israel needs defensible borders and jerusalem must remain the united capital of israel with continued religious freedom for all faiths. [applause] the territorial question will be discussed as part of the final peace agreement. in the meantime, we have no intention of building new settlements or expropriating additional land for settlements. but there is a need to enable residents to live normal lives, to allow mothers and fathers to raise children like families everywhere. the settlers are neither the enemies of the people nor are they the enemies of peace. they are our brothers and sisters. [applause] pioneers, zionists, principled people. unity among the last -- unity among us is essential. unity among us will help us achieve reconciliation with our neighbors. that reconciliation must begin today by altering existing realities on the ground. i believe a strong palestinian economy will strengthen peace. it will strengthen the moderates, it will weaken the extremists. if the palestinians turn toward peace and fighting terror and strengthening governance and the rule of law, in educat

we stand here in front of the capital of the united states, a beacon of freedom to the world with a great history of free speech and open discussion. on this side of the capital, we stand with people who tk to heart and to mind the words of our founders, that in our declaration of independence and our constitution, our words that talked about every person being equal and endowed by their creator. in doubt by their creator, but not by the state -- and doubt by their creator, not by the state for life, the lip -- life, liberty, and the pursuit of happiness. some people paid that price tiananmen square . they paid for their lives and their liberty. this week, there are also observances in eastern europe about freedom emerging there at this time 20 years ago. for those of you who are old enough to remember, you would have seen that the students gathered in the square in may and in the days leading up to june 4, were inspiration to the world. to the world. they inspired others to have the courage, and they had a drum beat of liberty and freedom that was felt around the world. what they wanted

companies to conduct business abroad also the flow of capital to the united states. the possibility that the entire 50-state system in the u.s. would be deemed equivalent appears questionable at best. thus, without a federal involvement with an entity for international policy issues, the insurance industry will continue to be disadvantaged in these equivalent discussions. the crept multi-state is an anomaly in the regulatory world. it is regulated with constitutional authority to make decisions for the country and to negotiate international insurance agreements. it was inchoo encouraged by supervisory recognition in the national insurance act of 2008, s-40 introduced in the last congress. supervisory recognition seems to establish a system where it recognizes other countries and allows reinsurers to conduct business based upon their home jurisdictions. a single national regulator could negotiate an agreement with regulatory systems of foreign jurisdictions that achieve a level of regulatory standards, enforcement, trust and confidence with their counterparts in the u

capital budget. the federal government is the only political entity in the united states that does not have a capital budget. to have a capital budget and do the things we can do with a capital budget you have to change the way the ceo and omb score, they can score the total investment, just the debt service like we do in pennsylvania. we score, we paid for in that year, a federal capital budget, even if the capital budget doesn't fund a total infrastructure picture but just the infrastructure bank, it could work. so the time calls for bold and strong actions. if we do this, the obama administration and this congress will be remembered the same way president eisenhower and the congress he worked with is remembered for building the national highway system. >> thank you very much. i didn't want you to speed up at the end, but you got me so excited about high speed -- [laughter] thanks very much. mr. szabo, we would like to hear from you. >> thank you, chairman lautenberg, senator thune, senator hutchison and members of the committee, it is a pleasure to be here for president obama, vice president biden

i represent southeast texas, the energy capital of the united states. 20% of the refineries in this country that help all these folks all over the fruited plain with energy i represent them. this week alone we've had 86 people call and say vote for this bill. we've had 1,578 people in my district call and say, vote no against this bill. almost 20 times. i'm an advocate for those people in southeast texas. they believe, as i believe, we're going to close america's energy with this bill. the c.b.o. and the e.p.a. says there's not going to be much difference in the climate if we pass this deal. bummer. it's not even going to work. and it's more important to realize this bill is about control, government control of our lives, our businesses and everything we do. washington, d.c.'s going to dictate how we live and how we shall live and how our businesses will live and it's all bad because d.c. is in control and not the people. this is a bad bill. vote no. the speaker pro tempore: the gentleman's time has expired. the gentleman from california. mr. waxman: madam speaker, i am pleased to yield at

