. >> you know, one of the things we this committee and in congress is we want to see the united states trade, right? 95% of our market is outside this cry american here in the united states. we want other countries to buy american. my time is up, but i want to ask your help. please deliver the message that trade is good for the global econ united states economy, equals jobs. thank you. >> mr. pisani is recognized. >> thank you, mr. chairman. i want to clarify something that came up during dr. mcdermott's o the joint tax analysis that was done. i want to reemphasize the stats about that report. the estimates are not complete and secondly, they're not comprehensive. in fact, only 60 out of 150 hav. and those are preliminary. and that gets us to a rate of 25%. i'm optimistic we can get to a lower rate once we have a full analysis of all these measures. so i think we need to keep that in mind the joint tax analysis is not comprehensive at this stage. and our committee wilpoint. professor hanlan, we've all been very concerned about the vast number of temporary provisions in the tax code and the u

>> one of the things we struggle here with this committee and congress, we want to see the united states trade. 95% of our market is outside this country. we can't all buy american here in the united states. we want other countries to buy american. my time is is up, but i want to ask your help. please deliver the message that trade is good for global economy. global economy good for the united states economy equals jobs. thank you. i yield back. >> more basani is recognized. >> thank you mr. chairman, i want to clarify something that came up during dr. mcdermott's line of questioning. that is the joint tax analysis that was done. we pointed a couple things out. i think this bears emphasis -- reemphasizing these facts about that specific report. first and foremost, the estimates are not complete and secondly, they're not comprehensive. in fact, only 60 out of 150 measures have been scored. those are preliminary. that gets us to a rate of 28%. i'm optimistic that we can get to a lower rate once we have a full analysis of all these measures. so i think we need to keep that in mind that the joint

united states. since the international financial crisis broke out china has been taking measures to increase imports especially imports from the united states. investment in trade promotion sent by the chinese government to the united states every year from 2006 to 2011 have made purchases of more than $100 billion. china's overall trade surplus has dropped from the pre-crisis level of over $300 billion u.s. to $150 billion. in 2011 china's trade to gdp ratio dropped from over 7% to 2% and moved within the reasonable range by international standards. the reform of the r and d exchange rate mechanism has played an important role in this process. to be frank it is very important for addressing china-u.s. trade imbalance that the states adjust its economic policy and structure including removing various restrictions on exports to china in particular easing control on civilian hi-tech exports to china as soon as possible. this will help balance china-u.s. trade, stimulate economic growth and job creation in the united states, and improve the balance of u.s. international payments. china has proposed to the united states a framework for promoting two way trade and i

>> reporter: the united states isn't the one doing it. instead it's the world trade organization. that agency said united states labeling laws violate trade rules and their beef is with beef. >> the precedent is that if they are willing to rule against beef labels, they may be willing to rule against vegetables as well. it's a slippery slope. >> reporter: and a flightenning one for moms who want to know what they are feeding their family. >> i would be very caution if it didn't have the country of origon, who are they trying to protect? i'm looking out for my family. >> reporter: a family that doesn't want to solve a mystery about the food that makes its way to their table. abc 2news. >> united states has an option to appeal the decision made by the world trade organization though it's unknown if it'll. meat packing groups from the united states have urged the obama administration not to appeal the decision while consumer and rancher groups think there should be a fight. >>> we go from meat packing to guess who is pack heat these days. you would be surprised. >> we are going to giv

with iran the united states you understand for its trade would say indio it's trade with china the issue is the united states is not currently in a position to punish china so this is a lot of hope in the water you know that is being put out there the chinese are playing this very close to their chest they have been meeting the indians they've been discussing things with the turks to see if they can create so got exemptions to the american saying so one should not come to this question of sanctions believing that the united states here is the biggest dog at the table all right and finally we just have a little bit of time left but i've got to say another you turn on any station and there's a discussion about iran and there are some people who say that war with iran is not only imminent that is actually a good idea critics of the critics say iran doesn't have that much conventional military capability and wouldn't be able to retaliate other than with their oil so might as well strike them what's your response to this sort of way of thinking there are

with iran the united states you understand for its trades would say india oh it's trade with china the issue is the united states is not currently in a position to punish china so this is a lot of smoke in the water you know that is being put out that the chinese. these are playing this very close to their chest they have been meeting they knew as they've been discussing things with the turks to see if they can create so good exemptions to the american sanctions so one should not come to this question of sanctions believing that the united states here is the biggest dog at the table.

