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Cheryl casone joins me. what does this means, the banks had been fairly healthy through the course of this since 2008. are we headed in that direction again? >> there is a fear certainly that u.s. banks are going to be back into some type of crisis mode as we were back in 2008. you mentioned the goldman sachs loss, martha, they made $1.9 billion in the same quarter a year ago, 2010. we have not seen goldman sachs have a loss like this since the fall of 2008, the same time frame when lehman brothers was bankrupt, so that's one concern on the investment banking side. then you mentioned bank of a...

thanks so much. just hours from now, eight presidential candidates will square off in tampa, florida. rick perry the front-runner and also the main target of his fellow republicans. and perry may have made the bull's-eye even bigger by attacking social security, a program considered sacred by millions of older americans. jim accosta is in tampa. and let's begin with word of a new endorsement we're hearing about this morning. >> reporter: that's right. if mitt romney was looking for a spark to help his campaign, he may have gotten it this morning. former minnesota governor tim pawlent...

know now is are we getting into another recession now? >> no. i submitted my forecast to the various polls last week and said no, the economy would grow faster in the second half, things will get better. are there perils? of course. >> those with money who don't need credit or who have the ability to get credit can really do well in this economy and those without jobs at the bottom, with tough credit, are excused for thinking that things are bad. >> absolutely. if you don't have a job, it is still a depression outside. or still a recession. we're not growing fast enough to help those...

And as you pointed out in the setup, there is a huge double standard. if these banking executives worked in the private sector, you can bet that the critics of such financial quote of excess, particularly in the democrat party would be hollering over this and in full class warfare demagoguery mode. shannon: these two agencies need the best of the best minds on the issue. we need to be the same people we would hire on wall street. the government has to do it, too. so we have the best minds solving these mortgage problems. >> unfortunately the government has no clue about the quality of the work...

The mortgage problems and the housing bubble, and they had some terrible purchases, and they're digging out of that. in fact that might have gone under had it not been for federal support. jon: g.e.'s stock is up, i'm told, in my ear. conservatives in congress are talking about 2 1/2 trillion dollars in spending cuts? i guess what their idea is to go way back to 2008 and take the federal budget to that level. >> they're going to do that for sure. but this group is a group of conservatives, 40, 50 or so, who are proposing $2.5 billion worth of cuts over ten years, and taking it back to 2006 lev...