asked people coming for what colored man could get educated and they told him about a college in tuscaloosa. so he saved us and went to college. his first year went great and after the first year they said how are you going to pay for your second year and he's about as cotton and he said well you were out of luck. hauer those boys coming to college? he said you see they want to be presbyterian ministers, so they have work called a scholarship and my grandfather said you know, that's exactly what i wanted to become a too. that's exactly what i had in mind. [laughter] and my family had been presbyterian and college-educated ever since. [laughter] they were very industrious people but also ingenious to finding ways to education. >> and the republican party -- the party of lincoln i can't quite say that it stayed that way -- >> we are pretty much a republican. >> except for me. >> except for rebuke. [laughter] >> [inaudible] >> in fact my father was a republican for a totally instrumental reason. at the beginning, connie mentioned the south and birmingham was the most segregated big city in ame

and they told him about little stillman college which was in tuscaloosa presbytery school. so he went off to college. in his first year lake ray. and after his first year, they said so how are you going to pay for her second year? he said one of cotton. they said you're out of luck. he said the hobbit those boys go to college? they said they want to be presbyterian ministers, said they have what's called a scholarship. and my grandfather said you know, that's exactly what i wanted to be, too. that's what i had in mind. [laughter] and my family has been presbyterian and college-educated ever since. [laughter] so they were very industrious people, but also a little bit ingenious in finding a way to education. >> into the republican party as well. the party of lincoln i can't say quite stay that way. >> the wii is pretty much republican. [laughter] >> while in fact, my father was the republican for a totally instrumental reason at the beginning. condi mentioned the south. in birmingham was the most segregated city in america. and he was 1952. my parents were actually not marri

>> having our auburn team and come in tuscaloosa and coming out victorious, i'm a little confident. it's exciting and it's so much fun and people are so excited. i'm sure they are in oregon. and it's just one of the great things about america. that people can pick out something other than politics and have some fun with. >> absolutely. a little bit of an anecdote. well, let me turn to the business at hand and thank you very much for your testimony, mr. chairman. i wanted to start by asking a little bit around the qe2 policy. as i understand it, you could summarize it by saying that in buying these bonds, you are injecting more money into the economy. doing so reduces the interest that would be bourne on those bonds that would encourages more people to hold less of those bonds and invest more in either corporate bonds or perhaps stocks and there was a constitution effect to invest in american business. so that's kind of one category. another category would be that in doing this, one also creates more pressure in terms of those economies such as trying to switch our our pegged exchang

>> having our auburn team and come in tuscaloosa and coming out victorious, i'm a little confident. it's exciting and it's so much fun and people are so excited. i'm sure they are in oregon. and it's just one of the great things about america. that people can pick out something other than politics and have some fun with. >> absolutely. a little bit of an anecdote. well, let me turn to the business at hand and thank you very much for your testimony, mr. chairman. i wanted to start by asking a little bit around the qe2 policy. as i understand it, you could summarize it by saying that in buying these bonds, you are injecting more money into the economy. doing so reduces the interest that would be bourne on those bonds that would encourages more people to hold less of those bonds and invest more in either corporate bonds or perhaps stocks and there was a constitution effect to invest in american business. so that's kind of one category. another category would be that in doing this, one also creates more pressure in terms of those economies such as trying to switch our our pegged exchang

>> having our auburn team and come in tuscaloosa and coming out victorious, i'm a little confident. it's exciting and it's so much fun and people are so excited. i'm sure they are in oregon. and it's just one of the great things about america. that people can pick out something other than politics and have some fun with. >> absolutely. a little bit of an anecdote. well, let me turn to the business at hand and thank you very much for your testimony, mr. chairman. i wanted to start by asking a little bit around the qe2 policy. as i understand it, you could summarize it by saying that in buying these bonds, you are injecting more money into the economy. doing so reduces the interest that would be bourne on those bonds that would encourages more people to hold less of those bonds and invest more in either corporate bonds or perhaps stocks and there was a constitution effect to invest in american business. so that's kind of one category. another category would be that in doing this, one also creates more pressure in terms of those economies such as trying to switch our our pegged exchang

>> having our auburn team and come in tuscaloosa and coming out victorious, i'm a little confident.s exciting and it's so much fun and people are so excited. i'm sure they are in oregon. and it's just one of the great things about america. that people can pick out something other than politics and have some fun with. >> absolutely. a little bit of an anecdote. well, let me turn to the business at hand and thank you very much for your testimony, mr. chairman. i wanted to start by asking a little bit around the qe2 policy. as i understand it, you could summarize it by saying that in buying these bonds, you are injecting more money into the economy. doing so reduces the interest that would be bourne on those bonds that would encourages more people to hold less of those bonds and invest more in either corporate bonds or perhaps stocks and there was a constitution effect to invest in american business. so that's kind of one category. another category would be that in doing this, one also creates more pressure in terms of those economies such as trying to switch our our pegged exchange ra