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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:00:02 |
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THAT IS GREAT. WITH THAT, THANK YOU VERY MUCH TO WHEN I ENJOYED THE CONVERSATION. |
| 00:00:08 |
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IT IS A GREAT BOOK. |
| 00:00:31 |
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THANK YOU I SERVE ON THE CITY COUNCIL HERE IN THE CITY OF FAIRFAX AND BEHALF OF THE CITY COUNCIL LIKE... |
| 00:02:33 |
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THANK YOU. I WILL TALK FOR ABOUT 10 MINUTES THEN WE WON'T TALK FOR ANOTHER 10A50 MINUTES THEN OPEN... |
| 00:03:42 |
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BY A MISTAKE IN FEDERAL RESERVE POLICY. IN BOTH CASES THE MISTAKE IN FEDERAL RESERVE POLICY WAS EXACERBATED,... |
| 00:17:18 |
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I WANT TO THANK EVERYBODY HERE. CAN YOU HEAR ME BACK THERE? THE SPONSORS OF THIS FESTIVAL FOR INVITING... |
| 00:34:53 |
|
[INAUDIBLE] |
| 00:35:11 |
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HOW YOU DOING? CAN YOU HEAR ME ALL RIGHT? |
| 00:35:13 |
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YEP. |
| 00:35:14 |
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I HEAR ALL THE TIME THAT WE HAVE A LOT OF UNDER MARKET FORCES PRESSURING INFLATION AND OUR INTEREST... |
| 00:35:35 |
|
LET ME JUST QUICKLY TRY TO |
| 00:35:36 |
|
SURE. |
| 00:35:37 |
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THE ANSWER'S NO. I MEAN, I DO THINK IT'S POSSIBLE THAT WE WILL HAVE HIGH INFLATION. I DON'T THINK... |
| 00:36:53 |
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PROBABLY TWO, TWO AND A HALF YEARS IS WHAT I WAS THINKING. BUT THANKS. |
| 00:36:57 |
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I'M ACTUALLY EVEN MORE OF A SKEPTIC THAN BOB ABOUT INFLATION. AFTER THE JAPANESE, JAPAN HAD A SIMILAR... |
| 00:38:29 |
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MR. AHAMED, YOU MENTIONED THE SHADOW BANKING SYSTEM. IT ATE PEERS WE ALSO -- IT APPEARS WE ALSO HAVE... |
| 00:39:29 |
|
THE BEST, THE BEST DESCRIPTION I'VE HEARD OF THE WAY AIG WORKED WAS IT'S LIKE BUYING INSURANCE AGAINST... |
| 00:41:52 |
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ANOTHER QUESTION FOR EITHER ONE OF YOU WHO WANTS TO ANSWER THIS. AT THE SAME TIME THAT GREENSPAN WAS... |
| 00:42:18 |
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THE MARGIN RATE, I MEAN, THAT HE SHOULD HAVE RAISED IT AS A SIGNAL, BUT THE AMOUNT OF STOCKS THAT... |
| 00:44:27 |
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ONE LAST QUESTION AND I'LL SIT DOWN, AND THAT IS BETWEEN THE TWO OF YOU WHAT CHANGES IN REGULATION... |
| 00:45:08 |
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WELL, MY VIEW IS, LOOK, WE'RE NOT GOING TO REPEAL BUBBLES AND BUSTS. I MEAN, THAT IS PART OF, THERE... |
| 00:46:59 |
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YEAH, I BASICALLY AGREE WITH ALL OF THAT. I THINK THAT THE OBAMA ADMINISTRATION, SECRETARY GEITHNER... |
| 00:48:35 |
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THE GLOBAL SITUATION WAS MENTIONED A FEW MINUTES AGO, AND THE NEED TO COORDINATE BETWEEN DIFFERENT... |
| 00:48:59 |
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WELL, I THINK THAT THE TWO DIMENSIONS OF THE GLOBAL COORDINATION. ONE IS THAT WE'VE GOT TO HAVE REASONABLY... |
| 00:52:26 |
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YEAH, I AGREE WITH THAT. I WOULD JUST ADD A COUPLE OF THINGS. THE QUESTION IS WHETHER THEY CAN --... |
| 00:56:20 |
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ONE FOLLOW-UP QUESTION RELATING TO THE CAPPED-OUT NATURE OF THE AMERICAN PUBLIC AT THIS POINT IN TIME.... |
| 00:57:11 |
|
WELL, THE SUBTITLE OF MY BOOK -- THE TITLE IS THE GREAT INFLATION AND ITS AFTERMATH, BUT THE SUBTITLE... |
| 01:00:07 |
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I HAVE TWO QUICK AND UNRELATED QUESTIONS. ONE IS SHOULD LEHMAN BROTHERS HAVE BEEN ALLOWED TO FAIL,... |
| 01:00:27 |
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YEAH. ON LEHMAN, HERE'S -- I WOULD ASK THE FOLLOWING: IF WE HAD SAVED LEHMAN, WOULD THAT HAVE BEEN... |
| 01:01:13 |
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WHICH ECONOMIST -- |
| 01:01:15 |
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[INAUDIBLE] |
| 01:01:18 |
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YOU KNOW, I'M AN UNABASHED FAN OF JOHN MAYNARD KEYNES. |
| 01:01:25 |
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YOU KNOW, THE LEHMAN THING IS GOING TO BE DEBATED FOR DECADES. MY GUT FEELING IS THEY SHOULDN'T HAVE... |
| 01:05:15 |
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I AM AND AT BIT DAZED ACADEMIC, NOT THE ECONOMISTS BUT IT TROUBLES ME WITH ACADEMIC RATING AND FINANCIAL... |
| 01:06:29 |
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WHAT ARE THE ODDS? |
| 01:06:30 |
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CRIMINAL BEHAVIOR. WE ALWAYS SAY, PEOPLE AND INSTITUTIONS AND BANKS AND INSURANCE COMPANIES YET THERE... |
| 01:07:07 |
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A HIGH NUMBER PROBABLY EVERY FINANCIAL CRISIS THROWS UP A KRUPP. THAT IS WHEN YOU DISCOVER THE FAMOUS... |
| 01:08:20 |
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I BASICALLY AGREE WITH THAT. CERTAINLY THERE WAS CRIMINALITY EVEN WHEN IT WAS NOT INDICTABLE THERE... |
| 01:09:32 |
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THANK YOU FOR BEING HERE TONIGHT IT HAS BEEN INTELLECTUALLY STIMULATING CONVERSATION. TALKING ABOUT... |
| 01:10:30 |
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MY SIMPLE ANSWER IS NO. [LAUGHTER] I THINK TO SOME EXPENSES -- EXTEND WE'RE AT THE END OF ME 2020... |
| 01:11:33 |
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I REALLY ENJOYED YOUR BOOK AND YOUR SON IS PRETTY INTERESTING. MY QUESTION WAS GIVEN THE ECONOMIC... |
| 01:11:58 |
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| 01:12:04 |
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ON MONETARY POLICY I THINK I SAID I PERSONALLY BELIEVE GIVEN THE LEVEL OF UNEMPLOYMENT, WE ARE GOING... |
| 01:15:13 |
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I WOULD JUST SAY WE ARE IN THE UNENVIABLE POSITION A DEFICIT SPIRAL OF THE WELFARE STATE. AMERICANS... |
| 01:18:32 |
|
THAT SEEMS TO HAVE SHUT |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.
