says it was quite a barrier to him doing his job wasn't a fan of timothy geithner blood timothy geithner's response to some of barofsky claims the first your closing market numbers. for you. more like. to. point. my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit to me for my hands you know just as if anyone would. but they do tell a story they tell us story of. oxen. told stories of. before going global and now it's pulling fire. log in. to. choose your place change your stance. and needs to. make your statement. spread the word. cure blindfolds through a long. welcome back we're talking to the man whose job was to be the tarp watchdog protect against fraud hold banks accountable here is one criminal case where he was successful in getting it pursued to look the charges that have been filed against bentley farkas he is the former chairman of

here's later from tim geithner. he's writing to the person who's overseeing the fully governed enterprises fannie and freddie. now yofr seen by a guy named edward demarco who's run them as a guarantor would. he's saying you should do principle reductions. in view of the clear benefits, the use of reductions would have for home oerps. i urge you to reconsider this decision. five years in the housing crisis and the legacy of the crisis continues to weigh on the market. very true. you have the o power to help more homeowners and heal the remaining damage from the housing crisis. what changed? did he just read your book and even though he's mad at you, bro, he's decided to change his mind. >> those are the same words i advanced to treasury over and over again, not just in 2009 but 2010 and 2011. no, he hasn't. this is hypocrisy at its worst. oo they're still refusing to do it themselves in their own program, a recommendation i made back in 2010, one of those recommendations that tim geithner apparently forgot about when

well this was a program that was announced by secretary tim geithner secretary treasury in february of zero nine and you know the time i was of course responsible fighting oversight of the bailout and we sort of knew something was coming we heard a little some of the details but as we kept pressing within treasury to get some actual mechanics and details they kept putting us off putting us off putting us off and so those details emerged and it turned out it was originally intended to be a trillion dollar program that had that was so riddled with with opportunities in advantages for the giant investment funds the wall street funds that were going to run the program that it was that it was primarily based are lending tremendous amounts of taxpayer money leverage to multiple different government bailout programs that could have left it to be less than one or two percent of actual investor money the rest of it all provided by the taxpayer with very limited upside but all of the downside and there were so many conflicts of interest and opportunities for fraud built into this program that ul

will be the new treasury secretary geithner will move over as head of goldman sachs or something and when they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door another could link political banks to trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up again with the people in ohio and as cardigan sweater and golf club you know shaking hands hello i'm a normal birth and i'm not a an automatic blot program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join research ok so let's move on from there so jamie dimon said we scapegoat each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from enron global so let's move to another part of the heartland of america an important voting state nevada vegas billboard with suicide dummy hope you're hap

will be the new treasury secretary geithner will move over as head of goldman sachs or something and when they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door another political bank's third trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up of jamie with the people in ohio and as cardigan sweater and golf club you know shaking hands hello i'm a normal person i'm not a an automatic blah program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join research ok so let's move on from there so jamie dimon said we scapegoat each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from enron global so let's move to another part of the heartland of america an important voting state nevada vegas billboard with suicide dummy hope you're happy wall

was it tim geithner? was it rahm emmanuel? who shut you out from the president? >> i'll never know the answer to that question. i just know that that opportunity never arose. but look, you know, as my time in washington, as i was becoming more critical, i got messages from the treasury department. i was told clearly i was harming my future chances and my future career if i wouldn't change my tone and i got shot at by the white house. which put out misleading information. so when it comes to pushing back against the power of the banks it was a pretty much a unified front. >> neil barofsky, one of the few guys in washington that tried to fight for you. i appreciate you joining us on "the young turks." >> thank you. >> cenk: all right. now, we got so screwed. it businesses me off every single time. my blood boiling as he's talking. speaking of blood boiling 21-year-old kid gets handcuffed, his hands behind his back then gets shot in the head while in police custody and the cops say it was a suicide. are you kidding me? we're going to talk about that when we come bac

