we welcome former fdic chairwoman, sheila bair. thanks for coming in. no concrete plan how to shrink the fed's huge portfolio. does that concern you? >> i think it is going to be a challenge for them. overall i'm glad they're thinking about how to get back to a more normal interest rate environment and that includes somehow dealing with this massive portfolio they have amassed but i think they need to be very careful. i hope they look at conventional tools they have to raise interest rates before they start for raying into potentially new facilities. i think it creates potential instability. david: this may sound like simplistic question and it is but the answer is anything but sim policetic. how will they eventually raise rates? it is not like oil days when they literally raised rates. now there may be new mechanisms to do that. explain. >> traditionally they have done it through the open market operations which basically means they sell treasurys to get what they call the overnight fed fund rate up. whether they can do that, given the massive excess r

. >> until july 2011, sheila bair was one of the government's top banking regulators as chairman of theal deposit insurance corporation. you just described it as pervasive. >> yeah. it is pervasive. it absolutely is pervasive. and it was just a matter of cutting corners, not spending enough money, not have any quality controls. >> although banks say the courts have been accepting their paperwork, that's changing as desperate homeowners countersue the banks over the document fiasco. this leaves houses unsold indefinitely, undermining the recovery. >> i'm very worried about, if this starts getting out of hand, the kind of impact it will have. >> these are lawsuits by homeowners... >> yes. >> who are being foreclosed upon saying-- >> or are in the process or have already been foreclosed on. >> saying, "prove it." >> yes, exactly. >> "prove that you own this." >> exactly. >> chairman bair thinks rotten mortgage documents are so threatening to the economy that the government should force banks to pay into a massive fund. but you think there needs to be a cleanup fund... >> i do. a cleanup fu

sheila bair, who i trust on these matters, says she thinks that sort of institution can be resolved. we're not going to know until we see one of these institutions hit the skids. so i guess what i really want to do is continue this line, because it's a useful line of analysis and ask mr. frank, if i have more time, i'll open it up. what i'm really interested in is we've established tools for regulators to both monitor, very aggressive tools, to change the nature of the businesses of systemically important institutions and a whole set of procedures to resolve those institutions in the case of them running into trouble. that may or may not be adequate. anyone who says they know the answer to that, of course, is not being honest. so my question is, i'll start with chairman frank. what more could we and should we do to make sure that we never see a repeat -- >> a central question, one of the things we should do is this. you know, fed chairman said what he thinks will happen if we have another crisis, congress will vote to give them money. no congress can bind a future congress. if that's

take pkg ;01 ; ; ; ; andrs baires/gerente de seguridad en contruccin mario armas/empleado, levi's stadium- 10.54.00 vo cuatro aÑos despues de que los residentes de santa clara votaran aprobando la propuesta que permitiria traer a los 49ers de san francisco al sur de la bahia... hoy es una realidad. sot 7.28.00 - 7.38.00 una satisfaccion... poder terminarlo. vo este proyecto de mil 200 millones de dolares estara disponible al publico a partir de ahora. un area de mas de millon y medio de pies cuadrados. sot 7.47.00-7.55.00 la mayoria... de este proyecto. sot 9.27.00 - 9.36.00 uff, eso vo el primer evneto que se llevara a cabo sera un partido de futbol entre los earthquakes de san jose y los seattle sounders. sot 8.04.00-8.09.00 toda la tecnologia... avanzados de la liga. sot 9.45.00 - 9.57.00 definitivamente... no hay discriminacion para nadie. outro 11.13.00 - 11.32.00 cesar ---esta noche continua el combate contra el mosquito portador del virus del nilo occidental.. take map ---personal del departamento para el control de plagas del condado de santa clara estara fumigando el area donde c

she village induced sheila bair. >> excellent. opportunity. the i'm honored to be moderating a panel that really needs no introduction. we have with us today the chairman of goldman sachs bank usa and the fed reserve bank of minneapolis. we also have sheila bair, the former chairman of the fdic and currently serves as a senior advisor. was ay, we have ray nater partner at his firm. he formerly served as a deputy chief counsel. i would like to kick off the discussion by asking each of our panel is to provide 10 minutes for opening remarks and the remainder will be devoted to a discussion followed by a few questions from our audience. the back drug for this panel is a seminal papers that were penned in 1982 titled "our banks special?" special?"nks we welcome your views. >> thank you very much. somewhat provocative agenda over the course of the day. i will deviate from my usual pattern and not be provocative. i probably will not succeed. all, i have made copies available someplace at here. 2010 imade available our think it was? me. stern succeede

bob bair, thank you so much. coming up next what would jesus do in gaza.e written of a column written by my next guest. later on cnn low number of casualties of hamas rockets in israel attributed to israel's iron dome defense system. how does it work? we'll take you there live. stay with us. [ female announcer ] when you're serious about fighting wrinkles, turn to roc® retinol correxion®. one week, fine lines appear to fade. one month, deep wrinkles look smoother. after one year, skin looks ageless. high performance skincare™ only from roc®. before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a few dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now. honey, look i got one to land. uh-huh. (vo) there's good more... honey, look at all these smart rewards points verizon just gave me. ooh, you got a buddy. i'm like a statue. i just signed up and, boom, all these points. ...and there's not-so-good more. you're a big guy... ...oh no. get

