he might think that is switzerland. in the united states granting animal standing as it is called is a huge agenda item of the animal rights movement because as you can imagine it would impede the animal springing the lawsuits, they would have no idea what was going on, it would be animal rights activists bring in the lawsuits and they would destroy animal industries with malice of forethought. right now there are more than 100 and law schools in this country from a yale, harvard, rutgers, my friend, and others who are training lawyers to advocate for animals. teeone to unleash the power of the lawyer, believe me i am one, i know what we're capable of, on animal using industries. and you might say they have this law schools wasting the kids time and money teaching them this. you have people in very high places who support animal standing. cass on steen, president -- president obama's regulations are, the men in charge of the white house over sing all the different regulations of the government, before he entered governm

it was announced in switzerland, and i think it is in switzerland where they have employees, and they have 10 employees in texas. it reduces their tax obligation to the united states. in switzerland, they say the intent to distribute $1 billion to their shareholders at this point in time in. is that troublesome to you? we have written a letter asking whether it is troublesome, because there may be substantial liability here for transocean, as well, and if they go ahead and distribute the potential $1 billion in the face of potential liability, would that not be a difficult circumstance fr people's is live said been dramatically affected? >> senator, i do not think i've actually seen a copy of a letter, although i have been told. all of the responsible parties, regardless of whether, however transocean or another responsible party spends funds, our goal is to get back every dime for the american taxpayer. >> you will have just received this then. would you take a hard look at this? this does raise questions. we had three parties at this table, each of which was pointing in a different

it has areas which look like switzerland and it has areas that look like the sahara desert. people reflect the same. you have people who are completely wlite with blue eyes who are supposed to be the decendants of alexander the great, you have mongolians, people from central asia and people from south asia, and you can see it in their faces. it has languages from all over the world. there are dozens of languages. so this is a very special place. >> what are the chances that pakistan will ever get back to normality? >> well, i hope that we will, you know, as long as democracy continues, as long as the military does not intervene again. we have a very bad democracy, a poor democracy. if this democracy was given time, if there was another election without military teerns, a new kind of new generation of leaders that come in and get attracted, come nool politics, come into public service, you know, i think things things will slowly change. the problem is that, you know, our whole democratic experience has been interrupted by the military every 10 years. so we go back, we re-inve

it was announced in switzerland, and i think it is in switzerland where they have employees, and they have 1300 employees in texas. it reduces their tax obligation to the united states. in switzerland, they say the intent to distribute $1 billion to their shareholders at this point in time in. is that troublesome to you? we have written a letter asking whether it is troublesome, because there may be substantial liability here for transocean, as well, and if they go ahead and distribute the potential $1 billion in the face of potential liability, would that not be a difficult circumstance for people's is live said been dramatically affected? >> senator, i do not think i've actually seen a copy of a letter, although i have been told. all of the responsible parties, regardless of whether, however transocean or another responsible party spends funds, our goal is to get back every dime for the american taxpayer. >> you will have just received this then. would you take a hard look at this? this does raise questions. we had three parties at this table, each of which was pointing in a differe

so in switzerland, it announces that it intends to distribute $1 billion to its shareholders at this point in time. is that troublesome to you? we've written a letter asking whether it's troublesome because there may be substantial liability here for transocean as well. and if they go ahead and distribute that $1 billion in the face of potential liability, wouldn't that be pretty difficult circumstance for a lot of people whose lives have been dramatically affected to see? >> senator, i don't think i've actually seen a copy of the letter, although i've been told that it was sent. our focus is from all of the responsibility parties or anybody who's potentially liable to recover every time for the taxpayer. so regardless of whether they -- however transocean or another responsible party has spent funds, our goal is going to be to get back every dime for the american taxpayer. >> you will just have received this then. would you take a hard look at this? i mean, that does raise real questions. we had at this table three parties, each of which were pointing in the other direction saying w

her sister was committed in switzerland and it is conceivable that the mother also had it. >> disabilities on his side? >> not that we know of. certainly he blamed her. >> well when he died, his brain was extracted and his eyes were extracted. and the rest was cremated. correct? >> yes. >> the brain was then divided into parts, was it not? >> yes. >> many parts. like over 200? >> yes, i think it was 400. >> was it reas assembled? >> i don't think so. >> they have reconstructed it on the base of the photographs. i saw that on a television program. >> how good is that? >> how idiotic if you want to somehow see the whole brain, you are going to be able to find the source of his genius. >> did he have an affair with his best friend's niece? >> his best friend's niece, yes. he also had an affair with his future wife's daughter, or tried to. he tried to marry the daughter of elsa. >> he proposed to her? >> we only know that indirectly, again. she wrote to a letter that einstein was putting the make on her and she wasn't really that interested. >> what does that phrase mean? >> putting the make o