weeks as concerns about europe's debt crisis outweigh signs of an economic recovery in the united states. is trading at over one hundred and eighteen dollars per barrel while the open. markets in asia dipped down after greece approved the long awaited austerity agreement. losing over half a percent while down over one one point two percent financials are broadly lower carmakers were weaker in tokyo with. one point three percent. markets. losing over and. banking energies dogs. a multi-billion dollar merger between russian miners miners metal failed newspaper cite sources close to the talks saying not satisfied with the terms the owner of russia's largest gold mine. that the firm doesn't need additional assets in the country the company now wants to merge with one of its. gold metal are joining worth around seventeen billion dollars merger could have created the ninth biggest in the world. well some of russia's richest people may soon find themselves subject to one of tax prime minister put. away must be found to close the subject unfair privatizations in the ninety's he suggests that tycoons who too

we have asian allies that want open trade with the united states. china is pushing back someone -- back somewhat. we need to make it clear we want open trade in this region. we want china to be a part of it, but they have to play by the rules. the rules are the rules of trade set by wto and other organizations. given that the economic growth in that area is going to be moving forward, if we're going to create u.s. jobs, we need to be looking at asia. china is to understand that. guest: i think it is important to note, too, that our long- time allies want china to be there as well. it is not just a matter of the united states having a long-term presence in asia because china is there. because there are concerns about china. it is because our friends and allies want us there as well. it is important that we develop those relationships. host: sets of the some of the numbers of u.s. trade from last year. the total number, more than $5 billion. -- more than $500 billion. that is a trade deficit of nearly $300 billion. guest: it is a big trade deficit. thi

was good as the dollar off that's the reason pegged it now the reason for the chinese trade surplus with united statesis not simply the chinese currency being undervalued it's all the american firms that took their own production for american markets off shore to chat. so when you produce all sure for your home market when the goods and services come back into united states they come in as imports so the trade deficit with china is at least fifty percent due to the all sharing of jobs and production by the american corporations now china is the u.s. largest foreign creditor so how much leverage does washington have to make. does how sorry how much leverage does washington have to make demands on beijing. well that to that question i think used to be clear that the largest creditor had a certain amount of influence but you see what's happened is the federal reserve has been monetizing the treasury debt and yet the interest rate stays erode so if the federal reserve is able to finance washington's deficits without some sort of hyperinflation breaking loose then the united states no longer needs china as

up against united states for decades that cameras are the japanese yen is up about five hundred percent against the dollar over the past several decades and they still have a balance of trade surplus with the united states and with most of the world no no no you cannot i mean that the politicians like to blame it on the chinese the chinese have big trade deficits with many other countries including germany and japan as you just pointed up and yet those current countries have a much higher cost of doing business much higher labor we do and yet there's still extremely competitive and it's largely because of quality and service and being attentive to the customers quality and speaking of germany merkel is going to be in china looking for beijing's support on the ailing euro she reportedly wants china to contribute via the i.m.f. to a financial firewall to stem contagion from the euro zone crisis what do you think china will and should say to her. well i have. i wouldn't i'm not buying european bonds if i were the chinese i would say no however the chinese do have another reason that they might it would be very cheap foreign aid for them it would be very cheap ways to buy infl

ply of crude oil with minimum transportation requirements from a reliable ally and trading partner of the united states with which we have freed trade agreements and further augments the security of this oil supply. if that rang true three years ago, it rings true more so today. again, one other thing we need to talk. the tar sands oil that has been the other side has demonized, they also need to realize that this oil is going to be developed. it's already developed in canada and sent here to tar refineries, the ones who are the best in terms of the environmental impact of producing this oil or it's sent toat a real simple ch me. if my choice for my kids' future, if i'm betting on canada or opec, i'm betting on canada. i urge my colleagues to vote against the markey amendment. >> the gentleman lady from california seeks time on her own accord, i believe. >> i do. >> she is recognized for five minutes. >> thank you, mr. chairman. this has ban very interesting debate, not only on this amendment but on others that have been offered. i've listened with a great deal of attention to what members have said on

