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For the poll say we want stricter reforms and 59% want more federal oversight. democrats say this is a great opportunity to make the republicans look callous and in bed with wall street but in reality, is that the truth or as mitch mcconnell right when he said, and i'll just paraphrase, he said we're for reform, we're not for this reform. >> sure. >> so just because you say no to this, it doesn't mean that you say no to the whole concept of it. another major thing, along with the $50 billion is fannie and freddie. a lot of republicans say wait a second, why are we doing any type of reform and ...

Heard? he's actually saying that the mainstream media was paying too much attention to the tea party? huh? how did you react? >> yeah. oh, i thought it was -- i had two immediate reactions. my first one was i thought the remark was rich coming from a governor whose political party benefited greatly by the media carrying the water for their presidential nominee last election. and i also thought it was kind of amusing as well because they can't make up their minds. is it the fault of the media, is the media given them too much credibility? are they still a shadow group of the g.o.p.? they can't ...

That is when he was a senator, dick, barack obama was a member of a caucus that, you know, had the opportunity to rein in fannie and freddie and did not. >> not just that. not just that, freddie mae and fannie mac, fannie mae and freddie mac -- freddie, fannie, we pointed out in our earlier book "outrage" had become basically arms of the democratic party. they'd become like a democratic club. pushing into each neighborhood, working with community organizers and the obama people in chicago were very key part of it. rahm emanuel sat on the board of freddie mac during this period. >> right. very ...