mr. taylor goes on to say, "in his speech, mr. bernanke's response to this main critique was to propose alternatives to the standard taylor rule and then to use those alternatives to rationalize" -- i would say justify -- "the fed's policy in 2002-2005." close quote. mr. taylor goes on to say, "in one alternative, which addresses what he describes as his most significant concern regarding the use of the standard taylor rule, he put the fed's forecast for future inflation into the taylor rule rather than actual measured inflation. because the fed's inflation forecasts were lower than current inflation during this period, this alternative obviously gives a lower target interest rate and seems to justify the fed's decision at the time." close quote. mr. taylor says. so he's saying they took his rule and they altered it and they didn't use as the factor actual interest rates, but what they predicted interest rates to be. and of course their prediction was wrong. mr. taylor goes on to say -- and he's written a book about this -- "there

mr. taylor. >> [inaudible] >> yes, yes, please, respond. >> thank you.n the back of our report there is an appendix c that lists, for your convenience, all the findings and recommendations by chapter and by subject. 2.8 or 2.9 of those recommendations carries a recommendation that i think goes to what you say, the ability to collect the information and to carry it forward. so that's, that's part of what you had. the second thing is you mentioned that the, that the victims and the wounded were terrorized. i think my language was terrified. in both cases i think we acknowledged that they died and were wounded with courage and honor and dignity. >> mr. taylor, gentleman from mississippi. >> first, i want to thank both you gentleman for your continued service to the nation. admiral, i'm going to direct this at you. i think this is the first time you've appeared before this committee out of uniform, so you are free to speak your mind. could this have happened on your watch, and regardless of how you answer that, why? and what's the message for the base comman

mr. taylor, mississippi. >> mr.chairman, i'm going to yield, only member of the ranger hall of fame, as a member of congress, mr. marshall. >> thank you, mr. taylor. i appreciate that. i'm curious about the extent to which we can expect that china at some point might be more helpful to us where terrorism is concerned, and specifically the effort in iraq and afghanistan, and are worried about pakistan and india, and possible conflicts of there. a couple of chinese colonels published a book called unrestricted warfare in the mid '90s, probably most of you have already read that. at least read an executive summary of its. and that piece peace, that book explores ways in which china can engage in conflict with the united states in essence. asymmetrically. and publication of the book was authorized, approved by the chinese government. and not so many years have passed since the publication of the book. among the things that these two kernels observed, and this book publication proceeds 911, observed that the close relati

mr. taylor. >> mr.hairman, i'm going to yield to our only member of the ranger hall of fame, this member of congress, mr. marshall. >> thank you, mr. taylor. appreciate that. i'm curious about the extent to which we can expect that china might be more helpful to us where terrorism is concerned and specifically the efforts in iraq and afghanistan and our worries about pakistan and india. a couple of chinese colonels published a book called unrestricted warfare in the mid 90s. probably most of you have already read that or at least read a summary of it. that piece, that book explores ways in which china can engage in conflicts with the united states. publication of the book is authorized and improved by the chi these government. it's not so many years have passed since the publication of the book. among the things that these two observed, it's that the close relationship between america's political belief and the military industrial state combined with the american expeditionary capacity means that it's a

mr. taylor. >> please respond. >> in the back of our report there is an appendix that list subjects 2.eight of the recommendations carries a recommendation of the ability to collect the information and carry it forward. that is part of what you have. second, you mentioned the victims in the wounded were terrorized i think my language was terrified but we knowledge they died and were wounded with courage and honor and dignity. >> the gentleman from mississippi. >> a want to thank both of your gentlemen for continued service to the nation. this is the first area have appeared to the committee out of uniform see you can speak your mind. could this have happened on your watch? regardless of how you answer, why? and what is the message for those still in uniform? >> since we judged today that the policies and the programs and procedures of our guidance on unauthorized and prohibited activities are an adequate today, would suggest they were inadequately when i served. that is the what and so why. >> and enter specific recommendations? >> focus on the fears. -- behaviors', anything talking about p

