>> i think the public is so far beyond that. >> this week on "inside washington," the super pac flat. the return of the fast exit of the jeremiah wright. >> i repudiate that effort. >> jpmorgan chase's multibil-dollar slit up. >> you cannot have the fox guaarding the hen house. >> we're back to debating the debt limit again. guess who came to sak to georgetown university's graduation the catholic bishops are not pleased. >> i tnk it is silly.

captionened by the national captiong inststitute --www.ncicap.org-- >> this super pac business may be a case of be careful what you ask for. thursday, "the n york times" ran a straight talking about an ad proposal tied to a rublican super pac that would have tied president obama to his old spiritual adviser and polital nemesis jeremiah wright. it was submitted by a republblican strategist, fred dis, but it never ran. joe ricketts, founderer of td ameritrade and the owner of the cubs who "the new york times" said was willing to $18 million to finance the campaign, wked away from it. romney said at first that he had

not seen the story and later in the day he said this. >> i want to make it clear i repudiate that effort. it is the wrong course for a pac. i hope our campaigns can be about the future and issueand a vision for america. i have been disappointed in the president's campaign to date which has been focused on character assassination. we are wiser to talk about issusues othe day and what we do to get america workinggain. >> he is talking aboutut the obamama ads painting romneney and bain capital as a job killers. it buries mitt romney's message for a full day, mark. >> it is s must've of reflective of the influence t that per pacs have. they are spending more than

political partie this was an act of greed on the part of the proposed yours -- proposers, and stability, because the idea of running against president obama on his association wi rev. right, which did not turn out to be an issue in 2008 -- to make it an issue in 2012 is analogous to a decision b the m mondale campaign to run against ronald reagan as a warmonger with the rockets readto explodeny minutute. if he had not donet in the first four years, it would no be an issue for reelection. if iteverend wright has not bebeen issued dis four years, it is not going to be an issue. >> charles? >> toomey it is an example of the utter hypocrisy of the means to -- to me it is at an example of the utter hypococrisy of the

mainstreream press. it is ok for "the wall washington post" to run 5000 words on the frfront page about a pnk romney didid as a teenager but it is out of balance to talk about obama's association as an adult for 20 years with a racist demagogue who married him, baptized his kids, and he referred toto as the spiritual mentor. no greater hypocrisy. >> nina? >> im kind of a surprise tt you, charles. this is an example of why when you don't hav people e who are accountable to you, they can hurt y. at least in the case of "the waingtgton post," you could take or leave the story, and most people left it including on the show. this really, i think, did hurt romney, not for a long time, but there will be other campaigns like this certainly from republicans, who raised a lot

more m money than democrats, and probabably from demomocrats, who will get to the super pac busiss. we will not know who paid for them. they will be reprehensiblele. it is a really rotten reflection of what is happened to our democratic system. >> colby? >> from the point of view of people who prepared that ad mission accomplishe. all l it did is put out reverend wright -- if you have not seen it - -- i find it ironic that mimitt romney said "i repudiate this" when in february he went on the hannity show and did d the same thing this ad is doing. >> wy is wright off-limitits?

>> he is not but why is he relevant anymore? talking about 91 has somehow the united stes government was involved -- it was a reprehensible speech in ma ways. but, you know, barack obama ordered the killing of osama bin ladeden. how is this relevant? >> you used thword earlier "reprehensible," in connection with runningng t ad about jejeremiah wright. it is not at all off limits. tactically it is a mistake. obama had no record in 28, so all you hahad to goo on were his associations which were tellintegg but ignored by t press. today, he has a record and not a myster but the idea that somehow it is

off-limi or reprehensible is sheer hypocrisy on the part of thpress. >> call it what you want, charles. the reality is that this was not dropped by the press in 2008. it was a central issue that dominated the campaign for close to the weekend led to president obama then-candidate obama, ging g the most watched the speech of his generation, a speech in defense of i it, and right had ma moments on -- reverend wright had many moments, on bill moyers' show, and john mccain, to his cred said this would not be approached. >> it was used as a steady drumbeat from rush limbaugh and an hannity saying that obama has not been properly vented -- tetted. -- vetted terret they w word

