joining me is former governor of new york, eliot spitzer. also a former prosecutor. we talked about having a healthy democracy is checks and balances. in the course of our incomes there have only been a handful of well-known prosecutors be it dewy in the '40s and rudy giuliani in the '80s and patrick fitsgerald more recently. what does it take for a prosecutor to say i don't care whether they are powerful on the other side, whether the gambino crime family, i'm going after them. why don't we see it more? >> i think you need to stand up to powerful interests. as eric holder is doing, his wos boss said we don't want to open the issue but holder says the law requires we ask the difficult questions and i think eric holder is saying to himself our obligation to democracy, our obligation to glx is we democracy is we draw the right conclusions. whether you prosecute at the end of that remains to be determined by the record. eric holder is doing the right thing in my view saying we need to get the facts out there. >> what kind of pressure comes down on you, though? he is not

you can see eliot spitzer and toure here. you believe some version of a market for organs is a reasonable thing to entertain? >> the reason i believe we need some sort of market or some way to compensate donors is so we don't have a black market. this is the first news of it in this country, but we have a thriving global black market in organs and it's because there's such a shortage in this country and elsewhere. we've had a list, a national organ list for 25 years and, still, 80,000 people are on the list waiting for kidneys. by tomorrow at this time, 13 of them will be dead. thirteen people that could have been saved. >> how would the market help solve for them? >> the kind of arrangement that i would like to see is the ability for strangers who are willing to give a kidney and save someone's life to be able to get a tax credit or free health care or a contribution to their retirement account. these kind of things. and that this benefit would be given by the federal government or the state. so that rich people wouldn't be

what was unusual yesterday is that justice scalia says that in 2005, eliot spitzer brought this action and he has been succeeded by attorney general cuomo. but several people had their heads spending as to why he was mentioning the person who was not the attorney general and it seemed to invoke an attorney general in this way, to mean that the attorney general was going to lose. but that is not what happened. what the court held was that, with the justice joining the courts, for the traditional members. congress could not free of them from regulating the business of banking. if they bring the action in court to enforce the fair lending law, they cannot utilize the independent authority with the attorney general and the authority over the corporations to act on this, even with the court looking for a subpoena. new york judges, or actions by the state officials, against national banks, are fine. this is really summing up the court, if they look for the enforcement of the court, they must survive a lawsuit to risk -- to persist for risk sanctions so the judges are prevented from having fi

. >> eliot spitzer joins the conversation for the balance of the meeting. nice to see you. gavin pilone, tv and film producer, old friend of mine joins us from los angeles. ezra klein, "washington post" reporter, writes one of the most widely followed blogs on economic and domestic policy, specifically to health care. ezra, start us off. what is your sense in a nutshell of where the balance of the costs against beyond the tax aspect, if you look at doctors, how do private insurers fare, how do drug companies fare, winners, losers and interpretations of what you know so far. >> sure. i think what they're trying to do is not make anybody pay a lot of cost. ones who will suffer the most, if they'll suffer at all, are going to be the insurers, they're the least popular and somewhat the least essential. you can't do much without the doctors because you need drugs, you need hospitals but you don't necessarily need insurers in their current role. they are making the largest concessions, allowing community rating which means they can't not give me health insurance because i had all

underwear is placed on the head of the subject's framed and begin a certificate of authenticity, eliot spitzer'shere to be had. go figure. will it be hot next week. go to the weekend first. jessica starr back with a look at the seven day. >> headed for a good weekend. 86 for tomorrow. partly cloudy skies. more sunshine. lower humidity on sunday. and a beautiful day. the things stay unsettled for the middle of the work week. 82 monday. 81 wednesday. 83 on wednesday. 84 degrees with mostly cloudy skies thursday, and 87 with partly sunny skies friday. that's a look at the seven-day forecast. jeff, back to you. >> all right jessica. thank you. that does it for the "late edition". i am jeff barnd. thank you everybody. real time closed captioning provided by u.s. captioning need to succeed at an unbeatable walmart price. vo: back to school costs less at walmart. vo: save money. live better. walmart. steak, chicken, ribs, and burgers on the grill. people: oh! at giant, you'll find fresh, delicious, quality meats at prices that sizzle. like super g boneless chicken breast, just $1.79 a pound. this week

