving several people dead. their deposed president is now being held by the authorities. just a couple days ago, there was what some people are calling a military coup. today, people are fighting. they are angry. they are speaking out. we have heard as many as three people have been killed in clashes with authorities. we are seeing protests, rallies and clashes throughout cairo. in fact, all around egypt. one soldier was killed and they will probably get more angry here, at least the pro- morsi people. so far, at least right in here, it is quiet. this is where the anti-morsi people have been gathering. huge numbers in the past couple of days. it is those huge numbers, those huge protest that allow the military to stage what some people call a coup. one final note, again, about two years ago, 2011, we got a real taste of the violence

thank you, rich edson. cheryl: the fox business or time showdown.esult of the monthlong stock plays, this friday we will say goodbye to rob morgan or jim fritz lang and they have more than their reputation on the line. >> this is rob morgan, chief investment strategist with fulcrums society in philly. i bet philly chief picks yours. i am so confident that if you win i buy you two. >> looking forward to summer time showdown, rob morgan and i accept his challenge and i will match it with new york's best pizza. cheryl: philly cheese sticks versus best beat the. loser pays up, got to watch the show down, thing to see who's pick. dennis: what is bugging me? food stagnation, temple larry fix or dangerous addiction? still time to tweet me your answers. we will read some of the coming up. cheryl: wall street focusing on apple, those results coming "after the bell" today but is the iphonemaker going to be a home run when it came to iphones? a full debate coming up. dennis: tv station, you heard that right, pixels for puppies. the c e l of dog tv is ahead. (a

dennis: rich edson is live in washington with the details. rich? >> senior g.o.p.table right now, top democrats and republicans are talking to ranking file members to see if it's acceptable to them, but, basically, democrats have been complains that republicans were not moving, and the president's nominees fast enough to the u.s. senate, proposedded to change the rules to lower the threshold to get nominees through, and the way forward on this they discuss is president obama would send two new no , nominees up for te national labor relations board, and the two nominees now are the same two he appointed in a recess appointment. the court said they were invalid. republicans want the nominees out with two new nominees in. they agree to do that, democrats would agree to take the rule changes off the table, and we'd have a crisis averted. it's still going through the members, not sure if it's getting through now, but that's the plan on the table. if it's agreed to, we averted this one. back to you. dennis: thanks, rich edson. cheryl: nicole is on the floor of the new yo

richard edson live in smithfield virginia.nese companies attempt to haveb÷ takeovers but you believe this one will go through as the first of many? >> when you look at it, the questions are in the treasury body to decide whether or not there is any type of harm to national security. that is hard to imagine it will harm its i directedqk that question to william and mary's school of business professor do you think it could be held up or it is in any danger of falling through? is it a done deal? and what is a threat to national security given access to secure documents to tap into infrastructure to cause a problem in the supply chain but i am not thinking the hog market fits into one of those categories >> one of the largest acquisition of a chinese company of the american company, more to come? >> absolutely. this deal is so important but not for the deal itself because it pales in comparison size wise to many others that have been done recently. look at anheuser-busch a couple of years ago it was 10 times the size of this. but

rich edson has the latest from washington. how is it shaping up?ich: the house is said to bill a mac boat onto bills. the president has already agreed to push back one of those mandates, the ministration is it will delay for a year a mandate requiring businesses release t mac with at least 50 employees to offer their workers health insurance. if not they have to pay a fine. republicans if the white house is open to delaying that manda they should suspend the individual mandate requiring nearly all americans to have insurance. republicans say it is only fair. speak it is deeply unfair to subject individual to mandate they can either comprehend nor afford good tod we are fighting for fairness but we will continue the fight to completely stop the train wreck. spiegel i'm so sick and tired of the time house republicans continued toait on the anti-obamare message. repeal, defined, otruct, you pay e tactic. our country has pressing issues we should be addressing here today like writing student loan rates, but it issues or jobs bill. if the republicans in

