what it would be like to stand on the auction block, and also looking at shaquille o'neal's shoes. [laughter] and chuck berry's red x. -- x -- cadillac. my hope is that this complicated, difficult, sometimes harrowing -- i believe, ultimately, triumphant story will help us talk to each other. more important, listen to each other. even more important, see each

other. and recognize the common humanity that makes america what it is. [applause] that is a lot of weight to put on one institution. but michelle and i have taken -- michelle's mom and our daughters to see it, we feel confident that it will not just meet expectations, but far exceed them. it would not have happened without all of you. you should be very proud. congratulations. god bless you. [applause]

[cheers] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2016] >> now, a press preview of the smithsonian national museum of african american history and culture. we will hear remarks by founder, lonnie bunch of the smithsonian. this is about 25 minutes.

[applause] >> good morning and welcome. what a crowd. we are delighted to have you here and i have good reason to believe that when you spend some time here, you will say that you have been delighted to be in the sacred place. you probably thought we brought you here to work. i wanted to drop that thought right now. we did not bring you here to work, we brought you here to be moved. and to show you the things that will move your readers and listeners to be similarly moved. good morning, again. i'm from the office of public affairs and delighted to have worked with so many of you for so many years.

i see so many familiar faces of people who have been with us since day one, even before day one. we had a construction -- before we had nearly 40,000 collection items. you have been with us on a magnificent journey and we appreciate your company. our journey has been made much smoother because of a leader, secretary of the smithsonian institution. a man with extraordinary gifts. we have come to not just admire but to count on his wisdom, vision, passion, compassion and it doesn't hurt that this man has a wicked sense of humor and he plays a mean jazz flute and saxophone. please welcome, the 13th

secretary of the smithsonian institution, dr. to david j scorching -- dr. david j scorten. [applause] >> it is a pleasure to welcome so many journalists and writers and producers and photographers today. 10 days from this day, when this extraordinary museum is dedicated by president obama, our country will have the opportunity to gain a fuller understanding of what it means to be an american. this museum explores our national identity through particular lens reflecting the life expenses over time of african-americans. their stories illustrated through artifacts and works of art. determination, innovation and

leadership, comprising eloquent and powerful narrative central to our national identity. the idea to establish an institution devoted to african-american history was first suggested by black civil war veterans a century ago. later, herbert hoover proposed a building memorializing african-american contributions to history and science. it had to await the 21st century before plants started to actually take shape. in 2003, congress passed legislation to make the museum a reality as part of the smithsonian family. we are grateful to president obama and to congress for providing ongoing support and establishing the museum's counsel which has offered guidance and encouragement over the months and years it took to get to this day.

this landmark comes at a significant time in history for the smithsonian and for our country. it will enable us to advance the democratic mandate to increase and diffuse knowledge and more eloquent and far-reaching ways within our founding benefactor could ever have imagined. the smithsonian is a uniquely american institution comprising 19 museums, established at key points in our 170 year history. the inauguration of our newest museum occurs as race and cultural differences dominate the national discourse. this museum can be an ideal gathering place to learn, hold conversations, be inspired and be uplifted. the missoni and can and should

-- smithsonian can and should provide a forum for discussions relative to the mission. especially when these can shine a light on the history and culture of the public we serve. this is true of the national museum of african american history and culture and it is true of all of the other museums, research centers and education initiatives. museums in the 21st century are dynamic learning experiences that use the power of art and artifacts to evoke feeling, teach and energize people. at a time of great cynicism and distrust of so many establishments, of the press, and even of government, libraries and museums remain among the most trusted sources of information in our country. frequently, i visited our museums on my own without my id badge as another visitor to the

exhibits. you could actually see people appear to change, especially young people, as the explore in exhibition. museums have the capacity to touch lives and transform the way people see the world and interact with each other. the museum of the smithsonian are all working to assure the treasures we care for in thought-provoking and engaging ways. the newest member of our family, the national museum of african american history and culture is setting the bar even harder -- higher for the visitor experience. opening now at a time when social and political discourse remind us that racism is not a thing of the past, this museum can and will advance the public conversation. it was in 1863 point frederick douglass said the relation

between white and colored people is the great imperative and question for this age and nation to solve. a center and a half later, it is high time to honor the words of this statesman who began life as a slave. as its mission states, our nation's newest landmark was created to be a beacon that reminds of us what we were, what challenges we still face in point us towards what we can become. from its extraordinary design, representing openness, strength and hope, to its collection, the building stands at the crossroads of the past and the future. virtually all the objects housed

within it were donated by people eager to share parts of their history with the public. it is the only one of our buildings, including the castle, constructed without a pre-existing collection. as you will soon see, the object contained within these walls are as diverse as the people associated with them. some come up like the glass top coffin will make you angry or may move you to tears. others, like chuck berry's cadillac may lift your spirits. these artifacts and these documents represent a country that is complicated and ever evolving. the many people who gave these objects emerged through them as did the artists created the paintings and sculptures and

other works on display. it is they who made this museum a reality. on behalf of the smithsonian and public, are deeply honored for them. as soon as the vision for the museum started to take shape, the enormous cost of the project became apparent. have of the funding required was up -- provided their federal operation. the remainder into to be raised from private sources. from the outset come the outpouring of financial support has been generous and moving. organizations of all kinds have joined in the efforts from major corporations and foundations to church groups and scout troops. the number of individual supporters is especially astonishing. there are people who wrote checks for millions of dollars and those who contributed at whatever they could. from a dollar of. today, more than 100,000 people have him aboard as members.

this is a record. we are deeply grateful to each of them and all those who recognize the importance of this museum and its role in the life of the country. in 2005, work on this project seriously got underway with the appointment of a director, lonnie bunch. lonnie bunch is an esteemed educator and scholar. he must have known the challenges ahead of creating a museum from stem to stern but he did not blink. in just 11 years, he led efforts to imagine, design and construct this awe-inspiring building. the interpretive plan for the building and led the campaign to fund it. perhaps the most challenging

task in my view that he oversaw was creating the collection itself. an initiative that required a national awareness effort, considerable travel and research and along the way, he put together an incredible staff. a group of talented, bold, smart museum professionals who you will get to know beginning today. it is my honor to introduce the person who did more than any other to make the national museum of african american history and culture a reality, it's founding director, lonnie bunch. [applause] >> this is the first time i've seen people in here. this is pretty cool. david, thank you so much for your leadership and kind words. there is no way this would happen without the kind of leadership that you and richard carrin have given us to make sure that we know that the smithsonian was with us every

step of the way. thank you so much. it is hard for me to remember, but 11 years ago, we really did start with a staff of two. no collections at all. we had no idea exactly where the site of the museum would be. we knew we had to raise a lot of money. we did not know where we're going to get to. all we knew is that we had addition. -- a vision. wanted to help all who encountered the museum to recover. to remember the rich history of the african-american. to tell the unvarnished truth. we felt it was crucial to craft a museum that would help america remember and confront its tortured racial past. but we also thought well america should ponder the pain of

slavery and segregation, it also had to find the joy, hope and resilience, the spirituality that was endemic in this community. the goal was to find the tension between moments of tears in moments of great joy. we also knew that remembering was not enough. we needed to craft a museum that would use the history and culture of the african-american community as a lens to better understand what it meant to be american. the goal is to help all, regardless of race and ethnicity, to help all realize how profoundly affected we are as americans by the african-american experience. in many ways, we discovered that the african-american experience is the quintessential american experiment. it is the experience that helped us understand our notions of optimism, liberty, citizenship.

