this was his comment it was on film it showed in argentina and throughout the world and was broadcast in argentina and the next day i had a letter in to the argentinian ambassador and their croatian ambassador calling for croatia to extradite. this is a very, very serious gamble because at the time croatia was led by a man who even though he personally fought against them in world war ii, when he became a politician in a late 80's and sought the presidency of croatia he became the ultranationalist to the extent he made a famous comment thinking got his wife was neither a serb nor aid to. he was also the one who wrote in his book fact the jews inflated the number of victims which is really a million and holocaust denial. which is ridiculous. this is a tremendous gamble on our part and the serbs are happy to seek his extradition he was put on trial in belgrade and 99% sure he would have been hong but i firmly believe it was much more important that he was plucked on trial in croatia and it serves as a history lesson for the population and ultimately that gamble paid off even though i ha

take the first seven or eight years of convertibility in argentina.when the credit environment becomes tough and unemployment rates go up in different between region within the monetary zone, that's when your rough right comes. that's very much the challenge that europe faces, not just for the next few courses or the next couple of years, but i think for the next four or five years. and then the final issue which you might expect me to rise given that i'm working for an organization sponsored by the banks, issue is the issue of the banking sector. desmond raised that point earlier in the context of the damage done to the banks. but the thing that worries me more actually is that the fix is being proposed to kind of stop another crisis. well, while in many ways legitimate, if they are imposed too early, and that's quite plausible, given the political imperative to do something. if they are imposed too early, it would act as severe constrain on the ability of the system to finance recovery. if we get aggressive actions taken to curtail bank activity, th

and lived in argentina and also lived in basel. >> you're involved with venezuela? yes, to some extent. >> i didn't know that to cover all of south america. >> i was a regional analyst. let me say a few words about hugo taught us and what i am going to say may sound a little radical what most people think of the cia analysts, a few years ago i read a book by a diplomatic historian about latin america, it fellow man named mark, he made an assertion that i actually agree with and he said that ever since the end of the 19th century it up to the present when the united states wanted something from latin america and it didn't get it by asking for it nicely tended to get nasty. i can think of a lot of cases in which that happen and and so the appearance from time to time upon the scene of people like hugo chavez or want corona or certain times other latin american and populists leaders, i think is the payback that we have gotten for having a big stick policy towards this region. i'm not exactly sure how quickly and why we developed this hegemonic approach or attitude and

that is basically what occurred in argentina. >> maybe we should schedule a seminar like this on the future of europe. you can invite desmond again. the next question from the audience. >> very would, rghg in hong kong. i would add -- i would like to ask for a look about the power shifting to the emerging markets. why do you really think that is happening? it is not just that in the united states, is it? -- the debt in the united states, is it? i am not persuaded that the domestic demand is going to rise in china and brazil and, thus, sustain this. if the u.s. is going to grow at a new level, aren't we going to see commodity prices declined? -- commodity prices decline from these current levels? >> do you want to go first, hans? >> why is it happening? let me first say why it is not happening. many people think that this was happening because of export growth, because of peter manipulation of currencies or through other -- because of peter manipulation of currencies or to other factors, such as stimulation in china, for example, these economies were igrowing by exporting. that is a m

turkey in 1970 and 80s was a bankrupt economy much like brazil and argentina and mexico and did exactly what they did. they asked for help. they said the same thing to turkey as other countries which was to change the economy. you cannot protect these large industries with paris and poor money into them. you have to let them die and put into what the rest of the world was willing to buy. the secular elite businessman, they were dependent on government handouts and government support. the ones who were going to take up this mandate were those not protected by the government which was small-town business. you can go to turkey in the middle of turkey, a city -- a tourist visit in turkey which is not too far -- in the middle of nowhere. and the case study in american terms is something like louisiana. the middle of the country, is not associated with a big metropolis or the cultural hub. it is fiercely conservative, small-town values but also very capitalist. today when you go there, it is one of the major industrial centers in turkey. six or 7% of all adenosine is sold around world are man

