but can we call them a cartel our guest tonight william cohen just does just excuse me does just that advise of a time when the u.s. government actually sued the banks then the supreme court has ruled uphold the ban on foreign spending in u.s. elections some liberals out there are cheering at the news but are they for getting a little something that is united has already made it impossible for us to tell where the money is coming from jake brewer is going to join us to hash it out and get all that morphine i couldn't get out of happy hour but first take a look at the mainstream media has decided to miss. well if it's tuesday then there must be of all going on somewhere right that's definitely going to be a case in this election year and with the republican primaries underway it's going to be all the mainstream media obsesses over every single tuesday from here on out super tuesday and the voters in new hampshire are heading to the polls the final fight for the g.o.p. in new hampshire a live look here at the londonderry new hampshire voting place elections officials predicting a big tu

william cohen, to you first. these earl yes reports that bonuses are dropping, how widespread is this? and why do you think it's happening? >> well, i think it's very widespread, judy. when you have an industry leader like morgan stanley capping out their what seems to most people like a lot of money but to wall street types unfortunately not, capping out their cash pay at $125,000, that becomes an industry standard and the kind of benchmark that other people hit because, as we well know, the industry uses consultants to measure what everyone else is doing and doesn't want to be seen as paying too much more or too much littler than everybody else. this is happening because revenues are down on wall street, profits are down on wall street. we're entering into a new paradigm shift on wall street. this is one of the fallouts from that. >> woodruff: brian foley, why do you think it's coming down? >> well, i would say first it's all about revenues and net prove is. those are both down dramatically. when they're down,

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william cohen knows how dangerous iran can be. good to see you. it does appear, we've been talking about this a lot over the last few month, but this has escalated. is that a fair interpretation? >> i think it has escalated and we have to be careful that the rhetoric doesn't turn to action. we need to avoid a conflict if possible. the iranian are now starting to feel the bite of the sanctions. you had the e.u. on the verge of declaring tougher u sanctions and boycotting oil from iran, so this is really starting to hurt the iranian economy and as a result of that, the tensions within iran are starting to ratchet up and therefore, they start to make declaration they're going to shut down the straits of hormuz, which would if they're successful, cut off the supply of 20 to 30% of the world's oil supply. so i think after the rhetoric ought to be cooled a bit and they ought to understand that the united states and other countries are going to intensify these sanctions until iran understands it has an option. the option is to give up its nuclear weapons

tonight and that's it for tonight's show thanks for tuning in and make sure to come back tomorrow william cohen former investment banker and author of money and power goldman sachs came to rule the world is going to be on the show he's going to discuss how he says wall street turned a crisis in the cartel and meantime don't forget to become a fan of the lower show on facebook and follow us on twitter there's anything you missed tonight or any other night you can always catch the dalai lama flash heal michelle and coming up next. this is art. to reclaim the american dream and reaffirm that fundamental truth that out of many we are one that won't we breathe we hope. to me the american dream is to live in peace and prosperity and freedom and a government under socialism is not a government of free. you . have very motivated out for us the country who are activists who are willing to fight for what they think is rights for themselves but the fact is forty four bridge. we are counting. property counting and i think it's spread by it's cutting off our. it's making the marker see. all but impossible.

former secretary of defense william cohen joined me earlier and i asked him about what the rising tensionsy lead to. >> i think it has escalated and we have to be careful that the rhetoric doesn't turn to action. we need to avoid a conflict if possible. part of the difficulty is the iranians are starting to feel the bite of the sanctions. you had the e.u. on the verge of declaring tougher u sanctions and boycotting oil from iran, so this is really starting to hurt the iranian economy and as a result of that, the tensions within iran are starting to ratchet up and therefore, they start to make declaration they're going to shut down the straits of hormuz, which would if they're successful, cut off the supply of 20 to 30% of the world's oil supply. so i think after the rhetoric ought to be cooled a bit and they ought to understand that the united states and other countries are going to intensify these sanctions until iran understands it has an option. the option is to give up its nuclear weapons program and then be welcomed back into the international community. but absent that, i think sanct

. >> william cohen, to the point, as ever. much. >> thank you, martin. >> we'll be right back to clear the air. ♪ he was a 21st century global nomad ♪ ♪ home was an airport lounge and an ipad ♪ ♪ made sure his credit score did not go bad ♪ ♪ with a free-credit-score-dot-com ♪ ♪ app that he had ♪ downloaded it in the himalayas ♪ ♪ while meditating like a true playa ♪ ♪ now when he's surfing down in chile'a ♪ ♪ he can see when his score is in danger ♪ ♪ if you're a mobile type on the go ♪ ♪ i suggest you take a tip from my bro ♪ ♪ and download the app that lets you know ♪ ♪ at free-credit-score-dot-com now let's go. ♪ vo: offer applies with enrollment in freecreditscore.com™. >>> it's time now to clear the air. and despite every one of his protestations to the contrary, some of the finest political minds in this country are counting down the minutes, fully expected the newton bomb to explode this coming weekend. david corn, the esteemed washington bureau chief of "mother jones" magazine has said it better than anybody else. "in

