on economic policy, warren buffett and former fed chairman paul volcker. if i'm interested in figuring out foreign policy, i associate myself with joe biden, or with dick lugar, the republican ranking member on the senate foreign relations committee, or general jim jones, the former supreme allied commander of nato. those are the people, democrats and republicans, who have shaped my ideas, and who will be surrounding me in the white house. glenn: ok. so, who is surrounding him? here is healthcare. what are the roots of healthcare? who are surrounding him? i'm going to introduce you to these people and ask you this question -- why is van jones, the green jobs movement, why is he so interested in your healthcare? when we come back. faster and er than ever before? well now you can, introducing the new... powerful... lightweight... oreck xl platinum vacuum. you don't vacuum open floors, you vacuum rooms filled with furniture. and the xl platinum makes cleaning under, around, and behind them, fast and easy! so take advantage of this limited time no-payments-no-

on economic policy, warren buffett and former fed chairman paul volcker.ociate myself with joe biden, or with dick lugar, the republican ranking member on the senate foreign relations committee, or general jim jones, the former supreme allied commander of nato. those are the people, democrats and republicans, who have shaped my ideas, and who will be surrounding me in the white house. glenn: ok. so, who is surrounding him? here is healthcare. what are the roots of healthcare? who are surrounding him? i'm going to introduce you to these people and ask you this question -- why is van jones, the green jobs movement, why is he so interested in your healthcare? healthcare? when we come back. ♪ bicycle, what are we waiting for? the flowers are blooming. the air is sweet. and zyrtec® starts... relieving my allergies... 2 hours faster than claritin®. my worst symptoms feel better, indoors and outdoors. with zyrtec®, the fastest... 24-hour allergy medicine, i promise not to wait as long to go for our ride. zyrtec® works fast, so i can love the air™. in our nation's

on economic policy, warren buffett and former fed chairman paul volcker.'m interested in figuring out foreign policy, i associate myself with joe biden, or with dick lugar, the republican ranking member on the senate foreign relations committee, or general jim jones, the former supreme allied commander of nato. those are the people, democrats and republicans, who have shaped my ideas, and who will be surrounding me in the white house. glenn: ok. so, who is surrounding him? here is healthcare. what are the roots of healthcare? who are surrounding him? i'm going to introduce you to these people and ask you this question -- why is van jones, the green jobs movement, why is he so interested in your healthcare? when we come back. upbeat rock ♪ singer:wanted to get myself a new cell phone ♪ ♪ so i could hear myself as a ringtone ♪ ♪ who knew the store would go and check my credit score ♪ ♪ now all they let me have is this dinosaur ♪ ♪ hello hello hello can anybody hear me? ♪ ♪ i know i know i know i shoulda gone to ♪ ♪ free credit report dot com! ♪ that's where

. >>> paul volcker says it's time to regulate money market mutual funds just as you would a bank. what will that mean for your money? i bet lots offer you out there are invested in money market cash funds. is it ready for new regulation. "the kudlow report" does not want it regulated. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >>> in major win for private equity funds, the sec eased restrictions for buying a brift bank. >> thanks, larry. this afternoon, they took an outside the box approach to stop the drain on the insurance fund triggered by an almost epidemic we' wave of bank failure, 81 and counting, the worst since '92. the key change lowering capital

think of the respect paul volcker and warren buffett get from president obama. i really think when he goes to them, the two people that do not have a conflict of interest, when he goes to them be a talks to them about this, he'll get the right advice. >> that would be interesting, wouldn't it? what about you, mark? where do you fall on the bernanke thing? what would wall street do if he does get reappointed? >> the odds are 78%, down from a low of 50%. this is the biggest balloon ever floated. i think it's floated more for the self-satisfaction of larry summers. bernanke should be giving a ticker tape parade at this point. nobody was laughing when the s&p was at 666 and the dow was at 6,500. now everybody -- let's laugh now that we're at 9,400. this is a trial balloon. he's going to get reappointed. the market will go higher and this is a lot about nothing. >> stop talking when i start talking. al, j.m. here made the point, he thinks that the speculation rising about summers may just be a political stop to summers be a we make him feel good but reappoint bernank

warren buffett and fed chairman, paul volcker. >> foreign policy, joe biden and with dick lugar the rankingember on the senate foreign relations committee or jim jones the supreme allied commander of nato. those are the people that have shaped my ideas and who will be surrounding me in the white house. >> glenn: so who is surrounding him. had a here is health care. what are the roots of health care. who is surrounding him. i'm going introduce you to these people. why is van jones, why is the green movement so interested in your health care? when we come back. is h interested in your healthcare? when we come back. you know why i sell tools? tools are uncomplicated? nothing complicated about a pair of 10 inch hose clamp pliers. you know what's complicated? shipping. shipping's complicated. not really. with priority mail flat rate boxes from the postal service shipping is easy. if it fits, it ships anywhere in the country for a low flat rate. that's not complicated. come on. how about...a handshake. alright. priority mail flat rate boxes only from the postal service. a simpler way to ship. if

paul volcker has a different view. past chairs of had a different view. your point was valid, how you make sure you don't infringe on the insurance function. i think you can achieve that i have a backup authority and going in and checking those institutions, your ongoing role as an insurer and what senator corker and i have talked about, and expanded resolution authority. i also tend to think that the notion of an enhanced system at -- enhanced systemic risk council the would include the fed and treasury and the fdic and others would give you the ability to have those variety of voices heard and i would also just raise one other point, that we have talked in a lot -- talked a lot about the truck during -- the chartering and the ability to change charters, and that beyond that, you have raised a proper questions. each of you have a licensing division. there is a question of the selection of a charter when you are starting an institution. i guess my first question would be having that very nature of the taurus at the beginning, not switching midstream, but

