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Jun 26, 2009
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america knew there were misrepresentations in the financial status? >> again. those judgments were up to bank of america. our job was to make sure the system was stabilized and that was our primary focus. >> mr. chairman why did you think it was necessary for bia to inquire merrill lynch, when lehman had been allowed to fail? what was the thinking of saving aig, merrill and in these companies failed to adequately perform and uphold their fiduciary responsibility to its stockholders? what made this different from lehman? >> we made extraordinary efforts to prevent women from failing a we were unsuccessful partly because the couldn't find a merger partner and bank of america was a potential partner. they decided against it and we did not try to endorse them to do it. we didn't have the powers and that is why they failed. we have for very concerned about it and our concerns proved to be justified. with respect to the other cases we did everything we could to avoid this is the mcfeeley because of the rest of the financial system. aig was possible to addre
america knew there were misrepresentations in the financial status? >> again. those judgments were up to bank of america. our job was to make sure the system was stabilized and that was our primary focus. >> mr. chairman why did you think it was necessary for bia to inquire merrill lynch, when lehman had been allowed to fail? what was the thinking of saving aig, merrill and in these companies failed to adequately perform and uphold their fiduciary responsibility to its stockholders?...
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Jun 28, 2009
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america knew there were misreputations in the financial status of b of a? >> well, again, those judgments were up to bank of america. our job was to try to make sure the system was stabilized. >> mr. chairman, why did you think it was nice for b of a to acquire merrill lynch when lehman had been allowed to fail? what was the thinking of saving a.i. g meryl and citigroup when these companies had failed to adequately perform and uphold their fiduciary responsibilities to their stockholders? what made these three different from lehman? >> we made extraordinary efforts to prevent lehman from failing. we were unsuccessful, partly because we could not find a merger partner. bank of america was a potential partner. they decided against it and we didn't try to coerce them to do it. we didn't have the powers to save lehman and that's why they failed, very much -- we were very concerned about it and our concerns proved to be justified. with respect to the other cases, we did everything we could to avoid a systemic failure because of the risks to the system, a.i.g. wa
america knew there were misreputations in the financial status of b of a? >> well, again, those judgments were up to bank of america. our job was to try to make sure the system was stabilized. >> mr. chairman, why did you think it was nice for b of a to acquire merrill lynch when lehman had been allowed to fail? what was the thinking of saving a.i. g meryl and citigroup when these companies had failed to adequately perform and uphold their fiduciary responsibilities to their...
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Jun 19, 2009
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well, i believe the officials of america, some european countries, they should feel a little embarrassed and they should not open their mouths and say anything they want to say. the islamic republic is the manner of defending humanity. we support the people of palestine, iraq, afghanistan. anywhere where people are being oppressed, we support them. and this is the sign that we are raising the flock of human rights. that believing in islam, that is raised in this country. we do not need any advice on human rights. that's what i wanted to say about the election. and finally, i want to address the 12 imam, shiite. [chanting] >> translator: we tell him that we are doing what we have to do, what we are obliged to do. and we have said what we have had to say. i have my own life. i have a handicap th handicappe. and i have a little good name that i hold that to you. i put this all on the line, and i am ready to sacrifice all i have for the cause of this revolution and the establishment. i am offering it all to you. we want you, to pray for us. everything in this country, the revolution belongs
well, i believe the officials of america, some european countries, they should feel a little embarrassed and they should not open their mouths and say anything they want to say. the islamic republic is the manner of defending humanity. we support the people of palestine, iraq, afghanistan. anywhere where people are being oppressed, we support them. and this is the sign that we are raising the flock of human rights. that believing in islam, that is raised in this country. we do not need any...
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Jun 19, 2009
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well, i believe the officials of america and some european countries should feel a little embarrassed and should not open their mouth and say anything they want to say. . we will bring you the annual radio and tv correspondents dinner, including president obama's speech. on today's program, mary agnes carey and today's news and phone calls. washington journal starts now. >> good morning. the senate health committee continues to mark up its version of the health care bill. president obama will be attending a prayer breakfast. we begin with a look at the economy. a story posted on the government deficit. the government spent one nearly $150 billion in may more than it took in. twin threat facing the agenda. and there is a story on inflation out today. the economy and inflation is our first topic today. call the numbers on your screen. you can also send us a comment on twitter. let's look at some headlines. there is a story on inflation and the federal reserve. people who worry about inflation may not have fully grasped the ramifications of american households leveraging. the pullback is
well, i believe the officials of america and some european countries should feel a little embarrassed and should not open their mouth and say anything they want to say. . we will bring you the annual radio and tv correspondents dinner, including president obama's speech. on today's program, mary agnes carey and today's news and phone calls. washington journal starts now. >> good morning. the senate health committee continues to mark up its version of the health care bill. president obama...
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Jun 28, 2009
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senior officials of the fed believed that bank of america could be in violation of securities laws for failing to inform shareholders about the merrill lynch colossus known in mid november. for the more, they believe that ken lewis's threat of invoking a mac was a bargaining chip and bank of america was experiencing its own losses independent of merrill lynch in needed to be buildout itself in that there were serious doubts about the confidence of bank of america's management. yet, in spite of the fed paused doubts felt about ken lewis's management of bank of america, the feds leadership the fed required no changes whatsoever in bank of america's deficient corporate leadership. the fed even gaigave it more moy than what ken lewis had originally asked for. the disconnection between the analysis of the fed about what went wrong at bank of america and what the fed was willing to do about it is significant for all of us and is the subject of today's hearing. if the bank of america/merrill
senior officials of the fed believed that bank of america could be in violation of securities laws for failing to inform shareholders about the merrill lynch colossus known in mid november. for the more, they believe that ken lewis's threat of invoking a mac was a bargaining chip and bank of america was experiencing its own losses independent of merrill lynch in needed to be buildout itself in that there were serious doubts about the confidence of bank of america's management. yet, in spite of...
