these are like precursors to the big aig trade. so there were ways to figure it out but was but who, with significant? so because of how much country and you are or just going to go along with the joke, so i think besides the market there were authorities that new things are going on but they didn't choose to act. >> yes? >> i just want to ask a question, maybe make a statement about the money market fund area, and your two views of the world. there was some research done by two stern professors, and it's a broad work but they have some startling figures on reserve prime fund. and if you look at sort of when they loaded up on risk, they went from about 17 or 18 billion in assets to about 60 billion. and if you look at what the spreads were, eight or nine basis point and they were offering 40 basis points off. and you look at the assets they should to do, really from august '07 until after the crisis started to august '08, just in a year period, they just load up on asset-backed commercial paper and some risky financial paper. so it

the office of supervision viewed the role of soup vising risk, not the holding companies like aig andegulators permitted banks and thrits themselves to engage in riskier mortgage lending, stepping in with guidance in the subprime market when it was too late. today, the dodd-frank agent provided authority for clear, strong, and consolidated provisions by the financial firm regardless of legal form whose failure could pose a threat to financial state. we'll have a point for tougher supervision of the largest and most interconnected firms. all bank holding companies are supervised by the fed and the larnlgest are subject to heightened standards. all savings and loan holding companies will be supervised by the fed. non-bank institutions will also be fed-supervised, and the holding company regime has ended. dodd-frank provides for more standards for these major bank and non-bank firms. the fed is charged with putting in place stronger requirements for capital and liquidity. annual stress tests are conducted and enhanced rules on lending limits and counterparty credit exposures. the fed is

aig didn't use agreement. what did they use? fancy computer bottles that wants me for that year that worked really well. maybe if they turn a few more greek letters don't work out. the third virtue of bbnt it's independent thinking. how about that? advanta want his employees to think independently. let me tell you what that meant to bbnt. while the entire u.s. banking industry was figuring out how to compete with countrywide and earned those big fees, in other words, to be short-term greedy, what were they doing? inventing all these crazy new exotic and is non-toxic and those mortgages consisted of things like negative amortization and you could do so could pick a payment. this was the way all banks in the united states made their money in the 2000, except for bbnt because there was an independent thinker who wasn't even particularly high up in the executive hierarchy. that said this is a bad idea for customers. were not going to do this. john allison did make that decision. he said i was the right decision. i trained this guy w

the better reserve had the power to deal with aig. -- the federal reserve had the power to deal with the 80. they will now be able to set up a facility for institutions that are solvent but illiquid to collateralize with the liquid assets and have some liquidity. it has to be a facility that is available to a whole range of institutions. the comptroller of the currency says that the public must be willing to pay. there will not be any effort to keep a failed institution alive. >> my question is about the f- stock. >> there is a temporary an tsiness. we work hard to make sure the insurance company was still within a reasonable way. because of the historical accident mccarran-ferguson, no federal regulation, no federal officials concerned with insurance. i think that is very temporary. the size of the loan does not do it. we should be resolved and by the end of the year. >> none of the bills passed by the house special services committee this year have become law. what has been the impact on financial regulation. ? >> i think the biblical province is correct. as to who's been jawboning

departamento, graciaser >>> síunh@primer impactoh@h@uni corazón y el cerebro son las 3 importantes >>> aigsr muy suscepe y demasiado frágil. cuando la línea son profundas son de personas agresivas, fu o fuertes que lograron su propósito. >>> y contrario a lo que dicen las línea s, la vida revela la salud >>> la vida si está cortando la línea significa que habrán varias intervenciones médicas >>> mientras que la duración de la vida, la miden los llamados brazaletes, estas línea que se forman al doblar las muñecas ¿y qué significa cada línea? >>> 30 años >>> el amor afirma se marca en el punto conocido como monte de venus. >>> entre más ancho está venus, más posibilidades de amores hay. si no es muy difícil para tener suerte en el amor. >>> y la palma no oculta nada. los matrimonios también salenh@ que el novio de liliana vea este reportaje. >>> he tenido 2 matrimonios y otra persona que tengo mi novio con el que me piens dijo 4 matrimonios >>> otras líneas interesante los montes de jupiter, sa turnosatu apolo, lo más importante que sean prominentes porque si no la prosperidad será difícil de

