france. g-20 turned out to be something other than what i and the entire world thought it would be with the crisis in greece and more pressure on the eurozone. here to discuss this and impact on the world economically, politically and financially our chief national correspondent and sheila behr, former children of fdic. before we talk about this i want to bring in christine romans to explain why this has been such an important deal in the united states. while i've been out here in cannes, the u.s. has been watching closely what's going on here and in athens. >> there's a growing understanding that u.s. and europe are in it together. anything negative for greece and united states isn't good. europe is the number one tradesing partner. we don't quite under how the domino effect would be. if greece goes down, the first domino in interconnected trade, banking, financial system. $400 billion of exports go to europe every year. that makes it a huge destination for our goods. if there were a severe recession in europe because of a financial crisis, it would definitely hurt the u.s. there's a trillion dollars of direct investment in the eu from the u.s. and another $2.7 trillion in loans and commitments. everything from banks, companies, municipal governments, retirement funds all wrapped up and tied up in business with europe. it's two very close allies, two regions that depend on each other financially. it shows we're in it together. what's good for europe, good for the u.s. not good if this thing doesn't get solved quickly, ali. john i'll bring you in. you've covered things like this, international summit. when you're here with the president of the united states, most eyes are on the president of the united states. interesting things are happening at this g-20. first of all the president of the united states is here, treasury secretary. premier of china, hu jintao is how. all eyes are not on these people. is this a sign of shifting global sands that the u.s. is not the primary player in a week like this? >> i think that is certainly a sense. you see it there when you're in the summit and hear it back in the states when you watch whether it's people in washington. i'm in des moines iowa covering the election. when you talk politically about the future, there is a question, is the united states still the preeminent economic leader in the world. can president obama go there and make a case about european debt when washington is concerned about u.s. debt. when you travel the country, this is not a business term, but you sense there's constipation in the economy. corporations won't spend the millions animals they have because they have anxieties. they have concerns about europe and u.s. debt and tax structure. i met a woman who got laid off from a hotel because she said the owner can't get financing for a big renovation. tlgs a sense of uncertainty. you see the president on the world stage, feel it on the local stage, it's impacting the world. guess what, it's going to impact the next presidential election in a big way. sheila, let me ask you, you spent years trying to keep the banking system safe. at the heart of this is the banking system, the risk. explain what they are doing right or wrong to keep the banks afloat and why it's important. >> european banks are thinly capitalized. there's differences among institutions. as a group they are much more thinly capitalized than u.s. banks. one of the reason, the rules that european regulators follow are much more per missive in terms of letting bank management decide their minimum capital levels. so i think what we need to do now is have a rigorous stress test with banking thought, realistic loss rates, true distressed economic scenarios and capital level minimum ratios in the u.s. other than soft weighted risk ratios the eba has been using in european banking, and other european regulators have used. confidence in the european banking system is important. they need fortress balance sheets right now. this is not the time to be fudging numbers or be less than completely forthright about the levels of capital and what additional capital needs to go in to stabilize that system. >> what's your sense of their understanding of that? we've heard from the french president nicolas sarkozy, angela merkel. these are countries whose banks are most concerned. stronger companies. is there a sense the players understand what you said and are generally prepared to move in the right direction? >> no, i don't think so. there's been a lot of focus on the problems of the sovereigns. ultimately the impact it's going to have, the banking system is what's going to cause a severe credit contraction that could cause broader problems for the european and global economies. i don't think enough focus has been put on this. they need to get those levels up with real capital. it may require dilution of shareholders, temporary nationalization. much more aggressive action needs to be taken on this issue. >> that shared pain or aggressive action is exactly what is causing countries like greece to be concerned. it's disallowing people from doing what might be necessary because they are fearful of the impact on this. john, i have to tell you. you're on that campaign trail. this is not the kind of discussion, this fear of contagion, this debt, the idea what christine described a slowdown in europe affecting the united states, this is not making it into the campaign trail at this point? >> they are not talking as much in the fine detail as you were talking about with sheila. they are talking about in the view of the republicans campaigning, i