these are institutions currently used by the city. in many cases, these private banks to offer some community- supported services as part of their business. not a requirement, but most large banks, particularly, have some sort of community- supportive activity. second, credit unions, non- profit organizations, cooperatives, owned and operated by their members. they provide the same services as larger banks but on a smaller scale generally. third is community development financial institutions. a major component of this being community development banks, which operate as bank but have a primary mission of serving communities that are traditionally underserved by financial institutions. to become a community development financial institutions such as a community development bank, one need to have status confirmed by the u.s. office of treasury. certain criteria that has to be met, and funds in these institutions have to be used for certain purposes and the community needs before they are classified as a community development financial i

and see which institution can best meet those needs. again, within the parameters of safety, liquidity, and yield, which we do not think needs to be a major barrier. i guess this city of oakland recently moved its funds, and the city of san jose recently, through the great work of the pico network, so there's a lot of stuff happening. different communities may disagree as to who is better to serve their -- better able to serve their needs, but the thing to do is to begin the process and to identify -- i had a list of things the city could look at. it was very much like the list that was on the fly -- on the slide four invest in boston. there's a lot of harm being imposed on people by financial institutions, with for closure being a strong example, but even fees that are being charged for people better low-income, because they're using their debit cards, because they have the audacity to want to have the bank account with the financial institution, and some of these harms of being opposed by the financial institutions that the city and c

for those of you who do not know, the green lighting institute is a national policy institute working for racial and economic justice. they are well known by the financial industry for their aggressive pursuit of the community responsibility act. they are experts and running grass-roots networks to hold financial institutions accountable to the many responsibilities that we share with the communities we serve. so with that, we are at the beginning of this process. i am grateful to you, supervisor, for bringing more attention to this topic. together, we can dialogue and have a good conversation about what kinds of opportunities this banking rfp can have come in if we can then present goals, missions, and different outcomes, to the different various financial institutions looking at the city and considering bidding for our services. that is very exciting. it is a great opportunity. we must also consider that we have to do this hand in hand, at the same time, making sure we are safeguarding these millions of dollars of financial tracks -- transactions which occur every year, making sure

be impressed with the dole institute. all events are open to the public and conform to the institute's mission of expanding the dialogue. on behalf of the university and on behalf of the dole institute, i want to thank you for your generous support. it is also possible because of the generous personal contributions of the doles themselves. of all the events i have been too, one of the most inspiring is the annual swearing in of new citizens. i make sure that whatever is going on, i get to that event. i had the opportunity to attend this events each year since becoming chancellor. it is truly fitting that the newest citizens of our nation take their oath of citizenship at an institute built by and in honor of someone who devoted his life to defending and serving this nation. in recognition of that service, i want to personally solicit a man whose leadership has changed this country, has changed, as live, senator bob dole. -- countless lives, senator bob dole. [applause] >> ladies and gentlemen, please welcome senator pat r

to the state and municipal the institutions. the way we would hope to do it in absolute and complete agreement with the federal government of mexico which controls and decides everything that we do in mexico by way of support and assistance is to focus initially on three northern states of mexico which just happen to comprise much of our southwestern border as well and focus on their state and municipal police, follow the mexican government's system of creating what thecall model police units which is of about 422 police officers from each of the 32tates trained to a common standard equipped to a common standard with vehicles that are of a common standard so that the federal government knows exactly what it is working with if this unit deploys the end to train enough hem to be able to address these issues when the police and law enforcement are able to do their job that i predict we would see less military involved in law enforcement which in any country in the world and putting our own is not the mission that they are trained o

a secondary institution it rives its authority from the informed consent of we need to people it's why our founding document the us constitution our basic law starts with the words we the people and if you look at people like thomas jefferson two term president third president the united states he said on the altar of. god i pledge undying hostility to any government restriction on the free minds of the people the free minds of the people were supposed to be the bedrock of democracy and now reminds of the people who have the internet so they can see what's going on around the world they can hear from the people protesting in egypt and other countries and we start to realize wait a minute this is not a us problem this is an international problem it's a global problem we're either going to have it leak globalization it's about guns and money or we're going to have people's globalization that will be about social justice saving the environment those are two very different agendas and i think that's why you see if you look at the press in the united states and the media in the united state

institutions into marketable pieces. part of the planning process is to get them to a separate legal subsidiaries that can be sold up in marketable pieces appeared for lurch and become another strategy is to recapitalize that. one of the ways you can do that is by converting some piece of the unsecured debt into an equity position. but that is another thing we've been in robust discussions and there's a lot of issues there in the report. that's another strategy is very actively considered at the fdic and they will be presenting similar papers and roundtables on that subject because it really is important for the market to understand the kinds of tools that can be available and would be used in that situation. and again, we are going to entity to fail unless the market itself is convinced that you know your money's address and you invest in large financial institutions, government will not bail you out anymore. before you invest, each kick the tires come as he was on the balance sheet and what kind of management they have

