credit market which, again, you go back to figuring out how we fixed fannie and freddie. it is simply going to make that much more impossible that already is. >> the argument that we may do this again, it makes no sense at all to me. the reason we have never done this in the past is that we have never had a foreclosure crisis like this. i don't think their is a lot of temptation for municipalities to do this absented foreclosure crisis. why would you do this unless you really have a problem with declining home values and the cycle of foreclosures and declining values and-equis hitting the more foreclosures. it's like someone in the emergency room saying, well, a cardiac arrest and that it not want to use a defibrillator because i thought and a few months it would come back and

say, can you shot my chest again . there is really not an incentive to do it unless we have circumstances like the ones that we have got. >> a couple of the comments i was going to make. one less thing, we should look elsewhere. you could use that, loans that have an fha guarantee. those might be deemed federal property. so this sort of threat, if a community even shows to do so, and not even sure it would be illegal. so what i describe as the scare tactic, what about everybody else. >> the perspective, local communities to take federal property indicated perpetually illegal. the 100 percent agreed. private-label security, 10 percent of them are owned by

fannie and freddie, which the f fhfa is a conservative for. if you start taking loans that private-label securities are taking federal government property which the f hcfa has publicly indicated they are concerned about and may have to step in legally if you start taking federal property and interfere with their conservatorship hours. >> i don't think it is all or nothing. the fact of the matters, the development of value calculations have been around throughout the foreclosure crisis. the loans are identified under the eminent domain program are those that show a net present value beneficial to the investor and homeowner, and those are the only loans that were selected for the program, that could be explained to any investor that you are not losing but gaining money and once again go back to lawsuits that say this is what happens when you don't do what you should be. you end up with lawsuits. i do believe that there are ways in which the program could work,

the securities market would not be impacted at all, and investors year or around the world would say, net present value, i get an understand that and it makes sense. the challenge goes into the details of how the program is structured. >> more questions here. >> the association of mortgage investors. my compliments for putting together this panel. one statement before ask my question. there are many investors that only acknowledged the problem but also support bankruptcy, shared appreciation and other solutions. i wanted to direct my question to some of the panelists, and i was surprised lesson of the comments. can you reiterate how something like this proposal and packs unions, seniors, and what are some of the unforeseen consequences, maybe they are

foreseeable, what sounds like tempting, worthwhile programs, but may need to be better understood by communities before they proceed because while we are helping a few, it may impact many americans. >> i think that was really an outstanding question because you put your finger around the issue of seniors, and that represents another population that could potentially benefit but been turn in their mortgage makes no sense of their already 70 years old then have the possibility of never paying off that loan. so adjusting their principal might be a reasonable thing to do. again, i say, the details are really, to become aware of this eminent domain conversation should be. >> i think the question of seniors and unions is because they have an interest as homeowners of potentially in trouble, but also the pension

holders for a semester in pension funds. so stephen and tom, if you wanted. >> stephen took a shot earlier at the process. describe securitization at the simplest point. older americans, retiring police officers. they have pension money through their retirements. that gets invested somewhere. usually the mortgage-backed securities, when you buy mortgage-backed security you allow a representative to take that money and sell it to somebody else. a first-time home buyer. so effectively you're taking money from lending from communities, people who have savings and loan that to people who want to buy a house. the problem with the eminent domain proposal is your effectively saying for those who put money out there, malevolent this money through pension funds, retirement, mutual funds, i want to help the homeowner and

i will do it at the expense of pension funds which is fundamentally wrong, particularly when you're using the police power of the government. >> a slightly different interpretation. first of all, many of these are the very people who find themselves under water. that is to it really is in many cases. so we use the example, that pension fund, you talk to the trustees, they have to maximize the value, but they think about their constituents. so now the situation where we have a devastating problem, holding back our economic recovery, the construction jobs of that particular union, and we are willing to pay fair value for these mortgages. the you own a bond that as part of a trust, 100 mortgages and maybe there are one or two, we will pay your fair value as determined by the government

which can turn that mortgage in to cash which allows you to keep that union member in their home to renegotiate which is the effect of this which is why the pension fund, and my opinion, should be enthusiastic about this and should tell their bond managers, this is goodbye america, my constituents, and my return. >> i was going to say quickly from the perspective of the investor side, if you are using that present value than it is a net positive for the pension funds. mortgage investors have been allies of a lot of issues, which is why it grieves me summarize the got this wrong. i think that working families benefit in a couple of ways in that their homeowner's. the collapse of home values is affecting the net worth, life savings.

