i say this as a college professor who earns my living at a very expensive private university. >> nyu. >> nyu, had is rigwhich is righ top, but it's a question we have to ask as a society that we're saddling our youth with the huge debts that the they have to pay off and it undermines their ability to lead independent lives. >> the housing market allowed the whole tuition inflation, because middle-class parents could take money out of their house, they could suck the money out of their house because they know they want their kid to have a well-roundedcati education be that's the best way to get ahead. and now the house is worth less and they can't do it anymore. >> right, what needs to happen especially at high school, people start look at college differently. don't look at it as a four or five-year route, but look at how their going to save money. if you're going to stay home, take classes, and take the lower-level classes from the two year colleges. there are other things parents need to look at in order to help their kids get through school without being saddled with tremendous debt

wait, nyu and usc? >> yeah. >> jimmy: that's both coasts. what are you going to do? i think. >> jimmy: what are the pros and cons? what are you thinking? >> well, i love new york. i absolutely love it here. i'm from l.a., so my whole family's there. >> jimmy: so your parents are leaning towards. >> my dad went to usc, he's leaning towards usc. >> jimmy: oh, then definitely nyu. [ laughter ] your parents are close to you? go the other way. i mean, 'cause you love your parents. i mean, it's a such an experience to get away. >> yeah. that's the whole point of college, right? >> jimmy: you cry a couple nights. that's just me. but, yeah. [ laughter ] you learn to live on your own. you get a little -- like a little hot plate, a little, tiny refrigerator. college is fun. you're going to love it. has are you going to major in? you know? >> um, i'm not sure. i think theater, i'm pretty sure. >> jimmy: you'll do great in that. you're fantastic. this picture that came out a couple weeks ago. this is gorgeous. look at your picture in there. isn't that cool? [ applause ] you look

and i'm sure you run into that -- you taught at yale and nyu, stanford. what do you tell aspiring actors as the best advice that you could give them for starting out. >> letters for young artist is my book too we were joking about a minute ago is all about. that what i try -- first of all, becoming a star is a bunch of variety of things that you may or may not have control over. i don't actually think myself that's a very good pursuit and you have to question why you are pursuing that in a society that is full of celebrity and reveer it for good reasons and bad reasons. one reason is to find out something about you and bless all over the world that you don't want people to know. it's not necessarily a great predicament. we will call tapredicament. but again i think that what you can do with this natural ability that you have to attract attention is turn the camera passed you going on in something in the world. and another thing i try to say to aspiring actors is that you got to know what you are doing. i say look, put a sign in your -- on your mirror that

i teach at nyu. i've been teaching for 14 years, expect for the years i was in government. i spend a lot of time in mexico, lecturing and speaking all over the country trying to push forward ideas like the ones that are in the books. i dabble in politicking, but i try to stay a little bit away from it. i write a lot. i'm not sure how long, but a lot. if it were by quantity, i'd be doing mine. "manana forever"? here's the version to be sold in the united states, here's the version to be sold in mexican. why a different cover? >> two reasons, i like the mexican cover for the u.s., but the people said it was too somber. and the u.s. cover in mexico has an arguably legal status. look at it, if you can put it on back, you see the mexican eagle is divided in two. this is the center of the mexican flag. you've got the top of the eagle at the bottom and the bottom of the eagle at the top. in mexico, disporting the national emblem and flag is a dubious legal status. we decided not to risk it. >> what is this on the cover? >> this is a painting by the person that most people consider

>> i spend about a third of my year in new york city teaching at nyu. i spend a lot of time in mexico before and lecturing and speaking all over the country trying to put forward ideas like the ones in these books. i dabble in politics, but try to stay away from it, and i've read a lot and. but. >> here is the english version to be sold in the united states. here is the spanish-language version to be sold in the united states. finally, here is the version in mexico. why add different cover? >> two reasons. i like the mexican cover for the u.s., but they said it was too somber. the u.s. cover in mexico has an arguable legal status because if you look at it, if you can put it back on, you'll see the mexican a goal is divided into. this is the center of the mexican flag. you have the top of the eagle at the bottom and the bottom of the bill at the top. in mexico distorting the national emblem and flag is a dubious legal status. so we decided not to restrict. >> go back to the mexican version. >> this is a painting by a person i consider to be mexico's fore

