Recalling 22 million cars and trucks here in the u. S. Last year. That is a nineyear high. That, according to the national highway Traffic Safety administration, so why is this going on . Lets bring in larry prince, an auto expert. What is up with this. It sounds like every car in the world is being recalled. [laughter] it certainly seems that way. Can you imagine . 632 different recalls last year. Now, you know, when you think recall you think, like, oh the chevy, vega, you know, the awe motive hall of fame stuff. The real city there a lot of reasons for this. Mostly its because a lot of cars underneath the car are being shared now. You might have a a beetle, and your neighbor might have an audi four. They might use the same engine and have the same suspension. If therest a problem youre going to find you have a recall just like they do. Gerri im not loving this. Its all i need to get my car recalled. Does it get worst in the future . Is there something about the way cars get recalled more will be called back . Well, yes. Theres a reason for this. Part is because there are fewer suppliers. But more importantly its because what the federal government did. If you remember back around the time that, well, fire stone tires were coming off ford explorers and turning soccer moms to stunt driver youre going to remember that congress acttd. They enacted something called the transportation recall enhancement accountability nd document gerri come on give me the shorthand on that. Thats ridiculous. [laughter] its called tread. The reality is what it did held automakers accountable for, say, knowing about recalls. Gerri all right. The shorthand on this the government says to the automakers if you have a problem, you must report it to us and if you dont, the lawsuits are on your head; right . Not only lawsuits but get this, if someone dice as a result of it theyre going to be held criminally liable. Gerri wow. Now these automakers are probably overreporting problems. I dont want to stop pedal them. Chrysler has the most recalls. Why is that . Is there a problem with chrysler manufacturing . Theyre certainly having a lot of issues aa a result of the merger and integrating all the different platform they have to do. But keep in mind some recalls are more serious than others. For instance, chrysler may have a recall for engines fires or Something Like that, where as there might be another recall where toyota, for instance, nay had unintended acceleration. They also had a recall for spider webs building up in drain holes and blocking drainage. That was a recall. Gerri i dont care. But tell me what did the recall that are important that could make the difference in your safety . Well, it certainly is the ones that you need to be fix that need to be addressed immediately. Those are the ones that put yourself at risk or what are they . In your engine, in your braking, if its something about if your possibly rear ended. Being rear ended is most the common crash. If you are concerned about crash safety. It is the front youre heading in one direction and the person heading toward you hit the front left or right corner. Thats really the most gerri all right. Thats on a recall. Gerri tell me. I get things can go wrong. Tell me what is the recall of the lass year you thought wow, it was important this was serious. People need to know about it. Well, the people need to know about it are always know about it. They send you a letter and do notify you. But when if its for instance theee was one, i think, from chrysler, i believe that effected towing hitches. It came around the time of people doing towing. I have to tell you if im a following a boat i dont want it to become unhitched because a rusty hitch. Gerri no you can be in trouble. Gerri weve having a little bit of fun. The reality you have to Pay Attention to the notices when you get if in the mail. It could be something serious. Larry, thank you for coming on the show tonight. Appreciate your time. Absolutely. Thank you for having me. Gerri thank you very much. And now we want to know what you think. Here is the question tonight. Vehicle recalls hitting a nineyear high. Do you feel safer . Log on to gore res willis. Com. Vote on the righthand side of the ask screen. Ill share the result at the end of tonights show. Here is an amazing story. More safety concerns surrounding obamacare. Listen to this. A new report from the Washington Times that is raising the alarm some of Obamacare Software was produced by people connected to the belle reduce government. Our federal government denying any connection with the country. Our millions of consumers private data at risk. The writer of the report joins me now. Thank you for coming on the show, bill. I know, people want to hear about this. What is going on . Here is what we know, gerri. There was an Intelligence Report within the u. S. Government produced last week that warned that there was clearly an indication that software engineersvilles are which was a former soviet republic closely lined with russia was somehow involved in developing the software for the Obamacare Health care network. That is the network that links some 300 institutions to the federal government and now up to some 3 million americans who signed up. And beginning a hunt for the Malicious Software within that. Gerri so now the government is denying this, but i want to get some details out about it first. What the real threat of this would be. Obviously threat to consumers who are trying to get on the system, but this seems like a crazy question. The obamacare website is connected to just about every government agency. So yes. Gerri would it give russians access to government secrets . The concern here is first, the government hasnt denied it. They are searching for Malicious Software. The white house confirmed that in my story. Basically theyre concerned about Identity Theft and privacy data being comprised. What they think is that some software could be placed within the obamacare