>> larry summers. what he says is working in america, and what's not. first, choose unlimited soup or salad. then create your own pasta with one of five homemade sauces. and finish with dessert. three courses, $9.99. at olive garden. and better is so easy withrning you cabenefiber.o something better for yourself. fiber that's taste-free, grit-free and dissolves completely. so you can feel free to add it to anything. and feel better about doing it. better it with benefiber. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former military members and their families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. >>> u.s. companies are building industry leading planes lie the boeing 777 but some u.s. airports are flying in and out of are anything but impressive. larry summers thinks it's time to

heard of larry summers talk about carried interest and other taxation. will that help?t will help to close unfairness cap, but it is not enough money. it is about $20 billion a year that would come into the coffers if we close these loopholes. secretaryrns me about summers is where has he been on these issues for the past 15 years? nouveausues are not outcomes. they have been around for a long time. they are by design. they are in aftereffect that trickle-down. beginning early early 1980's we said let's-- we enrich the top and it will trickle down which has been disproven. >> it sounds like you're saying a lot of this is political. we will be back with more. >> it will have an ethical impact. >> we wanted to be economic as well. >> welcome back to the g-7 decides how to deal with vladimir putin, and he is not letting sanctions stop him from putting on a show. hans nichols joins me right now from the hague. this is fascinating because it sends a political play for him. he is showing everyone a victory lap. >> is a theatrical play. while vladimir bean is doing that could

it's interesting that larry summers was the graduate adviser. give us the merits of obamacare.ct and we are hearing so much about it from business as well as people from the extension on top of everything. >> i'm glad to be part of creating it. what i can say is it's just too early and it builds on what we accomplished in massachusetts. it's a rare opportunity to tie with the program like this. we did it in massachusetts. the same dates of structure has been successful. we have a 3% uninsurance rate and we fixed the market. it happens over about a three-year period. it's too early to evaluate. the news so far is good. we are signing up millions of people. 5, 6, 7 million people. what matters is that many get the security they need. >> how do you fix that premiums are costing more than we thought? >> we will have the answer. >> the cleveland clinic at the top of the show. >> premiums went up on average 10% a year before this law passed. it's a premium set out in exchange that were 15% below what they would be. starting out to a point where they are priced below where they though

. >> it is no secret that you were a supporter of larry summers for fed chairman.anet yellen got it and she had her first press conference. were you encouraged? >> i think she is doing a terrific job as fed chair. while i would not comment on any particular decision the fed is making, we knew how qualified she was when she was picked. she has really shown those qualifications in everything she has done since becoming chair of the fed. >> where will unemployment be at the end of this year? >> when we did our budget forecast, we projected the unemployment rate would be in the high sixes. that forecast was done in november. there has been a lot of good news. the unemployment came down faster than a lot of people thought. >> do think you could get it under six by the end of this year? >> i expect it to continue to fall. >> wall street is booming. profits are up. wages for the middle-class class and working poor have stagnated. isn't that what republican policy produces? >> you see job creation. the unemployment rate coming down as labor market start to tighten. you sta

. >> a friend of mine met with larry summers, former obama administration -- melissa: treasury secretary>> under bill clinton was treasury secretary. this is larry summers, you can talk about the minimum wage, raising the minimum wage and this other superficial stuff. unless you change what is going on in the, education you will never -- dave: by the way, the one saying that has political clout is rew cuomo, governor of new york. they have a democratic and republican -- >> bob schiller is out of the loom. the democrats are not, most democrats are not in favor of charter schools, one thing that would wrestle the education, so many people away from the lobby. melissa: fed chair -- i miss spoke. thanks to all three of you. some news from iconic american brand levi strauss laying off 800 workers, nearly 20% of its non retail nonmanufacturing jobs over the next year-and-a-half. it is expected to save the company $200 million. at the same time the company is spending $220 million to put its name on the new san francisco 49ers stadium which is set to open next year. see what they did? it is the