and in a dramatic way, as we discussed earlier. second, they care about jobs. affected by the jobs crisis. a big part of the jobs crisis has been the effect on consumer demand from the loss of that word. finally, as unions old pension funds, if they are paid fair market value, it is not hurting them. that is what fair market value means. they are selling something or having a forced sale, but they are getting paid what it is worth. it should not hurt pension funds. i understand the concerns that investors don't think they can count on them, but with some justification, don't think they can count on trusties and servicers to protect their interests and to advocate for fair market value at the local level when it is challenged and there is condonation, and it's

coming out of the portfolio anyway. they don't care. the money goes straight to the investors. they don't care. and they throw in the child quickly. i understand that concern. i am not sure how to fix it, but i wedding courage the group's that are considering this, he is up here, this -- is is not the only proposal like this. work with you to try to make sure that there is some way to reassure you that you are getting paid fair market value for the mortgages that are taken from the securitization. >> let me see if i can get an ally on the panel here. do you think it is appropriate for investors to believe that the government, the history of the use of the eminent domain in america that investors should just trust the government that

they will get fair market rate for hundreds of billions of dollars? >> that is an easy one. of course not. i think the reality of this, it goes into the details of how the program is designed. my concern is that -- and steven has alluded to this on several occasions, you don't really understand how the program is designed. to meet that is not my problem. that is their problem. the program design is where the rubber meets the road. if it is done in a way in which it can be demonstrated that the only loans that would be eligible for purchase by a municipality of those that show a net present value to the investor and homeowner. to me that is a different conversation that one that leaves the door open to the amor for spying of loans or the individual is upside down and there is no a parameter except they're under water.

>> , and legal concept. jerries are delivering to have deliberating over fair market value. pattern jury instructions. ways to prove it. there are comparable sales. there is evaluation based upon an come. this is not some strange concept. >> if you take the numbers that steven put up here. >> you have to take the numbers. >> the other side could cross-examine the economist, produce their own -- call their own economist and produce evidence of comparable sales and income and everything else and think it goes into approving value. >> was steven has done is, take these numbers. what the government tells you is the real value. he is showing you third quarter

2012. if you look at the price of outstanding private global security it appreciated approximately 20%. they want you to pay this number, yet it appreciated 20% since then. does that sound like a good deal? >> and exxon argued make to a jury. >> i'm going to take this from a different perspective. i think you're overlooking a major group of folks. as elected majored cities, and even alexandria, the housing crisis, which developed because mortgages were given to people who cannot afford to buy homes or keep their mortgages have

erupted. affordable housing is an issue. the eminent domain is kind of scary. one to my first question, one, i think freddie and fannie need to go away. number two, if you have to change the guidelines for a minute domain from retaking york, like the case in rhode island, are you going to change the guidelines and say, we will take care homes because you cannot afford the mortgage to redevelop another community were eminent domain was just for traffic and growth and self like that. the chain's a loss of that eminent domain. number one. because in alexandria, having an alley taken away.

how are you addressing the loss or are we not saying everyone has to be a homeowner or is the government and people saying, you know what, it's okay to be a renter. renting is in, and we are not talking about that at all. >> there is a piece of that the wanted to speak to. you got as something i was alluding to earlier. if, in fact, the program does not require, the previous owner has the right to buy that home back, the loans could be purchased. that was the concern. i thought i get to your point about whether the government uses authority to buy the loans. you're upside down by x%.

therefore you can't afford the loan. we purchased it. now we're going to use your property for other purposes. >> for the most part, the proposals are not taking the home, they are taking the mortgage. the person, the homeowner is still a homeowner and still owes the mortgage, just a different person. >> the proposal had been -- to take the emend domain mortgages and targeted where the owner really wants someone to buy the mortgage and negotiate with them. i think the idea the key case is a connecticut case. i don't think that has a lot to do with these circumstances. nope.

laws were in place in every state. yes, they are. including leasehold interest. what is fair market value and how to do it, it's in the constitution, fifth amendment. just compensation. public purpose. >> one more question in the back. >> i'm greg esquire from george washington university. they knowledge the housing market was coming back. i'm wondering if anyone has a sense as to what extent does this come back reflect gentrification that is simply displacing a lot of low-income people, perhaps for reasons that have almost nothing to do with the foreclosure crisis or job loss but simply because of appreciating property values in the neighborhood.

