Transcripts For FBC Cavuto 20130917

Remember, that is the same thing that the government was saying after the 1987 stockmarket crash, Something Like it could not happen again. Until september 2008 something kind of like it did. Wall street landscape is so dramatically changed. A Lehman Brothers filing for chapter 11 bankruptcy. 6,309,000,000,000 in assets the linen brothers bankruptcy filing is the biggest in u. S. History. Where did it leave us and where does that leave the president ial candidates . Worst since the depression. Makes 1987 look like a walk in the park. They thought it would keep shooting up, but it did not. It does not mean the death of the economy. Far bigger. To take from everything going on on wall street and conclude that that means street is missing the surprising resilience of america. We will be okay. Well, nearly 700 billion sense, what have we really learn . The guy had to police where that supposedly bank rescue doe was going when he learned almost immediately it went to a lot more places than just banks. He is here now. Great to be back. Neil here were talking of a bit break where you were five years ago. I was a federal prosecutor in the Southern District of new york, securities fraud prosecutor running a mortgage from a group. All the things we have seen on a smallscale suddenly blowing upon a national scale. Here we are teetering on the brink of a total economic collapse. Was a remarkable time. Neil to do have any idea down the road the would be the guy policing the very find that was ostensibly used to bailout capitalism . To say that it was the farthest thing from my mind would be an understatement. Neil when did you get that role . Interviewed in october of 2008 and confirmed in december. At the time it was all kind of some real and unreal everyone seemed to need help. Not only question the financial restitutions, but those that were doing it relatively okay how did we get to let it sell out of control . The bill is very broad. What Congress Passed and treasury did created a very ambiguous term that gave the secretary of the treasury remarkable amount of discretion. All of that was within the four corners of the agreement. We started focusing on what happened to the money once it got out there, particularly when the banks are getting hundreds of billions of dollars and returned to focus on what theyre doing with it. Using it in the way we were told to help restore the economy so that we can have a robust recovery or otherwise. Unfortunately found out it was a lot more otherwise. Neil what do you think about if we had never done that . The argument for doing it is that we faced a depression and that it would have been just horrific. If i was the Decision Maker would not want to find out. The potential for it to be catastrophic was there. When i got there in december the panic level was very high. It is a counterfactual, so its impossible to know exactly what would happen. Neil that was the argument ostensibly. The world was shutting down. That is not necessarily mean that we did was entirely the right thing, but something had to happen. Institutions were too big to fail. By definition they were in we would have had if the dominance cub falling, it could have been catastrophic. Neil the argument is that is corrected too big to fail. I do not think that we have. That is very much in our faint thinking. Of course we would. That is a political argument and one that was put forward by the largest financial restitution, but the reality is that the banks are 20 to 30 bigger than they were. They are bigger, more powerful, interconnected. While we may be a little bit safer, it is a far cry from being safe. Neil what do you mean by that . Come listening to these institutions knowing of the government will have their back. But a lot of the premier ones want to get bigger to make sure that there would be insured and helped by the government. That and not see anything that is changed. There is a big profit in being too big to fail. You get to borrow money more cheaply because everyone assumes i can lend money. Add in not need to worry about it because the government is going to come in and make me absolutely. There is a lot of bad incentive. Incentivizing more borrowing, more money, more leverage. Incentivize is greater risktaking. That drives risk which makes things more dangerous. It is the perception of the bailout that drives a lot of these problems, and i think that is where we are today. We are safer, more capital neil but stocks marketing tanked. And will be the same toward the rear of trying to run through. And that is the problem. You have institutions that are so large and interconnected that the perception is that the failure of one will topple the economy. The bottom line is if that gets in trouble one way or another we will end up bailing out. Neil do you find it odd that the very market that we talk about today fears the day ben bernanke in the fed stops killing it with all of this money to keep it going . It is ingrained in our culture that we do not know what to do if the health goes . Our economy is in an extremely artificial place. We did not have the robust response. It is one that is based upon fed stimulus. A lot of ways, a fear of what will happen when we take the panel of the metal if you will. Neil Larry Summers out of the running for fed chairman. Much more inclined to keep priming the pump which critics claim the markets jump post the news. They want to see that coming. I really think a lot of this, the fact we are even having this conversation shows the failure of the policies in the aftermath of the financial crisis. It just was not there to stimulate the growth. We did not take care of the middleclass, struggling