they are based on the fact that it is 20% more expensive to bend a factor in the united states then among major trading partners. -- to manufacture in the united states than other men major trading partners -- partners. april 1, we will have the highest corporate tax rate in the world. it is also based on our energy policy, our regulatory policy and it does not take into account differences in labor costs. the 20% is the number we have imposed on ourselves, and we have an obligation to fix. if the partnership between the governments it is critical. i worked for a governor in the 1990's in virginia, and that is not that long ago but state -- at that time states have the luxury of competing against each other. every governor wants to say there are more private-sector jobs existing in their state than before they became governor, but today, as we have heard referenced several times already, we are in a worldwide competition for jobs. if the federal commit has to be a partner. one of the ways -- if the federal government has to be a partner. one of the ways they can be a partner is to reduce the 20% to all

week, i'll be continuing my work with governors from mexico to make our state, not just texas, a key trade corridor into the united states. [ applause ] there's tremendous optimism about the economic development in new mexico, and what we're doing along the border. in fact, a texas newspaper has seen what we've done, and they're worried. so said in an editorial. texas worrying about new mexico stealing their jobs. my friends, the more they worry, the better we're doing. we need to keep it that way. lowes also announced it is bringing 600 jobs to albuquerque, and we welcome them with open arms. i recently visited general mills as well, which just finished a $100 million expansion creating 60 new and permanent jobs, all while achieving the highest levels of environmental standards. i said last year that i believe we can support the growth of business and protect the environment. we aren't going to help those who play by the rules and punish those who don't. when intel needed an air quality permit, we held them to a high standard, and when they met those high standards, we got them their permit in less than four mont

and finally friday, the trade balance for december will come out in the united states. let's see where the markets are trading this hour. >> that's the latest in business. back to katherine. >>> yoshihiko noda may face back lash after the free trade agreement. japan will begin talks with eight other nations involved by end of february. ministers and government officials will have seminars at nine locations across japan to explain the discussions. the move aimed at laying the ground work for japan's participation. a group of lawmakers are voicing their concerns. they say japan should first study the effects of the new free trade agreement between the u.s. and south korea. members of the group will be meeting south korean lawmakers and leaders of agricultural organizations to learn more about their strategy and negotiations with the u.s. >>> the world is gaining a second. scientists will adjust the globe's most accurate timepiece, the atomic clock, june 30th, coordinated universal time, utc. the practice known as the leap second will be used for the first time in three-and

the world economic system, and that includes ensuring that there is a balanced trade flow between not only the united states and china but around the world. >> obama urged xi to recognize the importance of human rights. he said increased responsibility goes hand in hand with power and prosperity. xi said he hopes his visit will deepen mutual understanding and lead to greater consensus. he said the countries should build a cooperative partnership based on mutual respect and interest, but he suggested the two need to acknowledge their differences. u.s. leaders are extending an unprecedented level of hospitality to xi. vice president joe biden is accompanying him to most of his destinations. republican party leaders criticized the administration for being too soft on china. >>> chinese officials are in talks with counterparts in pakistan's air force. they want to sell the pakistanis a mainstay fighter jet. the deputy chief of the air staff said that china delivered one surveillance aircraft last month. manufacturers will deliver three more this year. pakistan bought the aircraft to boost its defense capabiliti

of the united states, who is a republican and the house and the senate to really get the united states back on its own fee. clearly facing major difficults, budget deficit, community debt, trade deficit, the resources of the united states is tremendous. they have to get their house in order. the problem with the united states is political bicering with both parties. as a very important investor, one of the most important foreign investors in the united states, would you like to see barack obama re-elected or would you like to see one of the gop candidates running this country? >> i said neither democrat nor republican, i'm a royalist. so i really hope that the united states people choose the right leader, republican or democrat, obama, otherwise, we will be happy to the united states, regardless, united states is a great country, down but not out. i believe if they stop the bickering between themselves, get the house in order, united states could be back on track very soon. >> final question, your highness, you mentioned it a moment ago, that was about the dividends, i know you want the regular dividends, citi has indicated he would see another div dend. are you expecting one

