gerri: thank you so much. gerri willis and lou dobbs. we will see you tonight on the fox business network. dennis: lori rothman and melissa frances have more on the attacks on our embassies and consulates in the middle east and may be time to rethink the billions of dollars of aid that the u.s. sends over there. cheryl: lots on the fed decision as we wait for a fed chief ben bernanke's news conference just over an hour from now. tdd#: 1-800-345-2550 wh i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find unities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#:

gerri willis is on that story next. ashley: take a look at some of today's winners and losers with the dow drifting even lower, down 37 points. safeway, not bad, up 3 1/2%. we'll be right back. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay ale... but feel alive. the new c class is no exception. it's a mercedes-benz through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. it with criticism even from the philadelphia fed.

and gerri willis will look at the impact, next, from new york. well be live from charlotte, north carolina, as we cover the proceeding. we are two-thirds of the way through and a third of the way to neil cavuto. hang on tight. [ mother ] you can't leave the table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8... >>shepard: on the same day the democrats kickoff the convention here in charlotte, the treasury department reports that the debt will top $16 trillion. there is a debt clock. there it is. look at it move around. already the highest the country has seen. several factors add to the rising number. the wars, all the tax cuts, and the economic downturn, which, obviously, began in 2007. republicans made the national debt a focal point of the convention in republican national convention, complete with huge clocks keeping count. you will not find the clocks here. those reminders are not to be found here. gerri willis

welcome to "the willis report." hello, everybody, i am gerri willis. the fallen heroes in the consulate attack brought back on u.s. soil tonight. here are the pictures as violent and now to the american protesters sweeping across middle east and north africa, government across the region including ours containing the crisis which only seems to be growing. with more on this, republican strategist and fox news contributor. fox news middle east analyst and author of the coming revolution. a former staff member on the senate committee, well, all. this thing seems to be spreading, going everywhere tonight. reports of attacks on a base of british ander american forces coming under attack and we're seeing these protests go everywhere now. what do you make of this? little internet video the cost of this? >> no, this is a network, the same network that did wonton among me, -- wonton them all day , the corona >> most of tripoli, libya, and from there on too many other countries. the reason they're doing this basically is to put pressure on the united states to a

welcome to the "willis report". gerri: hello. i am gerri willis braff your accepting the nomination mitt romney conducted presidential duties looking at areas devastated by hurricane is it. and his speech last night promote him into the job? might undying to know your reaction. good bad or ugly? >> it was good. he brought warmth which people did not think he was capable of. when he described the time his father would later rose by the mother bedside. it is hard to talk about it. he laid out what he wanted to do. he was not unkind to the president or cruel but said this has failed give me a chance to fix it. gerri: one comment about obama's and the voters. >> if you felt that excitement when you voted for barack obama should you feel that way now that he is president? [applause] there is something wrong with the job he has done with the best feeling you had was the day you voted for him. [laughter] [cheers and applause] >> it was not a personal attack where his integrity or character but his job performance. you don't feel so gidd

welcome to the "willis report". gerri: hello. i am gerri willis braff your accepting the nomination mitt romney conducted presidential duties looking at areas devastated by hurricane is it. and his speech last night promote him into the job? might undying to know your reaction. good bad or ugly? >> it was good. he brought warmth which people didnot think he was capable of. when he described the time his father would later rose by the mother bedside. it is hard to talk about it. he laid out what he wanted to do. he was not unkind to the president or cruel but said this has failed give me a chance to fix it. gerri: one comment about obama's and the voters. >> if you felt that excitement when you voted for barack obama should you feel that way now that he is president? [applause] there is something wrong with the job he has done with the best feeling you had was the day you voted for him. [laughter] [cheers and applause] >> it was not a personal attack where his integrity or character but his job performance. you don't feel so giddy

fox business network gerri willis is in. also resale prices of homes is up as well. >> big number, $187,400 is the median sales price for august. up 9.5% year over year. boy how do people like to hear that? let me tell what you is happening. this is sales of properties that are not in trouble. not foreclosed properties. conventional properties. this is good news. >> shepard: on another front oil prices plummeted on monday nobody knew why. went down on tuesday nobody knew why. today they are down today. >> i have reason for you. a barrel of oil, $92, down $3.31. >> shepard: today alone. >> yes, correct. and just because of expanding inventories way bigger than analysts expected. economy is bad way over the globe. saudis are pumping more oil because of what is going on in the middle east. i have an explanation for what happened earlier this week. a fat finger trader, a trader made a mistake. >> shepard: that took oil prices down. >> that took oil prices down. >> shepard: they keep going down. now it's real. >> this is going to

