this man you're seeing is antonio weiss. he became obama's pick to become the top official for domestic financial issues. weiss is a wall street guy. he's an investment banker. he's the guy that white house wants for this job. obama has had trouble throughout his presidency getting republican support for his nominees. this time, when it comes to the treasure department job, the opposition is coming from democrats. and i wanted'st's elizabeth war writing in an op ed against this financial background and high lighting 20 years as an executive financial firm that specializes in something called corporate inveterans administration. that's when a u.s. company relocates to another country, mainly to avoid u.s. tax e taxes. it's practice that president obama has called aept-american. bernie sanders has now said that he will not vote for weiss. now, senator al franken of minnesota says that he will vote arguing that weiss's ties to wall street making the wrong fit for a job that is mostly about implementing wall street reform. foxes

this whole thing, this opposition by elizabeth warren and others to antonio weiss "is part of a much broader narrative of the fight for the soul of the democratic party, and whether so-called progressives are going to capture that or whether more mainstream democrats, who are equally progressive in their own way, are going to retain it." he said if the weiss nomination goes down, "it will be a long time before anyone else with wall street experience volunteers for this kind of job." >> boy, what a threat. wouldn't that be a great thing, if those people from wall street stopped volunteering? they don't want to stop volunteering. but that is the central problem in the democratic party today. rattner speaks for a faction, a minority of people but a majority of money. the other people that i'm referring to, i hope it's elizabeth warren or that she hangs in there and people like jim webb, are speaking for the majority. but the majority has much less money than this small minority of so-called social liberals on wall street. >> elizabeth warren, senator warren, made a speech this week in w

this whole thing, this opposition by elizabeth warren and others to antonio weiss "is part of a much broader narrative of the fight for the soul of the democratic party, and whether so-called progressives are going to capture that or whether more mainstream democrats, who are equally progressive in their own way, are going to retain it." he said if the weiss nomination goes down, "it will be a long time before anyone else with wall street experience volunteers for this kind of job." >> boy, what a threat. wouldn't that be a great thing, if those people from wall street stopped volunteering? they don't want to stop volunteering. but that is the central problem in the democratic party today. rattner speaks for a faction, a minority of people but a majority of money. the other people that i'm referring to, i hope it's elizabeth warren or that she hangs in there and people like jim webb, are speaking for the majority. but the majority has much less money than this small minority of so-called social liberals on wall street. >> elizabeth warren, senator warren, made a speech this week in w

so, that's why warren is upset about the nomination, she believes that the nominee, antonio weiss, is too cozy with wall street. she also accuses him of engineering in his role as the head of the american banking firm lazzard that a deal, in affect, made burger king a canadian company, there by shielding it from millions of u.s. tax obligations. warren's attacks on weiss are now drawing fire as well, most notably, from andrew ross sorkin of cnc and "the new york times." he is defending weiss and he calls warren's opposition misdirected, saying her understanding of the burger king deal is misinformed. elizabeth warren has pogued herself as the democratic party's leading crusader against wall street. now she is making this a test for her party. will they stand with her and stop the weiss nomination or should they even do that? here to discuss is msnbc contributor jared bernstein, who is also a senior fellow at the center of budget and policy pries and was vice president -- president obama's chief economic adviser and lenore pal dean know, economist and vice president of policy and outre

she's trying to derail the nomination of an investment banker named antonio weiss for position at thereasury department. senator warren's arguing a wall street executive shouldn't turn around and start regulating wall street. republicans try to block nominees to score political points. this move is on actual policy. dana, there seems to be a false equivalence, linking warren's fight to the far right. >> in a superficial sense she's bucking the party establishment, the way a ted cruz bucks the party establishment, but she's not trying to throw sand in the gears here. she's stating her policy objection right up front here. i think for the democrats as a whole, it's unfortunate because they could be at this moment, exploiting the rifts that are naturally existing on the right in the republican party as they take over congress. it would be nice to see that the white house could get on the same page with elizabeth warren and could get some of that populist energy going and back away from being just the second major corporate party in american politics. but when you have these disputes out

that is the context for thinking about the nomination of antonio weiss. years atthe last 20 the investment bank, and he has been named to be undersecretary for domestic finance at the treasury department. he is focused on international corporate mergers, companies buying and selling each other. interesting, challenging work, but it does not sufficiently qualify him for overseeing consumer protection and domestic regulatory functions at the treasury department. in addition to his lack of basic qualifications, mr. weiss was part of the burger king in version deal that moved the u.s. company to canada as part of a merger that would cut down on its tax obligations. also note that mr. weiss' friends at was art are giving him a golden parachute valued at about $20 million as he goes into government service. just one span of the revolving door too many. enough is enough. the response to these concerns has been let's say, loud. his supporters say,, on. he is an investment banker. he should be qualified to oversee collocated financial work at treasury. showns defe

