for lincoln, god is inscrutable and to presume to know god's will is hubris. here the will of god prevails. in great context each party claims to act in accordance with the will of god but both may be and must be wrong. he's uncertain. you read the preliminary emancipation proclamation. how he made that public is ultimately lincoln understood that the closest that you can come of understanding god's will is to look for signs. that's a classic calvinist understanding. it's hubris to presume to know god's will, but we can look for signs of what god wants. and new eh knew that there was going to be a major battle between lee and mcclellan, which becomes the battle of antietam. with the news of lee's invasion in the upcoming showdown, lincoln actually tells his cabinet that he has entered into a covenant with god. and in this covenant with god, he basically says if union achieves a victory, i will take that as a sign that god wants me to make public this emancipation proclamation. this is from gideon wells, the secretary of the navy. and mcclellan declared a tenuo

there was a brief moment of hubris in late february, late january, early february, when the regime decided to use its superior weaponry to hit back and smashed a free syrian army in homs. after that, we started to view reports about massacres, which we were skeptical about at first, but now we learn more about that. >> the aftermath of the latest massacre, how different -- , and as this change the equation in syria, when you have civilians being massacred on this scale? >> we are seeing something different in scale but not something different then what has been happening since the beginning of the year. in some cases, it has reached the hundred mark in these instances. this is happening in one part of the country. homs is a patchwork of shi'ite, christian, sunni villages. what we're seeing is extended families being killed in revenge for an individual member's actions. we have not reached the point of people being killed because they are shiite or sunni, and that is what everybody fears. >> the longer this situation goes on, the greater the risk that more people get sucked into sectarian r

what scares me here is that they share the hubris that they can create jobs. congress isn't taking enough action to create jobs. congress creates patronage and does not create real jobs. the public sector creates job and the government has been a gigantic drag on this recession, and i'm hopeful that that will change regardless of whether there's a change in the administration or not. i'd like to open the q & a period to the audience and please raise your hand and we'll pass the microphone to you. please stage your name and your affiliation. >> paul paige. i'd like to ask each of the panelists what is your forecast for gdp in the second quarter and what do you think that will mean for president obama's re-election or mitt romney's election in november? >> i didn't bring my green eye shades so i'm not sure i can make an accurate prediction of second quarter gdp growth. it's not going to be very good. we're around 2%. i don't think we're going much over that any time soon and it certainly doesn't seem likely that we are. what does it mean for the presidential ele

was it hubris? did he think he had a much tighter grip on his inner circle than he ended up happening? why do you think he had confidence to keep this secret? >> i don't know but i was flattered by it, because the secret was well kept, until this -- and to answer the question earlier that someone mentioned, perhaps it was the dean. why he didn't burn the tapes. i always felt i knew why he didn't. it was simply because he could not fathom, he couldn't imagine, the tapes ever being revealed. he really didn't. he had that much confidence. on i'm sure that's right early on. there was no one that was going -- it is amazing. henry kissinger didn't have a clue, rose mary woods did not vat clue. we just didn't run around talking about it. and -- well, you know. i think i'm right about that. i don't know. >> scott had a footnote for that. >> the footnote in general, because i made all of these insulting remarks about the process of legal inquiry being a good road to the truth. the fact of the matter is, the

derivatives or these complex products because they require so much intelligence bring out a lot of hubris and a lot of ego in people they set up the wrong kind of incentives you get paid a lot if you get it right everyone says how smart you are and so it's really hard to back away from that and say i was wrong i'm humble and maybe i don't deserve that big salary and so i think that lore is especially there with derivatives intrinsically there's nothing about them that you know should be necessarily evil it's how we treat them so i think that's one aspect of it and then also you know other banks have the same problems with profitability as well right why do they resort to derivatives because the basic products of banking are not as profitable as they were well let's talk about who's to blame for that you know looking back at the numbers back in one nine hundred sixty banks had sixty percent i think i need to check that number but seventy five percent excuse me of their excess cast were cash was in treasuries you fast forward to today and they have the average bank six percent of its portfo

