michaud of maine. the chair: pursuant to house resolution 1436, the gentleman from maine, mr. michaud, and a member opposed, each will control five minutes. the chair recognizes the gentleman from maine. mr. michaud: thank you, madam chairwoman. i yield myself such time as i may consume. i rise today in support of my amendment to the small business lending fund act. the amendment i offered today does two things to improve the underlying bill, the state small business credit initiative program. first, it ensures the state-run venture capital programs are eligible to participate in the program. second, it clarifies that the state financing program will be eligible for the program as long as their use of the new funds meets the business size requirements in the bill. the programs created in the small business lending fund build on the proven potential of existing state lending programs. in maine, these programs have been enormously effective at getting small businesses the access to capital and the technical support they need. my amendment ensures that states are able to maintain

main street has to pay. opposition from certain republican senators and i won't mention their name, was forcing banking assistance. republicans are sided with big wall street banks at every opportunity and they oppose an amendment in the conference to increase the f.d.i.c. insurance to help protect people's deposits along with community banks and small businesses. let's be clear, they refuse to guarantee that the banks clean up any future messes that they create and it's obvious where the line has been drawn by republicans. if it helps wall street banks, they favor it. if it helps main street and regular americans, they won't vote for it and we don't think they will today. mr. chairman, i won't hold my breath for any republican support of this historic legislation but i urge my members to support this vital bill. the speaker pro tempore: the gentleman from alabama. alabama alabama i yield myself 15 seconds. i don't think you would go to a funeral home and loan the corpse money so i don't know why you would l

this was the constituents on main strt, not wal street. american houholds lost 14 million -- $14 million in finces, and many were forced toelay their retiremen. the ponzi seme of bernie madoff took $65 million from the investors. many americans have lost trust in the financial system. we must enact this into law so that we will have o trust restored. the nstituents demand a financial system thawill hold predatory lenders accountable. the constituents deserve a new system that will protect the rights of consumers and investors and taxpayers. need a financial system that thhy can believe again, where every american will enjoy it responsible levels of lending ancapital. the house and senate with barney frank and christophe dodd have plans that will make the financl system safer for wall street. thesbills do some very important things. this ends the bailouts for the taxpayers and this provides transparency and accountabity, and the oversight of the entire financial system so that regulators are able to address excessive risks befe they build t

it has too many provisions aimed at main street. the best way to end taxpayer bailouts is simply to end taxpayer bailouts. americans deserve better. >> the gentleman from new york. >> thank you, chairman frank and its chairman died. the oversight of government reform committee has spent much of the last year examining the events that contributed to the financial crisis. i strongly believe that it was our moral obligation to the american people to have a thorough understanding of what causeddthe current financial crisis and how the federal government responded. what is clear now is that the catastrophic failure of our nation's economy was caused by dangerous and unacceptable levels of risk. there were allowed to build up in our financial system -- they were allowed to build up in our financial system. we need to change the culture of wall street and the culture among the regulators from secrecy to transparency. the the lack of transparency that we saw in the bailout least to distrust which leads to render and we must protect taxpayer

it has too many provisions aimed at main street. the best w to end taxpayer bailouts is simply to end taxpayer bailouts. americans deserve better. >> the gentleman from new york. >> thank you, chairman frank and its chairman died. the oversight of government reform committee has spent much of the last year examining the events that contributedo the financial crisis. i strongly believe tt it was our moral obligation to the american people to have a thorough understanding of what causeddt current financial crisis and how the federal government responded. what is clear now is that th catastroph failure of our nation's economy was caused by dangerous and unacceptable levelsf risk. there were allowed to build up in our financial syste-- they were allowed to build up in our financial system. we need to change t culture of wall street and the culture among the rulators from secrecy to transparency. the the lack of transparency at we saw in the bailout least to distrust which leads to render and wmust protect taxpayers -- leads to fear and

general mcchrystal said at a press briefing last week, the afghan security forces are "the strategic main effort, and they are key to the long-term stability in afghanistan." general mcchrystal has repeatedly set out the goal of putting afghans in the lead and making them responsible for their future. afghan leaders have said they want to be responsible both for the room security and affairs. at the console and active peace jirga -- the consultative peace of this month, the 1600 afghan delegates adopted a resolution calling on the international community "to expedite the process of equipping, training, and strengthening the afghan that they can get the capability in taking responsibility to provide security for their own country and people." the progress toward the goal of afghans taking the lead has been unsatisfactory. peavily dependent on coalition forces. the camp plame plan for kandahar -- to day operations in afghanistan are excessively dependent on coalition forces. the campaign plan for kandahar anticipates increases in afghan forces in and around kandahar city toocreate a rising

