frankly, we should go back to a jimmy stewart world where you knew the local banker, he knew you -- [ applause ] you went to him, he knew your circumstances and you worked it out. a lot of problems today with foreclosure modifications, the fact these are not in loan portfolio, they're all in securitization somewhere, not all due to fannie mae of the past, but when a bank sells it and buys it back, that's not much of a securitization in my opinion. you've only made the situation more complicated. so i want to go back to a simpler time. i want to go back to a time where we do have credit available. certainly, there were problems in the past. it's not a perfect model to have a positive-based model. i will say on the aside, the assumptions are, the estimates are a trillion dollars next year in originations. well, banks have a trillion dollars in cash doing nothing. and to me the debate should be how do we get those banks to take that trillion dollars to put it into the market. [ applause ] >> i think it's unlikely that we're going to end up in a market that's really back to the jimmy stew

and jimmy stewart says "i'm sorry, mr. sdwrons, we've lent that out to your next door neighborhood to make sure she could buy a house, that money is tied up for 30 years." and he says "but i want my money back now." that's called not having liquidity. the bank doesn't have the money. they passed it on and got a spread on the two. if you run out of money, you go out of business. you can't fund yourself. and the firms in the '80 crisis, the rest that went under or were forced to merge were those that ran out of liquidity. they couldn't fund themselves. they would literally stop dead on the spot. so the overwhelming lesson liquidity matters more than anything. the second lesson is if you're going to have a lot of assets on your balance 'sheed they better not be... you better be able to find a buyer and they better be qualities a sets. so risk management over the kinds of assets that you put on that will be stuck with you for a long time had better be very strong. >> rose: what level of capital requirement do you think are app

we need more bankers like jimmy stewart. remember jimmy stewart in "it's a wonderful life."assionate compassionate. instead we have gotten banker like henry potter who just foreclose and do nothing else. bruce springsteen has an amazing new song called "we take care of our own." that's song is about the distance between the american dream and the american reality right now. we need bankers who listen to bruce springsteen and understand that etch-a-sketch candidate, an image where romney is anti gas. >>i'm a political junkie. this show is my fix. [[vo]]this former two-term governor is ... [ male announcer ] this is lawn ranger -- eden prairie, minnesota. in here, the landscaping business grows with snow. to keep big winter jobs on track at&t provided a mobile solution that lets everyone from field workers to accounting, initiate, bill and track work in real time. you can't live under a dome in minnesota that's why there's guys like me. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better. ♪ ♪ [ no audio ] >>> when others raised the p

that was being around hollywood glitter and such incredible actors and actresses, john wayne and jimmy stewart, he was so serene and so calm and he was just like, you know, in a wonderful life. claudette colbert, loretta young, they were all the reagans' friends, it was fascinating. >> famous story, president reagan got to turn the table on bob hope, who he once introduced, i believe, it may have been a dinner for queen elizabeth, but any event, hope was there, and president reagan introduced hope as someone who had performed for seven american presidents and entertained four. great line. >> great line. >> did the bushes have favorite entertainers? >> oh, yeah. i think, we had -- we always had an eclectic mix. i remember having lyle lovett, we had natalie cole, who was fabulous, for one of the dinners. we had opera singers, we had the boys choir of harlem, i think, for one of the ladies lunches. we always try to -- you would try to have sense who the visiting head of state, if it was the state dinner, if they had a preference, whether it was classical or temporary, and we'd try to book them. a

so on the right, for example, people like john wayne, people like jimmy stewart, on the lecturer gregoryk and today george clooney. these people have played serious characters in the movies and for heston, he played as a, john the baptist, played presidents geniuses, so he had the sort of most other than john wayne, he was the most serious image-conscious actor at this time. but it's interesting to see a list on his as his role on the screen so what people don't remember his heston was a liberal early on. he was the first hollywood celebrity to march in a civil rights demonstration. he went to oklahoma city and made it 61 to help picket against restaurant segregation. he also led a hollywood delegation to washington in 1963 for martin luther king's march on washington and remained a liberal up until the vietnam war started to change and then in 72 he became a full-fledged conservative. >> next question comes from los angeles. >> hello, thank you for taking my call. first of all hollywood does films about 9/11. how come they don't talk about the motivation of it, which is israel and how c

