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tv   Martin Bashir  MSNBC  November 14, 2013 1:00pm-2:01pm PST

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sometimes. going. greatest to make sure our families could succeed, make sure our businesses could succeed, make sure our communities could succeed and if you don't believe me listen to one of your coworkers. sharon brown earlier this year brought a special guest with him along with the state of the union address. one of your coworkers, cookie hall, where is she? >> she is back at the hall working. >> she's back at the hall working? well, let me say something nice about her behind her back. to cookie said one of -- let me make sure i can find this.
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she said -- that night, she said, if i get a chance to meet president obama, i'll tell him my greatest pride is in our 2012 production record at cleveland works. we're the most productive steel world. steel of this plant. that's pretty good. so all of you are an example of what we do when we put our minds to it. this plant was closed for a while. we go through hard times. and a lot of our friends are still going through hard times, but when we work at it, we know we can get to a better place. and we can restore some security to a middle class that was forged in plants just like this
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one and keep giving ladders of opportunity for folks who are willing to work hard to get into the middle class. that's what i'm about. that's what this plant is about. i'm proud to be with you and as long as i have the honor of being your president, i am going to be waking up every single day on helping folks like the ones who work in this plant. god bless you. thank you. god bless you. god bless the united states of america. thank you. afternoon. was the president. and but the day began with health >> it's fair to say the rollout has been rough. i hear you loud and clear. i said i would do everything to fix this problem. the old individual market was not working well. i will not walk away from 40 million people who have health
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insurance. it's legitimate for me to have to win back some credibility. that's on me. we fumbled the rollout. i'm going to wait until i get the next play and then i'm going to try to run as hard as i can on november 30th or december 1st. in this market as wealthy as everybody is, we can afford affordable health care. i had to take this on. somebody, sooner or later, had to do it. it has been a very busy thursday. we have just watched the president speaking live in cleveland, ohio. there he is, using a steel plant as his backdrop. the president talked about the importance of increasing energy efficiency and boosting american manufacturing and trade but he did manage to get in a word about the dominant issue of the day. >> over the last three years, health care costs have grown at the slowest pace on record.
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that makes america more affordable places to do business. >> the president also hailed republican ohio governor john kasich for his decision to expand medicaid coverage as part of the affordable care act in his state. it comes hours after a contract conference and press conference in the white house briefing room around mid-day where the president vowed to pressure and let insurers renew for one year health plans that would otherwise be canceled. >> this fix won't solve every problem for every person. but it's going to help a lot of people. doing more will require work with congress and i've said from the beginning, i'm willing to work with democrats and republicans to fix problems as they arise. this is an example of what i was talking about. we can always make this law work better. >> the change would only apply to those who have current policies, not meeting affordable
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care act standards, or have had their policies canceled. insurers would have to inform customers of other aca options and those buying new policies could not purchase those substandard plans. the reversal on the issue comes in response to disgruntled customers and growing rebellion among some democrats in congress. senator marry landrieu from louisiana has proposed a bill with a similar stated purpose allowing people to keep their current health plans and she responded to the president's remarks this afternoon. >> the president's announcement this morning was a great first step and we probably will need legislation to make it stick. however, do not underestimate the power of a presidential directive. >> no, don't do that unless you are the speaker of the house. mr. boehner said the house still
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plans to vote on friday on republican frayed uptons much more radical bill to allow insurers to sell new policies to customers using their same old discriminate policies and used his usual constructivism of the president's nature. >> the only way to fully protect the american people is scrap this law once and for all. you can't fix this government-run health care plan called obama care. this is going to destroy the best health care delivery system in the world. >> two things. it's not called obama care and it's not the greatest health care delivery system in the world but let's move on and get to our panel. with me in new york is joey reed and in washington, msnbc political analyst david cohen and msnbc political analyst professor michael eric dyson. joy, 47 million people in this
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country have been living without any health insurance whatsoever and john boehner says it's the best delivery system of the health care in the world. >> it is for insurance companies. it gets to the point what has happened over the argument of health care reform. the niche is goat to the 47 million people and avail them of the opportunity to have a health covered? at threatening florida. health care reform not to the 47 million people 1.5 and 3.5 million people who have insurance but are buying in the smallest but lucrative part of the health insurance market for insurance. decades they have been able to sell particularly to younger men