>> i don't think -- i think from your question you and i are probably sharing sympathetic political views, but i'm not sure that is what is happening right now. i'm not entirely convinced we don't have further to fall, but the fall is slowing because as i said earlier that ironclad rule of economics, something can't go on forever. it will stop. home values have been falling for so long for so far that at some point it's going to stop. but there has been already an enormous amount of damage, still a lot of pressures, still a lot of foreclosures, and a lot of the housing market is the move of market. they don't have any equity to use as a down payment for a bigger house, so there is still a lot of downward pressure. it will not come roaring back. it may not be -- i mean, we have had five years now.

housing starts being about one-third of the natural demand that we have seen for 15 years before the bubble. there was some excess we had to burn off and the sort. we are way past that now. new household formation, and it comes from replacing dilapidated housing. at thing that is the reason that it slowed down more than anything else. >> i'm told we can take another last question. >> thank you. i am one of stevens partners. congressman miller, a challenge was put down for mrp to sit down with your organization and talk price. so my question for you, when should we come sit down with your organization and to press? >> we have had effusive downs. at think we can probably sell

tickets to those said downs. probably make a lot of money. i think there would like to be in the room. the mortgage investors. >> i want to take one more actual audience question. a person who i can see. >> thank you. the mortgage bankers association. this question, you mentioned that you work with these communities to develop a solution that makes the most amount of sense to these communities. my question to you is, do you plan to extend that to the level of working with the political leaders in these communities to develop tailored appraisal and evaluation methodologies that make the most amount of sense for these communities individually? >> tailored, i defer to what the congressman said. the law specifies exactly what

you do in an eminent domain procedure. you basically use either comparable-store other kinds of recognizes. the valuation part, and i know we spent a lot of time on that today. by the way, john was not being facetious when he said to tom, when is the time to sit down? if we agreed on price, all of a sudden a lot of this goes away. investors start think they are being fairly treated, which is what we contend. this can make an enormous difference. we can run this year and a lot of ways. there not customized. we go through to look at the houses to get the best estimate of fair market value, but they're not customized solutions >> i was in facetious. i think the key question and a key differential that we have here in terms of price is what the eminent domain brings to that debate is involuntary, police power of the government to take institutional investors

believe is stealing the investment at a below market price. >> i want to get a last word. >> this is not -- i said this before. this is not an unusual government power. it is probably the most commonly used government power. there are lots of procedures developed over centuries. jury trials happening in every corner of america right now determining fair market value, determining condemnation proceedings and property damage cases, a division of property cases and on and on. this is not all that unusual. i think the reason for some much consternation by the mortgage investor is that securitization is so, to use the technical term , they cannot trust anyone to protect their interest. but if they were getting paid fair market value, a willing

seller would agree to sell to a willing buyer, that is the legal standard, then i don't think there would be much of a problem. their concern is that the servicers, trusties' will not protect their interests in tehran that tall. i think if we can get past that, that will have some justice behind it. it would be a way to begin to get control of the cycle of foreclosures and declining home values that we still have. >> i would just say that desperate times demand as for responses. the reality of it is that even though the market is stabilizing generally, many communities across the country are really harmed by an extraordinary amounts of upside down debt. i think that the eminent domain proposal is a viable one that should be considered, discussed,

and i think it could have a huge impact on the market, but i would caution that while it is used, and communities across the country on an everyday basis, there are abuses of eminent domain and -- right across the country in communities across the country on an ongoing and daily basis. so they use that to be clearly defined, very well monitors, but if done properly this could be an extraordinary opportunity for the housing market, particularly in those communities that are most distressed. >> before i close, i want to remind everyone, there are materials in the back. there will be folks from mrp in the back, probably folks from various investment groups. so choose who you want to talk to. on fed your first we will be having our next housing panel on the question of down payment. so we will start looking at the first-time home buyers and what is really going on out there.

i want to thank the panelists who were fantastic. this was fun. i hope it was as fun for everyone else's was for me. we have to have you back soon, and thank you for coming. [applause] [inaudible conversations] >> today on c-span2, q&a with supreme court justice antonin scalia. he will talk but his time on the court and his book, reading law, the interpretation of legal text.