will be the new treasury secretary geithner will move over as head of goldman sachs or something and when they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door another political bank's third trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up of jamie with the people in ohio and as cardigan sweater and golf club you know shaking hands hello i'm a normal person i'm not a an automatic blah program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join resorted to ok so let's move on from there so jamie diamond said we skate go to each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from emma global so let's move to another part of the heartland of america an important voting state nevada vegas billboard with suicide dummy hope you're happ

will be the new treasury secretary geithner will move over as head of goldman sachs or something and when they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door another political bank's third trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up of jamie with the people in ohio as cardigan sweater and golf club you know shaking hands hello i'm a normal person i'm not a an automatic blah program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join three secretaries ok so let's move on from there so jamie diamond said we scapegoat each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from emma global so let's move to another part of the heartland of america an important voting state nevada vegas billboard with suicide dummy hope you're happ

he says it was quite a barrier to him doing his job wasn't a fan of timothy geithner blood timothy geithner's response to some of barofsky claims the first your closing market numbers. wealthy british signs on it's time to rise. markets why not. find out what's really happening to the global economy in terms of the war on our. welcome back we're talking to the man whose job is to be that car watchdog protect against fraud hold banks accountable here is one criminal case where he was successful in getting it pursued. the charges have been filed against illegally farkas he is the former chairman of t.v. w a private mortgage lender regulators a charging him with fraud and about a one point nine billion dollars scheme that eventually led to the downfall of colonial bank corp but he describes in his book how even though he had builder agents had built an airtight case d.o.j. was pushing back they didn't want to pursue it and they continued to as the d.o.j. print prosecutors continued to push back hard their timidity was frustrating i think that they just didn't have the confidence that comes from

but this goes well beyond tim geithner. my harshest criticisms of geithner were reporting what he said and did and what his treasury department said and did. that sort of spoke for itself as to what the choices were that made. >> jennifer: it is just so fascinating and neil barofsky, author of "bailout," pick it up and read it. appreciate you coming inside "the war room." up next, pennsylvania becomes the latest state to cut a safety net for the absolute poorest among us. i honestly don't know -- we're going to find out only on "the war room" on current tv. do not go away. ♪ we built this city! ♪ ♪ we built this city ♪ [ cellphone rings ] ♪ on rock & roll! ♪ falafel. yeah, yeah, i love you too. ♪ don't you remember! ♪ [ orbit trumpet plays ] don't let food hang around. clean it up with orbit! [ ding! ] fabulous! for a good clean feeling... after any meal. eat. drink. chew orbit. she's every 5-year-old who ever jumped in a pool and didn't want to get out. ♪ ♪ every coach, every rival who ever pushed her.

but this goes well beyond tim geithner. my harshest criticisms of geithner were reporting what he said and did and what his treasury department said and did. that sort of spoke for itself as to what the choices were that made. >> jennifer: it is just so fascinating and neil barofsky, author of "bailout," pick it up and read it. appreciate you coming inside "the war room." up next, pennsylvania becomes the latest state to cut a safety net for the absolute poorest among us. i honestly don't know -- we're going to find out only with lysol kitchen soap hands are healthy. with lysol kitchen soap, washing dishes is easy. with lysol kitchen soap surfaces are clean. hands. dishes. surfaces. the lysol no-touch kitchen system: the only all-in-one kitchen soap. try it for yourself. lysol. mission for health. 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, i

you know this is all politics because of course jamie dimon will be the new treasury secretary geithner will move over as head of goldman sachs or something and when they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door another political bank's third trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up of jamie with the people in ohio and as cardigan sweater and golf club you know shaking hands hello i'm a normal birth and i'm not a an automatic blah program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join research ok so let's move on from there so jamie dimon said we scapegoat each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from emma global so let's move to another part of the heartland of america an important voting state nevad