network that would allow back door access or covert access. Last year there was a major diversion of the internet what they call internet hijacking which diverted large amount of data right in there. The excision of having an adversary government among the Malicious Software and the diversion of the internet thats creating the concerns according to the Intelligence Report. Gerri and im going read you the statement from the government. Candidate lynn at the National Security council sounds like a denial to me. So farfound indication any software was develop there had. As a matter of Due Diligence they continue to review the supply chain. Supply chain risk is real and one of the top concerns in the area cybersecurity. You know, you say its not a denial. Its sort of the Old Fashioned nondenial denial. We dont think its true. We cant give you a definitive answer. How is it possible that we would have used folks from the government to help us build obamacare. That makes no sense to me. Yeah. It make sense to me either. But clearly i think part of the problem is the administration really isnt aware of Cyber Threats in a major sense that if they were involved there could be a u. S. Subsidiary of the company that was involved in it. I think its clearly a major threat, and they cant be sure theres 5 million lines of code there. Most software has only about 500,000. This is something that deserves to be closely examined. Gerri no kidding. Bill, thank you for coming on tonight. Fascinating story. Thank you. I hope youll follow up with us. Thank you. Wow. As if it arent bad enough. They are out with disappointing news on obamacare. The cbo said obamacare will lead to million of folk cutting hours at work or leaving their jobs all together. The agency said this will call nearly 2. 5 million jobs lost within seven years mainly because they dont have to work to get Health Care Coverage now. And many want to keep their income low enough to get the subsidizes youre paying for. Also, the experts say fewer uninsured people will get covered this year under obamacare. The cbo is dropping the estimate by more than a million. Less than 6 Million People will have coverage in 2014 thanks to the problems with the website. Supposed to be 7; right . More still to come. Including a warning about the next time you fly. What you might face. And target said theyre deeply sorry as they get grilled on capitol hill. You want to hear this. A live report from washington. Find out what the retailer is doing now to keep you safe. Holding a hear on the slew of hack attack affecting millions of us. Rich is following the latest from washington, d. C. Rich, what is new . Reporter well, gerri congress is trying to figure out how to prevent the next successful attack. They introduced bills that require retailers to at least november customers if hackers steal their credit card information, increase fines on companies that fail to protect payment data, and set strong penalties for criminals who steal that information. Retailers say they spend millions to safe guard the system from attack despite that in targets case executive says the government had to tell them they had been hit. Had you had any knowledge that malware was there before the department of justice give you the notification . We did not, senator. Mr. Chairman, despite the significant investment in multiple layers of detection we had within the system, we did not. Reporter some retailers and Card Companies say the next few years begin introduce credit cards with security chip and pin numbers. One said those cards will prevent against cyber attacks. Customers could still be vulnerable. Chip and pin is a step in the right direction. Its not a panacea, it definitely adds three primary benefits to the e ecosystem. Its more encryption. So the credit card information would stay encrypted longer and make it more difficult for the hackers to obtain the information. Reporter security chip cards are common in urope. The u. S. Has been slow to adapt because the cost. Security cards are more expensive and require retailers to install cashier terminals costing the Card Companies and the stores. Gerri . Gerri you know, i know congress is having a bunch of hearings on this. Theres a lot of hot air in washington on this topic, but are they going to do anything . Reporter well, congress as it often does in the situation, youre right. They hold hearings, issue press releases, release bill and show the constituents theyre working on the problem. As you note there are more hearings tomorrow. It is an election year. They are likely doing less than it did last year. It can be a difficult political sell this issue. Youre calling for increased regulation for retailers and considered Company CreditCard Companies. As long as there are no more major breaches this year perhaps it is dice down. If you get another one there could be greater call to push if through. Were right on the edge on this one. It might be slow enough they wont get done. Gerri i dont know if you can count on not having anymore breaches. I dont know. Well, our next guest actually testified at todays hearing talking about solutions protecting consumers bottom lines. A policy counselor for union. I saw you testify. You were dynamite today at that hearing. Great job. I want to talk to you about some of your solutions for this problem. What you think needs to be done. But first weve got hear from John Mulligan from target, the cf orb. He apologized today. The company apologizes. Listen to this. I want to say how deeply sorry we are for the impact the incident has had on our guests, your constituents. We know this breach has shake their confidence in target and were determined to work very hard to earn it back. Gerri what do you think . Yet another apology. Do you slug your shoulder. Does it make a difference . One thing to say sorry. Its another to take action. We would like to see action today at the hearing we saw two executives from National Retailers stand up and oww up