we're going to talk to melanie sloan who testified. first steve croft who is reporting prompted congress to act. how big a problem is it? i was stunned when i saw your report initially. >> i was stunned when i heard about it. >> you had no idea that congress didn't have to abide by insider trading rules? >> no. just in response to nancy pelosi's comments about the whoop dee doo. if you or i did -- went out and bought stock in a company we were doing a story on or sold the stock, we would get a call from the s.e.c. probably within 48 hours. >> right. >> we'd be in danger of losing our jobs because both of our companies have ethics rules that would prohibit us from doing that. in congress, nothing. >> and the idea that they could be inside hearings and hearing about dire financial information back in 2008 about the stock markets, this is going to tank in a few days, the bubble is bursting and to then short the market so that you will actually profit off the collapse is pretty -- that's stunning. >> one of the most interesting examples is

congressman brian baird who tried to pass a similar ethics bill years ago without much luck and melanie sloan, citizens for ethics and responsibility in washington. she testified before congress in support of the stock act. congressman, you helped to introduce the stock back in 2006. it died over and over again in committee. virtually no one even show upped for some of your hearings. do you think it just died again? >> well, it seems like eric cantor would like to see it die. i just don't buy his explanation. bills are often referred to multiple committees. you just waive that. let financial services handle it, that's in their bailiwick. if he's serious about passing this, why doesn't he set a date? by the end of march we'll bring this bill up for a vote and get it done. it is not that complicated. ask people to do in congress that we ask the rest of the country to do. he seems unwilling to make that happen. >> does it seem like this is dead for now? >> i don't think it just died, i i think eric cantor killed it. his calls for bipartisanship, that's a new one for eric cantor who hasn't cared

. >> melanie sloan, congressman brian baird, thank you so much. follow me on twitter. let me know what you think. @anderson. >>> the two top republican contenders promising to stay positive. are they keeping their vows? we're keeping them honest and looking at which one does better against obama in the polls now. >>> and later, a courtroom surprise from jerry sandusky's corner. the move that seemed to come out of nowhere and what his client is saying about the sex abuse charges against him. as well as from attorneys from two of sandusky's accusers. when you're a sports photographer, things can get out of control pretty quickly. so i like control in the rest of my life... especially my finances. that's why i have slate, with blueprint. i can make a plan to pay off big stuff faster... or avoid interest on everyday things. that saves me money. with slate from chase, i'm always in control. financially, anyway. get slate with blueprint and save money. call 855-get-slate today. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more

melanie sloan, donna nagy -- i hope i have got that right. donald langevoort. ms. nagy is a professor of law. professor langevoort is a professor of law at georgetown university. i am having flashbacks to those terrible days in law school. remember, i am the one who asks the questions. and finally, robert walker, former chief counsel and staff director of the senate house ethics committee. thanks to all of you for being here on relatively short notice. you bring a wealth of experience and information. ms. sloan, we will begin with you. your organization has one of the best acronyms in washington. c.l.u.e. you have advocated legislation to deal with this insider- trading problem. please proceed. >> thank you, chairman lieberman. thank you for inviting me here today to join such a distinguished panel. no disrespect, but america does not trust you. 46% of americans believe congress is correct. stories on "60 minutes" a few weeks ago was bid because it confirmed what people already believe. -- was big because it confirms what people already believed. we have seen legis

melanie sloan. donald g. lingibort is from georgetown university lieu center. i'm having flashbacks to those terrible days at law school. i'm fearful. remember, here i'm the one who asks the questions. it wasn't that way in law school. finally, robert walker. and former chief counsel of the senate and house staff ethics committees. thanks to all of you for being here on relatively short notice. you bring a wealth of experience and information. miss sloan, we begin with you. your organization has one of the best acknisms in washington, c.r.e.w., citizens for responsibility and ethics in washington. please proceed. >> thank you, senator lieberman. thank you for inviting me here today to join such a distinguished panel. no disrespect intended to any of you personally, but the fact is america does not trust you. 46% of americans believe congress is corrupt. stories like the one on "60 minutes" a few weeks ago become such big news because they confirm what so many people already believe, that many of your colleagues use their positions not for the public good but to

we will now call the second panel, melanie sloan, executive director of citizens for responsibility andethics in washington. donna naki. i struck out twice. okay. donald. the professor of law at indiana university, more school of law. john coffee is a professor of law at columbia law school. i'm having flashbacks to those terrible days at law school. i'm fearful. but remember, you are the one who asked the questions. it wasn't that way in law school. and, finally, robert walker of counsel at former chief of staff treasurer both the house and senate ethics committees. thanks to all of you for being here on relatively short notice. you bring in various ways a wealth of experience and information. so ms. sloan, we will begin with you. your organization has one of the best acronyms in washington. clue, citizens for responsibility and ethics in washington. i know you work together with a number of other public interest groups that advocate legislation to deal with this insider trading problem. please proceed. >> thank you. chairman lieberman, transit and other members of the committee, thank