three in the institute and three in the institute. the diagnostic systems range from lasers x. rays a neutron cameras to impurity monitors particle spectrometers and radiation. unfortunately we can't cover them all but we managed to check out a few. institute is also working on these highfield side reflect the system we sense michael. and use the extent to which they are reflected to gauge the density and therefore the stability of the plasma a wide range of frequencies are used which allows them to take a cross-section and see the density distribution within this system is tested using this full. wave. but the main challenge the sending different way frequencies down the same guide without distorting them this diagnostic technology the way it is meant to be applied editor has never been used with the talk of mark. so we decided to start by installing diagnostic sensors inside the t ten and now we have collected a full. re-image results. this is a full scale replica of the institute's diverted. six thousand device would be located jus

did not and institution of fire on dash higher education. >> night in institution?ent senate we have not withheld federal funds if i may but just last april we have an example how well it is tuffs university working with us they reported to revoke the agreement and i sent a letter they britain free to it has 60 days to cure or we would begin the process to revoke federal funds then within two weeks they became back in compliance with the resolution agreement itself. so the threat of withholding federal funds is an enforcement tool and the reason we can see institutions. >> your statement says it has never been used. >> has to withhold the funds it is an incentive. >> that is the nuclear option around here. >> it is pretty good. >> maybe something in the background but if there are not other options as part of title four money because of this violation now to the campus based programs for support activities for students. >> with respect to do is think we have that opportunity as part of the resolution of agreement that they change practices. who has that authority. >

we all say it's important, then we send them to institutions where, many institutions, not every but many, don't seem to take this issue very seriously. it should be under the category of a zero tolerance effort. the perpetrator should be labeled with words like "coward" and "monster" and whatever we can come up with. i know that upsets people, but that's the way i see it. it should be zero tolerance. institutions should be doing a lot of things already without any laws, without any regulations. you have to send the message more directly. i'm glad we made great progress when we reauthorized the violence against women act. one of the component parts was my campus save law, which you are now working on implementing. we're grateful for that. i'm grateful for senator leahy and his work to get that done. we made progress with campus save. got to get it implemented, but i'm sure there will be gaps and other matters that weren't addressed. we've made progress and have a long way to go. in light of the campus save elements, which you've spoken to a little bit in your testimony on page four,

financial institutions are. he said the second reason for doing it is more important in -- than the first. he said he never lost the moment sleep worrying about whether or not the integrity of the financial structure is sound and safe. i lost money and made bad bets along the way but i have never lost sleep over the confidence in the financial architecture of the country. that was shattered. it is coming back in my view but we are still not there. >> in my mind, i agree. i think there is more confidence in fact reflected by people's behavior than there is in their opinion. as i look at the financial structure, i don't see people sending the money elsewhere are -- or putting it under the mattress or any kind of mediation. there is still this perception and part of it -- there are two reasons for this. the main one i think is self-fulfilling prophecy on a particular issue and that is on the question of the too big to fail banks. i am convinced chris worked on bipartisan things with dick shelby. i believe the maxim

institute three in the institute and three in the institute. the diagnostic systems range from lasers x. rays a neutron cameras to impurity monitors particle spectrometers and radiation. unfortunately we can't cover them all checkouts a few. institute is also working on these high fields side reflect the system we sense michael. and use the extent to which they reflected to gauge the density and therefore the stability of the plasma a wide range of frequencies are used which allows them to take a cross-section and see the density distribution within this is tested using this full. wave. but the main challenge different way frequency is done the same guide without distorting them this diagnostic technology the way it is meant to be applied editor has never been used with a talk a mark. so we decided to start by installing diagnostic sensors inside the t ten and now we have collected a full. re-image results. this is a full scale replica of the e.o. for institutes divert. the six ton device would be located just one point five meters away from th

we all say it's important, then we send them to institutions where, many institutions, not every but many, don't seem to take this issue very seriously. it should be under the category of a zero tolerance effort. the perpetrator should be labeled with words like "coward" and "monster" and whatever we can come up with. i know that upsets people, but that's the way i see it. it should be zero tolerance. institutions should be doing a lot of things already without any laws, without any regulations. you have to send the message more directly. i'm glad we made great progress when we reauthorized the violence against women act. one of the component parts was my campus save law, which you are now working on implementing. we're grateful for that. i'm grateful for senator leahy and his work to get that done. we made progress with campus save. got to get it implemented, but i'm sure there will be gaps and other matters that weren't addressed. we've made progress and have a long way to go. in light of the campus save elements, which you've spoken to a little bit in your testimony on page four,

