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egyptian desert. a world war ii fighter plane almost perfectly preserved. i'm wolf blitzer. you're in "the situation room." -- captions by vitac -- www.vitac.com >> we're getting new details from a news conference that has just begun. a dramatic case in mississippi and let's go live to jackson, mississippi. >> the department of wild life, fisheries and parks and special agents response team conducting searches of the area, thoroughly combing heavily wooded areas. it was the diligent effort of these men working in conjunction with the fbi. today we have special agent in charge dan mul...

Can ever threaten to bring down the whole economy. to that end, the bill would also enact what's known as the vocal rule. there's a tall guy sitting in the front here who is -- who we named it after. and it does something very simple. it places some limits on the size of banks and the kinds of risks the banking institutions can take. this will not only safeguard our system against crises, this will also make our system more stronger and competitive by instilling confidence here at home and across the globe. markets depend on that confidence. part of what led to the turmoil of the past two year...

All: i did. after failing to win republican support, chris dodd proposed his own fixes for wall street. critics say they wouldn't even deal with the big problems that led to the collapse in the first place. eamon javers joins us now. let's talk about some of the elements. he does include the vocal rule, so this is one thing the white house likes that has been proposed. there are a lot of other things that aren't even in here. fannie, freddie. some of the issues that led to the problem in the first place. how would you rate in? >> this is a little tougher than people had expected. they weren'...

The assumption there's always availability of credit. that's the purpose of the federal reserve, to be the lender of last resort and that is what causes the moral hazard. that's what causes people to make all the mistakes and take these risks because they figure the fed will be there to pick up the pieces and the people get stuck. >> congressman, what about shareholders and board members deciding on executive compensation? are you okay with that? >> well, i think it's a great idea, but i wouldn't mandate it because i'm not a regulator, but i think that i wouldn't be interested in buying into a...