here is paul o'neill, the former treasury secretary.good to have you with us. >> thank you. >> i want to get your take on the overall economy. there is this debate on the street whether or not qe 3 is warranted, is necessary. president fisher said, no it's time for dr. fed to wean this off. probably april or june meeting we will need qe 3. what do you think? >> i don't think we need qe 3. i think -- i guess i'm on the side of we will see a fairly positive, consistent, not gang busters growth cycle but i think this year arguably we're at 3% gdp and, you know, i think there are limits to how much more strain we can push at the fed. it's unbelievable how much we have done with $10 trillion or so. and so i don't think we need more liquidity and action that the fed can supply and i think -- you know, the thing that is holding us back is the architectural president who is guiding people every day by telling them the truth about things that they don't want to know. >> i'm sorry. but the fact that it seems out of reach doesn't seem to me to be

in the book we told the story of paul o'neill taking over alcoa before he became treasury secretary.he comes into alcoa and rather than saying-- largest aluminum company in the world at the time. rather than focusing on profits or efficiency he says "i'm going to focus on worker safety habit which is causes shareholders to worry a little bit." but he realized that was a keystone habit for the organization that if he changed habits around worker safety it would start a change reaction that would transform the culture of the entire company and that's what happened. within captioning sponsored by >> changing these basic organizational habits about how you approach things and the culture shifts as a result. >> what did you find in china when you went there? >> what we found was that conditions in apple factories for a number of people were fairly harsh. and apple has been... apple has been one of the biggest sources of information about what conditions are like inside the factories to put this in the right perspective the one thing i should say is in the last few months, particularly sin

paul o'neill when he was treasury secretary said that even the irs can't understand the tax code.y like. carl, back to you. >> thank you very much. rick santelli. when we come back the acting comptroller of the currency john walsh with us live to discuss regulations, safeguarding the financial system and a lot more. [ artis brown ] america is facing some tough challenges right now. two of the most important are energy security and economic growth. north america actually has one of the largest oil reserves in the world. a large part of that is oil sands. this resource has the ability to create hundreds of thousands of jobs. at our kearl project in canada, we'll be able to produce these oil sands with the same emissions as many other oils and that's a huge breakthrough. that's good for our country's energy security and our economy. >>> turning our attention to the future and health of our community banks. the end pind community bankers of america is taking place in nashville. it's the largest and most come prensive of bankers. acting comptroller of the currency john walsh joins us t

projected $850 billion in savings annually, and the lewin group and former bush treasury secretary paul o'neill have estimated the savings at $1 trillion a year. whichever is accurate, this is clearly an enormous opportunity, and it's right before us. we can achieve better results for american patients and families and spend less to do it. as i said, the solutions fall into five priority areas: payment reform, primary and preventive care, measuring and reporting quality, administrative simplification, and health information infrastructure. these solutions do not cut benefits. they do not increase premiums. instead, they realign incentives to reduce or get rid of overpriced or unnecessary services, inefficiently delivered care, excessive administrative cost, and missed prevention opportunities. in this report, we outline actual savings and care improvements that can be found in each priority area. for example, payment reform refers to the new payment reform models that pay doctors more for egetting better results, as opposed to for ordering more procedures. in 2010, blue shield of california dla

paul robeson. so whatever was current, he was a big fan. he had a huge, huge record collection. >> how big? >> you know, hundreds of records. many of them are in the hands of the eugene o'neillation, which is our partner up here. they have many of o'neill's original records. the national park service has some. so it's just a huge, extensive collection. >> so when they built this house, when they designed this house, they literally built this as a music room? >> yes, and actually, this is one of the few rooms in the house that eugene o'neill himself designed. carlotta designed the bulk of the house, but this room and his rooms upstairs were under o'neill's design. >> do you think he envisioned a player piano like this in here? >> oh, absolutely. they brought their player piano from georgia with them. they shipped it out here. so it was one of the few things that they actually brought from the home in georgia. >> well, i was halfway out the door of the music room and joanne insisted that we stop and look over here at this wall of photographs because this ties in directly with eugene o'neill's family and with some of the work he did at this home. >> absolutely. this is-- this w