key question, barney and then ron, barney, are we going to get a bill? >> i believe we will. that's just an anachronistic rule. they used to read thins allowed in the parliament in england because they didn't have type writers or computers. but i think you are going to get a bill. >> larry: ron, are we going get a bill? >> no, i'm saying that we will not. we'll get something but not a real bill. there will be some incremental increase in government involved in medicine. but it won't solve our problems. in a sense, there will be a bill. it's going to be very, very minimal. just something where they can say, oh, we did something. we have been doing it for 35 years incrementalism. but we have corporatism, the corporations run the ship. the drug company, the insurance companies, the management companies, they run it. the corporations are still being protected even with this administration. >> barney frank is ron paul remain with us. ben bernanke is "time's" person of the year. some other panelists join us. should he be? that's next. but only malibu has onstar. big deal. i'll just

wlk barney frank and ron paul remain. joining us, a political analyst for the huffington post, and ben stein, a speech writer and columnist. what are your thoughts, ben and tan yarks about the role joe lieberman is playing in the health care question. tan tanya, you first. >> i am shocked and appalled. i am not shocked. but i find his behavior appalling. he said in an interview last night that dana bash he had to take a principled stance against this bill. but he seems he is takes a stance against himself. he used to support the provisions because he doesn't like them now. he is really a big disappointment. >> larry: ben what is your read? >> the last time i looked he represents the state of connecticut, a state with heavy insurance companies. hi wants to please them. and buy-ins suffering and medicare could be very, very expensive to a government and people that are already broke on government overspending. he represents the state where the insurance companies are. >> larry: but the people are very liberal. >> the people

there is a depiction of barney frank here. off to let them talk about the president like that. i have been 14-year-old. what is going to happen to this country? these white folks, everything that obama do, they have -- my kids have gotten so that they hate white folks because everything that comes out of their mouths, they have nothing to say good about obama. how can you sit there and listen and let them call him a clown and you do not cut their phone? you know, if i was obama, i would not even try to do anything because you have got all the white folk who are still living in the '40's. this country will never change until all the white boys are out of here. i am from the south. i was born in 1940. it is 10 times more prejudiced now than it was in the '40's when i was coming up in the south. this country will never be no good until they get rid of all of these white folks and the young people take over and do not see all of these prejudiced old white folks. host: thank you from cleveland, ohio. we will be reassuring -- rearin

caller: barney frank to be in jail caller: i think barney frank should be in jail. he has done so much damage to our financial industry through intervention into establishing prudent banking regulations, banking practices. the government intruded into these prudent established banking companies by forcing them to lower and you can see where this has gotten us. like in this country at any one time. some of it is for political advantage, some of it is philosophical difference, some of it is misinformation and understanding. and some of it is true. the reality is that mr. frank is not responsible for the disaster, one. two, he has had a sympathetic ear in the past and has taken encouraging steps. he was not the final regular -- regulator. none of us are. we pass laws, regulators implement them. contrary to what you might think, they do not always agree, they do not always implement them in a way that we would like. they have a separate function as a regulator. i think that to try and find at this 0.8 justification for -- find at this point eight justification for the p

[cheers and applause] and barney frank, that's just a given. let me just tell you something. they are noddy and we are nice. and we are voters who are making our list and checking it twice. we are gathered today to declare anew our independence. and for the nice part the dinosaur media. they think you're a bunch of djs luke duke's who don't really know what time it is that you should be over in copenhagen with the real people. [laughter] that what we are declaring today, and now numbers and in our passion of so many of you are busy with christmas and all the things that come along with it, we are declaring our independence from a government with a terminator like determination to enlist every american as a lord of the stage. a government that only clear ideal is greater dependency and a sense of greater dependency on it. it's a government so practiced in protecting itself from democratic principles that this is the closest mankind has ever, to creating sound travels faster than light. [laughter] today under this mask of health care reform, washington threatens its greatest in

