is bound to patel? >> i do not think there is any question that holding -- that withholding contributions to the system has been effective in getting some small reforms. i think the problem is that it has not been effective enough. the argument that we are required to pay what has been assessed by the majority of the united nations, i think, is an argument that ultimately means that we have agreed to an international taxation. i do not think that is what we agreed to when ratifying the charter. i do not think that is really what the whole mechanism for funding of the united nations was really intended to do. the right now, under the helms- biden legislation, we pay 22% of the contributions for most united nations agencies. let us say that the overthrow of saddam hussein had outraged the membership and they decided to show the disapproval of this action by, for one fiscal year, making the u.s. share of the un budget 99%. would we be obligated by treaty to pay a 99%? i think, just like joe biden, they wou

i'm sure doug patel is a lot more about it. >> i will await the tutorial. >> i just want to follow-upon that point. i can make it later but i just want to add to what commissioner hennessey said. which is that in addition to the dollars that were lost, there also were and are significant investments in both the preferred securities, which mr. lockhart has told us a few things may be never be worth anything, that the treasury has purchased 75.2 billion of fannie preferred stock. and in addition, the federal reserve has been purchasing mortgage-backed securities and has purchased 1.0 to 6 trillion of fannie and freddie mbs and treasuries purchased 254 billion of mortgage-backed securities. of course, hoping that they won't reduce in value, but certainly there is a service question whether they will. >> they are backed by that preferred stock effectively, so if there's further losses the u.s. government is effectively backing those mortgage-backed securities. but they have put another one and half trillion dollars to help solve this problem. it's just amazing how bad it got. >> go to mr.

. >> let's hop over to saijal patel next to me and talk about what the rest of asia is doing. saijal. >> a pretty negative picture there. we still have worries about greece and worries perhaps interest rates could go up in the u.s. that prompted profit taking here. now, the exception was south korea's kospi. we saw a good rally in the tech stocks, soes that is where the support came from. japan with on the other hand, the nikkei 225 falling 1%. the stronger yen continuing to be a sell-off in this market. this was a bit of a surprise, so that has worked the sell-off in some of those machinery stocks. i want to mention the fct in thailand, still trading down 0.6% right now as we see the political tension worsen there. the economy so far has been holding up. s&p analysts saying that the immunity for the political situation no longer holds true and, of course, today, you saw a lot of money coming out of that market, christine. >> and here in asia, what is the latest in the saga? >> they upped the offer by about 8%, or peabody did to $3.3 billion. macarthur is rejecting that offer.

rick patel. the co-founder and executive director of abaz.org and he is working closely with our global zero initiative to focus on international political activities. next to ricken is mr. lawrence fender. well known figure at least but certainly not only in hollywood. he is a co-founder of global zero. co-founder of a band of heart productions. a well-known producer of many well-known movies but right now we're focusing on the film "countdown to zero" which we showed to an audience last night here in washington, d.c. in fact, i see that david corn, who is with us this morning, attended that screening. next to lawrence is mr. jeff skoal. he is the founder and chairman of participant media. they were deeply involved in the production of "countdown to zero" but he is of course, very successful entrepreneur and supporter of important social activities and movements beyond global zero. we have one of our key leaders of global zero directly to my right, her majesty, queen noor who'll be speaking on o

today we talked to riya patel of vermont. riya, thank you for talking to us today.w are you? >> i'm good. thank you. the name of your document is "the land of opportunity quotee? >> we are making a list of challenges and strengths about the country and we thought in hard times like this there are so many challenges we are facing so why don't we look on the bright side of things and doing a documentary on the strength of the country and we looked at a list of the country's strengths and they all seemed to fall into the same category of opportunity to read and we also heard the name the land of opportunity before so we decided the would be the title of the video. >> what type of opportunities do you think the united states has to offer? >> it has a lot of great opportunities and as we mentioned in the video there is freedom of rights, no cultural or religious restriction, safety, stable government, law, education, jobs and a lot more and true freedom, anybody and everybody is given an education and you can practice any religion and proceed your goals without be discri

i'm sure doug patel is a lot more about it. >> i will await the tutorial. >> i just want to follow-upon that point. i can make it later but i just want to add to what commissioner hennessey said. which is that in addition to the dollars that were lost, there also were and are significant investments in both the preferred securities, which mr. lockhart has told us a few things may be never be worth anything, that the treasury has purchased 75.2 billion of fannie preferred stock. and in addition, the federal reserve has been purchasing mortgage-backed securities and has purchased 1.0 to 6 trillion of fannie and freddie mbs and treasuries purchased 254 billion of mortgage-backed securities. of course, hoping that they won't reduce in value, but certainly there is a service question whether they will. >> they are backed by that preferred stock effectively, so if there's further losses the u.s. government is effectively backing those mortgage-backed securities. but they have put another one and half trillion dollars to help solve this problem. it's just amazing how bad it got. >> go to mr.