Italian based banks. That means credit cards and atms. Cash only. David have a great weekend. Melissa im Melissa Francis and heres whats money tonight. A gun store misfire. One georgia dealer wont sell Assault Rifles to civilians and in response, the local police refuse to do business there anymore. The county sheriff is going to join us in just a second to explain why. Plus, are you happy about todays jobs numbers . Good. Then you wont mind at this rate it will take most of my life to get everyone back to work. Todays money panel crunches the numbers. Thank you, america. A major ad bliss by aig gives thanks for its 182 billion bailout but reminding people you almost went bellyup seems like an odd way to increase business to me. We have a marketing guru here to break it all down. Even when they say its not it is always about money melissa all right. First lets take a look at the days market headlines. Stocks closed out a banner week, unexpect ledly strong nonmanufacturing activity and december jobs report coming in line with expectations. Helped to boost the s p 500 to a fiveyear high. It soared 4. 6 for the week. That is its biggest gain since december of 2001. Gold bugs taking i had on the chin yet again today. Prices were pounded for a second straight session driven by news the fed may roll back stimulus measures by the end of this year. Gold settled down nearly 26 at 1648. 90 an ounce. It posted its sixth straight weekly loss, getting hit real hard. Vix fear index rise in september turning into epic collapse. It is at the lowest level since october. Falling 40 this week in the wake of congresss fiscal cliff deal. Tonight we start with guns. That is a sensitive topic these days for sure why this particular story really caught our attention. Georgia is one of the countrys friendliest states for gun owners but one dealer, dana Safety Supplies says, they will no longer sell semiautomatic Assault Rifles to the public at all. They will only sell them to Law Enforcement officers. Well, now the local sheriff there who has bought guns from the store, for the past five years, says he is taking his business elsewhere. Sheriff scott berry, joins me now. Thanks for coming on the show today. Explain to me glad to be here, thank you. Melissa thank you. Explain to me why you made this decision . Well, its real simple. The lawabiding citizens of my county cant go there and buy a legal to obtain rifle that theyre entitled to buy and they have the money to pay for, then im not going to spend their tax money there and im not going to spend my personal money there. Pretty straightforward. Melissa wouldnt it make your job easier if there were fewer Assault Rifles out there . There is millions of Assault Rifles. Well get, lets take a word Assault Rifle off the table. There are millions semiautomatic, millions of semiautomatictic rifles out on the market right now and statistically, an insignificant number of them are used to commit any kind of crime. Rifles of any type dont bother me. Handguns any type just dont bother me. The truth is in the hands of criminals theyre tools of evil. But in the vast majority of hand theyre owned by lawabiding citizens anddif my lawabiding tax paying citizens cant go in there and buy a rifle then im not going to spend our rifle to go in there and buy a thing. Melissa why would you say take the phrase Assault Rifle off the table . What bothers you about that. What is an Assault Rifle . The definition of an Assault Rifle is as wide and as broad as the building im sitting in. An Assault Rifle in my definition is military weapon that is designed for military purpose. Semiautomatic rifles just arent Assault Rifles. You can call them Assault Rifles but thats not what they are. Melissa the Brady Campaign to prevent gun violence gave georgia an eight on scale of zero to 100 in terms of gun regulations and one of the reasons obviously, that is very low score if youre getting scale of 8 of onetoone00. They include no limits on guns purchases. No required background checks for gun show purposes and no ban on assault weapons. What is your reaction to that . Well, im actually, i was kind of hoping we would shoot for a lower number than that, but since we got an 8 let me address some of those issues. I dont know where they get this gun show purchase thing. In america, and in georgia, lawabiding citizens can buy and sell guns in the parking lot or on the floor of a gun show. Just as i can sell them in ocone county or wherever i happen to be. I can legal le sell my gun to somebody else. If you buy from a dealer at gun show you go you there the same process that you do at a standalone brickandmortar dealer store. So that to me is just, thats a scare tactic if you will. I dont buy into that whole thing. As far as some of the other problems i have with it, listen, georgia is a, georgia is a state where we truly believe that the Second Amendment exists for a reason and the Second Amendment exists to lawfully, law full citizens to be able to carry and buy firearms. It is that simple. And brady is not going to like it. Brady will never like the state of georgia. Melissa especially in the wake of what happened in connecticut there isnt a reason for people to have automatic weapons. That these type of weapons that shoot so many rounds so quickly, when you do have a bad person with a gun, it does, you know, up the death toll. It does make it a more dangerous situation. What do you say to people who make that argument . Well, first off, again, theyre blaming the tool for the person. In