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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:00:11 |
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I WANT TO START THE LAST SEGMENT BY SHARING NEWS OF ECONOMIC INDICATORS THAT A CROSSED THE WIRE. ... |
| 00:01:37 |
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I ANALYZE THE QUALITY OF THE GOVERNMENT'S MEMBERS. I FOUND OUT EARLY ON THAT IF I DID NOT FOLLOW CLOSELY... |
| 00:02:47 |
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I WANT TO GIVE THE VIEWERS THE TELEPHONE NUMBERS. MR. WILLIAMS WRITES A COLUMN ON HIS WEBSITE WITH... |
| 00:03:23 |
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RIGHT NOW, WE ARE AND IN AN INFLATIONARY RECESSION. THAT IS NOT THE OFFICIAL PITCH TO GET OUT OF WASHINGTON,... |
| 00:04:40 |
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WHEN WAS THE LAST TIME THE UNITED STATES EXPERIENCED AN INFLATIONARY RECESSION? SECOND QUESTION, WHAT... |
| 00:04:48 |
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IF YOU GO BACK OVER THE LAST THREE DECADES, I THINK YOU'LL FIND THAT ROUGHLY TWO- THIRDS OF THE RECESSIONS... |
| 00:06:04 |
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WHAT IS YOUR ANALYSIS OF THE PRESCRIPTION THAT WE HAVE BEEN SHARING THAT IS LOOKING LIKE CONGRESS... |
| 00:06:27 |
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WE ARE FACING THE GREATEST FINANCIAL CRISIS IN HISTORY THE WORLD, IN TERMS OF ITS MAGNITUDE AND GLOBAL... |
| 00:07:51 |
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SO YOU SUPPORT THE PLAN IN ITS BROAD PARAMETERS? |
| 00:07:55 |
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I'M NOT SAYING IT'S THE CORRECT PLANT, AND THAT IS NOT WHAT I WOULD HAVE COME UP WITH, BUT THE PEOPLE... |
| 00:08:21 |
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YOU TALK, DEMOCRATS LIKE. -- UTAH, A DEMOCRAT LINE. CALLER: THE BANKERS, THE INTERNATIONAL BANKERS,... |
| 00:09:31 |
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BANKS, CALLER. MR. WILLIAMS. |
| 00:09:35 |
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A NUMBER OF ISSUES RAISED THERE. INDEED, THE FEDERAL RESERVE DOES CREATE MONEY. THE BROADEST MEASURE... |
| 00:10:51 |
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4 JOHN WILLIAMS, JOINING US IN SAN FRANCISCO, WHERE IT IS 6:30 IN THE MORNING, BRISTOL, TENN., REPUBLICAN... |
| 00:12:16 |
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COLLAR, WITH APOLOGIES, CLEARLY LOTS OF PERSONAL PAIN IN YOUR FAMILY. I WILL INTERRUPT YOU AT THAT... |
| 00:12:34 |
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IN A GENERAL SENSE, THE CALLER ACTUALLY IT'S UPON AN AREA THAT IS -- HITS UPON AN AREA THAT IS VERY... |
| 00:14:01 |
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NEXT CALL. CALLER: I'VE VISITED YOUR WEB SITE AND IS EXCELLENT. THE QUOTE FROM EINSTEIN THAT I WILL... |
| 00:16:17 |
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THANK YOU, SIR. |
| 00:16:21 |
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FIRST, EFFECTIVELY TO THE QUESTION OF MORAL HAZARD, WHAT DO WE BAIL OUT THESE PEOPLE LOVE A BAD INVESTMENT... |
| 00:18:36 |
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NEXT CALLER. CALLER: I HAVE A SOLUTION, AND IT WOULD INVOLVE THE $700 BILLION, AND IF THE/200 MILLION... |
| 00:19:14 |
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I THINK YOU ARE OFF BY A FACTOR OF A THOUSAND. AT THE COMES OUT TO -- I THINK IT COMES OUT TO ABOUT... |
| 00:20:45 |
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THAT IS ALL RIGHT. CAN YOU HEAR ME? |
| 00:20:50 |
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NO, I CANNOT HEAR. |
| 00:20:55 |
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WHILE WE ARE FIXING THAT, I WILL TAKE A PHONE CALL FROM OKLAHOMA CITY. WE WILL MAKE SURE THAT MR.... |
| 00:22:00 |
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IT IS, JOHN FUND. CALLER: HE SAID IT WAS INSANE. WHAT IS INSANE IS THAT THERE WAS TIME YOU DID NOT... |
| 00:22:21 |
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OKAY, WE WILL GET A RESPONSE FROM JOHN WILLIAMS. HIS FIRST QUESTION WAS WHAT THE ROLE THE REFORM OF... |
| 00:22:38 |
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OKAY, PROBABLY NOT TOO MUCH. THE CURRENT SITUATION, IN TERMS OF WHAT HAS GONE WRONG IN THE FINANCIAL... |
| 00:23:33 |
