and sheila was the deputy. sheila pushed me out. [laughter] >> with a rake. >> tell us your story. >> i have to admit that i was a working in new york city at the time. -- as a nurse. and i had come to and from washington to help buy nursing issues. i got to know people on the finance committee. the senator dole decided, as the ranking republican on the health subcommittee on finance, along with the chairman of the subcommittee, he decided he was interested in having somebody on the staff who had taken care of patients. there was a physician who worked for senator along who was terrific -- senator long, who was terrific. senator dole said he wanted someone who understood the health care delivery system. i was recommended by the finance committee staff to interview with senator dole, who i did not know, having been born and raised in san francisco, a liberal democratic parentage. we interviewed. it was not what i expected in terms of the career trees. i said to the senator -- a career choice. i said to the senator, i am actually a de

on the panel, sheila burke, staff member. he had been staff member on the committee of finance and deptty staff from 1983 to 1985. she was the first women to hold the post of chief of staff for a majority leader. at tame she was known as the 101st senator in recognition of the latitude given to her in running the day-to-day operations of the senate. a native of san francisco, she learned the masters from harvard and bachelor of science from san francisco. she had deep wells in both knowledge and authority on issue of health care reform. from 1996 to 2000 she served as executive dean at the kennedy school of government and 2004 to 2007 chief operating officer of the planets greatest office at smithsonian. roderick, a senior leader. he served as deputy secretary of labor in the george h.w. bush administration. he also came up with the acronym tefra, for which people are still angry at him. our old friend has served senator dole in a number of goals from his graduation from ku in 1986 and 2000. those include intern, senior advis

[laughter] sheila bair is chairman of the fdic. mary shapiro, elizabeth warren it is great to have you here. i am honored to share the stage with you. i thought i would start by having you give us a sense of your day today. our first goal today is to talk about your role and where you are today. we would like to get a lot of feedback from everyone in the audience, on the twister, and in e-mail t-mailwiller -- on twitter and in e-mail. elisabeth, will you start. what is your day to day like? >> i am located still in the academic world. my goals consist of things -- my days consist of things like teaching, office hours and the like. in addition to that, i serve on the congressional oversight panel. we turn out a report every single month. it is like doing a term paper every 30 days, on some aspect of the t.a.r.p. program, how deeply -- how the money is being spent, and if we are accomplishing our goals. i also continue to talk about the economics of a middle-class families, which i have been doing for a long time now. i advocate for

he would always say while sheila have entering their recess. [laughter] on a more serious note, during the budget impasse, during the period of time during the clinton administration the government had been shut down for a period of time and we have been going back and forth with the house in terms of continuing resolutions. in an attempt to try and get the government back operating and to pass a sufficient amount of money for a short period of time to allow the government to operate. in the house was quite determined to essentially force the issue. and mr. gingrich was speaker of the time and armey and others essentially were posed to doing anything that would allow the government to go forward and wanted to shore to force the issue. and there was an important time in wisconsin something back and forth in the house once again indicated we would be willing to pass something. and senator dole came under the cloak room and said to me, you called armey on the phone and tell him the next time we're not going to stop it. these people have no idea wh

on the panel, sheila burke, staff member. he had been staff member on the committee of finance and deptty staff from 1983 to 1985. she was the first women to hold the post of chief of staff for a majority leader. at tame she was known as the 101st senator in recognition of the latitude given to her in running the day-to-day operations of the senate. a native of san francisco, she learned the masters from harvard and bachelor of science from san francisco. she had deep wells in both knowledge and authority on issue of health care reform. from 1996 to 2000 she served as

on the panel tonight, starting in the middle, sheila burke with the chief of staff from 99801996. prior to working for the senator she had been a staff member of the committee of finance, 1979 to '82 and deputy staff director of the committee from 1982 to 1985. she was the first woman to hold the chief of staff for a majority leader. at that time, she was often as the 101st senator in recognition of the latitude given her in running the day-to-day operation of the senate. a native of san francisco, ca durham a master's from harvard university and bachelor of science in nursing from the university of san francisco. as a durham fight health care practitioner, burke had deep wells of knowledge and authority on issues of health care reform. from 1996 to 2000 she served as