explanation for the disappearance of south carolina governor mark sanford who was actually off to argentinahis mistress. >> married men can go missing for about eight minutes before they need a very, very good excuse, i.e., coming home. once you pass the four-hour mark you are very, very missing as a husband. >> you can imagine that call. his staff, you know, how was the hike? oh, it was so good. oh, i hiked twice. i haven't hiked twice since college. amazing. >> so were his repeated attempts to explain himself. >> each time he opened his mouth it just made it worse. he made his wife even madder. >> but absolutely the worst drive into the rough, tiger woods. his late-night car crash was just the beginning of a hard road of revelations. best crime news, the surprising rescue of jaycee dugard 18 years after she was kidnapped. worst? there are too many to choose from. shootings, robberies, fires

debe el gobierno enfrentarse en gobiernos como el de venezuela, bolivia, argentina?ecuador, nicaragua no son positivas. no le sirven a amÉrica latina el problema es que los estados unidos esto no lo puede hacer sÓlo si lo empieza a ser sólo va a resultar nuevamente un ejemplo de imposiciÓn norteamericana, de unilaterales o norteamericano lo que tenÍa que hacer obama es convencer a sus aliados naturales en amÉrica latina como mÉxico, colombia, chile ahora con un nuevo presidente. perÚ, quizÁs el caso de brasil un poco mÁs adelante tal vez cambiarÁ de presidente brasil a fin de aÑo, actuar con sus aliados, insisto no por la vÍa militar. por la vÍa de el debate, la confrontaciÓn ideológica para mostrar los avances de amÉrica latina en estos aÑos jorge. las economÍas que carecen, la democracia representativa, el respeto los derechos humanos. todo eso estÁ en peligro por la actitud de el gobierno como el de chÁvez, como el de cuba. y hay que enfrentar los pero por la vÍa del debate.ion >> quisiera terminar con el tema de mÉxico. seÑor castaÑeda usted publicÓ un libro que

so we're shooting in argentina. i don't hate this. you good? hey, i'm the producer.t happen. and did i mention it's a film about... parisian squirrels that ride bikes? scooter. who ride scooters? i like what you're doing very much. my director... he can be a bit... i want to go back to china. much. but on tonight's flight... i can just sleep. [ announcer ] the new international business class. only on american. we know why you fly. why squirrel hate me? >> ron: moments ago they had a video board tribute for the late skip prosser and it was an emotional one. his family was on hand. the staffs of the respective teams also on the floor, and they had a chance to look up, the mother and the wife and the rest of the team, members of his family as this tribute was being played and i think, to say the least, it was touching to everybody that's here at joel coliseum. let's take a look at tonight's starting lineups. let's look at xavier. they had wins over cincinnati and lsu already today. head coach in his first year is chris mack. he will start love, frease, lyons, holloway

host host: what is going on in argentina?: nothing ever goes well in argentina, unfortunately. it is a very rich country that has been very badly governed for many decades. and you have a very populist president, a woman who succeeded her husband as president. the two of them a sort of run argentine as though it were their form or their ranch. nothing is very clear in terms of policy. the central bank has been basically emasculated. the president of the bank is a very fine painter, but he's had no independence since she has come into power. people are beginning to blame the central bank, which is not true, for the mistakes of their administration. what we need in latin america are strong central banks, like chile and brazil. in the banks that understand how to keep the inflation low and the money situation bonds and that is not happening in argentina. host: north carolina, go ahead. caller: i think this has been very unfair from the beginning. i mean, back to the clinton administration. they were sending those people back to

we are working with many organizations, friends from argentina and france, minikin republic and brazil. secretary hillary clinton -- dominican republic and brazil. secretary hillary clinton will be in coordination with this government. we know that our longer-term effort will not be measured in days and weeks, it will be measured and months and years. that is why it is important to enlist and sustain the support of the american people. that is why it is important to have a point of coordination for all the support that extends beyond our government. here at home president bush and clinton will help the american people do their part, because responding to a disaster must be the work of all of us. those scenes of devastation might as not only of our humanity, but our common responsibilities. this suffering can and must be a time of compassion. as the scope of the destruction became apparent, i spoke to each of these gentlemen and last ast the same simple question, how can i help? -- they asked the same question. they will be asking everyone what they can do, individuals, corporations and

