important part of tarp. does not get through congress but for the promise to help hundreds and hundreds of struggling homeowners, and tarp has failed in those aspects. >> tom: is that the heart of the double standard you talk about in the book? >> yes. it was a remarkable thing. at every juncture, the focus with the treasury it deferred to and chose the interest of the large wall street banks. so even the housing program, there was one that was announced. it's pitiful what it has done. and even that one after it started to come off the ground and apparent it was a struggling program wh. we confronted secretary gietener he confessed the program was about solving the banks is the language he used. it was going to extend out the foreclosure crisis so the full flush of foreclosures wouldn't hit the bank, and explain how we had a program that was good for the banks and enabilityed them to rack up fees and other things for the services arm, but was a disaster for homeowners, in some cases causing them more harm th

revisiting two previous conversations with great minds one with former special inspector general for tarp neil barofsky and one with g.m.o. expert jeffrey smith and we're going to begin tonight with the conversation tom had with neil barofsky just a few days ago on thursday the federal reserve sold off its last remaining shares in troubled insurance giant. you might remember in two thousand and eight to bring down the entire economy so was bailed out with one hundred eighty two billion dollars in taxpayer money as part of the tarp program well today fed officials are calling the move a huge success saying taxpayers earn nearly eighteen billion dollars off the rescue but it's an irresponsible bank or insurance giant benchmark of success neil barofsky would say no and in this conversation he explained why tarp was alternately a failure that did nothing to address the ongoing housing crisis and nothing to put an end to too big to fail on wall street so here it is tom's conversations with great minds with neil barofsky. joining me tonight for a special edition of conversations of the great mi

getting a slap on the hand for messing up i could go on but we'll talk about all of this with former tarp cop neil barofsky who is out with a new book bailout and while we're on it bloomberg reports russell wason board senior the c.e.o. of the bankrupt firm peregrine financial group was indicted on thirty one counts of making false statements to regulators will ask neil barofsky if sans suicide no confession there are legitimate criminal cases that could be built around executives at major firms too big to fail firms surrounding the financial crisis and its aftermath and i should mention for our futures and commodity trading viewers barofsky prosecuted the c.e.o. and president of russia that's a real hooker there and finally since we're talking being locked up we'll tell you about the apple of the u.s. prison systems turns out they found a captive audience let's get to today's capital account. all right it's been a few years but i'll tell you on any given day we can see the legacy of the financial crisis and its response from the government in the news it is the legacy taxpayers are still

here's what's coming up tonight on the big picture in two thousand and eight we were all told that tarp was needed to prevent a great depression instead tarp funds have made the big banks richer and given them an even greater feeling of invincibility so at this half of last deal barofsky special edition. of the great also want to understand just how far right and radical the republican party has become its really official republican party platform more on that and tonight's lone liberal rumble and if you are eating something that could kill you when you want to know before you put in your mouth the g.m.o. industry does not want you know it so what secrets are they hiding explain more so i still take. joining me tonight for a special edition of conversations with a great minds as neil barofsky you know was the former special united states treasury department inspector general charged with overseeing the seven hundred billion dollars tarp bailout prior to coming to washington neil was a former united states assistant attorney for the southern district of new york here and a bachelor's deg

here's what's coming up tonight on the big picture in two thousand and eight we were all told that tarp was needed to prevent a great depression instead tarp funds have made the big banks richer and given them an even greater feeling of invincibility so this happened last bill barofsky special edition. of the great also want to understand just how far right and radical the republican party has become its really official republican party platform more on that in tonight's lone liberal rumble and if you are eating something that could kill you when you want to know before you put in your mouth the g.m.o. industry does not want you know what so what secrets are they hiding explain more insights to take. joining me tonight for a special edition of conversations with a great minds as neil barofsky you know was the former special united states treasury department inspector general charged with overseeing the seven hundred billion dollars tarp bailout prior to coming to washington neil was a former united states assistant attorney for the southern district of new york here and a bachelor's deg

getting a slap on the hand for messing up i could go on but we'll talk about all of this with former tarp cop neil barofsky who is out with a new book bailout and while we're on it bloomberg reports russell wasin board senior the c.e.o. of the bankrupt firm peregrine financial group was indicted on thirty one counts of making false statements to regulators will ask neil barofsky if sans suicide no confession there are legitimate criminal cases that could be built around executives at major firms too big to fail firms surrounding the financial crisis and its aftermath and i should mention for our futures and commodity trading viewers ferocity prosecuted the c.e.o. and president of russia that's a real hooker there and finally since we're talking being locked up we'll tell you about the apple of the u.s. prison systems turns out they found a captive audience let's get to today's capital account. all right it's been a few years but i'll tell you on any given day we can see the legacy of the financial crisis and its response from the government in the news it is the legacy taxpayers are still