. >>> my headline for the day, larry summers amazing assessment of japan -- >> on buzz beater this sundaychristie is exonerated in the bridge scandal, at least >> on buzz beater this sunday, chris christie is exonerated in the bridge scandal, at least according to a law firm hired by his office. and journalists, of course, are skeptical. >> does it make you feel clueless? does it make you feel like, what was wrong with me? >> not clueless, but it certainly makes me feel taken advantage of. >> so there's not going to be any e-mails, no phone records, no tape recordings that come out that establish you knew about this? >> no, because i didn't. >> but what if the findings are confirmed? will the media be forced to rehabilitate the governor as a presidential candidate? >>> it seemed like the missing plane drama was officially over with the official exclusion that it was at the bottom of

sandberg started out in politics, serving as chief of staff for former treasury secretary larry summers before leaving to work at google and then facebook. still to come: digging deeper into a recent pr nightmare at general motors... that's in today's cover story... plus...how apple is trying to reinvent "behind the wheel." and next how car dealerships are weathering the winter! that's next after this in the know message! consumers are warming up to the idea of getting out of the house to buy new cars and trucks. following january's frost bit ---sales numbers improved significantly in february. gm's sales dropped 1% but that was a better showing than forecast by analsyts. chrysler sales roared 11 percent as car buyers put the pedal to the metal to buy jeeps to nagivate harsh winter conditions. at ford, sales fell 6%. but the car company noticed momentum building and exepcts a better seasonally adjusted annual rate. "we're expectiong a significant better month and expecting saar to finally rebound to that over 16 level." jeremy acevedo-- an analyst at edmunds.com, predicts automakers wil

. >>> my headline for the day, larry summers amazing assessment of japan -- >> on buzz beater this sunday> on buzz beater this sunday, chris christie is exonerated in the bridge scandal, at least according to a law firm hired by his office. and journalists, of course, are skeptical. >> does it make you feel clueless? does it make you feel like, what was wrong with me? >> not clueless, but it certainly makes me feel taken advantage of. >> so there's not going to be any e-mails, no phone records, no tape recordings that come out that establish you knew about this? >> no, because i didn't. >> but what if the findings are confirmed? will the media be forced to rehabilitate the governor as a presidential candidate? >>> it seemed like the missing plane drama was officially over with the official exclusion that it was at the bottom of th

the former treasury secretary larry summers is all for it. he says the u.s.risk of becoming a downton abbey economy. >> there are two americas. a set of people who live one way and a set of people who live in another way. i'm struck that it's not just income inequality that has increased over the last generation. if you look at the improvements in life expectancy, they come to the upper half. if you look at educational achievement, the gaps between the children of the affluent and less affluent are rising. if you look at college attendance, you see something similar. we're losing our status as a socially mobile opportunity society. we are seeing increasing cleavages within our population. cleavages in where people live and how people get around. cleavages in the medical care they receive. overall, it's differences in the lives they lead. i don't think that's healthy for the unity and ultimate strength of our country. >> the president of the center writes, let's put all of this in perspective. >> this has been a bad recovery. people hear a lot about the jobs.

look what larry summers said, japan. let's see what the traders said. we go to the floor show at the new york stock exchange. joan, are you worried about japan or is there something else a concerns you, a great day but based on the premises of janet yellen saying the economy is not good, we'll keep interest rates low. >> also, based on the representation the last day of the month, close to the last day of the quarter and we start to see the window dressings there. but yes we are concerned what's going on in japan, with what happened in the middle east. but what i'm focusing more is domestically, earning season, that will be coming up soon. this is our first earning season tapering might have an effect on the companies reporting earnings. we're trying to see the effect on our economy, what is the real effect on public companies that will lift their earnings. if the an they don't set the bao high, the investors won't feel the truth of the nam numbers th. find the truth where it's at a healthy level, yet get a true picture of what's happening in our econom