the mortgage backed securities and there really was an opportunity for that unfortunately secretary geithner you know flat out refused to implement a program and we sort of went round and round with him in the treasury department and instead they had this program which was which was just awful was riddled with conflicts of interest it really seemed to benefit the banks much more than homeowners and gave the banks really this tremendous opportunities. to really hurt homeowners but by racking up all sorts of fees and then pulling the rug out from home and throwing them into the foreclosure scrapheap real conflicts of interest built into the program and you know in two thousand and nine we're at a large oversight meeting with warren who is then had the congressional oversight panel was there and she was really grilling geithner on this program and how it was not fulfilling its original goal to help four million homeowners and his response was very telling because he defended the program by saying essentially look you know we these banks can only handle so much foreclosures over so many period o

you know this is all politics because of course jamie diamond will be the new treasury secretary geithner will move over as head of goldman sachs or something and they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door another political bank's third trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up of jamie with the people in ohio and as cardigan sweater and golf club you know shaking hands hello i'm a normal birth and i'm not a an automatic blah program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join us recently. ok so let's move on from there so jamie dimon said we scapegoat each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from emma global so let's move to another part of the heartland of america an important voting state nevada

it was almost perfect, secretary timothy geithner's reaction. was to pull out that fake outrage. lou: as he made clear, the people who should be outraged or the people watching and listening to you right now. we have a housing market that was on its back and has been in many cases on its knees for the last four years. yet the government did not move to help -- t.a.r.p., a million foreclosures for the average price of a house about $206,000. with $200 billion, we could have stalled the foreclosures. provided some support and help that could've avoided this void rather than taking on these massive banks. >> it was even worse because the people need to understand -- this was a choice. where we are now in the grips of an ongoing foreclosure crisis was a conscious decision by her government. when we confronted secretary geithner on this, this housing program that was supposed to help millions of people stay in their homes, his response when pressed on the failure of the program was to defend it and explain it was about, in his words, the runway to the bank. this is the one program tha

the mortgage backed securities and there really was an opportunity for that unfortunately secretary geithner you know flat out refused to implement a program and we sort of went round and round with him in the treasury department and instead they had this program which was which was just awful was riddled with conflicts of interest it really seemed to benefit the banks much more than homeowners and gave the banks really this tremendous opportunities. to really hurt homeowners by by racking up all sorts of fees and then pulling the rug out from home and throwing them into the foreclosure scrapheap real conflicts of interest built into the program and you know in two thousand and nine we're at a large oversight meeting with warren who is then had the congressional oversight panel was there and she was really grilling geithner on this program and how it was not fulfilling its original goal to help four million homeowners and his response was very telling because he defended the program by saying essentially look you know we these banks can only handle so much foreclosures over so many period of

it was almost perfect, secretary timothy geithner's reaction. was to pull out that fake outrage. lou: as he made clear, the people who should be outraged or the people watching and listening to you right now. we have a housing market that was on its back and has been in many cases on its knees for the last four years. yet the government did not move to help -- t.a.r.p., a million foreclosures for the average price of a house about $206,000. with $200 billion, we could have stalled the foreclosures. provided some support and help that could've avoided this void rather than taking on these massive banks. >> it was even worse because the people need to understand -- this was a choice. where we are now in the grips of an ongoing foreclosure crisis was a conscious decision by her government. when we confronted secretary geithner on this, this housing program that was supposed to help millions of people stay in their homes, his response when pressed on the failure of the program was to defend it and explain it was about, in his words, the runway to the bank. this is the one program tha

instead that program too was more about helping preserve the banks and tim geithner's word to foam the runway for them to help protect them during the financial crisis. >> okay. we had this big pot of money and blew the opportunity then to help homeowners. looking at it now, it's the summer of 2012. what do you think can realistically be done? can anything be done top provide real relief to homeowners right now? >> it's an interesting hypothetical question but almost rhetorical. because the administration had this opportunity under t.a.r.p., they had hundreds, literally hundreds of billions available to help struggling homeowners and chose not to use the money. even of the $50 billion allocated, less than $4 billion has been spent to date. the question of what we can do is completely divorced of what is going to happen. they made that decision already. and now, having basically walked away from those hundreds of billions of dollars, of course the options are more limited. there can be some sort of principal reduction through fannie mae and freddie mac if they can persuade that regulato

