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tv   Cavuto  FOX Business  September 4, 2013 8:00pm-9:01pm EDT

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your retirement. talk to a pnc investments financial advisor today. ♪ neil: forget syria, focus on s&p, you know it is a matter of time before we're at war with that country, but i want to focus on a very real war going on with a rating agency. they are working to downgrade this country, political weapons that are far, far more financially devastating. welcome i am neil cavuto, does this script sound familiar, i could be talking about texas voter i.d. law that triggered a justice deputy lawsuit or arizona crackdown on illegal that triggered a justice department lawsuit, but not a state. i am talking about an
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independent company, an inspect independent company that made the mistake of challenging the white house, now paying dearly, that company, standard & poor's, a rating agents not much different from other rating agents like moody's. companies that botched the financial meltdown, where is this government going after just one sinner? just s&p. neil: to hear s&p tell it here is why, because the firm had odd as --ed on atty on -- downgrade the country. a routine to which we've become accustomed but s&p pulled trigger, now faces a loaded gun. justice deputy said there is no
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connection it reason why it is seeking civil pen ate is because s&p are egregious. investing into securities that were too junky. step back, whatever your thoughts about s&p ask yourself why it is the one being singled out, because moody's and fitch pulled some fast ones but they done downgrade the u.s., did they? texas and arizona got served with federal lawsuits as a result of their efforts. there will be briefs, a lot
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of briefs. for any of all who are of a mind to challenge, the judge said none of this is surprising,. >> look, s&p standard & poor's is a rating agent. they look at assets they look at credit history, they give an opinion under score opinion. on the creditworthiness of the entity they are examine, was their opinion truly their opinion when they gave it? or did they give it for some nefarious reason? there is no such thing as a false opinion, as long as speaker of the opinion holds that opinion, under the amendment they can express it. the government did not like what the s&p said about it. set, the president said that 14 amendment might allow me to cancel the debt or pri print mo.
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democrats saying we have to spend more money than we can generate from tech revenue, who would not come up with the opinion that investing in federal government of united states of america in 2010 was not investing in pristine debt. neil: not worthy of a triple day rating, now administration argues that this has nothing to do with it but with the firm's behavior right up to financial meltdown. now, i acknowledge as much they screwed up but they had company. by the way with congress, and other ratings agents, only thing i could think that would single them out is that move to downgrade our debt. >> if freeh rating agents say -- three rating agents they is a credit of the swaps might work out, it might be a worthy investment people put their
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money in credit default swaps, they all lose money, they were all bad, why did just one get sued by the fed? that credit rating company, standard & poor's, as you pointed out, said look twice before you buy federal bonds, if the government is not going to pay those bonds back you will be stuck. neil: they were the only ones that pulled trigger, fitch and moody's, they were threatening to do, that say said we might have to put them on a credit watch. they never pull the trigger though, s&p did, it shocked world. and defense we heard tetz was at the time was that u.s. always makes good on its debt because we can just print money, s&p saw the lun as we that -- lunacey with that.
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>> look, if s&p decided that cav oucavuto enterprises inc. was unworlded and could suffer, they could sue s&p but when s&p says that about the government, government is restrained by the first amendment, that basically has been interpreted by court as means there is no such thing as a false opinion, if you give an opinion, and everyone opinions it is an opinion, you can say whatever you want. so in s&p's opinion, the government was not worthy. neil: they keep that out of this. >> only for why government went after s&p, not after fitch and moody's who essentially made the same generallation about credit default waps before 2008.