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and people without families and these business people. these policies have high deductibles and low interest rates and limited benefits and they are extraordinarily profitable for the insurance industry and affordable health care act made those illegal. the insurance industry sent out letters saying the affordable health care act will take your policy away and sometimes tell you what your options were and sometimes they didn't but now because of the pressure from really the media's narrow focus on that 1 to 3 million people, now change that will happen they get to keep making money. >> for another year. >> for another year on the junk policies. >> professor dyson, first, it was the website and then the 5% in the individual market. now the reince priebus whose name sounds like a greek shampoo says, quote, the president has a serious trust deficit with the american people after his lies about obama care. the president is the problem. but hasn't the president been the problem all along for to try
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to introduce to this country a health care system that might cover all of us? >> another add vaive is unabashed to reality. the reality is this. joy was talked about this thing we have narrowed our focus on a few million people not to dismiss them but the 44 million other people out there who had no kind of plan. you have to have enough privilege to have some problems. those who are having problems now have a certain level of privilege and buy-in. we are talking about people, for the most part, don't have those kind of problems because they had no health care at all. they used the emergency ward as health care maintenance which bankrupts not only the health care system, but also causes a kind of financial drain because of loss work and other forms of unemployment that result from ill health. when you put all of this together, i tell you, listening to president obama today, made me proud and it made me feel good because here was a man willing to take on what is an
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social problem and hard political problem and fix it with, i think, serious application of common sense and reason to a big problem. yes, the health care delivery system in terms of the technology has been baffled in one sense but, ultimate, i think it will debunkling will turn into something great and three, four years from now maybe even a year from this, this will be a marginal footnote a smooth and productive health care delivery system. >> yet, david, the last time i saw republicans salivating at the prospect of this president stumbling was after the, what, the first presidential debate with mitt roimney. would you like to remind us what happened after that? >> i think the guy won. >> yeah. i think he did. >> i think the fellow who was in favor of obama care won a majority of the vote. in fact, very large majority of the vote and the fellow would was against obama care, if i
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recall correctly got 47% of the vote. a lot going on here. i do think that, you know, much is at stake. not only obama care and affordable care act is an important policy for the reasons that joy and michael just enumerat enumerated, but also a philosophical issue here. the big fight we have been having the five years in this country is more ideological in previous areas is the role of government and where the government is the problem and which the republicans and -- >> but, david! we have been lied to about sarah palin telling us this is a controlled substance! i lived under a government-controlled subsidized system of medicine and that is not what this is! >> this is not the government taking over the health care system here. it's the government creating policy that will make the health care system work better. >> right! >> and be moinclusive but still
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the government being proactive and doing something about a social problem. if obama is able to pull that off and implementation goes smoothly and a lot of benefits which we have talked about on this show, then the republicans have really no reason to -- the new republican party is about one thing -- government sucks and you shouldn't trust it and anyone who tries to do anything via government is the enemy and wants to harm and destroy america. and why the stakes are so high, not from the 47 million without health insurance, but for the future of the republican and democratic parties here. >> is david right about underlying narrative? >> i definitely think he is right and, martins, it's interesting that you mention this idea of a government takeover. what is interesting about this and part of the reason the affordable health care act is difficult to administer the people putting this together understood the only way to get a big social change like this was to get from the vaunted middle class saying this will not
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affect you. you have employer-based health care system if you lose your job or change jobs your health care goes away because it was stuck to your employer and tied you to your employer to get this service. i think what frightens republicans and why they consider it a government takeover is people who hoof insurance. the government offering subsidies or the government covering you by expanding medicaid. they despise the working poor, the guy at mcdonald's and mom working at walmart taking care of her kids. >> work two jobs to survive. >> and three. people feel becausive of their own responsibility aren't well off. why taxpayers who have insurance, why should we give them anything? i think it gets to the fundamental question of a subsidy to people to them is welfare and even the white house has been reluctant to talk about the medicaid piece. >> professor dyson, you preach often in churches. when you listen to this kind of
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rhetoric as brilliantly elucidated by joy the rank contempt for anyone who might have a moderate income, what do you conclude? >> this is a repudiation of the ethic of care and concern and compassion that has been produced at the heart of christianity and all great religions. not just christianity. here is the real tragedy here. that the people who claim to be defending the middle class are preventing people from an escalator into the middle class. secondly what they are trying to do as joy has already talked about is to really renounce what they fail to be os stten sibabl subsidies. they don't want to dole out all kinds of benefits in advantage. >> america? when do you want to stop? >> the list goes on and on. don't call it a comeback.
