mr. paulson, mr. yep, anybody else who would like to speak during public comment please come forward. >> good afternoon to the government audit and oversight. i want to say happy retirement quickly to mr. harrington, you've only begun, mr. harrington, to fly. ♪ so many roads to choose. ♪ you'll start out walking,fjpi" mr. harrington, and learn to run. ♪ and you've only begun, begun. mr. harrington. and i just know -- ♪ you can feel our water lies, and the budget won't take a dive, through flood -- a budget million streams, with this motion. ♪ and you can fill our water live, and fill our water dreams, to flood a budget million dreams and streams and money of emotion, with this item 4 motion >> supervisor elsbernd: thank you, walter. mr. yep and any other member of the public who would like to testify please line up or this will be the last commenter. >> douglas epi. douglas yep. i would like to thank the new audit committee, in my opinion the old audit committee had far too many cancellations and wasn

mr. paulson were trying to protect main street, that is not true. why put him in charge?lped citi, you help main street. it didn't work that way. i disagree with that. i don't know. i'm not going to go back and do the he said and she said type of thing. >> i will. >> you will. i think as i said repeatedly, i think he did what he thought was right, but he has a wall street centric you view of the world. i think he thought helping the big financial institutions that that was going to the broader economy, and it just didn't work out that. >> no. bad strategy. >> no, it did not. it did not. >> listen, my final question. after reading your book, i don't think there's a person on the planet more qualified to replace bailouter in general, mr. geithner. if offered to you, and i know there isn't a chance there would be because you'd do the job well, would you ever accept being treasury secretary under this administration if offered to you? >> i think that's a job under any administration that if the duty called, obviously anyone in their right mind would accept. i'm not looking fo

let me tell you about president xi, very pro-market and said to be a good friend of hank paulson. mrch more of a statist, a populist and he's the premiere, the incoming premiere and far more interested in social wed fair awelfare and, t different types of thinkers at the top. remember in china they don't have parties. instead what they say is one party, constituencieconstituenc. two ways to think about it. we know there is a battle going on about just how much more they should do with free market reforms and theria a plan to get rid of state-owned enterprises to modernize the financial system and let interstates flow and modernize agriculture and those are two areas where private equity firms are interested in, will will they keep those going? we don't know for sure. this will go on for eight day asks we won't eat anothget anot of video until the end. it will be very important to the united states because if they don't continue free market reforms, economists think they won't grow as fast and if they don't grow as fast it will be det rimal to the united states. >> let's bring in a bi

the risk would fall and somebody else and hundred paulson mr. interesting memoir with a telly went to china for the olympics and told the chinese finance minister something might come you see i told you i take your review. any other questions? one in the back here and then will come to you in the front. >> hi, david carrier, national association of credit unions. i'm curious who you feel should be securitizing mortgages and if you feel it is the banks, why should we trust them after what just happened? i'd like to hear from each of you on that one, thinks. >> were you trying to direct that to somebody in particular? >> to all three. >> up, we would be the first crack in and keep her other comments brief however. >> i would say it doesn't matter so much to does the securitization. i would be in favor of trying a rule or loans going into securitization have to meet certain commonsense standards. other wants that don't meet those standards could be made, but they would have to be kept by the lender. the securitizing could be a public utility or it

mr. barofsky, you worked with henry paulson, treasury secretary, for, what, about a month, month and a halfhyme getter in over the year -- geithner over the years. what was your relationship with the two gentlemen? >> guest: well, secretary paulson, it was a much shorter period of time. i found him very candid with us and very accommodating. you know, he swore me into office, i put my hand on the paulson family bible and took the oath of office. but almost immediately, right from the beginning, he was very solicitous. he really wanted to hear where i was coming from, wanted our input on -- at that very meeting asking about the auto bailout and sort of what types of protections we thought would be necessary to protect the program from fraud. now, with the treasury department we had some serious tension as we were pushing for more transparency and more conditions, they were certainly pushing back. but personally, i did find that he was interested in what we had to say. and as one of his chief lieutenants said, he wanted to make this work. our rich with secretary geithner was -- relationship w

mr. xi is very pro-free markets, comes from the southern part of the country where most of the reforms have happened, very pro-western, good friends with hank paulsong to continue to play out at the highest level and are they going to do things in here that are extremely controversial, like get rid of the state-owned enterprises. are they going to finally let interest rates -- >> that is a long way down the road, getting rid of the enterprises. >> they're pretty good capitalists already. >> they've gotten rid of a lot of state-owned enterprises. >> do they both leave office billionaires? they do that on their known. >> that is one of the reasons why there's been so much turmoil in china, billionaires behaving badly. >> the tv sets just went blank in shanghai. >> the minute i started talking, the whole country if anybody's watching us. >> is there a sense that one this is a power struggle and one side will win and the other side will lose or is this a compromise? >> i think it will ultimately be compromise. this plan, it's charming the title, a plan for harmonious society. within it, there's a lot of things that will cause a lot of disharmony. they