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tv   American Politics  CSPAN  February 15, 2010 12:30am-2:00am EST

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very flat? >> if we took the advice of the honorable member opposite, there would be massive cuts in public expenditure. he is the one who says that there should be even more cuts than are being proposed by the leader of the opposition. we would lose jobs and businesses, and our economy would go deep into recession again. that is not a policy that the people of this country want. the conservatives have dozens of policies on this, and his is the most extreme, but we will follow none of their advice. >> chris mullin. >> would my right honorable friend confirm that it remains his intention, in the event that this government is re- elected, to restore the link between old age pensions and earnings, which was abandoned in the early 1980's? >> it was part of the turner report's recommendations to reform the pension system of our country. that was originally accepted on
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an all-party basis by all parties in this house, and we will wish to go ahead with our proposals. >> andrew robathan. >> in column 292 last wednesday, the prime minister said that he had no knowledge of a 50,000-pound slush fund for his leadership campaign, and that that was why it was not registered in the register of members' financial interests. he has had a week to reflect. has anything jogged his memory? would he like to correct the record? >> all donations to the labour party are reported by the labour party, not by me. >> gisela stuart. >> further to the question asked by mr. carswell, and ahead of the european council, could the prime minister confirm that any negotiations involving a bail-out for the greek economy will be completely confined to eurozone countries, and have no impact on the uk? >> i have already said that there is international support available for countries, as set up by the g-20 summit in london
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in april. that support can be drawn on at an international level. ñiif the euro area wishes to moe ahead with a proposal, that is for the euro area. >> annette brooke. >> recent research has shown that more than 70% of blind and partially sighted people are unable to access vital personal health information. would he agree to meet me and a delegation from the royal national institute of blind people, so that we can discuss provisions that could address that shameful inadequacy? çó>> gp's are already required under relevant legislation to make reasonable adjustments to the written information for patients with a visual impairment. the equality bill also contains legislation that will avoid discrimination against those people with lesser sight, and anybody with a visual impairment should also be aware that the general medical council
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has issued guidance thate/+ doctors must make sure that arrangements are made to meet patients' language and communication needs. we will do everything in our power to improve the services to those with visual impairments, and i would be very happy to meet any delegation that she brings to me. >> alan simpson. >> does the prime minister accept that the welcome international support for eurozone countries facing economic difficulties is undermined by the $8 billion speculative transactions that are currently taking place against the value of the euro? does that not reinforce his case for the urgent introduction of a tobin tax, which could bring to the international table 400 billion pounds per year? that would be as relevant to the developing needs of the poor countries in the south as it would be to avoiding austerity measures in the north.
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>> what we want is international agreement to restructure our banking system in the way that is necessary. it cannot be done by one country on its own. it must be done by countries working together. we have put proposals to the g- 20 whereby we could coordinate activity in terms of capital requirements for banks, liquidity ratios, and the rewards that they are prepared to pay, but it is also true that the relationship between banks and society needs to change. i have proposed, with other people, that a levy be raised from banks. there is new interest in that around the world, and i believe that over the next period we will reach agreement on a global financial levy. i am sorry that many people opposed it when it was first announced, because iñi believe that we will be able to go ahead with it in the not tooñi distant future. >> order. is in recess.
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prime minister's questions will return on wednesday, february 24, live on c-span2 at 7:00 a.m. eastern. watch it and other british programming on our ñiñr/website, c-ñiñiñiñrñrñispa. ñri]q>> with the british house f commons now in recess, prime minister's questions will not be seen live this week. it will return next wednesday, february 24, at 7:00 a.m. eastern, and you can see it on c-span2. >> coming up next, a forum on the global industry outlook for 2010. after that, a look at the latest on the situation in haiti. then we will hear from pennsylvania governor ed rendell and governor jerry herbert of utah as they deliver their state of the state messages.
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>> "book tv" weekend continues with craig shirley on ronald reagan. this coming week, book tv is like in prime-time, starting tuesday night with contemporary arthur's taking your phone calls, emailed, and tweets. for the entire schedule, go to >> see the entire collection on- line at c. spence website. -- c-span's website. >> a look at 2010 projections for the initial services, website, and media industries.
