you're with senator mcconnell connell. but what about that statement by the president? >> i think the president's political arm is now taking over this debate. it's unfortunate because i, like many others in my state and throughout the country want banks to be banks. i don't want them to be casinos and take risky bets on our money. i think that this is an issue that we can clearly come to common ground and just solve the problem. where there are problems we should fix them. but the regulation and the bill that is being proposed by the banking chairman dramatically affects businesses, for example, liberty mutual, mass mutual. these folks are caught in that regulation as well. it's going to cost potentially 25 to 35,000 jobs. >> schieffer: wait a minute, senator. how can can you say that? >> i can say it very clearly because the regulations that are trying to reel in with some of the risky hedging they're doing also affects companies like i described in massachusetts. it's very klee. speaking with secretary geithner the other day i noted that the president's comments. but

reid uses that to start attacking cornyn and mcconnell in the republican efforts to derail financial reform. the president mentions the mock connell-cornyn meeting in his -- mcconnell-cornyn meeting in the saturday address and now they're talking about refunding the fund-raiser -- >> megyn: want a minute, let me stop you there, you're neck deep in it but here not. the allegation is by the white house and reid is that the senators, these republican senators, john cornyn and mitch mcconnell are out there trying to make things better for the financial industry because the allegation is that they received boat loads of dough. >> absolutely, and they held this fund-raiser last week, the story that we reported. what is happening now is you have a tit for tat, reid is being called to the carpet based on our other story he was at a fund-raiser at guess where, the most nowhere -- notorious name on wall street, goldman sachs, where he raise the significant funds and heard their gripes about financial reform. megyn: everyone, the democrats and the republicans, are taking money from the so-called wall street fat cats as they argue about wheth