inflation is down, according to alan greenspan's confederate model. i think we need to use a new contacts, context to determine what causes inflation. inflation on an international level, it is monetary. low wages is not the solution to inflation, it is the cause. i think we have to as a nation, embraces a new business model, and a new social model. i think that is one of the things that barack obama was talking about in his campaign. we are all in this together. this whole exposure of what has been going on in the housing markets and the madoff thing, it shows that when americans come together like we did in world war ii, basically americans have to come together and look at ourselves as americans. host: let's go to the next caller, on the independent line. caller: i am concerned about inflation. i read a book called, bad money, in that book they identify a situation that george bush made during his first years in office he redid the way we calculate inflation. we used to have a way -- going back 10 years -- we used to have a bread basket of things w

the person that should have been in that seat was alan greenspan, who got us in this mess. and these republicans sat there and green light and all of those policies because they were in charge and they did no oversight. as a result, business people and the very people that they claim they are ousoul in favor of, are the very people that they have screwed. >>host: 00 " inflation is the bg threat to a sustained recovery." "i see inflation as the greater challenge. inflation is the greater concern giving beat pending avalanche of government debt about to be unloaded on the financial markets." it could lead to political pressure on the central banks to print money on the newly issued debt. let's go to our next call. jason, silver spring, maryland. caller: good morning, c-span. thanks for everything you are doing. i just wanted to mention that it is really not one federal reserve chairman. the whole history of the federal reserve is not a bright one. it is pretty murky. it has been around less than 100 years, and it was brought about to avoid the things that we are going through

alan may be a nice guy and he may be smart as a whip. we also have mrs. napolitano who is the head of homeland security and it is her statutory responsibility to be in charge of defending the borders of this country. in fact, it's the constitutional responsibility of every member of this house to defend our borders. but it's certainly her statutory responsibility to defend our nation. we have an energy department and the secretary of energy, i think, the best i can figure out, is supposed to be responsible for the energy department. now, i wonder why we have to have this energy czar. urban czar. well, we've got a department of urban development that's housing and urban development, h.u.d., that's been around for an awful long time. that is a cabinet post. so why all of a sudden do we need an urban czar? we never had one before. info tech czar. i don't know where that would fall in the purview of the established secretariats by the constitution, by statute, but somewhere. faith-based czar, we have dealt with the head of a faith-based initiative in the bush

host: but many point to alan greenspan's policies for one -- as one of the reasons we are in this edition today. guest: i would say i was one of his critics. because of the very end of his term, the fed that too easy for too long, and that 1% interest rate i think is at the heart of the housing boom, the housing bauble, and the bust. we can look back of that period and learn lessons, and the most important lesson is, don't do that again. i call it, get back on track, get back to what was working in much of the 1980's and much of the 1990's, and that would be a much better economy. i don't think we would have this kind of serious financial crisis if the fed had kept on track earlier. so the importance for chairman bernanke is to get back on track. host: i realize this is a simple question with a complicated answer, but how do you get to the golden locks economy? not too hot and not too cold? dr. of the fed is setting interest rates -- so the question is not to hell and not to hide -- guest: of the fed is setting interest rates, so the question is not too low and not too high. there was one

you have alan greenspan and other defenders of completely unregulated market suggesting such a downturn as normal, that it is part of a normal business cycle. that was completely unavoidable. arguing that it was almost like an act of god as random and unpredictable and natural as a 100-year-old flood to use greenspan's language. there is nothing immoral about what the world is experiencing today. to suggest otherwise smacks of a let them eat cake il elitism that shows alan greenspan is removed from the actual pain and suffering the crisis is causing the average american family. similarly, be suspicious of those that try to blame capitalism generally for the crisis. capitalism has done more to create growth and reduce poverty and inequality in the world than any economic system in the history of the world. let's be careful not to throw out the baby capitalism with the bathwater. a global capitalism knows no country borders and recognizes no national boundaries so it is not surprising that it has helped -- is this working -- it is not surprising it has helped the worst of the world in chi