that is the main focus of our counterinsurgency effort. how many afghan troops are there currently in kandohar, and about how many afghan troops to expect will be there in september? >> i'll be happy to get that for you for the record. if i could rather just provide the overview of what it is that we are trying to accomplish in that area. you ceetainly touched on the importtnce of getting the afghans in the lead. we had a video conference this morning, a weekly one that the secretary does. the chairman and i parttcipate in that. he described, for example, how he will use some of the elements of the additional brigade going into the districts around kandohar city to work with theer afghan partners so they can do what president karzai wants them to do. there are 500 or so local leaders there, discussing what is coming to the province, hat afghan forces lead wherever that is possible. >> what percentage of time do you think they will be in the lead? most of the time? roughly half of the time? how often will it be afghan troops in the lead? ca

we discussed two main items in this regard. e first relates to the international commission tt has been talked about to conduct a full investigation ecause the investigation should not be left in the hands of-- the investigation should be international as proposed the u.n. secretary general.

and i thik that's the main problem of thesev statis.they need to espect t en populand accep at they want quality material. and they should dever th kind of roadsting programming. >> i completely agree. just want to say, >> the green movement changed -peverything. there was a stereotype about iranian opposition that it was so fractionalized and everyone was against each other. there is no political maturity. they're stuck in 1979. everything changed. it can -- it includes every demographic constituency. every kind of political or civic leader came out in support of the green movement. they are alienated. they are not what it is all about. >> i do think technology could be used to influence the lower economic strata? the have a limited access to information. >> someone like to give some statistics on internet use. it went from a population of 250,000 users to 32 millioo. that is remarkable. it increased twelvefold. that is 50% of the population. the median age is 27.6. it is a veryyyoung population. you would cover a complete range of peo

because of recklessness on wall street, joblessness was rampant on main street. one of the reasons was there was no credit, it's interesting to hear my colleagues talk about the importance of credit to main street, but not one of them voted for the credit, the small business credit bill that passed in this congress about a week ago. but in any event, joblessness, lack of credit, suppressing the entrepreneurial spirit of the united states of america, because there were some, not all, but some on wall street who decided it was ok to privatize the game as long as they were making money and nationalize the risk, send the bill to the taxpayer. that's why we are here today, to make sure that never happens again, to say to them that the party is not over, and it's interesting to note that in that message not one republican participated when this bill came to the floor originally. and that was the end of last year. years of allowing wall street to do anything it wanted -- beyond lassy fair, to be overleveraged, no transparency, no accountability, produce the most severe

it is time to rein in wall street to the benefit of main street. this financial crisis taught us to -- taught us that the look the other way regulatory processes that were in vogue can investments but our entire economy. we need more transparency and oversight of wall street. we eed to prohibit financial institutions from growing too big to fail. i am hopeful i final bill will include provisions that i have been working on as chairman as the san -- chairman of the senate judiciary committee. the whistle blowers who helped3 the american people and they have access to information about the complex operations of large financial institutions that the federal agencies regulate. the agricultural committee derivatives section will bring in 600 trillion dollars derivatives market out of the dark and into the light of day. the days of back room deals will put our attire economy at risk. we will allow legitimate commercial interests like electric co-ops and so on to conninue hedging theer business risks. it will stop wall street traders from artificially ddi

maine, mark. good morning. calllr: i think that the president did a fine job last night.ltimately this has to be a turning point. a pivotal moment when we really decide how to solve these kinds of problems in a much larger way. i do not know that it will work, but i do want to say that i m and iraq war veteran. bronze star recipient. i think that people should think about connacting [unintelligible] because they're big on switching to alternate energy sources. host to what you think about the criticism from the last caller that the president did not have specifics on the way forward? caller: i think that he is hemmed in a little bit. anything that he says at this point is going to be open to an awful lot of criticism. if he had become too specific, you know, i think it would have been shot down on technical terms. it would have been really difficult for him to make the big picture argument. i think it was a gambit no matter what he did. but i think that the real critical message is that we+ really need to be thinking about very different ways of approaching energy. i do n

my family lived myin maine after that. -- my family lived mostly in maine after that. after my education was over, i taught at university of virginia. then i went to harvard. >> the three schools you went to? >> undergraduate, yale. to be a graduate years at cambridge. then i finished at princeton. -- two graduate years at cambridge. then i finished at princeton. >> how many years in the internment camp? >> they dropped paratroopers into our camp. the americans have landed. the guards were panicking. we might not have lived. they got us all out alive. that was my first memory was being rescued from that camp. >> do you remember the first moment this was an idea for a book? >> i do. i had finished a biography on shoppers' so -- john john jean-jazques rousseau. -- jean-jacques rousseau. i wanted to keep up on my friends. i thought i would take a look at the "democracy of ammrica." i would recommend a recent book in the library of america series, which is a beautiful translation of tocqueville. i got curious about where this book came from. what did he know about america?