he's taken this big role, sheila, you described in the health care debate. he went to normandy with the president this past june. he took the lead on the world war ii memorial and got that dedicated. he was involved in the dole institutes -- >> you know, bill, the thing you talk about the world war ii museum, the things that makes his eyes light up is he goes and needs of veterans. they have these fly phthaleins where they raise money -- >> on our flights. >> that is what motivates him. he will go out on a saturday and meet the speed honor flights. he's at the hospital at the moment so he's not doing that. but if you talk with him that is what causes his eyes to light up. >> and i think he's done 60 of those flights, but then at the memorial and shake their hands. i had the pleasure of going with him to normandy this time as well as at the 50th anniversary, both of which were remarkable experiences. but i will never forget having gone to the 50th we walked into the amphitheater at normandy and waiting for the heads of state to arrive, and was largely obvious

there's no question that this is something sheila bair has proposed. the fdic wants to see a prefund. the treasury would like to see a postfund. they'd like to see it come after the fact. i want to digress for a second and say that i hope the reason that treasury wants a post-fund is not because in lieu of having a pre-fund of $50 billion from these large institutions, they want to see a bank tax. as a matter of fact, i'm going to be surprised if, after republicans argue against a pre-fund and it's changed and the administration comes back and chairman dodd comes back and we end up with post-funding, both of which do the same thing, i might add, and both of them work, it's going to be interesting to me to see if whether that argument basically has led to treasury then having the ability to come back and -- and do a bank tax. i think at the end of the day, that's something that they've

he would say sheila had them. on a more serious note, during the budget impasse during the period of time of the clinton administration, the government had been shut down for a period of time. and we had been going back and forth with the house in terms of continuing resolutions in an attempt to get the government back operating and to pass a sufficient amount of money for a short period of time to allow the government to operate. and the house was quite determined to essentially force the issue. and from gingrich, who was speaker at the time, and dick armey and others, essentially were opposed to doing anything that would allow the government to go forward and wanted to sort of force the issue. and there was a point in time where we were bouncing something back and forth and the house once again indicated that they would be unwilling to pass something. and senator dole came out of the cloakroom and said to me, you call dick armey on the phone. and tell him the next time we're not going to stop it. these people ha

geithner, mary shapiro, sheila bair, and others. >> good morning.my name is rosie rios , treasurer of the united states. thank you for joining us today for what will truly be an historic event, not just for treasury and the administration, but for generations of americans who will be -- will be inspired by today's activities. i would like to introduce the treasury secretary, timothy p. geithner. [applause] >> good morning. welcome to treasury. thank you for coming. rosie rios is treasurer of the united states. it is a cool title. it is much better than being secretary of the treasury, let me tell you that. i want to upset thank her for taking -- i want to thank her for bringing this remarkable group of women together. i read an article last week that asked the question of, "what if women ran on wall street?" i thought that was an excellent question, but kind of a local bar. -- a low bar. [laughter] today, three of the past four secretaries of state have and women. nancy pelosi is a strong female secretary -- the female speaker of the house. still, o

this bill could be used to bail out -- >> that's what sheila behr said. you have come in the kudlow direction. i'm pleased to hear it. >> if you clean it up, i'm happy. >> i know. but sheila said it's just to get the lights on. >> that's what we believe, too. >> senator mark warner told me in an interview two weeks ago that he thought the $50 billion could come down. i wonder if that's going to be a compromise or not. you're both very helpful. cam fine of the independent bankers, thank you so much. mark calabria. >> thank you. >> coming up, 25 reasons for a v-shaped bull market economic recovery. 25 reasons. both our guests share their investment strategy. 25, not five, not ten. 25 reasons. he's my kind of guy. v-shaped recovery. >>> we have been talking about financial regulation. we'll get to the stock market in a second. we have important breaking news. mr. john paulson of goldman sachs fame and cdo fame has had a conference call and he's trying to be on the offensive to reassure his investors that he is not going to take a negative consequences from t

please help me welcome sheila c. bair, rob dearment to the institute. >> things to all three of you for coming tonight. it's special to talk about senator tefra and his accomplishments as an individual. i would like to begin by asking each of you to tell how you came about working per for bob dole in the various roles you have in his office. let's start with you. >> i came to work for senator dole in '79 when the senator goes to the position of ranking member of the senate finance committee replacing paul curtis and dole as elevated and i think the senator wanted to give some young warriors to help staff that committee and through elizabeth elizabeth called one of her classmates at cal for ten and birling and the bald and myself worked at covington and birling and i think that bob recommended us and came over as the republican staff director and i came over as the deputy director. i think bob was particularly a litigator was interested in having somebody there who understood the tax law so that is one of the areas th

