| 00:00:29 |
Unidentified Speaker, -
WE'RE READY TO BEGIN. CAN WE HAVE YOU TAKE YOUR SEATS, PLEASE. WE'VE GOT SOME SIDE BARS GOING ON HERE. WE'RE READY TO BEGIN. LET ME WELCOME EVERYBODY...
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| 00:07:00 |
Unidentified Speaker, -
GOVERNOR HERBERT. WE'RE DELIGHTED TO BE HERE AND THANK YOU FOR BRINGING THIS TOPIC TO US AND FOR THE WORK THAT YOU'RE DOING IN UTAH TO ADDRESS ISSUES...
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| 00:12:26 |
Unidentified Speaker, -
PERDUE AND GOVERNOR HERBERT FOR THE OPPORTUNITY. IN THE COMING YEAR, I EXPECT TO SEE 2.5 MILLION JOBS. AND ABOUT THE SAME IN 2012. THAT WILL BE ENOUGH...
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| 00:21:46 |
Unidentified Speaker, -
DOE, WILL YOU PLEASE GO FOR US. THANK YOU. >> GOVERNOR PERDUE
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| 00:21:51 |
Unidentified Speaker, -
AND GOVERNOR HERBERT, THANK YOU VERY MUCH FOR HAVING ME TODAY TO TALK ABOUT THE STATE OF PUBLIC FINANCE IN THE MUNICIPAL MARKET. IT'S REALLY CRITICAL...
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| 00:30:15 |
Unidentified Speaker, -
TOM. WE DON'T NEED FOR YOU TO BE POLLY ANNA EITHER, BUT WE LIKE FOR YOU TO REASSURE THE PEOPLE ACROSS THE COUNTRY THAT WE'RE SOUND AND SOLID AND OUR...
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| 00:30:32 |
Unidentified Speaker, -
THANK YOU VERY MUCH, GOVERNOR. THANK YOU FOR THE OPPORTUNITY TO BE HERE. I THINK I NEED TO CHANGE MY BIO SO WE DELETE THAT "MOST INFLUENTIAL PERSON."...
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| 00:43:39 |
Unidentified Speaker, -
OUR THREE PANELISTS. THE PRESENTATIONS HAVE BEEN FABULOUS. I'M CERTAIN THERE ARE LOTS OF QUESTIONS. GOVERNOR HERBERT. >> WELL, THANK
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| 00:43:46 |
Unidentified Speaker, -
YOU. LET ME JUST OFFER MY THANK YOU FOR THE PANEL,TOO, AND TO MARK AND TOM AND HARLEY FOR COMING AND GIVING US THEIR EXPERTISE. I APPRECIATE THE FACT...
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| 00:45:12 |
Unidentified Speaker, -
FEW THINGS THAT ARE IMPORTANT WITH RESPECT TO FOSTERING STRONGER ECONOMIC GROWTH THAT YOU CAN PURSUE. FIRST IS PROVIDING CERTAINTY AND CLARITY WITH...
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| 00:45:47 |
Unidentified Speaker, -
THAT? >> I DID NOT KNOW THAT. >> 20 YEARS
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| 00:45:49 |
Unidentified Speaker, -
AGO, YOU WERE MY FIRST CLIENT. YOU'RE AT THE VERY TOP OF THE FAMILY TREE. I APPRECIATE THAT, BY THE WAY. SO I STARTED A COMPANY, I GREW IT INTO A BIG...
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| 00:47:27 |
Unidentified Speaker, -
GOOD. ANY OTHER COMMENTS FROM THE PANEL? >> I THINK
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| 00:47:30 |
Unidentified Speaker, -
I WOULD JUST ECHO MARK'S COMMENT ABOUT CERTAINTY. THE OTHER, I THINK, FROM MY PERSPECTIVE IS THAT AFTER WHAT IS NOW ABOUT THREE YEARS OF PATCHING...
