so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsense. just people sense. next week could be one of the most important weeks in the presidential race. next week in fact the european union is expected to announce major changes to its financial system, all in an effort to stave off the region's economic cris crisis. at the summit in mexico the president announced he supports the formation of a european banking union that would help the unstable financial systems. there's one major problem, germany. angela merkel is not on board with an integrated banking system and against a big stimulus for struggling kunt countries. what the eu decides could have an effect on the election. let me read for everybody exactly what merkel said at the press conference, that a stimulus program could not be repeated and that president obama agreed with her and then she said this, the american president said and we on the european said, that doesn't work, talking about the stimulus, the debts are too high for that. do you think that that's true, that the stimulus would not work? >> the situation is europe is they adopted a strategy of austerity and it's not working. she does recognize there has to be growth as well as responsible fiscal controls. i think the chancellor is trying to understand that there has to be growth in europe, worldwide growth. she has particular issues in germany so she's not as outspoken in terms of growth. the progress they made in trying to unify their institutions, banking institutions, a single hopefully regulator, discussions of ways they can moderate in some respects the conditions with regard to greece, with regard to other countries, those are positive signs and i don't think she's quite ready as she's indicated statements to clear a huge fiscal stimulus. the austerity is not working in europe. >> some people would be surprised by the fact she said the president agrees with her on that part though. >> i think that it's a matter ever interpretation, i think the president has made it very clear, unless there's the growth short-term growth along with long-term imposition of fiscal discipline, that the europe is not going to be able to sort of work itself out of the problem. that's not a feeling shared uniquely by president obama, france and other leaders talking about the need to not only have common institutions but emphasize growth. the irony here and policies europeans ensued have not only caused significant unemployment but also widened the deficit and made their financial situations more precarious and weakened their banking institutions. it hasn't led to success and that is evidence is on the table. i think merkel, chancellor merkel understands it. politically, they have to find an indirect way to provide support for the european economy. >> looking forward to next week, meetings in brus sells, how critical is what is happening in the eurozone to what is potentially going to happen in this country as far as the election? >> it's absolutely critical and it's not simply the euro zone, it's also china. we're in a global economy. the president shaz emphasized significant exports as a way to grow our economy. we've seen many, many months of private job growth but not sufficient to carry us forward and to reduce overall unemployment. so we have to have worldwide growth. and that is the new phenomenon in the world, 30 or 40 years ago we could do some things in the united states and get our economy back on track. now it's a global economy. >> senator jack reed, democrat from rhode island. nice to see you, sir. we appreciate it. still ahead, we're talking about terror in france, an al qaeda militant taking four people hostage. we'll take you live to this breaking story straight ahead. jerry sandusky's defense attorney said what? while joking with reporters he likened the trial to the soap opera "all my children." is it an innocent mistake, poor choice of words? maybe both. we'll listen to it and let you decide. ♪ send a note stay informed catch a show. make your point make a memory make a masterpiece. read something watch something and learn something. do it all more beautifully, with the retina display on ipad. welcome back. i'm christine romans with quick headlines. in a newly released 911 call, rodney king's fiancee sounds distraught and desperate when she discovered king's body at the bottom of his pool. >> how old is he? >> rodney king, the guy that got beat by the police. >> how old is he? >> he's 47 years old. he's not moving. ee at the bottom of the swimming pool. i don't know. >> is he out now? >> yes, i was sleeping for an hour or something then i look over and went to find him. >> she told the dispatcher she tried to revive king by throwing a shovel in the water and couldn't pull him out herself because she didn't know how to swim. a patdown at southwest airport turned to allegations of battery. that's former tsa worker carol price being patted down for two minutes last april by a co-worker. she was upset how it was done, she went to a supervisor to complain and appears to grope her to show her displeasure. she is also facing resisting arrest. secretary yat, a winner again, winning time has been changed to a stakes record 1:53. his 90-year-old winner always contended the time is wrong and new technology has proved that true. 39 years after he won it. >> wow. >> isn't that cool? >> that is really cool. >> pitted against this year's champion, comes out on top. i didn't know that. >> let's introduce today's team since they already started talking. will cain and margaret hoover, author of "american individualism" and former senior adviser to president clinton and writer at the new yorker.com. our get real this morning is odd and this trial has been so crazy, the sandusky trial. yesterday joe amendola, sandusky's lawyer was joking with reporters and his wanter is raising eyebrows. a little contest, sandusky faces 51 counts of sexual abuse against ten young boys. when asked whether or not sandusky would take the stand in his own defense. he called the drama a soap ap ra, but