reporter: rubin will be coming home to a town still in shock where a book of condolences have been open for those who knew the friends and neighbors. his brother and parents all died in the crash. they ask that the world now opt his privacy. everyone wait a minutes to -- wants to know what is going to happen, but please leave him in peace. >> rubin's father was keeping a blog about their holiday. they're getting are to welcome him back. we're hoping he will come back soon says the principal and we'll all take care of him and organize professional support to help him cope with his sorrow. as he continues to recover, the grim work of identifying the bodies of the airfield in libya goes on and aviation experts looking at the plane's black box to determine the cause of the crash. rubin is going home to a loving and supportive community, but it's not clear who is going the look after him full-time. >> in an interview, the boy says he remembers nothing about the crash. they found him still buckled into his seat. >>> a bit of a -- wild start on wall street. it was down by noon and rose. let's

he wooed rubin, calling him every day, meeting with him every day for 30 days, and finally got rubin to join on. c-span: here's a picture of three people. he's in the center -- james robinson, who used to head up american express, on the right. the one on the left is james robinson's second wife, as you know. and she used to work for the republican national committee. >> guest: right. linda gosden robinson. c-span: yes. >> guest: it's a great story between jim robinson and sandy weill. jim robinson is a patrician, chairman of american express. he brought in sandy when he bought shearson, and they were the exact opposites, and they could not get along. and ultimately, jim robinson won out over sandy weill over who would control american express, and it was sandy's most public defeat in his career. but today they're friendly. c-span: you said that... >> guest: don't burn bridges. c-span: ... this man in this picture down here is the largest stockholder in citigroup. >> guest: that's right, prince... c-span: what's his name? >> guest: ... al waleed, prince al waleed of saudi arabia. he

i thank bob rubin for his introduction. think he is the finest treasury secretaries and alexander hamilton, and i still believe that's -- treasury secretary since alexander hamilton, and i still believe that. i supported the president puts a stimulus program. it was difficult for me to say that, because i did not want to increase the deficit, but the economy was contracting at such a rapid rate that i think the deficit would be worse if we did not do something to stabilize it. we would have had many more people unemployed in the government alone if we had not done something about that. we cannot do something to generate more jobs unless we deal with immigration and these other issues, education, energy, the cost of war, and especially health care. >> do you agree with what president barack obama announced yesterday, that everything has to be on the table, including the recently passed health care reform bill. >> sure. i would think the president would want some sort of a good- faith bipartisan effort. if i were in congress,

that is why richard rubin calls it an acute source of embarrassment and i don't think based on the name said richard rubenstein is a christian-- my guess is not that he is being honest and objection. muslims would turn their backs on this and farsighted hopes took the fateful step islamic leaders objective. italians were the first great banking instigators. they did to other things. they invented double entry bookkeeping, which was critical. they also entered the arabic numerals into the world. beer is of course to taken them from the indians. they had the number oh, numbers and doing credit and debit calculating in roman numerals, did you ever try it? don't, it is impossible. but that is what happened. one of the key people they took, the central person of this whole intellectual revival was aristotle. they rediscovered aristotle and what they did instead of rejecting aristotle as a pagan, they liked his notion of reason and integrated that into their own worldview. they began to see that faith and reason were not enemies. faith and reason or friends, they were compatible, do you can f

. >> rose: did that go beyond alan greenspan to bob rubin, larry summers and everybody else? >> yes, and it went to the occ which is the other big bank regulator and it is still the same. so they haven't really blown up the regulatory structure and started again with new people, new structure and new mandate and new culture. that's what i think has been missing from this. >> i want to make one point about this. and i am surprised just like steve that there has not been a harder line on the fed, a harder line on all of the regulators. i was just in canada two days ago where, by the way, the fed's only job in life is to make sure there's no inflation. they have no supervisery powers at all. it's actually a very good model. we have gone the opposite way. >> rose: but greenspan believed that was one of his primary jobs. >> but do me one of the most interesting thing is we all have add. we have all suggested how frustrated we are that there hasn't been a bill. i would suggest to you in an odd way that we might actually be rushing all of this. i am not sure we have studied this eno