rich edson on capitol hill with more. hey, rich. >> a bit of a homework assignment if you will.ts, senate democrats, all of congress heading home after this week for a month-long recess. they will have to talk to constituents, do a number of interviews on home. democrats are getting on message, republicans are getting on message. if you listen to house and senate democrats speak after meeting with president obama this afternoon they were told by the president we've also been told by the president over last couple days. themes like job, middle class, growth, all of those themes popping up in the readout we got from a number of democrats after meeting with the president of the united states. there was also some talk about who president obama may select to replace fed chairman ben bernanke and possibility your chances that it may be larry summers. >> he has a long list of people he's talking to. and he indicated that there's not a, his words, not a piece of paper difference in all of them. larry summers is a long-time friend of mine. i like him a lot. i think he is a very competent

rich edson has the story. after weeks of focusing on gun control and immigration, president obama is heading back to the midwest to push his economic proposals to replace some of the government spending cuts and increase this. on thursday he goes to jacksonville, florida to push congress to enact his proposals. >> we still have a long way to go to restore this. too many families are fighting to rebuild. if we move forward with the eyes fixed on the growing middle class, i am confident that we will get to where we need to go. reporter: administration says that the president will outline steps that the congress and private sector can take to improve the economy. president obama is getting ahead to a fall season of budgeting price. adam: rich edson in washington dc. thank you so much. lori: one thing that is boosting the economy is the fastest growing oil and gas producing industry. so this weekend, tracy byrnes and ashley webster will be doing this segment. >> it is a real key on how to make money. today we are

rich edson at the white house. lot of people saying it was a campaign speech. >> well, tracy this is the beginning of an economic campaign. by the time the fall rolls around which is right around the corner there will be major economic policy fights here in washington. government spending authority runs out at the end of sent. then of course, which will be more difficult fight, the one over raising the debt ceiling. that is sometime in the middle of october or the middle of november. president obama, framing his economic arguments, basically, with broad economic themes talking about a number of proposals that he has had here in washington over the last few years. and he says when it comes to congress, that republicans need to change their views. >> and if you some of these folks, some of these folks mostly in the house about their economic agenda, how it is that they will strengthen the middle class, they will shift the topic to, out of control government spending. despite the fact we've cut the deficit by nearly h

good to see you but now with a rich edson with congressional hearing on the very subject. >> good evening. more than $300 million lost in 2 milion jobs badly in need of the upgrade one says the bulk of cyberattacks are schemes it successfully because businesses are not investing in the right defense. >> sometimes they spend ney on the wrong stuff and sometimes they don't want to know it can affect their stock price so there is a whole set of incentives varying from sector to sector. >> u.s. government gets another chance to raise this with their chinese counterparts but in a letter to the administration the top democrats and republicans are urging officials to press the chinese government to say we hindustan much of the activity is carried out with the support of a chinese government. of theft of proprietary information to undermine the economic relationship is unacceptable and must stop. alough it is somewhat weakened given revelations of the surveillance program program, no one other point, analysts say when it comes to cyberdefense there is no nation more vulnerable than the united sta

rich edson is in d.c. with details. boy, this is a moving time bomb, isn't it? looking at now is perhaps a deal in the works that in the end we would have a functioning national labor relations board. it is not final. senators are reviewing a plan that would prevent any changes to senate rules. under that plan president obama would withdraw his nominees of sharon block and richard griffin to the national labor relations board. these are the same two he named as recess appointments. a federal court later found those invalid. that case is still working through the courts. under this agreement they haven't quite reached yet. republicans would gift president the opportunity to put two new names forward for the new nlrb nominees. they would get a fair hearing. this all deals with president obama's nominees to fill positions like lake bore secretary, director of the consumer financial protection board and members of the nlrb. democrats argue that republicans are holding up the nominations preventing the administration from fully performing its job. they're threatening

