senator judd gregg for one called the measure a job-killer.d said, quote, it's a punitive exercise aimed at wall street. and here to discuss that and other key issues in the financial reform bill, republican senator judd gregg from new hampshire, the ranking member of the senate budget committee and a critical voice in this financial reform debate. senator gregg it's a pleasure to see you, welcome back to the program. >> thanks, dylan. thanks for having me on. >> why do you think there's as much resistance as there is to the amendments that most centrally would reveal to the american people either the collateral being taken at the federal reserve and given out to banks to go back to work with. or for that matter, would require the banks or any financial institution to be transparent in their purchase of credit default swaps as basically insurance as opposed to being allowed to continue to buy that in private? >> two different issues. on the second one basically the opposition is coming from the regulators, such as the fdic, sheila bair and the

and judd gregg, senator judd gregg who is a close friend of ours joined senator kennedy and me.ok at each other and we both looked sick because we knew what it meant. it meant a change of everything. >> larry: how soon did you talk to the president? >> i talked to him a little later after i had gone to the secure location that the secret service took me to. and that's also one of the really surprising things for george and me that day is how spotty the communication was. and when we would have expected instant communication in a crisis like that, we didn't really have it. >> larry: had trouble talking? >> had trouble calling back and forth. he had trouble calling from air force one. i couldn't reach him. and we did, of course reach each other and talk to each other. but after several tries just a minute. were you wondering where he was or -- >> i knew where he was. i knew he was in florida. i thought he was on his way to washington. by the time i talked to him, i knew they had left -- i think they went to louisiana and then maybe to that nebraska to that -- >> larry: but he was

i thought judd looked sick, i'm sure he thought i looked sick too because we couldn't imagine and really i think it was sort of a blessing that senator kennedy kept up this small talk, because it gave us a way to try to process what we were seeing and what had meant. and then the three of us went out and spoke to the press and said, that we were postponing the briefing. i mean, already, it was sort i n defines of the terrorists, we were weren't going to cancel the briefing, it was just postponed, and as we were saying we were postponing the briefly, lawrence mcquellan from "u.s.a. today" said mrs. bush, what do we say to the children and that's with i got the idea of what do we say to the children? and i said then, you know, that parents need to assure their children that they're safe and turn off the television and don't let them watch over and over and over those buildings falling, but then it really gave me the direction of what i did in the days to follow, including the letters that i wrote to high school students and then to younger -- another letter for younger students about what

. >> questions over three days are not going to tell you much about a prospective judde. you have to look at their life work. that will be a clearer reflection of who they arr, how they think, and what they will do. >> with a new nominee, learn more about the ation's highest court in our latest book, "the supreme court." there are pages of candid conversation with

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i fought judd looked sick and he thought i was sick, too bad because we couldn't imagine.nd i think it was a sort of blessing senator kennedy kept up the small talk. it is a way to try to process what we were seeing and what it meant. then the three of us went out and spoke to the press and said we were postponing the briefing. already it was in defiance of the terrorists, we've learned when to cancel the briefing that was going to be postponed. then as we finished saying we were postponing the meeting, the briefing from usa today said mrs. bush, what do we say to the children? and that is when i got the idea of what do we say to the children? and i said then parents need to assure their children they are safe and turn off the television and don't let them watch over and over again the buildings falling so then it really gave me the direction of what i did in the days to follow including the letters i wrote to the high school students and then another letter for younger students about what had happened and what they could do for each other. how we needed to take care of ea

. >> this week on "newsmakers," senator judd gregg is joining us from the rotunda building. good morning. . >> well, we have actually tried to offer amendments which we thought would improve it but we are not trying to stop it. there is no one on our side that does not expect this bill to move forward. we have offered a whole series of amendments that have been addressing some of the very significant problems that this bill has. my opinion is that this bill in it's present form is getting worse rather than better right now with some of the amendments that are being adopted. we will end up contracting credit on main street. it will end up undermining our ability as a nation to be competitive internationally. it will probably make us less stable in the regulatory regime relative to managing our financial house. i am very concerned about the direction of the bill, but no one is trying to stop it. we are just trying to improve it. yesterday there were a series of amendments offered to improve it. i have been co-sponsor of an amendment that has gone forward to try and improve it.