we realize this is a story for us all. not just one committee. we also knew that we were standing on the shoulders of other usernames, large and -- museums, large and small who have done so much of the work that allowed us to make this vision real. we felt it was crucial that we had to be a place of collaboration. that we had to encourage visitors to come to washington and then go back and explore how culture is export at this to be museum of harlem or this california african-american museum or the museum in chicago. it was crucial that we were part of the national network of museums that cared about the past. i have to tell you, i'm so pleased to welcome you here today because this museum on the national mall, america's front

yard, this museum tries to fulfill the dreams of so many generations who believe that america would be made better if it understood, if they grappled with, if it immersed itself in the african-american areas. -- experience. i'm so pleased to welcome you to this building created by a group that was lead until the death by max bond and that the building was really in the mind of the gifted the designer. could all be architects stand for me right now? [applause]

thank you. what i love about it is that this building was informed by africa, it is also shaped by the design of enslaved craft people who created so much of the beautiful ironwork and charleston, new orleans. it's important to remember that this building does not simply look back, but rather it looks to the future by dean the first sustainable negro building on the mall. vertically important to us. the architects allowed us to do that. this is a place that looks back, that revels in the past and is pointing us towards the future. i'm happy to invite you to explore the amazing exhibitions that take us through the history and culture of america through this lens. that a result of a collaboration between gifted curators and scholars on our staff and

amazing design expertise supplied by ralph applebaum and associates. i have to tell you, we are at this moment because of an amazing group of people. i cannot think enough the council of this museum. these are people who for more than a decade gave their time, linda johnsons, the laura bush's, the: powells, these are people who said this story is important enough that i will be here as long as you need. what they did is they provided amazing guidance and they used their considerable influence to help us meet and exceed our fundraising goal. they did more than that. they helped us believe that we could do this. there was a meeting i remember when the economy was going bad and the fundraising was going

slowly and he looked around the room and said, don't worry, forget these people. we don't fail. they gave us the confidence, the time, to make this work. i will never forget that. we are at this moment because it truly takes an institution to birth the national museum. i cannot express how much we appreciate the support of the regions and his senior leadership because they made this endeavor possible. again, leadership is the key. from secretary adams to secretary scorten. the institution has never wavered. it was and has been the number one priority. we are also at this moment because of thousands of individuals and corporations and foundations who suspended rules,

who dug deeply into their pockets to give the museum the support and money and collection that is needed to tell the story. i have to be honest, that is the most impressive part of this. all of these people came together and said, we will give whether it is money or our own story to the collections. what they made us realize is that the time was now for this museum. we are at this moment because of the high partisan support that we received in congress. bipartisan is not something you here in washington but we received amazing support and from the early days of john lewis to the sponsors trip -- sponsorship of sam brownback and the current congressional leadership, this is really an

example of america at its best. people of different races, different political points of view coming together to craft something they believe to make america better. finally, i have to say, i need to acknowledge that we have one of the most gifted staffs i've ever worked with. in some ways, forgiveness the sports analogy, this is like the 61 yankees or the 85 bears. these folks can play. led by a few director -- can you stand up? [applause] few will ever know the sacrifices and the work they put in. they will know because what they have done something that my youngest daughter described, once they finish the building, it means that this building will be available for the public to engage as long as there is in america.

ultimately, this museum looks back, helps contextualize where we are but hints at what a future can be. maybe even help us find reconciliation and healing. in some ways, we believe so strongly in the words of james baldwin and i think five, the past is all that makes the present coherent. this is an amazing moment and i think you so much for being with us. thank you. [applause] [cheers]

>> c-span american history tv interviewed key members of the design team responsible for the smithsonian national museum of african american history and culture. this is about 20 minutes. >> i'm the lead designer of the national museum of african american history and culture. i was the architect on the team who was -- deliver the museum and vision and feeling and sequence you see when you come to the building. >> what feeling to do hope this building gives? >> uplift. inspiration. one that gives you a sense of

intrigue, one to explore. one that would give you a fantastic overview at the end of the museum come at the top of the museum. you have this fantastic panorama window to see over the potomac river. >> international background, can you tell us about that and how that informed your work? >> i'm from hana -- i was born in the heart of africa. i made -- i grew up in london as a teenager. my practice has a was headed international outlook. we work all over the world. the nobel peace center, also community projects like schools and education. we were building buildings in d.c. before this week when we were asked to join this competition, it was an extra

ordinary moment that we were filled to be a part of. -- thrilled to be a part of. we wanted to form a large team to allow each of our expertise to be the best that we could. >> what perspective do you think this international background and work has brought to the museum? >> it has given an ability to view the concept and story from a different position. it is emotional for me but it may not be emotional in the same way i did not have families who went to the slave trade but i have empathy with it. i think the struggles of the african-american community really reflect the aspirations of the entire black candidate around the world. it is a shared narrative. >> i understand the exterior design was your inspiration.

where did that come from? >> it was from understanding that the african-american community comes from the central and west of africa. there is an extraordinary tradition of architecture recreates these incredible structures. i felt that it would be prudent to take -- make a reference to that tradition so that africans americans who may not know about this tradition understand the place that they came from has these incredible traditions and that is part of their narrative and part of the history. the very important reference and inspiration and the work of african americans as craftsman in the south. metalworkers built beautiful houses that we know in the south and incredible metalwork was a signature of american

architecture bring it was the anomaly built by slaves. wanted to honor that tradition of labor and craft. when you come close to the building, you see this incredible detail which is about that language. >> evident on the exterior plantation homes? >> some of the main house is where the have iron work, you will see the artwork. -- iron work. what you are looking at when you look at the building is mapping, using computer technology to describe the way in which the ornament is made. it is a drawing of how ornament is made which is been represented on the building. >> we're standing in the oprah winfrey theater and the design here is an echo design. >> it is the same pattern that we have reduced in scale. the oprah winfrey theater, we want you to feel that you are in

the heart of the building where is on the outside, the building is an object that is framed by the mall. on the inside, you are the center of the building. >> the porch element to the museum is significant. why? david: we really wanted on the south side of the mall, we wanted to create a welcome. the welcome of the south economic community. this idea of living inside and outside. we felt it was important if you wanted to -- we worked with our engineers to create a water body and speculative structure which creates a microclimate, incredible shade and draws the wind. from a hot summer day when you go up and down the mall sweating and you are able to come to the museum and come to the welcome of shade before you carry on the journey or going to be museum and the cooling effect are

really enhanced the porch and water reflecting pool. --telik little bit about the tell us a little bit about the water element and symbolism? david: water is very important for foundational but feel for the community. the middle passage, the journey across the atlantic, across a vast water body. but also labor in the south, water and irrigation was very much a part of the coastal nature of the agrarian south. i think water is something the african american committee cannot move away from. it is part of the foundation. and martin luther king expressed water being the justice, the sort of justice of water, the cleansing spiritual element that is part of the trinity. i was inspired by those words and wanted to use that as part of the reflection in the building. when you look in the central room, you'll see that in full

effect. >> we are actually sitting in the washington monument grounds. and that is the significance of this particular site. we kind of referred to it as a knuckle position between the pse, washington monument, lincoln and jefferson. i would say that probably one of the most critical points in the development of the washington monument grounds. and of course, i think it created some controversy. being on this particular site. and in the end, i think it turned out well. and probably is the right place for this museum. particularly at this time of our history. >> why do you think it is the right place? hal: well, i think this museum, i am hoping, when it does open,

