her organization. and so, it was truly a face-off. it truly was a face-off. unfortunately, illinois failed to pass the equal rights amendment, and that was one of the reasons why we still don't have it. but that fight continues and i think the fact that we are still talking about it, it's still important, it's got to happen. our daughters deserve no less from us than an equal rights amendment in this country. but to talk a little bit about running for office, it's no easy thing to do, particularly in light of the fact that the laws have changed in terms of money. if anything, i think campaign finance reform is the new face of the civil rights movement in this country. and i say that because the role of money is so corrupting on the process that it really is beginning to lock out a lot of voices that ought to be heard, lock out and close doors and foreclose opportunity, particularly for women from all

walks of life who might be encouraged to step forward but can't figure out how they'd manage to handle the fund-raising and all of the money part of the process. that is really the hardest part of it. and if representative democracy means anything, it ought to mean that women will have an equal voice, women will have an opportunity to participate in government. and you have that opportunity when you run for office. and so, i want to encourage everybody here to do what you can to move not just in terms of personal contributions, because that's kind of the cup on a corner way of doing it nowadays, unfortunately. it's the pacs, it's the corporations, it's the super pacs. it's the efforts to get the money out there so that the candidates can be competitive. because without that, you know, you may have the most brilliant thing in the world to say, but if nobody can hear you say it, then you don't get your message out and your chances of being elected are minimized. and so, i just think that

gatherings like this are so important. i want to thank all of you for being here and for your activism, because i am encouraged and inspired. i'm doing food now. and i want to end with a quick food story. and this is some good news. no, seriously. two things happened in the last month. the two big drink manufacturers, coke and pepsi, agreed with the fda to change the formulation of their beverages because it had been determined that an ingredient they were using caused cancer. and the fda was going to require that they put "this product causes cancer" on the cans, and coke and pepsi both decided, well, no, we don't want to put any reference to cancer on our product. so guess what? we're just going to change the formulation and take that out, all right? great victory. you saw that much of it in the news, okay? that was the first. the second, though, and this

just happened. there was an article about this today and i hope you'll look it up. it's just as important. it has to do with bpa, which is this plastic coating that they coat the inside of cans with, particularly that have tomato products in it. and what they found was that the word of mouth got out and moms, mothers who make purchasing decisions -- remember, women make the purchasing decisions across the board -- decided they were just not going to expose their children to this packaging material that might cause cancer and any other number of ailments in the children. and the result now is that these companies are now dumping this stuff, the bpa. they're dumping it like 40 going north and campbells has announced they're changing their formulation for their soups. now, this is a pretty big deal. the people who make, oh, what's the other one? progresso. no, not progresso.

there's another one. i can't remember. i'm sorry. see, i'm without notes. in any event, two big companies, huge companies have decided to change their formulation to get carcinogenic materials out of their packaging because the women of this country spoke up and said we are not going to continue to participate in poisoning our children. so, it's those kinds of things. i think that's a great victory. and i think that's a great victory and should be inspirational to everyone here, because the people really in the end do have the power. people coming together and expressing consensus around an issue like that have the power to change things and to change the direction of this country and to keep this country moving in a direction that we will all be proud to leave for our children. and that applies, whether it's politics or food or any other level of activity. how we define our times, our world and our times starts with each and every person in this room. and so, i want to congratulate everybody here for reaching

outside of yourself to make a difference and to make this an america that we can all be proud of. thank you. >> so, i just want to actually follow up with what carol just said, and i want to say it's wonderful to see carol, because she was one of our wynonna littman chairs and leadership at rutgers university. see, everyone should come to rutgers university. it is the place to be. but one of the things that we know about why women tend not to run r office is that they think that it's sort of an ugly place and a place where you can't get things done. and what they end up doing is doing what we call kind of work-around government and politics, and they do it themselves. so, they'll work as activists on an issue, like the ones that carol is talking about, but they may not think that they can get it done in government, you know. they watch the gridlock and they see that that's a place where, you know, heads butt and you can't get stuff accomplished.