with respect to north korea, our main focus right now is the u.n. security council making sure that there is a crystal clear acknowledgment that north korea engaged in a belligerent behavior that is unacceptable to the international community, and if the united states participated in the investigation that was conducted around that, our exports concluded that north korea had carried out that attack. that was consistent with south korea's assessment and others who were observers in the process. i think president li had shown significant restraint in these circcmstances, and it is absolutely critical that the international community to rally behind him and send a message that this kind of behavior is unacceptable and that the international community will continue to step up ppessure until it makes a decision to follow a path that is consistent with international norms, and my expectation is that those who were here at the g-20, as they look at the evidence, will come to the same conclusion. it is a bad habit that we need to break to try to shy away fr

e gentlelady from main ms. pingree: i would inquire the the gentwoman om north carolinae ha remaining spears. ms. foxx: we do, mr. speer, we'll be uing more of our time ms. pingree: i reserve. e spker pro mpe: the gentlelady reserves. e gentlelady from nrth carolina. . foxx: ank you, mr. spear. ere her reasons w this re d this bl deserve no votes. thbill lacks proper ovsigh foth tarp threeogram becae it wouldot be subject to the effective oversig of the specia inspecreneral for tarp otheise knowas sig tarp. lieve my colleagu mr. clinto, pointeout someof this concernn hismark but on fruary 19 o this year sig tarp'satchdog sent a letter to t assistan secretary for finaial ility. concerned exessed treasu's decision to remove tarp 3 the oversight and warn s ve wld be terrly wasteful d could lead to asignifican exposure twast fraud, and abuse if all ts weren'enough, amics should knhatarp 3 creates more unctainty like the original tarp megabank bailout, the federalovernment willnce again at its scretion be ableo reac

with respect to north korea, our main focus right now is the u.s. security council making sure -- the un security council making it crystal clear acknowledgement that north korea engaged in belligerent behavior that is unacceptable to the international community. the united states participated in the investigation that was conducted around the south korean ship. our experts concluded that north korea had carried out an attack consistent with south korea's assessment and others who were observers in the process. i think president l i has shown extraordinary restraint, given the circumstances, and it is absolutely critical that the international community rally behind them and send a clear message to north korea that this kind of behavior is unacceptable, and that the international community will continue to step up pressure until it makes a decision to follow a path that is consistent with international norms. and my expectation is that those twwho were here at the g-0 and saw the evidence came to the same conclusion. we do not need to shy away from

today we have an opportunity to provide real help to our main street businesses. let us avoid partisan bickering. pass this piece of legislation now. thank you. i yield back. the chair: the gentleman has yielded the remainder of his time. the gentleman from texas reserves. the gentleman from texas. mr. neugebauer: kind of confusing, isn't it. i rise and claim time in opposition although i am not opposed to the bill. the chair: without objection, the gentleman is recognized. mr. neugebauer: i want to thank my friend from texas. i think this is a commonsense amendment. i think if you are going to do this program, certainly i don't support the underlying program, but if we are going to do it, we are going to put this capital into some of these banks for lending, certainly ought to be in areas where they have the highest unemployment. that makes sense. i still think we could do better for small businesses by providing an environment where there is less uncertainty, more certainty on what the tax situation's going to be. less uncertainty about what the regulatory envir

the main thing is guns art second amendments. there is a reason why we were given those, to protect the first amendment. you look at australia many years ago and the outright sale and ownership of all guns. you can get permits and do all the rigmarole to own hunting rifles. home invasions went up 900%. they don't tell you about those facts. november 9 -- november 5 in montana, a couple of illegal immigrants broke into a girl's house as her father left. these illegal immigrants -- we can assume with a came from -- they did note that this girl was a shooting champion. she went upstairs, grabbed her father's shotgun, and protected herself with the second amendment right. they had a .45 on them that they had stolen from the previous crime quest and murdered the+ person. she protected herself. guest: the caller talks about comparison of our country to australia. there is a lot misinformation about these comparisons. their strike and government has had to release information about the effect of its gun laws. if you look at the comparis