greed, arrogance, hubris, lack of attention to detail. but if you do a good job, your clients are being served and you win their business. so if we weren't doing some of these things for the large global american companies, somebody else would. that's all. these are services they need. they buy them because they need them. they don't buy them because we want them to buy them. we provide huge credit lines to them. >> my last question. you believe that a highly complex institution is necessary and if you weren't doing what you were doing, other people in the world, some other place, would be. you also are unsure of whether dodd-frank has made our system any safer, especially at the top level. we're here quizzing you. if you were sitting on this side of the dias, what would you do to make our system safer than it is and still meet the needs of a global economy like we have? >> the biggest disappointment i've had is that we never actually sat down, republicans, democrats, businesses and had real detailed conversation about what went wrong, wh

hubris causes carelessness. but humility create caution. caution breeds thoughtfulness and thoughtfulness stimulates preparation. humility reinforces the need for and the success of preparation. to be clear, humility should never be confused with quiescence. it would be wrong to shy away from a challenge using humility as an excuse. you each have talents that you have an obligation to maximize. moses led the heber's out of egypt to the promised land, painfully aware of his limitations. god instructed him to have faith in what god would provide. god told jeremiah, call on me and i will show you a great and mighty things you do not know. as children of god, we appreciate our limitations and we shouldn't have any difficulty being humble. we know that when we try to do god's will, there is no limit to the empowerment he can provide. this verse from jeremiad answered very hard questions for me after 9/11 and it has been an inspiration for me ever since. each of you will be called in different ways. you leave with a base of knowledge but also wit

the author of showdown about the obama administration, and hubris and the bush administration and howith me again. what does this issue say about romney? >> it says that he is very, to be kind about it, flexible when it comes to describing his own past. not only did he say he longed to be in vietnam, he also said he was frustrated that he wasn'tble able to be in vietnam with the troops. he said that in 2007. there was nothing preventing him from being in vietnam. they say he didn't do anything to take himself out of the pool of applicants for the draft. as you mentioned, four deferrals, and a pretty controversial deferment at the time for the mormon missionary trip. it was controversial. it looks like there was a dodge for mormons as opposed to other religions. so he had to seek those deferments, and he could have not asked for them, he could have kept his name in the graft. there were a lot of ways that he could have put that longing to good use, and he chose not to. even years later, as an adult, not as a young man, he is sort of fibbing, telling stories, not coming to terms and try

i think there would be a lot of hubris involved in that. we do try to cut through the bureaucratic language in get to the outcomes. >> just in researching your background, i watched the speech you have given us on you to before a trade group. you were sizing all kinds of things including ready.gov. i found myself drowning in all of the information. i got on the website. i looked at them. how effective are these things? >> you pointed out something valuable. you have to reach people where they are. some people may not be interested in having reams of data presented to them or big thick books about how to prepare. some people would prepare to talk about it. other people would like to watch a short instructional video. other people it is as simple as updating a social media side for here are the things you should do to get ready. the messaging does need to be as simple as we can make it but as informative as we can make it. we try to encourage people to make emergency plans. we do so anyway that we ask them "if you were stuck in washington on

right now with the military council is acting with a lot of hubris and also what appears to be [unintelligible they fear their power may be slipping. right now they hold all the cards in terms of the levers of power of the state. >> sharif, what role does the u.s. play in all of this? >> victoria nuland expressing concern. but words reallrarely match the action. the u.s. policy toward egypt has really changed since before the uprising. they back the mubarak regime for decades. congress last year in the wake of the revolution added a provision that the state department had to certify the ruling military council was doing a transition to democracy. there was a security waiver issued by the obama administration that over the provision to continue the aid to egypt, despite the widespread human rights abuses by the army and security forces that came in the wake of the ngo crisis, where u.s.-funded ngo's were raided and closed down and the son of the transportation minister sam lahood was not allowed to travel or leave the country. we see this continuation of u.s. policy or issues regarding regional

i don't have that list in my memory but hubris stands out, arrogance. how do you manage a company the size of jpmorgan and overcome the -- bet list -- and overcome that list that are natural occurrences. >> they can occur in smaller organizations, too. >> you're not talking about the senate, surely, and definitely not, not now. [laughter] i think all companies want to have great employees, always analyze things come always challenge yourself and learn from your mistakes and people are honest all the time and do share reports. there are ways you can avoid the negative of being a big company. hopefully, we foster the right kind of culture at jpmorgan. we believe we are in business to serve clients, that is job number one and we do it every day around the world into thousand communities around the world and we hope our people believe that and it is in their hearts to do the right thing every day. we as people to treat your friends and your parents. if you see a problem, you should raise your hand and call the right people. we have constantly try to improve