but the bottom line, really, is that where you want to make and the place where you can make the kind of systemic change, where you get the regulation through so that you don't have to keep asking individual companies to make changes and out of their sort of large ss, they do it, where we are getting women inside to make sure the regulations are changed, that's what we need. we know that when we ask men and women that serve in state legislatures, what was the most important reason they ran in the first place? and i'm sure carol would back this up from her personal experience -- they run for office because they feel passionately about something and they want to change it. and they find they try to change it outside the system and can't get it done, and so they run for office and get it done from the inside. for men, they are much more likely to run because they've had a longstanding interest and a career in politics. so, our shorthand has become men run to be somebody and women run to do something. and so, we need more women who are inside doing something to change things systemically so

that we can see some real, long-term change in this country. >> there are two women at the mike, and then we have to end this because the room will expire about this time. so, would you please say your name and -- >> i'm from frederick community college and my question is for ms. walsh. thanks for giving us the good news that about 70 more women candidates are running this time for the offices. my question is that can be assumed that 100% of these women are for women's rights, such as equal rights or -- >> that's your job is to go look up who are these women and find out which are the women that you can support and that support the things that you care about. but what we are seeing is that

if you look at the party breakdown, there are more democratic women running than republican women right now, but that's pretty much historically true. right now in the united states house of representatives, democratic women make up 32% of the democratic caucus, and republican women make up only 17% of the republican caucus. part of what's happened for republican women is that they tend to be a bit more moderate and they have a very tough time making it through primaries. and i think, you know, for me watching, a real tragedy has happened this year in losing olympia snowe in the united states senate, a moderate republican woman, one of the few voices where was really capable of working across party lines and trying to seek some places of compromise, which i think we would all agree that we sorely need. so, there are an array of women, more democrats than republicans, but probably varied on their positions on issues within each party as well.

so, that's up to you to take a look and see which are the women, but they are out there. and find the women that you can support, that you believe in, and help them get elected if you're not going to run yourself. >> okay, one more question? >> oh, would you like to go? >> i'm sorry. >> oh, okay. two things. one, i just want to encourage the younger women in this audience to reach out to older women to get them social media culturally literate, because there is a divide in age in terms of comfort with the social media, which, you know, older women -- if you just sit with them, get them online -- >> there's some of us who can do it. >> i know that. i know that. it's a generality. it is a generality, but you know -- >> can't be ageist. >> no. i wasn't intending to be. >> okay, sorry. >> i'm just saying, it breaks at a certain point sometimes. the other thing, ms. walsh, when i talk to people about running for office, they go, oh, i don't

want to come up through the party, i don't want to put in time on the school board, you know. i would just like to run. well, that is not the way it works. or is that breaking down a little bit? >> well, it is breaking down. >> okay. >> and in fact in our most recent study of men and women who serve in state legislatures, we found that well over half of them, that was the very first office they had ever run for. and i think one of the things that we do, particularly to women, is we tell them, you have to work your way up through the pipeline. you have to start at the school board, then run for local council and then run for the state legislature. and i actually think what happens is we burn those women out. because being in the school board, i mean, that is the toughest job there is. you can't go to the supermarket because everybody knows you, and you're dealing with issues affecting their children, and they're crazy. and so, it's a really, really tough job. so, let's not -- i mean, if what you want to do is be on the school board, then by all means, be on the school board. but if what you want to do is run for the state legislature,

