captioning sponsored by comedy central ( theme song playing ) ( cheers and applause ) >> stephen: welcome to the report. thank you so much for joining us. thank you ladies and gentlemen. thank you so much. please. stephen, stephen, stephen!

stephen, stephen, stephen! stephen, stephen, stephen! (cheers and applause) >> stephen: thank you so much. ladies and gentlemen, you know, folks, i was tempted to fight against your love of me but i know i would lose. now folks i know you have a lot of choices in late night and we hear at the report value your business. thank you for joining us. (cheers and applause) folks, mi sad to say that tonight my man herman cain is still deep in campaign reconsideration mode. (laughter) i don't get why he would consider dropping out now. he hasn't had a scandal in almost 36 hours. he's on a roll. as you know first a string of women accused him of sexual harassed. and this week atlanta businesswoman ginger white claims she and cain had a 13 year affair. but i believe herman cain when he says ginger white was just a friend and he was

offering her financial assistance. which explains why she has phone records showing 61 calls or texts between them including one at 4:26 in the morning. he was probably advising her on her stock portfolio at 4:00 in the morning and he just wanted to give her a hot tip. (laughter) the hot tip-- its hot tip, of course, is the most sensitive part of the portfolio. well, thankfully, folks, i do not need to defend cain any more because there is definitive proof of his innocence. and if some arizona state senator and talbots cashier lori klein. klein who has known kane for 12 years and is currently his arizona state chairman dismissed the idea that cain would sexually harass anyone

by pointing out that cain has, quote, never been anything but a gentleman and i am not an unattractive woman. exactly. come on. there is no way, no way herman cain could be a serial masher if he is spending time around lori and not trying to dry hump her in an elevator. that woman is the definition of not unattractive. so this proves once and for all cain is not a sir crotchford stroke-and-group. in fact p if kane is not trying to bag and tag state senator klein, i think the real scandal is that herman cain is probably-- probably gay. (laughter) i mine that would finally explain why cain twice canceled his appearances on my show. because let's face it, there is no way he could handle himself around all this goodness. (cheers and applause) >> stephen: right?

i don't want to brag, folks, i don't want to brag but minot unhandsome. i can barely concentrate when i shave in the morning. i mean gun to my head? you bet. folks, as a content provider, i am wholeheartedly against the infringement of copyright. so much so that i had that phrase trademarked and then hi it emblazoned on a mickey mouse-- you see, counterfeiting and digital piracy are huge problems for those of us in the media business. the fbi reports that u.s. businesses lose $200 to $250 billion to counterfeit on an annual basis. and that is a shocking number. especially when you consider that the fbi admits it has no record of source data or methodology for generating

the estimate and that it account no be corroborated. now folks, that is what happens when the fbi buys bootleg reports off a card table in chinatown. but folks, this piracy is everywhere. studies show that almost half of adults have bought, copied or downloaded bootlegged music or video including 70% of those aged 18 to 29. sadly piracy is just one of those crimes everybody commits like jaywalking or setting your ex-girlfriend's couch on fire. thankfully, thankfully congress is finally taking action with the stop on-line piracy act. the bill which is supported by all the big media companies grants rights holders. the unfettered power to effectively kill web sites so if you post unlicensed copy written material which is a theft, onsites like youtube, facebook or twitter, those entire sites could be

shut down. unless that material is removed within five days. and the one who posted the copy written material could face five years in prison for a first offense. at last, we will bring swift and sure justice to hardened criminals on youtube. (laughter) that's enough, jimmy. are you not going to be a single lady? jail. with your cell mate denise whose's locked up for blublingoning a mailman to desk with a bag of potting soil. joining me now is one of the many victims of internet piracy. a munich manager whose clients have included nirvana and the beastie boys, please welcome former head of mercury records and president of-- entertainment, danny goldberg, thanks so much for being here. okay.

all right. (applause) this is a huge problem, isn't it. >> i think the internet is great. i love it. but over the last 15 years, there are multibillion-dollar companies have been created and at the same time there are thousands of jobs lost and movies and records and books. and the pendulum needs to swing back to its middle. >> stephen: shouldn't the free market handle this. when my show started i was about 25% of all the videos on youtube, all right. [bleep] you not, now my parent company viacom brought a billion dollar hammer down on google that owned youtube. isn't that how it should be worked out, by companies policing themselves? >> well, lawsuits are part of the law. and laws, a new law allows people to sue for things like that. but policeman arrest people for stealing. and you need cops to enforce-- to enforce the law. >> stephen: can we get internet policeman, maybe those guys from tron on motorcycles.

