>> singapore has specifics. it does have a two-party elections and in fact it has i think in the last election the opposition gained between 30 or 40% of the vote although i think it only gained two or three out of 70 and that is because the particular electoral procedures taking place. china i was struck by the extent to which is a question that often comes with democratization particular muslim states as well how the middle class's, the people with power and with aspirations saw a danger in the disbursement of political power to one person, one vote because it would produce unintended consequences and that has been in washington policy the great debate over the last 20 or 30 years to spread space values or do you spread democracy itself which are not necessarily the same thing and is a democracy with the behavior of a society more in the line with those of the space states conform to and if you give universal votes you do not necessarily produce the outcome and i say that new trial. i do not say that from advo

philippines, singapore.hilippines, singapore. there is a remarkable difference in the quality, customer service between airlines such as singapore air and domestic airlines like united, which i had the experience of flying back from singapore. how does your guest explain the ability of these foreign airlines to provide such better customer service? thank you. guest: good question. i agree with you about singapore air. it is voted in the favored airline of international travelers. asians have a different culture. they have a different view of service. there is a different relationship between men and women over there. host: if you happen to go to singapore. if you want a flight from new york to paris, singapore airlines will not be able to help you out. guest: you'll be able to connect through one of their places precautio. caller: good morning. i am curious about this merger. united and continental -- one operates in the northeastern quarter. why not trade routes for these international markets? have contine

but firms also listed american energy commodity derivatives in yodubai and singapore and opened their electronic platforms to american traders. this new electronically traded marketplace allows american traders, simply put, to evade american market oversight and speculation limits. the practical implication of this is that united states traders can use offshore electronic exchanges to artificially drive up prices of united states commodities without any consequences from our nation's market regulators. this is a big problem. a 2008 cftc report found that traders using this london exchange to trade u.s. crude oil futures held positions far larger than would be allowed by american regulators. in fact, from 2006 to 2008, at least one trader position exceeded united states speculation limits every single week on the london exchange, and british regulators have done nothing about it. the good news is that some steps have been taken administratively to address this loophole. in 2008, the commodities futures trading commission negotiated an agreement with british regulators to bring greater

>>reporter: and it's not confined to muslim countries, with places such as london and singapore also actively promoting islamic financial services. >>the islamic bank of britain was the first in europe to be fully sharia compliant. >>pasha: our growth rate has been quite phenomenal, from a zero start we have nearly 50 thousand customers in the uk, some of these customers come from all types of backgrounds, in fact our very first customer when we opened the bank was a non muslim customer. >>reporter: it's those high growth rates that present serious opportunities, especially for countries in central asia like kazakhstan well positioned to provide a home for the oil wealth of the gulf. >>massimov: first bank in kazakhstan called el halal bank and we introduced a new law about islamicfinance and we're going to expand it and we start up negotiations with a number of countries from the region from saudi arabia, from bahrain and from some others to attract more investment over here.i personally view islamic finance is a good source for the development not only for kazakhstan but for the wh

>> las vegas sands, hot stock, casinos in singapore and beth le mem, pennsylvania and -- bethlehem, pennsylvaniaearnings of projected growth. >> david: kim? >> i think the regulatory commission is considering new rules and regulations for casinos and they're possibly considering new taxes from the federal government. the s&p has an accelerating on this company, so i would say no, don't buy it. >> david: you're saying yes to warnico, a sportswear company. why? >> yes, they sell bras, underwear and under the calvin klein brand. more conservative than what the miss usa contestants would wear but the company had a blow-out quarter. bullish forecast. if you look at the three-year chart, this is the time they see the gains -- >> david: quickly, do you like it or not? >> hell, no. they don't pay a dividedividend. >> david: you like arm & hammer or the company that makes them, church and dwight. why? >> they have the sexiest brand in town, trojan, including the trojan essential massager. >> david: vicky? >> no. too expensive. >> david: what do you like? >> i like energizer and they make stick razors. wh

and the tamil tigers of singapore, korea, taiwan, they have modernized even faster than japan. and they all did with highly directed elite. one of the things that all those countries did, too, is that they had agricultural form. bake at the land at the hands of passive land owners, put it in the hands of farmers, poured that money into education, and bought off in the critics, because the farmers were doing for a while. and then those leaders knew what they had to do to connect with in this case the emerging roles of consumer electronics and information technology. >> you describe for reprinted works in year or three the wealth of nations, common sense, and the declaration of independence. tell us about adam smith and the wealth of nations. >> it is the central analysis and synthesis of capitalism in 1776, he was a scotsman and there was a lot going on in scotland at the time. he had the capacity on mass separate facts and bring them into an organized story of a free economy. he did not call capitalism. he explained how capitalism emerged with a long accumulation of capital, an

