are the financial incentives for the private hospitals in america the median length of stay for those patients quadrupled to fourteen days and hospital revenue averaged thirty thousand five hundred dollars more than for patients without complications forty nine thousand four hundred vs eighteen thousand nine hundred. dr insurers paid far more for complications than did medicare or medicaid or patients who paid out of pocket so medicare and medicaid are the equivalent of the n.h.s. essentially here and that the government is paying but in america medicaid or medicare refuse to pay the hospital or the doctor if they accidently take out somebody kidney that they won't pay them at all but just as an incentive demand the patients and that's coming to britain this coming to the n.h.s. in the form of the privatization of the national health service but you know if he takes so many kidney out by mistake or you ma'am a patient as long as you've got a manchester united game on t.v. they don't care the game a free game a pint of beer and a manchester united game and you can take their legs they

are the financial incentives for the private hospitals in america the median length of stay for those patients quadrupled to fourteen days and hospital revenue averaged thirty thousand five hundred dollars more than for patients without complications forty nine thousand four hundred vs eighteen thousand nine hundred. insurers paid far more for complications than did medicare or medicaid or patients who paid out of pocket so medicare and medicaid are the equivalent of the n.h.s. essentially here and that the government is paying but in america medicaid or medicare refuse to pay the hospital or the doctor if they accidently take out somebody kidney they won't pay them at all but there's an incentive to maim the patient and that's coming to britain this coming to the n.h.s. in the form of the privatization of the national health service but if he takes so many kidney by mistake or you maim a patient as long as you've got a manchester united game on t.v. they don't care if you game a free game a pint of beer and a manchester united game and you can take their legs they want to. go live fo

there is not a lot of incentive to change something. if you are doing something and are not going to jail are going to get in trouble for it, in my opinion by talking to people about it internally you will not have an impact. i think this problem is as big as politicians and regulators not understanding the broader problem. alternately i decided i was going to leave. i did not think there would be merit in trying to say something publicly -- i did think there would be merit in trying to say something publicly, not to destroy profitability on wall street but maybe restored to a more stable fashion. giving you an example for the business school students. look at, is a short-term greediness actually good for goldman sachs's business or jpmorgan's business? i would say i do not think it is good for the business. look at how the stock market values banking stocks. banking stocks are valued at below liquidation value. even the markets does not like this model where there is no predict ability, no sustainability, no long-term orientation. look

so there wouldn't be incentive to engage in conflict. more than that there would be a very important incentive to cooperate. when presidents reach the white house, they're at the top of the political ladder. at that point, the primary concern is the legacy. how are they going to go down in the history books? and george w. bush's decision to invade iraq -- when he went in to depose saddam hussein. one of the reasons for this decisions is that he was influenced by the potential for introducing democratic governance to the arab middle east. if we could set up a democratic government in iraq it would be a model for other countries, and george w. bush's legacy would be transforming a major region of the world. even though, remember during the campaign, he said we shouldn't be engauged in nation-building, but when huh thought about his legacy he was willing to do that. you read the promise, the account of the first year of the obama administration, he talked about the decision, should be do health care or not? and obama'sed a sliders saying do

to commit fraud they want to give doctors will scalpels incentives. to commit murder you know the pain by the head pain by the scalp pain by the bust of kidney so this is where the economy is going because there is no organic growth there are actual generic kind of organic growth of the economy from manufacturing from jobs or anything like that it's all about death destruction drug dealing like h.s.b.c. or any of these other banks well of course it's a problem of how people how we as a condom use calculate g.d.p. this is a booster it's triple the cost so it's triple the g.d.p. this is a three times more productive this doctor has become by messing up the scene in the movie lincoln by steven spielberg movie member at the end of the film there's a scene where they bring out a wheelbarrow full of limbs that have been severed in the military hospital and is used as a hospital was a metaphor but here they'll bring out limbs of but the limbs that they've cut off by mistake is like george upwards yeah our g.d.p. is it is going for your work putting people's

incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when these firms became public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatized firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bank had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repealed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we would have had this scandal as bad. the financial crisis could have still occurred, but i do not thin