water companies and train operators among many more at stake in the large telecommunications company aig he is also the sale with the. o.t. there's been a continuous crime for the past twenty years they've sold off our company piece by piece and now we only own a small percentage but that small stake is extremely important to the greek people but they want to sell even that. is a huge turn for the present government who were heavily opposed to the sale of eighty shares when they were acting as opposition. they called it a national crime when the previous government sold shares now they want to do the same and sell the shares now at a low price we don't think we'll see investment or any development of it to you we think the only thing others will care about is profit profit profit. big continuous calls from the public to refuse the aggressive privatization proposals set forth by the troika has seemingly gone unheard of their breasts are from the european union is there a mendel's we would talk about blackmail i guess the greek government critics have argued that they backing a bailout act

so when i get on i got to guantanamo so i had seen the aig bonus i was hiding a piece of my bread because of they want to say was coming very smart animals economy on the same time through the fence and i was feeding them when i got. when they saw it they got i got punished by thirty thirty days by isolation in the darkness because i was feeding. and it was was there a feeling that the camp was hostile to muslims of course it was. it was like that because procter eleven september. and most americans who are. they were thinking that. muslims are terrorists. of course that's not. there to fight against the terrorists and not to be were you told anything about your legal status at guantanamo we was not authorized to ask any kind of questions when we asked a question so we got we got the punishment for it and they said just. asking the question it's not you i now want to know the first three years i didn't know even that my family knows that i'm a life and i even didn't know did not know that my family doesn't know that i'm going on i didn't know anything so. when i got arrested for the note

the federal reserve have the power to do what they did with aig. gone. the fed is now going to be able to set up a facility for institutions that are solvent, but the liquid -- ill-equipped -- illiquid. it has to be a facility that is available to a whole range of institutions. that is a disadvantage for us. the public has to be willing to pay. there will not be any effort to keep a failed institution alive. >> you can watch all of his remarks online anytime at c- span.org. more on the dodd-frank one-year anniversary with live coverage monday when the financial stability oversight council hold a public meeting looking at the bill. you will hear remarks from tim geithner and federal reserve chairman ben bernanke. watch live coverage monday at 11:00 on c-span2. >> you are watching c-span, bringing new politics and public affairs. every morning, it is "washington journal." journal."

companies and sure enough rate is amongst many more at stake in the large telecommunications company aig he. has been a continuous crime. for the past twenty years sold off our company piece by piece and now we're only a small percentage but they're small stake is extremely important to the great people but they want to still even though it. is a huge ten for the present government who were heavily a close to the sale of eighty shares when they were acting as a position. called a national crime when the previous government such as now they want to do the same sell the shares now at a low price we don't think we'll see investment or new development we think you only thing others will care about his profit profit profit. he continues calls from the public to refuse the massive privatization proposals that falls by the troika seemingly gone on her face there present from the european union is three men who. talk about blackmail i guess the greek government critics have argued that they backing a bailout acting out of interest keeping profits private but the last is to say she lies nothing y

to belt out with aig, build up their creditors and counterparties. they paid them off dollar on the dollar. the majority were foreign banks. but the treasury and this was not good congress. the treasury came in and put over 100 lan dollars of taxpayer money and paid off their creditors and counterparties a dollar for a dollar. that should've never have been. in fact, secretary baker says cne and freddie were nothing more than moral hazard on top of moral hazard. there is nothing in here -- in fact, if you look at provisions by dodd-frank, they specifically say in the too big to fail institution that the treasury -- when the treasury, that's another word that uni can assume those allegations. uni can pay their counterpart. >> i'm sorry, everyone. we've got to go. the leadership is making to stay at their press conference. i'm sorry we didn't get more questions. thank you all for being here. [inaudible conversations] >> part of the dodd-frank regulation created a new agency, financial stability oversight council. the next minimal look into the one-year