why do they have very little crime in singapore? why did the crime in australia when the guns were taken back and zwrout laws, the outback area and the rural areas, the crime went up? explain to me why there is very little crime in singapore. caller: singapore is a very different kind of country. the population is different. in terms of demographics, economic situation is different. and indeed, it is a fairly oppressive legal system. i'm not sure in america we're ready for that. i certainly wouldn't want it. crime unfortunately is one of the prices that we pay for our freedoms. and i think many americans, perhaps most americans, would not like to see a shift in the way that our country is operated particularly in terms of the criminal justice system. where we cane people and punish people. in draconian ways for relatively low-level offending. host: the united kingdom has increased security. they have cameras all over their streets in places like london but there has been a bit of a pushback now with the new administration coming int

you've heard nothing out of the european exchange, you've heard nothing out of the singapore change. why? they're listening to what we're doing. they're going to solicit customers today to go to their exchanges -- our constituents are not going have to pay these huge fees on those exchanges that are required under this bill. it only makes sense that if they can generate more money for their bottom line and they can sit in their office in new york city, atlanta, georgia, or multree georgia and execute a contract on the singapore exchange where they don't have to pay that fee, you better believe where they're going to go. they don't have more risk. it's the same amount of risk. and is the s.e.c. or the cftc going to know they've done that? absolutely not. it will not be reported to them. well, i could go on and on, mr. president, but at the end of the day if you want to see 100% transparency and you want to see the end users in this business who utilized these swaps and derivatives in a nonsystemicly risky way, then you need to support my amendment. if you listen to the manufactures ac

well, if you're going to impact chinese growth, you're going to impact taiwan and singapore and south korea and all the other asian nations that export to the chinese that then export to europe and the u.s. so we are all together on this. >> bottom line as far as -- because you talked about buying the umbrella after it started raining. if you bought the umbrella, so to speak, for china, has it started raining yet? can you go into this market and perhaps short it in anticipation of a greater fall because of the interconnectivity of our economies? >> china's stock market, the shanghai index-s now down 18% from its 2009 high. it's down 13 1/2% year to date. i do think there's going to be more down side. but in buying on dips, which people still like to do, asia's the only part of the world right now that i'm comfortable buying on dips. the u.s. economy, still fragile, still dependent on global growth, still dependent on a lot of government stimulus that is going away. to me organically asia still has the best growth. but a slowdown is going to impact their markets and ours. >> hey, beaks

including singapore, all of the middle east and a large swath of waerging economies as well. lars and so i think that it's appropriate to have a conversation about equity, about per capita emissions, aboutout income levels and about what ann appropriate allocation of responsibility is. but that has to be aibility is. conversation that's based on be more than everybody who's stuck in that annex one treaty that we in signed in 1992 gets to take action, and everybody who's not has no obligations. take there has to be a gradient beyond that. >> yeah. i think that's exactly right. again, the basic point is not only well taken, it's incorporated into everything that people are talking about right now. the united states has gone on record at the copenhagen accords of saying it's going to cut itsc emissions by 80 %.80%. everybody accepts that chinesetf emissions will continue to grow because their per capita b emissions are going to continue to rise as they rise.ontinue but per capita emissions as theo only standard is a troubled standard for a couple differenty standard i right now,

it's time now to have a look at the asian markets with adam in singapore. >> thank you very much, stephaneit was a fairly negative session in the asian trading session here today. having said that, we did see a huge amount of volatility, particularly in shanghai with that market recovered to being down by close to 2%. we had bargain hunting going on in the banking stocks and the property stocks. that had been hit hard the previous day on concerns about tightening, both in those two sectors. but it was a bit down the middle in terms of reaction. we take a look at the mainland banks listed in hong kong. and one of the other biggest losers on the hang seng is esten. we did see weakness in the euro. that's a problem for e dd sprit. the real problem is what is going to happen on the economy if the notes continue to spread back to greece? >> we had pmi today relatively good from a services sector, revised up. still to come, chancellor angela merkel is dchding the bailout today of greece, but says stricter regulations are needed. >>> meanwhile, it's another national strike in greece. we'll focus

