Period. [applause] no one will take it away, no matter what. Melissa looks like the president has the some major explaining to do because new reports say that when the president made those fateful comments in 2009, he already knew that at least half the people who buy their own health insurance, were not going to be able to keep their existing plan. Politicians had definitely told some whoppers over the years, but just like bush 41s infamous no new taxes promise, president obamas false claim is poised to have hit millions of americans squarely in the wallet. Joining us now, are my favorite professor, charles lib some from the university of chicago and igor stroll can i from think progress. Thanks for joining us. Professor lipton, why these misstatements if you want to call them politely, because they hit peoples wallet. It is about your money. Is that what matters the most . That is when it matters the most. The other reason they matter they are flat statements. You can tell when those promises are being broken and one important difference is that when george h. W. Bush made that promise, he was making it for some indefinite future. He later broke it about two years later. In the case of president obama, it appears, that he actually knew at the time he was saying it that it was false. But its a serious problem because people expect the president of the United States to tell them at least what he thinks is the truth. He may be wrong but at least tell us what he thinks is the truth. Melissa igor, isnt that one of the huge problems . Buried in the obamacare regulations back in july of 2010 it did say that 40 to 67 of the 14 million customers that buy their insurance themselves, on the individual market, were going to lose their plans, that those plans would be eliminateed . Seems like now you can go back and prove he actually new that wasnt true . Thats a huge problem . There are certainly some caveats to his statement but the broad theme of, if you have employersponsored coverage melissa that is not what he said. If you have your insurance that is not what he said. Youre right. That is not what he said. Melissa you said you can keep it. Now there are millions hey, i hear you. He should have been more clear. There are caveats. At end of the day, he couldnt have controlled what insurers did, if they decided to change those policies. Melissa but you knew already. Not about controlling it. It is about admitting what you already know. It is about what insurers do. If insurers decide they will change their policy, if theyre not going to follow these new regulations those are decisions they make. Melissa i dont think it is not about not following new regulations. About the fact it is more expensive to cover more people so theyre not able to offer individual insurance for 98 a month. Youre right. Theyre melissa hang on let professor lip son go. What igor is doing what you will see a lot of over week or two, shift blame to Insurance Companies. Certainly the case that, Insurance Companies had to modify their plans in response to the new law. But that didnt mean that the administration couldnt have successfully grandfathered these in. The reason that they put it in such a flat way, with the word, period, nobody will change your plan, period, was that they feared that if they added the caveat that is eyeing gore rightly says they wouldnt sell the program. This passed by the skin of its teeth. Every single vote was deciding vote. They just couldnt say the truth, i think and pass it. Melissa igor, if you told people what it would really cost them and meant to their money, a lot of us at the time, if you can do math you can see it just doesnt work out. You cant add these many people to the roles especially people who dont have insurance it is too expensive. They have preexisting conditions. Put them on for very little money everyones elses insurance will go way up. If youre honest about the math and money wouldnt have been able to sell it, right. The honest answer about the money for most people in the individual market theyre going to go into these exchanges and qualify for subsidies, so theyre going to get more comprehensive. Melissa that is actually not true. When you look at l. A. Times article. It is true. Melissa case after case. No it is not they have individual case after individual case of people who are case study one person from california. Also states that most people will get subsidies. That same l. A. Times article. Melissa absolutely not true most people will not get subsidies. That is true. Melissa where will money come from . You have to have income level low enough to qualify. That is how you would get it, igor. If youre going to ask me a question you have to let me respond. Melissa you have to respond honestly, cant say things factually untrue remain on the show. That is my job. Hold over one. That is your facts. Make sure youre telling the truth. Or else you cant be on the show. That is the problem. Look at weighted average of exchanges, of plans being offered in the exchange, it is absolutely true, that six out of 10 people who are going to be buying coverage in the individual market are going to be paying under 100. Theyre going to be paying less because of the subsidies that are financed by those revenue raisers in the law. That is way law is built. Melissa if people are paying less money how would the math on this possibly work out . It doesnt. The problem is, what igor is saying in terms of subsidies, is both benefit of the program and a problem of the program. Its a benefit if you receive the subsidies, so you receive less expensive insurance. But somebody has to pay subsidies. Melissa that always somebody. That is paid in the revenue in the law. Law is paid for. Melissa weve got to go. Thanks to both of you for joining us. Huge news on zach Insider Trading saga weve been following forever. Adam shapiro is the breaking newsdesk with details. Yeah. What is new in here is actually kind of old that charlie gasparino, our Senior Correspondent had been reporting this is kind of deal that could actually be playing out. He reported that over a month ago. Heres what is coming down the pike this week, possibly next week, according to charlie, sac may enter into some kind of settlement on criminal issues with the department of justice an pay roughly 1. 