homeowners, icky Macro Economic. Neil we tried, but we constantly fail. We barely tried. There was never really a commitment. Neil your solution. Hundreds of billions of dollars available that ultimately went unused. Congress directed them to do something about the housing and foreclosure crisis. What we did was something far short, basically extending it out. Homeowners and didnt getting foreclosed upon, and we have that real chance of the Macro Economic impact of the sinking housing prices and massive foreclosures that we walked away from. Neil mortgage lending is coming back. We are not out to the races but certainly off the mat. You predict the argument that all is good. Well, all is good for some. But for those who are on the edge, they have been largely pushed over. The longterm unemployment. Trillions and trillions. Most in the bottom half of society. It will take generations to recover from. The bailouts were not supposed to just help the banks. There were supposed to hold help everyone. Neil it was confusing. Pushed by the same washington in the congress this said we want to see more lending, but we want to see it done judiciously. These are the same political types that are saying banks were not lending enough, so they pushed them into this behavior. So there is a sort of the jekyll and hyde of washington mentality to this. There certainly is. With one hand theyre pushing them in one direction and with the other hand theyre pushing back. As part of the reason why were where we are today. We did not have a comprehensive policy. Neil did you realize that the genie was out of the bottle, washington had already established a precedent. Bailout for one is a bailout for others, and if youre up against the wall the government will be there. Absolutely. When it comes to the biggest Financial Institutions the message was sent loud and clear and it was stated. Neil sliding into health care. What happened . Some of the other parts of the market. But really you look at the longterm impact will be. Neil ostensibly they got a pass. There were nationalized and now we are trying to wean ourselves from these mortgage lenders. But we have not. That is one of the more staggering things. Five years later the crisis, and they were the first of really massive bailouts. Their kind of still in the same situation, officially under governor government conservatorship, but the system is more or less exactly the same command we are still talking about whether we will keep it, change it. Neil do you think we should debate . My inner capitalist says of course. My realistic is what that would potentially due to the Housing Market in this country is sort of unfounded. Neil so many mortgages. Because we have become very accustomed to what it is to have government subsidized mortgages with a we call it one and pretend that we did not, its still there and helps make that possible. We have to decide what we what did we want something thats a little bit more flexible but maybe a little bit safer systemically without having the government on the hook. Those are big questions. Kind of amazing that we do not even some close to answering them. Neil to your point earlier, it could happen again. If we did not make fundamental changes, especially with the too big to fail model it is likely that it will. Neil okay. Meanwhile dont look now, its getting a lot more expensive and a lot more on popular. Why todays shooting in washington has given the nsa reprieve . How that could be the problem. Using the shooting as cover to continue. The pursuit of a better tomorrow is something we all share. But who can help you find your own path . Who can build you a plan, not just a pie chart . Who can help keep your investments on course, whatever lies ahead . That someone is a Morgan Stanley Financial Advisor. Who can help keep your investments on course, and were ready to work for you. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre 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. Were not simply saluting history. Were making it. Theyre the days to take care of business. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. Well the shooting in washington, i would not be surprised if some at nsa are relieved in washington, it takes focus off them, that is what happened every time there is an incident. Suddenly folks are back to worrying more about finding the bad guys than the government spying on us under the guys of guise of going after the bad guys, robert. Does this concern you . Does the whole thing concerns me. What happened today concerns me. I was a dearc agent, i know dea agent, i know what military bases are like, nsa, is really monitoring a lot of different terrorist activities. Putting networks together. Then have you Something Like this, one person, maybe a disguneled employee or got involved with the wrong people, and does something off of the radar screen. People will slip through the cracks, there is no doubt, no matter how well nsa does or ho w so face kated they are. I know that all of the snooping and all we had did not prevent boston, and not this. So, i know, nsa Security Breaches and the like are not really being discussed today because of this. But that is ma worries me. Under the guise of keeping us safe well forget about that. The worst decisions that lawmakers maker in response to a tragedy, they are not well thought out, they are kneejerk reactions, this was a tragedy, but end should never justify the means, to think that shooting will be used by those who believe that snooping is a good thing to say this why we need to turn our Democratic State to a police state, that is not tollable, we need to make decisions, not in the moment of a tragedy but in the moment of thinking it