>> rose: hank paulson for the hour, next. if you've had a coke in the last 20 years, ( screams ) you've had a hand in giving college scholarships... and support to thousands of our nation's... most promising students. ♪ ( coca-cola 5-note mnemonic ) captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: henry paulson is here, he was u.s. treasury secretary from 2006 to 2009. it was an extraordinary period in american history. the outbreak of the global financial crisis consumed his tenure, resulting in the worst recession since the great depression. as a series of major financial institutions collapsed around him, he oversaw the recovery, including the tarp program. while some credit the program for preventing a depression, others say it looked like it was subverting american capitalism. last week, he testified before congress that the program was essential to preventing disaster. >> today after all the actions that have been taken by the u.s. government, we still have th

paulson. mr. paulson please stand as i administer the oath. do you solemnly swear to tell the truth, and nothing but the truth if so answer in the affirmative. all right. you may be seated. let the record reflect that he answered in the affirmative. i'll ask the witness to summarize his testimony in five minutes and, of course, reknow the procedure. the yellow light means you have 1:00 and the red light means stop. then we will have times to raise questions. you know the procedure. you've been through this quite a few times. >> mr. chairman, thank you. i will go through this quickly. first of all, chairman towns, ranking member, and distinguished members of the committee, i appreciate the invitation to testify before this committee. i was secretary of the treasury in 2008. in that role, i had the privilege to work with many talented men and women in the government who will labor to pull our nation back from the brink of disaster. the decision to rescue aig was correct. and i strongly supported

were done while hank paulson was the boffs goldman sachs. what was not revealed at the time was that goldman was the major contributor to a.i.g.'s distress. most of the deals that were problematic to a.i.g. were either underwritten by goldman sachs or were goldman sachs' trading division. and none of that was revealed at the time despite the fact that key officers from goldman sachs who were involved in many steps of the bailout process. >> though goldman sacks says it had already insured itself against losing the $30 billion, the rescue of a.i.g. was critical to its future. >> had a.i.g. gone into bankruptcy, had the fed and treasury not stepped in, i think the effects for goldman sachs and for other american participants in that framework and in those circumstanc would have been very, very adverse. >> could have been fatal for goldman sachs? >> i wouldn't say fatal. no, sir. >> u.s. banks spend about half a billion dollars a year lobbying u.s. politicians, but goldman is perceived as having the biggest political clout. not only did paulson

let me bring in jim paulson. jim, on the other hand, stocks are stabilizing here. earnings continue to be good. 80% of reporting companies. i'm pushing for a moderate v-shaped recovery. i'll put charts up in a few minutes. but a v-shaped recovery, solid earnings. does that mean new highs on the stock market or not? >> well, you know, i think, larry, i would position what we are doing like this. for much of the last year there's been a tremendous volatility and uncertainty created in washington on an ongoing basis and the same thing bailing us out throughout this period of time has been bailing us out in the last week. that is economic momentum, earnings momentum keeps coming out much better than anticipated and despite all the volatility and uncertainty created by government, it's wagging the overall dog. i think it's hard no matter how much your fears are aggravated by what obama's doing in washington, what it may mean down the road, it's hard to stay out of the stock market when you have 5.7% gdp growth, an ism number that's good. when you have the employment com

[applause] >> thank you a lot. >> henry paulson serve as u.s. treasury secretary from 2006 to 2009, and as the ceo of the investment firm goldman sachs from 1999 to 2006. this event was part of the greater omaha chamber of commerce's 2010 annual meeting. to find out more visit omaha chamber.org. speaking with robert in more the third about his book they always said i was very a wide go, coming to grips with rates in america. i will start off with, who said that you would always make a white coat, and why did they say that? >> i think that was more of an internal feeling on my part. i grew up in a very passing time period during the 1960s. i was one of the few african-american fans, perhaps the only african-american family to ride the wave of millions of of why to left urban america at the time to go to the suburbs. at the same time many african-american for coming off the land of rural america and going to the cities. so i thought very unique, i felt caught in between. i think two groups almost like two sides and it was a time period that was pr

and the book secretary paulson discusses the actions you take to the 2008 economic collapse haired this event was part of the greater omaha chamber of commerce is 2010 annual meeting. [applause] >> first of all, i want to thank you for coming. you have honored us. i should declare right of the bat that i'm a friend of hanks. i have been so for some years. i admired him before he took the job and i admire him a lot more after the jump you start by secretary of the treasury. the name of this book is "on the brink." and that's exactly where we were in september and october of 2008. and at that time, our economy, our financial world went into cardiac arrest. and we had four people in the operating room that we were very fortunate that the country to have in place. we had hank, we had been burning the, we have tim geiger and shoot a bear head of the fdic. i know a lot of people in finance and a lot of people in business. i know people in government. and i can't think of for that would have done a better job of getting us through that. not kind of fashionable to look back and look at one litt

