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Bill: jon scott is hanging out waiting for "happening now" in about 12 minutes. jon: i'm feeling like i should go get a college degree again. big news out of wisconsin today where governor scott walker won the historic recall election last night. we are still digesting what last night's races tell us about what is coming up in november, plus speaking of november, former president bill clinton making more news today and not in a way that president obama's re-election team is likely to be thrilled about. we'll take a closer look at bill clinton's efforts on behalf of the white house. is he helpi...

California, 87-cents and the lower end when you're talking about the tax structure on cigarettes in the whole country. the average state in the country charges $1.50 on taxes. california just 87-cents. it goes down by about 63,000 votes. that's writ i where it is right now. neither side will say yes or no on this bill. the ap has called it. they say it's too close to call. a lot of people say, so goes california, so goes the country. a lot of states are having taxes on the ballot in november to try to get out of financial messes, california one of those states. the governor has put a lot of mo...

Explain that loss to anyone? or will the government sort of be all by themselves out there today. >> reporter: thr-s hearing it's all government with folks from the federal government, the federal reserve. the federal consumer protection bureau. they will all be testifying today. a week from today, next weeks, jpmorgan's cep jaime diamond will be receiving. they are saying today that government regular hraeurts are working with jp morgan to figure out how to manage and derisk the huge portfolio that caused one of the nation's biggest banks $2 billion. martha: by most accounts it was a trading ...