well, thinking have it well thought out. We could not even stop snowden, he worked for the very government, they cant police themselves, this should not be the lightning rod to justify it. Neil i look at uproar after nsa revelations about spying on peoples emails and bragging about able to access 75 of all email traffic, 115 million phone records, when the guy who helped write th patriot act coms out said enough this is over done, and joins with likes of nra, and aclu, talk about a cast of characters. I like it i am in the security business, i like to feel safe, i like to know what is coming my way. My business is get as much information as i can ahead of time, you know working in government, seeing now they are run, knowing that as long as they are not targeting individuals they are doing a wide link analysis, focused on Different International calls and emails, i dont have a major problem. 1 we focus on individuals, and once we focus on individuals and personal emails. That is the next step, that isny fear, once you have 115 million americans phone records they are not tapping anyone that we know yet but that would be next step, i wonder if i get caught up because a made a call to paris or morocco that is what worries me. Those line ofs that we love to use, the slippery slope, what comes next. If it was okay here, now we have this tragedy, lets move it over here and justify it, all of these catch phrases, what is going to happen to people who buy the new iphone, their fingerprint now government will have access to that fingerprint . To me, again, we live in a democratic society, we have a bill of rights and a constitution, 4 amendment, our rights to citizens to be free from unreasonable searches and seizures has been around for a long time, there is a reason for it, once that is taken away, the ends do not justify the mines, this will not be a happy place to live. Neil. 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Absolute please, i was so stock on that. Neil imagine being the girls gather. A huge inequality in america worst in history, going after food stamps, im sorry that is stuff that revolution is made of, why on earth 48 million get it . This is 40 billion worth of cuts over 10 years, why are not republicans going after cutting 100 billion wasted to corporate welfare, crony capitalism, okay 200 billion in farm subsidies, why not after trillio tril doll. Neil you would say it is okay after all but not selective. They need to go after other areas first, this is the stuff that revolution is played up with income inequality in america. Have you characters like nancy pelosi and new york state senator jil gill grand saying tt food stamps are good for the economy is absurd, look at meat, cheese, dairy, if you can buy sida and all these things that are off mark people are abusing the system. It is not just one important, i think it is a large percentage. Neil i dont understand 48 million. How many do you think really need it. I dont know, if you have people back to work we will have fewer people on food stampy woo doubled people on food stamps since the obama administration, doubled. Neil the republican approach is idiotic, and disrespect the only way to get food too. S isstood stamps to work 10 or 10 yours a week. So this is higher programs needs to be revamped. Neil 48 million. That is a lot of people, all political stripes want to make sure those who are genuinely hurting are fed, but you cannot tell me that 48 million would be in that plate. Have you look add the income inequality figures. Neil 48 million. But that is a long way from saying starving masses. Neil you think that 48 million . Yes, strugglin. Neil not struggling starving. 48 million is a fair number. I find it hard to believe, i dont think it is heartless to say so, the again program of made for people that were starving not struggling there is a difference. Neil i dont know where this goes for now, i would agree this is not helping republicans. If this guy is looking more president ial to the world, that is him with a jacky and the shirt on, then this guy, does history prove he is already a wounded boss and never will. Thank you orville and wilbur. Amelia. For teaching us that you cant create the future. By clinging to the past. And with that youre 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. Were not simply saluting history. Were making i it. [ male announcer ] now, taking care of things at home is just a tap away. Introducing at t digital life. Personalized Home Security and automation. [ lock clicks ]. That lets you loser to home. Thats so cool. [ male announcer ] get 100 in instant savings when you order digital life smart security. Limited availability in select markets. Limited availability in select markets. 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. Thats why we partnered with hp to build the new nascar fan and media engagement center. Hps Technology Helps us turn millions of tweets, posts and stories into realtime Business Insights that help nascar win with our fans. You really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you meone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . Neil it president s reputation so shaken he is looking at 3 1 2 years of getting throttled. A very big risk, like corporate bosses rounded from failed mergers or be plans and then stocks this president is losing stock with his shareholders, but shareholders would be us, americas taxpayers, you think he brand is damaged . It is damaged, he does have a advantage over corporate leade leaders. We know were with this president for next 3 1 2 years. The news will ebb and flow, he will be beat up, and beat up then say he handles this tragedy in washington, well. Or there is another