glass stealing was a law that separated investment banks and commercial banks, the vanilla, you have depository accounts and investment banks are higher risk, doing deals and things like that. the two had to be kept secret under glass segal. that was revealed in 2000. i am championing a public option for banking. i find this argument novel. public option for banking or try to do something intrinsically risky and dangerous. for something short and protected. two questions. reihan. first of all, if we lived in the world of your public option, would you not rescue the scary dangerous casino banks? would you let them go under? absolutely. in the european central bank, you have a situation where banks are being able to use bank loans as collateral. i am not defending the system. i am not saying that you sr. i am just asking you a
capital owned us and that that the ceo was running for senate in massachusetts. i mean, to me that was an opportunity. when the story broke that mitt romney was running for senate and then had this plant, basically putting everybody out of work at that point, then the kennedy campaign called and said, can we put some folks in an ad? we had nothing to lose. we were on the street, was trying to get a contract. we d do it again if we had to, i m sure, all the workers i stay in touch with many of them through facebook and they told me, keep fighting. i know that at that point in time, when we we decided to go to massachusetts and follow him around wherever he went. all we wanted him to do was make a phone call, tell them to bargain in good faith. if they needed something, wage reduction, then show us. they wouldn t open a book. they wouldn t tell us anything. randy, the ads that we played from the 1994 senate race, there s a new iteration of that. this is an ad from moveon suggesting
differently. what obama did is well, first, you start with george w. bush bailing out banks in the hoover way. strict cronyism, you know. like they were they were very serious about this crony all those goldman sachs guys bailing one another out, this kind of thing, handing out money to executives, all those bonuses, all that sort of thing. all of that had happened in the hoover days. but obama did something very different than roosevelt. obama accepted that, brought in timothy geithner to run his bailout program. roosevelt, by contrast, you know, completely rejected the hoover approach. you know, the open-handed bailout. in fact, he attacked hoover for it on the campaign trail. one of the ways in which he that s how he won. yes, right. but here s the thing. in our time, who s out there railing his bailouts? who screaming in the park? we all know the answer to that. it s not it s not liberals like you and me. i mean, i wish i were, you know. i wish i were. isn t occ
absolutely. but republicans are better at pretending. i have the funniest yes, please. but they have this reverence for experts and expertise that, a, i think sells really poorly in peoria. b, walks right into the conservative credit teak of liberal elite. they re forever talking about people like you and me as the liberal elite. what do they mean by that? it s all you read books. and, hell, i write books. you write them, that s worse. you are part of the liberal elite. you had something to say in your last block. thanks very much. the basic thing i want to throw out there is that when you think about efficiency, we use this term efficiency, folks in private equity and it means a lot of different things. for example, you can tall about allocatetive efficiency, where are we applying our capital, which games are we choosing to play. operational ee quishtcy. you ve chosen a game, how well are you playing that game. and then there s adaptive efficiency.
this is to the heart and soul of who we are as a party. deepak, you want to say something? i love this is south carolina, a return to the 19th century and nullfy kags. we don t like the rights that workers have so we will try to prevent the agency from enforcing those rights. that s what this is about. it is about destroying the rights of workers to choose to join a union which is critical. let s talk more about that, mitt romney in our running ads down there. we will discuss it right after this. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it s just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider car