mr. thomas. >> thank you. commissioners need any additional time for any follow-ups? go ahead. >> how much time do you need, mr. wallison? >> i will give you 4 1/2. we will negotiate to five. go ahead. >> microphone, mr. wallison. >> i have some questions for ms. lindsey. you refer to buyers of securitized subprime mortgages as unsophisticated. that is quite interesting to me. these are buyers, people who are in this business all the time. why do you regard them as unsophisticated? >> they were sophisticated in putting financial details together. the reason i used the word unsophisticated, they didn't know the risk of the underlying product. these were all very high-risk loans. underlying product. these are all very high risk loans. >> and then they didn't know that. you thought of them as putting together the pools very well and negotiating i suppose about how these tools would be eventually marketed. but you didn't think they really understood the underlying loans. why would that be too? why do you think that is what i mean. >> my personal opinion is because what i h

mr. thomas? > continuing the bipartisanship that we have displayed, on behalf of the commission, i would like to thank the chairman of the energy and commerce committee, mr. waxman, and his staff for providing us accommodation. i would like a couple more degrees down on the thermostat, but understanding what our options were, we do appreciate and thank them. for those who have never tried to run these kind of hearings outside of a congressional hearing room, it's really, really hard to do. and i want to thank them for their courtesy. >> thank you all. i would like to ask if the commissions would gather extraordinary briefly in the anti-room right after this meeting. thank you all very much. >> thank you. [inaudible conversations] [inaudible conversations] >> too big to fail is a harder issue. my own view is that we're passed the days of exclusively small bank institutions. looking for more about the financial crisis at the new c span video library, search, watch, flip and share. over 160 hours of

mr. thomas? nk you very much. mr. thomas. >> thank you. commissioners need any additional time for any follow-ups? i want to -- go ahead. >> how much time do you need, mr. wallison? >> i will give you four and a half. >> we will negotiate the five, go ahead. >> microphone, mr. wallison. >> i have some questions for ms. lindsay. you refer to buyers of securitize subprime mortgages as unsophisticated. and that's quite interesting to me. these are buyers, after all, they are people in this business all the time. why do you regard him as and sophisticated? >> they were sophisticated and putting financial deals together. the reason i use the word unsophisticated is because they didn't know the risk of the underlying product. these are all very high risk loans. >> and then they didn't know that. you thought of them as putting together the pools very well and negotiating i suppose about how these tools would be eventually marketed. but you didn't think they really understood the underlying loans. why would that be too? why do you think that is wh

mr. thomas? >> no, not really.fter six years as chairman of the ways and means i've had a number of people come before us. i think the point people have to realize is it was a multiple multiple-factor cause for this and depending upon which perspective you had you thought-- as you heard from these individuals-- that they were the ones who were at fault. it's going to take a very in-depth examination. we're in the middle of that process. and to draw any conclusions at this point i think is clearly premature. >> brown: and yet you in particular were pushing them pretty hard today on the compensation. and that's an issue that americans are up in arms about and you were asking about the notion of taking all that money, bonuses, et cetera, at a time when these banks were almost failing. >> it wasn't so much taking the money because i believe you can get reward. i'm a republican. nibble the free enterprise system. although that was awfully free and an awfully big amount. but i believe behavior has consequences and what's

mr. thomas? >> none at this time, mr. chair. >> all right. a couple of items, just first of all, a couple of clarifications. because i want to make sure we have the facts for the record. even by your own stipulation, let me stipulate that fannie mae and freddie mac were disasters, you keep referring to 40% of the market. if you look at the 2002 to 2005 period, the private market, wall street was anywhere from 59 to 92% of the security market. that's just a fact. secondly, i wanted to follow up on ms. morin's question of earlier. i wanted to point out because when she referred to the view of the federal review bank, i don't think you would have seen the review from 2005. there was not some third-party wild-eyed critic, this 2005 review which ms. morin referenced was a peer review by other banks and there was a second review in december 2009 where again the peer other federal reserves commented on the supervision of citi bank by the federal reserve bank in new york and they said it was less than effected although the team is well qualified and

mr. thomas? > continuing the bipartisanship that we have displayed, on behalf of the commission, i would like to thank the chairman of the energy and commerce committee, mr. waxman, and his staff for providing us accommodation. i would like a couple more degrees down on the thermostat, but understanding what our options were, we do appreciate and thank them. for those who have never tried to run these kind of hearings outside of a congressional hearing room, it's really, really hard to do. and i want to thank them for their courtesy. >> thank you all. i would like to ask if the commissions would gather extraordinary briefly in the anti-room right after this meeting. thank you all very much. >> thank you. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> that wraps up three days of hearings by the financial crisis inquiry commission. ♪ ♪ ♪