rich edson has the details from washington. get a briefing at the bottom of the hour which is expected from san francisco. investigators say they're focused on the crew. the black box and recorders are in the washington area. the national transportation safesafety board says the preliminary data says no alerts of mechanical failures or distress calls from the crew. instead the ntsb says the boeing 777 came in too slowly specifically below the target speed of 137 knots. it tried another pass but failed. the plane crash understood the run way resulting in two dead passengers. the ntsb post-traumatic stress disorders that the investigate is in its early stages though the focus is on the flight crew. the pilot has nearly 10,000 hours of flight time though less than 50 hours in those boeing 777. >> we are hoping to interview the pilots. there were four pilots on this flight. there's a crew that flies out. there's a relief crew because it's a long trans-pacific flight. so we do want to interview all four of those pilots. we want to u

first, fox business rich edson, god bless his soul, stayed late to join us with the latest that of egypteporter: good evening. supporters of ousted president continued to protest and demonstrations are turning violent as reports citing the egyptian government said 17 people are dead as a result. the egyptian economy has deteriorated since he took over last year and this afternoon another downgrade of the egyptian credit rating. in its release they say their is a risk of material deterioration of domestic political stability with downsize risk for economic outcome and creditworthiness. high uncertainty over how their risks resulting from the military cute evolves over the short term and the eventual pathway to a peaceful political transition. among the reasons they said political turmoil makes it more difficult for egypt to achieve its fiscal targets to secure a loan from the international monetary fd. falling government revenues, increased spending on subsidies and salaries rapidly declining currency reserves and economic growth of less than 3%. when it comes to a possible fiscal rescue

ffx business's rich edson is live at the white house with more.here must have been some meat in there somewhere, no? >> well, it was very general and this is the first in a series of speeches and the white house didn't exactly give us a preview of this, making us believe we'd get much knew here. the president did say over the next several weekse would put out some specifics. we didn't get that mu to look at some of the president's proposals from just this speech. he called for green energy spending, infrastructure projects, job training programs, higher minimum wage, all things he called for before. when it mes to inaction in washington he put it on congress? >> i will welcome ideas from anybody across the political ssectrum. but, i will not allow gridlock or intion or willful indifference to get in you are way. >> exactly with will change? what's the point? what is it going to accomplish? probably got the answer. nothing. >> the president is just about to deliver a similar speech in missouri. then tomorrow he head to jacksonville, florida, part o

rich edson joins us now with the latest. >> reporter: good afternoon.the beverage companies say bank-owned warehouses are slowing aluminum deliveries to turn a profit. subsidiaries control a network of aluminum warehouses. cutting back deleries to increa storage fees. brewers say the banks are cleaning up all they are stuck paying more. 60 percent of its beer goes into aluminum cans. the company sayshe increased aluminum price is costing its customers. >> the increased cost that we encourage takes away from innovation and new products, other qualities. >> aluminum costs are forcing them to delay fility upgrades. they deny the existence oany scheme. ey only control 5% of the aluminum market. they delivered aluminum prices. the warehousing system is not driving up the price of aluminum. whether the government should permit banks. currentlyhey are allowed to and the goverent regulates. dennis: thank you veryuch. my vote on that is that goldman is right and government guys are wrong. that is my personal view. with the possibility of beer prices going up whi

dennis: thank you, rich edson.ori: the government cracking down on companies that sue over patents. dennis: beating the heat mortgage rates cooling off thanks to ben bernanke and this week's numbers coming up. speaking of hot, who is up and who's down on the dow. she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you kn, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache

