mr. greenspan certainly in the last five or six years was a dictatorship and the federal open market came together. mr. greenspan gave his expos i of what he thought was necessary and then he asked whether there any questions. i mean, bernanke, the federal market community, it comes together and it is a sixth point out. bernanke a space as the last person which is very different which gives everybody the opportunity on the committee to express his views, and expressed news without not having to be afraid to be bashed by the chairman who is said that time a kind of an untouchable person. >> can you tell us so little about bernanke background, i was surprised reading the book he grew up in south carolina, rural south carolina. >> and he seemed to have been a very good student which is not i think that remarkable given the remainder of his career. he went to mit, harvard, got his ph.d. from mit, and then quite quickly moved over to princeton and practically all his research has been related to the great depression. and more specifically the mechanisms through which the line into a crisis, th

mr. greenspan, he is not being covered. not only on msnbc but fox are anybody, they are showing the courtesy because he was married to her, but this gentleman was a big reason, in my opinion, why the economy full of the way it did. host: i will ask a question to john taylor for served in the bush administration is here to talk about the fed. thank you for your call and your observations. two other headlines from another tweet your phone call. the newspaper -- dams ignore obama cut. congressional democrats are largely ignoring president obama's $19.8 billion in budget cuts. the present proposed axing dozens of programs that is said or inefficient or ineffective. but members of the house appropriations committee are including more money for them. according to "the washington times" is the story but senator patrick leahy courting a challenge. as chair of that senate judiciary committee. at one point, of the 19 men and women who sit on the committee, six are prosecutors come a dynamic