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Jun 25, 2009
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pressured bank of america with a merger with merrill lynch that cost taxpayers $20 billion. live coverage of the house oversight committee hearing at 10:00 a.m. eastern time on c- span radio. also on the hill, former vice president al gore meets with the democratic caucus at lunchtime in support of a scheduled vote this week on energy and climate change. and those are some of the headlines on c-span radio. >> as this year's supreme court term comes to an end, here it chief justice robert stock about the court's work. then a panel of experienced court watchers including linda greenhouse, jan crawford greenberg, and ted olson review the decisions. saturday morning at 9:00 a.m. eastern. >> july 4 weekend, discover an unfamiliar side of our nation's first president as we are live from george washington's mount vernon estate with historian and author john ferling. sunday, july 5, lion on "in depth." >> "washington journal" continues. host: we want to welcome back eric cantor, house minority leader and republican from virginia is seventh congressional district. thank you for being
pressured bank of america with a merger with merrill lynch that cost taxpayers $20 billion. live coverage of the house oversight committee hearing at 10:00 a.m. eastern time on c- span radio. also on the hill, former vice president al gore meets with the democratic caucus at lunchtime in support of a scheduled vote this week on energy and climate change. and those are some of the headlines on c-span radio. >> as this year's supreme court term comes to an end, here it chief justice robert...
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Jun 11, 2009
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overseeing federal assistance to america's domestic auto industry. failure of any one of detroit's big three poses obviously i believe a grave systemic risk to the economy threatening hundreds of thousands of jobs directly provided by these companies and imperiling more jobs with related industries from suppliers to car dealers, some 20,000 people in my home state of connecticut alone that are directly employed or indirectly by the automobile industry. it is for these reasons that president bush and later president obama martialed the resources of our government, not only to preserve countless american jobs but to help re-establish a foundation for a viable and competitive domestic auto industry. when general motors and chrysler buckling under colossal liabilities racked up after years of incompetent management over $170 billion in debt for general motors and $55 billion in debt for chrysler, the obama administration auto task force helped develop a plan to recapitalize and overhaul the strategic, financial and organizational structure. the plan is l
overseeing federal assistance to america's domestic auto industry. failure of any one of detroit's big three poses obviously i believe a grave systemic risk to the economy threatening hundreds of thousands of jobs directly provided by these companies and imperiling more jobs with related industries from suppliers to car dealers, some 20,000 people in my home state of connecticut alone that are directly employed or indirectly by the automobile industry. it is for these reasons that president...
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Jun 12, 2009
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lewis can shed light on his personal interaction with government officials. i intend to ask him about the participation -- about his participation in initial capital injections, and to what extent they were forced upon bank of america. as someone from an auto making country, i would like to know the extent to which the government is currently involved in day-to-day operations of the company. i he cirmanhe ramembked aut that. we look forward to that happened in a bipartisan fashion in the near future. thank you for that. with that i yield my time if i could to henry to introduce our witness. >> mr. henry -- >> thank you, mr. chairman. today i have the privilege of introducing our witness whose company is headquartered in charlotte, north carolina. my district is just to the west of. the only committee from the carolinas i think it's my duty and privilege to introduce our witness. kenneth d. lewis is the chief executive officer of bank of america. he's responsible for more than $55 million consumer and small business relationships and $1.7 trillion in total cli
lewis can shed light on his personal interaction with government officials. i intend to ask him about the participation -- about his participation in initial capital injections, and to what extent they were forced upon bank of america. as someone from an auto making country, i would like to know the extent to which the government is currently involved in day-to-day operations of the company. i he cirmanhe ramembked aut that. we look forward to that happened in a bipartisan fashion in the near...
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Jun 13, 2009
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the other officials described this as a smoking gun. isn't it true, more than half of the decline in your all important was not caused by merrill lynch? >> your apples and oranges. the securities -- >> maybe rotten apples and rotten apples. isn't it true you were told if you went through with the mac and later needed financial assistance from the government you wouldn't get it, isn't it true? >> repeat that, please. >> inthat if you went through t mac and later needed financial assistance from the government, wrnlts you told you wouldn't get it? >> i think i seen it in. an e-mail. >> give the precarious amount of your balance sheet you believed at the time you could reasonably could need financial assistance from the government in the future? >> the preferred stock does nothing to help the tangible common equity ratio. >> you wouldn't think about it. if you got $15 billion on october and you're going to come back two months later and ask for another $20 billion. 15 and then 20 billion, does it it show -- doesn't that show that it really
the other officials described this as a smoking gun. isn't it true, more than half of the decline in your all important was not caused by merrill lynch? >> your apples and oranges. the securities -- >> maybe rotten apples and rotten apples. isn't it true you were told if you went through with the mac and later needed financial assistance from the government you wouldn't get it, isn't it true? >> repeat that, please. >> inthat if you went through t mac and later needed...