rich edson has more. rich: as the federal open market committee determines when the economy will be strong enough to reduce the monthly bond purchases known as tapering, ben bernanke suggest it could begin later this year as part of the justification the fed chair says the u.s. should see a pickup in growth in part if fiscal restraint becomes somewhat less pronounced, he says. though folks on capitol hill control the restraint and washington will continue its cost-cutting. >> it comes to fiscal restraint at the end of the year there are only two big options. continue sequester, the most likely option, the other would be a grand compromise, a slim chance, but not out of the question. either scenario needs fiscal restraints to stand place for at least another year or so. reporter: the fiscal year ends in september, lawmakers have you figure out how to spend taxpayer money within the spending cash they upset over the last few years. by this fall the government has to raise the debt limit. the latest estimate

rich edson on capitol hill with the latest.ans are still figuring out in the house of representatives how much specifically they're going to spend next year and what exactly to spend it on. to make one thing clear, previewing president's speech, house speaker john boehner said borrowing and spend something not how you build a durable economic recovery and create lasting jobs. when you look at the president's tour and what he is talking about in the economy analysts say this makes it a little bit different with the economic fight because now the democrats and the president are playing hard ball. >> markets and businesses got used to threaten shutdown and default and back down. they're not seeing that same dynamic from the other side of the aisle. now that we have both of those, it will be interesting to see what happens. it presents a new risk. >> government spending authority runs out at end of sent. we're looking debt ceiling deadline somewhere mid-october, mid-november. back to you. ashley: rich edson on capitol hill. rich, t

to fox business network's rich edson. >> good afternoon.s kicking off with a number of economic speeches. part of the focus is on the president's health care law, a defensive obama care, saying republicans need to stop trying to repeal it in the u.s. house, that it is law and they should move forward with it, and if they don't, they should just come up with something better. >> if you think you have a better plan for making sure that every american has the security of quality, affordable health care, then stop taking meaningless repeal votes and share your ideas. in reaction, john boehner says democrats have supported these and several other proposals repealing or defunding parts of this train wreck. and he already signed seven of them into law. there are reporting requirements and long-term care and other changes. look at the poll that republicans are looking at today, cbs news poll showing 36% of americans want to expand or keep the president's health care law, nearly 40% want to repeal it. republicans are going to make this part of their

fox business's rich edson is in washington with the late e. rich, what can you tell us? >> good evening, melissa. after a top irs attorney tells congre, william wilkins department, office of chief counsel was involved in looking at groups for tax-exempt status. republicans notice wilkins is one of two political appointees at the internal revenue service, meaning that the president appoin him to his position. white house visitor logs show wilkins met withresident obama in the west wing on apl 23rd, 2012. two days before a treasury inpeck tore general report states that wilkins office reviewed guidance the irs used to request additional information from these conservative groups. senior administration official denies president obama and wilkins met about the list. the irs louis used to target conservative groups. the official said the april 23 meeting focused on general administrative issues with a cross-section of officials with those from the national nuclear security administration, national fish and wildlife service and veterans affairs and others. republican led congr

ashley: rich edson live from washington with more on this story. rich? >> it is expensive.ate puts the annual cost of cyber threat in more than $300 billion in a economy largely built on intellectual property. commerce department says intellectual property added $5 trillion to the economy. responsible for 27 million jobs and nearly two thirds of exports. and analysts say targeting much of that value, chinese hackers. >> they will steal and reverse engineer anything they can get their hand on. and i've been dealing with them, full-time since about 1970. >> i'm confident that we can, if we keep a sustained effort in place, get them to act differently and in part, it's because they know they're caught. they want to be a dynamic modern economy. you can't do that when you're dependent on stealing technology. >> the u.s. government has another shot to raise this issue with china this week. strategic and economic dialogue is just about to begin in washington. the top democrats and republicans from the senate finance and house ways and means committees are urging the administration