2 billion fine. It would be largest fine in the history of these kind ever cases, Insider Trading. When you add already 616 million they have paid in the civil settlement for a previous issue, that is 1. 8, a little 1. 8 billion. But there are still many questions. If they do announce this as the deal, is steve cohen essentially prohibited from trading other peoples money Going Forward . Or would he now then close sac in would he manage his own money the key looks as they have they have got a deal. It has not been announced, nobody from the department of justice or u. S. Attorneys office in manhattan or sac capital would discuss this issue. According to charlie looks as if a deal is in the works that would result in a 1. 2 billion fine and company, not mr. Cohen, he has never been charged with anything, keep in mind, but the company, sac would be pleading guilty to the charges against it. Melissa adam shapiro, thank you so much. You got it. Melissa so is the key to a happy marriage a shared bank account . A new study says yes. Tweet me and tell me what you think. I love your responses so f. Some are scary though. It is our money talker. Forget selfservice grocery checkout, how about selfservice Security Checks . Love it or hate it . Well show you what it is all about. More money coming up. When we made our commitment to the gulf, bp had two big goals help the gulf recover and learn from what happened so we could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. Melissa so forget love or communication being the key to a happy marriage because a new study says, what can keep you together is actually the most core are uptive thing out there, money supposedly spouse that is share a bank account are happier than those who dont. Do you guys think this rings true . Here with todays money talker, jeff gardere, wall street journal veronica dagger and celebrity and business powerhouse, jill zare ren. Happier couples what do you think . 100 happier. I pool my money with my husbands. He has more than i do. Now im doing okay. But, no, also, it takes one less thing to fight out. One less thing to fight over out of the equation. Melissa really. Married couples fight about money and power who is spending on what. If youre separate Bank Accounts, think about this, who is payin for food this week . Who is paying for diner . Are you paying for diner . Those things cause arguments. If it is pooled melissa a lot of people say it is pooled, other person knows who is the big spender is. So what . Melissa doesnt that cost i think you have to use the study. Selection bias. Work with couples who pool all their money are happy like you and your husband. These are the folks who put skin in the game. Theyre investing investing in r relationship. They trust each other more. More transparency. Of course the study will show they are happier. A lot of people have issues with money. Money is the bain of many, many marriages. Melissa i wonder, veronica, people keep money separate they have one foot out the door . They have separate Bank Accounts to make it easier . It is selfselecting the couples that pool it are thinking staying together. What do you think . I think youre right. If youre thinking about divorce, thinking of walking away or building a nest egg or not so secret nest egg. You want to walk out the door to pay for a lawyer or what else. Melissa that is ridiculous. If you get divorced half of everything is everyone elses anyway. I want to qualify my answer. My mother said, we wrote a book, about secrets of a jewish mother. You always have to have your own knipple. Which my husband does not agree with at all. Melissa do you, jill . On tv. Honestly i used to take cash and used to hide it away. I did. This way i wouldnt have to ask him for money or say, i need money to get amani cure. I hate asking for money even though it is my money. Melissa have an atm card, get money for yourself. Does that. Melissa you dont have an atm card. No. Credit cards. He has most of the money. Cashless society. Melissa wouldnt know what you were spending money on . I did. But then the cash stopped. Melissa that is really comical. I think there should be transparency you say listen i have my account, you have your account and pool something in the middle. Melissa that is very complicated. My mother is like that. You have to have a little bit of privacy. Melissa dont you fight what is coming out of the joint account . Im doing this out of my account but i want you and joint account we pay the rent. Of course people fight about it. Of course they do. Of course people fight bit but again, when you have a marriage it is about communication and you try to work out those issues. You win some, you lose some but at the end of the day you compromise. Having a joint account takes pressure off. You go to wedding and want to buy a wedding gift. I want to spend 300, i want to spend 500. Why do we argue about this. Im in charge buying gifts for family and i go into the joint bank account and buy the gift. Melissa dont you have to have a cfo of the family . In my house thats what you have find. One person who is responsible for keeping track of everything. Otherwise people are writing checks out of the same account. Cfo in most families . Women. A lot of guys they turn over, whether the woman is making own money. Melissa not in my house. Turn it over to the women with wiser about what to do with the money. Melissa are you cfo of your house . My mom takes care of everything. Melissa a lost women arent. That is the problem. Another reason you should have a joint account, if the husband dies, you get a divorce you will be clueless. My mother said a lot of woman are in trouble dont have a knipple. End up getting a divorce. Melissa that sounds obscene. I cant help it. [all talking at once] im sorry. Melissa keep saying that. If one person makes the money and controls the bank account, isnt it lop sided in terms of power . Yes. Very, very lopsided. If one person makes all of the money, you have to melissa