mr. thomas referred to you in a meeting you attended with mr. rubin. this was the november 17, 2007 meeting with the senior supervisors from the federal reserve of new york, federal reserve board, the occ, the fcc, the u.k. fsa, you referred to in the not tonight him expect you to have these notes in front of you but she did a lot of comments of poor communication across businesses. he said the firm did not have adequate room wide consolidation of its risk factor sensitivities senior management business in risk management did not fully appreciate the market risk of the leveraged loan pipeline that retains super senior cds. these are actually knows. these are verbatim. these are notes of your comments. you left the institution too big to manage, to complex because your comments here indicates a significant level of concern about the ability to manage this well. >> i think very definitely add lessons learned and was trying to -- i suppose for a tour board of directors during the crisis. and i meeting with the regulators as it appears areas that we can im

mr. thomas, to see if you have questions you would like to lead with. will defer my till the balance of the commission members. >> thank you, mr. chairman. first of all, thank you all for coming and, for anyone who grew up in california through the '50s, the '60s, the '70s. '80s. '90s sets, a lot of this stuff is pretty familiar with us now especially following the last several years. and i'll address my initial questions to mr. bitner. ms. lindsey. what was the last straw? what made you walk away? was it kind of like the cannibals, start with the cold water in the pot and starting getting a little hotter and then eventually, you realized circumstances you were in? >> i think for me it was combination of a couple things. >> is your mike on. >> i believe so. >> closer then for me it was combination of couple things. starting a as early as two three. forget about the fact that have a subprime business model. we had a model, which makes wigets and, every month you're making more of them and making less and yet you're also noticing quality of wigets you're p

mr. thomas? >> thank you, mr. chairman. much of the questioning that we have heard today is based on the fact that you are obviously dealing with "investments", which look a lot like some of the other folks who were in front of us in dealing with investments with, unfortunately, much the same outcome, but in fact you are really not a business at all. when you were asked about compensation and the companies that you compare yourself with, those really are companies. they have articles of incorporation, a lot of them in delaware because of their roles. they basically have to make a profit. if they don't make a profit at some point, they ceased to exist. but you did not have to have articles of incorporation, and you did not have to make a profit. so in any of those discussions, i will spend a little time to bring it back into what i would probably say, any more so than other commissioners, my world. for more than three decades, have been in washington. people look at washington, d.c., as national capital, international capita

mr. thomas. >> we definitely want want, written in terms of the context you written mr. because everybody was involved after the pact. i would like a real time line in terms of who, when, and how appear in. >> that would be helpful. >> any other commissioners? the hearing we will adjourn today and that we will be here at 9:00 a.m.. just to tell commissioners, we will be out of here without fail tomorrow at 3:00 o'clock because the travel schedules of several commissioners, so we will be done prior to 3:00 o'clock tomorrow. 9:00 a.m. in this room. thank you very much for your time and answers to our questions. >> thank you. [inaudible conversations] [inaudible conversations] the commission will hear from two former directors of the federal housing finance agency which regulates fannie mae and freddie mac and the 12 federal home loan banks. live coverage friday at 9:00 a.m. eastern on c-span2. later today its booktv, first markell. >> and john holliman, authors of game change, their account of the 2008 presidential campaign. what in the world is more ridiculous run out of

mr. thomas laid out a timeline.referenced on march 17th a press release that was proposed and then there was one other item. you actually did respond to the first press release. i want to get your thinking. because you are there on the ground. y'all have a follow up. when you responded, i think, on march 17, to mr. mudd, who sent you a draft press release. i believe there was a quote where you -- they had a proposed quote for you that said let me be clear, both companies are well capitalized and have adequate reserves. they had a quote from secretary paulson, it was important the housing in the gse step up to provide liquidity. they must be a key part of the solution. you wrote back, at first it appears the failure was being asked to be first, last, and only. that's in brackets to raise capital. and the idea, quote strikes me as perverse as it would seem perverse to regulator would allow a regulator would allow, 2-1 to 1-1 to 0-1. obviously you were not comfortable with. now a press release is issued three days. you

