okay, that he's achieved in that. >> i think on both those things i don't know who's record paul krugmanking at but it can't be barack obama. i think the president will go down as one of the most unsuccessful presidents when it comes to foreign policy and obamacare. and i guess to attack foreign policy first, what we know is two former secretaries of defense, first robert gates came out in his book and said obama seems to show contempt for our military and the use of military force. of course now everyone is talking about leon panetta's book where leon panetta actually -- who was a former cia director as well said not only does the president lack leadership but he missed his opportunity when it comes to foreign policy. most notably dealing with syria, not dealing with syria has created a vacuum in iraq that allowed isis to grow stronger. and finally obamacare, don, what we saw, what we're seeing with obamacare is that it's not affordable. it should be called the unaffordable care act. walmart announced this week that it is dropping insurance for 30,000 of its part time employees and they

krugman, i think he just lacks correct. when you read that article, you see the things that he's pointed out, there's so many holes in it, it seems to me that he's quite partisan, he's trying to reshape perception into some kind of twisted reality. >> it's a differing philosophy, if you believe in america's unique greatness. then you think that obama is a failure. but if you believe that america itself is behind all the other countries in progress, then he's a great leader. >> a couple of the things i would like to clarify, is that just as the insurance rates have gone down in the last three years, not up. wait a second, i can't handle both of your questions at the same time. can i just finish this out for a second? obama care, if you sat in this room six or seven months ago and listened to everybody here except for me say, this is going to be the biggest campaign issue, it's going to fall apart, it's death to the democrats, i don't know of a single race that reese going to rise or familiar out of obama care, it is working,

up next, paul krugman takes on president obama. >>> now paul krugman and the tale of two headlines.e is on "newsweek's" cover in 2009, an obama critic, the headline, obama is wrong. fast forward to this week, krugman on "rolling stone's" cover, in defense of obama. while he's been under fire from members of his own administration "the new york times" columnist is rushing to his defense arguing he is one of the most cons sequential commanders in chief in history. here's jon karl. >> you're offering the most full throated defense of obama from anybody who is not on the obama payroll right now. >> right. and it's funny because i was critical but that's the point in a way. people who had this idea that obama was going to bring a transformation of america, i thought were being naive but, by god we got health reform. we got a significant financial reform. we are getting the environmental action is not everything you would have wanted but it's more than anyone else has done for decades. >> put it in context. what are you saying, one of the most successful, fdr -- >> no, fdr is in a differe

paul krugman on charlie rose, that is his wheelhouse.is what he is asked at, talking about the zero bound. there is growth and there is not deflation in germany but they are is slowing growth. -- there is slowing growth. that was a lowered view, they did that monday. don't krugman says they have tools but the one tool mario draghi hasn't talked about his full-blown quantitative easing. >> i don't think they have the depth of market to do it in 17 countries. the degrees of freedom are too much in europe as well. we also know the degrees of freedom in baltimore maryland -- baltimore, maryland are ugly. canceled on us but he is here, class act that he is. or all of maryland the edit states, we are not europe. krugman's fears of germany, you can't bring over here. as i mentioned earlier the place to investors in the u.s.. we've made progress on the recovery but it is slow and uneven. you take twolier steps forward and one step back. the fed is doing a good job and will continue to be accommodated. >> can europe take us two or three steps bac

we begin this evening with a nobel prize recipient paul krugman talking about the economy, wall street, and president obama. >> if you were somebody who wanted to see the u.s. welfare state unravel, if you were somebody who wanted to see a radically smaller government, reagan did not deliver that, in the end he left the structure pretty much the way it was. obama, on the other hand, has left us with healthcare is essentially a right of legal residence in the united states, so obama has achieved a permanent transformation of america in a way that reagan did not and by my analysis that makes obama a more important president in the end that reagan was. >> rose: we continue with bernard-henri levy talking about isil and the threat it poses in syria. >> he is a crazy man has the obsession of a free kurdistan, because between free kurdistan and a trial strirt, trial strir rat, he plays with fire, he makes the choice of islamic state, over a free kurdistan. >> what we know is that kurdistan is probably the very modern, the very example of this moderate islam, secular, preaching equality betwe