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suzanne will introduce sheila bair, gerry corrigan and ray natter. >> actually. thank you very much, con. things that opportunity. i'm honored to be moderating a panel that really needs no introduction. we have with us today gerry corrigan was the chairman of goldman sachs bank u.s.a., and the former president of the federal reserve bank of new york at the federal reserve bank of minneapolis. we also have sheila bair, who is the former chairman of the fdic, and curtl cursors as a senior ar to pew charitable trust. and finally we have ray natter was a partner at his law firm, and former served as a deputy chief counsel of the occ. so i'd like to kick off the discussion by asking each of our panelists to provide 10 minutes, that is a very brief amount of time, to minister opening remarks and the remainder will be devoted to a discussion followed by two questions from our audience. the backdrop to this bill is a seminal paper that gerry corrigan penned in 1982 titled "are banks still special." so jerry, of course it makes sense to kick off with you and we welcome yo

suzanne will introduce sheila bair, jerry caragan, and ray nadder. >> excellent. well, thank you very much, khan. thanks for the opportunity. i'm honored to be moderating a panel that really needs no introduction. we have with us today jerry coragan who is the chairman of goldman sachs bank usa and the former president of the federal reserve bank of new york and the federal reserve bank of minneapolis. we also have sheila bair who is the former chairman of the fdic and currently serves as a senior adviser to pew charitable trust. and finally, we have ray nadder who is a partner at his law firm, barnett, sivon & nadder and formerly served as deputy chief counsel of the occ. i'd like to kick off the discussion by asking each of our panelists to provide ten minutes. that is a very brief amount of time. ten minutes for opening remarks then the remainder will be devoted to a discussion followed by a few questions from our audience. so the backdrop for this panel is the seminole paper that jerry coragan penned in 1982 titled "are banks special?" it would make sense to k

i'm doug in for bret bair. north carolina are warning people about riding out hurricane arthur. mandatory evacuations have been ordered ahead of the first named storm of the atlantic hurricane season. with the fourth of july tomorrow, it could not have come at a worse time for the holiday travelers and businesses that depend on them. live at kill devil hills, north carolina, good evening, jonathan

i'm doug in for bret bair. the governor of north carolina are warning people about riding out hurricane arthur. mandatory evacuations have been ordered ahead of the first named storm of the atlantic hurricane season. with the fourth of july tomorrow, it could not have come at a worse time for the holiday travelers and businesses that depend on them. live at kill devil hills, north carolina, good evening, jonathan. >> reporter: good evening, doug. over my shoulder, you can see the first dark storm clouds just now beginning to approach. but for most of the day, we have bright sun, which was drawing thousands of people out to the beaches. local officials have been warning people to play it safe out in the waves because these conditions can be deceptively calm. sunshine drew people back to the beaches of the outer banks. but with hurricane arthur hours away, north carolina's governor urged residents and visitors to play it safe. >> don't put your stupid hat on. most injuries occur right before a storm or right afte

joining to us discuss all of this is kimberly dozier of global affairs analyst, and bob bair, a formera operative. kim, let's start with you. considering the number of dead now topping 1,000 in gaza, many, many civilians, and timages coming out of gaza, this huge mass scale of destruction, and it has completely overwhelmed women and children screaming. is israel losing the public battle, the world opinion battle, i guess, are they >> well, they've already lost it across the arash world. these are the kind of images that they've played on a much smaller scale over the years. the concern of u.s. officials is that these new fresh images, this fresh number of -- high number of dead will feed into the jihaddist ideology of militants across the region, that young men watching this might not be able to get in to gaza to help fight there but they'll be able to join the fighters in syria or other parts of africa where al qaeda and other groups are taking root. from hamas' point of view, fighting back continuing to fight back, that's kind of their model for being successful, staying in power. be

i'm joined now by cnn analyst rick francona, miles o'brian, bob bair and always former cia operative.ning. are you doing okay? >> good. >> fine, thanks. >> good. i'm going to start with you, rick, as you have told me. we saw in jean's piece, americans are init's creasingly worried about the impact of all this around the world and what's going on. as we look at the shelling in gaza tonight, how much of this is destabilizing to u.s., the u.s. and its interests? >> well, all of them in total destabilize the whole world. and of course our interests are worldwide. of course we have to be involved in this. and he know everybody in the united states is war weary. we're withdrawing from wars and we don't want to get involved in anymore. sometimes you only get one vote. the other guy gets a vote as well. if we face a threat from the islamic state, isis, whatever they're calling themselves now. if they set up a quasi state in what is now iraq and syria and they start exporting terrorism, we're going to have to deal with that whether we want to or not. >> bob, today u.s. and europe agreed to imp

