ambassador. james cooper examines long-term joblessness and how this is given from financial downturns in the past. we discussed the top 2012 senate races. the energy report serve a separate industry loans offer by the government. and how this might affect the programs. this is live at 7:00 a.m. eastern. >> i do not see evidence of wrongdoing by government officials. i do not want to minimize this. this is a bad decision.

on friday they continue the probe of the energy department. the recently laid-off 1100 workers. per >> the question him of in new unemployment figures. this hit a 17 year high with the population without a job. david cameron says the figures are disappointing but reduce the deficit. they also kill the questions on the controversy surrounding his defense secretary it resigned on

saturday. >> questions to the prime minister. thank you. i am sure the house will wish to join me for giving tribute. they were extremely committed in service --committed servicemen. this to be with their families, friends, and colleagues. this morning i had meetings with colleagues and others. i shall have further meetings today. >> the whole house will want to endorse the words about our his historic service. i want to see the earliest possible resolve. >> what is the prime minister

going to do about those already in the late 50's who have seen them. they now face eight an increa se. >> his right to identify it. of course we are right. we know there are a group of people affected by this. they have to work for an extra two years. to work at what we can give. >> can i join the prime minister in joining tributes?

these were exceptionally courageous many died serving their country. my deepest condolences. a year ago the prime minister justified in the economic policy by saying it would go next year. given it is risen by 114,000 today, it is in a time it is planned? >> these are very disappointing figures that have been announced today. every dog that is lost is a tragedy for the person and their family. they will do everything they can to help the people into work. this is why they have the biggest back to work program. him into a help to 0.5 million people.

this is why we have welfare reform. this is why we are reforming our schools. this is why we have a record number of apprenticeships spirit i excepts. he must not abandon the plan that has given us record low interest rates. >> this is not working. today's figures show it is not working. it is his failure that means we -- whatly 1,000,001 peopl

this government is pledged to do is everything we can to get our economy moving. that is why we cut corporation tax and why we are reforming the system. this is why we created the zone. i know what he wants. he wants us to change course on reducing our deficit. we would end up with interest rates like portugal and spain and italy. we it would send our economy into a tailspin. >> we want people to get back to work. what the prime minister does not seem to understand that unemployment goes month of.

the cost goes up. hear people are in work. teen-age a credible flight for growth. it is not just young people. when was the last time the unemployment reached a level it has today. >> he is wrong. there are 50,000 more men and women than there were at the time of the election. there are half a million more credible jobs. he specifically asked about a credible growth plan. i would ask where is his incredible growth plan? why is it that the former chancellor said this? if you do not have a credible economic plan, you are not in the races. whatever people think of what is

being set on either side, they must not shout their heads up. they will be heard. that is the end of it. >> no. our plan is supported by the cbi, imf, oecd. he cannot even get support from his own former cabinet members. i think the economic proposition that labor put is unconvincing. how can he convince the country? he says it is inconceivable. civic the, he did not answer the question on women's unemployment. women's unemployment is at its highest level since 90 and 88.

the last time there is a conservative government in power. he should be apologizing to the women of this country for what he's doing to this economy. last year the chancellor announced its flagship policy in growth. the national insurance holiday would help 400,000 businesses. can the prime minister tell us how many businesses have taken part? >>? 7000. >> and on the issue of women and work, of course i want to see more women in work. there are more at them when i

was an election. but this free talk care for all honorable two-year notes, that it is acceptable. they announce that we will be giving child care to all people working less than 16 hours. they are helping hundreds of thousands of women and families out of poverty. he cannot convince the corneforr secretary that he has any idea what to do with the economy. to not be working with the imf to sort out the eurozone. to be going to the imf to sort out alone. >> when he says 400,000 will

benefits, it is to tell him something. us andsn't he agree with pour more money into people's pockets? how did they invest in getting young people back toward? >> when a big going to learn the cannot bar your way out of a debt crisis? they left as the biggest deficits. what is their answer to borrow more money? is it any wonder that the former trade minister said that he described the labor leader's speech as a device if thing for this.

it is about a labor policy. he is no credibility whatsoever. >> what a terrible answer. i will take on those companies you're doing the right thing by the energy company. let me just stay on the day of the worst unemployment figures in 17 years, at the prime minister is fighting to save the job. he is doing nothing to save the dollar of hundreds of thousands of people. it is one rule of fear and the cabinet.

it is another role for everyone else. >> i think after that they needed more. what they have got to do is accept some responsibility. you are the party that borrowed too much. it left us with the mess that we have to clear up. when you see them sitting on the front bench who work for so long, you have to ask yourself. you're not bring him back to sort out the banks. >> the house will want to hear. >> the head of our service was

richard. he deplored the fact that no senior british bankers have been prosecuted for their irresponsibility. they have urged the legislation should be introduced as soon as possible. they prosecute such offenders in future. in is a requirement into what went wrong. as there is room for prosecution, there is. our responsibility is to make sure we regulate the banks properly. that is why we put the bank of england back. >> cribbs when will the prime

minister publish a full list since may 2010? >> i am very happy. >> will he agree that in light of these times it is even more important that this government continue the support for continued investment. >> it is on both sides to help

with that very important visit. it is a great british company. it is not from our defense budget. we are investing in aircraft carriers and unmanned aerial is. i will do everything i can to support that company. the japanese cannot be talking to them. we need to make sure they go on. >> imperial healthcare offers outstanding political care of research in three major areas. it is getting 5% for five years. >> we are increasing spending throughout parliament.

there is a complete contrast to the opposite policy. they have a new health spokesman. it is irresponsible to increases in real terms. it is irresponsible. we disagree. >> thank you. >> children live in families that do not provide them with the stable environment that they deserve. that led to many of our social problems. with the prime minister agree that we need to do all it can to help some of the problem family is? >> i completely agree with my honorable friend. if you look at the evidence, some of the most troubled family is get a huge amount of intervention from the police and

social services and education. no one is really getting in there to turn those families around and change what they did to give them a better chance. we are establishing a new units. going to put in huge resources into turning around the most troubled families. i think we can make a huge difference for the families and reduce the burden they place on the tax payers. >> they make representations about the government and parliament. prime minister is doing mistakes. she is being put on trial for policy decisions she took.

they would not have the membership talk. >> we completely agree. and it is absolutely disgraceful. they made a strong statement. if they leave the situation as it is, it affect their relationship with the european union and nato. >> small-business is key to job creation. >> it is noble. there are hundred business leaders in my constituency. they came to support the early

investments. they said this could be replicated. >> this there recognizes that it will be businesses that provide the growth and the jobs. this is why we have an agreement to increase lending. that is why we are per -- providing extra rate relief. we're giving the smallest businesses a holiday. i applaud all efforts at our local effort to give them the support they need. >> >> it is a home that we say we do not agree with the committees. if states in number of some of again points. given the financial case was 50%, they now agree that the archive should be protected.

will they review the decision? >> i will look at what he says. i lifted this decision and some detail. they knew they were there. the evidence was overwhelming. >> he inherited a welfare system or they were able to play a week. some are worse off. what can the prime minister do? bacon more card because of that pride in their response ability. cracks he speaks for millions.

people want a welfare system that helps people. is putting inng place a cap so you cannot have these of certain amount of money going to individual families. sometimes 2,000 pounds a week. to the party opposite that claims of a decade of people giving something for nothing, but see if they're prepared to back that. >> >> should he or she keep their jobs? >> it is very clear that it is for the prime ministers to decide whether someone keeps their job or not. it is important when the leader

is letting us allow the cabinet secretary to do his work to establish the fact that a decision can be made. i think they have done an excellent job clearing out the complete mess. >> it is too fast for many women. there's transitional arrangements. >> we have looked. we will be making an announcement. we have to look at the most difficult cases where people have an extra amount of working time they would not have to do. it is right. the equalize the pension arrangements. it is given the extra longevity

we enjoy. >> both the prime minister and the leader are in support of gender equality. will the prime minister of state the house? with othering it commonwealth leaders. today not agree that is better that resolve this matter before rather than after in the future children are born? >> i believe it should be sorted out. in terms of the consultation, i have written to the heads of state and the prime minister of the other realms. we will be having a meeting. there may be issues from the legal process. i'm claire is an issue we ought to give sources.

>> does the prime tester agree with the recent advice? there's a misunderstanding of business. this is to generate wealth investments. what is that they did their announcement? is a lot of us out to these difficulties. was the prime minister aware that the chief spokeswoman was a former colleague? >> this is being looked at by the cabinet secretary.

let the questions be answered. >> is my friend aware that 40 members have found an amendment in my name using my knife in a threatening foundation. it is not just those over 18. >> we want to move ahead with a mandatory sentence for adults. >> he said four days ago that the government should use the year of crisis as an opportunity to loosen the power over britain. one is the prime minister going to tell the european union that

this has to be used? >> he gives me some excellent advice. what britain needs to do is get behind the solution to the eurozone crisis. it is having a chilling affect on the whole of the european economy. this is the first priority. it is going to be important to have some safeguards. we need to make sure the single market goes on working for the united kingdom. >> last weekend they opened a new thing. they advertise 25 new jobs. does the prime minister agree that there be furthered the news if they commit to the flow?

>> he will certainly keep the pressure on the banks. many people compare it to the time of the election. when need all the things that help businesses to grow. we have them in agreement. it is increasing the lending. we to make sure at other ways to expand credit. >> impressive young people campaigning against writing used for unemployment. can you tell us what happened to him earlier this year to reverse the trend of?

