mr. douglas eliot. fellow of the brookings institute is recognized for five minutes. >> thank you for the opportunity to testify before you again today. these are institutions most capable of triggering financial crises and merit closer regulation than most other firms and should be held to a higher standard of financial conservatism. the need for closer regulation is not erased by the steps taken to reduce the potential for government bailouts. a serious financial crisis would still lead to a cub strax of credit, sending the economy into a deep recession. as you know, the recent recession cost taxpayers far more than did the bailouts. let me emphasize a few points made in my wherein testimony and in a paper we wrote last year. first, no part of the financial industry should receive an automatic discollusion. there's too much danger of regulatory arbitrage if we go by legal category. second, there are no absolutes in determining systemic importance. there are multiple ways of measuring it will level of

. >> eliot: while mr. obama had treated the issue gingerly, the officials now admit vice president biden forced his hand with think unequivocal comment on sunday's met "meet the press." >> i'm absolutely comfortable with the fact that men marrying men, and women marrying women and heterosexual men marrying women are all entitled to the same exact rights, all the civil rights, and all the civil liberties and quite frankly i don't see much of a distinction beyond that. mitt >> eliot: mitt romney certainly does. >> my view is that marriage itself is a relationship between a man and a woman. that's my own preference. i know other people have differing views. this is a very tender and sensitive topic. >> eliot: according to the latest gallup poll half of adult americans favor the president's position while 48% side with romney. the numbers are in the margin of error. with me richard kim, executive editor with the nation, and william. richard, let me start with you. how big is this? is this one person who hans t

eliot: oh yeah, of course not. perhaps to show that he, too, were meeting those requirements mitt romney released his own birth certificate. mrobama is facing more serious political threats from republicans super pacs which plan to spend roughly $1 billion to defeat him, and other democrats in november. the bizarrely the latest web ad compares mr. obama to the basickers who tanked the economy. >> failed investment strategies jobs eliminateed billions lost president obama paying wall street games with our money. >> eliot: blaming him for wall street games paid for by wall street money is getting too complicated for me. fox played games with its own game with claims that they're a news. >> the guiding force behind the most improbable changes this country has ever gone through. ♪ >> eliot: with more on i'm joined with john who had a web page demanding an investigation over claims mitt romney was an unicorn. he might be. also joining me routers columnist david, rhode, who never thought he would be discussing unicorns in the middle of a presidential race. i don't know if i should apologize or say this is one big joke. this is kind

eliot. >> help me out here i have been reading these stories as they have been emerging. explain to me -- who is mrchen and why is the entire world focused on him? is he that important? was he that fundamental of civil rights voice in china. >> well, you gave a pretty good synopsis of what he is trying to do, what makes him unusual as an activist in china who has come to the attention and not positively so, the chinese government is actually his instinct was to find a way to continue his activism while staying in china. the united states has a long history of -- of bringing activists from china safe passage in asylum in the united states, so this was potentially a revolutionary situation. unfortunately china has reverted back to form. they have been cracking down on dissidents for a number of years since the beijing olympics. they don't want to see a beijing spring, and it has been a very tough time for mr. chen and other activists. he was able to evade house arrest as a blind activist. extraordinary gesture of her rowism. >> the gesture really is something straight out of a hollywood script. you r

eliot: the fbi already has it. where do we start? >> let's begin with mr. zuckerberg.llion to $4 billion you're sued by your investors and you get pretty much defended by nasdaq and investigated by the sec. i say that makes the worst honey moon than anybody has ever had. >> eliot: do you think she'll drop him? he's only worth $18 billion sorry, that's enough. >> he waited to go public before marrying her. >> eliot: you thought he would lose $4 billion a week and say did he sheet-short the stock. >> he's lucky to have her. she hung in there nine years and she has a heart of gold. it happened the same week that facebook went public. >> eliot: do you think he makes all of his private information public so we can see it? >> i sincerely doubt that. but now that we see the old scheme of not paying taxes to the government, the only good news for zuckerberg, he's only the second most loathsome character. >> eliot: cory booker. >> we love cory booker. he had a rough week. he went on "meet the press" and equivocating reverend wright and discussing what bain does. this caused a c

eliot: give us the run down on that. >> he will bring that forward next week. we're coordinating it to work with mr.ons which your viewers can to go to and sign. and we're going to really up the ante and pressure exxon mobil to let america know that they are the hold out that refuses to accept-- >> eliot: i hate to say the

. >> eliot: in the can calf phon any say that both sides are equally wrong or write. the fact that it's said loudly that it's correct, mrsecretary, there seems to be a risk in what president obama said at the nato summit in his press conference where he said, mitt romney was very good at what he did. he seems to be ceding to mitt romney that he's good. and if he's good in creating jobs then and he'll be good at creating jobs now. was he ceding that? >> i don't think so so. mitt romney was very good as making money and making money for investors, for shareholders for private equity partners. but the job of president is most specifically not to make money for shareholders. we're not shareholders. we're citizens. the job of president is not to build wall street up and make billionaires out of multimillionaires. we see wall street already doing that. the job of president is actually to provide wide-spread prosperity, and to make sure that that prosperity comes in many forms, and to make sure as john f. kennedy said the rising tide is lifting our boats. it's very different from mitt romney's concept of success. >> eliot: you