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we have been here for years. the reality is they don't want those kind of subsidies haneleded over in small and minimal percentage to those who deserve it the most. welfare exists in this country. it's not rich, the relaty and for the well-healed and for the deeply entrenched and for the well-established but those who are left to their own devices are those who are subjected to the most vicious forms of, if you will, socialism for real because they get cast out on the bounty of the american public common will and that is drying up. there is an evaporation of compassion and investment in those who are vulnerable. when i hear this the gospel that stands against the great figure named jesus who stood on behalf of the poor. >> david? final word. >> i can't beat the sermon we just heard. >> nobody could. >> but i think there is another point here too. and that is the president has to keep convincing, not just americans, but even members of his own party.
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>> he does. >> you've seen him the last day or two, that this is the right thing to do. to cover the uninsured which are not working poor, it goes pretty high in some ways into the middle class. there's a social value to this. it's not just about keeping health care costs efficient which is a good part of it, but there is a value here. it's part of our social fabric and because the fight, republicans won't give up the fight. he has to keep relitigating but not doing it as a lawyer, releading this fight again and again and again so it's not just, you know, burdened and bogged down by the fights over the website or the 1.5 to 3 million people who got cancellations and could get a better deal under obama care and that is something that, i think, he hasn't done as well as he could. >> no. >> because the republicans the way they are fighting this, they are never going to let go and the president has to keep coming back with better arguments as well. >> indeed. >> as being competent and
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deliver the news. >> had they not posed him in the first place they could have got the americans to stand behind this and get the americans to cooperate come together. >> if i could say one last thing to give fyi. fred upton who is fighting to give you a sense of who the president is fighting, his top donor was blue cross/blue shield. >> oh, wonderful. joy reed and david and black socrates professor, michael dyson, thank you very much. as the president appeals to democrats in congress, we will ask one house member for her reaction to his affordable health care fix. stay with us. ♪ huh...fifteen minutes could save you fifteen percent or more on car insurance. yep, everybody knows that. well, did you know the ancient pyramids
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comments at the white house earlier today were directed as much to democrats as they were to the rest of the nation. particularly as house republicans intend to vote tomorrow on a so-called fix. proposed by congressman fred upton of michigan. that is is anything but. >> is there no doubt our failure to roll out the aca smoothly has put a burden on democrats, whether they are running or not. my commitment to them is we are going to just keep on doing better every day until we get it done. >> joining us now is democratic congressman barbara lee of california. good afternoon, ma'am. >> pleased to be with you, martin. >> thank you. can i play you something that the president said moments ago in cleveland about ohio's republican governor who accepted
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expanded medicaid funding? take a listen to. >> if every republican governor did what kasich did here, rather than play politics about it, you'd have another 5.4 million americans who could get access to health care next year, regardless of what happens with the website. that's their decision not to it, and it's the wrong decision. >> can i ask you, when did you first become aware that speaker boehner and house republicans were so concerned about that 5% on the individual market? because until this emerged as than issue, the only things i ever heard republicans wanting to do was repeal the law. >> martin, that's what they want to do, and i think this upton bill tomorrow that we are going to vote on is another attempt to stall, which means undermine, which means ultimately their goal of trying to repel it but that cannot happen. i was very pleased the president came forward and talked about efforts now to fix it.
