The countdown to December 23 has begun for the Congressional "super committee" that's tasked with reducing the nation’s debt. Yesterday, House Minority Leader Nancy Pelosi named the last three members: Rep. James Clyburn of South Carolina, Rep. Xavier Becerra of California and Rep. Chris Von Hollen of Maryland. Will the committee be able to compromise, particularly as each party begins to prepare for the heavy political sparring yet to come out of the 2012 presidential election?

Up on Capitol Hill, lawmakers are talking a good game about the need to regulate banks and enforce limits on executive salaries. But how close are we to real reform on these issues, and what's going to happen at the G-20? For an insider's view of the process of reforming banking, we speak to Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee. (click through for the full interview transcript)

A report from the New York Attorney General’s Office says top-dog bankers are rolling in huge bonuses, and the House of Representatives is set to vote on a pay-reform bill today that aims to put a cap on some of those compensation packages. Chairman of the House Financial Services Committee, Barney Frank is leading the fight in the House and joins The Takeaway to talk about the bonuses.

Click through for a transcript of the conversation with Rep. Frank.

Watch Rep. Barney Frank discuss single payer health care in the video below.