joining us this morning, ronald bell's brother, stacey, and sister-in-law sheila. difficult subject to discuss, but, stacey, let me start with you and ask you, you woke up that night or you were inside your home. tell me what you saw and heard. >> at first i woke up to the sounds of yelling in my driveway and i had my window open. i rolled out of high bed, looked out my window and saw my brother with his hands in the air asking what was going on. so i immediately got dressed, went done stairs to my door, looked out my window. and i saw an officer pointing a taser down it at the ground. looked out my other window and i saw my friend down on the ground and i proceeded to even up my door. >> we see you walking outside in the video. and what are you saying to the officer at this point, are you trying to understand what's happening? >> at first i saw the officer striking my brother and it was very shocking to me and i went outside and i was pleading with him to stop beating my brother. i was saying he's complying with your demands, i don't understand why you're beating

sheila dixon argued she did not have to report gives from one lipscomb because he did not meet a technical definition of the city's ethics code. the bill signed today clarified that language. >> the family of fire cadet rachel wilson is suing baltimore city for $35 million. wilson was killed in 2007 when a fire training exercise went horribly wrong. barry simms is live at city fire headquarters with details. >> baltimore city has already admitted mistakes were made, but now the family of rachel wilson wants the city to pay for those mistakes. february 2007, fire department trainees are sent into a vacant, burning house located in west baltimore. the drill turns into a disaster. 29-year-old rachel wilson dies of asphyxiation and severe burns. internal and independent investigations by major flaws in the training exercise and at least 50 violations of national safety standards. wilson's mother and her two children are suing the city for $35 million. the lawsuit is based on independent report findings. claims for federal civil rights were violated and she was deprived of life and liberty. the

he oversaw the prosecution of baltimore mayor sheila dixon. he says he will resign on september 1, the end of his term. >> police have a registered sex offender in custody after he allegedly tried to abduct a 15- year-old girl. the victim's father fly down an officer, alleging michael lee roy thomas tried to snatch his daughter who was luckily able to get away. it happened in southwest baltimore. police arrested thomas at his woodlawn home. he has been a registered sex offenders is 2005. >> baltimore city police have charged a man in the beating death of his two-year-old daughter. i-team reporter barry simms has details for us. >> he told police he was trying to discipline his daughter. he has now been charged in her death. we learned he has made other alleged threats of violence. >> the dogs remain in the backyard. apparently, they were not supposed to come in the house. now there owner is at central booking for what one of his neighbors called discipline gone bad. actions against his own daughter lead to child abuse and murder charges. >> he

i have the highest regard for sheila bair.t these were tense times, and people's blood pressure increases under situations like this, and sometimes we say things that we wish would not appear in print. >> what really, really strikes me throughout here is that we have a situation where we have two regulators, both clearly have a stake. you're the primary regulator, but it's clear that fdic has a significant interest. if this bank goes under again, their insurance fund is wiped out. so it's -- instead of supporting each other, instead of supporting with open arms, saying hey, let's proceed together on this, let's do this together, instet of try -- instead of trying to i've got your back, you've got my back, let's go after a common goal, it's back biting that i read in these e-mails. >> chairman levin, if the i may -- >> well, no, let me finish. >> okay. >> instead of kind of collaborating with fdic we've seen how ots collaborated with the people they're supposed to regulate. just collaborating all the way. working, working with

thank you for joining us before we get to anything, a special good morning to sheila from franklin squareovely lady. have a wonderful day, happy easter. >>> good morning to justin berk.

and sheila put on her journalist hat and graciously answered my questions.o i did a little work, but it was for the most part your output. these are his words and it's his story. >> is on the little tricky there. some of the interviews you have to do. >> they were a challenge, but you know, all in the name of good journalism. >> tell us about yourself, robin jones. >> i'm a journalist and gerald used to say i couldn't keep a job here today worked at several newspapers, including "the new york times" and the "boston globe," the detroit free press, magazines including "essence" magazine, developed a sense website, essence.com. select any number of things. i'm an author myself at no secrets, no life, how black families can heal from sexual abuse which came out in 2004. and now i'm an editor of my late husband but. and so i'm looking forward to doing more good journalism in the future. >> what should people know or remember about gerald boyd? >> i think they should come away from his story with the truth and of the depth of his other and of his humanity, that he