capital impact is working with five community-based organizations to help finance 17 projects that will create 558 housing units. despite their good work in serving low income communities and disadvantaged populations, n.c.b. capital impact is not eligible for assistance authorized under the community development banking and financial institutions act of 1994. which is administered by the cdfi fund. the fund has ruled it cannot certify n.c.b. capital impact as a cdfi because of the corporate structure of its parent, n.c.b. in short, n.c.b. capital impact is shut off from critical sources of financial awards that are needed to maintain their housing and community development efforts. the interest of n.c.b. capital impact in gaining cdfi certification is two fold. first it has a track record that is comparable to other organizations that receive cdfi status, its mission is dedicated to working with low income populations and communities, second, increasingly in the community development finance field, cdfi certification is viewed as a good housekeeping seal of approval in working with her federal agencies and oth

they are important for capital formation and millions of investors in the united states so the impact these securities derivatives can have on the primary securities market is a concern i would hate to see be decoupled. it has been as many durham of attacks have banned from their primary markets over the last 15 or 20 years or so but to me that's the most important linkage between the securities derivatives and securities markets and the same would be true for the markets at the cftc regulates. >> go ahead. >> i think you raise a very important point. the securities and options markets that the s.e.c. regulates and the fruits markets with the cftc regulate, and now we're bringing this market of derivatives, hopeful well congress' help, under regulation. and derivatives have a lot of atrebts of securities and a lot of attributes of fruits, and in some cases, more attributes towards futures, and those products, knowing we have broad agreement on some of those, would be best maybe regulated under the cftc, and some would have far more attributes of securities that can clearly influence w

in recent years, the united states has been heavily dependent on large capital inflows from abroad.a significant portion of the treasury's n

capital investment. we will need several of those across the united states. how do we get there? >> i think that is a very important question, and i think there are many people who are pushing to get the reprocessing situation builds and say, see, we have handled the waste problem. i do not think that is right. i think there is no question we can do this. for the reasons that you are talking about, i think is important that we do it right. we have stumbled on and a lot of bad habits in this process. there is no hurry to get to it. we could go a long time on the once-through process. i think it is in poor to get the right process so that it will be economical and take whatever time it takes to get there. i am convinced we can get there. i think it would be a mistake to hurry too fast to get it and end up with a bomb process. we have done that a couple times already. >> any of the rest of you want to comments on his comment that nuclear can do it all? >> yes, senator. first, i would note that it is french law that they must build a repository, and we may take solace in the fact the

that is one of the basic tenets of free market capitalism but interestingly, last month, crude oil inventories in the united states were at their highest level on record while demand for oil in the united states dropped to its lowest level in more than a decade. in other words, there was a record amount of supply and less demand than we have seen over the last 10 years. further, the international energy agency recently predicted the global demand for oil would drop this year to its lowest level since 1981. what's going on? demand is going down, supply is high and what the fundamentals of economic theory would tell us is that gas and oil prices would go down. but as everybody who fills up their gas tank today understands, that is certainly not the case because gas and oil prices are going up. despite the record supply of oil and reduced demand, prices are going up, not down. in fact, the national average price of gasoline has cropped dd from $1.64 late last year to over $2.60 today. and crude oil prices recently reached a seven-month high. the american people have a right to ask, why is this happening in con

since the 1967 war, israel has maintained that -- a united jerusalem is indivisible in the eternal capital of israel. and in -- november 14 of 2005, congress mandated that the embassy be moved to jerusalem. we mandated our embassy be moved from tel aviv to jerusalem in 2005. we did give the president waiver authority under certain circumstances. every single year there's been a waiver granted that does not allow our embassy to be moved to jerusalem. i think that's wrong. it's time to change that. my amendment would have said that we move our embassy and start bidding the embassy in jerusalem now just as it was proposed and passed by this congress in 2005. so i'd like for my colleagues on the rules committee, on the democrat side, to explain to me why these three amendments were not made in order. one dealing with something we have already done and that was to order our embassy to be moved to -- in israel to jerusalem. we have already ordered that. the speaker pro tempore: the gentleman from indiana's time has expired. mr. burton: i hope you'll explain. the speaker pro tempore: the gentlema