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>> thank you. neil: connection other big brother dots here, you have nsa, irs all watching, too much for the next guest. with me now is mark. you have seen all this, latest sort of -- you know retribution against a tomorrow that dared to lower u.s. credit rating. when president obama said it was unnecessary, what is going on? >> it is tried ending frightenis is an attempt to shut down whoever would question the federal government. you have a pat everyone here you speak out, you say the emperor has no clothes, you get abuse for it, but if you coop quiet, and go along with the game no one comes to harass you. neil: i would extent it to big
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firm, remember jamie dimon practically had a disney fastpass to the white house then he started speaking nast to the white house then there were big finds, and paying on a trade, and a fine for it, i wonder why it happened? >> this is one of the real problem in my opinion with this crony-type capitalism we have, if you are willing to play along and presend it is fine, you will -- pretend it is fine, you will be taken care of, but if you are willing to point out the fraud in the second somebody will come after you. it shuts down debate, it shuts down transparency. it shuts down accountability. we have seen this where can you are willing to speak out gain the government they will come
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after you, if you ar threat, this makes nixon looks like he was shy. it is frightening, one of the incredible things to me that is the same department of justice suing lenders telling them they are not making enough lone and risks but somehow s&p is it blame for not pointing out you on risky the loans were? >> there is a -- mark great thank you. >> my pleasure. neil: struggle over syria goes odo we stay out or do we go in? up next ronald reagan national security advisor on why he actually agree with that president, bud mcfarland said that hitting syria now will be worth it in the end. (announcer) at scottrade, our clients trade and invest
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because i don't trade like everi'm with scottrade. me. (announcer) scottrade. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ neil: mighty mack on the syrian attack, john mccain signing on to this regular after the committee signed on to some of his changes americs mccain demag
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if we go into syria we go in hard, and fast, either to topple a reckless rogue or offer hope for rebels eager for american help. to former reagan adviser, bud mcfarland, if we hit syria we do have to hit them hard. >> we cannot allow this to go out response. think about it. there are other countries from north korea to iran who also have or going today once once weapons of mass destruction or greater power nuclear context, we have to take action, the point is, you don't' to do something trivial, you don't want to do a slap on the wrist or something that is just historic and outrageous. so here is a an opportunity,
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general jack king and others have pointed out the vulnerability of the assad regime, to take effective action, not a pin prick. go after the infrastructure, that would allow russia to resupply syria with chemical weapons perhaps. they are vulnerable. we could do it from offshore without putting boots on the ground. but make clear to asawed we will not tolerate the -- to assad we will not tolerate use of chemical weapons and let the good guys know of what we intends to do here. to eploit whenever act is taken. but both by hitting air feels preventing russias from resupplying letting good guys know what we're doing, and doing it emphatically we may have accomplished something. neil: this the meantime we're awaiting that response, and president with a press
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conference in sweden today, said of it not about his credibility but really how credible u.s. congress. is and said my credibly is not on the line. sort of doubled down saying i that did not say a red line, echoing a point a new white house talking point echoedly likes of nancy pelosi and others that humanitarian set the red line, but i do remember a red line comment, what do you make of this? >> you could go back to 1925, when all civilized nations set the red line. in treatsy that -- treaty that bans use of chemical weapons. the point is not to point the finger about who set that red line, the point is doing something effective about it. neil: is there a problem with the way that president has handled this in typical military
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argument that been he is giving assad plenty of time to move stuff, hide stuff, and that because he is given so many mixed messages he has confused world? >> are he can clear that away by acting effectively now, we say going back two years we could see this coming, so act earlier, clearly would have been better, so here we are fish or cut bait and do it well. neil: i want your sense of whether there is a strategy to the white house's thinking that maybe it does not want this politician passed. in its heart of hearts it is going through theotions, gestures but, its real desire is to pull out of the region, cut defense spending and be done with it? >> we cannot put all of the
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region. this region through oil supplies global economy. and for us to allow it to drift from conlike t to -- conflict to crisis. the squeezing of israel, and ferment brewing throughout the area to pull out of it is simply irresponsible. and cannot be done. the point is that this administration has acknowledged it must act, let's just make sure that thatby do is effective. and heavy. >> bud mcfarland thank you, my friend. >> take care. neil: to a guy named pat who disagrees with bud, pat buchanan's beef is not the mission but the person leading that mission. you think there is another agenda.