or actually require people who want to stage a filibuster to do what jimmy stewart did in "mr.n," actually stay up all night and work hard. changing the filibuster rules may sound like a techno cratic little issue but if we want the senate to reflect what most of us want, and have congress do the people's guys then it's time to get this changed. occupy wall street made the numbers 99 and 1 symbolic of the need for fairness in our income direction. and minute the next slogan should be save our democracycycycycycycycycycycycycycycycycycycycycycycycycycycycy so, you guys grew up together. yes, since third grade... what are you lookin' at? not looking at i anything... we're not good enough for you. must be supermodels? what do you model gloves? brad, eat a snickers. why? 'cause you get a little angry when you're hungry. better? [ male announcer ] you're not you when you're hungry™. better. [ male announcer ] snickers satisfies. >>just refreshing to hear. no other television show does that. we're keeping it real. home of the brave. ♪ ♪ it's where fear goes unwelcomed... ♪ ♪ and cert

or actually require people who want to stage a filibuster to do what jimmy stewart did in "mr.to washington," actually stay up all night and work hard. changing the filibuster rules may sound like a techno cratic little issue, but if we want the senate to reflect what most of us want, and have congress do the people's guys, then it's time to get this changed. occupy wall street made the numbers 99 and 1 symbolic of the need for fairness in our income direction. and minute the next slogan should be save our democracy and the numbers should be 61 and 60, symbolic of the need for real majority rule. that's my view. so you can catch morning tee time in monterey and the afternoon meeting in los angeles all without running out of gas. just make sure you don't run out of gas. ♪ ♪ well-qualified lessees can get a 2012 jeep grand cherokee laredo 4x4 for $319 a month. >>just refreshing to hear. no other television show does that. we're keeping it real. >> some day soon it will be deja vu all over again. pelicans smothered in black oil. wildlife drowned in the dark slick. ruined marshes a

i think the, i think the discussion we should have is going back to a jimmy stewart world where you knew the local banker, he knew you, and if you need a modification, you went to them. he knew your circumstances and he worked about. a lot of problems we have today with foreclosure modification is the fact that these are not loans on portfolios. they are all in securitization somewhere. when a bank sells 1000 loans to in a mortgage-backed security, that is not much securitization. you have only made the situation complicated. i want to go back to a simpler time. i want to go back to a time when we have quite a bit available, certainly, there were problems in the past. it's not a perfect model. the assumptions and estimates are that we need a chilean dollars in the next year in originations. well, banks have $20 in cash doing nothing. to me, the debate should be how we get those things to take that trillion dollars and put it into the housing market. [applause] [applause] >> i think it's unlikely that we will end up in a market that is back to the jimmy stewart days. my memory of it's a w

>> i think it is likely that we will end up -- that we will not end up in the jimmy stewart days.if i remember correctly, there was an evil banker in that timeframe. [applause] [applause] >> securitization is a function of law. it is something that shows us that it is important that we think about risk and risk potential, all those things are important. i agree with mark that the gse is has not been good in addressing this crisis. the oig report shows that they have dropped the ball on monitoring services, costing billions of dollars by failing to make sure that services are modified appropriately. it is no secret that the gse's have been the major impediment to implementing principles, which we desperately need. [applause] [applause] i think with securitization, and it's part of what our lives are and we have to make sure that people are held accountable. >> i think we need to start with our friends in the administration as well. some of that happy talk is a little too happy. [inaudible] there is an inherent conflict of interest in that market that is being addressed. that has to

the discussion we should have is going back to a jimmy stewart world where you knew the local banker and he knew you. if the needed modification the fact is that these are not loans on portfolio. when a bank sells 1000 loans in a mortgage-backed security that is not securitization. you've only made the situation more complicated. i want to go back to a time when credit was available. i will say the assumptions are that we'll need a trillion dollars in the next year in originations. banks have a trillion dollars in cash doing nothing. . . . . he made the observation not out of aberration but contempt and a believe that such a society was rotten and would collapse under militant islam. the terrorist trial in 2008 was introduced in evidence entitled explanatory manner -- memorandum on the strategic goals of the group. the phrase the group refers to the moslem brotherhood in america. the document was written in 1991 from a senior hamas leader and explained that the movement is what the memo refers to as a settlement process to establish itself in the united states and to pursue a civiliz

