let me turn to the next. the question is: how much consequence have nuclear weapons been since world war ii? and it seems to me they've been very little historical consequence and have not been necessary to present a major conflict in europe. the big argument has been that without nuclear weapons there would be a war, particularly in europe, and world war iii would have happened. that's churchill, he said after the world emerged a curious paradox. with the result that safety will become a sturdy trial of terror. and another way of putting that, is this, much more bluntly, that if -- if counterto fact, nuclear weapons had never been invented, then what this says, the people running the world were so incautious about the loss of human life, so incompetent or simply so students that they could not have been helped plunging into a major worse if the worst they could have expected was the kind of da strove they had just recently experienced. the point is that without nuclear weapons, the united states and soviet u

let me read it again.ain. >> sorry, i have to find the page. >> there is the maxine waters, tell you what this liberal is going to do. >> guess what this liberal would be all about? this liberal would be all about socializing -- would be about, basically taking over and the government running all of your companies. >> that one is just the best piece of video ever for holy crap, uh-oh. um, um. i can't think of anything barney frank has done this year that's been crazy, except for maybe -- i do like -- when i think barney frank, i think of the audio where right before the crash comes. faneuil and fanie and freddie is perfectly solvent. >> i think fannie mae and freddie is fundamentally sound. i think the prospects going forward are very solid. >> please! >> to your favorite married couple? >> tiger woods. if that is not a marriage made in heaven, you know. swedish supermodel and ahh, hookers and stuff on the side, too. then we have congresswoman chikowsky and robert creamer. married. i don't think he took he

let me ask for one prediction. you talked about the fact, vernor kaine, historically ifou go back to the beginning of the last century, 5 1/2 seats lost in the senate by the party that controls the white house. start with you, is the 60 vote supermajority the democrats gone after november? >> it's gone. it's toast. over. >> we're going to hold strong majorities in both houses. i agree with what chairman steele said, the repubcans cannot take the house back. >> we will but can we keep it? >> chris: you're saying the republicans can take back the house? >> we're well on our way. we already had the congressman from alabama. y'all come, there is more room. come to the table. come to the table. >> i agree they're not going to take it back because they're not ready to lead. >> we're more than ready. >> chris: gentlemen, please come back. there is plenty to talk about and we'll track it through november. chairman steele, governor kaine. thank you. up next, we talk about ho the president plans to close the security gap aft

let me offer several examples. may for individuals in new york, some of whom met and were radicalized in prison were arrested for plotting to blow up jewish synagogues into shoot down planes. in july, a group of heavily armed extremists in north carolina were arrested to wage jihad's overseas after training terrorist camps. in september, on the eve of september 11th, the colorado resident was the vested in new york for planning to set up a bomb after having received detailed bondage instructions from pakistan. that same month, to self radicalized loaners one in springfield illinois and one in dallas, texas, were arrested for attempting to bomb a federal courthouse in a downtown office tower in those respective cities. a chicago resident was arrested for his role in planning a terrorist attack in denmark and assisting in the deadly 2008 mumbai attacks. and of course, the killing of a young army recruiter in arkansas in may and the tragic shootings at fort hood in november are examples were blown extremists have stru

let me pose a hypothetical. us say a candidate ran on plumbing a concealed handgun law -- on allowing a concealed handgun law. is this a bad candidate for us? the employees of handgun to think have to say it is illegal to say anything about this candidate? it is incorporated. but i happen to work there, so this is what i think. of course, that makes no sense. this would be enormously valuable in determining who our leadership should be host. host: we are going to come back to this. let's go to some phone calls. caller: i had a problem with these gentlemen. i think it is disingenuous. under no circumstances is a corporation a person. to claim otherwise -- how can you look at yourself in the mirror? this is simply another step toward the right. you have people being disenfranchised by big money, big pharma, and look at the result. the middle-class has been destroyed this will exacerbate the issue and it needs to be addressed. to claim otherwise the funds logic and you are insulting our intelligence. host: we are go

let me look for -- let me look first of all at how a terrorist might get a bomb. and then i want to deal with the scenario which generally people seem to think is the most likely way to get a bomb. one way which is -- most annual listi ist -- analyst to be given a bomb. the first place -- bombs are very expensive and difficult to make. and given some of this precious cargo to a group you can't control, who might end up blowing it up in your own territories is not exactly very wise. furthermore, if you give the gift -- if you give the bomb to a terrorist, there's a good chance the bomb will be discovered before they set it off, obviously it will be discovered if they do set it off. and through policy -- process of nuclear forensics, it's very likely they'll be able to figure out where the bomb came from. so, therefore, you're on the spot. so the idea that a bomb would be given by a state, even a very flakish state is very remote unless they're just totally suicidal. a second technique would be to steal a bomb. bombs exist, loose nukes, this is frequently called. it

