headlines for march twenty first two thousand and twelve the federal reserve bank of dallas says dog frank did not end too big to fail and says we must downsize the goal he missed and the president's view the president's view this as some u.s. lawmakers are working to push back the timeline for a key part of dogbreath of both will rule the regulators and banks already appear to be hollowing out will look at what cost that comes meanwhile the poor design rule is reportedly gaining momentum this would restrict getting late what brokerage firms can do with customer money now before looking forward what about the unanswered questions and the accountability questions in the end of global bankruptcy and what we consider best of customer money we'll talk to william black he's a former regulator who oversaw prosecution of bankers for fraud during the s. and l. crisis to find out what it would take to see justice in this case meanwhile do you think we have enough lawyers in the us already we don't need anymore well you may be happy to hear this organization behind the law school admissions test in

faith in american capitalism fisher also called for tough new financial reforms to strengthen the dog frank wall street reform law so what are the economic consequences of this concentration of wealth on wall street and how do we take the dallas fed presidents fischer's advice and break up the big banks here to offer his take on this as well as target target of a former investment banker goldman sachs and currently a senior fellow at demos walls welcome did i mangle your last name who did great thanks for having me it's great to be thanks for joining us how exactly is the too big to fail became even bigger well the concentration. one of things that happened was there in the financial crisis the concentration got even more severe as certain banks just evaporated the other thing that's gone on is to sort of recognize that this isn't just something that's happened recently this is been something that's been going on for a period of thirty to forty years and so there's a certain inertia to it that has it's actually not as surprising as one might think if you really just sort of focused on what'

are going to like what you read in this annual report you probably also wellnigh it if you're a dog frank supporter the letter read dodd frank does not eradicate d.v.d.'s you take to fail indeed it is our view as adults that it may actually perfect perpetuate an already dangerous trend of increasing banking industry concentration and the never has certainly show a massive increase in the power of the big banks five eight banks and nine hundred seventy five banks controlled seventeen percent of industry assets before only forty years and the top five banks control fifty two percent now the report goes on to characterize the too big to fail banks as the culprit and that define the financial crisis the reason for the lackluster recovery andy who grab a perversion of capitalism affecting blame deflecting see the blame for the economy from the fed directly to the base themselves out of dallas bad things that there is a crisis of faith in capital i think that capitalism requires the freedom to succeed and the freedom to fail capitalism requires government to enforce the rule of law and capitali

accounting fraud and market manipulation lured by the possibility of multimillion dollar payouts under a dog frank program that's according to a financial times story at least we'll have to see where that all goes but we'll talk to someone who's been blowing the lid off of banking and hedge fund corruption for years terry buel is here to bring us into that world firsthand and tell us about her latest story of sex and scandal if you're already been sued over and konya two thousand and twelve the fastest growing birol video in history of internet campaign about the lord's resistance army leader fronted by a handsome activist filmmaker has also drawn its fair share of criticism ok here's jon stewart talking about the flak it's received from the mainstream media. lately . just seems annoyed that it took this guy to get people to listen to a lot of major news organizations have talked about joseph koni and talked about the right way. well for those of you would stop paying attention to the mainstream media look at one of the new journalists are turning to to circumvent it it's called crowdfunding we'll

question is that so much i'm going to give each musician because i am the marquesas in the case of frank the dog this is how some would characterize the current drumbeat for war against iran and the center of this campaign is the american wealthy british style it's just not a.

dog. . with the passage of dodd frank, our responsibilities have expanded practice datically. of the more than 90 rule-making provisions, the sec has proposed or adapted rules to three-quarters of them. . and we have completed 12 studies. we can talk for hours about dodd frank, but let me touch on a few high lits. today we had sharing of rules of the new rules. that have offered new rules in wh what. and we've stebd a aaron. until if, prodding their companies to launch their own internal come plings. the fec is proposing rules that will protect investors in increasing dramatically unvess tore's and what will too original denominators underwriting practices. and thing the practices of the wi wigt, and the agencies of $1 billion were cass lean and kindling. next stop will be plans to open, essentially from the ground up, the atc market has long. in. i at that time, i said, nothing will interrupt the progress of the derivatives market more abruptly than a deseed of ba rate and currency watch innovation might present significant risk for various reasons, including the derivatives

dog. apologies to matt damon. we ran out of time. tomorrow night, jessica alba, barney frank, and nathan myhrvold.ee the full performance at jimmykimmellive.com, once again, jake owen. good night. [ cheers and applause ] >> hi, y'all. ♪ full moon shinin' bright edge of the water ♪ ♪ we were feelin' all right back down a country road ♪ ♪ the girls are always hot and the beer is ice cold ♪ ♪ cadillac horns on the hood my buddy, frankie, had ♪ ♪ his dad hook us up good girls smiled when we rode by ♪ ♪ they'd hop in the back and we'd cruise to the riverside ♪ ♪ whoa, never gonna grow up whoa, never gonna slow down ♪ ♪ whoa, we were shinin' like lighters in the dark ♪ ♪ in the middle of a rock show whoa, we were doin' it right ♪ ♪ whoa, we were comin' alive whoa, we were caught up ♪ ♪ in a southern summer barefoot blue jean night ♪