we he a bill from barney frank's commite that will -- >> lehrer: in e house. >> in the hoe -- that wouldhan the regulatory structure rather consirably. i don't agree wi all of it. but i thk bernanke is an experienceperson who was a studt of the great depression, had handled himself extrely well under fire, as jamie lbraith said, and is the rig rson to go on leading e fed now. >> lehrer: professor gbraith, if not bernae, who? or do you ink in terms like that? th, well, there is a better person out there who couldo the b? is it what you say, a ltural problem, not an individual pblem? >> i thi there are capable people. there are capable ople in the federal reserve stem now who would be put in arge. people who have the requite experice and the leadership capacity. the esident made a choice to -- in effect, to connue mr. bernanke, but the senate can, if it chooses, obli the president to make a dierent choice and i guess mview is, withoudisagreeing with alice very strongly about chaian bernanke's personal meritshat that wou be the better policy decision at this momt. >> lehrer: but that's not

kilroy: i yield two minutes to the chairman of our committee, barney frank. the chair: the gentleman from massachusetts is recognized for two minutes. mr. frank: the gentleman from texas's instinct be known overcomes that so he has to say negative things. among them, though, the most outlandish is his continuing effort to blame unemployment on president obama. president obama inherited from president bush a very serious recession. it turns out now the worst since the great depression. and it was begun by those who certified the nonpartisan entities that do that. in december of 2007 after many years of republican rule, both in the house and senate and in the white house. unemployment is decreasing now, and you don't go from very bad to perfect. but this effort to evade responsibility for the republican policies that caused this recession is, as i said, one of the great examples of blame shifting. i have to say again, we suffered a great disease outbreak on january 23, 2001. mass amnesia hit the republican party. the massive deficit that brought about our finan

caller: i'm a green, i hate to admit it but i think the most impressive is barney frank.ke the man personally but i think he has really got the answers we need to listen to. host: what are the things he is saying? caller: he really understands the shell game that was played with the bundling of securities. he really understands we need regulation. free enterprise without regulation is really just piracy. host: ron on the democratic line from pennsylvania. caller: in my view, a tie between al gore and robert kennedy, jr.. primarily because of a lot of the predictions they have been making in the last few years have come true, including robert kennedy, jr., who really drove home how the conservatives have donated -- war had funded institute's and universities and got a few professors to basically be deniers on global warming simply so that the conservatives could say that there was an opposing view on global warming and here we are at copenhagen and this has come true and a big way, people are actually trying to make a cogent argument that there is no global warming and hum

that has received many sponsors, even though barney frank wanted some version attached, but not what paul wanted. that will be an issue, whether it entitlement spending should be a commission in where we are as far as tar p funding -- tarp funding. should we have another stimulus? timothy geithner has been under the gun recently. timothy geithner and ben bernanke has worked closely recently, but ben bernanke's relationship with congress is better than timothy geithner's. he reached out to the hill, had members over to his office, had breakfast and talk shop. he and a member of the senate famously talk about their love for the red sox. i think if he will be confirmed, no doubt about that, but there will be some grilling of him this week. host: bob cusack, thank you for your time this morning. guest: thank you, greta. host: next caller, good morning. caller: you are beautiful today. obama wants to change things? start teaching medicine in high school. host: we are listening, arnold. caller: we have a free education system, why not make medicine free and to make a nation of doctors and

what barney frank has done has tried to put us back to the point where we can combine the progress thath the rules of the road. there is just too much money. there is too much money from lobbyists and what have you in the system. if the senate acts the way on this as they have been acting on health care, this country is up the creek. host: another twitter -- allowing bankruptcy judges to modify mortgages on primary residences should have been in this bill. san antonio, texas, independent line, go ahead. caller: i am curious we have a bunch of folks who are thieves. they want to regulate the private sector. it was a for the private sector, we would not be here today. government can only create debt. the debt that they create for themselves -- last year, when the president was talking about the post office, the guy standing next to him was making $800,000 per year. i think that is a little bit too much money it for me to work my backside off so that he can live better than we do. there has to be a reason why government employees, federal, state, local, get more money for whatever they do