rich edson is in washington, d.c. with the latest. rich? >> we'll have to wait on this one, ashley.rrowing down his choices yet but won't make the call until sometime in the fall. behind me in the u.s. capitol a number about liberal democrats are certainly putting their choice on the table. it seems to be down to a choice of two, if you listen to fed-watchers. one being larry summers andian net yellin, vice-chair and more liberal democrats are backing yellin. this is an effort spearheaded by senator sherrod brown of ohio, a democrat and number of other signatories signing on to a letter saying they want yellin over larry summers. one of the signatories, tom harkin, there are a lot of concerns with some democrats when it comes to summers. jeff merkley, says, larry summers for fed chair that is disconcerting is something he tweeted out. could be a possibility, still at the white house when it comes to larry summers, because of the white house's familiarity with summers is an asset. >> he is a well-known quantity. he worked as the chair of the national economic council in the obama whi

is power in the program, rich edson -- rick atkinson is our get. >> >> caller: thank you for your book. the purpose of my question is there seems to be this extraordinarily sustained, in the interests of world war ii growing up in the 30s i didn't see regarding the civil war level of world war i and i wonder about your perspective as a journalist and historian what factors you attribute to the sustained interest. >> thanks for that question. it comes and cycles. there was an interest in the civil war, resurgence interests in the 89s. certainly we saw resurgent interest with the ken burns series and there is no shortage of history is coming out about lincoln and the civil war and so on so waves of that come along, in the case of world war ii, 70 years more less after the fact, i believe what we are seeing now, of the 16.1 million who are in uniform, 1.3 american veterans are still alive and they're dying at the rate of 800 and day. next year, 2014 the numberil

david: rich edson is in washington, d.c. with more what the fed governor had to say.vid and liz, fed governor daniel turullo said governors are balancing new requirements insuring banks will have enough time to implement them to have a minimally effect on the economy. banks warned that the capital standards could constrain economic recovery. he discussed the bond buying program promising even when it begins to pull back the fed will feature a highly accommodative policy. as for when to begin pulling back, tour rule low says he is looking into sustainability in economic growth. >> the he question i will be asking myself as we come up into the next several fomc meetings. what does the data say about whether the you know lying momentum is enough to say positive growth through this period or to what degree the fiscal constraints risking again that kind of back sliding we've seen each of the last three years. >> tarullo weighs in on a senate proposal to reintroduce glass-stegall that is the forced separation of commercial and domestic banking. tarullo is skeptical about it

ruling will cost them billions of dollars in lost revenue foor banks they are running out of money rich edson have to pay for it? >> well, you know, customers if they spend a lot more money the banks will make it up. they will make it up by possibly cutting rewards programs. free checking. charge more at atms, they argue it's expensive to provide the convenience of those debit cards. that's why they charge stores a fee for accepting plastic. retailers argue customers win with lower swipe fees. they say the less they pay to banks for swipe fees the less they will pay to customers. banks say consumers can foreabout their savings the retailers are just going to pocket the money. back to you. >> shepard: the u.s. and china teamed up for the biggest ever joint crackdown on counterfeit goods. officials say the month long operation seized nearly a quarter million fake electronic products. knockoff of brands like apple, samsung and black bear. black berry. sting netted one arrest. china is finally taking counterfeiting seriously. according to a bipartisan u.s. commission, the counterfeiting cost u.s.

i see it as leftist money printer versus the establishment guy, but rich edson is in d.c.ar more about it than i do. handicap it for us, rich. >> anyone the president picks must go through the senate and the confirmation process. the senate aide says a democrats, many more liberal on the party are signing a letter urging them to select vice-chairman janet yellen. we've not seen this, it fails to mention larry summers directly though, and a lot of democrats are concerned he's too light on regulation and others point to controversial remarks about women and strong voices in his own party and even nancy pelosi pushing yell en, it appears the president would have an easier confirmation process by selecting her own summers, stuart. she's got it. berkley academic, female, she can't lose. what do you say? >> sure, stuart. [laughter] i'm sorry to put you on the spot. i know you're not an opinion guy, but i couldn't resist it. it's friday, it's friday, right, thank you. all right, rich. go back to the news business. >> i've got it. >> wait for it. we're thinking out of the box this