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they discuss what is ahead as the world discovered -- recovers from the 2008-2009. this is just under an hour. >> good afternoon. i am the chief operating officer of the world economic forum usa. it is a real pleasure for me to be here with all be this afternoon, together with this distinguished panel. the panel on my left represents the people of alert government meetings, the private meetings that take place within the world economic forum industry sector which later feed into the annual meeting and working groups, and ongoing efforts for our foundation to ensure that we collectivelyñr are addressing my of the issues that concern us
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most. this is the second year that we are holding the spirit is called a global industry outlook. the purpose is to fold. the first is to take those meetings and note the additional step of sharing the insights, conclusions, and real opportunities that have come from them to the broader of art -- broader audience. also to start the dialogue between industries and between different parts of society so that we can collectively take those steps to improve the state of the world. we have five industries here and the five-year people from each of those industries. i thought i would introduce them one by one and ask each of them to spend three to five minutes highlighting some of the conclusions, some of the ideas and insights and opportunities that came from those discussions as well as what we can do going forward. last year when we had this session, there was a lot of talk
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of gloom and doom. people were talking about whether we are heading off a cliff. i am happy to note that this year, there's a lot more productivity and intent and all these conversations being proactive going forward. last year we are talking about whether it was the end of the world. this year we have all agreed it is not the end of the world, so we will get together and talk about what we should do about that. first is joseph ackerman. we would welcome your thoughts. >> we had a very interesting governor's meeting and recovered first the economic outlook, second, the regulatory framework, the sustainability issues within the financial sector, and then we had the second part about risk management. we compared risk-management lessons from other industries,
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aviation, food industry, and what we could learn in the financial sector. let me just say a few words about what some of our discussions were. first of all, especially in the political discussion, seldom have so few done damage to so many, and in the sense that if you boil it down to the nitty gritty, only a few banks have actually failed the test in this crisis. the bulk of banks have managed the crisis is astonishing well and increase their profitability. in that sense, if we talk about lessons from the crisis, we should really single out those who have made major mistakes.
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secondly, we also felt that a more differentiated analysis about the causes of the crisis showed that this is not only the bankers who made mistakes, but they are part of the blame. it is a pretty well balanced situation between political failures between market inefficiencies and banks mistakes. that is why we think we should now stop the blame game and start looking forward. at the end, we need a strong financial sector to cover the real issues which are ahead of us, namely unemployment. spain has an unemployment number among young people of 42%. poverty, global imbalances, and many other things. if you do not have a strong
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financial sector to support this sort of recovery, and to contribute to the prosperity and growth in the real economy on a global scale, it you are making a huge mistake. we are saying that this forward- looking statement, if we all pull our forces together and say what should be done in order to make the system more stable and more resilient without jeopardize in the efficiency of the market's and the financing of the real economy. there are few things we would like to highlight. first of all, we very much support the reforms being taken on the regulatory side in terms of more capital, better liquidity management, also in terms of improving the market infrastructure, having a system in place which allows us to exit failed banks and not have them
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jeopardize the stability of the system as a whole. at the same time, we are saying we need consistent rules, global rules, and how far we should go in the reforms should be based on a micro and macro impact study that shows what the impact on the real economy will be and what the impact on efficient and liquid markets should be. we don't think is very wise to come up with new ideas from wherever they are, new taxes, new proposals, because that is adding to the uncertainty and slows down the process of making the financial sector more stable. having said that, we also know that the regulators have done a tremendous job in advancing regulatory work. it is also fair to say that banks in the last two years
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actually started at the beginning of the crisis have done a lot in improving the capital management and liquidity management and risk management, and also improving the market infrastructure. all in all, a lot has been done. on the psychological and political side, we agree that we should become proactive in helping put in place insurance funds on a national or european level or on a larger level to do something on the compensation issue. this is a very emotional issue. we have changed the structure in compliance with the g-20 recommendations. the quantum of compensation is still open, and we will work on that and see what counterproposal we can make.
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>> we have the chair of our professional services group. you could share some of the box from that group's discussion. >> just remind you is compliant -- comprises lawyers, and we are looking cautiously optimistic in 2010 and beyond. there's a clear need to continue to help if you help plants throughout the crisis, and we see good times going forward. our responsibility is to help address the wider issue of more responsible capitalism. we see a backlash of
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globalization against this crisis. we are concerned it will ultimately hurt the global economy and the well-being of societies around the world. we were focusing on four elements of our action program. one was to ensure that but management is also seen as value advancement. if we take a long-term view in terms of creating value, will also create jobs and ensure that we deliver to the needs of our customers and to society. we need to reinforce the idea that value management -- it means to reinforce our code of conduct for clients, employees,
