the state loaned the district money at 6% interest and placed it in receivership. all of that will be gone come june 1st when they payoff the last $10 million. >> but it is a cautionary tale not just for us, but for many other school districts. >> the govern area disa sh dash the governor's tax increase bill has to pass, if not others will face millions in new cuts ssments he was a parent of school-age childr ham. >> we were going to have to close the school district down early and children weren't going to be able to graduate that year. and it was a terrible, terrible thing. >> now that she is a board member and weathered the bankruptcy, the district needs more funding if it plans to restore programs and reduce class sizes. >> we are no where near out of the woods. we are still in a state that isth out of 50th in funding of schools. >> if passed it will give theri4 million a year for five years. that's fine for west contra costa. the school districts like oakland and vallejo are in receivership, and there is no sense when they will be able to retire their debt. th

the state loaned the district money at 6% interest and placed it in receivership. will be gone come june 1st when they payoff the last $10 million. >> but it is a cautionary tale not just for us, but for many other school districts. >> the govern area disa sh dash the governor's tax increase bill has to pass, if not others will face millions in new cuts ssments he was a parent of school-age children when the hammer fell in 1990. >> we were going to have to close the school district down early and children weren't going to be able to graduate that year. and it was a terrible, terrible thing. >> now that she is a board member and weathered the bankruptcy, the district needs more funding if it plans to restore programs and reduce class sizes. >> we are no where near out of the woods. we are still in a state that is 47th out of 50th in funding of schools. >> if passed it will give the district an additional $14 million a year for five years. that's fine for west contra costa. the school districts like oakland and vallejo are in receivership, and there is no sense when

colorado we have 1 million remaining in the state of colorado and it's under receivership. we have 1 thune,000 trees falling every year, create ling in florida oh, y an p mus do you have have a recommend baegs in so that you can make your business work and i think and we'll be working with often sen. >> i worked with the steward sthiep contrasting system owe but to simplify the process, to make it work for everybody would you super but the biggest hurd that will we're experienced as logger trying to bit on federal contract, is go with and to go threw environmental studies and archaeological studies and there's just the bureaucrat bei system to go through to get it sold, if you could increase efficiency in the government, bureaucracy side of it, then we could be moving forward. you're taking a resource over here and applying it to needs over there, whether it's road building or fire line creation or even if it's a cost situation of getting beetle kills down and bumper strips around those beetle kills, you can fold that right on into stewardship. so making it simple and givin

so what this bill does it puts fannie and freddie in a receivership which is like a structured bankruptcycreates a new entity called the mortgage finance agency whose job is to replace freddie and fannie in the securitizing and guaranteeing of mortgages but it has a 10-year developed plan to go out of business as a government sponsored entity and be privatized so the taxpayers are no longer on the hook for billions and billions of mortgages. host: let's look at some of those details that the senator just laid out that would shut down fannie and freddie and create this 10-year transitional program, eventually transferring mortgage programs to the private sector. it also creates a self-funding catastrophic fund to prevent taxpayer bailouts and it would pay back taxpayers for the fannie and freddie mac bailout. talk about those last two items, please, senator. host: well, there is a program in great britain in the catastrophic insurance business where there is a surcharge on insurance premiums which goes into a sinking fund which backs up a catastrophic insurance call of some type. whereby a

you have to put freddie and fannie in receivership so they do not feed on themselves downwardly, but you have to replace them with an entity that has the capability of securitized mortgages until such time as they are able to privatize which in our legislation would be about 10 years. >> about an hour from now, more road to the white house coverage as joe biden campaigns in new hampshire. he will be speaking at keene state college talking about the economy. later this afternoon, an author presents the history of american war reporting during au revoir ii. -- during world war ii. his book followed journalists from the front lines including walter cronkite and howard oil. he is speaking live this afternoon on book tv and 6:30 p.m. eastern. >> congressman, there are people that look at what happened with jpmorgan and say, here is a company that made a stupid decision, did something dumb, lost money, did not collapse, fired the people responsible, this is how the market works. what is the government need to be responsible? >> that is somewhat true, but i also take credit for it. the gove

credibility to the supervisory authority's commitment to place these firms into bankruptcy or fdic receivership when they fail. thus reducing the likelihood of future bailouts. i'm pleased to provide you these comments and i'm happy to take your questions. thank you. >> i thank you, dr. hoenig. dr. kroszner, thank you for joining us. >> i'm delighted to be here. my general approach to these very important issues that you've convened this hearing on is to try to clearly state objectives, what regulation and regulatory reform are about and try to weigh the costs and benefits of alternatives in order to decide which regulations and which reforms are most effective in trying to address those objectives. my priorities and objectives are very much shared by the committee and in the discussion that we heard earlier enhance had stability of the financial system and its resilience to shocks, since shocks are going to be inevitable. in other words, we can talk about it as trying to make the markets more robust to those shocks. i go into much more detail in the contribution to the book that i have with bo

