for every dollar that we spend combating healthcare fraud we're able to return $4 to the united states treasury and to american taxpayers. fourth, our agencies will continue to work with congress to identify and to pursue the legislative and regulatory reforms necessary to prevent, deter and prosecute healthcare fraud. now, these reforms range from removing barriers that impede information-sharing to increasing sanctions and penalties. and finally, the department will continue to engage the private sector in our antifraud efforts. we'll seek out guidance from representatives of the insurance industry and the healthcare-provider community, many of whom who are with us here today. we know that the vast majority -- the vast majority of those who work in the healthcare industry are honest people who want to help patients, who want to follow the law. but we also know that a few bad actors have created an industry-wide problem. you all have a critical role to play in helping us to encourage good behavior, bring waste and abuse to light and to hold criminals accountable. so long as healthcare fraud pa

on folding of the global crisis we had central banks from all over the world not just the united states, treasury departments, finance ministries, tracking work to see because one of the things we laid out for benchmarks saying this is not the average recession. this brings me to my last point which is where are we. this is not your typical recession. you're typical post war rescission of the united states lasted for laughs than a year. the longest post war recession was 16 months. and so that the as the crisis unfolded, okay, as the crisis unfolded policymakers were looking at some of the benchmarks that were laid out in our analysis, and two statistics i will flag that are shocking in the year we had moved from the american economic association presentation at the beginning of 2008 to the same presentation exactly a year later, and two statistics that we produced from this comparison of the other crises really shocked many who heard us cite those statistics. we said on average if you look at all of the house of year, systemic financial crises post world war ii both emerging markets and advanced

it has enabled the recovery of stolen funds and returned millions of dollars to the united states treasurycontinue to build on these achievements. last year brought record levels of achievement in our fight against health care fraud. in 2009, the justice department reached an all-time high in the number of health-care fraud charges to more than 800. we also obtained more than 580 convictions. on the civil enforcement front, the recovery is under false claims act were $2.2 billion. many of these successes can be attributed to your medicare fraud strike forces which are at the core of the heat law enforcement mission. by fostering increase collaboration, he has had strike forces act with speed and efficiency -- heat has had strike forces act with speed and efficiency. in the last eight months, we have filed more than 60 cases and charged two hundred offenders as occurred more than 50 guilty pleas. we have uncovered more than a quarter of $1 billion in fraudulent billing. i am proud of the great work done by our agencies and their partners. i am confident we are on the right path. we cannot y

i am introducing legislation to require the united states treasury secretary to use the voice and influencef the united states within the multi natural financial institutions to cancel all of haiti's remaining debt. we are calling on all of our colleagues to support it. canceling the debt will free up the country's resources, allowing it to begin meeting its immediate and long-term needs. debt cancellation is critical for their future. it is a critical component to the overall aid. i want to thank all of the early responders. i also want to thank president obama for coordinating the international efforts on behalf of haiti. i'm so proud of hillary clinton for her quick response and the fact that she got on a plane -- one of the army planes -- and went to haiti not only to reiterate to the haitian people that america stands with them in profound ways [unintelligible] she talked with the president. she told him about our support. i am just very proud that even know what we have done is not perfect, it can never be. each day get a little better. today we pulled out a 70-year- old woman. those

in your testimony you state that in your capacity as united states treasury secretary, you were not involved in any decisions with respect to payments to aig's counterparties. and that you were not involved in any of the decisions concerning aig's disclosure of those payments. i'd like to accept that at face value, mr. paulson, except the critical decisions concerning payments to counterparties were made after the passage of the emergency economic recovery act by congress at your request. and the emergency economic recovery act made the treasury secretary responsible for the use of funds authorized by congress. negotiations on the counterpart of payments by the federal reserve bank of new york, did not begin until november 6, 2008. the funding of the payment of the counter claims is backed by funds made available under the emergency economic recovery act. so, mr. paulson, doesn't it make it your responsibility to know how those funds were used? >> i think you'll find, congressman congressmen, and i think the secretary reported this, that t.a.r.p. investment, the $40 billion t.a.r.p. investme