colon, germany where they have very strict gun control, a man made a flame thrower in order to take to a school to burn nine schoolchildren alive. Were blaming a tool for the persons conduct. The truth of the matter is, the tool is lowhanging fruit. That is what a politician can pass a bill and wave it in front of people, look it, weve done this. Weve taken pistol grips off rifles therefore it is safer. That is absolutely ridiculous. Anybody that doesnt see it that way, i cant convince them otherwise. Melissa what has the response been like in your community . Because one of the arguments is that by taking your business away from this gun store, away from dana Safety Supply, that youre taking away significant part of their business and that it could cause them to lay off workers or shut down . I havent heard that. I dont do enough business with dana Safety Supply to hurt their bottom line. I cant imagine that is true whatsoever. Although i have bought from dana Safety Supply. Dana safetity supply doesnt exist because i buy from them. We buy from a lot of vendors and put out bids for different things. In fact we had a bid for semiautomatic rifles. We bought six more from another vendor because we wouldnt use dana Safety Supply. We just took delivery on those guns today. Melissa when you say you were pulling your business from their store, what is their response . As of this minute i have not heard a single word from dana Safety Supply. Melissa okay. Thank you for coming on our show tonight. Yes, maam. Have a great day. Have a nice weekend. Here is the money question of the day does dana Safety Supply decision to sell automatic rifles only to Law Enforcement make them more or less likely to give them your business. This got people riled up. Only one person said they would be more likely to do business there. Everyone else said they would be less likely to go there. We want to hear from more of you. Facebook. Com melissafrancisfox. Or follow me on twitter at melissa f francis. Moving on to the jobs number. At this rate it would take almost seven years for everyone without a job to get back to work. Only if it were that easy. My power panel is here to crunch the numbers. They said it would take twice as long if not more. Joining me, economist, peter morici, cain realty ceo john cain and peter from pioneer investments. Peter, i want to start with you because it is almost impossible to do this math to figure out how long it would take. You did your best today, and you said it would take a lot longer than we think. It may not even happen at this rate . Well at this rate it cant happen because im getting an echo. Melissa uhoh. At this rate it really cant happen because we need 125 to 10,000 jobs each month just to deal with population growth. So the net gain is very small. It would lower unemployment maybe. 2 of a percent each year. At that poise it would be 10, 12 years more. Simply well have a recession before then. We would never get there. We would be talking to slowly to catch a moving wall. Melissa go to john. Maybe we can straighten out peters hearing problems. I hope someone can help him out because we need him in the discussion. John, what do you think of todays jobs number. Getting feedback, guys. Melissa at this rate it would take forever to get everyone back to work . Well, found northly i dont think many of us were surprised by the jobs numbers. I think well continue to be mired with heavy unemployment for a long time to come unless we start changing the policies that this administration and this congress are putting forth. Melissa sam, what do you think . Im not sure that i would completely agree with peter that it will take forever. I think were grinding forward slowly but think idea well ever go back to 4 unemployment is a little bit too optimistic. I think Something Like 6 is achievable but i would also agree with peter a recession out there in the future is likely to mean that it could be quite a while before we get there to the current baseline. I agree with john that a lot of blame has to be placed on the governments policies. Melissa sam, saying 6 would be the new normal, that is a horrible number because were were standing right now at 7. 8 , we have 20 two Million People who are not working as much as they would like to or totally unemployed, 22 Million People who to earn more money and work more hours in order to support their family. If we tick down to six, that can be americas future. When you have a government that pays people to be unemployed, where the people can retire early and that baby boomers are retiring, when women of child bearing age choose to stay home with their families, 4 unemployment is not really normal. Thats, thats really, when we look back when we have had 4 unemployment in the past it is typically been in periods when we had significantly rising wage pressures and inflationary pressures in the u. S. Economy. 