>> it went up since 2004. what we need is a comprehensive strategy that deals with all of the problems of unemployment including the fact of their to me people leaving school who's been 13 years under a labor education secretary. they need to take some responsibility. is about making sure we have better education. it is a work program that does not provide phony jobs and provide real work for young people. >> a recent alliance report dealt with that spirit 38 union leaders were enumerated at over 100,000 pounds. that included derrick simpson.

he received over half a million pounds. does the prime minister agree that this time for the pay restraints? >> that is the interesting thing. the always listen to the traders they never listen to the taxpayers. they do not want to hear about excessive pay. here is another question. can he get a glimpse? does he understand about them talking about their own pensions? >> let me answer him directly. we will protect the time from that vital debate.

i think it is very clear we have to show restraint at a time when the rest of the public sector is being asked to show restraint. there will have to be a debate. it will not lincoln to the time from the debate he mentioned. >> this is the action he is taking to reduce our reviewer in our education system. it is a ridiculous situation on our own government 122% studied proper academics. >> i think he's doing a superb job of focusing schools, including english and math and making sure we look at the english baccalaureate which includes the core subjects. they were not done for 13 years. >> considering he met

yesterday, and the agreements made in 2001, that there should be a public inquiry. cripes i have not reflected carefully of what was said. i reflected on this whole issue for many months. i believe that the right being for northern ireland and everyone is not to have another costly and open and a public inquiry which may not find the answer before the purchase government to do the really important thing. it is to tell the truth about what happened 22 years ago. we do not need an inquiry to tell this. that is why my friend will be making a statement on exactly who will be involved. the greatest healer is the

truth. they can do the right thing. >> join me in welcoming the new one. it will be released. they have a long way for peace in the area. >> i am grateful to my honorable friend for raising this case. if anyone reflects somewhat on the young shoulder has been other, it is something in you would find difficult to complicate. i wish him and his family this. >> next, the dedication ceremony for the walter -- martin luther king memorial. robert muller announces details of a plot to assassinate the saudi ambassador. the senate banking committee

hearing on sanctions against iran. >> president obama begins a three day tour of south carolina and virginia. he will be talking about jobs in the economy. we will have live coverage of 10:50 a.m. eastern on c-span. >> it is a sad story on the topic of your choosing. every story has a solid middle and is strong and. -- has a strong ending. quite see do not need the best the equipment. cell phones do a great job. if you do not have access, did not let that stop you.

if the need more help to go to studentcam.org. >> sees them of the state organized. i find it useful to read the rules carefully and a checklist of what you need to do. it becomes clear want to get started. >> you can mark alone or on teams. get a friend to help out. not only will you learn something that you increase your chances of winning. >> you do not need to be an expert to make this work. you can use your parents, other students, teachers, and c-span as resources. this process is fun and extremely rewarding. with a little bit of effort, area >> president obama was

among the many who gathered on the national mall this morning. other attendees including the children at the center. the ceremony also featured performances by our system including aretha franklin and stevie wonder. from the nation's capital, it is a little over.

♪ ♪ ♪

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♪ ♪ >> ladies and gentlemen, please, be seated.

>> now welcome the master of ceremonies, moderator and managing director of "washington week. >> good morning. you have no idea how beautiful you all look today. thank you for joining us on the national mall in washington, d.c.

welcome to everyone across the country and around the world watching and listening. today we celebrate the dream. we dedicate the martin luther king jr. memorial. reaching the stay in getting to the destination has been a long journey. and is marked by setbacks and scars will been deeply into the fabric of our american history. this began long before we were even born. it is a journey that paves in the past toward freedom and justice and the dawn of the civil rights movements. it would be easier to dwell on the diversity of the adversity and indignities, injustice. then it began a short trip to the inspiration's that arose from every challenge we face. he knew well above the unc

ashed promissory notes. yes and no bought the dream. we get to your reflections on those who marched with them, or inspired by him and those of us who benefited from his vision. his vision was not a unique 1:00 p.m. he taught his children to stay thank you when we were insulted. to take the sting out of the taste a word he gave voice to the voiceless. most were striving to be heard. they did not have to stay on the grounds. it is today i decided to use a

little bit of today's technology to bring some of those voices to life. i asked on twitter, "what does martin luther king jr. do for you today?" the answer came immediately. an attorney wrote to starting in setting career as a physician "i tried to live his word. we can all be great because we all can serve." jerry wrote, "he held me weed out thesomeone else wrote that . king continues to teach me from his gift of language and wisdom. his words are scripture for me still. someone else said that they always remember that there

comes a time when silence is betrayal. dr. king spoke for us all, even for those of us who did not realize it at the time. he spoke of hope, expectations, and of a dream deeply rooted in the american dream. we welcome dr. joe samuel ratcliff. [applause] >> may we pray? we have crossed this river, but oceans of lie ahead. oceans of challenges, opportunities. we thank you this day for the journey. we thank you thi we thank you for all that you

have afforded us as we pursue democracy, love, justice, and peace. when our ears become too full of our own sounds and our eyes become full of our own visions, deliver us so that we can continue to fight the struggle and make the dream come true. it is in his name that is more than able to keep us. amen. >> ladies and gentlemen, the honorable vincent gray, mayor of the district of columbia. [applause]

>> good morning. it is my great honor to welcome all of you this morning to the nation's capital, the city that has the privilege of hosting this long-awaited and long overdue memorial. the district of columbia is proud to serve as home to the king memorial celebrating the american ideals that dr. king heroically sought to make a reality. freedom, justice, democracy. today, we gloriously honor dr. king's legacy and dream. for the 601,000 residents of the district of columbia, that dream remains unfulfilled. as a resident of the district of columbia, i know all too well that most americans do not.

if you live in washington, d.c., you do not have a vote in congress. we pay our nation's taxes. we fight our nation's wars. but we have no vote. ironically, the nation's capital is the last remaining battlefront of the american revolution. residents of the district of columbia live in a state of tierney, taxation without representation. -- live in a state of terror and the -- tyranny, taxation without representation. are king marched on this issue. he said congress was derelict in their duties and sacred responsibility to make justice and freedom in reality for all citizens of the district of columbia. yet all of those years later,

those who live in our nation's capital are still denied the right of self-determination and representation. the district of columbia cannot even approve our own local budget, a local laws, without permission from congress in which we have no voting voice. day in and day out, the residents live under the yoke of injustice. it is time for this to end. [applause] as we celebrate this momentous dedication, i implore all of you, mr. president, members of congress, stand for the people of the district of columbia. stand for the legacy of dr. king. remove the shackles of oppression so that when we recite the pledge of allegiance, we truly mean liberty and

justice for all. [applause] on behalf of the citizens of the district of columbia, let me underscore how honored we are to hold in our city the stunning memorial to an extraordinary man and his powerful dream of freedom and democracy. we join with all americans of good will to keep up the fight to make dr. king's dream a reality. thank you very much. [applause] >> i am honored to introduce a man who has been on the cutting edge of social change since his days as a college student leading demonstrations in atlanta. he was founder of the student- nonviolent committee at morehouse college, chairman of the naacp, prof. of history of

the university of virginia. julian bond has been an active participant of the movement for civil rights, economic justice, and peace. ladies and gentlemen, please welcome the honorable julian bond. [applause] >> thank you. i am one of those boat region vot -- i am one of those voteless citizens of the district of columbia. dr. king was my friend. i have known his children since they were children and his sister just as long. our families lived next to each other. the people who will follow me at this podium or a constant presence in our neighborhood. i was not far from him on the

washington mall on the magic day in august when he delivered his famous speech. it is hard to summarize all that he meant to us when he was alive and how great our loss is now upon his death. the true measure of any man is how his message continues on after he has passed from the scene. we have recent proof that martin luther king meets that standard. 32-year-old winner of the nobel peace prize said just last week that martin luther king inspired him because he sought change peacefully. we tried to create change using the same methods. his message resonates around the world justice is stored millions of us and continues to do so today. since he died, a constant question are received.

i received whenever an advance was made was what with dr. king think of this? would he say that these things would not have happened if he had not lived? i have always felt he would be pleased whenever any element of racial progress occurred, but he nirvanat think upsethat had come or try to claim credit for everything. i think he would say that he would like someone to mention that dr. martin luther king, jr., tried to give his life serving others. i wanted to say i tried to be right on the war question. that i did try to feed the hungry. i wanted to be billed to say that i did try in my life to clothe those who were naked,

tried to visit those in prison, tried to love and serve humanity. say i was a drum major for justice, peace, righteousness, racial equality, economic justice, world peace. those were the themes that occupy the life of dr. king and his family members. three of them are with us today. here to tell us of their father and brother are his oldest son, and brother. now let us welcome dr. christine king farris.

[applause] >> thank you, mr. bond, the king family, the fraternity, staff, friends, and all of you assembled here today. i stand before you today as the person who knew martin luther king, jr., longer than anyone now alive. in fact, i was there in our home the day he was born january

15, 1929. he was my little brother. i watched him grow and develop into a man destined for a very special kind of greatness. it has been quite a journey from the cold january day more than 82 years ago to today when i first laid my eyes on my baby brother. now i am standing alongside an african american president at the dedication of the martin luther king, jr., memorial on the national mall. [applause] during my life, i have witnessed a baby become a great hero to humanity who provided a

hope and inspiration to the freedom-loving people everywhere. i just want to say to all the young people coming up that great dreams can come true. america is the place where you can make it happen. i know that our president will agree with me on this. it was not far from here where my brother, martin, told america about his great dreams for our country on this day 40 years ago -- 48 years ago, he shared the dream with us on the sweltering august afternoon. it is really the heart and soul of the american dream. it is what this country must always be about so that we can

light the way forward to a new era of peace and prosperity for all people in all nations. i remember a another lovely afternoon in 1983 when another president of the united states signed into law a bill to name my brother's birthday a federal holiday. that too was a day of hope and healing. i do not think my brother's legacy could get much larger, but i was wrong. here i am overjoyed hand humbled -- and humbled to see this day when my brother martin takes his symbolic place on the

national mall. [applause] it is near america's greatest presidents, including abraham lincoln, thomas jefferson, and franklin roosevelt. this is just overwhelming. my brother was never one to seek great honors. in fact, he was self-effacing. he was amazed and humbled to receive the nobel prize for peace back in 1964. i want to thank the alpha phi alpha fraternity for having the commitment and dedication to

conceive of this project and see it through by honoring dr. martin luther king, jr., was such a wonderful statute on the national mall. you have insured that his legacy will provide a source of inspiration for people all over the world for generations to come. my brother was an alpha himself. he was deeply proud of his fraternity brothers when they came to the aid of our non- violent freedom struggle again and again with urgently needed contributions and volunteer support. now against all odds, you have built this beautiful monument which brings honor to our country and hope for coming

generations. in closing, i want to thank each of you for joining us today. your presence is also an affirmation of my brother's legacy and the great blessings of liberty in america. let this wonderful day mark another step towards the fulfillment of the dream. let all hearts be joined together as we move forward into the future united and determined to create the beloved community in america and throughout the world. i thank you. [cheers and applause]

