senator menendez and saxby chambliss from georgia. let me speak with you. i spoke with democrats last night, a couple of them said to me, we don't want immigration to come out. is it this particular issue that's helpful to me in my district or in my state? are you onboard with this changeover? >> well, first of all, candy, harry reid said we're going to get to both issues in this session. >> is that possible, senator? >> i think it is, and he noted more work had been done on climate change than on immigration. which ever is going to come up will likely come up after we get to wall street reform important to this country and to taxpayers. >> if you look and see the pictures out of arizona and listen to the governor, what you do know is it's an urgent issue. why not take it up now. >> it's a peculiar issue to arizona that has not taken place in many other states, border states and unique problems when it comes to immigration. we have an illegal alien problem here in georgia but peals in comparison of what's going on out there. we have the issue called state's

host: senator saxby chambliss, republican of georgia, welcome. senate agriculture committee takes up legislation to regulate derivatives. break it down for us. a lot of talk -- talk over the last is what derivatives are. guest: a derivative is a documents -- or it could be a phone call -- entered into between two usually entities. it could be people, but the most common derivative individuals can probably identify with is a company that is borrowing moneyç are -- for the long term and they want to hedge their bets. they want to make sure that they are going to have a flat line or stable interest rates. so they will enter into a transaction with another party to ensure that the long term interest rate that is going to be applicable to that company to invest not move, but that it does provide the company's stability. and energy company may enter into a long-term contract for the purchase of natural gas or some other product, and they may enter into a derivative transaction with another party to ensure the stability of that price so they can ensure

chris dodd and richard shelby of the banking committee as well as senator blanche lincoln and saxby chamblissf the agricultural committee. while the democrats aligned the measures the republicans address their concerns including derivatives regulation and consumer protection the debate with a message for those who've seen the acrimony in the chamber over the past couple of weeks and include that this senate is enough to getting the job done on a piece of legislation on this importance and of this size and i will be the first to admit sometimes we become discouraged and disappointed with each other. it's the nature i suppose of the legislative body where you have as different views and strongly held views as we have. i myself was frustrated of course by how long it took to bring the bill up to the floor and others are frustrated by what they see in the bill. all of this can have a rationale so while we can express our frustrations. but the thing that gets to this point is to be about to get to the finish line on this important legislation as well. and that is the trust that we have each commit

i know we'll be able to do that because there's a guy named sacks by chambliss -- saxby chambliss that will help us do that. mr. warner: i have 11 unanimous consent requests for committees to meet during the day, i ask unanimous consent that these requests be agreed to and these requests be printed in the record. the presiding officer: without objection, so ordered. mr. warner: mr. president, i appreciate the opportunity to follow the chair and the ranking member of the banking committee and the chair and ranking member of the agriculture committee on this critically important debate. i want to commend their work, the great amount of work that has been done actually in a bipartisan way already on this important piece of legislation. there are differences, but there is an awful lot of work to go into this product that can be aired on the floor of the senate. i want to pay particular compliments to my dear friend, someone i had an opportunity to work for close to 30 years ago, the chairman of the banking committee, who, while i'm a new guy in the senate, it seems to me on this bill has k

i'm joined now by one of those republicans, senator saxby chambliss of georgia, who has been voting against-- for people who aren't following that, senator, thank you for joining me, by the way. >> sure. >> that's a tough one. why are you voting against reform? i'm voting against proceeding with a bill that's fundamentally flawed, ali, that will not address the real causes of what caused the collapse in 2008. for example, two of the main players in the 2008 collapse were freddie mac and fannie mae. >> right. >> this bill does nothing to try to bring fannie mae and freddie mac under control. and the housing boom that we saw was -- was largely fueled by -- by those two entities providing the funding and buying mortgages and whatnot and when the bubble burst, they came collapsing down, and we saw the federal government have to put $121 billion into those two entities and there's nothing in these legislation that deals with them. all of us want to control wall street. there has been a lot of greed on wall street, and we've seen time and time again that people are angry for the right reasons abo

[cheering] and, in fact, i agree with saxby chambliss, the entire internal revenue code has got to goor's coin to the old testament, they are good people but there are so good people they can make money -- make money in the private sector making something that's value. [cheering] and now what we have seen happen is this administration, i will take you back to this approved by the president, some say it actually started before president obama was elected, but as a senator and a candidate he approved of all of this and this is what happened. $700 billion in tarp spending with a blank check no condition, that needed to be a big no-no quote and i voted no. [cheering] with and then they said about the government takeover of eight huge national entities, three large investment banks, and aig to the tune of $180 billion. fannie mae and freddie mac to the tune -- $5.5 trillion in contingent liabilities with danny and freddie and still some people in this country thought the post and the white house knew there during until they came to mess with our car companies. we know cars, we love them an

