guest: democrats line, san mateo, california. host-- host: democrats line, san mateo, california. caller: i think the testing may be adequate, but the time span is not long enough. my question is there is a lot of labeling on the products when they reach the consumer. i do not read much about adding animal parts to foods that are fit to cows for example. does your group have any interest in that topic? guest:gmo's testing, there is no way to test it for 50 or 60 years. that is what you really need to see if there are any differences. you can with animal studies to see what the effect are. you can do chemical or nutritional testing, then we do not see any difference. the basic ingredients, high fructose corn syrup, all of the genetically engineered proteins are removed. there is nothing genetically engineered in these ingredients. the difference between these and non genetically engineered foods. we need to put this problem in perspective. the issue of treating animal parts to cattle, we have not got involved in that. there are concerns some vegetarians with certain religious belie

$50 billion, the $150 billion fund in an orderly way to provide more to the general creditors in san mateocounty than the carcass of lehman brothers would provide? >> you are a very thoughtful critic, and i respect your views on this, so let me describe the basic idea underpinning the bill that passed the house and is still in the senate. the idea is to take a model that has existed for more than three decades for small banks. we have a lot of experience with that model over many recessions and many financial crises. >> could you just answer my question of what you would do with lehman brothers? >> and going to get to your question. your question is an excellent question. with the authority, the government would have been able to come in, put lehman in receivership to wipe out of policyholders, to replace management in support, and manage the institution in a way that maximizes returns to the tax payer and minimizes the losses to the system. >> mr. secretary, how much money would you need? >> it is an unanswerable question. you cannot know in advance. >> tens of billions. >> the gentleman'

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in san mateo county, $100 million just gone. even though it was prudently invested in investment-grade investments in lehman's. many developments that were supposed to take place didn't happen. it was interesting today because mr. fold, the former c.e.o., said lehman brothers was risk averse, ironic when a company had $20 billion or $30 billion that basically just evaporated overnight. i think it's important as we discuss this issue to take us back to how did we get to where we are today? how did we get to a place where everything came crashing down, and i'd like to just point to the cracks in wall street which i think explain really well, if i get it right side up, what actually happened. if you recall, this was before our time, certainly, but in the 1930's, the glas-see gell act was passed by -- the glas- steigel act was passed, it said never again is this going to happen because we're going to keep the banks, insurance companies and firms all separate. there's going to be a wall to separate them that worked perfectly for almo

outside of lehman brothers to take care, in an orderly way, of the counterparties, say, the county of san mateo, which put money in, seems relatively blameless? would you tell them, we will sell off the assets and help to give you a few assets on the dollar -- 2 cents on the dollar? or would you use the tools of these bills to go into the borrower of funds in order to provide more to the general creditors than the carcass of lehman brothers would provide? >> yhuri throughtful credit. i respect your views. let me describe it -- you are a throughtful critic. the idea is to take a model that existed for more than three decades for small banks. we have a lot of experience with that model over many recessions, many financial crises. that model allows the government to comment. >> i have limited time. could you answer my question of what you would do with lehman brothers? >> i want to get your question. with this authority we are proposing, the government would have been able to come in, but lehman brothers into receivership, replace management and the board, and manage that institutions on winding t