pnd the 30 that are more -pdensely populattd are a ittl tiny countries like singapore is rich but t'scity state. haiii is more densely populated than indca. it cannottfeed itself even if it had the best system in the world. we should improve the agricultural secttr. the idea aide has to very good one.3e economies is a but unless thhre's industriilization in haiti it will continue to be a very poor country. take place in the 908s,+ there are people working in factorres in haiti for soccer balls and shoes and cloohing and they get a monthly waae, paying taxessaad then there was political taxxs and there were sanctions. the sanctions drove the middle united states and canada. same thing. unless we open our markets up to haitian products, we're not going to have a growing economy. we should have a holes ssick approachh we need to have a ree frade are no restrictions on the importing of haitian goods. i don't think it's a big threat we need a full bill to open mmrkets up that will attract the bussiess community of canadaaand the uniteddstates maybe using people from tte haitian dice pra to

create pipelines for jobs, rolls-royce corporations just announced they're moving their research from singapore to ohio and they have a pipeline there, they're creating a curriculum based on science, technology, engineering and mathematics. they need the resources, they need the tools to help to innovate and move us out of this recession so we can end our dependence on foreign oil. this is a small example of how successful a program like this can be in our great state of ohio. and with that i'll yield back the balance of my time back and reserve the balance of my time. the chair: the gentleman reserves the balance of his time. the gentleman from texas is recognized. mr. hall: i reserve the balance of my time. the chair: the gentleman reserves. the gentleman from ohio is recognized. mr. boccieri: mr. speaker, i would like to yield one half minute to the distinguished gentleman and the chair of the committee. the chair: the gentleman from tennessee is recognized for one half minute. mr. gordon: first let me compliment mr. boccieri and his partners for introducing this amendment. i want to clear u

crisis of 2008 into a dozen 9, when countries like brazil, -- 2009, when countries like brazil and singapore turned to the federal reserve, and it said we will make available dollars, just as it is doing now for the european governments. host: if the european government is offering this stabilization program and europe is sliding at the same time, it does not one affect the other? guest: that is a sign that people did not have confidence in the euro and they want to keep other currencies such as the dollar. the federal reserve is making it available is a way to stabilize currency markets. host: buffalo, n.y., independent line. caller: if the american people let private banks control the issues of currency, the banks and corporations would deprive the people of all their properties until children went up homeless on the continents that their forefathers discovered. it should be taken from the banks and restore to the people with whom it properly belongs. can you defined the field at currency -- define fiat currency? >> the jefferson quote is interesting. you need a financial system that works

ranks fourth in singapore is first. at 109, greece ranks below egypt, zambia, rwanda, and kazakhstan. country has to work hard to do this poorly. again, an editorial in "the wall street journal." john on the line for independents, you are on with bob davis, "wall street journal." are you with us? we will move on to mike. caller: there was some sort of possible technical difficulty. what is the possibility that there was something more sinister related to this? we have seen on the news what led up to the crisis was hedging or shorting companies and forcing them lower than they actually were and causing panic. could this have been something that was just the same type of thing, but struck down from weeks to minutes? guest: i doubt it, but if somebody had some sort of a computer program to start buying when the market went down 1000 points, i'm sure they made a lot of money in a minute. it is possible. host: west haven, conn., democrat. caller: good morning. i'm understanding is still trying to check out what was the reaso

thanks to the bailouts, taxpayers now own stakes in bankrupt hilton hotels in malaysia, russia and singapore. i'm not sure that's what the congress had in mind when they started the federal reserve. the federal reserve owned parts of civic opera buildings in chicago at crossroads mall in oklahoma city. i thought it was bad when the fed was printing money to keep up the government shopping spree, but i never expected they would buy the mall to go shopping in. they say it's over when the fat lady sings. well, now the fed has an opera house ready for her to sing in. americans deserve to know if the federal reserve is being honest with the congress and with the american people. we know what they say behind closed doors doesn't square with what they say publicly. recently, released transcripts show that in 2004, members of the federal reserve publicly down played specific concerns they discussed internally about the coming housing crisis. they knew we had a problem. at that time, chairman alan greenspan said if they were to encourage the public to talk about it, and i quote -- "it's possible to l