. >>> my headline for the day, larry summers amazing assessment of japan -- >> on buzz beater this sunday, chris christie is exonerated in the bridge scandal, at least >> on buzz beater this sunday, chris christie is exonerated in the bridge scandal, at least according to a law firm hired by his office. and journalists, of course, are skeptical. >> does it make you feel clueless? does it make you feel like, what was wrong with me? >> not clueless, but it certainly makes me feel taken advantage of. >> so there's not going to be any e-mails, no phone records, no tape recordings that come out that establish you knew about this? >> no, because i didn't. >> but what if the findings are confirmed? will the media be forced to rehabilitate the governor as a presidential candidate? >>> it seemed like the missing plane drama was officially over with the official exclusion that it was at the bottom of the indian ocean. but no, is this tarnishing the media's reputation or giving tv pundits another reason to snipe at each other? >> earlier this week, cnn anchor don lemon brought up the theory that som

henry kissinger, condoleezza rice, lee hamilton, brent scowcroft, paul o'neill, frank carlucci, larry summers, john snowe, henry paulson. this is a bipartisan list of who's who in foreign policy, all saying that this is critical to do. let me be very clear -- opponents have argued that i.m.f. reforms provide no added relief to the ukraine so it's superfluous to this bill. that argument is patently false. the 2010 i.m.f. reform strengthened the i.m.s. that's why they were done. as it relates to the ukraine by increasing ukraine's quota, the reform's -- reforms increase available short-term lending from $1 billion to $1.6 billion and longer term resources the i.m.f. can leverage for the ukraine by up to $6 billion. it also strengthens our ability to shape an i.m.f. support package for ukraine. now, critics say i.m.f. reforms undermine u.s. influence and increase russia's influence in the i.m.f., and they're dead wrong again. we remain the largest i.m.f. shareholder, even after reform. we are guaranteed our executive board seat, and we will continue as the only country, the only country with vet

you saw that when the president wanted to nominate larry summers to lead the treasury.emocrats being against that and the same when he tried to authorize force in syria. >> interesting. thank you so much for being here. >>> coming up next, how do you deal with fixing schools when kids are dieing in the streets. a special sneak peek at the cnn original series chicagoland oig coming up next. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the right tools and resources to get the job done. explaining my moderate to severe so there i was again, chronic plaque psoriasis to another new stylist. it was a total embarrassment. and not the kind of attention i wanted. so i had a serious talk with my dermatologist about my treatment options. this time, she prescribed humira-adalimumab. humira helps to clear the surface of my skin by actually working inside my body. in clinical trials, most

>> there's some thinking out there, which comes from guys like larry summers that long-term, and this is sort of along the license of the lre and new normal idea, growth is lower here in the united states for the long-term, and thereby interest rates are lower as well. i don't know that yellin has specifically bought into that, but there was one line in the statement which said, even when rates return to normal, when the economy returns to normal, rates are going to be below what we believe to be normal in that period. that suggests to me that she may be in line with that kind of thinking. and that may mean, you know, sort of answering ron's question, or the reason for ron's answer is that lower long-term rates may be what's in the cards for the united states. >> all right. gentleman, thank you so much. great to see you, ron. all right, let's get the trading action here. bob pisani is here at post nine on the floor of the nyse. what they took away yesterday, they're giving back today. >> we are getting rallies, though, a two-day rally in two very, very big groups in the s&p 500. i wan

so larry summers led a panel recently that looked at the importance of better health for growth. 20001, larry summers'panel found that as much is 24% of growth was a result of her health. education -- we had the piece of scores. it is directly correlated with economic growth. now we know. the evidence matches our ethics now so that you have to invest in -- >> will you be photographed in your -- do you have a photograph in your office of when you are ?were protesting >> are you building a the washington consensus where economic development is matched with health, education and rule of law, human rights? >> we are specifically not supposed to tell them to matters of politics. people are talking around the new millennium development goal structure that rule of law has to part of the picture. we're focused on economic growth. now that we know that investing in human beings is good for growth, the agenda is much broader. the original washington consensus ideas were not bad ideas. there were not enough. >> what do you call the new ones? >> you can't do this from just washington. we go to so

if we had larry summers in that seat and we are waiting to hear from him today, do you think it wouldl and bold? >> larry is another good friend. he is a fantastic economist and a terrific mind and also someone when ithite sensible comes to looking at the economy. i do not know if he would have been different. than janet different yellen. both of them think about things very different and they would think about the numbers differently. i'm not sure about the situation like the one we have right now, we would see differences. larry's style is quite different. if you had a chance to ask the question today, what would be? >> what would you ask janet? >> i do not think of it after anything. i think it is better for the fed to chart a policy that is not quite as clear. the view about forward guidance and its advantages are a bit overstated. the reason is this. forward guidance is another way of having a rule, like a taylor or other rule for the fed. it is saying, we will lock ourselves into a policy. that is fine as long as you continue to do that. as long as those rules tend not to be cre