more than that, there would be a very important incentive to cooperate. when presidents reach the whitehouse, they are at the top of the political ladder. at that point, the primary concern is their legacy. how are they going to go down in the history books? george w. bush's decision to invade iraq was illustrative when he opposed saddam hussein. there were a number of reasons for his decision but one of the accounts and a very important one which was he was influenced by the potential for introducing democratic governance to the arab middle east. if we could set up the democratic government in iraq it would be a model for other countries. george w. bush's legacy would be transforming a major region of the world. .. >> for greatness he needed health care. the goal that eluded presidents for a century. well, two members of his coalition presidency spent their terms locking horns. they wouldn't be able to have the kind of achievements, establish the kind of record that would have an important legacy for the ages. so that's why i think they would work out. i

do they need incentives? mandates? >> that's a good question. i think it starts with information. people think that new buildings are earthquake proof and don't understand the performance the building will have so we want a transparent of letting people know is my building going to be safe in it after an earthquake? is my building so dangers i should be afraid of being injured? so developing a ranking system for buildings would be very important and i think for some of the larger apartment buildings that are soft story we need a mandatory program to fix the buildings, not over night and not without financial help or incentive, but a phased program over time that is reasonable so we can fix those buildings, and for the smaller soft story buildings and especially in san francisco and the houses over garages we need information and incentives and coaxing the people along and each of the owners want their house to be safe enough. >> we want the system and not just mandate everybody. >> that's right. >> i hear about people talking about this concept of resiliency. as you're fixing your

he's trying to play to their incentive. i should point out it was interesting to me the president's dinner efforts -- 13 of the 16 republicans who crossed over to break the filibuster have had dinner with the president recently. i'm not saying they're connected. but his identification of what he calls the common sense caucus, he might be doing the right thing in trying to bring those senators in and trying to find a way to then apply pressure to the house. so the politics of, the style of it, and this idea of anger in your left flank. the white house was a little concerned that that might backfire if this progressed as anywhere seriously. you can push it so far. obviously, the president is doing a lot of fundraising for democratic candidates and we're seeing folks on his left saying we're going to primary these folks. if you vote with the president on social security cuts or medicare cuts, we are going to rebel against you. and then you can see on the right there's also this concern too. >> alexis, i'm interested in the rol

inside of the country or its special government structure or a company so there's kind of an incentive to commit fraud some how do you talk about you talk about you know possibly committing fraud some how you talk about in the center for not perhaps balancing the books i mean the british virgin islands where the leaks are coming from are administered by britain and e.u. member why is london not bound by block law to crack down on this sort of tax avoidance and really are running low on time so please. i guess i guess kind of that they are but they may not have an. incentive to hold all of the loss correctly all of the time and it also is a question of resources inside of public institutions and very often public institutions have resources allocated to performing a certain task which may not actually be sufficient proportionate to the task that they're doing and in the case of the london financial industry i mean don't just figure they did another financial industries and this is proven very advantageous for london is in region which is experiencing a very fast growth rate so. that we

lower taxes, new incentives, new jobs, now that's news. to grow or start your business in the new new york visit thenewny.com >>> welcome back to "the lead". i'm jake tapper. the national lead, you've heard it time and again, enforce the laws on the book. we'll show you how hard that really is. the pop culture lead. it was the most important phone call since alexander graham bell. and the sports lead. no matter who is still in your bracket, one player everybody is rooting for. kevinwa ware talks to cnn after one of the most horrifying injuries in recent memory on the court. we begin with national news. right now president obama is meeting with denver police officers as he brings his push to colorado. the president will speak in the next hour, not far from the aurora shooting site. since then they have passed a number of universal gun laws and restrictions on magazine sizes. the president would love to see bills like that sitting on his own desk, along with a ban on some time of semiautomatic rifles. when the senate begins its debate later

take away the financial incentive that caused this?d thing, that is how the private sector works. you get a bonus for results, that would seem like a good idea in this case. >> i have no problem offering incentives for people to do better and work harder. this gives a sense of automation certainly and obviously helps financially, but if in fact true like you said that only should they be fired, they need to talk to and review of the incentive program and they need to go to jail. we will see how the union comes down if they will step up and fight with the teachers or if they will say these teachers are wrong and side with by doing the right thing, that is so critically important in these cases. melissa: thanks to both of you for coming on, very interesting discussion. we appreciate it. up next, motley crue is back. the legendary rock band is taking vegas by storm. making money in music is harder than ever. what is ahead for the future of the business? vince neil of motley crue joins us. at the end of the day, it is all about music. ♪ ♪