host host: what is going on in argentina?guest: nothing ever goes well in argentina, unfortunately. it is a very rich country that has been very badly governed for many decades. and you have a very populist president, a woman who succeeded her husband as president. the two of them a sort of run argentine as though it were their form or their ranch. nothing is very clear in terms of policy. the central bank has been basically emasculated. the president of the bank is a very fine painter, but he's had no independence since she has come into power. people are beginning to blame the central bank, which is not true, for the mistakes of their administration. what we need in latin america are strong central banks, like chile and brazil. in the banks that understand how to keep the inflation low and the money situation bonds and that is not happening in argentina. host: north carolina, go ahead. caller: i think this has been caller: i think this has been very unfair if anyone tried to come here, they are going to get sent to guantana

that is basically what occurred in argentina. >> maybe we should schedule a seminar like this on the future of europe. you can invite desmond again. the next question from the audience. >> very would, rghg in hong kong. i would add -- i would like to ask for a look about the power shifting to the emerging markets. why do you really think that is happening? it is not just that in the united states, is it? -- the debt in the united states, is it? i am not persuaded that the domestic demand is going to rise in china and brazil and, thus, sustain this. if the u.s. is going to grow at a new level, aren't we going to see commodity prices declined? -- commodity prices decline from these current levels? >> do you want to go first, hans? >> why is it happening? let me first say why it is not happening. many people think that this was happening because of export growth, because of peter manipulation of currencies or through other -- because of peter manipulation of currencies or to other factors, such as stimulation in china, for example, these economies were igrowing by exporting. that is a m

one of your favorites is always argentina. why does it top your list?e argentinean pay so he is 3.8 to the u.s. dollar. that is such a bargain. i took six people out to dinner at the best restaurant in bear knows air reese. what do you think the tab was with everything? >> 100 bucks. >> 109. not bad. but you go to the neighborhoods, great food, sgrat experience. and great antique shopping. this is the time to go this year, do your christmas shopping for next year. >> another one on the list, we have a lot of friends who go there and just rave about it, turkey. >> turkey for me is greeks without the attitude. it's less expensive, you have great experience, great history, great ruins. we found hotels that average about $140 a night for really great hotels in istanbul, which you can charter boats and see the entire turkish coast. it's really quite amazing. >> all right. romania. everything on the list, that's the one that surprises me. >> that's the sleeper destination if you like ski. go where the europeans know where the cool spots are. you can get rooms

the two institutions focus on external debt, so a few were argentina and you had external debt to investors in new york or in europe or in japan, that was documented. but if you own debt to your own people, it was not. so, one of the missing links, and this is, we are economists said you have to allow for the fact we get excited over things like this domestic debt, data, so you have to lower the threshold for one classifies as exciting. the other exciting component for this was that the historians had done an excellent job in pinpointing the dates of default work restructuring some of the external debt because these were the debts of the powerful bankers or investors of london and new york. but if you took the pension plans of people and be faulted on them, which many countries have done, that stuff doesn't get record. so, one of the things we set out to do, our work in this book can be more described as archaeological the and economics and many important dimensions. it really was -- we have colonial records. we have a wonderful source. my husband being the romantic that he is for valentine

and we don't think in the muslim world, you're not going to get them to where brazil, argentina, taiwan the same class that got those countries to where they are also become empowered in the muslim world. so we are looking for a solution in the muslim world without looking at what is the force that's supposed to produce the solution. i think the change agent!"w ine muslim world ultimately will have to come from the middle-class and from the capitalist business sector associate with the. >> vali nasr, author of "forces of fortune." thank you so much. >> thank you. >> in his book, "obamanomics," timothy carney says that president obama presents himself as a chicken of the average american. but is more on the site of big corporations and wall street. it's about an hour. >> the book, "obamanomics," the thesis is different every time government gets bigger, somebody is getting rich. and the main idea that i'm going up against is what i call the big myth, the notion that what big business wants is simply to be left alone. big business wants the regulation and taxes and regulation are the sco

question, what is your -- should prevent us to believe greece is drifting away argentina style and what are risks of spreading out to portugal and spain, it's. >> the situation of greece is totally different from the argentinian example, for instance, it is for difficult and on the other hand, safer. it is more difficult, because greece is facing a huge deficit. accumulation of deficits, a huge debt. and is more deficit than many other countries because they don't have control of e the one valuable, which is exporting and to deal with the problem without having a possibility to move... makes it more difficult on the fiscal side and the adjustment needed in greece, is bigger than with the same data would be needed from another country where part of the job could be done by adjusting that and it is more difficult and another point of view it is easier because it is a member of the eurozone and so, the constraints on greece are constraints on the markets, and facing the deficit but don't have a constraint of current accounts and are not likely to just collapse overnight because they won't

