Skip to main content

tv   Studio B With Shepard Smith  FOX News  October 10, 2012 12:00pm-1:00pm PDT

12:00 pm
>>megyn: we are 24 hours away from the one and only vice presidential debate. it starts at 8:55 p.m. eastern for your analysis before and after the event. thank for watching. "studio b" with shepard smith starts right now. >>shepard: it is 3:00 on the east coast. i amhepard smith in new york. this is "studio b" today. the men who claim the state department ignored requests for security in libya testified in front of a republican-led house of representatives committee investigate the deadly attacks on the consulate in benghazi and the administration's response. what a day it has been. if you have not been watching, wait until you hear this. the former head of a 16-member u.s. military team in libya, lt. colonel wood told the house of representatives oversight and government reform committee, get this, the consulate in benghazi never had the forces it needed to protect itself.
12:01 pm
never. >> the security in benghazi was a struggle and remained a struggle through my time there. the situation remained uncertain and reports from some libyans indicated it was getting worse. diplomat security remains weak. in april there was only one u.s. diplomatic security agent stationed there. they struggled to obtain additional personnel but was never able to attain the numbers he felt comfortable with. >>shepard: a former state department regional security officer in libya testified, as well. here is what he said, that the united states could not count on lib jab security forces to help with security adequately. >> the libyan temporary government was unable to extend security assets to diplomatic missions in the ways we are expecting to see around the world. we could not rely on the libyan government for security, intelligence, and law enforcement help to identify emerging threats or to ask them for assistance in mitigating
12:02 pm
threats. >>shepard: before today, he told the committee in private in a private interview, that a state department official who oversees diplomatic security wanted to keep the number of security personnel in benghazi "artificially low." today, she suggested to the committee securing diplomatic missions around the globe and a constant struggle. >> i worked closely with more than 275 facilities around the world determining the right legal of security for each one. it is intensive and ongoing evolving process that i appreciate and understand from my own time on the ground as a diplomatic security for. >>shepard: she testified that she has never visited libya. today's hearing is after the state department released a report on the attack that killed ambassador stevens and three others. the officials say they never concluded that the attack grew from a protest. never.
12:03 pm
no protest over a low-budget anti-islam video. you may recall the united states ambassador to the united nations, of all people, susan rice, initially claimed loudly and over and over and over and over again that extremists hijacked protests over the video. there were no protests. the state department is coming clean today. the congress is asking questions. we have team fox coverage. wendell is at the white house. first we will go to catherine in washington, dc. this was an astounding thing to hear. i remember distinctly on five fund shows, the ambassador to the united nations said there was no terrorist attack. we believe this is the protests that got out-of-control. now we know there was in protest. >>reporter: that is right. as you recall, a day after those statements we were first to report on fox that there was no
12:04 pm
demonstration at the consulate in benghazi so there was not a demonstration that could spin out-of-control and land as a terrorist attack on the site. a short time ago at the hearing the republican chairman pushed the top state department witness over why the administration hung their hat on a single piece of intelligence that we believe is an intercept that losing tied the attack in benghazi to the demonstrations in cairo. >> what you are saying here today is that one piece of intelligence got you guys, yourself and secretary rice or ambassador rice, to make a wrong statement, five or six days later, and sunday is a long time after tuesday, so, you are saying you got it wrong and it stayed wrong. you didn't know any better between the 11th and the 16th. is that right? >> the information that was available from the intelligence community to both myself --. >> ambassador, ambassador, ambassador, you are a great witness historically.
12:05 pm
i asked you, did you have contrary knowledge over the five days? >> no. >> you didn't know any better for five days. that is your testimony. >>reporter: a heated exchange with a state department employee who over. >> the -- who over saw the security. >>shepard: there are more claims of the substandard security situation. we heard they wanted to keep the number of personnel artificially low. why in the world would do you that? >>reporter: the question today is whether the decisions on security were driven by a political agenda. that is one thing that the lawmakers are trying to get to the bottom of. you recalled on september 17 we reported there was no demonstration and the consulate did not meet the specific physical security standards laid out by the state department for a post in a high-risk area for terrorism or civil unrest. today, that fact was placed into
12:06 pm
the public record. >> did the buildings in benghazi meet the so-called standards? after the bombings in beirut we went back to the government and formalized minimum standards. did they or did they not meet the minimum standards? >> neither the buildings in benghazi or in tripoli, they did not meet the standards or was there a plan for the next phase of construction, what was called the "interim embassy," would they meet the standards. >>reporter: we heard from lt. colonel wood who oversaw the military security, he said the attacks including on the consulate could only mean one thing. >> when it was attack add second time they made the decision they would give up and leave benghazi. when that occurred, it was apparent to me that we were the last flag flying in benghazi.
