blanche lincoln had 52% of the vote. there was a lot of sentimental earlier that blends lincoln was going to lose. what happened? how did this turnout for her? >> that is a startling results. the numbers from the democratic establishment said they thought that the bill holzer was going to pull it out. -- bill halter was going to pull it out. many broken her direction in the and. >> was bill clinton and many factory in this? he endorsed and campaigned for blanche lincoln. >> you have to give him some credit. i would not give him all of the credit. you can see the dial move in the polls after his visit. but he is a presence in arkansas today, even though he does not live there. they brought a very powerful message. they cannot afford to give up an incumbent, especially one that is the chairwoman of the agriculture committee. that is a very important position. especially for arkansas, who produces a lot of rice. you do not want to throw it away lightly. >> senator herb blanche lincoln has won in the democratic primary. -- se

but it is a good day for blanche lincoln and for establishment democrats in washington. they defeated bill coulter, who had been back to very heavily and very expensively frankly by organized labor -- bill halter. they spent $10 million trying to defeat blades lincoln, mostly because they were upset with her opposing the card check legislation, in legislative priorities of theirs. essentially she now can run against him. frankly she used their opposition to her very effectively. despite the fact she is a two- term incumbent, she was able to tell voters in arkansas that she was running against washington because she was running against special interests like organized labor. host: for those who say there is an anti-incumbency mood in the country, does hurt when go against that? guest: it goes against it, sure, because she is end up, and who won, but she did win narrowly. make no mistake. only by 2% or 2.5%. it swung pretty closely, just by a few thousand votes. if it were a few thousand votes and the other direction, we would be talking about out the anti-incumbent wave wa

if you want somebody who will fight for you, vote 4 blanche lincoln. >> i am blanche lincoln and i approved this message. >> you're getting all kinds of c-span press here. they are following me. you will want to leave this out. hey, how aer you? >> we have a vote coming up? >> yeah. >> we have about 17 different locations. not going to interrupt these folks. >> we have c-span here. >> andrea. >> we have a vote coming up. i appreciate your support. how is business today? >> good. have a good day. >> hey. how are you? >> good to see you. >> the vote is coming up. >> i'll be there. >> good. i appreciate it. >> thank you or coming down. we have a good bluegrass band here today. >> all right. >> right up there. >> the guy picking the banjo. >> family band. >> when do they kick off? >> 8:00. >> we are moving fast. we have 15 stops today. >> on the road again. >> we will be at cornerstone late tonight. then a party in littlerock. >> we have a guy and a gal doing a documentary on the local farmers and he community. >> have you seen the film? >> they are getting footage now. >> that's terrific. >> i

blanche lincoln start this race clearly as the incumbent. by the time we got to the end of the campaign, she was the one under siege. she was the one being attacked by outside special interest grumz because labor is spending a lot of money. she is the underdog, and i think she did, very effectively, turn the tables as dan said and make herself the outsider. we're seeing that across the board where qhondz a couple of years ago would have been proud of the fact that they were a sitting state legislator or sitting in congress. now, they're saying, well, actually, i'm the real outsidener this case. >> woodruff: blanche lincoln turned it around. a few night ago all of us were thinking she was going to lose. >> i think there were a lot of people who thought she was going to lose. i think a couple of things happened. i think labor got too high a profile in the race and allowed blanche lincoln, as amy said, to become the sort of the person fighting the establishment rather than being part of the establishment. there's no question that former preside

through the internet and mostly labor unions pouring millions of dollars in attack ads against blanche lincolnhave been a big part of this. >> woodruff: dan balz, how much of an issue is this insider, outsider thing. what does it is a if blanche hundred con loses here? >> i think the most important thing it is as is that labor has really flexed its muscles in arkansas. certainly there is an anti-incumbent issue involved in this. and an insider-outsider. but as amy said it is the outside influence of the labor unions in particular in some progressive groups. i mean labor has put close to $9 million into this state, into this race s away way to send a message. and when bill clinton, former president, went down to campaign for blanche lincoln he said that the labor unions are trying to make an example of her. which is exactly what they are trying to do. they are trying to show that those democrats who don't advance the issues that they want and in their estimation aren't working for average working families, ought to pay a price. and they're trying to make an example of blanche lincoln in this ca

the did not have the brawling that blanche lincoln and bill halter has had. he is an experienced politician, a conservative record -- record. and if this turns out in november to be a strong republican year nationally, it will be it harder either for blanche lincoln or bill halter as the upset primary winner to hold the seat. not impossible. arkansas traditionally is a southern state that has swung least strongly to the republican party during the transitional period, from the 1960's on. host: we need to get to california. a couple of important races there. on the senate side, the gop side, three republicans are vying to try to unseat senator boxer. who are these three republicans and what have they brought to the race? guest: karlene dear reenah -- carly fiorina is still today but highest ranking woman in the business world. i should say, she held the highest position in the business world as the chief executive officer of hewlett-packard computer company. when she entered the race, it looked like it would be a two- person race between her and devore, very c