lower taxes, new incentives, new jobs, now that's news. to grow or start your business in the new new york visit thenewny.com by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. her long day of pick ups and drop offs begins with arthritis pain... and a choice. take up to 6 tylenol in a day or just 2 aleve for all day relief. all aboard. ♪ . >>> have you joined the "politicsnation" conversation on facebook yet? and people share their thoughts and memories of martin luther king jr. on the 45th anniversary of his assassination. nicole says, "his spirit still lives on in our world today." bryan says, "i try to honor him in how i vote and by confronting discrimination and bias and hatred." annye says, "i'm still praying that his dream comes true." coming up later in the show, i'll talk to dr. king's son and hear how we are fighting and honoring his father's dream. but first we want you to share wha

obviously the fee for service incentives can get in the way of that. but it's also the failure of traditional medicare to really provide structure incentives that encourage coordination across the continuum of care, doctor to doctor, doctor to hospital. medicare is not unique in this but medicare could take more of a leading role in trying to resolve a problem that's a very difficult issue. in the end, i think what we need is health plans, whether it's medicare or other plans, that focus on this and i think that's going to be driven by the inevitable pressures we're seeing, the financial pressures on he medical sector, and the growing awareness of younger people that they can be served better -- in fact the internet isn't such a bad thing. they find out things, sometimes it's right. but younger people, unlike my mother, younger people know that things could be better, and are willing to speak up. >> we have time for one final question, and the woman with her hand up right there. >> hi. my question comes directly from my affiliation as a foreign nationa

lower taxes, new incentives, new jobs, now that's news.ow or start your business in the new new york visit thenewny.com ♪ dagen: time to make money with, who, charles payne. charles: triple the mexican grill. over the last several months, the stock fell 170 points from its 52 week high. two quarters in a row they missed the strip. the stock was ahead of itself. i think it is looking pretty good now. beginning to edge up a little bit. this is one of those names. it is not at a 52 week high. i think it is oversold. it is one i think people should consider. connell: simple math. charles: the family likes it a lot more than i do. i like that toggle from taco bell. that is apples and oranges. dagen: that is the competition right there. charles: it seems like there is wealthier more educated people that eat at chipolte. connell: if you stay in school longer, it tells you what kind of tv you will watch. charles: you will watch pbs instead of espn? connell: i guess. dagen: or you watch more tv. charles: now you have definitely piqued my curiosity.

money is one of the incentives to commit crime but not only the incentive.s ego stature, a other reasons besides money. melissa: what if you made the point really if you fine some one or a firm for insider trading that is like a tax as opposed to really going to jail? >> i don't think that is the perception these days. the reality if you get prosecuted and conviction you might as well consider yourself out of the industry and it could be a career. melissa: so the penalty is high enough? >> the penalty is very, very high. there is function of so much information trading hands and sometimes we don't know the materiality of the information we're exchange or acting upon. melissa: you disagree? >> i disagree. in this case the government hazard hard on for insider trading firms. melissa: i'm not sure you can say that. >> big banks on wall street, couldn't prosecute a ham sandwich sold as kosher beef. we have the model. melissa: -- good joke. >> we have thing that big bank sisters a immune from prosecution. they decriminalize white-collar crime for wall street bank

are the financial incentives for the private hospitals in america the median length of stay for those patients quadrupled to fourteen days and hospital revenue averaged thirty thousand five hundred dollars more than for patients without complications forty nine thousand four hundred vs eighteen thousand nine hundred. private insurers paid far more for complications than did medicare or medicaid or patients who paid out of pocket so medicare and medicaid are the equivalent of the n.h.s. essentially here and that the government is paying but in america medicaid or medicare refuse to pay the hospital or the doctor if they accidently take out somebody kidney they won't pay them at all but there's an incentive to maim the patients and that's coming to britain this coming to the n.h.s. in the form of the privatisation of the national health service but you know if we take so many kidney a mistake or you maim a patient as long as you've got a manchester united game on t.v. they don't care i'm a free pint of beer and the manchester united game and you can take their legs they would give if th