caller: barney frank to be in jail.one so much damage to our financial industry, turning intervention into established banking regulation and practices. the government and treated it to the established banking practices by forcing them to lower their standards. you can see where that has gotten us. guest: i would like to defend my chairman and most of us do that all the time, but i would have to defend it not necessarily on your particular challenge, but just generally. look, there is a lot of information and misinformation in this country at any one time. some of it is for political advantage, some of it is philosophical difference, some of it is misinformation and understanding. and some of it is true. the reality is that mr. frank is not responsible for the disaster, one. two, he has had a sympathetic ear in the past and has taken encouraging steps. he was not the final regular -- regulator. none of us are. we pass laws, regulators implement them. contrary to what you might think, they do not always agree, they do no

barney frank who is chairman of the financial services committee has signed on. it would propose to target $3 billion from the tarp program towards jobs relief. it would designate another $1 billion for grants to state and local governments to purchase foreclosed properties and use them for more productive purposes. host: does this do enough? guest: it is an excellent example. congress will men waters chairs the housing committee of that committee and -- congresswoman waters. she is looking at strategies to address the problem, making the country stronger. this is a great first step. it is an example of what we're trying to do in every area. to uplift everyone. the economy as we all know is in shambles. - digit unemployment, twice that in the black and latino communities. host: does that mean when the bill comes to the floor that cbc members will direct even more money towards black and latino communities? guest: we're looking at how to create job training and jobs. each legislative measure coming forward, we have our agenda. we looked at our legislative efforts

we also thank barney frank for including another $1 billion to strengthen the neighborhood stabilization program that will rehab foreclosed housing and also create jobs. this funding is needed because our current foreclosure prevention programs address the initial cause of our foreclosure crisis, subprime and predatory lending, and not the current cause, unemployment, which is, at 10% nationally, and minority communities 13% to 15% plus. we know that these kinds of loans can work. since 1983 pennsylvania has run a very successful loan program, just ask mr. fattah, that has saved 42,700 unemployed homeowners from foreclosure. mr. speaker, foreclosures and unemployment present a systemic risk to our economy. therefore i strongly urge my colleagues to vote yes on the manager's amendment and on h.r. 4173. this is a very important piece of legislation. i yield back the balance of my time. the chair: the gentlelady's time has expired. the gentleman from alabama. mr. bachus: thank you, madam chairwoman. i yield myself such time as i may consume. the chair: the gentleman is recognized. mr. bachu

and in fact, that's one reason that we so vigorously oppose what chairman barney frank.and this is it a 1,300-page bill. it's bigger than the original health care bill. so this is a massive bill. and it reaches every segment of our economy. whether you extend credit or whether you want to, you know, you want to receive credit. you make a loan or receive a loan. you're regulated. and the fwoft will make a lot of decisions that individuals and financial institutions in the past have made. host: let's go to our caller. paul is on the republican's line and wilmington, ohio. caller: yes. basically i have a comment and a question. and i don't know how we got to this point, but my point is i am a working man and i have never received any check from a poor individual. it always has been the rich man who has allowed me to support my family. now, in 2005, the company i worked for [inaudible] we had the highest sales. went from $15 million in three years to $40 million. in 2006 when the democrats, whatever legislation was drawn up to allow the stock market to outsource our jobs, th

. -- we passed legislation led by barney frank just last week. wheat ended on a note of job creation. i want to congratulate all of those in congress who are present here. i want to acknowledge mr. reuthoyer, mr. larson, mr. mill, ms. delauro, but they and other members were part of bringing together this important and obsession for us. i just want to say this. when we began this year, i think it is important to note, when we began this year, the first month of the year, this economy lost 740,000 jobs. because of our recovery package and the leadership of president barack obama, in this last month, the economy lost 11,000 jobs. 740 a year ago, 11,000 last month. we do not want to lose any jobs. we're going on the path of creating a net gain of creating new jobs. in that same period, the stock market went up over 3,000 points, from the day president obama took office where the market was about 7000, to now over 10,000. economists tell us a lot of that change relates to our recovery package and other fiscally sound measures taken by congress. and i