>> please welcome rev. bernice king and. [applause] >> i thank god for the presence of our aunt. good morning. thank you for joining us today as we dedicate this monument to a man inspiring vision and transformative action, father,

dr. martin luther king, jr. it has been a long time coming. the vision of my father's return to take was to build the monument, the establishment of the king memorial establishment. an act of congress, 10 years of fund-raising, and a lot of hard work, an earthquake, and a hurricane. but today, we are here. thank god we are here. it is a great time of celebration. the entire king family is proud to witness this day. i am especially proud to stand here as one of the four children to whom my father spoke of thes thhe american dream that someday we will live in a nation where we are not judged by the color of

our skin but by the content of our character. today represents another milestone in the life of america. this is a day that all americans can be proud of. may i remind you that this is not just a celebration for african-americans, but for americans and citizens around the world. no doubt, today the world celebrates with us. today, our nation acknowledges that this memorial represents a stairstep beyond segregation. a preacher from the south effected a social change that helped to redeem the soul of america. i want to express my gratitude to each person, organization, corporation, entity that contributed to what we see here

today, from its conception to its realization. however, we would be remiss if we did not also recognize and honor the life and legacy of my mother, mrs. coretta scott king. [cheers and applause] after the assassination of my father, she raised the question of children. she also raised a nation in our fathers teachings and values. -- after the assassination my father, she raised the four children and raise the nation in our fathers teachings and values. she spearheaded the effort to establish the king center in atlanta as the official live and memorial -- living memorial to

dr. martin luther king, jr., and then went on to champion a national holiday commemorating our father's birthday and a host of other efforts. in many respects, she paved the way and made it possible for a man who was the most hated man in america in 1968 to now be one of the most loved the man in the world -- one of the most loved men in the world so that we would be able to build a memorial in his honor. thank you, mama, for your dedication and sacrifice. we're proud we were able to share our parents with the world so that we are able to be in a better place. [cheers and applause] she did not just institutionalize his words and

principles so that we would only remember him, but also so that we would be compelled into action utilizing his philosophy and strategy of non-violence. it is no accident that the official dedication could not occur on august 28, the anniversary of the "i have a dream" speech. powerful, prophetic, and passionate, one of the most well known speeches around the world. could it be that the speech not taking place on the anniversary is indicative of god wanting us to move forward? as we survey the current events and the global cries for the alleviation of poverty, we are being pulled from the familiar

and comfortable place to focus on another aspect of dr. king's life. perhaps the postponement was a divine interruption to remind us of the king and move us beyond the dream of racial justice to the actions and work of economic justice. perhaps god wanted to remind us that 43 years ago when our father was taken from us that he was in the midst of starting a poor people's campaign. he was galvanizing poor people from all walks of life to converge on this capital, stay here, and occupy this place until there was a change in the economic system and a better distribution of wealth. perhaps god wanted us to move beyond the dream into action.

maybe we were not able to dedicate this monument on august 28 just because of that. he said to us that it was time to readjust. over 43 years ago, he told us that we must become maladjusted to certain social ills. we should never unjust to 1% controlling more than 40% of the world. we should never adjust to a high number of people unemployed. we should never adjust to any person being without health care because they cannot afford it. we should never adjust to an increase in people moving into poverty. we should never adjust to violence of any form, bullying -- form of violence, bullying,

practices that profile people because of their color, ethnicity, or nation of origin. we should never unjust to a -- and just -- we should never adjust to a judicial system that allows us to take a life or of guilt is still in question. as we dedicate this monument, i can hear my father say that oppressed people cannot remain oppressed forever. the yearning for freedom eventually manifests itself. as we dedicate this monument, i hear my father saying that what we're seeing all across the streets of america and the world is a freedom explosion, the deep rumbling of discontent we hear today is the thunder of disinherited masses rising from the dungeons of oppression to

the bright ills -- hills of freedom. as we protest, we must conduct ourselves on a higher plane of dignity and discipline. we must have a radical revolution of values and a reordering of our priorities in this nation. i hear my father saying that as we dedicate this monument, we must rapidly begin the shift from a thing-oriented society to a person-oriented society. i hear my father say that one of the great liabilities of our history is that too many people in greatemain awake times of social change. every society has its protectors of the status quo and its fraternity of the indifferent

who are notorious for sleeping through revolutions. today, he says our very survival depends on our ability to stay awake, adjust to new ideas, remain vigilant, and face the challenges of change. these words are dripping with truth and conviction as much now as when originally spoken. we can allow them to propel us into action that response to the discontent of the disinherited, conveying that we stand together in seeking a distributed inheritance for all. the action reflects our commitment to not allowing a focus on gaining things to deter us from compassionately engaging people, action that reverberates with the common desire for the manifestation of freedom, action that resonates

assesthe discontented mouse' supporting social change, and demonstrating that we are way -- awake at this time of revolution. let us walk together, children, and not get weary. let us work together and not get weary. let us struggle together and not get weary. let us hold on together and not get weary. let us bus and fight to get over it together and not get weary. most of all, we must pray together or we will get weary. one day, we will all be able to say, "free at last, thank god almighty, we are all free at last." god bless you. [cheers and applause]

>> please welcome martin luther king, iii. >> first, let me thank god for the opportunity to be here on this day that many in our nation would say is the sabbath day. to each and every dignitary here, and i would say that everybody, but to especially brother harry johnson and his

staff for the tireless work to make this memorial a reality, we say thank you. also to the martin luther king foundation board and chairs, every contributor, every corporation, but perhaps most of all to the masses of americans who chose to contribute to this effort that would not be here but by the contributions of men, women, and families. we think each of you -- we thank each and everyone of you. on behalf of my wife and daughter, we say thank you. today we have come to participate in this unveiling ceremony to my father and to

celebrate his legacy. let us not forget that he paid the ultimate price for our civil rights. he was a champion of civil rights and social justice for all people regardless of race, gender, sexual orientation, or nationality. we must stand up for social and economic justice. 48 years ago, our father stood in this facility in the shadows of the lincoln memorial and gave a speech that was to resonate around the world. he said that he had a dream that with faith in ourselves and our country we would be able to hew out a mountain of hope. with faith, we would be able to transform the discord of our nation into a beautiful symphony of brotherhood and sisterhood.

with faith, we would be able to work together, stand up for freedom together knowing that one day we would all be free. i repeat his words because i believe it is important to emphasize that while it is great to have this memorial to his memory, a national holiday, streets, schools, and hospitals named in his honor all over our nation and world, it is also important to not place too much emphasis on martin luther king, the idol, without enough emphasis on the ideals of martin luther king, jr. while we commemorate his memory with this great memorial, let us not confuse or forget what he stood for and died for. young people around this nation

organizing is interesting. let us not forget the ideals he gave his life up for, love, peace, equality, jobs, education, non-filers, decent housing, and then in the -- and an end to war. the young people of the occupy movement are seeking justice and jobs. they want justice for working- class people barely making it, middle-class folks who are not able to pay their mortgages, justice for elders terrified that they are losing the value of their savings in health care. justice for the young people who graduate from college and are unemployed and burdened by its to lows they cannot replace -- repay. justice for everyone who are

simply asking the wealthy and corporations to pay their fair share. sometimes we get caught up in the brand of my father, but we forget to focus on the beliefs of my father. we must stand up for economic justice. we have lost our love force, our true force. you could make the argument that we have ultimately lost our souls. we have lost our souls when i see james craig anderson was brutally murdered in june of 2011. we have lost our souls when i see children bullying others and young teenagers killing each other. we have lost our souls when prisons are a growth industry.

there are more black and brown folks in prison than in college. that must change. we have lost our souls when the united states supreme court decided in brown to strike down a state law that regulates the sale of violent video games to children. we have lost our souls when 30 years of failed public policies -- taxes fortax break the rich while breaking the backs of the poor. it has sent this country in the world into an economic crisis. we lost our souls when we continue to fight two wars that cost us $3 trillion and thousands of american lives, iraqi lives, afghanist lives, ad

others. we're here to commemorate my father. we need to live like him, love like him, and care like him. yes, my father had a dream that was deeply embedded in the american dream. the problem is that the american ago has turnedars was into a nightmare for millions of americans. there is no house because they have no job. they cannot give their kids the proper tools to prepare them for a better life than they had. i submit we need a new american dream of connectedness, mutual purpose, caring, and being responsible for each other. we need to live up to the promise of the statue of

america that says, give me your tired, huddled masses yearning to break free. we need to understand that none of us are free until all of us can be free. we need to have a new spirit of cooperation in this country based on love, respect, and a sensitivity to the least of these among us. that is what my father wanted for this country. i am proud of this great memorial to my father and hope it will serve as a catalyst for us to adopt his ideals and beliefs. a renewal of decency, sensitivity, and love. love, he so often talk about. we must stand up for justice because now is the time for all humankind. america, this is our chance and opportunity to show the world

our greatness, to throw off the shackles of all of the conservative policies that exclude masses of people. we must finally get rid of racism. today of this great moment in our collective history, join with me to stand up for justice.

, more importantly, let us live as dr. king envisioned when he described how all of our destinies are tied together. we are linked together. i cannot be what i ought to be until you are what you ought to be. our destinies are tied together. that is what he said. today let us meet the challenge to finally embrace and become what we know we must become. that is a beloved community. no matter how far we have to go, do not get tired because we have truly come far from where we started. nobody ever told any of us that our roads would be easy. i know our god did not bring any of us this far to leave us. thank you. god bless each and every one of you always. [cheers and applause] [cheers and applause]

[cheers and applause] upthey perform "can't give now." >> it is and honor and privilege to be here and part of this dedication ceremony. we know that we did not get here alone. god did not bring us this far to leave us.

♪ that is not our track. [laughter] it was lovely, though. [laughter] if we need to, we can sing this acapella. ♪ out here not bring me to leave me lonely even when i cannot see clearly, i know that you are with me.

i cannot give up now. i have come too far from where i started. nobody told me that this road would be so hard. i cannot give up now. i can't give up now. i have come too far from where i started. it is not going to be easy, but i do not believe that god has brought me this far to leave me.

i have come too far. nobody ever told me it would be easy. it has been a little rough. i cannot give up now. i have come too far from where i started from. no one said it would be easy. nobody said the road would be easy.

i do not believe he has brought me this far to leave me. ♪ ♪ i do not believe that god has brought me this far to leave me ♪ god bless you. >> another hand for mary mary. [applause] it's like being in church even though you're not there, we get it passed today, right? yes, we do. to continue our celebration of the dream, we turn to reflections of those who marched with and were inspired by dr. kent. it is might distinct pleasure to welcome former cbs news anchor dan rather who covered the civil

rights movement and those who walked beside dr. king and have lived his legacy in the years since, the rev. jesse jackson, congressman john lewis, ambassador andrew young, and our elder statesman, reverend joseph lowery who turned 90 years old, 90 years young just last week. welcome. [applause] dan -- >> thank you very much. i'm humbled to be here. heroes are honored in their time. legends live through the ages. while considering dr. king's legacy, an obscure poem called "lifters and leaners" comes to mind. dr. king was a world class

lifter. others leaned on him, i never saw his shoulders give way or his backbend. he was as great a man as i have ever seen. the historical weight of this long overdue monument reminds us that we must be lifters' now. in the 1960's as today, divisiveness was based on fear and prejudice and misinformation. now with the cost and 24 hour news cycle, the power of misinformation has increased. we must remind ourselves that intelligence drums in ignorance every time -- trumps ignorance every time. when given the facts, people make good decisions. that leads to a problem dr. king faced 50 years ago, one that is worse today and that is the

court for visitation, the politicization and the trivialization of the news. dr. king once spoke candidly with me about the news coverage of the civil rights movement. nationwide especially in cities like jackson. there was a little news coverage at all anywhere. he was also concerned that southern affiliate's stations would persuade the networks to tone down if not eliminate coverage that went out to the rest of the country. at the time, frankly, i did not feel his concerns were warranted. the than owners of my network in my bosses in new york work rock -ribbed when it came to reporting the news. and yet, in retrospect, i can't ignore that the cbs affiliate at that time in atlanta, dr. king's

home town, refused to carry some cbs news reports about the movement in 1962. they censored them. today, different owners and many big money special interests are more closely intertwined with more colluding with big political special interests than ever for their own, not the people's purposes. [applause] in dr. king's time, his main battle was against racial injustice, a battle for from over. now added to that is the fight against agreed and for economic justice. this time we judge people not on the content of their character but on the color of their money. once again, once again we have americans outside looking in. this time, many people of all

races and creeds feel stuck in a rickety, rudderless boat of economic injustice and are struggling to make their voices heard. many in white america supported desegregation but did not support the demonstrations and passive resistance that dr. king had learned from perrault and gandhi. --thoreau this creates ambivalence on the part of white americans. it gave local government the opportunity to skew the news and crushed coverage their way. does this not sound familiar? the lifters such as dr. king must have felt the weight of a million in justices but hewn like this strong -- storm like this, he was able to carry the weight. for every lifter there are

hundreds of leaners but on this day standing in front of the statue of american hero,icon, and legend, we are reminded that we must all be lifter's now. we cannot wait for others to carry our message is and lift our share of the load. although dr. king's legacy can never be summed up in a few minutes, let me leave you with this -- there is heavy lifting to be done again and in the spirit of dr. king's lasting legacy, we need to start now. thank you very much. [applause] [applause]

