klein. i don't want to get into so much on the cause, but i'm trying to get an assessment on how serious you think the world financial crisis is. a lot of us, you know, put a lot of blame on monetary policy and federal reserve and the dollar reserve standard and excessive debt in these issues. we're not going to resolve that today, who is to blame, but do you consider the world financial swaying to be a mess or just something that will be taken care of soon and there's not that much to worry about? >> i'm very worried about europe. i think the austerity policies are the wrong policies at the moment, but they have -- they'll make the situation worse, and that could be bad for us. the long-run debt situation in europe is serious, but at the moment i would focus attention on their getting out of the recession. for us, i think we've got to get out of this recession, too, but we've got to get our long-run debt under control. i think we can, but we haven't. >> all right. could you follow-up, dr. k

klein. mr. klein votes aye. miss bordio votes no. mr. rogers votes aye. mr. courtney votes no. mr. franks votes aye. mr. lobesack votes no. mr. sthooster votes aye. miss angus votes no. mr. con0way votes aye. miss pingri votes no. mr. lambborn votes aye. mr. kissle votes aye. mr. witman votes aye. mr. heinrich, votes aye. mr. hunter votes aye. mr. owens votes aye. dr. fleming votes aye. mr. garamendi votes no. mr. kauffman votes aye. mr. critz votes no. mr. rooney. mr. rooney. mr. ryan. mr. ryan votes no. mr. plats, mr. plats. mr. rupersburger. mr. ridgel votes aye. mr. johnson. mr. johnson. mr. gibson. mr. gibson votes aye. miss sutton. miss sutton votes no. mrs. heartsler. mrs. heartsler. miss hanipusa votes no. dr. heck votes aye. miss hokele votes no. mr. schilling aye. miss speir votes no. mr. runnion, votes aye. mr. scott, mr. scott votes aye. mr. griffin votes aye. mr. polazo votes aye. mr. west votes aye. mrs. roby votes aye. mr. brooks votes aye. mr. young votes aye. mr. reyes votes no. mr. jones votes aye. mr. mcintyre votes no. mr. cooper. mr. cooper. mr. plats votes aye

also, sean, i urge you to be cautious with ed klein. i -- [overlapping dialogue] >> i think this is highly questionable. there are lots of people i don't like but i read them and respect their work-- >>> you haven't listened to the threer hours. >> that's fine. >> sean: i am talking specifically about this. let's stay with what we do know. reverend wright's on the record. but it's interesting when barack obama knows he's controversial and on the other hand, he's saying, i had no idea this guy was so controversial. on the other hand, when reverend wright is saying, you know, when barack obama says to him, your problem, reverend is, you have to tell the truth. what does that say about obama? that he is willing to lie to achieve political armbition. >> first of all, we don't know the context of the conversation-- >>> sure, i did. i listened to. >> it i am going to say that reverend wright was telling the truth. let's assume that --al you can imagine that he is not only self aggrandizing in terms of his account of this conversation, but he

klein. i don't want to get so much in on the cause but an assessment on how serious you think the world financial crisis is? a lot of us, you know, put a lot of blame on monetary policy and federal reserve and the dollar reserve standard and excessive debt in these issues. we're not going to resolve that today. who is to blame, but do you consider the world financial situation to be a mess or just something that will be taken care of soon and there's not that much to worry about? >> i'm very worried about europe. i think the austerity policies are the wrong policies at the moment, but they have, they'll make the situation worse, and that could be bad for us. the long-run debt situation in europe is serious, but at the moment i would focus attention on their getting out of the recession. for us, i think we've got to get out of this recession, too, but we've got to get our long-run debt under control. i think we can, but we haven't. >> all right. could you follow-up, dr. klein? give me your as