even compared to say argentina going off convertibility or britain going off gold.is is a tougher nut to crack in that sense if you believe the currency flexibility was the way to go. actually, reversing what was done with the introduction to the euros was tough. i think what it leads one to is the conclusion that you sort of -- i won't use the acronym. but those countries that you mention, they have to tough it out. you are looking at multiyear austerity. you can say we have in key parts of europe before. and it turned out to be not too bad. there are countries, island being an example itself that achieved a massive reduction in that budget deficit in the 1980s over a number of years. somehow the country survived and actually flourishes out of it. but then you had the converge interest rates. they started off high and converged. you also had opening up of the economy to massive flows of fdi. neither of those two offsetting financial support seem to be there. to it looks to me like this group of countries is in for austerity on the fiscal side. not just for a year o

when i restored president aristide 15 years ago in 1995, argentina was about the only neighbor that reallyared at the time. now when we had an investment conference there, there were more people there from latin america and the caribbean and from the u.s., canada, france, all of europe and all of asia combined. they care. and finally, we have the inter-american development bank, the world bank, and the whole u.n. system totally committed to this and, again, i can't say enough for the commitment that president obama has made. and, you know, hillary canceled her trip to asia to come back and work on this. we've loved haiti for 35 years now. she's... she's distraught about it, but committed and on the job, staying there all weekend to work. the a.i.d. director, mr. shaw, is doing a good job e. we're going to get through this and i think there will be even more determination to honor the plan they have... it's not my economic plan, it's theirs. their government has embraced it. but we've got to help them with the living and the dead right now. and if we do this right and they feel the support

we are working with many organizations, friends from argentina and france, minikin republic and brazil. secretary hillary clinton -- dominican republic and brazil. secretary hillary clinton will be in coordination with this government. we know that our longer-term effort will not be measured in days and weeks, it will be measured and months and years. that is why it is important to enlist and sustain the support of the american people. that is why it is important to have a point of coordination for all the support that extends beyond our government. here at home president bush and clinton will help the american people do their part, because responding to a disaster must be the work of all of us. those scenes of devastation might as not only of our humanity, but our common responsibilities. this suffering can and must be a time of compassion. as the scope of the destruction became apparent, i spoke to each of these gentlemen and last ast the same simple question, how can i help? -- they asked the same question. they will be asking everyone what they can do, individuals, corporations and

it is the country of argentina, president of big media companies with the criticism that she wants to force more diversity of media ownership and that is exactly what our government is trying to do. >> host: and that you write about this in the book "censorship" and talk about these international examples of what is happening here in america. you to write about canada and you say what candidate is doing is leading the left in this country in their movement against free speech. >> guest: my word, the canadian situation scares me to death. the canadian human rights tribunals, they even call them that, very powerful. our friend mark stein in his book america alone when he wrote to maclean's magazine in the canadian islamic council protested and went to petition it to the human rights tribunals. costing him hundreds of thousands of dollars in court and legal fees. i am not sure how much it cost him but it certainly did cost. it was an absolute affront to free speech in candidate. it took months to clear that up and it wasn't just one human rights tribunal. it was british columbia. it was

and we don't think that in the muslim world you're not going to get them to where brazil, argentina, taiwan, or could we are unless the same classic got them to where they are also becomes empowered in the muslim world. so we look inward for a solution in the muslim world, without looking at what is the force that supposed to produce blue shin. i think the change agent and the muslim world ultimately will have to come from the middle-class and from the capitalist business sector associated with it. >> author of forces of fortune. thank you. >> thank you. [applause] >> thank you very much. it is a pleasure to evacuate his magnificent building, this 18th century library, which i think it's one of the architectural models of the united states and everybody should come here to see it. and i'm delighted to be back here again. now this book, which is a big fat book can be used as a doorstop if you decide not to read it. it will work that way. the title of the book comes in the statement of jefferson. he referred to the united states, jefferson being the most expansive mind and president in