>> i pause to honor the living monument of martin luther king jr.. i want to be a part of this ceremony as we edge in stone the memories of dr. king. want to thank congressman john conyers who three days after the assassination put forth to the bill and it was popularized in song, ronald reagan signed the bill to help erect a monument. to all of them, we owe a very special round of applause. put your hands together, will you? [applause] i was glad to be a part of his core of disciples to work, organized a march and parade with him. here are today, one of the 32 miles from jamestown where the slave ships when the 432 miles.

i remembered my last birthday with dr. king, january 15, 1968. he was planning a march on washington. it was a poor people's campaign to occupy the mall. were willing to engage in civil disobedience to do whatever was necessary in the nation's capital to get the attention of the government to shift the war in vietnam to a war on poverty at home. in his last sunday morning sermon delivered at the washington national cathedral, four days before his assassination, dr. king said we're coming to washington to demand that the government addressed itself on the problem of poverty. the rhetorical question of what was necessary -- dr. king declared is our experience that the nation does not move around questions or

genuine equality for the poor and black people but for the confrontation massively in terms of direct action. the image of confrontational king may not be pleasing to those who want to wash the blood stains from history but is useful to those who value the truth of kings' lead more than the myth of the man. dr. king argued that racial injustice is not enough of a burning house when you're living with recycled poverty and paid. we should be appreciative of this monument but said, said because congress is in rebellion and citizens are facing intense pain. maybe the 14th amendment and bill us out of the congress will not. we're sad because of too much concentrated wealth, subsidized and born of government protection, too much poverty borne of government neglect, to

many of wars, to my children killing children, too many jobs leaving and too much drugs coming. we can and malnutrition now. we can relieve student loan debt now. dr. king would be said that america had a moment and history of historic proportions in 2008 but they elected barack obama. yet that reduction has been met with unrelenting retribution, retaliation, then on and on printed -- unprecedented opposition. people seem to be willing to sink the ship just to destroy the captain. we have to be better than that. [applause] like lyndon baines johnson, poverty was restored in the great society. dr. king would not settle for shifting the chairs on the deck of the titanic. he wanted to plug the holes to stop the water from coming in.

43 years after dr. king's plan and occupation on this same spot, he would say to the occupiers on wall street, the movement has gone global and you are the offspring of dr. king. in that legacy, keep protesting. remain nonviolent. stay disciplined, stay focused. don't just before fios system, restructure it, march 4 and even playing field, public rules, clear goals, transparency and march on to fight racial injustice and economic inequality and fight the economic and racial injustice. we all matter. dr. king would say you must use the right to earn for the sacrifice and blood of the martyrs bridge you must use your

minds and bodies as living sacrifices. you must use your vote, are passed legislation, litigation, and laws to protect the vulnerable. use your love building coalitions to remain focused on being the road of hope for those in the hall of the ship, the 99%. dr. king argued that leadership at its best was not meant to follow public opinion polls. it was meant to mold public opinion. to not do what is convenient are popular, do what is right don't be compromised to your vision. we fall down sometimes but we get up again and again because the ground is no place for a champion. job says though you slay me, my worst fear is that i've would not get up again because i trust in god and i know my redeemer lives.

victory is certain, keep hope alive. [applause] >> ladies and gentlemen, please welcome representative john lewis. [applause] >> good morning. it is good to see everybody here on this beautiful, beautiful day. first, i want to thank harry johnson sr., president and ceo of the washington dc martin luther king jr. national memorial project foundation. his board of directors, dana kurtz and his entire staff. i want to thank the man from alpha phi alpha and average

citizens who made this dream come true. thank you for building a monument, a monument to peace, to love, and nonviolent resistance. on the front yard of america to symbolize the cornerstone of our true democracy. it was 48 long years ago when thousands of us long for freedom. we were in the shadow of the lincoln memorial. many of us were fresh from the jails of the hard south where the front lines of the struggle for human dignity and america was. together there in peace with their hearts in our hands, open to see some sign that our cries would be heard in the cold

marble walls of this distant capital. martin luther king jr., this man, this brother, this citizen of america, this citizen of the world, was never in the program lineup. i was number 6. for those who spoke that day, i am the only ones still around. dr. king was our leader. he never, ever asked us to do anything that he would not do. he was arrested, jailed, beaten, and constantly harassed. his home was bombed. he was stabbed. he suffered the slings and arrows of hate in a grassroots struggle to prove that love had

eternal power to overcome the limitation of hate. had it not been for the philosophy of peace, the philosophy of nonviolence that he preached, and his insistence on the nonviolent resistance based on brotherly love, this would be a different nation. we would be living in a different place today. but martin luther king jr. must be looked upon as one of the founding fathers of the new america. this man is one man. he not only for a people but he liberated a nation. we are here, all of us, black and white, latino, asian american, and native american - we are here because this one man did what president have been unable to do.

he ended with the civil war could not finish. he challenged the most powerful nation on earth to meet its moral obligation to look out for its people and look out for those who had been left out and left behind. this doctor, this creature, this man from atlanta, ga., taught us how to love. he taught us to lay down the burden of hate when he was too heavy a burden to bear. martin luther king jr., a think a few short years ago when he came to washington 48 years ago. we had signs that said "white man, a colored man, white women,"colored, those signs are gone and will not return. [applause] the only place where children

say those sizes in a book or a museum or on a video. i hear too many people saying 48 years later that nothing has changed. , a walk in my shoes. dr. king is telling you that we have changed. we are better people. we're a better nation. just think a few short years ago when dr. king stood on the steps of the lincoln memorial, we could not register to vote in many parts of the deep south. we had to pass a so-called literacy test to count the number of jellybeans and a jar. because of the work of martin luther king jr., and the work of hundreds of thousands of millions of people, because of the leadership of president kennedy and president lyndon johnson, we live in a different place. people ask me over and over

again, was the election of barack obama fulfillment of dr. de -- dr. king's dream? it is only a down payment. we are not there yet. too many people have been left out and left behind. go's use this occasion to out and finish the task, do what we must do to create a better world, to create a more perfect union. hang in there, don't give up, don't give in, don't give out, keep your faith, keep your eyes on the prize and a walk in the spirit of martin luther king jr.. thank you very much. [applause] >> ladies and gentlemen, please welcome ambassador andrew young. [applause]

>> brothers and sisters, forgive me for starting out with a triviality. you think of martin luther king as a giant of a man but the one complex he had was a complex about his height. he was really just 5 feet 7 and was always getting upset with tall people who looked down on him. now he is 30 feet tall and looking down on everybody. [applause] he would be the first to tell you that he did i get his life for a statute. he gave his life for the least of god's children buried in the middle of the struggle when we began to work out the problems of militarism and the problems of politics and the dynamics of

getting people elected, they changed the rules on him. they changed the rules and the game is no longer just political. in fact, it is the economics that controlled the politics. people of atlanta sent me to congress and i was there at the scene of the crime when they began to break up and economic order that had been started by franklin roosevelt in 1944. at the end of 73 they changed it. a little later on, they changed something called regulation q. this is what put you out of your house and why your mortgage is not worth what to pay for it. they changed the rules in the congress. and then the savings and loans went out of business because they left housing and started building casinos and resorts and everything else.

when they went out of business, the commercial banks get into housing. they did not know anything about housing. they started packaging mortgages in something called derivatives and they sold them all around the world and they were not worth a damn. then when they went out of business, they call for the government to bail them out. and that was not good enough but there was a regulation call g lass-steagal. republicans change that. now the thing is all messed up. the problem in banking and finance is we have too much integration. [laughter] nobody really knows what they are doing and they are doing it in secret and they are not using their minds. they are using their greed behind. s. [applause]

in atlanta, we tried to straighten that out a little bit. i'm not against wall street. i am just saying that we have to learn the rules and use it to our advantage. maynard jackson said at the airport. it cost us about $10 million. we have had black mayors in atlanta ever 44 years. we have tried to do things within the economy and we have been able to generate jobs. the airport cost $10 billion but it generates $30 billion every year and creates about 60,000 jobs. kasim reed is adding an international terminal that will probably add another 5000 jobs. the system works if you know how to work it. martin luther king gave his life to end poverty. you will not end poverty by preaching. you and property by learning

some economics and sending your children to school, by saving your money, by getting financially literate and just like we won the battle of voting rights, we can win the battle of economic rights. that is what martin luther king would have you do now and a first step to that is to keep a president in office that basically has your interest at heart. [applause] this year, do that, god help us. [applause] >> ladies and gentlemen, please welcome rev. joseph lowery. [applause]

