the meaning comes from has a theme of a camp david kind of place for the spirit of camp david one by one the soviet premieres at the time was about a place you come together with trust, within nature, no press unless you want them there, the ability to sit down as people, break bread, share a story, get to know each other. to me that the true meaning of camp david a place of the presidents to get away and relax the best they can. a place to entertain family and world leaders probably one of the most unique places in the world to do that. growth and reasonable distance of the white house. >> michael had some really great questions from our live audience. nancy from facebook asked i know president reagan and nancy reagan rode horses while they were at camp david. is there a stable there? what other activities are available besides swimming? >> the only time we had a stable there, a corral's during the kennedy years the pony macaroni was kept there for the children, the kennedys. otherwise horseback, had one incident where president clinton and chelsea wanted to go horseback riding. so t

the reopening. that is a big part of it. davidme people are worried about the federal debt limit and that we might not be able to extend it on time. we have over $31.4 trillion of debt. are you a little worried about the debt limit not getting extended? chair powell: the debt limit is really something for the fiscal authorities to deal with. the fed, our only role in this is that we are the fiscal agent of the treasury department. we are not a policymaker on that. i will just say this. this really can only end one way, and that is with congress raising the debt ceiling in a timely fashion, so that the u.s. can pay all of its bills when and as due. that is what has to happen. if it does not happen, nobody should think the fed has the ability to shield the financial markets or the economy from the consequences of moving too slow. david: so you don't have a program in place ready to go if, in fact, the debt limit is not passed in time? chair powell: this is something that congress has to deal with. david: and the so-called $1 trillio

[applause] it is the envy of the world. david: ok. despite it being the best, we have some problems from time to time. jane: yeah, but they are isolated problems. when you look at it, the financial system, it's competitive. we have large banks well-capitalized. and a source of strength at the moment. we have medium-sized banks, regional banks, and by and large, they are equally well capitalized, serving their communities, playing an important part in the banking system. this is quite isolated. david: ok, but people are still interested in hearing about it. [laughter] so. [laughter] so, your bank is well-capitalized. i should've said, your bank is a bank with 230,000 employees. jane: yep. david: and a -- market capitalization. so, your bank is in good shape. your bank is the fourth biggest bank in the u.s. jp morgan, bank of american, wells fargo in the citi. there is a bank in the west coast called silicon valley bank. [laughter] not as well-capitalized. did the regulators not understand what was going on? were people in the banking wo

the store. i can hear them chattering. daviden you walk into a store though, and if you don't like something, you call the manager and say, this isn't good? or you just sort of tell them when you get back to the office? rosalind: so really what i do is i take a picture of it, and i send it back to my team at the office and say, "i wonder why this is happening, right?" because usually it's a decision we've made that is causing something to happen. nine times out of 10 it is something we have done versus what the store has done. david: if you need a prescription, do you have to wait in line? rosalind: i do. i have to wait in line. david: you wait in line? rosalind: i do. david: you ever say, "i'm the ceo of this company, i'm waiting in line?" [laughter] rosalind: no, absolutely not, no. but usually there's not too much of a line. and i know the best hours to show up, too. david: you have obviously had an incredible career. did your parents live to see your success? rosalind: you know, it's interesting. if i could describe my dad,

the ceo? mike: five years ago. davidsome people might say god looks favorably among the ceos of energy companies because they live a long time and a number of your predecessors live a long time and some live in the same area as you live. do they call you with advice? mike: i'm really fortunate. the three people who have done my job immediately preceding me beach for roughly a decade, the 1990's, the 2000s in the 20 teens live within a few miles of where i live. i see them regularly, we have lunch together. david: don't they tell you you are doing this or that wrong? that doesn't come up? mike: i give a lot of good advice. these are people who have actually done my job. i'm interested in their advice, they've live through wars. the fall of the soviet union, terrorist attacks, financial crises, they've seen oil markets go through gyrations. they've dealt with geopolitical surprises. their advice is valuable. during covid the first thing i did was call each one of them and say, what lessons did you learn during the crises y

that's the path we are on. davidhe bank's stock under your predecessors, and to some extent under you, has not moved in 10 years. is that a concern? jane: we are transforming the bank to make sure we are in a different position. we're changing the strategy of the bank, as we talked about. and that entails, selling 65,000 employees. it is 25% of our employee base, so we can focus and double down on the businesses that make sense. david: of the 230,000 you have, you're selling 65,000? jane: yes. david: wow. jane: it is a lot. the belief is, where we truly excel, we will move every single day $4 trillion of volume for 5000 multinational firms. there is no other bank that can -- in the world that can do that. that's an incredible asset for america. it is a strategic asset for the states, because you would much rather have american companies operating on american banking rails and not foreign banking rails, particularly these days. so that is what we are focusing the bank around, it is that client base. and it is a big tr

