the internet ecosystem requires a lot of players to act to make the internet a safe place for financial commerce and good computer hygiene, representative malone -- maloney mentioned business customers to are not even running anti virus software. that is critical. and the industry, telecommunications, and software manufacturers. >> they can't allow consumers, anti virus software, malware, and institutions, and transactions. >> that particular step to do that, agents and an institution would play on customers' computer so some institutions may choose to go down that road. to make that decision. this goes back to the guidance which says look at layered security and to validate, do you think the customer is doing that transaction? is that in keeping with the customer's pattern of behavior? without necessarily looking at the wholesomeness of that particular computer? >> how many institutions, miss cantley and others who want to answer how many companies use cyberinsurance to protect against liability. still in infancy. what folks out there used that? >> we get back to you, and second infancy, decade

. >> political uncertainty on top of financial uncertainty has basically brought commerce to a standstill. the only thing being bought or sold was food. with the government soon to be formed there is a hope it could kick-start the economy. there are small, positive signs says ionis kent his company the third largest hotel operator in the country. tourism across greece is down but today kent's last-minute bookings shot up 30%. new consumer confidence after the elections. >> they love greece, you know, many holiday makers, they love greece. >> reporter: but victories for the 17 nations that share the euro are short lived. to avoid default greece will likely need another big loan in a matter of weeks. from the g20 summit in mexico, german chancellor angela merkel warned greece that there would be no easing of the bailout demands including labor reforms and budget cuts. and fears of contagion are growing. spain increasingly needs to borrow money from global markets to stay afloat. today it watched those costs reach a record high. >> their banks made a lot of loans into a real estate bubble th

the internet ecosystem requires a lot of players to act to make the internet a safe place for financial commerce. certainly, a good computer hygiene is important. representative maloney mentioned the report. we have consumers who do not pass their computers. that is critical. we have to get the message out to people that that is an important step. and then the industry telecommunications and financial have a part to play as well. >> at what point will the industry determine that they cannot allow consumers who do not run anti virus software and maybe now where software -- malware software to connect your institution and perform transactions? >> that particular step to interrogate a customer's computer to do that requires agents that an institution would have to play on a customer's computer so that some may choose to go down that road to make that decision. what i would say is to go back to the guidance that we have that says to look at the laird security and what you're doing to validate. is that the customer log in? do you think they are doing that transaction? and this transaction is keeping

financial interest in the case. >>> federal officials say commerce secretary john bryson suffered a seizure in connection with two traffic accidents over the weekend. bryson seen here with president obama is under investigation for felony hit-and-run. saturday, police say bryson rear-ended a car in san gabriel. he got out of his car and spoke with the men and got back in his car and hit the car again as he left. the men followed him calling 911. five minutes later bryson allegedly hit another car. >> when he struck that vehicle, he was later found unconscious behind the driver's seat. >> bryson was taken to the hospital for examination and remained overnight for observation. he was released and returned to washington. no evidence that drugs or alcohol were involved. >>> right now we are learning about the new software revealed at the big apple worldwide conference at mosconey center. >> reporter: good morning. siri kicked off the conference she made a few jokes, the female voice that comes out of iphone. then ceo tim cook took the stage. [ applause ] >> reporter: this is cook's first keynote speech at the develop

financial interest in the case. >>> federal officials say commerce secretary john bryson suffered a seizure in connection with two traffic accidents over the weekend. bryson seen here with president obama is under investigation for felony hit-and-run. saturday, police say bryson rear-ended a car in san gabriel. he got out of his car and spoke with the men and got back in his car and hit the car again as he left. the men followed him calling 911. five minutes later bryson allegedly hit another car. >> when he struck that vehicle, he was later found unconscious behind the driver's seat. >> bryson was taken to the hospital for examination and remained overnight for observation. he was released and returned to washington. no evidence that drugs or alcohol were involved. >>> right now we are learning about the new software revealed at the big apple worldwide conference at mosconey center. >> reporter: good morning. siri kicked off the conference she made a few jokes, the female voice that comes out of iphone. then ceo tim cook took the [ applause ] >> reporter: this is cook's first keynote speech at the developer's co

she was a senior financial analyst in the philippines, working in the commerce department of the government for 22 years before our immigration. with her past experience, she considers it a major downgrade. my mother has always wanted a job that relates well with her past experience, but finds it frustrating that she cannot find a job. for that, she blames lack of connections and resources available in district 11. as a future part of the work force, the situation worries me. she has had more than sufficient professional experience in the past. why can't she obtained a job that is a better fit for her? does that mean that no matter how much i invest in my future career, i would not obtain a job i deserve? it is something i think about often. i feel it limits my options on the career i would like to pursue in the future. thank you for your time. i urge you to consider investing more work for resources for district 11 resources like my mom. >> good afternoon. i am a district 11 president. i take care of my elderly mother and an active with the filipino community center. i worked as a janitor.