they have been particularly generous, from argentina, chile, brazil, cuba and mexico.very special thank you to the people of the dough minnick republic. to my own government, secretary clinton, secretary gates, administer shaw, secretary napolitano, and all of the agencies, officers and staff here in washington and on the ground in haiti who when faced with a herculean task have more than risen to the occasion. i want to say how grateful i am for all that you have done, are doing and will be doing in the days, weeks and months to come. i have seen firsthand your commitment, compassion, expertise and professionalism. i'm sure that mistakes have been made, but no one wants the aid to arrive more quickly and get to those who need it more than the u.s. personnel on the ground in haiti. for myself, i have never been more proud of my government or more proud to the people who serve it in it. i ask unanimous consent to submit an article into the record. the speaker pro tempore: without objection. mr. mcgovern: and with that i yeebyeeb. the speaker pro tempore: the gentleman y

host host: what is going on in argentina?guest: nothing ever goes well in argentina, unfortunately. it is a very rich country that has been very badly governed for many decades. and you have a very populist president, a woman who succeeded her husband as president. the two of them a sort of run argentine as though it were their form or their ranch. nothing is very clear in terms of policy. the central bank has been basically emasculated. the president of the bank is a very fine painter, but he's had no independence since she has come into power. people are beginning to blame the central bank, which is not true, for the mistakes of their administration. what we need in latin america are strong central banks, like chile and brazil. in the banks that understand how to keep the inflation low and the money situation bonds and that is not happening in argentina. host: north carolina, go ahead. caller: i think this has been very unfair from the beginning. i mean, back to the clinton administration. they were sending those people bac

well, we got to argentina and there was no photography in my day. it came along a few years later.e a bird. i was looking to see if i could find one. i did ride 400 miles inland with a row of cowboys. one night we were gathered around the campfire. i told him about this magnificent bird. i said, have you seen one of these birds? hey, si, senior, don carlos. you had just eaten them. >> well, okay. i told everybody gather up all the bones. we did. they didn't have a specimen. i also ran into general rojas that was slaughtering the pompous indians so that they spaniards could take their lands. it was a terrific. he had to get a passport from him. i came to general rojas. they asked me my name. i said don charles darwin.. your occupation? naturalistic? what is this i told them through my interpreter a naturalist is a man who is interested in everything, anything. a spy we were lucky to leave there with our friends intact. as we went down the coast the turned out there was a secret agenda to the voyage. it was not only to map the coastline of south america. the captain had his own ideas

my daughter the early and spent some time in argentina and is fluent in spanish so we have a translation of a review on our blog spot and spanish are latino friends can read about that. people all over the world have expressed interest it is a phenomenal experience but most importantly we are talking with 100 women from all over the world almost every day. we were here in washington d.c. at the steering dade -- serengeti gallery and one of our contributors set that up and it was a brilliant affair. we want you to know the network is working and it has changed our lives and there are people that we love we have a person who is sitting in the front row her name is betty and her husband adam. she had no idea i would mention this but all throughout she lives right down the corridor of where the obama inauguration parade would be going or moving in we were invited to come to her house to overlook the balcony. so daily we were getting photographs we're still in the process of putting up of everything that was happening along the parade route, who was going to be where and what the street looke

well, we got to argentina, and there was no photography in my day, came along a few years later, but inland with the rough gouchos or cowboys, and one night, we were gathered around the campfire, and i told them about this magnificent bird and i said, have you seen one of these ostrich-like birds 70 oh, they say, si, senior, you have just eaten him. well, ok. so i told everybody, gather up all the bones, after the dinner now and we're going to send them off to the british museum, and we did. they didn't have a specimen. and i also ran into general rojas, a great dictator that was slaughtering the pompous endans, to the spaniards could take their land and we had to get a passport from him and i remember i came to general rojas and they asked me my name and i said don carlos darwin, and your occupation. naturalist. naturalist, what is this naturalist, and i told him through my interpreter, a naturalist is a man who is interested in everything, anything. aha, a spy. we were lucky to leave there with our throats intact. well, as we went down the coast, it turned out that there was pa sec