beating the drum to no availil. but they achie their ends. as far as attending the church, i attended a church with a paststor named wilmore carter. there were thing about him we had an issue with. he married me and my wife. we were married over -- are married over 50ears. there are things that said in church that would make your hair curl, but you don't go to the chchurch because of what the stor says. you do it because of the generations to have had with that church, the sununday school, at e weight your childrenre treated. to suguggestst that thisis guy was taken in is crazy. >> to suggest that he got into the church occasionally -- he

himself referred to o jeremiah wright as a spiritual mentor. it is not a casual assoation. it is at the association. to suggest tt that is not relevant is riculous.

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at 800-974-6006 tty/v. or visit us onli to save even more. fios. a network ahead. >> jpmorgan is one of the best managed d banks there is, jamie dimon is one of themartest banks we've got, and d they still lost $2 billion and counting. this is why we passed wall street reform. >> this is another movie we ve seen before. president obama says j jamie dimon, a top guy at jpmorgan

chase, smart guy, and knows what he is doing. paul krugm says "this is an odd demonstration of why wall street is to be regulated." you agree colby? no. i don't agree on this particular reason. every year without fail, some bank gets into trading losses. but before that is revealed, that actvity is making a lot of money for the bank. along the way, someone gets over-aggressive and they get into this kind of trouble. that you cannot regulate trad. you are going to have to have this kind of trading. it is fast-paced. there is no way you can -- somebody always gets over- aggressive and you have this trouble. you cannot regulate it. >> would the volcker rule have

stopped this? >> i don't know, because it it is two years since they passed this bill and they stillll have not enacted regs. it is not that complicated. call me old-faioned, but when i put money in the bank, it is not supposed to be to j just play with. i t moneyey ithe bank to be safe. >> whatind of interest are you getting -- >> lousy interest, but it is in shor -- insured. national capital bank of washington, heres my plug. >> oh. >> free checking for you. >> i get free checking, thank you. >> i remain amazed to this moment, after 2008 what this country went tough, that nobodydy has stood for justice

publiclyn this country. this administration, three years in office, has not brought any of the malefactors of that wealth and the loss of wealth. this is a little thingg that jamie dimon told off. -- pulled off. what the volcker rule would do is stop the bank -- the bank has deals with the depositor and can supposly only tried to increase the ierest in profit of that deposit as nina spoke to, not to just play games with. >> is that what t is going on, risky business? >> i suggest that on the corner ofall and broad street is set

-- the guillotine is seset up that it be named after shields the shields guillotine. jpmorgan at will this quarter report a profit of $5 blion over a year, $20 billion. this is a loss of $2 billion, $3 billion, $4 billion, which would be in luck to you and me, but to this banknk is a drop in the pocket. i'm with colby. if you want to ban proprietary trading, fine. but thidea that you can regulate its -- there is no way a regulator will stop a bad trade. >> true, but why can a bank be a bank and a trader be a traito >> we used to have glass- steagall. >> commercial babanks now pform

the same function that investment banks performed. >> during the clinton administration. >> it was a mistake. i said that many times on this show but this is what we're faced with. charles is right -- if anybody takes a hit, i guess the shareholders not the taxpayers.