agriculture, commerce, justice and science and the financial services one. a story this week that looks at the appropriations bills not only dealing with them, but what they do about specific aspects of organizations that were created under dodd-frank. here's what here is what it says, the financial services go for 2013 would make a new -- that would make a new consumer financial protection bureau created by dodd/frank. subject to the appropriations process and allows it to receive money from the federal reserve. it says the ag bill says -- offers $128 million less in funding the obama administration wanted with commodity futures. are there cuts within these bills that deal specifically with these financial services arms of the practical government? >> depends what you are comparing it to. comparing it to the president's request, yes, absolutely. president requested one number or appropriating a different number. that's part of the debate. the president's budget that he proposed to the house and the senate just continued the deficit and the debt and required

commerce jobs summit. coming up, a discussion on financial regulations and the internet. >> good afternoon. i'm toby mack, president and ceo of associated equipment distributors. proud member of the board of the national chamber foundation. this afternoon, it's my pleasure to introduce tom donohue, president and ceo of the u.s. chamber of commerce. representing the construction equipment industry for a good number of years, i've worked closely with tom in the chamber on some of our nation's most pressing priorities, particularly the rebuilding of america's oar cairk and crumbling transportation infrastructure. under tom's leadership the u.s. chamber is the nation's greatest champion of free enterprise, american competitiveness, and market capitalism. you can't miss the huge jobs banner on the face of this building as you come up the front steps. jobs and lots of them are what result when the chamber's growth and competitiveness agenda becomes policy. that agenda focuses on expanding trade, strengthening capital markets, driving the energy revolution, reforming our regulatory and legal syste

risks of using crisis deepens the country's second largest lender commerce bank numbers as well as three of austria's largest financial groups it comes a day after standard and poor's predicted the one in three chance of greece leaving the eurozone after the country's general election later this month. period has been hit by a wave of sectarian violence as explosions and gunfire rocked the country's north nineteen people were killed after gunmen attacked police officers in the scene of the heaviest pointing which article it is mr sect boko haram want to be behind the strikes becomes a week after three died and dozens were injured in a suicide car bomb attack in a church in the area. mexican police have found seven dismembered bodies in the pacific coast state along with the message accusing authorities of cooperated with the taurus drug lord security forces think the drug cartel founded by defectors from the mexican army which gruesome trio of opponents could be behind it drug violence has killed more than forty thousand people in mexico since the president. in two thousand and six. the time for business is now and it

commerce bank on its name. for three of australia's largest financial groups it comes a day off the standard imposed predicted that one in three chance of greece leaving the eurozone after the country's general election later this month. well time for business news now crossing with marina hikari well it seems that it has had no effect on european investors whatsoever if we take a look at the markets because it just kicked off the trading session will see that they're all and positive territory the footsie of course is out trading after a two day break as the brits were celebrating the jubilee we can see that the footsies gain in point eight percent of all the dax has recovered the losses from tuesday and it's gaining slightly over one percent there and also we know that later today the european commission will unveil a new proposals to make sure taxpayers' money isn't used to bail out failed banks and they want to prevent banks from dragging down the entire system and of course this issue was highlighted with the problems related to greece and spain let's not forget that spain is currently trying to find some one

abuse and crisis deepens the country's second largest lender commerce bank is among the dangers where there's three of austria's largest financial groups becomes a day after standard and poor's predicted one in three chance of greece leaving the euro say the country's general election later this month. but the top of the business there it is waiting for us there thanks carol we started this hour with the russian markets because they just kicked off the trading session and if we take a look at the latest figures we'll see that they are in pauses of teds or with since we have a little glitch there we go as you can see the r.t.s. is adding a point eight five percent when it comes to my six point three percent higher now when it comes to my sex it's now above the psychological mark of thirteen hundred points which is also an urgent for investors there so we're hoping to see a more productive day today compared to yesterday which was a mixed performance now let's move on and take a look at current seas and see what the latest figures are when it comes to the euro it's again then against the dollar and when it comes to the ruble it's

