California still has the thirdhighest Unemployment Rate in the country at nearly 10 . The state is 28 billion in debt and has one third of the nations welfare recipients. Unions are not helping. That is it for tonight willis report. Thank you for joining us and do not forget to record the show if you cant catch can catch us live. Have a great night. Lou good evening, everybody. What will obviously be a perpetual campaign by president obama in his second term goes on tonight it started with a perpetual attack on our Second Amendment rights. Senator Dianne Feinstein kicking off this morning, rolling out new legislation and they would ban nearly 160 assault rifles and semi automatic weapons and magazines holding more than 10 rounds. Nearly a dozen of those weapons on display at the news conference, including the socalled assault weapon used by the newtown, connecticut, shooter, atlanta. The senators placed the blame not on that young man with serious Mental Illness was left untreated, but
Congress raise the debt limit without condition. I want the old obama back. Then to one scares the heck out of me. By a fear he will bankrupt the country. We will be back next week. [applause] nearly a dozen of those weapons on display at the news conference, including the socalled assault weapon used by the newtown, connecticut, shooter, atlanta. The senators placed the blame not on that young man with serious Mental Illness was left untreated, but rather on gun laws. Weaken gun laws allow these mass killings to be carried out again and again. Weapons designed originally for the military to kill large numbers of people are replicated for civil unions. Lou after four days of nonrelativity from the president dispatched his Vice President for a not so successful joe biden fireside chat made famous by fdr. Not so successful because Vice President biden undercut it with his own call for shotguns and more modest magazines. A shotgun will keep you a lot safer. A Double Barrel shotgun than an
Melissa dont look now but the fed is getting into the stock analysis business. Chair janet yellen calling out some specific sectors for valuations that seem a little stretched. In a filing provided to congress she said, quote, valuation metrics in some sectors do appear substantially stretched, particularly those for smaller firms in the social media and Biotechnology Industries despite a notable downturn in equity prices for such firms earlier in the year. Social media stocks taking the brunt of yellens comments. A lot of big names in the red as a result of that. Look at facebook, linkedin, groupon. Here to discuss, charlie gasparino, our very own, president of schaefer Asset Management dan schaefer is with us, and barrons Senior Editor jack hough. What do you think of the janet yellen getting into the stock analysis business . Pretty astute. Maybe if i could get a return on cash in my bank account or anywhere, i would, you know, not be willing to take as much risk melissa her fault.
The world of hospitality with two of the biggest names in the industry, the ceo and president of hilton and arne sorenson, the ceo of and president of marriott international. These two competitors are sitting down together with liz. You dont want to miss it. All tomorrow right here on after the bell. Lauren money with Melissa Francis is next im Melissa Francis and heres what is money tonight. Phil mickelson trying to take a mulligan for his comments on taxes. He will make drastic changes because of californias huge tax hike. What exactly does it mean . Is he moving . Is he retiring . Sportscaster jim gray is sharing hints from mickelson as he joins us. 2012 showed the biggest spike in home prices since the summer of 2006 but there is still time if you want in. Weve got the surprising inside scoop what is hot and whats not from coast to coast. Iraq stumbles upon a billion barrels of oil they didnt even know they had. We have details whether that could be a global gamechanger. Even when
Show some guts. Tomorrow, rand paul with ideas for both parties. A francis is next im Melissa Francis and heres what is money tonight. Phil mickelson trying to take a mulligan for his comments on taxes. He will make drastic changes because of californias huge tax hike. What exactly does it mean . Is he moving . Is he retiring . Sportscaster jim gray is sharing hints from mickelson as he joins us. 2012 showed the biggest spike in home prices since the summer of 2006 but there is still time if you want in. Weve got the surprising inside scoop what is hot and whats not from coast to coast. Iraq stumbles upon a billion barrels of oil they didnt even know they had. We have details whether that could be a global gamechanger. Even when they say its not it is always about money melissa first lets take a look at the days market moment. A wild ride on wall street today. Stocks reversed courses in midday trading with all three major indices ending the session in the green the dow ended up 62 poin