let me know. let me know. i'm eager to see it. here's what i ask congress, though, don't walk away from reform. not now. not when we are so close. let us find a way to come together and finish the job for the american people. >> larry: senator, what's your response to that challenge? >> well, if the president or the democrats had invited us over to sit down and seriously negotiate, they would have heard -- and i don't know how they missed it -- that we have many proposals ranging from medical malpractice reform, which there's none in the democratic proposal, to buying insurance across state lines to rewards for wellness and fitness to establishing risk pools for those with pre-existing conditions to encouraging health savings account. i can give you a long list of the proposals that we have that get at the issue of costs of health care. what the president and the democrats have proposed and has been rejected not only in massachusetts but around the country is a very big government takeover, and despite what the president said, add

with that, let me thank you again for being here. and let me turn over the mic to e.j. again for the introduction of other valued colleagues. [applause] >> thank you, melissa. and we are very honored with colleagues on this stage here as well as so many of the folks in the audience. charles haynes -- many of you are familiar with his work. he's senior scholar at the freedom forum first amendment center and he directs the religious liberty initiatives at the newseum in washington, d.c. he's best known for his work on first amendment conflicts in public schools over the past two decades he has been the principal organizer and drafter of consensus guidelines on religious liberty in american schools. personally, i think that is one of the most important documents anyone has produced in a long time on this subject 'cause it cleared a lot of ground to secure actual religious liberty in the schools. and to put aside some useless arguments, it was endorsed by a broad range of religious civil liberties and educational groups. he's the author and co-author of six books including

let me start with you, lou, simply because tell me the magnitude of trying to keep times square secureumbers? what are we talking about in task? >> well, in order to facilitate the security in this little area of manhattan, it requires a tremendous amount of resources is assets. and the form of manpower, which you'll see present here with the uniformed police department, new york city, as well as a number of undercovers, fbi agents, agents from the alcohol, tobacco and firearms explosive bureau, numerous, numerous law enforcement agencies, including our intelligence community. base wlak they do is they implement a plan where they create choke points that feed into this main area of times square and they screen people coming in. they prevent vehicular traffic through the implementation of barricades and just basically try to keep a handle on the pulse of what's go on here tonight. >> certainly they have done this a lot, for many years, including for many years post 9/11. would an incident like the one that happened on the plane over detroit change the game plan at all? >> i wouldn't nec

let me make a few comment about it. first of all, like a lot of merntion i'm not surprised but heartened and proud by the response of the american people. a tremendous outpouring of generosity. people in america from all walks of life recognized immediately that the people of haiti in the depths of an incalculable, indescribable horror and tragedy, in the depths of that the american people showed their generosity, they showed that they understand that our haitian brothers and sisters are just that; they're part of the family, the human family, and they are our brothers and sisters. the most vulnerable member of that family in most instances, maybe not in every instance in every family, but most of the time will be a child. and we're seeing unforgettable imagery in film -- video, i should say, of young children being rescued in heavmen haiti. surviving for days at a time in the rubble and in the horror that they've been living through. and thank goodness so many people have invested in ways to save those children. but wh

let me -- let me ask you, there's no way except the threat of real bankruptcy. and that if you're a bank and think you can negotiate at par and get a full percent and you don't have a threat of bankruptcy the question is, did anybody threaten them? did anybody say -- did we in effect yield the debate at the beginning, they played hard ball and we had no way to do it that if in effect you would have threatened to say, we can cover the insurance people but the finance side over there you better negotiate down and that side will go bankrupt. banwould have had to put cash ng system so cover the fact the bankruptcy gone out. in other words, had they gone bankrupt and there was a catastrophic effect, which i believe, because i voted for t.a.r.p., a catastrophic threat, wouldn't you have had to put more money in the banking system but not necessarily at par? >> as i said, congressman, i didn't -- i wasn't involved in that so i can't -- >> you're saying the new york fed did that? >> i can't comment beyond what i said. >> at some -- when you got involved, once t.a.r.p. w