sat down with texas governor rick perry, he says president of the united states can't go to the meeting with big leverages because he doesn't have anything positive to say. the united states has not dealt with similar problems of that's an issue you'll hear, criticism of the president's leadership. more importantly, ali, 9% unemployment, creating jobs, 80,000, not near enough to bring the rates down or put confidence into people. are people here discussing the european debt crisis in the fine detail the leaders in europe are, the conversation you just had with sheila? no. are they aware it's a huge drag on the economy and not just the factory up the street? they are about that. when you travel the country and talk about economic anxiety they talk about global precious, more about china than europe. they are aware this is a big global problem. >> that's a very good point. china tends to be the focus but europe is, in fact, as a group the largest trading partner. what the implications may be the realization while everybody is mad at washington for what they did or didn't do right legitimately, the fact is the rest of the world may have a bigger impact on jobs back at home than congress can even. let's continue this conversation in a main. john, sheila, stay where you are. you're watching a special edition of "your $$$$$" from cannes, france. along with support,nnoun] chantix is proven to help people quit smoking. chantix reduced my urge to smoke -- and personally that's what i knew i needed. 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[ male announcer ] trade commission-free for 60 days. plus get up to $600 when you open an account. ali velshi in cannes france. we have a group discussing the affects on you. the host of jkusa and sheila bair, former chair of fdic, a body important to americans during the financial crisis. john, sheila bair has a broad role she and the fdic she played during the financial crisis. i want to ask you, sheila, people watching the show, called "your $$$$$." if you're not inside your money, you're probably not watching the show unless the batteries are gone on the row motor. we don't all know the details about banking. most people would be surprised people keep less money in core capital or safe capital than we think they do. when you look at this crisis in europe, with the hindsight of what we went through in the united states, is this problem in europe imminently solvable or should we in the united states or the rest of the world be fearful this is not solvable and could send us into another financial crisis. >> i think it's solvable if people face up to reality. one of the harder pieces of reality is that the low capital levels in european banks. they really need to get the capital levels up. if you get into a period of economic distress and banks have too low capital levels, that will threaten solvency, threaten whether they remain viable, whether they can keep lending. building what we call fortress balance sheets, getting capital up, it matters. it's a job of regulators, a good example of why regulation matters to our broader economic health. >> christine romans will take it from here, i'll go back to covering g-20. >> i want to bring in ian, president of euro asia group. when will the threat for recession, crisis in europe and what it could mean for america, kbhen will that subside. >> it can't subside for a while. that's part of the plan. if you're germany, france, core european states or european institutions, you know that the only way you end up fixes european institutions is by continuing to use market pressure to ensure austerity continues. so you can't write a check. talking to angela merkel last year at davos, she was basically saying the only day she really has leverage is right before she cuts the check. everyone understands that. it's not going to be a german marshall plan. this isn't the post-war environment. you have to change european institutions. this is not a matter of weeks or months. we'll be talking about this european crisis frankly for more than a year. >> what does that mean for the president and re-election. every minute we're talking about greece is a minute we're not talking about jobs in this country are pretty blah. is there any bearing on a president in campaign mode. >> he is in campaign mode, trying to do two jobs at once, be president and campaign for election. look what happened in recent days. greece has a plan, markets rally. he says wait, a referendum, markets go down. europe gets a deal, up, down, up, down, italy, spain, if we have this roller coaster heading into the election year, you'll have volatility in the markets. ben bernanke said persistently high, 8 to 8.5% unemployment bit time the president seeks re-election. this is number one issue in the country. it is for him as a leader and it is for voters. voters after being promised the stimulus would help, you can't blame it all on the president, guess what, when you're president of the united states in a tough economy, you take a hit. >> any steps the administration should be taking to best position our economy for possible fallout from europe? on the one hand the u.s. can't also go there and say you should do this, because we're still blamed for the financial crisis in 2008. we don't have the moral authority on these issues. >> the u.s. doesn't have moral authority on social dissolution. i thought sarkozy's speech talking about any plan from the imf is going to take into account the fact people are hurting on the ground is a reflection of occupy wall street in the united states. so the u.s. does have