let me say barney frank and chris dodd past financial reform legislation, but now there will be effortso stop the full implementation. we need that law implemented. in terms of justice, there needs to be justice here. i think prosecutors need to look at what happened between 2003 and 2008. they owe it to the american people to make sure if laws were broken that people are brought to account. tavis: the book is called "the financial crisis inquiry report." went back 30 years to figure out how what happened in 2008 did happen. they concluded it was avoidable. a lot of recommendations for how to avoid this ever happening again. the chairman of the committee, former gubernatorial candidate, phil angelides. thanks for your work and thanks for coming on tonight. >> great to be with you. >> that is our show for tonight. good night. thanks for watching. as always, keep the faith. >> for more information on today's show, visit tavis smiley at pbs.org. tavis: join me next time for a conversation with jazz great, wynton marsalis and his work on music education at lincoln center. >> all i know is h

chris dodd's father, thomas dodd, right? francis walter, representative i-court, jack kennedy was an anticommunist on some of these committees. so i hear this and i'm thinking, okay, what does he really believe? what does davis really believe? and how close was he to obama? august 2nd, 2008, a.p. piece, davis was a constant figure in obama's early life. he was an important influence to obama looked to like a father, a mentor for advice on living, other things. obama in "dreams for my father." i was intrigued by old frank with his books and whisky breath and the hen of hard knowledge behind eye. frank gave me advice of college, on women and all things of life. i started looking in the documents and among the things that i found -- there's a frank marshall davis was called to testify before the senate in 1956 for communist associations. he pleaded the fifth amendment. these are -- these are in the book. i give the actual copies of the actual pages. i think it's around page 256, 257 in the book. next year, a senate report actua

chris dodd and barney frank caused this debacle. bush tried to fix this. the congress said no. i am sick and tired of bailing out all these people who made these bad decisions. i think they should go to prison for making these bad decisions. they should be prosecuted. the shakira fannie mae and freddie mac. it has been a burden on the people and the public that are trying to do the right thing. host: we have heard that a lot. guest: the president agrees with you, that we should carry of fannie and freddie. the justice department is working to put people in jail who committed fraud and abuse. they are trying to clean up the system of how these things get securitized and how things get invented, particularly on wall street. that means create a council that is able to look at the rating agencies and creating more transparency. i don't think it is fair to blame barney frank or chris dodd because both of those judgment proposed legislation several times and it passed in the house, to end the abuse of the kind of loans that were being made solely for the purpose of collecting the fee

this wasn't hurried because of chris dodd but the whole range of people beginning with ben bernanke, the bush appointees who initiated efforts saying this needs to be done quickly because we were told by the financial community that uncertainty was the problem and on this for another year, and not including fighting may and freddie mac we were not ready at that point, responses were formulated and i accept graciously you should take yes for an answer. i learned how to do that because last year republicans offered what they said was the solution to the fannie mae and freddie mac problem. we did not accept it and they said this is a big mistake. now that the republicans are in power that solution appears to have become a dissolution. it is not here anymore. we had a hearing on fannie mae and freddie mac and that was not the subject of the hearing so we have retroactively the public acknowledging that while we put them in the receivership we stopped at the bleeding and were not at a consensus how to replace them and i was struck that the republicans criticized president obama's administ

chris dodd and barney frank caused this debacle. bush tried to fix this. the congress said no. i am sick and tired of bailing out all these people who made these bad decisions. i think they should go to prison for making these bad decisions. they should be prosecuted. the shakira fannie mae and freddie mac. it has been a burden on the people and the public that are trying to do the right thing. host: we have heard that a lot. guest: the president agrees with you, that we should carry of fannie and freddie. the justice department is working to put people in jail who committed fraud and abuse. they are trying to clean up the system of how these things get securitized and how things get invented, particularly on wall street. that means create a council that is able to look at the rating agencies and creating more transparency. i don't think it is fair to blame barney frank or chris dodd because both of those judgment proposed legislation several times and it passed in the house, to end the abuse of the kind of loans that were being made solely for the purpose of collecting the fee

when chris dodd and barney frank said everything is fine, the stock markets are fine, and then they all crashed, and turn around and blame the people who work at the stock markets when they are just individual people doing their job. the government is the problem. every time the government gets involved, things go bad. 15 million people for obamacare, not 30 or 40 million like a promise. we still have to ensure 25 million people. i am just wondering how much of that is going to cost us. host: this weekend, "in debt," 3 hours with an offer. "american spectator," the feature writer this week. you can call and ask about his views of politics, the economy, and others that he has been writing about for so many years. next is a phone call from atlanta. jonathan, republican. caller: good morning. i wanted to get on with your economist -- wanted to taken to task for a few things. well, first of all, i did point to say, i heard a bloomberg economist a few weeks back talking about 100,000 jobs among being created was right around 1% growth. according to his calculations, 36,000 jobs in this month

i will dissent from one thing, no, this wasn't hurried because of chris dodd, this was hurried because a whole range of people who initiated our efforts here said you really need to get this done quickly, because we were told by the financial community correctly that uncertainty wapsz a problem. to prolong this for another year or so would have added to that uncertainty. those are the reasons we did more. finally, my view is we weren't ready at that point to do that, the responses had been formulated. i now accept graciously -- people say you should learn how to take yes for an answer. i've learned how to do that. we did t accept the solution and they said, this is a big mistake. now that the republicans are in power, that solution appears to have become a dissolution, it's dissolved, it's not here any more. we had a hearing on fannie mae and freddie mac, and that's not the subject of the hearing. while we had put them in the receivership, we stopped the bleeding, we weren't yet at a consensus as to how to replace them. i was struck that the republicans oddly to me, criticized presiden