>> let me do two things. let me give you some statistics, and they let me also respond maybe more directly. we obviously hear this all the time, the contention from chairman dugan at the occ that this wasn't a problem with national banks. and in fact, national banks funded 21 or 25 largest subprime issuers that were doing business that led up to the crisis. and it was national banks and federal threats and other of their subsidiaries that were responsible for almost 32 percent of subprime mortgage loans, 41 percent of the alt-a love, and 51 percent of the payout option in interest only arms that were sold. and that's for 2006. i believe that information comes from, i will find out where comes on for you. and so yes it's been recognized that some states, there are very few resources, and so while enforcement actions are taking place, and, they are a drop in the bucket in terms of the entire problem. but that doesn't mean enforcement actions were not taking place. when i looked across the country, we see that e

let me also commend you.a point i raised but you're aware of it's a citizen, and that is, an issue that hasn't gotten that much attention publically. one of the centerpieces of the bill moving through the senate is a mandate that every american purchase healthcare insurance which is unprecedented american history and i believe it is unconstitutional. and would be immediately challenge thissed the federal courts in the president were to sign this bill into law. why do i think that? it is because of simple notions that, this legislation would be the first time in american history that your federal government found that it had the power to order you to enter into a contract for goods and services. people would be quick to say, wait a minute they've to purchase health insurance if i have a car. right. but federal government doesn't require you to buy a car, yet. we are in the car business now - so [laughs] don't give them any ideas. but they don't require you to buy a car if you get a car you have an obligation t

let me ask you. in the current market today, things are swirling -- >> let's move on. >> i think these are important mat terms. i think this is one of the most critical questions revolving around here. >> then i have a question to follow up on this. >> no, i understand. we are sitting here today, with people commenting in the press, jean, the equity market is being driven by more bubbles, because of the liquidity end. others are saying the equity market is right and we're in the recovery. no one really knows yet people are coming to us as a market maker. i want exposure to the equity market. i don't want exposure to the equity market. we are dealing. we have to make sure the products do what the products say, that they're honest, that they're disclosure and there are laws. but we are dealing, we are an institutional firm and this is the highest part of the institutional market. even today, by the way, people are coming to us for exposure to these very instruments. not at 100 cents on the dollar, but

let me show it to viewers.so show you opposing views this morning written by your colleague, who says that this argument is pure science fiction. he says this, that first of the case, contributing allowing expenditures in state races, but none of these states want the corporate opinion in spending. >> this is decent for those who do not think there is enough spending in our politics. but take exxonmobil. in 2008, it had profits of $85 billion. now, if it decided to spend 10% of that money, $8.5 billion, to get the energy policies it wants of government, that woe moreÑi than the obama campaign, the mccain campaign, and every candidate throughout the senate in 2008. that is one company. nothing about the fortune 500, or the fortune 100, with 6 billion in profits that year. we're talking about the ñ+?l democracy. we clearly need a constitutional amendment to declare that a corporation is what the supreme court always said it wasn't until yesterday, a creature of the state legislatorçó -- what e supreme court said

let me -- plea let me share wit, mr. president -- this is an e-mail back -- this is from the state department. now, get this: "thank you for your e-mail. we will provide information about your u.s. citizen constituent to the u.s. embassy in port-au-prince as quickly as possible." that's a standardized e-mail. that doesn't say anything. it doesn't give specifics. and i know they roll these things out, but don't send that kind of e-mail to me to try to placate me, because it doesn't. i want action. now, i want to give you another example, and senator levin of michigan is making a plea -- and he's called us -- when he found out i was going to haiti. senator levin's office, they have a haitian who is in michigan, a dad. he's there legally. he's not a naturalized citizen, but he's there legally. and his daughter is critically injured. and i want to -- i want to read you this. this is addressed to me, and it's about getting this daughter airi-vacked out of haiti because she had critical injuries. "mr. nelson: due to the fact t

richard, let me begin with you. the former head of the 9/11 commission, governor kaine is basically laying the blame this morning at the president, not just because he runs the executive branch, but accuses him of being distracted. do you agree? >> far be it for me to disagree with tom kaine. i agree with him about 99% of the time. here i think he's been a little too harsh. the president doesn't oversee the day today workings of the intelligence community. but here when it appeared obvious that there has been a failure, he immediately responded, i think quite appropriately saying it was unacceptable. that he intended to get to the bottom of it, find out the specifics of what went wrong and hold people accountable and make the changes that are necessary. and i think that's quite appropriate. >> fran, you sat in the white house. you would have been involved in some of the discussions that would have led up to a christmas holiday. one of the things i keep hearing is the reporting is focusing a lot on whether the cia an

with that let me thank you again for being here and let me turn over the mic to e.j. for the introduction of other valient colleagues. [applause] >> thank you melissa and we are very honored with the colleagues on this stage today as well as so many of the folks in the audience. charles haynes, many of you are familiar with his work. the senior scholar at the freedom forum first amendment center and he directs the religious liberty initiatives at the museum in washington d.c.. he is best known for its work on first amendment conflicts in public schools over the past two decades. he has been a principle organizer in drafter of consensus guidelines, religious liberty in american schools. personally i think that is one of the most important documents anyone has produced in a long time on the subject because it cleared a lot of ground to secure actual religious liberty in the schools and to put aside some useless arguments it was endorsed by a broad range of religious civil liberties and educational. he is the offering co-author of six books including a documentary histor

