and if not, do you see the f.c.c. acting, and do they have the authority to do what needs to be done on their own? >> i understand the democrats are still organizing their subcommittees, leaderships. i don't know who's going to take those roles on. but there's plenty of democrat members who might be interested, because it's an important issue, and particularly as the fund may move to cover broadband. so there's a number of members who might step up to do that. so it is an issue. >> the f.c.c., could they -- >> yes, they have stated that they have authority to reform the fund. and as lee mentioned, it was fairly broud to give them power to amend it. >> do you see them acting -- i'm sorry. >> no, go ahead. >> yes, i do see them acting. in fact, they're going to act on one piece of it in february. it's already on their agendas. >> catherine mccullough, we'll start with you. where does congressional legislative power ends and f.c.c. authority start? >> i think everybody wishes they knew the answer to that question. [laught

whatever it is the f.c.c. would certainly find a way to go after the company and whatever technical defense the company had wouldn't you know wouldn't ultimately hold up now let's switch gears for about what i want to go back to a story that i just mentioned which is obama of course has to fill a few positions and his cabinet and from what we're hearing william daley might now be the chief of staff you know some people call this the the second president because the position has so much power and essentially this guy is another wall street guy why do you think obama would make that move is it really mean is it just because he's from chicago or is it because he's trying to appease big business here which you know is a line that the wood ministration has been repeating often. it is kind of surprising i mean because it's certainly the base already hates it you know the left wing blogs and everyone are flipping out at the idea of a j.p. morgan banker being the chief of staff you know there is part of his idea of peo

with over a million dollars in fines from the f.c.c.now indecency has always been an issue have held by the f.c.c. but it seems like the government has had a little change of heart in the peals court the fines have been overthrown the court decided the f.c.c. saying quote nudity itself is not per se indecent and that current indecency standards are unconstitutionally vague so now the f.c.c. alleged his case lied many claim the other networks might be more willing to push the government's buttons allowing for more nudie scenes but hey if the government is to get a fine you then would be holding back all those networks think about all the network producers out there this means their rules just became that much more lenient now i doubt they will be seeing the same amount of skin as we do on h.b.o. or showtime but i can guarantee more bare butts will be getting prime time i'm just curious which shows going to push the limits first to be glee maybe desperate housewives introducing new to the could give those shows an entirely new meeting but

there's a mechanism the f.c.c. tse has provided for someone to sort of arbitrate and go to them say "i don't think comcast is being fair on the price they're charging know carry nbc content." and i think we can expect to hear people... to watch people pay close attention to this issue. >> suarez:, okay, so you've mentioned the fast-growing video online industry and its concerns but there was some goodies in there, too, weren't there? for local newscasters, for spanish language broadcasters, for people who want to make sure there's a steady stream of children's programming, right? >> there are and comcast agreed to a lot of these conditions voluntarily and sort of raised some of them. they're agreeing to carrying a certain amount of local content, diverse content, kids content basically addressing concerns they're not going to take their service and squeeze it into the most profitable... reserve it for the most profitable types of content. that they're looking out for the public interest, too. >> suarez: some of the

then after the bush administration took office, and michael powell became chair of the f.c.c., there ame a new fine for a censored version, a cleaned-up version, a bleeped version of the real slim shady. then after people like you spoke out and said this is insane, they decided they weren't going to fine the radio station after all. what's going on there? well, i don't want to guess what they're thinking. i can only say that they didn't have any good legal right to stand on their ideals, and so they had to drop 'em, from what i can tell. that, i can assume, and i think that they were a little bit aggressive, and they--and they decided against their choice, and i think that it was going to be obvious that it was cultural, and since it's going to be cultural, and we're going to attack black kids for their language and culture, then we have to be careful how we do it, and so that was not a good vehicle to attack our freedom of speech because it was going to play out badly for them in the media and other places. they will pick better shots, but they will continue to take shots at us and a

the f.c.c. says the companies jumped the gun, because the rules have yet to be formally published. still ahead, ringing in a new lease on life bank united returns as a publicly traded company less than two years after being taken over by regulators. we talk with the man behind the turnaround c.e.o. john kanas. >> tom: ford motor's run of better than expected quarterly earnings grinded to a halt in the fourth quarter. the disappointment led to a stiff sell-off in ford shares today, dropping over 13% to a six week low. ford earned 30 cents per share in q-4-- well below analyst estimates and down from a year ago. among the reasons for the miss, higher production and advertising costs for new vehicles. c.e.o. alan mulally says expect those higher expenses to continue as it does more business. >> our costs will increase through 2011 because we are increasing production and we're bringing new products to the market. but the most important thing is not the cost but also the margins. to see the revenue increases in addition to the productivity. despite the fourth quarter earnings miss, 201

and i don't understand how the f.c.c. can allow that stuff to be put on the air.ing if i don't like it, you can't listen at it. but i don't want my kids listening at it, not until they're old enough to deal with it. on your 70th birthday, people sent greetings from all over the world, musicians and others, posted on your website. and so many warm wishes, so many people clearly grateful to you for your music, for influencing their careers. i just want to read, as we close here, a message from tommy james, who said, "all the roads on the rock and roll roadmap lead back to you." that's very well said. thank you so much for being here with us. thank you for having me here. all right, okay. [applause] ♪ i'm crazy. ♪ crazy. ♪ crazy. ♪ crazy. ♪ crazy. ♪ crazy. ahh! ♪ bo diddley is crazy. ♪ bo diddley is sick. ♪ sick. ♪ bo diddley is crazy. ♪ bo diddley is a lunatic. ♪ bo diddley is crazy. ♪ bo diddley is sick. ♪ sick. ♪ bo diddley is crazy. ♪ bo diddley is a lunatic. ♪ mama asked me when i was growing up, ♪ ♪ what did i wanna be? ♪ ♪ i said, "i wanna play my rock and rol

