analysis, randall kroszner, former governor of the federal reserve, and now professor at the university of chicago booth school of business. randy so, great to have you on this important day to get your take on the fed. tell me, do you think that the fed did the right thing if you were still work at the fed, would you have voted for this? >> boy, this is a really tough call, i think. because the economy certainly is not improving. and the fed is trying to do more. but there's so many other headwinds besides just what the fed can do. i mean the chairman talked about this in the press conference today. a lot of things that are outside of its ability to change. things like on uncertainty in europe, the fiscal cliff and uncertainty. i think it's very important that the fed make it clear that it is there to take out the risk of de flation or downside risks. but it's a little bit unclear how much help this can be going forward dchblt some help but i don't know how much. >> susie: well, that is the key question, isn't it? will this work? what do you think? >> and so i think as the chairman described in h

they have been successful to the university of chicago economics department and notable fraud such as milton freed man. the idea of neoliberalism is there should be massive, selective tax cuts. margaret thatcher it is there is no alternative. of course that's absurd. there was an alternative. we have to connect the dots to understand what is going on today. i read the chronicle. so what i've done is put together a montage of the murder of public sector, which is going on everyday. in fact all of the public sector is in body shape. public libraries, parks from the municipal to the national level. our character is among the worst in the world. the new deal deals with things in a different way. when i was going to school, california school's were the best. now they are among the worst with the new budget cuts. of course, my university is being privatized. all of the higher education is being privatized. all through the uc system. how do you run a modern state with tax cuts? we resort to desperate, back last november, we were asked to vote to make four indian casinos in san diego county p

austan goolsbee is a professor at the university of chicago booth school of business, a former economic adviser to the white house, to president obama. austan, you were part of the administration that has been accused of not using its full political capital to create jobs when it had a chance. how do you respond to that criticism? >> look, i don't think that's fair, and that's coming at the president from the left, and you just heard stephen saying, he wished they hadn't done anything. i mean, i think though it may have no implication for the election in 2012, historians are going to look back and avoiding the great depression in 2009 was -- is going to be viewed as a major, major accomplishment. the financial crisis and the economic crisis at the end of 2008 was bigger than the one in 1929, that led us into the first depression, and finance is a bigger share to have the economy now than it was then. so i think if you don't think it could be worse, you were not paying attention to what was going on. >> christine romans, host of "your bottom line," christine? >> all this looking in the r

council of economic advisors on under president obama currently an economics professor at the university of chicago, please welcome back to the show austan goolsbee, young man. (applause) >> jon: so let me ask you, last time i talked to you were just leaving the administration. you were elated, walk on cloud nine, you have been gone now for how long. >> a little over a year. >> jon: you have followed it since then? >> yeah, i've fold, look, some days you miss and most days you don't. there is a little-- i had an old professor at, when i was in graduate school who used to say a boot camp, you know, he hated it at the time he hated it. and there are some things in life that it takes you, you know, a year, many years, even a decade before you go look back and realize how awful it really was. and the government's got a little of that. a little of that feature to it. >> jon: i find that typically that's what people say to someone when they're trying to make that person feel better about what they've spent their life doing. you know what i mean, like it's always the drill sergeant, you go back and say he

he had been on the faculty at the university of chicago law school. in chicago. you remind me of him and he of you. what is his name? he said his name was barack obama. i heard about him from other friends in chicago. we got together for a cup of coffee. the president at that time was practicing the voting rights law. we had a chance to visit. you have met him. maybe some of you have. he is a very warm and interesting and engaging person. we have stayed in touch. i have walked his political progress with enormous pride and excitement. >> could you imagine going into an obama administration? >> no. i like to be the boss. [laughter] it is fun. you can help from outside. you can help from the position of governor. my second term in 2013, we do not have term limits at home. i have a term limits named diane. [laughter] i promised her two terms and that is it. >> we will go to you for questions in just two seconds, but you said you know mitt romney. >> i am a citizen of massachusetts. as governor, when i was a candidate -- there was a similar debate as ther