and pays the bills. And pays the bills. Melissa even if they toll the other person, do whatever you want i think power i see a lot of women who resented their partners because of that. That may cause a divorce. You will tell you if you have someone makes all the money and controlling it, you better find Something Else in the marriage that the other person will be must more civil on. Melissa each person has to have own separate accounts, that is being didnt now. That is society. Each person has their own rights and do what they want to have privacy. What do you think about that . I dont think my husband needs any privacy. No. But my mother, what happened to the old saying, what is his is mine and what is mine is mine . Melissa yes. Do we like that . Melissa no, i dont think so. Important to have some sort of independence but have it within the confines of relationship. Melissa you want your cake and eat it too. That makes no sense. How do you make that 5 of each of incomes spend without checking with the other person. Or set a spending limit. Melissa now youre starting to make sense. This is something we said, over xamount, whatever is comfortable in your household. You cant go out and spend a thousand dollars, say to the other person, how do you feel about this . I really want to do this. Bobby went downstairs for fedex with business but ended up with three boxes from saks fifth avenue, where did these come from . You told me to go on diet yesterday and i already bought this. Think bull a the money you saved . Melissa im growing to leave you guys here to fight about this. We are going to fight about that. Melissa come into the home without any cash, because after that segment you dont have any cash. Who would not want to do that . Which have all the options. Plus are you ready for selfservice Security Checks . What the cost of making you feel safe . Do you ever have too much money melissa big thing blocking so many from buying a new home is clearly money, but did you know there are ways to pick up a new property without any cash . There are actually some sweet deals for buyers and now, is the time to take advantage, because prices just keep going up. The s p caseshiller index shows home prices rose 12point yearoveryear. Which is 12. 8 . Large aft annual increase since 2006. Real estate expert Stan Humphries from zillow. I was shocked when i saw the article. Yahoo went out and put together a bunch of places where you can get a loan with almost nothing down. A lot of them are government. Veterans administration, no down payment, u. S. Department of agriculture, navy federal in virginia. Some are private. Banks in florida, td a america mortgage. Only requires 5 down payment. Is this surprising that this is going on now, stan . I think a lot of consumers hear that and think 2006 had largely gone away the ability to get a large mortgage with no down payment. Federal Housing Administration where you get as little as 3. 5 , down, persisted during the downturn and the fact that they have persisted is why federal Housing Administration mortgages account for 25 of the market place, when people wanted no down payments they had to go to place like fha the trouble with fha mortgages they tend to be a little more expensive for the right to put nothing down. So if you look more like va loan or Rural Housing service or in a rural community, those have very lowdown payments but, the fees wont be as high as fha mortgage typically. Melissa so, if youre a consumer out there looking at Housing Market and want to get in and buy something right now. Is it smart to go with for one of loans where you dont put anything down, or are there things looking out for . For example, look at td america mortgage. On the surface, looks like really good deal. Down payment of 5 . 2 of the down payment can come from outside sources. Could be a gift. Yeah. I think that in general, i guess i would caution people. I think these are really good products for firsttime homebuyers trying to get into the market to get a foothold and build equity over successive years and equity where they pay larger down payment in the next home. I get a little worried when we see existing homeowners buying next home. Melissa right. Continue to finance with no cash down. That is exactly what got us into this mess in the housing boom when people were putting nothing down an pulling equity out of their homes through home equity lines of credit. They have no equity. When housing turns down, immediately first to walk away. Melissa right. Need to be a little bit careful from lender perspective. I think also to be responsible borer, think about how much you should put a little bit of skin in the game. Melissa what you said is exactly what worries me about seeing so many places now cropping up, even beyond the government. We know the government wants to incent people to get out there and buy homes. , for many different reasons. But now if you see private lenders actually responsible for their losses, actually doing the same thing, it makes me wonder, are we in another bubble, especially when, beginnings of a bubble, especially when you couple it with the caseshiller data, beginning of segment saying home prices have gone up so much . Are we feeling little bit of a bubble right now . I would separate the bubble question into, there is what is happening on the lending side and i dont think i would say right now were in anywhere near, generally lending standards are still quite tight. Quite relative to 2006 standards. Look longer view they look more like lending standards prevailing in the 1990s. They are not crazy. They are very tight and hard to get a mortgage. Zillow analysis last week looking at quotes in the zillow mortgage marketplace, and found a third of americans have less than 620 credit scores, theyre getting no quotes whatsoever. So generally those people are locked out of the Housing Market. When you look at housing bubble, more effective ways what are prices doing relative to historical levels. There the u. S. Generally looks affordable. For the 15 years before the housing runup, americans spent 20 of incomes on mortgage payments. Right now theyre spendi