i think with respect to -- antonio weiss, i'm a supporter of antonio weiss.reasury department needs wall street guys and i think he would be, you know, a good person. i think that, you know, you know, if jack lew and the white house thinks he is the right guy, obviously, the business community likes the idea. >> elizabeth warren positioning herself for a career in 2016 for a presidential race or for one down the road then? why do you think -- again, some have pointed out her own nominees to the cfpb, for example, had wall street backgrounds. do you think this is just politics or does she have a legitimate right to be upset about this no, ma'am facial? >> i think elizabeth warren represents a part of the democratic party that has a very loud voice urge the progressive side. she is obviously an incredibly smart and respected person. she is a little left of where i would be and certainly, i'm more pro-wall street where she would be. i met her when working on the consumer protection side and i think a lot of her ideas make sense. on this one, i would totally disa

. >> warren goes on to point out that the president's choice, antonio weiss helped burger king dodgerporate tax inversion. and here's what president obama had to say about such corporate tax inversions. >> my attitude is, i don't care if it is legal, it's wrong. i'm not interested in punishing them other than for pate re reotism. >> -- this battle matters. it matters because with congress not doing anything, the only folks with any real power are the ones writing and impleme implementing the rules, folks like treasure under secretary for finance, it also matters because while elizabeth warren are saying enough is enough, how many are willing to join her? democrats happy to ready to out warren when they thought her appeal could help their campaign and then elevated her with a senate leadership post as a policy liaison but will the party stand by her when she starts making the people of power uncomfortable will they back her principals with action or rather than political pats on the head and will democrats base allow slides, now that middle equality is top of mind. we're about to find

. >> this came after the antonio weiss situation. the acl, i read about this sent letter to banks including yours about the idea certain executives on their way out of leaving wall street on to washington have been able to keep or get bonuses they otherwise would have begin up had they gone to arrival, retired or what have you. >> right. >> goldman sachs had lots of people, has a long tradition of executives going to washington. do you have a problem with that? >> do i have a problem with people being made to surrender the accumulated wealth they accumulated throughout their business career to have the privilege of serving the country? is that the question? >> that is one way to put it. >> the reason why you let people take their compensation out -- again, what people have is the clamoring on bonuses. that should be forward stock, in order to take a public sector job you have to relieve yourself of that confidence. that stock has to be abandoned or vested and allowed to be sold. now, it's hard enough to contemplate going through the

so they're taking on his latest pick, antonio weiss is been nominated for a top treasury department overseeingtic finance. with this is lee sachs who worked with timothy geithner and previously served in the treasury department in the clinton. is there a point to be made about the revolving door between washington and wall street? >> we always have to pay attention to the so-called revolving door, but i think -- >> but why? because of the risk of regulatory -- >> there is always that risk, but one of the most important things when you are making policy, whether it is regulatory policy were others, you need to have a diverse set of views around the table. you need to have people who have finance backgrounds. you need to have academics. you need to have people who have served in government. >> the issue now, is it wall street-heavy? >> it is hard to see. if you see who is sitting around the table, you have talked about the committee of regulators that was formed through the , if younk's legislation look at who is around that table now -- and they're all excellent, but they all have either academ

. -- antonio weiss. at that criticism for a while, that we have a tendency to bring people into wall street and red -- wall street and regulate wall street. door has of revolving gotten criticism. another part of the criticism thebeen over his work with burger king tim hortons deal, considered a tax inversion, and tax inversions have come under a lot of criticism in congress this year. trying to fight these on the one hand, and giving people government jobs who worked on these deals on the other hand. you have to understand where the bodies are buried. an insider would be a person who can do that. how do you respond? guest: several people who held a job in the past have come up in support of the nominee and said exactly where -- exactly what you are saying. you need to know where the bodies are buried. host: the wall street scores a win in washington with the inclusion of easy regulations in dodd frank and a spending plan the president will be signing. ,y guess is emily stephenson and cj's on the phone f

the reality of the matter is antonio weiss is worth many millions of dollars. he was going to receive this whether he left or stayed. i do agree from the standpoint with he need more diversity in these jobs. perhaps they should force him and assistanting to meet with community banking groups -- >> keith, thanks for being with us this morning. >> legal analysts say the supreme court may take up the issue of same-sex marriage soon. adam may introduces us to a couple who's case could be the one the justice decide to take up. >> teaching your child to drive is a milestone memory for any family, but this father and son are not a legal family. at least according to the laws of kentucky. >> greg, actually kicked in the gut is the term he's used. >> michael and greg, fathers of two kids recently lost their lawsuit seeking marriage rights. they sued the state of kentucky and its governor. >> when we started this, we didn't they we would be a case going to the supreme court. we thought that would be played out long before us. sure enough, all the other circuits ruled in