i'm joined by cnn national security analyst and former cia operative, bob bair.elcome to both of you. >> thank you. >> what kind of new weaponry are they afraid of? >> well we're talking about asiri, a bombmaker, capable of taking an explosive, not to get too technical but ketm. he can plasticize this and put it inside a liner of a suitcase or any other object you might carry on to an airplane, hide the detonators, plastic detonators, hide the wiring. it's very difficult for airport security to catch this. you almost have to know who the bombmaker is and who is actually carrying it. >> so mary, talk about how the tsa can protect passengers. >> well, so much of what our investment has been, it's passenger investment because they paid so much of the taxes but it has been an increasingly tsa's ability to detect the bombs. we have all new equipment. the equipment we have at the airport is not what we had in the airport in 2001 and it's aimed at detecting these things. often what we find is that despite how much equipment we have aimed at detecting it, unless they tre

bob bair. the ukrainian troops advancing on donetsk. what do you think is going on here? do they want to re-take the city or trying to re-establish control? >> i think they want to do this before russians move equipment in there. if you saw the types of equipment the russians are massing it is pretty serious stuff. the .22 millimeter rockets pack one heck of a punch and can use it against government troops and it could be decisive. they want to pre-empt that. i have to tell you their concern over the crash site is waning. they are more concerned about their fight with the pro-russian separatists than the security of the disaster site. >> not a very good thing to hear. is this an attempt to take control of the city entirely? and could this all back fire on the ukrainian forces? >> i think they are going to make a move to take the entire eastern ukraine. i think there is no doubt about it. they will put everything they can into it including their air force as we have seen. in as much as we can assess what putin is up to he is not going to let it happen. if he has to he will

bair, in your book, one of your reforms included abolishing the occ. [laughter] at the time -- >> wow. >> -- regarding the agency's future with mr. curry taking over as controller. do you still espouse this proposal? and if not, how has the occ altered its behavior to cause you to change your mind? and are there any be particular rules, guidelines or other regulatory actions that you would point to as evidence of this improved and reformed behavior? >> there is. >> thank you. >> well, look, i think my experience with the occ was during the time which predated tom curry's ten your here. he was at -- tenure here. he was at the fdic, on the fdic board. was one of great frustration. there were a lot of disagreements, and i felt as opposed to being a partner in trying to make sure these banks were stable, it was an impediment. i also think just having so many regulators can complicate supervisory response in rule writing, and so having a framework where you had the fed as holding company regulator and the fdic as regulator of insured banks seems to me to he

. >> is that core of party or -- >> saying a lot of same things sheila bair said. she is republican. melissa: another hurdle for the housing market, home price levels in dozens of cities will not achieve precrash levels for three years. erse doz and hamas in gaza. more coming up. you make a grea. it's been that way sincthe day you met. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take alis if you take nitrates for chest pain, as this may causan unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immiate medical

frontlines of this effort because you lead the fdic's office of financial research under chairperson bair. do you feel fdic and domestic and global regulators have objectively -- he reforms and they implement? >> absolutely not. the fdic to the best of my knowledge, and i was polite officer for all economists, never did any cost-benefit analysis for any rule internally and they were scared to death that it would become a requirement. the federal reserve on basel i never saw any cost-benefit analysis. it came out of the federal reserve nor did i see that came any hour of -- and he became out of the occ. i was the chairman of the basel research task force for the last three years. when the basel put out its cost-benefit analysis on the effect of adopting basel iii. i was on the group that was going to write the paper. the paper assignment came from the chairman of the basel committee right before the icelandic volcano erupted in march of that year in the meeting was canceled. there was no meeting of the group never held through deterrence pay per ride my e-mail box in june. i was not involv

sheila bair thinks we have. tim geithner thinks perhaps we haven't. this is a terribly important question and one that is worthy of good, strong, bipartisan consideration and debate and with that, mr. chairman, i yield back the balance of my time. >> gentleman yields back. the chair now recognizes the gentleman from indiana, mr. stutsman, for one minute. >> thank you, mr. chairman. and for calling this hearing and thank you witnesses for taking the time to speak with us today. as we will hear today, dodd/frank has failed to end bailouts and failed to lift the economy as the president promised. in practically every way dodd/frank puts regulators ahead of taxpayers and consumers. still no one believes the economy has been made safe from future bubbles or bailouts. what the lenders in front of us >> we'll now turn to our witnesses, each of whom i will introduce briefly. first we welcome mr. del wilson, chairman, president, and ceo of the first state bank of san diego, texas. next we welcome mr. anthony carfang, a partner at treasury strategies, a firm th

change the opinion takes a look at how important family was to them and how it informed and came to bairon the writing of the constitution and the forging of the new nation. it's a brand-new look at the great core of our foundation and the contemporary politics. >> who was laurie glover? >> she's an academic, a very wonderful professor. we think will do really well with that. >> what kind of books is the outlook for? >> i think we do best when they look at dollars to bring all the chops that they are not a scholarship to a kind of narrative story that's actually going to crossover. we are known as a trainee academic accounts. we love to speak with authors who want to broaden their spirit influence and lay people who aren't in the academy, but still want to learn of learning. >> a very quick look at some of the books coming out from yale university press in the fall of 20 for teen.