[applause] >> thank you. we have not got all day. [laughter] of the to go hear a fellow speak named barack obama. [applause] i came today to do in the spirit of this structure that we are dedicating. to quote martin luther king jr. in his speech at oslo when they gave him the nobel peace prize -- one of the things he made clear was that while we have come a long way we still have a

long, long way to go. while the presence of this imposing structure forever reminds us of a long and perilous journey that the struggle has brought us through, it also points toward the future. in the words -- through many days of toil, we have already come with grace that brought us safe thus far and grace will lead us home. we recognize here that in the midst of the amazing truth that an african-american preacher who never held public political office is recognized here among the fathers of the country. indeed, he has become a father

of the country. [applause] for his leadership gave birth to a new america. this marvelous president is in peril by forces that come today to turn back the clock. there are forces in this country that wants to turn back the clock but we want to make sure they understand we have marched too far, prayed too hard, wept too bitterly, bled too profusely, and died too young to let anybody turn back the clock on our journey home. [applause] let me make sure that i make clear that we are looking for something that i want to read you what martin said when they gave him the nobel peace prize -- we can spread the word across

the whispering grass and tell the trees and the trees will tell the babbling brook and then everyone will know because they told the babbling brook. well, let me say here this is what martin said -- said"i accept this award today with an abiding faith in america and an audacious faith in the future of humankind. i refuse to accept that man's presence makes it morally incapable reaching up for the oughtness that forever confronts them. i refuse to accept the idea that man is mere flotsam and jetsam in life that surrounds every hour refused to accept the view. that man is so tragically bound to the life that it september i refuse the view that daybreak of

peace and brotherhood can never become a reality. i believe that even today's bombs and that burst still hope for a brighter tomorrow. i believe that wounded justice lying prostate on the blood flowing streets of our nation can be lifted from the dust of shame to rein among the children of man. i have the audacity to believe that people everywhere can have meal for their bodies, education for their minds, and dignity and equality and freedom for their spirits. i believe -- that what selfless man had torn down god-fearing man can build a. up. i believe that one day mankind will about before the altars of god and the crown is triumphant

over war and bloodshed and non- violent redemptive goodwill will proclaimed the land. we will give our tired feet new strength as we continue to stride toward the city of freedom. ." this is martins looked toward the future as he received the nobel peace prize. as we gather here in this small, we celebrate this structure in which corporate america has contributed to the well-being. we thank god for the past and we thank god for the present but we look forward to that. we look forward to that day when justice will roll down like water and righteousness like a mighty stream will pour down that day when all god's children can rise, shine, and give god

the glory. we look forward to that day. when blacks will not be asked to get back, when brown can stick around, when yellow will be mellow, when the red man can get a head man, when whites will be more right. [laughter] [applause] >> ladies and gentlemen, award winning american poet, writer,

commentator, a civil-rights activist, and educators ,nicky giovanni. the university distinguished professor at virginia tech and one of our nation's most widely read poets. [applause] >> in the spirit of martin, this is a sacred pole. poem blood has been spilled to sacramento it. that was a magical time. height of "silver away. here i come to save the day. i want the world to see what they did to my. no, no, no, i am not going to move. if we are wrong, than the constitution of the united

states is wrong. montgomery, birmingham, selma, four little girls, constant threats, constant harassment, constant fear f,clc, father knows best, leave it to be there, ed sullivan, how long? not long. th mr.oreau said to mr. emerson, are you going out to? this is a eulogy. this is a water. pos this is a thank-you to die and nash. this is a flag for james farmer. this is a doubt that i make it without you to elevator. this is for the red clay of georgia that yielded black and occurs, black men of vision, black men of hope. bent over cotton and sweet potatoes or pool tables and baseball diamonds playing for a chance to live free and breezy

and have enough money to take care of the folks below. this is why we can't wait. bett swirling mississippi when, the alabama time, the tennessee dust, the filing the clothes that women wash. we let the women know that we too must. overcome this is for fannie lou hamer, jo ann robinson, set to mcclure, daisy bates, all the women ba saidby, baby, baby i know you did not mean to lose your job i know you did not mean to lose the rent money, i know you did not me to hit me. i know the lord will make a way and i am leaning on the everlasting arms. how much pressure does the earth and exert on carbon to make a diamond to? how long does the soil push against the flesh, molding, molding, molding the bone -- the mons that become a cry. it is unbreakable, priceless,

incomparable. i made my about to the lord that i never would turn back. how much pressure does it send to the world to press against a part of a man who becomes the voice of his people? he should have had a tattoo freedom now or something like that. he said a braided his hair or carried a pool cue in a mahogany case and have that mechanism to laugh over skillet best fried chicken. this is a p sacred tooem. open your arms, turn p youralms up, feel the spirit of greatness and be redeemed [applause] . >> nikki giovanni, you should

see what is happening backstage. it is so fun. our morals are creditor a combination of public and private resources. -- our memorials are a combination of public and private resources. the chairman of the dedication and chief executive officer will be followed by tommy hilfiger, dedication co founder and cut designerr,od guillam, and chairman of the king memorial foundation. welcome and thank you, for a mr.ckerson. [applause] >> g,wen.

i am honored and humbled to be here today. at this truly momentous and historic event in front of the king family and such important guests. including my granddaughter emma. it is both a personal and professional honor for me to be here. as i look back on line life,two moments that i really remember it resonates with me -- the first is the john f. kennedy inauguration went to the embassy said ask not what your country can do for you but rather what your -- what you can do for your country. the mlk freedom march -- i have a dream that my four little children when they will live in a nation where they will be judged -- will not be judged by the color of skin but rather by the content of their character. qu twootes and these two

speeches at a profound effect on me and my life. is also a great honor for me to represent the general motors co. and a family of general motors. i am very proud that gm had a long and has a long, strong relationship that supports this item of as a memorial. it has been two decades in the making but today, dr. king takes his place in the pantheon of american heroes. it is a monument to one man's dream. it is a memorial to the people who sacrificed and risked everything up to and including their own lives so that generations to come with live together as equals. it does not mark an end.

our historical ambition of creating a more perfect union can, by definition, never end. as dr. king showed us, the power to create a more perfect union lies in each of us. un die, we can correct injustice. we can work for equality and we can work to improve and eliminate poverty in our country. we can do so with and all law and through the institutions that defined as a great. nation this tomorrow reminds us that not only can we make america better, it is our responsibility to make a better. on behalf of chevrolet and gmc and foundation and everyone at

gm, i congratulate and salute the king family come the mlk memorial foundation and all of america for ensuring the everlasting legacy of this trip. a great man -- of this truly great man. thanks [applause] you. >> please welcome dedication co- chairman and president designer and co-founder of the tommy hilfiger corporate foundation, tommy hilfiger. >> thank you very much a [applause] it is a special honor to join the king family, the martin luther king jr. foundation, and the many dignitaries as well as my fellow americans in celebrating the legacy of dr. king's. as i stand here today, i am reminded of what my father told me as a child, that there are two great men in this world m -- lk and jfk. at the time i understood this

statement was significant but did not understood. why as a grown man, a father, and a husband, i appreciate why and i appreciate the fact that these men were heroes because they held fast to their convictions. they chose the path cannot travel because they had a vision of a greater good. dr. king's message of equality inspired the mission for our corporate foundation when we started it over 50 years. ago little did we know that soon thereafter, we would have the opportunity to contribute to something as powerful as this memorial. for many of us as a company working on this project for over 10 years has had a profound impact. it has been a great honor and a great privilege and a responsibility as well to be committed and to be in it

wholeheartedly. it has united us in ways that we never expectant. what many of us find most inspiring is that this memorial will serve as a beautiful reminder for generations to come of dr. king's heroism. it is a lasting tribute to a man whose message must live on. on behalf of the corporate foundation and tommy hilfiger company, thank you for the opportunity and i think mr. -- and a thank mr.guy vggers led the company. thank you very much. [applause] >> ladies and gentlemen, please welcome the chairman of the memorial foundation, a board of directors r,od gillam. [applause] >> good morning. this is truly a day that the lord has made.

this is a day that we honor a man who dared to stretch our imagination. he showed us that we could do more, that we could become more, and that we are indeed more. he lifted up a race of people and reminded us each day that the future is ours to design, what we stand for, what we value. dr. king not only give us a vision but also showed us the way. a man, the movement, as to this nation to embrace the message of common sense embodied in three questions -- what color is character? what race is achievement? what nationality is talent? and we needed for get a very important fourth question -- what price is neglect? he asked us to replace a climate of hate with love, justice, and

peace, an elusive peace. the stars agenda as words of his assassination shook the nation. today, he watches from a very distinguished chair of. honor though there are certainly dark days that must cause a regular rhythms and a part of this drum major of change, there are also bright days of joint and hope that sends the message that his work on this earth was hurt, was appreciated, and continues to live in the hearts and deeds of millions and millions. on this momentous occasion, my friends, as we pay tribute to our beloved dr. king, on behalf of the board of directors who brought their passion, hearts and souls to ensure the establishment of this memorial in his honor, we thank you for your support in your

communities, in your synagogues, in your church is coming your temples, and always of schools to the great halls of congress from contributions of 05 cents to 5 million. these thoughts and prayers, we will thank-you. without you and what we have collectively done together, we would not be able to participate in this truly one of the greatest moments in our. history god bless you. [applause] >> ladies and gentlemen, please look and the chairman of the martin luther king jr. memorial foundation, gary calger. >> good morning. dan akerson, tommy hilfiger, and dan gillam revealed something very telling about the moral and that is that everyone involved

in this project had their own story to tell as they looked back at the construction of this tribute to dr. king's legacy. fraternity brothers, our sons, construction worker, corporations, government officials, ,, and everyday people played to their strengths and contributed what they could. so today we celebrate how these many came together as one to see a dream fulfilled. as co-chair of the foundation's executive leadership council, i had the distinct honor to work side-by-side with incredible men and women dedicated to building an alliance of influences, leaders, and philanthropists who drove a national campaign to construct this all inspiring memorial that will forever grace our national mall. the road we traveled while amassing this support was not

always easy. for the core of our executive leadership council, it was a road we traveled for 10 years. this dedicated team made countless phone calls, arranged count -- hundreds of meetings, hosted events, and green banners throughout our nation all to remind our nation about the legacy we honor today. it was a decorative tiles to bid that required each of us to draw on what inspired us. i can say for me that inspiration came from my years as a teenager when i witnessed dr. king courageously lead our world and our country to a much needed change. i would like to also take this opportunity to specifically thank ambassador andrew young for his extraordinary work on the council which made today, in

part, possible. [applause] thank you. i would also like to thank general motors and tommy hilfiger for serving as tremendous early examples of corporate and personal support for this noble cause. thank you all very much. [applause] >> the 1955 montgomery bus boycott was a seminal moment -- moment in the civil rights movement. here to pay tribute to that historic event with an original composition entitled "bus pass " are grammy award winning by last. the violinist. [applause] ♪

♪ ♪ ♪ ♪ [applause] ♪

♪ in all took the bus even if you, drove, or walked to the celebration got here by a bus. your gps may have guided do and your hair was condition but you still got here by bus. 55 years after the boycott, our feet are solved, perhaps manicured, definitely soil. >> we talk about the hardships now for it was a mutter of the king dedication or colder at barack's inauguration? >> we may have passed seven years of shoes this one weekend. ♪

to some of us a bus is lower than a subway. in 1955, that was our daily commute. the sister rosa did not have an ipod to block out the noise. >> rev. king did not tweet about monday's boycott plans. >> these crowds got there without the aid of a smart fun and there was more than an impromptu/mob trying to stop them. >> put that in your status update. >> they will be tougher by the time we finish marching today. >> you go home and tells the legend of today, tell your friends and family how you what a country mile and stood in line and did it with style because it was your duty to be here. ♪ that remind them the montgomery bus boycott lasted 381 such

days. ♪ >> while you're here, just for kicks, ride a bus. >> go ahead. sit anywhere you please. relax those feet. you know why? because you can. ♪ married mary -- ♪ mari ♪ ♪ mari.on,

