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Transcripts For CNNW The Situation Room 20120627

of epic proportions. wolf blitzer is off today. i m candy crowley and you re in the situation room. all eyes on the supreme court and congress with a potentially historic day on tap tomorrow. one that could be especially bad for president obama. we re expecting the justices long awaited ruling on health care reform. the president s flagship issue in one that impacts virtually every american. at the same time, eric holder could become the first sitting u.s. attorney general ever held in contempt of congress. the planned house votes stems from accusations the justice department is withholding documents on a failed operation that put guns in the hands of mexican drug cartels. president obama and his staff are bracing for all the possibilities. cnn white house correspondent, dan lothian, has details. dan, what are you picking up there as they do sort of brace for two really important decisions tomorrow? reporter: they really do. and on health care they do still believe and

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Transcripts For CNNW CNN Newsroom 20120613

ironically, from the chase department in charge of mitigated risk. my colleague, christine romans watching this hearing from her post in new york. the department that s supposed to mitigate risks made these risky trades and now he is having to answer questions. it s obvious why congress wants to know why these stupid trades were made. yeah. he says, you know what? i m not going to defend it, because it violates common sense. it shouldn t have happened. what was, maybe should have been a legitimate, bona fide macroeconomic hedge, morphed into something else, he says, and he did not defend it. talk about, you say a grilling. a civil discussion. in part because he is so contrite here. the conversation just now turning into something more about what do you think about dodd-frank and the volcker rule and new regulations he has been vocal against. but as far as that trade, he says, no, you re right. it shouldn t have happen and we re sorry for that. in particular, let me tell you

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