nobel prize winner paul krugman called president obama the most influential president in history. krugman may be right, if you count driving a once great economic global power into a fiscal economic foreign policy and domestic policy ditch influential, then yes, perhaps president obama is. think about it. wake up, america. we're not better off under liberal progressive policies but we can be great again. free up the free market. capitalize on capitalism. liberate constitutional liberty. there's only one way to get america out of the liberal gutter they've driven us into. you got to vote out the liberal progressive, and vote in free market capitalism. you got to vote though, folks. by the way, don't complain unless you vote. have a great weekend, everybody portions decrease. what's coming up? >> "the willis report." gerri: hello, everybody. i'm gerri willis. welcome to a special edition of "the willis report." over the next hour, we're taking an in-depth look at ebola and how you and your family can stay safe. get you caught up on the latest headlines first. the caribbean cruise sh

liberal economist paul krugman of princeton acknowledges the appeal of price stability. >> this kindal sense that easy money is a bad thing. but, you know, it's even if it is, lack of jobs is a worse thing, and that's, that's what we should be worrying about. >> reporter: but columbia university economist charles calomiris insists that conservatives worry about employment too. >> that's all we really care about, but the reason we focus on inflation, and should focus more on it, is because it's a tool, a tactic, to achieve full employment. >> reporter: now columbia is a campus of statues, none more familiar than auguste rodin's thinker. but even this guy can't be pondering the perils of inflation, can he, currently running at a measly 1.7%, below even the fed's modest target of two percent. but calomiris is concerned. >> the fed has purchased something like 1.7 trillion of mortgage backed securities, a very large amount of long term treasury securities. it's grown its balance sheet from under a trillion to four times that, just in a few years. >> reporter: banks have been holding on t

." >> paul krugman is here, a nobel laureate in economics and "new york times columnist and professor at princeton. he had been one of president obama's most vocal critics during his first term, and has changed his tune. a cover story in "rolling stone," "in defense of obama," calling him one of the most consequential and successful presidents in american history. i want to talk about this, why you believe as you do, and how your feelings may have evolved. first, where are we today? i just watched what happened in washington in terms of global forecasts from the imf. they talk about a slowdown and recovery that is mediocre. they look at europe and china. the u.s. was reasonably healthy. >> right. the u.s. has been looking really good, -- pretty good, not a roaring boom by any means. there are troubles. europe is scary. china is scary, though that is harder to track. we are not an island. not expect they u.s. to be completely immune to these developments. stille are, six years, very fragile. >> talk about europe first. what is the problem in europe? >> it was originally that there is t

nobel prize winner paul krugman called president obama the most influential president in history. krugman may be right, if you count driving a once great economic global power into a fiscal economic foreign policy and domestic policy ditch influential, then yes, perhaps president obama is. think about it. wake up, america. we're not better off under liberal progressive policies but we can be great again. free up the free market. capitalize on capitalism. liberate constitutional liberty. there's only one way to get america out of the liberal gutter they've driven us into. you got to vote out the liberal progressive, and vote in free market capitalism. you got to vote though, folks. by the way, don't complain unless you vote. unless you vote. have a great weekend, everybody. >> announcer: the following is a paid presentation for the new shark rotator powered lift-away from euro-pro. following the introduction of the amazing original shark lift-away, shark received more five-star online reviews than any other vacuum brand. plus, shark is ranked highest in customer satisfaction by j.d

so i think krugman is right, that obama is a consequential president and he got what he wanted?> i wouldn't agree with you on that, ily even liberals would m<:'o[67lmcí)l5"goneve6í>bséou@i w&s]npÑ[w5ftyyzwy"d9,m9v[d!5ó:d. the guy put solar panels on the white house. he stuck a -- i don't think that's an environmental legacy. financial reform. that's part of the president's big legacy? we still have too big to fail, bush was the one that bailed out the banks, no one went to president, and the stock market is doing great, but main street really hasn't felt it. and lastly, obama care, is he serious? this guy lied to the american people to you could keep your doctor, hospital, and health care plan and then he took it away. the trillion dollars that was added to the deficit, i can't believe this guy even put him ahead of reagan. >> if he got it passed, he got a social program passed, that's a big deal for a left winger is to get more government into your life. >> he started a big tax reform, which the government could have gotten done. he chose health care reform instead and they've