commerce, tells us why the bottom keeps falling. >> we spent $1.2 trillion directly stabilizing the financial markets and another $2 trillion indirectly through the fed stabilizing those markets. it worked. we spent virtually nothing to stabilize the housing market. those values continue to go down, and so we have increased inequality significantly through this event. >> question. have you connected these dots, pat, and if so trace them for us. >> first off, take all your stocks and bonds. 90s% of those are owned by the top 10% in terms of income. those folks can go down the roller coaster and come back up. but you take, with the housing market, that is the one big asset, take $250,000 for each person. when they lose it, they lose everything, john. and what continues to hold housing prices down is millions of houses sitting out there on the market. secondly, the people that got wiped out, you no longer can have no documents and no money down and all these benefits to get back into housing. you are out of that, and so that was the number one asset basically of the middle class, and i think the people who have been saved in this recessi

this week the school board voted to remove her after learning financial problems and they put in place interim president the dean of the commerce school. he has publicly said that he opposes the firing of sullivan and even told the board did not want the job. he said that he only took it because of a breakdown in trust. virginia delegate joseph morrissey is demanding the school explain the firing and has started a donation web site in order to investigate the school and what happened. reporting live in falls church john gonzalez, abc 7 news. >> the florida police >who was criticized for his department's initial handling of the trayvon martin case is out of a job. sanford city manager says that chief bill lee was fired because he does not have the trust and respect of the entire community. this decision not to arrest george zimmerman after he shot and killed the teenager in february led to protests in the nation. zimmerman is trust with second- degree murder. >> it is 76 degrees outside. >> more fallout from operations fast and furious involving attorney general eric holder. and what is next for him after he was cited for contem

the finance, commerce moniinist said spain is asking the european union for financial help. calling it a loan. not using the word bailout. specifically used a fwhord spanish that means bailout. he said this is not a bailout. below market value coming into an official government organization in spain and be directed only at the banking sectors. he's trying to show this is a very limited operation but an unprecedented operation for spain calling on its european allies to provide some help to its very troubled banking sector. fredricka? >> so, al works it lead to deep austerity measure, similar to what we saw in countries like greece? >> reporter: there already have been deep austerity measures. what he hasn't given is the actual figure. there's been an estimate from the international monetary fund of at least $60 billion u.s. dollars is needed and another part of europe here at about this hour we're supposed to see some numbers possibly of what is being asked for, what europe is offering. we don't have number just at this moment. therefore, we don't know, fredricka, whether th

moody's downgrading seven bits major banks commerce bank second largest bank is to teach justifications that europe's economy cannot withstand potential financial shocks matters in the euro zone deteriorate. also here two or three of those largest financial groups this just a day after another agency standard and poor's so there was a one in three chance of greece leaving a single currency in their future. time to business news now it's course able to marina thanks carol well of course following the european markets someone the last war expected would see the markets head south but we're seeing a completely different picture if we take a look now at the latest figures we'll see that both the sea and the dikes are posting gains today footsie is up over one percent in the dikes and slowly approaching one of the half percent in the black and also we know that investors are waiting for a key interest rate decision made by the european central bank and many analysts are speculating that it will be left unchanged at one per cent and also e.c.b. staff are expected to downgrade their growth projections if that does happen it's safe to say that we will

risks using crisis deepens the country's second largest lender commerce bank was among those named as well as three of austria is not just financial groups comes a day off the standard and poor's predicted one in three chance of greece leaving the eurozone countries general election like this one. well time now for the business is. thanks carol well as every morning we are following the asian markets which are the only one straight in right now so let's take a look at the latest figures and see what's happening there now as you can see right now the asian markets are extending choose the gains we have the nikkei that skated over one and a half percent and similarly with the hang seng getting just over one percent in hong kong we have property and consumer stocks them particularly well and now we have a weekly again which is question exports higher in japan now they had dropped after the group of seven finance ministers as well as central bank governors held a conference call meeting yes they suit discuss the euro zone as well as other matters and in fact japan's finance minister said that they are not opposed to tokyo taken action