>> joining us william cohen, a former banker and author of "money and power, how goldman sachs came tod." bill, as this campaign goes forward, we seem to have a continuing revelation with mitt romney. we hear him talking about being unemployed as a joke last year in a cafe. we then have him talking about earning $375,000 a year for speeches and saying, and i'm quoting him, not very much. is mitt romney's biggest problem mitt romney? >> martin, i think that's very, very well said. he's got to be the most tone deaf politician to come down the pike since george w. bush and he seems to be cut from the very same cloth. father a career, very successful politician, pra tri-- pa trishi born. it's astounding how he can be so out of touch with the common man and still be a politician. it's really -- even the republican base cannot be appreciating what he's saying right now. >> why is he reluctant to release his tax returns? >> well, there are all sorts of theories. you know, my favorite one is going around is maybe he hasn't fully tithed to the mormon church. you know, the 10% that he's required

their behavior the first one cor is aion another victim of the alpha male curse this is from william d. cohen.

williams, please. >> [inaudible] supervisor cohen: ms. williams, your turn. >> good afternoon. four years ago, i went to the bayview child health center to interview for a job. i am an american family therapist, and i went there to interview for a job of case manager. not knowing whether i would be hired or not, i was so impressed by the work that was it described in what they were doing. i was hired. i spent almost 17 years working with the city and county of the san francisco human service agency as a child welfare worker and then a supervisor. what i became aware of when i went to the bayview clinic to work is we are all serving the same children. what that clinic was doing for the children in that area was phenomenal. in that they were addressing issues that are not addressed in most most pediatric clinics. most pediatric clinics would not have mental health or any of those services that have been described to you. i agree with what ms. albright and the doctor were saying to you. the building that we are talking about is the same building where so turner truth -- so turner

their behavior the first one cor is aion another victim of the alpha male curse this is from william d. cohen of bloomberg and he says for years i have wondered why for.

happy response from the chinese defense ministry but on top of that where you have a great guest william d. cohen who looks at wall street the banks and you know we constantly hear these days about how much power they have but he goes as far as to call them a cartel and as well yesterday there was a supreme court ruling that upheld the ban on foreign nationals. ending in u.s. elections a lot of people out there are really excited as they think of this isn't kind of a victory for campaign finance reform but if you think about it citizens united has already changed the entire playing field and you know brought it to the point where you cannot control what money goes in and out and that's all of it certainly is nice to hear a lot more than just primaries so that is something to look forward to that is coming up next and that is going to do it for the news from one of the stories we covered go to our to dot com slash usa you can also check out our youtube page it's youtube dot com slash artsy america you can also follow me on twitter at liz wahl and we'll see you right back here at seven.

their behavior the first one cor is aion another victim of the alpha male curse this is from william d. cohen of bloomberg and he says for years i have wondered why for some people enough is a never enough for example what could have possibly motivated john core sign a respect.

their behavior the first one cor is aion another victim of the alpha male curse this is from william d. cohen of bloomberg and he says for years i have wondered why for some people enough is a never enough for example what could have possibly motivated john core sign a respected former senator governor and wall street big shot with hundreds of millions in the bank to take the top job at m.f. global holdings in the first place it was a thankless task he said but he's an alpha male and that's why he's done what he's done ok so let me get this straight there excusing course on his crimes let's be clear about this there are crimes because he's an alpha male correct so this is this is john corazon story the kahaani defense yes those different frank quattrone defense remember he got off because his crimes are too complicated for a jury to understand so he is free by virtue of complication of his crimes here to go oh mr fence that's correct you know how many women in the u.s. have successfully argued that pre-menstrual they p.m.s. defense for murder so here is his defense is he's got a big hole unea

secretary of defense, william cohen. i'm curious, mr.feel that these changes would in any way impact the safety of americans here at home and abroad? that seems to be the concern from americans as they hear the word cuts. >> well, first we should point out that this i think is the first time that the president of the united states has gone to the pentagon to announce a change in strategy. normally you would expect the secretary of defense and the chairman of the joint chiefs representing our uniform military to make a recommendation to the president and then have the president review it and then endorse it. it looks as if the president is very clear on this. this is going to be his policy that he's announcing as the commander in chief. so that's something of a first in my experience at least. secondly, by articulating a change in strategy to basically a one-war strategy and a win so called hold that will be controversial. the question will become if we were to be engaged in a conflict, let's say with iran, which i hope doesn't take place

cohen: thank you. did you fill out a speaker card? the court can give you one. cynthia, neo, linda, and danielle. cynthia williams, you are up.

up here with malia cohen, who is going to create many, many new stories to come along with all of san francisco and the other supervisors up here and the oop leaders and al williamsg very important work to document the contributions so that we can justify why we need to make a special effort to make sure that there is no outmigration, to make sure that there are jobs. to make sure we protect the family structure. because from my heart and where i come from and what my family is all about, i know what it is to be helped by the african-american community. i know that that's been a strong tring and -- thing and we wouldn't have survived without that kind of kep -- help. so i leave you here today to let you know what's in my heart and mind and let's kick off this celebration to unite everybody in this city and be broud -- proud of

up here with malia cohen, who is going to create many, many new stories to come along with all of san francisco and the other supervisors up here and the oop leaders and al williamshe historical society who are doing very important work to document the contributions so that we can justify why we need to make a special effort to make sure that there is no outmigration, to make sure that there are jobs. to make sure we protect the family structure. because from my heart and where i come from and what my family is all about, i know what it is to be helped by the african-american community. i know that that's been a strong tring and -- thing and we wouldn't have survived without that kind of kep -- help. so i leave you here today to let you know what's in my heart and mind and let's kick off this celebration to unite everybody in this city and be broud -- proud of who we are, and thank you very much. >> thank you, mayor lee. we are about to bring up our keynote speaker. but i did want to mention we also have with us david campos who's joined us. let's welcome supervisor camp ovements and dr. veronica hunnicutt is here also the so with that we're at the point where we