♪ [applause] >> thank you, thank you. and now it is my great distinct pleasure to introduce to you two special and amazing women. screen and stage star legend cicely tyson and a rising young star, at the dawn of her career, amandela denberg, welcome. [applause]

>> this is the day that the lord has made in all are rejoicing and glad in it. [applause] every great dream begins with a dreamer. always remember you have within you strength, the patients, and the passion to reach for the stars in order to change this world. that quoote is from harriet tubman, a woman who really was the early champion of civil rights. the story of civil rights movement is the story of the women who at times discreetly always dedicated, and too often

with little recognition, stood up to tear down the barriers between fulfilling a dream and deferring it. this story of the women of the civil rights movement is a story of our mothers, our grandmothers, our widows and wives, our sisters and daughters who were powerful rattlers down dark lonely roads on the journey toward freedom and progress. they were pioneers. they were made, mothers, at least, at the present volunteers, and entertainers. they were incredible women such as harriet tubman and said turner truth -- soujourner truth.

women can and all colors. , from all walks of life, to stand with dr. king and other man of the civil rights movement to map out strategies of change. there were dorothy height, rose of parks, betty shabazz, caress scott king, and the countless unknown women who helped make all our lives more just and more equal. as we celebrate the dream and dedicate the memorial, let us remember a long line of phenomenal women who shaped the civil rights movement from this country's early days three today. let us remember to honor the women who came before us as well as so many, thank god, that are still here with us.

they were powerful women, a powerful role models for myself as well as for the next generation of not only women but you men, too. i have standing with me a young 12-year-old member of the next generation. [applause] her name is amandela which in zulu mains power. yes, indeed. so, i just have a word or two to say to amandela, that we are passing on to you the torch. you will be the next generation to pick up and carry on where i

and the rest of my generation leave off. god bless you and good luck to you. thank you. [applause] >> my knowledge of the civil rights movement is from what i have learned in school at what my parents have taught me. today, i want to honor four little girls of the civil rights movement. 11-year-old denise mcnair, 14- year-old addie mae colluins, carole robinson, 14, and cynthia wesley, 14. in 1963, there were killed at 16th street baptist church in birmingham, alabama when a bomb exploded while they were in

sunday school. i am 12 years old. those four little girls were my age. although they did not live long enough to be recognized as women of the civil rights movement, they should be part of that wonderful legacy because, as dr. king said at their funeral, they did not live long lives but they live a meaningful lives. i plan to live a meaningful life, too. [applause] thank you. >> it is now my pleasure to

introduce a group both women and men who, through their beliefs, have each brought change to the world -- sharing their thoughts on hope, democracy, justice, and love -- please welcome through blazing actress and singer diane carol, lee sonders, the rev. al sharpton, and children's defense fund factor -- founder marian wright edelman. [applause]

>> good afternoon. i cannot tell you how honored i am to have been asked to be with you today, celebrating in honor of dr. martin luther king. i am older than you think i am. [laughter] bless your heart. we try. standing here like a fool in high-heeled shoes at 77 years of age. [applause]

so, you see, i knew dr. king. and to talk about dr. martin luther king is to talk about hope. the first time i met him in the early 1960's, when i was about 12 -- [laughter] i was really struck by what a quiet man he was. always seemed quiet, but the first time i heard him speak, suddenly, it was is it if he was bringing up fire of hope over all of us -- it was as if he was bringing a fire of hope over all of us. we all needed, desperately, a man like dr. king to turn our hopes and dreams into action. he aroused in us a total

commitment to his dream, which drew 1/4 of a million of us here in 1963. in those days, i must confess that i was afraid to come to washington, because it was the south and it operated like the south. i was of little girl from new york, and not always scared the girl-- i was a littlte from new york and that always scared the hell out of me. i can remember good reason for it feeling that way. taking the train from new york to visit my grandmother in north carolina -- and it was here in our nation's capital that the conductor would ask me and my family to move to the "colored"

car. and i asked my mother why? what have i done? nothing, she replied. and dr. king said, nothing was not enough. we had to start doing something. and thanks to him, the hope he inspired, we did, and we are. i was introduced it to dr. king in brooklyn, one evening before we were to make an appearance on a radio program. he was very young and so was i.. -- i. because i was a young mother at the time, i felt old enough to ask him why a man with a family, with the white and children, was willing -- with a wife and children, willing to live as a hunted man.

even back in the 1960's, we all felt we would -- he would never lead to see his grandchildren. i will not forget, ever in my lifetime, the expression on his face when he explained that he had already put his house in order, that his wife and children chose to walk with him on this journey every step of the way. my grandmother from north carolina would be the first to remind us that even moses did not make it to the promised land. his god-given purpose was to show us the way. i say it was the same with dr. king, who showed us the way. [applause] and all his children and all his grandchildren are here to continue his journey together

every step of the way. i remember the day that we met because it was a little talk show, in the back of a nightclub in brooklyn. i thought, "why is he here? i do not understand. this is really not a very important talk-show." but he went almost every night wherever he could speak his word. and i will love him until the day i die. his memory is something that continues, at this ton in in life -- this time in my life, to give me the strength and the courage to move on, to not stop. i do not want to be satisfied with the little television show that i did, and i was a star, but i was pleased to be there. now i am no longer please.

we have to own the damn station. [applause] thank you. >> ladies and gentlemen, please welcome the secretary treasurer of the american federation of state, county, and municipal employees, lee sonders. >> sisters and brothers, democracy grants each of us a seat at the table of politics and civic life. the force that should level the playing field, the promise that our voices cannot be drowned out by the powerful or the wealthy or the well-connected. i am proud to represent the 1.6 million members of my union, afscme, workers to strengthen our democracy by virtue of the jobs they perform every day in every single community across this country. in 1968, dr. king took his

struggle for full democracy to memphis, tennessee, on behalf of 1300 sanitation workers, afscme mmembers -- members. the workers were demanding respect, fairness, demanding to be heard. the fight in memphis became dr. king's last. he went because he understood the connection between workers' rights and civil rights. those striking sanitation workers were not simply fighting for better pay and safer working conditions. they were asserting a claim on our democracy. but today's attacks on workers rights and voters rights tell us the fight for democracy is not over. victories that for decades in the making could be undone with the government -- a governor's signature, legislative vote, or, yes, our own apathy.

it could make it more difficult for millions of us to pass the vote. they denigrate the democratic principles on which we stand. but we cannot, we cannot be discouraged. too much remains to be done. dr. king issued a clarion call, a call for equality, a call to make democracy reality for all of god's children, because we're standing on his legacy, we must continue his fight for the riches of freedom and security of justice. you know, there was a pastor in germany, an anti-nazi activist, who once said, first they came for this socialists and i did not speak out, because i was not a socialist.

then they came for the trade unionists, and i did not speak our of because i was i not -- out because i was not a trade unionist. then they came for the jews and i did not speak out because i was not a jew. then tehy ca -- they came for me and there was no one left to speak. sisters and brothers, we must always speak out. we must let our voices be heard loud and clear. we are not resting. we are not resting in the shadow of the king memorial. we are marching on! we're marching on till victory is won! together, let's restore democracy. let's restore the american dream! [applause]

>> ladies and gentlemen, please welcome their rev. al sharpton -- the reverend al sharpton. [applause] >> thank you. we're here today to dedicate this memorial, but let us not be confused -- this is not a monument of those times past. this is not a memorial to someone who has passed into history and that is dead. this is a marker for the fight for justice today and a projection for the fight for justice in the future, because we will not stop until we get the equal justice dr. king fought for. dr. king was not just a historic figure. he was a conduit of the spirit

of justice. justice had been denied in those times. he brought us from the back of the boss. he brought us to voting rights. but we must continue to fight for justice today. justice is not trying to change the voting rights act and deny us in 34 states our right to vote. justice is not executing people on recanted testimony. justice is not sending children to school that are not -- schools that are not funded. justice is not 1 percent of the country controlling 40% of the wealth. just like dr. king talked about occupying washington, just as those who are occupying wall street, we're going to occupy and take those in that stand up for justice and retire those

that stand in the way. [applause] we are here to say that you're going to continue marching in the spirit -- we are going to continue marching in the spirit of dr. king. we marched through the streets yesterday. we gave one message. you will not undo the king during duty will not take away the voting rights act. you will not -- you will not undo the king -- you will not take away the voting rights act. you want us to balance the budgets on what is our entitled programs. you want to mess with the social security of our seniors. that's why, when we up to vote, do not make this a partisan. when you mess with social security, this is not obama 0--

about obama, this is about our mama! it are going to vote like we have never voted before -- we are going to vote like we have never voted. when we come to the stone of hope, let them come from all over the world to this stone of hope. were you fight in europe, in the middle east, africa, come here to the king monument and see the stone of hope. and when you walk through, you will see a man standing because we have hope and faith, faith that fed us when we were hungry,fai faith that clothed us when we were nekkid, faith that

brought us to the white house from the eric karros. -- the outhouse. we come here a trusting in the lord alone, his holy way. he never, he never, he never failed us yet! [applause] >> ladies and gentlemen, please welcome marian wright edelman. [applause] >> we honor dr. king today in granite, but what's important is that we honor him tomorrow and every day, for as long as it takes, in transformed values, voices for justice, unrelenting nonviolent action to rescue his dream and america's managing dreams from the clutches --

vanishing dreams from the clutches of militarism, racism, and poverty that he warned would undo america. in his last sunday sermon at washington's national cathedral, dr. king retold the parable of the rich man who ignored the poor man, lazarus, who came every day sicking crumbs from the table. the richman went to -- rich man went to hell, not because he was rich, but because he did not realize is wealth was his opportunity to bridge the gulf separating him from his brother and allowed lazarus to become invisible. he warned this could happen in america. if we do not use her vast resources to end party and -- poverty and make it possible for

all of god's children to have the basic necessities of life. when he called for the poor people's campaign in 1968, we had about 25 million poor people, including 11 million children. today, we have 46.2 million poor people, including 16.4 million poor children, who are the poorest age group. where is your voice to say, stop children falling into poverty? why have we normalized and let our leaders normalize child poverty and homelessness and hunger in america? stand up and speak up for your children and their future. honor dr. king by committed action to end job poverty. i have no doubt he would be calling for another poor people's campaign for jobs and income today, and we need to close the obscene gulf between

rich and poor been in our country, where the 400 highest- income earners made as much as the combined tax revenues of 22 states. they do not need a tax cut. speak up and make sure they do not take more from poor children. i will just tell you, do not as think we cannot move all of this progress -- losdo not think we cannot lose all of this progress. if we do not break the cradle- to-prison pipeline, we will have a new apartheid in america. speak up and rest your children from the prison-industrial complex. -- rescue your children from the prison-industrial complex. the day after dr. king was shot, i went into a washington d.c. neighborhood, urging children not to move. at 12-year-old black boy looked at me straight in the eye and

said, lady, what future? i ain't got no future. i ain't got nothing to lose. it is time for the black community, for all of us, to prove that boyd's truth wrong -- boy's truth wrong. and to honor the sacrifice of this great prophet of god, who died to help redeem the soul of america. dr. king is not coming back. we are in it. -- we are it. he told us what to do. let's honor him by doing it. god bless. [applause]

