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>> reporter: jamie diamond said he supports about 70% of dodd frank, the 2010 law passed to try to control the banks, but this morning one of the co-authors of the bill, congressman barney frank, said the bill doesn't really have all of its teeth yet and it won't until something called the volcker rule takes effect which will regulate proprietary trading. >> part of the problem is while the republicans have plenty of money to spend on international military adventures that haven't worked out well have reduced the funding we asked for fo to regue these agencies. >> reporter: republican senator ...

>> well, they've got the staff working about three hours a day, trying to resolve it down to issues that the members will have to deal with. i think there's a lot of room for agreement here. we need a massive investment in our crumbling infrastructure. 150,000 bridges on the national system need replacement or repair. 40% of national highway systems pavement need not just resurfacing but actual underlayment. we have requirements that will create hundreds of thousands, millions of american jobs potentially if we can get a running lo term bill. >> you left out the giant elephant in the living ro...

Are people in a bipartisan nature to do it. these things in congress take a long, long time. we just introduced the bill a couple of weeks ago and it is gathering a lot of momentum and steam. this is something whose time has come. that is why we call is the social networking online protection act. we want to protect the fact that someone put something that is private it remains private. >> aside from this particular piece of legislation you have studied facebook and the dynamics behind it a little bit. what is your advice to a young person who puts their entire life on facebook? >> i think peo...