and if the government comes in and then points a -- an overseaer which is what the barney frank financial services bill does and they go in and look at capital investments and business management and they decide who's going to make how much money with another regulator for our financial institutions, we have given up a big piece of our liberty, a big piece of our freedom. but what we're focused on, mr. speaker, we're focused on this week, this national health care act, this socialized medicine act that barrel passed out of the house of represent -- barely passed out of the house of representatives, that's down in the senate and the issues that set before the senate seem to be a couple of big once -- ones. one of them is the pro-life amendment. here it is the stupak amendment where 64 democrats had the opportunity to vote to put up a pro-life vote that they didn't believe that the taxpayers of america should be compelled to fund abortions through money that is extracted from them unwillingly and so therefore the stupak amendment came up, of 4 -- 64 democrats voted for it. 64 democrats and

the wall street reform and consumer protection act and we should give barney frank and the financial services committee, republican and democrat, every credit for extraordinary work in these extremely difficult times for our country. but this protection act makes reasonable and responsible changes to our financial regulatory system and enacts long-needed consumer protections. after months of debate, countless hearings and votes on this very floor, this rule will finally allow for its complete and timely consideration. mr. speaker, i urge a yes vote on the previous question and on the rule and i yield back the balance of my time and i move the previous question on the resolution. the speaker pro tempore: without objection, the preeven question is ordered. the question is on adoption of the resolution. those in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. the resolution is agreed to and without objection the -- mr. sessions: i ask for the yeas and nays on the rule. the speaker pro tempore: the yeas and nays are requested. those favoring a vote by the

i do not know anyone else who's fan base includes barney frank and ted kennedy as well as mitch mcconnellorge w. bush. that is a coalition-builder. few have matched his reach across the aisle from working with protecting title 9 to sponsoring the fair housing act with malwalter mondale. he did not care whether the bill was popular or politically expedient, democratic, or republican. he cared about whether it helps people, whether it made a difference in their lives. that is why he fought so hard for medicare and the minimum wage, for so rights and women's rights. that is why he became an advocate for affordable housing, establishing protections that are the standard to the state. it is a record that defies labels and categories for which she had little use. he offered phrases like creative moderate or a liberal with a conservative bent. but in truth, his career was animated by a faith in the people he served. he always got to see the best in people because that was the fact he had. maybe it was his old fashioned manners and warmth. maybe it was his charm and charisma. or maybe it was as g

we passed our legislation led by barney frank just last week.at happened today because we ended on a note of job creation. job creation in a fiscally sound way. i want to congratulate all the members of congress who are present here for -- and i will acknowledge mr. hoyer for his tremendous leadership, mr. clyburn, our whip, who counts the numbers, mr. larsen, i don't know if he's joined us, mr. van hollen, mr. becerra, mr. miller, ms. delauro, ms. slaughter, i don't know if she's joined us yet. but they were important about bringing about this important, important end of session for us. i want to say when we began this year, it's very important to note, when we began this year, the first month of the year, this economy lost 740,000 jobs. because of our recovery package and other actions of congress and the leadership of president barack obama, in this last month, the economy lost 11,000 jobs. 740,000 a year ago. 11,000 last month. we don't want to lose any jobs. now we're going on a path of creating a net gain of many more jobs. but it's import

of like to see some account will be for chris dodd and barney frank.president obama is traveling very fancy on the tax paradigm. if he were really concerned -- on the tax payer done. if you were truly concerned when he cut back on his entertaining, eight nights, traveling to pick up awards? and stop all the taxation? to redistribute wealth not only in the u.s., but worldwide? host: thank you, marie. there is certainly blamed for politicians going around. guest: barack obama does not want to be seen on the side of bankers at all. all the spending is necessary to finance the bailout we saw last year -- it is causing a lot of anger. you hear that a lot. the president is caught. he does not want to be on the side of those who cause the problem. you hear from republicans the anger at congress and over fannie and freddie. it might plan to some of the troubles for chris dodd from connecticut, chairman of the senate banking committee who has been viewed as extremely close to wall street in the financial industry. he has been making strides to distance himself

