sure is the ninth circuit judge reinhardt they can't take them all. i will do what i always said, i will do what i want to read it can't take them all. john is here today but from "the wall street journal" versus milwaukee, it had to do actually with security business case, business law, no dissent. the question is whether there was lost causation and transaction causation. transaction causation means your fraud caused you to enter into the transaction. i sold to life insurance and i wouldn't have sold this to had you told me honestly you were a heavy smoker but then you walk across the street and get hit by the bus and your state wants to collect life insurance and lost causation is to show that the loss, the fraud calls the loss. well, your smoking didn't cause you to get hit by the bus. the supreme court said no dissent that all you need is transaction causation. you don't need lost causation. we might call that a loss for business. i realize the case is out there, but i think in general the court looks at the law which is why you get these cases t

the view of the ninth circuit, judge reinhardt, is they cannot take them off. i will do what i want, they cannot take them all. in another case, it had to do with securities law. no dissent. the question was there was -- weather was there was loss causation and transaction causation. that means you're fraud caused it to end into the trends that -- entry into the transaction. i would not have sold you insurance if you tell me honestly you're a heavy smoker, but then you get hit by a boss. loss causation shows about the fraud caused the loss. you're smoking did not cause you to get hit by the boss. b -- bus. i realize there are these emotional cases out there. in general, i think the court looks at the law, which is why you get cases that are seven- one, seven-two, nine-zero, and once and awhile, it breaks down to ideological grounds. pre-emption cases -- chamber of commerce clause, the business case in arizona where the court tells us it is constitutional for arizona to take away the licenses of a business that knowingly hired any illegal alien. i think that was

we have the rogoff-reinhardt study. secretary geithner said it is an excellent study.he said in some ways it understates the problem we have. he knows this is a real problem for mechanic. their study shows that when your debt reaches as large as ours, it starts pulling down economic growth. we expected 3% growth the first quarter. came in at 1.8%. could that be because we've crossed the 90% threshold already in debt to g.d.p., and that debt becomes a burden on the economy and reduces growth? this quarter's growth is going to be lower. the experts are downgrading the projected growth for the third and fourth quarters of this fiscal year -- this calendar year. a very serious thing. and christine roemer, who used to be in president obama's white house on economic matters, said 1% growth means you'll add a million jobs. so if we lose them and come in at 2% growth instead 36%, we fail to add -- instead of 3%, we fail to add a million jobs we could have added. and the debt, i truly believe, is the reason we're having surprisingly low growth rates. below projected rates. mayb

we have the rogoff-reinhardt study. secretary geithner said it is an excellent study. he said in some ways it understates the problem we have. he knows this is a real problem for mechanic. their study shows that when your debt reaches as large as ours, it starts pulling down economic growth. we expected 3% growth the first quarter. came in at 1.8%. could that be because we've crossed the 90% threshold already in debt to g.d.p., and that debt becomes a burden on the economy and reduces growth? this quarter's growth is going to be lower. the experts are downgrading the projected growth for the third and fourth quarters of this fiscal year -- this calendar year. a very serious thing. and christine roemer, who used to be in president obama's white house on economic matters, said 1% growth means you'll add a million jobs. so if we lose them and come in at 2% growth instead 36%, we fail to add -- instead of 3%, we fail to add a million jobs we could have added. and the debt, i truly believe, is the reason we're having surprisingly low growth rates. below projected rates. may