let me say this. one of the things i did not get into line mentioned in my her earmarks the issue one of the things we document carefully is domestic debt and domestic crises. china is a country with capital control in place that have teeth and i don't just mean capital control people circumvent but people have teeth, which means the currency for example is not convertible. you can't trade like you can trade of the yen or the euro or mexican peso. you can't treat it. that doesn't -- that protection from having an external debt crisis, don't have much external debt to begin with. the of create a massive amount of domestic debt trying to stimulate a the economy during this. receive prizes right now are booming in china and it is very much fuelled by a domestic, government induced domestic credit expansion. not all bilmes indian who hears. but i don't see any reason to sing her victory at this particular conjuncture but i just wanted to make the distinction you could of a full-fledged domestic crisis. >>

let me follow-up, then. federal reserve's disclosure decision with respect to counterparty claims after your nomination as treasury secretary? in other words, have you ever participated or questioned or stayed involved with that? >> no, i did not. >> well, from what we were given by the fed, can we put up slide one. this e-mail from you says -- to william dudley, your replacement, on march of 2009, and it -- where's the line to read here? okay. it's easier to read on the screen. where are you on the aig counterparty disclosure issue? long after you left, you made this e-mail. what was it about and what was the answer? >> well, congressman, as you know, this question of disclosure was the subject of huge amount of controversy. and most people -- >> you think? >> yeah. that's what my son says, and ai glee with you. most people feel, as you do, they said, why shouldn't it be disclosed? and as you know, in march, which i think, if i'm not mistaken -- >> march 15th. >> the time of this e-mail -- it had been subje

let me put it that way. and yet, we look back, you know, i know senator warner and i have spent a lot of time on the resolution issue. and the problem that occurs with a resolution which you are dealing with at the time of year ago, was the fact that commercial bank inside a highly complex bank holding company is very hard to sort of take out. and yet, the 23 a and b. regulations, which basically say that a bank deposit cannot be used, that depositors money cannot be used to engage in other things with their affiliates that might pose risk. there's also been some statements made that maybe you listen that activity over the last year or so, a couple of years. and the fact is that bank deposits have been used more aggressively with affiliates than they had in the past. and the reason it's important, it's important to know, number one, but it's also important as we look at resolution, if banks are doing this, and they are highly involved with other entities, it's difficult to unwind one of these organizations.

let me -- let me ask you, there's no way except the threat of real bankruptcy. and that if you're a bank and think you can negotiate at par and get a full percent and you don't have a threat of bankruptcy the question is, did anybody threaten them? did anybody say -- did we in effect yield the debate at the beginning, they played hard ball and we had no way to do it that if in effect you would have threatened to say, we can cover the insurance people but the finance side over there you better negotiate down and that side will go bankrupt. you would have had to put cash reserves into the banking system so cover the fact the bankruptcy gone out. in other words, had they gone bankrupt and there was a catastrophic effect, which i believe, because i voted for t.a.r.p., a catastrophic threat, wouldn't you have had to put more money in the banking system but not necessarily at par? >> as i said, congressman, i didn't -- i wasn't involved in that so i can't -- >> you're saying the new york fed did that? >> i can't comment beyond what i said. >> at some -- when you got i

as i've said before, let me underscore again, there is a war aspect to this. there is a law enforcement aspect, but we really failed it seems to me in the bush administration, and the obama administration is focusing on the hearts and minds struggle that we got engaged in. we certainly can because we can't kill and capture every terrorist, as rumsfeld of all people famously acknowledged in a memo, we have to get smarter about how it is that we can counter the narrative. and we certainly can engage in security measures that perversely create more terrorists. so it seems to me we've got to come up with a balance, just close my eyes saying that george, the cold war strategist was so right at the end of that long saying, they ultimately don't weigh the united states in particular united states and western was defeated would be to pursue a time in his in a way that is contrary to our own eyes, to become like the. the same is true for us here. i think it is impossible for us to an balance security and liberty. just quickly, i have in my own mind and calculus i go thr

with that, let me thank you again for being here and let me turn over the microphone to e.j. again for the introduction of the other valued colleagues. [applause] >> thank you, melissa, and we are very honored with colleagues on this as well as many of the folks in the audience. charles haynes, many are you familiar with his work. he is senior scholar at the freedom forum first amendment center and he directs the religious liberty initiatives at the museum in washington d.c.. he is best known for his work on first amendment complex in public-school over the past two decades, he has been the principal organizer and drafter a consensus guidelines on religious liberty in american schools. personally i think that's one of the most important documents and you and has produced a long time on the subject because he clears a lot of way, a lot of ground to secure actual religious liberty in the schools. and to put aside and useless argument that it was endorsed by a broad what range of educational groups. he's the author and co-author of six books including first freedoms, documentary