to the problem, and make an policy and commitment and thats a good first step. But we would like to see it followed through. Gerri you know, target is saying, look, were going get the smart cards out earlier. Let tell me you the standard in the industry is already next year 2015 that the plan is to get on board with smart cards. Somehow it an improvement . Sure. A lot of promises have been made on the part of stakeholders, but, you know, we would like too see this happen as quickly as possible, and so we look forward to being part of the solution as well. Gerri what were talking about smart code pin and chip. As we were showing you earlier higher level of encryption, more difficult for them to steal your information. Its not the only solution. What do you see as the steps that need to be taken here . What are you fighting for . Absolutely. Its a great first step. We would like to see a federal standard at the same time we would like to make sure that the states their hands are not tied and able to take the steps necessary to protect consumers even further. So thats a concern of ours as well. Data notification is very important to us as well. Consumers need to be made aware of the problem when it happens so they can take steps to actively gerri let me stop you there. You talk about notification and states all over the country have different laws in the book. You have to understand that these retailers are national and facing different rules in every single state about when they have to tell people. It seems to me if you take a good look at what happened with target, with knee man, a lot of these retailers you have to wonder if they made the deadlines in some of those states. Do you think the law has been broken . So i think there are a lot of unknowns that remain. Theyre active ongoing investigations, and i think its a good thing that federal investigators are looking in to this problem. Figure out what happened and what we need to go to prevent it in the future. Gerri how do you think states can protect consumers better . Well, california is a great example. They were the first to introduce data breach notification law and continue innovate in the area. And so, you know, this raises the bar for other states as well. And thats something that we think should dont happen. Gerri in this country, we are so behind the eightball on this. You go europe they have a smart cards. You cant do anything unless you have one of the cards with the little hologram on it. Why has it taken so long for there to be a serious conversation about this in this country . The answer is because its expensive. Its expensive for adoption at the point of sale for retailers. Expensive to reissue the new cards. But, you know, frankly, its going to be more Cost Effective to figure out a solution right now than to keep letting these breaches happen. Gerri thats right. At this point, the cost for the breach to consumers and the company far outweigh the cost of introduction. I still mystified by why theyre not moving up that deadline for introducing it earlier. Who do you think is a real culprit here . The banks who arent helping or the retailers who arent helping . Theres been a lot of finger pointing. Our take is that ultimately consumers are the ones suffering here. We all need to collaborate and Work Together so that they are able to not be yeah. Gerri i think everybody is tired of having their information at risk and maybe your personal identity will get stolen. Thank you for coming on the show tonight. Any time you goat new york, give us a call. Thank you very much. Unbelievable story. Coming up why the tax man may be part of the reason for the turmoil on wall street and the markets right now. Theyve been called the lazy generation and the welt fair generation. The new report said we may have to start calling me less thannial the saver generation. Youll want to hear that. See whats new at projectluna. Com open to innovation. Open to ambition. Open to boldids. Thats why n york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Were new york. If theres something that creates more jobs, and ows more businesses. Weropen to it. Start a taxfree business at startupny. Com. Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Managementouldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fedex. The most financially conservative generation since the great depression. How to get them off the have you called young people . Lazy . , entitled . You may be wrong. A new report said the most financially conservative generation since the great depression. They are hording cash and avoiding wall street and trading and investing like the plague. We have the head of the new report here with advice on getting them off the sidelines. Mike brian chief investment strategies. Thank you for coming in, mike. Im astonished by the numbers were you . They and breaks all the stereo type. Gerri 52 of the port follow you are in cash. Yeah. Who would have thought that . They were affect bid the financial crisis. Lets not forget they knead through 9 11 and the last financial crisis. They had the extraordinary event. Its not unlike the depression children. Gerri i can see that. Now you line it up and make a lot of sense. Maybe weve been too hard on them. Here is more number scared invest they believe in longterm investing. 28 . Do you think because its the selloff in 2000 that began in 2007 . Is that what were talking about here. The experience of the Great Recession . I think thats a part of it. I think they have seen their parents affected and their personal fortune affected. I think they have to understand the difference between savings and investing. Theyre willing to save but not willing to invest. Thats a difference because the ability to satisfy for your future needs hinges upon the ability to invest. Gerri what are you telling the folk . They have to establish a relationship. Its another one of those stereotype about the generation theres an app for everything. Theyre willing and ab