in more layman's terms, you're talking about lending money to the u.s. government, correct? >> well, not exactlyecause we are buying these securities on the secondary market so somebody's already lent the money directly but yes, we are holding government debt. >> my point exactly. section 14 of the federal reserve act legally pvents you from -- this woulday from buying newly issued securities which in a more layman's term would be lending directly to the u.s. government. >> that's why we're not doing that. >> right. instead, what you do is others lend to the u.s. government and then you buy tir loans. >> we do that all the time. even in most normal conditions. >> correct. in modern times, the fed has always held treasury securities as part of normal operations but now under qe-2 it's a $600 billion commitment. but the crs goes on to say the effect of the fed's purchase of treasury securities on federal budget is similar to monetization, whether the fed buys securities on the secondary market or directly from treasury. when the fed holds treasury securities, treasury must pay

in more layman's terms, you're talking about lending money to the u.s. government, correct? >> well, not exactly because we are buying the securities on the secondary market so somebody's already lent the money directly but yes, we are holdg government debt. >> my point exactly. section 14 of the federal rerve act legally prevents you from -- this would say from buying newly issued securities which in a more layman's term would be lending directly to the u.s. government. >> that's why we're not doing that. >> right. instead, what you do is others lend to the u.s. government and then you buy their loans. >> we do that all the time. even in mo normal conditions. >> correct. in modern times,the fed has always held treasury securities as part of normal operations but now under qe-2 it's a $600 billion commitment. but the crs goes on to say the effect of the fed's purchase of treasury securities on federal budget is similar to monetization, whether the fed buys securities on the secondary market or directly from treary. when the fed holds treasury securities, treasury must pay in

. >> in layman's terms, this is simply betting on the difference between one your interests -- interest rates and 10-year interest rates. the interest rates could increase or decrease, meaning you could make money or lose money betting on that. these are advances on interest- rate changes, which can be very unpredictable. >> the judge highlighted conflict of interest, saying deutsche bank was liged to gud the customer's interest alone, whereas here, a loss to the customer worked to the bank's advantage. many banks sold their customers similar products. >> iraq but now of tuesday's trading action. -- a wrap up now of tuesday's trading action. >> a day of confidence was followed by a day of caution and reluctance. more and more companies are worried abt the tuation in japan. many industries depend on the problems there. investors have been worried and shares plunged. more could come from the supply problems in japan than previously thought. >> also under pressure, the bureau has retreated today from its 4.5 month high against the dollar. time to take a look at the numbers. jermaine's blue

i have learned a lot as a layman, as an actor hanging around these amazing scientists and lawyers and policy people. i wanted to share what i have learned because it feels like we are at 18. with the oceans. -- at a tipping point with the oceans. tavis: you have learned a lot, but have you seen a lot of change with this issue? >> shourd, but what we are dealing with is so vast and global that it does need to be energized and kicked into high gear. basically, what is going on is that we are overfishing. that is the biggest danger. there are a lot of things that are going on with the oceans that are threatening. the biggest danger is that we are overfishing. we really could over -- out fish are oceans in the next 40, 50, 60 years. one of the great scientist that is in this book, dr. daniel polley, a friend of mine, he discovered in 2002 that in 1988 for the first time ever, fish catch around a world was going down. every year, for the first time in history we catch fewer and fewer fish with more and more sophisticated boat's going out to try to find them. nine out of 10 of the fish that

in the population just in layman's terms what are these effects a cancer comes to mind what are the effects of very high levels of radiation. there is there's an increased risk here if there's increased risk just order. there's a variety of types of characters and even exposures to radiation there's certainly more risk not meaningful action or an epidemiologist i really couldn't describe it in more detail so i don't want to misrepresent them but i know that radiation exposure to. increase that of the cancer immune disorders ok well thank you very much for giving us your opinion or insight on what is currently unfolding of dr robert a research associate professor of nuclear history and culture at hiroshima peace institute thank you very much for. just giving you again breaking news at this hour at least four people have been injured following a reported explosion near the fukushima daiichi power plant in japan this has been a new information the latest we're getting is that japan's chief cabinet secretary says that people must evacuate within a ten kilometers power plant one in two because i