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Jun 11, 2009
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who are giving assistance to america's auto industry. failure of any one of detroit's's big three poses a systemic risk to the economy. from suppliers, to car dealers, some 20,000 people in my home state of connecticut alone are directly employed by the auto industry. it is for these reasons that president bush and president obama march and the resources of our government to preserve countless american jobs and to reestablish a domestic auto industry. there buckling under a hundred $70 billion in debt for general motors, -- $170 billion in debt for general motors. the plan has largely been adopted as one of the prepackaged gm and chrysler bankruptcy proposals. i believe that once finalized, they will result in a savings of thousands of american jobs. that is my hope. and potentially, the preservation of a critical sector. communities all across collation are not going to be scared. -- to be scared -- spared. it will continue to raise questions over unprecedented government involvement. to me, these questions can be summed up as follows.
who are giving assistance to america's auto industry. failure of any one of detroit's's big three poses a systemic risk to the economy. from suppliers, to car dealers, some 20,000 people in my home state of connecticut alone are directly employed by the auto industry. it is for these reasons that president bush and president obama march and the resources of our government to preserve countless american jobs and to reestablish a domestic auto industry. there buckling under a hundred $70 billion...
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Jun 14, 2009
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risk, and make america less safe. so that language is critically important to stay in this bill, if, in fact, that is going to happen. but it is pretty clear, from what i'm hearing, that the democrat leaders, under pressure from the far left, appear to be ready to take that language out of the bill. i think they are making a very big mistake. >> back to health care for a moment. senator conrad unveiled a co-op plan in the finance committee, and this is what senator greg said about it. senator gregg put out a bill involving co-ops, so there were people thinking in a plan -- thinking about a plan that would be bipartisan. what do you think about a plan that would allow consumers to choose? >> i think there is a lot of work that needs to go into this idea. it is interesting. i'm sure that in the coming weeks there is going to be more developed so that we can take a look and see what is this idea and how would it work. we've had things like mewa's, multiemployer welfare arrangements that were not regulated and turned out
risk, and make america less safe. so that language is critically important to stay in this bill, if, in fact, that is going to happen. but it is pretty clear, from what i'm hearing, that the democrat leaders, under pressure from the far left, appear to be ready to take that language out of the bill. i think they are making a very big mistake. >> back to health care for a moment. senator conrad unveiled a co-op plan in the finance committee, and this is what senator greg said about it....
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Jun 23, 2009
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it officially starts today and runs for the national day of service on september 11. they focus on key areas where everyone can have an impact on their communities. health care and energy renewal. the president and first lady of calling on all americans to go to the website, www.serve.gov. the first lady and senior administration officials are out across the country to mark this occasion. with that, questions? >> on the medicare prescription drug agreement, is there a glitch in that agreement? would that be why? >>
it officially starts today and runs for the national day of service on september 11. they focus on key areas where everyone can have an impact on their communities. health care and energy renewal. the president and first lady of calling on all americans to go to the website, www.serve.gov. the first lady and senior administration officials are out across the country to mark this occasion. with that, questions? >> on the medicare prescription drug agreement, is there a glitch in that...
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Jun 12, 2009
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at much greater risk and make america less safe so that language is critically important to stay in this bill, if, in fact, that is going to happen. it is prosecute clear from what i'm hearing the democrat leaders are for the far left appear to be ready to take that language out of the bill. i think they are making a very big mistake. >> last question on health care. >> senator conrad unveiled a co-on plan last night of the finance committee. this is what senator greg said about it. it is an interesting idea involving co-ops. there are others thinking in a more constructive way about how you get to a plan that would be bipartisan. what do you think about a co-op plan that would be nonprofit that would allow consumers to choose -- >> i think there is a lot of work that needs to go into this idea. it is interesting, i'm sure that in the coming weeks there is going to be more developed so that we can take a look and see what is this idea and how would it work? you know, we have had -- we've had things like mpwr that were not regulated properly that turned out to be a very big problem.
at much greater risk and make america less safe so that language is critically important to stay in this bill, if, in fact, that is going to happen. it is prosecute clear from what i'm hearing the democrat leaders are for the far left appear to be ready to take that language out of the bill. i think they are making a very big mistake. >> last question on health care. >> senator conrad unveiled a co-on plan last night of the finance committee. this is what senator greg said about it....
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Jun 14, 2009
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we have by officials and ethanol, new breakthroughs in hydrogen, wind, and solar. america today is artificially weakened by bad government policies, which favor imports over american energy. dowling to the saudi king is not an energy policy. [applause] for national security, for the national economy, we should keep the money here. the next grade building boom ought to be in denver, not to buy. the american people agree. we launched a petition drive of drill here, drawn-out, payless. it 79 percent of the american people agree that both for economic reasons and national security, we should develop american energy, and that it is a key to our future. the american people reject an american energy tax. this is an energy tax. every american at every level will pay it, and it will export jobs to china. [applause] the american people reject an environmental protection agency which is exaggerating its power. we should replace the current bureauatic system at epa with an entrepreneurial system that is fundamentally different. americans reject the liberal principle of paying
we have by officials and ethanol, new breakthroughs in hydrogen, wind, and solar. america today is artificially weakened by bad government policies, which favor imports over american energy. dowling to the saudi king is not an energy policy. [applause] for national security, for the national economy, we should keep the money here. the next grade building boom ought to be in denver, not to buy. the american people agree. we launched a petition drive of drill here, drawn-out, payless. it 79...
