tv Cavuto on Business FOX News December 10, 2011 7:30am-8:00am PST
michigan, and haagen-dazs and taxpayer snow cone machines. >> brenda: tobin. >> the most insane prediction ever. >> brenda: you know when it's hot not cold. neil cavuto up next. >> well, forget about occupying wall street. these guys should be occupying paradise. do you think that's a stretch? well, think again. >> i'm neil cavuto and we used that video for just this occasion, over the top hipocracy. these guys soaking up the sun and socking it to the little guy. they are he' not the little guys. and union government leaders are picking the ritzy hilton in san juan puerto rico to hold the annual convention reportedly funded by union dues. so not a peep out of all the occupy protesters, the
so-called rich corporate fat tax. and charles payne along with dagen mcdowell and adam lashinsky, and charlie gasperino. >> occupy wall street, if niece occupy kids are defense greed and people taking advantage of things, they have to be against some of the unions, particularly the big union bosses. you can argue greed by unions kill the auto industry, the trucking industry, you know, hurting the airline industry and the bosses in the unions, forget about it. they, really, really do live a life that only the 1% could even recognize. >> neil: dagen? >> where do you think that this, this hipocracy comes from? what did you say in the intro, rich corporate fat cats, how many heard if you heard those two words, fat cats come out of the president's mouth. >> neil: as soon as i hear that, i don't listen to the rest. >> when you say fat it's almost literal, literal in
that photo. >> rich, calorie challenged. >> the two men in the photo. can you imagine they're saying to each other, yo, you think my gut is too big to-- >> hey, hey, hey. >> careful, careful. gasperino? >> why would they bite the hand that feeds them? i mean, i've done some reporting on this. >> the unions, particularly the union city, united federation of teachers and other unions are financing the occupy wall street movement. they doe he nanated money to th catered to the event and given them office space near zuccotti park. if the people na live there have a beef with occupy wall street they should have the union of fred rated of teacher, abominable to-- >> first of all, i'd like them to invite me to speak in san juan.
>> neil: you're open to take a check from anyone. >> and not just anyone. >> air there, but go ahead. >> you cannot, you cannot fault the union members want fog get out of the cold on the east coast and go down to puerto rico, but what you could say is, with so many of our members out of work, is this really a good idea, to be living it up in puerto rico at a fancy resort when so many of our members are barely able to scrape by and losing jobs? that doesn't show much sensitivity and next time palm spring, less humidity. >> and i'd go one step further. i don't generally have a problem with this. the public funds, a little more embarrassing, if you're going, that's fine, but certainly do not rip private enterprises and their annual meetings and locals in the process because then you look doubly bad. >> well, i happen to agree with that 100%. i think this conversation is a distraction and an opportunity to say nasty things about unions. having said that,i.
>> neil: by the way, just play along. >> well, and a distraction i am ate the only one that thinks so. >> neil: i think it's a distraction to say this this stands out like a sore thumb, adam, come on. >> yeah, but-- >> what's the difference between the banks-- >> adam, what's the difference between the banks. >> i'm get to it charlie. >> neil: let him answer. let him answer. >> in my opinion nothing. >> okay. >> i think that banks should be allowed to have meetings in fancy resorts and meetings with clients or executives. if somebody wants to criticize that as bad behavior, criticize it, yes. and i agree, the unions should be-- the occupy wall street or the protesters should criticize this. >> do you think that the unions-- this isn't good behavior. >> do you think the banks should have paid themselves all of those bonuses right after being bailed out? >> i mean, the point here, you have crony capitalism on both sides. they're both wards of the government and they're both living it up and i think it's okay to criticize the banks on
paying themselves big bonuses and lavish vacations? but the union stuff-- >> there's one difference, they don't get the heat in the media. >> and that's why we're bringing it up. >> the president goes on a 17-day vacation and $3500 a night and he's not one of the 1%, 0.1% out there. >> and charles, that's where you're completely off the deep end. the president of the united states needs security, he needs certain things. you know that. >> adam-- >> and you know as well as anybody. >> this has nothing to do with security. what he's paying for the room him and his family is staying, $3500 a night. >> i understand that, do you want him to stay in the motel 6? >> yeah, i think that would be very interesting. >> and there's a wide gap between $3500 a night and $86 at the average american spends a night on vacation. >> he's the leader of the freeway world. >> you notice ben starts writing notes, how did he get something as low as $3500 a night. and thinking i don't want to give my wife any ideas where
she could stay. >> and no, to charles' point though, the president opens the door and has, since he's been president of the united states, to selective criticism, that he talks about what the breath taking greed of a few that caused the financial crisis, once again talking about the fat cats, and so, he opens the door for this kind of hipocracy, where the guys who work the at the banks are, well, lousy people, and these guys who are sunning it up getting their billionlies tanned down in puerto rico are fine. >> a suggestion, dagen. >> what? >> i have a suggestion, neil. we should all agree that institutions, that public leaders should use some sensitivity and during difficult times it would be a bad idea for them to be photographed living it up on the beach. but, beyond that, i mean, do unions have a right to have meetings and to organize and criticize and-- >> and we have the right to criticize the hipocracy.
