. >> did we win when arthur anderson disappeared? not a frivolous argument.ey are wrong. >> what you're describing though of letting banks go under, this is what people like me are saying this is against the bailouts. if an auto maker or a bank disappeared because that's what the market was tick indicating that we would be fine. and it was politicians saying we can't standby and do this. so how much of the problem is that these people are protected not just in your view from criminal prosecution, but also in my view from the market forces. so they are more protected from anything. >> you're exactly right. i share your libertarian perspective on this, but they are protected because of the federal guarantee behind them means they get the upside and not the downside. and therefore, they feel that in a risk-free environment, they can do what they want. we will backstop them. there are ways to restructure the banks that would have eliminated the structural problem. still do it today. the banks still depend upon the federal guarantees to get their capital to borrow

the president will head to pacific heights to the house of arthur robert maland anderson.bout 70 people expected to attend that dinner. the price tag for those events, $38,500. some people we talked to really don't like the best money they say it's the worse part ofpolitics. >> it's ridiculous, but it's reality. so what can you do. >> i wouldn't mind spending a few minutes with him but i would much rather spend it on the golf course than on the rubber chicken circuit. >> the largest event as we said and the most affordable will be at the masonic set to start at 8:00. people paid any write from $500 to $800 to come here. singer song writer chris cornell also going to perform tonight. so the president flies in at 12:50 this afternoon. he will fly out at 9:00 tomorrow morning headed to washington state. today's visit alone expected by some estimates to raise $3 million for his campaign. live in san francisco, claudine wong, ktvu channel 2 news. >>> time now 8:46 now. tomorrow the vice president of china flies to los angeles. xi jinping is in a week visit. it included a visit