colorado we have one mill remaining in the state of colorado and it's under receivership. we have 100,000 trees falling every day creating a fire threat into our areas. biomass plants, they're ready to go if they can just get the approval out of the forest service to move forward. do you have kind of a recommendation in regards to how to be able to structure those contracts so that you can make your business work so we can make healthy forests and we can be working with some common sense in terms of forest management? >> i personally have worked with the stewardship contracting system and it works really, really well so, i mean, the easier you can make it to where your contractors are willing to place a bid on it as close to your markets and other things, the better off you are all the way going to be. but to simplify the contracting process, to make it work for everybody would be super, but really the biggest hurdle we experience as loggers bidding on federal contracts is getting the timber sale approved to begin with and to go through all the environmental studies and th

accountability for actions taken, and to an important degree, to place the firms into bankruptcy or fdic receivership, thus reducing the likelihood of future bailouts. i'm pleased to provide you these comments and i'm happy to take your questions. thank you. >> thank you, dr. hoenig. dr. krauzer in, thank you for joining us. >> thank you very much. to try to clearly state objectives of what regulatory reform are about and try to weigh the constant benefits of alternatives in order to decide which reforms are most effective in trying to address those objectives. my priorities and objectives i think are very much shared by the committee in the discussion we heard earlier. enhance the system in its resilience to shocks. they are going to be inevitable. in other words, we can talk about it as trying to make the markets more are busts to the shocks and in the contribution to the book that i have with bob shiler and the former u.s. markets on reforming on trying to make markets more robust. we have to mitigate taxpayer exposure and incentives as was discussed in the previous panel. i share the objectives o

real advantage is it makes us more resolute to make sure we take them into either bankruptcy or receivership going forward. now we have even larger institutions accumulating greater risk and concentration, so the will part will be even more difficult to come forward. what the proposal i put forward says is let's take these high-risk activities and let's move them out into the market and let the market be the judge there. and the part that was meant to be protected by the safety net, the payment system, the settlement system, the intermediation process, let's allow that to continue to be protected. but we take these others where the subsidy has allowed the leverage to move up and take that away, then dodd-frank becomes even more, i think, powerful in the sense of resolving institutions that in fact fail with the next crisis. and i think that's where we have an opportunity to strengthen our hand going forward. and i want to comment on the fact that if you -- people say if you take this away, we won't be as competitive, but in the '80s and '90s before the repeal of glass-steagall, the united st

steps before a whole new situation the oakland police department has been under threat federal receivership for almost a decade. in two thousand and three there was a case where. basically it was determined that there was systemic brutality by the police against communities of color in oakland a lot of cases involved planting at a planting evidence and falsifying reports in addition to excessive force so we may actually be at the end of the line before a federal takeover wow that's that's interesting i did hear about that case a about evidence being planted by police so interesting when you think about what you know what could drive people to that let me ask you this you know as the struggle continues for workers' rights yesterday may day of course first started as to to bring attention to a change in the system that's needed in terms of labor i'm wondering what you can tell us we can expect next in terms of occupy. in terms of i can't speak for occupy as a whole but what i saw yesterday was a lot of smaller events taking place all over or so we had unions who had been reenergized who may n

because of that, it is in a form of receivership from the federal government. it creates the opportunity for people who are ideologically driven to do political mischief. this is not the first time that representative franks has tried to legislate is very restrictive position on abortion. this is the first time he has gotten it this far. i think he is trying to capitalize on a strategy that has been very effective, the notion of trying to frame the abortion restrictions in terms of fetal pain, which is not supported by scientific evidence. he is basically doing it because he can, because of the situation. >> dr. parker, can you talk about what it means to be a doctor who provides abortion up to 24 weeks? who comes to you? >> as i said, providing abortion up to the legal limit allows me to respond to the needs of women who are -- albeit a small percentage of women who actually have abortions -- in fact, 20% of the women who have abortions, only 2% -- that is not a small number. approximately 150,000 women annually in the country need this care. the women who oft

colorado we have one male in the state of colorado and its under receivership. we have 100,000 trees falling every day, creating a fire for into our area. biomass plans if they can just get the approval out of the forest service to move forward. do you have kind of the a recommendation regards on how to structure those contracts so that she can make your business work and make healthy forests to be working with commonsense forest management? >> i personally have worked with the stewardship of contracting system that works really, really well. the easier you can make it to where your contract curs are willing to place a bid on it as close to your markets and other things, the better off you're going to be. to simplify the contracting process to make it work for everybody would be super, but really the biggest hurdle we experience as loggers try to bid on federal contracts, giving the timber sale approved to begin with and go through all the environmental studies and the archaeological studies and the bureaucratic red tape that everybody has to deal with in order

note we have procedures in law put into the housing economic recovery act of 2008 where there are receivership provisions to wind down freddie and fannie. the dodd-frank liquidation provisions mirror those to some extent. if you believe that dodd-frank gives us the power to wind down jpmorgan or citigroup, if you believe we could wind it down, then we will. we have papers online. i know that he'll hang around to answer any questions. thank you. >> thanks for coming. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> here on c-span, we'll take you live next to the national press club in washington for comments by girl scouts c.e.o. anna maria chavez. they will be delivering remarks noting the 100th anniversary of the girl scouts organization. she's being introduced by president of the press club, theresa werner, here on c-span. >> please to note that 2/3 of the female members of congress have been girl scouts and all three female secretaries of state, condoleezza rice, madeleine albright, as well as sand ray day o'conno