you have bloggers group in the people's party over there in switzerland, did extend well. so these force it seems to me, a stronger force. friedman believed were all going to be of our playstation with our patsies and all these things at our computers. i don't think so. i don't think so. i think these forces were much stronger that you know what? that's a force we saw yesterday. it was as powerful as people think, but you either thousand people a couple years ago marked marching with him mexican flag. wake up. culturally it is seceding from the country is a real possibility. >> host: russell in las vegas your been very patient. you're on the air with pat buchanan. >> caller: i wonder why after this comment i think you is exactly right, las vegas is 40% hispanic and a my recent trip to california, if my wife had been able to speak spanish, we have been lost. i wonder why the federal government hasn't just sent the truth down and sealed the border. it seems like a simple solution. >> guest: i recommend back in 19 and went back under the wilson, go to and put the california n

she's never lost a first round match taking on stephanie vogale of switzerland today. >>> a college lacrossehampionship to be played at raven stadium this coming weekend. salisbury state is coming to town to play for the division three title. the sea gulls gotover time play. check out the celebration. how does no one get hurt? you would think someone gets hurt in there. but these guys are used to it. the gulls are advances to the title game for the first time in five years. they will take on taft university on sunday. >> the celebration is rougher than thth,,,, >>> don't miss the cbs prime time line up. >>> finally tonight, the city of chicago went to the dog's this weekend. that's because pugs and their owners held a giant party. the guest of honors got all depressed up. many of them got dressed up in the colors of their favorite chicago team. they helped raise money. >> pugs are cute by themselves, they don't need to be dressed up. >> you just endeared yourself with all the pug owners. >> i hope so. i bet they are cold. i'm vic carter. >> and i'm denise koch. thank >> couric: i'm katie cou

start with the number one-seeded serena taking on stephanie vogel of switzerland.a in the near court serving on match point. draws vogel out wide with the swing. all she can do is send that back. serena easily puts away the volley to win the match in straight sets. however, her sister venus is getting attention because of this. her new outfit that she wore on the court. she also won her match, but she was also wearing some sheer undergarments because she said she was trying to create the illusion that she was wearing nothing underneath. this is not a side she normally sees. at first when i saw that, that's good planning. you've got to worry about those kinds of things. >> does it matter that she won 3 and 3? it's stupid that they're doing their sport at the highest level possible and someone is going to come up with crap about what she's wearing. >>> moving on, it was a weekend of extremes for joe gibbs at the racetrack. he was forced to settle tensions after the race between the two best drivers. he held his grandson's hand as he led the prerace prayer. he grew ch

venus williams in search of an eighth grand slam title in the far court against patty snyder of switzerland. venus needed a fourth match point but wins 6-3, 6-3 to improve her record to 27-4. serena won the australian open earlier this year and is the number one seed. >>> coming up on geico sports xtra a peculiar apology by donovan mcnabb. you might think what does he have to apologize for. and the answer is watch at 11:15 on geico sports xtra and i'll tell you. >> you're good at this teasing stuff. >> don't go home. i want you watching the show tonight. >> i will tease them at the end of the "news edge" at 11:00. i'm for getting my own show. >> stay focused. >>> graduation gowns made of plastic bottles. how the class of 2010 the going green. stay with us. -( music playing ) - we know technology can make you more connected. but now it can make you more connected to your doctor through e-mail. test results from home. check records. change appointments. now doctors, nurses, techs, pharmacists are all digitally connected to each other. and ultimately connected to you. at kaiser p

does that indicate that a higher proportion of the financial business in a place like switzerland isun through traditional banks as opposed to what we are studying these two days, the shadow system? >> you're exactly right. the systems are we call universal banking models and they combine in one legal entity, the whole span of financial activities. and they're capital markets, their security markets are less important source of credit them in our country. and our country still roughly half of credit comes through institutions because banks and roughly half of credit comes through the security markets, both simple bond markets as well as the back security markets. >> i'm almost out of time. >> would you like a couple minutes? >> of a couple of additional minutes to ask a question. you talked about your efforts in new york and here to look over the horizon in charge of a better idea of what is coming at us. to what degree will the reforms that you are advocating increase our capability to be more anticipatory and therefore provide goods rather than just react to? >> i think they will h