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stakeholders and society at large. we feel it is important to speak up with students, with politicians, with customers and companies around the world, to reinforce the notion that the capitalist system has served us well. globalization is serving as well, and it is important that it reinforces the message and that we speak up. thirdly, in the engagement, we talk about regulation. to ensure that when we work on new regulations that we are not going from one extreme to another, that we find a regulatory framework that is
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really beneficial in addressing a risk we have seen, but not making -- not leading to a stifling of business that ultimately will mean lower growth or no growth, and therefore also continues high unemployment are increasing unemployment. i think it is important to make sure we are not going from one extreme to another, but finding the right mechanism. in our interaction with governments, with parliament's, helping them to find the right frame work. lastly, we are working on what we call a risk cockpit. different firms' consulting lawyers and so forth. we are dealing with risks in a
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broadway. we will help clients see the whole range of risk, different classes, and helping them to ensure that they look at all those elements. risk in a specific sector are well covered and complete overlooking risk in other parts. it is about assets. it is about strategic risk and so forth. we will develop a plan to help plants and companies around the world to have greater transparency of what they need to deal with. thank you very much. >> to give you a feel for our audience, the real estate group within the forum is composed
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mostly of people in the development of real estate. the corporations -- that is the community. to give you some background to our discussions, this is an industry or an asset class which suffered litigiousness designs in activity and price levels between the beginning of 2008 and the middle of 2009. prices fell between 40% and 50% worldwide and activity levels fell by 50%. is a very cyclical industry. the position we found ourselves in a last time this year, we were right in the middle of
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that ball. our sense is that the falling asset prices and activity levels is stabilizing, and there is a gradual forming of a bottom and recovery of pricing. starting in the east and driven by chinese liquidity, and is moving westward to europe. last in line is the u.s. and north american continent in general. that is the context in which we deal, and the stock market has anticipated recovery in the broader demand. with that background looking forward, thinking about things that were preoccupying us, several of these factors were external to our industry. the trajectory of worldwide
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growth is a factor of the final metal demand for real estate. -- fundamental demand. the financial sector, we rely heavily on the financial sector to structure the deals that provide liquidity and velocity of transactions in the real estate area and support values of holdings of real estate. our sense is that until the regulators have sorted out how the general financial industry is regulated, our sense is that it is not just the banking sector. until that is sorted out, we will continue to find bankers who are reluctant to lend to many sectors, but particularly in real estate. those same banks have a portfolio of nonperforming loans, some much worse than others. so far, because of the government support for the banking system worldwide has
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been extremely robust. the banking system had to do what it has done in previous cycles, which is pushed those underlying assets into the market. that struggle will become more of a stream. central bank policy toward availability of credit and interest rates, it is part of this external package that impacts our industry. the final point is about sustainability. real estate in general is responsible for 40% of the world carbon footprint. the real estate sector provides twice the current output of airplanes and automobiles but together. whether we like vermont, this is a big issue for the real estate sector. gradually the users of real
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estate corporations and owners of real estate our understanding that there is value to be gained or destroyed by having buildings that are efficient or inefficient in a sustainability cents. that is beginning to come a major agenda item for the sector as a whole. what is also clearly coming down the road towards us is government regulations. governments at all levels of continents are taking interest in regulating not only construction standards but the standards of energy performance in existing real estate stop. that summarizes a broad sweep of our discussions. >> barrett joins us from eden park cattleman's andcapital man. >> our group had a discussion
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that has a backdrop and understanding that we were operating in a world where the relationship between our industry and various stakeholders was changing and the perception was changing very rapidly. bunning jamarcus themselves are coming into question as to whether they are the best allocator of resources. -- financial markets themselves are coming into question. what our role is and how we participate throughout the last several years. there it was a feeling that private equity firms contribute significantly to growth capital within corporations. there is a feeling that in addition to hedge funds not
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being central to the financial crisis, it was also the view that largely that had fulfilled their position to investors as far as delivering absolute returns. the role and functioning within the capital markets themselves and how important that is to the allocation of resources. there was a discussion on how to articulate that better and what outreach which could have with various stakeholders. we discussed the political environment surrounding all this, and the anxiety with the push to have solutions to make sure that we avoid whatever unintended consequences there might be. there was also discussion about the nature of our relationships
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with our limited partners and investors. there was an increasing push toward alignment of interests, and that hedge funds have been pushing in order to formalize that to a greater extent. leverage is less available, and is pushing more towards less leveraged deals. it means less purchasing power for private equity firm is going forward. understanding the relationship between credit providers and the banks has changed. banks that were fearful of issues from hedge funds, and then it became hedge funds fearful of credit issues with the banks.
