on the putnam prize competition, which was kind of the big college math competition, i did beat him ourophomore year. emily: how did you get to know bill? what was your relationship like in school? steve: we got to know each other, ate lunch and dinner, took math class together, brainstormed a little bit about what he was doing when he started microsoft. about year after the company moved to seattle, bill called up. i was at stanford business school, and he said, "we could really use a guy like you." emily: you joined microsoft in 1980. you were the 30th employee. wasn't there a time during this first few weeks where you are thinking, "i don't know if this place is for me, and maybe i should quit?" steve: bill and i were arguing. i wanted to add a bunch of people. bill did not want to add them. he kept saying, "steve, you are going to bankrupt this place." i thought, "why did i drop out of school?" bill and his dad took me out, and that's where i make up in my head that bill invented this computer on every desk and in every home. he said something like, steve, you don't get it. we're go

we have lenny glynn, the director of policy for putnam investments. he has really been a thought leader on many of these issues and actually has a book coming out later. we are thrilled to have the three of you here with us this morning to talk about this important issue. we just had the chairman talk about tax reform and savings and onwth, but you all focus long-term financial security and retirement security. .e will start with you, chris how important is the code to spurring investment? >> i think it is critical. we have about 80 million households that have saved in in order of $25 trillion defined benefits, defined contributions area much of it is supported -- contributions. the of it is supported by tax incentives given to employers and individuals. we have 100 people in the fields talking with individuals everyday about enrolling in their employer-sponsored plans, and we see this difference when that there is a benefit to enrolling. jill: let's bring in greg. sorry about that. greg, it is the context of tax the steps to take as part of the effo

on the putnam prize competition, which was kind of the big college math competition, i did beat him ourophomore year. emily: how did you get to know bill? steve: we got to know each other, ate lunch and dinner, took math class together, brainstormed a little bit about what he was doing when he started microsoft. about year after the company moved to seattle, bill called up, i was at stanford business school and he said, we could really use a guy like you. emily: you joined microsoft in 1980. you were the 30th employee. wasn't there a time during this first few weeks where you are thinking, i don't know if this place is for me and maybe i should quit? steve: bill and i were arguing. i wanted to add a bunch of people. bill did not want to add them. he kept saying, steve, you are going to bankrupt this place. i thought, why did i drop out of school? bill and his dad took me out, and that's where i make up in my head that bill invented this computer on every desk and in every home. he said something like, steve, you don't get it. we're going to put a computer on every desk and every home. i

and we have lenny glynn is a director policy for putnam investments who has really been with bob reynoldsm. as a thought leader on these issues and you also have a book coming out on this. we are thrilled to have the three of you here with us this morning to talk about this important issue. so, we just had the chairman talk about tax reform and savings and growth. but really, you know you all focus on long-term financial security in retirement security. so we will start with you chris. how important is the code to really spurring savings and investment? >> i think it is critical. i think we have 80 million households that have saved in the order of $25 trillion in defined benefits, defined contribution plans, iras, and annuity products. much of it is supported by the tax incentives that are given to employers and individuals. you know we have 100 people in the field talking with individuals every day about enrolling in their employer-sponsored plan. and we see the difference it makes when they realized that there is a cash benefit to enrolling in the plan -- it is very important. >> me th

rob putnam writes a bunch of stuff on how we are segregating ourselves into various classes, various groups and his politics try to exploit that, we are going in the wrong direction. .. >> i talked to him a lot. i brought this up a bunch of times and unprompted, i think there is enthusiasm and desire. i think we spend a lot of our time working on this. so we are probably farther down the path on this issue but i sense nothing but enthusiasm and desire to get moving on this. and i spoke with donald friday about this so i do believe there's a big desire and a lot of enthusiasm for this. >> do you have a lead on it, is that fair to say? >> all bills start in the houseand run through congress . there's this other thing the senate, i forget about those guys sometimes. so this is something that, i don't know if leave is the right word. this is a very high priority and we all want to work on this. >> as you move down that path, i wonder how you deal with, there's kind of a long-term notion of getting this right so it works in the long run. there's also the short-term human element which is

bob putnam writes a lot of stuff on this, about how we are segregating ourselves into various classes, various groups, ended our politics try to export -- exploit back, we are going in the wrong direction. our politics needs to break down those barriers and seek policies that stop the stratification of our society and get back to this beautiful idea of the melting pot or whatever you want to call it. that is the challenge in front of us right now, and the opportunity. think it is fair to say that you and the house republican caucus have established -- on this. what about the incoming trump administration? haveou had any conversations with him? brought this i've times anda bunch of unprompted. we are probably farther down the path on this issue. i since nothing but enthusiasm to get working on this. i spoke with donalay aut this. i do believe there is a big desire and a lot of enthusiasm for this. moderator: you have the lead on it? is that fair to say? ryan: all bills start in the house, there's this other thing called the senate. i forget about that sometimes. moderator: i was just g