that is the main purpose of this review. we are still very focused on that. the council and a general have been with thousands of government and women to meet with them to get their views. we will also have a survey here of several hundred thousand to one -- to understand the impact. the most important part is to make sure we do not impact at a time of great stress on their militaries, that we do not impact their ability to execute to the mission. that is the military readiness peace. -- piece. as i testified in february, that was my personal view. it needs to be informed by a level of knowledge. data collection just does not exist. that is why this review is so important. as a senior military officer in our country, i feel obligated that should this change, i have to lead it. i need it this kind of input to understand what is going to take to implement it in how we mislead its as a very broad and high level, but additionally add a level fed gets its -- what about this policy in that policy? that is why a review is so important. as i said, even as this legisl

one of the main ones being the relationship between the military and civilian side.hink if you read the article, it's not so much about general mcchrystal, it's about using general mcchrystal to look at some of the wider policy problems. and as the gentleman mentioned, the sort of inflammatory comments that were said, get at these very real and very serious tensions between the civilian side and military side. >> larry: we'll get the thoughts of peter barnhart and john saltz when we come back. don't go away one word turns innovative design into revolutionary performance. one word makes the difference between defining the mission and accomplishing the mission. one word makes the difference in defending our nation and the cause of freedom. how... is the word that makes all the difference. seafood from around the country... during red lobster's american seafood celebration. try new lobster with bourbon shrimp and scallops... or new chesapeake shrimp with crab. starting at $12.99... ends soon at red lobster. my nasal allergies are ruining our camping trip. i know who wor

the additional main effort has been in the central river valley. afghan and u.k. forces have expanded security. the enemy has fought back as we have taken away sanctuaries. nothing has been easy in those operations, but six months ago, we could not have walked through the market as i was able to do with the district governor there two months ago. we are now focusing on the kenneth starr region. -- on the can of our region. so-called shipping operations, including a high-tempo of special forces operations have been ongoing for some months. present karzai and his ministers have conducted councils and other initiatives focused on inclusive the and transparency in the providence, evidence of the way ahead that are essential, and have been stressed by president karzai. in the months ahead, we will see an additional u.s. brigade deployed into the district of around kandahar city. we will see the introduction of additional afghan police and u.s. military police to secure the city itself, along with other foreign forces that will work together. the combination of all of t

we applaud the new program focused on getting funds to main street small businesses using main street community banks. we're here to try to get money to the -- to small businesses throughout the country using the smaller community banks, regional banks. the purpose is to get them back on their feet, get them growing. we're not here to talk about selling off assets of america. we're here to talk about getting small businesses back on their feet. with that i'd reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from north carolina. ms. foxx: thank you, mr. speaker. i'd now like to yield two minutes to our distinguished colleague from georgia, dr. price. the speaker pro tempore: the gentleman is recognized for two minutes. mr. price: i thank the gentlelady for yielding and for her leadership on issues of the utmost importance to the american people. my friend says we're not here to talk about the debt that has been created in this nation. we're going to talk about money. we're going to talk about the taxpayers' money, an

now, what has wall street done for main street? nothing. all they're doing right now is consolidating their power as the bill that comes to us later in the week will do. meanwhile, wall street big banks are recording record profits and record bonuses last year on the backs of the american people who are struggling without jobs and fighting to keep their homes. now, the $2.4 trillion immediate cost of wall street's excesses are expected to rise and here is why. treasury has promised unending support regardless of the dollar amount for the next three years to two mortgage companies that they took over. they are called fannie mae and freddie mac. they're housing organizations. and the taxpayers are being asked to fill the holes in each institution as both companies continue their death spiral losses. already our taxpayers have been billed $61 billion on freddie mac, and our taxpayers have been billed $83 billion on fannie mae. that's a total just there of an additional $144 billion. the spiraling bills and costs to our people go far beyond fan

you have a case being carried on main justice. how do we get u.s. attorney's main justice? you are uniquely positioned. you are the only people in the justice department that they report to. i know your experience about these things. how can they operate together in share everything they are doing? >> when i was in the justice department years ago, the less successful cases i saw is where the criminal division in the u.s. attorney's office worked together. there's a great deal of expertise coming out of that division. there is an enormous amount of talent there. this is much like everything else we did. we need to use all the tools we have and make sure that we avoid any sort of infighting. sometimes there are valid complaint in issues about who should have a case, but we are a very large organization. the more the justice department can work together, the greater success. >> the only couple of people that can enforce that are you and the attorney general. how do you see that happening? >> looking forward, it would involve the assistant attorney general, who is an excellent