financial institutions. the rating agency cites higher risks of a worsening inequality of the bank's assets. >>> the downgrades include germany's second largest letter commerce bank. moody's says the risks of contagion from the eurozone crisis could dampen the economic outlook even more. they also noted that the banks have limited capacity to absorb losses out of their earnings. moody's said that compared with other european banks, the impact of the debt problems on german lenders has been minimized, but market watchers think the downgrades are largely due to the fact that german banks hold state bonds issued by ailing countries. another factor is the huge amounts lent to businesses outside germany. >>> south korean president myung bak said his government will deal strictly by any provocations by north korea. he made the statement in response to threats from the north. >> translator: we will punish any provocations in a strict manner. >> he went to the national cemetery and paid tribute to fallen soldiers, including those who died in the korean war. u.s. troops brought remains back to seoul last month. >> translator: finding other soldiers' remains in north

commerce. so i want to talk briefly about the kind of financial costs you need to be thinking about if you're thinkingpplies to whether you're currently working, planning your future or currently on unemployment. first thing is you've got to remember, start-up costs. where are you going to get that money? again, good news, not as high as they used to be, if you're doing around net-based business. where do you get the money? a small business. >> feed money. >> feed money. what are ongoing home expense, the bare bones budget? have six months minimum. >> pay for electricity, food, still goes on. >> great to have 12 months. possibly the most important and most overlooked is health insurance benefits. health disability life insurance, too many americans are so dependants to take care of insurance needs. they find themselves unemployed -- >> can you afford to still -- >> exactly. absolute-o absolute-o absolutely. >> an interesting and intriguing first sthaep really could get folks thinking. >> i think entrepreneurialship is coming back in a big way and i think it's a future of america. if kbrur unemployed a

chamber of commerce is saying the reason they oppose this is because it was encourage financial settlements be punitive if women choose to pursue action against employers for not giving them equal amounts of pay, but that's the point, isn't it? isn't that the point? there should be equal pay and if there isn't, women have a right to pursue that legally-how can that be wrong? republicans in the chamber of commerce have long been on the side of big corporations against people who are legitimately victimized. i mean, that is a long-standing pattern, and that is certainly the case here. and also with mitt romney in texas, texas has an interesting issue going on right now, too. rick perry and his republican allies have essentially gotten into a pissing match for lack of a better term over funding for planned parent and over 100,000 low income texas women are in danger of losing access to any kind of well-woman preventative care. i'm very interested to see while he's on the ground there if he gets any questions about what's going on in texas because that's something that we've seen playing out at

commerce law? >> for all intents and purposes, it is the same for all americans. there is financialistance for those who can't afford health insurance and medicaid will cover low-income people. so, it's really a name change. >> i see. so, is there anything in our history that we can compare the supreme court decision to? is it that major a decision? >> i'm not an attorney, and not an a expert in the supreme court, but it certainly the biggest decision i think we've seen in the past few decades. >> and we're going to continue to hea the fighting, the squabbling between the republicans and democrats, i'm sure. thank you so much for coming in to talk to us about this and, of course, we'll carry the president's response to this, which is expected at 12:15 today and we'll carry it live here at 12:15 on nbc. >>> well, right now golfers are hitting the links for the first round of the at&t national golf tournament. after a two-year absence, it's back at the congressional country club in maryland. melissa mollett is live at the club near the practice range. melissa, tiger woods sighting yet

do or not do they didn't use the commerce clause or thing about they relied on the taxing power but that's troubling the second thing is is that you know from a financial point of view and you can talk about the politics of it and stuff like that but there's no question that obamacare is going to be massively expensive and it's going to be many much more expensive than we were led to believe and then the third reason is that there's a very little reason to believe that despite expanding health insurance to cover you know some thirty million extra people it's not at all clear that this law is actually going to lead to better health outcomes for anybody in america so i think it's you know i think it's a pretty significant loss for the american people what this law does do is it would require everybody to be covered it also covers things that the american people seem to be in agreement and in terms of it being able to be remain on your parents' insurance until you're twenty six years old preexisting conditions you can't get deny it if you have preexisting conditions these seem to be very positive things for people that fear that they won't be able to get

