The Young Turks: Cenk, Ben Mankiewicz and Brett Erlich discuss troubling reports that the Department of Justice tapped Fox News reporter James Rosen’s phone line – and his parents’. Cenk says the journalist wiretapping is the only actual scandal going on right now (as opposed to the IRS audits and Benghazi). But because Fox News flips out over everything, it’s hard to separate the wheat from the chaff on the rare occasion that they’re right about something.

“Part of the problem is that Fox News cries wolf so much that once they have a legitimate argument… you’ve lost a little credibility,” Cenk says.

I'm not sure when, or if, Fox News ever had a legitimate argument -- or credibility -- but they do cry wolf rather often.

"A crucial change in the way financial derivatives are packaged and sold on Wall Street is enabling traders to bypass new regulations aimed at limiting reckless speculation, enhancing the prospect of another derivatives crisis, warn some market participants."

The Dodd-Frank financial reform law came into effect in 2010 in response to the financial crisis- it required safeguards for investors to cover losses on their derivatives trades. But what if investors found another, risky, way around that? That's what's happening now. Is it time to start the financial Armageddon clock? Cenk Uygur breaks it down.

From The Young Turks on August 3rd:

"A Vermont farmer who was arrested last month expressed his displeasure Thursday by driving a heavy tractor over seven police vehicles, authorities said. State police estimated the damage to the Orleans County Sheriff's Department vehicles at about $250,000. No one was hurt..."

Ana Kasparian, Cenk Uygur, and Ben Mankiewicz break it down.

Here's the link to the news article.