formerbe joined by treasury secretary larry summers. coming up next, the ceo of popular food delivery service delivery.com, how he will compete with amazon.com. if taxpayers build it, major league baseball teams will come? the business of spring training. ♪ >> ok, everyone, you are watching "in the loop." i'm trish regan. we could all imagine the potential for growth in this business. meals at work or at home, but what does this mean to competitors of grubhub? question tose this jed kleckner, ceo of delivery.com. welcome to the show. is it good news for you? think any public offering in the space is validating for any company playing in the space, and certainly food is what we do. we activate merchants in the restaurant business. >> but there is a lot of money, so they will be more competitive. >> if you look at the private markets, there will be activity and growth equity. ofwe have seen a lot companies in the tech space, and you guys qualify -- you are a food company but a tech company as well. some have suggested that gettingns are f

imagine, that this time of easy fed policy -- let's not forget that sheryl sandberg once worked for larry summers. she knows quite a bit about monetary policy. can?ke advantage while you to spend.his is time they have done it over and over again. using a lot of stock to take a different stake in the future. i think they recognize a stock is better spent than their cash right now. >> also in a situation where we learn that google is issuing class c shares in order to make additional acquisitions and retain ownership. suggests we could see more acquisitions in the tech space. charlie, does it feel like 1999 all over again? >> we have to look at mark zuckerberg in comparison to a lot of these other people. he has proven in the past year or so that he is a tech mogul, but it is not good enough in silicon valley just to be a mogul. now you have to be a visionary, you need a hyperloop, you need a contact lens that detects diabetes. >> in other words, jeff bezos has set a new standard? >> there is this idea that you have to be more than just a dealmaker, you have to be someone that will alter the course

the billionaire tech executive formerly served as chief of staff to larry summers during the clintonld easily finance her own campaign which would run $30 million to $40le. . stories i argue thinly reported there. but we will see. >> whether she has political ambitions, obviouslyquestion. one wonder why up against bongsbong bongsbongs boxer when feinstein's up in 18 and will be 85 and expected not run. a nasty primary campaign in a democratic state. >> facebook may be losing one of its rainmakers in term of modernization. >> i think it's part of the narrative, she's 44, ambitious, she has been as we pointed out involved in politics in a way, serving with larry summers years ago. >> $1.6 billion. >> made the billionaire's list for the first time on "forbes." following berkshire's shareholder letter, warren buffett sat down with becky quick who joins us with more from omaha. tour deforce, you guys covered everything from bitcoin, coke, ibm, activism. where to begin? >> you know, i thought we'd start out talking about what's happening today, carl. watch the major averages today, investo

larry summers on "street smart." how was controversial.greeley of bloomberg businessweek. we have top headlines this morning. >> riot police have moved in to clear out protesters from the island compound. they took over the complex and demanded cancellation of a trade agreement with china. protesters were dragged from the offices while they used water cannons to break up the demonstration. rescuers are searching for victims from a mudslide in washington, north of seattle. it destroyed homes and killed at least eight people. more than one dozen people are missing. the mud is deep and has slowed down investigations. >> morning movers -- the nsa. the story will not go away. we have perspective on that. >> google. what did you call it? goo-gel? they are trading in the free market. up to 11.87. the cofounder and ceo, larry, spoke with charlie rose. he made comments about government surveillance. >> it is tremendously disappointing that the government secretly did all of the stuff and did not tell us. we cap todemocracy, protect users from the g

cullen, steve hadley, tom ridge, condolence condoleeze hamilton, paul o'neill, robert reuben, larry summers, john snow, henry paulson, this is a bipartson list of who is who in foreign policy all saying this that this is critical to do. let me be clear, they provided no added relief to the ukraine, so it's superb louse to the bill. that is false. the 2010imf reform strength pes the imf. that's why they were done. as it relates to the ukraine, by increasing ewe crepe's quota, the reforms increase available short term lending to $1 billion to 1.6 billion to longer term resources the imf leverages for the ukraine by up to $6 billion. if strengthens our ability to shape a support package. critics say imf reforms undermine influence and increase russia's influence in the imf, and they are dead wrong again. we remain the large est shareholder after reform, guaranteed our board seat, and we'll continue as the only country, the only country with veto power over major imf decisions. meanwhile, the reforms to rationalize the voting structure of the imf to increase buy-ins of economies in a way that e