do it. just do it. >> i'll give martha burke, the money editor of "ms" magazine the last question. >> as a certified older woman -- >> no, i thought she didn't want to ask the question -- oh, i'm sorry. i'm sorry. >> go ahead. >> i thought you were mike monitor or something. >> no, no, i just wanted to make sure the other lady had a chance. >> okay, please do it. >> so, i'll try to be brief. this question was actually tailored to the past panel, but i think it's something that's applicable to everybody in the room, especially people of age and younger. and i hope that anybody who represents an organization, not necessarily just sitting up on the stage, will feel comfortable answering it. i attend a montgomery county public high school, which means that i have the privilege of receiving comprehensive sex education in my school-sponsored health class. sadly, in the 21st century, that is still a privilege. on the past panel, there were a myriad of examples of the ways in which women are helping to

maintain rights to reproductive health, you know, prevent personhood bills from becoming law. but to me, it's secondary only to protecting the rights in the real world is educating women before they get there. i'm sure many of us who are at the morning convention remember an anecdote that one of the anim panelists shared about her roommate who was ashamed to use condoms when she became sexually active because the shame of doing so had been so ingrained in her. that's not something that happens when you get to college. that's something that has been hammered into you for years. and unless it can be corrected through education, i don't necessarily think women of my age are going to be able to move things forward. because even if we have the rights to reproductive health, we won't necessarily know how to use them. and i'd just like to go back to what marietta said on the past panel. she was actually talking about teachers unions, but i think what she said is applicable. she said that education

policies, or rather, policies in general, are often what fail children, not people. so, in conclusion of that winded, long speech, my question to everybody is, what policies are we pursuing? what policies are you women of an older generation, my mother's, my grandmother's, you know, what policies are you pursuing so that women of my generation and subsequent ones are going to know about things before they have to tackle them? thank you. >> what year of high school are you in? >> i attend albert einstein high school. >> and what year are you in? >> oh, sorry. i'm a junior. >> i think that you -- [ cheers and applause ] i don't think we have to worry about the next generation very much. they're willing to take the mike. and you know that my two colleagues didn't want to answer it. the only reason i am is that we support comprehensive sex

educati education. almost every women's group that i'm aware of does. and the tragedy is, we've got to do more than support it. really, young women's lives, young men's lives depend on it, because we have now in our country something like 11 stis, sexually transmitted infections, at epidemic or near epidemic proportions. and over the weekend in our campus conference, we have dr. smiths who will be talking about a new study which believes that in certain areas of our country, the underreporting of aids is by a factor of five times. and so, and we are living right here in d.c., where in certain wards, there is a very high inciden incidence. and that's -- we need -- our younger generation has a right to comprehensive sexual

education to protect their lives. >> thank you. thank you. >> martha? >> i'm just saying, if we're out of time -- >> we're out of time. >> okay, we're out of time. >> we have just a minute. i can't shut you up. >> okay, i just have to say -- >> but you have to ask a question. >> as a certified older woman who does know how to use social media, i want to say, let's not forget about old media. you know what happens on the radio. and most people that call in to the radio are men. a lot of them are younger men who are pretty antiwoman, and our voices need to be heard there, too. so, use social media, use new media, but don't forget old media. >> thank you very much. and thank you all for attending the 2012 women money and power

forum. you've been a marvelous team here in participation. i hope there's been all kinds of networking, and i know there has been. we'll see you again, i hope, next year. thank you so much for all your sponsorship, your activity and your work for the advancement of women. thank you. goodnight. just over 30 years ago, president reagan nominated sandra day o'connor to be the first woman on the u.s. supreme court. tomorrow, on c-span2, justice o'connor, now retired, talks with three women who followed her on the court, ruth bader ginsburg, sonia sotomayor and elena kagan. that will be live on c-span2 from the supreme court historical society starting at 6:30 p.m. eastern. this is c-span3 with politics and public affairs programming throughout the week and every weekend, 48 hours of