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we know there are many problems, but we have to remember that these problems are being fixed and the error rate is going down. now, with the 5% who are in the cancellation pool, they will have at least a year to begin to look at the pros and cons of what they have. >> i want to show everyone today's lead story from a newspaper in your district, the oakland tribune. it reads -- health law's golden lining, and discusses how california with more than 35,000 enrollees are doing quite well. i take it the biggest reason for that is republicans in your state have not had the opportunity to destroy this process all along the way? >> absolutely. our governor, our state legislature, our congressional delegation, we made sure and we came out early and we covered california and there are kinks in all of the rollout, but we have done pretty well, i think,
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and i think that you're going to see other states do quite well once the computer errors are addressed and once we begin to move forward and see the many, many people. i mean, part of the problem is millions of people need health care. we are talking about 40 million people who are uninsured. so every major, major initiative has difficulties, but we have to remember we have got to fix it not nicks it. the republicans from day one, none of the republicans voted for the affordable care act so we know what they are up to and in california, we are hip to that so we will move forward and make sure that every person has health care coverage. they deserve it. this is the wealthiest and the most industrial country in the world and we need to make sure our people are covered. >> i'm assuming we shouldn't be surprised that fred upton, the republican who has proposed the bill that will be discussed on the house floor tomorrow, that his number one campaign contributor is blue cross/blue
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health, a health care company. >> let me say many of these health care policies that were subject to cancellations, one have lifetime caps and, two, they would not cover children, for instance, who had preexisting conditions. >> but mr. upton will get his campaign contribution and that is the most important thing! >> well, that may be for mr. upton, but let me tell you i think the mantle of the american people really know that the 40 some million people who have no health insurance deserve health care coverage and we are moving toward everybody in our country has a decent, good health care policy, so that they don't end up in the emergency rooms which costs our government, the taxpayers more on the end. >> congresswoman barbara lee of california, thank you so much. >> thank you. coming up, a brief north toward the border, toronto mayor rob ford is striking back at his
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critics and moment later, he digs himself even deeper. >> i used unforgivable language in a game. i apologize. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ prefer the taste of gevalia house blend over the taste of starbucks house blend? not that we like tooting our own horn but... ♪
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she's a friend and it makes me sick how people are saying this. >> moving on seamlessly from sex to drugs, the mayor then addressed allegations of cocaine use. apparently made by a local restaurant waiter. >> i have to take legal action against the waiter that said i was doing lines. i think that is outright lies. that is not true. litigation will be starting -- >> from sex to drugs, but then back to sex again. with the mayor addressing the suggestion that he had made erotic advances toward a female staffer. and i should warn you that the mayor's description of these allegations is neither discrete nor diplomatic. >> on the last thing was olivia gonedeck said i wanted to eat her [ bleep ]. i've never said that in my life to her. i would never do that. i'm happily married and i got more than enough to eat at home. >> was there anything that was true. >> thank you so much or maybe
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not because after this outburst was the customary rob ford remorse which led to another hastily news conference. this time the mayor swapped out his football jersey for a football tie. >> ladies and gentlemen, i want to apologize for my graphic remarks this morning. the revelations yesterday of cocaine, es coats, prostitution, has pushed me over the line. today, i acted on complete impulse in my remarks. i fully realize in the past i have drank alcohol. i wish you to know i'm receiving support from a team of health care professionals. >> there you have the mayor drank alcohol in excess and is now receiving help from professionals and let's hope it proves effective because he is scheduled to appear before the
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toronto city council again tomorrow and we will, of course, bring you any developments. stay with us. a run for the roses in today's top lines and we are not so sure about this trifecta. ♪ the sun has gone down the mood has come up and somebody left with the cup b but he is thinking of somebody who he still burns ♪ [ male announcer ] playing in the nfl is tough. ♪ doing it with a cold, just not going to happen.