12:07 pm
we were the last thing on their target list. >>reporter: one of the more surprising statements in the hearing is that the two state department witnesses, neither of them have been to libya or been on the ground but they made decisions that impacted the very physical security for the ambassador. >>shepard: wow. through it, today, the democrats on the panel are criticizing the republicans who were leading the investigation, right? >>reporter: some of them. the committee's ranking member accused republicans of cutting democrats out of last weekend's fact finding mission to libya and it was lawmakers who rejected calls from the president to get more funding for diplomats. >> the fact is, since 2011 the house has cut embassy security by hundreds of millions, below the amounts requested by the president. the house of representatives has done that. the senate restored some of the
12:08 pm
funds but the final amounts are below the administration's request. >>reporter: there are two things that have stood out at at the hearing today. one of the witnesses had personal contact with the ambassador, the undercurrent of sadness which is palpable at the hearing. you could feel it. it was clear from the testimony to those on the ground that it was really a foregone conclusion that the u.s. consulate would be hit by terrorists before the end of this year. >>shepard: we had already been hit by terrorists. >>reporter: we had, successfully, taking likes. >>shepard: like the precursor. >>reporter: there was a sense in the hague today that there was a series of drive runs if you will, which is not unusual for terrorists. they test what the security can withstand. there was, last summer, an incident where an i.e.d. was placed on the perimeter wall of the consulate. it blew open a hole but there
12:09 pm
was no real change to the security posture in benghazi. that is why we heard from lieutenant colonel wood that it was a foregone conclusion that the united states was in the crosshairs and they would be successful. >>shepard: let's who that up, they didn't do anything, that is how we will murder the ambassador, the first ambassador since 1979. we practiced. we got it right. we will do it. >>reporter: and a month later there has been no fallout. no one has dropped the hammer on the people responsible. >>shepard: the c.i.a. c.i.a. is still not there? >>reporter: to the best of our knowledge. it could have been a strike by al qaeda to flush us out of that area. >>shepard: the white house said the counterterrorism advisor met with libya's president and other senior officials in the capital city today in tripoli. they discussed how libya and the
12:10 pm
united states can work together to bring the attackers in benghazi to justice. work together. that comes on the heels of criticism over the handling of the murder of our ambassador. they first called it an "outbreak of protest after a video." we continue now with wendell from the white house. wendell, how is the white house defending charges against the characterization of this attack? >>reporter: the folks here say the administration officials were saying publicly what they were being told at the time by the intelligence community but some state department officials were saying privately after the attack that it was coordinated and carefully planned. some lawmakers were asking, why would protesters have mortars and rocket propelled grenades. the tendency was to link the benghazi attack with the protests against anti-islam film in cairo. the white house press secretary
12:11 pm
carney says every statement, however, included caveats. >> from the beginning we have provideed information based on the facts we knew as they were available based on assessments by the intelligence community. not opinions. >>reporter: he says it is clear security was inadequate and it is under review. >>shepard: lawmakers are saying lawmakers on the other side the aisle of politicizing it and it feels people on both sides of right. >>reporter: you are right. republicans think the administration was reluctant to admit to a successful attack by al qaeda or al qaeda-affiliated group given the claim that al qaeda is on the run, according to the president. senator corker who just returned from benghazi says u.s. ambassador susan rice insisted for too long the attack came from a breast. >> i look at susan rice, five days later, there is no
12:12 pm
question, no question beyond a shadow of a doubt that it was known differently that this was not about any film. she candidly, my theory, and i don't know, we will find out, someone will write a book about this, but she was then under the bus. >>reporter: democrats expect the hearing was to make the administration look bad. republicans argue maps of the compound available in google should not be shown in opposition. >>shepard: it may have made the administration look bad. we have learned the terrorists attacked the consulate long before this and they warned us on facebook they would do it again. they difficulty. they murdered our ambassador. the first american ambassador murdered overseas since 1979. right before america was held hostage. they did not even tell us about
12:13 pm
the first strike. we will speak with an expert on this and try to get to the bottom of it on capitol hill. this is "studio b." we are glad to have you joining us. [ feedback ] attention, well, everyone. you can now try snapshot from progressive free for 30 days. just plug this into your car, and your good drivin can save you up to 30%. you could even try it without switching your insurance. why not give it a shot? carry on. now you can test-drive snapshot before you switch. visit today.