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>> are final palest represents the media, in formation, and entertainment sector. >> in our group, a year ago the feeling was that we work at the end of the world and on the present is. the mood is much better this year with a belief that the economy will treat media better this year and rebound. advertising will rebound and both old media and new media will benefit from that and have a better year this year. our group was comprised of more in new media than old media. that is a tribute to what is going on in media today. that also led to the biggest topic within our group, which was how to define new economic models within media and how to find economic models that will allow all the companies to survive and allow new media
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companies to thrive. i would say there is still no answer to that question. a lot of discussion around monetizing new media, and how do old media companies change their models under the pressure of new media companies, and no clear answers on any of that. we spent a lot of time talking about personal and corporate reputation in this era of social networks and into the communication and what the role of media is with regard to that , and irresponsibility on the media side and how individuals and corporations respond to those attacks, to that new world order. we had a fascinating discussion with the president of iceland, who went through a tremendous
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experience last year, a near- death experience with a financial meltdown. he was fascinating on the fact that the media had declared his country financially bankrupt, and it had spread within a day and done tremendous damage to both his country and to himself. the question is, what responsibility did the media have, and how did he personally respond? in the end, one of his answers was that he decided he just was not going to respond. whether that was the right way to deal with these issues. that was something we all face, both personally and on a corporate level. another area we spent a lot of time on was privacy. lawful exportation of data that we all get in this era, and whether or not privacy existed anymore, or would or could exist from the media and on a
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personal level, and what responsibility there was. there is clearly no answer on this question. what the role of all of us is in deciding how much to reveal and how much to exploit is something we are all grappling with, both old media and new media. . . . that really is an issue of economics and jobs and something we think everybody has a vested interest in and then we'll have to play a role in, and the governments have to play a role
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in, and something that has garnered more attention than it has but still not enough. >> thank you. let me begin by weaving together two seems that have come up in almost all of your comments. -- two themes that have, but almost all of your comments. almost all of your comments. several of have talked about communication and that companies need to be more proactive. we just heard with iceland how the media can have the effect of broadcasting a message so quickly. can any of you discuss in more detail what your industry can do to be more proactive? how to communicate, given that the cycle has become so assured that questions have become more closely linked to questions about communication. >> it is not an issue of having one key message, but it is
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talking through different channels, through different audiences, and to make your voice heard. it is not enough to leave the forums to one group only but do have a magnitude of voices and to make sure you bring across key voices. we talk about somebody has to pay a price, and it is very difficult to make people understand we are all linked together, and going from one extreme to the other, every month but gave -- everybody will be hurt. rather than saying, let's withdrawn, i think more communication is better than less. >> can you talk about what has been affective? there's been talk that the
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effective communication has been helpful. a lot of people have talked about what they want to highlight. would any of you like to address that? >> first, i think we discussed that, but we are in a competitive environment with different interests. what is important is good we are reaching out to politicians to regulate. very often it may provoke reaction, which maybe not quite the right one, because if you dig phone message, you will come to different conclusions -- if you take the wrong message
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you will come to different conclusions. with a lot of people we have communicated with the media in a not very concerted way, and if you stick together, it you listen to the other arguments, and then you find better ways. you may have to do create from the g-20çó ua b-20, business 20. it is not just to talk about your own interest. it is very important to know if they are negative impact on others. real estate is also question of funding. we cannot do it just me via the lending market.
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the same is true with the other statements. i think we have to join forces more often, and the interdisciplinary course -- approach is probably right. >> that is nicely put. if politics is the driver of bad regulation, and this led to the securitization of the hedge fund market, it is a potential issue that we as real estate professionals are going to find we are not served by financial industry, which allows huge burdens -- huge booms followed by a huge bust. that is our concern.
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unfortunately, emotions are on this side of the banking industry in a rather in discriminatory way. it feels like there has to be something to counteract that. >> if i could ask, in light of this stress on communication, you mentioned that the new media voices were getting larger. how does that change the equation? any thoughts house some of these other industries should be mindful -- any thoughts about how some of these other industries should be mindful? >> i do not want to give any thoughts people should take to the bank, but i would say a thing we have to be conscious about theñr fact we are in an
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entirely new world. it used to be we would wait for the news ever to come out tomorrow, and then we would wait for the news programs tonight. waiting five minutes today is not even possible. we live in a society where it is measured in seconds, and i think this is an opportunity for everybody here and something we cannot ignore. it can be problematic, and it can be used to great effect, so i think old ways of dealing with media are not sufficient anymore, but i think embracing the new method set can also help are important for each of us, and i do not think you can ignore it. you ignore it at your own peril. >> i would like to turn to the
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audience and give an opportunity for questions. we are going to pass around the microphone. please give your name and the name of your organization. if you have anyone in particular you would like to direct a question to, please say so, and we will take as many as began over the next 20 minutes or so. if you can raise your hand if you would like to ask a question, i will look to the audience. there is one right over here. >> i am the ceo of real estate firm. you talked about reactivating the securitization market. right now the balance sheets of many banks are clogged up with assets, and the continued the leveraging makes it hard to put more loans out to real estate. at the height of the market, 75%