switzerland. monaco. where prince albert's in a can and they'd better let him out. with the potential sovereign debt downgrade in spain, zapatero, the country's prime minister, has replaced zorro as the nemesis of the establishment. and we're all acting like sergeant garcia! there. anyway. i say viva zapatero. a darn good movie. it still holds up. although not as good as brando's work in "one eyed jacks." then there's the mining tax in australia. oh, man, is that ever scary. they might as well tax hedge funds given how many managers own these australian natural resource companies. fourth item on the buffet, the decline in the price of oil. back to where it was causing -- >> sell sell sell sell. >> -- a repeal of that sector's parabolic move, which is serious given the fact the group makes up 12% of the s&p. fifth, we've learned that washington is about to turn the banks into a bunch of bailey building & loans. again, i have no choice but to refer to the master. mcguire's ode to destruction. ♪ yeah, my blood's so mad ♪ feels like coagulating ♪ i'm sitting here just c

moment there is a nearly insurmountable one which is why people have built this fabulous machine in switzerland, the large hadron collider which is doing these partical physics experiments because we're trying to figure out the next step in physics. >> charlie: we're trying to figure out what was the first moment after the big bang, what was the first moment that we don't know? >> we're trying to do with experiments largely part because in theory we don't know what to do. when i was in graduate school at princeton in the 1980's -- early 1980's, the last pieces of what's called the standard model came into play. and that was what's called quantum cromodynamics and quashings and our standard model of how -- and quarks and we know it doesn't work because it doesn't include gravity and it's not fully integrated with the other forces, so you have this strong notion that there is something missing. there are two ways science progresses. one is by brilliant people having deep thoughts -- einstein is a great example of that. his theory of relativity was this incredibly brilliant thing that kind of came

switzerland was ahead of mexico. birth of foreign-born americans were, of course, but a tremendous margin, mexico, china -- by a tremendous margin, mexico, china, the philippines, india, cuba, vietnam, el salvador, korea, the dominican republic, and canada. no european countries in the top 10 in 2000. germany had been in the top three of countries of foreign birth in every census until 1980. now, it is not even in the top 10. the first nine on the list of developing countries, only canada has an advanced industrialized economy and a middle-class majority, and of the 10, only 1 cents caucasian immigrants to the united states -- and only one one sends caucasian immigrants to the united states. in many cases, they are who they were 150 years ago. poor, agrarian, and incredibly hard-working. there also younger than many americans, so there are more likely to pay into schemes like social security for more years before they start to collect. they are also more likely on average to have more children, so on the one hand, th

the peak even with investment banks now called banks are about one time gdp comparable numbers in switzerland and the peak were almost eight times gdp and the u.k. almost five times gdp and europe, almost two times gdp so our banks were less leveraged than the whole system as a whole was much schaller dee dee to smaller as a share of our economy and hard to imagine because our crisis was severe but we were in a better position to withstand the shock that was true for other countries. >> spread the leverage ratios the you just cited are so extreme as that indicate a higher proportion of the financial business in a place like switzerland is run through traditional banks as opposed to what we are studying on the shadow system? >> you are right. the shuttle's systems are would recall universal banking models and they combine one entity, legal entity the span of the financial activities their capital security markets are less important source of credit and our country. our country is still half of the credit comes through what we call banks and roughly half of credit comes through the security mar

the elections in europe, the people's party in switzerland did extremely well.minarets are going to be built. so this force is the stronger force. it's the anti-tom freedman world. freedman believes we're all going to be at our play stations with our pepsis and our computers. i don't think. so i don't think. so i think these forces are much stronger. and you know what? that's a force we saw yesterday. wasn't as powerful as people thing. but you had 500,000 people marching under the mexican flag in los angeles. wake up. i see the american southwest culturally seceding from the united states. >> you've been very patient. your on with pat buchanan. >> caller: i wonder why -- after this comment, i believe he is exactly right. los angeles is 40% hispanic, and my recent trip to california -- in fact if my wife hadn't billion able to speak spanish we would have been lost. i wonder why the federal government hasn't september the -- sent the troops down to seal the bored. >> guest: that's a solution i recommended in 1991-1992, that california, governor pete wilson, but t

