world dominance and we're so happy to have you on the show dr hudson nice to see you as always so let's start with your recent piece you wrote banking wasn't meant to be like this you kind of gave a short history of banking over the centuries concluding with how it looks today what were you getting at there what is banking supposed to be like. there always been two ideas of acting so it wasn't supposed to be like to get a player it's extract the whole idea in the late nineteenth century especially in germany was that banking was supposed to work with government to finance actual capital investment in industry but if you look at banking today you have some very flat set of loans to consumers all of the growth in banking in the last five years has been loans to other credit other financial institutions so banks don't make loans for tangible capital investment to increase output them toil labor that's time retained earnings of company it's banks make loans for derivatives for speculating currency for arbitrage interest rates and for stocks and bonds and of course eighty percent of bank loa

world dominance to talk about just how relevant it is because dr hudson you've mentioned because you know capitalism gangsters used to run the casinos we just saw a little movie clip of it is it any coincidence that gangsters run them again in the sense of the banks well that's what franklin roosevelt pointed chair of banks. this is their idea of free market is a market free from consumer protection free from anti-fraud laws and this is exactly it's kind of free market with the classical small you know the sort of ironic that they're using they're claiming adam smith in the classical.

listening to mainstream economists all last week and davos i really appreciate it as always dr michael hudson. all right so now that i'm back from davos i just want to say first thank you so much to our viewers and to the twitter community and to guests like jim rickards and ed harris and max kaiser and stacy herbert who were so super supportive of the coverage and my trials and tribulations at the world economic forum now if you watched our show or read my tweets you know about the experience but this was my first davos so i did want to kind of debrief you on my biggest takeaways on a personal level now before this i had only really read about davos and learned about it from a chapter about davos and superclass which is a really great book by david rothkopf which jim records actually recommended to me which gave this really good kind of insider e. account so i don't know what i was expecting but i think davos is probably completely different based on who you are and what bad you have and so i can really only speak for myself i'm not trying to characterize the whole thing i'm not trying to pa

please join me in welcoming back to the hudson valley dr. e lita black. >> hi, everybody. >> well, my job in nine and a half minutes, is to tell you about eleanor roosevelt as a war leader which, if we can accomplish, we should all agree that i should get the nobel prize for history. of course, they'd have to create one for history first for me to get it, but i would like to do is ask you to move beyond the preconceptions that you have of eleanor roosevelt as a great woman of sorrow. a great woman of conscience and sort of lack of humor, if you will, who only dabbled in politics out of concern for humanity. as i tell students and teachers all over the world i can go home and flap my wings and be back in washington in 15 minutes. this woman was first and foremost a political war horse, to pick up the topics that panel has raised so far edward r. morrow is an exceedingly brilliant, pioneering journalist. eleanor roosevelt was the third most indicated journalist in the united states and the second most syndicated journalist with world circulati

hudson. i was tremendously impresed. >> rorn paul. >> why? >> our fiscal house is a mess. it's time we take our medicine, and dr. paul has the prescription.-- >> all right. he's got the analogy down. we have another story here. kind of disturbing. these are pardons that have rocked the country. conservative haley barbour's idea of leaving the office was to set free 199 convicted criminals. those include 14 murders. others convicted of rape, armed robbery, drunk driving. numerous drug related offenses. almost all 199 received all complete unconditional pardons, essentially wiping their criminal records clean. now victims families have devastated. >> heft left laying on the floor in his mother's blood that day. >> i think the governor himself have to look me and if family in the eye and say we have to let this guy go. >> something this important doesn't need to be in the hands of one person. >> is governor barbour going to pardon us from the aches and pains and heart ache that we suffer? >> the only thing we can get is -- what the process is -- >> traditions are not always good. this again has given mississippi a black eye. >> she was 20 ye

hudson at noon eastern. that is tomorrow on c-span. texas congressman ron paul continues traveling in advance of the primaries. next, new hampshire superior -- new hampshire. >> i want to give dr. paul a chance to introduce his family. >> i thought you would be tired of politics. before we get started, i want to introduce several members of my family. this is my wife, carol. you might have received some greetings from her. she has sent out a lot of cookbooks here lately. also, a daughter-in-law is here. and her daughter, linda. we also had the arrival of a son, and we celebrated his birthday yesterday, senator landfall. >> lending is jim forsyth. i am from the lakes forsyth. we also have senator sanborn and senator white on board. i am glad to have the support of so many senators. i have the honor of working with grand fall when he was campaigning for a father. i got to know him very well. he is a true believer. at that time, he did not want to run for office. he was a family man and had a successful practice. he saw the call to duty and i am so glad that he did. he has done a fantastic job. senator ran the fall introduces his father. [applause] >> thank you. thank you. what a