my name is michael stager, a representative of a political action committee. though i sympathizize with everyone here at the panel, i've found the meetings over the last couple of years in san francisco and other places totally depressing. the budget cuts are absolutely and totally unnecessary. you have a fraud of an economic model, that this economic crisis is based on. the wall street financial institutions, the housing bubble, the dot-com bubble, the derivative speculation was a fraud, known as a fraud. an economist said it was a fraud long before it even started. and the question today is, are people going to september budget cuts as -- september the budget cuts as necessary which kill are are we going to say stop the fraud? what does that mean? there's a bill in congress right now, which i think the city supervisors should pass an emergency resolution endorsing. it's called h.r. 1489. there's an ancient chinese saying, all things under the heaven are for the people. that's what it is. it says screw the bankers who created this crisis and defend the people

my name is michael stager, a representative of a political action committee. though i sympathizize with everyone here at the panel, i've found the meetings over the last couple of years in san francisco and other places totally depressing. the budget cuts are absolutely and totally unnecessary. you have a fraud of an economic model, that this economic crisis is based on. the wall street financial institutions, the housing bubble, the dot-com bubble, the derivative speculation was a fraud, known as a fraud. an economist said it was a fraud long before it even started. and the question today is, are people going to september budget cuts as -- september the budget cuts as necessary which kill are are we