if we do another 300 points or 400 points, people are going to be like -- >> we're talking to jim paulson later today. his point is wouldn't it be poetic is after all these sovereign debt concerns that was the moment we really started adding jobs and all these people who got out missed what may be a rise in the market because of impending job growth? >> the question, really, is this the end of the last financial crisis or could this result in a new one that's ahead of it, a buy-in, the mayan end of the world crisis. >> in front of the end of the world. >> you are short. good. thank you. who is going to cover? oil prices this morning, as you would expect, are -- that's a risk trade, as well. it's only down 26 cents, but it's at $72 now. several traders say the drop was in part linked to a hedge fund that was quickly unloading a big oil position. although as we know, there are no speculators in oil. prices are still about 50% lower than the record aboveed 147 in july. if we talk about oil, we should talk about treasuries and gold. >> treasuries, the two-year is yielding maybe 80 basis point

paulson, mr.stearns shareholders from a position that i think was a high of $170 a share in january. we force them down to $2 a share because the american taxpayer money was in the bailout. and that was something that was supported by the fed, by treasury because we felt that because the taxpayer was bailing them out, that the shareholders of bear stearns should not be held harmless. now, you have a different situation here, slightly different. a number of weeks later, where we have aig going under, and these are credit default swaps so the money going into aig is going right out to the counterparties. this is a pass through and the folks on the other side are goldman sachs. that is the principle beneficiary of all this. and we don't negotiate in nickel, not a sense of what they are getting. you are in the same position. you are supposed to be negotiating on behalf of the american people. you were saying the regulations were different. let me tell you something we were changing the rules and regul

coming up next is henry paulson in conversation with warren buffett, just this past week on his new book on the brink and after that is an after words we taped with joseph, national editor, kevin mer of the, but now here is henry paulson and warren buffett. >>> first full i want to thank you for coming and i should to clear off the bad that i am a friend of hank's and have been so for some years. i admire him before he took the job. i add my durham a lot more after the job he's done as the secretary of treasury. the name of the book is on the brink and that is exactly where we were in september and october 2008. at that time, our economy, our financial world went into cardiac arrest and we had four people in the operating room we were fortunate as a country to have in place. we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or anot

. >> tom: speaking of debt, former treasury secretary henry paulson says the u.s. government will get back every penny given to u.s. banks during the economic meltdown. he predicts uncle sam could even make a profit. billionaire investor warren buffett agrees. the two men appeared together today at the omaha chamber of commerce annual meeting. >> suzanne: president obama is optimistic about completing one of his short-term goals: passing a bill designed to accelerate job creation. but the 362-page measure is still in draft form, and it includes only a few new provisions for creating jobs. namely, a $10 billion plan that exempts companies from paying the employer's share of social security payroll taxes for new workers hired this year. today, the president acknowledged that the legislation may not be ideal, but he says, it could be a good first step. >> we're seeing an increase in temporary workers, but they haven't yet taken on that full- time worker. and so providing some additional impetus to them, right as the economy is moving in a positive direction, i think c

is asking paulson and company for information about complex securities at the heart of the financial crisis. the hedge fund firm profited by the subprime crisis by shorting ceos. the s.e.c. subpoenaed several firms. paulson isn't the target, necessarily, of the probe which is examining whether or not banks shorted cdos at the same time that they were selling them to investors. >>> and newscorp swung to a big profit in its second quarter. media companies have benefited in recent months ago marketers resume spending on tv commercials which particularly helped local stations. newscorp owns 27 fox affiliates. x-men ice age films lifted the company's studios. newscorp will see a bulk of avatar's box office impacts, though, in this quarter. news corporate is trading up about 6% or 7%. ross, i'm probably the only person on the planet who hasn't seen avatar yet. >> i haven't. we can see it together. >> two people! okay. there you go. >> you sit in your house and i'll sit in london and we'll text each other, right? that's how we'll do it. exactly. >> pmi in the euro zone came in at a slower p