as you know, paul krugman has written -- and he says this is what a successful presidency looks like.ul ba gala, is this what a successful presidency looks like? >> i think there is no question. i think history is way kinder to president obama than some of his former cabinet officers. absolutely. just pick -- first off, general motors is alive, and osama bin laden is dead, as joe biden famously said. absolutely true. both very important. we have no american automobile industry but for barack obama. okay? beyond that, we have i think a pretty good wall street reform bill, excellent health care reform, which fdr tried and failed. the deficit which my conservative friends have been screaming about as they took my boss's surplus and drove into a deficit is down from 10 point gdp to 2.8. >> kristin wright, something else krugman wrote. he said obama delivered less than supporters wanted, less than the country deserved, but more than detractors acknowledge. how about that last part. obviously i know you don't believe this is what a successful presidency looks like. how about the last statem

new republic argued amazon was a monopoly and now krugman saying it's a monop.ices lower instead of higher and where the argument originated. >> almost political lines being drawn when it comes to amazon. left/right story. >> it seems to be. kind of this battle between european and u.s. models of anti-trust. europe say they want to protect competition. in the u.s. we want to protect the consumer. what i wonder why haven't more companies like your apple, like your barnes & noble, even microsoft, come out and said here, we have them, go ahead and buy them, go ahead and preorder them. i mean, if this is really that unfair why hasn't the competition been stronger about taking advantage of this position by amazon? they could. >> they certainly could. barnes & noble has been caring heshep books for preorder. not loud about them. but if consumers want them they can get them elsewhere. to the cme group. rick santelli is there. >> good morning, kayla. we talked about our big number. 10.2%. well, here it is. on the screen, this is from the wall street.com for the 30 years

in this edition of "rolling stone," not only on health care, krugman argues that a tremendous amount has been accomplished under this president. those achievements might be politically invisible at the moment, but that doesn't mean that it didn't happen. he wasn't really taken with the president in the early days of his first campaign. he was critical of obama's early years. now he's a fan. >> if you're a progressive, you're part of a mind set that has spent 70 years trying to get more or less a guarantee of health insurance for americans. and now it's imperfect. it's not the plan you would devise, but it's there. it's working. and that, in itself, means we will emerge from 8 years of obama with a major substantive achievement that is a really, really big thing. >> yeah, let's talk about it. it's striking to me that this was the defining political debate of our time. i defined a lot of election in 2 08. it defined the early years of him all the way up to the supreme court. now, here we are, it's implemented, it's working pretty well and it just disappeared. mitch mcconnell gives a wo

we begin this evening with a nobel prize recipient paul krugman talking about the economy, wall streetobama. >> if you were somebody who wanted to see the u.s. welfare state unravel, if you were somebody who wanted to see a radically smaller government, reagan did not deliver that, in the end he left the structure pretty much the way it was. obama, on the other hand, has left us with healthcare is essentially a right of legal residence in the united states, so obama has achieved a permanent transformation of america in a way that reagan did not and by my analysis that makes obama a more important president in the end that reagan was. >> rose: we continue with bernard-henri levy talking about isil and the threat it poses in syria. >> he is a crazy man has

. >> paul krugman would give this rousing defend of obama, saying if you look at domestic policy, most inflewenseal since lyndon johnson. >> we were skeptical at first, much more respectful now of what the president has been able to achieve. it's not spectacular, but a lot of people have very, very high expectations, shall we say. >> including obama. >> indeed. it's hard to be disillusions if you weren't illusioned to begin with. judging on a more rational scale, i think the president has done a good job. >> i think the problem here for the american people, and i don't know how this plays out in history, is when you look at president obama, you look at the numbers we're looking at now, it's a question of leadership. it's a question of whether he has communicated well to the american public about his successes, which you could argue in the future health care reform will be judged as a success or whether he's communicating with them about the problems like ebola, like isis, like ukraine. and how you talk to the american people has a lot to do with how they view you. >> and he has not, in

in defense of obama, paul krugman writes, quote, obama has emerged as one of the most consequential and, yes, successful presidents in american history. he calls the affordable care act a huge step forward. notes that economic growth is much better than in any other advanced country. and says his work on the environment is a major legacy. quote, this is what a successful presidency looks like. democrats should be proud of that record, and the president's agenda for the future also. >> let's agree that nobody who works full time in america should ever have to raise a family in poverty. let's give america a raise. [ applause ] it will make the economy stronger. >> let's catch up to 2014. pass a fair pay law, make our economy stronger. let's enroll six million children in high quality preschool. that's an achievable goal that we know will make our workforce stronger. [ applause ] >> i'm not on the ballot this fall. michelle's pretty happy about that. [ laughter ] but make no mistake, these policies are on the ballot. every single one of them. >> these policies are on the ballot. and democr

nobel laureate krugman says the situation is scary. first, we take a look at the top stories.they are -- stocks not the only thing falling today.