taxpayers, but of the united states treasury department. that was from previous testimony, and we rely on that to say, perhaps that is not the right answer. we know that the new york feds sought to cover the counterparty payments made possible by the taxpayers' money. we now better understand that the new york fed transferred their earlier responsibility to the american people after t.a.r.p. was passed. we know that the new york feds succeeding in getting the -- succeeded in getting the sec to continue the cover-up until 2018, ten years from the da @h eb in fact, he has asserted complete ignorance of the details. many people have a hard time believing that secretary geithner entered into an absolute come of silence on the day that his nomination was announced. where was secretary geithner for the months and months that the back door bailouts were being questioned in the media? aig's counterparty was kept secret for so long? these are the questions the american people deserve. mr. chairman i would ask unanimous consent the remainder of my

of times and i have brought up the fact that on september 11, 2008, there was a run on the united states treasury it happened in the morning. an overwhelming amount of money was being drawn out of the treasury. the treasury could not keep up with the money that needed to go out. the country was going in the financial collapse that afternoon if the computer did out -- did not automatically kick in. if you have a 401k and u.s. your broker to cash in, that happens at the end of business. -- if you have your 401k and you ask your broker to cash in, that happens at the end of business. why was this happening in the morning? these financial institutions, how much money with i in 2 for the oil futures market when oil went up to over $150 -- how much money were they in for with the oil futures market when oil went up to over $150? çótimothy geithner, ben bernank, they will lovnot say september , 2008. but he will say -- that thursday. two attacks in the morning of september 11. host: thank you for your call this morning. "business week" has the headline "mr. fat cat goes to washington." "what is expected

do need to reiterate, first, there is a requirement for banks that have signed up with the united states treasury and have loans that are owned by fannie mae and freddie mac, it's a requirement as their job as servicers go to hamp, if it does not comply and they can still be positive n.n.t.p. value -- >> that means what? >> present value, a foreclosure is preferred or a modification or workout and we heard today that modifications are far better for investors than our foreclosures, certainly in this market. and so what whether they're redefaulting or not because of unemployment and other burdensome issues in the economy, those are requirements of the contracts they have in place with many parties in the united states government. the reason i say that is when i hear voluntary it makes me kind of crazy because the agreements for people to look through loans are to work on an n.p.v. test before and after to decide if they go to foreclosure. >> we're going to save you for clean up. >> he'll clean up. we're cleaning up, too. >> let me interrupt and just, you know, i hear what you're saying and i'm sur

it is not in a federal reserve bank out west, is backed by the united states treasury, so it is backedt question. i was told that this money sets in the coffers -- sits in the coffers of the regional banks because they have collected over the years from the banks that they serve. >> all i can say to you is that i do not see that in the record. maybe she can show us where that affirmation is, but i didn't -- i don't see that. the board is saying that these individual banks will loan up this money without getting any real information and the reason that they are doing that is because they are trying to squeeze themselves around -- trying to squeeze their round peg through a square hole. this is not about trade secret information. this is not about customer lists. this is not about proprietary information and secret formulas. this is now about something called stigma. stigma has never been in the 30 + years -- has never been, in the 30 plus years, something that the corporate tax -- but the corporate tax. -- that the court protects. again, i agree with my colleague. there was no developed

in your testimony you state that in your capacity as united states treasury secretary you were not involvedin any decisions with respect to payments to a.i.g.'s counterparties and that you were not involved in any of the decisions concerning a.i.g.'s disclosure of those payments. those payments. i'd like to accept that at face value, mr. paulson, except the critical decisions concerning payments to counterparties were made after the passage of the emergency economic recovery act by congress at your request, and the emergency economic recovery act made the treasury secretary responsible for the use of funds authorized by congress. negotiations on the counterparty payments by the federal reserve bank of new york did not begin until november 6th, 2008. the funding of the payment of the counterclaims is backed by funds made available under the emergency economic recovery act. so mr. paulson, doesn't it make it your responsible to know how those funds were used? >> i think you will find, congressman, and i think t.a.r.p. reported this, that the t.a.r.p. investment, the $40 billion t.a.r.p. inves

taxpayers, but of the united states treasury department. that was from previous testimony, and we rely on that to say, perhaps that is not the right answer. we know that the new york feds sought to cover the counterparty payments made possible by the taxpayers' money. we now better understand that the new york fed transferred their earlier responsibility to the american people after t.a.r.p. was passed. we know that the new york feds succeeding in getting the -- succeeded in getting the sec to continue the cover-up until 2018, ten years from the date the bailout began. and we know that the full amount paid to aig's counterparties will likely never be repaid to the american people. some facts, mr. chairman, remain unknown or uncertain. secretary geithner has claimed publicly that he has recused himself from the day-to-day management of the new york fed when the cover-up occurred. in fact, he has asserted complete ignorance of the fed's efforts to cover up the bailout details. many people, including members of this committee, have a hard time

