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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.

>> shannon: a battle over abortion is playing out on capitol hill but this isn't about a national law. it is about setting limits right here in washington, d.c. a bill was introduced that would ban abortion in the nation's capital after 20 weeks except to save the mother's life. the debate has sparked a major showdown over how much control congress has over laws in the district. the bill's sponsor arizona republican congressman trent franks was supposed to join us. his flight has been delayed so he will not be here. joining us, d.c. congress woman eleanor holmes. she was not allowed to testify...

Discretion comes in. >> you want them to look beautiful and want them to have a beautiful dress but you also want them to maintain self-respect. >> reporter: they say it stems from shows like "keeping up with the kardashians." >> we want to be a celebrity for one day. >> reporter: so what happens if you're not made for the red carpet? we know there are mean girls in high school. how do they treat these girls who don't have the fancy dress? >> it's like sad to watch. like the people be mean to the people who are less fortunate, you know? >> they're like, oh, you know, she looks fat in that dres...

It is bipartisan in support. meanwhile, i want you to move on to a spending showdown taking place in the senate. the debate begins on the continuing resolution as we try to get a budget plann to get us to september 30th let alone what president released for 2012. >> on the republican side we are trying to get the government to stop spending more than what we have. we will pass today a 6 billion cut. what we are going to do after this, i think pass a bill that reduces spending for the entire year. we are senmonths away . busy setting limits on long-term spending. >> brian: i know one thing. sen...

If they have their way, they will stamp unlimited on all cards. they won't lose a cent. that's what we're here for, to pay their bills. danielle in santa rosa, california. only if they want to lose their customer base. credit unions and small local banks should be considered, as a more honest and transparent place to park your assets. steve in nashville, indiana says, we could sure use an alternative to banks but setting limits on debit cards is like setting limits on checks. if there's money to back it up, how dare they say you can't use it. can you spell credit union? >> rick says, no. this ...