| 00:00:08 |
HOST, -
REALLY, WE ALL READ ALL THE DIFFERENT PARTICLES -- ARTICLES ABOUT PARTICULARLY LAWRENCE SUMMERS AND TIM GEITHNER SO HERE'S LAWRENCE SUMMERS, FORMER...
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| 00:00:18 |
GUEST, -
A REALLY ONCE IN A
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| 00:00:20 |
HOST, -
GENERATION TYPE OF PERSON WHO'S BEEN ONE OF THE
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| 00:00:23 |
GUEST, -
TOP ECONOMISTS OF THE WORLD AND YET SECRETARY OF TREASURY AND YET HAVING DEALT WITH FINANCIAL CRISIS. AND THEN YOU'VE GOT THIS OTHER ORDINARY PERSON,...
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| 00:01:40 |
HOST, -
DIRECTOR WHILE HE WAS DEPUTY SECRETARY OF TREASURY AND TREASURY SECRETARY. AND THE THING THAT'S EXTRAORDINARY ABOUT
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| 00:01:48 |
GUEST, -
LARRY IS THAT, YOU KNOW, HE IS A BRILLIANT MIND. BUT HE'S SO FANTASTIC TO HAVE AROUND THE TABLE. YOU KNOW, ONE OF THE MOST IMPORTANT THINGS YOU NEED...
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| 00:03:06 |
HOST, -
CIRCLE. SOMEBODY MIGHT
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| 00:03:11 |
GUEST, -
SAY, YOU KNOW, I'VE CHOSEN YOU, THE OTHER, SORRY, YOU CAME IN RUNNER-UP. IN THIS SITUATION I THINK HE SAID THIS IS AN EXTRAORDINARY, UNPRECEDENTED CRISIS....
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| 00:04:19 |
HOST, -
A FRAGILE, NERVOUS, GLOBAL MARKET DO
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| 00:04:22 |
GUEST, -
MATTER. AND IF YOU HAD JUST PULLED OUT A COUPLE OF NAMES OF MAYBE PEOPLE WHO ARE TALENTED BUT HAD NO REPUTATION YET, YOU COULD HAVE SEEN AN INCREASE...
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| 00:05:31 |
HOST, -
DEMANDS ATTENTION BEFORE INAUGURATION" WHAT DO THEY HAVE TO DO FIRST? GUEST: I THINK ONE OF THE THINGS YOU'RE SEEING RIGHT NOW IS OBVIOUSLY THE FOCUS...
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| 00:05:56 |
GUEST, -
CERTAIN VACUUM BY MAKING THESE SIGNIFICANT APPOINTMENTS HE IS DOING THAT PARTIALLY. BUT THINK -- I THINK WHAT YOU'RE ALSO SEEING FROM PRESIDENT-ELECT...
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| 00:07:44 |
HOST, -
MORTGAGES -- -- MORTGAGES THAT WE CAN HAVE THE BANKS OR
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| 00:07:50 |
CALLER, -
EVERYBODY RESTRUCTURE EVERYBODY'S MORTGAGES, BUT, YOU KNOW, IT'S LIKE THE HOME I BOUGHT. I WENT TO THE REAL ESTATE. THEY GOT ME IN A HOME. I GOT APPROVED...
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| 00:08:52 |
HOST, -
WHAT PEOPLE ARE GOING THROUGH NOW. HOST: THANKS. CALLER: WELL, YOU KNOW, I THINK THAT PRESIDENT-ELECT OBAMA IS REALLY ASKING HIS TEAM TO LOOK ACROSS...
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| 00:09:15 |
HOST, -
DIFFERENT PROPOSALS FLOATED OUT THERE. ONE OF THEM, I THINK, DOES GO PERHAPS TO WHAT THE CALLER IS GETTING AT, WHICH IS -- LET'S SAY YOU HAVE SOMEBODY...
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| 00:11:15 |
HOST, -
THE $700 BILLION, THE TARP AS IT'S CALLED IS SEPARATE FROM WHAT THE STIMULUS PACKAGE WILL BE. I THINK -- I DON'T WANT TO TRY TO GET AHEAD OF THE NEW SECRETARY...
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| 00:11:33 |
GUEST, -
THE TARP. AND BELIEVE ME, AS WE KNOW, THE WORLD CHANGES EVERY WEEK OR TWO WEEKS. BUT I DON'T THINK THERE'S ANY QUESTION THAT IF YOU LISTEN TO PRESIDENT-ELECT...
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| 00:13:03 |
HOST, -
TEAM? GUEST: ABSOLUTELY. IN FACT, THE CENTER FOR AMERICAN PROGRESS, YOU KNOW, PUT OUT TOGETHER WITH MARK GREEN AN ENTIRE CHAPTER, ALSO EDITED BY...
