>> nothing wrong with jersey, tobin, here's the problem and what it is. they'll pay the mortgage mitigator, the mortgage servicer a thousand dollars and give them a thousand dollars every year for three years and they make a lot more money charging late fees and legal fees and throwing everything into the mortgage and certainly, they'll lose a lot of money, a lot of money if they drop the mortgage rate and there is no incentive for the banks to do it. but the point here is, isn't what they are doing or not doing, the point is why did they spend $27 billion so far, where is all the money and there's a lot of fraud and corruption there somewhere. we should find out. >> duh on that one, eric, right? >> and the problem has been, julia, the banks have been demanding certain documents from the homeowners. and, that is in reaction to the whole subprime mess. they want to make sure they are making a good loan. >> well, sure, it is also part of what has been allowing them to drag their feet. and what they are doing is just trying to, you know, obviously, since we

the tobin tax has a lot of commonality of the loch ness monster.st when you think the proposal has disappeared, it raises the head. and these proposals have been batting around for a long time. and one of the things for a tobin tax to work it has to be globally orchestrated or it will only create diversion from one market to another. and it is difficult to actually see the political wherewithal, especially in the u.s. and u.k. hose two derive more of their income from the financial industry than the rest of europe or other countries. so that getting agreement on something on the scale of a global tobin tax, i don't attach a lot of feasibility. i will conclude my remark by saying that, yes, it was the case, no doubt, that in the post-world war ii period where we had fewer financial crises you had a highly regulated global financial flow. but we got to that after two world wars and a great depression. so, turning the clock back from the era of high capital mobility took two world wars and a great depression. we are not there. >> will it happen? >> fi

it clear the prime minister was wrong, is wrong now on the financial supervision, is wrong on the tobin tax and wrong to build an economy based on that, is wrong not to back the united states on banking reform and these failures are another part of a miserable record in which we have the biggest budget deficit in peacetime history, largest bank bailout in the world, the deepest recession since the 1930s, the weakest recovery in the g 20 and backing some of the proposals of the united states and banks in the future. >> we helped the economy through the recession. we supported the recovery and when he was in government, when he was in government, when he was in the cabinet, there was double the number of repossessions. when he was in government there were three times as many bankruptcies. when he was in government in recession there were four times as many job losses. i have to say that his reversing is even worse than mine. we are building up britain and they are trying to talk it down. thank you, mr. speaker. let's discuss with our colleagues in the treasury to ensure we get the decisio

so first, we will start over here with tobin van ostern, a friend of mine who is now a network associate for campus progress, which is a project, first center foreamerican progress. he can be reached at at toe bin van ostern on twitter. his web site is toe bin van ostern.com. he went to g.w. here, he got his degree in international affairs an more importantly, he was one of the co-founders of student for brac barack obama. and interestingly enough, he's the only person i know who has played ping-pong with the obama twins. so -- and i think he lost too. i don't know. at henry here is senior white house correspondent here in d.c. he has covered -- he's covered capitol hill for many years, before being at the white house. he has won the everett dirksen award for distinguished reporting. he worked at roll call for a number years as well. he can be reached at at henry cnn on twit early. and -- twitter. >> wow, i'm trying to catch up to ashton kutcher. >> and he is an avid new york yankees fan. >> wow. >> i guess you're a little bitter about the world series. >> here we have julie germany, who

. >> tobin, some people predict that by 2020, the only way -- or the main way that we're going to beccessing the internet is through our cell phone. so i guess in the short term, how do you think that the mobile technologies are going to be used in 2010? >> that's a great question. you know, it's hard to predict simply because it is always changing. with the obama campaign, we did a lot of sort of organizing with mobile, with events and that kind of thing. then as you mentioned earlier with haiti, up see a much better example of donating. $5 million raised by red cross was done in $10 increments. that's 500,000 people donating through their cell phone. you're having all these different factors come together, theels new ways of doing things, at the same time that cell phone technology is dramatically expanding. google is launching its phone. they already launched the android operating system. and it's allowed people to, again, get more personalized information. and i think what campaigns are going to need to do is realize that it's not the same as something like an email list. it's no

i will not pretend tobin is not difficult to muster. as i was coming year -- i will not pretend that hope is not difficult to muster. i would ask that my colleagues -- what would it be like to look around you and see every federal building collapse -- the white house, all of them, and that is what we have seen in haiti, and as i was flying up here from port-au-prince to montreal, heading to a conference on coordinating responses to this earthquake, i did the painful math and counted close to 60 colleagues and friends and family members who have lost their lives in the span of a minute. most of the earth -- most of them were in port-au-prince for a meeting on disaster risk reduction. partners in the sister organization provide health to the rural poor by focusing on training and employing local talents. we have grown a great deal over the years. we are currently serving more than 1.2 million and count 5000 employees, most of them community health workers. not all our colleagues survive, but the vast majority did survive and spent the las

it was proposed by an economist named james tobin who won the nobel prize, but the reason why treasuryrejected that, they concluded if only one country like the ninth insisted that all the activity would migrate to another country. -- if only one country like the united states did that, all the activity would migrate to another country. the one of the banking in a vindictive manner -- even if it is politically satisfying in the shorter term in the longer term it does not help the economy. i think what they have done it struck in some sense a compromise which exactly not bad. yes, it will in some sense discourage banks from doing business in the united states but not excessively so and other countries are doing something similar. host: secretary geithner said he wanted other countries to impose a similar tax on banks. what is the likelihood? guest: i think it is quite high. it may not take exactly this form. one of the inspirations for what he did, a few months ago the british were proposing much more severe tax, not on the banks themselves but the bonuses they pay to traders -- 50%. im

i will not pretend tobin is not difficult to muster. as i was coming year -- i will not pretend that hope is not difficult to muster. i would ask that my colleagues -- what would it be like to look around you and see every federal building collapse -- the white house, all of them, and that is what we have seen in haiti, and as i was flying up here from port-au-prince to montreal, heading to a conference on coordinating responses to this earthquake, i did the painful math and counted close to 60 colleagues and friends and family members who have lost their lives in the span of a minute. most of the earth -- most of them were in port-au-prince for a meeting on disaster risk reduction. partners in the sister organization provide health to the rural poor by focusing on training and employing local talents. we have grown a great deal over the years. we are currently serving more than 1.2 million and count 5000 employees, most of them community health workers. not all our colleagues survive, but the vast majority did survive and spent the las

i will not pretend tobin is not difficult to muster. as i was coming year -- i will not pretend that hope is not difficult to muster. i would ask that my colleagues -- what would it be like to look around you and see every federal building collapse -- the white house, all of them, and that is what we have seen in haiti, and as i was flying up here from port-au-prince to montreal, heading to a conference on coordinating responses to this earthquake, i did the painful math and counted close to 60 colleagues and friends and family members who have lost their lives in the span of a minute. most of the earth -- most of them were in port-au-prince for a meeting on disaster risk reduction. partners in the sister organization provide health to the rural poor by focusing on training and employing local talents. we have grown a great deal over the years. we are currently serving more than 1.2 million and count 5000 employees, most of them community health workers. not all our colleagues survive, but the vast majority did survive and spent the las