in a few days, it will be a healing element. maybe for this country and maybe even the world. particularly at this time. what we're going to resignation, the struggles going on between races, ethnic issues come on hoping that this will be a real learning experience and education for the people who come here and can see that we can heal ourselves and be more than just separate individuals or separate people. >> there are a lot of white marble buildings on the mall and out the windows of the scenic into the white house, tell us about the design of the exterior. what does it mean? hal: first of all, i will back up to the competition for this

building. we were fortunate enough to win. at that time, we had 60% of the building above ground. but we went through all of the review agencies here which probably was more my role on this project because i'm in washington as a local architect. having worked with the smithsonian for more than 35 years on some of the institutional buildings, i've been able to be in a position to work with all of the agencies during that period of time. in that review process, it was made clear that the footprint of having 60% of the building above ground was too much for the washington monument grounds. and they asked us to reverse that. which we redesigned and came up with the front of the design that you see here today. that has only 40% above ground and 60% below ground. in the competition, we

had as part of the inspiration of the design the idea of the corona or the crown. and that comes from a column that was developed in the west african country, which was the artistic west african community. actually on this floor, a column which is the column that was the inspiration for this and if you were to look at it, you would see a three-tiered crown sitting on top of that column. carved in wood, but that was the first inspiration for the corona for this particular building. and as we moved, 60% below ground, 40% above ground, it allowed us to put three levels back into the corona which during the competition we only had two levels. which i think was good. and the other portion of this

that was inspirational in terms of maintaining the idea of the monument grounds coming all the way through is that the entire base of the building is glass. and that is to make sure that you feel like the washington monument grounds continue right through the building. and all the way over to 14th and constitution. so, there are these pillars that really contain the structure and the core of the museum. everything else is supported from that. so, when you look to the outside and see this wonderful corona and the structure that is there, it is basically coming off the top of the building through a vertical truss all the way to the bottom. supporting the horizontal ones you see here, supporting that was clad with corona panels. there are 3600 panels. >> what do you mean by the corona panels? hal: if you were to look to the

outside, each one of the panels is roughly three feet by five feet, and the design was inspired by wrought iron work done by slaves in charleston and new orleans. i think lonnie bunch had the idea that if we took the panels that were done in the iron and david did this, connected certain points and came up with this, if you will, modern ironation of that wrought panel. each one of those has the same feel to it and they move back and forth. there is a different ferocity, depending on where you are in the building and if you look carefully, you will see that some have more transparency than others. so we go from anywhere from 65% solid to 95% solid. is an opportunity for a view to connect to the

part of the feel a context of the grounds and the pse,, lincoln, elli jefferson, national archives, all of those are grounding points to establish the context for the museum. and so, there is a visual connection made to each of those. there is a window over here that looks at the white house. this window is looking at the washington monument grounds. to give you the context of the lincoln memorial, and also world war ii memorial and the washington monument. around,, as you move you will see various other viewpoints. >> you grew up in the segregated south. hal: i did. i grew up in memphis. i lived there until i went to college. it was at a time in the 50's and 60's that there was a great deal of change.

i grew up, went to school and segregated schools. i went to -- you would go to a department store and as a young person, you're not afraid to ask questions of course of your parents. and i would say, why is there a colored restroom, why is there a white restroom? why are these signs there for, and water fountains and white water fountains? i was told that that was the way his. i said, why? i mean, aren't we all people? we just have different colored skins? but i did not go to school with any african-american or other ethnic groups. that has greatly changed. much to my delight. i actually went to undergraduate school at clemson university. and the reason i went there for

architecture school and they were one of the first to admit an african-american into the architecture school. a fellow by the name of harvey gant, who graduated, became an established, well-known architect, and became mayor of charlotte, north carolina. it has been a wonderful experience for me personally to see the change that is happened. when i first worked with the native american community, we did a cultural resource center for the smithsonian. and then, we did the national mall. over 12 years, you learn a lot. about a culture that is different than yours. i'm hoping that will be the case when people come to this museum. we've all learned definitely something different by being involved in this museum, and i'm hoping it will have the same change affect on the people. that visit. anderson, where are we standing?

robert: we are standing 30 feet below grade the museum. look at history gallery. >> what is the history gallery? collection ina the museum. downd actually excavated 75 feet to get to the lowest floor. what you're seeing is a chronological sequence of galleries that basically tell the story of african-american history, for the middle passage all the way to modern times as you ascend upwards through the building. >> >> what design elements will visitors find here? robert: i think a lot of it is the lower space here. the space is expanding and contracting inside the mezzanine levels. the ceilings are around 9.5 feet. you get an intimate relationship with things in the lower levels. whereas if you step out of the main chamber, you are experiencing the 65-foot room.

i think there's an interesting dichotomy of space with in the history gallery. >> your company was part of the design team involved in the construction of the museum. tells a little bit about this. along with firm, fremont group out of north carolina, by the time the museum opens next week, we will have worked on the project for close to 10 years. max vaugh, dean of african american architects and late partner who passed away during the competition, he and the fremont group out of north carolina, they had authored the pre-design and programming studies two years prior to when the competition was announced. the project was in competition phase for about a year. in 2008 i think it was, our firm along with several other groups

came up with this theme that won the contest. so, what you see here today is 400,000 square foot of museum where 60% of the building is actually below grade. now, one of the things you'll notice about the competition is that relationship is kind of inverted to keep the city block. as we started to study the building, we found that we had a much more intimate relationship with the monument grounds by pushing more of the program below grade. fortunately, that makes sense. history galleries do not want natural light. nor do the theater and changing, back of houses it is a interesting relationship from top to bottom. >> museum director lonnie bunch has talked about it as being like america's front yard. what was behind the conception of the history gallery and how it connects not only to the mall but the exterior design of the building? robert: the main thing that you actually see as the atrium.

on the north side of building, that is because we can physically except light. it is nice to see that into the chamber. as you move lower and lower into the building, you are going further and further back in time. that is one of the unique sequences into the building is the ascension into the light. the story follows much of that, too. >> talk to me about the symbolism. that we see here in the galleries and behind me, the stories that are told. will havee narratives to give credit to ralph applebaum. our job is for the base building package, within the history gallery which describes the volumes. now, some of the more interesting pieces that you see, like the segregated railcar, we actually had to go down there and catalog that, to learn how to put simple things like sprinklers, electricity, mechanical systems within it.

so, there are some pieces that had to go into the building before the roof was on. that was very critical to the completion of the project. 60% of this is low-grade, it is a real race to get ground level so we can move upwards. >> what do you hope visitors are going to take away from these history galleries? galleries. robert: you know. we get this question a lot. often in comparison to the 9/11 museum. which our firm designed in new york city. i think that this museum benefits from is the advantage of time. the 9/11 museum is a story that has been told over 15 years, where we have centuries to discuss here. and i think it is a very good barometer for how we are doing as a society. >> here's a snapshot of that history behind you. tell us a little bit about the choice for this design element? as visitors first into the history gallery. robert: i think what you are

seeing here is kind of a synopsis from top to bottom, and an introduction to what you will see through the history galleries. announcer: tomorrow, the smithsonian national museum of african american history and culture opens its doors to the public. c-span will be live from the national mall with the 10:00 a.m. outdoor dedication ceremony. speakers include president obama and a founding museum director lonnie bunch. here is georgia congressman hank johnson, talking about the significance of the museum. to him and the country. >> congressman johnson, can you give us your views on the importance of the new african-american museum for the country? congressman johnson: well, it means so much to be collective psyche of african-american people, who throughout the history of this country have been beleaguered by a lack of knowledge about our history.

