least $1 million annually pay at least 30% of their income in taxes. this is named after billionaire investor warren buffett. the congress department has imposed new import fees on solar panels made in china finding that the chinese government is improperly giving subsidies to manufacturers of the panels there. saying it found chinese solar panel makers have received government subsidies of about 3% to 5%. therefore the department said tariffs of the same proportions will be charged on chinese panels imported into the u.s. depending on which company makes them. the state department expressed surprise and concern today over reports that liberia's nobel prize winning president defended a law that criminalized gay acts. in an interview with britain's guardian newspaper, president ellen johnson suhrleaf was reported to have said, "we've got certain traditional values in our society that we would like to preserve." administration officials have

lauded johnson suhrleaf as africa's first woman leader and liberia has received hundreds of millions in u.s. aid since emerging from civil war last decade. president obama has directed officials to use foreign assistance and diplomacy to promote gay rights across the country. and the white house says that the president's oldest daughter, malia, is safe, was never in danger during a strong earthquake today in mexico. malia is on vacation with a school group in the southwestern part of the country, according to reports from the region. and the u.s. geological survey says a major earthquake was felt strongly in that area. back in one minute with more "washington today." listen on the go with the free c-span radio app. four audio streams of commercial free public affairs programming. congressional hearings, white house briefings and speeches from national leaders. supreme court oral arguments. book tv. american history tv. and the sunday talk shows on the weekends. and podcasts of some of our

regularly scheduled programs like q & a and news makers. the c-span radio app free at the itunes app store or blackberry app world. welcome back to "washington today" here on c-span radio. we're streamed on web at c-spanradio.org and being carried on c-span 3. news from afghanistan. the president's top commander in that country making recommendations about how quickly the u.s. should pull out of this long and costly war. saying that some final decisions will come in early 2013. the testimony of general john allen who, by the way, commands u.s. and nato forces in afghanistan saying that he would present recommendations to the president on troop levels in 2013 and beyond during the last three months of this year. he would do so after assessing the military campaign following the departure of 33,000 u.s. troops due by the end of october. reuters reporting that questions have mounted about u.s. intentions in afghanistan, including how quickly the remaining 90,000 troops will leave, as the white house

continues to grapple with a number of setbacks. they include, of course, the burning of the koran at the nato base last month and the killing last week of those 16 afghan civilians, mostly women and children, blamed on a lone u.s. soldier. one of the fiercest critics of the war in iraq is congressman walter jones. he's a republican from north carolina. as he posed questions to general allen. >> over the past ten years, i've been hearing from the administration and those who were in your position prior to you being in here today. dr. miller, your comments and general allen's is what i've been hearing for ten years. i mean, there'll be setback. we're making progress, but it's fragile and reversible. going to walter reed in baa the bethesda recently, i had a young marine lapse corporal who lost one leg. he said to me with his mother

sitting in the room, congressman, may i ask you a question? certainly you may, sir. my question, why are we still there? and my -- i look at this e-mail from your former boss and i'd like to read just a portion of it. attempting to find a true military and political answer to the problems in afghanistan would take decades. decades. not years. but drain our nation of precious resources with the most precious being our sons and daughters. simply put, the united states cannot solve the afghan problem no matter how brave and determined our troops are. and that gets me to the point that what is the metric? what is the event that the administration and general allen, you, sir, are going to be candid with the united states congress and more important than the congress, the american people as we're spending $10

billion a month that we can't even pay for, the chinese, uncle chang, is lending us the money to pay that we're spending in afghanistan. when does the congress have the testimony that someone will say, we have done all we can do. bin laden is dead. there are hundreds of tribes in afghanistan and everyone has their own mission, talking about the tribes. i hope that sometime between now and 2014 if things are not improving, or they're fragile like they are now, somebody will come to the congress and say, the military has sacrificed enough. the american people have paid enough. and somebody will shoot straight with the american people and the congress. do you know what type of metric -- i'll ask both of you, dr. miller and general allen, what type of metric that you would see that you would come back to the congress and say, our troops have done everything.