coming up next is henry paulson and conversation with warren buffett on his new book on the brink then after that is the afterwards that we taped new joseph's being interviewed on the book a dark-- bright nights but first here is henry paulson and warren buffett. >> first of all, i want to thank you for coming. i should declare write-off backed i am a friend of thanks and have been so for some years. i did meyer him before he took the job and i admire him all lot more after the job he has done as secretary of treasury. the name of the book is called on the brink and that is where we were september october 2008 but at that time, our e economy, our financial world went into cardiac arrest. we had four people in the operating room we were very fortunate as a country to have in place, hank, ben bernanke kumbaya tim geithner and sheila bair the head of the fdic. i know a lot of people and finance and business and government. i cannot think of for that would have done a better job. but to look back of our country's financial system throes of during that period. some of you were in a party i

authors include henry paulson talking with warren buffet on the 2008 collapse.istorian gary wills how the atomic bomb changed the presidency. it airs on sunday night at 9:00. books on american presidents, f.d.r., president obama and our culture, ronald reagan. for complete schedule go to booktv.org. >> it's the only collection of presidential portraits painted by one artist. now on display at purdue university in indiana through february 21. the exhibit looks at the lives of the 43 men who held the office through photographs, prints and audio recordings. sponsored by c-span and the white house historical association. and if you can't get to indiana, see the entire collection online at c-span's website americanpresidents.org. >> tim kaine spoke last weekend at his parties' annual meeting here in washington. he talked about president obama's initiatives about health care, the economy, the election of scott brown to the u.s. senate and what his party must do to win this fall's mid-term elections. he speaks for about a half hour. >> look, as the president alluded, w

we will have henry paulson talking to warren buffett on the economic collapse.s on how the atomicçó bomb change the presidency and the role of the u.s. in the world. all day monday, books on american president's persts. for the complete schedule, go to book tv.org. >> your calls and headlines are coming up as we discussed congressional efforts on jobs and health care.

. >>> and billionaire hedge fund manager john paulson is betting to land in colorado, arizona. >>> checkwith the realty checkup next monday morning at 11:50. until then go to the blog, realtycheck.cnbc.com. >> thank you, diana. >>> and after two weeks, who are the marketing winners and losers from the olympics? cnbc's darren rovell still in vancouver to tell us why. >> reporter: erin, yeah, many of those hyped athletes came through, which is good because the marketing window is so small for them. let's start with the winners. shaun white the snowboard king. $8 million a year. he pulls in. and obviously defends his gold in the halfpipe. that should continue on the marketing front for shaun white. how about kim yu-na the skater from south korea who the country's most glorified star continued her dominance by winning gold by a wide margin in women's figure skating. apollo anton ohno comes in as a winner. although he's likely to hang up his skates after this one we expect a lot his deals with the likes of coca-cola and nestle to stay intact. now let's talk some losers. she's still among the

. >> henry paulson served as u.s. treasury secretary for 2006 to fill some nine and as the ceo of the investment firm goldman sachs from 1999 to 2006. this event was part of the greater omaha chamber of commerce 2010 annual meeting. to find out more, this it omahachamber.org. >>> we are at west virginia university in morgantown west virginia with john temple, author of the last warrior the fight to save death row inmates. ken rose and said boe jones. >> to man about the same age and they both live in north carolina. boe jones was a farm hand from the plan county north carolina who was convicted of murder and 1993 for a murder that occurred in 1987 and he was sentenced to death and spent i believe 13 years on death row. ken rose is the lawyer, who in 1997 took on his case shortly before boe was scheduled to be executed and he has represented boe ever since and i spent four and a half years following that case. >> what got you interested in this case? have you always been interested in the law? >> my wife is a lawyer bu

hank paulson's book in when which i am read anything is interesting they all start in september 2008 and part of this is the drama of the collapse and what was done to stabilize this system? we're much more interested in the years and months leading up to september 2008 and what were the regulators, the policymakers, and people on wall street doing so that we got to the point that the only choice was we either invested a trillion dollars plus to stabilize the market or we there a collapse? that's a great idea. >> that's the book there's not written. >> yeah, that's a great point. what about this, here we are every day talking about fin reg, financial regulation and that the industry is going to change going forward. do you feel that it would be more prudent for the congress and president to wait until after your findings are due on december 15th before putting financial regulation forward? >> look -- >> some people in congress feel this is the only legislation congress is going to be able on get out this year. >> look, the congress and the president were elected. i don't think they o

