we begin this evening request jack lew. ''s the chief of staff for president obama. >> different styles president obama will tend to come in a quite tight lawyerly way. president clinton likes to hear more of the discussion, to think things through. they end up in the same place in the sense they have gotten out of the people that work for them everything they know and they're making the decision based on fact and. >> we condition request john podesta former chief of staff for president clinton and director of transition. >> what's really critical is for him to frame the choice about what this election is about. 2 very, very different view tion and approaches to the us economy. he's got credibility about what works and what doesn't. i think he can remind people about what has worked for them in the past and set a path for the future. so i think one of the things that he will do is spend his time talking about the challenges that president obama faced, the way he responded to them, why those were the right choices. >> charli

these -- they put jack lew in this position but then if he doesn't get it who else is out there?wo interesting names. erskine bowles is a name a lot of people talk about as having a good possibility. he is someone who theoretically can work with republicans. formal wall street guy. co-president of president obama's budget commission. very good ideas widely ignored by the president. he is a guy republicans like. you want to do a major budget deal with republicans, erskine bowles can make that happen. the other guy i hear a lot about is a guy i know very well and consider a friend. very decent man who is the ceo of black rock. larry wants the job. no doubt. he has been at the top. and amazing career on wall street. top trader at first boston early in his career started black rock as a subsidiary of blackstone and spun it out and the biggest money management firm in the world and he is one of the smartest guys and if there's a european financial crisis, just anybody on wall street so he is a good guy and if you worry about wall street imploding he might be a good one. cheryl: we lau

jack lew is inside the white house and white house chief of staff pretty high marks.hey think he is the most likely guy to be treasury secretary according to the people i talk to. major wall street ceos and the executive suite players i deal with. to comes after where it gets interesting the names that are bounced around erskine bowles from north carolina considered a moderate to conservative democrat bonn the president's deficit reduction committee with alan simpson and pretty good and we should point out he is there too but the president ignored a lot of his -- [talking over each other] >> he is seen as a guy who can bring democrats and republicans like him. the other guy out there whose name is bounced around and bounced around for four years is the ceo of black rock. i consider him a friend. the upside to larry is clearly there is no smarter guy on wall street that i know. he saw between trading and an entrepreneur. and associated -- the obama administration -- there's a european financial crisis, he understands financial instruments, and erskine bowles is a diffe

israeli officials about this, the treasury officials and israeli ambassador at the israeli embassy, jack lewed them all about it. treasury officials say eventually they'll bite. that's what hillary clinton said. the israeli ambassador says that's not the case. his view and netanyahu's is that the iranian people will let their people starve before they give up the program. yes, the sanctions are work. they're working on the economy. but the israeli viewpoint is they're not working politically because iran's government will never yield. >> they'll let their people starve rather than give up the nuclear effort. >> the quote was they'll let their people eat onions before they will give up their bottom. that is the israeli position. >> so give us an outline of what the sanctions might be doing now within iran. >> i think as andrea pointed out, they are working. and this is our diplomatic approach. this is the way to attempt to force their hand or at least weaken it significantly. and it works. it's not the political situation that israel wants, but it's working. this is all such a precarious bala

>> you could or you could pass frameworks -- in 1997, jack lew and i were part of the balanced budget agreement where we came up with a detailed plan deadlocked both parties in. it was a memorandum on understanding, mou. what has blocked this from happening is an ideological resistance to having the type of balanced plan, shared sacrifice, revenue and entitlements that as part of every budget agreement is how we had a social security agreement in 1983 and have you had a budget agreement in 1990 and have you dealt with a deficit reduction in the 1990's under president clinton. even prime minister camera on and my friend as chancellor osborn who are the poster boys for fiscal austerity -- he always reminds me that their plan has $3 of spending cuts for every dollar of revenue. it is about the exact same as president obama. it is proposing. it is only extremism and the ideological rigidity of those who are suggesting that we should do this all on the spending side. if we can break through that resistance, there are a lot of ways to make progress. the idea that president obama is going to

in 1997, jack wu and i were part of the balanced budget a agreement-- jack lew and i came up with a very balanced budget agreement. we came up with a memorandum of understanding. the point is what has blocked this from happening is an ideological resistance to having the type of balance plan, shared sacrifice, revenues and the entitlements that is part of every budget agreement. it is how we had a budget agreement in 1983. how we had a budget agreement in 1990. it is how you dealt with the deficit reduction in the 1990's under president clinton. even prime minister cameron and my friend chancellor osborn, the for fiscalboys austerity, they always reminded their plan has been two to $3 of spending cuts for every dollar of revenue, the exact same as president obama. only the extremism and the ideological rigidity of those who are suggesting that we should do this all on the spending side that has kept us from having an agreement. if we can break through that resistance, there are a lot of ways to make progress. the idea that president obama will agree to these -- i believe are harsher budg

an agent named lew wasserman who represented mca, got the idea with jack benny on radio and then later jimmy stewart in the movies to incorporate the stars, one pillar of the system. (douglas gomery) he had them set up an independent company and then pay the company, rather than the star. hence, it would be taxed at approximately half the rate. (narrator) with major company movies going to company cinemas first, independent theatres weren't able to compete. they could only show films after they were played out and forced by the studios to book their entire output, good or bad. although the majors controlled only 16% of the cinemas, they were winning 90 percent of the total cinema box office. (narrator) in the mid-30's, the national recovery act was declared unconstitutional but it took until 1948 for the supreme court to finally put its nail in the system's coffin. it ordered the majors to sell their cinemas and function as distribution and production companies only. the classic studio era was over. paramount was the first to consent and as a result, its profits dropped from $20 millio

an agent named lew wasserman who represented mca, got the idea with jack benny on radio and then later jimmy stewart in the movies to incorporate the stars, one pillar of the system. (douglas gomery) he had them set up an independent company and then pay the company, rather than the star. hence, it would be taxed at approximately half the rate. (narrator) with major company movies going to company cinemas first, independent theatres weren't able to compete. they could only show films after they were played out and forced by the studios to book their entire output, good or bad. although the majors controlled only 16% of the cinemas, they were winning 90 percent of the total cinema box office. (narrator) in the mid-30's, the national recovery act was declared unconstitutional but it took until 1948 for the supreme court to finally put its nail in the system's coffin. it ordered the majors to sell their cinemas and function as distribution and production companies only. the classic studio era was over. paramount was the first to consent and as a result, its profits dropped from $20 millio