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>> let ple let me agree with my, colleague, he wants a robust attack that does damage and brings down the outside regime, we could do that. unquestion abily if you went in, all out, but the consequence of that would be syria, which is all broken up, where dominant forces were muslim brotherhood and al qaeda, what would follow that is the massacre of the christians. then the united states would have a hellish problem on its hand, before this occurred no one, in this country or almost no one behides mcdans cain and - mccain and his colleagues wanted to enter us into a syrian civil war we don't want al qaeda
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in power, what this is, behind the scenes, this syrian war is the dress rehearsal for the war on iran. it is the backdoor to the war on iran. the people you see champions robust attacks and bringing down assad, and going -- are the same ones who want to go to war with iraq, do not want to negotiate with the new regime, we're appalled when something of a moderate regime in iranian terms was elected to negotiate with the united states i understand mccain if mccain says if you do a light attack, you are not going to bring down assad, you are not going to degrade him muchly, what is going on happen is retaliation against u.s. or its allies or interests, it will look like a victory for assad.
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>> you are worried that either way it is a slipper slope for us? >> neil, there is no vital american interest in assad's down fall, no vital american interest in this war. >> you mean that better the devil you know than the one you don't? >> there is certainly, with assad, and his father we dealt with them for 40 years, i was with nixon he flew out to meet hafis assad, u.s. is deal with those people, the insanity would be if you read this morning what happened in libya, it is just broken all apart with militia all over, it is a hellish failed state, it is an incubate or of terrorism. >> thank you, patrick.
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>> thank you neil. neil: all right, think quick, what did katy perry, bill clinton, and the baltimore ravens have in common? well, they are all coming back, yeah, but wait until you hear, you might be tempted to say, to all of these entertainers and politicians, stick on your day jobs and shut up.
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neil: time for tonight's cavuto clash, issue one, a $4 trillion hole with your name on it and yourual tote pay for it total --
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wallet to pay for it that is total shortfall. get ready for more detroit but make sure none of them get one of your dollar. >> scotty, said you are thinking of the big picture it is scarey. >> very scary, you look at these unions, what they have done they bankrupteed off community. neil: all right now, when you look at this christian, a good point they sort of pile up. what is your view? >> well, first of all, neil and scotty, you look at under funding of pensions not just in states with rates of unioning a, but among all states, unions have nothing to do with it and $4 trillion is really, a ridiculous number. not anywhere close to what the
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real pension shortfalls are, and third,. neil: looks at unfunded liabilities it could bring in other factors that could narrow that but it is a big number. >> sure it is a number. but, you know why do we have that number? it comes not just from the benefits that are afforded people it comes from that could that states is in type good andd underfunded their pension obligations it has to do with how states have gone about funding their obligation. neil: scotty, if that is the case, onus will fall back on the municipalities and the states they all share the blame. everyone should have to do something, union cult more and leaders have to not keep blaming the union? >> listen, i will give unions the benefit of the doubt, when
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they first started they were good, out for the american worker. and made sure we had a healthy workplace, this is 2013, we don't live in st. claire a 's jungle any more, all union has done is serve as a front for democratic party, and put in policies that bankrupt large municipalities and idea of having a peptio a tension in --n in 2013 does not exist unless you are a government employee. neil: ravens, is not different from katy perry and bill clinton. to sell this, is law already royally plucked. >> scotty, you say this thing is for the birds, let these ravens play ball. >> listen good news in this, i
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think we already have our benefit concert, all right plans for down the road, this is a big disaster hitting the american economy called obamacare, we had live aid for africa, and farm aid for farmers we'll have patient aid for when all of us are bankrupt, and cannot afford healthcare about more, the system is train recced it is getting worse. neil: there is wisdom to getting ravens involved. if you don't go along, unlike the others they can beat you up. what do you make of these celebrities and big names, they seem to sell something that is not resonating. >> quote the ravens, ever more,. neil: that is very good, that very good you to shea. good touche. >> they can reach people that
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are not reached by government bureaucracy. the fact that the ravens can reach out to people, let them know about what the law might mean for them is a huge win for taxpayers. neil: you are a smart guy. you are influenced by what a big name says? either about a movie or a politician or about a law? i find it interesting but i don't care. >> i'm not, there are a lot of impressionable people who are, if that is what it takes to reach them. neil: that is not the people that watch this show, we're discussing the wrong issue, will that make a difference to christian's point it the get more buzz from cool regarded people, talking up something that otherwise gets talk downed? >> i think that biggest question are they getting in anyway paid or added benefits that has to do
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with taxpayer dollars for giving this type of endorsement, they don't talk for free. we have a president elected based on his hollywood credentials, i can see where dodgobamaadministration think id work. if edgar allen poe were alive today his next horror book would be the healthcare. neil: if congress ends up defying president on syria. how harsh words are coming back to bite the guy looking for love but maybe in all the wrong places. >> time and again, congressional republicans. >> there is a group of republicans in congress, instead congress in congress decided that working families can wait.