so i went to nyu drama school and it was really expensive.ow, big, expensive university and i had a lot of student loans and i would get the bills and my dad would be like, oh, don't worry about that they don't keep track of those loans. just rip them up. >> jimmy: for real? >> for real. >> jimmy: and would you? >> i would! my sister and i were like, woo! you know? free money. >> jimmy: really? >> really. >> jimmy: did they forget about them? >> he really believed they couldn't track us down. they tracked me down. >> jimmy: they did. you are the one with the confetti in the air around you. >> yeah. so when i got "saturday night live" i was able to pay it off. and i owed a lot of money. >> jimmy: did you get penalties and that stuff? >> yeah, yeah. penalties? >> jimmy: dad really was a trickster. he tricked you into going almost into bankruptcy. >> he did, exactly. . >> jimmy: and you made a book about it. >> he was just the kind of person that was just like, cash, too, when he were little, pretty young growing up i baby sat to make money and

nyu law school is no exception.ake of the attacks. it quickly became one of the leading institutions where policy makers and government officials and journalists gathered to steady the major because security policy is used in a post-9/11 environment. we were already a leading voice on important issues such as voting rights, racial justice. at the time, and we've created a security program aimed at ensuring our commitment to national security and fundamental freedoms. at no time has this mission been more important. we have done exceptional work in this area. as we near the 10th anniversary of 9/11, we are reminded of the challenges that are raised in nearly every day. sadly, we are also reminded that the security of nations persist. in what may be gone that extremism and terrorism are not. the mission of the department which secretary napolitano leads is as important today as when it was formed years ago. on this note, i am delighted to welcome janet napolitano, the secretary of the department of homeland's security

important that we take this opportunity, and i particularly want to note some of the colleagues at the nyu school because they have done some great analytical work on this and also some pretty practical ideas have come out of that but it serves us all very well. as we talk about dodd-frank, the discussions in important ways revolves around the disruptions, the difficulties we've had over this crisis and the distortions that have come from the systemically important financial institutions for sifi. part of the title, the title given was do sifi have a future my remarks are should they have a future. and that's really i think what it's about. and as we talk about the sifi, i always try to ask myself some fundamental questions and that is how in the world could we have investment banks that is relatively minor importance in the global basis merit bailout and how can another investment bank with its failure caused such devastation in the area of the collapse of the financial and economic system around the world and how can a large insurance company that has failed be bailed out and left in pri

linda lavenstein who was an oncologist at nyu in the very forefront of doctors that were seeing c posents -- karposis paties and understanding it does not show up in otherwise healthy men, usually in their 20's which is what they sawith t first 16 or so cases so it was very confounding to her. . and s had polio. so there was a further identity with the community that was stricken by a foreign virus, an emotional connection? >> you had two weeks to prepare for this is. >> yes. >> i have all of these questions i would ask a normal actor. >> we don't even think of that. >> we don't even go there. >> not running on that treaill. >> rose: how is it to be back on stage? >> wonderful. wonderful. feels great. it's been great. everybody is obviously, you know, the response to the play has been enormous and amazing and very heart-feltnd i think -- >> rose: you mean from the reviews to the audience to people in the street? >> i speak most i hadabout wt goes on between us andthe audiences. the reviews have been great. the accolades that we have received have been great. but what goes on, and john

she has done some great work as her colleagues have and as nyu has gone, the capitol issue is almost propaganda in terms of what the impact would be because the stronger and safer the lower the return on the equity needs to be for the capitol for the capitol seekers and so forth, and so what you are trying to do as a manager's take advantage of the environment's you've been given to get her on equity up. so she has done great work. it does reviewed this idea and is we won't have growth in this country and i tell people we've had a lot of institutions with strong capital and you always do better when you're working from a position in terms of your decisions and allocations and resource that is important and i hope her work continues. the point is yes it is difficult and it should be difficult because you have different parties. one of my concerns that i bring up when i do read the concentration. the institutions are far more powerful today than they were 20 or 30 years ago. i didn't put in these remarks but it's the fact that when the federal reserve was formed number of jpmorgan the

for the reasons you said. >> i am a professor at the nyu school of business. michael, i was one of the faculty members involved in the book project where we tried -- all these other professions, like 30 of them to do an analysis of dodd-frank. they kept on changing the act, you know, during 2009, so a professor would write something and they would have to e-mail them and say by the way, this does all the more so could you rewrite it. >> you want me to get a little violin for you? [laughter] >> i'm getting to my point. [laughter] >> so a lot changed in the act, so my question to you is kind of during that process, what things were you sort of not so happy about being removed, and also not happy about being put in? given that you were, you know, involved. >> there were lots of moving pieces and active change over time. i think at the end of the day, i would give us a solid a- in terms of what came out in the final product. a bunch of things were added that were not really i think central to reform, something's got weekend -- weekend around the edges. i would say