of our time including former federal reserve chairman ben bernanke, former treasury secretary larry summers and president of the european central bank mario draghi. mr. jer ohm h. paul became a member of the federal reserve board of governors in 2012. prior to his appointment to the board, mr. powell was a visiting scholar at the bipartisan policy center where he focused on federal and state fis kat cal issues. from 1997 to 2005 mr. powell was a partner at the kern law group. mr. powell also served as an assistant secretary and as undersecretary of the treasury under president george h.w. bush. dr. leal brainard served as undersecretary of international affairs at the treasury from 2010 to 2013. dr. bernard previously served as deputy director of the national economic council and as the u.s. sherpa to the g8. dr. brainard also served as vice president of the ber kins institution and was associate professor of applied economics at m.i.t. sloan school of management. mr. gus tap poe velasquez aguillar is currently director of the latino economic development center in washington, d.c. previousl

you're going to sit down in your show with larry summers. growth, if we're lucky 2.5% growth. the unemployment problem continues to persist. we'll get the next unemployment report next friday, so we'll preview that with larry summers. i think obamacare falls into this, as well, because of the uncertainty of the cost of health care and the uncertainty of the tax bite on businesses has business sitting on cash. right now, you're talking about the corporate sector probably being in the best shape that it's been in for a long time because they're sitting on so much cash. the issue is they're sitting on that cash. >> so they're not buying equipment? >> no. they're buying back stock and increasing dividends. they're investing in cap ex. that equipment is basically, oh, it's ten years old at least and they will have to invest in cap ex. that's one place for money to go. but with all of these uncertainties, they don't know what health care will cost them, they don't know what tax reform will look like. they're got making big bits in paying a lot of

he found people like larry summers, people who got on to be policy makers. of them was janet yellen. we went back through our records -- 40 years of our own reporting on janet yellen and the fed. if they want to know who this person is -- she is the most powerful economic policy maker in the world today. who is she? what is she bringing to the job? that's what we try to do in this book. give you an overview of who she is and what challenges she confronts and what her mindset is. host: first call is peter from new york. republican line. caller: good morning, guys. let me rebut this gentleman. my problem with these guests is they all seem to be apologists for wall street. i encourage your audience to read the article, "confessions of a quantitative user" which explains how fed policy is hurting main street and helping wall street. janet yellen is a clone of ben bernanke. the fed says they are trying to control inflation. this is not true. what they're trying to do is control deflation. what they are doing is transferring the cost of goods and services through

and cited larry summers, since he's not going to be famously involved with the factories are, actually recovered himself as an economist and has pointed out that we have permanent unnecessary unemployment and millions people. the reason we have this is the political aspect to what color scheme saying is rich folks don't like government spending money on poor folks, even if it would benefit them, even if it would stimulate the economy and make their businesses more successful at year. the most extreme example recently in japan it is necessary to cut off food stamps for poor kids. i don't know what country the people who did that live in, but it is not one that i want to live in. this is the question he spoke very eloquently, but it seems we have a conflict between the scientific conclusion with the impression you should spend money on poor folks and the powerful, wealthy, political interest, which have created this great environment including the economics profession reaching to reinhardt is coming to pull ryan in congress is going to cite them in alsace and denounce. is there much we c

it cited larry summers says he is not going to be famously involved with the federal reserve, actually recovered himself as an economist and has pointed out that we have permanent unnecessary unemployment -- an employer and the millions of people. the reason we have this, the emperor's new clothes, a political aspect of what is saying is they don't like government spending money on poor folks. even if it will benefit them, it would stimulate the economy and make their business is more successful year. the most extreme example recently is apparently it's necessary to cut off food stamps for poor kids. i don't know what kind of people want to do that, but it's not one that i want to live in. so this is the question. you spoke about it very eloquently, but it seems that we have a conflict between the scientific conclusion that in a depression you should spend money on poor folks. and a powerful wealthy, a political interest which has created this great environment, including in the economics profession reaching to congress. is there much that we can do about this aside from some sort of b