i also want to go back to governor -- also blanche lincoln in arkansas. if the unions -- i don't necessarily agree with them going after her the way they did, but just like the lady said earlier, $10 million is not that much in that kind of campaign the lady -- that kind of campaign. the lady meg whitman and california spent $60 million of her own million. host: i think i saw a figure of 75 million, to $80 million produce still there? caller: just think about that. this is just one person who is able to spend more money than labor was able to put a begins blades lincoln. she spent $75 million of our own money and this is someone who worked for a big corporation. i just want to remind people that the supreme court just made this ruling that corporations -- you take the chamber of commerce and they can bring all the corporations together and bring as much money into these races as they can. the unions will go extinct and people will sit around and wonder why they are only making $10 an hour and they have no representation. one of your callers made a comment

. >> this is a quick yes-no questton on blanche lincoln's does that strengthen her position on the derivatives peace in the legislation? >> people have seen this both ways. they think her win gives her a -plouder voice and a stronger perch from which to abdicate her position. some people say that now that she has won and russia cannot coast to reelection, it perhaps gives the voice of opposition a greater hand. >> i will let dennis brady have the last word. >> i think they exppcted that particullr provision to disappear all along.

that is how badly labor unions want to defeat senator blanche lincoln.ven though arkansas's labor force is one of the least unionized, labor has thrown its support behind mrs. lincoln's primary challenger, bill halter. the unions have made the race the centerpiece of the new effort to hold union-backed candidates accountable for their vote after they are elecced. the push is fueled by a frustration that goes back years and is a peak in the health care debate. -- and has peaked in the health care debate. looking at other races across the country, we have a full list of the race is happening tuesday -- iowa, maine, house and governor, california, senate and governor, montana has a house race, new jersey has a house race as does virginia, south carolina has senate and governor and south dakota has senate and governor along with house races and all of those states. the questions continue about how influential are are the politicians when it comes to your vote? do they motivate you to get out and have a voice in the primaries? former governor sarah palin has

that is what blanche lincoln does. she turns the outsider thing on her opponent. that he's being backed by these outsiders. she's the incumbent. she's the washington candidate, chairman of the agriculture committee and she managed to make herself sort of the outsider taking on these alienations. >> so did bill clinton by calling them the national union. >> lehrer: do you agree, the labor could have stayed out of this or should have stayed out of it? >> i think they want add tension. i think they didn't feel they were getting the attention from the democrats. they didn't feel they were getting the attention from the white house. you don't do it unless you're going to win. i mean i don't think you're going to spend that kind of money and time, effort and energy and put that kind of spotlight unless you deliver, you come back with it. >> okay. thank you both very much . >> woodruff: again, the major developments of the day. there were warnings of much greater environmental damage in the gulf of mexico oil spill. that's after scientists issued sharply higher estimates

one is a provision by senator blanche lincoln, which could move the swaps desk outside of the business. what are your thoughts on that? >> they would have to move them to an exchange, and the exchange are operateded by the four largest corporations in america, financial firms. they basically control that business. so you would move them into what is almost a monopoly right now before you could have a company -- say john deere.. they could executt another agreement with a private party. i don't see any problem with them doing that. john deere, caterpillar, ford, i.b.m., you name it, every large company, they hedged on their exposure. the airlines hedge it on aviation fuel. a lot of your international companies that do business overseas, they have currency hedges. i don't see why you have to have a gatekeeper at one of the four largest financial firms. that is what we have done in this bill. we fixed things that weren't a problem. we have had company after company after company that has come to us -- and this is a lot of the lobbying. but they have cooe to us and said this is going to co

blanche lincoln received 52% of the vote and won. guest: yes, the white house pointless expenditure by organized labor. i wonder what we would say about $1 billion in afghanistan, more than pointless and terribly destructive. it seemed to be a message from the white house to organized labor, just let us run the show after 16 months, the results are clear. it was supposed to be a priority of this and ministers in. >> this administration. i commend a group called bold progressives, and other such groups -- those that worked very hard to put up a fight against a blue dog corporate democrat named blanche lincoln in arkansas.. the advice coming from the white house foo progressives including organized labor too just say ok, tell us what to do, that does not comport with history if you look back fdr from the 1930's, john kennedy and others froo the 1960's. all the great movements came as a result of the base mobilizing. to the extent, the press has made a mistake of deferringgto the white house for the last 16 months. we have de-mobilized

