Gerri lets get to the top story. Hedge funds coming for your many. With the advertising blitz fullpage ads cold calling. And these guys have reason to do this now. Judging by recent performance they have done a terrib job to manage the billions of dollars they alrey have. Here now personal finance expert, a welcome. With all of the solicitations. The s reverses theeeve yearold re to bef the solicitation. Also private equity funds and consumers are calling foul. Are they at risk . Has potential problems the market place will lk fferent in a coule months when the anges take effect. Companies with little no Operational History soliciting funds they will be on your tv will see the huge billboard on th tv. Maybe even on an facebook. Gerri theyre already on twitter. There is another one that says no information like the inside information. Here is the ttom line. With the inx funds charging 2 and another 20 off the top. See even if you have access to the best hedge fund what does that mean . Th have to appeal to the masses even only certain income levels over the past couple years, a big dea they will ill go after these guys fast furious and give the mutualfund industry are rise also the try to get the wealthy people to invest their up against different restriction so it is interesting to see how that plays out. Gerri people are smaer than this. Our viewers are too smart to get caught up in this. Did you make over a certain amount may you are more sophisticated but investment schemes go across all socioeconomic. Gerri b so but our viewers your ears are very savvy. Gerri but there is a flip side. Private equity, that is the stock market. Also the highfrequency firms string of the market. It is not a safe place to invest wth indivual stocks maybe how do you do that . You do not do the ipo because you cannot get a good price. Bb this . Sun will be legitimate some will be fraudulentome will hit the unsuspecting investors to have their way. Gei th is the bad news and some people will get caught up in that but that is the onus on the input individual investor because they will not get any help as usual. The ual things you should be doing anay. And the remainder to be taking extra precaution. 60 days away . I know you will be watching. You come back to tell us what you willee. I will. I will do that. Gerri federal rerve officials are not on the same page at because investors are obsessed with they will slow the stimulus and ben bernanke try to clear the confusion and ter barnes is in cambridge massachusetts to jointly with the latest. Investors were waiting to get any word from ben bernanke about tapering t antative easing bond purchases of 85 billion per month to keep longterm Interest Rates down and of fed chairman sellas like he was interested in that later they and souders. An appoinent at 7. 6 if anythin overstates the help of the labor market given participation rates and ny other indicators of the underemployed and meum long term unemployment. Were not thereith maximum employment mandate. With price stability stabily, inflation is 1 that is below the 2 objective. So both sides said the mandate employment and inflatn say that we need to be more accommodating. But the fed chairman spoke a couple of hours after the minutes were released of the meeting back in june and it is not clear from those minutes that the chairman has the full support of the other fed members. Here is one key line for the minutes several members had judged that th reduction of acid purses purchases would soon be cumulative decline of an ployee batson september in 2012 in the ongoing increases of private payroll which had increased their confidence in the outlook for sustained improvement in labor rket conditions. But then it also shows half of theomc participate in its belt quantitative easing should into lat this year. Back to you. Gerri ow the latest edition yesterday we put the irs of the walsh team for leaking thousands of Social Security numbers of wind. But today is good news from illinois of all places. Th newest member is democrat governor using his line item veto power to suspend a state lawmakers pay because of the inaction on the 100 billion pension cris. He sayshere will be no paychecks for legislators until they get the job done. Imagine that. Know if wean only do that washington bbv would see a budget. More to come including half of the james galdolni estate gs to the irs we wi tell you the same step to take to not fall into that trap. This time fighting crespo negative cholesterol if we will get one doctors opinion after the break. Hey, buddy . Oh, hey, flo. You want to see something cool. My Insurance Company told me not to talk to people like you. You always do what they tell you . No. Try it, d see whatour good driving can save you. You dont even have to switch. Unless youre scared. Im not scared, its. You know we can still see you. No, you cant. Pretty sure we can. Try snapshot today no pressure. Gerri amedical game changer a gene marker for cholesterol that could prevent heart attacks in hand igniting a race to be the first to offer the drug. We have a cardiologists. Dr. Campbell, this is fascinating. This means i can eat anything i want but pharmaceutical companies are racing to develop this drug which sells like it will be really expensive. How does it work . It is a game changer. Cholesterol is one of the most important risk factors for Heart Disease for every 1 percent to lower cholesterol numbe you will reword death by 1 this is an injectable once or twice per month and it pushes the numbers down to the lower ranges in the havever seen before. Gei letsive some background. A couple of people out there with the mutated gene they have cholesterol levels 14 or 15. Unheard of lels if we could then make that that would help so many people. The possibilities are amazing. Absolutely. If we could modify the risk factor such as high cholesterol we could impact disease