. >> securities and exchange commission chairman mary schapiro testified before a subcommittee on the agency's 2013 budget. the sec$1.56 billion a slight increase from fiscal year just over 90 minutes. >>> the hearing is going to come to order. thank you all for being here. i'd like to welcome our witness, sec chairman thanks so much for being here today. thanks to my colleagues for being here as well. joe and i decided not to talk baf our teams lost yesterday so we're sad. but it is only the beginning. so hopefully it will all turn out well at the end. we'll be playing each other in the world series, right? anyway, again, welcome, chairman schapiro. the sec has the complicated mission of protecting investors, maintaining fair, orderly and efficient markets and facilit e facilitating capital form ace and not overregulating markets and hindering economic recovery. the committee must be vij plant in our oversight of regulatory agencies like the sec that play an influential role in our economy and have the power to help and hinder american consumers and businesses. since 2001 sec's budge

. >> in a few moments, securities and exchange commission chairman mary schapiro testifies about her agencies bunt request. more about the president's budget request in a hearing about secretary of state hillary clinton. and then federal reserve chairman ben bernanke on the economic outlook. on washington journal tomorrow morning, we'll discuss the president's housing relief program with senior democratic whip jackie speier from california. the executive editor of "the weekly standard" fred barnes will take your question about the 2012 campaign. and we'll joined by michael riley to look at the recent arrests of hackers with the group anonymous. and what risks hackers may pose to a national security. washington journal is live on c-span every day at 7:00 a.m. eastern. well, it is that time of year again where we announce our student cam winners for 2012. for the past few months, students from across the country have been working on their documentaries for this year's contest. 75 winning videos have been chosen. here's a clip of our grand prize winner's documentary. >> the war relocati

luis aguilar has already said he would stand up for this, mary schapiro. with those two votes, we could literally make every american in america to have to disclose this kind of political spending. >> that's why i've been so enthusiastic in supporting your efforts because i do feel it's at the bottom of a tree here. how did the sec react in the one meeting that you've had with them so far? >> you can imagine that the notion of protestors on their doorstep was offputting to them, the sec is not used to a lot of protest, they're not used to reaching in and telling citizens to do your job. we want to blow by 100,000 signatures, we're at 75,000. people should go to elections.com and weigh in now. but i think it's a little unnerving to the sec to say, hey, you're supposed to be a transparency issue. we're watching you because you're not doing your job. we're going to encourage the public to watch. i'm going to see chairwoman mary schapiro in a few days, and i hope she'll say, okay, we're ready to weigh in here. >> what do you expect all of us to do before you m

then securities and exchange commission mary schapiro on the budget request. that's followed by angela merkel in a town hall. and then later nuclear proliferation and rogue states. >> there's a real anxiety within a substantial part of black america when confronting black americans who are successful in the wider society because there's this anxiety that to be successful, especially if you're in a predominantly white setting, to get the backing of white people, to get the trust of white people, what did you have to do to get that backing? what did you have to do to get that trust? what did you have to do to get that recognition? there's this fear that one of the things that you had to do was to betray in some form your community. >> the first sunday of every month, book tv's in depth focuses on the works of just one author. this month, harvard law professor randall kennedy spoke of race, politics and the obama administration. watch it online at the c-span video library. with over a quarter century of american politics and public affairs on your computer. >>> e

i think there were a number of reforms that mary schapiro came in. i think she came in really wanting to improve the kinds of disclosure that investors received so that it's more informative. i think what we have now are individuals who, you know, a barrage with information about financial products but don't know what to do with it. and to some extent a lot of the information that they get is more developed, you know, from a litigation standpoint than it is investor and informative standpoint. what we really need is a complete rethinking of how we deliver information to investors so that they get information that is useful. and obviously the other thung we need to do is to continue to work on insuring that investors are protected. >> can i vote? possible to fit these sortseat. of twitter size thoughts? >> twitter size thoughts? i know that peter -- with me. but we think one of those investor protections in that is holding anybody who gives to a douchery standard of care. >> i was going to say that. i agree with you that one of the things that, again