it's an incentive to get them moving in that direction. a big incentive. $250 a day since december? >> no. the $250 wouldn't be occurring until the final decision. if they file the procedure, they have zero liability and still have to face liability in the future. >> okay. i don't know where it was going to go. but the, i'm still not accept ing of that position and i don't think that section e there applies. >> i think that while i may have some questions in my mind i can't say with certainty that the zoning administrator abused his discretion because this is legislation that planning department has implementing. so that's where i'm going with that. >> i don't think he abused his position. i think he ---erred though. >> okay. >> i will make a motion. i'm going to move that we grant the appeal and over turn the za's decision on the basis that the appellant's use is a conforming use and is not a non-conforming use that triggers the requirement that is indicated. >> we have a motion then from commissioner fong to over rule this notice of violation in penalty with these findings as read

there is even little incentive for moderate democrats. so my question is, is he leading democrats to the lawsuit isser in 2014? >> that was a very depressing framing of the question. >> i think what you describe is why we're stuck in this gridlock. as you said, his numbers are sagging. and because the republicans have the ability to hold up anything he wants to do, he kind of carries the blame and remains stuck on the hook for an economy that is stagnant, even though he doesn't have a chance to even implement his ideas. so it is very, it is very tough, this is what makes me pine for a parliamentary system. at least when the president wins, he would get to enact what he wants to do and voters can decide four years later what they think of the results. when you win election, it is the beginning of another set of endless battles. you have no chance to implement the general that you want to do. it is a big problem. >> you can't get anything done with divided congress. >>> next, new fallout in the rutgers basketball scandal. [ male announcer ]

of cases around the world price fixing is something which occurs in all industries and given the incentives in finance to manipulate prices it's hardly surprising that's a could but that should be prosecuted under existing laws because those are crimes market manipulation offenses that should the question to my mind is will they be prosecuted. that the japan is about to enter into a horrific consequence of their mismanagement other economy how do we know if that's going to happen how do we know that's true if we can't rely on the price in other words if the price is broken as you've just described it in we have no way of knowing therefore that the economy is broken because there is no way to judge that the economy is broken we just have. a corrupt cartel in place that is making money available cheaply to speculators who then in turn use that money to destroy the price signal by just keeping the price of these futures markets completely under their thumb so how do we know it's broken if we don't get a good price like gold dust. well i think fundamentally the real issue is going to be what ha

and so the incentive for disclosure are not terribly good. and so i'm hopeful about the role of transparency. >> other examples, walking into -- i'm assuming when you tonged about the car dealership getting all this information, that you're saying the physical car dealer, when you walk in, know what you're doing online through the web site. to what extent is it transparentty -- you don't know they know you've been on their web site. if they say to you we know you were on the web last week and you like that red model. a., it might not work. but does that solve your problem or does transparency not get you there? >> this isn't about, because you're online or digital. kind of it is. i think what changed the way web browsers have been censored, and third-parties that you don't have interaction with being able to record and monitor your activities gives rise to a larger number -- a larger amount of data available about you to be used for these purposes. one of which is, for example, when you visit cars.com, a third party you are not aware of and d

in finance now this is going to change if you've got a young blokes who basically have huge incentives in a bonus sense to manipulate numbers where they think they can get away with it and the fundamental thing is these rules are very very vague they're not policed in any way and that's going to be a huge problem but i think it'll be interesting to see how this plays out because the f.t.c. will undoubtedly be joined by other regulators around the world yeah well once again the price signal completely destroyed all right asada time thanks so much for being on the kaiser report good to be with you max that's going to do it for this edition of the kaiser report with me max kaiser and stacey arutt hours on my desk dots. author of extreme money if you like to send us an email please do so at kaiser reported r t t v are you until next time ask. download the official publication yourself choose your language stream quality and enjoy your favorite. if you're away from your television just doesn't matter now with your mobile device you can watch on t.v. anytime anywhere. they all see themselves