bob putnam writes about how we're self-segregating ourselves into various classes, into various groups. and if our politics tries to exploit that, we're going in the wrong direction. our politics needs to break down those barriers and seek policies that stop this stratification of our society and get back to the beautiful idea of the american idea, of the melting pot or whatever you want to call it. that to me is the challenge that's in front of us right now. and the opportunity that's in front of us. >> i think it's fair to say that you and the house republican caucus have kind of established this issue because of the work you did-the last couple of years. what about the incoming trump administration? what's your sense? have you had any conversations with them? >> i brought this up with him a bunch of times. he as well, unprompted -- i think there's enthusiasm and desire. i think we've spent a lot of our time working on this. we're probably farther down the path on this issue. but i sense nothing but enthusiasm and desire to get moving on this. and i spoke with donald friday about thi

a sanctuary city that is supposed to putnam county makes the residents of putnam county less safe. a spillover effect and then this affect surrounding counties. it's going to be an interesting four years. it is day two of donald trump's presidency. a busy week ahead of us. we appreciate it. >> clayton, thank you so much. in putnam county, we celebrate naturalization. we celebrate immigrants coming here. great ceremonies of public officials. this is about criminal illegal aliens, people who are here illegally and commit crimes against their citizens and people. that's why it the country are standing up for. >> well said he thank you so much. clayton: the president are to take action on obamacare. so what's next? an idea when we break down trump's first 100 days, not. -- coming up. i'm all the techy stuff you got crammed into your brand-new car. i'm so sexy, you can't keep your hands off me. do it again. there you go... i can do whatever you want. except keep your eyes on the road. now would be a good time to have new car replacement. so get allstate and be better protected from mayh

putnam discovered it in the ceremonial office now in this building, it was the librarian's office, a safe he opened something, and the story goes that no one knew the combination so they extricated a gentleman from prison who was known to be very handy at that type of thing, and had him come and opened it up and when they opened the safe there was only one thing in the safe and it was a small battered box that had been given to the library of congress by abraham lincoln's granddaughter, and inside with the note was "these are the spectacles, a few articles that he had clipped that were critical of him and all of those things, and it really resonated with me because abraham lincoln is buried, of course, in springfield, illinois, in the same cemetery that all of my relatives are buried. there's only one cemetery in springfield, so we would, that was traditioned in the land of lincoln but i'll find something else i'm sure. >> every day a discovery just knocks my socks off, but if i had to choose one, i would choose three. the charters, the charters of freedom, the declaration, the const

lord putnam says it may be duebe to a lack of direction from diro being able to do pretty much mh anything.. >> hence the affluenzaffluenza defense, remember.nse, >> yeah, i do. yeah, i do. outrageous and outrageous. >> yeah. >> doesn't seem like aik a snuggling story comes up >> sadly. >> yeah. >> she's making money.'s makinm. >> okay. >> she's only snuggling. >> okay. >> back to you. >> friend.fr >>> a lot of big surprises atofr the sag awards last night.pr the awceremonyar tdsurned a lite political. celebrities taking aim at aim president trump's immigrationign ban. the to, beat is next. >> ♪♪ the bakery flavors you love... [ ding! ] ...now available in your dunkin' coffee. sip in the happy with a medium vanilla cupcake, or new fudge brownie macchiato or latte for $1.99 from 2:00 to 6:00 p.m. america runs on dunkin'. >> 6:45:garrisonville virginiaar just outside as much quantico for a many point of reference.rn little bit of snow.s i can vouch for other parts offf virginia getting some snow assnw well overnight.ll o

. >> i know that bob reynolds and you guys at putnam and power retirement have given a lot of thought on this topic. i would like to ask you your thoughts as well. >> sure. to echo what chris said, the code is absolutely the dna of the retirement system in the country. there is a reason why we call these things 401(k), 457, 403b. the way it is scored as greg pointed out is erroneous and needs to be corrected. the simplest comparison i could make is imagine you give me a dollar e dollar and i keep it. that an expenditure. you give me a second dollar and two weeks from now i give you back 50 cents or a dollar or $4. those transactions exactly equal? obviously they're not. but if you add ten-day window to judge, you're out there are 2 at ten days. and we actually escalate that absurdity to, to guide our budgeting on retirement savings. so we wined up pitting personal solvency of americans and national solvency against each other and we agree as greg would argue that they reinforced each other. and in fact, the flow is from the cap -- from millions, tens of millions of american savors pro

and i just finished robert putnam's "our kids." definitely read it. for the elite colleges, it's a 14 to 1 ratio of whether you're going to go to one of the elite schools as a poor kid. and i think universities have become so lopsided in their ideology they can't see -- in some cases administrators can't distinguish what they think a good person should say from absolute truth. and i always refer back to my father. my father was russian. my mother is british. you can't have two people of more different cultures and still remain within europe. but my father would always teach me that the first rule of dealing with other cultures or people not like you is to try to figure out where they're coming from and what their norms are, not to impose your norms immediately on them. and as my father would explain in non-p.c. terms, if you don't, you're acting like hick. [laughter] and what i see going on today is this -- it does, i nearly called unlearning liberty new victorians because i see a lot of parallels between the victorian era and this very self-confident