but if you look right now, you don't see that. host: what about yesterday when, i believe, a lot of big investors were headed toward treasury notes instead of stocks? yama, that will drive -- caller: that will drive down prices. they will put the money and the three-month bills as opposed to two-years, which is an indicator they are stocking their money away somewhere where they can get to it quickly. in a lot of instances, especially after the recent g.- 20 meeting, people are wary about where to put their money based on the rules that are supposed to be coming out of bed and a new approach in terms of having -- supposed to be coming out of bed and a new approach in terms of cutting in half. no one is able to book their finger on the pulse. if you look at technology stocks and comparison to financial stocks, across the board everybody got hit. there is really no way to say for sure based on what happened yesterday that that is an indicator there is a double-dip recession. host: what did you make of the news coming out of china th

you cannot just look at the past to predict the future. u have to look at who the candidates are, both candidates. this will tell you whether a state is viable. you cannot just look at the past. barack obama fulfill a certain profile at that given moment for virginia. we were the first presidential campaign on tte democrat side that had the resources to outspend republicans in different states. that really mattered. sadly, it mattered. typically, we are behind the funding. we had the opportunity. we were only going to win the states if we dramaaically expanded the electorate. we would not have one. there are 10 staaes that you can look at. if i had a memory i would rattle them off. virginia, north carolina, florida, colorado, indiana that collectively at up to 100 electoral votes. if we did not -- if we had not expend of the electorate especially with young voters, we would not have won ttose states. you can look at it clearly. the voter registration in each of those states and how much money we put into it and how much attention we put int

mrlatta: weli thank the when you look athese budge projections, you knowyou ha to have pple working. when we're looking at an unemployment rate at 9.7% in thisouny and littleer 11%nemploymen the state of ohio and all kws w going to enater this mer when of those people th were hiredn to be censu rs or work forhe census arall gointoback to unemploymentse numbers will go bk. it is kind of a false data time we're in looking at these numbers. u sawhat happened enhe uloyment numbers came out and on 41,000 jobs were createin the prite sector at wal streethought of that. oking at the things are -- log at that,his are not gog well in thisconomy. i now you heard the same stementshat -- the prections from the congreional of budget office director, you kw, we're lookinat probabl2014r 20 pfer we getba before we t back to -- i d't care if you say normal employment in this country. lot of parts of ohio and the midwest where manufacturing takes plachat are we going to din our areasor the next four or five years with these high unemployment rates? mrslumm: wi the gentleman yield? mr. latta: i yield to

that helps to form how you look it to run job. own further and see more some weight. -- the job does not give you historical significance just because you hold the job. you understand another role in making sure that the corke function: gilad. you see charles evans hughes and recalled his final role and turning backed thheats to the independence of the judiciary. things like that. from time to time, i find it useful reminder of the role of the court and the role of thee chief justice. >> as time goes forward, this building will remain time was. as the work of the institution inside will be tied to past presidents and tradition, but in many ways it is a forever changing plays defined by the human being serving there is -pjustices. all trying to interpret the document over 200 years old in the context of an ever-changing world. treating you really cannot judge pustices uuless you know the materials that they are wwrking with. you cannot say, this is a ggod decision, this was a good court simply because you liked the results. it seeme

when you look at-- i know you look at things broadly. if you look at industries what does it tell you about what's keeping companies from making more hiring decisions at this point? >> you know, i think it's uncertainty. in fact lisa talked about the subsectors of the economy that are still creating jobs and that was an important point. but i also think if you look inside the employment numbers it's maybe sending an interesting message about what is plaguing businesses right now. because not only was there some hiring, not as much certainly as what expectations had built in but the average workweek extand-- expanded. average hourly-- went up t is telling you the conditions are there, the demand is building. the kind of growth the businesses need to see is there. hence their need to increase earnings or wages to their workers to extend the work week. but there's uncertainty. and you fill in the blank, uncertainty about taxes, health-care costs, regulation, concerns about what's happening in europe. contagion into the financial testimony.