there is a trade deficit the united states exports something on the order of the $30 billion to chinatalk about general motors. you go to china -- i was there a couple of years ago -- buick is big in china. general motors;' profitability is in large part because of that market in china. the united state has a lot going on wi its relationship with china at aand although foreign policy and military policy is with our struggles, but that trade relationship is underpinnining it between his country. >> what could be more american than an "inside washington" coffee cup made in china? couldn't they make peace and in maryland or toledo or somewhere? >> they could and should trade . >> you would pay more. >>e e more th consumers we are citizens -- i hope. this conversation takes place evertime there was a chinese leader with an american leader. talk about currency, we talk about intellectual property. this time they have led us down in china at in the un, where it they with russia vetoed the resolution on its syria at the u.n. security counl. i just wonder when theare going to take their place

advantage in the united states if you're exporting products, and that's what you want to do if you're a successful economy. it helps generate income in the united states, it helps balance your trade account, it does all sorts of very positive things, but we have a tax system that has no benefit whatsoever for exports and has a lot of incentives in it for offshoring. and until we figure out how to reconstruct that, and that's a much bigger product than simply figuring a tax reduction, we'll be at a disadvantage and have to make it up in other ways. >> frank, independent, good morning. >> caller: yes, hi. good morning. thank you for taking my call. i kind of look at this in a simple way. i look at it -- i go back to the day when ross perot was debating bill clinton and george bush for the presidential nomination, and ross at that time -- i'm guessing that was about 20 years ago or so -- at that point, as i recall -- i come from an engineering background, and we were a very, very rich country. all of our shelves and all of our stores across america filled with american goods. they no longer are. people maintained their homes, et cetera. the point is that ross said if we demolish or

weeks high as concerns about europe's debt crisis signs of an economic recovery the united states grand blend is trading at over one hundred eighteen dollars a barrel. is that around ninety nine dollars of asian markets did blow after greece approved a long awaited all stereo greenman but international bankers called for ratification of the three forms before. you really. are broadly lower carmakers are also losing ground in tokyo weighs on the rise after the us approved construction of its first new nuclear three decades with the set to build. its two hours ahead of the opening bell here in moscow the russian markets sold some profit taking on thursday with both the indices ending in the red the odds he has lost a relative third of a percent while the my six was down almost a percent. slowing growth in asia and europe is threatening to weaken the core of the russian economy started back expects no recovery in demand for all materials until late two thousand and thirteen when the bulk of china's stimulus policy should be felt the chairman of the board of russia's biggest. is aware of the problem but say

we have asian allies that want open trade with the united states. and china is pushing back somewhat, taking more of a parochial view of this, and what we need to make very clear is that we want open trade in this region and we want china to be a part of it, but they have to play by the rules. and the rules are basically international rules of trade set by w.t.o. and other types of organizations. given that the growth -- economic growth is going to be in that area going forward, if we are going to create u.s. jobs, we need to be looking at asia and china needs to understand that. guest: very quickly, it's important to note, too, that our existing long-time friends and allies in asia want the united states to be there as well. so it's not just a matter of the united states having a long-term presence in asia and asia pacific because china is there. and there's concerns about china. it's because our friends and allies there want us there as well and it's important that we develop those relationships. host: let's look at some of the numbers from u.s. tr

united states? europe is the biggest trading partner, right? >> europe is the largest trading partner, maria. of course i worry. you can't not worry. on the other hand, greek debt has been selling at 25, 30 cents less below the dollar for -- relative -- on the dollar for a very long time now. i think markets have recognized that if you put money into greece it's not all coming back. that recognition has been there for a long time. >> larry, good to have you on the program. we appreciate your time today. >> good to be with you, maria. >> larry summers from harvard. up next, going for growth. michael dell says to the next billion computer users around the globe, you're getting a dell. my conversation about the new opportunities for personal computers with the company's founder. later from the audacity of hope to life in a bubble. the author of "the obamas" joins me to discuss marriage and management inside the white house. look how the stock market ended the week. [ male announcer ] to the 5:00 a.m. scholar. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years,

the world economic system, and that includes ensuring that there is a balanced trade flow between not only the united states and china but around the world. >> obama urged xi and other chinese leaders to recognize the importance of human rights. he said increased responsibility goes along with power and prosperity. xi said he hopes his visit will deepen mutual understanding and lead to greater consensus. he said the countries should built a cooperative partnership based on mutual respect and interests, but he suggested the two need to acknowledge their differences. leadededededededed hospitality to xi. vice president joe biden is accompanying him to most of his destinations. republican party leaders criticized the administration for being too soft on china. >>> pakistan's air force is in talks with china over a possible purchase of the country's mainstay fighter jets. the deputy chief of the staff said that china delivered one surveillance aircraft last month, and pakistan will receive three more this year. pakistan bought the aircraft to boost its defense capabilities. the official noted that the air force