all of these incentives will improve care and focus on quality. the aggregation of this is $300 billion in net medicare savings, inclusive of the low income protections that i mentioned to you as well as the reforming the scr physician payment forms. so that is net $300 billion in a significant contribution. significantly enhanced and improved health care delivery system that works in the beneficiaries. i would like to talk to more about that, but my time is up. thank you. >> well, thank you so much. i suspect you will have a few more bites of the sample before this session is over. i happen to notice this sitting here, preserving medicare for future generations, medicare approaches to reform. preserving medicare does not mean keeping it and changed. in fact, to preserve medicare change is inevitable. it would be better if it were something we want to do. i think the critical element here is to perform the program in a way that changes the incentives that face both consumers or patients and health care providers. the i think a good question is whe

for the work for move this forward but from my perspective the first version created the wrong incentives for investments and i want to thank all of the tenant organizations and leaders who worked with my office and with others, to help move forward, the version that we have in the committee today. i think that the version that we have in front of us really not only helps to protect our san francisco owners and help to address the plate of tic owners who have been stuck in the system without creating additional incentives for future real estate speculations that i don't think that anyone thinks has been good within this market. so, with that, i obviously do support the version that we introduced last week. i do understand that there are ongoing conversations between the organization and supervisor ferril's office and look forward about whether those conversations lead to any additional information or changes, but at this point, i am very supportive of the version that we have in front of us and hope to move it out to hit the full board on may 7th. >> thank you, supervisor campos. >> thank

of cases around the world price fixing is something which occurs in all industries and given the incentives in finance to manipulate prices it's hardly surprising that's a could but that should be prosecuted under existing laws because those are crimes market manipulation offenses that should be the question to my mind is will they be prosecuted will you say that the japan is about. or if it consequence of their mismanagement other economy how do we know if that's going to happen how do we know that's true if we can't rely on the price in other words if the price is broken as you've just described it in we have no way of knowing therefore that the economy is broken because there's no way to judge that the economy is broken we just have a corrupt card. tell in place that is making money available cheaply to speculators who then in turn use that money to destroy the price signal by just keeping the price of these futures markets completely under their thumb so how do we know it's broken if we don't get a good price like gold dust. well i think fundamentally the real issue is going to be what

, you have to consider incentives. the incentives that were given to boeing will return to tenfold in employment and jobs and revenue. that is important, and i mam am supportive- i of incentives. we will have that discussion later. >> a few seconds, if you would like to respond now. well, we have had a series of different forums and debates, and we had a lengthy conversation. i see jonathan here, one of the different contestants and that, and what we talked about is where we stood on reports if the structure, and i think was little in way of exception, all of us were supportive. i had conversations with people at the harbor pilot about the issue of port deepening. is something i believe in because it is part of the life flowed to make sure that trade comes in and out come economic development across the state as a whole. governor sanford, let's talk about incentives of a different kind, as the survey, incentives that representatives of the house and senate receive. our structure in that area seems screwed up. special i

lower taxes, new incentives, new jobs, now that's news.o grow or start your business in the new new york visit thenewny.com >>> welcome back. the head basketball coach at rutgers' university is out. and even he admits there is no excuse for his behavior. mike rice was fired today after this espn video went viral, showing him physically and verbally abusing players during practices. in a moment, you'll hear exactly what he said to some of them. the video is obviously shocking. tonight many are asking why wasn't rice fired months ago when at least one of his bosses first saw that video back in november. the question is what happened then. rice was given a three-game suspension, a $75,000 fine and a ticket to anger management classes. that was before the rest of the world saw the video. here is mary snow. >> reporter: one day after this video went viral -- >> get over there you [ bleep ]! >> reporter: rutgers' basketball coach, mike rice, was fired. but there are calls for the university to do more. rutgers' officials were aware of its existe

so there is a very perverse incentive for the worst actors to actually want to have the most voice at the un because a protect them, and then they create a little protection racket for them and their friends. >> host: in your book, "living the un," you write that the u.s. should seek a buyout of the ua networks and containment of the un. what to you mean? >> guest: what i mean by that is the general assembly and its tendencies by and large are high style to the united states, wasteful, will basically seat in the resource there is an attempt to use them in ways that are either wasteful or wicked. but there are members of particular institutions of the un, cause i independent bodies that in one sense you could say our branded by the un. they generally speaking have budgets which receive a little bit of funding from the main un budget, but by and large is voluntarily funded by governments that look at what they're doing, like what they're doing, and volunteer to pay for it. the u.s. has a long pattern of trying to look for the ones that work best on this. and in effect, in this book and

