i spoke with franklin allen, professor at the wharton school, and began by asking whether he thinks the 30 year bull run in bond prices, is coming to an end. ask. >> it may do but i woon be sur prised if it went on for a little bit longer. >> when it does end will it be with a whimper or with more of a bang? >> it depends very much what happens between the president and congress in the negotiations about the budget deficit this year, i think. >> we certainly saw in 1994 the last time we had a really big move in a very fast move in interest rates, they moved higher pretty quickly. could we see the same thing if there is no long-term resolution? >> i think it is unlikely that we'll see a very fast move if there's no long-term resolution immediately because there's always the possibility of pushing it into the future. and that's quite possible this time around too. the one thing that might make a big move possible is if there's some international incident or something like that which gets the chinese and the japanese to start withdrawing large quantities of their money. then i think we cou

we talk with professor franklin allen.you can read his work online, head to: www.nbr.com and look for the "nbr-u" tab. compromise may be a dirty word these days, especially in washington, with one week left before the sequester takes effect, cutting government spending. this week, lou's been thinking about deal-making. here's author and educator lou heckler. >> as we witness the give and take in washington, dc, these days, i am reminded of an article i read recently in the washington post about the actor dustin hoffman. like many people who perform in front of the camera, he also longed to direct a film. he has done so with a film called "quartet." in the article, he talked a lot about how that side of the camera taught him a lot about compromise. he has never been known for being a compromiser. he is a talented and exacting performer who has wowed us in films like the graduate, tootsie, and rainman. now, as a director, he had to make a lot of people happy, and that takes a talent for compromise. i talk to a lot of mid-lev

the first woman appointed to a federal appellate court was florence allen, appointed by franklin delanoroosevelt 1934. florence allen, she served on the sixth circuit. when she retired there were none until president johnson appointed shirley hostettler. she became the first secretary of education. then, there were none again. there was a president who changed the way things were. he tremendously deserves credit for that, and that is president jimmy carter. he never had a supreme court nomination to make, but he literally changed the complexion of the u.s. judiciary. he looked around at the judges and said, you know, they all look like me. [laughter] that is not the great u.s.a., so i am going to look for judicial appointees in places where no one looked before. i am going to appoint members of minority groups and women in numbers. president carter did that on the whole. i think the american bar association ranked his appointees higher than his predecessors. he had only four years. he nominated and confirmed 11 women to court of appeals over 25 district courts. no president ever went ba

the first woman appointed to a federal appellate court was florence allen, appointed by franklin delano roosevelt 1934. florence allen, she served on the sixth circuit. when she retired there were none until president johnson appointed shirley hostettler. she became the first secretary of education. then, there were none again. there was a president who changed the way things were. he trememndous deserves credit for that and that is president jimmy carter. he never had a supreme court nomination to make, but he literally changed the complexion of the u.s. judiciary. he looked around at the judges and said, you know, they all look like me. [laughter] that is not the great u.s.a., so i am going to look for judicial appointees in places where no one looked before. i am going to appoint members of minority groups and women in numbers. president carter did that on the whole. i thinkthe american bar association ranked his appointees higher than his predecessors. he had only four years. he nominated and confirmed 11 women to court of appeals over 25 district courts. no president ever went back

the first woman appointed to the federal appellate court was appointed by franklin delano roosevelt in 1934, florence allen, who served on the sixth circuit. when she retired there were none until president johnson appointed shirley hostettler. initiative came the first ever secretary of education. and then there were none again. there was a president who changed the way things worked. he deserves tremendous credit for it and that is president jimmy carter. he never had a supreme court nomination to make, but he literally changed complexion of the u.s. judiciary. he looked around at the judges, and he said, you know, they all look like me. but that's not, that's not the great u.s.a. so i am going to look for judicial appointees in places where no one looked before. i'm going to appoint members of minority groups, and women in numbers. president carter did that on the whole. i think the american bar association ranked his appointees higher than his predecessors. he had only four years. he nominated and had confirmed 11 women, to courts of appeals, i think over 25 the district court. and no president ever we