28%, and in combination with reduction in inflation, that was engineered by president reagan and paul volcker, that caused this massive bull market and the huge increase in jobs, and i think you let up with this exactly right. maybe barack obama would be smart to take a page out of his playbook. neil: i did not realize the degree to which taxes across the board were cut back then, that even those in the $30,000 to $35,000 income bracket retained close to 40%. >> can i interrupt you on one point? people forget one of the aspects of that tax cut when people talk about the tax cuts for the rich. one of the most important aspects is when we brought into place the indexing of the tax brackets. the reason all these middle- class people were paying 40% tax rates is because you have the high inflation, so their nominal incomes were growing up, pushing them into higher brackets as their purchasing power was going down. neil: to go back there, it was another year later, and ronald reagan was still very low in the polls, the demonstrative effects of this tax cut still were not being realized. a lot of f

who i associate with on economic policy, i associate with warren buffett and former fed chairman paul volcker. if i'm not interested in checking out my foreign policy, i associate myself with my running mate, joe biden or with dick lugar, the republican-ranking member on the senate foreign relations committee or general jim jones, the former supreme commander of nato. those are the people, democrats and republicans who have shaped my ideas and who will be surrounding me in the white house. glenn: ok. i'm only taking his advice. you want to know what he believes? see the people he surrounds himself with. that's his advice. great. please, america, let's follow his advice. we already know of at least five radical leftists currently advising the president of the united states, and these are just the ones who are open about their radical beliefs and far left ideas. one, van jones. introduced you to him last night. he is our green jobs czar. admits he's a chiewnist! john holdren, the science czar, the forced abortions guy. he has said and i quote "neither the declaration of independence nor the con

. >> paul volcker's a very bright guy, but i gather paul is semi-listened to and summers is, oh, what do i know. but those are very bright people. but they aren't businessmen. the combination, again, that's the executive branch. the legislative branch, i was going to say something rude, but i won't. they've deported themselves -- i'm not going to say it. >> you can say it, john. >> they leave something to be desired. they're so partisan, they're so vindictive, they're so mean-spirited, and these town meetings get every rabble-rouser in town to stand up and show his face on the screen. that's nonsense. >> well, i think you make a lot of good points. john, it's great to have you on the program, as always. >> good luck. >> we so appreciate it. well, we hope you're back with us -- >> my answers, they won't help you. >> they may very well help. hopefully, people are watching out there. john gut froound, always good to talk to you. former ceo salomon brothers, joining us here. throughout the day we've been revealing "fortune" magazine's top five fastest-growing companies. up next we'll tell

and of course president reagan cut taxes and paul volcker broke the back of inflation. now it's the opposite. so you take the fed funds rate from 20 to 0, where we are today, that's a big tail wind. from now you're on the opposecy side of the fence. >> so lincoln, what do you think? jason sounds pretty pessimistic here? >> we're at this fulcrum or tipping point at the moment, and i think the ten-year auction yesterday pointed out a little bit of that weakness, although we had noise because of the fed meeting there, and the 30 year will show what the investors' appetite is for risk. we had quite a significant run, three or four down days in the last 20 trading in equities, and bonds, seemingly stuck in a two-point rake frrange from the two-year to the thirty-year. so volumes have been bright, and i think the wait and see or show me attitude as we go to the second half of the year is founding. >> jason, what might be wrong with your analysis is that market is not oblivious to all of the things you have listed what's wrong with the market and the market has essentially pri

single regulator at the federal level so you don't have the arbitrage, duplication, everybody from paul volcker to all of the past regulators called for this. obviously, have you to push against some of the entrenched interest. but if we're going to do financial regulation right, i think we ought to put this back on the table. >> what about the response from people like sheila baird, who said if you have more than one regulator, have you competition amongst them to be tougher? >> i think we have seen actually the opposite, where you've got banks actually shopping for the place where they can get the least regulation. i have a high respect for slelia baird and the fdic. as a matter of fact, bob corker and i have a bipartisan bill to expand the fdic's authority -- >> i'm sorry to interrupt you, but what if you didn't give the institutions a choice to shop? what sft decision was made in the reverse, where the regulators decided who was going to regulate, rather than the regulate team deciding? >> what you have now is a separate licensing operation in a lot of these regulators where they actually g