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Jun 28, 2009
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the new york fed official is asked have we conveyed anything to the sec regarding the bank of america situation? the know something's up. how much if anything has been shared with the sec? mr. alvarez said i did discuss with sec. bank of america can plant someone did talk to the sec with a result the sec called late last week to say that they heard the bank of america was negotiating a deal with the u.s. government and to ask bank of america to explain the unexpectedly high losses at merrill lynch. you didn't direct any of those? >> i did not. >> does mr. elder is work for you? >> he does. >> he did this on his own? >> again, i would emphasize the issues at hand didn't directly involve the sec. the involved -- >> are you his boss? >> i'm sorry? >> are you his boss, mr. alvarez? >> ibm. >> what he do something like this, make this kind of statement that could cause these kind of problems without your authority? >> i didn't have any knowledge of this particular exchange, and again, the rationale as understand now having discussed with him is the agencies that were relevant to our transa
the new york fed official is asked have we conveyed anything to the sec regarding the bank of america situation? the know something's up. how much if anything has been shared with the sec? mr. alvarez said i did discuss with sec. bank of america can plant someone did talk to the sec with a result the sec called late last week to say that they heard the bank of america was negotiating a deal with the u.s. government and to ask bank of america to explain the unexpectedly high losses at merrill...
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Jun 26, 2009
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local, state and federal officials have stressed the need for policies to create jobs. this cap and trade proposal will fail to do that when america needs them. we will lose jobs, manufacturers will move their plants to other countries with cheaper energy and lower taxes, hurting american workers and the environment globally. in the past years i have watched house democrats defeat every meaningful proposal for job creation that has been proposed in this chamber and we have to bring an end to that. this bill is nothing more than the economic colonization of the heartland by the coastal states like new york and california. the one thing i will tell you, it is not about energy but confiscation of wealth. vote no to protect our children's future. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from new york. mr. rangel: i would like to inquire. we have one speaker, and it would be me to conclude. i would like to see whether the other side s more than one speaker. mr. camp: we have five speakers remaining. mr. rangel: i reserve. the spe
local, state and federal officials have stressed the need for policies to create jobs. this cap and trade proposal will fail to do that when america needs them. we will lose jobs, manufacturers will move their plants to other countries with cheaper energy and lower taxes, hurting american workers and the environment globally. in the past years i have watched house democrats defeat every meaningful proposal for job creation that has been proposed in this chamber and we have to bring an end to...
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Jun 22, 2009
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united we serve officially starts today and runs through the national day of service and remembrance on september 11th. the president is calling on all americans to participate in projects focusing on four key areas where people can have an impact in their communities, energy, healthcare, education and community renewal. the president and first lady are calling on all americans to visit corporation for national community services's web site, www.serve important governor to find service projects to mark the kickoff, the first lady as well 19 cabinet secretaries and senior administration officials are fanned out across the country to participate in a wide variety of service projects to mark this occasion. with that. >> on the medicare prescription drug subject, is there some glitch in that agreement or are negotiations still going on? is that why -- >> well, would i direct you to the finance committee. i think as they say, the story you wrote, they are still continuing to work through some of the details on that, but again, today's event was focused on -- i would point you to talking t
united we serve officially starts today and runs through the national day of service and remembrance on september 11th. the president is calling on all americans to participate in projects focusing on four key areas where people can have an impact in their communities, energy, healthcare, education and community renewal. the president and first lady are calling on all americans to visit corporation for national community services's web site, www.serve important governor to find service projects...
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Jun 24, 2009
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when will america stop being one big hit agree? i'm sick of these elected officials and so-called expert to get on tv and have no, have no idea of the history of this country and what we have done tuesday iranian people. host: historical perspective can be a big part of this. guest: yes, the caller raises a good point. obama raised couthe question abt that coup. the ayatollah khamenei led a revolution that overthrew the government. that is when hostages were taken in the u.s. embassy. it began 30 years of very antagonistic relations between the u.s. and iran. part of what the caller is frustrated with -- use the word hypocrisy, which i think it's an interesting term, one that i think the obama administration is aware of. if you look at cuba, for example, it is something that is a hypocritical u.s. policy in a part of the world that drives a lot of countries down their crazy. his talk about the embargo in cuba and its limits. he talked in cairo about the 1953 coup. other that will clear the air and allow people to start over -- mayb
when will america stop being one big hit agree? i'm sick of these elected officials and so-called expert to get on tv and have no, have no idea of the history of this country and what we have done tuesday iranian people. host: historical perspective can be a big part of this. guest: yes, the caller raises a good point. obama raised couthe question abt that coup. the ayatollah khamenei led a revolution that overthrew the government. that is when hostages were taken in the u.s. embassy. it began...