gerri willis from fox business is with us now. how are the candidates addressing this housing slump, gerri. >> they are not addressing it at all. romney is going to be in nevada and florida soon. he may talk about it then. largely they kept it off the table. you should know that the white house has been pushing from legislation from the senate to make it easier to refinance for people who are in trouble. they got that today. the senate introducing a bill to make it easier for some of these folks who are in trouble to get some assistance. shep? >> shepard: but, are we seeing some positive indicators in this new report? it seems there are some. >> yeah, you betcha. the july delinquency rate down 7.3%. that's a 30% drop from its peak peek in january of 2010. it's not great news but it is better news. under water mortgages down as well. these are mortgages in which people owe more than the house is worth. it's down to 18% from 23% a year ago. keep in n. mind, these are people at risk because they're under water. they do owe more and t

gerri willis is live this evening. it seems the democrats still tonight want to talk attention to the debt, even though congress people on both sides of the aisle had plenty to do with it. >> listen, $5 trillion of that came on obama's watch. that's one reason they're not looking at the numbers today. as soon as it ticked over to $16 trillion, you better believe that the romney campaign came out swinging, saying that obama left americans worse off than when he took office. now we also discussed it over the weekend, obama advisor david axelrod had this to say. >> the president's plan would do what the simpson bowles plan would do, cut the deficit by 4 trillion dollars, reduce it to under our deficit to under 3% of the gross domestic product, which is what everybody agrees we need to stabilize the debt. and then with growth we'll northbound a position to begin reducing it further. >> shep, he said cutting the debt too quickly could hurt the economy and cost jobs. >> shep: give us some context for how large that $16 trill

welcome to "the willis report." hello, everybody, i am gerri willis. the fallen heroes in the consulate attack brought back on u.s. soil tonight. here are the pictures as violent and now to the american protesters sweeping across middle east and north africa, government across the region including ours containing the crisis which only seems to be growing. with more on this, republican strategist and fox news contributor. fox news middle east analyst and author of the coming revolution. a former staff member on the senate committee, well, all. this thing seems to be spreading, going everywhere tonight. reports of attacks on a base of british and american forces coming under attack tonight. and we're seeing these protests go everywhere now. what do you make of this? little internet video the cost of this? >> no, this is a network, the same network that did wonton among me, -- wonton them all day , the corona >> most of tripoli, libya, and from there on too many other countries. the reason they're doing this basically is to put pressure on the united stat

gerri willis joins us with more. gerri: as long as it is fair and balanced. tracy: americans having a heck of a time. the pilots are saying it is not our fault. and some contract with the company that they are not more cancellations and more than normal. everything is up and up. there are 300 cancellations of flights that americans are pulling back on the number of flights. a group called air farewatch.com and none of these majors, american or delta or u.s. air, none of them when they do a survey performed at the top of lift. a company not even based on this country and a company like jetblue, an airline consumers like. and cancellations slowdown, not sure. my expert last night, if you have one coming up check out. if you are going to a funeral, you might make other arrangements and -- ashley: is that more than normal work typical? >> cutting 2% of all flights. [talking over each other] >> tell me how you feel about it. [talking over each other] >> shame on american airlines. the other thing is pilots are not realizing they're hurting the economy. by doing th

gerri willis will break it down for us ahead. first as we do every day let's take a look now at oil and how oil is trading. it's been on the way down. look at this move down, down nearly $3.50 a gallon at 91.80. we'll be right back. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. [ male announcer ] good choice business pro. good choice. i've got two tickets to paradise!l set? pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than eddie m

gerri willis is here with this. you know what cracks me up? they go back and audit themselves and go oops. >> they don't audit themselves. senate, outside group here looking at these documents. it is really shocking when you dig into these what you say. there is no foundation for the claims is what you find. i looked at a specific case a guy in virginia made a claim of lower back pain. guess what, when he went to the doctor, the doctor's report didn't say, hey, this guy had severe lower back pain. they couldn't find evidence. when he went to a judge, said, look i deserve this disability he got it. that is --. ashley: no medical backup at all? >> the government hires outsiders, these specialists, so-called specialists to fill in the gaps of their lack of knowledge and this is what happens. and of course the disability rolls are growing like topcy. one judge alone, howard o'brien in oklahoma city, approved 90% of the more than 5400 cases he heard you guys described. awarded 1.6 billion in payments. we wonder where the taxpayer money is going to.

