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i was doing these performance art pop music pieces in the city.hey were a bit on the eccentric side, i suppose. so people started to call me gaga after the queen song "radio gaga." >> larry: at what age growing up, gaga, did you know that you wanted to be a performer? >> in the womb, larry. in my mother's warm womb. >> larry: at your birth. >> yes, at my birth. i guess you could say it's always been my destiny to be a performer. i used to perform even just in restaurants with my family or in the living room. but it's been really a very exciting transition now that i get to do this for a living. and i just refuse to stop. i probably should take a break and go on vacation. but i'd rather die onstage, not under a palm tree. >> larry: before you were a performer, did you have any other jobs? >> yeah. well, i was a waitress for many years. and a bartender. and i was a go-go dancer briefly as well. i used to make a lot of money to pay for demos and flyers that i used to post up all around the nyu area on the lower east side to get people to come see my

if no one was watching these things just pop up. everyone wants this president to do everything right now. he is not god. he is a man. a living, breathing man. he has the best of the best out there trying to figure out how the cap this thing. other callers talked about getting things, and if bp is responsible and we take the authority of going over their heads to step on their toes to talk about this problem, the+ liability is on bp. host: coming up next we will turn our energy to energy legislation. the legislation is on the senate side now with senator kerrey and senator lieberman putting a bill out there. we will talk with simon lomax of bloomberg next to talk about where this stands and what is in these bills. first we want to show yet -- show you footage they c-span producer shot less life of a party in how louisiana with folks watching the president's -- shot last night that of a party in the vienna with folks watching the president's address. [unintelligible] >> mining is cooper. we are in venice, louisiana. >> this is your r

this was a guy who didn't just pop on to the scene. this was a guy who was a very confident, political activist. really a zealot. you can kind of see both the poise he had, his willingness to go before a big crowd, but also the sense he wasn't going to play by the rules or do what other people said. i thought those were the two interesting things about that. he was very interesting in power, very interesting in politics, but not willing to play by other people's rules. it seemed a pretty instructive episode. >> as you know, when he went to prison, he was supposed to be there i guess according to what i read until 2012. he got out this week. hhw well do you know him and why did he get out early? >> well, my understand is the sentence was revised to a four- year sentence with time already served, so he was supposed to be in for another six months and he went through a drug rehab program and got out early to go to a halfway house near baltimore. i think that -- i mean, i knew him. i had met him very briefly long ago prior to going into pr

these only pop up during these membership drives. current generous members of weta will match all pledges of $35 or more dollar for dollar. this is only for the remainder of this break so don't wait. call us right now. the programs on weta are exceptional because there are committed individuals who provide financial support to keep the quality of our shows high. they understand how valuable programs like "the newshour" are and they're willing to do their part to help share the costs of great programs and that's where you come in, too. if you take just a moment now and call the number on your screen with a pledge of $75 or $120, $150, this is for a whole year now, you too can become a supporting member of weta. >> it may seem unbelievable when asked how many people say they don't contribute to public television only because they didn't realize we need the financial support. that's right. they did not understand how important individual membership contributions are to sustain a community station like weta. your pledge right now is very

hugo chÁvez and mahmoud ahmadinejad will be popping champagne, but the consumers will rrmember the goodold days when gas was only four dollars per gallon. i asked secretary salazar to ask what went wrong on that the deepwater horizon rig. he said you believed it was preventable, that ii was the result of human error and overlooked safety regulations. [buzzer sounds] i will wait for that. we will not be satisfied until there is no danger to our environment. let us learn from this awful mistake, fix the problem, clean up the gulf, and look forward to fixing our ailing economy and creating private sector jobs. >> we recognize the chairman of the full committee, the gentleman from california, henry waxman. >> thank you for holding this hearing and for your tenacious work on this issue. you have been a true advocate for transparency and admonished traded accountability. accountability.ative%- you have kept the american people informed about the unfolding disaster in the gulf. yesterday, we released a letter excoriating the terrible decisions made by bp in the days leading up to the blowout.