lower taxes, new incentives, new jobs, now that's news.o grow or start your business in the new new york visit thenewny.com nehey!r! [squeals] ♪ [ewh!] [baby crying] the great thing about a subaru is you don't have to put up with that new car smell for long. introducing the versatile, all-new subaru forester. love. >>> john kerry, defense secretary chuck hagel and congressman patrick murphy have announced they will be giving up 5% of their income, of their paychecks, to draw attention to federal employees who will be losing part of their incomes because of the sequester. so far, no republican in the house or the senate has been willing to give up a penny of his or her government paycheck. ? by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. her long day of pick ups and drop offs begins with arthritis pain... and a choice. take up to 6 tylenol in a day or just 2 aleve for all day relief. all a

. >> first law of economics is that incentives matter. we have to give the beneficiaries to be frugal and b to stay out of the harm's way . part of that plan is vouchers and another big part paying them to live elsewhee. >> mike, incentives matter? >> what type of encentives, move to kansas where they are hit by tornado? i don't think the government should be involved in reimbursing people for loss of personal property when it is not the government's fault. going back to katrina that was a complete debacle . keep the government out of it. >> morgan, the government shouldn't be in it at all? >> no, there are reasons why in theory that the government proposes to relocate people have these rules in place makes sense. in reality you need to build the homes, where are you going to move those people? and we have a lotf homeowners are under water and will not be able to rebuild. >> you want to rebuild them in another place? >> i have to say something to mike's poign. sandy is not a debacle and worth noting that the current administration has don

lower taxes, new incentives, new jo, now that's news.your business in the new new york visit thenewny.com how old is the oldest person you've known? we gave people a sticker and had ththem show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to joy all of these years. ♪ gerri: a court ruling today made stocks in california the most popular city in the nation to enter bankruptcy. bankruptcy will likely allow the city to avoid repaying its debts in full. for more on this, bring in lou dobbss, host of lou dobbs tonight. lou, does the story just drive you over the edge? >> well, it's plenty frustrating, but imagine, what, if you lived in stockton, california right now. the federal judge today ruling on just about everything except where does calpers fit in, the california workers retirement program. it's a city so mismanaged

lower taxes, new incentives, new jobs, now that's news. or start your business in the new new york visit thenewny.com gerri: well, it seems carnival cruise line is cursed. reports from alabama, the triumphant broke loose from its mooring. under going repairs related to the disastrous trip in february. engine room fire knocked out the ship's power and plumbing for four days standing 3,000 passengers. one person has been reported missing. unbelievable. the beat still want. a slew of scandal brewing. students and taxpayers are the ones stuck putting the bill, take exit eight come a radical list and former jailbird spent 22 years in the slammer for an armed car robbery that left to cops said. she now holds a prestigious teaching dig at columbia university. and their is a shocking new video of the rutgers basketball coach shown hurling basketball's the players' heads and on the names the personal accounts the on-air. joining me now, small-business experts and attorney jeremy spencer. welcome back to the show. what do you make of this professor?

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lower taxes, new incentives, new jobs, now that's news.r start your business in the new new york visit thenewny.com liz: and as we just broke this news to you, dow component hewlett-packard making a major change at the top. ray lane is stepping down as chairman of hewlett-packard. ralph whitworth is to be chairman while hewlett-packard looks to fill the job. now at the moment the stock is not shocked by this. look just a couple weeks ago there was apparently a two-hour meeting with hewlett-packard chairman ray lane and other directors. there was an investment group called ctw. part of the labor group, change to win, looking for hewlett-packard to remove ray lane and couple longstanding members who they felt were not helping the stock. the stock has actually looked pretty good, over the past, what would you say ashley? six to eight months? ashley: i would say that. this is very interesting. we got news of this five or six minutes ago but the stock really not reacting which is interesting in itself at this stage. liz: so far as we know meg w

incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when the firms bece public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatized firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bk had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repeed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we would have had this scandal as bad. the financial crisis could have still occurred, but i do not think would