taxpayers, but of the united states treasury department. that was from previous testimony and we rely on that to say that perhaps that is not the right answer. we know that the new york fed sought to cover the counterparty payments made possible by the taxpayers' money. we now better understand that the new york fed transferred their earlier responsibility to the american people after tarp was passed. we know that the new york fed succeeded in getting the s.e.c. to continue the coverup until 2018, 10 years from the date the bailout began and we know that the full amount paid to a.i.g.'s counterparties will likely never be repaid to the american people. some facts, mr. chairman, remain unknown or uncertain. secretary geithner has claimed publicly that he recused himself from the day-to-day management when the coverup occurred. in fact, he has asserted complete ignorance of the fed's efforts to cover up the bailout details. many people, including members of this committee, have a hard time believing that secretary geithner entered into an abs

in your testimony you state that in your capacity as united states treasury secretary you were not involved in any decisions with respect to payments to aig's counterparties. and that you were not involved in any of the decisions concerning aig's disclosure of those payments. i'd like to accept that at face value, mr. paulson, except the critical decisions concerning payments to counterparties were made after the passage of the emergency economic recovery act by congress at your request, and the emergency economic recovery act made the treasury secretary responsible for the use of funds authorized by congress. negotiations on the counterparty payments by the federal reserve bank of new york did not begin until november 6th, 2008. the funding of the payment of the counterclaims is backed by funds made available under the emergency economic recovery act. so mr. paulson, doesn't it make it your responsible to know how those funds were used? >> i think you will find, congressman, and i think t.a.r.p. reported this, that the t.a.r.p. investment, the $40 billion t.a.r.p. investment was equity and

when the federal budget runs a deficit, the united states treasury must borrow money to make up the difference or language around here, we call the shortfall. that shortfall results from laws enacted in the past. it spent money and it cut taxes. if we want to avoid the need to borrow, then congress and the president must enact laws that will cause the federal government to spend less money or raise more revenue in the future. simply preventing the treasury from borrowing more money is not the solution. if congress does not allow the treasury to borrow more money, then the treasury will not have the money to pay its bills. the treasury has no legal authority to prioritize spending and pay only the most important bills. they don't have that authority. if the bills are due, they're due. the treasury does not even have a way to determine which are the most important bills. if the debt ceiling is not raised, the treasury would have to pay bills on a first-come, first-served basis. now, some of these bills would be interest payments on previously borrowed money. if the treasury does not pay these in

it is not in a federal reserve bank out west, is backed by the united states treasury, so it is backeded that question. i was told that this money sets in the coffers -- sits in the coffers of the regional banks because they have collected over the years from the banks that they serve. >> all i can say to you is that i do not see that in the record. maybe she can show us where that affirmation is, but i didn't -- i don't see that. the board is saying that these individual banks will loan up this money without getting any real information and the reason that they are doing that is because they are trying to squeeze themselves around -- trying to squeeze their round peg through a square hole. this is not about trade secret information. this is not about customer lists. this is not about proprietary information and secret formulas. this is now about something called stigma. stigma has never been in the 30 + years -- has never been, in the 30 plus years, something that the corporate tax -- but the corporate tax. -- that the court protects. again, i agree with my colleague. there was no dev

folding of the global crisis we had central banks from all over the world, not just the united states, the treasury department's, finance industries tracking our work because one of the things we laid out for benchmarks saying this is not the average recession. this brings me to my last points, which is where are we? this is not your typical recession. your typical post-war recession in the united states last addidas-- less than a year. the longest post-war recession was 60 months. and so that as the crisis unfolded-- okay. as the crisis unfolded, policymakers were looking at some of the benchmarks that were laid out in our analysis come into statistics that i will flags that were particularly shocking, the year we had moved from the american economic association presentation at the beginning of 2008 to the same presentation exactly a year later, and to statistics that we produce from this comparison of the other crises. it really shocked many who heard us site the statistics. when we said on average, if you look at all of the safir-- the systemic financial crises, post world war ii. both emerging

taxpayers, but of the united states treasury department.sought to cover the counterparty payments made possible by the taxpayers' money. we now better understand that the new york fed transferred their earlier responsibility to the american people after t.a.r.p. was passed. we know that the new york feds succeeding in getting the -- succeeded in getting the sec to continue the cover-up until 2018, ten years from the date the bailout began. and we know that the full amount paid to aig's counterparties will likely never be repaid to the american people. some facts, mr. chairman, remain unknown or uncertain. secretary geithner has claimed publicly that he has recused himself from the day-to-day management of the new york fed when the cover-up occurred. in fact, he has asserted complete ignorance of the fed's efforts to cover up the bailout details. many people, including members of this committee, have a hard time believing that secretary geithner entered into an absolute cone of silence for those of us old enough to remember what that was, on