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Jun 27, 2009
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that is why it is so important to america. it invests in high tech transmission lines to build the official foundation for a more efficient grid. that is essential if the energy we produce can be delivered to those who need it in businesses and homes. nutrition lines comprised of superconducting cable will carry more power in existing rights of way with less land use. the result will be a more security and environmentally friendly grid. that is what this bill does. i worked with the chairman and others to insure those were included because they are such an important part of a more cost effective energy efficient future our done needs. the bill includes the reduction of our carbon emissions by 17% by "20/20." some would like to do more. some would like to do less. but we have reached a compromise. that is the legistlative process, and it is a compromise that can pass this house, pass the senate, be signed by the president, become law and make progress. that is what our responsibility is. and then an a more than 80% reduction by
that is why it is so important to america. it invests in high tech transmission lines to build the official foundation for a more efficient grid. that is essential if the energy we produce can be delivered to those who need it in businesses and homes. nutrition lines comprised of superconducting cable will carry more power in existing rights of way with less land use. the result will be a more security and environmentally friendly grid. that is what this bill does. i worked with the chairman...
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Jun 30, 2009
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guest: a lot of the top officials of the honduran military has been trained at the school of the americas, which has been renamed, but is still the same place. in my view, there is no real reason for the existence of the school of the americas. it's militarizes our relations with central america. what we need in central america is demilitarization. i did not mean necessarily the abolition of the military in places where it exists, but at least taking away any role they have the with internal policy and reducing their numbers. what we need now, as i mentioned before, it is some kind of institute presumably under the oas and with the united states support to train people in public administration from economic, and social development. this is what central america needs, not more militarization. host: this photograph from the associated press and siad "the washington post" as the riot police scatter -- it is not blood, but spray-painted stopped the protesters outside the presidential palace in the capital city of honduras. john is on the phone from frederick, maryland. caller: i wondering if
guest: a lot of the top officials of the honduran military has been trained at the school of the americas, which has been renamed, but is still the same place. in my view, there is no real reason for the existence of the school of the americas. it's militarizes our relations with central america. what we need in central america is demilitarization. i did not mean necessarily the abolition of the military in places where it exists, but at least taking away any role they have the with internal...
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Jun 21, 2009
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america is better off with increasing the number of black officials who gained office in large part due to the deliberate drawing of majority-minority constituencies, but black politics has come of age and black politicians can protect their turf, fight for their interests, and successfully compete even for the presidency. today, most southern states have higher registration rates than those outside the region and over 900 blacks hold office, public office in mississippi alone. covered and non-covered states in the south are almost indistinguishable by the measure of african-americans elected to state legislatures. massive disenfranchisement is ancient history, as unlikely to return as segregated water fountains. and yet section 5, the pre-clarence provision was actually street end in 2006. it was always a temporary emergency measure, and thus periodically up for renewal. three years ago, its life was extended for another quarter century. in passing the amendments of 2006 with a barely a day centsing vote, republicans and democrats alike accepted the argument offered by civil rights adv
america is better off with increasing the number of black officials who gained office in large part due to the deliberate drawing of majority-minority constituencies, but black politics has come of age and black politicians can protect their turf, fight for their interests, and successfully compete even for the presidency. today, most southern states have higher registration rates than those outside the region and over 900 blacks hold office, public office in mississippi alone. covered and...
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Jun 13, 2009
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lewis canshed light on his personal interaction with the government officials. and i intend to ask him about the participation in the initial -- about his participation in the initial capital injections and to what extent they were forced upon bank of america and as someone who comes from an auto making count rirks i also would like to note the extent to which the government is currently involved in theday to day operations of the company. the full underscoring requires the government's decision makers, in this case mr. paulson and mr. bernanke, to appear before this committee to answer the tough question that is the american people demand to be answered. i know that the chairman and ranking member talked about that. we look forward to that happening in a bipartisan fashion in the near future. again, thank you, mr. chairman, for this opportunity to make the opening statement. with that, i yield my time to mr. mchenry to introduce our witness. >> mr. mchenry. >> thank you, mr. chairman. today i have the privilege of introducing our witness whose company is head q
lewis canshed light on his personal interaction with the government officials. and i intend to ask him about the participation in the initial -- about his participation in the initial capital injections and to what extent they were forced upon bank of america and as someone who comes from an auto making count rirks i also would like to note the extent to which the government is currently involved in theday to day operations of the company. the full underscoring requires the government's...
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Jun 13, 2009
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thought it was in the best interest of bank of america and the shareholders? >> yes, there's been a lot of talk about the pressure from the federal government. it is true we were told if we went through -- i can't remember the exact words. please give me license with words for word. but basic ally went through wit calling them -- that the government could or would remove management and the board. i've said in the past that the threat -- the threat was not what gave me concern. what gave me concern that they would make that threat to a bank in good standing. it shows the seriousness with what they thought we should not call. so as a results of that that was a factor in our decision. they're saying we don't think it's the best thing for you or the financial system. you weren't assured you would win the mac. if you lost you were subject to severe lawsuits and severe amounts of money you would have to pay. we thought given the fact that the government felt that strongly and the fact that there was a risk that you wouldn't get, you would not win the mac. and finall
thought it was in the best interest of bank of america and the shareholders? >> yes, there's been a lot of talk about the pressure from the federal government. it is true we were told if we went through -- i can't remember the exact words. please give me license with words for word. but basic ally went through wit calling them -- that the government could or would remove management and the board. i've said in the past that the threat -- the threat was not what gave me concern. what gave...