ryan heard testimony from timothy geithner and debated the 2013 budget request. this portion is about an hour and a half. 10 >> hearing will come to order. welcome everyone to this important hearing and i would like to thank secretary geithner for joining us. this is your second hearing today and fourth this week. so you are halfway there. >> this is no plan to grow the economy and no plan to save us from a debt-fueled crisis which will be an economic disaster. why is the president giving us more broken promises instead of leadership,. the where agreement is possible and we would like to think there is some of that why have we seen the president turn his back on the bipartisan solutions that are out there. why has he is dividing americans. after house republicans put forward a serious solution in our budget last year the president had an opportunity to advance plans for meeting our challenges, to advance alternatives tom then compromise. and if there is a growing bipartisan consensus for the reforms that are needed, there is a consensus on issues like entitlement

geithner says the challenge for european leaders is how to sell the fixes to their voters. >>> and it may be crowded outside chick-fil-a today. thousands of people plan to demonstrate their support of comments made by the chain's ceo opposing same-sex marriage. protests by the other side are scheduled for friday. chick-fil-a says it does does not discriminate either in hiring or who it serves. >>> facebook shares are at a new low. 43% below their initial price. and ubs says it lost more than $500 million on facebook because of, quote, the gross mishandling of facebook's debut by the nasdaq exchange. ubs plans to sue nasdaq which has put aside only 62 million bucks to compensate customers who lost money. >>> and tickets for a canceled rock concert will be honored, 33 years later. the 1979 performance by the who in providence, rhode island, was cancelled because of safety concerns after a fatal concert stampede in another city. anyone who has providence tickets can trade them in for the band's concert this february. the tickets originally cost $11.50. >> can you imagine these days? a co

geithner says the challenge for european leaders is how to sell the fixes to their voters. >>> and it may be a little crowded outside chick-fil-a restaurants today. thousands of people plan to demonstrate their support of comments made by the chain's ceo opposing same-sex marriage. protests by the other side are scheduled for friday. chick-fil-a says it does not discriminate, either in hiring or who it serves. >>> facebook shares are at a new low. some 43% below their initial price. and major investment bank, ubs, says it lost more than $500 million on facebook because of, quote, the gross mishandling of facebook's debut by the nasdaq exchange. ubs now plans to sue nasdaq, which has put aside only 62 million bucks to compensate customers who lost money. >>> and tickets for a canceled rock concert will be honored, 33 years later. the 1979 performance by the who in providence, rhode island, was cancelled because of safety concerns after a fatal concert stampede in another city. anyone who still has providence tickets can trade them in for the band's concert this february. the tickets or

we have janet napolitano, eric holder, tim geithner. this is the failed administration that they're rolling out. really? they're about to get headhunters for new jobs. >> if your rallying cry is for daddy to buy you more pills, don't you forfeit the right to be a feminist? >> yes. we talked about this many times. they're supposed to be strong, independent women. all of a sudden, when there's a $9 birth control pill, help me. i need man to help me and it has to be obama. >> what were they waiting for. >> they're waiting for the republicans to play theirs out. i think, by the way, i still want to stand firmly in favor of birth control. >> this has nothing to do with birth control. >> i was making a joke. i'm sorry. >> all right. >> i was making a joke. >> it's going to be held in north carolina. this is a state -- hold on, bob -- that you even said democrats will not likely win. >> not one of them ever wins if they're a marginal state. >> he got it last time. not a good sign. >>> coming up, princess diana died 15 years ago today and the w

