i turned to tim paulson and said, wwe could solidify those projections. i heard that there were possible state legislation that could be brought up to solidify this, and trying to find out what this legislation may be. we can throw these resources behind legislation. that is if this is useful to the people. i never heard the specific legislation that we could support. if so happy to hear about the stronger protections and i support this project. >> gene adam, matthew fontas, kevin -- it looks like a doubling of cards. corey brae. ramsef maro. hiroshi fakuda. >> do so one of the principal managers there, and is interesting, what we spoke about. i would like to say, i am from san francisco, 51 years old from the western part of town, just like the western portal. i grew up and all of that here, and i think that we're lucky to have such a wonderful team of architects and developers, such a great plan, to know that this line will be going right to the middle of the project. this is very fantastic. i understand the concerns, very much. we have dealt with the s

that most of that happened in the bush administration these were decisions were made by henry paulson and tim geithner and george w. bush and his team but why not more phone. this particular in the first year of the obama administration on american manufacturers to quote hamilton rather than on the banking industry the financial services sector i think the idea there was that the this notion of too big to fail which is really a very unfortunate. set of circumstances is actually there's actually something to it economically the credit system the way i think of it is much like the bloodstream of the economic body if you will and when that blood stream stops running you die so while helping some individual business is made it made a lot of sense and we actually tried to do a lot of that in the recovery act the small business administration was really beefed up in ways that kind of flew under the radar it was these lords structural parts of the global financial system that to this day and again not something that you get a lot of applause for to this day i think helping to kind of get that system

the country has been served well by people that, i mean by now person bernanke, tim quitener quitener,-- geithner, pank paulson, bernanke, summers. >> oh, absolute. >> rose: in other rds,. >> if we did not have-- . >> rose: those people making the decisions they did, we would be in a worse pce. >> absolutely. >> rose: okay. >> i mean i've worked with all of them. i have known geithner for years. ben bernanke was a governor when i was on. hank paulson i've knownor years in the private sector. had we not had those people, it would have been very significantly worse. they were confronting problems that no one had to deal with. i mean i would sit there and say i know what they're going through. because i have been in similar circumstances. but the order of magnitude was a small fraction of the types of problems they had to make decisions on, on very little knowledge. >> rose: do you think any of the decisions you made as chairman of the federal reserve contributed to the crisis that we -- >> the '08 crisis? the answer is no. and i wrote a long part of a paper for the brookings institution. >> rose: right. >> which

. >> rose: if, in fact, you will have criticized eitherrevious administrationith paulson, treasury secretary, tim geithner at new york fed and ben bernanke at the fed or larry summers is inthe wte house, what would be your criticism of what they did to rescue e economy? >> thedid not give enough to the homeowners. they did not care enoh about e homeowners. they threw all of their efforts and money at the bas. i understand that because the banking system is crucial to this... >> rose: financial system. >> and we need to have it working. >> rose: so you're saying they should have turned that but then turned to the housing? >> correct. it was such an afterthought. it was so not important to them. it was so evident to most people th the banks came first and main street came second and that fed into a dangerous perception that there are two sets of rules. one set for powerful and wealthy institutions and another set for main street and everyday folks. >> rose: what happened to the populous rhetoric, though, making that point that they're bailing out wall street but not main seet? >> i hear in the my e