itllo us toiscushow o ciples of fedom and smaller governnt coulde plied toheriorities o the erican pop. inime we will produce anew governi anda for america guided by is open pcess a ilt on ou consertive principles. and wt to donstte tt cgress shouldsue diffnt picies and opete is house morsponsibl than bothemocrats and previous republan majorities. and if i hear sething all e time othe reican sid ts room it'that we don't to treat the democrats th way we used to treat themand we don't want to be treed the y that decrats have treated us. i really belie tt e 112th congress at begins in january could be a new beginning for our untry. it w onlbe so if t american people y it willbe so becse themecan pele are the ultateovernors of this countrand they govern with their votend tll have an oprtunity inomber to vote. so pase vit americaspeakingoutom, give us ideas weant to know, ant to bud a working bipart majorityith the americ people. so we are legisting what the american peleant, nt what liberals want, not what nrvativ want. , -- amrispeakingout.cois f amicans toeigh ion i oered by others. ever

hugo chavez will be popping champagne. the team of engineers tapped by secretary ken salazar to examine what went wrong on the rig recently wrote, "we believe the blowout was caused by a highly improbable chain of human error is coupled with several equipment failures and was preventable. the petroleum industry will learn from this. it can and will do better. we should not be satisfied --" just wait for a second. "we should not be satisfied until there are no debts and environmental impacts offshore ever. however, we must understand that as with any human endeavor, there will always be risks." let's learn from this awful mistake, fix the problem, clean up the golf, and move forward to fixing our ailing economy and creating private-sector jobs. i yield back my time. >> the chair recognizes the chairman of the full committee, the gentleman from california, mr. henry waxman. >> thank you for joint -- for holding this hearing and for your to natioenacious work. your efforts have kept congress and the american people informed a

struggling, if you had the money you'd buy better health insurance, but since you don't we're going to pop you with another additional income tax. going to add a couple percent to your income tax, merry christmas. you don't have enough money to buy the insurance, bless your heart, you're the working poor, you're qug it be -- you're going to be poor because of this health care bill. during the job bill last week i was talking to an employer who was saying, you know, we've got a number of jobs that are entry level, so they're making minimum wage but it's a good entry level place and we provide some good health insurance. so, it's minimum wage but we provide them health insurance. so it's a great place to be somebody young to start now, get their foot in the door, get experience, be able to advance up from there. guess what? understand under the health care bill -- under the health care bill that was passed and signed into law this spring, he can't do that for people that make 133% or less of the poverty level. so those people who would go take that job, because even though it's minimum wage,

he may have had a pop or two. i said we have a story a would like to read tyou. i ben reading.hn mitchell while attorney general of the united states controlled a secret fu. he said jesus. i read a few more words by which time it said john mitchell well attorn-general controlled a secret fund andaid for undercover activities against the political opposition. i got that far and he said je sus. i g to the end of the third paragraph by the time the draft was clear, he said jesus christ. you are going to print that crap if you run that, then a person from the washington post is going to get her tit caught in a big effect render. i was not accustomed to talking to an attorney general. i mped back from the phone myself because of fear ofy own parts because this can certainly have the power to squeeze them. he went on to say when this campaign is over, we are going to do a little story on you boys, too. in retrospect, it is an amusing story, but i was 28 years old at the time. it was about the most chilling time in my 50 years of journalism that i ever experienced. this was a man of e

i'll pop up elsewhere. when are you going to leave the daily grind? feel like leaving the same time you do at this point. but i think the -- i think bill maher is totally responsible for this. >> no, no. not at all. >> larry: in what way, regis? >> just by being there. bill maher has cast his spell on you. >> no. i -- i would do anything to keep larry in this chair. >> so would i, bill. i'm only kidding. >> i know. >> it's like i said, larry king has always been there, always been there. i'm going to miss you terribly, larry, because, frankly, you're one of a kind. >> larry: well, so are you, reg. >> i'll miss your suspenders, i'll miss your voice, i'll miss everything. >> larry: i'm not going away. >> okay. that's what i want to hear. that's why i called. i want to make sure you're not going away. >> larry: you're a doll, regis. i'll see you in new york. >> good night, bill. take care, guys. >> good night. >> that was not regis. that was an impressionist, but he did a fantastic regis. >> larry: did you see the guy at the mirage in vegas? >> what guy?