let me give you some numbers. if you take consumption in all the countries that ahead of this crisis have been running large current account deficits and are now experiencing increases in savings rate that are quite large, too, these economies comprise like the u.s. and, you know, the u.s., the u.k., the islands, portugal island, greece, spain, all eastern european economies, you take consumption out of them and then put it in relation to the consumption of china. consumption of china is one-third. so china alone cannot do the whole adjustment. consumption there is still too small even though it is growing very rapidly. so it does make a difference for the u.s. economy, but it cannot poll the u.s. and all -- pull the u.s. and these other countries out of recession. that's the way we see it. >> [question inaudible] >> one of which i think you could argue is a mixed blessing, which is the provision of debt capital into the economy. you know, over recent years. obviously the emerging markets have been the major buyer

let me ask you straight up. do you have confidence that the secretary of the department of homeland security is up for the job? can do this job? >> i do. but i will say that her initial comments were bizarre and inappropriate. it baffled me that she said the system worked very, very smoothly when clearly it did not. it also surprised me when she implied that there was not information to indicate that this individual posed a threat when there was information. nevertheless, i believe that secretary napolitano is working very hard and that she will cooperate with our efforts to ensure that these eaches in our defenses cannot happen again. >> is she is right person for the job? >> she is. she came to the job with tremendous experience. federal prosecutor, state attorney general. i agree with senator collins. some of the choice of words last sunday were subject to misunderstanding. they have been badly misunderstood. senator collins and i are beginning a series of hearings when congress comes back not just to look at

let me move on. i know we're looking at and the president's proposed too big to fail sort of strategies to try and address the issue of too big to fail. where are you in this debate? what do you think about the proposal that's on the table right now, sir? >> when i was secretary of the treasury, i put out a regulatory blueprint, and i still believe that that is the way to go. i am very, i think it's essential that we have winddown authorities, resolution authorities so that any financial organization no matter how big can be lick liquidated outside of the bankruptcy process without taking down the rest of the economy. and so i think that is essential, and there are, there are some parts of the, of the proposals that are up here being debated by congress which are the same as in the regulatory blueprint we put forward. a big one being the systemic risk regulator, and i'm strongly in favor of a systemic risk regulator. >> do you believe we need to take the risk investments that are part of some, many o

let me see if i can find out. i'll have one of my staff get your card, and maybe we can provide you some information. >> thank you very much. >> here's the broader point, though. the story of retraining has become so important. when i went to e.m.c., the precision tool-making place, there were a group of guys -- and one guy who said i should call him "jerry the mechanic. he shakes my hand, and he and his buddy are talking to me. i said, "how long have you been working here? they said, "twenty years. and i'd noticed that a lot of the equipment now is all digital and fancy, compared to the old machines on the other side of the building. i said, "well, did you guys have to get additional training for this? and they said, "well, you know what happened was, we used to work in this old plant, and we got laid off. we came here to lorain community college and took a six-month, 12-hour-a-day course that completely retrained us, and that's what got us these new jobs, and we've been working for over a decade now at these new

let me finish. >> [inaudible] >> let me finish. we have been negotiating with leadership on this issue. i told you monday night. i expect when i go back monday we will talk some more. i hope to get it worked out. if this public funding for abortion, if we change current policy, i will read the bill, make sure if that is the last issue, i probably will not vote for. but i am not going to -- we're still negotiating. you do not play all your cards at the table when you are negotiating. this is an issue that we have the only clean vote on and the majority of american people do not want it. i would be hard-pressed to vote for something that has public funding for abortion. everyone always says no tax increase. i do not do this. let's read the legislation and see what it says. my record is clear on right-to- life issues. i am solid on that issue. >> i don't agree with the way the bill is structured. mandating people to have health insurance. there are no exceptions for va. [inaudible] why don't you take that money and reinvest it in medi

i will get to that in a second, but first, let me go on two stories. one, tell me -- i mean, i think this must have been a hard decision. maybe it wasn't for you. when you were selling one of your companies to shell, and the attorneys got involved, and you had a deal, what was it, $150 million or something like that? will you tell this story? do you know what i'm talking about? >> sure. glenn: tell that story r. >> i believe you're referring to back in 1985, when i sold 40% of my company to great lakes chemical, and i shook the man's hand and we had a deal for $54 million. to me, it was done. it was over with. it was completed. the attorneys took their time. it took six months before the attorneys got all of the legal documents. i believe this is the story you had in mind. glenn: yeah, it is. >> it took them about six months, and during that time, our profits went up, our sales escalated. the economy turned around and our business was worth five times around in six months, and so they came to me, our attorneys and said this business is worth $250 milli

