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Industry or another and i think that is absolutely slowing down the finalization of these regulations. >> absolutely. i'll jump in and say about 90% of the consultation with legislators doing the rule writing has been taken by the big banks. they are really controlling that process and they would like to see it go their way. >> all right, thank you so much for helping us understand this complicated, complicated problem. let's see what our political panel is up to in the green room. michael, you're the washington bureau chief for "time" magazine. i wonder if you'd be willing to give me your hon...

Point out to really sell democrats on this plan as something that will help small businesses. that hasn't come to pass. i think it's a big political problem for the administration, but more importantly i think it's a big problem of substance for the country. gregg: one of the other things that may happen is small business owners may decide, you know what, i just can't get continue to operate this way, i'm going to give up, i'm going to stop offering healthcare to my workers, and then, you know, workers are forced to go out and get it. >> well there is a huge incentive already built into the la...

Your setup there is the problem. this is going to be the first of any of a number of delays. i mean, we have already seen chunks of obama care taken out. you have seen the class act repealed. you have seen problems with -- you have seen challenges in the courts, some which weren't successful. you have other challenges potentially coming one from oklahoma, you have the hobby lobby question. you have difficulties in the implementation of any of a number of these things. you have had governors resisting medicaid expansion. have you had governors opting not to join, not so set up state exchanges. ...

Of that comment. but wall street reform and consumer protection act, was signed into law two years ago. at the time, president obama called it the toughest financial reform since the ones created in the aftermath of great depression. the law was passed over near total republican opposition and is one of the chief reasons that so many wall street donors who rallied to the president in 2008 have turned on him, now fighting full force to stall and weaken the actual implementation of dodd-frank in a whole variety of fierce battles over regulatory rule writing. which means the degree to which we wi...

Sort of the decisionmaking bodies, so to speak, you are free to sort of do what you want. i take your point and lots of people would -- first of all, say well, this isn't good enough, let's go back to glass/steegal. ing the system is so broken it cannot be reformed. our approach is we don't think you have to choose. you can try to work within this system and you can try to build the -- a new system in a group called occupy bank thinking about how would we build a new bank from scratch. >> yeah. one of the things i think is -- fascinating in terms of the context of this, political context we ta...