engle, madam secretary and mr. royce. >> thank you, madam chairman. madam secretary, you and i were talk about joseph coney, who abdomen deducted 30,000 children. the boys he turned into child soldiers, the girls in conqubines and some of the horrible circumstances that we've had with some of the human rights abusers. and likewise, people like victor boot who is now in custody, but a gun runner extreme who as an arms trafficker armed both sides of some civil conflicts. there is a rewards program the department has and i was legislation to expand that to include transnation organized crime to go after people like victor booth as well as those engaged in the worst human rights abuses. and i know that your department is interested in put ago price on the head of people like coney so that we can find their whereabouts and, you know, i know the goal is to take him off the battlefield and we would need that to do that. so we'll have a hearing next week on this subject. i wanted your thoughts, if i could. >> congressman, this is the first time i've heard of

and i wanted to ask about -- >> thank you, mr. royce. >> whether the administration was going to follow through on the elicit activities. >> thank you, mr. royce, thank you, madame secretary. >> the congressman was asking questions to secretary of state hillary clinton as she testified abnorth korea's nuclear program. and again, the headline today in washington in which the u.s. will provide food assistance to the people of north korea in exchange for north korea's agreement to allow monitors inside north korea also scaling back its nuclear program. this is washington today on c-span radio. well, construction funding or maybe more specifically, the lack of it, is a major concern in the department of veteran's affairs and its proposed 2013 budget which includes an overall 10 10.5% increase in construction projects. the budget process in constron

. >> the gentleman from california, mr. royce, is now recognized for five minutes. >> thank you, mr. chairman. i'd like to go back to that chart. government spending is a share of the economy and have that posted. the congressional budget office puts this together every year and they project, mr. chairman, the point at which the general fund transfers to entitlements equal the total tax revenue, you know, for the federal government. i would just ask you, is this projection sustainable? is this situation sustainable? >> no, i don't think it is. and what impact might continuing on this trajectory have in terms of interest rates? say for a minute that the bond vigilantes start to turn on us like they did in europe based on the projections. what potential impact could that have on costs of borrowing? >> well, if market participants are not persuaded that the united states is on a sustainable fiscal course, then eventually something will give. >> since this is a projected budget, what do we do and what responsibility do we have in ord

. >> thank you, mr. royce, thank you, madam secretary. >> thank you, madam chair, madam secretary. glad to have you back. i want to say thank you for following up with co-chair chris smith, chairman smith is i with the bosnian caucus and the fact they have a new government in place, we hope that continued u.s. and international support can help move them forward. so thank you for that. i also wanted to commend you on the recently announced international partnership, the climate between air coalition to reduce short-term pollutants. it underscored the nature of the challenge as well as the advantages to working with our partners at the u.n. and around the world. i wanted to ask, has that investment paid off in terms of stronger commitments by developing countries? and can we count on them to continue and fulfill those commitments if we are not hon honoring our pledges? raising that, congressman, because wehae change and the consequences of climate change pose national security problems to us, and so we are looking for ways to try to move forward where we can and take practical steps

mr. royce? >> i'm like director cordray to return to that quote that i mentioned earlier in this hearing. sheila bears' observation that banking agencies assessments of risks to consumers are closely linked and informed by a broader understanding of financial risks of other consumers, policy setting activities in a separate organization she said, apart from existing expertise and infrastructure could ultimately result in less effective protections for consumers. i just ask you if you agree in concept with her concern there. >> i hadn't heard that quote before, and i found it curious because the fdic in fact has reorganized their own staff to separate consumer protection staff from other staff so that they can make sure that they have a more direct focus on these same issues. so they've kind of mirrored dodd-frank. >> but remember, the quote here is a separate organization. >> yes, sir. >> and that's your point. >> yes. i actually think that the two issues go hand in hand. i don't think that you

and i believe mr. royce from california talked about how he believes it should be integrated. i hope we can integrate it well. and i hope that you'll work with the other regulators to integrate consumer protection into everything. but i do want to make sure that we keep affordable available credit for our small business and consumers. >> thank you, congressman. first of all, to go back to a point you made a moment ago, which i very much agree with. it does not help protect consumers if we undermine the safety and soundness of the financial system. consumers depend on the availability of credit to be able to do things like buy homes, to access education, to be able to manage and control their spending. and if the system does not -- does not provide those opportunities to people, then their lives are stultified as a result. and i also very much agree that having a competitive, vibrant financial sector is good for consumers for all those same reasons. lots of availability choice and the like. so one of the things that we'll try to be very mindful of, and as you point out, our gov