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| 00:13:23 |
GUEST, -
AND HAS PEOPLE WHO HAVE BEEN IN THESE POSITIONS OR WORKED AT THE DIFFERENT DEPARTMENTS. SO, YOU KNOW, I RECOMMEND ANYBODY TAKING A LOOK AT THAT. IT NOT...
|
| 00:14:55 |
HOST, -
THEIR CLAIM MONEYS, THEIR BENEFIT MONEYS, ARE PUT ON TO ANOTHER SOCIAL SECURITY NUMBER. FOR EXAMPLE, I HAVE A DISABLED DAUGHTER. SHE'S NOT GOING TO...
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| 00:16:31 |
HOST, -
ISSUE. I
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| 00:16:32 |
GUEST, -
THINK IN THAT SITUATION WE HAVE A GREAT OPPORTUNITY TO TRY TO MAKE SOCIAL SECURITY COL VENT -- SOLVENT. MOST PEOPLE THINK THE RIGHT WAY TO DO THAT...
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| 00:19:06 |
HOST, -
ELSE ARE YOU LISTENING FOR AS THE PRESIDENT-ELECT COMES OUT TODAY? GUEST: WELL, WHEN I WAS NATIONAL ECONOMIC COUNCIL DIRECTOR FOR THE SECOND TERM, ...
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| 00:19:30 |
GUEST, -
ORSZAG ON ONE ISSUE. THIS HAS BEEN THE EXPERIENCE WITH PETER ORSZAG . PEOPLE WORK WITH HIM ON ONE ISSUE, THEY REALIZE RIGHT AWAY -- HOST: WHAT WAS...
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| 00:19:58 |
HOST, -
CLIMATE CHANGE --
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| 00:19:59 |
GUEST, -
KIOTO, OR CLIMATE CHANGE POSITION. SO HE AN ECONOMIST WITH BROAD REACH. AT THAT POINT HE CALLED PETER ORSZAG A RISING STAR. THAT WAS 1997. HERE ONE...
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| 00:21:07 |
HOST, -
WERE EASY FOR US. WE KNEW THAT IN 1992 THERE WAS SOME FEAR THAT THERE COULD BE
|
| 00:21:16 |
GUEST, -
A DOUBLE-DIP RECESSION. THERE WAS AN INCREDIBLE AMOUNT OF WORK BEING DONE SO THAT YOU COULD QUICKLY PUT OUT A DEFICIT REDUCTION PLAN. BUT I THINK THE...
|
| 00:22:31 |
HOST, -
THE MONEY IN THE STORES. AND WHY NOT BUY THE CARS FROM G.M., HAVE THE GOVERNMENT BUY THEM. BUT THAT'S FOR YOU AND MARK. THE OTHER CONCERN I HAVE...
|
| 00:23:26 |
GUEST, -
THEM, ETC. BUT THE CALLER'S THINKING -- CALLER IS THINKING SMART OF THIS WHICH IS THE GOAL IS THAT YOU WANT TO GET MONEY OUT THAT'S GOING TO GET MONEY...
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| 00:26:24 |
HOST, -
THE OTHER? GUEST: I THINK THERE'S DIFFERENT ELEMENTS. I THINK AROUND THE WORLD AS PEOPLE ARE LOOK AT THE POST KIOTO SOLUTION, WHEN TO IMPLEMENT CAP...
|
| 00:26:45 |
GUEST, -
MEASURES COME IN PLACE. ON THE OTHER HAND, PRESIDENT-ELECT OBAMA HAS BEEN STEADFAST IN SAYING ENERGY HAS BEEN HIS TOP PRIORITY AFTER FIXING THE FINANCIAL...
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| 00:28:14 |
HOST, -
ABOUT PUTTING BAND-AIDS ON THINGS AND HAVING THE AVERAGE TAXPAYER WHO HAS ALREADY
|
| 00:28:20 |
HOST, -
LOST OUT OF HIS RETIREMENT TO PUT MORE MONEY IN TO COVER THE MISTAKES OF THE SAME PEOPLE AND THE SAME POLICY OVER AND OVER AGAIN. I DON'T KNOW HOW YOU...
|
| 00:29:15 |
HOST, -
ANY MORE PUSHBACK ON THESE CHOICES. GUEST: I THINK ONE OF THE THINGS SOME ON THE MORE PROGRESSIVE SIDE WOULD SAY IS THAT THEY WOULD SAY -- AND I THINK...
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| 00:29:39 |
GUEST, -
ONE OF THE TOP ECONOMISTS IN ONE OF THE MORE PROGRESSIVE THINK-TANKS IN WASHINGTON, D.C. THE POINT WAS, IS THAT WHEN YOU'RE LOOKING AT ACTUAL CRISIS AND...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.