john taylor, glen hubbard. >> glen hubbard would be in the first -- except one problem. he likes ben bernanke. he supports what ben bernanke has done and he said that ben bernanke should be considered for the job and he's made some republicans angry. then there's john taylor and john is a brilliant economist. he's invented the taylor rule. he follows a version of the taylor rule thatittle bit about a john taylor appointment. >> hey, bill, would you take the job? if you were offered? come on! >> newport beach is too wonderful in terms of its environment -- >> i would ask it differently, bill. do you hate yourself? how much do you hate yourself? would you take the job? >> and how well can you grow a beard? >> let me shift the discussion, talk about taylor a little bit. taylor has mentioned that if he were fed chairman, that he would drop the unemployment mandate. would hope to drop the unemployment mandate or at least suggest to congress that they do so and then simply focus on inflation which would be more german than u.s. >> the guys at barclays did a not job of gaming o

just one example, governor romney's economic advisor glen hubbard before the campaign had a very interesting creative proposal to help people refinance into these lower rates and deal with their negative equity, but would it have cost the government $120 billion. the boost to the economy would have been huge burke that up front cost is a political loser, shall we say. >> tom: a lot to swallow. speaking of political cost, we haven't heard the fiscal cliff uttered hardly at all in either debate. even though at least one of these candidates, if not maybe both of them, will have to deal witness. >> that's surprising. we're hearing all this stuff about binders full of women, but the fiscal cliff is the biggest single immediate economic issue facing us. but i think i found out today why we may not be hearing so much about it. a poll came out and said that 88% of american voters blame both parties for the mess that we're in. they think they haven't done their jobs and basically they've created this washington mess so, both candidates i think have no incentive to talk about it. >> tom: we know they'

glen hubbard from the columbia schools. >> airlines making changes hair. over the past five years the airline cut smaller fees and flights shorter than 500 miles. that's kierd to go a new study by the office of inspector general of the department of transportation. another money saving strategy for the airlines and you are definitely familiar with this one. packing more passengers into bigger planes. is there any consolation for fliers out there? according to the study your flight has a greater chance of being on time and not being kept. >> that's good news. >> homeowner's insurance. you have new information for us. >> we are more satisfied than ever when it comes to homeowner's insurance. they like to bundle their auto and homeowner's policies. according to a jd power it was 785 out of 1,000 topping the list a michiganing ca mutual with 859, followed by aaa in southern california. american family and shelter. now the big insurers like travelers state farm and allstate they made a high grade. >> if you can get a home these days. yes. >> it's always good to

. >>> former council of economic advisors chairman glen hubbard has been mentioned as a possible candidatee fed chairman bernanke if mitt romney wins election. well, we're going to find out if glen would end the fed's stimulus programs in the next hour. >>> then maria's one on one with imf managing director christine lagarde who has plenty to say about our fiscal cliff here in the united states. we look forward to seeing you at the top of the hour from here at the new york stock exchange. see you then. >> we lynn deed see you then. >>> it is not a journey. every journey ends but we go on. >> chanel unveiling its new ad for chanel no. 5. he is the first pitchman for chanel's famous scent. he reportedly got $7 million for the gig. i don't think it's really sexy enough. >> they offered me $4 million. i was like, are you kidding? chanel, come on. they didn't offer me anything. >> they really didn't. >>> speaking of deals, this was the deal that shook -- an they really wouldn't -- this was the deal that shook the world. on october 31st, 1989, japan's mitsubishi famously bought control of new yo

it means a fed chairman, for example, like glen hubbard. here's what barclays said. any new fed chairman after january 20 14 14 14 is likely t more hawkish than under an obama presidency. >> let's talk a little bit about whether there is any possibilities should there be a romney victory that he would begin nudging him out above his term ends in 2014. >> he can't force him to resign. it is a voluntary thing that bernanke would do. dose have the ability in 2014 appoint the chairman an vice chairman and another member, beginning already actually. but the thinking is whether or not there is a war of words. and steven stanley, the economist steven stanley, doesn't think that bernanke would win that. he said, "the fed chairman could resist the pressure, could trigger a -- potentially triggering an ugly standoff. in that standoff bernanke would have the low cards. >> bernanke wouldn't want to politicize the fed but one wonders whether bernanke, knowing that mr. romney has said i'm not going to reappoint you, whether mr. bernanke would say some time in 2013, okay, i'm going

he could also go with a glen hubbard. someone who would be a lot more market friendly. then all the sudden this talk of a hawkish debate could be december pate dissipated. i think if the market was planning on qe open ended for years and years as bernanke was saying, what could change that? a romney presidency could change that. you'd have to start factoring in a different kind of fed if a romney presidency looks more likely in the coming weeks. >> let's get back to the marks here as we go into this final hour. todd, what are you doing right now? >> i'm buying right now, bill. i'll tell you what, you'd be a fool to stay on the sidelines right now. there's some great sectors right there. you really want to concentrate on growth, maybe in the recovering economy, maybe a romney presidency. whatever you want to say. you could look at consumer discretionary names. they should do wonderful, especially with fed accommodation. history has shown us previous times, consumer discretionary stocks did exceptionally well. overall the stock market should do great next year. you can lo

the economists are on the side of stiglitz and krugman and others are on the side of people like glen hubbard and others? where are the majority of economists? >> i think the majority of economists, i think, are on the side that you need a fiscal stimulus at the current time. that monetary policy, qe 2, q e3 is not going to work. and the only way to get recoverry is through some version,n,n, some form of fiscal stimulus. i think the majority of economists. >> like the fiscal stimulus we had before or like what the fed is trying to do with q e3 i think the majority of the economist does not think it will have much effect. >> what do you think is necessary for the american economic recovery? >> i think you need a stimulus like qe-- like the fiscal stimulus that we had before but better designed. >> to have the kind of corporate investment that you think -- >> exactly. not across-the-board tax cuts for, you know -- >> is that what was wrong with its stimulus in the first place, all the tax cuts that were part of it? >> that was one of the things that was wrong. a second thing that i would have d

. >> we had glen hubbard on after the debate and i said look, was there anything new of consequence that either candidate laid out tonight? and he looked at me and said you think the end of the campaign is the time to lay out something new of substance? >> they never brought up the fiscal cliff, ever. >> i don't think the words fiscal cliff were spoken. and i think that reflects the fact that for both candidates, the solution to that problem involves bad stuff that's unpopular. and that's why we're not going to hear about it and we're not going to get a solution. i still think we will after the electioning but we're not going to get one before. >> john harwood working overtime. appreciate it. >>> when we come back, google's larry paige makes his first public appearance following an illness. we'll have his comments. >>> plus, larry summers, why he warns that the at tdebate is paralyzing the economy. check out this video. the idaho potato commission is celebrating 75 years by sending a giant potato sculpture across the states. the commission donated $100,000 to metals on wheels. [ horn hon