comes out paul volcker was forced out because the white house is going more pro-business and we know what pro-business means now nowadays and that means massive monetary inflation that helps them and destroys the purchasing power and quality of life for the bottom ninety nine percent volcker known for taming inflation in the one nine hundred eighty s. was disappointed with the way his advisory group became a public relations tool for the white house as its meetings with the president were televised live making honest discussion difficult to conduct the person familiar with his views said you know the first pro business is code for corporate pro genocide we have to remember they're in fed speak everything is fed speak it's all code to communicate something just to these insiders while actually you know confusing the rest of the population that brings me to this final headline cash for gold offer bolsters h. and t. and this is in the united kingdom and this pawnbroker in the u.k. their profits are soaring their margins are now about thirty percent and the reason is because there's been

this would replace the board headed by paul volcker to the mission is to find new ways of growth.what is the back door on this? >> the back store is that the president got shellacked in november and has done an astonishing turn to become business-friendly and a centrist, all in two months. you see a bump in the polls to see how smart politically is it began with the tax-cut deal, dissing his left, and welcoming the hannity, trying to get friendly with the business -- welcome the head of ge, trying to get friendly with business. he is smart and the way he is approaching it. >> the american economy has arrived in large part based on its consumer buying. that has hit a wall. we have to find out another way to make jobs and make money for people. if we don't do that, the consumer economy will not only hit the wall, it will fizzle. >> it is jeffrey immelt going to be able to figure that out? >> no, no one expects this advisory committee to get us out of the trough. it is symbolic, representing the president taking note of the importance of the private sector in this recovery. but the a

called the president's economic recovery advisory board led by former federal reserve chairman paul volckerwho according to reuters news agency is stepping down. here's a look at other news stories making news early today in america. >>> in california a 235 foot tall delta 4 rocket took off from vandenberg air force base. the payload contains a classified spy satellite. all previous delta 4 launches were all from cape canaveral in florida. >>> in texas the work day turned horrific for auto store employees who were about to close up shop. an armed robber entered waving his gun and demanding money from the safe and the employees' wallets. the suspect's face was caught on surveillance video, but no arrests have been made. >>> in new mexico a teacher did much more than give one of her students a time-out. cell phone video shows the teacher and several students locking up their allegedly unruly classmate in a caged area. authorities say the teacher could face abuse and false imprisonment charges. >>> and in oklahoma icy roads created scary moments for a couple of drivers. icy patches caused one

this replaces the economic advisory board led by former fed chairman paul volcker. a just-released cbs news/"new york times" poll finds a large majority of americans, 74%, say the condition of the economy is bad. that same poll finds the president with a 49% approval rating, just slightly better than the past few months. >> people are sensing that the economy is gradually recovering. so you would expect that number to continue to go up. it's still not very high. and for president obama to be re-elected it has to be a heck of a lot higher by 2012. >> it's reported that a large group of house republicans are calling for steeper cuts in federal spending. "the new york times" reports the group wants a $2.5 trillion cut from the budget over the next decade. that includes at least $100 billion in immediate reductions. that's far more than the gop leadership had sought so far. >>> later today, arizona governor jan brewer will sign a federal bill seeking a federal waiver that allows arizona to temporarily cut its medicaid enrollment. brewer said the state can't afford its c

. >>> there are reports economic adviser paul volcker will leave his white house job next month. >>>nner who bought a winning ticket at a washington state supermarket goes public tonight. that winner will split the $380 million jackpot with a winner from idaho who has yet to come forward. >>> after months of guessing what the wedding of the year will look like, finally we have some answers and we know you have been waiting for this, rob. >> bated breath. in very royal fashion the details were released on twitter. here's nick watt. >> reporter: first of all, the bad news. kate and william will marry at 11:00 a.m. london time. that's 6:00 a.m. in new york. 3:00 a.m. in l.a. you guys will have to get up pretty early on april 29th. here's what else we know. kate will be driven by car to westminster abbey, william and the altar. >> she wanted to avoid comparisons with the late princess of wales who arrived in that golden, glossed carriage. >> reporter: after eight years of courting, this archbishop will marry them. this bishop will say a few words. then the newlyweds will ride, yes in a c

