when you talked with in-coming chairman bacchus.u receive support from him as it goes to full committee level? >> i'm working on the assumption i will. the conversations i had with the chairman basically said you're in charge of that subcommittee. that doesn't mean that you know, the first woke in january i sunday over a subpoena for bernanke and demand he come over with a pile of papers. i don't think that would be logical. to start sending requests to their accountantas and -- accountants and other people. we want to at least add. they can still hide behind the law with foreign banks. they billed out a foreign central bank. they dealt with that before the bail out was occurring. that was one set of information that they cling to. so i will continue to work on that. but it's to the american people's benefit for us to know who is getting bailed out. >> congressman, doesn't the u.s. benefit from the dollar being used as a global currency? and if the fed doesn't lend to foreign central banks. how can the dollar remain a global currenc

note to wall street, spencer bacchus is at your service. told his local alabama newspaper -- he later tried to clarify, saying he meant that banks shouldn't be micromanaged. either way, is this the guy you want in was? a guy who thinks bankers are the ones who need protection? next, where's michelle ree when we need her? michele bachmann says he's planning weekly civics classes for her members of congress. >> we're going to do what the nfl does and the baseball teams do. we're going to practice our craft, which is studying and learning the constitution, the bill of rights. here's a sampling of her pearls of wisdoms over the years. she's called the white house a gangster government. compared americorps to education camp. she's called for republicans to slit their wrists and become blood brothers to defeat obama care and called for members of the united states congress to be investigated for quote anti-american views. this is an odd person to give a class in constitutional law. tonight's big number, yesterday, would be senator joe miller file

our winner, congressman spencer bacchus from alabama celebrated as the house financial services committeeng if it comes to the money changers, he has a main street view, not a wall street view. now is the time to get government out of the way so businesses can create jobs and grow the economy. in washington the view is that the banks are to be regulated and my view is that washington and the regulators are there to serve the banks. to serve the banks? mr. and mrs. america, don't get on that ship. to serve the rest of it to serve the banks? it's a cookbook, and we're the bank's lunch. spencer main street, if all the banks are located on main street, he's today's worst person in the world. naturally colorful vegetables are often a good source of vitamins, fiber, or minerals. and who brings you more natural colors than campbell's condensed soups? campbell's.® it's amazing what soup can do.™ slow you down. introducing bayer am. its dual-action formula delivers extra strength pain relief, plus it fights fatigue. so get up and get going with new bayer am, the morning pain reliever. >>> the very

our winner, congressman spencer bacchus from alabama celebrated as the house financial services committeey saying if it comes to the money changers, he has a main street view, not a wall street view. now is the time to get government out of the way so businesses can create jobs and grow the economy. in washington the view is that the banks are to be regulated and my view is that washington and the regulators are there to serve the banks. to serve the banks? mr. and mrs. america, don't get on that ship. to serve the rest of it to serve the banks? it's a cookbook, and we're the bank's lunch. spencer main street, if all the banks are located on main street, he's today's worst person in the world. some >>> the very first war on christmas was first waged by christians. before the american revolution, christmas was against the law in several colonies, because puritans considered christmas a day of alcoholic revelry. eventually xhismous christmas was mixed with santa claus, who got himself commercialized as a way to sell stuff. these days the war on christmas is fought by the christian right as

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note to wall street, spencer bacchus is at your service.at the incoming republican chairman of the house financial services committee just told his local alabama newspaper. "in washington, the view is that the banks are to be regulated, and my view is that washington and the regulators are there to serve the banks." congressman baccus later tried to clarify saying he simply thought banks shouldn't be micromanaged. either way, is this the guy you want in control? >>> next, where's d.c. school reformer michelle rhee when we need her? michele bachmann says she's planning weekly civics classes for her fellow members of congress. >> we're going to do what the nfl does and the baseball teams do. we're going to practice every week, if you will, our craft which is studying and learning the declaration, the constitution, the bill of rights. >> wow. here's a sampling of bachmann's pearls of wisdom over the years. she's called the democratically elected congress and white house a gangster government. she's compared americorps to reeducation camps and

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bacchus. >> this is really an opportunity to go back to debate of how many regulate of the economy and the financial system. can you debate whether there's too much or too little coming into the financial crisis. this will be a test of whether it makes sense to pull back and ron paul is very much a libertarian and believes we should pull back that regulation. this will be the test to see if there's traction on this >> mr. hardy. anything to add on what your sources tell you? >> no. afraid not. >> we are just about out of time. so we will use that as a thank-you. this very busy week of congress. they are struggling to get to closure to look to the new congress in the area of financial services. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> this "newsmakers" with ron paul airs again later today at 6:00 p.m. eastern on c span. >> tonight, supreme court justice kagan. this interview took place in her chambers in the supreme court. >> i think i became a lawyer for all the wrong reasons. when i was a law school dean. i tol

copyright national cable satellite corp. 2010] >> said the democrats talking about the failure of the bacchusand schumer amendment. majority leader harry reid announced they will be taking up the impeachment of federal judge porteous of louisiana and will be taking further action on federal spending bills. unemployment rose to 9.8% adding just 39,000 jobs in november, far below the expected job growth. the bureau of labor statistics gave the new unemployment numbers to the joint economic committee. this is about one hour. >> ok. today's hearing will mark the last that i will chair as the chairwoman of the joint economic committee. almost two years ago, shortly after the inauguration of president obama, my first hearing was also with commissioner hall. the news he presented that day was rather grand. the previous month the u.s. economy had shed a staggering 654,000 jobs. today's news is a little better. we are trending in the right direction, but not as strongly as we wanted. today's employment report shows the economy added 50,000 private sector jobs last month making november the 11th straig