aig showed us how interconnected the insurance industry is with the health of our economy and i am sure mr. woodall's contribution will be invaluable. this ability of our financial system and our economy is important so i hope we can move quickly on these nominations. not to senator shelby for opening remarks. >> the committee will consider several important nominations. martin gruenberg to serve as head of the federal insurance deposit corporation. he served right here with us on the staff over 19 years. for the past six years he served as vice chair of the federal deposit insurance corporation. as chairman he would oversee the fdic in a challenging time. due to the financial crisis and the weak economy bank failures continue at a steady pace. it will be no easy task for the fdic to resolve these failed banks and a manner that protect the deposit insurance fund. the fdic must also decide how to undertake the new regulatory responsibilities under the dodd-frank act. i hope to hear how mr. gruenberg would approach these tasks. in particular i would like to learn his views on whether the

bear or aig-like substance. it's to challenge nonbanks into the new fdic-led resolution process. on this front, i am meaningfully less optimistic than the fdic about limiting systemic disruptions if creditors face uncertain losses. in its recent assessment of how the dodd-frank resolution mechanism might have worked in the case of lehman, the fdic estimated the creditors could have been quickly compensated and the healthy portions of lehman sustained only with small losses. however, this rosy scenario depends on several doubtful assumptions including a long period for assessing the condition of a fragile sifi, confidence of asset valuations during a crisis and lack of international jurisdictional bankruptcy complications. ultimately, policymakers can't have it both ways. enhancing market discipline by letting creditors take a hit in the crisis will raise the probability of a contagious run. the alternative of protecting creditors to keep a future lehman in operation foster's moral hazard. the worry is dodd-frank

treasury aide said that we took away the federal reserve's power under section 13.3 to do away with aig. we've made it illegal to spend money -- public money to take care of a financial institution. we can pay money to pay off some of its debts if necessary, but none of it goes -- i think that was very important as well. >> i just want to remind you to state your name and your organization before you ask questions. >> how is it that even after it got-franc passed, they do not what the exposure that they have? >> the law has not fully gone into effect. that is exactly right. we passed the law when year ago, there are rulemaking -- you do not go to suck that carry these things out to be phased in. that is what i talked about. >> when will that happen? >> within the next few months. that is precisely what i was talking about. if they had been fully funded in february or march, we would be a lot further along. if the republicans had their way, we would know before october of 2012. we hope to be able to get that within the next couple of months. that is precisely what the bill will do what i

the people at aig didn't.'t know what fantasy world there were living in, but you look back of some of the stuff they did, it just makes no sense. it was not about reality. so reality is their prime virtue. the second virtue that the acid every employee is reason. okay. seven to see the connection. objectivism. ceases i am a philosopher of reason. this is what it's all about. reality is what's out there. reason is what's in here. our tool for apprehending in dealing with and profited from what is out there. you have to use reason to run the business. what did they use command fancy computer models. that worked really well. a few more greek letters and it might have worked out. we will have to try that again some time. the third virtue is independent thinking. how about that? a bank that wants employees to think independently. well, the entire u.s. banking industry was figuring out how to compete with countrywide and learn this big fees, in other words among short-term greedy, over the doing tonight inventing c

treasury aid just wrote the article that we took away the federal reserves power to do what it did it aig. we made it illegal to spend money, public money, to take care of a financial institution. you are going to -- we can spend some money to pay off some of the debts if that's necessary to be recovered from other financial institutions. but none of it goes to show -- you saw the fdic in terms of the club act. i think that was very important too. >> for the rest of that, you can watch c-span.org. the senate is coming back in for more work on a nonbinding measure that asks wealthier people to contribute more to deficit reduction. a vote for the bill it scheduled at 10:30 eastern. the debt ceiling discussion continues. we'll continue to monitors the talks set for 4:30 eastern. now here's the senate on c-span2. the presiding officer: the senate will come to order. the chaplain dr. barry black will lead the senate in prayer. the chaplain: let us pray. eternal god, our refuge and strength, our ever-present help in troubled times. we need you during this season of challenge. our lawmakers need