say that you have more than five hundred investors you need to disclose more about the company to the f.c.c. but goldman sachs said well the law doesn't apply to us you know the laws for the small people we don't we don't we don't you know if the law is something that gets in the way of us raping people we just change the law i mean they don't they're above the law member blankfein said he's doing god's work so god is up to obey the law another point is made by simon johnson who in a piece called why are taxpayers subsidizing facebook and the next bubble he says that goldman sachs remember it was made by hank paulson into a bank holding company so they're able to borrow at the fed from the fed at zero percent and yet they're engaged obviously in very risky investments as if they are hedge fund own oil exactly under the volcker rule remember the whole point was to shut down the proprietary trading desk because they were taking huge short term risks that were under written by the u.s. public who had to bail them out so that bypass that volcker rule restriction they've gotten into the pre i.p.

tell you but it was a fly on a wall that looks like this he threatened to do the job right exactly the f.c.c. threatened to do their job apparently goldman sachs is trying to do an end run around the way the law works you can only have a certain number of investors before you have to come forward a lot more disclosure they are. were openly floating that law and a lot of people now are upset because this whole deal looks like a complete catastrophe what what what gives goldman sachs the idea that they can simply flaunt the law like this they don't have the idea they were from presidents haven't they done it before i mean you know of the last three years goldman sachs is been pretty much goldman sachs but i must say. any investors who are upset because they couldn't get into the i.p.o. should count their blessings you know they were done a favor do is just run a numbers an i.p.o. and it was outrageously priced let's talk about those numbers are talking about a fifty billion dollars valuation how do they get to that number and why is it overvalued it's hard to tell how they got to that number b

appreciate your responses and here's our next question for you earlier tonight we told you about the f.c.c. report we discussed what would need to be done to prevent another financial crisis from happening so we want to know what you think in light of the big banks involvement with the crash back in two thousand and eight if the wall street status quo continues to go unchecked will the united states see another crash you can respond to us on facebook twitter and you tube and who knows your response just might make it on air. now in the. fast and glamorous world of high fashion models come and models go but watch out girls because there's a new top model here hitting the catwalk and he's after your job and yeah you heard me correct there he is after your jobs take a look at these photos of nineteen year old andre page he's from bosnia and herzegovina and has the fashion world buzzing because well i mean let's face it he looks like a woman and omar jacobs is using project in his latest campaign and just this week in paris he walked the catwalk twice for john paul who now many in the fashion

promotion of private offerings and the facebook deal is already reportedly attracted the attention of the f.c.c. so basically to cover their ass goldman is now going to limit the offering to non-u.s. offshore investors to skirt around the law and goldman says that this was their decision not facebook's on the wall street journal has reported that about seven billion dollars in orders for facebook shares have already poured in with the chinese demand especially strong so will this deal to limit u.s. investors actually hurt mark zuckerberg social networking site that has nearly six hundred million members worldwide i guess only time will tell but all of to say is that this is certainly not how goldman planned for the deal to turn out in fact it's quite the embarrassment for that and many are now wondering if goldman's relationship with facebook might suffer if it could lead facebook to find a new company to help sell shares on the social networking site begin selling them to the public in two thousand and twelve so poor goldman sachs another screw up by wall street but haven't we the american tax

we've heard from some members, congress should be developing the strategy and the policy and not the f.c.c. and, of course of course from the commission they say we have to react to it. so there's a continuous, you know, pressure and challenge there, and we're going to have to see how that plays out. >> and if you would, in closing, give us a thumbnail of your current work and the type of clients you work with. >> well, it's a telecom technology law firm. . . share of's office is preparing to hold another press conference in -- sherriff's office is preparing to hold another press conference. it started around 10:00 a.m. we were headed to another event. all of the sudden we saw police sirens and ambulances pass by. within minutes, it was clear that something tragic was happening. on a crowd and a congresswoman. representative gabrielle giffords was shot in the head while posting a routine "congress on the corner" meet and greet event. this intersection was turned into an emergency center. 18 victims were shot. five died on the scene. another ad university medical. the rest, including effort

the f.c.c. and buckley vs. vallejo. i want to bring this system under control. there can be no more important priority to this country than giving our politics back to the american people again. i thank you very much. i yield back my remaining time. the speaker pro tempore: mr. jones of north carolina. >> i ask permission to reclaim my time. the speaker pro tempore: without objection, so ordered. mr. poe: mr. speaker, history, heritage, and symbols of the united states are constantly under criticism in this country. even yesterday, when we read the constitution of the united states on the house floor, the first time it's ever been done in 200 years, there were some who complained that it was irrelevant. it's kind of like folks in church that cover their ears when certain sections of the bible are read, they don't want to hear it because it may apply to them. people go to courts nowadays to try to remove our national motto in god we trust. it's above the flag, mr. speaker, though television very seldom show ours national motto. and then there are those who are off

financial times wrote an editorial about the goldman sachs facebook dale goldman sachs violated securities laws by over count over over and shares relative to f.c.c. laws and the financial times simply said well there's nothing magical about that number well i guess there's nothing magical about the whole concept of rule of law either now you say that the response to the financial crisis is a crisis of democracy what it was i mean exactly what it means to me is i don't know how it was in the states but here when the crisis got going properly say two thousand and eight there was never a moment when there was an open debate when people said well what are the possible responses to this should we be bailing out insolvent banks is it really a liquidity crisis or is it in fact a crisis of solvency there was no debate we simply had a lot step chorus of one expert politician aided and abetted by the supine press all saying exactly the same thing there is no world alternative it's a crisis of liquidity we must bail out the banks and there was no discussion no point. was a discussion opened that people could hear different points of view was claimed there