The supports of various kinds been contracted, and with the creation of large state armies, positionindeed, a re reprivatization. People that study agree this is privatization, and i concur. The independence refers to the decision in the 1990s to pull back from its promise to take care of its own, and, instead, emphasize, in many of its support programs, selfsufficiency, and that came through retooling programs like Family Support into family readiness, for example. Readiness and pulling back then on the amount of support often. It came through a new program called army family team building, which emphasized very much the responsibility of spouses and families to serve the military and know the military, rather than to have a army helping them, and through a variety of other things. I mean, today, i see the echoes of it in the emphasis on resilience, frankly. So, we can talk more about that, because i think we are running out of time, but i think it is a very important seeing in milita
Support is the committees outlook, we will likely reduce the securities purchases in further measured steps at future meetings. Of course, continued progress is by no means certain. Consequently, future be adjustments to the pace of asset purchases will be deliberate and dependent on incoming information. Host so, greg ip of the economist, what does all of that mean to the average american . Guest well, so take the most basic aspect of that. One of the aims of the bondbuying program was to hold down longterm treasury yields. Essentially, when you buy a bond, you push up the price, and that pushes down the Interest Rate on it, and because Mortgage Rates are usually linked closely to 3w07bd yield, the more are bought, the more it held down Interest Rates. Over the last eight months as the market became aware the Federal Reserve pulled back on this program, we saw some rebound in mortgage Interest Rates. What mr. Bernanke hope is the that by gradually continuing the process over the comin
To save money now, it might have seemed like 23491930s in the 1930s we were saving a lot of money on defense. It ended up costing the world a lot more. This is actually a moment where congress by itself cannot do the job. You really need president ial leadership to explain and justify to the country whats at stake. And i have to say theres not really i think franklin roosevelt, that is his finest moment is that he really did work on persuading the American People that they had to bear a burden to make sure the world came out a certain way. And i think thats the responsibility of the current president. I worry that theres a lot of war fatigue, but we are actually going to regret giving into it. Just final, final footnote, actually not so much in this current, i mean, the old today, but there was a similar one that came out in pew a couple months ago. I have a colleague here whos spending some time actually going through the pew data, and there is that headline which is, you know, wed ra
[inaudible conversations] okay, i guess we can start. Thank you all for coming. This is a great crowd and were all very happy to have you here as we talk about the financial crisis and financial history under the title gaming the system finance in america which is really what its all about. Before introduced myself and the panelists i just want to make a couple of quick announcements. First of all we ask you to silence your cell phones and we point out that personal recording of these sessions is prohibited. There will be a book signing for all the members of the so panel and myself right after the session. Im asked to type that if youre buying a book, you buy it upstairs in the lobby, and then the sign will be across the street. We will sign them after you buy them. Anyway, once again, welcome to all of you. We are privileged to have with us today three authors have taken three very different approaches to reporting and analyzing the financial crisis that began in 2008 and the many re
Upper 50s low 60s exactly where they should be for the stuff they. Fremont right now 6263 degrees in fairfield for holding on to upper 50s north of the Golden Gate Bridge looks like redwood city right now 61. As we head into the after and expects i skies mild weather of the cloud cover will retreat close to the coast and into tomorrow and will be slightly warmer conditions. We did step in the subject was moisture. With was hurricane norbert. Full details on what that will do with weekday forecast coming up in 15 minutes to begin with developing storage and Police Searching for suspects involved in a major accident where ac transit bus slammed into a home after colliding with a stolen car. Mike pelton reports from richmond with an update for austi] \ place to live in a with looking for the driver of the alleged stolen car is the older brother of the passenger of the car and police are having custody this morning were the ac transit bus crashes port of behind me and see very clearly the