now the gentleman from california, mr. royce, is recognized for a minute and a half. >> thank you, mr. chairman. the clear problem that arose here, the clear problem that made bankruptcy the only option for mf global was that no one could account for what happened to over a billion dollars in segregated funds. as we are going to learn today. but more than leaving the various customers of mf global high and dry, what's happened is that those missing funds have rocked the foundation of the cftc's customer protection regime. rules governing segregated accounts, those rules have been around for 75 years. and they're not difficult to understand. purportedly they're not difficult to enforce, yet the cftc has failed in this most basic task. so we go to commissioner o'malley's observation at the cftc. he says that basically is arguing that since 2010, the cftc has been consumed with drafting new rules to regulate not just our derivatives market but the world's derivatives markets, with much of the manpower at that agency dedicated to en

mr. royce's testimony was incorrect than?you still have those funds basically, so you are telling me that the $1.6 billion, you did what was fair and square. fair and square. i'm hearing the other two witnesses say it's fine, it's okay. is it okay? >> senator not knowing what actually happened is impossible to be will to comment. >> you took your money. if i put money in the bank and if i can give my money back from the bank, the tank has taken it from me. if i can get my money back in the bank is taking it. these hog farmers put their money with you and they cannot get it back so is that right or wrong, morally right or morally wrong? it doesn't matter anymore. your legal counsel actually cannot swear it's against the law. >> i think there are a lot of different concepts that are being combined. >> now i think i understand why mr. capuano and mr. lynch for a little frustrated there. they will probably never be repaid and it's okay because we cannot really declare it. this is really reassuring to the american people who might

within its new inches of the pin and when the others mr potts he just needed to hold his ball birdie for victory and he did just that and michael royce two week reign as number one donald is now looking forward to the masters which will take place next month. it's a reference. to. the philosopher keep him out in my room . the system works to see this is a perfect fit for a show two weeks off the food to. find that a one hundred year old woman will be poured over the torch relay throughout brits and ahead of this summer's alarms in the olympics a local resident said gold's becomes a sense in the area and on may the twenty third she is one of the eight thousand force bearers that were unveiled to the public by mayor boris johnson while twelve year old so many called gallant from birmingham will be the youngest to carry the flame in all the journey will span over seventy days with the details of the final suv being kept secret ass off now london's third summer games will get underway on july the twenty seventh and the organizers wants everyone to be involved but first see the plane if they wish so. we tried incredibly hard to get as clo

very happy to have british aerospace, rolls-royce, on an airplane with me promoting british companies but i get attacked by the labour party. >> thank you, mr. speaker. is the prime minister aware of the tragic death of my constituent. her husband believes her death is one example of systemic management failures at the university hospitals. will the prime minister ensure dr. hagerty and my constituents that recent work to improve the management will continue and this trust will be turned around? >> i can certainly give me honorable friend that assurance but first of all, i'm sure the whole house will want to send the deepest condolences to the husband and family of the honorable member's constituent, penny hegerty.

very happy to have british aerospace, rolls-royce, on an airplane with me promoting british companies but i get attacked by the labour party. >> thank you, mr. speaker. is the prime minister aware of the tragic death of my constituent penny hegerty. her husband believes her death is one example of systemic management failures at the university hospitals. will the prime minister ensure dr. hegerty and my constituents that recent work to improve the management will continue and this trust will be turned around? >> i can certainly give me honorable friend that assurance but first of all, i'm sure the whole house will want to send the deepest condolences to the husband and family of the honorable member's constituent, penny hegerty. clearly, patients have the right to expect far better standards of care. i know that the cqc and monitor have raised concerns about standards at the trust. as he says, it is being turned around, about that work needs to be undertaken with all speed. >> speaker, grim brown, director of shelter in scotland described the proposal for bedroom tax as grossly unfair and shows the u.k. government failing to listen to the v