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we turn those small spaces into stand-alone images of a free space of trade. of a free market. all of the regulatory framework that is necessary to create a little space like that as a space of free trade. the illusion really is to think that there can be such a thing as voluntary compensated exchange that can occur without all of the mechanisms required to put it in place. the chicago board of -- board of trade is a perfect example. and institution we think of the ideals of the space of the free market. and institution constructed through enormous regulatory intervention. in other w...

the l.a. times broke the story about city manager robert rizzo. not only was he making close to $800,000 a year but the l.a. times says out of his retirement account he loaned himself $95,000 and paid the money back using city funds without the approval of the city council. that man right there robert rizzo was part of the whole salary scandal. let me show you the amount of the salaries. rizzo made $887,000 a year. his assistant manager. $376,000. the police chief, randy adams, $457,000 a year, megyn. he makes a lot more than the l.a. police chief who has thousands of officers. randy...

will be the big thing. jenna: mike emanuel is live at the white house. mike, what started a buzz about the possible shakeup of the economic team. >> reporter: it was president obama in his own words. he talked about the effect team, some of the tough decisions they've had to make and about the family impact of working in these high stress, very challenging jobs. here is more from the president. >> look, i have not made any determinations about personnel. larry summers and tim geithner have done on you outstanding job as has my whole economic team. this is tough the work that they do....