states, and the district of columbia that approved new teacher evaluation laws to qualify for federal funds. >> what's happening in chicago -- >> reporter: tim knoells of the university of chicago now says the battle in chicago is the nation's battle. >> mayors across this country are going to look at who prevails. if rahm prevails, they're going to push a lot harder for the kinds of reforms rahm wants for chicago to improve the schools. >> reporter: and he says, if teachers win, it's likely more cities will see increased resistance from teachers unions. this strike comes at an awkward time for the democrats. analysts point out that teachers union has been a strong ally of the democratic party, which will look to that union to help get out the vote in november. brian? >> rehema ellis remaining in chicago for us tonight. rehema, thanks. >>> a former banker is in the news tonight, he helped his rich clients hide their wealth from the irs in swiss bank accounts, and turned whistle blower a few years back. he squealed on his customers to the justice department and ended up going to jail himself for a time. but today the irs gave him an eye-popping reward for all the info

mircea eliade talked about - from the university of chicago - talked about sacred and profane as modes of being in the world, two distinct modes. sacred, of course - and when we talk about the experiential dimension, we'll definitely be talking about the sacred - is the nonordinary; the transcendent, the wholly distinct. and we're going to talk about different kinds of religious experience. anybody been to a sacred space and you walk in and have a sense of something, well, just flat-out different? anybody? sure. some examples. >> well, you were talking about jerusalem, israel before. and i'm jewish, but we went to the church where christ - the nativity, and many of his churches - and it is awe-inspiring. but what i wanted to bring out, too, is that the religions all seem to flourish in jerusalem; the religions don't seem to have problems with each other - it's the nationalities and the people that have the problems. i mean, even their social life is very similar, in many ways, but it seems that we seem to blame religion in a lot of cases, and it's not religion at all - it's territory,

after starring roles in college productions at the university of chicago, he dropped out to make it asng himself with odd jobs. >> my first job was in an auto plant in kansas city. they treated you like a slave. from there i went back to chicago, worked in steel mill, drove a cab stuff like that >> reporter: gradually he started getting parts in plays, film and tv. then in 1970... along came mary. mary tyler moore played an inspiring news producer with asner as her boss. he says he knew it would be a hit when they taped the first show and came to what would become a classic tv exchange. >> look, miss. would you try answering the questions as i ask them. >> when i got to the, you know what? you got spunk >> you know what? you've got spunk. >> it was so beautiful. oh, gee, golly. i hate, "i hate spunk." >> i hate spunk. that audience was like an animal. 00 people. they just roared. i felt like i could command them to walk off a cliff. >> reporter: the mary tyler moore show ran for eight years >> i think we all feed some clean ex- >> reporter: but that was not the last of ed asner as lou

everybody. >> my name is pauline lipman, professor of education policy studies at the university of illinois chicago. i am part of the coordinating committee of teachers for justice. what is happening here is strategically significant nationally. chicago was the birthplace of the neoliberal corporate top-10 education reform agenda. privatizing public education, closing and appetizing public neighborhood schools, high- stakes testing, paying teachers based on test scores. that whole agenda. chicago is now the epicenter of the fight back against it. what happens in chicago will really have an implication for whether we are able to turn back this national agenda. the eyes of the country are on chicago today. >> in a moment, we will be joined by professor pauline lipman, the first, phil cantor, a teacher at north grand high school, a strike captain at his school and part of the group "teachers for social justice." and rhoda rae gutierrez, the mother of two public-school students in chicago and a member of the grass-roots group "parents for teachers." explain what this is all about in the nation's third

genuine and important way to approach religion and someone might go to the seminary at the university of chicago to do that. but that's not our question here. we don't want to come - because we're not interested, maybe individually, but as a group we're not interested in determining truth of reality or religion. we're interested in that power question that ninian smart mentioned. we're interested in the power of it. so that's put us back in the practical and social here. personal - we don't teach religion here. we teach about religion. but, i'm in the trenches. you know, sometimes people think, you know, i'm sort of a commentator. you know, they hire like bill curtis or somebody to run this class. no, i'm an in the trenches teacher of western illinois university and i taught to thousands and thousands of students down there. most of them think of me as kind of a metabolic impediment to their more practical goals in life because westerns have very practical schools, so i constantly have to win them over. but, the personal side, nobody has ever come up to me and said for taking this course, belief

the university of chicago moves up on the list of the nation's top colleges from fifth-fourth the onlyation and to need based 8 over one month after the lollapalooza music festival the restoration of grant park is finally complete the price tag double what was initially estimated costing $350,000 a fixed the landscape by seating areas and replacing some of the shrubs promoters of the festival initially thought it would cost much more to repair the park. only so many days of shopping until christmas. this season you will not have to fight the crowds there putting the hot toys on layaway it lets shoppers reserve any of 50 items on a yet to be announced last bugs that is required is a 20 percent down deposit there is no charge for this service. this script only lasts about a half a page. i can find out more and bring it to you tomorrow. next thing we will hear these christmas carols on the radio. we are going to cool down tomorrow to the '60s and readings after that may drop down to the '50s in parts of the area as rain kicks up in the afternoon, a look at tomorrow night and how widesprea