this fire again is if the infrastructure had not been maybe i could you just explain is sort of layman's terms how big a threat they are the shocks would be that all of you to hit japan over the next few days should people be worried is infrastructure at risk of being damaged again we're playing field. should people be worried about their homes for example. i think or certainly in the area of the event we're people are really very very did not end. up in that case japan is truly well prepared in the sense of emergency procedures and keeping people inside save billions for private homes i think. it's a problem with infrastructure. it's not if you get and how concerned should people be living in the wider pacific basin area we know that other areas where some of those alerts have now been reduced but looking for example to russia's. in the area should people there be concerned it's a difficult question because it's still a field of research if for example after a large across from the surrounding area is basically under more stress and it's the big man can in over the next years trigger la

the living trust has become a very popular document, and i say this as a layman and in no way is this a legal conclusion or a legal basis. what i like though about the concept of having an estate plan is control. some people have accused me of being a control freak and that's fine. i like to have control and i'm happy and i'm willing to admit it. when i have a trust, i don't own my assets. i give them to my trust. and guess who's in charge, me. me. and guess what happens if i get sick. i already have appointed who's in charge. and now what's best is when i'm incapacitated, which i was just recently through my operation, i was able to know that somebody had my back. that somebody was planning on my behalf so that they were doing my monthly meeting, they were doing my pounce systems, they had my alpha. that's easy. that's a monthly meeting. the trust, you could appoint the beneficiaries, you get to appoint who's in charge. now my beneficiaries may be different then yours. unless you want to put my name on your trust. but how they get it is where we need to make a conclusion. here's a ho

really is a layman's explanation of how our monetary system works, what our debt looks like, how regulations affect personal wealth and what really is true prosperity. i believe there's a perception on both sides of the aisle, you have the democrats' side that believes all of our problems are with businesses and on the republican side a belief that all of our problems are with government. what i try to show is our problem is a sort of corporatism where your big businesses are going to congress and asking them to pass all these regulations to keep little people off. the tea party is focusing more on minority outreach and it is interesting because one of my favorite rags to riches stories is the story of madam walker who was born on a plantation. 14 she was married, 17 she had a child, 17 she was a widow. what does a single woman today face that compares with her obstacles? in her lifetime she developed -- she built a mansion next to john rockefeller employing about 3,000 women nationwide and in the caribbean and she was personally responsible for the harlem renaissance. today would stand in t

and in layman's terms there are four key points how to divide $9 billion in revenue, expanding season from 16 games to 18, and benefits for retired players. and. >> there is going to get resolved in negotiations so talking about s.better than litigating. >> former cal bear is now a five-year tret vet tran. a back up player i asked him what he think an agreement might be reached. >> i think we'll probably get something done early april. interest tl is another extension to get something done. and fans turn their noses to it. we're in a recession. you're worried about this. and we're trying to figure out how to pay rent and mortgage. pay our child health care, whatever. you're fighting over extra bidding some wr. you don't want to turn fans off somewhere. >> and that is well said. troy murphy signed with boston and there is a david lee, with a lefty. and there is monty ellis, high degree of difficulty here. and this is a pretty reverse. wild sequence in the second quarter. there is allen first six shots. boston up 18 and warriors have rallied fourth quarter keeps him alaif. there is a th

. >> well, it's a week i wrote as -- book i wrote as a tea party activist to try and give a layman's explanation for why freedom is always the best choice in economics and personal liberty. i started out, my problem is i had the secret service come to my house, and i was not really politically active until then. and they came based on anonymous complaint, and i was just kind of stunned, you know? i was raised to believe america's a very free place, and they came there questioning my thoughts and my feelings, and it really disturbed me. and so i started looking into what our founders thought of freedom and what did they expect we would have as a government? and i was pretty sure it wasn't national police ya showing up at citizens' doors. so i looked into that, i read the federalist papers, a lot of history, and i got very involve inside economics through the meeses university on b line. so what i wanted to do was share with other tea partiers a way to explain why freedom works. not just this is my money, i should keep it, but that, you know, i was raised very poor, and so i know from