foreign policy of institution mr.pacom and director of latin initiatives at the brookings institution mr. mr. harold dennis and secretary-general of the os, minister senators and congressman and members of the chilean allocation officers of the u.s. government professors and members of the academia, ladies and gentlemen and dear friends because i see a lot of good friends here. i started this together little latin america in touch. we usually start all speeches with a long mention of all the important people. so dear friends, it's always a pleasure to return to the united states which was my home for several years. a home where i learned important important lessons and made close friendships. i think brookings and the institution that has cosponsored this meeting. i'm returning to washington as president of the republic of chile optimistic that we have initiated positive changes for the future of the country. i'm confident that this is the worldwide task. in recent decades chile has embarked on a successful path of de

three in the institute and three in the institute. the diagnostic systems range from lasers x. rays a neutron cameras to impurity monitors particle spectrometers and radiation. unfortunately we can't cover them all but check out a few. institute is also working on these high fields side reflect the system. and use the extent to which they reflected to gauge the density and therefore the stability of the plasma a wide range of frequencies are used which allows them to take a cross-section and see the density distribution within this system is tested using this full. wave. but the main challenge different way frequency is done the same guide without distorting them this diagnostic technology the way it is meant to be applied editor has never been used with a talk a mark. so we decided to start by installing diagnostic sensors inside the t ten and now we have collected a full. re-image diagnostic results. this is a full scale replica of the e.o. for institute diverted thomson scattering system for. the sixth device would be located just

that is why institutional leadership matters. the second key element of leadership that we encountered over the course of the study is the value of her leadership. here is the interesting thing. we found that really doesn't matter much about what you do before age 20. there is no statistical significant relationship between any variable you could imagine and the likelihood of becoming strategic leader later in life. doesn't matter if your parents were rich or poor, doesn't matter if you were a varsity athlete or student body president. doesn't matter if you were popular or a nerd. none of those things matter. what does matter is that some time in the early adult stage, 18, 19, 20, 21, 22, in the college years in particular, you need to find a mentor, somebody who will help raise opportunities for you, introduce you to different networks. there's a wonderful social scientist who wrote a book in the 70s called getting a job. the key finding from his research is it doesn't really matter if your family and friends help you make conne

breakare going to institution so no one institution is big enough to threaten us, then they all have to be no bigger than lehman brothers was in september of 2008 because that failure was one of the precipitating causes. secondly, how are we going to do it? who is going to buy them? i don't understand what the mechanism is. there is the vocalcker rule. this,ook at the causes of i think 100% securitization is a big part of the problem. nothing would've prevented it country wise from making all those lousy loans and securitizing the 100%. nothing would've stopped a idea from screwing up as badly as it did -- aig from screwing up as badly as it did with derivatives. if people want to break up the banks -- they may be too big to manage. as i said, there are things that shrink it. warren who is a proponent of putting back class repeal was not the cause of the crisis. saidagree with barney just as well. is not is that the issue so much the size of the institution but rather the risk that institutions take on. to that extent, whether it is capital, liquidity -- other measures determine whet

the result is an obvious, , if notg frustration exasperation, with institutional governors.the problem is today's institutions are not keeping up or even catching up to the felt needs of our time. eyes, difficult decisions are deferred or avoided altogether. some people even give up before they tried because they just don't believe they can make a difference. the sum total of all of this in action is stealing the future from all of us. just a few examples, from little too big. a train between washington and new york that can go 150 miles per hour, but lacking modern infrastructure, goes that fast for only 80 miles of the trip. an outdated american grit which can sell energy from one end of the country to the other. growing moree urgent with 97% of scientists telling us for years of the imperative to act. the solution is staring us in the face -- make energy policy choices now that will allow america to lead a 6 trillion dollar market. yet, we still remain gridlocked. , urgentlyn reform needed to unleash the full power of millions who live here and sensible and both fair. on

and the new institution is the democracy institution in. so not just to believe it is inevitable. that there is a lot to learn. >> what he has proposed is a global wealth packaged extension of up property-tax do tasks other forms of property. it is called the utopian but the income-tax was called at 100 years ago but talk about the u.s. experience with the income-tax. >> we were pretty against that but we began to tell ourselves a story. and as i listen to tom talk about this think about this story of the understanding of ourselves in these economic circumstances in cases of extreme inequality people blame political leaders that it is there fault to lead us into war. also the question how we describe the pressures on those people if you feel this is a work hard play by the rules economy and sure there are ups and downs but mostly if i were card my family will 20k and defies inch my belt to work really hard my kids will have a chance to do a little bit better and their kids will do better than that. that sets the stage for every anybody to participate in the economy with production

the institution that emerged still exists today. what is called spring harbor laboratory now. one of the most distinguished laboratories for the pursuit of molecular biology and molecular genetics in the world i just want to films of building of. a record of his church. but it's an story called the commentary it's not about the present which. they are embarrassed by i think they should live or comfortably with it because it doesn't characterize calls for garber today by any means and they should say this is what went on there it was wrong and we're now have gone past it now for more than half a well more than half a century when the eugenics record office was founded in one thousand nine hundred it was meant to be a place where people studied families. charles davenport who was the director was focused like his hero francis galton on family traits. they looked for families they called the general. so families where there was alcoholism families where there was so-called people in mind families where there was illegitimacy families where there was prostitution and what have you

