technologies, the free market is beating coal adam smith is spinning in his grave as we're listening to the republicans talk about the need to prop up the coal industry against competing technologies, like natural gas, like wind. as a matter of fact, he would actually qualify as a new energy source, that's how much energy he's giving off right now in his grave listening to the republicans bleeding about the rise of natural gas and wind as competition to coal, especially with these plants that are 50, 60, 70, 87 years old. now, here's the interesting thing. in the waxman markeil the house of representatives built in 2009, we built in $60 billion between now and 2030 for them to be able to install

congressman adam smith, ranking member of the house arms services committee has a couple of panels and he's made the point that by jawboning this whole thing, don't worry. we don't have to worry about the initial intent senator graham and others, i don't need to worry about it. he says the other point and the biggest supporter of the military as he is fort lewis and his district, they're not interested about worry budget defense budget. they're worried about whoopths to the -- their retire am incomes and they're worried about medical care and when the senator was talking, the issues he brought up about the guard and everything else. the chief of staff, the air force, the secretary of the air force made difficult decisions on cuts and active duty. both the house and the senate, you can't touch the air national guard. so, again, everything's going to have to be put on the table. how do you convince the american people how serious this is? >> let's take this other question, too, and go down the panel. >> hello, i'm matt keen from the observatory group. this is a question for steve bell. l

of some of what we get is that we've over emphasize the view of adam smith. living and up period to evangelize to the world. put it to move to the business offices coming out a few years ago to see the change and i guess the pendulum is swinging back. we are moving out of it the favorite way to give back to the committee what level is corporate tax rate and why? there are lots of economists who say it should be zero because of double taxation because of the firemen's pension fund has money in the stock market. what do we want to do about corporate taxation? there is a plausible argument setting it at zero those that suggest maybe it should not be. those who read the fine themselves with the partnership. but groups of lawyers or accountants but you can do that. and other organizations make your age big organization but impose cost on society. but the fukushima and nuclear power plant caused a huge disaster now you cannot go after the shareholders that profited from a power plant not done right to then afterwards to say you cannot take it from us. the taxpayer

bush era, it is firmly planted in adam smith's 1700s.icies are worse than merely been there done that, going backwards to those policies would actually sabotage our future in this global economic climate. you been in this movie before, folks, and we know it leads to economic tragedy. but the nice thing is, in november, you have the power to choose the way the story end. [[vo]]joy behar is coming to current tv for one week only until the fall. what happens if you ask her to tone down her opinions? >>sorry, i can't hear you. what? [[vo]]or tell her she has to stick to a script? >>forget it. [[vo]]that will never happen on current. >>try to be a little more the airplanes are going to get from one part of the country to the other without any air traffic controllers. i mean this is ridiculous and mitt romney ought to know better. i stand with our public employees and cops and firefighters and their teachers? the new slogan should be "we own wall street." that's my view. desk top, lab top, ipad. iphone. >> pleasant your hearts. >> the big one.

this is not adam smith living in an environment living with industrial policy of defining the outlines of the market and the incentives. so that being the case, it seems to me that the first major question that we, the united states, have to answer is, how important do we think it is for the united states to have a capability in these technologies? and when i say capability, i mean technological capability that is an understanding of the technology and the ability to do research in the technology and somehow to remain at the leading edge of research but also because it's often difficult to remain at that leading edge without some competitive productive capability. then the question also arises to what extent is it necessary for us to have a commercially productive competitive productive capability? and that question has to be asked not for the short term but for the long term. because the nature of these kinds of industries is that they are characterized by economies of scale, by doing by learning, by path dependence and so you don't get to there unless you kind of have gone through th

they are the party that makes adam smith look like a keynesian. they are lay say, lay say, no supervision, no supervision, no regulation, no discipline which those who would exploit the system for privatizing the gain and nationalizing the risk. and our financial transactions. less say, less say, laissez-faire in terms of they don't want initiatives with clean air, clean water, public education, public transportation, public health, medicare, medicaid, social security. this is what they believe, no government and bless their hearts they act upon their beliefs and their beliefs are dangerous to the thriving middle class in our country. so we see so much of it coming together, why would they oppose initiatives to create jobs? the president's american jobs act. some people call it obstruction. it is obstruction, but obstruction is their orthodoxy. they don't believe in a public role. so it's not that they're obstructing this way of getting something done, but it's no way for them. that's why they take pride in being the do-nothing congress. everybody