this issue. there's not much obama can do, quite frankly. he's very much frustrated because he lost -- his party lost the midterm elections. he doesn't have the ability to actually get anything through, through 2013. that's relative humidity any's best opportunity to beat him. obama can talk about the fact numbers are starting to go down very, very slowly, talk about the fact american growth looks a lot more resilient than european growth, those are all true facts but this election is going to be about the economy. the economy is going to be fundamentally weak. really it's about the power of the american in coupcumbency whs very strong against that. >> what is the risk in european banks? it's such a global interconnected financial system. i'm still trying to get my head around, i don't know if any of us will know, what the exposure is for credit did he fault swaps, credit derivatives that banks and investors put on just in the very case something happening in these countries. what is the risk? >> there's a lot of relationships, not much direct exposure to the peripheral sovereign debt either through coverage or cbs. there's exposure to the european system generally in european banks generally. i hate to sound like a johnny one note but there needs to be a laser like focus on building the balance sheet, resilience for what's going to be a long time period as ian indicated. as you indicated earlier, huge export market, certainly an economic drag if their economy facilitiers and exports to europe reduce. it also could have a knock on impact on our banking system which could lead to further credit contractions here, which would not be good. >> uncertainty is not something anybody needs. sheila bair, ian bremmer, john, thanks for your analysis of the situation. latest jobs report evidence that we may have avert add double dip recession at home. of potato. ♪ what's that? 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[ male announcer ] progresso. you gotta taste this soup. two of the most important are energy security and economic growth. north america actually has one of the largest oil reserves in the world. a large part of that is oil sands. this resource has the ability to create hundreds of thousands of jobs. at our kearl project in canada, we'll be able to produce these oil sands with the same emissions as many other oils and that's a huge breakthrough. that's good for our country's energy security and our economy. you know what else is early? medicare open enrollment. now through december 7th. can i stick with my old medicare plan? sure! or find a new plan with better coverage, less cost, or both. medicare plans give you free cancer screenings and wellness visits and 50% off on brand-name prescriptions when you're in the doughnut hole. it's part of the healthcare law. so it's time to look, compare... and choose the right plan for you. learn more at 1-800-medicare or medicare.gov. aspercreme breaks the grip, with maximum-strength medicine and no embarrassing odor. break the grip of pain with aspercreme. 80,000 jobs in october, not nothing but not enough. you need 150,000 to keep up with population growth. this is what it looks like, 80,000 in october. it slipped a little to 9%. private sector created 100,000. if you looked at august and september, those months were better than we thought. there was more job creation end of the summer early fall we had thought. i guess you could take that as good news. you've got a full year of job creation. diane swonk with messi row financial. so many companies don't want to hire people to turn around next year and fire them. >> most people forget they are people, too. they don't like firing people after they hired them up. look at icebergs we have floating around out there. europe on the front page every day and going to be for some time to come as the earlier segment pointed out. our own impetus, dealing with the situation in the u.s. there's so many uncertainties out there, it's really hard to get vision. we don't have vision without cash on the balance sheet. hard to make the hire because you don't know what the economy is looking like going forward. looks like they won't extend payroll tax. even if we make it through the fourth quarter looking okay, worry about the beginning of 2012. that's just not a good environment to be hiring up in. >> all right. economist at the professor of university school of business, a friend of the show like diane is. peter, long-term unemployment, this is a trend. these people out of work six months or longer, a real problem, a real problem when you start to talk about structural unemployment. is that reversible at this point? do you see any signs we can reverse that? >> not until we get demand growing a lot quicker. with the debt overhang, the heavy level of imports we have and so forth, demand is growing not adequately. it isn't that people aren't buying, demand for domestic products isn't strong enough. in that environment people unemployed for more than six months are the last ones to be hired back. at least further down the ladder. people who have recently worked are more attractive. >> that's why you're seeing the job -- there's a big controversy about job ads, all these job ads that say you must be currently employed to be considered for this job. that means it's impossible. >> that adds insult to injury. >> absolutely. >> employers will lose good people, too. some people are victims of all this, perfectly good employees, this is the whole problem of the labor market. ted places people throughout the world. he knows firsthand to know what it's like to hire, who