incident, a hurricane, he goes and embraces a republican governor. And everyone says aw. You machinetion todays shooting. You mentioned todays shooting, he spoke about that, he talked about sadness, and this and that then just moved on to talk about the economy and all that, i dont think that today was date to da that. I think it was not known there were 1 fatalities. Neil he has lost his midas touch on a lot of crisis, he almost seems to be losing his step. There is the putin thing, a huge blow, he got taken out in his own country by putin, this is an embarrassment, they are trying as hard as they can to spin it you feel he has lost some wind in u. S. Sail, this is his second term, i guess a sense he knows he is in, i dont see him outwardly suffering that much or sweating it out, his spin doctors are working. Neil you mentioned a lot of corporate boss, in similar situations would be out on their fannies, some overcome very bad press, and lynch mob. Like netflix, and now they can do no wrong. So who is to say the same cant happen. History will tell us, it is rare away corporate leader, and then getting kicked on ut recovers, those cases are long, long way back, businesweek one of magazine had a cover story on steve case, a long load back after time aol disaster, and oversaw the worst merger, it has been 10, 15 years of coming back and doing things to come back. In his case he got the better of that deal . But he has been labeled with that deal. Obama because he controls his images all of the time has an easier shot, he can be on the news any day, and use any even that occurs to build up his reputation. Neil i always wonder, with george w. Bush, whether you like him or not, he would not get the same reviews. Right, it goes without saying that obama is getting benefit of doubt on most it is more critical than it used to be, given the media biassed today obama, when there is an opportunity he does something well, it will be played very large, as his come back story. He will get a boost when the moment arises. He is good add being our national consoler in chief. He may use that to once again show what he is good at, in touchiig people and putin stuff, will begun. Neil you could be right, obsess in the moment, forget it is the moment. Suzie welch, president today trying to sell people on Health Care Law, record numbers of folks are not buying it, they want no part of it, wha does heo about it . Plan plan my customers can shop around see who does good work and compare costs. It doesnt usually work that way with health care. But with unitedhealthcare, i get information on quality rated doctors, Treatment Options and estimates for how much ill pay. That helps me, and my guys, make better decisions. I dont like guesses with my business, and definitely not with our health. Innovations that work for you. Thats health in numbers. Unitedhealthcare. 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. Health care costs are growing at the slowest rate in 50 years, just two weeks from now millions of americans who have been locked out from buying Health Insurance, they are going to have a chance to buy qualify, a quality Affordable Health care. Neil president taughting healthcare law and the cost of the law but records of numbers of people do not share his enthusiasm. They should be leary. And senator, you say time is up. Well, people have to start enrolling in the plan in two weeks. They have a right to be concerned about cost, president did not speak in terms of the premiums that people will pay, they are up 2,000 over last year, it could never be anything but that because the essential gain is to take people who are younger and healthier, and dont need much Health Insurance if any, and their hell insurance would not cost Health Insurance would not cost much as a result, make them pay more so they can take care of those who are sicker, older, and not healthy and not change them as well. Half of the young dont realize they will have to purchase surge insurance soon or face a penalty. Neil there is a problem with the law. But what gives in rank with a lot of americans those who cooked it up dont want any part of it whether congress or unions, want exemption key architects, are staying out of the building, and that worries a lot of folks, should they be worried . You think i think it is important to give this some time, it is not yet implemented. You talk about that and a couple of weeks that is a big job to implement something this significant. You know that i think poll you referenced today, shows that not many people know the details, but of those who know details well, they are have a favorable opinion of it, lets give it a chance, to be able to get insurance with a preexisting condition, that is a huge benefit. And let me say with respect to johns point about premiums, the fact is that there are people now gettingrry rebates because f the provision in law saying Insurance Company has to move 80 of their revenue in premiums out in benefits, i am not convinced that this is not going to work very well, i should say different way, im convinced this will work but it will need some time, it will need help. Neil hope springs eternal, what trap el troubles me, a lot those people, from every one that you mentioned with preexisting conditioned, many are who paying premiums now have seen it skyrocket since the laws enactment, a lot of people getting those credits are still paying more than they used to, i know that part of issue that you think that republicans pound on. But do they risk going too far, by wanting to de fund the lay, delay the law, kill will law, you already this, what did you think . There is a political dimension to this, but there is also an. Tation dimension, no less