in recent years, the united states has been heavily dependent on large capital inflows from abroad. a significant portion of the treasury's new debt, in fact, 74% since december 2000 has come from foreign interests. this happens -- has happened because many nations have had large trade surpluses with the u.s. or were awash with petro dollars or had no need to stimulate their own domestic economies. the inflow allowed the united states to borrow at very low rates but all of that has changed now. the trade surpluses have disappeared. the petro dollar balances have shrunk and many countries are trying to stimulate their own economies. not to mention the fact that other democracies in the world are also in the market, borrowing huge amounts of money. so we have to be very, very cognizant that the ability of the united states to move forward and buy the time for health reform to begin moderating the growth of cost is limited. and what this means is that, i think, the cbo cost estimates and the debate around the spending in these programs is critically important to our future. now, i real

capital regime can be improved. policy issues associated with the otc derivatives are not limited to the united states. the markets are global and issues are unlikely to be fully addressed without international coordination. much work must be done but with effective oversight by supervisors, putin risk management by end users and dealers and appropriate changes in the regulatory structure, derivatives can continue to provide significant benefits to businesses and investors to use them to manage

the way he spoke before an arab audience in what is the most important arab capital and said that the bond between the united states and israel is unbreakable. i think those are very, very important words and courageous words coming from the president of the united states in an arena that nothing has ever been said like that before. from the president of the united states. in such an arena. but i want to also focus on some of the other things that have happened. namely, the push in some quarters to force israel to make unilateral concessions, mostly about settlements, but union rat ral concessions in return for nothing. i believe that the palestinian-israeli problem must be settled by negotiations and a two-state solution. but i believe that forcing israel to make unilateral concessions up front is wrong policy. the agreement will be made ultimately by israelis and palestinians, not by americans, and if israel is going to negotiate settlements and other things as israel will, then simultaneously, the arab states, the palestinians, i should say, should also be negotiating and giving up things simultaneously.

yesterday i introduced house joint resolution 57, the preserving capitalism in mesh amendment, proposed amendment to the united states constitution, it came about as a result of my discussion with people back home because several people said they did not believe enough people were taking a stand to say this is wrong. i don't believe this should have happened in this manner, i know we have difficulty but i don't agree with this structure, i don't agree we should own general motors. the constitutional amendment would limit the ability of the federal government to acquire an ownership interest in a private corporation. it does give the government the ability to issue loans, it also allows us to invest in public authorities, public use corporations and also allows investment tz by government pension funds. the -- turns out as i was discussing this with people in my community that limiting government ownership over private enterprise is not a new idea. we found that at least eight state constitutions have in some form limited the state's ability to acquire stock or equity in a company apparently as a result of the

united states. this is an economic question @@%&m @ husn# on the human capital side of the equation we have seen steady progress on the other side. this was in a recent report by the oak ridge national -- laboratory, we found a large number of graduations from all levels, and this increased every levels, and this increased every yearno carrierringconnect 1200 build here. obstacles though. well we have seen progress on many fronts, there has -- while we have seen progress on many fronts, no one has made the decision to build a reactor. we have an approved, but untested licensing regime. until the first licence is issued, not many utility boards will commit more than a quarter of the company's value on the project. the one policy that appears to address this issue is the program applicable to new nuclear reactors. progress has been slow since it was enacted four years ago, is not possible to overstate how crucial this -- it is not possible to overstate how crucial this program is for new construction. this program must be expanded and modified, as was done a comprehensive energy legislation that was favo

united states of america. [applause] >> it's why we recognize that american entrepreneurial capitalism and a free market will work and that european socialism will not work in terms of productivity and prosperity. [applause] >> because america is unique, it is worthy of defending. and so my second point is, we must ensure national security and homeland security. we need a great national debate on five key questions: is the world dangerous. are there people in governments who would like to destroy us. what is it worth to keep america and americans safe from those dangers. what strategies can defeat our opponents. what metrics can we use to tell if the strategies are working or failing. under the obama administration, we have fallen back into the eutopian fantasies and self-deception of the 1977 carter administration and the 1993 clinton administration. the reagan movie is a remarkable portrait of the contrast between idealistic realism and idealistic eutopianism. let me remind you. ronald reagan and his idealistic belief in democracy announced firmly that our goal in the cold war was we win and they lose, that our

