dorsey i submit and mr. stein of course agrees with me because i was in his class in ferris buehrle i was in the background if you look closely. i submit to you that president obama has lost the confidence of the american people economically. they still like him as a person. the polls show that but economically all the polls show that president obama has lost the confidence of the folks. so when a leader loses confidence, whether it be a war-time leader or an economic guy, whatever it may be, then people start to draw back and go, you know what? i might buy that car next year. i'm not buying t this year even though interest rates are low because i don't know what's going to happen. and i think that's what's going on here, mr. dorsey. >> well, with all due respect, bill, i think the problem is a lot more than fear and loss of confidence. it's hard core data and hard core reality. we have a loss of demand from the economy that started with the recession. and it's never been replaced. >> the folks won't spend. the fo

going to hit a wall and i think we've reached the point or the wall is right in front of us right mr stein the book is planet ponzi but let me ask you this question what in the economy is not a ponzi scheme or ponzi the pension systems are a ponzi scheme the entire notion you know focusing g.d.p. growth on these underlying fraudulent ponzi schemes is a ponzi scheme what is not a ponzi why we're in is there any sea of tranquility and this chaos well it's interesting that you should say that. probably not right now but i think that we're reaching a point that there's no more elasticity so i think basically the rubber bands about to snap and i think that people are going to have to do something i read in the papers this weekend that president obama who's on the campaign trail now i'm not political i don't care if a democrat gets elected or republican i vote my conscience and i vote the right thing and i think that's what people in america and that's what people all over the world should do they should get issues that they understand and actually get real answers from the politicians for a cha

. >> there is a lot of pent-up anger, mr. stein.the president has every right to exercise his executive discretion it's done all the time with prosecutorial discretion. president bush did it. what president obama was talking about about the dream act is there are a lot of provisions including the citizenship provision that he does not clearly have the authority to do under an administrative executive order. but what he has passed now does haven't any path to citizenship. what you were arguing against the dream act, it was too big were gave much. all's doing is on kids, we are talking about kids -- they didn't break any laws. megyn: keep it on legalities. that's the question. whether he has the legal right. the president and his team argue they have prosecutorial discretion. >> the term prosecutorial discretion did not appear anywhere in the immigration law. he does not have that authority. it's not something you can apply to the immigration law. what the president names as a legal standard. there are not limits to alet in or unlimit

mr. sam stein. combat veteran of the united states army wes moore. senior national correspondent for "bloomberg business week" josh green. and the anchor of bbc world news america, katty kay. and the former chairman of the rnc michael steele. full house today. good to see everybody. joe and mika have the day off. and that means we're starting with lebron, wes. [ laughter ] >> that means we're starting with lebron. say what you want about the guy. he doesn't perform in the clutch. this is one of those games like michael jordan would love. they are on the road. they're going to lose. he simply took over last night. >> you know, regardless of what you think of lebron james, love him, hate him, you literally just stared at the television in awe of what you're watching. there was nothing that the celtics could do to stop lebron. he was just not going to lose last night. >> are you lebron hater? >> i have an irrational hate of the miami heat. it's inexplicable. >> but it's a post lebron hate. >> no, no, no. it was when they were like, we're not going to wi

mr. daniel finkel stein of "the times"? >> yes. >> does he act for you as a sort of unpaid adviser and/or speech writer? >> no. he's just a very good friend. i've known him for many years. we worked together when he was the director of research at the conservative party. we stood for parliament in the same general election, but he was unsuccessful. and he's a very good, he and his wife, nicky, are very good friends of my wife and i. >> has he ever assisted you in the drafting of your statements and speeches? >> well, he -- i talk to him about pom tigs -- politics like i do my other friends, and he occasionally provides good one lines and jokes. it is a function those who know him know he's been performing this function for about 20 year for a whole succession of conservative politicians. >> has there, as a form of quid pro quo, do you assist him in any way with providing material information for his stories in "the times"? >> no. i mean, if you're suggesting there's something improper in that. of we have political conversat

mr. davies. >>> coming up, darrell issa is changing his tune on the administration's part in fast and furious. sam stein joins me next. >> and marc anthony joins me to discuss the impact of the latino vote this november. and why he's supporting president obama. share your thoughts on twitter. we're coming right back. >>> welcome back to "the ed show." republicans are still creating a lot of nonsense in their war against president obama and the fast and furious standoff. congressman darrell issa has sent a letter to the president of the united states challenging the president's assertion of executive privilege. your privilege assertion means one of two things, mr. president. either you or most of your senior advisers were involved in managing operation fast and furious and the fallout from it or you are asserting a presidential power that you know to be unjustified solely for the purpose of further obstructing a congressional investigation. funny how darrell issa wasn't alleging a coverup just two days ago. >> do you have any evidence that white house officials were involved in these decisions, that they

campaign finally did get back to sam stein and the rest of the country about the lilly ledbetter fair pay act, but the best they could offer in terms of position on it was mromney would not actively work to repeal the law if he were elected president. it didn't say it he would have supported it, if he would have signed it when it came up, if people who were against it were right or wrong, he just said he would not repeal it if he were elected as president. and i guess that's where the romney campaign takes a strong stand for equal pay for women since republicans who did have a chance to vote for that legislation were overwhelmingly against it. then the damage control got even worse after that. the romney campaign then tried to roll out public support from two actual women who serve in congress who support mitt romney, and that was neat. women, look. but it did not help, because both of those women were among the almost all republicans who voted against the lilly ledbetter fair pay act in kronk. and that brings us to today. so there is another equal pay for women bill in the news. it's called the paycheck fairness act, and it's kind of companion legislation

mr. obama. it's working, but won't for long. people want meaning, a higher and declared purpose." joining me now are karen finney, former dnc communications director and msnbc political analyst and sam steinolitical editor and reporter. karen, this is an odd night for us. it is usually, at this stage of the campaign, for that matter, at any stage of the campaign, professional democrats who are publicly worrying about the democratic campaign and why the democratic candidate is doing everything wrong and if the democratic candidate would just listen to these professional pundit democrats, everything would be okay. but here, it's happening to mitt romney. how did we get here? >> indeed. but don't worry, lawrence, there's plenty of time for democrats to do that. don't worry. >> yes, they will. >> look, we got here because there are a number of republicans who recognize that a strategy of trying to do no harm, right, as your campaign strategy, is not going to work at a point. because, particularly when you're running against an incumbent. because, you know, you're essentially asking people to switch horses, to use a metaphor, in the middle of a race. it takes more than just to say, i'm not tha