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I WANT TO ASK YOU A QUESTION THAT ASKS OF MY LAST GUEST, JOHN GAPPER OF. AFTER THE COLLAPSE OF ENRON,... |
| 00:24:15 |
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WELL, THE SYSTEM KEPT EVOLVING. WHAT PEOPLE FOUND WAS THAT -- I AM NOT TALKING ABOUT THE DERIVATIVES... |
| 00:26:19 |
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THE CALLERS SECOND QUESTION IS WHAT IS WRONG WITH THE CONCEPT OF RECENT INTEREST RATES? -- FREEZING... |
| 00:26:33 |
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INTEREST RATES IN THEORY SHOULD BE DETERMINED BY THE MARKETPLACE. THE FED REGULATES THE SHORT TERM,... |
| 00:27:11 |
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WE ARE SPENDING 45 MINUTES WITH JOHN WILLIAMS, JOINING US FROM SAN FRANCISCO. HE HAS HIS BACHELOR'S... |
| 00:29:38 |
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MAY I GO BACK TO YOUR FIRST COMMENT? WERE YOU BEING EMPHATIC OR IRONIC WHEN YOU SAID THAT WE ARE ... |
| 00:30:05 |
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JUST BASED AYER DESCRIPTION OF YOUR STATE AND COUNTY AND LOCALITY, I WAS WONDERING. MR. WILLIAMS?... |
| 00:30:15 |
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THE GENTLEMAN IS CORRECT THAT WE ARE NOT FORMALLY IN RECESSION. IT USED TO BE, AND I STILL LOOK AT... |
| 00:31:57 |
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ALAN GREENSPAN'S EARLY WARNING ON FREDDIE MAE AND IF -- FANNIE MAE AND FREDDIE MAC? |
| 00:32:05 |
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HE IS TALKED ABOUT A LOT OF THESE TIMESTHINGS OVER TIME. HE ALSO DID A LOT TO STIMULATE THE PROBLEMS,... |
| 00:34:14 |
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HOUSTON, TEXAS, GOOD MORNING. CALLER: GOOD MORNING. HOW ARE YOU? |
| 00:34:21 |
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FINE, WHAT'S YOUR QUESTION? CALLER: TWO COMMENTS. I WANT TO SEE WHAT THEY'RE GOOD TO DO TO PAY THIS... |
| 00:34:34 |
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IT IS $700 BILLION WITHOUT A A B. CALLER: WHAT WILL HAPPEN TO THE POOR PEOPLE WHO CANNOT BUY HOMES?... |
| 00:35:49 |
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WE WOULD LIKE MR. WILLIAMS TO RESPOND TO THE FIRST POINT. SHE DESCRIBED A SITUATION WHERE PEOPLE WERE... |
| 00:36:06 |
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IT IS A COMMON PROBLEM. THERE IS NO EASY SOLUTION TO THAT. OTHER THAN TO ACTUALLY STIMULATE ECONOMIC... |
| 00:36:51 |
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BUT OUR LAST GUEST TALKED ABOUT THE FACT, AND IF YOU DO SOME SEARCHING ON THE INTERNET, THAT DURING... |
| 00:37:41 |
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0, I UNDERSTAND THAT. UNLESS YOUR PROGRAM THAT ADEQUATELY COMPENSATES -- YOU HAVE A PROGRAM THAT ADEQUATELY... |
| 00:38:09 |
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NEXT CALLER. CALLER: I'M JUST GLAD TO HEAR MR. WILLIAMS MENTION THE WORD CRIMINAL. THIS IS MY FIRST... |
| 00:39:26 |
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I'M SURE THAT THERE WILL BE ACCOUNTABILITY TO THE EXTENT OF THE PUBLIC IS BEING PUT IN DANGER, VERY... |
| 00:40:06 |
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MARYLAND, GOOD MORNING. CALLER: I AGREE, I LIVE IN OUR HOME THAT I CAN AFFORD. THAT SAID, NO ONE MENTIONS... |
| 00:40:47 |
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THERE IS A FINANCIAL STATEMENT OF DECEMBER THAT SAYS -- A FINANCIAL STATEMENT EVERY DECEMBER SIGNED... |
| 00:41:40 |
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JOHN WILLIAMS, WE HAVE TIME FOR ONE LAST QUESTION FOR YOU, TENNESSEE. CALLER: YES, MA'AM. AT A QUESTION... |
| 00:42:11 |
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YES, MA'AM, WHAT IS THE QUESTION? CALLER: I WANT TO KNOW WHAT THE GOVERNMENT CANNOT DO BETTER ON THE... |
| 00:42:29 |
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IF YOU LIVE WITHIN YOUR MEANS, YOU DO NOT HAVE TO WORRY ABOUT BANKRUPTCY. IF THE GOVERNMENT LIVE WITHIN... |
| 00:42:51 |
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THE NEXT TIME INDICATORS COME OUT FROM THE GOVERNMENT, WHAT IS YOUR ADVICE TO AMERICANS TO THINK ABOUT... |
| 00:43:00 |
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LOOK AT IT VERY CAREFULLY, IF THERE ARE ANY REVISIONS OR SUCH. IT IS THE CPI, THERE MAY BE THREE... |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.
