tell me about jeffrey immelt. >> he is the poster boy for crony capitalism. here is ge, one of the six aaa companies left in the united sates, a massive, half-trillion dollar company, massive market capitalization. i'm talking about the eve of the crisis now, in september 2008. suddenly, when the commercial paper market starts to destabilize and short-term rates went up. he calls up the treasury secretary with an s.o.s., "i'm in trouble here. i need a lifeline." he had recklessly funded a lot of assets at general electric capital in the overnight commercial paper market. and suddenly needed a bailout from the treasury. within days, that bailout was granted. and therefore, general electric was able to avoid the consequence of its foolish lend long and borrow short policy. what they should have been required to do when the commercial paper market dried up -- that was the excuse. they should've been required to offer equity, sell stock at a highly discounted rate, dilute their shareholders, and raise the cash they need to pay off their commercial paper. that wou

buff look at it this way, jeffrey immelt chairs obama's jobs council.ther guy on the council is antonio perez, chairman of'sman kodak. between the two of them they shipped 55,000 jobs overseas while being ceos of those two companies. are these two guys, these two jokers, do you want them on your jobs council? >> brian: bob, i must think you find this frustrating. if that is the fact that you see the president sitting next to immelt and the guy from kodak, if the president not to acknowledge, republicans are not supporting immelt for the job czars and doing what he is doing, maybe have him explain what he is doing. doing what steve jobs said, that we have not changed the engineer to do it. >> bob: you are picking out two people. i would bet 90% of the fortune 500 companies ship jobs oversea. not just those on the council. >> kimberly: including the chevy volt. >> bob: let's dig deeper -- >> eric: because the tax rates are higher here, right? >> bob: they don't pay any more here than they do anyplace else. >> kimberly: dana has something. >> dana: i just

. -- erskine bowles and jeffrey immelt. he has people around that like him and they have a lot of influence on the oval office. the finance his campaigns. the outcome of that, the product of all this, it is an administration that has policies that are very favorable to wall street. but not to main street. president obama opposes a 1% tax on the wall street derivatives. especially the instruments that got us into trouble in the first place. president obama has not tried to stop that. we need a progressive who is going to get in there and fill the void. did the things the president has failed to do. that is the breach i want to fill. i hope to answer your questions tonight. >> thank you. that concludes at the opening statements. we will now go to our panelists. 45 seconds. the first question -- the clock is right over here. thank you. the first question is to mr. wolfe. >> thank you for your opening statement. he wrote all logic that new hampshire the first in the nation so i wouldn't have recommend you keep to his limit. fol

. -- erskine bowles and jeffrey immelt. he has people around that like him and they have a lot of influence on the oval office. the finance his campaigns. the outcome of that, the product of all this, it is an administration that has policies that are very favorable to wall street. but not to main street. president obama opposes a 1% tax on the wall street derivatives. especially the instruments that got us into trouble in the first place. president obama has not tried to stop that. we need a progressive who is going to get in there and fill the void. did the things the president has failed to do. that is the breach i want to fill. i hope to answer your questions tonight. >> thank you. that concludes at the opening statements. we will now go to our panelists. 45 seconds. the first question -- the clock is right over here. thank you. the first question is to mr. wolfe. >> thank you for your opening statement. he wrote all logic that new hampshire the first in the nation so i wouldn't have recommend you keep to his limit. fol