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| 00:48:09 |
Unidentified Speaker, -
GOOD. THANK YOU. LET'S OPEN IT UP TO THE GOVERNORS TO SEE WHAT QUESTIONS AND COMMENTS YOU'D LIKE TO MAKE. GOVERNOR MEAD AND THEN GOVERNOR DOGGARD....
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| 00:48:24 |
Unidentified Speaker, -
PERDUE AND GOVERNOR HERBERT FOR PUTTING TOGETHER SUCH A GREAT PANEL. MY QUESTION IS FOR DR. ZANDI. I WAS INTERESTED IN YOUR BELIEF THAT BUSINESSES...
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| 00:49:06 |
Unidentified Speaker, -
THERE IS STILL A GREAT DEAL OF POLICY UNCERTAINTY. BUT I WOULD ARGUE THAT IT'S MEASURABLY IMPROVED FROM WHERE WE WERE -- JUST THINK BACK A YEAR AGO....
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| 00:50:41 |
Unidentified Speaker, -
THAT. I WOULD JUST SAY ON THE CAP AND TRADE ISSUE, IN PARTICULAR, WHILE CONGRESS MAY HAVE NOT ACTED ON THAT, I THINK THE EPA HAS ACTED ON IT IN A LARGE...
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| 00:51:13 |
Unidentified Speaker, -
DOGGARD. >> YES, THANK
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| 00:51:15 |
Unidentified Speaker, -
YOU. MR. DUNCAN, I HAD A QUESTION, WHEN YOU WERE DESCRIBING AFTER THE DISCUSSION ABOUT BROADENING TAXES ON SERVICES AND GOODS, THEN YOU SPOKE BRIEFLY...
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| 00:51:35 |
Unidentified Speaker, -
OF CLARITY. THE POINT I WAS TRYING TO MAKE WAS SIMPLY THAT MUCH OF THE LEGACY SYSTEM THAT IS IMPOSED ON COMMUNICATIONS SERVICES AND CERTAIN TYPES OF...
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| 00:52:47 |
Unidentified Speaker, -
SEE. THANK YOU. >>
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| 00:52:51 |
Unidentified Speaker, -
GOVERNOR DANIELS. AND THEN GOVERNOR CULVER AND GOVERNOR MALLOY. >>
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| 00:52:54 |
Unidentified Speaker, -
THIS IS A FOLLOW-UP TO GOVERNOR MEAD'S QUESTION TO DR. ZANDI. FIRST OF ALL, I THINK IT'S ARGUABLE THAT POLICY UNCERTAINTY IS LARGELY RESOLVED. FOR...
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| 00:54:22 |
Unidentified Speaker, -
YOU UP, GOVERNOR. I NOTICE YOU USED THAT WORD -- WE HAVE HEARD THE WORD "WALLOW" TWICE. THE GENESIS WAS NOT ME. THAT'S NOT A ZANDI WORD. IT'S A GOOD...
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| 00:58:02 |
Unidentified Speaker, -
DO? >> NICE
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| 00:58:04 |
Unidentified Speaker, -
TRY. DARN GOOD EFFORT. NO. I MEAN, AGAIN, EVERYBODY LEARNED A LOT. IF THEY DIDN'T UNDERSTAND BEFORE, THEY UNDERSTAND ABOUT THE IMPORTANCE OF CERTAINTY...
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| 00:58:57 |
Unidentified Speaker, -
YOU. >> THANK YOU VERY
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| 00:58:59 |
Unidentified Speaker, -
MUCH. GOING BACK TO UNCERTAINTY, LET'S SAY ONE OF MY TERRITORY, WE'RE LOOKING AT PUBLIC FINANCING FOR NEXT FISCAL YEAR, AND THE BOND MARKET. THE...