i spent a lot of time going through the university of chicago archives, it is not that extensive. i went through the loudon papers. you have to do some triangulation because every prospective you are getting particularly from the press is slanted in a certain way. so for instance one of my contention is something some critics have taken me to task for is i have a more sympathetic view of big bill thompson and his machine than what i consider the cartoony thing that has grown up in history. the people with the printing presses right history and thompson left not a paper behind. there's nothing you can find. victor lawson has this big archive and mccormick has this big archive. one side gets to write the history and thompson -- i hope we get into this later, he was a dishonest machine politician but there are some ways in which that was better for the average chicagoan than the high-minded reformers. >> it is interesting. >> i found out about this story which is the way i started the research for it by a man named frank freed whose claim to fame was he brought the beatles to chicago

. >> your kids attended the university of chicago laboratory schools, correct? yes. me school mayor rahm emanuel chose to send his kids to, correct? the university of chicago laboratory school has seven, count them, seven art teachers on their faculty. isn't that right? yes. but, you are aware that a school you just voted to close a few months ago had zero art teachers on its faculty in 2011, isn't that right? yes. your students also receive music education from day one at the lab school. isn't that true? yes. your students had physical education class every day at the lab school. isn't that right? >> yes. your students had libraries, beautiful libraries to study, research and right. isn't that true? yes. you are aware, ma'am, as we sit here today, 160 cps schools do not have libraries. isn't that right? >> that was matt farmer. he was addressing -- he's a parent from chicago public schools. we are going to have matt farmer in from chicago. one of those parents who has been supportive of the teacher's strike right after this. we'll be right back. to compete on the glo

luigi received a ph.d in economics from mit and joined the faculty of the university of chicago's school of business in 1992 where he is now the robert c. mccormick professor of entrepreneurship and finance. he's written on a host of financial and economic topics including in our pages, ranging from financial regulations to the economic effects of culture. his earlier call all the book was called "saving capitalism from the capitalists," the theme central to his new book just as it was for adam smith at the dawn of american capitalism. in 2003, luigi received the prize for best young european financial economist. is currently the vice president of the american finance association, the lead independent director of telecom italian, and a member of the american academy of arts and science. he also serves on the committee on capital markets regulation, and he has a long list of other appointments. now, "a capitalism for the people" is already generating intense discussion. the economist tyler cowan recently said on his influential blog, if i had to pick out one book to explain what is going

. >> not quite academia, but i am going to the university of chicago to start an institute of politicswant to inspire young people to go into the public arena not just as candidates but as policy people, political people. i really believe in this. i understand that this is a solid process -- sullied process, it can be grinding and discouraging, but i don't think there's anything you can do that is as exciting as helping to shape the future. i want to communicate that to young people. there are a handful -- there they are in the back -- students from the university of chicago who will be involved in our institute who politico has hosted as interns this week, for which we are grateful. i can tell you that before i came out here -- what we hope will happen is that they are getting a chance to see this close-up and they are getting infected with the budget. i don't mean the democratic party bug. >> the political bug. bug -- nottical the politico bug, either. [laughter] although, there will be forums, and mike allen will be at one of them, although he doesn't -- [laughter] we will get consu

the former chairman of the council of economic advisers and a professor at the university of chicago boots school of business. austin, you have a chance right now to call out the biggest lie in this campaign. please tell my viewers that they will not be seeing me in a dress, which is what i promised if 12 million jobs were created in four years. they won't see that, because this economy is not going to allow for 12 million jobs in the next four years. >> ali, i learned a long time ago not to make forecasts because i would look dumb. the private sector in even the last two years which has been, as you say, modest growth has added something like 4 million jobs over two years. so it would have to speed up but it wouldn't have to speed up to something unbelievable to do that. >> let's bring in a guy who has made the forecast, actually. moody's analytical chief analyst mark zandi written the book "paying the price" on a new job obsession which is optimistic that we'll create new jobs. i'm big on optimism, we don't see enough of it. the national budget office predicts the economy will creat