mr. thomas? >> thank you, mr. chairman. much of the questioning that we have heard today is based on the fact that you odyssey were dealing quote unquote investments which look a lot like so many of the folk who were in front of us in dealing with investment. unfortunate, with much of the same outcome. but, in fact, you folks really aren't in a business at all. i mean, when ms. murren asked you about compensation and the companies that you compared herself with, those really are companies. they have articles of incorporation, a lot of them in delaware because of their roles. they basically have to make a profit if they don't make a profit at some point, they cease to exist but you didn't have to have articles of incorporation. and you didn't have to make a profit. so if any of those discussions, i'm going to spend a little time to bring it back to what i would probably say more so than any other commissioner, my world. for more than three decades, i have been in washington. people look at washington, d.c., as a national cap

mr. thomas. >> thank you, mr. chairperson. thank both of you for corporalling. we appreciate it. as you know, given our charge of trying to understand what happened so that we can convey to the american people what happened, is an exceedingly difficult and complex job in which we have a very short period of time. i want to ask you, we obviously know more today than we did yesterday in this very narrow area and we're going to know more tomorrow. these hearings are not designed to be exhaustive, and if i ask you, if we had questions, not only relating to the topic that we have before us, but other concerns based upon you were position and experiences, some very in-depth, others very broad, would you be willing to respond in a timely way to written questions that we might submit to you between now and the end of our statutory journey? is that an appropriate -- >> i'm not sure how we could say no, vice chairman. so yeah. >> well, i don't understand how you can explain what you did and how you did it. but it's really easy, because all you do is say yes. >> the answer, mr. chairman, is

mr. thomas crookshake, former member of the board of directors and chair of lehman brothers. >> i would like to thank -- [talking over each other] >> can you hear me now? sorry. i would like to thank the committee for inviting me. a disastrous impact on the company, its employees, investors and even on our country and its economy. as director of the firm, lehman brothers's collapse weighs on me each and every day. it is vital that we learn from it. the day lehman filed for bankruptcy with the darkest and my career. looking back i am sure there are things lehman brothers could have done differently. what may seem crystal clear today was more than three years ago. even after bear stearns nearly collapsed in march of 2008 the treasury secretary stated that the worst was likely behind us. if lee he and other financial leaders had been right. the examiner found there are no color for claims against the independent directors in connection with our work on behalf of the company. this conclusion comports with our own belief that we did our best through the greatest financial tsunami since the great

mr. thomas, to see if you have questions you would like to lead with. i will defer my till the balance of the commission members. >> thank you, mr. chairman. first of all, thank you all for coming and, for anyone who grew up in california through the '50s, the '60s, the '70s. '80s. '90s sets, a lot of this stuff is pretty familiar with us now especially following the last several years. and i'll address my initial questions to mr. bitner. ms. lindsey. what was the last straw? what made you walk away? was it kind of like the cannibals, start with the cold water in the pot and starting getting a little hotter and then eventually, you realized circumstances you were in? >> i think for me it was combination of a couple things. >> is your mike on. >> i believe so. >> closer then for me it was combination of couple things. starting a as early as two three. forget about the fact that have a subprime business model. we had a model, which makes wigets and, every month you're making more of them and making less and yet you're also noticing quality of wigets you're

mr. thomas. >> thank you, mr. chairperson. thank both of you for corporalling. we appreciate it. as you know, given our charge of trying to understand what happened so that we can convey to the american people what happened, is an exceedingly difficult and complex job in which we have a very short period of time. i want to ask you, we obviously know more today than we did yesterday in this very narrow area and we're going to know more tomorrow. these hearings are not designed to be exhaustive, and if i ask you, if we had questions, not only relating to the topic that we have before us, but other concerns based upon you were position and experiences, some very in-depth, others very broad, would you be willing to respond in a timely way to written questions that we might submit to you between now and the end of our statutory journey? is that an appropriate -- >> i'm not sure how we could say no, vice chairman. so yeah. >> well, i don't understand how you can explain what you did and how you did it. but it's really easy, because all you do is say yes. >> the answer, mr. chairman, is

mr. thomas cruikshank, a former member of the board of directors in share of lehman brothers -- committee the commission. >> please turn your microphone on. it's not on. sorry. >> pull it. >> can you hear me now? i would like to thank the committee for inviting me to appear at today's hearing. no one can deny that the bankruptcy of lehman brothers has had a disastrous impact on the company, its employees, its investors, and even on our country and its economy. it is vital that we learned from lehman brothers's history so we do not repeated. the day we filed for bankruptcy was the darkest of my profession. looking back, i am sure there are things we could have done differently. but note -- what may seem crystal clear today was much less so three years ago. indeed, even after bear stearns nearly collapsed in march, 2008, the then treasury secretary stated the worst was likely behind us. if only he and other financial leaders have been right. in retrospect, the examiner found that there are absolutely no claims against the independent directors in connection with our work on behalf of the co