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of the loans were securitization, so in order to have a healthy market, we are going to need as securitization market to get things going. what do you think it is going to look like? what do you think is the likelihood of the securitization market getting activated? >> first, i think it is a crucial development. if people assume we can move from a market-based system to a bank-based system, they are absolutely mistaken. that is not going to happen. we will not agreeable to finance. the securitization has started, but we will need more transparent products. we will need more information on the products in the course of the transaction, and one of the
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big questions is we need investors, and investors have one response. the price has to be right, and sometimes for more complex products, investors feel a price level is not where they would like to see it, and i think we will have to find this before we move. in addition, we have to do everything on the regulatory side, and banks are willing to play that role and invest in capital requirements. it will be part of the infrastructure, which we're doing right now under the leadership of the committee, but that is a very important element, and we should seize what the outcome will be in terms of region we should see what the outcome will be in terms of securitization, but it
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is essential the reactivate securitization markets. >> i want to find out from an investor perspective what some of your decisions are. >> it is an essential part of bank lending. there are a number of issues. one has to do with a lot more information. there are not such many, and given the issues, there is a higher discount rate associated with the, but i think it is more likely in the short term the
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price it -- the types we have sold to the market will be much more secure. over time as people get comfortable, they will be comfortable with underlying research as they rebuild their credibility. you will be able to get lower into the stack, but i do think the pricing is going to have to be right, and the price we saw during the boom was not just appetite from investors old so the high leverage available against those securitization us a themselves as well as regulatory framework, so with those having changed, even with
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it having come back, i imagine it will be wider spread. >> there is a question over here on the back. i am making this comment as the chairman of the nonprofit setting data standards. on the restarting of securitization, the pricing issue you mentioned is the heart of it, and at this very minute in washington, there is an effort to bring substantially more transparency into these securitized the technology is there. it works. the first 400 american companies are using it. the next 1000 start this june. all companies are required to use it next june. the conversation is going on this morning at the right
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agencies that hold a lot of the securities, is all about how to bring the kind of transparency that the securities and exchange act of 1934 brought and that whole composite that brought such transparency to equities. equities did not fail in this last cycle. it was the unregulated or opaque securities that were hard to price, so with that background, i would like to ask mr. ackerman whether or not the banks in europe are doing anything about bringing transparency as a logical way of giving healthier markets, rather than more micromanagement. >> well, i think with what you mentioned, one element, the underlying assets, i mean, people have now burned their fingers, and they will watch the quality of the underlying assets much more carefully, but, yes, here they are working on standardization. i think you have seen much more
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information, and people are encouraged to rely less on ratings, but we need the right price level and the right quality of underlying assets, and we need the simplicity of products in order to regain trust into the securitization market, and it is, at the end, all the question of trust. is all a question of trust. >> the question here in the front row. >> i am from the global leader'' group. just to take this discussion, i think the idea we have been discussing is regulation. in the past we have regulated, and there was some over innovation. that will be an issue the new regulation as well.
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some people may find as well, and how much are we going to see it internal risk-management practices coming up in the organization, things will be checks and balances, and it will allow us to make those decisions without big brother, and that is something they are looking at. the concern is how much we will regulate, and is that going to stifle competition? it will become much more internal. of risk management is said to be enforced, but i think the failure of the last several years has not been lack of risk systems. in many institutions, they were
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well-defined, very sophisticated. they were very often ignored. they were made despite the system's saying this is too much of a risk, and joe talked about understanding the underlying assets, and i think many of the institutions, they did not understand what they were dealing with, so i think a key area is to make sure not just that the systems are there but they are being applied and adhered to. no regulation will prevent people from doing stupid things, but it is important to insure within banks and companies people do use their systems and make the right decisions based on what the systems in just a. it ultimately is the risk- taking of a type of the sides,
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and people understand what they are dealing with. >> i was going to ride that risk-management systems are incredibly important, and they are being improved, but ultimately, it is judgment, and you need to have people in place exercising good judgment. most of the people did not think they were taking a lot of risk. it is important that the regulations were safe and had low capital charges associated with them. all three of the system, people view them as low risk. that is why we take positions that ultimately were in difficulty. it is important that we do not have the ball -- but if we do not have people exercising good judgment, you can have all the systems you want, but it does not going to solve the problem. >> the importance of aaa securities has remained pretty good. they were chervil a for a reason.
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people who bought the aaa were not seeking so much risk as those buying the lesser traded securities. those taking a risk of lower quality securities? >> i would say there is no doubt that aaa has performed better than lower rated instruments, but it did not perform according to what it was meant to, so folks knew they were taking equity risks when they decided to what -- to do what they did in proportion to that. they would own sense of billions of dollars without thinking they needed a cushion. it was throughout the system, but it was of the most highly rated things that failed, and there are lots of examples of aaa securities that did poorly.
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>> [inaudible] >> i've seen enough to determine what is actually good. >> if you analyze those banks that did badly, it is not that much lack of juratory. it is bad management, lack of discipline, lack of acquisition discipline, and i would even and lack of qualified supervision, and in that sense, risk management has become an important element of an improved banking system, and the bank association has published of best practice recommendation on waste management to our three years ago. we have learned some lessons, and one is what is marketplace, and what is value.