. >> in layman's terms, this is simply betting on the difference between one your interests -- interestrates and 10-year interest rates. the interest rates could increase or decrease, meaning you could make money or lose money betting on that. these are advances on interest- rate changes, which can be very unpredictable. >> the judge highlighted conflict of interest, saying deutsche bank was obliged to guard the customer's interest alone, whereas here, a loss to the customer worked to the bank's advantage. many banks sold their customers similar products. >> iraq but now of tuesday's trading action. -- a wrap up now of tuesday's trading action. >> a day of confidence was followed by a day of caution and reluctance. more and more companies are worried about the situation in japan. many industries depend on the problems there. investors have been worried and shares plunged. more could come from the supply problems in japan than previously thought. >> also under pressure, the bureau has retreated today from its 4.5 month high against the dollar. time to take a look at the numbers. jermaine

both sides are of the feeling extension is a sign that progress being made in layman terms. 4 point hows in revenue. rookie wage scale, expanding season from 16 games to 18, and benefits for retired players. here's commissioner roger response early today. >> again i have repeated over and over again this is going to get resolved through negotiations. not through litigation. so talk talking is better than litigating. >> former cal bear alexander 5 year nfl veteran. back up player rep for the redskins i asked him when he think an agreement will be reached. >> i think we'll probably get something done early april. i think they are going to have another extension and get something done. i think both sides finally realizing that this is bigger than us and need to get something done. fans turn their nose up all the billionaire fighting and we are in a recession and you are fighting over this. we are trying to figure out how to pay our rent. pay our mortgage. pay our child health care or whatever you are fighting over extra billion somewhere so you definitely don't want to turn the fans off. b

to get back to the simplicity of common sense basic principles and write laws so that an average layman getting home from a hard day's work could read it and say yes, that's what that's going to do to me. and this is what i've attempted to do is to say, let's take the issue of the government's budget. my basic principle is you can't spend money you don't v you can't borrow money that you can't afford to pay back. that's the subtitle of that chapter which i think for most people they would say yes that's sort of profound because it's so obvious. but it isn't obvious to washington. they continue to spend money they don't have, they borrow money they can't afford to pay back and somewhere down the line our grandchildren, our great grandchildren or our children have to figure out what to do with a bankrupt government. the point is that's not complicated. that's what every individual does at home. that's what every business has to do. it's what government has to start doing. >> charlie: and then you have a deficit commission of republicans and democrats and no one is endorissing it except th

the kind of things that would -- that a layman would understand would be necessary to fully evaluate the risk. and then to break -- make a recommendation to fema and the nifp about how to structure a program that will be successful when placed in the market. >> yes. please submit for the record the data that's necessary. >> thank you. >> without objection. thank you. mr. ellis. in reviewing the subcommittee's discussion draft, can you elaborate for us how it would reduce the burden on taxpayers and can you provide us with specific recommendations to improve it in this regard? >> sure. thank you very much, madam chairman. no, we definitely have, i think, the bill is very constructive start in this process. and certainly the areas where we're going to allow the rates to actually increase both one is that it will go from 10% maximum annual increase to 20% maximum increase. also, the fact that they increase the deductible for preflood insurance to $2,000 and something that would help protect taxpayers and reduce some of the subsidy for prefront properties. lastly, as you move to the flat