i don't know. >> let me jump in. i am shocked you begin to realize that mike 10 member board will seriously begin after enactment to debate whether we should have our own status as the penalties for of mcc. etc. on top of an addition to the federal one. that's how states think of the way they do things. even if there is a lot of goodwill in a federal piece of legislation. >> was in cc stand for. >> minimal credible coverage. we have our own in massachusetts. and i have just begun to realize how difficult that set of conversation is going to be with our governor, legislators and my own board, about do we see that to the federal standard or do we overlay hours on top of the federal standard? after all, it's a revenue source for our state treasury right now. >> go right ahead pic. >> matthew governor. i have to question. the first you mentioned that undocumented workers wouldn't be allowed to purchase an exchange under the senator. could you talk more about what options might be available to them if they want to go for

let me repeat. person who is fiscally responsible, a person who has cut more money out of the kansas budget than any kansan in history, now is the time to stop cutting tied education and aid to public safety and aid to our elderly and disabled. [applause] thank you. here is my plan to do it. we need to raise two taxes. first, we need raise the cigarette and tobacco tax from 79 cents a pack to the national average of $1.34. this will not only raise additional revenue, it will also reduce teen smoking. and second, for a temporary period of 36 months we need to raise the state sales tax by one cent. this 36 months will allow us to fund our programs at minimally acceptable levels while we work our way out of this recession and then at the end of 36 months i propose with roll it back and keep just 2/10 of one cent. this is by no means a big spending budget. most agencies would still be forced to live under the dramatically reduced budgets but we would be able to make some honest enhancements and be able

let me tell you how much progress. you lost in the last three months of your economic program 2,000,000,019 jobs. the last quarter we lost 208,000 jobs. a quarter, three months. that's way too many jobs. we want to be creating. as the clinton administration did on average 220,000-plus jobs per month. 22 million in total over eight years. so i tell my friend that when the gentleman says we haven't had progress on this, those figures in my view belie that assertion. in fact, we've made progress. not only that, the stock market is up 60%. had a couple of bad days, it's up 60% since we adopted the recovery and reinvestment act. it had a minus growth under your economic policies during the eight years of the bush administration, minus to the extent it decreased in value so that the investment i had in 2001 was about 26% less valuable in december of 2008. contrast that to the clinton administration in its eight years, the value of your stock portfolio or investments went up 226%. that's a 250% difference. so i tell my friend

let me say this.d the question of numbers yet. >> of the numbers of officers that are being referred to -- >> raoeufplt >> can you give an estimate of how many you came across? >> what is the difference between that question and the one i answered? i stepped across the line, i'm stepping back. >> are we talking three, dozens? is it a systemic problem? >> the report says several. >> maybe three? >> several. haste to give the secretary part -- the secondmyçç part. >> with regard to vulnerabilities today, i thought secretary gates addressed it directly. this is not a threat that somebody thinks is massive and is overwhelming the force. but one is too many. his language this morning suggested so much has changed in the last decade. as i look at this and i look at everything that is going on in the area of security and the issues that "face the nation," i believe that this is another one of thoseç key moments in time where we assess ourselves again. we take advantage of this experience and ensure by hav

let me pick up on bill's point. question about 2010 is whether it will be more like 1982 or more like 1994. in each case the incumbent party lost seats. the difference between 1982 where ronald reagan was the president is that it was not a personal repudiation. 1994 was much more a referendum about bill clinton. my sense is that 19 -- is that will be much more about the congressional party and how the house leadership has done. then on barack obama. host: you talked to some of your focus group participants on the. first we will go to dean from kentucky on the republican line. caller: good morning. a quick comment about the administration. i personally feel this is one of the most evil administration's our country has ever seen in possibly ever will. we have obamaism and his czar comrades and tried to take away our freedoms, change the constitution. he sets the tone whenever he lifted the ban on supporting dollars being used to kill babies in foreign countries. that is nothing but the most evil, hideous act i believe

let me be clear. we are not here to try and coordinate and address issues related to the short-term disaster, relief and recovery. there are many agencies already doing great work, and here, i know many of you have already generously contributed. i would also like to mention that many of those who have done such great work at a very short notice and have engaged personally in a very deep way into the help for haiti are sitting here in this room. and i would single out particularly the former prime minister of haiti, who has come all the way from haiti just to be here today, together with us. please, let's particularly recognize the work and the presence, not only of her, but of all those ngo's people in the room who have done a fantastic work. [applause] i would like to introduce someone who has become a real friend of the world economic forum and whom we owe a lot. william jefferson clinton, the president of the united states from 1993 to 2001, and i will never forget, on the education of our 30th --