4 unemmoment has usually been just before big problems emerged. So 4 is, in that sense i dont think a reasonable, longterm achievable norm. Melissa peter this, is one of the slowest recoveries we have ever seen. What is the problem . Well the problem has already been outlined. The chamber of commerce types say, well, businesses need certainty to invest. They have got lots of certainty. They have higher taxes. More regulations and Rising Health care costs. And morning after they got higher taxes the president promised even higher higher taxes by saying any spending cuts would have to be balanced by more taxes. You know the cost of capital in the United States is very high if youre a Small Business. They dont go down to the Jpmorgan Bank to finance themselves. They finance them service out of their earnings their profits. Raising on a business that makes a Million Dollars a year the governments take by 40 to 70,000, maybe a little more, plus state taxes that makes capital very expensive an very tough to create any jobs. This administration is making war on small entrepreneurs and Small Businesses. Melissa john, is there any hope that then out there are getting belter . When i look at what the market did this week, for example, we were talking about that the s p sitting at multiyear high. Maybe that is predictor of things to come in the future. Actually it is Getting Better faster than we think . I dont think so. I agree with peter. Unfortunately this administration and our congress put some handcuffs on employers and people that are job creators out there there is no reason to create jobs. Everything they have done in the last 4 1 2 years has been a detriment to job creators. It is not, it is not in favor of that. When we continue to have unknown costs that are continuing to rise and rise and rise, people are not willing to take risks and create jobs. Until we change those policies, i think youre going to continue to see a very a peoplic recovery. Melissa im glad youre talking about spending and Government Policies because were going to stop right where we are right here. We have more to talk about with our power panel on the other side of this break. For example, like one senators suggestion, the only way to get Government Spending under control, is to shut it down. I love that idea stick around. We have more money coming up. [ male announcer ] where do you turn for legal matters . At legalzoom, weve created a better place to handle your legal needs. Maybe you have questions about incorporating a business youd like to start. Or questions about protecting your family with a will or living trust. 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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. Melissa so welcome back to money. Out power panel is still here to talk about what i think is a terrific idea by senator john cornyn, a Government Shutdown, in an oped the texas republican said it may be necessarily to partially shut down the government in order to secure the longterm fiscal wellbeing of our country. I think that is absolute genius. Lets bring in our power panel back into see what they think. Economist, peter morici and john kane, and sam wardell. Peter, start with you, his basic point republicans were brought to the brink and threatened with a Government Shutdown in the last couple deals. Were coming to the point where that could happen again and bite the bullet and let a shutdown happen in order not to spend more money. What do you think . Well, this time around the president went over the congresss head to the people and essentially ran up his public Approval Ratings and mr. Boehner blinked. He rolled. If the gop is willinn to shut down the government and stick to its guns, until it gets its spending cuts and take unpopularity that goes with it, in the end, then i think they can win. The real problem is they have retreated so many times that they dont have any credibility with their enemy. I mean already the president is at his rhetoric again, no spending cuts without more tax increases. He wont be happy until every Small Business in america pulls the shade down one more time and applies for a government position. Melissa john, i mean, it seems like one great way to get credibility back would be to go ahead and go over one of these cliffs, to have some sort of a shutdown. And it is like having a spouse out there spending too much. I mean keeping these guys home for a while might actually get them to stop spending even for a day or two. Think of how much money we would safe. That might be only way to do it. They will not quit spending any other way. Cut them off. Take the credit card away from them. That is only way you can stop them. To peters point, you have to stand up to them at some point. If not, they just keep rolling over you and rolling over you. This president and this administration has no interest whatsoever in cutting spending none. Melissa no. You have to ice the hammer when you have the hammer and you have to use it. Melissa sam, drives me absolutely crazy when i hear democrats especially making the argument right now that not raising the debt ceiling is akin to saying we have wracked up these bills. Now were not going to pay for it. I think why would you extend someones credit limit without them putting together a plan to stop spending in the future . I wouldnt give you more credit if youre not going to get your books in order. 