is hiring and what it's like to hire now. you point out, ted, temporary workers are not being let go in large numbers right now, a sign corporations are going to the temporary worker and they need those workers? >> absolutely. where companies absolutely need capacity, they are going first to a flexible solution. that means they are coming to temporary and contract workers as a first step. we saw that in a jobs report with 15,000 temporary jobs. that's more than what we expect with a seasonal increase in the fourth quarter of that's a good sign. more and more people are getting their permanent job opportunities having completed a successful temporary contract assignment with clients. >> that goes to underscore what we've been talking about, companies are just too -- they are too timid right now. they don't have the clarity of next year. too much uncertainty, too many icebergs. >> too much uncertainty. consumer confidence is at a level you can't look at this and say 70% of economy driven by consumers, it's going to take off here. we're in good shape. we're going to keep being cautious as we move forward and look for flexibility in the workforce. >> diane, i want to bring you back and talk about young people. there's a good report about how we have this whole generation that may be unemployable. all these people that don't have the first foothold in the economy. you have people out of work six months or longer and people who haven't had a chance to work. what kind of a challenge is that for a modern economy? >> it's a huge challenge. they are not learning the simple things like what it's like to go to work every day, be responsible, do menial work. i was a maid at one time, worked at a burger place now defunct. it's important to learn skills. they teach you you don't want to stay there, believe me, if you have an ability to get out. we're losing that. this summer i made my 16-year-old take an unpaid internship, i was afraid if she took a job she would take it from an older worker. she took the unpaid job to get the experience. i think that's important. without experience you get a compounding effect of people not having experience and not wanting to hire them either because they don't have experience and practical skills in the workforce. >> you look at some big issues in front of the labor market right now, would the president's jobs plan, anything congress can do, are these temporary measures? what can be done, if anything, in the near term about this? >> more debt relief for people with underwater mortgages would help a lot. infrastructure jobs bank would help. freeing up domestic oil and gas. a lot of that creates same jobs as infrastructure, roads, dams. when you do oil rigs, things like cement, pipelines, so forth. that would help a lot and wouldn't cost a lot of money. >> diane, you want to jump in there? >> i don't think they are going to do anything. i'm concerned they won't extend the payroll tax cut, defacto tax hike. the fed is trying to do everything they can. it's a big burden for them to carry on their shoulders. i think that's unfortunately central banks of the world carrying the burden of growth globally. as we've seen in europe that's a precarious situation. there's just a lot out there that's very difficult still. the only piece of good news i will put in here, small businesses do like they are being created again. we did see small business pick up. other small businesses are a little more optimistic. new business births looking like they are catching up, a little better unemployment report today. that's hope. >> a year of sideways jobs growth, another year of sideways jobs growth or does it pick up? >> it's likely we could see this pace of job growth in the next 12 months, 100 to 150,000 a month. as you point out earlier that's not going to have a significant impact on the overall unemployment rate. we need to get in the 2 to 300,000 a month range to move in that direction. i agree with diane. we need something from washington. we need that payroll tax put back in place for 2012. remember, health cost rise every year, for employees they have less take-home pay because of the rising cost of health care. >> that hits the economy because it's money not going to something else. ted thank you, the rest stick around. forget temporary solutions, we're going to ask economists for permanent solutions to money crisis next on "your $$$$$." welcome to idaho, where they grow america's favorite potatoes. everyone knows idaho potatoes taste great. but did you know they're good for you too? they're high in vitamins and potassium. and idaho potatoes are now certified to carry the heart checkmark from the american heart association for foods low in saturated fat and cholesterol. so they're good for my family, and for yours. heart smart idaho potatoes. always look for the grown in idaho seal. the jobless rate stands at 9%. that doubles when you look at underemployment, including those that want to work full time but can only find part time. that's 6.2. each month brings slight progress at best. what are the real long time solutions. i want to turn back to diane swonk. let's start with you. what needs to happen of the days of 200,000 jobs added each month and 5% unemployment. >> it's going to be difficult. there is no easy bullet. if there was a silver bullet to be smot, it would have been shot. changing in regulations, easing up on regulation and if we did have more stimulus, i think that would help. we're not going to get it, unfortunately to go on with the ongoing monetary stimulus in the u.s. economy. i think it's important the issue