our "newsmakers" program has judd gregg today. one of the issues getting a lot of attention in the bill. derivatives. he addressed that during the interview. guest: the language in this bill, unfortunately, it will contract the derivatives activities of this nation and undermine stability of the management and oversight of this nation. that is not me speaking. sheila bair said this. the head of the federal reserve staff told us this will be counterproductive to consumers at and the stability of the banking industry. chairman volcker has said that this bill is fundamentally flawed on the issues on how it tries to regulate derivatives. it will do harm to our ability on main street to get credit. we offered an alternative. it was voted down as you walked around the floor of the senate, and numerous democratic senators would come up and say, we know we have a problem. we cannot address and sel-- unt, after next tuesday, when walesa went in's primary occurs. that is not the way that you should legislate -- after next tuesday when blanc

senator judd gregg was one of our closest friends and is at the ranch he was by teeing allegory for the debates. [laughter] so he joined us and we would just look at each other as o overlooking the small television back in the corner of kennedy's office we were sick he looked sick because we could not imagine i think it was a blessing that senator kennedy kept up the small talk because it was a way to try to process what we were seeing and what if it meant that the three of us went out and spoke to the press and said we were postponing their briefing already we were not going to cancel the breeding just postponed fed as the finished, "usa today" asked me what do we say to the children? that is when i got the idea of what do we say to the children? i said then parents need to insure their children they are safe and turn off the television do not let them watch over and over the buildings falling but then they gave me the direction of what i did in the days to follow including the letters to the high school students and another letter for younger students about what had happened and what

justice brandeis, justice black, justice douglas, they all came from other arenas rather than the judd i think it's a plus because if you are a judge for any length of time and i know, i think because i was one, your focus backs narrower. you are talking to other judges. and even your discussions with lawyers are, where they are the is up pli-- supplicants and are you sitting on a high bunch looking down at them. and that narrows ones he point of you have an vision of where the country is i think the fact that she has been at the other side of the bench for most of her career and she has been dean of a law school that i guess i can say it more directly than proof certificate manning, it was a very fractious law school faculty that she took on and brought together and made them feel more collegial about themselves. and these are experiences that are going to stand the court in good stead because it is an otherwise experience rather than as having another appellate court judge come on there and bring the same point of view that the other 8 have already brought. >> ifill: john manning, le

republican senator judd gregg serves on the banking committee and joins us from capitol hill.alk about greece and this contagion that is likely affecting other countries in europe as well. we see that the euro fell below 130 for the first time in more than a year. what concerns do you have as someone working on all of this on the hill? >> i think we all should be very concerned about what's happening in europe. the domino effect. they've got a serious problem there in that these nations are all tied into the euro, but they all have different economic structures and deficit structures. and so you have greece, which is essentially an insolvent country, portugal with serious problems, spain which has problems not as serious as greece or portugal, and ireland has very serious problems. when they get into these problems, not only do they bring that nation down but they potentially bring a lot of other countries with them. it certainly affects the value of the euro. that's a problem for the world. if the euro and europe isn't strong and robust, they're a place where we sell a lot of

even top republicans like senator judd gregg predict that the bill will pass as early as this week but it is not clear how many republicans will be willing to sign on as they say it falls short supply and -- it fall short in key areas." david, good morning. caller: be passed bill after bill but we do not enforce nothing. in america of what we do is make sure that we make money. what happened to the eight years of bush? they stripped everything that makes money accountable of anything. even down to the dogcatchers in congress, no one is going in thinking they will help consumers. there is no one backing up the quality of anything. like at general motors. it seems that if they made quality merchandise they would not have to go through these problems. to change as part of the public, they will not do anything. we are not going to do anything to help the little people in america. host: perhaps touching on something broader in terms of regulation, here is an article from "the christian science monitor." "the ethical weakness on wall street led to ripping the heart out of economic security o