concerns about europe's debt crisis over way signs of an economic recovery in the united states brant blend is trading at just under one hundred eighteen dollars a barrel. as it over ninety nine dollars. a multibillion dollar merger between russian miners gold and probably metal has failed in the midst of newspaper cites sources close to the talks are saying. he's not satisfied with the terms. the owner of russia's largest gold miner we hope prokhorov claims the firm doesn't need additional assets and the country company now wants to merge with one of its foreign rivals foreigners gold and fundamental are jointly worth around seventeen billion dollars and the merger could have created the ninth biggest gold miner in the world well that's all i have for you this hour but join me in about fifteen minutes for more here on business r.t. . from los angeles to chicago to birmingham twenty trauma centers have closed since two thousand severe problem is not enough inpatient beds not enough earth emergency department beds and not enough nurses to man those that take care of all the people who are here the only

high as concerns about europe's debt crisis otway signs of an economic recovery in united states friends land is trading at over one hundred and eighteen dollars per gallon and that ninety nine dollars per barrel. markets in asia did down to greece approved a long awaited austerity agreement nikkei with lost over half a. down over eight percent. broadly lower. income makers were weaker as well in tokyo with toyota motor falling one point three percent at most european stock markets open lower off the e.u. finance ministers held back the rescue package for greece the footsie drop half a percent of the start of the trading session while the dax was down on the a percent banks are leading europe down broccolis as reported three percent fall in profits to five point nine billion last year hit by a slowdown at its investment bank on. here in moscow the markets are in the negative territory from isaacs is losing more than half a percent. one and a half percent most of the blue chips are pointing downwards let's have a look at some individual shambles on them isaac's leading me is continuing previous sessions

trade policy a big factor in "greedy bastards" chapter 3. be sure to check that out. if you want to learn more about what we're talking about with china and the united states and world trade. listening to your thoughts, of course, as we have is central to all of this. we have a series of meetups planned on the college tour. tomorrow at noon, we'll be at the joseph-beth booksellers in lexington, kentucky. after the show, we'll do a coffee meetup on rose street. and then thursday at the book loft in columbus, ohio, same time. then saturday in chicago at noon. 57th street books. more information about all of this on our website. up next here, the question we're asking oon ton the college tour this week. what, my friends, is your experiment? the answer to you could be priceless. i had enough of feeling embarrassed about my skin. [ designer ] enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer up t

that's focusing on one stock that trades in the united states. particularly groupon. this shares more than 50% in after hours trading on wednesday after this firm recorded earnings that missed on estimates. the daily deal site has a loss coming in and $43 million cited expansion plans and nearly $35 million in tax expenses for that. if you thought that was bad, groupon lost for the same period the previous year. nine times in the fourth quarter loss. these results are the company's first and since it went public in november, as such they will be getting many analysts's attention. >> okay. let's take a look at what to expect in the market today on wall street. as you can see, appearing virtually flat with a few hours to go before they come here with interest. one way or the other in the u.s. markets. >> a bit like the picture we saw here. two up, two down. andrew was talking about the united states. here in world business, england's national football team is looking for a new manager. why ka pello quit and why he may be lining up to a place. we'll be right back after th

united states population. it's already the world's second fastest-growing, major economy, and bilateral trade with the united states has more than tripled during the past ten years. the united states and india are working to build a strategic partnership that will benefit both sides, and we have an ongoing cooperation with india on many fronts. this includes efforts to insure security in south asia. india and the united states have strong incentives to cooperate on counterterrorism in the region and beyond. we also share concerns about the stability of afghanistan and pakistan and a growing military capability of china. energy cooperation between the united states and india should also be at the top of our bilateral agenda. india's energy needs are expected to double by the year 2025. the united states has an interest in expanding energy cooperation with india to develop new technologies, cushion supply disruptions, address environmental problems and diversify global energy supplies. the united states' own energy problems would be exacerbated if we do not forge partnerships with india and other nations experiencing