100 agreed. If you look at the last time the president sent a budget to congress the senate shot it down by think 990 vote. The president and senate have not fulfilled their responsibility and, you know, at this point i think that somebody has to act like an adult in this discussion. Now, its a harsh, harsh, measure, and its going to cause a huge amount of pain, but, this may be the only way that the republicans can in fact stop the momentum going on out there. Melissa peter, how do you explain to people, i mean youre an economics professor, why Government Spending is a weight on the economy . Because keynesians make the argument that it stimulates. That is what would get the government going again. They have to go out there and spend and create demand because no one else is doing it. In the short term it does help to have a deficit if you use the period of grace permitted by a deficit to do the structural things to make the economy grow better. Melissa like what . Like what . What should they be doing, peter . Getting Bank Regulation right. Using restructuring remedy as opposed to all the bureaucrats running around, 107 inside of jpmorgan and couldnt catch the london whale because nobody was in that office, that kind of thing. Developing more domestic oil and gas. Things that are impeding growth because the government is in the way. Get it out of the way and then if you do that and growth is faster, then you dont need all that deficit. You can cut spending. The other thing we have acknowledge a awful lot of our growth now and behavior of people has become dependent on these big deficits. Look at the employment numbers. We never talk about it but the big number every month, big winner every month is health care. Why . That is really an extension of the government sector. Go to a hospital these days. It is nothing but a government bureaucracy with a lot of supervisors that dont do very much. Melissa what do you think is one thing the government could do right now to help growth . Stay home or do you have another idea . That was mine. Stay home would certainly be a good start. I agree with peter. You have to get the Regulatory Environment more businessfriendly. I think if our if the president and administration would listen to the Business Leaders and take their advice versus ignoring their advice and make it more businessfriendly out there i think you would see a change in attitude but the Business Owners of the world, job creators of the world dont feel that. All they see is more increased costs and more uncertainty. With that theyre taking less risk. There will be less job opportunity Going Forward until that attitude changes. Melissa okay. Guys, thanks so much for coming on. Have a great weekend. Take care. Thank you so much. Melissa time for todays fuel gauge report. Exxonmobil moving ahead with al 14 billion oil project. This is off newfoundland, canada will produce extra 150,000 barrees per day. The construction is expected to begin in 2017. Oil production took a dive to 7 Million Barrels per week, that is the lowest level since 2001. Refine, drawing down on u. S. Stockpiles primarily contributing to the decline. Opecs out put hit the lowest level in more than a year. Output cut by saudi arabia and interruption from supplies from iraq and falling iranian exports are being blamed for the decline. Oil futures capped off the biggest weekly gain in three months, rising 2 1 2 for the week. Next on money, i didnt see anything to get excited about in todays jobs report and i dont think our panel did but why is Christian Dorsey jumping for joy . He is kind of sitting but looks joyous. I will does him with cold water when he tries to disagree with me coming up. Dont you want to though if youre eating again net i canly modified food . Washington state is letting Voters Decide if labels are really necessary. Well explain that coming up. Do you ever have too much money or too many food labels . [ rosa ] im rosa and i quit smoking with chantix. When the doctor told me that i could smoke for the first week. Im like. Yeah, ok. Little did i know that one week later i wasnt smoking. [ male announcer ] along with support, chantix is proven to lp people quit smoking. It reduces the urge to smoke. Some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. If y you notice any of these stop taking chantix and call your doctor right away. Tell your doctor about any history of depression or other Mental Health problems, which could get worse while taking chantix. Dont take chantix if youve had a serus allergic or skin reaction to it. If you develop these stop taking chantix and see your doctor right away as some can be lifethreatening. If you have a history of heart or blood vessel problems, tell your doctor if you have new or worse symptoms. Get medical help right away if you have symptoms of a heart attack. Use caution when driving or operating machinery. Common side effects clude nausea, trouble sleeping and unusual dreams. It helps to have people around you. They say, youre much bigger than this. And you are. [ male announcer ] ask your doctor if chantix is right for you. Melissa so lets face it. Were just limping along on the road to recovery. 155,000 jobs. Is it going to do it . Will it help get the Unemployment Rate down at all . I think the jobs picture is pretty bleak but here to disagree with me, Christian Dorsey from the Economic Policy institute. Welcome back to the show, christian. Happy new year to you, melissa. Melissa you were jumping with joy when we were going to the commercial break. Looked like you were sort of snoozing. No not at all im not happy with todays report. Melissa okay. But it does confirm what ive been telling you and others for a very long time. Melissa whats that . Unless we do something differently this is where we are in terms of the labor market. If we think simply this will be a private sectorled recovery that will produce the unemployment, produce the jobs. Melissa private sectorled recovery . How does the government out there spending and cracking whip and doing everything they can . Do something differently. We signed up to do exact same thing weve been doing the past four years. Following your advice well be stuck here forever. Were not doing anything differently. Were staying on this road . The reality is, for two years we have not had any real Government Investment in the economy. It is essentially been, you know, austerity by another name. Melissa what about 678 billion of stimulus they never actually spent . They spent 80 over course of whatever it was three or four years. Now they want even more. Talking about the recovery act has been out of the economy for two years. For two years. And for two years weve had, what you and others and i would agree, is insufficient job growth. So for two years we had the government out of it, just like people said we needed and what has happened . We had job growth flatlining. Melissa more Government Spending . Your answer right now when we have the terrible budget deficit and 16 trillion debt, you think we should spend more money . Where should the money come from . 