they moved to switzerland two years ago in order to apoid paying american taxes. and yet, this is the same company that just the other day said they wanted the limits capped at something like, i don't know, $15 million or something that they would be opened to. so i think this is another case of socialism for huge corporations and the rest of us have to get along like we were living in a socialist 19th century. guest: he's referring to transsession which did move from houston to switzerland. there are implications for a lot of this. the with drilling rig was flagged in another country with a different inspection procedures. there's a lot of interest in looking at kind of the foreign issues that he raises. host: next up is wisconsin. justin on our line for republicans. go ahead. caller: good morning. hopefully they'll get this spill and this mess cleaned up in a timely manner. as they always do get it cleaned up, hopefully not too much damage done. and i pray the eco system doesn't take too much of a hit and they'll learn from their mistakes not to let something li

but, we're not going to remake afghanistan into the switzerland of central asia, and in any event we couldn't do it to begin with. it is the afghans' job and we shouldn't measure our performance by how well, they are doing in terms of eliminating corruption. we have to measure against our objective of defeating the taliban and i think there is a problem in washington, frankly as the administration looks for a way to base its rationale for withdrawal beginning next summer, to try and find progress that it can cite in order to justify reducing american troops. i'm not sure the kind of progress they think they want is going to be there. >> jamie: ambassador john bolton, great to have you with us. sunday mornings, thank you so much. >> thank you. >> calls are now -- it is getting hot inarizona as calls are spreading for an economic boycott over the state's controversial immigration law and the one defender this weekend is sarah palin, he's jumped into the fray and spoke at a news conference in phoenix, and the news conference on border security and as she stood next to republican governo

offshore drilling company that is now listed and based in switzerland. that company is out with first quarter earnings after the closing bell tonight. any outlook for the industry, any statement concerning that oil explosion, that will be closely watched tonight. transocean is the company that owns the deep water horizon rig that exploded and sank in the gulf of mexico around two weeks ago. we know bp has blamed transocean for the technical malfunction here, but of course, bp will have to bear most of the cleanup costs here. now, it's still not clear what transocean can actually expect in terms of future payments, claims and futures losses here. we know the company is ensured against a loss of the rig in terms of $950 million. the total cost could be a lot higher. fitch estimated that quarterly losses in terms of revenue would accrue to around $47 million per quarter here for that specific rig. so as it is also the case for bp, the market value in transocean, that has plummeted over the last two weeks. we saw the share price dropping by a third since tha

process which led to the fort taking over routes -- led to the farc taking over an area the size of switzerland? he likes to talk about my ilk and warmongers and names like wolfowitz. for a long time, it was just neocons that argued that the regime in iran does not represent the will of the people. contrary to what roger was riding in february of last year, this couple accommodation had not been reached. the marches to freedom had not been so great. where a woman in a country is legally worth half a man is not a country that we can look at with a great deal of new ones. -- a great deal of nuance. i am talking about the regime. about the matter of elections. -- elections, let me look at iran's neighbors. turkey has elections. they are democratic. pakistan has elections. they also wound up the posing a military dictator. so when you were talking about elections in the region, i am talking about the world outside of the arab court. by that, the elections in iran are a sham. this is something that did daniel patrick moynihan, another crazy neocon, has defined deviancy down. so we are not to think o

the funds from an american company that's got some assets here in the unite states than somne in switzerland. tell me aga where the ship was actually flagged in the marshall islands? >> the ship was operating under a marshall islands flag. >> marshall islands. again, given what the people of mississippi went through trying to get the insurance industry in america to pay claims in mississippi after katrina, i have a very strong suspicion we are going to have a heck of a time getting someone out of marshall islands or switzerland to pay these bills so, mr. chairman, i would hope that you would give and again they're pulling american minerals out of the ground on an american sea bottom with a foreign flagged vessel and quite possibly a foreig crusoe, mr. chairman, with all respect, i would certainly hope that when we go forward from this that you would give every consideration to extending the gentleman's act to cover this sort of vessel in this sort of circumstance. i thank you very much. >> gentleman and i have had conversation about application of jones act to this situation and i have asked

