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With this notion of states as laboratories, let's look at two experiments that happened this week. for red laboratory, the great state of albany, republican governor, republican 1234senate republican house and they passed legislation to nullify all federal gun laws in albany. meaning any federal laws deemed contrary to the second amendment would be declared null and void. so the albany state senate voted two days ago to nullify federal law. should that bill become the law of that red piece of land, it is unclear if it would ever have its intended effect. u.s. attorney general eric holder sent ...

opportunity to do something big. we have a chance to stabilize america's finances for a decade, for 15 years or 20 years. if we're willing to seize the moment. what that would require would be some shared sacrifice and a balanced approach that says we're going to make significant cuts in domestic spending. and i have already said i'm willing to take down domestic spending to the lowest percentage of our overall economy since dwight eisenhower. it also requires cuts in defense spending. and i've said that in addition to the $400 billion that we've already cut from defense spending we'...

Lack of prosecution, i wish there had been more, but part of the problem was frankly, that the laws were so loose that things that we find offensive were not illegal, and one of the things we did in the law last year was to make more of those things illegal. they were talking about mortgage fraud. it has nothing to do with what i was just talking about, which is the ability of the commission to step in and put limits on what speculators can do. both are important but they're separate. >> congressman barney frank, thank you for joining us. this year's budget is in place and the house has just...