77 of the population woke up and faw found a smaller paycheck. Where will the money come from. Why did they wake up and smaller paycheck. Because the government raised taxes to try to pay for the incredible deficit. Instead of dealing with incredible jobs crisis, we said folks, no the greatest threat is our deficit which is not accurate. Melissa but we havent dealt with the deficit. We havent dealt with the deficit. Were not going to be able to effectively deal with the deficit until we deal with the jobs crisis. Dont you think it would be much more prudent course to have people back to work, contributing to Economic Growth and then deal with our deficit . Melissa president obama has been in office for four years. Now starting his fifth year. Why do you think he hasnt dealt with the jobs problem then . It may have something to do with congress. He has jobs plan been put forth before congress. They havent moved on it. Melissa and who exactly do you blame for that . Because we just saw with this fiscal cliff deal republicans dont have any power. They dont have any influence. They cant get things done. All the democrats are in charge there. President obama is in charge. If you will blame people for not doing what you want over the past four years it has to be the democrats and the president . Well i would think the House Republicans could beg to differ with that. They seem to think they have a lot of power. Melissa no, they dont. I dont think a single republican would come on and tell you they would feel like theyre in power right now. Seems the president who campaigned on the whole idea that taxes should not, should not be maintained at a lower rate for people over 250,000 a year, he lost that battle. And why did he lose that battle . Because House Republicans didnt want to see taxes increased on anybody at all. So clearly they do have some power and clearly the president is not totally getting his way. Melissa republicans didnt want to see taxes raised on any one at all and democrats won as of this week, 77 of the population saw their taxes go up. They saw their paychecks go down. Everybody who got a paycheck today went because it was smaller. They have less money to spend in the economy. That is because the president and insisted taxes go up on everyone. I dont know how that is helpful to the jobs picture. No, the president didnt insist on taxes going up on everyone. It is regretable, extremely regretable we didnt find a way to replace the two payroll tax cut that should have expired and should have been replaced by something else. That is something the president and the congress has full responsibility for because nobody fault for it. Melissa christian i think one thing we agree on this is a disaster. It is not, neither of us are jumping for joy. Thank you for coming on tonight. Youre always a great opponent and good sport. I love it when you come on to disagree with me. Take care, melissa. Happy new year again. Melissa next on money the push to label again net i canly modified food getting bigger but critics say it would cause higher prices and hurt sellers. Well explain that to everyone coming up. Aig not aware of phrase, let sleeping dogs lie. A bold ad campaign thanking america for its 182 billion bailout. Can this actually win them more customers . Piles of money coming up. At a dry cleaner, we replaced people with a machine. What . Customers didnt like it. So why do banks do it . Hello . Hello . if your bank doesnt let you talk to a real person 24 7, you need an ally. Hello . Ally bank. Your money needs an ally. Melissa so we recently told but the again net i canly modified Salmon Congress is considering putting on the market. Evidently a lot of food we eat, mainly fruits and vegetables are already modified. We dont know about it because theyre not labeled. There is a new initiative in Washington State that would require all again net i canly modified food to be tabled geneticly modified. But others like, me say, i have a right to know what im eating. Joining me to discuss both sides is state representative jje fitzgibbons. Thanks so much for joining us. Youre kind of on the fence about this, right . Well, melissa, thanks for having me. I would say that for me the bottom line is that people should have the right to know what theyre eating. Families should have the right to make that choice for themselves. I dont have strong feelings one way or the other whether geneticly modified foods are good or bad, and i think if they were labeled i dont think that would make any difference in my personal buying decisions but i think families and individuals should have the right to make that choice themselves and not have the choice made by craft, monsanto or some