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Deals known as derivatives. derivatives. i can't even spell that word. national political correspondent jessica yellin has done a terrific job explaining derivatives. >> thank you. >> she is joining us now for a look at how they would be effected. walk us through this. >> it's not as complicated as it would at first seem. i promise. one of the many different tools in the bill to change the way the financial world works but it's a biggie. so in a nut shell, derivatives, tony, they're high-risk bets where some finance guys bet on whether you and i will pay our mortgages or if prices will go up o...

Problem you take out an insurance policy. if your green beans go bad, your insurance pays up and cover your costs. if the beans go to market, the bank pays you nothing and that insurance policy is a derivative. basically, it's a bet on your green beans. now, creative finance executives said, why stop at green beans. let's do the same thing for other products. oil, gold, even mortgages. you can buy this type of insurance protection for just about any product. okay. so here is what made them so popular. the finance guys saw in all of this a new way to make money and they said, you don't have to ...

Focus on getting credit out to small businesses and individuals. people who won't to study to get a better chance at a job. that's what washington has done. let's discuss what washington needs to do. a lot of people say it's this. that is our creative way of saying a tax cut, tax break. that's the word "tax" and it's broken. $13 billion in tax breaks. that's half of the way there. and number two, creating and investing in infrastructure. those are some of the stimulus projects. things that will actually create jobs and industries for the future. so that is the jobs bill in a nut shell. and tha...

As republicans duke it out. joining us from washington is caroline. no bipartisan from this? >> the two addresses are the two party's health care philosophies in a nut shell. democrats want it now and republican want incremental approach. president obama hinted he would have democrats go it alone. we got hints of that in the morning's radio address as well republicans like parts of the plan including preyisting condition people beeing insurance. but don't like the man date of everyone getting covered. president obama will include newed whys in the proposal. yesterday the white house contacted ...

Unions? >> right. the big break, it was a big break in 1948 during the progressive party was formed and the cold war. walter riewfer who was a socialist drove the communists out of the cio because they were agents of the soviet union, which was a slave empire and our enemy. >> right. >> sweeney and these guys, like you say, van jones doesn't go away, the communists don't go away. the progressives stayed, and now they just embraced it. >> well, the president says i'm a progressive. he's not a marxist. it's made out of a marxist stew. but do i have it right? the difference between evolution, wha...