if you look at the reports, we look at how much it has grown and what it would be. even if you took everything we have said, you would still be sending 1.5 times more than your potential adversary. those are things that -- when you say that to people, they understand. in the report, it has been pointed out thaturing the cold war, we spent 60% as much as our adversaries and potential adversaries. 250%, if we bring that back we will sti b at 150%. >> is there isustainable level you are lking for? there agreement among q to say at least to return to that pr9/11 levels? >> there are numbe in here. reducing by nrly $1 children -- trillion less than was there. if you ask anybody thereyou might get a lower number starting from scratch. we are operating within that context. that may go back to f-35. it depends on how its the fine. if you assume that we should keep spending all of this money on the f-35. the engine becomes stronger. if you just get rid of the whole thing, you are ok. that is what i am for. the presidenhas asked for too little so he will not get what he asked

you go inside there and submit the idea and look at them and debate them. if you go on and look to the next slide, this is how easy registration is. you would go in there and give your name. you create a password. all you do is that you do not give any party affiliation. you give your zip code. and you can pick your avatar. the first thing i realize is that they have no man with gray hair. i had to pick myself 20 years ago. if you go to the next slide, this is what you will find when you go into one of the topics. you have a thumbs up or thumbs down. if you look at the top, you can sort the ideas by whatever is the most recent, whatever has the most votes, from different ideas. anybody can sort it the way they would like. say you really liked it and expressed it. you can click on the little facebook symbol it would go directly to your facebook and you can send it to all of your friends on facebook. if you are on twitter, hit the twittee sign. if someone goeses on there and puts something you find is disrespectful, the software tries tt take out any vulgar la

i think if you look at the whole financial regulation debate coming of lawmakers who are years depended on wall street monday, saying how di take that money because i need that money to run? but on the other hand, how do i look good taking any of this money when the public is focused on this issue? also cannot system doesn't work so well anymore for a of the accumbens. again, we're not a 50% yet but if the vote were hel to maryland house, we would win it and i think the senate is perhaps one congress away from being abl to embrace that.

you don't look a day over 27. re devoted to plastic surgery, as we all are, ha-ha! but i've loved you all those 77 years, and the characters you built. i love heidi brafowitz, she was my favorite. she's the one whose g-spot was listed in the l.a. tour guide. and i love all the things you do, and i admire you. you're my favorite fie beta kappa. oh, pete doesn't have any idea how brilliant you are. a brilliant woman and thinking of the top of your head every minute. i love you, joan! >> i love her -- you don't know how gracious she is. a funny, never did a bad joke, always current. what a role model. she saw me when she was at the top of her game and i was just starting in new york. she sat in the front row and she laughed louder than anybody. she encouraged, she came back. phyllis diller has my heart. >> where's her place in this comedic history with women? or should we not even say women? >> no, as a comedian, one of the great stand-ups, one of the most current, always relevant, when she came on stage, when she tal

thank you, and i look forward to your questions. question thank you, mr. mcgee. >> and would like -- we have heard and arguments about why and why not merger should take place. the balance of these arguments and the resulting policy impact of the market sets the cost of capital for the airline industry. to help you with your analysis, i will provide you with a perspective from the financial markets. so long as airlines source their funding from the capital markets, the boards of directors and management teams have responsibilities to their shareholders. while managing costs and delivering products is important, making strategic decisions that permit their companies to adapt are also critical. the airline industry's need is to consolidate. the performance of the industry has been abysmal. the regularity of loss and failure and goes on rival in corporate america. for example, looking at the past decade, we can see that the industry has had an aggregate loss of $68 billion and there have been 130,000 jobs lost and benefit pension plans were offloaded to the p

a couple of different questions as you could do. when we lookt this time if you have to look a lot of different ways, much like any other crisis. you need have -- we -- make sure that you have the ability to fly but make it the safest and it never happens again for there are a lot of questions that have to be answered. how much and how fast did they approve something without looking at the changes in the diagrams? as the questions that have to be entered for your water the checks and balances, where the protections as we go forward? it that we might have a microphone that works? >> but another try. the first is how to save some money. i took the granddaughter to the welfare office and you might want a look at the cars that they own and how much money they are going to get in the welfare. i like the cars that they have when they're getting welfare money. and half of the welfare workers, i'm quite sure that it is overloaded. if you do that, then you will have a load that they cannot handle and it will be more selective on their they also give mone

