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The proposed response to union members you probably haven't heard about. union members are losing patience. >> it wasn't as much as the unions had asked for and may not be enough to satisfy them. the president barack obama administration revealed we intend to impose future rule making to prevent self-administered plans from the requirement to make contributions to the 2015-16 benefit years. it escaped the white house press secretary. >> i haven't seen that article. >> the insurances paid for jointly by unions and usually small businesses that employ them. for administration critics, it is a po...

I haven't seen that article. >> if you let the unions out now and give them special favor after they have pushed this on america and on everybody else, then what you are doing is you are basically pushing these costs on the remaining people and the unions are as high as 20%. as i understand it between 10% and 20% of people who have will to pay this according to the law unless they get a reprieve or a waiver by this administration. >> well, this is a story about the unions and a possible exemption they may get. this is a rule that was posted in the federal register by h.h.s. last wednesday. and...

Repudiating that. >> and in case america forget, j.p. morgan reminded all of us of the importance in setting limits on bank activities. in 2012, four years after the crisis, j.p. morgan chase, london well caused the bank to lose more than $6 billion in a few months. >> and here is one of the things about dodd frank. it was crafted in such a way so that a fair amount of the granular rule making was left to regulat regulators. and my question is, how do you come back to essentially micro-manage the stuff that was intentionally left in the bill for regulators to make decisions on. >> first, let m...

Of the importance in setting limits on bank activities. in 2012, four years after the crisis, j.p. morgan chase, london well caused the bank to lose more than $6 billion in a few months. >> and here is one of the things about dodd frank. it was crafted in such a way so that a fair amount of the granular rule making was left to regulators. and my question is, how do you come back to essentially micro-manage the stuff that was intentionally left in the bill for regulators to make decisions on. >> first, let me defend that because you're right. first of all, things evolve.

Lose more than $6 billion in a few months. >> and here is one of the things about dodd frank. it was crafted in such a way so that a fair amount of the granular rule making was left to regulators. and my question is, how do you come back to essentially micro-manage the stuff that was intentionally left in the bill for regulators to make decisions on. >> first, let me defend that because you're right. first of all, things evolve. things change. we didn't want to just prevent the bad practices of the past. we wanted to empower regulators to deal with new evolving practices in the future. secondl...