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i do not think 65 percent and are not going to pay back their loans. if the quality is so different from the marketplace -- secondly, what has -- we do see a completely different risc development. for instance, many have recognized subprime is the problem, but almost no one has anticipated this will lead to the same impact on all other asset class moves, and that is something of a complete drying up of liquidity in the market and the demand for not only one product but leveraged loans for commercial real estate -- you name it, and i think that is one
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thing. we have to approach with a much more holistic massive, and revelation will not take place through mismanagement. >> to reserve question right over here in front of me. >> -- there is a question right over here in front of me. >> i have a question on a completely different topic. we talked about changes in communication, and suddenly, there is a change in the amount of information coming people's ways, but a lot of it is coming into companies. we have heard a lot of them coming back in two constituencies. my experience has been the companies are not that good at listening, so the flood of information coming to them. can the media companies help in
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dealing with this flood of information coming into companies? >> i think media companies can certainly play roland that, but i think the big difference is media companies do not control all of that information, and that is where you have to make a decision on what is important and what is valuable. the fact is this is the age of information that is controlled by the individual, so all of our companies are being flooded with feedback information, instant communication, instant feedback on how we are altering, how we are perceived, and i do not think it is just love to media companies to make a determination as to what is important and what is valuable. -- i do not think it is just up to media companies to make a determination as to what is
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important and what is valuable. we bring credibility that each of our brands has been sifting through information and putting out or reporting what we think is correct, what is important, what people need to know. i think that is the value we bring to it, but i think that ignores an entire new world where today everybody is a journalist because they have of blog, and today we write the story and many will ask questions later. it used to be that we would ask questions and then write the story, so we cannot pretend that does not exist, so i think all companies and all industries have to recognize there is credibility that comes from brands that disseminates information, but there is
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feedback an instant feedback in communication that comes from every individual in the world, and you have to make a determination as to what is important and what you're going to deal with. >> let me turn to the floor with another question. if there is anything else you would like to add, let me know. we talked a little bit about information and of powering the consumer. an unknown number of you have talked about change of consumer preference. i know there is some question about new consumers demanding environmental aspects in construction and real estate, and that is impacting how many people are thinking of construction. i wonder if you can comment on some of that discussion plus the fact of 40% is connected with real estate and building. >> the employees of large
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companies have increasingly become aware of issues of the environment and climate change, and they look around them, and every aspect of what they der are seen as potential areas they can contribute to. when it comes to working environments, we're seeing more and more of their employees have been taught by teachers who work very environmentally aware -- who are very environmentally aware employers have started to listen. the process started with the corporate use of real estate, and the owners are starting to listen to what they give from their customers. some companies have taken a lead in reacting to this, and
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deutsche bank is one of them. i suspect that is partly because their customers find it attractive as well. that is why -- were the source of the push has come from. >> we have almost no time left. i thought i would give you 30 seconds to a minute for any comments, and i am afraid i will have to rough up. >> i sometimes -- i will have to wrap up. >> we were close to wrapping -- meltdown last year, but we do see a lot of risk on the horizon, and some parts of the world are increasing, so in that sense, there was confidence we're having the worst behind
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us but still somewhat fragile in terms of the economic environment. >> we need to be careful but we're not focusing on the needs of people in europe, north america, japan, but also really making sure globalization continues because it has raised the standard of living across the world, and i think the economic crisis has exacerbated the discussion, and it has benefited all of us, and i think we need to continue to push the and make sure we continue on that path rather than going back because it will globally hurt us all. >> it feels a lot better this year than last year, and the general sentiment will feel a lot better and 2011. despite the short-term
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challenges we have described in financing and the industry as oval, the senses longer term it oval, the senses longer term it is in tact the fact that sustainability is rising, everybody's agenda, and staying there through the good and bad parts of the crisis and increasing in the institutions of real estate as a long-term investments and asset class, all of those trends are intact. >> i think rather than describing the sense of optimism, i would describe it as kind of a sense of being back in business and doing the normal day-to-day business that you need to do, and this is also about watching, having a very watchful eye on some of the risks out there. >> i would say technology is changing the way we all
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communicate, the way we collect and disseminate information. we're all involved in that. this is both an incredibly exciting and dynamic time for media, and incredibly and power in time for individuals, and the key is to know how is it -- how to deal with that, how to embrace that, what is right, what is wrong, but it has never been more exciting and has never been more empowering to the whole world than it is today. >> while we are on an optimistic note, let me wish you are thanks for being here today, an invitation to join us once again next year, when i hope it will be even more optimistic, and i asked you to think our guests for their insight for comments. thank you very much. [captions copyright national cable satellite corp. 2010] [captioning performed by national captioning institute] >> and now, a discussion on the situation in haiti.
