you can say the same thing of henry paulson who was the treasury secretary. although his reputation is not as high as bernanke's. he acted decisively on a number of occasionss to help stabilize financial markets. i think that the credit for stabilizing the economy belongs not just to one person, but to an array of people in both parties. but they all made mistakes at different times. nobody was perfect. under other circumstances, things might have gotten much worse. >> who do you think has been wrong? >> everybody has been wrong. if somebody committed a single sen more that -- a single sin -- >> talk shows are pointing their finger at the other side. if you were just listening to figure out who is wrong. they say that president obama is a socialist and if you look at the left, they will say that it is george bush's fault. when you say that is baloney. -- baloney? >> this is -- this falls along the lines of "the great inflation and its aftermath". the fall of double-digit deflationary was the greatest economic event of the last half century. as i said earlier,

you could say the same thing about henry paulson, the treasury secretary. although his reputation is not as high as bernanke's, during the crisis he reacted decisively to help stabilize the economy and financial markets. i think when president obama came in, they continued to broaden these policies. so i think the credit for stabilizing the economy belongs not just to one person but to run a ray of people in both parties, but they all made -- but to an array of people in both parties, but they all made mistakes and nobody was perfect. under other circumstances, things might have got much worse. >> who do you think has been wrong? >> everybody has been wrong. did somebody create a single sin that led to everything else? i do not think so. >> if you listen to the talk shows -- >> i do not. >> if you listen to the top shows, they point their fingers to the other side. if you listen to who is right and wrong, conservatives say president obama is a socialist and all that. if you listen to the left, they will say it is george bush's fault and all that. fault and

it was henry paulson who said we have to do this thing.s supported by democrats and republicans. it was big and controversial, and there is still a lot of debate about its effectiveness and that sort of thing, but a lot of economists are in agreement that it has saved them a much tougher economic time. i think what the debate is now is because that was an $800 billion bill or something like that, all that was not spend -- the republicans want to take the money that was not spent in pay back the deficit. the obama administration, one to ce you have the money, you did not want to give it back. that is where the debate has gone just to clarify that a little bit. host: talk to us more about the raising of the debt ceiling. how close are we to facing some sort of a government shutdown the way the clinton administration had a face-off with new it being bridge? -- with newt gingrich? guest: often times congress for its history, but they're not shortsighted enough that they have forgotten what happened with newt. clinton came out of that smelling

finally, the former borscht top economic adviser, treasury economicrmer bush topi advisory panel, henry paulson, sold his house for one third less than his asking price and more than $1 million less than what he paid for it four years ago. >> house republicans are moving ahead to repeal what they called the job-killing health care law. the debate begins this friday with a vote next wednesday watch live coverage of the entire vote on c-span and view the bill on line at c-span.org. and listen to historic supreme court cases on c-span radio. saturday, the court considers the definition of "independent ," end racial discrimination. -- and racial discrimination. you can listen on line at c-span is based radio.org. -- c-spanradio.org. host: quarrel davenport is joining us. -- coral davenport is joining us. the epa has new regulations. tell us about what they represented. guest: this is basically the administration's first foray into regulating the industrial greenhouse gases that cause global warming. as you recall, there was an effort by democrats in congress last year to pass a broad climate change

it was henry paulson who said we have to do this thing.pported by democrats and republicans. it was big and controversial, and there is still a lot of debate about its effectiveness and that sort of thing, but a lot of economists are in agreement that it has saved them a much tougher economic time. i think what the debate is now is because that was an $800 billion bill or something like that, all that was not spend -- the republicans want to take the money that was not spent in pay back the deficit. the obama administration, one to ce you have the money, you did not want to give it back. that is where the debate has gone just to clarify that a little bit. host: talk to us more about the raising of the debt ceiling. how close are we to facing some sort of a government shutdown the way the clinton administration had a face-off with new it being bridge? -- with newt gingrich? guest: often times congress for its history, but they're not shortsighted enough that they have forgotten what happened with newt. clinton came out of that smelling like

paulson gets where he lives. few know better than former treasury secretary henry m. paulson jr. how the struggling u.s. economy has battered home prices. as president george bush's top economic advisor, paulson played a lead role in battling the u.s. hoiled housing downturn and the deep financial crisis it sparked. but last week it got personal. paulson sold his three-bedroom home in a washington neighborhood last week for close to a third less than his initial asking price and more than $1 million below what he paid." your top story for 2010? caller: i think it encompasses a lot of things. politicians increasing themselves in the political spectrum. between the election, they should become part of the republican news network. my other two stories, glen beck's rally and john stewart's rally. i think both of them were significant. i think more people that came out for the john stewart rally were for sanity, ask that's what it is all about. host: and you don't think the folks that came out for the glen beck rally were for sanity? caller: no, i think they were trying to stirrup feelings. host: c.v.s. care