the peak even with investment banks now called banks are about one time gdp comparable numbers in switzerland and the peak were almost eight times gdp and the u.k. almost five times gdp and europe, almost two times gdp so our banksere less leveraged than the whole system as a whole was much schaller dee dee to smaller as a share of our economy and hard to imagine because our crisis was severe but we were in a better position to withstand the shock that was true for other countries. >> spread the leverage ratios the you just cited are so extremas that indicate a higher proportion of the financial business in a place like switzerland is run through tradional banks as opposed to what we are studying on the shadow system? >> you are right. the shuttle's systems are would recall universal banking models and they combine one entity, legal entity the span of the financial activities their capital security markets are less important source of credit and our country. our country is still half of e credit comes through what we call banks and roughly half of credit comes through the security markets bot

and he told me -- excuse me, he was one of the people who went to the airport to meet him from switzerland after he retired. now, this young man i'm talking about is 29, 30, again that generation that has grown up under mubarak's rule. and he was really impressed by mohamad elbaradei and he was seriously considering following him because he's created this coalition now called the national coalition for change and his facebook group has 200,000 people in ejust a minute. -- egypt. i'm really worried that he's surrounding himself by all these old faces from political parties that don't deserve any attention right now. so when he comes back to egypt because elbaradei, i'm going to tell him this. and if he doesn't get rid of these old faces, i'm just not going to support him anymore. stop here for a minute. this is a 29-year-old egyptian who is saying, you know, this nobel peace prize laureate who we hope is, you know, our new hope in egypt, he's doing politics as usual. and this is what facebook and twitter are doing for young people in egypt. malaysia and other countries where we don't have t

process which led to the fort taking over routes -- led to the farc taking over an area the size of switzerland? he likes to talk about my ilk and warmongers and names like wolfowitz. for a long time, it was just neocons that argued that the regime in iran does not represent the will of the people. contrary to what roger was riding in february of last year, this couple accommodation had not been reached. the marches to freedom had not been so great. where a woman in a country is legally worth half a man is not a country that we can look at with a great deal of new ones. -- a great deal of nuance. i am talking about the regime. about the matter of elections. -- elections, let me look at iran's neighbors. turkey has elections. they are democratic. pakistan has elections. they also wound up the posing a military dictator. so when you were talking about elections in the region, i am talking about the world outside of the arab court. by that, the elections in iran are a sham. this is something that did daniel patrick moynihan, another crazy neocon, has defined deviancy down. so we are not to think o

what about corporate welfare and the situation in the gulf where all of the companies are in switzerlandnobody is paying taxes. how do you feel about that? the war in iraq. how about the wars? wake up, lady. guest: i recognize there are very difficult issues, the war in iraq, the tragedy taking place right now in the gulf, the oil spill. what i believe that these to happen, for those elected to congress, whether you are republican or democrat, when you are elected, you take on the response ability to lead. you have to be willing to work across the aisle to address difficult issues, rather than ignoring them or pushing them off. both parties have their long list of complaints. we need to move beyond that and say, this is a new day. we will start figuring out how to solve problems to move this country forward, rather than continue to point fingers. host: york, republican. caller: good morning, america. i called a couple of times before. this is about the economic stimulus package. with all of the money -- i live in new york. my county is 5 million in debt. s for the congresswoman, there is

if you want these companies, one of which is headquartered in great britain and another in switzerland, to make every effort to make sure their employees don't ago as these di putting american lives at risk, you must make certain they are exposed to pain in thenly place they can feel it, tir bank accounts. as a friend recently said, make them hurt where their heart would be if they had a heart. i am an environmentalist. i worry about the louisiana wetlapds, the florida beach, all of our precious lands endangered by this oil spill, but i do hope and believe this, after muc work perhaps for years, this mess will be cleaned up. the wrongdoers he can pay enough money to those who have lost their ability to earn a living to make that right and eventually the shrimp will be back, the oysters and crabs and fish will be back and bp will be back. we have heard over and over that the value of bp's stock has fallen, but bp is selling for about the same price it was a year ago toy, so bp, transocean, halliburton and any other company will be back becae they have the infrastructure and economic mig