we're going to take out blanche lincoln in arkansas. i'm excited because it is an unprecedented alliance between the net roots, labour, and we finally have realized we have quite a bit of power to rally small dollar donors, activists, people who have resources and expertise to run campaigns and get-out-the-vote operations and realize that we have to hold people i washington d.c. accountable. as a matter for right on the issue. doesn't matter if we are right on public opinion. in washington d.c., they are immune to reason, they are immune to public opinion. look at the comprehensive immigration reform. it polls that 80%. 75% among republicans. and they are too afraid to touch it. the public option had at the support of 65% of the american people. they were afraid to touch it. we have to realize they are immune to certain things. they are not immune to losing elections. that is where we actually make them hurt. [applause] moving forward as a practical policy, weave to foc on the electoral component. everhing else we're doing is fantastic,

we're going to take out blanche lincoln in arkansas. i'm excited because it is an unprecedented alliance between the net roots, labour, and we finally have realized we have quite a bit of power to rally small dollar donors, activists, people who have resources and expertise to run campaigns and get-out-the-vote operations and realize that we have to hold people in washington d.c. accountable. as a matter for right on the issue. doesn't matter if we are right on public opinion. in washington d.c., they are immune to reason, they are immune to public opinion. look at the comprehensive immigration reform. it polls that 80%. 75% among republicans. and they are too afraid to touch it. the public option had at the support of 65% of the american people. they were afraid to touch it. we have to realize they are immune to certain things. they are not immune to losing elections. that is where we actually make them hurt. [applause] moving forward as a practical policy, we have to focus on the electoral component. everything else we're doing is fan

incumbent blanche lincoln won renomination yesterday. here is her speech last night in little rock, arkansas. >> [cheers and applause] >> you are a great, arkansas. [applause] i cannot begin to thank each and every one of you across this great state for such a Ájob in letting a message out that is loud and clear. [applause] and that message was that the bulk of this senator is not for its sale and neither is [unintelligible] [applause] we have worked so hard, all of you all, all of these wonderful folks here, everybody across this state in reminding one another what this is all about. this is about us. this is about who we are in arkansas. [applause] deal any stronger than i kill today as a daughter of the delta and arkansas to know that your message is loud and clear, that washington needs to work for us , for us in arkansas. [applause] i can tell you here and now, folks, arkansas and this senator will be a part of the solution and put this country back on track. [applause] i have stood up to the special interests and i have done it for

blanche lincoln is fighting for her political career, if she loses, she is done.anche lincoln is a classic southern democratic centrist, which means she is a bit more moderate, conservative on some issues than the democratic mainstream. although there are some democratic activist, labor unions who really lobbied against her, who don't like that. in another election year, middle-of-the-road incumbents like blanche lincoln sometimes are regarded as a thoughtful and the liberty. but for party activists they say, no, we want these members of congress to vote theay we want them to vote and when we don't, sometimes we face party rebellion. this has been a particularly difficult primary season for incumbents already. utah's senator bob and judy utah senator bob bennett, pennsylvania senator arlen specter going down to defeat. this will be an interesting test to see whether the party unity and ideological purity becomes an overriding issue for incumbents. host: neck and neck in arkansas. any late polls? guest: all the polls show it is very close. if you show the tenant go

events yesterday after a look of some of the latest campaign television and five bill halter and blanche lincoln. -- 5 bill calder and land lincoln. >> we have tried to tell them washington is still out of touch with our lives. the bailout have to stop f reuter from credit cards to ceo pay, someone made to stand up do -- have to stop. from credit cards to ceo pay, someone has to stand up. >> the only way to change washington is to change who we send their. >> the only choice for change. >> here is an article from "the washington post." if says they made a decision they wanted to make senator blanche lincoln the poster child for what happens when a democrat crosses them. this is about using new and manipulating your votes. if you want to beat arkansas's advocate, a vote for somebody who will fight for you. vote for blanche lincoln. ou're getting all kinds of c-span press here. they are following me. you will want to leave this out. hey, how aer you? >> we have a vote coming up? >> yeah. >> we have about 17 different locations. not going to interrupt these folks. >> we have c-span here. >> andrea.

we're going ttake out blanche lincoln in arkansas.'m excited because it is an unprecedented allice between the net roots, labour, and we finally have realized we have quite a bit of power to rally small dollar donors, activists, people who have resources and expertise to run campaigns and get-out-the-vote operations and realize that we have to hold people in washington d.c. accountable. as a matter for rig on the issue. doesn't matter ife a right on public opinion. in washington d.c., they are immune to reason, theare immune to public opinion. lo athe comprehsive immigratioreform. it polls that 80%. 75% among republicans. and they are too afraid to touch it. the blic option had at the suppor o 65% of the american ople. they were afraid to touch it. we have to realize they are immune to rtain things. they are not immune to losing elections. that is where we actually make them hurt. [applause] ving forward as a practical policy, we have to focus onhe electoral component. everything else w're doing is fantastic, but that's important it t