>> remember what eliot spitzer said on friday?good track record at being good at -- the federal reserve has done an atrocious job at managing the u.s. economy because it's created a bubble after bubble and no jobs and, yet, we create these systems that allow goldman sachs to do high frequently trading and suck money out of the system and, yet, the will politicians talk about the small business man and enforce capitalism to -- >> when will the regular people feel the difference? >> what is going on the consumer is flat on his or her back. deleveraging. businesses are not investing a whole lot and industrial capacity utilization at a low level. the only game in town is the government. >> the government is the taxpayer by the way, future of america. >> when you look at what obama is staking his first term on, we call it the sort of smart economy. the notion don't do all of these sort of broad-based things and invest in infrastructure, broadband, green energy and health care. these make our economy more competitive in the long term an

eliot spitzer was here yesterday and basically said, listen, single payer.surance companies are the problem and doctors and patients want to have this relationship with each other. why do we have to park the wealth inside the insurance companies when the insurance companies are doing something that we may be able to do much cheaper ourselves inside of the government? that's the real debate we're having. >> certainly single payer to cover, set up a basic health care system. you can have other coverage on top of that. it doesn't have to be tiers. >> a meaningful portion of the american reaction so that praise. he sits back and makes a face at me. what freaks you out when i say that? >> when you say -- when you say, you know what? people can choose. the reality is that if you have a an alternative plan, financed by the government, and it's perceived as being cheaper than everything else, and employers are allowed -- >> to dump all -- >> dump all of their people on the employment that is basically you're circumventing and having -- >> what is wrong with -- >> yo

and eliot spitzer, a man who is a professional inforr of the rules of capitalism, and raw jurt shilerumber of ideas ofhow to create systems r theeconomy that create markets and all of the thingse lo to celebrate, and then a moon who is in the busiss and very effective i might add at maging capital in this country on the expectn that there will be rules of capitalism, and wrotthe book on bubblesabout allen greensp management a the cost of money through the '90s. the title of your piece, which i love, green shoots, red ink, black hol. at does that mean? >> aut a month ago before t most recent jobs data ce up, everybody had a moment euphoria, and they sa wait a minutewe are going through a more fundantaltransformatio and it wa what you described as thedasolvency of the banks. we have sn the destruction of the wealth nerating part of the eco. weave seen months by months destruion -- >> whatis that? >> the manufturing basef the economy where weost 1/3 ofur jobs or e last coupleyears. the data, we he gone to11.8 million manufauring jobs from 18.4 million. it's gting worse and worse. and the

former governor eliot spitzer and anedy carr talks what obama has done right and toure stops by to tellst gift is on the cultural side and maybe not the political side. we will tell you about that straight ahead. don't go anywhere. msnbc live with carlos watson coming ahead. we may ask dylan to stop around one of these days. >> i'm hoping. >> he hooked. he is like tom watson here! rad a gan or watson. i don't know which one. take a quick break. not a long one. a quick break. havin' a cuppa tea. gecko vo: takes lots of sweat to become that big. gecko vo: 'course, geckos don't literally sweat... it's just not our thing... gecko vo: ...but i do work hard, mind you. gecko vo: first rule of "hard work equals success." gecko vo: that's why geico is consistently rated excellent or better in terms of financial strength. gecko vo: second rule: "don't steal a coworker's egg salad, 'specially if it's marked "the gecko." come on people. does two jobs... at once. one: kills weeds to the root. two: forms a barrier, preventing new ones for up to four months. roundup extended control. >>> welcome to a