right now, he's under house arrest in switzerland. steve? >> meanwhile, it is some of the worst flooding that tennessee has seen in decades. at least 12 people have died in that state alone. it could get worst. they are preparing for the cumberland river to crest 10 feet above flood stage. it's expected to crest at around 50 feet later on today. tom dees from whbq joins us live from milliton, tennessee. good morning to you, tom. >> good morning, guys. if you don't know where it is, we're about 30 miles north of memphis. behind me is the charles w. baker airport. i want to step out of the way and let you have a look at this. we're actually about 300 yards from the river. that river has overflowed its banks and flooded out the airport. we're on a road known as raleigh millington road and you have two neighborhoods on this road. one about 1/2 mile north of usment us. south of us we have the rest of the roadway flooded out and a neighborhood there having problems. we want to let you know that some 300 people have been evacuated and are currently

first, we are not at present able to conduct inspections in the european union, switzerland or china. significant audit work on which investors and sec reporting companies rely occurs in these countries. one of the obstacles, particularly in the e.u., has been the board's inability to share confidential ispections and investigation information with foreign audit oversight authorities. sections 7602 of the wall street reform act passed by the house last year would correct this problem. the senate financial services bill contains a similar provision. hopefully, enactment of the formation-sharing provisions will allow e.u. inspections to go forward. the second challenge relates to overseeing auditors of securities broker dealers. while such auditors must register with the pcob, we currently lack any authority over their work. both the reform act and the senate financial services bill would extend board inspections, enforcement and standard-setting authority to audits of broker dealers. both bills would close the deal between broker dealer auditor rebel station and board authority over th

"in helping to finance the conference in switzerland aimed at helping the next generation of business leaders to operate under an ethical mandate, he sees a bigger requirement for businesses to go beyond just seeking profit and to revisit the corporate reason for leadership efiks and make statements shoulship to make ita reality." tony, democratic line. is this a win for consumers? caller: it can be, there is a possibility. it seems that every time they want to take lot a little further you have filibusters -- every time i want to take the law it will further you have filibusters from the conservatives and you cannot get anything done. people complain all the time that congress is broken. wake up, america. it is not the congress that is broken but the people that we send there. if we have an entire congress of michelle bodman, what will the country look like? take a look at the people you are sending to represent us and the job that we are sending them to do. stop sending people that you want to have a beer with. have thea beer at home. host: see if you agree with this piece from "of

if you want these companies, one of which is headquartered in great britain, another in switzerland, to make every effort to make sure their employees don't act as these did it, putting american lives at risk, you must make certain they are exposed to payton -- paying, and only way they can feel it is their bank accounts. as a friend recently said, make them hurt where their heart would be, if they had a heart. host: testimony yesterday. again, live pictures courtesy of the bp web cam. "usa today" diggs into some of the editorials today. a gusher of political gamesmanship. only good thing that could come -- moving us away from addiction to oil. caller: i just find also just amazing that everything just boil down to politics. i personally believe the government could have done a better job, but at the same time, there was a panel on fox news -- 60% more dissatisfied with the response but with bp, 75% were discussed at their response. you don't want the public sector, the government is bad, and you want the private sector, that is even worse. it is just a bad that people want less regu

interaction with a 13-year-old girl in 1977, but fled before sentencing, he remains under house arrest in switzerlandrience for a blind woman after united airlines flight attendance forgot about her and locked her in an abandoned plane. she was from vancouver to jacksonville and stopped in chicago. supposed to be guided to the flight in florida, but a maintenance worker found her inside the plane ten minutes later and the family complained to united airlines who gave the woman a $250 travel voucher. a new white house video blog is providing a rare look behind the scenes at 1600 avenue. check out this entry, president obama is on camera urging a new york times reporter to ride in a hover craft. they were visiting the company that makes the hover craft and he didn't want to be convinced, but he didn't want to, but he did convince new york times reporter cheryl gates solberg to hop in. okay, those are your headlines and out to rick the weather. >> man, i want a hover craft. i cannot wait for that to happen! we've got a nice day. a look at the weather map. we have problems with severe weather today, a li

switzerland is a longer story. they didn't have agreement there until after world war ii. it's a powerful unifying force. in china, there was an emperor, first emperor of china, some somebody out there is going to cringe, but the first emperor of china, actually about 245 b.c. is when he lived and look at that vast area of china and there were 300 some languages that were spoken and separate provinces and weren't unified. he looked around and said these are similar people, they look the same. they don't look the same. they look the same and similar ethnic background by looks and decided he wanted to unify the chinese people so he hired some subscribes to -- scribse to produce the language. and they are common to the chinese and 5,000 characters. i mean that's why it's picture writing. the people he hired are intellectuals. they decided how to make sense. they do pictures and now we have the chinese language and the goal to unify people is effective. he is the one who unified or standardized the axels on the ox carts and standardized a number of other things. there is a pea