if you take a look at where is is going, you start to put it, these seem like a lot of money this one here is $1.4 trilln. what is $1.4 trillion mean? well, put it into context. . here is the comparison. united states, 10.3. greece at 9.4%. greece is in the news and causing a whole lot of trouble in the european union and its deficit as a percentage of g.d.p. is 9.4%. these are not good numbers. it's healthful to compare to -- united kingdom is worst off. if you go debt, this is the larger term, year after year after year, united states is at 99% and you got greece and italy that are worst off than we are. that is not a good sign when we are in third place. this rate of spending just does not work. this is a path -- this is a glide path. i use the analogy of the old -- the guys of world war i that used to fly those airplanes, whatever it was that snoopy. they get in their spiral and head down to the earth and what happened is -- because of lousy economics, we're in essentially a grave yard spiral in economic and you, my friends, know what the solutions are to fix this. and there was a

you know, you look at the computer, our space program, you look at things that have been invented here. things don't happen by accident in america, because we have some of the greatest entrepreneurs, great entrepreneurial spirit, we have great minds, great thirst and we have a great form of -- great thinkers and we have a great form of people. what we hear from our colleagues on the republican side is that po has been the standard answer here for the last year and a half. the party of no. just say no crowd. no to ideas, no to solutions, no helping america come back. look, we are elected to do things, not just win elections, but to do things and put the country back on track. when you run for office, you make all these promises, but when you govern, there are choices. do we work together s democrats and republicans to put america back on track and put our country moving forward or do we participate in this partisan exercise here where all we get is no. we have worked very hard to try to bring our colleagues on the other side to the middle and to govern from the middle and work hard to m

[inaudible] you look at the record for votes. ted for most of the money. >> you're the candidate on the left. >> the media is saying that. >> are you saying that you are the fiscal conservative? [inaudible] >> absolutely. the fact is that not onlym i part of the team that worked on [inaudible] but in 2001 [inaudible] shias voted for most of the major pieces of legislation that have led to the deficit and the dead. over that 10-year period, $70 billion as more than double, and she voted for most of it. >> thank you very much. >> we will see you again. all right, guys. where would you like to meet up? >> [inaudible] i would just drive down there. guys, are you going to any other spots? ok, good to see. >> live coverage of the election results tuesday night on the c- span network. working group. we will take a couple months off for the summer and reconvene in the fall. it's a very fitting that topic of today's discussion is a look ahead at haiti's future over the coming months. certainly we hope after the traumatic event of the recen

when you look at the amount of money they have given to breast cancer, when you look at the amount of money that's given to aids, and all these diseases that we need to do extensive research on, that people that have walked these streets and walked the hollywood hall of fame, when we think about the things that they have done, then i really feel that if he did, he would say wait a minute, every now and then we make a mistake or see say some things that we wish we had not said, and i think that this is the situation now with my colleague, because if you think about the hollywood walk of fame and the contribution that people that are listed on the hollywood walk of fame, then i really feel that he would join us in supporting this legislation. on that note i yield back and ask my good friend on the other side of the aisle to reconsider. the speaker pro tempore: the gentleman from new york yields back the balance of his time. the gentleman from utah is recognized. mr. chaffetz: madam speaker, i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized.

you look just gorgeous out there. ok, so i'm going to be official. thank you, president, again, and at denison board of trustees, especially bill mulligan, who was wonderful and here today. and the staff and all of you for inviting me to say something had your graduation. and this is a commencement speech, right? it has to be little bit interesting. so i am thinking, what do i say? first things third. congratulations to the class of 2010. you did it. you have a lot to be proud of and a lot to look for to perjure families and friends deserve the applause that you just gave them for all of their support and care, and this is their day as well. and a special congratulations -- i could not stand up here and not say that -- to the denison posse scholars. yay, i love you all and i'm proud of you. about 500 use sitting out there, 519 grachev wedding, on the cusp of the next part of your life. and i want to talk a little bit about what is ahead. well, maybe, what i want to talk about his falling in love. that is what is most important, right? right? did you n

you know? i'm lookingt my own participation in this. $24 million later, maybe i didn't yell loud enough but what i was faced with was an apathy. i brought this to foreign governments. i brought this to all -- >> larry: wasn't sexy, huh? maybe we never knew about you and this. >> you know, it is like i don't always talk about the things i'm doing. you know? who cares what you're doing. >> larry: but this should have been known. >> well, i did talk about it. i mean, the people who knew about it is like a who's who when it comes to industry, comes to government agencies. i talked to the epa at the time. i talked to so many people, brought it to bear. i actually sent the many sheen to oil spills. i sent it to japan when they were experiencing an oil spill. i begged to put it on oil spills that were occurring but you -- there's a gigantic catch-22. you can't put your many sheen on an oil spill unless it's been approved and the people wouldn't approve it because it's not on an oil spill. the problem is that this

