dr. fischer. >> in terms of the subsidy, most of the studies show a broad range. it's very hard to be precise, you can't really hold all else equal. for purposes of this answer, let's assume -- and i do assume -- there is one. >> and it's significantly high. 50 points or more? >> you know, if you-in the exercise, it's hard to have any confidence in these numbers. you have got to compare a huge bank to a small bank, and they're very different businesses. it's just a hard thing, but i will assume it's real. your real question is are the surcharges high enough, and i would agree that they probable leave more to be done and, in fact, there are, there are ways to get at that. for example, one of the things we're looking at is the short-term wholesale funding aspect of these large institutions, and one of the ways to get at that, no one's decided yet, but one of the ways is through some kind of a capital surcharge based on exposure to short-term wholesale funding. so we're not done yet with the capital process. >> okay. ms. brainard? >> senator, i think it is very impor

dr. fischer pointed out.d also the importance of monetary policy to respond wrchlt the central bank is already at zero and there's no real responsibility to respond. there's no reason to think that fiscal austerity would bring growth in the sort of short and medium term. zble senator rkts i think what we can see clearly from the case is it is a contradiction and does not work. i think we've been fortunate here in the u.s. to have appropriate support for command coming off of a very damaging financial crisis, during a period where the private sector was deleveraging. in my previous work at treasury, i worked very hard to work with my colleagues to persuade them that it was very important to avoid the terrible human costs of very high unemployment, to provide more support for demand, and of course, it was very important for us here to have a strong partner in europe. so going forward, i think going to hope that he provides support for recovery so we have a strong both economic and strategic partner in europe. >

dr. fischer, please begin. >> thank you very much, mr. chairman. i'm very happy to have my wife rhoda of 48 years sitting here behind me and friend from high school in zimbabwe, now an american citizen, attorney abrams also sitting behind me. shall i make my statement now, senator? >> yes. >> chairman johnson, ranking member crapo and members of the committee, thank you for this opportunity to appear before you. i'm greatly honored to be nominated by president obama to serve as a member and vice chair of the board of governors of the federal reserve system. i look forward, if confirmed, to working with this committee in the coming months and years. in recent years the federal reserve has made significant progress toward achieving its congressionally mandated goals of maximum employment and price stability. nonetheless, normalcy has not been restored. at 6.7%, the unemployment rate remains too high, and the rate of inflation has been and is expected to remain somewhat below the federal reserve's target of 2%. at present achievement of both maximum e

dr. stanley fischer says about fed policy and what's ahead for the economy. ♪ >> earlier this year, mobileanagement whetted appetite for a blend of casual dining entertainment by buying turkey cheese. now it seems they're hungry for more. the private equity side is winning a bid for dave and busters, and other chain that blends arcade games of food. cheese.g chuck e 75% of the market. what are the benefits of owning the two companies? >> they do the same thing for different age groups. chuck e cheese does not have booze. dave and busters does. there are limiting costs. you could start with headquarters -- both are headquartered in dallas. you think about having one unified headquarters for both companies. then you go into the actual operations and these guys are large buyers of food and games. there you might have some more leverage with your suppliers. this all comes down to cost cutting. >> it's all about business here. >> absolutely. no fun. >> what is the real growth potential for both buddies? the growth of the industry revenues are going to accrue mainly to the benefit of these two c

dr. fritz fischer. and during the determine burg trials -- nuremberg trials after he heard a particularly gruesome bit of testimony by some survivors, he turned to one of intelligence officers, dr. leopold alexander who east really one of the heros of book, and he said just hang me now. but that was it. right here, yeah. >> two with quick, or i'll say 'em quick, you can take as long as you want. first is another notorious person from world war ii who was involved with expoormts and, of course, not part of any of his people part of paperclip was mention la. using the information he garnered from his experiments, is your book touching that at all? mention he i write about in my area 51 book but not in paper clip. as far as we know, you know, he was in germany for a while, then he went to south america. but the question you raise about the information used is extremely important. and what i will tell you is that there's a two-part air force physiology manual which is very difficult to get your hands on that