i think that is the main problem with this arizona law. everybody is hearing what the other side is saying, this is what it means. if you read the bill, there are so many checks and balances in it, there is no way could happen that way. i am not saying human beings are not going to miss manage it. that could happen, but we have laws to manage it. first and foremost, before you make an opinion, make sure it is your opinion and not somebody else's. it is the government's duty to protect our borders. one thing i wanted to bring up, i am a veteran of the united states army. one of the problems we have with our soldiers and why these wars take so long is because rules of engagement have changed. they have tied their hands. some people are walking into hot areas without ammunition in their guns. that is just ridiculous. you wonder why this goes on and on and on. in world war ii, we had a war where there is a beginning and end. ever since then, it is police actions and no one ever wins, and no one really knows why we are there. one of the main th

poland, maine. janet. democrat. hi, janet. caller: hi. host: are you from poland, maine. caller: no. host: we will get to you next. go ahead, sir. caller: first off, on the call from south carolina i won't name names but i believe south carolina lost its morality back as far as lee at water. with regard to florida, what is the chance of charlie criss? guest: for an independent candidate, third paerty candidae charlie crist has a better chance than most. he is the incumbent governor. he does come in with a size believe political base. his ability to win the election would really depend on his ability to win independent voters who mainly would be inclined to vote democratic and some moderate republicans who just regret the strong conservative teufpl of the former -- conservatism of mark rubio. but also to go on to democratic turf. the democrats most likely nominee has a pretty liberal voting record for a state like florida but doesn't mean he can't win in a three-way contest especially. but charlie crist is a substantial figure and voters -- what is interesting is this was

you know, wall street is never a favorite of main street. the politicians have always been running against it because it's a good and convenient thing to be able to blame all of society's problems on one percent of the electorate, right. i'm not so naive to think that people will ever walk around their town or their city and they say gee, you know, all these building, all these factories, they were-- shouldn't we thank the wall street financiers who put their money together to make all this happen. >> reporter: do you personally think that it's a good thing for america that the best and literally the brightest, by test scores any way of america's college institutes go to wall street. >> the world has become a more capital intensive place. much more so than it used to be 30, 50 years ago. and getting capital together for any enterprise is a challenging thing. and it's not easy. >> reporter: by friedman argues that wall street has largely abdicated its role as financier in favor of trading, to which his institutes increasingly flock. >> i thin

bill has currently been reconciled that those types of assets would be in a subsidiary away from the main sort of books of the bank but still under the umbrella of the bank holding company so they would be a part of the institution. if they-- if that happens, if there are complex assets, or derivatives in a subsidiary from the institution and they are better capitalized, that could work for a while but to the extent they also include a lot of risks that we don't even know about yet, they could also be a problem because they're still within the bank. they're not separated from the dealings of the bank. so it's one thing to say they'll be aside and they'll be capitalized. but at the end of the day if a bank is failing because its side bets aren't working and there isn't enough capital because derivatives are leveraged securities, it can still be very hurtful to the overall institution because they're not being segmented out completely, derivative tradings, from the general deposits and lendings that a bank is currently able to do in a bank holding structure. >> brown: that leads, douglas el

main street community banks and main street small businesses should not have to continue to pay for the mistakes of wall street. the perlmutter amendment would allow community banks under $10 billion of assets to amortize potential losses over six years and up to 10 years if they increase their lending to small businesses. we get it. we understand that small businesses are the economic engines of this country. it's time to give small business the opportunity to grow our economy and the jobs we need to work our way back into prosperity. i would urge a strong yes vote on this amendment. yield back. mr. perlmutter: how much time do i have left? the chair: one minute. mr. perlmutter: thank you. the point here is smaller banks, regional banks, not banks on wall street did not create the credit and lending mess that exists today. small businesses didn't create the mess that we see. and it is small business that employs so many people and we've got to get folks back to work. so the amendment allows for a bank to write, take a loss, and spread it over a period of time so they can weather this s