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Jun 15, 2009
06/09
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is that on the sweet spot of mental health america? how does that fail? i guess dr. q'uaran kessler will -- dr. kessler will talk about the average person in the course of their life will experience a mental disorder will experience by age 14 and the average lifetime before first having symptoms and getting care is nine years in the united states of america of. the understanding of untreated mental depression can interrupt the moms ability to turn on those receptors in a baby's brain that is critical to developing that relationship and that can lead to behavioral problems and they conducted disorder which we understand at a scientific link their reports out about prevention and just out about depression and and young people and adults and this is a timely. the question of how we make the sale i like the metaphor of cocaine that car to that train. our message in this community, we have to get more clear about but a message to prevention and wellness and the centrality the surgeon general said mental health is the essential to overall health, that has to be what we foc
is that on the sweet spot of mental health america? how does that fail? i guess dr. q'uaran kessler will -- dr. kessler will talk about the average person in the course of their life will experience a mental disorder will experience by age 14 and the average lifetime before first having symptoms and getting care is nine years in the united states of america of. the understanding of untreated mental depression can interrupt the moms ability to turn on those receptors in a baby's brain that is...
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Jun 26, 2009
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at the fed believed in contradiction to ken louis's representations' that bank of america failed to do adequate due diligence in acquiring merrill lynch. the fed found bank of america had known about accelerating losses at merrill since that november when shareholders could have used the information to decide on ratification. your colleague doubted the competence of bank of america's top management to address the problems at merrill and bank of america writing to you and i quote, spoke with folks this morning, mostly joe price, cfo, did not instill a ton of confidence that they have got a comprehensive handle on the situation, and of quote, and the senior lawyer at the fed believed the bank of america could be in violation of security laws for failing to inform shareholders about the merrill loss is known in the mid november. this was writing to you, quote, lewis should have been aware at the problem at merrill lynch earlier. perhaps as early as mid november and not caught by surprise. that could cause other problems for him and around the disclosures made for the shareholder vote,
at the fed believed in contradiction to ken louis's representations' that bank of america failed to do adequate due diligence in acquiring merrill lynch. the fed found bank of america had known about accelerating losses at merrill since that november when shareholders could have used the information to decide on ratification. your colleague doubted the competence of bank of america's top management to address the problems at merrill and bank of america writing to you and i quote, spoke with...
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Jun 27, 2009
06/09
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i can say this with confidence, although there are no official statistics to support this, joe is the most accomplished photographer of american photography in america and his catalog is distributed worldwide. his images show up everywhere. joe will be on a plane and see one of his shots and didn't know it was going to appear there because he has agents around the world working for him distributing the shots. it's great. you go home, go to the mailbox and see where the latest check came from. some of the things that have changed technologically have actually changed that business dramatically as well. his images are published over 10,000 times a year. websites, periodicals, tv, film, you name it, some of the places that are more high profile, you may have seen. some of his images in al gore's film, an inconvenient truth. on the credit card of the u.s. olympic team. open closeup publications. maybe that capitol hill brochure joe introduced you to. it's a match made in heaven based on the things that joe photographs and the things that closeup has interest in. with i interviewed joe to
i can say this with confidence, although there are no official statistics to support this, joe is the most accomplished photographer of american photography in america and his catalog is distributed worldwide. his images show up everywhere. joe will be on a plane and see one of his shots and didn't know it was going to appear there because he has agents around the world working for him distributing the shots. it's great. you go home, go to the mailbox and see where the latest check came from....
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Jun 30, 2009
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you, the united states of america, are the indispensable partner. we don't necessarily want you with us every minute of every day in our country, on our soil, in our water or in the air overhead, but we'd like you nearby. we want you to be able to come when we need you. we want to exercise operate -- we want our young men and women to go to school with you. preferably in the united states, and we like our young men and women to go to school there. admiral walt doran attended the indian military academy years ago and he still cites that as one of the great reasons for the success he enjoyed in our particular air responsibility. so partnership, absolutely essential. readiness, we've got to be out there, presence, you can't do it virtually. you've got to be able to deploy, fly, steam, sail, get to however you can and operate with these folks so that they develop the understanding of what we the united states of america offer them. and through all of this, the new strategy we hope builds an easy -- i'm sorry, a simple but not easy way to ensure peace an
you, the united states of america, are the indispensable partner. we don't necessarily want you with us every minute of every day in our country, on our soil, in our water or in the air overhead, but we'd like you nearby. we want you to be able to come when we need you. we want to exercise operate -- we want our young men and women to go to school with you. preferably in the united states, and we like our young men and women to go to school there. admiral walt doran attended the indian military...
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Jun 15, 2009
06/09
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as central to health care reform, is that in a sweet spot of mental health america or what? so then the question is, how does that say of it made? i know that doctor ron kessler will talk at this conference about his findings that the average person who in the course of their life will experience a mental disorder will experience it by the age of 14. 75% by the age of 23. and that the average lifetime between first having symptoms and interim chair is nine years. in the united states of america. so the understanding, for example, of how untreated mental depression can interrupt the mom's ability to turn on those receptors in the baby's brain that are critical to developing the relationships and how that can leave later on to behavioral problems and a conduct disorder, you know, which we understand the scientific link there. the report just out from the iom about prevention, and the report just out about depression in young people and their adults, boy, is this tough time at. so the question though of how we make the sale to, and i really like the metaphor of poking our car t
as central to health care reform, is that in a sweet spot of mental health america or what? so then the question is, how does that say of it made? i know that doctor ron kessler will talk at this conference about his findings that the average person who in the course of their life will experience a mental disorder will experience it by the age of 14. 75% by the age of 23. and that the average lifetime between first having symptoms and interim chair is nine years. in the united states of...