[cheers and applause] let me just say in conclusion, first of all, thank you from the bottom of me and hearts for your continued support. i'm nobody's senator. i am nobody's senator except yours. thank you! [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> ♪ i got a feeling that tonight's going to be a good night tonight's going to be a good, good night a feeling that tonight's going to be a good night that tonight's going to be a good night that tonight's going to be a good, good night a feeling whoo-hoo that tonight's going to be a good night that tonight's going to be a good night that tonight's going to be a good, good night a feeling tonight's the night let's live it up i got my money let's spend it up go out and smash it jump off that sofa let's kick it i know we'll have a ball so get down and go out and just duke it up i feel dressed i want to let go it's the way i'm losing control just fill up my car maz hlook at us dancing just take it let's take it down we'll shut it down get on the roof and we'll do it again ♪

i thought he might mention marriage so let me say this to him. the difference between me and the prime minister is this. when i lean across and say, i love you, darling, i really mean it. [laughter] >> the only -- the only divorce that's taken place is between this prime minister and reality. let's take his claim -- let's take his claim that spending is going up by not .8%. is the only way he's able to make that is to include -- is to exclude capital spending which he's actually cutting in half. isn't that completely disingenuous? >> for himw6 to talk about lov and marriage today, when he is a person who cannot give a straight answer on the marriage couple's allowance. whether you got to say i do or i don't when it comes to the marriage couple's allowance. and mr. speaker, as for other public -- as for the public, will he give us is straight answer now. is he deficit reduction plan including 4.9 billion to be spent on the married couple's allowance and a tax not going ahead with the national insurance rise, that's why everybody says there's a 34

they're in far more countries than that today. >> well, let me play for you, something. i asked john brennan if al qaeda in fact was diminished? or more sophisticated. let's hear what he had to say. then you can respond. >> we have made quite a bit of progress this year in degrading the capabilities of al qaeda organization. taken the battle to them. eliminated a number of their leaders and operatives that doesn't mean they don't have capability to carry out attacks. that's what they're doing. they're trying to look for ways and vulnerabilities to get their operatives to the united states or other places to carry out the attacks. >> mr. brennan is blowing smoke. you have some dead bodies. i agree, all to the good. but no impact on the overall organization. >> so you don't think that it is at all diminished? >> no, as i said, i think it is stronger than it was at 9/11. certainly because the support and opposition across the muslim world to american foreign policy is far greater today than it was in 9/11. >> our plan right now is to double our aid to yemen which is still no

let me be clear here. the recovery act was cutting taxes for 95% of working families, 15 different tax cuts for working families, seven different tax cuts for small businesses so they can start up and grow and hire. the recovery act was extending an increasing unemployment insurance and making cobra available at a cheaper rate for people that lost their job so they can keep their health care. [applause] we gave aid directly to states to help them through tough times. they can testify the help that it provided to the ohio budget so we didn't have to lay off teachers and firefighters and police officers all across this state. and we made the largest investment in infrastructure since the creation of the interstate highway system, putting americans to work rebuilding our roads, bridges, waterways, doing the work in america that needs to be done. now, today because we took those actions, the worst of this economic storm has passed. but families like your and communities like this one are still reeling from the

let me give you an example. i think one of the proposals that have been focused on by the republicans as a way to reduce costs is allowing insurance companies to sell across state lines. we actually include that as part of our approach. the caveat is, we have got to do so with the minimum standards, because otherwise what happens is that you could have insurance companies circumvent a whole bunch of state regulations about basic benefits or what have you, making sure that a woman is able to get mammograms as part of preventive care, for example. part of what could happen is insurance companies could go into states and cherry pick and just get those who are healthiest and leave those behind or least healthy, which would raise everybody's premiums to were not healthy, right? -- who were not healthy, right? so it is not that many of these ideas are not workable, but we have to refine them to make sure that they do not and a worsening the situation for folks rather than making it better. what i said at the state of

let me be clear. we are not here to try and to coordinate issues related to the short-term disaster relief and recovery. there are many agencies already doing great work and here i know many of you have already generously contributed to that end. i would also like to mention that many of those who have done such great work at the very short notice and have engaged personally in a very deep way into the help for haiti are sitting here in this room and i would single out particularly the former minister of haiti who has come all the way from haiti just to be here today together with us. please let's particularly recognize the work and presence not only of her but of all those n.g.o. people here in the room who have done fantastic work. [applause] i would like to introduce someone who has become a real friend of the world economic forum and who we owe a lot. william jefferson clinton, the president of the united states from 1993 to 2001. i will not forget, never forget on the occasion of our 30th anniver