and it economist, paul volcker. he offered on varnished advice. he was unafraid to counter the conventional wisdom. he did a great service to this country. it was six months ago today that i signed into law a set of financial reforms that protect consumers and put an end to tax payer funded bailout. that was an achievement for which paul volcker was instrumental. we are proud of that work. [applause] two years later, we are in a different place. because of the economic plan my recovery board helped to shape, the economy is growing again. businesses have added more than 1 million jobs. the pace of hiring and growth is picking up. that is encouraging news. at the same time, while businesses are adding jobs, many people are still looking for work. even in schenectady, i know everyone here has a neighbor or relative who is still out of work. it is a great thing that the economy is growing. it is not growing fast enough yet to make up for the damage that was done by the recession. the past two years or about pulling our economy back from the brink. the

also on the way out, highly-respected former fed chair, paul volcker, who will end his term on the economic advisory panel next month. so, who is in? former commerce secretary william daley will likely be the new chief of staff. he met with the president last night. and the architect of the 2008 election, david plouffe, starts his new senior adviser role come monday. >>> amid all those changes, president obama also makes a high-level appointment today. he's asking holly petraeus to help the nation's military families. she is the wife of general david petraeus, who is the top u.s. general in afghanistan. holly petraeus will advocate for military families on consumer issues, like dealing with scam artists who prey on young service members. >>> the first finding of a presidential panel's investigation on the bp oil spill is now out. it blames three companies. bp, halliburton and transocean, for making decisions designed to save both time and money. and the report says the combination of those decisions overwhelmed any safeguards being taken. it also claims that without significant industry and

it replaces the economic advisory board headed by paul volcker.kers. this is about 25 minutes. >> welcome to the capital region. i would also like to welcome the governor. it's great to have you here. i know we have a number of members from the congressional delegation. welcome to the birthplace of ge more than 100 years ago. [applause] this is where innovation was born, right here in schenectady. this business was one of the few businesses in the world that had a positive earnings during every year of the crisis. right here in this facility we have four thousand employees working on renewable energy and doing a fantastic job. we have 7000 employees in the capital region. [applause] we build things here. we are a big exporter. 90% of all the products made in this facility are exported outside of the united states. we know in g e the feature is given to no one. we have to compete and win. we know that this team can compete with anybody in the world. we can absolutely do what it takes. [applause] in the vein of competitiveness and exports and manufa

this replaces the president's advisory board headed by paul volcker. he spoke to workers and officially announced the appointment. >> i know that is not for me. that is for our special guest. i know we have any number of members from the congressional delegation. i would like to thank our representatives. thank you for your help. welcome to the other guests. welcome to the birthplace of ge more than 100 years ago. [applause] i like to think that this is where capitalism and innovation was born. we are proud of this site and we are proud of all of you. this was one of the few businesses in the world to have positive earnings every year during the crisis. we did this because we are an exporter and we are a high-tech story. we have 4000 employees that work on power generation, water, renewable energy. in the capital region, we are big with 7000 employees. we in a state with a global research center, we build things here, we are a big exporter. 90% of exported outside of the united states. this is an example of what we want to do to renew this country and

in the beginning of the 1980's, paul volcker, then the chairman of the federal reserve board, but the country through an awful recession. this recession resulted in the unemployment reaching almost 11%, but it did purge the country of inflationary psychology. that was one of our problems, high inflation. the other economic problem we had at that time was that our management had become overconfident and complacent and many of our companies were being mismanaged. that was a problem but also was salt more or less in the 1980's. beginning in the early 1980's, we had a 25-year boom essentially. in the course of that 25-year oom were the solving of these problems we were experiencing in the late 1970's. the problems we have now, it seems we are much more reluctant to address and find it much harder to address. it may be that the reagan- volcker alliance that crushed inflation was a happy accident for this country, that if we had other leaders at the time they would not have done that. i have argued that that is the case. but right now, for the last 20 years, we have not had political leader