i do not know anyone else who's fan base includes barney frank and ted kennedy as well as mitch mcconnell that is a coalition-builder. few have matched his reach across the aisle from working with protecting title 9 to sponsoring the fair housing act with malwalter mondale. he did not care whether the bill was popular or politically expedient, democratic, or republican. he cared about whether it helps people, whether it made a difference in their lives. that is why he fought so hard for medicare and the minimum wage, for so rights and women's rights. that is why he became an advocate for affordable housing, establishing protections that are the standard to the state. it is a record that defies labels and categories for which she had little use. he offered phrases like creative moderate or a liberal with a conservative bent. but in truth, his career was animated by a faith in the people he served. he always got to see the best in people because that was the fact he had. maybe it was his old fashioned manners and warmth. maybe it was his charm and charisma. or maybe it was as genuine intere

that has received many sponsors, even though barney frank wanted some version attached, but not what paul wanted. that will be an issue, whether it entitlement spending should be a commission in where we are as far as tar p funding -- tarp funding. should we have another stimulus? timothy geithner has been under the gun recently. timothy geithner and ben bernanke has worked closely recently, but ben bernanke's relationship with congress is better than timothy geithner's. he reached out to the hill, had members over to his office, had breakfast and talk shop. he and a member of the senate famously talk about their love for the red sox. i think if he will be confirmed, no doubt about that, but there will be some grilling of him this week. host: bob cusack, thank you for your time this morning. guest: thank you, greta. host: next caller, good morning. caller: you are beautiful today. obama wants to change things? start teaching medicine in high school. host: we are listening, arnold. caller: we have a free education system, why not make medicine free and to make a nation of doctors and

one it creates additional billion dollar spending in the barney frank slush fund, housing slush fund, and makes acorn available to get back in the game. much to the chagrin of this body. it also replaces the $2 billion in clash for clunkers money that came out of the stimulus bill last summer. we were on the floor when the proponents of the cash or clunkers said this will not increase the deficit because we'll take it out of the stimulus money. immediately the speaker came to the floor along with others saying contrare, we'll find a replacement for that $2 billion in this bill. now the stimulus bill, first stimulus, is up to $789 as you know we all enjoyed the cash for clunkers, but this money is back in the bill with respect to this new stimulus. the other bill i'd like to talk about is the defense department appropriations bill, this bill waives the demand, requirement, that the chairman of the appropriations committee post on the internet the earmarks and/or plusups depending how you want to call those in this bill. some 1,700 of them we are told. some good, some bad. we ought to k

. >> my mother has called me barney, but i am looking at the arguments for continuing space exploration. we are getting to the end of the shuttle program and budget is one of the big montrose. what do we see with support for technology and the intellectual science fields? >> money. >> let me start. i believe it is science is the international language of peace. when we join on a scientific endeavors, that is a unifying theme. budgets are tight but i believe exploration is this grant is a venture that is an integral part of us being human that we have to do it. great nations are nations of great explorers. look at the spacecraft around the moon. we have chinese spacecraft and indian spacecraft. these are all international participation, so there is no question that if we don't explore in this country, somebody else will. i like it that we are the leaders. >> almost every mission we do is international. you can harken back to [unintelligible] we were exploring together in space. we can be trailblazers for nations building bridges throughout space exploration with science, and we are doing

giving the gemente democratic hurem -- humor was barney frank. she says, if the election had turned out differently, vice president biden would be out selling his book "going rogaine." caller: i'd like to tell the president, i'm on disability and medicare. the last time i saw my doctor on 11-18 last month, he told me if the health care bill passes, he's going to drop me as a medicare patient. medicare told him they will only pay rd 15 a visit, and he can't afford that. so what am i supposed to do? i would like mr. obama to tell me if he can write my prescriptions to keep me alive, because i need those prescriptions. i haven't done nothing wrong. host: what's your condition? do you have any preexisting conditions? caller: yeah, i got shot back in the 19 p 70's, i've worked most of my life. i'm 53 and disabled. the old gunshot wound came back to haunt me, so i had to stop working, which i didn't want to do. so now i'm on disability. that's bad enough. it doesn't pay very much. i just want to know how i'm going to get my prescriptions if my doctor c