and earlier in two thousand and eight i was actually started up a mortgage fraud unit and after the tarp bill passed in the included this brand new oversight agency this new law enforcement agency really called said tarp the white house put out a request of the different prosecutor's offices for recommendations and might the u.s. attorney at the time mike garcia basically called me into his office and convinced me that i should put in for it an issue i really wasn't interested in entering into the the murky world of washington but he really gave me what he called the time is god and country speech and sort of pointed out that we were in the economic equivalent of a nine eleven call them you to sort of use the experience i had again to try to be a watchdog to help avoid the potential fraud that would definitely be protect the potential for huge amounts of fraud in a seven hundred billion dollars sure you know it's quite remarkable the bush administration one of their hallmarks is probably too strong a word but was too high or partisan i mean right down to the fact right down to the point

because of his disastrous oversight of the tarp program. because of its failure to meet the main street goals that should have been just as important and just as much of a priority to their ferocious commitment to preserve their status quo at all costs. so it is not so much as his coziness but what he's done in the job he's done which has been a real failure for the american people. 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. han

because of his disastrous oversight of the tarp program. because of its failure to meet the main street goals that should have been just as important and just as much of a priority to their ferocious commitment to preserve their status quo at all costs. so it is not so muc his coziness but what he's done in the job he's done which has been a real failure for the american people. 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!

i mean tarp, is still, treasury itself is projecting i think about $70 billion in tarp losses. >> reporter: in fact, treasury is projectg is projecting that tarp will $60 cllion,bi mainly for programs to help struggling homeowners it says. as for the $245 billion of tarp funds spent on banks, treasury$6 secretary tim geithner insists they've already turned a profit. >> right now, it is $20 billion we earned for the taxpayers, very carefully designed. >> $20 billion that is the interest on the money. >> on the bank investments. most of it is back in the treasury. >> reporter: on charlie rose last week, geithner disputed barofskys main claim as well, that treasury put wall street before main street. >> of course, our job was to protect main street, the economy, the average american from the failures in the failing financial system. that's what we did and that is a just and necessary thing. to have let it burn would have been much more damaging to main street, the average american than what we did. look at what europe is going through now. and ask yourself: can you find an example of somethin

i mean tarp, is still, treasury itself is projecting i think about $70 billion in tarp losses. >> reporter: in fact, treasury is projecting that tarp will ultimately cost $60 billion, mainly for programs to help struggling homeowners it says. as for the $245 billion of tarp funds spent on banks, treasury secretary tim geithner insists they've already turned a profit. >> right now, it is $20 billion we earned for the taxpayers, very carefully designed. >> $20 billion that is the interest on the money. >> on the bank investments. most of it is back in the treasury. >> reporter: on charlie rose last week, geithner disputed barofskys main claim as well, that treasury put wall street before main street. >> of course, our job was to protect main street, the economy, the average american from the failures in the failing financial system. that's what we did and that is a just and necessary thing. to have let it burn would have been much more damaging to main street, the average american than what we did. look at what europe is going through now. and ask yourself: can you find an example of somethi

i mean tarp, is still, treasury itself is projecting i think about $70 billion in tarp losses. >> reporter: in fact, treasury is projecting that tarp will ultimately cost $60 billion, mainly for programs to help struggling homeowners it says. as for the $245 billion of tarp funds spent on banks, treasury secretary tim geithner insists they've already turned a profit. >> right now, it is $20 billion we earned for the taxpayers, very carefully designed. >> $20 billion that is the interest on the money. >> on the bank investments. most of it is back in the treasu. >> reporter: on charlie rose last week, geithner disputed barofskys main claim as well, that treasury put wall street before main street. >> of course, our job was to protect main street, the economy, the average american from the failures in the failing financial system. that's what we did and that is a just and necessary thing. to have let it burn would have been much more damaging to main street, the average american than what we did. look at what europe is going through now. and ask yourself: can you find an example of something

and the president he's been involved in these cases he goes to washington he's overseeing tarp and they build a case around a guy who is committing fraud they have an airtight case or at least he says their agents did and the d.o.j. was afraid to push forward with it and and his read was that they weren't they were uncomfortable with with going after such a high profile case and maybe had had as much experience doing that i mean i guess someone i brought he was used to that when he was working for the prosecutor's office but that very fact if that is the case should be concerning a forward if our that's our d.o.j. prosecutors are so wimpy but one of the things that he did point out is he thinks that there is an experience gap these are sophisticated white collar crimes they do require a knowledge of sophisticated issues and he said that he believes there may be somewhat of an experience gap he talked about moving resources away from an area like this to an area like counterterrorism so there may be an experience gap i don't know that's that's certainly his speculation or assessment in.