klein. >> no. >> mr. klein votes no. mr. ronlers. mr. rogers? mr. courtney mr. courtney votes aye. mr. franks votes no. mr. lobe sack votes ayep. mr. conway votes no. mr. pingrey votes aye. mr. kissel. mr. kissel votes aye. >> mr. whitman votes aye. mr. hinrich votes aye. mr. kauffman? mr. kauffman votes no. mr. critz votes aye. mr. rooney votes no. mr. ryan? >> aye. >> mr. ryan votes aye. mr. platts? >> mr. rupersburger votes aye mr. johnson? >> no. aye. >> mr. johnson votes a ye. dr. heck? >> no. >> ms. hockel votes aye. >> mr. schilling votes no. ms. spear votes aye. mr. runyon votes no. mr. scott votes no. mr. griffin. >> no. >> mr. griffin votes no. mr. palatso votes no. mr. west? mr. west votes no. robey votes no. mr. brooks votes no. mr. young votes no. mr. jones. mr. mcintyre votes aye. >> the clerk will record the tally. >> mr. chairman, the nos are 32, the ayes are 26. >> the amendment is not agreed to. the committee postpone further proceedings on the amendment offered by mr. andrews. number 128 and shall now resume those proceedings. the question now ocurse oan amendmen

yves klein had the desire to purify reality, painting everything blue. this kind of blue has been invented by klein to represent and to symbolize the spirituality and the material sensibility that permeates any substance. in a carefully orchestrated event in the early sixties, klein took these models and made them his paintbrushes. traces of their bodies remain. the canvas is transformed into a blue icon that represents the transformation of the flesh into purity. minimal art, or what came to be known as minimalism, was really a phenomenon of abstract sculpture that ran parallel to the rise of pop art in the early sixties. minimal art seems to have devised a kind of abstract sculptural analogue to what it was that pop art was doing. like pop art, one felt that the artist was taking a certain kind of almost perverse and nihilistic pleasure in sweeping away this sense of the artist/creator as the generator of form and instead, subjectingimself or herself to the idea of these abstract forms asomething that he, of course, could not have invented. what they d

with us today, joe klein, kasie hunt, helene cooper and major garrett. first up, the country is worried about the future, jobs aren't on the swup swing. europe is risking our retirement savings. big majority say we're on the wrong track. that story has been brewing for a while. what is new this week is that president obama and mitt romney are going at it over who is best qualified to deal with it. >> if your main argument is i know how to grow the economy is i know how to make a lot of money for investors, then you're missing what this job is about. >> the president's experience has been exclusively in politics and as a community organizer. both of those are fine areas of endeavor. right now we have an economy in trouble. chris: a new poll shows the country fears the problems are greater than the usual ups and downs of the business cycle. 2/3 say their children will not live as well as they have. looking inside those numbers. 72% of white women, a group that many believe is the most crucial swing group out there think their kids won't live as well. here

here's ed klein. we will do what the mainstream media will not do and play his tapes with the recent interview with the reverend jeremiah wright. with me is ed klein. let's start at the very beginning, about the day he announced he was going to run for president and he was going to get the invocation and the president called to tell him what topics to talk b. my name came up. we will run this tape. >> black clergy got scared because of oriley and "hannity" and cancelled their meeting with me. so -- [inaudible] barack called. >> this is when? >> this is the day before the announcement. in springfield. >> that he was running for the presidency. he called -- when he called... he called to warn me that -- i mean not a negative warning, the first time, the first call was not a negative warning. he said, axelrod is going to call you because we are going to iowa tomorrow and in your invocation, i was going to do the invocation the next morning, don't say anything that would upset iowa farmers. if anything, t

anyway, thank you sam stein, as always, thank you the brilliant ezra klein and brilliant stam stein. >>> is there a growing rift within the pro business better off people, i must say, like cory booker, politically, and rank and file regular democrats who mistrust big economic power? this is "hardball," place for politics. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.