. >> give it a little pop up. let it down. ♪ >> i could really get used to this.er spending the day ice fishing, i actually want to get knocked up. just out of sheer boredom. can we go to the mall? >> sounds good. >> holding levi close, feeling my heart beating against him, i realize this is where i'm meant to be, for three days. and then get me the [ bleep ] out of here. have you been to wasilla? >> larry: no. >> it blows. i'm not going to lie. it blows chunks, yeah. it's not what we want the country to be like. when sarah palin said i would run the country, you know, you betcha', the way i run wasilla, that's not what we want. it's a lot of boredom and then some crystal meth. and go ahead. write your letters. i don't care anymore. go ahead, tweet me about it. >> larry: what is your attraction to levi? >> i get him in a way bristol never did. and also, every time that i'm with levi and put him in the public eye, i feel it's my very subtle middle finger to sarah palin. go ahead, tweet me palin freaks. i've seen his johnston, have you? >> larry: no. >> it goes on a

it involves the choice of a colombian pop star shakira to sing lead vocals instead of an african artist. we posted the full military report on the grave sites that have been misidentified at arlington national cemetery. plus betty ann bowser recaps her recent interview with f.d.a. commissioner doctor margaret hamburg. find out what hamburg has to say about the agency's track record on food safety. all that and more is on our web site, newshour.pbs.org. >> lehrer: and again, to our honor roll of american service personnel killed in the iraq and afghanistan conflicts. we add them as their deaths are made official and photographs become available. here, in silence, are eight more. >> woodruff: and that's the "newshour" for tonight. i'm judy woodruff. >> lehrer: and i'm jim lehrer. we'll see you online. and again here tomorrow evening with mark shields and david brooks, among others. thank you and good night. major funding for the pbs newshour has been provided by: the national science foundation. supporting education and research across all fields of science and engineering. this program w

in industry in china, they are worried that by pressurizing the whole system with money thatt would pop out as a housing bubble, so what they did-- you can clearly seethat china is beg run by engineers. actually if you look at the cv's of everyone in chi, we are going to pressrize the system. we don't wt it to come out of the housing bubble so we are going reinforce housing by turning up the mortgage origination standards which is also what israel has been doing. i am very interesting and what the results will be in those markets, because among other things that will be a calibration sample we will see what is the effect of a 10% change besideshe political uproar. maybe it will have whatwill be a faly predictable effects on bothrices and volume in the real estate rking could be very valuable. >> we are still a long way from th50% down paymentof 1913. mark, we are coming to the question period and i'm going to ask the first question. mark, could we get you-- stephanie i would like to go backo a slide. it is the one called the cyclic gray adjusted capital buffer. is it too much trouble to

could reallocate betwe those pops is one step. nodditionalevenue al, we look at the bilon a daye spd outside, $1 trillionnergy bill forhe country. only aery small fraction, less than 1%,l more tn pay f what we are talkin about. when you lk at whats in the best interest of users, if there we some kindf fees tha would partf the energ system, that coulden opti. host: youentioned the business leaders are not from energy coanies. n you give viers an idea of w ch to run a company, how much energy costs you. what impacon your ttom line? gu of course it varies endousy ccuntry. but of perspective, tural gas to dollars per unit forever. -- was $2 per unit for ever. $4 per unit now, spike over $10 r unit. certainty around energy cost is not att used to be. that is one key facto all depends on whereou are. at dupont, we saw this need we took an effto keep o energy flat as we increase our production. we were able to save cuba to blee over $4 million on -- just -- we were able to save kunitz of lead for mlion- dollar just on and it. how do we g

. >> suarez: as american-owned fast food joints pop up around the country , they've been followed by another american cultural symbol: weight watchers. at weight watchers in shanghai, program director works with clients to limit the amount of food at meal time. >> unlike the western countries where people are very used to cups, spoons, teaspoons or tablespoons we don't have that. it's hard for people to find out how much they have eaten. >> suarez: chinese meals are often eaten from serving dishes in the middle of the table for all to share. people eat straight from the communal server until the food is gone. how would you know how much you've eaten? it's tougher to limit your portions. >> estimation we would ask them to put their foods... on the plate in front of them. s so that they could have a portion. they could get a sense of their portion before they eat it. that would also slow the process down. so we're asking people to change their eating behavior a little bit, a tiny little bit. >> suarez: the dramatic increase in obesity here has been followed by a similar jump in the num