>> back in the heyday of the private student lending market, you saw lot of families who were not necessarily going to colleges, going to, say, music school. i wrote an article about them, a gardener who sent his son to college, the first in the family to go to college. he made -- the dad made about $21,000 per year, and he was able to borrow six figures from a private lender for his son. and, i mean, there is just no underwriting. and this lender, by the way, you know, settled with the new york attorney general's office because, i don't know if you guess remember, it was call the preferred lender last where lenders were in some cases accused of paying schools for preferential treatment and for

that to sort of steer students toward a particular loan product, and that was the case. so when you think about, you even sort of understand the anchor and have a generation of students may rightly feel very duped in some ways and stock and with very little relief at this point now that there so far in debt. >> later today on c-span, the student debt crisis starting at 630 eastern. education reporter marion wing joins the panel on the impact a student at on families followed live at it:00 with calls, e-mails command tweets along with "wall street journal" reporter josh mitchell later today on c-span. >> afghan president is visiting the u.s. this week. tomorrow meeting with president obama at the white house. also tomorrow, speaking at georgetown university. that is at 5:30 p.m. eastern, and you can see it live on our companion network, c-span.

>> the "washington post" recently held a forum on women. labor secretary held that silas spoke about her career from and turning in the white house during the carter administration to serving in the obama administration. since this discussion from december, the secretary announced she is leaving her post at the end of the president's first term. >> good morning, and welcome. we have a remarkable gathering of women this morning, and they are -- their personal stories and backgrounds are as varied as america itself. they come from los angeles and cleveland and baltimore. they grew up poor, not so poor, asian-american, african-american, hispanic, and white. each of them have one thing in common. they are all phenomenally successful. each rose to the top of their

field, whether parts or politics or sports, and we are going to talk to them today about how they did it, ask them what the drive was, what kind of advice they have for younger people. we have one of the country's most respected tv journalists, an opera star, a physicist, youngest woman serving in the u.s. congress, a rock star ceo, and the most decorated figure skater in u.s. history. we are going to -- i want to welcome not only the people here in the auditorium of the "washington post" which is in downtown washington d.c., but the many people watching us online, and we encourage but the people here in the room as well as those on the live stream to send in your comments and questions, and we will try to incorporate them in the discussion today. the has tagged the twitter is #womenin2012.

a little bit later joining me will be one of the ranking members and u.s. journalism and publisher of the washington post. a superstar guests sitting next to me. i want to welcome hilda foley. and before taking over the labor department and becoming the first hispanic woman in a presidential cabinet she was a member of congress from california, well-known in environmental circles, and she has done a lot of work there. the first woman to receive the john f. kennedy profile in courage award for work in environmental justice issues, and we will hear a lot about women today, but held the was the first latina collected and tested of california for the state senate. so, the compelling personal story and i wanted to start there. your father was on the teamsters

union shop high and your mom is from nicaragua, an assembly line worker. how did your -- i am also the daughter of immigrants. ..

we were responsible, that we were independent, that we were always very mindful of work and what that meant and the respect and dignity that goes with it no matter what kind of work is, whether it's scrubbing the floor is in the bottom of a basement office or a 40 in the executive suite is to provide respect and dignity to everyone straight talk about feminism, and really having their voices heard. i always felt weary supported by my mother and father and in fact my father would often challenge me in a way that sometimes it isn't often spoken about and -- >> [inaudible] >> he would challenge it, he would challenge me and say give it your best. whenever you do, giving your best. keep in mind not everyone may

understand or know what you have to offer but keep your head up high, respecters of always and each other and that will come back to you. >> how important is the encouragement whether it's parents or teachers or guidance counselors? >> absolutely important. >> i know in fact that i wouldn't be doing what i'm doing or working where i am now had it not been for someone early in my life who challenged me and said hilda, you're going to be leaving high school, what are your plans? >> it was half irish, half latino who was a career counselor and asked me are you going to prepare yourself for collagen to get ready to go to college and i looked at him and i thought how can you say that? i don't have the means to go there. i come from a blue-collar family. my parents don't have the money to send me to school. i wasn't on the right track. in fact i was on the other track

to be a secretary. and another counselor by the way who you get a signed because of the alphabet noss 30 years later can say my title is secretary of labor. [laughter] but this is critical. are you telling people that half a high aims -- >> absolutely. i have always tried to inspire even on the job and i remember very distinctly after i did go on to college, the college campus asked me to be a recruiter for them. i went back to my high school and actually got a record number of people from similar backgrounds to apply to the