[applause] >> thank you, my first pleasant duty is warmly to thank on behalf of us all alan williams for the magnificent and good humerd way in which he conducted this election. [applause] it's been a very long day. and those of you expecting a cumly lengthy die tribe will be sorely disappointed. i should like to thank and pay a heartfelt tribute to all of the candidates who stood in this election. [applause] it has been a constructive debate that we have enjoyed over the last few weeks. i confess that i have the highest regard for all of the other candidates, each brought something to the occasion, each had a contribution to make, and i can honestly say that each made that contribution in the most sincere and constructive fashion. to the great and continuing benefit of this house. [applause] colleagues, you will understand that my thoughts at this time are, above all, with my family. my wife, sally, our three very young children, oliver, freddy, and jemimea, not to mention my beloved mother who has been keenly interested in the proceedings. colleagues, you have just bestowed upon me

at the time, alan gracin a republican from florida was on this bill also. and now there is 222. we have been active in keeping a total on the books. and-- total on the votes. we're seeing more democrats to lot more transparency and an end to these bailouts. there is nothing that you said that i do not disagree with. i am pretty progressive. host: one of the aspects i have been reading about is the detainee potus. -- detainee photographs. guest: these are gone. it came on the radar when barney frank called me and said this is in the bill, and even people like me who want to vote for this bill will not vote for it. i think it was in there so that progress is would feel like they got something. in fact, that was what happens. president obama wrote a letter and said do not include the photographs. host: monet, missouri. and caller: first, i have a request of c-span, when the debate on the imf -- attached amendment was in the senate, and requesting that you pull up comments about that. jeff craigs explained this very well to his counterparts in the senate. host: what did he say? call

alan greenspan decided not to use it. there is a of and to avoid regulating some products. you could also argued that the banking sector is very powerful and powerful and lobbying. their executives meet with lawmakers appear. it is not just a new york issue. the have a lot of sweat with congress and have tried to prevent regulation over the years -- they have a lot of sway. you could say that maybe it is because the fed did not push all of this. there was opposition from the banking sector. there was opposition from the top of the government. we have had a policy for many years in the government that everyone should be able to own a home. if you look back to the first half of this decade, 2000, that these were beneficial rather than a concern. that kind of environment allowed this to curbing new -- that of a garment allowed this to occur. the credit card legislations, the fed had responsibility. given sentiment toward banks, the fed has pushed ford with credit-card regulations. the house bill largely mirrored fed regulation. the fed order passed in december and the house ma

matt kio, alan worth, john henry johnson, rookies came on to win three consecutive games for the a's. now, trying to get the fence to match the young pitchers. 1-1 count. cunningham the chopper. hendrickson throws to get out out. he has retired all seven batters he has come out to face. lled quesadillas, starting at $6.99. flame-grilled tortillas layered with chicken, bacon, cheese, and ranch. crispy on the outside, melted perfection on the inside. new fire-grilled quesadillas. only at chili's. . >> gary: and let's look forward to tomorrow's pitching match-up. and jason berken will face trevor cahill. he pitched well, unforth in thely he was facing edwin jackson. orioles will try to get it going against the 258-year-old left hander. dallas braden comes in at 4-5 on the season, 3.47 e.r.a. aubrey huff struck out in the first inning. interesting that the a's do not the shift against aubrey huff at all. third baseman and shortstop moving a couple of stems. shallow left centerfield. shortstop, cabrera, and he's got t one away here in the 4th inning. nick markakis, adam jones, both i

here's alan bestwick with more. >> what to watch for over 400 miles at michigan international speedwayfirst, this is who to watch for. carl edwards has been a master at that track in recent years. >> last year carl was one of the best at saving fuel. now we have a new guy, tony stewart. he got good at saving fuel at pocono on sunday. the roush-fenway racing team cars have been heads above most recently. >> i think when you get into a situation and everybody runs well, and you go back with your expectations higher, it seems it always works out. i know michigan gives options to drivers, they've got three or four lanes and they'll use every one of them. in a year roush has struggled, each of their drivers has said so. they were really good at pocono. despite the fact that the results did not show it of because it ended under fuel mileage. all three of the big three of roush were up front all day. >> with nascar's new double-wide race starts should be interesting to see those on the michigan wide track. >> they're going to exploit that. if you can imagine being sixth in the old system wher