with the rising Cost Health Care if we could prevent heart attacks in the cost associated with it it could be a game changer. However the otheher side is that they make you very theyre veryxpensive because theyre incene negative expensive to make. Gerri is unlikely they will not pick up the tab . Lb difficult toet insurance expensive to m make. Companies to cover this i spent a good amount of time arguing for them to pay for my patients. If it is a game changer in the long run theyay. Gerri theyre already testing the drug to fight amazing results for golfer way could we s this introduced . The fda approval process is long. at least 12318 months to complete the Clinical Trials then present the data and lethem decide if this is good to helphe patients. Gerri what companie are likely to be first out of the gate . Those that are far it a star amgen, a fee and pfizer. One of these already has plans plants offshore to start making the drug taking there will have a big return gerri thank you for bringing this. You will answer the question next how you do that . Had you keep your estate safe from the irs . How the government is spending your tax dollars dollars, using the many to spy on yound the phoneaing many we will explain. [ villain ] well mr. Baldwin. It appears ourourney has come to a delightful end. Then i better use the capital one purchase eraser to redeem my venture miles for this trip. Purchase eraser . Its theasy way to erase any recent travel expense. I just pick a charge, like my flight with a few taps, its taken care of. Impressive baldwin. Does it work for hotels . Absolutely thank goodness. Mrs. Villain and i are anning our. You scare me. And i like it. Lets go whats in your wallet . Gerri James Gandolfini leaving a large amount of money to friends and family but the lions share will go to the irs. 30 million is heading straaght to of calcium with a death tax. But does not include t state taxes. How a kid you avoid this . To a degree now realestate e. Turner attorney. 30 million goes to uncle sam what did he do wrong . It is easy for uso look at the media in the payroll in the sky to say he did subbing wanted in a Perfect World that you stayed buried forever in you give your wife everything. Gerri the wife should always get everything. Ut she doesnt pay taxes gerri the wife can take it all with no tax is . Exactly. Number two if you get everything to charity, and the taxes. Period. Number three, he could give out gets yearly, 14,200. Gerri but what about a ust . There was the real vocable trust for operty when you put that into a trust not only doesnt skip the taxes but it freezes the day it goes into the trust. In his primee bought a home. Now 2013 it is worth 60 percent more. It doesnt matter if it freezes 1980s all depreciation is noaxable and up at 10 million is also not taxable. If you put into a trust he is not payg xes. Gerri he was only 51 i am sure he was not thinking about this but the tax bill is due in nine months. Not exactlyut tey get an Automatic Extension so it is 15 mont but then they have to put down a reasonable estimate. That could be a problem because you normally paid tas at of your assets but now they paidefore they get e money. But th good news is the irs will work with you they wl set up a payment plan and charge interest so that lps you out. Gerri you can do that every ye. Talk about thh death ax is generally and what levels you have to pay and how does that work . In 2010 when steinbrenner didy paid no tax on the estate. But right now you pay 40 percent minus the 5 million exemption 40 million to the irs in based new york york, manhattan, he has to pay 60 percent state tax plus 40 death tax negative 5 million exemption federal and 1 million exemption state. Gerri you mentioned the wife there is a complicated situation his wife is not the mother of his son. What does that mean . When he marrder in 2008 he did not give her everything he wrote this in 2012. He gave the wife 20 . Every wife in new york has a right to get onethird no matter what. She can elect not to take a 20 and take a 30 he would have been better off if he gave her the 30 percent and then helped her with the taxes. He definitely used an attorney i dont know how good the attorney was but. Gerri also at 51 he probably wasnt thinking Something Like this would happen in so early. And nobody is thinking about mortality at age 51 and you cannot plan especially with the volatile relationship with your family cannot plan in thee are vocable trust you cannot get it back. It is there for ever. That is what it means these words actually mean something. We try to break thatut that is a different sto. [laughter] but if he giv it to someone he may not get along with an five years that is a mistake but from heaven h may think he made a bad idea gerri they are more difficult when you make them yourself. He did you probably helped a bunch of people makeood decisions todayy at do think . Is it time for the death tax to die . I will share the results at the end of the show. We although nothing is certain but death and taxes even earning money long after you were gone. Which a member of the afterlife earned the most in 2012 . That is the top five. Number five job and in. 32 yrs later he earned 50 million thanks to the new d remastered music. Never fort Charles Schulz the peanuts creator still earned 26 million. The hollan lot a holida Television Specials on our favorite. Number three maryland darrell five decades after she died still raking in 30 billion in 2012. Number two Elvis Presley marking the 70th anniversary which help the king of rockandroll earned 60 million and number one richest dead celebrity he Michael Jackson three years later biing tour ended million dollarin 2012 fro a radio airplay, a merchandising feature films and album sales also elizabeth taylor, albert einsin and dr. Seuss. Nothing is free any more by doubt how much taxpayers ar payingor