if you want these companies, one of which is headquartered in great britain and another in switzerland, to make every effort to make sure their employees don't ago as these did, putting american lives at risk, you must make certain they are exposed to pain in the only place they can feel it, their bank accounts. as a friend recently said, make them hurt where their heart would be if they had a heart. i am an environmentalist. i worry about the louisiana wetlapds, the florida beach, all of our precious lands endangered by this oil spill, but i do hope and believe this, after much work perhaps for years, this mess will be cleaned up. the wrongdoers here can pay enough money to those who have lost their ability to earn a ling to make that right and eventually the shrimp will be back, the oysters and crabs a fish will be back and bp will be back. we have heard over and over that the value of bp's stock has fallen, but bp is selling for about the same price it was a year ago today, so bp, transocean, halliburton and any other company will be back because they have the infrastructure and eco

switzerland spends 11%. most other people spend around 9%. but we do not get better outcomes.e cannot afford that. we cannot solve the deficit problem unless we deal with the underlying health care costs that affect not only government spending but the private sector as well. germany and netted 300,000 jobs out of their solar subsidies. even taking into account the dragon that the subsidies put into the economy, if you transfer that to america, it would be at least 1.2 million jobs. it would actually be more, because of our solar capacity. the sun that shines in germany as much as it does in london, but they still decided to make a better future. we have two problems in education. one is k-12 quality. the other is higher education cost. i strongly supported the president's education reform initiative, but i think most of it will be gone in five years. the economic benefits of the gi bill were gone in five or six years. the delivery system is deeply flawed and has to be changed. we have the same problem in finance. all of these derivatives and hedging mechanisms -- they started

switzerland put together a $50 billion bailout for u.b.s. u.k.'s bailout support for its banks exceed $1 trillion. the case of iceland provides a cautionary tale for all nations on how a government can be completely overwhelmed by the collapse of its financial institutions. and while french and german banks enjoyed modest bank bailouts through e.u. provided to greece, these banks received a massive indirect government bailout. "the wall street journal," reports that german and french banks carry a combine combined $119 billion in exposure to greek borrowers and more thans $900 to greece and ireland and portugal and spain. french banks -- german banks have $45 billion exposure to the country. given these circumstances other countries face just as urgent need to break apart their megabanks. what about canada many ask. its large banks did well during the last crisis, but there's significant differences in our two countries between the united states an canada. first there was no wave of financial deregulation in canada. canadian banks are subjected to

the major global firms, the sec, the british fsa, their counterparts in france and germany and switzerlandcular, together, to conduct a series what we call horizontal reviews, to try to assess limitations and risk management and try to encourage people to fix those problems in risk management early. and those were targeted on very much like what a thing of begin with, whisk and derivatives in lending to hedge funds, in management of liquidity, and conducting stress testing. and those efforts were designed to assess what was best practice, whether or gas, and tried to bring all those together around the world to encourage, beginning at that point in greater of 2005, 2006, 2007 to try to get the firms to dial back the risk of taking that and finally to mention the one thing you mentioned, we begin a single effort to start to clean up the derivatives market, force more standardization, automation, those were fundamental changes that have paved the way now to what we hope to achieve in these forms to bring this out of the dark on to clean house as we can manage the risk better. now, as you kno

first, we are not at present able to conduct inspections in the european union, switzerland china.ignificant audit work on which investors and sec reporting companies rely occurs in these countries. one of the obstacles, particularly in the e.u., has been the board's inability to share confidential inspections and investigation information with foreign audit oversight authorities. sections 7602 of the wall street reform act passed by the house last year would correct this problem. the senate finaial services bill contains a similar provision. hopefully, enactment of the information-sharing provisis will allow e.u. inspections to go forward. the second challenge relates to overseeing auditors of securities broker dealers. while such auditors must register with the pcob, we currently lack any autority over their work. both the reform act and the senate financial services bill would extend board inspections, enforcement and standard-setting authority to audits of broker dealers. both bills would close the deal between broker dealer auditor rebel station and board authority over these