extraordinary actions to provide liquidity, sustain commercial paper market, working with the united states treasury to restart the asset backed securities market and providing critical support to the housing market. these efforts have played a very significant role in arresting the financial crisis and financial markets have begun to recover. you and the federal reserve deserves praise and gratitude in preserving a far worse outcome that we might have otherwise have seen and i believe you deserve another term as chairman of the federal reserve and i intend to vote for your nomination on the floor of the united states senate because you are the right leader on our nation's economic history and this send the right signal to markets. i congratulate you for these efforts but i remain concerned about the weaknesses in the regulatory system that allows the financial collapse to occur in the first place which brings me to the second question. does the structure of the institution you are overseeing deserve to be maintained as presently constituted? today we have a regulatory structure created by historic

on behalf of the black caucus, i'm introducing legislation to require the united states secretary of the treasury to use the voice vote and influence of the united states within the multilateral financial institutions to cancel all of haiti's remaining debts and i hope all of my colleagues will support it. canceling haiti's debts will free up the country's meager resources, allowing it to begin leading -- meeting its immediate and long-term needs. i want to thank my friend, barbara lee, for introducing this measure. thank you. i yield back the balance of my time. the speaker pro tempore: the gentlewoman yields back the balance of her time. the gentlelady from florida is recognized. ms. ros-lehtinen: thank you, madam speaker. i'd like to yield two minutes to the gentleman from texas, judge poe, a member of our house foreign affairs committee. the speaker pro tempore: the gentleman from texas, mr. poe, is recognized. mr. poe: thank you, madam speaker. i'd like to thank the gentlelady from florida for yielding. when this situation occurred in haiti, when the earthquake came through and devastated th

the cbc, i am introducing legislation to require the secretary of the treasury to use the broad vote and influence of the united states within the multilateral financial institution to cancel all of haiti's remaining debt. the cbc is calling on all our colleagues to support it. canceling the debts will free up the major resources, allowing haiti to begin meeting its immediate and long-term needs. debt cancellation is critical for haiti's future and is an important components for the overall aid we can provide to the country. i close by joining my colleagues in thanking all of the early responders. i also thank president obama for coordinating the international effort on behalf of haiti, and i am so proud of hillary clinton for her quick response, and the fact that she got on a plane, one of the army plans, i am told, and went to haiti, not only to reiterate to the haitian people that america stands with them in profound ways, but despite the fax that president preval had no -- she told him about our support, and i am just very proud that even though what we have done is not perfect, each state gets a little better. fr

creation is the longest stretch of uninterrupted job creation in the united states of america, more revenue floating to the federal treasury in 2007 than any other year in the history of the united states of america. after we were attacked on september 11, 2001, in the worst attack on our homeland in the history of the united states of america, president bush, because of his actions and policies kept us safe as a country and we were not attacked on our soil again. the fact is that teenaged drug use declined 24% under president bush. the fact is that test scores closed between minority students and white students in reading and math at fourth and 8th grade. you can look those up. those are fractures. you and i are entitled to those facts. i encourage you to go on-line and look them up. i note that president obama has proposed doubling our debt over five years and tripling it over ten years, that's not my opinion. that is the estimate of the congressional budget office of the united states congress. you can look that up, too. i'm not trying to smirk. i'm trying to smile. host: one more question in the back, go ahead. caller:

united states air force. we also have bonnie carroll, many of us know her as the director of the treasury assistance program for survivors. please join me in welcoming our distinguished guests. [applause] i cannot tell you what it is to look across this audience to note that of all of the things that are demanding our attention, that each of you would make this a priority. clearly, it speaks volumes. this is not business as usual. we are here over the next few days to learn, to share, to grow, to connect. as i look across this room, i see colleagues and friends. i see folks from across the services, army, navy, air force, marine corps, a coastguard, public health service. i see the backbone of our military. i see retirees, widows, family members who have survived the tragedy of suicide and two are truly our best experts from whom we must learn and for whom we must continue to support. please join me in thanking the suicide family survivors who are here to teach us this week. [applause] you know, a wise person once said, the kinder than it necessary -- be kinder than necessary for everyone we meet is fighting so