mr. thomas, to see if you have questions you would like to lead with. will defer my till the balance of the commission members. >> thank you, mr. chairman. first of all, thank you all for coming and, for anyone who grew up in california through the '50s, the '60s, the '70s. '80s. '90s sets, a lot of this stuff is pretty familiar with us now especially following the last several years. and i'll address my initial questions to mr. bitner. ms. lindsey. what was the last straw? what made you walk away? was it kind of like the cannibals, start with the cold water in the pot and starting getting a little hotter and then eventually, you realized circumstances you were in? >> i think for me it was combination of a couple things. >> is your mike on. >> i believe so. >> closer then for me it was combination of couple things. starting a as early as two three. forget about the fact that have a subprime business model. we had a model, which makes wigets and, every month you're making more of them and making less and yet you're also noticing quality of wigets you're

mr. thomas farrington, tin your prostate cancer survivor who has done a lot of work in this area as well. there's a high degree of public awareness of the need for regular screens for certain kinds of cancer. notably breast cancer, prostate cancer and colon cancer. however this widespread belief is now being debated. a few months ago "the new york times" devoted some scientists have concluded the benefits of the cancer especially breast and prostate cancer have been overstated and that regular screening might not do as much parma -- might do as much harm as good. this has caused widespread confusion which we hope to correct today. to help us do that we have some of the leading medical experts in the country to discuss the latest thinking on screening and treatment of prostate cancer. i look forward to your testimony today because this is a very important issue and again i thank my colleague, elijah cummings, for making certain that we move forward with this discussion. malae jeal to the gentleman from california for his opening statement, congressman issa. >> thank you for holding this im

mr. thomas, used the hearings to channel the wide spread public outrage over the disconnect between the rewards that wall street reaps while the economic teetered. and at one point, he seized on the widely cited notion that mortgage lenders had no skin in the game, which is what mr. bowen was talking about as well, when they made questionable loans because they were able to sell the loans quickly to banks. michael is joining us from new york. good morning to you on the democrats line. what would you ask some of these banking and wall street executives? caller: what's their bonuses they're receiving at this time? host: robert rubin earned about $100 million over the last eight or nine years. caller: yeah, you take a look at all these big, fat bonuses that all these fat cats are walking out with, and you looking at the working people across this country that are paying those bad, faulty debts they handed out, and now here we are, we've got a plummeting crisis here in our economy, and i think the biggest thing that we could send a message to obama, if i say anything, we need to create industry and

mr. president. >> thomas jefferson and selena gomez, a new addition, running the gamut there. >> thank you and here is the next hour of fox 5 morning news, we mentioned earlier this wal-mart lawsuit. an appeals court clears the way for a massive lawsuit against wal-mart. more than 1 million current workers are involved. and what it is they are saying the company is doing is forcing them to sue. >>> and a lot of folks are talking about this one. a mystery phone call, popping up all over the area. and especially last weekend. now we know more about the company that they originally came from. also though we have some more general tips on how to deal with unwanted phone calls. >>> and then monsoon barbecue sauce, turning that famous home drew of way back when and maybe now into barbecue sauce. a local man what is producing illegal for a pretty profit. >> isn't that the way of everything, especially in

mr. thomas, to see if you have questions you would like to lead with. till the balance of the commission members. >> thank you, mr. chairman. first of all, thank you all for coming and, for anyone who grew up in california through the '50s, the '60s, the '70s. '80s. '90s sets, a lot of this stuff is pretty familiar with us now especially following the last several years. and i'll address my initial questions to mr. bitner. ms. lindsey. what was the last straw? what made you walk away? was it kind of like the cannibals, start with the cold water in the pot and starting getting a little hotter and then eventually, you realized circumstances you were in? >> i think for me it was combination of a couple things. >> is your mike on. >> i believe so. >> closer then for me it was combination of couple things. starting a as early as two three. forget about the fact that have a subprime business model. we had a model, which makes wigets and, every month you're making more of them and making less and yet you're also noticing quality of wigets you're producing is of

