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| 00:00:32 |
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THANK YOU SO MUCH. WE BEEN TALKING WITH ROBERT M. MOORE III, AUTHOR OF "THEY ALWAYS SAID I WOULD MARRY... |
| 00:00:40 |
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THANK YOU. NICE HAVING YOU. HARVARD BUSINESS SCHOOL LECTURER ROBERT POZEN LOOKS AT THE CAUSES OF THE... |
| 00:00:45 |
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HARVARD BUSINESS SCHOOL LECTURER ROBERT POZEN LOOKS AT THE CAUSES OF THE 2008 FINANCIAL COLLAPSE. HE... |
| 00:01:10 |
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WELCOME ALL OF YOU, AND I THANK SARAH AND THE PROGRESSIVE CENTER FOR HOSTING THIS LITTLE DISCUSSION... |
| 00:01:53 |
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| 00:01:55 |
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DOES ANYONE THINK IT IS MORE |
| 00:02:00 |
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| 00:02:01 |
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MORE? MORE FREQUENT. LET'S LOOK AT SOME OF THE NUMBERS HERE. THE LEFT SIDE, WE HAVE PROFESSIONAL I CAN... |
| 00:04:27 |
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FOR. HOW MANY? 6-UNDER. THE NUMBER TURNS OUT TO BE 690. 690. THAT IS THE NUMBER OF INSTITUTIONS WHICH... |
| 00:11:48 |
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WELL, ONE OF THE THINGS THAT IS PARTICULARLY NOTABLE ABOUT THE BOOK IS THAT IN CONTRAST TO THE VERY... |
| 00:12:36 |
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OR OTHER IMPORTANT TRIVIAL |
| 00:12:38 |
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SO I ENCOURAGE PEOPLE TO TAKE A LOOK. THERE IS ENOUGH IN THERE FOR PEOPLE TO AGREE WITH LARGE PORTIONS... |
| 00:12:53 |
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SURE. FIRST OFF, I WOULD SAY THAT WE ARE IN A SOCIETY NOW WHERE THE NOTION OF TOO BIG TO FAIL IS SYNONYMOUS... |
| 00:14:04 |
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| 00:14:07 |
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ONE OF THE THINGS THOUGH I THINK THAT BOTH, AS I TALK TO YOU BEFORE, OF YOU HAVE FOCUSED ON AND MAYBE... |
| 00:14:57 |
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SURE. FIRST OF ALL, AS I HAVE MENTIONED, THE REAL EYESORE FOR OUR SOCIETY IS THE TOO BIG TO FAIL. SO... |
| 00:19:42 |
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DO WANT TO START MAYBE THE INTERNATIONAL AND THAT WE CAN GO TO DISCRETION THAT THERE'S SO |
| 00:19:47 |
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MANY TOPICS THERE. ROBBERY SO MANY POINTS. LET ME TALK A LITTLE ABOUT HIS THREE DETERRENTS OF RESOLUTION,... |
| 00:25:30 |
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ONE THING THAT I THINK FROM WHERE THERE'S A PLACE OF AGREEMENT ON THE ORGANIZATIONAL CHART, I NOTICED... |
| 00:26:28 |
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WELL, IN MY BOOK, AND I HOPE YOU CAN HEAR ME, IS I SORT OF TAKE A MIDDLE GROUND POSITION. UNFORTUNATELY,... |
| 00:29:14 |
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I THINK I'M GOING TO TAKE US UP ABOUT 10,000 FEET. WHICH IS, WE HAVE A SOCIETY THAT PARTICULARLY SINCE... |
| 00:31:54 |
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I THINK CREDIT CARDS AND I'VE TALKED TO ELIZABETH, WHO I VERY MUCH RESPECT, AND I THINK MAYBE THESE... |
| 00:32:35 |
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I THINK IN SOME WAYS WHAT THIS CONVERSATION HAS SUGGESTED IS THAT THERE IS A TENSION BETWEEN WHETHER... |
| 00:33:57 |
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FUNCTION. SURE. FIRST OF ALL, I DO THINK THAT THE FEDERAL RESERVE, AS YOU MENTIONED, PEOPLE WHO DO NOT... |
| 00:37:41 |
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WELL, LET ME COMMENT ON A KNEW POINTS. FIRST OF ALL, ON THE AIG, I ABSOLUTELY AGREE, IT WAS $62 BILLION... |
| 00:42:01 |
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ONCE AGAIN, WITH REGARD TO SYSTEMIC RISK, WE'RE NOT IN A SITUATION WHERE YOU'RE RESOLVING ONE FAILED... |
| 00:44:37 |
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I WANT TO SPEND JUST A COUPLE MINUTES ON HOUSING FINANCE. YOU SPEND THE FIRST PROBABLY 25% OF THE BOOK... |
| 00:46:22 |