12:14 pm
12:15 pm
12:16 pm
>>shepard: on hill million right now they are talking about the attack that happened on 9/11 of this year that killed our ambassador. you can listen. >> i don't know about what is classified or not classified. i sat in a members only briefing and this was on september 20, with secretary of state, hillary clinton and other personnel. can we talk about that? or not? >> if it was in a classified setting the only thing that i would think is appropriate is any inconsistencies you have seen in testimony today you could relate. otherwise, the specifics i could
12:17 pm
not judge. >> it comes down to what caused this? miss lamb, i have read your testimony. it would be horrible to watch what was going on. and the same night i read another account, at 8:30 p.m. the ambassador said good night to a visiting turkish diplomat and the streets were empty but at 9:40 p.m. an explosion was heard by agents located in building b. it is absolutely preposterous to me that we would watch ambassador rice go out and say, five days later, i would sit in a briefing and, no, you have it all wrong. this is not a terrorist attack. this is a result of a 15-minute youtube. we are in denial or, unfortunately, and some of the members are concerned because i have to tell you it is very
12:18 pm
unfortunate that terrorists don't recognize this is an election year. they tend to do what they want any time they want and when we have a weakened position around the world we leave our people as unprotected and we say, this is terrible because this is 27 days before an election, why are we bringing it up now? i ask the same question: where the heck were we before 9/11, this 9/11? why weren't we questioning it then? my goodness! 230 security instances in libya between june of 2011 and july of 2012. of those attacks, 48 took place in benghazi and two at the diplomatic compound and the scene of the 9/11 2012 terrorist attack and you say it the result of the video on youtube? this is based on intelligence. listen, i have to ask you, you say you could not possibly have had a different idea than secretary rice when she went
12:19 pm
before the nation on september 16. this thing smells. from every angle. it wad democrats like -- wad democrats -- it waddles like a duck and it quacks like a duck, it's a duck. we have four americans dead. i have to tell you it is upsetting to go home and look the people in the eye, people who do not do what we do, all the briefings and the intelligence, just guy whose work and women that go out and work and they come home and they can figure it out but we try to figure it out? and you watched it in real time. my gooded in, my goodness, the terrorists decided to just go crazy. and africa is on fire. thank you for pointing out as mitt romney did, hope is not a
12:20 pm
strategy. i feel sorry for you and lt. colonel wood to come here, you are on the ground not watching far away, your people are not there in real time. we have watched our colleagues be killed. the question isn't what we know, it is because we have become lax. >>shepard: congressman kelly of pennsylvania is asking questions or testifying. the facts are what are more interesting to me. we were warned this is coming. they asked if security. they did not get it. now our ambassador is murdered. with us now is a senior fellow at csis, international security program, rick nelson. risk, for his part, has been a former navy helicopter pilot with 20 years of intelligence experience.