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>> republicans in congress have dragged their feet. we've seen a fashion of republicans in congress maybing is that americans should not pay its bills. >> used senate rules and precedprocedures to block.
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neil:ly blasted them, now he needs them. he is a long way from getting rank and file who remain better, and angry, and monica crowley said who can blame them. very long memoriesing they remember president routinely throwing them under the bus, today saying this about congress' credibility. >> what he did today is, he always does, which is blame shift, he realized last week, he is out there all alone on syria, he decided to kick the can to congress, if congress says no, he can look at american people, say, gosh, golly, i really wanted to go to syria, and i really wanted to do it, if they say yes, he has their body to share the blame if this goes bad. neil: if it does not go well, what do you bet he brings up
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sequestration cut, had we not had those it would be terrific. >> but counter point so obvious who went for and proposed that sequestration, it was barack obama and the white house, who gutted military by a trillion dollars his own last secretary of i defense panetta said, we wl not have the a bu ability to ded ourselves or our allies, this is his doing. >> people like you -- but, during the break, being of italian dissent, i never forget a slight. if i am any of these congressmen and women, and i hear you just ripped me a new one for every failure we've had or you had, now you come crawling back to support you on a resolution that you might or might not follow through on?
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i don't think so. >> politicians also have long memories, most presidents find it in their interest to bash congress. >> they don't do it 24/7. i remember ronald reagan would say i want act on the tax cuts butly and tip o'neill would have a drink in the private room, and come out with a resolution. this president has done none of that. so now he comes hat in hand, wants a congressional authorization, a lot of these folks, republicans and democrats, democrats for years said he does not show up on the hill, he does not talk to us, he just does his own thing, he does not even consider us a coequal branch of government, now he is
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coming to them, expecting them to do his bidding, that is why he is meeting a lot of resistance. neil: a couple -- what amazes me how john kennedy worked with republicans to get that over opposition of democrats. but because he had a reviewer of reservoir of goodwill, he was the able to get more done. >> this is what leadership is, you have three warn branches of government, this president has gone around congress, around constitution, cun less times, he -- countless time, he has always done whatever he wanted now all of a sudden he decides he needs political coverage, these folks have long memories they are saying, what have you didn't for us lately? >> you have to butter their bread. >> politics, leadership, he has
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done none. neil: monica crowley thank you. >> do you think hackers are gaining steam? now they are cutting power. ♪ no two people have the same financial goals. pnc investments works with you to understand yours and helps plan for your retirement. talk to a pnc investments financial advisor today. ♪ she's always been able it's just her but your erectile dysfunction - that could be a question of blood flow.