klein. today even with our previous panel plus this panel we have heard a lot about the dual mandate, and it seems like that's what we've spent most of our time on today. if you could, put that in perspective. how crucial is that? how much difference would it make? i know you have a different opinion about the overall picture and the monetary system, but we're not on the verge of having a commodity standard and restraint on the authorities, but how crucial do you think this debate is and how much different does it make whether there's a single or a dual mandate? dr. herbener? >> i don't see too much evidence -- >> make sure i can hear you. >> i don't see too much evidence that in the perform epance of t fed the concentration on one wing of the mandate or the other has changed their actual performance. so the fed was in the 1980s concentrating on price stability more than the unemployment mandate, and yet they inflated to the extent of creating the bubble, the stock market bubble of '87 that

the first time can't be in front of the klein the. i can't stress that enough. >> fire a client, breaking up with your boyfriend. >> it really is all the same thing. you can't waiver. if you're firing a client maybe it's because they're a bully or were going outside the parameters of your contract. they're used to this. they'll think if pressure the pn will cave. you can't cave. you have to know, i've made up my mine, be calm, nonemotional and keeping back to the fact that this isn't a great match. youen wa the them to have the best experience and they're not going to have it with you. >> remember your own resolve. if you're getting rid of money coming in, it must be pretty bad. >> right. how many times when you're in the middle of the situation, whether it's the boyfriend or anyone else, you give it one more chance. you can't give it one more chance. every time you give yourself one more chance, you're closing yourself off to those customers out there. >> forget maybe new clients, they take time away from your current clients. >> and

klein. today, even with our previous panel and this panel, we've heard a lot about the dual mandate. it seems like that's what we've spent most of our time on today. if you could, put that in prif. how crucial is that? how much difference would it make? i know you have a different opinion about the overall picture in the monetary system. if we are -- we're not on the verge of having a commodity standard and restraint on the authorities. but how crucial do you think this debate is and how much difference does it make whether it's a single or dual mandate? dr. herbener? >> i don't see too much evidence -- >> make sure i can hear you. >> i don't see too much evidence that in the performance of the fed, the concentration on one wing of the mandate or another has changed their actual performance. so the fed was in the 1980s concentrating on price stability more than the unemployment mandate, and yet they inflated te to the extent of creating the stock market bubble of '87 that burst and gave us t

but ed klein is a liar and phony. why we're giving him time is beyond me. >> eric: no dispute that president obama spent time -- >> eric: time -- >> bob: nothing to do with the topic. he got out of the church. >> bob: is that what you want to run on? >> greg: talking about romney four days ago about incident in school there. should be statute of limitations. >> bob: this is ed klein. freddie questionable witnesses in the "washington post" story as well. >> eric: this is less about the book. more about what was the relationship. is president obama ticked off at reverend wright? or is reverend wright ticked off at obama? that is relevant questions. >> kimberly: this isn't about klein. we are talking -- >> bob: yes, it is. >> kimberly: hold on. we are talking about reverend wright on tape. trying to get a copy of the tape. if we get it, we bring it to you tomorrow on "the five." >> bob: i don't believe reverend wright either. >> kimberly: time to go. "saturday night live" to represent obama. but guess who ferrell did whe

the first time can't be in front of the klein the. i can't stress that enough. >> fire a client, breaking up with your boyfriend. >> it really is all the same thing. you can't waiver. if you're firing a client maybe it's because they're a bully or were going outside the parameters of your contract. they're used to this. they'll think if i apply a little extra pressure the person will cave. you can't cave. you have to know, i've made up my mine, be calm, nonemotional and keeping back to the fact that this isn't a great match. youen wa the them to have the best experience and they're not going to have it with you. >> remember your own resolve. if you're getting rid of money coming in, it must be pretty bad. >> right. how many times when you're in the middle of the situation, whether it's the boyfriend or anyone else, you give it one more chance. you can't give it one more chance. every time you give yourself one more chance, you're closing yourself off to those customers out there. >> forget maybe new clients, they take time away from y