on "meet the press," david gregory has an exclusive interview with former treasury secretary hank paulson, out with his new book "on the prink" along with another well-known but some would say obscure economist and former head of the fed. >>> plus an exclusive with president obama's counterterrorism chief, john brennan. all that on sunday's "meet the press." check your local listings. >>> coming up, the most important player in president obama's war cabinet. overseeing two wars and now taking on don't ask, don't tell. up next, "time" magazine's elizabeth rubin with her in-depth cover story, profile of defense secretary robert gates. >>> follow us online at andrea.msnbc.com and on twitter. host: could switching to geico really save you 15% or more on car insurance? host: does charlie daniels play a mean fiddle? ♪ fiddle music charlie:hat's how you do it son. vo: geico. 15 minutes could save you 15% or more on car insurance. just, out of the blue at 43. now i'm on an aspirin regimen because it helps me live the life i want to live. [ male announcer ] be sure to talk to your doctor before yo

by then treasury secretary hank paulson and ben bernanke. t.a.r.p.upposed to be used to counter the mortgage crisis, not to bail out the big banks. do you believe mccain was misled? >> no, i don't, monica. the night before on nbc nightly news, you may remember john yang had a record that feerchbd john mccain saying because of his experience, he was best equipped to rhett republic arizona. now, in western inventory knack ewe lar, this ain't john's first rodeo. when he suspended his campaign to go back to washington to sit face-to-face with those decisionmakers, now a couple years later, he's telling us he was misled? i have to tell you, this is isn't revision of history. that sounds more like john kerry in 2004 than the john mccain i used to work with. >> and the mccain camp is attacking your spending record. they have a radio ad saying you talk like a conservative, but you spend like a liberal. they're citing your vote for the bridge to nowhere. you supported the 2003 medicare prescription drug benefit. what do you think of those ads? what do you thi

authors include henry paulson talking to warren buffett.er and a store and on health the atomic bomb changed the presidency and the one role of the u.s. and in the world. it will be reoffered sunday night and all day monday. books on american presidents. for the complete schedule go to booktv.org. "washington journal" is next. we'll take your calls. coming up, an update on the senate's job bills with ian swanson.

tell you that as a new member, i sat as many of my colleagues did when we got a call from secretary paulson was-- and we had to react in two days. so sometimes depending upon the issue of the reaction has to be different. babbitt you or do you not agree with the testimony of mr. scovell which are not just limited to rulemaking and now i have a minute and 47 seconds. >> in 15 seconds i get an a-plus on milestones for professionalism. training i get an incomplete and i get a b on fatigue. >> do you agree with his assessment? >> i agree with some of his assessments. >> look forward to your immediate reaction to them and i would say, i would rather see you come to us and be creative in think out of the box and maybe have to figure out how we can do things differently because i think the confidence of the american public is reducing every day that we delay, and i think there is room for us to think creatively and do it different and i look forward to helping you. >> thank you very much. i appreciate that. >> i thank the gentlelady and >> i thank the gentlelady and th from ohio, mr. bush shahri.

come that they are going to come back into a government position and i know ben bernanke and hank paulson are well-known for this. could you talk a little bit about that in any ideas on how that could be stopped through laws or voter action or anything? >> i'm glad you reminded me about the revolving door. i see this happening. i see my friends do this. they dress like me when they are working on capitol hill and i see them two years later and they have really nice suits with a french cuff and offer to buy lunch. the left the capitol to up working for congress and a lobbying firm hired them because they knew that when the friend then calls his old underling on capitol hill to say hey i just want to talk to you about the farm bill, that his old boss or his old bosses colleagues are going to take the call and that is the revolving door. barack obama's said literally, i'm going to stop the revolving door. is white house chief of staff, rahm emanuel-- there is not, as the word for rahm emanuel because welby was working on the campaign is a chief fund-raiser he was getting paid by goldman sach

. >> tune in c-span 2, book tv, beginning saturday, authors include henry paulson, talking with warren life portraits on display, through february 21, the exhibit looks at the lives of the presidents. sponsored by c-span and the white house presidential historical association. and if you can't get to the site, visit this online. >> "washington journal" continues. host: at the table, daniel kaniewski working for president bush from 2005-2008 and on the table is homeland security report, what does it look at? guest: first it's an important document, i applaud this administration and that it meets the congress attempt. i feel it provides a road map for the future for the department of homeland security. in reality homeland security is broader. and i feel this document will lay the future. host: what are the topics in this report? guest: there are no surprises, this is not controversial. preventing terrorists attacks is the number one priority. no surprise. but other items resiliency before disaster. i arrived here before hurricane katrina and i am happy to see that this is one of five maj