i'm leaning with gerri willis on this okay. listen, i've been pounding people own stocks, buy stocks, buy stocks. people making a ton of money that's the way you counteract this. talk about the tsunami of money and what has worked. obviously the stock market. the s&p was 896 when it all started. now it 1498. mortgage rates were high, now they're sub stacksly lower, typically at all-time lows. that stuff has worked. what hasn't worked? by the way the what are the fed's main two gigs? inflation, they tweak the cpi. i don't even believe that. talk about the tsunami of money. unemployment rate. 8.1. nine million people dropped out of the labor force since this kicked in. gas prices from 2 clin $14 to $3.84. median home price from 199,000 now, 187,000. only thing i can see it helped out banks. it hasn't helped stocks. tracy: hasn't helped banks actually. >> helped banks officers. ashley: right. >> 2010 top four guys at citi make $42 million. last year pandit's salary kicked up to 15 million. here is irony to your point. citi's stock

welcome to "the willis report." ♪ ♪ ♪ gerri: hello, everybody. i and gerri willis. much more on that that announcement coming up. first we begin with the escalating anti-american protests sweeping the middle east. these are live pictures right now in cairo were the protesters show no signs of going home. thousands of them crowding around protesting the u.s. libyan officials announcing the benghazi attack, which killed christopher stevens and three other diplomats. saying that it is part of a two-part plan operation. with more on this, we have john bolton and k.t. mcfarland. welcome to everybody and thank you for coming on tonight. the dynamite panel for this topic. i want to start with those pictures in egypt that we saw just a moment ago. k.t. mcfarland, or as let's go to you. the market is a loss of life. egypt is the key because it is the largest middle east country and the one that everyone looks to and has the longest history. as goes egypt, so for the entire region go. the fact that the demonstrations that they have had has turned out to be a who's who of the

welcome to type special edition of "the willis report." hello, everybody, i'm gerri willis. i don't know about you but i cannot shake that uneasy feeling about the economy and as a result translating into the markets high market volatility in recent months becoming the new normal for starting off the show with a simple question, where should you be investing now? to answer that, the panel of financial experts and advisors, lance robert. jamie foxx managing partner, and managing director of wealth held financial. where should i be invested in right now? speak of is a time, very challenging. this marketplace asset allegations sound like there is redundant but you have a balance in your portfolio amongst ducks and bonds and when i talk about that i think for most people looking for a little more yield, have to be focusing a dividend stocks and within bonds looking at yielding bonds like high yield bonds, convertible bonds and floating rate bonds. people think about bonds and think treasuries. gerri: is all about asset allocation? >> i think so. i think it is about the particula

welcome to "the willis report." ♪ gerri: hello, everybody, i'm gerri willis. anti-american protests have gone high-tech. a group is claiming responsibility for alleged cyberattacks on the websites of bank of america and the new york stock exchange saying it's a first step in a campaign against properties of american zionist capitalists. now, more countries are pushing youtube to block the anti-islam film to contain the outrage. with more, former deputy secretary of defense and former ambassador, and welcome to the show. we have al-qaeda calling for attacks on u.s. diplomats, attacks on the bank of america and new york stock exchange. is the president's policy of mutual respect working? >> i think obviously not. it's -- we were going to have a new era in the relations with the muslim world, and that's not happened. i think the responsibility should be laid first and foremost at the feet of the islamic extremists, and i think it important to emphasize and understand that i don't believe the great majority of muslims or arabs share those views, but one of the pro

welcome to "the willis report." ♪ ♪ gerri: hello everybody. i am gerri willis. outrage tonight over small investors being ripped off. it has been the focus of that investigation this week. a big issue being debated on capitol hill. this is something every individual investor at home should be concerned about. if you have a 401(k), and ira, a savings plan for your kids, grandkids, listen up. this involves you. warning that high frequency trading firms are putting your money and global system at risk. joining us now richard grasso. it is great to have you here. an absolute pleasure. >> gerri, it is an absolute pleasure to be here. gerri: investors are losing confidence. losing confidence that time. some 15% of americans polled say they don't have trust in the stock markets. what is behind that? >> it is very sad. it could not come at a worse moment. if you look at what is happening since may 2010, everyone has been railing against so-called high-frequency trading, algorithmic trading. no one, i mean, no one can sit here, myself included, and give you an answer as