. >> yes, i would be interested in your observations, particularly sheila on his relationship with the other principal leaders of congress. i think probably jim, tom, and another were speakers. >> and tip. >> and byrd, and mitchell. how they differed. >> let me begin in the senate. he and senator byrd who was the democratic leader when senator dole was elected, had a remarkably close relationship. it would not appear obvious. they had very different backgrounds. ages, generations. what both recognized was the remarkable respect for the institution. they were able to talk with one another. senator byrd is a very formal person, felt strongly about the role of members as opposed to staff. senator dole was very respectful of senator byrd and his history in the senate. one made a mistake to think that senator byrd was anything other than remarkable master of the rules of the senate, because he was. their relationship to the point where senator byrd stepped down was quite positive. his relationship with mitchell who was much younger, very different, more aggressive and outspoken as a leader

it wasn't until the investigation and subsequent indictment of former baltimore city mayor cheel sheila dixon that his name and face became as popular as the person he was preparing to prosecutor. >> but really it never phased me. >> reporter: what did phase this veteran attorney is the gull that dixon showed during trial. as times more concerned about her fur coats tha than her futu. >> was i as towfnedded tha astot she wanted to talk about. >> reporter: during the interview i asked. >> reporter: boughrohrbough wht he thought dixon's downfall. >> pure greed. miss dixon has never explained to the public what that cash was doing in her bank account and where she got the cash. >> reporter: while some question the need for a state prosecutor, rohrbough is convinced it will always be important. >> we didn't spot corruption in this state. it has been going on since spear wagner. nothing is going to stop corruption, greed will always be there. it will just take a different form. >> reporter: in towson, joy lepola, fox 45 morning news. >>> a battle over dixon's pension would have cost taxpayer

sheila dixon left her to resign, he plans to retire to his second home which is in florida. >>> tonight students at frostburg state university plan to hold a university to remember brandon carol. >> he was shot and killed by another student over the weekend. more about this 21-year-old tyrone hall from glen burney and he told police two students came to his offcampus home at 4:00 sunday morning after what hall calls an assault of a woman at a party earlier that night. hall shot both men in the stomach with a 12-ganl shotgun. 20-year-old brandon carol was killed. friends have been commenting on the group of nearly 2,000 remembering and sharing memories of brandon. here's what some people are saying. i can't believe you're gone. too soon. i think about this all day and rest in peats writes another. you are a cool dude. the university will hold a candle light vigil. it's going to be a march at 8:30 tonight and the vigil begins at 9:00. >>> it is 6:51. average bishop william borders died yesterday morning at stella he died of colon cancer. he served as our average bishop from 1974 to 1989 a

and i think sheila bair, the chairman of the fdic told me that she is expecting a bill next week. and we will likely see this legislation come to fore by the summertime. so we'll see about that. professor edmund phelps, good to have you on the program. so appreciate you joining us. >>> up next on the "wall street journal report" one of the world's most recognizable entrepreneurs tells me his plan for going green. virgin founder sir richard branson is with us. he has environmental business to attend to. >>> then what your dishwasher says about the economy. how today's homeowners feel at home in a still-weakened market. >>> as we take a break, take a look at how the stock market ended the week. o's been saving y and who doesn't want value for their dollar? been true since the day i made my first dollar. where is that dollar? i got it out to show you... uhh... was it rather old and wrinkly? yeah, you saw it? umm fancy a crisp? geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> this week marked the 40th anniversary of earth day. since climate change ha

. >>> his corruption case against former mayor sheila dixon forced her to step down as baltimore mayor in february. now maryland state prosecutor announced he'll retire and is moving to florida. today robert rohrbach sat down with jeff hager and looked back at the case that brought her down. he says it was her former boyfriend, megadevelopper ronald lipscomb, who prompted the investigation. he denied giving her gifts but an investigator later tied one of her fur coats back to his company. as for why he agreed to offer the former mayor a plea agreement, he said he couldn't take the chance on the state's liberal courts upholding her conviction. >> at that point she would have only been a suspended mayor. she could have come back, reclaimed her position as mayor, then would have asked the city to repay her legal fees which people estimate to be $1 million to $2 million. >> reporter: he says the investigation uncovered $13,000 in cover cash in her bank account that she's never been able to quite explain. >>> maryland is the first state to decide that inmates should be residents of the juri

we had hank, we had been bernanke tim geithner and sheila bair, the head of the fdic. i have a lot of people in finance, and a lot of people in business and a lot of people the government, and i can't think of for people that would have done a better job of getting us through that. now it's kind of fashionable now to look back and pick out one of little aspect or another of what was happening, and our country's financial system froze up during that period. some of you in this room or at a party i was at in september of 2008 when the talk was are the money market fund safe? now, when you have 3.5 or more petroleum funds held by 30 million people, who on sunday and i are worrying about whether they can get their money, that money was half of all of the deposits held by the u.s. banks the time. you have a panic. you had commercial paper frees up an entirely and some of the biggest companies in the united states and some of them are described in this book they worry about whether they were going to meet their payroll in a short period of time to meet you at the sixth large

