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editorial you know i was watching c n b say the other day and becky and andrew and joe were talking to chris whalen banking analyst guest on the show about j.p. morgan and jamie di minute whether or not jamie diamond's transgressions were really .

andrew and joe were talking to chris whalen banking analyst guest on the show about j.p. morgan and jamie diamond and whether or not jamie diamond is transgressions were really all that bad considering it was just two billion or ten billion or fifteen billion of them got such a huge balance sheet and why are we making such a big fuss over this never did these so-called journalist oversee end.

editorial you know i was watching c n b c the other day and becky and andrew and joe were talking to chris whalen banking analyst guest on the show about j.p. morgan and jamie diamond it whether or not jamie diamond's transgressions were really all that bad considering it was just two billion or ten billion or fifteen billion and they got such a huge balance sheet and why are we making such a big fuss over this never did these so-called journalist oversee n.b.c. mention the fact that they are in fact embedded that's right they're there to defend the interest of the bankers not to challenge the interest of the bankers now on this show kaiser report not only are we here to challenge the interest of the bankers but we add another spin and it goes like this jamie diamond is an inveterate loser he's a compulsive gambler holic it's not a question of how much penalty should suffer for the crimes just committed but how do we trade the crimes he's going to commit in the next couple of months we know he's going to commit crimes there's no laws against committing crimes he's got a huge balance sheet to thro

with its global reserve currency status and that's a good point it's one reason why i guess like chris whalen tell me they think sound money could not be possible in a democracy like those in the us or europe because politicians will always be pressure to produce economic growth and with that they're going to want to have the flexibility. of a debt based money system and resist hard money at every turn but there are those who disagree and have practical plans they lay out for how a gold standard could work so stay tuned because to because i'm sure we'll keep talking about it now serban mike ended with a rallying cry he said we all know some of our government and some of our institutions are up to no good for the people we can talk about the wrong so twenty three hundred eighty and beyond that my question is what are we going to do about it talk is cheap you may have this job so you retire talking about me the wrongs will not be less but they will multiply if we the people don't do nothing anyway. well i think it's incredibly important to educate and expose the wrongs that we're talking about

our thanks to chris whalen this morning, apprec it very much. a few moments. >>> the bad news gets worse for research in motion, it reportedly a quarterly loss of 37 cents per share much wider than the three cent loss analysts were expecting and delaying theologist of its new operating system early next year. >>> two deadline beating votes expected on capitol hill, congress is likely to approve a transportation bill as well as a continuation of subsidized student loan rates. >>> kodi has filed for an initial public offering of up to $700 million, they haven't made a decision whether to list on the nyse or the nasdaq. the filing comes a month or so after it withdrew a $10.7 billion bid to buy rival avo nochavon. >>> former dnc chair terry mcauliffe now ceo of green tech auto joins us next to talk about the high court's ruling. "squawk" will be right back. in every way, shape, and form. it's my dream vehicle. on a day to day basis, i am not using gas. my round trip is approximately 40 miles to work. head on home, stop at the grocery store, whateve