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♪ if i was a flower growing wild and free ♪ ♪ all i'd want is you to be my sweet honeybee ♪ ♪ and if was a tree growing tall and green ♪ ♪ all i'd want is you to shade me and be my leaves ♪ grown in america. picked & packed at the peak of ripeness. the same essential nutrients as fresh. del monte. bursting with life™. from protests on capitol hill to rob ford at the beer market. here are today's top lines. let's go, argonauts! >> eternal peace. >> you don't talk while you're waiting? >> give me a chance to wake up, sweetheart. >> well, i'm trying to find somebody to get this thing done. >> oh, not what you were expecting? >> so, you know, not easy. >> eternal peace. >> if you like your risky
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promiscuous lifestyle you can keep it. if you like being a prostitute. >> i don't appreciate people calling atlanta a prostitute. >> then have at it. >> never had a prostitute here. i'm very happily married at home. the reason i drank or did drugs was not because of stress, it was out of sheer stupidity. >> stupid! what a dumb question. >> have you purchased illegal drugs in the last two years? >> will you now end your threat to place a loled on the president's nominees? >> yes, i have. >> oh, no. >> you've had an ongoing little bit of a feud with the governor of new jersey. >> i'm the governor of new jersey and my job is to run the state of new jersey. that's my job in the state of new jersey. >> does he have a problem, in your view, of getting conservatives? >> as we saw with chris christie's convention speech it's all about chris christie. >> i think the party is big
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enough to have moderates. >> it is a dirty word to be a moderate. >> we are pretty conservative in the republican party. >> when they shut down the government and harm the lives of my citizens, i can't stand it and i will fight him every step of the way. >> the nastier it gets they are directed at the american people. >> if they do it again i'll fight them every step of the way then. >> y'all are doing a phenomenal job. thank you for speaking up for freedom. >> robert custer is joining us and msnbc contributor jimmy williams and prefer james peterson is a director at lehigh university. robert, republicans appear to be a party without a leader at the moment. it seems a certain trio of rand paul and ted cruz and chris christie which is pulling ahead of the pact. do you expect to see these three men up on the stage in 2016 battling it out for the gop nomination? >> i expect all of them to take a hard look at running for
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president and i think they represent some of the power center right now within the republican party and i think it's going to be a wild circus like primary in 2015 and 2016. rand paul for the hard right. >> why a circus? i thought we had that in 2012. you think this could tump 2012? >> i think it's much bigger. one, you'll have a lot of smaller conservative players looking at running for president as a book deal or tv contract and some people we are not thinking about now i think are looking at running for president. plus you'll have a random governors and senators also looking in the mirror and seeing a future president. >> fantastic. prefer peterson, there are only a few republican governors who accepted the medicaid expansion under the affordable care act and new jersey's chris christie is one of them. i'd like you to listen what rand paul had to say about that. >> it's not really a conservative position. it's not really even close to the center of the republican
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party. it's more close to what the democrat governors did. so accepting obama care and expanding it and bringing it to your state, i don't think that is going to resonate in a republican primary. we are pretty conserve in the republican primary. >> so, we are conservative in a republican primary. if chris christie is not accepted? >> judging from the last republican side saying they are conservative in the primaries is an understatement. i think some factor have to unfold as to how we can assess how christie will play the fact he accepted obama care. i think ultimately he has to stick to his guns, not necessarily being the moderate or the pragmatic politician. he will argue it's not about moderation or being liberal but getting things done and i think he'll stick to that through the primary piece. i think rand paul has to carve out his own lane and if he is smart he'll stick to the libertarian principles that made