sheila bair chairman of the fdic. welcome. pleasure to have you in the studio. the president making a big push for it. critics say that compromises in that bill will make it difficult to execute in an emergency. it makes it ownerous. supporters of the bill say it ups capital requirements and increases transparency, but there have been some compromises that have people worried, which is it? >> well, we think overall it's a good bill. we think one area that we've been particularly focused on is the title two of the bill, which provides for an orderly way for the government to take over a large financial institution, if it is failing. and unwind it and break it up and sell it off in an orderly way without taxpayers having to take any exposure and imposing it on shareholders. this is a process the fdic long used for banks and it works well and it is a process the smaller institutions have to deal with and we think larger institutions should have to deal with the same type of robust process that imposes the losses on the shareholders and creditors. with this new reso

discussion whether or not to rescue them and to their credit the administration hoped i think by sheila bair the fdic decided to step back and let them sail. you cannot find the consequences of that failure today. they were bluffing. goldman sachs 800 billion is not bluffing. if you let them fail you have a problem. that is how the administration sees it and i agree. people say simon we have the resolution of 40 in the dodd bill supporters a qtr geithner. it will allow us to manage the contraction of the liquidation of mega banks when they get in trouble in the future with all due respect to people who work long and hard on capitol hill and i do have respect for them the resolution authority is a unicorn. a unicorp is a magical beast worth recuperative power. it's also a myth. check with your children if you don't believe me. if you call for a unicorn it doesn't come. the resolution authority cannot work because the resolution authority passed by congress would be a u.s. resolution of 40 would not apply to the cross border operation. citigroup does business in 100 countries. lehman brot

the administration whether to rescue them and to their credit the administration hoped i think by sheilabair, the fdic had it to the code stepped back and let them field. you cannot find the consequences of that in the data. they are bluffing. goldman sachs said 800 billion is not bluffing. if you let them fail would have a serious problem on their hands. at

the legislation is aimed at closing some of the loopholes involving sheila dixon. it will make it more independent by limiting the number of appointees. >> it will make a difference. people of our city and state demand more from the government and this new ethics board is a good example of us moving forward with transparency and ethical reform. >> the second part of the package clarify laws requiring city officials to report receiving gifts from anyone doing business with the city. >> there is a new plant to make the inner harbor clean up enough to swim and fish in. there is a new plant to clean up the toxins. it includes plans to attract fish. >> if we securities with a very durable grist and we put some media in between to make a sandwich, we can create a flotation device for creating artificial wetlands. " for more information on how you can get involved, we have some links on a website, wbaltv.com. >> interesting concept. there is good and bad news for residents with the budget proposal. there are no tax hikes or layoffs. there is more money for partnership gra

sheila smith, who is a senior fellow and has written extensively about the issues and on the peninsulacalled the americas and tractable problem, north korean. so looking to the chinese to be the balance, the balance i guess is the better word in that effort at negotiation which is now totally broken down, is that a miss place ambition on the part of u.s.? >> it is. i've talked to people who are actually involved in the negotiation process. and he said basically the chinese offer the milk and cookies and they don't do anything to push north korea to negotiate in earnest. and i understand that because as i said before, the chinese can have no more success in that endeavor than we can. the north koreans aren't stupid. they know just a disaster it would be for them to disarm. let's not forget just a much we're asking for north korea anyway. canada is not a warlike country, but if we were to say to the canadians, if you cut your military and half we were racial standard of living by 10% over the next 10 years. i think we can imagine they would say to us. and how much less likely it is that

i want to thank sheila bair from the federal deposit insurance corporation. her here having worked as legal counsel and being part of the bush administration. when she talks about our bill and says that she did today hear that there's absolutely -- this bill has been written specifically to end any notion of any kind of a bailout by the american taxpayer again -- i'll quote her again -- "it makes bailouts impossible and it should. we worked really hard to squeeze bailout language out of this bill. the construct is you can't bail out an individual institution. you just can't do it." end of quote. further, mr. president, our bill stops bailouts by imposing -- let me tell you how we do it -- tough new requirements on wall street firms. being too big and too interconnected will cost these firms dearly. and should that not be enough, our legislation, regulators can use the new powers in our legislation to break those firms up before they can take down the economy of our country. it stops bailouts by forcing firms to write their own funeral plans and to pay for the