when you don't know how great your forefathers or forbearers have been, then it is hard for you to capture in the present moment how great you are and what your future potential is. and so, what this museum will do is to restore the ability of african-american people to reach back into history and see how great we have been, how our forebearers have been strong and able and accomplished. and so, as each successive generation views those accomplishments which we are adding to daily, it does nothing but strengthen our people and strengthen our culture and it strengthens the fabric of america, which is comprised of a multitude of threads.

african-americans being a major thread in the history of this great nation. >> the founding director of the museum, lonnie bunch, has said that he sees this as being the american story through african american lens. congressman johnson: that is a great observation. i would add that it enables african-americans to peer into our own unique background and to be proud of our accomplishments. and to have hopefulness about the future, based on what we have already accomplished in the past. and of course, the present moment is the most important phase of living, be it past, present, future, to be able to look back onto the past provides

us with a clear hope and even guideline for our future. so, we have accomplished so much in the past, there is no reason we cannot continue to cut through all of the challenges that we face uniquely as african-americans, and continue to build a tremendous, positive history, as demonstrated by the election by the american people of the first african-american president eight years ago. he has been elected twice and has served two terms and is leaving office with a very positive popularity rating or favorability rating. it says so much about what he is as a representative of us, what we have been able to accomplish despite the obstacles that were thrown in our way since it of -- simply because of the color of our skin. >> can you tell us what the

museum means to you personally? congressman johnson: well, it means i have a home. it means i can go and savor the accomplishments of my past. i can go and learn about them. because we have been cut off. part of our challenge is that we have been deprived of our history. it has been a systematic, calculated approach to handling the african-americans. it is to cut them off from the history, forbid them from learning from the history and what history there has been has been skewed so as to not be accurate. and so, this museum has the opportunity to recast our history, from a long period into the past, restore a knowledge base about our culture that then

creates a collective psyche that is much more healthy than the one that we have now. and let us face it, our collective psyche of the people is damaged right now. this museum will go a long way towards our ability to heal ourselves. and also, it shows others who decide to come to find out about nothistory you're african-americans, gives them a greater appreciation of our role in making our country the great nation that it is today. >>, richmond johnson, thank you very much. announcer: the smithsonian national museum of african american history and culture opens its doors to the public the first time saturday, and c-span will be live from the national mall starting that

at 10:00 in the morning for the outdoor dedication certainly. speakers include president obama and a founding museum director lonnie bunch. watch the ceremony live on saturday at 10:00 a.m. eastern . watch live anytime on c-span.org and listen live on the c-span radio app. leading up to the debates between hillary clinton at donald trump, we look at past presidential debates on saturday at 8:00 p.m. eastern. this saturday, it is the 1976 debate between incumbent gerald ford and former georgia governor jimmy carter. president ford: we were faced with heavy inflation, over 12%, faced with substantial unemployment. but within the last 24 months, we have turned the economy around. carter: we have 500,000 more americans out of work.

since he has been in office, we have had a 50% increase in unemployment. announcer the 1980 debate with : former california governor ronald reagan and president jimmy carter. president carter: when i made my decision to stop all trade with iran as a result of the taking of hostages, i have announced and consistently maintained since then that if they are released safely, we would make delivery on those items which iran owns. governor reagan: we had adequate warning that there was a threat to our embassy and we could have done what other embassies did my the strength and security or remove our personnel. before the kidnapping takeover took place. announcer: and the 2000 presidential debate between former texas governor george h.w. bush and incumbent vice president al gore. vice president gore: i will pay down the national debt. put medicare and social security in a lockbox and protect. governor bush: i'm going to take

one half of the surplus to social security. one quarter of the surplus for important projects. and i want to send one quarter of the surplus back to the people who pay the bills. announcer: watch past presidential debates on saturday night at 8:00 eastern. watch anytime at c-span.org and listen at 8 p.m. eastern on the c-span radio app. russian foreign minister sergei lavrov spoke at the united nations general assembly in new york city. he discussed russia's military efforts in syria and criticized u.s. intervention in the middle east. this is almost 20 minutes. >> speaking foreign language >> ladies and gentlemen, at the

anniversary of the general assembly, a good number of fair assessments were heard at this turning point in the development of the world. the keynote was acknowledgment of the fact that humanity in its transition from a bipolar world order to objectively developing polycentric and democratic systems of international relationships have faced challenges and threats, to us all. which we can only overcome by working jointly together. it was rightly stressed that there is a need to change the very philosophy of interstate communication, by excluding attempts to interfere or imposed development models two countries. unfortunately, the idea of mentoring, supremacy, exclusiveness, realization of one's own interest by any means which has been deeply rooted in the minds of political elites of countries, western

to the detriment of our efforts to promote cooperation, the outcome of arrogant attitudes and feelings for pushing towards unilateral and reckless solutions, we see this in the leading middle east and north africa. as a result, the foundation of the world stability is being destroyed. it is time to learn the lessons. and present the slipping down to catastrophe in syria. mainly thanks to russia's military assistance, the syrian legitimate government, it became possible to prevent the collapse of statehood and the disintegration of that country by terrorist. our engagement provided impetus to the establishment of international syrian support groups with a view to start a meaningful political process some of the syrians could determine the future of the country themselves through an inclusive dialogue of all ethnic and religious groups. this was recorded, to which there is no alternative with the u.s. security resolution and was

embodied in recent agreement between russia and united states as cochairs of the international syria accord group. now, it is essential to prevent the disruption of these agreements and to carry out unbiased and impartial investigation of the incident in aleppo, especially since there are quite a few people wishing to sabotage these agreements. and is settling in syria. it is part of the importance to fulfill the demands of the un security council to separate the so-called moderate opposition from terrorism. and a particular responsibility in regards to the lives of the u.s. and members of the us-led coalition. the syrian crisis cannot be resolved and the current humanitarian situation cannot be rectified without the deletion of isis and associated groups. and the associated extremist groups. for the un security council. a will not be able to have

humanitarian situation that will improve without reaching out the terrorist groups in order to have a truce and reconciliation. we need to strengthen and start negotiations without any preconditions in line with the u.n. resolution. the sabotage of the process with a specific people abroad with their mentors and supporters has been a negative impact on the un's reputation and leads us to believe that, once again, the reason lies in an attempt to try to change the regime. the zero-sume game, we have seen this in ukraine. it is very close to us in the anti-constitutional attempt to overthrow the government and now the refusal of the ukraine

minsk agreement. by and large, trying to use these complex situations for one's own egotistical goals has been clear to all. the last meeting of the contact group gave us very cautious basis for optimism. broader, it is only through the agreements that we will have any opportunity in the euro atlantic area to have equal and indivisible security as with the oecd 20 years ago. nato nor the eu will be able to substitute a truly collective communication of efforts without any winners or losers. and it is utterly unacceptable to use sports for example to