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his father popular. he decent need to compete with cruz. he needs to focus on libertarian principles and i think if he does that, he will also have an opportunity to emerge. >> okay. jimmy, republicans always seem to describe governor christie as a moderate. and they say it as if he has a bad case of syphilis. is moderate a dirty word for republicans? >> syphilis is certainly a dirty word. now, look. chris christie is pro life and he dislikes labor unions for the most part and makes them give him things in the state legislature. i mean, i can tell you this. he's severely conservative when it comes to mitt romney, that is an absolutely fact. but i will say this. rick perry said something interesting that i hate to agree with. a conservative in new jersey is a very different kind of conservative than in south carolina or in texas, and so the question is, i think what you're asking is can a conservative from new jersey play well in
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iowa, new hampshire, south carolina, and other states. >> florida. >> texas, florida, exactly. and i think the answer to that is i don't know. and i don't think so. but the republicans don't -- there is no presumptive republican nominee at this point. they don't have anybody. in the last three cycles they have come up with the guy they thought is the one that had earned his way. >> right. >> this time there is no such person. it's wide open. chris christie is going to be a force to reckon with. robert is right about that. >> robert, one person to whom the word moderate could probably never apply is rafael cruz, the father of senator ted cruz. i'd like you to take a listen to something he has just said. >> and there was mr. gonzalez mentioned something about hispanics being uninformed or deceived. well, the same thing is true with the black population. >> so, robert, i should say that was actually from february of
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this year. you actually spent some time yourself with ted cruz but also with his father, a lovely photograph of you there very seriously listening to him. should we file this latest statement, along with rafael cruz's other great contribution such as the president should go back to kenya or that atheism leads people to become sexual pevverts? >> ralph cruz is an independent operator and preacher in his own time. >> he is a surrogate of a son. >> i agree with you. that makes him quite dimple than other political parent. he is not only a surrogate for son but i look for him as a strategist for his son's career. he is at ted cruz's side in iowa and elsewhere guiding him. i don't think he is a karl rove figure but he is an adviser of sorts and an important one. >> professor peterson, this adviser of sorts described by robert says that
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african-americans and latinos voted democrat because they are uneducated. >> yeah, this is probably not going to be a good advice or a good line of strategy for senator cruz either in the hispanics or latinos communities or the african-american communities. remember, a lot of republicans try to say remember -- they try to say mlk was a republican but they are assuming that the black voting populace is misinformed. the dixie wing democratic party are the republicans essentially and switched through over the history and something black voters and black folk paid attention through the voting rights act and the civil rights act. we understand. we are not so dumb that we don't understand or willing to switch our parties undertook in the 20th century. i hope they can appreciate the intelligence of voters and focus more on the fact there are uninformed voters in america but a lot of them tend to be poorer
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folk and those folk who vote against their interests in the republican party. >> all three gentlemen, thank you so much. coming up, we will dig into the historic confirmation hearing for janet yellen on capitol hill. plus a wave of u.s. support arrives in the philippines. stay with us. as a business owner, i'm constantly putting out fires. so i deserve a small business credit card with amazing rewards. with the spark cash card from capital one, i get 2% cash back on every purchase, every day. i break my back around here. finally someone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer ] get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every day. what's in your wallet? i need your timesheets, larry! shhhh! i have a cold with this annoying runny nose. [ sniffles ] i better take something.
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to get your free, personalized plan comparison today. call, go online, or visit your local store today. don'neutralize them odorand freshen.ash. with glad odorshield with febreze. america's strength, of course, has always been more than just about what our government can do. it's also about what our citizens can do. it's about the big hardedness of other people when they see other folks in trouble. >> a united states aircraft carrier and escort of two cruises has arrived off the coast of the philippines to help communities devastated by the typhoon even as the death toll has now reached over 4,000.