adam smith is spinning in his grave as we're listening to the republicans talk about the node to prop up the coal industry against competing technologies like natural gas, like wind. as a matter of fact, he's spinning so fast in his grave that he would qualify as a new energy source that's how much energy he's giving off listening about the rise of natural gas and wind as competition to coal especially with these plants that are 50, 60, 70, 87 years old. now here's the interesting thing. in the waxman-markey bill that the house of representatives passed in 2009 we built in $60, and between now and 2030. for them to be able to install carbon capture andy is quest raigz technology. the electric utility industry, they supported it, but and the coal industry said no. that's's lot of money and a lot of investment in you in technology that the democrats built into their legislation so that they could innovate and so that they can improve and become more competitive with the natural gas industry. the coal industry said no. no. we're not going to move and that's $60 billion of funding and $20

and washington would sometimes use the invisible hand of adam smith, and then he saw no contradiction in turning to the visible hand of the use of government to actually run what he called laboratories. we call them factories, to manufacture the weapons that the republic needed to survive. and it was that sort of flexibility that, i think, was a key to what was going on here. he kept cultivating the art of silence and reserving his conduct with others. he was of the first generation to use the phrase public opinion, but he was not a democrat. he thought it was important he accepted the idea of the sovereignty of the people. he believed in the elections as fundamental to all of that. it never occurred to him he should choose his policies on basis of their popularity. in that way, he was very different from what would come later. he thought it was important that he should show himself to the people and so he toured the country twice, a huge labor to go from maine to georgia as he did so that he could really represent to the american people what was happening. he had the capacity for gro

adam smith authored the legislation,. this law would give same-sex couples the same benefits if their marriage has been recognized by the district of columbia or one of the states where gay marriage is legal. >>> for the first time a attorney general is being held in contempt of congress. he refused to turn over documents related to operation fast and furious. the vote was along party lines with republicans in voting in favor of the charge. most house democrats walked out calling it disgraceful, saying it is an attempt to embarrass the obama administration. eric holder is calling the vote misguided and political theater. >> today's vote is the culmination of what became a misguided and politically motivated investigation during an election year. >> the vote will be referred to the u.s. attorney's office and then the justice department which is led by eric holder. >>> we continue to follow breaking news in san francisco, ktvu's david stevenson reported on and our first pictures of ross mirkarimi, he just now entered entere

they are the party that makes adam smith look like a keynesian. issez faire. no regulation, no discipline for those who would exploit the system for privatizing the game and nationalizing the risk. in our financial transactions. laissez faire in terms of not wanting initiatives like clean air or clean water, public education, public housing, public health, medicare, medicaid, social security. this is what they believe, no government and bless their hearts, they act upon their beliefs. their beliefs are dangerous to a thriving middle class in our country. we see so much of it coming together. why would they oppose the initiative to create jobs? jobsresident's american act text some people called obstruction. it is obstruction but obstruction is their orthodoxy. they don't believe in the public role. it is not that they're obstructing this way of getting something done, it is no way for them. that is why they take pride in being the do nothing congress. everybody knows that our founders had in mind that there would be a public role and we would have a public/pri

a group includes congressman adam smith that says this case qualifies as kidnapping.time could be running out for him to leave prison alive. i want you to take a look at how he landed in this situation. >> it's one of the most dangerous prisons in the world. an american who just about everyone says is innocent has been here for 18 month, serving a sentence of 22 years. his name is jason puracal. >> it's very hard. it's tough. >> he joined the peace corps, hoping to work with exotic animals around the world. in 2002, he was stationed in nicaragua. his sister said he was struck with the beauty of the country. >> he absolutely loved it. he decided to stay there. >> reporter: he met and married a local and moved to a beach town. they have a son. puracal began working in a real estate office. he was even featured on hgtv's "house hunters international." >> approximately two hours from the capital. >> life was good. he was raising his son in the community he says he loved and finding success with his company. but everything changed on november 11, 2010. on that afternoon, n