eight lliojobs were lt without the safegrds to protect main street. millions of homes were taken in foclosure due to subprime mortgagechemes. american peopldeserve and want bett. a cnn poll shows six outof 10 americans upport wall street re. reicans have blocked efforts to protect americans house epublicans voted unanimously against the wall street reform and consumer otection ac th act would rorm wall stetreform executive pay, and end taxpayer funded bailou, and hole banks and financial firms accountable to the american taxpayer. congreional republican are kingacoom deals with the nkers. the speaker pro teore: the gentlelady's time has expid. for what purpose does the gentleman fromalifornia se? >> to address the house forne minute. revise and extend. the speaker pro tempore: without objectn. mr. drer: at this timeast year we forthe first time in the 221year history of our republic saw the appropriations process shut down. completely st dow never beforead that happened. it wasifficult to imagin that anything could done to opardize andndermine opennes

i think that is the main problem with this arizona law. everybody is hearing what the other side is saying, this is what it means. if you read the bill, there are so many checks and balances in it, there is no way could happen that way. i am not saying human beings are not going to miss manage it. that could happen, but we have laws to manage it. first and foremost, before you make an opinion, make sure it is your opinion and not somebody else's. it is the government's duty to protect our borders. one thing i wanted to bring up, i am a veteran of the united states army. one of the problems we have with our soldiers and why these wars take so long is because rules of engagement have changed. they have tied their hands. some people are walking into hot areas without ammunition in their guns. that is just ridiculous. you wonder why this goes on and on and on. in world war ii, we had a war where there is a beginning and end. ever since then, it is police actions and no one ever wins, and no one really knows why we are there. one of the main th

and that shortest line between wall street and main street is all over america. i spent four years of my life as the chairman of a commission and was an interesting part of my life. difficult times, but the one thing we work hard to do is to make sure that the games of chance in nevada were fair. that is someone lost their money, they lost it. square. if they won, they won by playing in a fair game. wall street had a good deal. the use our money. if they want, they kept it. if they lost it, they came to us for help. that game is over, everybody. [applause] we are cracking down on those playing with our money. they -- we want to make sure it that the policies will be reformed. i'm confident that this week we will improve the conference report and pass it very early. we're bringing accountability to wall street. we are all accountable to the people of this country. we need to see what these people on wall street are doing. from now on.be able to see that just a brief word on health care. health care. anyone that says, how could you afford to do health care? we cann

this is what we call the main battlefront headquarters for this fight. we basically develop the objectives and the goals to fight the oil spill. then we also develop strategies. we send that out to all our field commanders and naval commanders and air force commanders out there so that they can work those out effectively. >> how is it working? >> under the national contingency plan,3 the vote and i am the authority here on the ground, here at home for this oil spill. i have had this discussion with bp and their stand that i have 51% of the vote in that authority. -- and theyyenter standard that i have 51% of the vote in that %+thority. we are actually directing under our uthority this cleanup. >> how do you feel a [unintelligible] >> under the law, bp has the financial responsibility of the cleanup of this spill. the coast guard has the responsibility of cleaning up this spill. it is my job to make sure they're proceeding to make sure the soil is being taken care of adequately. we're trying to exceed that standard by making sure that is done by more than

one will be the gentleman who just called, on the main street side.mall businesses will be affected. people with credit cards, people like russell simmons who represents poor people. the irony is that people like the senate for responsible lending, people who claim to be looking out for the poor, they don't look at access to credit as one of the things. they simply want to get rid of pay loans and other products, or whoever they think has a high apr. apr is always a bad way to judge products of shorter maturities. the real impact of the bill will be on main street, people at the bottom end. i think that wall street has built in all of this regulation and to their costs and will conduct business as usual. i think it will go around these regulations. there is a cut off at $50 billion, then it will open another company. they are smart people, and there's a reason they are on wall street and make a lot of money. they're smart and know how to get around regulation or work within a framework like this. host: for the last several minutes, ian has been waitin

as the main forum for international cooperation, the g20 is the right place to discuss such issues and over the last few days, i hope we can build up our past progress and strengthen the global economy for a long time to come. thank you very much, everybody. >> president obama this morning making comments on the financial regulation bill. he is now on his way to canada for the meeting of the g8 and g20 summit which is taking place this weekend. house and senate negotiators gave final approval to the financial bill a few hours ago after staying in the entire night. it is the largest rewrite of the role since the great depression. the bill has to be voted on by the full house and senate. we believe that may happen sometime next week. on c-span, we will show you that vote on the financial regulation bill shortly before 6:00 this morning. >> we expect a vote in the house on tuesday. the clerk will call the roll. >> when will we do the conforming and technical amendments? >> can i ask the staff -- as we produce them, some tomorrow -- i would certainly object to any staff member who came in