than chairman of senate tunes committee, senator balk us from montana described this implementation as a train wreck. It is clear they are not ready for it, it is very complicated. This is what has people worried. You dont necessarily need to kind of a complex mandate for people to do something on the way that mandate to employers has been delayed for a year to cover people with preickiving condition, republican plan if they are smart politically will be to continue to talk about alternatives and let the public continue to reacted way they have to a plan they disapprove of by 53 . Neil had you had your druthers back then. Which pr priority have been plad with getting folks jobs than health carr coverage. Healthcare coverage, more people, while were off you know all of ropes where from where we are Unemployment Rate is high, and maybe this would have all been a moot point, our discussion now if the priority had been focused on jobs, jobs. Well maybe, but let me say, reality circumstance Health Care Law is law of the land, it will be implemented it will have significant benefits for the american people. Well see, but that is what i believe to be the case, the Unemployment Rate is coming down. Not as fast as i would like but it is, back to johns point about mack baucus talking about a trin wreck, he said that many months ago, he has since said after consulting with white house and all employmenttation folks since said he is well satisfied this is on the right path, that is an old quote, john, this is not going to be errorfree, but the fact is that 40 Million People will be covered with Health Insurance, in longterm well see just as when governor of massachusets, governor romney signed into law that bill, i think that type of program, very Similar Program will be beneficial to the american people. Neil but we have a lot more parttime workers in the meantime, i wonder if this Health Care Law is the reince for it and will continue to be. There seems be difference of 51 that it is clear klee a factor, but, a lot of people the economists say there are a lot of reasons why you have the very difficult Employment Situation new. But at least for those companies that take their employee hours down to 29 hours, it is clear the reason they do that to get under the 30 hours that is threshold for len laying, to translate that to folks ta may not have been paying pa much attention law requires an employer with a full time person, 30 hours or more, and you have to provide them this insurance or face a fine, they are taking their people down to a lesser number of hours work. Can i make a point. Since that bill was passed, Health Care Costs have not been skyrockets, they have abated some in terms of rate of increase, let celebrate a little bit of goodnews and help imminenimminent health care pla. Neil i love you dearly but you should see my premiums, they have been soaring, i dont know if i work at fox. I want to thank you bike. Thanboeing. Thank you. First mote pore city now windy city. We connect their problems. Um. Wheres mrs. Davis . She took an early spring break thanks to her double miles from the capital one venture card. Now what was mrs. Davis teaching . Spelling. Thats not a subject, right . I mean, spell check. Thats a program. Algebra. Okay. Persons a and b are flying to the bahamas. How fast will they get there . Dont you need distance, rate and. No, all it takes is double miles. [ all ] whoa. Yeah. [ male announcer ] get away fast with unlimited double miles from the capital one venture card. Youre the worlds best teacher. This is so unexpected. Whats in your wallet . This is so unexpected. Theyre the days to take care of business. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. Neil first detroit now chicago, in windy city looking that serious, s p downgraded citys bond for same reason they whacked federal governments triple a Credit Rating years ago, too much money going out not enough coming in. Citing staggering unfunded pensionl liability. Michelle who is liable there . The unions. Neil you know what happens is unions, they help all these democratic politicians get elected then they provide the overly generous benefits and retirement packages to state employees, it is ridiculous. Neil in the end, unions come back say, well, these were granted to us, given to us, if they were soge generous the city should have planned. But i know the logic of that but reversing it. They dont show any inclination . Well, i think a lot of politicians are scared of the unions, but something has to be done. What they need to do is raise retirement age, make sure that employees have increase their contribution, otherwise, what is going to happen well see a lot of basic Services Like police department, and fire department, and end up being cut we dont want that to happen but this will happen they dont have money, if they dont any anything they will end up like detroit. Neil whatever your views on this subject, if a city claims bankruptcy all contracts are obligated. 