authors include former treasury secretary henry paulson talking about warren buffett. afterwards is hiss torial gary wills on how the atomic bomb changed the presidency and the u.s. and the world. it reairs sunday at 9:00 eastern and pacific. and all day monday, books on american presidents. h.w. brands on f.d.r. jabari on president obama. for the complete schedule go to booktv.org. >> last week the obama administration sent the first homeland security report to the u.s. congress. here is about the administration's next efforts to redefine its homeland security mission. daniel kaniewski working for president bush from 2005-2008 and on the table is homeland security report, what does it look at? guest: first it's an important document, i applaud this administration and that it meets the congress attempt. i feel it provides a road map for the future for the department of homeland security. in reality homeland security is broader. and i feel this document will lay the future. host: what are the topics in this report? guest: there are no surprises, this is not controversia

i don't think the corporations had to buy anybody, because people like robert rubin and hank paulsonere already well into the pocket. that is not corruption that is going to be fixed by saying we need public elections. we need a mix, a voluntary mix of public and private elections. that... that's not what fixes it. >> moyers: is corporate advertising free speech, in your judgment? >> well, i think that we should have a system where we can treat the widest range of speech as free speech. i want a world where we can have the broadest range of speech, including corporate speech. including speech i don't agree with. the problem that i see is that when that speech gets read by the ordinary american people as just another way in which congress is focusing on the funders rather than focusing on the people, it erodes the trust in this government. because the point in my view is not whether people's souls have been bought. i don't care if a particular congressman's soul has been corrupted by money. the fact is, the institution has been corrupted, because the vast majority... in california, 90

a big conversation about the future of the economy, allan greenspan and henry paulson, talking not justsis, but about where jobs are, where it's going, health care, and the debt. >> and obviously, terrorism is taking front and center stage in washington, d.c. of course, a lot of people still rumbling about scott brown's exit poll showing terrorism the top topic. and a real buzz about a possible attack on the united states this summer. what are you going to try to get from john brennan? >> what's leading to those conclusions, had you all of the intelligence chiefs, as well as the head of the fbi, talking about it was a certainty that al qaeda would attempt a larger scale attack on the united states over the next several months, so the obvious question is what is precipitating that? what kind of intelligence do they have? what are they learning about al qaeda in yemen? we have the recent tape by osama bin laden, which raises questions about to what extent he is in command and control function of al qaeda. there are a lot of major security concerns now that are occupying the administration

authors include former treasury secretary henry paulson talking with warren buffett on the 2008 economic. on "afterwords", historian and pulitzer prize winner garry wills on how the atomic bomb changed the presidency and the role of the u.s. in the world. "afterwords" reairs sunday night at 9:00 p.m. eastern and pacific. and all day monday, books on american presidents. h.w. brands on f.d.r., jabari asim on president obama and our culture, and craig shirley on ronald reagan. for the complete schedule, go to booktv.org. >> now the discussion on seventh liberty -- on sick literacy with richard brake. from "washington journal," this is about 30 minutes. but many folks are, and we can learn something today. guest: thank you for having his back. host: you put out a new report on civic literacy. what is the update on what people mill about six? guest: unfortunately, they're not doing well. we have made an assessment as to how well current college students know about their government and foreign affairs and economics. they're not doing very well. they don't know we have three branches of govern

yesterday secretary geiger and former treasury secretary paulson boasts a pity it was necessary to bail out aig at that moment in 2008 in order to avert a great depression and 25% unemployment respectively. my question is, first question is do you believe that yourself? my second question is assuming for the sake of argument that it's true, would not a great depression be one of the signaled results of putting our house in order? and if that's true, would you say that it's better to do it now than to do it in 25 years? >> well first i don't know what their basis of great depression and 25% unemployment was. i'd love to see, you know, they're modeling to be able to do that. i know that it's out of the left side of the keister. [laughter] that's another sophisticated southern term. [laughter] but the fact of the matter is you can't prove a negative. all rights. and where there good reasons to do it? i'm sure there were. i wasn't there. you know, the question is what are we doing to try to make sure it doesn't happen again and when we didn't did we do it the right way? and i think we have

çauthors include henry paulson talking with warren buffett on the 2008 economic collapse. 10:00 and all day on monday. books on american presidents. president obama and our culture. for the complete sculpture, go to booktv.org. updated and released just in time for presidents' day. "who's buried in grant's tomb: a tour of presidential gravesites ." it is a comprehensive guide to the resting places of the president's. richard smith on the concept behind the book. >> it is a wonderful way to humanize and personalize the past, to take events and movements that otherwise might seem impossibly remote. there's something universal about the fact we will all be on our deathbed. we all face growing old. i]we'll have to wrestle with questions of immortality and mortality. those are some of the themes that run through all of this. but it's also frankly and entertaining book. there are lots of stories and anecdotes designed to shoot denies all of these people. >> available now at your favorite book seller or ordered directly from the publisher. >> utah governor gary herbert, from soli