mr. thomas? >> thank you.you would like to this in writing, they did not have the technical capacity to assess the models until i started out talking about the garden of good and evil and i meant that. unfortunately stress tests may not be useful. in terms of the models that you look at. i would not be here if the function of this commission was to examine policy offer by the commission one of the reasons i like capital is the use the official in areas and other facilities -- transparency and present ability for each person. almost $150 million on the way out. on the way down that same team did not have a nickel. i do not like government telling people what they can think across we sat through a channel and i want to thank you. citibank did not hold out for a certain extraordinary aspect from your organization. basically we have been given no opportunity sell the pieces were exchanged and change behaviors and we had half to have consequences. making your stock argument, mr. prince, most of you about something

thomas vanaskie, united states circuit judge for the third circuit. there will be three hours for debate prior to vote on confirmation of vanaskie. mr. president, i would note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call:

mr. chairman thomas members of the committee. my name is jeff freeman.m the deputy director of the minnesota public authority. thank you for the opportunity to come before the committee to talk about our clean water state revolving fund program and our experience with the american recovery and reinvestment act funds. the minnesota put this those authority is a multi-agency infrastructure financing authority that manages the clean date revolving fund, drinking state revolving fund, a state infrastructure bank for transportation projects, and several other infrastructure financing programs. since the clean water act state revolving fund began in 1989, minnesota has received 577 million in federal capitalization grants. at 150 million in state matching funds, and leverages those funds with our own aaa rated revenue bonds to finance 2.4 billion in clean water rogers throughout the state. these low interest loans have saved cities and attacks there's over 530 million in interest charges. this financing is up to local governments we have and replace treatment

mr. melvin, and the thomas, mike, and i don't know if i've missed any. do need to say that the courage that it takes to allow yourself to be strapped on a 5 million pounds of thrust and rocketed into space, never mind the courage it takes for them to step outside the capsule out there. it is something i can only imagine, barely. i think we of these heroes an enormous step. -- we owe these heroes and enormous debt. [applause] we will break out into the four parallel panels. if i had to encapsulate, in just a few words, it is a faster pace in space. war missions and more destinations, sooner, at lower cost. the plan offers a more productive and more affordable and more visionary approach. then the plan that replaces. by expanding commercial capability, for carrying cargo and astronauts and allowing an asset to devote more resources to advanced technologies for exploring the space, the president's plan will greatly increase the number of missions to the international space station between now and 2020 by u.s. astronauts, expanding the u.s. use of the statio

mr. reid: g. thomas porteous jr. the presiding officer: without objection. to rule 9 of the rules and procedures of the senate when sitting on impeachment trials, the secretary of the senate will now swear the sergeant at arms. the secretary: do you solemnly swear that the return made by you by the process issued on march 15, 2010 against g. thomas porteous jr. is truly made and that you have performed such service as therein described. so help you god? >> i do. i send to the desk the return of service i executed upon the service of the summons upon g. thomas porteous jr., friday, march 19, 2010, at 8:55 a.m. the presiding officer: the return of service will be spread upon the journal and printed in the record. the immediate is recognized. mr. reid: i ask that the secretary of the senate communicate to the house of representatives an attested copy of the answer of judge porteous. the presiding officer: without objection. mr. reid: that that be affixed to the articles of impeachment. i further ask the answer be referred to the impeachment trial -- referred to

mr valukas. i only have five minutes so i hope to run through my question as quickly as i can. thomas baxter told you in no way was the idea to make lehman brothers a poster child for a moral absurd but do you believe that is not true? >> i don't know how to respond to that question. i did not find any evidence. nothing was said to me to indicate somebody was deliberately trying to subvert lehman brothers's the ability to survive. we went through twenty-five million e-mail documents. there was nothing to suggest any of that. the interviews we had with individuals, nobody gave us any testimony suggesting that. >> what do you think was so much more stable about bear stearns than lehman brothers? >> in connection with lehman brothers the opportunity to lynn to of lehman brothers was dependent on collateral which was sufficient to justify the loans and they did not as of september 15th have that type of collateral. >> i get the sense that the fed fog that something could be done but since they weren't regulator in charge they stepped back. how do you feel about that? >> i am not qualified

the bbc's -- thomas is at the washington convention center with the leaders are meeting and she is explaining now why mrbama called this unprecedented summit. >> a huge gathering of leaders and a very ambitious agenda to try to lock down all of the potentially lose nuclear material. president obama says it is the most immediate and urgent threat there is to global security. but as bring in our guest, mike hammer appeared you obviously at the national security council are looking at the danger of -- the immediacy of the dangers. you are already putting out practical steps. the ukraine said we are taking steps as a result of this summit as a cure some of that material. >> we have 47 nations gathered to discuss a very critical issue that president obama but at the top of his national-security agenda, which is to secure and safeguard and lockdown nuclear materials so it cannot fall into the hands of terrorists or those who want to do us harm. now that the bilateral the president had with the president of ukraine, have announced an agreement whereby ukraine would do away from all of its highly enriched urani