. >> much when eliot spitzer and i run into each other and when any of the other white people arounddon't talk about that because we link racial and racism but they are two different things. >> exactly. take a listen to this and we'll come back on this conversation. take a listen. >> all right. dylan, the gloves are off. >> there you go. >> can we please? >> let's do it. >> all right. ♪ >> putting black people in the bad category! white people in the good category! >> not true. >> i'm learning so much about you right now. >> it's not true. it's not true. oh, exhausted. ♪ ♪ i'm going to knock you out i'm going to knock you out ♪ >> finished before you for the first time. >> i'm already on to the next level. >> oh! ♪ ♪ >> look at that! look at that! your data suggests a moderate automatic preference for african-american. >> leave me alone! >> the test proves i like black people! >> your data suggests a moderate automatic preference for -- >> see? i knew it! i knew it! >> you had a preference for black people. >> i know, but i'm black. >> i'm white! >> you ever date a black girl? >> no.

lyly t governors who ever quitit under pressusure eliot spitzer and jim m mceeeeve of new jersey.u u und this one, and thisis o then turns out not to bebe rig itit cocoarareso a general counl a corporation. the geneneral ununl is sitting the waiting for incomingngndnd deals with it.t. it's oututdede cnsel, if outside cocounl l we hire or some such thing, then there woululd be check writteten. in genereral, atat deal with their own lelegaprprobms in-house, just the way corporations do whwh t theturn t the own general counsel.. top of that, i spoke e thth hnhn ce, who started, foundede the legal defense fundndoror sah palin in alaska. and hehe saythth most of her private legal bibillththatrose as a result of the childldren' trtrelel, e per diem, troopergatate,erere id for out of those legalalefefen funds. sosohe really doesn't haveve o of pocket legagadedefees. i mean l legalxpxpses. >> t tha y youor the compliment on digging this out, butut it d take six dayays icich lls us mething else. other story. back t tththisthough. this attttptpt tspin the fact now that this lie has s be unc

eliot spitzer and jim mcgreey of new jersey. you fothis one, and this one then turns out n to be right. it comres to a general counsel of a corporation. e genel counsel is sitting there waiting r incoming and deals with it. it's outside counsel, if outside counsel were hire some such thing, then there would a check written. in gener, states deal with their own lel oblems in-house, just the way corporations do when they tu to the own general counsel. top of that, i spoke wi john cole, who started, unded, the legal defense fund forarah palin in alaa. anhe says that most of her private legal bills that arose as aesult of the children's travel, the r diem, trpeate, were paid for out those legal defense funds. so she really doesn't have out of pocket legal fenses. i meegal expenses. >> tnk you for the compliment diggi this out, but it did ta six days which tells us something else. another story. ba to this, though. this attempt tspin the fact now that this lie has be uncovered. we're now supposed to believe that the other pubservants

at do bill cclion, mark sanford, johnn ensign, eliot spitzer amonon hers havave in common? whwhat p p with these guys? is there something w wngngith popolicians? or a a they justreflectiti what is really happening inn modern amameran marriageges? >>> also,o,n tonight's "politics fix" democrats sk getting caught in the crorossfi over te congressionanal reluluon honoringng michael jacksonon >>> and finally wewe rember sarah palin's dust-you last month with dididletterman. la night he did the top1010 messagesnn srah palin's s messages. weavavthe ghghlits in the "hararalall sisideow." >>>aired ford an pat buchanan are bothth m msc polititalal analysts. haired ford, what do o youmama f this poll coming out of iio, shshining at drop in support? i think three things.. one is it's a reason foforr rl condioiofor the whihiteususe. ohio, as stated in the openinin is not only a bellwether state, but representative somamanyays politically androrom an econonic stance of what this country does. two, i think it raises concncers about healthth care. i think thehe white house h to think long

erin burnett is going to be hosting along with former new york governor eliot spitzer. have a great night. undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster...

