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Americans in this country given what could happen with social security if this does indeed happen. the president's going to make the case, democrats need to act, republicans should join them in order to avoid fiscal disaster. that should be his main message at the white house. >> monica, sahil, thank you both so much. coming up, the top government official who oversees wall street says not dealing with the debt ceiling could completely shock markets. we're going to ask him about the ripple effect that could have and if he's listening to the facebook whistle-blower who's saying s.e.c., time t...

Heartbreaking and it's unbelievable that facebook is still holding off on this when their own research shows it. that does it for us this morning, stephanie ruhle picks up the coverage right now. hi there, i'm stephanie ruhle live at msnbc headquarters here in new york city. it is wednesday, october 6th. let's get smarter. this morning the pressure is son with u.s. default less than two weeks away. the senate set to vote today to begin the process to suspend the debt limit, but republicans, they are not likely to get on board, not even an inch. the big question, what other options do democra...

Talked about, as well as antitrust action, regulation when it comes to transparency, data privacy, perhaps carving out some parts of section 230. maybe the whole menu needs to be considered. it has to be absolutely right, a lot of smaller companies can get caught up in these regulations and be punished. facebook could thrive, which is what we saw in europe with the data privacy regulation there, it actually favors in some ways the biggest companies arguably. so it has to be done right, but also we have to consider that that argument you can't take from facebook or other big tech companies. the...

Everything facebook is doing is legal. last week you had a startling, scary example that you showed us your office created a facebook account of a 13-year-old girl on instagram and you showed us how dangerous instagram is. the problem is there's not a single law protecting anyone over the age of 12 so we can talk all day long that we think mark zuckerberg is a nasty guy who shouldn't be on vacation, but he is because he can be, and you're the policymakers. how do you convince the rest of congress let's do something, guys? >> well, first of all, that hearing yesterday was so compelling and fran...

What tangible actions can you make outside shutting them down? >> look, i think that there's a number of things that we can do to help the investing public. you mentioned gamification. our platforms, whether they're brokerage applications or robo advisers often are using digital analytics to maximize their revenues, and if they're trying to maximize their revenues rather than your investor returns, that's an inherent conflict, and i think we see that in other parts of our economy, too. it's not just in finance where platforms are trying to maximize their revenues rather than their well-being -...