the government to spy on us. How the government from a major recovery . Thpursuit 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 instments on course, whatever lies ahead . That someone is a Morgan Stanley financial advisor. And were ready to work for you. Thats a good thing, but it doesnt cover everything. Only about 80 of your part b medical expenses. The rest is up to you. So consider an aarp Medicare Supplement insurance plan, insured by unitedhealthcare Insurance Company. Like all standardized Medicare Supplement plans, they pick up some of what medicare doesnt pay. And save you up to thousands of dollars in outofpocket costs. Call today to request a free decision guide to help you better understand what medicare is all about. And which aarp Medicare Supplement plan works best for you. With these types of plans, youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and youll never need a referral to see a specialist. Theres a rangof plans to choose from, too. And they all travel with you. Anywhere in the country. Join the millions 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 generatis. And provided by unitedhealthcare Insurance Company, which has over 30 years of experience behind it. Call today. Remember, Medicare Supplement insurance helps cover some of what medicare doesnt pay expenses that could realladd up. These kinds of pns could save you up to thousands in outofpocket costs. Youll be able choos any doctor who accepts medicare patients. And you never need referrals. So dont wait. With all the gooyears ahead, look for the experience and commitment to go the distance with you. Call now to request your free decision guide. This easytounderstd guide will answer some of your questions, and help you find the aarp Medicare Supplement plan thats right for you. [ whirring ] [ dog barks ] i want to treat dogs. Our Business Needs more cases. [ male announcer ] where do you want to take your business . I need help sellingrt. [ male announcer ] from broadband to web hosting to mobile apps, Small Business solutions from at t ave the security you need to get you there. Call us. We can show you how at t solutions can help you do what yodo. Even better. From our fox business studios in new york, here again is gerri willis. Gerri taxpayers picking up the tab for the government of wiretap us. According to the asssciated press of federal government is giving millions to Telecom Companies in order to listen in on tpayers private conversations. Here to weigh and, senior Political Columnist for the washington examiner. Welcome back to the show. Who is getting tapped and is it right that we are usingaxpayer money to do it . This is about wiretaps, not just about the government collecting this sort of message data of who you are calling in all of that, but they can do it without warrants or anything like that. This is about people they are suspecting of being criminals and terrorists or Something Like that who they have probable cause on, but if at t is going tell wiretap your telephone and listen in on your phone calls that costs them money. There is no good answer. Of course it would be wrong test at t with the bill, so the only other alternative is to stick you with the bill. Gerri it is always me, jim. It is always me. Lets those shows some numbers of how much this costs. It in federal cases its just under 3 million. Its a pretty significant chunk of change. Kino, we talked a lot about what you describe as met today. This is google, yahoo, collecting all this information which free. They do not charge the federal government to turn that over. Is there any instance in which cricket, at t, verizon are not charging theovernment for this information . Well, to the degree that it cost the company money, the explanation is that they are covering tir costs in providing it, but also we know that the Different Companies are charging different amounts. And so it is not like their is a market out there where prices are being set by market forces. The company says, will try to do this. Is someone making a profit . Here is why i am upset. I love profit. I dont mind profit, but if a Telephone Company is profiting f of wiretaps of its own customers, then you are creating a lobbying force for me wiretapping because that is the way it works in washington. Gerri from making my head hurt. Once someone gets ridge of the government and the government grows more the wake. Gerri here is what makes me mad. Shouldnt this be disclosed . Absolutely. Gerri you dont disclose it dilose it when you are going after dru dealers, but afterwards our like to know how much money you are spending of my money. A lot of the spending when it comes to intelligence operations is never disclosed bause we dont want them going out and saying, well, this is how much we are paying fo the secret listening device and that the caves of northern pakistan. That protection that they get for being intelligence agencies were conducting secret operations is eended to the point where all of a sudden because we do not haveood transparency, theres not really a democratic accountability. We did have congress go ahead and get this information, but they did not even know it was there for years. We dont have the abili of decracy to work with these intelligence agencies keeping this inforormation secr. Gerri pparently we know nothing. That is all the information i have bn able to surmise as we find out everything that is being kept from us and others by the federal government. It is astonishing. Thank you for coming on. Appreciate it. Thank you. Gerri it is time for the stories that you are clicking on on foxbusiness. Com. And up and down day on wall street. The stock market turns higher after minutes from the fed policy meeting shows they were not ready to slow down stimulus. Investors change their mind. The price of oil rising nearly overnment reported another steep decline in our nations supply. Oil