. >> reporter: nyu professor of financial history, chairman of the museum of american finance on wallear these ads that say the world is to come to an end, we're going to have hyperinflation so you better buy gold. that's fear. >> the dollar has lost 20% of its value in just the past ten years. >> reporter: rosalyn capital's ads feature g.gordon lidy the former watergate conspiracy. he also talks of gold on his radio show. do you buy gold out of fear? >> no. i buy gold out of prudence. >> reporter: here's the thinking among people. the u.s. is printing too much money. that's hurting the dollar's value. we're headed toward inflation. couple that with instability overseas and growth in china and india, and some believe that makes gold very attractive. >> i think the trend is clearly up over the next few months. >> reporter: jeffrey nichols is an advisor to rosalyn capital. he suggests investors put 5-10% of their portfolio in gold. you're not advocateor for people to go out and put their entire worth into gold. >> absolutely not. nor would i advocate them to put their entire wore even i

i teach at nyu. i had been there now for 14 years except for the years i was in government. i spend a lot of time in mexico lecturing and speaking all over the country, trying to put forward ideas like the ones that are in these books. i gavel in politics but tried to stay a little bit away from it. and i write a lot. i'm not sure how well but certainly i write a lot. >> "manana forever?" is the name of the book. here is the english version to be sold in the united states. here is the spanish-language version to be sold in the united states. and finally, here is the version to be sold in mexico. why a different cover on the mexican version? >> two reasons. i like the mexican cover for the u.s., but the people said it was too somber. the u.s. cover in mexico has an arguable legal status because if you look at it, if you can put it back on, you see the mexican eagle is divided into. this is the center of the mexican flag. you've got the top of the eagle at the bottom and you have the bottom of the eagle at the top. and in mexico, distorting the national emblem and flag is a du

marc siegl, member of our medical a team, professor of medicine at nyu's medical center, how you doing? >> good morning, bill. bill: what's the issue here, what's the warning? >> the concern is when you get very, very close to the smoke it can really irritate people who have asthma, underlying lung disease or heart disease who need the most oxygen they can get and they may not know they have those problems. this morning in colorado, it's still not that bad, air quality is moderate, which isn't bad but this can come in in a hurry and the rule of thumb is if you can't see more than 5 miles looking down the road from where your house is and the smoke is in your way, that means there could be a problem. for most people, it will just mean irritation to the eyes, watering nose, things like that, but for people with asthma, lung disease, heart disease, those are the people you have to watch out for. bill: what are the particles in the smoke that folks like you talk about? >> first the problem with the smoke is, of course, carbon dioxide and carbon monoxide but we call it par lick lat matter,

two sociologists at nyu found in a report that 36% of college students showed no increase in criticalplex reasoning, or writing over four years of college. so the quality of undergraduate learning is plummeting, at the same time that costs are skyrocketing. >> okay. so it cost too much and you learn too little. you have founded what is called "uncollege." tell us about the project and how it advances your message. >> uncollege is a social movement promoting self-directed motivation. i'm writing a book about the opportunity costs of going to college, to help individuals gain the skills requisite for success in the 21st century, irrespective of whether you have letters after your name. we're building a platform called rad matter to credential life-long learning experiences. the beauty of the internet is that we can dynamically represent what we've done, and tell about it instead of statically show it on our resume. and we've seen the rise of creative and professional social networks for jobs, but traditionally, nontraditional routes into the job force have been served for those create a

and thanks for pew and nyu to organize this great conference. i will talk about structured credit markets and in particular the way and that dodd-frank is changing securitization. there are some slides that were distributed just over lunch, so you can basically follow the slides. talking about two areas -- securitization and acp conduits, a subset of securitization. first of all, let me start by saying that my views are my own and not necessarily representative of the federal reserve bank of new york for the federal reserve system. when you think about that shadow banking system, securitization is really key to it. and when you think about the financial crisis, securitization is one of the key building blocks to the crisis. particularly underwriting standards deteriorated rapidly in 2005, 2006, and 2007 in the deterioration also linked to the ability of our originators to securitized and sell off risk. so, when the securitized there's -- securitizeers and other holders, when the incentives are not aligned and there is moral hazard, linked to the

