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Pashakokis, both cnbc contributors. I start with jared bernstein. Good to see you. Hello, michelle. Yesterday, president obama touts this change by treasuries as a great thing, citing understandably one of the great things about america is its rule of law, but apparently missing the irony that by changing the rules in the middle of the game he has undermined the rule of law. How on earth can this be justified . Laws change all the time when there is a problem. I think the government this is not a law. This is just a regulatory change that has gone around congress. These are new rules on the books that have to be followed. If people dont follow it, they will be in violation and there will be actions. I think the important point here is that there are two very significant problems afoot. One is tax avoidance by industries who just moved their tax mailbox, not the operations, over to foreign markets in order to avoid the tax bill, and the other is a group of a small group of advisers who ....