and in three hours, mary schapiro, member of the securities and exchange commission, talks about the dodd frank regulations law. these fans wrote to the white house coverage continues with a republican caucus and three primaries this month. on saturday, the missouri caucuses will continue determining delegates for the national convention. puerto rico hold its primary on sunday with the illinois primary on tuesday. on march 24, it's the louisiana primary. and in the beginning of april, contests in the district of columbia, maryland and wisconsin. the associated press reports that the republican delegate count found that 495 for mitt romney, 252 for rick santorum, 131 for newt gingrich and 48 for representative ron paul. 1,144 delegates are needed for the party's nomination for president. this count includes republican national committee delegates who have told the ap which candidate they support. federal reserve chairman ben bernanke recently told the house financial services committee that the economy is doing better than expected and that the fed is not planning to do anything now t

year's budget, including congressional testimony from securities and exchange commission chairman mary schapiro, and secretary of state hillary clinton. and then federal reserve chairman ben bernanke on the economic outlook. >> not fighting and dying because they're al qaeda. they're not fighting and dying and sacrificing their lives because they're muslim extremists. they're fighting and zhying because they want the same universal rights and freedom that we guaranteed in our constitution. >> i think if we don't get the international community together in a coalition of the willing soon, we're going to look back and say we not only didn't do the right thing morally to stop innocents from being killed, we missed an extraordinary strategic opportunity. >> i want to make the point that the concerns that senator mccain and you and others have expressed are exactly the concerns of the administration. we're not divided here. and we are not holding back. this administration has led in iraq. we've led in afghanistan. we've led in the war on terrorism. we led in libya, and we're leading in syria. we are

mary schapiro appeared to testify on the 2013 budget accord request. they have requested 1.6 $5 million, an increase from 2012. this is 90 minutes. i would like to welcome our witness. thank you for being here today. thanks to my colleagues as well. a decided not to talk baseball since both of our teams lost yesterday. we are sad but it is only the beginning. so hopefully it will all turn out well acted and. we will be playing each other in the world series. again, welcome chairman shapiro. sec has the mission of protecting investors, maintaining efficient markets and facilitating capital formations' wall not over regulating our markets and hindering economic recovery. the committee must be vigilant in our oversight of for agencies like the sec that play an influential role in the economy and have the power to help and hinder mender -- american consumers and businesses. the budget has increased over 200%. despite this growth, the sec failed to detect a ponzi schemes, the u.s. financial system collapse, and judges question their settlements and regulati

>> well, chairman mary schapiro has indicated she's got some reservations.s bill passed with huge bipartisan support and let's remember where it came from, those of us who wrote parts of this and chuck schumer and i wrote the part that would allow small companies to do an ipo and not be subject to the most onerous regulations immediately, they will over time, but they get a little window to kind of grow into the ability to afford that and we didn't make these things up out of the clear blue sky. these ideas came directly from the president's job council and the treasury ipo task force. it's endorsed by the president of the united states. it's endorsed by all kinds of business groups. and we've seen that the number of ipos in this country have dropped. companies' access to capital has thereby declined, so i think this would be a very constructive measure to help growing company's raise the capital they need to keep growing and to hire more workers. >> so, the concerns that were raised, do you think they are legitimate concerns? >> i think they're really over

needs to be done is with the bandwidth issues because i think there were a number of reforms that mary schapiro came to the fcc and the reason i'm focused on that is because i was a former fcc commissioner but i think she came in really wanting to improve the kinds of disclosures that investors will see so that it's more informative and i think what we have now are individuals who are barraged with information about products than they don't really know what to to do it and to some extent a lot of the information that they get is more developed from a litigation standpoint than it is as an informative standpoint and what we really need is a complete rethinking of how we deliver information to investors so that they get information that is useful and obviously the other thing you need to do is to continue to work on ensuring that investments are protected. >> is it possible to sort of twitter size thoughts? >> peter will disagree with me but we think one of those protections is holding anybody who gives financial advice to a fiduciary -- >> yes and i was going to say that. i agree with you that o

the chairman of the securities and exchange commission, mary schapiro, wrote in a letter dated may 13he product of a bipartisan effort designed to facilitate capital formation and include certain promising approaches, i believe that there are provisions that should be added or modified to improve investor protections that are worthy of the senate consideration. in a banking committee hearing that we held on march 6, 2012, professor jay reiter of the university florida also testified that we should be careful because some of these bills could actually decrease capital formation and discourage job growth. he stated "it is possible that by making it easier to raise money privately, creating some liquidity without being public, restricting information that stockholders have access to, restricting the ability of public market shareholders to constrain managers after investors contribute capital and driving out independent research, the net effect of these bills might be to reduce capital formation and/or the number of small i.p.o.'s." in a hearing before the securities insurance and invest