"the willis report" is coming up next. gerri: hello, everybody, i am gerri willis. tonight, the middle-class is under assault in this country. those in power do nothing. the census bureau said incomes for typical american families were either flat or down throughout the country. despite all that talk about 4.5 million jobs being created, the reality is too many americans are scraping by and poverty is on the rise in many of our communities. essentially, any gains that we have made are gone. the new numbers say we are no better off than we were a decade ago. joining us now is black brakeman brad blakeman. the president says he wants to be reelected. but his track record is poor. how do you defend that? >> you try to make sure the country on track and do better in the next four years. i think that is why barack obama will win. in the end, what we are looking at is there people on the low end of the income who are playing by the rules, but there are also people at the high end of the income to achieving this country needs you to look at the national median income. in 2

gerri: hello, everybody, i am gerri willis great while most kids are coming home after school activities and sports, many never even went to school today because they're teachers chose to be on the picket line. instead of in the classrooms. after rejecting the city scale where they put a halt to the country's third-largest school district. with more on this, john fund, senior editor of the american spectator. i have to say, i think that people look at this and they say see that paid at the chicago teachers are getting, which is higher than any other district in the country, it is shocking to see that abandoning these kids is going on. when you make of it? >> there are a lot of good, dedicated teachers in the chicago system. but the current union work rules and the restriction on them being good teachers make it very difficult to do the best job for the kids. something like 15% of fourth graders are reading at proficiency level in chicago. if you are entering a freshman high school class, only 56% of the people who enter as freshman graduate as seniors. this is unacceptable. having said t

make sure you watch gerri tonight, willis report 6:00 and 9:00 p.m. eastern right here on the fox business network. ashley: i'm broke. any questions, kids? don't ask for anything. coming up, china's economic prowess may be slowing but retailers are still fighting each other to gain a foothold in the market. we will tell you who is winning that battle next. tracy: first as we do every day, let's see how the 10 and 30 year treasuries are moving right now. the 10 year is up 1 basis point, 1.69%. 30 year, the same, up 2 basis points, 2.84%. robert: i'm robert gray with your fox business brief. bp is selling some of its deep water gulf of mexico oil and gas properties to texas based plains exploration and production. the price tag there, 5 1/2 billion dollars. bp is selling off assets to try and pay for damages from the 2010 gulf oil spill. the deal is expected to close by the end of the year. eastman kodak will cut an additional 1,000 jobs by year's end as part of its restructuring the plan. the bankrupt company already shed roughly 2700 positions from it

welcome to "the willis report." gerri: hello, everybody. i'm gerri willis. on the eve of the august jobs report president obama is presenting his case to keep this out, becoming one night after former president bill clinton's fiery speech as obama already over -- been overshadowed before you walk onstage to back with more on this, new york post columnist of the dnc. founder of the reagan group. i want to start with you. and going to have to cut you both by your last name. let's start with you. what can we expect tonight? is the president going to be overshadowed by bill clinton? >> i think last night he was probably over several lot. there's probably a point to the speech last night where the obama people were saying, my god, get off the states, leaving some room here. it's going to be hard to outdo bill clinton less night. tonight barack obama will do what they have been trying to do all week, make sure that his constituency goes members of the democratic party, all those different factions are together as one on election day. that is used talking to. he's

gerri willis at fox business.com. >> new numbers are out. rich edson is here with the latest details next. this used to be a land where americans dreams come true. did the golden state loses shine for dead? michael reagan weighs in. you play your cards right, you, too, can cash them at mitt romney did on his tax returns. we are on the case on "willis report" yeah, i'm looking to save, but i'm not sure which policy is right for me. you should try our coverage checker. it helps you see if you have too much coverage or not enough, making it easier to get what you need. [ beeping ] these are great! [ beeping ] how are you, um, how are you doing? i'm going to keep looking over here. probably a good idea. ken: what's a good idea? nothing. with coverage checker, it's easy to find your perfect policy. visit progressive.com today. ashley: is worker pay unbalanced? a look at who on the government's payroll is making the most money. the findings may surprise and a paul you ashley: new polls show that state government workers are making more than their