for insight i'm joined by a professor at the university of chicago. and professor, i thought we solved this problem already? what is going on? >> i left it to you, melissa. i'm really shocked it continued. melissa: but, on a very serious note, i mean we have sort of shored up the financial piece of this, a bit, right? but it looks like everything has blown up again. break down for me what is going on. >> there's a short-term liquidity crisis, meaning that the banks didn't have enough machine any, that sort of thing, that they were in danger. one of the really extraordinary things that mario draghi, the head of the european central bank, did this summer was really moved together with the leadership of the european union, led by, angela merkel, to shore up those short-term problems but over the medium term and the longer term the lenders, which would be germany and the scandinavians, have to adjust, and they adjust by lending more money and the weaker countries have to adjust by ratcheting down in effect their wages and expenditures, and when you do tha

yale came in third place, followed by columbia and the university of chicago. georgetown is the top ranked local school on that list. it is 21st on the u.s. news and world report list. g. wit w, the university of maryland, and american university made the list as well. >> time for the final forecast, tom. love this weather. >>> gorgeous morning under way. sun is up and a clear sky. up near 80 during the afternoon. feast your eyes on the seven day outlook. gorgeous continuing all the way into monday looks like now. highs in 80 during each afternoon. morning lows near 60. next opportunity may be tuesday. danella, how's traffic? >>> slow on i-66. heavy on the brakes at the bypass, jammed even as you continue eastbound very slow. take a look at fairfax county parkway to get to the beltway. take you about 39 miles an hour. 19 minutes. >> thank you for joining us for "news 4 today." >> all right. the "today" show is next. we'll be back in 25 minutes with weather, traffic, and any breaking news. we'll be bac heavy load in america. but mitt romney plan, a middle class t

he started the paulson institute at the university of chicago which focuses on cooperation between theina. paulson was replaced by timothy geithner. he was president of the new york fed. since then, benz deali ining deg with the aftermath of that weekend. bob dimond was a key negotiator in barclays acquisition of lehman after the bankruptcy. in 2011, he became ceo of the bank. dimond held that position until july of this year when he resigned amid allegations of manipulating the interbank lending rate or libor. another banker at the table was jamie dimond, months earlier his bank j pchpmorgan acquired bear stearns. he's still considered one of the most powerful bank ceos in the world. >> christine romans, thank you very much. >>> lehman's failure shocked the financial world, really the entire world, suddenly anything involving money seems scary. want to bring in jill schlessinger, editor at large of cbs moneywatch.com. thank you for joining us. what do you remember most about that historic time in september, right after lehman failed, the fear, the panic, so many people believed the am

let's turn to my favorite expert on this, charles lipscomb from the university of chicago. insight for us. professor, thank you for coming back to the show. what do you think of this latest wrinkle? >> it is a dog that didn't bark. it is something that didn't happen. it is very important. since we last talked a week ago there have been a number of developments. the german constitutional court saying it was all right for germany to participate in the stability facility is one of them. but the most important that would have been critically important had the court said it was unconstitutional for germany to do that but the most important affirmative action is mario draghi moving to buy bonds. i think that draghi is proving to be the most important figure for european integration in two or three decades, really since delore moved forward with european integration in the 1980s. melissa: do you think history will look back on him favorably to say that he made the right decisions? >> they may or may not with regard to pumping money into the economy. the there is long-term issue an

. >> guest: her father is a noted lead researcher at the university of chicago and opens the hospitalin iran and she is born there. spent a lot of her childhood following her parents around the middle east, the developing world in some cases western europe. a lot of it outside the united states. when she meets barack obama in 1891 in a cafÉ in chicago, they had a lot in common. they both grew up in muslim countries. he ran and indonesia. they have a different date. they're definitely on the last part of the spectrum and they have resorted to stand for what they consider an american parochialism. and that becomes a bonding moment. early on. but let's not forget who valerie shared is in the obama is. she is the gilded arch gateway into the establishment. she knows everyone. she's from a prosperous and successful family that's been successful for a long period of time. she was deputy chief of staff, mayor of chicago, have the power to stop the projects, went to stanford law school. this is someone who is very influential, very connected, very powerful. and they become very grateful and b