june 9, we have ashley judd, discussing the controversial practices in coal mining. june 10, stephen chu will be talking about accelerating innovation to meet climate in intervention energy goals. the second order of business is to present our guest with the moment you have all been waiting for, the presentation of the traditional national press club mug. >> thank you. [applause] >> as we add to the bush family collection, i know that your mother has spoken here and i think your grandfather did. i know your father has been here. hard to believe that your great grandfather was not here as well. >> the call we also got paper g -- he probably also got a mug. [laughter] >> knowing did you and your sister are twins, for many years you were the bush wins but you have gone on your divergent paths, really beginning in college. recently studies have come forth showing a lifetime earning power depending on the paths to take. i believe schools tend to do better than state schools, -- ivy league schools tend to do better than state schools, do you feel that your educational pack

cnn, ashley judd, dennis quaid. fox news, vanessa williams, marlon wayans.orker, david remnick at the at dinner. he's the editor, but he also wrote a book about president obama. "time" steven spielberg and michelle phieffer. "the washington times" has the owner of the redskins, dan snyder, and the redskins' new quarterback, donovan mcnabb, who is also at that dinner in 2005. in fact, if you go to politico.com, you can see a picture of then-senator obama talking with donovan mcnabb when he was in the super bowl that year with the philadelphia eagles. that was at that dinner, the white house correspondents' dinner. and tom brady of the new england patriots was also at the dinner that year. "the washington times" also invited dennis kucinich. you may have seen news reports that "washington times" is up for sale and john solomon could be the buyer. huffington post, which has a critical column about the white house correspondents' dinner on this site and it was written by a former staffer of john edwards. but the huffington post is also there this evening. they h

>> senator judd gregg said it. he expected to pass. quite a few republicans will be unhappy with the final product, but we have seen senator grassley, senator snowe, and others on the republican side already working to draft things on key issues. you'll see more moderate republicans supporting the bill. >> kevin, what are the bigamous this week that viewers should be watching for? >> one has to do with preempting state regulations for banks and consumer protection. the big one has to do with the derivatives market, held it will impose new rules on the gigantic market which is not yet police. the have not really worked out a compromise on what to do with the democratic proposal for a new consumer protection unit inside the fed. some of these other issues have been, appear to have been settled, but there are still big issues out there that would affect the banking industry. >> another thing coming as from two senators on the democratic side which would impose a stronger version of what has been called the volcker rule to ban banks, comme

judd rose was born and lived his entire life in iowa. he worked for the farm bureau.testify. prof. norton is an associate professor of the university of colorado school of law. prior to the common -- prior to that, prof. norton work in the coordination and review sectors. gail aldrich is a member of the aarp board of directors. she served as the chief membership officer for the society of human resource management and was senior vice president and chief administrative office of the california automobile association. eric is a partner of the law firm from 2003 until 2005. prior to becoming general counsel, he served as a tv director of the wage and hour and -- as deputy director of the wage and hour division. thank you for being here. i would like to ask if you could somehow in five minutes. first, we turn to mr. gross. i know you wish it was the other was reasons -- it was the other way. this has now become the focus of legislative interest in overcoming the supreme court decision. thank you for being here, and please proceed. >> committee members, and i will like to

i know judd gregg is a really smart guy and jack reed both smart from both sides of the i/o that some issue will probably divide this group if we don't work it out. that is the consumer protection piece. i want to see consumer protection take place. i know the senator from connecticut knows i was serious about trying to resolve the issue in march. it is my hope of that we can come to terms of that. it is my hope we can create an appropriate balance so it is in balance with a regulation for people who do not do that on a regular basis to make sure the banking system is safe and sound and the institutions are not at this for those kinds of things but hopefully we can get that in balance i don't know the senator from connecticut wants to speak to this but it has a lot of people concerned as an agency is written today they don't have appropriate checks and balances with the wrong type of leadership over time them possibly i hope over the course of the debate we have the ability to achieve that balance where people across the country wake up on a daily basis not directly involved in the fi