we can declare victory now. but there's one thing we cannot do, and that's change history. because afghanistan has never changed since they've been existing. and i yield 1 minute, 41 to you both. thank you. >> i think that's a very important question. as you have i've visited the wounded in bethesda as well. there are many of those young troops as the lance corporal you talked to the other day who are very, very dedicated to this mission. they want to see it be successful. they want their sacrifice to have meaning. i think this campaign is going to give their sacrifice meaning. we're on track to have the ansf move to the lead. that's what we want. that's what we want success to be in afghanistan. >> general, if i may interrupt you one moment. if we get into 2014 and see president obama or a republican president and the afghans are not trained where they need to be, and we're spending money, we're losing lives, will you be honest with the next administration and say to the

next administration, you need to stay to the timetable because we have done all we can do? you're not going to change history. >> congressman, i'll be honest with you now. i'll be honest with that next administration. it's my obligation. it's my moral obligation to ensure that this force is resourced and that this force is committed into a strategy that i think will work. and i believe this strategy will work. it's not about american forces or isef forces, even with, fighting right to the very end of 2014 and bearing the burden of this campaign. this campaign very clearly -- that the ansf will move to the front. the ansf will have the lead. the ansf will secure the population of afghanistan. if i think that's coming off the rails, congressman, i will let you know that. >> thank you, sir. >> it's 38 minutes past the hour. the testimony of general john allen before the house armed services committee. congressman walter jones of north carolina, a critic of the u.s. efforts in afghanistan, and questions on how the u.s. is

doing. this coming after u.s. troop withdrawals continued in iraq last year and 90,000 troops remain in afghanistan with that country being in the news over the last ten days to two weeks. the entire testimony, by the way, as with all of our programming, is available on our website any time at c-span.org. the president today accusing iran of imposing what he called an electric curtain on its citizens and promised new u.s. steps aimed at helping to ease the iranian people's access to the internet which a social media campaign designed to promote peace between ordinary israelis and iranians. something that is now under way. the president speaking directly to iranians in a video message commemorating the persian new year celebration. the president did acknowledge continued tensions between our two countries, but insisted that americans do want a dialogue with iran. >> today, michelle and i extend our best wishes to all those who are celebrating around the world. in communities and homes from

america to southwest asia. families and friends are coming together to celebrate the hope that comes with renewal. to the people of iran, this holiday comes at a time of continued tension between our two countries. as people gather with their families, do good deeds and welcome a new season, we're also reminded of the common humanity that we share. there is no reason for the united states and iran to be divided from one another. here in the united states, iranian-americans prosper and contribute greatly to our culture. this year an iranian production, a separation, won america's highest honor for a foreign film. our navies have confronted the dangers of piracy with u.s. sailors even rescuing iranian citizens who had been taken hostage. and from facebook to twitter, from cell phones to the internet, our people use the same tools to talk to one another and to enrich our lives. yet increasingly, the iranian people are denied the basic freedom to access the information that they want.

instead, the iranian government jams satellite signals to shut down television and radio broadcasts. it censors the internet to control what the iranian people can see and say. the regime monitors computers and cell phones for the sole purpose of protecting its own power. and in recent weeks, the internet restrictions have become so severe that iranians can't communicate freely with their loved ones within iran or beyond its borders. technologies that should empower citizens are being used to repress them. because of the actions of the iranian regime, an electronic curtain has fallen around iran. a barrier that stops the free flow of information and ideas into the country and denies the rest of the world the benefit of interacting with the iranian people who have so much to offer. i want the iranian people to know that america seeks a dialogue, to hear your views and understand your aspirations. >> the president's address to the iranian people on this

commemorating the persian new year. they hadline that came out of today's address, claiming that the iranian government is creating an electric -- electronic curtain similar to the speech back in 1947 by winston churchill on the iron curtain between east and west europe. this an electronic curtain that is limiting access iranians have to social media websites including google and facebook. ♪ >> i risch tenor david o leery with "danny boy." that iconic irish song as the president today donning a green tie and greeting the irish prime minister. the day began for the irish prime minister, the tea shock with vice president joe biden. the president saying technically it's not st. patrick's day. of course, that was last saturday. but we like to prolong the party around here. at the white house earlier in

the day with the irish prime minister, a discussion about some serious issues including the euro, the dollar and the economic situation facing those 17 countries that now participate in the euro. here's more with the irish prime minister and the president. >> first of all, i want to thank the president and the first lady for the accommodation last evening. always good to have a place to stay in washington. it's a single honor not only to be allowed to stay in blair house but also to come here to the oval office and have this conversation this morning. i'd just like to say that i've given the president a rundown on the decisions taken by my government in the last 12 months to stabilize our public finances and to put our house in order. but also to play a part, clearly, in the european union -- certain part. from that point of view, i give the president a rundown on the changes in the structure of banks, the decisions taken by government in relation to public sector numbers.