>> a fire of debt is sweepin across iowa and the nation, and every day we fail to act, it gets closer to the homes and the children we love. >> i insist that the princiciple of cuts and reforms greater than the dedebt limit incncrease is the ononly avenue i see right now to

foe the elected leadership of this country to solve our structural fiscal imbalance. >> you are watching the "inside washington" retrospective. we had this debatete last summer and apparently we will have this again this summer i that the voters will really enjoyed the debate this time around, nina. >> i am like the voter i am not going to enjoy it at all. the plan that republicans in the house what has already been rejected even byome republicans in the senate. thisis is -- we are playing with fire here. i wish i thought that both sides cocould sit down and do a grand bargain,ut there seems to be little indication that the republicans in the house, or a substantial number of them, reallyly want tmake the kind of compromises that are necessary. i am sure there are democrats in

the senate who don't want to, too. t that is at is holding his back. -- this back. what you see is a faction a big faction, of republicans prevenenting a grand bargain las time, but i am afraid there will not be a grand bargain this time. >> where arere the voters on this, mark? >> the voters are for expenditur and economy. that i is basicallyhere they margaret aays for general economy and specific expenditures -- that is basically where they are. they are always for general economy and specif expenditures. what surprised me with this s is john boehner goingng public. this was a scalding moment for the republicans, and they have not recovered ithe public opinion polls since last summer, when they y took the blame.

i'm just surprised that he would even mention t this, because it seems -- he seems too good a politician into smart and savvy to rai this again. >> is the country in danger of another dngrade this summer chars? >> no, but if we reelect obama, we will have a downgrade, itit probably something like it of all -- not a real default,t, but we will head that way obviously, because you cannot sustain trillion dollar deficits as far as the eye can see. if romney wins, this is a moot issue. if obama wins, it is also a moot issue, because we will have the expiration of ththe bush tax cuts, the payroll tax, a tsunami of taxes and increases in spending as well. that will be a minor issue.

i think the reason john bhner praised it is to make it an issue. it will only y happen after election day so it will not have any efct on the real world. >> colby? >> i agree that he is trying to make t the deficit an issue. people look at the question of greece and say that 're heading in the direction of greece. it inot because of those issues that we're heading in the direction of greece. the problem we are witnessing in greece, we are witnessing in the united states. the leadership addressing problems that are well known and right in front of us -- the gridlock you see any greece is also gridlock we have,olitical gridlo, in the united states, and to try to put this on the face of obama is ludicrous. we know what is happening. the republicans will never agree

anything that will allow a compromise -- >> democrats had control of the house, the senate, and the presidency for two years and did nothing on entitlements -- >> how can you- >> nothing otax reform, and that is what is killing us econonomically and destroying our treasury. unleless you get learship on that, you get nowhere. >> with the structure of e republican party, you cannot get anytng done. >> if republicans run on the paul ryan budget in 2012, they are committing an act of political self-immolation.

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qualified, intelligent, powerful woman. i think that her political views should not be a reason not to have her speak. >> kathlhleen selius, the secretary of health and human services, has been invited to speak at an ards ceremony at georgetown university, a catholic university. the bishops are not happy about that mark. >> the bhops are not happy about it because the bishops are opposed, a to the obama healthcare plan and to the provision and that would provide for contraception coverage. at the same time, what seems to be overlooked is that this doeses bring health care to those w wit disabilities, those without health insurance children, the elderly, destitute. that seems to have been missed in the debate. >> sebelius is also pro-choice. >> absolutely.

but this is a university. ununiversities are supposed to have a wide diversity of views. she is not g getting an honorary degree. d bless the president of the university, who has twice ththis year stood up fo that principle. the catholic church can do whatever it wants. it is a jesuitnstitution. but if it wants to be respected university, and it always has been one of the top universiti in the country, it cannot be shutting down people because they don't agree th them all the time. >> if the secretary sebelius was speaking at american uversity, howard university george washington university, this would t be an issusue at all. she is speaking at a catholic univerty. it is between the cardinals and the university and the cardinals to exercise some authority. >> interesting to hear it nina

say universitieies ought to respect a wide diversisity of the views. that will be news in harvard, yale pnceton,nd georgetown. her sin is declaring that catholic hospitals and charities have to provide contraception and that is opposesed by the catholic churcrch. >> thahank you. see you next week.