.- blanche lincoln. it had been opposed by the administration.ome lawmakers in both parties, multiple banking regulators and wall street, but appears to be gaining support. your reaction? guest: derivatives swaps are very complicated. i never worked on wall street. i never worked on the house financial services or banking committee. i never dealt with these issues, but neither have the large majority of congressional members who will be voting on this, nor the president. i have followed it closely and the past two years. not all swaps are bad. not all hedging is bad. here you have a political situation meeting of policy situation. the well so poisoned for swaps and derivatives now simply because the credit default swaps were such a driving force behind a lot of the bad subprime mortgages which back the those financial products. here you have it spinning off basically meaning, senator blanche lincoln of arkansas pushing for it, taking a company like j.p. morgan in cutting off their swap desk and making them recapitalize somewhere else. that will c

what is blanche lincoln going to do? what is ben nelson going to do? what is senator levin -- senator lugar going to do? what is -- what the people in the middle to is where it will be made or broken. >> that her mind the -- that reminds me of something said earlier. it used to be regional, and now it is partisan. when you talk about individual votes, you have to think about corn in the midwest, royalties and the gulf coast, -- royalties in the gulf coast, and other sorts of energy projects, including home state jobs. that is how you win over votes. that is how they broke through last night on financial reform. digital will carve out four massachusetts banks -- they did a little cart veout for massachusetts' banks. they need to buy off a few. what are some of these home state issues we could see emerge? >> david, you're familiar with this. how do you get lugar, collins, a gulf state senator? >> again, i think, the larger issues are still in footfall. while it is true that the middle will be the ones that decide, if there is also a question of what the

host: in the blanche lincoln debate, and you think came out on top of that? when shalik and one that, but who you think -- blanche lincoln won the debate, but who do you think was affected by that? guest: i would thinn that other democratic senators will -- who are from some states were f labor is a little bit stronger might have gotten the message of labour could come into their i think they showed a little muscle, depending on which senator they take a look at next. host: this is debora from hersman, tennessee. caller: i have the greatest concern for womennof this country and i pray for women, and men as well. i wonder why things are not being done. this country was built on trust and love of god. we need to follow through and being more responsible for what we can do for others. we need to talk more about what we are doing and what can we do best. i see people struggling with regard to day care vouchers. they do not have the money to pay for child care. and then there are educational successes and a good job searches. i am wondering what avenues we have fo

the did not have the brawling that blanche lincoln and bill halter has had. he is an experienced politician, a conservative record -- record. and if this turns out in november to be a strong republican year nationally, it will be it harder either for blanche lincoln or bill halter as the upset primary winneto hold the seat. not impossible. arkansas traditionally is a southern state that has swung least strongly to the republican party during the transitional period, from the 1960's on. host: we need to get to california. a couple of important races there. on the senate side, the gop side, three republicans are vying to try to unseat senator boxer. who are these three republicans and what have they brought to the ra? guest: karlene dear reenah -- carly fiorina is still today but highest ranking woman in the business world. i should say, she held the highest position in the business world as the chief executive officer of hewlett-packard computer company. when she entered the race, it looked like it would be a t- person race between her and devore, very conserv

blanche lincoln survivvd, but arlen specter lost. there is a sense of unease, and that i'd better not take this primary candidate slightly. host: does it seem like it is shaking up republicans more??% guest: i think both the left and right feel emboldenee right now. anyone in the middle is very nervous, especially around primary time. come november if republicans can survive the primary challenggs have over the next few months, they will likely be .afe some people say that it will hit both parties in noveeber. historical trends how usually angryhe electorate is partyill vote against the in power. they did against the republicans in both 2006 and 2008. host: today's top story -- dems %-ll not pass budget. hoyer says house will spend less than limits set by obama. he will confirm it in a speech on tuesday. he will back to rack down on government spending, saying that democrats will enforce spending whats that are lower than the preeident called for. is the situation when it comes to getting things done and limiting pending? guest: of t

blanche lincoln survived, but senator arlen specter lost. there is a sense of unease, and that i'd better not take this primary candidate slightly. host: does it seem like it is shaking up republicans more? guest: i think both the left and right feel emboldened right now. anyone in the middle is very nervous, especially around primary time. come november if republicans can survive the primary challenges they have over the next few months, they will likely be safe. some people say that it will hit both parties in november. historical trends show usually when the electorate is angry they will vote against the party in power. they did against the republicans in both 2006 and 2008. host: today's top story -- dems will not pass budget. hoyer says house will spend less than limits set by obama. he will confirm it in a speech on tuesday. he will back to crack down on government spending, saying that democrats will enforce spending limits that are lower than what the preeident called for. what is the situation when it comes to getting things done an