board of education, and i am sure he told the clerks, here is what i want you to look at. i am the one who is making up my mind on this. here is what i want you to look at. i talked to a lot of people who served as clerks with different justices, both republican or democratic justices across the political spectrum and the clerks tell me the justices normally tell them, look out for certain things. i am particularly interested in such a thing. i am particularly interested -- get me the law that goes to that point. a clerk does what the justice tells him to, but the clerk is not the justice, and the justice in this case is a giant -- the giant of the court, thurgood marshall, he made up his mind of how he was going to vote. justice brennan was another person who spent a great deal of time trying to figure out how he was going to bring both sides of the court together. justice stevens has a reputation of being able to do that. i have no idea what justice stevens or justice brennan told their clerks, but i am sure they said, look for points of this particular area for this part

you think. i know this. look at the muslim attitude studies and look at countries that are surveyed that, after 2001 themselves suffered an attack. the support for al qaeda and bin laden as revolutionries. in 2003, there were too many locals that died. 2005, jordan, hotel attacks. overnight support for zarqawi dissipates. there were attacks and pakistan. going back, as i have said repeatedly, i think this is an ill understood concept, going back to the early 1990's with algeria and egypt, watching 100,000 plus people dying in algeria and when al qaeda is considering whether to affiliate with the algerians, one of the questions is the wonder if they will be sullied by affiliating with people who were not only known as murderers from the 1990's, but who will raise more questions about the appropriateness of this ideology. this is actually -- that killing overseas is ok. what i am telling you is that research in these past few years is that these countries that have had a tax do not show remarkable declines in suppo

what do you look at today's inflation? you are using a tip-spreads. you're using consumer surveys. what indicators do you look at to inform your view on the future of inflation and how much thought you put in those indicators? >> you pointed to a number of them. we look to resource utilization and price-wage pressure which is also right now. unit labor costs are declining, so firms are finding their labor costs are falling rather than rising. inflation expectations are very important. we take some comfort in the fact that our mechanisms have been quite stable. we look broadly at the economy and commodity prices to see what markets are anticipating. it is a very eclectic process. what i would like to say is that even though we have expanded our balance sheet, i have given some testimony in the last few months where i have laid out in some detail how we can exit from those extraordinary policies as needed, when needed without leaving any monetary are in place a very biased in the system. >> you have the ability to pay interest in research. my concern with this to is that we are talki

if i have just another moment ane just say that you look like you could use 10, 15 hours of sleep. i know the hours that you are likely working and we thank you for that. let me ask, a hurrica enters the gul of mexico, wells, rigs and production platform platforms is is there a written plan for this circumstance? >> the answer to that is yes. >>hen they happen in the past, there is down ocrs within the g mexico. the answer, also, with respect to this particular leak is that it is is one of the issues which secretary and i have insisted there be the capacit it is part of the program. >> let me say that i don't mean that the three of you look awful. when i said that you need sleep. this has been a long period. you have not had a day off. good for you. i think this congress wants to do everything ssiblet can do to be supportive. >> thank you. the folks in theulf are hurting. you all are putting in predijeous numbers of hours at this point. i want to ask you about two policy questions that relate to the report. areas that the report doesn't get into. for the future, it will be lving do

if you look to the actual numbers, -- the one that lost had more votes than wrong paul. here were many democrats involved with that election. i believe as we get closer to november that you will see

if you look what is going on now it is really quite amang. ou have peopl out there bodyingold because they thk it's worth sething and then you have the great investors of the world announcing they are buying gold, too bu because the people don't really understand that it's not wort anything. it's got to be worth something that gets reinforced by the fact but investors are buyng gold because others are buying gold. it doesn't rise to a policy level but i think that when we look at the destruction of wealth congressmanfoster mentioned you have a situation where cleay in the housing sector the macroeconomic consequences and the destruction of all the rise to a systemic level and did merit intervention i might say tht five years ago i stard predicting there would be a major credit in housing a is based on readily available data that was pretty simple to understand. what was the change in house prices of the to to the change in income. house of income was going to present and ousing prices 20 or 25% to have a major problem and certainly wasn't on s