bush and henry paulson. those have to be paid for.the stimulus that's being ridiculed is the overwhelm that a conservative and liberal economist have acknowledged, have diminished the decline in the economy. good intentions are not a substitute for fiscal responsibility. we are acknowledging that. we have different goals. we have to fight those out. but why not? despite whether your goal is the tax cut or spnding program, wouldn't you agree to pay for it? that's what this legislation is about. i yield back. the speaker pro tempore: the gentleman from florida reserves. the gentleman from michigan is recognized. mr. camp: at this time i yield one minute to the distinguished gentleman from new jersey. the speaker pro tempore: the gentleman is recognized. >> thank you very much. madam speaker, i rise today in strong opposition to this bill. $2 trillion increase of our debt limit to more than $14 trillion. over the past three years and in the last three years, the democratic party that has controlled both houses of congress, we have seen t

now, but he made one run at it, we voted it down, he made another run at it and it passed and henry paulsonican people got really nervous about what was happening in washington, d.c. and along through that path of things that happened, we saw the nationalization of huge private sector entities. we saw the nationalization of bear stearns, fannie mae, freddie mac, ai gillespie, the insurance --aig, bank of america and now the american people are starting to think what have we wrought? the people we put in charge are making decisions to punish the private sector and nationalize that growth engines that have been created by free market capitalism. but they trusted that their elected leaders knew more about wall street than they did. and now we find out that we know more about wall street than the people on wall street know about wall street e. [applause] >> unless it was their business model to game the taxpayers, in which case i had give the nod to the wall street brokers, but we saw the nationalization of eight huge private sector entities. but i've only named six. right of a that game genera

also the treasury secretary henry paulson and former fed chairman alan greenspan. wallace will include sarah palin and national tea party convention spokesman michael skoda. the site of super bowl xliv will be interviewed nfl commissioner roger go desm ll. also "state of the union" guests will include secretaryÑi of sta hillary clinton. you can listen to all five of the sunday morning talk shows starting at noon eastern c-span radio. that's 90.1 f.m. here in snowy washington, d.c. on the web at c-spanradio.org. follow us on facebook and at which timer. -- and twitter. >>xd "imdepth" welcomes paul johnson. "heroes." his latest on winston churchill. today at noon5açó eastern onÑi tv's "in-depth" on c-span2. >> i try to be entertaining, informtive, and relevant.çó >> tom hartman our guest tonight at 8:00 on c-span's "q & a." >> this week on "theÑi communicators." monday night on c-span2. "washington journal" continues. host: and open phones for the remainder of today's "washington journal". we'll put the phone lines up on the screen for you. why we wait joining us on

authors include henry paulson. historian garr wills on how the atomic bomb changed the presidency.r words" reairs on sunday night. on monday, books on american presidents, f.d.r., president obama and our culture, craig shirley on ronald reagan. for the complete schedule go to booktv organize. >> the only collection of presidential portraits painted by one art activities by chaz-fage and now on display in indiana through february 21. the exhibit looks at the men through paintings, photographs, in

coming up next is henry paulson in conversation with warren buffett, just this past week on his new book on the brink and after that is an after words we taped with pneil joseph, national editor, kevin mer of the, but now here is henry paulson and warren buffett. >>> first full i want to thank you for coming and i should to clear off the bad that i am a friend of hank's and have been so for some years. i admire him before he took the job. i add my durham a lot more after the job he's done as the secretary of treasury. the name of the book is on the brink and that is exactly where we were in september and october 2008. at that time, our economy, our financial world went into cardiac arrest and we had four people in the operating room we were fortunate as a country to have in place. we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect o

authors including henry paulson talking with warren buffett on the economic collapse.n "afterwords," talking about how the atomic bomb changed the presidency and the ror%÷ of the u.s. in theÑi world. it reairs sunday night. all daymond, books on american presidents. craig shirley on ronald reagan. for the complete schedule go to booktv.org. the consumer product safety commission recalled a half million drop-side cribs, following the deaths of three infants trapped between the mattress and the panel. they looked at the need for additional mandatory safety rules. they talked to several people including the parent of a child who died in a crib accident. >> our hearing is titled assessing the need for better oversight on crib safety. members will be recognized for opening statements, i'll begin. today we are hear -- today we are here to answer a painful and difficult question. are we doing enough to protect infants and toddler in their crib. most experts say the best place forÑi a baby to sleep is in a crib. babies sleeping on their back on a firm mattress in a crib is les