university. so, the power and what can i say in spanish police say the emotion, what's inside of you, the five-year in the belly is there and especially the underrepresented women. for the last team as the of really don't have a lot of role models need to be inspired. i didn't always get it from women because there weren't any talk of at that time, but finding it in other places, coalescing, networking, all that helps and that is the kind of energy that was given to me that inspired me to think you know what, i've got to give this a try, i'm going to take a risk and i may not be perfect at it, but i'm going to give it everything i can. >> i think people were interested in the habits of successful people. do you work all the time? >> ibm a morning person. >> hammill early? >> it's amazing. [laughter]

it depends on what time, because i could be on the west coast and people in the west coast say you're crazy. >> do you have to hold your e-mail until -- >> i'm an early riser and i think that is something that my father and my mother instilled in us. get up, get ready, get your chores ready, be prepared for the day. >> how late to do you work? >> i tried to get in a decent hours. people don't think we do this, but i like to cook so that is the way of getting the stress out. i try to eat very healthy so i

will buy portions and do cooking of vegetables and entries, but something that i really enjoy it is making home cooked pinto beans. when you grew up in a household where that is ought you eight you are like no. but now it's like a luxury. it's the way you could get, it's what you put a net. a lot of garlic. [laughter] i know it sounds awful but it's really healthy for you. >> now you were in the labor department. what do you see as the biggest work issue for women today? >> to me it is still breaking through the glass ceiling. we see more women, more professional women even in my own cabinet. we have about 57 percent of diversity in my little kitchen cabinet and that's hard work.

the reason is happening is because the top person and that level of influence is projected that is something our goal will be. so you have to be able to work with individuals that aspire for those same kinds of goals and each of those cabinet members and my cabinet agency are doing that. i am asking them not to pull out binders, but we have good people available, and we have networks that we need to tap into, and it's not like we have to invent something. there are folks ready, and women have to help women out and i want to underscore that because many times you hear about stories other women don't help each other. >> let's talk about that for a second. there's 47% of the work force of female and about 14 percent of the executive office job. so this is the glass ceiling

you're talking about. but, madeleine albright has a famous saying there is a special place in hell for women who don't help women, kind of what you are saying. how do you do that? >> they live up to the ranks to be welcomed. i think that what i have learned from great women of leaders and people like to know and work with like i still, nancy pelosi. a very empowering and very much wanting to share. women who feel secure about themselves can give support to other women. a lot of people are insecure and do not want to do that. i think that is a very important element, and also to allow for new ideas to emerge from other people. not all of the greatest ideas come from my office to be taken out in the field with other women who were championing causes they will make me look

good so why not allow more of that to happen? that's the kind of spirit in the style i like to see to it is the macarthur things women can do to encourage other people? is it simply just talking about the pressure? >> it's more than just talking. it's about if you are immediately engaged in the work environment together, it's allowing for more opportunities selling someone to take on a new project or allowing someone to maybe how could i say flesh out ideas and actually put them in place and then learned from that because not everything is going to be perfect. but knowing that even if it doesn't come out right someone is going to say it's okay. it's okay. we are we to work on getting a better. i think that's where he learned the most about leadership and about how to conduct perfect but it is you want to do.

men do it with men and with women, too to read these relationships are always down for women and we shouldn't be ashamed of that. >> we ask you what you were watching when you were 17 that would have made this a little bit easier and you said keep striving. never lose heart. it's not about how much time you get knocked down but it's about how many times you get back up and it's what you do after you get back up and brush yourself off that really matters. i just wondered if there was any specific time you could talk about when you did get knocked down and came back up. >> well, the one incident when i was a high school being told i wasn't capable or ready to go to college that just got hilda angry and hilda said instead of listening to the naysayers, i said how can i trim this around,

so i worked even harder to make sure that i could do well and that i could advance myself and that was in part by meeting the other folks and advisers that could be helpful and especially people from my background, my community who don't go to college. there are a lot of folks i graduated with that didn't go to college and there is no one helping you to navigate. you have to figure of how to navigate >> it sounds like president obama should get you angry. for europe hilda. we have time for a couple questions for the secretary and then she is free to head off to the we have a question at the microphone. >> we are getting ready for this drive to the top this kind of a when you are competing to get their its brittle but once you land at the top and you are in the cabinet it is pretty relaxed

the night is still out. >> you are always mindful of what you are doing and making sure to the best of your ability that you are doing everything appropriate and that you surround yourself with people that are not just all going to be happy people and say this, this and this, everything is great. no, i'm the kind of person that breaks through and says i want to know what the other side of the claim is. i want to know what the other side of the argument is, and i want to be able to make the best decision. sometimes i have gone against what my advisers have told me to do and in fact cannot better and they came out better. >> how do you internalize that and get off like you said and move on? >> it's precisely it. don't let it stick.