>> if you do an historical analysis comparing the depth of downturns in the past to the pop you tend to get in recovery this is undoubtedly subpar. given the contraction you saw in the economy would you actually expect at some point in the first year of recovery to get about a 7 or 8% gdp quarter that is a pretty pie in the sky number. nobody has an estimate resembling that. so far the first quarter of 2009 has been the best quarter in the recovery, up 5.6% so even that very strong quarter in the context of broad history, relatively weak in the context of the downturn that we got. our view has been at schwab that the most likely scenario would be if we remember this from our math days, a square root recovery. so you get the v initial v where you get a rebound from the bottom but then you get a little bit of a flat line as opposed to it continuing. that's a better scenario than the dreaded w or double dip recession. i till think that that is a fairly low priority. but i think it is this uncertainty. all of the aforementioned uncertainty that is elongating the period between the contra

the kellogg company is recalling 28 million boxes of cereal, including apple jacks, corn pops froot loops and honey smacks. people have complained of the package liners giving off a waxy smell and flavor kellogg said the potential for serious health ze lost his second round match in wimbledon today in about 75 minutes. it was the shortest match of the championships so far, coming one day after isner won the longest match of tennis in history. after the match, isnor said he was heading home. >> i'll watch sports, i'll take in the world cup. i'll, you know, go fishing. i'll do whatever, just anything away from the tennis court . >> sreenivasan: isnorwon just five games in today's entire match. >> brown: now to judy for our weekly political analysis. >> woodruff: and that is shields and brooks, of course. the big story of the week , general stanley mcchrystal and what he and his staff said, mark about the president, and a lot of the civilian leadership. what do you make of this? >> well, i mean, it was a totally unexpected, outof the blue crisis that hit the white house , hit the administrat

their inflation rate's popped up to 7% or so. they're worried about overheating.they're starting to step on the brakes. letting the value of the currency rise would help that. it would make imports cheaper, dampen demand for their exports, just what the doctor ordered. so it's actually quite puzzling that they do not see the light and imp plemt what they've said for five years they're going to do-- reduce their trade surpluses, let the currency follow market-oriented prices. >> suarez: where do you see this issue headlined? >> i'm afraid it's headed for a big dust-up. the chinese are now digging in their heels again, as you said. if there's no action through this g-20 meeting a week from now, there's going to be big push-back from here. the secretary of the treasury will have to issue this report. i think he'll have to label china a currency manipulator, which they will hate. whether he does or not, the congress is very unhappy. senator schumer and others are ready to pass legislation which would, at a minimum, require the u.s. to take account of this cheap curren

hayward, when i heard about the explosion in the gulf, the immediate company that popped in my brain was bp. and that's because last number of years from texas city where people have died and 170 people were injured, the north slope, the problems we had there, in bp's own 2007 report on the management, accountability project in which it stated there was a culture that evolved over the years that seemed to ignore risk, tolerate noncompliance and accepted incompetence. i wasn't surprised when we heard about the explosion in the gulf and bp was part it. since then this committee, the oversight investigations committee of the energy and commerce committee we methodically looked at this issue and i know you have and your company has also. on may 12th we had a hearing which we looked at a number of things that went wrong. on may 25th, our committee, chairman waxman and myself put out a memo and based on bp's preliminary report and i'm sure you're familiar with that report. are your not, sir? >> i am. >> on june 14th, chairman waxman and i sent you a letter where we talked about the crazy a

kicked off by an oil and debris fire on the cuyahoga river which became a parody pop hit making cleveland a national joke . as ohio lost out to industry elsewhere, so did cleveland's sports teams. then 2003, along came james who grew up in akron 30 miles south of cleveland and is now a potential selling point for region in an increasingly service driven global economy . team president len komoroski says he's helped turn the cleveland cavaliers into an international brand. >> we have fans who come here and make the sojourn from all over the world. we are one of the most heavily televised teams in our league but nationally as well as internationally. and even in china we were on 34 times in china . >> reporter: with a t.v. audience in china of 100 million a game. restaurant owner terry tarantino recalls his travels to turkey eight years ago. >> no one knew where cleveland was. they knew it was maybe close to new york, is it close to chicago now lebron james gets on the team, "where you from?" "i'm from cleveland, you ever here of cleveland?" "come on, man, i know cleveland. lebron james." >