david: the u.s. government passed legislation large amounts of capital were injected into banks including citi. that meant shareholders, the creditors and the depositors were all protected. this time around silicon valley bank not only the depositors were protected do you think that was the right decision only to protect the depositors? jane: i think it's important to protect the depositors. right now the banking system everywhere around the world depends on confidence and that confidence has to be in the safety and security of the assets. in terms of the most important job here they did the most important job. which is making sure the depositors were whole. david: so when there were bank runs used to see people wind up on the street to get the money out night you just go on your iphone and you can take your money out many moves so quickly. having them in get out of a bank you can just do it over the phone. jane: it's a complete game changer, you are absolutely right. there were a couple of tweets and

david: so? jane: i was just enjoying the day job. david: you had a series of jobs. u were the ceo of this division or that division. one time they asked you to move to latin america to be the ceo of latin america. did you think that was going to be a dead-end? you were going to move to latin america and get out of the way of a succession or get promoted? jane: it was a big turnaround role. it is one of those ones you say if i did a good job, then that was going to put me in a good position for bigger opportunities. if i did a bad job, so be it. david: you are not afraid they would forget you? you are down in brazil or something and you were not afraid they would forget you? jane: no. [laughter] david: so, you did a good job. you are the head of the global consumer bank. what is the head of the global consumer bank at citi? jane: that is retail banking, a credit card, which i believe you are a proud owner of a citi credit card, david. david: i am. i have that here. well, i don't have enough frequent flyer miles on it. you told me i'm not qualified for my frequent flye

that was never in the game plan. davidd you move around the world over the course of your career as chevron? what did you do to kind of rise up? were you an operations person, an exploration or administrative person? mike: i started out as a design engineer and worked on big projects. so an oil shale project, not that type we do today, but the other kind you used to hear about, built a plant that you can't find any trace of today. worked on a facility in california to help bring in oil from offshore. sold for pennies on the dollar eventually. a project in africa that never happened because of a civil war. so i began by specializing in spectacularly unsuccessful projects. and at some point, i said, this doesn't look like a great career path. and so i moved into our marketing business, where i built gas stations and replaced underground tanks made of steel with ones that were made of fiberglass so they wouldn't leak. you and i remember the old clickety-clackity wheels that would spin around on the gas pump. i used to put in

it takes away the work ethic in america. davidrthy sounding the alarm on a new white house plan that will give, that will have americans with good credit status paying higher mortgage rates to subsidize higher risk mortgages. it doesn't sound like it makes a lot of sense. we have former director of the federal housing finance agency mark calabria. we'll get into whether it make any sense at the moment but is it really legal? >> that's a good question. they're trying to do it under equity plans under the conservatorship. this is questionable legal authority. it is worth remembering fannie and freddie are not exempt from antitrust laws. there is clearly example of price fixing here. if anybody wants to sue on that. there is questionable legal analysis underneath this. i suspect it will get litigated. david: incentives matter. that phrase, those two words, that two word-phrase i learned in economics, incentives matter this goes totally against the concept of incentives. this is incentivising bad behavior. and it is similar to what we

that is the problem. david: after the george floyd murder, i thought many people in the white business community said ok we have to do much more to get blacks on the boards. senior positions in corporate america. has that happened? talk about that. bob: the sad secret is white companies have announced they they are going to -- are going to put millions of into dollars diversity and investment in black businesses, among the people i know and a lot of people who say i got money from here and there and other places, it is really not happening. i saw something in the media that said there has been something like $50 billion of pledges made, but less than 5% of that has ever been implemented. to me, it is a real sad story, because it is not happening. and i would know, because no one has called me, and i have been successful, as you know, and the only thing i have done that with, david, and i am most proud of is the partnership i created with vanguard, fidelity, and one -- and be like -- the like to create a 401(k)