i'd like to break this down in layman's terms, and if i have any misperceptions about this media can help me with it. due to a flaw in the 1995 our continental shelf deep water fact, numerous companies are drilling in mexico in federal land and paying no royalties to the federal government. is that correct? and as we have heard, the gao -- could you see that louder? >> my microphone was not long. i'm sorry, that's right. no royalties right now that the interior and the structure of the deep water royalty case. >> as we heard the reports u.s. taxpayers could lose as much as $53 billion as a result of this and it's already begun and fiscal year 2011 the bureau the ocean energy management regulation and enforcement estimates we will lose $1.4 billion. in contrast, the oil industry is making stuttering profits. for example, the top five oil companies reported profits of $485 billion in 2005 to 2009. exxonmobil, the largest american oil company reported a 53% increase in its fourth quarter profits. chevron, the number to american oil company reported fourth quarter earnings 72% higher tha

just to the layman, 3d sounds better than 2 d, so is it that much more accurate?n al mammograms improve a doctor's ability to spot cancer by 7%. the hope also is that it will reduce the number of women called back because their initial imaging results were unclear or ambiguous. >> how much will it cost and will insurance cover? >> when we spoke to the lead investigator at massachusetts general hospital, the only place it's been done right now, she told us they are not charging additionally, they're just billing it as a two dimensional mammogram. in addition there is the possibility that in the future this may become the standard and the two dimensional ma'am yam that we're using now will become less expensive. we just don't know yet. >> sounds like break through technology. and only available at mass gener general. when will we see it on a widespread basis? >> they have hundreds of the machines out across the country. those centers need to train their radiologists and pay for the software so they're hopeful by the end of the year much more widespread. >> any draw

. >> how would you compare this to a full series of x-rays in the same type of radiation, in layman terms? >> doses are much lower, even dental x-rays when they are ideally done -- >> the key is ideally done, right? a lot of scientific method designed. the application? and not having the availability were subject to tv industries >> we are in terms to the radiation exposed series to go for mediations to risk is another story we are not particularly dependent on. at the basic things easterbrook is what is the radiation dose.c. >> it seems to be, the point we keep ringing up is the selfovert reporting members, based upon governmenten agencies. gov and so, we are reliant on what the government gives us. it doesn't seem we are parlayino bows or comparing apples torines apples. a lot of times we are comparing apples to tangerine, so we're having problem with the data. mr. baker, you alluded to something very interesting to me. i'm from arizona as well you talk about a multitask affect that tsa is in the gifted in regards to analyzing certain factors of its passengers and actually have noted so

i'd like to break this down in layman's terms, and i have any misperceptions about this media can help me with it. due to a flaw in the 1995 our continental shelf deep water fact, numerous companies are drilling in mexico in federal land and paying no royalties to the federal government. is that correct? and as we have heard, the gao -- could you see hat louder? >> my microphone was not long. i'm sorry, that's right. no royalties right now that the interior and thetructure of the deep water royalty case. >> as we heard the reports u.s. taxpays could lose as much as $53 billion as a result of this and it's already begun and fiscal year 2011 the buru the ocean energy management regulation and enforcement estimates we will lose $1.4 billion. in contrast, the oil industry is making stuttering profits. for example, the top five oil companies reported profits of $485 billion in 2005 to 2009. exxonmobil, the largest american oil company reported a 53% increase in its fourth quarter profits. chevron, the number to american oil company reported fourth quarter earnings 72% higher than the preced

matt strong, steve chevler, kim layman, katie coburg, jennifer bowin, tamara scott, kevin mclaughlin,ave, several republican county terrorists who are here. thank you for working with us. -- several republican county chairs the are here. thank you for working with us. [applause] we want to recognize all of the pastors and clergy. please stand up. thank you for all of your inspiration and guidance. [applause] we want to recognize all school board, a city, and county elected officials. please stand. thank you for your service to your communities. we want to recognize all the members of the iowa hub. thank you for representing house. we want to recognize the iowa senate minority leader. [applause] we want to recognize all members of the iowa senate. [applause] thank you for representing us. we want to recognize the secretary, the state auditor, secretary of state. [applause] thank you for your leadership. we want to recognize lt. gov. tim reynolds. [applause] thank you for your help to our governor. when governor was campaigning, -- when he said that we needed a lot, i started having nig