paul krugman in the new york i and and doors koelsk cited larry summers, whom since he is not going to be famously involved in the federal reserve, actually recovered himself as an economist and has pointed out we have permanent unnecessary unemployment of millions of people. the reason we have this is the emperors new clothes. there is the political aspect of what he is saying. rich folks don't like government spending money on poor folks, even if it would benefit them, stimulate the economy. the most recent example is they have cut off food stamps for poor kids. i don't know what country the people that want to do that live in, but it's not one i want to live in. the question is, it seems that we have a conflict between the scientific conclusion of keynes that in the depression you should have money to poor folks and wealthy, political interests, which have created , comingat environment to paul ryan in congress, who liked to cite them and now fights something else. is there much we can do about this aside from some movement from below? is science enough to persuade those who ought t

so paul krugman and larry summers aren't in the room here as far as i can tell -- >> many if they were, we'd be hearing about it by now. [laughter] >> but there aren't any bigger advocates for trying to boost aggregate demand and stimulate the economy than we are, but that's a business cycle issue right now. and what we're talking about is a more fundamental, long-term structural issue. and for that matter, they're not unrelated. as andrew was just saying, these structural issues can lead to the fundamental drop in demand that we're seeing, and so you need to address both of them. >> so you can run an economy with a very small group of the elite up at the top and a whole mass of fairly miserable people down at the bottom. it's feasible, it's just a lousy society, it's a smaller economy, it's not where we want to go at all. and it'll almost certainly have political implications. >> absolutely. >> those tend to be unquiet places as well. >> just to circle back a little bit to your constitution of henry ford and the robots, you did anticipate two questions here. one is whether given what

and cited larry summers, since he's not going to be famously involved in the federal reserve, actually recovered himself as an economist and has pointed out that we have permit unnecessary unemployment of millions of people here the reason we have this is the emperors new clothes. that is, the political aspect of what he is saying. rich folks don't like government spending money on poor folks. even if it would benefit them, even if voted stimulus the economy and make businesses more successful. he's the most extreme example result is apparently is necessary to cut off food stamps for poor kids. i don't know what country the people who did that or want to do that live in, but it's not what i want to live in. so i would yo just say about th, and this is the question, it seems that we have the conflict between the scientific conclusion of games that in a depression if you spend money on poor folks, you should give money to poor folks. and powerful, wealthy political interests which have created this great environment, including in the economics profession, reaching to reinhart and rogoff

it's the larry summers idea that rates are low. >> you have to let the building crumble to the grounds was never a real partisan argument about for frr. about infrastructure. >> you're blowing money somewhere. i no he that. we're spending too much. i'm not giving you a blank check. >> all i'm saying is that it didn't used to be an argument between democrats and republicans where we had to be stewards. business folks tell me all the time it's actually important to have decent roads and communication systems and water systems and schools. >> rebecca, can you help? >> can i help on schools, infrastructure, the economy or markets, joe, where do you want to go? >> i guess we better stick to your knitting. i was trying to fix the world for a second there. you can just tell us whether -- is there anything other than weather which has you questioning whether we did have an uptick in economic growth expected this year? are we on course for that? >> i'm still pretty constructive for the year overall. i think the united states can see gdp growth close to 3, maybe even above 3 if we get a bounce

of this stuff so they own this issue without another one is the wrong players in key roles like larry summers and tim geithner the very people who caused the crime wave were put in charge of cleaning it up and then finally this is the one that i think you have always talked about and that's economic threat as observed last year the greatest triumph of the banking industry was an a.t.m. or even depositing a check by the camera of your mobile phone it was convincing treasury and justice department officials that prosecuting bankers for their crimes would destabilize the global economy yet like this downward threat. i did that we have so much invested in fraud it would be foolish to turn back now and try to prosecute fraud and of course every time they do try to prosecute for the bankers and the brokers whip out their threat to crash the economy and the crash the markets and i've done that a few times to get their way and the politicians of course are invested in these same stocks and bonds and options and they've not going to argue against their own interest having been vested themselves in the