the commerce clause, as was written into the law some people thought this was going to be overturned and congress saying if you fail to get health insurance, there is a penaltier if that, a financial penalty. justice roberts called that attacks and said that congress does have the right to tax. therefore, the individual mandate is constitutional. justice kennedy, speaks for the minority, including justices thomas aleto, and scalia. justice kennedy said you changing what the congress intended and never used the word tax. how can we all of a sudden, the court say this is a tax if you don't sign up for healthcare. this is interesting. and three of the justices spoke. initially roberts and then kennedy and justice ruth bader ginsburg talked about why she thought the whole thing should have been okay. it wassing about -- interesting and there. >> from the inside, i am curious what it was like, surprised that justice kennedy was not the deciding vote or swing vote here. a lot of people thought he would be and where chief justice john roberts, who traditionally is a conservative, became the deciding vote in this. what was -- what happened inside the court when that became clear? >> and j

attorneys and a financial interest in the outcome of this day defense attorney joe amendola says sandusky loves kids so much, he does things that most of us would never dream of doing. >>> commerce secretary john bryson was charged with felony hit-and-return after two accidents that may have been caused by a seizure he suffered in california. he caused the accident saturday evening, was found unconscious and hospitalized overnight for observation. police say drugs or alcohol were not factors in either accident. bryson is back in washington now. he is 68 years old. >>> lawmakers say holder has not produced all the documents they subpoenaed in their investigation. >>> into the fast and furious investigation. however, many of the guns were never traced and some were found at the scene of violent crimes. in december of 2010, arizona border agent brian terry was shot and killed with a gun linked to the "fast & furious program." holder says the department has fully cooperated. >>> there's new campaign commercials that take opposing stands on public servants such as police officers. it's not the work they do that's the issue, it's their pay. steve handelsman has our story. >> reporter:

actually have a financial plan in place >> what did you think the odds are, because that is the next that. >> your asking the right guy because i am one of six legislators that sit on the commerce committee for pension reform and personally i can tell you and my colleagues feel the same way that we want to deliver the 12 items that the governor has proposed for pension reform. we think it is a very good for steps that you will probably see that appear in late july or august. august 31st would be the deadline but that package is essentially one of the most important components to the work we do this year in sacramento. >> the budget includes triggers which are cuts to education funding and other cuts that we be very unpopular. >> this is how they can sell to voters because if they don't, we will see some major issues when it comes to education funding >> that is where you are finding criticism from republicans were not in the bay area so we get a hard time getting them on the show. >> at this point your holding education hostage is one of the main criticisms >> that is why we will see a very healthy campaign on this in november. >> from the crowds to the roadblocks we have seen

commerce school dean will become interim president when sullivan officially steps down in august. and j.p. morgan chase boss jamie diamon back on capitol hill. he was called before the house financial services committee to explain how his bank lost $2 billion in bad trades last month. he said changes in risk models and strategies led in part to the loss. lawmakers asked whether investors were fully informed about the changes to the risk models. >> did you think that that was adequate disclosure? >> we disclosed what we knew when we knew it. >> in hindsight, the traders did not have the requisite understanding of the risk they took. >> last wednesdaddiamo nichlt t. they are investigating whether the earnings report in mid april gave adequate information on the risk model the bank was using. >>> the godfather of go-go may soon be part of the city that forever loved him. d.c. mayor wants to designate part of langdon pierk at chuck brown park. he died at the age of 75. mayor grey first brought up the idea of a park dedicated to the legend during the memorial service. the d.c. counsel has to approve the mayor's proposal before it can become a reality. >>> a spear gun pierces through a t

under the constitution's commerce clause to require individuals to purchase health insurance, as obamacare does. however, the federal government does have the power to impose a financial penalty on people for not complying with the mandate the federal government has no authority to impose. that's because the penalty is actually a tax under congress' constitutional taxing authority. however, the penalty is not a tax for purposes of the antiinjunction act which would preclude the court from considering the legality until someone actually pays it. obviously, mr. president, these dilemmas require some explanation, and it may be -- and this is my phrasing, not bob robb's, that this is a good example of where the phrase legal ledger germane comes into play. robb continues -- "if congress has no authority to require people to do something such as purchase health insurance, how can it penalize them for not doing it? and how can money owed exclusively because of failing to comply with an unconstitutional mandate be regarded as a tax and not a penalty?" he goes on to say -- "the purpose of the constitutional taxing power is to raise the money to operate the government. the clau