mr. taylor. >> please respond. >> in the back of our report there is an appendix that list subjects 2.eight of the recommendations carries a recommendation of the ability to collect the information and carry it forward. that is part of what you have. second, you mentioned the victims in the wounded were terrorized i think my language was terrified but we knowledge they died and were wounded with courage and honor and dignity. >> the gentleman from mississippi. >> a want to thank both of your gentlemen for continued service to the nation. this is the first area have appeared to the committee out of uniform see you can speak your mind. could this have happened on your watch? regardless of how you answer, why? and what is the message for those still in uniform? >> since we judged today that the policies and the programs and procedures of our guidance on unauthorized and prohibited activities are an adequate today, would suggest they were inadequately when i served. that is the what and so why. >> and enter specific recommendations? >> focus on the fears. -- behaviors', anything talking about p

i hope he would agree with that. >> i have my personal tributes to david taylor, mr. speaker. can i bring to the attention of my right honorable friend about apprentices aged over 26 in front education college who are in urgent talks to secure the funding they need to continue their training. in the light of the national, will he do all he can through his best offices to make sure that the learning is still successful. the business innovation in the skills department and the regional development agency in dwp will work closely to find an urgent solution so all apprentices can get all funding. >> it's our intention even in these difficult times when companies may not be in a position to keep on apprentices that we will find alternative sources of employment for them and make sure that the colleges continue to train they mean. i will live look precisely at the very issue that you raised. as far as the coalfield regeneration program is concerned, the national audit office recommendations have been acted on. funding from coal fields regeneration program has already been allocated.

. >> gary taylor? >> mr. speaker, my right honorable friend will know that today, 80000 children are living in care. 80% will live in care until they're 16. not in a loving stable family held. i would ask my right honorable friend, isn't it time this house consider the likes of looked after children again and consider that? is they're not living in a stable loving home in the post-18 months of the lies, that adoption and long-term fostering must be there right to enter a loving, stable home? >> mr. speaker, this is a real challenge for all of authorities, but for all people. the number of children in care is a number that we must pay attention to, but also make sure they have then chancellors that every other child has for education attainment, for jobs, and for stability in their lives as they need care. we publish in 2007 the white paper, the care that matters. and we set out to transform the prospect of children and young people in care. we have made some progress. there is an increase in educational attai

mr. taylor. >> does the home secretary realize that scanners cover all white area? actually can do it remotely in airport lounges or railway stations. can the government institute a research program -- several british companies are involved in this -- but we need to stay ahead of the terrorist and not deploy after every incident? >> the honorable member raises a valuable point. we are dealing with smith industry shortly and talking to the document that we repeat -- that we produce last year about our security minister in 2009, it was specifically aimed at the scientific community innovators to get this moving and to find new ways to deal with this. i think that the important part about this is that there is a big part of the british technology here said that we can actually exploit it and insurer -- which is one reason to talk to the airlines -- and that soul -- and you're absolutely right. there are a variety of these scanners and we need to use them effectively. >> john bolwheaton. >> can i welcome the emphatic way in which the home secretary emphasized that there

mr. taylor. >> does the home secretary realize that scanners cover all white area?lly can do it remotely in airport lounges or railway stations. can the government institute a research program -- several british companies are involved in this -- but we need to stay ahead of the terrorist and not deploy after every incident? >> the honorable member raises a valuable point. we are dealing with smith industry shortly and talking to the document that we repeat -- that we produce last year about our security minister in 2009, it was specifically aimed at the scientific community innovators to get this moving and to find new ways to deal with this. i think that the important part about this is that there is a big part of the british technology here said that we can actually exploit it and insurer -- which is one reason to talk to the airlines -- and that soul -- and you're absolutely right. there are a variety of these scanners and we need to use them effectively. >> john bolwheaton. >> can i welcome the emphatic way in which the home secretary emphasized that there is no

mr. taylor. >> does the home secretary realize that scanners cover all white area?do it remotely in airport lounges or railway stations. can the government institute a research program -- several british companies are involved in this -- but we need to stay ahead of the terrorist and not deploy after every incident? >> the honorable member raises a valuable point. we are dealing with smith industry shortly and talking to the document that we repeat -- that we produce last year about our security minister in 2009, it was specifically aimed at the scientific community innovators to get this moving and to find new ways to deal with this. i think that the important part about this is that there is a big part of the british technology here said that we can actually exploit it and insurer -- which is one reason to talk to the airlines -- and that soul -- and you're absolutely right. there are a variety of these scanners and we need to use them effectively. >> john bolwheaton. >> can i welcome the emphatic way in which the home secretary emphasized that there is no single

