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Sent subpoenas to investment firms to find out who knew ahead of time that standard and poors was lowering america's credit rating. you'll recall the dow fell more than 600 points in the first day of trading after that downgrade. jerry willis is here from the "fox business" network. who are regulators investigating? >> i can't give you names. but hedge funds, specialized trading shots, those are the folks that the securities and exchange commission are looking at. they're subpoenaing them, asking for details on their trading to find out whether they took advantage of the fact that they knew so...

>> he's running for reelection. he's sago owe i'm saying he's got a lot of explaining to do about the economy if that's what he's out talking about. i don't think the folks in iowa are going to be real excited about unemployment rate where it is and the number of americans who are out of work. this president has been an ab jekt failure when it comes to the economy. >> republican candidate michele bachmann's bus will be in dpreenville and spartanburg, south carolina, today. today is the national day of action. latino groups will protest the immigration policies. he's been criticized...

isn't this august, not supposed to be a lot going on. >> don't you wish one day we'd say there's nothing going on, go home. >> change the channel. a lot has to do with the economy, up first president obama talking jobs in the heartland of america. the president is in iowa this morning. no straw polls. no campaigns -- it's a campaign stop. it's a campaign-style trip through three mid western states. he'll meet with a group of farmers and small business owners today. he's been making his pitch for job growth and sounding a familiar theme that republicans are playing politics with the e...

What does rick perry do? >> it saving them from the white house, though. if they don't have a crazy on the ticket, the white house has a harder time beating them. >> yes, that's true. that's true. i always thought romney because of his ideological flexibility would be a pretty good candidate in a general election, if he got there, because he would seek the opportunity that came. he would be a mood ring for whatever broke. >> i was talking to white house people and they were not doing what robert gibbs was doing. that's punching down. >> thank you. >> you're taking the presidency and going afte...

Theory they know this hurts the president. they know it works with the base. and energizes them and convinces them they're morally right to unseat this illegitimate imposter. >> if you deconstruct this, the base this appeals to is already voting against the president and for whoever the republicans put up. this talk from the republican party and people running for the president of the united states makes them look outside of the main stream. to an independent voter -- and to the people who are going to decide the 2012 election. >> why are they doing it, then? >> the republicans who are running...