they have been calling him p papa ameritus. he will be referred to as the holiness, benedict xvi. after the election of a new pope two men will have the title "holiness" at the same time. another day closer and deeper in debt. sequester. the efforts to stop it. the fox all-stars are next with the policy and the politics. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.

the chair now recognizes the chairman ameritus, the gentleman from alabama for five minutes. thank>> thank you. ben bernanke, i ask you to consider rule 55 as it relates to foreign banks organizations who don't have a u.s. bank, but only have a u.s. only operate a broker dealer. let me give you four reasons. i don't want to engage you in a debate at this time, but number one, to have that approach is different from any other regulatory -- regulatory regime that would apply to u.s. broker dealers of our american companies so you're using a different approach. they don't have to, you know,

in just an hour he will become pope ameritus. greeting the faithful from that balcony of his new home, the temporary home pope benedict said thank you to the thousands who had turned out to say good-bye. in the final hours of his papacy, the pope met with the cardinals who will be choosing his successor, noting that the next pope is among them. new york cardinal timothy dolan is rumored to be a contender, but in an interview with savannah guthrie today he laughed off the very idea of it. >> i would be remiss if i didn't ask you what you think the chances are that you walk into this sistine chapel behind us as cardinal and come out the next pope. >> about the same as me take a-rod's place for the yankees. >> there's a new york analogy for you. ann thompson live from the vatican, and joins me now. ann, what an extraordinary day. i can't even imagine being in your shoes, and they're not red pradas, i assume. >> no. >> seeing all this take place. what is the emotional part of this, and also that very interesting message that he pledg

they have been calling him p papa ameritus. he will be referred to as the holiness, benedict xvi. election of a new pope two men will have the title "holiness" at the same time. another day closer and deeper in debt. sequester. the efforts to stop it. the fox all-stars are next with the policy and the politics. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. they're coming. yeah. british. later. sorry. ok...four words...black monkey? a baboon? hot stew saturday!? ronny: hey jimmy, how happy are folks who save hundreds of dollars switching to geico? jimmy: happier than paul revere with a cell phone. ronny: why not? anncr: get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> across the country it will force prosecutors to close cases and let criminals go. air traffic controllers and airport security will see cutbacks and that could cause delays at airports across the country. >> now the president says we can't have any progress on this sequester unless we get second tax hike in eig

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we've just learned the pope will be called pope ameritus.sing him, he would call him, his holiness, he will wear the white cape but not the one he wore as pope. they will be replaced with brown shoes. i'm joined by a father of the diocese. thank you for joining us. >> thank you, chris. >> there were allegations by priests and former priests. church scholars say there has not been this much drama surrounding a conclave since 1800s. another father says it looks like amateur hour s is it in. >> there hasn't been this much controversy but it makes for interesting conversation can, doesn't it it? >> it makes interesting conversation but how might they impact the reduction in the past? >> the number of cardinals who can vote, and so now the controversy swirling around cardinal mahony. will he stay or will he go or recuse himself? >> he got support from a few people that have suggested that this can be separate. in fact, it was cardinal o'brien, one of the people suggested if you make one decision with one thing, doesn't mean you can't make a good

benedict announced his title will be pope ameritus and said he will not return to private life. last pope to abdicate, 719 years ago, had a much rockier departure. he was imprisoned until his death and is thought to be depicted in daunty's inferno as a cowardly shadow in hell. >> preparations are completed at an 8,000 square foot monastery near st. peters. for the catholic church and the within in seven people worldwide who are members of it, the attention now turns to their next leader, namely who will he be and perhaps of equal importance, where will he come from? the past century has shown dramatic changes in the worldwide catholic population. while 65% of the catholic population lived in europe in 1910, that figure has now dropped to 24%, and as the number of catholics actually sh links in europe each year, it is growing rapidly in other parts of the world. the largest share of catholics, 39%, now live in latin america, and in the last century catholic simple in africa has grown dramatically. less than 1% of the church's worldwide membership to 16% in the past eight years al

the chair now recognizes the chairman ameritus, the gentleman from alabama for five minutes. thank>> thank you. ben bernanke, i ask you to consider rule 55 as it relates to foreign banks organizations who don't have a u.s. bank, but only have a u.s. only operate a broker dealer. let me give you four reasons. i don't want to engage you in a debate at this time, but number one, to have that approach is different from any other regulatory -- regulatory regime that would apply to u.s. broker dealers of our american companies so you're using a different approach. they don't have to, you know, their broker dealer doesn't have to be placed in that. second, it's discriminatory, in my mind, because the securities broker dealer of the foreign banking organization could have a higher capital standard because of the standard imposed on the intermediate bank holding company. we also have the long standing principle of, i guess, national treatment where you don't have desperate treatment, and i think this -- there's a capital requirements of the functionally regulated subsidiary of a bank