we have senator carl levin who chairs the committee, john mccain on the senate side and democrat adam smithm california. they're all supporting it. hopefully that's a good sign if we can get it in a committee of conference. >> joy: i can't believe anybody would try to block this kind of legislation. salutes the military. we always talk about how much we love the military. what they do for us, how the sacrifice is enormous. then this. it's really kind of heartbreak heartbreaking to hear stories. there was a film that i saw about the subject. i think it's really disgraceful and i'm amazed it took this long for someone like you to even have to bother with this. it shouldo-on the books. >> there have been a number of attempts to address this over the last 20 years. none of them have been successful getting through the house and senate. we hope this time people will understand that it's really not fair. it's not fair to the women who are in far parts of this world who are on the battlefield of afghanistan serving far away from home. if they are the victims of a rape, they don't have access to a

. >> you can go back to adam smith who wrote the great book of economics in the 18th century. and one of the pieces is that markets work best when information is either free or it's very low cost. right now the information in these markets is heavily weighted toward the wall street firms. >> charlie: meaning what? >> well, it means when you come together to buy or sell these derivative products, interest rate swaps and -- wall street has the advantage. you can't turn to the new york stock exchange or turn and open up "the new york times" and see here's where it's priced, or see on the internet, as well as what you can in what we call the futures market or the securities market. so why don't we bring those great reforms of the 1930s to this vast marketplace called swaps. if they bring some of that, buyers and sellers have to compete in the marketplace. yes, it may well be that five or six or ten big firms here in the u.s. earn a little less moy on these, but it means all the users of these products get a better deal. >> charlie: okay. dodd-frank does not eliminate derivatives,

. >> the game within the game, you know, adam smith under the acronym of george goodman, this is as oldit's on going. we are gaming expectations. now we are playing the most heightened game of expectations americans have seen. it's based on what a central planner does best. >> the way i'm playing the game. >> are you gaming within the game within the game? >> karen has a way of giving analogy to the game as well. this is the gdx. i'm playing gold. germany said they refused to lend more money unless it's backstopped in gold. >> at the same time, are we foolish to think -- >> probably. just stop right there. >> foolish, that's a whole different question there. in terms of the impact on stocks, on asset classes, will it be the same as previous stimulus programs? this was given to us by our "fast money" friend simon baker. here you can see the first round of qe 1 markets up 80%. second round, up 33%. then the twist plus the ltro at 29% return here. >> each of the returns has been a little bit less. talk about pushing -- >> less and less. >> i don't think the markets. look what happened. we

amazing amounts of stuff we're talking about is actually in adam smith >> reporter: as a columnist, author and teacher krugman has been become known as a voice of the left. but back in the '80s he was a critic of union-backed anti-free trade economics. >> did you have a conversion experience? what happened? >> no. in the current contest because i'm defending an active government role, it's interpreted as some kind of a marxist or a stalinist. this is just economics >> reporter: are you surprised? no. i'm well accustomed now to the notion that anyone who challenges wisdom and anyone who calls out people on the right side of the political spectrum for what they actually do and say is going to be demonized. is going to be made out to be in kind of an extreme leftist >> reporter: krugman's targets have their own complaints. krugman writn writes with more t reoal than i find attractive says the harvard economist. from a trio of george mason university economists: krugman regularly demonizes his opponents. he treats anyone who disagrees with him as a mendacious idio he is an ideologue rather tha

and even as adam smith knew, only external regulation can prevent externalities, prevent monopolies. you got to have a clear argument about what capitalism is, why it's good, and how to make it better. and, as i see it, the left hasn't done that. >> this is pledge time for public television. some stations with be stepping away from us briefly to ask for your support. for the rest of you, we will resume in just a moment. >> announcer: we now continue with "moyers & company." >> does your research suggest it's preferable to have a greater moral range? >> when i began this work, i was very much a liberal. and over time, in doing the research for my book and in reading a lot of conservative writing, i've come to believe that conservative intellectuals actually are more in touch with human nature. they have a more accurate view of human nature. we need structure. we need families. we need groups. it's okay to have memberships and rivalries. all that stuff is okay, unless it crosses the threshold into manichaeism. so i think that it would be very difficult to run a good society without res