mr. chairman. >> thank you thomas under mccain. senator burris. >> your response to that diatribe? [laughter] >> senator mccain as someone who was lived and worked on the border for more than a quarter-century. i appreciate your sense of urgency and i have lived and worked to combat it for many years and i look forward to your supporting the support of this committee to continue to do so ever more effectively. >> thank you. senator burris. >> thank you, mr. chairman. commissioner, i would like to congratulate you and welcome you aboard. i recently had the opportunity to travel to the southwest border and get a close-up look at the work of dhs and its component agencies are doing down there. we've been fighting a tough battle in a grateful for the men and women who are working to protect our borders and i want to take my hat off to them and not the american people know that that is not an easy provision to be in great having visited there, seen it firsthand. commissioner, i am deeply concerned about fbi not. i am trying to get a clear understanding of your testimony, that you say th

mr. chairman. >> thank you thomas under mccain. senator burris. >> your response to that diatribe? [laughter] >> senator mccain as someone who was lived and worked on the border for more than a quarter-century. i appreciate your sense of urgency and i have lived and worked to combat it for many years and i look forward to your supporting the support of this committee to continue to do so ever more effectively. >> thank you. senator burris. >> thank you, mr. chairman. commissioner, i would like to congratulate you and welcome you aboard. i recently had the opportunity to travel to the southwest border and get a close-up look at the work of dhs and its component agencies are doing down there. we've been fighting a tough battle in a grateful for the men and women who are working to protect our borders and i want to take my hat off to them and not the american people know that that is not an easy provision to be in great having visited there, seen it firsthand. commissioner, i am deeply concerned about fbi not. i am trying to get a clear understanding of your testimony, that you say th

mr. specter: i ask unanimous consent that the vote on confirmation of the nomination of judge thomas vanaskie occur at 5:30 p.m. today with the time until then divided as previously ordered, and the remaining provisions of the order governing consideration of this nomination still in effect. the presiding officer: without objection, it is so ordered. mr. specter: in the absence of any senator seeking recnition, i suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: quorum call:

mr. prince? >> thank you. chairman angelides, vice chairman thomas, members of the commission, let me start by saying i'm sorryat the financial crisis has had such a devastating impact on our country, i'm sorry for the millions of people, average americans, who have lost their homes, and i'm sorry that our management team, starting with me, like so many others, could not see the unprecedented market collapse that lay before us. i was the c.e.o. of citigroup from october 2003 until november 4, 2007. before becoming c.e.o., i held various positions in citi's senior management. for nearly 30 years, until november 4, 2007, when i resigned, citi and its predecessors was my professional life. i have given a great deal of thought to the unique events that led to the financial crisis and which bring us here today. i wanted to share some of my views, which i believe are important to set the context for the problems that arose at citi, as well as many other financial institutions, and eventually led to citi's receipt of government assistance. the financial crisis resulted from the confluence of several factors. the abse

mrs. means anything, and if it means anything you have to define what it means. that will be interesting. >> though question but only thomas buys that argument,. >> rick, patrick leahy said i hope this will be a self discourse. and i remember what was said about justice alito and all the concern on that but he is clearly worried the tea party activists are going to get on to this and it will be a circus. >> that is right. the political context is different than a year ago. the first nomination of president obama happened right after the inauguration and the republicans were trying to figure how to read as a party this a time of obama. they had a firmer feeling about that and the tea party activists among others, are engaged the last year and they will be engaged this time. the tone will be different. even than last year where sotomayor was never seriously this doubt. there were questions of the number. no matter who he chooses we will see more bitter, more divided debate and part of this is an election year, with a benefit on both sides to getting a lot of this. >> and i mentioned what conservatives should take heart in, t

mr. bost is out of jail now. he was arrested for similar activities and he is now out of jail and this is the similar writing he has been doing in the past. >> reporter: wayne thomas and his dog walk here all the time. wayne said the graffiti turned up monday and he is glad it is gone and he can't figure out why suspects are so hard to catch. >> the amazing thing, it is always on the highways that are always busy, where everybody is always at. i don't understand how you can never see these people in action, the airport is right there. i don't know how or when somebody finds the time to do this. >> reporter: bost's known address was in alexandria. he is known to hang around the national mall and public libraries, also. you should call 911 if you ever see anyone putting up graffiti. 9 news now. >>> this past week the four young people shot and killed in the drive-by carnage in southeast d.c. were laid to rest. one of them, 17-year-old tavon nelson was remembered as a bright and respectful young man who was a playstation whiz. we have the story. >> reporter: the tee shorts imploring him to rest in peace were more apparent than the suits and ties. >> no words for me t