judd gregg, we should mention him as well. a retiring senator from new hampshire who had shown interest in the issue. richard lugar, people who have worked with democrats on other issues, sitting across senator kerrey. we will see whether or not they really want to negotiate on the bill. host: ky. mary jo on the republican line. -- kentucky. caller: we have a farm that has oil wells on them, but they are not capped. they have been in production for years. we do not have the environmental protection agency person coming to look at these things. these are open wells. another thing, on cap and trade, do you ever think about the amount of heat that concrete puts off? guest: i think the cap and trade legislation that senators are trying to push is trying to be choreographed with the climate on time a change, which is what i think she is getting at. certainly, there are questions about whether this bill would have been in effect on global temperatures. the bill seeks a reduction by 2020. most environmentalists believe that is not en

judd gregg, we should mention him as well.ing senator from new hampshire who had shown interest in the issue. richard lugar, people who have worked with democrats on other issues, sitting across senator kerrey. we will see whether or t they really want to negotiate on the bill. host: ky. mary jo on the republican line. -- kentucky. caller: we have a farm that has oil wells on them, but they are not capped. they have been in production for years. we do not have the environmental protection agency person coming to look at these things. these are open wells. another thing, on cap and trade, do you ever think about the amount of heat that concrete puts off? guest: i think the cap and trade legislation that senators are trying to push is trying to be choreographed with theclimate on time a change, which is what i think she is getting at. certainly, there are questions about whether this bill would have been in effect on global temperatures. the bill seeks a reduction by 2020. most environmentalists believe that is not enough, but i

guest: apparently he did vote against an amendment offered by judd gregg that would have given bush a more limited version of these powers. i think it was targeted only at earmarks. what obama is asking for would apply to any spending commit any bill. one congressman was asked about this yesterday. he said by the time that of the campaign, obama had changed his view. host: at the same time he is asking for this power, there are also increasing talks about a new stimulus package. what is the message being sent? guest: i would say it is both sides of the mouth. yeah, they are trying to walk a very fine line here. they are trying to show voters that they are concerned about the deficit which is at record levels. they do not have a plan to reduce its, but have this special commission meeting to come up with the plan. but in the meantime they have all this spending the need to do. they have a war supplemental on the floor of the senate that is now $60 billion. they have at $200 billion will turn to move in the house to extend the variety of very popular tax breaks, fix the doctors' payment

the republican nominees will be saxby chambliss, bob corker, mike crapo, judd gregg, and richard shelby. in a few moments, a house republican initiative for public input into their congressional agenda. in about 40 minutes, the hearing on the gulf of mexico oil spill to consider raising the liability limit for those responsible. after that, senate republicans spoke with reporters about their meeting with president obama. and later, president obama at a fundraiser tonight for california senator barbara boxer. >> this holiday, non-fiction books and authors on "book tv." sebastian younger and his newest book "war," imbedded with the 173rd in afghanistan. and john hofmeister. get the whole schedule at "book tv".org. >> house republicans have began an effort to create a policy agenda of republican input. this will be led by california representative kevin mccarthy. he the other g.o.p. leaders held a 40-minute briefing at the museum in washington. >> good morning, everyone. welcome to today's event. inscribed on this building are the words of the first amendment which guarantees americans the

when it comes to the economy, debt, judd gregg. . . time and aggravation.t: ronald reagan once said he could imagine not being an actor and being president. guest: he also said never -- nobody ever accused him of being an actor until he got into politics. host: the book is called "teaching the pig to dance," new mexico are of growing up and second chances. fred thompson, -- the house of representatives, morning business is allowed to get under way. live coverage on c-span and c- span2. a reminder, on book tv, c-span2 all weekend, a chance to catch up on some of your favorite nonfiction authors. you can get the schedule by logging on to the website. and we will have live coverage of the memorial day ceremony here in at arlington national cemetery with vice-president joe biden and the president will be at the abraham lincoln memorial outside of chicago, illinois. we hope you enjoy your weekend and we will be back tomorrow morning at 7:00 a.m. eastern time. have a good day. [captioning made possible by the national captioning institute, inc., in cooperation wi

