bert ely is a banking industry consultant who runs his own firm in northern virginia. and felix salmon is the finance blogger for thomson reuters. previously he worked for roubini global economics. gentlemen, thank you both for being with us. bert ely, to you first. what is your understanding of what form any tax or fee would take? >> well, this is all very big at this point in time, but it could be either a tax on financial transactions. it could be a tax on high level executive pay. it may be a profit surtax or some combination thereof. at this point in time we simply don't know the specifics of these proposals. >> woodruff: in terms of whom it would be levied on. >> i would presume it will be levied on large financial institutions, banks, both commercial banks as well as investment banks. a big question is where would the line be drawn between large and small and that would be one of the controversial aspects of this proposal. who gets paid... who has to pay and who doesn't. >> woodruff: felix salmon, what's your understanding of what they're talking about? >> well,

bert ely, felix salmon, than you both. >>hank you. >> thank you. >> brown: now for the other news of the day. brown: now, for the other news of the day, hers hari sreenivasan in our newsroo >> sreenivan: it hit 14 milefrom the capital city of port-au-prince. e u.s. geo logical survey said it d a magnitude of 0. reportthat a hospital collapsed and thateople were screamg for help. the ake also triggered a tsunami watcacross parts of the ribbean. moments ago i spoke wi dale granof the usgs in golden, colora. >> approxitely an hour ago 4: local time which is the me as eastern standard time, we had a mnitude 7.0 quake inhe haiti area. approximately miles west of po-au-prince haiti. now at is a very large population cenr of at least 917,000 pele. is is one of the... well, it is the largest qua that we have seein this area. it has theotential of prty catastroph damage. we've already had repos from cnn that a hospital in port-aprince has collapsed entirely. this is anrea that doesn't receive quakes of is magnude all that often. an