welcome michelle obama was the director university of chicago medical center and she's been left alone about what she's accomplished in taking care of people with limited resources, limited incomes and that's extremely important, especially since health care is a huge issue at the present time. >> both sides. >> hi there, charles smith. let me try and frame my question. i mean, you are proposing a number of structural changes, which i hope would make a difference. just assuming for a second they did come in the question i have is in a democracy, essentially the median voter makes the difference. so changing any of these laws in terms of voting, in terms of primaries regardless, ultimately it's going to be changing the median voter. and there is a lot of evidence, like you say with your example of the commission on the defense, a nevada social finance says he simply living to two different universes. so it strikes me that change anything really fundamentally means we have to change attitudes. sabato says that. my question is that one issue that i see is fox news, which is essentially a

well, michelle obama was a director at the university of chicago medical center and is a much loved about what she accomplished in taking care of the with limited resources, limited incomes and that's extremely important especially since health care is a huge issue at the present time. >> well said. >> hi, charles smith. let me try and frame my question. i mean, you're proposing a number of structural changes, which i would hope would make a difference. assuming for a second date date, the question i have is in a democracy, essentially the median voter makes the difference. so changing any of these laws in terms of voting, primaries, regardless, ultimately is changing the median voter. there's a lot of evidence he cited with your oil at the condition of a lot of social sciences we essentially live in two different universes. so would strike me that to change anything really fundamentally means we had to change attitudes. that is my setup. my question is that one issue that i see as fox news, which is essentially 24/7 propaganda machine. i was curious about your views in terms of what is t

with me charles lipton, university of chicago professor in international politics. the middle east and come back and i still haven't fixed this problem. how come? were you going to fix this last time i saw you? >> i wouldn't do it while you were out of the country. i think that would be wrong, that would be wrong. no. it is one of those problems that's very deep and very hard. during the democratic convention, during the republican convention, ann romney looked straight at the audience and she said in a very moving statement actually, she said of her husband, this man will not fail. and i think that's what mario draghi said about the euro during the middle of the summer. it had a reassuring effects on the market. over the short term the euro has been strong. now we have serious problems to tackle over the next month. melissa: i didn't buy it when he said that we're going to do everything we have to do or whatever it was, whatever it takes. whatever the statement was in the market was so buoyed by that. has he sort of oversold and underdelivered and what does that me

michele obama was a director at the university of chicago medical center. she has left alone with limited resources and limited income. i think that is extremely important especially since health care is a huge issue at the present time. >> well said. >> hello, i am charles smith. let me try and frame my question. you are proposing a number of structural changes. assuming for a second that they did come a question i have is, in a democracy are, essentially the median voter that makes the difference. changing these laws in terms of voting in primaries, regardless, ultimately, it will change the median voter and there is a lot of evidence, like you sided with your example, the commission on the statement. a lot of scientists say that we live on two different universes. it would strike me when you say that we change anything -- that means that we have to change attitudes. but my question is that one issue that i see is fox news. which is a 24/7 propaganda machine. i'm curious about your views in terms of what is influencer fox news on the attitudes and the dia

. >> guest: her father is a noted researcher at the university of chicago and opens the hospital in iran and she is born marion spends a lot of her childhood fall and her parents from the middle east and in some places western europe so a lot is outside of the united states. so when she meets barack obama in 1991 at the cafe in chicago they have a childhood spent overseas. they grew in muslim countries and iran and indonesia and the have a different perspective. they are definitely on the left part of the american political spectrum in the they have a sort of disdain for what they control american parochialism and that becomes a bonding moment for the imperial but let's not forget who valerie is to be obama's. she is the gilded or to date way into the establishment. she knows everyone from across person successful family there's been successful for a long period of time. the deputy chief of staff to stop the development project and went to stanford law school rather than michigan law school. someone that is a very influential and very connected and very powerful and is able to do benefic

her father is a noted blood research aerothe the university of chicago. and it hopes the hospital in iran and she's born there. she spends a lot of her childhood spholling her parents around the middle east and the developing world and in some cases western you were. when he meets barack obama, in 1990, at the cafe in chicago, they a lot in common. they had a childhood spent overseas. they both grew up in muslim countries. iran and indonesia. they have a different perspective, they're definitely on the left part of the american political spectrum, and they have a sort of disdain for what they concern american per robing lymph. that becomes a bonding moment for them early on. let's not forget who valerie is to the obamas. she's the gilded arch gateway in to the establishment. she knows everyone. she's from a prosperous and successful family that's been successful for a long period of time. >> host: she herself was successful in chicago. >> guest: absolutely. she was the deputy chief of staff. went stanford law school. stanford rather than michigan law schoo