welcome to a "the willis report." ♪ gerri: hello, everybody. i'm gerri willis. tin number two of the democratic national convention. bill clinton takes center states tonight in charlotte, north carolina. live coverage from the floor of the convention. meanwhile, u.s. national debt continues to spiral out of control having hit the 16 trillion marks yesterday. republican vice presidential nominee paul ryan using it on the campaign trail in iowa today. >> we had $16 trillion of debt announced yesterday. that is a country in decline. we have a clear choice. are we going to stay on the path that president obama has placed us on, or we going to turn this thing around, when the selection and get the kutcher back on the right track? that's or going to do it. gerri: john and me now by phone, former -- senator alan simpson of wyoming. i'm very good. i hope we are the same. >> a beautiful day. high blue sky. other than that it is -- gerri: i sure it is not as did john notice that the national debt is now over $16 trillion. what do you make of it? >> i think it's tragic tha

we will be taking you to "the willis report" coming up next. gerri: hello, everyone. i am cheryl casone and for gerri willis. tonight on "the willis report", a day of protests. in chicago, on the ticket line, teachers vote on a new contract. kids are staying home for another week. the mayor forces them to go back to work. >> this was a stripe of choice. a bad choice for children and not necessary. in new york, fighting capitalism, occupy wall street returns marked its one-year anniversary. across the middle east, rage against america. a wave of anti-american violence in several countries. the obama administration struggles to get a handle of the situation. >> those stories and more coming up. cheryl: anti-american protests to the middle the middle east have gone global, spreading spurred into africa, asia, and australia. jitters in the marketeer at home. google is taking action to block the controversial anti-islam film, the same film that the obama administration costs spontaneous attack on the libyan consulate. with more on this, anthony schaffer, author of "operati

i am cheryl casone and for gerri willis. president obama into the podium at the united nations to defend his foreign policy. all eyes are on him. anti-american protests continued to rage on. the president making clear that he is hopeful enact let us remember that this is a season of progress. for the first time in decades, nations and libyans and egyptians voted for new leaders that were credible, compatible and fair. cheryl: has a change to something more dangerous? tonight, we talk to our expert from the hoover institution. today, he definitely handled the issue of the middle east. but critics say he has made too many missteps come back. >> he really didn't. president obama has to, begin with, changing his story. his administration described the crime that had taken place in benghazi is related to the video. it wasn't video. it was an act of terrorism. this story has changed. this is the background. so much for the rest is a good deal of revision of history. cheryl: you think the critics can get past the fact that he is no

gerri willis has the story next. tracy: one company is using three detechnology to help shoppers find clothes that fit. i could use that. don't miss it. we'll be right back. [ female announcer ] need help keeping your digestive balance? try the #1 gastroenterologist recommended probiotic. align. align naturally helps maintain digestive balance. ♪ ooh, baby, can i do for you today? ♪ try align today. these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one. ashley: welcome back. apple's new iphone 5 as a bigger screen but it is still thinner and lighter than before. it also comes with a new connector that apple says is 80% smaller than the old one. the stock by the way up on the news. overall stocks slightly higher ahead of the federal reserve's statement tomorrow. we're waiting for that. the dow and s&p flirting with multiyear closing highs that is. >>> the united

"the willis report" is coming up next. gerri: hello, i'm gerri willis. could this all have been planned? the u.s. government reportedly investigating if the deadly attack on the u.s. cons -- consulate in libya was not the result of a spontaneous protest as first reported this morning, but, instead, likely to be a coordinated attack tieded to the anniversary of 9/11. the chairman of the house intelligence committee, mike rogers, telling fox news this was absolutely a coordinated command style raid. with more on this, a resident score lal at the american enterprise institute, the chief political correspondent of the washington examiner, and republican congressman of california, the chair of the armed services committee. congressman, starting with you. you chair this critically important committee. you probably got some inside information today on exactly what happened. what have you learned about the events of the last 24 # hours and is it true that it was all coordinated? >> i haven't had time today to have a briefing on it so i don't know of any new info

gerri willis will be back on monday. i'm cheryl casone have a great weekend. lou: good evening, i am lori rothman in for lou dobbs. more bad timing for president obama. a lackluster jobs report. hours after a big pitch to the dnc with just 60 days before the presidential election, an economy that appears to be stuck in neutral. second term aspirations. we take that up here tonight. also tonight, elaine chao offers her perspective on how to the this put this country back to work. also ahead, ben bernanke on the verge. kevin hassett is here and archbishop dolan during the dnc benediction last night. we will play the tape and let you decide. first, the obama and romney campaign. crisscrossing in iowa and vermont. >> we have been there and we have tried what they are selling. it didn't work then and it's not going to work now. we are moving forward. as was pointed out in the convention, there is a basic component missing from this plan. it's called math. [laughter] arithmetic. lori: there is no arguing with this guy. the economy adding a measly amount of jobs last