prosecutor for the past six years and as you recall, oversaw the prosecution of baltimore city mayor sheila father is behind bars after admitting to beating his 2-year-old daughter to death. 22-year-old retired -- tyrellan hammer is charged with second- degree murder. police were called to his house for an unresponsive chiles on saturday she was beaten -- and unresponsive child on saturday. she was beaten to death by her father for allowing the dogs in the house. and they're asking for $1.5 million against a gasoline station on the route 140. they've found the shell company to be responsible for leaking into some area wells. the additive came from a neighboring junkyard where decomposing cars emitted the chemical and not the gas station. and the travel it a headache continues for european travelers. madrid has become a major hub. it is one of the few european countries unaffected by the ash. prices of rental cars are skyrocketing. >> this guys have done more than just frustrate air travelers. there also -- a the skies have done more than just for air travelers. there also costing the airlin

she told sheila bair told the american banker in an article published this morning mr. president and i quote, the status quo is bailouts, the status quo is bailouts. that's what we have now i go on to quote. if you don't do anything, she says, you're going to keep having bailouts, and of quote. and nothing is what we will have if members vote against to even come up for debate on the floor of the united states senate. sheila bair goes on to say it makes bailouts in this bill that will happen before this body it makes bailout's impossible and it showed. we worked hard to squeeze bailout language out of this bill. the construct is you can't be allowed an individual institution. you just can't do it. >> what the senat yield for a questioned? a first of all i just want to say thank you so much for taking to the floor to explain to the american people the very strange debate we hear coming from the republican leader on this. i was stunned because i had heard he had met with the wall street people and the banks and then he said over and over again the same phrase yesterday wh

. >> i'm sheila patterson and seeking a position as an executive or administrative assistant.a proven track record, facilitating large or small group meetings and developing employee -- i'm confident that my commitment to excellence and strong leadership abilities will motivate your team to provide the multiple experience, let's meet to discuss your needs. >>> hello, hello i'm a security professional. >>> our get back to workweek continues on this wednesday morning. author and a professional coach tells us how to keep the job search going, you say it's changed. >> it has changed tremendously. social media is a big part of the job search, we mean linked in which is a networking site, facebook and twitter. it's made a difference because about 80% of fortune 500 companies search for employees there it. >> you need to be found if your looking for a job, what does it mean? >> people are on the sites, the recruiters on the site. other candidates, it's important for people to be able to find you and so when you're putting your resume together and putting your profile together, you wa

this happens -- the model we're using here and one of the main advocates, sheila bair, the head of the fdic, she's the funeral director for failed banks and she's had the best experience. we have followed her, when a banks fails, you put it out of business. the point is that you don't just stop, you want somebody to wind it down. you have debts that are there not to the bank itself, but to make sure that other people aren't hurt. that's what this money goes for. as i said, there is one other issue that's very important where i'm prepared to send something to the senate on the question of reigning in derivatives. we did a pretty good job in the house. didn't go as far as we should have. we've seen how much trouble they can be. making them be open and traded and if the senate bill the tougher, i'll try to get my cloegs to go along. >> do you think blanche lincoln and the committee went too far? >> in one case, they didn't go far enough. i think they give too much of an exception in one area. i think the way it's worded, there are smaller financial institutions that have a legitimate need

i want to thank sheila bair from the federal deposit insurance corporation.e know her here having worked as legal counsel and being part of the bush administration. when she talks about our bill and says that she did today hear that there's absolutely -- this bill has been written specifically to end any notion of any kind of a bailout by the american taxpayer again -- i'll quote her again -- "it makes bailouts impossible and it should. we worked really hard to squeeze bailout language out of this bill. the construct is you can't bail out an individual institution. you just can't do it." end of quote. further, mr. president, our bill stops bailouts by imposing -- let me tell you how we do it -- tough new requirements on wall street firms. being too big and too interconnected will cost these firms dearly. and should that not be enough, our legislation, regulators can use the new powers in our legislation to break those firms up before they can take down the economy of our country. it stops bailouts by forcing firms to write their own funeral plans and to pay f

