reform. this is an important issue affecting everybody. he was holding his ground on the demand for tough consumer protection division at the fed that what real muscle. no loopholes for any industries like payday le lenders or on derivative changes. the white house thinks this is a political winner either way on the important issue if they hold the ground and get a tough bill, then they whack wall street and that's good for the democrats and congressional mid-term election this fall. if the republicans block a bill, they get blamed for blocking a tough bill. they think they can run on that as well. >> bret: the politics. the u.s. relationship with china seems to be getting more tense on issue of trade. what does he say about that? >> the chinese invented fireworks and there are a lot of fireworks on capitol hill over anger's china continued insistence on holding down the currency at the low levels compared to the dollar. it hurts the u.s. exports and