12:21 pm
rick served in afghanistan, as well. thank you for your service. they want to talk about the political stuff. that is not interesting to me. what is interesting to me and might be interesting to the people at home watching as some of them with their jaws drop, is that first of all, the man who is in charge of the security detail there has said from the beginning in the testimony that we don't have the security need for our americans who we went over to seven us. then the terrorists struck us at that spot in benghazi. but no one toll us. then they put on facebook they would attack again. no one told us. then they attacked again and they told us it was not an attack but they were looking at video and they got excited. something ain't right. is this going on like this around the world as we nation build? are automatic of our people sitting ducks? >>guest: what this reminds us, each day we have thousands of american diplomats and aides
12:22 pm
working overseas in high risk environments. we have an obligation to ensure that they are secured adequately and we provide the funding and resources to ensure that safety and security. we need to see from the hearings is not blame. >>shepard: after the commercial we will pick it right up. hang on. . delicious and wholesome. some combinations were just meant to be. tomato soup from campbell's. it's amazing what soup can do. throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day men's 50+.
12:23 pm
12:24 pm
12:25 pm
to support cell health. extra curricular activities help provide a sense of identity and a path to success. joining the soccer team. getting help with math. going to prom. i want to learn to swim. it's hard to feel normal, when you can't do the normal things. to help, sleep train is collecting donations for the extra activities that, for most kids, are a normal part of growing up. not everyone can be a foster parent... but anyone can help a foster child. >>shepard: before that nice commercial so rudely interrupted us we were talking about the fact they told us they would murder our people, we did not increase security. then they came and murder our people. a senior fellow from international security firm is with us, a former navy helicopter pilot with over 20 years of experience including working at the national counter terrorism center. is this how it is everywhere if they ask for the security and they don't get and it they kill
12:26 pm
our guys? >>guest: what it demonstrates is we have thousands of americans, diplomats and aide workers deployed, serving in high risk environments and we have an obligation to ensure they are adequately protected with the resources needed. again, assigning blame is the easy part in this exercise because there is going to an lot to go around. what we need to do is take corrective actions to ensure we don't see this happen again. >>shepard: that sounds absolutely right but it reminds me of 1993 at the world trade center. they came over here and tried their damnest to murder everyone in the building that time. what did we do? we increased security, blah, blah, blah, they declared holy war on us, they said we're coming, and they came and we acted surprised. this is shocking, certainly, but surprising? really? after they told us they were going to do it, we're surprised?
12:27 pm
no one can be surprised. >>guest: what i found interesting about the attack is this is sophisticated and unprecedented. i am not sure whether we had three or five security on the ground. >>shepard: we only had one american security for our ambassador to libya. by the way, the man would helped "free" the libyan people, and i thought this was interesting, the question was asked by a representative, how many surface-to-air missiles, shoulder-fired surface-to-air missiles that can shoot down our jets, how many are missing or unaccounted for? i wondered what the number was, five or ten. the answer is, between 10,000 and 20,000 and we have diplomats over there hanging out, ready to be murdered? what are we doing. >>guest: we adequately prepare, we are prepared to keep the individuals safe and secure. identifying the failures in the system is what is important
12:28 pm
going forward. we will continue to operate in the unstable environments. >>shepard: i don't trust anyone to do that. what the terrorists did, they put a bomb on the wall and they blew the wall out. well, we can blow the wall out. see if they change security. we didn't. now they murdered our ambassador. we don't seem to be learning from our mistakes. we did not learn in 2003 when 2001 came around, we did not learn about the first attack when they murdered the first ambassador overseas since 1979. it seems like we could be trying to do a little bit too much, doesn't it? maybe we are trying to do too much. >>guest: we have a very adapted enemy in the war against al qaeda and terrorism. it is far from over. we will have to remain committed to this as we saw by the attack. there are individuals that are continuing to seek and harm the united states, to harm the facilities and we need to remain vigilant and fund and resource the capability. >>shepard: part of the testimony today is that the
12:29 pm
republicans in the house of representatives, they cut back on security. we don't know. this is all election stuff. it will be republicans yelling at democrats and democrats blaming each other. that is what they do. they are skirting over the fact that the terrorists told us they were coming to benghazi. they blew up the wall. they told us, we're on the way. we left one security guard and a man who risked his life for years and years for the people of libya, was blown up by them. now there are 10,000 to 20,000 surface-to-air mills ready to shoot our jets out of the sky. where are we going does back to libya. thank you, sir. >> governor romney is sending a second day in must-win ohio and new word that the strategy may be starting to work in that state. we will have the latest polling numbers. this is "studio b."