because as you well know, paul krugman has written and he says this is what a successful presidency looks like. paul, is this what a successful presidency looks like? >> i think there is no question. yes. i think history way kinder to president obama than some of his former cabinet officers. absolutely. just pick -- first off general motors is alive and osama bin laden is dead. absolutely true. we would have no american automobile industry but for barack obama. beyond that we might have a good wall street reform, health care reform, and the deficit, they took my boss's sur plaus is down from 10% of gdp to 2.8. this is the fastest -- >> crystal, something else that paul wrote. he said obama delivered less than supporters wanted, less than the country deserved, but more than deers acknowledge. how about the last part. i know that you don't believe this is what a successful presidency looks like but how about the last statement from professor krugman where he says the guy doesn't get any breaks from those who are his opponents. >> i don't know how obamacare is delivering more than the presid

so mark, do you think krugman might be right?ing successes of obama's presidency, health care is one of them. lgbt issues, marriage equality as another one. the question isn't just will his legacy last. do we like the legacy? reagan's legacy, some might say it was awesome i would say it wasn't. it's not whether it lasts, it's whether it was good. i happen to think there are some major standout victories for obama, but messiness with wall street, the free market, schools, continuing the bush doctrine that i think make president obama's presidency somewhat shaky. >> kevin, are polls and elections the wrong way to judge a president. are we shortsighted to focus on them? >> i think the polls are a bad way to judge. i think that it is going to be -- to mark's point, it will be done in the annals of history. when you look at race relations in the country and the financial situation occurring now, and you look at the policies of obamacare, some of the things he's identified, i think that it's not going to reflect very well on barack oba

krugman said, look, you people, you may have good hard but your misguided.because you're talking as if the bangladesh workers have a choice between a low-wage job and the high wage job. but the choice they face is between a low-wage job and no job. so these people actually are better off by working the low-wage job in these factories. well absolutely correct, but what if bangladesh can institute a land reform so that the wage pressure in the urban areas diminished because fewer people migrate from countries to cities. what if you can abolish child labor so other wages are less and? what if bangladesh can use some policy to create high wage jobs in new industries? then maybe bangladesh workers have choice between low-wage job and high wage jobs. of course, if i say this you may say, that's pipedream, you know? but this is actually what happened in south korea between 1950-1970s. and then i'm sure if you put it to paul krugman, of course you can do those things, but by choosing not to talk about those possibilities he was taking a political stand, which is tha

and then it's the same argument made by krugman in this remarkable cover story. i still can't believe it's a cover story in "rolling stone" about how listen the economy under president obama is one of the greatest success stories in the modern era. there's a narrative to tell about the economy if democrats want to talk about that. it's weird they wouldn't want to talk about that and would preforetalk about isis and ebola. >> the back story an this is there's been great polling done by stan greenberg and james carville about how difficult it is to talk about an improving economy when you're still close to a recession. that's primarily because a lot of voters will say you're talking about how this economy is improving but i don't feel it in my pocketbook or my home. obama was incredibly careful about this. he rarely talked about how well the economy was doing. this year he's leaning into it. the international community would have loved our recovery. we've had so many months of positive economic growth, job numbers growth. unemployment rate below 6%. we should celeb

paul krugman talked about the zero bound challenges bill gross and others in fixed income had.est rates away from krugman's zero bounds, how much will the pain before gross, anybody else? >> we have to because his. a lot of fixed income asset classes have looked good in an era of zero interest rates. relative value has been pushed downward. a lot exit that period, of the strategies are going to be more challenged. that is taking a longer perspective on tactical opportunities and high yields. we have to play more defense. market have an equity that refuses to correct. a 10 year, 20-year paul volcker bond market that refuses to correct. how ugly will it be when the two year yield goes from 0.5 to 0.3 retirees are going yes! bond prices are going down. >> no one knows how bad. we have to look at where are risks are concentrated. i mention of avoiding concentration in the front end of the curve. managing liquidity risks. some sectors of fixed income are going to cost more to transition out of. >> how will janet yellen, stanley fischer, bill dudley, how would they communicate this?