looking at the response of bp. this disjointed effort has not pided in helping to contain any of this bill. thank you for coming today and i look forward to your testimony. i yield back, mr. chairman. >> the chair recognizes the gentleman from washington state. >> thank you, mr. chair. today's hearing is untitled drilling down. we've got the five leaders of this industry. i'm interested in what they will say. i think we need to ask if the industry has showw accountability to make sure that the leaders are accountable for safety. i will be interested in finding out how many people of british petroleum have lost their job to date as a result of the most terrific and our model catastrophe in american history. i will be interested in the number. hud also be entered in the numbers of the leaders of industry what they are investing in an effort to develop technologies that can reduce the risk of offshore drilling. the numbers that we have seen and are questions to does witnesses so far are astounding and how small they are, they are all less than 0.1% of profits invested in clean technologies to reduce the

if you look -- if you look at the last election cycle and look at corporate pac money and ask where it go, it goes ten times more to incumbents than to challengers. and in the prior election cycle, even more than that. and for an obvious reason. because when corporations play in the political process, they want winners. they want people who will produce outcomes for them. and they know that the way to get those outcomes, the way to get those winners is to invest in incumbents. and so that's wt they do. as i sasasasasa . . . . . >> several steps we've already begun to take. number one, as i indicated, the budget that we're presenting, three years, discretionary, domestic spending freezes, and i've september a clear signal to the leadership when we met, even if we do not get the entire budget package passed through congress, that top-line number needs to stay firm. and i'm serious about it. we've initiated a whole host of measures to cut programs that aren't working, including, by the way, in the defense area. bob gates has been, i think, as successful as any secretary of defense in rece

you seen him enraged? >> absolutely. i don't see how anybody can lookening in the gulf and not be frustrated and heartbroken. is my microphone on? >> no. >> i said all of those important things than you did not hear it? i was going to give out tomorrow's lottery numbers. can somebody in this something? [laughter] is it working now? this is sort of awkward. [laughter] this never happens at karaoke. [laughter] [applause] the first time that someone has come up for what i said. bill will lips sink the transcript when it comes out. >> is there any consideration being given to the cancellation? >> let me look into that. >> the president said that if laws are broken, then justice will be done. can you give us an idea when the criminal probe will it emerge? >> the attorney general is in the gulf today to meet with state attorneys general. i would refer you to the department of justice. >> in light of what happened with the gaza flotilla, is the president considering at least back in the international call to lift the blockade of the strip by the israeli forces

the fact is one of the more discouraging things is if you really are looking at the level of nonideologicalnking, more pragmatism, more cent trim, you don't find it among highly educated voters, you find it among nonvoters. people who pay no attention to politics. if you look at engaged citizens, they hae moved with the political elite, the washington crowd, in the same way to find the compatibility between the ideology and party. which has set up a powerful form of polarization which democratic changes the way in which our olferring -- governing institution in washington work. it's a long story. andyou've heard a good deal about it and recent months, i don't want to burden you with it. but it is striking fo anyone who's spent a few decades in this town to see the changing nature of our political parties and how that effects the way in which those in senate do business. the house has become even more major tarrian. the senate of course because of th house of filibuster has bece the place at which we see the routine reqirement of the senate which was never anticipated by the framers of the c

[inaudible] you look at the record for votes. voted for most of the money. >> you're the candidate on the left. >> the media is saying that. >> are you saying that you are the fiscal conservative? [inaudible] >> absolutely. the fact is that not only am i part of the team that worked on [inaudible] but in 2001 [inaudible] shias voted for most of the major pieces of legislation that have led to the deficit and the dead. over that 10-year period, $70 billion as more than double, and she voted for most of it. >> thank you very much. >> we will see you again. all right, guys. where would you like to meet up? >> [inaudible] i would just drive down there. guys, are you going to any other spots? ok, good to see. >> live coverage of the election results tuesday night on the c- span network. now will look at bay in louisiana where you can see crude oil and an effort to prevent from reaching beaches and marches. it has been placed on the gusher trapped about 441,000 gallons of oil. in a moment, we will watch maryland drew -- mary landrieu as

