[applause] >> thank you so much, bob. thank you for this wonderful speech and all your doing and thank you for being a regular huffington post blogger. it seems like yesterday, doesn't it? barack obama was going to take office. he was going to change the world and we would just go home and sit on the couch% [laughter] he was going to be in charge of changing our financial system, the feeding special interests in washington, ending on necessary wars, congratulations, it has worked out great. [laughter] i am just kidding because we realize that surprising as it is to hear about, electing barack obama which many of you thought worked -- was hard to do, amazing though it was and continues to become a was the easy part. the hard work remains to be done. if we have learned one thing of the last year-and-a-half, we have learned that democracy is not a spectator sport. the other think we have learned is that bipartisanship is not the way to fundamental change. [applause] so far, bipartisanship has brought us a long string of cata

thank you bob, thank you campaign. thank you roger. [applause] i want to make five simple points this morning. first of all, i love this country and i am a true over- the-top believer in the american dream. secondly, this is not our fathers or grandfathers economy. in fact, this is the third economic revolution in world history. 3, in global economies countries are teams. team usa lacks a growth-oriented long-term fiscal irresponsible economic plan. four is when we spent too much time writing and worrying and wining and not winning people. ., \e, students workers pay the price. we have to remember how we achieve change in our country. sometimes in the midst of these conferences d analyses and debate and criticism, progressives forget to say what i know underlines the most fundamental reason for our activism. that is that we love this country. i happen to think america is a gift. the greatest gift is that people come here from all over the world like my grandfather. all he ever expected from america was that he would work really hard. a

the obvious part of the answer and chip -- bob can finish up. the war happened. >> you go on from there. and the books -- and the tax cut. >> the bush tax cut kicked in at the same time that the war spending went up board. >> can i take two minutes to tell the store which we have not told until today? and that is -- we keep wanting to know the future, and in fact we do not we never get the future right. when that did the second story on bullish about how he decided to go to war -- on bush about how he decided to go to war in iraq? i asked him, how do you think history will judge the iraq war? and he takes his hands out and shrubs like only bush can and says, history? we will not know. we will all be dead. [laughter] >> and for it -- and with that we want thank you for having us. [applause] >> i really knew that we weren't done. >> real quick -- that was the tension. we got to get you home to your war newspaper. [laughter] and so i go home and my wife asked me how was the interview, and i said he answered all the question but they're really good

i called bob dudley and we had a conversation about it and i notified the white house. mr. dudley is a native of mississippi. he has a lot of experience in the oil production part of the bp. i have had very frank and open conversation with him and i expect that to continue. we need to bring him into our unified command and make sure they understand what we are doing. they need to understand what we need from them. i continue to be very closely -- talk to him a couple of times a day. i think this is a positive step. >> were the fatalities work related are not customer >> it does not appear at this time that they are work-related. does not mean that we don't feel very badly about it. >> will take questions from the foul line. >> -- from the phone line. >> i hope you can what we forget what hapned, when was the cap removed, why would close in the event cause hydrates? can be reinstalled, and when will it be reinstalled? >> we are looking at all those things right now. my understanding was that they noticed there was some kind of burp the line. they thought they had hydrocarbon

bob, thank you for your service. sustainable development is essential to a sustainable national security. the world has changed in the last decade and the development community starting with our agency must change, too. we have to become development entrepreneurs and through our ambitious reform agenda we hope that will be able to do that. we have to make innovation a core part of our approach because this work is challenging and difficult and we have to learn as we go and get better every day. and we have to work in a spirit of partnership. partnership with the government we are working with, partnership with the communities we are trying to support, partners with civil society and the private sector and many of the new actors and if a woman, large or small private foundations, a different technology providers that are using applications of mobile base technology in particular to create new options and opportunities for some of the poor communities in the world. on a really believe if we do all of this and if we mak

and the accommodation that bob worked out was that the veteran's organization would instead sponsor the military recruiters. so the only thing that was at issue was essentially the sponsoring organization, whether it was the office of career services or, instead, the student veteran's -- >> please, let me follow up on that. in august 26 of 2002, dean clark, your immediate predecessor, act wiquiessed fro failure to comply with the law which requires not just access, but equal access to the offices on campus. he replied in this fashion to the government -- this year and in future years, the law school will welcome military -- the military to recruit through the office of career services, closed quote. so that was with the rule when you took office, was it not? >> it was the rule when i took office. and it remained the rule after i took office. for many years, d.o.d., the department of defense, had -- >> well, not for many years -- well, how many -- >> well, for a number of years, for a great number of years, the department of defense had been -- had been very accepting. had approved the a

acquisition reform bill that president obama signed last year with the strong support of secretary bob gates. and we passed a contract reform bill that passed the house this spring and is waiting for senate action. but those bills, of course, are simply a beginning. in an uproar and speech last month, secretary grades drew on the legacy of president eisenhower. if -- in an apparent speech last month. eisenhower said, "united states, indeed, any nation, could only be as militarily strong as it was economically dynamic and fiscally sound." it is advice we should take seriously today. last week, i spoke of the danger of debt to our prosperity and security, and i made clear that eliminating unnecessary defense spending has to be part of the deficit equation. i did so with confidence, because i know that many of our nation's military leaders feel the same way. secretary gates, as i have said+ is one of them. he has urged congress to stop funding an additional c-17 cargo planes and an extra engine for the strike fighter. it is ot without controversy, but it is in terms of making choices. he