institutions into marketable pieces. part of the planning process is to get them to a separate legal subsidiaries that can be sold up in marketable pieces appeared for lurch and become another strategy is to recapitalize that. one of the ways you can do that is by converting some piece of the unsecured debt into an equity position. but that is another thing we've been in robust discussions and there's a lot of issues there in the report. that's another strategy is very actively considered at the fdic and they will be presenting similar papers and roundtables on that subject because it really is important for the market to understand the kinds of tools that can be available and would be used in that situation. and again, we are going to entity to fail unless the market itself is convinced that you know your money's address and you invest in large financial institutions, government will not bail you out anymore. before you invest, each kick the tires come as he was on the balance sheet and what kind of management they have

it is important that we have the institutions, i want to say something for the institution. i want to thank them for their help with this. and an approach that works well with everyone. i want to encourage all of those players to keep talking. i not want everyone to think that the work is done. we have to stay on this. when we have the effects of many years, with the initiative to get more bike riders on the part. i get this and i am good with us. in terms of implementation, these institutions have access to thousands of members that could really be very helpful in crafting the message. we all think that this is a good idea and know how to deal with this. i want to work closely with the membership department of the academy. and lastly, i would also respectfully request that we do honor this request and i am certain that the academy feels the same way. and moving as to a time that is not so impact fall, because this, at a minimum, is something that we could do. i intend to support this. >> my feeling is that you would see the implementation started after the holidays. we will

russian authors and all the russian institutions linguistic institutions what currently involved in promoting transliterate recently will couple minutes ago when talking about the future of books he said that that that that lies and to roots because it's a piece of art and because it's business when selecting the books that should be translated what's your main principle and so i think is it is it business or it or is it there to stick quality. or both both both sometimes it's difficult but you know if you ask me as they represent of the russian you know governmental office i would say i would like to set up a direct communication between russian publishers and foreign publishers and set up you know a business route of it if you're talking to me or see a humanitarian or the person who was in the publishing business for twenty years and then. been a reader and admirer of literature as well as. the organizer of the biggest russian literary warton right in here. i would say. about art. well actually russia was this year's market focus country at the london book fair spotlight the me there has mo

i have seen it in my own institution. i am nostalgic for the days when we wanted to do everything well. >> what do you think of billions of dollars that goes from the taxpayer through the federal government to all of these research universities? >> first of all, there is a lot of press who decries the amount of research that universities do. the reality is that the overwhelming majority of faculty members in united states are devoted almost exclusively to teaching. 10% of the universities of in united states have major research commitments. some of them are large institutions. it is only about 10%. many faculty members teach full-time. that is all they do. the system as a whole depends upon the research that a limited number of people do that keeps the disciplines current, that correct historical errors. i have seen so many historical errors corrected in my own discipline. i now know that i will never know the field and completely. it is reborn and rediscovered. new documents are discovered. you need new research to fill

of standing up against these big financial institutions they crashed the economy with a lot of crazy instruments based on real estate they created a real estate bubble burst they got bailed out by the federal government trillions of dollars and then they get when they got bailed out they didn't lend them they're not lending the money to us there are all sorts of really good companies that can't get loans now and can't get the economy going again the money is all concentrated in the top one percent of the population and that's why the movement has taken this ninety nine percent slogan as one of their key slogans we're are the majority it's supposed to be a democracy but money is what rules washington we see it even with iraq obama a liberal democrat wall street has control of his policies people are fed up with it. well it seems to me that in the twenty first century the world is going to i mean it's so op side down all the former socialist countries all the eastern bloc countries including russia they want their building capitalism they want capitalism in their countries now the west

the latest from the occupied wall street and my guess in the studio today i direct to all of the institute for global research and social movements boris kodjoe list and joining us via skype from san francisco california is kevin that of her the co-founder of the global exchange human rights organization gentleman in in the united states first of all and also joined by people in other countries can we call it can we call it the the great to work socialist revolution people are they actually do want socialism do they well it's it's it's very it's a capitalist it's very anti capitalist sirin the united states sometimes not is explicitly using words that you know name capitalism or imperialism but it's very much against the bad the finance sector all of our wealth is gone sucked up into the finance sector and they're not spreading it around they're not investing it they're not lending it out and that's part of the economic crisis in the united states and i think we're seeing it everywhere as as your introduction said eighty countries now on saturday we have protests all across the united stat