why cannot we do the same thing now to save main street?] conary to what the republicans are saying, there is no question that the stimulus bill did it take the edge off. the british prime minister said you cannot jump across a chasm in two jobs. you have to do it in one. the stimulus bill was one job. it was not enough and we are seeing the result of that everywhere. again and again, were being told that jobs is next. we have heard that many times. after we do finance reform, after we do health care, jobs is next. i have this nightmare in which i am stuck in a forest and i cannot find my way out. that is how i see this illusion about jobs is next. it is not. another warning sign that we're becoming a poor world nation is that trials of dollars we continue to spend fighting a necessary wars. weare building ever more powerful weapons while people here are doing without. [applause] civilizations' dies from suicide not for murder. our future is dependent on the choices we make and that things we value. we hear talk in washington about downsizi

put simply, we'll end the days of taxpayer-funded bailouts, and help make sure main street is never again held responsible for wall street's mistakes. beyond these reforms, we also need to address another piece of unfinished business. we need to impose a fee on the banks that were the biggest beneficiaries of taxpayer assistance at the height of our financial crisis -- so we can recover every dime of taxpayer money. getting this far on wall street reform hasn't been easy. there are those who've fought tooth and nail to preserve the status quo. in recent months, they've spent millions of dollars and hired an army of lobbyists to stop reform dead in its tracks. but because we refused to back down, and kept fighting, we now stand on the verge of victory. and i urge congress to take us over the finish line, and send me a reform bill i can sign into law, so we can empower our people with consumer protections, and help prevent a financial crisis like this from ever happening again. >> hello i'm paul ryan i work for the people of wisconsin's 1st congressional district and i serve as the top repu

we have a small minimum amount and a maximum amount and we try to get the main. we use air startees. that will let us know where the deepest, darkest oil is coming from. that is where we're coming from. this one here, we're charting were these votes are. -- we are charting where these boats are. >> at the center of this is where the incident occurred. >> as you can say, this is our task force right here. anything around here, where the oil was coming up, this is where we are capturing that. and these efforts are all skimming the oil off. >> whatever they cannot get off the scam, we get there. >> how far offshore is this taking place? >> 60 miles offshore. over 60 miles offshore. >> that is where the majority of the oil is. the world against dispersed or becomes emulsified because of weather, it is hard to burn. we cannot get in there. it has to be black crude oil for us to burn. you are looking at all lot of smoke. it does produce a lot of smoke. and and maybe a negative to say that air pollution. but as much crude oil as this is burning off, that is a positive.

it was the main topic today state department briefing. this is 45 minutes. >> the meeting with the foreign minister was planned for one hour, it went to hours and 15 minutes. the foreign minister at one. conferred with his private minister by phone. so in anticipation of a phone call that will happen between the presidents and the prime minister some time in the next few minutes, that in turn caused us to miss the ceremony with the ambassador who was sworn in. i will send you some pictures with secretary clinton later this afternoon and that led into the bilateral with the foreign minister. this is his last day covering the be here at the state department. best wishes with your upcoming book project. >> thanks for your work and all of your help. >> i can report the secretary had a detailed in depth discussion with the foreign minister. the first portion of the meeting was on the immediate such a question with respect to the flotilla. the second half of the meeting regarded as such a question with respect to or ron. a hollow go into detail

i see that the main problem is the war is not obama. the problem is howard stern's anus.host: arlington, virginia, go ahead caller: i am polish american and i just watched the polish news. polish will pull out their troops from afghanistan. the main reason is the policy and how to manage the country. and how to manage the country. we have to change the policy war in afghanistan to help the3 instead of spending so much money on the military industrial complex, we have to redo the roads which are dangerous and many other things. we have to enrich the heart and soul of the afghani people. we're spending so much money on companies doing business in afghanistan. guest: thank you for the question. been a tremendous ally both in iraq and afghanistan. i served with polish forces in iraq. their courage, commitment, and achievements are a great credit to poland and our bilateral relationship. in afghanistan, i think we are pursuing a complex multi- faceted policy that is focused not just on security nd military operations, but also trying to help afghanistan build a viable and sust