make hostages of political ambitions, which has always brought people together to strengthen friendship and confidence to usurp the right to predetermined outcomes. it does not honor those who flaunt their allegiance to fair competition, but are flouting the principles of independence and autonomy of using sporting competition in this way. in today's world, we cannot use the philosophy of antihero or orwell's anti-utopian "animal farm," where are all animals are equal and some are more equal than others. in the 21st century, it is indecent to play mentor to everyone around. to use doping or to launch unilateral ventures to conduct geological experience that cost millions of human lives and engage in territorial blackmail. including with allies. when i play our financial

profits for one's own at play or even establish the criteria which deems one country great. this is unworthy of the principles of freedom and equality on which great nations were built and grew. this year, we will mark the 70th anniversary of the nuremberg trial decision. this anniversary cautions us on forgetting the lessons of world war ii. and reminds of of the catastrophic consequences of attempts to determine the fate of the world by suppressing the legitimate interests of other states and peoples. we cannot use the freedom of expression and freedom of assembly as an excuse of condoning radical movements that express nazi ideology and glorify them and their accomplices. we need to dictate the need for consistent effort to put a solid barrier in the way of neo-nazis and strengthen international agreements and rally the young

generations around the idea of justice and equality. we invite everyone to take part in the 19th world festival of youth and students in october of next year. humanism has no place in the future, if you want to be a future that is just and give all people the opportunity to choose their own development, this implies the need to learn to respect one's partners and respect the cultural and civilizational diversity of the modern world. this means we need to come back to our origin and norms and principles. enshrined in the u.n. charter and other organizations, our commitment to that approach was reaffirmed in the russia-china declaration on increasing the role of international law. signed on june 25 of this year. the observance of the principles of sovereign equality, monitor. it should be a common measure of decency and legitimacy of any member of the world community.

we do not put an end to this type of philosophy of anything goes, we will not be able to counter international terrorism, proliferation of weapons of mass destruction and other threats. in fighting terrorism, we cannot use double standards. here, we need true universal pooling of our interests in order to put together a broad counterterrorism front, as proposed by president putin from this stage a year ago. the tragedy of iraq, libya, syria, yemen has proven the need to stop opportunistic attempt to use extremists for advancing geopolitical and tension. we need to think about preventing the perforation of terrorist and extremist ideology. which literally holds the youth hostage in many regions of the world. adapting the security council

revolution in order to mobilize the effort. and looking forward to your support. out radicalism, we can also look at settling the israeli-palestinian conflict. we need to get it out of the stalemate, which we are focusing on from the meeting from the first of july. and we are looking forward to implementing the recommendation. but we are also worried about the nonproliferation and arms control. it is very important to support strategic stability. all of the components. and some are trying to replace this populist slogan of nuclear so-called, and we see that many countries that have nuclear arsenals are taking part in these agreements. we are also putting to the test the nonproliferation treaty. it is putting a serious test. it is hard for some parties can find a common language.

especially when some nuclear powers or torpedoing the establishment of a free weapons of mass destruction zone and means of delivering the middle east. russia has consistently supported the liberation of humanity from the threat of nuclear weapons. and other types of wmds. however, the advancement towards nuclear disarmament must be made with a full consideration of the set of factors. with strategic stability. including the creation of unilateral missile defense systems. the placement of strategic non-nuclear weapons, placement of weapons in outer space and the inability to ensure the nuclear test ban treaty and the conventional arms of europe. we know the growing support of our initiative to draft an international convention for

suppressing the acts of chemical and biological terrorism to start a serious negotiation on behalf of the russia-china on the prevention of not raising weapons in outer space, could help us move the u.n. for the multilateral disarmament mechanism. we also call for a successful examination of our proposals on the improvement of the convention on the prohibition of biological and toxic weapons. nato member countries brought the conventional arms control in europe to a deadlock. our attempts to salvage it saved a tough ideologically driven counteraction. our ideas to return to this issue now could only be only if the north atlantic alliance would recognize the futility of using ultimatums and at achieving unilateral advantage. we continue to be open for equitable and mutually respectful dialogue with nato

, including through the use of the cfto, also to strengthen stability. in other parts of the world would be necessary in the asia-pacific region. u.n.ll upon them violating sic resolutions to abandon the nuclear missile program and return to the nonproliferation treaty regime. however, it is inadmissible to use the situation as a pretext for massive missiles in northeast asia and to deploy another area for the u.s. global missile defense system. all sides must refrain from further escalation to embark on the way towards political and diplomatic settlement of the nuclear problem of the cream korean peninsula. a will continue the east

summit, establishing the area, regional security cooperation architecture of the foundation. a number of participant countries, russia, india, china , and indonesia have submitted their consideration between by countries of the region to agree on the way to implement the initiative to establish an extended your is a partnership, with the participation of the eurasian economic union, as well as other members of the group as well as other interested states. i would like to underscore that this initiative is open, fully in line with the earlier established plans to create a trade investment between the russian and european union. it will be working on behalf of wto, unlike the projects which explode the trade investment blocks that undermined the

global trade system. we will continue to promote the unification agenda in the economic forum. the shanghai cooperation organization and members to 20. the recent summit reaffirmed the summit as the leading global and economic forum. and we thank the chinese chairmanship for the effort to sufficiently use their representative slots to exchange views on the key issue of global policy, particularly the motions of these agreements and the universal format. signing the paris agreement on the prevention of climate change has become important activity. intendednication of contributions nationally on a voluntary basis towards achieving the objective, to hold temperatures below two degrees celsius, now we need clear provisions for the paris

agreement to be fully implement s, itonsidering everyone' is also important, in this context, that article six provision of the emission of greenhouse gases, it is of crucial importance to prevent a violation of competitive polluted, from one country to another. which hampers the achievement of sustainable goals. saving. established generations from the scourge of war and developing all areas of international life and human communication from the military, climate summit, peacekeeping, the right to freedom, information technology. and to fight terrorism and drug trafficking, to combating

corruption, eradication of infectious diseases, to upholding social responsibility, and to foster scientific progress. and of course, the united nations must promote the dialogue for civilizations, the plural culture and the catalyst for science and arts, and essence talking about preserving community and all of its rich diversity. and this is the goal that should constitute the basis for our collective effort and become an imperative for global development as an incentive for improving global governance and a true democratization of international relations. i would like to express our gratitude to those who have made efforts on behalf of the u.n. secretary to relieve the united nations, with regard to the time constraints, we believe that the new general secretary made valuable contributions. thank you for your attention.

[applause] korea's foreign minister also spoke at the united nations general assembly. korea'snced south recent military exercises and blamed the u.s. for the existence of all nuclear weapons. this is 15 minutes. >> and i now give the floor to his excellency, minister for foreign affairs of the democratic people's republic of korea. >> mr. president, allow me first of all to congratulate your excellency on your election as president of the 71st session of

the un's general assembly. i look forward to the session under your able stewardship. session under the theme of sustainable development goals, the universal push to transform our world, will make a meaningful contribution to promoting peaceful prosperity of all countries. president, peace and security are a permanent theme of the united nations. of sustainable develop goals peace and security. even at this very moment when the u.n. has formation for sustainable to the limit, the world is besieged with a wild wind of terrorism, due to disturbances of war and increasing global hotspots. peninsula has now been turned into the world's most dangerous hotspot, even the

outbreak of nuclear war. peaceful environment is the foremost prerequisite for the democratic people's republic of korea, which has embarked on the augmentation of a five-year strategy for national economic aseloped to reenter sustainable development. as the international community witnesses every year, the situation on the korean peninsula is often engulfed in a situation out of control, with the risk squarely on the u.s. abandones not war exercises, one after another on the korean peninsula. the large joint military exercises conducted by the united states during the period of march to april and september of this year were extremely massive military maneuvers involving troops of over half a million strategic assets, including strategic nuclear bombers and nuclear submarines, which are more than enough to