>> that's the talented though because it tracks you down, right? >> right. it is hard because you always hear this scenario you could be called and like teflon, things just slide off. and it isn't easy for me either. but i think when you do is you try to learn from your mistakes and then you try to avoid anything coming back because you should have learned from it and i think for me i like to use the sinology. for young people and people out there even if you are in a career right now, you want to change, and you think you have to make a big jump, a big leap for new risks, be a sponge, and i mean it in the way that you are going to soak up as much information as you can. and just like a sponge when you are sitting at your sink you bring out all the bad stuff that falls out. let it fall out and then you are

going to be stronger and ready to clean up. but that this kind of an anthology that i think about. you can soak things up, but it varies you. you are not going to be effective soaring it out and move on and you will be lighter and more adamant to read some of the kind things that are in the bad stuff are things that perhaps you are dwelling too much on something that isn't going to make much difference and it enables you back and a may mean of letting go of some things and not projecting a good image of yourself. >> do you have any tricks about staying positive? about -- >> i am, believe it or not, i believe strongly in faith. i have a lot of faith

>> religious faith? >> both in people coming in the goodness that i see in people because it comes in many forms and i will give you an example. i just came from queen's new york, visited some hurricane victims and met with some mothers that had kids. they don't have any jobs now but they are helped to the crowder helping their neighbors clean up their jobs every saturday. exposing themselves to a kind of things. just doing it because their heart says i want to do something for my community. and to me when i see something like that, and here i am as a labor secretary watching that, i am compelled to say my goodness, if these people are willing to risk things, their life and they've lost the likelihood, they don't have a place to say, what can i do to the policies to help them? >> thank you. you are giving me a perfect segue riss demint can you just identify yourself? >> i would like to pull the

thread of proposing a new idea in the possibility of getting back up and bringing out as you say the bad stuff. one of the things women like to do is dismissed ourselves. we'd dispose of our ideas. nobody's going to think that's important or i'm not going to bother. nobody pushes back we just say sorry i didn't mean to upset the card one way or another. can you talk about that at times may be when you face that, when you bumped up and you know, where that is trying to get is where does that come from and how would you instruct other women to not dismiss themselves in their ideas. estimate the confidence. >> i guess it depends on the circumstance. but for me i join all my past experience to the obviously

that's very helpful. but knowing that perhaps i make a decision that isn't going to sit well with other people they may not agree that at the time based on my knowledge and my experience that's the right thing to do i keep with it and continue to work on that path and help to explain to people why i believe that, and if there's any facts or reasons why my thoughts or my belief is so strong to do something. it's hard to get there but i think once you get past that, people will tend to respect you and that helped me in a particular matter when there was a major emergency disaster that took place in the mind a couple years ago. and folks were like well, you

don't really need to go out there. hello, 29 people just died. >> they are saying we don't need to go there. >> i can't save their lives but i can certainly talk to this house is to our field staff. i can find out what happened and what our resources or. >> why in the world would they tell you not to go? >> just for whatever reason. whatever reason. so, i went against whatever the at pfizer said and to be honest, it was the best thing i could have done because it also lifted the spirits of my employees and give more credence to our organization because it said we are not afraid to come and we are not just a bureaucratic agency. we have sensitivities. we have people that work with us that are supposed to be their helping and protecting people. so it really broke through the new ground for us.

>> it's great to have the specifics. go ahead and identify yourself. >> thank you if so much for your comment and for giving us a glimpse into the very human side of being a cabinet secretary. i'm wondering with as many women that have reached the pinnacle of their career and for those who have been highly achieving women like yourself, is there a new task beyond that? what is expected once you have reached the pinnacle and beyond what can we expect to see of the women that have accomplished a lot in the government perhaps and private sector do you retire into personal life or do they say that high achieving women will take once they leave their position? >> and what are you going to do next?

