mr. buffett, if he was a debtor in possession, i assume the treasury would as well. >> and we did what we thought were the best financial terms for the taxpayer and for the country in that sense. again, those judgments were overseen by a bankruptcy judge. >> let me move on. t the -- we -- you've made some references in your testimony to regulatory reform. one criticism of a program which i personally believe is a pretty serious and positive program that the administration has put out is the krit sim that it doesn't really deal with what structurally went wrong in our banking system and financial markets in that it doesn't deal with the combination and risks associated with investment banking in particular proprietary trading combined with commercial banking and insured deposits. i'm particularly concerned about this problem. to go back to my prior question, because of the zombie bank problem. if you have very weak financial institutions, particularly ones that think they have an explicit or implicit guarantee, they've not been resolved. they're really very weak. the temptation to gamble i

mr. buffett, if he was a debtor-in-possession, financer, i would assume the treasury would as well. >> we did so and what we do with the best financial terms for the taxpayer and for the country in that sense. those judgments were overseen by a bankruptcy judge. >> let me move on. you have made references in your testament to regulatory reform. one criticism of a program which i personally believe it pretty serious that they ever put out is a criticism that doesn't deal with what structure went wrong in our banking system and financial markets in that it doesn't deal with the accommodation and risk associated with investment banking in particular proprietary trading combined with commercial banking and short deposits. i particularly concerned about this problem because of, to go back to my prior questioning, essentially a zombie bank probably give you a very weak financial initutions, particularly ones who think they have it explicit or implit guarantee. they've not been resolved. they are reay very weak. the temptation to gammill is almost irristible. can yu comment on your views as to h

mr. jimmy buffett, performing today at the memorial service for walter cronkite.ill clinton just left the stage after off remembrances of the legendary news anchor and plenty of well- known news anchors are there. we saw charlie gibson and others. they are remembering the man who, brought up the phrase, " that is the way it is." bill: new images from the newly refurbished hubble telescope. they will give us the clearest picture we have ever seen of our own universe. phil keating is live in miami. what does nasa say we should expect from these pictures? detect more spectacular and more absolutely stunning and incredible photographs of our universe than we have ever seen before. this was a space walk mission in mid-may. astronauts replaced two instruments and repaired two others. you're looking at the very first image. this is a teaser image released by nasa. the new photographs will be released in about 10 minutes. a brand new one is a photograph of a galaxy, and it is 16 million light years away. bill: that is a heck of a road trip if we can get there some day. re