mr. president, i would briefly want to share a few thoughts about judge thomas vanaskie, who's been nominated for the third circuit court of appeal a veryortant position. he currently serves on the district court of the middle district of pennsylvania, and i do intend to support his nomination, give deference to the president. i'd just like to share a thought or two about his testimony before the judiciary committee. he did say he believed that american courts should not use foreign law in interpreting the constitution but he did believe that the supreme court properly used foreign law in cases like lawrence v. texas, and i think that's a bit contradictory. and in roper v. simmons, the supreme court also concluded that the constitution, because of -- quote -- "evolving standards of decency" would now prohibit states from imposing a death penalty on juveniles who commit murder. i think that is a legitimate public policy issue to discuss, but the question is, does the constitution say that a state is not able to decide what age people are executed -- are to be executed. he said another point, t

mr. market keeps voting for economic and financial recovery as the dow hits 11,000. and ten reasons the v-shaped economic recovery is real. we'll go kudlow one on one. >>> plus thomas hone ig is a new fed superstar, who wants to prevent another financial bubble. how about cowboy monitorism? i'll tell you what that means later on. >>> finally dan mudd is grilled by the financial crisis commission. i have two ideas -- privatize them or privatize them. our dynamic duo will debate. fast been your seat belts. "the kudlow report quest begins right now. . >>> welcome back. another good week for stocks, as the dow ticked to 11,000 today, though it couldn't quite hang there. but here's a key point. investors are voting for leadership sectors that have strong economic recovery written all over them. financials, consumer retailers, energy, tech, industrials, transports, commodities, now we're going to talk about the reasons for a v-shaped recovery boom just a bit later, but right up front, first this evening i want to focus on the meaning of mr. market's reality, and in a sober spirit, what are the risks to this rally? we've got grease, we've got bond rates, we might have ove

can work toward having healthier students and reducing all of the chronic thomas's backers of from unhealthy eating. >> thank you. mr. john kline. >> thank you, mr. chairman and to the witnesses for being here today. i was struck that it seems everyone of you have something in common in that every program does seem to need more money. we have heard calls for adequate resources, enhanced meal reimbursements, covering the cost of transportation and delivery and so forth. we have got that message,. we did not actually have the money, but we do have the message that there is more money required. we had a difference of opinion about role of the federal government, how much will be dictated by the secretary of our agriculture. miss dora rivas, i think you said that you were emphasizing the national school board association -- that there ought to be more local control and the federal government has to be careful about how it is intrudes in that. it does seem to me that the programs at the local level allow for more input and support from parents, which i think we would all agree is very helpful. the more parents involved i

mr. burris: thank you, madam president. madam president, in 1790, secretary of state thomas jefferson became the first government official toperform the essential duties laid out in article 1, section 2, of the united states constitution. he oversaw a team of marshals who fanned out across all 13 united states to conduct a very first u.s. census. in those days, it took quite a long time to get an accurate account and certify the results. but in many ways, that first census laid the cornerstone of our democracy. it codified the principle that our system of government depends upon the accurate representation of the people. even today that accurate -- that's exactly what the census is called for and what the census is all about. it determines the size of the house of representatives and ensures that congressional districts, electoral votes are distributed accurately. it helps target federal funding for schools, hospitals, community centers, infrastructure projects and a whole host of other programs. in short, madam president, it helps our government work the way it's intended in each community, so everyone's voice can be heard

mr. chairman. >> for the record, i want to state that she asked the question i wanted to ask. justice thomas, you and i have discussed this publicly for a while. this is still a concern and add to my concern in the past which i think is important that in a way this is not compromising the integrity of accords. the supreme court itself speak in some way, i'm not asking for a court decision, and still waiting on the one for a break in to run for president, but to make some kind of a statement that things have to change at the bottom level and when you speak to some people there is a problem and unfortunately every year when you folks, here it is the court that takes the brunt of the questions when, in fact, i agree with you that the pool is a problem but in addition to the pool of being a problem or in spite of its i think if the court was to say we need this to change we could begin to see changed. we can begin to see change and i have nothing against our word or yale, but its -- there are different places throughout the country that can provide good folks. now, whenever we have before us we