not just any -- here's how it went. >> stay tuned. it's like a soap, you have to wait and see. >> thank you. >> if you know the answers it takes the excitement out of it. >> "days of our lives"? >> i think it's "general hospital", actually could be "all my children." >> it was ha last one, it went back and forth and they are joking and he says "all my children". >> not so great. i kind of feel for this guy too -- >> amendola? >> this is a very tough situation and he's a good lawyer obviously, but the pressure outside that courtroom. i've been in similar situations as a trial lawyer, you weigh everything you say inside the courtroom. you're outside and someone shout are questions, obviously did not mean to say that and i'm sure he regret it's. >> david letterman or jay leno wouldn't even write a joke in such poor taste. >> i think it was something he said -- >> inadvertently. >> very unfortunate. >> in the court of public opinion this is not going to help their case at all. >> no, it's really, i completely agree. it's interesting what you say about the pressure, you finally get outside and throwing stuff in the back of the car and finally don't have to be in the courtroom and -- >> i don't know, as it's coming out of your mouth, a switch would have been flipped and that's not what i want to be saying. >> stick with general hospital. >> still unclear by the way if sandusky is going to testify at all in his defense. we're going to take you live this morning ahead on "starting point" to france on the hostage situation we've been telling you about all morning. four people are being held by a man claiming to be an al qaeda operative. political battle about to reach crescendo on capitol hill, congress could finderic holder in context. we'll talk to elijah cummings live. we're back after this break. one of the best things about state farm is our accessibility. oh, yeah? [ chris ] you can call us 24-7, get quotes online, start a claim with our smartphone app. you name it, we're here, anytime, anywhere, any way you want it. that's the way i need it. any way you want it. [ man ] all night? all night. every night? any way you want it. that's the way i need it. we just had ourselves a little journey moment there. yep. [ man ] saw 'em in '83 in fresno. place was crawling with chicks. i got to go. ♪ any way you want it ♪ that's the way you need it ♪ any way you want it ♪ welcome, everybody, we start with breaking news, a gunman is holding four people hostage inside a back in toulouse france. jim, what's the latest there? >> reporter: in fact they've evacuated a nearby school now basically telling parents come get their children and the entire neighborhood has been locked down as they wait for the elite police force arriving there to start negotiating with the gunman. this apparently started as a bank robbery and went wrong. however, police are taking it a little more seriously than the average bank robbery because of the claim you mentioned, the gunman says he's a member of al qaeda and it's taking place a few hundred yards away from the former home of mohammed mara, a gunman in march killed seven people, including four school children. and then was killed himself in a shootout with police. he's become something of a folk hero in that neighborhood as grisly as that may seem. as a consequence, there's an inclination to link this event today with that event back in march. >> outside of the gunman saying he is with al qaeda, any other information about the gunman? >> reporter: no, in fact, one of the things that the police source that we talked to said that it's not clear whether he really is a member of al qaeda or whether this is some kind of a fantasy that he might have just adopted when things start the going wrong in the bank robbery. but it's just unclear. there's not a lot of information at this point. it's been going on now for a couple of hours and the police of course are worried most about getting this hostage situation resolved. >> jim bitterman updating us. thanks, jim. let's get right to christine romans. >> no deal after two days of high level talks on iran's nuclear program. officials say a large gap remains between nuclear negotiators from iran and six world powers. they say the talks could resume if a technical level meeting in turkey finds enough common ground. iran insists its nuclear program is for peaceful purposes and not to weaponize. president obama is back in the u.s. after making his case to stop the ripple effects of europe's debt crisis. he encouraged leaders to focus on a long-term vision for the euro while making short-term economic fixes. he brought it back to basics explaining why troubles for europe mean trouble for the u.s. >> europe as a whole is our largest trading partner. if fewer folks are buying stuff in paris or berlin, that means that we're selling less stuff made in pittsburgh or cleveland. all of these issues, economic issues will potentially have some impact on the election. but that's not my biggest concern right now. >> eu leaders will have their own summit next week. grilled over risky business, jamie dimon defending how his bank publicly disclosed $2 billion in losses saying we disclosed what we know when we knew it. it's the second congressional grilling that dimon has faced in the last couple of weeks. coming up at 8:15, barney frank, from the committee dimon faced i can't wait for that. eric holder could be held in contempt of congress in just a few hours from now, the house oversight committee is scheduled a 10:00 a.m. eastern vote on that issue. holder and the committee chairman issa met yesterday for 20 minutes over the documents connected to the botched fast and furious program. he wants more documents turned over that led guns in the hands of mexican drug gangs. holder hasn't done so and issa says he's going to move forward unless they give them all of the documents. ee elijah cummings was present at that meeting. thanks for being with us. >> it's good to be with you. >> and you senator leahy were there and senator grassley. explain that