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with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. neil: venezuela is in the dark, the country's president said he knows who put it there, the opposition, saying they sob sabotaged the electric grid, 70% of the country is without electricity. power is slowly being restored terrorism is a big worry again today, not just in venezuela but all over the world that fear
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next cyber ramp up could turn the power grids off, to retired air force colonial cedric said they have every right to be nervous, we still don't' what happened in venezuela but it looks look a hacking pattern. >> it could be like, other part they have a decrepit infrastructure. neil: it would be all the more vulnerable. >> the older the system is the more vulnerable it is easy to attack through cyber means or conventional sabotage means. neil: if the venezuelan president is trying to capitalize on politics from this, if we have seen power grids compromised we know that utility have been hacked defense
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establishment have been hacked. it is not a great leap to think that hackers could do veriable damage to country's whole infrastructure. >> in 2007,es estonia, one of te move wired countries in the worm world was attacked bed it was te things we've seen banking infrastructure in estonia laid to waste because of that, and same in georgia burying the invasion -- during the russianic vagurussiainvasion of georgia, a lot of different things going on in cybere realm. >> do you think there is something here? i think, i don't have your
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techno starts or military smarts, but there is a series of practice events. >> yes. absolutely, the way a lot of these people do their hacking attacks is they go on a reconnaissance mission, they find vulnerable points, the chinese for example are well-known as doing this, they hacked a whole company, brought it to its knees that were nortel corporation, that was in a 10 year period, there is no more nortel in the form that we knew, that is part of what they do. i can see the same thing happening with syria. neil: okay, let's hope on this case, you are wrong. really never are, so thank you very much. >> great seeing you, nile, thank you. neil: all right, i always knew that abercrombie & fitch hated fat people, now i am really beginning to hate their people,
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neil: let me be brief, abercrombie & fitch cannot get out of its own pr way, remember when its co blasted fat folks who came in. we hear from sexy folks that work there, company has a strict look it wants its employees to adhere to down to color of
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highlights in their hair, male and female, forget about whether abercrombie & fitch is being shallow, is what it is enforcing illegal? we bring in the lawyers, rebecca repfennig thdefending the store. >> my view, abercrombie & fitch ceo is out of his mind, he is discriminating against people, asking workers to look a certain way. neil: you are not defending it. >> i am not,. neil: kelly you are why? >> i am defending store they have a brand, they have an image they are trying to maintain, that has been uphold before by courts across board that appearances can be hande hand f, you -- mandatory, yo.
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i am okay with it, it goes with their image, i don't think if you don't like it get out. neil: take a chill pill. >> if i don't like it get out, i understand that kelly, we're in a private sector job, and abercrombie & fitch has right to within reason. restriction their employees, they like home to wear abercrombie & fitch clothing i'm fine with that, they would like to show up on time, that is okay, i am not find with this hair book, they get an employee book that tells them how to do their highlights, how to -- >> you know they did that with me here at fox. >> you are doing a great job. you nailed it. neil: right. >> so overly restricting. >> it is a place of beauty and sexy images they don't' certainly their personnel
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besmirching that. >> i understand within reason, wearing the brand, this is a slippery slope, to what we saw he said i down want fat people in my store. >> i want to natural, it does not make it illegal, they say, you want natural beauty, we' you to look natural not overdone, not crazy hair colors. >> a fat person shows up to work there and they don't tell the fat person they are fat, and that is why they are not hired but you know that is why they are not hired ? >> well, that happens everywhere, unfortunately, so as long as you have a valid basis not to hire someone, you don't have a right -- >> your point is well taken. >> so as long as discrimer to in terms of certain landlords that don't rent to certain races, and
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people, and they use another legitimate reason. neil: what they are doing sound may offensive, but it is legal. and you say it is illegal? >> i am argue it is a slippery slope to illegal discrimination. that is what i worry about in this situation, in this -- abercrombie & fitch history they have been fined because they didn't want people with disabilities working there, that is illegal, restricts on looks, and on nail, the ledge of someone's nails it leads to a situation that is beyond the scope of brands your products, to discriminates against those who want to work there or shop there it is not appropriate. >> i disagree, you are bringing unnails, you have to be able to do the job, you can't scratch someone you hand them something because you have claws, you have
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to be able to work a wash cash register there are specific reasons. neil: do you think that reason why? >> come on. >> i think it is an image thing, i am 100% think it is image, brands and image. they sell a life style that is what they are selling, it is not discrimination because they tell people -- >> i just think it is shallow, kelly, it might not be illegal. it is what it is, but i think it is just rookie reeks of every py worm. >> you have a choice not to shop there or not to work there. >> that is your choice. neil: not happening here, thank you very much. >> in the meantime, did you hear about ireland's news. dublin confirmed it for us, boom is back. that is no blarney. no matter how you are dressed.