>> never in an institution of higher education. it has been used with school districts. >> but not for an institution? for this kind of an incident in. >> we have not had to actually withhold federal funds are a college or university. if i may, just last april we have, i think, the best example of how well that tool is working for us. tufts university after they entered into a resolution agreement with us purported to revoke that agreement and i sent them a letter telling them that they were in breach of the agreement and telling them that they had 60 days to cure or that we would begin the process to revoke federal funds. within two weeks tufts university came back into compliance and is part of -- not in compliance with title 9 but in compliance with the resolution agreement itself. so the threat of withholding federal funds is a very significant enforcement tool for us. it's one of the reasons that we've been able to see our institutions -- >> you're given me evidence but your statement says it's never been used. >> it's never b

>> some include the institutions of the institutional domain for those who are in the competition. with the system of investments and skills. but that portion of excess. also of the domain as well. with political life with the number of countries. so these are perrier's different social vehicle institutions that can make a huge to france at the end of the day with a quality. >> and noticed the first place tom goes is financing opportunities. education. to make sure everybody gets a good education so you have talented kids who were not born into wealth the families but have opportunities but i say investment of infrastructure if the business once touche started needs the power to plug in and the roads and educated workers. making those kinds of investments are the kind for which everybody feels i got a piece of this day an opportunity i will succeed. but a world that those are undermined lot that ryan budget that, remember i am sorry. [laughter] said the basic premise behind a the ryan budget lots of loopholes for those at the top income-tax is and how do they plan to pay for it? by

institution. >> you think that's when it started? >> yes. he was angry that bob michael and him would share a car ride. >> different parties. >> they would drop off congressman madigan. five guys in the station wagon, trying to beat expenses to get home. that upset him, that bob michael played golf with tip o'neill. tip believed it is the art of the possible. newt gingrich believe it should be his way or no way. it changed the whole institution. >> were you blaming the cameras at that time, and was it a mistake? >> not a mistake to blame the cameras. they were not even there. >> transparency. let's stick with transparency. are you going to blame twitter, facebook? no. this is the world of this political arena operates in today, and everyone needs to live with it. it's a big change. >> here is some video of jim wright resigning from the congress after he had been in a confrontation with newt gingrich. [video clip] >> it is grievously hurtful to our society. vilification becomes an accepted form of political debate. negative campaignin

banking institutions around the world. there's no substitute for setting the right tone at the top. ethics, training, procedures, et cetera. that said, there are going to be mistakes. there are going to be commercial judgments made that look reasonable at the time, that could be mistakes. it's ultimately balancing. one of the important aspects between the relationship of the private sector and governmental institutions involving creating these rules, implementing and entoe enforcing them is a sufficient degree of trust, transparency and communication. they are always going to be somebody -- mine once said that no matter what you do in any large organization, the leadership is probably always going to be someone who is making a bad decision somewhere that could come back to hurt the institution institutionally, but there has to be essential trust where in legitimate circumstances, there are incentives to report, there are incentives to remediate, and the punishment is calibrated to fit the crime, as it were. there are also

within that thesis there tends not to be the same institutional structures which is why institutionsdo matter for long-term success. for gordon and students who want to lead to develop a network of friends that they know from the yearly part of their careers to hold them accountable with the hard questions. truly what gets them in trouble is money and power and sex are you being faithful in your marriage? how to handle your finances? who is keeping you grounded see you don't buy into your own press. people like interviewed had that platinum leadership to find ways to be held accountable. john can in the bank ceo who made a friendships from high school in they have a way to keep him grounded. that kind of approach is helpful but it is important to have accountability. >> good evening. much 2012 recent graduate of gordon college as a young professional of international development to take seriously a the power of decision makers the in washington d.c. your where we work, could you speak to the distance between those places of power and also someone interested to do institutional power

cyber security threats from risk-taking by large financial institutions.ore closing let me point out that the council's last annual report we have reached a number of milestones in the financial reform implementation. that means that the home buyers, retirees have better protections. to that end, the rule has been finalized. qualified mortgage standards have gone into effect. capital standards are now in place. over-the-counter aover-the-coune now moving onto electronic trading platforms into centralized clearing. wind have been opposed on the actions related to manipulations of other financial benchmarks. the international community is making progress on increasing the stability of the global financial system. mr. trinh and i want to thank the members of the council and all the staff involved in the 2014 annual report for their tireless work and commitment. as the council fulfilled its obligations to strengthen the financial system and limit risks to the economy we will continue to work with you and the committee of congress to make progress for all ameri