klein it's an honor to have you with us. >> the honor is mine. i'm deeply grateful. >> woodruff: first of all, tell me why is it so important for people to keep talking about the holocaust and what happened? >> i think, of course, the importance of the holocaust should only be too illuminate the fact that hatred is not over. it is going on every single day. and i think the-- we should have more people come from countries where it is happening to see the type of pictures. you know, when i see pictures of little children holding battered little things for food, when villages are being burned, this is still going on. i just think the holocaust should be used as a beacon to show what hatred and intolerance and all those things which have led to so much pain all over the world is capable. >> woodruff: people read your story or they hear your story, and they want to know what gave you the strength to survive when so many others didn't, that terrible experience? >> i do believe that it is 95% of luck, to be at the right moment at the right time. when se

klein it's an honor to have you with us. >> the honor is mine. i'm deeply grateful. >> woodruff: first of all, tell me why is it so important for people to keep talking about the holocaust and what happened? >> i think, of course, the importance of the holocaust should only be too illuminate the fact that hatred is not over. it is going on every single day. and i think the-- we should have more people come from countries where it is happening to see the type of pictures. you know, when i see pictures of little children holding battered little things for food, when viages are being burned, this is still goi on. i just think the holocaust should be used as a beacon to show what hatred and intolerance and all those things which have led to so much pain all over the world is capable. >> woodruff: people read your story or they hear your story, and they want to know what gave you the strength to survive when so many others didn't, that terrible experience? >> i do believe that it is 95% of luck, to be at the right moment at the right time. when select

klein it's an honor to have you with us. >> the honor is mine. i'm deeply grateful. >> woodruff: first of all, tell me why is it so important for people to keep talking about the holocaust and what happened? >> i think, of course, the importance of the holocaust should only be too illuminate the fact that hatred is not over. it is going on every single day. and i think the-- we should have more people come from countries where it is happening to see the type of pictures. you know, when i see pictures of little children holding battered little things for food, when villages are being burned, this is still going on. i just think the holocaust should be used as a beacon to show what hatred and intolerance and all those things which have led to so much pain all over the world is capable. >> woodruff: people readour story or they hear your story, and they want to know what gave you the strength to survive when so many others didn't, that terrible experience? >> i do believe that it is 95% of luck, to be at the right moment at the right time. when sele

but tommy hilfiger have very, very strong, calvin klein, big driver. pvh is so ubiquitious, you'll find their labelson half the ties, a third of the dress shirts. stock down about 12 points. since i last spoke with the ceo at the end of march. this company has a fantastic long-term history outperforming. it's given as you 103% gain since i first got behind it in january 2008. even though the company preannounced the up side, still delivered a better quarter. its revenues came in higher than expected rising 4% year over year. the company also raised its full-year guidance. that's why manny, the chairman and ceo is here with us tonight to talk about this quarter. welcome back to "mad money." >> nice to see you. >> i'm going to ask you just as a business person, do you come in like stock people do every day and say was today the day that tommy hilfiger fell off a cliff in european? >> definitely not. like everyone else i look at stock price and everyone else in our company, i look at the daily sales reports. and the last three, four weeks there's just bee

but tommy hilfiger is very, very strong, calvin klein, big driver. pvh is so ubiquitous, you'll find their labels on half the ties, a third of the dress shirts. pvh has been pounded because of european exposure, stock down about 12 points since i last spoke with the ceo at the end of march. this company has a fantastic long-term history outperforming. it's given as you 103% gain since i first got behind it in january 2008. even though the company had already preannounced the upside, still delivered a better quarter. its revenues came in higher than expected, rising 4% year over year. the company also raised its full-year guidance. that's why i'm thrilled to have manny chirico, the chairman and ceo, here with us tonight to talk about this quarter. welcome back to "mad money." >> nice to see you. >> i'm going to ask you just as a business person, do you come in like stock people do every day and say was today the day that tommy hilfiger fell off a cliff in europe? >> definitely not. like everyone else i look at the stock price and everyone else in our