my daughter lillian spent some time in argentina and is fluent in spanish so we have a translation of a review on our blog spot in spanish so all of our latino friends can read about this book in spanish.ou÷ and so people all over the world have expressed interest in it. it has been a phenomenal experience.hc0ñ but most importantly, we are talking with 100 women from all over the world almost every day. and last week we wereot[ here washington, d.c. -- or the capital heights, maryland, maybe at the gallery an absolutely fantastic place invited to come to her house and overlook from the balcony. and so daily we were getting photographs, which we're in the process even now of still putting up. photographs of everything that was happening along the parade route, who was going to be where, what the street looked like. so it was absolutely fantastic that again this network was keeping us informed as we were in our pajamas trying to put the book together. and trying to seal the deal. it's been an absolutely extraordinary experience. and what we want to talk about also is how is this book

iceland, argentina sends hospitals, field hospitals. i had better not continue because i will-- i could not name them all. i think that is part of the silver lining i am talking about. people haven't been talking about haiti and when they talk about haiti it is only in negative terms. the most, the poorest country in the western hemisphere or the most violent-- the past four years we have dealt with the violence and off the front pages with the violence. we don't talk about the good things happening, and now the worst happened and everybody is speaking about haiti. everybody is focused on haiti. everybody should have been focused on haiti a long time ago. because, haiti is the second independent country in the western hemisphere, the second only to the united states. in a you know for there were two independent countries, kati, the united states first and haiti. and i ventured to say that haiti helped the united states to be what it is. you can ask your questions later on. but, were it not for haiti, you probably would be speaking frenc

as planned, argentina and hospitals, field hospitals. i better not continue because i could not name them all. i think that's part of the silver lining i am talking about. people haven't been talking about haiti. and when they talk about haiti, it's only in negative terms. the poorest country in the western hemisphere when it was violent after they read the first aircraft about the destiny. well, the past four years we've dealt with the violence was off the front pages with the violins. so there's no violent to report about in haiti. we don't talk about the good things hardly. and now, the worst top end and everybody speaking about haiti. everybody's focused on haiti. everybody should have been focused on haiti a long time ago. because haiti is the second independent country in the western hemisphere, second to the united states. in 1804 there were two independent countries, haiti, the united states first, and haiti. and i., you know, i venture to say that haiti helped the united states to be what it is. you can ask your questions later

i developed a relationship with a-- what started as a dear, dear friend from argentina. >> last year, i had an affair. i violated the vows of my marria marriage. absolutely the worst thing that i've ever done in my life. >> like i say, i'm really sorry for what went down and what happened. >> i'm really happy for you, i'm going to let you finish, but beyonce had one of the best videos of all time. one of the best videos of all time. time. >> yowza, hard to believe that all happened this year. no telling what's going to happen in 2010, but we'll be on it. it's one of the most dangerous jobs in the military, doesn't involve direct combat. we'll take you to the front lines though and show you firsthand just how dangerous this can be up next. ntation g? carl. tell carl he's coming to new york with me. i thought you said carl was our best presentation guy. [ worker ] he is. just last week he told my team about fedex office print online for our presentations. we upload it to fedex office, then they print, bind, and ship it. the presentation looks good, right? yes, but -- wait, you didn't ac

he is a sophomore from argentina.ming to the temple campus just a couple weeks after graduating from high school in december. joining the team and helping them to their second straight atlantic 10 tournament title. >> steve: i think people were expecting to see pepe sanchez who was a no shoot, pass set-up guy. forenan does -- fernandez, a much better shooter. >> tom: st. joseph down 6 with the ball as we head towards the 7-minute mark. todd o'brien is a transfer from bucknell. very athletic move by idris hilliard. a foul on crosgile. the home of the temple owls. temple wearing the home white with the cherry red numbers trimmed in black. st. joseph in the road black with the white letters and numbers. these two teams have faced each other 148 times before this. and the temple owls have held the advantage with the overall record. with ramone moore's bucket and the foul, they hold an advantage tonight. >> steve: no one comes over to help. a little late and he is able to get his own rebound. a lot of guys standing around.

iceland, argentina sends hospitals, field hospitals.i better not continue because i will -- i could not name them all. i think that's part of the silver lining i'm talking about. people haven't been talking about haiti. when they talk about haiti, it's only in negative terms. the most -- the poorest country in the western hemisphere or the most violent. well, the past four years, we have dealt with the violence and off the front pages with the violence. so there is no violence to report about haiti. we don't talk about the good things that are happening. and now, the worst happened and everybody is speaking about haiti. everybody's focused on haiti. everybody should have been focused on haiti a long time ago because haiti is the second independent country? the western hemisphere, second only to the united states. in 1784 there were two independent countries, united states first and haiti. haiti helped united states to be what it is. but were it not for haiti, you probably would be speaking french on the west side of the mississippi now.