commerce carried out a survey, some 1,500 businesses across america. 75% of those people surveyed said obama care made it less likely for them to hire people. think of that. then there was this financialrm. dodd/frank. you got some bankers, everybody goes to a bank from time to time. go to your credit union or bank and ask them, did dodd/frank help you out? did it make it more likely for you as a bank to be able to renegotiate loans with small businesses or help people with their mortgages? did it make it easier for you to make new loans? or did dodd/frank make it harder for you in the banking business? did it make you pull back? what you're going to hear is that small business was not helped by dodd/frank and small banks and community banks weren't helped to make loans because of dodd/frank. then there were the president's energy policies. now i know today he's going to talk about all how he's going to really give a boost to energy. talk to the people in the coal industry and ask whether his regulations have helped them mine coal. and what they'll tell you is, on almost every front, he's made it harder to get coal from the ground and made it less likely for people to be able to use i

chamber of commerce their computer networks were compromised and confidential communications and industry positions were accessed. financial services are a big target of course because the old saying willie sutton noted where the money is, financial services businesses have been leaders in an effort to armor their data networks and identify and deal with any actual breaches as quickly and as transparently as possible. so the cows cost of to business consumers is difficult to quantify. we must ensure we have the proper safeguards in place to thwart or minimize future attacks while at the same time proteching privacy of citizens. consumer confidence plays a significant role in any transaction made by individual or small business. unfortunately, just as there have been many numerous instances of identity theft out there where individuals have credit cards stolen or accounts looted there have has been significant rise in corporate account takeovers as well. so cyberthreats come in many different shapes and sizes. we're familiar with the threat of identity thefts i know about that according to a recent research study identity t

. >> commerce department is considering to adding them to socially and disadvantaged minority groups. arab-americans will be eligible for financiale and other hand outs. arab-americans were not getting a fair shake. africa-american and hispanic-americans and jewish-americans qualify for this type of assistance. >> and a party that the president will not forget. george bush celebrating on the red corpet. it took place in maine. former president even joked about the one person in his life he might not wanted to see this film. >> i am glad my mother is not here. it is all about you, george. >> i have to apologize. >> it is a big day for the bushes. we have a lot of happy thing in our lives and this film and having so many friends around is great. >> what was it like to see your son elected president? >> very emotional for me and very proud father. first time it's happened in the history of our country or since the adams. >> tomorrow night 9:00 p.m. eastern on hbo. >> invite our friend jerry. >> and tell us about the sports. >> they did a great interview with their father. >> and game one in the finals of the miami heat and leading t

commerce carried out a survey some 1500 businesses across america, 75% of those people surveyed said obamacare made it less likely for them to hire people. think of that. then there was this financialegulatory reform, dodd-frank. you've got some bankers, go to our credit union or bank and ask them, did dodd-frank help you out? the did it make it more likely for you as a bank to renegotiate loans for people with small businesses or with mortgages? did it make it easier to make new loans, or did dodd-frank make it harder for you in the banking business? what you're going to hear is that small business was not helped by dodd-frank, and small banks and community banks weren't helped to make loans because of dodd-frank. then there were the president's energy policies. now, i know today he's going to talk all about how he's going to really give a boost to energy. but talk to the people in the coal industry and ask whether his regulations have helped them mine coal and what they'll tell you is on almost every front he's made it harder to get coal from the ground and made it less likely for people to be able to use it. as a matter of fact, as a candidate he said if you build a coal-fired p

because the financial penalty for failure to comply with the mandate is administered through the tax code. and that was the argument they made to the court. we're all looking at the commerceof course. but this is about -- this has turned out to be about taxing power. so politically nobody said this was a tax, but legally, this was the argument -- >> that they would be providing the penalties that were required to purchase health insurance who didn't after 2014. and as a result, the irs would have to hire a lot more people to implement this. >> exactly. >> it was seen by the justices as a tax. >> it's going to be administered through the tax code. they say it reasonably relates to the raising of some amount of federal revenue. therefore, it is a tax. >> wolf, don't forget, during the arguments, the justices were grappling with how do you uphold essentially the guts of the law if you strike down the individual mandate. it wouldn't be surprising that they're saying there's a way to in essence keep the commerce clause as is, striking it down, but still not gut the law. i wouldn't be surprised if roberts recognized the long-term implications of striking down the health care la