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skimpy or otherwise. thank you orville and wilbur... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you' history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones.
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now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share moresave more. at&t mobile share for business. ♪ at&t mobile share for business. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. th's why we partnered with hp to build the new nascar fan and media engagemententer.
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hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. neil: to hear the irish telling, housing is magically delicious, home prices rebounding and dublin residents are doing all but the river dance. nearly 3 years after ireland was forced to seek a international rescue, the home prices are rebounding. why should we care? it is among the last matters housing markets, a wee bit goodtime for us, to jonathan oh, hoenig and jeremy o'levy.
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>> i think you would be a natural if lucky from lucky charms were out the work. housing is up in ireland but it is up world wide but down from early heights, it reminds me. not unlike with japan, now it is starting to recover. i tell you housing right now is properly one of the worse -- probably one ofs worst places to put your money right now. the rise in interest rates. neil: you know jared, argument is that you know, housing will climb a wall of worry. and it is due, and this is the time, and ireland is the latest indicator to confirm that? >> i still have the italian lep
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leppe--leprechaun in my head buu are right, i remember crashing and everything was falling apart in greece, one of my buddies and i looked at greece real estate, we looked around, housing did not budge in the desirable areas, dublin there is business there, if you look around ireland, listen, we can't use ireland as a real gauge in america, when has been motivating our housing boom are hedge funds, and also fact that ren rates are high -- rents rates are so high, do i think ireland is key? no. but in america, looking for stocks to buy, look at reits. you know, guys that bought housing steep like black rock that is another company i would look at, but i don't think that ireland is our answer to a
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global housing recovery not now. neil: l.t. well to the hell with both of you. >> all right. then, you are linkedin. >> taking advantage was not just a bull market in technology but in social networks stocks. like they were in late 1990s, what worries me about linked in, it will give employees 10,000-dollars to give to charity, 5,000 to go to school, free yoga classes, it smells like a top than a buying opportunity, if the company is issuing more stock as they are. neil: jared? >> 766 times earnings, if you
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buy the stock right here, you pay 766 times what company earns in a year's time, granted they are assigned that social media premium, but i am no on linkedin to make friends, i am using it to network, they are charging me to use it, it network, they are frying ting -- trying to chargeu $45 or whatever it is her month, i think companies like monster they will ban together with other smaller employer companies you will see more competition, i do not think that is a time to buy, when you dilute a company by adding shares that is like jonathan said, a company taking advantage of the high stock price. neil: all right. finally, samsung this week, apple next week who wins in futurfuture week, focus on a co,
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that pegs to these guys. >> if you want to bet on device maker,al sell your better -- apple your better bet, there is a efs arves are -- etf, fone, bi would look at pipelines,. >> interesting. >> world is changing, i like the watch idea, samsung gave us a look at that, apple has to be creative. here a company called universal electronic display -- university display technology, i'm sorry, oled . neil: that is where you place your bet. that is it i'm didn't you the assets -- i'm done with the assets, we'll see you tomorrow. .
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gerri: hello, everyone, i am gerri willis. tonight on "the willis report", the coc taxon. >> we will be all better off that we supported. melissa: gerri: and super bowl champs promote obamacare. plus, an even bigger success story that we first bought. name brand versus storebrand. can you tell the difference? we are watching you tonight on "the willisreport."


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