12:30 pm
12:31 pm
i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay.
12:32 pm
and could save you thousands in out-of-pocket costs. to me, relationships matter. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral to see a specialist. so don't wait. call now and request this free decision guide to help you better understand medicare... and which aarp medicare supplement plan might be best for you. there's a wide range to choose from. we love to travel -- and there's so much more to see. so we found a plan that can travel with us. anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. remember,
12:33 pm
all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you thousands a year in out-of-pocket costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. >>shepard: the united states antidoping agency reported that lance armstrong was at the center of one of the most sophisticated doping operations in recent sports history. lance armstrong. the agency reported they will release a thousand pages of hard evidence against lance armstrong including sworn testimony from more than two dozen people including 15 bicyclists with direct knowledge of his doping activists on the former cycling team. the agency reports they are required to release the details of the investigation after they
12:34 pm
decided to give lance armstrong a lifetime ban and strip him of the last tour de france titles back in august. no comment from lance armstrong. when we got the comments from lance armstrong, that was back when he was winning tour de frances saying, i am not doping. now they have a thousand pages of evidence but he kept the endorsements. he may lose the title but he keeps the money. >> politics now. governor romney campaigning today in ohio. everyone is in ohio. everyone. you have to be in ohio. potential must win for the former governor, considering that in republican has won the presidency without winning ohio. polls show he has gained ground there. there is a cnn survey finds president obama's lead is in the margin of error, 51 to 47. mighty close, anyway. other new surveys show a tight erase. the average of all the polls has the president ahead by less than one point. that is in the state of ohio,
12:35 pm
ahead by .8. aides of obama are seizing on comments on abortion, accusing the republican of misrepresenting his position when he told a newspaper and i quote, "there is no legislation with regard to abortion that i'm familiar with that would become part of my agenda." a romney spokeswoman walked that statement back saying he "would, of course, support legislation aimed at providing greater protections for life." >> obama aides say the governor is distancing himself from his own views to win overwhelm voters. carl cameron is live with the news in delaware, ohio, the city and the state. that has been the claim, because there are documents that show that was the position. now, that is not the position. >>carl: well, running mate paul ryan, the governor's aides say his position has not changed
12:36 pm
and he is the pro life candidate and president obama is obviously the pro choice candidate. obama campaign is pounding the government for this saying women should not trust governor romney. he is trying to move beyond it. there is an open question whether it will be an issue between the vice president biden and romney's running mate, paul rea has been closed off for a thousand folks for a stop at bun's restaurant. they were in points near mount veteran on, both governor romney and governor chris christie. >> get the government get out of the way and you succeed. >>carl: you not likely to hear romney use words like "hell,"
12:37 pm
but chris christie got it out in the first couple of seconds. romney will campaign in ohio today but the big event is the presidential debate tomorrow and more and more polls show romney has regained the lead. the momentum is here, and there is increasing anxiety among the democrats over worry that the president could be losing. with to new momentum, mitt romney is going back to the economy, pushing hard on jobs and the idea that the obama record ask not deserve re-election as he has been saying now since the convention, saying the country cannot afor another four more years of this. >>shepard: thank you, carl cameron coming from delaware, ohio. >>shepard: this is on the east of the first and only scheduled vice presidential debate with less than a month until the election. polls are tightening. the stakes are high. vice president biden under
12:38 pm
pressure to reverse the momentum after the lack of president obama's performance and the v.p. has decades of experience and he has had some great debates. youtube, google it, look it up. but he has the reputation for gaffes which makes it great. paul ryan, owns has lots of different specific positions but he hasn't mentioned them the maybe he will capitalize on the momentum tomorrow. he made a name for himself in congress but is a newcomer to the national stage. with us now is a former consultant on president obama's campaign back in 2008 and a republican minority leader and new jersey state assemblyman. it is fun when you get two "johns" on one set. tomorrow, the big question, really, obama got a bump after his convention because people on both sides think his convention went better than the other guy's position. he got a bump this. there is a new bump that came
12:39 pm
from governor romney in the last debate. there is an argument you can make this is more significant because did he just give them an alternate to obama? if so, if they have done that, the people on the fence, has the race fundamentally changed? >> it was not a bump but a complete change. no question. the momentum changed. this is like the last couplingings of a baseball game and now biden has to go in and swing if the fences. when he swings for the 15s he does his gaffes. >>shepard: they said that about romney and he swung for the fence and kept hitting them out. >>guest: every time he had a debate with gingrich in the primaries. >>shepard: he lost the gingrich debate. >>guest: he won the primary. the problem with biden, he has to makeup for all the lost ground obama lost and he has a tough road ahead of him.
12:40 pm
>>shepard: what do you think? >> governor romney had a good debate with 67 million people watching it. he did a very good job. i love baseball but i would take the baseball analogy and say he got a couple of runs, in doubt. but he is behind. you look at the electoral map and what appears to be movement back to president obama and the tracking polls, it is hard to know how big the bump will be. there is a burn. no two ways about it. >>shepard: if you were going up against ryan, what would you try to get him to talk about? >>guest: frankly, i would call him out on his b.s. >>shepard: specifics? >>guest: he is hailed as a deficit hawk but his own budget doesn't balance until 2040. the olson twins will be 54 by the time it is balanced. >> if you taking your money, who do you give it to?
12:41 pm
joe biden and president obama or ryan and romney? >>shepard: but don't you think people want specifics? >>guest: what they --. >>shepard: you are saying you will not mess with the deficit but you are not adding more tax money. if you don't add more money, how does it work? explain that. >>guest: those details are talked about. >> stimulating the economy, the president has not laid out his plan and they are saying, why doesn't governor romney lay out his plan. he has done it over and over and over again. >> he talked about cutting big bird. >> i would rather be on the side of momentum. >> if you are driving across the country and you say you will do it in 15 years can you not do that unless you speed. that is what mitt romney is saying. >>shepard: they both say they will fix this but neither has told us how.
12:42 pm
it stands to reason that the american people would go, you should tell us how but they are not going to. >>guest: i think we will hear it from the vice president. >> i would love to hear the details. >>shepard: all right guys, john, john, everyone is john today. we will be in kentucky tomorrow. i will miss the fox report tonight because we have to fly. we will be there for the stuff tomorrow and i will post it on the broadcast network, and bret baier and megyn will host it on the news channel, going a few minutes before hannity's time slot. the feds have slapped a lawsuit on wells fargo for taking actions that cost the government hundreds of millions. wait, wait, wait, cost the government? what they really mean is, it cost the people. so if wells fargo paid hundreds
12:43 pm
of millions in fine are they going to give that back to the people? what do you think in this case? dealer staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day
12:44 pm
can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benets with theisks. all prescription nsaids, like celebrex, ibuprofen, naproxen, and meloxicam have the same cardiovascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increases if you have heart disease risk factors suh as high blood pressure or when nsaids are taken for long periods. nsaids, including celebrex, increase the chance of serious skin or allergic reactions or stomach a intestine problems, such as bleeding and cers, which can occur without warning and may cause death. patients also taking aspirin and the eldey are at incrsed risk for stoch bleeding and ulcers. do not take celebrex if you've had an asthma attack, hives, or other allergies to aspirin, nsaids or sulfonamides. get help rightway if you have swelng of the face or throat, or trouble breathing. tell your doctor your medical history
12:45 pm
and find an arthritis treatment for you. visit and ask your doctor about celebrex. for a body in motion. or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today.