♪ >> ♪ mine eyes have seen the glory of the coming of the lord he is trampling out the vintage where the grapes of wrath are stored he hath loosed the fateful

lightning of his terrible, swift s word his truth is marching on >> ♪ in the beauty of the lilies christ was born across the sea with a glory in his bosom that transfigures you and me as he died to make men holy

let us live to make men free while god is marching on hallelujah!glory, glory, glory, hallelujah! glory, glory, hallelujah! his truth is marching on

oh, glory, glory, hallelujah! oh, glory, glory, hallelujah! oh, glory, glory, hallelujah! his truth is marching on! whoa, glory, glory, hallelujah! whoa, glory, glory, hallelujah!

whoa, glory, glory, hallelujah! his truth is marching on! glory, glory, hallelujah! glory, glory, hallelujah! glory, glory, hallelujah! his truth is marching on!

yeah, yeah, yeah, his truth is marching on! it's beautiful it's beautiful his truth is marching on! it's marching his truth is marching on! ♪♪ [applause]

it is with a group of our fraternity brothers. it was led by a group of president's you are here.

i would ask that the president will stand and be recognized and all brothers. would you please stand for just a moment of that you might be recognized and so that we can think the world for their support of this great monument. thank you. a you may be seated spiri. they joined with communities across the country and other hard working people on a common goal, to build a memorial celebrating our brother and did the world several right icon and the ideas he upheld. when secretary salazar assigned a permit allowing construction of the memorial to begin now could 2009, we knew that our long-held vision would be realized. thank you to all of you who have helped us to arrive here today. thank you mr. president.

thank you, mr. salazar. it is my honor, my privilege, and my pleasure to introduce to you the honorable ken salazar, a secretary of the interior. [applause] thank you. been morning to all of you. on behalf of president obama and the department of interior, i am humbled and honored to celebrate with you the birth of dr. martin luther king jr. memorial as the nation's 3 engine 95th national park. -- 395th national park. we have seen and understood the legacy of dr. king. we are all one people and have a duty to stand up for equality and justice for all.

today the department of interior and the national park service have the honor of serving as lead the custodians of americans history. we have a duty to make sure that all of the story is told and not just a part of it. with the dedication, we are honoring a critical chapter on the march of civil rights in the struggle to create a more perfect union. dr. king and pushed this for all people into the consciousness of america and the world. millions of disenfranchise the americans found new hope, dignity, an opportunity to share in blessings of our nation. i stand before you today as a distinguished audience. leaders of the civil rights movement, members of the family and congress and colleagues on

the cabinet, i know we are all indebted to dr. king and those who spearheaded the civil rights movement before us. they gave my generation the opportunity they have been denied generations before them. we are aware that dr. king's dream of equality and dignity for all people continues to include us. discrimination is still present a ground our country.

it has been chairman teasley effective where we have seen a steady decline in the access of

these banks and the financial sector. before and after the line drops straight down. we have continued to go around the world. i was in china a couple of weeks ago meeting in hong kong with major banks, including major chinese banks in beijing and meeting with chinese officials to continue the conversation about this and make the points we have been making. it has been remarkably effective. we will continue to pursue this issue. a rule will help us. it became effective earlier this week. we issued a series of information requests to u.s.

financial institutions, asking about the behavior of some of their correspondence. this follows up on a question that was raised. it allows us to go out to u.s. financial institutions where we have reason to believe there may be potential violations. there is a low threshold where we have reason to believe that there may be this issue and seek this information. this will complement other sources of information that we have. we will continue to pursue those investigations. >> thanks. secretary david cohen, tellus who was doing business with i

ran? >> they sell their oil to a number of different jurisdictions around do world. to the european union. spain is a major purchaser. turkey. >> japan? >> japan. >> who are the largest? >> i do not know where my cheat sheet is. japan, china, -- they are large purchasers.

none of them are solely dependent on iran. that all purchase oil from a variety of producers. but it is between seven and 15% of their oil, give or take from iran in a given year. >> of the chinese investing in exploration directly or indirectly? >> i will give you an answer but i think secretary sherman also has an answer on that. the basic dynamics that we see in china is that before the most recent round of sanctions, including the security council resolution in 1929, china was involved in exploration in the

oilfields of iran. we have made it very clear that we expect restraint, not just the united states, but the international community as a whole. the response has been that china has exercised restraint. that has been the basic dynamic. >> we share your concern, senator. president obama has raised this personally with president hu. vice-president by dint and secretary clinton both have raised the issue on their -- joe biden and secretary clinton both have raised the issue on their trips.

we know sometimes china looks for opportunities when others leave the field. we recently have seen reports that it has had an effect. it is our belief from what we know that exact chinese companies have not finalized any new upstream investment over projects since the enactment. we will continue to monitor this as closely as we can in as many ways we can, because we agree with you because there is concern in this regard. one thing about the chinese is they have been much more closely matched up with us, the european union and even russia in this

regard. understanding the increased threat that iran places. there was a joint statement regarding the full implementation of all u.s. sanctions. we share your concerns and are staying on top of this at the very highest level. we think there has been a slowdown. there have not been new refinery prospects. we will not stop our vigilance nor our pressure in this part. >> many have followed this for a long time. china and russia are pushing the sanctions regime. explain to the committee russia's relationship with iran

as best you can hear in an open forum. our ideal fight to bring along the real sensualist's -- sanctions against iran and the challenges. >> let me focus on the russian iranian financial relationship. we can talk more broadly about russia's role and the security council and bilateral relations. the reality is that russia does not have a particularly deep or extensive relationship with iranian financial institutions. we do not see russia providing a significant access point for a iranian financial institutions. iran is under increasing

pressure. it has never faced this type of isolation. many channels are narrow. we are watching all to see where they try to go to develop financial connections. russia is a potential point for them to look. we will stay on top of that very aggressively. as we sit here today, i cannot say that russia is a significant problem regarding the financial access of iran. >> they are not a significant problem overall politically in this area? >> i am focusing on the

financial relationship. >> you are tiptoeing around the political ramifications. >> i am afraid -- mindful -- secretary sherman has the response ability for asking that issue. >> secretary sherman, why has the state department declined to designate the islamic guard regarding this terrorist organization? >> we have considerable sanctions on the revolutionary guard. there has been designation for their part in human rights abuses, which arkwright egregious. the designations are used for non state actors. i cannot think of any state actor for which a designation has been used. >> it does not mean it should not be used.

>> i appreciate that. as we go forward and rationed up the pressure will consider any option that we have to deal with their ambitions and terrorist activity. if you look at the full array of the sanctions that we have in place, they are quite prominent in many of them. we have already cut off some of their economic wherewithal both financially and in terms of some of the companies they operate, since they are becoming a greater economic force in iran. >> are you designating them as a terrorist organization? >> i do not speak to specific designation until they occur. we have never used the option

fto. we are not looking away. we have the toughest sanctions of any administration on iran. >> thanks. i will ask the secretary to work with me in helping the chairman to be a little more lenient. in terms of the conciseness of your answer, there is a lot of ground want to cover. . is it fair to say that the sanctions have worked to diminished radically commercial and banking transactions for iran and has hurt them significantly financial? >> yes.

>> that is the first point i want to drive, that sanctions work. we have none seen anyone say, please give me a sanctions law. they want flexibility. i hope my colleagues will consider the legislation we have been advocating a and know the administration has appealed to give them the law. given that regard, i listen to your statement very carefully. when you say american policy regarding iran remain as an unambiguous, -- remains an ambiguous -- we must do everything we can to ensure that

one of the greatest global concerns we have does not take place regarding them obtaining nuclear power. [unintelligible] some products have been shipped monthly for about a year to iran. why has not the administration been reluctant to sanction this type of a chinese company for energy violations, when there is evidence that they are violating our laws and there is a preference for as sanctioning them? that is my first question. my second question is in response to senator shelby, you

talk a lot about the energy sector in i ran and investing in their energy sector. selling refined petroleum products is also a violation. buying crude oil is not a prohibited activity. it goes to my second question. the united states has passed all of these sanctions to put pressure on investments in the energy sector which has reduced the oil and natural gas production in iran. the regime sells 2.3 million barrels a day of crude oil, which generates over $80 billion annually for the iranian treasury. the sale of iranian crude represents 65% of the iranian regime's budget. you -- fuelling their ability to export terrorism, build nuclear weapons program. it is clear to me that this is

one of the greatest global concerns we face. it is clear that we must find a way to deal with the iranian regime. one loophole in our law permits i ran to sell it to europe where it is refined and sold to the united states. it is possible and legal for u.s. to have this oil derived from iranian crude oil. they are putting iranian gasoline in their vehicles. i have worked with industry experts to close this loophole to ensure that the united states is an irony in oil free zone. the six -- the solution is simple. they would have to replace their

purposes of crude with supplies from elsewhere. it would be direct sales of crude to other buyers. there would be able to negotiate discounts from the sale of every barrel of oil. it would generate billions of dollars in hard currency. can you tell me whether you are open to closing this loophole, establishing the united states as a iranian oil free zone and ending the practice of americans buying gasoline from iran and in doing so, pain and -- an iranian regime which commit violence against americans and our allies and troops and what you yourself has said is our greatest global concern? >> thanks, senator. first regarding your question about the chinese entity.

the administration is not reluctant to sanction and to designate companies when we have gone through the data, the investigation, meet the evidenciary standards and the sanctions. under inksa, we have designated guidelines on the industry of china. it is not about never designating or sanctioning a chinese entity from any country. it is a matter of doing a thorough investigation, making sure we have met the evidential very standards. the country in which you spoke, we have listed all of the data in coming and look through everything that is in front of us to decide all law lines of

the standards that have been set up by law to meet the standards of the law. there is assurance that we look at each one of these situations with care. we agree with you that nothing should be off-limits. every situation that meets the standard should be designated as sanctions. >> a year later, public reports of this company selling refined petroleum products within the definition and the listed activity, we have not sanctioned them. how long do we have to wait before that happens? >> i hear your concern and will take it back with me. regarding your legislation and buying crude oil, i understand your concern. this is one where i am sure the

secretary will have much to add on it. you have raised issues that have been the concern of some, but does not mean we should take a close look at what you are suggesting. iran is the fourth largest producer of crude oil. we have a targeted and barker -- embargo. i will let the secretary take up the financial implications and the world's global implications brought by this. i appreciate your desire to close the loophole. we look forward to seeing if we can find the way forward. >> i thank the chairman for his leniency. i am not suggesting an oil and barker -- embargo on iran. i am saying we should not permit

refined products made from i reigning crude to come to the united states. there is a fundamental big difference. i do not want to get that confused. >> of that proposal to create the have iranian oil free zone and in particular to implement that by having european refineries that they want to sell in united states that they are not using iranian crude is something that we have seen -- we are looking at that proposal. the economics you describe are complicated one of the things we share is the desire to reduce the revenue that iran on its

sale of crude without causing collateral ill effects to the u.s. or global economy. one of the attractive features of this proposal is it promises to do that, to reduce their ability to earn revenue without having the knock on effect by increasing the price of refined petroleum. we are looking at that. we have economists that are smarter than i am on this sort of thing. i look forward to working with you on this proposal. it holds promise to achieve that objective. >> thank you. >> on i allowed some leniency in time, because he has some

legislation pending. i urge you to [unintelligible] >> welcome. i know you are very new to this. i will mainly direct my comments to david cohen who has been in this much longer. it is very important to hear not your concerns but your consequences for what has happened. it is very important for us not to look at this from the washington view of teheran, in which one of your staffers gives a long report on how we cut off certain things from one area to

the next. it is important to look at what is happening in tehran and what is happening. put up the other chart. this is i rain and enrichment activities. the program is accelerating fairly impressive league. while we have long briefings of bank activities the principal objective of the policy is not yielding every result. once we get over the 20% enrichment, we are on our way to a bomb. i would be worried if you felt there would be any doubt that the iranians would transfer more to terrorist organizations once they had them. that is a fundamental assumption on our policy.