. >> greed, arrogance, hubris, lack of attention to detail. >> reporter: that prompted republican jerry moran to ask. >> how... how do you manage a company the size of j.p. morgan and overcome those-- that... that list of adjectives that you described are just a natural occurrence within a large organization? >> well... well they could occur in smaller organizations, too. you know, i -- look we hope we have very good people and... >> you... you aren't talking about the senate, surely? >> no. >> okay. >> definitely not... not now. >> reporter: next week, dimon heads to the house for questioning. we'll see if his sense of humor remains intact. >> brown: and gwen ifill takes up some of those questions now on today's testimony and risk on wall street. >> ifill: and for that, we get two views. dennis kelleher is the president of better markets, a not for profit organization pushing for tougher financial regulation and transparency of wall street. and bert ely heads his own consulting firm specializing in banking, monetary policy and financial regulation. dennis kelleher, in the end, after al

there openly admitting oversights and maybe even hubris cost his firm, jpmorgan chase, between $2 billion to $4 billion. could it ultimately cost as much as $7 billion. of course, no wonder our specialist says investor confidence is shot when one of the best ceos and best and biggest banks is able to take a banana pie to the face like this. so how do you get a legitimate history in the culture such that you have a little less wild reckless or wild risk taking and a little bit more aggressive opportunity seeking which really was what wall street was intended to do? joining us now is john taft himself, ceo. part of the royal bank of canada. also author of "stewardship." what's the lost culture? >> it is a culture where serving the needs of clients and furthering economic growth is the principle purpose of the financial institution. >> sit a prerequisite you must be using your own money? if i'm using other people's money, it is simply -- very hard to do what you are describing and i can make money, lot of other -- much easier way. >> i'm going to disagree with you right out of the chute. let

anti-american, as i have been many times for suggesting this, i don't know ir it is narcissism, our hubris, our patriotism, or nationalism unchecked patriotism -- we, as d americans, don't want to consider that we could be on the edge. that we could be on the precipice. that we could be on the verge, as dr. west said, of imploding from that internal rot. we take this head-on in the book. this whole notion of american exceptionalism.ere are so there are so many of us who aree stillbi believe that we are the biggest, we're the baddest, we are the boldest -- we are all that and then some, because we e are the united states of u and th america. the data just doesn't bear that out.don't one out of two americans are in or near poverty. they don't talk to me about american exceptionalism.agivin i was reading the other day about president obama being urged to be more competent on the campaign trail. to be more and -- to express mye enthusiasm about our future. you have to be more reagan likec they were pushing him to changea the narrative a bit. doctor west said earlier, when you let people come y

hubris stands out, arrogance.ow do you manage a company the size of jpmorgan and overcome that list of adjectives you described are just a natural occurrence within a large organization. >> they can occur in small organizations, too. we hope we have very good people. >> you aren't talking about the senate surely. >> no. definitely not. not now. look, i think all companies want to have great employees, open, always analyze things, challenge yourself, learning from your mistakes. people are very honest all the time, share reports. i think there are ways you can avoid the negatives of being a big company. so hopefully we foster the right kind of culture at jpmorgan. at jpmorgan we believe we're in business to serve clients. that is job number one. we do it every day around the world in 2,000 communities around the world. we hope people believe that. it's in their hearts to do it every day the right way. we ask them to treat people the way you treat your friends and your parents. we ask if you see a problem, raise you

