Spinning off like particles, but having an unfortunately galvanizing force for economic and political and social instability in many more parts of the world. Thank you. [applause] thank you very much, professor shelley. We now from the carnegie endowment, they have a central subject of the book is the role of corruption, how corruption is an enabler, facilitator, and you cannot really understand transnational crime without paying attention to the broader issue of corruption. You have been studying corruption in detail in india and elsewhere. What are your reactions to some of those points that professor shelley raises . Sure. Thanks, everyone, for coming. I first want to thank moises for asking me to comment on this wonderful book, you know . The book is about terrorism, organized crime of which i know nothing about, and only under generous definition do i know anything about corruption, so thank you for including me. I want to make a couple of points on the question that you raised ab
Here are the top stories were watching ahead of the opening bell. Informatics is now the biggest leveraged buyout of the year. From europe and the canadian pension plan Plan Investment board are buying the company for 5. 3 billion dollars. This has been a target of activist management elliott managed activist target for elliott management. Drillers idled oil rigs for the 17th straightway 17th street we. Rand paul running for president 2016. He officially kicked off the campaign in louisville. Another story we have been watching this afternoon, the lights are coming back in defeat. They briefly lost power earlier today. Going to managing news editor in d. C. What happened yet so who is still without power. All of the main government holding, the Justice Department and white house who all locked power intermittently them to be back. The little hope our Company Local Power Company telling us there was a big hit lotion and that since programs riffling through the whole. Got a little bit ne
Welcome to squawk on the street live from the New York Stock Exchange, im carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. Good morning to you dennis, thanks for coming in. Futures today, a lot to deal with as you probably know. The fiscal cliff headline watch continues. You just heard john kanas say the market not too concerned. Futures up 21 points. Decent data out of europe, we will talk about in a minute what a day for the asian markets again. Also coming up. Our road map begins at Andrews Air Force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt . Does the market fade if theres no news tomorrow night . The nikkei continues its 21month run. How much is the boj willing to put up with . Looking a at potential strike in the nations port on the east and southern coast, the first since 77 that could cost retailers and impor
Restrictions. So again as a situation where the money leaves the contributors hand, loses control over it the money goes to a single party. Indeed i could make this even worse. I can say lets say the speaker of the house where the majority leader of the house solicit this money from particular people. So solicit somebody to ante up his threepoint 6 million. That meant Justice Kennedy said in mcconnell equate both to the recipient of the money and the one who solicits the payment. But the speaker, majority leader can solicit 3. 6 million while the Party Members and you tell me theres no special influence that goes along with that . Feedback we know from the city and are not quick prococorruption. That is not the sort of corruption that would sustain this limit, especially in light of the severe restrictions on speech and association that it imposes as the Political Parties compete against each other in as the candidates have to compete. In buckley, the court sustained aggregate limit. W
Necessary for the function because it creates incentives to work hard and take risks. Left entirely to his own, the market system will produce more inequality in this economically necessary. Here in our country, we have much more inequality than is necessary for efficiency. I believe this is a moral problem from the standpoint of social equity. But excessive inequality not only undermines social and political cohesion, it is also recently been shown to have negative effects on growth and stability as well. Recent research at the imf has shown that excessive inequality slows growth, costa pricetoearnings gemelli to weaker demand and lower section. Reducing inequality is increasingly understood to contribute to Economic Growth. Inequality is also a political problem. We now have an increasing degree of resistance on the part of Many Americans to new trade agreements because they see themselves as the dems of globalization resident as participants benefit. I believe our International Econ