you can be sure that there will be many folks in washington, barney frank leading the brigade, tryinghance of taking back the senate. only 1/3 are up in a separate -- in the senate. i think it is almost impossible for the republicans to gain control it might happen in the house but it would be a stretch. there are 40 secret i don't suspect that would happen but you have a great folks coming next week to tell you about it. guest: in 1966, after the midterm election, i think it was 50 seats that republicans got back after that huge lyndon johnson landslide in 1964. they swept a lot of guys in and swept and out quickly. guest: these things can happen but it is unusual call. caller: i am sitting down and listening to these two brilliant gentlemen. i have been watching c-span for the longest time. i5 voted for mr. clinton. i voted for mr. obama, as well. i don't understand why mr. bush was in office. all assigning and mr. bush goes to iraq. [unintelligible] obama is trying to do the best. these republicans really said in office and criticized what mr. obama is doing. host: that is a senti

of like to see some account will be for chris dodd and barney frank.president obama is traveling very fancy on the tax paradigm. if he were really concerned -- on the tax payer done. if you were truly concerned when he cut back on his entertaining, eight nights, traveling to pick up awards? and stop all the taxation? to redistribute wealth not only in the u.s., but worldwide? host: thank you, marie. there is certainly blamed for politicians going around. guest: barack obama does not want to be seen on the side of bankers at all. all the spending is necessary to finance the bailout we saw last year -- it is causing a lot of anger. you hear that a lot. the president is caught. he does not want to be on the side of those who cause the problem. you hear from republicans the anger at congress and over fannie and freddie. it might plan to some of the troubles for chris dodd from connecticut, chairman of the senate banking committee who has been viewed as extremely close to wall street in the financial industry. he has been making strides to distance himself

before i conclude my remarks, madam speaker, i'd like to thank chairman barney frank and his staff at the financial services committee for their efforts in bringing this legislation forward. this bill would not be where it is today without the ranking member spencer bachus. he's been a vocal advocate for this cause since the very beginning. thank you very much. i'd also like to thank congressman dennis moore, congresswoman kay granger and their support as original co-sponsors. and finally, i'd like to thank my good friend from indiana, congressman joe donnelly, who was helpful throughout the entire process. i urge my colleagues to pass this important public safety legislation. the cost of a noaa radio is a mere $30 to $80. madam speaker, i yield back the balance of my time. the speaker pro tempore: does the gentlewoman reserve her time? ms. waters: madam speaker, i have no further requests for time. i yield back the balance of my time. the speaker pro tempore: the gentlewoman yields back her time. and the gentleman from virginia? mr. wittman: madam speaker, i yield myself such time as

the acts the behavior with our speaker of the house, nancy pelosi, harry reid, barney frank, which toecta of what happened with the housing market. guest: unfortunately, and i say unfortunately because i mean it, both sides have had plenty of problems. it really hurts. i believe in santa claus and the easter bunny. i really believe people who come to congress want to do right and they really care. if those that differ with me, fine, they differ with the brit every time something like that happens, it erodes the congress. it is like a dam. you are taking another little part about -- you are taking another part out of it. people say there they go, you have for the 20 people in the house working hard, good staff people on both sides. i think it is a shame because i believe you have a higher responsibility, a higher duty when you are in that office. there are higher standards you live to, and i do not think that is being done. it is very frustrating, and you know what i would like to see? i would like to see a two-year house member, a one-term senator, in a four-year president. i would li