. >> no, especially if you have any hubris or arrogance and you continue tuned shift. big thing for rimm they had an antiquated browsing system. they were on java. everyone else was on unix. >> thank you. i mentioned some of these comments come being out. on the one hand they are saying be uk bank should join emergency cash to boost lending. then he's saying banks should raise capital. explain that to me kelly, you're smarter than i. they need to draw emergency crash. we got credit. tight credit conditions. could you raise -- i want to draw your cash bufrs and raise capital. >> raise capital. but not seeking permanently high levels of capital. we want to you have a capital buffer for this crisis. if you're banking and confused by this we don't blame you. there's a lot of nuance we would like to have it three or four different ways. >> they are saying they have 500 billion in buffers. they have significant protection against funding strains. they tripled holdings of highly liquid assets. now 500 billion. which is signifying you have more than enough capital. can you rai

many times for even suggesting this but i i don't know if it's our narcissism, our arrogance, our hubris, judaism, nationalism. whatever reason we don't even as americans want to consider that we could be on edge, that we could be on the precipice, that we could be on the verge as doc said as imploding from that internal rot. and we take this, we take it head on the in the book. this whole notion of american exceptionalism. and there are so many of us who still believe that we are the biggest, we are the baddest, we are all that and then some because we are the united states of america. and the data just doesn't bear that out. one out of two americans is either in or near poverty. don't talk to me about american exceptionalism. i was reading an enchanting article the other day about president obama giving advice to the morgue confident on -- confit on the campaign trail, to be more, to express more enthusiasm about our future. you've got to be more reaganesque. to change the narrative. dr. west said earlier and i agree, when you love people you tell them the truth. what the american peop

about hubris and achievement. this is the study of how to think and how to choose and how to read, and you chose a place where you could learn the craft of how to advance a cause, a cause of larger than yourself. you chose sais because you understood that the credit belongs to the man in the arena who strives valiantly, who heirs, who come short again and again, because there is no effort without error in shortcoming, but who does actually strive to do the deeds. who knows great enthusiasms, agree devotions. who spends himself in a worthy cause. so i look forward to seeing you in the arena, and i wish you the very best. [applause] >> minnesota representative and former presidential -- republican presidential candidates addressed graduates. she is a graduate of regent university law school. she said as christians they should not shy away from problems in society. her speeches about 20 minutes. thank you. >> good morning, and for graduation's to everyone here today. -- and congratulations to everyone here today. reg

what a fabulous way to defuse the hubris of the left and these people lose again fashion themselves theopolists and overseers' of the new medium space. each and every one of you ought to be signed up on twitter or on twitchy. there is no such thing as being a self promoter in the blogosphere. this is a tactic that they leveled against governor palin and andrew breitbart and myself, but we realize that the only way you are part of this organic environment and climate is to know that it is, although we are each individually doing our own thing, this really is the greatest illustration of the big tent. we do not always agree on policies and candidates. some of us have very different passions stirred some of us focus on the second amendment. i'll remind you again led us to the expose of the fast and furious scandal. pro life bloggers, legal bloggers, sound science bloggers, we need each and everyone of you concentrating in order towin. and each in our own way to wage war. [applause] it is a privilege and an honor to fight alongside you. and the historical context of the development of conse

little bit hubris seemed to be there. >> he said something it would be his neck to choke if anything went wrong. >> the whole idea was let meadow everything and if i screw it up it's on me. interesting way to do it. >> it is. i know i said that but, you know -- >> it's nasdaq's fault. >> exactly. coming up, global market reaction to the greek election. why the worse fears might now have been alleviated. others could surface. webb simpson winning the u.s. open. fortunately i was there until about 9:15. 26-year-old claiming his first major championship. kind of cool, though. his wife is seven months pregnant and walks the whole course and saw every shot that he hit and he did not disappoint. furyk is solid. they shortened it up and he didn't hit the right drive on 16. but a lot fell. graeme mcdowell i thought he was going win. lee westwood who lost a ball up in a tree. great test. >> check entries. 150 balls fell out. 105. optionsxpress, where you can trade your favorite products, all in one account. keep watch on the markets. or use our exclusive tools to help find ideas. it's powerfu

i don't have that list in my memory, but what stands out is hubris, arrogance. how do you manage a company the size of data morgan and overcome that list of adjectives that you described are a natural occurrence with a large organization? >> they do occur in small organizations as well. >> you're not talking about the senate, are you? >> definitely not. not now. [laughter] i think all companies want to have great employees always open and challenging themselves and learning from their mistakes. our people are honest all the time and they share reports. hopefully we have fostered the right kind of. culture at j.p. of we believe we are in business to serve clients. that is a job number one. we do it every day around world in 2000 communities. we hope that our people believe that and it's in their hearts to do it every day the right way. we asked them to treat people the way you would treat your friends or your parents. we ask them that you see a problem, raise your hand and call the right people. we constantly have tried to improve our products and services. we tr