. >> tomorrow, more about oil drilling technology with bob tippe. sara murphy will take calls on long-term unemployment. it begins live on c-span every day starting at 7:00 a.m. eastern. >> pulitzer prize winners on friday. general non-fiction winner on the final decade of the cold war. it led to economic collapse in the great depression. ."iday on "book tv this weekend, noted feminist author and legal scholar martha: nussbaum has written or contributed to more than 20 books on liberal education, ethics, sexism and justice. jan brewer met with president obama at the white house to talk about your state's new law on immigration. afterward, she spoke with reporters for about five minutes. >> we just completed our meeting. it is very cordial. it is taking place in arizona and discussing our borders and illegal immigration into the state and america. with that, i will take a couple of questions before we have to be. i and sorry? we agreed to try to work together. we know we will not agree on a certain issue. of the issues will be worked out. we are goin

recently in your 2008 shareholder letter you said that bear stearns collapse demonstrated that time bob of counterparty risk he met earlier described. and i would ask bettis two shareholder letters be placed in the record. >> they will be. >> i'll like for you to describe your view ofhe role that derivatives have played in the current financial crisis. >> the leverage in the system, the huge dependency on counterparties and one of the beauties of the stock exchange is that you now have a three day clring system because people realize that if you have a contract and six months later it saddles, but face to happen. the kuwait stock exchange data and trouble because they had delayed arrangement. some have uelievably long settlement period. i could of hired the 50's smart as ph stays out of the mit to prepare some type of report that would tell me the risk i was very and i what am not gotten any answer. it was impossible to fit your mi around that. i had ninthcounterparties and i could not print out thnames of some of them. there is such integrity of our balance sheet, and it was dependent

there is a prospective bob -- to order, go order c-span.org /books. each one is also a great gift idea for father's day. >> average coverage of politics around the world continues with the australian parliament question time. the prime minister defended plans to raise certain taxes and the foreign affairs minister was asked about the use of an australian task force by israeli officials. this is 20 minutes. >> all following last week's announcements instead it has placed a couple of projects on hold with up to 30,000 jobs, we have the day's announcement from a real tent show a strong expansion plan has been put on hold -- rio tinto's expansion plan has been put on hold. i asked the prime minister, how much damage will the australian economy suffer before they back down on these attacks on mining? >> the prime minister -- >> i thank him for the question. mr. speaker, can i say to the leaders' opposition that there were things around the nation about the impact on the offshore mining industry at that time. that was a tax on profits. every economic analys

i want to thank cirman bob, as well and all of our cleagues in the senate and house. i cannot overstate the significance of what we areere to do today. fincial market reform is the single most important factor in our long-term economic recovery and it will be the foundation of our nation's financial future. i am glad we are binning with a base tax that is well over 99% of what we had in our senate bill. only small technical corrections that are there and we are excited to begin with that product. everybody recognizes the importance of the task at hand. nobody more so than the hard- working families of each of our states and districts as well as3 street and the important role that this place on their behalf. in 2008, the economy was on the brink of collapse. the greed and excess on wall streetpiraled out of control and small businessss were left to payhe price. amera was held captive by financial systems at were so irresponsible that its faire almost destroyed our economy our y of life. sie 2008, which have been estling with how to fix our bren financial regulatory sys

let's go to bob in arkansas. are you in arkansas? >> yeah. i have some time on the ocean down there and i worked as an engineer offshore for several years. the big thing i think you are missing about this disbursement -- i wked on a platform for about a year and we carried two 55 gallon drums on that? . -- on deck. my job was to turn the pumps on if there was a spill. by that time the deckhand would have a 55 gallon drum. the skipper would put one engine forward and one in reverse, drive into the spill and chu it up. that -- i don't want to name me rig but they just had a big re. according to the rigman, that there'll wld get rid of several hundred barrels of oil. the reason -- my theory, and i don't ha a card in the game, my theory is you have a company that makes their own disbursement, ships and on their own boats and injects it into their own well. when you a hauling a product the those land to the reaig only solid handled in bulk monitored is normally just helicopter fuel. when you go to the dock they will fill your tank in bulk. they wi