they are the party that makes adam smith look like a keynasian. they are lay say, lay say, lay -- lay zeh fair laysa fair. no discipline. to those who would exploit the system for national -- for privatizing the game and nationalizing the risk. and our financial transactions, laisse fare. food safety, public safety, public education, public housing, public transportation, public health, medicare, medicaid, social security, this is what they believe eb, no government and bless their hearts, they act upon their beliefs and their beliefs are dangerous to a thrive middle class in our country. so we see this coming together. why would they oppose initiatives to create jobs? the president's american jobs act? some people call it obstruction. it is obstruction but obstruction is orthodoxy. they don't believe in a public role. so they don't -- it's not that they're obstructing this way to get it done. it's no way for them. that's why they take pride in being the do-nothing congress. everybody knows that our founders had in mind that there would be a publi

they are the party that makes adam smith look like a keynesian. they are laissez, laisseez, laissez faire. they support those who would privatize the system and nationalize risk. in our financial transactions. laissez faire in terms of they do not want any regulation for public housing, public education, public health, social security -- this is what they believe. no government. bless their hearts, they act upon their beliefs. their beliefs are dangerously thriving middle-class in our country. so you see so much of a coming together. why would they oppose an initiative to create jobs? the president's american jobs act. some people called obstruction. it is obstruction, but obstruction is their orthodoxy. they do not believe in a public role. it is not the they are obstructing this way of getting something done. it is no way for them. that is why they take pride in that they do nothing. everybody knows that our founders had in mind that there would be a public role, that we would have a public-private partnership, and that the education of our chil

this is not adam smith. we are living in an environment in which industrial policy is defining the outlines of the market and the incentives. so, that being the case, it seems to me that the first major question that we have to answer is how important do we think it is for the u.s. to have a capability in these technologies? when i say capability, i mean, a technological capability. that is an understanding of the technology and the ability to do research in the technology, somehow to remain at the leading edge of the research. but also, because it is often difficult to remain at that leading edge without some competitive, productive capability, then the question also arises, to what extent is it necessary for us to have a mmercially-productive, competitive, productive capability. that question has to be asked not for the short term but for the long term because the nature of these kinds of industries is that they are characterized by economies of scale, by doing by learning, by fact dependence. you do not g

they are the party that makes adam smith look like a keynesian. they are laissez, laisseez, laissez faire. they support those who would privatize the system and nationalize risk. in our financial transactions. laissez faire in terms of they do not want any regulation for public housing, public education, public health, social security -- this is what they believe. no government. bless their hearts, they act upon their beliefs. their beliefs are dangerously thriving middle-class in our country. so you see so much of a coming together. why would they oppose an initiative to create jobs? the president's american jobs act. some people called obstruction. it is obstruction, but obstruction is their orthodoxy. they do not believe in a public role. it is not the they are obstructing this way of getting something done. it is no way for them. that is why they take pride in that they do nothing. everybody knows that our founders had in mind that there would be a public role, that we would have a public-private partnership, and that the education of our chil

adam smith sent to mr. mitchell, the other way around, mr. schmich l to mr. smith, on second of february, 2007, we can bring -- prfn we can bring it up on the screen for you. on the file. come up in a minute. there we go. it says i did tell the labor letter what was thinking. whether you assist on the matter. you can tell us where we are on in the chronologies, this is the second of february. what's happening at this time? >> the bid is not being rereferred to the competition. it was understood at that the time undertaking were not being considered. they were not forly enough to paroling element in march of 2011, if that helps. it may be that you have no rex or maybe you do. >> i didn't. i don't think i met -- i'm pretty sure i didn't immediate fred micel. -- michel. meeting of the opponents of the bid proponents of the bid i don't know. >> be careful because times he referred to people recipients of that provides information which actually means a member of that person's staff. >> well, we simply don't know. i've been asked to bring that to your attention. y