paul krugman says get ready for more of the same. >> interest rates will go up next year and everythingl return by 2018 to the way the world was in 2007. the market doesn't believe that anymore neither do i. >> goldman sachs towing the line when it comes to compensation. the bank set aside a portion of revenues to pay employees. overall revenue was up 25%. estimates beaten at delta airlines. a strong performance and domestic travel. $4 billion in the last three months. might benefit from lower oil prices. the center for disease control is handling the ebola. the cdc had given her the go-ahead. the white house has asked why the u.s. has not banned travel to and from west africa. down travel to the area of the world would prevent the expeditious flow of personnel and equipment into the region. the only way to stop the outbreak is to stop this outbreak in its course. >> and the households a hearing on ebola. 30 minutes away from the start of trade, let's count down. reporters matt and scarlet joining me as we kick things off in new york city. the attorney general, eric scheider coming up w

tonight on charlie rose, paul krugman is a nobel laureate and the faster princeton university.e he is on the world economy. >> europe is seriously scary. china is in fact seriously scary although it is hard to track. we are not an island. you really would not expecting u.s. to be completely immune to the bad developments. here we are six years after lehman brothers filed and still very fragile. >> you can see the entire interview tonight at 7:00 and 10:00 new york time here on bloomberg. next guest says the dovish comments have stabilized risk asset. alex young is an investment strategist at oppenheimer funds in new york and joins me from his firm's headquarters. welcome back and good to see you. we have had a wild ride the past couple of days. esther bullard telling our economics editor that the lightning the end of the bond purchase program would halt a decline in text based -- in inflation expectations. >> i am not surprised it has stabilize the markets. i am not sure how much extending and tapering can do, given how long it has been going on. i think a lot of investors have

. >> we just saw paul krugman. he talked about his own sense of the global economy and financial reform. and the stock market, and demand, and how europe was different from other places. you said the two of you differ, he was complementry about the book, but you said you differ in three ways great what would they be? >> some ways. i think the most important part is this. of the way you approach this is to look at how the crisis occurred, then to work at how to prevent it. that is a focus of my book. he agrees with the analysis as i understood it of his review of how it happened. isis more optimistic, that the sense i get, of our ability to come up with economies after crises hit. he is disappointed with what happened but he thinks we will do better. i am skeptical for political and economic reasons. i put weight on avoiding repetitions of the crisis. the more optimistic you are about the way we can treat crises the less concerned you will be about that. it is an interesting point. when you look at the general , her

paul krugman, the influential "new york times" columnist came out and saying that they needed to be investigatedndard oil was. things like that are not things that amazon wants next to its name comes the holiday season, which they are hoping people will go out there and buy presents for their kids. >> ok, thank you, adam. let's bring in channel advisor ceo scott wingo. he joins us via skype. scott, hello. >> high, brad, how are you doing? >> good. i was just talking to bloomberg news' adam satariano. is this the beginning of the end of the cold war between amazon and e-book guys? >> it will be interesting to see. categories,s all not just books, is very protective about their ability to set prices, so that will be the really big piece that has been the bowl up her, and as they work through these different publishers, if they get flux ability there, they will be the most important thing for them. >> ok, now the holiday season approaches. you wrote a fascinating blog websitechanneladvisor's about the amazon for film and build outs come about all of the film is centers and dissertation centers that

on the flip side you have call krugman calling in defense of obama saying "obama emerged as one of the most successful presidents in american history." joining me to have a big conversation about this, former adviser to the president, van jones and the man himself who penned that peace, david mailer, former aide and top adviser at the state department and the author of "the end of greatness why america can't have and doesn't want another great president." gentlemen, thanks for coming on. >> pleasure. >> glad to be here. >> aaron, to you first. you detail these three elements that lead to presidential greatness. a crisis, character, and capacity necessary to achieve said greatness. why do you think the president is falling short? >> in a minute. let me make one point. this is not just an r thing or d thing. i voted for rs and ds. this conversation about greatness is an american thing. and the dividing line on this question shouldn't be between left and right, liberal conse e conservati conservative, democrat. we need to start getting smart on reducing and lowering the expectations that