adam. >> absolutely, charlie. >> and taking bailouts and-- >> i think that charles hit on the the proper point here, it isn't so much where they're going, i don't care where any of them go. i could give them a couple of options, i'm just saying, it sounds, particularly egregious, when they're the ones pointing fingers at others doing this. anakin to me coming in monday and advising everybody. you know, you really, you really-- >> and not a good idea. >> wait-- >> did you expect anything less shallow from the occupy wall street movement? these kids had no idea what they were doing. and i mean, i think it was basically a media fixation. >> it was and we're not hearing anything and that's to be expected. i'm just saying, you've got to eat your own porridge. >> aren't our taxpayer dollars paying the-- >> that carries a little more after burden. >> and in turn paying for these. >> indeed. bottom line, i could have given a couple of places. is shecky green's place still
in the cats kills, $29.99 a night. >> and villa roma. i spent many nights there. >> all the pasta you could eat. >> and well-- mortgagee shore was the-- >> exactly. is morety still around? and kicking off the holiday season, ready to kick the economy into high gear? the forbes gas saying not so fast. not so cheery signs. those guys are depressing, they're never looking at the half full class, that's the forbes gang. >> that's the top of the hour. anyway, up next, see these guys? ahhh! >> ahhh! >> they just realize their chevy volt is on fire.
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headquarters and i'm jamie colby. partisan politics in the payroll tax cuts part of the weekly addresses from president obama and speaker of the house, john boehner. >> congress cannot end the year by taking money out of the pockets of working americans. now is not the time for politics, now is the time to do what's right for the american people. >> it's no secret that republicans and democrats often disagree about the best way to create jobs, but we can't let those disagreements prevent us from acting when we do agree. there's bipartisan support for extending the payroll tax relief and unemployment benefits. >> if lawmakers don't act. 160 million americans will see their taxes go up in the new yearment i'm jamie colby, i'll have more headlines. >> well, a smoking gun on a smoking electric car? capitol hill hearing next month will focus on the chevy volt batteries and whether the
administration knew about the safety issues with them and reports the government invested in these electric vehicles is now running on empty, but they want it still give more cash and charles payne you just say-- >> it's a shame. listen, this is not as egregious, per se, as the miles and miles of wind turbines that don't work, the solyndras of the world. the solar farms, you see warren buffett bought a solar farm the administration is going to back with a whole lot of money, 12 permanent jobs. >> neil: a solar farm? >> just a big row, rows and rows. >> and a guy selling it, that would be a pretty good deal. >> and the thing is, in an attempt to really, this turned out to be a nightmare and gm says they're going to buy them back and most people if they want to bring them in. >> ben stein, what do you make of it. >> i've always been suspicious
of electric cars, the batteries are extremely lethal when disposed of and stay lethal for a hundred years and the long-term effect on the environment is devastatingly bad. i'm not sure why we have them in the first place. >> neil: adam. >> well, i figured out that i'm the only optimistic person on this program. the rest of you want to see the chinese the electric car and the electric battery game. there's nothing to uncover here, the administration absolutely wants chevy volts and electric batteries in the united states to succeed. that's what that report-- >> no, no, adam, the point is do they want it so bad they put a dangerous product out on the street? that's the question. >> and if they broke safety rules, then they'll be, then they'll the get in trouble for that. that's not, i'm sure, what the administration wanted, was for people to get killed on roads in cars. that's not-- >> and adam. >> the intention, the point is
not intention, adam, it's negligence and incompetence. >> or, ben, maybe it's such -- so ideological blind. this is part of their eyed gi. >> you've heard the obsession with green energy. when they start catching on fire, and the crash tests and-- >> she's right. >> no, i'm saying-- >> and one more thing, police. >> let me finish my point. >> sorry. >> and you start worrying when stuff starts catching on fire because we own more than a quarter of this company and then you're talking about liability, and then you're talking about our money's on the line, when people start possibly suing general motors. but, to your point. 5 million dollars and all of
these incentives to the electric car companies, this is part of the agenda and it doesn't make any economic sense and i've said that all along and gm cooked this puppy up before we ever bailed them out. >> i'm not going to argue back, my aunt june used to yell at me with a southern accent and she wasn't from the south. >> i'm not yelling at you. >> neil: no, it's very effective. >> general loudness. >> neil: they effective. charles payne. >> i think to charlie's point the obsession with green energy is starting to look more like they've found a perfect conduit for paying off crony capitalism. >> absolutely. >> you look at some of the solar companies and-- >> ge. >> major funnelers. >> and why do i hate-- did i use today work, i forgot about that difficult time in my life. this isn't a perfect comparison, but remember in the early days of the space program he when those rockets blew up and then there was the apollo tragedy the astronauts died. you guys would have said, no
more space program. >> oh, come on. >> terrible idea. >> you're comparing these dopey green energy innings to the space program? >> are you really doing that? by the way every time i go to whole foods those parking space for the electric cars are vacant for some reason. why is that? >> for some reason because it will never happen, charlie, never be electric cars. >> the biggest problem for general motors and the government is that these cars simply aren't selling. gm said that these, the sales are going to come up about a third, a third short. we're pumping 7500 in taxpayer as incentives into every electric vehicle that's sold. what's the administration going to do double the fuel economy standards to force them to buy them. >> the inspiration in this is of gasperino going to whole foods. >> turkey please-- >> and you do not go to whole foods, that's a lie. >> i do.