when you look at this. one is really hard pressed to look at the supreme court and talk about diversity. i don't think feminization or simply the placing of two on women on the supreme court counts as diversity or diversity of life experiences. they all seem to come from the same general ar. guest: the caller makes a very good point. peter, he - he's absolutely right. if she gets on the court, all nine justices will have gone to harvvrd or yale law school. four of them will have been from the new york area. the even the religious diversity that shouldn't matter. where there's diversity or not. you will have six catholics and three jews but no protestants and two from manhattan. you would have everybody coming from the same, everybody but i believe one from the same northeastern corridor. you have clarence thomas and anthony ennedy from out west of the that's not very diverse at all. to me, diversity doesn't matter as much as qualifications and experience and adjustment. but the left always argues that divers

i'm not that nice. >> larry: you think they make you look nicer than you are? >> a little bit. >> larry: can't you run your own show? >> no, i have no power or authority over it at all. i'm not buying that at all. i think -- first of all, can i talk to -- is it camera one? >> larry: yeah. >> america and global audience, you should know -- i just called you gary king -- >> larry: that's okay. >> am i going to lose an emmy for that? i take it back, gary. gary, don't interrupt me. anyway, larry king just fired three people. >> larry: i did not. >> and it's made me ner vufs. and now i have -- >> larry: you want to know something, griffin? you want to hear something that will kill you and shock you? >> what? >> larry: i've been on the air 53 years. >> what? >> larry: i have never fired a person in my life. domestic -- >> there are two men crying in the men's room -- all right. all right. >> larry: you recently took out this -- this is the ad of the year. >> you're not supposed to say that i took it out. you're supposed to say the network took it out. >> larry: i'm s

you look just gorgeous out there. ok, so i'm going to be official. you, president,again, and at denison board of trustees, especially bill mulligan, who was wonderful and here today. and the staff and all of you for inviting me to say something had your graduation. d this is a commencement speech, right? it has to be little bit interesting. so i am thinking, what do i say? first things third. congratulations to the class of 2010. you did it. you have a lot to be proud of and a lot to look for to perjure families and friends deserve the applause that you just gave them for all of tir support and care, and this is their day as well. and a special congratulations -- i could not stand up here and not say that -- to the denison posse scholars. yay, i love you all and i'm proud of you. about 500 use sitting out there, 519 grachev wedding, on the cusp of the next part of your life. and i want to talk a little bit about what is ahead. well, maybe, what i want to talk about his falling in love. that is what is most important, right? right? did you not learn th

sir, you had to have looked at some of your investigations. internally your investigation did it show any kind of break down? >> it shows -- >> that you with your protocols you said you couldn't place, were any of those shortcuted? >> the investigation is still ongoing. it's identified seven areas. the cement, the casing, the integrity pressure, well control procedure, and three failures of the blow-out preventer. and when the investigation is concluded we'll make the judgment. >> well, i'd say that this problem is with your organization and your safety and the culture of your company, safety culture and not a culture of our domestic oil and gas producers as we can see they haven't had the kind of problems you've had with cutting corners on safety. they have a lot of redundancies, contingency plans. this may not have happened if one of these other companies was operating that rig. would you say that would be true. >> don't think i can make that judgment. >> do you think the other companies have different or stricter or stricter guidelines with

most political cientists will tell you if you want to know what is happening in an election, look at ic indicators as the most reliable predictor. you saw the tea party emerge. 15% of voters if we found in our april survey. it had been slightly higher. it has slightly decreased, so what do they want? they want largely the same things the rest of america wants. they want the economy fixed. 37% said that was their top issue. only 11% said health care. you saw us bike around deficit spending. we saw that even higher in february. this is a group of voters very frustrated about the economy, and they believe spending is out of control, but they are not just looking at economic, conservative policies. we ask them, which of the following is more important -- reducing home region reducing unemployment to 5% or balancing the budget? 63% of them said reducing unemployment. it is not conservative policies as an end unto itself. it is because they boost positive outcome that they get excited about it. what do they believe? we found 64% identify themselves as republican. you have 12% five who said