people and events telling the american story on american history tv. get our schedules and see past programs at our websites. and you can join in the conversation on social media sites. republican presidential candidates mitt romney, rick santorum and newt gingrich speak at the national rifle association's annual meeting on friday. also addressing the nra, house majority leader eric cantor, texas governor rick perry and wisconsin governor scott walker. see that live on c-span friday at 2:00 p.m. eastern. over the next few hours here on c-span3, congressional hearings on the obama administration's budget request for 2013. up next, securities and exchange commission chair mary schapiro on her agency's proposed budget. and then, u.n. ambassador susan rice on the foreign operations budget request. that will be followed by the environmental protection agency administrator, lisa jackson,

discussing the epa's budget. the securities and exchange commission is tasked with implementing much of the dodd/frank financial reform law, and the agency's 2013 budget request is $1.5 billion. that's an increase of $250 million. s.e.c. chair mary schapiro recently testified before a house appropriations subcommittee about the budget request. >> hearing's going to come to order. thank you all for being here, and i'd like to welcome our witness, s.e.c. chairman schapiro. thanks so much for being here today. thanks to my colleagues for being here as well. joe and i decided not to talk baseball today, since both of our teams lost yesterday, so we're sad, but it is only the beginning, so, hopefully, it

will all turn out well at the end. we'll be playing each other in the world series, right? anyway, again, welcome, chairman schapiro. the s.e.c. has the complicated mission of protecting investors, maintaining fair, orderly and efficient markets, and facilitating capital formation, while at the same time, not overregulating our markets and hindering economic recovery. the committee must be vigilant in our oversight of regulatory agencies like the s.e.c. that play an influential role in our economy and have the power to help and hinder american consumers and businesses. since 2001, s.e.c.'s budget has increased over 200%. despite this tremendous growth in resources over the past decade, the s.e.c. failed to detect ponzi schemes such as madoff and stanford, the u.s. financial system nearly collapsed, and judges continue to question s.e.c. settlements and regulations. in recent years, the s.e.c. has

also had several embarrassing management lapses, such as purchasing unneeded space, destroying investigative documents and repeating material weaknesses and sec of own financial statements to name a few. those are problems with the sec's organization and structure. it proposing a substantial increase over fiscal 2012. this body is reticent to throw more money at the sec until approven you've address the structural problems from within in a comprehensive way. we want to help facilitate access to capital for american

businesses and four, running your operations effectively. just because the sec is funded through this doesn't absolve you from rigorously managing the funding to the sec and doesn't absolve this subcommittee from providing extensive oversight. you're mase fafaced with challe implementing dodd-frank, modernizing technology and reforms your organization. i encourage you not to rush or throw money at any of these challenges. there's something to be said for getting these changes right the first time. deliberate, thoughtful change is what's necessary to make our financial markets and this agency work better on behalf of the american public. chairman shapiro, we recognize you have an incredibly difficult job, and i know that you and your staff are very, are working very, very hard to meet todays challenges and we appreciate your efforts. i look forward to your testimony and for now would like to

recognize my friend rankingserr. >> it's okay to mention baseball, as we always do, except it's early and in october we'll be talking to each other again. then november we'll not be talking to each other, but that's how it goes. i'd like to join you in once again welcoming the chairman of the securities and exchange commission, the honorable mary shapiro before our committee. i think all of us here agree with the vitally important mission that the sec plays in protecting consumers and investors. the financial crisis highlighted the need to have a robust cop on the beat to make sure the american people are protected. dodd-frank gave the commission important new responsibilities and in this regard, implementing and enforcing numerous changes of the law is a vital part of making sure the sec can better address abuses of the securities markets and protect investors.