but by way of biography let me tell you a couple of things about paul.ive you some insight as to why this book was important to him and why these themes are important. paul, who's romanian by birth, was a victim of centralized planning and communism in europe. and he brought about market reforms in post-communist europe in part because of his own personal background and his innate curiosity. he's dedicated much of his personal life to understand the role of intellectual politics. he's co-author -- a number of important books, a volume on international development, a volume on neoliberalism and post-cold war in europe and the impact of eleanor osttrum and vince osttrum his political advisors at indiana university and a volume of prophesies of doom and scenarios progress.w3+ which is an important book that appeared a couple of years ago which i recommend to everyone which looks at kahn's views of economic progress. and it was really -- it was a privilege to collaborate with paul. and we -- obviously, he is missed here today along with a number of others. b

> stuart: let me interrupt. the money we have been spending in 2009 was bow rorred money. the government spent it and it was, it was borrowed. we're deeply in debt. it has to be repaid. already, because of the amount we're borrowing, the interest rates are rising. it's going to have an impact on the economy and market. >> it has. we're back in a growth mode. since the depression -- >> [ overtalk ] >> my interest rate has risen half a percent on long-term bonds. the short-term rate has not risen at all -- >> but the value of the dollar, you know. >> you asked a question. what wealth had we created? we created about $200 billion in new wealth. if you look at the growth in the third quarter of the u.s. economy. and if you take that, my total output, which equals the total income is it's accounting identity. that is the wealth that was created as a result of cash for clunkers, stimulus in the housing market and all the other programs that you don't like. we would not have had the wealth. we have negative, loss of we

let me stop there, and -- [applause] >> thanks, peter. for an interesting presentation. nd now we'll get to our third speaker, chuck, who is a senior fellow here at the institute. >> good afternoon. ivan hasn't given me a time limit, but since i know i can between you and to important things, first question, and the second, lunch that i would do it best to keep my remarks relatively brief. peter, to address the first part of your remarks, i am a californcalifornia by birthright, northern california specifically. you talk about how people identify. i also want to congratulate ivan for being pretty first getting this particular event or can i talk about this maybe six weeks or so ago. and who would know that it would happen the week after president obama decided to make a speech about ramping up troops in afghanistan. the title of today's event is, can we withdraw from iraq and afghanistan? i'm going to focus my remarks mosey about afghanistan, but i would say 80 to 90 percent of what i have to say you could probably just transfer over wholesale to iraq. i thought it was in

let me pose a hypothetical. let us say a candidate ran on plumbing a concealed handgun law -- on allowing a concealed handgun law. is this a bad candidate for us? the employees of handgun to think have to say it is illegal to say anything about this candidate? it is incorporated. but i happen to work there, so this is what i think. of course, that makes no sense. this would be enormously valuable in determining who our leadership should be host. host: we are going to come back to this. let's go to some phone calls. caller: i had a problem with these gentlemen. i think it is disingenuous. under no circumstances is a corporation a person. to claim otherwise -- how can you look at yourself in the mirror? this is simply another step toward the right. you have people being disenfranchised by big money, big pharma, and look at the result. the middle-class has been destroyed this will exacerbate the issue and it needs to be addressed. to claim otherwise the funds logic and you are insulting our intelligence. host: we ar

let me give you an example.ne proposal that has been focused on by the republicans is a way to reduce costs by allowing insurance companies to sell across state lines. we actually include that as part of our approach. but the caveat is, we have to do so with minimum standards because otherwise what happens is that you could have insurance companies circumvent a whole bunch of state regulations about basic benefits or what have you, making sure that a woman is able to get mammograms as part of preventive care, for example. part of what could happen is that insurance companies could go into states and cherry pick and get those who are healthiest and leave behind those who are least healthy which would raise everybody's premiums who were not healthy. it is not that many of these ideas are not workable but we have to refine them to make sure they do not end up worsening the situation for folks rather than making it better. what i said at

let me back up.here have been some names thrown out today, and i do not know if you know them, but i want you to take their names with you. when you talk about david abernathy, the right hand man of dr. king -- just focus on these names. when you hear about karen mitchell, the former congressman from maryland -- did he pass recently? look up perrin mitchell. i am in the district of columbia. i do not know how many of you live here, go to school here, but when dr. scott talked about the states that supported the king holiday, as well as the district, we were one of the first areas to create the holiday. reverend fauntroy was one of our first leaders. i am sure you have heard congresswoman eleanor holmes norton. so because of all that, that is what the district was so involved in all that happened, to make sure the king holiday became a reality. council member wilhelmina remarque represented ward 8. how many of you have heard about that? it is what i would call the harlem of new york, the south- centra