>> when i.b.m. was making this great announcement for dubuque they were also laying off 5,000 people in the united states and those jobs went overseas. so when i.b.m. get this is thing up and running, are those jobs going to get pulled out and sent overseas? and if they are, that's going to be a hell of a void to fill in dubuque. >> reporter: bill hamme shr *rbgs a retired fighter and former city councilman. he's worried an incentive package may be too high a price to bring i.b.m. to town. >> if i.b.m. were going to stay here it would be great. but it seems like it costs an awful lot of money. they're not hiring that many dubuqueers. >> reporter: why did i.b.m. get such a special deal and was it worth it? >> i think it was what we had to do to compete with other communities that were trying to lure i.b.m. at the end of this year, we're going to have 1,300 i.b.m. employees in the city with an annual total payroll of about $60 million. turning over in our community the rest raublts downtown, the housi

john deere, caterpillar, ford, i.b.m., you name it, every large company, they hedged on their exposure. the airlines hedge it on aviation fuel. a lot of your international companies that do business overseas, they have currency hedges. i don't see why you have to have a gatekeeper at one of the four largest financial firms. that is what we have done in this bill. we fixed things that weren't a problem. we have had company after company after company that has come to us -- and this is a lot of the lobbying. but they have cooe to us and said this is going to cost us jobs. car guile -- cargyle said it is going to cost us 400 jobs in omaha alone. we have been doing this and doing it safely. now there needs to be disclosure and transparency, and with a lot of them, they need to be traded now. your other question was with banks. should she be able to do this? they should be able to speculate on their own account. they shouldn't be able to use the people's money or go to the discount window. if you have a federally insured bank where the deposits are being guaranteed by really the insurance f

this has gone over except for maybe an i.b.m. or whatever.there's no silicon valley in america anymore. the large corporations one likes to allude to and talk about the miracle, they don't have central resources. they don't carry the overhead anymore so when someone says let the private sector do it there's no private sector left. so there's individuals like me starting up companies and ideas. and i'm, frankly, going overseas to get money because i can't get it in america. we can't even get a hearing. host: where are you going overseas to get the money? caller: european nations. china is where some of my connections have gone. i'm trying not to go there. europe has a much higher effort. that's where the new high -- in switzerland. i'm going specifically to switzerland. i think the issue is if america wants to win the nano technology war, and if we give into this and let the asians take over semiconductors which they're presently doing, and it will spill into energy, we are going to regret the day. so what my frustration is, i believe the powe

shortly after obama care became law, a number of companies, i.b.m. was among the companies, caterpillar. i can name several ores that would be recognized i guess by everybody in the chamber as fortune 500 companies, companies that employ a lot of people, companies who have a lot of retirees who were promised that they would have a health care benefit if they retired at age 50, they could rely on that company providing them health care until they became eligible for medicare, and then i guess it would become secondary to medicare. but what a great benefit. but after all, when you work for a company, i guess a lot of people don't do that today, madam speaker, but if you spend 25 to 30 years, five days a week, 365 days a year being loyal to that company, you've earned it. it's not a gift. it's something you've earned. and when medicare part d was passed, a lot of concern on the part of the federal government that these companies would just say, well, ok, we'll just drop the coverage for our retirees and, you know, they can -- when they get eligible age-

this has gone over except for maybe an i.b.m. or whatever. there's no silicon valley in america anymore. the large corporaons one likes to allude to and talk about the miracle, they don't have entral resources. they don't carry the overhead anymore so whe someone says let the private sector do it thre's no private sector left. so there's individuals like me starting up companies and deas. and i'm, frankly, going overseas to get money because i can't get it in america. we can't even et a hearing. host: where are you going overseas to get the money? caller: european nations. china is where some of my connections have gone. i'm trying not to go thre. europe has a much higher effort. that's where the new high -- in switzerland. i'm going specifically to switzerland. i think the issue is if america wants to win the nano technology war, and if we give into this and let the asians take over semiconductors which they're presently doing, and it will spill into energy, we are going to regret the day. sowhat my frustration is, i believe the powers of ou