we said we have to get rid of inflation so paul volcker got a green light for what he knew how to do and he did it. we knew we'd take a beating and we did. >> rose: take your medicine now because... >> take your medicine because you cannot have a healthy growth with inflation. so get rid of inflation at the same time cut taxes so you provide incentives in the economy and build up our strength vis-a-vis the soviet union. well we had put that into effect. we took a beating but then we came out of it very strongly and there was a strategy. we want to get from "a" to "b." we want to get to strong growth without inflation. >> rose: okay, but let's look at the... >> now, what's happened is we're sort of reeling around and throwing money all over the place and it really isn't getting us anywhere. we don't have a strategy and that's what we need. >> rose: do you believe this president is, in fact, getting his house in order? >> i hope so because we need presidential leadership. but i think what he has... people are saying he's got a hostile congress. i think he's lucky. he's got a congress t

previously served on the economic recovery advisory board chaired by former federal reserve chairman paul volcker. today's announcement signals an administration shift from policies designed to stabilize the economy towards a renewed focus on boosting job growth. naming a prominent c.e.o. to head the panel underscored the president's recent attempts to shore up relations with the business community. immelt was one of 20 c.e.o.s who met with the president during a daylong summit at blair house last month, and one of 14 u.s. business leaders invited to meet with chinese president hu jintao at the white house this week. on tuesday, the president ordered a review of federal regulations on businesses which may hurt job creation. he wrote in "the wall street journal": "our economy is not a zero-sum game. regulations do have costs. often, as a country, we have to make tough decisions about whether those costs are necessary." meanwhile, yesterday, first lady michelle obama joined executives from walmart, the nation's largest retailer, to promote healthier eating habits. >> when i see a company like walma

immelt was on the outside board of advisers that paul volcker ran before immelt. so, you know, he's kind of rising to that spot. the important thing for immelt, how is he going to balance these two roles? these still running a major company. whose interest is he going to represent to the president, the u.s. economy's or general electric's? i think that's something that people have to take a closer look at. >> that's right. now, they've mended their relationship. the president has done his part. now it's the ceo's responsibility to finally get jobs created. what are we going to see next? and are we going to see more jobs added now? >> well, you know, this is an interesting thing. the president is talking to ceos of big business. a lot of academic research has shown that the people who create jobs are entrepreneurs. not only small businesses, but people who are starting new businesses. so i'm looking to see whether or not he brings entrepreneurs and how he brings what piece of the picture into the outside advisers that are talking. >> we heard in david's piece, what

times union" reports that the president is expected to announce that jeff immelt will replace paul volcker on a new council on jobs and competitiveness -- a panel created to look a job creation. when obama addresses the economy and in g e's plans for green energy projects, mr. jeff immelt will be at his side. we will cover that appearance on c-span2. look for that shortly after 1:00 this afternoon. hear, on c-span, we are waiting to hear from democrats in a moment or two. at 12:15, where we will take you live to the u.s. neighbors. they are wrapping up their annual winter meeting in washington. they will be talking about the economy. if they will have business leaders and the housing secretary there. one more note on congress, of course the state of the union is tuesday night. we will have that for you here, on c-span, beginning at 8:00 p.m. eastern. it has been reported that paul ryan will be the republican who will give the republican response. all of that tuesday night, with coverage here on c-span and c- span2. while we wait for democrats to come out, we will bring you some items in th

chair the white house on jobs -- [applause] >> that was headed by former federal reserve chair paul volckertulations. nice to have you here. [applause] >> i know you're here and it's great to have you here. nice to see you again. i know we've got a number of members from the congressional delegation. i particularly want to thank paul, who's been a great representative. thanks. [applause] >> and welcome to all the other guests here today. a welcome to the birth place of ge more than 100 years ago. [applause] >> i'd like to think this is where capitalism and where innovation really was born with thomas edison in schenectady. this business was one of the few businesses in the world mr. president that had positive earnings every year during the crisis. we did it because we're big exporter. we're a high tech company and that's very much the story. we're the number one wind -- right here in this facility. we have 4,000 employees to work on power, wind and renewable energy. and we're very good with the capital region with 7,000 employees. we innovate with the -- [applause] >> really. [applause] ..