dog-franc bill. it has 400 rulemaking requirements and it. -- to track the cumulative l.fect of the ododd-frank bil it was alarming to find that basically it was published it would take 22 million man hours per year to comply with the first 140 regulations, so that means we're two-thirds of the way. of we're headed to a lot compliance hours. only took 20 million man hours to build the panama canal. i think everyone would agree 20 million man hours spent building the panama canal would create work economic opportunities and 22 complying with regulations. are you concerned that this level of regulations and this kind of burdens that were putting on, is that healthy? >> i think it is important to point out what we're trying to prevent. we have terrific financial crisis that has cost this country enormous amount of money and hardship. yes, deregulations are costly, but speaking for the fed, we of taken a lot of steps to minimize the cost, including grouping roles together in packages so we can look at interactions among them, doing a lot of cost- benefit analysis, long transition times and so on. we need

frank tine, 07 is james bond, so i picture frankenstein with a martini. >> i would stick that on you can of -- inside of your wave there. >> lets get back to dog frame. >> just a few minutes after turning the face cards into people, behold. >> jacks of diamonds,. >> yep,. >> queen of diamonds. >> uh-huh. >> and king of clubs. >> king of clubs, there you go. >> look at that! cool. >> but weird. abc news new york. >> we'll be right back. the "hunger games" battle it out and game out on top. it's the thirds best day by ever, behind hard which to the per, 155 -- harry potter. the survival of the fittest where kids have to fight to the death to win food for there are community. and they are planning on releases a sequel in 2013. check this out. displace the mocking jay pin, you got that, lauren, right? bottom of the cake has flames, and that's when there are flames shooting from some of her costumes. >> i guess he didn't see the movie. yeah. yeah. >> next weekend. >> none of that made sense, i have no idea what you were talking about. >> cooler conditions, we have the fries watch tomorrow, we are not going to do with ourselves, because with the windchill, it

but you know, as frank mentioned, being woken up on a monday morning, by this kind of jolting, and probably dogsarking and cats reacting, and what not, it has been a little bit freaky for some people. >> yes, so it happened at 5:33. a 4.0 magnitude earthquake. near richmond. and then there was an aftershock that happened just after 6:00. and that was 2.0. >> that's right. all of this reported by the usgs. maybe this is affecting traffic. we're hearing there are bart delays. let's check in with elizabeth now. >> thanks, guys. it is really just affecting bart right now. we've been checking in with them. right now, they're still about 5-10 minute residual delays for bart trains, including those heading to downtown san francisco. what happens with even small earthquakes, they have to stop the bart trains temporarily, to inspect the trains an inspect the tracks. and they did complete that inspection, and it turns out everything is fine. everything is okay. we got a couple of twitter responses, leeland on twitter says his bart train was stopped for about five minutes. and then they had to run the trai

frank mallicoat. >> i'm grace lee. it is 4:30. and new this mornings we have another fatal pit bull shooting involving pacifica police. now, police are responding to a call of a loose dog in a home in the linda mar area. the pit bull was attack the woman's smaller corgi. then police say that the pit bull went at an officer while he shot the pit bull once killing it. the corgi is recovering. last august pacifica police shot and killed another pit bull that had killed its pregnant owner, then got out of its yard heading toward police and paramedics treating the victim. the dog was then shot. >>> oakland police are investigating their 24th homicide of the year. a man was shot and killed last night on tenth avenue. one person being questioned right now. but no one has been arrested. no word on a possible motive. >>> there is a police manhunt in solano county for the gunman who killed a bay area teenager. the teen was one of two men killed in fairfield yesterday. one victim 18 years old is from east palo alto. the other is 24. and is from fairfield. police say both were shot near the parkway garden condominium complex. witnesses saw the suspect running away from the area ca

dogs here tonight. you weren't that excited when i came out. [ laughter ] and not only is brigitte here to support uggie here tonight. brigitte is also here to meet congressman barney frank. they have the same frown. [ laughter ] congressman barney frank is with us tonight. he's a very smart guy. and he's getting married soon, to another guy. usually congressmen only do that sort of thing in secret. but he's doing it right out in the open. and if all that isn't enough for you, sitting in with the cletones tonight, the tower of power horns are here. [ cheers and applause ] wait one second. 40 years together. and i understand you guys are doing all justin bieber covers tonight? is that right? >> we'll do our best. >> jimmy: very good. they're going to be playing with us with cleto and the cletones all night long. speaking of great musicians who stand the test of time, there was a new episode of "american idol" tonight. tonight's episode was titled final judgment part one. if something is final, it shouldn't come in parts, right? [ laughter ] it should be -- i think we have the promo for that. maybe if we watch this we can figure it out. >> tonight on "american idol" -- the