work force, eliminate mortgage deductions, eliminate earmarks, reduce social security benefits. those are some of the specific reductions that erskine bowles and alan simpson as chairs of the u.s. that commission have made. here s how the newspapers this morning are playing this issue. here is the wall street journal. and usa today, uphill battle in plans to cut the deficit. the new york times and financial times here is a little bit from the financial times article. the release of the plan came afr a closed meeting and is from the financial times this morning. we want to get your reaction to this plan. there are a lot of numbers we will we will be throwing out at you. if you would like to respond to a specific proposal, that is what we want to hear. we want to hear specifics from you. is it raising some taxes, cutting some spending? what kind of mixed do you see in this? that is what we will be talking about. you see the numbers/political affiliation. we
Transcripts For CSPAN U 20101111 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
that could ruin them. lastly, we need to have an early warning system, to be able to identify much earlier than we did the problems that are looming. i mention, you could have a problem today in greece that poses risk in europe and here. we need to have a systemic radar council to watch early on and avoid the kind of huge problems that can emerge. we ll have our economic crises, but they shouldn t ma tat sooiz into what we see today. there have been many critics, not only of wall street but also of the congress. bethany mcclain wrote that congress was warned and sad idly by. congress refused to regulate derivatives despite a.m. many evidence. they faileded to update the fraying regulatory system. how can you assure the american people that you will get it right this time?
that was the trigger that caused the financial meltdown and lawmakers go nowhere but did get their shots in. june 22 is the date of this e-mail, that timberwolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that. but the price would have reflected levels that they wanted to invest. but they don t know you didn t tell them you thought it was a [ bleep ] deal? no. who did? your people, internally, you knew it was a [ bleep ] deal and that s what your e-mail shows. you may know him better as the fabulous fab the name he gave himself. the s.e.c. cited in the fraud charge against goldman sachs. how did it make you feel when they were released publicly? as i will dr. coburn, i regret the e-mails. they reflect very bad on the firm and on myself. and you know, i think with i wish i hadn t sent those. christine romans watched the whole thing unfold yesterday. sh