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from today's "washington journal," this is about 45 minutes. some of the photographs are graphic and may be disturbing. host: one month after the earthquake in haiti. the washington correspond ant fortime spent a couple of weeks in haiti. we have been seeing these pictures but what did you see and feel? guest: i think for most, it was probably one of the worst things anybody had ever seen. it was difficult to stay detached and be a start of the story.
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it was really hard. just to see such devastation. >> remind our audience that our phone lines are open. jane will be with us for the next half hour. >> one of the issues is who is in control? you have the government and the u.s. and western country relief efforts. you have the non-government organizations. food for the poor. the american red cross, other agencies trying to help these people, who is running the show.
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>> so, yes, still president and there is still a prime minister. ee sent ayally, the un arm of the government is functioning as the head of the government in the sense that they are coordinating the relief efforts and troops on the ground. they lost nearly 150 people. they are still trying to get their full capacity back. it's every level.
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not over coming the huge amount of relief in aid is difficult. guest: i arived in haiti less than three days after the earth earthquake. friday midday. i was there for nearly two weeks. these photos are taken for the first two weeks after this happenedñi you look at the absolute destruction of the earth earthquake to seing the next round of the dead.]x
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there were people that have internal bleeding, people who had crush syndrom which they found difficult to treat. there was probably less than 10 you nights of dial sister in the country. anyone with gangrene that didn't have broken legs or arms treated.çóçó they were the6d left on the streets for body collection. host: on a good day, haiti was a troubled nation. if you look at long-term efforts, what are we looking at? is the u.s. committed to this? guest: certainlyly --
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the u.s., i didn't think he left the country yet. he's been there the entire time.4hqjeát u.s. has been more necessary enter.jfçó0lxjkxd if you don't, you are going to get hundreds of thousands of hatians that are going to set sail for u.s. shores. it will become more of a mass tragedy. across the u.s. and ngos and other countries. that something needs to be done. a plan has to be made in order to form and rebuild a country and market. you are starting from less than
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zero. there's probably not banks. there's no schools. they are really starting from less than scratch. >> one of the photographs you posted is a van. it says optimism. ifment guest: there where are these huge -- they call them tap taps. they are these enormous vans that are kind of illegal.çó they paint them in thesexd ways. there were tons of the people heading to the border. these are people trying to leave haiti to get out and find a better life some place else.
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even through all that, there is a sense of optimism. you see renee who two days held a day of mourning for haiti. there wawas this pause where everybody said we need to start saying goodbye to our dead. even in that speech, he said haiti cannot be abandonned. we have to move on. people were trying to open shop and get back to the semblance of life. even if your shop ended up being half of a tarp with a continue roof over it. part of the spirit of having so many zsters tough tropical
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storms. the scale is so much more enormous i'm going to have to move on and provide for my family. i'm going to have to keep going in this trooper spirit. >> we'll bring in our viewers and listeners. this is from the twitter comment getting to the earlier point. how did they come up with the number after so many bodies had been dumped into mass graves? that was really striking for me. it was hard to see the mass graves. it just looks like something,
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you couldn't imagine of hell. just these piles of bodies. in other countries like, say, china. they would try to photograph and fingerprint each body. this wasn't happening in haiti. the scope of the disaster made it impossible. with the tsunami, you had this wash of wave come in. there wasn't a huge amount of dead bodies. here, they were everywhere. you needed to get them out of the populations so they weren't spreading disease. that was a really important priority.
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almost every building over four floors were gone. thank you, her reporting available on line we'll share more photographs she took. also want to point out this story from the "new york times" this morning. education also leveled by the earthquake. the country's main nursing school, medical college, the science building has been ripped open, the teacher's college is now tetering on its side. michael joining us from obama. good morning.
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whoever does the character generators seems to take them off the air quickly and take 30 minutes or so before putting them back on. host: it's hard to find the right ambulance so we don't keep repeating them. caller: my question has to do with the long term -- that wonderful tv reporter. my concern is about long term economic rebuilding. i don't know how many c-span
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viewers remember or even know how much -- how many blame france bears in the underlying causes of haiti's poverty. sometime in the 18 20's, france demanded all these tributes back to it getting their rightful freedom. i heard france didn't stop the pames until 1946. these are some of the causes of haiti being involved this way. i'm ashamed of this.
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so much of french furniture was build from hatian wood. host: thank you for your call. guest: commenting on the deforestation of that country. absolutely going back @@@@@@i
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part of its own. they didn't really pay that much attention. accept that france eventually demanded to compensate them for the land lot of. haiti had to boor row money in order to pay france back. they were indebited to us and france in paying for their independence for the decade of generations. that led in many ways to haiti becoming much less developed it is striking when you go. i drove across and you drive through this amazingly lush land. all the way west through the dominican republic. it's green and beautiful and
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you get to the hatian border, it's like a dust goal. the difference is so striking. it's been completely did he forested. part of that is because the island is so undeveloped. it's really the poorest country. out of 9 million people, only 1 million people had power. there really was almost nothing left. you would get these terrible mudslides because there's no trees, nothing, no roots to prevent the sliding of the mud. one of the main things they will focus on is rebuilding the agricultural.