[cheers and applause] and barney frank, that's just a given. let me just tell you something.hey are noddy and we are nice. and we are voters who are making our list and checking it twice. we are gathered today to declare anew our independence. and for the nice part the dinosaur media. they think you're a bunch of djs luke duke's who don't really know what time it is that you should be over in copenhagen with the real people. [laughter] that what we are declaring today, and now numbers and in our passion of so many of you are busy with christmas and all the things that come along with it, we are declaring our independence from a government with a terminator like determination to enlist every american as a lord of the stage. a government that only clear ideal is greater dependency and a sense of greater dependency on it. it's a government so practiced in protecting itself from democratic principles that this is the closest mankind has ever, to creating sound travels faster than light. [laughter] today under this mask of health care reform, washington threatens its greatest infe

committee from the "wall street journal" dated june 5, 2009, quote, the latest self-appointed czar is barney frank. the warehouse which employs 90 people was slated for closure by the end of the year by gm but mr. frank put in a call to gm's c.e.o. and secured a new lease on life for the facility. i respect our chairman. i'm not here to suggest -- mr. garrett: i yield the gentleman an additional one minute. mr. hensarling: i know that the distinguished chairman well wishes this and i'm not here to suggest that the activity was illegal, immoral, was even fatening. i'm here to suggest that is what a political economy is all about. i would suggest anyone else besides the chairman of the financial services committee making that telephone call, that facility wouldn't be open today. under this bill, madam chair, americans' job security will depend less on howell you perform your job at home and more upon who you know in washington. that's what the political economy is all about. this bill represents an assault on the fundamental economic liberties of the american citizen. if you want a home mortga

. >> guest: and i really admire barney frank the chairman of the house financial service committee for his ability to come up with the right one liner at the right time. nobody else in washington has that ability and matters of financial. he had a bunch of economists before him and he said he envied them because they had available to them the counterfactual. if they could see if this hadn't happened then that would have happened and so forth. and he said politicians don't have this luxury. nobody ever got elected with a slogan it could have been worse. it would have been worse without me. and in a sense, ben bernanke's problem is if you hung a banner from the federal reserve today that is what it would say, it could have been worse. >> host: it could have been much worse. >> guest: and that isn't comforting. >> host: well, come to that now. because of to this point they were just fighting fires, fending off the army is in different parts of the battlefield when institutions were going down. not surprisingly they decided we'd better have a coordinated strategy and they came up with this

krimminger, we, barney frank and i signed a letter to the administration because we were very pleased when you took over andy and the way you do flow modifications, and we thought at that time somehow it should be organized ways you should be in charge of loan modification program. can you identify for ross would you have discovered that really works? don't you have some ideas about how we could do this better? i know that -- i hope all the agencies are talking to each other and you have had opportunity for input, but it is not evident. what would you advise? what have you done to make these loan modifications real? what should be done? >> thank you, chairman waters. we appreciate your support on this. we do support the treasury's following that with the hamp program to make sure that it works. certainly there are times and i think this is one of them and treasury agrees for innovations and innovative thinking. we provided recommendations to the treasury and the development of hamp as you know the hamp itself includes a waterfall of options which were modeled on the ones we used in an

. >> guest: i really admire barney frank for his ability to come up with the right one later at the right time. nobody else in washington has that ability in the matters of financial. he had a bunch of economists perform and he said he envied them because they had available to them the counterfactual. they could say if this hadn't happened that wouldn't have happened and so forth. and he said politicians don't have this luxury. nobody ever got elected with a slogan it could have been worse. it would have been worse without me. and in a sense ben bernanke's problem is if you hung a banner from the federal reserve today and it were honest that is what it would say. it could have been worse. >> host: it could have been much worse. >> guest: and that isn't very comforting. >> host: come to that now because up to this point they were just fighting fires, sending of the advancing army in different parts of the battlefield and one institution after another was going down. and not surprisingly and perhaps belatedly they decided we'd better have a coordinated strategy here. and they came up with t

>> let me say to fdic, barney frank and i signed a letter to the administration because we were veryd when you took over indymac. at that time, we thought that it should be organized in a way that you guys should be in charge of. -- in charge of the loan modification program. can you identify for us what you have discovered that really works? do not have some ideas of how we can do this better? i know that -- i hope that all of the agencies are talking to each other and you have had some opportunity for input, but it is not evident. what would you advise? what have you done to make these loan modifications real? what should be done? >> thank you, chairwoman waters. we do support the treasury's following up with the programs. certainly, there are * for crete -- there are times for creative thinking. i think the lesson is that we learn that indymac, which i believe we are working to make them even more so, include things like early on getting a dollar amount of modifications in to the borrowers hands, making sure that, if possible, you were able to get the information to begin the veri