we talked about discrimination against long-term unemployed. we have to eliminate that. that can't happen. you close those workers out for good of the labor force. we see many states pass laws that say i'm not going to look at you unless you're employed already or have been unemployed for less than six months, a year. you have to do things like unpaid internships, keep the young engaged at some level. even if they are not getting money they are getting skills important going forward. there are things on the margin to keep them employable. the key issue is to not have a lost generation at the older and younger end of the spectrum. >> that long-term unemployment issue, it was part of the president's jobs bill that be made illegal on a federal level to discriminate against somebody out of work. you can see recruiters do it, job posting boards, a group of senators saying, please stop doing this, you're leaving people out. it's not fair. peter, my advice is fill your resume, if the job says do not apply, apply anyway. >> you better be careful with that. >> you think so? >> lying on your resume is a serious issue. >> i mean filling it with volunteer work, unpaid internship, offering your services, fill that so there isn't a big one-year gap since your last job, make sure you've done something. >> one thing older workers can do laid off, do that volunteer work. you can only send out so many resumes. you should do something every day. if you budget your time properly, you can then do some of the things young people do and that can lead to other work. i don't mean internships but volunteer works where you continue your skill and keep your cutting edge. working at a nonprofit even on a volunteer basis if you're a financial person can help you get another job. it's a date and place on the resume and fills that gap. we're talking about we micro can do about something that is a macroproblem. some people do everything we tell them and still out of their control. at the end of the day america has to increase demand for its goods. >> absolutely. several things we can do. one deal with a huge trade deficit, half of which is oil. certainly electric cars are helpful but they are a decade away having a meaningful effect. what oil we need, we could start producing here again. we're not doing anything from the environment like shifting production to nigeria, just putting it someplace less manageable. that does put to work a lot of people unemployed by this recession. namely construction workers. also there are real things we can do with regard to underwater mortgages far beyond what the president has suggested in terms of restructuring that debt. have the banks carry interest on the mortgages. they are going to lose the money. they are going to lose the money when the houses are sold. get those balances down and not just refinance at lower rates. that would help a lot. >> it would help to clear the market as well and i think that's very important. >> peter and diane, have a great weekend, as always, thank you. >> take care. blame game. the president blames the congress, congress blames the president. shouldn't both sides be focused on who can fix the economy and how, not to make it worse. next we'll duke it out on "your $$$$$." the postal service is critical to our economy-- delivering mail, medicine and packages. yet they're closing thousands of offices, slashing service, and want to lay off over 100,000 workers. the postal service is recording financial losses, but not for reasons you might think. the problem ? a burden no other agency or company bears. a 2006 law that drains 5 billion a year from post-office revenue while the postal service is forced to overpay billions more into federal accounts. congress created this problem, and congress can fix it. welcome back to "your $$$$$," hosts of sirius xm standup. president obama saying he can't save the economy all by himself. listen. >> the truth is the om way we can attack our economic challenges on the scale that's needed is with bold action by congress. they hold the burpurse strings. it's the only way we're going to put hundreds of thousands back to wo, now, not five years from now, ten years from now but now. >> he's blaming congress for failing to jump-start the economy going to buy him five years or is the other side going to blame him for the policies he's already had. >> you can look at it many different ways. politics is perception. most people don't pay attention to day to stay politics but what's happening in their house. he's the president he will take a lot of blame. people saying out loud, david axelrod saying that republicans may be trying to hurt the economy for political purposes to get re-elected. it's hard to disagree with that. >> really hard. >> hard to disagree with the steam. >> absurdity. the president's statement encapsulates all the problems with jobs bill, stimulus, keynesian economics. all this built in is wrong. that's like asking pete to be seven feet tall. he's not built that way. it's not going to happen. you assume efficient, but congress isn't built that way. jobs right now, one thing about infrastructure, might be stimulative but doesn't do it now. president obama admitted we learned what shovel ready was. >> more to talk about than jobs, there's the super committee, really big structural things. >> there's things you can do, you could spend money on infrastructure. jobs won't be created right away. you agree they will be created. there's a lot you can do and has done in the past to get together. >> i want to talk about press next candidate newt beginning rch. he wants to