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| 00:59:35 |
Unidentified Speaker, -
TWO QUESTIONS THERE. ONE IS OVERALL INTEREST RATE DIRECTION AND THE SECOND IS WHAT'S YOUR ACCESS TO THE MUNICIPAL MARKETPLACE ITSELF. AS SOMEBODY...
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| 01:02:06 |
Unidentified Speaker, -
IF I JUST CAN FOLLOW UP ON THAT, AGAIN, BECAUSE OF THE UNCERTAINTY AND NOT KNOWING HOW CRAZY THE WORLD WILL GET -- YOU KNOW, THERE WERE THE OLD DAYS...
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| 01:02:49 |
Unidentified Speaker, -
OF THE BIG SURPRISES WE HAD IN THE 1970s IS INTEREST RATES WERE AT A FAIRLY TIGHT BAND FOR A PROLONGED PERIOD AND WITH THE EMBARGO, WE HAD INTEREST RATES...
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| 01:03:56 |
Unidentified Speaker, -
SO I'M OKAY. >> I JUST WANT TO -- I'LL SAY
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| 01:04:03 |
Unidentified Speaker, -
IT THIS WAY. BEFORE I SELL MY SOAP BOX, YOU'RE ASSURING ME THE DEBATE ABOUT BANKRUPTCY FOR STATES IS DEAD. >>
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| 01:04:14 |
Unidentified Speaker, -
IF YOU MAINTAIN A STRONG VOICE -- I'M ABSOLUTELY SERIOUS. IF YOU MAINTAIN THAT STRONG POSITION SO THAT PEOPLE THAT ARE TELLING YOUR MESSAGE FOR YOU AND...
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| 01:04:34 |
Unidentified Speaker, -
SOAPBOX. >> PLEASE
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| 01:04:35 |
Unidentified Speaker, -
DO. >> DR. ZANDI, A COUPLE OF
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| 01:04:39 |
Unidentified Speaker, -
THINGS IF YOU COULD FILL IN A LITTLE OF THE SPACE. YOU ANNOUNCED YOUR PRESUMPTIONS WITH REGARD TO THE PRIVATE SECTOR AND JOB GROWTH. BUT YOU DIDN'T...
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| 01:06:18 |
Unidentified Speaker, -
SO YOU ASKED WHETHER THE PHILLIES WERE GOING TO WIN THE WORLD SERIES? YES, BY THE WAY. I CAN STATE THAT WITH CONVICTION. IN RESPONSE TO YOUR FIRST...
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| 01:07:25 |
Unidentified Speaker, -
OFF THAT, AND YOUR ASSUMPTIONS THERE, BEYOND THE JOB LOSS, YOUR ASSUMPTIONS ABOUT CONCESSIONS AND WAGE REDUCTIONS. >> WELL, THE WAY I WOULD
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| 01:07:33 |
Unidentified Speaker, -
ANSWER, I DON'T HAVE THE NUMBER TO GIVE YOU. BUT THE WAY I WOULD ANSWER THE QUESTION IS IF YOU CONSIDER ALL OF THE WAYS STATE AND LOCAL GOVERNMENT...
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| 01:10:22 |
Unidentified Speaker, -
OKAY. WE'LL HAVE TO EXPEDITE PRODUCTIVE PRODUCTIVE. >>
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| 01:10:25 |
Unidentified Speaker, -
ALL RIGHT. WE HAVE TO EXPEDITE THIS TO WRAP IT UP. >> MY QUESTION IS FOR
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| 01:10:30 |
Unidentified Speaker, -
MR. DUNCAN. MR. DUNCAN, YOU SAID THAT STATES SHOULD LOOK AT REALIGNING THE TAX STRUCTURES WITH NEW ECONOMY ACTIVITIES IN A NEUTRAL FASHION WITH A NEW...
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| 01:10:57 |
Unidentified Speaker, -
IT'S NOT ONLY DISH 'M NOT-- I'M NOT SUGGESTING THAT A TAX ON SERVICES IS ONLY A TAX ON SERVICES, BUT WITH SERVICES BEING SUCH A LARGE SECTOR OF THE ECONOMY...