the questio what should prevent us from believing greece is drifting away, argentina style, what are the risks of spinning out to portugal, spain etc? >> i think the situation of greece is fairly different from the other argentinian example for instance. it is more difficult and on safe it's more difficult because greece is facing a huge deficit, accumulation of deficit and huge debt and it's more difficult than other countries because they don't have the control of one of the main ones which is the exit rate. so for us to do with a problem without having any possibility to move make us even more difficult than the fiscal side so the adjustment that is needed increase is even bigger than the same data that will be needed from other countries where part of the job could be done by just the extra weight. from this point of view it is difficult to read from another it is easier because it is a member of the zone and so the constraint on greece or constrained in the markets financing the deficit but they don't have a constraint of current. they are not likely to just collapse overnight b

we're working closely with our partners, the haitian government, and friends from argentina, france,nican republic, brazil, and countries all around the world. secretary hillary clinton will be in haiti today to continue this close coordination. we also know that our longer- term effort will not be measured in days and weeks. it will be measured in months and even years. that is why is so important to enlist and sustain the support of the american people. that is why it is so important to have the coordination for all of the support that extends beyond our government. here at home, president bush and clinton will help the american people do their part. responding to a disaster must be the work of all of us. those of devastation reminds us of our common responsibilities. it is a time where we can and must be a time of compassion. the scope of the destruction became apparent. i spoke to both of these gentlemen, and they asked the same simple question. how can i help? there will be asking everyone what they can do. individuals, corporations, ngos, institutions. everyone can help by visi

these countries are argentina, israel, russia, portugal, turkey, colombia, france and brazil.have doctors working in these hospitals from around the to include mexico and japan. thank you very much. at this time i'll take any of your questions. >> this is ann with associated press. you said in the past that troops will stay as long as they're needed but how long do you think that that might be and have you started to plan for the inevitable redeployment of these troops? >> ok thank you for the question. our response here, both from particularly from the united states military is in reaction to the emergency need to save lives and focused on humanitarian assistance. we are working with the united states agency for international development and the international community -- [airplane flying over] as they build up their capacity to provide that much-needed assistance, the need for our military resources is decreased. we are talking to them as they build the capacity to do just that. obviously along with usaid, united nations and other nongovernment organizations such as the rura

some countries like argentina decided from time to time they didn't want to pay their debt, and they're paying the piper for making those unwarranted public decisions in those countries. we do not want to be in that shape. but congress sometimes and too often has been very irresponsible, and i'm going to get into some of this current irresponsibility, but at the same time i don't want to say that some other political party is entirely responsible over a period of decades for irresponsible spending, but i think it's reached a new height recently. so because of that, i will be voting no. sometimes deficits are unavoidable. people know about wars. the number one responsibility of the federal government is to provide for the national defense. when the protection of americans or or a threat to our security, we meet that threat, and if that requires borrowing to do it, to expect the -- to protect the united states, we consider that justified. but you can't plan for wars. you can plan for peace by having a strong national defense, so wars is one reason. recessions is another. national disaster

that is equal to the gdp of argentina. my perspective, i have analyzed banks since the late 1980's. value the independent reputation of cosa, and i have been negative on banks since 1999 and have published over 10,000 pages of research to back up my view. i have identified ten causes for the crisis. if you can turn to slide three i will go through cause. cause one, excessive loan growth. we cannot accept reality that we are in a slower-growing economy, a more mature market. loans grew twice as fast as they should have grown, twice as fast as gdp. cause two, higher-yielding assets. the u.s. banking industry acted like a leveraged bond fund. more borrowing with the proceeds invested into more risky assets. look at treasury security. they went down some 32% down to 2%. that is the least risky assets. instead banks did more risky securities and risky loans whether it be home equity or construction loans. look at construction loans. the percentage of construction loans to total is double the level where it was even in the early '90's. cause three, too many eggs in one basket. look at dat