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the "uss george washington" carrying 5,000 sailors moored off the southeast island and will expand search and rescue operations and provide a helicopter platform to move supplies. the carrier is also capable of producing 400,000 gallons of fresh water a day. already the crew is providing much-needed food and water to a region ravaged by a catastrophic storm and struggling to deliver aid to those who need it most. there are plenty ever ways to give. if you wish to, many of which are listed on our facebook page at or we encourage you to visit whitehou >> janet yellen could become one of the most powerful women in the world but she will never forget where she came from. >> i think you'll make a great chair and your brooklyn wisdom shines through. >> thank you very much.
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financial crash since the great depression. an industry made of too big to fail institution who are happy to keep things just as they are. who would want to take responsibility for running the nation's monetary policy and regulating the financial system? well, one person who put her hand up to replace ben bernanke as head of the fed is his current deputy janet yellen who faced a confirmation hearing before the senate banking committee earlier today. if confirmed, dr. yellen would be the first woman to ever hold the position. and after 36 years working for the fed, she seems more than ready for the task. >> our country has come on long ways since the dark days of the
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financial crisis but we have farther to go. i believe the federal reserve has made significant progress toward its goals, but has more work to do. >> for more, i'm glad to be joined by katherine rampell of "the new york times" and dna of the "the washington post." the financial industry is considered a male-driven environment. how significant would it or should it be that if dr. yellen does become the first-ever chairwoman of the federal reserve? >> this is, obviously, a major milestone but she is extraordinarily qualified. probably the most qualified candidate ever to be nominated for this job, at least on paper. so certainly she's not getting it because of her gender but either way, her gender, of course, is quite a milestone given that no other woman has held this job or its equivalent in history. >> indeed. now dana, that may be drew but dr. yellen has faced tough questions about her plans to
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continue the fed's stimless campai stimulus campaign this hour we learned that david vitter plans to vote no on her nomination. i guess we should glad he wasn't in a massage parlor when he issued that statement. how hard should this fight be? >> it shouldn't be as hard as the other fights. in today's senate, you expect a fight getting through the pledge of aallegiance and the morning prayer. the policies that this administration and for that matter the previous administration have been following in terms of monetary stimulus to the economy. >> i suppose republicans would prefer the european model just reserved a model of gdp growth of 0.1% is that a preference? >> actually, they would have opposed in the first case all of the tarp and the bailouts that we may well have been in the second great depression had we followed that route. janet yellen is in pretty good
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company the policy she is advocating. once you eliminate the david vitter is there a nuke leas there. >> is this fear due to the so-called tapering of his so-called asset purchases or should they be concerned that dr. yellen might take on the too big to fail banks? >> i think wall street perceives janet yellen as pretty much the continuity candidate which, in many ways, is probably a relief to them in that her policy s or her expected policies very much are in line with what the bernanke-led fed has been doing the last few years. in that sense she is quite predictable and she has emphasized the importance of predictability going forward and transparency going forward. how she will be as a regulator i think is still an open question. she has not particularly put her cards on the table with that
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respect, but if we are talking about tapering, if we are talking about forward guidance with interest rates, you know, she's been pretty transparent in the sense that her policies would look very much like what wall street has been used to the last four years. >> yeah. dana, briefly, if you can, is continuity in the federal reserve not a helpful thing at this precise moment, given the sluggish nature of the recovery? >> well, it certainly is not a helpful thing if you're rand paul and you want to abolish the fed. >> that's true. >> and whatever else is going on but the rest of us living on planet earth i think it is widely agreed the fed more than anything else kept us out of a great depression so why not continue to do that? >> thank you both. superb. we will be right back.
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thanks so much for watching this thursday afternoon. don't move. coming up next "the ed show" with my good friend and this network's offensive lineman, ed shultz. ♪ good evening, americans. welcome to "the ed show" live from new york. let's get to work. good afternoon, everybody. >> you can't fix this government-run health care plan called obama care. >> i said that i would do everything we can to fix this problem. >> there is no way to fix this. >> and today i'm offering an idea that will help do it. >> i don't think this is ever going to work. >> we actually have a political party and a force in this country that thinks it's the right morally correct thing to ,


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