and when we look at pteron and compare statistics with u.s. economic growth to iranian economic growth, the economy grew by two point five% last year and the iranian economy grew by three point zero%. or more. -- three point zero%. iranian economic growth -- it has expanded by four *. when you look at debt held by the public, and some people say we should not believe the imf, but almost every other administrative decision is based on ims data, the united states has 70% of its gdp in debt to the public, where iran has five

point four%. the economy continues to recover half, however there was a significant growth slowdown in 2011. growth recovered on the strength of international oil prices and a strong rebound in culture and rapid credit expansion, inflation was contained. this is the imf. i am worried that the iranians seem to be accelerating in their aggression toward you. in the week that one was conducted -- convicted with 90 lashes, we have learned that s their kids have been kicked out of universities

and their houses have been registered. this is similar to a movie we have seen in a different decade wearing different uniforms. now we hear from secretary cohen that we remain concerned that the central bank of iran maybe facilitating transactions with the iranian banks. 92 senators wrote to you saying that us take action. on top of that, you have not designated this under the law as you should have. i very much respect the work you have done, but press reports indicate that you have known about this plot since in june. you have known about this hearing for a month. we have no significant action on designating the irgc or the

central bank of iran. you have known about this plot for five months. >> let me pick up with the last point -- and we have designated a number of irgc affiliate's and individuals. >> you have not designated the president of iran s.a. and a step -- and -- a systemic abuser of a civil rights. there are dozens of people, no strong back born -- backbone on anything, yet they are way ahead of you.

>> we expected a plot. when the united states became aware of its -- i am not going to comment on that and what we were doing when we learned about the plot. as you know, we did not respond the same day regarding the complaint and the designation of individuals associated with the plot. >> you cannot get closer to him than that. >> he is a very senior official, no question about it. he was designated on tuesday for his involvement in terrorist activity. he had been previously designated twice before, once

about two months ago for providing material support to syria. they allowed us to designate individuals involved in human rights violations in syria or provide support for individuals. 92 -- >> 92 senators writing you, is it possible in response to a plot to kill 100 americans to not say anyone who does business with the central bank of iran cannot do business with the united states. look at the economic growth and acceleration of the nuclear program, can you get moving? >> we are moving. we are looking at the

possibility of designating the central bank of iran and taking other actions with response to this and response to their continued defiance of the national community. there is a lot of work on the way. we are looking quite intensively on how to ration up the pressure. i would like to address the gdp growth. it is quite difficult to compare i iranian gdp growth with u.s. gdp growth. the iranian economy is about $80 -- iran is five%n

of the united states. it has a disproportionate effect on the gdp growth in iran. >> iranian gdp was $338 billion in 2008 and three after $57 billion -- about five% growth between that time. >> it suggests that gdp growth for other countries in the middle east that are oil producers. looking at just the countries in the middle east, iran is the lowest of all of those countries in projected gdp growth. if it is less than half of the average of other middle eastern

oil exporting countries. that is the comparison. others are dependent on the exportation of oil for gdp. i ran is doing quite badly compared to us here. that is part of the effect of this of sanctions. >> thinks mr. chairman and thinks to the panelists for your testimony today. i want to pick up on the questioning. this week we learned that there was a plot to assassinate the saudi ambassador on american soil and 100-150 americans were killed as a result of it and that was ok. the question i have sitting here, i am wondering what the

testimony had -- would be had the plot succeeded. i am glad our law enforcement did not fail, what would your testimony be about what our response would be. for months, years, this committee has been saying we need to do everything we can to make sure iran does not support terrorist organizations and they never develop nuclear weapon. what if this project succeeded? what with the implication be for the organization? what more can we ask for the rest of the world to protect the united states and our allies from iran. >> without knowing it, i stole

your talking point. in my telephone conversations with counterparts around the world, and i said, think about what the country needs to do and what you would have done and what the international community would have done if this had been successful. it would've been catastrophic in so many ways that i cannot begin to imagine. i agree with you about the seriousness of what occurred here. i agreed that our law enforcement officials do a superb job. the government of mexico cooperated very closely in a really excellent law enforcement effort between our two countries.

it is quite important going forward. i agree with you. why we are saying to those that have hesitated in enforcing the sanctions on the table. there are many tools on the table. all countries have to do is pick them up and make them real. that is our effort, that we show by example that one can move speedily to designate. we are encouraging every country to do likewise to look at those designations and see if they are appropriate and under the multilateral sanctions from the you in. we need to do everything we can to follow through on those enforcement acts to get into -- additional sanctions and opportunities, which david and i have discussed this morning,

including legislation suggested by members of this committee, all of which is on the table. >> secretary sherman put it the right way. it was attended to assassinate the saudi ambassador here. if others were killed in the execution of the plot, they could force -- the right response to this is to look at this plot as further confirmation of what we already know. it is a very significant component of the iranian government. it could be involved in the exportation of terrorist

activity around the world. they are active in the region. they have crossed a red line as the secretary of state said. we have known that this is a terrorist organization and we have acted against it with that knowledge in the past. >> it would seem to me that there is no need for any other evidence than what we saw this week to inspire those that have hesitated from joining s in the work that you are trying to do, getting off of the fence to make sure an action like this cannot be carried out. i hope you are doing everything you can do and we will do everything we can do to push the

international community in the direction it needs to move. >> thank-you. and i wish we had more time to ask another -- a lot more questions on a different level. it is interesting, the work you are doing. if you look at american previous responses to things like this. they were willing to do something here in our country that likely would have created a war. that has been our response to these kinds of things in the past. if you take a to be to see, it is evident that the iranian government was willing to conduct an act of terrorism on our soil, knowing the history of the way americans have responded to that, they were willing to provoke a war, which i think

this most recent incident points out. i know all of this is hard work. i appreciate what you have been able to accomplish as far as the effects on the banking system. let me ask this question. i ran is on a trajectory as far as regiment. we know that where they are today, and i do not know how much of this is classified. where they are today very quickly they could get to a point where they have bomb grade material. as i listen to you, all of these things that you are doing have the effect of creating various activities. what i would like to ask is the trajectory that we are on, a trajectory that will alter the behavior prior to the time to be able to produce a bomb.

economic growth compared to other countries is nice, but it is not our point. the point is to produce -- prevent them from producing a bomb. can you tell us if we are on a trajectory that will keep this from happening? >> i do not know the answer to that question. we are doing everything we can to persuade the iranians, as one secretary described in her testimony, to engage seriously with the international community before we get to that point that you described. what we are doing on our part

and as part of a broader government effort is to develop the pressure on i ran to try to induce them as soon as possible to engage. that means continuing to take the steps we have taken to isolate iranian financial institutions from the international financial sector from institutions involved in their proliferation activities. it serves a purpose. it builds the overall pressure on iran in service of the desire to have them engaged. it impedes iranian abilities to develop its nuclear program. >> we went into great depth yesterday and all of this was shared. what we never got to was whether

we are on a trajectory and whether it will be the appropriate trajectory. i want your judgment as to whether our trajectory is deep enough. >> what i can say is that we remain persuaded that this is the right course. that by applying pressure -- pressure across the board, it can be the effective approach. i do not have a crystal ball. >> we thank you and welcome you. let me close with this question. let me reiterate the question. legislation has been developed that gives you additional tools. they are saying, please to not give us these additional tools.

we want to make sure we have done everything we can to enhance your ability. we connect with the state department. i think you are saying all of us want to help you to get on a steeper trajectory. you say, you do not want the help we are trying to provide? >> i would not say that. i do not think these in administrations feel that way. the tools that have been provided have been enormously effective. we are making good use of them. as the senator described it earlier, legislation to affect it, we would welcome it. the question is as always, will this enhance our ability to pursue the objectives we are pursuing?

we are working to affect the overall e factions of the res team. >> thank you for your efforts. >> i want to go to the statements of these and we thank you all for your work. there is a difficult job here. thank you for what you do. we heard about investments in oil fields from foreign companies. there is talk about making sure that whatever sanctions are out there are real. i want to talk closer to home and tell me if i have good or bad information. recently, i hurled one of america's largest companies saying we are in the business of pooling this development in

iran. anytime you can manipulate loopholes and get them to do this, there are concerns. the second one is i am concerned that american companies will look to exploit loopholes we do not want to see that happen. the real question is with some companies, you cannot affect the sense of patriotism. should we be allowing subsidiaries of american companies to do business in iran or should we be putting the screws to these companies. it is one thing for a chinese company to be doing it. it is unacceptable for americans

to do it. can i get your comments on that? >> i think i saw the same article that you saw. i will not speak specifically about the issues. i will look at the subsidiaries. it is a violation of u.s. law for a u.s. company to do business in iran through a subsidiary. the u.s. parent is acting through the subsidiary and that violates u.s. law. if it is acting dependably of it, it does not reach the subsidiary with the exception of, and you can elaborate on this with the read-exportation of controlled items.

and the balance that has been struck in the law thus far is to redirect our law where they do. subsidiaries are foreign persons. the basic theory is we will look at what u.s. companies do. but if the foreign person acts independently -- i think there is for a subsidiary of a u.s. company, i think it is fair to look at that very carefully. >> should we require american companies to disclose to their investors their subsidiaries and what kind of business there and to? >> it is an interesting idea.

we are working on other ideas on how to more effectively limit what subsidiaries can do and the benefits to their parents. there are ways to go about this without crossing the line and saying we will regulate a foreign person. we are able to focus on the u.s. parents that will have an effect on know whether a foreign subsidiary is willing to do business with iran. >> would you like to comment on the point of american company subsidiaries and if there is anything we can or should do. from a commerce perspective? >> i would differ on the overall policy issue. i will say that there is an