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Journalistic integrity. >> i want to ask you about michael bloomberg's $37 million ad buy. senator sanders blasted him and accused him of trying to buy the election. how do you see it? >> you know, it is going to be really fascinating seeing how the bloomberg campaign unfolds. i don't think it is possible to replace thousands of face-to-face interactions in iowa and across the country with ad buys. i just don't see it. i think that he's going to find that spending money in advertising is like pushing on a string. when you get lower and lower returns as you spend more and more money, and you ca...

2007 how there was a housing bubble. >> he advocated for it. he thought it was going to solve our problem. >> lots of us naught there was a bubble. >> they also had the financial crisis from when it would burst. >> i mean, i did. i didn't see you out there with me. but, further more, i mean, we had lots of secure ties through securitization, we had cdos and all of these products. and i think it was probably the heart of what caused the bubble. >> well, it was frannie and freddie. >> i don't want to talk about the cause right now. i want to talk about what we can do now. there is this open ques...

New mexico, mississippi, there are a lot of states that get $2 for every-- >> the welfare states have-- i don't believe it's going to be armageddon among states and local governments in the next year, but the welfare state, the train is coming off the tracks now and i'll tell you, you know, i don't think you can raise taxes that much more. i mean, at some point it's like pushing on a string. so you have to do this, you have to cut. >> the last word to charlie on that one. >> and general motors and chrysler, still on the look for 33 billion taxpayer dollars and now doling out $3000 bonuses to u...

My argument would be don't worry about the short term. but that's an argument we can have. the republicans' answer is don't do anything but cut taxes. that won't do much either. you asked me a question before. i had two answers. the other reason the stock market is at 11,000 is because the federal reserve is in the process of printing up a lot of new money. they hope the money will spur activity in the economy. but it's like pushing on a string, as economists would say. what it's really doing is causing people to pay more and more financial assets like stocks, bonds and gold. all that is going...