ranks fourth in singapore is first. at 109, egypt, zambia, rwanda, and kazakhstan.this is an editorial in the "wall street journal." john on the line for independents, you are on with bob davis, "wall street journal." are you with us? we will move on to mike. caller: there was some sort of possible technical difficuy. what is the possibility that there was something more sinister related tthis? we have seen on the news what led up to the crisis was hedging or shorting companies and forcing them lower than they actually were and causing panic. could this have been something that was just the same type of thing, but struck down fro weeks to minutes? guest: i doubt it, but if somedy had some sort of a computer program to start buying when the market went down 1000 points, i'm sure they made a lot ofoney in a minute. it is possible. host: west han, conn., democrat. caller: good morning. i'm understanding is still trying to check out what was the reason, whether it was manueal r a glitch. no one was there to double check on it, like the various two or three departments o

christine tan has the latest in singapo singapore. japan and korea closed for a public holiday. elsewhere, it was a greater session in asia. shanghai dropped to a seven-month low. in the end, the shaj shanghai composite managed to end higher after getting weighed down by a local media report that icbc and bank of china may change their strategies. in congress congress, a bailout for greece maybe enough prevent what crisis. foreign sellers were big sellers on the back of the wall street fall overnight. that's the picture here in asia. back to you. >> christine, thank you very much. we are counting down to the adp employment report. that hits the tape at 1815 eastern time. joining us now with more on what's moving the markets on the trading day ahead is chief market strategy david joy and from john hancock financial services, chief economist bill cheney. david, what do you think? are you feeling lucky right about now or are you feemg nervous given what's happening in the markets? >> i think a little nervous for the near term. ting recovery is still on track. but i think the events

developing countries that were classified as developed, today the top 40% are richer than that cluding singapore that's the third richestry in the world, all of the middle east, and a large swath of emerging economies as well. abt equity, about per capita emissions, about income levels and what appropriate allocation and respoibility is. but that has to be a conversation that's bed on more than everybody who is stuck in thatreaty that we signed in 1992 gets to take action. the united states has gone on record at the copenhagen accord saying it's going cut emissions by 80%. chinese have said it will cut the growth of emissions but everybody accepts that chinese emissions will continue to gr but the emissions as the only standard is a troubled standard for a co reasons. rinow per unit of economic output, china actually reduces -- produces more emissions than united states does. and india is slightly more than united states. as their economicoutput continues to rise, they are more inefficient than we are. and then as ken said, theumber of capitas really does matter. this is where population growth

adoptions side we average 65% well below 90% ofs, singapore and other asian countries we need to close the gap for more opportunity in the 21st century.s. one. the fact that we have the cable plans that we do in the united states with a capacity for high-speed service, in addition to theplan telephone plan gives the u.s. a potential competitive to manage as may move forward in the decadesrd ahead.i second, the adoption challenge gettinge more people to adopt broadband is as natural for a government industry situation g as i have e never seen. more subscribers that you and other providers get come in a moreb retake our adoption numbers a and the more than we can do ton accelerate and support adoption the better it is for broadband providers and tha that is a good thing. this is an area of great importance that the cable industry has been productive one of the early meetings we had telling us about the innovative things being done in thebe santa barbara to drive adoption and one thingop led to another and the cable industry stepped up with its programe taking a similar approach.h >>host:

the liberal party attacks the banking industry and that could send them off to hong kong and singapore, where taxes are lower. host: nile gardiner, thank you for being with us. guest: my pleasure. host: will take a short break, and then, a discussion on arizona's new immigration law right after this. >> this week's hearings on the gulf of mexico oil spill -- we will look back to the hearings from 1989. at the new c-span library, it is washington in your way. the search it, watch it, click it, and share it. >> sunday, noon british prime minister david cameron and deputy prime minister nick clegg at their first news conference. also, remarks by outgoing prime minister gordon brown. sunday night at 9:00 p.m. on c- span. >> this is a government, the present setup for greatly, and the house and senate follow this policy, that the lead in a crate prosperity by growing the government. >> judd gregg, on federal spending and the financial regulation bill. sunday on c-span. >> in their relentless revolution, it is described like capitalism is a cultural system, and not just economic. sunday nigh