attach a mandatory training requirement to all unemployment compensation. >> you say if you need unemployment compensation, fine, but you have to sign up for a business offered job training program. if you have 99 weeks of unemployment, that's an associate degree. in 99 weeks you can train anybody. establish the principle we do not do money for nothing. >> will, does newt gingrich have it right? i point out the president's own jobs bill pitch included -- it showed the georgia works program. they said we'd like to do reforms to unemployment insurance. >> the president and newt gingrich have an interesting idea. at the point you have unemployment lasting 99 weeks, you have a question about incentive, are they holding out what they want. >> will, there aren't any jobs. >> there's three people for every one job or five. >> not holding out for jobs that don't exist. in georgia and germany they have done jobs training programs, they help in a lot of ways, help with psychologist, happier, more productive but doesn't fix the economy. >> i'm not really impressed wit. to be honest, i'm not impressed with training programs we have. you have to start from scratch, finds one that work in the country and do it. people from political stripes say 99 weeks of unemployment is a very long time. at what point do we say that's enough. >> germany does work sharing, for another segment, another show i'd love to talk about. listen, there's this idea that people are sitting around and not wanting to work. that idea is pervasive because we all know that person. it's anecdotal but not true. people looking for jobs. there aren't any. the fact is how are we going to find money to pay for retraining. last thing i would say, unemployment, it's insurance. it's not a benefit. you pay into it, you get it back. it's one of the most stimulative things you can do, unemployment, food stamps, it goes back into the economy. they are spending that money. >> true. the last chunk of that, federal emergency benefits, they are paid for by the federal government. the first part, the state stuff runs out. >> money goes right back to the economy. food stamps are stimulative. >> members of the house, republicans and democrats signing a letter urging super committee to consider all options to trim the national debt. one organizer said he will make the ultimate political sacrifice if that's what it takes. >> i'm willing to give up anything, including my next election, if what we are doing today gives us that opportunity for success for tomorrow for the next generation. >> if a democrat is going to sign off on serious cuts or a republican endorsing tax cuts, do they need to be prepared to give up their job? >> schiller is a democrat, a former quarterback, a very successful businessman. i looked up his net worth, worth $33 million or much more. i'll give up my job here as a legislator and go back -- it's like when president obama said i'd rather be a good one-term president than a poor -- this is just politics. >> no, no, no. >> it is good they want to get together and that 100 house members said we're up for spending cuts and tax increases. that's good. i applaud that. >> that cynicism is out of place. any rational person knows in order togs under control new tax revenues and entitlements. that means republicans giving up jobs addressing taxes, democrats giving up jobs talking about entitlement cuts. good for schiller. >> him saying i'm willing to give up my job, who cares. it's not a big, some brave thing to do. >> makes him one of 300. >> i'm saying that looking at the polls, the public wants them all to lose their jobs quite frankly not just whoever is losing something. will and pete stick with us. i need you two to help answer the following questions, why are more and more americans like pete dominick living at home with their parents. next on "your $$$$$." because there are those who still believe in the power of a firm handshake. the cadillac cts-v. manual or automatic, that's entirely up to you. we don't just make luxury cars, we make cadillacs. some folks call me a rock star, some call me the mayor... and i love it. and, i make everybody happy. i keep my business insurance with the hartford because... they came through for me once, and i know they've got my back. for whatever challenges come your way... the hartford is here to back you up. helping you move ahead... with confidence. meet some of our small business customers at: thehartford.com/business i don't think about the unknown... i just rock n' roll. even if you think you can live with your old mattress... ask me how i've never slept better... why not talk to one of the 6 million people who've switched to the most highly recommended bed in america. it's not a sealy, a simmons, or a serta... ask me about my tempur-pedic. ask me how i can finally sleep all night. ask me how great my back feels every morning. did you know there's a tempur-pedic for every body? 