meeting. was it contentious or nasty? >> it was not nasty and the cl that he has produced over 7,600 documents that he has appeared before the congress nine times in the last 16 months and that this incident that started with regard to the local atf office in phoenix allowing guns to go over the border without them tracing them properly and then one of those guns eventually ending up at the scene of the unfortunate murder of agent terry, you know, he explained that, you know, that as a matter of fact he applauded mr. issa for bringing this to the attention of the public and to the attention of the higher ups and doj. he basically said, look, i'm willing to work with you. i've already provided all of these documents. i'll continue to do so, but you've got to give me some kind of assurances that this contempt situation will be taken off the table and basically what issa said was that, no, absolutely not, would not do this. so we're at a stalemate. but basically, you've got to understand, this thing has boiled down to initially the chairman issa was asking for documents that would have been unlawful for the attorney general to even produce. and like wiretap applications and documents that would threaten trials and prosecutions that are going on. so last friday chairman issa took those off the table and now this simply boils down to a letter that was written in february of 19 -- of 2011, where the department said that there was no gun walking when in fact there was. we're basically boiled down to that. >> we're at the stalemate is what you're saying. >> yeah -- >> issa has said, no documents, at 10:00, which is roughly two and a half hours from now, we'll go into a contempt hearing. how likely is that? >> has quite likely and i expect it will come to a vote. i expect that it will be a vote on party lines. and i think that it will be -- i still believe this is an effort to try to embarrass the president. >> congressman, this is will cain, i'm curious then, you talked about the attorney general producing 7,000 odd documents. i know that congressman issa points out there were 80,000 he's asking and talking about, the one from 2011 seems to be the point of focus. it your contention that the attorney general has complied with the subpoena? >> i think the attorney general has complied and continues to want to comply. this is an ongoing thing. they have had to review some 2 millions of e-mails, this is ongoing. and the attorney general says i'm happy to cooperate and give you what you want. i'm continuing to do so. as a matter of fact, senator leahy made it clear that every time he's been ever asked to appear before the congress, he's done so. but and he's basically saying, you know, give us some type of assurances that we are not going to have to be coming up here every week and taking the time of all of my employees to try to go through these documents. we're happy to give them to you. made that very clear. >> het me ask you a question you were saying a moment ago. you said you believe this is an effort to embarrass the president. what do you mean by that, sir? >> i believe -- and the attorney general said this himself, anything that can be done to i think bring a negative light on the president, that's what -- i think that has a large part to do with it. this, the issue we boil down to is one that could have easily been resolved yesterday. we were on the 1 foot line and fumbled the ball. and i'm telling you, as a lawyer, i just think contempt is going far too far and very unreasonable. we've never heard an attorney general, that is the congress of united states never held an attorney general in contempt. >> congressman, am i correct that the situation here now has nothing to do with the original investigation? this is just about whether or not documents remting to the original investigation should be disclosed or not and how she should be disclosed? the issues related to the original investigation are not on the table? >> they were taken off the table on friday after the democrats presented dissenting views to the original contempt citation. understand there was a contempt citation that was asking for documents that he could not legally produce. and so then last friday, mr. issa then took those off the table because he knew there was a flawed document and created another document, citation for contempt on friday. and then says to the attorney general, you've got to produce -- the attorney general says, look, i've already produced some of the documents that you're asking for. and i produce others voluntarily. >> senator, forgive me for interrupting you there. senator grassley said, i'm not going to buy a pig in a poke which is a quote my mom always said, i'm not going to make a deal about whether or not we're going to take this hearing off the table until we get the documents. that's what it seems like this over right now. >> that's basically -- that's exactly where we are. and but, keep in mind, again, the attorney general has said, i have shown good faith and i produced a thousand pages of documents that you wanted, that is the -- basically what the mr. issa is trying to show is two things. one, he's looking for information to show that there was some kind of cover-up with regard to this letter of february 11th with wrongfully stated that there had been no gun walking. and two, he wants post february 4th letter documents to show that there was some type of effort to do harm to whistle blowers. >> maybe we can continue this conversation because it sounds like you're telling me in two hours and 20 minutes this will go into a contempt hearing. congressman elijah cummings, what do you think, we'll chat with you about this tomorrow? >> be happy to. >> thank you, ild hold you to your word on that. still ahead, a new gbiography i shedding light on obama's early life, raises questions about the president's own memoir. is he or is he not on the short list for mitt romney's running mate. the candidate tries to set the record straight about marco rubio. 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