, that are the work. >> david: rachel scott, live at the court, thank you. new york city tonight, video inside the deadly parking garage collapse amid serious new questions. it tonight here are the images and the roar of the crash. just incredible video, one person killed and several injured. tonight the questions among them the number of cars on the roof. trevor all at the scene. >> reporter: tonight, new video from inside the new york city parking garage capturing the thunderous moment it collapsed. >> my whole apartment shook like an earthquake. >> reporter: the three-story structure pancake income i cars piled on top of each other killing one person and injuring seven other spirited sources say the building manager was killed and today his body removed from the rubble. neighbors tell us he was about to leave when the building collapsed. this giant crane pulling crushed cars out one by one and the suvs falling to the street. the building still unstable, gas tanks and electric car batteries now at risk of exploding. david, we learned investigators are focu

the early 1970's. it was a vibrant period. davidyou were at brown for a number of years and then you got recruited to be the head of argonne? walter: i did. david: what does argonne actually do? walter: argonne is what is called a general science national laboratory, one of the departments the department of energy owns but they operate it by contract. the university operates argonne. so, for much of this history it was involved in nuclear reactors. now it does basic science, a lot of materials science and low-temperature science. that is why i was there in the 1960's. it also has a very large facility called the advanced photon source, which is like a giant, high-energy x-ray machine that can penetrate through materials and examine them. it's also has some of the world's fastest computers. it has a big program in energy storage, advanced research on batteries. so it is a broad-based energy research laboratory now. david: so you are running argonne. is that a place that was filled with a lot of black physicists and mathematicians or

he called the indiana stat police, where he used to work. davidm's 13 year journey into was only minutes old. coming up, he was beating on the door saying, nelson nelson somebody's killed my family, they're all dead, they're al dead >> your family dead, murdered. how do you even begin to absor that >> all these things, spinnin around inside my head. it was surreal am i really hear it's surreal >> we went down to the ground, laid on his back, rollin around and says why, why didn't i hav to go? why didn't i stay with them? >> there was more pain, much more still to come, when "dateline" continues (michael) my tip is, the worst lies are the lies you tell yourself, like smoking isn't that dangerous. [announcer] you can quit. for free help, call 1-800-quit now. when you're ready to go, but static says “whoa.” try bounce lasting fresh dryer sheets. ♪ yeah! it's the sheet. ♪ bounce lasting fresh dryer sheets. ♪ it's the most wonderful time of the year ♪ it's spring! non-drowsy claritin-d knocks out your worst allergy symptoms including nasal congestion,

so the war's far from over. davidbut, mark, on the bottom right of your screen, you see a green screen. the dow is up 203 points right now. the nasdaq just killed it yesterday, was up about 2.5%. so the market just keeps going up despite all the bad news and, of course, we had that gdp report which was dismal. it showed an anemic 1.1% annual rate of growth in this country. it was half what was expected. why is the market so optimistic? if. >> the market, i mean, they're looking at everything through rose-colored glasses right now, investors are. you know, maybe a month ago the market was moving based on expected fed rate hikes or potentially fed cuts. now all of a sudden, you know, it's really moving based off of big tech earnings. so big tech earnings have pretty much saved earnings season so far. you know, you look at amazon, you know, obviously their guidance was a little disappointing when it comes to cloud growth. but the market continues to move higher because investors are really fix sating on the little -- fix

then i went on the board of the old bank located in san francisco. davidat one point, they said you should be the chairman of the board of bank of america, is that right? walter: that's right. it was not that simple, but that's right. david: did you want to be chairman of the board of bank of america? walter: i had no time to think about it. it came about so quickly as a result of a shareholders meeting in april of 2009. after the shareholders had put on the proxy agenda a proposition to separate the chair and ceo, as you know in most corporations, that is a combined position. the shareholder vote, it got the majority of the board to not have to accept that recommendation, but the -- the board did not have to accept that recommendation, but the board did. and after the board meeting the chairman, ken lewis, said the executive committee was going to recommend to the board that i would be the chairman. this is ongoing into the meeting. and i said how long do i have to think about this. they said about a minute. david: so, after you get that position a couple

that is the challenge. david when you were growing up, this was not an extremely wealthy city, country. hamad: no, it was not wealthy city definitely. it was moderate. you know that time if you compare the 10 countries, rich countries, it is very strange. in the 1950's or 1960's, one is lebanon and egypt. not you, the american. not us on that list. david: right. hamad: and you see how things change. david: when i first came here, more than 30 years ago, there was only one building that was more than four or five stories. the hotel. hamad: that is true. david: now doha looks like manhattan except it is more modern than manhattan in many ways. it's stunning the example of what you can do with the wealth if you deploy it appropriately. all of these buildings, who is occupying these buildings? are these local people? are they oil companies? who is occupying all the buildings and residences i see now? hamad: well, i think it is the same when you go to new york and you find oversupply in office and in commercial. i thi