simon johnson, previews at mit, coauthor of "white house burning." on the financial crisis over the years. >> thanknknknknknknknknknknknknknknknknknknknknknknknknknknknknk >>we're just getting started. (vo) the state of the 2012 campaign. brought to you by spiriva. 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 taking spiriva and seek immediate medical help if your breathing suddenly worsens your throat or tongue swells you get hives, vision changes or eye pain, or problems passing urine. other si

said the same thing on daily ticker on friday so simon johnson is also a very well known commentator mit professor former chief economist at the i.m.f. so we're seeing a few calls for resignation meanwhile today what do we just see we just saw jamie dimon twenty three million dollars compensation to say shame package approved by the board and a vote to strip diamond of his chairman title fell short so we're going to see a resignation we're guard less it is interesting and important to talk about and we will get to tomorrow with jim rickards because you are going to be on the show he's in studio you will not want to miss it and with that that's all we have time for that is it for our show today thank you so much for watching also we will be back tomorrow and meantime you can follow me on twitter lauren lyster and give us feedback on the show at youtube dot com slash capital account there is more that you'll want to catch this week not only will we have jim rickards in studio we will also have chris whalen in studio he has a different take on j.p. morgan and the unintended consequences

some of the authors he represents down here in the dc area include dan pink, rick akndson and simon johnson. with all that said. i'm going to start off with a few remarks. tell you about the over view of where things are. we'll hear from each of the panelists. we're start off with the question that every publishers ask at every convention. how many people read their books on a kindle? how many people read their books on an ipad? how many people read pint books? okay. that's encouragerring. that's where we are in the publishing industry today. i've been around, you've seen a lot of changes nothing like the change that is going on now. at the end of 011, -- 2011 approximately 20% of sales from major trade houses were digital. that's from almost nothing two years ago. most of the houses think that digital account for 30% of the sales. that's the billion dollar question. -- i think it's unquestionably great time to be a reader. there's more books than ever before being published. there's easier ways to get them, for the most part, they're cheaper. that's one for the consumers. i also think it's

tape we're doing it and then max you mentioned stealing from simon johnson we have from one thousand seventy three to one thousand nine hundred five the financial sector never earned more than sixteen percent of domestic corporate profits in one thousand nine hundred six that figure reached nineteen percent and then i know it also lead to between twenty one and thirty percent higher than it had ever been in the post-war period this decade it reached forty one percent so they're getting more and more of the profits they're shaking down all the corporations not just us but the corporations as well they're shaking down everybody and taking more of the profit oh yeah that's it the tape worm of their business model of stealing and larceny and turning a healthy economy into a cancer has spread throughout the a corporate world general electric for example most of their money comes from jamie's tapeworm program so jeff. jeff i like tapeworms so i dictate more. and this goes on and on and on some of these corporations are basically mimicking because there's a lot of jamie diamond can print th

simon johnson says it is about time to consider establishing an equivalent for wall street.riting this past sunday, and i quote: senior fellow at the peterson institute, professor at mit's sloan school of management and co-author of "white house burning" burning", an absolutely spectacular book that i was fortunate enough to get a copy of. simon thank you for joining us. give us the structural problem and what you think you can do about it. >> there is a problem at the heart of the federal reserve system. we have bankers and big bankers, and too big for sale banks, like jimmy dimon. >> just so it is clear to folks when jpmorgan chase is lobbying regulators to loosen the restrictions, he is lobbying himself. >> in part yes. it is complicated with a lot of players, but he is absolutely overseeing the budget. they do keep him a little bit buffered away from supervision but he is directly overlooking the research department that has a say on capitol requirements, taking bigger leveraged bets. >> since this issue has arisen and you have been driving the notion that there is a str

simon johnson one of the smartest economies i know on how to reconfigure our financial services regulatory't have another disaster. >> i hope simon figures it out. >> somebody has got to. >> yeah, somebody has got to have an answer. thanks, el lee at. when we come back we have a crying congressman who is now crying for his gun. there is a great twist to that story. >> i will continue to cooperate with the government's ongoing investigation the best of my ability. [ male announcer ] don't miss red lobster's four course seafood feast, just $14.99. start with soup, salad and unlimited cheddar bay biscuits followed by your choice of one of 7 entrees. like new coconut and pineapple shrimp or shrimp and scallops alfredo. then finish with something sweet. all four courses just $14.99. [ reza ] it's so much food for such a good value. i'm reza, culinary manager. and i sea food differently. has a best-in-class driving range of more than 550 miles per tank. so you can catch morning tee time in monterey and the afternoon meeting in los angeles, all without running out of gas. just make sure you don't

simon johnson one of the smartest economies i know, on how to reconfigure our financial services regulatory another disaster. >> i hope simon figures it out. >> somebody has got to. >> yeah, somebody has got to have an answer. thanks, el lee at. when we come back we have a crying congressman who is now crying for his gun. there is a great twist to that story. >> i will continue to cooperate with the government's ongoing investigation the best of my ability. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [ male announcer ] the jeep grand cherokee has won more than just respect. ♪ ♪ kill as many as we can... >>the story of the american born jihadist on the run for his life. an exclusive new interview only on "viewpoint with eliot spitzer." >>> all right back on "the young turks." you remember congressman randy duke cunningham he got sentenced to more than eight years in prison because he admitted to taking money illegally. remember how he cried when he was sentenced? watch? >> i know i will forfeit my freedom, my reputation, my worldly possessions, most importantly . . . the trust of my friends and family. >> that sounds t

joining simon johnson on stage, richard trumka, and right behind him is ben weber, a former member ofongress, republican from minnesota. he is an adviser to the mitt romney campaign, although he is not here as a spokesman for the campaign i should point out, and he is co-chairman and partner at mercury and weinstein here in washington. paula, the stage is yours. >> thank you, peter. thank you, simon, rich and ben, for agreeing to be on our panel. good morning, everybody. i am paula, and i'm an editor at bloomberg view, that's the opinion section of the bloomberg media family. we're one of the newest parts of the family, and everything we do is free on the web. come visit us. we have a lot of opinion. it was columnists, for example, simon is one of our regular columnists, and we have editorials, op-eds and blogs, so it's all free at bloomberg.com/view. so that's my commercial, and you we'll get to our regularly-scheduled show. um, i, i think just a few months ago the economy looked like it was going to be more of a plus for the republicans in the election than for the democrats. but th

doing, it will be amazing to see someone like jamie dimon to step forward, say the same things simon johnson the same thing tim carney says. this bank is too big, i'm getting embarrassed. i'm start to go drink vodka and i have to explain to my wife, let's go back to the good old days when you had requirements. probably fantasy land, but he would be the guy for the job. >> that's the real point. it's not that jamie dimon or jp morgan were a bumplg nch of boneheads, i wish more people would speak like that, "we made a mistake." these risks they're taking, the positions they're putting on, so the answer is, it worked for 70 years. let's bring it back. >> gambling over here, banking over here. >> we have to go. nice to see you. hang on a sec. you know what, i was going to go to commercial to see what's going on, but then we get the two-minute warning from the president saying he's coming in two minutes. i'm not going to go to commercial. >> jamie dimon on the fed board reminds us that the federal reserve is there to preserve the safety and soundness of banks, which is a good thing, except some p