if i had a central clearing house i would open the contract with goldman clearinghouse, morgan stanley to a clearing house and i would have no capital as a customer out the door any longer. i would actually have capital that comes to me. i think it is a very important concept to under the stand when we think of clearing houses this wouldn't in any way increase the amount of capital demanded of the system as a whole because the tremendous efficiency inherent in netting. the other key concept we should keep in mind is price transparency will most favored the smaller less frequent users of derivatives, citadel, the other world's largest asset managers. we can price of the derivatives we commonly trade with a great degree of precision but we have a tremendous investment infrastructure to do so. for smaller companies that's outside of their range of capabilities. but in exchange, a visible exchange traded price gives the cfo of a small company confidence and part of what we want our capital markets to do is to create confidence and all americans that the markets are fair. they are transpare

chase tops the list of banks that have agreed to repay tarp funds, followed by goldman sachs, morgan stanleyu.s. bancorp, capital one, american express, bb &t, and so on. connecticut it on at our independent line, go ahead. caller: thank you for taking my call. it is difficult to rate the president on this issue because because i believe the banks are the ones taking control on this complete control, and they are setting the rules themselves until the people started to scream back. taking back some control and putting more rules and going into more detail about repayment terms and with the money will be used for. no more of these fans to trips or what have you. -- fancy trips. people are feeling sorry for the banks and how much the interest rates are or could be -- as far as being too high, and by god, look at the fees that the banks are charging. they are certainly not giving anything to their customers. for example, the banks that i have currently, they charge and overdraft protection feet and i do not even have that type of account. i think it was overdrawn by 10¢ or something and that wa

>> and morgan stanley it's not even just the ceo. it's any executive they determine has caused harm. i would have gone further and say even if you didn't cause harm if you got money you shouldn't have gotten you should get it back. but that's the role of good corporate governance and compensation policy, not the role of government regulation. >> on the other hand the executives raised their base pay to make up for the additional risk they are taking on so i don't approve of that. >> of course it would be government business if we put it in the legislation. >> i understand that. >> thank. >> why do supported -- i do support when investors have operated in a reckless or fraudulent way. i do support giving investors the right to go for that clawback and even in that manner they can ask for the clawback or the shareholders can because someone ought to get that money back. >> i think this goes to the disclosure issue in the sec's dvorkin 2006 and chairman shapiro's work in this area and i think the white issue is the right question is did

that jp morgan made are nowhere near the scale of most bank competitors, citi, merrill, ubs, morgan stanleyguess what they're not being

the scale of write-offs that jpmorgan made are nowhere near the scale of a city, marolt, ubs, morgan stanley and there was one reason why. guess what? they are not being enforced by capital now. you probably have more questions. thank you for coming along. [applause] >> gillian tett was named business journalist of the year for coverage of the market decline in 2008, she was also awarded the wincott prize for financial journalism in 2007. right now she runs a global market coverage for financial times newspaper. to find out more on the author please go to f t.com. the c-span 2 booktv civics bus is visiting libraries, bookstores, festivals and authors. here are some of the people and places we visited. >> we are with mark bauerlein, author of a "the dumbest generation". you also have a a title that says or don't trust anyone under 30. you put a lot of statistics in your book. a pull out the one statistic you like the most when you have to talk to groups about this particular book. >> i think one thing that happened was the speech i gave at the university of maryland a few years ago, there wer

scomplov exposure but the mistakes jp morgan made nowhere nearby their competitors, it citi, ubs, morgan stanley they are not being forced raise a whole bunch of capital now. you probably got a little bit more questions but thanks for very much coming along or if you want to grab me or -- >> gillan tett?k was named brih journalist for the coverage of the market decline in 2008. she was also awarded the wincott prize for financial journalism in 2007. right now she runs the global market coverage for financial times newspaper. to find out more on the author, please go to ft.com. >> alex storozynski recounts the life of thaddeus kosciuszko who became an engineer in the continental army. mr. kosciuszko worked on victories in saratoga and hevk returned to poland and became commander in chief. the washington embassy hosted this event. it's over an hour. >> ladies and gentlemen, thank you for coming. just to make sure everybody is in the right place, for those of you who thought that this was a public hearing on the bridge, that will be taking place at the d.o.t. headquarters. [laughter] >> this is al

morgan have made are nowhere near the scale up marrow, ubs, morgan stanley, which is one reason why,they are not being able to raise a bunch of capital now. you probably still got more questions but thank you very much for coming along. [applause] >> gillian tett was named trelles of the year for coverage of the market decline in 2008. she was also awarded the wincott prize for financial journalism in 2007. right now she runs the global market coverage for "financial times" newspaper. to find out more on the author please go to ft.com. >> the c-span civics buses traveling the country, visiting libraries, bookstores, festivals and authors. here are some of the people and places we visited. >> we are here with susan levine at the university of illinois, chicago to talk about her book, "school lunch politics" the surprising history of america's favorite welfare program. susan, why did you think it was important to expose the behind-the-scenes scene of the school lunches? >> well, i think that everybody who goes to school in america eats a school lunch and at some point in their life, an

penguins and red wings will state for a stanley cup final tonight at the joe in >> welcome back to espnews. john buccigross, mark morganretired from nfl. he's had enough. he wants to be a broadcaster. look out, morgan. he's coming from your job. >> oh, boy. >> i would start thinking about a new career. >> at least you gave me a heads up. >> that's what i'm here for. >> patrick ewing agrees to an extension with the magic. he's an assistant coach on the team, not a player. channing crowder calls for a truce with jets' head coach rex ryan. morgan, i am not calling for my truce with you, so you can just forget about it. >> our war of words continues? we'll have more of that after this quick break. meanwhile, our top stories on the way. after a stirring comeback, the lakers one win away from an nba title. plus michael vick has been released by the falcons. ♪ (guy) you know, the beer you choose says a lot about you. you want friendly, but not pretentious. classic, never trendy. you want a real american beauty. (woman) are you talking about the budweiser? or me? yes. ♪ i like to know exactly where you stand at all times. yeah