host: richard rubin, we will continue to watch your work on the debate. we appreciate your time. back to your call on this promise by arthur c. brooks he says it is time to choose between a new culture war -- on one side, free enterprise, on the other side, and expanding paternalistic government. caller: i was hoping that you would give me as much time as the other callers. there was a collaboration study done by the university of cornell and oxford measuring political ideology. basically it plot of the ideology of all the parties in the world and toward the left you had very socialistic government like hugo chavez and what not that is extreme socialism. he found that both the democratic and republican party had some points to the right. republicans from all levels are placing the minds of millions of low-in information voters and calling for the failure of the president. so when he talked about socialization of the united states, you have to ask to dig deeper. do you care about social security? medicare? those are called socialist programs. now, these low-information voters choo

even though they were proposals, when they were issued, bob rubin and alan greenspan and arthur who had said he was wrong issued a statement saying congress should stop this woman. she is going to destroy the economy. six months later, congress stopped us. six months after that, they completely deregulated these instruments from all federal oversight and most state oversight. i told you this is nothing more than gaining. to get the market going, the statute's pre-emptive certain things. a state cannot say, this is nothing more than gambling. it is not license. it is outlawed in our state. without the provision, this market and this meltdown would have died and early death. . in 2008 we had the worst economic crisis since the great depression. this concept of 13 bankers, simon johnson johnson and james crock has written a book called "13 bankers" and the title comes from that conversation with larry summers but the real meeting where this played out is the april 21st, 1998 meeting in the conference room of the secretary of the treasury where rubin, somers, greenspan and levitt, in front

. -- rubin. can you hear me. hello, i'm gloria rubin.his is my morning voice. >> and this is my g.q. voice. [laughter] >> communication, the ability to talk to each other, not at each other. >> for almost 70 years after the invention of the morris code people around the global could only communicate use dots and dashes. >> but that changed in 19123 27 the first transatlantic phone conversation occurred. he said, lindbergh is on the way across the atlantic. tell him his bags will be there six hours late. [laughter] >> we actually have a piece from the actual first transatlantic phone conversation. [inaudible] >> well, i'm talking closely into my transmitter. [inaudible] >> i'm talking perhaps a little bit too closely. >> i see. >> and now i'm talking a little farther away from the transmitter and possibly my quality will be a little better. do you notice any difference now? >> wow! >> they all sound like they are at a yankee game. [laughter] >> after too many martinis. two men separated by an ocean hearing each other's voices for the firs

even though they were proposals, when they were issued, bob rubin and alan greenspan and arthur who had said he was wrong issued a statement saying congress should stop this woman. she is going to destroy the economy. six months later, congress stopped us. six months after that, they completely deregulated these instruments from all federal oversight and most state oversight. i told you this is nothing more than gaining. to get the market going, the statute's pre-emptive certain things. a state cannot say, this is nothing more than gambling. it is not license. it is outlawed in our state. without the provision, this market and this meltdown would have died and early death. . host: give our viewers are interested, there is a book called "economics of discretio destruction" and the author does not give his or her name. when the book came out, wall street went crazy. and your office was getting calls left and right that this was actually going to happen. guest: there were two famous incident that were going to happen, the first was that he got a call from larry summers and he said, i have

government, where he became secretary of the treasury, succeeding his mentor, bob rubin.ogether they steered the u.s. and global economies through dramatic crises and to rebuild in time of growth, low inflation, and culminating in a budget surplus. it is easy to stand 10 years on a look back in history to find a place where the crystal ball was hazy, but that was a golden time in public finance and economic management. after elections brought in a news administration, prof. summers became president summers of harvard university. he broad vision and direction for a great university in which he had grown up. with all the controversies surrounding that tenure, i have not heard anyone take issue with the insight and inspiration of what he thought education at a great university must becoming the 21st century. in the interest of full disclosure, i should say that i was a part of the group of former women colleagues of larry's, some distinguished leaders in their own right, wrote a block to dismiss firsthand knowledge the notion that larry underestimates the ability of women. i