barney frank of massachusetts is the chair. this is about three hours. >> we are a little busy.sations, obviously, on an ongoing basis with tha variety f people. let me ask the -- we have a great frustration that the failure of the combined efforts of the elements of the federal government can make a substantial impact on the foreclosure issue. foreclosure issue. programs have been put forward but no one can think we have done a satisfactory job. part of it this mistakes of the past and one of the things we're determined to do going forward, it is to change so that some of the problems that we have now will not continue. namely, we will not have a continuation where there are mortgages that we believe in the public interest to modify and no one has the authority to modify or if they do, he or she will dodge the responsibility by revoking some share responsibility that cannot be allowed to continue. we will straighten that out going forward. but we're in a current situation and many of us feel the bankruptcy from press their residence is ultimately going to be necessary to have s

. >> my mother has called me barney, but i am looking at the arguments for continuing space exploration. we are getting to the end of the shuttle program and budget is one of the big montrose. what do we see with support for technology and the intellectual science fields? >> money. >> let me start. i believe it is science is the international language of peace. when we join on a scientific endeavors, that is a unifying theme. budgets are tight but i believe exploration is this grant is a venture that is an integral part of us being human that we have to do it. great nations are nations of great explorers. look at the spacecraft around the moon. we have chinese spacecraft and indian spacecraft. these are all international participation, so there is no question that if we don't explore in this country, somebody else will. i like it that we are the leaders. >> almost every mission we do is international. you can harken back to [unintelligible] we were exploring together in space. we can be trailblazers for nations building bridges throughout space exploration with science, and we are doing

barney frank, chairman of the banking committee, made statements about a public option is a necessary step to getting to a canadian-style single-payer government-run program. and then a congresswoman from chicago was on youtube here during the summer. they captured her, she was evidently speaking to a group in her constituency that wanted a canadian-styled single-payer plan right now, and she said to them -- and they were mad about having to go the step of a public option. well, she said, you can't go from here to here, the american people won't move that was to a government-run program, so a public option is a necessary step to get to the government running everything. and so what's socialistic about it and bad because if you ask canadians, you know, they're used to their system of rationing of care and denial of care. for instance, you've got to wait three months for an mri in canada. you don't have to wait that long in the united states, as an example. so do you want that type of health care in america, and i think most americans don't, although there is a group in the senate that

barney's bill?ifth. >> yeah, i mean f he hasn't read it, who the hell in america has red -- read it? >> i do think we're getting back to the business models again. there are going to be a group of people out there who really pant impartial erik good, reported, fact-checked information, and they may have to pay for it, support it in some way. and, you know, that's what we're doing, that's certainly what bloomberg does, you have groups like propubely ca which is trying to do it in a nonprofit way, raise money for people to support investive seniorism. that's the big we that is going to be solved. how do we get them to pay for it, then how do we have a kind of hybrid model that allows some of the benefits of that to also spade out to a broader mix? and that's what we're all wrestling with. >> that's what i do, i work for this indirect kind of -- but as those of you who watch the show, it's more and more underwriting, you know, it's more and more little ads. there's a real encroachment going on at the p

country and out of our schools or we will never have any success in manufacturing, and congressman barney frank now has two bills out there that would legalize drugs. i've heard him speak on the issue. he has no understanding of it. it's the biggest myth, or untrue issue that's ever been perpetrated on the american people. we've challenged him to a debate on two different occasions. he refuses to meet with us, and yet obloquy says he doesn't even know what marijuana looks like. and it's now coming closer probably than it ever has, and i hope that you and everyone on the hill will maybe pull on his air a little bit and tell him he is going down the wrong track. >> guest: i'm not somebody with his amendment. i don't think that sort of thing would be anywhere close to being reasonably entertain on capitol hill at this point that i just don't think -- >> let me just mention the woman talked about manufacturing and i listened to a little bit of the previous segment and your guest was absolutely right. you don't longer than a world economic power and less you've got a first class manufacturing