i'm sure alan dunn came out and said, okay, it's a 2-1 ballgame. pitch count over 100. fastball still good. what do we want to do? this is a critical point of the game. the orioles want to get out of the inning, the nationals want to add to their lead. make it somewhat easier for john lannan if that's possible. >> bob: he stays alive. >> jim p.: if you're going to throw him any kind of a breaking ball, it's the perfect time. you have runners at first and second. throw a breaking ball or a change-up, throw it out of the strike zone. but do you want to speed up his bat? i guess that's the question. i'm not sure if you want to throw it knee high in the middle of the plate either. >> bob: he's about to throw his 20th pitch this inning which will put him at 110 in the 6th. hernandez making it tough to end the inning. anderson hernandez up the middle. willingham is not that fast. jones has five assists and the ball is dropped by wieters. josh willingham would have been out and the inning would have been over, instead it's 3-1 washington. >> jim p.: it's about how much he's go

south carolina on the republican line, alan. caller: we have got terrible unemployment here. i left long island in the hamptons because we were overrun with illegal aliens and having the same problem down here. i guess it is nationwide. we need to close the borders, close the ports, and just thing for america, america it comes first. host: on your governor, graham call for him to finish out his term, what you think? caller: yes, i think we have anarchy. i have just turned 50 years old. as a handyman i cannot find a good job here or anywhere i have been. the governor has got to go. host: the morning, on the democrats line. caller: commenting on your story about the iraq war. i think it is very important for us to re-define those missions now. there is no other country on the other side fighting. the importance would be to first develop a clear drawback on the troops and get support of the international help. that has been lacking. my great things to all the servicemen and condolences to the lost lives and others. host: we will talk tomorrow more on the show about that june 30

>> early on, alan can tell you, you don't see clear illnesses among kids very often. you wait a while and the illness declares itself. there is an impulsive sort of fearful, moody -- they are odd kids. you go after these spectrum's. one of the ones they use the first is fearful less. the other one is impulsive less. you don't see depression until teenage years. the impulsive, aggressive, fearful kids. >> nature or nurture? >> 50% is nurtured. environmental effects interact with genetic. it is a combination of the wrong genes at the wrong time at the wrong place. in terms of variants, nature is more important than nurture. >> nurture is more important than nature. environment is more important than jeans but both play a big part. >> they played a part together. the fall in a way we don't understand. >> that is one of the big questions we will have to face overtime. to say that all things are determined by interaction between genes and the environment is true. the question that is important is how does the environment affect gene expression? how does the gene makes you

we know that alan greenspan did it and been bernanke is in there now. but you had a gentleman on last week from a petroleum company who at the end of his time on the show was known to be the president of the texas fed. we do not know who these people are or what their objectives are. they are controlling all we do in this country. they control the money, the businesses. we do not know who runs it. i think that 2 of it is not to dispose of, but to find out what is going on. thank you. guest: i was certainly not suggesting that auditing the fed would break it up or disturb its current structure immediately, but the concern is that given that the gao is under, that congress can request such a review, that could lead to some political interference. that is the concern. on some questions the caller raised, we do know the accounts of the fed. the fed releases a balance sheet statement every thursday afternoon. we all look at it closely. it tells us how much money is in various accounts and what the fed has done with various programs. they have gone to lengths

the other thing we need to pay attention to, this was a key part of one of the other papers by alan garber and david melt r meltzer, what will happen to future dollars that are appropriated? the value of information concept they put forward strikes me as making a lot of sense. you should research dollars for the areas where there's a lot of uncertainty about what will work, what the right thing to do is, and there's a lot of money going into that kind of procedure. it is the combination, the biggest payoff comes from -- we don't have a lot of information about what is working and what is not and we're spending a lot of money on that stuff. beyond that, there are a variety of other priorities settings that need to occur. finally, i want to speak directly to some of the critics of this effort. it strikes me that this is not about getting in the way of you and your doctor. it strikes me that it is not about a government run, dictated on/off switch, but it is about making sure that your doctor and you have as much information as possible on what is likely to work for you. it is not always goin

that is exactly what happened in the 1990's and why we had the economic boom because alan greenspan lower the interest rates. when you artificially contrived to control money it will backfire. the market will correct itself. the main problem is that people do not understand the history. that is my observation of the solution is to go back and look at what abraham lincoln did. i do not like the gold standard, either. but abraham lincoln has the best idea to have a public bank their prints money debt-free. we do not need to issue bonds to private bank and have them give us money. we need to print our own money. guest: there are few. there were taking up. one, the fed is a very difficult institution for people to understand. it was created in 1913. it is a mix of public and private interests. we have the federal reserve board in washington with governors who are appointed by the president and confirmed by the senate. then you have 12 regional federal reserve banks around the country with boards that represent the private sector whose elect their own presidents. the president's then have to b

i'm so pleased that my parents were able to come from new york and my brothers, joey and alan. and i believe that a couple of cousins are here, too. rabbi and alexis brooks. thank you for coming. distinguished members of the committee, thank you for the opportunity to appear before you today. i'm grateful for this chance. i look forward to answering your questions and seeking your support for my nomination. mr. chairman, over the years, i've had a chance to see your commitment to american consumer, your dedication to protecting the safety of our nation's communities. i look forward to working with you on these and other sthiet vooitle issues. senator hutchinson, i have great respect for the leadership you bring to the committee and i look forward to working with you on the vital issues in the communications area. i would like to thank senator schumer for taking the time to introducing me and for his decision 24 years ago to give a young college graduate his first job. thank you for the chance to introduce my family. mr. chairman, it's a tremendous honor to have been nominated b

over the name, the currency literary and the potato peel society which is in epistolary book about alan currency in during world war ii and it's a very delightful book about some women who get together and try to think of ways of sabotaging the germans or on the island, who occupy the island. because it is part of britain and the germans essentially occupied the island. and the third book which really doesn't need me to promote it is unaccustomed earth. and that's the way is into the both, in fact, it represents both the genres that i want to introduce today. one is novels about immigration not. what i find it me -- i find a constantly reaffirming story about people coming to the united states to reinvent themselves and then the other is the great south asian writers and, of course, he represents both of these trends. on immigration i guess i like to start a what burner because it takes place in the 1850's and is about a group of whom mostly americans who were working out issues in the united states trying to settle into the new world, but it all takes place and a few hours in the a

our next call is from alan, joining us from bakersfield, california. good morning. we will go to don. go ahead, don, in lancaster pennsylvania. caller: how are you? host: fine, thank you. good morning. caller: i am not satisfied with my health care at all. like dick durbin said at the meeting with the senate and house, they are owned by the banks. in this case they are owned by the pharma and ama, and the insurers. so we need single-payer. it is simple as that. we ought to join the rest of the civilized world, and what the last fellow said about we have the best health care system in the world, it is just fox news propaganda, republican propaganda. it is not even close to accurate. "the wall street journal," with their talking about sending people to the united states for procedures, well, those people are covered. you know, when we go somewhere else, it is all out of pocket host: let me be clear, it was an editorial by david gratzer. he pointed out that in the united kingdom where socialized medicine with established after world war twii, patients are allowed to ch

.: you get both alan dunn who has taken over for rick kranitz, he comes out, matt wieters already headed out to the mound. the one thing about most of the battery-mates that you will see, wieters has caught most of these guys in the minor leagues. but where you come to a different level, they both have to learn this level. >> rob: but the thing i've said about wieters and any young catcher, including our own, you have to learn the opposition. you've got one of the toughest divisions, the american league east. every team is full of bombers and just fantastic hitters. that's one of the toughest jobs for a catcher. learns the ins and outs of the opponents and how they hit. he's got to learn the opposition. >> bob: two on, one out. hernandez singled up the middle first time and was caught stealing. the measurement on the home run, 442 feet. >> rob: that's a bit low. >> jim p.: did it hit the warehouse? >> bob: i think it bounced, then hit it. >> jim p.: my first home run was off the top of dead center about 445 in chicago. and on the line. and it was, i mean it was impressive. you're ever go

. >> alan greenspan argued that the means justify the end and the idea was to get the fiscal budget accord which was very involved with, and then with the clinton administration, convincing and talking with them about fiscal discipline and having them embrace a version that worked better until we have surpluses. i think it is interesting to finally see ben bernanke finally talking about fiscal discipline, which seems appropriate within the context of what we are talking about. i watched the testimony in congress, and he said it was not a fiscal stimulus and the great depression was the problem. he said it was not big enough. the fed supported, as you noted, the fiscal stimulus, along with monetary stimulus in the beginning of the crisis, but is now calling on congress to think longer-term. thhow much more does it put the fed in a position to be more outspoken in perhaps the economic functions of washington at this stage of the game when you are the ones who have to deal with picking up pieces at the other end? >> the part of that that is central to the federal reserve is to understand the

even alan greenspan pointed out that he made a mistake. he thought the banks were sufficiently responsible that they would have enough self interest that they would not engage in successive risk taking. but look at the banks. it's happened over and over again. we had the s & l bailouts and mexican bailouts in east asia, latin america. each of these bailouts had nothing to do with the governments encouraging this kind of lending. there's just a long, long hirst of banks not doing what they are supposed to do, which is assess credit worthyness. >> host: there's an article in the financial times with the headline "growing risk, appetite hits the dollar" by peter garn you mean who is quoting halpenny from the bank of tokyo mitsubishi and mr. hall benny says monetary policy will not undergo any changes anytime soon will encourage participants to use the dollar as a funding currency as the risk appetite trades persist in the line with the steady release of improving economic data. what's your response to that? >> well, i just got -- participated

there was an hbo movie years ago that they did the whole thing of when the young guy worked for cdc, alan aleda plays in it. but going on to other things. everybody's talking about obama doing this and doing that but we're rushing into everything. and they want the government to pay for everything. and nobody seems to realize that the government is your money. you know. you're going to pay for it eventually. and i jist don't understand why the american public doesn't understand that government is spending your money. host: more about the story of the supreme court nominee quiting an all-women's club. says the club bills itself as a women's answer to the 130-year-old all male bo heemion club in california to which chief justice earl warren belong ds before he joined the court and long before the federal judiciary adopted a code of conduct. president obama made reference to supreme court nominee sonya sode mire last night at the radio and television correspondents dinner here in washington, d.c. he threw out a few jokes. one of them was at the expense of his supreme court nominee. this is w

rick kranitz and alan dunn a- couple of influential people. i guess that had an impact with rich hill coming to the orioles with both those coaches in place. >> well, quite, quite truly they are his professional foundation. when rich was in double-a and triple-a, they entrusted him with his mechanics. they trusted him to be able to execute as you can see some of his mechanics are a little bit different from traditional mechanics. they trusted him to be able to execute against that. so, coach kranitz and coach dunn have dawn tremendous job with him and it's a great reunion for rich. >> jim: lloyd, final question. what is it like to have someone from your family be able to not only excel at a sport but make it as a professional and get to the major leagues? what is it like being a sibling and it's your younger brother, your kid brother literally 19 years younger in the big leagues. >> that is really hard to put into years, but the journey rich has taken us on has just been truly, truly remarkable for every family member from my own kids going do

alan also like to recognize the members of our centennial society, several dedicated club members sparked the formation of the society in order to ensure the ongoing financial viability of the organization, the 110 members of the society are also listed in your program. we are, of course, honored as a club today to hear from robert mueller, the director of the fbi. he is the sixth director of the agency and nominated by president george w. bush, he was sworn in as director on september 4th, 2001. just a week before 9/11. after receiving his undergraduate degree at princeton university and his master's degree in international relations from the york university, the director joined the marine corps, he served as a marine officer for three years and led a rifle platoon of a third of marine division in vietnam for one year. for his service you received the bronze star, two navy commendation medals, the purple heart, and of the vietnamese cross of gallantry. following his career in the marines, the director went on to earn his law degree from the university of virginia law school, he served as

policy priorities, a number of analysts in the private sector, like henry aaron and bill gale and alan auerbach did similar calculations and came up with similar conclusions. when i played around with these projections, back in 2007, i concluded as others had, that if through some miracle we could hold down federal health care spending growth, to half a percentage point faster than gdp, we could extend all of the tax cuts that were enacted since 2000, index the alternative minimum tax, and allow discretionary spending to grow along with both inflation and -- and population, and have a balanced budget for at least the next 40 years. so, this gives you an indication of what role rapid health care spending plays in the projected unsustainability of our fiscal situation. without some restraint on health care spending, the choices that faced us were quite unpleasa. sharp lie higher taxes and deep cuts in programs and budget deficits that would begin to balloon and at some point explode and no one paid much attention to these dire warnings, is not surprising. we have a president who had no r