joining us on the set political columnist for "time" magazine joe klein. and host of msnbc's "the last word" lawrence o'donnell. where to begin. >> well, it's hard to say, because i want to hear from these guys on mitt romney. harold ford jr. is just jumping out of his seat to rebutt paul krugman. i don't know where to begin. >> i'd say we start with mitt romney. and then i'd love to get to the reaction to senator dick lugar losing. >> yeah, losing last night. >> big story this morning. >> start with the news. >> ok. mitt romney facing new criticism from democrats over his position on the auto bailout. it follows these comments by the presumptive republican nominee during a campaign stop. >> was that the auto companies needed to go through bankruptcy before government help. and frankly, that's finally what the president did. he finally took them through bankruptcy. that was the right course. i argued for it from the very beginning. it was the uaw and the president that delayed the idea of bankruptcy. i pushed the idea of a managed bankruptcy. and finally w

the clinton and obama camps are both hitting back calling klein a known liar. klein, a former "new york times" magazine editor dismisses that. >>> updating a story we brought you earlier in week in our friday followup segment. bake sales in massachusetts schools will not be given the boot. for patrick asked health officials to reverse guidelines that would been a unhealthy school foods. at schools starting august 1. meaning no more sweet treat sales. after the subsequent public outcry, the state backed off and ordered classroom and fundraising events to be excluded from the rules. ♪ ♪ >> bret: tonight we will look at the no. election in the house. chief congressional correspondent mike emanuel tells us lots of big changes may add up to not much change at all. >> the population shift from the rust belt to the sun belt led to fewer northern congressional districts and created 13-member versus member races this year in 11 states around the country. in pennsylvania, last month, blue dog democrat jason altm evenyer and tim holden were ousted losing to more liber

>> absolutely. >> reporter: if a business doesn't know what its costs will be, klein says-- >> how do we know how many people we can hire. >> reporter: worries about the weak job number had one upside today. oil fell below $100 for the first time since february. that will mean cheaper gas, scotland, and of course a little more money in people's pockets. >> pelley: thanks very much, anthony. now we mentioned a moment ago that the drop in the unemployment rate is bad news. here's why-- if someone gives up looking for work, he's no longer counted as unemployed. the drop in april isn't because people found work. it's entirely because 342,000 americans quit looking. our research department came up with this-- starting in 1981, this shows the percentage of americans in the workforce, meaning they have a job or they're looking for one. the number grows steadily, until 9/11, and then it starts to drop and really picks up steam independent great recession. today the percentage of americans in the workforce is down to where it was 30 years ago. we asked elaine quijano to tell us about some of t

>> absolutely. >> reporter: if a business doesn't know what its costs will be, klein says-- >> how do we know how many people we can hire. >> reporter: worries about the weak job number had one upside today. oil fell below $100 for the first time since february. that will mean cheaper gas, scott, and of course a little more money in people's pockets. >> pelley: thanks very much, anthony. now, we mentioned a moment ago that the drop in the unemployment rate is bad news. here's why-- if someone gives up looking for work, he's no longer counted as unemployed. the drop in april isn't because people found work. it's entirely because 342,000 americans quit looking. our research department came up with this-- starting in 1981, this shows the percentage of americans in the workforce, meaning they have a job or they're looking for one. the number grows steadily, until 9/11, and then it starts to drop and really picks up steam in the great recession. today, the percentage of americans in the workforce is down to where it was 30 years ago. we asked elaine quijano to tell us about some of the fol

i'm goingo have congressman klein. tavis: is that the president's bad idea? >> the president's bad idea seconded by romney. they have a student loan and finance that by saying when it got to this point they'd double it to 6.8% for your loan and now are going to leave it at 3.4%. those loans mostly go to middle class kids. i'm all for helping middle class kids but the kids who are really getting clobbered here are the poor kids and those are the pell grants. i would subsidize more the pell grants for the poorer kids who are not able to go to college and i would then let the middle class kids take the higher interest rate. it's still economically a great deal to go to college. you've seen the differences between your life income if you graduate from college as opposed to just graduating from high school. this subsidy again of the middle class, some of the figures, somebody at cornell did the figures the other day on inequality, growth of inequality. i know it's a favorite thing of yours in your book. one of the reasons we're seeing this growth in inequality is

