walter burns. he led to deregulation opening the roador greed. a word i would like to bring up in this discussion. just plain greed. after we have our plain vanilla banks we don't want to do away with it altogether. we should have an investment banking community andnd insurance community but there should be more restrictions in terms of capital restrictions and a lot more disclosure. one of the great and i won't -- we can all go on and on about this. but one of the great events in my mind that suggested this extraordinary change in government attitudes towards regulations was that there were no changes after the failure of long-term capital management in 1998. not only requirements for disclosure as i recall. at least tell us how much. under alan greenspan annularly -- and larry summers, that was no such requirement. now we need to compartmentalize the strategy. with when we think about a rescue plan, we have to think about it in those broader rms. and in a bigger public disclosure than we've had so far. [applause] >> i very strongl agree with je

walter burns gave a talk on lincoln in which he argued opposition to slavery was lincoln's great starhat lincoln had the opportunity to endorse the crittenden compromises before taking office, rejected that and, in fact, the reason lincoln was determined to keep the union together was primarily he understood that if the confederacy became a separate nation, abolition of slavery would be out of use of the federal government. that sounds like a different view of lincoln's motives. i wonder if you could comment. >> there's no question that lincoln was always opposed to slavery. and this theory about the -- keeping the court of appeals fed si of the union so he could abolish slaves, i think it's interesting but i don't think that's what motivated him primarily. because at the beginning -- and we know from lincoln's own words in this very book that that's not true because he was willing in his first -- in his first inaugural to make slavery legal for everyone if that's what it took. and then he was also at one point in his career willing to take 100 years to abolish slavery and that was in

position -- arthur burns, walter heller, marty feldstein, and obviously, ben bernanke was there, as well, and allen greep -- greenspan. dr. romer is one of the best known macro-economists in the country. she served 20 years in the faculty at the university of california at berkeley. she became an expert at that time in the depression. she also became a leading expert on fiscal policy and what kinds of effects this has had on the policy by changes in tax policy. she did a lot of this work with her husband, who is also an economist at the university of california, berkeley, and i would say that shows a lot of interpersonal skills. being married to someone is hard enough, but being married to someone in the same department, also writing articles with your spouse and raising three children is very difficult. she has three children, none of whom are likely to be economists she's told me, but there is a chance her eighth grader may go to economics. her others are in natural sciences. she actually has a unique role in this respect. historically president -- people who have been on the chair of