i know you have implemented about 75% of the regulations mandated under the new act, but that's some of the most crucial changes are upcoming. there is still much to be done to ensure past problems are not repeated. towards that end your budget requests asking for a significant new resources in particular i was heartened to see the continued focus on some of the sec's core enforcement and compliance activities. these areas in particular are crucial to the bad behavior in the securities markets. with a record number of enforcement actions last year, it is clear that the sec takes its mission seriously, and new resourceless help in this regard. i'd like to commend progress on your i.t. upgrades and note that the most recent i.t. order found no material weaknesses. i look forward to hearing more about the current and future challenges the sec faces and as

well as how your requests of budget increases will be used to address those challenges. we welcome you, and just a reminder, you know, so many of us in congress and throughout the country speak about not having what happened before happen again. and there are many people who will be responsible for making sure it doesn't happen again, but i think no one is more responsible than the sec and it confuses me at times that some people would attack it without mercy, and i'm not talking about anybody on this committee, but without understanding that without you and your enforcement and your oversight, things cannot change. one last point. i've been in congress 22 years and in the state assembly 16. 38 total years in tub lick service. this wan the only commission that came before congress and said we don't need more money.

because they didn't want to enforce what they had to enforce. i hope that changed. u think it has changed and you are responsible for making sure what happened in the past doesn't happen again, and i thank you. >> i now recognize for an opening statement, keep your comments five minutes or less that will give us more time for questioning. >> ranking member and members of the subcommittee, thank you for the opportunity to temperature and support the president's fiscal year 2013 budget request of $1.566 billion for the securities and exchange commission and how the sec would make effective use of those funds. over the past three years with this subcommittee's support the sec has significantly restructured our examination functions taking critical steps to safeguard assets, improve collaboration within the agency and improved risk assessment

capacity. these efforts of paying off. in 2011, the commission filed more enforcement actions than it has of before filed. obtained ordered for more than $2.8 billion in penalties and disgorgement and added to the total number of financial crisis-related cases by filing actions against and additional 16 ceo, cfos and other senior corporate officers. in addition our broader enforcement activities have benefitted from a more sophisticated use of risk analytics to identify and act on suspicious actions earlier. we implement add risk focused examinations program and completed over 1,600 oversight exams. this strategy resulted in both improved guidance to the financial industry regarding risky practices and an actionable information for sec enforcement investigations. we implement add new whistle-blower program providing high quality information regarding difficulty and hard to detect wrongdoing and we

improved our internal financial controls which resulted in a gao audit opinion for fy 2011 with no material weaknesses. sec staff with the assistance of targeting contracted expertise implement add number of internal reforms designed to improve the agency's structure, strengthen capabilities, improve internal controls and enhars worse forecompentencies. finally, we have used external hiring opportunities to fill strategic vacancies and obtain specialized industry expertise in the areas as diverse and computerized trading and structured products. in addition to improving our core operations we worked to implement the significant new responsibilities assigned to the agency under the dodd-frank act. the sec already has proposed or adopted rules for over three-fourths of the more than 90 provisions that require sec rulemaking. additionally, finalized 13 of

the required 20 studies and reports. while the agency's budget has grown in event years so have our responsibilities and size and complexity of the markets we oversee. during the past decade, trading volume in the equity markets more than doublinged as have assets under management by invest advisers with these trends likely to continue the foreseeable future. at the same time, we recognize that it is incumbent upon us to maximize fishs sis and continue our organizational modernization efforts. as we protect investors we have an obligation to be good stewards of the resources provided to us and to carefully review our activities to identify efficiencies and cost savings wherever possible. out of request for 2013 two permit us to add 676 positions to improve core operations and implement new responsibilities. and it would be fully offset by the matching collections of fees on securities transactions. the resources would allow us to

achieve four high priority initiatives in fy 13. first the fund are level allows the commission to enhance investor protection activities by bolsters staff resources in our enforcements and examination programs, and continuing to develop an implement robust analytical models that identify regulated entities with high-risk profiles. second the resources would support staffing levels sufficient to speak capital formation by eliminating bottlenecks improving economic analysis sand more quickly roying authorizations to firms to engage in new lines of business. third, these funds would allow us to strengthen market stability efforts. currently the sec has fewer than 25 staff to monitor the 8 agencies that clear and settle an average of 6.6 trillion dollars in transactions every day. we believe a greater presence is needed. increased funding also would enable us to address important issues sump as mar