commerce clause but found a reason it is constitutional. chief justice writes the the affordable care act requirement that certain individuals pay a financialr not obtaining health insurance may reasonably be characterized as a tax, because the constitution permits such tax, it is not our role to forbid it, or pass on its wisdom or fairness. he is saying you can have this law. >> he was doing what he said he would do in confirmation hearings. he said i am not going to be an activist. i am not here to pass judgment on whether if i were a congressman i would have voted for or against it. he said is this law permissible under the constitution. what was so flabber gasing about the opinion today was that the core of the debate had been about whether that commerce clause permitted congress to pass this. that's what most of the attention was on, and he began his opinion from the bench by saying the commerce clause does not allow the congress to pass this. but then in a stunning, stunning development, for me, he said the taxing power, which was a relatively minor part of the legal argument in this case allowed congress to do it. and he completely j

commerce clause, no under necessary and proper, but yes it appears under the taxing power. this is the key line, the affordable care act's requirement that certain individuals pay a financialt obtaining health insurance may be reasonably characterized as a tax, because the constitution permits such a tax it is not our role to forbid it or pass upon its wisdom or fairness. that language from the chief justice sounds like no under commerce, no under necessary anr under the tax provision and the power of congress to tax that that particular reading, this survives apparently because of that language, because the constitution permits this kind of tax, not a role to forbid it or pass upon its wisdom or fairness, that is on page 44. bill: how many pages are there? is it several hundred, by the way? >> reporter: i say a couple hundred. it's broken into several different 50 to 60-page opinions. a couple hundred. bill: keep reading that. i'll get to karl rove. and the judge. >> reporter: here is the bottom line from scotusblog. the mandate is constitutional, chief justice roberts joins the left of the court. the entire affordable healthcare act is upheld as constitutional, with the

protecting the financial stability of the federal government, and even though the minimum courage provision of the affordable care act is an exercise the congress taxing power as well as commerce, congress has authority end of the taxing power to enact a measure not labeled as a tax, and it did so when it put section 5008 into the internal revenue code but for purposes of the antiinjunction act the precise language used is determinative and there is no language in the antiinjunction act and section 5008 in the affordable care act or the internal revenue code generally that provides a text will instruction. >> you are arguing that penalty is not tax. tomorrow you are going to be back and you will be arguing that the penalty is a tax. has the court ever held that something that is a tax purposes of the taxing power under the constitution is not a tax under the antiinjunction act? >> no, justice alito, but the court has held in the licensed tax cases something can be a constitutional exercise of the taxing power whether or not it is called the tax and that is the nature of the inquiry we will conduct more was different from the nature that we will conduct today. tomorrow the ques

financial services committee. we will have that live as well, tuesday, 10:00 a.m. eastern, on c-span3. in under 10 minutes, we will take you live to the u.s. chamber of commerce in washington. they're hosting a daylong discussion on a jobs in the economy. the event includes the release of the third annual enterprising state study which would said house is of it states are doing in today's economy. we will have that when it starts at about 1:00 p.m. eastern. until then, "washington journal" viewers way in. host: here is a net line from this morning. fast and furious. face-off on gun running. hearings on the hill heating up. the attorney general came under attack tuesday from republicans over his handling of the fast and furious gun running investigation, including a call by one senior senate judiciary committee member for is resignation. during a heated exchange during an oversight hearing, senator cornyn of texas said mr. holder failed the standards of accountability, and determining who knew about it or approve the walking of guns into mexico. america deserves an attorney general will be honest with them, he said. what did you think of the face- off that hap

financial inducement to get you to behave in a certain way. now what you have is the claim that they can have on regulated taxes. what the court gave with one hand with regards to the commerce clause they took away with the other in regards to the taxing authority. it may indeed be a new font of information traditionally be on the regulatory authority of congress. when i began we suggested that in this particular case the court twisted these debt to more than the constitution. he might be sang what they have done that sounds like a contortion of the statute but where is the constitutional twisting. the court gave it short shrift. they did less than capable work on the description of what sort of tax this was. they assumed it fell into the category of income tax because the irs was administrating it. that is not quite good enough for constitutional purposes. inmate more aptly be described as a capitation tax. these exceptions are quite frankly making it unconstitutional in terms of its -- they have to be apportioned evenly among the states. by having so many exceptions a potentially would make it unconstitutional. you may be asking why do i know something about this obscure