Former New York Governor Eliot Spitzer and Chris Hayes discuss the possibility of a reported agreement that may not hold U.S. banks liable for mishandling mortgage notes.

Is President Obama really going to use the State of the Union speech on Tuesday to announce a deal between big banks and all 50 state attorneys general? And if so, is it going to be a good deal for American homeowners? Or a good deal for the banks? Former NY Governor and Attorney General Eliot Spitzer shares with Chris what he has heard the White House has been pushing for.

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