>>eric: was geithner giving her a scolding? in the quite. and now, rich, what was that about? >>reporter: well, we will find out exactly what happens with the tax rates some time after the election. talked to a person familiar with this meeting and that person said treasury secretary geithner and senator murray talked about general fiscal issues. they were not focused only on the fiscal cliff. but there is speculation out there, according to one report, that, perhaps, the treasury secretary was asking the senator to pull her her position on taxes, a person familiar with the talks said. that is not accurate. at the white house this afternoon, president obama was talking fiscal cliff and taxes and charged republicans for threatening the economy. >> on wednesday, they voted to hold the middle class tax cuts hostage unless we also spent $1 trillion over the next decade on tax breaks for the wealthiest 2 percent of americans. in fact, it is worse than that because their plan would raise taxes on 25 million hard-working american families by about $1,000 each. would report the respon

treasury secretary geithner proclaiming the recovery was here. two days later, anything but. >> welcome, everyone, i am here for neil cavuto this is "your world." does this sound like a recovery to you in reports out today showing factory orders falling in june, the third drop in four months. first time jobless claims spiking by 8,000 in the latest week. and job creation index slipping for the first time in three months. it doesn'tnd there. g.m., which geithner touted as part of the recover i seeing profits plunge 41 percent over weakness in europe. kelloggs hit by higher commodity prices and trouble over seas and prices are dropping. stocks are getting hammered with the dow down four days in a row. down 90 today. and former u.b.s. chairman says worry about another double dip recession. >>guest: there is frye chance that could happen. it is happening in europe. some of the slow down and corporate earnings is because we have about 30 percent of our profits coming from outside the united states and we are not impervious. >>eric: g.m. numbers were b

treasury secretary geithner proclaiming the recovery was here. two days later, anything but. >> welcome, everyone, i am here for neil cavuto this is "your world." does this sound like a recovery to you in reports out today showing factory orders falling in june, the third drop in four months. first time jobless claims spiking by 8,000 in the latest week. and job creation index slipping for the first time in three months. it doesn'tnd there. g.m., which geithner touted as part of the recover i seeing profits plunge 41 percent over weakness in europe. kelloggs hit by higher commodity prices and trouble over seas and prices are dropping. stocks are getting hammered with the dow down four days in a row. down 90 today. and former u.b.s. chairman says worry about another double dip recession. >>guest: there is frye chance that could happen. it is happening in europe. some of the slow down and corporate earnings is because we have about 30 percent of our profits coming from outside the united states and we are not impervious. >>eric: g.m. numbers were b

where is the tim geithner thing you are talking about? >> daily caller. >> bob: what was it? >> he did it to nonunion workers. >> delphi. >> andrea: they are talking about it all day on the network. so are we to deduce because they are not getting pensions they could starve and die? >> bob: shaking my head because this steel plant, bain came in and load it up with debt and paid the investors and managers. the company went under and they lost their healthcare. >> eric: the price of steel plummeted in that period of time. if anything, when bain came in they saved the company for eight years. the company was doa when they came on. >> bob: can i ask you a question? >> eric: there is something important about the add, though. mr. butler was a press secretary for obama. he runs priorities usa. they're not supposed to, not supposed to but not allowed to coordinate with the obama administration. the same guy in the ad was the guy that obama administration put up in may. same guy. that sounds like coordination. >> bob: same guy that worked for romney and the last time around and worke

but undersecretary geithner who has been the champion or, if you will, the master of this for a long time, well over a year, the process has been relatively opaque as to which banks that money and why they get money and who guided and what the provisions would be in providing those funds. for instance, if you're going to put money in a bank that saves it, the shareholders should have been virtually wiped out. the government has to step in to bail them out widish shareholders get to keep the majority ownership? they should have had to pay very dearly for the government having to come in and rescue and enterprise. when the government came in the taxpayers should have been a pretty healthy state, is not a majority stake. so i have a number of criticisms of how the plan was implemented, but was it need to keep our financial system from collapsing? yes. in those people who today go back and say, oh, it's terrible you bailout wall street. i did not hear a lot of those voices at the time we tell we were going over the cliff. the benefit of hindsight now that we have come back from the cliff