hubris stands out. how do you manage a company the size of j.p. morgan and overcome that list of adjectives that you described are just a natural occurrence within a large organization? >> they can occur in small organizations, too. >> you are not talking about the senate, surely? >> definitely not. not now. [laughter] look, i think all companies want to have great employees, that always analyze things, challenging yourself, learning from your mistakes. you share reports. i think there are ways you can avoid the negatives of being a big company. hopefully, we foster the right kind of culture at j.p. morgan. we believe we are in business to serve clients. that is job number one and we do it every day in 2000 communities all around the world. we hope our people believe that and it is in their hearts to do the right thing every day. we ask them to treat people the way you treat your friends or parents. if you see a problem, raise your hand and call the right people. we constantly try to improve our products and services. we lodge legitimate complaint

security, some of the things you want to do, but there is a negative to sites -- greed, arrogance, hubris, lack of attention to detail. but if you do a good job, clients are insured and you when your business. if we weren't doing some of these things for large, global american companies, somebody else would. that's all. they buy these services because they need them, not because we want them to buy them. we provide huge credit lines to them. >> you believe a highly complex institution is necessary and if you were not doing what you were doing, some other people some other place would be? you are also unsure whether dodd-frank has made the system safer at any level. if you were sitting on this side, what would you do to make our system safer than it is and still meet the needs of a global economy like we have? >> the biggest disappointment i had as we never actually sat down, republicans and democrats, businesses and had detailed conversations about what went wrong and what needs to be fixed, to focus on what needs to be fixed. we still haven't fixed the mortgage markets, which is critical

i don't have that list in my memory, but what stands out is hubris, arrogance. how do you manage a company the size of data morgan and overcome that list of adjectives that you described are a natural occurrence with a large organization? >> they do occur in small organizations as well. theou're not talking about senate, are you? >> definitely not. not now. [laughter] i think all companies want to have great employees always open and challenging themselves and learning from their mistakes. our people are honest all the time and they share reports. hopefully we have fostered the right kind of. culture at j.p. of we believe we are in business to serve clients. that is a job number one. we do it every day around world in 2000 communities. we hope that our people believe that and it's in their hearts to do it every day the right way. we asked them to treat people the way you would treat your friends or your parents. we ask them that you see a problem, raise your hand and call the right people. we constantly have tried to improve our products and services. we tried t

what a fabulous way to defuse the hubris of the left and these people lose again fashion themselves the monopolists and overseers' of the new medium space. easton everyone of you ought to be signed ouup on twitter or on twitchy. there is no such thing as being a self promoter in the blogosphere. this is a tactic that they leveled against governor palin and andrew bright bart and myself, but we realize that the only way you are part of this organic environment and climate is to know that it is, although we are each individually doing our own thing, this really is the greatest illustration of the big tent. we do not always agree on policies and candidates. some of us have very different passions stirred some of us focus on the second amendment. i'll remind you again led us to the expose of the fast and furious scandal. pro life bloggers, legal bloggers, sound science bloggers, we need each and everyone of you concentrating in order towin. and each in our own way to wage war. [applause] it is a privilege and an honor to fight alongside you. and the historical context of the development of

conflict among nations, about incentives and human behavior, about why nations fail and prosper, about hubris and achievement. this is the study of how to think and how to choose and how to lead. and you chose the place where you could learn the craft of how to advance a cause, a cause larger than yourself. you chose sais because you understood to complete teddy roosevelt's quote, that the credit belongs to the man in the arena who strives value -- valiantly, who errs, who comes short again and again because there is no effort without error and shortcoming, but who does actually strive to do the deeds, who knows great enthusiasms, the great devotions, who spends himself in a worthy cause. so i look forward to seeing you in the arena, and i wish you the very best. [applause] [applause] >> another commencement address now. this next one with minnesota representative and former republican presidential candidate michele bachmann. she recently addressed graduates at theregent university in virginia beach, virginia. representative bachmann is an alum of the regent university law school, and she tol