please deliver the message that trade is good for our global economy, global economy good for the united stateseconomy equals jobs. thank you. >> mr. pisano is recognized. >> think mr. chairman. i want to clarify something that came up during dr. mcdermott's line of question. and that is the joint tax analysis that was done. and mr. neubig pointed a couple things out but i think this bears emphasis, reemphasizing these facts about that specific report. first and foremost, the estimates are not complete. and secondly, they are not comprehensive. and, in fact, only 60 out of 150 measures have been scored, and those are preliminary. that consistently rate of 28%. so i'm optimistic that we can actually get to a lower rate once we have a full analysis of all these measures. so i think we need to keep that in mind, that the joint tax analysis is not comprehensive at this stage, and incomplete, and her committee will have to continue to work to get to that point. professor hanlon, we have all been very concerned about the vast number of temporary provisions in the tax code, and the uncertainty it's cr

united will to resist. these nations have implemented their will to resist all other forms of soviet penetration through a number of trade agreements. the united statesions of the free world are actively promoting better living conditions all over the world. this has the effect not only of helping these countries to improve their industrial and economic position, but also of providing a defense against communist entry which flourishes in depressed economic areas. the military potential of the free world has been revived by such mutual defense pacts as a north atlantic treaty on summation in europe. the southeast asia treaty organization. the real treaty to provide hemisphere defense. all over the world, our allies are now setting up their own defense bases with the technical know-how to operate them. this kind of military help by us is not by in means a one-sided operation. the nations involved contribute as heavily as they can. >> in joint training program, demonstrating their respective skills to each other. they crossed the language barrier to comradeship. this banding together by nations with a common purpose has produced strength not only in mil

those who are driving the indices down and let's head across the atlantic to the united states where markets are trading with moderate gains the main factor here is data showing an increase in american home sales and also crude have kept the s. and p. five hundred index from further gains in recent weeks as worries over disruptions in the middle east supplies push prices higher. well that's our update for me and our business does care but remember you can always find more stories just log on to our website dot com thanks for watching. move them a. suit. to.

there is a trade deficit, but the united states exported something on the order of $20 billion of exports to china last year. you talk about general motors. you go to china -- i was there a couple of years ago -- and business is big in china. general motors profitability is in large part because of the china market. you have a lot going on with this -- the united states has a lot going on with this relationship with china. it is more than foreign policy and defense policy. the trade relationship is underpinning between these countries. >> what could be more american than an open " inside washington" coffee cup made in china? couldn't they make these in maryland or toledo or someplace? >> they could or should. >> we would pay more. >> we are american consumers, citizens, i hope. this conversation seems to take place every time there is a chinese leader with an american leader. we talk about the currency, to talk about intellectual property. this time as well they have let us down in china. in the un, the resolution on syria, the security council. i just wonder when it will take their place

the trade rep, state department, the commerce department to be involved, to be more aggressive especially by initiating more trade cases. madam president, i know from representing ohio in the united states senate since 2007, i know what trade enforcement laws do. trade enforcement by the commerce department and international trade commission against china cheating created jobs in lorain, ohio in the steel industry, created jobs in findlay, ohio in the tire industry, created jobs in paper in other industries around the state. and, madam president, resulted in a new steel mill in youngstown ohio whereby about 1,000 building tradespeople are building that plant and 500 or 600 steelworkers will be working in that plant that manufactures oil country tubular steel, jobs that would have been in china if the president of the united states and the international trade commission did not enforce trade laws. that's why that matters. that's why the new trade enforcement panel that the president is setting up as part of his budget is so very, very important for the future of our national security and for the future of the middle class in our great country. madam president, i yield the floor. t

tend to like our own kind of united states don't like the chinese does the chinese which are very free at leaving markets to their own devices but interfere a lot with trading currency in our own ways we both have forms of state capitalism well and any sort of raise the issue of u.s. state capitalism i guess one excellent example of one of that would be the u.s. bailing out the banks and the auto giants during the u.s. economic crisis which has sponsored of the birth of this occupy wall street movement him banks got bailed out we got sold out that's the chant do you see at all this kind of interference or perhaps turning the tide of public opinion against capitalism as it's been played out here in the u.s. today it will certainly see on the right in the republican candidates people who thought the bailout of the banks and who particularly fault the bailout of g.m. of the auto industries and without question a lot of people say if you believe in capitalism the big firms should fail just with a small businesses fail and if they fail they fail taxpayers should not have to be bailing out these big companies on the other hand given that the auto industry is the