i think the discussion is going back to a jimmy stewart world where you knew the local banker and hew you and he helped your portfolio and if he needed a modification coming into your circumstances and you worked out. of the problems we're having today, the fact that these are not loans on a portfolio, they're all securitization is somewhere. when a bank sells a thousand loans and its bought back a mortgage-backed security, that's not much of a securitization. you heavily made the situation more complicated. i want to go back to a time where we have credit available. there were problems in the past. it's not a perfect model, the assumptions are we are going to need it a trillion dollars in originations. banks have a trillion dollars in cash doing nothing. how do we get those banks to take that trillion dollars and lend it? [applause] i think it is unlikely we're going to end up in market that is back to the jimmy stewart days. my memories of "it's a wonderful life" is that there are also evil bankers. [laughter] it is simplistic to say there was this halcyon time where we lived in ed

a lot to talk about, including jimmy carter saying mitt romney won't be such a bad president. he can't help himself. we'll explain. plus, jon stewart breaks down the slow-jamming of the news with jimmy fallon and asks why, why? >>> first the news at 5:30 a.m. here at 30 rock in new york city. in the words of president obama's campaign manager, "welcome to the general election." a day after mitt romney all but declared himself the republican nominee, the obama re-election team is announcing its own campaign kickoff. on may the 5th, the first lady will join the president for rallies in virginia and ohio, two battlegrounds critical to an obama win in november. but the republican national committee says the president has been campaigning already for weeks and using taxpayer money to fund political trips disguised as official events. rnc chairman reince priebus filed a formal complaint with the government accountability office and called for an investigation. the white house responded in an official statement, reading "this week's travel has been part of the president's official responsibility to get outside washington, d.c., hear from

jimmy: "titanic 3'd." yeah. and sandler -- and he goes -- [ as sandler ] "i lost my necklace. it went over the boat!" [ mumbling ] [ laughter ] >> steve: who else was in that movie? [ laughter ] is french stewartlson. [ laughter ] [ as jack nicholson ] >> jimmy: "jack nicholson is in the movie." >> steve: oh my god. what about the dad from -- from "blossom"? [ as christian slater ] >> jimmy: "christian slater's in it too. [ laughter ] they're both in the movie." >> steve: george gaynes isn't in it? >> jimmy: no, george gaynes is not in the movie. >> steve: are you sure? are you sure? are you sure punky brewster's -- >> jimmy: -- my punky brewster's dad impersonation. no one knows it. no one laughs at it. >> steve: do you guys know punky brewster? [ cheers and applause ] [ as henry warnimont ] "oh, punky." [ laughter ] ♪ two words. so lame. that's so lame. george gaynes impression. so lame. [ as adam sandler ] "i want my necklace back." "you drew a picture of me naked!" [ laughter ] ♪ thank you, chunky peanut butter, though i prefer to call you by your less insulting name, "big-boned peanut butter." [ laughter ] not chunky. >> steve: not chunky. >> jimmy: big-boned. >> steve: not husky. >> jimm

jimmy: we were at the beautiful ball. >> the beautiful ball. two years ago. i met with you kristin stewartight. >> i -- we were -- i remember that -- i think katy perry was like running through one of the halls with her light up dress and you were -- >> jimmy: her dress lit up with, like, christmas lights. >> her -- yeah, yeah. and you guys were like -- kind of yelling at each other across the hall and kristin and i came in and it was like -- "jimmy fallon and katy perry, what am i doing here?" you know? and i went up to you and i -- and i shook your hand and i was like, "jimmy, big fan. i want to be on your show one day." you were like, "yeah, come on tomorrow." i was like, "really?" you were like, "yeah." and -- >> jimmy: oh, come on! i don't talk like that. "hey, man! yeah, come on tomorrow!" that's not what i sound like at all. [ laughter ] you gotta get a better impression. it was probably like -- [ elegant tone ] "well, please, just call my -- and then we'll figure something out." [ light laughter ] >> [ british accent ] "yes, please call the show tomorrow. yes." >> jimmy: "yes, that