that's truer today as the united states supreme court just wiped away decades of legal precedent allowing corporations to spend unlimited money from their treasuries on our elections. the american people already believe that corporate special interest and their lobbyists run the show around here. the halls are crawling with them. but that's not enough. now the court says the big banks, drug companies, insurance companies, hey, all bets are off, it's open season. our elections are for sale. that's right. if the congress doesn't like what this congresswoman is doing, they'll just forget the voters, buy tv ads, send robo calls, a lot of mail and beat her in november. a law won't fix this. we have to fix it in the constitution. today i'll introduce the constitutional amendment so that we the people can take back our elections and our democracy. this is not the people's house incorporated. we are the people, it's our house. it's our constitution. and it's our elections. we plan to take it back from the united states supreme court. the speaker pro tempore: the gentlelady yields back her time. for what purpose does the gentleman from pennsylvania rise? >

treasury and required citizens to submit to forced labor. guest: there are a lot of unfortunate stories in terms of the relationship of the united states and haiti in those days, and u.s. policy in the caribbean, and latin america in general at that time, it is highly ironic because the slave uprising that brought haiti into being in 18 04 was one of the causes of the louisiana purchase. when napoleon had exhausted his funds and needed more money, he sold louisiana to the united states to raise money for his army to be able to hold on to the colony in haiti. host: our guest, before serving as a americas program director for strategic and international studies was deputy as benson -- deputy assistant secretary of state, and permanent representative to the organization of american states. how long were you at the state department? guest: i was at this department for many years, a career officer. i was in the foreign service for 27 years. host: how has the policy toward haiti specifically involved during a time of the state department? guest: it evolves toward latin america in general, from the time of the cold war framework, and concern about sovi

treasury bonds. how specifically does that come about? i will take my questions off the air. guest: nafta is really a treaty between mexico and canada and the united statescanada is our largest trading partner. organized labor has opposed it because they saw the transfer of jobs from the united states to mexico. but i think actually benefit from nafta. if you look at job creation at the ports and export-related jobs, i think it more than compensated us for any jobs that went to mexico. and some of those jobs have migrated back recently. we have had korean and japanese auto makers building plants in at the south. i think net-net, that agreement has been a positive for the u.s.. what was the second -- 9 host: sorry, i forgot myself. guest: i am not used to getting up this early. i'm sorry. host: we ran out of time anyway. jim mctague, thank you. when we come back we will look at al qaeda in africa out with retired general. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> former british prime minister tony blair testified today in the inquiry into the iraq war in london. he is expected to be

why treasury ultimately rejected 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 statesll 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%. immediately you had discussions, bankers trying to find ways to to move the employees off the books of london in to some other place. i think that was a lesson to secretary geithner about h

told by the secretary of treasury and others -- and i believe -- that the money would be used to shore banking, thus stabilizing the financial system here in the united states and that would permit lending to resume. my state of arizona was hit particularly hard by the collapse of the housing bubble. so we needed more lending for small businesses as well as for commercial lending like auto lending, real estate lending, and so phon. unfortunately, the promised flow of capital has not materialized. today people in my state still struggle to refinance their homes and businesses, and the businesses in particular are struggling to make payments on their property, rollover commitments that they already have, and even pay for things as basic as their inventories or their payroll. and you have to ask how did this happen with all of this tarp money out there? well, partly it's because the tarp program was perverted into a tool for increasing the scope of government, and it's been used for purposes for which it was never intended. some of the money has been used to bail out political interests like auto companies and parts suppliers. that was never intended. and i wo

treasury. all of them have said that a debt of that magnitude poses a systemic threat to the economic security of the united states. the "national journal" in an article on november 7 of 2009 reported this: "simply put, even alarmists may be underestimating the size of the debt problem. how quickly it will become unbearable, and how poorly prepared our political system is to deal with it." mr. president, that's not just the view of the "national journal" or the view of "newsweek" magazine and their cover story piece. this is the considered judgment of some of the budget experts in the country from both the republican and democratic side of the aisle. alan greenspan, the former chairman of the federal reserve, said the recommendations of senators conrad and gregg for a bipartisan fiscal task force is an skphrepbt idea. i hope -- is an excellent idea. i hope you succeed. doug hegan, political advisor to senator mccain in the last election said this. i am a reluctant convert. i always felt this is congress's job. and quite frankly it ought to just do it. that attitude has earned me no friends. so i've come around in