the big ben bernanke oh it's over max it's also known as the heart of resubmit the tongues of the wescott wind and the headline that goes with this q e three will not fix america's problems warns paul volcker paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the us well why i am a federal reserve bank which is the lender of last resort responsible for taking the punch bowl away when the party gets to rot is not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk bond that these investment banks that used to destroy the economy they'll take in their buyer and very garbage bond out there this was to be the buyer of first resort just went through the lender of last resort think completely screwed this thing up they got it all backwards and paul volcker of course back in the seventy's early eighty's he took interest rates up to sixteen percent to squeeze ou

. >> guest: just go to show with wescott called smiley and wescott go figure. a list of our public radio program enacted in the media for 20 years and most of that is spent on pbs and public radio and i just spent the more geordie of my career trying to do good work on public tv and public radio. they matter more now than ever. it is a referendum on whether or not work when the public television and public radio. that's another conversation. there is a program where you get a chance to talk about issues of the day and it's really our listeners who pushed us, hearing us talk about this for 20 years, talking about these issues on the radio program for a few years now. listeners started pushing us to think outside of the box and think what we can do beyond the studio to try to really push this issue of poverty higher on the american to make poverty a priority. just pushing us in offering ideas that got me thinking about what would happen if we take a year or so ago the united states 18 cities to try and get a new portrait of a poverty in america look like an out o