we would be talking about these things if we were into pop lture. much of the conversation at our table focused on how do you play the inside game and the outside game but also how do you move away from whiping votes around a particular piece of legislation, which i think many organizations get caught in the trap of and set out a clear vision and set of principles around which you are going to compare any piece of legislation that comes along? i would say that around financial reform and economic justice matters, we one part of the policy and i think we still have the opportunity to win the debate and continue to win the debate. thanks to bob cutler has been working on this issue for many years, that's an area where progressives can continue to put a lot of energy and emphasis and still win the fight. >> thank you. that gives you the last word. thank you, everyone. we're going to go almost immediately into the next session. i will ask you to hold your seats and we will bring the panelists up and i will do it quick introduction. i'm sure you will be

we would be talkingbout these things if we were into pop culture.of the conversation at our table focused on how do you play the inside game and the outside game but also how do you move away from whiping votes around a particular piece of legislation, which i think many organizations get caught in the trap of and set out a clear vision and set of principles around which you are going to compare any piece of legislation that comes along? i would say that around financial reform and economic justice matters, we one part of the policy and i think we still have the opportunity to win the debate and continue to win the debate. thanks to bob cutler has been working on this issue for many years, that's an area where progressives can continue to put a lot of energy and emphasis and still win the fight. >> thank you. that gives you the last word. thank you, everyone. we're going to go almost immediately into the next session. i will ask you to hold your seats and we will bring the panelists up and i will do it quick introduction. i'm sure you will be excite

host: why has it somalia become a pop -- focal point for piracy? guest: first there is a lack of governance in the country itself. piracy has been going on since the third boat was built thousands of years ago, but by and large in the contemporary world many of the nation's with many maritime interests have the wherewithal in their government to deal with their own nationals. that is not the case in somalia. i hesitate to call it a government there in somalia. they are trying very hard to deal with citizens in carrying out these attacks, but they cannot do it. you need governments to deal with piracy. you need international collaboration, which we have to a great extent in the international community to deal with piracy as a phenomenon. but countries in the region are not as strong as we would like denn to be in terms of dealing with regional aspects of the problem. -- we would like them to be in terms of dealing with regional aspects of he problem. it is very difficult to tell who is doing what in the maritime environment. there is so much traffic

caller: hi, i was thinking instead of capping it and if using that, they should have popped it up to the surface, connected a pipe inside another and connected it, and shot the oil on to the surface and put it into barges. i think it would have gotten rid of all that oil they're dispersing all over. it is all under the sea and going everywhere. guest: the secretary of energy, a nobel prize seat --i have a lot of confidence in him. he is not in the business, but they have called experts from all around the world and to this. consulted with everybody. my expectation is that in every other idea has been considered because all of them want the samet thing thehey want this gusher stopped. host: here is a question for you, byron dorgan. i watched the house of commons discussion -- guest: i have also indicated that bp is the responsible party. they have the least, were drilling the well, and contacted for it. there is a responsibility in other areas as well, but bp is the principal here. my understanding is that transition moved their headquarters to switzerland -- that transocean moved at

host: why has it somalia become a pop -- focal point for piracy? guest: first there is a lack of governance in the country itself. piracy has been going on since the third boat was built thousands of years ago, but by and large in the contemporary world many of the nation's with many maritime interests have the wherewithal in their government to deal with their own nationals. that is not the case in somalia. i hesitate to call it a government tre in somalia. they are trying very hard to deal with citizens in carrying out these attack, but they cannot do it. you need governments to deal with piracy. you need international collaboration, which we have to a great extent in the international communi to deal with piracy as a pnomenon. but countries in the region are not as strong as we would lik denn to be in terms of dealing with regional aspects of the problem. -- we would like them to be in terms of dealing with regional aspects ofhe problem. it is very difficult to tell who is doing what in the maritime environment. there is so much tffic. it is ver

is about mom and pop video stores that cannot survive because peddlers on the streets. it's about kids not getting the after-school job selling popcorn -pat the theater because the theater cannot survive. there is a distinct connection between organized crime and movie piracy. you will hear from someone from rand who will talk about the study that rand conducted that makes it clear the connection to organized crime. game violence, money laundering in the united states. extortion and hong kong. human smuggling, exportation in northern ireland. human smuggling in spain. money laundering and extortion in italy. gang violence in mexico. in mexico, the drug cartels have become so bold with their counterfeiting that one group and another group now identify their counterfeit goods with their logo placed on the packaging. a serious problem. the link to terrorism is there ken holt carla -- and i hope carla speaks to that. it is a serious problem that we need to do something about. there are several things that i think are required. i applaud the center for hosting this symposium