and put the 3% hard leverage requirement that is now in basal iii, and we just use the estimates from nyu which range on losses across firms. in the cross section of large financial firms, we had capital requirements from 5%-11%, but the point is they vary with the objective criteria of a particular measure. you can have another criteria based on probability of default or something else, but it's not willie-nilly, but becaused on activity. that's what worries me in the end. it's discretionary that tom talked about and not sort of deal with a little bit of harder facts. thank you. >> okay. thank you very much, and sorry for my lateness, but that was fascinating and i know journalists are meant to be adverse to equations, but i'm surprise your instruction was in a room like this, equation was dangerous. next we'll hear from the fed and get a perspective of how you're looking at this there. >> thank you. i'm nelly lang, direct of a new office created recently in part response to the dodd-frank and in part recognizing the financial stability mandate of the central bank, so i was asked to just

professor possessor in, you taught me contracts as a first year law student when you were visiting at nyu. you were a favorite of the students in our section. i'm wondering how, if at all, you believe your work on social norms relates to hayak's view on the distinction between law and legislation. >> guest: it's nice to hear from a former student, and it's -- >> host: who liked yes. >> guest: yes. even more so. and it's a typically challenging question. hayak is a famous thinker who is well known for -- as a critic of the regulatory state, and he believes the government, simplifying greatly, didn't have enough information to engage in the kind of regulation that liberals support. now, there is a connection between that view and my view of that social norms, and one of the points i made about social norms, which i made earlier, is that they govern people's behavior to an extent that is onunderestimated and the doesn't take it into account when it enacts regulation. you can have perverse outcomes. in that sense, hayak is right, but the government has to be cautious when it passes laws and r

it's a great pleasure to be here, and i want to thank pew and nyu stern, and in particular charles taylorfor inviting me. this session deals with international constraints on the effectiveness of dodd-frank. in my remarks i'm going to argue that the problem for dodd-frank is not that we have many multilateral institutions getting with financial regulatory reform, and that these institutions are issuing rules or guidelines that conflict with one another or conflict with dodd-frank. the problem instead is that some key aspects of financial regulatory reform are set by international standard setting bodies, and that in order to get agreement within those bodies you have to settle for standards that are inadequate. put nor do you have to settle for half a loaf it does many members of the g20 or the basel committee on banking supervision will not go along for a full loaf. i'm going to illustrate my argument by discussing two elements of reform. one did with financial regular reform, namely basel iii on men and capital standards, including the sifi surcharge that was announced this weekend. and

. >> agreed to be back at nyu.o talk about where we stand and some of the issues confronting homeland's security now 10 years after the attack of 9/11. thank you for that introduction. thank you, michael, for allowing me to come back. me to come back.

this e-mails in to you you taught me contracts as a first-year law student when you were visiting at nyuu were a favorite of the students in our section. i am wondering how if at all you believe your work on social mores relates to hayek's view on the distinction between law and legislation? >> guest: nice to hear from a former student. >> host: who like you. >> guest: even more so. it typically challenging question. hayek was a famous thinker well known for as the critic of the regulatory state and he believes the government simplifying greatly didn't have enough information to engage in the kind of regulation the liberals support. there is a connection between that you and my review of social norms. one of the points i made about social mores is they govern people's behavior to a tremendous extent which is underestimated and if the government doesn't take into account how people are in fact influenced by social norms when they enact regulation, you could have bad advocates. he is right and i think a lot of people think he was right. that the government has to be very cautious when it p

i learned this during my training at nyu.>> how about half and half? >> aloe vera. it can be very soothing. if you're lucky enough to have an aloe plant at home, apply it directly to your skin or find it at your local drug store. >> i have a little burn on my arm, does that help, as well? >> that's the real deal. >> right out of there. >> all these creams are good to treat after, right? >> if you do suffer a burn, you can do over-the-counter hydrocortisone creams. simple things like using cucumbers or tea bags, popping an ibuprofen. >> did you ever have a sun burn? >> when i was a child. i'm very careful now. >> coming up, investing in their future, money lessons for kids. >> a silver anniversary celebration for a country star, randy travis. [ barbara ] i was the firstborn. my dadechea exp--tey bod hat's why my ns kne'y.ambobb there's something really rewarding about raising animals that provide. this is a great life, and as you start contemplating having children and i want my kids to be raised the way i was raised. ♪ [ male