Topic: Subprime Lending

President Obama nominates billionaire Penny Pritzker for Secretary of Commerce, a move seen as a reward for her role as a major campaign bundler. Pritzker's history with the failed Superior Bank subprime lender and ongoing labor boycotts at Hyatt hotels are highlighted as controversial aspects of her background.

During a press conference, President Obama responds to questions from Jake Tapper regarding the lack of prosecutions for Wall Street executives following the 2008 financial crisis. Obama claims that much of the activity leading to the collapse was "immoral" or "reckless" but not necessarily illegal. The hosts criticize the president's long-winded answers and perceived elitism.