other big food conglomerate. Melissa you mentioned monsanto. They make watermelons that are smaller, theyre seedless. They have modified them in a way to make them more desirable to people. That seems, i dont know, for some reason that is less threatening when we talk about these salmon that have been geneticly modified to grow twice as fast. Theyre sterile so they cant repopulate and know exactly which ones they are. There is something about that that sounds very creeppy. Like the fish in the simpsons that pops up with the three eyes. Thats what i teal like the salmon. I feel like i have a right to know if that is the fish im eating . Melissa, the fda never tested geneticly who hadfied organisms to say if theyre safe for human health. The industry says they are. I dont know one way or the other. A lot of consumers feel the way you do and would like to have the choice to make that for them service. Maybe for a watermelon but maybe not a salmon. Those choices should be made by each family but not a corporate boardroom somewhere. Families in Washington State and even a lot of farmers here in Washington State, we have a huge agricultural section here in washington. A lot of farmers feel that way that that information should be provided to their customers and that is what this initiative is all about. Melissa the fda looked at the salmon situation and they believe it is safe although a lot of people say the fda doesnt go far enough. They want to keep hormones in chicken and other things are considered safe but dont want to feed that to their children. They feel like it has an impact. The flipside of the argument is the cost. Every time you put a label on something and every time you increase regulation it makes the price of the food more expensive. It hurts the people that are selling it because it is just a cost that they have to bear that they dont get anything back for. So, and, you know there are people around the world that are starving and could benefit from geneticly modified foods so how do you tackle those arguments . Sure. I would not, myself support a ban on genetically modified footsds. There may be time and place for those kind of foods on the market. In certain third world countries that could help with hunger problems. At the same time if a label adds a cost, we already have nutrition facts on our food. We have nutrition facts on every box of cereal you buy. There is a small cost associated with that. Would we not want to provide that information to the consumer to save a few pennies on a box of cereal . I dont think so. I think consumers right to know for me is more important than i also think that voters in Washington State are going to understand that a little bit of ink on paper on the packaging after food product is not going to change the price very much. Melissa yeah. Studies, industry has commissioned show huge increases in food bills for consumers tend to be based on the assumption that consumers will not eat any genetically modified foods. Melissa we have to go. I think that is fair assumption. Melissa thanks for coming on. I really appreciate your time. Thanks for having me and go seahawks. Melissa i wasnt only one wondering if he was old enough to hold elected office, right . You were warneddering that too . Celebrating good times at aig. The insurance giant thanks america for its huge bailout in a new ad campaign. Have you seen these ads . How could this possibly be a good move for their business . Im not sure about this. At the end of the day it is all about money. 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Melissa so it was the mother of all bailouts when insurance giant aig needed that 182 billion to keep them from collapsing. We taxpayers unwittingly stepped in. Now more than four years later they have paid us back and then some, fine. Thats great. Lets move on. Wait, have you seen this ad . Aigs odd new advertising blitz. Ace check it out. Aig, we said we would turn it around. Were helping missouri come back from a devastating tornado. Were helping east coast recover from hurricane sandy. Were a leading Global Insurance Company Based here in america. We paid back everything that american lent us. Everything. Profit of 22 billion for america. Thank you, america. Helping people recover and rebuild. Thats what we do. Melissa hmmm. I dont know. It is nice to be thanked for the big bailout especially when a lot of people actually didnt want to do it. Im not sure this is a great idea for an ad campaign. Joining me is advertising and marketing expert. Thanks for coming back. What do you think . I shed a tear. Melissa looked like you were weeping . I was weeping. I was trying to hide it. It is a wonderful idea. They deserve a victory lap. First time in the history of the world the u. S. Government has ever made money on anything. Melissa on anything, right. They borrowed 180 billion from you and me. Melissa yeah. They paid it back with interest, 20 billion of interest. Melissa do you work for aig by the way . Into, no,. Melissa just checking. No, as a matter of fact, i held the stock at 85 a share. Melissa yeah. In the old days. So, what the u. S. Government ought to do, they ought to loan aig more money. We could get rid of the deficit. Melissa right. Here is my problem with this im not sure who theyre targeting. Because theyre an Insurance Company. Right. Melissa so the whole idea of an Insurance Company you pay them, pay them, pay them. You have a disaster, then there they are strong and tough with money to give you. Theyre reminding us