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The economy in new jersey still sucks. and this is what undercuts the message. i'm all for somebody being an adult and talking about entitlement reform although i would challenge you to tell me when a president has led with entitlement reform and won. >> well, nobody does it any more. >> that's not true but -- >> who has? >> put that aside and ask the question whether this message of entitlement reform how that sits with the new jersey fiscal situation where the state's been downgraded eight times in the last couple years. >> i'm not here defending chris christie. i will say, though chris chri...

Been extradited? why haven't they been kicked out of the country? according to state department officials we spoke to, everyday was lost. how that evidence got lost, that is a big question about what went on down in ecuador. again, the brothers insist they have done nothing wrong and that their only crime was being rich and victims of an economic collapse. i think dick fold, if you will, here in the u.s. and that he did no crime and yet his bank collapsed, if that analogy kind of works, that sort of paints the picture of their defense and that they insist they did nothing wrong and they are be...

Regulation. >> lehman blew up and was not rescued. i still think the people within lehman, dick fold is not penniless. he doesn't sit on top of lehman, but the incentive is still there. >> even though he wasn't rescued -- >> nobody went to jail. >> so the point is they know if they gamble and they lose, they don't lose. so they gamble. this is sensible. this is not stupid, this is not crazy. >> they let her know you still have incentivized the gamble. >> is it bail out or no, you're incentive vising the gamble. it's more morally odious to us because ultimately we are going to bear the fruits o...

The same kind of activity. and jamie dimon was seen as being the most rational and reliable of these guys. >> what would you think of the consumer protection bureau created under this administration? >> negligible. at the margin, it will probably help people with credit card charges and stuff like that. >> trying to protect consumers. >> well, trying to protect consumers with regard to their individual transactions. >> but you say the big picture has not changed. the big picture that threatens our economy. >> unfortunately, that's correct. >> so andrea, are you surprised that somebody like, sa...

Jamie dimon was able to get that -- isn't it like a pet -- >> it was stupid as jamie dimon might have actually been an attempt to make a profit on a trade, it was badly supervised. it was badly implemented. all of those things are right. but these $2 billion. it reduces their profitability for a quarter or so is not a systemic risk. what's really ironic to me, is that when the system almost failed and stan o'neil of merrill lynch and dick fold at lehman brothers, the guys who run aig, golden west and what