i think i can hold unjohn edwards and eliot spitzer. think the american people are sick of it, whether the democratic side or the republican side, frankly. i don't think anybody's out there condoning the behavior. i think the way that governor sanford handled it today was right. i don't think people want to hear a lot about it. i think it's an issue between him and his wife and his family and his god and, you know, the people that voted for him and elected him want him to take care of the issues that matter to the people of south carolina. >> larry: when you go around promoting family values is it a question of hypocrisy, jim. >> it's always a question of -- sorry, that was for jim. >> sure it is. but i agree, i don't think you ought to resign. i think larry craig should resign, i didn't think ensign should resign. but when you go around you have -- and they always moralizing about family values and this stuff. what they ought to do is try the best they can to govern and shut up about this other stuff. let churches and schools deal with

and former new york governor eliot spitzer engaging in hooker hanky-panky. this psychiatrist says many of these men, and they are all men, possess an unhealthy dose of narsism. >> if you take that mix, a person vulnerable, and you mix them with a lot of power, all right, power that is isolating, which prevents them from feeling the shame and guilt which may have already kept them within bounds, then you get a recipe for what we are seeing right now. >> reporter: as long as there are people in positions of power, dr. norris says krumgs, sex and politics will go hand in hand. >> all right. thank you very much, brooke. >> i'll have a few thoughts about political corruption and other issues. join me on monday through friday from 2:00 to 4:00 p.m. please follow me on lou dobbs news on twitter.com. >>> still ahead, democrats delay the president's health care initiative. what it means for the obama presidency. the subject of our face-off debate tonight. >>> and california's governor arnold schwarzenegger joking about budget cuts knife in hand? his critics say it is

the real power to do certain things that would have had averted the financial crisis and lately eliot spitzer has been saying the fed does have a lot of power but it didn't have the political will to exercise its and now there have been all these reports about the fierce lobbying effort that the banks and the financial institutions are exerting on our politicians to try to make sure that we don't have more regulations why wondered if you have a perspective on this and or where is bernanke coming from on all of this because i haven't heard him be outspoken about. >> there's a lot to say on that question. first of all i think bernanke has always been very careful with respect to his speaking on issues that were not only really monetary because there's a huge tradition in the united states of independence of the federal reserve but congress can't vote that way tomorrow. with respect to the first part -- that is one of the reasons bernanke rather reluctantly speaks about things that are not really closely related to purely monetary issues. with respect to your first question and that is one of th

you read about -- we're so accustomed to bill clinton with monica lewinsky and john edwards and eliot spitzerknow, all these politicians, ensign, as you mentioned, and it's always just sleazy. they're just having sex with the easiest road kill they can find. oh, my gosh, the door just closed, my wife is in the other room, come over here and touch me. you know, it's just very sleazy, quick kind of sex, and this guy sanford, i tell you he could win women back if he just went to this mistress because obviously that's who he loves. that's the third act of the movie. the first act is he falls in love. the second act is he tries to reconcile with his wife, and the third act is the wife finally says, go to her. it's she you truly love. >> so, bill, bill maher, you're not married yet. do you love anybody? >> well, i love your show, chris. >> i just love that back and forth between you and larry king. i just loved it. you'd go after him on your show the other night about how many wives he's had, what, nine or something, and then he comes back to you and says now let's talk about you. you know what the

we talked to the former ceo, the former governor, and eliot spitzer to get their take on the crisis, the bailouts, the roll of the regulators. it comes as an interesting time. spitzer made news by criticizing the fed, going as far as as calling them a ponzi scheme. he told us it's really the lack of transparency that's a major cause for concern right now. take a listen to what he told us. >> the fed unilaterally has issued trillions of dollars of capital and guarantees. most of it guarantees to the banks across wall street after they failed. probably that needed to be done. we don't know why, how, what the terms were, what the logic was. >> glad we have the luxury of sitting here and debating what they could have done and should have done. if we bring ourselves back to december, it was terrifying. >> that was the former cfo of citigroup who not long ago sat in one of the highest offices on wall street. saying last fall post the collapse of lehman brothers, et cetera, the fear was deafening. she said the steps taken by regulators at the time were unprecedented but necessary. that's why