blanche lincoln received 52% of the vote and won. guest: yys, the white house official said it was a pointless expenditure by organized labor. i wonder what we would say about $1 billion in afghanistan, more than pointless and terribly destructive. it seemed to be a message from the white house to organized labor, just let us run the show from pennsylvania avenue. after 16 months, the results are clear. it was supposed to be a priority of this and ministers in. i commend a group called bold progressives, and other such groups -- those that worked very hard to put up a fight against a blue dog corporate democrat named blanche lincoln in arkansas. the advice coming from the white house for progressives including organized labor to just say ok, tell us what to do, that does not comport with history if you look back fdr from the 1930's, john kennedy and others from the 1960's. all the great moveeents came as a result of the base mobilizing. to the extent, the press has made a mistake of deferring to the white house for the last 16 months

but the real drama, i think, will be around derivatives regulation portion and blanche lincoln and the work she did being thrown out the window. host: we get a daily and weekly rundown of what is ahead in the u.s. house, for the majority leader and the wit. nowhere in there is there a mention of a bill that deals with fiscal year 2011 budget resolution or any sort of budget appropriations bill. when my house and senate gets started on a budget for 2011? guest: next year, maybe? host: resolution before the election? guest: i don't think so. the house at least will have a lot of trouble putting together a budget resolution. democrats are split. blue dog democrats, fiscally conservative democrats from a lot of republican-leaning states and house districts who want a lot more budget savings, spending reductions, fiscal measures, then the liberal democrats who are a majority of house democrats are not enough to pass something. republicans are not -- it cannot count their votes as be available. host: are they better off going back to contestants saying we did not pass this huge -- or saying

negotiate with the author of the derivatives language, senate agriculture committee chairwoman blanche lincoln of arkansas, hit an impasse yesterday. at a leadership meeting, top democrats told her the language was causing problems in the house but senator lincoln told "politico" last night she has no plan to budge. those are some of the latest headline on c-span radio. >> let me say to the american people, this is a change in personnel but it is not a change in policy. general petraeus fully participated in our review last fall, and he both supported and helped design the strategy that we have in place. >> learn more about the president's choice to head u.s. forces in afghanistan, general david petreaus has been on c- span more than 40 times. watches appearances at hearings, briefings, and other events online anytime that the c-span video library. it is washington your way. >> this weekend on c-span2's "book tv," alex heard recalls the death penalty trial of willie mcgee and the beginnings of the civil rights movement. ords" -- war "captives'." and reporter about the inside account of rupert

tomorrow in arkansas, we will seek a primary challenge to blanche lincoln.tever happens [applause] this is a challenge that progressives have launched. what ever happened is a clear message has already been sent and received. we must expand the capacity to hold legislators accountable and to recruit and support progress of champions. history does not repeat itself, mark twain once wrote, but sometimes it rhymes. one lesson can be drawn from history and that is the progressive movement must organize independently of democrats in the administration to affect change. [applause] martin luther king supported this. president johnson went to him in 1964 and told him to shut down the civil rights demonstrations. with an independent movement, more low-tech king could no longer do that if he had wanted to. instead, he went to cellmark and the confrontation in selma electrified the nation and six months later, the voting rights act was passed into under president obama, wall street reform today is stronger than the bank's expected because demonstrators showed up. the p

senator blanche lincoln has a proposal for derivatives. she prate -- she faces a democratic runoff tomorrow. another question they have to consider is dealing with credit and debit cards. >> on the democratic health care plan from political this afternoon, -- from politico this afternoon. tomorrow, president obama will hold a national town hall meeting on health care with senior citizens in maryland. it has been 47 days since the deepwater horizon explosion. >> the completed a meeting with the cabinet. they are in charge of dealing with the deepwater horizon oil spill. we activated 15 agencies for what is now the largest national response ever. what we want to do is make sure every agency is coordinated with clarity about how we will proceed in the coming months. now, we have gotten reports that have been confirmed by our scientists at the top hat mechanism is beginning to capture some of the oil. we are still trying to get a better determination as to how much it is capturing. we are pushing a bp very hard to make sure all of the faciliti

yalman onaran from bloomberg, another contentious issue was the issue of derivatives and senator blanche lincoln of arkansas had a big role. what happened? guest: senator lincoln, who faces reelection this year, at the last minute really -- this bill has been going on for about two years now starting at the house and the senate. she proposed that the derivatives operations of the big banks would be completely walled off -- it would be in the units that would not have anything to do with it, because it insured banking institutions. -- deposit insured banking and petitions. it would mean banks would have to set up separate companies that would capitalize separately, which would increase their costs and lower their profit. the last-minute compromise -- and there was some much pushed back by banks -- and the administration was not so excited about it, either, so they kind of or siding with the banks a little bit on this. and the final compromise is still some of the derivatives activities will be put into a separate entity that the banks have to capitalize independently, but it is not everything. it