paulson is sitting there telling me what his responsibilities were with the tarp.ld him two or three time $. host: we'll get a response. caller: no financial aptitude requirement a famous interview that the then chairman of city group gave two years ago that he divulged what a credit default swap was. >> the wiz kids were really in charge of the lab at this point. so much of this is catching up. >> used to write for the new york times. now with business week. good morning. host: the guys that bought cars in japan and people who are buying products in china poisoning our future warriors with children's toys. if we made it impossible for people here illegally to have jurisdiction or standing to prosecute crimes against americans. they could take matters into their own hands and run illegal aliens out of this country. guest: look at your toyota and look at where this car is built. the ford fusion hybrid. part assembled in mexico and canada. if you want to buy all manner of text tiles, you'll have to boy cot wal-mart if you think we are wrong to deal with these countri

. >> chris what do you say to the jpmorgans of the world, when brought into that room, with hank paulson a favor, because we all know now that that -- you're going to take this money, you're going to like taking this money was to bail out another firm that will go unnamed because they didn't want the firm to stand out. now you punish all of the people for doing the government a favorer? >> i'm not sure they did the government a favor. i'm not sure -- we done live in a system where they were forced to do this. >> they were forced. we know they were forced. >> that's a bit of a stretch. >> no, it's not. >> putting that aside, let's not get into the weeds about that these are institutions we know made terrible mistakes to contributed to the financial crisis that almost brought the system down. >> did jpmorgan do that? >> i don't know if jpmorgan did it or not. >> that's the point. >> this is about vengeance. if that is the way to think about it we're trying to make policy based on vengeance. we need to make it based on what is the best policy for the u.s. economy. >> it's not vengeance. >>

. >> paulson said her car crashed through a wall, demolishing a bathroom. >>> self-help expert jamesurt on manslaughter charges. he was arrested yesterday in arizona. last year three people died during one of his sweat lodge ceremonies. ray's lawyer, brad brian, calls the charges unjust. brian is larry king's special guest tonight at 9:00 p.m. eastern right here on cnn. make sure you tune in. >>> you know, they were born right here in the usa, but they belong to china and that's where two giant pandas are going now that they're old enough. 3-year-old mei len and her 4-year-old cousin, tai shan from washington's national zoo are at dulles airport right now. these are live pictures. they're waiting to be flown there -- those aren't live pictures, we saw them live just moments ago getting to that plane with their little pictures right on the side. best of luck to them. >>> let's turn to the michael jackson story. a lawyer for a doctor, dr. conrad murray, says his client will surrender tomorrow to face charges in the death of singer michael jackson. murray admits he gave jackson an anest

henry paulson talking with warren buffett of the 2008 economic collapse. on "after words" gary wills on how the atomic bomb changed the presidency and the role of the u.s. and the world. it read errors sunday night at 9:00 p.m. eastern and pacific. hw brand and fdr, president obama and a culture -- for the complete schedule go to book tv.org. >> his film, "hillary: the movie" was the focus of a recent supreme court decision. documentary producer and head of citizens united sunday night on "q&a." >> the only collection of american presidential portraits painted by one artist -- renowned painter chaaz fagan on display at the university in indiana. paintings, photographs, prints, and audio recordings, sponsored by c-span and the white house historical association. if he can't get to west lafayette, see the entire collection on-line. >> "washington journal" continues. host: joining us from stereos -- -- syracuse, new york, now washington, d.c., representative maffei. if you could tell us a little bit about your district economically? guest: my district has bee

authors include henry paulson talking with warren buffett on the 2008 economic collapse. w3gary willsan hollen. it was touch and go whether he could be here are not. maryland was plowed. we are here together and i want to thank him for his partnership and his very hard work and in valuable contributions to this legislation. as you know, last month, the supreme court shattered nearly 100 years of u.s. law designed to curb the influence of corporations in our election process. today, we are beginning to pick up the pieces. truth beç told,t( we have been bracing for an unfavorable decision ever since the court decided to rehear the citizens united case earlier this fall. then8 court rulings surpassed or worst fears. with the stroke of the pen, the court decided to overrule a decade-w3long banç on expendits and silenced the voice of millions ofi] americans. at a time when americans areç o worried about special interest ñrhaving too much influence in washington, the court çinexplicably open the floodgas to much greater special interest influence that we have ever seen before. the decis

hank paulson has been out there. here's a headline.er the autoa toe makers will be able to pay what they owe. the stock transactions took place when the u.s. government essentially took over general motors. most analysis seem to think with the banks the u.s. is not only getting paid back but it is going to come out ahead because of dividends and such. >> so if it is all paid back or ahead. do you think it'll change the mood about so-called bailouts? does it increase confidence do you any >> -- think? >> guest: it could. the bailout of the banks on some levels has worked and that you are not seeing -- you're not seeing the big banks spiral downward like you were in the fall of 2008. but as we spoke about earlier, we haven't seen, you know, credit. we haven't seen -- we haven't gotten easier for small businesses to get credit. that's what people on main street really wanted. they were sold the idea that was going to happen through the t.a.r.p.. the economy continues to still be horrible. but workers are losing their jobs, small businesse