and i think that my guest cohost yesterday, eliot spitzer, put it well in his recent article, sayinge should ask in the coming weeks and months about the federal reserve. number one, who gets to sit on those regional board of governors? are they looking out for the health of the economy or helping spur things like the wall street meltdown? and number two, what are the benchmarks? with when do we know we have a healthy economy? just when the dow soars, or when unemployment is over 13%? and what terms should the government place on the billions of dollars they have lent to struggling bank? and who should lead it? should ben bernanke get reappointed or replaced next year? and even if the federal reserve is not the sexiest issue in the world, we have to talk about it p . >>> now turning over to "dr. nancy". >> you mentioned obama. obviously, president obama is coming up in a few minutes. he's going to continue to take his message on health care to the public with remarks from the white house. we'll have that live. >>> and also, two other things you should know about. home glucose monitor

plus former new york governor eliot spitzer joins the "fast money" gang to talk wall street, politics, and he why, the stock market as well. guest host erin burnett joins the "fast money" traders. that is tonight at 5:00. >> ten minutes before the close. the market's up 100 points on the dow industrials. talking about the best july since 1939. >> pretty impressive. both autos and building products have all seen a big drop-off in business. so why are stocks in those industries much higher recently? mr. nesto is going to break it all down when we come right back. in these markets, i'm glad i turned to fidelity for an annuity with guaranteed income for life. that's right, guaranteed income for life. my annuity from fidelity means my retirement income is safe. it's guaranteed, no matter what happens. if guaranteed income for life sounds good to you, do what i did -- let fidelity be your guide. call fidelity at... for details about guaranteed income for life. >>> welcome back. time for the day's research calls. the latest upgrades and downgrades. morgan stanley cuts its rating on mcdonald'

sad, erin burnett is going to be hosting, along with a special guest, former new york governor eliot spitzer. have a great night. >>> tomorrow, oil's well. a global dynamic duo. aluminum. two ceos with their fingers on the pulse on the world economy.e ? yep, even the rental. what if i'm stuck at the office? if you can't come to us, we'll come to you in one of our immediate response vehicles! what if mother won't let me drive? then you probably wouldn't have had an accident in the first place. and we're walkin'! and we're walkin'... making it all a bit easier -- now that's progressive! call or click today.

what did former government, eliot spitzer and jonathan want to see this weekend?t spitzer for the next two hours. 9:00 a.m., and it's time to get to work. >>> welcome come. a great and exciting day for us here. again, warren buffett joins us, which is interesting purely because this is a man that made $60 billion picking winners in the economy. that's what we need. and jesse jackson talking race relations, and congresswoman, loretta sanchez, and she is said to be under

and former new york governor eliot spitzer engaging in hooker hankie pankie. this psychiatrist says some men in power possess an unhealthy dose of nars sichl and that can be a catalyst for acting out above the law. >> if you take that person who is vulnerable and mix them with a lot of power, which is isolating, which prevents them from feeling the shame and guilt which may have already kept them within bounds, they can get a recipe for what you're seeing right now. >> you know we're talking to dr. norris, went to the interview a couple days ago and he said as long as there are people in positions of power the scandals will go on. >> some people just get drunk with that power and think they can get away with anything sometimes. >> they do. >> reynolds, go ahead. take that segue. >> it's always great when you have a segue going from one story to another with the delicacy of a hatchet. beautiful. >>> you know, guys, we have rough stuff weatherwise and certainly rough times in parts of the ohio valley. this frontal boundary that is marching its way from west to e

erin burnett interviews eliot spitzer on the outlook of the economy and wall street. instant analysis and reaction to the treasury's seven-year note auction. we're minutes away. >> that are new name will stick. we will talk about the markets of course and the huge triple-digit rally and shares of pride international up almost 60% year to date. the company's ceo joins us to talk about the earnings and a male boomer is an endangered species from the workforce. we will talk about that and the latest on this market and health care. senators unveil a bill warning states to outlaw texting while driving. >> investors put almost $12 billion more into mutual funs than they took out and that followed the $18 billion info in may. the details picked up since the cash for clunkers was launched. manny ramirez and david ortiz tested positive for performance enhancing drugs in 2003. that's the news now. i'm julia boorsten. >> oh, boy we hope the really lasts. for the results of the auction here. welcome to the second hour and the summer rally resumed today. the dow, nasdaq and s&p hi

