he would say wallison, there are two kinds of boys in this world, champs and chumps. i wasn't anyone that people spent time with, again, because of my stutter, i didn't talk much, because of my inability to read, i didn't participate in many church activities at the time, so i wasn't one of the kids a had great promise, that people wanted to embrace right away, but coach mack did. well, if my community, back when communities were a place with when neighbors talked, you looked after your children, coach mack had heard that i was about to get into trouble. as i mentioned, because of my size, pause of my learning issues -- because of my learning issues, i was bullied a lot by kids and i talked a lot about bullying. we've seen the stories of what happens across this country when a child is bullied and adults don't intervene and that child, using a child's mind, tries to address the issue in their own way. that happened for me. bullied in school, i was tired of being slapped around, tired of vatican people take my lunch money, tired of having people disrespect me, talk dis

case of, well, radio did not displace books and television did not displace radio, and so on and wallison 0. in fact, we now have pretty good, hard scholarly evidence that guttenberg's great invention did not at all replace manuscript publishing. as you probably know, man knew script publishing in the 15t 15th century was a big business and there were almost assembly line scribes who are copying at a fear just rate, they were doing very well and i think the invention of moveable type or the reinvention of moveable type by guttenberg stimulated manuscript production, it didn't wipe it out. a recent study by harold love, a fine english scholar has demonstrated that manuscript publishing thrived throughout the late 15th, 16th, 17th, and well into the 18th century and a former friend of mine, now dead, don mckenzie, argued that it was cheaper in the early modern period, right up into the 19th century, to hire scribes to copy out books. if you were producing an addition of less than -- an edition of less than 100 copies, so scribal publication continued very well and not that i can extrapolate

to elected representatives and so when we had the economic crisis that befell us, when henry paul wallisond he said the sky is falling, i need $200 billion right now to prop the sky up and we sat there and said you're in a different arena now, but he made one run at it, we voted it down, he made another run at it and it passed and henry paulson got his $700 billion in two components. that's when the american people got really nervous about what was happening in washington, d.c. and along through that path of things that happened, we saw the nationalization of huge private sector entities. we saw the nationalization of bear stearns, fannie mae, freddie mac, ai gillespie, the insurance --aig, bank of america and now the american people are starting to think what have we wrought? the people we put in charge are making decisions to punish the private sector and nationalize that growth engines that have been created by free market capitalism. but they trusted that their elected leaders knew more about wall street than they did. and now we find out that we know more about wall street than the pe

administration had a very successful experience forthfying the banks, but the market structure at the wallison at the tim -- onset of this crisis, ths were at 22% and we lurched in and supported the banks and supported the 22% in a bigging y and their portfolios are co-mingled, but the architect of the future is how to put a safety net structure around the incentives of the securitization markets to keep credit flowing. and in no place is that bigger than in the housing market. >> and i agree that it's the irony, or anomaly or unfairness that the other -- that the banks became a much smaller part of the market, but that's the ones we bailed out. and when -- in many cases, it was other institutions and other sectors that actually were more important to credit. the question is, we had a trucking company come in, and say, they wanted money from tarp, and they said, hey, listen, two biggest trucking companies go down, that will be very bad, so we're too big to fail and when you think about it, it's not as crazy an argument as you think, because the banks are only 22%. what is it that's so special

i think programs the most important preps wallison from -- to be learned from the louisiana experience is not the new structure or the new funding, but it's the process that it took to bend the political will of the state. in 2005, speaking to a joint session of the louisiana legislature, our then chief justice said to us, it is never a popular political position to spend money on what some people see as a social program for criminals. well, here we sit in 2010, we're still not -- indigent defense is still not popular. it is -- but we have in a state, as red as louisiana is, made significant progress. and i think the important lessons to learn are what did it take to move the ball further down the field? what did it take to begin to resolve the tremendous turf battles that exist, and what were the political dynamics that led to progress. i think that i started in this, because i was the only non-lawyer in the -- in the legislature who had a little sense of justice and fairness, that -- who didn't know enough to know what i was getting into. it probably should have been a significant cl