. $700 billion deficit under paulson and bush under this recession. this is crazy.me in its history, the fcc has an in- house dollar and residents to offer a philosophical perspectives to policy issues. stored benjamin on first amendment issues and the use of the digital spectrum to provide for broadband expansion, on "of the communicators" on c-span2. in depth welcomes british historian and former adviser to margaret thatcher, paul johnson, author of over 40 books, his latest on winston churchill. join our three-hour conversation with phone calls for "paul -- paul johnson, live from london, sunday at noon eastern on c- span2. watch c-span's "washington journal" for conversation, common, and your calls on public affairs, live daily from 7:00 until 10:00 a.m. eastern. c-span, covering washington like no other. the administration releases its $3.80 trillion budget for fiscal year 2011 today and we will have briefings to about the day. the president is expected to speak to the -- about the budget this warning and we will hear from budget director peter orszag at 11:00

henry paulson talks to warren buffett on the economic collapse.n how the atomic bomb changed the presidency and will the u.s. in the world. it read prayers -- every airs on sunday night. -- it rears on sunday night. . re-airs on sunday night. >> and now, admiral thad allen discusses the activities of the coast guard in haiti relief efforts and he discusses the fiscal year 2011 budget request. from the national press club, this last about an hour. -- this lasts about an hour. >> good afternoon, everyone. we are the world's leading professional organization for journalists and are committed to our profession's future by providing informative programming and fostering a free press worldwide. for more information about the press club, visit our website. on behalf of our members worldwide, i would like to welcome our speaker and our guest at today's event as well as their c-span and public radio audience. i will ask as many questions from the audience as time permits. i would like to introduce our head table guests and ask them to stand briefly when th

paulson? >> thank you, madam chairman. you and your agents probably to a greater degree than that of the banks themselves are determined how many more survive and how many more fail. following up on the comments of my colleague previously, most of the bankers that i've talked to, and we've had numerous financial roundtables in the counties i represent and surrounding counties, would actually prefer a little dose of common sense to the infusion of more money, believe it or not. they mostly swear to me that if they are allowed to work through some issues without some monolithic bureaucrat beating them over the dog own head, they can work out of this think that they are very confident about it. and they're very confident that there's going to be massive failures if they are not allowed to do that. and let me add, that you're getting quite a few mixed signals here today. you are all against forebears but you are in favor of using commonsense. and i don't know where you draw the lines there. i mean, i really don't. at every rou

one of our sunday morning political talk shows, alan greenspan and henry paulson said a generational crisis faces the u.s. today in the deficit. china sits atop an astonishing level of foreign reserves greater than $2 trillion. british journalist martin bloch says not only will china be the next economic superpower but the world order it will construct will look different from what we had under american leadership. >> i don't believe it. it is perfectly true that the deficits are very large but they can be eliminated or substantially reduced. that is what we have got to set our minds firmly in favor of in the next few years and a lot of our future will depend on how we do at and the younger people must insist that the older people take a lead in this and we have created a crisis and we must solve it by cutting down, eliminating or reducing the deficit. the chinese have always made the mistake of thinking they can sell goods to the world without buying in return. they did this in the nineteenth century. it was very hard to export everything to china only we were very glad to do that.

we might not remember this because we probably didn't keep track of everything that paulson and bernanked george bush did, but lehman falls on september 15. then what we have on september 23, the chairman of the federal reserve and the secretary of treasury come into congress and they testify that they need $700 billion. they have a 2 1/2-page bill. they don't know what they're going to do with the money. but if you don't give it to them, it's world is going to end. that makes you uncomfortable if you're deciding what to do with your investment. not only that, but the next day, the president of the united states comes on national television and says the following, speaking to the american people to get them calmed down a little bit. he said financial assets related to home mortgages have lost value during the housing decline and the banks holding these assets have restricted credit. as a result, our entire economy is in danger. so i propose that the federal government reduce the risk posed by these trouble assets and supply urgently needed money so banks and other financial institutions