you mean by a "positive encounter"? >> rutzen: it's where the animal comes to look at you, sees you're not food. really hunting. may be very curious in what you're doing, look at you for a while, and then move off again. you'll never know the animal's there. but the animal knows you're there. >> cooper: and that should tell people what? >> rutzen: it will tell the people that these animals are not out to get us. they're not in our oceans to kill humans. >> cooper: rutzen doesn't take tourists diving with sharks without a cage. but we've dived together before, and he offers to take me for an up-close look at the great whites-- no cage, no protection. on a perfect calm morning, we head to shark alley. we drop anchor, and the chumming begins. it doesn't take long for the sharks to arrive. i'm reminded of a line in the movie "jaws"-- "i think we're going to need a bigger boat." the fact that we have a paramedic on board and an ambulance waiting onshore isn't exactly reassuring. they have been chumming the water for about 40 minutes now, and already spotted four or five great whites circling the boat

i look forward to a testament. >> thank you. dr. troske. >> thank you. i would like to start by thanking the treasury secretary dieter for appearing before us. as the newest member of the panel, i am looking forward to hearing your thoughts about the crisis we have been through, and what we couud expect going forward. i would like to focus on why financial markets have not paid% eight -- not behaved, as i believe they should have if they were a well-functioning competitive market pared their -- market. there are several aspects that i find thatt both surprising and confusing. i would not have expected to see the events if they truly were a a well-functioning, competitive market. while i have not closely studied the sector, you, secretary geithner, have played a key role in dealing with the crisis, and try to understand in preventing a similar crisis. i feel one of the purposes is thh effect of tarp on limiting the financial crisis. and the aspect -- one aspect of the financial crisis that i find confusing is the existence of too big to fail firms. the arg

-- are you looking at a hybrid system? >> i think there is a lot of folks looking at the transition from four to 6. i think it is something that we will have to do at some point. you know, it is kind of interesting when you asked that. i know there are some people that are wondering why we were at vfour, and they are talking about going to at 5 -- to five. i do think it is something that we're going to wait hour -- work our way through. the number of addresses arky, and we have got to come up with something. -- the number of addresses are key. dubee take a step beyond that? and what will that be -- do we take a step beyond that? i admitted that i have an ipad. when you think about all of these tools, the iphones and all of these, it is huge. we are going to have to account for that. that will drive us down a road. i do not know where it is going to end up. -- that will drive us down the road. >> i have a question, and i think it is pretty inherent. it has been touched on a little bit. there is a vulnerability in cyber which

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if you have time to look at it, i suggest you do. the very important part of our portfolio. we also have a school program that benefits children from low- income families who cannot afford to have a meal at home, and that also benefits the extreme for. i know many people do not believe that the world bank for pays attention to the extreme for -- poor, but this is exactly what we do. >> if i could follow up really quickly on this -- in other parts of the world, the world bank is supporting traditional cash transfer programs -- brazil, one major example. >> this is something that we discussed regularly. conditional cash transfer can take various forms. i talked about the school feeding program. it is not a cash transfer as such, but it gives incentives for families to send their children to school. the benefit from the program on conditions that their children go to school, so there are various forms of conditional trap -- cash transfer that you can implement in haiti. the city that i mentioned is also conditional. the community has go

if elected governor, you would be working for all people in the state. as we look at the television ads on the republican side, we shall see a lot of ethnic diversity. why not, representative haley? >> you are looking at a minority female. >> looking at the other people pictured in the ads. you represent women, but why not more diversity? abouton't know as much commercials as the state. as we go across the state, as people talk about the tea party and as i talked about joining the movement, the tea parties are republicans, democrats, and independents who have had enough of government and are going to take it back. those are men and women, all faiths, all minorities. it is one of the things that has made south carolina come together and say we want to take government back. you could talk about commercials, but i will talk about the campaign trail. as i go across the state, have never seen more people series about their government and elected officials so scared. it is beautiful and we want to work for all people. >> your advertisements and ms. representative haley's

because when you first look at it you think oh, boy, she is one of those people that has a portrait of herself. but then take a closer look at the artist. >> larry: the artist is eric menendez. >> ring a bell, larry? >> larry: one of the menendez brothers. >> yes. >> larry: convicted for life in prison for killing his parents. >> well, you know, i don't know the details of the case. >> larry: they shot their parents. >> i would say -- well, i don't think the reloading helped. but i don't know if it's for life. you never know. >> larry: he may get out. >> that's right. and he did a very nice portrait. >> larry: very nice. were you thrilled at this? >> of course. as a comedian, it's heaven for me. when i saw that painting come i thought okay, this is a nice painting. what the heck am i going to do with the painting of myself. that's weird. and then when i looked down and saw erik menendez, i thought this has to be framed. >> larry: that could be big money. >> what? >> larry: a famous convicted killer? >> what do you think if i dumped levi johnston for eric menendez. >> larry: big money.