and i know we have congressman alan are also who can tell you, that when you first get there one of the most surprising things about being a member of congress is that the only thing that's missing in the aisle that separates republicans and democrats is a checkpoint charlie. a lot of republicans just never ever go over to the other side and talk to democrats, and democrats don't go over and talk to republicans. and you ask why and they just say because and use a fine. but it was fascinating. i was a bit liberated when i got up to washington since my political party, the republican party tried to kill me lyrically throughout the first campaign. i was able to do whatever i wanted. there were several times that newt gingrich started to threaten me and say get in line or else. i said or else what? are you going to campaign against me? i got 62%. please, come to my district and campaign against me. so again the opportunity to team up with democrats when i wanted, go after democrats when i wanted. and what i found was that that sort of independence, listen, i'm a very, very conservative guy

the pitching coach's father-in- law passed away so he will not be back until monday, and alan works with him because he's the bullpen coach. the roving catching instructor is i think out in the bullpen. hey, wait a minute, remember when we started staying closed. otherwise everything gets side to side, the ball stays on the same plane, it doesn't sink, you can't throw strikes. >> rob: he's probably saying also, you shouldn't start nibbling in an 0-0 count. try to get the first pitch over for a strike, then maybe go to the nibbling. but right now he's trying to hit the corners with the first and second pitch and he's behind 2-0. >> bob: good point. adam dunn, willingham doesn't hit the ball the other way very much, so them holding the runner, the orioles, doesn't make much of a difference in this situation. he pull that is one down the line. fair ball into the corner, hitting near the 333 mark. dunn to third, willingham to second. and the nationals have the tying run at third base immediately here in the sixth. >> jim p.: lead-off walk, then the 2-0 count to a guy that can pulverize the f

the founder of kroll inc., and alan murray, the assistant managing editor of "the wall street journal." jewels, the first question for the director comes from you. >> thank you mr. director. and thank you for the work that you perform for our country. that's the easy part. >> i thought so. >> i want to focus on two areas. number one, the focus on financial fraud, and raise some questions having to do with the fbi as a preventable organization or the fbi as a crime-fighting organization. my second question will deal with the whole counterterrorism issue and the role the fbi should most effectively play, the crime-fighting piece versus the intelligence piece, an issue that i know you are very comely with and have been very involved in examining and considering. so to the first question, for my own experience, which is of course in the corporate sector. i find that there is certain organizations i culture, by orientation and by training are better at prevention and detection. i would say that's true of the auditing profession, in my view. the fbi has a great and well-earned reputation as

applause] thank you very much, director mueller, for sharing your thoughts and thanks to jules and alanfor the great questions, lunch will be served. thank you. [inaudible conversations] [inaudible conversations] however, c-span funded? and. >> private donations. >> public television. >> donations him and i don't know where the money comes from a. >> federal. >> contributions from donors can balckout a c-span funded? 30 years ago america's cable companies greeted c-span as a public service, a private business initiative with no government mandate and no government money. >> political activists from across the nation gathered at washington for the annual conference hosted by the group campaign for america's future, on the economic challenges that lie ahead in advancing the so-called progressive movement in a obama administration. this lasts about an hour. [inaudible conversations] >> please take your seats, we are going to get this session started because we don't want to waste time. good morning. try that again, good morning. >> good morning. >> my name is roger, on the other co-directo

event of the day features author johan van overtveldt and his new book bernanke's test: ben bernanke, alan greenspan, and the drama of the central banker. >> bosin and in the end class l. class . .

he discussed how former federal reserve chair alan greenspan opposed regulating these instruments because they were agreements between sophisticated parties and need not be regulated. seidman strongly disagreed stating he felt that the credit default swaps market was a dismons one -- dishonest one. his words were prophetic. he also felt securitization lay at the heart of the housing crisis because of the way the practice is carried out. he said they take a bunch of mortgage, bundle them up and then sell them off without any connection to the value of what they are selling. he said, and i quote, if you can make money off garbage, go ahead and sell garbage, as long as you don't have to deal with it later, unquote. both bill seidman and bill isaac really advised america that we needed to fix securitization, including making sure that bankers have real skin in the game. that is, hold on to some of the risk rather than passing it all forward. i couldn't agree more strongly. it's time for a transformation in these instruments and the overall financial system. our members were honored to be disc