>> neil: when we come back, i wonder what the g.o.p. hopefuls think about the volt? i might be asking them at the debates, kicking off thursday, with ron paul, and home depot founder bernie marcus, and questioning along with megyn kelly, chris wallace, we've got bret baier, we're doing jello shots right before it so it should be quite interesting once the debate ensues. remember this, any-- >> barack obama and i were literally sitting at a desk in a high rise in chicago, beginning to plan how we would try to get this economy out of a ditch. literally, the first guy i called was john corzine. (laughter) >> that's a far cry from this, forget about mf. more like mf?
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>> simply do not know where the money is or why the accounts have not been reconciled to date. >> neil: not the best man to be in charge of hundreds of millions to claim he doesn't know what happened to them. the former mf global ceo john corzine, the smartest guy, done in, the government could save the day and those who
place their faith in the government, and charlie gasperino, you said this is not a surprise he got what he got, but a surprise that we should be surprised that he did get what he got. >> i'm not quite sure what you said. >> neil: that we placed faith in a guy-- >> here is the thing, that corzine may be right that the european companies, he held bonds and short dated bonds in italy and spain. and the history of corzine, a bad risk manager, really, really bad and-- >> why was he trumped up as-- >> what people forget is the unprecedented nature of what happened at mf global. a bad at the time on european debt. that's why you see the markets fluctuating. you don't lose money in customer accounts. that never happens. it didn't happen at lehman, didn't happen at bear.
bigger implosions. >> we obviously put faith and markets put faith in this guy. >> john corzine is a very nice man, horrible has a manager and if he knows more about the economy more than anybody else according to the obama administration, that's why we have all of this unemployment. >> you need to-- i look at the banner, showing the faith in government. >> why are you spending your time looking a the banner. >> because i check for spelling mistakes, part of our job here. >> and another part-- >> and if you're thinking about moving your faith in government, well, if you're buying treasuries, you're doing just that, you're putting your faith in the hands of our lawmakers that they will right our financial problems and that's a very dangerous bet. they're loaning us money, loaning the government money at 2% a year over ten years, that's stupid. >> it's bewildering to me. 1.2 billion dollars in
customer money is missing and he didn't know anything. seems like he was sitting at a big desk, every time he put the paper in front of him. he signed it. >> the bet is turning out to be right. >> we're not there yet. adam, quickly? >> well, the sovereign debt has been a good investment for a very, very long time. this wasn't one of them so far. >> neil: okay. ben? >> i think the bet is going to turn out to be an extremely good bet, but to lose that money is simply inexcusable. >> you have the best line since the old steve martin line, i forgot. >> where is the 1.2 billion? i forgot. >> you can't go to jail for forgetting. >> neil: my thanks. and gone, baby gone, and some stocks that are here to stay, baby, stay. un. even futures and 4x. complex options, done. [ cellphone rings ] thank you. live streaming audio.
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deer is the way to playy it. >> construction play out. >> if you think we are going into a global recession in 2012, deere wouldn't be the best pick but i like it. >> you think there is a fear of global recession. >> i think there is a fear . >> we want a strong durable company . for example ibm that is doing nicelyy this year and will not go away period. >> ben? >> ibm is a well run company . transition from hard ware to consulting. i like exxon mobile. that is talking about a well run company. they are the tops. >> reall quicklyy to adam's point of a recession, do you share that? >> the double dip resessions are rare .