on "state of the union," saxby chambliss and robert menendez. listen to all five talk shows startnig at noon eastern on c- span radio, nationwide on xm satellite radio, channel 132. follow us on facebook and twitter. >> one thing i want to say is the solution has to come from the bottom up. the government can't be in the position of telling people to do things in their homes. that doesn't work. it will require all of us working together. the government, business leaders, students, everyone has to come together. when we think about the federal government when it comes to school lunches, the child lunch reauthorization act is one way the government supports, and we hope to get more money put into implementing that act so we change the food you get in your lunches, that the quality of food goes up, because a large percentage of kids in the country are getting half of their meals at school. >> matthew, you chose an issue important to michelle obama and got to ans -- ask her a question. what was that like? >> it was neat. i'm glad we got to talk abou

saxby chambliss, very, very smart guy, republican. blanche lincoln, just a very intelligent woman. she is the chair of the ag committee, he is the ranking member. they were working through the complex derivatives language and coming up with something i thought was good policy. on friday, the word i got was that they had shook hands and an agreement was reached. but by the end of the weekend, she was pulled off of that. now the river is built that she is proposing -- no one could agree to it. -- now the bill that she is proposing, no one could agree to it. it is just terrible. host: explain why. >guest: it basically eliminates the opportunities to work with the risk that they are opposed to in the marketplace. it just basically says to major financial institutions, you will not be able to trade in derivatives. it is so onerous, i cannot even believe that it would be proposed. the bottom line is, those companies will find a place where they can deal with risk in the economy. it may not be the united states, it may be another country. they can easily trade derivatives in a number of o

[cheering] and, in fact, i agree with saxby chambliss, the entire internal revenue code has got to gos coin to the old testament, they are good people but there are so good people they can make money -- make money in the private sector making something that's value. [cheering] and now what we have seen happen is this administration, i will take you back to this approved by the president, some say it actually started before president obama was elected, but as a senator and a candidate he approved of all of this and this is what happened. $700 billion in tarp spending with a blank check no condition, that needed to be a big no-no quote and i voted no. [cheering] with and then they said about the government takeover of eight huge national entities, three large investment banks, and aig to the tune of $180 billion. fannie mae and freddie mac to the tune -- $5.5 trillion in contingent liabilities with danny and freddie and still some people in this country thought the post and the white house knew there during until they came to mess with our car companies. we know cars, we love them and b

i know saxby chambliss and blanche lincoln have worked heavily on it. i think we're going to get that right. so, mr. president, at the end of the day, i think we know the issue that -- that probably is going to divide this group if we don't work it out. i'm talking about this senate body. and that is the consumer protection piece. and, look, i -- i want to see consumer protection take place. i do. i know the senator from connecticut knows i was serious about trying to resolve that issue in march. it's my hope that we can come to terms on that. it's my hope that we can create a balance, an appropriate balance, so that the consumer protection piece is in balance with prudential regulation and for people who don't do this on a daily basis, these people that make sure that our banking system is safe and sound, that our financial institutions aren't at risk because of what -- of rules and those kinds of things. hopefully we can get that in balance. i don't know if the senator from connecticut wishes to -- to speak to this, but that's the one issue that i kno

. >> thank you [inaudible conversations] [inaudible conversations] >> this morning, saxby chambliss will talk about agriculture the lip -- derivatives, and the regulations to regulate them that the committee is considering. and the director of the national parks service on the state of the national parks. and then, a look at what is ahead in iraq and afghanistan with the former ambassador. this is every morning at 7:00 eastern. later, kathleen sebelius will talk about the budget requests of her apartment, including an insistence on medicaid assistance for the states. live coverage on c-span 3. >> on tuesday, nick clegg, leader of the liberal democrats, spoke to reporters. the liberal democrats were in second place behind the conservatives and ahead of the labor party of gordon brown. they are crediting this to his performance in the first debate last thursday. >> ladies and gentlemen, i would like to warmly welcome this afternoon nick clegg. he is the leader of the liberal democracy party. and he is the man who has become, according to the british media, more famous than -- and the briti

[cheering] and, in fact, i agree with saxby chambliss, the entire internal revenue code has got to gore hired to do, the boys had tax collector's coin to the old testament, they are good people but there are so good people they can make money -- make money in the private sector making something that's value. [cheering] and now what we have seen happen is this administration, i will take you back to this approved by the president, some say it actually started before president obama was elected, but as a senator and a candidate he approved of all of this and this is what happened. $700 billion in tarp spending with a blank check no condition, that needed to be a big no-no quote and i voted no. [cheering] with and then they said about the government takeover of eight huge national entities, three large investment banks, and aig to the tune of $180 billion. fannie mae and freddie mac to the tune -- $5.5 trillion in contingent liabilities with danny and freddie and still some people in this country thought the post and the white house knew there during until they came to mess with our car