he was the professor of ben bernanke and mario draghi and larry summers and he is considered a rock stars at the international monetary fund. he's held positions at the world bank. he's literally the number -- >> i think it's great that a career -- this guy is 70. >> he's 70. >> the career of a clever person can continue on and have a new fresh, important chapter at 70. that says a lot actually about this country as well as other things. >> and i interviewed him as recently as last year. he's sharp as ever. he has a lot of thoughts about the federal reserve. but haven't really heard from him in this new world of tapering or starting to scale back the monetary easing that everyone wants to know. >> or forward guidance which he wasn't a fan of, was he? >> he wasn't so much but he understands the value of communication for central banks and that's what is behind the policy of forward guidance. we'll continue to monitor and bring in the headlines as they hit. >>> let's get a market flash with dom chu. >> carl, good morning. check out shares of general electric. off session highs, the company

once and for all but what not much is really changed if you look at the robert rubin years the larry summers years the pedestrian years nothing's changed here if anything the system has gotten worse we have an attorney general that won't even prosecute these criminals how do we ever. first say that we can we can tell our broker yes invest here invest there if we don't even know what's going on behind the screen how are we ever safe you deal with these issues all the time the only way i think to enforce is the regulators are always a day late and a dollar short they can't keep up wall street's too innovative they're always finding loopholes that wall street always a day where i'm sorry regulators are always a day late and dollar short the way to fix this is to prosecute the crimes when they happen prosecuting vigorously get real trial authority whether it's criminal or civil both that's number one number two the compensation system the biggest problem here is we pay our c.e.o.'s are senior executives of wall street money to take bets bets with our money they bet with our money and they're com

i had the pleasure this last weekend of hearing a fascinating debate by larry summers, former president of harvard university, a brilliant economist, and another brilliant economist, senator phil gramm, who taught at texas a&m but making the point, senator gramm making the point if we had had a typical recovery after a recession it would have been a v shaped recovery and we did not get that. the economy continues to grow slowly, unusually slowly and they were exploring the reasons for that. a lot of it has to do with uncertainty about the role of the federal government when it comes to taxes, when it comes to regulation, when it comes to our escalating national debt. now over $17 trillion and what that might mean in the future. but add all that up and americans are continuing to feel increasingly pessimistic about the state of our economy, the state of their personal health care relationships with their doctors and hospitals, and the future of the country and that's something all of us ought to be concerned about profoundly. and yet rather than promote real health care reform that actua

larry. >> you're right, bill. in the summerhey lost control and through august and september governors attacked, and they took back control of the market and the yield curve itself, and i think it says a lot -- think about bullard. bullard was on the tape over the last day, there's a hawk, and he's basically trying to dispel what yellen said about the six months. so i think the fed is very, very concerned they've lost control of the yield curve in the short run and they're trying to get ahold of it again. >> so liz ann, if i'm an investor, what do you do? how long is this window that we have here before those rock bottom zero interest rates start to move higher? at least we start to see it in the bond market really take off. >> again, we don't know whether the six-month time frame is going to be accurate such that we might be looking at short rates going up in april of next year. that said, remember, the closer we get to the point that the fed is ready to raise short-term interest rates, i think they will be more comfortable wi

but larry has no idea how often he will soon be looking back at this video. the last one he would take of his boy sasha. it is summer 2012, and maria has planned a summer vacation back to her native slovakia with both of her boys. did you know this family visit was coming, this trip back to slovakia? >> yes, she had done it before. >> reporter: but on previous trips, maria had always come back. not this time. flight 9683 landing in los angeles and they are not on it. >> she was not on the plane she said she was gonna be on, and i just remember thinking, this is so surreal. >> reporter: a mother and her two boys gone. when we come back -- "20/20" on the international hunt for the fugitive mom. the addresses, the fugitive squad launched to find her and the crucial clue from perfect strangers. the video that is about to stun everyone. how she is disguising the boys. when we come back. [ woman ] gorgeous grains at your service. eat right. not less. [ woman ] hi, this looks interesting! what's going on here? would you like to try some hot cereal? [ female announcer ] special k nourish hot cereal. special k? wow! wow! [ f