mr. chairman, for giving a very instructive or i may say "geeky" address. thank you very much. [applause] >> so there, john taylorso you are no longer a core guy? >> that is a shorthand forecast. [laughter] >> if you missed the entire speech by chairman bernanke today in atlanta we will replace it tonight at 10:15 p.m. eastern on c-span. >> i really think it is gone. we lost it and do not know -- do not on it anymore. that hurt. my positions are in a storage bin. i was able to get out before the house was locked up. >> this week, "american casino," a documentary about the impact of sub-prime mortgages on minorities. >> there is less than one month left to enter the 2010 s students cam test. there are $50,000 in prizes. the top prize is $5,000. create a five-eight minute video on one of the country's greatest strengths were a challenge we are facing. it must show varying points of view. enter before midnight january 28th. winning entries will be shown on c-span. do not wait another minute. go to studentcam.org. >> a discussion now on iran what options are available. this is from today's"washington journal." contin

mr. ralph nader. come on up. ed is a leading consumer advocate. he has worked on a variety of issues including telecommunications reform, banking reform, and other issues. >> john taylorout rice, -- and the lisa rice, you can join me up at the front. this is supposed to be a round table and not a square or a classroom. they thought it might be good to have a couple of housing experts which i am not. they can join the appear. without them having planned to be up here, i am confident they will do a fine job. lisa rice is president of the national fair housing alliance. john taylor is president and ceo of the national community reinvestment coalition. they are a leading organization of some 500 groups that work on community reinvestment, protection, and other housing issues. two things we have in common, we each have blood on our foreheads from our terms on the consumer advisory council, banging our heads against the wall at the federal reserve board trying to get them to take on more consumer and community work over the years. that is the way i remember it. secondly, all three of our organizations are founding and active members of the coalition of americans for financi

mr. chairman, for giving a very instructive or i may say "geeky" address. thank you very much. [applause] >> so there, john taylorso you are no longer a core guy? >> that is a shorthand forecast. [laughter] >> president obama and his family returned today from their hawaiian vacation. this is right after they landed at the white house. his meeting today with his homeland security adviser. new screening measures are put into effect for some people traveling to the u.s. from or through 14 countries including yemen, nigeria, and saudi arabia. congress is still on break this week but many staff have returned to capitol hill and to negotiations on health care. the house returns january 12. you can see live coverage from c-span. the senate meets again on january 28 with less coverage on c-span2. the british house of commons returns from its break this week and we will have live coverage of prime minister's question time went gordon brown takes questions from members of parliament wednesday morning at 7:00 a.m. on c-span2. tonight, the president of the internet corporation for assigned names and numbers, and non-profit

mr. speaker, i know the house will also want me to join in sending our condolences to the wife and children of david tayloras suddenly died. he was a tremendous constituency member of parliament who thoroughly deserved accolade of back adventure of his tireless work and the people of north west leicestershire. he will be greatly missed, not only by his family who are here in the house today but my colleagues here at westminster and by all his constituents. mr. speaker, this morning i meet with colleagues and others in addition to my duties in the house i've further duties later today. >> thank you, mr. speaker. i would of course endorse all of my honorable offensive and those with given their sacrifice of dying for the country fading in afghanistan. i'd also want to see something of of those who have died as a result of taking haraway and in the of scotland all harvested in afghanistan and also we're going to pay tribute to my honorable friend and comrade david taylor who said in the house assiduously and gave his all in the constituency as well. if i may, mr. speaker, my great honorable friend give us an

mr. speaker i know the house will also want to join in sending our condolences to the wife and children of david taylor she was a tremendous constituency member of parliament who deserved the backbencher of the year for his tireless work for the people of northwest. he will be greatly missed not only by his family here in the house today but by colleagues here in west minister and all of his constituents. mr. speaker this morning the meetings with colleagues and others in addition to my duties in the house i shall have further meetings later today. >> thank you, mr. speaker i would of course and was all that my friend says and does that is the lead to sacrifice of dying for their country. i would also want to say something about those who have died as a result of taking heroin in the waste of scotland all harvested in afghanistan and also would want to pay tribute to the honorable friend, my honorable friend and confidante who served in this house assiduously and gave his all in the constituency as well. i thought maybe it turned to the question can my honorable friend give an update on the situation r