aig would be a halloween supply store right now if it wasn't for government.ere would be no american automotive business, no banks and wall street as we see them today. and we need money now, and apparently we can't raise taxes, but we should. we should ask them for a one-time giant tax increase that we'd put in a pot to create jobs, infrastructure, all the things we need to get the economy going, then we'll pay you back later, just like you paid us back like the banks paid the government back. why can't it work back the other way? >> bill, the -- days left now in this thing before we get to august 2nd and the whole question of default. they still seem, as we have discussed, be in the bluff stage of, we're going to make this proposal, which is really just a bluff to get you to do this. we still seem to be in that zone. as we go into the weekend, it still comes down to, in the end, the only thing they actually really have to do is pass a one-sentence bill, which changes numbers. that's all it does. they've done it countless times they've done it countless times

remember it was bipartisan collusion and the tarp bailout, auto bailout, mortgage entitlements bailout, aig and fannie mae that brought us to this position in the first place. >> sean: that is altruism the president didn't get one vote on his budget from republicans, he didn't get one vote on stimulus, obamacare, ran it through, changed the rules, bribed senators or the moral equivalent this is his economy. he created this. he had two years with majorities in both houses is the result of this keynesian nightmare socialist utopia of change that you can believe it. >> yeah, well he certainly owns it now. make him own it, swallow it and deal which. >> sean: we'll deal with that, thank you michelle malkin. >> time to check in with greta van -- greta van susteren. why are you laughing? >> i don't though 10:00 at night things look different. we have so many guests tonight that i need read off the list. >> sean: paul ryan. >> greta: how did you know? >> sean: it is in the corner of the screen, i can see it. people at home can see it. >> greta: where, o right, i can't see that i'm not going to tell

. $196 billion is slightly more than the $182 billion bailout of aig but it is also a lot more than the billion bailout of g.m. and $12.5 billion for chrysler. >>> employee shoplifting appears to be on the rise. here is a weird twist. experts say that's good news for the economy. the national retail federation finds that retailers lost $37 billion last year from theft. that's up more than $3 billion from 2009. analysts say retail employees are taking more risks because they now have a better chance of finding a new job if they get caught. >> one way to look at it. >> head scratcher. >> that will look good on the resume. >> we all pay for snacks and checked bags at the airlines. flyers are willing to shell out extra bucks for something else. access to short security lines. a survey by the u.s. travel association finds 45% would either be very or somewhat likely to pay as much as get this, $150 a year to undergo a background check so they could zip through the faster security lines. not surprisingly, frequent fliers tend to like this idea a lot more than others. >> if i were a frequent fl

they got separated, she didn't want to make a aig deal out of the divorce. also scarlett johansson/ryan reynolds. their divorce was also just finalized. they on the contrary were married for, what was it, 20 minutes? >> give or take a few minutes. >> my favorite part is that he said, to the media, you weren't part of my marriage, you're certainly not going to be part of my divorce. then he went on this big, long interview diatribe where he talked about it incessantly. george lopez, his divorce is finalized, and patricia arquette. >> a rough weekend for those couples. >> george lopez gave his ex-wife a kidney. >> really? and they still couldn't stay together? >> i doubt she gave it back. other way around, she gave him a kidney. >> other way around. >> yeah. >> okay, all right. let's move on to another type of splitsville. in this case we're talking about vinny leaving "the jersey shore." i know. you are so broken up. you know, so this means that the mvp team -- that's mike "the situation," vinny, and pauley d. -- of course are going to be separated. they're g

this, but i will ask you aig straight question and i am ans counting on a straight answer.e the president said he is talking to you about what saw just ment's may have to be in the made in the case c of default.eu your office announced you immediate -- you met withf bernanke and the federal reserve on friday. what is your plan for default? >> our plan is to get congress to raise the plan. >> that's their plan and that t is what happened, and it will happen this time too.av we do not have the ability to protect the american people from the consequences of congress not taking that action. >> the president said you have discussed what adjustments a will have to be made ifc you gou into default. >> again i want to emphasize,>>r just remember, this is the united states of america.cks we write 80 million checks a ms month. there are millions andof millions of americans that depend on those checks coming tm in on time.y our it is people who get social security benefits.dicare and we cannot put those put payments at risk. and we do not have the ability i to limit the damage on them ifhm congress

we give aig and other people low interest loans but our students still pay six and 7% on loans? but do you know what? it is okay. we don't say anything so my brother, you take that energy. i love your energy. take it to the streets. >> that we have been taking it to the streets and there have been protests. we live in a nation that seems to be manipulated by a mass media. >> i knew it was going to come back to the media. [laughter] thank you so much. unfortunately we are running out of time but once you lay blame on the mass media than we then we are all sacked. thank you. >> people are activated and people are protesting and that is why myself i have joined the freedom party. the freedom party has been involved in massive protest to change the way education is being destroyed. >> thank you so much. thank you very much. i appreciate your efforts. we are told that we are at the end of our time. i want to thank julianne malveaux, dr. malveaux for a wonderful "surviving and thriving" and "black titan." thank you so much. i am carol jenkins. we will see a next time. thank you. love

the failure of aig however demonstrademonstra ted that the federal government needs to do a far better monitoring risk in this group in the financial markets. hopefully mr. woodall can improve the federal government's understanding of the risk presented by insurers and in so doing help prevent another aig. mr. chairman i look forward to hearing from the nominees. >> are there any other members who would like to make any remarks? now for a brief introduction of our three nominees. senator paul sarbanes former chairman of the senate banking committee will introduce martin gruenberg, senator sarbanes? >> chairman johnson thank you very much. senator shelby, senator corker, senator toomey and senator moran prank. i am pleased to be back on the committee room and i am mindful of the chairman's gentle admonition when you choose me when he said brief introduction. [laughter] i will do my best to abide by that. is hard for former senator when he gets the microphone to do that. i'm very pleased to have the opportunity to come before the committee today to introduce the president's nominee for c

. >> you step in long before aig -- >> reporter: it appears neither he nor his cell phone has a mute. >> i got to go, bye. >> why do you need the phone on you when you're doing -- >> i know. my mom's went off in church. she's in the front row. are you serious? >> i'll never win. coming up. miranda lambert, out in central park. the stronger the rapids, the more we loved it. took some wild risks when i was young. but i was still taking a risk with my cholesterol. anyone with high cholesterol may be at increased risk of heart attack. diet and exercise weren't enough for me. i stopped kidding myself. i've been eating healthier, exercising more, and now i'm also taking lipitor. if you've been kidding yourself about high cholesterol, stop. along with diet, lipitor has been shown to lower bad cholesterol 39 to 60 percent. lipitor is fda approved to reduce the risk of heart attack and stroke in patients who have heart disease or risk factors for heart disease. [ female announcer ] lipitor is not for everyone, including people with liver problems and women who are nursing, pregnant or may bec

did they give aig a triple a rating and then the next day went bankrupt. i would love your opinion on those people. guest: the credit rating agencies perform a very important function. they do a better job with regard to the private-sector than the public sector. there have been notable exceptions. there were a viety of instruments that were directly contributed to the sub-prime crisis that happened back in 2008. here is what is important. a disconnectetween who is benefiting and who is going to pay the price as the bubble burst, not enough transparency in, too much debt, not enough focus on cash flow. failure to act until a crisis is at their doorstep. there are a lot of similarities. credit agencies are starting to step up to the plate. there are starting to recognize interest rates to a greater extent. they are starting to do a better job. you have to understand what they do. they do not consider off-balance sheet obligations. if you are a foreign investor, they do not consider currency risk at a. understand what they're basically saying. i do not think