guest: the other outstanding issue is the extremely controversial provision from senatoo blanche lincoln to restrict trading of derivatives. host: that made the front page of "the wall street journal" this morning. this is the front page of "the wall street journal." basically, she wants to -- what is she trying to do, mr. br ush? guest: that is related to a separate provision in the bill, but something she is pushing for a bank in her state. host: on the volcker rule, in ""he washington post" there's a story that senator brown is trying to change some language for a bank in his state, as well. guest: in may, he raised concerns about the volcker rule and its potential to impact banks and other insurance companies in his state -- in his home state of massachusetts. he raised concerns about that, as well as the hedge funds. his concerns were not entirelyy addressed in the senate's. he received letters from chairman barney frank in the house saying that his ccncerns would be taken up when the house and senate met in ttis conference process. we will see, maybe by as early as the end of today

now, you have said that there is one, thuff letter from chairman dodd and blanch lincoln saying there is one. that's half of it. you'd vote for that because you're saying it's in there. secondly, there's the federal audit. and we need, the taxpayers and voters are demanding, and mr. hoyer, transparency at the fed. they're spending trillions of dollars, committing trillions of dollars let's have this audit of the fed. the speaker pro tempore: the gentleman from massachusetts. mr. frank: i yield myself as much time as i may consume. the speaker pro tempore: the gentleman has 7 3/4 minutes. mr. frank: mr. speaker, to begin, i want to address the members who are concerned that the interchange amendments will unduly affect smaller financial institutions. the interchange amendment wasn't part of the bill here. it was put in by a heavy vote in the senate and the conference process means a compromise there is in that amendment, as senator durbin put it in, an exemption for any fee set big the federal reserve for small institutions. they, then, feared they would be discriminated against so we

on blanche lincoln's win, does it strengthen the stand on tte derivatives? >> some people say her win gives her a louder voice as a committee and sort of a a stroncher perch to add video kite for her position. some people say now that she has won, while she can't coast to re-election here, it perhaps gives the voice of on situation a greater hand to alter the provision or entirely remove. >> i will let parade brady have the last worth? >> people have expected that provision to disappear all along, ann they have been wrong every time. i don't want to be a handicapper either. i will write aaout it when it happens. >> brady dennisscovers financial things for the "washington post." and silla brush does the same for "the hill." thank you for joining us. [captions copyright national cable satellite corp. 2010] nattonal captioning institute] >> with the confirmation hearing for elena kagan coming up. c-span takes you inside the supreme court to see the places and spaces. hear from the justices as they provide insight about the building andist hits. the supreme cour

yalman onaran from bloomberg, another contentious issue was the issue of derivatives and senator blanche lincolnrkansas had a big role. what happened? guest: senator lincoln, who faces reelection this year, at the last minute really -- this bill has been going on for about two years now starting at the house and the senate. she proposed that the derivatives operations of the big banks would be completely walled off -- it would be in the units that would not have anything to do with it, because it insured banking institutions. -- deposit insured banking and petitions. it would mean banks would have to set up separate companies that would capitalize separately, which would increase their costs and lower their profit. the last-minute compromise -- and there was some much pushed back by banks -- and the administration was not so excited about it, either, so they kind of or siding with the banks a little bit on this. and the final compromise is still some of the derivatives activities will be put into a separate entity that the banks have to capitalize independently, but it is not everything. it is o

tomorrow in arkansas, we will see a primary challenge to blanche lincoln.ever happens -- [applause] this is a challenge that progressives have launched. a clear message has already been sent and received. we must expand this capacity told legislators accountable and recruit progress of champions. history does not repeat itself, mark twain wrote, but sometimes it rhymes. there is one lesson that can be drawn from history. progressive movement must organize independent way of democratic administrations to effect change. -- independently of democratic administrations to affect change. martin luther king supported lyndon johnson. but johnson went to king in 1964 and told him to shut down the demonstrations. they were making it impossible for him to forge a majority in the senate. with an independent movement, martin luther king could nor do that even if he wanted to. instead, he went to selma. and it electrified the nation and six months later, the voting rights act was passed into law. so, too, under president obama wall street reform today is stronger than th