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ONE THING THAT IS GOOD TO DO IS LOOK AT CANADA. CANADA HAS A PRETTY GOOD HOME MORTGAGE MARKET AND THERE... |
| 00:49:28 |
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| 00:49:36 |
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WHAT I THINK IS TRICKY RIGHT THAT PEOPLE DO EXPERIENCE A SUBSIDY AND TAKING AWAY THE SUBSIDY WHEN THE... |
| 00:49:51 |
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I AGREE WITH THAT. THIS IS PROBABLY NOT THE TIME TO |
| 00:49:59 |
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IS I SO I THINK WE NEED CONCRETE PLANS ABOUT WHAT WE WANT TO DO IN THE LONGER TERM, BUT NOT TO BE SHOCKING... |
| 00:51:38 |
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AND I AGREE THAT IT'S THE OR ANOMALY OR UNFAIRNESS THAT THE OTHER -- THAT THE BANKS BECAME A MUCH SMALLER... |
| 00:53:06 |
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ALSO NOT SURPRISING WHEN BANKS WERE ALLOWED TO CO-MINGLE TRADITIONAL BANKING ACTIVITIES WITH SECURITIES... |
| 00:53:21 |
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LET ME JUST PUT A PIN IN ANOTHER TOPIC THAT'S RELATED TO THIS, THAT WE PROBABLY INVITE YOU BACK TO BE... |
| 00:53:49 |
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AND WE WOULD BE IN MUCH BETTER SHAPE IF IT WASN'T AN ALL OR NOTHING, IF WE HAD SOME |
| 00:53:55 |
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THAT'S RIGHT AND THERE'S BOTH A SUBSIDY ISSUE AND ALSO AN ACCESS TO CREDIT WHERE OVER THE LAST FEW YEARS... |
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YES. HI, MY NAME IS STEVE BRANDT AND MY QUESTION IS FOR -- EXCUSE ME, I'M A LITTLE NERVOUS HERE. MR.... |
| 00:56:14 |
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I GUESS I WOULD GO TWO PLACES. THE FIRST, WHICH IS KIND OF HUMEROUS, JOSEPH STIGLETZ WAS HOLDING A PANEL... |
| 00:56:53 |
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THAT'S THE BIG OF THE |
| 00:56:59 |
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I'D SAY THAT YOU'RE REALLY TALKING ABOUT A SYSTEM AND A% FOR A LIFE AND FOR A SOCIETY, AND AT SOME LEVEL,... |
| 00:58:24 |
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WE AT CAP THINK ABOUT THE ART OF THE PROGRESSIVE MOVEMENT AND AT THE EARLIER PART OF THE CENTURY AND... |
| 00:58:59 |
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MY NAME IS BARRY ZIEGUS WITH CONSUMER FEDERATION OF AMERICA. THANK YOU BOTH FOR YOUR THOUGHTFUL AND... |
| 00:59:27 |
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I LOOKED HAT THIS PRETTY CLOSELY AND THERE ARE PEOPLE WHO HAVE THIS, WHAT I COME IT SEE AS SORT OF A... |
| 01:02:20 |
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| 01:02:28 |
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I WILL STRONGLY SAY GLASS STIEGEL WAS NOSTALGIA. FIRST OF ALL, AT THE PRODDING OF THOMAS FERGUSON, LEGAL... |
| 01:04:25 |
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ALL RIGHT. DANA AND THEN WE'LL DO ONE MORE IN THE BACK AND THEN WE NEED TO |
| 01:04:34 |
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THANKS TO BOTH OF YOU, AND A QUESTION TO BOTH OF YOU AND THANKS TO THE CENTER FOR HOLDING IMPORTANT... |
| 01:05:43 |
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| 01:05:47 |
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NEXT NOVEMBER, PEOPLE ARE GOING TO RELIEVE YOU OF YOUR JOB. YOU DON'T EXERCISE YOUR RESPONSIBILITY.... |
| 01:06:52 |
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AND I JUST WANT TO ADD, I THINK THAT SENATOR DODD'S DECISION NOT TO RUN IS ACTUALLY HELPFUL TO THIS... |
| 01:07:41 |
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IN SEPTEMBER. ALL RIGHT. WE HAD ONE LAST QUESTION. I CAN'T UNFORTUNATELY -- YES, TWO ROWS BACK BEHIND... |
| 01:07:58 |
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HAROLD WATKINS, AND JUST A QUESTION TO GO TO WHAT YOU OPENED WITH, TALKING ABOUT STRUCTURED FINANCE... |
| 01:08:15 |
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WELL, I'LL GIVE YOU -- THERE ARE THREE POINTS THAT NEED TO HAPPEN. ONE IS EVERYBODY NEEDS TO HAVE SKIN... |
| 01:10:03 |
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WE COVER AN ENORMOUS RANGE OF THEOLOGY AND VERY DETAILED POLICY ACROSS A WIDE RANGE ISSUES TODAY. OBVIOUSLY,... |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.