all right, hold on a second. now joining us now to defend thieves and pirates, please welcome professor of internet law at harvard, jonathan zittrain. thank you so much for joining me. (cheers and applause) why, why do you want artists to starve? >> i want artists to thrive. the internet allows artists to find their audiences. when justice -- justin beiber started just sing his favorite songing on youtube he got discovered thanks to the internet. and the odd thing is, under this law, the behavior of just fin beiber, singing his favorite songs without authorization over the internet could make him a fell on in jail for three years, so. >> stephen: so you are saying you do not want-- excuse me, excuse me. excuse me. clap after i nail him. are you saying you do not want to see justin booeb never jail? >> not-- i'm not saying-- .

>> stephen: well, what about that points. what about the point that if people get prosecuted f there are criminal penalties for posting copy written material, people will go to jail, that will stifle art. >> oh that's just an exaggeration. that is not what this law is about, as i understand it they just want to make sure that these companies overseas that have been stealing billions of dollars worth of things and selling advertising based on it can't do it. nobody wants to put justin booeb never jail. >> stephen: knock, some people want to put justin booeb never jail. >> not me, i love justin beiber. >> stephen: now what about that danny over here says this is just for foreign companies that are stealing from our artists. >> this is a 78 page law, some of them are about putting justin bieber in jail, but there are other parts of the law that say if there are sites overseas that the attorney general doesn't like, the attorney general without any other

adversarial proceeding can get an order asking american internet companies to cut off that site. and in essence this law takes a page out of the playbooks of china and iran for internet regulation. and that is not what we want. >> stephen: i don't know about iran but china is kick our ass in business right now. wouldn't this be good for american business because if we shut down parts of the internet won't people at work actually dot work they were hired for. >> the problem is that they are still going play solitaire. so they are always going to find a way. >> stephen: we'll come up with a law to shut down solitaire. okay. do you think that this law goes far enough. >> you need something to prevent stealing. the pendulum is going too far. you know, apple has a legitimate way of selling music. they negotiate with the companies and they sell it and ipods are doing great and itunes is doing great and everyone gets paid for. >> stephen: what if there was some even trade-off between theft and retribution like the artist

actually got to get something out of the internet company that was stealing from them, likes an eye for an ipod. >> well, it's a good line but-- . >> stephen: it's an excellent line. and if anyone steals it-- is a copy written line and if you steal it i will sue. danny gold fwering, thank you so much for joining me. jonathan zittrain, a

>> stephen: thank you very much. welcome back, everybody. nation, fox news anchor brett baier is a good friend. we wrestle together on weekend its. but i just cannot forgive him for his treatment of mitt romney when he

interviewed mitt this week. jim. >> you have been on both sides of some issues. and there's videotape of you going back years, speaking about different issues, climate change, abortion, immigration, gay rights. >> well, brett, your list is just not accurate. >> do you think a mandate, mandating people to buy insurance is the right tool. >> now brett, i don't know how many other times i have said this too, this is an unusual interview. >> did you say on camera and other places that at times you thought it would be a model for the nation. >> are you wrong, brett. >> no, no, there is tape. >> no, the tape out there, continue to read the tape-- . >> stephen: come on, brett! did you not read the tape? i bet you just watched the tape because that's how tape works. you got read it, man-- (laughter) >> stephen: the rule is-- (cheers and applause) >> stephen: i was going to read the hell out of that

thing. the rule is you stop grilling romney after he gives you the laugh. (laughter) >> stephen: that's his safe word. he uses it all the time. available on dvd. bodily parts. well, because you asked mitt romney questions he did not want to answer, you made him look bad. >> mitt romney is feeling the heat. he got a tad testy in an interview with fox. >> mitt romney is feeling the pressure, awkward and testy during an interview on fox news. >> brett baier last night sat down with mitt it got testy at times. >> mitt romney sitting down with brett baier it got testy. >> it got a little testy. >> this was a testy interview. >> yes, testy, as in with those questions, you brett

baier kicked him in the teste. (laughter) >> stephen: personally i really, really miss the brett baier who interviewed president bush. >> so you bring world leaders on this walk. >> i do, i do. >> so the next president, what would you say is the most important thing. >> i think protecting america, and making sure we are a vibrant economy. >> wow. >> stephen: wow, wow that say followup question. where was that brett baier, there were parts of that interview where your bodies actually made a heart. but now-- but now all ever a sudden you are admiral tough questions. if anyone hear is a flip-flopper, it is you brett baier. so you cool it with the third degree and you be nice to mitt romney. remember, you work for fox news. he is a republican