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| 01:12:02 |
Unidentified Speaker, -
I DON'T TAX THOSE BUSINESS INPUTS. WHAT ARE THOSE BUSINESS INPUTS? >> WELL, THIS
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| 01:12:06 |
Unidentified Speaker, -
IS THE -- AND THIS IS A CLASSIC CASE IS IF I'M MAKING SOMETHING. IT'S NOT TAX POLICY FOR CONSUL SHUN TAXES WHICH SAY THAT YOU SHOULD NOT TAX MY RAW...
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| 01:12:58 |
Unidentified Speaker, -
CHAIRMAN. >>
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| 01:12:59 |
Unidentified Speaker, -
GOVERNOR SNYDER? >> WELL, I REALLY APPRECIATE
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| 01:13:04 |
Unidentified Speaker, -
THE COMMENTS FROM THE PANEL, AND ON THE PANEL I'M THE TOKEN CPA, BUT IN LOOKING AT THE ISSUES, THIS IS A NOTE OF DISCUSSION THAT ONE NOTE OF CAUTION...
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| 01:14:21 |
Unidentified Speaker, -
COMMENTS? >> GOVERNOR, I THINK THAT ONE
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| 01:14:23 |
Unidentified Speaker, -
OF THE INTERESTING POINTS IS THAT THE MARKETS ARE ACTUALLY GOING TO HELP THE STATES OUT BY RESTRICTING AS POSITIVE AS THE DEBT IS PERCEIVED IS THAT BECAUSE...
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| 01:15:23 |
Unidentified Speaker, -
POINT. >> THANK YOU, WITH THAT, WE
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| 01:15:25 |
Unidentified Speaker, -
WANT TO THANK THE PANELISTS, AND LET'S GIVE THEM A ROUND OF APPLAUSE. [ APPLAUSE ] WE APPRECIATE THE LIVLY DISCUSSION AND THE COMMENTS BY THE PANELISTS...
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| 01:16:21 |
Unidentified Speaker, -
IF I COULD HAVE THOSE IN THE AUDIENCE, IF YOU COULD BE QUIET, BECAUSE WE HAVE THE BUSINESS PORTION OF THE MEETING UNDER WAY. AGAIN, THE GOVERNORS, YOU...
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| 01:17:39 |
Unidentified Speaker, -
ANY QUESTIONS REGARDING THIS? IF NOT, REQUEST A MOTION TO APPROVE THESE IN BLOC. SO MOVED? SECONDED? YES. THOSE IN FAVOR AYE? OPPOSED NAY. AYES CARRY....
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| 01:19:37 |
Unidentified Speaker, -
C-SPAN3, FEDERAL RESERVE CHAIRMAN BEN BERNANKE DELIVERS THE MONETARY POLICY REPORT TO THE SENATE BANKING COMMITTEE LIVE AT 10:00 A.M. EASTERN HERE ON...
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| 01:19:50 |
Unidentified Speaker, -
EXCITED ABOUT WHAT HAPPENS TO SOCIETY WHEN IT GETS BORING. >> NYU'S CLAY SHIRKY STUDIES
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| 01:19:59 |
Unidentified Speaker, -
THE EFFECTS OF THE INTERNET ON SOCIETY AND ITS EFFECT ON US. >> IT IS NOT WHEN IT SHOWS
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| 01:20:05 |
Unidentified Speaker, -
UP SHINY, BUT IT IS 15-YEAR-OLDS CHANGING THE WORLD, BUT IT IS WHEN YOUR MOM TAKE IT FOR GRANTED TO MAKE A MOVIE AND UPLOAD IT TO YOUTUBE. >> THE FUTURE
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| 01:20:14 |
Unidentified Speaker, -
OF THE INTERNET TONIGHTOMMUNICATORS"
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.