wait an all out more in terms of sheer scale. and exercise is offensive the aggressive nuclear war exercises, now include the operation of high precision strikes, demanding the limitation of nuclear strikes of the leadership of the dpk, and the occupation of the young yank. nowhere in the world, there is large as though. nor are there wargames of such an offensive nature.there has never been such a military threat, extremely dangerous aggression exercises, as those conducted under the nose of the adversary. the korean peninsula is the place with no proper institutional mechanics. the war of the 1950's has not ended, but remains in the state whichporary armistice,

means either side feels no need to make a declaration of war in case it wants to begin fighting again. whereh, it is the place provoking military acts like the large-scale drone military exercises can easily infuriate the other side, thus combining the response. canincidental accident easily lead to conflict and escalate into an all out war. are increasingrn about the aggravation of tensions resulting from the large-scale joint military exercises, not only in the neighboring countries of the peninsula, but other countries and even in the united states and south korea. we have made every possible effort to prevent an armed conflict and the escalation, while taking necessary self-defense countermeasures whenever the provocative and aggressive joint military exercises were conducted by the u.s. and south korea.

leader king john noted that at the seventh congress that the u.s. should abandon the anachronistic hostile policy towards the peace agreement, and withdraw aggression forces and war equipment from south korea. he also clarified there is the need for negotiations between the military authorities between the north and south of korea, to ensure peace on the peninsula.without any positive response , the large-scale military exercises targeting us are continuing more aggressive. mr. president, in the international arena, a president that is globally recognized on the fundamental -- by the

imperial forces for the outrageous schemes of domination. it is criminalizing, injustice on the power. in view of safeguarding peace and security and achieving sustainable development, the international justice must be realized without fail. article one of the u.n. charter the first to bring about a peaceful means confirming with the principles of justice and international law the settlement of a situation which might lead to a breach of the peace. however, in dealing with this issue on the korean peninsula, the un security council is now playing the role of covering up the heavy handedness and arbitrariness of the u.s. in the name of the united nations, ignoring international law. in government of dpk accordance with article 34 and 35 of the charter made a request

to the security council on several occasions for an emergency meeting on the international peace and security being threatened by the large-scale u.s. threat. this year alone, we have made such request to the un security council, and we asked respectively, but is turned away every time. on the other hand, the un security council takes issue with the righteous self-defensive natures taken by us to regard us as sovereign. choice, butother inevitably after it has done everything under national security to counter nuclear threats from the u.s., which has continued over the centuries from the 1950's. strike then to nuclear armament is a righteous self-defense of the u.s.

nevertheless, the un security council declares that the dprk ongoing ballistic missile activity are a clear threat to the national peace and security, in the so-called resolution 22 70, which was fabricated, most recently against the dprk. as for the legal basis of the resolution, there is no provision either in the u.n. charter or in any other international court, that ballistic and rocket activity poses a threat to international peace and security. haveahead of the dprk never been called to question. ask on whatnnot ground and on what authority the security council adopted the resolution printing rockets of the dprk, if they have such authority, why is it that it does not take issue with those countries which conduct nuclear

and ballistic rockets? we've presented an official questionnaire in this regard, but the cemetery is not as t answering those. the answer is clear. it is because the security council is the place were the guilty are decided not on the basis of justice but by whether one has the power or not. the u.s. has no more qualifications to force a human member state to admit that, while the number state has no moral of addition to prevent this unfair and unjust resolution. summit wasthe 17th held in the beautiful island of margarita and venezuela. the stateal document, and government expressed concern that in recent years the history counsel has been too quick to

threaten or authorize the enforcement, while being silent enacting others. sanctionsining the should be imposed, only when there exists a threat to international peace and security or an act of aggression, in accordance with the charter of the united nations. declarationrita adopted at the summit, the heads of state and the government expressed the condemnation as to the application of the unilateral sectarian measures against countries of the movement, in violation of the charter of the u.n. and international law. principles ofthe self-determination, this is the composition of the countries that take up nearly two thirds of membership, and this is the true voice of the international community. international justice never comes by itself, but can be

answered only when countries go strong. nuclear arming is the policy of our state, as long as there exists a nuclear weapons state, with relations with thedprk, the national security and peace can only be defended with reliable nuclear deterrence. why we have no other option but to strengthen our nuclear deterrence is that it may not be equally understood by the european countries, it has become less sensitive after a quarter of a century from the end of the cold war, of those countries that have never experienced the nuclear weapons of a hostile power. on their doorstep and in their airspace. the successively or nuclear warhead test that we have conducted recently is of course a countermeasure to the threats of the hostile forces, including the united states with the exercise to stop the defense of

the dprk. it also demonstrates the strongest will of people who are ready to make a counter attack on the enemy propagation. only a couple of days ago, the united states has again threatened dprk by flying strategic bombers over the military demarcation line on the korean peninsula and landing. never remain, and the united states will have to face tremendous consequences beyond imagination. dprk will continue to take measures to stress the national nuclear armed force in both quantity and quality in order to defend the country, and safeguard against nuclear war threats of the u.s.. mr. president, in order to safeguard global peace and security, and to achieve the all international order where justice prevails under the disguise of justice, it should be destroyed to give way to a

new international order of impartiality and injustice. u.s.ed upon cuba on the for the past several decades is a typical example of total abstinence of international justice. the retaliation of dprk extends full support and solidarity to the government of cuba to safeguard the dignity and sovereignty of the nation, and realize the international justice in the face of high handedness, arbitrariness, and the unilateralist of the u.s.. this should be realized as soon as possible and palestine, and in those countries and regions like syria, iraq, libya which face war and rapid interference by the u.s. and the international office of government state. the political attempt by the u.s. and western countries to infringe upon the sovereignty of the independent african countries, by the international court, should be checked and hold. and it is a force that should be

rejected the politicized human rights issues that demonize the independent countries and use them as a tool of revolution. if the u.n. really pushes this justice no country will help on it. targeted for regime change by the united states, as a country with human rights problems without exception, this is taking place in the forum. but it only one of them, is an independent country which is not in favor of the u.s. and the forces. in the u.s., raising the issue , ituman rights in dprk finds itself at a loss again on human rights issues, they will take up another issue to continue. however, the u.s. will never be part of our people, especially of their own choice.

and the absolute service of the war. mr. president, the government of dprk will push ahead with the vigorous struggle to remove the threat of nuclear war by the u.s. as a powerful deterrent, safeguard the piece of the peninsula, asia, and the world at large, and the nuclear world. thank you. [applause] minister forthe the democratic people's republic of korea. announcer: tomorrow, the smithsonian national museum of african american history and culture opens to the public. c-span will be live for the national mall with the 10:00 a.m. dedication ceremony. speakers include president obama, and the founding museum director lonnie bunch. here is illinois representative robin kelly, talking about the

significance of the museum to her and the country. >> 50 years after the passage of the civil rights act, what you think is the significance of the african-american museum to the country? representative kelly: the word that comes to my mind is pride and appreciation for the african-american experience in the u.s. >> and you personally? representative kelly: again, pride. i think the world will be educated about our contributions. i will be educated about our contributions. and also, i think that particularly for african-american young people, they see all the contributions that african-americans have made it to this country. we helped make this country to he great country that it is. >> lonnie bunch says this is about understanding the american country through the african-american lens.