he's the special tarp inspector general for tarp. that means the guy who is going to look out for us. he did and you know what he found out? from being inside the government and look at all of the numbers the bankers are screwing us. >> we need to break up the banks. they know that the government isn't going to indict one of them. because they know that if that happened, it would risk bringing down the entire financial system. >> cenk: he will be on the show in just a minute and then a 12-year-old girl gets tased. why do you need toes at tase a 12-year-old girl? >> it was stuck. >> dejamon's mom displays the taser. >>i jump out of my skin at people when i'm upset. do you share the sense of outrage that they're doing this, this corruption based on corruption based on corruption. >>i think that's an understatement, eliot. >> i'm not prone to understatement, so explain to me why that is. i think the mob learned from wall st., not vice versa. >> cenk: a lot of people throughout the country have been protesting about the home foreclosures

he's the special tarp inspector general for tarp. that means the guy who is going to look out for us. he did and you know what he found out? from being inside the government and look at all of the numbers the bankers are screwing us. >> we need to break up the banks. they know that the government isn't going to indict one of them. because they know that if that happened, it would risk bringing down the entire financial system. >> cenk: he will be on the show in just a minute and then a 12-year-old girl gets tased. why do you need toes at tase a 12-year-old girl? >> it was stuck. >> dejamon's mom >>i jump out of my skin at people when i'm upset. do you share the sense of outrage that they're doing this, this corruption based on corruption based on corruption. >>i think that's an understatement, eliot. >> i'm not prone to understatement, so explain to me why that is. i think the mob learned from wall st., not vice versa. (vo) now, it's your turn. (vo) connect with the young turks with cenk uygur. >> it's go time. >> cenk: a lot of peop

and the president he's been involved in these cases he goes to washington he's overseeing tarp and they build a case around a guy who is committing fraud they have an airtight case or at least he says their agents did and the d.o.j. was afraid to push forward with it and and his read was that they weren't they were uncomfortable with with going after such a high profile case and maybe had had as much experience doing that i mean i guess some of my bras he was used to that when he was working for the prosecutor's office but that very fact if that is the case should be concerning a forward if our that's our d.o.j. prosecutors are so wimpy but one of the things that he did point out is he thinks that there is an experience gap these are sophisticated white collar crimes they do require a knowledge of sophisticated issues and he said that he believes there may be somewhat of an experience gap he talked about moving resources away from an area like this to an area like counterterrorism so there may be an experience gap i don't know that's that's certainly his speculation or assessment. but i

all those things that tarp was supposed to do, that john mccain when he voted for tarp was hoping that it would do and was promised it would do, and those promises went broken and they were first broken by the bush administration and broken pretty spectacularly by the obama administration. connell: we have plenty of guests that have come on for the last three or four years that have bashed the bailout program that said we should never have gone down this road and tarp was a mistake from day one, and we have had other guests come on that defended it. you are basically doing both, you are saying this tarp was necessary, it just wasn't implemented properly, which is kind of unique in a lot of ways, who represents your view in politics, who is closest to that? >> i'm not that sure. there's not that many. you see actually people who sort of recognize that, you know, we had to do something. i mean the country was going off in abyss. and the question was whether tarp was the necessary thing or something else. when banks are too big to fail, that is an unfortunate reality of our economic syste

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp guy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let them if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's the matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's w

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp buy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let them if there is a romney ryan administration to let them stay because i think the sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that we had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp guy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let them if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that he had in many of the problems there were a numerated in the opening here really escape you know political and government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's why