a lot of them are mom and pops with five, 10, 20 people. if you tax the people that own the small businesses, you say that guis making $200,000 -- that's what obama said, if you are making $250,000, watch out. of course he wasn't telling the truth, because this tax they were pushing on the global warming deal, you hit the light switch, you get the tax. guess what's that is going to do. i yield to my good friend from georgia. . mr. broun: you're exactly right. not only does excessive taxation kill technology, they can't buy inventory, so they can't sell goods to consumers. the consumers don't have the money to buy goods and services so it kills the economy. it's very, very simple economics. the thing is, we're going in the wrong direction. we -- you talked about the energy tax that's been proposed that nancy pelosi jammed through the house of representatives here. it's what's called a regressive tax because it's going to hurt people on limited incomes and poor people the most. it's going to make their gasoline prices go up. i've heard many d

we would be talking about these things if we were into pop culture.h conversation at our table focused on how do you play the inside game and the outside game but also how do you move away from whiping votes around a particular piece of legislation, which i think many organizations get caught in the trap of and set out a clear vision and set of principles around which you are going to compare any piece of legislation that comes along? i would say that around financial reform and economic justice matters, we one part of the policy and i think we still have the opportunity to win the debate and continue to win the debate. thanks to bob cutler has been working on this issue for many years, that'an area where progressives can continue to put a lot of energy d emphasis and still win the fight. >> thank you. that gives you the last word. thank you, evyone. we're going to go almost immediately into the next session. i will ask you to hold your seats and we will bring the panelists up and i will do it quick introduction. i'm sure you will be excited to hear w

, loss of comfort, those kinds of things, it would impose a burden on the oil companies, on mom and pop companies. that's what i get from your testimony. >> i did not address that issue at all in my testimony, senator. >> well, in your written testimony you were questioned if it imposes, quote, an unacceptable threat, under, quote, current conditions that would justify moratorium. are you saying that the b.p. rig was operating in such an irresponsible and reckless fashion that it was wrong and such egredgeyussly neglect manner that -- egregiously neglect manner that it would be irrational to put on a six-month moratorium on new deepsea drilling? >> once again, thank you. the question -- my statement with regard to that had nothing to do with the facts of the b.p. case. because i don't know the facts. i am not the investigator of it. >> you write that -- >> those will be determined. >> you write, a six-month drilling moratorium because under the conditions the deepwater horizon poses an unacceptable threat of irreparable harm to the environment is highly questionable. what questions here

stand for wine and their assets are all treasury bills it is not easy to define, but the size of the pop of the bubble was accentuated because of the leverage that exist in the system. those would be two points that i would try to address intelligently. >> thank you. >>one question on the kind of incentives, upside and downside. you talk aut financial institutions. the very structure of credit rating agencies, it does seem in the end that there a lots of upsides and very little downside. i think there is a fine distinction between financial institutions that received federal money and, i mightdd, credit rating agencies that got us there. wasn't this system is tilted in terms of lots of upside and downside? >> i think most of corporate america is tilted back way. >> i know you are a owner but come on. >> we have seen significant downside. ere is no question. the mistakes that were made at moody's and standard and poor's had affected their stocks. >> i have no right to ask u this, but just as the rating encies proced what ever a triple a was and then investment banks and others were able t

he may have had a pop or two. i said we have a story a would like to read to you. i began reading. of the united states controlled a secret fund. he said jesus. i read a few more words by which time it said john mitchell well attorney-general controlled a secret fund and paid for undercover activities against the political opposition. i got that far and he said je sus. i got to the end of the third paragraph by the time the draft was clear, he said jesus christ. you are going to print that crap? if you run that, then a person from the washington post is going to get her tit caught in a big effect render. i was not accustomed to talking to an attorney general. i jumped back from the phone myself because of fear of my own parts because this can certainly have the power to squeeze them. he went on to say when this campaign is over, we are going to do a little story on you boys, too. in retrospect, it is an amusing story, but i was 28 years old at the time. it was about the most chilling time in my 50 years of journalism that i ever experienced. this was a man of enormous power and the