. -- and blanche lincoln worked tirelessly on this as well. >> thank you, mr. chairman. i apologize for the other members jumping in on the middle of this, but it turns out asked me to come back over and share some thoughts on title 1 and 2. i think we spent literally hundreds of hours trying to fashion appropriate titles for systemic risk resolution, ending too big to fail. while both of us feel that the original project that amended in the process, i'm still quite proud of the work. the most bipartisan part of the senate bill are title 1 and 2, which was later amended by the dog-shelby amendment, which got the votes. -- by the dodd-shall the amendment. one of the import distinctions i think between house and senate bill is on the role offthe systemic risk council and the role of the members including the federal reserve. i think we have to recognize that each of the members of the council bring particular expertise to the table. the house approach, which allows the federal reserve to set the newer standards around systemic risk, slightly different approach. basically l

yalman onaran from bloomberg, another contentious issue was the issue of derivatives and senator blanche lincoln of arkansas had a big role. what happened? guest: senator lincoln, who faces reelection this year, at the last minute really -- this bill has been going on for about two years now starting at the house and the senate. she proposed that the derivatives operations of the big banks would be completely walled off -- it would be in the units that would not have anything to do with it, because it insured banking institutions. -- deposit insured banking and petitions. it would mean banks would have to set up separate companies that would capitalize separately, which would increase their costs and lower their profit. the last-minute compromise -- and there was some much pushed back by banks -- and the administration was not so excited about it, either, so they kind of or siding with the banks a little bit on this. and the final compromise is still some of the derivatives activities will be put into a separate entity that the banks have to capitalize independently, but it is not everything. it

senator blanche lincoln. >> thank you. i want to thank chairman bob, as well and all of our colleagues in the senate and house. i cannot overstate the significance of what we are here to do today. financial market reform is the single most important factor in our long-term economic recovery and it will be the foundation of our nation's financial future. i am glad we are beginning with a base tax that is well over 99% of what we had in our senate bill. only small technical corrections that are there and we are excited to begin with that product. everybody recognizes the importance of the task at hand. nobody more so than the hard- working families of each of our states and districts as well as3 street and the important role that this place on their behalf. in 2008, the economy was on the brink of collapse. the greed and excess on wall street spiraled out of control and small businessss were left to pay the price. america was held captive by financial systems that were so irresponsible that its failure almost destroyed our e

she should never be confirmed and anybody who votes for her especially blanche lincoln if she were to vote, she will go down anyway, but it will assure me not voting for her. host: coming up, we sat down with senator patrick leahy who is the lead on the committee. i want to show you a little bit about what he said on that criticism. about her stance on the military. let's take a look. >> jeff sessions has doubts about elena kagan's position about days. she said she was being hypocritical by criticizing gays but not accepting members from the royal family for an islamic center. what do you make of that? >> it was not a law school that accepted money from the saudis. if i was on the board of harvard i am not sure i would be that eager to except saudi money. i am interested in having studies of islamic life. that is a good discussion to happen this country. i think that is a bit of a stretch for her. there were questions about recruiting. everyone has talked about that. in my mind, that is the tempest in teapot. the military were able to recruit on the harvard campus all the time. this i

the amendment offered by senator blanche lincoln in the other body, would prohibit banks from engaging in swaps. if the amendment had not been weakened it could have resulted in banks having to spin off from their swapped businesses, but it seems like it's business as usual in washington. the amendment was weakened and too many exceptions exist. goldman sachs, morgan stanley, bank of america, wells fargo, citigroup, use derivatives that hedge the risk they are undertaking as well as still being able to trade interest rate and foreign exchange swaps. for other types of nonstandard instruments like some credit default swaps, the banks have two years to move that business to a subsidiary which is capitalized separately, and some people say there is even language in the bill that will allow them up to 15 years to try to meet some sort of standard. well, you can't really call that reform. bloomberg businessweek reported last friday that u.s. commercial banks held derivatives -- get this -- with the notional value of $216.5 trillion in the first quarter of which 92% were interest rate or for

a piece about blanche lincoln -- calling this a risk for obama to mend. -- rift for obama to men. next is williamsburg, ohio. this is our roof on our democrat's line. caller: good morning. thank you for c-span. the reason why i'm calling is, i believe women have a place in government. i disagree totally with the previous caller. but i think it is not as much gender-based for me. i think it is their political views. and i think we have had enough -- i am not real positive about the two women -- if you have enough money, you can buy your way into a campaign. i think we need to get back to the basics. i think that is what america is calling for. host: the "usa today" editorial page looks at the election and they have two items. this one is abouu proposition 14. and it picked up the well candidate field with the second editorial. this year's politics can be called by many things -- year of the anti-establishment, year of the woman, but one thing for certain, the year of this self funded very rich candidate. athens, georgia. christine. caller: hi. i definitely think gender has a bearin

