. >> steve rattner? >> i like the ones at the end of the table. leave them right there!steve, please. >> keep them rightly here. >> you said "the new york times" the president lost a lot of credibility and they added later on this issue, but we were just talking about george w. bush. >> the whole sentence they lost all credibility on this issue. >> well, they started without on this issue. then i think there was some back and forth and they added those lines. nicolle was talking about how she was in the white house when the call came from then editor bill keller and george w. bush and we were talking about the difference between george w. bush and barack obama which they are fewer and fewer every day. but one is that george bush just didn't care what "the new york times" thought. that has to be a shot across the bowel to the white house that he is losing a lot of friends on this issue. >> well, he certainly is going to pay a lot more attention "the new york times" than perhaps george bush did but barack obama is a very resolute, determined, self--contained guy and if he

steve rattner agrees.got a lot of gadgets that he brings onto the plane with him. >> well, steve rattner is also a pilot. so i have some knowledge of this whole thing. the rule is ridiculous in the first place. they once saw a needle flicker, and they thought they had to ban all this stuff. right now pilots actually use ipads in the cockpit during takeoff, during landing, during flight. >> with wi-fi. >> to guide the plane. >> they're on their gadgets? >> they're on their gadgets. we're on our gadgets. >> it's a ridiculous rule. there's some people that enjoy going around and actually looking down at every passenger in contempt. >> david gregory, are you like an alec baldwin on the plane? is i'm seeing it. >> there are those instances where can you turn that off or somebody will stand over you and say, no, you have to turn that all the way off. just putting the top down on it is not enough. you have to turn it all the way off. this is great, this rule, because that stress of can i get away with one more te

. >> joining me is former treasury official and analyst steve rattner. also, we have new york times reporter jeremy peters. good to have you both onboard. we'll start with ben bernanke. he expressed confidence in the nation's economic growth yesterday saying the fed will start to rein in its stimulus program later this year. bernanke laid out the federal reserves plan, which includes tapering off its multibillion bond-buying program until the unemployment rate drops to 7%. the fed expects that to happy the middle of next year. >> that's great news, right? >> in some way. >> so that's the good news. what bad news could there be from that, steve rattner. >> i think we'll find out. >> the fed will also hold off on raising interest rates keeping them to near zero until unemployment falls to 6.5%. as for wall street's response, this may be where things change. the markets took a dive as soon as bernanke started speaking. by 3:05 the dow fell 140 points closing the day down more than 200, steve rattner. >> i wouldn't freak out over that considering that the ma

steve rattner and wes moore still with us, along with sam stein in washington.tor of columbia university dr. jeffrey sachs. he's author of the great new book, "to move the world, jfk's quest for peace." and in washington, we have the host of msnbc's "hardball," chris matthews. his book, "jack kennedy, elusive hero." we've got the kennedy authors on this morning. so, chris, it's always so fascinating how americans respond and how political parties respond to issues involving national security. basically, if their guy's in the white house, they're fine with it. if the other guy 's in the whit house, it's suddenly a scandal. these latest revelations really point to -- and that skit on colbert -- point to the fact that we've had the continuation of policies on many fronts, and americans seem to be fine with it. >> yeah, i think so. i think it comes down to this. if we get hit hard like a 9/11, the question people ask is what could have been done that wasn't done? we had the technology to pick up on this information, we could have stopped it, but because we thought i