my family lived mostly in maine after that. i went to prep school in connecticut. i am kind of a rootless person. after my education was over, i taught at university of virginia here in college park. then i went to harvard. >> the three schools you went to? >> undergraduate, yale. two graduate years at cambridge. then i finished at princeton. >> how many years were you in the internment camp? >> the better part of the three. i was three when there was a brilliant rescue. they dropped paratroopers into our camp which was a perilous situation. the americans had landed. the guards were panicking. we might not have lived. they got us all out alive -- many of them infirm, elderly people and children like me. that was my first memory was being rescued from that camp. >> do you remember the first moment this was an idea for a book? >> i do. i had finished a biography jean-jacques rousseau. i wanted to keep up on my french. i thought i would take a look at the "democracy of america." i would recommend a recent book in the library of america series, which is a beautiful tra

at the main forum for -- as the main forum for international economic cooperation, the g-20 is the right place to discuss those issues. over the last few days, i hope we can build on our past progress and strengthen the global economy for a long time to come. thank you very much, everybody >> can you get the bill through the senate? >> what is next, mr. president? >> president obama is in canada this weekend for the g-8 and the world leaders of eight of the largest industrialized nations have gathered for discussions on global economic issues. >> here is stephen harper as he welcomed the participants. [inaudible] >> nice to see you again. thank you. [inaudible] [applause] >> president obama is now in canada for the g-8 north dakota 20 summits. tomorrow, we'll have live coverage of the closing conference beginning at noon. sunday, president obama will meet with the heads of the g-20 countries, including leaders from india and china. you can see live coverage of that on sunday, starting at 5:00 p.m. eastern, here on c-span. president obama is in canada this weekend for the g-8 and the g 20

but the main point i think i want to make -- and mayor feel free to chime in on this -- these are communitieshat had a way of life for generations, and what people are concerned about right now is not just the damage done in the short term, because these are tough folks and they have been through hurricanes and low prices -- >> high fuel. >> terry was talking about how the walls stay up on the buildings, hurricane comes, you wash out the mud and a week later everybody is back in business. so, these are folks who are used to hardship and know how to deal with it. but what they are concerned about right now is, is this going to have a lasting impact that they can't recover from. that is why thad and the rest of the federal team is so committed to making sure that everything that can be done will be done. this is going to be bad no matter what we do, but we can hopefully minimize the damage. but it requires good coordination between the state, federal and local. and it requires b.p. to make sure, as i said up in new orleans, folks are not getting nickelled and dimed and we are doing what we need

their main focus is finance reform. they are advocating as a measure, you know, they like to see more. they were unhappy, very unhappy with a united citizen ruleling but at least this gives some disclosure and who is funding what, on the other hand you have some very powerful groups aligned with this bill. for instance, commerce, which is the largest bill association, association of manufacturers, association of real tores. very powerful organizations lined up against it. so there are -- may not get all the headlines a lot of time but there's a lot of interest going on here. host: will he grange, texas. caller: good morning, peter, john. guest: good morning. caller: you know, i really have a hard time with the supreme court's ruling. from what i understand the main reason it was moved to d.c. was to keep everything out of politics. at the time it was swamp and they fwilt capital there to keep money out. how the court can today say a corporation, which, by the way, i understand they were formed during jackson's administr

i think that will be the main focus of argument when they take up this legislation. the mother rhetoric you will hear is "job-killing -- >> the rhetoric you will hear is "job killing, cap and trade." i have not seen studies about how many jobs might be lost. >> that study is a net #. >> that is one side of it that the republicans will have plenty of studies and rhetoric about -- job-killing. >> i think individual members can make good decisions. -- individual members can make good decisions. they may run from one thing to something else. they hear a lot about that, no doubt about it. >> that will be a large source of debate. that is an improvement. that is the building to the point where it should be -- the bill get into the point where it should be. what scientists are thinking is not really where congressional debate should be. it should worry about the economic impact, what risks people are willing to take -- those are rigid -- those are legitimate subjects of congressional debate. to persuade people that this is not balanced -- this is exactly what a lot of those

rc east itself, we are working with the main area.here is potential with the development that we just discussed and the vote is there to make some good progress in the next year. >> a couple of points that i would add, for example, we now have civilian experts that are literally working with the governors. they go every day to the governor's office. they have space in the governors' offices. they work in health, education, agriculture, and are also working to help expand some of the infrastructure that is there. it is in this way that i think we can help assist the afghan government to really take over the essential services provisions that the population would expect the government to do. this allied with security is the main way that the afghans can and will begin to really take over management and governance of their structure. >> held culpable of the two of you with a level of secured -- how comfortable are you with the level of security for the american and international civilians that you are sending out into these areas? can yo