the forcing down of costs and, therefore, the increase in competitiveness. and to report to him signs of confidence returning to the irish economy, but we still have a very long way to go. otherwise we have made a good solid start. clearly there are challenges ahead. i also reported to the president that the conversation around the table of europe in the last ten months has shifted from one of being just austerity to being one of good budgetary discipline, but also clearly the agenda for growth and jobs will now be central to every european it shall i gi -- i gave the president an outline of my views. this represents a real insurance policy both for the country and for the next generation of children. but also not to allow any future government to run riot with the people's money as happened in the past.

we discussed the question of the development of the european companies and how other countries are making efforts along with our own to have that as a central issue for the time ahead. we also discussed the trading links between -- between the u.s. and ireland. i pointed out to the president my interaction with the american chamber of commerce and the chief executives of multinationals in ireland. we discussed the question of the possibility of semesters either away for young people involved in innovation and research in education which is so important in the context of what multinational companies are actually looking for as well as digs cu discussed the issue of syria. and i gave the president a rundown on the last discussions of the european council meeting. we also discussed the question of iran and what the u.s. has said very clearly about this in the short time window that there is in that regard. >> enda kenny is the irish prime

minister. he was at the white house this morning. a celebration for st. patrick's day, a couple of days later, taking place this evening at the white house in which the teashock, the irish prime minister, will be featured. ♪ meanwhile, in london today, queen elizabeth ii praising british virtues in a speech that commemorated her 60-year reign. it was a ceremony filled with pomp and ceremony. the monarch addressing both houses of parliament. a new stained glass window unveiled in her honor. the 85-year-old queen dressed in a yellow coat and matching hat, sticking largely to the royal speech book. paying tribute to parliament, her family, and britain's armed forces. >> since my accession, i have been a regular visitor to the

palace. and at the last count have had the pleasurable duty of treating with 12 prime ministers. [ applause ] over such a period one can observe that the experience of venerable old age can be a mighty guide, but not a prerequisite for success in public office. i'm therefore very pleased to be addressing many younger parliamentarians. and also those bringing such a wide range of background and experience to your vital national work. during these years as your queen, the support of my family has across the generations been

beyond measure. prince phillip is, i believe, well known for declining compliments of any kind. but throughout, he has been a constant strength and guide. he and i are very proud and grateful that the prince of wales and other members of our family are traveling on my behalf in this diamond jubilee year to visit all the commonwealth thrones and a number of other commonwealth countries. these overseas tours are a reminder of our close affinity with the commonwealth, encompassing about one-third of the world's population. my own association with the commonwealth has taught me that the most important contact between nations is usually contact between its peoples. an organization dedicated to

certain values, the commonwealth has flourished and grown by successfully promoting and protecting that contact. at home, prince philip and i will be visiting towns and cities up and down the land. it is my sincere hope that the diamond jubilee will be an opportunity for people to come together in a spirit of neighborliness in celebration of their own communities. we also hope to celebrate the the professional and voluntary service given by millions of people across the country who are working for the public good. they are a source of vital support to the welfare and well-being of others, often unseen or overlooked. and as we reflect upon public service, let us again be mindful of the remarkable sacrifice and

courage of our armed forces. much may indeed have changed this past 60 years. but the valor of those who risk their lives for the defense and freedom of us all remains undimmed. >> the british queen, queen elizabeth, as she spoke to the house of commons, the 85-year-old queen paying tribute to parliament. also reference to the 12 prime ministers she had dealt with and the 3,500 bills she signed into law. as she underlined both the length and the stability of her tenure as the head of state in great britain. that speech, by the way, is available on our website at c-span.org. abc news puts it this way. an exuberant secretary of state hillary clinton saying that she was thrilled to welcome a group of scientists launching a new exhibition into the disappearance of aviator amelia air hart 75 years ago. she began in washington, d.c., by saying, wow, this is an

exciting day. we haven't had quite an event like this one before and that's what i love about it. the privately funded half they spoke about her passion for aviation, how she admired amelia earhart and introduced to her by her late mother. for anyone, boys and girls who dream for the stars. here's hillary clinton. >> amelia earhart. ready to lead in a quite uncertain and dangerous world. when she took off on that historic journey, she carried the aspirations of our entire country with her. eleanor roosevelt, one of my

favorite americans had hoped that ameal yeah would one day teach her to fly. now, mrs. roosevelt used to drive around in her car and she would take ameal yeah for rides. and i think there's a story that ameal yeah said it's more dangerous driving with you than flying. and she wrote thinking of amelia earhart. today, we meet at a time when the challenges are not so dire despite what you might hear on cable television or talk radio. but these are still difficult days for many americans. after a long decade of war, terrorism and recession, there are some who are asking whether we still have what it takes to lead. and like that earlier generation, we, too, could use