i want to acknowledge and thank our or numbers who are with us and for all they do for this institution. board members sprinkled around this audience, thank you very much. finally before introducing our extend myer, i must personal gratitude and the gratitude of the board to the two key people who run this institution day and and day out and they do it with the type of selfless energy that guarantee success. , heather new ceo campion. and the director of the kennedy presidential library and museum. my good friend tom putnam. [applause] forank them and the staff the work that you guys do in making this day possible and making this institution so relevant and important. id now, ladies and gentlemen, would like to introduce the chairman of the profile in courage award committee who leads the committee with humor, and a, a bit of courage, great sense of empathy i think is a fair word in trying to deal with all of the committee members who work so diligently to select annual awardees. my good friend, loyal chairman, i do not know what i would do with ken -- without him, al hunt. [applause] >

they are the same institutions.they have consolidated power, and they are at a very, very dangerous point of it. at is all true. the difference is that we do nothing, we are saying this is ok, and this can't continue, and it is not like any of us individually has the power, but collectively -- if students stop paying their student loans at the same weight banks stopped reinforcing these loans at the beginning of the toxic assets, the fed is paying for to take off the books of banks, if people did the same kinds of things, there would be a kind of financial revolution. the point, nomi. nobody went to jail. nobody paid a price for it. >> the settlements they paid are less than half of one percent of all of their assets. tavis: jamie diamond got a raise. >> and he is still there, and he still talks against regulation, and it is bad for the country, and it is bad for the world, so i agree that they should be in jail, and the department of justice should do its job, and leadership should make them accountable. going back

our institutions are doing the same thing. we are trying to come up with the resources to do it well. >> a lot of smaller schools, the what time i had a trainee and she had four or five different jobs. the more i added to the list of things that she needed to be working on, the more concerned i became for her. in some ways, is making sure there is a commitment from the top down that they are adequately given the ability to do the job. >> let turn it to you all. is there something we have not talked about? we have hit private cause of action. we hit mandatory reporting. is there anything that we have not talked about today that is on your list that we should know about? >> i have two pieces. >> go ahead. >> i was going to piggyback on the last conversation for the need for more resources. i ain't that halloween the signing of these voluntary inkolution agreements -- i th that following the signing of these voluntary solution agreements, there are not enough folks going around. the same administrators are still on campus. they a

in a typical recession or a typical case of a financial institution failing, you should basically let the fire burn, let the losses happen. you can do that with relative confidence that it's not going to spread to the responsible and the strong. you can do it with less risk of contagion, and the benefit of acting that way is that you hopefully get incentives better and maybe in the future at the margin you reduced the risk that that behavior that caused the failure is looked at as a tractor. it's a pretty good moral hazard argument. in a panic yet to do the opposite. because if you let the fire burn too hot, you let the run gain momentum, then it will overwhelm your expenses. it will imperil the week. the strong, not just the week and you risk massive unemployment. if you look at the centuries financial crises, look at the figures of crises before the great depression, look at the great depression, or look at the last eight emerging market financial crises of the '90s and you can see what happens when governments stand back in the face of those panics, and hope they burn themselves ou

any given institution is only as good as its reputation. say reputation, reputation, reputation at the top of their list of things first and foremost on their minds when it comes to running their businesses, assuring the solidity of their businesses, building those businesses going forward, irking with their counterparties, let alone dealing with their own employees and local communities -- working with their counterparties, let alone dealing with their own employees and local communities. i went to our general counsel. said, i better dust off a file on bsa, aml, patriot acts, that sort of thing, and she handed me a 100-page, singlespaced manual and took me around the corner and introduced occ examiners,r who is the aml-bsa person. this is implementation and, the practical nitty-gritty of everything -- this is implementation and enforcement, the practical nitty-gritty of getting everything afi represents. it is about making sure from the that theselevel desired effects are put in place, monitored, policed, and on theird shortcomings. thisre

for them working through international institutions like the u.n. or respecting international law is a sign of weakness. i think they're wrong. let me offer just two examples why. in ukraine, russia's actions were called to the day when soviet tanks rolled into eastern europe. but this isn't the cold war. our ability to shape world opinion helped isolate russia right away. because of american leadership, the world immediately condemned russian actions. europe and the g-7 joined us to impose sanctions. nato reinforced our commitment to europe allies. the i.m.f. is helping to stable ukraine's economy. and they brought the eyes to the unstable parts of ukraine and this mobilization of world opinion and international institutions served as a counterweight to russian propaganda and russian troops on the border and armed militias in ski masks. this weekend, ukrainians voted by the millions. yesterday i spoke to their next president. we don't know how the situation will play out and there will remain grave challenges ahead, but standing with our allies on