even though they were proposals, when they were issued, bob rubin and alan greenspan and arthur who hadid he was wrong issued a statement saying congress should stop this woman. she is going to destroy the economy. six months later, congress stopped us. six months after that, they completely deregulated these instruments from all federal oversight and most state oversight. i told you this is nothing more than gaining. to get the market going, the statute's pre-emptive certain things. a state cannot say, this is nothing more than gambling. it is not license. it is outlawed in our state. without the provision, this market and this meltdown would have died and early death. . this person wrote that when that concept come out -- came out, wall street went crazy. he was getting calls left and right that this was actually going to happen. guest: there was too famous incidents that happened to reduce the first was to get a call from larry summers. he said, i have 30 bankers in my office now. this is 1990. we will have the worst economic crisis since world war ii. in 2008, we had the worst econo

simply the best mayor in new york has had in my lifetime and even in the much longer lifetime of bob rubin. [laughter] much of today's conference as you know has highlighted the relationship between education and employment and wages. i would like to point to his achievements relative to the new york city public school system. this is one of the most difficult challenges on earth. a has made remarkable progress. a healthy will talk a little bit about that today. he is one of the credits on japan to worst and chief executive officers in the firelight. there are very few symbols of american enterprise that is stronger than his company. thank you for being here today. the most skillful moderator charlie rose, i am sure many of the watch his show every night. if you do not, please leave now. [laughter] it is far and away the deepest and most serious show in the country. if you want to see a subject explored in rated debt, watched his show. he is very young, but he as interviewed everyone from alexander the great to george washington. he is moderated every important discussion since the constit

government where he became secretary of the treasury succeeding his mentor bob rubin. together they drove us through a golden time of growth, low inflation, and culminating in a budget surplus. in is easy to stand here 10 years on and find a place for the crystal ball was hazy. that was a golden time in public finance and economic management. after elections brought in a news administration, prof. summers became president summers at harvard. he broadvision and new direction for a great university. with all the controversy following that tenure, i have not heard anyone take issue with the insight inspiration of what he thought education at a great university must become in the 21st century. in the interest of full disclosure, i was a part of the group of the former women colleagues of larry's, distinguished leaders in their own right, who wrote a blog to dismiss the notion that larry underestimates the ability of women. indeed, his striking characteristic is to disentangle good ideas from their mothers and to harness the best ideas. back in the 1990 proxy, he started to

that is robert rubin. one of the smartist individuals i have ever met on the finance and the government's approach to finance. i don't agree with him on some things, but this man is brilliant. if leaders of these financial institutions have no idea regarding their systemic risk, what hope do regulators have? the truth is these financial institutions have become so large that regulators rely upon the banks and the markets to self-regulate. under the basil-2 capital accord, it became dependent on the judgments of rating agencies and increasingly the bank's own internal models. modeling is fine as long as the bank stands between bright lines which should be drawn by the congress. otherwise if regulators issue rules governing capital requirements that depend on the banks to use their own models to determine the capital licke liqy than it has no meaning. it has long had all the tools they need to increase capital and restrict banks that propose a risk to the safety or soundness of a bank holding company. but th

there we heard during the 1990's, led by people like alan greenspan, but also democrats like robert rubinthat is, the government has got to get out of wall street. let's get government out of the hands -- although wall street, let them do what they want to do, merge insurance companies with commercial and investment banks to create wealth for all the american people. michael, you remember that rhetoric? i thought that part. that is the laissez-faire rhetoric. the other is the unfettered free trade. you do not want the government regulating trade do you? if the company was to shut down and move to china, that will help everybody. was led by republicans, but had democratic support. i do not believe in that. i believe in a democratic and civilized society, government has a strong role to play. it is wrong to be the only country in the industrialized that cannot guarantee health care, but spends twice as much per capita on it. it is wrong to have unfettered free trade so that manufacturing goes down and loses millions of jobs, and you cannot buy job manufactured here. it was a disaster to d d

host: new mexico, rubin, republican mind. caller: hello, i have a couple of questions.ow did you arrive at the title "the promised"? and what is your take on the financial collapsthat we had -- housing specifically. i saw videotapes only on fox, of course, videotapes where barney frank and the democrats were basically bending the arms of the banks, bank representatives were there in front of congress and they were -- host: tell you what, let us get the answer to the first question and if this -- did was to expand in the previous answer. th te promise the tears of balkans office with a lotf promise and the american people were wondering if he would make good. in my epilogue i take readers through which of them hit the field and which he did not. i noticed in his acceptance speech at the democratic convention in 2008 in denver, he used the word promise 19 times in that speech, so my prologue is just a very, very short recap of that acceptance speech. all of that pointed to the title "the promise." i did not especially give him high marks on housing policy and preventing f