. >> judd gregg, on federal spending and the financial regulation bill. sunday on c-span. >> in their relentless revolution, it is described like capitalism is a cultural system, and not just economic. sunday night on c-span. >> "washington journal" continues. is here.rsten sinema n tell us, from your perspective, will this law be able to work or will it have to be repealed by the voters or by the u.s. supreme court. guest: the bill is unconstitutional in a variety of ways. first, it violates the u.s. the supremacy clause, which reserves emigration law to the federal congress, and not to the state. even beyond that, there are so many problems with the legislation. it violates the fourth amendment right. any one of us could be stopped on the street in phoenix if an officer decides he has reasonable suspicion to believe that we are in the country without paperwork. the law does not define what reasonable suspicion of looks like, or what qualifies someone. there are also a lot of problems with the equal protection and due process clause. host: there was an o

i know he worked with judd gregg and others.but what is outstanding about his amendment is -- there are two things. number one, the fact is that we actually have to be honest with the american people about the cost, the liabilities that we're picking up as it relates to the g.s.e.'s. each year budgetarily we'll have to allocate moneys for the actual liabilities that exist here. i think that's a good thing. i think that's a very important step. there will be some transparency into what these organizations actually are costing our country. i think all of us realize that fannie and freddie are a huge problem, and we need to deal with it. so the second piece of the mccain amendment that i like so much is it puts in place dates certain by -- dates, a certain time by which we have to as a body have dealt with them. and i think one of the things i worry about -- it's really, again, pretty hard to believe that we haven't thoughtfully figured out a way to deal with g.s.e.'s at the time of passage right now. what i worry about is this bil

so we're glad to see that yesterday john mccain and senator shelby and judd gregg introduced a fannied freddie amendment." going on, it say, "the financial crisis inquiry commission spent yesterday focusing on financial leverage using bear stearns as an example. but fannie mae and freddie mac were twice as leverage the as bear and much larger as a shaifort mortgage market. fan and fred owned or guaranteed $5 trillion in mortgages and mortgage-backed securities when they collapsed in september 26008." this is a quote that's been read on the floor before but it is exactly applicable. again quoting the editorial, "reforming the financial system without fixing fannie and freddie is like declaring war on terror and ignoring the al qaeda." "unreformed, they are sure to kill the taxpayers again. only yesterday," and this was on may 6, "freddie said it had lost $8 billion in the first quarter." which i have already mentioned. going on to another editorial, this one also in the "wall street journal" by robert wilmers, and i quote just a part of t "at the end of the 2009, their total debt outst

i read congressional testimony from last fall on this area, and it really has laid out judd ground workon an intellectual level -- laid out a ground work on an intellectual level. i start my own assessment of this both looking at material interest and ideological, or i am going to be a little bit more down in the week as to how the countries themselves deal with these issues. trevor did a great job of giving the broad negotiation overview, which i will touch on a bit. a book i have co-written on this topic will be out this friday on amazon. 80% of our energy comes from fossil fuels. 20% comes from nuclear and renewables. from that, we produce just under 6 billion t of carbon dioxide per year. china produces 90% of their energy from fossil fuels. that creates about six gigatons. from those two countries, you have 12 out of the world's 30 gigatons. in order to keep temperature growth beneatt two degrees celsius, we need to get global gigatons down to 15. right now, china and the u.s. together produced 12, and we have to get globally to 15 in the next 40 or so years. that is a huge challen

that is why senator lincoln senator jack reed of rhode island, senator judd gregg saxby chambliss andothers of our colleagues have worked so hard over these last number of months to bring the derivatives market out of the shadows and into the sunlight where they belong. that is why the derivatives language in this bill is so critically critically important if we're going to live up to our descriptions of this bill as a major reform of the financial markets in our country. for the first time in our nation over-the- counter derivatives would be regulated by the securities and exchange commission and the commodities future trading commission. it includes the banking committee's tough requirements for central clearing, exchange trading, capital margin reporting that are critical to reducing systemic risk and ensuring that taxpayers won't have to clean up the mess resulting from another a.i.g. implosion. i know the financial sector lobbyists don't like these rules. in fact, over 1,000 corporate lobbyists have flooded this town this body, in fact, in an attempt to water these proposals down