generous with us and it s going to be one big party. let s start at the beginning. let s go back to an unhappy time. when did they discover that you had a brain aneurysm? it was actually in september of 2008. what were the circumstances? well, it was funny, i was lucky like we talked about earlier, i jumped in a pool. i had water in my ears. i had to go get an m.r.i. and all of a sudden, the guy said you have a bigger problem than water. i said what? you have an aneurysm. what do we do? they gave me two options. operation obviously but go through my groin or through my head and obviously, that s why i have this lovely scar here and knock on wood, everything is good. what did you find out after you got your aneurysm healed and you had a stroke of luck going there. what did you find out about that whole issue? you know, it s a disease that a lot of people aren t aware of. and most of the time when people have aneurysms and they pop, you usually die. so you re lucky you ha
the couple used to communicate while he was in jail. dude, relax. rhode island set to become the 15th state to decriminalize marijuana. no big fines, no jailtime, nothing on your record. and other states are noticing. we ll talk with a state representative from rhode island about the growing nationwide movement. plus this. oh, you remember the kid who played darth vader in the volkswagen ad. this week, he goes in to have open heart surgery. 7-year-old max paige. this hour, we ll hear from his parents as we all say may the force be with him. newsroom begins right now. and good morning to you. i m carol costello. thank you so much for joining me. we begin this morning with one of the most respected men on wall street and his bank s jaw-dropping blunder. in 60 minutes, jamie dimon appears on capitol hill to say jp morgan chase s multibillion dollar loss is an isolated event. but those risky investments are reviving the debate over toothless banking regulations and taxp
obama over senator mccain. when you look at that is there a crack in that now or not? i really think this is all about the economy. if you look at how unemployment in the black community is deplorable, it s 13%, it s almost double among what it is for whites. and among black teens it s 38.2%. those numbers are outrageous. and so obama s policies are failing our count tree, failing the black community. his energy policy is a regressive policy, high gasoline and utility prices are harming hard-working americans and those unable to afford higher energy prices. really his policies are harming americans, harming blacks and i say he has thrown the black community rile under the bus in order to get money from the gay community and to get their votes. bill: do you hear the same thing in chicago? no i do not. the fact is the economy broke down we saw in 2007 and we saw an absolute break in september of 2008. the fact is the black community
here s the theory: greece cannot and will not pay its debts. if that goes over to spain, ireland, portugal, then you ve got european financial institutions, the big banks over there, exposed to trillions of dollars worth of risk. now, those institutions there, the banks in europe, they are hooked very closely into big american companies. there s a free flow of money on an instantaneous basis to and from across the atlantic. if there was a crisis in europe of that magnitude, if greece spreads, then you ve got the seizure of the international flow of money just like we had in september of 2008, and that slows down dramatically economists all around the world, in particular in the united states. megyn: how exactly? how? does it just slow down our stock market? our stock market certainly comes down. that s a side bar effect. the principal casualty is this free flow of money. this is a modern financial
depositors money is a good rule. but let s not throw the baby out with the bath water. make sure that what we do is thoughtful and not simply an overreaction to what joe correctly described as a manageable loss. yeah. let s not turn this $2 billion into something that it s not. this is an embarrassment for the bank. but they re taking care of it. wasn t, though, steve, september of 2008 supposed to be the teachable moment? and if we didn t learn it then, why are we going to learn it now, in terms of tightening up restrictions on banks? did you only go to college for one year? no. several years. my point is, if we didn t make sweeping changes in september of 2008 after what happened then, why would we make them now? i think that we did make sweeping change. i think the banks have changed. and by the way, one of the reasons why this $2 billion is a very manageable loss for jp morgan is because of post 2008, they dramatically increased like all banks their capital position. the