adam smith sent to mr. mitchell, the other way around, mr. schmich l to mr. smith, on second of february, 2007, we can bring -- prfn we can bring it up on the screen for you. on the file. come up in a minute. there we go. it says i did tell the labor letter what was thinking. whether you assist on the matter. you can tell us where we are on in the chronologies, this is the second of february. what's happening at this time? >> the bid is not being rereferred to the competition. it was understood at that the time undertaking were not being considered. they were not forly enough to paroling element in march of 2011, if that helps. it may be that you have no rex or maybe you do. >> i didn't. i don't think i met -- i'm pretty sure i didn't immediate fred micel. -- michel. meeting of the opponents of the bid proponents of the bid i don't know. >> be careful because times he referred to people recipients of that provides information which actually means a member of that person's staff. >> well, we simply don't know. i've been asked to bring that to your attention. y

congressman adam smith, he's made the point that by jaw boning this whole thing, don't worry. we don't have to worry about the initial intent, and senator graham, i don't need to worry about it. he said his biggest supporter of the military as he is, fort lewis and his district. he goes back to his district, they are not interested about worrying about the defense budget. they are worried about what's happening to their retirement incomes and what's happening to their medical coverage. when the senator was talking, the issue she brought up about the guard, the chief of staff, the air force, the secretary of the air force made difficult decisions on cuts and active constitute doo it. both the house and senate, you can't touch the international guard. again, everything is going to have to be put on the table. how do you convince the american people how serious this is? >> hello. i'm ed keen from the observe tori group. this is the question for steve bell. let's supposed for the sake of argument that an agreement is not possible during the lame duck session on the se quest ration

adam smith sent to mr. michel -- sorry, is the other way around. you can bring this up on the screen. this is page 12761 any -- in the mod3 file. it will come up in a moment. there we go. it says "i did tell the labour leader what the core of our thinking was -- " >> perhaps you should tell us where we are in the chronology. this is february 2. what is happening at this time? >> the bid has not been referred to the competition commission. i think it was public knowledge at that stage the undertakings were being considered, but undertakings were not being formally announced to parliament until march 3, 2011, if that helps. it may be that you have no recollection at all. it may be that you do recall. >> i think it would have been the case -- he was definitely having meetings. ivan lewis was meeting proponents of the bid. >> one has to be careful, because sometimes mr. michel referred to people as recipients of the information or providers of information, when actually he means a member of that person's staff. >> we simply do not know in this case. i

i want to thank chairman bud mckeon and ranking member adam smith, their loud language to be in the bill that basically says they hope that the marine corps will work to clear the names of these two pilots. and mr. speaker, i want to thank the press that has taken on this effort also. one thing about voltaire, we owe the living our respect. we owe the dead the truth. and this effort has all been about is trying to call on the marine corps so the american people respect, i respect to issue the letter to trish brow and connie gruber. mr. speaker, all the lawsuits over. and i look at this letter from mike morgan -- and i don't read it because the first septemberens is about me, and he says i fully support the extraordinary effort that you have undertaken to this effort. i will close, mr. speaker. this is from phil stackhouse. he says, i do not -- and again, this is one of the three investigators. he said, i do not believe that it would be a surprise to anyone that it is my opinion the mishap was not a result of pilot error but was a result of a perfect storm of circumstances. mr. speaker, t

betty white has a wax figure, lindsay lohan channels he liz benl tailor and adam sandler hitting the red carpet. >> rachel smithas details for us in today's entertainment report. >> carpet was red but casual for adam sandler as he promoted his new comedy "that's my boy". co-star andy sandberg suited up where the two celebrated their non-kid friendly movie. >> it's not family friendly. >> i'm not going to get as many moms saying my kid enjoy that had movie. i'm going get a mu moms yelling at me. it's rated "r". >> lindsay lohan just started shooting the upcoming elizabeth tailor movie. here is the first official photo showing lohan and bowler playing richard burton. >> betty white has been honored with a wax figure at madam tousseau's. >> it's a weird feeling and she won't look at me. she hasn't glanced at me one time. >> she's the oldest celebrity to get a figure at the museum. and for her first interview go to otrc.com. i'm rachel smith in los angeles. >> oh. >> yes. >> and that is scary there. >> still ahead a partial victory for ross mirkarimi. we'll have details on what happened in court today. >> and then