well, no sooner did he do that, okay, paul volcker came out and wanted to make a comment about how this is a must read, and it was a must read, and he wanted to put a forward into the book, so we added the forward into the book. and then we saw it again when steve forbes, another good friend, you know, was working on the european crisis at the time and was trying to make sense of certain aspects. and he came out and said this is a must read for angela merkel, nicolas sarkozy and dave cameron. now, in my way of thinking he left out some southern european countries that might also have gotten something out of it, but it's easy to see why, you know, a after you get a read of it, you know, why so many people need to know what bill knows and how he knew it and what he did with it in terms of doing it. now, everybody knows that bill spent 53 years at citigroup. now, i've heard over 50, bill, i've heard 55 today, and so we're going to go with over 50. that's a considerable amount of time. and when you think about that time frame and going back and whatever, he was a devout disciple of our late

i think one of the things i learned from my friend paul volcker, and i learned this early in the 1980s during the latin american debt crisis is that the timing is of the utmost importance because the longer you take to fix the situation, the worse it gets. and again there's been no sense of urgency or timing in europe up until very recently. the feeling was that the policymakers there, politicians had all the time in the world. and we see what that's brought. the growth, or lack thereof, in the area. so i think the timing really, when you announced timelines, you've got to live up to them. we still don't have important timelines that are being lived up to there. i think another one is, if we want a program in the country, austerity or better called reform program, we've got to make sure that the local populace of a country supports. and that's been a problem day one in a country like greece. i think this is somewhat better in portugal, better in ireland, but still having problems there. so you've got to get the people support. don't we do that is say, this program is going into it's a

there was paul volcker headed up on corporate tax reform.f the ideas i agreed with, but he didn't move anything on those. i think it's because he has ideological disposition that is very much at odds with these businessmen and women are saying. by the way, these are corporate leaders. these are the people that ought to know how to create jobs because they do it every day. by the way, there are many in the cabinet, as you know, this is one of my criticisms of the past cabinet and this cabinet, name distinguished business leaders in the cab knelt. i can't. >> neil: steve moore, thank you very much. >> i wish he would listen to his own advice. >> neil: there you go. you can forget about booking that spring break this weekend. it's about the party because guess what, i'm going to be in party central on monday. that is right, that is right. i'm going to be bringing you nonstop coverage of the presidential inauguration that will out do any trip to cancun or fort lauderdale. if you got such tickets, cancel them now, catch me at 11:00 a.m. on fbn, i

and then finally, paul volcker who was chairman of the federal reserve and his colleagues decided to whack the economy over the head really hard and take the inflation out of the system, and finally it did, although it took a while. it wasn't really until the fall in oil prices in '86, but we really got rid of the inflation demon and, i think in some ways, laid the groundwork for the period following that in the 1990s when we had strong productivity growth, we had strong markets really starting in the mid 1980s. so the analogy in my mind is we have this deficit that's now hanging over us, um, and for some of the same reasons it's a really hard problem to solve. it lacks a federal reserve, so we don't have the equivalent of an actor like paul volcker who can come in and say, okay, we're going to tackle this problem. and this is unpopular, but we're going to do it. instead we have, obviously, the decision being made by congress and the administration and the two different parties, and we're just caught up in the political gridlock trying to deal with this very difficult problem. you kn

finally, paul volcker, chairman of the federal reserve and his colleagues decided to wreck the economy over the head really hard and take inflation on this one. finally it did, although it took a while. wasn't until the fall in oil prices and 86, but we got rid of the inflation demon and in some ways laid the groundwork for that. following that in the 1990s the restaurant part of the growth, strong markets starting in the mid-1980s. so the analogy in my mind as had this deficit now hanging over us and for some of the same reasons, it's a really hard problem to solve. it? a federal reserve come as we don't the equivalent of an actor like paul volcker who can come in if they were going to tackle this problem. this is unpopular, but were going to do it. instead we have obviously the decision be made by congress in the administration and the two different parties that were in the political gridlock trying to do at this difficult problem. even if we had sort of unity of purpose, it would be a hard problem to solve. we are still in the process of recovering from a deep recession that was bro

and then finally, paul volcker who was chairman of the federal reserve and his colleagues decided to whack the economy over the head really hard and take the inflation out of the system. and finally it did, although it took a while. really wasn't until the fall in oil prices in '86. but we really got rid of the inflation demon. and i think in some ways laid the groundwork for the period following that in the 1990s when we had strong productivity growth, we had strong markets really starting in the mid 1980s. so the analogy in my mind is we have this deficit that's now hanging over us, and for some of the same reasons it's a really hard problem to solve. um, it lacks a federal reserve. so we don't have the equivalent of an actor like paul volcker who can come in and say, okay, we're going to tackle this problem. and this is unpopular, but we're going to do it. instead we have, obviously, the decision being made by congress and the administration and the two different parties, and we're just caught up in the political gridlock trying to deal with this very difficult problem. you know,

