>> dryeah. >> we do have peter orszag. there's a piece in the "new york times" that explains the cover, sort of the history of the pandit exit. we all woke up last week and he lost his job. he said that he had resigned on his own. it's an incredible story because what it explains is that the chairman, michael o'neal, literally had him come in the office, he had no idea what was happening, the day after -- the day of the earnings report. just a regularly scheduled meeting. and he says i have tlooe press releases here. i have one press release that says that you are going to resign immediately. i have another press release take says you'll resign by the end of the year and another press release that says you've been fired without cause. what would you like to swleelec. >> this races questions about disclosure. obviously o'neal wasn't on the conference call, but to know you were going to spring it on him is -- i don't understand why it would go down that way. >> didn't pandit tell maria things that -- what did he tell her? >>

peter orszag, the former head of the budget bureau, wrote an op-ed in "the new york times" saying, basically, contra my own instincts the problem with the united states is that there's too much democracy. we can't get anything done if we actually try to do it through elections and democratic procedures. what we need are ever more expert commissions that will make decisions for us. now, maybe that's true. but it should be recognized that if that is the solution to our problems, then we should stop prattling to other countries around the world that what they need is more democracy. because, in fact, we would have come to the conclusion that democracy doesn't really work. >> sandy, i really welcome this. i think my understanding is that the time of the federalist papers in our constitution in 1787 and so forth grew out of a lot of study of constitutions across time and across countries and so forth. and so that grew out of serious study of other good constitutions. now, what you're proposing, i think, is this constitutional convention which i find quite interesting, and i think your knowledge o

peter orszag, the former head of the budget bureau, wrote an op-ed in "the new york times" saying, basically, contra my own instincts the problem with the united states is that there's too much democracy. we can't get anything done if we actually try to do it through elections and democratic procedures. what we need are ever more expert commissions that will make decisions for us. now, maybe that's true. but it should be recognized that if that is the solution to our problems, then we should stop prattling to other countries around the world that what they need is more democracy. because, in fact, we would have come to the conclusion that democracy doesn't really work. >> sandy, i really welcome this. i think my understanding is that the time of the federalist papers in our constitution in 1787 and so forth grew out of a lot of study of constitutions across time and across countries and so forth. and so that grew out of serious study of other good constitutions. now, what you're proposing, i think, is this constitutional convention which i find quite interesting, and i think your knowledge o