we need national institutions but they should be geared to honoring the fundamental principle of our ability and our right as people to to control our economic wise and to have political institutions that are truly responses to our our will and our preferences but we also need to learn as a people how to use that power and that responsibility in a way that recognizes our mutual responsibility to to one another but see the other piece that were the that you and i are certainly very aware of is that in the transition between centuries we're we're we're moving into a phase. as a species we much must be much more conscious of our impact on the planet. that somewhere in the one nine hundred seventy s. we passed over a threshold from the point at which we could be basically. disregard our human impact on a global scale on the environment we could mine our resources we could cut down our forests we could throw our talk six into the water in the air and get away with it with marginal impact but now are in a position where we are literally destroying the life support system of the earth in wh

while the ratings of nine other institutions have been cut by one, to five notches. in a statement, moody's cited a potential decrease in official support for ailing banks, saying the british government now more likely to let smaller institutions to go bankrupt. but it added the latest downgrades do not mean that the banking system has become less stable. >>> on the same day moody's downgraded nine portuguese financial institutions by one to two notches. >>> three women have been jointly awarded this year's nobel peace prize, they have contributed to achieving the full participation of women in peace activism. >> the norwegian nobel committee has decided that the nobel peace prize for 2011 is to be divided in three equal parts. between ellen johnson-sirleaf, leymah gbowee and tawakku tawakkul karman, for their nonviolent struggle for the safety of women and for women's rights, for full participation in peace-building work. >> the norwegian nobel committee announced the winners on friday. liberian president, ellen johnson-sirleaf is africa's first democratically-elect

they were run by these institutions. being the head of an individual camp might have been a position that somebody would have wanted, at least as a steppingstone to something better within the camp system. but there was of course tremendous danger of being involved in any of this. if the argument escapes from the camp that you run you could wind up arrested yourself. the commander in the 1930s as a rest in december 1938 and is executed for allowing too many escapes, and for a decline in discipline among the laborers. i mean, it's a frightening position to be in. but if you go down one more level and you look at the employees like the armed guards, not a position of the most people would want to have. when it's 40 below out, it's 40 below out even if you're a card and your dress a lot better than a prisoner. but you are still outside in this kind of weather. and again, he faced the possibility of criminal prosecution if one of their prisoners escape on you. so they have to provide tremendous inducements to get individuals

institutions into marketable pieces.part of the planning process is to get them to a separate legal subsidiaries that can be sold up in marketable pieces appeared for lurch and become another strategy is to recapitalize that. one of the ways you can do that is by converting some piece of the unsecured debt into an equity position. but that is another thing we've been in robust discussions and there's a lot of issues there in the report. that's another strategy is very actively considered at the fdic and they will be presenting similar papers and roundtables on that subject because it really is important for the market to understand the kinds of tools that can be available and would be used in that situation. and again, we are going to entity to fail unless the market itself is convinced that you know your money's address and you invest in large financial institutions, government will not bail you out anymore. before you invest, each kick the tires come as he was on the balance sheet and what kind of management they have.

the one of the principle creations of the fsoc so look at the systemically -- of our institution. because obviously that was a big problem with what happened in 2008. would you say today our institutions are more or less systemically connected than they were pre2008? >> they are obviously very closely tied but the most important thing we've seen is they hold much more capital against risk and are funded much more conservatively. and noigs that there's been much more progress to make sure there's much more conservativism in the money market ps and for those reasons, it's much less likely that a particular shock would damage the strong, not just the weak, and much less likely that pressures on a weaker institution would spread to the stronger. >> would you say those effects we're seeing are from the european situation which is billowing over and affecting our markets and our financial institutions? doesn't that kind of play into that systemically connected issue? and in my speaking with some of these institutions, they are sort of saying well, if some of the problems -- if one of th

this institution will be also organized in seminars will be organizing specialized schools for. four linguists who would like to deep they're not the chin the russian language and russian literature will facilitate their meeting with the. russian authors and all the russian situations linguistic institutions well currently involved in promoting to literature recently will couple minutes ago when talking about the future of books he said that that that that lies and to roots because it's a piece of art and because it's business when selecting the books that should be translated what's your main principle and so i think is it is it business or it or is that there just a quality. or both both both sometimes it's difficult but you know if you ask me as they represent of the russian you know governmental office i would say i would like to set up a direct communication between russian publishers and foreign publishers and set up you know a business route of if you're talking to me or see the military i'm with a person who was in the publishing business for twenty years and then. been

we have an institutional crisis on our hands. he made three institutional remarks. the first about cooperation between the europe commission -- you are the head -- the deficit, such as italy. intervention in the budgetary authority. second institutional remark, the 17 must go further. i would do the utmost to prevent a split. third institutional remark, a treaty change. in all of these three considerations, two of these more specific, massive and executive powers are provided for or implied. they could and national sovereignty -- one institution was not mentioned. that is the european parliament. the platform of european democracy. let me make this clear to you. i am not saying this on behalf of my group but on behalf of most members of this house. what ever you do it in europe through a treaty change, you needed the backing of european parliament. this is -- in your deliberations, take the president of the european parliament seriously. there can be no treaty change without the european parliament. ladies and gentlemen, i do not want any institutional conflicts. we

