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I studied it this thoroughly. goldman sachs may havehood 160 billion on its balance sheet, plenty of time before its debts became due, couldn't pay them, it is going down like the "titanic" like morgan stanley was, merrill lynch, lehman and bear sterns did no question we bailed them out. now that they are allowed to become bank holding companies on september 22nd of 2008, now they can back up to the fed window, get inexpensive financing and run their business plan. i can't really think of -- i can't name five things that have changed about goldman's business plan since theç dodd frank law th...

Money from the country, not a leaf blower injecting money into the country by virtue of the incentive system? >> well, i don't know what to say. that's certainly not how they want us to think about it. they feel like the financial reform bill was the best they could do. again, in a perfect world, they may have done some things differently. but the numbers in the congress are very hard for the democrats. i think people feel like they have big majorities in the house and senate. why can't they get something closer to what would be sort of a liberal democratic i deal. you have to be able to break...

Don't think the government should have used t.a.r.p. i think bush was really a mistake in putting t.a.r.p. in and i think all of the bailouts were a real mistake. >> dylan? >> i agree with your assessment that this doesn't prevent future catastrophe as long as you have too big to fail institutions or at least the perception of too big to fail institutions. you will always have the implicit guarantee, excess risk taking and exploitation of the leverage over the government, the democrats' plan minority republicans' plan solve this. it just creates a two class banking system. and the other thing ...

They are the party of wall street these days. obama and the democrats took in vastly more money, not just from goldman sachs, but from wall street in general over the last couple of election cycles, and this new sec filing thing stinks to high heaven and the wall street reform bill stinks to high heaven because basically what it's doing is it's going to create an incentive system forever for wall street to be gaming washington. i think the whole thing is a mess and i'm sure there are republicans to blame, too. megyn: jonah does state the numbers accurately. according to reports, 62 percent of ...

Medicare, and republicans have been critical of the proposed cuts in medicare. but you said off the top, we have to face our entitlement crisis. there is no greater crisis than the threat to medicare. will you admit right now to america that if medicare is going to exist after 2019, we're going to have to cut medicare? >> make tough choices. >> no question about that the way the president's health care plan works, he says we'll take $500 billion out of medicare advantage. wait a second. let's talk about a better approach than just slashing a portion of the program. >> isn't that a private prog...