united states and britain. i had two architects written, and they anticipated that its core principles, which included capital controls and regulated currencies -- they anticipated that these principles would lead to relatively balanced, economic growth and would also free governments to institute the social democratic programs, welfare state programs, that had enormous public support around the world. and to a large extent they were vindicated on both counts. in fact, many economists called the years that followed, until the 1970s, the golden age of capitalism. that golden age led not only to unprecedented and relatively egalitarian growth but also the introduction of welfare state measures. keynes and white were perfectly well that free capital movement and speculation inhibit these options. professional economics literature points out, which should be obvious, that the free flow of capital creates what they sometime call a virtual senate of lenders and investors who carry out a moment by moment referendum on government policies and if they find that they're irrational, meaning they help people instead of profits, t

market conditions the diversion of working capital from cargill for marching could be in excess of $1 billion. multiply this across all companies in the united states and the ramifications are enormous especially at a time when credit is critically tight. kevin colgan from the corporate treasurer caterpillar, our understanding of current and pending regulation in this area is it would require clearing function which would standardize terms like duration and amount. any standardization of this type would prohibit us from matching exactly the terms and underlined exposure we are attempting to hedge. this in turn would expose us to uncovered risk and introduce the list volatility into our financial crisis. i have a number of other examples in which i will insert for the record mr. chairman, and if possible i'd like permission of the committee to answer the letters that i received in response to these inquiries into the record and i may get another in the next couple of days. the bottom line mr. german is i completely agree with the need to do as much as we can to assure that we have covered the risks in our economy that have been created by the

united states. this is an economic question largely dependent on the continued progress and licensing of construction in the coming years. on the capital side of the question, we of steady progress of the last five years with growth expected to increase. a recent report found that continued expansion -- most important, it showed sustained increases every year over the previous year. as for the industrial infrastructure, the rapid growth showed that market signals on in the united states work. as more and more show varying levels of commitment to build reactors, support is coming on line. if you build it, they will come. the evidence supports this. we have yet to see a single board decide to build a reactor. some of the obstacles though. well we have seen progress on many fronts, there has -- while we have seen progress on many fronts, no one has made the decision to build a reactor. we have an approved, but untested licensing regime. until the first licence is issued, not many utility boards will commit more than a quarter of the company's value on the project. the one policy that appears to address this issue is the program applicable

capitation payment. now, beyond these, and you may be surprised at some of the things i thought were easy things in the payment unit, i think the big challenge is, but the big rewards are per episode bundles and accountable care organizations and i would say that, know, what you just heard about in massachusetts, is i shouldn't have said accountable care -- that's a buzz word. let's just say capitation like structures, so let me say a few things about per episode bundles. first, the key is including all the providers involved in an episode of care. our system has long had experience using bundles for a single provider, but the point here is to use a bundle that crosses all the providers involved in care. and this provides incentives for an efficient delivery an episode of care, provides incentives for the different providers to choose efficient provider partners, so that the o orthopet does the procedure at the most expensive hospital, they never get a reward, but if they do it at a more efficient hospital, less expensive, they might have not have to change anything they do and this way they could be a winner in pe

that, a ceremony at the capital march the 20th anniversary of the tiananmen square protests and the violence that followed. later, a house budget hearing for the special operations unit. >> there is still time to get your copy of it sees them's congressional directory. for information on house and senate members, cabinet members, supreme court justices, and cabinet members. it is $16.95. you can also call 1-877-c-span. >> president obama delivered a speech at cairo university in egypt. he called for a two-stage solution in the middle east. it was a unified effort against violent extremism. the speech was broadcast worldwide. it is about one hour. [applause] >> ladies and gentlemen, the president of the united states. [applause] >> thank y