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Jun 12, 2009
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encountered opportunities in which we've discussed the welfare of their people and america's desire to help. and it was my experience over the years that at least the people that we were dealing with were genuinely concerned about the welfare of their people. many of the negotiations that i participated in in the past focused on the issue of food assistance and humanitarian assistance and new projects designed at helping the north korean people. and i would say i have never encountered a dprk official who brushed aside the needs of their people, the people that we were dealing with took this seriously, so seriously that hours and hours and hours of negotiations were devoted to this topic of how can we best improve the lives of their people. >> actually, senator corker, if i could just add onto that. it is undeniable that the recent food program that we just conducted had very high levels of approval and support. and that was in and of itself, i think, important evidence of the desire for ensuring there was well-being. >> mr. chairman, thank you. and i thank each of you. >> thank you
encountered opportunities in which we've discussed the welfare of their people and america's desire to help. and it was my experience over the years that at least the people that we were dealing with were genuinely concerned about the welfare of their people. many of the negotiations that i participated in in the past focused on the issue of food assistance and humanitarian assistance and new projects designed at helping the north korean people. and i would say i have never encountered a dprk...
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Jun 18, 2009
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today in the united states senate, we pledge to move beyond this shameful period and we officially acknowledge and apologize for the institution of slavery in this country and what many refer to as the original sin of america, which was once woven into the fabric of our nation and for the federal laws that we passed in this chamber and upheld by the highest court in our lands -- the supreme court. my colleague has already referred to some of those. i want to refer passingly to several as well. laws such as the fugitive slave law first approved on february 12, 1793, amended in 1850 and 1864, sought to punish those persons who dared to escape the brutalty of slavery and those who helped to free individuals in bondage. not only would a suspected runaway slave be dragged into court but would be unable to say a word on his or her behalf. not one word. they weren't allowed to say a single word. my colleague mentioned the missouri compromise of 1820 was crafted as a solution to the ever increasing and volatile dispute over the question of slavery in the united states. 1891 when missouri sought stateh
today in the united states senate, we pledge to move beyond this shameful period and we officially acknowledge and apologize for the institution of slavery in this country and what many refer to as the original sin of america, which was once woven into the fabric of our nation and for the federal laws that we passed in this chamber and upheld by the highest court in our lands -- the supreme court. my colleague has already referred to some of those. i want to refer passingly to several as well....
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Jun 26, 2009
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i do believe that it's our responsibility as elected officials to fight for what is best in our district in accordance with the rules guiding federal programs. recipients of save america's treasures funds, including the terrytown music hall, do not expect the federal government to shoulder the full burden of their projects. they're required to provide a dollar for dollar match. and every dollar they receive from the government is matched. during these difficult economic times it is our responsibility to assist industries that make substantial contributions to our economy to accelerate growth nationally. terrytown music hall does generate more than $1 million in economic activity in my district. in fact, the arts industry throughout the united states generates more than $134 billion in economic activity annually and creates four million jobs across the country. in addition to their economic benefit, entities supported by save american treasures preserves the historic places and items that tell america's story for the next generation. they educate the public about our rich heritage, foster
i do believe that it's our responsibility as elected officials to fight for what is best in our district in accordance with the rules guiding federal programs. recipients of save america's treasures funds, including the terrytown music hall, do not expect the federal government to shoulder the full burden of their projects. they're required to provide a dollar for dollar match. and every dollar they receive from the government is matched. during these difficult economic times it is our...
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Jun 30, 2009
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join aziz saturday evening for -- join us each saturday evening for "america and the courts." next, remarks from supreme court justice john roberts followed by a speech by justice ruth bader ginsburg. later, the former bush administration justice department official talks about judge sonia sotomayor's nomination to the supreme court. >> tomorrow, we will talk to john nagl about the withdrawal of troops from iraq. then the president of the center for international policy talks about the situation in honduras and colombian president uribe's visit to the u.s.. later, dalia lithwick. each morning at 7:00 a.m. eastern with the day's news. a look at iran's presidential election and what is ahead in tehran. >> next, a conversation with u.s. supreme court justice john roberts on some of the court's decisions. he is joined by judge harvey wilkinson. serving on the fourth circuit court of appeals. it is over 30 minutes. >> could we have you take your seats, please? >> good morning. we have a very extra special program this morning. and it will focus entirely on the supreme court. chief
join aziz saturday evening for -- join us each saturday evening for "america and the courts." next, remarks from supreme court justice john roberts followed by a speech by justice ruth bader ginsburg. later, the former bush administration justice department official talks about judge sonia sotomayor's nomination to the supreme court. >> tomorrow, we will talk to john nagl about the withdrawal of troops from iraq. then the president of the center for international policy talks...
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Jun 15, 2009
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the official report on the 2003 northeastern blackout concluded that, quote, as evidenced by the absence of major transmission projects undertaken in north america over the past 15 years, utilities have found ways to increase the utilization of their existing facilities to meet increasing demands without adding significant high-voltage equipment, end quote. clearly, there is a significant need for an increase in transmission capacity. this need is amplified as we consider adding more and more renewable energy to the grid. while i'm fully supportive of adding more capacity, i believe we do need to keep in mind the legitimate desires of localities to preserve green spaces and historic sites. my district includes some of the most pristine, historic landscapes in the mid atlantic. my district also has some of the most productive farmland in the united states. chester koirnths the home of valley forge in the brandywine county where i come from is one of william penn's original three counties. the tradition of preserving land and being good stewards of the earth have been passed down from gene
the official report on the 2003 northeastern blackout concluded that, quote, as evidenced by the absence of major transmission projects undertaken in north america over the past 15 years, utilities have found ways to increase the utilization of their existing facilities to meet increasing demands without adding significant high-voltage equipment, end quote. clearly, there is a significant need for an increase in transmission capacity. this need is amplified as we consider adding more and more...