mare that new york has had in my lifetime and even in the much longer life time of a for example, bob rubin. much of today's conference so far has highlighted the relationship between education and employment and wages. pointing to the mayor's achievement relative to the school system, this is one of the most difficult challenges on earth. this is one that i know quite a bit of about. he has really made remarkable progress and i hope that the he will talk a bit about that today. he is also one of america's greatest chief executive officers in his prior life. there are very few symbols of american enterprise that are stronger than bloomberg, his company. the >> our moderator is charlie rose. this is the most serious show in the country. if you want to see a subject explored seriously, that is charlie. you can see that he is very young but he has interviewed everyone from alexander the great to george washington. i will now turn this over to him. >> thank you. thank you, roger. it is good to see all of you here. this is obviously an important subject and one on the minds of many many american

host: new mexico, rubin, republican mind. caller: hello, i have a couple of questions. how did you arrive at the title "the promised"? and what is your take on the financial collapse that we had -- housing specifically. i saw videotapes only on fox, of course, videotapes where barney frank and the democrats were basically bending the arms of the banks, bank representatives were there in front of congress and they were -- host: tell you what, let us get the answer to the first question and if this -- did was to expand in the previous answer. th te promise the tears of balkans office with a lot of promise and the american people were wondering if he would make good. in my epilogue i take readers through which of them hit the field and which he did not. i noticedn his acceptance speech at the democratic convention in 2008 in denver, he used the word promise 19 times in that speech, so myrologue is just a very, very short recap of that acceptance speech. all of that pointed to the title "the promise." did not especially give him high marks on housing policy and preventing f

host: new mexico, rubin, republican mind. caller: hello, i have a couple of questions. how did you arrive at the title "the promised"? and what is your take on the financial collapse that we had -- housing specifically. i saw videotapes only on fox, of course, videotapes where barney frank and the democrats were basically bending the arms of the banks, bank representatives were there in front of congress and they were -- host: tell you what, let us get the answer to the first question and if this -- did was to expand in the previous answer. th te promise the tears of balkans office with a lot of promise and the american people were wondering if he would make good. in my epilogue i take readers through which of them hit the field and which he did not. i noticed in his acceptance speech at the democratic convention in 2008 in denver, he used the word promise 19 times in that speech, so my prologue is just a very, very short recap of that acceptance speech. all of that pointed to the title "the promise." i did not especially give him high marks on housing policy and preven

government where he became the secretary of the treasury succeeding his mentor, bob rubin. together, they steer the u.s. and global economies through dramatic crises and into a golden period of growth, low inflation, and culminating in a budget surplus. it is easy to stand 10 years on and look back on history to find a place with a crystal ball was hazy. that is the gold period and finance and economic management. elections brought in a new administration and he became president of harvard university. he brought a vision and new direction for a great university in which he had grown up. with all the controversy surrounding that tenure, i have not heard anybody take issue with the insight and inspiration of what he thought education at a great university might become in the 21st century. in the interest of full disclosure, i was a part of the group of former women colleagues of larry's, some said bridget -- some distinguished leaders who wrote a blog to dismiss and acknowledge the notion that larry underestimates the ability of women. indeed, the striking characteristic is t

host: new mexico, rubin, republican mind. caller: hello, i have a couple of questions. how did you arrive at the title "the promised"? and what is your take on the financial collapse that we had -- housing specifically. i saw videotapes only on fox, of course, videotapes where barney frank and the democrats were basically bending the arms of the banks, bank representatives werehere in front of congress and they were -- host: tell you what, let us get the answer to the first question and if this -- did was to expand in the previous answer. th te promise the tears of balkans office with a lot of omise and the american people were wondering if he would make good. in my epilogue i take readers through which of them hit the field and which he did not. i noticed in his acceptance speech at the democratic convention in 2008 in denver, he used the word promise 19 times in that speech, so my prologue is just a very, very short recap of that acceptance speech. all of that pointed to the title "the promise." i did not especially give him high marks on housing policy and preventing