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp guy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let them if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that we had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's the matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's w

in the end it was tarps blowing around enough that it caused the bridge to move. there was no sus steaned damage because of the tarps in the wind. people wonder is it save. they looked at mdta records and found according to standards, it is save but considered functionally obsolete. it's safe but if it were built today it wouldn't meet current standards. >> quite frankly, except for rush our period the existing bridge seems to provide the capacity that we have for the highway demand. >> according to the mdta the bay bridge had its last hands on inspection june of 2011. a visual inspection in march turned up no problem. >>> more on the boat accident involving don dwyer. a good samaritan rushed to the scene. take a listen. >> the other was going and i'm 100 feet away from the boat that was lowing people. he face all plod di. >> dwyer admitted to drinking. however, charges haveot been filed against the lawmaker. >>> exactly seven years to the day that hurricane katrina tore up the gulf coast. we are prepared for a repeat. wyatt keeping a close eye on isaac. >>> now i

the side of the explosion is covered with huge tarp in sandbags. the next picture is from june to about 11, you can now see that construction has begun on to new homes on the northern edge. there's also renovation under way on several damaged homes. also, noticed the young trees and brush that have popped up on what was a charred hillside. >>brian: of the wind is blowing and fog drifted into several clues ago. the fog will make its way into the rest of the bay by midnight, the eventually filling into the valleys. for tomorrow morning, a cloudy start. the clouds will slowly cleared through the morning starting around 8:00 a.m. eventually clearing san francisco and oakland by 11:00 a.m.. we are going to see a warming trend as we go to the entire week. the blues as readings in the '50s. that is where we will be in the morning. upper 80s and low 90s. we will have some eighties for the south bay and 70's by the bay. as we go to the rest of the week each and every day gets warmer. the real he will, on wednesday. warmer temperatures by thursday. >> fallin

is now covered by a huge tarp and sandbags. the next picture is from june of 2011, about a month later, you can now see that construction has begun on two new homes along the northern edge of the burn zone and envision underway on several damaged homes and the last aerial photograph from 2011 this house is finished and a new one under construction and the site of the explosion which used to be a tarp covered hole has now been paved over. also notice the young trees and brush that popped up on what was a charred hillside. in finally this is video of how the neighborhood looks today and new homes under construction and several homes being renovated. charles clifford kron 4. >>> jerry brown getting a boost today to help push his tax initiative. the california nurses association is giving a 1 million-dollar contribution to try to make sure that measure passes. right now california faces a 16 billion-dollar deficit. and brown warned without a desperately needed tax increase. cuts will have to be severe. >> all nurses this is a gener

. >> marie, he voted for tarp, he voted for tarp, the auto bailout. >> he voted for the house bill, not the president's bill. >> you're splitting hairs on that, he did vote for tarp if i'm not mistaken. >> he consistently opposed the stimulus spending, he opposed the auto bailouts. i think when you talk about these issues, voters understand one thing about paul ryan, and that is that he's willing to fight. they thaungs about him. i don't think the fact that a few letters went out the door from his office will suddenly change his whole credibility on this set of issues. >> i do think that he voted for the auto bailout. because you just said he didn't. >> he's been criticizing it. he pointed out they had four auto plants close in his district and these policies just don't work. but that sounds like john kerry, i voted for it before i voted against it. the conversion by ryan has come awfully recently. >> we'll watch this, so far it's unclear as far as what the impact on paul ryan will be from this, but certainly appreciate your insights, thank you so much. we'll see you soon greg and sarah

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp eye with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that that bruce is raising have been forgotten and i think that there will not be a tendency now to lead them if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that we had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp guy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's why

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp eye with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brewster i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and used and that's why

>> i think he did right thing when he voted for tarp and auto bailout. what we'll see, paul ryan is a decent man who believes in civil discussion but what he really put out there and what i like about it, is the choices are stark this fall. are you going to support someone that will gut medicaid, turn it into a voucher program, increase costs to seniors of more than $6,000 a year, ore are you going to give millionaires a tax cut of $250,000? i like being able to talk about that. i like about the facts. jon: republicans say the president has already gutted medicare with the health care budget. >> that's right. jon: which have to leave it there. >> that's right, jon, matt, debbie, thank you both. >> thank you. jenna: next some incredible new images from you from mars. we'll show you a panoramic look at a martian crater you have never seen before. >>> why is a group of nobel peace prize winners taking on a new reality tv show? we have the details on that straight ahead. this man is about to be the millionth customer. would you mind if i go ahead of you? ins

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp eye with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's why they

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp eye with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that that bruce is raising have been forgotten and i think that there will not be a tendency now to lead them if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that we had in many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture our icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and used and th

and the president he's been involved in these cases he goes to washington he's overseeing tarp and they build a case around a guy who is committing fraud they have an airtight case or at least he says their agents did and the d.o.j. was afraid to push forward with it and and his read was that they weren't they were uncomfortable with with going after such a high profile case and maybe had had as much experience doing that i mean i guess someone i brought he was used to that when he was working for the prosecutor's office and that was lauren lyster host of the capital account that's going to do for tonight's bus for more of the stories we cover check out our youtube channel youtube dot com slash artsy america you can also check out our web site that's our teeth tom slash usa and you can also follow me on twitter as wall for now have a great night.