. >> would you debate paul krugman? will let joe scarborough do that. >> he did that here, actually. the idea of having someone who --a liberal economist >> i will debate people i'm running against in office. >> the point is we need to have a serious conversation where we have mutually shared object it's -- objectives. at the same time, understand that nobody wants people to be for or sick. and watched anre interview with the young man -- >> the go pro guide. only in america. >> he did this during the obama administration, by the way. >> i'm not saying that everything is wrong in america. is, we've got some big problems. we have a debt crisis coming. health care is going in the wrong direction. we have a possible energy renaissance that could be fantastic. rhetoric is one thing, results -- >> we are going to be energy independent because of -- >> he should open up drilling on federal property lands, he should streamline regulations, ,e should stop killing coal filled the alaska pipeline, i could go on and on. >> without

krugman called obama "one of the most consequential and successful presidents in american history."we'd hit the pause button for a minute. has it been a successful presidency? what can he do in his next two years to leave a bigger mark on the country. joining me now to discuss this is robert george of "new york post." and jonathan alter is back with us. the paul krugman, as we know, has been very critical of a lot of the decisions this president has made now saying not just a successful presidency, but one of the most successful. is that how you look at it six years in? >> i think you have to say it's one of the most successful presidency. >> look what has to happen over the next six years. >> he needs to put a couple big point on the board and immigration reform and something that needs to cement his legacy. anybody who says this is a failed president doesn't know what they're talking about. looking at the actual record because in the first two years he actually had more accomplishments than say bill clinton did in eight years. if you're just looking at it -- >> he got health care

>> i agree with sean that the rolling stone piece written by paul krugman is not entirely right or wrong, but i have been on the same page, and this is disconcerting that he is right and i was wrong. i thought maybe a grand bargain to have social security and cut medicaid and the stewardship has been very good and if anything, the stimulus should have been bigr, but it is not something to blame on obama, and we have come out of the recovery far, far better than -- the recession far, far better than europe or any other place in the world. health care is absolutely transformative and i have got as you know, a daughter who is turning 26 and all of the friends now can move job to job to job like they love to do without worrying about, you know, how are they going to transport the health care or the pre-existing conditions. this makes not only for healthier people, but it makes for a much better economy, because you have much more fluidity in the workforce. >> i have a e feeli -- i have a feeling that you will get a disagreement here. >> one question, fareed. kind and lovable leader, and the

david: anthony, if you're concerned as janet yellen and paul krugman about the divide between rich andr i have an answer. of ronald reagan. back in the 1980s he had across the board tax cuts for the rich all the way down to the poor. everybody got a tax cut. look what happened after 10 years, the bottom 20%, the poorest americans, their wealth increased by about 12%. the top 20%, their wealth increased by about 12%. so, if you want to make things even-steven, how about across the board tax cuts? >> i don't know we'll ever get economy is not like it was in's. the '80s but makes perfect sense more money middle class americans have in their pockets, easier it is for them to invest and get back in the markets. as to how much this actually really, this gap that affected income inrequality, i think more important thing to look at returns on education are increasing and that is driving any kind of gap. what we saw in a lot of this data that people with better educations were, they were more likely to say, i can ride this through whereas people with lower education didn't. the better eeucation

. >> reporter: so, a rational market response to ebola, says nobel laureate economist paul krugman. >> of course it's disrupting the economies of west africa. why would you be surprised if the prices of goods coming from west africa go up? and if it's true, that yes, we don't, yet have a shortage, well markets are supposed to anticipate that. >> reporter: but wait: the ivory coast remains ebola-free and is actually ramping up its exports to take advantage of the price rise. and high-end cocoa comes from other places as well. in africa, maybe, but so what? >> africa is such a big continent. >> what's happening in west africa is not happening in east africa, what's happening in madagascar. >> reporter: madagascar, an east african island almost exactly as close to liberia as miami to the north pole, is where salvator volunteered for the peace corps, and then helped start a business to boost the local economy. madaycasse now makes chocolate from start to finish in madagascar, distributes to the u.s. from williamsburg. its face-to-face way of doing business buffers it from the commodities

. >> you just saw paul krugman on this program. and he talked about his own sense of the global economy and financial reform and the stock market and demand and how europe was different from other places. and you said, well, the two of you differ, he was very complimentary, about the book, and the new york review books. but you said you differ in three ways. what were the three ways? >> well, we differ in some ways. i think the most important point is this. that sort of one aspect of the way you approached this is to look at how the crisis occurred. and to invent a way to prevent such events. and that's a very big focus of pie book. and i think he agrees with the analysis as he said it in his review of how it happened. but he is more optimistic, at least that's the sense i get, of our ability to cope with economies after crises hit. and though he's disappointed with what happened, he thinks we could have done much better easily. i'm much more skeptical for both political and economic reasons. so i have put a lot of weig on the impo