institutions. and one of the most important things that we share with latin america economies is provide cushion. so one thing we learned is prudent use of stimulus. it's very hard to calibrate we know, but overuse of stimulus of what would happen, like real estate bubble. we have real estate bubble in singapore, and china and hong kong. and deflationary pressure and currency depreciation. one of the things that was adopted in a lot of asian market, countered the bubbles is basically use of policies to kind of, you know, to handle some of this, this spiraling up housing prices. i can tell you a star in singapore happened, every time you get a housing market that spirals out of control, if you own a government subsidized property you can't buy another private property, that basically killed the speculators in the market. and also a lot of, 80%, you can load up to 80%. when we do handle the problem, we cut it to 60%. so really, it's unfortunate but overall i think it does help to stem some of the bub

through the north caucasus federal university or another regional institution for. a lot has been out that about democracy and it might not have meant not country and most people believe that sooner or later we'll reach the presence down the ocracy in the cook case but centuries that have been institutions which have very difficult to be rooted that these institutions the tension in comprehend fit with both the mentality that is the tape fifth them islamic to media and particularly new. does this kind of a society really need a western style democracy. i don't know for a western style democracy is the west itself has various kinds of democracy in the political interpretation of democracy like everyone wants to impose their vision of democracy on other countries but i'm totally against it i believe russia has its own form of democratic development for our republics i wouldn't dramatize the situation regarding the peculiarities of the north caucasus but there is perhaps one significant difficulty which we should gradually give up this is a certain atavism which over t

mta staff met with the institutions early on in the process. as of earlier this week, we actually posted -- the academy hosted a meeting that we intended, and they gave the revised project to the epitasis that knows exactly where we are before today. i am sure i am missing something. commissioner buell, at previous meetings, the question was raised about how many staff members from both institutions park there. i wanted to report briefly some numbers here. again, in context of their staff levels changing throughout the year. this is kind of a general worst- case scenario. they anticipate that the have a full staff of approximately 200 people during weekdays, monday through friday. of that, 61% actually drive their vehicles, which represents about 122 vehicles. of the 122, 30 of them have parking spaces in the garage. the delta on that is roughly about 90 staff members on an monday through friday would be parking on surface with in golden gate park. for the academy, they have about 100 additional employees during peak time. they have about 300 a

we have met with park institutions, including museums. we have met with a different advocates, so we have kind of proceeded in a collaborative manner of trying to come up with the best design for everybody. do the design process, we look at three specific goals out of the meetings and discussions. first, we wanted to provide a continuous a buffer, not something that gave way at a certain point. we wanted to maintain all the blousons, which we are required to do by law. then we wanted to maintain as much parking near the institutions as we possibly could. i will go into detail about each one of those. what you cannot see there is a cross section of what is out there right now on the top, you can see that there are travel lanes in the middle of the roadway. on the side, parking permit it. in the middle, a kind of an extra space. that is used as a de facto bike lane. but it does not get to the heart of the problem that we're seeing here, that people want separation. what we're proposing is a roadway here where you have a bicycle lanes, the c

and financial institutions. he was an investment banker for two decades, principally with jpmorgan and was president and principal researcher for the center on federal financial institutions. i would like to welcome you all today. mr. rashish, you are recognized for five minutes. >> thank you, chairman miller, ranking mcmccarthy. >> you might want to move that microphone close to you so we can actually hear this panel. is it on? >> how's that? >> really good. we're on our way. >> thank you, chairman miller, ranking member mccarthy and distinguished members of the subcommittee on international monetary policy and trade. my name is peter rashish. i am vice president for europe and eurasia at the u.s. chamber of commerce. the trans-atlantic commercial relationship is by far the largest in the world. with the united states and the european union surpassing $4.3 trillion in trade, investment and sales by foreign affiliates of companies in one of those markets. u.s. companies have over $1 trillion invested in the eu.

i would encourage you to compare the quality of programming at the dole institute to the institute of politics at harvard. and i know you'll be impressed with the dole institute. all of the events we hold our free and open to the public and keeping at the institute engagement possible because of support from the university like those of you who are here have made this the team. so on behalf of the university and half of the dole institute i want to thank you for your generous support. it's also possible because of the generous personal contributions of dolts themselves with abdul being honored as a ku endowment life trust you. you know all of the events -- about the events i've been to at the dole institute, one of the most inspiring is the annual swearing-in of new citizen and i make sure that whatever is going on, that i get to that event. i had the opportunity to attend this event each year since becoming chancellor and it is truly fitting that the newest citizens of our nation take their oath of citizenship in institute built by and in honor of someone who devoted his life to defe