klein. five-minute opening statement. >> thank you, mr. chairman and members, for the opportunity to discuss sup ch an important top. my testimony analyzes the fed abt the reforms considered today from the perspective of an organizational economist. how does the federal reserve system measure up as an organization? are its objectives as mandated by current law achievable and appropriate for a government agency? are these objectives consistent with a healthy and growing economy? ised fed effectively managed, structured, and governed? do key sdecision makers make god decisions? my answers to these questions are very strongly negative. the fed has been given a task, managing the u.s. economy, that is impossible for any government planning board. the fed has vast authority and very little accountability. the fed can take actions that do enormous harm to the u.s. economy. since 2008 the fed has done exactly that. it has pumped money into the financial system at unprecedented rates. it has kept interest rates near zero, thus discouraging prudent

esra klein is next, stay with us. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. [ male announcer ] glucerna hunger smart. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. ♪ power surge, let it blow your mind. [ male announcer ] for fruits, veggies and natural green tea energy... new v8 v-fusion plus energy. could've had a v8. >>> they have gotten the doubling of gas prices and perhaps worse is a conscious policy of this administration, maybe the one thing they set out to do and actually accomplished. >> he said he wanted gasoline prices to go up, so he hired a team of people to help him implement that strategy. with his numbers

i'm going to have congressman klein. tavis: is that the president's bad idea? >> the president's bad idea seconded by romney. they have a student loan and finance that by saying when it got to this point they'd double it to 6.8% for your loan and now are going to leave it at 3.4%. those loans mostly go to middle class kids. i'm all for helping middle class kids but the kids who are really getting clobbered here are the poor kids and those are the pell grants. i would subsidize more the pell grants for the poorer kids who are not able to go to college and i would then let the middle class kids take the higher interest rate. it's still economically a great deal to go to college. you've seen the differences between your life income if you graduate from college as opposed to just graduating from high school. this subsidy again of the middle class, some of the figures, somebody at cornell did the figures the other day on inequality, growth of inequality. i know it's a favorite thing of yours in your book. one of the reasons we're seeing this growth in inequality is

so, i want to bring in rick klein on the. rick, we both watched the president travel to the key battleground states tonight, ohio and virginia, where he took on romney directly. i wanted to get your reaction in particular to this comment right here. >> i don't care how many ways you try to explain it, corporations aren't people. people are people. >> the president seeming to want to deflect attention onto mitt romney here as he moves forward. >> reporter: that's right. turning mitt romney's words right back at him. this is what the president wants this race to be about. not just about the policy, it's the person. president obama is running against here someone, according to the obama folks, whatever the philosophical differences, this is something that is very well thil and, they would argue, very wealthy. >> they want to portray this president as one that is losing steam from your years agoal? >> reporter: that's exactly right. president obama isn't only running against mitt romney, he's running against him. the sky-high exp

but we just heard directly from jeremiah wright himself so does bob owe ed klein an apology? >> this is what bob he can he will does. if i have to deal with bob every day and i don't get an apology, he's going to deal with it, too. >> i wouldn't apologize to that son of a -- if it's the last thing that i do, he's a fool, a liar but listen, jeremiah wright said something right here. he said whitaker signed the i.p. whatever that is and let's see him produce it. you want to put this on the air? you want to say reverend wright is telling the truth and in an interview with one of the biggest liars in america and you said -- he says whitaker signed it. let's see it! >> you're saying reverend wright is lying. >> sure. yes. >> absolutely. >> for what reason? >> because he's mad at obama because obama threw him under the bus and he should have thrown him under the bus. >> i have a strategy, an idea why i think this is true. they paid -- they offered to pay him $150,000 not to go to work. only a liberal would do that. >> it was not during public speaking. he should have asked him not