that they almost went under all of my insurance would have been paid for nothing this seems like it is really stupid in terms of what their core business is which is insurance. There is a fair point but the purpose of this ad are two things. Number one to start to rebuild their reputation. Number two, to erase the past of these incompetents who ran this company. Melissa how do you erase by reminding . You, youre telling people, maybe i happened to forget. Were like, dont forget. We borrowed 182 billion. What theyre trying to do is show people were not Lehman Brothers who is gone. Were not wamu, who is gone. Were not countrywide, who is gone. We are a new company that, we have nothing to do with Hank Greenberg who founded the company and got kicked out of the he was replaced by Martin Sullivan a white haired man who was a complete boob. Melissa right. Paid himself 4 million. Hide joe casano, derive tiffs joey, cost aig 11 billion. Almost cost the society, bankruptcy. I know as i said because i bought the stinkin stock at 85. Melissa sorry about that. They deserve to rebuild this way. The ad will run for two weeks and start to advertise their product. In all seriousness who do you think theyre aiming at . Is it shareholders . Is it the general public . Is it the taxpayer . Who are they aiming at . All of the above, all of the above including primarily the people who buy the stock to say to them, we are not the old company. Were a new company and this is part of a larger Public Relations campaign. The ceo, bob benmosche, has done a great job. Melissa fantastic. Very visible. Comes on shows like this. They are evolving from, from the, image of a pariah to a respected corporate citizen. More power to them. Melissa before we run out of time, money meet are on cale of one to money how money is the ad . I give them a solid four. Really . I wish i had friends who paid back debt. Melissa lot of fun. Frazier, thanks for coming on. Appreciate your time. Thank you. Melissa a 15yearold girl sues icelands government for the right to use our own name. The absurd details why they wont let her what she is being called in the meantime you, you will never believe it. That is coming up next. You can never have too much money. Melissa the good music. Melissa all right. Its time for a little fun with spare change. We have attorney extraordinary joy jackson and radio talkshow goddess monica crowley. All right. In full party note. First up, a 15yearold girl in iceland is suing the country because she wants to use her own name. Her name is bleach. It is not on the official list of names that are approved by the icelandic government. Who knew . Not her mom who says she had no idea the name was not okay. Officials say the list is supposed to protect children from embarrassment. Now its starting to make a lot more sense. Since she was born she has been identified as carol on oliver documents because obviously thats not embarrassing. Heres where we start. Thats one of the greatest things about america. Land of the freedom of the brave. We can be who we want to beat. Im bonding with her because my full name is joey cannot even joseph. And i dont have a middle name. I was thinking about changing it. I think this country should allow our to do whatever she wants to. A beautiful girl. A beautiful name. Big government here in america, but this is really big government. And its not just iceland, denmark and germany as well. They have this preexisting list of accepted names. That is completely melissa germany . Germany as well. A little individual freedom in scandinavia and germany. Oh, monica. Melissa if you watch the nfl and the weekend you might be wondering some of these names. I dont know. Its america. Name whenever you want. That is the freedom. And that was approved. It was approved. No lawsuit behind that one. Melissa all right. Well, ever been in error really hairy breakup situation . And new zealand all decided to make the best of her break up and cash in on her boyfriend secrets. She put his secret fishing spot up for sale on the internet. She actually got 90,000 hits and made a 3,000 box. You go. I love this. Hell hath no fury like a woman scorned. I want to know the purpose of the breakup because it had to be pretty bad break up. He, of course, every man is a fault. No, im kidding. Women are always right. Always right. I want to know what he did to deserve this. He must have done something. Melissa seabrook up with her. Thats enough. When he was supposed to be going and whether he was going fishing. Thats what happened. You see that. The payback is among give away all of your little secrets. An enterprising woman indeed. Melissa golf clubs. This is giving me all kinds of ideas. He does watch this show. He wouldnt think i would actually do it. Little to you know. Melissa all right. You are did hear about a month ago, but the fiscal cliff deal is renewing interest in using a magic point that will solve the debt crisis. Look, there it is. Jonathan honig as it. New York Democratic congressman is suggesting it is possible to mend a platinum trillion dollar coin obviously. His ticket and the treasury, called the day. Crisis solved. Any thoughts . Once we meant the trillion dollar coin, i think then the next move should be minting the gazillion dollar coin. I think thats completely realistic. Look, you start going down this road of a trillion dollar coin in you put it in fort knox of someplace. To keep going. If you really want to talk about inflation
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