to what extent do you look at these and external alamance? we look at the level of issues that the population has, about 25% of our kids in foster care. i think that 25% have -- it is amazing. i think 25% to not have eyeglasses and they cannot see the blackboard. 40% have cavities and they have never been a -- to a dentist. we brought free dental and vision care to the schools. you cannot teach a kid who is in pain. we are trying to build with the district a health facility right next door that can serve the entire community. we are also discussing this on a wide variety of issues. when you were asking about the cost of doing the turnaround, these costs are real. we spent a lot of money and this is beyond the money that we got from california. we had to raise a lot of money for this issue. if we look at the problem, this was just beyond the effective teachers. those funds are available for this. we have had to build new buildings for this. if we look at the capacity of the classrooms, we have the dropout rate and this does not work with 25 kid

i look forward to a testament. >> thank you. dr. troske. >> thank you. i would like to start by thanking the treasury secretary dieter for appearing before us. as the newest member of the panel, i am looking forward to hearing your thoughts about the crisis we have been through, and what we couud expect going forward. i would like to focus on why financial markets have not paid eight -- not behaved, as i believe they should have if they were a well-functioning competitive market pared their -- market. there are several aspects that i find that both surprising and confusing. i would not have expected to see the events if they truly were a a well-functioning, competitive market. while i have not closely studied the sector, you, secretary geithner, have played a key role in dealing with the crisis, and try to understand in preventing a similar crisis. i feel one of the purposes is the effect of tarp on limiting the financial crisis. and the aspect -- one aspect of the financial crisis that i find confusing is the existence of too big to fail firms. the argum

[inaudible] you are looking toward trouble. [inaudible] internet is a charity needs to be dealt with. [inaudible] the american disabilities act needs to be upgraded. i guess that is set. >> you have a couple points in there. this bill on the gulf as a tremdous problem. we have to cap it. and we of down for a number of days that the oil is coming to the coast and we have to be able to protect that. a hurricane season is coming as well. they have preparation time to be able to do that. they have been working for quite some time to protect the march. you come backwith the skippers and picked up, you have greater protection. ford of what i fin out, they were telling me the story where the continually fight to work with the locals. he picked up the phone and called the president, and he said that the president was busy. the president has not call them bad. they cannot wait it. they are small parishes tried to do that and that is not right. a couple of different questions as you could do. when we look at this time if you have toook a

if you look at the reports, we look at how much it has grown and what it would be. even if you took everything we have said, you would still be sending 1.5 times more than your potential adversary. those are things that -- when you say that to people, they understand. in the report, it has been pointed out that during the cold war, we spent 60% as much as our adversaries and potential adversaries. 250%, if we bring that back we will still be at 150%. >> is there is sustainable level you are looking for? is there agreement among q to say at least to return to that pre-9/11 levels? >> there are numbers in here. reducing by nearly $1 children -- trillion less than was there. if you ask anybody there, you might get a lower number starting from scratch. we are operating within that context. that may go back to the f-35. it depends on how it is the fine. if you assume that we should keep spending all of this money on the f-35. the engine becomes stronger. if you just get rid of the whole thing, you are ok. that is what i am for. the president has asked for too little so he

you understand the court is a different branch of government. and it is more monumental. it looks more like the jefferson memorial or the lon -- lincoln memorial. you can view ii as something of a temple of justice, i think that is entirely appropriate. >> when you first come up the steps there are two candle abra and they have one of your first symbols, which is a blind folded justice holding the scales of justice. it is a symbolic identification that this has something to do with the law. as you travel up, you see symbols of law and knowledge indicating that the buildings have a purpose, which is the supreme court and the law. >> in couldn't place of justice, in her right hand, she holds blind folded justice. the blindfolded justice is a symbol of impartiality. on the right side of the stair case, the other statue is the authority of law. his left arm rests on a book with the latin term meaning "law." "lex." >> it is important foo the public to always want to come up these steps because we are doing the job the right way. not a day goes by when we ask ourselves, are we doing thi