i think that we are not a small country like singapore that can focus on a couple of industries to country industry stick advantage of its position and do extremely well as they have we're in big country with a big population and we have a lot of natural resources which are one of the things that are going to do well and as delore share on the map there's a high degree of natural resources have tended to do better so i think you have to have a very broad strategy, and i also think that there is illustration why each state has to come up with its own ideas because each state is like a little republic with its own particular series of strengths and weaknesses. >> governor richard centcom can we go to you? what is your take and what is happening in mexico? >> well, this was an excellent study and it showed how states can do it. one area that was not covered decided if you ask all of these governors who've succeeded in creating jobs to things absent in the study you couldn't possibly do this. but one was how did you get these done and that was coalition building. in my case, with a business co

average is about 65%, well below a 90% that singapore has, other asian countries. we need to close that gap for global competitiveness, for opportunity in the 21st century. and here's what i think the good news is. one, the fact that we have the cable plan that we do in the united states, with its capacity for high-speed service and as ubiquitous in addition to the telephone plan gives the u.s. a potential competitive advantage as we move forward in the decades ahead. that's a big deal. the second thing is the adoption challenge, getting more people to adopt broadband is as natural of a win-win for a government industry situation as i've ever seen. or more subscribers that you and other broadband providers add, the more we take our adoption numbers up in the country. that's a good thing. the more that we can do to accelerate and support adoption, the better it is for broadband providers and that's a good name. so that's an area of great importance and it's one of the cable industry has been productive and working with us. i remember one of the early meetings we had

know, we're not a small country like singapore which is going to focus on a couple of industries, twoe industries, take advantage of its position and do extremely well, as they have. we are a big country, we have a big population, and with a lot of natural resources which one of the things that are going to do well, those states with a high degree of natural resources have tended to do better. so i think you have to have a very broad strategy. i also think this illustrates why each state has to come up with its own ideas, because each state is like a little republic with its own particular series of strengths and weaknesses. >> governor richardson, can we go to you, tell us what's happening in new mexico. >> this was an excellent study, and a showdown states can do it. one area that wasn't covered is, i bet you if you ask all these governors who have succeeded in creating jobs, two things that are absent in the study. you couldn't possibly do this, but one was how did you get this done? and that was through coalition building. in my case with the business community, for lowering taxes

in sing apour, that number -- in singapore, that number is 31.9% and 29 kp 5% of south korea's graduatesfall in those fields. the united states is lagging so far behind with a staggering 4.5% of graduates in engineering. 4.5%. in order for us to remain competitive in a demrobal marketplace, it's so imperative that we find ways to increase the number of students coming out of college with a degree in stem-related fields, science, technology, engineering and mathematics. that means we need to build the interest level within stem education for students at all levels. mr. speaker, as a graduate of georgia tech with a degree in chemistry, stem education is an issue that is near and dear to me and i am very happy to see that this body considers in a bipartisan way a resolution that supports national laboratory day. this is a nationwide initiative that provides a form for scientists to work directly with students or the hands on learning experience by allowing our students the opportunity to collaborate with scientists in this way, national lab day can provide them with the tools they need to e

the developed countries, today the top 40% of developing countries are richer than that including singapore all of the middle east, and a large swath of emerging economies. it is appropriate to have a conversation about equity, per- capita emissions, and appropriate allocation and irresponsibility. it has to be based on more. you -- there has to be gradient beyond that. >> i think that is right. the basic point is thht all may well taken, it is incorporated in everything people are talking about. the united states has gone on record as saying it will cut the emissions by 80%. the chinese have said it will cut the growth of the emissions. everyone except the chinese emissions will continue to grow because their per-capita emissions will continue to rise. it is a troubled standard for a couple of different reasons. right now, per unit of economic output, china produces more emissions than the united states does. india is slightly more than the united states. there and get back my -- thei economicr output continues to rise. the number of capital are really does matter. this is where population

i think that we are not a small country like singapore that can focus on a couple of industries to country industry stick advantage of its position and do extremely well as they have we're in big country with a big population and we have a lot of natural resources which are one of the things that are going to do well and as delore share on the map there's a high degree of natural resources have tended to do better so i think you have to have a very broad strategy, and i also think that there is illustration why each state has to come up with its own ideas because each state is like a little republic with its own particular series of strengths and weaknesses. >> governor richard centcom can we go to you? what is your take and what is happening in mexico? >> well, this was an excellent study and it showed how states can do it. one area that was not covered decided if you ask all of these governors who've succeeded in creating jobs to things absent in the study you couldn't possibly do this. but one was how did you get these done and that was coalition building. in my case, with a business co