i want to thank sheila bair from the federal deposit insurance corporation. we know her here having worked as legal counsel and being part of the bush administration. when she talks about our bill and says that she did today hear that there's absolutely -- this bill has been written specifically to end any notion of any kind of a bailout by the american taxpayer again -- i'll quote her again -- "it makes bailouts impossible and it should. we worked really hard to squeeze bailout language out of this bill. the construct is you can't bail out an individual institution. you just can't do it." end of quote. further, mr. president, our bill stops bailouts by imposing -- let me tell you how we do it -- tough new requirements on wall street firms. being too big and too interconnected will cost these firms dearly. and should that not be enough, our legislation, regulators can use the new powers in our legislation to break those firms up before they can take down the economy of our country. it stops bailouts by forcing firms to write their own funeral plans and to pay

sheila jackson lee caught on tape using her cell phone while being asked a question at a town hall. miller is the woman who asked the congresswoman that question. earlier she won't on the record. nice to have you back on the show. >> thanks for having me back. >> greta: the last time we spoke was the -- the health care bill had not been passed. it is now law. have you changed your view? i know you were posed before. have you changed your view in the last five or six weeks? >> no, i haven't changed my view. it has just become more solidified that i'm posed to what is now a new law. >> greta: why are you posed and what are you going to do about it -- why are you opposed to it and what are you going to do about it, if anything? >> as i mentioned before it affects me as my own health care. i believe that the doctor and patient should be making decisions about the health care choices and consumers should be making their own health care insurance choices and not corrupt politicians in d.c.. i believe this is medical malpractice since the government is inserting itself and they don't have

and sheila bair, chair of the federal deposit insurance corporation, said her agency did all it could. battle lines have hardened on a bill to reform financial regulation. president obama called again today for reining in "derivatives". they include the mortgage-backed securities that triggered the housing market collapse. the president said, "i will veto legislation that does not bring the derivatives market under control." the senate could take up the bill next week, but all 41 senate republicans announced today they will oppose it. nearly all u.s. hospitals will have to give same-sex couples greater rights on visitation and medical decisions. the president issued the order last night. it will end policies that sometimes bar gays and lesbians from visiting their ailing partners or consulting on treatment. all hospitals accepting medicare and medicaid patients are affected. senate republicans and democrats went at it today over a federal court nominee who's become a lightning rod. newshour congressional correspondent kwame holman has the story. >> holman: the focus at the senate judi

there's no question that this is something sheila bair has proposed.the fdic wants to see a prefund. the treasury would like to see a postfund. they'd like to see it come after the fact. i want to digress for a second and say that i hope the reason that treasury wants a post-fund is not because in lieu of having a pre-fund of $50 billion from these large institutions, they want to see a bank tax. as a matter of fact, i'm going to be surprised if, after republicans argue against a pre-fund and it's changed and the administration comes back and chairman dodd comes back and we end up with post-funding, both of which do the same thing, i might add, and both of them work, it's going to be interesting to me to see if whether that argument basically has led to treasury then having the ability to come back and -- and do a bank tax. i think at the end of the day, that's something that they've been wanting to achieve, and it's interesting how this debate is evolving. but -- but let me go back to this -- let me go back to this pre-fund. at the end of the day, i t

. >> we had sheila bair who went through the process of fdic closing down banks and selling thes a socie assets and positiv to bidders like yourself, and why if they are closing down the bank, are those assets attractive to you? >> well, in the case here, we actually are a bank that has planned on doing transactions with the fdic since 1993. the reality is that this transaction is a franchise that has the ability to grow its deposit base. the assets that we have are $6 billion in one to four-family covered assets, meaning covered by the fdic. the other assets, the ore, and the cie loans and commercial loans went with the fdic, and they are going to be sold in a separate transaction, so in this transaction, we have actually created a better and bigger bank. the combined bank is actually more highly capitalized because we issued $1 billion in stock and additional liquidity, because we have $3 billion in cash to keep in reserve and a much larger ratio of deposits to assets as well as significant greater likelihood of expanded earnings. so, in all respects, this transaction is very good. >>

our final panel this afternoon, sheila bair, chairman of the federal deposit insurance corporation, johnbowman, acting director of the office of thrift supervision. we are grateful not just for your being with us today. but for your voluntary or involuntary patience. i think you both know what our rules are so under rule 6, our witnesses -- all of them are sworn in so we would ask to you please stand, raise your right hand. do you solemnly swear that the testimony you're about to give to this subcommittee will be the truth, the whole truth and nothing but the truth so help you god? ms. bair, why don't we ask you to go first. >> chairman levin, i appreciate the opportunity to testify regarding the role of regulators in their supervision of washington mutual bank or wamu. the fdic shares the subcommittee's concerns about issues associated with the primary regulation of large and complex insured deposit other institutions that pose significant risk to the deposit insurance fund and the fdic's role as backup supervisor. to assist the fdic in carrying out its deposit insurance responsibilitie