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>> maybe. there's a lot of things to look at. take an hour or longer. i would love to see what the freako economics take a look at this. there's a lot of positive things too. these young people are saving money. not having to pay your biggest expense which is rent and the new health care reform allows a lot of them to be under their parents health insurance policy. there's a lot of family, cultural problems. my parents come down for four days there's always problems. >> i love the first economic impact you point out is the impact on your love life. >> i noticed that as well. i want to take it back to politics. there's no doubt that young people have entered an economy where it's difficult to find a job. they have historical record levels of college debt on top of that. i would have to say, do you notice we don't have massive inflationary numbers on computer. no lack of demand. we have massive inflationary pressures on health care and education. two industries where the government is most involved and is subsidizing. you subsidize something prices go up. >> two industries where there's a huge demand. all right. so much for that, bank of america $5 a month debit card fee. we have listened to our customers over the last few weeks and recognize their concern with our proposed debit usage and with that the fee went away. this is an example that the customer wins, that a company, a corporation is caving to public pressure. wasn't good business. >> is this an example of the free market at work? >> yes. yes. both. both. yes. the people -- we're screaming. we're protesting. >> they were walking. people were walking. hundreds of thousands of people have joined the weekend. >> this is the weekend. move your money weekend. that whole big campaign. listen, bank of america this is just one of their problems is the $5 fee. they foreclosed on military families. they did lots of illegal things. there's tons of reasons not to be a bank of america customer. >> we got to do something about this. can you believe they are putting these fees on these consumers? you know what the free market just solved it. don't lament the need for government intervention. the free market solved your problem. >> up guys agreed that the bank of america dropped it's fees it's a good thing. >> there's more to this and will made the point last week about dick durbin. i said last week, do you side with retailers or banks? i side with mike's hardware. i want the retailer to get more money than the bank. >> i plant myself on the side of voluntary interaction. if retailers and banks can't come to a mutual compromise -- >> we'll see you. there are more fees that are popping up and i have no doubt that -- if you're -- >> they will find a way to raise the money. >> we'll be talking about that soon. don't go away guys. the markets never stop moving. of course, neither do i. solution? 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[ cellphone rings ] thank you. live streaming audio. advanced charts. look at that. all right here. wherever "here" happens to be. mobile trading from td ameritrade. number one in online equity trades. plus get up to $600 when you open an account. two of the most important are energy security and economic growth. north america actually has one of the largest oil reserves in the world. a large part of that is oil sands. this resource has the ability to create hundreds of thousands of jobs. at our kearl project in canada, we'll be able to produce these oil sands with the same emissions as many other oils and that's a huge breakthrough. that's good for our country's energy security and our economy. welcome back to your money. i'm christine romans. ali velshi is in cannes france at the g-20. i'm taking over the show. we have will and pete for your viewing pleasure. >> we want to take over the show from you and ali. we're forced to read and buy this book, which is by you and your work husband it's called the bald and the beautiful. >> it's called "how to speak money." i throw it to my co-host. >> thank you, sweetheart. christine you write in here everybody speaks money differently, they have different dialects and accents. >> my worry is since the crash in 2008 we're as financially literate as we were before. we run up credit card as soon as we get a chance to downtown again. even though we're trying to make mortgages simpler and student loan debt easy to one i worry about these kids coming out college. i'll tell you something interesting. i'm profiling a university that's giving college credit for kids with financial literacy. >> how much of it is financial literacy or individual responsibility? people using their credit cards, how much is it responsibility versus understanding what's going happen if they run these up? >> also for so long the whole game was rigged towar eged towa more money. it was beaten into us. >> you can't do that any more. >> old habits die hard. >> the point was ali and i are very different. we speak and understand money. velshi can negotiate for things i didn't know you could negotiate for. that's typical a lot of women negotiate differently or don't know how to be bolder about it. you have to negotiate a different way. i learned so much about that. i wish i had known it when i was 20 because i would have negotiated a long time ago. >> women are catching up in terms of equality in terms of wages and salary slowsly but surely but not in terms of the tricks of the trade like you said negotiations for more. just certain politics at work. is that what you mean that they just haven't been in certain industries or jobs as long? >> you know -- >> are we men keeping these secrets. >> women are motivated by different things. >> such as? >> no. women are motivated by different things. women hit their peak in their career at the same time they are hitting their peak in their family. their ability to have family. that's a whole different dynamic. the cool thing so are men. you guys are working dads. it's cool how the generations are different about it too. the workplace is changing and some of the old rules are, i don't know, i think they are going out the window. >> we have to wrap up. i'm sorry. the book is "how

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