he was a young 25, 26-year-old kid working for jimmy carter and stewart eisenstat.ing about. god, you're old. >> thanks very much. >>> it's been a couple of tough weeks for president obama, but open mike catches him being too honest with the russian president and then tough questions at the supreme court convince some, at least, including our own senior analyst jeffrey toobin who is a real authority on the supreme court that the health care reform law could be in deep, deep trouble right now. all of this while getting slammed by his rivals on a daily, sometimes hourly basis out there on the campaign trail. let's discuss what's going on with the president's communications director dan pfeiffer. thanks very much for coming in. >> thank you, wolf. >> let's talk about the health care reform law. i was surprised, personally, when i heard the president say this the other day. listen to this. >> i have enormous confidence that in looking that the law, not only is it constitutional, but that the court is going to exercise its jurisprudence carefully because of the profound

stewart will attend. the man with the task of making all them and the president laugh, jimmy kimmel who is the host.0 tonight eastern time. >>> time now for something we like to call political gut check where we take you beyond the speeches and break down what is going on in politics. mitt romney is the all but certain republican nominee for president and that is good news for him because the party is finally showing him a little love. this week the rnc made it clear if not technically official, romney would be the nominee after he swept all five states in tuesday's primary. his party is now behind him pu are the voters? that is the question i asked our political dire political director, mark preston. >> we heard mitt romney talk like he's the presumptive nominee. hadn't spoken in that kind of tone, but he did on tuesday night when he swept the primaries including pennsylvania, another big thing happened the republican national committee decided to get behind him, randi and call hip the presumptive nominee, up until wednesday of this past week they had not done so. the third thing is newt gingrich d

jimmy fallon, you know. it will be fun. >> let's talk about the guest list. ice a lot of a listers, george clooney, stevie wonder, martha stewart her mother, they're getting a nod and two of the real housewives of new jersey. >> don't forget lindsay lohan, she's on the list too, yes. >> what's going on? >> yeah. i don't understand how it works but they can invite -- greta van susteren is the one who invited lindsay lohan and she brought kim kardashian. greta is the one who, correct me if i'm wrong, she wanted to boycott a recent d.c. award sew because she thought the host was denigrating to women. so she brings along these women who -- i mean public displays of jen i tallial and homemade upon tapes are a credit it to her gender. i don't understand the thinking. >> this is a family-friendly morning, don't forget. >> this is what's going on. the second that this event starts to achieve some sort of visibility, they completely undermine its relevance and credibility and eventually what's glorified in this country is stupidity. i will say this though. it does prove by having them there that obama is not an elitist when it comes to

martha stewart will be sitting at one of its tables along with kelly ripa and mark conswale os. jimmys the headliner. jimmy kimmel is the headliner. >> i will be at the afterparties. >> bill: i'm going to get some autographs. >> i'm a little bitter about it. >> let me know if you run into martha stewart. i'll get home decorating tips from you? >> bill: how would you like to serve a massive hotel meal and have martha stewart sitting saying what's this crap? >> sitting there in quiet judgment. >> bill: eric burns, so much to talk about. of course we had to talk about the biggest story in american politics today and that is dog gate. we're calling it. >> oh, yes. i was having some dog this morning. >> bill: i mean first of all what i don't understand is why is the romney campaign -- why did they still try to defend putting schamus on top of the car. i'm sure you heard this before. just in case. this is diane sawyer interviewing mitt and ann together romney and the question is would you do this all over again given all of the grief that you got for putting seamus on top of the car. >> cer

jimmy kimmel. some of the past hosts, take a look here, jay leno. he has hosted several times. and then it was jon stewart senator al franken, conan o'brien, and stephen colbert. he was one of my favorites. cedric the entertainer hosted the dinner in 2005. he's joining us by phone. cedric, it was a lot of fun. what did you -- were you nervous? were you scared? you never get really scared, do you? >> good morning. you know, it was -- it's not one of those things that actually scares me, but, i mean, it is weird because you get a call from the white house like right away to invite you to do this. it's one of those kind of odd calls. i find myself not wanting to answer the call for bill collectors, but when the white house calls, you just -- you know, you kind of ask a stupid question right away like how did you all get this number? >> did you believe it was the white house that was calling you or did you think somebody was spoofing you? >> that was during the time of pranks with ashton kutcher. i thought they were setting me up. >> i want to play a little clip for our audience. this was when you were talkin