i think one, we're seeing rahm emanual rule number one taking effect.d. this is an opportunity for a president who wants to bankrupt the coal industry and get rid of the oil and gas industry, to shut down offshore drilling in the gulf of mexico. i think the other thing that we're seeing is, is this -- i don't know why it is in this country. but we have a plan from 1994, that says how we're going to deal with these fires and these platforms collapsing. janet napolitano did not implement that plan until seven days after the leaks first started. and then we find out we don't have the equipment. i mean to me it's like katrina all over. because people at the top are not paying attention to what's going on on the ground. >> what do you make of bp's role here with regard to the blowout preventer and that was the final way to deal with a situation as horrific as this? do you think they had the right management? were they following procedure? where's the blame lie in terms of letting this catastrophe occur in the first instance? >> i don't think we know yet, chr

word is that rahm emanual is working with the fed to defeat the provision.ft it be found out that the fed is accepting worthless collateral. and the bank shying away from a crucial part of senator lincoln's derivative reform plan. her plan, insanely, transparency and capital requirements for derivatives. already in the bill, it would require banks to spin off their swaps desk, to keep their betting separate. but members of the obama administration, lawmakers, regulators and lobbyists are pushing to get that taken out. the fact is, without a balance sheet there's no point in having swaps. so it's self-fulfilling. senator judd gregg for one called the measure a job-killer. and said, quote, it's a punitive exercise aimed at wall street. and here to discuss that and other key issues in the financial reform bill, republican senator judd gregg from new hampshire, the ranking member of the senate budget committee and a critical voice in this financial reform debate. senator gregg it's a pleasure to see you, welcome back to the program. >> thanks, dylan. thanks for

for the offer, on rahm emanu, did rahm emanuel served in the israeli army and not the american army and? guest: i am not sure what he is talking about in terms of the interview with santita jackson. she is a close friend of michelle obama and she was at their wedding. but there is a lot of misinformation oline about the obamas. if he is referring to something about making comments about whitey, that is completely 100% false, it simply did not happen. the interviews in question that some people on line have raised have been listened to, including by me, and did not contain any of that. on the second question, as far as rahm emanuel, he did not serve in the israeli army but what he did do it during the gulf war in 1991 -- rember, he was too young for vietnam, too young for the american draft -- he went on -- over as a volunteer with an organization trying to -- remember, israel was being bombed by scud missiles sent by saddam hussein and it was a very, very frightening time in israel and in the united states as we were in the middle of the gulf war, and he went over and with a civilian un