geithner never tried to save people's homes. neil: i don't think he should have bothered. we go back aways. i was not for the bank rescues, i am not for the any recuse, it distorts the market, and drags out the inevitable. any money you spend, they have to be bailed out and rescued. stop writing the check, by the way we don't have the money to write the chick, so stop it. >> picking winners and losers is one thing, but helping to keep people in their homes is another. neil: where do you draw the line? you need a litmus test to keep them in their jobs, people look to the government to fix anything that goes wrong. >> neil, we create jobs, i am not talking about give aways, give the american people a chance to keep their homes -- >> congressman, i tell you, every time we have done so we made it worse. you are arguing if we double down, triple down -- >> i'm not talking about throwing money at a problem. we need to help keep people in their homes. neil: we did, we tried half a mortgage rework programs to about $450 million, make it billions but that argues that more money is

tim geithner criticized the position and is asking him to reconsider. bryson wireless agreed to pay a the fcc.1 million to they say the company blocked allowed them to use the smartphones as hot spots. not sure how captivated you are by the olympics, but it is costing companies hundreds of millions of dollars in lost productivity. that, coming up. for now, that is it, live at bloomberg headquarters. thanks. the preliminary news this time the day. not so much. if you measure how much is lost -- how about the inspiration that comes from watching the olympics? >> it is 72 degrees outside this morning. come -- we have an on a former d.c. council [ female announcer ] with swiffer wet cleaning better doesn't have to take lolonge. i'm done. i'm gonna...use these. ♪ give me just a little more time ♪ [ female announcer ] unlike mops, swiffer can maneuver into tight spaces and its wet mopping cloths can clean better in half the time. mom? ♪ ahhhh! ahhhh! no it's mommy! [ female announcer ] swiffer. better clean in half the time. or your money bac ♪ >> i a

ryan heard testimony from timothy geithner and debated the 2013 budget request. this portion is about an hour and a half. 10 >> hearing will come to order. welcome everyone to this important hearing and i would like to thank secretary geithner for joining us. this is your second hearing today and fourth this week. so you are halfway there. >> this is no plan to grow the economy and no plan to save us from a debt-fueled crisis which will be an economic disaster. why is the president giving us more broken promises instead of leadership,. the where agreement is possible and we would like to think there is some of that why have we seen the president turn his back on the bipartisan solutions that are out there. why has he is dividing americans. after house republicans put forward a serious solution in our budget last year, the president had an opportunity to advance plans for meeting our challenges, to advance alternatives tom then compromise. and if there is a growing bipartisan consensus for the reforms that are needed, there is a consensus on issues like entitlemen

two years after secretary geithner all but declared victory, g.d.p. growth is still at an anemic 1.5%. foreclosures are still quite common. more americans than ever are on food stamps. and two years after secretary geithner welcomed americans to the recovery, more americans are signing up for disability than finding jobs. more americans are signing up for disability than are finding jobs. all of this after the president and a democrat-led congress passed his major policy initiatives. now, in the face of all these things, you would think the administration would change course, go in a different direction. after all, if it claimed credit then for what it thought was a recovery, it would have to claim credit for what it -- what we actually see now. not exactly apparent. as it turns out, the administration is happy to claim credit when it thinks things are going well, but even happier to cast blame when it thinks things aren't going well. two years after touting the impact the president's policies were having on our economy, the administration now acts as

have you the obama administration and ultimately geithner, to falls at his feet, the treasury department guiding along this process and they should in the be involved in this at all. >>stuart: it was a politicized decision. push out management people from the pensions, support the union people, make them whole. a very strongly political decision. >>guest: correct. it certainly looks that way. we are still awaiting answers. the administration has insisted in congressional testimony they had no hand in this, this was all pgbc but the e-mails now show there is potential that some of the officials may have purgered themselves, it is in the cheer. we are looking for more answers. but this is suddenly a big deal. >>stuart: we hear you loud and clear. thanks, vince. the internal e-mails imply treasury was the reason for ending nonion pensions. what about this from former treasury official, under oath, he said otherwise. >> as a result of the delphi corporation, they and the pension benefit guarantee corporation were forced to terminate their pension plans so the retirees who will collect less t