he will constantly be surprised especially in eradication and alan guess as we go for universal coverage of anything as you get out to the periphery geographically and culturally epidemiological a, the disease will surprise you, and you need a research program that can adapt to that. a couple of examples within the program 20 years after the initiative was launched weaver introducing important new tools and vaccines for introduced in 2005 after six months development process things to our friends who took it on with 50 million disorder, probably smallest ever and decided to help us do this and then similarly lab procedures were implemented in 2006 that a cut in half the time needed to eradicate polio. a feeling that the application of these tools on the left-hand side we see the maps in indiana -- india -- to the one area of india that have never stopped polio. this area -- over here is in the area of the country which every other virus that we found sins of the year 2000 is genetically linked said that has been a key reservoir three never stopped polio. we developed the vaccines and put

that emphasizes that where private health-insurance companies dominate our health care coverage and alan argue that there are many hundreds of billions being wasted in administrative cost and profit sharing high ceo compensation is cetera and we will discuss that later but i wanted to make a point in relevance to the issue of prevention what we don't talk about often enough is that our life expectancy and significantly lower than many other countries. and when you look at life expectancy and from an economic class perspective which you find it if you are pour that is a life sentence. that is a death sentence in america because poor people and working people live significantly lower life expectancy is an upper-middle-class there and that's a fact and that has spread among expectancy between the wealthy and working people growing wider. there was a study that came out and i'm not mistaken and to mention kentucky where there are a number of counties in america where you may have seen the study or women have seen what a decline in the life expectancy. hysterically life expectancy all over th

regulation like some folks with that label would assume, but he is a real fan of ben bernanke and not of alan greenspan is also been explain when he doesn't like about greenspan end what he does like about bernanke. >> what i like about bernanke it is the man has been a very courageous i think, he has been doing things that would have been unimaginable a few years ago but given the fact as an academic his main focus was the great depression and he knew that he couldn't wait too long to do some pretty drastic things given what we saw in the financial and the banking sector. he said the -- he studied bearcat carefully what happened in the 30's and you can say that the great depression became her the great depression because the monetary authority is, the federal reserve didn't do anything or at least certainly not enough to stop at the banking crisis did firmly degenerating and i think the big thing he did and who was probably one of the first world wide realizations that he had to step in and do whatever was necessary to stop a banking crisis. personal he used interest a policy to do this and

been watching johan van overtveldt, author of a "bernanke's test", "bernanke's test: bene bernanke, alan greenspan, and the drama of the central banker". booktv live coverage from the 2009 chicago tribune printers row lit fest will continue after a short break. coming up next, authors kim bobo and jon jeter talk about workers and the economy. >> we are heading over right now to the in iran institute which is always set up here and for some reason we're going to find out why and talk with jeff of here. what is your name and position. >> i'm archivist at the ayn rand institute. >> why is it that ayn rand always seems to bump up in sales when there's a lack of a crisis of blacks. >> the sales of "atlas shrugged", up and that is directly result of the story and the ideas in the book. this is a book about the not too distant future when of the creative people of all stripes come all talents and all liability is the side to go on strike against a world that does not appreciate their value in their contributions and a world very much like the one we are currently facing economically. >> what do

alan like to address several things but i like to touch on what the lady just now said. and happens to be an educator and one of the things that bothers me about my own colleagues is that we keep hollering we need a raise, we need a raise. i keep trying to tell them and explain to them that we do not need a raise. what we need is more educators to wear when we have a classroom, i teach fourth grade an homage to a class, and at one time i had 26 kids in my classroom, that makes it very difficult because to get anything accomplished. now, the reason that i wanted to call-in talk to you about was that right now we are facing a huge problem with north korea. north korea and then nuclear proliferation him on the question that i have is what do you think their main intent with this is? and i feel personally that china is acting with north korea, so is russia, and i just feel in my heart of hearts that they are on their way to once a day -- we have already reached hawaii and alaska, once they can get a missile that will reach the west coast there are going to bomb and there are