which, by the way, according to former secretary of the navy john layman who is responsible for whened in the reagan administration for bringing to bear the piece of what president reagan called the philosophy of peace through strength by seeking to build up a 600 ship navy put it out on our radio show that we have not had a permanent naval presence in the mediterranean for several years now. i don't think most americans know that. but to the extent that the iranians are again filling a vacuum of power far from they're being against americana what is emerging is a pox iranian you might call it being a terrific movie which i commend all of you. i have a bit part of it but it is a very sobering wakeup call what we are facing from iran. and speaking of that let me say about the prospects for something better coming out of elections in egypt, we had the army not only allowing the iranian vessels to go through the suez canal, they also as you mentioned are lifting effectively the border restrictions on gaza which is very problematic for both israel and i think for us. but also, they broug

friend is to do is help me explain to my 7,000 heavy construction contractors with this means in layman's terms to them. so mitch, in five words or less can you do that? [laughter] anyway, so the first one just happens to be mitch and as i told you he's with the senate banking committee and is a veteran of the banking committee. he's done a lot of great work. he formerly worked on capitol hill in a variety of roles. he worked for senator lautenberg and he also worked in the private sector as the transportation consultant and was actually acted on the the legislative committee in the washington area of transportation industry representatives group. so mitch, if you can kick off the discussion and then maybe when we are through all of our panel members will have time for questions from the audience. agreed. >> thank you for having me. i think most of you are aware that the banking committee has been going through a transition over the past couple of months from our former chairman senator chris dodd to the current chairman, senator ken johnson. i think under chairman johnson you will contin

in layman's terms would he hungry for being scared or wanted to change something, actually being driven. but from the nationstate that turns a fire in the belly and you have to actually expect others to do it. what is it? how to make sure sure we capture that can apply to institutions in the sense of national defense. i know in the private sector, the way it works and always trying to make their products and to focus on our users. one way that we deal with that constraint is to really tap into creativity. next slide, please. so people first. it really matters what type of culture you said a. so it buco, it is a very collaborative environment. it's a nice place to work. there is a slight tear in the new york office. you've got people talking him white words with different kinds of wingback 50s when the space here for about 45 people. and yes it is a pool table in mountain view, were hit workers are in california in the bay area. he can be serious without having to suit on. so the idea of keeping people comfortable, let me know and really expecting a lot. you've got to deliver. we expect

i'd like to break this down in layman's terms, and if i have any misperceptions about this media can help me with it. due to a flaw in the 1995 our continental shelf deep water fact, numerous companies are drilling in mexico in federal land and paying no royalties to the federal government. is that correct? and as we have heard, the gao -- could you see that louder? >> my microphone was not long. i'm sorry, that's right. no royalties right now that the interior and the structure of the deep water royalty case. >> as we heard the reports u.s. taxpayers could lose as much as $53 billion as a result of this and it's already begun and fiscal year 2011 the bureau the ocean energy management regulation and enforcement estimates we will lose $1.4 billion. in contrast, the oil industry is making stuttering profits. for example, the top five oil companies reported profits of $485 billion in 2005 to 2009. exxonmobil, the largest american oil company reported a 53% increase in its fourth quarter profits. chevron, the number to american oil company reported fourth quarter earnings 72% higher tha

if it is an armed conflict, here as a layman, i am very concerned that if you identify a target whichs permissible, it is a question of timing. how do you know that these people will normally hide in a cave where you could perhaps attack them with a drone? all of a sudden, they are surrounded by civilians and an attack would be completely unacceptable. this is one issue that i am thinking about a lot when i hear this discussion. how do you know in the exact moment when use the drone that the target is permissible and it is not surrounded by so many civilians that is completely unacceptable? and also, i have someone making a reflection on outsourcing issues in this context to private entities and so on. here, i have a very strong view. i take exception to this way of using these firms and so forth for civilians to do this kind of work for the simple reason that this responsibility should rest squarely with people with political responsibility for this. it should be a government at the end of the line who is responsible for it and not some kind of company. and i am concerned to knownote