candidate. a year from now, he might be your coworker. we'll

>> stephen: welcome back, everybody, thank you so much. my guest tonight is a

british entrepreneur and billionaire, yeah, but that's in metric. please welcome sir richard branson. (cheers and applause) sir richard, good to see you again. how are you. >> i'm very well. >> stephen: now, i-- i-- are you expecting a fire? sir richard, why would you have a fire extinguisher. >> i thought if the interview is a good intervow and the audience think it was a good interview, thumbs up and i walk off. and if it they feel it is a bad interview, thumbs down. we will decide at the end, anyway. >> stephen: wait a second so, thumbs down, dow what, you set me on fire and then put it out? >> well, receipts's come to that depending-- . >> stephen: okay. your new book is you will cad screw business as usual, all right. your previous books have been called losing my

virginity, business stripped bayer, screw it let's do it when are you just going to name a book double entendre for [bleep]. cut to the chase (cheers and applause) >> if you haven't patented that, i think i might use it for my next book. >> stephen: why would you want to screw business as usual. you are a businessman. why shake up the game that you are already winning? >> business can be a force for good, basically. >> stephen: a force for good, it's a force for profit, a force for profit, profit is in and of itself is a good thing. just making a profit say good thing. >> making a profit say good thing. employing people say good thing. making a difference in people's lives by you know, creating better airlines or creating great spaceship -- is a good thing. but i believe that if every single businessperson could also try to sort out some of

the problems of the world, we would get on top of a lot of these problems. because business leaders are entrepreneurial and they know how to see problems. what are some of the good things things should be tackles that aren't going to be solved any other way. >> lots of different things. global warming which has-- you don't believe exists-- which i suspect you don't believe exists. >> stephen: your suspicions are correct. >> are you quite the directive. >> if you, i think the business community since politicians are not sorting out the problem, i think the business community can by trying to get the 25 gigatons of carbon out of the atmosphere. >> stephen: haven't the market spoken, that gigatons of carbon is up there because of business, we buy cars, oil, coal. we burn them, its carbon goes up, money made that

happen. the free market says that global warming is not bad, it says it's good. >> yeah, but if it's going to fry our grandchildren it's not particularly good. >> stephen: maybe our grandchildren aren't that nice. let me give you an example. i mean at virgin all the profits we make from our airline businesses we have invested in clean fuels. so and i think by, within the next few years, we will be flying all other planes on fuels that are not damaging the environment. >> stephen: are you going to put clean fuels, biofuels? in airplanes? (cheers and applause) >> there are different company doesing different things. >> stephen: what about my plane, air colbert. >> your plane will run on dirty fuel but all the other planes. >> stephen: my lady likes it dirty. sir, sir, you are still sir,

right? >> maybe until the end of the show. >> stephen: okay. are you part of the 1% of the 1%. what do you think of the occupy wall street clowns down there? >> i think they have a valid point which is another reason why i think business needs to get its act together and should get its act together. and get out there and do something positive. you know, so we set up an organization called the elders which try to resolve conflicts in the world. >> the elders. >> yes. >> stephen: that sounds like the leaders of a cult. you would be a great cult leader, by the way, that hair and whatever this is, you absolutely, people would definitely, i could see you with child brides. a compound in idaho or something like that. >> virgin child brides. >> stephen: god, i hope so god i hope so, sir.

you said capital civil the only system that works but it also creates extreme wealth for just a few individuals. so when are you giving your extreme wealth away. because i will take a hundred million right now f you brought your checkbook. >> no i think that what capitalism is the only system that works. it does bring extreme wealth and therefore it brings extreme responsibility. there are numerous problems in the world as you know and i think with enough determination we can get on top of these problems and we shouldn't leave it to the politicians. >> but why dow want to save the world. you have a spaceship, you can leave any time you want. >> that's a good point. i hadn't thought about that. >> stephen: the next book should be through-- screw the world i'm out of here. thank you so much, sir richard. >> i thought he was quite nice but --

>> steve be, stephen, stephen! stephen, stephen, stephen! (cheers and applause) ♪ ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes, and lexus for audi than ever before. take advantage of exceptional values during the season of audi event.

>> stephen: well, thank you fo