morgan, citibank, goldman sachs paid back tarp. initially, $125 billion was given to the largest banks and it quickly paid back. host: and banks worth less than $10 billion a piece, and moneys outstanding versus what they paid back. what is it about the smaller banks giving them a harder time? guest: a lot of the smaller banks are not as healthy as the big banks. they also don't have easy access to the capital market, so it is harder for them to go out and raise capital to pay it back. host: here is a piece that you wrote for bloomberg a couple of weeks ago. the u.s. treasury department said it started selling stakes today -- first of all, why get out of it? why is of the treasury department trying to extricate itself from these banks? guest: hutras reece says it was never intended to be a lifelong shareholder of banks, so it was natural they would eventually get out. i think they are realistic probably will not do with this year. and probably will continue into next year. host: why is it so? and how is it planning out, as it begin

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp eye with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brewster i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and used and that's why they

objectivist anti-socialist idiology has been manifesting in her acolytes so far well looking back at tarp medicare part d. and the iraq war paul ryan obviously voted against subsidizing the banks and the per script drugs of old folks and green lighting a war that added hundreds of billions of dollars to the deficit he purports to want to cut right now wrong he voted yes to all three how's that for socking it to the government looters and moochers early showed them and his budget which is supposed to reform medicare what impact the program for those fifty five years and older and it wouldn't change for ten years what the government budget is in a horrible condition now why not start now oh as david frum points out these days americans over fifty five vote heavily republican under fifty five lean democratic under thirty's overwhelmingly so what in a healthy dose of politically motivated social welfare there is nothing like it i am a little love it ok well moving on monetary policy wrong and must hate the fed printing all that free money right maybe not behind closed doors as one of the prod

objectivist anti-socialist idiology has been manifesting in her acolytes so far well looking back at tarp medicare part d. and the iraq war paul ryan obviously voted against subsidizing the banks and the per script and drugs of old folks and green lighting a war that added hundreds of billions of dollars to the deficit he purports to want to cut right now wrong he voted yes to all three how's that for sock it to the government looters and moochers early showed them and his budget which is supposed to reform medicare what impact the program for those fifty five years and older and it wouldn't change for ten years what the government budget is in a horrible condition now why not start now oh as david frum points out these days americans over fifty five vote heavily republican under fifty five lean democratic under thirty's overwhelmingly so what in a healthy dose of politically motivated social welfare there is nothing like it i am a little of it ok well moving on monetary policy ryan must hate the fed printing all that free money right maybe not behind closed doors as one of the producers

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp buy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brewster i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's why the

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp buy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political and government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and heels and that's wh

objectivist anti-socialist idiology has been manifesting in her acolytes so far well looking back at tarp medicare part d. and the iraq war paul ryan obviously voted against subsidizing the banks and the per script drugs of old folks and green lighting a war that added hundreds of billions of dollars to the deficit he purports to want to cut right now wrong he voted yes to all three how's that for going to the government looters and moochers early showed them and his budget which is supposed to reform medicare what impact the program for those fifty five years and older and it wouldn't change for ten years wait what the government budget is in a formal condition now why not start now oh as david frum points out these days americans over fifty five vote heavily republican under fifty five lean democratic under thirty's overwhelmingly so what in a healthy dose of politically motivated social welfare there is nothing like it i am a little of it ok well moving on monetary policy ryan must hate the fed printing all that free money right maybe not behind closed doors as one of the producers rig

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp guy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let the if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brewster i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and used and that's why they

s new deal i think with congressman paul some of his ideas in terms of tarp and things of that nature i think frankly have resonated with a lot of people beyond congressman paul's base and i do think that there is going to be a lot of concern about this and there's going to be a sharp guy with people here everybody or a lot of people i know on the conservative side are very enthusiastic about governor romney and particularly congressman ryan but i don't think that the kind of issues that bruce is raising have been forgotten and i think that there will not be a tendency now to let them if there is a romney ryan administration to let them skate as i think was sort of done with george w. bush in the aftermath of nine eleven i think go ahead brister i think many of the problems that he had many of the problems there were a numerated in the opening here really escape you know political or government resolution it's a matter of the political culture icons who we hold up for admiration whether they're lady gaga or someone who is wise and industrious and ambitious and used and that's why they