1 you declare bankruptcy there is nothing sacred, if chicago boats that without, unions that are protectioning all they got, risk losing all they have . Something has to be done, this is not something that happened overnight, they did not just wake up like this, this has been happening for years and year, now illinois is single most underfunded state in the country, they need to figure out pension reform. Something needs to be done. They never do they look for scaling back benefits, and no one as a good longterm plan for dealing with it republican and democratic governors and mayors, have found a way of issuing bonds or special municipal notes that get you through the hump but now were at the hump, and were in big trouble. We need to see real reform, i think that starts by raising require am age, it starts with retir retirement age, and increasing contribution, we need reform, im sorry, they are scared of unions but that is unfair to taxpayer. Neil always young people saying raise retirement age. Michelle thank you very much. Thank you. Neil if you think our conflict with syria is dying down, and a resolution is coming think again, investors think this will blow over and fast. Create the f. By clinging to the past. And with that youre 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. Were not simply saluting history. Were making it. Always go the extra mile. To treat my low testosterone, i did my research. My doctor and i went with axiron, the only underarm low t treatment. Axon can restore t levels to normal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant and children shoulavoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. Report the symptoms to your doctor. Tell your doctor about all medical conditions and meditions. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor about e only underarm low t treatment, axiron. Neil syria has defense stocks soaring. That is first up in our biz blitz. Whole region is a powder keg, investors seem to be betting it will explode. Is that part of the catalyst. Looking at syria, americans have a distasteful look at war in the game, they are tired of seeing our men and women coming home in body bags. Every time they push a button a chaching that government has to pay. So, if we look at technology, and next decade, 13 billiondollars estimated to be spent on cruise missiles alone. Clearly not today syria has cam down, over next Decade Technology and these weapons are a musthave. Neil some on the shosei it is opposite. They should fear all these defense stock investors should fear were going to retrench a little bit. And president might use reject in go to syria, a good reason, lets keep cutting . Well, this is not just about syria, it is about everywhere, all places in middle east, is a powder keg, it is still out there, as long as it out there the stocks will reaction, great point that were not going to really cut defense spending in a very big way, it still a huge part. Number one thing government is supposed to do is defense, it will be out there, and there is no doubt the stocks are reflecting it right now, if something bad does happen, expect the stocks to really kick to you were side more than they have. All right. Switching gears, issue 2 move, that whole program has food stocks moving more Michelle Obama pushing organic foods more people catch in on organic food and food stocks, shares of united natural and whole foods alltime highs today, maybe that is why olive garden is going healthier with smaller plates and healthier options. Gary k, you say there is money . That . Yeah, look it the way things are right now, shape of thins to come. This is a big huge business, i believe whole foods is set table forever this, and others are following, sprouts just went public also, and i think that will get bigger because, hell is very important, i health is very important this country is companying on to this with huge legs going forward. Neil well, not physically huge legs but smaller, thinner more muscular legs. Correct. Whole seconds for organic food, they get a higher margin those foods. Having said that, you know, Companies Like olive garden, they have an identity problem from all pasta you can eat, and all bread you can eat, they are limiting my portions now and drizzling them with olive oil . Come on. Healthy is in,alive garden really has to figure out what their core consumer is, and how to appeal to that, and they are all over the map. Neil you have to establish a brand and identity. Chilis bar and grill, making ordering easier. Applebees testing something similar. You are too young for this, remember we used to sit in the diner put a quarter in the had held us at the table, we ate more, we ordered more, what is old is new gain, just new technology, i love idea. I think it will work, i think will help. Bottom line, i just want an off switch, so when i look at my wife, i dont want glare from tv on there. Neil gary. What do you think . More restaurants are doing this, this is back to old days but with a hightech player. Well, it isa about bottom line, chilis has done study, and found checks are higher people order more desert and coffee, and that is helping business dessert and coffee, this is shape of thins to come, modern technology to stay, i think get bigger and bigger but i will say, if you are in the service business, as far as some restaurants, look out because i do think that will replace a few people down the road. Neil i am thinking of those workers demanding higher minimum wages, look at your future. We told them we dont need their jobs any more. Neil replaced by an ipad. Their worse enemy. Neil you think this goes beyond just this chain . I think whole Restaurant Industry will look at this, and they just remember these are businesses they care about their profits. Neil all right, chilis wins. Okay. Thank you both. Well get continue month oring 5 Year Anniversary of fallout on all of us our investment how safe we think our money is or is not each day this week, were looking at you. Ello, i am gerri, tonight on the willis want. Our special report user guide to education. Tonight, were tackling the question, is College Worth it . How do you do that . Navigating Housing Market the right way. After a redhot year, home prices beg to cool. And 5 years after the market meltdown, mutual funds about to look better but there have a catch, were watching out for you tonight on the willis repo report. We kickoff our users guide to