mr. speaker, i rise today to honor the life and service of cleveland heights police officer thomas paton ii. on march 13, officer paton was on patrol when he began chasing down a suspect. tragically, he collapsed during the chase and died shortly after the incident. he was only 30 years old. officer paton was the only son of my friend and our community leader, ohio state senator tom paton, and his late wife, evelyn. he leaves behind a loving fiancee trisha and beautiful 8-month-old daughter evelyn. he meant the world to his family and was nicknamed precious by his five sisters. it was without question what career path thomas would take. he came from a family with a strong tradition of police officers that began with his grandfather who joined the cleveland police department in 1946. as a child, he would dress up in old police uniforms and dream of what it might be like to be a patrolman. thomas grew up in strongsville, ohio, in the heart of the 13th congressional district, and he attended holy name school. he saw the dedication and commitment that his grandfather and uncle made as police

thomas vanaskie and dennis chin. today we will consider a way to move forward on those nominations. mr. mcconnell: madam president? the presiding officer: the republican leader. mr. mcconnell: madam president, with regard to financial regulation, from the beginning of this debate, i have called for a bipartisan approach, and for several months, i was encouraged to see bipartisan talks approaching agreement on a bipartisan bill. somewhere along the line, these talks got off course, leading to democrats pulling away from bipartisan efforts and then a party-line vote in committee and the democrat leadership's stated desire to bring a bill to the floor that was -- that had in effect bipartisan opposition. so last week, i raised concerns with the dodd bill, but i also told the president and our friends across that this bill is not unfixable. it is important for the country and the taxpayer that we get this right. that we put them before politics. that's why i was disappointed to read that senate democrats are refusing to drop the $50 billion bailout fund, a fund that the treasury secretary himself opposes, unless repub

thomas vanaskie, united states circuit judge for the third circuit. there will be three hours for debate prior to vote on confirmation of vanaskie. mr. president, i would note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. reid: i ask unanimousconsenm be terminated. the presiding officer: without objection, so ordered. mr. reid: mr. president, every one of our service members deserves the unqualified appreciation and admiration of the united states senate and our entire nation. today, i want to salute the service of one such soldier, a man who first answered his country's call in world war ii and hasn't stopped. bob o'malley served our nation with distinction in the tenth mountain division in combat in europe. he was a sergeant, a squad leader who led his men bravely and with honor. he put his life on the line on many occasions to protect his men, fight for freedom against nazi germany. he was recognized with his squad's admiration, combat infantry badge and, because he was wounded, a purple heart. but he hasn't stopped serving his country. bob came to washington in 1965, worked for con

thomas porteous jr., the articles of impeachment against judge porteous pursuant to s. res. 457, the 111th congress, second session, which replication was received by the secretary of the senate on april 22, 2010. mr. casey: mr. president, i ask unanimous consent that when the senate completes its business today it adjourn until 2:00 p.m. monday, april 26, that following the prayer, the journal of proceedings be approved to date, the the morning hour be deemed expired, the time for the two leaders be reserved for their use later in the day and there be a period of morning business until 3:00 p.m. with senators permitted to speak for up to 10 minutes each, that following morning business, the senate resume the motion to proceed to s.3217, wall street reform. the presiding officer: without objection, so ordered. mr. casey: mr. president, at 5:00 p.m. monday, the senate will proceed to a roll call vote on the motion to invoke cloture on the motion to proceed to the wall street reform legislation. if there is no further business to come before the senate, i ask that it adjourn under the previous order. the presiding officer: the senate will stand adjourned until 2:00 p.m. monday, april 26. >> i think

thomas j. rooney, member of congress. the speaker pro tempore: the chair will entertain requests for one-minute speeches. for what purpose does the gentleman from south carolina rise? mr. wilson: permission to address the house for one minute. rend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one minute. mr. wilson: mr. speaker, over the past two weeks i have heard about the job-killing effect the recently passed government health care takeover will have from concerned citizens across south carolina. i have heard from small business owners, the primary providers of jobs in america, how they will face a $2,000 fine for each employee without insurance. i have heard from seniors who are afraid that their former employers will drop their drug benefits. i have heard from people currently looking for work that the creation of 16,500 new i.r.s. agents isn't what they had in mind when it came to job creation. and i have heard from just about everyone about the concern that their insurance premiums will rise dramatically. the message i bring back from south carolinaans is clear. repeal the job-killing takeover and replace it with an a