. >> you ask the question where is paul volcker? in on bretton woods we delinked the gold from the dollar standard in the '70s which say some it ignited inflation. jerry nadler, representative from new york is for it. "huffington post". melissa: somebody started it. >> started in july 2011. melissa: about a month 1/2 ago. it has been making the round. >> so you started it. melissa: we started it. >> your face should go on the coin. lori: gold standard i think holds everybody accountable, but to your point it goes in the opposite direction. melissa: okay. emac, thanks so much. >> delighted. melissa: she is not rolling in the deep anymore. she is rolling in the green. for the second year in a row, british beauty adele has the best-selling album. her albums sold $4.4 million copies. in 2011 she sold 5.8 according to nielson. she joins michael jackson in the exclusive of clubs of those with number one albums in back-to-back years. taylor swift led the way in the country genre with the red album that sold 3 million copies followed by car

that was an advisory group led by paul volcker comprised of labour leaders who provided outside advice to the president and his economic team at the very height of the financial crisis. when the 2-year charter expired, the administration created the president's council on jobs and competitiveness. also an outside advisory board his mission was to bring new ideas to the table from the private sector and how best to support growth and job creation. like before it the jobs council was always intended to have a two-year charter. as you noted, expires today. the work of the jobs council was valuable. while the president did not agree with all the recommendations, he did agree with many of them enacted on a number of them. the job's done so, for example, recommended a new initiative to focus on retrofitting government buildings for energy efficiency. this administration acted of the city to create new construction jobs to the better buildings challenge. the jobs council also recommended new ideas to support our entrepreneurship and small business, investment like create one-stop shop for bus

that speeching paul volcker. don't get me wrong.as illustrated by notable hedging failures last year, bank trading and hedging practices can be a whale of a problem. it's not a problem the volcker rule the dodd-frank act as whole proports to address. like. of the act it's a solution in search of problem. the act, however, is still the law of the land. and banks with long since accepted the rule and implications for their business activities. in fact, i've been told by several firms that although the implementing rules have yet to be finalized they have taken significant steps to sheet down the u.s. trading activities and in some cases have already done so completely. high level staff from five regulatory agencies continue to work behind closed doors to refine a rulemaking proposal that according to a letter sent to the agencies by bipartisan group of six senators, quote, has drafted but effect main street business by reducing market liquidity and increasing the cost of capital. in another comment letter, senators murkily and levin h

durbin, democrat, judd gregg, a republican, alice rivlin, alan greenspan, former federal chairman, paul volcker, a former federal chairman, michael bloomberg, mayor of new york, david walker, former head of the gao, warren buffett -- host: tell us what you are concerned about that? caller: because that is the white elephants. this is the challenge i have for you, congressman, and for c- span. every financial person that comes on, ask them a simple question -- where would our country be today had we adopted the simpson-bowles report? we would not be in the mess we are in. the people that are on the hill that are passing all these bills would be in check. guest: for me it is simple. i would vote for simpson-bowles to better the country would be in a better position if we had adopted simpson-bowles. that is the direct answer to your question. i think mr. simpson-bowles and alan simpson are american heroes. and given a very important job. the president to sign them with a task of looking at the challenges we face as a country fiscally. he instructed them -- and this show great vision by the preside

that speaker, paul volcker. don't get me wrong. as illustrated by notable hedging failures last year, bank trading and hedging practices can be a whale of a problem. it's not a problem the volcker rule or the dodd-frank act as a whole purports to address. like much of the act, the volcker rule is a solution in search of a problem. the act, however, is still the law of the land and banks have long since accepted the rowl and its implications for their business activities. in fact, i've been told by several firms that although the implementing rules have yet to be finalized they've taken significant steps to shut down their u.s. trading activities and in some cases have done so completely. even if they look to statutory texts and spird of the -- spirit of the rules to bringer that hedging and trading practices into plines, high level staff from five regulatory agencies continue to work behind closed doors to refine a rule making proposal that according to a letter sent to the agencies by a bipartisan group of six senators, quote, has

that speaker, paul volcker. don't get me wrong, as illustrated by notable hedging failures last year, bank trading and hedging practices can, indeed, be a whale of a problem. it's not a problem the volcker rule or the dodd-frank act as a whole purports to address. like much of the act, the volcker rule is a solution in search of a problem. the act, however, is still the law of the land, and banks have long since accepted the rule and its implications for their business activities. in fact, i've been told by several firms that although the implementing rules have yet to be finalized, they've taken significant steps to shut down their u.s. prop trading activities and in some cases have already done so completely. even as firms have looked to the statutory text and spirit of the rule and proactively taken action to bring their hedging and trading practices into compliance, however, high-level staff from five regulatory agencies continue to work behind closed doors to refine a rulemaking proposal that, according to a

that speaker was paul volcker.on't get me wrong, as noted last year, trading practices can be a whale of a problem. volcker rule or the dodd-frank act supports to address. what much of the rule, it is a source of the problem. the fact is still the law of the land. and banks have long since accepted rules and its implications for business activities. i have been told by several firms that although these rules have yet to be finalized, they have taken significant steps to shut down the trading activities and in some cases have argued him so completely. as firms have looked to the text and bringing hedging into compliance, high-level staff continue to work behind closed doors to refine a rulemaking proposal that included a bipartisan group of six senators. as drafted, could adversely affect main street businesses by reducing market liquidity and increasing the cost of capital. in another comment letter, senator mercury and senator levin both wrote that the volcker rule demands wall street change its culture. implement