12:46 pm
>>shepard: new video into fox news. lock abdelbhaset -- look at thi. minutes ago an amusement park ride came down, an implosion, at six flags over texas, and officials had to get rid of the 36-year-old texas shootout. listen to it go down. they are making room for a new ride. that is big news. >> the largest home lenders is wells fargo and faces charges they hid the truth of thousands of mortgage loan they certified for a federal insurance program. a mortgage lender hid the truth. crazy, right? ultimately it costs hundreds of
12:47 pm
millions when the loans failed. the feds have sued wells fargo for fraud spanning a decade. the lender says wells fargo denies the allegations and believe we acted in good faith with federal rules. and now, we have author of "rebounders, how winners pivot from success." wells fargo did not do anything wrong? >>guest: you are cynical to the banks, it sounds. >>shepard: i read the words and most of them are nothing. >>guest: it is a familiar story. the better question is, would hasn't been accused of issuing bogus mortgages during the housing bubble in a familiar story that has happened with other banks. the government guarantees the loans and they said that wells fargo took over another troubled lender and that happened in 2008
12:48 pm
so some of them may go back to the other bank. but a lot of them were not underwritten properly and they did not vet properly, and they gave mortgages for those who could not afford it just churning out the fees and packaging them into securities. they were the so-called toxic securities that were involved in the meltdown. the government is saying, the f.h.a., they were on the hook insuring the mortgages and the federal government wants the money back. >>shepard: the shocking thing is that the government did not think this could happen when they changed the rules under the clinton administration. remember that rule change? >>guest: the irony is this was designed to get more people into homes. >>shepard: this is how it was supposed to work. >>guest: the banks are supposed to say we police the rules. the f.h.a. doesn't. the government doesn't checkup on you to trust you conform to the standards.
12:49 pm
but when they blow up, the government can come back and say we will place a claim on you. >>shepard: that is how the government set it up. when you change the rules to that degree, for instance, if you tell the inmates inside the asylum, here are the keys and here the guns, take care of this and they blow each other up and start escaping and you act are lying. >>guest: everyone is complicity. congress wanted to do this, both parties. the borrowers are many people who should not have gotten a loan and they are worse off because they had a house for aee or three years and they had to default. we are all worse off to the extent this has destabilized the whole financial system. we almost had a depression. people are still struggles to get loans. we are all losers. >>shepard: it could happen yet, the depression. >>guest: it might. >>shepard: a passenger landed at a major u.s. airport with an
12:50 pm
arsenal in his luggage. an arsenal? yes, a smoke bomb, body bags, and more. what were the weapons for? how did he make it on the plane in the first place? we will ask the t.s.a. next. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally.
12:51 pm
12:52 pm
12:53 pm
>>shepard: the feds now say a guy managed to board a plane to los angeles with enough weapons to inflict serious damage. weapons. the security team caught him after his flight arrived at lax on friday. he was stopped when he had a bullet-proof vest on. guy with bullet-proof vest, ask him a question. he also had a knife the when screeners looked at his luggage,
12:54 pm
he is what else they found. a smoke grenade, a gas mask, three leather coated billy cubs, a collapsible baton, a hatchet, body bag, handcuffs and of course more knives. the passenger did not have any link to terror groups. now, jonathan hunt is here. lamb -- lax was not the first stop. >>jonathan: the japanese and korean equivalent of the t.s.a. have questions to answer. as far as officials are aware, this pan, 28 years first boarded a plane in japan. he then flew to korea where he boarded the flight to lax. the question is, where did he get the items in as soon as he land at lax he was stopped by custom officials. >>shepard: was everything in the checked bags in
12:55 pm
>>jonathan: it is not legal getting on a plane with flame retarrant pants or a bullet proof vest but it is illegal to carry the smoke grenade but the other things, a lot of them are possibly legal. the only other thing that could be illegal according to state laws are the collapsible baton and the billy clubs. obviously, a lot of questions need to be asked according to all security experts. >> you do not carry body bags and all the weapons that could hurt or kill people because you are going to a party. he is part of a bigger portion of an investigation by boston police and los angeles police. they have to find out what is behind these things he was bring back. >>jonathan: and now, again, a smoke grenade, a collapsible baton, a full face breathing machine, body bags, biohazard
12:56 pm
suit, handcuffs, leg irons, and a device to repel dogs. he was either on the way to a heck of a halloween party or something more sinister. >>shepard: i read seconds ago that walmart workers threatening to walk out on black friday. maybe he was prepared for a shopping adventure. it will be like filene's basement on acid. >> staystay tuned.
12:57 pm
12:58 pm
12:59 pm
>>shepard: a privately owned cargo ship has made it to the international space station, docking successfully the first commercial flight to the space station part of $1.6 billion project in a contract between nasa and


info Stream Only

Uploaded by TV Archive on