what are your thoughts on that? representative kelly: i agree with him. but also, we are the american story. we have been left out of the story too much. people know about martin luther king. they know about muhammad ali. but there are so many people that have contributed to what makes this country the country that it is. and on. lawyers, on besides artists, painters, which are very important.we have contributed in every aspect that you can think of. >> any specific story you up to see reflected in the museum?representative kelly : you know what, not really. i have not seen it yet. i and is looking forward to the whole experience. and i guess i'm looking forward to the things i do not know about. like, i know there are going to be things about our president, or things about muhammad ali, or martin luther king. you know, just names i have named.

looking forward to learning about the expenses i do not know about, that i thought i knew about. and i can learn more about. >> building the museum was more than a century in the making. do you have a sense and congress today of the support for the museum? >> and the political stories that it eliminates. heard many people speaking about it beyond the members of the congressional black caucus. that is not to say others are not interested. this is for everyone. this is for the whole world. it is not just going to be american citizens. i've heard great things about it. it's going to be very popular for a long time. and because of who our president

is, that bring some popular -- popularity to the use aim itself. >> thank you. >> the smithsonian national museum of history and culture opens for the first time saturday. c-span will be live for the outdoor dedication ceremony. speakers include president obama and lonnie bunch. live saturday at 10:00 eastern on c-span. listen live on the c-span radio app. >> once more we will have a government of, by and for the people. >> we are stronger together. , remember this. love trumps hate.

c-span's coverage continues with the first debate beginning at 7:30 eastern with a preview. then the predebate briefing with the audience. by0 live coverage followed your reaction. the 2016 presidential debate on c-span. .r listen live >> now, jack lew talks about closing the racial wealth gap in the importance of financial literacy. this is about one hour and 40 minutes. >> good morning. thank you everyone so much for being here, for joining us.

on the acting assistant secretary. it's my honor to help folks who organized this event this morning. i want to start by thanking everyone for coming and relaying how proud we are to host this event, to host it in honor of the friedman's bank, and to honor the legacy of african american history and culture which is getting so much national recognition this week. togives us a proud backdrop talk about how that history and legacy connects to today's agenda. real solutions, and how we think about jobs and financial empowerment. we are also deeply honored to be a large number

of notable guests. slater, members of congress. representative karen brown. it's a testament to our speakers. to have such a tremendous audience. first, introducing our first conversation, i want introduce the 76 secretary of the treasury. jacob j lu. lew.cob serves moreram communities. we hosted a financial inclusion forum last year and brought

together hundreds of leaders to promote access to safe and affordable financial products. a starterd myra, retirement account for millions of americans who need -- whose needs are not being met by their employer or by the market. we are also led to be joined by the editor in chief of black enterprise magazine, a national correspondent, leading editor and writer, and a voice i think, about how entrepreneurship and enterprise can provide opportunity. let me thank them from being here and hopefully you will join me in a round of applause. [applause] agreeing to ber a part of this interview. i would like to commend you and

your staff for holding this event, especially during such a momentous . eekend as the unveiling of the national museum of african american history and culture. i would also be remiss if i didn't take an opportunity to thank john hope bryant of operation hope who served as one of the catalysts to get this conference together. i think that this is a prime opportunity to talk about where we stand in terms of financial inclusion and before we delve into what this means for african-americans and people of color, i want you to define financial inclusion. whendoes it mean and financial inclusion is effectively working, what does

that look like? >> thank you, derek. let me start by thanking you and a tremendous group we have gathered here today for being part of this. we are very proud to be able to be part of this weekend and to do it in a way that is a continuation of things we have been working on for a very longtime. it ties together our real-time policy and our reflection on our history in a way they gives us the ability to look forward. i think the financial inclusion is really about looking to the future and how do you make sure every person has the opportunity to be part of our economy and grow and develop their own capabilities. if you are not part of the financial system, the likelihood of being able to buy your own home, being able to get a small business loan, of having a credit history where the financial system know you are there, if you are not part of the system, the odds of that working go down. it means that your ability to

grow as an individual is reduced and it means your ability to contribute to the economy is reduced. this isn't something we just do because it's the right thing to do for millions of people who deserve a fair opportunity, it's something we need to do to have a healthy economy. we have worked with our partners at usaid to be part of a conversation around the world on how did we get more people connected to the financial system because that is the way to get more global growth and more stability. here at home, we are proud, a few months ago, to post an event were renamed our annex building the free mix banks building. the bank started by a charter from president lincoln and frederick douglass to do exactly what i'm describing today, to give free slaves, after americans their first opportunity to be part of the formal financial system.

it also cut us a lesson that you pay attention to strong financial standards because people can put their money away and it does not necessarily build a sound that they get the institutions are not sound. encourage that at the institutional level. we are trying to give individuals a chance to get connected. their host of things we're doing from people getting their first bank account to working people starting to save two institutional- presence of capital in the neighborhood. as part of something that we need to do even more of. to unpack that and look at this moment and one i want you to further address the significance of the naming of bank,ilding, the friedman as well as naming this conference that appeared in that tradition and in terms of the

spirit of friedman's bank, how can we ensure that after americans and people of color can gain that financial inclusion that can be part of the wealth building process? >> there are many parts to the answer. i will start with the history. i think that the history of the friedman bank underscores that it is not a new idea or a novel idea to have a strong economic future, he up to part of the economic system. the intervening history has been mixed. it is provided access to some but not too enough. with ourre doing agenda and by looking back at the history, work is not done. we still have think that we have to do and there are things we can do in the treasury department and working with our colleagues across government and private sector to make a real difference.

the challenges personal. i see some friends have worked with us on financial inclusion and financial education. when kids get their first summer job, we try to help them open a bank account so that with the first paycheck comes the connection to the financial system. the alternative is the money system in a pocket or show box. -- shoebox. it gives you the ability to have a financial history and the other thing is likely to lead to you spending the money or losing the money. we honor that if you put the money in the bank, it is different than if you are treating it as something more casual. when people get their first job, but it usually start thinking about saving for retirement. they should. it is very hard to catch up if you wait 10-30 years and don't

start saving early. what is one of the challenges that people have come at their a lot of banks our money managers who want $30 deposits and accounts that don't have dollars. is not economically attractive because of the cost of managing accounts. we created myra which is still in the ascendancy stage it is becoming established. to give people an opportunity to have safe, affordable and simple ways to save for retirement. it does all of those things. investing in u.s. treasury bills. putting any amount with no minimum balance. all you have to do is fill out a simple form or if your employer is giving the option. why are people not signing up? that is something we are working on.