mr. smith goes to washington." in 1939 when jimmy stewart did that movie there were zero filibusters. in the last three years there were 80 filibusters and in the language congress there were 140 filibusters. >> eliot: i wish you the best of success in the litigation and to get the congress and senate to form its own rules even before you have to go through the course of litigation. this is the single most process issue on the capitol hill right now. former congressman bob edgar thank you for some of your time tonight. >> thank you eliot. >> eliot: later on, i interview chris christie proves he can't do anything except be governor or vice president. the few finder is next. tequila lime tacos. [ man ] delicious! [ male announcer ] it's festival of shrimp! for $12.99 try any two shrimp creations like new barbeque glazed shrimp. offer ends soon. we're servers at red lobster. and we sea food differently. etch-a-sketch candidate, an image where romney is anti gas. and who doesn't want 50% more cash? ugh, the baby. huh! and then the baby bear said "i want 50% more cash in my bed!" phhht! 50% more cash is good ri... what's that. ♪ ♪ you can spell. [ male announcer ] the capital one cash rewards card. the

mr. smith goes to washington." in 1939 when jimmy stewart did that movie there were zero filibusters. in the last three years there were 80 filibusters, and in the language congress there were 140 filibusters. >> eliotou the best of success in the litigation and to get the congress and senate to form its own rules even before you have to go through the course of litigation. this is the single most process issue on the capitol hill right now. former congressman bob edgar thank you for some of your time tonight. >> thank you, eliot. >> eliot: later on, i interview chris christie proves he can't do if you have copd like i do you know how hard it can be to breathe and what that feels like. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open a full 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. and it's steroid-free. spiriva does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taki

mr. jobs playing president roosevelt. take a look. >> i'm sure your victory will be great. insanely great. >> the former apple employee who had this video craig eliote video was used to inspire salespeople at an internal apple meeting way back in 1985. a current apple executive, meanwhile, getting attention for selling nearly every share of apple he owns. he sold 95% of his shares last friday according to paperwork filed with the securities and exchange commission. not entirely clear why. >>> internal focus on jobs on wall street. tomorrow at 5:30, the latest unemployment numbers from the labor department. they look like they could be very bad indeed. a private estimation by adp puts the jobs gain last month at slightly more than $100,000. now past month had been as high as $250,000. it led people to feel better about the economy and the true disaster for the white house, jon and laura, would be if more people started looking for jobs but then the jobs weren't there because then you'd see not only a lousy jobs number tomorrow, but an increase in the unemployment rate, as well. and i think that's exactly what we're going to see. >> it'll be interest

>> eliot: for more on the extraordinary losses by morgan chase, i'm joined by labor secretary, and author of "beyond outrage" what has gone wrong with our economy and democracy and how to fix it. mrcretary, thank you for joining us. my first response when i saw the headlines for the morgan chase was so soon. i thought they would wait for a year before going back to this type of behavior. are we wrong to be shocked by the speed they've dove right back into this sort of stuff. >> it's not wrong to be shocked by it. we have the biggest bank in the united states by assets. it's led by someone who has been the champion of deregulation, the warhorse saying don't regulate. don't overregulate and who has been trying--jp morgan chase and jamie dimon have been in the lead of trying to water down the vocal rule which was designed to stop these kinds of things. to prevent these trades that are too speculative too excessive and not prudent and certainly would effect commercial democracy and it happened within living memory. you know, we all suffer from a certain memory loss and a short-term time horizon but it's hard to hide from the fact that this is just a few years ago. this whole thing--t

eliot spitzer out of new york and here at hq, scott ja cobson and frank. scott, let me get to you first of all, what's your reaction to what mr. levin was saying a moment ago? >> whether it's hedging or not part of the global or macro parts that large institutions have to take. large institutions are important to grease the wheels of the economy, and we rely on that. but there is an asymmetric playing field with risk/reward. let's say jpmorgan is the new york knicks. if they lose the series against the heat, should they get another chance to play? that may not be fair to all the other teams in the league or the taxpayers. so the taxpayers and society as a whole needs to decide how much they're willing to sacrifice for these large institutions. >> something we got into a little bit before the break, do you agree or disagree with the following statement, if we allow or eliminate prop trading here in the united states through the volcker rule, that people who maybe want to engage it in will move -- maybe the banks themselves, the headquarters, will move to singapore, like a unit of proctor & gamble did yesterday so that they can

mr. vice president, good morning. >> hey bill. welcome to current tv. i am so happy that your show is on and doing so great. and good morning, eliot>> good morning. >> i can't tell you how proud and excited we are to be here, to be part of the term. so we will do our best to carry the flag from 6:00 top 9:00 every morning. >> it's a very exciting and informative show. i am really happy about it. >> you know, i have totel you mr. vice president, you and i have a mutual friend in suzy suzy beull. she sent me an article, global warning close to become can irreversible. what happened? why aren't people talking about it? first of all, i think most scientists would probably not reach that particular conclusion. some are irreversible because we are already raised the temperature of the earth by a degree and more is to come because the heat is stored up in the occasions. we have a good chance to avoid the worst of the impacts that the scientists have been warning us about. your question is really why have we failed to rally and do something about it? >> congress is not talking about it. >> first of all, i want to compliment president obam