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Intrensic value column. He has written several books including origins of the crash, the end of wall street and tonights topic of discussion Americas Bank he let me know there is a great review of it coming out in the Washington Post tomorrow so we can read about that tomorrow. He has three children and lives with his wife in newton, massachusetts. Please join me in welcoming roger lowenstein. [applause] debra, thanks very much. A wonderful introduction. I am glad i dont have to talk about dinosaurs. I dont know much about that. What im going to do is mostly talk to you and read you passages as well that i mope High Pressure c hope conveys the drama of the story. This was my first history story. It was the most exciting project i have been in. The people i wrote about reminded me of people on the scene and the book is ful ....
The 17th and 1th century chinas economy was perhaps the largest in the world. So in a way, for them theyre going back to what they may have considered a normal situation 200 or 300 years ago, whereas i think we sometimes still have a certain amount of difficulty, both intellectually and motionally adjusting to the fact that china is almost a peer of ours. Its going to be a long time if ever before china can match our economy or many others in terms of per capita income. The other rising power i say rising, but, of course, it was an important power before, but i cite russia. Because with the collapse of the soviet union that we talked about earlier russia went through a period in the 1990s where it was it felt very weaken weakened. It felt like we treated, not only us, but the west in general treated russia as a defeated power. They very often use that terminology when talking to us. And there was a point in the 1990s when the russian economy, its gdp added up to something along the lev ....
And misdirection and deception to avoid the sort of regulation and oversight that would have done much to avert the financial crisis of a few years ago. And it would keep the same thing from happening again in the future. So, on my left, though it is hard to be to my left too much [laughter] as someone of you who have read my columns may know is noami presence and her book came out tuesday. She is a former wall street executive who was written for many publications in the united states. And her book examines the relationships between banks and bankers on one hand and on National Government and going back to the sevecenturies and bringing it to present day. On my right is the coauthor and she talks about what is wrong with banking and what to do about it. And that is georgia parker, professor at stanfords graduate schools of business. And he is one of the most analyst of the ....
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 da ....