david kotz has served as expected, for the security and exchange commission since december 2007. prior to joining the sec mr. kotz or does inspector general for the peace corps, and practice federal administrative law for a decade in the private sector to inspector general potts is a graduate of the university of maryland which makes him a terrapin, and a cornell law school. jeff heslop was named the u.s. securities and exchange commissions first ever chief operating officer in may of 2010 commuters bought for the agency's information technology our natural reporting and record management duties. prior to 20 sec, he was managing vice president at capital one which is just acted to acquire ing direct in delaware right in my hometown. and capital one mr. heslop was responsible for companies information and risk management operations. he received his bachelor of arts degree from davidson college. davidson college, when did you graduate? 76. john spratt, congress and john spratt is one of your graduates as will. do you know who the president is there no? [inaudible] >> she is from del

. >> reporter: economist david kotz: >> if the economy's going to expand, while profits are going upy rapidly and wages are stagnating or falling which has been the rule since 1980, then who's going to buy increased output of the economy? it's possible only if households borrow to maintain their living standard. and that's why we've seen the huge growth in household debt in the economy. millions of families unable to pay their bills from their declining income were forced to borrow against their home to, to keep the electric power on. >> reporter: professor david moss of the harvard business school agrees. >> as the crisis was in full swing in late 2008, november- december 2008, i started to put together a graph, a simple chart on bank failures in the 19th and 20th century up to the present. and a really very striking pattern emerged. >> reporter: striking, says moss, was the resemblance between his bank failure chart and a graph of u.s. income inequality over the last century. >> sure enough, the match with bank failures was remarkably strong. inequality peaked just before the finan

the honorable david kotz -- is a kotz? like i went to sleep on it like a kotz.has served as inspector general from u.s. securities exchange commission since december 2000. prior to joining the sec, mr. kotz served as inspector general for the peace corps in practice federal administrative law for a decade in the private sector. inspector general kotz is a graduate of the university of maryland and the cornell law school. jeff is it heslop? good. was named th was named the u.op? good. was named the u.s. securities and exchange commissioner's first-ever chief operating not certain may 2010. users also afford the agency's technology, reporting records. prior to joining the sec, ms. dÜrer heslop was at capital one, which was just acted to acquire ing direct in wilmington, delaware, right in my hometown. their capital one who is responsible for the company's information risk management operations and received his bachelor of arts degree from davidson college. when did you graduate? [inaudible] >> 76. congressman john spratt. you know who the president is there now? [

the honorable david kotz -- is it costs -- cots. has served as inspector general for the u.s. securities and exchange commission since december 2007. prior to join the sec he served as inspector general for the peace corps, and practiced federal administrative law for a decade and the private sector, inspector general is a graduate of units of them which makes him a terrapin, and a cornell law school. jeff heslop was named the u.s. securities and exchange commissions -- commissioners first ever chief operating officer in may 2010. he is responsible for the agency's information technology, financial reporting and records management duties. prior to joining the sec he was managing vice president at capital one, which has just acted to acquire ing direct in wilmington, delaware, right in my hometown. and there at capital one he was responsible for the company's information and risk management operations, received his bachelor of arts degree from davidson college. davidson college? when did you graduate? 76. john spratt, congressman john spratt is one of your graduates as well. do