have you the obama administration and ultimately geithner, to falls at his feet, the treasury department guiding along this process and they should in the be involved in this at all. >>stuart: it was a politicized decision. push out management people from the pensions, support the union people, make them whole. a very strongly political decision. >>guest: correct. it certainly looks that way. we are still awaiting answers. the administration has insisted in congressional testimony they had no hand in this, this was all pgbc but the e-mails now show there is potential that some of the officials may have purgered themselves, it is in the cheer. we are looking for more answers. but this is suddenly a big deal. >>stuart: we hear you loud and clear. thanks, vince. the internal e-mails imply treasury was the reason for ending nonunion pensions. what about this from former treasury official, under oath, he said otherwise. >> as a result of the delphi corporation, they and the pension benefit guarantee corporation were forced to terminate their pension plans so the retirees who will collect less

the white house with meetings with secretary of state hillary clinton and treasury secretary timothy geithner. that while mitt romney heads to south carolina, and his running mate will be in ohio. we're live in washington. i'm claire leka. >>> elsewhere a judge in pennsylvania has decided not to block a new state law restricting specific kinds of 50id fi indication to vote. opponents of the voter i.d. law says it will prevent a million registered voters from casting their ballots in the fall. they say they will appeal to the state supreme court to try to stop it before the november election. voter turnout could play a crucial role in what may be a tight race between president obama and mitt romney in pennsylvania. >>> well, thousands of young undocumented immigrants have started applying for the right to legally stay and work in the u.s. the government is now accepting the applications for the new obama administration program for deferred action, a two-year reprieve from any threat of deportation. it would give them work permits but not legal residency or a path to citizenship. meanwhile ariz

medicare is going bankrupt according to tim geithner and the whole slew of other democrats that can't avoid saying that. but what a voucher program does is that it cuts out government workers. highly pensioned and well-compensated government workers and gives you the voucher to go spend it and look over your medical bill. we're just talking about how, you know people who dealt with someone in the hospital, check the bill. you'll see a $50 bill for kleenex. right now consumer doesn't care because the government is paying. when the consumer cares medical costs are going to come down ask care is going to improve. >> sean: i never thought it's possible but i think that ann coulter loves someone more than governor krifty. i think it's paul ryan. it's amazing. we made history. >> good to see you. he's the best for the position. >> sean: still ahead, the first obama. do you know what the president intends to do with the country if he wins four more years? the answer may lie in his so called gas. >> if you've got a business, you didn't build that. >> private sector is doing fine. >> someone a

two years ago today, the treasury secretary, tim geithner wrote an article in the times, saying welcome to the recovery and said, we are coming back. but since then that, kickoff two years ago, the president and his team haven't done anything to lower unemployment. instead, they have increased the national debt to almost $16 trillion. tonight w96 days until election day, we revisit this imaginary recovery summer. joining us, the co-host of "the five," eric bolling and a democratic strategist. good to sigh you. i do remember this recovery summer two, summers ago. things have gotten worse. the economy has slowed down to basically zero growth. joe biden was claiming 500,000 jobs every month created. what happened? how could they get it so wrong? >> g.d.p.'s up, 4.4 million jobs created under this president. >> sean: g%, dp is up, what? >> nearly 10%. 4.4 million jobs? >> what are you talking about? i have no idea what you are talking about. >> 28 straight months of job growth-- >>> stop a second. we have fewer americans working today. just under a million fewer americans working than when

i was researching and magazine article on timothy geithner and found an old photo that i thought might be an illustration of the peace that should the chairman of the federal reserve alan greenspan posing in the white house with gerald ford and three of the people. greenspan had just been sworn into his first council of economic advisers. standing next to alan greenspan was a woman of 70. i had seen her around, younger but no less imperious but always with a short hair cut. in her televised appearances she spoke with a russian accent and always precise form in her words carefully as if she had written them down before hand. ayn rand was a figure from yesterday. never had any reason to write about her. in many -- many years covering wall street she was always on someone else's beach. inhabited a vague intersection of literature, philosophy legal economics and politics. my focus -- her series had no relevance. i was wrong. to make matters worse i was worse -- wrong for a long time. looking at that photo in 2009 realized rand provided the missing piece of a puzzle i had never thought abou