using capital for their -- from their insurance subsidiaries, with the approval of various state insurance regulators, the securities lending division in tandem with the financial products unit put at risk the entire company and the broader financial system. half of this came from the securities lending division, the other half from the financial products unit in terms of the overleveraging. with more than 250 subsidiaries operating in 14 states and more than 100 countries, aig is the poster child for both the need to open up lines of communication among regulators worldwide and the need to establish a domestic insurance regulator with the ability to oversee these large and complex institutions, and again, mr. chairman, thank you for holding this hearing. >> thank you, mr. royce. we'll hear from the gentleman of georgia mr. scott for one minute. >> thank you very much, mr. chairman. i think this is of course a very important and timely hearing. the issue is, of course, i think what is the systemic risk as relates to our insurance industry. and where and how is it best regulated at state or federal level? but i think that the major mod thael we are using, aig, is flawed at it

units to just more than 9 million. my fellow dealers every brand of both gm and done jim have suffered huge financial losses in a very short time the amount of working capital necessary to fund their day-to-day operations has been severely diminished. in addition to bank loans to dealers for working capital are essentially nonexistent. as i said before you today, i am a franchisee of a company going through a painful restructuring committee and restructuring that is not only necessary but critical to our future of our customers suppliers, dealers, employees and other stakeholders. some of my fellow dealers many of whom i consider friends received notices of this past few weeks that they will not be part of the new gm. well, i cannot advocate determination of any individual dealership. i will tell you that the dealer council will work vigorously with a senior gm management over the past two and a half years to address circumstances that we dealers face today. during my tenure as chairman of meetings between the nbc and gm management have and will continue to be led with dealer profitability as the primary goal of our dealer network. that is because dealer pr

capital investment. my own calculations is that we're going to need, for we go the direction you're outlining, we're going to need several of those scattered across the united states. how do we get there? >> i think -- that's a very important question, and i think that there are many people who are pushing to get the reprocessing situation built and say, see, we've handled the waste problem and that's the most important thing. i don't think that's right. i think there's no question that we can do this. but for the reasons that you're talking about, i think it's really important that we do it right. and we've stumbled in a lot of bad paths in this process. there is no hurry to get to it. we don't -- we have -- we could go a long time on the once-through process so i think that it's really important to get the right process so that it will be economical and would take whatever time it takes to get that, i'm convinced that we can get there, but i think it would be a mistake to hurry too fast to get it and end up with a bum process. we've done that a couple times already. >> any of the rest of you want to comment on his comment that nuclear can do it all? >> ye

capital markets ranking member. jeb henserling who's financial institutions. ron paul worked on this plan. has endorsed it. he's not here. congressman miller supports the plan. so we have come in a united way. we have two other people who have worked on it also. we have tom price who is a senior member of our committee and mike castle. mike is not here. most of you know mike. he's very involved over the past few days in making some decisions. but they are very supportive. and then we have our vice chairman of the committee, randi nugenbauer. we've met with randy's office and he has scheduled all the meetings and we have had several meetings. we've ironed this thing out and we knew we needed to get it right. let me say this, financial services, regulatory reform and the structure of our regulatory system is of critical importance and we knew that we had to get it right. we're offering today our solutions to address the causes of the financial crisis that we've all been going through, us and the families we represent. and to create a more transparent and accountable regulatory system. you'll see that a lot of what we propose here is about accountability and transparency and to create a s

units of sales, uncle. i would like to let everyone know that i am one of their performance but i have always been 150% am i required minimum sales responsibility and 100% of my required working capital. my customer satisfaction rating has been among the highest in the state of pennsylvania for many years and i have always been profitable. now i would like to talk about why must dealers do not cost the factory any money, or very little money. in the case of my dealership the total cost of the factory i really believe would be about $2000 per year. to arrive at that number i'm guessing my district manager saved 52000, i divide up by the 2060th in my district and i come up with the 2000 per dealer cost. last week at a senate hearing jim press said that each dealer cost the factory about $41000 per year which is a far cry from the 2000 i'm coming up with. he gave his side of the story as to why chrysler needed to h)k t @ @ @ @ >> that cost the factory $1.5 billion in lost revenue. what he didn't say is that when we are gone, we will lose zero hundred 40 units and the factories are going to lose $4 billion annually. you are going to lose 140,000 units. no wonder you are in trouble. i don