mr. sloan, thank you. colleagues, we'll stick to five minutes, we'll get in as many as we can. i'm going to ask one question of all of you. i'm going to start with you, mr. stack. i have been about as big a flag waver for comprehensive tax reform as anybody around here. and i am going to continue to keep pushing for bipartisan tax reform as aggressively as possible. the reality is nobody believes that you can get comprehensive tax reform passed this year. and with the investment bankers in that inversion feeding frenzy, there may be 25 more inversions during that time. so, i'm just going to go down the row here this morning and ask each of you, will that be a bad thing for america? mr. stack? >> yes, senator, that's a bad thing for america. that money is not just a one-time hit. that is a hit we take the year a company inverts. and it's a cost we incur throughout the ten years of a budget window. in addition, i just want to add, companies not only reduce their u.s. tax bill on day one when they

month they are giving banks truly intend trillions of dollars and the average person -- >> host: mr. sloan? >> guest: i didn't hear the previous show that what we are supposed to talk about that i have been to note is that several years ago i sat down to figure out how much the bailouts of the financial institutions had caught the u.s. treasury and much to my surprise, i discovered the treasury had actually made money on them. not a tremendous amount of money but the rich that was involved and the amount of money that was involved in at the treasury came out ahead. so i'm not sure that i understand the question but i'm answering it as best i can. >> host: the money that is going elsewhere in the united states and the companies not paying in the treasury is the equivalent of our national debt? could that help pay down the national debt? >> guest: what is it, $16 trillion. that's more than the corporate profits for the whole world. to the extent that the treasury is collecting i think it ought to because the companies have adverted that increases the deficit and the debt but it's not enough

mr. sloan's, that's the place where i believe the market is yet to discount what we see is a very stable and persistent growth over the next two to three years, and for that matter, you could see this cycle even go further into the decade. >> ron, you touched a bit on the geopolitical jitters that are out there, but it doesn't seem to be dissueding you from putting money into the market longer term. >> no, and i think, yes, in the short run we could have a trading move, and it could be largely impacted by the geopolitics that's going on, but i think that if we're talking about everybody, putin included, is very focused on economic growth. and so as long as people are focused on that, there's nobody that wants to take the world back into the dark ages of recessions and depressions and those kinds of things. worldwide, really, whether it's chinesing money again or whether it's putin perhaps drawing back from the ukraine. >> okay. thank you guys. >> i think the leadership is in cyclical stock. >> excellent place to leave it there. thank you very much. ty, up to you. >>> thank you, it is the

mr. allan sloan, the senior editor at large for "fortune" magazine. our thanks to all of you for coming. it's our custom that your prepared statements will be made a part of the hearing record in their entirety. if you could use your five minutes to summarize, that would be helpful. i know senators have many questions. we're going to have votes at 10:45. this will be a bit of a juggling act. we will try to handle this as well as the chaotic senate schedule allows. mr. stack, welcome. >> thank you, senators. chairman wyden, ranking member hatch and distinguished members of the committee, i appreciate the opportunity to appear to discuss these important international tax issues to which your committee has devoted substantial effort i'd like to begin by describing the work we're doing in the g-20 base erosion and profit shifting or beps project. then link that discussion to consideration of the need for international tax reform, as well as measure, outlined in the administration fy-2015 budget proposals to address u.s. base stripping including through so

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mr. mazillo. so my guess is he will engage in some sort of settlement. >> all right. melanie sloanoining us from washington, d.c. >>> well just a couple of decades ago, ferguson, missouri was a thrivering middle class suburb, we'll looked at what changed before the racial crisis that grips the city now. that and more as "real money" continues. keep it here. ♪ >> al jazeera america presents borderland's dramatic conclusion >> no one's prepared for this journey. >> our teams experience the heart breaking desperation >> we're all following stories of people that have died in the desert. >> and the importance... >> experiencing it, has changed me completely... >> of the lives that were lost in the desert >> this is the most dangerous part of your trip... >> an emotional finale you can't miss... >> we got be here to tell the story. >> the final journey borderland continues... >> now available, the new al jazeea america mobile news app. get our exclusive in depth, reporting when you want it. a global perspective wherever you are. the major headlines in context. mashable says... you'll ne