part of it is to get the message out. we have reached out to many of our friends in the community and financial institutions and amongst employers to get the word out there. needof it is that people to understand that putting five dollars and $10 away makes a difference. it accumulate over time into savings. it accumulate into having more your future.ntrol that is something we are pushing and we will continue to. >> that also goes to the viability of institutions. talk about the friedman bank historically, african american banks have been anchors of the communities. they have been responsible for home loans and mortgages, starting businesses. in the 60's, we saw 60 african american banks. declined and it

continues to decline. in fact, black enterprise has an banks.list of tanks -- at one time he had 25 topics and that we have 10. what is being done to strengthen african american banks and community banks that are going to be essential for doing what you are talking about? there has been a hard 30 years for a small financial institutions. the pressure to reduce costs has led to consolidations. economic turmoil of the financial crisis has put stress on institutions. we have worked to try and help make the pathway towards becoming a cdf i easier to manage. with thed to deal legacy of the financial crisis, help institutions work there

tore -- their way out control their own futures. athink that we have to look the challenge of having community financial institutions remain strong but the larger and regional national banks be open as well. a mistake to think of it as the only pathway through the community. it is important. in many contingencies, it is the strongest one. we also have to make sure that thevalues are reflected in way national and regional institutions make their services available and open their doors and that has a two edged sword. you open the door to full opportunity and competition and it makes it more challenging for the community and financial institution. we need to strengthen --

strength of both levels. i don't think it would be a good outcome if the old place for african american banks would be at the kennedy bank of a other hand, you do have the community bank and have access to the regional. >> can that be done through partnership. ? liberty bank and trust is number three on the list. they partnered with chase bank to create rehab loans in detroit to open up the opportunity for homeownership. is that the model? for a national banking partner with a community bank is an excellent way to provide strength and make their broader financial platform available even while preserving the strength of the community organization. when i go through communities in our country and i see a strong, local financial institution and

size that there is a project being funded by a large national institution, i think that is the way you get the maximum amount of economic access and capital into a community. it is a challenge because you can think of these as purely competitive institutions or you can think of it as a possibility of partnerships and working in harmony and ecosystem with room for both. ,> when you look at retirement has treasury looked at in listing partnerships with african american asset managers? we have a number of asset managers. one of the major thrust of these asset managers are to manage pension funds, government funds with thes to partner slate of financial services for

major corporations. i would like you to touch on that and address that. i know that treasure has looked at working with african-american and financial services firms. how do you bring them to be part of the equation for retirement management? there are relatively limited places where the federal government is actively investing. where we invest, we have to make some choices. downyou break the policies , he realized that some things unintentionally have an effect of driving things towards large entities. if you are managing a portfolio you could look purely at the history of return or what the most cost-effective way is to manage your money. is cheapercontract than having 10 contracts. but if you only go to one contract, you're only going to

go to the largest firm. if you do your investment by looking at to return, you get more diversity of asset management advisors into the mix. we have pushed to have a more flexible standard so it is not rigidly driven towards consolidation. it has to be based on performance history. you can choose to invest funds and a fund with a history of poor performance. performance histories were not that different. >> we found -- better performance than larger asset managers that have more of of assets under management government and private institutions. worked ony who has trying to manage our government efficiently for a big chunk of

my career, i understand the desire to reduce the that theative costs administrators in a funds would have. you could see that that would and havingo go home one staff and oversee one relationship. we have tried to break that apart. we are try to say, look at performance. sure the doors open to more competition. i think there is more work to do. a deep sense of history that has not led to a broad opportunity here. i think there has been an inflection point in how we think about it that we could change. >> financial inclusion, i thought it was important to talk about the institution that have been instrumental in getting many african americans on the path to wealth building. the greatophy --

recession wiped out a great deal of african-american wealth. reveal was that african-americans who had wealth were tied up to property. when you look at african-american wealth versus is 141,000et worth for what families. 11,000 for african-american families. and --ng on the measures it is worse than that. from your standpoint, what can be done to close this racial wealth gap? grown and has become worse in the last 25 years. how can we reverse the trend? >> urinalysis analysis of the impact of the financial crisis

and where we stand today in terms of disparate levels of wealth are very much on our minds as something that is a challenge we have to deal with. there is no question that a lot of african american families have their personal wealth tied up in homes. there is also been a disproportionate number of committed to that of not bounce back in terms of bodies were a lot of the properties in size can be found. i think diversified investment practices would help. it also starts with how much access you have to invest in the first place. if you only have a down payment for a house, there is nothing left if you want to have a house to have diversified holdings. starting small ends up leaving you in a place where you are more exposed.

how do you accuse more assets in the first place? -- accumulate more assets in the first place? it starts with understanding the needs at the staging early. you can't wait until you are 50. you just can't. 111 ursus 11 is retirement -- versus 11 is retirement saving. auto ira, getting people over the hurdle to get started. say, can'tople afford to say. [indiscernible] will buy magazine or video without

thinking about it. >> hopefully black enterprise. [laughter] >> if you take the achingly to decisions that people make -- a keenly did decisions that people -- by kimberly did -- accumulated decisions that people may, let the five dollars and $10 buildup. financial education, financial literacy is about understanding. for some people, buying a home may not be the right decision. it might be better off getting started with a ira. or better off having diversified -- if you invest with treasuries and you $10,000, he would still have $10,000 because they are solid. this could you a way to get your first $10,000 into something you can't lose. people have to make these decisions based on where they are in life.

when i bought my first time, i did not have a lot of savings. i think every i could to get my first home and i'm not sorry i did. it was at a time where i knew my income was something that permitted me to do that. i was not making the decision not knowing where was the next month and i had a plan to go ick to being able to have -- did not draw that my ira to do it. some people don't have any retirement account left after they buy their first home. it is a question of getting the pieces together and making the choices. you have to start out with enough to work with. make sensible decisions and i n an adequate job teaching people about managing their financial life. >> it is interesting you say that. how do you incorporate that as

part of the education system? you have student that graduate and the one area that isn't a mandatory focus is financial management. >> we have worked to reach into the schools to develop curriculum materials that are friendly and not offputting. ametimes they look more like video app than they do an economic textbook. yet to get the people in a way that takes the subject matter and makes it accessible. you have to have opportunities. things like having your first paycheck go to a bank account makes it different. if your first summer job goes into a bank account, you are good. having somebody come to a job and make the decision to put that first five dollars-$10 into a retirement account, once you

start, people tend to continue. you knock it is all the problem with one simple step. efforts andto take partnerships in schools and the financial communities. government and private sector working together. that is something we put a lot of energy into. we are going to do our best to make sure he continues. >> and it has to extend beyond that in terms of lifelong learning and lifelong financial education. , a survey ong retirement, we're finding out that many people are running out of money during retirement. how do you and how does the treasury work with organizations to make sure that does not happen? >> it is a long topic.

years after they retire is more than it used to be. with longevity, people have to plan on not having a year or two but a couple of decades. you need a better nest egg. you may need to find ways to work longer. you need to make sure that you have liquidity at the point you retire. that is a complicated puzzle for people to put together. we can help. the something that our schools can help. financial institutions can help. it is something that is going to make all the difference in the world in terms of people having those golden years. we are doing a lot of work but we need to do more. >> one last question. going back to history. treasury department has been

extremely progressive naming the building friedman bank. what was the significance of placing harry tubman on the $20 bill? >> of all the complicated and deported things we work on in this building, more people are aware of the decision to put harriet tubman on the $20 bill and everything else we have done combined. that is a good thing. it is why we have taken it so seriously. we set out years ago asking the question, how do we make our currency reflect our history more completely? we had no women on currency. we need to have the other half of our population see themselves when they look at the money and those of us who are men need to see the women in our history when the look after money. we have looked at hundreds of

possible candidates. as i went to the process of listening to the millions of comments, the forms we had, the private conversations, i increasingly came to see the story of harry tubman -- harriet tubman being a similar story and also being the american story at another level. a story of independence, current as one person in a system that made it almost impossible to achieve. a reminder that each of us has a part to play. it contains the system. it is something i will always be and lookbe part of forward to finding the -- >>