a significant piece of what the financial burdens of like that have influence on decisions he met alan brinkley said, i think it is a very good thing that we all seem to be on the same page. nco lot of disagreement in understanding there is a crisis and we have to move toward in a number of the runways. i mentioned for the record the best of my understanding in terms of debt forgiveness for example of for every four applicants for a national health service program and that is a federal program that reduce debt fort those that go into primary care, only one is accepted in. so i think we are in agreement that we have to approach this problem in a number of different ways and i hope we all agree we are not one to solve the crisis until we address primary health care. it is a huge issue. >> mr. chairman, i agree that the burkowski of and it takes care of of 5% fixed rate and i said that at the outset that numbers one and four have been taking care of it. my amendment does not change how they have been taken care of, is still goes back to where they were, but i am really concentrating on th

alan like to know from my colleagues and i have worked closely with kenneth feinberg and during the recovery for 9/11 for new york city. he took on an incredibly difficult task determining what the compensation would be for a families that have lost their loved ones. it was a very difficult task and he won applause from everyone. he did a magnificent job with a very difficult markey confusing problem so i compliment the treasury department on your selection and i wish i am the great success and that he will be as successful as he was with the 9/11 compensation fund. my question really to treasury is, how did you determine the seven companies that are going to have their compensation determined or guideline by mr. feinberg? some people have said if there was 40% ownership by the taxpayer was that the standard -- what was the standard that determine who the seven companies were? >> in the regulation itself actually mentions the specific names of the programs that they're under, but i think your question marcos to what's the logic and rationale and i think our feeling is the sum of the things w

. >> jim: i was doing a game in detroit with brooks and alan trammell caught a ball and brooks was doing color and i was doing play-by-play, and he said the best fielding mechanics that i have seen the a long time. i said maybe we'll come back on the slow mo and now x-mo and you'll show us. and this is a guy with 16 gold gloves, brooks robinson. i used to have trouble keeping my glove down and they told me to lay it on the ground. you can always come up. you can't go down. >> bob: exactly. >> jim: to hear brooks talk about that. this is a guy that would go on to be the human vacuum cleaner and the mvp of the world series in 1970. >> bob: if it wasn't for the throws, ryan zimmerman might have already clinched the gold glove this year. david wright is the incumbent now and they're about even in the number of errors. >> jim: wright is having throwing problems, too. >> bob: but i don't think anyone who has watched the two of them would tell you that david wright is a better third baseman. >> jim: but he does play in new york. >> bob: he does. >> jim: and he hits and that sometimes leads to g

action and was criticized for it, but stuck with it and passed a better situation with his successor, alan greenspan, who did a very good job. host: but some point to his policies as one of the reasons we are facing this situation today. guest: i am one of those critics come out because towards the end of his very effective term, the fed get too easy. -- i am one of those critics, because towards the end of his affective term of the fed got too easy. we can look back at that and learn lessons. the most important lesson is don't do that again. i call it get back on track. get on what was working in much of the 1980's. that will be a much better economy. i don't think we will have this kind of serious crisis if the fed had been kept on track earlier. the importance for chairman bernanke is to get back on track. host: i realize this is a simple question with a complicated answer, but how do you get to the goldilocks economy? guest: the fed is

my judgment, essentially became a spectator for a long, long period of time under then fed chairman alan greenspan who believed that self-regulation was by far the best. let everybody do what they will and they will do in their self-interest what they believe is right and self-regulation will be just fine. it turns out it was an unbelievably bad decision. but the problem is to set up the federal reserve board as the systematic risk regulator is to set up a systematic risk regulator that is unaccountable. the federal reserve board is unaccountable, not accountable to the congress, not accountable to the president. so in addition to establishing an unaccountable entity, it is also an entity that operates in great secrecy. i give the president great marks here for suggesting we have to have more effective regulatory capability. good morning sure we'll have discussions about exactly where should that regulation exist. who should be responsible, how do you get it right. but i do hope we can have a discussion about whether the systemic risk regulator should or could be an entity that is really

alan has been a longtime colleague, his fingerprints was all over it. and it was a very strong orientation towards research. point sanjay gupta. >> thank you all for come in. [applause] >> i am delighted to be here. if you rick watch cnn, you see reflected on when we approach these stories. if you look up the advancement, the understanding and treatment, mental illness overall, there's a lot to talk about, this panel could go on to some time, it has been some time coming, not only to look at where we have been but