some of ameal yeah's spirit spp that feeling that if we just hold on together this generation of americans like generations before have the talent, the ingenuity, the grace and the grit to emerge greater than ever and to take themselves and to take them to even new and higher heights. we can be as optimistic and even audacious as amelia earhart, we can be defined not by the limits that hold us shutdown by the opportunities that are ahead. so i'm thrilled to invite scientists engineers, our

aviators and our salvagers and everyone who still knows how important it is to dream and to seek, because even if you do not find what you seek, there is great honor and possibility in the search itself. you will all carry our hopes with us into what field of endeavor you go. and in particular, those whom we recognize today, we are excited and looking forward to hear about your own great adventure. thank you all very much. >> here in washington, the comments of hillary clinton as she reflected on amelia earhart, the aviator who went missing over the atlantic 75 years ago and the new effort to find her plane. speaking of aviation, if you travel to little rock, arkansas, you will be handing, if you're

flying into little rock, the bill and hillary clinton, not only devoted years of service to arkansas, but they served the nation as a two-term if the and his first lady, u.s. senator and secretary of state. that is a legacy in which all arkansasians can be proud. we naming the airport after undergoing a $67 million renovation project. it will be known as the bill and hillary clinton international airport. well, "usa today" reporting on a professor on campus at george washington university, an unusual professor, the first time ever a sitting fed chairman spoke to students in a classroom. "usa today" writing that the students began trickling in early. then walked in professor ben bernanke, also known as the chair of the federal reserve. 30 undergrads from george washington university then began with a round of applause. the lecture then began. it is unusual because ben

bernanke is again the first sitting fed chairman to ever help teach a college level course. the first of four scheduled at the gw campus. and one of the questions, lessons from the great depreg. -- depression. >> i need to talk a little bit because it's less familiar what a financial panic is. in general, a financial panic is sparked by a loss of confidence in an institution. how many of you have watched "it's a wonderful life?" well, less people are watching christmas movies. one of the problems jimmy stewart runs into is a threatened run on his institution. what's a run? let's imagine a situation like jimmy stewart's situation before there was any deposit insurance. no fdic.

and imagine you have a bank on the corner, a regular commercial bank. and this bank makes loans to businesses and the like and it finances itself by taking deposits from the public. and deposits are demand deposits which means anybody can pull their money out anytime they want. which is important because people use deposits for ordinary activities like shopping. now, imagine what would happen if for some reason a rumor goes around that this bank has made bad loans and is losing money. now as a depositor, you say i don't know if this rumor is true or not. but i know is if i wait and everybody else pulls out their money and i'm the last person in line, i may end up with nothing. so what are you going to do? you're going to go to the bank and say well, i'm not sure if this is a true rumor or not, but knowing that everybody else is

going to come to the bank i'm going to go pull my money out. and so depositors line up, they pull out their cash. no bank holds cash equal to all their deposits. they put that cash into the loans. the only way the bank can pay off the depositors is to sell or otherwise dispose of its loans. but it's very hard to sell a commercial loan. it takes time. you have to sell it at a discount. the bank will sell. ultimately many depositors might lose their money as happened in the great depression. so a bank panic is a problem which is faced by any institution where it has loans

or other ill liquid-type assets and it finances itself by short term deposits or other short-term lending. now panics can be a serious problem. obviously if one bank is having problems, people at the bank next door might begin to worry about problems in their bank. and a bank run can lead to widespread bank runs or a banking panic. sometimes banks would respond to a panic or a run by refusing to payout deposits. they would say no more, we're closing the window. so that restriction on deposits was another bad outcome and caused problems to people who had to make payroll or buy groceries. many banks would fail. and beyond that, banking panics often spread into other markets. were often associated with stock market crashes, for example. and all those things together, as you might expect, were bad

for the economy. and so a banking panic could lead to a crash in the economy as well. >> ben bernanke before his first tour of duty as federal chair board of governors in 2002. this class on the george washington university, the first of four look at the fed's role in the great depression, also the great recession and also a look at the fed's challenges in the aftermath of the 2008 financial crisis. and "the new york times" writing this lecture, the latest in the series of efforts by mr. bernanke to increase the fed's engagement with the general public. he appeared twice on "60 minutes." he's held town hall meetings with college students and he's held regular news conferences which we carry here on the c-span networks. this is "washington today" on c-span radio. et