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Jun 5, 2009
06/09
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random and frequent inspection by public officials is a necessary component of an effective food safety system. this legislation divides' food companies into three categories based on risk and iraq's fda to inspect the facilities every six months to four years. while this is a vast improvement over fda's existing program, we continue to believe that more frequent inspections are needed to take nearly a high risk facility's. risk-based inspection is a concept that expands across the entire spectrum of food products, not just those regulated by fda. the registration fee as proposed is quite modest, and at a thousand dollars per facility it should provide it summer between the 300 and $400 million in new revenue for thune safety activities. let's put this be into context. in the peter pan outbreak, the average cost per victim reporting and no less was $2,650. and this is based on an estimate using the economic research service cost calculator, so when there is an outbreak consumers who are affected may pay over $2,500 or more. these are individuals, so clearly a thousand dollar fee on each
random and frequent inspection by public officials is a necessary component of an effective food safety system. this legislation divides' food companies into three categories based on risk and iraq's fda to inspect the facilities every six months to four years. while this is a vast improvement over fda's existing program, we continue to believe that more frequent inspections are needed to take nearly a high risk facility's. risk-based inspection is a concept that expands across the entire...
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Jun 30, 2009
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30 years ago, america's cable companies created c-span as a publicer ises -- as a public service. no government mandate, no government money. >> thomas dupri a former bush administration justice department official talks about judge sonia sotomajor's nomination to the supreme court. he's argued cases before judge sotomayor he spoke at the federalist society of dallas for about 40 minutes. >> hello and welcome. i'm the president of the federalist society dallas chapter. i'm glad you're able to join me for what is a timely and i hope you'll agree interesting event. the generalties for this event was -- the genesis for this event was the may 1 announce by justice souter, or as i call him, the justice who should have been edith jones, that he was going to resign from the court. he's been serving since 1990, that means the fourth-longest serving justice. lifetime tenure is literal. that drives home how important the members of the court are. and when on may 26, president obama nominated judge sotomayor from the second circuit court of appeals to replace him on the supreme court without
30 years ago, america's cable companies created c-span as a publicer ises -- as a public service. no government mandate, no government money. >> thomas dupri a former bush administration justice department official talks about judge sonia sotomajor's nomination to the supreme court. he's argued cases before judge sotomayor he spoke at the federalist society of dallas for about 40 minutes. >> hello and welcome. i'm the president of the federalist society dallas chapter. i'm glad...
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Jun 24, 2009
06/09
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some people have actually alleged that dean koh supports the imposition of islamic law here in america, which -- i mean it -- it just begs any notion of relevance to what's rational. some have questioned dean koh for allegedly supporting suits against bush administration officials involved in abusive interrogation techniques. well, this is matter for the justice department that he will have no rule in as legal adviser to the state department. others have actually gone so far as to claim, believe it or not, that he is against mother's day. and i'm happy to say that his mother was at the hearing and he pointed to her and had to go so far as to actually deny that, which is rather extraordinary. dean koh deserves a better debate than he has been given thus far, mr. president. and all of us, really are done a disservice when the debate gets diverted to some of the accusations that we've heard in this case. regardless of any policy differences, everyone in the united states senate really ought to be able to agree on dean koh's obvious competence. we've received and outpouring of support for
some people have actually alleged that dean koh supports the imposition of islamic law here in america, which -- i mean it -- it just begs any notion of relevance to what's rational. some have questioned dean koh for allegedly supporting suits against bush administration officials involved in abusive interrogation techniques. well, this is matter for the justice department that he will have no rule in as legal adviser to the state department. others have actually gone so far as to claim,...
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Jun 12, 2009
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it is a very powerful symbol of the sol late of america for those murdered in the holocaust and with the jewish people as well. mr. speaker, at this critical moment we need government officials at all levels to denounce without hesitation or delay every anti-semitic act wherever and whenever it occurs. no exceptions. at this moment not to speak out enables the purveyors of hate. they never take a holiday. they never grow weary. nor should we. just as mr. base runner attacked the holocaust memorial museum and murdered a courageous security officer tasked with its protection, holocaust remembrance intolerance education must dramatically expand and we need to ensure that our respective laws punish those who hate and insight violence against jews. finally, if we are to protect our children from the evil of anti-semitism, we must re-educate ourselves and systematically educate our children. while that starts in our homes, the classroom must be the incubator of tolerence as well. it seems to me that only the most hardened racists can remain unmoved by holocaust education and remembrance. o
it is a very powerful symbol of the sol late of america for those murdered in the holocaust and with the jewish people as well. mr. speaker, at this critical moment we need government officials at all levels to denounce without hesitation or delay every anti-semitic act wherever and whenever it occurs. no exceptions. at this moment not to speak out enables the purveyors of hate. they never take a holiday. they never grow weary. nor should we. just as mr. base runner attacked the holocaust...