a good republican like sheila bare who heads the fdic appointed bob dole's legal counsel, been at the fdic, a bush appointee. she says it better than everybody. this bill ends too big to fail. nothing could be clearer and my republican friends know that. >> did it take catastrophe or near-catastrophe to get this through the heads of yourself and the other democrats, so that you at least, your party, could at least get it right? it looks like one party's got it right. some members of the other party may be getting it right. you're still hoping to get five or ten republicans to join you? >> the door is still open, chris. i've worked for a year at this my republicans on the committee know that i've reached out, i have signed republicans to work with democrats. on major parts of this bill dealing with the exotic instruments, the consumer issues, as well as the issue of too big to fail in resolution. all of this has been very well worked on. i introduced a bill in november. we changed it. we worked at it. so 24 notion, this is partisan bill, that still allows too big to fail, it's anything

president of the national press club, she let casey of the hill, the foundation's treasurer -- if sheila casey of the hill, and are under it -- our other honored speaker tonight. jonathan alan of politico, are other co-chair -- our other cochair, joe scarborough, the host of "morning shojoe," the ct of the show, and a member of the senate republican and greeted the coast -- the cohoast, and a member of the seventh republican team. please have one round of applause. [applause] a special debt of gratitude to our cochairs end to our executive director, the tireless suzanne. i also want to thank the sponsors who made the work of the foundation possible and help with this dinner tonight. the following -- the boeing company, the hill, roll call group, ford motor co., aarp, public relations, honeywell, the u.s. chamber of congress and its affiliates, the devlin y. david -- evelyn y. davis foundation. many thanks to kevin for providing the cover art for our program tonight, and of course the mandarin hotel and their great staff, who have accommodated our needs and are serving you tonight. more t

there's no question that this is something sheila bair has proposed. the fdic wants to see a prefund. the treasury would like to see a postfund. they'd like to see it come after the fact. i want to digress for a second and say that i hope the reason that treasury wants a post-fund is not because in lieu of having a pre-fund of $50 billion from these large institutions, they want to see a bank tax. as a matter of fact, i'm going to be surprised if, after republicans argue against a pre-fund and it's changed and the administration comes back and chairman dodd comes back and we end up with post-funding, both of which do the same thing, i might add, and both of them work, it's going to be interesting to me to see if whether that argument basically has led to treasury then having the ability to come back and -- and do a bank tax. i think at the end of the day, that's something that they've been wanting to achieve, and it's interesting how this debate is evolving. but -- but let me go back to this -- let me go back to this pre-fund. at the end of the day, i

and to their credit the administration helped i think by sheila bair and the fdic decide to step back and let them fail. you cannot find that failure in the day. they were bluffing. goldman sachs at 800 billion is not bluffing. if you let them tell you have a very safe problem on your hand. that's certainly how the administration sees it, and i agree with them. people say, well, simon, we have the revolutionary a 40. in dog bill. revolution other is requested by secretary geithner, support the white house. this will allow us to take over and managed the failure and contraction, liquidation, of megabanks when they get in trouble in the future. well, with all due respect, to people who work long and hard on capitol hill, and i do have a great deal of respect for many of them, the resolution will authority is a unicorn. unicorn is a magical beast with fantastic recuperative powers. it is also a myth. check with your children if you don't believe me. they will tell you. if you call for unicorn, it doesn't come. there are no unicorns that the revolutionary authority cannot work because the

we have got congresswoman sheila jackson-lee from texas visiting us.plause] >> a big supporter of the space program. my director office of signs and technology policy, my chief science advisor, john holdren is here. and most of all i want to acknowledge your congresswoman suzanne cosmos. every time i meet with her, including the flight down here, she remind me of how important our nasa programs are and how important this facility is. she is fighting for every single one of you and for her district and for the jobs in her district. you should know that you have got a great champion in congresswoman cosmos. please give her a rowrched applause. [applause] >> i also want to thank everybody for participating in today's conference. >> here at the kennedy space center we're surrounded by monuments and milestones of those contributions. it was from here nasa launched mercury, gemini and apollo and shuttle discovery, piloted by charlie bolton, carried the hubble telescope into orbit. in my private office just off the oval, i've got the picture of jupiter from t