dr. meltzer in 1978. >> i'm sure he remembers you. >> my question is this. you were describing the banks and their recent efforts which i guess are probably just starting to raise their dividends, buy back stock. in other words, do they want to go back to the days of when bank stocks paid dividend yields twice the s&p 500 and banks were largely run for their shareholders? i mean, it's one thing to say that this is appalling. it's not thing to say where is this going and why? thank you. >> let me just say, your interview is being incompetent here. we need to keep on a strict schedule. please keep your answer brief. it will have to be the -- >> i'm sorry. what did you say? >> i would stop it. that is i would reverse -- if we're going to bail out the banks, then congress should vote to lend them the money. which they haven't. >> why do you think the banks want to go ahead and do this, then, if it's contrary to good public policy? >> because they -- it's not contrary to their private policy. >> i think we'll finish there. thank you very much, indeed. thanks, all

dr. meltzer and my colleague here clyde crook, in this discussion of course we have sheila bair. we have laura tyson. larry summers. fred hockberg. i think i'm even missing someone there. gene spurling. yes. gene does not want to be forgotten, so gene will be here. and we will have this. but as a thank you to all of you as well, we've just decided to have a reception at the end with real drinks. and it's on us. i just felt like for those of you who are sticking this out with us, we want to make sure that you're welcome and join us up until that end. so i'll be back. without further adieu, please welcome my guests clive crook to have a conversation with allen meltze rerks. allen, thank you for being here. >> sure. thank you. [ applause ] >> well, this is quite a parade of talent that you've got unfolding in front of you. but i do want to commend this interviewee, allen meltze rerks. he really is one of the most eminent economic scholars in the world, an authority on monetary history, monetary economics, monetary policy and an author of a wonderful two-volume history of the federal

dr. allan meltzer in 1978. >> i am sure he remembers you. [laughter] >> describing the banks and the recent efforts that are starting to buy back stock stock, to they go back to paying at the s&p 500 and phoenix run for their shareholders? it is one thing to say it is appalling and another to say why? >> your interview is a competent. that has to be the last question. make the answer brief. >> to doubt the banks then congress should vote to lend them the money. >> baidu think the banks want to do this if it is contrary to good public policy? [laughter] >> it is not contrary to private policy. [applause] and we will finish here. thank you. another member of con another member of congress announced his retirement, completing his 15th term before stepping down becomes the 15th democrat to announce his retirement. nine republicans have also announced affairs. >> i was quite a radical as a young person. thinking we should overcome was not very effective way to gain civil-rights. i thought more confrontation was needed. >> walter williams on being