paul volcker has a different view. past chairs of had a different view.your point was valid, how you make sure you don't infringe on the insurance function. i think you can achieve that i have a backup authority and going in and checking those institutions, your ongoing role as an insurer and what senator corker and i have talked about, and expanded resolution authority. i also tend to think that the notion of an enhanced system at -- enhanced systemic risk council the would include the fed and treasury and the fdic and others would give you the ability to have those variety of voices heard and i would also just raise one other point, that we have talked in a lot -- talked a lot about the truck during -- the chartering and the ability to change charters, and that beyond that, you have raised a proper questions. each of you have a licensing division. there is a question of the selection of a charter when you are starting an institution. i guess my first question would be having that very nature of the taurus at the beginning, not switching midstream, but t

paul volcker has a different view. past chairs of had a different view. your point was valid, how you make sure you don't infringe on the insurance function. i think you can achieve that i have a backup authority and going in and checking those institutions, your ongoing role as an insurer and what senator corker and i have talked about, and expanded resolution authority. i also tend to think that the notion of an enhanced system at -- enhanced systemic risk council the would include the fed and treasury and the fdic and others would give you the ability to have those variety of voices heard and i would also just raise one other point, that we have talked in a lot -- talked a lot about the truck during -- the chartering and the ability to change charters, and that beyond that, you have raised a proper questions. each of you have a licensing division. there is a question of the selection of a charter when you are starting an institution. i guess my first question would be having that very nature of the taurus at the beginning, not switching midstream, but

paul volcker has a different view. past chairs of had a different view. your point was valid, how you make sure you don't infringe on the insurance function. i think you can achieve that i have a backup authority and going in and checking those institutions, your ongoing role as an insurer and what senator corker and i have talked about, and expanded resolution authority. i also tend to think that the notion of an enhanced system at -- enhanced systemic risk council the would include the fed and treasury and the fdic and others would give you the ability to have those variety of voices heard and i would also just raise one other point, that we have talked in a lot -- talked a lot about the truck during -- the chartering and the ability to change charters, and that beyond that, you have raised a proper questions. each of you have a licensing division. there is a question of the selection of a charter when you are starting an institution. i guess my first question would be having that very nature of the taurus at the beginning, not switching midstream, but

paul volcker has a different view. past chairs of had a different view. your point was valid, how you make sure you don't infringe on the insurance function. i think you can achieve that i have a backup authority and going in and checking those institutions, your ongoing role as an insurer and what senator corker and i have talked about, and expanded resolution authority. i also tend to think that the notion of an enhanced system at -- enhanced systemic risk council the would include the fed and treasury and the fdic and others would give you the ability to have those variety of voices heard and i would also just raise one other point, that we have talked in a lot -- talked a lot about the truck during -- the chartering and the ability to change charters, and that beyond that, you have raised a proper questions. each of you have a licensing division. there is a question of the selection of a charter when you are starting an institution. i guess my first question would be having that very nature of the taurus at the beginning, not switching midstream, but

near give them away for free so this was a prosperity and it wasn't just reagan, it was reagan, paul volcker, bill gates and yes bill clinton. we were big fans of what bill clinton did on the economy. he was a genuine democrat for free trade, welfare reform, capital gains tax cut, we balanced the budget by 2000. i would like to see more bill clinton in barack obama policies. one of the things that concerns us is the democratic party is not a new democratic party any longer it is a kind of old democratic party in fact the democrats talk over and over again how this is a new new deal we are facing right now. if you look -- this is the last thing i. we have a chapter in the book about the great depression and this is one of the things so troubling to me we can't even agree what happened in the past let alone what we should do in the future and if you look at the new deal, just look at the objective evidence and i have debated, arthur and i do it all the time debate our friend, robert reich, clinton's labor secretary and good guy we both enjoyed being with him he keeps talking about what a great

it was reagan, paul volcker and bill gates and yes it was bill clinton. we were big fans of what bill clinton did on the economy. we did the welfare reform, the capital gains tax cut. we balance the budget by 2000. i would like to see more of bill clinton and barack obama's policies. one of the things that concerns us as the democratic party is that is not a democratic party any longer. it is kind of an old democratic party. the democrats talk over and over about how this thing to come in new deal we are facing right now. this is the last thing i will say and i will turn it over to arthur. we have a chapter in the book about the great depression and this is one of the things that is so troubling to me, we can even agree on what happened in the past led loan but we should do in the future and if you look at the new deal, if you look good the objective. we debate our friend robert reich eulace clinton's labor secretary, a good guy. we both enjoyed being with him but he keeps talking about what a great success the new deal was and we talk in the book about w

publicly aligned him with brent scowcroft and the number of other people, carla hills, even a paul volckerand others have not called for the united states necessarily to buy latter linkage with hamas right away but to end the isolation of hamas and the penalties and other allies of the french come to mind in particular. my view is in the political terrain in the region want to allow one not to enjoy deal with this sort of -- it doesn't mean you abuse bad behavior's but not to have engaged and to me doesn't make sense in terms of driving our policy for the so i do believe in ending the isolation of a hamas. of me say one thing about the obama administration, the folks that matter in making these are struggling over this themselves and a lot is going on right now this week as we speak. some have come from the center of american progress, folks want to try to make others have illegitimacy and looking like winners because they have been so undermined whether israeli governments or the u.s. and various points, the legitimacy and credibility has been undermined so they're trying to show the nego