>> well, i think the women that i've come across that have also reached those high platitudes that they continue to be active for the most part, and i think that this new environment, be it political or just social environment that's changed now, people want to do more, and sometimes people will do it for, you know, as volunteers. they want to be the part of the cause. they want to be part of the solution. if there is a problem out there, social problem, they want to be part of the solution and help it. so, i can see more people, more women doing that. we've always done that. but we don't talk about it. but we should be talking about it and engaging more people, and i think that there are a lot of women leaders that would be happy to help in part their knowledge and experience. i mean think about it, 20 years ago there were not forums like this. you didn't have the secretary of labor look like me. these are all things that just

occurred. but they didn't happen by, you know, accident. it's because a lot of people have been working to help make this, you know, this a reality and reflection i think of what is really happening out in our country. and i have really got to get a lot of credit to our president and people, like i said nancy pelosi, senator barbara boxer, who i know, and the secretary. >> do you think he would go back into elective office or take a pause in the environment? >> i think, you know, there's a lot of issues i care about. health care, health care this various environmental issue, continues to be a big issue and will be until we look at how we can regulate. >> so you would probably take on some new kinds? >> i would hope so if they've evolved. and obviously i care about immigration reform.

the president work on helping those of dreamers, the young children. i went to school with a lot of those individuals. they are educated and want to be so much a part of the american dream. >> we have some students here from high school and we will last them to ask questions later. but as a parting a bit of advice for high school teenage kids who want to work out though white house or would like to be in the president's cabinet someday, what do you say to them? what something important for them to remember? >> volunteer. get involved in your community. i really do mean that. because that is something that whether you are applying for college or job, people want to know where do you put your priorities? are you volunteering for a cause

cracks are you helping your neighborhood? what is it that you're doing? are you tutor in low-income kids? what are you doing with that extra time that you have? that's important for young people in high school. and then attach yourself to other folks that you want to learn from that deutsch and you can learn something from. it's not so much about being in the in crowd, because that changes. it's about being prepared and knowing why skills. >> were you a popular girl? >> mean? i don't think so. [laughter] >> are you popular now? [laughter] >> no comment. [laughter] >> but what is the best part of your job? what do you love about what you're doing now? >> finding solutions. being able to bring a new voice,

to lend a voice and in the year to the circumstances that might not have ever heard that voice so that's why it's important to have more women and diversity and a new ones that hasn't been heard before. that's what's so important. that's what makes our government and policies active instead of bureaucratic and flat. that's what i look for for people. i look for that energy. >> you have a lot of energy. thank you, secretary solis. thank you so much.

back in the heyday of the private student lending market, you saw a lot of families who were not necessarily going to for-profit colleges. this student was going to, say, a music school. i wrote an article about a gardener who sent his son to college, you know, his first in the family to go to college. he made about -- the dad made

about $21,000 a year, the family income, and he was able to borrow six figures from a lender for his son. there just was no underwriting. the slender by the way settled with the new york attorney general's office because i don't know if you remember, it was called the preferred lender list where lenders were in some cases accused of paying schools for preferential treatment and for them to sort of steer students toward a particular loan product comes a that was the case with this lender. so when you think about -- you even understand sort of some of the anger and how a generation of students may rightfully feel duped in some ways and stock with very little relief at this point now that they're so far in debt.

this week on q&a our guest this supreme court associate justice antonin scalia. his new book is titled quote cope reading law the interpretation of legal text." c-span: justice antonin scalia, in your book reading law interpretation of a legal text, why now? >> guest: why now? because i finished working on it now. [laughter] >> host: why this book and how

important, you have done a bunch in the past. >> guest: well, i've done a bunch in the past and this is the first time that i tried to pull together all of the what you might say interpretive causes the body consider important, textual, no use of legislative history, and i described the opposing theories of interpretation. and most important of all, or maybe most important, but certainly the most difficult have gone through the steps that izzie textual has to take in order to produce a correct reading of the text, namely the so-called tannin of interpretation, which are

largely ancient common sense rules of how language is used. c-span: who you expect to read this? >> guest: i hope judges will to read it and lawyers. i hope all students will read it, and i hope legislators will read it because it is just as important that legislators know how their language will be interpreted by the courts as it is for the courts to know how they ought to interpret the language so those are the four. ..