it is not easy to define, but the size of the pop of the bubble was accentuated because of the leverage that exist in the system. those would be two points that i would try to address intelligently. >> thank you. >> one question on the kind of incentives, upside and downside. you talk about financial institutions. the very structure of credit rating agencies, it does seem in the end that there are lots of upsides and very little downside. i think there is a fine distinction between financial institutions that received federal money and, i might add, credit rating agencies that got us there. wasn't this system is tilted in terms of lots of upside and downside? >> i think most of corporate america is tilted back way. >> i know you are a owner but come on. >> we have seen significant downside. there is no question. the mistakes that were made at moody's and standard and poor's had affected their stocks. >> i have no right to ask you this, but just as the rating agencies produced what ever a triple a was and then investment banks and others were able to take the leftovers, restructured them

that way we will have a better understanding of these cases that pop up. ioc2 is also working on investigations and multi-sure additional prosecutions -- multi-jurisdictional prosecutions. once we get the data, we will find out about the connection with intellectual property crime. we are also working -- there are many folks in the industry that i talk to regularly and am available to talk more, but think it is absolutely true that industry has a very significant role and they are often at the front line of what is happening. they have very valuable knowledge and expertise to share with us that can help us in this effort. we understand that and we have worked with industry. we will continue to do so on these types of things. training -- this is nothing that bruce has mentioned -- the people that investigate organized crime offenses and the people that investigate intellectual property offenses do not always communicate. what we have started to do is to bring those groups together and provide training to each of them on each of the topics so that everyone c

these are fishing vote captains, small mom-and-pop restaurant owners. in florida, we have chosen not to industrialized our coastline. we rely on tourism, clean water, clean beaches. folks are angry that safety matters, that they merely cut corners. it is apparent based on the evidence i have received in the energy and commerce committee, that they put process over safety. they will have to pay a price under the oil pollution act of 1990 that says the responsible party must pay for cleanup. we all know there will be impacts of this disaster that will not be contained in that law. right now, there is a 75 million-dollar cap on damages. that is a drop in the bucket on total damages. i would like to put you in touch with someone like patti hubbard, who owns a restaurant in clearwater, florida. there are 20 people in her family. she said, we made it through the recession, the coldest winter ever. they are hard-working folks. why should they be on the hook for bp's criminal actions? host: what about oversight from mms, other federal regulators? guest: there i

i wanted to put a little bit of pop culture into my analysis.ad numerous calls asking how to translate that into turkish. i had to claim ignorance on that. it means that in some areas, the united states and turkey remains somewhat cooperative. but we find ourselves on severed ends of important issues. there are serious questions come up with regard to syria. tensions are rising. in washington, before this flotilla incident, the discussion was when there would be issues between israel and syria. it is not that turkey is fed but in at the end, there are changes in the international system. we are feeling the effect of the end of the cold war. it looks like turkey is not going to get into the european union. it is more democratic than it ever was before. all of those changes are driving a divergence in foreign policy. it has translated into a very different approach to the nuclear challenge and a different view on a whole host of issues. in many ways, the turks are beating washington. the prime minister is very host: if that is true, what does it m

the -- here inthe coress, particularly om the other side,e said, well, but you'll driveut the mom and pop, y'll ive ou the independents. ll, yohave to have the ability to repair -- well, to re a rair and pay for any dageshen you go ito siness. the point of the oil lbility legislationto prote small businesses. it to see -- it to otect our environnt adhe life of ameran citizens and t well-bei and econo rtunities for american itins. and that is -- and that means that the coideratn should be how much damage can be done and the liability shoulbe the liability l shod be large enough to cover the damage that n beone. noask whether, oh, thiis going to put too muc burden oa smalcompany. the considerion should be, what is the damage, anthere shoulde adequate liabilityo cover that. i'm hopul that he next week or sill rae this liility limifromhe hay small mb of $75 million to at lst $10 billion. and i thank thntleman for oining me this -- in this effort. the american public crying for it. they want tonowhat in law and ifact b.p. wi be held respoible f the damage they've done. mr. connolly: i thank my