to limit his market than the house bill is brita the author asks that the senate language is blanche lincolnho won reelection are a bit this week. she won it earlier this week. she will be looking to keep that derivative proposal tough in the senate bill. >> and a tough version -- house version is not as tough? >> yes. it would require banks to get rid of most of their derivatives. you have to move it into a separately capitalized entity. the idea being the you get these derivatives that carries certain risks away from the banks that have the insured deposits that you and i keep. >> what is the financial industry? what led thehave they been saying? do they want to keep in? >> it has been pretty intense on many parts of it. they are concerned with an amendment that richard durbin successfully attached to the senate bill. it would require the federal reserve to cap the fees that banks charge retailers when you use your credit card at the cash register. that has been of a titular interests. i did of particular interest. -- that has been of particular interest. it would require companies to hold

i want to publicly thank blanche lincoln and saxby chambliss and others and staffs who have worked veryvery hard along with the banking committee staffs. there may be other issues we have to work our way through, but a tremendous amount of effort has been made it put us in a suspicion where we know we've also received 200 suggestions from the house on the derivatives section, they've worked all night through that as well. a lot of work has been done. we hope again to get through that and the vocal ruled and other matters. i know there's work being don all night as well on the sections dealing with the fiduciary rule. i want to thank senator johnson and his staff, your staff, mr. chairman and others who worked on that as well as on the proxy access. a l of work has been done as well. so i know they're fairly close to making offers on those matters which we would like to consider as well when they're ready to present them to us. >> i reccize the ranking member of the committee on agriculture. >> if i could inquire about the recess. is this subject to the call of the chair? my understandin

senator blanche lincoln. >> thank you. i want to thank cirman bob, as well and all of our cleagues in the senate and house. i cannot overstate the significance of what we areere to do today. fincial market reform is the single most important factor in our long-term economic recovery and it will be the foundation of our nation's financial future. i am glad we are binning with a base tax that is well over 99% of what we had in our senate bill. only small technical corrections that are there and we are excited to begin with that product. everybody recognizes the importance of the task at hand. nobody more so than the hard- working families of each of our states and districts as well as3 street and the important role that this place on their behalf. in 2008, the economy was on the brink of collapse. the greed and excess on wall streetpiraled out of control and small businessss were left to payhe price. amera was held captive by financial systems at were so irresponsible that its faire almost destroyed our economy our y of life

senator blanche lincoln had a big role. what happened? guest: senator lincoln, who year, atlection this really -- this on for about going two years now starting at the house and the senate. she proposed that the derivatives operations of the banks would be completely off -- it would be in the not havet would it, becausedo with it insured banking institutions. -- deposit insured banking and petitions. would mean banks wouldave separate companies that would capitalize increasey, which would their costs and lower their profit. the last-minute compromise -- much pusheds some and thebanks -- not sotration was about it, either, so of or siding with the on this. ttle bit final compromise is the derivatives activities will be put into a entity that the banks capitalize but it is not everything. only the riskiest of the derivatives. credit default swaps, and the like. and especially credit defaults what not traded in exchaes. the derivaves build that is hopefully -- it is not at all finalize -- is to force a lot of be traded ono cleared through cle

tomorrow in arkansas we'll see a primary challenge to blanch lincoln.tever happens -- whatever happens. this is a challenge that progressives like you and i and others have launched. and the messages have been sent and received. woe must expand this capacity to hold legislators accountable and to recruit and support progressive champions. history doesn't repeat itself mark twain once wrote but sometimes it rhymes. and flstg -- there's one lesson that can be drawn from history. that's progressive movements must organize independently of democratic administrations to effect change. [applause] martin luther king jr. supported johnson and worked closely with him on civil rights legislation. but johnson went to king in 1965 and told him to shut the administrations -- demonstrations. king could no more do that even if he wanted to. he went to selma and the confrontation electrified the nation and six months later the voting rights act was passed into law. . . obama, w l than the bank's expected because demonstrators showed up. the public was to big banks, inv

. >> senator blanche lincoln addressed reporters after narrowly defeated lt.governor bill halter on tuesday. >> i cannot begin to thank eacc and everyone of you for doing such rich renders job. the message was that the vote of this center is not for sale, and neither is the vote of the people of arkansas. [applause] we have worked so hard, all of you, all of these wonderful this state, in reminding one%- another what this is all about. this is about us. this is about who we are as arkansans, and what we want to and i have heard your message, and let me tell you, i cannot feel any stronger than i feel today as the daughter of the delta and arkansas, to know that your essage is loud and clear, that washington needs to work for us in arkansas. [applause] the solutions to put arkansas and this country back on traak. [applause] i stood up to the special interests, and i have done it for you. we have made our mark, and we have shown the rest of this country that we, each of us, as arkansans and americans, have a say, from that privilege and honor of casting your vot