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they were all former slaves and none of them wanted to farm anymore. haiti turned from the land. now they need to rebuild that and say, you need to be able to feed and rebuild ago culltuffer and make the land healthy so people can live on it and not be so focused on urban areas. the u.s. government. we want to share more on the photographs that she saw. welcome to the program. >> yes. thank you for having me. thank you for your insight. our prayers go out to them. i have one question and one comment. my question is all the millions raised through various
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charities and celebrities so forth and so on. that stuff happened by design. bank car tells sucked this dry. host: i want to stay on topic. i want to go back to your first point. how do you find jobs for all of the hatian people? do we clothed forever? guest: that's the real challenge.
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>> it is a mainlyor priority. you need to employ all these people. i met this young boy. a man. a man. he was 27 years old. which is sort of a blue-collar area. color area. one of the worst areas of loss
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of life was this factory. more than 2,000 people were inside. they think several hundred to a thousand people remain under that rubble. i asked him why he was there. he said, my sister is in side. my mother and other brother died. when our house collapsed. i figure they are going to need to hire people. i'm here to get a job. i'm hoping i can find my sister's body but i also need to find work. it is certainlyly a huge priority for those rebuilding the country to get aid flowing and investment >> haiti is a tragic example of what happens without freedom, a free market or free enter prize.
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>> what has been the role of the dominican republic in aiding haiti, if any. and accepting refugees across their immediate border? >> sure. great question. it's been difficult sharing an island. it is very different cultures. they have been amazing in this. the government has been great. they could land a lot of planes and truck through enormous amounts of supply and gas.
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they are totally afraid of their island being overwhelmed. they are going to try to come to santa doningo. you saw several check points where you saw police shaking down hatians. every time, they stopped us and we said we were foreign journalists. it's their way of preventing anybody but the richest of hatians from coming across and living in the dominican republic until now. they didn't a lue the mules
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being hired. it's kind of a tough situation right now. >> more images while in haiti, the first two weeks after the earth earthquake host: good morning. welcome. caller: i'm a first-time caller. >> this might be a really stupid question, but i'm looking at all this horror in haiti. you have this lovely reporter. i know this is a stupid question, i hope you take it seriously. i want to know how much money she spends on getting her hair done every month?
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host: i fail to see the relevant vens, mary. all this horror in haiti, she's got this beautiful hair. how do you justify that? host: you mentioned this earlier. you are in this country, you are witnessing the poverty, pain and suffering. for you or any reporter out there to chronicle what you are seeing, what is going through your mind? caller: it's very tough when you are there. when you come out and go to santa doe ming oh , which is ufuoñrñi untouched.mpi notice see women who are beautifullycñ put together. there's food everywhere and grocery storesxd andxdñi ca)ñrñ
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around and gas and water and thingsçó nobody has in haiti. you have this real -- we gave away every]/>xdxd and i think a lot of our time in the very beginning of it, the first people in the communities that had not seen any aid, had
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not seen any workers, and we spent a lot of time writing things down, here is what we need, and then relayed that information back. they had this massive grave that they made their own sort of ad hoc ones, because they were worried about disease, and they thought they may have made it too close to the water source, and they were talking about needing help to move the grave, and sort of relaying information to search and rescue teams, and we heard rumors of signs of life, so we didn't least provide a function and be able to provide immediate news and sort of information to people when it was really needed, or at least a time when information was scarce and nobody knew what was going on in the country. host: will you be going back? guest: in the spring, as the rainy season approaches. there is a real worry.
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right now, there is still 750,000 people without any tents or any kind of living situation, so there is a real worry that when the rains come, there will be dysentery and cholera. there is really no sewage system. there are not a lot of latrines that have been done yet, so it is a huge problem. they are trying to get as many tents to haiti as they can say that people can at least have sheltered during the reign and to get as many latrines' before the rains come, so they are hoping -- during the reigain. host: thank you. >> tomorrow, author and presidential historian compares the current presidential administration to past presidents and their administrations, and it a criminology professor at
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northeastern university examines the recent declines in violent crime rates nationwide, especially in cities. "washington journal," live at 7:00 a.m. eastern on c-span. coming next on c-span, pennsylvania governor ed rendell and a governor deliver their state of the state messages, and then, a federal hearing on the budget and the debt. that will be followed by "q&a" with the president of citizens united, david bossie. >> is the only collection of american presidential portraits painted by one artist. "american artists," by the renowned painter and sculptor. see the entire collection on- line on c-


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