reasons, i rise today to explain why i must oppose the nomination of wall street investment banker antonio weiss for under secretary of domestic finance at the department of treasury. i cannot and will not support his nomination because i do not believe he possesses the characteristics -- the characteristics and the background we need in an under secretary to push for strong wall street oversight and to protect our small businesses and financial institutions on main street all across america. the position to which mr. weiss has been nominated is one that would put him at the head of the treasury's decision making on issues of domestic finance, fiscal policy, government liabilities and other related domestic matters. he would oversee critical issues such as wall street reform, financing the national debt, housing finance reform, and small business credit. i have serious doubts that mr. weiss has the right experience to take on such a role. it is clear that as the global head of investment banking at lazard, mr. weiss is very talented and experienced in working in financial markets and economic in

. -- antonio weiss.t that criticism for a while, that we have a tendency to bring people into wall street and red -- wall street and regulate wall street. door has of revolving gotten criticism. another part of the criticism thebeen over his work with burger king tim hortons deal, considered a tax inversion, and tax inversions have come under a lot of criticism in congress this year. trying to fight these on the one hand, and giving people government jobs who worked on these deals on the other hand. you have to understand where the bodies are buried. an insider would be a person who can do that. how do you respond? guest: several people who held a job in the past have come up in support of the nominee and said exactly where -- exactly what you are saying. you need to know where the bodies are buried. host: the wall street scores a win in washington with the inclusion of easy regulations in dodd frank and a spending plan the president will be signing. ,y guess is emily stephenson and cj's on the phone fro

that is the kind of context for thinking of the nomination of antonio weiss. he spent the last 20 years at the investment bank lazard and has been named under-secretary for domestic finance at the treasury department. he is focused on international, corporate mergers, companies buying and selling each other. it may be interesting, challenging work, but it does not sufficiently qualify him to oversee consumer protection and domestic regulatory functions at the treasury department. in addition to his lack of basic qualification, mr. weiss was part of the burger king inversion deal that moved the u.s. company to canada as part of a merger that would cut down on its tax obligations. also note that mr. weiss' friends at lazard are giving him a golden parachute valued at about $20 million as he goes into government service. for me, this is just one spin of the revolving door too many. enough is enough. the response to these concerns has been, let's say, loud. first, his supporters say, come on. he is an investment banker, so of course he should be qualified to overs

i saw you quoted in a piece that ben white has written recently about antonio weiss and the democratic what's going on. you know where i stand on that whole issue. but more broadly, what do you see actually happening inside the party and how do you think that will end up impacting the discussion over the next two years? >> there's no question that there is a difference of view within the democratic party. not only the difference to the republican party between different parts of the party who see the same problems, want to solve those problems, but have different ways of going about it. so there is the progressive end of the party that has a strong view about wall street and about business and about how people like us should be involved in government or not involved in government. and so that's really what's going on here. >> who's winning? >> who's winning? i think at the moment it's too soon to tell. i think elizabeth warren is a very forceful, very passionate, and important and valuable voice for her point of view. i do think at the moment that the tradition -- what i'll call tradit

can you tell us why antonio weiss is the best nominee for this position at the department f trishry, undersecretary of finance. -- treasury, undersecretary of finance. he doesn't have any particular interest in the underlying issues if confirmed and that it's unwise and a bit rankly to see that his business would give him nearly $21 billion in compensation for taking a government position after eaving that particular firm. he's a high qualified nominee. he knows about the issues. being undersecretary of the treasury for domestic finance. he's been in the field of finance for 20 years. in that time he's overseen numerous major financial transactions across a variety of industries that have driven significant interest inside the united states. this is somebody who has a very good knowledge of the way that financial markets work and that is critically important when you're asking somebody to take on a position in the federal government that has such a significant bearing on those markets. i can tell you that other reason that we believe strongly that mr. weiss should be confirmed with b

weiss,uble for antonio running into democratic opposition. ators from the party including west virginia, new hampshire and minnesota turned against the nomination of weiss. role ofitical of his engineering tax lowering deals for u.s. companies. the house is set to pass a spending bill that will of her a shutdown of the federal government. lawmakers plan to approve a two day stopgap spending bill giving the senate until saturday to vote on the measure. it would rollback rules into protecting taxpayers from bank losses caused by derivative trades. on the spending bill and budget congress is in session and a scarlet mentioned sausage is being made. senate republicans are ordering new curtains in their minutes of spare time and all of washington should consider options for reducing the debt from 2015 to 2024. peter or zag is one of the true experts on the glide path of the debt and deficit. he is with citigroup, i look where we are and the consensus thing is yeah but. in 2017 a gets worse. does it? officials where the ejection success will happen