dwon. -- down. >> they provide investors the ability to buy or sell the product in the same day. you can call up your broker and sell your etf right then and there. >> with them being looked into by authorities from the international financial stability board, etf's have become so complicated it is hard to keep track of the risk. >> the vast majority of investors think they are buying an index fund. on the whole, they are not. >> it is the credit crunch that is haunting the city's regulators. your capital went toward a mortgage with a subprime borrower play -- paying interest. were so popular that banks indented synthetic cdo's where your money when into complex projections for derivatives. banks discovered they did not really need to buy real assets. instead, they could trim costs and massively boost profits by s.denting synthetic cdo' >> if you look back at the credit crunch, products that were supposed to be triple-a- rated were not. the bank writing them could fail. it might be lehman brothers. >> they also allow you to do things you cannot do with the plain vanilla a version

it's a long-term plan that needs to be dwon a consensus of congress. >> richard, good news or bad news for the obama administration today? >> you know, thomas, i have to say with all due respect to alice what we just heard and if we hear that from romney is nonsense. this is a guy who during the primary said he would be opposed and would veto the dream act. he said his answer to immigration was deportation, self-deportation, that loany notion, but deportation of all the illegal imt grants that were here. he basically -- the architect of the arizona law, most of which has been struck down now, was an adviser to him. even jan brewer saying this is a vindication. think about if romney were president, this law wouldn't have been challenged in the first place. this is a reminder to latino who has their back and who doesn't. it is crystal clear. if mitt romney thinks he can get by with gibberish further on this, i don't think after this decision today he can. >> richard, alice, perry, stick around. we'll take a quick break. still on the agenda, we talk about the other big decision before the