smith and eliot spitzer coming through and all sorts of people coming through.e want a transparency. guess what? we're getting a transparency. that is the good news. the bad news is we opened a can of worms and we found a bunch of worms! we'll talk about some of the smelliest ones in the can after this. that and 23 trillion dollars on the "morning meeting" coming up. nothing beats walmart's unbeatable prices... but now they have new areas where i can find the brands i use every day-- and save even more. so that's what they mean by unbeatable. save money. live better. walmart. i switched to a complete multivitamin with more. only one a day men's 50+ advantage... has gingko for memory and concentration. plus support for heart health. that's a great call. one a day men's. >>> good morning. welcome back. nice to see you. second hour of the,getting under way. i'm dylan ratigan. nice to see you. new estimates on our national debt. it was 14 trillion and moving it to 24 trillion. 10 trillion here and 10 trillion there and next thing you know, you're talking real money,

what was unusual yesterday is that justice scalia says that in 2005, eliot spitzer brought this action and he has been succeeded by attorney general cuomo. but several people had their heads spending as to why he was mentioning the person who was not the attorney general and it seemed to invoke an attorney general in this way, to mean that the attorney general was going to lose. but that is not what happened. what the court held was that, with the justice joining the courts, for the traditional members. congress could not free of them from regulating the business of banking. if they bring the action in court to enforce the fair lending law, they cannot utilize the independent authority with the attorney general and the authority over the corporations to act on this, even with the court looking for a subpoena. new york judges, or actions by the state officials, against national banks, are fine. this is really summing up the court, if they look for the enforcement of the court, they must survive a lawsuit to risk -- to persist for risk sanctions so the judges are prevented from having fi

former chief financial officer at citigroup, also former new york governor and attorney general eliot spitzerget their take on this crisis, the bailouts, the role of the regulators. and spitzer has really made news recently, tony, by criticizes the fed. he went so far as on national television to call the fed a giant ponzi people. he said it's a huge cause for concern. take a listen to what he told us. >> the fed unilaterally has issued trillions of dollars of capital and guarantees, most of it guarantees, to the banks across wall street after they failed. probably that needed to be done, but we don't know why, how, what the terms were, what the logic was. >> i'm glad that we had the luxury of sitting here to debate what they should have done and could have done, right? i think if we bring ourselves back to last september, make no mistake, it was terrifying. [ inaudible ] >> i think we -- all right. i think we just lost poppy. we'll -- oh, shoot. we'll try to get poppy back in just a couple of moments. >>> changing our relationship with the middle east, how the obama administration's attitude

i have been watching msnbc and they had people like eliot spitzer and the wife of eack welch -- the newife jack welch -- and i just cannot imagine that she second got anything except that she is married to him and he has lots of money and talks a lot. host: this is fred on the republican line. talking about campaign contributions and public policy. caller: good morning, it helps to separate media and politics. because right now media is running everything because money is the issue. if a politician does not have money, so nobody will hear him. so, who deals with the media? in order to help you have to set the standard not to use money for media. the media should just give free time to politicians and that would stop all the problems. people give money and they expect back and then politicians will go a different way from the beginning. host: i do not understand. caller: media is making billions. it has to give free time to the politicians. yes, just give the money. religion and politics have to be separate. you cannot get these things together. politicians have to be on the top. host: t

what was unusual yesterday is that justice scalia begins by saying that in 2005, eliot spitzer, then the attorney general, brought this action seeking these matters. and he's now been succeeded by attorney general cuomo. but the -- it was, i think, several people's heads spun as to why he was mentioning the name of the person who wasn't even the attorney general in the suit now. it seemed to me to invoke an attorney general in that way meant that the attorney general was going to lose. but that's not quite what actually happened. this time in the case, because what the court held was that with justice scalia joining the courts for traditionally considered liberal members, what the court held was that in fact states did have power to regulate the business of banking in areas where congress had not chosen to preempt them from regulating the business of banking and could do so by going into court and using their law enforcement mechanisms, if they go before judges, if they bring an action in court to enforce the fair lending laws in the state, state officials can do that. but they can't